 What is going on everybody? It stops here. Welcome back to another video So in this video, we're gonna be doing an overall market update looking at the Dow Jones the S&P 500 and the Nasdaq We're gonna be talking about one trade that I made today on the 26th of February in 2019 As well as taking a look at some other stocks and ETFs that I personally see potential in here towards the end of February in 2019 heading into the March month of 2019 and also we're gonna be talking about some stocks that you guys Wanted me to talk about today from the discord But before we do get into all of that guys for everybody out there that enjoys the content here on YouTube You do find value in these videos feel free to hit that like button It really does help my channel grow as well as joining our discord group chat 100% free the link is down below in the description box We're talking about trading investing stocks news Strategies on a day-to-day basis in that discord chat, and we have a bunch of different channels there Ranging through every topic you can think of regarding the stock market. So again 100% free We have about 600 members in there nearly talking literally every single hour of the day There's a conversation going on so get in there You will not regret it and without further ado Let's talk about what ended up happening today in the overall stock market here starting off with the SPX The 500 largest publicly traded US companies down about two dollars and 21 cents down 0.08 percent at the close so a very minimal red day there today for the S&P 500 the Dow Jones down about thirty four dollars on the close down about point one three percent again very minimal red day there for the Dow Jones and The NASDAQ composite guys down about two dollars and fifty cents here at the close and we're continuing to drop This is the future. We do see here down about point oh five percent Right now so judging off the three major indices guys that we talk about in these videos on a day-to-day basis We really didn't move at all right very minimal red day Pretty much keeping the levels that we closed that Yesterday here in the stock market, so let's take a look at the SPX Let's see some technicals so we can get a better understanding of what is going on here You know in the S&P 500 and for those you guys have been following the videos We've been talking about this resistance at about 2790 and the one at about 2815 So for those you guys have been following the SPX itself over these past couple of days You've seen that we pushed up to 2815. I believe yesterday 2815 ended up getting rejected by that resistance and now we're trading in this channel here from around 2790 up to about 2815 and the fact that we really just you know close the day today on a break-even level really minimal red day on the day from The close yesterday this support is still intact and we are technically still trading Within this channel another thing that we've been talking about guys Is this other channel that we see here on the 30-day 90-minute chart that the SPX and the entire market? Honestly, the Dow the Nasdaq has a very similar channel These have been trading the indices have been trading in this right really just determined by this resistance You know trend line here and the support and how you draw a channel so you guys can do this for yourself if you're using thinkorswim Simply go up here to the drawings tab Hover over drawing tools and go over here and select channel and once you do that guys You can outline right the support of the channel which in this case I'm doing right now, and then we can do the resistance which actually we just got rejected at This is a little bit butchered here, but bear with me We just got rejected at by you know the 2813 Resistance right so the fact that we got rejected by the resistance from a couple of months back and at the top of this channel That's a good sign right now that the SPX does want to sell off Towards the 50s and may support and eventually down to the support here of this channel But again, there's a couple of things we want to wait for before we do get that Confirmation that we're selling off and one of those is we want to get the confirmation that we break below 2790 which again is that support that we are currently trending on right now We want to break below this 50s and may and if we want to see a full-on break of pattern to the downside We want to see a break at about 2750 below the support of this channel and that's going to be honestly guys a Complete break of pattern to the downside and of course this can happen to the upside as well right if we break 2815 if we break that resistance and of course the top of this channel We're going to be moving up to the upside more and that's going to be a breakout pattern with honestly Potential more green to come from that point forward So we're at a critical spot guys in the SPX right now Keep an eye on those levels that I just talked about here the Dow Jones. We are at a resistance at about $26,200 we got topped off there I believe yesterday and for those of you guys that have been paying attention to the Dow and these videos We've been talking about how the Dow has been trending between this resistance from the 12 12 slash 3 December 3rd 2018 this resistance here up to the previous resistance from there at about 7 or 11 7 rather November 7th 2018 So we're trending in this channel here The fact that we held it as a support a couple of days ago solidifies that and we popped up got rejected now We're pulling back. So what am I going to keep an eye for here guys for the Dow? Well, I'm going to keep an eye and see are we going to hold this 25,800 old resistance as a new support and from there We could potentially do some horizontal action in terms of the Dow Jones Or are we going to break down head towards the support of this channel and potentially break the support of the channel to start a Downward trending pattern really a break of pattern to the downside, right? But there's always potential more for more green guys Especially in the market that we've been in that's just been soaring up So what to keep an eye on for a break to the upside? Well, you probably guessed it We want to see a break above $26,200 and at that point we're going to be breaking out of the resistance of this channel which we got rejected at Yesterday and we're going to be breaking out of this resistance here at 26,200 which is going to be the last thing that we want to see before we test all-time highs and in yesterday's video We talked about how we're nearly two three percent off right now from the all-time highs Back in the beginning of what was it October, right? The all-time highs were nearly 27,000 dollars We are about 2.5 percent away from there, which is honestly really really close So for tomorrow guys just keep an eye on all of those Technicles there in terms of the Dow Jones and of course the NASDAQ is in a very similar situation But this one's at a resistance at around $7,100 right now and if we do break above here roughly around 7,120 to 7,130 We're going to be trading in between that resistance Which would be a new support at that point if we do break above it and the old resistance at about 7,200 will not really the old resistance the next resistance rather at about 7,230 which will be the one from around the beginning of November in 2018 so guys keep an eye for the break here in terms of the NASDAQ and honestly out of the three major indices guys The NASDAQ is really looking like it has the most green upside as of right now and let me explain why very quickly we do see it's more towards the bottom of this channel It's a bit more to the you know middle of this RSI meaning It's not too overbought, but it's not too oversold either It's kind of in that sweet medium spot at around 50 55 and if we do break here guys If we do break that resistance, that's going to issue a ton more upside in my opinion in the NASDAQ Index and in that case a lot of tech stocks will be probably doing well If this does soar because again the NASDAQ for those you guys that don't know it's a tech It's a tech heavy indices so You know I do see some potential here to the upside for the NASDAQ and the Dow Critical resistance like we talked about in the SPX of course There's another resistance that we want to keep an eye on right around here So I would say guys the overall markets right now They're kind of in a mixed bag where we could be potentially selling off in the SPX and the Dow But the NASDAQ does seem like it has some more juice in it So I'm really excited for tomorrow. Let me know what you guys think down below in the comment section Are we gonna continue to head up or are we gonna start to sell off a bit? I think just judging off the 500 largest companies, you know when I do my you know analysis here on my own and on the YouTube channel I really like to focus mostly on the SPX here and what this is telling me guys is that we are due for a pullback So just judging off the SPX I do think there is a little pullback coming But if we look at the NASDAQ the technicals are telling us a different story, which is why we're in a very you know Interesting spot right now. So again, let me know down below What do you guys think and let's talk about what I ended up trading today? And I'm sure all you guys already saw in the title of the video. Yes I had a red day today and I traded UWT and I'm sure a lot of you guys can actually relate to what I'm about to tell you guys right now in terms of UWT where you set a stop loss on a stock or an ETF, right and it literally goes all the way down to the exact point of The stop loss hits the stop loss and then runs right back up, right? I'm sure a lot of you guys have experienced this. That's literally Exactly what ended up happening to me today and let me talk to you guys about this trade very quickly I actually ended up getting into UWT earlier on today It was roughly about like 10 o'clock. I believe 10 30 the price was at about $14 and 75 cents it was on this pullback actually we bounced on about 14 50 And if we're looking from the you know the previous couple of days We see the big margin of profit here on UWT from 16 50 down to about 14 20 So that opened up the margin of about 10 11 percent So that's initially what attracted me to this ETF and we do see the Consolidation towards the latter half of the day yesterday into aftermarket hours into pre-market hours today Which is what again opened my eyes to this as you know as a consolidation point as a Potential point where this one could be headed back up So the fact that we saw the pop-up here that was telling me that okay, this one could be popping up heavily today We got the pullback and that is when I entered into my position And this is actually on an ETF that I wasn't watching too closely today in terms of being you know on the computer screen I was actually not too active in terms of my trading today, and I actually set an OCO Bracket order on UWT which is a one what's it called the one cancels the other or something like that It's called a one cancels the other order meaning you can set a limit sell and a stop loss at the same exact time So that's pretty much exactly what I ended up doing today on UWT guys got in at 14 75 Right around here. I believe like 10 30 a little bit after 10 30 got in right I popped it popped up to 14 90 which honestly guys that would have been a good spot to take the profits Right that would have been a good spot to take the profits But I set my limit sell a little bit too high here It did not end up hitting it because again I was not too active on the computer Which is why I set that one cancels the other order to begin with and we didn't end up hitting my You know my limit sell there which sucked because I was up about 1.75 percent My limit sell was a bit higher here at about 2 percent in profit, right? It was about at like 15 0 5 or something like that We did not end up hitting it and the funny thing guys is that we pulled back and my stop loss was actually at about $14.48 and this is the funny thing that I'm sure a lot of you guys have experienced right you set a stop loss from 1475 guys I was in down to about you know 14 said it was roughly a 2% stop loss, right? And then we pulled back all the way to that point hit the stop loss literally on the scent directly on the scent 1448 and then we shot back up heading into the market close at about $14 and 73 73 cents which at that point guys I would have been break even but honestly I was looking to just hold this one throughout the day. I wasn't really looking to hold it overnight So I probably would have just taken you know the break even here anyway But the fact that we did guy, you know hit that stop loss on the tee head back up You know, it's pretty funny, right? But that's just you know the recap of my trade today again OCO brackets Take a look into those guys if you're not as active on your computer Let's say for swing trading. They're perfect for swing trading you can set a stop loss and a limit sell at the same exact time and Once one triggers it cancels the other that's why it's called one cancels the other right so my stop loss trigger It canceled my limit sell at 1508 and of course if I got my profit at like 1505 1508 wherever it ended up being it would have canceled my stop loss So, you know that is a little brief synopsis of what I did today in terms of my trading and what an OCO Bracket order is so so overall today guys a 2% red day for me I'm still holding Johnson and Johnson for those of you guys have been following for a couple of videos now I bought in Johnson and Johnson last week This is a stock that I'm swing trading and this was one of the stocks that I talked about and my three stocks I'm swing trading in February the other two were Microsoft took my profits on that on that stock and Caterpillar Took my profits on that one yesterday Which is interesting because Caterpillar actually sold off very heavily today due to some news that they got downgraded I believe Home Depot missed on their earnings that dropped the entire you know industrials You know industry sector whatever you want to call it and it really did affect Caterpillar today ticker symbol CAT which is honestly one that I'm watching right now for a particular You know day trade slash swing trade So let's just start off with that one guys because I did want to talk about very quickly a couple of you know Stocks here towards the end of this video that I see potential in and that you guys talk to me about in the discord So the first one that I see some potential in is cat We saw the big gap down from 142 down to about 135 pretty big gap down But the fact that we held the 50 SMA here You know as a support very good sign that we're continuing this uptrend pattern Illustrated by that red trend line that I just drew for you guys and we're also testing this resistance at 137 right now. So if we do end up breaking this tomorrow guys This is going to be the deciding factor of whether I'm going to trade it or not We're going to look to fill the gap from 138 back up to 142 50 Which is where I would like to capitalize again just like I did a couple of days ago on this pop-up here So that's the first stock. I'm watching for tomorrow ticker symbol CAT another one that I'm watching that I wanted to share with you all was a Walmart ticker symbol WMT I don't know why it's not in my active watch list. I swear. I did add it. Let me see. Oh, there it is guys Walmart there it is sometimes it gets lost, you know You scroll down you miss a couple and you feel like you're you didn't put it in But I did put it in there and Let me show you guys why I see potential in Walmart and what I'm waiting for in terms of this stock So what do we see here in terms of Walmart guys? Well, they reported their earnings the stock shot up to about 105 106 Which was an area of resistance from about a couple of months ago And now we pulled back down all the way to this old resistance Which is now looking to act as a new support level at around $98 and that opened up a nice 56% margin of profit and we are still holding this higher low, you know uptrend pattern stemming from the end of December in 2018 so there's a couple of good signs here in terms of Walmart again the pullback to hold on the new support and The hold of this uptrend. So what do I want to see for tomorrow guys? I want to see a significant push up Maybe even up into the $100 range a break out of this resistance slowly into the mid $100 range for the Confirmation of the bounce the continuation of the uptrend and of course the confirmation of the hold of this new Support level so if we get to the one oh hunt one oh one level guys That would be a good entry point for a swing back up to 105 in terms of Walmart That's what the technicals are telling me guys and that is what I'm looking at in particular You know in terms of Walmart another one. I'm watching is Coca Cola This is more of a falling knife right now. So out of the ones I'm talking about in this video This is probably the least one that I'm actually going to trade the least likely one I'm going to trade but I still want to cover it in this video because This one has a huge margin of profit on it and what we would want to wait for for us to you know Trade it would be for it to ultimately hold this 4450 support where we bounced that once in the past back in you know August of 2018 and Twice in the past back in the middle of October Excuse me at around $44 and 50 cents excuse me again So where we see you know this one pulling back to based off these technicals is around $44 and 50 cents and if we successfully hold above their break out of this EMA resistance here this 50 SMA resistance You know back into the 45 mid 45 level maybe 46 This could be a nice little swing trade back up to previous resistances You know first one would be at around 46 75 $47 and of course if we slowly test the higher levels at the $48 range that could be a good target For Coca-Cola as well But as of right now guys until we see a solidified bounce a solidified break of pattern to the upside here I'm not really going to be looking at trading Coca-Cola But I still wanted to talk about it today in this video So another one that you guys actually wanted me to talk about today, which I honestly wasn't really you know Watching to begin with was Southwest Airlines. So the fact that you called this one out today. I forget who it was Thank you this stock Honestly on a technical basis it fits a lot of the categories that I personally like to see in Terms of a swing trade and it reminds me of the pattern that we just saw on Walmart, right? Very similar pattern here, but it honestly looks even better than Walmart So let's take a look at why I personally like this one So the first sign that I do like here is the pullback from 58 to 53 that opened up nearly 8% Margin of profit not only did we pull back We're holding this old resistance as a new support level Which again very very good sign that we're going to continue to push up and see higher levels in a particular Stock right and also we're seeing two three days of that consolidation on the new support Which is a good sign that it's not just one day then it's pushing to a low or low another one day Consolidation pushing to a lower low. It's two three consecutive days of Consolidation which means we could be heading up tomorrow or the following day here on Wednesday And on Thursday of trading which is what I'm gonna be watching for it to do guys We saw the two days of consolidation now want to see the curl to the upside the push to the upside and the potential test At this other resistance at around $55 so this is going to be a huge huge breakout spot for Southwest Airlines ticker symbol LUV will be the test at the resistance and the break above the resistance at about $55 I think that's going to be a good good spot for you know a potential buy-in in ticker symbol LUV so honestly this could trade in two different scenarios right I could trade this in two separate scenarios So let's say tomorrow. We do see a slow push to the upside I might capitalize on a day trade from $54. Let's say for example up to $55 and from there I would want to sell right my plan would be to sell and wait for the break above the resistance for it to hold it as a new support before hopping in again for the ride back up to $57 which would be the next resistance and of course if we break that the next one to test would be around $57 or $58 right after this $57 one next one would be around 5850 So that's the plan guys as of right now for LUV would love to see the break out of there for a swing trade over the Next couple of days, you know in this stock. So the main ones I did want to talk about today We really did cover them ticker symbol CAT. Of course UWT guys tomorrow if crude oil does end up pushing You know back into the $56 range. I believe or was it 57? Yeah, $56 range if we do end up pushing back up there guys, you know, that's going to be a good sign for UWT Of course, we want to see the break above 56 because that's an old You know support which is now a new resistance and we want to make it a new support again by breaking above it And of course at that point like I said, UWT is going to be doing very great LUV is what I want to see Do pretty well according to what I just told you guys Walmart and of course What was the other one we talked about now? I'm forgetting off the top of my head Caterpillar ticker symbol CAT and honestly guys that is all I'm watching for the rest of this week as well as some cannabis stocks Oh my god I almost forgot about the cannabis stocks the cannabis stocks cron today up 7% it's looking like it's holding this support So I'm going to be watching this one for a potential pop tomorrow. Let's see CGC to CGC do well today Yes, CGC is breaking pattern here. So to the upside would be very nice in terms of CGC If it's able to hold 45 as a new support again, that's going to be a good sign So these are the couple of stocks that I'm watching for tomorrow guys Let me know down below in the comment section when you're watching I would love to know if you enjoyed this video feel free to hit that like button leave a comment and subscribe Follow me on Instagram as well as on Twitter join our discord group chat as well as our Facebook group All those are linked down below in the description box. I'll catch you all in the next video Thanks for watching again as always peace out You