 Good afternoon everyone and welcome. This is Melissa Arma with the Stock Swish. I'm here today to review the SPI And it's a good day to do it because I just want to see here how we closed on Friday All right, we actually closed at 2 o 3 23 So this this is not right. This is after hours like Friday night. We actually closed here So the bar is smaller red. So we open at 63 closed at 23 So we had a 40 cent Loss in the day. I'm really looking at this is neutral. Let me tell you why this is crazy people I I know what everyone's thinking everyone's Literally everyone about me is thinking the market's lower and I don't know what happens with the futures tonight. I don't get futures data I'm gonna worry about till tomorrow morning, but I'm telling you right now If you just look at the overall trading action here, let's look at the live day This is spying live day. I called the market to hold in the morning to rally as a long I personally didn't do it because I don't buy down gaps However, I called it for the run was a huge straight huge and ran up crazily almost got to the dream target Could have gotten to 208 Okay, it didn't but it had a huge massive move Loan here was 20339 high up in here was 206 90 basically ran up to 207 Okay, this is a huge move people There's no way around it more than three dollars into the open ran up in the gap down It was not a gap down to short I know you look at this you say Melissa this we sold off and we did this and we sold off in the day Not really the new this was a neutral close in the market No matter how you look at it the low in here even to the day First of all, we didn't break the load after three o'clock then we dropped bounced off of 202 72 And now that I see this it even more makes sense. It's the same number here 78 72 These are areas we bounced off the pivot that happened back here in May only a month ago This was May 19 today is June 26 Friday was the 23rd under the 24th. It was Friday Either way all we did was bounce off this when I saw the gap in the morning of the gap I knew to myself we would hold and we did and you can say well, we saw them in the afternoon No, it's neutral. It's neutral and this is really bullish to me because because of the news that came out Which was the unexpected decision in the morning on Friday From Great Britain leaving the air are voting they haven't done it yet, but voting to leave the European Union The the market was topsy-turvy. It was a very wild volatile day to trade when I watched this Which I did Thursday evening Thursday night I never never in my life saw a Postmarket rally With the kind of volume that I saw into the clothes on Thursday night If you were long the market you made money in the clothes as long as you get out before this area But the market was bought Hugely into the after hours on Thursday night. Now. We did get down We hit up to 212 at the high of the postmarket area. This is Thursday evening The vote did not turn out to be the expected vote because they thought they would vote to stay They did not so the reaction then was what then that the market got down The market got down in the pre-market. This is 8 a.m. Now We're talking Friday morning. And so we had a negative reaction, but we just got down to support We just got down to support area and I'm not saying you buy every gap down to support I'm not saying that at all. I'm saying if I had raided the scat I would not have shorted it and in fact, I had zero conviction to short it didn't call it as a short I call it as long and that's not something I normally do But I knew that the move up would be big and it actually open everywhere swushed and that's something I teaching a golden gap class But the point is and what I'm trying to say is that everyone that panicked city USA Sold out of their IRAs and for okays and everything else. That was the wrong thing to do because the market's still in a trim It was a news reaction with an anticipation of an expected news and nobody knows these things Okay, bottom line is the expectation was higher in the postmarket Thursday night It didn't turn out as expected. So we dropped into the open gap down on Friday morning But we held the gap. We even closed neutral. We rally hugely in the morning of the day and There's nothing to do with this to the downside Okay, market is still holding the uptrend. It's taking it's taking its time to get over the high that I'll give you I'll give you that. I mean, I'll tell you that right now, but There's nothing in here that shows the sign of a change in trend. Remember follow the trend I didn't make that up. This is just a good rule of thumb and we're still in an uptrend Keep in mind people that the strategy I trade daily is gaps. I rate gaps I short bearish gaps or go long bullish gaps if they rate 20 points or more per my 26 point rating system And this gap on Friday, I would not have shorted. Trust me If we're gonna fall off a planet and collapse into the face of the unknown, I will be shorted everything and then some I would be screaming short the world, but I'm not doing it. And since I'm the queen of shorts Know that when I say that the actual gap down here, you know, it was real. I'm not gonna deny it I'm not even gonna say that this gap was a real it was a real gap and I I was upset when I saw it Obviously because I'm ready for the market to hit over the high for the spy options I'm in but I'm telling you right now It doesn't mean that we won't and this was a hold and on the live day was actually neutral because the huge ride It came into the open This when I look at it and I'll say one more thing and everybody go tonight When I look at this here this trading action, and this is this is buying This is buying buying buying buying buying and there was buying in the post market There's nothing that takes away from that. This was buying and this was buying now I know we had a gap down so you did have some selling or you never would have had the gap down We would not have gap down from the previous close. Let's just go very very strictly to the close in the open Close Thursday night. I'm not talking about the after hours was two ten eighty three open Two or three sixty three So that's basically two ten eighty three minus two or three sixty three So it's a seven dollar and twenty cent gap down not including the post market and the pre-market From Thursday night to Friday night So it was a valid gap down to rate and you could have looked a short it But what I'm telling you is that it wasn't a short end of the open it reverse Swooshed despite that that size gap down and it could have done the opposite And if we were gonna fall off the planet after a gap down like that, we would have done it now I will tell you this this is a big big big week for the market Who would have thought the last week of the month in June in the middle of the summer before a holiday for the markets closed The markets closed next Monday. All right for July 4th This is gonna be a really telling Week for the market. I thought we'd run up here and just get over the high after hours before the vote Tally we almost were We got down here. I've been talking about this and talking about this and I said could we go down here? Yes, do I want us to go down here? No, could we yes when it changed the trend? I said no We did it. We did it in a gap. Does it mean we're broken? No I will tell you though This is a very Significant week in the market to see where we got Monday morning how we trade out whether the market gets bought with the market holds With the market sells off if we have bullish gaps or bearish gaps and the quality of those gaps as well And that's what I teach in the Golden Gap class, but I will tell you that You know not not knowing anything about the futures tonight Not knowing anything about the gap in the morning tomorrow Monday not knowing anything at all about the news Or what's gonna happen next my my gut reaction is that we're gonna home I might get reaction is that barry any other world unforeseen world events We're actually gonna end up holding we will still make a brand new all-time high in the spy this year Although I can't predict the timing of that or when and this thing kind of screwed it up Because we almost did it the night before and Thursday and if the vote had turned out differently We would have gapped up over the high in Friday morning instead of gapping down here where we did So anything can happen in the market and it can happen But we will definitely if we get over the high have a short squeeze It's so evident. It's nothing's been more evident. I've been calling it all year. I've been calling it past 2015 I've been saying it and definitely in the beginning of 2016 I said we're gonna see a short squeeze It's gonna be worse now because people are bearish on the market people are scared people are panicking But it's not real based on what institutional buying and when I watched the market And if you watched it, too, which probably nobody did nobody nobody would sit and watch this just stare at the screen like me I Watched the market trade live on the one minute chart in the 15 minute chart in the after hours and Thursday night to see Where it was gonna go and close and I'm telling you right now. It was bought it was being bought and Even this tail thing here is is is money coming in buying it This is institutional money buying it into the gap down and here as well So, you know what an institution or a bank or hedge fund buys into something They don't immediately quit and sell out of it and they will buy it at varying prices. They can buy it up here They can buy it up here. They can buy it up here. Do you understand what I'm saying? So this is the power of the institutional money and power money in the market and that you get in a gap and I and I can't want to see what happens But my my instinct is that we don't have follow-through the scap down that happened from Friday That we hold this week that buying comes into the market And I don't know when we make it over the high if you're interested in more information on the golden gap course email me at Melissa the stocks which calm if you want to learn how to predict what the movement in the market of the spy or any stock will be I have a way to do it. It's a 26-point rating system that I teach in my golden gap class. It's the way that I trained It's the way I've been able to predict the market This is a news related event the market was along into the open at Friday And then you should have been done these kinds of days You don't want to trade the market's too volatile and you almost can't even you just don't even want it You just want to watch it and you can learn a lot from this and I'm telling you the market was not bearish despite all the negative news It was not bearish from the live day on Friday. It was actually neutral We had a huge rally into the post market Thursday and we gap down This is gonna be a big week. I can't wait to see what happens email me at Melissa the stocks wish calm if you want more information Thanks, everybody. Have a great night