 What's going on everybody it's Stas here 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 did today on the 25th of July in 2019 in terms of my trades as well as going over some other stocks and ETFs that I'm personally watching and looking to trade here Heading into the month of August in 2019 so if you enjoy this video feel free to go down below and hit that like button if you want to see further content for me Consider subscribing and let's get right into it guys. So today the S&P actually pulled back $15.89 it had a red day of point five three Percent the Dow Jones industrial average down 129 points today down point four seven percent and the Nasdaq today down $53 down point six five percent So overall guys today and across the markets across the three indexes that we track on this channel The markets were red right the markets were red and let's go back to the S&P Let's break down some technicals very quickly so we can see what to expect right and on the broad basis here on the 184-hour chart we can see that the S&P is actually Maintaining this 50 simple moving average right now after the dip from 30 19 that we saw yesterday Which happens to be the all-time highs so the fact that we are holding the 50 SMA right now We are seeing a green candlestick forming on top of it That's a good sign that we are holding the uptrend at a higher or low from the previous one thing That's not too good right now in my opinion is that this could be a double top on the S&P? 500 we remember the all-time high previously was at about 30 15 to about 30 16 And that's literally right at the level that we topped out at I know it's not exactly But it's literally right there guys so that in my eyes and my books Constitutes as a double top From what I'm seeing right now and what we would see you know the full-on bearish breakout What would that be right the bearish breakdown would be if we again broke that 50 SMA Which we are holding right now so as of now it looks like we do want to pop But let's say we gap down tomorrow again We may be you know breaking that 50 SMA which again is very bearish and if we go out very quickly guys You know if I just zoom out a bit and if we go to the handy-dandy little support and resistance tool that I use We can see some levels on the S&P that may be coming up here If we do decide to continue to sell off if the markets continue to sell off So you see one here at 2950 that's a support level that I'll be watching heavily the next ones at about 29 75 you can see we held that back on the 19th of July back in the beginning of July as well This in general is a very strong level and if we broke that guys There's probably another one I'd say around 2960 which is in the middle of this 2950 to 2975 Channel so as of now 3000 we need to hold it in my opinion You know 3000 as well as a support now that I'm thinking about it You know we need to hold this to continue the uptrend and I've been mentioning 3000 Religiously, I feel like over the past couple of videos and it still stands right now And if we break that again, we'll be breaking the 50 SMA. We may be going back down to 2975 So let me just quickly change the drawing tool then we'll go to the the Dow Jones Industrial average and we'll do some breakdowns here So interestingly enough the Dow is also holding that 50 SMA on the 184 hour chart as a support Just like the SMP was right and you can see it again, right? The Dow is holding that level so this in my opinion is still technically downtrending we didn't break that key level and Dump if we do that would be a very bearish Reversal to the downside and if we're going a bit closer here Let's say on the 20 day one hour. You guys can kind of see if I redraw this Let me just quickly remove this drawing. It does not look too good I mean, let me just clear the whole drawing set while I'm at it You guys can see that we're kind of in a a a wedge in a sense, right? Actually more like a downward trending channel at this point check take a look at that, right? We hit 27400 we hit a low at 27,000 we popped up lower lower high, right? We popped down we held that support and we've honestly been holding this support in You know in general over the past three four five trading days So it's interesting now. Are we going to break the support? Maybe break the bottom of this channel and break that 180 SMA and then continue or rather start a Bear trend there or are we going to pop out and break the resistance and that 50 SMA? Which is going to be a very bullish break out. So those are just a couple of scenarios I'm watching right now on the Dow Jones industrial average and it's really gotten itself in this very Interesting spot right now, which the next couple of days guys It's going to pick a direction We just need to see is it going to be upwards or downwards and from there We'll be able to plan out some trades. So that's the Dow analysis Let's go to the NASDAQ very quickly guys You can see the NASDAQ as of yesterday We broke out of the resistance of this downwards trending pattern here of lower highs you guys can see it We broke out which was very good And I mentioned this in yesterday's video if we were to pull back We needed to hold this level as a new support Which was the resistance again of that downwards trending channel So it seems like we did end up dipping a bit below it. We tested that 180 SMA We held that we popped and now we're trading above that old resistance again looking like we are holding it as a support and Honestly looking to continue this rally in the NASDAQ for a potential all-time high again here That's kind of what I'm seeing on the 20 day one hour Let me know what you guys think down below and if we go out even further you can see this is simply a dip We're holding that 50 SMA on the six month chart at a higher low And this could really just be a launching pad up to the next all-time high here for the NASDAQ So that's it for the market update guys the market update portion of this video if you enjoyed it Let me know. What do you think about the markets? What do you think the stock market is going to do here in the next couple of days bearish bullish your opinions drop them down below? So let's quickly now do a trading update. What did I do today? You're probably wondering what happened with my FedEx swing trade I'm actually still holding on strong to FedEx because I'm in at a very good average price right now If you guys remember and if we go to FedEx very quickly You guys remember that I got in on this day I believe at about a hundred and sixty nine dollars and 80 cents from there It ran up all the way to 178 in the matter of a day or two Very quick run and then we got the pullback and then I ended up adding more I believe at like 175 or this was yesterday rather at 175 ish 175 50 I forget exactly but you guys saw it in yesterday's video right and now we got to see Another healthy pullback which if you guys remember my video yesterday I actually said that FedEx could potentially pull back to 175 again and maybe consolidate there as a Higher low before launching up and maybe testing a hundred and eighty dollars and this is at this point This is what I'm thinking is happening right now and again. I could be 100% wrong right I could be 100% wrong, but I think this was the healthy pullback that FedEx needed to see now We're holding 175 strongly and if you go to the one day one minute you'll be able to see that very clearly and let me show you guys here You can see 175, you know We we really hit that spot once twice three four five times throughout the day and we held above it We didn't dip below it at all we literally held above it and ended up closing the day on an upswing so this led me to really be comfortable holding this Swing trade overnight again and potentially adding more money Tomorrow and in the grand scheme of thing guys in the grand in the grand scheme of things guys If we go to the five day five minute and we do a little you know draw out of the pattern The pattern still intact right take a look at that the pattern still intact We held a higher load today from the previous and we closed on a little upswing Now ideally I would like to gap up tomorrow. Hopefully we gap up to 176 50 177 maybe 178 or maybe we consolidate a bit more before creeping up Maybe later in the day tomorrow or in next week's trading session, right? So these are just a couple scenarios But now I still feel comfortable holding FedEx But my day trade of the day today and if you guys are in the discord group chat join the discord If you're not in the discord group chat rather you probably didn't see me call this out But if you are you did see it and if you haven't gotten in there guys The link is the pin comment down below in the comment section. It's 100% free get in there But the Jnug call this morning I ended up capitalizing on it and we can see here guys despite looking at Jnug Jnugs chart. I know it's very ugly looking Let's take a look at the gold futures chart very quickly because this is what Jnug trades based upon right gold And we saw gold took a very very sizable pullback over the past couple of days And now it's holding a higher low on the 180 SMA here on the six month chart And I noticed this this morning when I traded it. I forget exactly where it was I think it was a bit higher than here But anyway, I noticed this morning, you know, it was a falling knife But we were still trending above the previous low at a higher low and above that 180 SMA So I figured this could be a bounce back play here since we've sold off from 1450 down to about where we are now at 1415 and in the morning We were at like 1420 or something like that and we did get that slight bounce You know, we got that slight little run this morning, right? We got the sell-off from 1430 again We were down trending. This was at Eastern Standard Time We down trend into about when the market opened and we've got and what do we get when the market opened guys about like Five ten minutes into it We got this wedge in the gold futures and you guys can see what I'm drawing right now This is a wedge right here, right? And then we broke out of that wedge and this turned into a pretty bullish move where gold ended up rallying for a little bit Up to about 1422 and if we take a look at J-nug, you know Let's go take a look at J-nug once we broke out of that wedge J-nug started to run a bit as well During this time period and this is actually when I caught it It was very quick guys because this morning again We saw gold dumping aggressively and J-nug was dumping very aggressively from 87 down to about 79 dollars So at this point I was kind of scared to catch a falling knife I'm not going to lie to you guys, but once we bottomed that 78 dollars we popped we got hit by the 50 We pulled back we held a higher or low and then once we broke out That's when I started to just build a little position. It was actually before 80 dollars actually it was at about like 79 85 or something like that and then we started to break out and I ended up Selling my position. It was at about like 81 dollars and 30 cents. So from about 79 88 7980 up to where I ended up selling out. It was about like a 1.6 to a 1.8% profit very quick profit on J-nug and this is one honestly guys that if you I feel like if you weren't actively watching it the move was so quick that You probably would have missed it, but since I was watching it and again I called it out in the chat. It was literally on my screen I was able to catch it and I was able to capitalize on J-nug So let me know down below. What did you end up doing today in terms of your trades? What are your upcoming? You know predictions with different stocks ETFs I would love to know and my phone's been actually going crazy about Starbucks. I got it. I got a What's this an alert from Robin Hood? Starbucks announced quarterly earnings of 78 cents per share beating expectations by 8% So let's just jump into that portion of the video talking about stocks and what is we'll just start off with Starbucks guys and oh my Goodness this stock went from 90 dollars up to 96 dollars on that 8% beat or whatever it was Yeah 8% holy crap guys take a look at that. Wow and Starbucks has been one of those companies that has just been uptrending like crazy Really no pullbacks minimal pullbacks to straight uptrending and the stock was $60 a couple of months ago now It's almost a hundred. That's absolutely crazy. So at this point guys Starbucks. It's very overbought If it does open at this level, which it might right if the hype stays, you know It might open at 96 95 if we get the pullback Maybe to the lower 90s and we start to consolidate there Maybe on the 50 SMA at that point This could be a point in time where Starbucks could offer a nice dip and obviously again It's been uptrending and it's been using that 50 SMAs of support over the past couple of months. So honestly, I think that could be a very Possible, you know trade if we do end up pulling back in my opinion. I think it will cool off remember They just reported earnings. This is initial hype. So this might even drop in the next hour or two We just have to wait and see but once it does if it pulls back, right? You know, I think this will be a very good potential entry point another earnings play today was 3m ticker symbol MMM and oh my god, it didn't drop all the way back down I didn't even realize that so now but this one actually gapped up to a hundred and ninety Dollars this morning guys. This is absolutely crazy, right? And I believe their earnings. Let me just double-check it very quick I'm guessing I think no, I think they beat but I forget okay here it is 2.2 EPS versus 2.06 estimate sales at 8.17 billion Beat the 8.03 billion Estimates so very good earnings there in terms of EPS and revenue and at this point guys This might open up a very interesting play tomorrow because it fell $10 from when it peaked pre-market That's pretty crazy right there guys that is pretty crazy and now we're holding it seems like 178 Which was an old resistance as a new support? This could be a gap fill up to 183 tomorrow guys watch this because the earnings were good This is a very exaggerated pullback in my opinion. I can't believe it actually pulled back that much But anyway, that's actually opening up a good opportunity for us traders We can maybe potentially hop into this right so 3m could fill up. I'm watching it, you know on the 184 hour chart It's looking quite Promising at this point. We just need to hold 178 though. That's the key right there if we break 178 That might be bad. We might be going back down a 173 So that's kind of what I'm watching in terms of 3m right now off the top of my head What other stocks were there? Um Crap 3m snapchat. That's another one. Oh and PayPal PayPal. That's the one we need to look at guys So snapchat right now took another jump to $18. It's kind of hovering here at an overbought spot So at this point, I'd like to see snap maybe pull back to low 17s Maybe if it really got down to the 16s guys 1650 that would be a nice spot to be honest if we retested that and held it as a support And if we go to PayPal guys Let's take a look at PayPal. So PayPal at this point. We called it out in yesterday's video nothing much happened It was down 5% today as you guys can see due to their earnings report But one spot that we're still holding above is the 180 SMA here, which is this yellow line So if we are able to potentially curl up here after, you know in tomorrow session Maybe after this week, maybe next week, you know This could be a spot where we could get in a dip if we start to test higher highs Maybe 122 maybe even an all-time high, right? So PayPal at this point. I'm liking the dip But if it does break Significantly down to the low 110s 100s at that point in terms of swing trading not too Interested in my opinion not too attractive if it breaks this key technical spot But it hasn't yet, which is why it's still on my list So those are just a couple that I'm watching guys if the markets continue to get rocky tomorrow I always got my market ETFs on deck here guys. You can see TV IX This is very good when there's volatility in the market It goes up when the markets are selling off and when the VIX the volatility index is green, right? You can see this was up 5% today if we go to the TV IX ETF. It was up around the same about 5% SQQ Q watching this one for potential Nasdaq sell-off This does well when it the Nasdaq is selling off and the SPX ETF does well when the S&P 500 is Selling off. So these are just a couple that I'm watching right now I hope you guys enjoyed this video if you did feel free to go down below and hit that like button leave a comment Let me know how you guys did today What are your thoughts on the market and consider subscribing if you want to see further content for me and hit that Notification bell while you're at it so you're notified every single time that I do make a video and go down below in the description box guys Join our strife smart Facebook group and the discord group chat and follow me on Instagram and Twitter All of those are linked down below. So I'll catch you guys in the next video. I appreciate you all for watching again Peace out What's going on everybody is Stas