 What is going on everybody is Stas here welcome back to another video So in this 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 quick trading update. What am I currently trading? What did I trade today on the 2nd of May in 2019 and we're also going to get into a couple of other stocks and ETFs That I'm keeping my eyes on for the rest of this week tomorrow and for the rest of this month heading into the middle of the month here in May of 2019 so before we do get into the topics of today's video for everybody out there that finds value in these videos you enjoy the Content that I'm producing here on YouTube. 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, there's two links down below in the description box that you should check out 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 we're building a community in there that I guarantee You guys will find value in that community if you're not already in there So with that further ado guys, let's just do the rundown of the overall market here starting off with the SPX also known as the S&P 500 the 500 largest publicly traded US companies we can see we ended up closing the day down six dollars and twenty one cents down about point to 1% but that doesn't show the entire picture of how scary the S&P was actually trading today if we can go to the one day one minute We can see the sell-off that we saw Yesterday towards the end of the market after the Fed meeting that continued today We saw a big sell-off down to about 2,900 right? We ended up gapping down from the close yesterday about 17 points from that 2,917 close and it was getting pretty ugly guys. That's literally about a 54 point drop in the S&P and The span of a day right we can see from the top 54 points all the way down to the 2,900 level but the fact that we closed on an upswing here We're breaking out of that downwards resistance. You know the smas the 50 and the 180 acting as resistances We're breaking out of those points. That's a good sign that we could be heading up tomorrow That's the first step we want to see in terms of heading up So going over here to the Nasdaq actually let's go to the Dow because there's an order I don't know why guys I do the Dow second I'm sure you guys already know that if you've been watching the video So I kind of want to stick to the order the Dow Jones down a hundred and twenty-two points down Point four six percent here. We broke through that support at twenty-six thousand four hundred dollars ended up having a pretty decent Red day, but just like the S&P this one was getting very ugly, right? We gapped down to twenty-six one eighty We ended up closing the day on a little upswing here pretty good sign on the close there So the Nasdaq ended up popping up to seventy-eight hundred today, right? This was what time was this right at the open of the market? And then we tanked all the way down over a hundred points down to about 7682 and we closed on a nice little upswing here We can see let's see what time did this close at 4 p.m. Eastern Standard roughly where this was priced Roughly about nine points below from where we are so at the close The Nasdaq was probably down about a dollar or two because mind you this is the future you're seeing here So it's still running right now hence why it's saying it is green, right? But we did end up closing on a slight red day today From my memory in terms of the Nasdaq so let's just run through some technicals very quickly here on the SPX guys We'll do that to the Dow the Nasdaq and then we'll get on with the rest of the videos So the SMP we've been talking about this critical support level being yes You guessed it the 50 simple moving average on this 184 hour chart We were talking about that earlier in the group chat today. We talked about that yesterday, right? I talked about that yesterday and yesterday's video saying how if we were to sell off a bit more aggressively today as well as We did yesterday which ended up happening, right? The 50 SMA is the spot that I was looking for to make sure the SMP was going to hold that level for the Continuation of the uptrend so we really haven't gotten the confirmation that the uptrend is continuing quite yet But we are one step there by the fact or for the fact rather that we are seeing a green candlestick Forming on top of here and again like we saw in the beginning of the video We're seeing the nice reversal on the intraday chart Which is why it's super important in my eyes to look at a bunch of different charts, right? This makes you understand the short-term price action, right? We see again the bullish cross here the reversal on a short-term basis And then we get to look at a longer-term picture and we get to see okay. It is maintaining this moving average That's a good sign, but now we need to see the pop up even further And if we go to the 20-day one hour we can see some very strong consolidation and the beginning of a bounce on a 180 on the 180 SMA here on the 20-day one-hour chart So this is very good for the SPX in terms of really Rebounding from where we are right now and let's say we end up breaking these critical levels Let's say we break the 180 SMA to the downside tomorrow on this 20-day one-hour chart Let's say we end up gapping down tomorrow and we break 2,900 and let's say on this intraday chart and let's say you know on the 180 We end up breaking this 50 simple moving average and we start to head down That's going to be a pretty significant break of pattern and from there in my eyes That's going to lead to some more selling maybe some panic selling in the SMP Kind of like what we saw this morning and yesterday after that Fed meeting the Federal Reserve Meeting so the Dow Jones today guys again. We broke under that 24 26 rather 400 support level now. We're trading above the 26 200 level So we're pretty much just trading in that 200 point You know level here Let me just quickly clear this drawing set because it is a bit sloppy when I do my analysis throughout the day It does get a bit sloppy So if we can just see very quickly what I'm looking at here, right? Just take a look at these levels, right? You see I just drew out the 26 200 level there, right this level right here old resistance right from back in the beginning of November Old resistance from back towards the end of February We broke out of that level making a new support and that's where we're holding above today on The upswing that we saw towards the end of the market This is a very good sign that the Dow has found a new support level and quite frankly guys We're still at a higher low from the previous if I can just draw on the trend line really quickly here You know everything is looking pretty decent that the uptrend is still intact We just need to see a break now out of the 26 400 resistance level for the Dow to make that a new Support again and from there if the markets are healthy, right? If the markets push green in general, right? If the SPX is doing well large caps are doing well over the next couple days weeks You know this will lead us in my opinion to an all-time high in the Dow if we're able to break out of this level and eventually break out of 26 700 ish 26 800 Which is the level that we next need to break out of right before hitting Potentially hitting those all-time highs. So that's what I'm watching right now in terms of the Dow If we're going over here to the NASDAQ guys, we talked about this downwards trending channel that we were trading in We pretty much broke the support of that earlier today with that sell-off now It's looking like we're fighting back to break this the resistance of it now We want to get back into that channel and it seems like we are holding a support at a previous resistance level at about 7700 now from back in the middle of April that was a resistance level there We're holding it as a support This is a good sign after market hours guys with the market up swing that we saw towards the end of the day But the NASDAQ wants to push up from here. So that's pretty much it guys not much to talk about You know, there was some panic selling earlier on today The S&P took a dive the NASDAQ the Dow But they do seem like they are recovering here over the latter half of the day and towards the end of the day And so the aftermarket right from what we're seeing right now in the NASDAQ and like I've been talking about right an Index of stock and ETF of future like we've been seeing here Especially the index is when they go up and exorbitant exorbitant. Hopefully that's a word I think that's a word when they go up a huge amount in terms of a couple of weeks months There's going to be time periods where we're going to see a retracement a pullback that is healthy for any market Right. This is simply in my eyes right now what I'm seeing in terms of the technicals a healthy pullback, right? We've seen pullbacks in the past right just take a look at my cursor here. We pulled back We pulled back here. We pulled back This could just be another pullback before we end up pushing up even higher Maybe to the $8,000 level for the NASDAQ if we're going to the SPX, right? We're seeing all these pullbacks in the past. They're very very healthy So don't let this just spook you right now Don't let this spook you if we do if we start to see aggressive selling off Maybe towards the 180 SMA then I would be a bit spooked but now the way I'm seeing it guys There's no reason to be a spooked quite yet, but let's say tomorrow. We end up selling off 2% I'd be a bit scared but until that happens guys I feel cool right now with what the markets are looking like on a technical Basis so let's talk about very quickly what I ended up doing today in terms of my trading for all you that watch my video Yesterday you saw that I called out Advanced micro devices also known as ticker symbol AMD and a bunch of you actually were able to Capitalize on that trade and if you were drop a comment down below Let me know how you did and congrats to doing well on that one because it pretty much played out perfectly to how I Ended up breaking it down Yesterday right and for those you guys that recall in yesterday's video and honestly over the past couple of videos I've been wanting AMD to go down to that 26 level Roughly the 26 level and for it to test that 180 simple moving average support that has been a support Over the past couple of months notice how we bounced here We bounced here bounced here bounced here and we got the pullback yesterday, right? They've reported earnings a couple of days ago. We can see they reported earnings here They pulled back aggressively the day after and today it bounced like clockwork right off of that guys It was so quick of a move But luckily I was watching AMD again because I talked about it in yesterday's video It was one of the top stocks that I was watching and I wanted to see if it was going to break out or break Above and just pop off that level and it actually popped Very aggressively harder and quicker than I thought that it was but luckily again I had my alert set I was watching it and I was able to get in right so AMD again It played out perfectly if we just go back to the 180 real quick and look at this take a look guys It hit that 180 SMA after market or pre market hours today We can see the green candlestick was forming it was trending up if we go to the one day one minute We can see this a bit better. We were trending up a bit Which opened my eyes initially especially since we were cracking into the 27 level and then we took off like a launchpad here guys This is absolutely crazy. You don't see this often But this one was about a five six percent move in the matter of how long was that about an hour and ten minutes And from there we started to sell off, but at that point I was already out guys I got my one point five percent that I'm happy with and to be honest I got him a bit after this launch. I didn't catch it at the perfect perfect time, right? Rarely does it ever happen sometimes it does but rarely does it happen where I get it at the right time at the perfect time Rather, but I ended up just getting in Actually after we ended up breaking this top This trend line that we're seeing here and if I zoom out a bit to show you guys where that is from That is actually a support from over the past couple of weeks and now when we were under it It was a resistance, right? So I actually wanted to see a break out of that resistance in my eyes That was step two, you know into getting the trade step or into getting into the trade rather step one Was getting or seeing rather the bounce on the 180 SMA that was step one step two for me to take the trade Was again to get out of this resistance We ended up getting out of the resistance and if we go to the one-day one minute ended up getting in here and again I took about 1.5% it was a very quick trade guys ended up getting out roughly at around 27 70 27 75 And that was it on the day in terms of my day trade. So again in the group chat I was talking about how and in yesterday's video. I was talking about, you know, the markets have been Kind of scary not insanely scary, right? Again, the correction is very healthy But during these time periods, I like to be a bit cautious in terms of my swings, right? So I didn't end up opening any new swing positions today I'm simply still holding on to Facebook stock and I'm holding on to Procter and Gamble and Procter and Gamble actually unlike Facebook today Procter and Gamble ended up doing pretty well, right? We saw the sell-off yesterday today We popped back up point six percent Just like I expected based off the pattern that we're seeing and if you guys didn't watch yesterday's video You didn't see the breakdown of this pattern this common pattern that Procter and Gamble has been on Let me break it down for you right now, right? So we sold off after earnings We all know that at by now, right and the pattern that we've been on based on what I'm seeing here Is we have one nice green day and then the next day is a red day a pullback day, right? So we have a good day followed by a pullback followed by another good day, right? Take a look at this good day pullback, right? Good day followed by a pullback Good day followed by a pullback and today guys This is classified in my eyes as a good day and the pattern is continuing So based off what I'm seeing here. I got a question in the group chat I don't think I was able to get back to it, but I think someone asked me Do you think Procter and Gamble is going to go up tomorrow? Personally, I think it is right based on this pattern and based what we've seen off what we've seen right again Good day followed by a pullback day and this was a good day But it wasn't as big of a green day as we've seen in the past which tells me you know There might be some more in the tank here, right? We could see another push-up before we do see another sell-off So yes, I do think it's going to go up based off of my research based off of my due diligence But don't just take that and buy the stock for yourself, right? You have to understand to your own research to your own due diligence your own technical breakdowns before trading any stock Don't don't just trade it because I'm trading it Don't just buy because I'm buying don't sell when I'm selling you have to understand how to do all these different things and When the key is when to do all these different things on your own guys. So Procter and Gamble has to break down. I'm in it I like it. I'm swinging it. I'm still holding it Facebook this one again I'm in it at about 193 right still holding on to the shares have not yet to add more because we're just simply Having troubles now breaking out of 195. We're in this 190 to 195 level, right? We've been trading in between these levels for a couple of days now So honestly, I want to get out of 195. That's what I'm looking for. We almost got well this day We did actually we got to 197. That was the day that it squeezed up very quick But we sold off very aggressively right? I want to see a day when we where we break 195 196 and we hold that level right we've broken it right over the past couple of days But we haven't held that level I want to see the break and the hold and then the slow push up maybe to the 196 is 197 and for the entire day to be a strong hold above that level before I add more money into it And that's just a breakdown right Facebook. That's what I'm looking at. That's what I'm doing I still view this one as a hold. I personally think if the markets do end up bouncing back We slowly start to head to a $3,000 S&P 500 I think the Facebook stock is going to follow and we're going to see some gains from there But of course since Facebook is a larger cap company, right if the S&P gets squashed more than likely, right? Not a hundred percent guarantee, but more than likely Facebook is going to follow in the red if the S&P Does end up aggressively selling off and we're going to see that over the next couple of days weeks here as we get deeper into the Market, of course things are going to unfold, right? So let me know down below what you guys ended up doing today in terms of trading. That's all I did Honestly, I traded AMD, right? I was tempted to get into TV IX, but I honestly missed the boat Didn't really want to force anything there, but for all you TV IX traders out there I did see it did well and I am watching it heading into tomorrow if we do end up pulling back aggressively You know just keeping it on the plan on the watch list, right? Just in case we do end up selling off, right? So that's what I did in terms of my trading again drop a comment down below Let me know what you think and let's go through some stocks rapid fire that I'm personally watching We don't have to go over Facebook and Procter and Gamble Those are obviously ones that I'm watching but I pretty much just did the breakdown there AMD I'm watching this one as well, right? We're trading in this channel now a break out of $28 that resistance It's going to be a breakout pattern on AMD watching that one very closely But I feel like I've broken it down so many times. I don't really need to break it down again So a couple of other different ones are Bank of America ticker symbol BAC This is one that I'm finding a bit attractive right now, right? We popped up to $31 12 cents, right? We briefly broke out of this resistance from a couple months back towards the beginning of October But we failed to hold above that level we pulled back And now we're actually holding a support from a previous resistance from the middle of March in 2019 So this is looking pretty good, right guys Not only are we holding this support But we're also holding a higher low from the previous as well as the 50 SMA support level And we're trending up here towards the close of the market and after market hours So this is definitely one that I'm watching tomorrow ticker symbol BAC again Bank of America and if we see how much margin it has to offer not a crazy amount, right? If we were to get in, you know right now This would be a 2% trade up to previous resistances around $31 But let's say we end up getting a pullback at market open and a retest on that 50 SMA And we're and we're able to get in at a better price There's going to be an even bigger margin there. So BAC. I'm watching it you guys If you want to watch it watch it, you know, this could definitely be a pretty solid play for tomorrow So another one that actually I believe just reported earnings right now when it tanked a little bit after earnings is Activision Blizzard and this is one that let me just make sure that they did just report earnings Yes, so they did report earnings today and I didn't dive into their earnings quite yet, right? I didn't dive into their earnings quite yet But if I see that their earnings were positive, right? This could be a pretty decent entry point on at V especially if tomorrow We end up holding this 50 simple moving average support here that we're seeing right if we do end up holding this level And we slowly start to pop up on a solid positive earnings report again I didn't do my research the earnings report could be complete crap. Let's just actually just see let's just see right here If they have any news on it Okay, where is the actual numbers? EPS 0.78 Sales 1.82 billion, but what we're analysts expecting that's what I want to see if they beat analysts expectations Nonetheless, I'm going to do my research on this afterwards But what we saw the tank here guys this opened up a pretty solid margin of profit and again If we maintain this level tomorrow, and let's say we slowly start to pop up and to the 47s Maybe mid 47 level that's going to be in my eyes the continuation of the uptrend This can be a pretty good entry on at V ticker symbol ATVI again If the earnings report was complete crap, right that could end up signing the stock lower tomorrow, right? But if it was good this pullback is opening up an Opportunity in my eyes, and I'm going to do research and I advise you to do research on all these different stocks They're earnings before you do or take a position rather so at the BAC those are two that I'm watching there was one more on my head. What was that one? Oh my gosh guys I'm forgetting right now at the top of my head. It was at the BAC. Oh My gosh guys, I'm sorry I'm forgetting the third one that I wanted to talk about But nonetheless, there are a bunch of other ones here that we can talk about because there's no shortage of stocks in the stock market Tesla TSLA we actually saw some Funding money being raised. We got some news today that Tesla is raising money I believe it was 2 million 2 bit was it billion. I'm sure we can see there's no way it was 2 million because that's nothing for Tesla Let's see down here Yeah, nonetheless, they are raising some a good amount of money right Tesla to offer 2.7 there It is Tesla sees aggregate proceeds of about 2.3 billion. Is that it Tesla looks to rate? That's what it is 2.3 billion dollars. We saw that ended up shooting up the stock very nicely this morning Right 230 to 250 literally guys So could this be a catalyst for Tesla over these next couple of days right for it to maybe push up higher I think it definitely could be a catalyst right because a lot of people out there have been suggesting Suggesting Tesla to raise money. So this can be a very good catalyst. Let's see if it pushes up Let's see if the bulls take over now on Tesla very very excited to see that So I'm going to wrap off the video or wrap up the video here rather if you enjoyed this video Feel free to go down below hit that like button drop a comment Let me know what you guys think about Tesla AMD Facebook Proctor What do you guys think about my picks for tomorrow Bank of America at V? I would love to know what you guys think about those You're new to the channel and you enjoyed the content consider subscribing would mean the world to me for you to be a part of the Community I really appreciate again every single one of you out there taking your time to watch these