Rob’s mid day analysis

Ok Welcome back this is just a quick intraday video. I try and switch the videos up to do day trading, intraday trading, swing trading, end of day, all sorts of different videos. With that being said, I would like to follow up from last nights video. We went ahead and preferred to be long above the speed lines in the indices. We are watching the Russell to be the leader, Russell is always the one we focus on, Mainstream media doesn’t focus on the Russell as much, as that makes it important to me. We walked in the Door this morning and the Nasdaq, the Dow, and the S&P, were all above the zero line, but the Russell was below those key areas I told you about yesterday.

That was a warning sign for me and sure enough, we came into the US open and if people saw the market was up in overnight trading so they tried to jump in long and they got their head handed to them as the market ultimately pushed down. With my live trading room today, we had a BBT insider trading day. What they saw me do is focus on the short side trading. What I’m doing here, is into the afternoon, below 1550, I want to be short or flat, above 1555 on the Russell, I want to be looking for longs or flat. I don’t want to short above 1555 or long below the 1550 area. This middle area is where I don’t want to be because whipsaws will be happening.

This morning we were below 1550, I was focused on short side trading. I wanted to let you guys now why at the open when 3 of the 4 stock indices were above the speed lines I didn’t want to get suckered into that when the Russel was below and the other three were above. I often will refer back to the Russell and take a look to see what it is doing and make sure it’s jiving with the other markets. If not, then I watch for potential reversals. Even as we talk right now, you can see we are below the 1550 level on the Russell, and we are still under pressure on the Nasdaq, which is what I have been shorting today with my students. I wanted to give you the update on what I’m looking at and why and what levels that I am looking at there. Good trading this afternoon and we will see you later in the week with additional videos! Take care everyone have a great rest of your day! “To learn more about Rob Hoffman Trader, visit www.becomeabettertrader.com.”

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Rob is watching THESE markets to start the week. You should too

Welcome back! Let’s take a look at several different market issues. First things first, as we look at the daily...

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