 What is going on everybody is Stas here welcome back to another video so in this video We're gonna be doing an overall market update taking a look at the Dow Jones the S&P 500 and the Nasdaq We're going to be doing a quick trading update. What did I do today in terms of my trades? What stocks am I currently holding and we're also going to be talking about this whole tariff situation With Trump what he tweeted out on Sunday And we're going to talk about if this is going to affect the stock market in a negative way in today's video as well As just taking a brief look at some other stocks and ETFs that I'm personally watching and looking to trade here Over the next couple of weeks so before we do get into the topic of today's video for everybody out there That finds value in these videos you enjoy the stock breakdowns the stock news updates here on my channel Feel free to go down below and hit that like button It really supports me and supports the channel in general and if you do enjoy the content Throughout this video and you want to see more from me consider subscribing to the channel It would mean a lot to me and thank you all out there for watching and keeping up with the content again It means a lot to me. So without further ado guys Let's talk about this whole situation What happened with the stock market and really the crazy recovery that we did end up seeing today So I have the tweet pulled up here on my phone pretty much the gist of it guys is President Trump threatened to raise tariffs on about 200 billion dollars and Chinese made good Chinese made goods From 20 or from 10 percent rather to 25 percent He also threatened to extend the tariffs to include another 325 billion dollars in Chinese Imports so for those of you guys that don't know, you know the US and China They've been in a trade war over the past couple of months, right? It's been a while now that these two mega countries these mega economies have been in a trade war Right and this is something that has caused a bunch of uncertainty in the market a bunch of people have been scared Right a lot of people think You know, this has caused the selling off that we saw a couple of months ago really in my opinion that was a key factor in this selling off that we did see and Over the past couple of weeks and months We've honestly from them from the media right from from a couple of tweets from other outside sources We've been getting information that Trump and China They've been getting closer and closer to coming to a trade war Agreement right and in my opinion, this is why the stock market has rebounded so heavily So nicely in the year of 2019, right? I believe the market in general has priced in a trade deal Occurring and the fact that we got this news from Trump yesterday this tweet from Trump really telling us the investors out there the traders out there that There really aren't they really aren't that close to a trade deal, right? This really spooked the entire market which sent it in shambles, right? It's sent in shambles the market sold off very aggressively this morning and again to in my opinion, you know The market has priced in a trade war Potentially occurring very soon and this news coming out told us the market in general that okay Maybe there isn't a trade war Deal coming soon. Maybe they aren't even close to it Maybe they've just been leading us on and this is a this is what a bunch of people out there in our Community the stock market community in general believe as well and again this sent the market down like crazy So now that we got the gist of the scenario that's been going on over the past couple of months and what happened Yesterday, let's talk about what happened in the markets today, right? We closed at about minus 13 dollars today minus 2.45% on the SPX which is absolutely Unbelievable because if we look on the one-day-one minute we gap down all the way to 2898 pretty much erasing all of the gains that we saw last week and the past couple of weeks actually if we go on the 20-day one-hour chart, you know these were gains stemming back from the middle of April We were right around 2,900 we popped up to 2,954 We saw the Fed chair speak on Wednesday last week the stock market went down to 2,900 or the SPX rather went down to 2,900 we popped back up on Friday on that very strong day and we pretty much again Erased those gains back down to about 2,900 today where we ended up closing at about 2,932 So that's what the SPX is looking like right now at the close hopping over here to the Dow Jones We're down about 66 points down about point two five percent Which again is unbelievable because at one point today guys the futures yesterday, especially they were down 500 points, so we were down to 26,033 today at the lowest at about 930 and from there we were able to shoot up all the way nearly 430 points towards the close of the market where we ended up closing at about 26,438 Dollars and we were talking about this in the group chat this morning I kind of to myself and I said this in the group chat, you know the fact that we were down Nearly 500 points in the Dow. We were down like 50 points in the SPX We were down about 2% in general pre-market hours, you know I didn't really see the markets going down further from that which led me to believe that we were going to recover Throughout the day, right? I wasn't you know a hundred percent set on us recovering But I had a feeling that since again, we were down so heavily pre-market I figured that you know the bad news is already priced in from the futures and pre-market that the market would slowly Recover right but of course You know there was a chance that I would be completely wrong and we were to sell off But I would I just happened to be right in my thinking there and we did exactly that right? We ended up recovering very nicely I didn't think honestly we were going to recover all the way up to where we did but hey it happened Which again is absolutely blowing my mind based off of this news and the uncertainty that this news is really causing in the market Which we're going to be talking about here in a couple of minutes So the NQ also known as the Nasdaq ended up closing the day down about point eight percent down $62.75 and if we go to the one day one minute or we are at the one day one minute actually We can see we were actually down to about 76 87 earlier on today near the open of the market And at that point we were down about a hundred and ten ish points below from where we are now So the NQ was down nearly 200 points at the open of the market Which again is unbelievable and we can see we recovered for the entire day there, which again I can't reiterate it and say it enough is Unbelievable right so hopping back over here to the S&P 500, you know, we're noticing a Tight resistance level at about 2950 right? We talked about how on Wednesday last Wednesday the Fed meeting right the stock market dropped from there to 2900 we pop back up to around 2945 got rejected again there with the gap down that we saw today So needless to say there is a very strong resistance level right around 2945 to 2955 in terms of the SPX S&P 500 and what we're noticing here on a technical basis is we were able to hold the 50 simple moving Average as a support here after the big sell-off that we saw so this is a good sign that the market is a Recovering it's be holding the uptrend and see it wants to continue this uptrend Right so on the longer-term chart here on the SPX very good sign that we're seeing there But one thing I want to point out to you guys here is if we're going into a smaller time frame chart this one being the 20 day One hour. What are we noticing here towards the end of the market? We're noticing a potential lower high forming on the SPX remember We talked about how at 2955 this was our high we dropped after the Fed meeting we pop back up 2946 this was a lower high from the previous we dropped on today's news or yesterday's news rather and now we pop Back up and we're seeing a resistance at the 50 simple moving average Resistance and we're slowly starting to see some red candlesticks forming here and after hours as well So tomorrow are we going to sell off even further is this news going to span the entire week? Which I think is possible right this is something to keep an eye on keep an eye Are we going to sell off further here or are we going to break this resistance? Maybe have a green day miraculously have a green day tomorrow recover all stocks recover We push up to a higher high maybe break the all-time high watch these levels guys very very important So back over here to the Dow Jones. We're noticing something very similar here on the 20 day one hour chart right lower high Lower high lower high lower high right We're kind of seeing a descending pattern here in the Dow Jones over the past couple of days And if we're hopping here to the 184 hour chart we can see what the sell-off we saw We sold off to about what was it like 26,000 flat roughly right? About 26,000 33 dollars and from there we obviously broke or at this point We obviously broke the 26 200 level of support which is right here We broke below it and of course we broke 26 400 dollar level of support as well But from there we were able to with the recovery we saw today We were able to break out of this resistance of 26 200 making it a support again And now towards the end of the market. We actually closed above 26 400 Holding that level as a support again as well So keep an eye tomorrow guys Are we going to hold this horizontal channel that we're in yet again between 26 400 and 26 800 are we going to continue? Potentially this descending pattern that we are seeing here on the Dow on the 20 day one hour chart with this bad news that we got Regarding the trade war. What do you guys think about that? Actually? I'm going to ask you right now Drop a comment down below. Let me know what you think about this whole situation Is this going to be you know short term news that will only affect the market today And let's say we bounce back tomorrow or do you think this is going to be a long lasting effect of let's say a Week or two weeks maybe three weeks on the market where we'll be selling off for Gradually for a couple of maybe weeks here a couple of days Let me know down below in the comment section What you guys think about that and just like the dad when the SPX the Nasdaq is in the same situation, right? We're pretty much still trading in this channel that we talked about in last week's videos And it's really still intact, right this channel of lower highs Or yeah, yeah lower highs and lower lows. It's still intact, right with the sell-off We saw today. We hit a lower low. We popped up. We're at a lower high right now We're seeing some resistance towards the top of this channel and at a lower high position So this is in my eyes a sign where we could potentially be selling off more in the Nasdaq Tomorrow and judging on the 184 hour. We're just simply at this point, you know Maintaining on top or actually yeah, we're well above the all-time highs from back in October in 2018 We've held those levels as a new support We're popping up and at this point guys if we break out of this channel, right? That would be a breakout bullish pattern on the Nasdaq But if we get rejected and we start to push down and we break the support of the channel That's 100% going to be a bearish move and from there we could expect some more selling in the Nasdaq So that's the overall gist of what ended up happening today one of the most crazy days that we've seen over the past couple of weeks in my opinion and I Personally think that there is a possibility that this news and in terms of the trade war the trade deal This could span over a couple of more days, right? And this is why kind of on segmenting into the trading portion of this video why I was extremely Extremely cautious today, right? There wasn't much movement You know in my portfolio. There was a bunch of bounce back plays You know on Apple, you know Facebook Amazon Google these large cap companies They obviously sold off very heavily today with the market selling off You know, they were day-tradable as the market was going up, but to be completely honest I didn't really play any of them nor did I add more to my positions because again going back to what I said You know, this couldn't end up selling the markets off for a couple of days And I just don't want to take that risk quite yet I kind of want to see what the market is going to be looking like tomorrow based on the pre-market futures You know large caps, you know if Trump sends out any more tweets, right? This can very heavily You know fluctuate the market. I just need to see for my own You know my own strategy my own conservative on approach here I just need to see what the markets are looking like tomorrow before I make any more moves regarding my swing Plays, but what I did do today guys was I traded crude oil and UWT crude oil is one that actually saw a crazy crazy Recovery today, right? We saw on the one day one minute This one recovered from about $60 and 47 cents. This was in the uh, you know late late morning I guess you can say early morning of the 6th of May about 315 a.m. Eastern Standard Time We saw a push all the way up to nearly $63 on crude oil and I pretty much traded it on this pullback that we saw here more towards the close of the market today We saw a pullback from 62 73 down to about 62 22 and if we see UWT Let me just pull a double chart here so we can see you know how UWT was you know reacting towards this and If we can get it here UWT, so let's go to the what is it the one day one minute? Let's go to the one day one minute so we can see exactly what I'm talking about here So at about what time was that 147 UWT was at about 20 dollars and 18 cents We pulled down to about 1976 as crude oil pulled down to about 62 28 and at this point I started to see the recovery on crude oil from this pullback the RSI pulled back as well And we started to see a higher low Forming in the continuation of the uptrend here on the one day one minute So I pretty much just hopped in on this one on a very quick day trade from about 1994 up to about the higher high point here at about 20 And 30 cents and that was quite a good day trade on my part guys And I'm glad that I was actually on the computer and watching the markets closely Because if I wasn't quite honestly, I would have missed the move and I don't know why it's not letting me You know show you the margin of profit Let me just go and go here really quickly and I'll show you guys on the single chart But from 1994 roughly when I ended up getting into crude oil or our UWT rather up to about 2030 I was able to get about a 1.75 profit on a very quick day trade on UWT And I'm very happy with this again because up until this point I was being patient I wasn't really adding money into my swings because I'm just nervous in terms of you know How long this can affect the market, right? I know I mentioned it a couple of times in this video But I I want to keep saying it because I do think There is a possibility that this could affect the market for a couple of days here So that's all I did in terms of my day trading today guys in terms of my swings You know, I'm in google, right? I'm in facebook and I'm in proctor and gamble all of those I'm still holding on to them right now. They're not doing too great But they didn't do too poorly either today They all pretty much recovered near to where I ended up buying them Especially google and facebook proctor and gamble. I'm still on the green on this one We pretty much had a you know a consolidation date today Nothing too crazy on proctor and gamble. I still feel comfortable holding on to this one And that's pretty much it honestly for the trading update portion of today's video So drop a comment down below. Let me know what did you guys end up trading today? And again your opinions on the market. I would love to know so now Let's talk about what ended up not really what ended up happening But what stocks ended up doing well today? What stocks ended up recovering and what I'm watching for Tomorrow and for the rest of this week So pretty much guys a bunch of the stocks on my watch list were read today, right? I'm sure a lot of you can relate and a bunch of them were able to recover very nicely, right? You know, we saw amd dip down to the 26 level today It recovered pretty nicely towards the end of the market, right? We saw the dip down at 2650. They recovered back up You know, we saw um, you know apple dipped to about 205. I believe or 203 This one recovered very nicely. We saw facebook dipped down to about 189 pre-market hours. It popped up to 193 75 we saw tv ix today guys this one I would have traded this one to be honest But the move was already it was kind of impossible to trade this one unless you were in it from friday because It gapped up 20 percent all the way up to nearly 24 dollars pre-market hours and from there It didn't really do anything because we saw the markets recovered very nicely So what am I watching for the rest of this week? So i'm watching tv ix Probably is the number one that i'm watching just in case the markets Continue to sell off for those of you guys that don't know tv ix is an etf that trades based upon the s and p 500 It's going up whenever the s and p 500 is selling off Hence why this one was up 20 today pre-market hours because the markets in general the s and p were selling off so s and p Or tv ix rather is the number one that i'm watching for the rest of this week and tomorrow guys So apple is another one that's very interesting right now We gapped down we ended up holding the 50 s and mays of support here and we're at a pretty decent price That's offering a nice margin of profit here on apple So if the markets do recover apple slowly starts to trend up to the 210 range This can be a pretty solid swing play Again, if the markets do recover and this is why I have some plays on both side of the spectrum right apple is a play where I'd play it if the markets are recovering and doing well Despite this news and tv ix is on the other side of the spectrum right Let's say the markets continue to sell off That's a play that I can use in my arsenal to make money when the markets are going down So it's super important to have plays on both side of the spectrum. So apple definitely one that's interesting right now You know, what other ones here, uh, you know at v is one that we talked talked about in my video yesterday at v Again is one of those that fell ended up recovering very nicely today off the 180 s and may here on the 184 hour chart It's looking like we're trending up towards the 48 dollar resistance We're breaking out of that slowly if we do break it tomorrow or continue to pop above it and maintain it as a new support Just like I said in sunday's video the one that I uploaded yesterday You know, this could be a nice gap filled play up to the next resistance up to about 51 dollars and 50 cents Watching that area very closely here google is another one. I'm keeping my eyes on guys again This is one that i'm currently in we saw the big sell-off the margin of profit opened up, right? We'd sold off today again But it seems like we pushed to another higher high with a very slight green day today of about four dollars up 0.3 percent This is looking pretty solid guys And I do plan on adding more money at about 1200 dollars if we do end up getting there if the markets do end up Recovering so microsoft ticker symbol msft This is one that sold off recovered But what I want to note what I want to point you guys out towards is the potential Descending pattern that we're seeing here of lower highs, right the lower high at 128 50 129 30 and 130 123 ideally I would like to see a break above 29 30 before entering a position into microsoft to capitalize up to the previous high at about 131 and 23 cents so microsoft Pretty solid there square is actually one that recovered very nicely today Although the pattern isn't looking too ideal here Honestly, I would like to see a break out of the 50s and may of resistance before even touching this one But I figured I'd I'd you know open it up here and show you it recovered from 65 dollars all the way up to 70 dollars That's nearly a seven percent move absolutely crazy in terms of square stock And what other ones here guys, you know, we have uwt. That's one I day traded today again You know this one in terms of uwt and crude oil right now We are seeing on crude oil especially We're seeing a bit of a resistance here on the 20 day one hour chart You know under the 180 simple moving average here, you know, if we do break out of that tomorrow That's going to be a breakout move on crude oil at that point. I'm going to be trading uwt So those are honestly just a couple that I'm watching guys if honestly, I'm just being very cautious tomorrow again You know this selling off could continue for this whole week Who knows guys, but I want to be cautious with a bunch of cash on the sidelines waiting for buying opportunities So I hope you guys enjoyed this video If you did feel free to go down below and hit that like button Feel free to subscribe to the channel if you're new and you enjoy the content and drop a comment down below Let me know what you think about the current market and if you haven't already join our strive smart Discord group chat as well as our strive smart Facebook group both of those are linked down below in the description box and they're 100 Free of charge. So I hope you guys did great today. I hope you all have a great rest of your night Good luck tomorrow. Shoot me a dm on any platforms if you have any questions I'll catch you all in the next video. Peace out