 What is going on everybody, Astos here. Welcome back to another video. So in this video, we're going to 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 today. What did I end up doing on the 8th of May in 2019? Today, we're going to be talking about that in today's video, as well as my mindset and my plan heading on for the rest of this week and heading into the rest of this month in May with a couple of stocks and ETFs that I'm personally watching. So for everybody out there, before we do get into this, for everybody out there that finds value in these videos, you enjoy the content and you want to be connected with our community, the StriveSmart community on a further basis, feel free to go down below and hit that like button. It really supports me and I also have two links in the description box for you, one of them being the Discord Group Chat, the StriveSmart Discord Group Chat and the other one being the StriveSmart Facebook Group. Feel free to join both of those communities, very solid communities. We're talking day-to-day about stocks, investing, trading, news, strategies, stuff like that. You guys, if you're not already in there, you want to be there, I guarantee you'll find value. So without further ado, let's talk about what ended up happening today. You saw in the title of the video, is this or was this move that we saw today a bull trap? We're going to be talking, do I think, is this a bull trap? So before we get into that, let's just go over a quick rundown what ended up happening today. So the SPX, the S&P 500, the 500 largest publicly United States traded companies ended up closing the day down about $4.63 down about 0.16%. The Dow Jones Industrial Average ended up closing the day up very minimally, very minimal green day up about $2.24 here, up literally 0.01%. Pretty much nothing in terms of green, but it's still technically a green day for the Dow Jones. The NASDAQ, here we can see it's currently down about $8 down about 0.1%, but this is the future. If we're going over to the one day, one minute, so we can see exactly where we ended up closing at about 4 p.m., we can see this big sell-off towards the close of the market. Ended up closing about four points lower from where we are now, so roughly about a $12 red day for the NQ, also known as the NASDAQ. So now that we got a quick little rundown, let's talk about some technicals here and why I personally think today was a bull trap. And for those of you guys that don't know what a bull trap is, it's pretty much in very technical or very basic terms here. It's pretty much when a stock kind of has or an index, an ETF, a future, it kind of has a false breakout where we're kind of breaking out of, let's say, resistance levels. In this case, you know, breaking out of the 180SMA, these different SMA resistance levels where the pattern is kind of telling us, okay, maybe we're reversing to the upside here. It kind of brings in some bulls pushing up the prices, you know, pushing up the price of the index, the stock, or, you know, the ETF stuff like that. And then all of a sudden we see a big sell-off kind of, you know, leaving the bulls in the dust. So they get in, they try and go long, right? Long meaning they want to hold a stock and index whatever for a couple of days, a couple of months, whatever, and then the trend reverses rapidly and then they kind of get stuck with a little loss there. That's kind of what a bull trap is. So do I personally think that is what's happening today? That's what happened today? I kind of do think that based off these different time frames that we're going to show you, that I'm going to show you here on this video, so we can see, you know, for the whole day pretty much, we were uptrending above the 180SMA, above the 50SMA here for the SPX on the intraday chart. And then all of a sudden, guys, you know, once we almost hit $2,900 again, which just happens to be the resistance from earlier in the day, we ended up tanking nearly 20 points in the S&P literally in the last 30 minutes of today's trading session. Take a look from 2896 all the way down to about 2878. So that's about an 18-point drop roughly, you know, roughly almost a 20-point drop there. And if we're going over here to some other time frames, we can see with this drop, guys, you know, we actually got rejected by a 180 simple moving average. And this kind of shows us the bull trap a little bit better here, right? Take a look over the past couple of days, really just from yesterday, the 180SMA or the 50SMA rather was acting as a resistance, right? We ended up getting rejected, sold off, rejected. And we kind of got rejected this morning by that same resistance level as we can see now, right? We almost sold off, but we bounced for a higher low from where we ended up getting to the lowest point yesterday, which was kind of the start of the reversal pattern, right? Notice the low here at 2862, higher low at about 2874 and from there, you know, we slowly started to make higher, highest, higher lows and reversing out of their resistance. And this is in my opinion where the bull trap started to form, right? We started to hold those levels as supports in terms of the moving averages here rather than resistances like yesterday. And this kind of brought in the bulls for pretty much the whole day, right? And then once we got rejected aggressively 30 minutes with 30 minutes left in the market, that's when the sell-off started to kick in, kind of trapping those bulls, right? And we can see, you know, we got rejected by the 180SMA resistance again. Like I said, that's pretty much been a resistance here over the past couple of days. And this leads me to believe on a technical basis here and this is kind of contingent on whether Trump tweets something positive, negative, whatever, but this kind of leads me to believe that we might sell off even further tomorrow based on this aggressive sell-off that we saw. And of course, this is mostly going to, well, we'll understand, you know, where the trend is heading tomorrow morning, right? When we see the futures, right? Pre-market futures, large caps. How are they moving? That's really going to tell us, you know, are we going to sell off tomorrow? Yada, yada, yada, are we going to pop back up? Stuff like that, right? And if we go over here to the ES, which is the mini S&P future, let's see, you know, how we've been moving. So since we did tank, we closed. It seems like we have been down trending in the after hours as well. So hopping over here to the Dow Jones, very similar, right? We were trending up, sold off very aggressively towards the end of the market here, hopping back over to the 184-hour chart. In yesterday's video, we were talking about how the Dow was maintaining the 180 S&P support on a longer-term chart. That was a good sign that the trend was kind of still intact, right? This is a higher low from the previous. That's pretty solid, right? But the fact that we saw a rejection here on the five-day, five-minute, just like the SPX, that kind of brings some warning signs to me, right? Are we going to sell off tomorrow? I think it's very possible, based off of what we're seeing here on these technicals. So the Dow Jones on the smaller-term chart, there's not much difference to the SPX. And the main key support that we need to watch is this 180 S&P on the longer-term chart. If we break that, just like we talked about in yesterday's video, we might be headed to $25,500 for the Dow Jones, which is the next support. So the NQ, this is one that's very similar to the Dow Jones in terms of its technicals on the longer-term chart. We can see NQ currently at the 184-hour chart, 180 S&P resistance here, this yellow line that you are seeing. We're kind of breaking below it here after market hours, as well, since we are trending down even further. And with the big tank that we saw, again, towards the latter half of the market, really the last 30 minutes, this NQ future here in the index really fell down pretty aggressively, right? And if we go back over here to the five-day, five-minute, we can kind of see a similar pattern where we're still under-moving average resistance levels right now. We are still making lower highs. We're in the process of potentially making a lower low. Let's say we have an aggressive red day tomorrow. You know, the next spot for the downtrend to continue for the lower low to really form, the next spot we're looking for it to go under is $75.81. So keep an eye if it does some kind of move like that tomorrow. If this trend, the one that we're seeing right now, really keeps its form, keeps intact, and heads into tomorrow. So there's honestly not much more to talk about, guys. In my opinion, you know, again, this was kind of a bull trap. We saw the big sell-off towards the end of the market, right? This kind of confirms to me that it was a bull trap. Let me know down below what you guys think about this. And let's say we didn't really get that big sell-off towards the end of the market. Let's say we ended up breaking those levels of resistance at the 180S who made towards the end of the market. At that point, you know, I wouldn't really be 100% set on it being a bull trap, right? Because at that point, let's say we ended up closing strong. Let's say we ended up doing something like that, maybe cracking above 2,900. At that point, it could be a bull trap, but we weren't or it wouldn't have been 100% confirmed of it being a bull trap, right? So just keep an eye on those differences there, right? The fact that we got rejected, that kind of confirms that it was a bull trap today. And again, let me know down below what you guys think about this. Do you think the markets are going to continue to sell off? That was pretty much the purpose of this video, right? Really going over, is it a bull trap? Is it not more selling? What trend am I personally seeing? You know, that's what I honestly did. So in terms or what I thought rather, so in terms of my trading today, guys, I'm going to be honest, I didn't really take any positions. I actually didn't take any positions today, but I did end up closing out my Facebook position at a minimal loss here. And let me explain why I ended up doing this. So I ended up closing my Google position yesterday, right? Very minimal loss there. Really nothing crazy of a loss at all. And I ended up closing my Facebook position today for kind of the same reason as I closed my Google position. I kind of want this whole trade deal drama, the short-term drama that we got to really, how can I say this? Fert to blow over, to be quite honest with you. Once it blows over, if it blows over, that is when I'm looking to get into some more swing trade positions. But with it still going on, right, they're meeting on Friday. I think they're actually meeting on Thursday as well. You know, this can definitely push the market down a bit further, which would in turn, you know, definitely in my opinion, drop Facebook because, again, it's a large cap stock, right? It's in the hundreds of billions of dollars. That is kind of, you know, kind of inevitable, right? When the markets drop and if they drop aggressively, Facebook is going to follow. So I cut out a Facebook just plain and safe here, guys, to be completely honest. I kind of want to have cash on the sidelines for potential big move on TVIX tomorrow if the markets do end up selling off like I think there is a solid chance for them to do. And just quite honest, I just want to play it safe, right? So one that I'm actually still in, which is more of a defensive stock, I think, you know, it fends better in terms of, you know, times where we're selling off in the market is proctor and gamble, right? And this one, don't get me wrong, it's kind of like in terms of the pattern here, it did sell off, right? It's not immune to drops, but it's better in my opinion than holding Facebook through a time period where we're pulling back. And that stock is proctor and gamble, right? I'm minimally green on this one. This is one that I was in from the earnings report day that it had a couple of trading days ago. And I feel comfortable holding on to this one as of right now as a swing trade, right? So will that change? Maybe, maybe not. I'll let you guys know, of course, in the trading update videos, but again, as of now, PG, that's all I'm holding in terms of swing trading and I didn't really do anything in terms of my day trading today, right? Because I didn't honestly want to get caught up in a bull trap, right? I kind of expected it from the morning we were talking about it in the group chat and that's just my thinking, right? Sometimes, like I mentioned a bunch on this channel, no trade at all is the best trade, meaning you not risking your money on a potential funky day is kind of the best because you're not going to lose money. You're guaranteed not to lose money, but you're also guaranteed not to make money, right? If you're just sitting in cash. So today, I kind of made that decision and I felt comfortable with it and that's pretty much it, guys. So let me know down below, what did you end up doing? So what am I watching and what my plans are? Pretty much holding cash, like I just said, right? And I'm looking to play TVIX if the market does end up getting rejected at those levels that we just talked about on the major indexes tomorrow. So the S&P, if it's gapping down pre-market if large caps are looking ugly in the morning, I'm looking to trade TVIX as a day trade pretty much in and out for the entire day kind of like I did yesterday. Disney is actually a stock that just reported earnings today. I actually didn't dive into their earnings, but if we look on the live news tab very quickly, I'm sure we'll be able to see what they did end up reporting. And I did actually get a notification from Robinhood that they beat. I think they beat by 2% if I'm not mistaken, right? So let's see if we go over here very quickly. If not, it's no big deal, right? If we can't find it, let me see. Am I just blind, guys? Am I missing it? Do you guys see it? Do you guys see it? Here it is. Walt Disney beats on EPS by one. The estimate was $1.58 for EPS. They came in at 1.61. Sales came in at 12, 14, rather 14,092 versus the 1434. So based on the two key metrics, EPS and revenue, Walt Disney beat on both of these. And I do believe it was 2% of a beat on EPS, which is pretty solid, right? So those numbers, you know, the brief numbers that we just looked at, those are pretty solid, pretty positive for Disney. So keep an eye on this one, right? This one seems like it's been fending strong. It's been holding strong through this turmoil that we've been seeing in the market. And with a positive earnings report, this actually could be a potential play, right? The trend, if we look on the 5-day-5-minute, hasn't really been broken or hasn't really been bothered too much from, excuse me, this market sell-off that we saw, right? We pretty much got all the gains back from yesterday's loss. We got them back today. The stock pumped up on earnings. Keep an eye on this one. It could potentially be a day trade on an earnings, positive earnings play tomorrow. So Disney, TVIX, in terms of, you know, what I'm watching, those are the top two. And honestly, guys, I'm watching a lot of the large caps just in case the markets recover. Let's say we miraculously get news that the trade deal is happening within these next couple of days, right? These are stocks that are most likely going to be very, very helped during that time period. They might go up another 5-10%. They might get back all the gains that they lost. But let's say the tariffs go in place that increase from 10% to 25% goes in place. Who knows how the market will react to that? That might be pretty ugly, right? That might send stocks down even lower. That's what people think. So this is just a time period where I'm sitting back being cautious, mostly cash, not looking to swing trade a bunch of things, mostly day trading right now. And this is kind of like I was a couple of months ago, back in October to December, when that whole 20% market correction occurred. I was very similar in terms of my tactics, my mindset and what I was doing with my money, right? Very, very cautious, mostly day trading, not having capital, too much capital tied up in terms of swing trading just in case the market took a downturn. You know, I was just being very, very cautious. So Disney, TVIX, you might as well just keep an eye on, you know, the big tech stocks like Apple, right? Apple's taken a beating and hit 2.15 nearly. Now it's selling off. It's holding a support at $200. Maybe we can see a bounce back potential day trade here on Apple. Keep an eye on these ones that have gotten beaten down, guys, these large caps, you know, Facebook. Not as bad as, actually might be as bad as Apple, right? We went from 202 down to about 188 today. You know, Amazon, Amazon was at about 1970 a couple of days ago. Now we're seeing a dip, but we're also maintaining the 1910 level of support right now. Maybe we can gap fill back up to 1950. Kind of risky if the markets do sell off. This one's most likely going to sell off, but it never hurts to just keep an eye on it, right? Ticker symbol AMZM. If we're looking at crude oil, I've been getting a bunch of questions on crude oil. This one, guys, it seems like it does not directly follow the market, but it seems like when the overall market is selling off, crude oil is doing the same. You know, it's still pretty much trading below moving average resistances right now, making lower highs, making in the process of making lower lows. We're seeing a bearish cross right here of the 50 SMA below the 180 SMA. That's not looking too hot, right? If we wanted to see a reversal on crude oil, you know, we'd need to see at least a break out of these SMA resistance levels, most likely or mostly, most importantly rather, the 180 SMA at that point, if we slowly start to get back into the 63 level, maybe 6350, that could be a good breakout, maybe a reversal pattern in crude oil. Gold, gold's another one to keep an eye on. This is going to be interesting, right? We're at a resistance right now at the 180 SMA, very similar pattern to crude oil, but when the market sold off aggressively a couple of days ago or yesterday rather, it seemed like gold did very well, right? So if the markets sell off, maybe Tuesday or Thursday rather and Friday, these last two days of the week, let's say we get more bad news, the markets sell off like crazy, right? Gold most likely is going to do good and if we break out of the 180 SMA, JNUG, which is an ETF that tracks gold that goes up whenever gold's going up, this can be a very good play. So keep an eye on that, keep an eye on gold. You know, Tesla, let's just go over Tesla for fun guys. This one has been selling off even more recently. You know, we thought, you know, it seemed like it was immune to the market sell off back in October to December, but now it's a very different, you know, sentiment. We got the bad earnings, right? Earnings were terrible. One of the worst that I've ever seen from Tesla, maybe the worst and from there, it seemed like we've been selling off, right? So Tesla, based on the pattern we're seeing right now, this one could definitely be heading back to the 230s, maybe a lower low, maybe even below 230. Who knows, maybe down to 220-ish dollars, that, you know, general range. This can 100% happen. So that's pretty much it for the video guys. Let me know if you thought today was a bull trap. Let me know what you are watching. Me, again, TVIX and Disney are my top two tomorrow. Positive earnings for Disney that we saw from these brief metrics. This can be a good day trade tomorrow. Watching the large caps to see, are we gonna bounce back? Are we going to have a sell off tomorrow to play TVIX? These are different things than I'm personally doing. So if you enjoyed the video, feel free to go down below and hit that like button. Drop a comment. Let me know what's going on in your life. Subscribe to the channel if you're new. Hit that notification bell so you're notified every time that I do make a video. If you want to stay further connected with me and the community, feel free to follow me on the Strive Smart Instagram. My personal Instagram is down below as well. The Strive Smart Discord group chat, Strive Smart Facebook group. All of those are linked down below if you want to stay further connected. I really appreciate every single one of you out there watching the content, liking the content, subscribing. It means a lot to me. I'll catch you all in the next video. Good luck tomorrow. I hope you all did great today. Peace out.