 What is going on everybody is Stas here welcome back to another video So in this video, we're going to be doing an overall market update looking at the Dow Jones the S&P 500 and the NASDAQ we're going to be talking about two trades that I made today on the 11th of February in 2019 as well as taking a look at some other stocks and ETFs some other ticker symbols that I find interesting and that I'm watching for The rest of this week and for the rest of this month So before we do get into the content today guys for all of you out there that do enjoy the channel that do find value in These videos feel free to hit that like button It really does help the channel grow and I really do appreciate every single one of you guys out there that are watching these videos That are subscribing that are watching religiously and of course hitting that like button It really does mean a lot to me. So let's talk about what happened today in the overall stock market Well today guys, it was a pretty boring day in terms of the overall indices We see here the SPX the S&P 500 the largest 500 companies in the United States publicly traded companies was up only a dollar 92 cents today at the close up around 0.07% not much movement at all We'll take a look at some time frames in a couple of minutes on the SPX But let's take a look at the Dow Jones on the day closed down about $53 down around 0.2% So a bigger downwards moved there in terms of the Dow Jones versus the SPX The NASDAQ composite today guys down around six dollars and fifty cents down around 0.09% I called out a head and shoulder pattern in the NASDAQ early on this morning in the discord group chat And you know it pretty much held that whole pattern throughout the entire day and for those of you guys that don't know a head and shoulder pattern Very quickly is what we see right here, right? We can see this is the right the left shoulder This is the head and this is the right shoulder forming So where we can go from here guys is potentially down right potentially down that is where this pattern is, you know You know looking like it's headed, but we'll talk about that in a couple of minutes as well But let's hop right back to the SPX the S&P 500 index So for all you out there that don't recall in yesterday's video and the video on Friday We were talking about this channel that the SPX is trading in right here Pretty much drawn out by these trend lines right over these past 20 days really over the past You know 30 days 90 days. We've been not 90 days about 30 40 days now. We've been up trending We've been seeing some straight-up green bullish run here from the end of December in 2018, right? And pretty much from around let's say the 10th of January We've been trading in this particular channel drawn out by the trend lines We can see this is the support level of the channel We can see it's held above there once twice three times four times five times and it held above there today And this is the resistance of the channel, right? We can see it bounced Got rejected on the 18th of January at the top here at around 26 75 And we topped off there last week on the 5th of February at around 2738 so as of right now guys the fact that we did have you know a flat day on the SPX this is a pretty good sign that the uptrend is still intact and let me tell you guys why so what do we see here is We see that today. We held the resistance from yesterday or not yesterday Friday or not Friday Yes Friday and Thursday. We held their resistances as new support levels And let me explain this very quickly on the 7th here of February, right? This was on Thursday. We topped off at around 2705, you know later on in the day then the next day on Friday We went all the way back to 2705 making that the resistance over the previous two days and the fact that we held those Resistances as new support levels today. That is a good sign That we're a moving up making higher lows on the mini charts here on the small-term charts here and B We're holding that you know 180 or rather the 50 SMA or not 50 SMA The channel support on this 20-day one-hour chart, right? We're holding the uptrend still and we can see here guys on this 20-day chart We can see it a bit better, you know the fact that we're making higher lows here the low here at about 2705 Which was today previous low at around 2687, right? Which was on Friday. This is a good sign that we're slowly climbing up So what do you want to wait for and see for tomorrow for the continuation of this uptrend? Well, we want to see a break above this 50 SMA here, which is clearly a resistance So right now we're pretty much trading between This support level that we just talked about and this resistance at around 2715 So we have about a five five to ten point gap right now in the SPX that we were trading today So tomorrow we're gonna go two ways either two ways We're gonna go tomorrow the first way being above here Which is gonna be the break of the resistance the continuation of the uptrend, right? But if we break below right if we break the support here and we get back into the $2,600 range tomorrow, let's say we have a red day What that is telling me is that we're slowly going to be down trending with lower highs, right? Because of the high at 2738 previous higher at around 2716 We could see a high around here at around 2709 and if we keep going down guys That's gonna be lower highs which dictates a down trending pattern. So tomorrow is gonna be an interesting day to see You know where we're pushing here on the SPX But as of right now guys, but I'm recording this video We are still up trending in terms of the SPX So taking a look at the Dow Jones guys like we said we saw a red day today Which makes the technicals on this index look a little bit different than the ones we just saw in the SPX But just like the SPX I talked about this one in yesterday's video and on Friday's video We were talking about this channel that it was trading in between these two red trend lines, right? Just like the SPX we've been up trending since around the 26th of December in 2018 in the Dow Jones as well Right and over these past 20 days. We've been trading in this channel We can see the support where we bounce there there there there on four separate occasions But where I'm saying here why I'm saying rather it's looking a bit different than the SPX is because We can see a slow formation here of a head and shoulders pattern Just like the Nasdaq here in the Dow Jones, right? We can see the left shoulder the head and the right shoulder Slowly start forming and the fact that we did have a red day today and these and these candlesticks are pointing down Really makes it look more bearish in general because not only is it a head and shoulder It's also making lower highs here, right? The high at 25 40 the second low at about or the second higher lower high at around 25 to 59 the third one at around 25 175 And it looks like we got the fourth one today at around 25 137 so unlike the SPX guys, you know We do see a bit of a head and shoulder pattern more in process or more in progress rather than the SPX here on the Dow Jones, right because we got that dip but Tomorrow the SPX can also be in a head and shoulder pattern if we break this support That we talked about a couple of minutes ago, right? Let's say tomorrow We break below here. That's going to be a head and shoulder pattern for the SPX as well But we need to wait for that break of the support, right? So the Dow already looks like it's forming that head and shoulder pattern with the red day that we had today We're slowly breaking that trend line right now to the downside So this could be the start of more selling off tomorrow You know in terms of the Dow Jones based off the technicals that I'm seeing right now So judging on the Dow Jones guys, it does seem like we are breaking to the downside But another thing I want to point you guys to on this longer-term chart It does point to us having more potential bullish, you know upside in the Dow Jones Due to the 50 SMA breaking above the 180 SMA here, which we talked about in pretty much every video You know that being a very bullish sign. So keep an eye on that guys, you know It really could go either way right now, you know judging off the longer term technicals and the shorter term technicals But you know if we do see that break guys, I'm pretty sure I'm pretty positive You know, we're gonna see some more downside if we do end up breaking more into the $24,000 range You know, that's gonna be a good pretty much sell-off trigger in my personal opinion that might trigger You know some more sell-off in terms of the the Dow Jones here and just like you know The Dow Jones guys the NASDAQ is looking like it's forming that head and shoulder pattern as well Although this one out of the three this one in the SPX is still technically They're still technically in that uptrend because unlike the Dow We aren't really seeing a break below the support trend line here on the 20-day chart, right? We're pretty much still holding that 50 SMA is a support here We're still holding a higher low from the previous where it did bounce on the support of the trend line So, you know the continuation of the uptrend is still looking pretty solid right now But another thing I want to point you guys to on this 20-day one-hour chart is this cross of the 50 SMA below the 180 SMA which is a bear sign Unlike what we just saw on the Dow, which is a bullish sign, right? You can use this both ways right to Really figure out, you know where we could be headed in the short term and the long term either down or up, right? This is a very good way of you know signaling bullish or bearish You know sentiment and signs in terms of stocks through price action, right? So, you know tomorrow guys keep an eye on this support You know if we break this and start pushing down and completing this head and shoulder You know that's gonna be a good sign that we could potentially be selling off more in terms of the Nasdaq, right? So here on the 180 four-hour chart We can honestly see the head and shoulder even better right even more clear on this chart and again We can see that we're still trending, you know in this You know channel here So keep an eye on the support of this channel Are we gonna break to the downside or are we gonna continue to the upside and of course the tech sector guys? Tech stocks do have a pretty heavy weight on the Nasdaq So let's say tomorrow when Apple if Apple or Facebook do very well if they bounce back strong since they didn't have a good day today You know we could see a big push up to the upside in terms of the Nasdaq So now that we got a brief little analysis of what's going on in the overall markets My personal opinion some key signs some key technical indicators Voice cracks and key technical indicators that we you know pointed out. Let's talk about what I ended up trading today So what I ended up trading today was? UWT and Tesla guys, I'm actually in an overnight swing trade in Tesla We're gonna talk about that in a couple of minutes But first I took a day trade today in UWT After we saw a very big sell-off today in crude oil and for those of you guys that don't know crude oil is You know a future this what we're seeing right here slash cl light sweet crude oil futures These are futures that UWT and DWT trade based upon meaning whenever crude oil is going up in price UWT is going up in price as well, right? And whenever DWT is going up in price that means crude oil is going down in price So today you honestly could have played both sides of the spectrum, right? You could have played the sell-off here in crude oil from about four fifty two dollars down to around fifty one twenty, right? Which of DWT if we look at that chart did very well this morning, right? We can see the pre-market push from around, you know, nine ninety ten dollars all the way up to ten seventy three That's a very very big move. And of course we could have played the opposite on the downside Which is what I personally ended up doing playing UWT and to be quite honest with you guys I missed the the opportunity here in terms of DWT on this sell-off So what I wanted to see today is I wanted to see if we were going to fill the gap back to the upside For a potential day trade in UWT because typically guys not always But when these futures fall a drastic amount in a short period of time There's always an opportunity for them to build some momentum back to the upside to build that RSI back a little bit for people to Slowly start buying back in to push the price back up, right? Because you know we've seen charts that sell off very quickly and they don't seem like they're coming back up, right? But a lot of the time they sell off a ton, right? They find a bottom and then they show some pushback to the upside so my idea lot my you know idea What's the word? I'm trying to use my Ideology behind this trade was to get in on the upside in UWT And what do we see here guys, which is a huge sign of a bullish reversal? We see a double bottom here guys a double bottom is what we see Which really issues a potential reversal to the upside for a stock ETF future, you know Indici whatever right so we see that in crude oil the first bottom at around 950 the second one at about 1120 and then we start to climb back up and this is when I ended up trading UWT for a gain, right? Not only did I see the double bottom here, which is a good reversal to the upside But we also saw the EMA break above the 50 SMA We saw the candlesticks break above the 50 SMA quite quickly honestly And then we started to break above the 180 SMA So I started to build a little position here, you know in UWT at around this time period We can see this double top or double bottom rather as well and right around here guys I ended up slowly getting in I believe I put my first order in at around 1205 Ended up adding a little bit more money. This was a longer term day trade today Typically my trades with day trading are more scalp trades very quick, you know a couple minute trades But this one actually stemmed over about an hour, right? So I got in here initially 1205 ended up getting in a little bit later on at around 1220 So my average position was around like 12 I believe like 1212 or something right now at this particular time period and then I ended up setting a Once I started to get in the profit I set a trailing stop loss Which is very important when you're already in the profit right to keep those profits if the stock ETF ends up Falling down because if you don't have a trailing stop loss and let's say you're up around Let's say a hundred dollars on your position and then it quickly turns to the downside You can lose all that money if you don't have let's say a 1% or a point 5% You know trailing stop loss when you're already up one two percent on your position, right? So I ended up making a trailing stop loss, right as I was getting into the green here Then ended up just selling off my position, you know up around two to two I think it was like 2.3 percent. So you guys know that you know, I'm mostly a conservative trader I'm cool with you know two three percent, you know on any particular day on any particular trade, right? I ended up getting out right here and you know two percent may not seem a lot to a lot of people out there But I personally like trading with a you know a smaller conservative strategy Where I can consistently profit and not always chase those home run trades where yeah, you can make a ton of money Right, but you can also lose money right last year or two years ago at this point I lost about two thousand dollars, you know chasing an overnight trade on drip, right? I talked about this in a video if you guys want to watch that video I believe it's called my biggest trading mistake or something like that Just type in mistake in the channel the word mistake and you'll probably find that video But I pretty much talked about that where I ended up blowing, you know 40% 50% of my position I lost like two thousand dollars This was about a year and a half two years ago from now and you know ever since then guys that really taught me a strong lesson and you know I've been really just playing it very conservative and I have tight rules on myself where I never hold You know these three X leverage ETFs overnight ever, right? I never ever ever hold these overnight but pretty much guys that is the gist of this Trade here and UWT and now let's talk about my little position that I built in Tesla today guys So Tesla is another one that we talked about in yesterday's video and This one guys ended up doing exactly what I wanted it to do right? We were talking about it in yesterday's video on Sunday The stock was at around 305 and we were talking about it 300 305 dollars It was right here exactly at 305 and what I was saying guys in that Excuse me in that video is I wanted to see Tesla break into the 315 or really the 310 the 315 level for the Continuation of the uptrend and for me to add a position in it and that's exactly what we ended up seeing today So if we take a look at this 20-day chart a bit closer We I wanted to see the bounce on this support level of the trend line Before hopping in we see the bounce today Which is a very good sign of the continuation of the uptrend and that is why I ended up adding in money into Tesla stock today And let me tell let me tell you guys exactly where I ended up adding this money So I didn't add it on this initial pump up We saw it pump up the nearly 320 which is a very good sign guys a very good sign that it's continuing to push up Continuing to uptrend and the good thing I liked about this is that we ended up pulling back to around 310 at the close and we ended up holding the support from the morning Right, so I ended up taking a little position a couple of shares here Towards the end of the day and I'm planning on swinging these as long as this uptrend as this uptrend stays intact Right, so my target right now guys on Tesla. Let's say tomorrow You know we end up bouncing here on the support and pushing up even more potentially breaking 320 That's ideally what I want to see You know, I'm gonna be adding more money into Tesla once we break out of there So right now I'm in at around $300 and third I'm in like 313 314 range and again Like I said do plan on adding more money once we break or if we break out of this 315 318 Resistance and ultimately guys. Let's say we do bounce here That's gonna be the continuation of the uptrend because that would be a higher low from the previous Which is a higher low from the previous and really the trend's gonna look something like this if we do end up bouncing and pushing up Here, which is what I ideally want for this trade so right now my first limit cell is at around 323 actually at about 322 just a little bit under on this previous resistance, right? So the plan right now is to get in or I'm already in at 313 But to add a little bit more money tomorrow if it continues to uptrend then end up selling at around 323 Which you know, let's say my average cost is at around 316. It won't give me the biggest gain, right? It's not the biggest gain ever, but it's around a two three percent Swing trade and of course if we plow through that resistance, I'm gonna be holding those shares a bit longer You know waiting to see if they do end up filling that gap maybe to 330 maybe to 335 so drop a comment down below guys if you're still watching this video. What did you end up trading today? I'm in Tesla and I personally traded UWT today so last time I traded Tesla I actually took a little loss so let's hope this time the trade ends up working well and another thing I want to see guys now that we pulled up this 180 chart very quickly that I almost forgot to mention is I want to see a Break out of this 180 SMA on this You know 180 chart here, which would be a good sign that we're continuing to uptrend But you know pretty much guys. That's what I ended up trading today Let me know down below what you traded So let's take a look at the weed stocks very quickly because we do see some of these reporting earnings this week So let's take a look at some of these technicals very quickly We do see here Kronos ticker symbol Cron CRON one of the hottest marijuana stocks out there This one does seem to be forming the head and shoulders pattern that we talked about yesterday, right? We talked about this yesterday. It's kind of like a deformed head and shoulders a little bit here the left shoulder the head right Here's the right shoulder, but with them having earnings this week guys Who knows what can happen right? Kron could literally shoot back up to $25 in the matter of one day I honestly would not be surprised if this shot up $5. Am I saying that's gonna happen? Absolutely not, right? There's a very very very slim chance that that does happen, right? But with the marijuana stocks the way they've been moving I'm just saying, you know, I wouldn't be surprised if we moved 10 15 20 percent back to the upside or you know If we sold off down to 15 16 17 dollars in terms of cron. I also would not be surprised as well So cron guys keeping an eye on this one as a potential earnings play either to the upside or the downside, but I'm personally waiting till after Earnings I don't trade and hold stocks really before their earnings report I mostly wait and see the reaction afterwards and try to grab some of that action Afterwards so cron guys. That's what it's looking like CGC Very strong sell-off here guys. We're trying to hold above that support here at around 42 dollars but if we break that expect way more downside here in terms of CGC and Also keep an eye on this potential 180 SMA support at around 38 40 dollars That could be a potential bounce spot for CGC But as of right now, you know, if we do end up holding this support here guys And we slowly start to fill the gap back up to let's say 45 46 dollars, which was a previous resistance You know that could offer around six percent profit in terms of CGC So n-beb today guys down around 2% down around 14 cents is still holding that 180 SMA support Which is a good sign But we would want to see a little push up to around 650 at least maybe even 660 Before adding a position into n-beb as a short potential trade Apples another one I was talking about this one is also looking like it's forming quite a head and shoulder pattern here How many times we've said head and shoulders in this video guys It feels like a lot of these patterns are looking like head and shoulders This one's a little bit deformed as well But you know if we break this 180 SMA to the downside or this 50 SMA rather to the downside More selling to come in terms of Apple and Facebook here guys. It's looking pretty bearish We do see a little head and shoulder forming as well We could be headed back down in terms of Facebook. So drop a comment down below guys Let me know what you are watching for tomorrow I would love to know if you guys got this far in this video drop a comment and let me know You got this far. I really do appreciate all you guys watching and all of you guys taking for the entire video It does mean a lot. I'll catch you all in the next video. Have a great night. Peace out