 What is going on everybody Astos here welcome back some other videos 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 gonna be talking about one trade that I made today on the 1st of February in 2019 as well as taking a look at some other stocks ETFs that performed well or poorly today and Some that I see potential in for this upcoming week But before we do get into this guys if you find value in these videos Yes, you I'm talking to you on the other side of this computer If you find value feel free to smash that like button guys It really really does help support the channel and help the channel grow and I forever Appreciate all you guys out there for rocking with me subscribing like in the video So smash that like button guys and let's get right into the topic of today's video so we have about 13 minutes left today, you know in the market and Needless to say guys in terms of the indices right here the SPX the Dow and the Nasdaq It was a pretty boring day in the stock market. We can see literally guys The SPX is not even up any amount of percentage points right now It's literally up one penny now is down about 15 cents So not much movement in terms of the SPX today guys at all honestly the Dow Jones is up around $31 right now with about 12 minutes left in the market up around 0.13% barely any movement at all But the Nasdaq honestly has the most movement out of the three major indices. It's down about 0.5% down about $37 and 25 cents as of right now So what is this telling me guys, you know in terms of the overall markets right now? Pretty much what these technicals are telling me is that we're gearing up for a little pullback in the overall markets Right, we've seen a lot of the major stocks over this past week do very very well We've seen Tesla come back up. We've seen Facebook do absolutely phenomenal Apple did very well You know a lot of the big-name stocks out there did pretty well this week, right? And you know all these earnings, you know pump some optimism into the market Honestly guys and we saw a lot of the indices fly up a good chunk this week just to give you guys You know a little bit of context here. We started off this week. What what date was this? We can see we started off this week the 25th Let's say the low point was at around 26 24 in terms of the SPX, right? We can see the high point of this week was that was at around 27 16 So overall guys this week we had about a 3.5 percent gain in the S&P 500 Which is absolutely fantastic for just a week span remember guys, you know the S&P 500 Historically brings around 8-10 percent something like that. So the fact that we did 3.5 percent in one week, right? You know, that's pretty big considering we do 8 to 10 percent on a yearly basis Historically in terms of the SPX, but you know For judging on these technicals right here guys, we already know we broke out of that resistance I've been talking about this in the past couple of videos the resistance of the 180 S&A Which has been a resistance over the past couple of months since we did start selling off in the beginning of October We had three separate occasions that we struggled to get and we failed to get above that 180 S&A in October in November and of course in December right before that drastic decline that we had all the way to the bottom here Which occurred right around Christmas time in 2018 and since then guys Of course, we know that we've had about a month a little bit over a month at this point of Straight recovery in the SPX and the overall markets the SPX in particular guys is up around 14 13 14% from this bottoming out point right now Giving us, you know a great start to the year of 2019 in the stock market If you're a long-term investor if you have a long-term portfolio There's a really really really good chance that you are green overall in the year of 2019 but like I said earlier on in this video guys, you know, we are gearing up for a slight pullback here guys We have you know a slight negative day today It looks like we pushed to that higher high at around 2716 and now we're slowly starting to pull back so in terms of next week guys You know, I'm gonna be waiting to see a if we are gonna pull back and of course we can judge this by the futures What large caps are looking like pre-market hours, right? If they're red if the futures are red obviously We're starting to pull back and I'm gonna keep a close eye of attention here on this 50s To may on this 20-day one-hour chart which has been a support over the past couple of weeks really since that bottoming out point You know back in December at the start You know of 2019 roughly, right? So let's say we do end up pulling back here and we get to this level at around 2675 keep an eye and see if we're gonna hold that old resistance at around 2675 as a new support right on top of this 50s in May But let's say we break it right which there is a chance anything is possible, right? That is gonna be the first step the first You know really the first point of confirmation that we're slowly starting to decline and Start to downtrend in price honestly guys if I'm being quite frank with you here This is the you know the support that we're gonna have to keep an eye on for that But let's say we pull back we end up holding the 50s in May and we start to push back up You know, that's gonna be a good sign that we saw a slight pullback And we're continuing the uptrend guys, so that's pretty much it, you know, we are flat right now I am expecting a little pullback due to the RSI being a bit overbought right now We had a lot of great earnings reports that popped up a lot of stocks this week, right? And I do expect some short-term money some short profit taking to be taken, you know This upcoming week potentially causing that pullback so in terms of the Dow guys, it's very similar, right? We're overbought here on the RSI. We broke out of that 180 SMA resistance That's been our resistance over the past couple of months We've been talking about this in every single video and we are still holding that uptrend on the 20-day one-hour chart here If I can get you know, get rid of all this jazz here You guys can see it a little bit excuse me a little bit better and this is not the 20-day chart This is the 20-day chart. So take a look at this guys, you know That uptrend is still intact We pushed to that higher high at around 25 193 that we can see here and now we're gearing ourselves for a pullback So keep an eye guys on this trend line on this 50 SMA on the Dow Jones Are we gonna break below it? Possibly continuing that downtrend possibly getting back into that downtrend that we were in a couple of weeks ago Or are we gonna hold this as a new support? Are we gonna start curling back up here which could give a good dip buy on some of the Dow 30 companies? You know some that I already see potential in including J&J That's just a quick little you know tip there J&J is you know looking pretty good right now in terms of the stock The technicals if it does end up pulling back, you know That could be a good entry point in terms of J&J But we'll talk about that in a couple of minutes here But you know the Dow guys just keep an eye on this and of course if we break it just like the SPX That's going to be a continuation or the start rather of a downtrend that we haven't seen You know in the month of January and in the year of 2019 at all right So the Nasdaq on the 20 day one hour chart We broke that resistance at around 68 20 that we've been talking about over the past couple of videos And for those of you guys that don't know or haven't been watching the videos or just a new subscriber here You know the Nasdaq has been trading in this horizontal channel really from the 18th of January All the way up to around the 30th so 11 days in a row guys the Nasdaq was playing in this channel We can clearly see the support being at around 66 20 and the resistance being at around 68 20 So there was a $200 window that you know the Nasdaq was bouncing up You know holding in between right and the fact that we broke out of this I'm pretty sure this was um, you know obviously due to a lot of the big name stocks doing pretty well this week It pushed the entire market up We broke out of that resistance and now we're trending below this other Resistance from a couple of weeks back. Let me actually show you that one here So if we can zoom in a bit we can see this resistance stems back from 1116 November 16th back in 2018 We were selling off. We held this point a bit and then we broke below it So that's making it a resistance point right here guys and we can see clearly guys You know, it's been a resistance from where the the fact that we got rejected by it again Back here in the middle of December and now of course we're testing it right now So if we do end up breaking out of here guys, which again, there is a chance if we break out of this We're gonna be trading in this other horizontal channel between 68 20 ish 68 50 up to around 7100 so if we do end up breaking here guys, there is a chance we run all the way back up to around $7100 in terms of the Nasdaq Futures so guys, what did I trade today? We got the market analysis out of the way the gist of it is that I'm waiting for a pullback some short-term money Possibly coming off the table next week in terms of profit taking and some of these large cap stocks Now let's talk about what I personally traded today on the 1st of February And if you guys read the title Cron was in the title and that's exactly what I personally traded today for a 1.5% Profit and for those of you guys that don't know Cron is a marijuana stock This is a stock a company. I should say that just got invested into by What's the ticker MO? Altria right Altria the big tobacco company they invested around What was it like 1.8 billion dollars taking a 45 percent ownership in this marijuana company and literally guys ever since this happened? Cron has been on fire. It's been ridiculous guys I read that in the year of this year that we're in right now in 2019. The stock is literally up nearly 85 90 percent at this point actually did it double guys we can see honestly Yeah, I'm mistaken it doubled it went from 1070 all the way up to 21 79. I'm pretty sure if my math's right Yeah, that's that's a double guys. The stock has doubled literally in the past 30 days So the stock has positively reacted to this acquisition The 45 percent stake into the company and honestly guys, I've been talking about Cron over the past couple of weeks I made a video, you know right around here as it was curling back up and calling this one out and ever since then guys You know, of course the deal with Altria pushed it up I'm not some kind of magician some god that just knows when things are gonna happen when things are gonna happen But it kind of worked in my favor a bit here, right? We started to see the cup and handle right or not really the cup and handle the cup pattern starting to form and then once We broke that 14 level guys. It's like we broke out right because from there from this point That was a resistance from the past right we can see multiple different occasions where it broke and from there It's been constant push literally from that resistance break. We've saw another eight seven eight dollars Run in terms of the shares prices. So overall guys, you know Cron right now. It's looking absolutely Insane and where did I trade it guys? Well, I traded traded it this morning as We were popping above this 50 SMA. I did not get in this original pump up from 19 or $20 rather Although we up to 2150 I ended up getting in on this second pullback this pretty big pullback Honestly, and I called this one out in the chat as it was pulling back We saw a nice profit margin open from 2150 down to around 2090 at 3.16 to be exact and from there guys all I was waiting to see guys literally all I was waiting for is the Hold above this 50 SMA Support rather to start off the day and there goes the markets ding ding ding and we saw you know This was a support to begin the day at around 2018 we held above it and honestly all throughout pre-market hours We held above it and we bounced very nicely We pulled back and we held above it again literally some candlesticks were right here consolidating This was for about like eight minutes of consolidation Then we started to see a pump back up and that's when I ended up getting in guys I believe I got filled at around $21 and six seven cents roughly and from there I did not add more money to my position because this was really a quick scalp trade It literally took about a couple of minutes to get out of this one But from there, you know, I wrote it up for 1.5% profit ended up selling off at around $21 and 35 to 36 37 cents right around there in the trade literally lasted me about like 20 Maybe 15 10 15 20 minutes So not really long of a trade at all here. Honestly, it was more of like 10 minutes to be completely honest because we can see You know from 2107 when I got in ended up selling off right around here That was literally you can see the clock here on thinkorswim. That was about a 10 15 minute move in terms of cron Ended up taking my profits there and calling it a day because for those of you guys that didn't watch yesterday's video I advise you to go check that video out I didn't trade yesterday because I didn't see any opportunities open up to me And I do get a lot of questions about should you trade every single day? If you guys want to know that if you're a new subscriber that has not seen my answer yet Go check out that video, but you know, I didn't trade yesterday So I was being very cautious and patient today to see a setup that I liked We got it here 1.5% profit very very solid day in terms of Cron so guys in terms of chronic now, there's really no telling when it's going to pull back We can see here, you know, it's completely oversold But it has been oversold over the past couple of weeks and the stock market traders investors Really haven't given a crap right because they got a big investment from Altria this is honestly huge news for the cannabis company Cron and That's just stop the stock up 100 percent literally 100 percent in the year of 2019 So when are we gonna get a pullback guys? You know probably soon probably soon because we're gonna see some profit taking at some point guys, you know You got to understand there's investors out there There's some short-term traders out there that are up heavily right now on Cron They're up heavily on either call options or you know on actual shares And they're gonna at some point take their profits off the table and if enough people do this, right? If a lot of people started doing this, especially if we get even more overbought Let's say it pushes to the 22 23 dollar level, you know people start taking their profits. What's that gonna happen? Well, the stock is gonna sell off pretty aggressively, you know similar to what we've seen here guys on a smaller scale You know Cron shot from five dollars all the way up to twelve dollars And then it pulled back all the way back to seven dollars and this is something that's happening right now, right? We see, you know a pulled back to ten dollars just like it did here It started off the run at five dollars, right? We doubled in price Literally we doubled in price right now we can expect maybe a pullback back to like 13 dollars, right? That's not too out of the you know out of the loop in my personal opinion because in the back You know the back couple months we see here, you know, we pushed up doubled our position, right? Then we pulled back on top of that previous resistance So if we pulled back all the way to this previous resistance at 13 dollars again, you know I wouldn't be too surprised and that's a huge move. I know that's a pretty bold statement But again, we've seen these stocks do it in the past and honestly guys, you know marijuana stocks They're extremely extremely volatile and I would just would not be surprised if that ended up happening So let me take a look at some tickers I want to talk about it very quickly at the end of this video and then I'll send you guys off on your way and also Comment down below. Let me know what you guys ended up trading today this week How did this week treat you in the stock market drop a comment down below? Let me know did you buy any long-term positions? Did you you know trade any stocks? Let me know down below. I would have loved to know so a couple of stocks I want to talk about today one being Sony. We saw Sony reported their earnings I didn't dive too deep into what they ended up reporting in terms of their earnings But we saw their stock actually took a huge pullback today a very very big pullback It's down about 8% right now and this opens up a potential play This upcoming week in my personal opinion, right because we always see not always But sometimes we see stocks that get pummeled one day Sometimes they have a bounce back day the next day right and this could potentially happen in terms of Sony guys, right? We saw literally it was at $52 and we backed down all the way to $45 that obviously opened up around what like a 12% margin So on Friday guys, especially or not Friday on Monday if this consolidation continues And if we slowly start to push up maybe into the 46 $47 range This could be a potential play maybe back to $50 maybe $48 who knows But the whole idea here is to potentially catch a bounce back up play in terms of Sony So let me quickly set an alert here. I want to be notified. Let's say is at or above We could put one at $47 so Sony guys, that's one that I'm watching heavily We saw micron has been doing pretty well over the past couple of days as well today up around 3.6 1% and for those you guys that don't know Micron is one of my holdings in my long-term portfolio and the fact that we're breaking out of this downtrend Makes me very happy because I was down around 30% on this long-term Investment in micron and you know now that we're starting to gain some ground I'm liking this in terms of my long-term Portfolio but talking about it on more of a short-term trading basis. It's looking very good right now, right? We broke out of that 180 SMA We're pushing up higher highs higher lows all that uptrend stuff that we like to see But what I want to see now is a potential pullback to bring that RSI down a little bit to get a better entry point in My swing trading portfolio Maybe we pull back down to around 38 dollars, which would put us right at that 50 SMA I think that would be a pretty safe bet for an entry point and a potential swing trade in micron picker symbol and You we already talked about Cron. Let's talk about Tesla guys because Tesla Has been doing pretty well ever since it dropped down a couple of days ago So we see Tesla dropped all the way down here This is when they reported that 7% job cut we hit around 280 and now we're trending all the way back up to $315 guys So what am I waiting for in terms of Tesla if we can see here on the short-term chart? It's nothing but nice uptrend higher highs higher lows over the past couple of days So what would be nice here guys is to see a potential pullback Maybe back to 305 308 ish for a nice swing trade because we've seen Tesla do this a lot in the past They sell off heavily end up finding support end up pushing back up right literally this pattern that we see right here Has been done in the past we can see here You know we got that pattern again here as well here as well here as well You know there's a bunch of different scenarios where Tesla has pulled back found support curled back up And then ended up filling that entire gap So that's what I'm waiting for in terms of Tesla and I do see a lot of potential in Tesla for Next week so to end off this video guys Let's talk about one more and that's going to be based on the gold futures We see here are the gold futures. I've pushed up J. Nug has been doing very well But I actually want to talk about JD ST Which is the bare ETF for the gold futures meaning whenever the gold futures are going down in price JD ST is going up in price so we can see here guys You know we pushed up to 1330 and now we're slowly starting to sell off So if we do end up selling off guys, you know, maybe back to 1310 1315 bringing that RSI down a bit this could open up a nice margin on JD ST and of course guys if we do end up, you know getting that pullback We can play JD ST on the upside right and then once we find support on the gold futures If we find support to continue the uptrend right we can hop into J Nug which at that point would be a pretty good entry point So that's pretty much it guys for these couple tickers that I'm watching I'm gonna be covering more tickers on Sunday's video. So keep an eye if you're new subscribe to the channel for Sunday's video I talk about different stocks ETFs that I'm looking to buy invest trade-in every single Sunday For that upcoming week and we'll get into more depth on more stocks and ETFs then so if you guys enjoyed this video Feel free to smash that like button leave a comment and subscribe Follow me on Instagram as well as on Twitter 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 all in the next video. Thanks for all the support all the love. Peace out