 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 looking at the Dow Jones the S&P 500 and the Nasdaq We're gonna be talking about two trades that I made today on the 7th of March and 2019 as well as taking a look at some other Stocks and ETFs that I personally see potential in over these next couple of weeks here in March And we're also gonna be talking about this whole Elon Musk situation that's going on right now with the rumors of him Possibly be suspended as the CEO of Tesla we're gonna be talking about that here in a couple of minutes But before we do hop into these topics of today's video for everybody out there that finds Valuing these videos the trading update videos the market update videos the personal finance the trading tips videos Feel free to go down below and hit that like button guys It really does support the growth of the channel and if you're new to the channel and new to the community Feel free to go down below to the description box and join our 100% free This core group chat as well as our 100% free Facebook group I guarantee you guys you will find value in those platforms 100% guarantee you that so let's talk about What's going on right now in the overall market starting off here with the spx so with about 17 minutes left Here in the market we can see the spx is down about 1% down about $26.20 the Dow Jones Industry industrial average tongue twister guys down about $230 down about 0.85% and the NASDAQ composite guys down a whopping $90 today so far down about 1.25% so it's looking like guys We're gonna end up closing the day today on a red day and for those of you guys that watched my video yesterday I was talking about how the overall markets, especially the spx have shown Indications of a further sell-off right we talked about how we got that double top a couple of days ago that we can see here On a closer term chart we can see the double top here Which was the first indication that we were selling off the second indication that we got a couple of days back as well Was the break below the 50 SMA support and the EMA that was the second and third Indications I guess you can say the the fourth indication that we got which is what we were looking for a couple of days ago Was the break below the support of this channel right here the uptrend channel that we were trading in over the past couple of Weeks pretty much right and what I was looking for today and what I talked about in yesterday's video Was the break below this 50 SMA support here on the 184-hour chart which would be the fourth indication that we're continuing to push down and that's exactly what we ended up Seeing today on the 7th of March with about a 1% push to the downside for the SPX So right now guys I'm sure you already can tell here from this chart here And of course if you've been doing your own technical analysis and research We are really selling off pretty hard in the SPX and the overall market So what am I watching now in terms of the SPX now that we've gotten about four Indications that we're pushing down the next indication. I want to see for further sell-off in the SPX Would be a break below this previous Resistance which is acting as a new support right now at about 2740 and for those of you guys that don't know whenever an ETF a stock an index or future is On an uptrend pattern is pushing up making higher highs like the SPX was here You know the points that we're pushing up to those are obviously going to be Resistance levels if we do end up breaking below them and of course if we're above them like we are right now They're going to be Support levels if we're pulling back down towards them if that makes any sense right and we can see right now We're pulling back down towards that old resistance, which again now is a new support level So we're testing this area. It seems like we're having some difficulty breaking below it here towards the market closed today We can see literally right at that point guys. No lie. Take a look 2739 We ended up bouncing here about an hour ago at 250 p.m. Eastern Standard Time And that happens to be literally right at that level 2739, you know Where we topped off back in the beginning of February in 2019 So this is the level that we're currently holding now and probably going to hold until the market closes here and about 13 minutes in the SPX and that's what I'm going to be watching for tomorrow morning during doing my futures analysis Doing, you know the pre-market analysis in terms of the three major indices here and of course looking at large cap stocks How are they performing are they selling off or some of the big name companies out there selling off heavily pre-market hours? Which would probably correlate to the futures of the major indices selling off, you know These are things we're going to be keeping an eye on Tomorrow morning to see where are we headed over the next couple of weeks in terms of the SPX? So my prediction guys, you know if we do end up breaking this level down here like I mentioned in yesterday's video We might be forming a head and shoulders pattern and we can see this would be the left shoulder in that scenario This would be the head and let's say we break this level tomorrow And then we start to see some pushback because at that point We're going to be very oversold in terms of the SPX So if we do end up pushing down tomorrow, maybe we see a day or two of pushback up next week That's going to look like a head and a shoulder pattern Right and for those of you guys that don't know about head and shoulder patterns Take a look deeper into that pattern. That's a very basic pattern that a lot of people out there Probably know but a lot of the beginners out there probably don't know and it's one of the patterns that We like to identify here in terms of our channel my channel here on youtube and our community You know again link down below the discord chat And you know, that's what I see is currently happening in terms of the SPX So keep an eye major level right here But as of right now all signs are pointing to more red in the s and p 500 now the dow Jones guys very similar Right, we're holding that old resistance at about 25400 as a new support level we're right at that level right now And just like the SPX guys, we had multiple multiple multiple Indications that we're selling off in the dow Jones if we take a look here on the 10 day 30 minute chart We can see that little resistance here at about 26200 dollars It wasn't really a double top formation like the SPX was actually let me go to that 20 day chart Well, you know, it wasn't really a double top. It was more of like A strong resistance here a couple of tops We can see one two three four different tops right around that 26 000 level of resistance And from there, you know, we got that first indication of the strong resistance meaning that we could be potentially selling off We got that sell off below the 50 sma and the ema which were both Support levels here on the 30 day 90 minute chart. We can clearly see that So that was two indications were selling off and obviously we broke below the support of that channel That we've been talking about over the past couple of videos and weeks honestly here on the channel Which would be the third indication and now today just like the SPX guys We ended up breaking that 50 sma support level on the 184 hour chart And again, like I mentioned about a minute ago, we're currently holding that older resistance as a new Support level. So what am I watching for the dow Jones very similar to the SPX? I want to see are we going to break the support level and sell off even further and from there We're going to be testing roughly about the 25 000 level Which would potentially be the next support we're heading to or we will be heading to you know in terms of the dow Jones But right now everything is pointing to red Everything is pointing to more potential selling in the overall markets here, especially with the dow Jones Now let's take a look at the nasdaq composite guys, which absolutely got obliterated today We can see it's falling even further from the beginning of this video just simply 10 minutes ago We can see from about 1.2 percent when we started off the video. We're down about almost 1.4 percent today in terms of the nasdaq we're down nearly 100 Dollars and we pretty much broke the entire uptrend pattern for the nasdaq We blew through the floor of that support level here on the 30 day 90 minute chart that we were trending above just simply two days ago We can clearly see we were at the support level for you know a couple of days here We can see it's a valid support level from the past back, you know from the beginning of february We held it once twice, you know three four five six seven eight nine a bunch of different times here And we clearly broke through that about yesterday and heading into today With the big nearly 100 point loss that we're currently seeing so right now guys, you know The nasdaq is looking like it's getting pretty pretty ugly Especially especially if we do end up breaking this 180 sma support level, which it does seem like we're still Holding above here towards the close of the market So tomorrow is going to be a very very big You know telling tale of where we're going to be headed over this next week because if we do end up breaking this critical support guys We're going to be headed back down to about 6,950 which would be the next support we're looking at since it was a previous resistance back in the middle of November so just keep an eye on these levels guys, but right now obviously all the indices, especially the nasdaq They're looking like falling knives with more potential selling Judging off of these technicals that we are seeing, you know in the major indices and that's what i'm really just seeing right now guys More red more red and i'm sure a lot of you guys know whenever the markets are red I'm trading tvix Which is exactly what I ended up trading today on the 7th of march In 2019 and for those of you guys that don't know tvix is my go to etf Whenever the markets are getting crushed or whenever the markets are just simply Down trending and selling off for the day, which is exactly what we ended up seeing today Obviously with the charts that we just saw, you know the spx the dow and the nasdaq Let's just take a look very quickly on a one day one minute basis They all sold off or one day one minute basis rather they all sold off pretty heavily today, especially in the morning Where I actually ended up trading tvix and for those of you guys that don't know tvix is an etf that trades Primarily based upon the spx the smp 500 and obviously whenever the spx the smp 500 is selling off tvix is going up in price so you guys can obviously see Where I ended up trading tvix if I traded it this morning I ended up popping in right on this big sell-off that we got from about 27 66 All the way down to about 27 42, which is about a 24 point sell-off And i'm sure a lot of you guys can imagine a 24 point sell-off in the spx that might have opened up a Six seven percent profit in tvix and you're exactly right because that's exactly what ended up happening from 32 Up to about 35 dollars actually no 34 and 60 cents that opened up a seven percent margin of profit in tvix and you don't really see charts like this all the time guys where it's literally straight up No pullbacks no consolidation. No stopping. This is literally a stock chart that went from 9 33 a.m At 32 dollars all the way to about 952 literally 20 minutes It took a seven percent move in 20 minutes with minimal minimal breaks minimal minimal consolidation points You can literally count one two here straight shoot straight shoot up chart here in terms of tvix And I know a lot of you guys have been following me for a while You know when i'm day trading i'm mostly aiming for a quick little one Two percent profit sure I could have got five percent six percent on tvix here But if I told you that I would be flat out lying because i'm more conservative guys I don't like to get as much profit per trade because a lot of times that I try and do that You know I end up getting bit in the butt and I do end up giving profit back to the markets Which is not what you want to do right you want to be able to be consistent be conservative You don't have to be conservative. You don't have to do exactly what I do Of course you do your own strategy whatever works for you But I'm just here telling you guys what I personally do and I'm more conservative and I feel comfortable Taking you know a one percent profit sometimes on a day trade maybe two percent And I know a lot of you guys have seen me take a three four percent profit sometimes But today specifically guys I literally got in and out within five six minutes on this tvix move And I took about a one point five percent profit and you can clearly see with the seven percent margin I was available 1.5 is pretty pretty conservative and that's exactly what I personally ended up doing Today right very simple so tvix was the day trade that I made today And I know a lot of you guys in the discord chat also traded tvix So if you did congratulations, you did very well today because tvix is still climbing at the close of the market right now We can see we're clearly up almost eight percent On this etf as of right now and another one that I actually took my profits on today Just to play it safe because I was already up nearly about I think like two percent or something was j and j And j and j is a stock that I've been holding now for about two three weeks I got in back here at about 135 135 50 And I've been simply holding this one, you know as a swing trade right and my goal was to sell at about $140 but today I actually saw J and j selling off pretty strongly and pretty heavily this morning as did a lot of stocks because the markets Were selling off and I kind of did panic not panic because I was already up I'm already up guys like I can show you guys right here from about 135 50 Up to about where we were this morning. I was already up a good amount about two three percent So I just wanted to lock in those profits while I did have them and potentially re-enter at a better price point Since we did see, you know, it's it's selling off very very strongly So I thought it was wise here to take my profits and I did take my profits at about $138 and 65 cents as I did see some very aggressive selling because I didn't want to lose You know a good amount of those gains that I did have simply by, you know, just holding through So what am I what am I going to do right now guys? I'm potentially going to re-enter into j and j if we do see a hold Above this 50 SMA support over these next couple of days of trading. So overall guys, that's what I ended up doing today I just took my profits on j and j about a two two point two percent Profit there and I ended up day trading Tvix for a nice quick in and out 1.3 1.4 Profit so that is what I did today Let me know down below in the comment section what you guys ended up doing in terms of your trading and now let's talk about What went down today with elan musk and tesla stock? Let's get into it So we all know by now tesla and elan musk have problems with the sec Right elan musk does not like the securities and exchange commission whatsoever And for those of you guys that have been following tesla tesla stock and just keeping up with the company Over the past couple of months you saw that a couple of months back in the middle of 2018 elan musk sent out a tweet that tesla will go private at $420 funding secured and pretty much this violates a lot of different laws with the sec because it can influence You know investors to push the stock price up and it just influences the stock price In general and since then obviously, you know elan musk came to you know an agreement with the sec He's going to have his tweets monitored There's going to be a lot of monitoring with him and the public in terms of communication Right and we saw a couple of weeks back elan musk and twitter back at it again with a bunch of more drama and him really just poking fun I think at the sec really just like you know, you know what I mean, right? I feel like he's just poking fun I feel like he's just trying to to bother them on purpose or something I know you guys relate and understand what i'm saying and you see the tweet up here on the screen right now And i'm reading it off of my phone This tweet on the 19th of february is what the sec is currently investigating and what the sec You know wants to really just get musk in trouble for Again, and we can see 4 000 cars being loaded in san francisco for europe This was before the march 1st trade deadline Which is obviously irrelevant now because it was pushed back But back towards the end of february just a couple of weeks ago You know tesla was trying to push as much of his cars, you know back to europe and over to china We saw all of those, you know big boats taking the cars over there to avoid, you know further You know, uh, what's it called tariffs on the cars because we all know elan musk and Trump and you know, not really elan musk, but trump and china They were he was going to raise the tariffs from china You know 10 to 25 and to avoid paying that musk was trying to send as much cars over there as possible Which doesn't make sense right and at the bottom of that tweet you can see here again tesla made zero cars in 2011 But will make around 500 000 cars in 2019 So just like the funding secured at 420 tweet This is a tweet that can influence investors out there to push the price of the stock up And this is obviously violating those terms that him and the sec came to a couple of months ago Which is why the sec is investigating him again guys. So I feel like elan musk right now Is just out of control right we obviously all know that this man is just out of control He does not care. He likes poking fun at the sec He likes to do little things and try to get away with it But even though he can't get away with it, you guys know what I mean He just loves loves just playing this cat and mouse game, you know with the sec So musk is facing significant fines for his violation with the sec due to his tweets regarding The production forecasts for the model 3 part of his agreement with the sec was to have any public communication monitored Especially his tweets and the fact that this tweet was send out to shows that they're not being monitored whatsoever The tesla staff and employees whoever is monitoring elan musk really isn't doing their job either They don't give a crap elan musk doesn't give a crap and he does it behind their back Who knows what's happening right, but they're just not being monitored in in terms of his tweets and his public communication Right and obviously tesla is being opened up to new lawsuits that may cost the company a lot of money That they couldn't be putting back into their business Which crucially crucially crucially needs as much funding and as much money as possible right now To really push out the model 3s the model y now We're seeing is going to be a new car coming to you know the company the new version of the model y So this is just pretty stupid in my opinion. It's bringing unwanted attention to tesla as a company and and honestly Elan musk could be suspended as the tesla ceo Due to this because this is his second violation and under One year with the sec and for those of you guys especially those of you all in the stock market investors traders, whatever You know the sec is Is an organization that does you should not want to mess with them, right? You want to abide by their laws abide by their rules and really just play it out smoothly, right and elan musk He's doing the opposite right he likes to cause as much friction as possible He likes to piss off the sec and he just likes all of the drama So this is just the news right now guys, you know the tweet that I just showed you the investigation is going on And take it for what it is right elan musk he potentially could be suspended or this could blow over He might not get suspended, but they will get fined a hundred percent and they will have lawsuits no matter what I personally think so what do you guys think about this right? Is he going to get suspended what is going to happen? But in terms of the price of the stock tesla today We saw it actually went up to about 284 dollars and then we saw this news came out I forget did it come out like middle of the day today? It must have because at this point 283 dollars per share it tanked under nine dollars roughly about nine ten dollars per share In the matter of about from 12 p.m. Eastern standard to about three p.m Eastern standard in the matter of three hours tesla stock fell about three percent to the reaction of this news and actually guys, excuse me We're seeing some crazy unusual not really unusual But some crazy movement right now after market hours in terms of tesla stock Literally when I was recording this video in between the clips From the previous clip to this clip in this video this stock popped up Look at this green candlestick right here from 267 or 276 rather at the close all the way up to 283 So that was a big big big move in about one two minutes here 2.3 And now we're consolidating right here. So let me actually see what the live news is saying here if there's anything, um, you know new Not really seeing anything uh new here, but that's pretty cool, right? That's pretty cool to see the stock shot up all the way But anyway, what do you guys think about this? Please? Please? Please let me know the uh, you know Let me know down below in the comment section What you guys think and let's talk about very briefly what stocks need tfs I'm watching over these next couple of days and weeks here in march of 2019 And just to keep it very simple with you guys We're back in that state of the market where I'm kind of getting nervous to swing trade stocks again Especially with the overall market, especially the spx showing more potential signs of a sell-off and by this I mean, you know Just like back in october and november and december back in 2018 when we had this huge sell-off, you know, this wasn't a time To swing trade stocks and obviously the technicals aren't looking as bloody as this obviously It's very clear But this could be the beginning of more selling off Which scares me to buy and hold specific stocks as swing trades Which is primarily why I did end up selling off j&j today And yes, I'm still holding coca-cola with an average at about 45 dollars and I'm not too heavily into that position I have not yet to add more to that position But those are the only or really that's the only one that I'm holding right now in terms of swing trading So in terms of you know, what I'm watching guys over these next couple of days I'm really going to be just looking at some inverse ETFs And market ETFs that trade based upon the overall movement of the market like tvix If we continue to sell off your guys, you know, I'm just going to be trading in and out of tvix Every single day like I was in between, you know, october october and you know, december of 2018 Like I'm sure a lot of you guys already know who are watching the channel back during these time periods I was literally selling or trading it rather it feels like every single day of the week I was trading in and out of tvix. So if the markets continue to sell off tomorrow You know, this gonna that's going to open up a ton of margin in terms of tvix And especially next week, let's say the markets continue to sell off. They continue to sell off This is going to push up and open up a ton a ton of opportunity In terms of day trading so tvix guys actually the go-to number one ETF right now That I am watching over these next couple of days. Of course some other stocks, you know, including tesla Tesla's a stock that doesn't actually do too poorly when the markets are selling off, believe it or not, right? We can see back in, you know, the october december days tesla stock actually did very well We can see from 260 up to about $375 that's where it went while the market as a whole was selling off Am I saying that tesla stock is you know a stock that's uh, you know sell-off proof You know when the markets are selling off, absolutely not but just judging off the previous You know market movement That is what I see and if the markets do end up selling off further and I noticed tesla's pushing up You know this could be an opportunity for me to hop into tesla as a potential day trade Maybe even as a couple of days, you know as a swing trade if the technicals are looking Good and as of right now guys, you know, we're holding above that 275 support very nicely And honestly if we start to push back up into the 280s Mid 280s, maybe the 290s That's going to be a good sign that we're slowly heading back up to the top resistance portion of this channel that we notice here on tesla stock So i'm also watching cron here ticker symbol c r o n we noticed the margin of profit opened up in cron From the sell-off at about 24 dollars down to about 22 dollars That opened up a nice 10 margin and we're still holding above that 50 sma nicely So i would like to see a potential pop up here so i can profit on the upside here in terms of ticker symbol c r o n And uh guys when i'm telling you that's all i'm really watching right now in terms of aftermarket for tomorrow That is what i'm watching really just cron and tvix because i've had the experience when the markets are selling off I do very well day trading tvix and i'm just keeping it real with you guys So that's what i'm looking at in terms of tomorrow i'm sure they'll be there will be more opportunities once The futures open up tomorrow morning We get to see what the markets are likely going to open up and of course we're going to be seeing You know large cap stock movements and other stock movement here in my watch list And that's going to open up even more opportunities, but at the time right now at the end of the of the market You know, that's what i'm personally watching for tomorrow And if we take a look at some other charts, you know, none of these charts are screaming You know as a buy right now, right? We can see walmart is not looking too well You know didn't hold that trend that we wanted it to square You know, I might as well just take this one off my watch list This one's looking pretty bearish right now, especially if it breaks the 180 sma You know another one we called out yesterday spotify spotify is not looking too well Not looking too great right now. So until these charts, you know start to open up with some upwards movement I'm not really going to be looking to hop into them, right? We can see cat here sold off pretty heavily You know billy's not looking too great either. So I want to see, you know, some push to the upside in these stocks before Trading them. That's just what i'm looking at right now. So I hope you guys enjoy this video Let me know down below in the comment section what you guys ended up trading today What stocks you're watching I would love to know if you enjoyed this video Feel free to hit that like button leave a comment and subscribe Follow me on instagram as well as on twitter all of those are linked down below and don't forget get into our 100 free discord and facebook group. Those are both linked down below in the description box I'll catch you all in the next video. Thanks again for watching. Peace out