 What is going on everybody is Stas here welcome back to another video So in this video, we're gonna be doing an overall market update looking at the Dow Jones the S&P 500 and the Nasdaq We're also gonna be talking about one trade that I made today on the 16th of January in 2019 and we're gonna go into my personal opinion on if it's a good time to buy You guys we saw a very big dip today in you guys and a very big dip in natural gas And we are expecting cold weather over the next one to two weeks There's a big snowstorm in the Midwest. It's getting very cold over here, New Jersey It's gonna be about 10 degrees next week. So with all this cold weather coming. Is it a good time to buy? You guys we're gonna talk about that in this video But before we do feel free to smash that like button if you guys do enjoy the daily content that I'm producing if you guys do Find it valuable. It really does help the channel if you do smash that like button and I really do appreciate it So let's get right into today's video guys starting off with the SPX so yet again guys We had a green day today, but it wasn't too crazy of a green day We see the SPX SP S&P 500 here it closed the day up around five dollars and 80 cents up around point two percent So on the close, you know, not too crazy of a day in terms of the SPX But still it is a green day for the index and if we see over here guys The Dow Jones was up around a hundred and forty one points a little bit better day than the S&P in terms of percentage It was up around point six percent on the day and the NASDAQ we can see the future right now is down around 12 points But if we want to see the performance of the NASDAQ of what it did today, we can see around 9 30 We opened up at around 6690 we popped up around 50 points all the way to around 6637 but we ended up closing the day pretty flat in terms of the NASDAQ literally up about 56 points on the day, you know very minuscule percentage gain on the NASDAQ probably up around point one percent on The day so nonetheless guys it was a green day and let's talk about some technicals here on the SPX on a couple of different time frames so we can get a better understanding of where the market is moving and it's very Important in my opinion guys to do your market analysis every single day whether it is at night You know pre-market hours will preferably you should be doing it every single day multiple times a day, right? Pre-market hours to see how the large caps are moving so you can plan out your trades for the day You know after market hours you can see what happened that entire day plan your trades for the next day And of course during the day right live action That's a very great time to be doing your market analysis to see how everything's moving So in terms of the SPX right now guys We are at that same resistance that we were talking about in yesterday's video at around 2620 dollars we actually got rejected there today. I do believe we actually touch 2625 actually a little bit above that resistance, but we ended up getting you know pushed down from here To the close of the market so we pushed up to a higher high in terms of this one day one minute when we did hit The 2625 level but pretty much from 230 to 4 o'clock the entire power hour Plus 30 minutes. We were down trending to the market close, but we are technically guys You know at that resistance that was a previous support back in here in the middle of December and obviously we had that big Red month in December. We broke that support making it a new resistance and from the day after Christmas guys the 26th That's when we found our low in terms of the SPX And we've been recovering ever since and it's brought us back up to this resistance point So we aren't we're at a very critical spot right here guys I've been talking about this over the past market update videos every single day and Dobby, you know if we do end up breaking this which I do see potentially Happening right the next spot of resistance is going to be at around 2635 with then the next spot being at the 180 simple moving average here on the 180 chart And for us to really get out of this downwards trending channel like we slowly have been you know breaking that 180 SMA is going to be a huge huge point guys Let's say we do end up breaking these two resistances, but we get rejected by the 180 SMA The downtrend in terms of lower highs is still intact at that point right guys Because if we did get rejected here, you know this would technically be a lower high from the previous high and that's just a Continuation of the downtrend that the S&P 500 has been on over the past couple of weeks really months at this point from the beginning of October so in terms of the 180 chart guys That's what I'm looking like or looking at rather and on the 20-day one-hour chart We bounced on the 50 SMA two trading days ago We pushed for that high or high and we're you know currently still up trending guys. It's very obvious here It's very evident from this chart that we are up trending in price So I do expect you know potentially You know if we do end up popping up above this resistance tomorrow to see a pullback a little bit for the SPX and Obviously if we break the 50 SMA that's going to be a good reversal pattern to the downside in terms of the 20-day one-hour chart and then obviously the 180 SMA if we broke that as well You know That's going to be a good sign as well But for those of you all that don't know how to use simple moving averages to your advantage Well, let me give you a quick little tip here So this is the 50 SMA right and this is the 180 SMA whenever the 50 SMA Crosses above the 180 SMA that is a bullish sign right the 50 simple moving average is Crossing above the 180 and we can see that happening here guys pretty much back here is when it happened And that's really just showing us that it's bullish right and you can do this on any time frame It really does work right guys when we see the cross, you know a lot of the time We're seeing that you know stock ETF index up trending in that point in time And you can also use it the opposite way to really identify a down trending pattern for an ETF a stock or an Index and by this way, you know instead of the 50 SMA crossing above the 180 SMA For an uptrend well a downtrend would really show the 50 SMA Breaking below the 180 SMA so pretend the 50 SMA was right here for example, right and we saw it You know crossed the 180 like that that really just shows that you know that ETF stock index has downwards Momentum and it could potentially start down trending, right? These are very useful techniques very simple, right? A lot of people out there know them but just to reiterate them in this video very good techniques to you know identify an uptrend Identify a downtrend and you can use these on many different time frames. So let's quickly look at the Dow Jones guys Let me quickly just clear this drawing set because it does get sloppy over time when I don't clear it But on the 20-day chart very similar to the SPX, right? It's on an uptrend it bounced at this point higher low, right higher low here as well It bounced on the 50 SMA push to a higher high So everything is looking good for the uptrend in terms of this 20-day one-hour chart And if we look at the 180 chart we can see another clear resistance Right where the Dow is right now guys and this is from the sell-off that we saw back in June, right? We saw a sell-off back in June 2018 from around 25,000 mid 25,000 all the way down to around 24,200 and that's exactly where we are right now in terms of the Dow Jones guys you see it right there You know we had another green day pushing us towards even closer towards that Resistance from back here and of course it is a resistance from back here as well back in November And we did have that sell-off all the way down to around 24,200 to 24,300 Dollars so you know that is what I'm looking at in terms of the Dow Jones guys very important to keep an eye on This resistance level if we do end up breaking above it, which is a decent chance of happening right now If we do continue this uptrending pattern the next resistance point is going to be at around 24,750 and then of course it's going to be right around the 180 SMA as well and if we do break that 180 SMA That's going to be a very good sign of a reversal pattern to the upside right and just to quickly look at some longer-term charts here guys I talked about this in a couple of videos ago But I haven't in this in the past um couple of videos Well, you know the major indices guys the Dow the S&P and the NASDAQ they all held Simple moving average support levels on their long long-term charts, and I'm talking about three year one week charts right 20 year You know one month charts they are they all held You know very critical support levels if we can see back here to the SPX very similar right and you know on the Closer chart as well very similar it held that 180 SMA and bounce nicely And you know if we took every fundamental off the table if stock trading was simply off charts Right if we had no fundamentals no economy nothing right nothing if this was just simply off charts Someone would say right here. Okay. This could be the reversal for the uptrending pattern, right? We had our significant pullback We bounced on the 180 SMA and we're seeing a bunch of green candle stick starting to form on the 20 year chart You know we saw the bounce we're pushing back up as well But you know with fundamentals in the game guys in the state of the economy that we are currently in with growth slowing down The trade war all the stuff that we've been talking about on this channel You know this doesn't really matter to me that we are bouncing on the longer-term charts guys We can really turn to the downside in the matter of a snap We saw it back in October and we saw it in December So don't let these charts confuse you guys although the longer-term charts are pointing to a reversal to the upside right now You know there's still a bunch of stuff out there. That's going on that could weigh in on the market And I'm really just patiently waiting I'm still waiting for that day where we wake up and the futures are down 2% like they were you know back in this time period where we pretty much woke up every single day with the futures down a Crap-ton right I'm waiting for the day guys the day is going to come trust me But we just have to wait and see when it does come so in terms of the Nasdaq very quickly guys I don't want this video to be too long on the 20-day one-hour chart We're holding that uptrend very nicely We push to a higher high and if we take a look on the 180 very quickly to see some You know key resistances that we are at right now. Well, we broke this one right here Which is a very good sign, right? This was a previous support at around 6,500 we shattered above that With the next one being right around I would say 6,765 right and that's a little bit You know we're about a hundred points away from that right now and if we do break that guys That is a good sign that the Nasdaqs actually reversing to the upside right and in terms of the three major Indices right now the Nasdaq is actually looking the best in my opinion in terms of a technical basis But again once trading stocks guys you look at the technicals and of course the fundamentals What's happening in real life not just looking, you know at the chart? So so that is what the markets are looking like as of today at the close on the 16th of January in 2019 so to get into my trade with you guys guys It was very very simple. I pretty much caught it on this huge pullback right here So I was waiting for a potential bounce back recovery play I ended up getting in I believe right around here at about fifty seven dollars and thirty what was it like fifty seven thirty five I believe or maybe it was fifty seven forty five. I think that was it fifty seven forty five I initially had my limit order at around sixty dollars because at this point guys I thought it was reversing in price because we saw the break above the EMA here and I set a limit right around sixty dollars. I believe It was around twelve thirty because I saw the potential of it holding the EMA as a support level rather than a Resistance point as it has been over the past couple of hours at this point in time And you know obviously we started to see some strong resistance right here, which led me to just lower my What's it called my limit sell order to fifty nine dollars? So I had it at sixty dollars that would have put me at a what is like a three percent profit, right? Let's take a look very quickly. I was in at around fifty seven forty five fifty seven forty that's close enough So if I went to sixty dollars, yeah, that would have been around a three point five or rather a four percent profit If I did but I ended up lowering my limit order sell to fifty nine dollars And I took around a two percent two point seven percent profit and again Why I did this is because although we did break the EMA line here We were having trouble breaking the fifty SMA. We saw it as a huge resistance We had trouble breaking it here guys when I had it at the sixty limit order We had trouble here again and as we started having trouble the third time That's when I lowered my limit order and I ended up taking my profits right as a cross below Fifty nine dollars and that's the beauty of limit orders guys you set the order and it fills unless you're using you know Robinhood I've heard some problems with Robinhood, but I use fidelity guys It feels like that right guys it feels very quickly took my profits And that was it for the day in terms of my trading with ticker symbol UGAZ so if we're looking at you guys on a longer-term chart here This is the 20-day one-hour chart you may ask yourself. Is this a good dip by? Opportunity the weather is getting colder. We do have a snowstorm in the Midwest I believe and we do expect around one to two weeks of Extremely cold weather so let's take a look at this article guys Let's see you know what we can expect for natural gas So this is an article that came out on Monday last updated yesterday on Tuesday at 8 59 a.m And we can see from the title here natural gas prices spike 13% and this was back on Monday So natural gas prices spike as the market gains confidence that the severe cold gripping the United States Will persist on longer than previously thought Henry hub natural gas futures for February Rise more than 13% to their highest since December a return to four dollars is Uncertain but will remain a risk as heating demand rises and natural gas stockpiles come under renewed Pressure so natural gas spiked on Monday guys like we do know and with this weather coming the cold weather This could push up the prices of natural gas to start to test Previous resistances and if we take a look guys, you know back on this chart here for Natural gas and for those of you guys that don't even know Natural gas is what you guys trades based upon right if when if natural gas is going up in price Well, you guys is going up in price as well And this is the gap up that they were talking about I believe was it this one No, this was not the gap up the gap up was I believe on this day the 14th We went all the way from around 348 all the way up to around 370 and now we pulled back all the way back to around 340 which actually was a previous support level as we can see back here guys in December of 2018 right we pulled back from 393 all the way down to around 332 which we did end up getting close to today I believe earlier on in the day and we held that support level here We held it again here at as well at around 330 on the 28th of December Before gapping down and obviously when we did gap down, you know that became a new Resistance point and then we gapped up here. This was back on the 11th of January We gapped up from 315 all the way to 330 that started to act as a new support level It's kind of like a cup-and-handle pattern right here guys. You see that it's literally like exactly a cup-and-handle pattern So we you know we held above the 330 here pushed all the way up to 370. We pulled back We're holding the 330 340 level again So on a technical basis guys, there is room from around 330 335 all the way back up to 360 in my opinion because we'll be literally, you know trading within this Horizontal channel that we do see drawn out here And if we extend that a little bit you'll be able to see it You know a little bit easier here on this on natural gas chart. So actually, no, that's not that good Right here guys you guys see what I'm saying if we do end up filling this gap to the upside tomorrow After the natural gas report remember 1030 eastern standard time AM is when that report does come out if the report does show to be in favor You guys right and we slowly start to see the push up in natural gas We slowly start to fill this gap. Obviously, that's going to be a good sign for you guys So is it a good time right now to buy you guys? I personally think that it is a pretty good time to consider buying you guys I don't give you guys advice on what to buy. This is strictly an entertainment purpose channel, right? I'm here giving you guys, you know my journey my experience my thoughts do not take this as Advice to go buy it unless you do your own research, right? It's all about you doing your own research and making the decision for yourself Don't buy based on my opinion, but I personally think guys Especially with this big dip that we had the open gap that we do see that we're holding above now Aftermarket hours with a potential of filling as well as the very cold weather that we are expecting, right? There is a very solid chance in my opinion that natural gas does end up closing this gap Meaning that you guys could be probably will be a pretty good buy tomorrow and again Do your own research guys, please do not buy on my personal opinion Please please please don't and wait for that report 10 30 a.m. Eastern Standard Time We're gonna see how natural gas is, you know Acting towards the report, right? Is it gonna be shooting up? Is it gonna be shooting down typically around 10 30 every single Thursday when that report does come out? Natural gas does move pretty quickly. So keep an eye on it tomorrow That's what I'm personally gonna be doing keeping an eye on it around when the report comes out I'm gonna analyze the report when it does come out then make my decision from there But as of right now guys, you know judging off the chart judging off this article, you know A lot of severe cold weather is coming the Midwest is Experiencing a snowstorm right now a lot of lot of cold weather we can see here The forecast has turned significantly colder It's really the magnitude of the cold and the confidence and severity longer term that changed over the weekend So pretty much guys that is my opinion on you guys. Is it a good time to buy? I personally think it is a decent time to consider buying right now guys because you know all the stuff that I did say is Pretty valid. Let me know what you guys think down below in the comment section If you guys do want to check this article out, I'll have it linked down below in the description box And you know, just let me know what you guys think is it a good time to buy in what do you expect for tomorrow, right? We got rejected by the 180 SMA But again, we do have a nice gap that we could potentially fill Tomorrow and that's what I'm going to be waiting for in terms of natural gas and you guys That's pretty much it for today's video I started out the day today pretty slow didn't see too many opportunities out there Then I started to see the big sell-off in natural gas And that is when I ended up taking that bounce back play on you guys But pretty much guys up until around 12 p.m. I thought today was going to be a day that I wasn't going to trade Which is not a bad thing, right? We always talk about, you know, you don't have to force trades every single day, right? You want to wait for the opportunity to come to you before taking advantage of that opportunity, right? I did not see any opportunities early on in the day. Therefore, I didn't trade But once I saw the sell-off in you guys I saw this as a potential opportunity if it did find support and slowly start to push up That is what I ended up doing guys I traded that very quickly for a 2.7% and I did very well today based on my standards and my Goals, so I hope you guys did enjoy this video If you did feel free to drop a like leave a comment and subscribe Follow me on Instagram as well as on Twitter and join our discord group chat as well as our Facebook group All of those are linked down below in the description box. I'll catch you guys in the next video Please do your own research when trading when investing. I hope you all enjoy the rest of your night. Peace out