 What is going on everybody is Stas 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 what I did today in terms of my trades as well as taking a look at some other stocks And ETFs that I'm personally watching and looking to trade here heading into the month of September and kind of just wrapping up The month of August in 2019 here So if you find value in this video feel free to go down below and smash that like button It really supports me and supports the channel in general and feel free to join our Strive smart Facebook group and the Strive smart Discord group chat those are linked down below. So guys, let's get right into it now the S&P 500 ticker symbol SPX the 500 largest publicly traded US companies ended up closing the day today up $18 and 78 cents up 0.65% so pretty strong green day out of the S&P 500 today going over here to the Nasdaq We can see up $36 and 50 cents up around 0.5 0.48% to be exact here another solid day for the Nasdaq if we go to the Dow Jones Industrial average guys it had a 1% day It was up 258 points and you may be asking yourself Why was the Dow a lot higher in terms of a percentage well Boeing had a pretty good day today And that has weight on the Dow Jones. You guys can see Boeing was up about 1.5% These are just some of the you know top performance up in the in the Dow And I believe UNH also had a good day today as well up around 2% up $4 and 42 cents So overall across the board the markets today were pretty green and you can see on on you know the S&P the Dow the Nasdaq I have a bunch of trend lines drawn across because I'm looking Religiously at the support levels at the resistance levels seeing where we could potentially get topped off at where we might hold Etc. So I kind of want to go over that with you guys right now And it's honestly no surprise based on what you're seeing here You know, it's very obvious to see that the S&P has held 2850 very nicely and it held that level twice in the past on the 1st of August to the 5th of August and in the middle of August on The 13th of the 14th and then now towards the end of August I've been talking about this level and pretty much every single one of my market update videos here on the channel And honestly until we break that guys, you know the S&P really has potential to go either way here especially if we pop out and break out of the moving average resistances, let's say we break back into 2,900 and especially if we break past 2,930 and start to get up into the mid 2,900 I think that there would be a lot of bullish potential if we do that But on the flip side since we very nicely, you know, and we break that we could be going down from that point in time Maybe down a low 2,800s maybe even back down to the 2,700s But the fact that we've kind of been trading in this horizontal pattern here if I zoom in Honestly, if I go to the 20-day hour chart, you guys can see it even better. Actually, no, that's not the 20-day This is the 20-day you guys can see Horizontally, we've been trading in a very clear range of supports and a very clear range of rather support and a very clear range of Resistance we've literally had a triple top and a double bottom now So whichever way we pop out of this horizontal pattern is really the direction in where the S&P is going to be going at least in the short term and Those moving averages as well They're very important in determining the direction of the S&P 500 as of right now You know if we get rejected by them that might be a bearish move Especially if we break below 2850 if we break above them start breaking into 2950 high 2950s Whatever it may be that's going to be bullish, right? So if we go over here to the NASDAQ kind of a similar thing here You know we're trending under the moving average resistances on the hourly chart here You know under the 180s ma and right now we're peaking above the 50s ma But overall the trend is still pointing down, right? We have a bearish cross here Which is whenever a smaller timeframe moving average crosses below a larger timeframe moving average, right? This yellow line you see here. This is the 180 day simple moving average This green one is the 50 day and we clearly see the 50 day has crossed below the 180 and that is a bearish move Right if we go a bit further here to the 184 hour Right you guys can kind of see we're trading in a horizontal channel just like the S&P We're trading, you know above 7450 which which has been a solid support where we bounced twice in the past and the Resistance we're seeing here is at around 7700 to around 7775 right that's the clear spot where we've seen a triple top at and then a big Rejection so if I just drag this across you guys can clearly see it even more right So whichever way we pick just like the S&P if we break out here if we just dump below the support That's the direction that we're going to be moving right in the Nasdaq at least in the short term and of course depending on You know what's going on in the economy at that point is the media blowing something up Is there a trade war tensions? Are they heightened? You know a lot of things can play into the psychology of where this ends up Moving and I in my opinion guys if we have something with the trade war again Something blows up on Twitter whatever it may be new tariffs We're going to be moving in the downwards direction in all the markets because each time we've gotten that in the past The markets have dumped for the most part right so let's go to the Dow very quickly guys Um, you can see Dow right now is holding above 25800 we're trending still below 26 200, but we're just in this channel between 25 500 and about 26 200 roughly a 700 point range We're trending under the moving averages here both the 50 and the 180 SMA But again just like the Dow or rather than that is that in the S&P whichever direction we pick If we break above that resistance, that's 26 200 we break above the 180 SMA That's going to be bullish right if we get rejected here dump below 25 500 That's going to be bearish so at this point since all the indexes are trending, you know in a in a Horizontal channel right now. We just need to see what direction we go to if there's anything You know going on in the economy again Like I said that's influencing the direction because that can have a heavy pull whether it's positive or negative It's just really important to just keep an eye on everything right now guys especially with how sensitive the Markets have been how volatile they've been you know if you're trading if you're looking to buy in into long-term stocks And you want to like kind of time your position on one of these days where the markets drop I think it's very important and just steady watch the markets Understand what triggers the market negatively positively and just keep an eye on the news right everything that's going on day to day I just think it's super important whether you're looking to invest or you know trade a stock Of course trade a stock or swing trade day trade whatever it may be so that's kind of the market update for today's video Let me know down below in the comment section. What are your thoughts on the market right now? What are you looking to do with your money? Are you sitting on cash? Whatever it may be? I love talking to you guys down below. So let me know so today guys I Ended up trading Altria ticker symbol M. Oh Altria is a stock that I actually talked about this morning I was watching it due to the hype around well not really the hype at this point more of the news surrounding a potential Remerger between Altria and Philip Morris. So this is a comp or these two companies tobacco companies They were actually united back in 2008 and or before that too and that's in 2008 is when they actually ended up Splitting ways and now they're looking to potentially come back together as a company reunite Remerge and that news actually came out yesterday morning You guys can see Altria popped up all the way to 52 So it kind of had that really big, you know initial reaction that it ended up dumping heavily at that point You know that was over a 15% move from the peak all the way down to $44 and you guys can see that support actually held throughout the data The aftermarket hours and into the pre-market hours of today's session and that support being at around 45 ish dollars if I get one of my little tools out here you guys can see Excuse me guys my voice is a bit scratchy today, but you guys can see 44 I guess you could say 45 44 80 roughly that general area is a strong support So, you know, we popped up to 45 60 I think that was yeah, that was this morning pre-market ended up pulling down to roughly that support level today Opening up that margin of profit that I was looking for and just because you know I was looking at this simply because of the news catalyst, right? A lot of the times these might end up running the day after although the news already came out the day before It's kind of weird. It's tricky sometimes but sometimes, you know stocks do end up running So this one ended up dropping 1.8% not anything crazy But the retest and then the pop on this support is what kind of gave me Kind of the initial okay, maybe I should take a look at this one Maybe I should potentially look to trade it because it was on my watch list again I talked about it in this morning's video for those of you guys that were able to catch that so, you know We started to trend up here We broke moving average resistances and this is when I started to scale in at about I believe like $45 and 23 cents and then I started to ride up and then once we ended up breaking out of this Resistance, which was the resistance from this morning. I ended up adding a bit more money bringing my total position to around 45 doll I think it was like $45 and 40 ish sense and then after this pullback and this pop is what I ended up selling off guys when We started to pull back here. I was like oh crap I'm like even right now, but then when we held that 50 SMA if we were to break there I might have taken a break even or just a tad bit of a loss on the position if we were to break down here It made me get back down on like the 45 30s whatever it may be But the fact that we held a higher low on that 50 SMA that kind of gave me Honestly reason to just continue to hold it and just play it out and write it out And that's exactly what I ended up doing You know ended up just taking the profits once we filled the gap back up at like 46 10 just to play it safe So from where I ended up getting in guys up to 46 10 you can see it was a day trade of about 1.5 1.4 ish percent so that is what I ended up doing today all Shria is just honestly one that I'm going to be continuing Watching because any news that might come out this who knows it might tank the stock It might pop the stock up if they actually do end up merging. I'm just really interested in seeing What's going to happen with ticker symbol mo here? So that's it for the trading update portion of the video. Let me know down below what you guys ended up doing Trading today. I would love to know so to finish off guys I want to talk about a couple of stocks that I am pulling up on my phone right now that I am watching For the rest of this week and honestly heading into the month of September so the first one is Bank of America ticker symbol BAC so BAC at this point Looking at the four-hour chart we can notice one very good thing about it We see a double bottom on the previous support at around $26.43 and that's where we actually bottomed out at when we sold off in the markets in the month of May BAC got from $31 all the way down to about 26 30. We hit that level again in the middle of August This was literally 10 days ago. We hit that level. I was actually watching it During this time period to see if it was going to hold it. I didn't end up trading it no big deal Right, but now we're seeing a juicier opportunity because listen to this guys double bottoms Usually indicate to a potential bullish breakout in a stock, right? So we're seeing a double bottom now all we need to see in my opinion is a pop above the 50s and a Resistance which we've clearly struggled under over the past couple of really the past 10 days because the past 10 days is Where we've been down trending in BAC stock So I think if we end up popping breaking out above this level maybe 27 25 2750 this is going to be a point in time where I'll definitely be taking a swing position in BAC and managing my risk Accordingly because listen to this guys if you get in at 27 25 27 30 your Risk is about 2 3% to the downside really down to that You know support level here But of course if you have a stop loss of 2% your risk is only 2% right But just judging off of the levels here in terms of support resistance, you know your maximum downside based off the technicals here Right again 2 3% your maximum upside if we get back up to $30 even let's say $30. That's around 9% Let's say we get back up to those highs at about 31 dollars. That's around 11% So the risk is about 2 3% down to the support the reward is roughly 11% So I'm liking that in terms of BAC. I'm just waiting for that pop above that 50s and may I think that's going to be very Very important another one here is ticker symbol T No one really talks about this this stock that much but T has been on an absolute roll this year AT&T this is one of my long-term investments. I've been buying this one Not as low as 26 is to be completely honest with you guys But I've been buying it in these levels like 30 31 32 I just like this company the dividend I like the debt repayment program that they're doing because they do have a lot of debt They're trying to shave that off and I like the dividend and the future of 5g for the company That's just a very gist. You know why I like the company overall, but on a trading perspective here from a trading perspective We hit a peak at $35.60. We're pulling back down now and there's this area There's a zone at about $34 to about 34 50 where we need to see T Hold above if we hold that old resistance where we double-topped here a couple months ago a couple weeks ago Actually, we hold that level we pop above the 50s and may we're also going to be holding above the 180s And may support here on the four-hour chart. I think that's going to be a very good You know dip by on on ticker symbol T here for potential swing trades So there's a lot of swing trades that I'm watching right now. Honestly, it's T It's BAC BAC obviously has a lot more potential than T You know T if we end up getting on the dip here, you know up to the highs That's about 1% 2% if we end up breaking above maybe to you know another high here Maybe $36 if we continue this upper up trend of higher highs that might be a 3-4% Trade there, but still you know riding the momentum not fighting the trend just riding the trend This could be a very good Entry point on ticker symbol T. So I'm watching that One that a subscriber and a discord member ended up calling out wanting me to talk about is MGI and this is a stock that you guys probably know this by now if you've been following my channel This is not really my style of stocks. I don't really trade penny stocks to be completely honest with you guys I really don't trade penny stocks ever. Maybe sometimes if I see an opportunity You know Neo stock was one of them which I'm actually still holding that was more of the kind of like a long-term spec play That wasn't necessarily a day trade But that's actually the only like penny stock that I own in my portfolio and it's just actually a speculative Play but in terms of like short-term day trading Um, I'm not really doing too much with penny stocks. I'll be completely honest with you guys But you know these really rely on volume and they rely on Not really to say hype because I don't know about this company in particular But a lot of penny stocks they revolve around hype So if someone if there's a catalyst around it it might pop a hundred percent whatever it may be you guys can see here On this chart, you know that very well could have happened here with MGI They might there might have been there's definitely a catalyst on this day because the stock went up Hundreds of percent literally like a hundred fifty percent in the matter of one day But you guys can see at this point, you know on a technical basis. It seems like it's filled the gap back up to That point in time where it ended up flying up from all that I'm guessing hype right and at this point if we look on a on a larger term basis Okay, this is actually looking decent on a long-term basis. I'm not again I'm not too sure about this company. What fundamentals caused it to go from 17 a share down to a dollar That's that's that's probably not a negative thing, right? We've seen Fitbit go down from 50 down to $3 go pro the same So I don't know if this is a similar scenario, but you know technically speaking here We've broken above the EMA. We've broken out of the 50 SMA now That's a pretty good sign and we're looking to test that resistance at $4 that we saw in the four-hour chart that if We break above it, you know, there's some levels that we might be getting to we may be getting to 450 next We may be going up to 575 Right, we may be going back up to 630 Another one I'm watching is $8 here and if we zoom back in you probably won't see it because the chart doesn't show that high But let me go to the one year. Let's see if we can see it on the one year There we go. Perfect. If you guys can see it, you know, let's say we end up holding this level, you know Although we are overbought. I don't know how that's going to end up playing out But let's say we end up getting some hype around the stock again This could end up flying up to 450 right very easy and especially if there's volume coming in So, you know overall this one may pull back, right because again, we're very overextended we may pull back and retest that 50 SMA on the four-hour chart that could offer a dip by if you do You know want to take a you know This particular position in a penny stock whatever your style of trading is, you know We may be pulling down to 375, you know on this hourly chart that you guys can see There's a lot of different places that this one could be going to again It's not my style, but hey if you like trading, you know a high volatility stock stocks I can run up a hundred percent two hundred percent This one's proven to have done it in the past it's done it again Literally in the past couple of weeks, so hey it might level up again to six dollars whatever it may be And I'll just keep an eye on it for the next week to kind of see if my analysis ends up panning out But that's it honestly those three are Ones that I'm personally watching CMG I guess you could throw this one in as well. I talked about it this morning This one's setting up in my opinion to maybe pull down a bit to the 50 SMA That could also open up a potential swing trade on CMG there a dip by I'm liking that Let's take a look at some inverse ETFs very quickly before I do end off this video inverse ETFs Natural gas. Let's see what it's doing. It's breaking out guys. This is a pretty good sign We're breaking above long-term moving average resistances here on the four-hour chart Now I would love to see it just continuing to pop and get into the two thirties You guys goes up whenever natural gas goes up So this could be one definitely just keep on your watch list because when natural gas gets in that bull run phase You know when winter comes around, you know, it does pretty well typically I'm not saying it's always going to do well, but it typically does well and you can see We may be popping up and this could be a perfect dip by on you guys So that's it guys. I kind of have to run here. I have some errands to do So I hope you guys enjoyed this video I was a bit quicker than normal or at least it feels like it was but if you did enjoy the video Feel free to go down below and hit that like button consider subscribing if you want to see further content for me Whether it's stock market trading investing long-term investing personal finance just tips in general This is the channel for you and feel free to share this video with a friend for those friends of yours that might find it Useful so I'll catch you all in the next video. Thanks again for watching. I really appreciate you guys. Peace out What is going on every