 What is going on everybody it stops 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 personally did today on the 9th of July in terms of my trades And as you guys read in the title of today's video We're going to be talking about Apple stock as well My personal opinions on Apple stock my insight on whether or not I think it's a good swing trade Right now and of course We're also going to be talking about some other stocks and ETFs that I'm personally watching and looking to trade here in the month of July in 2019 but before we do actually get into the topics of today's video all I ask from you guys is if you enjoy the Content here on YouTube you find it valuable go down below and hit that like button It really supports me and supports the channel in general and join our discord group chat and our Facebook group down below if you Want to be further connected with our community both of those links are 100% free of charge so with that further ado guys, let me just minimize my screen Let's talk about what is going on right now with the markets with about 25 minutes left in today's Session so you guys can see here the S&P 500 is currently down $1 down about 0.04% not much movement right now whatsoever the Dow Jones industrial average down 71 points right now down 0.27% and the NASDAQ today guys followed by a strong rally in some of these bigger Tech companies it's actually up here It's actually the only index out of the three that we track and follow on this channel that is green It's up about 0.5% right now up about 38 to $40 and again This is something this is due to the tech stocks that we're going to talk about here in a couple of minutes That are doing well some of them right so let's go back to the S&P and if you guys were watching the markets this morning We actually had a gap down in all of the indexes except for the NASDAQ and let me show you guys what I'm talking about The futures this morning were actually a bit red We actually closed yesterday at about 2976 and we gapped down 13 points this morning and we hit a low at 2963 on the S&P 500 the Dow Jones similar thing we closed at 26 800 we gapped down to about 26 6 60 and from there We've just been pretty much uptrending for the rest of the day Recovering from this gap down and if we go back to the S&P you can see a lot of the same right and the NASDAQ It actually didn't see a gap down this morning. It actually popped up pretty aggressively from about 77 40 this morning at about 5 a.m. That's what the future was at Eastern Standard Time and we can clearly see we hit a top at about 7850 today about a move of a hundred points There so let's go back to the S&P 500 the 500 largest publicly traded US companies And let's talk about these technicals that I'm personally seeing so if you've been watching my videos over the past couple of days I've been talking about this level at about 2970 2950 ish 2975 this has been a level where the S&P has gotten hit and Rejected at three times over the past year once here twice here Three times literally two three weeks ago towards the end of June before we broke out of that level of resistance Making it a new support and before we hit that all-time high at 2995 so now that we are seeing a bit of a retracement in the S&P it dropped again down to about 2960 this morning we want to see whether or not it's going to hold this old Resistance level as a new support and if we go a bit closer here guys on the 20-day one hour It seems like we are holding that 2970 level as a new support over the past two trading days Despite the fact that we gap down this morning, which is actually very very good. Notice how on the 21st of June We were at about 2954 we broke out of that level again Like I said, we hit the all-time high and notice how before we hit the all-time high We hit a high or high at 2970 and we've been holding this resistance level very nicely over the past trading days We've literally tested it three separate occasions if we go to the five day five minute We'll be able to see it and in a second I'll remove some of these drawings so I can draw a new wedge pattern that the S&P is currently in but take a look how 2970 we hit it old resistance new support. We held it. That's a very good sign We held it again yesterday and today guys again despite the gap down We broke the support very briefly we popped above it again And now we're looking like we are holding it as a support yet again, but like I just said guys Let me just remove some of these drawings the market is actually in a wedge yet again Take a look so we see this line of support here that I'm drawing This is the support line of the wedge and this is the top Resistance line of the wedge as well the one that I just drew for you guys And if I take a look and remove some of these you'll be able to see it a bit clearer Let me just remove this very quickly there we go So take a look guys the market right now on on the five day five minute It's making higher highs and high or not higher highs rather It's making higher lows and lower highs at the same time putting us in this wedge And the fact that we gap down today again in the morning to about 29 63 We held that level of the trend line that I just drew for a higher low from the previous This is a confirming sign that we're still in the wedge and the fact that we got rejected Under the 180 SMA here, which just happens to be under the resistance of that wedge That's another confirming sign that we're in the wedge still guys So this in my opinion is going to be interesting heading into tomorrow Which way are we going to pop out here for the SMP if we honestly break out of this resistance here? That's going to be a bull flag That's going to be a very bullish move for the SMP. Not only are we breaking the resistance of the wedge We're also breaking that 180 SMA and from there You know there's going to be levels that we need to continue to break before we potentially test all time highs again And maybe go to three thousand dollars and some of those levels are going to be 2980 roughly this level of resistance and this level as well 2995 obviously and if we break that we're going to be at all-time highs again So very interesting the way the the pattern here on the SMP has been acting You know, we just need to pick a direction and let's say we break the support here and let's say we break 2965 this support that we hit this morning on the gap down Let's say we get to the 2950s That's going to be a pretty alarming break of pattern and at that point guys We're going to be breaking the 50 SMA support here on the 20-day one hour Which has been a support over the past couple of weeks and that's going to be pretty alarming Especially guys, you know the critical most critical support, you know other than 2970 other than the 50 SMA here is 2950 guys if we start to break down into those levels again, you know Remember, I just told you on the one year one day, you know 2950 has been a level of resistance over the past couple of months if we break back down into that That's going to be a pretty you know bearish pattern in my personal opinion And if we go to the Dow Jones, it's a lot of the same, right? We're holding those old resistances right now as a new support if we're hopping here to the 20-day one hour We actually briefly broke today the 50 SMA support and we're actually still trending below it Which is a bit alarming here to be quite honest with you guys unlike the SMP That's actually holding old resistances right now as new supports the Dow actually failed doing that to do that Right take a look here, you know old resistances were at about 26 850 which is actually a hundred points below where we are right now So if the Dow were to really continue this uptrend on a technical basis, you know We would want to see it hold this level and you guys can see it failed doing so back on the 5th of July Heading into this week starting off Monday when we gap down and we broke below it But there was hope yesterday right because we were holding that 50 SMA But the fact that we broke that level as well That's not looking too good right now in terms of the Dow Jones on the 20-day one hour And notice how if we go to the 10-day you can see, you know, it's kind of in the similar wedge, right? Let me just remove this drawing very quickly This drawing as well. I noticed a lot of the times guys. I have all these just random You know drawings and trend lines here. So if that does confuse you I do apologize But notice how the Dow is making higher lows at the same time making lower highs And we're actually holding that 50 or rather the 180 SMA here on the 10-day 30-minute chart Which if we were to break that to the bottom that would be a break of the 180 SMA support and The trend line support here that we are holding at a higher low from the previous So that would be an even bigger bearish sign on the Dow Jones, which is what I'm watching and obviously If we were to break the resistance here And if we were to eventually break that 50 SMA resistance here on the 10-day 30 and if we started to you know test back up And to the 26 800s 26 900s, you know That's going to be what we need to see for a potential all-time high here in the Dow Jones So that's pretty much it for the S&P and the Dow Just keep an eye on that wedge pattern a lot of the similarities that we talked about in yesterday's video Pertain to this pattern that we're talking about that I just talked about a couple of seconds ago So just keep an eye on that that's what I'm personally watching for tomorrow if we go to the Nasdaq guys It's a bit different again because we gapped up today. We're up about point five three percent But the Nasdaq it's looking pretty solid on some of the longer-term charts here notice how you know We're holding that 50 SMA. We're starting to trade above it You know, we broke out of the 7800 level of Resistance today, which is very nice ideally I would like to see this hold as a new support right this level that I just drew out for you guys That would be ideal if we pulled back held that they maybe filled the gap back up to let's say 7900 that would be a good move there and from there if we were to break 7900 guys we may be going back to all-time highs, you know If we're going to the 20 day one hour very quickly, you know again unlike the Dow This one is up trending still it's still trending above moving averages We can see the break above again 7800 today that was an old resistance. That's a good sign Hopefully we hold it as a new support again and fill the gap back up So it's very simple here guys what I'm seeing and this is not too hard to Understand compared to the Dow and the S&P charts, which may be a bit more tricky, right? The Nasdaq is just strictly in an uptrend, you know all the moving averages are pointing towards that But the one thing that could happen here is a potential bearish cross You know if that does happen guys and we do break 7800 maybe get back down to the 77s Maybe 76s, you know, we could be selling for you know further down from there But as of now, I'm just judging it based off of what the technicals are showing And if you look very closely at the moving averages the 50 SMA has not yet quite yet Crossed below the 180 so the bearish cross has not happened yet They're just simply laying on top of each other in terms of the moving averages here So that is the analysis of the Nasdaq guys if we take a look at the five-day five minute You know a lot of the same the gap up today actually took us out of that downwards trending channel that we were on You know over that sell-off period that we saw over the past three four days from 7900 down to about 7,740 so if anything this is a very bearish or a bullish rather sign for the Nasdaq since it is showing Upwards momentum right now. So let's talk about the trading update very quickly And if you guys have any questions any comments about the overall market right now drop a comment Let me know what you think what your opinions are I would love to know so like you guys read in the title and you probably already got that hint that I'm in Apple. Yes, I'm in Apple guys Let's talk about my opinions right now for Apple as a swing trade first of all, you know We could talk about the Nasdaq right now, which is a tech heavy index, right? We obviously just covered it and we can see again like I said this bullish pattern that the Nasdaq is on So this actually gave me some confidence the fact that we broke on this five-day five minute this morning This was literally literally at like 9 30 when the market opened. We saw that big run You know, this actually gave me some confidence to hop into some of these Really just Apple but just honestly to just take a look at some of these tech stocks today And the fact that we broke out very aggressively you guys can see if I just show you all my um You know my little watch those here my tech stocks watch list Apple did quite well today It did not insanely well, but it's up about point five four percent today and Amazon did exceptionally well today up $32 up 1.7 percent, you know, we see Facebook today up 1.7 percent We see Google today up point seven five percent So these are you know some of the stocks really the bulk of the stocks that are Pushing up the Nasdaq further than the S&P in the Dow today because again the Nasdaq is a tech heavy index So you guys can see if I go back to Apple we'll talk about that very quickly because I'm sure a lot of you guys want to hear About Apple since it was in the title of today's video So overall guys we've been talking about this channel on Apple between two hundred dollars and two hundred and ten dollars And we briefly actually broke that Couple of days ago might have been yesterday if I just double check very quickly for you guys to make a hundred percent sure here Yeah, it was it was yesterday, right? We gapped down from 205 over the weekend down to about 199 we dipped down to about 197 earlier this morning and from there guys we saw a nice little swing into the market open today We actually opened up at about two hundred dollars And then when we aggressively broke out of that resistance because the two hundred dollar resistance obviously We broke below it making it a resistance again But we broke above it this morning making it another support and we pulled back and we retested 200 and launched off of it and the Nasdaq at that point was doing quite well, you know This gave me incentive to get into Apple maybe a bit prematurely But I did get into Apple at about two hundred dollars and 32 cents and before we do get deeper into my Personal strategy with this swing trade, you know, let's take a look again at that channel. Notice how two hundred dollars This was a resistance back in the beginning of April It was a resistance or rather it was a support back in November And you see all the trend lines that I've drawn out throughout the stock chart here on Apple These all signify support and resistance levels, right and now again. We saw the dip below 200 making it another resistance, but now we're breaking above it making it a support again And the fact that again, we retested that level this morning that gave me Some hope to or rather the the what's it called guys the confirmation to put You know some money in for a swing trade into Apple So the whole entire idea here guys, you know is to scale into Apple, you know slowly as it continues It's uptrend. So we got the pullback from 205 down to about 200 that was a 3% pullback We got the hold at a higher low here You guys can clearly see it on the 20 day one hour. We're trending above the 180 SMA here We got the bounce on the support at 200 which is very very good All signs are pointing here for recovery in Apple's stock and now before I add more money into it again I'm in at $200 and 30 cents before I add more money Ideally, I would want to see a break out of this 50 SMA of resistance here on the 20 day one hour chart That is currently the plan right now and notice how over the past couple of weeks really in the month of June 200 was a strong level of resistance 200 to about $201 roughly where we are right now So a break out of the 50 SMA not only would it break the 50 SMA of resistance obviously, right? It would also break us above this old resistance here and at that point I have no doubts that Apple can run at least in the short term up to $205 where I do plan on selling so that's the goal right now on Apple. I'm liking the way It's closing the market right now. I'm up almost a dollar per share at the time that I am recording this video It's going to close. It seems like here at nine minutes at a good spot. So the pop Tomorrow that would be ideal to add more money and guys. I know I talk about this a lot Honestly, I don't think I've actually talked about it in a while But when I swing trade stocks, I scale into my position. So let's say, you know My Apple position this one I took today. Let's say we open up tomorrow at 197 the fact that I only scaled into the position with 10 20% of my goal position size You know, I can cut losses and lose less money than if I jumped in with the position size of 100% of my goal position Right off the bat, right if that makes any sense And that's kind of how I mitigate my risk and control my capital and control my losses when I swing trade I scale in I use 10 20 percent add another 10 20 percent add another 10 20 percent As the trend continues to confirm itself rather than Hopping in right away with the full amount Because you can lose money on that doing that if you know the trade doesn't go your way Initially, which does happen when you trade guys not every trade not every stock goes your way as you guys saw in yesterday's video I took a loss on Intel right that was a swing trade that I was in it didn't go my way. I scaled into it I took a little loss. I did not lose as much as if I or if I put all my money into it at You know off the from the get-go, right? So that is it on Apple guys. I'm really liking it right now I'm being patient with it and I do see a lot of potential in it here over the next couple of days So rapid fire now. Let's take a look at some other stocks and ETFs guys So Amazon is the next one. We want to talk about here. Remember in yesterday's video. I was talking about 1960 that resistance if we were to break that we would be filling the gap up to the next spot Which is by those all-time highs at about? $2050 and guys what is happening exactly that take a look we broke 1960 we aggressively broke that today you guys can see The stocks up $40 right now and it's continuing to climb into the close of the market And now we're pretty much just trending in between this channel from you know again 1960 up to those all-time highs so ideally right now guys our size a bit overbought I would like to see a cool off here. Maybe a retest at 1960 1970 a hold at that spot And then from there we could end up getting into Amazon for a potential trade, right? So Amazon Looking pretty good today. Lab you ended up doing quite well today I did call this one out yesterday, but to be completely honest with you guys I did not end up trading it, but it is looking good heading into tomorrow's session. We held that 180 SMA We broke above that 50 SMA of resistance now It seems like we're holding it as a new support that is looking very very solid and for those you guys that don't know Lab you trades based upon SPS I bi SPS I bi is an S&P by 500 Rather an S&P biotechnology select industry index whenever this is going up Lab you is going up in price as well So lab you watching that one very closely tomorrow see L right now It finally seems like it's heading into the $58 level and this is what we need to see before we fill the gap up $260, but the one thing that's a bit alarming right now is that we're struggling to get out of that 50 SMA here on the 184 hour chart that is a level we need to break out of Before we can fully full fill the gap up to $60 and UWT guys is an ETF that trades based upon crude oil Whenever crude oil is going up UWT is going up at a 3x rate and if crude oil does fill that gap UWT is going to have a lot of margin of profit there. So Another one here guys natural gas today We got the pullback a couple of days ago or you know on the 5th of July over the past couple of days We saw that cool off seems like we're holding that 180 SMA here as a new support But we are also kind of making a lower high here at the same time So we're in a channel right now that is illustrated by those trend lines that I just drew You know if we break out of this channel very simple guys That's going to be a bull flag for you guys you guys goes up whenever natural gas is going up So I'd be trading that if we were to do that tomorrow But natural gas if we go back to it and then we go to the 20-day one hour You know if we break to the downside here, maybe we start to fill back down to that You know support of the trend line that could be assigned to go long on D gas Which goes up whenever natural gas is selling off So those are just a couple of plays that I'm personally watching tomorrow. Let me know down below in the comments section What are you watching? What stocks did you trade today? Again? What are your thoughts on the market? I would love to know so if you enjoy the video guys go down below hit that like button feel free to subscribe to the channel Hit that notification bell so you're notified every single time that I do make a video Follow me on Instagram join our discord group chat join our Facebook group to strive smart communities all of those are linked down below I'll catch you all in the next video. Thanks again for watching. I appreciate you guys as always peace out