 What is going on everybody, Estas here. Welcome back to another video. So in this video, we're going to be doing another overall market update looking at the Dow Jones, the S&P 500 and the NASDAQ. And we're also going to be talking about some other stocks and ETFs that I'm watching and looking to trade for the rest of this week and heading on for the rest of 2018, ending off the month of December. So for those of you all that are new to my channel, my name is Estas and I make videos dealing with swing trading, day trading, long-term investing and my personal philosophies and strategies when it comes down to investing and trading in the stock market. So for those of you guys who want to learn more about that, feel free to drop a like, leave a comment, subscribe and follow me on Instagram as well as on Twitter and join our Discord group chat as well as our Facebook group. All of those are linked down below in the description box. 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So for those of you all that were actually paying attention to that Discord group chat today, I wasn't really active and I didn't actually trade today. And I sent a message early on in that chat saying that my cousins from Greece were actually visiting me today here where I'm from in the South Jersey, Philadelphia area. So I took the day off to really show them around, you know, we went to Philly, we went, you know, the whole city hall deal, we went to the Liberty Bell, you know, we went to Chinatown, Old City, we went to the Rocky statue, the art museum, we did a bunch of touristy things today. And I really wanted to just show them around today. So I took the day off from trading and I kind of was inactive in the group chat as well. So I do apologize for all you guys out there that do, you know, value my opinion and do want me to be active in the chat. It will be all back to normal tomorrow. I'll be back in that chat. I'll be back to trading to help you guys with whatever you guys want to do and give you my personal perspective on everything. But again, you know, I just took the day off today to show them around because this is the first time from Greece that they actually have ever come to the US. So I wanted to welcome them and, you know, really just show them around. So again, I hope you all understand and I do apologize for being inactive today in the group chat. But, you know, now that that's out of the way, let's talk about what happened today in the overall stock market. So the Dow Jones guys, you know, we always talk about market updates. We always talk about, you know, the Dow, the S&P and the NASDAQ to understand where the market is pushing so we can really decide what we're going to be trading for the coming days and for the coming weeks. So the Dow Jones today, guys, was up about $82 up about 0.35%. So for all you guys that have been watching my videos for a while now, I've been talking about this Dow Jones channel that we see here from these trend lines, right? We notice on October, the beginning of October, we all know the stock market was a terrible, you know, terrible market in October, right? We notice here the beginning of the, you know, October, we were at $27,000 and we tanked all the way down literally to $24,500 in the matter of one month. And we popped up here, made a lower high, which is pretty much telling us now that the Dow Jones is now, you know, downtrending in price. We've bounced at the support level here. We popped up again, made another lower high from the previous, but we always kept the support level, right? And the minute that we broke below the support level, we made a lower low and the continuation of the downtrend, you know, pretty much continued, right? We noticed this was actually a couple of days ago, I talked about this in a video called the Dow Jones Breaks Critical Support. We held the support here at $24,500 on three separate occasions here, here and a little bit last week before we did have that big drop, I believe on Friday, we lost 500 points. And this past Monday, yesterday, we lost another 500 points, putting the Dow Jones down about 1,000 points in a span of two trading days. And that put us at the bottom of this channel, since we made that new lower low, it put us at the bottom of this channel that we see here from these red trend lines. So what I was talking about in yesterday's video and what I personally expected to happen, which actually did happen today, was that the Dow Jones was either A, going to have a consolidation day because we had two straight days of 500 point losses, or B, we were going to have a little green day today. So, you know, we actually had a green day today, which was a very good sign that we're holding this support level at the bottom of this channel on this channel that we do see here from these trend lines. And this is telling us either one of two things, right? We're going to be holding this support, maybe consolidate for another day and slowly start to push back up, maybe back up to that resistance level at the 50 simple moving average, or we're going to consolidate here for another day or two, and then make another lower low, which again is not a very pretty sign is not a good technical indicator for the Dow Jones, but anything is possible in the markets that we're in, especially with all the uncertainty with Trump, with China, the tariffs, the interest rates, the slowing down of the growth in the economy, you know, the yield curve curving in, you know, this is some people think that this is a recession indicator, you know, there's a bunch of uncertainty and I talk about this all the time that the markets hate uncertainty and when there's uncertainty and we see, you know, slow sell offs, you know, the panic starts to come in, we slowly start to sell off, and then it's like we jump off a cliff, right? We sell off rapidly at that point. We've seen this happen a bunch, right? We see the Dow Jones slowly start to fall 100 points, 150, and then all of a sudden five minutes later, it's down 500 points, right? This is what I call panic selling. So the fact that we still have panic in the markets, I do see more red to come. But on a technical basis right here, guys, like I said, you know, I wouldn't be surprised if we did have, you know, a bounce back day, a consolidation day tomorrow and maybe another green day or two due to us being at the bottom of this channel here. And you know, the RSI on the overall Dow Jones is telling us that it is slightly oversold right now, right? And the RSI level is one of the indicators that we use here, right? And it stands for Relative Strength Index. And pretty much how this works, guys, whenever these lines are closer to the 30 level right here from this yellow bar that we see, that means that stock ETF index is more oversold. It might be a point in time where that index stock ETF might start to see some more buying power and start to push up in price, right? But on the flip side, if we're over here by the 70 level, you know, like we were back here a couple of days ago, right, a couple of trading days ago, this could indicate that the Dow Jones is overbought, you know, and this could indicate that we might be selling off soon, right? And this is something that I personally use, but I always talk to people and tell them not to use one indicator to base your decisions off of, right? You need to use a bunch of different indicators and, you know, trend lines, supports, channels, all these different things to make your decisions when you're trading, when you're doing your analysis, when you're looking to buy and sell any stock ETF, you know, options, whatever you guys are trading. So what I personally think is going to happen, guys, you know, again, like I said, we're going to be holding this support in my personal opinion. And we might see another green date tomorrow. And if we don't, guys, we're going to be shooting down for another lower low. And that's just not going to be good. And I think there's going to be a lot more panic selling if that does happen. Because take a look at this, guys, not only did we consolidate at the bottom of this channel, we're consolidating at a support level, a very critical support level from back here in March and April of 2018. I've been talking about this in the past couple of videos as well. These are critical levels here because last year, not last year, about 10 months ago, 10, 12 months ago, we saw a very similar situation, right? We topped off at 2700, right here on the Dow Jones. And then we saw a nice correction for about a month and a half, two months, all the way down to the support level. And this is literally like history repeating itself, right? We hit this resistance at 27K just in the beginning of October. And now we're seeing a very aggressive sell-off again. And if we break below, this support here, guys, again, at about $23,500, which we're pretty much at right now, right? That's not a good technical signal whatsoever. And from there, guys, the Dow can literally fall another thousand points in my personal opinion until we find a new support level from pretty much a couple of years back at this point, right? If we do fall here, the next spot we really could go to in my personal opinion, guys, could be $22,000 or not $22,000, like $23,000 potentially, right at this level right here. This would be the next spot where I could see the Dow Jones going before we do see some more buying power. And the whole idea here, guys, is to draw your trend lines, draw your supports, take a look at every single timeframe and understand what the trend is telling you. And this, again, will help you decide what to trade in the stock market. So taking a look here at the S&P 500, very similar situation. If we're looking here on the three-year, one-week chart, we actually plowed through those support levels from this past February, March. And if we take a look at the one-year, one-day chart, we'll see this on a better perspective, right? Very similar situation. We saw that sell-off, that correction from $2,870, all the way down to this level at about $2,575. Very solid support here and here. And the fact that we broke below that, I believe yesterday and on Friday, those two bloody days in a row, that is a very bad technical indicator for the S&P 500 as well. So in terms of a technical standpoint, guys, the S&P is actually looking way worse than the Dow Jones, because the Dow Jones is still at that support level from this past February and March while the S&P actually already broke below it. So very interesting spot right now for the S&P, guys. I do see the S&P potentially falling to $2,450. And this is a bold statement, guys. I made a video on this yesterday. But the fact that we do have, again, a ton of uncertainty, a ton of, you know, people just scared, panic selling in the markets, I don't see it too far-fetched at this point that we do reach this previous support level at, again, around $2,450, which would put us right at this 180 simple moving average on this three-year, one-week chart. This could be a point in time, guys. If we do get to this level, right, this would be pretty much pushing bare territory for the S&P. Honestly, it might even be in a bare territory. Being down 20% at this point, right, you can see it right there. If we do get to that level, guys, of $2,450, the S&P is going to be down 20% from its peak. And for those of you guys that don't know, if we're hitting 20% down in terms of from a peak and a stock market index, that is what indicates a bare market in the stock market, right? Because anything, you know, 10%, 15% loss from the top, that's considered a correction, right? And this is what we saw this past February and March, right? We took a hit from 28.75 down to about 25.70, and you can see it right there, guys. That's a 10% hit. But now, right, we're pushing about, you know, 12%, 13% hit as of right now. And again, if we do get to these levels, that's going to be pushing us into bare territory, which is not a good sign whatsoever. But again, if you're playing both sides of the spectrum, which I talk about in pretty much every single video, meaning that you're trading stocks, you're playing options, you know, when the markets are going down, while buying positions, buying quality companies for the long term, you're pretty much in a win-win scenario, right? Because if you have a winning strategy in the stock market trading, you're making money in the short term, but, you know, the stock market's falling, you're buying companies, solid companies, and you're going to be making money on those companies if they turn out to be good companies, right, in the long term, right? So both sides of the spectrum, guys, is a very important way to be doing things right now, you know, in my personal opinion. And again, you know, you got to do your own research. You got to come up with your own strategies. When you're trading, when you're investing, you do not want to be spoon-fed, guys. That's the number one way that you're going to pretty much, you know, have a short career in this game, which I like to call stock market investing and trading, because all this is, guys, you know, it's really like a sick, you know, it's weird to say, but it's like a sick, twisted video game in a sense, right? That's kind of how I view it sometimes, you know, you lose sometimes, you win sometimes, and it always has you coming back for more, at least that's how I'm personally, you know, I never take a loss and say, screw this, I quit, I'm always coming back, guys, I'm persevering, and you know, I hope all you guys out there are the same way. Don't get discouraged if you take a loss, if one of your investments does crappy, you know, use that as motivation, use that as fuel, use that as a learning tactic, right? To push yourself to the next level, because if you don't quit, you will eventually see success, guys. I promise you that, you know, unless you're just lazy, unless you're just not putting in the work, you know, you're going to see success, whether it be in a year, two years, five years, you're going to thank yourself for investing in the stock market, especially investing if you're looking 10 years out from now, because the economy is going to be way better, you know, the Dow Jones could potentially be at 50,000, who knows, right? You know, you're going to thank yourself, trust me on that. So let's take a look at the NASDAQ right now, guys, you know, very similar situation, we took the hit back in February, we actually took a nice, was this actually back in February? Yeah, it was, we took a hit in February, we actually pushed up to a higher high in terms of the NASDAQ, and now we're testing the same levels from a couple of months back, right? We could see that here on the one year, one day chart, you know, pretty much we're actually at the support level right now, you know, we broke below this one, we pretty much broke below this one, excuse me, and now we're holding this one from back in, you know, early April at about $6,400 and about $80-ish, $6,410, $2,030, right around that range. And again, guys, if we break below this, that is not a good technical point at all in terms of the NASDAQ, but you know, we all have to play this by ear and just see what's going on, you know, every single day to really understand the overall trend and see what is going on in the overall markets. But taking a look at the closer picture here, guys, we broke below this, you know, shorter term support at about $6,500 today. So, you know, we could see a bounce back date tomorrow potentially, right? Especially since we saw Apple have a strong day today, up $2, we saw some of the tech stocks do very well. So, just keep an eye, guys, especially since most of these indexes are oversold, we could see another green day tomorrow, maybe even the next day as well before, in my personal opinion, continuing this correction, heading deeper and deeper and closer into bear market territory. So, now let's talk about some stocks and ETFs that I'm watching for the rest of this week and for the rest of 2018. So, I'm not going to hold you guys too much longer. Let's go quickly into these and see why I see potential in them. So, the ones I want to talk about right now are these crude oil ETFs and they've been very interesting plays. So, for those of you guys that don't know which ones I'm talking about, I'm talking about UWT and DWT. Obviously, today, guys, crude oil tanked yet again. And for those of you all that have been paying attention to crude oil in general, right, this is a commodity, right, this is a future that pretty much lost one of the biggest values that it has ever lost in the past couple of years. From this point here at 76, all the way down to $50, guys, we lost about 30% in terms of crude oil. And again, this is one of the biggest drops that we've seen in years in crude oil. And we were pretty much consolidating and holding this channel here between $50 and, you know, $53-54-ish dollars. And I was talking about this in one of the previous videos, how at this point, guys, either one of two things was going to happen. Either we were going to break out of this resistance and start to uptrend in price and start to reverse to start to test, you know, the previous highs of 60, 65, 70 and slowly start to scale up, or we were going to break the support here and continue to downtrend. And I believe it was yesterday or on Sunday night when the futures markets opened, we saw that crude oil broke the support here at $50. And again, that is not a good technical indicator. And that's pretty much telling us from a technical basis that crude oil is going to continue to downtrend. And, you know, that's exactly what it ended up doing today, guys. It was down about $434 today, which is why UWT got slaughtered, and DWT had a 20% day pretty much, right? Crazy, crazy day in these crude oil ETFs. And pretty much what I'm watching for tomorrow, guys, is to see if we can get a potential bounce back play on crude oil. If we're looking at this from a technical basis right now, we obviously push to a lower low. We're oversold on the RSI level. And pretty much every time that we've pushed to a lower low, it seems like we get a pushback up, we get a recovery day. And that is what I'm looking to capitalize on for crude oil tomorrow. And am I saying this is going to happen 100% and am I saying that crude oil is going to bounce back up tomorrow? No. This is why we have to keep an eye on it and pretty much play things by ear. But I do think and see potential for crude oil to slowly start to push back up. And we already see that kind of happening right now, right? We see the two big red candlesticks from the big sell-off, and now we're seeing a green candlestick start to form here. So the fact that, you know, we do see this green candlestick, I wouldn't see it too impossible to get back into the 47 range tomorrow, right? And this would literally give us a solid trade on UWT solid potential. And obviously, we're going to be playing this one by ear. Let's say, for example, tomorrow, you know, we open up, right? We open up and we see crude oil already up into the 47 range. Well, at that point, you know, we might be able to play UWT if we slowly start to push back down and get rejected at this range, right? Because, you know, if we're not able to catch the move in crude oil within the 9.30am to 4pm trading session, right? Because these moves can happen overnight. They can happen at 4am, 6am, where we're not able to trade, right? You know, these are things that we have to keep into consideration. So we have to see if we're not able to catch that move, let's say by, you know, if we're lucky, let's say we do end up being able to catch that move up at the bell, right? At 9.30am, at the open of the market. I think UWT could be a nice bounce back play. But if we're already up here, you know, at the bell, let's say we missed that move in UWT, it'll be a great opportunity to play UWT if we're slowly starting to reverse and continue that downtrend in crude oil. So again, it's all about playing it by ear and understanding what the technicals are telling you. So that's what I'm looking at in terms of these crude oil ETFs. We can see it here. You know, it got killed, guys, down 20%. Obviously, UWT is nearly up 20%. So what I'm looking to do here is pretty much just play the pullback on DWT, which is going to send up UWT. And it's all about timing and seeing what crude oil is doing, you know, really towards the market open, right? So crude oil, DWT, UWT, looking at those very, very closely, you know, the gold futures are looking very good right now as well. So we had that pullback, we bounced on this previous resistance, which is now a support. And now we're testing another resistance here on the gold futures. So if we're able to break out of here, guys, I think Jnug is going to be an absolutely fantastic play. Jnug did very well today, I believe. Let's take a look at what that one did today. Had an 8% in day. So the fact that the gold futures are at a resistance, I believe that if we break out of that resistance, Jnug is going to have another run, you know, but I do see a pullback coming before we do potentially have that run. But if we do have that run, guys, you know, expect Jnug to maybe get back to the $9 range to that $10 range, especially if the gold futures are able to, you know, continue this uptrend pattern that they're on. I'm going to be keeping an eye obviously on these market ETFs as well, like I have been pretty much since the beginning of October due to all this volatility that we've been seeing in the market. So since I do expect, you know, potentially another bounce back day tomorrow since we're at the support on the Dow Jones and, you know, since we're, you know, really oversold on the S&P as well, you know, I'm potentially going to be looking to play, you know, TQQQ, right? And this is a market ETF that goes up when the overall markets are going up. But vice versa, guys, let's say we do end up breaking that support tomorrow and in the Dow Jones and, you know, continuing to sell off in the overall markets, I'm going to be playing TVIX. And this TVIX ETF, guys, has been my moneymaker over the past couple of weeks. All of the trades, pretty much most of my trades, obviously not all my trades, but I would say about 70% of my trades have been in TVIX over the past couple of weeks. So playing it by ear, guys, looking at the pre-market futures, what is going on in the stock market? What are the large caps looking like pre-market hours are really going to determine what market ETF we're going to be playing? Are we going to be going long on TVIX, meaning we're betting against the market? Or are we going to be going long on TQQQ? Pretty much meaning that we think the market is going to be going up that day. So, guys, TVIX and TQQQ, just keep an eye on these. They really do well in situations with very high volatility, which we've been in. So keep an eye on those ETFs. Those are the main ones I'm going to be trading, guys, tomorrow. Pretty much TVIX, TQQQ, DWT, UWT. And I really like Jnug, guys. I really like Jnug if we're able to break out of that resistance on the gold futures and obviously large caps as well. So let me give you guys a scenario. Tomorrow, if we do end up pushing up pre-market hours, if we do start to see some buying power, some push in the S&P, which has been getting slaughtered, we do see some push in the Dow Jones, and we do see some push in the NASDAQ, this could be a good indication to play some of the large caps, whether that be Apple, Facebook, Amazon, Netflix, Google, Microsoft, just to name a couple. These are stocks that are going to benefit if the market has a couple of strong days in a row, if we do see some push in the overall market. So I hope you guys enjoyed this video. If you did, feel free to drop a like, leave a comment, subscribe. Follow me on Instagram as well as on Twitter. And join our Discord group chat as well as our Facebook group. All of those are linked down below in the description box. I'll catch you guys in the next video. Thanks for all the love and support. I really thank you guys for rocking with me over these past couple of months. I really appreciate it. I'll catch you guys in the next video. I'll see you guys in the Discord group chat as always. Peace out.