 What is going on everybody is Stas here welcome back some other videos so in this video We're gonna be doing an overall market update looking at the Dow Jones the S&P 500 and the Nasdaq We're gonna be talking about one trade that I made today on the 15th of March in 2019 as well as taking a look at some other stocks and ETFs that did very well today and trust me guys There were a lot and we're also gonna be talking about some that I'm planning on trading and looking to trade here over the next couple of weeks in March of 2019 but before we do get into that for everybody out there that finds value in these videos you enjoy the content here on YouTube feel free to go down below and hit that like button guys and if you're new to the community here new to the channel I have two links down below for you to join the discord group as well as the Facebook group and they are 100% free go down below join those guys. I guarantee you you'll find valuable information with all of our group members and there They're all very very helpful. So let's talk about What ended up happening today in the overall markets? We had a pretty pretty solid day here, especially in the middle of the day the SPX hit highs of about 2,830 dollars today We ended up closing the day up about $14 up about half a percent here in terms of the S&P 500 the Dow Jones industrial average today guys up about the same amount up about point five four percent Up nearly a hundred and forty dollars on the day with highs at about 25,900 nearly into the $26,000 level in terms of this index and the NASDAQ composite guys had the best day out of them all Finally in the seventy three hundred dollar level right now up nearly eighty dollars on the day at the close up about 1.08 percent the NASDAQ guys Absolutely on fire and this is mostly because the tech stocks, you know Apple Microsoft They did absolutely amazing today. We're gonna be talking about those in this video But let's hop back to the SPX very quickly to do a quick little, you know technical breakdown here what I'm personally Seeing so for those of you guys that watched yesterday's video We were talking about this level on the SPX at about 28 15 to 28 20 Where we were struggling to get out of that level right? We were talking about that level being a strong resistance And if we were to break out of that level, which we clearly did today hitting about 28 30 This would be a new support level that we would be looking to see if the xpx would hold and therefore Filled to the next resistance which in this case is going to be at around 2870 dollars so take a look at this price action here guys We noticed that over the past couple of weeks. We all know from the beginning of 2019 the SPX has been doing amazing Right at this point. Let's see how much it's up. I guarantee you it's up nearly 20% It's up about 17% from this bottoming out point near the Christmas time of 2018 and we got that dip a couple of days ago and the fact that we held the higher low from the previous Told me that we were continuing the uptrend pattern here in the overall markets and the 500 largest publicly traded US companies, which is the S&P 500 right and we popped up And we were struggling to get above this level here at about 28 15 Which was a resistance from back, you know back in December I believe or was it November we peaked here in November sold off making it a resistance We struggled back towards the end of February twice to get above that level We got rejected and now we struggled again a couple of days back to get above the level But today obviously we popped above that level and finally we're looking to hold it as a new support So for this upcoming week guys if we continue to push green which there is a chance of us doing so I'm gonna be looking for a fill up to about 2870 which would put us up Probably about another 2% to the upside and if we just zoom out really quickly We can see exactly how much more percent we need to get up there roughly about 1.5 percent to get back up there which you know with the way the markets been moving is pretty attainable in my Personal opinion so just keep an eye there if the SPX continues this uptrend We're slowly gonna start to fill to the upside But another possibility that I could see happening here guys is let's say we have another green day Push up a little bit more maybe to the 2830 2840 level and at that point the R side is gonna be overbought And I think if we do get to that level here, you know, maybe even on Monday You know We could potentially start to pull back down to see if we're gonna make another higher low to sell off Right because every time we've seen the SPX in the past couple of months Push up for a couple of days to another higher high, you know We've experienced a little pullback right whether the pullback was 1% like here Let's see how big this pullback was about a 1.7 9% pullback from this higher high to the to the pullback You know this percent pullback was about 3% I believe yep We saw a 3% pullback so I don't think it's too out of you know the odds here I don't think there's you know, not a chance at all really for us to get a pullback Honestly, I think it's very possible for us to get maybe a 2% pullback a 3% pullback down here in terms of the SPX Drop a comment down below. Let me know what you guys think. I know a lot of you guys Probably do agree with me on that aspect and the Dow Jones guys We all know the whole debacle with Boeing and Boeing is one of the Dow 30 companies Which has held the Dow Jones down over the past couple of days while the SPX and the Nasdaq have been doing very well But the key thing here is the Dow Jones Finally broke out of the resistance at about $25,700 right around that area and Above the resistance at the 50 SMA that we were trading under yesterday in the previous couple of days here over the past week Really here in the stock market. So now we're trading on this old resistance Which is now a new support and we're going to see if we can fill up here to the top resistance at about 26,200 that would be the next target price in terms of the Dow Jones Let's say the markets do sell off next week Let's say we see a couple of red days You know, I don't think it's going to be too out of the question that we break this level here We slowly start to trend back down to about 25,400 and if we break this level the next spot I'm going to be looking at is at about 25,000 flat so the Dow Jones right now not as overbought as the SPX and I'm pretty sure as the Nasdaq But we could experience, you know a little bit of a pullback there if the markets do You know end up selling off a bit next week and especially if Boeing ends up selling off more You best believe that the Dow Jones is probably going to sell off, you know or see, you know a slight You know pullback, you know with Boeing selling off more if that does end up happening, right? Of course right now with the whole Boeing situation I personally think there's more downside because this news has obviously not blown over There's a lot a lot of troubles right now with the Boeing, you know the Boeing planes Companies that have Boeing planes, you know people are pulling out, you know, they don't want to fly Boeing planes Some of the flights got shut down So I still see a lot of possible downside in that stock which again could bring down the Dow Jones a bit further So the Nasdaq here it filled perfectly in those levels that we were talking about in the past couple of videos You guys remember what I was talking about in yesterday's video in the previous couple of videos We saw the break above 7,200 and I called out that if we broke 7,200 The next spot we were going to fill too is at about 73 75 And that's literally exactly where we are right now in terms of the Nasdaq if I go to the one day one minute We can see we pretty much got all the way up to that level We almost saw a little double top action here and then we started to sell off We saw a break below the 180 SMA We start to see a little sell off here towards the end of the market But all in all, you know, we're trading in this level the uptrend is still 100% intact But like the SPX guys, we are a bit overbought right now in terms of the Nasdaq But we're doing very well and let's just see for fun How far we are, you know from all-time highs guys We're about 4.5% off from this level at about 7,700 Bucks here in terms of the Nasdaq You know index here and the Dow Jones. Let's just go back and see how far we are from those all-time highs again I'm gonna start doing this every video, you know as we get closer and closer to potentially getting to those all-time highs The Dow Jones is about 3.7% off from all-time highs and the SPX I believe is like 4% something like that, you know 3.96 you might as well call that 4% You know off from the all-time highs here in terms of the SPX the S&P 500 So guys the markets they've been pushing green They've been pushing green But the one thing I want to caution you about here, especially with the SPX because this is what I mostly do my analysis on When looking at the entire market is that every time we've pushed to an a higher high here We've experienced a pullback of about 1.5 to 3% here over the past couple of trading months since the beginning of 2019 so be careful of that guys. Don't just think that we've been having a couple of green days here We're gonna continue to run up to 2870. There's a big possibility that we're gonna experience a 1, 2, 3 Maybe even 4% pullback here, you know in the overall market since they have been doing very well Over the past couple of days But again, there's also a chance here that we continue to push up 2870 But my personal opinion there's about if I were to put an odds on it right now my opinion again do your own research I would say there's about an 80% chance here that on Monday Tuesday or Wednesday of next week We push up a little bit. Let's say we do push up a little bit I think there's an 80% chance that we do experience that pullback that I'm talking about and about a 20% chance that we do end up pushing up another 40 points to this next resistance Which again is about a 1.5% upside move from where we are right now So that's what I'm looking at in terms of the overall markets again. Leave me a comment down below What do you guys think? What's gonna happen here? We're gonna sell off I'll jump down below and I'll speak to you guys and communicate and we'll have a conversation You know, you know on what on what you think and what I think is gonna end up happening here So let's talk about what I ended up trading today And I ended up trading today crude oil or an ETF that trades on crude oil, which is ticker symbol UWT and we called this one out earlier today and we called it out yesterday and really the past couple of days Because crude oil ended up breaking a critical resistance here a couple of days ago above I think it was like 5775 and if we zoom in here, we can see it We can see we were trading in this horizontal pattern and we were calling a breakout a bullish breakout if we were to break 5775 and we got that on the 13th of March We ended up popping up here and we called out yesterday that we were at this level at about nearly $59 and we were talking about I talked about in the video that I wanted to see a pullback in crude oil to get in on a position on UWT if we were to confirm the support here at the old resistance Which we did this morning and we really had a beautiful uptrend for the entire day today on crude oil Which opened up a very nice move on UWT just check it out here guys We pulled back bounced perfectly on the new support Which was an old resistance and we uptrended for most of the day up to about what time is this about? 218 Eastern Standard with about an hour and 40 left in the market And then we pretty much Flatline there for the rest of the day and if we go over to UWT, which again is an inverse ETF that trades based upon crude oil It goes up when crude oil goes up We got the pullback that we wanted from the close yesterday at about $17 down to about 1629 that opened up the margin of profit that we wanted and all we wanted to do my goal on this trade Was to fill up the gap here that was opened right? We see the you know margin that was opened about 4% My goal was to hop in and grasp some of that profit and that's exactly what I ended up doing right I honestly waited to get in until we saw this bullish cross here We ended up seeing the 50 SMA cross above the 180 SMA Which we all know is a bullish signal on any time frame that you're looking at We got that signal here, and that's what I ended up hopping in at about 1665 1667. I believe I hopped in And then I wrote it up about 1.5% you all know that I'm typically taking about one to two percent on my day trades And that's exactly what I ended up doing here on UWT and really it just ended up playing out perfectly a textbook trade here on UWT sometimes the beauty of trading guys sometimes things go Exactly to your plan, which is awesome, right? But other times they don't write other times things go completely opposite to what you were expecting to happen Which is why it's always great to mitigate your risk not trade as much money in your account as you want Really put in a small portion at first if you're willing to risk a small portion Set stop losses and scale into your position These are ways that you can mitigate your risk, especially if you're not really a risk up You know risk taker trader, right? Let's say you're less risk adverse These are ways that you can mitigate your risk stop losses entering in small positions at first Scaling in etc. Etc. So that's what I did in terms of UWT today And honestly guys this one's setting up for a nice trade next week, too Let's say crude oil ends up doing well We end up really breaking or continuing this uptrend up to the next resistance, which is at about 61 dollars at this point That's what I'm going to be waiting for on this next fill to the next resistance. I think that would be an awesome opportunity You know to get into UWT again as a day trade over the next couple of days as crude oil Continues to you know push up here So let's talk about a couple of stocks very quickly and for those of you guys that don't know on Sundays I actually make a video where I'm talking about a bunch of different stocks So I'm going to be talking about a lot more stocks on Sunday's video So if you guys have a recommendation on what you want me to talk about in Sunday's video drop a comment down below And I'll get to the stock. I'll try rather get to get to your stocks You know that you want me to cover or ETF whatever if you leave it down below in the comments section Of course and the call-out section in our discord group chat You guys can also put them there as well. Whatever you guys find easier, please feel free and you know I'll get to whatever you guys want me to talk about so crude oil again That's the first one that I'm watching for next week Of course, this one's been extremely bullish looking very good and another two Semiconductor companies that we were talking about in the group chat today one being in video and the other one being What was it Qualcomm Qualcomm ticker symbol C or not I'm not see q c Oh, and this is one that was brought to my attention today that I actually haven't been tracking for a while All right, Qualcomm. We all know it's a semiconductor company And we're seeing a nice little bullish reversal here on Qualcomm and what I mean by that is we notice over the past couple of months We've been getting slaughtered on Qualcomm in terms of their price, right? We notice from 76 dollars down to about 50 dollars per share That was about a 34 drop in the stock and then we start to see a reversal here We found the bottom at about 49 dollars, which we can clearly see right now We ended up breaking the 50 SMA resistance here We formed a higher low which is a good sign that we're reversing to the upside And we've been riding the 50 SMA as a support rather than getting rejected by it as a resistance over these past couple of months Which again indicates that we're up trending We could potentially be reversing and what really solidified the reverse is this bullish cross We're noticing here at of the 50 SMA crossing above the 180 SMA This is a very very important sign that I look for when potentially swing trading a stock, right? And now we notice that Qualcomm is a bit overbought right the RSI here the relative strength index is showing That we're at about 70 right now with this recent pump that we saw You know over these past I believe it might have been today, right? Yeah, the pump that we saw today It brought us up to that higher high and really made it even more overbought on the longer term charts So what am I what am I going to be waiting for here guys? And we can see it even better here on the 20 day one hour I want to see a pullback any confirmation of the bounce on the 50 SMA For the continuation of the uptrend before taking a position in Qualcomm and further what I'm going to be waiting for once I do take a position if I take a position in qualcomm I'm going to be watching the 180 SMA or the 184 hour chart rather to see if it maintains the pattern here as well Because once we see Let's say we see a break below the 50 SMA That's going to be a break of pattern and at that point I'm not going to be wanting to trade qualcomm or I'm going to be cutting my losses if I'm already in Qualcomm, you know as a swing trade. So that's my two cents, you know on qualcomm It's looking pretty good. And someone pointed out the three year one week chart on the longer You know on the discord group chat This is a longer term chart and what I draw from this guys is that we really held the support at about 50 dollars That's been a support over the past couple of years Which is actually a very good sign if we're judging on a longer term basis here You know the moving averages don't seem to bullish, right? We noticed the 180 SMA It's really just pointing down the 50 SMA is also pointing down So if you want to play it a bit safer here on a potential swing trade, you know Maybe you would want to wait for the break back into the 60 dollar level before even considering Putting money into qualcomm because at that point, you know We're going to be out of these resistance levels like we were back here and back here as well And we could really be pushing up from there on a safer basis if that makes any sense for you guys Right because if you were to jump in right now on a longer term chart, you know This does seem a little bit scary, right? You're not out of the first resistance yet not even out of the second resistance yet And we could potentially get a bearish cross here But if we broke above 60 dollars, that's going to be really bullish The 50 SMA is going to be up pointing up And really that's just going to solidify the bullish cross that we're seeing here And that could be a better opportunity for you to get in So it's all up to you on your risk tolerance what you want to do there And let's just happen to Nvidia very quickly ticker symbol NVDA if we're just judging off this three year one week chart We're seeing a very very positive thing here We're seeing consolidation and a potential reversal to the upside on the 180 SMA Which again is a very good sign And if we're just judging on the 184 hour chart similar to qualcomm guys The stock has gotten beaten down. We found the bottom at about 124 and from there We've been making higher lows pushing up higher highs continuing the uptrend very very nicely Right and today actually we pushed to the higher high at about 174 or 172 ish I believe so right now just judging off of the 184 hour chart, you know We are a bit overbought here and we did see a big pump over the past couple of days I think they had an acquisition Let me just make sure I'm pretty sure they did have an acquisition If we can see it here Yep, this was it Melanox they acquired Melanox I forget for how much money it was But I'm pretty sure that was on the day where the stock pumped up like 10% right We were at $140 per share and then literally we jumped up, you know All the way up to 160 in the matter of a day I believe this was that day they acquired it I forget it was for a couple of billion dollars or something like that I can't remember off the top of my head But now, you know, I want to see a little bit of a pullback here before getting in Or if we break above the 172 resistance hold it as a support I think that could be a potential bullish move to the next resistance at about 185 But as of right now, I'm just waiting to see what ends up happening Right if we break this point, that could be a runner to the upside But if we get rejected here guys and we slowly start to pull back I'm going to be waiting for a bounce on either the 50 SMA as a support level Which would give us a nicer entry in my opinion or the 180 SMA as a support level So that's what I'm watching You know in terms of NVIDIA stock Let's take a look at Microsoft guys because we all know Microsoft hit all-time highs today which is absolutely insane Right it hit about $117.25 per share today Which again is an all-time high And I got some questions on whether or not I think Microsoft's a good swing trade And personally guys, I stay away from companies that are already at their Excuse me already at their all-time highs Do I think Microsoft can go up further? There's definitely a possibility, right? Especially if the markets continue to push You know, Microsoft can very well follow But that's a gamble that I'm not willing to take Right? I feel much better getting in at the dip Than getting in at all-time highs or at the peak of the uptrend Especially when it's overbought Right? You know, I can't really justify me getting in at these levels But I think, do I think it can go up more? Sure, maybe it can get to 118, maybe 119 But I think there's many other places where your money can do better work for you Than in Microsoft stock So for now, I'm just going to be watching Microsoft stock very simply I'm going to be seeing where are we going If we pull back maybe and hold, you know, 110 Maybe on the 50 SMA as a support You know, maybe that could be a better entry We'll see, guys But as of right now, I'm not touching Microsoft You know, not really right now, guys I need to see a pullback But Apple actually ended up playing out exactly as we talked about In Sunday's video last week, right? I uploaded or wasn't Sunday's video I think I talked about it in my three stocks I'm swing trading video Apple did very, very well We talked about it on the break above the 175 resistance For the potential fill up to the next resistance At about 185 It did exactly that An analyst actually upgraded both Apple and Facebook Which is why Apple is doing very well right now It could be a catalyst on why Apple is doing very well Facebook was doing well until we saw yesterday That two executives left I believe the chief product officer left And the dude, the guy that was in the WhatsApp left as well So two big executives left Investors don't really like that They kind of, you know, get scared Like they think what's going on Why are these people leaving? You know, if the stock ended up falling today About $4 per share But that doesn't scare me at all, guys You know, Facebook, the fundamentals are still there And I'm sure they're going to replace those people With very good other executives that are going to take their roles So, you know, that's what I'm looking at, guys Now with Apple, you know, it's a bit overbought So I wouldn't be surprised if we ended up pulling back here a bit Maybe back down to 180 for a bounce on the 50SMA You know, I wouldn't be shocked If that did end up happening, right? If that happened, I would not be shocked, right? So Facebook right now At a key technical level on the 180SMA Here on the 4-hour chart You know, if we break this level You know, I hope we do Because I want to buy more Facebook stock You know, preferably down here You know, in the 140s, 130s But again, let me not get ahead of myself Because I doubt that's going to happen anytime soon Unless some very, very bad news comes out But if we do see this technical break here on Facebook You know, I would wait for a potential hold On 160 as for a potential trade here On the horizontal pattern But if we get a break out of there You know, we could be headed back down to the 150s Who knows, guys? So that's it for today's video I'm going to end it up here I'm going to wrap it up here I hope you guys enjoyed it If you did, feel free to drop a like Leave a comment and subscribe And again, remember Sunday I'm going over a ton of different stocks The video is coming out at about 6.30pm Eastern 7pm Eastern Standard Time around there So if you have any stocks Drop them down below in the comment section Or put them in the call-out section In our Discord group chat And join that Discord group chat, guys If you haven't already It's 100% free The link's down below I'll catch you all in the next video Video coming tomorrow On should you sell your stocks before the recession It's a good video Watch that video I guarantee you'll find value in it Coming out at about 10am Eastern Standard Or 11am Eastern Standard So be on the lookout for that I'll catch you all then Have a great weekend again Thanks for watching Peace out