 What is going on everybody it stops here welcome back to another video so in today's video guys We have to talk about the mayhem that went down in the stock market We're going to be breaking down the S&P the Dow Jones the Nasdaq We're going to be talking about some news regarding what caused this drop today in the markets And we're also going to be talking about what I personally did today on the 23rd of August in 2019 in terms of my trades so guys if you enjoy this video Feel free to go down below and hit that like button I really do appreciate it and really supports me and supports the channel in general and if you want to be further connected With the Strive smart community the discord group chat and the Facebook group both of those are linked down below in the description box So guys let's get right into it without further ado starting off here with the S&P 500 It dropped 75 points. It was down 2.59% Absolutely abysmal day for the S&P 500 the Nasdaq if we can get it here guys was down 200 points down 2.64% Absolutely abysmal day for the Nasdaq the Dow Jones industrial average down 600 points 623 to be exact down 2.37% and if you guys watched my video this morning, I pretty much called this out, right? We saw Jerome Powell or we were expecting Jerome Powell To have a meeting at 10 a.m. Which he did Eastern Standard Time and we were looking to see how he was going to Kind of approach the topic of interest rate cuts was he going to flat out be like we're cutting interest rates How is he going to approach that right and the market? Obviously didn't take it too well right on top of that the tariffs new tariffs were slapped on 75 billion dollars worth of US goods from China those going to effect I believe In September through December in increments and that also had a weight down on the market today, right? And if we go back to the S&P 500, you know, we can see exactly when the markets dropped, right? We actually gapped down this morning We started to climb up a bit the meeting started around here at 10 a.m. Eastern Standard and we all know at this point Trump is pushing for Aggressive rate cuts right now right pushing for aggressive rate cuts and he's kind of going head-to-head With Jerome Powell and since Jerome Powell didn't really show the demeanor of Aggressive rate cuts the market just like that guys in the snap of the finger it tanked right it Absolutely tanked we can see here at 11 o'clock a.m. Eastern Standard time Right since we didn't get that, you know what the demeanor we wanted from Powell in terms of the rate cuts You know the aggressive rate cuts as Trump wants, you know the oh my god the market guys from 29 25 down to 28 76 you realize that's in 10 minutes the S&P 500 dropped 50 points guys that's straight up panic that just goes to show you how heavily right now this market the entire stock market is Relying on these rate cuts the market is relying on these rate cuts like the rate cuts are oxygen for the market Right that's pretty much an analogy that I like using for this and from there We were just down trending for the rest of the day We got some news and I'll show you guys an article here about Trump wanting You know businesses in the u.s. They're doing a lot of business in China to move their facilities from China Obviously, that's a lot harder to do then Then then then just simply saying it right But we'll see an article in a couple of minutes here that talks about that and on the S&P 500 If we just drag out a bit here to the four-hour chart We were talking in the discord chat today that the the support that we're looking at right now is 28 50 2850 dollars we can clearly see today We got rejected at that 50 S&A under that 50 S&A resistance here on the four-hour chart And we're kind of trading horizontally right now. We can see the triple top here I guess you can say that's a quadruple top almost right We got the rejection on the 8th of August 13th of August the 19th of August and then finally today on the 23rd of August and we dumped and we can see It's also a triple bottom here, right? We hit a support on the 5th and 6th of August We had another support on the 15th of August and now it seems like we are Hovering around there and I'm interested in seeing you know this upcoming week Are we going to maybe see a bit of a you know a bit of a consolidation here? Or is this sell-off going to continue me personally guys? I think we're going to continue to sell off to be completely honest with you guys this news the tariffs the You know the interest rates right all this different stuff That's going on right now Trump saying for all businesses in China to leave China businesses that do a lot of business They're like Apple being one of them You know I think this is still fresh right now, and I think this can heavily affect the markets You know heading into this upcoming week honestly maybe for the rest of the week We might be seeing a sell-off similar to this that spanned across I believe like three four or five days or something like that now Let's say we do get that drop below 2850 I think it's very possible that we get down to 2800 to about 2810 which is the next support that I am seeing here and from there guys You know if we dump down below that and into the 2700s You can see there's a window of about a two three percent drop up to or rather down to the next support Which is at about 2730 So at this point if we break 2850 guys which honestly again like I just said I think we're going to this upcoming week There's going to be a lot further downside for the S&P 500 and especially as the holiday season starts to roll around guys You have to realize when these tariffs actually go into effect And if they do go into effect because just because they're saying that there's tariffs now They can still take those tariffs back But let's say if they actually go into effect. This is going to have a heavy heavy impact on the markets You have to realize take a look at how hard the market is dropping Just on the news of the tariffs coming out in a couple of months once they actually go into effect That's going to be insane in the markets in my personal opinion And it's going to cause a lot a lot of volatility You know like we did talk about in this morning's video So that's kind of the breakdown right now on the S&P 500 if we take a look at the Dow in the Nasdaq It's very similar right where we got rejected by the 50 S&P here on the Dow under this green line Right that was kind of a triple top as well or quadruple top However, you do end up seeing it and now it seems like we are holding that support at $25,500 right and if we do end up breaking that which again I think there's a high probability that we do we may be going down all the way to 24,700 Dollars and guys that is a gap down of about 3% from this support You know at around 25 500 which that's very possible guys Especially with the volatility in these markets and especially with how quick these markets do drop on any any You know a negative piece of news that we do get right you guys clearly see the proof is in the pudding We saw the S&P drop 50 points in 10 minutes like that. That's just unbelievable, right? So this is just a very sensitive market again like I did mention And you know in this morning's video and for those of you guys that watch this morning's video and it helped you Let me know down below in the comment section I would love to know and if you if you guys do like the morning videos I'll consider doing a couple more throughout the week Just let me know if there is demand for those morning videos Especially you know in this rocky market that we're in I'm open to making them if you guys want them So let me know down below, but on the Nasdaq here very similar We got rejected by the 180 SMA We broke the 50 SMA support and now we're holding 74 60 7500 ish as a support which we were at a couple of weeks ago Really about nine days ago on the 14th of August and back on the 6th of August as well So if we break this level we can easily gap down to the next support here, which is at about 7300 That's about a 1.7 to 2% drop from where we are now and take a look guys if we break 7300 That is where the markets in terms of actually in specific the Nasdaq here It's going to get quite ugly right because 7300 the gap down to 70 or rather 7000 which is one of the you know more prominent support levels coming up That's going to be a gap down of around a 4.5 to 5% Which is a pretty pretty big move and especially if Apple which obviously I'm sure you guys know at this point is One of the biggest companies in the Nasdaq it has a huge weight on the Nasdaq and honestly on the overall markets in general You know if Apple takes a huge hit You know on this news I don't know if it will to be completely honest with you guys This is pure speculation right here, but if it takes a massive hit that could drag down the Nasdaq pretty heavily Especially some of these other you know tech companies as well if they do end up getting hit hard from this You know from from the turmoil from the volatility and from everything going on in the markets right now So that's pretty much it in terms of the overall markets guys Let me pull up this article very quickly to show you guys Exactly what ended up happening and something pretty funny that Trump did tweet He said that Jerome Powell is on the president of China's side for not cutting the interest rates You know Trump does say some crazy things on Twitter. I'm sure we can all agree on that, but you can see here You know stock slumped on Friday as US China trade dispute intensified. We all know that I already mentioned that okay Okay, okay Apple whose growth is tied to China It's growth is tied to the growth in China was off nearly 4% and it was the weakest Dow stock an 11th worth Worst Nasdaq 100 performer Hasbro Alexiom and advanced micro devices where the hardest hit Nasdaq stocks as well Boeing was actually the only or one of the Only actually it was the lone Dow winner of the day that was actually up about like point five percent today or something like that And you guys can see here, you know the Trump order announced on Twitter whose Enforcibility is likely questionable in regards to um, you know China tell or Trump tells the US companies to leave China He said that came after China announced It would raise tariffs on a variety of US products including cars and farm products He suggested that US manufacturers bring jobs back to the United States And this is the funny part here guys take a look the the order also came after Federal Reserve chairman Jerome Powell told a Jackson Hole Conference Friday that the Fed Stood ready to provide stimulus to the economy if needed Trump didn't like the speech because it did not signal an aggressive interest rate cut and he tweeted My question is who is our biggest enemy Jay Powell or chairman see chairman see is Chinese president see Jin ping right and he didn't really say that he's on his side I kind of misinterpreted that but you can see that he's really viewing Jay Powell as an enemy right now just because he's not Doing what Trump wants Trump wants this aggressive aggressive a hundred point basis point rate cut and president or rather Jay Powell is a bit more Conservative right now in terms of those cuts. So I would love to know what you guys Have to think about that right? Let me know down below in the comment section I would love to know what you're just whole opinion on the stock market right now And to talk about what I personally traded today guys if you watched my morning video I called this one out to the T and it was TV IX and I know a bunch of you guys in the discord chat Did very well today, and I'm very happy for you guys. Good job. If you did do well today trading TV IX it did absolutely Phenomenal today it was up three dollars and eighty five cents nearly four dollars up 23.26 percent and we can see the VIX which correlates directly to the TV IX ETF here The VIX was up three point one nine dollars three dollars and nineteen cents Which for those of you guys that don't know when the VIX is going up the markets are going down There's a lot of volatility that is when TV IX is doing exceptionally well, right? And you guys can see on the one day one minute take a look at this, right? TV IX was down trending from about the open of the market all the way up to when you know The speech started at 10 a.m. We start to go down down down down down and then 11 Roughly it roughly at 11 a.m. Take a look at this pop right here. That was literally a 12% pop on TV IX And I was like I mentioned in the video this morning I was waiting until after the speech today guys. I wanted to see the sentiment around the market I wanted to see how stocks and the overall markets were reacting I played it kind of smart today and once I saw the markets take that dump I didn't catch it perfectly at the bottom, right? That's almost impossible a lot of the time sure it does happen You can catch it at the bottom, but once the market started to dump heavily remember that ten minute window I talked about where the S&P dropped 50 points. Well That is when I ended up building a little position and I started to buy in to TV IX I believe it was right up here in the 17s 1710 again, it wasn't at the bottom at 1640. I didn't catch it perfectly on this double bottom breakout That would have been awesome, but I didn't right I ended up catching it at around 17 20 17 25 And honestly guys, this was one of the biggest days that I've had in a while, right? I ended up riding it up and selling off on this pulled back because you have to realize guys when things move this quickly What comes into my head is stocks don't be greedy, right? Greed is something that can crush you it can kill your account because let's say you're up 6% and let's say 10% whatever you're up and let's say you're being greedy you want more and more money more and more money And you don't take your profits and let's say all of a sudden that stock ETF future whatever you're trading Let's say it dumps and you start to lose all that profit You're going to be playing mental games with yourself. You're going to be saying okay I'm going to hold it Maybe it's going to come back up and I can recoup that profit and then I'm going to sell and then guess what Happens guys it goes red and then you're like, oh my goodness now. I'm red I should have took the profit when I had the profit I should have You know just taking the profit right and then you might end up buying more when it's red and then it dumps even more This is just hypothetical, right? And then you end up losing a lot of money and you blow your account and you mess up your emotions And that's all because of being greedy right and since this position flew up so quickly I was up a pretty sizable amount on the position at this point in time You know I ended up just taking the profit I believe it was like a six seven percent profit on this pullback here And I was very very happy with it and I actually ended up getting in again guys believe it or not again on TV I X here on the on this pullback here And we popped up aggressively and I ended up selling off for another little move here I believe it was like a smaller move I think it was like three four percent and I actually posted that profit on my Instagram So if you guys follow me on Instagram at stock surface You'll be able to see the profits that I am making on these you know these little trades that I'm doing on TV I X to kind of hedge against the market right because these I don't swing trade them right I'm hopping in and out whenever I whenever I have a feeling the market is going to dump right when the markets are Going to dump I like trading these to hedge against my position And then buy in long stocks with the profits and really recoup on kind of dividends That's kind of my strategy right? I'm a dividend investor as well as a trader and to be honest with you guys I bought five shares of Johnson and Johnson today because I'm viewing Johnson and Johnson as A stock that is not recession proof No stock is truly recession proof But I think this stock does very very well and it has a track history of doing very well and paying increasing dividends Even through a recession and I'm viewing this more of a safer quote-unquote stock in terms of you know times when the markets are in turmoil So I saw the big dump on J&J today It was down about like three percent at one point and I literally took those profits from TVIX and I ended up buying Five shares of Johnson and Johnson today, right? I ended up buying like I think it was like six hundred or So it was like six hundred thirty dollars of Johnson and Johnson at about like a hundred literally I bought it like five minutes before on the market close no joke, right? So that is what I ended up doing today, right? And that's kind of my strategy I'm taking my profits and I'm funneling them into dividend paying Stocks for the most part of course I'm buying growth stocks as well. I'm a younger guy I'm putting some I'm putting a lot of my money in growth stocks and in companies that I think can do very well over time But I do like buying some large cap blue chip dividend paying companies that I feel a bit safer in Then some of these growth stocks in terms of a time period where there could be a recession coming Which I believe is right now, right? So that's what I ended up doing on today I'm in terms of my trades and buying a bit more stock and Johnson and Johnson I would love to know what you guys ended up doing down below in the comment section So guys that's pretty much it for the video, right? I don't want to make this video too long I want to keep the stocks that I'm personally trading and watching I want to talk about those in Sunday's videos So if you want to see that feel free to go down below and subscribe to the channel and while you're at it Drop a comment and let me know some stocks and ETFs that you guys want me to talk about in the next video So or rather on Sunday's video. So Really guys the gist of it is the markets volatile I expect it to come or continue to be volatile heading into this upcoming week and TV IX SQQQ SPXS all of these ETFs here Jnug as well, you know Gold as well if GDX continues to do well, which it did very well today If this continues to pop Jnug can do very well Exceptionally well this upcoming week as well and that's kind of my Strategy and philosophy heading into this upcoming week not really looking to trade any large cap Tech stocks right now. Maybe if they see a bounce back, I might day trade those but at this point with the volatility I'm seeing a lot more potential in TV IX and UV XY So that's pretty much it if you enjoyed the video guys Feel free to go down below hit that like button. I really do appreciate that it provides Really it tells me that you're enjoying these videos and you want me to continue to make these videos And if you want to see further content for me subscribe to the channel and drop a comment down below Let me know any thoughts that you guys have as well as stocks and ETFs Do you want me to talk about in the next video? So I'll preach. I appreciate you guys watching I'll catch you all in the next video. Peace out