 What is going on everybody Astos 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 14th of February and 2019 as well as taking a look at some other stocks and ETFs that I have here on my watchlist and talking about some Interesting news that we got this morning Regarding retail sales data, so for everybody out there that finds value in these videos You enjoy the content here on YouTube feel free to hit that like button It really does help the channel grow and I appreciate every single one of you out there more than you know for watching these videos Subscribing to the content of course hitting that like button. So without further ado Let's talk about what ended up happening today the 14th of February in the overall stock market We can see the SPX the S&P 500 index the 500 largest traded publicly traded US companies Ended up closing the day today red down about seven dollars and thirty cents down around 0.27% the Dow Jones the Dow 30 ended up closing the day down as well Down about a hundred and three dollars here down around 40 or point 41 percent at the close And the NASDAQ is the only one that ended up closing the day green This is the future guys, which is showing that we're headed down after market hours But at the close about ten minutes ago We were up around six dollars in terms of the NASDAQ really no movement You know towards the end of the day really had a break-even price compared to yesterday's closing price So overall today guys, you know, we saw a really a strong push to the downside This morning due to that retail sales data that we're gonna be talking about a couple in a couple of minutes here And from there guys, we were able to you know end up pushing back up in terms of the major markets We can see that here, you know in the morning literally the NQ the NASDAQ dropped about 70 points And we ended up pushing back up for the latter half of the day same exact thing here with the Dow Jones guys We ended up gapping down pretty heavily Recovered nicely towards the end of the day and the SPX we gap down strong on that retail sales news Then we ended up closing the day pretty strong on a nice little upswing here So let's talk about some, you know closer Technicles on all of these major indices so we can get a better understanding of where the markets are pushing guys because Getting an understanding of the entire markets the SPX the Dow and the NASDAQ This is gonna help us determine what we're going to be trading for that day, right? Are we gonna be trading, you know bear ETFs? Are we gonna be trading large cap stocks? Are we gonna be going long on large cap stocks, you know understanding the trend Understanding where the overall markets are pushing. It's gonna help us tremendously with these decisions So you all know by now That you know from the end of 2018 We've been up extremely nice in the SPX and quite frankly the entire market, right? We've been up around 15% from the bottoming out point here, you know in the SPX, right? You can see that there the NASDAQ I believe is a bit higher We're up around 16% and the Dow Jones is right there up around 15% and we've seen you know along the way here We've had healthy pullbacks and Continuations of uptrend patterns by you know making higher lows and higher highs, right? This is all evident here based on this chart and to be quite frank with you guys, you know We are getting towards major resistances here in the SPX one that we talked about in yesterday's video Was that around 27? 95 the next one being at around 28 15 and if we eventually break out of these resistances We're going to be headed back Potentially to these all-time highs which I personally think is not going to happen guys because we got some really big news today Regarding retail sales the economy slowing down in general these trade war talks It's kind of hard for me to really wrap my head around Us getting all the way back to all-time highs which is around another eight nine percent actually around right around six seven percent Higher from where we are right now, you know if we do end up pushing there guys I'm gonna be pretty pretty surprised, but you know anything can really happen in the stock market But I personally just don't think that is going to happen But to take a look at some closer term trends here guys judging on this 30-day 30-minute chart here We can see this channel that we've been trading in over the past couple of weeks And we've been talking about this channel a lot over these past couple of videos, right? We can clearly see the support of the channel where we got, you know Bound where we bounced above once twice three times here You know four times back here towards the middle of January and the resistance of this channel that we topped off that here Back in the middle of January here towards the beginning of February And this could be the next potential top that we saw two days ago on the 12th of February guys and you know we're trading in this channel higher highs higher lows the uptrend is very nice And it's honestly looking like we're not pulling back whatsoever in terms of these Technicles, but what I want to tell you guys and what I want to you know jam into your heads here is that This uptrend might not be done quite yet based on these technicals Sure We did not get above this resistance today pretty much two straight days of struggling to get above 2760 but we saw similar price movement a couple of weeks ago or rather last week at this point or two weeks ago rather Where we had two days of consolidation where we could have potentially pulled back But we ended up pushing up more towards the top of this channel So what I'm saying here guys is that you know we could potentially be pushing back up here just because we've seen two straight days of Consolidation right around here and because we are in the middle of the channel not quite yet at the top So I do still see some upside here in the SPX. Let's say tomorrow. We do end up pushing up above Let's say 2760 that's gonna be a good sign that we're breaking that resistance and Continuing the uptrend towards the top of the channel with a goal potentially at around 2780 for the SPX, but of course, you know if we do get rejected here if we have trouble getting past This resistance at around 2760 and we end up selling back, you know closer to that 50 SMA That's gonna be a very close, you know Or very important sign rather or you know indication of are we gonna break this resistance or support rather? Are we gonna break this and then break the channel? Right which is gonna be a good sign that we are reversing pattern to the downside, right? Because we can see the support on this channel is very strong and if we break that that's gonna be a huge break of pattern To the downside really signifying more potential selling in the overall stock market So tomorrow guys, I'm waiting to see are we breaking out of this resistance to continue the uptrend Are we gonna end up pushing down here? Maybe back into the 27 30s and test that 50 SMA Support as well as this trend line support here for the channel. It's gonna be very interesting to see You know where we're gonna end up heading in terms of the SPX guys So, you know in terms of some longer term resistances here We're still playing with that 180 SMA resistance here on the one-year one-day chart on this three-year chart We're playing with the 50 SMA resistance as well all critical points for the SPX that you should be keeping an eye on Every single day to see, you know where we could potentially be headed in terms of the index So the Dow Jones today guys, you know very similar to the SPX We were trading in that channel over these past couple of days with major resistances coming up at around 25,750 dollars the next one being at around 26,200 dollars and if we're judging on this closer term chart here the 30 day 30 is this a 30 day 30 minute 90 minute 30 day 90 minute chart We can see this channel as well just like the SPX right we can see the support of this channel We can see the resistance of this channel nice higher lows nice higher highs the uptrend is still 100% intact, but the past two days we've been seeing some resistance some consolidation right around the $25,500 mark in terms of the Dow Jones guys So what are we gonna end up doing tomorrow? We're gonna pull back and potentially bounce on the support of this channel and the 50 SMA and you know Potentially head back up or are we gonna break this which is gonna be a huge huge pattern? Huge reversal pattern to the downside which could trigger and signify more selling to come in the overall Dow Jones, but right now guys at the time that I'm recording this video You know the SPX and the Dow they are both trading in this channel still They are both uptrending in price with tomorrow being a very very critical day You know for the major indexes indices and you know the overall stock market another and another thing to keep an eye on here Guys is this previous resistance? Which is now a new support for the Dow at around 25,400 dollars, which is done Which it does seem we were holding above today So if we do end up breaking that here guys breaking that to the downside That could be the first step to potentially testing the 50 SMA support and this channel support here And of course like I said if we break that that could trigger some more selling for the Dow Jones So taking a look here At the end to the NASDAQ composite tech heavy indices right here We're trading in that same exact channel just like the Dow just like the SPX with major resistances coming up at $7,100 and the next one being at around 7,250 dollars and we can see here today guys over these past two days We've been seeing some strong resistance at around 7,065 which could indicate the potential top here in the NQ Future in the NQ Indici here guys and we can see you know we do have some more potential room to the upside But for us to continue to the upside to potentially test the top of that channel We're gonna have to see if the NQ ends up breaking above 70 60 70 70 you know this this this resistance here Signified by that trend line that I just ended up drawing for you guys today So, you know not much different movement from what we covered in yesterday's video So I don't really want to spend too much time talking about the major indices Just know we are at critical points in the Dow and the SPX and of course in the NASDAQ Are we gonna break to the upside to continue the uptrend or are we gonna end up breaking the supports on these 20-day 1-hour charts For the major indices which could signify more selling to come It's gonna be very interesting guys, especially with the trade war deadline coming up It's gonna be an interesting time over these next two three weeks in the stock market And there's a lot of implications out there that could end up sending the stocks the indices down in price And of course if we get good news, you know trade war comes to an agreement right Trump and China come to an agreement You know, we could get some optimism some short-term push to the upside in the stock market You know a lot of things could end up happening where we are right now So let's talk about what I traded today very quickly Before we talk about some retail sales data that I find very interesting that we got this morning That really sent the stocks down when we saw that this morning guys the stocks were down the futures were down This ended up Opening my eyes to my trade this morning and I ended up trading today TV IX and for those of you guys that don't know this is an ETF That trades based upon the SPX and whenever the SPX is going up in price You know TV IX is selling off But of course when the SPX is selling off TV IX is going up in price And we can see here guys on the five-day five-minute chart just how crazy TV IX went up today and we can see you know this this big spike here signified the sell-off in the SPX and The VIX actually was going pretty crazy this morning as well from around 1550 all the way up to around $17 and for those you guys that don't know what the VIX is it pretty much shows us You know the volatility in the stock market, right? We can see here It's called CBOE market volatility index and just to put it in very simple terms whenever the markets are very volatile The VIX is popping up hence why in you know towards the end of December right after that bloody month of December The VIX was up all the way to $36 and if we can take a look back 20 years The VIX was at $90 back in 08 during the Great Recession Which was obviously a very volatile time with a lot of red in the overall stock market But anyway guys talking about my trade in TV IX we saw that initial push up here I tried to get in pre-market hours did not end up getting filled for some odd reason I literally tried to get in at 926 a.m This morning right before market open on the anticipation of more selling Once the market opened which is exactly what ended up happening, but I didn't get filled So what I ended up doing is I wanted to wait for the first pullback that we got in TV IX and that Happened right here guys. We can see I tried getting filled right around here I would have made a pretty solid profit if I got filled and sold off very quickly, which was my personal plan here I did not get filled we ended up selling off back down to this 50 SMA support And this is what I was waiting for that initial push pullback to get in to TV IX and of course We can see here guys at around 940 10 minutes into the market We can see what was going on with the SPX right? We ended up selling off heavily We got that pushback all the way up to around 27 38 at around 940 And we got rejected by the EMA and we slowly started to make lower highs Which really indicated some more downside to come which is where I ended up getting in to TV IX for a very quick little 1.4 percent I believe or 1.5 percent scalp trade off the bounce here on the 50 SMA from around I believe 3654 I got in up around 1.4 up 1.5 percent which put us right at that resistance from the previous pump up at around 930 a.m. Right at the beginning of the market and I wanted to sell here guys pretty much because we filled that entire gap That we ended up pulling back from right we can see the pop up to 37 20 The pullback opened up that margin and the whole idea here was to profit on this comeback And I ended up selling right here at that resistance which really ended up working out right You know in line with my plan which doesn't always happen guys, right? But today ended up being one of those days where it did end up working out exactly to my favor So that is one trade I made today in TV. I X drop a comment down below Let me know what you guys ended up trading today and let's talk about now very quickly What ended up happening with the retail sales and I do have my phone here I'm gonna be pulling up some notes and talking about what ended up happening today and honestly guys this news that we got Signifies the strength of our economy if sales are at the lowest they've been in years This does signify a pretty weak economy. Well, not really a weak economy rather a weakening Economy right so let's go over some of these, you know major numbers that I do have here so retail sales sank 1.2% in December which was the largest drop since the end of the Great Recession in 2009 so pretty much guys 1.2% drop is Pretty much the biggest drop in the past ten years that just happened right now This pretty much shows proof that the economy is Slowing down right we saw another big drop actually in gas station sales Which I think is pretty unique because gas prices have actually been pretty low I don't know about you guys, but where I'm from in New Jersey, you know gas right now for regular I believe it's like $2 and 15 cents for a gallon and a couple of months back It was like like 280 290 and about a year ago. It was at $3. So gas prices are low But we saw a 5.1% drop in sales at gas stations, which is just honestly mind-boggling to me We saw a 3.9% decline in sales from internet sellers such as Amazon such as eBay Which again pretty surprising their guys the growth or not the really the growth of the companies the You know the sales are slowly starting to slow down really showing that customers out there people in the economy Aren't really, you know buying as much stuff as they used to right maybe back in 2012 when the economy was in the straight bull run You know people were buying stuff. It's not like it was back then right? We also saw Which is kind of expected here a 3.3% drop in sales at brick and mortar stores such as Macy's Coles and Nordstrom guys so we got some dropping sales and internet sellers Of course the brick and mortar stores that have been doing poorly over the past couple of years We saw a drop in them and of course in the gas station sales So these are pretty interesting numbers guys And you know the stock market did not react positively to this hence why we sold off Pretty heavily this morning and I was able to capitalize on that TV IX trade But what do you guys think about this right? Do you think this is pretty significant to an economic slowdown the US economy? Slowing down the global economy slowing down. What do you guys think about this drop a comment down below? I would love to hear your opinion and we can chat about it down below in the comments section So let's talk about very briefly here some other stocks that ended up moving down some other ones that ended up doing very Well today and that I see potential in over these next couple of days So let's start off talking about Tesla guys. This is a stock that I was swing trading I ended up cutting my losses yesterday took about a 1.2 1.3 percent loss in Tesla we ended up getting rejected by this 180 SMA here Yesterday in Tesla I believe or the day before and now honestly guys It's looking like it's descending in price because it didn't break above here Which would have been a very big break of pattern to the upside and honestly based off these technicals guys We do see further potential selling off in terms of Tesla stock So Tesla stock they do have a deadline to be at a certain price point I forget from the top of my head right now or else they owe about 900 million dollars I know some of you guys watching out there you guys know what I'm talking about right now But this is not looking too good for Tesla because their stock price needs to be at around 350 I believe was it 350 or 360 or they have to pay that debt Let me know down below in the comment section, but you know, it's not looking too good guys You know Tesla stock literally has to run up like 15 percent for it to get to 350 Which is that price point not looking too good right now in terms of? Tesla stock but we see you know We are getting rejected not looking like we're pushing back up in terms of Tesla stock another runner We had today was in T and D M This is a very popular stock a lot of people talk about it a lot of people trade this stock and we can see today It's up around six point six percent. We ended up consolidating for two days in a row This is a bullish not really a bullish move But a consolidation and of course we saw the break above $47 today, which was the old resistance which was a bullish move and we ended up seeing it run an extra $2 Roughly from that break of this resistance. So guys, I'm taking a look at TNDM here For a potential pullback tomorrow to see if it's going to able or if it's going to you know be able to hold This old resistance as a new support and potentially test the $50 price point. So that's what I'm looking at Excuse me in terms of TNDM another one that we saw did very well today was UWT guys we saw crude oil today Pulled back pretty drastically opening up a nice margin of profit on UWT and crude oil did another one of those gap fills again today, right? And we can see You know strong resistance at around 54 70 We ended up pulling back all the way to $53 opening up that margin on UWT and we filled that gap very beautifully So did anyone end up day trading? UWT today. I personally did not I missed the move and we can see exactly what we see here guys, right? It's like a u pattern. We ended up dipping down opening up that margin of profit Selling off to around $13. We found the bottom here the double bottom the reversal back up to the upside And this would have been a good entry point right here, especially when the 50 SMA crossed above the 180 SMA Which is a very bullish sign that we take an eye out and keep an eye out for In terms of entering positions and we can see once that ended up happening, right? Momentum was swinging towards UWT's favor And we ended up riding it up all the way back to the pre-market resistance at around $14 and 30 cents So tomorrow guys, I'm going to be keeping an eye. Are we going to break above 14 30 to continue to run up on this uptrend Pattern that we've been on over these past couple of days and eventually test that $15 resistance I'm very interested to see if that is going to happen and Another one that's looking pretty good right now for potential swing trade is Cron Cronos group. We are seeing here That it does seem to be on a higher high higher low pattern over these past three days But keep an eye for this resistance at around $21 and 50 cents If we do end up breaking that it's going to be a very bullish move to the upside And we could end up running back up to 25 dollars again guys. Who knows these marijuana stocks We all know this by now. They're extremely volatile. They could run 15 percent in the day. No problem They can also drop 15 percent in a day. No problem So honestly, I can see it running back up pretty soon here to be honest guys based on a technical Basis and if we're judging here on the 180 for our chart, it does look like it's maintaining the uptrend pattern here We see a double bottom at around 19 dollars We see the break above the 50 sma here on the 180 and of course that resistance that we just talked about It needs to be broken above before really testing those previous highs at around 24 25 Dollars so another one ea today guys It's still pushing up What I want to see for a potential breakout is to see ea break above 105 if it does That could be a technical indicator that we're going to break out and see more bullish move More bullish signs in terms of ea also keeping on this 107 resistance guys if we break that 107 resistance We couldn't be running back up to about 111 Which was a previous support a couple of months back here back in uh, September so keep an eye guys These are all levels that could 100 be hit in terms of ea stock and another one the last one We're going to be talking about today Is gush ticker symbol g ush This is an inverse etf that trades based upon xop and whenever xop is going up in price guys Gush is going up in price. So we see here a potential bullish move on xop We see the low at about 23 dollars the next low at about 28 dollars And if we break this downwards trending pattern here of lower highs This could be a very nice breakout move to the upside for xop Opening up a pretty solid margin on uh gush guys So take a look it's trading in this channel right here pretty much right If we break out of here that's going to be a huge bullish move But if we get rejected really that's going to be a good move for drip Which is the inverse to gush guys. So keep an eye on xop What way are we going to go are we going to break out the bullish move? Which means we're going to trade gush or are we going to break below here Start to go down and trade drip Which of course is the bare etf here that goes up whenever xop is selling off So that's it for today's video guys. I hope you all enjoyed it Feel free to drop a like leave a comment and subscribe Let me know what you guys ended up trading today Do your own research guys. This is the most important thing do not trade anything based off of my opinion That is super important so you can become a self-sufficient trader and investor over time I'll catch you all in the next video. Peace out. Have a great night