 What's going on everybody it stops here welcome back to another video so in today's video just like always guys We're going to be breaking down the overall markets taking a look at the Dow Jones the S&P 500 and the Nasdaq We're also going to be talking about what I did today on the 21st of August in 2019 in terms of my trades as well as taking a look at some other stocks and ETFs that I'm personally watching and looking to trade here We're heading on to the rest of this month in August and heading into the month of September in 2019 and we're also going to be talking about a couple of struggles that I've been facing recently in terms of my trading I'm going to be real with you guys so stay tuned a couple of minutes into this video I'm going to be getting into that so if you guys enjoy the video here Feel free to go down below hit that like button consider joining our discord group chat and our Facebook group all of those links are Down below in the description box and let's get right into it guys so today the S&P 500 had a very good day It was up twenty three dollars and ninety two cents here at the close up point eight two percent the Dow Jones Industrial average had a very good day up 240 points up point nine three Percent and the tech heavy Nasdaq guys you can see it's currently up about seven dollars and seventy five cents That's not the closing price. Let me quickly pull up my Yahoo finance app So I can tell you guys exactly where we closed we closed up 71 points up point nine percent and the up seven dollars that you guys are seeing right now This is what it's up after hours so after hours You know the futures are trending up Which is a good sign that the markets are still pushing green here So overall guys the markets today did very very well if we break down some Technicals on the S&P. We're really at that same point in time or that same point rather that resistance That we've been talking about here over the past couple of videos You know on the S&P and you guys can clearly see you know We're under that 50 simple moving average resistance and we're at that level at 29 30 which at this point This is the fourth time that we have been showing Resistance at that level you guys can see back on the 8th of August back on the 13th of August a couple of days ago in the beginning Of this week on the 19th of August and today guys we've been struggling at that level We haven't broken out Which if we do break out that would be very very bullish We've honestly just been struggling there and if we go a bit closer to the 20 day one hour You guys can see it even better today We actually had a kind of a similar day to what we had on Monday, right? This was on Monday Yeah, the 19th of August and let me explain to you guys what I mean by that if we go a bit closer You can see on Monday We had a gap up and we had a very strong a struggle a very difficult Time breaking out of 29 30 the gap up and the strong resistance then we gap down yesterday We saw a bit of a sell-off right and we had a very similar scenario to Monday today where we gapped up and yet again We saw that resistance so all in all guys at this point for the S&P to break out and maybe see another run of a couple of days maybe even get back to $3,000 we need to see the break above 29 30 and we need to see that level hold as a Support and ultimately break out of this 50 SMA resistance, which is clearly a resistance here on the 4-hour Chart and at that point, you know, we may be testing 2950 which at this point is going to be the next Resistance that we are seeing here That would be the first one we'd be facing if we break out of that 50 SMA But let's say on the flip side tomorrow we dump we get rejected This could be a very very good opportunity to go short maybe play some of these market ETFs to go up whenever the overall markets are Going up like SPXS which goes up three times what the S&P is going down So let's say the S&P dumped 2% tomorrow. We had a very bad day the SPXS ETF is going to be up 6% right that's kind of how that works and if we go over here, you know to the Nasdaq You know you guys can see we're also trending under of resistance as well It's not the 50 SMA like on the S&P It's actually under the 180 SMA Which is this gold line that you guys are seeing and we're also approaching another resistance Which we were at on the 13th of August at about 77 60 77 65 And we also topped off at that at that point back on the 19th of August Which was this Monday two days ago two days prior to me recording this video So guys all in all if we break out of this 180 SMA we break until let's say, you know 77 90 7800 that's going to be a very bullish move on the Nasdaq and we could potentially play at that point TQQQ which goes up whenever the Nasdaq is going up at a 3x rate, right? These are options that you have and me personally I usually play these all the time when the markets are volatile when we're going up 2% one day down 2% the next day I'm playing these all the time because they offer a lot of potential when the markets are either spiking up or spiking down on any particular day, right? So if we go back to that Nasdaq and if we go back to that 20 day or to the 20 day 1-hour chart You guys can see on a closer basis what I'm seeing here, right? Very clear resistance right here If we do get that breakout on the 184 hour We're going to be breaking out of that 180 SMA resistance We could potentially be headed back up to 7800 7900 maybe all the way up to $8,000 but before we do get all crazy and say we're going all-time highs again We need to see that breakout and to be honest guys I'm not convinced that we are going to go to all-time highs whatsoever, right? Maybe if we get a Fed rate cup in September, you know If we get a 25 basis point 50 basis point rate cut We may be going to all-time highs again on the short-term fix which a rate cut is a short-term fix You know the the market might take this very positively and spike up The markets in general like we did see when we got the hint of a rate cut You know a couple of weeks ago and the markets hit those all-time highs. I know you all remember that So let's go to the Dow Jones industrial average and you can clearly see we're trending under both the 180 and The 50 SMA here on the four-hour chart We're nearing a resistance where we got hit once twice over the past couple of weeks on Monday We got hit at this point as well I guess we're kind of trading above that level But still we're trending under the 180 the 50 and these two previous points on the 8th and from the 8th and the 13th of August so very obvious here guys if we break out that's going to be bullish on the on the Dow Jones Let's say we get rejected here tomorrow. We do something like this That's not going to be too good on a technical basis We may be selling off a bit more there on the Dow and honestly guys There's not much more to say about these technicals, right? We're at a point where we're either going to be at a bullish point or a bearish point based on what the price Action is looking like tomorrow. Maybe the next day or heading into next week, right? You know, this is going to be very very important especially taking a look at the futures on some day that open at 6 p.m Eastern Standard where they're gapping up or gapping down if they're gapping up or gapping down That's going to show us and give us a sign of maybe the markets are going to push green on Monday next week heading into the rest Of the week or maybe the markets are going to gap down and we might see some blood You know in the markets in the next week So very very important guys to keep a look at those futures after hours, you know Sunday especially planning for the upcoming week and after hours every single day to plan for the following day, right? It's very very important That's what I personally do and a lot of people in the StriveSmart community do that as well guys a lot of traders and a lot of investors Use futures to their benefits. So guys, that's pretty much it for the markets right now, right? We saw a gap up in all the indexes today Saw a gap up like we saw on Monday and we had a bit of a struggle at the points on You know at these high levels that we hit today. We didn't really break out We saw a you know a bunch of resistance on these points or at these points for all of the indexes as you guys can clearly see Right here. So I'd love to know down below in the comments section What do you guys think about the markets right now? You know, are we breaking out to all time highs again? Do you think this is all just you know, you know, uh, all um a fake rally here that we are seeing? I would love to know what you guys have to think. Don't be shy drop a comment down below So guys, let's quickly talk about you know, I like you guys saw on the title you know, I've I've kind of been struggling in terms of Executing trades like I used to before my vacation and I love vacations guys Don't get me wrong But I feel like every time that I go on a vacation whether it's a week a couple of days You know, I get off of my groove I get you know shaken out of my rhythm in terms of trading and honestly all of my day to day tasks And for those of you guys that have no idea. I'm sure a lot of you guys know You know, I got back from Greece like a couple days ago I think it was like on the 16th or the 17th, but I was in Greece for three Weeks guys and when I was there, you know, the market was opening at like 5 p.m My internet was terrible, right? I was trying my best to execute trades And to find patterns and to kind of you know, find setups that I personally like, but I was striking out guys I'll be completely honest with you all I was hitting some good trades But I was not getting into my groove the way that I typically do when I'm at home when I'm at my Desk when I'm in my location that I really am used to being at and honestly, I'm getting I'm trying to get adapted to being back I'm trying to adapt to being back in my environment here And honestly, I think it was like Monday. I didn't trade yesterday. I had a little trade Today I was trying to get this spxs move It didn't pan out to the way I wanted to honestly I haven't been seeing too many setups and I'm in my head right now guys I'll be completely honest with you all and I'm sure a lot of you Realize this in your own trading You've been through this in your own trading where you hit winning streaks Then you get into a funk whether you go on vacation Whether you you know hit a couple of losing trades whatever it may be But this is all part of the game, right? This is all part of trading You're not always going to be on a winning streak You're not always going to be hitting your setups the way you like them You're not always going to be executing trades There's going to be things that are throwing you off of your track right throwing you off track And that's just honestly where I am right now a lot of this channel my personal channel that you're watching right now You know, this is me documenting my journey. It's not just me, you know talking about charts, whatever of course I'm here to provide value education for everybody out there But I'm also here to provide my personal experience and my documentation Of my journey in the stock market trading and investing personal finance tips all those different things So you guys can maybe gain some value Maybe you can relate to what I'm personally going through You know in the moment so right now Honestly guys, I'm struggling a bit. I haven't been doing too well And I think this is going to go It's going to pass on you know in a couple of days here once I do get back in my groove But I figured I'd let you guys know I'm all about being transparent and that's just the truth right now guys So anyway now that I got that out of the way I'm sure a lot of you guys can relate and again drop a comment. Let me know what you guys think about that Let's talk about What I ended up doing today and honestly another day that really wasn't that great to be honest with you all right I got into sp xs earlier today because I was thinking the theory behind this trade was the market Was or rather the s and p was at that resistance at 29 30, right? We're seeing a strong resistance in the first couple of hours in the market I believe I did get in right around here. So the first hour in the market You know, I started to see um, you know a bit of a resistance on the s and p we got the gap up We got the dump here. I believe this is where I entered and I was like, okay The market's hit the resistance at 29 30. We're starting to dump here Let me build a position just in case the market does take a hit because remember when the s and p is going down sp xs is going up, right? So I started to build the sp xs position at around like 10 15 10 30 eastern standard time If we go back to the sp xs etf here. It was on this dip. I believe I got in at about 18 dollars and 30 18 dollars and 32 cents we popped up to about 18 39 18 40 and my My ideology behind this trade was to give it a bit of wiggle room, right? I was going to cut losses if the s and p was to break out of 29 30 Which you guys can clearly see it never did right but it never dumped either So I was in a point I was that I was caught in a trade where I was pretty much at break even for the entire day, right? I set an oco order on it and one cancels the other order on it because I was running some errands And honestly, it didn't really do anything, right? I got in again at 18 30 We went down to 18 24 my stop was obviously a bit lower than that because I I gave it some wiggle room I wanted to give it a stop of I think it was at about 1 1.2 percent on this particular trade And we didn't break out either, right? I ended up coming back You know to my computer none of the orders were hit You know none of the the stop order or the limit sell it wasn't hit neither of those and Really guys I ended up just selling out literally for like a point two point three percent profit nothing much, right? I'm grateful for the profit, but again. I'm kind of in my head. I'm like, oh my goodness, you know I'm typically taking you know 0.5 percent at least and today It was another one of those days where I just got a point two again. I'm grateful I'm not complaining whatsoever profit is profit. I'm very happy that I didn't make profit But when you trade and you you know get a 1% gain one day, you know the next day you get a point one It kind of messes with you a little bit. I don't know if I'm being like ungrateful for that or whatever But again, I'm just being completely honest with you guys In terms of that so again, that's really it guys, you know 18 30 nothing really happened I was expecting the markers to dump, you know, maybe do something like we saw yesterday on spxs If you were to buy the dip, you know, you wrote it up. You would have made a one two percent profit That's what I was hoping for but we didn't get that ended up, you know, just selling out really I just break even honestly point two really minimal profit. But again, I'm not complaining, right? I'm not complaining. I'm just documenting my journey here But I did enter into another little position here On atvi at the activation blizzard and I said blizzard blizzard right activation blizzard. Oh my god, I said it again But activation blizzard This is a stock that I've been talking about on and off here on the channel And we actually got a technical break today that I wanted, right? We got the break out of 48 dollars, which has been a resistance over the past couple of months It's very very obvious here, right? We got that break and notice how every time pretty much every time almost we've broken out of 48 dollars We've rode up to at least 50 or even tested that 51 30 level Resistance at the top of this channel. So really short story here guys to really talk or say it quick The whole idea of this trade is to fill the gap up to 51 dollars at least or 51 50 and swing trading guys I'm scaling into my positions very very slowly I'll link a video down below where I go in depth on my swing trading strategy part of my swing trading strategy But the gist of it is I scale in with 10 15 percent to mitigate my risk just in case the position Doesn't go my way and that's exactly what I ended up doing here And the idea is again to scale up sell at 51 dollars 51 50 and cut losses if we break below This support at around 48 50 to about 48 ish dollars. So right now I'm swinging at the took a little day trade today on spxs nothing much And that's pretty much all I ended up doing today in terms of my trading So let's talk about very quickly some stocks and ETFs that I'm personally watching and very quickly Let's talk about some retail stocks guys today retail did ridiculous target was up 20 percent today 20 Absolutely amazing if we go here and take a look at their earnings I'm not sure if I can show you guys here. There is a lot of news for you know target today Okay, EPS, you know, I mean obviously they beat on EPS and revenue That's pretty much all you need to know I mean oh for the for the gist of their earnings and the stock went bananas, right another one that went bananas was lows guys Lows went up 11 percent and another one After hours they reported earnings was Nordstrom. I forget their ticker. I think it's like What is it like jn or yeah, that's what it is jwm This one's currently up 5 percent right now and after hours you guys can see that massive spike So five percent was I think the move that it saw throughout the trading day then after hours It's up. I think like 10 11 percent from what I checked on my yahoo finance app before recording this video So that's a total of about a 17 percent move, right? So retail right now guys I haven't seen these types of moves in retail in a while and this is pretty pretty impressive in some of these stocks So I'm interested in seeing not so much in uh Nordstrom here But in lows and target, you know, I'm interested in seeing especially lows here Are we going to hold this 108 level as a new support and maybe start to trend back up and hit that high at 118? This is something that I'm watching here over these next couple of days target It's already at this all-time high here So this is a bit more tricky because we don't have previous price data to judge a new support Um in terms of targets So I would love to see is this going to cool off or people going to take profits Is it going to continue to run? This is something that I'm personally thinking about with target right now So retail those three I'm definitely watching those tomorrow for the continue The continued momentum potentially for them to continue to break out Um, I'm watching those and yesterday I talked about marijuana stocks in particular cgc and cron Although the charts they're looking very ugly. They are reaching especially cgc here They're reaching levels of old support right old support On cgc if we get a bit further here on the three-year chart you can see it's at about 24 to 25 Dollars and cgc as well as cron the marijuana stocks in general I feel like have been getting crushed right so once I think they break out I think they're going to run especially if we get a good earners report solid news come out In terms of these companies. This is going to be a point in time where You know, they can definitely do well and especially if we break out of these moving average resistances the 50 sma and the 180 sma Um, you know, this could definitely run especially if hype starts to build back up You know in terms of the overall marijuana stocks in general cgc And cron right so these are a couple that i'm being very patient with because the charts again They're not looking too attractive, but once we do get that breakout I think they're going to be a very high reward You know potential swing trade and that's honestly what i'm waiting for You know very patiently i'm waiting for the opportunity to open up, but I figured I'd let you guys know About those so that's honestly really what i'm watching heading into tomorrow I want to see the continuation and retail these marijuana stocks at the Of course these market ETFs if we do end up getting rejected, you know on the s&p Maybe on the nasdaq under these moving averages There could be a lot of opportunity and some of these short ETFs like sqqq and spx s So that's it for today's video guys I'm going to wrap it up here If you did enjoy it Feel free to go down below and hit that like button consider subscribing if you haven't done so already And let me know some of the challenges that you have faced trading Have you gone if you've gotten into trading slumps like i'm personally in right now I would love to know don't feel shy Let me know down below in the comment section and join our discord chat facebook group all of those are linked down below So i'll catch you all in the next video. I appreciate you guys watching so much peace out