 What is going on everybody is Stas here welcome back to another video so in this video We're gonna be doing another market update taking a look at the Dow Jones the S&P 500 and the Nasdaq We're gonna be talking about two trades and I made today on the 4th of April in 2019 as well as taking a look at Tesla and whether or not I'm looking to swing traded that I already buy shares We're gonna be talking about that in today's video as well as taking a look at some other stocks and ETFs that I'm personally watching Here in the month of April in 2019 but before we do get into all of these topics guys all I ask from you if you enjoy this video if you find value in Any of the content that I produce on YouTube is feel free to go down below and hit that like button It really supports me and supports the channel in general And if you're new to the channel, I have two links down below one of them being the discord group chat and the other one being the Facebook group both of those are 100% free of charge and I guarantee you guys you'll find value in those platforms if you go down below and join them So without further ado, let's talk about what ended up happening today on the 4th of April in the overall stock market here Starting off with the SPX the S&P 500 index the 500 largest publicly traded US companies we ended up closing the day up 599 nearly six dollars on this index up about point two per cent The Dow Jones actually had a very strong day today up point six four percent up $166.50 at the close and the NASDAQ composite here guys It's down about nineteen dollars and fifty cents right now down about point two six percent But remember this is the future so if we go in here a little bit closer We can see exactly where we ended up closing at about four o'clock and it is roughly around this range So we can say we ended up closing the day read about point two percent in the NASDAQ So in terms of the S&P and the NASDAQ it really wasn't a crazy day, right? Well, you know mostly a consolidation day for these two major Indexes and if we hop over here to get a better understanding of the S&P some supports Resistances and the technicals, you know, we've been talking about how This 2860 old resistance has been acting as a new support If you guys watch my videos from earlier this week literally on Monday and Tuesday I was talking about how since we pushed up to a higher high in the SPX There was a high likelihood that we were going to consolidate at some point this week, right? And if we hop over here to the five-day five-minute chart we can see guys pretty much We've been consolidating really since the second of April which was on Tuesday, right? We consolidated we popped up here, but really we pushed back down and Consolidated a bit at that same support we pushed up today And then we ended up testing that same level again and pretty much consolidated around the same area of about 2870 to 2880 and really my theory for Monday and Tuesday has been playing out And really why I talked about that earlier this week and why I thought about hey We might consolidate this week is because every single time just take a look at these technicals here guys every single time That we pushed to a higher high in the S&P 500 over the past couple of months really we've peaked Consolidated for a little bit and we either a popped up to a new level to a new high or B We ended up pulling back a bit and seeing it to three four percent Retracement in the index right and this is nothing different. We popped up. We broke to a higher high We were maintaining that level here at 2860 as a new support and we've been seeing some Consolidation so for tomorrow and for next week what I'm really gonna be watching for is are we going to continue this? Consolidation are we going to potentially start to pull back and see that two three four percent? Retracement or are we going to level up to the next higher high in terms of the S&P? 500 so that is what I'm watching here guys very simple again Nothing much to touch on because the technicals have really been the same for this entire week So I don't want to spend too much time on you know saying this because it's like beating a dead horse, right? It's like me repeating myself, you know over and over again, but the Dow Jones here We actually broke a very critical resistance that we've been talking about and that level is that $26,200 so take a night take a look at this guys, right? 26,200 resistance back in the beginning of November 2018 We topped off at the same spot towards the end of February in 2019 about a month and a month and some change ago and the past couple of days and told today We've been really seeing resistance and consolidating right under that resistance the same spot at 26,200 but today we had that very strong green day Finally pushing us out of that level and it's looking like we're testing an old support now from back in September of 2018 which is the next resistance We need to break out of before we slowly start to potentially test, you know These high levels of nearly $27,000 which just happens to be an all-time high in the Dow Jones So for tomorrow guys, you know very simple, right? Are we gonna pull back and maybe maintain? 26,200 as a new support. Are we gonna break this level? We're really in a tight little horizontal gap right here If I zoom in really it's from 26,200 up to 26,400 so that's a very tight window and Really tomorrow we're gonna see what direction we want to head in whether or not we break out of this resistance We pull back down to test the support These are things that I'm gonna be watching for to determine the direction of the Dow Jones industrial average so Hopping back over here to the NASDAQ composite guys We are looking like we're testing and maintaining the new support at around 7,500 although we did see this pullback and yesterday I think it was yesterday or the day before I was talking about how I want to see the NASDAQ really pull back and test the Support which was a new or older resistance at 7,500 and that's what it's looking like is happening Right and the thing that I'm actually noticing here on the NASDAQ guys is since we popped up to about 7,600 a couple of days ago the RSI was extremely overbought right it was at about 80 and for those of you guys that don't know if an RSI is at 80 that means it's extremely Extremely overbought but since we've pulled back a hundred points or a fifty sixty points whatever it is You know the RSI has pulled back to a healthy range really to about 57 to 60 Which is a little bit overbought still but it's more healthy It's a healthier range than the 80 range and this is telling me you know based off an RSI standpoint that okay, maybe since this we pulled back here We're maintaining the support the RSI pulled back again We're seeing a green bar here towards the close of the market on the 184 hour chart Or really not towards the close of the market today really over. Let's say the past day You know this could end up pushing back up tomorrow, so just keep an eye on that and of course We're getting close to those all-time highs guys. I'll say the next resistance is at about 7,600 7,630 ish we can see a double top here back in the month of September on the NASDAQ And if I drag that out a bit we can see that just happens to be roughly where we got topped off a couple of days ago So it seems like we are in this little horizontal pattern here on the NASDAQ So just keep an eye on those levels and another thing to mention here in terms of the RSI guys is the S&P You know and the Dow Jones They are both pretty overbought on they on their RSI level So does that mean that a pullback is 100% going to come? No, it doesn't mean that right because we've talked about how the RSI Don't just use one in what's it called indicator to make your decisions, right? You have to use a couple in Unison but if we're just taking a look at the RSI, hey, maybe we might see a pullback here just off the RSI But again, you know you got to use a couple in unison with some fundamental analysis and take a look at the whole picture Right, you don't want to just base your decision on one thing You know that the RSI, you know the MACD even though the MACD is not here. You guys understand what I'm saying, right? So let's just talk about What I ended up doing today in terms of my trading so the first ETF I traded was a gold based ETF and we saw JNug Which is actually what I traded went absolutely off the walls today And we saw a reversal that I was honestly not expecting right and for those of you guys at don't know JNug is actually a bull ETF that trades based upon the gold Futures whenever gold's going up JNug is going up as well, right? And we saw JNug over the past couple of days really we've been consolidating around this $9 support level and this morning We took a pretty big dip down to about 870 We gapped down from about 920 at the close yesterday down all the way to about 870 So that's a 50 cent move which in an under $10 stock or an ETF guys That's a pretty sizable move right 50 cents in a in a $9 in $8 ETF That's a sizable move. So we gapped down pretty heavily and Honestly at this point in time guys, I wasn't watching JNug at all if you guys watched my video this morning I was actually talking about JDST because gold was actually at about 1288 something like that But then gold went on this insane pushback, which helped JNug go absolutely crazy and actually set on alert Thankful, thankfully I set an alert on JNug at about nine dollars I wanted to be alerted if we were to get a reversal to the upside on JNug And that's actually how I caught this aggressive move that we saw right And if we just hop over here to gold very quickly so we can see the big move that we did see You know take a look at this guys It's a typical, you know big sell-off and a typical Gap fill here on gold. We sold off from 1296 down to about 1284 at the open of the market That's about a 12-point drop and from there We made this V pattern and we really recovered all of those gains This is kind of like an inverse head and shoulders type of pattern here You see the left head right we pretty much made that full move all the way back up to pre market Really not pre market like the resistance levels that we saw from last night And this is where you know, I ended up taking my position again. I had a little alert on JNug I wasn't watching this one closely But once I saw this bullish move on gold the 50 SMA crossing the 180 SMA This was pretty big in my eyes as a reversal and I ended up putting in some money in JNug Roughly at about 11 a.m. Eastern Standard Time and if we're hopping back over here to JNug We can see at about 11 o'clock. This is when we ended up pulling back We tested that nine level of support the $9 level of support and we bounced right off of that and again from You know the the GC chart That's when we saw the bullish cross on gold and if we're looking back here again the support on JNug was at about $9 So this was all you know a couple of different things that I was seeing in unison that were pointing to a bullish move in Gold I ended up putting some money roughly at about I believe like $9 and 10 cents 905 or something like that and if we hop back over here we can see You know roughly at about 9 10 I think it was 9 11 ended up putting in some money in JNug and actually ended up holding this one for an hour and a half Two hours. This was a bit of a longer trade due to the uptrend really just holding itself Right. We were pulling back higher lows higher highs You know we were maintaining the 50 simple moving average gold was pushing up very nicely So I felt comfortable from 9 10 up to 9 30 to hold JNug and we can see if we just zoom it up guys I made about a 2.1 to 2.1 percent profit Simply for holding JNug for about an hour and a half to two hours So that was actually the only day trade that I ended up taking today And it kind of sucks because honestly guys if I were to hold the entire day, you know I typically don't try and beat myself up for these types of things because I'm more of a conservative trader I like locking in profits. I'm all about being consistent But let's just say apathetically I ended up holding the entire day here, which you know It's not really it's kind of against what I do in terms of day trading I like being in and out in like an hour or two hours three hours sometimes even less You know 10 20 30 minutes, but if I were to hold I would have made about 7% on my money Which is very very solid for one day You know for a one-day day trade, right? So that's what I ended up doing today in terms of JNug so now let's talk about the other trade which I'm sure you guys probably kind of you know Guess this from the title of the video. Yes I ended up buying a couple of shares here of Tesla today And for those of you guys that want to know more in depth of what happened to Tesla Go check out the morning video But the gist the gist of it guys very brief gist here in this video Tesla ended up falling today due to the you know the deliveries Really being short of analysts expectations, right? I forget exactly the number off the top of my head But I think there were there were expecting about 54 55,000 model threes only 50,000 model threes got delivered so that was about a seven eight percent You know less than expected from the analysts and we saw the stock price fall like a really like a what's it called like? Like a falling knife, right? It fell like crazy this morning We ended up closing the day yesterday or we were at about 296 at some point yesterday And we fell all the way to 260 guys So that's nearly a 40-point drop overnight in Tesla stock and to be honest guys I've been telling myself over these past couple of days next pullback that Tesla has I'm looking to start building a swing Position right and I'm actually already long invested in Tesla in terms of having a long position for those of you guys that watch my video like a month ago or something I ended up buying some Tesla shares at about off the top of my head right now I don't really remember. I think it was like two seventy two two seventy three something like that and That's in my long-term portfolio, but in my swing portfolio. I was telling myself I want to start building a position for maybe a two three four month swing trade in Tesla next time it drops and hey We got that today guys. We got that today and what really opened my eyes here on a technical basis Excuse me is the fact that we ended up holding this downwards, you know channel support here We can see we ended up bouncing here once in the past twice You know three times, you know a couple weeks ago. We ended up holding once twice We dipped a bit below it to 255 but ended up recovering nicely and pushing back up and the fact that we ended up bouncing here at 260 today literally right at that support channel that gave me incentive and honestly the Not not motivation, but yeah the incentive honestly to buy some shares of Tesla here for a swing trade I'm going in this trade with the mentality of if the stock goes down Maybe we retest 250. I'm okay with buying more at that price Averaging down because let me say or let me explain why right typically when I'm doing swing trades Especially swing trades where I'm looking out on a two three month basis, you know, I'm looking to scale into my positions Right. I'm not looking to hop in. Let's say my goal position is ten thousand dollars, right? I'm not looking to hop in with all ten thousand dollars right off the bat I'm looking to scale in with let's say $2,000 right and then add more if the stock goes up and maybe if the stock goes down Evaluate the situation if we're holding long-term supports, even if the stock goes down Let's say we break a support, but we're maintaining the next support, you know I'll evaluate the situation and I'll be like, okay Maybe this is a good time to add some more money and then I'll add another two thousand dollars, right? This is something that I call Scaling into your positions. It's nothing new. I'm not Einstein. I didn't invent this This is something that's been around in the trading community a lot of people that do long-term investing You've heard average cost, you know dollar cost averaging. It's the same thing, right? But this is more of a shorter term Perspective here because this is a shorter term swing trade and the whole idea of averaging in guys is let's say You put in your initial 20% of your goal a hundred percent position and the stock tanks 10% And you want to cut your losses, okay? You're not going to lose as much money as you would have lost if you went in all the way with that full 100% position right off the bat, right? So I honestly ended up getting in to Tesla This morning on this initial little pullback at about 265 bought a couple of shares here, and I'm very comfortable Holding these shares with a mental stop loss here over the next couple of weeks and again if we end up breaking supports I'm going to evaluate the situation and maybe buy some more shares and of course I'll keep you all Updated so all in all guys. I'm not too worried about what happened with Tesla today We've been getting some signs and some news that 2019 was not going to be the best year for the company But still on a longer term basis here in terms of these charts in terms of these technicals guys We can see Tesla's highs were two or three seventy six rather and down here at two sixty six on a technical basis here You know, this is a pretty good buying opportunity in my personal opinion And I'm taking advantage of it and I'm fully willing to take this risk So let me know down below in the comment section. What do you guys think about this? I would love to know what your opinions are. Did you buy some Tesla today? Are you swaying the stock? Let me know down below in the comment section. So Very briefly today guys before I do end off this video. Let's just go through some stocks rapid fire So Tesla, I'm not gonna talk about it again. This is one that I'm looking to trade I kind of already broke it down. This is on my list of the top three or four That I'm currently looking to trade so crude oil I talk about this one a lot crude oil right now does seem like it wants to pull back, right? We're seeing kind of a bearish move here on the five-day five minute We're noticing the top at 63 lower high at about 62 and we honestly double topped here Which for those of you all that don't know a double top could you know signify or signal? Rather that we're heading down in a stock ETF index or a future just like a double bottom Could signify or signal that we're going up, right? So take a look at this We're seeing a bearish cross here in terms of about the 50 crossing below the 180 SMA So keep an eye tomorrow on crude oil if we do end up pulling down to $61.50 maybe 61 30 which is the previous resistance now a new support That's going to be an interesting spot to Re-evaluate the situation are we going to hold that level maybe pop back up from there slowly start to uptrend back from there That could be a good entry point for you Wt which goes up whenever crude oil is going up So I'm keeping an eye on this one tomorrow very very closely and another one that I feel like a lot of people Have not been talking about and I haven't been talking about honestly has been Boeing stock guys take a look at this reversal on Boeing stock I think I talked about it a couple of videos ago maybe in the top stocks I'm trading an April video. I talked about this or maybe a video before that or the week before that But nonetheless Boeing we all know what happened, right? The 737 crash that really crashed the stock itself down to about 366 and from there We've been seeing some nice reversal, you know reversal patterns in terms of Boeing and now we're being tested by This 180 simple moving average resistance here as well as the 395 Resistance here from back in the beginning of October in 2018 So this is a level where if we break out of this level, you know, we could be pushing back up to mid not mid 450s maybe 415 so just keep an eye on this next level that we could potentially Be getting to and if we break out of these two resistance levels and we confirm it that offers about a 5% margin in terms of Boeing ticker symbol BA stock So that's one super super interesting in my eyes right now Facebook is one again that we're kind of seeing some resistance at the level of about 177 178 see I'm watching a mar to see Are we gonna end up testing back higher here? Maybe 177 178 and eventually are we gonna break 180 to then? potentially go back up to 186 so from 180 up to 186 that's about a four or five percent margin on Facebook I think this is very possible with the beautiful reversal pattern that we are seeing here on the 180-day four-hour chart in terms of Apple been getting a bunch of questions on Apple today It seems like Apple's been really struggling actually not struggling, but just maintaining the 195 level as a new support So Apple, you know, we could easily see Apple back up to 200 dollars in a couple of days If we do end up breaking up into the 196 197 level so keep an eye on this one This could be a quote-unquote safer swing trade, but really do your research guys, you know, no stock is safe out there But if I were to say a stock is you know a swing trade is quote-unquote safer than another I would say Apple is safer than let's say Tesla, right? And I'm sure a lot of you guys out there would probably agree with that So those are just a couple of stocks and ETFs that I'm watching heading into tomorrow I hope you guys did enjoy this video if you did feel free to drop a like leave a comment and subscribe to the channel If you have any questions for me feel free to follow me on Instagram and shoot me a DM And of course on discord you can message me as well. I'll get back to you as soon as I can I appreciate all of you guys out there for watching. I'll catch you all in the next video We'll chat in the discord and on and on Instagram. Peace out guys