Rob Hoffman’s Day And Swing Trading Market Strategy Update For 1/10/19

Welcome back everyone! Let’s hit a lot of different topics today on the day and swing trading sides.

 

Let’s start with swing trading. These key levels that I have been telling you about have continued to be the issues of the day and week. Frankly, they have been issues for the past couple months because we haven’t got above the key channels or got above them. We are still looking to see if we can do that. We are still stuck in here on the NASDAQ, DOW, RUSSELL, and S&P. I want all four of these indices to push through the channel and pull back. It has failed to do that for the past couple months. It keeps getting close and peeking its head through. This is an important time for these indices. That will dictate where we go for some of the swing trade perspective.

Crude Oil is dealing with the down trending channel. It has been a couple months since we have tested the channel. It is doing well so far. I want to see if it can hit the 53 area or better, pull back, hold it, and then take back off. The positive divergence on this is working very well. You can see the higher high in indicators. We went right to target two on the sells. It fired off on the buy side again here. It pushed all the way back up to the channel. This is a critical time for Crude Oil.

It is a critical time on Netflix as well. This was buy side for a very long time. It has avoided the sell sides. I have avoided the sell side because of that. We are getting back and oversold in the short term pushing back up to the weekly channel. We got up above the channel and held that before. I am kind of looking for something like that again. I want it to get back on the path of the long side. Right now this is very important. Netflix is very interesting to me. Some of the Netflix software has dramatically improved. I am going to be watching this so carefully as well for buy side opportunities if we can pierce through the weekly channel.

I want to remind you of something that I have been telling you recently. We had this situation with the market. I discussed the plunge protection team a lot in the past videos. You can see around the 27th of the month they were talking up the market. That is referred to as jaw boning the market. Since then, the market has been on a very nice trajectory to the upside. We are now in the major test area for this. Because of that, I will not be willing to take shorts into the falling resistance. I would usually do that in a bearish market.

Today the NASDAQ was pushing down. I would be looking to short that again to the downside. Until we either fail the daily channel and push back down, or dramatically breaking to the upside, I am going to focus on the long side trade. These next couple days will be very critical here. Will we hold or break through? We have had wide and tight range bars. We could either get another big bar blow off here. Otherwise we could roll off before the blow off happens. We will have a lot to update you on in the upcoming videos.

It won’t be much longer till my special training class at the upcoming Wealth365 Summit. There are roughly 70 plus speakers. There will be a person from Forbes and Investor Business Daily. Go to www.wealth365.com/bbt right away to sign up! This the largest all-online financial summit in the world. You will not want to miss that! I will see you all there guys.

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Rob Hoffman’s Day And Swing Trading Market Strategy Update For 1/7/19

Welcome back everyone! Let’s give you some important updates that you need to know from a day and swing trading...

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