Rob Hoffman’s Day And Swing Trading Market Strategy Update For 1/14/19

Welcome back! An exciting time in the market. I’ve been coaching you on an ongoing basis of these all important levels that we’re watching in the market and they proved themselves today on multiple fronts. We’ll look at different stocks and the market as a whole.

The reason why this is so important is that I have a boatload of stocks on the downside and the upside but we’re waiting to see which way we’re going to break out of this massive consolidation area that I’ve been warning you about. For months, I’ve been telling you that this channel was the level to beat. We’d have to break through the channel, push down to it and take back off. The reason why I’m sharing a lot of this is we have new people coming on every day and we want to make sure our newest students are welcome and get updates on this. For months, I’ve been telling you that we have to get up above the channel, pull back and take back off. Only the Russell is close to that right now. We’re well below the top end of the channel on the Nasdaq, the Dow and the S&P we’re closing to the mid-points of the channel. That is wildly important. NFLX had a sell and got down to target number 1 then we had a buy and got up to target number 1 and even target number 2. The question is can we take back off from this area? It’s going to be a lot harder for NFLX to continue that journey if the Nasdaq doesn’t start the runaway process and breakaway from target number 2, we know that could be a phenomenal run. Now the next point in the journey is so important. Do we roll back over through these levels or do we break back above and make them support? As you recall, we haven’t been able to do that. We had these channels that were super support and then they became super resistance over and over again. Here we are at this important level. We’re seeing this of course on the major indices as well as the financials. Goldman Sachs locked in a sell, hit target number 1, hit target 2 and locked in a buy. We hit target number, 1, stalled out into that all-important channel process. Will we finally break through on the S&P, the Dow, the Russell and allow some of these to start hitting the bigger targets and potentially have bigger rallies. This is a very important time in the process.

Also, in 7 days, we have the Wealth365 Summit. Check this out too. Even Forbes is going to do something different this time. Theyr’e going to do real time analysis like stocks and options during their event. It’s all covered. Whether it’s stocks, futures, options, futures, forex, long-term investing, real estate. Make sure you get registered now. Go to www.wealth365.com/bbt and you’ll get to my page to get signed up for this special event. There are little giveaways that they’re doing from Forbes, IBD, myself, etc. There’s lots of great stuff you can have access to. It’s going to be a phenomenal week. We have 25-30 new speakers. I’m really excited. I have special classes for you as well. Go to www.wealth365.com/bbt to sign up. Can’t wait to see you there.

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