Rob Reviews GS, Tech Stocks, The Dollar And Crude Tonight

Welcome back everyone!  Let’s take a look at a few different things today.  The strategy continues to be the most sound from my perspective.  I am focusing on longs as long as the markets stay above the speed lines.  We have these strange relationships right now.  The S&P and NASDAQ have been travelling together.  The RUSSELL and DOW have been travelling together.  The RUSSELL and DOW were down early this morning.

All the trading that I did in the trading room this morning was in these Stock Indices.  That continues to be the pattern.  The trend is your friend to the bend in the end.  We will get that bend sometimes soon.  Until that happens I am going to ride this.  I am going to keep watching the RUSSELL 2000 and the DOW for any signs of weakness.

Goldman Sachs is another barometer that I am looking at.  You will see that we have this resistance in the backdrop in the daily and weekly charts.  I am looking to see if we can break through this resistance, pull back, and start to take off to the upside again.  That will be very important.  This also exhibits the same pattern that I showed you previously in the Wealth365 Summit.  I want to see if we can get some continuation.

Facebook is in a similar situation here.  Here is the same stochastic strategy that I taught at the Wealth365 Summit.  Go to www.wealth365.com to see those videos.  They will be featured in the vault. It is free to register!  You can see some of the other events that were played.  There is a lot of great access to some of those summit videos.  That same strategy is happening here on Facebook.  The 190 level is key for Facebook.  I want to see if we can make that a support level.  We could possibly see 200 if the market continues to plow forward.

I have been very bullish on Crude Oil.  We were stalking long side trading on this in the trading room this morning. People thought I was crazy when I said that 50 could go to 60, and 60 dollars going to 70.  We are already halfway there now.  We are at the 65 dollar mark.  I have been talking about a lot of unusual buying on this.  We have been watching that intraday.  It is cool to see those big blocks going off. 65 is the new level to break here. I will be looking for fresh long side trading after that as well.

The dollar continues to plummet.  There is not much talk in certain circles about the dollar.  There real support level that has my interest is the 90 level.  I want to see that become resistance.  If that become resistance we could see even lower prices.  We are trying to hold on for dear life right now at those levels.  That has caused a lot of accumulation bar activity.  Today we finally dipped down below that level on the Dollar.  Can 90 become a resistance level?  The Euro can get popping while the dollar is dropping.  That could have a major effect on things like Crude Oil.

AMZN had another stochastic spike type trade.  As long as we stayed above the speed lines, this would continue to be a long.  I was looking for it to get through the 1300 level, pull back, become support, and then take back off.  You saw that it took off like a rocket again today.  You can see it all coming together now.

We finally see the gap up on Netflix.  A lot of people asked about it.  You can go to www.wealth365.com and type in nflx.  You could then see that it was earnings based.  You can see all the great information in there.  We see that there is an earnings’ related type move.  What is the plan now?  I would like to really pay attention to the 50 dollar mark.  That is kind of a intermediate round number level.  Everyone is talking about Netflix right now.  I would really like to see Netflix settle down.  I would like to watch for a resumption once everyone isn’t paying attention to it.  I want to watch it start to creep up again.  That is what happens when this kind of thing happens here.

You guys have a great night and I look forward to seeing you in tomorrow night’s videos.  Make sure you check out that special strategy video by going to www.wealth365.com.  You will be able to find it there!  Take care everyone!

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The Market Melt-Up Continues, So Our Strategy Continues

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