 Good afternoon everyone. This is Melissa with the stocks which calm and welcome welcome to a spy update I did do a QQQ's update earlier today I hadn't even glanced really at the spy and lo and behold the spy is even more bullish than the cues We actually almost got up over the high here. It looks like I Bet we are up over a pre-market I post market We almost got up over the high on the day and now I just thought we were probably gapping up tonight and we are So we closed at 185 82 and we got up to 186. So We're gapping up right now. It does look like we are going to follow through higher tomorrow Which was my call for the cues same thing with the spy. So let's take a look at this here So any gap up tomorrow unless it's a crazy gap up could be bought aggressively here. We're gonna rally and Should make another new high tomorrow could happen in the pre-market tomorrow could happen tonight yet Still actually because 186 15 was a high. We're not that far from it right now here at 446 p.m really really nice show of strength in the market and This again is why you don't short tops and I know people like to do that because we're looking at what they think is resistance Let's just go back here a little bit When the market actually rallied up here it made this area then it rallied up again touched on the air didn't get over it So people thought oh, it's a double top then when it did again People think it's a triple top and people look to short this because people are Thinking then that the market's gonna come in or change directional trend or something I'm not sure what people think but the market really would only had a short term pull-in It lasted for a brief period here in January if you shorted this for a short term pull-in You made money in the spy, but know that if you ever short a strong market The chances of you making money are low odds because at any point in time We could have actually flipped over the high right a ways or the next day or the next day now After the pull-in we got bought and then we went over the highs But even here I know people got stopped out here because I know people shorted this Because it was another touchdown up over the number of that closed with a topping tail and a red body And I know people then thought this was another short Entry just because something has a level of resistance. It's not a short entry. Let me make my point here Market when it ran here. Let's go all the way back You can understand what I'm saying because it's just it's just not the right way to train Market ran up here If you call this resistance Market comes in you could short this and say it's resistance, but then you see it right up to another level resistance Then it came in then it ran up here We could say well This is resistance, but it's higher than this resistance or this resistance, but lower than this resistance market ran up Held here came in gapped up over this resistance. You could say well This was resistance here. It held one two three times, but then look at gapped up over it came in came down Made the resistance came up didn't get over you could say well, this is it. This is a short It's coming in we're coming in it rise up to resistance gaps right up over it Rallys rally. It's makes another area say okay. Well, this is resistance comes down Gaps up and go over it right away. So I mean you cannot continue to short resistance in a bullish market It's never going to pay right you short resistance is something in a downtrend You buy support if you really want to and some it's in an uptrend Although there's multiple areas of support even in something that's in an uptrend and again This is very complex and and I don't want to make a two-hour video here because you can't really buy every area of support either Even if something's in an uptrend But to make a long story short I know that a lot of people about this market was toppy back there short of this area It helped the market to lift over the highs very quickly after this and hold the next day And now we're going to do it again and people keep thinking that we're extended here And as a result we keep going higher and shorts people trying to short this thinking they were extended or that we're going to come in Keep getting pushed out and that keeps make make us move higher because one choice up to cover it makes green It's a buy to close when you press it. It makes a green it could be short covering So what's happening is two things one buying and two short covering and that's pushing the market higher and higher and higher and higher And that's what's happening here and you see The market actually did get bought in here today because it had the nice follow through and every 15 minute could have been bought And we closed to the high and actually again, we're gonna gap up tomorrow morning I just don't know where exactly but this market is very nice and bullish and Looks like we're just gonna do it right away here tonight or tomorrow So looking for a nice green day in the market tomorrow last day of the week on Friday Actually last day of the week and last day in the month Hope everyone had a wonderful month. It was earnings season this month in February It was a good solid month for trading gaps, which is what I do and the interesting thing is I love to short I love to short gaps and it was the market was bullish here Market was bullish here this month of February and it was shorting this whole month and it was a great month So so interesting it really doesn't matter what side you play on as long as you know what to do as long as you know What to do when you do it? Well, you can make money in both directions I just happened to like to short more than to go long Because shorts take over the momentum takes over so fast so people panic and are in longs and want to sell out of them But the funny thing is the ironic thing is that I'm shorting and doing so well in what is a bullish market for the last You know however many years five years You know So you it's really just about understanding what you do knowing what you do and doing it well I'm looking for the right stuff to play You can't play the market every day and if you need the market for your trades And there's gonna be a lot of days that you just don't trade. That's just that's just all there is to it I that's why I like to trade stocks and companies because they're so specific and I'm doing different ones every day for the Most part and it's fun. It's exciting now the market's higher for tomorrow We'll see what happens then how we close tomorrow that'll take us into the next week Which will be the start of the month, but actually looks like blue skies ahead here for the market for the first week in March Looks like blue skies ahead pulling will happen, but depending on the rally it may not be next week And we could rally for another week before we even pull in at this point because the market kind of has taken a little bit Of break here now. It's making some nice Follow-through moves without tiring. I mean, this is not a tired market to me. It's so interesting I don't know why people think things are extended just because you have six green bars in a road doesn't mean something's extended at all It's actually Sorry about that Should I turn my phone off? It's actually not extended at all because of the fact that we had the dip down So we rallied up came in rallied up came in this dip down basically was only retraced here So if you look at that you see here what happened We came down hard came up hard then we rested now we're breaking out So I mean this next move up could last for a week or kill last for longer Can last for two weeks before you pull her in again to see how there was a retracement and then back up So this like basically washes each other out and then you have the way it based in here and now we're lifting higher so It just depends how this sets up here if we do it like crazy huge big green bar tomorrow And follow-through depends how much buying really comes in here and you just have to wait to see it But it's gonna happen. I mean it's happening. It's happening right now. It is gonna continue to happen This is Melissa with the stocks wish calm have a great night everybody have a wonderful weekend If you'd like more information on how to read charts and how to read the market and how to read gaps Email me at Melissa at the stocks wish calm the next gap class is March 8th and 9th. Thanks everybody. Have a great night