 What is going on everybody is Stas 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 personally did today on the 19th of July in 2019 in terms of my trades as well as taking a look at my watch list here taking a look at some stocks And as you guys can see from a quick glance my watch list is very red guys in the markets today We're red we'll get into that my personal opinion on that in a couple of minutes here But before we do actually get started with today's video for everybody out there that finds value in these videos all I ask from you is to go down below and hit that like button It really supports me and supports the channel in general and if you want to be further connected with our Communities the Stryvespart Facebook group and the Stryvesmart discord group those are linked down below in the description Box so guys today was an absolute roller coaster, right? We got a potential hint this morning that the markets could be green We gapped up But you can see on the SPX on this five-day five-minute chart that that didn't last long We dumped ended up closing down 18 dollars and 50 cents at the close down point six two Percent the Dow Jones industrial average today guys got hit not as hard But still ended up closing red down nearly 70 points down point two five percent and the Nasdaq here guys got Absolutely slaughtered and it is still falling here or rather it fell really for another hour after the market closed As you guys can see in terms of this future here and right now. It's down a hundred and thirteen points down 1.43 Percent so today was an absolute onslaught guys in terms of this market and the pullbacks now They're starting to look a bit scarier and let's get into some technicals revolving or involving these pullbacks And I'll talk to you guys about my opinion starting off here with the S&P 500 So one pattern that I want to point out here that is kind of reminding me of a pattern that we saw a couple of weeks ago But on a smaller scale is this head and shoulders pattern that we're seeing here on the S&P 500 And let me explain what I mean by this head and shoulders pattern on the 20-day one-hour chart You guys can kind of see it here It's pretty obvious and pretty evident the way that this head and shoulders pattern is formed here Rather it has formed right you guys can see the left shoulder is here at about 29.95 We got a pop a pullback another pop and another pullback making that left shoulder And then when we broke out of that 29.95 level of resistance we held it as a new support We went on that rally for all-time highs and then we pulled back drastically That formed the head of the pattern and now we got one pop-up day on the 18th which was yesterday And today we gapped up again and a lot of us were thinking I was thinking okay We may actually rally from here but we actually failed to hold 3000 which I've been preaching on this channel Is a very significant level here that 29.95 to 3000 spot we failed to hold it We actually got rejected by that 50 SMA on the 20-day one-hour chart And you guys can see how heavily we dumped from there forming that right shoulder Right and let me explain what I'm talking about here And for those of you all that were watching the channel a couple of months ago before we actually saw the full-on dump We were calling a head and shoulders pattern here and let me just really zoom in on this And drop a comment down below if you actually remember this if you watch the videos Back during this time period. I was talking about the head and shoulders pattern But it was actually stretched out a bit longer about a month a month and a half You know time frame here as you guys can see but all in all it was a left shoulder We popped for the head. We were hitting those all-time highs here and we pulled back We popped again. We failed to get above that 50 SMA which honestly would have been a breakout spot And then we sold off all the way down to 27 22 And this was actually the month that we sold off that bigger sell-off in the month of May I know you guys remember that that was literally about 45 to 60 days ago when we dumped when we dumped this far down So this is um, you know reminding me of this pattern that we sold off that Um, you know sold off on in the past couple of months this pattern that we're seeing right now So what I would like to see for a potential sell-off like maybe this one I'm not sure if it's going to be this drastic But what this pattern is showing me is that we might be seeing a sell-off here Especially if we dump below this 50 SMA and 29 75 and 29 75 guys is a very key level as well Like we talked about in yesterday's video We actually held that level above the 50 SMA yesterday and the fact that we are holding that Today gives me some hope that we could bounce on top of that and maybe get out of this head and shoulders pattern But if we break this level and get down to 29 50 29 100 You know, this head and shoulders pattern is going to be pushing us down to the point where it's going to be looking Very similar to this when we dumped and started to push down, right? So if we do break guys, you know, we may be pulling back and seeing a correction Maybe down to 29 100, which is the 180 SMA or we may be pulling down all the way to 28 100 again Which would be quite the sizable correction That would be in my opinion a very healthy Healthy correction in the s&p since the s&p has been running so much in the past month and a half guys So in my opinion if we did pull down to 28 100, that would be quite the healthy pullback and down from there You know that at that point if we went below 28 100 and we went to 27 30 That would be a very very big pullback I don't know if we're going to pull back that much, but if we did and we broke 27 100 That's going to be a point in time where it's going to look very similar to the December pullback that we experienced A couple months back and I know a lot of you guys remember how bloody those days were So let's not get ahead of ourselves though. Let's see it and take it day by day Let's see if it breaks these support levels before we talk about these ones But overall that is what i'm looking at right now on the s&p 500 guys It is not looking too good And especially if we break those moving averages that I talked about so the dow jones industrial average You're seeing a similar pattern here, right? You're seeing a resistance at about 27 400 Dollars is this is actually a double top and if we go out to the 184 hour you guys can see We're actually still trending above this little trend line that I have here That's one positive thing about this pattern But again the double top is a negative a double top usually points us to Thinking there there could be a drop here double top means it's it's the top of a pattern And we may be seeing a bearish move from there just like a double bottom is a bullish move if we pop You know upwards from that so a couple of levels I'm watching here on the dow are the 50 sma and this trend line that I have drawn out here on the 184 hour chart So again, this did an experience as much of a pullback as the spx So the technicals weren't as much affected But they did drop and we are starting to see a bit of a bearish tendency here Um, you know, especially if we do gap down even more this upcoming week But taking a look at some other time frames, you know again the 20 day one hour You can see we're technically at a higher low right now from the previous or the uptrend Is intact still if we're talking technically right now on the 10 day 30 minute You guys can see the 180 sma is a strong support if we break that that's going to be a very very bearish sign There and if we take a look at the five day five minute You guys can already see that we are starting to show Some bearish moves here the 50 sma is about to cross below the 180 sma The green line is about to cross below the yellow line, which is a very bearish move We're starting to see the candlesticks are dumping below the moving average supports that once were supports Now they're looking like resistances So these are a couple of sides that are pointing me towards Believing we might have some more red here coming up guys and on the nasdaq Let's take a look at how bad this is looking on the five day five minute. It's a clear descending pattern right moving averages They're acting as resistances. We're making lower lows. We're making lower highs guys If we take a look at the 10 day 30 you guys can see the kind of uh, you know descending pattern here It's not really a double top in a sense It's kind of a head and shoulders as well left shoulder head when we hit that $8,000 all time high And then the right shoulder now that we're dumping very very very aggressively and on the smaller time frame right here You can see 7800 is a support So i'm interested in seeing our buyers going to come in here, especially since we're over Sold here that could be something interesting to see if people start to buy this big old dip here If we go back to the 20 day one hour or to the 20 day one hour rather You can see we did break the 180 estimate support. We broke this trend line of this You know uptrend here, but we're about to test again that 7800 level ought to be interested to see if people buy up this dip So going back to the 180 or to the 180 I don't know why I keep saying back because we were never at the 180 But now that we're at the 180, let's take a look at this and you can see it more evident here guys We were uptrending higher highs higher lows. We hit 8,000 We failed to pop here to break out to make another higher high Which which would have been the continuation of the uptrend. We failed to do that. We actually got hit We're looking like we're making that head and shoulder pattern. It's looking like a double top as well And now we're dumping so again guys 7800. I'm looking at that level if we're taking a look at the 184 hour in Perspective here, you know in general, you know this 180 SMA this yellow line That's a strong support here as well. Take a look at that You know be sure that you know and understand that if we break that level That's going to be very very bad for the nasdaq. That's going to be a very big technical break And from there, we could in my opinion expect more red Potentially, so that's the overall market update for today A lot of things started to get ugly today. Let me know down below in the comment section What do you guys think about this? I would love to know Let me know what are your thoughts on the market at this particular time period I love talking you guys on in the comments and I respond to every single one of you guys And that's pretty much it. So let's talk about very quickly now A trading update and i'm sure you guys can probably guess it The nasdaq today did awful like we just talked about a minute ago And what does well when the nasdaq is selling off like I talk about a lot on this channel? That is sqqq guys an sqqq was a straight breakout move today pretty much for the entire day And you guys can see it right here a couple of days ago. We hit $31 We popped up as the market sold off the markets started to rebound a bit Which you guys saw as we saw the gap up this morning that brought down You know sqqq here and then we got the double bottom and the breakout as the nasdaq was selling off Very aggressively like we just talked about right and that start uh the sell-off on the nasdaq actually started at about Really 750 am actually more towards like, you know 440 am 5 o'clock am eastern standard if we're really taking a look at when it started this morning in terms of the futures And you guys can really see that right we we gapped up to 79 72 sold off lower low Popped up lower high sold off and started to slip aggressively as the markets opened And we just continuously made lower lows and lower highs and really the premise of my trade here was As we popped up started to test the 50 s to may to see if we were going to break out of there and recover This is very similar to my trade yesterday You know the fact that we didn't break out and recover the fact that we got rejected again and dumped aggressively This gave me the go on putting a position a smaller start out position in s qqq And you guys can see it even better on the one day one minute right pretty much from 330 am 4 am 5 am eastern standard time You know we were falling falling falling and I pretty much just caught it on the pop We didn't break out we got in s qqq as it continued the downtrend And i'm not sure it no it wasn't this exact Drop here because this was at 11 am i actually got in this more towards the market open So we gapped up you guys can see this is actually when i got in i believe we popped up We tested that 180 s to may yupp at about 10 a.m This sounds right at at 10 a.m You guys can see we started to get rejected at that 180 s to may here on the uh The one day one minute we didn't break out We didn't break out of there to bullish to make a bullish move a bullish pattern We got rejected we dumped which gave me the go on s qqq so s qqq you guys can see at about 10 o'clock We were pulling back a little bit. We didn't fully break out yet But we were breaking out of the 180 s to may which is very good sign of the start of a breakout We pulled back we touched it and then we broke out and that is when I took the position guys literally at around 10 a.m Eastern standard and I wrote it up to about I think once it started dumping here into the 32s lower 32s because I held it up here It was a bit overbought. I was being a bit greedy here to be honest guys I didn't want to um take the profits. I thought it was going to continue to pop up But we got that pulled back and that's when I actually uh ended up selling out of the position So from about 31 75 up to about 32 dollars and three cents It was under a 1 trade. It was about a point nine percent trade and sure if I were to hold or if I were to uh You know not sell at that point. Let's say I held it for the rest of the day I would have been up like five percent four or five percent But the name of the game in my opinion guys is to be consistent Lock in a small profit whatever it may be point five percent point two point three point six Whatever it may be lock that in and be consistent with that in my opinion It's way better to lock in a smaller profit consistently than it is to chase and maybe get a five percent profit one day The next day you chase again Then you get caught in a red trade you lose three percent and then you try to chase again And that's just a very um, you know bad cycle to get in and trust me I've been in that cycle before and I've learned from it and now I've adopted this strategy of just being way more conservative And way more consistent and not trying to just chase all these trades, right? So that's kind of um a little You know side note there a little side tangent But I do think that is valuable especially to the beginners out there that may be watching this video So let's talk about a couple of stocks very quickly on my watch list I'm not going to break them down too in-depth here because I don't want the video to be too long And by the way, if you guys actually want me to talk about a stock or an ETF in sunday's video any uh Any particular stock whatever the ticker symbol may be drop a comment down below Let me know and I'll get to it in sunday's video But a couple that I wanted to talk about today Very quickly. Let's just run through the watch list. Uh gold Gold didn't make much of a move today. We actually hit a high of 1454 And you guys can see we're down about a buck 60 right now down about 0.11 percent The interesting thing on gold right now is we're actually trending above the old resistance Which is now a new support at around 1425 and you guys can see how that's been a resistance And once we broke out that is really been a bullish move that I think and I talked about in yesterday's video This could get us to a potential 1500 per ounce gold 1550 based on some longer term technicals But before we do get to that, you know, and I talked about this in yesterday's video We may be seeing some fluctuation in gold's price. We may be pulling back and today We actually did get that pulled back and now this could open up an interesting entry point on jnug I believe if we do hold this as a new support And then continue to pop up and potentially fill up to 1500 dollars or 1550 and let me show you guys That 1500 1550 spot that i'm talking about because you may be thinking i'm crazy The fact that we broke out of 1412 it pretty much entered us into a new channel where gold's next resistance is 1550 so that's what i'm talking about here on a technical basis That is a spot we could definitely fill in right we could definitely fill that up So gold that is what i'm looking at. Um, you know gold jnug These are going to be very very good if the markets continue to drop guys You know in my opinion if the markets drop things start to get volatile People might be pumping in money into gold because it's considered a safe haven and opportunities might also open up In sqqqq which we talked about again, you know, this goes up whenever the nasdaq is selling off So if this continues if the nasdaq continues to fall this could be a very good play, right? And the other one is the spxs which goes up whenever the s and p the spx Falls right so you have options here. You can trade ETFs that trade on the nasdaq You can trade ETFs that trade on the spx, right? You have a lot of options and there's a lot more than just these ones that I talk about These are just the ones that I personally like so do your research guys You know, there's a bunch of other ones out there that are worth taking a look at but for me. I'm watching sqqq I'm watching spxs and if things get volatile you guys saw the vixx was up nearly a dollar today You know tvi x is going to be one that i'm watching which is a volatility ETF it goes up typically when the markets are selling off heavily and whenever that, you know, the markets are volatile Right watch the vixx here. The vixx does well, you know tvi x typically does well and i'm not sure why 1.69 percent It must have opened on the gap down, right? Yep. That's what i'm thinking it opened on a gap down to 14 dollars And it did make a pretty massive move of about 8 but it only registered as 1.69 percent due to that gap down So that makes sense. Okay, so tvi x That's definitely one that i'm going to be watching here, you know microsoft Let's just run through some tech tech did pretty poorly today. Although microsoft Did do well and hit an all-time high this morning, but microsoft's on the pullback I'm watching that one. You know apple apple was down three dollars today 1.5 percent That's a sizable pullback amazon down 0.7 percent. That's a pretty good pullback as well This seems like it could be a temporary top here on amazon Facebook down two dollars and 42 cents. This could be a temporary top as well We hit those resistances at about 200 205 dollars that we struggled to get above a couple of months ago I know you guys remember that when we hit the earnings report and we hit that very good Stride there in facebook stock google was down 16 dollars today This one's still struggling guys compared to all the other You know fang stocks tech stocks the big stocks out there Google's actually doing pretty poorly compared to those and of course Netflix dropped another 10 dollars today guys 3.11 percent So we may be seeing netflix here dumping into a 200 dollar territory Let me know what you guys think about netflix stock actually let me know down below I would love to know so that's pretty much it for today's video guys If you enjoyed the video feel free to go down below and hit that like button It really supports me and supports the channel in general leave a comment down below Let me know what stocks you want me to talk about what ETFs you want me to talk about What do you think about the market? What stocks are you watching? I would love to know and subscribe to the channel if you haven't done so already hit that notification bell Join our strife smart discord group chat and our strife smart facebook group All of those links are down below in the description box. So I hope you all did well today I hope you all have a great weekend. I appreciate you taking your time to watch this video It does mean a lot to me. I'll catch you all in the next video. Peace out