 What's going on everybody is 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 did today in the markets What are my plans here towards the end of August heading into the month of September? We're going to be going over my thoughts on the market and some other stocks and ETFs that I'm watching Right now as well as some news that we got regarding the US China trade war and the tension between The two countries at this point so if you guys find value in this video Feel free to go down below and hit that like button consider subscribing if you want to see further content for me Content involving the stock market trading investing personal finance that red button you should click it So guys let's get right into it the markets today Were absolutely amazing the markets were green all across the board the S&P 500 was up 36 points 36.64 to be exact up 1.27% at the close very strong day there the Dow Jones up 326 points up 1.25% and the Nasdaq Let me pull up my phone very quickly guys and pull up the Yahoo finance app to tell you an exact figure Let's see right here Nasdaq up 1.48% up 116 points So you may be asking yourself what what ended up moving the markets like this? What ended up moving the markets like this? Well, we got some news that the trade war is easing between China and the US and oh boy have we heard this many times in the past, right? So in a couple of minutes, we'll get into that but first let me just break down some technicals You know on the S&P on the Nasdaq on the Dow's we can kind of see what is going on here on a technical basis So today with this big strong green move this gap up We actually ended up breaking the 50 SMA on the four-hour chart here as you guys can see this green line And honestly now that I'm looking at it We've broken above the 180 SMA as well, but overall we're trending under this resistance at about 2930 and we've been talking about this horizontal channel on the S&P over the past couple of videos and at this point guys We're testing it again So it's going to be important remember this trend line that I drew over on the previous couple of videos It might have been yesterday or the day before, you know This can very well play out in terms of the candles breaking out But we need to first break above 29 30 and then we'll be testing upwards to 29 50 Which is the next resistance, but let's say we gap down tomorrow We start to get you know rejected right now the futures are slightly down So if that heads into tomorrow morning pre-market that could be telling us that the S&P may be heading back down to retest Maybe 2900 flat and then maybe the bottom of the channel here, which is at around 2850, right? This range has just been bouncing You know, we've been hitting the supports three times in the past you guys can see like multiple times and we've been hitting the resistance So like I've said yesterday, you know, whichever spot we break out of whether it's we break out of the resistance or we break Down below the support, you know, that's going to determine what the direction is going to be on the S&P 500 in terms of the short term here So that's kind of the breakdown very simple here guys, you know again if we pop We may be going back up to the mid 29s maybe, you know, high 2900 dollar level, you know in terms of the S&P here So going over to the NASDAQ guys, we can see here unlike the S&P The NASDAQ is actually trending below the 180 S&A right it broke above the 50 S&A Which again is this green line on the four-hour chart, but we're trending below the 180 S&A You guys can clearly see over the past couple of weeks. This is a point This is a level. This is a point of resistance where we've struggled to break out of pretty much the whole month of August We've been trending below that level and honestly trending below 77.50 which we've gotten rejected at once twice three times four times five times in the past And if we let's say start to push up a little bit tomorrow, whatever it may be We may be retesting that level yet again, and if we pop out of there, that's going to be a very very Bullish move for the NASDAQ and of course if we get rejected we may be pushing back down a 7400 74.50 ish that is roughly the area of support that I'm seeing right now on the NASDAQ So these technicals guys to be honest They're not too hard to read because all of the indexes it seems like they're in this horizontal channel And it's very simple. It's a very simple pattern to understand if we pop out of the resistance That's a bullish breakout move But let's say we get rejected and start to head to the support again of the channel and we bust through the support That's a bearish move. So a lot of different things can happen here We just have to keep up with it keep an eye on it throughout the day and of course pre-market hours is very important You know as you're looking to potentially plan any any trades whether it's a day trade a swing trade You know, whatever it may be so going over to the Dow Jones Industrial average we can see that we gapped up above the 50 SMA of resistance today on the four-hour chart That's a very good sign But just like the NASDAQ we're actually testing the 180 SMA of resistance now, which is also a resistance Where we've gotten hit down before more towards the beginning of August. It was at about what level is this? 23,000 or 26,000 rather 350 we got hit there once twice and now it seems like we're retesting it We're literally right at that level right now in terms of the close price of the Dow So tomorrow is going to be interesting guys just keep an eye again on the futures What are we doing? What direction are the futures pushing that could give us a indication of what could happen at least Early on in the day tomorrow before we start to pick some more direction and honestly guys I like waiting just a little tip here I like waiting 30 minutes to an hour after the market open to kind of decide what I'm going to do for that day for the most part Sometimes I'm hopping in some stocks or ETFs within 10 minutes of market open But most of the time I like to see where the market's pushing what direction it's picking and kind of how it's reacting That specific date to whatever news catalyst there are or if there's anything crazy going on in the media with a specific stock That has a huge weight on an index or the economy in general. So that's kind of what I do I wait 30 minutes an hour and from there I end up taking a position or just not trading for that day So overall guys that is what is going on right now in the stock market in terms of just the prices today What the technicals are looking like through my personal perspective now? Let's quickly hop into this Google Chrome article that I have pulled up here to talk about very briefly What ended up pushing up the markets today pretty obviously, you know, it's this right? Look at the headline US indexes soar on hopes for improved US-China relations, right? And if we look down here, you can see stock shot up Thursday on hints that China wants to reduce the tension in It's trade fight with the United States So going down here the rally was prompted by comments from China's foreign ministry that Beijing would not retaliate for now against President Donald Trump's latest Tariff moves, but the spokesman also said that China wants to see some of those rolled back So that the two sides can negotiate in September and he's referring to some of the tariffs So I feel like this trade war. It's like a cycle, right? There's a tariff slap from the US to China China to the US There's a big feud on in the media on Twitter, whatever it may be the market tanks And then in my opinion in hopes to save the market They come out and they say oh now we're starting to ease up now We're looking to meet and really settle things and make a trade deal. I feel like it's a cycle This has been going on nonstop over the past year and literally guys whenever it pops up in the media The markets tank just keep an eye on this This is literally a cycle and then they come out a week or two later And then they're like, okay now we're going to make a trade deal And I guarantee you in a week or two maybe not a week or two probably like a month in September Maybe three weeks from this point or whenever the next meeting is we might get some Twitter Tweet from Trump. We might get something in the news that's saying oh now They're not coming to a deal again now They're the tensions are starting to rise again, and then the market will tank again. It's really just like a cycle I would love to know what you guys have to think about that and just keep an eye on how these Political, you know, even if you're not into politics I'm definitely not taking sides here at all because this is not a channel where I talk about politics But keep an eye on how that stuff affects everything the economy affects the stock market These are just things that can push it up push it down and it's very very important for you to understand this So now that that's out of the way I would love to know what you guys have to think about that actually in the whole market in general down below in the comment section Again, I love talking you guys in the comments So do not feel shy drop that comment and let's just talk about what I did today in terms of my trading So BAC is a stock. I think I called out yesterday or the day before I talked about it in the video I know you guys caught that if you were watching whichever video that was it was this week But BAC is one that I was looking at for a swing Position and it's very simple look at this pattern that BAC is on right now It's a horizontal pattern kind of like the S&P is but on a stretched out time frame This is over like a six-month spin and the horizontal pattern is between 2650 ish and around 30 to 31 dollars and you guys can see that's a clear resistance We've gotten hit there once twice three times four times five times six times in the past six to eight months and the support 2650 we've held that once twice three times four times and remember what I said about that double bottom Double bottoms typically indicate a potential bullish breakout and now we're getting that bullish breakout So that's four times that we've held above that level of support and what did I say in that video guys? I was saying once and if BAC was to break that 50 simple moving average here on the four-hour chart That was when I was going to pull the trigger on a swing trade and are for this particular stock And that's exactly what I ended up doing guys So if we go here to the one day one minute very simple right today We kind of gapped up just like a bunch of other stocks out there in the markets because again The markets were very green today pushed up a lot of stocks and we can see we gapped up from 2685 that was yesterday's close and we kind of gapped up about like a percent and I'm not even a percent like point five point six Point seven percent from the close You know to the market open today and we started to pull back and it's and I saw how we were making a higher low from yesterday's Close and if we just drag this out a bit to the five day five minute actually Let's see if we could get that double bottom for you guys here. Let me see. Yes. Look at this double bottom This is the double bottom, right? I'm pretty sure so we got the one two and then we started to pop previous two days You know you can see the pop the break above the 180 SMA the pullback the retest This was actually after market hours yesterday and when we gapped up that was a higher low Right, this was kind of the continuation of the uptrend and the trajectory the Trajectory the momentum at this point was pushing up because of the pattern that was forming So I ended up hopping in BAC this morning Ended up getting in not late, but kind of as it continued to push up here. So I took an initial position I believe it was there at around like 27 25 I only I've only taken one position and what I mean by that is you know I've only taken about 20% of my goal position in BAC and you maybe ask yourself why did you do that? Why don't you go in all the way? Well one of my kind of my main swing trading strategy and it's not anything crazy fancy mystical It's literally just scaling into your position is to mitigate risk for potential downside if the stock doesn't go your way Right, that's pretty much really it think about it if I went in a hundred percent. Let's say I want to take a swing trade Let's use a whole number of $10,000 and I went all in with 10,000 and all of a sudden the stock doesn't go my way It goes down 2% whatever it may be. What am I going to be down? I'm going to be down $200 and I'd cut my losses at 2% because that's what I typically do, right? So instead of taking a $200 loss, right? I scale in with 2000 at first let's say for example So if it went down 2% and I had to stop out of that position I would have lost 2% of 2000 which is what that's like 40 $50 whatever it may be So the whole idea is if you scale in slowly your Your dollar risk is not as much as if you hopped in with the whole position size And I do have a whole video Dedicated to that strategy and I'll link it down below in the description box for those of you guys that are interested But that's pretty much it right I like not fighting the trend when it comes to swing trading So by that I mean you know tomorrow, let's say we dump below here I'm most likely going to cut losses, but let's say we gap up again tomorrow We pull back we start to retest a higher low That's me not fighting the trend because we're gapping up the trend is clearly pushing up and I would add more money Kind of moving with the trend it makes sense, right? So that's what I'm looking at for BAC to continue to add money in the goal to sell At this point it is to get up to $30, right? That's my goal sell point, but I'm thinking I'm probably going to start trimming off profits If we get under this 180 s may just to play it safe. I'm thinking around 2850 to around $29 that's the rough area that I'm looking at right now So that's all I did today to be completely honest with you guys. I've been swing trading a decent more amount recently To be completely honest with you guys day trading still here and there But I just love swing trading. That is my bread and butter to be honest with you guys so BAC I'm watching that one for tomorrow. This is probably the number one stock that I am watching You guys is another one here that did very well today And then we'll talk about Tesla here in a second to do a quick breakdown because guys I've been getting a flood of questions about Tesla and my DM So we'll talk about that and break it down in this video You can see you guys first and foremost has been doing very well and you guys for those of you guys that don't know It goes up whenever natural gas is going up. So natural gas. We talked about a 230 level yesterday I believe well, we've hit that 230 level today. We we popped up We're seeing a bullish cross 50 SMA crossing above 180 SMA seems like moving averages are acting as support levels now Which is a very good sign of a potential upwards move here So now to draw out some resistances. We see 230 is clearly one. We see 240 is one We see 248 250 is one. So these are just points and zones that I'm watching So let's say tomorrow we pop up hold 230 as a support We may be pushing up to fill it a 240 which would be amazing for you guys It can literally offer 10 15 20 percent potential from that point So that is an ETF probably the main one that I'm watching on tomorrow So let's get to that Tesla analysis because I know you guys love Tesla stock right a lot of people talk about it I'm in the community and we all a lot of youtubers I know make videos on Tesla because literally it's like the most hot talked about stock I don't know guys honestly just people love love love just talking about Tesla and there's a lot of questions revolving it and Let's just break it down. So Tesla overall. It's downtrending. That's very clear. We all know this at this point 377 is the high 176 is the low that's pretty abysmal for a six-month performance They literally lost half of its value more than half at pretty much if my math is right Yeah, roughly half whatever it may be but ever since we found that bottom We've been breaking out of moving average resistances very briefly and then we ended up dumping again So at this point guys honestly Tesla is not looking too attractive Maybe if we gap up tomorrow again hold the 50 SMA as a support Maybe we could fill up to the 180 SMA. That's what I'm thinking right now That's a potential move of about 5% But we need to just see the break of this downwards trending pattern because if I just draw it out for you guys It's very obvious that although we did break the 50 SMA. We're still overall in a downtrend Lower highs. This is technically a lower high from the previous. It's highs at about 221 Previous was at about 227 So I'd need to see at least a break into 224 before 223 224 before even considering a position and 227 break that would be pretty good. We may be reversing to the upside at that point You know that could be a short-term bottom here on Tesla Maybe at about 214 but overall I'd wait to see a break out of that Downwards trending trend line that I just drew for you guys Maybe we fill up again like I said to the 180 SMA about 5% and move there that could happen, but overall guys You know, I just need to see a pop and eventually a break above the 180 SMA Which is this gold line that would be very very good and bullish in my opinion to take a swing position on Tesla so guys that's really pretty much it right tomorrow You know on the watch list. We definitely have you guys like I said, we definitely have Tesla Bank of America I'm definitely loving that one right now from a technical perspective some other ones that I was watching You know at V. I traded this one the other You know, I held it as a swing for about a week from last week This was doing quite well, but now we're seeing a resistance at this point So maybe this could be the bottom for at V $39. We all know the moon I was about to say the movie stocks the video game stocks have been getting killed right on the one year You can see at V lost half of its value So if this is the bottom guys and now we're starting to see an upswing and video game stocks at V in particular Right, this can end up leveling up or gapping up from $52 Maybe if we hold that as a support and it can move up to $56 That could be the next swing trading zone that I'm looking for in terms of that V overall in the one year one day chart It's looking attractive, right? We're breaking out of moving average of resistances right now The 50 SMA is crossing above the 180 SMA, which is very bullish. This is looking pretty pretty good in my opinion So let's take a look at Chipotle Mexican grill very quickly. This is one that I'm watching for the pullback We didn't get it today. I would love to see a pullback and a retest on the 50 That could be a point in time where it could be an entry for a swing trade So those are just a couple that I'm watching guys I'd love to know what you guys are watching down below in the comment section So if you enjoyed this video, feel free to go down below and hit that like button Consider subscribing if you want to see further content for me again I make videos on the stock market investing trading Entrepreneurship personal finance all of that different stuff business. This is the channel That's really what the channel is about and if you found value in this video and you want to share it with the friend That would be greatly appreciated. So I'll catch you all in the next video again. Thanks for watching. It means a lot. Peace out