 What is going on everybody is Stas here welcome back to another video so in today's video just like always guys 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 going to be doing a brief trading update as well What stocks am I currently in as well as what stocks am I watching what ETFs am I watching? For the rest of this week and for the rest of this month heading into the middle of the month in May of 2019 so before we do get into the content for today's video all I ask from you guys is if you enjoy the content here if you Enjoy the videos you enjoy the breakdowns of the stocks the news all that different stuff that this channel is comprised of Feel free to go down below and hit that like button It really supports me and supports the channel in general and I'm forever grateful for everybody out there sticking with the Content watching the videos liking subscribing. It really does mean a lot to me guys and without further ado Let's talk about what ended up happening here in today's market and it got ugly Needless to say towards the end of the market here the S&P 500 ended up closing the day at about 2923 down 22 points down about 75 point 75 Percent this is probably one of the bigger red days that we've seen Over the past two three weeks, I would say right and you can see you know check take a look at those check out Those candlesticks guys pretty big in terms of the past couple of weeks I guess the last big one that we had was on the 21st of March Which at this point was about three four five weeks ago more like five weeks ago, right? So pretty decent red day today in terms of the S&P 500 going over here to the Dow Jones down about point six one percent at the close down a hundred and sixty two points a hundred sixty two point seven seven and This one you can see based on the past couple of weeks, right? This was one of the bigger red days that we had right we popped down or we were rather at nearly 26700 we popped down all the way to 26 400 so quite a big swing there in terms of the Dow Jones industrial average hopping over here to The NASDAQ guys we've been talking about this little channel that we've been trading in right we can see we got topped off at the Resistance we were pushing down now We're down about 11 points right now But mind you at the time that I'm recording this video 6 30 p.m. Eastern Standard time This is the future right so if we go to the one day one minute We can see exactly where it ended up closing 4 p.m. So roughly at 4 p.m. We can say the NASDAQ was about 30 points higher from where we are right now But it was read guys the entire market today was read not too great of a day So let's just hop to the SPX very quickly Let's do some breakdowns and honestly, I'm not surprised that we are pulling back today, right? We talked about we've been talking about over the past couple of videos how the markets are poised for a pull back sooner or Later right could this be the start of a big pullback of this just be a mini pullback right before we continue the uptrend Only time will tell but what the technicals are telling me right now guys is ever since we pushed to that To that all-time high right ever since we pushed up You know past 2940 we've been seeing some resistance or some struggling for the SPX to maintain these levels Right we pushed to the all-time high Today we had another all-time high actually, but the first one was here, right? We popped up We pulled back down a bit. We tried fighting to hold it here Right we ended up popping up today, and then we Stratically sold off right so needless to say there is a resistance roughly at about 2940 to 2955 that general area is a resistance right now for the S&P 500 right and we can clearly see that on a longer-term charts. We're pulling back pretty aggressively here So we've talked about the support level to watch out on the SPX Which is the 50 simple moving average here this green line that you're seeing make sure or rather keep an eye Are we going to pull back to that tomorrow? Are we going to maintain that level and continue the uptrend or are we going to break that level and potentially sell off even Further which would be great for an ETF that we trade which is TV I X guys and we're going to talk about that one here in a couple of minutes about which ones I'm personally watching that is definitely one here that we are I'm going to be watching because the markets are selling off So we saw the Fed meeting today was at 2 p.m. Eastern Standard, right? We can see You know the markets didn't really perceive that meeting great, right? We can see at 2 p.m. Eastern Standard We were here right and we pop all the way down and typically every single you know Fed meeting, right? This one this one was a 30-point drop here every single Fed meeting over the past couple of meetings We investors traders people in the community we want to know are the is the Fed going to increase the interest rate, right? It are they going to drop the interest rate and we saw it today They're keeping the interest rate the same, right? They're expecting it to it's a hover around 2.25 to 2.5 per cent And I have some notes here I actually have an article pulled up the central bank held its benchmark rate and a target between 2.25 like I just said to 2.5 on a 12 month basis overall inflation and Inflation for items other than food and energy have declined and are running below 2 percent so the FOMC didn't make a technical adjustment interest paid on Excess reserves that banks keep at the Fed will now be set at 2.35 percent or 0.05 percentage points lower than before so in terms of the Fed You know in terms of the Fed rate, right? It's good that they are keeping the interest rate the same in my personal opinion, right? If they were to hike it, you know the market could have acted very very negatively to that So that's just the key takeaways guys take it for what you want do your own research I don't want to spend too much time on that in today's video because I value you got your guys's time a lot So let's just go over the Dow Jones very briefly guys. This is a lot of clutter here I can understand but the key things that you want to keep an eye on we've been talking about this over the past couple of Videos are the levels the levels between twenty six four hundred and twenty six eight hundred guys that four hundred point buffer That's the horizontal channel We're trading in right now in terms of the Dow and very simple We pulled back today right the entire market pulled back and if we look on the 30-day 90-minute chart and again This is super sloppy guys the trend lines might be confusing you all but what you need to know is We're out of support right now at a previous resistance at about twenty six four hundred If we break that level tomorrow, that's going to be the break of the support right and the next support We could be headed to in terms of the Dow Jones is going to be twenty six thousand two hundred dollars But let's say we maintain twenty six four hundred tomorrow. We slowly start to recover from there We could be pushing up back to the twenty six seven hundred to twenty six eight hundred at resistance level Which is the next spot You know the Dow could end up going to so the NASDAQ we kind of briefly already covered it right a little bit earlier on in this video We talked about how we pulled back today very obvious, but we're still maintaining this overall Channels support here right we've been trading in this channel over the past couple of days really since the 25th of April We hit the all-time high at seventy eight seventy nine We bounced here boom boom boom kind of been zig-zagging, you know in between this level So tomorrow are we going to maintain this level potentially pop up and then break the resistance? Which would be a breakout bullish pattern to the upside or you know Are we going to break the support here and potentially test the 180s and may again, which has been a support right? We notice a bounce here from back in the beginning of March down a couple hundred points away from where we are right now Right these are some scenarios that could happen But what I'm watching and what I advise you to just keep an eye on in terms of technicals is this little Horizontal channel here if we break out that's going to be in my eyes a very very bullish pattern, right? We could be hitting 8,000 from that point in time Um, you know, we just have to see how the market ends up reacting tomorrow because we saw again a very steep decline in the S&P 500 the overall markets So let's see I'm approaching with caution But we have to see is this going to carry on into tomorrow this selling that is what I'm waiting for so in terms of You know my trading update today. We saw Apple this morning Actually ended up selling off to two hundred and ten dollars per share. We saw they popped up I believe they did pop up the two twelve roughly two thirteen Aftermarket hours yesterday when they reported their earnings. We popped up the two twelve roughly pre-market hours We sold off and we hit that same level of support roughly where we bounced or rather Maintained yesterday, which is roughly two hundred and ten dollars and when I noticed this and when I saw Apple aggressively popping up from that level and we can see it on the one day one minute You know this we pulled back opened up the margin of profit This was simply a gap fill play on my part right in my personal opinion, right? We pushed down from two twelve to ten opening up not a crazy amount of margin, but around one point two percent We found the bottom here. We formed this little v-shape Right, we popped up the EMA was aggressively shooting up here and we started to trend back up And once we broke out of this resistance here actually the one from about 9 21 a.m 90 minutes before the market opened Eastern Standard Time once we broke out of there. That was the resistance I wanted to see a break above before Getting into Apple on my day trade. So I pretty much just got in guys roughly at about I believe 211 50 6211 50 that general area we pulled back I obviously didn't sell there we ended up popping up a bit and I ended up selling my shares honestly once we broke a little bit above two 1272 roughly the 213 area that was where I ended up selling. I believe it was 213 25 So from about 211 30 ish 40 ish roughly where it was where I got in up to about 213 Roughly, it was a 1 to 2% 1.2% Trade on Apple here guys roughly more like a 1% trade on Apple so not the craziest of gains, but with my trading early especially the day trading I like to take around a 1 to 2% and I'm cool with 1% guys And I want to just sell out play it safe because Apple from yesterday's open or close or yeah yesterday's open Was at about $200. We were already up 13 points. The Fed meeting was coming up I wanted to just play it safe, right? And it seems like I made the right decision guys because if I held Apple all day Let's say I would have ended up being in the red right now due to it tanking nearly four or five dollars Once the Fed meeting kind of was wrapping up and towards the end of the day here You can see it tanked right so Apple I ended up day trading it pretty small gain But nonetheless it was green and green is green and green is great guys So what else did I do? That's pretty much it in terms of my day trading, right? I'm still in Procter and Gamble, right? I'm still in Facebook. We saw a pretty big move not a big move today But a pretty solid move on Facebook stock we started to pop into the 196 area. It was showing some promising push here a promising push I was hoping to get out of this 197 level from yesterday, but Facebook stock ended up getting crushed After the Fed meeting again the entire market pretty much did and we ended up closing at about 192 50 but the thing here that I'm seeing which I like is we're holding that support at around 192 to 193 which has seemed to be a solid support over the past couple of days That's a good sign heading into the after hours heading into tomorrow, right? So hopefully tomorrow we do end up popping back up into the 193 194 level but in terms of my position guys I'm simply holding roughly at the 193 level right now and I want to add more up into the upward mid upward You know 195 level that's the plan right now in terms of Facebook Procter and Gamble guys This is one that I'm still holding we kind of saw a decent retracement here But what I want to tell you guys on Procter and Gamble is to see and take a look at this pattern on the 10-day 30 minute we notice a very very um Not familiar but a very repetitive pattern that Procter and Gamble has been on over these past couple of days Hear me out on this one guys. Look we sold off on earnings This is when I ended up building a position right ended up buying more on this day I believe but that doesn't matter the pattern that I'm showing you guys is take a look we pop up aggressively one day Make a higher high we pull back for a hot for a higher low from the previous and then the next day We pop up for a higher high right so it seems like one day We're popping up making that higher high followed by the next day being the retracement day But we're still holding a higher low on the retracement day which means the uptrend is still intact Right, that's the key thing here You see we popped up higher high pulled back higher low from the previous We saw the big pop-up day right after the little red day and now we're seeing the red day which was today So hopefully if the pattern holds tomorrow will be that next pop-up day to get us into the 107 level That would be absolutely ideal right now for Procter and Gamble Will it do that we have to see what it's looking like pre market hours, right? What is the stock looking like is if it's trending up into the 105 50s? You know 105 70s right pre market hours heading into the beginning of the day. That's a good sign That Procter and Gamble is going to be continuing the trend and let me just remove this drawing very quickly Because it wasn't perfect, right? It's not showing you the exact pattern to perfection But if we redraw it here, right? This is a better look at it, right? This is kind of what we're seeing higher low higher high higher low higher high Hopefully this is the higher low from the previous right and we pop out So i'm simply holding Procter and Gamble right now I consider this one of the safer swing trades that i'm currently in with a price target at around 108 109 That is where I would ideally like to sell this stock So that's it in terms of my trading update guys again I'm being a bit cautious due to the aggressive sell-off that we saw Excuse me in the market and this is going to lead me to what i'm watching tomorrow guys So take a look at this ETF here for the long time viewers You know this I trade this one a lot on red days. Of course, you might know this not for my channel, right? You might know this on your own and that is tvix guys This is one that's going up whenever the markets is spx in particular is selling off, right? We noticed that a very good day today 7.15 percent in the green up one dollar and 41 cents And this one in my opinion is poised to do Very well if the market continues to sell off remember we saw that critical level on the spx being the 50 sma There's still some margin down to that level guys So keep an eye on the futures tomorrow morning if there seems to be a sell-off Which I personally think is very possible if this panic selling It seemed like a bit of panic selling in my opinion towards the end of the market if it continues We can very well gap down to the 50 sma opening up a very nice potential day trade and margin on tvix So just keep an eye on this one I'm definitely going to be having this ETF pulled up on my screen in tomorrow morning's trading session Super important in my personal opinion So tvix is the number one that i'm watching tomorrow and in terms of some other ones guys You know again, I can't reiterate this enough. I'm being cautious But we saw amd actually get into the $26 level Which if you recall from a couple of videos ago I was hoping amd would tank to this level and get to the point where we are right now Which is the 180 simple moving average support, right? This is a level very critical level for advanced micro devices, right? This has been a spot where we've held above Over the past couple of months and let's say we do end up maintaining This support level and slowly start to climb back up maybe into the 26 80s or rather we are there already. Let's say the 26 90s $27 flat This could be a very good opportunity for a swing trade on amd Especially since their earnings were solid, right? This is a pretty good situation in my eyes I just need to see the confirmation to the upside on amd drop a comment down below Let me know what you guys think about this. Are you touching amd tomorrow? Are you completely just keeping an eye on it not looking to put money? I would love to know what you guys are doing. So amd honestly guys amd You know facebook those are the top two that i'm watching and to be to be quite frank I feel like i haven't been talking about a lot of new stocks recently because I'm really just focusing on ones that i've had success with in the past I'm not really looking to just go out there and trade a bunch of different stocks There is one though actually that one of the uh subscribers one of the members in our discord group chat Was talking about which is ticker symbol b e and this is one that's breaking out of this downwards wedge We were talking about this on private chat and it had a pretty good day today up 70 cents up nearly 5.5 5.14 percent to be exact and this could be the beginning of a breakout pattern on b e So i'm definitely watching this one tomorrow. We're at a resistance right now at about 1440 So if we break that resistance and old support from back in november of 2018 This could be the breakout that we need to see upwards to 17 dollars right so the initial breakout was The breakout of the resistance of this wedge now we're at the second spot Which again is that resistance at around 1440 let's break out of there if we break out of there This could be a good sign that we're headed back up to 1770 actually the next resistance is not 1770 It's around 1650 right so this could be a nice little margin of profit nice trade on b e I'm keeping an eye on this one tomorrow. No doubt about it. So we saw crude oil today It's kind of been fussing around this 180 sma Support we ended up selling off a bit aggressively here We bounced back up to the mid 63s, which is a good sign that we are retaliating not retaliating I can't believe I just said that bouncing right. We're rebounding. That's what I wanted to say not retaliating. Oh my gosh Rebounding up to 63 50. That's looking really good right now So hopefully we can end up getting out of this 50 sma resistance here for a trade on But if we're looking on the past five days, you know, the uptrend is still intact here, right? Higher highs higher lows all that jazz. We just need to see a truck upwards until the 64 level Then uwt in my eyes is going to be a pretty pretty solid play And i'm keeping those on the watch list guys. So facebook amd betvix Uwt those are my top five as well as google guys google I talked about that in my video earlier today If you guys were able to catch that until google finds a bottom though I'm not looking to trade it because we're seeing here. It's really not finding a bottom quite yet, right? It's still dropping. It's still making lower lows. We need to find a bottom and my personal opinion guys You know, once we do find a bottom, let's say we we head to 1130 that could be the next spot we're headed to based off this chart You know, that could be a very good entry if we confirm it as a bottom If we slowly start to pop back up and we confirm the reversal So ideally here is I would like to find the bottom Consolidation at the bottom for maybe a day or two days three days However, long it takes and then a slow pop up to the upside And if the markets are looking right right at the overall markets are looking healthy at that point I think that could be a pretty good entry on google ticker symbol g So let me know down below in the comment section What you guys thought about this if you have any comments on the fed what you ended up trading today my picks for tomorrow Apple, you know amd I would love to know what you guys think about that drop a comment down below and we can chat Also, if you enjoy the video feel free to drop that like hit that subscribe button If you're new to the channel hit that notification bell as well So you're notified every single time that I do make a video I appreciate every single one of you out there keeping up with the content liking subscribing and means a lot I'll catch you all in the next video. Good luck tomorrow. Have a great rest of your night. Peace out