 What is going on everybody? It's Toss 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 also going to be doing a trading update talking about what I did today in the markets, as well as some stocks and ETFs that I'm watching and looking to trade right now in the month of October in 2019. And as you guys read in the title, there is one stock in specific here that I personally think has breakout potential if it gets above this specific level. So keep an eye for that stock here in a couple of minutes. Stay tuned if you do want to see what that stock is. And if you enjoy this video, guys, at any moment in time, feel free to go down below, hit that like button, and consider subscribing if you do want to see further content about the stock market, investing, and trading. And last thing, before we get into it, there are two links down below the Discord group chat and the Facebook group, if you do want to be further connected with the StrafSmart community, my personal community that has over a thousand people in it in terms of the two platforms combined. So let's get into it, guys, starting off here with the SPX, the S&P 500 index that ended up closing the day today, up $8.26 here, up 0.28%. And the overall trend that we're seeing right now on the 4-hour chart, as you can see based on these trend lines, is this wedge. We're making lower highs at the same time as we're making higher lows, right? We're making higher lows based off of these points here, $27.30, $28.40, you know, $2900, those are all higher lows, but at the same time, we're making those lower highs. The all-time high is the first one at around $30.27 here on the S&P, then at around $30.15. And now at around $3,008, as we did end up hitting that point today, and then slowly starting to fall from there, as you can see on the intraday chart, that really solidified this level as the start of the next lower high that I am seeing. And again, we're in this wedge, and it seems like the S&P has been struggling to maintain this $3,000 level, although we've been seeing many little pushes here over the past couple of days. And technically, we see an uptrend here on the SPX on this 5-day-5-minute of higher highs and higher lows, right? Despite the fact that we are struggling to hold $3,000. And why am I saying that? It's because here you guys can see on the 11th, we got a double top at around $3,000, $29.95 roughly, right? The following day we dumped, the day after that, we got above $3,000 briefly, but we failed to maintain it as we dumped again the next day, right? We were trending down below $29.90 actually. And then today, we had a brief pop above $3,000. We tried holding it briefly here, but ultimately we failed all the way down to about $29.92. We fell down to around $29.92 rather, and really just ended up closing the day right as you see here at around $29.97. So overall, the S&P, the markets in general, they've been trucking along over these past couple of days, but I feel like they've been struggling at these levels. And that's mostly in my opinion because it's earning season. I think the overall market wants to see what a lot of these big name companies are going to report, what their guidance is going to look like, because that's a huge gauge in terms of how the overall economy is going and obviously how the individual, especially the large individual stocks and companies are doing on their own. So I think if we get some good news about some large companies, that overall news will probably end up pushing the S&P up higher here and the overall markets. So some levels to watch out for, $29.50 on the downside, on the upside, obviously it's that all-time high at around $30.25. And of course, we'll play it by ear until we do end up going to the upside here or the downside in terms of looking at other levels of support. But let's say hypothetically we break $29.50, we may be going down $28.80, $28.50 and of course, the lowest support here that I can see based on this chart is at around $27.30. So those are some levels to watch on the S&P. The Dow Jones industrial average didn't do as well as the S&P today, only up 24 points, up not even .1% today. And you can see the same wedge pattern on the 4-hour chart here, we're struggling at a lower high at around $27,000 right now, that's a lower high from the previous at around $27.200. The support that I'm looking at on the Dow right now, if we do end up getting rejected by this resistance of the wedge, is going to be around $26.6. So watch that level, maybe we end up holding that if we do end up selling off. On the flip side, if we break out, let's say we get some good earnings, I know Boeing's reporting earnings here soon, I don't know if their earnings will be good, to be honest, there's probably won't be good due to their whole plane situation and I'm sure a lot of you guys know about that at this point. But nonetheless, if some Dow companies do well, that can definitely shoot the Dow up in a major way, up to that all-time high at around $27.300, it's just something worth just watching out for right, all of these earnings reports. And if we go into the one day, one minute, we can see we popped up $27.1 today, sold all the way down to $26.9. And if we go back to this 20-day chart, you can see we've kind of been struggling around this $27K level, although we did close above it today, which is good. We failed multiple times to really make that push that run up to the all-time high at around $27.300. And again, if these earnings are good, this can definitely be the catalyst that does end up moving us up here to those all-time highs on the Dow. So the NASDAQ guys did not end up closing up $5. I think it was up like $30 in terms of Yahoo Finance. This is the future, so that is why it's looking a bit funky here after hours. But nonetheless, the NASDAQ did end up closing green as well. I think it did better than the Dow. I think it might have done better than the S&P as well. But that doesn't really matter. All you have to know is that it did end up closing green today. And overall, unlike the S&P and the Dow, the NASDAQ's actually out of this wedge. You guys can see I have it drawn out here. We actually broke out, and now we're looking to test the next resistance, which is at around $79.50 to around $79.90. I guess you can even say $8,000. This is the next strong level of resistance that I'm seeing. And if we do break that, I think that's going to be a 50-point gap fill up to that all-time high that we are seeing here at around $8,050. So you can see that if we do break that, I think it could easily fill up 50 points to that all-time high. And overall, we are at a resistance right now. So it's interesting to see what we're going to do here. Are we going to pull down? If we do, we may be going back down to $7,800, $7,850, which is a strong level of support right now on the Dow, rather than NASDAQ, because it was an old resistance back a couple of months ago towards the end of April, towards the beginning of May in 2019. So those are some levels. It's looking a bit more bullish, levels to watch, rather, but it's looking a bit more bullish than the S&P and the Dow, which is a pretty good thing here. We saw Netflix stock run up like crazy, speaking of tech stocks in general here, guys. This one was up like insane yesterday. It was up like up to 315 points after hours. Now you can see it dump back down to 293. We'll take a look at this one more in depth here in another video maybe, or maybe even later in this video. So overall, S&P, Dow, NASDAQ, slightly green today, markets in my opinion, they're kind of calming down here for earnings. They want to see what's going to happen again with the large companies, guidance, profits, revenues, EPS, all of these different metrics. That's what the market's waiting for in my opinion. So let me know down below, what do you guys think about the market, stock market in general, earnings, what stocks are you watching individually? I'd love to know what you guys have to say about that. So let's talk about what I did today in terms of my trading. I ended up trading UWT very quickly and let me tell you why. UWT is an inverse ETF and its inverse is DWT, right? And these two, they trade obviously based on what I pulled up on the screen right here, which is crude oil, also known as slash cl. That's the ticker symbol, that's how you can find it if you're using thinkorswim or whatever other charting software you're using. And overall, I see the strong support on crude oil and I'm sure you guys can see it as well here at around 52 bucks. We can see we doubled or maybe even triple bottomed a couple of months ago, back in the beginning of June, we ran up all the way to 60 bucks. We sold off all the way back down to that same level of support that we triple bottomed at June, but this was in August. We held that level beautifully and we ran all the way back up to 56, right? Then we got that Saudi Arabia news, ran up to 62 bucks, then we sold off all the way back down here just about two weeks ago to that same 52 dollar level. We double bottomed, we ran up to 55 bucks roughly. Now we pull down again and what I was watching and what I talked about in the Discord chat and I also send a watch list on Facebook and Discord, which is why it's important for you guys to join those communities. What I said in the watch list was watch for the break of crude oil up to that 54-55 dollar level because we know how strong of a support 52 is. We saw how it was holding and consolidating there over the past couple of days. As you guys can see, all I was waiting for and again, I said this in the watch list was I want to see the break upwards up to that 54 level. That's going to be very bullish and what did we get today, guys? We got exactly that. It wasn't in the morning. It took a bit of patience here today, but I ended up catching it and we ended up getting that move that we needed to see in the middle of the day right around noon Eastern Standard Time. Obviously, I didn't catch it at noon, but once I started to see it running up, it was about an hour, hour and a half later, I was like, okay, crude oil is really making a run here. Might as well take a little position because I didn't really trade up to this point. I was thinking to myself, might as well take a position in UWT, set a tight stop. We're at a good point in crude oil where I think the reward outweighs the risk. So why not? Why not put some money in it, put a tight stop? And that's what I ended up doing, guys. At around 130, we can see how aggressively this was moving up and you're probably saying to yourself, you should have got in at 960. Well, at this point, guys, you really can't time everything perfectly. At this point, I didn't know that we were going to run up, but once we got the confirmation on crude oil, it was about 30 minutes after that, I was thinking, okay, now I have to plan my entry, and I ended up getting into crude oil, or not crude oil, UWT, which again goes up when crude oil goes up. I got in at around 985, I believe, once we started to peak above this resistance here. And that was risky, I'll be honest, guys, which is why I set a tight stop, but I just wanted to ride it out. I saw potential in it. And again, I've been calling it out over the past two days on the watch list. So I figured, I'm going with my gut, I'm going with my call out here, we're making that run up to 54, 55 on crude oil. And then I ended up putting some money in and then I ended up getting a nice return on that. I think it was close to 2%, guys, ended up selling as we started to peak into the 10s here, I think like 10.05. And yeah, that's pretty much it. I see a lot of potential here in crude oil and UWT and honestly DWT at the same time, because let's say we do fill up to 54.50, which I think is very possible at this point. We get rejected there and start to push down. We may be going back down to 52, which in that case DWT, which goes up whenever crude oil is going up, would be a very good option in my opinion. So guys, just watch it, right? Last time we were in this predicament. Take a look at this time period back in June. I think yeah, this was June, really the whole month of June pretty much, the first 20 days. This is literally history repeating itself in a way. We were in this little horizontal channel from 54.50 down to about 52 bucks. Then all of a sudden, we got up to 54 and then we broke out all the way to 60, right? So watch that. Watch this 54.50 level. If we start to see a breakout from here, this can offer some massive, massive gains in UWT as this crude oil itself has about a 10% profit margin from 54 up to 60. You have to think UWT is a 3X ETF, so it probably has around 30% margin if crude oil does end up filling that gap that we just talked about. So that is honestly what I did today and kind of strategy and a plan of what I'm looking for for these next couple of weeks in terms of crude oil, UWT and DWT. So that is the first, honestly, ETF pair or ETN pair rather than I'm watching here over these next couple of weeks. The stock that's looking to break out that you guys saw in the title is this one right here that I'm about to type in. Let me show you guys this one, ABV. ABBV. This one is setting up interesting right now. It can either blow up in my face and not go according to plan or this can be a very good winner if it's coupled with a strong earnings. As you guys can see here, earnings coming up on the 1st of November. Think about this guys. We may, this is the interesting thing about ABV right now. We may or may not pull down before earnings, which honestly could even open up more profit, right? Or we may not do that. We may end up breaking out before earnings, which is kind of what I want to happen, right? And this point right here is the breakout point. And you guys can see on the 4-hour chart, take a look at why, right? This is a clear level of resistance right now at 76.50, but it was once a level of support back in these months, really in the beginning of 2019. You guys can see, even if we go to the one year one day chart, excuse me, you guys can see how strong of a support this is. And we can even zoom it back months before that. You know, heading back to almost a year now, literally almost a year now, 77, 76, this level we held it once, twice, three times, four times, five times, six times. And ultimately, we dumped aggressively. I think this is where we got that, or no, I don't think this is where we got that merger. Either way, I don't know what time period that was, but ABV did merger, have a merger with Allergen, right? A huge merger. The stock didn't like it. It fell. I don't know if it was here or if it was before, but either way, the stock's been down trending, right? And once we saw that massive dump, that 76 level became a massive level of resistance, right? So now we're looking to test it again. And if we break out, guys, if we really look at how much money we can make profit potential here in terms of percentages, you know, up to 81.50, that is a level that it can definitely fill to, right? That's a resistance level. Honestly, one of the next resistance levels that I'm looking at that's a major one, I guess you can say 80 bucks as well right here. But even up to 80 bucks, guys, that's a nice 4%. If you're looking to swing trade ABV, you know, maybe if you wait after the earnings, but there's no guarantee you'll be able to get a good price after the earnings if they do very well after earnings. But let's say it's before earnings for the sake of the video, you know, let's just actually take earnings out of the picture, right? If you want to swing trade this, you know, you can make 4% from where it is right now, right? Based on where it is right now, 4%. If we go up to 81.50, which is the next resistance, that's a nice 6% to 7%. So ABV, it's definitely not one of these high fliers that has like 20%, 30% in store like maybe UWT, but you have to realize this is a lot safer than a UWT in terms of swing trading it in my personal opinion. And it's worth watching here, guys, trust me, this can either be a breakout, or it could end up selling off to earnings, which that could end up being good too, because if we sell off to earnings, maybe we get to $70.72, maybe we hit that 180 SMA again, couple that with a good earnings report, positive growth, whatever it may be, this could be an entry point where we can ride it back up to 76, because at that point 76 will still be a resistance that might be 6%. And if it breaks that level, we go to 81, which is why this could be a very good entry because look at how much potential you can make if that plays out. That's around a 12% to 13% if we get to 81 from a hypothetical $72 entry point if we do end up pulling back. That's if we do end up pulling back, right? But ABV, I'm liking it now, guys. It's looking really good in my book. It's worth watching, because it does have some breakout potential here. It surely, surely does. So another stock is Johnson & Johnson. This is one that's setting up pretty good right now. I almost blew the, I was about to say blew the trigger. I almost pulled the trigger on this one as a swing today, but I figured, let me sleep on it. Let me see what it does tomorrow, because like I mentioned in my video, I think it was yesterday. I think I also talked about this, maybe in the previous video as well, is this level 135, guys, this is a strong level of support now, especially since we're breaking, we did break into the 137s. That's very, very bullish. Now it seems like we're pulling down. So the fact that I didn't, or the reason why I didn't pull the trigger today is because I want to see a day of consolidation. And quite frankly, I want to see what it ends up doing tomorrow. Tomorrow, if we end up holding this, let's say we end up popping back up, that might be a good entry point because we confirmed the consolidation, the support. Now we're starting to pop, but I'm scared. And the risk involved with why I didn't end up getting in today is because let's say tomorrow we end up opening up, gapping down under the support. That's not going to be too bullish in my eyes. And honestly, that's just a risk in my opinion and why I didn't end up getting in today. But I still think there is a lot of potential here if we consolidate and start to pop up. And to see how much potential, guys, there's about 3% if we enter, really at the point it is right now at about 135, 136, and we exit at around 140. And again, this is not one of those high flyers, penny stocks, where you can make hundreds of percent. This is of more swing, strategic, safe swing, not a swing, it's more of a safe, strategic swing trade that honestly you can't blow your account with. Because the worst thing that can happen, guys, and I'm talking absolute worst here in my opinion, is that Johnson & Johnson goes to 130 overnight. And at that point, you lose 2-3% on your position, that's not that bad at the end of the day. If you're in one of these penny stocks that you hold overnight and you wake up and it's gapping down 40%, that's a lot worse than the 2% gap down on Johnson & Johnson, right, guys? So, you know, I'm watching this one, I'm watching Procter & Gamble, although Procter & Gamble is really just suffering right now. It's not doing much here. I want to see what it does at 116. Hopefully it does maybe consolidate and start to push back up heading into earnings. Let's see, right? This is a stock that I talked about in the previous couple of videos. I played this one before after their earnings because they dipped before their earnings last earnings period. And I got in after their earnings when they were still in that dip and I swing traded them. They ended up recovering and I made a pretty good amount of money on them. So, now I'm looking to do the same. Earnings, again, is coming up here in less than a week. So, I'm interested. Are they going to report good earnings? If they do, we're still at a discounted price. We're still at a dip here. This could be a good entry for at least a 6-7%. And based on how they've performed after earnings in the past, recovering, this is easy money at the end of the day, right? If they do end up recovering. We put money in here. We can make 6-7%, probably in about a month or two as this fiddles out and starts to continue the uptrend, right? So, PG, Johnson & Johnson, crude oil, of course, natural gas and U-Gas, guys. We got the report today. U-Gas ended up doing pretty good later on in the day. And let me show you guys. One day, one minute, we can see report dumped at favored D-Gas initially. Well, that's what the traders show here based on the price action, right? And then all of a sudden, we start to push up here on U-Gas. And honestly, guys, the report from the research that I did, there wasn't as many injections as recent history. And that's actually not that good for D-Gas because when there's high supply, right, where there's high supply, that is pretty good for, what's it called, guys? I'm blanking out right now. When there's high supply, that's pretty good for D-Gas, right? That's pretty good for D-Gas as supplies there. But then as demand starts to come in, right? As the heat starts to come in, that ends up going well for U-Gas. So, the fact that there wasn't as much production, there wasn't as much injections. Now, we're starting to see some cold weather. This shift can start to be, really, it's starting to maybe go to U-Gas here. Like I mentioned about a week and a half ago, that a week ago, I said, hey, maybe in two weeks, U-Gas might end up being the play. And we're starting to see some good moves here in terms of U-Gas. And natural gas is looking pretty good right now, holding this 230 level. And again, we're in 230 to 240. That's the range, right? If we end up dumping below 230, D-Gas might be in play. But right now, I'm thinking if we break 238, go to 240 and especially break that, U-Gas is going to be in play because, again, natural gas, it goes up. That's when U-Gas goes up. So, just keep an eye on those levels, guys. And you can see at the end of the day, the report based on what U-Gas did today, it ended up favoring U-Gas, right? It was up 55 cents, up 4.09% at the end of the day. And yeah, that's pretty good. So, I'll catch you all in the next video. I'll wrap it up here. If you guys did enjoy it, feel free to go down below, hit that like button, consider subscribing, and let me know down below in the comments what are your thoughts on U-Gas, natural gas, what are your thoughts on the markets in general, stocks, individual stocks, earnings. I'd love to know what you guys have to think about that. And don't forget to join our Discord group chat and our Facebook group and follow me on Instagram and Twitter. All of those links are down below. So, I'll catch you all in the next video. Thanks again for watching. Peace out.