 What is going on everybody is Stas here welcome back to another video so in today's video We're going to be doing an overall market update taking a look at the Dow Jones the S&P 500 and the Nasdaq We're also going to be doing a trading update talking about what I personally did today on the 11th of July in 2019 as well as taking a look at some other stocks and ETFs that I personally see potential in and that I want to trade This month in the middle of July of 2019 so if you enjoy this video guys feel free to go down below and hit that like button and if you haven't yet joined our StriveSmart discord group chat or our StriveSmart Facebook group You're missing out both of those are linked down below in the description box and are 100% free of charge So with that further ado, let's just hop right into it Let's talk about what the markets did today starting off here with the S&P 500 you guys can see we were 9 cents short of closing above $3,000 we closed that 2,999 dollars and 91 cents up $6 and 84 cents at the close up 0.23 percent to close off the day today the Dow Jones did very good guys the Dow Jones did very very well today up 227 points and 88 cents up 0.85% and this is mostly because ticker symbol UNH today did very well United Health Group Inc. This one was up almost $14 at the close up 5.53% and this had a pretty good weight on the Dow and allowed the Dow to do better than the three major Markets that we talk about on this channel the Nasdaq is currently down $10 guys down 0.13% it closed under 79-20 and if you are all watching or if you guys out there were watching Tech stocks today, especially Amazon Amazon took a pretty big dump in the middle of the day today and you guys can see how that affected The Nasdaq, you know Apple took a dump as well Facebook, you know Netflix these were all Positions or stocks rather that were closing in the red that close in the red today And you guys can see how it affected the Nasdaq here take a look at 12 p.m It was coasting at about 7956 12 p.m Eastern Standard and we took a massive massive dump and we'll talk about some of these tech stocks here in a Couple of minutes, so stay tuned if you do want to hear and and see my opinion and how I break those tech stocks Down so that's just a brief you know Synopsis of what ended up happening today in the markets Let's break down some technicals very quickly on the SMP then the Dow then the Nasdaq and honestly guys You know other than the Dow the Nasdaq and the SMP the technicals They look a bit similar to what I talked about in yesterday's video But of course we do have a lot of new viewers to the channel every single day And I would be doing a disservice to those new viewers out there if I don't break this down for them Right, so let's just do the breakdown very very quickly here the SMP 500 at this point We all know we've been hitting all-time highs here over the past couple of weeks pretty much every single week We've been hitting a new all-time high or at least that's how it feels right guys And the main resistance that we were able to break out of was at about 2950 to about 2975 this was a spot where we topped off at In 2018 in the month of September back in the month of April back in the middle of June Right, we got hit there and sold off and now that we broke out of that level of resistance We're looking to hold that level as a new support and we actually did Confirm that level as a new support really just a couple of days ago when we broke out of this wedge This wedge that I have drawn out here for you guys I was talking about how if we were to break out of that wedge Not only would it solidify the pop on top of that old resistance as a new support It would also confirm the bounce on top of the 50s may support here on the 20-day one-hour chart And it would also confirm the breakout above the wedge which would be a bullish move So those would be three You know back a couple of days ago if that were to happen which it obviously did now that we are in the future You know those would have been three bullish moves that we were looking for and all three of them You know pretty much ended up playing out right so now we see something else happening that I think I mentioned this in yesterday's video If I didn't I was definitely thinking about this yesterday heading into today as well that we notice how we saw a double top here on the S&P 500 literally right where we closed above that today at 2995 notice how we this was a top back on the 3rd of July and also on the 5th of July we kind of had difficulty breaking out of those levels now that we actually popped into 3000 we broke out of that level of resistance and it seems like we're closing above it as a new support right now That is looking pretty pretty good on a technical basis here So tomorrow guys for this uptrend to continue and let me just solidify this right now The uptrend is still intact guys. You know the 50s may still being um Ridden as a support level right now if we notice on other chart frames Time frames, you know the S&P's making higher highs higher lows the uptrend is still intact and for it to continue very Very basic guys, you know We need to see a hold above $3,000 at this point because if we hold this level of resistance as a new support Which again we are doing right now towards the close of the market not only are we going to be holding that level We're also going to be holding the 50s may which has been a support and is a critical level for the S&P to hold For the uptrend to be continuing here So very important to hold 3000 and honestly to start popping up here for a higher high But at this point guys You know the markets have been rallying for a very long time You know the markets do suspect a rate cut the rate cut in my opinion is heavily priced in so You know i'm having thoughts right now, you know like if we get this rate cut I'm sure the markets like I mentioned in yesterday's video I'm sure the markets might rally a bit more in this month of july maybe for the next two weeks Who knows we might rally another one two percent, you know, let's see how it plays out But my thinking now is if we get this rate cut, which a lot of people are Saying we're going to get you know Jerome Powell pretty much hinted to it again yesterday of 25 basins points 25 basis points if we get this, you know, is the market going to You know dump is it going to sell the news after we get the rate cut since it's so Built up at this point since the optimism since the price of the rate cut is so heavily built in You know, this is something that i'm thinking about, you know Maybe the markets take a dump after this rate cut announcement comes officially So I would love to know what you guys actually have to think about that This is something that I've been thinking about Throughout the day and honestly throughout the past couple of weeks And I would love again to know what you have to think about that shoot me a comment down below So going over here to the dow jones the dow jones actually hit an all-time high today at 27,000 and 88 dollars and 45 Since we broke out of that resistance at about 26 850 about 26 900 It seems like we are holding it and bounced on top of it as a new support Which is very very attractive right now for the continuation of the uptrend very similar to the smp 500 here guys We broke out of a wedge a couple of days ago, which was a very bullish move at the same time We broke out of that wedge. We also popped above the 50 sma We held that level as a support which is also very very good here on the dow And then we ultimately broke above that level that I just said at 26 850 dollars We broke out of it held it as a support and popped up for an all-time high Everything is looking good right now You know for the continuation of the uptrend on the dow jones and notice how the dow again the uptrend is intact But it's overbought. I don't know what is this rate cut going to do to the dow Are people going to sell the news when it comes out, you know that we're officially getting the rate cut I don't know guys. That's something that I'm being a bit Cautious about and that I'm suspicious about at the same time So that those are the technicals really for the dow at this point. We may see a bit of a pullback We may see a bit of a retest on that 50 sma on that old resistance as a new support These are things that could potentially happen here Especially since we had a pretty strong day today of almost 1% In the green for the dow jones. So going over here to the nasdaq guys the nasdaq on the 20 day one hour I know there's a bunch of trend lines here. It may be a bit confusing But focus on this 50 simple moving average guys this green line that you do see streaking across My screen right now that level has been a support Has been a support right notice that and today we pulled back from almost 8 000 dollars Which was an all-time high today at about 79 63 we pulled back and it seems like we're holding that level as a support So as of now the weakness in the nasdaq i'm simply considering it A pullback due to this moving average being maintained as a support very very critical point here guys And if we're going back out to let's say the 90 minute You guys can see, you know, we popped out of this resistance at 7900 roughly We're obviously trending above it still and now it seems like we want to hold that level as a support Right. This was also a level of resistance back on the 4th of july literally one week ago So these are levels that i'm watching for a potential bounce on the nasdaq and for it to continue upwards But let's say, you know, we start to break these levels. Let's say we start to get back up to 7800 7700 that's going to be pretty Alarming for a potential sell-off at that point for the nasdaq so very simple guys not much to talk about here The technicals are all pointing to The uptrend still being intact at least for the three major indexes the nasdaq the dow And the s&p that we talk about that I talk about here on the channel on a day to day basis So let me know down below. What do you guys think about this stuff? What do you guys think about the markets? What stocks are you personally watching? Let me know down below in the comment section and now let's talk about what I did today in terms of my trading so today Um, you know, I was watching a bunch of inverse ETFs And there's one that actually opened up a pretty nice gap here towards the end of the market Which we'll talk about here in a couple of minutes, but I actually didn't capitalize on any of the inverse ETFs today guys I actually capitalized on 3m which 3m it did very well today surprisingly I didn't think because of the pattern that that it that it's been on I didn't think that it was going to recover the way that it did But we can see here and you can clearly see it now guys if I zoom in a bit more You know, there's a strong support on 3m at about 165 to about 166 Dollars notice how that was a support back in may on the may 20th Roughly may 20th to the end of may it was a support level before we broke it And it was also a support back in the middle of June on June 15th when we popped to that higher high and we went on that little run for a couple of weeks So this level guys it's been bounced above It's been held above on two separate occasions over the past I would say Month and a half at this point and notice how we sold off aggressively here from their resistance at about 175 Down to that support that I just talked about at 165 and that opened up a six percent margin And honestly guys, I wasn't even paying attention to 3m up until this morning when I was like wait a second 3m is holding that support. I didn't even realize this Because it was taking a beating. I kind of just took it off my radar because Of the beating it was taking over the past three days and I was like, ah, whatever 3m It's getting squashed again, but I actually looked at it and I was like, oh my goodness This could be a good potential trade not only for today But for the next couple of days if it does end up filling the gap back up to 175 But let's talk about very quickly what I personally did today on 3m And it actually deals with the 20 day one hour chart here Notice how again, we talked about the sell-off opened up about five six percent on 3m. We dipped into 164 I ended up popping up retesting that 165 level as a support yesterday And this morning this is actually when I started taking more attention into 3m We actually retested 165 166 again and we launched above it very very aggressively And we kind of built this staircase pattern of a higher low Higher low and then today we popped again and we started pushing to a higher high So this actually gave me and put 3m on my radar at this point I was like, okay. I'm watching it, but there is a resistance coming up Which is this 50 sma here and at that point this morning, right? This was more towards the middle of the day You know, I was telling myself 3m is reversing It's doing quite well, but we're we're also getting a bit overbought here and we're getting to that 50 sma Resistance, I don't want to get caught in a trap here I don't want to get caught and get rejected by that 50 sma and pretty much lose money So the whole idea here was to see if it was going to break out of that 50 sma And if it were that was going to be the bull flag that bullish move that I wanted to see Before getting my money working in 3m And if we take a look on the one day one minute, you guys can kind of see when we were hitting that The 50 sma support on or resistance rather on the 20 day one hour It was roughly this time period between 12 and 130 you guys can see eastern standard time by the way and you guys can see You know, there was a brief double top forming here and we started to sell off Notice how this time period if we go back to the 20 day one hour that same time period That's where we were struggling to get above that 50 But then once we popped the 50 sma on the 20 day one hour here And if we go back to that what time frame was I just on the one day one minute, you know Once we broke out, you know, we pulled back on the one day one minute And we were holding that 180 sma support which was a support from a couple of days ago Really for the past two three days as you guys can see on this intraday chart So that gave me even further validation to get into 3m And I pretty much just got in on this dip right here to 167 58 We started to pop up on top of that 180 sma. We were breaking out at this point At about two to 30 on the 20 day one hour chart We were breaking out of that 50 sma and I ended up just taking a little position here It might have been a bit earlier. It was a bit early. I'll be honest with you guys But I got in at about 167 80 167 75 ish roughly we popped up to about 168 30 pulled back We popped up again. We struggled to get out of that old resistance. I was like crap This might be another double top on 3m. Let me just sell out So that's where I ended up selling out right before this big run I literally missed the big run. I sold off right before it, but that's okay guys And that's what I ended up doing today. It wasn't much of a crazy day Honestly, it was a very small trading day. You could see from 167 80 ish up to where I ended up selling out I literally made like 0.3 0.4 percent. It's nothing compared to What I typically make and I'm not mad at myself. I'm not like, you know kicking cans I'm not pissed off anything like that any day that I make money guys I am happy about it but 0.4 0.3 percent You know, that is a bit of a smaller profit compared to what I normally take like yesterday on my apple trade my overnight swing trade I made about 1.3 1.4 percent But that is okay guys being in the green whether it's 0.1 0.5 2 percent is always better than losing money than taking a 5 6 7 percent loss Than taking a 1 2 3 percent loss right and that is how I view it You know, whenever I make a trade even if I'm like, ah, that's nothing right 0.2 percent I always switch my mentality and I'm like stops that is good compared to losing money or You know taking a loss or maybe not even taking a trade at all right because I did see potential in 3m I pulled the trigger and that's what ended up happening, right? So 3m. That's what I ended up doing today Let me know down below in the comment section. What do you guys think about that trade? What did you do today? Did you trade 3m? Are you watching 3m? I would love to know guys. So let me know down below in the comment section So very quickly now. Let's talk about that etf that gap down a bit It might be a good opportunity here over the next couple of days and that etf is You guys guys you guys today we gapped down a pretty big amount We saw a double top over the past two days of trading on the 10th and the 11th of july We pretty much topped that about 20 dollars failed getting above that level. That's a pretty bearish move And then we dumped today as you guys can see ended up closing at 18 Dollars per share. We broke that 50 SMA here, which has been a support That's pretty alarming But the thing that i'm seeing now and the thing that i'm thinking of is hey Maybe we sell off maybe down to 17 dollars maybe down to about 17 20 And at that point we may hold the 180 SMA here on the 20 day one hour And we may hold this old resistance, which is now a new support at around 17 25 This would give you guys the much needed cool off period The much needed breather that it needs since it's been so hot here over the past couple of days So this is what i'm watching honestly guys. Let's say we pull back to here This could be a good entry point and for those of you guys that don't know you guys Trades based upon natural gas natural gas slash ng is a future natural gas futures whenever this is going up in price You guys is going up in price at a 3x rate since it is a 3x leveraged etf you guys is right So natural gas here you guys can see it took a much needed cool off period as well We saw the double top at 248 We saw how that correlated over to you guys and now we're pulling down so a level to see Natural gas hold above potentially is going to be at around $2 and 35 maybe $2 and 36 cents Notice how that's an old resistance That's that's really a new support at this point And that would also put us on top of that 180s to make support So i'm watching those very closely heading into tomorrow guys, you know crude oil has not really been doing anything honestly But one thing that i am liking about it right now is that it is holding $60 $60 and 50 cents that uh old resistance It's holding it as a new support right now Which is really good for us to potentially fill up to that next gap Which is that $63 and 50 cents and honestly guys since crude oil has been so hot recently like extremely hot It's gone from $50 to $60 in the matter of like two three weeks That's 14 15 and the yard size very over but you know I don't know if it's honestly going to fill this gap all the way But as long as it's holding above this level of support You really can't challenge that because this is a key technical spot that it would be holding above and until it breaks that You know you have to um believe that there is some chance right that it does end up filling the gap But let's say we break here guys, which again is is likely to happen as well There's a chance that happens as well, you know if we break that bring the r side down a bit We may be retesting that 50 s ma support Maybe that level at about $58 as well So i'm watching that, you know apple amazon today. Let's talk about some tech stocks very quickly You know apple saw a resistance at about 205. We pulled back holding the 50 s ma right now You know if nasdaq bounces of tech bounces, you know, this could be a bounce back play tomorrow as long as we're holding that 50 S ma and above $200, you know amazon today am z n It actually did very well It filled up the gap to 2030 Which is a spot that we've been talking about a lot on the channel and I actually talked about this spot back in Um sunday's video in the video the top two stocks or rather the top couple of stocks I'm watching week two of july we talked about this potential fill it filled the gap completely But now we're noticing um a cool-off period in amazon, which is very very um needed at this point It's needed right we hit that spot. It's been on a ridiculous run now I would like to see it pull back and maybe retest Maybe 1975 maybe 1980 maybe these these levels here where They would bring the r side down to a healthy spot and offer a better um entry point For amazon right on the 20 day one hour notice how we're right above the 50 s ma So this could be a spot where hey, we might hold above it right 1990 from 1990 up 2030 That could be a two percent potential swing there our size looking healthy on this time frame So that could definitely be um a good entry point on amazon, you know the five day 15 minute We're holding above the 180 s ma. That's pretty good the five day five minute You guys can see the bearish cross here You know we're dumping on this time frame Which again is very important why you should be looking at multiple time frames because multiple time frames tell different stories Right as you guys saw on the different time frames for um amazon stocks. So guys, that's pretty much it right You know tomorrow i'm watching you guys. That's definitely the number one etf inverse leverage etf that i'm watching You know i'm looking to see maybe tech rebounds, you know apple amazon these both have been hot They both have some margin of profit right now to offer So those would be interesting in my opinion to look into and of course the market etfs as always You know if the nasdaq pops up tomorrow t q q q could be a play You know, let's say the nasdaq sells off s q q q could be a play here, of course velocity um The uh, what's it called the tvix here the velocity Etf that goes up whenever the vix is going up it trades on volatility here Let's say we start to sell off aggressively volatility kicks in tvix can be one that i will definitely be playing Right and of course on the flip side bull etfs spxs Actually, no that's not the bull etf the spxl is the bull etf this goes up whenever the s and p's going up I'm watching this one as well So if you guys enjoyed this video feel free to go down below and hit that like button again It really supports me and supports the channel in general if you want to see more content for me Subscribe to the channel hit that notification bell So you're notified every single time that I do make a video and don't be shy to shoot me a dm on instagram On discord to join our discord to join our facebook group and really just interact with the community I love seeing new faces in there and we are getting new faces every single day So I hope you all again enjoyed the video. I'll catch you all in the next video. Thanks again for watching. Peace out