Rob Reviews AAPL, BABA And His Strategy That’s Working Right Now For Markets On Edge

Welcome back everyone!  Before we get into a couple individual stocks let’s take a look at the market as a whole!

We are getting a little top heavy on the DAX.  Both days have come well off their highs.  It actually made a distribution bar here with today’s price action.  Getting above that 13400 will be key for that market.

It has really been this shell game between people pushing up and people holding markets down.  Today the forward momentum on some of the high flyers were stalled out.  That actually put the kibosh on the DOW.  People watched that live in the Live Trading Room this morning.  That was really cool for people to see how we used those markets side by side.  We have a distribution bar on the S&P.  We have a distribution bar and Doji Star on the NASDAQ.  We also have a distribution bar on the RUSSELL.  Three out of four of the Stock Indices have distribution bars.  It has been fairly quiet trading from my perspective.

This means to me that the speed lines continue to be the end all be all for watching for direction.  If we can get down below them I will look for shorts.  Until we do that, I am looking for long side trades.  I find it interesting that the RUSSELL closed back below its low for the day.  The market is getting tired.  I have talked about buying volatility in some of the videos.  Watch out for the Bonds and Gold.  Bonds had a really nice sell off going into today’s session.  Watch last night’s video and you will see what I was talking about.

If we break below the speed lines I am going to focus on shorts.  If we get above the speed lines I am going to focus on longs.  There isn’t much room for air when you are at those lofty levels.  I want to be near the exit if need be.

Apple continues to mystify people.  The 176 level is of interest to many people.  The 175 level is of interest to me.  We cannot get above that level, pull back, then take back off.  It gets up to it, rolls back down, and pushes up there.  It just can’t stay above it.  Every time we get above 175 that immediately triggers off people to buy.  If you did that you are basically sitting on dead money, or a loss depending on your perspective since last November.  From my perspective it is so important to get above that level, stay there, and take back off again.  I get a lot of viewer comments and questions about that.

We have some pretty defined resistance at the 190 area on BABA.  We just can’t get above, pull back, and take back off again. It continues to hit these areas and roll over and dies.  It uses up a lot of rocket fuel to get up to this level.  It held up nicely at my speed lines for a long time.  It started to pull back here that led to while of pause.  The resurgence has only pushed us back into the previous resistance.  It used a lot of rocket fuel to get there.  I want to get through that 191 area, pull back to show it is support, then look for longs.

Those are a couple really key levels that I am looking at.  It is a hair razor trigger for the short side trades on the Stock Indices.  I want to see bigger picture signs of support before going forward in the meantime.

You guys have a great night!  I also look forward to seeing you guys next week at the summit.  There are 19 of us speaking on 16 different classes.  You can see me and Davide Biocchi doing a special event.  There are events on Bitcoin and real estate.  I look forward to you guys joining me in the VIP access.  You can also register for the regular summit as well.  Have a great night!

To learn more about Rob Hoffman Trader visit

Leave a comment!
Read previous post:
Key Instruments We’re Watching And You Should Too

Welcome back everyone!  Let’s take a look here at two markets that are very much on my mind. TLT is...