 What is going on everybody is Stas here welcome back to another video so in this video We're gonna be doing an overall market update taking a look at the Dow Jones the S&P 500 and the Nasdaq We're going to be doing a trading update talking about what I ended up doing today on the 7th of May in Terms of my trading and we're also going to be going over my plan over these next couple of days Ahead in the stock market. What am I looking to do in terms of trading? Am I buying stocks? Am I buying the dip? We're going to be talking about that in today's video So before we do get into that guys for everybody out there that finds Valuing these videos and you want to be connected with us the community on a further basis Feel free to go down below and hit that like button and join our Strive smart Discord group chat and our Strive smart Facebook group both of those groups are 100% free of charge and I guarantee you you will find a ton of value in those communities If you're not already in there, so without further ado guys Let's get into the mayhem that happened today in the stock market guys This was probably the most insane day that I have seen here in Months guys. It's been at least six seven months since we've seen a day That was this crazy and let me get into it a bit further here We can see the SPX the S&P 500 the 500 largest publicly traded US companies ended up closing the day down $48 down about 1.65% but if we look on the one day one minute here It was actually much worse than that at one point. It was down to 28 62 Which puts the SPX down nearly 70 points at one point I believe this was down about 2.3 to 2.4 percent at the lowest of the day Absolutely unbelievable. So going over here to the Dow Jones industrial average. We ended up closing the day down 473 points down about 1.8% and just like the SPX this one was way worse at one point It was down nearly 600. I believe it was down close to 650 points at one point We can see the lowest it got to was at about was at about 25,000 789 dollars we ended up closing on a very nice little upswing here where we've recovered nearly 200 points So do the math we recovered 200 points Subtract nearly 200 points from the close and that would put us down nearly 650 to 675 points at the lowest needless to say guys Absolutely ridiculous day in terms of the Dow and the NASDAQ don't even get me started guys. This one did Terrible today down 233 points from what we can see here down 1.7% and I don't know why there it is there it is guys 7581 is the lowest that it ended up getting to and if we do the math there 345 p.m. Eastern Standard it was at 7581, which is about 90 points lower from where we are right now And that would put the NASDAQ down about 220 to 230 ish on the low of the day from where we opened Which is absolutely unbelievable guys, so You know really today was a terrible day right and for those of you guys that don't know what is happening here I went over it in yesterday's video and I'm sure 95% of you already know this But we got news on Sunday Trump sent out a tweet that he was going to raise tariffs In China pretty much right from 10% to 25% on this Friday and the market over the past couple of months of the market thought okay Trade war trade deal is coming soon. There's optimism surrounding it You know China and the US they're working towards an agreement There's going to be a deal done and pretty much when Trump said this he dropped a bombshell on the market where Okay, maybe he was kind of leading a son. Maybe they're not as close to the trade deal Maybe there isn't going to be a deal anytime soon and what this did is caused a bunch of Uncertainty in the market and what does the market hate? What does the market not like? It's one word and that word is Uncertainty guys and we saw yesterday the market plummeted the market ended up recovering a bit towards the end Actually quite a bit towards the beginning and latter half of the day yesterday Recovered very nicely actually from this gap down and we ended up getting the worst of the two days today In terms of the news it got hit harder We gap down very extremely all the way down to here 2862 at the low and in my opinion guys I think there's going to be more red to come as long as there's uncertainty with this trade war and the trade deal Right since since Trump dropped this bombshell again It created uncertainty and until we get some more Clarification some more news regarding okay Maybe we will get a trade deal done in the next couple of weeks or let's say we do get a trade deal done You know, I think there's going to just be more downside guys They'd be completely honest with you and I'm going to go over that in a bit here So SPX the technical spots to keep an eye on our 2855 old resistance from back in The 20th of March roughly here. We ended up passing that level making it a new support, right? We can see that is where we're kind of hovering right now We're about 30 points above that level and if we break that level on some further selling off Which I personally think is highly highly highly possible the next spot You're going to be keeping an eye on in terms of a support is Going to be if I bring out my handy-dandy drawing tool here is going to be at around 2810 2815 which was an old resistance from back towards the end of February and that would actually put us right at this 180 SMA Simple moving average support here on the 184 hour chart roughly at about $2,800 so that could be a level based on these technicals where the S&P 500 could potentially Sell to so keep an eye on that level and also guys as these markets Continue to fall and fall and fall if they continue to fall and fall and fall what this does is it opens up opportunities and potential long-term Plays here where you know obviously the markets are falling down That's opening up some value in some place here like Facebook Let's say for example Apple not seeing that these are valuable in terms of their valuation right now But I'm just trying to open your mind right as the markets are falling down, right? There's going to be stocks that become maybe more fair valued if they were overvalued on this big pump up or Even undervalued right even undervalued where you can get a bargain on those shares kind of like what happened back a couple of Months ago when the market fell like crazy this opened up a bunch of value in Facebook You know Apple a bunch of these big companies, you know, they were down heavily where in my opinion at this particular time period The shares were discounted based on the potential future for those companies So keep that in mind as we continue to fall down there might be if we continue to fall down There might be some interesting plays out there for a longer term. Maybe three five ten year You know play in these individual stocks So going over here to the Dow Jones industrial average just like the S&P 500 guys We're at not actually not just like the S&P because the S&P is not quite there yet But we are actually already at the 180 S&A Support for the Dow Jones industrial average so we can see we were hovering on that 26 400 support level We obviously gap down very heavily from there. We broke that level We ended up breaking the 26 200 level of support and we got all the way down to I believe we did actually bounce off The 180 S&A support earlier today before that little upswing at the close And this is the level that we need to keep an eye on You know for the Dow Jones to keep above in terms of the continuation of this uptrend So let's say we get slaughtered tomorrow and the rest of this week You know, there's going to be a high likelihood that the Dow Jones really there's a hundred percent likelihood Let's say we have a couple more red days here that the Dow will be under this 180 S&A And at that point that's a pretty critical break of support and from there You know the next levels that we're going to be looking at might be, you know, maybe 25 5 2500 which was a Resistance from back towards the beginning of February a support from back towards the end of March this level right here that I just drew out for you guys that could be the next spot We're heading to and let's say we break that level, you know, we're going to be going down maybe to $25,000 flat right maybe 24 800 these levels down here and that's pretty much it guys You know keep an eye on these upcoming support levels as and if the markets Continue to sell off and this is kind of exciting to me guys I know that people get, you know scared when the markets are falling, but me I Personally, I don't know if it's weird or something But I personally enjoy it more when the markets are falling than when the markets are going up because I love trading TV TIX which is a volatility ETF that trades and goes or that that I trade when the markets are very Volatile and going down and I tend to do very well with that and I like buying positions and long-term In my long-term account in companies that I believe in for the long term where when the stock market in general is falling There's deals that are opening up in those stocks So I kind of view this as a fun time period guys to be completely honest and I really do hope and I'm sorry if this kind Of gets you mad or whatever But I kind of do hope the market continues to fall and again I apologize if that does frustrate you that I'm saying that but drop a comment down below Let me know what you guys think about that I'm sure a lot of you can relate and I'm sure some of you might get mad at me But hey, that's that's just me being real. I'm being a hundred percent honest I like time periods where we are selling off and if you guys were in the community a couple of months ago during this time period It was a lot a lot of fun for me right and a lot of other people in the group We were having you know fun joking around in the group chat, right? We were trading these volatility ETFs buying up long-term positions It's just more, you know when times are slipping down like this when the markets are selling off It's just opening up opportunities and it just gets me and a lot of other people excited, right? That's kind of the gist of it. So the NASDAQ here NASDAQ futures again This is one that's obviously been selling off, right? We've been trading in this little channel here We broke the support of the channel and now we're looking to test the 180 simple moving average Support here, right? Just like the Dow Jones and almost like the SPX if it does sell off a bit more, you know We're at right now the 180 SMA which has been a very critical support over the past couple of months So let's say we break that level tomorrow. Let's say the sell-off continues, which again I personally think it's going to does that mean it is absolutely not I can be wrong But yes, I think it's going to continue to sell off, right? Um, at that point, you know We're going to be going to the next support which is going to be around 7,500 ish. So we sell off from the 180 SMA support next spot to keep an eye on is 7,500 if we keep that level maybe we'll recover from there But if we break even even if we break that level at that point in time guys We might free fall all the way back down to the 7,400 level maybe 73 And at that point the markets are going to be very very ugly So you guys saw in the beginning of this video or in the title of the video shall I say? Should you buy the dip right? Should you buy the dip me personally, you know I'm personally looking to buy some stocks like I said, right if the market continues to go down I'm probably going to buy some stocks, but at the level that we are at right now I'm simply waiting with cash on the sideline and in no way am I telling you to buy the dip, right? Don't just buy the dip if you think I'm going to buy the dip You have to do your research and understand what you're getting into in a volatile market like this But why I'm kind of waiting for some more clarification is because let's say we do get a trade deal Right or we do get some further clarification of what's going on in terms of this trade war with China That in my opinion is going to kind of settle the dust in the market And it's going to kind of get rid of that uncertainty shake away the uncertainty And at that point I think the markets will continue to go up because you know Other than this bad news that we got from Trump the economy is looking pretty decent, right? It's obviously not growing as it was a couple of years ago, but we got I believe record We beat expectations It wasn't record to beat it we beat expectations on GDP, right? The jobs report was pretty solid corporate earnings have been doing have been doing pretty well And these are all signs that the stock market in the economy, you know should be strong, right? So I'm not really viewing this bad news from Trump as The stock market's crashing. Oh my god. Oh my god. Oh my god I'm viewing it more as a potential buying opportunity once we get the Clarification on what's going on maybe we come to a trade deal, right at that point I'm probably if the markets are lower. Let's say we get down to this level. I really hope we do You know at that point I'm going to be buying some stocks like I did back during this time period So that's kind of the answer to the title of this video and my whole take on the on the market right now I'm just being patient. I have cash on the sidelines, right? And I just want to get some further Clarification so in terms of what I did today in terms of my trading guys It was a pretty crazy day to be quite honest with you And I did very well way better than I usually do in terms of my trading Although I did end up cutting out of one position and that position was Google I ended up selling out of Google just to play it safe on potential further downside I didn't want to have a heavy weight You know in these tech stocks because I'm already in Facebook, right? I'm holding Facebook and you may be asking yourself You know, why are you cutting Google? But you're not cutting Facebook and the honest idea You know behind that is because not really a technical thing here But in terms of Google's earnings their earnings weren't as good as Facebook so I kind of want to keep my position in Facebook due to the You know due to the earnings that they had it was more positive than Google and who knows guys This could end up dumping Google stock. I'm not saying it's going to but I just wanted to Really just get rid of one of these tech swing trades that I had so I'm not too heavy in you know These tech stocks you guys might think that's stupid, but I'm being honest with you. That is what I ended up doing today, right? So I ended up just cutting out of my Google position. I'm keeping my Facebook shares here I'm in at about 193 looking to average, you know in potentially if the market, you know Does end up bouncing back in a couple days weeks We'll see what ends up happening there and I'm still in Procter and gamble right Procter and gamble is one that I'm currently in simply holding the shares here on Procter and gambles So not much crazy movement in terms of my swings, but where it gets interesting guys where it gets interesting is TV I X oh my goodness guys TV I X the good old Volatility ETF that we play this one when I say it went bananas I'm not kidding guys. Did it go up 10%? No 20%? No 30% No, it went up nearly 4040 0% in one day Absolutely killer move here in terms of TV I X guys take a look at that. It almost hit $30 per share. Oh my goodness guys from the close yesterday at 30 or $21 All the way up to nearly $30 per share That is one hell of a move in one day in terms of TV I X and pretty much guys I was scalping this one all day. I didn't get in it in the morning quite yet But I did get in on this pullback here Scalped it up for a couple percentage points pulled back, right? I was watching the SMP and TV I X very closely I was noticing the SMP was selling off aggressively lower lows lower highs all of that jazz I just kept scalping and scalping and scalping and I don't know exactly how much in terms of percent I made but it blew my 1.5 to 2% target out of the water Let's just be quite honest with that guys because you know when I'm day trading 1 to 2% is what I'm typically taking But when an ETF is going up 40% in a day, right? It's kind of hard to just take only 1 to 2% right so I do believe all of my scalp trades I got anywhere from between, you know, 10 to 12% today in TV I X Which isn't honestly that crazy because again 40% is what it moved nearly And me getting 10% is really just a fourth of what it ended up moving and the whole entire idea of day trading Here is to capture not the whole move but to capture some of the move and for me to get 10% I captured some of the move and to say that just boggles my mind But it's the complete truth right because this one had a crazy crazy day So let me know down below in the comment section. What did you guys end up doing? Did you trade TV I X? Are you buying the dip? Are you waiting for some more clarification on the trade deal Trump? You know, whatever. Are you just just waiting in cash? Like you think this is the stock market correction that we need to see again I would love to know what you guys have to think so in terms of my plans guys that kind of already went over it I'm mostly cash right now Not looking to buy up any stocks or any new swing positions quite yet because I'm not looking to have a Red, you know a new red swing position when the markets are falling because I'm already in Facebook I'm pretty not extremely red on that one. I am red on it though. I'm in PG not red on that one I'm actually slightly green I cut out of Google and I'm just simply waiting for the markets to find the bottom some Clarification may be a trade deal before I get into new swing Positions, but what am I going to be doing in terms of my trading? I'm mostly going to be watching this one. You're seeing right here TV IX for scalp plays throughout the day That's just the complete truth guys I'm not this is literally like my moneymaker if the markets continue to fall This is going to be what I'm trading day in and day out very similar to this time period back from October to December of 2018 I was pretty much trading this one. It felt like every day It wasn't every day, but it was most of the days throughout the week I was in and out of this one and that's exactly what I'm looking to do if the markets continue to sell off I'm not on I'm really not looking to trade anything else to be completely honest with you guys I'm sure there'll be some moves that open up. Maybe some short-term day trades in these large caps But if my Theory of the market continuing to sell off plays through right if that actually happens You know, this is going to be a moneymaker and I guarantee you guys that if let's say the market falls another 500 points tomorrow this one could be in the mid 30s tomorrow who knows guys So TV IX is the number one that I'm watching actually I lied one that I may be watching is gold here guys gold May have a rally here We saw double bottom just keep an eye on the break above the 180 simple moving average here You know Jnug could be a potential play if we do see that bull push that bull You know breakout pattern to the top that could be a very good play for tomorrow But all in all guys, that's it for today's video staying in cash waiting for some Clarification are we coming to a trade deal on Friday? Are these tariffs going to pop up right? Are the tariffs going to go into effect which could you know slaughter the market even more who knows guys But mostly cash, I would love to know what you guys are doing. Let me know down below in the comment section So if you enjoyed this video feel free to drop a like leave a comment again Like I just said subscribe to the channel if you're new hit that notification bell So you're notified every time that I do make a video Excuse me feel free to join our strive smart discord group chat our strive smart Facebook group both of those are linked Excuse me again down below in the comment or the description box rather I'll catch you all in those groups if you want to chat feel free to shoot me a DM on Instagram all that good stuff I'll catch you all in the next video. Good luck tomorrow. I hope you all did great today. Peace out