 What's going on everybody it's Stas here welcome back to another video so in today's 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 also going to be doing a trading update talking about what I personally did today in the markets as well as some stocks and ETFs that I'm personally watching and looking to trade here in the month of September in 2019 so if you enjoy this video if you find this video valuable which I'm sure you will go down below and smash that like button and consider subscribing if you want to see further content for me content about the stock market investing trading that's what I focus on here on this channel so without further ado guys let's get right into it let's talk about what happened today in the overall markets and honestly at the close of the markets we were pretty much flat right the S&P 500 was up $2.71 at the close here up not even 0.1 up 0.09% so very slight green day there nothing much at all in terms of the S&P the NASDAQ was up $2.25 up 0.03% so that's really nothing at all from the NASDAQ either and the Dow Jones industrial average up $69 at the close up 0.25% so a decent move there but still nonetheless is really nothing crazy in terms of today's performance and it makes sense because yesterday if you guys were paying attention the overall markets did amazing we look at the S&P very quickly on the five day five minute or no it wasn't yesterday it was the day before right we gapped up oh no no it was yesterday we gapped up right very strong green day we kind of stayed flat and today was a lot of the same we stayed flat right so at this point on this five day five minute we might as well start breaking technicals now on this five day five minute for the S&P to continue this run for you know the 500 largest publicly traded companies to keep pushing up here we need to see a pop and a bounce on this one EDSMA on this five minute chart right this five day five minute and if we scale out to the 20 day one hour we can see okay we're a bit overextended here we may be pulling down to retest 2950 or if we don't do that we may just pop and try to test $3,000 right off the bat from here so it's kind of in a tricky spot right it's pretty overbought on a lot of these time frames and if we go out to the 184 hour it does seem like we could potentially pull down to 2950 that's not out of the cards right now if we were to do that that would just be a retracement in this uptrend that we've been seeing over the past couple of days here so that would put it down about 0.65 maybe nearly 1% down if it did pull back to 2950 and from there you know if we held that popped a bit we can maybe continue the uptrend or if we broke that we may be going down even further to test maybe 2930 so right now guys the technicals are telling me overall the S&P 500 is a bit overbought again on the 20 day one hour we're overextended I wouldn't be shocked if we went down but then on the five day five minute we're already at that support so if we were to break that level maybe go down really if we were to break this level this would be a clear sign in my opinion that we are going down to 2950 so I'd say watch the smaller timeframes here and then start to drag it out to the 20 day chart the 184 hour chart and you'll be able to see your analysis a bit easier you know if we were to break this and if we started to head down to 2950 so that's what the S&P is looking like right now the NASDAQ if we look at it a bit here we're already breaking that level of support on this five day five minute being the 180 S&P this yellow line as well as that 50 S&P if we're dragging out a bit it seems like the NASDAQ is at a resistance right now let me go to the 184 hour to confirm that very quickly yes we're at a resistance so this is not too good of a sign here for the NASDAQ this is a level that we actually topped out at before that big May 2019 sell off in the markets you can see here 78.75 we hit that then we sold off all the way down to about $7,000 flat a little bit under that right and now we're at that same level that we were at before we dumped in May so this is a very strong level of resistance guys it seems like it's struggling to get above it right now so if we do get that drastic pullback let's say the futures push red on sunday which they opened up at 6 p.m eastern standard by the way you know if we're gapping down during that time period we may be going back down to test 77.50 which is about 100 points lower from where we are right now and this could be a point where we either hold and maybe continue the uptrend or we could break that and maybe start to retest this trend line again or maybe this 50 SMA or the 180 SMA so that's kind of what I'm watching here on the NASDAQ we are seeing a bit of resistance just keep an eye on what it does at that level that I just mentioned so the Dow Jones industrial average here guys it seems like on this smaller time frame chart it's breaking above a resistance so let's drag out a bit and see what level that's at this is the level that we were at before the may sell off on the Dow Jones we were at about 26,650 roughly right we hit that level then we sold off drastically we popped hit the all-time high making that as support again we sold off in august right we sold off in the bloody august month that we had for the most part and now we popped up and we broke their resistance and it seems like we're holding it as a new support again right now and let me show you guys how it actually confirmed the pop on that new support you can see it here we gapped up above it yesterday we pulled down either pre-market hours or rather pre-market hours today or after market hours yesterday I'm thinking it was after market hours into pre-market today we ended up popping and confirming that support as we held and popped above it this morning so that's a pretty good sign and especially since we pushed to a high here at about 26,860 that's a good sign that the Dow is holding this level and trying to continue the uptrend and push higher to maybe even test the 27,000 range so good signs from the Dow Jones here guys if we were to let's say gap down hypothetically here and maybe break below 26,600 what I'd be watching there would be 26,400 that would be the next level of support so overall the markets are looking good the Dow in specific is looking very good for potential high higher highs here the S&P is looking good as well because we are holding an old resistance as a new support on the S&P but the NASDAQ is struggling here under the resistance from back in the beginning of May towards the end of August or rather April so we'd need to see a pop above that for this to potentially test all time highs again so that's what the overall markets are looking like through my perspective through my lens right now let me know down below what are your thoughts on the market I'd love to know and again you all know that I love talking to you in the comments so don't be shy drop a comment and let's talk about what's going on here so let's go to the trading portion of today's video guys I traded you guys ticker symbol UGAZ this is one that we've been talking about a lot on this channel and it goes up whenever natural gas is going up that is how it trades right it's a 3x leveraged ETN so that means whenever natural gas the the asset that it tracks right whenever natural gas moves up let's say 1% UGAZ is going to be up 3% because it's 3x leverage and if it's if natural gas goes 2% UGAZ will be up roughly 6% right that's kind of how it works and you can see here that we had about a 6% day today and we hit highs at about 1920 and what we talked about in yesterday's video ended up playing out today guys and what was that well in yesterday's video I talked about this 1830 level of resistance and this 50 SMA here on this hourly chart right so I was talking about how I want to see a potential retest and then a pop and ultimately a break above 1830 that would be the bullish move we need to see to fill the gap up to the next resistance which in this case as you guys can clearly see is $20 which is why in yesterday's video I titled it UGAZ going to $20 question mark because that's the range that we're in right now between 1830 and about $20 and since natural gas ended up playing out perfectly again right we've been playing this one very well we pulled down hit 50 SMA hit 240 and popped and now we filled the gap up to 250 like we talked about and like we were analyzing in the past couple of videos that's what ended up pumping up UGAZ and that's what ended up really causing the bullish run that we saw today so the fact that we popped above 248 250 now it seems like we're pulling back to potentially hold this as a new support I'm still seeing UGAZ and natural gas in general technically speaking here being extremely bullish going forward as of right now right and the next level that natural gas could fill up to if we go to the let's say the 90 day two hour chart you can see if we hold this successfully into the Sunday future session maybe into Monday as well the next file we can go to is around $2.55 and if we complete that gap up to 255 who knows right if that does end up happening UGAZ should definitely be well above $20 at that point right and once UGAZ breaks 20 if it does we might be going to $23 right which would be the next support or resistance that I'm seeing so we fill up to 20 maybe pop up a bit pull back hold 20 and then maybe we fill the gap up that's kind of how this works the whole entire idea is trading in between these little what are they called these little channels right that's kind of how I've been trading UGAZ and natural gas here over these past couple of days and it's just been extremely extremely bullish so that's what I ended up doing actually I didn't even tell you guys what I ended up doing I kind of just broke down the ETN but let me tell you guys exactly what I ended up doing I almost got a bit too sidetracked there so I got into UGAZ today a bit late I didn't get in on the break of 1830 like originally planned I ended up getting in on I believe it was this pullback or no it was actually down here at about 1865 before we ended up popping and then holding this right so this is when I ended up getting in 1865 we started to pull back and this was kind of looking like a bull flag but I noticed that actually after I ended up getting out of the out of the trade so I kind of messed up there a little bit but as I got into 1865 we popped up to about I think I sold at like 1879 because I locked in about 0.9% profit let me let me show you guys the math here yeah you can see 1870 or rather from 1865 to about 1880 is where I ended up closing out the position and literally guys that bull flag ended up playing out we ended up popping and then running to 1930 so in theory and looking back I kind of sold a bit too early I left like 2-3% on the table at least but that's okay because I locked in the profits that's what's important here I'm not looking to hit home run trades every single day the idea is to keep the wins small and try to keep them what's the word consistent right that's the whole entire idea of what I'm going for here so that's what I ended up doing today and that's really just the breakdown of you guys that I'm looking for to potentially play out over these next couple of days so that's really the main one that I'm watching for this upcoming week another one that I'm watching is going to be Jnug Jnug got hit quite hard today we broke major support levels being the 180 SMA and the 50 SMA we're at $75 per share now down about 8% on the day but guys once these markets kind of settle down maybe we see a bit of a pullback in these markets and gold starts to shoot back up Jnug has a lot of margin here just be careful because it is now breaking under again like I said these moving averages so don't get caught on a falling knife but if the markets start to sell off a bit if the markets cool off a bit you know this can do very well because if we look back on gold really quickly gold is on the 180 SMA support right now on this four hour chart which has been a support over the past couple of months for gold so this can definitely hold and if it pops here GDX should do well from there which is what Jnug trades based upon and just take a look GDX is holding that 180 SMA on the four hour chart as well so if we pop here and end up testing these highs at about $30 look how much margin of profit that is that's about 7% on GDX and since Jnug is a 3x leveraged ETF that's about a 21% move at least that Jnug has in store if GDX pops above that moving average and potentially tests those highs again so we can see it for ourselves from 71 or 75 back up to those highs at about a hundred bucks that's at least 23 to 25 percent that is offered here from Jnug which is pretty pretty good in my opinion but we have to see the markets cool off a bit we have to see gold start to spike and this is going to be a huge mover in my opinion maybe even this upcoming week honestly maybe even this upcoming week we could get a gap up to the 90s again I think it's possible so Jnug I'm watching that one very closely some stocks today you know tech stocks Microsoft was read Google was read Facebook was read about three dollars Amazon seven dollars and Apple two cents down so overall Facebook was probably the biggest mover to the red today and overall Facebook right now I think it could be a bullish breakout play if we break out of this 180 estimate resistance and ultimately break into the 190s and successfully hold this level as a support right if we hold 190 we could potentially start to retest the 200s again and really start trending up in this next channel that Facebook could be in again if it breaks and holds that level at 190 so Facebook I'm watching that one for sure right now at V let's take a look at at V very quickly because this one's been very bullish guys very bullish I talk about this about a week ago about a week ago in the video I know you guys know that quote and I was talking about at V because it was trending at about $51 and we've been really just following these channels because at V and video games in general the stocks they've been getting slaughtered right so they have a lot of margin of profit and it seems like this is a temporary bottom for at V so it's worth watching because there's a lot of money to be made if we start to move back up so we traded it I believe I swing traded at about two weeks ago in this range right here we broke out of 51 it seems like we held it and now we filled all the way up to the next range which is at about 55 to $56 so this is very interesting because if we end up pulling back here which I think is already happening or rather we're consolidating but if we pull back maybe retest 52 53 find a support there this can be a good trade back up to about 55 56 dollars and if we pop 56 above 56 hold that level as a new support we could be flooding back up to maybe the the low 60s let me just take a look and see what would be the next support yeah literally the low 60s right that would be the next zone gap that we could potentially fill up to about 62 dollars so at V I'm definitely watching that one Facebook Jnug and you guys so that's it for this video guys those are four stocks I don't want this video to be too long because typically on Fridays guys people zone out after work after the long day after the long stressful week and they don't want to be sitting here probably for 30 minutes watching this video but I'm sure a lot of you guys would if I did make it and I really appreciate you guys but the majority of people probably wouldn't sit too long on this video so if you guys want me to talk about any specific stocks go down below in the comments comment that ticker down below and I'll get to it in Sunday's video if you found value in this video feel free to hit that like button and consider subscribing I appreciate all of you guys watching it means a lot to me that you're taking out your time in your day to watch these videos I hope you guys did well this week I'll catch you all in the next video have a great weekend peace out what's going on everybody