 What is going on everybody it stops here welcome back to another video and it feels great guys to finally be back in The United States filming these videos. It's been a while. It's honestly been a while if I'm a little bit rusty today I'm sorry guys, but in today's video I'm going to be breaking down the markets the Nasdaq the S&P the Dow Jones kind of my thoughts heading into this week What I'm planning on trading and just a couple of things that have been going on that have been really swaying The stock market and pumping a lot of fear into investors and traders Mines over these past couple of weeks So if you enjoyed this video feel free to go down below hit that like button drop a comment Let me know your thoughts throughout this video. What do you guys think about the markets? What are you planning on doing this upcoming week? and if you guys want me to talk about any specific stocks or ETFs and Tomorrow's video on Sunday's video where I kind of go over stocks that I'm watching and I take requests from you feel free to go down below Comment those go to the discord chat put them in the call-out section and I'll get to them So guys the markets have been ridiculously volatile I'm sure a lot of you guys already know this if you've been out of the loop Let me show you guys what has been going on here starting off with the S&P 500 So let's go to the 20-day one hour because a couple of weeks ago is where this madness started to begin If we look here, you know towards the end of July everything was going great, right? Everything was going great leading up to that rate cut that we all were expecting We weren't 100% sure that we were going to get it, but we were like 80% sure, right? We got the rate cut we got that 10% Tariff on 300 billion dollars worth of Chinese goods and the market dropped guys We all know whenever there's tensions in the trade war whenever there's public tensions either on Twitter The media blasts it to everybody it pumps a lot of panic into investors and into traders and you guys can clearly see When that occurred, I think this day on the 31st of July is when we got that Rate cut the market sold the news, right? I was kind of expecting that we talked about that in a couple of weeks ago In the videos back in July then the market popped up next day and boom We got that 10% tariff on 300 billion dollars worth of goods You know in China and the markets went down guys take a look at this red candlestick This is pure panic right here We dumped from three thousand and nine dollars all the way down to about 29 52 and that pretty much sent the market You know into mayhem over the next couple of days it dumped the next day August 2nd August 5th We kind of found a bottom here at about 2820 to about 2850 we popped up a bit You know every time the markets sell off aggressively, you know There's going to be a point in time where it sees a breather right it comes back and that's what we saw here We saw a bit of a breather and we got the news actually that the tariffs were going to be delayed from September 1st Which is the the 10% that was supposed to go into effect on September 1st We got the delay to about December 15th And let me tell you guys very quickly what those tariffs were originally supposed to be on so they were supposed to be on toys Clothing shoes electronics including iPhones and yeah I have it on my notes here September 1st was the date that that was supposed to go into action It got delayed all the way to December 15th, which is a which is pretty good a short-term relief But again, it's not the tariffs are still going to go into effect right if December 15th comes There's no deal in place, which honestly at this point I doubt there'll be a deer a deal in place the markets are going to go crazy again once those tariffs hit So I think this might have been the day or this day, you know when that The tariffs got pushed back the markets took that very positively I think the Dow was up like 500 points that day and then we popped up We saw a bit of a resistance here at 29 30 from the 8th of August you guys can see we hit 29 30 roughly on the 13th of August we hit that same level we dumped heavily from there as the I think this is the day the yield curve Inverted again guys, and if you guys don't know what the yield curve is the inverted yield curve Take a look here investors are spooked by a scenario known as the inverted yield curve Which occurs when the interest rates on short-term bonds are higher than the interest rates paid by long-term bonds What it means is that people are so worried about the near-term future that they are piling into safer Long-term investments, right? So on Wednesday, let me just pull up my notes again here guys on Wednesday We saw the 10-year US Treasury note on Wednesday Briefly traded below the two-year note marking an inverted yield curve And this is known as a lagging indicator guys meaning that when the when the yield curve inverts You know, we're not going to be in a recession the next day, right? What it usually does is when the yield curve inverts is it says there's a recession coming in the next coming month Could be a year or two years, right previously in 2008 when the US When the yield curve inverted the markets actually saw a recession about I think it was like 2022-24 months after the yield curve inverted. That's why it's known as a lagging indicator So now that it's inverting again, you know, this could be sending us signals that we might be in a recession in 12 months 15 months 20 months and that's why you know the markets are dumping That's why there's a lot of fear because this indicator this lagging indicator is very very accurate in predicting the Recessions, you know in the US economy So that is stirring up a lot of paranoia a lot of panic and a lot of fear in the markets As of right now guys and in my opinion, I honestly think truly guys that the markets are going to continue to be volatile They're going to continue to fall in the short term here in the next two three months You know as we do get closer to the November December months if those tariffs go in place I just think there's going to be a lot of mayhem But when there's mayhem guys There's a lot of long-term buying opportunities and you guys know if you've been following the channel for a while I'm a long-term investor as well as a swing trader and a day trader at times, too So when we're dropping a lot of volatility, I like trading volatility ETFs like TVX UVXY market ETFs like SQQQ and TQQQ and I take those profits as the markets are falling And I load them into companies that I believe in long-term and I like to hold those companies as long-term Investments right that's kind of my strategy and I'm sure a lot of you guys You know really do similar things there. So let's just look very quickly now at some more resistance and support levels on the S&P so you see 2950 is a clear resistance again We kind of got top there double top at about 2930 to 2940 a good sign that I am seeing here is 2840 ish Excuse me 2830 roughly. We saw a double bottom there. So for more selling to come We need to see that technical break below 29 or rather 2840 and if we do break that level guys, you know, we could be going down to take a look here 2810 We see 2810 was a resistance back in February of 2019. It was a support back in May It was yeah, that's pretty much it right support back in May resistance back in February if we break that point where we double bottom This is a very likely is very likely that we go to about 2810 and if we break 2810 guys That's going to be very very ugly in my opinion. We may be going down to 2735 you guys can see 2735 2740 that was a resistance back in February as well in the beginning of February we broke out of that level making it a new support We actually retested that level back in the beginning of June before hitting all-time highs and yeah guys That's pretty much it right. We break down these levels. We break into 2700. That's where I'm going to be looking 2737 and let's go quickly the one year one day so we can see if I'm missing any spots here, you know Take a look here guys, you know, we may be going down again 2730 if we break 2730 That's going to be quite ugly at that point guys we may be going down to 2640 and this this is like worst-case scenario right in my opinion worst-case scenario we we thrashed through these levels We start to break down into 2600 2500 2400 and maybe see a repeat of the past December right you guys remember from October to December of 2018 this was a point in time when the markets were getting murdered, right? This is a point in time where I was actually buying up a lot of stocks that I believe in long term And I made a lot of money on those stocks right 20 30 40 percent in some of those positions So let's take a look quickly here at the Dow Jones industrial average It's kind of in a similar spot if we go to the 184 hour chart very quickly you can see here We did find a support Right around 25400 which actually was an old resistance back in February We broke out of that making it a new support. We double bottom there back in March to about April That's a very good sign. We popped up We double bottomed again before breaking it back in May, right? And then we hit those all-time highs and now we're starting to break below You know the $26,000 level as you guys can clearly see we're trending right at the resistance under 25800 if we get rejected there this upcoming week we start to fall down. I'm looking at 25400 to retest again, and if we break that guys again, it's a very critical support We may be going down to let's say this level right here, and you guys can clearly see that's about $24,700 and if we go to the trend line tool very quickly That's a probably a couple percent drop from that break right there. That would be a three percent break Or drop rather if we were to break 25400 and go all the way down to 24,700 which again guys with the turmoil in the markets right now I think that's very possible here in the short term in the next month two months three months And if that does end up happening, I'm going to be trading these volatile ETFs What's it called the ones that trade on the VIX like TV IX like I talked about a couple of minutes ago And I'm going to take those profits and funnel them into long-term positions that I believe in so Dow Jones That's what I'm looking at right now really that 24,700 level is strong and especially that 25,500 level Extremely strong here on the Dow Jones and if we go to the tech heavy Nasdaq guys the tech heavy Nasdaq take a look at this one right now you guys can see based on this trend line 7,500 ish is a very strong support right now you guys can see it was a resistance back in March It was a resistance back in May and it was a resistance back in June That's three different spots where it was a resistance and when we broke that level to the upside That's when we hit that all-time high at about 8 8,051 and now that we broke down we broke that 7,500 level as a support, right? It's a new support That's a very technical break. We are a very key technical break there We sold off all the way to 7,200 we shaved about 910 percent off the Nasdaq in the month This was like a couple weeks ago right from from the end of July pretty much You know five six days 10% shave off there and then we popped up above the resistance 7,500 We we we successfully held it on the 13th as a support. We popped up to a high or high We were trying right we were trying to reverse and break out, but we got hit by that 180 SMA resistance We dumped we kind of held 7,500 again as a support Which is a good sign and now we're kind of trading here at a lower high from the previous And we're still technically in a descending pattern right here Right you guys can see it high here lower high and this could be a lower high if we do end up dumping So this upcoming week guys I'm watching 7,500 right and if we go to the drawing tools again take a look at this You know some of these other levels that I'm going to be watching here are going to be 7,430 You guys can see we held that level this past week If we break that level another key spot here is going to be at around 7,300 We we held that as a support back in March We held that as a support in the beginning of May and we again We sold off to that level a couple of weeks ago really about 12 days ago at this point on the 5th of August So watch that level guys very critical here on the NASDAQ and things to get ugly guys Right we know that when the markets are getting hit when the markets are volatile Typically tech stocks take the biggest hits and the NASDAQ being a tech heavy index Usually goes down the most out of the three indexes that we track on this channel Which are the NASDAQ right the S&P and the Dow Jones industrial average So that's pretty much it in terms of the markets guys inverted yield curve trade war tensions global economy Slowing down all these crazy things are going on. I expect a lot of volatility here in the markets coming up So let's quickly take a look at gold as the markets are volatile gold has been climbing and climbing and climbing Right and if you guys watch my video, I think it was like a month or two ago at this point We talked about this level on gold a long-term resistance on gold if we can get it here I think it's on the 20 year one month chart. It's at about 1550 right We literally talked about this level if you guys remember a drop a comment down below But gold when it was trading at 1420 ish when we were breaking out of that resistance here I was saying, you know, we could fill this gap right up to 1530 Which happens to be an old support now a new resistance Especially if the markets get more volatile and the markets got volatile people view gold as a safe haven, right? Although I don't really view it as an investment. I really view it as a hedge Against, you know the dollar the economy when things are going crazy. I kind of view it as a hedge and people I've been flooding to gold. It's clearly obvious here, right? The price has been going up up up and at this point we're at that resistance, right? We I think we almost got to 1550 I don't know if we got there exactly and we did take a look guys really it's 1546 pretty much 1550 We got hit there. We're consolidating at about 1515, which is a strong support here on gold So I'd be heavily watching gold right now, you know, if we break 1550, right if we break 1550 guys, you know Based on previous prices here, you know, I can't really seem to determine a sort of resistance here, but Mmm, maybe like 1700 that would be pretty crazy if gold did get to 1700 but take a look guys, you know, that is really the potential in gold right now You know, if we break 1500 hold 1550 hold that as a new support we can really be filling the gap up to 1700 and in times like this you may be looking at the RSI. Oh my god It's over but you know when in times like this guys, you know when the markets are volatile when the news is Really pumping panic into Investors and traders a lot of these indicators go out the window, right? It doesn't really matter if the RSI is overbought oversold, right? You know, I'm sure the RSI on the S&P was extremely oversold in this circumstance or in this instance here Right when we dumped. I'm sure the RSI you guys can clearly see it was very oversold right does that mean since the RSI is oversold you buy the dip of course not right when the markets are in panic mode when There's trade wars inverted yield curve all these different things Indicators go out the window guys, right? You know we dumped the next day the next day the next day although the RSI was extremely oversold so That's pretty much it guys, you know in tomorrow's video I'm going to be talking a bit more in-depth on what I'm personally looking to trade But just to sum it up very quickly here for you guys these market ETFs are what I'm looking to trade this week TV Ix if you guys have been following me on Instagram go follow me there at stock surface I've been posting some profits on Instagram. I've been trading this one like crazy, right? This is a volatility ETF It goes up whenever the VIX is going up whenever the markets are dropping when the markets are very volatile I've been trading that SQQQ which goes up whenever the NASDAQ is selling off at a 3x rate I've been trading this one as well and I see a lot of opportunity in these especially since Friday yesterday We had a green day, right? We had another one of those Excuse me green days where you know the markets kind of needed a breather. So let's say if we dump again Monday Tuesday these have a profit open right a window of profit open right now where we can really capitalize if the markets continue to dump so that's pretty much it for this video guys if you enjoyed it Feel free to go down below hit that like button consider subscribing if you want to see further content for me And don't forget to drop a comment down below on any stock CTF So you guys want me to talk about in tomorrow's video and if you guys want to join the discord group chat Facebook group All of those are 100% free link down below as well as my Instagram and Twitter if you want to be further connected So I'll catch you all in the next video. I appreciate all of you taking your time to watch this as always I love you guys peace out