Rob Reveals The Hidden Selling And Why He Put Out The Sell Alert Text This Morning

Welcome back! As we take a look today, we had a nice continuation to what I was saying about these risks in the market with a lot of media coming out being very complimentary of the market talking about how 2018 will be so much better. Usually, we set ourselves up for some retracements. We had roughly a 1.5% retracement on the NASDAQ in just one day. We could easily have a nice 3% gentle retracement and do absolutely nothing to this market. Nonetheless, we have to be contentious. The NASDAQ pushed down quite a bit today. We came 50% off the high on the Russell. We broke even on the S&P. The Dow we broke positive. It was all kind of hidden. People were getting selling done and yet it won’t be widely reported because the overall Dow is off to a new level. I want you to be contientious of that. That led to the trade alert I put out this morning. If you guys were in the live trading room this morning, you saw lots of momentum shift sell signals and momentum shift breakdowns. There were lots of continuation moves to the downside. Subsequently, you got that trade alert out there in the public sphere as well for those of you who weren’t in the live trading room at that moment. All of this is coming to a head. I’ll be asking does the NASDAQ continue to push down through its first support level that it’s holding on to for dear life. We had a distribution bar on the S&P and the Russell. Do they continue to sell back off? I would probably want to take the weakest and continue on that path. You can see those negative divergences have come to roost on those instruments because the Dow still making a higher high. We have a lot more to talk about in the days to come.

Also, don’t forget, if you did not already join the live trading room for that really incredible offer, go to www.becomeabettertrader.com/live to see all the things you get. For the first time, you’ll get 120 days the first time around. It’s 4 months for the price of 2 the first quarterly period. We’ll look forward to seeing you in the live trading room or we’ll see you in the upcoming videos. We’ll talk more about these cool markets as things are transitioning in the days to come.

Have a great night!

To learn more about Rob Hoffman Trader visit www.becomeabettertrader.com

Leave a comment!
Read previous post:
Nice Market Follow-through After This Morning’s LTR Open House

Welcome back everyone!  I apologize because you will still have to deal with my voice.  I have had this cough...

Close