Rob Reviews His Plan For Closing Out The Week Strong In Tomorrow’s Trading Session

Welcome back everyone!  Let’s take a look at a couple things here.  The markets are still open at this time.  However, we have enough information to share with you.  I was focusing on short side trades this morning.  The first trade that I took this morning was about four minutes in.  The short side was the way to go from my perspective.  We were below the speed lines.  You will notice we were down below the speed lines on pretty much everything.

I teach you guys the concept of the M pattern sells and the hockey stick sells.  They all come to the same results.  We are looking at a lot of sell side activities.  There are a lot of double sells too.  We just didn’t have the energy.  The indicators didn’t have the energy to follow that through.

Tesla was in the same place.  The market got up there and we hit the previous distribution.  The NASDAQ has no follow through energy.  The thing totally fails and falls back below the speed lines.

The theme is, was, and will be that if we are below the speed lines, I would like to see continuations.  For a long term investors, I would want to see the markets go up.  There are some great places to launch from the down side.  If we can get the RUSSELL pushing down below the 1492, we could potentially see the S&P touching long term resistance.  That is the same as the DOW and NASDAQ.  We are going to be watching the RUSSELL to see if we can get some market follow through to the sell side.  If it bounces to the short term then there won’t be any sort of swing trading opportunity.  That would be a quick day trade into falling resistance.  These will be the key levels that we are looking at.  Certain levels are just failing miserably.  We are now back down below the speed lines.  The market tends to ride the elevator down and walk the stairs up.  Today was a classic case of that.

We are going to follow along with that story.  Last week I put up a video in there in the Wealth365 Exclusive sections.  I was talking about 4 stocks poised for breakout in that video.  The market totally failed just like I said it would.  That will be up on the Wealth365 website shortly.  You can go to www.wealth365.com and check out the video.  You will want to watch that to learn that.  Whether you are a stocks or options trader, you needed to know that information.  When those massive markets fail, you will need to understand that.  Make sure to watch that video!

You guys have a great night and I look forward to seeing you guys in the near future.

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

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