 What is going on everybody? It's Stas 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 taking a look at some large cap stocks to see what happened today, you know, in the overall stock market. And we're going to be talking about a trading update in terms of what I did with my trading today on the 7th of January in 2019. But before we do talk about that, for all you new viewers out there, my name is Stas, and I make videos dealing with swing trading, day trading, long-term investing, and my personal philosophies and strategies when it comes down to investing and trading in the stock market. So for those of you guys that want to learn more about that, feel free to drop a like, leave a comment, and subscribe. And follow me on Instagram, as well as on Twitter, and join our Discord group chat, as well as our Facebook group. All of those are linked down below in the description box. And let's get started with today's video. So today, guys, wasn't the most eventful day in the stock market, right? We started off pretty flat, then we started to climb up, you know, you know, heading into the middle of the day. And then we started to see a little sell-off. So we can see that here on the one day, one minute, you know, we started off flat, pretty much right at that resistance on the Dow Jones that we're going to talk about in a little bit. We started to climb up, and then we ended up selling off, heading into the close with the 180 and the 50 SMA simple moving averages acting as resistance points. So let's take a look a little bit deeper into what these charts are telling us. And we'll take a look into, you know, some longer-term timeframes to draw out some supports and resistances to help us understand where the market could be potentially headed over these next couple of weeks. And I think it's very important, guys, to do your research and do your charts and do your technical analysis every single day, especially on the major indices, to really just have an understanding on where the market is pushing so you can plan your trades accordingly, right? This is very, very important. And this is why I do it really at the beginning of every single, you know, market update, trading update that I upload during the week Monday to Friday. So if we're taking a look here, you know, based off of this longer-term chart on the Dow Jones, we can draw a very clear support here from where we sold off last year in the Dow Jones at about 27K all the way down to around 23,500. This correction occurred in March and February of 2018 where we lost a couple of percentage points on the Dow Jones. And this is what really solidified this new support level here. And what do we notice in terms of the chart now on the Dow Jones? Well, you know, we're right under that old support level, which is now a new resistance point, literally right under it at $23,500. And we've been seeing some strong resistance under this resistance point over the past couple of days heading into this morning, where we saw a lot of flatness in the market. And exactly to my point, right, we see over the past couple of days, you know, very strong resistance under that point, we can see a clear top off here, you know, roughly at around 23,400. I know it's not exactly 23,500, but it's in the general area, right, guys, when we're talking about supports and resistances on major indices like the Dow, you know, the S&P and the NASDAQ, you know, we kind of use a ballpark range, right? If it's 100 points off, like it is here in terms of that longer term of resistance, we still count it as that same, you know, area of resistance, right? So we saw the resistance here, we peaked up a little bit above this point. You know, here we got a little bit closer to that resistance at 23,500. We peaked above it, like I mentioned earlier in this video, we had a little run. And then once we started to sell off, you know, middle of the day, pretty much, you know, we got back under that resistance at around 23,500. And we're pretty much hovering right around it, you know, right now. So in terms of this longer term chart, guys, we do notice some positive reversal, reversal signs for the Dow Jones, especially since it's holding above this 180 day simple moving average, which has been a support in the past on this three year one week chart, we can see it here, guys, and we can see some green candlesticks right now starting to form on top of this 180 SMA. So if we're taking a look at some closer term charts here, we do notice we are at a resistance right now under the 50 SMA. And again, under that same resistance that we were talking about just now right at 23,500. So in my opinion, guys, you know, we're at a very interesting spot right now in the Dow Jones. And like I've been saying over these past couple of weeks, I think that there's more selling to come over these next couple of weeks. And like I said in yesterday's video, you know, the selling could occur this week, whether it was today, which it didn't happen, you know, tomorrow, Wednesday, maybe later on this week, you know, I think it's going to happen at some point, you know, maybe this week, you know, we might see a red day. I personally think we will see a red day, you know, like I said in yesterday's video, whether it is, you know, it wasn't today, whether it is tomorrow or the next day, I think we'll see a red day, especially because we're at resistance right now. We've had a bunch of green days in a row, and judging off the trend, guys, over these past couple of weeks, you know, we've seen patterns like this form in terms of, you know, couple of days, a couple of green days in a row, followed by more selling, a couple of green days in a row, followed by even more selling. So I personally think, you know, right now, judging off this chart, that we're still, you know, obviously in a downtrend on a technical basis, and that we will see some selling coming because, you know, let's say we broke out of this resistance here and started to test this support, right, which is now a, obviously, a new resistance, that's going to be putting us even more overextended, right, overbought. And honestly, guys, there is potential if we have a couple more green days that we could get to this area, and I think we'll sell even harder if we do end up pushing up to here, because like I said, you know, the Dow will be overbought at that point. At that point, there'll be about 10, 14 green days in a row, well, maybe not 10, 14, about 7 to 10 green days in a row, if we get to this area. And, you know, it's inevitable in my opinion, especially with the state of the market right now, that we will experience a red day, you know, in this area of the Dow Jones. So keep an eye on this resistance here from that sell-off last year at 23,500, as well as this resistance under the 50 SMA on this 180-day four-hour chart. So let's take a look at the SMP, guys, very similar situation. We're right under the 50 SMA, we're starting to see a candlestick, a red candlestick form, you know, right around this 50 SMA. And, you know, we've been having trouble breaking above these longer-term resistances, you know, that were set from the correction in the SMP 500 last year. Same time period as the Dow Jones, guys, we saw a sizable correction from around 28, 2850-ish, all the way down to around 2600. And that's the next resistance, rather, right now that we see on the SMP 500. So keep an eye on this old support, which is now a new resistance, because right now this direction of the SMP is pointing that we are headed towards that particular, you know, resistance, although we are at a resistance right now on the 50 SMA. So remember, guys, if we break out of this, which we currently are slightly right, if we do successfully start to test around this 2600 level, you know, that's going to be putting us even closer to that resistance from a couple of, you know, months back in 2019. And just like the Dow Jones, we're holding above the 180 Simple Moving Average here on the three-year one-week chart, which is a pretty good sign, you know, for the SMP 500. But again, guys, with all the tensions right now, with the economy slowing down, the trade war, I do think there is more selling off to come, whether it's this week, next week, I think it's inevitable that we're going to be seeing a couple of red days coming in the very near future, you know, due to the massive, not really massive, but, you know, these couple of green days in a row that we've had that's really helped the major indexes recover, you know, in their values. So let's take a look at what's going on right now in the NASDAQ 100 here. We noticed that we're right under the 180 Simple Moving Average resistance right here. We successfully made another higher high in terms of this index. We bounced on the 50 SMA here on this nice pullback. We pushed up, made a higher high from the previous higher at around 6375. And again, like I just said, we're testing the resistance at around 6500 for the NASDAQ 100 right now, guys. And we're at a very critical point, because we're actually at previous support right now. We're at a previous support, which is obviously a new resistance, as well as we're under, you know, the 180 Simple Moving Average right here. So the NASDAQ's doing pretty well right now, because tech stocks, you know, have been doing pretty solid over this nice little pushback that we've had over these past seven days. And it actually had a very strong green day this past Friday. All the stocks, you know, a lot of the stocks did very well on Friday, this past Friday, you know, the NASDAQ was up about 4.5%, I believe, and the Dow was up around 3.5, and the S&P around 3.5 as well. So in terms of, you know, in terms of the three major indexes here, guys, the NASDAQ has been doing the best since this, you know, since these past couple of days of green that we've been seeing, you know, in the overall stock market. So just like in yesterday's, or rather, Friday's trading update video, we are at major resistances right now on all three major indices, guys. We're at the Simple Moving Average resistances on every single one of these. And it's very, very, you know, very important to keep an eye on these levels to see if we're going to reverse. Are we going to get rejected and see more red, which is what I think is going to happen in these next coming days, right? Or are we going to break out of these resistances and start to, you know, see more volume and more green overall in the stock market in these next couple of days, right? And of course, only time is going to tell. We have to continue to do our research daily, keep up with the news, right? Keep up with Trump, the trade war, the economy, everything, guys, because these all play a key role in what the stock market is going to be doing. So that is what I'm looking at in terms of these major, you know, indexes here. And let's take a look at what I traded today. And today was actually a red day for me. I took a loss early on in the day in DGAS. And from there, guys, I wanted to see a little bit more of market direction before making a trade. And we never really got a clear market direction today. So I actually ended up not really trading after I took my loss here on DGAS. I was more of a spectator of the markets today. And, you know, that's how it is sometimes, right? You're really not supposed to force trades when you don't see opportunities. I always talk about this on the channel, guys. Whenever you force a trade, that's really just gambling at that point, right? You're forcing a trade, maybe you're coming off of a loss and you want to make that money back. You know, it's never a good decision to force a trade. It's always best to wait for the opportunity to come to you, right? And then take advantage of that opportunity, right? For me, you know, I was waiting for a market sell-off today. You know, that's the opportunity I was waiting for. We never got it, right? And that's why I pretty much didn't trade, you know, after I took my loss in DGAS. And very simple, guys, you know, I'm a very, very, you know, strong advocate of setting tight stop losses on these inverse ETFs that we trade all the time on this channel. So my, you know, my little, you know, mindset coming into this DGAS trade, right? You know, I'm going to explain that to you very quickly right now, where I took my loss, where I set my stop loss, and all that kind of stuff, right? So, you know, I always trade stocks and ETFs that gap up in pre-market hours, they start to sell off, opening that margin of profit. That is what I like to focus on most of the time, you know, early on in the day when I'm trading, right? Mostly I'm trading early on in the day. And sometimes I do trade during power hour, later on in the day, when I do see more, if I do see opportunities, right? And in this particular case, guys, we opened up the margin of profit, right? We ended up selling off, you know, heading into the market open. We opened up a decent margin of profit of around 3%. We started to push up here. And this is when I ended up taking my position because at this point, guys, my thought process was, okay, DGAS is slowly starting to fill that pre-market gap. So let's see if I can capitalize on this pre-market gap fill, right? I took my position here, obviously set a 1.5% stop loss on this position because with the ETFs, I set them a little bit tighter because they're really volatile. They can swing 10% in a day, literally down 10% in a day. And we could see that right here, guys, literally this past trading day, we saw a 10% swing down in DGAS from this point at around 10.30 a.m., all the way to about 2.30 p.m., right? So I didn't want to get caught in this type of situation. So I set that very tight stop loss, tight, tongue twister, guys, very tight stop loss at around 1.5%. Very, very simple, right, guys? So I got in at around 121, I believe 120. I think it was like 120.95 or something like that. And we could take a closer look at this, right? So I got in, you know, as we seem to have found a bottom here, which was also a pre-market support, right? Right around here at around 120. So I ended up getting in right around like 120, I think like 120.95 or something like that. We popped up here up to around 121.82. At that point, guys, I was up about like whatever, 0.2, 0.3%, nothing crazy at all. And then we started to see a strong resistance on DGAS at around 121 if we judge what happened up to around 10.10 a.m. Eastern Standard Time, right? And we pretty much triple-topped here, ended up selling off aggressively and my stop loss triggered at around 1.5% and I ended up taking that little loss. And whenever I take a loss, guys, my mentality is always to evaluate the trade, right? And not hop into another trade just because I took a loss. This is a very important beginner thing, guys. Beginner mistake. A lot of people do this is, like I mentioned a couple minutes ago, you take a loss and you try to force another trade, right? That is not the way to go, guys. You're supposed to take your loss, right? It happens. It's part of the game. Use it as a learning experience and don't pretty much use that as incentive to just hop into another trade blindly, right? Always wait for opportunities. 100% the most important thing in trading stocks. Well, maybe not the most important thing, but one of the most important things is to not force trades. Be patient. Wait for opportunities to open up to you. If you stick to these three pillars, guys, you'll be pretty, pretty solid at trading over time. This is not going to be an overnight thing. You've got to always practice every single day. Pretty much master your craft every day. Be patient. Wait for opportunities and you'll be pretty much well off in terms of trading if you do stick to your core rules and principles. That's pretty much it for what happened with my trading, right? The overall market update. Now, let's take a look at some large cap stocks that really do influence the entire market. I want to start off here with Apple, guys. Apple was very flat today, down 33 cents, down about 0.2%, not much movement at all, but I want to really talk about why Apple has such a big influence on the market and why I do think the market is going to continue to go down. This is one catalyst that I really think is going to drag the entire market down, guys, just to be completely honest with you guys. So, we saw Apple, right? They cut their revenue. Their sales in China is weak, which is expected because the Chinese economy right now, not doing too hot. If you guys don't know, most Chinese stocks are down literally 50%, 60%, 70% from where the market peaked a while back. The stock market in China is very bad. The economy is very bad. This is having effect on a lot of the US companies and the US market, including Apple. So, if we're looking at Apple right now on a technical basis, guys, we're finding resistance right here under this previous support at around 146, 147, and under the 50 simple moving average. So, with this bad news that we got and Apple reporting earnings soon, and they're probably going to drop after earnings, I think this is going to drag the entire market down because a lot of people out there, investors, traders, they keep an eye on Apple to see how everything is going on in the stock market, right? This is not the sole stock that we look at to judge the markets, but it's one of the main stocks that we take a look at to judge what's going on in the United States stock market in China. And like I've been saying, guys, China is having a huge effect on Apple, right? And that's going to drag the stock down, in my opinion, thus dragging down other large cap stocks, thus dragging down further all the indexes and everything that we talk about in terms of the major stocks on this channel, right? So, that is why I'm still bearish on the major stock markets, the major stocks right now, guys, because sales are weak, revenues are dropping in Apple, the trade war, the tariffs are affecting tons of companies, and numbers are dropping. So, I think we're going to be selling off, whether again, like I said earlier in this video, it's tomorrow, the next day, the next day, I think we're going to be seeing some red days coming very, very soon. So, that is what I'm looking at in terms of Apple. If we take a look at some other very massive companies like Facebook, you know, Facebook's at a resistance right now, you know, Amazon's probably at a resistance, it passed the resistance, but it's still in that lower high pattern of a downtrending pattern. You know, Netflix did very well today, actually, guys. This one's actually one of them that is out of its downwards trend, but technically still making lower highs if we're looking at the longer term chart here, right? So, we're seeing a lot of large cap stocks, the indices at resistance points. And like I've been saying, guys, I think there's going to be more selling. So, drop a comment. Let me know what you guys think. Is there going to be more selling to come? Are you expecting red days? Do you have put options over the next week, over the next two weeks, month? What do you guys have planned? I would love to love to know. Drop a comment down below. I'll catch you guys in the next video. Thanks for all the love again that I get on this channel from you guys. I really, really appreciate it. I'll see you guys later. Have a good one. Peace out.