 What's going on everybody is Stas here welcome back to another video so in today's video We're going to be doing an overall market update taking a look at the Dow Jones the S&P 500 and the Nasdaq We're also going to be doing a trading update talking about what I did today on the 20th of August in 2019 in terms of my trades as well as going over some other stocks and ETFs that I'm personally watching and looking to trade Here heading off to the rest of August and heading into the month of September in 2019 so if you enjoy this video feel free to go down below and hit that like button consider subscribing if you want to see more Investing stock market trading and personal finance content and let's get right into the video guys So right now with about three minutes left in the market today the S&P 500 is treading right above $2,900 it's down about 22 points today down 0.75% as of right now if we go over here to the Nasdaq guys the Nasdaq is down about 0.56% down about 44 points and the Dow Jones Industrial average is down about 0.64% down a bit more than the S&P in the Nasdaq It's down about 170 points as of right now and if you guys watch my video yesterday I kind of called this out right on the S&P and specific if we zoom in a bit here I know there's a bunch of craziness I can you know pretty much show you guys right here You can see that we were at a point in time where the S&P was almost forming a triple top now It's pretty much solidified that it was a triple top especially since we're dumping here But yesterday at the close of the market we were seeing a bit of a resistance there But we didn't get the full-on Rejection that we were waiting for in today's release session right in which we ended up getting but yesterday We didn't quite get it yet And I was talking about how if we were to get rejected here that was going to be a pretty bearish move That would be the solidification of that triple top and we may be seeing further red from there And you guys can clearly see you know if we go to the 20-day one-hour chart You can see it even better right resistance at 2930 2930 resistance again yesterday We popped up a bit we saw a lot of resistance at that 2930 level and today we gapped down we tried the fight You know up earlier in the day today We tried to come back, but we pretty much hit a lower high from yesterday's high at about 2928 or one of the highs from yesterday and we down trended for the rest of the day from there And you can clearly see here guys We're dumping pretty aggressively here heading into the last couple of minutes of the session on the 20th of August Which is today and if we go to the longer-term chart very quickly Let me just quickly clear this so we can draw the support and resistance tools or the support and resistance levels together Using the handy-dandy tool that I always use here. You can clearly see guys You know that 2930 level was roughly a resistance I guess you can say 2930 to 2950 was of resistance from back a couple of months ago in April right also, you know that was a support level back in June We popped to all-time highs there and obviously when we broke that support obviously we made it a resistance again We hit that double top now a triple top right under that spot So now that it does seem like the SMP is falling right we might be seeing some lower levels here So I want to illustrate some supports for you guys right here and the first one you can see is $2,900 which is literally where we are right now That's a support that we're currently holding There goes the market we closed literally at 2,900. I'm interested to see you know Are we going to hold this tomorrow? Are we going to dump below? That's going to give us indication on where the market especially the SMP, which is the 5,500 largest publicly traded companies in the United States It'll give us the indication of where it could be headed right so if we break 2900 we may be going down to let's say 2850 right that's a level that you guys can see here That was a resistance back in March of 2019 we broke that making it a support and then we dumped below it again making it a resistance back here in June and That could be a spot that we could go to if we break 2900 a bit lower than that you guys can see 2810 roughly 2815 is another level of support right you can see we actually got Roughly to that spot a couple of days ago 2830 ish 2820 a couple of weeks ago in the beginning of the month We got roughly to the same area again, so honestly guys if we break into this 2800 level You know 20, you know 2800 ish we could be we could be going to 2850 2820 2800 flat and it could get very ugly if we start to break into 2700 you know we could be going down a 2730 right 2730 is a very strong level That's actually where we got to when we sold off in the month of May in 2019 so those are just a couple of levels that I'm watching here and on the flip side You know there's also a clear resistance under this 50 SMA here We we struggled on three separate occasions They're forming that triple top if we go a bit closer here on the 20 day you can see under the 180 SMA There's also a resistance on this hourly chart here If we break below the 50 SMA here, that's going to be another technical break that could bring further down side Those are some things that I'm currently watching right now if we go to the Dow Jones Industrial average you can see it's very similar right we got roughly a triple top here more like a double top and then a lower high here at About 26 150 we're trending below that 180 SMA here Which is the gold line on this hourly chart looking very very bearish here, especially since we dumped and actually we're down About point six six percent today on today's session right we try at the fight to break out here And if we were to break out of yesterday's highs that would have been a pretty bullish move here on the intraday chart We obviously failed to do that We made lower lows from there lower highs and a pretty big dump here towards the end of the trading Session if we go out to the 184 hour chart very quickly guys You can see here the Dow is struggling very much to get above 26200 we got those three rejections there now it seems like we're starting to get back into the $25,000 level guys right you can clearly see it and if we break 25 900 or 26,000 flat which honestly we already are doing that as we did close below that level You know these are some levels we may be testing we may be going to 25,850 we may be going down to 25,400 and the level we hit back in May towards the end of that may sell off heading into the beginning of June We got down to $24,700 which if we draw and see how much of a percentage drop that is that's about another 5% drop from where we currently are right now and you know with the way the market is right now We all know the inverted yield curve the trade war tensions You know with all these different things that are going on You know the economy on the brink of a recession as a lot of people in the community have been talking about This could lead to more turmoil You know heading into the next couple of weeks and like you guys read in the title There is this one thing that I'm sure you guys can probably think of that is holding up the markets right now that is Kind of really pumping some optimism into the minds of investors and traders Which I personally think and I'm sure a lot of you guys could agree is a very short term fix here And that is the interest rate cuts, right? We got the interest rate cut back in July and now the next meeting you're you know the next potential cut Which I honestly think we're going to see another cut is going to be here in September So these are short term fixes guys whether we get a 25 basis point rate cut a 50 point basis Point rate cut, you know that will take the market pretty positively I personally think right the market will take that positively whether it's a week two weeks But the thing is guys the market is doing this right now Or the Fed is doing this because the Fed knows that the economy is at the brink of a recession It knows that it needs to put its foot down and start cutting these rates So I'm viewing this as pretty negative in terms of you know a longer term outlook here on the economy And it's really the only thing one of the only things right now That's really giving hope to people out there, and I'm sure a lot of you guys could agree Let me know down below in the comment section What do you guys think about that and if we go to the Nasdaq very quickly you can see we're dumping even further right now These are the futures were down about point eight percent right now and notice how you know We're seeing a double top here on the Nasdaq resistance under that 180 SMA here on the four-hour chart, right? We're noticing how if we do end up getting dumped I've rejected here and start to dump down the next support that we're looking at Here is about a hundred points lower from where we are now at about 7,570 right that's a very strong spot. We actually had you know a couple different times a point in times in the past where We got rejected at that point right 75 50 we got one rejection back in March another Rejection back in May another rejection back in June and once we broke out of that level obviously it became a new support We double bottomed at that point or actually no not at that point We got a bit of a support here back in the middle of August a couple of days ago We popped up and now that we're seeing that resistance. I just talked about under that 180 SMA here on the four-hour chart I'm thinking we may be retesting 75 50 and if we break that, you know 74 30 may be coming up 72 60 roughly 73 hundred may be coming up and if we see here the end of May Right, we got that big sell-off in the month of May and the end of May is where we kind of bottomed out here on the Nasdaq Just like the S&P in the Dow that level was at about $7,000 which is 600 points lower from where we are right now So if the markets get rocky we start to break these key levels of support, you know 7,000 may be coming on the Nasdaq, but that is a far bit away here guys We do have to start breaking these levels first before even considering us getting down here But I'm just looking and planning these support and resistance levels to kind of get an idea of where we could be Headed so that's kind of it right now guys the markets took the dump like I did expect and like I mentioned Yesterday's video really the rate cuts at this point, you know Jerome Powell and is really looking to do it I really do believe the Fed is going to cut rates We don't know a hundred percent, but I'm I could tell you off my opinion There's like a 70 80 90% chance that their rates are going to be cut here. Trump obviously wants them He's pushing for them and really the the whole economy right now in the stock market I believe is kind of hoping for that for really higher stock prices at this point because we all saw when we got the The news a couple weeks ago months ago whenever that was that the Fed was going to cut the rates The market was pricing that in so heavily it pumped up the market up to all-time highs the S&P hit 30 25 and once that rate cut came the markets dropped We got the tariff news the markets dropped after that So I'm thinking you know, maybe maybe we go up a bit here You know if the if the markets do cut the rates and who knows guys, maybe the market doesn't react to the rate cuts I would love to know what you guys have to think because the truth is no one really knows how the markets going to react and What is going to happen until it does happen, right? So let's just Transition into what I ended up doing today today was a good trading day for me to be completely honest with you Guys yesterday actually didn't trade because I did see the overall market Gapped up and kind of saw a resistance at that level that we talked about in yesterday's video, which was on the S&P at about 29 30 So I figured I want to keep it safe Not trade or played safe rather not trade and wait for the opportunities to potentially open up Tomorrow which was today, right? That's what I was saying yesterday an Labd was one of the ETFs that I talked about in yesterday's video Do you guys remember that the biotechnology ETF? This is actually the bear ETF And this one trades based upon SPS I bi for those of you guys that watch yesterday's video You probably recall this right? This is a biotechnology index whenever this index is selling off, right? labd is going up at a 3x rate and the whole kind of Strategy behind this trade was you know the markets were up for those two days, right? We saw the markets were up for those two days, and I was thinking to myself You know we're seeing a bit of a resistance on the S&P typically not always but typically when the overall markets do poorly You know SPS I bi the index this index right here does poorly as well So if we look on a technical basis this index was trading right under the 50 SMA right under that 180 SMA on the 4-hour chart where over the past couple of really months every time it's gone to that point It's gotten rejected. So with my personal analysis. I saw the markets topping off the triple top on the S&P I figured okay if the markets gap down a bit and start to push down this could end up dragging down the S&P Biotechnology index and I could end up getting a good position in on labd for a potential day trade and guess what happened guys That that exactly happened right exactly that is what happened And you know a lot of the times these um, you know the way you want it to happen doesn't always happen Right the way you plan it does not always pan out It doesn't always play out according to plan but today was one of those days where it ended up playing out Perfectly right take a look at what happened here. So yesterday Topped off at 6500 on the index we gap down heavily today Which kind of gave me the idea of we may be seeing red today We may be seeing red today the futures were red as well in terms of the overall markets We pumped up here This is when the markets tried to go on that rally but got rejected as well And once we started to dump here this started to give me you know kind of an incentive to get into Labd which goes up whenever this index is going down, right? And if we just look on the 20 day very quickly 20 day one hour Take a look guys, and we talked about this time frame yesterday as well I talked about how you know if we did get rejected by the 180s ma This would be a huge play on labd Well, we got rejected by that 180s ma guys We started to push down pretty aggressively and that really just gave me the go ahead on Labd to start building a little position and this was a pretty um not really a quick trade I did hold it for about two hours today And I really got in after this dip not right here That would have been perfect guys, right if I timed it perfectly But at this point you have to understand in real time We don't know that it's going to bottom off here, right? I wanted to see if it was going to hold and then pop Pull back and maybe hold a higher or low and that's exactly what ended up happening Right, so I didn't pull the trigger right here. That would have been the perfect entry point, right? But I ended up waiting a bit after right I ended up waiting a bit after as we started to pump up right as we started to pump up and ride that 50s ma I pretty much played it on I believe it was this pullback right here. We pulled back nicely 2050 we started to hold that 50s ma We started to ride it up and as we broke that pop pre market or rather once the market opened At about 2060. That's when I started Excuse me scaling into the position here on Labd and it wasn't a crazy profit, right? It wasn't a crazy move. You know, I got in Roughly right here and I sold out after we started to break up above 2090 So overall it was about a 0.8 to 1% move here Obviously guys if I were to get in at 2016, right, you're probably like Stas Why didn't you get in a bit earlier? Well, I'm a really conservative trader guys. I don't like You know getting in too early if that makes any sense So I didn't get in here, you know, that would have been a three four percent move But I played it safe and I got about a 0.8 to 1% move there on labd And you guys can see it's spiking up here after hours as well I'm sure the index is falling even more and you guys can see the markets You know the e uh the e s the e many the nasdaq futures Those are continuing to drop, you know as I'm recording this video So that's honestly all I ended up doing today guys. I traded labd very quick In and out here. It was about an hour or two hour hold something like that And that's what that's all I did guys I would love to know what you guys ended up doing today in the markets If you would like to share drop that comment down below and now very quickly Let's get into some stocks that I'm personally watching and stocks that haven't been talked about a lot by me Especially and I haven't really been hearing a lot about these stocks and these are the marijuana stocks guys I kind of want to talk about two in particular here cgc and cgc here It's actually a stock that is getting to very interesting levels if we take that support tool out very quickly You guys can see that cgc right now is actually approaching $25 where it ended up bottoming out once About a year ago back in july in 2018 it bottomed out there again back in december of 2018 And now we're starting to approach that level again. We're at $27 now We're starting to get to that $25 level of support and just to give you guys a clearer picture You know cgc can it be growth company for those of you guys who don't know This has been down trending like crazy over the past couple of months. We hit the high At about 52 dollars. We've been getting rejected by that 50 SMA We got the bearish cross the 180 SMA has been acting as a resistance All of these negative signs negative technicals pointing to more downside have been developing right and every time though You have to realize that every time You know a piece of news comes out positive news maybe earnings Right or whenever we get a technical break and some hype is built around these stocks They go crazy, right take a look at this other time that we got to 25 dollars Which again is why i'm watching cgc right now Let's say, you know, we get to this point and we pop up again This could be due for a massive run guys We can literally double our money if we get to 25 and then run back up to the 50s, right? Which is why i'm really really interested in just keeping an eye on it Although it's still on the downtrend once and if it breaks out it could offer huge profits Take a look back here a couple of months ago like i just said about i got a bit sidetracked 25 dollars We broke out of that 50 SMA and then from there It's like a rocket ship guys literally in the month of january from about the fourth of january All the way to the end of january this stock went from 30 dollars per share 28 30 dollars per share All the way up to 51 dollars per share That is absolutely ridiculous Then we hit that resistance sold off a bit had another good run back up to the resistance And now we're selling off we've been selling off aggressively over these past couple of months so guys You know, this is just one to keep on your radar I'm for sure keeping an eye on it because again like i said when these marijuana stocks get hot They get really hot and they do very well And i'm going to be waiting on the sidelines for that technical break to see if we get it And then i'm going to capitalize on that another one that's been hot in the past But it's gotten crushed is chronos group ticker symbol c R o n and take a look at this guys we hit 25 dollars roughly in that same time period as uh You know cgc the marijuana industry the marijuana stocks in general We're doing very well at this particular time period and since then we've shaved off Over 100 or you know more than 100 you know the stock's lost its value, right? You know over the past couple of months a lot, you know from 25 down to about 11 dollars here and we can see You know on this three year one week chart notice how we're approaching old levels of resistance at about 11 to 12 dollars So i'm interested in seeing are we going to pop and hold above these levels here as new supports? Maybe fill the gap back up to 15 dollars if we break 15 that could be a pretty bullish move there back up to the 20s This is what i'm watching for Um chronos here, you know another one that i'm personally watching um is natural gas, right? We talked about natural gas a lot, you know over the past couple of videos natural gas at this point in time It did pretty well today. It was up about 0.4 percent if we go to the 20 day one hour chart You guys can see ever since we've bottomed out at about 202 We've been reversing in price the price action has been showing us a bit of a bullish move, right? We've been breaking out of moving average resistances. We've been seeing the bullish cross We've been holding the moving averages as supports instead of getting rejected by them as resistance levels This is looking pretty good to me But one thing that I want to see here now is a 4 hour break above On the 4 hour chart a break above that 180s to may I think if we get that that's going to be a very bullish move here And especially now that we're headed towards, you know, the colder seasons natural gas typically does well And the winter months here in the united states So i'm really interested in seeing how this does end up playing out And of course we trade you guys and degas on or I personally traded I'm sure a lot of you guys traded as well if you do follow You know the the natural gas Yeah, you know futures here and etfs that trade based upon it and this one goes up whenever natural gas is going up Right, so this could offer a lot of potential over these next couple of weeks and months as and if natural gas does end up popping up so Guys that's pretty much it right the marijuana stocks natural gas Labd i'm watching that one again for tomorrow just in case the markets dump again Right, it's very very possible the markets continue to run down And let's say the markets dump and break 2900 on the s&p, which I think is very very possible You know spx s which goes up whenever the s&p is selling off at a 3x rate You know this could be a very good play here on a technical basis You know we're seeing a bit of a bullish move here the triple bottom We're starting to pop up this can very well fill the gap up to 20 and 50 cents Which offers about a seven eight nine percent margin of profit You know a lot of the large caps right now A lot of the large caps right now, which is why i'm staying away from them. They're not looking attractive, right? Facebook was looking decent, you know on the sunday video that I recorded But it's still it's really still getting rejected by the resistance here of this wedge We're not getting the breakout that we want so i'm not going to trade that one Right, you know amazon's another one. That's not looking too good right now We're seeing a bit of a resistance at about 1825 if we break the 50 s&p That's going to be very very ugly in my opinion I guess apple's the only one that you can make an argument about right now But either way apple's overbought at this point in my opinion It would need to see a pullback at least to 205 to retest before me even considering a position and then again I rather just place some of these inverse ETFs and market ETFs that I do have listed right here on my watch list, right? Microsoft is another one. That's eh, you know, it's looking not really good at all to be honest You know, we can see this one's also in a bit of a wedge here You know if this breaks out this could run up to 140 for sure, right? But if we get up end up getting rejected we start to push down to 134 and we break that could be a very bearish move So these are just a couple that i'm personally watching as well as drip Let me throw this one in as well because it didn't really play out Accordingly to what I thought it would in yesterday's video, but we have to give it some more time It didn't break the pattern that I talked about right for those of you guys that didn't watch that I talked about how we may hold, you know, this higher low here at about 95 97 We didn't necessarily break that pattern by, you know, selling off further. We simply consolidated, right? So this could definitely pop up tomorrow Which would give it a huge margin of profit if it does end up getting back to 100 100 10 100 15 120 there's about 20 percent margin of profit on drip So that's it for today's video guys if you enjoyed the video Feel free to go down below and hit that like button consider subscribing If you want to see further content for me and drop a comment down below Let me know your thoughts on the market right now I would love to know and if you want to be further connected with our community the strive smart community The facebook group is linked down below The discord group chats linked down below and my personal instagram as well as the strive smart instagram Is linked down below as well same as the twitter so i'll catch you all in the next video Thanks again for watching. I really appreciate every single one of you guys. Peace out