 What's up everybody it's Stas here welcome back to another video so in this 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 in the markets today as well as some stocks and ETFs that I'm watching right now and looking to trade in the month of October in 2019 you guys UGAZ being one of the top ones that I'm watching right now and we're also going to be breaking that one down in depth in today's video as well as natural gas so if you enjoy this video if you do find value in this video feel free to go down below hit that like button consider subscribing and don't forget to join our StriveSmart Discord group chat and our StriveSmart Facebook group that's how you can be further connected with me and the entire community and all of those links are down below and quick Instagram plug at StasSurface I'm doing a giveaway on my Instagram in a couple of weeks so follow me there as well so without further ado guys let's hop right into it the markets just closed literally two minutes ago the S&P 500 ticker symbol SPX closed up 26 points up 0.9% here and today we got some good news some optimism surrounding the trade war that China is willing to come to a partial agreement here if no additional tariffs are added or something like that there was just some optimism surrounding the trade war and we all know at this point guys when there's optimism around the trade war the market takes that very well the market typically does very well and when there's negative aspects surrounding the trade war more tariffs are slapped we get some news from Trump on Twitter whatever may be negative you know the markets get hit to the downside so today was one of those days that we did get a bit of brief optimism ahead of the meeting here tomorrow Thursday in Washington and that ended up shooting the markets up again 26 points for the S&P up 0.91% and we can see here on the 4-hour chart guys we are holding this overall uptrend of this trend line that I have drawn out here at a higher low so that's a good sign for the bulls out there but on the broad perspective here on the 4-hour we can also see you know despite the trend line being held at a higher low we are also in the process of making lower highs and we are seeing a head and shoulder pattern here on the SPX just like on the Nasdaq and the Dow Jones right and I've been talking about that a lot over these past couple of videos so if you've been following the channel for a while now you know what I'm talking about right if we go to the 1-hour chart you can see we actually closed a bit bearish today although we did have a very good day I'll show you guys that in a minute here on the one day one minute but on the hourly chart you can see lower high was confirmed pretty much here at the dump today towards the end of the day and you can see it's a lower high based from the previous from the previous before that and so forth right and now if we break below the 50 SMA support and we start to push to that lower low and especially if we break below 2900 that's going to be the continuation of the downtrend in my opinion and we may be going back down to 2850 and so forth below that which if we go back to the 4-hour chart you guys can see you know if we get down to 2700 that general area a big level of support is going to be around 2733 so if we go back to that one day one minute you guys can see how we gapped up this morning very nicely after yesterday's abysmal day in the markets right we went from 2892 at the close yesterday all the way up to around 2910 so we gapped up about 20 points we uptrended for the entire day all the way up to around 2930 and then we saw that aggressive dump and that aggressive dump again is what is making this lower high here pretty much confirmed if we fully break below this 50 SMA it will be 100% confirmed but as of now we are seeing that level of weakness right here in terms of the markets but hey if we end up popping out of here tomorrow let's say we end up running above 2950 that's going to be pretty good from the bullish perspective but again from the bearish perspective if we break that 50 SMA that's not going to be looking too good right on the five day five minute you're seeing a bullish cross here but if we get the dump below that's going to be bearish for the S&P 500 right now Jones industrial average today up 180 points up 0.7% on the five day five minute you guys can see that same bullish cross that we saw on the SPX which is the 50 SMA crossing above the 180 SMA we're making higher lows that's a pretty good sign but then again if we're zooming out a bit to the four hour which again it's why it's so important to take a look at multiple time frames you can see that we are struggling a bit despite what that five day chart 10 day chart 20 day chart may tell us we can see here that this is a head and shoulder pattern right the left shoulder the head the right shoulders and formation now sure we held above 26 to today we closed above it which is a very strong level of support but we're still seeing downwards pressure here as we are trending below moving averages both the 180 and the 50 SMA so I think guys especially since we closed pretty weak today you guys can see this if we break the 50 SMA will be technically a lower high you know I think if we end up breaking back down into 26 to level you know down back into the 25s that's going to be bearish that's going to be the Dow pushing to that lower low continuing that downtrend right so some upcoming levels of support here despite this very good green day that we had it's still worth looking at downwards levels that we can get to especially if the trade war you know sees some more tension which I personally think it will well we may be going down 26,000 right that's one level to watch 25 6 that's another one 25 3 right and ultimately if we get all the way down here this would be the completion of the right shoulder especially if we break this level but ultimately this major level of support is around 24,800 dollars so watch that guys watch these upcoming levels right especially as today as things could get rocky here with these trade conversations so going to the NASDAQ here guys up 0.9% right now up 71 points today very very good but you can notice how we're still seeing a right head and shoulder pattern left shoulder head right shoulder if we zoom in a bit you guys can see we're struggling under this level of resistance at around 7700 to around 7700 we closed below that level and we're at a lower high from the previous trending under the 180 SMA as well and now it seems like we're going to be heading below the 50 SMA and hold that level as a resistance the way the market is looking right now so these are not good signs right despite us having a pretty solid green day today and you have to realize guys the markets tanked a lot yesterday so the fact that we are having a bit of a green day today is kind of like almost a rebound to yesterday's craziness we sold off aggressively yesterday at least 1.5% average across the three major indexes and today we got a rebound of around 0.7 to 1% which really we didn't recover all of our losses from yesterday which is why I'm thinking it is a rebound right if we recovered all of our losses from yesterday and some that might be a bit of a different story so if we look at the NQ back to that four hour chart guys again we're seeing a descending pattern here lower highs the next level of support that I may be looking to see NQ go to is going to be around 75 90 we talked about this one we held it a couple of days ago we held it a couple of weeks and months ago back in the summer months of August right or at least summer here in the United States I know it's different for others in Australia but I don't know if anyone's watching this video from Australia but nonetheless if we break 75 90 we go down about 7400 that would be another level of support 72 9 that would be another level of support and if we get all the way down to this level we see a massive sell off in the stock market we get down about 7000 this is going to be the completion of the right shoulder and if we break this level guys which would be very detrimental for all the bulls out there we may be going down even lower right so overall that is what I'm looking at right now in these markets that's the breakdown that's the technicals for today if you guys have anything to add feel free to do it down below in the comments section let me know your thoughts of today's performance of the markets in general trade talks what's going to happen tomorrow the rest of the week I'd love to know what you guys have to think from your point of view so let's talk about you guys and natural gas typically I'd be doing a trading update right now but honestly guys I did no trading today I'm waiting to see if this is setting up for a monstrous red day tomorrow this is what I'm waiting to see right now which is kind of why I didn't trade I'm waiting for my opportunity tomorrow to see if we do end up dumping from this rebound day again we saw a rebound today it wasn't anything crazy we didn't recover our losses from yesterday so I wanted to see if we dump here right on the S&P this is what you're looking at if we dump here you know I'm going to be able to trade TVIX SPXS these are two that do well when the markets are selling off especially the S&P and when there's a lot of volatility in the market so I didn't see any opportunities today I didn't want to hop into a swing trade and get caught in a bull trap so I'm waiting I sat on my cash and I'm looking to get into a potential short in this market if it does end up getting rocky tomorrow so now that we did that really quickly let's transition to you guys and natural gas so you guys right now you guys saw the title of this video should you buy you guys before this pop well first and foremost guys you shouldn't buy any stock any ETF any ETN that you don't understand that you have not done the research on for yourself right that's first and foremost don't buy anything just because I'm talking about it in a video or just because you hear it on the news from Jim Kramer or any of these other news outlets or any other youtube channels right you shouldn't buy anything unless you fully understand it this is just my personal opinion what I'm personally thinking right now so you guys trades based upon natural gas for those of you guys that don't know natural gas slash ng this when it goes up in price you guys goes up in price at a 3x rate it's a 3x leveraged ETN right let's say natural gas goes up 2% you guys is going to be up 6% right that is how that works and we saw a massive rally in natural gas this past couple of weeks starting at the 202 level back in the beginning of august we rallied all the way to 270 and a lot of people were arguing through my research of this that this was a rally that came a bit early right because typically we see natural gas as heating demand starts to ramp up in the winter months as really the cold months start to come through across the united states the midwest northeast this is typically when we do get that rally as the demand for the natural gas goes up and as the price starts to go up right so the fact that we got it here in my opinion was a bit early now we're starting to get the dump now we're starting to see more production more injections of natural gas so that is decreasing the the price you know the supplies going up now we're starting to break through a bunch of these levels of support right we broke 248 we broke 240 we broke 230 and I talked about a couple of videos ago how if we were to break 230 this would be a good play for D gas which is the opposite of you gas which goes up whenever natural gas is going down right so that would have been a good play if you weren't trading that and I'm sure a bunch of you guys did right because now we're filling the gap down to 220 so I think here in the short term right and based on my analysis based on my research I may be completely wrong right but I think here in the short term there is going to be a bit more downside pressure as we start to see more injections as we start to see more production here for the next couple of weeks that's what I personally think two three weeks so that means that natural gas may have a bit more downside here in the next coming weeks maybe down to 220 this is a prominent level of support that we see we held towards the middle towards the end of June we held that level then we rallied from there we got all the way down to 220 or 202 rather which honestly if we break 220 in the short term we may be going down to 210 I don't know if we get back to 202 but that is a level of support that we have to consider right now and in the short term guys again these next two three weeks you know this might have some downwards pressure D gas might do well but then as demand starts to kick in I'm thinking maybe in November or something like that we start to get you know some cold weather across the Midwest across the northeast which I know it's coming I'm from New Jersey we typically get it in November mid November December those time periods right there you know hey maybe natural gas starts to rally from there and we may be able to get some good money by trading you guys which again goes up whenever natural gas goes up so at this point all I'm saying guys is this could be a decent opportunity to take a look at you guys here as things are starting to shake out because if you look at the chart realistically last time we got down to these levels we almost doubled really we went from 10 to 24 in the matter of a couple of weeks and this can definitely happen again again if we get that demand if we get that natural gas rally in these cold months and the fact that we're getting close to that level at $10 where we doubled I think it's just worth watching right now just watching you guys watching natural gas to see how things shake out I personally don't like swing trading these leverage ETFs I don't recommend it if you go on the website you can see that they don't recommend it but let's be honest guys there are people in the community let's just let's just be honest there's people in the community that swing trade this they don't care that you're not supposed to do it they just want to make solid money and honestly at this point I think you could make some pretty solid money but it's very very risky because let's say we do get that run down to $2 on natural gas let's say you buy in here at that point you're going to be down here holding this bag holding it down 20 30% and that's happened to a lot of people which is why it's risky to swing trade this but if you truly believe that there's going to be a natural gas rally here in the next one to two months I wouldn't think it's stupid to start buying a little bit of you guys maybe here maybe a little bit down here that is if you are into swing trading leverage ETFs I personally don't do that maybe I play it in a in a in a funny count that I have a little bit of money in maybe I throw in maybe a couple hundred maybe a thousand dollars that I'm willing to play with maybe I'll do that and maybe I'll document it with you guys here on the YouTube channel but if I'm playing a lot of like a big position like I typically do on my swing trades I'm not looking to swing trade something like this because the risk is just too crazy I'm looking to day trade it but hey if you have that money the play money that you're willing to lose or if you're just risky you're a risky person risky girl risky gal or guy whatever you can swing trade it that's up to you but me personally I'm not but I just figured to just let you guys in on that just my personal opinion and kind of how you can look at this so that's it you guys natural gas just expect not expect a rally I'm not saying there's going to be a rally but just understand that there could be a rally and there's a lot of money to be made and just watch it at you know right now watch the price action keep an eye on these reports tomorrow Thursday every Thursday 10 30 eastern standard time am there's a report that comes out and this affects the price of natural gas and affects you guys and of course degas so that's kind of my two cents those are my thoughts right now I think there's a lot of potential but there's a lot of risk as well just do your own research guys do your under diligence don't buy because I'm thinking about buying in my play account that I'll show you guys on the youtube channel and you know best say guys just some food for thought so let's talk about some other stocks very quickly here I do have two three two or three more that I want to talk about that I'm pulling up here on my phone so let me just pull these up I think one of them was Nvidia let me just pull it up right here Nvidia NVDA so NVDA right now is looking pretty decent right we got a break out of this 178 level and honestly at this point last time we got we got above 178 we filled up to 186 dollars we've actually done this multiple times in the past we did it once about a month ago excuse me and another time back in the March month into the April month of 2019 right we broke above 175 we ran up all the way to around 186 which is roughly the channel that we're in right now so the fact that we held this 50 SMA we also held the 180 SMA here on the four hour we're showing some momentum to the upside here I think this could definitely fill the gap there's potential from 180 to 186 which offers around a 3% margin of profit but let's say we maybe even pull down and retest this level that could maybe give you a better entry point but then again that might not be the best sign if you're looking to trade this as a momentum play for me personally I'd like to get in in the 180s and fill up to 186 on a momentum swing if we get down maybe start testing these levels at that point this can be slowly turning into a bearish pattern right which is something that I wouldn't want to trade but anyway Nvidia is looking pretty decent right now from about 175 to about 185 definitely seeing some potential there Tesla is at a resistance right now that I'm thinking if it breaks there's huge potential for a overall breakout in the stock right if we pull out the support resistance tool very quickly we draw out this level here you guys notice how we're at this level of resistance at around 244 245 that we were getting rejected at multiple times over the past couple of months you guys can see here in the beginning of July we got rejected all throughout the uh what month was this the end actually more towards the middle actually of September all the way to right now literally right now we've been getting rejected by this level so I think if we pop we'll fill the gap up to 260 no problem I think this could definitely happen I think it's worth watching hence why it is on my watch list so another one that I'm watching not too good of a uh technicals here but we are getting a pullback this could be a bit bearish so I'm looking at this as a potential maybe a short play but if we hold the 180 SMA here support this could be a play where maybe we hold 52 fill back up to 55 this is more of a whichever direction type of play that it takes right and by that I mean you know if we end up breaking this 180 SMA this could be a short option right a put option maybe we can go short on the stock but let's say we launch off this 180 SMA and ultimately break the double top this could be a very bullish move that if we zoom out a bit to the one-year chart you guys can see if we break 70 or 55 dollars I've been talking about this for weeks on at v sporadically across these videos we could end up filling up to maybe 61 to 62 dollars so I think this is worth watching this is probably more of a play that's not going to be good in the next couple of days this might take about a week or two to wiggle out to play out but I still think it's worth watching ticker symbol ATV eyes so that's pretty much it for this video guys I don't want to drag it on too long the basis of this video was you guys and natural gas and of course the overall market update so if you guys found value in this video if you did enjoy it feel free to go down below hit that like button consider subscribing if you do want to see further content for me and don't forget to join our discord group chat and our facebook group and follow me on instagram there's going to be a giveaway on the instagram in a couple of weeks here that you want to be a part of so I'll catch you all in the next video thanks again for watching peace out