 What is going on everybody? It's Stas here. Welcome back to another video. So in today's video, we're going to be doing an overall market update, taking a look at the Dow Jones, the S&P 500, and the Nasdaq. We're also going to be doing a trading update talking about what I did today on the 16th of July in 2019 in terms of my trades, as well as going over a couple of stocks and ETFs that I've written right here on this little piece of paper that I'm personally watching and looking to trade here in the month of July. So if you find value in this video, if you find it helpful, feel free to go down below and hit that like button. Subscribe to the channel if you haven't done so already and feel free to join our StriveSmart Discord group chat and our StriveSmart Facebook group. If you want to be further connected with the StriveSmart community and me personally, all of those are linked down below in the description box. So with that further ado, guys, let's get right into it here, starting off with the S&P 500, the SPX, the 500 largest publicly traded U.S. company. So we can see we closed at $3,004 today. It was actually a red day. We were down $10.26 at the close, down 0.34%. The Dow Jones industrial average also had a red day, not as bad of a red day as the S&P, but it was down $23.53 down 0.09% at the close. And the NASDAQ, although it does say it's down only $1.25 right now, that is the future. The NASDAQ was actually down 0.4%, I believe, around 40 to 50 points at the close of the market today. And you can see that if I go to the one day, one minute, you can see the sell-off that we did have throughout the day today. We hit a low at about $79.24. And if we go back to the 184-hour chart, you guys can actually see we hit that milestone of $8,000 on the NASDAQ, which is very, very good. So let's go back to the S&P very quickly. Let's break down some technicals with the S&P. We'll go to the Dow, then the NASDAQ for the market update portion of today's video. So you guys can clearly see at this point that the markets have temporarily found a top, right? And this, you know, it makes sense to me honestly, guys, because the markets, ever since we broke out of that wedge that I was talking about in previous videos last week and over the weekend, you know, the markets have been soaring, right? We had one, two, actually no, we had about one, two, three, four, and then, you know, four and a half days of straight up green day after green day after green day, all-time high after all-time high after all-time high. And what that was doing was it was pushing the S&P to overbought status more and more every single day in terms of the RSI. And you guys can see, you know, once we hit this overbought spot on the RSI, you guys can see it here, we plateaued a little bit, RSI came down, and then we popped up to that all-time high at 3017, we got to the overextended part on the RSI again, and now we're finally dumping here on the RSI as the markets are pulling back. So in my opinion, you know, on the 20-day one-hour chart here, this is a temporary, healthy pullback on the S&P 500, and we're still holding that 50SMA support that's been a support over the past couple of weeks, which is a good sign that the uptrend is still intact here, guys. So tomorrow, what I'm looking for is to see whether or not we hold this level on the 20-day one hour, do we gap up, which would be very good, that would be a confirming sign that the uptrend is continuing, or are we going to break, and this would be a very key technical break here, a break below the 50SMA, and that would honestly start to break us back into the 2,900 level. If that does end up happening, that would be a pretty bearish move. So another key thing that I'm seeing here is the S&P actually closed above, not only that 50SMA that we just talked about, but it also closed above the 3,000 level, which was an old resistance, and is now a new support, as you guys can see. And if I zoom out a bit and get this little drawing tool right here, let me show you guys exactly what I'm talking about, right? You guys can see it clearly held that level that I just drew out, old resistance here as a new support at the close of the market today, really for the latter half of the day. You guys can see we got a double bottom at $3,000, and then we got that breakout of the 180 and the 50SMA on the intraday chart, which is a pretty good way to close, but then we got that dump, which still we're at a higher low from the previous, but the dump towards the close, that's not too good of a way to close in terms of potentially recovering to the upside tomorrow. I much rather would have closed at $3,007, $3,008 on a nice little upswing, but we didn't get that, but the positive thing is we are at a higher low from $3,000, and we did close above $3,000 in general, which is a very key spot that the S&P needs to hold above for this uptrend to stay intact. So at this point, again, guys, our side's overbought, this is nothing more, this is just simply a healthy pullback in my opinion. And guys, if we break $3,000, a spot to watch on the 184-hour is going to be at about 2980. 2980, this was an old resistance back a couple of weeks ago. Now to support level that would also put us on top of that 50SMA support here on the 184-hour chart. So those are just a couple of things that I'm watching on the S&P 500 right now. If we're going to the Dow Jones, you guys can see it seems like we found a temporary top here as well. We hit that all-time high at about $27,398. Let me just double-check and see if that was today. Yup, it was today. You guys can see we hit that nearly $27,400. We dumped all the way down to about $27,290, and then we just consolidated pretty much for the rest of the day around that $27,300-ish level. And if we go back to the 20-day one hour, you can see this is just going according to the pattern here. You notice every time we've popped to a high, we've consolidated a couple of days, we've pulled back, and we've retested that 50SMA support before continuing the uptrend. And that's something that I'm watching here. We've plateaued. Now, maybe we dumped tomorrow. Maybe that RSI gets to an even healthier spot because you can see it's overbought now. It's still kind of overbought at 61, but not as bad as it was a couple of days ago. But ideally, we would like to see that RSI to at least like a 30, 35, 40, 45 level. And at that point, I think the Dow would have completed a healthy pullback, and we would want to see if it holds that 50SMA on this 20-day one hour chart. Of course, if it holds it and bounces, that's a continuation of the uptrend. If it breaks it, that's pretty bearish, and we'll reanalyze the situation there. But ideally, I think it's going to pull back here and then end up holding this resistance, old resistance as a new support, and continue the uptrend. That's what I'm personally watching here on the Dow Jones, just waiting to see if it pulls back and sees that healthy little retracement. So, back to that 5-day-5 minute very quickly. You guys can see the plateau, the slowdown. We might see that pullback here. Again, like I just said, back to the 184 hour, still very overbought here, very overbought at about 75. So ideally, I'd like to see that down, maybe 27,300-point retracement here. That would be pretty solid. If we hold above the 50SMA on the 184 hour, that'll bring down the RSI. That could open up a nice little opportunity for a short-term play on some of these market ETFs. So, Dow Jones Industrial Average, that is what it's looking through my personal perspective here and my personal opinion. Let me know down below what you guys think so far about these markets, their performance over these past couple of days. I would love to know. So, again, we hit an $8,000 level in the NASDAQ. We were down about 40-50 points today, down about 0.4-0.5% at the close. And you guys can clearly see, if we zoom in a bit here on the 184 hour chart, the uptrend is still intact. Notice this green, this is the 50SMA, the 50 Simple Moving Average. This has been a support over the past couple of weeks. And if I just clear this drawing set very quickly because it does look a bit sloppy, take a look at this pattern. Let me just zoom in one more time. Take a look at this trend line that I'm drawing out for you guys. You can see the uptrend that we're on. We're holding that trend line. We're holding the 50SMA. And this little retracement, we were overbought on the R side. It's bringing the R side down. We're holding that trend and we're holding that 50SMA. This retracement, I'm simply looking at it as a simple little pullback in an overheated NASDAQ. So that's looking good. Ideally, if it holds here tomorrow, that could be an entry point for TQQQ, which goes up whenever the NASDAQ is going up. So that could be a very nice bounce back play tomorrow if the markets do recover from the pullback. And obviously, we'll be looking. I'll be looking at the futures tomorrow throughout the night when I'm awake seeing how are they reacting? Are they shifting up? Are they popping up? Are they continuing the sell-off that we saw today in the market? That's going to really help me decide what am I doing in terms of my trades. So NQ, that's what it's looking like. If we go to the 20-day one hour, you guys can clearly see it's still holding that trend line. We're simply pulling back. We're trading above the 180SMA. That was a support from a couple of weeks ago, several different times. So I'm not scared that the market is reversing, that the NASDAQ is reversing. Everything is just pulling back healthily at this point. So that is the market update, guys. For this video, let me know down below in the comment section. Again, what are your thoughts on the market? Where do you think we're headed? Are we going to pull back more? Are we going to drop at this point? Or are we going to continue this upswing until the rate cut that we potentially get here at the end of the month and really just continue from there? Let me know down below. What do you guys think about that? And let's talk about what I personally did today in terms of my trading. So I noticed early on today that the market peaked and then the market started to fall, as we saw on some of the intraday charts. Let me just reiterate what I'm saying here. Well, going back to the S&P, you guys can see we peaked and then we fell, right? Going back to the Dow, we peaked and then we fell and then we actually rebounded a bit, but we were still lower from where we peaked in the morning. And the NASDAQ, which was the reddest out of the three indexes today, this one pretty much fell the entire day. You guys can see, you know, 9.30 a.m. Eastern Standard, it was already downtrending when the market opened. And I took notice to this, guys. You know, I took notice to this and I noticed how there was a bearish cross here on the one day, one minute, the 50 cross below the 180 in terms of the SMAs, the green line cross below the 180, which is a very bearish sign. And from there, I noticed how it was making lower lows and lower highs. Notice how, you know, it fought to get back up to the 180 SMA. It didn't break out. It got rejected at a lower low and then we dumped heavily. We popped up and this is actually when I was looking at SQQQ, which goes up whenever the NASDAQ is selling off. And take a look here, guys. You know, we popped up, again, lower high from the previous, just slightly, but it was a lower high and we were getting rejected at this point by the 180 SMA. And then when we started to drop, I took a position in SQQQQ at around 10 o'clock. So let's take a look at SQQQ very quickly. Let's pull it up very quickly. And again, this goes up whenever the NASDAQ is selling off. And honestly, guys, I've mentioned this in the previous couple of videos, but I've been watching these market ETFs, these market ETFs that go up when the markets sell off, because the markets, in my opinion, have been overheated. So this pullback I've kind of been waiting for. And when we did get that confirmation of the rejection at about 10 a.m., on the NASDAQ, I pulled the trigger on this one. And you guys can see at that point, you know, there was actually a nice margin of profit opened up from that initial spike this morning in SQQQQ. You guys can see we hit 3,150. We pulled back to about 3,130. And that was not a crazy margin. It was about a 0.5% margin. So at that point, I was thinking, you know, we pulled back, we got the double bottom at about 10 a.m., and then we start the spike. I was thinking 0.5%. That's not too bad, right, of a margin. We held a higher or low, the uptrend's looking intact on the SQQQQ ETF, the NASDAQ is falling. All these chips are starting to align right now. So I took the position right around here at about $31.37, a bit prematurely, because although we did get the double bottom, which is a pretty good bullish reversal sign, we didn't fully get the break out of this 50 SMA. But I was okay with that because I was watching it actively. I was ready to cut my losses if things did go sour. And at that point, if they were to break, if this was to break the 180 SMA support, that was where I was going to cut somewhere around here. But I did let it ride. And then ultimately, we did break above that 50 SMA. We saw the dump in the NQ. And what happened, guys? SQQQ ended up spiking, right? So pretty much when we filled the gap up to about $31.50, which again, was that high from once the market opened, we had again a 0.5% margin. I got in at about $31.36. And I sold off once we filled the gap up to pre-market. Sure, I left a lot of money on the table, guys. If we look at this larger term timeframe, if I were to hold from $31.35 all the way up to about $32, if I timed it perfectly, which is very unrealistic, right? I would have made a 2.2% profit, right? So 2.2% is what I could have made. But I'm conservative. I'm cool with taking a smaller margin of profit. I'm cool with taking a smaller profit, right? So I took about a 0.5%. Rather more like a 0.4%, honestly, as we filled the gap up to that pre-market, not really pre-market, but the resistance once the market opened. So that is what I did today in terms of my trading, guys. I hope you all did well in your trading. Let me know down below what did you end up doing today. I would love to know, guys. I love talking to all you guys down below in the comments section. So let's talk very quickly here about a couple of stocks that I have listed on my little piece of paper here, on my notes that I am watching, and actually a subscriber, a person in the Discord, a Discord member, a person of the StriveSmart community asked me to talk about FedEx. So FedEx is one that I briefly took a look about FDX here. And this is one that, if you look on the longer term timeframes on the 184-hour chart, this one's actually breaking out right now, which is something that I'm really finding attractive, actually. We can see that the 180S to May and overall, guys, this has just been downtrending. And the 180S to May has been acting as a resistance. This yellow line, you can clearly see it's been pushing down over the past six months. And even if we go to the past one year, one day, you guys can see FedEx has just been getting clobbered, guys. The high of 250 back in September, now it's at 150. The stock is almost slashed in half, right? That is pretty worrisome in terms of FedEx and FedEx shareholders. But in terms of shorter term plays here, we are breaking out of that 180S to May, which is a very good beginning reversal sign. It's not fully reversing yet, and I'll get into that right now, but it's a good first step. So let me just pull out some drawing tools very quickly and we'll analyze FedEx stock. So it's clear that it holds above 150. That is what we can base and see over these past couple of months. That is a level that it's clearly been holding above, right? And this stock went from 230 to about 150. Holy crap, in the matter of three weeks. That is awful, guys. This is back when, you know, back during the Christmas drop when, you know, the trade war with China was getting kind of heated. This one took a massive hit, right? And we hit that low at about 150. Notice how a couple of weeks ago in the beginning of June, we also hit that low at 150. So that's the second confirmation of the bounce on that support. And what happened towards the end of June? Well, we hit that level again. So we hit that level again and confirmed it. So that's three bottoms on that support, which is a very good sign. And from there, we made it higher or low, and then we made that break out of the 180S to May. So at this point, it's looking good for the beginning of the reversal. We got the triple hold on the support, which is sign one. We got the breakout of the 180S to May, which is sign two. And now we need to see the third confirmation step, which is going to be a hold above this 169, 168, 170 level, which is a resistance, as you guys can see. And at this point, we haven't fully held it. We haven't fully consolidated on top of it quite yet as a new support, which is kind of worrisome. But that is what we need to see quite frankly before we potentially test a 175 level 180 and then so forth, right? And notice how if I stretch this line out a bit more, notice how we're fighting to get on top of this resistance that was actually an old support as well a couple of weeks ago, or rather months ago, back in the March month of 2019. Notice how, you know, this was a support. Now it's a resistance. And I think, guys, let me drag this out very quickly. But I think, you know, if we do break and fully hold on top of this and then start to run up from there into the 170s, 172s, 173s, not only would that bring the R side down, if we did pop up, pulled back, cooled off a bit, that would bring the R side down, which is a healthy thing to see. You know, that would be like the fourth confirmation of us filling the gap back up to the next resistance, which is $184. So, you know, really at this point, I'm liking FedEx. We're seeing some good movement here. We just need to see a hold at 170 and a pop up to slowly start to fill the gap up to 185. And if we take a look at the trend line tool from 170 up to 185, guys, that's about an 8 to 10% margin of profit. That is looking very good on a battered down stock right now that, in my opinion, you know, should recover a bit here, you know, in the next couple of months. But again, do your own research, do your own diligence to not trade any of these stocks based on my opinion, you have to understand what you're doing for yourself, guys, that is super important. So, JNJ is another one that actually reported earnings today. It actually had a red day of about 1.64%. And if we go to the live news, you guys can see they did decently well on their earnings from what I remember here. And let me just pull it up. Let's take a look. So, okay, okay, okay. Where is it? I do believe they beat, out here it is, guys, so okay, I think they beat EPS by 6% or something like that. But I can't seem to find the exact earnings. But nonetheless, you know, now that Johnson and Johnson reported their earnings, I'm interested to see how the stock is going to react here in the next couple of days. We're still, although we did break this little trend line, we're still holding a higher or low from the previous. So, let's see at this point, if this does recover and slowly starts to continue on the uptrend pattern that it's been on over the past couple of months, obviously, we have a criminal investigation right now that could damper JNJ stock here over the next couple of weeks, which obviously I'm being very cautious about that. But if that slowly blows over here, this can be a beautiful dip buy on Johnson and Johnson. The R size oversold, we're still holding a higher or low from the previous uptrend is still intact. Very big company here that usually recovers after the big dips, as you guys can see from the previous massive dip from the Asbestos incident, you know, we recovered quite nicely. So, I think this could recover, we just need to give it some time and it does offer about an 8% margin of profit. So, the next one is 3M guys, I'm not going to spend too much time on this because I pretty much missed the move, but I did want to call it out and recap it because this is something that I called out on Sunday's video, I believe or Saturday's video, one of these videos, I called out 3M from about 175, 173 up to the gap fill at about 178. So, it actually filled that gap. Again, I missed the move, but if you actually caught this move, let me know down below in the comments section. But today was a very good day for 3M, 2% in the green up $3.65. So, at this point, are we going to hold 176, 177 and then maybe gap up to 183? That's what I'm watching right now on 3M. So, JP Morgan, banking stocks have been reporting earnings here over the past couple of days. You guys can see JP Morgan reported what day was this on the 16th, that was today. So, they reported today and you guys can see their estimated it was 2.56, 2.82 was their actual for earnings per share, which is very, very good. We got the pullback, hold on the 50 SMA. So, at this point, it seems like we are gunning, we are pushing for that higher high at about 116, 116.50. So, this could open up an interesting entry point tomorrow. Let's say we pull back, we may retest that 50 SMA, or let's say we pull, or rather not even pull back, let's say we continue to run, it could open up a nice little continuation run entry here, which we could enter into 115, maybe 115.40 as it continues to gun for that higher high. You know, that could be a potential play as well. So, I'm going to see how it moves. You know, there's a pullback as it continue. That's going to be what I'm looking for. So, BAC is another banking stock that did end up reporting earnings, I believe today. Nope, their earnings are tomorrow. So, this is actually one that I'm going to be watching to see how it ends up doing, right? How it ends up reacting to earnings is the earnings positive, negative, house guidance. You know, how does that affect the stock? That could end up opening up some opportunities tomorrow, BAC. It does offer some margin up to about $30, which has been a resistance over the past couple of months, as you guys can clearly see from this trend line. So, those are just a couple of stocks that I'm watching, guys. Very quickly, some ETFs. You know, crude oil has been dumping. If we hold 57.50 as a new support, you know, if we hold that and fill the gap back up to $60, you know, UWT could be a potential play here that I'm watching. It's been hammered. It may be due for a little bit of a bounce back here. You know, UGAS and natural gas. Natural gas took quite a dump today, guys. But if you look on the trend here, let me just clear the drawing set very quickly. Although we did break that 180SMA support, which is not too good of a sign, we're still holding that trend that I just drew out for you guys at a higher low from the previous. So, at this point, since we took the big dip, since RSI, the RSI is very oversold, we could potentially rebound here, which is what I'm watching for. And if we do, UGAS, guys, which has been hammered, it was down 11% today, this could be a nice reversal play. So, I'm going to wrap up the video here, guys. If you enjoyed it, feel free to go down below and hit that like button. Feel free to subscribe to the channel. If you do want to see more content from me and hit that notification bell so you're notified every single time that I do make a video, drop a comment down below, what are your thoughts on the market? What did you trade today? Let me know. I would love to know what you're thinking from your point of view. And if you want to be further connected with the Stryvesmart community, join that Facebook down below. Join that Discord group chat down below and follow me on Instagram if you want to be further connected with me on that platform. All those links are down below. So, thank you all for watching. I'll catch you all in the next video. Peace out.