 What is going on everybody it stops here welcome back to another video so in today's video We're going to be doing an overall market update taking a look at the Dow Jones the S&P 500 and the Nasdaq We're also going to be talking about some stocks and ETFs that I'm personally watching here heading into the month of September of 2019 three stocks actually in particular that I've been doing very very well Despite all the mayhem and the stock market and the global economy and the trade war over the past couple of weeks We're also going to be talking about my personal opinion on whether or not This is a bull trap this green day that we saw today is a bull trap We're going to be talking about what is a bull trap and my opinion on that breaking down some Technicles on the major indexes so if you enjoyed this video feel free to go down below and hit that like button It really supports me and supports the channel in general and if you want to stay further connected with the strife smart community There's a discord group chat and there's a Facebook group link in the description box as well as my Instagram and Twitter and all that Different stuff if you want to stay further connected and that's 100% free of charge so guys Let's get right into the video now the S&P 500 with about 10 minutes left in the market today is up 2198 22 points to be exact up point seven eight percent the Nasdaq right now is up $50 up point six six percent and the Dow Jones industrial average is up a hundred and eighty four points up point seven two Percent and this is quite interesting because if you watch my video yesterday We were talking about the futures and the futures last night. They were really red They were down one point five percent on the Nasdaq one point three percent on the Dow And the S&P was down right around that same area like one point two One point three percent and then all of a sudden this morning the markets were green They gapped up and we didn't really see much push You know after that initial pop this morning and I'll show you guys what I'm talking about You know that gap up. We didn't really see much push after that But it's kind of crazy how we were down heavily than all of a sudden overnight It was like a two point five percent pop in the S&P from what the futures were down So that's quite interesting. Let me know down below in the comments section what you guys have to think about That I would love to know your opinions, but overall right now guys It seems like on a technical basis just starting off with the S&P 500 that we are holding above that 2850 level of support that we did hold above back on the 15th of August and back on the second to the fifth of August in 2019 with today's gap up that is right So that's a pretty good sign on a technical level yesterday when the futures were gapping down We were talking about how if the futures were to be red in the morning as well That would have opened us below that support which is a key technical break So for the bulls out there that want the markets to roar up, which honestly we all do But there are some shorts out there that want the markets to collapse But either way if you're a bull This is a key level that you wanted the S&P to hold above and that is exactly what ended up happening today But the one thing that's a bit concerning is we're still trading under this 50 S&A and the 180 S&A These two simple moving average levels of resistance You know on this four hour chart and if we go here to the 20 day one hour chart You can see how we're also trending below those levels as well And you can see on a closer basis here how we did end up holding that 2850 level Which again is extremely extremely critical here So let's go to the Dow Jones industrial average very quickly you guys can see That we managed to maintain 25,500 as a level of support we held that back on the 7th of August We held that back on the 13th of the 14th of August and it seems like we held that You know after the abysmal day on Friday and heading into today Which is Monday right the start of the trading week, which is a pretty good sign now It seems like we're fiddling with 25,850 ish dollars, which is a level of resistance So let's say we pop above this the next spot We're going to be testing is around 26,000 dollars and if we break that the overall Resistance in the month of August as you guys can clearly see is going to be at around 26,200 to around 26,300 dollars, but guys with the craziness that's going on right now It's going to be difficult to kind of predict where the markets are going on a technical basis because any tweet That comes out any piece of news any tariff retaliations from China or the United States This is going to cause the markets a lot of panic regardless of where the technicals are So that's just one thing to keep in your mind and just understand in these turmoil times that we are in and the stock market and the global economy so That's really all I have to say right now You know for the Dow the Dow is still trending under the major moving averages just like the S&P 500 right and even if we go to the 20-day one-hour chart You can clearly see we're trending under the main moving averages on this smaller time frame as well going over here to the NASDAQ guys up 63 dollars today up 0.84% as of right now on the 20-day one-hour chart you can clearly see the support We're holding above is around 74 50 to about 75 hundred on this NASDAQ future right? It's very clear that we held that back on the 7th of August back on the 15th of August and now although We did gap down heavily this past Friday and and yesterday for those of you guys ever call when the futures were down We are still holding this level Because we gapped up pretty aggressively this morning right and you can see on the one day one minute the aggressive pop that we got This morning at about 2 50 a.m. Which is quite odd if you guys know what piece of news or Catalyst came out in the middle of the night here on the east coast I would love to know what you guys have to say about that because through my research I'm not too sure exactly what ended up causing that pop Again, I would love to know if you guys know just drop that down below in the comment section, but Overall right now a good sign on the NASDAQ is we're holding 74 50 to about 7500 but we are still trending under the moving averages just like the S&P and the Dow so upcoming supports Let's say we break 7500 this week, which is pretty likely not I'm not going to say it's very very likely But there is a chance just like there is a chance that we pop up even higher, right? Let's say we break 7500 the next support We're going to be testing is around 7300 which we can see here Illustrated by this trend line and the main one that I'm watching is around $7,000 here on the e-mini e-mini NASDAQ 100 index future So that's kind of what I am looking at right now when you guys saw in the title of the video Is this a bull trap and for those of you guys that don't know what a bull trap is Let me pull this up for you very quickly. This is bull trap on google You can look it up for yourselves if you guys want to do more research But the brief definition here on Investopedia is a bull trap is a false signal referring to a declining trend in a stock index Or other security that reverses after a convincing rally and breaks a prior support level The move traps traders or investors that acted on this buy signal and generates losses on a resulting long position so kind of what that means is Let's see the the s&p for example here So we got the pop right this can drag in some longs that believe that we might be reversing to the upside here That's kind of what a bull trap is but overall guys We're still trending below the major moving averages like I said So despite the big pop this could be a trap that let's say you buy here expecting to go higher You know we get rejected This could be a point in time where you're trapped and let's say one of these market ETFs that go up when the s&p Goes up if you buy here we get rejected. We dump we break 2850 like that That is you being caught in a bull trap right because you thought the markets were going to pop Just because there was a green day today, right you hop in and then all of a sudden the trend It reverses on you and to be quite honest the trend here is still down, right? It's a downtrend over the past couple of months. So in my opinion This is creating a bit of a bull trap right here. We haven't fully broken out if we broke out of the moving averages You know the 50 and the 180 sma on this 184 hour chart in my opinion That would be a justifiable technical break to hop into a long position But since we're still trending under here, you know, I've said it a hundred times in this video This is a point where you could get trapped. Um, you know And and and and whatever stocks, you know and some stocks that track the s&p and stocks that you know Do have a weight on the s&p that obviously when when the s&p is green those stocks are green as well Like apple facebook, for example, some of these tech stocks and that is not a point You know that that's a difficult point to be in because if you're caught in this bull trap You know the markets dump and they continue to go down especially with everything that's going on right now That can lead you Bag holding a swing trade that you didn't want to hold more than you know a week or two or whatever And that just leads to a lot of bad things in your account a lot of bloodiness in your account And it honestly could lead to you blowing up your account. So in my opinion right now This is a bull trap again in my personal opinion, which leads me to why I didn't trade today I didn't trade today because this was a very odd move in the market today We got a very big green pump. There wasn't much backing this up We did have a g7 summit today, which I'll tell you guys Um kind of what ended up happening on trump's end here I have a photo here that I did take of this article. Um that he was asked about the china trade deal And ask if he was ready to make a deal on on trade with china president trump said in quotation marks Only if it is a fair deal and a good deal for the united states Otherwise, I will not make a deal right? He's been saying that for a while now at this point Quotes again, I think they want to make a deal and they should make a deal said president chump In regards to china. He also added if they don't make a deal with the us It will be very bad for china and honestly guys He's been saying this so much lately that his word is not carrying as much weight as it did A couple of months ago. So from my perspective, I kind of want to see some proof that there is these trade war You know that the trade war negotiations are Progressing and they're actually coming to a trade deal very soon, right? I don't want to just hear him talking hear him blabbering about this stuff without proof backing it up So at this point, I think he's just saying that because there isn't much proof backing that up But again, I'm not taking a political stance here. I'm neutral, right? This is not a channel where I'm going to get into politics deeply But that's just what he said at the g7 summit and I would love to know what you guys have to think about that Down below in the comment section. But yeah, that's pretty much it, right? The market's popped up today. I don't really see You know is screaming, you know Screaming by right now when the markets in terms of short term plays here I do think overall the markets are going to trend down And that's just why I didn't trade to be completely honest with you guys because I like Waiting I don't like trading every day forcing things, right? I like waiting for opportunities to open up to me and when I'm feeling a bit iffy on the current situation In the markets the economy with everything going on I'd rather just sit on cash and wait rather than for something, you know Hop into a long position on apple or facebook or square or you know Some of these other stocks that have been getting crushed, you know, I'd rather just wait and sit on that So that's kind of the market update For today, I would love to know again your opinion in the comment section I love conversing with you guys down below and seeing what the whole community has to say about this because I do value your opinions guys You know, don't think that I don't read the comments Well, you guys know at this point that I reply to every single comment and I value your comments a lot So that's pretty much it, you know, there are three stocks again that I want to talk about in this video that I've been doing quite well Despite everything going on and that first stock guys is CMG also known as Chipotle Mexican grill And this is actually a stock that did well during the 08 recession if I am not mistaken. Let me check that very quickly Yes, this stock did quite well During the recession, I guess you can say in 07 or 08 it did very poorly But in the kind of the heart of the recession here in 08 It did end up popping up here and you guys can see the rest of history from 36 all the way up to $800 That's ridiculous in Chipotle stock But getting into some more recent history like the past couple of weeks as trade tension, you know The Fed all these different things that have kind of been stirring the you know stock market in the economy as all this has been going down CMG has been steadily climbing right ever since the beginning of august You guys can see here. We took a little dump heading into the beginning of august, but 776 We hit the moving average beautifully the 50 s may here on the 4 hour chart and we were trending up from there We're up about 6 in the month of august alone And you guys can see we got yet again another pullback from 830 down to about You know, what was that 807 and today we ended up popping up again This is probably due to the entire market being up, but overall guys the trend That's what I want to focus on here The trend in the month of august as things again have been getting a bit rocky Has been up while a bunch of the other stocks in the month of august like large cap stocks That i'm sure you guys follow a lot of their trends have been down So in this case, I think Chipotle is worth watching It might not be the best time to buy right now Honestly, it would have been great to buy this morning as it was popping above the 50 s may but me I missed the move maybe one of you guys out there watching was able to buy it But we might see a higher high here. We might hit an all-time high Whether that's 840 850 whatever it may be and from there if we pull back down Maybe retest that 50 s may that could open up another entry point in chipotle mexican grill Which is why i'm adding it to my watch list and i'm going to be watching it You know for the rest of this week, honestly heading into the month of september as well another one that's been doing quite well Um, not crazily. Well, it's kind of just been holding its value in the month of august But it hasn't been dropping is Sb ux also known as starbucks corporation guys again if you don't know starbucks you probably live under a rock they make coffee Probably the biggest probably honestly. Yeah, they're definitely the biggest in terms of brand name when it comes to Coffee and starbucks guys in this month of august We hit a low at about 92 dollars Um in the on the fifth of august and we've trended up to about $96 giving us a move from the fifth of august of about a three four percent gain Which is pretty pretty good at this point It seems like we found a bit of a resistance at 96 to 97 dollars But we pulled back this morning and it seems like we did hold that 180 s may on the four hour chart Which is a very good sign. So at this point I want to see a pop above 97 on on starbucks And that could be a signal a breakout bullish signal to go long on this particular stock And maybe fill the gap up to 99 maybe even 100 dollars which has proven to be uh, you know, based on what I just drew out Of resistance, uh, probably the upcoming resistance will definitely the upcoming resistance if we break 97 And that could be a gap fill of about a 2.7 percent roughly 2.7 percent Which is honestly what i'm watching here on starbucks because again Starbucks has been holding up pretty well as the market has been pretty term You know filled with turmoil here So that's one that i'm definitely watching heading into this upcoming week and the next one guys Which has been actually coming up aggressively over these past couple of weeks is roku guys roku Other than Shopify. Let's look at Shopify very quickly Roku has to be the hottest stock on the stock market right now It's obviously hotter than uh, uh Shopify in terms of a return Shopify has gone from 117 up to 400 Which is about a four four x and roku Has gone from 26 up to 145 which is about a five to a six x and its price Which is insane. That's just utterly insanity since the beginning of 2019 and you guys can see Despite the markets being crazy. This one has continued to climb and climb and climb and in the month of august you guys can see You know, this stock's gone from 98 dollars. Oh my goodness 98 dollars up to 145 so that stock has not been reacting negatively to what's been going on It's up 35 percent in the month of august So i'd love to see what's going on here You know with roku over the next couple of weeks here if we hold this 50 s to may this could be continuous play Especially since it's very very hot. So roku starbucks chipotle These are three stocks that have been doing quite well Despite the markets being crazy and I just got a notification about johnson and johnson. They're up five percent Up to 134 and 35 cents. Okay. Let's see johnson and johnson very quickly now that we did get this So that's popping very aggressively. What is this news here johnson and johnson ordered to pay 572 in the opioid case Okay, is that is that why it popped up? I don't know um Anyway guys, we'll talk about this in probably tomorrow's video when I do some more research on it But johnson and johnson fun fact if you guys watch my video on friday I actually bought five shares of johnson and johnson for my long-term portfolio in the 127 range So just like cat guys i'm up like six percent on the shares Although I don't plan on selling them anytime soon It's always nice to see when you buy shares in the stock market that they appreciate right away Although again, I'm not selling these guys. This is a dividend play long term But that's pretty cool to see that so overall guys my plan right now for the markets for the stocks in general And ETFs is to watch the market ETFs the volatility ETFs here and see whether or not the markets do get rejected Under those major moving averages and if the s&p breaks that critical support level that I talked about if that ends up happening These market ETFs this volatility ETFs that I trade like tvix, you know sqqq spxs these can be very good plays when the market if the market does Dump and again, I didn't want to get caught in a bull trap today. I really don't Feel the need to trade every single day, especially when the markets are rocky like this I like waiting for the perfect opportunity usually and I know a lot of beginners out there They like to trade every single day No matter what but once you get more experience once you watch the markets every day for a couple of years You understand how things work more, right? You realize that sometimes it's better to just not trade for that particular day So some other ones very quickly here guys. I don't want to take too much of your time Let's take a look at slash gc gold kind of just hovered today Not much craziness and gold other than the gap up that we saw yesterday crude oil Let's take a look at this one crude oil dumped Pretty pretty heavily today down about point six eight percent. It was down heavily yesterday Let me take a look at the one day one minute because honestly, I didn't really track this today We saw okay. It popped up today hit a peak at market open and then dumped DWT would have been a great play this morning. God dang it. I missed it Oh my goodness. This would have been great. I actually called this one out too That's silly of me to have missed it yesterday. Um in yesterday's video. I called it out But anyway, that happens. You can't catch every single play. Um, let's see natural gas here natural gas did quite well Wow 3.5 percent meaning you guys probably had quite a day today. Yes, it did 10 percent So these are just a couple of futures that I'm watching and the correlating ETFs that trade based upon them I'm looking to trade those right so let's see silver very quickly before I do end up this video Let's see what silver did today Up 23 cents up 1.33 percent. That is pretty pretty good there on Silver, maybe we pull back down and retest that 50 SMA that could open up a good opportunity Maybe in us lv right which goes up whenever silver goes up These are just a couple of things that I'm personally watching So that's it for today's video guys If you enjoyed it feel free to go down below and hit that like button Consider subscribing if you want to see further content for me and drop a comment down below Let me know what are your thoughts on the market right now or stocks going up in the short term Down in the short term your opinion on everything going on right now I would love to know and if you guys want to stay further connected with the strife smart community discord facebook Link down below my personal instagram as well as my twitter link down below as well I'll catch you all in the next video. I appreciate every single one of you all Taking your time out of your day to watch this video. It means a lot to me. Peace out guys