 What is going on everybody is Stas here welcome back to another video so in this video We're gonna be doing an overall market update taking a look at the Dow Jones the S&P 500 and the Nasdaq We're going to be doing a brief trading update talking about what did I end up doing today in terms of my trading? What am I watching? What are my plans for these next couple of days heading into the middle of May in 2019? We're going to be talking about that in today's video as well as breaking down some stocks that a subscriber actually Messaged me and some that I'm personally watching and keeping my eyes on over these next couple of trading days as This whole trade war deal to meet up with China and the USA kind of as this whole drama I guess you can say unfolds because we all know at this point tomorrow Friday Trump is going to hit China with these tariffs unless they come Miraculously, unless they come to a trade deal, right? So before we get into the knitting grit of this video before we get into these different topics All I ask from you is if you enjoy the content here You find value from the content here on YouTube me breaking down these stocks Feel free to go down below and hit that like button guys Simply just hit that like button if you enjoy the content It really helps me out it supports the channel and it's quite frankly telling me that I'm doing a good job here on YouTube And if you guys want to be further connected with our community There are two links down below in the description if you aren't you aren't already in those two communities I advise you to join them one being the Strive smart discord group chat and the other one being the Strive smart Facebook group both of those very valuable communities with a bunch of helpful Like-minded people so get in there if you're not already in there and without further ado Let's talk about it guys. What ended up happening today in the overall stock market here starting off with The SPX also known as the S&P 500 the 500 largest publicly US traded companies This index ended up closing down the day about point three percent down about point eight or eight dollars rather in seventy cents a Minimal green day, but nonetheless a green day or rather a red day not a green day Oh my god, my mind is boggled right now guys red day for the SPX the Dow Jones here down about 138 dollars and 97 cents down about point five four percent on the day yet again another red day for The Dow Jones industrial average the NQ here the NASDAQ ended up closing the day Roughly down about 55 points here as we can see down 72 point 72 In terms of percent and if we want to get an exact number of where we ended up closing let's see here Roughly 4 p.m. Eastern Standard. Yeah pretty much roughly where we are right now about a point seven two percent red day in terms of the NQ so let's hop over to the S&P Let's do some technical breakdowns and all these major indexes so we can see where are we potentially headed over these next couple of days What are some things we can expect and what are my plans pretty much with the whole You know state of the market right now so hopping over here to the S&P 500 guys on the five day five minute The chart that I had pulled up in the beginning of this video It seems like the S&P is still in the downtrend guys We're still trending below some moving average resistances mainly the 180 SMA Which is this yellow line right here this level has been a resistance over the past couple of trading dates We'll take a look at this back on the third of May. We were at about 2950 for the SPX and we saw that drastic sell off to about 2900 and pretty much since then We've been noticing how the moving averages a they saw a bearish cross with the 50 SMA crossing below the 180 SMA and B this yellow 180 SMA We just talked about has been a resistance since this time period right We see the rejection here the next day, which was actually yesterday or actually the day after this first rejection We fell that was the very bloody day We fell very drastically the moving averages were resistances during that time period yesterday We had that bounce back day right the bounce back day after the extremely bloody day But towards the end of the day we saw that big sell-off where I made the video yesterday called a bull trap yesterday It was kind of a bull trap right we got rejected by the 180 SMA and it turned out that it was a bull trap right today We opened up very aggressively to the downside We hit about 28 36 at the lows which is crazy because we ended up opening or closing rather at about 28 80 roughly So we were down, you know 40 ish points Towards the beginning of the day today and from there we ended up scaling all the way back up to where we closed At about 28 70, but we're still under that 180 SMA here Struggling to get out of it with that level being a stronger resistance still guys, but nonetheless, you know today's volatility was crazy We gap down we filled the gap back up pretty much right at 30 40 point move to the upside followed by a 30 point 40 point move to the downside quite a volatile day here in the SPX And if we're going out on some longer-term charts here, you know It seems like we are maintaining that 28 55 level of support Which was an older resistance from back in the end towards the end of March in? 2019 so keep an eye on these levels as Tomorrow rolls in like you guys saw in the title of this video the title was something like Things can get ugly tomorrow could potentially get ugly with what's going on right China and the US They're currently in the talks of a trade deal Negotiating who knows what's going on, but Chinese official executives They came here from China and it's all going down right now guys pretty much real time Everything is going down. So do I think it can get ugly? I sure think it can get ugly tomorrow guys because there are a couple of different scenarios right either Trump is going to You know nail in the tariffs that are going to go up from 10 percent to 25 percent And this can have a huge heavy weight on the stock market right people might start selling off drastically This can end up tanking the stock market right, but let's say they miraculously come to a trade deal Which is scenario B for example, right? Let's say they do come to a trade deal This could send up the markets like crazy, right? They could send up the markets to all-time highs in the matter of a week two days three days Who knows guys, which is why I'm still being very very cautious because again Things can get ugly and it's kind of a toss-up right now I kind of want to see what's going to go on tomorrow and Analyze and reevaluate What's the market going to be looking like for next week this upcoming week right after we get some more insight on? What's going on in tomorrow's session and tomorrow's day in General so that kind of hints towards what I've been doing in terms of trading right yesterday I didn't do too much today I didn't do too much either to be completely honest with you guys And I'm going to be talking about that here in a couple of minutes after we go into some more Breakdowns here. So the NQ kind of broke that 180 s may support here We can clearly see it this level has been a support over the past couple of months We broke that level right not too good of a sign, but the fact that we're holding this 77 level 70 or rather 75 30 ish level as a support Which was an old resistance from back towards the end of March. That's a good sign here guys. That's a good sign That we're slowly potentially making a higher low here But again with the state of the market these technicals might not matter because if the market we get bad news tomorrow It can tank and blow through that Support with nothing with with really no effort right it can just plow right through that support We can be headed lower, but let's say trade deal gets done. We get some good news This can go up like crazy So we're just breaking down some technicals although the state of the market pretty much the gist of it is These technicals they don't have as much weight as they did when the market was in this period Where we can see and kind of clearly predict not always But we can predict where the bounce points were being the 180 SMA the 50 SMA right and and so forth Right, but as of now those are the only key levels for the NASDAQ. So back over here to the Dow Jones guys For those of you guys that have been watching this one We all know we're by that 180 SMA level of support We've been talking about that in these videos this yellow line that you're seeing we sold off We're maintaining it right now. It's a higher low from the previous The uptrend is still intact for the Dow Jones But one negative thing here is we're seeing the double top The big sell-off has led the Dow Jones break support after support starting off the 26 400 It then broke 26 200 right it then broke down below the $26,000 level And now we're trending right around that 25 800 spot putting us right at this 180 SMA where If we were to break that level, which again if the market goes into shambles tomorrow could happen We will be getting down to about 25 500 around 300 points lower from where we are right now Putting us towards that next support level, which is an old resistance from back in The beginning of february and if we look on the one day one minute, we actually touch that level Believe it or not guys, we gap down 600 points from yesterday You know from yesterday's high to where we you know got to the low today And that was actually the point of support that I was just talking about 25 500 And we bounced right off of that and ended up pushing up to 25 800 on the nice Rebound so momentarily is what I'm trying to say here We did break that 180 SMA and we rebounded quite nicely closing right above it So just keep an eye on these levels the 180 SMA here for the Dow keep an eye on 25 500 These are levels that are very very critical on a technical basis for this index So that's the overall market breakdown guys You know things can get ugly tomorrow if if there's a trade deal if there's no trade deal Tariffs, you know things are very up in the air, which is why again I'm being cautious and now that we talked about me being cautious and not really making any moves I guess we can trans trans. Uh, what's what's it called transfer into the next portion of this video where I'm going to talk about the trading update where I actually didn't really take any trades today Honestly, I was waiting for a tvix move We never ended up getting it and let me explain where I was waiting for a tvix move Where we didn't get which uh, which we didn't get and we can see again on the five day five minute chart here on the spx I was waiting to see a rejection Of the spx right around this level. I was watching this five day five minute chart in specifics Uh, specifically during the trading day today and I saw the big push up here up until this point in time I was watching tvix right. I didn't take any trades. I was hoping that the spx was going to get rejected here Slowly start to sell off so I can play tvix on a day trade. That's what I was waiting for right We started to get the confirmation of the rejection here. Everything was looking great We actually did get rejected momentarily here. I was watching it for a play But then we got bounced back up getting rejected again Towards the end of the market and we never really got that full-on sell-off that I was looking to see To push towards a lower low on the spx for me to get into tvix right and tvix is a volatility ETF that's typically going up in price when we're seeing a big sell-off in the market right and if we see on tvix You know when I was watching it it was right around these levels right right around 28 dollars We pulled back opened up a nice margin of profit from 28 dollars up to around 32 That was well over 10 percent right that was about 14 15 percent So I was pretty much looking to get into this one for one last run I can I was hoping right for potentially one last run where I would be able to you know Not saying it's the last run But one nice run if it were to recover from this pullback point right again 15 percent margin I was noticing some Support here. I was noticing the rejection on the spx, but we just never got that market sell-off We never got that big pop where I would have been able to capitalize on a nice move So honestly, that's why I didn't end up trading today right because again, I'm being cautious until the market Kind of picks a further direction, right? I want this trade war news to kind of um figure itself out Right, I want to see what's going to happen before I do take any swing Positions and I'd rather do that to play it safe. That's just my strategy You guys may not be agreeing with me. You guys may be buying large cap stocks right now. That's that's cool Right, that's that's cool. If you want to do that, but me I'm mostly cash right now I'm waiting to see what's going to happen just to play it safe, right? And this honestly if we do get a sell-off in the markets in the morning, you know, this could be a very good move Tomorrow, right? I haven't really given up on it yet I'm still simply waiting to see, you know, let's say the future's open up We see there. They're pretty red in the morning, right? This could be a good move in the morning tomorrow So again, like I've been mentioning all throughout these videos Sometimes no trades are the best trades, right? I didn't want to force anything I didn't want to take a big risk a big gamble. I feel more comfortable just waiting and waiting and waiting guys So let's knock out these two Call-outs from one of our discord members and one of our Subscribers and we'll see what's going on with these stocks. So the first one I have here pulled up on my phone is ticker symbol NVCR so let's check this one out NVCR and I haven't checked these ones out Before filming this video. So this is literally like a real-time reaction here. So, okay First thing I like to do is I like to go to my drawing tools and get a simple basic Support resistance tool here so we can see, you know, what are the levels on this particular stock? So we can get a better understanding of what is going on so we can see Okay, some key levels right here support at around 30 dollars. Okay support here at around 42 dollars And a support here at around 53 dollars So I don't really want to focus on these levels because we are already out of that, right? We pretty much broke out of this channel now We're focusing on this next channel here from around 42 dollars up to around 53 dollars. So this one's looking pretty solid right now, right? We're noticing how we got the double bottom on 42 dollars where for a double bottom guys What that means is it's a pretty bullish reversal move to the upside, right? Just like a double top what we saw in the Dow Jones is a bearish You know pattern a bearish potential reversal pattern to the downside, right double top here We sold off from there and you can see on the flip side with nvcr We got the double bottom and we popped out, right? Another good thing I'm seeing here is we're trending above the 50 simple moving average, right? The 50 simple moving average is this green line It's slowly starting to flat line and it's slowly starting to pop back up So this one could potentially be a bullish cross soon on these moving averages Another thing that I'm liking is we broke out of This resistance right here, right? We noticed we were trending below the 50 SMA We broke out of that resistance and then we broke out of the next resistance Which is roughly at about 46 dollars. So that's two resistances that we broke on nvcr So the price action right now is definitely looking a bit bullish And the third resistance we broke out of which was today with a very strong 3.5 percent day was this 180 SMA resistance We broke out of that and on the smaller term charts if we look on the 20 day one hour We're noticing a big Reversal pattern here. We're breaking out of resistances. We're getting the bullish cross here on the shorter Time frame and we hit the 50 SMA here on a higher low We bounced on top of it made a higher high a lot of bullish sentiment And what i'm seeing here for my analysis on nvcr so hopping back over here What I would like to see now simply guys is for us to just simply maintain the 49 level the 49 level Is going to keep us above the 180 SMA for us to hold it above Hold above that level as a new support And it's also going to hold us above an old resistance Which just happens to be around the same level at about 49 dollars. So if that's able to hold You know 49 ish dollars and we push up from there I think we'll be able to fill the gap up to the next resistance on this one Which is up to about 52 53 dollars and that's going to put us You know right at this resistance right around here the one that we drew and let's say we break out of that You know, we may be testing the higher maybe mid to higher 50 level So I do like nvcr on multiple different time frames here and we're noticing it's trending up on multiple different Time frames. So thanks for the call out. It's looking pretty good. I just I would just like to see it maintain The 49 to 50 level that is the goal here. So the next one he ended up asking me about Was sfm ticker symbol sfm. Let's take a look at this one very very quickly So this is one okay from what I'm seeing here again. This is a live reaction. I didn't look at these Before hand, let's take a look at a longer term chart here So what I'm seeing here on the three year one week chart is again, we have some support levels here I guess I have looked at this one before because I did not just draw this trend line Before this video it must have been a while ago. But anyway, that doesn't really matter What I'm seeing here is We're holding above that support at around what is like 22 ish dollars, right 21 to 20 dollars That's a good sign now the next support or the next resistance that we're seeing on You know sprouts farmers markets, which I don't I don't really know much about the company I'm just breaking down the technicals here. The next resistance. We're seeing is around 25 dollars So it's safe to say on on the longer term chart here We're trading between 20 dollars and 25 dollars. Let me quickly extend that And if we're hopping back to the 184 hour, you know, although we are holding the 20 dollar level of support What I'm not liking here is that we're still down trending on the smaller Not really the smaller. I guess it's smaller than the three year But the 184 hour chart here the half year chart. We're still trending down, right? We're not really seeing a break out a breakout pattern above moving average resistances I guess you can say we did get a breakout of the 50 sma Which is a good first sign that we want to break out that the stock wants to break out But we need to break out of the second resistance here being that 180 sma and let's say we break that Right that's going to be a pretty bullish reversal pattern to the upside This kind of reminds me of tesla right the same scenario here. I want to touch I want to play tesla if we break out of the moving average resistances at that point That's going to be a pretty bullish reversal pattern. That's the same type of thing that i'm noticing here on sfm so me personally, you know Could it reverse could it break right to the upside it sure could we're kind of halfway there at this point We're holding long-term supports, which is good But I want to see a further breakout before potentially playing this and let's see we get up to the 22s The high 22s again, maybe 23s and we break out You know that could be a good play up to about 24 80 and if we're just going to let's say some smaller term charts So we can see You know you can see what i'm talking about here. It's on the short term On a shorter term chart. It is breaking out right we noticed on the 180 sma or the 184 hour chart rather It was breaking out of the one simple moving average, but trading below the smaller moving or the other moving average Right, which is why it's important again to look at multiple different time frames because each time frame Is telling us a different story and you can catch some some stocks earlier if you look at some earlier Time frames and looking at this earlier time frame. It does seem like it is breaking out So as of now, you know on the longer term time frames It's almost at the breakout level and if we look at the smaller time frames It is breaking out So I'd wait personally until the longer term time frame Breakout and from there, you know, maybe 23 dollars up to 24 50 25 I think that's a good move But the fact that we are breaking out on this 20 day or 30 day chart whatever it is That is a good sign. So sfm nvcr Those are two breakdowns from again a subscriber a discord, uh, you know member And if you guys want me to break down any stocks for you Don't feel shy of messaging me on instagram on discord leaving a comment on the youtube video I'll break down any stock for you. Again, just don't feel shy So those are two that again a subscriber shouted out. Let's talk about ones that i'm personally watching I'm personally looking at some larger cap stocks here as potential plays So one of them is apple. We've noticed how bad apple has been getting beat I think it dipped below 100 or 200 dollars today and we're at the 180 sma support here So apple, let's say we do get a trade deal here You know, apple will be a very good bounce back play. I personally think right and again, like I mentioned in yesterday's video I think it's important to play both sides of the spectrum apple is going to be a play that Will be very good if the markets recover, right and tv ix again The opposite side of the spectrum is going to be a good play if the markets tank tomorrow, right? So let's say the markets rebound apple i'm liking it a lot, right? Another one that i'm liking a lot is facebook Right, this one's bound to recover especially if it's holding the 185 level of support here, right from 185 Back up to around 195. I think that's a pretty good move on facebook stock another one that did very well today And I got some questions about it was roku roku was up 18 dollars per share today They reported good earnings from my brief understanding. I didn't really dive too deep into them But they ended up going up 28 18 dollars on the day in my personal opinion guys on stocks like this You know, this is very difficult to go long on when it's already up 30 percent, right? Am I saying to short roku? Absolutely not right do your own research make your own decisions. I'm personally not doing anything on roku I'm going to be watching but all I'm saying is again for me to get into a long position up here I can't really justify that, right? Maybe if we pull back to about 74 75, which is a massive pullback at this point Maybe I'd consider a position but as of now, I personally think there's more Maybe potential downside here than there is more upside because the stock went up 30 percent But I'm personally not touching it based on the technicals that I'm seeing it's very overbought overextended that kind of scares me and as an investment guys, you know roku You know, it's going up against some of the biggest companies in the world. I personally think they're either going to get bought out eventually You know, they might get squashed out by either amazon, you know, uh, you know, uh apple You know, maybe facebook, right? Maybe one of these companies buys them out or just puts them out of business Who knows guys, but that's my little uh brief spiel here on roku Um, let's talk about some other ones in video the chip stocks in general have been getting squashed, right in video Um, you know, this one's pretty much on a bearish trend right now the 50 sma's crossing below the 180 I'm not really interested in playing this one. You know, we'll just take a look at some other ones You know amd this one's breaking key support levels right now, you know micron You know, these are all that have been getting killed over the past couple of days and it makes sense guys china trade war Has a bunch of impact on these for sure Um, let's take a look so crude oil gold Gold is still at that point where it's looking to break out, right? Keep an eye on this potential breakout above the 180 sma this yellow line that you're seeing if gold breaks out This can be a very good move, especially if the markets sell off Tomorrow so keep an eye on gold keep an eye on jnug. These are ones that i'm definitely watching So i'm going to end off the video here guys if you enjoyed this video feel free to drop a like Leave a comment down below subscribe to the channel follow the strive smart instagram If you want more updates and if you want to be connected with me the brand in general Follow my personal instagram all of those are linked down below And if you want to be connected with us on a further basis the strive smart discord strive smart facebook group Those are down below in the comments or the description rather as well So i'll catch you all in the next video. I hope you all enjoyed it found some value in it. Good luck Enjoy the rest of your night. Peace out