 What is going on, everybody? It's Dost 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 ended up doing today in terms of my trades on the 3rd of June in 2019. And we're also going to dive into some interesting news we got involving some of these big-name tech stocks, Apple, Facebook, Google, and Amazon. For all of you that have been paying attention to the markets today, you've paid attention to what was going on. These four stocks got absolutely crushed, the NASDAQ, the index got crushed as well. We're going to be going over that, my personal perspectives, my opinions, and where I see this going from now, as well as just talking about a couple of stocks and ETFs that I'm watching as of right now, heading over these next couple of trading days, and my whole plan, my strategy, what's going through my mind right now in the current stock market. So before we do get into all of this, if you guys find value in these videos, all I ask from you is to simply go down below and hit that Like button. It really supports me and supports the channel in general, and I really do appreciate every single one of you all out there doing that. It really does mean a lot to me. Let's just hop right into it, guys. The S&P 500 closed literally five minutes ago here, ended up closing down $7.74, down 0.28%. The Dow Jones ended up having a slight green day today, up $4.74, up 0.02%. So very minimal move there in terms of the Dow. And then when we get to the NASDAQ here, guys, take a look at how bloody of a day it was for the NASDAQ, down 2% right now, down 145 points. That's pretty much one of the worst days that we've had here over the past couple of weeks in terms of the NASDAQ. Anything over 2% drop in a day, that is pretty bad in terms of the indexes. And of course, 3%, 4%, 5%, that's very drastically bad if an index goes down that much in a specific day. So let's break down some technicals here. Starting off with the S&P 500, we talked about how it was trading in a zone between $2,800 and about $2,730. We've been talking about that over these past couple of videos, and we can see it outlined here by these two red trend lines. Notice how we're right now at the level of support at around $2,730, and we're actually at a level where it used to be a resistance back in the beginning of February. We ended up popping out of that level, making it a new support. And then we retested that $2,730 level as a support in the beginning of March, and we ended up pushing to that all-time high from there. So that gives us a couple of different previous time periods where this level was a support, making it a pretty valid support level to watch because the price is there right now. So we have to just keep an eye. Are we going to end up bouncing on this level for the S&P 500 and potentially seeing a couple of recovery days? This is something that can definitely happen. In my opinion, the R-size is very oversold right now. We are at a level where we bounced, and we are seeing a green candlestick here forming on top of it the support level on the 184-hour chart. So for us to pop up a little bit here, for us to see some recovery, it wouldn't really shock me, right? But let's say we end up breaking that level. Let's say we get into the 2720s and we start to head into the middle of this next level, this next range of trading. We may be testing closer to that support at around 2690, which is the next level if we do end up breaking 2730 tomorrow. And let me show you guys why I personally think we might end up seeing a bounce back day, either tomorrow or the next day. Take a look at this pattern. And we've been talking about this over the past couple of videos, right? Every single time the S&P has pushed down to a low, right? We've seen a bit of a rebound. And we honestly have not gotten a rebound, and it's been two straight days where we've pushed two lows, right? Take a look. On Friday, we pushed to the low of 2752. Today, we pushed to a low at about 2728. That's pretty much two lows in a row, two lows in two days in a row. So it wouldn't shock me if we ended up popping up back here doing something like we did over these past couple of days multiple times. Just take a look at my cursor right here, right? We notice we pushed down two lows, and then we saw some recovery. Lows, recovery, lows, recovery. So let's say this is that time period where we end up popping back up. That could be a time where we're recovering back up to that 50 simple moving average resistance. And from there, if we break out of that, that could be a bullish move for the S&P 500. But if we get rejected and slowly start to push back down after we see a recovery, that's just simply the continuation of the downtrend. So that's kind of what I'm seeing right now. Again, I wouldn't be shocked tomorrow if we did see a little bit of a recovery in the S&P. But overall, the downtrend right now is still intact. Don't think that we're reversing to the upside. There's really no technical indication that we're doing so. And that's kind of my opinion right now on the S&P 500, guys. The Dow Jones industrial average, we talked about how in last week's videos, we talked about how we broke the 25,000 level of support. We're now trending between $24,500 and $25,000 for the Dow Jones, kind of hovering in the middle of that horizontal channel here. So just like the S&P, the downtrend is still intact. Really, the technicals are exactly the same as they were last week and last video that I made, because literally we had a $4 day to the green today. Nothing changed too much, literally the closing price. It's very, very similar to what it was in the previous trading day. And going to the 20-day one-hour chart, you guys can kind of see the similar pattern as the S&P 500. You notice how every time we've pushed to a low, and in this case, we've pushed to two lows in two separate days, we've had some recovery. We've had a little bit of green, and that could end up happening right now. Notice how we pushed down to the lows, we recovered, recovered, pushed down to the lows, recovered. Now that we've had two days to the low, we're noticing a bit of a breakout here on the RSI. We could pop up to the 50 S&A resistance here, and at that point, just like the S&P, if we break that level, that could be a bullish breakout. If we get rejected, we slowly start to fall from there. That is just simply the continuation of the downtrend. But now, guys, the downtrend, it's still intact. It's still intact. We're falling down day after day, and the markets are just simply looking pretty ugly right now. Let's just be honest. And for those of you all that have not been in tune, this past Thursday, we got news Trump might be slapping, or he is slapping tariffs on Mexico, which kind of rattled the stock market on Friday over the weekend. And I'm guessing that rattled the stock market today as well. That's kind of the fresh news out there, as well as the trade war with China, Trump, China, the trade war tariffs, all these different things. And now, we're understanding, we're getting some news about anti-trust, the government regulating harder, or they want to regulate harder on some of these big name companies, which saw the huge drop in some of these big name companies. And we'll get into that here in a couple of minutes. Actually, we'll get into it right now, because we're going to be talking about the tech-heavy index, which in this case is the NASDAQ. So NASDAQ right now down 140 points down 1.96%. Again, we talked about governments, they don't want these big companies, these Silicon Valley companies, to get too big, to get too strong. So they're looking to regulate them, right? They're interested in, you know, the Google, the Facebook, the online advertising products. These things can scale very, very big over time. They have a lot, a lot of power, and they just don't want a lot of this power to be taken away from, you know, smaller businesses, right? They want it to kind of be a fair playing field, and they just don't want these businesses to get too strong, right? We saw the NASDAQ ended up plowing through that $7,000 level that we talked about being a very strong, you know, level of support here. We broke down into the $6,900 level now, and what seems like we're holding $6,990, roughly $7,000, which is that support that we need to be holding now for this whole, you know, for really just the NASDAQ not to collapse, right? Because if the NASDAQ breaks this level, that's very, very ugly on a technical basis, because from there, we may be going down to $6,800. We may be going down to $6,600 more towards the middle of the $6,000 level. And of course, if this, you know, this news about potential, you know, FTC, you know, regulations, this antitrust news that came out, you know, that can really cripple some of these big companies, if this continues to be a catalyst over the next couple of days, who knows? This could continue to drag down the NASDAQ. Of course, it can drag down, you know, the Facebooks of the world, the Amazons, the Googles, the, you know, the Apples, you know, they can just completely crumble here over the next, not completely crumble. I'm being a bit exaggerated there. But they can fall another 3, 4, 5, 6, 7% guys, who knows, right? That's very, very possible in my opinion. Judging on this 20-day one-hour chart here, very, very obvious the downtrend is still intact here, right? Noticing we hit the low of $69.40 today. Now it seems like we're trying to make a comeback and kind of, you know, consolidate and recover a bit before we either break out, which I doubt is going to happen at this point with all of this news going on, or before we end up getting rejected in continuing that downtrend. So that's kind of it right now, guys, in terms of the market, the S&P, the NASDAQ, they weren't too heavily, or the Dow rather, they weren't too heavily affected today, but NQ got squashed and the markers were just kind of choppy, right? We saw the S&P close at 760 down, but on the one day, one minute, we noticed how, you know, it was pretty choppy. We went up, we went down, up, down, up, down. It was a very choppy day of trading, but it did offer quite a bit of volatility and quite a bit of profit on these market ETFs that we trade. And I talk about a lot on this channel, which kind of segues into what I traded today, guys. I ended up trading SQQQ, and this is an ETF I talked about in yesterday's video. This one is a 3x leverage ETF that trades on the NASDAQ, right? At first this morning, I saw Facebook falling heavily, and I was like, what the heck is causing this drop? I didn't really get the news, and I was like, okay, I looked it up, I started to see it, and I was like, oh my gosh, this is going to have a bunch of negative downside, at least in the very short term, on Facebook, Google, and a bunch of these other fang stocks, even though Netflix wasn't really a part of it, and it did, guys. It pretty much shot down those very heavily today, like we already talked about, and that had a huge way on the NASDAQ. In this ETF in particular, it trades on the NASDAQ, right? It tracks the NASDAQ. When the NASDAQ is down 2%, SQQQ is going to go three times that direction to the upside, which it did. As you can see, it went up 6%, right? 6.4%. So I pretty much just scalped SQQQ today. I did not get in on this big pop-up here. I kind of waited for the dip, the consolidation, and we slowly started to run back up, and I just got in, filled the gap up to the resistance at about $46, and that was it, guys, honestly. So we got in at about $45, and I started to realize we were filling that gap. $45, let's say, I think it was like $0.65, $0.68. Up to where that gap filled a little bit under it, honestly, I got about a 1.3% profit on SQQQQ. And you guys can see, like I said, it was up 6.4%, and this is a very, very good one today to trade, especially with how volatile the NASDAQ and how just bloody the tech stocks were today. Very, very bloody. I think this was up like 8% at one point. So if you guys were able to capitalize on this, drop a comment down below. Let me know how you guys ended up doing today. And as you can imagine, you know, a bunch of these volatility ETFs were on fire today as well, right? TVIX at one point was up, I believe, like 4% or 5% or something. It was up to 27 bucks. It saw that big drop as the markets recovered towards the end of the day. You know, UVXY did pretty decent as well, but again, it's down a little bit now because the markets settled down. We saw a bit of that run up towards the end of the day. The VIX kind of calmed down, which is why they ended up seeing that pullback towards the end of the day. But that's what I did today in terms of my trading, guys. Let me know what you guys ended up doing today. I would love to know. So let's just talk about and honestly break down some of these tech stocks now that we're on the topic of the NASDAQ, you know, these marketing ETFs, what's been affecting the markets, and it is the tech stocks. So Facebook today, guys, I am a long-term investor in Facebook and Apple actually. And these were kind of, obviously, they were a pretty big down move in my long-term portfolio today, right? Pretty big down move in my, you know, Facebook and Apple shares here. But I'm not too worried about this long-term. I have not bought any more Facebook and Apple at this point in time. It's not near a price. The two stocks are not near a price where I would buy more in my long-term portfolio. I'm just simply holding them right now. And you guys can see, you know, this is very, very ugly looking in terms of a technical basis, right? We were looking like we were just hovering right under that 50 SMA up until today, and we just dropped off a cliff, guys. So at this point in time, the technical spot we're holding on Facebook is at about $160. This is a very clear and a very valid level of support that we did confirm a bounce on today. If we go to the One Day One Minute, you guys can see the bottom there, double bottom. And we kind of saw a triple bottom there, and now we're closing on a little bit of an upswing. So that's a good sign that Facebook is potentially holding that low level support at $160. Going over here to Google, we can see a near a 7% drop today at its worst, I believe, down $67 at the close. Very, very ugly here, guys. Very, very ugly. We're noticing how Apple, not Apple, Google here is holding actually roughly a support at about 1030, 1020, 1040-ish. And that's a very critical level of support, guys. If we start to trek down back into the $900 level, that's going to be pretty interesting in terms of Google. And that might be a point in time where I'd consider a long, long, longer term position on Google, right? Longer term position. Because in the 900s, let's say we get to the high 800s. That's a pretty attractive, at least starting point, in my opinion, to start a position in Google in terms of its overall valuation at that point in time. So let's take a look at Apple very quickly. Apple, again, just like all these other stocks, Apple got hit pretty decently today, obviously not as hard as Google or Facebook. But Apple did get hit down about $2, is trending at about 173 now. We're holding a support at about 174, 175. Used to be an old resistance back in the beginning of February, back in the beginning of March. We broke out of that level of resistance, making it a new support. And if we break that, guys, we might be headed back down to the high 160s for Apple stock. Going over here to Amazon today, again, another one that looks like it fell right off a cliff. We're ending up, we ended up holding a level of support at about 1675, or at least we're holding above that as of now for Amazon stock. And if we break that, we may be heading down to the high 1500s, especially if this whole antitrust, this scrutiny on these big name companies, if it continues, it's obviously going to continue. And if there's any action taken, maybe some regulations, which I don't really know, guys, I'm not an expert on that. But if there is some action, these companies can get hit much, much worse. So that's kind of a rundown on what happened today, guys. All you need to know is that tech stocks got crushed today. They're most likely going to be under a lot of pressure here over these next couple of days, especially the NASDAQ as a whole is probably going to be in a lot of pressure here. Markets are still in a downtrend. I'm looking for that downtrend to continue, to be honest with you all, I'm still bearish in the short term about the stock market. Sure, we may bounce back tomorrow or the next day, but in terms of like a one-month perspective right now, at least until the next Fed meeting, at this point, I'm still pretty bearish. Let's say we get a Fed rate cut, maybe if we get a rate cut, that might stimulate the stock market a bit in a couple of weeks, maybe in a month, it might pop up a little bit at that point. But until that point, I'm still bearish right now, guys, on the overall stock market here. So for tomorrow screenshot this, these are what I'm watching, the market ETFs. I'm not looking to swing trade any stocks right now, guys, mostly looking to play these inverse ETFs and these market ETFs that I talk about all the time on this channel. So I hope you all enjoyed this video. If you did, let me know down below in the comment section. Drop a like to support the channel and leave a subscription, not leave a subscription, hit that subscription button, the subscribe button, hit that notification bell so you're notified every time that I make a video. I'll catch you all in the next video. Thanks for all the support. Peace out.