 What is going on everybody it's Stas here welcome back to another video so in this 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 in the markets as well some stocks need TFs and I'm watching and looking to trade right now in the middle of October in 2019 and as you guys read in the title I'm also going to be giving you all my opinions right now on natural gas as well as you guys and D gas which are 2 Etn's that trade based upon natural gas and that I personally trade and talk about a lot on this channel So if you find value in this video, I'm sure you will feel free to go down below hit that like button I would greatly appreciate that and consider subscribing if you do want to see further content about the stock market both Investing in trading and don't forget to join our StriveSmart discord group chat and our Facebook group 100% free of charge those are linked down below in the description box. So guys, let's get into it Let's not waste any time in this video starting off with the SPX the 500 largest publicly traded US companies We ended up closing the day down today $5.83 down about point two percent overall today was a pretty day in the Overall markets the S&P here you guys can see on the four-hour chart We ended up closing below the resistance of this wedge and we closed below 2995 which was a very strong level of resistance that I was watching on the SPX That's telling me that there could be some further downside here, right? We may be going down a test 2950 That's a strong level of support that I'm seeing on this chart Right if we do do that and maybe if we break that we may be going down to test the support of this wedge Which is a very big possibility now, right? The markets have flown up a lot over the past couple of days And it seems like at this point on the five-day five minute We've been cooling off these past two days Overall, we're still technically holding this uptrend since we are holding the moving averages You know as supports here on the five-day five minute, but you have to figure out and ask yourself You know, do you think the markets are going to sell off here since they've ran up so much in the matter of a couple of days? You know if they do That could be a cooling period that we need in terms of a healthy pullback Always healthy pullbacks are great and in that case We may be going down to that 2950 level that I mentioned a couple of seconds ago, right? So those are just some levels. I'm watching on the SPX right SPY I know a lot of you guys track spy, which is an EETF that trades or rather that tracks the S&P 500 Very clear resistance on spy right now at around 299 250 right support at around 297 So this is the range we're trading in pretty much if we test 297 we break it We may be going down at 295, which is another strong level of support, right? So watch those couple of levels on spy if we go to the Dow Jones industrial average right now We closed below the moving average or not below the moving average before below rather this resistance here of the wedge This is also in a wedge just like the S&P 500 So we closed at a lower high, but at the same time we're making those higher lows Which again is putting us in this wedge. So this is interesting, right? This is telling me that there could be some further downside here on the Dow Jones If we start to sell off tomorrow if the futures are looking red heading into the session, you know We may be dumping down at 26,600 Which is the next huge level of support that I am seeing here on the Dow I guess you can argue another level is at around 26800 which could be one that we test in the meantime before going to 266 But either way it's still worth looking at both of these levels as both are Possibilities for the Dow Jones to go to right if we go to the 20 day one hour You can see on a smaller scale here How strong the level of 27k is of a resistance for the Dow Jones, right? We didn't break above that if we did we'd be filling up to the all-time highs We're struggling to get above that point now So this is worth watching and sorry guys my chart is a bit mumbo-jumbo right now There's a bunch of lines. I'll clear it up and fix it for tomorrow's video But anyway to make it easier for you guys to understand But anyway if we zoom into the one day one minute, you can see not much movement at all today, right? It was boring on the Dow Boring on the SPX right pretty much just consolidating flat for the entire day And if we go to the end queue here, you can see down about 20 points right now down about point two five percent And on the one day one minute you can see really just consolidation, right? We sold off in the middle of the day here We had a mini rally heading into the end of the day But overall we ended up closing slightly red and really just flat You know on the entire day and if we zoom out a bit to the four hour chart You can see unlike the S&P in the Dow the NASDAQ has actually broken out of this wedge Which in my opinion is bullish, right? And now we're looking to test 79.50 Which is another resistance which in my opinion if we break that guys will be headed to those all-time highs here on the futures at around 8,050 right that's going to be a straight shot in my opinion and honestly if these markets turn green over these next couple of days This is looking to tune up for a pop This is looking like a flag right now So watch that this could be you know tuning up right now in terms of the end queue But of course if we start to get the dump a bit, you know We may be going back down to 7840 Which is a strong level of support that I'm seeing here on the end queue and ultimately that would put us back in This wedge and from there a lot of things can happen and we'll talk about that in another video If that does end up happening and you can see here on the hourly chart Even better the breakout that we're seeing on the NASDAQ right now We're no longer treating the moving averages as resistance levels. We're now using them as support levels, right? We're breaking out. We're making higher highs higher lows This is looking very good for the bull out there that wants to see the NASDAQ continue to rally So overall guys, that's what the overall market is looking like right now One thing to keep an eye on and understand is we're in earnings season a lot of companies are reporting earnings So check out and watch out for guidance See if these companies are missing in terms of EPS and revenue understand if their earnings are strong or weak This is a gauge to see how the economy in general is Doing right and that is very very important and we'll talk about one company Very quickly that is reporting earnings and you can see this is why guys these stocks go crazy And it fluctuates the markets take a look at Netflix right now This one's running up into the $300 range it closed at 286 literally eight minutes ago So they're reporting earnings right now They're flying up and again a lot of other companies are going to be reporting earnings And that's going to have a weight on the overall markets in the next couple of weeks Really you just got to watch out for it guys. It's very very important, right? So let's talk about what I did today in terms of my trading and honestly guys I didn't do anything today in terms of my trading today was one of those days that I didn't end up trading I actually wanted to wait until tomorrow For the natural gas report to come out which comes out at 10 30 a.m. Eastern Standard Time on Thursday so since I didn't really see any opportunities today in terms of the market I was just kicking back looking at charts trying to plan out some trades for tomorrow to see What is setting up right and one thing that I'm looking at right now as you read in the title is? Natural gas and you guys and D gas so let's break that down very quickly Right now and you can see and the title I said natural gas is getting back into bearish territory and that is because it failed to hold this 230 level of support guys So if you watch my previous couple of videos We've been talking about the overall trend on Natural gas and if we zoom in a bit here you guys can see we peaked at 270 in the middle of September And we had a big bearish run all the way till the middle I guess you can say about a couple of days ago on the 11th of October so almost a month bear run Well bear Down run here in terms of natural gas and at that you know during those moments in time The moving averages were acting as resistances right so we got below 230 I said if we break 230 guys, we're probably going to go to 220 that ended up happening right and I said if we break 220 The next level is going to be around 211 and at this point guys natural gas was already extremely oversold right So we held 220 and then rallied back up to the 50 SMA here And at this point in time I was looking to see are we going to break out? Are we going to break out and maybe back into 230 which would be very good for you guys? Or where are we going to get rejected and pushed down and maybe even test 220 again? And maybe even break below it which would obviously be great for D gas now looking back that it actually played out We broke out guys we broke out and this was giving me some bullish Signs for you guys because again guys you guys goes up whenever natural gas is going up at a 3x rate So the fact that we were breaking the 50 SMA, which has been a resistance and we broke above of resistance at 230 To try and make our way to 240 You know these were some really convicting Convincing signs for me to get into you guys right for me to potentially look and be like okay You guys is looking to be running but now since we fail to break 240 right you can see today we fail to break 240 We failed to break the 180 SMA now. We're starting to see some pressure again to the downside We failed to break the resistance at 237 as well if we're looking at these micro Resistance levels within this channel, which is very bad right we're starting to break below 230 again And now we're starting to break below this 50 SMA support to potentially be rejected by it again And have it be a resistance which is a very very bearish sign So that's kind of why I said in the title natural gas is getting back into bearish territory Because it's falling down here and the overall thesis guys that I've been talking about over the past week or two at this point Is that supply is high right now? There's a lot of injections Production is is you know really doing well right now for natural gas, right? That's pumping or rather decreasing the prices But I think here and I've been actually doing some research and we've gotten news that there's going to be cold weather Sooner than expected. I think here in about a week or two that we're starting to see We're going to start to see the climb back here in natural gas as demand starts to kick up Once it starts getting cold throughout the Midwest the Northeast and across the country here in the United States Right, I think natural gas is going to eventually start to climb back up But the question is when is it going to a couple of levels that obviously since you probably Kind of pulled this out from the video already But a couple of levels that I'm watching are going to be 230 and 240 right? I think let's say we get a report tomorrow You know we get more injections whatever it may be we start to push down more I think that could be a decent sign for a you guys long That's looking to get in long at that point in and hopes that you know in Anticipation that natural gas and the demand is going to start to come in again, which would push the price up, right? That might be a good sign But let's say you know we start to get a push up here in the next week or two we start to break 230 237 and we start to get back into the 240 level that could also be a good sign for the you guys goers as well Especially if they want to see uptrend confirmation before they do enter their position So it's all about playing it by ear right now in my opinion right keeping up with the the reports Understanding what's going on with natural gas in general and that's going to help you in terms of Determining hey, maybe I should trade you guys or maybe I should trade D gas and of course the critical levels here that we talked about are very important as well along with those Fundamentals like the demand the supply, you know the cold weather all that stuff. So let me know down below What do you guys think about? natural gas and you guys and D gas right now in the short term and Really it's going to tell us what the reports going to tell us honestly in the short term What's going to happen in the initial price reaction of what natural gas does? But I think in the short term guys D gas might have some further upside Maybe if we start to go back down here, but ultimately I think we'll end up flying back up here in the next couple of weeks It just depends really the question is when is that going to happen, right? So let me know down below in the comments. What are your thoughts on natural gas? What are your thoughts on D gas and what are your thoughts on you guys? So let's talk about some stocks very quickly that I'm watching right now. The first one is PG proctor and gamble guys. So this is one that I actually played After their earnings, I believe it was last quarter or the quarter before that and I made a pretty good amount of money And this is a similar situation. This is kind of like deja vu for me, right? This is a similar situation as to what happened in their previous earnings period before their earnings, right? The stock was selling off at that point and you guys can see here, right? I feel like it sells off before every earnings, right? You can see this might have been after the earnings that it sold off. Let me see Yeah, it went from 106 I guess you can say down to about 102 then they reported earnings and then it started to come back up, right? So this dipped I think Before earnings might have been the day before the next earnings period a dip before earnings Then I start to fly up after earnings. So this is a similar situation where we're seeing some profit margin opened up On PG right now of about 7 8% 6 to 8% rather and we're heading into an earnings period that could potentially be very good here We've seen their earnings in the past. I believe their past two quarters were both really good So if they report a good earnings period here company guidance is looking good This is a stock that could recover very quickly because again We've seen it recover in the past very nicely after earnings reports that were good But let's say the the stock reports abysmal earnings if that does end up happening That could be a completely different story and especially if we break below 115 116 which is a prominent level of support that we're holding right now You know, that's not going to be very good in my book But if we start to climb back up and especially into the 120s to retest moving averages at this point There are resistances if we break those resistances, you know, this could be a very very good sign that you know This is this is reversing PG's reversing to the upside, which is what we want to see, right? Johnson and Johnson is another one that I'm watching right now and honestly I want to see it break into the 135 level We're actually already in the 135 level right now actually, but I want to see it hold this level and potentially make its move back up to 140 if we see here You know, we're about we have about a 3% margin of profit from 135 up to 140 But let's be honest these technicals right now. They're telling us we're over but we're seeing a bit of a resistance right around here a pretty clear Red candle on the one day one minute. You can see we dumped a bit Towards the end of the day here So this could be a sign that we may be heading back down to 133 which is fine in my book because we had a pretty good earnings from J&J, right? They beat I believe it was I don't know if it was on both EPS and revenue But I know they beat on at least one of those So that's positive, right? So if we pulled down to 133 this could be an even better entry to get in and from 133 up to 140 that gives you even more profit margin potential of around four to five percent So I'm watching that Johnson and Johnson. That's looking pretty attractive right now in my eyes Another one is Tesla guys TSLA. We're fiddling with 260 not much movement at all right now Mind you this one is overbought as well. So this could go two different ways, right? One way we get rejected. We sell back off to 245 We retest that 50 SMA as a support and then we go from there right also mind you There's earnings coming up that could also fluctuate this heavily to the upside or heavily to the downside Another thing that could happen is we break out from 260 that could trigger a lot of buyers coming in because that's a very very critical Resistance break and we couldn't be running up to the 270s from that point in the snap of a finger We've seen it happen before right and one of the next resistances that I'm seeing is 275 on Tesla so keep an eye on that that could definitely happen Roku is another one Rok you guys that I'm looking at we broke above 129 ish 130 as a Resistance we we broke above the 180 SMA the EMA We're trending above all the moving averages right now and one thing that I'm noticing is we actually Held this level for a couple of days last time We were at it and then we ran all the way up to that all-time high at 176 So I'm interested in seeing are we going to see another That similar pattern right now on Roku are we going to see that this is kind of looking like a Cup and handle in a way, but of reverse cup and handle if that makes any sense Am I or am I just seeing this the wrong way? I don't know either way 130 I think we'll be able to maybe run up into the 140s even higher if we start to break up Right now into the 135s 136 is and higher right so that's kind of what I'm looking for in Roku I think it's very bullish no doubt about it. There's a lot of hype behind it So this has a lot of potential to run from here So overall guys that is what I'm watching for right now you guys D gas the whole natural gas analysis stocks Roku you got all the ones that I talked about Johnson and Johnson PG some other ones again Netflix is running Ridiculously right now. Holy crap guys take a look at this very quickly. Oh my goodness from 286 up to 318 Let's just look for fun and see What did they do in earnings right now because I obviously didn't look at it, but obviously they beat okay q3 beat all right? EPS 147 beats the 104 estimate holy crap guys. That's an upside beat of around 40% that's insanity, but sales were right in line 5.2 4 5 billion versus 5.2 5 that was right in line with Estimates, but EPS Wow that was like a 40 percent beat there, which is insanity guys so that's obviously why Netflix is running right now and Yeah, that's it for this video honestly guys if you enjoy the video again The best way you can thank me repay me is to go down below and to hit that like button If you want to subscribe to the channel that could also be a way to repay me If you want to see further content for me about the stock market investing trading personal finance You can be a daily viewer if you want to if you don't want to that's okay, too So if you want to join the discord group chat that's linked down below the Facebook group is also linked down below and guess What else is linked down below my Instagram guys so get on all those platforms? I really appreciate all of you guys watching again. You are awesome, especially if you stuck till the end good luck tomorrow You know these markets. They're getting crazy guys. They're going to get crazy in my opinion and Just buckle up for the ride. It's going to be fun always keep some cash on the side So if stocks do get low you have some money to go on the offense and buy in that's what I'm doing That's what the greats do so you should be doing that as well, right? So I'll catch you all in the next video Thanks again for watching peace out