 What is going on everybody? It's 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 8th of July 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 in the month of July in 2019. But before we do actually get into the video today, guys, all I ask from you is if you enjoy the content here, you find it valuable, go down below, hit that like button and subscribe to the channel if you do enjoy the content and you want to see further content for me. So without further ado, guys, let me minimize my screen here or my camera rather and let's just get into the market update. So today, we actually saw a pretty decent dip in the stock market. The S&P 500 was down $14.46 down 0.48%. The Dow Jones industrial average down 115 points today down 0.43%. And the Nasdaq also took a pretty solid hit. You guys can see right now it's up 0.04%. But that is the future. I believe the Nasdaq was down at the close about 0.8%. So it did get hit a bit harder than the other indexes. So you guys can see the markets clearly took a dip today and you read in the title of today's video, am I going to be buying the dip? So stay here in a couple of minutes. I'm going to be talking about my personal opinion on that, what I plan on doing in terms of this dip in the stock market. So very quickly here, guys, let's just take a look at some technicals for the S&P 500. And it's obviously clear that we've been hitting all-time highs here pretty much over the past couple of trading days here, pretty much the past two, three weeks in the markets, we've been hitting all-time highs, especially in the SPX. You guys can see the all-time high now is $29.95, five points shy from that $3,000 mark. And what I've been saying and kind of punching it to your heads here at this point in terms of the S&P for further all-time highs is we need to see this index hold the old level of resistance as a new support. And that old level of resistance at this point is around $29.50 to about $29.75. Notice how over the past couple of months, this is a point where we actually saw three separate resistance points. Back in 2018, before we saw that big correction in the market, that's where we topped out at. Back in towards the end of April and 2019, we hit that level at $29.50 before we sold off in the month of May. And now we saw another bit of resistance there back towards the end of June, where we actually broke out of that resistance to hit the all-time highs. So now that we are seeing a bit of a retracement here in the S&P and the overall indexes, I would love to see this hold the old resistance as a new support. That's very critical in my opinion for these markets to continue to run up here on a technical basis. And if we're going here to the 20-day one hour, the uptrend is still intact despite the sell-off that we saw today. You guys can see we had a bit of a double top here, which is a bearish sign. We got the high at $29.95, another high at about the same point. And we sold off from there. We gapped down this morning. The futures were red. And we saw a bit of consolidation throughout the day today. If you guys can see on the one-day one minute, some consolidation on that 50 SMA on the 20-day one-hour chart. So that's kind of giving me hopes that this is simply a dip and the uptrend is still intact. So S&P, that's what that is looking like on the 20-day one hour. The five-day five-minute, you guys can see the double top even clearer here. The pullback and the consolidation on top of old resistances at about $29.75. So that's a pretty good sign here, actually, guys, that we are holding that high at about $29.70 as a new support. And notice how that was also a support from the session on July 5th. Notice that level here. So this is a good sign. But tomorrow, guys, we're going to need to see, in my opinion, a break out of this level here that I just drew out on the trend line for you all for the continuation here of the uptrend. We're kind of in a wedge here. You guys can see it. Over the past couple of days, we're kind of in a wedge. We hit that support of the wedge. We're still getting rejected by the resistance of the wedge. So we're going to need to pick a direction here. Are we going to break out? Are we going to maybe break below the support? Those are a couple of things here that I'm personally watching to really determine the direction of this S&P 500 index, the 500 largest publicly traded U.S. companies. And that leads me to my point here, and you guys read in the title again, am I buying this dip? I am not buying this dip quite yet. Until we pick the direction here on the S&P out of this wedge or below the wedge, obviously, I won't be buying the dip at that point because that's a break of the pattern. And at that point, we'll be breaking the 50 SMA on the 20-day one-hour chart. But let's say we break out of this wedge. At that point, we're going to be confirming the bounce on that 50 SMA here. That's going to be a point where I'd consider heavily buying the dip on a technical basis. So that's personally what I am watching for in terms of buying the dip on the S&P 500 and going over here to the NASDAQ. It's very similar. If we draw out a little trend line here, you can see this is also in a wedge. We're making higher lows, higher highs at the same time. We're making lower highs over the past couple of trading days here. So we're going to need to see, is this going to pick a direction to the upside? Or is it going to break the trend line support and pick the direction to the downside? So let's say we break out like this, that would be a good opportunity to go long on some of these ETFs that track the NASDAQ in specific, like TQQQ, which is a 3x leverage ETF that goes up whenever the NASDAQ's going up. If we break out like that, that would be a very good play. And QQQ is also an ETF. It's not leverage, but it trades on the NASDAQ. So that could be a nice little play as well on this dip for the NASDAQ. And going back to the NASDAQ, let's take a look at some longer-term supports here very quickly on the 184-hour chart before we get moving on to the Dow Jones. You guys can clearly see we hit that 7,900 level. That's been a clear level of resistance here over the past couple of months. And also, we've been pulling back, again, obviously, that retracement that we saw today. That retracement brought us back down to that 50SMA support, which has been a support here over the past couple of weeks for the NASDAQ. So I'd say at this point, if we hold that 50SMA, we pop out of that wedge on the smaller timeframe charts, that's going to be a pretty bullish sign. And the dip will be pretty, pretty juicy to buy at that point. And we'll see tomorrow, if the futures are gapping up, that's going to be a sign that the markets could be pushing green. And ultimately, we need to see a break out of the 7,900 level and into the $8,000 level for a full-on break out of these resistance levels that have been strong resistance levels over the past couple of months for the NQ, which is pretty much around $7,700 to about $7,900. Very strong resistance points. So if we break out into the 8,000 level, we pull back, we hold the old resistances as new supports. At that point in time, guys, we could continue to hit all-time highs for the NASDAQ, right? So going over here to the Dow Jones industrial average, very similar thing. Resistances over the past couple of months, you guys can clearly see it here. On the one-year, one-day chart, the resistance is at about $26,700. We hit that level here, that was actually an all-time high. We hit that level again in April of 2019. And we hit that level again about a couple of weeks ago towards the end of June. And now we broke out of that level, we hit an all-time high at $26,966. And we're in the process and we're looking to see if the Dow Jones is going to hold this level as a new support, which I think is critical again for this index to hit another all-time high and potentially get into the $27,000 range. Going back to the 184-hour, it's a lot of the same, right? You guys can clearly see it's trying to hold that level as a new support. If we go here to the 20-day one-hour chart, very similar to the S&P, we pulled back. We saw a bit of a double top here over the past couple of trading days, which again is a bearish sign. But we are holding that 50 S&A very nicely and we are in a bit of a wedge here. So the wedge pattern here, guys, on all of the indexes is super important to determine whether or not we're going to break out, maybe see a bullish move or see that bearish move if we break the support level of these wedges. So that's pretty much it for the Market Update portion of today's video. The markets are still in an uptrend based on the technicals on multiple different timeframes. But the key takeaway here, guys, is just to keep an eye on that wedge, what direction are we going in? That's going to determine and help us, me especially, and I'm sure you guys as well, determine what stocks, what ETFs are going to be in play. So with that out of the way, let's talk about what I personally did today in terms of my trades. And let me know down below in the comments section, what do you guys think about the markets right now? I would love to know. So today, guys, I actually ended up just cutting out of my position on Intel. And you guys that watched the videos last week, you might have remembered, you might know, you may not know who knows, right? But you may know that I was in Intel at about $47.80. And I was talking about how I was going to cut out of this position if it were to break below the 50 SMA. And it did briefly break below this 50 SMA here. And I'm really just not liking the pattern that Intel is currently on, right? It was writing that 50 SMA quite nicely, right? Which is initially why I got into the position. I got into this position actually right after we dipped from 4950 down to about 4780. I saw the margin of profit there was about 34%. I like 34%. I think that's very, very good. I saw that it was holding the 50 SMA support very nicely. Decided to build a position here at about 4780. I let it ride. I held it over the weekend. Everything was looking good. But now what I'm not liking is the lower high here that I am starting to see. Notice how 4850, we actually got rejected by that resistance from the 27th of June at 4850. And we dropped. And we actually broke below that 50 SMA here in the pre-market session today. That was a huge red flag for me. Again, we got hit again by the resistance. We're making a lower high. This is just a pattern in my opinion that is showing INTC. It could be turning around here to the downside. So I didn't take too much of a loss at all on this position, guys. I just cut out of it. And I'm waiting to see, maybe we pop out of this little downtrend trend line that I just drew. Maybe we pop out of that. And at that point, I can reevaluate the situation and maybe hop back in. But as of now, the way the stock has been moving, I don't want my capital. I don't want my hard-earned money in this particular stock as of now due to this pattern and due to the break of the 50 SMA. Where I said on video, guys, you guys remember me saying this, if you guys paid attention to that part of the video, that if it were to break that 50, I was going to cut out of the position. So I stuck to my plan. That's very, very important when it comes to trading, guys. Always stick to your plan. Don't be like, I'm going to let it ride. It broke the technical spot that I was looking to cut losses at. Maybe it'll come back. That is how you will get burned, right? Me personally, I've learned the lesson the hard way. I've lost a couple thousand dollars on a trade and I'm not going that route again, right? I'm always looking to really just stick to the plan and minimize my losses. That's the whole goal here, right? So INTC stopped out of it. Very minimal loss, really very minimal loss here, not even 0.2, 0.3%, really nothing just because of that key break. But again, I feel super comfortable just cutting losses and seeing what happens tomorrow, right? And in terms of other trades today, guys, literally I have my list of stocks here and you guys who watched the video yesterday, you know the list here, literally, LABU, INTC, 3M, UGAS, UWT, Apple, XOP. These are the stocks and ETFs that we talked about in yesterday's video and literally none of them really did anything today. So I didn't really trade other than my little loss here on INTC because none of the stocks and ETFs that I was watching really panned out, right? We saw LABU today. I talked about that one. This one only had a red day because the markets and obviously the SPS-IBI index that it trades based upon, those were red, right? So we took a bit of a dip here on LABU. Crude oil, we were looking to see if it was going to potentially fill that gap or start to fill the gap back up to $60. Well, we didn't really get that move. We're still trending below the 5750 resistance. We're still trending below this 50 SMA resistance. So that didn't really play out, right? This could be a play tomorrow. It's not completely out of the question now. All we need to see is a break above, I'd say, $58. You guys didn't really do anything today, right? This is another one that was on my list. Literally, $0.04 move at the close. That was nothing. We saw Apple today actually took quite a dip about 2%. And if we look over here to the 20-day one hour, you guys can see from 205 down to about 200, 199, that opened up about a 2%, 3% margin. So this is actually an interesting play that I'm going to be watching if the markets turn around. Apple can very, very well be a pretty good bounce back play here. Again, if the Nasdaq ends up turning around, let's say the S&P hits $3,000, who knows? Apple could recover and do very well. But in terms of my trading today, guys, nothing really panned out. And again, when I don't see opportunities in my watch lists, in the stocks that I prep, in the Sunday video, and through my analysis over the weekend, I don't really force anything, I'm the kind of trader that if I don't see opportunities out there, I'm not looking to force any opportunities because money could be lost in that instance. And money, capital, is the most important thing to preserve when it comes to trading. And if you want to have longevity out of this game of trading in the stock market, very, very important. So now that I got that out of the way, not much trading done on my part today, let's talk about a couple of stocks very quickly that I'm personally watching. You guys saw LABU, LABU right now is on a dip. So this actually might have actually worked out in my favor, right? We got an even bigger dip on LABU, 5%. And if it actually holds this 180S to May tomorrow, let's say the market's turned around, let's say SPS-IBI pops up, which again is the index that it trades based upon. And whenever this index goes up, LABU is going up. And you guys can see it's holding that 50S to May support quite nicely, the RSI is down to a healthy level. If this ends up rebounding, LABU could end up doing very, very well tomorrow. And that 5%, that gives me even more margin of profit if it does end up bouncing. So LABU definitely watching this one tomorrow, 3M. Guys, remember in yesterday's video, I was talking about that double top on 3M. It seems like it did play out to be a very bearish move. You guys can see it dumped heavily here, not really considering this as a trade anymore. The technicals just are broken at this point. They're not looking too good. Apple, again, we just looked at that one. Apple right now could be one of the most interesting dip by potentials here right now in the stock market. Again, from 205, we pulled down, we're holding that 50S to May, and we're holding that older resistance at 200 as a new support. That is looking very, very good in my opinion. And again, if the markets turn around here, if we're popping up, let's say pre-market hours, we're at 201 for Apple, 20150, that could be the confirmation that could lead me to entering a position here on Apple. That's personally what I'm watching. So Amazon is one that I actually got requested to talk about in today's video. At this point, Amazon seems to be nearing that resistance that we were at back in April before the market corrected pretty heavily. You guys can see the market in Amazon. I think this actually dropped. It did drop more than the overall market in general. Amazon dropped 14% from 1970 down to about 1680. Talk about a dip by there, guys. If you were to literally buy this about a couple of weeks ago, when was this? The beginning of June, rather, let me just see. Yup. If you were to buy this about a month ago, you would have made 13% pretty much. If you were to buy at the right time at the exact time, which is pretty impossible, guys. Timing the market is really just, you could get lucky and do it. Who knows, guys, but if you're trying to time the market all the time, good luck with that. That's really unrealistic. But if you were, hey, you would have made 13%, 14% on your money, which is awesome. But as of now, we're actually nearing again that resistance at 1970. If we go back to the one year, one day at this point, we're actually getting more and more overbought here, more and more towards the 70 threshold here on the RSI. At this point in time, on a longer term spectrum here, I'm not really looking to touch Amazon until we break out of 1970. We hold that as a new support, and we potentially fill up this gap back up to the all-time high that we saw at $2050. At that point, guys, if we do make that move, if we pop out of here, hold this level, there can be upwards of 4%, 3%, 4% in Amazon, right? That's the only way that I'd be trading this one. And honestly, guys, I'm kind of scared with where the markets are right now to even hop into one of these large cap stocks. Because let's say, hypothetically now, the market is heavily, heavily pricing in a rate cut right now. And at this point, I really do think we're going to get a rate cut. But let's say there's no rate cut. Let's say that doesn't happen. These large cap stocks, the stock market in general, since it's pricing in the rate cut, it can really drop 5%, 10%. Who really knows? And at that point, these large cap stocks like the Amazons of the world, Apples of the world, they can really get hit. They can really lose their value, maybe drop 5%, 10%, 15%. Who knows, guys, right? And I'm very, very skeptical about that. And I'm going to just be very careful with what I'm trading and what I'm putting my money in because of that exact reason. But let's say we do end up breaking out, we start to fill the gap, that would be a pretty nice trade. And I do like the fact that we're still holding the 50 SMA here as a support. That is very, very nice. If we continue to ride that, it can be a good trade. But the second that it breaks down below this, if it breaks below that level, I'm not really looking to touch it at that point because that's a key technical break. That's a break of pattern, guys, right? So tomorrow is going to be a tell. It's going to tell us a lot about Amazon. Are we going to break out? Are we going to get rejected and get heavily hit down and maybe even break the 50 SMA? These are some situations that I'm personally watching. And let's say we get hit by 1950, we pull down in 1910, we hold that 50 SMA, and we also hold this level of support. This could be a nice little dip by on Amazon of about 2% margin of profit, right? So that could also happen here on Amazon. So that is what I'm watching in that particular circumstance. You guys can see here, market ETFs, as always, I'm watching these every single trading day, guys. So let's say we do have a pretty good bounce back tomorrow on the NASDAQ TQQQ, which is an ETF that's a 3x leveraged ETF. It goes up whenever the NASDAQ is going up. Let's say tech recovers. This could be a very good play tomorrow that offers about 3%, 4%, 5% margin of profit. But let's say on the flip side, let's say the stock market continues its sell-off. SQQQ could be one to play, which goes up whenever the NASDAQ is going down. So let's say the NASDAQ sells off 1% tomorrow, this will be up 3%, right? That's going to be one that I'm watching. TVIX today, guys, also did quite well. This was up 5%. This is what's it called, a volatility ETF. It goes up whenever the markets are typically going down, and whenever the VIX, which is the volatility index, is going up, right today. We saw some volatility in the markets. Market's dropped. VIX was up, I think, like $1 at one point. It was up 5% at the close, and that really did well for TVIX. So TVIX, I'm watching this one if the markets, hey, we might start selling off. Who knows, guys? I'm always keeping multiple different stocks and ETFs on my watch list for different occasions, different scenarios, so we can profit, so I can profit when the markets are going up and when the markets are going down, guys. So that's pretty much it for today's video, guys. If you did enjoy it, feel free to go down below, hit that like button, drop a comment, let me know what you guys thought about today's video. What stocks are you watching? What ETFs are you watching? What do you think about the current market? And I actually uploaded a video earlier today on my M1 finance portfolio update. I'm doing a series for those of you guys that don't know where I'm building an M1 finance portfolio from absolute scratch, showing you guys every single stock, every single ETF that I'm buying and the reasoning behind that. So if you guys want to see that, go check out the previous video. I'm sure you guys will see some kind of card up here. Hit that subscribe button, hit that notification bell so you're notified every single time that I do make a video. I really appreciate all you guys watching sticking around. It means a lot. I'll catch you all in the next video. Have a great one. Peace out.