 All right, what's up guys, this is Alex from Xtrades back to you with another weekly trade ideas list. I hope everybody had a wonderful trading week and also just had a good week in general if you had a good weekend as well, got your brains rested and are ready to get back to it. Markets are opening back up on Monday here and we'll go ahead and get into the economic calendar. We have nothing scheduled for Monday in terms of data, no Fed speakers, anything like that. Tuesday, the only thing we will have is existing home sales. Wednesday we do have the PMIs coming out, so S&P Flash, US Services PMI, S&P Flash, US Manufacturing PMI and also new home sales. So today is worth the real estate data here Tuesday and Wednesday and also the PMIs. So these can definitely move the market and it'll get even more interesting throughout the week. So Thursday we do have Jackson Hole coming up. So if you didn't know, Fed officials do go up to Jackson Hole, Wyoming for sure It's like a ski trip of some sort. They've been doing it for years. They go once a year and basically all the Fed officials, they hold press conferences and overall they do speak to the public and on Friday is when Gerald Powell, our Fed chair, is going to be giving a speech and this has huge impact on the markets depending on what he says. Last year's was just outrageous. He mentioned pain in the economy at least 10 to 20 times, I'm not sure the exact number. There's a lot to unpack during that speech and the markets did sell off very, very aggressively last year. This is closer to when we started our rate hike cycle. So it may not be as impactful this year just because we're starting to get to the end of the rate hike cycle and inflation is also coming down. So there's not really as big of implications as last year, but we'll see. So Thursday we'll just have other Fed officials doing interviews from the Jackson Hole Summit. We also have initial jobless claims. We have durable goods orders and durable goods minus transportation. I'm guessing the Fed officials interviews is probably going to be the most important. So you'll probably see a lot of stuff dropping on the newswire that day from other Fed officials, maybe not from Gerald Powell because he's going to talk on Friday, but you know, it could still have a little bit of impact. We'll see. Then Friday, like I said, that's when Powell is going to be talking, giving his speech and it could definitely, definitely, definitely move the markets. And then we also have the regular US Michigan consumer sentiment that comes out at 10. So mid session, really close to the Jackson Hole speech. So Friday is going to be the big day, arguably the most important. And then I would say second most important is probably just going to be like the PMIs and potentially the Fed official interviews as well, depending who's going to be talking and who's going to be hitting the newswire. So as for the economic calendar, we'll go ahead and get into our setups now. This week I do have four call setups to look at. Last week we had maybe three or four call setups as well. The only day that did really good was Monday. So PayPal had a great day. We were looking at calls on that on Monday. I was able to catch a couple of scouts on that on Monday, but then the rest of the week was just straight paying for the market. So the markets did sell off, you know, from Tuesday all the way until Friday, pretty much. And then Friday, we started to hold up just a little bit better markets bounced on the OPEX date. Hopefully this week it won't only be Monday that has a good day, but we also had JetBlue that did pretty good on Monday as well. So JetBlue and PayPal did very good. But for the rest of the week, it really didn't do too much. PayPal sold off pretty heavy. So unless you're like in a swing trade for that, we definitely need to give it a little bit of time to bottom out because it's at 52 week lows now. We're looking at that demand zone last week. So just got to be patient with that one. But for this week, we're going to get into our first one. We're looking at PLTRs. This is Palantir. It's pretty much just been our one of the main AI plays has been hitting the market other than Nvidia. I had a great run up. Obviously it's still somewhat in an uptrend. I wouldn't say it's, you know, the most bullish anymore. You're kind of starting to get that head and shoulders type of vibrate. You got a shoulder, you got a head. It looks like it could, you know, eventually try to break down the support, break the neckline and go lower, but it is that support now. So that caught my eye. So this 1350 support looks pretty good. I'm going to be looking for bounces on this just because the supports, you know, it's pretty good. It had a great bounce over here from June and it looks like Friday had a pretty good initial reaction to it as well. Closed up 1.77%. So relative strength versus, you know, the regular index is SPX closing flat. QQQ, essentially also closing flat PLTR up almost 2%. So that's what you would call relative strength. So I hold up pretty good. A lot of other high growth names held up very good as well. I saw DDOG did really good. SQ did good. PayPal closed up pretty good. PayPal actually did break a new low and then eventually it reclaimed over our one week demand zone and closed back within that same demand zone. So that's why I feel like PayPal could still be good. But this week we're going to be looking at SQ. We'll get into that next. But Palantir here, obviously your risk off is just going to be under 1356. So if it broke 1356, there's a good chance to get back test and then try to go lower. I feel like it's going to probably bounce up and try to make a shoulder first before trying to go lower. And that'll probably need to get up to, you know, at least the 15s somewhere around there, probably this little short term reactionary right here where I had a red candle fall through afterward. And that's going to be about 1580s close to 16. But that's about as far as I could see it. Maybe you could get away with 17 because that would match this other shoulder over here. If it worked to make a head and shoulders, which is just speculation. I've just seen these patterns play out so many times. It's just kind of an assumption I make. And we saw it on Netflix. We went over Netflix a couple of weeks ago. We were looking at the demand zone. It looked a lot like this, but there was no shoulder formed. Yeah, there's no second shoulder, but there was the first shoulder. And I said the maximum I could see it was to come up, you know, match the second shoulder, which would be to your left. And it did exactly that. And then eventually it went lower and broke the neckline. So the head and shoulders did play out. So I'm trying to keep that in mind when looking at Palantir here is that I could repeat that similar Netflix pattern that we went over. We were coming up, make the shoulder, break the neckline and then go lower, especially with September coming up. So that's for PLTR. Looking at calls risk off below 1356 price target. If you wanted to be greedy, probably just, you know, close to 16 or 1580s. If you want to be more conservative, which is understandable. We're in the summertime, markets get, you know, liquidity is not as good. Markets gets lower as we see. I mean, markets have been selling off. So if you want to be more conservative with calls and bullish trades, by all means do it. So PLTR here, looking at calls. All right. Next, we're going into SQ. So this is another payment services play. We looked at PayPal last week, had a great day on Monday. Unfortunately, no follow through after that as we went over in the beginning of the video at a pretty rough week, ended up breaking below the demand zone and then reclaiming it. SQ here had a different story. It wasn't quite at support yet. So that's why we didn't have it on watch last week. Looks like this was Monday. So it was all the way up here on Monday. PayPal was close to support, which is why I had a pretty good bounce. SQ is a little bit lower to go in order to get to 15 or I'm sorry, in order to get to 50 505 support, which is what it tapped right here directly. That's from May 2023. You can see open up here Monday, pulled all the way down into support. Really big balance on OPEX date, which is Friday. That's August expiration. If you're newer and don't know what OPEX is, that's the monthly options expiration. The monthlies is usually where it has the most open interests in the options market on any options chain for really any stock. The monthlies are going to have the most volume and the most open interests. And that usually has the most money expiring all at one time. So it makes, you know, markets pretty volatile. As you see, SQ was like a gap down pretty heavy, opened right at the 55 and then huge rip to the upside. So 55 held really, really great. And I feel like this could have a little bit more upside. Obviously it's a little risky. You're going counter trend. We can see the slow stochastic here looking extra oversold. I mean, it's literally like below 10. It starts to get a little bit in the oversold territory when it's below 20 or so. And now it's like below 10. But you can see if you look really closely, it's actually trying to curl up. So look at this little spot right here when the purple gets over the orange. That means the slow stochastic is crossing back up. That means momentum is trying to shift back up. And we likely got that little shift from this little candle here on Friday. And then likewise, when the purple crosses down over the orange, that's when you get a momentum shift to the downside. Similar to like a MACD or a KDJ or really any escalator that used for crossovers, same gist. So now that it's trying to cross up a little bit and you got 55.05 support holding, obviously your risk off go void. If it broke 55 and closed under it, or even with a weekly bar, if the weekly bar went under, as long as it closed back over 55 with a weekly bar, you can consider that level still holding. But if you're using daily bars, a close under 55 could also mean that it broke as well. So you kind of got to figure out which one you want to use. I feel like the one day and the one week bars are most reliable. One week more reliable if you're using for doing trades and, you know, long-term analysis. One days might be better if you're trying to stick to more shorter term trades and you're kind of just adjusting on a day to day basis. These one day bars will kind of give you that read. I feel like this could see some continuation next week up to at least this little previous support right here. It's going to be up to 61.65. I don't think it'll get up there this week, you know, all the way. It's a pretty good balance. If we took a info tool and we measured all the way up to 61.70s, it's going to be about an 8% move. So realistically, I mean, it's as cute. It's pretty volatile and it can bounce that hard in one week, but you know, you kind of got to be realistic with the stock market, keep your expectations lower. And if it, you know, doesn't pan out, you won't be as hurt and you won't be as disappointed. So never expect anything from the market. Just adjust day by day and, you know, don't get greedy. And also just, like I said, keep your expectations low. Cause then when, you know, if your price target is reached or if your expectations are breached, it feels that much better that, you know, you were correct on your analysis. So there's also a little, it's like a little pivot right here from May. It's going to be at 57.78. So I'm guessing it would need to get over that since there was a previous area support. I don't think it's like the biggest support in the world. This 55 is most important because this is the lowest point from, you know, 2023. So as long as that's holding, it looks fine. If it can get over 57.78, great. But the 61.65 looks like it had the most impact. I had a pretty big sell off, but this is where it really kicked off a huge buy imbalance to the upside. So this is probably going to be the most important level that it gets up to. And it likely would try to act as resistance about there just because it's such a big level. But this is basically all buy error. This is basically all sell imbalance. There's really no supply zones I see. I guess you can mark this little supply candle right here. It's a little green day that led to more selling. So I guess you could count that as a supply zone. It's going to be, you know, about the 59s or 60s or so. So you could watch that area as well. That could act as maybe resistance. It's a little drop based drop zone. So SQ here, I'm looking at calls with risk off, stop loss or whatever you want to call it under 55 flat. And it would need to have a one day close under that for this level to kind of go void and not work anymore. All right, next we're going on to Pfizer. And even though I don't really care for this company or the vaccines they produced, this setup looks great. This is a bullish falling wedge. If you've traded this before, you know what it is. It's just a regular bullish pattern. Starts with a test one, test two, test three downtrend line. And then you also have kind of like a trend line support that has the same test one, test two, test three. That's when your wedge is formed, when you have three tests on each side. And then once it breaks out, that's your confirmation to the upside. So your confirmation was actually on this first bar. That's when it confirmed that the breakout was valid. And that's probably when people started to pick up the pace a little bit, volume probably picked up. And then we're not really too far from that close. So I feel like this is not too far broken out yet. Do not enter. Sometimes you want to be a little bit closer to the line when it breaks out just so you're getting better risk to reward. But I mean, like I said, this is not too far of a breakout already. And you could have a little bit of room. Oh, there is a supply zone right here, which kind of worries me. It will need to get over that. And if it can start trading inside of this and get through this with no issues, obviously then it can see that 3780 peak, which is right here. So this little drop based drop zone could be an issue. You can see this wick, this wick candle actually tapped the supply, went down pretty heavy. And this is actually going to be the second time the supply zone is tested. So it may not be as strong. The first initial tap of a supply zone is always going to have the most velocity. I don't mean like it has to every single time, but most of the time, the first test is always the best for any supplier demand zone. And then they kind of start wearing down similar to like a support level when it's been tested so many times. Let's say like a resistance level has already had three or four tests. That means liquidity could be drying up and eventually it could have a blow off top if it's been tested too many times. But for PFE here, it looks pretty good. Nice little bullish falling wedge. I'd probably stick to a swing trade on this, especially with COVID cases coming back up. There's been a lot of reporting on that. You can see this little news wire down here. The Biden admin is already urging Americans to get new COVID boosters. So this could kind of prop up the industry a little bit and the sector as a whole could be worth watching with the summer COVID cases coming up. Hopefully we don't end up putting ourselves back in the lockdowns or anything like that. But it's still worth a watch, watch the sector. PFE and Moderna both are kind of oversold. I mean, they've been trending down for a little bit and now trying to curl back up to the upside and you have your confirmation pattern right here. If you bought 30 to 60 days of expiration for calls, that'd be good. You give it a lot of time to work. You give it a lot of time to work through the supply zone which could be a factor. Like I said, that's why I'm kind of skeptical on it for day trades and stuff. But just because it can naturally act as resistance here, as you see this big red candle that wicked the general area of the zone went down hard, it can do that same exact thing again and try to repeat it just because it's a pattern and other people see it. So it's kind of that mass psychology factor when one person sees it, another person sees it. And then if they both do the same action that can set some cell pressure on the market. And if everybody's doing that at one time, that's kind of where cell imbalances come from at supply zones when everybody sees the same thing. So PFE here looking at calls just maybe by 30 to 60 days of expiration. Maybe look at this one as a swing trade. It's because the supplies in the way it would need some time to work through it. And then also get over 3780, which is kind of close, but they're still pretty good pointage here. Looks like 3669 to 3780. So you got about a dollar or a point till we hit that just pretty good. Just buy time on it and be patient. All right. And lastly, for our individual tickers here, we do have Nike. We actually had this one on watch quite a while ago. We're looking at this downtrend breakout right here. And you can see, I have the same 11034 level from the last time we were watching it. We needed to get over that for confirmation. And look, it was just never been able to breach it. It's actually rejected it one, two, three, four, five times. So the last time this was on our watch list, we had this same level and the 11030s was our breakout level to get over. In order to get up to supply, it was never able to do that. So it just kind of reflects why confirmation is important. I guess you could say that this bar right here did close over it. And this one briefly did as well. But at the same time, if you mark the little wicks right there at 11080s, that never breached. And overall, it looks like it just kept making, it kept making little higher highs. Like you got a higher high, higher high, higher high, higher high, just not, you know, in a convincing matter. So you really want to see like a convincing bar over the 11034, obviously, and that would be a good breakout zone. And that's what we were looking at last time. So I just wanted to show you that, but this time we're looking at a completely different level, which is this big drop base rally demand zone. These are one of my favorites to trade because they have really good risk to reward. And obviously you just keep your stop loss or risk off under, you know, the demand zone low. And for that, that's going to be 10290 flat right on the dot 10290. So if it breaks under that, you could assume that the zone is void and it could go lower. But right now you could see Friday actually did produce a little green bar, nothing crazy. That just means a gap down down here. And it ran up, you know, pretty much for the rest of the session and held up at a decent high. So you have a pretty good reaction. You got a small bounce off demand, little red or a little green candle off demand here. And then some more follow through. So it was able to hold this up pretty good. It looks like it has a good reaction. And also you could call that 104s, the 104s to, you know, 103s. You could call that the demand zone. So likely I would be looking for a move just back up to the 11030s, the same resistance that we covered before. As long as this demand zone is holding, it looks pretty good. And as long as it's, you know, over the demand zone low, which is your 10290s, you know, it should be fine and it could hold up pretty good here. And we could see a bounce. One thing to keep in mind, it did already have one bounce here. So this is the initial demand zone reaction, which is great, really nice run up. So this would be the second. So I'm not sure if this one will be as strong as the first initial reaction. Like I was saying earlier, the first is usually always the best. But, you know, from time to time, you will see the seconds working just as well or the third or the fourth. I've seen demand zones be tested for a fourth time that have had a similar spring to the first. So just depends. And, you know, the stock market does have some randomness to it. So can't really guess if it's gonna be as good, but we can kind of make an assumption that this demand zone had a great bounce prior. So this, you know, the second test could be pretty good as well. So maximum I could see it back up to the 11030s. I don't think it's just gonna reach this within a week. It's a pretty good move for Nike. Nike's kind of a slow mover. If we draw an info line from here up to 11030s, it's about a 5% move. So that's a big move. I just think this is the closest resistance on the one day timeframe. It's gonna be, you know, at the 110s. So this could take a couple of weeks to get up there. It could take one week. Who knows? I mean, you can see right here, Monday, Tuesday, Wednesday, and almost made it to 110, you know, within a week here, here's Friday. So it came close, but, you know, you can't expect it to move 5% in a week all the time. You just gotta be realistic sometimes. But overall, I feel like 11034 is a potential price target. So just keep that one in mind. You can maybe mark this little wick high right here too. It's gonna be at 10830s. You could also maybe even mark this short-term support. You got a test here and a test here at 106.76. So you could watch that as well too. Maybe that could run up into that and that would try to act as resistance. I just kind of got to draw around and play around with it. This is a pretty good chop range. So yeah, you could mark this 106.70s and also this 11030s. And there's a little wick right here, a strong wick that led to selling. So this 10830s could be good as well. So we'll call it 106.76 price target one, 10830s price target two, and then 11030s price target three. Probably the overall, just because I have no idea if it'll be able to break out of this just because it's had trouble before. But this has had one, two, three, four, five tests already. So maybe once it gets up to 110 again, it could have enough strength to break through it since it's been tested so many times. So that's for Nike here, looking at calls. All right, and before we get into the indexes this week, we'll go ahead and get into the SPX seasonality chart and we're gonna be going over an SPX technical chart next. So this is actually 25 years worth of data. This is from August 21st to August 31st and it's 25 years worth of data pretty much just stacked into a line graph as you see here. So I'm just highlighting from Monday, which is August 21st for us down to August 31st, the end of the month. I would have done just the week, the 21st to this Friday, but I'd rather see it through the rest of the month to kind of give us an overall picture of where the markets historically have been moving. And you can see it's actually averaged a negative .47% average return. So overall, in this 25 years worth of data, this did average a negative return. You can see there is a small little upthrust up into the 27th, just this little area right here. And then afterwards, after the 27th is when you see that little move down. So this could result in a small little upthrust. I was looking at the Almanac that I have. I posted it in the Watchlist channel every week. The Almanac does show mixed results pretty much. It said the dial was up maybe nine out of 17 times the last 17 years. Let me look at it real quick. So you can see here, it looks like week after August expiration is mixed, dial up nine of the last 17. And then Tuesday, you have a bullish icon. And then the rest of the week is all pretty much neutral. I can show you this right here, these little numbers right here. You see DSN, that's Dow S&P NASDAQ. You got a 61.9% chance of rising for the Dow. You got a 71.4% chance of rising for the S&P. And then the NASDAQ 81.0% chance of rising. So these are just probabilities. And pretty much whenever they have a higher number, usually over the 60s, you're gonna have a bull icon for the Almanac. And then usually when they're lower, you'll have a bear icon. It just depends on the historical data. I believe they take about 50, maybe 100 years or so, and pretty much just make probabilities based off of that. And then they'll give you icons. They'll also give you little quotes like this, little fun facts. So if you want to, go check it out. It's called the stock Almanac. You'd probably get one on Amazon. They make one every single year. So just wanted to add that since we're going over seasonality. So yeah, maybe when 27th or so comes, that's when we should be a little bit more worried. It looks like there's a pretty big drop right here. And then you can see mid-Septembers when it gets pretty bad. So there's a little chance for an upthrust, it seems. And then, you know, after this week is kind of when it starts selling off into the end of the month. So last week, we're focused on this 4.450 on SPX, which is also this back test level. And we actually bounced off of it. Right here, you can see Friday held it up. And then Monday, really big bounce. So we were looking for a bounce off that, which we got for one day. And then I pretty much mentioned you would want to absolutely hold this. Otherwise it would literally just do what the NASDAQ did when it broke its back test level and flushed just like this. And that looks like the 4385 was the support we had next. It even breached through that and closed under that. But now we're in a drop-base rally demand zone. So it looks pretty good here for a potential bounce. It did hold up, closed flat. I wouldn't say, you know, that means we're just gonna open up green on Monday or anything, but there is a pretty good chance that we held this demand zone that we could bounce up. We need to reclaim 4385. So we need to reclaim this little area of support right here. Likely close over it. And then maybe it'll run back up just into the back test resistance, which is gonna be at 4450. Absolutely has to reclaim 4385, like I said. And that could take you, you know, back to this little area right here. But that's about as high as I could see it. If we were able to get up that far, it's a, I mean, all three of these bars right here are just straight sailing balance. So there's a good chance it could run back up into supply. This is also a new supply zone. Because on Monday, we had a big run up and that led to straight selling. So your base candles is what leads to selling and your base candle is what makes up your supply and demand zones. So you got a red base candle here. So you got a red day leading to big buy imbalance demand. You got a green day base candle leading to selling supply zone. So as long as we're reclaiming 4385, I'd feel pretty good about getting back up there. But for right now, we do need to get over that. I do feel pretty good that we're still holding this demand and we bounced off it very well. If I had to show you on the 15 minute, I mean, it was right on point. Great run up. Actually bought the dip on QQQ on Friday. We traded calls on that. I think it made at least like 20% or something. Could have made a lot more, but you know, with OPEX it gets kind of sketchy. So I kind of play conservative on the monthly options expiration dates just because it gets a little crazy. So as long as we're holding over this demand zone, markets structure overall is holding okay. But I really can't see higher, you know, than the 44.50s or the supply area. It could make a shoulder as well. Similar to what I showed you on Palantir. It could just run up, make a shoulder and then try to come back down. Just your typical head and shoulders pattern. That's why I can't see any higher than that if we were able to bounce. And then I showed you on the season ax chart, you know, there is a small little upthrust. It's nothing crazy. Just at least until the 27th. Last week we were supposed to have an upthrust for most of the week, according to the seasonality. And it actually only did it for Monday and the rest of the week did the complete opposite. So seasonality is not law or religion by anything. It's not anything you should just abide by but it's just something to note. So SPX here holding demand looks good. If it starts to break under the demand zone, that's where you start to get a little bit worried. You could maybe say that this is also a little demand area. Looks like a little rally based rally zone. So it looks pretty good. That could hold up if it were to break. But this little free space right here is where it could flush. So you just gotta be careful with that. All right, next we're going into the QQQ. So what I showed you last week was QQQ breaking its back test. So it actually back tested August 3rd and it tried to bounce there. And then once I got under the back test levels, it did exactly what SPY just did last week or the S&P 500 or SPX, whatever you wanna call it. It did the same exact thing. Just it did it first. So the QQQ broke this before SPY did. So it broke on August 8th and then the S&P just broke its back test levels here, you know, the 15th or so. So QQQ is kind of leading the way. It broke its back test level, broke its structure, had a very fast flush. It tried to hold up our 363.40s. I think this is the support zone we had marked last week. And then Monday it bounced from the general area. It didn't get exactly to 363. And then we were looking for dip buys once it got into our demand right here, which is a drop based rally zone. This is the demand zone I was looking to buy the dip at. And it looks like it just straight flushed through it. I'm pretty sure I did buy the dip right here, right around this area. I think it was on this little upthrust candle and it took profit up there. Could have made a lot more, but this was the initial demand zone reaction. That same demand zone I just showed you on the one day, had a nice little pop up and I made a little bit of money. I'm pretty sure I actually got, I tried it right here at the beginning of the zone. I got stopped out and then I actually took the loss and I went ahead and opened up a new strike and then I made some money on this pop instead. And I think it just brought me back to break even. So last week was a little rough trying to buy the dip, but there was still opportunities. As you see, had a nice little run up off the initial demand reaction. And then we just started straight flushing through it. But now on the one day, you can see even though we broke below it, it's still closed back within the demand zone and inside the structure. So that's pretty good sign that people are trying to defend it and bulls are still trying to show up. Ideally, I really can't see it past that 363.40s. So the same support zone from this little wake low over here. That's about as high as I could see it if it does bounce. If it starts getting back under this and closing under it, that's when I would start to get a little bit more worried. And that's when we start to go into the next structure. This is gonna be down here at about 348. You could probably just call 350 flat, a psychological level as well. You definitely want to stay within this area and also reclaim over 363.40s because if it can't do that, then the structures can start breaking and it'll start going down to the next level, which is just a tad bit lower at 348. So QQQ here looks pretty good for a potential bounce. Obviously, I want to see a little bit more from it. On Monday, you just want to see positivity. You want to see a nice cash open buy. You want to see just overall strength, VIX going lower, dollar also going lower. The dollar's just been on a tear lately, so we want to see VIX and dollar both going back down and also a good cash open, especially you just want to see nice buying, especially at lows like this. You want to see people urgent to buy and that'll give you good opportunities, especially when after it's sold off like this. So those are just some of the signals I'm looking for. VIX going down, DXY going down, hopefully. And I would be willing to buy the dip as long as the structure is still holding. And same thing for the SPY or the SPX. It's also still holding demand, so I'd be willing to buy the dip as well. We'll just have to see how Monday's looking. Stuff changes overnight, so our plans could change. But as long as this is holding and the SPX demand zone's holding, looks pretty good for a potential bounce or counter reversal trade. All right, next we're going into the IWM. So this has actually had a similar fate to the others. We're focused on this 189.24 back test level. I think we had this demand zone marked as well. I got rid of it because it went void, right? Once it gets under it and breaks and closes under it, that means the zone went void. I was looking for some potential bounces and just like everything else, Monday had a nice little pop at the demand zone and then the rest of the week is sold off. And I mentioned if they got under 189.24 and closed under it, that's when it would start flushing back down to the demand down here. And that's exactly what it did. And I believe I posted the first bar close under the 189.24 and then it had three days of selling following through after that. So if you ever get a chance, come to the X-Trade's Discord and you'll see a more updated version of the stuff that we go over. I post a lot of different things in there. So I sometimes lose track of how much I post in there. That's pretty much what happened. It broke the demand we were looking at, which is a little disappointing because it looked pretty good for a potential bounce, right? You got to test one, you got to test two. You had to test three hold up and then literally after the first bar or the second test bar, because this was a test and then this was also a test or at least an attempt to hold up. And then right after that, just total, you know, shit the bed. So, and then once it closed under it, that's when it seals the deal. Once you close, start closing under the back test level. That's when the flushing starts coming in, right? You had all buy in balance right here. There was no demand candles until you get right here and look exactly where it bounced. This is a drop base rally demand zone. This is your base candle and it literally ripped right off of it on Friday. It dipped a little bit lower into it, but give you a really good entry inside the demand zone, like literally directly inside of it and then literally filled the gap within one 15 minute candle. So demand zones work really good and I recommend learning them. If you go to our X-rays YouTube, I made a crash course and I go over all four sequences on supply and demand zones. Literally go check it out, it's free. So free education is good. So pretty much there's a rally based rally. There's drop base rally. Those are your two different demand zones and you got them right here. And then for supply, you got rally based drop, which is right here. And then also you have drop base drop. Let me see if I could find an example on this. I guess you could call this a drop base drop. Drop makes a base drop, something like this. That could also kind of be a supply. So yeah, it's just four different sequences. It's all supply and demand is and they're pretty easy to draw and instead of focusing on just wick lows, you're focusing on the whole base candles. But I go over that in the crash course. Go check it out. It's literally free. So it's kind of got a search on the YouTube channel. So IWM here pulling into demand. Last week, like I said, we were focused on what he did on 24. Once it broke under that, your flush zone was back down to demand and now we're at that demand. So I feel like it could get a little bounce back up to the back test level at least. And try to test the 189s, maybe 188 again and then try to make resistance about there. That's about as high as I could see it. But I do see a potential bounce here just because you have a really good demand zone right here. And then there's actually more demand under that from previous areas. So it looks pretty good for potential bounce, at least short term. I feel like there's gonna be at least one more upthrust before we start getting into September. And then September is kind of when markets start shooting the bed. It doesn't have to, but I showed you the seasonality. It's usually mid-September. Looks like the 16th is when it starts to really pick up. So you gotta be careful. So that's where IWM looking for potential bounce. It's a pretty demand stacked area. So it's pretty good for moving back up to 188 or 189. And like I said, this is not just the price target for the week. I would probably look for it over a couple weeks or so. Obviously I usually keep my expectations for the stock market pretty low. And then if it ends up hitting sooner, then fine. That's great. And it makes it feel great too. But otherwise, like I said, just don't expect too much from the market and you won't get disappointed. All right, next we're going into the VIX. So looks like we were here last Friday. So we closed back under the 1553. So I was looking for a move up in the market, which we did exactly on Monday. It just needed to get back under 1553, which it did for two days. And I should close back under that. And then when Tuesday came, it was when the selling started to pick back up. We closed right back over 1553 and the trend to the downside picked back up. So all that took was just that one close back over 1553. And that brought us all the way back to the 17s and also the 1830s. So we've had this 1830s zone marked for a little while now. We're pretty much rejected right here, August 8th. And then also rejected here on Friday. So that's the level I'm looking for next. I'm looking for a close over 1831 to signal volatility is coming back for a move up to the 20s. Otherwise, if we can get back under 17 again, kind of like where you see right here, you get a pretty gnarly close right here under 17, another big bar under 17. If we can start getting back under that, it'll probably just fill back down to 1553 and just keep staying in this 15s to 18s range for a little bit. But then if it starts breaking over the 1831 with the two arrows right here, that's where it starts to get a little bit scary. That's where you start testing the 20s, especially if it closes over that. And that's where I start to get a lot more bearish is when we start trading over the 20s. When it reaches 20, that could also be a little short-term bottom signal because we've rejected the 20s a lot. So like I said, you need to see the closes over the major levels to kind of give you the signal. Similar to what you see right here, you got a big bar that closed over 17 flat and then it literally went all the way up to 1890s. And that actually brought a gap down in the market. So it brought the market even lower. So that's why the closes over the major levels is important because that's where the velocity starts to pick up. You can see just massive velocity once it got over 17s and started closing over that. But then it ran straight into the 1830s. So that's a resistance currently. And you can just tell from this bar that the 1830s is a resistance. So I'm glad we marked this because once we got up into here, maybe not wanna chase puts or anything like that. And luckily I didn't because the market actually bounced on Friday. So I filled the gap back up and it stayed relatively resilient despite the VIX still being over the 17s. I feel like the VIX is not as concerning until it starts getting over the 20s. So my extreme levels are pretty much once it starts getting over 1550s, that's an extreme. And then once it starts getting over 20s, that's an extreme. So right now we're kind of doodling in between that. So the next level, realistically is to get over the 1830s. If it closes over that, that's your move up to 20. What I would like to see because I wanna see the market bounce this week, I feel like the risk to reward is good. So I wanna see the SPX and the S&P bounce. We wanna see it getting under 17s and just flushing back down to 1553. So that'd be great. So what I'm looking for, if it starts holding it up, holding up the 17s, not a great sign. That's still relatively elevated in terms of the short and medium term. We definitely wanna see just falling back down 17s, filling up this extreme right here back down to 1550s. So that's your levels of focus this week. 1830s needs to see it close over that in order to go higher. Or if we fall back under 17, that's a good move down to 1550s if it closes under that 17. So this is your little inflection point. So we need to see it break one of those. All right, next we're going into the DXY, the US dollar. I'm guessing we had this 103.57 area of resistance. We needed to see it get over that in order to go higher. It actually stalled out here. Stalled out on Thursday, stalled out on Friday. Also stalled out on Wednesday. So it's been chilling here since Wednesday pretty much. We need to see it get over that. If it can get over that, that's when the markets will probably start to get a little bit more spooked. Once it got over the COVID peak, that was also an area to start getting spooked. And that's where it ran up into the next resistance. So the 2020 COVID peak or 103 flat. So this little breakout right here is when the markets started to kind of get some selling. And then once it got over the 2020 COVID peak, that brought a little bit more velocity. And then we just ran straight into the 103.50s. And that's your major, major resistance. It actually topped out here in July, had a really hard sell off. I'm guessing this is from the same time as the Fed, the July Fed meeting, which is likely the case because these moves were massive. So I'm guessing that's what, this is what the dollar downside was from, probably the Fed. And now we're right back up to it. So Jackson Hole on Friday, definitely going to move the dollar. Not sure which direction, but we can assume that the dollar is kind of finding a little local top here. I feel like it could head back down to the 103s. So as long as we're rejecting this 103.50s, and as long as VIX goes back under 17, that's a good sign that the market could have a short-term bounce. That's what I would like to see. Just because the risk to reward looks pretty good. And, you know, it's not September yet. So hopefully we can get another little, you know, squeeze of some upside out of August before, you know, things start getting bad historically. Which it doesn't have to. We don't have to follow seasonality. I would love to see September up, you know, if possible, but you know, you do have to keep that in mind. People go on vacation, Wall Street goes on vacation, liquidity gets low, and they literally leave us to battle their algorithms. So you got to be careful with that. But for DXY, like I said, need to break over 103.57. If it can't do that, likely just go into the 103 flat, which is a 2020 COVID peak. If you want to see more extremes, we need to see it under the COVID peak at 103 flat. They probably just head back down to, you know, 102 or so, which is this little area right here. That would also probably meet you with the downtrend line breakout area as well. So it looks like it's trying to base out a little bit, right? I mean, it's hanging out up here. It's not going down, but it's not going up either. You probably even go to the four hour and see that's kind of trying to like make a pennant or like a little flag. So it looks good. If you're bullish on the dollar and you want to see the market go down, this could be, you know, basing out to go higher. But like I said, 103 57s showed you big resistance, having some trouble there. So have to see what it does there. Huge inflection point, that's for sure. But we guys have a great week. I'm going to get this chopped up, edited and sent out. I love you guys. Make sure you like, comment and subscribe to our Xtrees YouTube channel and I'm out.