 What is going on everybody is Stas here welcome back to another video So in this video, we're going to be doing an overall market update looking at the Dow Jones the S&P 500 and the Nasdaq We're going to be talking about one trade that I made today on the 24th of January in 2019 As well as looking at some other stocks some other ETFs and some news that's going on right now in the overall stock market So for those of you all that do enjoy this content that I'm producing on a day-to-day basis Feel free to smash that like button It really does help the channel grow and I do appreciate you guys if you do Smash that like button because that's telling me that I'm doing a good job with this content So I do appreciate all that feedback and if you do have any feedback drop a comment down below I would love to hear from you guys. So let's get right into the topic of today's video So I'm recording this one with around 17 minutes left in the overall market We can see the SPX the S&P 500 the 500 largest US companies is pretty much flat on the day Literally, we're down only 10 cents right now Literally zero right now Pretty much zero percent move on the SPX right the Dow Jones Is up around $53 or down $53 rather down around point two percent and the Nasdaq is up around $35 right now up around 3.54 percent on the day so overall guys if and unless anything crazy happens, you know This is where we're gonna end up closing the day on the overall markets right pretty flat day overall But I did want to get into some closer term time frames here to just dig into some of these patterns with you guys very Quickly so we can get a better idea of you know where we could be headed over the next couple of days So if we're just judging on this longer term chart here the 184 hour chart It's very obvious that we're seeing a resistance under the 180 SMA for the SPX And it's a very similar situation with the Dow Jones, right? We can see under the 180 SMA strong resistance for the two indices the SPX and the Dow Jones We can see it got rejected here in terms of the Dow Jones back in December here again back in October We peaked above it a little bit back in November, but ultimately pushed below it So this is a very strong resistance We've been talking about it and it's still valid because we have yet to break above it in terms of these two Indices right the SPX three times in the past right also in October also in November and In December is where we had difficulty breaking above that simple moving average, right? We've been talking about this over the past couple of days and let's take a look a little bit closer here on a 20-day one-hour chart basis to see some closer movement in terms of the SPX So in yesterday's video for all you that recall I was talking about this pattern that's slowly starting to unfold in terms of the SPX We saw the peak at 2675 then we saw another peak at 2650 what this is telling me is that the SPX is slowly starting to form a Descending pattern of lower highs and what I wanted to see in today's session was I wanted to see if we were gonna form another one Of those peaks at a previous or a lower low rather from the previous right and this is exactly what ended up happening We can see earlier on in the day guys around. Let's say what time was this 10 30 a.m We saw that peak at around 2645 and then another peak at around 2643 which was lower than that previous peak from yesterday So in my opinion judging off of this we are seeing a slow Descending pattern of lower highs in terms of the SPX over these past three days It's kind of evident based off of this chart, right? But also I wanted to point out this is like a bullish pendant right now That's slowly starting to form on the SPX meaning that if we do end up popping out of here That is a very bullish move for the SPX So what you need to keep an eye on guys and what I'm keeping an eye on is You know towards the end of this session and obviously towards tomorrow's session and the rest of this Month really is we want to see if we're gonna break below here for the continuation of the downtrend, right? This this you know trend line that I just drew for you guys right here And this mini one from the past two days that you can see right here You know, this is a resistance for where we are right now in the SPX So if we break out of here, that's a pretty bullish move guys because that's a break of the resistance the top channel That we can see here and here But if we break the support which is right here from the previous two days, you know If we break down right that's gonna be a reversal pattern to the downside and the continuation is going to continue So right now we're in a pretty you know Interesting spot for the SPX in the smaller time frames here on the five-day five-minute Also on the 20-day one-hour pretty interesting spot guys because you can see it's kind of like a bullish pennant We can either go up here break that resistance or we can break the 50 SMA and Continue that downtrend that we've been on over the past three trading days So keep an eye on those levels guys for tomorrow and same thing with the Dow Jones guys, right? This one is in the process right now of making its third higher low, right or lower high rather and Same thing right a peak that 24,750 the next peak was at around 24 600 roughly right and now we're in the process of making that third Potential peak but again, this is kind of in a pennant as well So if we do end up breaking out that's gonna be a bullish move But if we get rejected here and slowly break the 50 SMA to the downside That's gonna be a pretty good move to the downside In continuation of the downtrend over the past three days in my opinion for the Dow Jones drop a comment down below Let me know what you guys think about this. I would love to hear from you all so from the NASDAQ composite guys This is one that's actually looking the best in terms of technicals, right? We're holding that 50 SMA is a support We're slowly starting to find a consolidation on it and we're slowly starting to form a cup pattern Testing really the next resistance which would be at around 6,800 guys That's where from just judging base off this chart That is where we can see the NASDAQ go if it does end up bouncing successfully to the upside Maybe if it heads into the mid 6,700s, you know, we're gonna be testing that resistance at around 6,800 to 6,850 over the next couple of days So, you know the higher low higher high pattern is still intact for NQ unlike the Dow and unlike the SPX so the other you know NQ guys It's just been on a just better path over the past couple of trading days And it hasn't really fallen as much as the Dow and the SPX over the past couple of Trading days, but what levels to keep an eye on guys? You know, we've been talking about that 6,800 dollar resistance on the NASDAQ if we if we can take a look a little bit closer here You can see it's right around 6,850. I just talked about that if we're trading in this channel Which is very still that which is still valid right now like I said if we're slowly starting to push back up We're gonna be testing this resistance and the top of the channel But let's say we start to push down here That's gonna be a break of the pattern and especially if we break around 66 30 Which is another support that's gonna be a break of the pattern to the downside and of course 6,500 is the next support that you want to keep an eye on to see if the NQ NASDAQ composite is able to break below that So that's what I'm looking at in terms of the three major indices So is the stock market about to sell off honestly guys based off these Technicles right now what I'm seeing is yes I do think we are about to sell off Judging off of these, you know major time frames these larger time frames here on the 180-day for our chart, you know, I think we are going to sell off especially with the Tensions in the trade war we've been seeing a lot of news recently that you know Trump and China are having a little bit of difficulties coming to a Trade war agreement right and we know there's a deadline on this by March 1st And if they don't come to an agreement by March 1st, I think that's going to be very bad For the stock market, right? We have about a month and seven days until March 1st guys So I think February is gonna be a very eventful month I'm actually super excited and I want to show you guys something else here very quickly You know based off of this so um Very quickly here. We saw today that who was it guys I keep forgetting US Commerce Secretary Wilbur Ross Said the United States and China were a long way from resolving their trade dispute while Iranian shipmakers Lifted the Nasdaq so this proves right to my point right the Commerce Secretary Wilbur Ross Said the exact same thing that we've been hearing out there that they've been having difficulties, right? You know Trump might be saying the trade war is caught that the deal is coming, right? But this in my opinion is just to pump the stock market with some optimism It's false hope in my opinion, right? I think that they are far from a trade deal right now And this is going to be pushing the markets down over the next month But of course, let's say miraculously they do come to an agreement by March 1st I think that's gonna be pretty good for the stock market, right? So drop a comment down below Let me know what you guys think honestly guys I think you know if we don't hit that trade war agreement I think there's gonna be a lot of blood in the waters in the first half of 2019 Maybe the entire year until they do come to an agreement guys because I believe he's gonna be pushing up the tariffs to 25% and where you know the Chinese economy is right now where they're already doing poorly You may be thinking like China. Why aren't you doing this trade deal? It's gonna help you out But you know, they're not really budging neither is Trump. We know how that's that's been You know, we know how that's going and you know It's just not looking too great right now in my opinion in terms of the trade deal unless we get some miraculous news Over these next couple of weeks about any new, you know, glimpses of hope, right? And you know not false hope legit hope, right? We want to see something like that So that is my just a little two cents here. I think the markets are gonna continue to fall We just need to see that big red day. I know we got one two days ago But we need to see that big solidifying red day that's gonna push the SPX, you know out of this You know little pattern that we do see here forming today and it's gonna be pushing the SPX down This is what we need a day. That's just gonna push it down You know kick some more panic selling in and that's just gonna send down the market mix with the trade war news all this jazz That's been going on. So what did I end up trading today guys? Not too great of a day for me today To be completely honest with you guys because we did see the overall markets We were flat on the day guys we can see we're about to close in five minutes pretty flat on the entire day so far You know not too surprising that I didn't do too well today because you know I took a trade in TV IX early on in the day and I ended up scaling into this position starting out at around $51 and 20 cents. This was this morning I put it in the group chat like I said and I ended up holding through this pain that we saw Right after I got in right I ended up holding through it guys. We bounced all the way down to $48 so from 51 20 guys I scaled in and I was down around 5% I'm gonna be completely honest with you guys I let it go a little bit loose today in terms of the stop loss and This was mostly because I scaled in with a very small portion of my goal position when I typically do this guys I don't always keep as tight of a stop loss Because I want to see if I would want to add more money at a lower price Even if it does go down to three four percent below where I would typically cut my losses So I ended up getting in like I said at around 51 20. We ended up dumping down around four or five percent from where I got In we started to see some consolidation I honestly did not end up adding more shares because at this point the markets were Pushing up and I wanted to see a you know peak in the market So we ended up getting that double top in the SPX and honestly this would have been a smart opportunity To add more money into TV IX because of the double top, but like I said guys I ended up not adding more money It was just kind of a weird trading day for me today And I honestly ended up just taking a very minimal loss on this because we started to see that We pushed up a little bit from this double bottom on the SPX, which means this one Or the double top on the SPX not a double bottom top on SPX and then we obviously saw a double bottom here This is where I should have added the money did not add the money that I ended up Just pretty much breaking even taking a very small loss on TV IX today at around 1 o'clock 108 as we started to run back up and honestly guys. I viewed this as me Pretty much lucking out today because I did say in the chat that I was being a little bit ballsy with not riding a stop loss And just riding it, you know without a stop loss and just letting it fly I don't typically do that, but today I did do that ended up Closing and guys I was a little bit scared right here because I was down 5% And I wanted to just get out at that point and we ended up pushing up Right, and then I ended up just taking that very brief loss at around $51, but I'm not too mad guys because you know The markets weren't too crazy today Not too much opportunity out there and honestly guys, you know, I don't trade every single day I have been over the past couple of months to be completely honest with you guys But I try and tell you all that it's not necessary to trade every day It's better to just wait for opportunities to come to you and take advantage of them And have proper risk management and today guys, I know I said, you know, I scaled in but I still should have had somewhat of a stop Loss, I just let it ride guys and I ended up, you know pretty much dodging a bullet, right? I dodged a bullet because I was down 5% you guys might think I'm being a bit dramatic But honestly, I always set stop losses no matter what but today for some odd reason I just went against my rules dodged a bullet and Ended up not really taking or just barely taking a little loss So let me know what you guys ended up trading down below. Did you guys trade TV IX or you still holding TV IX? What do you want? What are you doing? What do you want to see out of this position? I'm very curious to know but other than that guys, you know some stocks that we did see do very well today Were the semi conductor Stocks like micron. I think Nvidia did very well today advanced micro devices amd did very well today Did Intel do well today? I don't know is Intel I don't even know Intel's ticker symbol off the top of my head But I think Intel did pretty well today as well Well, let's just take a look at those guys. We can see micron was up 5.3% and very solid day M you guys was up 8% and for those you guys that don't know I'm in M you and my longer term portfolio and I'm down like I believe at this point like 25% on my position. So the fact that we gained 8% Actually bumped me to that 25% because I was already down actually 30% or something like that before today So I'm actually you know not even mad about losing money on TV IX today because one of my holdings my long-term portfolio Did very well 8% day today. So I'm actually pretty pretty happy about micron finally starting to gain some Traction back from the low at about $28. It was up to around $38 today I do believe $37 so it's been able to gain about 10 cents per share over the past couple of weeks and You know I'm very happy about that guys Let me know if you're a micron shareholder down below in the comments I would love to know so Nvidia up $8 today up around 5.73% and this is the trend that we noticed guys semi-conductors did very well as you can see from that article that I posted Uh, or I pulled up very quickly before it said chip makers You know are doing well. We can see exactly why there. So, you know, that's what I'm looking at guys We saw another move today from Cron very solid move. If you guys traded Cron today, let me know We can see it pulled back from 16 held that 50 SMA bounced on it very nicely And now we're gonna be testing that 16 level again as a resistance point And if we break out of there guys, who knows Cron can run even to the 17 level We don't know and I made a video talking about Cron how there's a ton of hype behind it And I made that video but I think this day and literally the next two days We shot up all the way to $16 if you guys remember that let me know down below It's just been a very strong Performing stock as well as and Bev guys and Bev has been doing pretty well over the past couple of days And this looks like it's opening up for a nice trade. We can see it's holding the 50 SMA It's holding this uptrend right here very nicely. So if it ends up pushing guys, maybe into the 675 range I could see it run back to the 770 range, which does give it around a 14% profit margin Potential on and Bev. So that's pretty much what I'm looking at right now guys. Just drop a comment down below Let me know what stocks ETFs you're watching what you're trading I would love to talk to you guys about that So if you did enjoy this video feel free to smash a like with the comment subscribe Follow me on Instagram and Twitter and join our discord group chat as well as our Facebook group All of those are linked down below in the description box. I'll catch you all in the next video Thanks for watching peace out