 What is going on everybody Astos 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 6th of March in 2019 As well as taking a look at some other stocks and ETFs that are doing very well And that I personally see potential in over these next couple of weeks And I know you guys saw in the title of today's video is the stock market finally finally selling off We're gonna be talking about that as well in today's video But before we do get into these topics for everybody out there that finds value in these videos You enjoy the content here on YouTube feel free to go down below and hit that like button guys It really does help support the channel's growth And if you're new to the community and you want to be a part of a super supportive and helpful community Feel free to go down below and join our 100% free discord group chat and 100% free Facebook group again Free linked down below in the description box and without further ado Let's talk about what's been going on so far today in the 6th on the 6th rather of March in 2019 in the overall stock market starting off here with the SPX the S&P 500 index the 500 largest publicly traded companies in the US stock market We can see as of right now guys with about 15 minutes left in the market We're down about 15 points down about point five four percent in the S&P 500 The Dow Jones is down about a hundred points right now down about point four percent and The NASDAQ composite has been down or is down rather the most out of the three major indices down about 45% down about 40 points on the dot as of right now with 15 minutes left in the overall market So overall guys what the technicals on these major indices are telling me well They're telling me that we're finally starting to break downwards in the overall market and for those of you guys Have been watching the videos for a while You know we always do an overall market update in the beginning of every single video Throughout the week so we can get a better understanding of where the markets are pushing so we can plan our trades Accordingly and for those of you guys that watched yesterday's video We were talking about this very critical support level on the SPX that we actually ended up breaking below Today guys today and that support level was at the bottom of this uptrend pattern or channel rather that we've been Trading in over these past couple of weeks that you can see here on the 30-day 90-minute chart and we were talking about how if we were to break down here below the support That is a step towards the downwards direction that we could potentially be seeing more sell-off in The overall markets now what I'm seeing heading towards the close of the market guys We're seeing that we're holding this 50 simple moving average support here on this 180-day for our chart and this is what we need to see a break beneath of For the entire market to continue to sell off So like you saw in the title of today's video is the stock market finally finally selling off I think we've seen three or two or three rather indications that we are selling off the first one being The break of the 50 SMA I believe three days ago and we can see that here on this 30-day 90-minute chart And I talked about this as well in yesterday's video Actually, there might be four indications three or four indications the first one actually is that double top We were talking about in yesterday's video, which is a very very bearish sign That's the first sign that a stock ETF future index whatever we're doing our analysis in is Going down in price. So we saw the double top here The second step is the break below the EMA and the 50 SMA. So that's two indications now today We got our third indication the break below the support of this upwards trending channel on the 30-day 90-minute chart And the fourth thing the fourth thing that we want to see to 100% confirm that downwards push in the overall markets guys here Especially here on the SPX which is honestly the most important index in my opinion to do your analysis on is this 50-day Simple moving average guys if we do end up breaking this 50 SMA support here That's going to be a huge huge break of this upwards trend pattern that we've been in honestly over these past couple of months Since the beginning of 2019 so what am I watching for tomorrow guys? I'm going to be watching for this fourth Indication that we are selling off in the overall stock market here with the SPX Which is going to be the break below the 50 SMA and sure let's say tomorrow We end up holding this and we're pushing up and let's say we start to have a solid green day Well, that's just going to confirm that the SPX is likely making a new higher low at this point from the previous low At about 2700 dollars, but let's say that doesn't happen We absolutely blow through the support the next level I'm going to be waiting for guys is probably down here at about the 2700 and $40 level which is going to put us right at the previous resistance Which is obviously a new support right now at about 2740 and if we break below that guys That's going to start to get pretty ugly in terms of the SPX So keep an eye on those levels super super important But as of right now with about 12 minutes left in the market It is looking like we're holding this 50 SMA support and only time will tell and really the Us doing our analysis on the futures tomorrow and the next day That's going to tell where we're going what direction we're heading in in terms of the SPX now If we take a look here on the Dow Jones We're down about 110 dollars right here in terms of this index and let me quickly draw these Resistance levels so we can get a better understanding of where we are at in terms of this indices So let me just quickly get this to this level and obviously for all you guys that have been doing your own analysis You've been following along with these videos You know about these points already right sell off from the beginning of November and the sell-off in the beginning of December those two points you know are now resistance points in terms of the Indice right because we broke below and now we have to find our way out of those levels to test all-time highs But it's very clear here that we got rejected by the resistance from back in the beginning of November We broke the support and you know from the beginning of December which we broke above making it a new support yesterday I believe or the day before we had that big red day We broke below that support, but just like the SPX guys We're holding this 50 SMA as a support right now on this 180-day four-hour chart So that is what I want to see a break beneath of for more red in terms of the Dow Jones and ultimately a break below around the 25,500 mark which is around 200 300 points below from where we are right now And if we're judging on a closer basis here on the 30 day 90 minute chart We can see that exact break from the support or at the support of the channel just like the SPX today We broke below it which is a very big sign that we're selling off And we saw the double top as well that we talked about in yesterday's video the break below the 50 SMA as well as the EMA here on the 30 day 90 minute chart and the fact that we're breaking below the support of the channel That's about three implications that we're selling off with the fourth one being the potential break of that 50 SMA here on the 180 four-hour chart so keep an eye on all of those levels guys Let's say we start to break down down here. What is that pattern are going to look like? It's going to look like the beginning of a head and shoulders right because this would be the left shoulder in that scenario This would be the head and let's say we start to break down here And let's say we start to pop back up that is going to be the right shoulder forming So keep an eye on that potential pattern guys not saying it's going to 100% happen All I'm saying is keep an eye on it guys because that could end up happening Anything is a possibility here on the stock market Nobody can predict the future if they say they can run away run the opposite direction because they're 100% lying to you All we can do is you know judge the past technicals here Draw our trend lines draw our supports channels all the different stuff we do on this channel The YouTube channel and that'll give us a good understanding of the overall markets and that's just how you got to do it guys That's just honestly how you have to do it So that is what we're looking at in terms of the Dow Jones We can see we're slowly climbing up here towards the close of the market And we'll take a look back in a couple of minutes here when the market does close So we can see where we ended up closing but in terms of the NASDAQ guys We're down about $40 and 50 cents right now down about 0.6% and let me just quickly draw out some resistance levels here on the NASDAQ So we can get a better understanding of some future potential movement in the overall index So we can see we're kind of trading will actually not anymore now that we had this red day We kind of broke below the support that we were trading above yesterday in between this little horizontal channel You know from the previous two resistances obviously we broke above the resistance the first resistance a couple of days ago Making it a new support level now We broke below that support level which is honestly not too good of a sign for further uptrend push in terms of the NASDAQ But we're still technically holding a higher low from the previous and the uptrend pattern is still kind of intact here In terms of the NASDAQ. So what am I gonna be watching guys? Well, if we look on this 30-day 90-minute chart It's gonna look not as similar as the SPX and the Dow if we're looking here on the 30-day 90-minute chart guys We're kind of getting a different picture than we see on the SPX and the Dow Jones as you guys recall the SPX and the Dow show a clear, you know a clear break of the channel on the 30-day 90-minute chart But the NASDAQ doesn't really show that clear break quite yet because we're still holding this 180s in May Support level which has clearly been a nice support over these past 30 days So what am I what am I gonna wait for for a further break to the downside here? I really want to see a break below this support level in terms of the NASDAQ Putting us maybe at about 70 100 flat and getting back into that 7,050 level maybe 7,075 level and from there we're gonna be watching. Let's see some clear Support levels. Let's see from there probably around like $6,950 that's gonna be a level We're gonna be keeping an eye on for potential sell-off to maybe this 180s in May. Maybe it's gonna act as a support I'm gonna be watching that level very closely in terms of the NASDAQ But as of right now guys the NASDAQ is actually holding its chart or trend rather More than the you know, obviously more than the Dow Jones and the SPX based on that 30-day 90-minute chart That we did just take a look at so that is what the overall markets are looking like now with about five minutes left In the overall market. We can see that up here. I don't know if you guys can see this area or Or if it's cut off But we have about four minutes and 50 seconds left in the market and to answer the question Is the stock market finally finally selling off? You know, we have one more Technical break in terms of the SPX for the answer to that question to be yes on a technical Basis so as of right now guys, we're about 75% Way there in my personal opinion from my understanding and from my technical analysis Sure, you guys may see things differently But this is my point of view and that's what the YouTube channel is for right to share my point of view Hopefully you guys can learn some things from it and that's just what I personally think So drop a comment down below. Let me know. What do you guys think are we gonna start selling off? Are we finally gonna see some big pullback in the year of 2019 that we've been waiting for because as you guys know You know, we're up nearly 15 16 at the highest 17% in terms of the SPX here in the matter of just two months to Two months in about six days. That's a huge huge push with a pullback being kind of inevitable at this point in my opinion So let me know down below What do you guys think about this and let's talk about what I personally traded today on the 6th of March in 2019 so in terms of what I traded today guys I traded ticker symbol TV IX and for those of you guys that watched the video yesterday This is actually an ETF that I was talking about potentially trading today if the SPX Broke that support level on the channel that we were talking about earlier, which it ultimately did today Which is why I actually ended up trading TV IX and for those of you guys that don't know TV IX is a market-based ETF meaning it trades based upon the overall market specifically the SPX the S&P 500 and whenever the S&P 500 is selling off It's red which it was today TV IX goes up in price as we can clearly see here the ETFs up about 1.6 percent right now up about 5.3% and this is one that I ended up trading this morning on a very quick little day trade, you know Right around this time period here and for all you guys that don't know one of my day trading strategies that I thought you know You know partake in is following stocks or ETFs that are selling down Heading into the market open opening up a mark exactly what ended up happening here in TV IX We can see the pre-market high was at about $30 and 30 cents We ended up selling off all the way down to about $29 and 60 cents Opening up a 2% margin of profit and from here what I try to do as a day trader is Capitalized on the potential gap fill back up to that pre-market Resistance so that's exactly what ended up happening here in terms of TV IX and whenever I'm trading TV IX guys I always have a double screen here usually meaning you can do you know Two screens you could put the TV IX ticker here, and you can also put the SPY or the SPX Indici and you know I watched the chart of what is going on with the SPX You know early on in the market. Are we making lower lows? Are we pushing down which would obviously drive up TV IX in price? And that's exactly what we ended up seeing this morning in terms of the SPX And let me quickly pull it up for you guys So what I wait for is I wait to see if we're gonna open up red and continue the red Push to the downside and is the 50 SMA and the EMA are these two moving average is going to act as Resistance points because if they do that is a good sign that we're going to continue to push down We can clearly see here guys The SPX has been getting rejected pretty much all day by that 50 SMA Indicator so we opened up the day a gap down from yesterday's close Which was a good sign that we were going to start selling off in the morning Then we started to see some difficulty breaking out of this 50 SMA But this was actually far after from when I ended up getting out But just to paint the picture for you guys, you know, this is what I wait for in terms of entry points I wait to see a possible rejection at the 50 SMA and then as we're getting rejected and we're pushing down for that Low or low. This is when I hop into TV IX to profit on the upside when the SPX is selling off But this morning guys, I pretty much ended up getting in Literally within five seven minutes of the market open and I profited on this downwards push from about 2787 down to about 2780 this little 20 minute window here roughly on the SPX That's where I ended up making my money this morning on TV IX on this initial push from about 930 a.m. You can see it started to push back up, you know at about 2985 I believe is where I got in and we were slowly filling the gap back up to the upside as the SPX was selling off right we can see the clear correlation SPX is selling off this is starting to push up and that is where I ended up getting my profits from about 2985 ish right around here up about 1% 1.2% is where I ended up taking my profits at about $30 and 2025 cents roughly quick in and out day trade on TV IX and that's pretty much it guys You know I always keep an eye on the SPY for the pre-market movement And then I see what the SPX is doing at the open of the market if we're pushing down if the SMAs are Acting as resistances, that's a good sign to hop into TV IX with a tight stop loss That's what I ended up doing today, and that's how I profited about one one point one percent You know on this trade so a lot of you guys know I'm in two other swing trades right now One in Johnson and Johnson and another one in Coca Cola Just do a quick little update on these two Johnson and Johnson's one that is actually very close to my limit sell order Right around here at about a hundred and forty dollars and where I do have that sell at this previous support Which is now obviously a new resistance. I'm in this one now I forget how many weeks at this point it's probably probably about two two and a half weeks ended up getting in at about 13550 ish been holding since then with the plan to sell at about 140 not much has changed guys I've just been simply holding the shares and another stock. I'm in is Coca Cola I've been in this one at about since about forty five dollars Still holding on to these shares with the goal to add more if we do end up breaking above this Forty-six dollar Resistance and if we don't guys let's say we double top here slowly start to sell off I might consider taking the little profit that I do have right now literally I don't have much profit at all on a table right now And the whole goal with this trade was to hold through the X dividend date Which is about the 13th. I believe of this month. So in a month or not a month a week from right now guys I'll be able to claim the dividends on Coca-Cola even if I do end up selling the stock after that So that's a pretty cool thing about holding through the X dividend date You can get the shares are the dividends from the shares even if you sold off the shares So if that makes any sense, you know Let me know down below in the comment section if you guys want me to clarify that Feel free to shoot me a DM on anything and that's pretty much it guys Coca-Cola still holding on tight and that's just the trading update for today You know Johnson and Johnson Coca-Cola still holding on quick little TV IX day trade this morning That is the update. So let's talk about five. I think five or six stocks. I'm currently watching right now I have a list here on my phone that I see potential in over these next couple of weeks And let's run through those right now the first one being ticker symbol spot Spotify ticker symbol SPOT and this one guys I'm liking this reversal uptrend pattern that we are seeing in this stock We can see the 50 and the 180 SMAs have been strong strong Resistances over the past couple of months judging on this 184 hour chart and since then we found the bottom at about $101 this was towards the end of December when obviously a ton of stocks got crushed this stock in particular guys Oh my god, it lost half of its value. I did not realize that till right now from $200 to $100 holy crap. This is probably the most brutalized stock out there probably not that's probably an exaggeration But this is definitely one of the stocks that got hit the hardest and from there guys, you know We saw a nice strong reversal pattern to the upside We saw the break above the 50 SMA Ultimately the break above the 180 SMA the 50 SMA crossing above the 180 SMA, which is a super bullish sign We're seeing higher lows higher highs We just pushed to the higher high at about 153 and the fact that I like this or the reason rather why I like The stock right now is because we pulled back from 153 down to about 136 opening up that margin of profit of about 10% and we're holding a higher low from the previous low Continuing the uptrend pattern and right now. We're at a break out resistance spot meaning if we break out of this 143 145 ish level we're gonna be breaking out of a previous resistance Which it honestly looks like we're already doing and if we break above the 50 SMA, which is the last resistance We're looking at we're gonna be testing that previous high at about 153 which is where I want to profit and capitalize on ticker symbol SPOT so on this one I want to see the continuation of the uptrend Ultimately for a push to a higher high so I can capitalize on this continuation of the uptrend so SPOT looking very good right now guys. Cron is another one That I'm watching today. Well for the rest of this week, honestly this one. We saw a big push today I believe it went up to about twenty four dollars and thirty cents Let me double check yep twenty four dollars and thirty cents in the morning And then we got that big pullback that I was waiting for and that I talked about in yesterday's video, right? For those of you guys who watch yesterday's video I was talking about Cron because Cron and ACB yesterday of our cannabis. They both did very well I believe ACB was up about 13 percent Cron was up about 10 percent yesterday And I want to see a little bit of a retracement in these two stocks that potentially hop in and that is what we ended up Getting today and on Cron in particular guys why I like it is because we're holding this 50 SMA support at a higher Low from the previous and what I want to capitalize on guys just like spot SPOT I want to capitalize on the continuation of the uptrend here from about twenty two dollars and seventy five cents Maybe twenty three dollars as a potential entry point back up to about twenty four thirty Twenty-five dollars at that resistance so that the pullback today guys really opened up some nice nice margin And that is why I'm watching Cron ticker symbol C. R. O. N. Another one. I want to talk about today is mighty old Tesla stock ticker symbol T. S. L. A. And for those of you guys that don't know Tesla You've been living under a rock for the past ten years Tesla is an electric car company. We all know this I made a video yesterday talking about how I actually bought in to Tesla stock finally as a long-term position at about 273 dollars, but in a swing trading aspect right now Tesla is looking decently attractive if we hold these levels that we're at and let me show you guys and explain what I'm talking about here We can see over the past two three days at this point Tesla has been holding the 275 support level from back here in the beginning of September and 2018 Let's say we end up holding this heading into tomorrow and we see a Significant break into the 280s. I think that could be a good entry point for a potential swing back up to the 305 Excuse me, maybe three hundred and ten level Which would be at the top of this downwards trending channel another thing could end up happening Let's say tomorrow or the next day or next week. We end up breaking this support here We can end up heading down to the 260 level Which would put us at the support of this channel the downwards trending channel that we were just talking about and from there We could potentially enter here for that upwards push back to the top of this channel again Which would ultimately be around the three hundred low three hundred dollar Levels so I do see a lot of potential in Tesla right now as a as a swing trade But we need to see those technical Indications for us to get in that I just talked about before ultimately getting in so that's Tesla guys ticker symbol T SLA another one that I'm watching is YY ticker symbol YY. This is one that did very well yesterday I forgot exactly what percent or how much percent it was up, but it was up I believe like maybe twelve fifteen percent yesterday and we pulled back holding this old Resistance rather as a new support at about eighty dollars this morning. I was looking for potential trade there But we obviously saw the five percent red day today pushing us below that support And now what I'm waiting for is to see if we're gonna hold this next support at about seventy four seventy five dollars Or actually this one right here is at about seventy six dollars Let me quickly draw that for you guys right here And this is actually the level is that we're looking like we're holding Towards the end of the market today and this is the level from back in the on the 25th of February We popped up to here making it a resistance and obviously we broke above it making it a new support So right now I'm gonna be waiting to see are we gonna fill this gap back up to maybe eighty dollars? And if we break that level are we gonna go back to eighty five dollars? I think there's a lot of potential here in terms of why why stock, but obviously if we break this level to the downside I'm not really gonna be watching this as a trade until we end up establishing a new support level from there So that's what I'm watching guys ticker symbol. Why why? Let's see two more here. L Y B is another one that I'm personally watching right now This one had a very very solid day today up about six percent. We can see this one was not on an uptrend pattern It's not on a downtrend pattern. It's actually in a horizontal pattern a very perfect honestly Horizontal pattern with us being at their resistance of this pattern right now So why am I watching this cuz we're at our resistance right now? Well, I'm watching to see if we're gonna break out of this resistance and form a potential Breakout pattern to the upside guys because whenever we break out of a horizontal pattern That is a breakout point in a stock ETF index or future And this is something that we could potentially capitalize on because it's a very very bullish move So from here, you know, let's say we break out of this point, you know, the next spot of resistance is going to be let's say Technically you can say at about ninety dollars But if we break the whole eighty nine ninety dollar range, we can end up going back up to about ninety six dollars Which could open up a nice fat chunk of profit we can see from about eighty nine up to ninety guys That's about seven point five percent. So keep an eye on this level We could potentially fill this gap if we do break out of this resistance But of course tomorrow, let's say we sell off here, you know Keep an eye for the potential bounce on the support at about eighty four eighty five dollars and from there we could end up getting in on an even better discount deal and Capitalized to the upside here at about ninety dollars and of course if we break out of there We can go up to ninety six dollars. So if we break down, let's say from eighty four dollars up to ninety five dollars That's about a thirteen percent margin of profit So LYB watching that one very very closely and the last one guys is Lab you this chart doesn't look too great It does kind of look like a falling knife still here But I'm watching for a potential support on this uptrend pattern that we're still technically on Based on this little trend line that I just drew for you guys. So if we do end up holding this tomorrow Slowly push up we can end up capitalizing on a nice push back up to about sixty five dollars And for those of you guys that don't know LABU is a biotechnology ETF It goes up in price whenever the index it follows SPS I bi is going up in price as well So we saw a big tank today in SPS I bi just keep an eye on this 50s and now in the 184 hour chart Are we gonna hold this tomorrow to potentially push back up? That is what I want to see for an entry point in LABU so those are the stocks ETFs that I'm personally watching right now Let's take a look at what the market ended up closing at we can see we're still holding above the 50s and may okay The Nasdaq would see where this ended up closing all right So we pretty much closed right at the levels actually this one tank down to about point seven five percent at the close So we sold off a bit more in the Nasdaq the Dow right around the same level down a little bit more from when we started This video so keep an eye on those 50s to me support levels guys on the Dow and in terms of the SPX Those are levels that are huge huge huge that we want to see a potential breakdown below for the continuation of the downtrend So I hope you guys enjoyed this video Enjoyed this video if you did feel free to hit that like button drop a comment down below subscribe to the channel If you're new I'll catch you guys in the next video Let me know how you ended up doing today in the comment section as always I appreciate your support And I appreciate all you guys watching peace out