 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 like always talking about the S&P 500 the Dow Jones and the Nasdaq we're going to be doing a trading update talking about what I ended up doing today in terms of my trading on the 21st of May in 2019 as well as taking a look at some other stocks and ETFs that I'm personally watching some that I see potential in here for the rest of this week and heading on to the rest of this month here in May of 2019. So before we do get into the topics of today's video for everybody out there that watches these videos you find value in these videos feel free to go down below and hit that like button it really supports me and supports the channel in general and if you're new to the channel and you enjoy the content that you do see here in a couple of minutes down the road feel free to consider subscribing I'm posting content day to day here doing market updates trading updates trading tips videos on personal finance investing stuff like that so if you're interested hit that subscribe button become a part of our community and let's get right into it guys so the SPX the S&P 500 index the 500 largest publicly traded US companies ended up strong today guys very strong up $24.13 here up 0.85% at the close of the markets the Dow Jones industrial average up 200 points today about 197 points up 0.77% at the close of the market and the NASDAQ guys pretty strong day here from that little pretty big actually red day that we saw yesterday it was up today around 70 points up about 0.96% guys so seems like the markets ended up really just erasing the losses that we saw yesterday and if you guys didn't see what ended up happening yesterday we had a bit of a gap down and we pretty much again just recovered the losses closing roughly where we ended up closing on what was this on Friday right on Friday afternoon on the S&P we closed at about 2860 ended up closing today at about 2864 on the SPX so let's just hop into some technicals here see what is going on see what I'm personally seeing or rather talk about what I'm personally seeing here in the markets and kind of my mindset where I'm viewing things right now are potentially going let's just get into it guys so on the 184 hour chart we talked about yesterday the critical level that the S&P 500 was trading on right and that was the 180 simple moving average support here on the 184 hour chart we had those two pulled back days Thursday Friday last week pulled back again on Monday seems like we were maintaining this 180 S&P support at the close of the market at a higher or low from the previous meaning the uptrend was still intact and this is in this was a critical spot because if we were to potentially break it today in terms of the support going below it that could issue more selling that could be a bearish sign in the overall markets right but if we were to hold above it which we ended up doing today and we bounced above it that could really signify the continuation of this little uptrend reversal that we've had over these past couple of days and as we can see that is exactly what ended up happening right we held the 180 S&P support we not only held it but we bounced above it about 1% above it today with the nice green day that we had in the S&P 500 and hopping over here to the five day actually no let's talk about the 20 day one hour first and this chart is kind of showing us how the S&P had a strong resistance actually at about 2860 today roughly at about 28 actually no let's say 2870 we notice we went to 2870 roughly went there again towards the end of the market here and again and we had three separate rejections at that point and if we're looking on a longer term or rather back to that 20 day one hour chart we're noticing this resistance is putting the S&P actually no this is actually a way better chart to look at the 10 day 30 minute this little resistance at 2870 from the intraday chart is putting the S&P 500 at a lower high from the previous one from this past Friday and it's also showing us there's a resistance under the 180 S&P here on the 10 day 30 minute chart so this is actually a sign that the S&P could be gearing up for a pullback right so let's say tomorrow the futures are pointing down let's say the futures are negative 15 points tomorrow morning that could potentially tell us as traders that were us as people that are analyzing the market that were really getting rejected by this 180 S&P here on the 10 day 30 minute and we may be doing something like this follow my cursor here we may be doing something like this where we're selling off and potentially looking to retest that 2835 to 2840 level where we were in yesterday's session so this is really important I know I preach about this in every single video but it's important to keep an eye on multiple different timeframes because if you're just looking at one time frame you may not catch something like this this little detail that we're seeing here on the S&P and it may alter your decisions and you may make a bad decision based on not doing enough technical analysis right so this is what the S&P is telling me we had a good day today but the smaller timeframe trends are showing me that we're still in a little bit of a downtrend here we're still at a lower high from the previous two that we saw on Thursday and Friday and what I would need to see at this point for the S&P to break out of this trend is pretty obvious well it seems to me pretty obvious but to you you might you might not see it but we might or we will need to see a break out of this 180 S&P resistance right we would need to see a break out potentially test back up into the 2870s 2880s at that point we'd be testing this resistance from Friday and if we break that level that could be a very good sign that the markets want to keep pushing up and maybe get back into the 2900 level on the SPX these are some things that I'm personally watching so that's kind of the rundown here on the S&P 500 largely on a large scale here it seems like we are holding above the 180 S&M it seems like the uptrend is continuing on a long on a large scale basis here but going into those smaller time frames we kind of get to see what's been going on over the past couple of days which is showing us maybe we're maybe we're at a point here where the S&P might be selling off a bit more and again super important to look at a bunch of different time frames so the Dow Jones industrial average this one's actually breaking out a bit on the 10 day 30 minute we notice on the SPX the resistance here this one's breaking out we noticed this past Thursday and Friday same exact thing with the S&P right these two days on the Dow they were under the 180 S&M with the 180 S&M acting as a resistance that's no really you can't really doubt that by looking at this chart and we're noticing now we struggled a bit this morning to get out of that resistance here on the 10 day 30 minute but towards the end of the day we ended up breaking out of that resistance but if we're looking on a longer term basis here on the Dow Jones industrial average we're actually still trending below the 180 S&M this little yellow line on the 184 hour chart so ideally here for the Dow to continue this little uptrend push that we've been on over the past couple of days here of higher highs higher lows we need to break out of the 180 S&M resistance and ultimately the 25,900 to 26,000 dollar level of resistance that we struggled to get above on Thursday and Friday of last week as we can clearly see on these two days of trading right strong resistance sold off and now it seems like we want to test those levels again so for the Dow really to just continue this uptrend that we've been on over the past couple of days we need to see it break into 26,000 dollars at that point would be trending above the 180 S&M and would be getting closer and closer to the next level of resistance at that point which is at about 26,200 dollars on the Dow Jones and on the one day one minute you guys can see here you know unlike the SPX where it had a bit of a resistance at a level the Dow was pretty much breaking you know the intraday highs throughout the entire day right we noticed the beautiful uptrend all day breaking highs breaking highs higher lows higher highs all of that different stuff so if we're going over here to the NASDAQ very quickly slash NQ we're noticing a bit of the same on the 184 hour chart here we're noticing that we're holding above 73.50 as a support we're trending below the 50 simple moving average right now at a potential lower high from the previous which would be really the continuation of a descending pattern in the NQ if we were to get rejected by this 50 S&M and maybe start trending back down into the 7300 level that's what I'm personally seeing right now we're trending below or between rather 73.35 73.50 and about 75.20 roughly a 200 point level in the NQ here hopping over here to the 20 day one hour we're noticing that this one is still in a descending down trending pattern here with the moving averages still acting as resistances we almost broke out of it here on the 16th of May but then we had that big red day yesterday I know you guys recall it was about a 1.5 percent red day we still ended up holding a little bit of a higher low here right but with the sell-off that we saw yesterday although we were at a higher low it's still holding us below these resistance levels guys right these resistance levels that we're seeing here the 50 and the 180 S&M and we're also noticing a bearish cross of the 50 S&M below the 180 S&M slowly starting to form here which is kind of raising some red flags to me for potential sell-off but let's say tomorrow we don't end up getting rejected here which would issue more selling off my personal opinion let's say we end up breaking through here we notice the futures are green in the morning we end up breaking up here and maybe retesting let's say 7500 slowly climbing into the low to mid 7500 level that can issue the real really the continuation of the uptrend here and at that point we should be breaking some longer-term barriers here longer-term resistances like that 50 S&M that we talked about a couple of minutes ago here on the NQ and if we're going here to the five-day five-minute we're noticing we sold off and now we're seeing a bit of a bullish you know cross on the five-day five-minute for the NASDAQ and that's just honestly what I'm seeing right now guys the sell-off we saw that again yesterday the big sell-off and from there we've been recovering pretty nicely over the past 24 to 36 hours I would say in the NQ so are the markets going to continue to recover here are they going to continue to push up there's a bunch of resistance barriers that we need to break out of that we covered in the NQ the Dow and the S&P and if we do break these levels guys and we start to see some more stability you know this could be what we need to see for the recovery but still remember that we're still in the midst of a bunch of drama out there in terms of the economy with other countries you know Iran the trade war that's going on right you know the the the elections are coming up here I know that that's not that doesn't have much effect on the markets you know right now as it will in a couple of months but these are some things that could really just fluctuate the markets up down continue to have or really just continue for them to be volatile due to all these different things going on with the economy all the stuff that I just mentioned so just be just be cautious about that or really just be mindful about that right understand all these different things and understand the time period that we are currently in in the market it's just kind of a difficult time right now you know pretty much it's been much more difficult now to trade in my opinion and to spot trends than it was over the past couple of months but that's not really news to us guys we know that over the past couple of weeks the markets have been extremely extremely you know volatile right so let's just talk about a trading update very quickly and quite honestly guys there is no trading update video for today because I didn't make any trades right I try to be or I am all the time transparent with you guys about my trades I tell you when I take a trade when I take a loss when I'm in the green stuff like that you all know that by now and I also tell you days when I don't trade whatsoever and today was one of those days guys to be honest I wasn't at my computer really not much at all today to be honest right I had a lot of errands outdoor stuff that I was doing outdoor work stuff like that and I wasn't really able to hop in any trades today but sometimes guys like I say a bunch on this channel the best trade out there to make is no trade at all so again no no trades for me guys but that doesn't mean that I'm not doing my analysis looking at stocks planning for the rest of the week and planning for the rest of the month quite honestly guys because of course I'm still doing that but I just didn't see any opportunities out there in the market for me out of the ones that I was watching in my watch list there just wasn't much movement and I'm a firm believer of not forcing opportunities right let the opportunities come to you and when those opportunities come to you take take action on them take full advantage and I just didn't see any opportunities today guys to be completely honest raw and transparent with all of you guys out there that's just the truth so let's talk about now that I got that out of the way let's talk about some stocks that I am watching and some stocks that a bunch of people in our community and the stock market community either on YouTube you know just a bunch of other communities out there are talking about now so the first one that's on my phone here that I do want to talk about is 3M ticker symbol MMM and this is a stock guys that's gotten absolutely clobbered over these past couple of weeks if you think about a stock that's gotten hammered think about 3M and understand that this one's probably gotten hammered more than the one that you're thinking about right 3M is literally down like I think it's 25 to 30% from its peak of 220 which was about literally a month ago 220 on the 23rd of April of 2019 yes that was about a month ago and just notice this this is a pattern that I like to call and I didn't obviously make up this phrase this is a phrase that stems years and years and years ago a falling knife a falling knife is pretty much a stock that continues to fall day in day out no bottom in sight it's just literally falling it's like a falling knife just think about if you hold the knife in the air and let go what's it gonna do it's gonna go straight down and that's the whole um this is really the whole pattern that I'm seeing here on 3M take a look this is literally a falling knife from here and then it's just been pretty rapidly going down from there and falling knife style and now we're approaching levels that haven't been touched in years here on 3M guys if we're looking on the three year one week we're actually getting to levels that the stock was at in the year of 2016 the level we are at right now is roughly at the support of about 163 to 164 dollars which again we were at this level in the october month of 2016 and if we're going over here to the 20 year one month chart this is not the 20 year one month chart this is the 20 year one month chart take a look if we end up holding this level right here which has been again a support from back in 2016 and also back in 2015 2014 it was an older resistance which became a new support when we broke above it if we hold these levels here guys right this could be a pretty good opportunity for a reversal on 3M but let's say we break 165-166 which could potentially happen guys because right now the market's attitude towards 3M there's a lot of selling pressure here it seems like it's just going down down down down so it might not abide by these technicals that we are seeing here so let's see if it did break that level to the downside where could we be going next from there you know if we're looking at this chart some other spots we might see are 160 dollars that could be the next spot right 160 dollars that was a resistance back in the beginning of november in 2015 again we broke out of it making it a support that could be the next level from there we may be going down to as far as 138 dollars to 140 dollars per share which was a support it was a support back in 2014 2015 roughly in the august to september month so at this point if we were to end up holding the 160 level and we saw a clear cut reversal on the 184 hour chart of us breaking out of the EMA and out of the 50 SMA uh resistances here you know that would be a pretty good reversal sign to the upside for 3M that could be a potential swing trade in my personal opinion if we were to see those technical breaks and from there you know the next resistance would be probably 178 upwards from there would be roughly at about 183 dollars and the list goes on right from there we might be going up to 196 but before we do talk about these 180 levels guys we need to break out of these levels first the 170s the 175s 180s and then we can start talking about these higher levels until we break and really just maintain the 160s you know this is still a falling knife down trending stock but i do think there's a lot of potential in it once and if it does end up reversing and for those of you guys that don't know 3M is a very long lasting company been here a while you know a lot of people invest in this one for dividends so this one could end up bouncing back here in a couple of weeks months i personally think it will eventually and i'm just waiting here patiently on when it does when we see that technical break that could end up being a nice move on 3M so another one i want to talk about today is Cron ticker symbol C-R-O-N mostly for this little action that i'm seeing here on a smaller time frame basis we're noticing a bit of a bullish reversal here on Cron we're noticing we're no longer trending below moving averages uh resistances here the 50 and the 180s amaze we've been making some higher highs higher lows reversal uptrend pattern here from the 1390 level the 14 dollar level now we're in the 15 dollar level and now we're trending above the 180 sma and the 50 sma i think this could be the start of a reversal to the upside on Cron especially if we see a bullish cross on the 20 day one hour chart and judging on the 184 hour chart again i understand that it's still descending right now it's still potentially at a lower high from the previous so ideally here i would like to see a firm break above 1575 which was an old support now a resistance if we break out of there this one could be forming some sort of a cup pattern where it might be testing the 180 sma after the potential break of 1570 to 1580 right so if we break into the 16 dollar level on Cron guys i think that would be a or that would be a very bullish upside move on Cron ticker symbol c r o n so another one i want to talk about is b r k uh here it is berkshire hathaway guys so berkshire hathaway is a stock that i pretty much have never talked about on this channel nor do i know a lot about the stock i'm not going to sugarcoat it i'm not going to lie to you guys i don't know much about this company i know a decent amount but i don't know enough to hop into it as a long-term investment let's just leave it at that but on a technical basis here we're seeing quite a big of a pullback or quite a bit rather should i say a pullback on b r b right or a b r k slash b rather and that pullback is of about 7 percent and we're noticing over the past couple of days actually if we're looking on the five day five minute really just the past two days or i guess you could say the past couple of days there's been strong support roughly at about 200 to 205 dollars on berkshire hathaway we see the bottom out here at 201 bottom out at about 202 and now we're seeing a bit of a bullish push above moving average resistances here on the five day five minute and we're also maintaining these levels as support levels heading into the market close so this is a pretty good sign on a smaller term basis that berkshire hathaway is potentially finding a bottom here right on the 20 day one hour chart we're noticing despite finding potentially a bottom we're noticing that the stock is still down trending below the 50 sma resistance so ideally here i would love to see this one climb up to the 205 the 206 levels and slowly start to break these levels that i'm about to draw out for you guys so 205 would be a level i would love to see it break and 206 if we break those levels will be way above the 50 sma and we'll be breaking out of resistance after resistance and ultimately i would love for it to break the 180 sma again and at that point you know that would be a full on reversal confirmation to the upside and we can capture that five six percent margin that would be left on berkshire hathaway guys but overall i am liking it we're seeing it's again not fully reversed yet on the smaller term charts but we are noticing if it does reverse here which i think at person i personally think it can that would be a higher or low from the previous the uptrend would be intact and that would just be honestly us riding the continuation of the uptrend here but we need to see quite a bit of uh confirmations here to the upside for berkshire to be at the place where i would personally trade it or swing trade it but i definitely think this one along with 3m provides some value there for stocks that have fallen drastically over the past couple of weeks obviously berkshire hasn't fallen as drastically as 3m but it's kind of in the same scenario where it's fallen and there's a lot of margin of profit there that we could potentially capitalize on if we see that reversal so another one i want to talk about today is you guys guys ticker symbol u g a z and you guys is a natural gas based etf it trades on slash ng and slash ng guys the natural gas futures whenever this future is going up in price you guys is going up in price as well so this is kind of easy to break down here let me take out my trend line and draw out what i'm seeing here i'm seeing here a pullback from natural gas from 270 down to about 260 to 261 where it's holding a higher low from the previous and where the uptrend is still intact what what this has done is it opened up roughly a 3% margin of profit on natural gas and since you guys which is the etf that i'm personally watching since you guys is a 3x leveraged etf that means it has about 9% margin of profit open because let's say natural gas drops 3% you guys is dropping around 9% right which is why from 2775 down to where we've pulled back today there's about a 9% margin of profit open so i'm really liking this one heading into tomorrow especially since again we're holding the uptrend we're seeing a lot of margin of profit opened but now what i would want to see guys to be honest is for us to really start trucking back up into the high 25s maybe even the $26 level before taking a position because what that's going to tell me is that we're confirming the uptrend or the continuation of the uptrend and that we're not being faked out here right the worst thing would be for us to get in prematurely right here and then all of a sudden it reverses to the downside right we want to make sure we want to confirm that it's pushing up and at that level we would need to see a 27 or 2575 level 2590 level on you guys maybe $26 and on natural gas we'd need to see a pretty much a break up into let's say the 263 level ultimately a break out of the 180s to make resistance here for the continuation and if that ends up happening you guys tomorrow would probably be the best play out of the ones that i talked about in this video and it's honestly the number one etf that i'm personally watching for tomorrow guys so that's pretty much it guys you know 3m i'm watching very closely right you know a bunch of these come these futures and these etf combos you know natural gas i'm watching crude oil as always you know the the performance of crude oil today wasn't that crazy down about 16 cents down about 0.25 percent right i'm watching you know berkshire hathaway you know chron of course tesla on a potential reversal here to the upside which i'm personally not seeing until we break out of these simple moving average resistances here on the 20 day one hour chart another one that i'm watching is jnug gold has been pretty much consolidating around the 1270 level here for the past couple of trading days the gdx is looking like it wants to potentially reverse here to the upside if we break $21 on gdx that would be a huge bullish move and that would indicate a huge bullish move in store for jnug and if we're looking at jnug which is the 3x leveraged etf we trade on this channel jnug has been holding 660 670 680 this this general level of support here for a couple of days all we need to see now is a break into the seven dollar level i think and from there that could be a huge breakout play on jnug there's a bunch of things that i'm personally watching here so i hope you guys enjoyed this video if you did feel free to leave a like down below subscribe to the channel if you're new smash that notification bell so you're notified every single time that i do make a video and feel free to comment let me know how you guys ended up doing today what are your thoughts on the market i would love to know follow me on instagram down below the strive smart discord strive smart facebook my personal instagram the strive smart instagram everything is linked down below so if you guys want to be further connected with me and the community that's where you can do it so thank you guys all i hope you all enjoyed the video again i'll catch you all in the next video peace out