Rob Reviews Several Markets And Apple’s Key Level Of Concern Tonight

Welcome back! The NASDAQ, DOW, and S&P were all inside bars. Today’s low was higher than yesterday’s low. A little later in the session we did finally break down below the lows a little more. That led to some very short term shorts. We are holding on for dear life here. We are still inside the channels.

I want to see if we can break down below today’s lows. Those have room to grow to the downside. They are also going to break below the inventory retracement bars. Those are also the accumulation type. If we break down below those channels, it could be very bearish. That could lead to some short term short opportunities.

The long could be tougher tomorrow. I would like to be above the daily speed lines. Those are the ones in pink here. We will watching that closely.

Anything in between those areas will be trading range stuff. It won’t be much of a swing trading opportunity.

We are still holding on for dear life at the 200 day moving average on Apple. If the NASDAQ and Apple start breaking down that could be very bearish. That is fine from my perspective. We can end up having it both ways! I would be more excited if we broke down below the 163 area on Apple. Those are a couple key levels to watch for tomorrow!  I want to see if we can get this rolling to the downside.

The $70 level is still the level to beat on Crude Oil. I have been warning you all about Gold. It is just a mess! It continues to be that mess. We cannot break through the 1360 resistance level. We are rolling back down once again into no trader’s land.

Amazon is struggling to follow through. There is a lot of resistance up here. There is a distribution bar at 1600. I won’t be looking for any longs till we get to the highs from last week.

Netflix is in a similar situation. We hit some similar highs. We pushed slightly above, pulled back, and rolled back in deeper. That is why it is so important to have the confirming breaks that I share with you guys.

Telsa is struggling once again in a precarious position. It is set to go down to around the 250 area. As long as we stay below the 300 level, I will stick to short side or no trades.

You guys all have a great night and I look forward to seeing everyone tomorrow morning!

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

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Rob Reviews Several Markets And Apple This Weekend

Welcome back everybody! Let’s take a look at a handful of instruments tonight. Let’s start out with the Bonds. Bonds...

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