 Hey, what's up guys, this is Alex from Xtrades back to you with another weekly trade ideas list. I hope everybody had a wonderful weekend. I just got to chill out a little bit, got to rest my brain, ready to rock for next week. If you weren't tuning in last week, we did have some new stuff come in. The market finally was able to get some relief from the debt ceiling issue. They were able to finally avoid default and buy and sign the bill into action. Another thing we have is the non-farm payrolls that came out. So we did add 339,000 new payrolls, almost double the consensus. Unemployment rate also ticked up just a little bit to 3.7% kind of a mixed signal. So it was a little confusing, but market liked it. I feel like they liked the fact that despite interest rates going up, people are still getting jobs, economies doing okay, kind of giving that soft landing narrative. But this week, let's go ahead and get into the economic calendar. You can see we have S&PUS services, PMI, and also ISM services and also factory orders. So I'd say Monday is probably the biggest data set we have. It's not very stacked this week. Last week, we had a little bit more data and we had a little bit more event risk this week, not so much until the CPI next week. Tuesday, June 6th, we have none scheduled. Wednesday, June 7th, we have the US trade deficit and consumer credit. Thursday, just the usual initial jobless claims and wholesale inventories. So not too much data this week. Might be a little bit quiet on that front, but hopefully we can find some volatility in the market, get some range, because I feel like it's felt a little bit slow, even though we've been going up, it's just been kind of melting up. So VIX is hitting new lows and you know, it just feels kind of slow. So hoping we can get some range next week and maybe get a little bit more volatility. All right. And for the setups this week, I do have four to go over. So last week, I feel like the setups weren't the best. Honestly, I feel like TLT, the bonds did okay. They rallied up one or two percent. You could have made some money on calls there. Target dipped below 52 week lows and it did break that major support that we were looking at. So it was kind of like a risk off, but now it's starting to bounce a little bit. So I feel like if they could reclaim, you know, it could be a good trade still. It's probably a better long term trade or like a couple of months out of swing, just because we are at those 52 week lows and it might need some time to recover. And then another one we had last week was also Oracle. It did not reject really heavily off that all-time high resistance that I was looking for. So that kind of made its way into the list again. It's kind of unchanged. It really didn't do much, but I still like the setup. So we'll just go over it again and reiterate that. But our first one here, we're looking at Roku. So for longs, I feel like this is probably the best looking one. I really couldn't find too many longs on tech or anything that was overextended that I like to the upside. But Roku here, you can see it's breaking out of this downtrend. Got to test one, test two, test three, and finally broke out to the upside. So I was able to confirm two candles outside the breakout. If you look to the left here, we don't have any supply candles or any base candles for supply until probably like this little small area, that little 6473 area is a small little supply area. It's not really big. It's a small base candle. But in this area, there is no apply candles. So this is all cell imbalance. And I could feel back up and head up to the 6465 area. So it looks pretty good. Really not much resistance or anything over here until you get up to here. So I feel like this looks a little bit more favorable to the upside, assuming that the market can take up and continue its run, I'm guessing that the NASDAQ would have to keep running for this thing to run. But you never know, because Roku is kind of a high growth name. And it kind of has a mind of its own. So it can run with other high growth names, even though, you know, tech could stay flat or go red, high growth names can still run up as people are looking for high beta names, while volatility is a little bit lower, and the regular indexes aren't moving as much. So you can consider Roku kind of like a high beta name. Another high beta name would be like, you know, UPST, the ARC ETF, that's kind of a high beta name. It's got a lot of exposure to Tesla and other high growth names that really aren't profitable. I mean, Tesla is profitable, but ARC does have a lot of high growth names that aren't even turning a profit. So they kind of rely on the future and hoping for future profitability. And that's kind of what people bank on. And that's why you see higher volatility in those high beta names. So Roku here looking pretty good, you can see it held this 5360 support, it'll hold that the last couple of weeks, kind of broke under it briefly, but it was able to reclaim over that. And then once they got over the downtrend line, you can see it's starting to pick up some momentum here closed up 2.72% on Friday. So pretty good. Not too bad. I wouldn't say it's too overextended. Roku can definitely move higher than you know, a couple of percent. So I wouldn't say this was a huge close for Roku is pretty, almost pretty standard for Roku to be honest. And it's really been stuck in this range for a while. It just broke down. Now starting to make a little bottom held that 5360 and now breaking out of the downtrend. So I'd say it looks pretty good to the upside. So like I said, if the market can take up, we can see some bullish momentum, I will look for trades to the upside on this one. So I do want some long exposure. If the next shorts that we're looking at don't play out, I do want to be able to have some type of long exposure. Otherwise, you know, keep looking for calls on spy and QQQ as usual, keep buying dips but not swinging calls on spy or QQQ because it's just too extended for me. So that's Roku looking at calls. So for our next three here, these are hard time for him setups. A lot of them you can kind of see more on the one week. They are a little bit overextended. Google here, you can see it's pulling up in the 61.8% retracement. If you watch my other videos, I think it was maybe last week or maybe the week before, maybe it was last week. QQQ also pulling into the 61.8 and then I provided a couple examples of 61.8% rejections on other stocks like HYG, FXI when you're measuring a Fibonacci retracement to the downside. So if you want to go check that out and learn a little bit more about the 61.8% retracement, you can see, you know, that it can be a rejection area. So it's kind of the same idea. Just going to be looking for a rejection on this. You might need to take out the week's low. Week's low would be this candle right here at 122 flat. That could be a better reversal signal if you want to be a little bit more patient. Otherwise, if you wanted to, you know, start looking at puts up here, go further out, deal with a little bit of upside risk if it doesn't need to happen and you can wait for the 61.8% rejection to play out. Obviously, risk off would probably be, you know, if it got over like 128, 129, 130 area for, you know, a further out swing. Obviously, you know, 130 area too high for a day trade and I doubt it would hit that high in a day anyways. So over Google here, same idea as QQQ last week. QQQ kind of broke over the 61.8. Just a little bit. I'm still holding July puts on that. I feel like it's going to pull back eventually markets looking a little frothy up here. Interest rates are still high. There's still a chance that the Fed could raise interest rates after that labor report, but you know, there is like an 80% chance, I think, on the Fed futures that they are going to pause. You never really know, but either way, macroeconomic risks are still there and you know, this could be relatively short-term pullback, but I feel like it will pull back soon. VIX is getting really low and this is when you kind of want to start getting cautious and it kind of plays into that saying, you know, when the VIX is high, it's time to buy. When the VIX is low, take it slow. So that's why I've been kind of looking for more put swings on these large cap names the last couple of weeks. I feel like it's just better risk to reward and that did come with a little bit of opportunity cost. Obviously, I missed a little bit of upside. We had one on Apple hit a major resistance and pulled back for a couple of days, pulled right into our trendline price target and bounced right off of it. So you can still play shorts on the large caps and big tech. You just have to time them pretty good and obviously, you know, you don't always want to time the market. It's better to just have time in the market rather than timing the market. But short setups, you know, they can still work. You just have to be kind of quick while volatility is low because those dips do get bought up. So for Google here, hopefully we can see a 61.8% rejection and in my previous videos, I explained this is called the golden ratio. This is usually the most sought after Fibonacci retracement. And if you're doing a down measure, you're looking for a rejection. And if you're doing an up measure for uptrend, you're looking for a bounce after a pullback. That's for Google looking at puts. If you wanted to wait for that 122 flat, which is the weekly low from last week, if you want to wait for that to get taken out, that's a good signal. Be a little bit more patient. You can do that. This weekly candle does have a nice like lower shadow wick. So you can see there's a little bit of buying pressure and it pushed up into the end of the week. But candle still closed a little bit red. But like I said, that 122 flat could be a good reversal signal. So if it gets under that, that could be a little bit better. So Google here, looking at puts, maybe look a little bit further out for this one. Give it time because it's still extended and ball totally is low. So bulls are still in play. Next for Oracle here, we had this in the list last week. So it's the same thing pulling into this all-time high resistance, which is at 106.34. The weekly candle was not able to close over that for a breakout. Obviously there's no rejection yet or anything. So you might want to wait for a rejection candle at least on the daily. Kind of give you a signal at this all-time high resistance. Ideally last week we were looking for it to get under Friday's low of last Friday. You can see it was not able to do that. So I hope now you can see why that was kind of the trigger point to get under that 104.03. And look, it was not able to do that and it didn't march higher. So I feel like it's kind of the same thing. You'd have a little bit better risk to reward up here versus down here. So maybe it could pull back into that same level and try to hold up there. If you wanted to be a little bit more patient, you could wait for that 104.03, the same level. Wait for that to get broken. You could even set an alert, go to add alert, and we'll put a breakdown. So it's literally the same analysis from last week. It's just actually a little bit higher from last week. So we were looking at it when it was down here after this Friday close. This is the current Friday close. So it's a little bit higher. Either way, last week never got that signal under 104.03. The Friday low is extremely important to get under. It's kind of like waiting for a weekly candle low to get taken out except on a daily time frame. This is also the Friday's low. So you do want to see that get taken out. In order to go lower, fill up this big buy inbounce candle. Maybe pull into this 103 area. You can see there's a little resistance area here at 103. So that could be a short-term price target. Under 104 are likely to go to 103. And it would have to break under 103 to go lower after that. So same analysis as last week. You can see the KDJ up here still crossing to the upside. So momentum has not completely slowed. If you want to wait for that to cross down, you could do that. If you want to add this indicator, just go to indicators, type in KDJ. I use this KDJ indicator by IM altcoin. So you could do that. Nice little crossover signals. You can see you get a crossover signal downside here. Nice pullback. And once it was able to get back up, short momentum, nothing crazy. Really big momentum to the upside once it crossed over right here. And you can see it correlates with this up here. And you can even make it turn red or green. Give you easy signals. Obviously it's nothing to trade by itself, but it is a good little momentum indicator. Crosses over a little bit faster than the MACD. So it can kind of give you earlier crossover signals than your standard MACD. Oracle here looking at puts. Same thing as last week. Wait for it to get under 10403 if you want a better signal. If you want to get it up here and start getting puts up here, obviously go a little bit further out. Deal with upside risk because you don't have that signal yet. May have to start small. If you're adding in a riskier area, always start with one or two contracts. Leave some room to maybe add later. Maybe leave room to add once it gets under your confirmation level. But if you feel like it's really going to pull back from here, maybe a good spot to add because it did not clear that 10634. So Oracle looking at puts again. Next we're going into Nvidia. So this is another one week time frame setup. Kind of zoom out to see this just because this Fibonacci retracement all the way from 21 down to 2022 lows in October. So you do it to zoom out to see this one. But you can see once I got over the 100% here, huge breakout obviously that runs into your first price target of the 1.272, which is this extension right here. And usually after this big breakout stocks will sometimes see a rejection right at the 1.272 extension. And then it'll kind of pull back into the 100% area, which is your main breakout area from prior. So it could pull back and back test that obviously it's not going to always happen exactly like that. I can give you an example on Google here from 2020. So similar Google broke out in 2020. Same thing. You got a down measurement here. You got the 100% here. This is your breakout level of resistance. Once it got up there, hit its first price target of 1.272. You can see right here rejected. Try to back test the area kind of failed went lower before going higher. So the 1.272 is a natural rejection area just because that is the first extension target of the Fibonacci retracements. So it's your first extension. Then after that, I think it goes into like 1.41 and then 1.6. I think it's 1.618. You can see it kind of rejected that 1.618 here. So that's just a little example of the 1.272 extension, which is also just 127.20. The 1.272 is obviously just shortened. So I feel like Navita could get some resistance here. You can see that the KDJ on the one week is starting to slow up a little bit. Obviously there's a couple of false signals here, except for this buy signal right here. You get short green. Obviously it had earnings gapped up heavy. So that signal worked out pretty good. You have a fake out right here on the KDJ and then a couple of weekly candles of green right here as well on the KDJ. And then another little short fake out kind of. You need to be careful with the KDJ because you can get false signals, but this could be a little sign of momentum slowing. If you go down to the daily also the last time we had a red KDJ to the downside, which is right here. It had only one or two day pullback, but it did signal a little pullback. So you could have made a little bit on that. Obviously not as much as you would have made to the upside. And then you get a short two day KDJ run right here where you can see that little slice of green only two days. So once it gets extended like this, the KDJ cats are giving false signals just because you know it's still holding up. It's really high and it's just a it's a pretty tough area. But either way, KDJ crossing over to the downside here. So if you want to go further out on this, I feel like Nvidia could be a good put trade. If you go a couple of months out, obviously you're kind of going against the monster here, but it did hit one trillion a market cap. It's very, very overvalued in terms of price to earnings ratio. If you pay attention to that at all, obviously, you know, when momentum is crazy like this, nobody really cares about PE. But fundamentally, you know, a lot of people do look at price to earnings ratios and this thing is just to the sky right now. So we're kind of going against the grade here, but could be a good hedge, could be a good protection just because it's so overextended, tax running up, AI is running up. We have a little short term AI bubble going on right now. And if you have a bunch of long exposure, you know, it's probably not a bad idea to start hedging or at least have a little bit of exposure to downside, you know, with a small percentage if you have, you know, a portfolio that's majority long and video super extended and you are getting some signs of momentum slowing. And then you also have the 1.272 fib where it's pretty much your initial breakout zone and then we'll see resistance. You can see these two days right here perfect resistance off of that. Now the question is, will it continue off of this and maybe, you know, come back down to back test the 100% area or, you know, maybe start filling this gap. Obviously, if you wanted to wait and be a little bit more patient, you could just wait for the gap to get filled, but better risk to reward up here than shorting right when the gap starts filling. Obviously, it comes with a little bit more risk, but you are getting a better price. So NVIDIA might be a further outplay to be honest. I'm not so sure about short term puts here just because it's still holding up structure. Another thing with NVIDIA, you can see this 50 kernel regression line, similar to a moving average, a little bit smoother. It's kind of got similar calculations to a simple moving average, but it's a kernel regression line. So it's kind of like a moving average, but a little bit better. You can see how far it is away from this kernel regression line. Obviously stocks, once they get a little bit overextended over moving average, they start pulling back in for mean regression. You can see the NVIDIA is really overextended over the kernel regression line and it could need a little reset. If we add an info line here, it's literally 24% higher than the kernel regression line right here. And that's just honestly crazy because you can see, I mean, it pulls back into the kernel regression line, bounced right there, pulled back into the kernel regression, bounced their short term, held it up right here after breaking it briefly right here. But overall, it does pull back into the kernel regression and holds it as support. So there could be another kind of technical view on it that it's so overextended over the kernel regression line, which means it's probably pretty overextended over the moving averages as well. You can see the 200 SMA down here, which is, I mean, this thing is just probably 50% plus over maybe even higher than the 200 SMA, which is crazy. Obviously, this is a little bit more of a long term one. And then your 50 kernel regression line is kind of more medium short term. Either way, it's a good support area and stocks do tend to pull back into them and try to hold them up in an uptrend. So you want to do that as another technical piece of info. It's a pretty good one as well. If you pay attention to moving averages or really anything that involves meme regression, you know, stocks coming back down and testing the line. So Nvidia here looking at puts careful in the short term is maybe looking to a longer term trade. Alright, and next we're going into the indexes. So our first one, we're going to go into spy. Last week we had this trend line resistance. So maximum I had us at the trend line resistance. That's as high as like I put us until we broke out of it. You can see Monday or I'm sorry, this was Tuesday. It pulled into the trend line resistance and rejected for two days. So it hit our price target perfectly. I had us up to 422 max or the you know, the trend line resistance. It rejected right off of that for two days, but then eventually, you know, did find support bounce back up debt ceiling got solved on farm payrolls and unemployment tick up. Obviously, the labor data made people a little bit more bullish and was able to break out of the trend line resistance. The only problem is I really didn't feel comfortable of it going any higher than the trend line resistance and stuff because we do have this big one week supply that we're pulling into you have to zoom out to the one week to see it. You can see this huge inflection point right here. This is a one week rally based drop supply zone and it's not a bullish base candle like your standard supplies is actually considered a hidden supply zone because it's a you know, just your standard red, but you still do the same thing. You go from open to high to mark your zone and it's the same thing. It's just not a bullish base candle like your standard supply zones that you'd look for. So normally with supply zones, you're looking for bullish base candles. You know, you're looking for something like this. That's a bullish base candle right here. You're looking for, you know, something like this. That's another bullish base candle. And this one is just a big red. It's just I mean, it's just a big reversal candle that's red. So, but you do the same thing. You go from open to high, like I said, and it's still a supply zone. It's just considered quote unquote hidden. So spy is pulling into that. Obviously, it would need to get over that in order to go higher. I think this is horrible risk to reward. If you're going to buy calls up here, I mean, I would wait for the breakout, wait for your back test. Once it makes a base and it can show that I can hold up there, that's way better. And that's a little bit more safer. Otherwise, I mean, I would just maybe sit on your hands on this. Obviously, you don't really have a bear signal on the daily. You just have a straight bullish candle here. A signal to go back down. Obviously, you probably need to go back under 420 as a psychological level. If it got back under 420, you know, it could pull back a little bit. You also do have a new demand zone right here. That would probably be my discount area to buy calls at, you know, for a swing. If it was able to pull back into that, I would way rather buy the dip there than buy these breakouts. It's just not for me. And you get way better risk to reward if you wait for it to pull into support or you wait for it to, you know, pull into a demand zone for shorts. Obviously, you have the KDJ positive, so maybe not the best time to get shorts yet, but you do have a real low VIX. So premiums are super cheap. It's very cheap to hedge, but it's not going to cost you an arm and leg on premium. You just do have some upside risk. So when people are not willing to pay more for insurance, obviously your premiums go lower and there's no fear in the market. And the VIX is that basically to your lowest, I think it's the lowest it's been, you know, since like 2020 levels, which is just crazy. I'm not sure if that's, you know, just from the AI hype. I don't know if it's from zero day options, kind of batting down volatility, dampening it. Who knows? As we know, is that it's super low and you do have to be really careful buying when it's so low. Like I said, when the VIX is high, it's time to buy. When the VIX is low, take it slow. So it's kind of relative to the spy because the VIX obviously is connected to the S&P 500. It's based off as SPX options. So you do have to be careful with that. Obviously, we do have a major resistance that I broke over here. It's the same one we've been focused on for weeks, that 418.31. It needed to get over that in order to go higher and also get over the trend line resistance that we looked at last week. So I was able to do both of those. So, you know, this could go a little bit higher just based off of that. But like I said, pulling into the supply, so maybe not the best risk to reward. If you really want to wait for upside, wait for the major breakout or, you know, around 432, but don't buy the breakout, wait for it to get, you know, make a base, wait for solid structure to get made and then you could try to go along there. Otherwise, you know, the supply zone is a little, a little bit risky. You got the VIX super low. So it kind of, you know, it takes the risk to reward away, you know, buying up here. And obviously, that comes with a little bit of opportunity costs. You know, if you, you know, didn't buy 2020 when we were breaking out, obviously you missed a lot of money too. But we are in a different environment. So we do have a little bit more macro risks. We don't have, you know, 0% interest rates. We don't just have money flying around to everybody like we did in 2020 and 2021. So different environment. Mark is just kind of going up on AI and other tech hype maybe because they finally actually have a product to sell that's new. You know, we're not just going up, going up based off money printing. There's actually a new product being sold that could be good for the future. And you know, people get bullish about that. So that's for the spy. Just be really careful here. I personally wouldn't long here wait for it to get over 432, make a solid base off of that. And then maybe you could try up there. Otherwise, I mean, you don't even have a signal for a short here. I mean, it's just straight bullish candle point and supply. You would need to start getting back down maybe under 420 or so before trying to go short. Obviously, I mean, you could really try up here if you wanted to. It's just a little bit risky because you do just have this big bullish candle. So you don't really, you know, you don't have a reversal signal yet. All right. Now we're going into the QQQ. So this is the weekly chart. We'll go into the daily two. You can see it's breaking over the 61.8 retracement. So I was looking for resistance there was not able to do that hasn't gotten too far ahead of that or above it for me to feel uncomfortable yet. I would need to see a little bit more before I, you know, wanted to close much of my puts. Also, this weekly candle, it's really not the greatest. I mean, you have a really lower shadow week. It's almost like a hanging man or which is potentially bearish. And I'll post a little example of a hanging man just so you can see the candle and kind of just different charts on it showing a reversal. So you do need to see a little bit more. Obviously, your reversal your reversal is confirmed under the weekly low. So we need to get under that weekly low in order to confirm your reversal. And that's going to be at 34651. So you do need to see a little bit more from QQQ before it goes lower. You can see it's just straight uptrend mode. Obviously, KDJ is starting to cross back up. You had a fall signal to the downside here. We did have a two day pull back. I thought maybe, you know, turn around there, but eventually the debt ceiling got resolved and also non-farm payrolls and just overall labor market data was able to scream as higher on Friday. So we do need to see a little bit more from QQQ before I, you know, expecting this to go down. So, you know, I can deal with a little bit more upside risk before closing my July puts. You can see, I mean, it's got a new rally rally based rally demand zone. So I was able to put in that higher high that confirms your demand zone. So I wouldn't need to get under that too. And that just kind of coincides with the 34651 low, which is also the demand zone low and weekly low of that candle. So it doesn't need to get under that way overextended. To be honest, I would not want to buy calls up here. Maybe for day trades, just keep, you know, buying dips. If you see him intraday, that's working pretty good. I'm still doing that intraday on spy and trying to do it on the Vita on Friday too. And it was a little bit weaker, but it looked like a better discount than everything else. And I did get stopped out on that. So obviously not everything's always going to work for a dip buy in this kind of momentum, but it is still working and dips are still being bought. So if you want to keep a short term, still good to buy dips. I personally wouldn't buy calls up here for swings. Just way too ridiculous, way too extended. There's not a lot of reward to the upside. And you can probably have to deal with more dips in order to go higher after a move like this. So it's got to be smart. It's not always wrong to just sit out even if there's, you know, some opportunity cost. But like I said, needs to get under that 346.51 to signal a reversal for the upside. Your next Fibonacci retracement is this 375.66. And that's pretty close to this major resistance here. It was about 372. So that could be the next target over time. I don't think it's going to get up there very quick. It's probably going to need a little pullback consolidation in order to go higher. But, you know, it could eventually hit. I just have to, you know, make a nice structure. Don't get extended too fast. And, you know, it could hit. Otherwise, going to be waiting for that 346.51 we could load to get taken out and that could flush to the downside. So QQ here, just looking a little bit off limits. You know, you don't have a signal for puts yet and also is really not the best risk to reward for call. So maybe just be careful on this one. Next going into IWM. So this one was actually looking way more favorable to me last week. I was expecting it to get back up to 179.76 resistance. It did exactly that. So this was our demand zone that we were looking at last week. Let's see. Looks like Friday closed up with this candle. It did go up a little bit, but then it pulled back for two days. So it did pull back, but it pulled back into demand held up there and it was able to blast higher. So you did have to deal with a little bit of turbulence right here. But either way, it did end up hitting our 179.78 or 179.76 area. And also another long signal this is giving. It's finally over the 200 SMA on the daily. This is the first time it's gotten over that since January of 23. So right at the beginning of the year it was over that very briefly, but then pretty much broke back under and it's been chopping under it ever since. So now you do have that signal over that and also you do have a signal over 179.78 which is the resistance we've been focused on for weeks if not maybe a month or longer. It's just been the same area and I pretty much just been looking for trades within the range and that's about it. But now we're starting to get over that. So we're breaking out of the structure. Yeah, KDGA crossing over to the upside. This is a fresh crossover. So that could be good. It could go a little bit higher here. You don't have any supply till it gets up to here. You got a big supply candle here. So that's your major supply. It's about 190 or so. What is that like a pretty much like a rally based drop area? Maybe like a drop based drop area. If you that's kind of ugly for a drop based drop. But either way, nasty supply candle that led to a huge sale imbalance. So this is your supply area. If we zoom out for Fibonacci retracement you can see I just deleted the one day demand zone and supply zone. I just wanted you to see these Fibonacci areas clearly. You can see it's been holding up to 50 ever since July 2022. So that's kind of been the support. Your next Fib is at 187.63. So it could retrace back up there. And that kind of meets right with the supply we were just looking at at 190s. So maximum I could probably put us about there. Not sure if it'll get up there this week or anything. It's a pretty big bullish candle. So it might need a little pullback or consolidation before trying to go higher. But either way, I showed you on the daily it's breaking over the 200SMA and also it's over your 50 kernel regression. And it's also over your 179.78. So that was a long signal that I was looking for. And you finally did get it. Another thing we're looking at a couple of weeks ago was just this downtrend breakout. So I said this downtrend breakout would be a nice long signal. It ran for a couple of days, ran into resistance and it did pull back. But now finally over that. So looking pretty good. I would say this was the more favorable long just in terms of value and cheapness. It was way lower in the spine QQQ and it did close that way stronger than both. So we did get a broad market rally on Friday and the breadth did look a little bit better. So we had multiple sectors up. We didn't just have tech carrying us. So that could be a good thing for the markets. Another thing with IWM regional banks situation with all those regional banks crashing that did kind of bring it down also and just the financial sector in general. This thing kind of does run with the financials. So you do have to watch those as well. If regional banks and the financial sector start curling up this will probably go higher. And like I said, you do have that supply at the one nineties, one eighties, one eighty nine or so. And then you also have the 38.2 that I showed you on the weekly chart at one eighty seven IWM here looking pretty bullish. And next we're going into the worst indicator ever. Just kidding. It's not the worst indicator ever. It's just it's been having really not that great of signals to be honest. So we finally got under that 1553 which is pretty much what I was looking for in order for the market to go a little bit higher. It was able to do that. Once I got under that, you can see Friday's closed by you know, closed up basically to a new level that we haven't seen in a while. So we really needed that 1553 to get broken in order to go lower. And then I had the 1473 next that I could get down to there. And that's coming from all the way over here back in 21. So you see this 1473. That's what this red line is all the way from 2021. So that's why I had that 1553 the most recent low down to 1473 which is a 2021 low. So that's why that was the price target. Obviously we're slightly under 1473 now. So next area probably just be 14 flat. If I was able to get under that about 1410 there's a little wick low right here from 21. And that's probably about as low as I could put it for right now. I feel like it could start holding up there and try to reverse just because you know it's so low and the cost for insurance is pretty cheap. People might start trying to pick up hedges just because markets looking a little bit frothy but anyway it does have to hold up that 410 in order to curl back up the 2022 to 2023 average close is way up here. So your average close from 2022 to current is about slightly under 24. I don't have the updated numbers for this week. I forgot to plug them in but either way it's probably just about you know 0.10 lowers it's probably about 2380s especially when it's this low it's been dropping about 0.10 every week. So you just assume it's about 2380s or so but either way we're really far away from it but eventually it does like to have a mean regression and come back up to that average or come back up to the 200 SMA or even come up to you know like your 50 moving average or this kernel regression line. So eventually it's going to bounce you just have to wait for that signal and right now a signal to go up for the VIX would be if it reclaims 1553 if it reclaims 1553 that takes you pretty much back up to the 18 is this really no resistance this is just a straight red candle that 1831 which is your two areas right here where you see the arrows that's your pretty much your closest resistance if it gets back over 1553 so it does need to get over that before you know seeing a signal for the markets to start pressing in fear again and 1553 is still mad low like I said every week 20 is the major level you need to get it over 20 you need to close over 20 and that signals fear in the market if it closes over 20 it doesn't need to get over 2133 which is this most recent rejection right here so that's for the VIX does need to hold up the 14s here I got maximum must going down to 410 maybe it would need to break under that for me to even think any lower just because that is a 2021 low or a 2021 wick low so it does need to break that or hold it up though that's for the VIX just wait for the 1553 to get reclaimed if you want to get bearish otherwise watch this 1410 area as a major level from 2021 all right and next we're going into the DXY so really didn't have too much in the dollar last week you can see there's a nice pullback here I think I pulled back about 0.64 percent I'm guessing we had a green day on this day because I mean the market's been reacting when the dollar pulls back the market will go higher and go bullish when it pulls back but it's not even reacting to it moving up really that much to be honest so it's been kind of a strange indicator we're also we've also been going up when bond yields go up which is also strange because 2022 when bond yields in dollar we're going up I mean it's obviously kind of bearish for the market so kind of in new conditions here not sure if those indicators will eventually catch up I feel like they will last week I was saying I feel like we needed to get up to that 105-10 you can see it topped out at 104-71 so it was a little bit short of that area I still feel like if it gets up to the 105s that could spook the markets a little bit I feel like it does need to get a little bit more elevated for it to start reacting or it just needs a harder pullback in order to go you know super bullish but either way you do have a new rejection area right here at 104-70 super short term nothing crazy but as long as it's holding over 103 which is our 2020 COVID peak which is 103 flat that's where you get 103 from as long as it's holding over that I consider this still a little bit elevated and you know that could spook the markets a little bit we'll need to fall back under 103 in my opinion in order to be you know a little bit more bullish but right now I mean the dollar's kind of being ignored so maximum I can put us up you know to that 104-70 and that's really about it that's the most recent rejection area otherwise you know it could maybe pull back into the 103s but there's really not a signal on this right now you can see the KDJs crossing to the downside some momentum did slow a little bit after a nice run-up you can see the KDJ gave a positive signal here had a really great run-up now momentum is starting to slow we'll need to see a little bit more currency volatility maybe that brings some volatility into the markets this big day here down 0.64% and also a pretty big update right here up almost half a percent so anything over like you know half a percent either up or down on the dollar I usually consider that a pretty big move on the dollar and it can you know bring some volatility to the market whether it's upside or downside and with this week's data that we really don't have too much except for Monday I feel like maybe the currencies won't really move too much the reason why we moved so much to this or last week you know is because of the data that we had and also the debt ceiling issues we'll need to see a little bit more data from the dollar I don't really have anything specific here really not at a support and we're really not that close to a resistance either and also the markets are not really following it too much so maybe just need to see a little bit more data but hope you guys enjoyed 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 extra youtube channel and I'm out