 What is going on everybody Astas 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 doing a trading update talking about what I personally did today on the 18th of July in 2019 in terms of my trades and you guys saw in the title of today's video gold broke out we're going to be talking about gold in this video and talking about some price targets that I have in mind right now as Well as taking a look at some other stocks and ETFs that I'm personally watching and looking to trade here in the month of July in 2019 so if you find value in this video if you enjoy the content feel free to go down below and hit that like button Subscribe to the channel if you haven't done so already and let's get right into it guys So the market is going to close here in about two minutes and thirty seconds So I did get a bit of a head start on this video But if nothing drastic happens the markets are going to close green today up ten dollars right now is the SPX Up point three three percent the Dow Jones industrial average is actually Slightly red right now really pretty much at a break-even spot. It's at minus ninety five cents literally not even A big enough dollar amount to register a percentage change here So we'll see if that changes here in a couple of minutes But as of now, you know, it's only up pennies rather dollars nothing much at all the Nasdaq right now It's up pretty good right now up about point four five percent That's a pretty solid day on the NQ up thirty five Dollars so there's actually a critical spot on the S&P that I want to talk about right now So let's just hop to that and then we'll break down some technicals on the Nasdaq as well as the Dow Jones So just judging off of this chart and honestly guys Let me just clear this drawing set and draw some New lines for you guys and kind of do it from scratch because I know every video I kind of have the same lines there and you may be confused on how I pick those lines Why I put those lines there and what they kind of mean so let's just do that right now So pretty much these lines are seeing our supports and Resistances some of them are channels some of them are wedge patterns and we'll get into that right now So this line that I'm drawing right here is going to be a support From the S&P from a couple of months ago back in March and back in June you guys can see at about 27 30 This next line. I'm about to draw Is another support right now for the S&P at about 28 25 this next line I'm about to draw right now is a resistance or rather it's actually still support right now But it was at one point a resistance at about 2950 and let me actually draw that across the screen here. Okay, perfect So this line I'm about to draw for you guys right now is the critical level that the S&P ended up holding Above today and if you guys can see it and I'm sure if you were doing your analysis today You saw it that level is at 2975 2975 dollars on the S&P 500 and if we go in here on the 20-day one hour See and there go the markets. We ended up closing up $10 and 34 cents But you guys can see this 2975 level was an old resistance from the first of July It was a support or rather it was an old resistance from July 1st And then it became a support once we broke out of it and you guys can see we confirmed that level of support a Couple of days here on the 5th of July the 8th of July and the 9th of July We really consolidated on top of that level and then we continued and we really got super overextended We started hitting all-time highs after all-time highs day in and day out And then we started to pull back and that is where we are today, right? We're retesting that spot and it seems like we bounced above it successfully Right now and to draw another level here on the smaller time frame chart take a look at 2995 that's a level of resistance that we actually struggled with here at the close of the market today You can see we broke out of this little downtrend that we were on and we'll talk about that now You know we were on this little pullback from 30 17. We pulled back 50 SMA this green line in the 180 SMA that's yellow line both of them are acting as resistances and today It seems like we found the bottom at that support at 2975 we popped out We broke the 50 SMA resistance Which is a good first sign of a breakout and we broke the 180 SMA Which is a good second sign of a breakout, but now we're seeing a struggle at 2995 which if we break that tomorrow I think that's going to be a third sign of a breakout and from there if we start to get into the 3000 level guys, and I've been preaching this on the channel, you know the 3000 level we need to hold that you know for the S&P in my opinion to continue to potentially test all-time highs and Honestly, just just to continue this uptrend, you know, we need to stay and hover in that 3000 level in my opinion so you guys can see the very clear channel that the S&P is trading in right now It's very obvious. We're between 2775 and 29 or rather 2975 and 29 and 95 It's literally a 20-point channel that we're trading in right now, and you can see it right here guys As you can see in another critical spot. We actually held I forget if I mentioned this or not But is that 50 SMA, you know on this 184 hour chart? That's a very critical spot and the fact that we did hold above this and that support that we just talked about That's a pretty good sign in my opinion on a technical spot for the SPX now All I need to see all I want to see is a break into $3,000 for this, you know really strong rally to continue so going back here to the end Q let's take a look at what is going on here. So this is a trend line that Needs to be readjusted. So let me just remove that very quickly We can see that the end Q right now since it did have a pretty strong bounce back date today It's holding this new trend that I just drew out for you all indicated by this red little line You guys can see the pullback for 8,000 which wasn't all-time high We pulled down about 170 points hit 78 30 ish at a higher low from the previous low at about 7750 and from there we bounced up we confirmed that higher low and now honestly guys It seems like we are gunning for all-time highs again at this point We are about 80 points off, you know, we're not really really close But we are making the move that happens before you know really hitting another high point in the in the Trend right you guys can see this is typically how it starts. We confirm a bottom We pop up now all we need to see is if this is going to continue to push up and tomorrow if tech does well You know if we see futures are pushing up green You know that could be a step in the right direction for us to get to those all-time highs So not much to say really, you know, we pulled back. We found the bottom We're popping now if we take a look at some smaller time frame charts, you know You see a lot of the same right, you know higher lows higher highs all that fun stuff and on the five-day five minute You can see we saw that a couple day pullback, you know in the NASDAQ just like the S&P like we just saw a couple of minutes ago And during that pullback these moving averages were acting as resistances just like they were on the S&P 500 Right the screen line and this yellow line, you know lower highs all that stuff You know we saw the bearish cross there and what do you see today guys? Well, you see that double bottom, which is a first sign of a reversal And we get the break out of the moving averages the 180 and the 50 SMA We get those pops and now we are seeing a lot of movement right now and Microsoft is reporting earnings So I'm expecting that to fluctuate the futures and we are going to take a look at Microsoft's earnings Or at least the reaction to their earnings because um, I don't really have their earnings pulled up quite yet Honestly, I don't even know what they are, but I'm sure Microsoft is moving and we'll take a look very quickly. Yep I am right. Take a look at that guys. It's moving and we'll see Um, you know how the price action is here in a couple of minutes So the Dow Jones industrial average five day five minute You guys can see the break of or rather the attempt to break the channel or the trend It kind of did break the 50 SMA, but it failed to break the 180 SMA So I guess you can say the first confirmation is there. We broke that 50 SMA But the second confirmation of breaking the 180 SMA we got rejected there So tomorrow that's a spot that we need to break if the Dow wants to recover and potentially hit all time highs again If we go back to that 20 day one hour chart You can see it seems like if I just quickly clear this drawing set You guys can see that it seems like and we could probably see it even better on let's say the 90 day two hour It seems like the Dow is doing something like this right now where it's just pulling back You know really resetting from that high of being extremely over extended Seems like it is holding this support of the trend that I just drew as well as the 50 SMA on the 90 day two hour chart Seems like that RSI came down to a healthy spot. So this could be you know We've obviously been talking about the recovery. This is the recovery or rather the pullback the markets needed Now we might be starting to see this recovery and it does seem like the Dow is doing that right now So that's the market update for today's video guys It seems like the markets have found a temporary bottom here after we got a bit overheated I would love to know what you all have to think about this. Let me know down below in the comment section What are your thoughts on the market? What stocks you're watching? I would love to know So to talk about what I ended up trading today guys I ended up trading none other than spx s and this is an ETF that goes up Whenever the s and p 500 is selling off right and this was an interesting play today because if we go to the s and p 500 We can see the downtrend that we've been on on the five day five minute Like I was talking to you guys about a couple of minutes ago Obviously, I made my move during this time period. We'll get into that now before we broke out But during this time period we were still trending below the 50 SMA Which is this green line and the 180 SMA which is this yellow line and when we gap down this morning This is actually what hinted to me that we might have a red day to start out today We gapped down pretty heavily from where we ended up closing yesterday. Take a look. We closed that 29 84 Yesterday and what do I always say about the futures guys the futures I watch these all the time to really indicate where the market could potentially be going to give me some sort of indication Whether it's right or wrong, um, you know to see where the market is going and today We got that gap down which was red that was a red move and that gave me indication that okay The markets could be pushing down Today or at least the beginning of the day and that's what we ended up getting right and typically, you know When we do get this gap down What I like to see is if the market runs and fills that gap in the morning because that's what sometimes happens Right, we gap down, you know, we consolidate and then we start to come back up And that's actually happened multiple times here, right? You can see it multiple times We've gapped down and we filled up gap down fill up and gap down Right, this was the gap down the lower low and we then we started to fill up a bit And when we were filling up here I was looking to see if the s&p was going to break out of that 50 sma Or if it was going to continue this down trend that it has been on over the past two three days by getting rejected By that 50 sma and continuing to press Down and that's exactly what we ended up getting right the gap down We popped up. We didn't break out of that 50 sma We retested it and then we started to get nailed down and at this point spxs if we go back to that spxs etf very quickly you guys can see at this point spx was actually getting battered down because the s&p was pushing up and when the s&p pushes up again This spxs etf is going down and that actually ended up working out well for me because it opened up a nice margin of profit You guys can see from 1770 down to about 1755 nothing crazy But it opened up a 1% opening roughly and you guys can see you know as the markets have been selling off At this point in time this pullback was actually a higher low from the previous low When it was in the continuation of the uptrend as well as on top of the 180 sma So in my eyes, you know, this was a dip by if the markets the spx Was to get rejected by that 50 sma that we just talked about which it ended up doing So we got rejected there guys that gave me the go to to start a position in on spxs and you guys can see we pulled back Held started to pop a little bit at this point. I was already in I believe I got in at about 1760 A bit early because at that point, who knows we could have got rejected by the 50 sma Sometimes I do jump the gun, you know, ideally it would have been best to get in at about 1765 But I did get in about 6 7 cents before that at about 1758 and as we fill the gap up to the pre-market Resistance and honestly the resistance from the aftermarket hours from yesterday As you guys can see at about 1772 and as we started to crack above that I just took my profits at about 1773 and you guys can see that was about a 0.8 0.9 quick little scalp in and out trade on spxs so that's what I ended up doing guys and I like playing these when the markets um Are volatile and obviously selling off right and when they're selling off when they're in that down trending pattern Like I showed you guys and walk through you guys with the spx You know, I like seeing in the morning What the s&p is going to do if it gaps down and pops up like it did a lot of the times that opens up A potential entry point on the short ETFs if the market were to dump and let's say on the flip side here You know, I'm watching it and I'm looking to go short on the spx, right? And let's say it breaks out of the 50 s&a the beautiful thing about it is there's an inverse to the spxs ETF It's spxl. So if we were to break out here and Potentially we're like, okay, the markets are going to recover from here Which they ended up doing a bit later in the day. This is actually a perfect scenario, right? You know, we tested it here at the 50 s&a instead of going short again, you know Because we were seeing a resistance, you know, we went long You could have went long if you were to catch that break here the pullback to retest and the pop You could have went long here on spxl, right spxl You know, if you time that you would have made a pretty good amount of money there a really good amount of money Honestly more at like two three percent and depending on what your account size is, you know, that's you know It could be $20 a hundred dollars a thousand dollars or whatever it may be, right? So spxl, you know, that could have been a good play But overall that's what I ended up doing today in the session guys So let me know down below in the comment section what you ended up doing I would love to know any stocks you're watching looking to invest in doesn't have to be trading You know, if you're looking to invest in a long-term position, let me know down below any earnings plays you're watching I would love to know so now let's quickly go through gold because in gold Um, there's a spot that i'm watching right now that is very very Um likely in my opinion, maybe not in the next year whatever however long it takes But I think it's likely in the next couple of months, whatever That gold could potentially get to this level and before you guys freak out and be like, oh, that's too big of a move You're crazy hear me out on this technical breakdown So you guys saw 15 50 is that target around 15 30 15 50 whatever it was you guys saw it in the title of the video And if we stretch out gold and you guys obviously know at this point Gold has been on a ridiculous bull run right from 1275. It's ran up almost 200 dollars and about two months That's absolutely crazy, right? But if we break it down from the 20 year chart Let's see some history on gold here guys. You guys can see We were at almost $2,000 an ounce a couple of years ago in 2011 and after that We obviously dipped to about a thousand. We almost lost 50 percent in gold's value and from there We've been on the recovery phase over the past four or five years in gold right from the bottom now We're at about 1400 1500 dollars and notice how these two trend lines are seeing right here ones at 1440 Which just happens to be that resistance that we are breaking out of right now, right 1440 ish, right 1430 to 1440 We're breaking above that level guys. We're touching 1450 right now And if we go back to the 20 year one month chart, you can see the next spot Is that 1530 to 1550 level that i'm talking about right and if we zoom in a little bit This could definitely be the next gap fill on gold on a technical perspective here You can see we've been breaking out of resistance after resistance We've been filling gaps left and right take a look at this other gap that we filled just a couple months ago You know, we went from 1350. We filled the gap up to about 1430 where we are right now that was a resistance from a couple of years ago in august of 13 What makes you think that as you know the economy begins to be More scrutinized, you know, you know the global earnings continue to slow down the economy start to slow down People start to flock to gold. Don't you think this could end up pumping up to 1500 1550 and fill this next gap Especially that now that we're at the end of the economic cycle, you know We're towards the end of it. No one knows exactly when the recession is going to come But people are getting scared right now. They're preparing. They're buying gold You know, I definitely think that you know, 1530 to 1550 could be a spot that we end up going to Especially as these times if these times get worse here as in these next couple of months in the next couple of years And just to clear this up guys gold in my opinion is not an investment It's just a hedge against the dollar because a lot of people think the dollar's manipulated You know central banks manipulate a bunch of things which you know, they might you know, they might you know But gold for the past 2000 years This is a lot of people's arguments gold in the past couple thousand years is a real form of currency You know it holds its value and a lot of countries use it So it's deemed to be more valuable, you know in some people's eyes than the dollar so in times of havoc You know as a lot of people think are coming people flock their money Into gold as a safe haven, right? So that's kind of just the rundown my opinion on gold right now You know, this could definitely happen, you know If the economy crashes whatever does end up happening if if we go into a depression Who knows guys if things end up going down if things hit the fan this could end up flying, right? So that's a lot of what people think and I honestly think that as well So that's gold and now that we're on the topic of gold Let's take a look at jnug and jdst that i've been on an absolute tear Sure, we have this long-term perspective of of 1550 on gold whatever 1600 on gold But before we get there there's going to be a lot of ups and downs in the short term and right now In the short term we're getting those ups and downs and in the short term We could definitely pull back down to 14 20 14 30 and that is what i'm looking at right now on gold So we're a bit overbought now that we saw this extreme bullish move after we broke out of this channel That we were talking about in um yesterday or the previous days video I forget what video it was but we were talking about this so now that we are running up You know, we're overbought we may experience a bit of a cool off like we kind of did here Before we do end up popping up to 14 75 maybe 1500 dollars and in that case If we do get the cool off guys jdst is going to be one that i'm watching which is an etf That goes up whenever gold is selling off. So this one's down 18 percent today. You heard me right 18 18 percent So if this one recovers a bit maybe goes back up to that 50 sma if gold does end up selling off This could end up being a really good recovery play here, but let's say on the flip side Jnug which at this point i'd be very scared to get into jnug if i'm not already in from these prices because at this point If you're chasing jnug guys be very careful because People are catching cases of fomo out here fear of missing out. You can see this chart I'd be very careful to buy up here because this can all collapse at any second because it's overbought gold's overbought It could pop back down it could experience a bit of a cool off a bit of a pullback And typically i'm not chasing stocks that are at all time highs or at the highs of their chart when they're overbought I like buying in on dips. So at this point, we might get a cool off whether it's at 80 dollars $75 i could be completely wrong. We may not get a cool off But if we get that cool off, which is ideal jdst could be a play Before hopping back in on jnug if gold continues this run, which i personally think guys I think gold's going to be hot here for the next couple of months. It just seems extremely bullish Technicals are not pointing to downside and i like to follow the overall trend and the overall trend right now on gold Is pointing up. So that is it in the gold analysis spectrum of things here netflix Is another stock that really didn't do much today from the last time that i checked it It's just consolidating at this point at that level that we talked about in the earlier video today And if you guys want to see a more in-depth analysis on netflix my opinion on it competition what to expect supports Resistances technicals go check out the video i uploaded earlier today It's a netflix video the whole video is pretty much netflix base So go check that out. But the basis of it is at this point We're just consolidating on 320 Maybe we fill the gap up to 340 dollars Which was a support from the past couple of months and over the past couple of months guys the pretty much the whole 2019 year We've just been trading horizontally from 340 to 380 and now this big dump with the subscription cut That is a bit worrisome, especially with the competition coming in here on netflix And again, if you guys want to see more in-depth my opinion on that There's a whole video dedicated to it the previous video from this one So some other ones i'm watching j and j at this point not really showing a bottom But i'm still watching to see when it does find that bottom if it finds that bottom anytime soon And when slash if it reverses back to the upside because at this point Every dollar it's dropping is opening up more margin of profit and in my opinion guys I think j and j is going to come back here Whether it's this week next week the following week The point is i think it's going to come back and i'm just watching it daily And i'll be sharing it with you guys in this video sharing my opinions Daily or whether it's every other video or whatever because when it does end up reversing finding that bottom It's going to be a very sweet Swing trade and i'm ready to deploy my money But the opportunity just needs to present itself as i always say in these videos I'm not forcing j and j right now. I'm not forcing it because it's not reversed yet It's still a falling knife. It hasn't found the bottom But when it does find the bottom and pop i'll start to ease my money into it 10 percent 15 percent at a time And then scale into it over a couple of weeks couple of days. However, it does end up playing out. So c l Very quickly guys. Let's take a look at c l. What's going on with the good old crude oil here This one's actually dumping very heavily. It broke the 180 sma support Which we talked about in yesterday's video and in this morning's video if it continues this rally guys to the downside We may be going to 54 dollars, which is a resistance old resistance now a new support So that could be a spot where we might hold and then fill back up to 57 But at this point guys, i'm not really liking the trend on crude oil. It's not really In a distinct direction quite yet. It's obviously pointing down, but we're holding the support right now You know, we're not really at a point where we're full on, you know full blown Down trending since we are still holding the support, but I do think that Eventually we're going to pick a direction We're going to pop up and if we pop up and fill it to 57 You know uwt might be a play there, but if we you know continue downwards we break into 54 You know dwt is going to be the play so i'm watching these you know again the pattern's a little bit funky There's a lot of other ones that I like besides this one, but I still figure to keep an eye on it So before we wrap up the video msft guys, let's see what is going on right now Let's see if the live news tab could show us what the earnings are very quickly before I do wrap up this video Let's see. Let's see 7 18. We don't really see oh wait wait wait wait wait wait wait Here it is guys a eps. Oh my goodness $1.37 of eps it beats on the 121 estimate. Oh my god. That's really really good 33.7 billion in sales beats on the 32.75 billion estimate So good job microsoft the initial earnings are good very very very very very good So let's see how that stock is reacting right now Okay, one day one minute and of course it's reacting positively guys We closed at 135 and the funny thing is we were talking about this in the discord chat today I was talking about a bunch of other people were talking about you know microsoft's looking pretty juicy heading into earnings You know, we're dipped down from 140 to 135 You know, we're trending above the 180s who made the uptrend still intact, right? We're trending above 134 135 ish, you know above that 133 old resistance now in new support You know, it's looking pretty pretty good But me personally guys, you know this for all the og's that watched me for a while for people that Been watching me for months whatever, you know, I don't really hop in before earnings I like seeing the earnings and the guidance before hopping in I don't really like gambling on earnings plays But if I were to do gamble on this one, I'd be up right now But just because it's up right now guys a quick little warning does not mean that it's going to open up at this price Trust me I've seen a lot of stocks in the past the report earnings They spike up 10 and believe it or not They literally open up at zero and then go down and be read for the day Isn't that crazy like sometimes it doesn't end up opening what it shows After the earnings report for all we know this could this could go red tomorrow, right? And at that point I'd be looking to potentially hop in that would actually be ideal for me But in this case guys, I didn't get in Oh, well, let me know if you did end up getting in down below in the comment section I would love to know and I'll guess I'll wrap up the video here So if you enjoyed the video feel free to go down below and hit that like button If you want to see further content for me feel free to go down below subscribe to the channel hit that notification bell So you're notified every single time that I do make a video and join ours discord group chat guys If you haven't done that already the strive smart discord group chat is linked down below and I'll link it in the comment section The first pinned comment get in there. We have about 800 people very helpful community We're talking all day calling out stocks and it's 100 free of charge If you want to get in touch with me DM me whatever it may be talk to our community That's the best way to do it and the facebook groups link down below as well the strive smart instagram and my personal instagram too So all that's linked down below and I will love to talk to you guys on those platforms So I'll catch you all in the next video. Thanks again for taking the time to watch this. I appreciate it. Peace out