 What is going on everybody is Stas here welcome back to another video So in this video, we're going to be doing an overall market update looking at the Dow Jones the S&P 500 and the Nasdaq We're going to be talking about one trade that I made today on the 4th of February in 2019 As well as briefly taking a look at what Google reported in terms of their earnings So I'm sure all you guys saw in the title that the tech stocks have continued their run And if you guys been paying attention to the stock market over the past week and a half You saw that the tech stocks, especially Facebook and Apple have been on an absolute tear And that was nothing different than today guys today We saw much more of that with Apple being up $4.75 per share Facebook up $3.50 per share We saw Amazon up around $7 per share today Microsoft up a solid $3 and of course Google just reported their earnings and they're up around $22 at the close We'll take a look at the stock in a little bit to see how it's reacting to their earnings after we talk about the earnings So stay tuned in a couple of minutes later on in this video We're going to be talking about that So now that we saw a little bit on what the tech stocks did And of course we're going to take a look at the charts in a couple of minutes Let's take a look at what the SPX the Dow and the Nasdaq did So we can get an overall idea of how the market pushed today We'll take a look at some different time frames and let's hop right into it guys So the SPX the S&P 500 the 500 largest companies in the United States of America Up around $18 today up 0.68% on the close We can see here guys like we've been knowing oops not that close Like we've been knowing over the past couple of trading days We broke out of that 180 S&A resistance the 50 S&A is honestly looking like it's about to cross the 180 S&A In a couple of days here if this uptrend continues meaning that you know whenever we get a 50 S&A cross Above the 180 S&A we've talked about this in a bunch of videos. That is a very bullish signal Very basic technical analysis here guys, you know, you know using simple moving averages to identify an uptrend Or a downtrend very basic guys, you know the 50 crosses above That's a bullish sign and of course if it crosses below like we saw back here in october That is a bearish sign So keep an eye on that potential cross that we might get in a couple of days And of course we're trading above that 180 simple moving average right now Like we've covered in the past couple of videos But if we take a look even closer here guys the continuation of the uptrend is still Evidence right it held above that red trend line that we can see here It's pushed to another higher high to around 27 24 and there's honestly no downtrend reversal pattern in sight I thought we were potentially getting it here a couple of days back with the double top pattern But we found the support and pushed to another higher high So that was invalid and of course I thought it was going to happen here again Potentially in yesterday's video that I talked about it. But you know, we saw the push to a higher high today So honestly guys the continuation is still there. It's not really looking like it's pulling back anytime soon Based off of the technical analysis. So now that we can see, you know the spx Let's take a look over here to the dow Jones to see what happened So we saw it was up around 175 points today Up around 0.7% just like the spx guys were trading above the 180 simple moving average with the 50 sma nearing the cross Above the 180 sma which does signal a lot a lot of bullish potential in that stock index etf Whatever we're looking at but in this case, of course, we're looking at the index of the dow Jones, right? And if we take a look on the smaller charts just like the spx guys, you know, we're still up trending We held above that uh trend line here We pushed to a higher high to about 25,200 dollars and there's no sign of a reversal in sight Right. I thought it might have been here with this potential double top. We didn't get it We pushed up we ended up gapping up pushing to another higher high I thought it could have been here potentially right this morning. I thought we were selling off But again, we held that trend line. We pushed to another higher high and uh, you know, the run is continuing So just to give you guys a quick little brief, um, you know showing of what You know the value of percent and what percentage value have we increased since this bottoming out point The dow Jones is up around 13.5% So that's a very strong start to 2019 and the spx I think it's up a little bit more probably around 15 right right around 14 or actually no right around 13 90 So close to 14% which again very solid start to 2019 and let's take a look at the nasdaq guys Of course the nasdaq is very tech heavy. That's why it's one of the higher moving indices today It's up around 1% and I thought at the close it might have been up around 1.1% But again for those of you guys that don't know these are the futures So they could be down a little bit after market hours in the reaction of google and let's see Yup, it did peak up here. We can see after google came out. They pushed down a bit So that's probably what is dragging down the nasdaq But uh, nonetheless, let's take a look at what it's doing on the 180 chart here We can see, you know, it got out of that horizontal pattern that we were talking about it broke the 6800 Resistance it held this one This previous resistance, which is now a new support as a support, right? It held it for a couple of days here We can see and now we're popping up above it So just like I talked about in the previous video guys, if you guys remember this comment down below But I was talking about how we were trading in this channel, right? We broke out of that channel Holding this new resistance old resistance as a new support with the possibility of filling this as the next channel, right? That's exactly why I have these trend lines here. It's pretty much playing out, you know, exactly as to how My technical analysis was done and what I said in the video a couple of days ago, right? So we can see the clear bounce on this support We broke out of that 6900 area, right? And now we're trending up potentially getting to around the $7,000 mark next and of course after that at around 7100 that is where we're going to see if the nasdaq futures Nasdaq indice in general is going to be able to, you know, fill that gap So as of now guys, you know, all of the indices are up trending still no sign of reversal and honestly the way it's looking guys With the optimism that's pumped into these stocks right now We could see some more green over the next couple of days, but i'm still sticking to my thoughts that We're going to pull back eventually and once we do pull back It's going to be pretty strong, right? Not saying we're going to have a recession There anytime soon, but you know, we have seen some hedge fund managers, including Ray Dalio say that they do see Signs of a recession potentially happening at the end of 2019 towards the beginning of 2020 But honestly, you could call bs on that because I feel like every single year over the past six years We've seen people say every single year that there's going to be a recession and there wasn't a recession But at some point, you know, it's going to happen guys and the later the later we wait the farther we get into this bull run You know the closer we do get to that recession, right? So now that we've got over, you know, the pretty much the the market update the brief analyses of the major indices Let's take a look at google stock very quickly. We'll talk about their earnings I have some notes here on my phone and we'll go over that briefly see the reaction of the price To the earnings report and then we'll talk about what I traded today and get on with the rest of the video. So Very briefly guys very very briefly here earnings per share beat by a heavy margin $12 and 77 cents in eps This quarter for google versus $10 and 86 cents Expected I believe the the drastic change in this is due to some tax reform plan I was reading about that I forget off the top of my head right now But for those of you guys that know what i'm talking about drop a comment down below But i'm pretty sure it's some tax law that made their eps stand out This particular quarter, but anyway the revenue was 31.84 billion versus 31.3 billion dollars expected Revenue rose 22 percent year over year their revenue growth benefited from strength and mobile search Including youtube guys. So one thing about google's earnings. I would love to know Honestly, how much money you know youtube itself is bringing in because youtube I'm sure is one of the biggest business components of google the amounts of you know volume and search It's getting you know all these new creators the ads everything I'm sure they're bringing in a crap crap crap ton of money But anyway, the usa revenue rose 21 Percent growth year over year the em ea revenue growth was 20 percent year over year Asia pacific growth was 29 percent year over year and the other america's growth was 16 percent Year over year and another key thing to note guys just to show how powerful of a company google is They ended the year with 109 billion dollars in cash and investment So they have guys they have 100 and billion dollars in cash Just sitting there potentially waiting to buy out. Well, obviously some of it's tied up in investments But the some of the lump sum of money that's in strictly cash, right? You know, they can go out and buy a different company. They can buy this buy that they have so much leverage Just having that much cash and I don't know how easily They can liquidate their investments whatever their investments are in but i'm sure you know They can drag some of that money out and put it into uh, you know, some other things if they decide to buy right? So one bad thing about uh, the google's earners report was that their operating income fell short of estimate 8.6 billion expected versus 8.2 billion dollars Reported so that's just a brief brief Gist of uh google's earnings report. There's a ton of things that I didn't touch upon But I just wanted to mention, you know the revenue growth The eps growth and of course the strength of the company with the 109 billion dollars in cash and investments And we can see guys google stock super super volatile here after market hours Spike from 1130 up to around 1160 That's a 3% move to the upside and then it swung down 4% nearly to the downside and now it's hovering around We see these two spikes here that does seem like a little bit of a manipulation there in google stock But uh, anyway, you know, it's down around three What's down like 3% right now after market hours not too crazy of a move to the upside or the downside in terms of google stock So let's talk about what I traded today very quickly before we talk about a couple other stocks etfs that do Look pretty solid right now and didn't move according to what I talked about in yesterday's video So what I traded today guys, I'm sure you all saw cron had an absolutely ridiculous run again today It was up 17 percent at one point. I captured around 1.2 percent of this Really early on in the day today guys I was done trading literally within 20 minutes of the market open and pretty much how this trade ended up going down Is very basic. We can see here We gapped up to around 21 dollars and 84 cents I was actually explaining this to someone in the dm on discord today. We gapped up 21 dollars 84 cents and ended up gapping down to around 21 40 where we found that support and that opened up Roughly 2% margin of profit and then once I saw guys what I wanted to see is a hold above that 180 sma As a new support we got that we saw a strong green candlestick It started to trend up and this is when I started to build in a position once we started to find that support Once we started to bounce back up That is where I ended up building my position right very very simple here I was looking to see if it was going to fill that gap from the pre-market high This is often how I day trade right, you know early on in the day within the first 30 minutes because A lot of stocks are choppy early on in the day This is an example of a big sell-off But I wanted to see if we found support it found support and I ended up getting in at around 21 dollars and 61 cents I believe and then I started to scale in until I took around a 1.2 Profit guys very quick little scalp trade up to around 21 90 the whole idea and goal of this trade was to profit on the gap fill and once we filled that gap guys I got my 1.2 Ended up taking my profits and then just pretty much played it safe for the rest of the day Sure, if I held you know, I would have made a crap ton of money I probably would have made 15 times the amount of money that I did make but You know profits profit consistencies consistency, and that's what I'm all about guys. I don't go for the home run trades I like to keep it very You know risk managed I like to keep it very consistent And I like to keep the wins and the profits small so that I can last You know over time because again like I say a lot in these videos If you go for the home run trade every single time and when I say home run trade These could be some of these penny stocks that are pumped up by some of these, you know stock people You know on the youtube and the internet that sell crap like that, you know the chat rooms It could be some other volatile penny stock that's on a bio farm, you know penny stocks some of these stocks guys They can go up 100 500 a thousand percent in a day But you can lose money if you get in late and you get in on the dump Let's say after you know the chat room whatever with these chat rooms I don't even know. I've never honestly been in one, but I heard a lot of bad stuff about them You know people losing money. Just be careful guys. Honestly, I'm here to you know Really help you guys out. I feel like you know a lot of people need to hear You know, it's not all about the home run trades You know you can lose money if you do get in at the wrong time on these penny stocks And that's just really discouraging You know a lot of people end up quitting due to that and honestly, I just hate seeing that it just gives you know traders And uh, you know stock trading in general a bad rap a bad name and you know, I'm not about that honestly I really hated that so um Let me know down below what you guys think about that But you know, that's pretty much it in terms of my trade today on kron Some other ones that i'm looking at and i'm really liking right now are you know these crude oil ETFs We finally got that pullback like I was talking about in yesterday's video that I was looking for We saw crude oil was a bit overbought I wanted to see that pullback and the hold above the e-m or the 50 sma rather We got that so that could potentially be or rather this could be potentially a solid entry point for uwt So uwt, I know a lot of you guys traded it today. I'm sure a bunch of you guys are swing trading it overnight This is one that i'm going to be looking to trade tomorrow possibly pre-market during the market We'll see how it ends up going so uwt guys. I'm watching that one very closely JD st ended up doing very well today. We saw it was up around three percent This is another one that I was talking about in yesterday's video I was looking for that pullback in the gold futures. We ended up seeing that pullback today from 13 30 Actually, no, is that around 13 25 earlier today? I believe right? Or no, that was at the close on this previous trading week and we saw it sell off all the way to 13 13 And now it's holding that support guys So let's say, you know, it breaks the support to the downside This could have continued to sell off maybe to the 1305 level But let's say it holds this as a support, you know, this could be a potential entry in jnug And this is exactly what I was talking about in yesterday's video guys and the beauty of these ETFs You can profit on the downside, which is what I pretty much called out, right? And then you can profit on the upside if you do find the support in the future that you are trading So that is what i'm looking at guys, you know tomorrow potentially entry point for JD st If we break here, but let's say we hold this support and we break this 13 20 resistance That could be another position to go along on jnug so Those are the two main ones that i'm watching tomorrow. We saw obviously the marijuana stocks I don't have to show you guys again. You saw cron did absolutely amazing today. We saw cgc It popped up to like 51 dollars at one point. Um, we saw abc This one did very well not abc. This isn't it. Wait, is this it? No, no, no, this is not an acb ACb is that a roar? Yeah, there it is acb. That's up 9% today guys So, you know, these are all screaming pullback, but every time I do say that they run up another 10% So honestly, they're disobeying the technicals guys. They don't give a crap about the technicals These are just going to become more overbought overbought overbought and then at one point They're just going to crash guys. So i'm waiting for the crash. It's going to come You know, we saw it this time right a crash from 12 all the way to like 10 50 in the matter of about a day It seems like so we could potentially see that and one of these days coming up. Who knows so Another one I want to talk about briefly before I end the video is j and j This one also got the pullback that I was waiting for and it's looking like it's holding above that previous resistance Which is now a new support at around 131. Sure, it could probably sell off more to around 131 50 And if it does that might be an even juicier entry point for a swing trade But of course if we break below, you know, that's going to be a break of pattern We could be heading back to the downside So i'm watching to see if it does end up holding this pattern guys This could be a good entry point for a safer swing trade in my opinion So I hope you guys enjoyed the video if you did feel free to drop a like leave a comment and subscribe And i'm sorry if this fan is bothering you my computer is overheating right now and the fan does seem a bit loud So if you got if you got that in the audio and it bothered you I do apologize You know i'm in the process of getting a mac book pro right now, which will not have these overheating issues But until then guys, i'm sorry if you do hear these, uh, you know this fan in the videos And I hope you guys did enjoy it like I said drop a comment leave a like subscribe again Thanks for watching guys. I really do appreciate you all. I'll catch you later