 What is going on everybody, Astos 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 talking about one trade that I made today on the 18th of January in 2019. And we're also going to be looking at some other big movers that we saw today in the stock market. Because, you know, right off the bat, guys, looking at these charts, we had a green day, meaning that a lot of the large caps did very well today. Some other ones didn't do too well today. We're going to be talking about that as well. So if you guys do enjoy the daily content, if you do enjoy and find value in my videos, feel free to smash that like button and let's get started with today's video. So like I said, guys, today on the 18th of January, we had a very, very strong green day. Starting off with the SPX here, we were up nearly 2%, actually nearly 1.5% at the close, up around 1.32% to be exact, up about $34.75. The Dow Jones closed the day today at around $24,706, up around 1.38%, up around $336 on the day. And the NASDAQ guys up around $85, up around 1.27% today. So obviously, you know, judging off of the major indices, the three major indices, you know, a lot of the stocks did very, very well today. You know, we saw Square did a phenomenal today. If we're just talking, you know, some stocks off the top of my head, you know, Square did very well today. You know, Micron did very well today, which has been getting slaughtered over the past couple of months. MU, in my long-term portfolio, I'm down a pretty big chunk, you know, on this position. Let's see what other ones. Nike did very well today. They cracked above $80, right? So, you know, a bunch of these large cap stocks, you know, Apple did very well today. You know, Facebook did pretty well today, you know, up 1%. Amazon didn't do too well today, but still ended off the day pretty green. And we can see here, you know, their earnings are coming up on the 31st of this month, and Apple's are coming up, you know, on the 29th of this month after market hours. But let's not get too carried away. Let's talk about, you know, what happened today in terms of the major indices. So in yesterday's video, I talked about how the next resistance we're going to be seeing on the SPX was going to be around the 2635 level. And obviously, we blew right by that, guys. We blew right by that up 34 points, putting us at the 2670 level. And I also talked about this level that we are in right now in the yesterday's video and in many videos over the past couple of weeks, guys, because this 2670 level is the level that I predicted that we would be, you know, right under the 180 SMA at, which is right here, and we would be right at this other resistance at around 2675, 2680. And we can see now, guys, obviously, we plowed through that resistance from yesterday's video. And now we're trading in this channel here from around 2620, which we were at yesterday, roughly. We busted above that today, obviously, and around 2675, 2680, which we are having trouble getting above now. So, guys, pay attention to this resistance here, this upcoming week. If we do end up breaking out of here, guys, like I've been saying over the past couple of weeks, this is a huge, huge resistance. We got rejected once, twice, three times during the past couple of months that we've been selling off, you know, at this resistance. So, if we do break out of here, guys, which we could honestly break out of there, guys, because we've been seeing a lot of optimism in the markets lately, although in my eyes, you know, it's more of a fallacy at this point, right? You know, I feel like the market is still in a state of where, you know, it should be selling off if that makes any sense, right? You know, a lot of the economic, you know, indicators are not looking too great. Growth is not looking too great right now. You know, the trade war, all of these different things that we've been talking about and we know that are hurting the overall stock market and economy are kind of wiped under the table right now in a sense with how, you know, the market has been doing. So, in terms of me saying it's a fallacy, guys, I still think there is downside to come, right? I think all of these green days in a row here have gotten, you know, into the trader's heads a little bit. You know, they're thinking like, okay, we're going to reverse to the upside now. When is a red day coming? You know, it's been messing with our heads, right? Me including myself, right? I've been expecting a red day. We haven't gotten it and we're at that point now of resistance where I think we should finally get a red day. But if we break out of there, guys, you know, at that point we're out of that downwards trending channel in terms of the, you know, the 180SMA and we would have to get back to at least 2790 to continue, you know, pushing up through that uptrend. But again, guys, I've know I've been saying this for a while. You know, I do expect a red day in these next coming days, guys, especially since we're a little bit overbought here. You know, this news that's still surrounding us in terms of like the Fed, you know, slowing down on interest rates. We got some news yesterday. I think it was fake news about, you know, tariff starting to come down. You know, there's been some optimism out there, but I'm not buying it to be honest with you guys. I'm not buying it. I still think we're in a slowed down phase. Obviously, we still are. And I do see some red coming, you know, pretty soon. Let me know what you guys think about this. I would love to love to know. So on the Dow Jones guys, very similar position, right? We're right under that 180 SMA. We're trading in between that channel of around $24,400, $300 right at this support here. And, you know, the channel, you know, the top resistance part is literally right where we are right now at around $24,700. So what I'm waiting to see, guys, is whether or not we're going to break the 180 SMA here, break this $24,750 resistance. And if we're going to end up testing this one here at around $26,000. So this one's kind of far, guys. It's a little bit out of reach right now, around 1,200 points away. But if we do end up getting even more good news, you know, if we do end up seeing more, you know, volume and push in the markets, we couldn't end up getting, you know, back up here. But I personally think it's unlikely because we've been seeing a lot of green guys since the 26th of December. Literally, you know, at the time I'm recording this video, it's the 18th of January. So it's almost been a month of stock market recovery, meaning that, you know, we're due for some red, guys. We're due for some red. Again, drop a comment. Let me know what you guys think about this. We're seeing, you know, the RSI is a little bit overbought. And, you know, I don't use one indicator to make my decision. I don't recommend anybody out there to just base their decisions in terms of trading off of one indicator. But, you know, using one indicator with some other technical analysis, with some other indicators, is how you should formulate your decision, of course, you know, with some fundamental analysis in there. And, you know, that's what you should be doing in terms of, you know, trading, right? But, you know, if we're just judging off the RSI, again, you should not just base it off one decision. But in this case, let's just judge it off the RSI. You know, we are a bit overbought in terms of the Dow Jones. We're pushing the 70 level. We're currently at 73. And, you know, I do see a pullback coming, guys. I know I've been saying that. I'm still sticking to my word. I see it coming. I'm just being completely honest with you guys. So the NASDAQ here, you know, again, $85 day here in terms of the NASDAQ. We broke this previous support level, which was a resistance at around 67. 60 right around here, guys. We're obviously trading in the 6800 range right now, you know, in terms of NQ. So what to look out for, guys? Take a look at this resistance right here in terms of next week. It's the top at around 68.50, 68.60 right around here. If we do end up breaking out of there, guys, if we do have some more green next week, you know, we could be testing the next one at around 70.100. But again, that's around 300 points away. It would have to travel another like 4%, 3%, 4% to get there. And that's a little bit tough, you know, with what the technicals are telling me right now, you know, in terms of the NASDAQ because we've had so many green days, guys, literally like I said, it's been around a month of green days. I do expect a pullback, you know, something similar to this, right? Maybe even worse to get us back into that downtrending pattern very, very soon. So, you know, in terms of the overall markets, guys, that's what I'm looking. We are at major resistances right now on the SPX. Keep an eye at that 2675, 2680 level. And it's very important, guys, in my opinion at least, to mostly keep an eye on the SPX when you're doing your, you know, market analysis. Of course, you know, look at the Dow. Of course, look at the NASDAQ. But keep an eye mostly in my personal opinion on the SPX because this best represents the overall U.S. market because it has the 500 largest companies, right? The Dow is more of, you know, value plays, right? There's not a lot of growth names in the Dow 30 guys. For those of you guys that don't know, you know, a lot of the Dow 30 companies are companies that have been here for a very long time. They're more dividend plays. They're slower growing and they're more value plays, right, but the SPX, you know, it may have some of the Dow companies in it because a lot of the Dow companies are huge, but it also has some more, you know, bigger growth companies that grow their revenues like, you know, 30, 40% year over year. Unlike some of those Dow companies that grow them maybe at like a 2, 3%, 4% year over year or something like that, right? And again, these are all numbers just coming off the top of my head. They might not be exactly correct, but, you know, in the ballpark range, that is what I know, you know, that's what I know about, you know, the Dow and the S&P in terms of numbers, right? So just a little side tangent there, guys, but in terms of what I traded today, now that we got to look at the overall markets, I traded UWT today. And I called this one out in the Discord chat earlier on in the day. And if you guys do want to, you know, get into that Discord chat. It's 100% free. The link is down below in the description box. I think we have like 450 members in there, guys. And, you know, it's been absolutely amazing. We're talking about stocks, trading, investing, strategies and just networking with each other on a day-to-day basis. And again, the link's down below if you guys do want to get in there and we're talking around the clock, guys. It's gotten to a point where, you know, everyone in there, there's a select people, you know, a select group of people of around 20, 30, 40 people now that are extremely active, right, every single day. And I really appreciate you guys out there that are watching this, that, you know, are very active in there because, you know, to make a great community, to build a great community, you truly need active members that like to engage, that like to help. And, you know, it's all about engaging and helping in my opinion because, you know, if we're bouncing knowledge off each other, if we're bouncing, you know, ideas off each other and, you know, we're helping each other in our success, you know, that is what I think is the best, most important thing about building a community, right? So, you know, again, a little side tangent there, but, you know, we saw a huge spike up today in crude oil and this is what UWT trades based upon. So pretty much when UWT is moving up, you better believe that crude oil is moving up as well, right? Crude oil is moving up. UWT is moving up. Crude oil is moving down. UWT is moving down. So we saw a 3% move today in crude oil and UWT is a 3x leverage ETF, meaning that it moves three times as quick as the underlying asset. So in UWT's case, we were up around 9%. I think we closed that around up 8%. Yeah, up 8%, you know, up $1.05. And since we did see crude oil bounce on that, you know, 50 SMA over the past couple of days, it was holding that very nicely right on this 180 chart. If we can take a look back here and zoom in on it a bit, you know, it held it very nicely, bounced here for a higher low from the previous and then we pushed up today, you know, and honestly over the past two days, we've been pushing up very nicely. We pushed up for that higher high and, you know, back to when, to where I traded it in particular, well, we can see right here, guys, literally at the start of the day, you know, this was 9.30 a.m. Eastern Standard Time on the 18th, which is today, right? We cupped here, then we ended up shooting up like a rocket. We've seen crude oil make moves like this time in and time again, right? It happens all the time where it moves like a rocket. Literally within, you know, an hour and a half, two hours, it was up from about 52.75 all the way up to around 54.14. And of course, this is when I ended up trading UWT, guys. It worked out very well. You know, I had a limit sell on UWT and my desired profit, you know, profit point, which in this case was 3%, right? I always like taking, you know, at least I try to take a minimum of 2.5 to 3% profit on each trade that I take. And, you know, obviously, you know, the margin was there from what we see, you know, from $1309 to $14, that was 8%. So, you know, I did my job well today. I caught 3% of that 8% and a lot of people do get bumped out when they don't get the entire margin. But the whole idea here, guys, is not to get the entire margin but to get some of the margin and to consistently get some of the margin every single day or whenever you do trade, whether that be twice a week, three times a week, however many times you trade, guys, the idea is to get a piece of it, right? Have a goal. Have a set, you know, goal and checklist of what you do for each trade. Where do you want to buy in? Where do you want to sell? What's your daily goal in terms of profit potential, right? You know, you know, profit margin, right? In my opinion, it's better to look at, you know, percentage value, how much you can grow your account by the percentage value rather than dollar value. Because dollar value doesn't really mean a lot to me because are you trading with a $30K account? Is that why you have a $2,000 profit? Or, you know, if you're trading with a $500 account, are you getting a $100 profit, which is kind of unrealistic, right? So the whole idea is, you know, keep it at 2%, 3%, for example, and you can plug in any amount of money into that and, you know, that's how you scale trading, right? So if you start with $500 and your goal is 2%, instead of having a $100 goal of profit per day, which is really unrealistic, you know, you'll be able to build your account slowly. This is when patience kicks in, right? It's all about being patient because if you're starting off with a small account like $500, $1,000, it's going to take a while for you to build it up. But once you do start to build it up, and let's say you have $20,000 and you have those principles of taking 2%, you have a trading strategy, and all of these things are ingrained in your head, think about it from a dollar perspective in that point, guys, right? You're at $20K, you built your account, you acquired all the skills, right? And at 20% or 2% of $20K, what is that, guys? Let me think real quick. 2% of 20K, 10% would be $2,000. So what's $2,000 divided by 5 off the top of my head? That's $400. You would be getting $400 profit, right? Off of $20,000 if you're getting a 2% return. And if you're ingraining this from your into your head from when having a small account, by the time you grow your account to 25K, guys, and you're pulling in 2% profit, you're going to be making more money than the average American working a 9 to 5 within a couple of months, guys. That's just how it works. So, you know, that is what I did in terms of UWT, guys, my specific entry points off the top of my head. I think it was like 13. I wanted to get in after we broke this pre-market resistance because I knew if we did break that, you know, we did have a chance to run and that's exactly what ended up happening. So, I did get in, I believe, at around 1345 and I set in my limit at 3%, guys. My limit sell, meaning that once it hit that 3% target that I had, which in this case was at around 1385 or 1387, it sold off all of my shares or you can make it sell off a specific amount of shares. In my case, I wanted to sell all of my shares, right? So, that's what I ended up doing today, guys, 3% on the day. And let's talk about some tickers that did very well today or that did pretty poorly. So, UWT is one that did very well. Obviously, I just talked about that one. We actually saw a turnaround today in you guys, a very strong turnaround. So, if you guys ended up trading you guys, drop a comment down below, let me know. But we saw a push today or we saw a dump, rather, and we filled that gap, actually. It's actually, you know, this pattern right here, for those of you guys that don't know, this is a classic cup and a handle, right? You see that handle starting to form after market hours? That is a very clear cup and handle. But pretty much what happened here, guys, in terms of you guys, you know, we sold off opening that margin of profit from around 56 to 48 and we filled the gap. Very simple, right? We filled the gap. So, if you guys ended up trading you guys, please drop a comment down below and, you know, let me know about that. So, in terms of ETFs, I think GUSH did very well today as well. And this is another bull ETF, a 3X leverage ETF trading on XOP. XOP is an ETF, I believe. No, it is an ETF. I'm positive about that. But if we take a look at it, it's a trust S&P oil and gas ETF. So, this one broke a very critical resistance, meaning that GUSH could be a solid play, you know, over the next couple of weeks. If we do end up breaking, you know, resistance points, right? If we break 18, I know these are very far away, but I'm just drawing out, you know, some resistance points here. The next one would probably be from right where we are right now, probably like $15. So, I'm keeping an eye on GUSH this whole entire, you know, next week. And by the way, guys, the markets are closed on Monday, but still expect a video on Sunday and on Monday talking about different stocks. I'm watching because although the market is closed, you know, I'm still going to be making videos. I'm still going to be, you know, analyzing charts and, you know, talking about what stocks I'm looking at because that's what I love to do, guys, making videos and, you know, showing you guys my thought processes. So, you know, that is what I'm looking at in terms of these inverse ETFs. Another play that, you know, another stock that went crazy today to the downside was Tesla, guys. We saw Tesla today. They laid off either today or yesterday. It happened within the last 24 hours from when I'm recording this video. They laid off 7% of their workforce. So, you know, this sent the stock down 13%, guys, down $45. And a lot of people were asking me about Tesla today and let's just do a quick analysis on it right now. So, we sold off $45 and that's putting us closer to that $300 support level, right? We're at that $300 support level right now. And, you know, what I would want to see, and this is what I said in the group chat as well, is I want to see it hold this low of $300, guys, because, you know, this is a strong support from back in. What was that? Early in this month, about two weeks ago, we were at $300 and we ended up running back to $340. So, if we do hold this support, which I want to see it do, you know, I think this could be a good bounce back play back into the $325, maybe $330 range, because I think, you know, this layoff is not as bad as people think it is, right? I think this is going to, you know, roll over over the next couple of weeks. And once that does happen, guys, we'll see some stabilization in Tesla stock and we'll slowly start to climb up in my personal opinion, guys, because, you know, I don't really know a crazy amount about Tesla, right? I know a decent amount about Tesla, but my personal opinion on why they did this was to just cut back on expenses and reinvest more into producing more cars and any other projects that they're doing, right? That's just my personal opinion. And it makes sense, right, guys? It makes sense. You know, Tesla does spend a crap ton of money on everything, guys, on everything throughout the board. You know, they just started turning a profit about, you know, last quarter or two quarters ago. So, you know, they're cutting back even more on expenses. I think they're going to be investing more into the business. Obviously, with that money that they're coming back up, you know, that they're cutting back on, they're going to pay off some debt, whatever they're going to do with that money that they're saving, you know, that's going to be pretty solid, right? Whatever they end up doing with it. And I think it's going to blow over and we're going to end up pushing back up soon. So, in terms of Tesla, I want to see it hold a support, whether it's this one or it goes back to 290. Maybe we hold this support right here, you know, maybe back down to 250, which I think is very, you know, out of reach. I don't think that's going to happen, but let's say that does happen. I would want to see it hold a support wherever it ends up falling to if that makes any sense. So, you know, that's what happened today in terms of the stock market, guys. Very solid green day throughout the board, you know, except for Tesla. And also, let me shout out the two weed stocks that went bananas today. One being Cron, ticker symbol C-R-O-N. This one had yet again a crazy, another crazy run up 10%. We got hit at this $15 resistance point, which is what we should be watching for right now. And, you know, maybe potential shorts are going to start coming in here. Who knows, guys? But we're at a very high point right now in Cron. We're at the high in terms, or we're near the high in terms of the 180 chart. And also, CGC had a decent day today in terms of marijuana stocks, not nearly as great as a day as Cron, but it had a 1.75% day. And it also had a big run earlier on in the day, up to $45. So, you know, that's pretty much it in terms of the weed stocks. Also, Tilleray dropped pretty heavily today down 7%. Excuse me, it's about time this stock is going back down to where it belongs. And that, in my opinion, is around the $20 range. So, you know, from $300 to $20, you know, that is ridiculous. If anyone bought up here and you're still holding, I'm praying for you. I'm praying for you. So, you know, that's it for today's video, guys. If you did enjoy it, feel free to drop a like. Leave a comment, 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. Thanks for all the love. Thanks for all the support. I appreciate it from all you guys. Peace out.