 What is going on everybody is Stas here welcome back to another video So in this video, we're going to be doing an overall market update looking at the Dow Jones the S&P 500 and the Nasdaq We're going to be talking about two trades that I made today on the 20th of March in 2019 as well as taking a look at some key notes that I have here from the Federal Reserve meeting that we saw earlier today at 2 p.m. Eastern Standard Time is when that meeting occurred and we're also going to be talking about some other stocks and ETFs that I'm Personally watching here over the next couple of trading days to potentially trade But before we do get into the topics of today's video for everybody out there that finds value in these videos You enjoy the content here on YouTube and you find value in this video Feel free to go down below and hit that like button guys It really does support me and supports the channel in general and if you're new to the channel and you want to be a part of our community after you watch the video and after you see You know what I personally talk about with the stock market feel free to go down below There are two links the discord group chat and the Facebook group both of those are 100% free to use and there's great great resources in there many many investors and traders that can help you and that you Can really communicate with collaborate with bounce ideas off of and it's just a great community And what it's become has been absolutely amazing. So get down below get in those two groups guys You will not regret it. So without further ado, let's talk about what ended up happening today With the overall market and it was another roller coaster ride Just like it has been over these past couple of days. So today the SPX ended up closing the day down Red down about eight points and thirty seven or rather eight dollars and thirty four cents down about point two nine Percent at the close the Dow Jones industrial average had got hit a little bit harder here down about point five five percent at the close down about a hundred and forty one dollars and seventy one cents and the NASDAQ composite guys It's currently down about four points down about point oh five percent But this is the future that we're watching here So let's see where it ended up closing it ended up closing at around fourteen eleven So about you know seven points higher So this one probably ended up closing up about three points on the day very minimal move there You know in terms of the NASDAQ Composite so like I said and like you all probably know by now The Federal Reserve had a meeting today at 2 p.m. Eastern Standard Time and typically whenever the Federal Reserve Has a meeting whenever Jerome Powell is speaking the markets tend to fluctuate very heavily, right? We can see at 2 p.m. Literally at 2 p.m. Eastern Standard Time here the SPX the S&P 500 went up from twenty eight twenty All the way up to twenty eight forty three so off the top of my head I think that's a one one percent move roughly. Yeah, it really went one percent up to the upside in the matter of 30 minutes once that meeting Started to kick off and then we can see the dump of the SPX from about twenty eight forty three at this point We were up a decent amount in the green for the day and we ended up closing the day like we saw red Down about eight dollars and thirty four cents. So let's just break down the SPX here Let's go over some technicals that I'm personally watching and that we've been watching here over the past couple of Trading days so we all know by now guys that we broke out of the resistance on the SPX from about twenty eight twenty Or yeah twenty eight twenty roughly and we've been holding it on top of that level here for a couple of days Right, we broke on the 15th of March and we held on the 16th or rather the 18th of March the 19th And today we're technically still holding that support level here on the SPX at about twenty eight twenty And a very critical thing here guys It's kind of playing out to what I said it was going to play out as right not not that I can predict the future guys We all know that no one can predict what the market is going to do all we can do is make educated You know decisions here right and I said over the past couple of videos that You know once we did break above here I could see or rather once we did break above here, which we did I could see a couple of days of consolidation for us to test that support level and that's exactly What's been going down here in terms of the SPX we can see you know We kind of consolidated this day We popped up went back to the support on this day right and we can see this better on the five-day five minute Remember yesterday. I was talking about this level right here at about twenty eight twenty three This being a level of support the fact that we tested it here on the 18th We popped up retested it at the close of the market yesterday And now if we extend this over here we can see we literally closed at the same support level So my theory here over the past couple of days that we were going to consolidate around this level is really playing out right now Which is really really cool. So from now where are we gonna go right? Where are we gonna go? That's the whole entire thing that we want to know now Well from now there's a couple of different things that can happen right the fact that we did Pulled back a bit brought that our side down a bit as well And notice how if you all know if you watch the Fed meeting if you read the news if you read some articles You realize that the Fed did not increase interest rates, which is something that we expected right? I personally expected that a bunch of other people expected that because the Federal Reserve chair Jerome Powell He said that he wasn't going to raise interest rates aggressively in 2019 like like what happened in 2018 so this leads me to believe there could be some further green in the market So the fact that we did pull back here brought the our side down We got some good news about the Federal Reserve and they're really not looking to hike up any interest rates in 2019 at all And we're gonna be getting that here in a couple of minutes, which is even further good news Right so the fact that we pulled back here Honestly, this could be a bounce zone now for the SPX since we did consolidate over the past couple of days So one scenario is we could end up pushing back up from here Right, we can end up pushing bouncing off the support and then continuing to run up Maybe test that 2850 resistance from a couple of days ago and then test that next high Which is at about 2870 that we've been talking about or be another thing that could potentially happen here is We can further sell off the fact that we closed red today means, you know Really, it doesn't mean that we could potentially sell off more But since we are pulling back a bit here, you know, we could end up selling off a bit more even though We did get good news just because you know the trend that we're seeing here every time we pushed up to a higher High we sold off at least one two three percent. So this little pullback here It's not really I think it's about, you know one percent maybe one percent, right? So the fact that the previous pullback was three percent the one before that I believe was closer to two percent You know, maybe we could pull back another percent percent and a half to bring that our side down a bit And for us to test this level right around here at about 2775 Which would put us on this 50s and a support. I think that is also, you know, something very very That's something that can very likely happen here, right? There's a couple of different things So that's what I'm looking at in terms of the SPX, you know, the optimism right now is pretty pretty high Especially with what ended up happening, you know with the Fed share But again, you know, we could end up selling off more who really knows right? We just have to see what the futures are going to be doing in the morning the large caps How are they going to react? You know in the morning is this is this selling that we saw towards the end of the market Is it going to continue if we do end up breaking that support that I showed you guys on the SPX from the previous Three days, you know tomorrow, let's say we open up and do something like this, you know that that in my eyes That's going to indicate more selling to come. So the Dow Jones here, you know We saw a little sell-off a further sell-off than the SPX like we talked about and we finally we actually broke The support at about 25800 dollars, which was a resistance a couple of months ago And since we broke out of that a couple of days ago That made it a new support again and the fact that we broke that support now We're treating it as a new resistance to 25800 level with the next support at about 25400 dollars So just like the SPX guys a bunch of different things can happen here Let's say, you know, we end up selling off in the pre-market hours of the Dow Jones We notice some of the Dow 30 companies. They're down tomorrow morning You know, we could be doing something like this Right, we can just be selling off to the next support level, which at this point Is not is not too crazy to think about right? This is not something that is too out of reach We also could end up popping up here breaking that resistance treating it as a new support level again And slowly start to push up on this optimism that was pumped into the markets today, you know from the federal reserve Meeting so it's really not rocket science, you know, this type of market we're in right now You know, it's either going to pull back very aggressively here Or we're just going to push up and and you know end up going into the green with this news that we ended up getting So honestly guys the Dow Jones, it's not looking crazy in terms of an uptrend here But it's also not looking crazy in terms of a downtrend. It's kind of in, you know This middle ground here where you honestly can go either way So that's what I'm looking at in terms of the NASDAQ or the Dow Jones rather and now the NASDAQ This one's trading in between these two levels that we've been covering over the past couple of videos The first level being the 73 75 ish the 73 50 ish level, which was an older resistance We broke above that making it a new support and the next resistance, which is at about 7400 dollars And if I go in here on the five day five minute, we can see we tested this level a couple of days ago Really, it was yesterday and we were trading between the support and their resistance Very nice on the horizontal pattern and that led all the way to aftermarket hours Yesterday into this morning. We held this level as a new support And now we spiked up once the federal reserve meeting kicked off We ended up breaking through that level of resistance and now we're pulling back Hovering at that level of resistance again at about 47 or rather 7400 and 10 dollars So for tomorrow, I would really wait to see are we going to continue this momentum To the upside here once we confirm a bounce on this 50 SMA Are we going to push out of this level of resistance at that point guys? If we do end up doing that, I think the NASDAQ could end up ultimately testing the next level Which at this point is going to be roughly at about 7500 dollars And it's scary to think that we're getting so close here to all-time highs in terms of all of these indices It's getting really scary to think that in just 2019 alone guys the market's up 20 percent So that's another little uh interesting topic here, right? The market's up 20 percent right now Are we due for a bigger retracement here? Right, we've been seeing the pullbacks of about 1 to 3 percent sure We've been doing our analysis on the spx for a couple of days here But you got to ask yourself sometimes right the market's up 20 percent at this pace You know the market's going to keep going up and up and up in our eyes, right? Which is why I think we need to see an even bigger pullback here in the next couple of weeks Maybe the next month or two to bring down that 20 percent near 20 percent gain in 2019 Back down to a reasonable level because these levels guys they're going to become unsustainable But let's say we do end up breaking the all-time highs. Who knows guys, you know, that can happen as well We just have to play it by ears. So right now You know the nasdaq it's going to go either two ways right very simple Just like the dow if we break this resistance level tomorrow I think the uptrend is going to continue. We're going to be headed to 7500 dollars Let's say we don't break this up trend. We end up selling off a bit Let's say we have a red date tomorrow This is going to be breaking or rather testing the support at about 73 60 73 70 And if we break that the next target is going to be, you know The 7300 ish level with the support on the 50 simple moving average here on the 184 hour chart So that is what i'm looking at very simple in terms of the overall markets I'm very excited to see what ends up happening here guys Of course, don't forget about the trade deal the trade war with trump and china There's going to be some solutions to that here in the next couple of weeks next couple of months At least that's what trump is saying. So if we get a trade deal done That's going to be huge for the uh, you know the market as well We couldn't be pushing up to all-time highs if we do end up getting a trade deal done There's just a bunch of different things Going on here. So let's talk about what I ended up trading really quickly here Then we'll talk about the notes on the federal reserve meeting Then we'll talk about a couple of stacks very quickly and then i'll get you guys out of here And uh, you can keep doing what you're doing. So first stack I ended up trading today Which I did end up calling out this morning and my morning video was u w t so u w t Pumped into the 18 dollar range today had about a 5 day and for those of you guys that don't know It trades based upon slash cl the crude oil futures and this morning I was talking about this move here on crude oil and whenever crude oil goes up in price, you know, see uh, what's it called? Uwt goes up in price as well. So in this morning's video I was talking about how this sell-off this pullback in crude oil opened up the opportunity in u w t Which I was waiting for right then we saw the consolidation at about 58 50 to 58 60 from about 6 30 a.m This morning up to about 9 a.m. About 2 hours eastern standard time of consolidation them in the video this morning I talked about how I wanted to see a break out of this level here at about 58 86 this resistance from about 7 30 a.m eastern standard time For this running pattern right and that's exactly what ended up happening This ended up playing out perfectly. So pretty much guys I got in this morning as we really formed this little cup Pattern and as we continued to ride the 50 sma and we continued to make higher highs higher lows And we continued to push up in crude oil and if we go to uwt we can see You know, that's what happened all day for uwt as well. We made higher highs We rode the 50 sma. We kept pushing up. So very simple guys I got in at around 17 dollars and 20 cents this morning ended up riding it up for about 1.5 percent This was actually a very quick Mover here we can see really this spike up here Kind of got kind of scared me a little bit guys because at this point, you know, we spiked up very quickly We started to sell off aggressively. So I ended up just taking my profits I believe right around here and we can see from about 17 20 Let me show you guys very quickly from about 17 20 I wrote it up to here. I was up about 3% at one point and then we started to sell off aggressively And I actually took about I think it was more of a 2% profit because I didn't remember selling at about 17 60 after that dump I just wanted to take my profits to potentially re-enter But I actually did not end up re-entering into uwt But I actually ended up getting into invidia today as well Which is one of the two stocks that I talked about in yesterday's video So i'm swing trading at v Activision blizzard and the other one I talked about in yesterday's video was invidia and I actually got into invidia today As the stock was actually getting pummeled during really before the fed meeting Right, we got pumped to 180 nearly and then we sold off all the way down to 173 And we confirmed the bounce at the support the new support at about 172 to 173 Which is what I wanted to see before getting in and is what is and it's honestly what I highlighted in yesterday's video Right, so I ended up getting in Roughly, I believe it was at about 174 173 40. I think it was like 174 ish on invidia here And this swing trade guys is a swing trade and I plan on swing trading it to at least 185 which is the next target that I do have here and I do plan on adding more money as we continue to confirm The uptrend so as it continues to confirm the uptrend Let's say tomorrow we start to get up into the 170s mid 170s 176 ish That is where I want to add a little bit more money and again The target to sell is at about 185 and I always have about a 2% profit or stop loss rather You know on these swing trades and as the money goes up as I'm in the profit I typically set trailing stop losses to protect the gain So that is what I'm doing in terms of invidia guys Nothing too crazy just added an initial position here plan on adding more as the stock continues to go up And in terms of activision blizzard i'm up a little bit on that position We saw a little pullback today in activision and honestly guys I'm still holding and I plan on adding more as it continues to push up And I do have a 2 stop loss on at the right now So those are the two trades that I made today And let me just quickly go over some of the fed notes that I took so first off guys We all know at this point no more rate hikes in 2019. That is what we ended up hearing the fed expressed Rising concern and economic slowdown from last year leaving the interest rates unchanged No interest rate changes today Which for all you guys that don't know whenever interest rates are going up That makes people less willing to borrow which doesn't stimulate the economy, right? Which is why when interest rates are low or even at zero People are more willing to borrow and that stimulates the economy stimulates growth And thus the stock market does very well, which is why we saw the crazy run You know really from 2009 10 all the way up to really 2015 2016, right? And then once the federal reserve starts to raise the interest rates It kind of spooks not really spooks investors until the rates get too high But it starts to make borrowing a little bit less attractive, right? Which really slows down the economy in a quick little synopsis, right? That's what ends up happening. So the Fed expects economic growth of 2.1 percent for 2019 Actually lowering their forecast from December, which was about 2.3 percent growth for 2019 So that's another little worrisome factor there the growth for 2019 got dropped about 0.2 percent there So no signal to raise rates in the near future for the Fed another thing We obviously already talked about that Powell isn't necessarily against cutting the rate either And if he cut the rate guys, I mean that would be very good for the overall stock market in my opinion Right if we cut the rate again, more people are willing to borrow, you know very basic there And you know that could stimulate the stock market as well And another thing here is that many of the federal reserve, you know the chairman the the officials They expect lower than expected economic growth for 2019 and 2020 which obviously at this point We already know that guys. We already know that a lot of people are expecting, you know, slower growth This is something that we already know, right? So that's just a quick little synopsis There are some key notes that I got from the federal, you know The federal reserve meeting that took place today And let's just talk about very quickly guys because I know the video is probably already too long right now But let's talk about what I'm looking to trade here over the next couple of days. So acb and cgc acb being a raw cannabis And uh cgc canopy growth company. These are two marijuana stocks. I'm very interested in trading here So today we got a pullback in acb that I was waiting to see But I did not end up pulling the trigger here because I honestly want to see a further pullback to around 9 20 9 30 even 9 10 and if we got the $9 flat guys, that would be absolutely ideal But I know that's being a little bit too You know that's being a little bit too optimistic to think it's going to go down that far guys because we see these stocks They run and sometimes on the little pullbacks here. They run up even further So if this one runs or rather if it if it runs and pops up tomorrow I pretty much miss my opportunity there, but I think or rather i'm hoping for You know a little bit more of a pullback here So I can get an even better entry point an even better deal and might bite me in the butt guys But it could end up working out tomorrow We just have to wait and see what ends up happening here in aurora cannabis. So cgc guys I was talking about this one yesterday. It's in this wedge pattern and today We actually got a pop to the the break of the resistance of the wedge today very briefly, right? This was a very very very big move here from about 45 90 up to about 48 60 and just to illustrate the move here to you guys 5% nearly 6% in the matter of how quick was this about 30 minutes at more like an hour in terms of cgc But what this tells me guys is that we broke that resistance We pulled back now and I want to see tomorrow Are we going to retest that high at about 48 dollars? Which is actually a resistance from a couple of weeks ago, right in the beginning of march We were at 48 dollars So the fact that we broke this wedge is a good sign that we could see more bullish push here And we got rejected by that resistance Which means we could end up filling back up to that resistance since we saw the pullback So tomorrow I'm very interested in playing cgc on this potential pump up of around 5 to 6% Excuse me, you know potential margin, you know on this trade so Another one i'm watching tomorrow, of course, it's going to be cl and uwt guys These are two that I've been trading every day It seems like at this point and they've been doing very well for me, right? So I think tomorrow if oil does end up seeing another big green day if we do push up to 61 I think at this point in time I'm going to be waiting for another one of these retracements another one of these pullbacks Where I'll be able to get into dwt, which is actually the inverse to uwt And this is again the beauty of these inverse ETFs. I played uwt today. Let's say we pump up to 61 dollars tomorrow Maybe I can get some action on uwt although at that point it might be overbought It might be a little bit more tricky of a spot to get in but let's say I successfully do that And I see resistance here and a slight sign of a dump the rsi is pointing down the mac d is pointing to a cell Right, I could end up playing dwt on the downside here. That would be the perfect scenario there That would be you know the ideal situation You know with crude oil here and the uwt dwt combination so That's what i'm looking at in terms of those two combos there Fb today guys facebook did very well today up about 2.4 percent and now it's safe to say the support at 160 is confirmed We're trending in the mid 160s now So i'm going to be looking to potentially trade facebook back up to 170 which is a resistance where we topped off On about four separate occasions here over the past two months So facebook very interesting in my opinion going to be watching that very closely and another one is tesla guys So tesla it showed a support and it showed strong support on the support channel here the support level of this Little wedge pattern that i'm showing you guys and the fact that we're curling back up here Gives me reason to believe that we could potentially test 280 tomorrow, which is a resistance from a couple of months ago And if we break 280 we could be going back up to the 180 simple moving average Which at that point would be around 285 to $290 and let me quickly plug in my laptop Because the last thing i want to happen guys is for this to die in the middle of recording that would suck but tesla tesla's looking really good now for a little reversal to the upside I'm going to be waiting to see what that one ends up doing So i'm going to end off the video here guys a couple of my main picks for tomorrow are tesla the two marijuana stocks acb and cgc and of course Uwt dwt those have been money makers for me over the past couple of days I'm going to be sticking to those as well and facebook of course up to the next 170 uh resistance I think there's a lot of potential there So i hope you guys enjoyed these this video if you did feel free to drop a like leave a comment subscribe Follow me on instagram as well as on twitter join our free communities down below the discord and the facebook You can also subscribe to the channel. I don't know if i already said that I say a bunch of different things guys if i already said that forgive me But drop a like while you're at it subscribe comment all that different stuff I appreciate you guys for watching it means a lot. We hit 2000 a couple of weeks ago Let's see if we can crack 3000 subscribers here on the channel soon enough with all your support I'm sure we'll be able to get there soon enough. So I appreciate you guys again. Thanks for watching I'll catch you all in the next video. Peace out You