Rob shows why the stock market is pausing right here

Okay, welcome back, everybody! Well, I’ve been getting a lot of questions today about, “why is the market pausing here?” Well, you know, a positive refresh is perfectly normal personally and perfectly understandable and I want you guys to see here there’s a lot going on right now. First of all, you had a big wide range bar last week and usually after big-up weeks, a little bit of a pause to refresh is perfectly healthy. You’ll notice we’re in very overbought conditions on both daily and weekly charts here as well. You’ve just what you’ve risen on the TRP indicators right up to target number one. So, to stall out here for several days is perfectly natural. The whole point of TRP is to identify the statistically probable areas where you’re going to have a pause. Now, what we’re hoping is that we will hold here, hold above these speed lines on the SPY so that we can then start taking off here towards the 335 level and then hopefully up to 345. So, there’s a lot of room to grow but first you’re gonna have to overcome this major resistance level at target number one on the TRP indicators. So, that combined with, like I said, the very overbought area the fact it only pulled back as much as is very impressive.

So, as we take a look, let’s go ahead and look over now to the individual stock and see what we see. So as we look at Skyworks here it’s gonna be a similar story now. Look at what we have. So, you have a big up week last week, so a small pullback right now is nothing. You expect it. Think about terms with my strategy called “Kickoff blowoff bar”. Big, wide range green bar, several smaller bars, and then a big wide range green bar there where then you can have a pause or actually pull back for a bit. Well, you combine that now, I mean Skyworks has had a really good run. Take a look here at what WealthFinder showed. WealthFinder had this firing off for three weeks already. So, over here it was doing these beautiful buy signals here and that was after a momentum shift breakout right here it went ahead and had ITP buy signals firing off over here. You had a reverse inventory retracement bar buy signal with multiple ITP signals and then you had a big, wide range bar. So, there’s plenty of opportunities to make money in Skyworks here that WealthFinder was pointing out here. So, the thing is though, after you know going off for so many times now look what’s happening on the TRP indicators here. We’ve hit target two. target two is the normal maximum statistical data range of this particular trend, right?

So, what’s happening is we’ve hit that target now. Now if we’re gonna look for fresh entries in Skyworks, first of all, you’d like to see it stay above in the short term ideally above this 131 area, otherwise, it could pull back much further and see why it’s kind of pause and they start to break back up through the 137 area show us that this 137 and 137.96 is the exact level there, show us that it’s making that level a key support then you could get what’s called the runaway because if we break through target 2 that’s where runaways can happen but otherwise, the normal maximum statistical range on these is target 2. So, really important for people to understand that so that’s why we’re taking pauses because mathematically we are at a place where all the key algorithm programs and that are all saying we have overstretched. We are due for a pause. So, this is perfectly normal, we do want to stay above the levels I showed you on bullfight Skyworks for instance and then going back to the SPY here for a moment. So, above these key areas, you want to go ahead and stay above those that’d be the healthiest. Show a very small pullback and then a resumption here that would be the favorite trade. If we get down below this 13.317 level on the SPY then I’m gonna for short-term date intraday short side opportunities but right now everything’s healthy! We’re just hitting key targets of resistance. We saw rising support underneath but key targets and resistance and big wide range up days, what we call blow-off bars, this is a blow-off, bar the markets due for a pause. So, I just want to kind of give you guys an update there on what’s happening and what I’m looking at and I’ll be updating you in videos here in the next couple of days but bring in the WealthFinder with ITP, with TRP, everything has been firing off and now we just hit TRP resistance levels, it’s all perfectly normal stuff that we’re looking forward to trading around. You guys have a great night! We’ll see you in upcoming videos. Take care, everyone! Bye-bye! English

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