 What is going on everybody is Stas 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 28th of January in 2019 We're also gonna be looking at some other earnings reports to keep an eye on some other economic data That's coming out this week and talking about some other companies that you know Fluctuated heavily today on the 28th of January. So before we do get into this guys Let's try and get this video to 50 likes. So smash that like button I really do appreciate it if you guys do smash that like button it helps the channel grow and Without further ado, let's talk about what happened today in the stock market So the SPX guys closed the day down around $20 and 91 cents down around 0.8% The Nasdaq actually fell the most today out of the three major indices down around 90 points down around 1.3% and the Dow Jones guys closed the day down around 208 points down around 0.84% so this morning guys we saw a huge drop in the overall markets We can see the big gap down from the SPX You know the S&P 500 it closed the day on Friday at around 2664 ended up opening the day today at around 2644 sold off all the way to around 2624 so at the low of the day guys we were down around 1.5% in terms of the S&P 500 and from there You know we made higher low higher high patterns closing off the day and a nice little upswing But for those of you all out there That we're paying attention to earnings reports today. We saw that Caterpillar ticker symbol CAT they ended up missing their expectations and cutting their profits for the year of 2019 we also got news out of Nvidia that they cut down their earnings Estimates or their revenue estimates rather from 2.7 billion down to 2.2 Billion dollars right massive cut I believe it was around 18 to 20 percent cut in terms of their revenue guidance for this Upcoming year right and this ended up sending down a lot of the semiconductors. We saw AMD was down a lot today We saw micron fell down and quite a bit early on in the day But ended up closing the gap and of course in video this stock got absolutely Pummelled today guys. It was down to around a hundred and twenty four dollars after this news came out or one thirty one rather But you know it fell nearly 18 percent at one point in the day. That's how low it was. It was down 18% guys so in terms of you know Nvidia the semiconductors I do believe there's going to be more on you know downside to those particular stocks due to you know Apple cutting down their revenues and obviously Apple is one of the biggest semiconductor Users right in the world and of course, you know just in general guys semiconductors have been weak over the past couple of months This is not news to us So let's get right back here to the SPX guys to see you know What's going on on a technical basis here? So today like I said guys down around point eight percent We're still trading below that one hundred and eighty day Simple moving average here, which has been a resistance for the SPX over the past couple of months We've been talking about this and pretty much every single video that I've been making recently We can see the resistance here back in the middle of October back in the beginning of November and back in the beginning of December were three separate occasions that we got rejected by that 180 SMA this past week We got rejected on the 18th of January We had two straight days of red back last week, right? And today again guys with the gap down that we saw we saw some missed You know earnings from some big companies and video cut the guidance Obviously in video is also a very big company and this ended up sending down the markets, right markets ended up going down today Again getting rejected by that 180-day simple moving average show in terms of that resistance guys Everything is still intact that we are getting rejected by that resistance here on the 180 chart And if we're taking a look on this 20-day one-hour chart here in terms of the SPX We ended up breaking that support of the 50 SMA that I've been talking about over the past couple of days guys We saw that we topped off here at a higher high at around 2675 we pulled back to around 2621 got rejected again by that same resistance at around 2675 and we ended up breaking below the 50 SMA today Which is a very good sign that we are slowly heading down and of course a double top is a bearish Formation for an effort, you know any index any stock any ETF future, right? This is a very bearish move and the fact that we did break that does give me You know hopes that we are headed back to the $2,600 level maybe back to the $2,500 level in terms of the SPX so now that we're talking about the SPX Let's just take a look at some earnings reports to keep an eye out for the rest of this week I'm pretty much going to be talking about this briefly and every single video to keep you guys in the loop With these companies so today. These are the big ones that we saw tomorrow We have Apple AMD Verizon Pfizer eBay Wednesday We have Facebook Alibaba Microsoft Tesla PayPal McDonald's Visa Thursday We have Amazon General Electric UPS Altria those are some of the big ones and on Friday. We have Exxon Chevron Merck Honeywell Sony SIGNA those are some of the big ones on Friday so this week guys one of the biggest weeks in this quarter in terms of earnings guys the biggest companies in the entire world are Reporting so like I've been saying it's going to be a pretty Volatile week this week and this whole entire month guys because for all you that don't know March 1st is the deadline that we need to reach a trade war agreement with the president of China, right? Donald Trump and the president of China have set an agreement that they're going to find a trade war solution By March 1st is it going to happen? We don't know guys We don't know but you know there is a chance that it could happen and if it does not happen I think that's going to be very bad for the stock market We're going to be heading back down to the lows that we saw a couple weeks back if there is no agreement You know in my personal opinion, so let's check out the Dow Jones guys See what's what it's doing in terms of a technical analysis here So what unlike you know the SPX guys the Dow Jones did not double top here It hit a high of twenty four thousand seven hundred hit another high at around twenty four thousand eight hundred So the uptrend in term of this 20-day one-hour chart for the Dow Jones is technically still in Tact right we're holding this trend line here as a support level from the low of the day today at around 24,300 but we are not trading above this 50 SMA guys This is going to be a resistance that we're gonna have to break above for the Dow Jones to continue the downtrend But let's say tomorrow guys. Let's say right. We break the support at around 24,300 let's say we have another red day tomorrow Apple some of the big companies Start to report their earnings and they're not doing as great as expected Which is something that we already know since they already cut their revenue guidance. Let's say this drops this You know the overall markets again I think that this is gonna break the support and we're gonna be headed back into that downtrending You know formation that we've been in you know not really that we've been in over the past couple of weeks But you know the same kind of formation that we saw back in October through that sell-off and obviously in December guys Right when we saw a couple of weeks of selling off I think that is possible if the big companies report bad earnings That's gonna send the stock market down in my personal opinion. So on the 20 day out one hour chart That's what I'm looking at in terms of the Dow You know this five-day chart not really telling us too much here other than the fact that we held Above that twenty four thousand three hundred dollar support level and in terms of the 180 chart here just like the SPX guys We're trading below the 180 SMA which has been a resistance over the past couple of months in terms of the Dow Jones so let's take a look at the Nasdaq which is currently still falling because These are the futures guys and when we started recording this video. We were down around 89 points now We're down around 93 points. So the selling continues after the bell in terms of this Nasdaq and just like the SPX guys We see a double top formation here in terms of the Nasdaq on the 180 chart here We can see strong resistance at around sixty eight hundred and fifteen dollars. We topped off here for the higher high We did not pass it again here meaning that it's a double top bearish formation, right? And now we're testing that support at around sixty six fifty ish right right around here is a very strong support for the Nasdaq So keep an eye on that guys tomorrow. Let's say we sell off strong, right? Apple does very poorly whatever, you know the stock start to sell off. I think if we break that support Right, which is very possible if we do end up selling off tomorrow pretty heavily You know that's going to be sending us back into that sell-off stage back into that bearish pattern that we saw Back in October and of course back in December of 2018 so judging off the 20-day one-hour chart we can see exactly what I just said on a little bit of a closer basis Right, we're not trading in this channel anymore We double top that around sixty eight twenty and now we're heading down testing that support at around sixty six fifty So keep an eye on these levels guys in terms of the overall markets And of course those earnings reports that I showed you guys just a couple of minutes ago now before we do talk about What trade I made today? I just want to let you guys know some other key Economic situations economic dates that you guys want to keep an eye out for this week And I have it right here on my phone I'm gonna read off very quickly what you guys got to keep an eye out for so this Wednesday There's a monetary policy meeting are the interest rates going to hike up again like they did last month Probably not right because the Fed was talking about how they're going to ease up in 2019 in terms of raising their interest rates They said there's probably gonna be around two interest rate hikes in 2019 and there was obviously more in the year of 2018 Another thing to keep an eye out for guys in terms of the economy is the jobs report that is this Friday from the labor Labor department guys this is gonna be another huge huge economic factor to keep an eye on that can have a sway on the entire Market along with the earnings and of course what the Fed monetary policy meeting is going to you know Come to a conclusion about right those are very important things to keep an eye out for this week And now let's talk about what I personally traded today on the 28th of January in 2019 Before we take a look at some other stocks ETFs that did very well today and some others that you know gap down as well So I personally traded I'm sure you guys can guess it TV IX. This is pretty much my go-to ETF whenever the markets are Selling off pretty much right because this one tracks the SPX very closely right and whenever the SPX also known as the S&P 500 is Selling off right TV IX is going up and we can clearly see that right like we saw in the beginning of this video The S&P 500 gapped down from the close on Friday and this obviously Gapped up right we close we close at around 44 dollars. We ended up gapping up to around $47 so where did I end up trading this today guys? I personally got in on the second pullback or rather the first pullback that we see here, right? We can see you know all the way up to around 1015 the SPX was selling off pretty heavily, right? Like we can see we opened up at 2644 ended up selling off to around 2629 and typically guys not always but typically when the markets sell off very heavily in the beginning of the day, right? We typically see a little bit of a push back up right a little bit of a push back up To put some more buying power into the markets, right? This is exactly what ended up happening today And this is honestly what I was waiting for right because I didn't want to get into TV IX when the markets were already down around 1% here right at the beginning of the market because I was Anticipating a push back up because like I said guys I whenever I started the markets usually not always but usually We do see a push back up and that's exactly what we ended up getting and at this point I wanted to see if we were gonna start trending back down and exactly you know That's what ended up happening right at around 1030 is when we start to trend back down And this is when I started to scale into my TV IX position and guys like I always preach You know be patient wait for opportunities to open up to you Don't rush into a trade right at 9 30 a.m. Or whenever the market opens up in your time zone Don't rush into trades guys. You have to take calculated positions. Have your managed risk right manager risk and understand You know when a good opportunity is presenting itself to you because when you're you know beginner out there You know a lot of times you can get faked out by the stock market meaning that you think it's a good opportunity You slowly start to jump in and then you get rejected heavily and obviously it goes against you right meaning You know you have to wait for the 100% Confirmation and wait for that opportunity to open up to you right? This is what I personally did today We slowly start to sell off pretty heavily right like I said Did not want to get in due to the heavy sell off Then once we start to push back up like I anticipated all I wanted to see was a slow Slow push back down and that's what we started to get so that's what I ended up getting into TV IX at around 1030 And we could see how it correlates here on this chart right? I wanted to see if it was going to hold the 180 sma obviously when the markets are we're selling off more You know TV IX had no problem holding that 180 sma on the one day one minute Ended up getting in right around here at 48 dollars and sold off roughly at around $49.05 guys. This was a very quick trade I pretty much just wanted to fill the gap that was open here from the sell-off right meaning that The resistance when we started to sell off here was set at around 49 dollars and 50 cents We started to sell off like I said when the spx started to push back up And then when the spx started to sell down right started to push down in price that gap from TV IX that gap in TV IX Was slowly starting to fill and this is where I wanted to make my profit So from around 48 dollars guys up to around 49 dollars and five cents Let's see how much profit I grabbed from this trade So we can see, you know, I made around 2% on this trade in terms of TV IX And I always preach to keep your you know, keep your goal for the day Conservative don't try to hit that home run trade every single day The best way to trade is to keep it conservative and keep it consistent guys. The two C's conservative Consistent conservative Consistent this is the way that you build your trading account build your wealth over time If you try to hit the home run trades every single time sure you'll make 20% one day But guess what the next day if you try to hit a home run trade Let's say you're trading penny stocks or some other volatile, you know assets whatever You can lose 15% the next day without proper risk management, right? Which a lot of beginners out there don't have proper risk management That's why a lot of people end up blowing up their accounts when they're trading stocks to start out, right? So that's pretty much what I ended up doing today in terms of um, you know TV IX And I do expect more blood in the water over these next couple of days I do expect more selling meaning that I'm going to be trading TV IX Probably this entire week guys, right to be completely honest with you guys if the market does end up going away I think it's going to go every single day I'm going to be hopping in and out of TV IX Like I did here today and like I was back in december and back in october and a little bit in november When the markets were extremely volatile selling off like crazy pretty much every single day So let's talk about Very quickly some other, you know ETFs and stocks that did very well or poorly today So clearly, you know catted pillar guys like I said in the beginning of this video They've reported earnings not too great their profit guidance was cut for this year They dropped a sizable amount Let's talk about two other stocks that did very well today that I track Which are marijuana stocks guys and let me tell you something I did not think kron was going to reach these levels guys, but I was mistaken, right? I said like I said a couple of videos back I was planning on doing a put option on kron Thank the lords that I did not place that trade because I would have placed it right around here at around I think it was at like $15 and I was thinking about it We shot up all the way to nearly 19 dollars today guys in kron ticker symbol c r on And if you guys traded this one out there, congrats guys 15% day in kron Absolutely ridiculous. I know a lot of people I think there was a couple people actually in the group chat that we're talking about this one in particular and another one cgc not nearly as good of a day as kron, but still a very solid day 5 2 dollars and 29 cents on the day today in terms of cgc Keeping an eye on the 50 to 55 dollar level. I want to see honestly Is it going to break out maybe uptrend into the 60 dollar range like kron broken to new highs Is cgc going to do that same thing? Maybe possibly right? Anything is possible with these marijuana stocks. They are very very volatile, right? We all know this and let's take a look at some other ones MU ended up selling off very heavily today and filled the gap in a matter of like an hour guys Hour and a half. So if you guys were able to trade MU today on this gap fill, let me know This was a very very solid play today an AMD as well Just like in video guys this one tanked pretty heavily from 2170 all the way down to 20 dollars And it didn't end up filling the gap like MU But it ended up pushing back up to around 21 dollars So if you guys were able to catch this trade, let me know down below in the comment section And let me know about any other stocks ETFs that you guys personally traded today I would love to know about that. So before I do end off this video I want to talk about the gold futures very quickly and tell you guys Why I see strong potential in jnug moving forward So we saw the bounce on the 180s and may for the gold futures, right? And the important thing I want to talk to you guys about very quickly Is the fact that we broke this resistance at around 1300 dollars Which we've been talking about over the past couple of weeks in terms of the gold futures We broke above it. We consolidated and now we're bouncing above it treating it as a new support level So this level guys at 1300 could be the level where the gold futures end up running up to 1310 1315 1320, you know up another two three percent at least in my personal opinion And let's say we do end up doing that You know, I think jnug is going to be a fantastic play guys. I think jnug, which is the bull ETF to gold Excuse me, it's going to be a very solid play if gold ends up riding into the 1300 dollar level So in terms of profit guys, you know, we could potentially see a slight pullback Who knows but from here guys up to 1050 that offers a 4% margin In terms of um, you know jnug So, you know what I'm watching tomorrow guys very simple I'm looking to see, you know To see whether or not we're going to be trading off more selling off more Opening up that opportunity in tvix. I also want to see, you know Potentially playing short term puts against some of the larger companies that we talked about earlier on in this video Just in case they end up selling off right another great way to hedge a position Especially your long-term positions is playing put options against them, right? Meaning you'll profit on the downside if there's downside, right? And you'll be able to put money Into your long-term portfolio by buying more shares, you know Once that stock ends up falling down with the profits that you made from the put option, right? So that's one thing i'm planning on doing if the technicals are pointing to that and of course If the market perceives their earnings reports negatively, right? This is very very important I want to wait and wait till to see, you know What the companies report before placing any put option trades? So I hope you guys Enjoy this video if you did feel free to drop a like leave a comment and subscribe 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 I'll catch you guys in the next video smash that like button. Let's get this video to 50 likes I appreciate you guys to the fullest peace out