 Hey everyone, Lilo here from smartoptionseller.com. How's everyone doing today? It's Saturday, September 24th, 2022. Welcome back to another edition of our Saturday synopsis. What do we do here? Well, I'm showing you the charts. Technical analysis is what it's all about. Weekly technical analysis, mostly geared towards beginners. People are just starting out, trying to figure out how to read charts, what charts are all about, and how they can help you possibly get into and out of trades. That's what I've been doing for the last 30 years. I've been watching charts, reading charts, doing technical analysis. And so I make these free videos every week, mostly geared towards the beginners. So I want to help you get up to speed on how to look at charts, how to read charts, and how they can help you become a better trader. So that's what we do. And why does it call the Saturday synopsis? Because it's Saturday, silly. That's what I do on these weekends. So I make these videos. Hopefully they'll be beneficial to you. So let's just jump right in like we always do and start looking at charts and why looking at charts could be beneficial to you, mostly for these beginners out there. And for you veterans who watch week after week, I appreciate it. Thank you for watching. And I'm hoping that these will be helpful to you as well. So what we do is when we look at the charts, we're always looking at either individual stocks or the indexes. The index is meaning the S&P 500, the Dow Jones, or the NASDAQ. Those are the three leading indexes, stock indexes here in the U.S. And then we have individual stocks. So what I do is I run through these charts. I show you what's been happening with the indexes. We look at individual stocks. And we use technical analysis charting methods to see which way stocks and or indexes are moving. And we draw certain lines. We have moving averages and other technical indicators that help me to figure out which way a stock is moving and or getting ready to move in the near future. So what you see on the screen in front of you, and I always show this, and I talk about this because we've got new people watching every week, I look at a daily chart, okay? There's many different timeframes where you can look at charts. You can go all the way down to a one-minute chart, all the way up to monthly charts, okay? But for me, I use daily charts. So what you see here on the screen, and I use eSignal as my charting platform, each one of these lines is one day's worth of trading. And the real estate here goes back two years in time. And you can tweak your screen to see, you know, far back as you want. I have these things on here where I can squeeze it in so I can get a longer timeframe or I can open the charts up a little bit more. So it has less of a look back period, okay? But I usually have about two years worth of time based on the indicators that I have set. Up here, this is where, this is the charts. This is the index, this is the SPY, the exchange traded fund for the S&P 500. And each line is one day's worth of trading, okay? Down here, I have the RSI indicator. This is an overbought, oversold indicator. And it fluctuates between zero and 100. Okay, zero's down here, hundreds up here. And these two horizontal lines are the 80 level and 20 level. Those are the levels that I set that determine whether a stock is overbought or oversold. And you can see it fluctuates in between. You can tweak the 80 and 20 level to whatever you want. And it's a 14 day look back period right here. Up here, you'll see some lines, okay? This is a 200 day moving average. We also have a 20 day moving average here and then this 50 day moving average. Those are the three moving averages that I have on my charts, very popular moving averages. Lots of people look at those as well. And other than that, those are the only indicators that I use on my charts. I, over the 30 years that I've been in this business, those are the three indicators. The three moving averages, all simple, 20 day, 50 day, 200 day, and the RSI down here is pretty much all I need to help me figure out how a stock or index is performing. And now what you'll also see are these darker rectangular type of things, which we just call channels. These are things that are hand drawn. We can remove these. And basically the easiest way to explain how to do technical analysis for beginners is just to see which way the price action is moving. And what's price action? Price action is just where the stock price or index price is moving. That's all it is. So if you wanna get a quick glimpse of this chart, you can say, hey, which way is this chart pattern moving? Well, you can see it's moving upwards, okay? Bottom left to top right, okay? That's a bullish stock or index. Anything that's moving upwards is good if you're bullish. If it's moving down and you're bullish, that's not good. If you're bearish and it's moving down, that's good. It all depends on which direction you're going for. So for me, personally, and in our newsletters that we run, we take bullish trades. We sell put options, we sell put option credit spreads. Those are more bullishly oriented trades. That's what we do with the smart option seller. And that's what I've been doing for the last 30 years, been selling put options. It's my go-to strategy. And for those of you who are new here, you wanna learn a little bit more about put selling, what put option selling is, go to our website, smartoptionseller.com along the top here. Go to the put selling basics tab. This is our free ebook that I wrote. Explains all about put option selling, what it is, why it's such a great strategy and why I love it so much. Fill in your name and email address here. We send you an email back. With a link to read the free report. So get it, download it, read it, learn it, love it. That's what I've been doing for the last 30 years. Okay, so let's go back to the charts here. So what we really do is we figure out which way a stock or index is moving and then we try to guess which way it may be moving in the future. We don't really wanna predict. We wanna sort of let the market tell us where it's going and how do we do that? Because we look at the price action, okay? So one of the easiest things you can do is just draw some trend lines. Trend lines and which way a stock is moving. Now here, when we came out of the, this was the coronavirus pandemic when it first hit in February, March, 2020. And then after that, you can just see the market's just gone straight up after those ensuing months. So what you can do is you can draw some trend lines just to give you a good idea of where the market's going, all right? And it's easy to do. You connect some tops of the movements. You connect some bottoms. And then you got yourself a channel. And most stocks and indexes will continue on in that direction until something really comes along and pushes it in another direction. And what would that be? That could be an earnings announcement, lots of news headlines, especially like what's happening now with the U.S. Federal Reserve and central banks around the world raising interest rates. That tends to depress stock market movements. So we can see what's been happening. In January, 2022, the market's just been in this downtrend, okay? So you can also draw more trend lines, okay? You can see, you can draw trend lines here. You can just see which way the market is moving in general. It's in a downtrend. Now, if you want to do shorter time frames, you can say, okay, well here we had a nice little uptrend too. And then the market started to go down again back into this longer term downtrending channel, okay? So you can draw as many lines as you want. You can see I had that little uptrend here that we just drew. You can also see this inverted V shape right here. This is where the market currently is. So we're gonna talk about what's happening in the market, why it's happening and what we may expect moving forward. Now, like I said, January, 2022, the market started in this downtrend, had some fits and starts, lots of volatility compared to where it had been moving nice and slow up small channel. We've hit a lot of turbulence. You can see the movements are much larger and it started right in January, 2022. Well, we had the Russian invasion of Ukraine which really started it off in February in earnest. We have the US Federal Reserve started raising interest rates because inflation started going up. COVID is still around. We had the supply chain bottlenecks. We had a lot of news headlines that was really detrimental to the stock market. And you can see we've been going down until we hit this bottom here in the middle of June had this nice uptrend. You can, so we drew the uptrending channel and then right here when it came upon the 200-day moving average and it hit the top of the channel here, it just hit that wall of resistance and started moving back down. We also had the Federal Reserve and the US raising interest rates even more just raised it this week and they're pretty aggressive on, they're going to keep rates high to combat inflation and it's really taken the market for a turn here. This week, we had just this huge drop right here. You can see here's what the market did this week right here just straight down. I had drawn this little support line, I think in last week's video, here is the last low in June, market went up, it's coming back down. So I said last week when we were right around here that the market could potentially keep coming lower and possibly gunning for this June low here. So this is yesterday's trading, Friday, September 23rd, big day down, almost came down to the bottom where we were in June. So this is the area to keep an eye on next week. Here's the line in the sand right now around $362 on the SPY, okay? We're looking at the SPY here. So about $362 is the line in the sand for next week. If it blasts through there, you gotta look back further to see where the next level of support could be. And that's probably right in this little section right here, this little W pattern you can see it looks like a W. That was our last support area. So somewhere between 320, 320 to 350 maybe is that next support area. So if it pops down through 362 here, you're gonna see it probably trade somewhere down in here. You always look back in history to see where the next support area could be. If it bounces, which is what I would like to see, we wanna see it head back up towards this top edge of this channel right here. So this down trending blue line, which is part of this channel, we wanna see the market move back up, move back, move back up to get to the down trending and probably come across this line here, which is maybe 390 or so on the SPY. So if the market jumps back up, it'll probably connect somewhere in here. And then maybe it'll drop back down again or maybe a power through. Don't know yet, but that's what we do. We watch the price action. September historically has been a horrible month for the stock market, very bearish month, September. And it's playing out yet again. So maybe once September is over, after next week, maybe the third quarter of the year is usually pretty good, October, November, December. I'm hoping that people will start to realize, okay, we know interest rates are going up. We know inflation is there, but stocks are still stocks. Stocks are actual companies. They're not just numbers on the screen. These are companies that are still producing products. People are still buying these products. They're still being profitable. Companies are being profitable quarter after quarter. For the most part, not every company. So stocks in the long run will go up, okay? Let's look at the monthly chart. Just to look back at history, okay? Stocks will go up in the long run. Doesn't matter what the narrative out there. Doesn't matter what's happening in the news. We'll always have pullbacks. There's always going to be pullbacks. But over the long run, the market will go up. It will go up. So do you have the patience to wait it out? Okay, so here's the daily chart. Now, people who are trying to day trade, will try to trade on much smaller time frame. So here's a one minute chart of the SPY, one minute chart. So each line is one minute's worth of trading. And so people that will try to trade the market on a one minute timeframe, it's really hard. You can get whipped out, you can sell here and buy back here and sell here and buy back here. Before you know it, you've blown up your account. So if you're gonna trade intraday like that, make sure you have some kind of system. I don't do it. I'm more of longer term. I like to let the market play out. Cause on any given day, at any minute of time, the market is completely random. But over the long run, the stock or if a company is profitable over the long run, the stock price has to go up. So I've got a longer term timeframe, but it's whatever you're trying to do. So right now we have this inverted V. Market came down this week pretty hard. And so for next week, we have $362 line in the sand for the S&P 500. Let's look at the NASDAQ. We use the triple Q's for that. You'll see that the pattern looks pretty similar. So for you newcomers out there, beginners, remember you wanna look at which way the market is moving. If it's moving down, trying to get bullish is a hard thing to do. Because an object in motion tends to stay in motion until something comes along and pushes it in another direction. It's the same thing with the stock market. So for right now, the market is moving down. So if you wanna be bullish, you gotta be really careful. Okay, so this looks just like the S&P 500. We have the inverted V here. Now the triple Q's got through this line that I had drawn here. So it is gunning for that mid June low right here. So we can draw another line so we'll know for next week where that support is. Where is that line in the sand? It's right there. And that's roughly around $270 or so on the triple Q's. So keep an eye on that for next week. If it blows through it, once again, you gotta look to the look back period, see where the next support was. And that's probably somewhere around 260 it looks like. So it doesn't have too far to go to hit 260 and then down from there. But like I said, maybe once September's over, it can bounce and start to move back up. Let's look at the Dow. And we use the DIA. Here's the symbol DIA up here. This one has come down. The Dow actually got hit pretty good this week. It has gone below the prior June lows. So let's, we can draw the line here and see what happened. And we can see that the Dow has fallen below that June low. Right here, you can see the bottom of this day right here. This was yesterday, September 23rd fell through it. And so where's the next support for the Dow? It's somewhere, we've had an air pocket here between 280 to 290. So right now we're looking at this area right here between 280 and 290 is probably the next potential landing spot for the Dow. So the market is on the defensive, right? The path of lease resistance now and has been downward since right here the middle of August, hit the top, hit the 200 day moving average. So you have to be more defensive in this situation. In our newsletters, we take bullish trades and we've been extremely light. We've been taking very few positions, mostly this whole year, fewer than we have been since I started running these newsletters because the market is moving down. And there's no reason to step into bullish positions if the market's telling you otherwise. You just, I mean, just looking at the charts gives you an idea of what's happening. And so in one of our newsletters, we have no positions right now. Our other newsletter, we have some positions that we still have some cushion. We did a defensive trade this week. We rolled a trade. So nothing is 100% guaranteed. Nothing's gonna work out all the time, but you have to have a plan. Our plan is to take defensive measures. So the market is going down, you can just see it. And so why stick your neck out there and try to get really bullish when the market's telling you otherwise? You don't wanna fight the market. Let it tell you where it wants to go. And right now it's telling you down is the move. And hopefully we'll get some maybe capitulation, it was when everyone just throws in the towel and you get a huge big one day down move and the RSI goes oversold and then that's when the bottom happens. So we may have to see that capitulation first before we find another bottom. I don't like to see it. It's hard to see the market just drip, drip, drip, drip, drip, keep tripping lower all these months. It's hard to take, but you just gotta be smart and know when it's time to be in and when time to be out. All right, so that's the three indexes right there. Not looking too good for the market, but maybe we're just getting into some two oversold areas, two oversold conditions. September, we got one more week to get through and then hopefully maybe we'll have a bounce. Let's start to look at some individual stocks here. We always tend to look at the more popular stocks because that's what a lot of people like to hear about what they like to see. Now this is Apple. This is a chart of Apple. This is a daily chart again. Now this had the V shape, okay? And you can see now it's sort of getting the inverted V over here, kind of following the rest of the market itself. So here we have the V, the current V, and there's the line of support that I had drawn probably within the last few videos. $150 was this support level. Here it was support back here and here it became resistance for a little while and once the market gets through it, now it becomes support again. So a level can always be support and resistance at different times. So Apple was trading above $150 here. It came down to $150 and it bounced, okay? So until then it's still support until it gets through it. Now it got through $150 here and it came down through it. So now it becomes resistance. So it rallied back up to $150 and it got knocked back down again. Rallied up here, got through $150. So now if it does turn down, it becomes the support, which it is right now. So you can see right here, that's what these lines are sort of magnets at periods of time. So maybe what we're hoping to see is that if everything else could bounce, Apple is gonna bounce off $150 and move higher. If everything starts to go down, Apple's gonna fall through $150 and then it will become resistance again the next time it starts to turn up. So right now Apple is just flirting with that $150 waiting to see what everything else is gonna do. So here's the line in the sand for right now, $150. So gotta keep an eye on that. Tesla. We look at Tesla. We've been talking about Tesla being that $300 level was really the magnet for a while. And you can see here, okay? This is the 50-day moving average right here. And it was holding on it. This was Thursday and then it just fell through it on Friday with the rest of the market. And you can also see these other patterns right here. This is called the congestion pattern. It looks like a triangle where the market or the stock gets into a tight range and then it will blast out in one direction or another either to the upside, to the downside when it gets to the apex. Happened over here a little bit, came down to the downside, went back up. And so Tesla has just sort of been trading around this 300 level for a while. But with the rest of the market, it couldn't hold itself up and it fell yesterday. Tesla always seems to be in a permeable type of environment. People love Tesla, they keep it propped up. So it's, you can see though, it really hasn't gone that much since early 2021. It's sort of been in this range here. But with the rest of the market, if the market gets moving again, Tesla is gonna start to make new highs at some point. Let's look at Amazon. Amazon coming down had been in the channel, but now it's starting to fall through the bottom edge of the downtrending channel. It's probably gunning for this, just above $100 a share, this support level. It came down a number of times. So this is the line in the sand for right now. This level right here, just above 100. Will Amazon come down and test it again? It's possible, it's possible the way things are moving. So keep an eye on that level for Amazon. Once again, this is Amazon, here's the symbol here. Let's look at some other stocks, some big names. We can look at Google. Google, you can see it has fallen below its last support. This was towards the end of May. So we can draw a line just to see where the support was. You always have to look back to see where that last support was and Google has fallen below it, below $100 a share. Last time Google was below $100 a share was back in very early 2021, which is back here. So where's the next level of support? It's somewhere between 90 and 100 right now. This is where that last action was in January 2021 between 90 and 100. So it'll probably stay in this range based on where the rest of the market is going. The market comes down, Google's gonna head towards 90 and then maybe churn around here, get through September and then hopefully it'll start to turn back up. But for now, the market is telling you, stocks are telling you, the path of lease resistance is lower. So do you aggressively buy? Not yet because the market's still telling you it wants to go down. But there are ways, of course, obviously to play the downside. You can certainly sell short stocks. You can buy put options. You can buy put options spreads. You can sell bear call spreads. I don't like selling naked calls, even selling naked short shares of stock because if it turns around and runs on you, you'll be in a world of hurt. So my advice is that if you're gonna play the downside, do it with some spreads, limited risk spreads, option spreads I'm talking about buying. You can buy put options. You can buy put spreads or you can sell call spreads. Don't sell naked call options, extremely risky. Be careful if you're doing that. You can sell covered calls. If you own shares of stock, you gotta sell covered calls. You gotta bring in some income. That's a huge, it's huge for you to bring in income by selling covered calls. So if you have stocks and you're just sitting there in your account, look into selling covered calls. You'll bring in some income. That's a great way to pad your account when stocks are falling. All right, so once again, path of lease resistance is lower. Be careful if you're thinking you wanna buy here. Just look at the way the price action is, all right? So this is Google, what else do we have? We wanna look at Walmart, one of my favorites, okay? Now Walmart had been, you can see, and this channel for a long time had the congestion pattern here. We had another, this is an up ascending triangle where you see the markets moving up, but it has this flat area where it's been hard to get through and then it finally blasts through. But then stocks ebb and flow. And now here, Walmart's been in this uptrend, but just yesterday, Friday, September 23rd, it fell through. It hairs the 50-day moving average as well, fell through that. So things are weak right now. Stocks are just, they wanna go down. And they're all moving on these headlines of rising interest rates. Why are interest rates bad for the stock market? Because as interest rates rise, that means you can get a better return on your money with fixed income securities. Those are CDs, treasuries, bonds, whatever you invest in fixed income, you're gonna get a better rate of return. And it's guaranteed money. If you hold it until the maturity date. So if you can get a better return on your money, guaranteed, where stock markets, there's no guarantee that you're going to make money. People will pull their money out of the stock market and put it into fixed income securities. So now the stock market has some competition for returns. For the longest time, all fixed income securities were paying next to nothing. So people had to invest in the stock market if they wanted to try to get any kind of return. Now these fixed income securities have higher rates and people think, I'm gonna put my money and get some guaranteed return. So they pull their money out of stocks. I mean, in theory, that's how it works. Also companies that, newer companies that are starting up or companies that need to borrow more money to run their business, now they're going to have to start paying higher interest rates, higher payments because interest rates are rising, which means their ultimate profits in the company are gonna come down each quarter. So people are thinking, okay, well I'm gonna take my money out of these stocks because they have to borrow a lot and pay higher interest rates. That means their profits are gonna go down. I might as well just stick my money into fixed income securities and pull it out of the stock market. So in theory, that's how it works. Okay, at least for right now. But over time, when companies adjust to these higher interest rates, when companies adjust to these supply chain snags and they have to raise prices for their products, over time they figure out how to deal with that and they stay profitable. So eventually the stock price has to move up again. That's how it works, okay? So for right now, rising interest rates are not too friendly to the stock market. But in the long run, even if we have rising rates, the stock market will still go up in the long run, okay? So Walmart, you know, it's falling through the lower edge of the channel here. Gotta keep an eye on it. And September is done. Maybe hopefully it'll turn around and start moving up again. Let's go through our list here. Trying to see if there's anything really notable that we wanna look at. Microsoft falling back down into the channel. Popped up above it, but here it had the 200-day moving average lurking above, so it got knocked back down. So it's, once again, it's within the channel here. Intel, now these chip stocks have been, computer chip stocks have been getting hit pretty hard. This is Intel. Here's the symbol up here, Intel. Just been moving down. Let's look at the monthly to see where it is. So the monthly, you know, for a while Intel was the only game in town as far as chip stocks. And then AMD and Nvidia and Micron came along. So Intel, in the last year, just has really taken this nosedive and it's falling below the two, this is the 200-month moving average right here. And just, you know, not a big fan of Intel anymore. I'm a fan of AMD, although AMD has come down quite a bit as well, but we look at the daily. It's pretty ugly, you know, AMD in the downtrending channel. We had some position in AMD that we got out of in our newsletter because the market was just telling us it's going down. It's time to get out. So we got out of the trade and we're glad we did because the loss would have been much bigger this week. So, you know, there's no guarantees. Not all trades are going to work out. Watch the price action. If the price action is telling you it's going down, you get out of those bullish positions. That's just what you do. That's how you preserve your capital over time. And we got out and AMD's still falling. So chip stocks are, here's Nvidia. Chip stocks are moving down. Just, Nvidia has fallen now through this long support that line that I had drawn. I'm not sure when I drew that, but we were waiting for that support. It's falling below it right here. You can see it. Micron, same thing. Look at it, it's just here. Now it's just starting to fall off a cliff right here. So everything's moving down. A lot of things are moving down. Are there any things that are moving up? Well, I noticed this week, General Mills and Kellogg's. These are the, you know, food companies. Look at this nice chart. Moving up, moving up, moving up, moving up. Had earnings this week, popped higher. Is this an all time new high for General Mills? Let's take a quick look. Yep. So some stocks are moving up. General Mills, all time new high this week. About $80 a share. Some companies are bucking the trend. Kellogg, here's Kellogg. Let me just show you the symbol for General Mills. GIS, here's Kellogg. Symbol is K. Kellogg, you know, moving up too. So there are some companies that are bucking the trend. I show these other companies. This is ConEd, Consolidated Edison. ED is the symbol. This is a utility company in the northeast of the United States. If you live in New York, you know ConEd. That's your utility provider. Moving up. So there are some companies that are moving up. Utility companies seem to do well in rising interest rate environments. Another company to look at from time to time is Southern Company, SO, moving up as well. So you have to look at the charts, have to look at the company, see what sector they're in and see how they're doing. Let's just go through the list. Oracle, getting beat down. I'm gonna keep an eye on this one too because eventually some stocks get just too cheap. Some really quality companies get too cheap that you have to not maybe nibble a little bit. Oracle, one of those as well. We have a play on Cisco, not Casco, Cisco. Here's a Cisco systems right here. We had a roll of trade this week. We sold some puts on Cisco and it's still moving down. So we rolled the trade down. When you sell put options, the ultimately you could end up buying the stock. And if it's a quality stock that you like, then it's okay because you'll buy it and hold it for the long run and it'll eventually move back up for you. But for now, we roll down so we can get it at potentially an even cheaper price. But everything's still moving down. Cisco, Oracle, I mean, these are great companies. Let's look at Disney. We look at Stallwarts, Disney moving down. Here is the last low for Disney, right around $90. It looks like it might be coming down again to that just popped through a hundred downwards this week. Disney's so moving down. Just look at the price action, moving down. Nike, another Stallwart company. Just looks really ugly, okay? Here's the symbol for Nike up here on top left. Just, you know, moving down. Just like the rest of the market. Let's look at the monthly for, let's look at the monthly for Nike, okay? It's coming down just like everything else. It's falling through the 20-month moving average, falling through the 50-month moving average. Here's the 200-month moving average. Where's support? It's hard to tell if you're looking back monthly, but somewhere here in this next range between $80 and $100. But right now, it's still moving down. Do you wanna stick your neck out and go all in? I wouldn't do that because the market's still telling you wants to go down. But eventually, these great quality companies are gonna find a bottom. Netflix, just hugging on to that support right here. Let's open it up a little bit more. Here's the support line right around 220. So it's holding, it's holding pretty good. If it can hold, it'll bounce good. When the rest of the market goes, Netflix should bounce pretty hard, but it still has a long way to go to close these other gaps here. But for now 220, keep an eye on that level for Netflix. What else do we have? Procter & Gamble, another product company where they make products that we buy all the time. But this one's sort of going down as well. So we have the healthcare stocks, Eli Lilly, hanging in there, Bristol Myers. We had a trade on Bristol that we cashed in on, which was good. Pfizer and Merck, they're kind of holding their own. We have a position on Glaxo, Smith Climb. That one's still going down, but look how oversold it is right here. It's gonna bounce, it's gonna bounce. But Glaxo hasn't been below, it finally got below $30. It hasn't been below $30 since 2009, early 2009. And below that, you have to go back to the mid 1990s, anything below 25. So we think Glaxo is getting very oversold here. Not a recommendation, but just saying, these are the things I'm looking at. McDonald's sort of been holding up okay, had a pretty rough week here, fell through the 200 day moving average here. Pepsi, maybe look a little bit stronger. You wanna look for these strong dividend paying companies, dividend aristocrats we call them. They've been raising their dividends for 25 years straight, Pepsi being one of them. So you can see generally, Pepsi's been moving higher over the long run. Been bucking the trend, trying to find some support at the 200 day moving average here. It has fallen below it a couple of times and bounced back. So will it find support here? We hope so, yet to be seen, but it has a history of finding support below the 200 day and then moving up again. So just follow the price action. Verizon, I talk about Verizon each week, still going down. AT&T, still going down. This is AT&T, symbol is T. We can look at the monthly for AT&T, getting ready to possibly take out those lows, longstanding lows around $15 a share. You do your look back all the way back to the mid 1990s. $15 was the level. Will it hold again? Long-term hold level, $15 on AT&T. Keep an eye on that area. What else we have? Costco got hit kind of hard yesterday, had earnings come out, but here's a big day right here. Closed near the lows. Costco, great company, great company getting hit right now. Eventually it'll find some support and move back again, but for right now, markets just selling everything, even the good stocks. Here's your Warren Buffett. We talk about Warren Buffett, his Berkshire Class B shares. These are the cheaper ones. The Class A shares are just way too expensive for the normal person to afford. Stick to the Class B shares trading around $267, coming on that support right here. Draw your line, draw your trend line from the last low just to give you an idea of what the next line in the sand is right around here. Let me try to get a straighter line right there. So it's close. You can see it's really close. Will it fall through or will it pop up? If you're thinking about playing Warren Buffett shares, I also have another e-book that I wrote, a report that I wrote. You go to our Services tab here and you click on the Shop tab and it'll bring up the report, the secret to buying Warren Buffett for pennies on the dollar. It's another options trading strategy that I write about. You can see if you're interested in looking at that. Also in our Services tab, here's our two newsletters, Smart, Option, Sell, and Vertical Spread Trader. Both Put, Selling, and Put, Option, Spread, Selling newsletters. And we also have our one-on-one coaching. If you wanna get a handle on how to trade options, what options are, you know, get yourself to that next level. Consider clicking on our coaching details and you can see what it's all about. All right, let's go back to the charts and wrap this up here. Anything else? Twitter, we don't talk about Twitter too much because there's just too much happening. Elon Musk, who knows what's gonna happen with Twitter? Facebook here falling once again, had the channel falling through that Facebook coming down. Let's look at the monthly, line in the sand here is right around $140. The last time it got there was in, you know, right around, this was the pandemic right here. This line, this section right here. So will it fall through that? The next line would be this last support right here around and somewhere in 2018. So Facebook, I'm not a, you know, I don't really have much to do with Facebook. IBM and the rest of these Clorox, hanging in sort of Colgate, sort of pretty sideways, Coca-Cola we looked at. Oh no, Coke we didn't look at yet. Let's look at Coca-Cola. Another stalwart had the, you can see the congestion pattern that I drew here and now it's falling through. It's falling through the 200 month, 200 day, I'm sorry. It's falling through all the moving averages. So Coke getting pretty weak here, but Coke is such a stalwart of a company that it could be worth a, could be worth a shot pretty soon. Could be worth a shot pretty soon. Great dividend paying company. It's getting, getting sort of oversold areas. But this is a big move below the 200 day moving average for Coke. I'd like to see it bounce here and start to move up. Otherwise, what's our, what's our look back? Monthly chart. Okay, the next line in the sand, right here's the 20 month moving average, this blue line. So it's falling right on that. Right here, you can see the support. If it falls through, then it goes to the 50 month moving average here, right around $53. So use your look back period, user moving averages is other areas of support and here's the 200 day, 200 month, I'm sorry, right around $39.25. So could be getting Coke at a bargain here. You know, it's been holding $58 going back to December, last December. If it falls through that, then you have this area to look at. Low 50s. So, all right, that's it. Let's look at the SPY one more time. Wrap it up here. See our game plan for next week. SPY sitting right on that support, right in the low 360s. Once again, keep this line in the sand, you know, on your charts, see what happens. Like to see a bounce here. You know, everything's, I mean, everything's been coming off. We got a bounce at some point, but what will it hold right at 362 yet to be seen? That's what I'll be looking for next week. All right, that's all for me today. I hope this has been helpful for you newcomers. You know, there's a lot to learn about technical analysis. This is just some beginning stuff you can learn. Other videos you can watch, books you can read, but I do these for free, hoping to give you some information. If you like it, give me a thumbs up, leave me a comment. I always answer your comments, send me an email. If you're interested in our services, go to our website, take a look at some of those. All right, this has been good. I hope everyone has a great weekend and a great trading week ahead, and I will try to see you all here next Saturday. This is Lee Lowell signing off.