 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 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 13th of March in 2019 as well as taking a look at some other stocks and ETFs that I personally see potential in over these next couple of trading days heading off into the end of March in 2019 here in the stock market but before we do get into that guys for everybody out there that finds value in these videos you enjoy the content here the market updates the breakdowns feel free to go down below and hit that like button it really does support the channel and supports me in general and speaking of the channel guys we actually just hit 2000 subscribers on the youtube channel I really do appreciate you guys and I wanted to thank everybody out there for watching the videos the long-term supporters people that just started watching me a couple of days ago it means a lot that you guys you guys all thanks to you guys got me to this you know to this you know realm of 2000 subscribers I never really thought we would get this far and the fact that we did absolutely blows my mind so I really do want to thank you from the bottom of my heart and let's just get right into the topic here of today's video starting off with the SPX the S&P 500 index the 500 largest publicly traded us companies we ended up closing off the market about two minutes ago at 2810 dollars up about 19 points nearly 20 points on the day up about 0.7 percent here the Dow Jones industrial average guys up about 150 points up about 0.6 percent and the NASDAQ composite guys the best day out of the three major indices we cover on this channel up about 60 points up about 0.8 percent at the close of the market so we're at levels right now guys we're you know at a point in the market where we're continuing to push up we all know this by now the markets have been soaring over the past couple of days and we're testing highs that honestly I didn't think we were going to be testing here you know for those of you guys that have been watching the channel over the past couple of months you know we and me including right me included we thought the market was bearish right we thought the market was going to push down and honestly we've been proven wrong and the levels that we are at right now really constitute a test probably for all-time highs in the SPX like you saw in the title you know is the SPX headed to all-time highs we're going to be covering that in today's video on a technical basis here technically speaking so let's hop back to the SPX the S&P 500 are we going to test all-time highs so for all you guys that have been watching the channel you know the two resistances that we've been talking about over the past couple of videos the first one being at around 2790 which we passed today and the second one being at around 2815 which we actually momentarily passed today but we clearly see we ended up closing the day about five points below this resistance so let's see on the one day one minute what ended up happening here so we can see you know more towards the beginning of the day today around 11 30 a.m eastern standard time we hit about 2815 and from there we saw this double top pattern which in my eyes I was like okay this could be a potential sell-off to the bottom a potential rejection on this you know at this resistance at about 2815 so at this point in time I was thinking we could potentially be headed back to about 2790 and potentially you know back into that horizontal pattern that we were trading in a couple of weeks ago but then we saw a little bit later on in the day we ended up holding the 180s and mays support here on the one day one minute and we actually ended up breaking out momentarily like I said out of that resistance all the way up to about 2820 and from there we saw some bearish fluctuation and we ended up breaking the 180s and may we ended up trending down to about 2810 and that's where we ended up closing the day right we ended up trading within this little mini horizontal channel here on the one day one minute between about 2810 as a support and 2815 ish as the resistance and that's where we ended up really pushing towards the end of the day so what am I going to be waiting for tomorrow for the spx to potentially get out of this resistance to test the next resistance which in this case you know is going to be around 2870 well you guys probably guessed it I want to see a break out of this 2815 to 2820 resistance for it to hold that level as a new support for us to potentially fill back up to 2870 and if we break 2870 guys that is going to be a scary sight in terms of us potentially getting to you know the all-time highs and why am I saying it's a scary sight right why am I saying that well I'm a long-term investor right I like buying stocks when the market is down right I like buying companies when they are cheap right when they are considered pennies on the dollar even though the markets are at all-time highs right now you know the levels that I like to see are lower levels that's why I was buying stocks during this crash when other people were scared right by when others are fearful and be greedy what's the what's the quote I forget what the quote is off the top of my head but you guys know what the quote you know you guys know the quote I'm referring to right and the fact that I'm saying that I don't want to get up here up to these levels is because I want to buy more stocks for my long-term portfolio that's just the complete honest truth here but on a technical speaking basis on a technical basis here I honestly do think we're breaking out here I honestly do think we're going to be headed back to about the 2870 level due to us holding this higher low from the 2730 ish level from a couple of days back which really constitutes the continuation of the uptrend pattern and the fact that we are testing this level today guys and the fact that we did have two three straight days of nice bullish push you know I honestly do think we are probably going to continue this run and break out of here but let's say tomorrow we end up topping off here and we slowly start to sell off my opinion on that matter is going to change which is why right now I'm kind of on like a 5050 basis here and I want to see what the futures and the large caps are going to be doing you know tomorrow morning before really making my full sound opinion on whether or not we're pushing up here so I think we could potentially push up but the fact that we're struggling this resistance right now you know that does give me some hope that we might sell off which in turn is going to open up some opportunities for longer term positions at better valuations right because although I am a trader I love trading the stock market I'm also a long term investor who likes to buy stocks lower right remember back over the past couple of months guys I was buying Facebook I was buying Apple down here I was buying a couple of other stocks down here which I'm highly in the green right now I'm up like 15 20% on some of those positions that I was buying and I want to get back to those levels I'm going to be completely honest with you guys I don't get scared when the markets are falling down unlike other people because I view those as buying opportunities so tomorrow I'm just going to be waiting for a very simple thing right I'm going to be waiting for are we breaking up which is going to be a sign that we couldn't be headed to the 2870 level or are we going to get rejected and start to slowly push down and if we break the 2790 support and we start to push down here potentially break the 50 SMA in this trend line that's going to be a sign that we're pushing down we could be headed back down in terms of the SPX which is honestly going to make me happy guys because I like buying stocks at cheaper valuations which makes sense for the long term investors out there so that's what the SPX is looking like right now in my eyes guys you know I think you know we are at you know a critical point right now and I'm sure a lot of you guys can attest to that the Dow Jones here it's still at a point of resistance unlike the SPX where we're really you know out of the 50 SMA in that first level of resistance at the 2790 level the Dow Jones is still technically speaking here under the 50 SMA resistance and it's under that first resistance that we see here from about 25,750 ish dollars from back in the beginning of December and this is mostly because Boeing stock we all know what happened now the two you know plane crashes in the six month period Boeing stock has been getting slaughtered Boeing stock has a huge weight on the Dow Jones and let's just take a look at Boeing the fact that Boeing has been doing poorly this has been dragging and not really allowing the Dow Jones to flourish in these green days that we've been seeing as much as you know the SPX and the uh what's what is it the NASDAQ right it makes sense Boeing has dropped from 345 down to about 360 it's lost like 80 90 points in the matter of a couple of days here which clearly has had a huge pull to the downside on the Dow Jones so what am I waiting for here guys technically speaking like we've been talking about the Dow Jones is still on a higher low it's still on a continuation uptrend pattern here the higher low from the previous it's looking good in terms of its uptrend pattern but again the resistance points are there still they're very um you know it's having difficulty breaking out of those levels so what am I going to be waiting for for the continuation well I'm going to be waiting for a break above the 50 SMA and then a break above this first resistance at about 25 750 and then a break out of this next level which is going to be at around 26 200 but the first levels like I said guys we need to break out of this and then the next level there but let's say tomorrow we have a red day we start to sell off and we break this trend line we start to get rejected even heavier by the 50 SMA we start to test this support level here which I should draw out for you guys to give you a better understanding at about 25 400 we start to test that and we start to push down you know that's going to be the head and shoulders pattern that we were talking about and from there we could potentially sell off even more in terms of the excuse me in terms of the Dow Jones so that's what I'm watching here guys in terms of the Dow Jones honestly if Boeing stock didn't have that problem with the plane crashes in Ethiopia you know I honestly think that the Dow would probably be in the $26,000 level right now maybe even all the way up here you know the same you know technical levels as the SPX in terms of previous resistance levels I think we probably would be up there if it wasn't for Boeing stock let me know down below in the comment section what you guys think about that I would love to know and now heading over here to the NASDAQ guys the NASDAQ is absolutely technically speaking it's looking beautiful right we broke out of the resistance points that we were talking about over the past couple of videos the first one being the 50 SMA this resistance here at about 7100 the next one at about 7200 and now we're trending in this horizontal pattern here from the old resistance which is now a new support at about 7200 up to the next resistance which is at about 7360 7370 which honestly it's looking like we're going to be hitting that level here over the next couple of days especially if tech stocks continue to do well especially if the market in general continues to do well but one thing I do want to point out to you guys here on the major indices is the RSI level we do seem a bit overbought here on the NASDAQ and let me take a look at the SPX is it the same I didn't really take account into it see the SPX is not as overbought and let's see the Dow Jones actually yeah the Dow Jones is obviously not overbought because of the whole Boeing thing but the NASDAQ has been pushing up actually more in terms of percentage than the Dow and the SPX which is why that RSI does seem a bit overbought so in terms of you know these tech stocks like Apple and Facebook which have a weight on the NASDAQ they've been doing very well if they do pull back I do expect the NASDAQ in general to slowly pull back a bit to bring that RSI down a bit and that could end up bringing us closer to the support at about let's say 7230 7200 flat I'm not saying it's going to drop 100 points but if we do end up going back down to about 7250 on that little pullback that really would not surprise me so those are the levels that I'm really taking account here you know taking into account in terms of the NASDAQ composite now let's talk about what I ended up trading today and for those of you guys that watch my morning video I called out and talked about crude oil and UWT and that's exactly what I ended up taking advantage of this morning so crude oil is crude oil it's a crude oil future and we trade UWT which is a leveraged ETF that trades based upon crude oil whenever crude oil is going up in price UWT is what I traded today goes up in price as well and for those of you guys that watch my morning video this morning I talked about the crude oil breakout potential at the resistance at about 5750 5775 if it were to break that level that would be a breakout for crude oil and that's exactly what ended up happening today and if we look at the 20 day one hour we'll see this on a closer basis right the support at about 5530 the resistance at about 5760 5770 very clear horizontal pattern with the break today at about 9am into the 57 or really at the 5775 level this morning that's where we got that break and that constituted me to trade UWT this morning so let's see the movement of UWT so you guys can understand the correlation here so we saw this little downwards trending uh you know pattern here in terms of UWT of lower highs the higher at about 1650 1620 here and then $16 roughly flat yesterday and this morning we got that breakout pattern of the top of this resistance which really opened my eyes initially to trade UWT this morning and if we take a look at the one day one minute I actually ended up getting in on this little dip and as we started to confirm the bounce here on the 50 simple moving average and on the EMA line I ended up hopping in at about I believe 1630 and I wrote it for about an hour or two grabbed about a 1.4% margin of profit ended up selling at this higher high point here at about $16.50 very quick really in and out trade not really quick typically my day trades are a little bit quicker than this I ended up holding it for about 40 minutes 45 minutes got my 1.4 1.5% on it ended up selling off there and if you guys can see you know we ended up running up to about 1690 here so if I ended up holding the whole day I would have made triple of what I did make but I always preach and always talk about being consistent taking a smaller amount of profit and really just being consistent with it guys don't always aim for that home run trade don't be too greedy take what you can take and move on lock in those profits that's exactly what I ended up doing today on UWT and this is going to transition into what I'm watching for the rest of this week and for the rest of this month honestly and that is I'm watching UWT guys I'm going to be completely honest with you guys because of this breakout on crude oil I think UWT has a ton of potential here over these next couple of weeks so what I want to see now since crude oil is a bit over but I want to see a pullback and for crude oil to hold this old resistance as a new support to open up a better buying opportunity in UWT as a potential day trade tomorrow so that's what I'm actually watching for tomorrow guys I'm looking to get back in to UWT at a better price point primarily or you know rather you know I'm looking for a level at around let's say 1650 that would be a nice little pull back that would bring the RSI down a bit and give us a little bit more you know room to run from there because if you guys can see you know this level here if we do end up pulling down to the you know the previous resistance holding it as a new support that would be a better dip by opportunity than it would be if we just hopped in let's say we opened up tomorrow at about 1690 if we just hopped in there that might not be the best you know place to get in because at that point we're overbought we might see a pullback so that's what I'm just waiting for guys a pullback might make a better opportunity might open up a better opportunity in UWT so another one I'm watching tomorrow guys you know it's a marketing TF so let's say the SPX does end up getting rejected here this is one scenario that I'm looking to play let's say we get rejected here TVIX is going to open up to be a solid day trade a solid potential day trade for tomorrow and for those of you guys that don't know TVIX trades closely based upon the SPX whenever the SPX is selling off TVIX is going up in price as we can see here over these past couple of days really this bracket of days here from the 4th of March up to the 8th of March where we saw that pull back in the SPX TVIX did very well so this is something that I'm looking to capitalize on if we do end up getting a pullback in the markets since the markets have been doing very well recently we might get a pullback guys we might get a pullback but like I said in the beginning of the video if we break this level you know that's pretty much going to scratch that entire plan and I'll be looking to trade TQQQ which is an ETF that goes up whenever the markets are going up right so this is the combo of ETFs TVIX and TQQQ that I trade based on the markets and these are really just ones I watch when the markets are extremely volatile right so that's what I'm watching you know TQQQ TVIX you know UWT those are the three main ones that I'm watching what were the other ones that I was thinking about guys natural gas this is one that I want to point out to you guys too yep this was it you guys is looking pretty solid right now and I think that I talk about this one in this morning's video I don't think I did in this morning's video but I definitely did in yesterday's video it's looking as if we're trading in a horizontal pattern right now in natural gas with the support at about 275-ish 275-280 with the resistance at about 288-290 so let's say we continue to push up here which it looks like we are we break that 50 SMA I think tomorrow you guys can be a very solid potential play and it did pretty well today up about three percent up about a dollar and one cents and we do see potential here guys we're seeing a resistance here a potential break tomorrow if we do end up pushing up here out of the resistance on the 180 SMA and from there we could be testing hires you know higher the higher levels here at about $37 so keep an eye on you guys this could potentially be a solid play and another one I talked about this morning was ACB Aurora cannabis ended up doing very well just take a look guys at that candlestick holy crap from $8 all the way up to $9 that's absolutely unbelievable today 14% move in Aurora cannabis and we're at levels right now where we are a bit overbought I would be scared to buy at these levels but I would love to see a rejection here and a pullback and a hold at about the 820 830-ish level maybe 840-850 this level the old resistance as a new support I think that would be an extremely good entry point for ACB that is what I'm personally watching right now in terms of you know that stock Cron we talked about that one this morning it ended up not playing out so well it's looking a bit bearish right now especially if we do end up breaking this trend line that I've drawn out right here let's see what CGC ended up doing yeah CGC you know the same thing we talked about CGC this morning it was in this wedge it looks like we got rejected at the top of this wedge so I'm keeping an eye for a potential break to the downside here are we gonna pop to the downside here or really you know push to the downside and hold it as a new support or hold it as a support from there are we gonna break that which would be a bearish move or tomorrow are we gonna break out of the top resistance of this wedge which would be a bullish move these are all things that I'm going to be watching for tomorrow and let's see guys what else did very well today Tesla had a very solid pushback today and honestly guys if Tesla ends up breaking this 50 SMA here I think the uptrend well really the uptrend is still intact right now if I show you guys on this 20 day one hour we can see we had the pullback yesterday this would have opened up a nice entry point here on the pullback and we popped up today if we break this 180 SMA resistance on the 20 day one hour chart I think this could be a runner to the upside I see a lot of potential there on Tesla and if we go back to the 184 hour chart we can see if we break the 50 SMA that could also be a runner there which is why it's super important to look at multiple timeframes right we can see and point out different resistance points on different timeframes and honestly I do see some potential tomorrow in Tesla stock so those are just a couple stocks guys Tesla UGAS UWT those are the three main ones I'm watching TVIXT QQQ the market ETFs and of course what was the other one the marijuana stocks ACB Cron CGC CGC and Cron they're at critical points CGC especially if it breaks out of that wedge or to the downside that can play you know with different opportunities there whether you want to play put options to the downside if we break to the upside of that wedge that could be a potential swing trade there's a bunch of options out there right now that I'm personally looking at and I would love to know what you guys are looking at let me know down below in the comment section and also if you guys have yet subscribed to the channel you made it this far feel free to subscribe hit that notification bell if you guys do enjoy the content you want to be notified every time that I do make a video and also while you're at it guys why not hit that like button and if you guys enjoy this content I'll see you guys in the next video I appreciate all you guys for watching and getting me again to that 2000 subscriber milestone I'll catch you all in the next video I have a special video planned for you guys tomorrow not necessarily related to the stock market but I know I really know you guys will enjoy it so stay tuned for that I'll catch you all later peace out