How Rob Hoffman Profited With The Market’s Continued Failure At His Key Resistance Levels

Welcome back! Friday was an incredible trading day. As we kick off, first of all, I warned you about the resistance above several of the stock index futures. I even told you what the levels were for the Dow 25400 level. We opened up this morning and went ahead and pushed down and we had some wide-range volatility going back and forth then it cleared up into the afternoon and offered up long-side trading. To make a long story short, the bigger picture swing trade of things, that resistance that I told you about did in fact hold and led to overall to down drafts with basic recovery at the end of Friday afternoon. We’re still stuck below that key resistance when we’re all said and done. That meant watching out for fresh swing side trades given these massive resistance levels to the upside that have proven themselves to be important. The Dax continues to stay underwater at the close of Friday. Bringing it to an intraday basis is kind of a funny story. With the S&P, the market opened up numerous opportunities back and forth and what we talked about is when we have wide-range activity, we can trade these swings back and forth. With the buy and sell dots that I focus on. This is the trader rescue package of indicators. It’s very important from my perspective for new traders, small lot traders and struggling traders. What happens is it helps identify the entries, the stop losses and the targets. What you’ll notice is it did a great job because once again, we failed those resistance levels. We walked through the door after the US open and came right up here to the +50 area and of course that’s a no-no area for fresh longs. If you are long, that’s the area where you want to get out. We’re hitting target 2 hitting near that 50 level and got it out and got oversold and pushed back up. We hit target 1 and you get the point. Back and forth you get the point.

Then going into the afternoon, we really opened up here where it fired off the buyside. We fired off target 1, consolidated a little bit with rising support and fresh buy signals and breaking sell signals. If we’re breaking above sell signals then that’s a fresh buy. That led a nice move and then back off here when we get up above +50. There was one more run last minute. I did not achieve that. That being said a guy called me saying that he missed today because he was off at a trade show somewhere complaining that he was travelling and missing today’s trading. He was grumpy about going off to hotel rooms. I said that’s what’s so great about Wealth365. You can get all you need from the best speakers and still trade. He was sitting there jacked around and not learning what he needed to. I’m sitting there grossing several thousand dollars. That’s a little plug for Wealth365 which I’m heavily involved in and you can see why. It’s the place to be.

We’re trading the Nasdaq. It did the same here as it did on the S&P. In the afternoon it broke more to the upside. In the morning we had the moves on the S&P and the Nasdaq as you saw. We had both buy side and sell side. As we’re looking at the daily charts, we hit the resistance levels, it pulled away from them and we tried to put accumulation bars and we hit key supports now. The market is ricocheting back and forth and it’s great to find trade entries and resumptions. I taught you some of those opportunities during the Wealth365 Summit a few weeks ago. Whether you have these great tools of mine or not, I gave you great tools you can use without my indicators. That can be used with more advanced indicators as well. I taught you some of these strategies during the Wealth365 Summit. These are Inventory Retracement Bars. Breaking above these bars, gives fresh long-side trades. If you don’t know what those are, then I have my Institutional Trader Pack that points everything out for you with double dot green dot bars. You can look for reentiries as long as we have room to get to targets. It’s another great week of trading. It’s been a phenomenal first month plus now in 2019. I’m looking for a really great year. What you need to know is we are caught between support right underneath of us and this resistance that is right above us. Those are the resistance levels that I’ve given you the last several days. I warned you about those in advance and now they’re haunting people. If you’re looking on the swing trade side, we really want to get above the numbers I gave you the other day. Go back and catch up if you didn’t see that already and you also want to see if we hold those levels if we got long for some reason in advance of those resistance levels. That’s a bad place to take a fresh long. If for some reason we did, then you really want to hold these double accumulation right now. We have double accumulation bars back-to-back. We want to get above these speedlines. That’s the first thing to breathe a little easier. You’re not going to be excited and happy until we break above the major levels that I told you about. In the meantime, it’s back to being a trader’s market but there’s still a lot of opportunities for people as well as you can see going into the afternoon.

With that being said, you have a great weekend and keep in mind some of the other levels I gave you on Goldman Sachs that is still in play. We fell back with the sell signal on target 1 but we’re still in the big picture to get back above that high. Same thing with NFLX, we’re going ahead and trying to hold this black line but you have to get above that 360 level which is above a distribution level.

Have a great weekend and see you in next week’s sessions! Thanks for being the world’s greatest students!

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Rob Hoffman’s Key Resistance Held And The Market Failed At Them, For Now

Welcome back everyone! This is a great follow up video to Tuesday’s video. The market did fail at those levels...