 There's a reason why Xtrades is currently the fastest growing application on the market for sharing financial ideas. With over $2.5 million paid in the last two years to contributors, users are flocking to see what trades the top traders on the leaderboard are sharing in real time. If you're looking to grow your reputation as a trader on the internet, or discuss your trading ideas with other reputable investors, click the link below and get connected with a trading mentor today, completely free of charge. All right, what's up everybody? This is Alex from Xtrades and welcome back to another weekly trade ideas list. I hope everybody had a wonderful weekend, an extended weekend. We did have today off. It is now Monday, February 19th. So we did have an extended weekend. We will have a shortened week this week trading and almost a lack of data as well. There's a couple good data sets coming up this week. But otherwise, we did just end on Friday the 16th, a big options expiration over $2.4 trillion worth of money freeing up. So just off that fact, that could bring a little bit of market volatility in terms of rebalancing and seeing a lot of taking profit, a lot of buying, lots of volatility. It really just depends. Maybe the lack of data won't bring that volatility. But usually the week after a big options expiration like that, you can expect some pretty wild swings. I guess it just depends. And past performance is not always an indication of future performance as well. Or history doesn't always have to repeat itself, but many times it does. So for a data this week, Wednesday, February the 21st, probably going to be the most important day of the week. It's going to be the five minutes from the January meeting. Lots of times there's really not any new info from these minutes. It's really just repeating the same things that we heard during the press conference. But sometimes you will see algorithms pick up on things that maybe it didn't pick up on last time and the market will try to price that in instantly depending on the language spoken inside the minutes. So sometimes the market can see something different in black and white that they missed the last meeting. And that can sometimes cause a knee-jerk reaction either to the upside or downside. No one really knows. It just depends. And not every single minute that drops moves the market that much. But it's definitely something you want to pay attention to. Anything involving the Fed or an FOMC meeting always worth paying attention to. That's at 2 p.m. And then on Thursday, this is probably the second most important. It's going to be the services PMI and also manufacturing PMI. Definitely going to want to pay attention to this at 9.45. We also have existing home sales at 10 a.m. And a couple Fed speakers. We've got Jefferson, Harker, Lisa Cook, Kashkari and Waller. All speaking on Thursday, February the 22nd. And then Friday, nothing scheduled. So a summary is going to be the Fed minutes on Wednesday. And then on Thursday, you just want to pay attention to PMIs at 9.45. Maybe pay attention to the Fed speakers throughout the rest of the day as well. And that's about it. And on to the seasonality for this week. We do have February 19th to the 23rd today to next Friday. You can see it's actually pretty negative in terms of the seasonality. Very negative all the way into the midpoint of the month in March. This is actually probably the worst part of the best six months in the stock market. This last half of February into early March. Historically speaking, of course, it doesn't always have to do that. But usually it is pretty weak. And especially for all the years that I've been trading, you know, since 2018 at least, I've remembered February being a very bad month. Minus a select few where volatility might not have been as high, but still overall, we do see a pretty good decline in February into March as well. And then overall, it's kind of when you see the market catch a bid, you know, towards the midpoint of the month, as you see right here. This is actually pretty accurate in terms of recent years, especially like the last 10 years. The market's definitely been very weak this last half of February. And a lot of people start to take profit. You'll start seeing some shorts open. And sometimes you'll just see bad news overall. And if we go down to the last 15 years, it's very similar. Basically, this pattern is almost the same in everything. Whether you look at 10, 15, 20, 30 years, it's all very similar. This last half of February is very negative historically. So this is 15 years. It's very similar. So you can see for this recent 10 year data set, it's actually a little bit different. It's got a leg down into late March and the other years, not so much. You can kind of see it bottoms out the midpoint on the 15 years, bottoms out right here. And on the 20 year, it bottoms out about the same spot as well. But for the 10 year that we're just looking at, it looks like the selling doesn't end all the way until almost the end of the month at the 23rd here. And that's just all the last 10 years combined. So obviously with data like this, you want to maybe have a little bit more in your favor. So more years is better, in my opinion. It gives a better picture. But you definitely want to consider recent years as well, because it's recent market conditions. So this 20 year data set goes all the way back to 2004. And that 10 year we just looked at only goes back down to 2014. So that's for the seasonality, relatively bearish historically. Definitely want to pay attention to that. But I would definitely be cautious this half of the month down into March. All right, not to the individual tickers. We got three this week that I'm looking at. We have one short that I'm looking at Microsoft here. And then two potential longs to the upside. They're a little bit more discounted than most of the market. And we'll get into those next. But right now we're looking at Microsoft. It's pretty clear it's a bearish rising wedge. You got to test one, you got to test two, you got to test three here. Also a test one, a test two, test three on the bottom as well. So this is a confirmed break of a trend. You got three tests validated on each end. Now broken on the outside, you can see the first day. It really didn't have much continuation the day after it actually had a balance of sorts before having a couple red candles kind of staying in a range. Now, likely it will need to break under this previous session low. It's going to be at four or three thirty nine. This is the previous weekly low, actually, not previous session. I apologize. So this is the previous weekly low. It will need to break under four or three thirty nine. Four or three thirty nine then takes you down to three ninety seven twenties or so right here at this low. This is a pretty big inflection point to let to a rally. So you will need to watch this and it will need to break under this in order to really flush and a three ninety seven break takes you down to three eighty four, which is this little back test area right here. You see it held up right here, broke out, etc. So you got four or three thirty nine, three ninety sevens and three eighty fours. Those are your kind of big levels you want to watch, I would say. And it will need to break under that four or three overall for short term. If you want to see a short term flush, that four or three is a pretty big level and needs to get under to get to the three ninety sevens. So I'm going to be looking at puts this week on this one. If we look at the movie gauges, you can see this nine and twenty one combo. It's it tried to bounce last week a little bit off the twenty one trying to poke under it just a little bit right now, but no confirmation of it breaking just yet. It will probably take, you know, one more close or so to confirm a break of the one day twenty one EMA. You do have the Mac D going negative here as well. It's one side of momentum slowing. Obviously it slowed down up here as well, but that was a fake out because it made a new high, even after this negative cross right here. So Mac D is not always accurate. But you can kind of see, I mean, just off of this, it's like a shoulder. You get a head and then a potential ugly shoulder here as well. It looks like it's just slowing down, which makes sense because the seasonality is pretty weak coming up. The options finally expired on Friday, a big expiration. And as well as the market is just very overextended. You got semi conductors up just way, way high as well as overall QQQ. The whole index for tack is just very overblown to the upside with minimal pullback really on anything. We did have a pullback last week after CPI, but it recovered very quickly. So there are some signs of momentum slowing on some of the mega caps. Definitely pay attention to that. Seasonality is in your favor on that end and just be careful, you know, going long or really with anything right now. Obviously markets are in an extreme, I would say, you know, extremely overbought to the upside as well as lacking volatility. And there's still a lot of room to draw down as well. So you got to be careful on that. If you go long up here as well, you don't want to get rug pulled because you're some both ends. Microsoft looking at puts needs to break under this one to 21 EMA needs to break under four threes as well, get under 397 eventually. Overall, obviously, you can take it one level at a time. Wait for it to get to 397. See how it reacts to that. Then you can try to shoot lower, maybe shoot for the 50 EMA right here. Take it one level, one movie coverage at a time. All right, next, we're going into eBay. So this is actually a stock I like to the upside. Overall, it's kind of discounted. It's been in an accumulation phase for two years, almost. It's literally in the same spot it was in 2022 as it is right now. So it's been in accumulation and really hasn't gone anywhere. You haven't really seen a major break to the upside. You haven't seen a major break to the downside. Loads are holding, but also these mid-range highs are also holding. You haven't seen a breakout over that. You seem to just stay in between. Well, with moves like these, you can definitely see something come out of that, right? You can kind of see this, all this energy being built up into positions, maybe institutions or big money traders are kind of accumulating this. And eventually they are going to want to push it up somehow after they've accumulated such a large amount. I'm not exactly sure about institutional ownership or really any positions on this. But usually when you see a pattern like this, it's because people are accumulating and you're not seeing enough excitement really to make it go higher. And as well as not enough fear to see it go lower. And that's a great time to kind of look for discounts, maybe look to scoop something up for the long term as it's farting around at lows, not really doing anything. There is kind of some value in that to build a solid average to not have to worry about too much volatility to the downside, because you know, it's just staying in one place and then eventually that energy will be pushed into an upside move potentially. Another thing I like about this, we do have a breakout. You got a test one, a test two, a test three. It broke out on this one bar, pulled back, back tested, now bouncing off of that back test. And as well, you do have solid support at 40. As you can see this 40, 16, you have a bounce right here. You have a bounce right here. You had a small flush right here, but then you had some lows to pick it up over here, small bounce right here out 40 as well. So you have over three or four tests at this 40. It's obviously being defended pretty well. Somebody doesn't want to under 40. So you have a pretty solid base and I really like this for a longer term swing, something you can buy time, maybe April expiration minimum for calls. Obviously for stock as well, they do pay a dividend. I think it's about like, yeah, 2.5, 2.3% for the dividend yield. Not too bad, but you aren't really getting any equity gain out of this the last two years. You are kind of only getting a return from that dividend if you were to hold the past two years. But like I said, and then accumulation fades like this, eventually the energy will get pushed potentially into some upside. Eventually you just got to be patient. So I really like this breakout play. I'm looking at calls, but probably further out. Like I said, April expiration minimum. If you look at the one day, you can kind of see it's a, I mean, it's kind of a pain in the ass stock. It's very like choppy. It'll go down one day up, down, up, down, up, down, breakdown. You got a reversal here back down and it just goes like kind of chops its way up and down, right? You don't really see any crazy volatility and maybe you can find some comfort in that in a long term investor position because you don't have to worry about too much volatility in this stock and it's paying a dividend and it's not really going anywhere. They do have earnings coming up though on Tuesday. So you will have to be careful with that. I personally don't recommend holding through earnings. It's very risky, unless you have a lot of time on expiration. We had Penn on the watch list last week. They reported earnings. They had awful earnings. Hopefully nobody held Penn calls or anything through that. It's just too risky. If you were to buy like leaps or something a year out, obviously, that's completely different. If the stock declines after earnings, it can easily recover back within a year and you won't get volatility crushed. You won't lose too much value if it declines, but got to be careful holding through earnings. One thing I do like about this is starting to break over the one day 200 EMA as well, which has been pretty strong resistance. Looks like I try to get over right here, fell back under, get a rejection here, a rejection here, another poke out, another poke out, you got two rejections up here, actually three, you got a rejection or rejection or rejection all the 200 EMA. So we'll need to stay over that. You got a positive MACD. That's good to go to the one week MACD is still positive as well. So if you wanted to wait till after earnings on what is that 28th? So if you wanted to wait till March or something to look at this, you could do that as well. But if you want to try to be early and you do want to hold through earnings, definitely just buy a lot of time. Otherwise, just be careful, you know, holding through earnings. But like I said, I really like this for the long term. Something you can give it lots of room to mess around because this breakouts pretty nice as well as you got pretty strong support at the forties as well at the 37th. So that's for eBay looking at calls. All right. And last but not least for our individual tickers, we're looking at XLU here. This is an ETF for utility stocks. So what I like about this, we do have a 61.8% Fibonacci bounce here. If you didn't know, the 61.8 is usually the most sought after a level for Fibonacci zones, whether you're looking at it from a down measurement for rejections, or you're looking at it like we are now in a pullback position, looking for a bounce off the 61.8. It can go the same way for downside. If you were to do a down measure, let's say like this, you would from here to here. Lots of people will look for rejections at the 61.8 as well. Or, you know, the 50 or the 38.2. So the 38.2, the 50 and the 61.8 are all pretty valid for down measurements like this. But in this case, we are measuring off of lows for upside. So you start here, you go up to this peak right here. You can kind of see that 61.8 bounce off of this little pullback zone right here. So do you like this for upside? Usually, XLU can move despite the market being down or it can kind of be a defensive play of sorts. It just depends. Obviously, there's really no hard correlation with this and the spy. The spy has been making highs. This has actually been pulling back. You do have a closing relatively flat while the spy closed down half a percent. You got tech closing down almost 1%. So this could have been worse. And there is kind of some relative strength here, I guess, of sorts. You don't have a declining as much as the indexes or really other sectors and kind of holding up this nice 61.8 bounce. It will need to break out of this downtrend line. So definitely want to watch that. So if they can break out of that, if you want to wait for that to break out, you can do that as well. So eBay and XLU could be some more patient type plays. eBay, if you wanted to wait for earnings to come through before taking a position, that's always a smart way to go about it instead of being in early and holding through their earnings and hoping that you're right. And then XLU, we do have a downtrend here that's not confirmed to break out yet. Maybe if you drew it like this, you started at this peak right here and went to this, you can kind of see a poking out of that too. So we could have a confirmed setup here, but usually like to start at the extreme point and go from there. And this is the peak high. So I start from there and I make a second point to wherever it rejects off next. So your point one, point two, and then whenever it tests this, it's going to be a point three. Some people will go through the candles despite anything. So they'll go, you know, from here to here and count one, two, three, four. It just depends. Usually I like to count the wicks. So this is the wick high of here and this is the wick high of point two. So what I will want to see is XLU getting out of this and I'll right click it. I'll add alert on trend line and we'll just name a breakout. So now that we have breakout, we hit create and we can wait for it to poke out and then we'll give us a setup. If you wanted to try to be early, you will just need to be careful in case it comes up to the line and tries to reject off of it. Another thing you do have going against you a little bit, you got the 50 EMA here. We are over the nine and twenty ones. So this is your nine, your twenty one. We are over that, but this is your 50, which is support here. It was a rejection zone right here. So we need to get over that 50 and then overall you could probably just look for the 200 EMA is a price target, which I probably mean about, you know, right here, but like sixty three or something and it will need to get over that. Similar to what you see this impulse candle right here, it will need to break over that 200 to get more momentum. You can see to try to do that right here as well, but fell back under and went negative. MACD is positive. So that's good. That's one good sign. So it's not awful. You got a downtrend line. You are trending under the 50, but overall you got a sixty one point eight bounce and also MACD positive. So this could be a pretty good play if the market declines regardless, which I'm kind of expecting the market to see some downside over the next couple weeks. And obviously, I don't think it's just going to go down in a straight line or, you know, decline, short term balance decline as markets do. But I feel like you could catch a bid regardless and kind of act as a sort of like a safety play or a lag or play, like, you know, actually your energy, you know, it has its days where it's just up huge, even if the market's red or even if the market is flat, Exile and Exile you are kind of similar in that way. Sometimes they can have just a huge day despite your broad index kind of being flat or red, utilities, energy, consumer discretionary, stuff like that, stuff that's not big tech basically, you know, they can have their own big days and kind of a mind of its own regardless of market redness, market flatness, etc. So that's the way I'm looking at it. It's kind of like a safety long, I guess, because I still want to be, you know, looking at places upside because naturally, you know, markets like to go up to, I guess, eBay and Exile you are kind of looking discounted in that way and have a mind of their own. You can see eBay here. I mean, up almost two percent while the spy QQQ, you know, spy down half QQQ down almost a full eBay up. So that's relative strength and Exile you closing flat, despite index weakness, I would say that's relative strength of its own. So just set that alert at your downtrend line if you want to be more patient, if you did want to enter now, you just want to be careful of that downtrend line, maybe by timing your contracts to deal with any drawdown risk, you could do that as well. But if you're looking for, you know, a nice pop or short term pop, you will want to see that downtrend line being broken out of and maybe you want to take as long term of expiration for this, if you can get that confirmed breakout. All right, not to the indexes. We're looking at the spy first here. So so last week we closed at a new high. I mean, it's basically we really didn't have any good setups or anything for. I mean, you didn't want to go long. Obviously the first thing on Monday with the spy closing at this level. And at the same time, we didn't pull into the movie averages either. So it wasn't a good spot to buy yet. So basically all we had was just a potential guess on where the top could be. And you really had no signals. You had a full kind of full body bar here. You didn't have a bar like this until Monday that was signaling some type of potential reversal for Tuesday. And then we had a big down day. Spy was actually down 2% this day on CPI because it seemed like CPI was getting a little bit sticky. It freaked a lot of people out. So we pulled into the nine and twenty one e-mail combo. We pulled into this demands as a rally based rally demand. This is probably the best area to buy if you're going to buy the dip and just rip back up, fill the gap and we had to back up into our new supply, which we do have new supply here. This is a rally based drop zone. So that's one thing you can mark here, this little rally based drop. That's probably going to be from like 500 or 501 up to, you know, the WIC high. And then your demand here, your rally based rally zone is going to be from like 493s to 490 flat. So this is your tradeable range as well as we had this up trend line that we pulled into. So I'm pretty sure we talked about this trend line last week I mentioned you probably didn't want to be too bearish until we broke under this trend line. And now I hope you can see in real time why I probably said that you had test one, test two, basically a test three, and then here was test four just last week. So you had demand, you had the trend line, and you had your EMAs meeting in the same spot for a higher low to push back up into the new supply zone. And we didn't get a rejection at the supply until Friday. The supply is actually following the technical is pretty good, which is a good sign. That means you don't have to be totally discouraged. You can still mark your levels and it doesn't seem like the market is just defying logic. It's working as it should. I actually had some puts from a couple of weeks ago or last week, I think they went all the way green to 30 percent down here. I decided to keep holding it. It's just one contract because I feel like we can get under 490 eventually. So that's kind of what I'm holding for. So I held all the way from a 30 percent gain all the way to red up here and now kind of still red up here, hoping to get back down under 490 eventually. I have all the way till March monthly. So I think like three 15. But either way, even when I pulled into this, I was still skeptical that it would go down further because I had this trend line at the 9 of 20 and we had this demand zone and we couldn't close under 490. So I was kind of expecting some type of short term bounce, maybe not all the way back up to the previous all time high or this little was that 503 50s. Maybe wasn't expecting it to go that high, but I was expecting some sort of little kind of jump off this trend line, off this demand and off this 9 of 21 EMA. So it wasn't just totally surprising and I wasn't fuming out the neck that I didn't bust down and go past a 30% gain. Obviously, you know, it kind of sucks seeing it go from green all the way to red and seeing it retrace just all the way back to where it was in two days. But overall, I feel like eventually we can get under 490. So I'm kind of looking to get a little bit bigger of a gain and more of a correction. You know, I think we can get under 490 eventually. So that was pretty much my thoughts on the spot put position that I still have open. But either way, the technicals here, we do have potential for a short term rejection office supply here. We have one confirmed candle. Obviously, the lowest I can project until I see how it reacts, just the trend line. So it pulls into your trend line here. I can't really project any lower into demand here until we break under that trend line. If we can break under that trend line, I can project down into the same level we reached last week. So about the 490s. And then overall, I will need to get under the 490s close under that maybe reject off the back end to set up for another leg. So obviously that's kind of just wishful thinking and you will need to see that 490 break in order to project lower and as well short term, we need to see that trend line break. Same thing as last week before trending lower or projecting any lower. So make sure to mark this demand zone. This is your rally based rally candle for demand. This is your rally based drop for supply right here. So demand, supply, trend line, market all. All right, onto breadth. This is market breadth or S&P stocks above their 50 day moving average. We use this to see how really most of the market is doing because obviously with spy, you're really only getting I mean, 30% of the weighting in the spies. Some of the big tech names like at least the top 10 names hold at least 35% concentration for the whole index. Now with this and like let's say the equal weight index or RSP for the S&P, you're getting a little bit more broadness to this. This is all S&P stocks about their 50 day moving average. And this is kind of what we've been looking at to see how the market truly is kind of see if it's holding as good as it, you know, the index is making a seam. And our conclusion the past couple weeks is stocks about their 50 day have actually been going lower while the spy goes higher. So I can even pull this up. We'll look at this indicator versus the spy. So you can see the divergence. We had the indicator that we were just looking at. So this orange line is this indicator right here. And then regular candles are just the spy. So you can see overall, I mean, usually really good correlation when stocks about their 50 day are going higher, the spy is also going higher when stocks about their 50 day are going lower, the spy is also going lower. And you can see it just follows it very well overall. So this is a really good measurement for breadth and how strong or weak the market is. And you can see when it's in tandem together and it's moving pretty accurately together, you see some pretty crazy market moves and some really smooth kind of market functioning, right? I mean, you got just overall really nice moves down, up, down, overall just kind of smooth. Well, now we started to get this divergence back in January. So stocks about their 50 days started trending lower, supply cap going higher. And that's kind of signaling a disconnect between breadth and the overall market and overall S&P stocks and the actual index itself. So this is obviously just big techs or you know, mega caps, you know, the top 10 names carrying the market likely due to their good earnings and overall, there was some fundamental value behind this push. I mean, you have meta report really good earnings and a lot of the other ones overall had pretty solid earnings. So it's not just some like bubble or baseless bubble, you know, there was some fundamental value and some kind of validity behind this move up. But regardless, you had S&P stocks declining, actual S&P still going higher. And the question is, is this S&P stocks about their 50 day indicators is kind of giving us a leading indication into the market pulling back. So you could say that it kind of signaled this pullback on Tuesday. You had stocks about their 50 day declining for over a month. It was probably eventually due for some type of pullback because you had breath declining and you didn't have the S&P declining yet. So maybe this overall collapse in breath did help for that pullback on Tuesday. But overall, we did get a pretty quick recovery and we're really back to square one. We still have breath declining, holding very low. Basically the spot, the same spot that it was at, you know, last week, maybe just a little bit lower because you close up here at the 501s, close at 499.50 this Friday. Overall, it's basically unchanged. So I would say that, you know, this breath indicator pulling back still has a little bit of meat on the bone to make the spy pullback if these mega caps pull back at, you know, any more than they already have that could really bring us down because you have the rest of the market kind of pulling back as well. So that's just one way to look at it. You want to see stocks about their 50 day going in the same direction as the actual index because the 50 day moving average is just a very important moving average, in my opinion, and it's your medium term moving average to kind of tell you things are bearish or bullish. And when you have a bunch of S&P stocks going back below their 50 day while the spy keeps holding over its 50 day and keeps going higher and stuff, there's just some type of disconnect there. And overall, this indicator is really like been very positively correlated with pullbacks and major bounces in the market. So you definitely want to pay attention to it. I feel like a signaling that, you know, the spy could go a little bit lower. I usually only, you know, aim for a couple percent at a time, whether for upside or downside. So I'm not expecting some crash, not some perma bear, not doing transfer clickbait or really anything like that. You know, at the most, I usually expect like a one to two percent pullback. And then I kind of measure and go from there and see how it's reacting, how it closes and I go one session at a time. I don't predict 5% 10% crashes or 5% 10% moves to the upside. If it happens, it happens. But I adjust on a daily basis after each each session or each week, kind of like what we do here, we go over a weekly trade ideas list and a weekly index analysis. So really, it's kind of been unchanged the past couple weeks, as well as the stocks above their 50 day, still staying low spot, still at the same valuation, basically same level, which makes me believe we're still due for a little bit more of a pullback, despite we got a 2% pullback on Tuesday, I still feel like there's a little bit more that could happen to the spot to the downside, especially with this seasonality this week. And overall, I mean, all the way into March, the seasonality is just it sucks. So here was last Friday's close. And then we had a pretty big pullback Tuesday and we closed right here. So breath unchanged from last week, basically, let's buy the same valuation basically as well, breath hanging out at lows, spy still hanging out at highs, big divergence, could lead to some downside. All right, not through the QQQ, had a pretty major pullback as well on Tuesday. We'll actually add this feedback later. Let's go over the one day first and we'll get into those Fibonacci levels on the one hour. So QQQ similar uptrend, you got a test one, a test two, a test three, basically came down for a test four here and bounced off of that. So as you had the one day nine and 21 EMA combo holding as usual, I've been mentioning the past couple weeks, you just want to keep using this one day nine and 21 EMA combo as your higher lows or really as your dip buy areas or really as your trend gauge as well, even if you're not trading this, use it as a trend gauge. Don't get too bearish until it breaks under. And don't get too bullish when it gets way overextended over kind of like right here, right here is way extended over right here is pretty extended over. So just use these as a gauge whether using it for to read extreme upside, whether using it to buy dips or waiting for it to break trend and break down the 21 for bearish momentum. It's just the easiest way to go about it because the market respects it. So I basically have the same outlook on QQQ as I do on spy. I'm not like ultra bearish until it starts breaking down here. But I feel like overall I probably will file the seasonality if the spy does. I feel like everything will kind of get a little pullback. Obviously for downside targets, I really couldn't go any lower than this low right here. It's going to be like 416. It also had a pretty good demand zone and bounced off of if you marked this as a rally based rally zone. That was your kind of your dip by area as well. So you use the trend line, the demand or the nine of 21 EMA. There's three different things you could use last week to kind of figure out this bounce on the short term after the gap down. And then you just want to keep using this trend line. You know, this is your trend gauge or your nine of 21 EMA way for this to break way for the nine 21 EMA to break or wait for 425 to break on the QQQ that will send you down lower potentially. And you will need to see a close under all three of those, either the 21 EMA, the trend line, or the 425 level, which is demand zone low before you can kind of project lower down into 416s. This is actually a little demand zone as well, too. This is kind of like a drop base rally. So something happened here to lead to this little impulse right here. So you can mark this. So maybe 425 to 420. That's kind of a free space that could fill up to the downside if it can break. But for right now, still holding up structure pretty good. Obviously, Friday's closed pretty weak, probably due to options, expiration overall, we'll need to break under that. Like I said, otherwise, it could just, you know, kind of consolidate here, try to hold up. Obviously, I'm not as confident and upside anymore. After such a big run, you'll see a MACD going negative as well. There was a fake out last time right here once across negative, it kept going. You have a little bit more evidence the momentum is slowing this time around, especially with seasonality. And really, these past couple of weeks right here, seasonality was actually bullish. And this year, this week, not so much. So that was for the one day. Let's look at the one hour, because there's actually some Fibonacci analysis, you could go off of here for day trading and stuff. I figured it'd be a pretty good lesson. Since we just went into Fibonacci's on exhale, you remember how I was talking about the 61 point eight rejections? Well, you got one right here on QQQ one hour. So this was actually from this high to the gap down low on Tuesday, it pulled into the 61 point eight. You had a little rejection candle here. We can go down to the 15 minute. So you had a little rejection candle there. Worked pretty good for puts. You had an attempt to break over then a flush back under the 61 point eight really big pullback on Friday. Another good put trade off the 61 point eight. You have one right here short term scalp, right? 61 point eight rejection and another 61 point eight rejection right there. So like I said, the 61 point eight can work for rejections for doing a down measurement as such. And the 61 point eight can also work for upside if you do an up measurement from low to high. This is your pullback or dip by zone. So Fibonacci's work pretty good with your using it for a down measurement, up measurement. Doesn't matter which time frame, usually the higher the better. But even on the one hour, you can see here, it works pretty good. These rejections work pretty good for put scabs or day trades. So if you want to mark those for short term levels, I would definitely do that. Start from this high, go down to this low. These can be your levels going into next week for a short term for intraday levels. Obviously you're going to mark your overall one day uptrend line that we just went over, as well as your demand zone, your rally based rally right here, your 425. It's a structure low as well needs to hold. So mark 425. And then you have a pretty big demand zone right here as well at the 420s. So I hope you guys enjoyed this video. Make sure you like comment and subscribe to extra YouTube channel. Hopefully this week goes pretty good. Obviously last week is pretty decent. We had like IWM calls SMH a nice pullback we're looking for on puts. And there was some pretty good setups last week. I wouldn't say it was probably the best week, but we did have a couple trades work out. So that's always good. I usually feel good as long as you know, one of them works out. I can feel like somebody maybe made some money on something. And that's all I'm trying to do is just help, you know, you don't have to take the trades or you don't have to listen to me. But I do enjoy doing this and, you know, making these updates for people and putting my opinion out there. So I love you guys make sure you like comment and subscribe. Like I said, try to get our YouTube channel to hit the algorithm a little bit more. And thank you for watching. I'm going to get this chopped up sent out all that good stuff. So love you and I'm out.