Rob Hoffman’s Day And Swing Trading Market Strategy Update For 1/8/19

Welcome back! We have President Trump’s speech this evening. We’ll be watching that to see if there’s any clues for the direction he’s going to move and if it affects the government shut down and potential implications to our economy.

A few things from yesterday, we told you that we’re still going to be watching the key levels and falling resistance channels. Until we get above there, we won’t be able to rest any easier for swing trade opportunities like we talked about. Right now we’re at the mid point of the channel on the S&P. We’re just above the midpoint of the channel on the Russell. On the Dow, we’re right underneath the channel and the S&P closed right at it. We’re looking to see if we can break above the top side of the channel, pull back, hold a little bit and take back off. In the meantime, because of the opportunities of the Plunge Protection Team, this continues to be an opportunity where I really don’t want to focus on playing rebounds for the short-side. What I meant by that was down over here. Typically, when the market’s coming down and pull back into falling resistance level, we usually look to short that and look for it to go back down. In the Live Trading Room this morning, I was focusing on shorting the initial move down. Then, we’ll look for secondary entries on falling resistance. We didn’t do that today, we’re in that very specific market with that Plunge Protection thing where moves that go up and continue to go up just as they did for the remainder of the session. Keep that strategy in mind as we’re moving forward. Mostly what I was focusing on today was gotcha type trades where the market opens up, pushes up and resumes to the downside.

For those who are looking to find bottoms and tops on a swing trade basis, go to Most of you already know it and are going to it already but we have market news, political news and lots of exclusive articles from myself and other market wizards. There’s stocks, options, forex, day trading, swing trading and other exclusive articles you can’t find anywhere else. You can use the Wealth Strength Indicator to see if we’re on this 150 level and pull away to the downside that can lead to some good shorts like on AAPL. It ultimately ended up buried. We’re going to look to see if it starts pushing up to the 220 or 230 level that could lead to some good buy opportunities in the short term. At the same time, we look to see if markets around that 150 start going down back to below the 100/80 level and that can lead to some great shorting opportunities. You can click those different levels and see lots of different stocks that people like to watch. Right now, we’re going to be watching with AAPL.

Go ahead and stay on top of those strategies. Check out for your exclusive news and articles. We’ll look forward to seeing you in the nightly videos and the Live Trading Room.

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