 What is going on everybody is Stas here welcome back to another video so in today's video We're gonna be doing an overall market update taking a look at the Dow Jones the S&P 500 and the Nasdaq We're going to be doing a trading update as well Just like always talking about what I personally did today on the 28th of May in 2019 in terms of my trades any day trades any swing trades We're going to be talking about that in today's video as well as taking a look at some other stocks and ETFs that performed Well today others that performed very poorly and going over my personal opinion my outlook and some Insight on the overall markets right now and my personal opinion on where we could be headed here over the next couple of Weeks but before we do get into the topics of today's video All I ask from you guys is if you do find value in these videos if you do enjoy the content Go down below and hit that like button It really supports me and supports the channel in general and I also have two links down below One being the strive smart discord group chat and the other one being the strive smart Facebook group Both of those are 100% free of charge and if you haven't gotten in there already guys get in there There's a ton of value. I promise you'll be able to interact with a bunch of people in there and get a lot of knowledge And just help from our community in general So let's just hop right into it guys the S&P 500 ended up closing the day on quite the downswing today Down 23 points down point eight four percent at the close of the market just 27 minutes ago From me recording this video the Dow Jones industrial average did a bit worse down 0.93% at the close down 237 points here at the close of the market and and just like the S&P this one was closed or Closed rather on a downswing the Nasdaq here ended up doing Quite well compared to the S&P and the Dow because a lot of the tech stocks We're able to prop up the Nasdaq today and for those of you guys that don't know the Nasdaq is a tech Heavy index and as you guys can see, you know, Netflix closed green the Google closed green Facebook closed green Amazon closed green we saw AMD went absolutely through the roof today These all had an impact on the Nasdaq and in my opinion held it higher and Made it do better than the three or the two rather the S&P and the Dow the two other Indexes we talk about on this channel, but still a red day down point two eight percent down $20 and 75 cents here at the close So let's break down some technicals very quickly on the S&P 500 You guys saw the title of today's video if the S&P breaks $2,800 this can be a very bad Bloody technical break on the S&P 500 and let me explain why and just like I've been talking about Over the past couple of videos guys It seems like the S&P has been holding the $2,800 level very nicely over the past couple of trading weeks and specific over the past 20 days here. We notice how we hit that all-time high at 2954 towards the end of April in 2019 from there. We got quite the sell-off, right? This is roughly when Trump tweeted out the tariffs on China on that Sunday a couple of Sundays ago The markets toppled all the way down to 2800 flat and this is where we first hit that level of support and why is it a level of support? Well, if we're looking at the 184-hour chart notice how in the beginning actually more towards the end of February the beginning of March This level was a resistance and we all know at this point when a stock and ETF and index of future Breaks out of a resistance level that resistance level becomes a new support level right in the $2,800 level again. It was a resistance. We broke out of it. Now it's a support Right. We actually held it as a support towards the end of March heading into the April month of 2019 we retested it again a couple of weeks ago on the 13th of May We hit it right on the dot at about 2800. We popped up. We hit that lower high at about 28 85 ish under the 50s to may here on the 184-hour chart. We got rejected We hit 2800 yet again for a second time in the past couple of weeks Which was let's see on the 20 day one hour that was literally last week on the 23rd of May We hit again 2800 and we popped up and in yesterday's video and on Friday's video We were talking about how the S&P was potentially in the process of making its third lower high And the first one was 2950. That was the high first high the second high at about 2890 Which was a couple of days ago and now that we got the rejection under under the 50s to may again And we're retesting that $2,800 level to me This is the confirmation of the third lower high which is just signifying this descending pattern this Down-trending pattern of the SPX still being intact and quite frankly, it's continuing guys So if we break the $2,800 level we can see we kind of have a green candlestick forming here towards the end of the market On the S&P which could signify a potential sell-off But in my personal opinion, you know, I think we're going to break below it and continue to sell off But once we do get the confirmation because again We haven't gotten the confirmation quite yet because we closed above the The level of support because we closed at 2802 But once we do get the confirmation and once we break into the $2,700 level I think that's just going to be extremely bloody Extremely bad on a technical basis for the SPX and if we're just drawing out some more support and resistance levels You know if we break the 2,800 level which again, I think is very likely whether it's this week next week I think it's going to happen with everything that's going on in the global economy right now the trade war all this Stuff the uncertainty being pumped into the market. I think we're going to sell off more You know if we do end up breaking that level, you know We could be potentially free falling on the S&P 500 down to about 2730 which is the next level of support that I'm personally seeing right here So that could be quite the gap down if we're looking on a percentage basis, you know if we fall from 2,800 down to about 2,730 that's about a 2.3 2.4 percent drop in the S&P 500 Do you guys recall that head and shoulders pattern that I was talking about Over the past couple of weeks here on the channel Well, it finally finally looks like it's forming and for those of you guys that weren't aware of what I was talking about Or don't know what a head and shoulders pattern is to quite frankly Take a look at this the left shoulder is right here on the S&P from the 2720 level up to 2850 and then the pullback to 2783 that formed the left shoulder the pop up to the all-time high and then the aggressive sell-off that Formed the head and as we slowly started to recover and potentially Retest that all-time high we got rejected by the 50 S&A here And we started to push down which started which which started to form the right shoulder And now that we just continue we've been continuously dropping day after day week after week Or rather yeah, just day after day because this is over the past week or two, you know, that's really confirming to me The right shoulder completing on the head and shoulder and if we break again the 28 level hundred level We could be heading down pretty aggressively on the S&P 500 So just judging on the five-day five minute you can see the selling off a bit closer here You know, we're closing You know lower day after day the markets are just dropping dropping dropping on the 10 day 30 minute You can see the same as well and on the 20 day one hour guys The downtrend is pretty evident just based on every single time frame that we're looking at here So judging the Dow Jones industrial average if we're hopping on the 184 hour chart We broke yet again below the 25,500 level of support here We were trading in the range between 25,500 to 26,200 prior to today's trading day But we saw the markets kind of spiked up in the morning and actually this is something I should talk about on The S&P as well, you know the markets in general gapped up aggressively and we started to sell off After that gap up right we popped up 12 points I remember in the SPX and we started to notice how weak these levels were and not only Were we weak here? We were also at a resistance from Friday's session Right where we popped up to today at about 2840 So in my opinion the SPX that triggered a sell-off once we Started to get rejected from there and if we're going back to the Dow again a lot of the same, right? We were right by a resistance level from this past trading session We gapped up aggressively the markets were kind of weak at this point Then we started to sell off and judging on the 184 hour now that we broke 25,500 next spot we could be heading to on in terms of a support is going to be at around $25,200 roughly about a hundred and fifty dollars below from where we are now That is the next level of support and let's say we break that level We could be going down to twenty five thousand dollars flat and as of now guys again We broke out of the twenty six thousand two hundred to twenty five five hundred Range of the trading range that we were in and now we're trading between twenty five thousand and twenty five thousand five hundred again roughly a five hundred point range in the Dow Jones industrial average and just like the S&P guys every single chart time frame that we're looking at here It's showing us the descending pattern of the Dow the moving averages the SMAs the EMA They're acting as resistance levels and everything is just pointing to more selling from what I'm seeing here and judging over the past Couple of days notice the support on the Dow. It's at about twenty five thousand two hundred to about twenty five thousand three hundred dollars We got a bottom there a couple of days ago We got a bottom at that same level again, and we closed right around that same level again So I personally think you know if we break into The twenty four thousand dollar level for the Dow that will trigger a bunch more selling That's a key technical break and that's just going to lead to more red in the Market so if you guys didn't guess it already. I mentioned it in Sunday's video and over the past couple of videos I'm pretty bearish on the markets right now in a short term basis and in terms of like one two three four five months out I'm pretty bearish on the markets right now again due to the trade war That's causing the main amount of uncertainty and investors and traders out there and what does the market not like guys? We talk about this a lot on the channel the market people out there retail investors They do not like uncertainty this scares people out of stocks It scares people away from buying into stocks Which in turn you know drops the prices of the stock market to be quite frank with you all right? So the NASDAQ today like we said it had about a point two percent red day today and you can see the futures are Actually dropping even more here after hours as I am recording this video So that's pretty interesting to see and just like the Dow the S&P This one's in the process of making its third lower high over the past couple of weeks We're testing a key support right now at about 7,300 It seems like here after hours and towards the end of the market on the NASDAQ We're actually breaking that level and let's say we continue to downtrend here tomorrow The next level of support on the on the NASDAQ that I'm personally watching is going to be at around 7200 dollars and there's no denying the fact that moving averages are acting as resistances here We're seeing a bearish cross on the NASDAQ the 50 SMA crossing below the 180 SMA here Everything from what I'm seeing is pointing towards more selling hopping over here to the 30-day 90-minute chart You know, we're noticing more of the same right 50 SMA is acting as a resistance. We're testing that key support here I personally think you know if we break below 7,200 on the NASDAQ That's going to be a trigger for more selling on a technical basis That's not going to be good at all in my eyes from the bullish perspective here If we break 7,200 guys seems like the bears are going to be winning at that point You know in terms of this battle at the market is currently in right now looking at the 20-day, you know It's again. It's just a lot of the same right just down trending lower lows lower highs I don't want to waste too much time on that because again It's pretty evident from this chart that the market is Down trending right now. So what did I end up doing today in terms of my trading guys? I didn't really trade any stocks today was actually an ETF day for me. I traded SQQQ two times actually and I did very well today and for those of you guys that watch my video on Friday I kind of had a frustrating day on Friday regarding Drip and drip is an ETF that I trade not a lot But sometimes I do trade drip and it's an inverse ETF And if you guys want to see more in depth of what happened on Friday go check out Friday's video, but the gist of it is I ended up cutting my losses on drip Literally the second before it ended up popping up 5% So I missed out on a bunch of money and I was frustrated with myself. I'll be honest I'm not going to come here on YouTube and preach to you all saying I never get emotional I never make mistakes because that's BS right. I make mistakes. I get emotional sometimes. I'm a human too I'm not a robot. I don't make the right decisions all the time. I don't control my emotions all the time And I took a loss. I was frustrated I stopped trading for the rest of the day after that and I was focusing on bouncing back this week And I'm really happy that I was able to do so so SQQQQ is an ETF that I actually talked about in Sunday's video Yes, or Monday's video actually because Monday we didn't have the market open due to Memorial Day So I made the top socks. I'm watching video Yesterday and I talked about SQQQQ and for those of you guys that don't know it's a 3x leveraged ETF that trades on the Nasdaq 100 and it's a short ETF Meaning whenever the Nasdaq is selling off this ETF SQQQ is going up in price and it's a 3x leveraged ETFs Let's say for example the Nasdaq sells off 1% SQQQ should be up roughly 3% right that is kind of how it works and if we're looking on this one day one minute so we can talk about The different trades that I made today. I pretty much got in on this big pullback here Not at the bottom at $40 and 37 cents but I actually got in at about $40 and 70 cents on this first go around on SQQQ and why did I do this guys well? I noticed that the markets popped up pretty aggressively and very quickly to be honest in the beginning of the day It was like within the first 20 minutes the markets were up quite a bit And if we're looking at the end queue here, you can see what I'm talking about right literally take a look at this at 9 30 a.m This Index went from what prices this at 73 30 all the way up to about 73 70 So a 40-point pop and the matter of 15 minutes on the end queue and this is where I started to notice the Weakness right we started to sell off. We were making lower lows lower highs It wasn't seeming like we were going to pop up and try to Continue this upwards push and that really gave me incentive to take a position on SQQQ and notice how the Nasdaq popped up again SQQQ went the opposite way opening up the margin of profit and how And as the Nasdaq continue to sell off, this is when I was profiting on SQQQ Q So this first go around I didn't make as much as I did on the second go around here on this run that we saw The second half of the day, but again, I got in at around $40 and 70 cents This trade was literally under 1% Ended up getting out as we filled the gap back up to where we kind of opened the day at which is that around $41 ish right and at that point we filled the gap the trade in my my eyes was successful at that point And I ended up taking about a point seven five point eight profit percent profit on this first go around on SQQQ Q then the markets slowly started to recover they bounced for the next hour hour and a half two hours Which slowly started to send SQQQ Q down, but I didn't keep my eyes off of it, right? I did some other work some other projects I'm working on you know in between this time period, but I was I was looking you know every 10 15 minutes I was just looking back on my think or swim is keeping an eye on what the markets were doing And I noticed the markets were getting weak again, right? We saw The first pop-up again that I just talked about the next the sell-off here when I profited on SQQQ We started to pop back up here And I noticed how after the second sell-off and the next pop-up We were really starting to see a double top forming at around noon Which was around 12 p.m. Eastern Standard Time and this was actually at a lower high from where we got earlier in The morning, and we slowly started to sell off pretty aggressively at this point And we noticed how we were breaking the 7350 level of support at this point And we slowly started to just to just break support after support as the hours were going on And this is when I took another position in SQQQ Q And we can see you know we popped up pretty aggressively so if you were to get in at 4070 at the bottom Let's say you timed it perfectly and you held for the rest of the day You would have made roughly 3% on your money, right? But I did not do that I actually ended up getting in after this pullback at around 2 p.m. Eastern Standard and after we confirmed The continuous push and again at this point the markets were selling off I noticed a bunch of the in general some of these tech stocks that were doing well in the beginning of the day they started to weaken and this also gave me incentive to take another trade in SQQQ Q And I ended up just getting a not a measly. I was about to say measly It's a very good profit of 1.2% here. So from $41 roughly. I believe I got it out like $41 and 8 cents We can see I ended up just riding up this up trend a bit up to about $41.60 and at that point, you know, we were getting a bit over extended We were already just getting breaking out of resistances from the pre-market hours And I just want to play it safe and take my profits there and again during this time period I was noticing how ugly the markets were turning They were taking a turn to the worst and I figured let me hold on to SQQQ here My gut was telling me this is the play to stay in and I stayed in it for about an hour hour and a half And I made some more money on that and that's it guys That's pretty much all I ended up doing today in terms of my trading just two trades on SQQQ about a 2.5% Roughly a 3% Actually, no more close to a 2.5% actually knows like a 2.1 2.9 plus 1.2 that's about like a 2.2 2.3% day for me And that's pretty good the bounce back from Friday's terrible trading session ended up going very well And I'm happy that I was able to bounce back So let me know down below in the comment section what you guys ended up doing today on the 28th of May in terms of your trades What are you watching for the rest of this week? I would love to know So let's talk about some that I'm ETFs and stocks that I'm watching keeping my eyes on for the rest of this week Let's just start off with SQQQQ guys again This is one that goes up when the NASDAQ 100 is going down in price And with what the market's being at critical levels right now all three indexes being at very critical levels right now This is one that could definitely rally over the next couple of days if we do break those critical levels of support that we did Talk about earlier on in this video. So I'm watching SQQQQ very very closely another ETF that does well when the markets are selling off and that does well when there's volatility is TV IX and this trades on pretty much when the SPX is selling off when the VIX the volatility indicator The volatility index is going up when it's when there's a lot of volatility in the market That's when TV IX is doing. Well, hence why it was up 5.63% today up a dollar and twenty seven cents at the close notice how the VIX Was up 10% today up a dollar and sixty five cents. So it's correlated to the VIX It's correlated to the markets going down TV IX is definitely one that could be very good over these next couple of weeks especially if volatility Continues we also saw a pop in AMD today You know, we saw some product releases some products Involving chips. I think it was the rise in on product here for advanced micro devices This stock went up 10% today $2 and 59 cents and a bunch of people in our group We're actually talking about potential put options on AMD because the levels that we are right now at right now Are typically levels where AMD sells off But the thing here is that we have a positive catalyst right now, you know involving these new products And who knows guys this can definitely continue the rally for AMD We may finally be breaking back into the $30 level maybe back into the $31 level if this hype Continues, but let's say we start to see some weakness The RSI is already very overbought here Let's say we start to creep back down to the 28s the mid 28s. This can be a pretty good in my opinion short-position Potential put option play because again this area just judging over the past couple of weeks has been very weak for AMD Notice how we got to 2850 multiple times, you know low 29s You know low 29s again and every single time from those levels we sold off Right the 2830 level 2850 level we sold off and we're there again You know combine that with the very very overbought RSI This one could be coming down again if the hype does not continue But with this one guys I'm just going to be watching it and you know if it does end up selling off I might be playing a short-term put Most likely I'm not even going to be touching it guys because who knows what it's going to do at this point It's kind of in a funky spot, especially with this catalyst But again, I'm just going to be on Watching this one on the sidelines if I see a juicy opportunity if I see a good price put option I might hop in I'll let you guys know so AMD advanced micro devices. We talked about some Tech stocks doing quite well today. We saw Netflix ended up closing up 0.1% but if we go on the one day one minute we notice the big pop earlier today up to 360 this also again Assisted in the run in the NQ this morning and now we're selling off aggressively on Netflix We're trending under the simple moving averages here the 180s in May This one could be dumping very very soon in my personal opinion, especially if the markets take a turn for the worst We saw Facebook today actually went up three dollars and 25 cents But this one guys it's still making lower highs still making lower lows And it's honestly still trending under moving average resistances. So Facebook although it did have a nice day today, you know This one's still in my opinion down trending on a short-term basis over the past couple of weeks And it's still I'm but I'm being cautious still Involving Facebook stock here. So um some other ones L.A.B.U. The L.A.B.D. Combo here L.A.B.U. L.A.B.D. They trade on SPS I B I if the markets do down turn Tomorrow and the S&P biotechnology index, which is this one that you're seeing right here on your screen if this follows and Continues to sell off that fit continues to be Rejected by this 50 simple moving average that we see here L.A.B.D. Which is the ETF the bare ETF that's going up whenever that index SPS I B I is selling off This can be a very very good play. You can see here already up 70 cents today up 3% It's looking like it's setting up for a potential breakout Especially if we break this 50 S&A and especially if we break into the $24 level this can be a very Solid play so some other notable things to talk about in today's video We got some data regarding cigarette sales, and I don't know if any of you guys follow tobacco stocks Cigarette stocks I personally follow those I personally am interested in potentially investing More money into some of these are tobacco stocks here. They're kind of defensive stocks You know heading into a potential recession over the next one to two years We got some news that the cigarette sales dropped quite significantly over the past 30 days And for those of you guys that follow the tobacco stocks, you probably saw you know PM today Philip Morris was down about 4% MO Altria this one was down about 5% they got hit pretty pretty hard today Just figured I'd mention that just in case if you are interested in potentially investing buying You know, of course do your own research do your under diligence in terms of buying and investing Don't just buy anything because I'm personally talking about it here But again, I just figured I'd mentioned that in today's video So, you know honestly guys heading over the for the rest of this week I'm just going to be focusing on what has been working for me, right? What's been working for me? It hasn't been swing trading to be honest with you all I haven't been doing much swing trading It's been day trading market ETFs like I did today and Understanding the technicals of the markets in general the SPX the Dow and the Nasdaq and then picking What side am I going to be going on? Am I going to be trading a short position which I did today with sqqq in In terms of seeing technicals pointing down or am I going to be trading a potential bull ETF like tqqq Which I would play if the technicals in the market were pointing to the upside, right? Which is what I'm going to be watching tomorrow Not I'm not saying just because you guys saw the title of this video saying we're Potentially going to be selling off. I'm not saying we're 100% going to be selling off, right? No one knows what is going to happen Which is why I love these ETFs where you can play both sides of the spectrum if you do your technical analysis, right? If you understand what you're looking at and you pick the side the correct side You can do very well, which is what I'm pretty much focusing on for tomorrow, right? Take a look at these market ETFs. It's watch list that I have right here These are just a couple that I'm watching so, you know sqqq qqq tqqq e TV IX UVX why these are all on my watch list So I'm going to end off the video here today guys if you enjoyed it Feel free to go down below and hit that like button again It really supports me and I support I support and really appreciate all of you guys out there that watch this these Videos support the channel support me interacting the discord on the Facebook It really means a lot to me guys and if you're new to the channel and you haven't yet subscribed go down below Hit that red button subscribe hit that bell icon so you're notified every single time that I do make a video I'll catch you all in the next video again I appreciate every single one of you guys. Thanks for watching peace out