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The puts, once it got up to 237, it dumped pretty hard on some news and ended up going all the way down to 230 with just in a few minutes and it paid pretty good. As well as BMY kind of still holding the breakout of that wedge we're looking at. So hopefully that'll have some more follow through in the coming weeks. This week we do have a lot of data. So it may be wise to kind of take it slow. Don't be too bold. Just try to survive because this is kind of like the hunger games of the month when it comes to the stock market, the Fed, data. This is the big week. So for this week, we have nothing scheduled on Monday, December the 11th. And then Tuesday we do have the CPI, arguably the most important data of the week other than the FOMC, which is the day afterward, which is just insane. CPI, we just want to keep seeing that trending lower. We want to see that the Fed tightening is working and interest rates are doing their job. And then Wednesday, we do have another inflation gauge on the producer side. This is the producer price index or the PPI. So we want to pay attention to this at 830. And then at 2pm, most importantly, it's going to be the FOMC interest rate decision. And then the 230 press conference with Fed chair, Jerome Powell, this is going to be huge. And it's a total gamble. He's kind of a wild card because he really have no idea what he's going to say, as well as you have no idea how the market's going to interpret what he says. And there's just a lot of volatility when the Fed starts commenting on monetary policy. And as well as this press conference and this FOMC, we do get the dot plot or the SEP, the summary of economic projections, otherwise known as the dot plot. So we will kind of see where multiple Fed members kind of think where interest rates are going in the future. So maybe we'll kind of see if the market was right on pricing in rate cuts and see if kind of the Fed members are in the same expectations as the Fed futures, as the stock market, as the bond market with seeing rate cuts in the near future. And the dot plot is also probably the closest thing we will get to any guidance from the Fed. As you know, if you have experience or you've been watching FOMC press conferences or trading on FOMC days for a really long time, you know, it's kind of, it's a wild card and they kind of go off the data dependency game and everything they do is just based on the next set of data. So it's very uncertain and you really don't have anything to go off of until the data actually comes out. So that's what makes the dot plot during these FOMC days pretty volatile in terms of the market, because we are getting that kind of Fed forecast and outlook into the economy and where they think rates are going to be in the future. And then Thursday, just most importantly, I would pay attention to the US retail sales, everything else, hit or miss. And then Friday, only thing important I see on this is probably the Empire State Manufacturing Survey. I've seen this move the market before, maybe once or twice, but it has to be a really extreme reading for it to move the market. So these other ones, not so much. So just pay attention to that at 830 on Friday. All right. And for seasonality, last week, we went over the start of December where you kind of get a little bit chopped. So you see, there's kind of a small little uptick, nothing crazy. And then now we're going into the 11th, which you see right here. And you can kind of see the market actually does kind of cool down here on multiple indexes, as well as there's a couple indexes for pre-election years. That it looks like it kind of goes down a little bit too. And then you have some of that are kind of staying flat up here, like the S&P pre-election and the Dow pre-election, these green and black. They kind of do go up. Well, just the regular seasonality without pre-election years kind of everything trending down here at the start of the 11th, which makes sense because we are coming into an options expiration date, a monthly December contract expiration, that's on 12.15 on Friday. So sometimes the weeks leading up to those can be a little bit volatile and as well as the markets just had an insane run. So it wouldn't surprise me to see some type of pullback or consolidation, kind of like what we saw all last week. All last week we consolidated basically and really didn't start breaking out until Thursday and Friday. And then we had the spy closing at a new 52 week high, kind of breaking over resistance as well. So it's a pretty bullish close as well as for the VIX. So we might need to see a little pullback or breather eventually, but right now that close on the on the spot, it's pretty bullish. And I would need to see it get back under probably 460 or, you know, 459, so even think of a pullback at the moment. And then overall, it does have to get under 453.67, which we've covered multiple times and we'll get into that later. That's the seasonality kind of mixed, but we do have multiple indexes regular seasonality kind of pulling back here historically. These are the last 21 years where the data kind of stacked into one as well as we have the pre-election years, which you see the dotted ones. So that's for the seasonality. Maybe look for a little pullback. Also saw another little data set from Trendspider. I think their Twitter, I think the last six out of 10 years, the S&P did average a negative 0.6 percent return. Maybe it's the last four out of 10. I'd have to relook at it, but there is a little bit of evidence that, you know, recently in the last 10 years, we kind of do have an average red move for this week, but we'll have to see and on to the setup. So we'll kind of go over these pretty quickly. Don't want to make this video too long and these setups are pretty straightforward for the most part. So our first one here, we do have so far. It's pretty simple. It's just breaking out of this little channel. You got to test one, test two, try to reject on test three. Actually, it broke out here and then closed back within the channel. But now on Friday's close, it closed outside of the channel. So it looks pretty good for maybe a move up to the eight forties first. And then obviously if you can get over eight forties, that kind of takes you up to supply potentially. There's also a little peak right here. You might need to watch from October 11th, which comes from right here. So maybe watch that at eight seventy three as well. So your two overhead, actually three overhead levels are eight forty eight, eight seventy three, and then also supply, which is almost directly at nine flat. And that's a little drop based drop zone, rejected over here prior nice little downside move after it tested it for the first time. So it kind of has been struggling to get some momentum here. Obviously, it's had a peak right here, had a peak right here, been stuck inside the channel. But overall, it's now starting to break out, kind of shift the structure here. And you're starting to see a little bit of a, you know, change of character in terms of structure and movement. Now that we're breaking out of this, just need to get over these two overhead as well as the moving averages. We are training over the nine, the twenty one, the two hundred and the fifth, as well as it's starting to cross to the upside on the MACD. So that's a good sign of momentum as well. It's been crossed down since the lows here in November. So so far, it looks pretty good to maybe go up. Obviously, just be careful if it starts going back within the channel as such and starts breaking under that seven seventies level, I would definitely mark your seven seventies. This is previous support. It's a pretty big inflection point. You can see there's velocity once they get over it right here. There's a pretty big pop over it right here. And once I got over it, started to get some momentum right here as well. But if it starts going back under that seven seventies, just be careful. And if it goes back under the seven seventies, it's likely going to take you under the channel. So that's for so far looking at calls. You got your upside levels to look at. Be cautious that as well as your risk off level under the seven seventies. So looking pretty good looking at calls. All right. Next, we're going into Netflix. So it was actually pretty hard to find any big tech that wasn't already just way overbought. And, you know, just something that you weren't going to be buying into the 52 week highs. That was hard to find. Well, Netflix just so happened to recently pull back finally into a rally based rally demand zone. It's actually held it up pretty good. Last two days, kind of a little bit of small upside. Nothing major as well. You can see this huge rally based drop zone, which is all natural resistance right here. And it was a very good downside move. I kind of wish I caught this short right here. Now to the side of this big pullback, it is trying to stabilize down here. Another thing you'll need to see it do in order to be bullish. You need to see it get back over this nine and 21 EMA combo right here. Need to start seeing it close back over that. That will bring buyers in more than likely. And then you'd probably take you up to, you know, the supply that I rejected off prior. And that's probably the max high I could see if it got up there. I would have to see what it does from there. You can really only go one level at a time. And this supply was pretty strong. It's a big rally based drop zone. Like I said, it led to a big gap down about an 8% down day after this initial base was made. And that's probably why it rejected so hard right here. Once it got up there. So really nice pullback now pulling into demand for the first time in a while. And we want to see it get over those nine and 21 EMAs as well. So maybe wait for it to get over those. If you start getting that signal that it could get up there, that'll probably shoot it up a little bit. Otherwise, just be cautious. Make sure you're watching this area, this little cluster of the nine and 21 on the one day you want to be paying attention to. And I've showed you why you want to watch your one day moving averages multiple times. There's Walmart recently wants to hit the nine and 21 EMAs. Really big downside. That's why you want to use them as price targets here. If you're buying below them as well as you want to see price getting back over that for a classic uptrend as such. You can see Netflix here. Once it got over that, how the support here really nice rally. So you want to see it getting back over that, but it looks pretty bullish. I mean, it's still pretty in shape here as long as it's holding this demand zone. You know, it can just keep holding up here and it can curl and try to go back higher. So Netflix looking at calls. I mostly like this for day trading, but you know, for a swing trade, if it can start closing back over the nine and 21, I like it for a swing trade back up to supply. So Netflix looking at calls, just make sure it can eventually get over your nine and 21 cluster. If it pulls back into demand, you can look for dip buys or bounces down here as well. So make sure you mark this zone. It's going to be at 447-25 down to 442-60. That's your exact zone right there. But if you want to see that momentum back up to supply, you want to see it get over that nine and 21 EMA. And it'll probably fill this little gap it has right here and fill up this wholesale imbalance area back upward. One thing you do have going against it, though, is this negative MacD. So that'd be nice to see a positive crossover as well. You know, MacD does kind of lag, so just pay attention to demand. You risk off, obviously, if it starts going back under demand, if it goes under 442s, probably like for a little flush, at least down to the 50 EMA right here. All right, on to NCLH. This is a cruise line name. This and CCL are probably my top cruise plays if I'm ever going to trade them in terms of options. The volume and open interest are the best on NCLH and CCL. Well, right now you can see this 1867 was a major peak back in 2022, back in November. So I'm just like a versus some resistance on that. Simple as that. As well as if you look at the movie averages here, we've got a major extension over the nine EMA. And once it starts getting a little bit too overextended over the nine EMA on the one day, that could mean we need price to catch back up to it and it'll try to, you know, catch back up because the nine EMA kind of does lag. But eventually price taps it. It tries to act as a higher low, tries to act as support. One or the other in order to go higher. And that's where a lot of people add on the higher lows in order to take a higher as such. You get the nine and twenty ones down here. It pulled back into it, held as a base, shot up. And it just keeps doing that over and over. And that's your classic uptrend reading. So you can use movie averages for reading over extensions as well. If it starts getting too far over your nine and twenty one, there's a good chance they can pull back price. We'll try to catch back up with the movie average and you'll see that little pullback. So it's as simple as that. And I've traded this strategy a lot. It just depends how extended it is over. So you need to see like a big extension in this case. We can measure it a little bit too. So we got the info line. We can start at the movie average, go to the close. You got about an eight and a half move or eight and a half extension over the current nine. And obviously this will go up a little bit more on Monday. Once we open because it adjusts after each open and close. So right now we are sitting at 8.5 percent extension over the current. So it's a pretty big move. So I'm just looking for a short term pullback. I do like puts on this and I probably just try to pull back into this little zone right here. You got about what is that 1750 and as well as you want to use your nine and twenty one as a price target as well. So price ends up tapping the nine. You want to be taking profit or you know, getting out once it taps the nine because there's a good chance we'll try to act as a higher low. And then if you want to enter back again, you want to go short again. You wait for the nine and twenty one combo to break as such. Once it starts breaking the nine and twenty one's like this big downtrend broke it right here as well. So this is just an overextension play playing a little pullback as it goes into the nine. Eventually bulls will probably try to prop it back up at the nine for a higher low and take it higher. Simple as that. So NCLH looking at puts max risk off. You could probably use like 19 flat for a short term. If you're like day trading or something, 19 flats, a good short term risk off. So if it starts breaking over that, you could stop out. And then overall, maybe 1950 as a psychological or more medium term, if it starts breaking over 1950, you probably start getting out the swing trade or further out expiration. You know, you can just go off premiums as well. You know, keep your stop lots. Once the premiums lose about 30 percent, 30 to 50 percent or something like that, depending on how big you went, you can go ahead and stop out. So a bunch of different ways to use risk management. Use what works best for you. You can use stock price. You can use option premium, whatever you want to do. But we do want to see NCLH just, you know, getting under this 1867, which is that November peak from over here. You want to see it getting under that, staying under that in order to go lower and come back down to the nine on the one day and just pay attention to the one day nine EMA as it adjusts each close, each day it opens, et cetera. All right, now to the last individual ticker. This is Tesla. I put this last because this can go either way. This is a symmetrical wedge on the one day. You got to test one, test two, test three, test four, upper trend line. You could also draw it like this for the lower. You got to test one, test two, test three. You got to getting very tight here. Symmetrical wedges are bilateral. So if it breaks out to the upside, that's a bullish symmetrical wedge break out. If it breaks down, that's a bearish symmetrical wedge breakdown. And symmetrical wedges, like I said, are bilateral. So that means they can go either way, which is why you want to go ahead and draw out your wedge, right click each line, the top and the bottom. And then go ahead and set alerts. So I got one at the upper and one at the lower. And I just want to see a breakdown or a breakout. Simple as that. And it probably make a quick little day trade as well as eventually it could make a good swing trade, but you do need to wait for the one day close, either close under this or the one day close to close over this for a swing trade. But if it does break down super quick or break out super quick on the short term, that gives a really nice scalp opportunity to take it up higher or take it up lower. But like I said, set your alerts at both lines, wait for one of them to break. And if you've got patience, you can go ahead and wait. One thing I will say, it is kind of favoring the bulls. You got positive MACD on the one day. You got all the moving averages holding pretty good. You got the nine, the 21, the 50, the 200 prices over all of these. So that's a pretty good sign that bulls could take it higher. But like I said, symmetrical wedges are bilateral and it can go either way. So for some reason, I wanted to keep rejecting this 247. That's rejected one, two, three times on the short term. And it does it again. It could try to break down. But overall, set your alerts at both lines, wait for something to break. It's either going to break to the upside or break to the downside. But it's getting really tight. And this is an opportunity in both directions. You just got to wait for one of them to pretty much give in. So that's for Tesla. It can go either way. Set your alerts exactly how I did it. You just draw your lines, right click. You can hit add alert. Mine just says edit because I already have them set and you just wait. It's save and you got both. So that's for Tesla. Be patient. All right. Not to spy. Last week, we were just focused on this 459.44 to 453.67. Would they potential upside target to 462 at the March 2022 peak? Does the max upside I could see if we did get over that 459.44, which we did not get over until Friday. So last week, we stayed within the trading range. Pretty much what I expected. And then we didn't get any close for the bears under 453.67. This one day on Wednesday could have, you know, led us to some downside, but people bid it up the next day on Thursday. We had a pretty nice gap up close to about 0.75%. So this one little bearish engulfing bar just wasn't enough. As well as we did close under the one day 90 MA and we even got a negative MACD crossover to the downside. Still wasn't enough. Since you're trending over your nine and your 21, that's kind of your uptrend gauge. So overall, it does need to break under the 21 in order to break that cycle. And then on the medium and long term, it needs to break under the 50 and 200 for your longer term trends. So you're nine and 21, you're short 50 and 200 or your medium to long term. But overall, I mean, VIX had a pretty bullish close, close under the multi bottom lows, you know, the 1274s, as well as you got spy closing at a 52 week high. So our peak last week was at basically 459s. This week, it's only 460s, only about a dollar higher. It still did break over that resistance right here. So you kind of do have to consider maybe there's a little bit more room about two bucks to the upside at 462. So you do want to keep that in mind. But that's about as high as I could see for now. If I can get over 462, obviously, there's a lot more you'd have to adjust for. There's another level at 473, which is this peak from over here. I could even zoom in and show you. So this is a peak from 2022 right here, basically from last January in 2022. So if it starts breaking over that 462, you do have some free space right here to get up to the 470s, obviously. But you're going to take a one level at a time right now. We're still under 462 and we're kind of just melting up. There's really no velocity on this move quite yet. If you get over the 462, though, that could bring some velocity. But obviously with the data coming up, it's going to be a gamble. So I really don't like any position here. You have no confirmation of a rejection for bears. You have no break over 462 yet for a big impulse move for bulls. So I don't like any swing trades here, but I'm still wearing a day trade. I did day trade calls a couple times last week against this. Nothing crazy, just scalping for 20, 30 percent and kind of just trading this chop range. That's all I did last week. So I probably go into it with the same mindset, just kind of day trading this by willing to really trade any direction, long or short. We need to see it get it back under 459.44 for a major downside move and to look at puts as well as for an actual reversal, like I said, needs to get under 453.67. And then overall for bulls, they really need to break over the 462. So this is kind of a no go zone. I mean, you don't really have anything here other than a short term close over the 459.44 or the 460 level. And that gives you a little bit of potential up to 462. That's about all I can see right now. I don't have any confirmation for downside and I don't really have any confirmation for a major breakout over 462 yet. So don't really have much for this this week. But, you know, still willing to day trade this, use the camera, the pivots, take it one day at a time and you should be good. But we do have data coming out this week. So I wouldn't go heavy into anything. So that's for the spy. 459.44 need to get back under that for downside, 462 need to break over that for upside and then 453.67 is the major reversal. Needs to break under that for actual downside and on to the QQQ. So last week, we were just focused on the 388 as well as this 394 level. I mentioned that the 394 is probably the max upside I could see. So here is Friday's close is actually relatively bullish. But then we gap down on Monday very heavily. I mentioned we needed to see like multiple closes under the 388 in order to be somewhat bearish and to start filling this gap. And we actually did get a close here on Monday, Tuesday and Wednesday. But then Thursday, we just had a major gap up and that reclaimed the 388 and that brought the bulls back because we went up Thursday and we went up Friday once we reclaimed over 388. So there was kind of a fake out as well as we did at the nine and the 21 combo still holding. So you got the 21 right here, bounced directly off of that, as well as this gap support, which was at 383s, it bounced directly off that. So your confirmation for bears really needed to be a close like somewhat inside this gap, a little bit closer, but really alls you got was this big wick off the gap support. And then a couple of closes under it looked like it could have gone down, but it really didn't give that confirmation under the structure lows, which is this gap support right here in order to fill the rest. And then like I said, once it got back over the 388s, it brought some momentum back. So we just did bullish over 388 really as long as prices closing over 388. I feel pretty bullish on the QQQ with a chance of being skeptical just at the 394s because I have no idea how to react to the short term resistance. So once it gets up there, I kind of have to be a little bit skeptical, wait for the breakout. And then if we can get over that 394, there's this 1.272 Fibonacci breakout extension that comes from this measurement right here. This is the 1.272 extension of this measurement right here. So that's about 400. So if I can get over that 394, that 400 overall is what I'd be looking for. And whether that would take a couple of weeks or a month, a couple of days, I have no idea. All I know is it needs to get over that 394, which is that short term resistance. Just keep it simple. Mark your areas, your inflection points, your strong reversal areas. You need to see price breaking over that, or you need to see price breaking under your major structures like this gap support right here, as well as spy 453.67, which is this structure low right here. So make sure you're marking those points on the one day before making any big decisions on anything, as well as buy time on your contracts before doing anything crazy. Because when volatility is this low, markets can feel very slow. And you can see, I mean, we really haven't gone anywhere the past couple of weeks on spy or QQQ. We stayed in a relatively tight range, you know, compared to going straight up all of November. So this is that tighter volatility that we're seeing. And that's why you want to buy time on your contracts, guys, no matter what you're doing. If you're going long, if you're going short, if you're looking for downside, you need to buy time for your swings right now just because volatility is so low. There's really no big implied move on the market. So we're kind of just melting up as well as we're not taking out any structure lows. So even though we've been pulling back a little bit, it's just not taking out the lows. I don't think there's enough volatility. There's not enough demand for puts, not enough demand for hedging. So the same thing as last week. I mean, we closed just a little bit higher than last Friday. We closed at $3.89. This week closed at $3.92. So a couple of points higher. You need to watch that $3.94. And we need to see a break over that. Obviously, the risk to reward here is not that good for the short term because there's only a couple more points, about $2 until we hit $3.94. So it's tough. You know, you could look at the longs once it breaks out of that. But I mean, honestly, the risk to reward here is better for puts on anything you're looking at just because it's overextended. But like I said, you need to buy time on that as well as you need to see a signal. And the signal is going to be, you know, the closing under $3.88. Entering the gap, if we can start entering the gap, that's a good signal as well. But otherwise, it's kind of just farting around here. And it keeps going under $3.88 and taking it back over $3.88. But the momentum is there over $3.88. And we've seen that multiple times. You got run up right here. You got a bounce right here. And you got another run up last week, Thursday and Friday right here once it got back over $3.88. So just watch that level and be careful. And on to the VIX. So last week, we were just focused on this 12.73, which is the multi bottom lows, and we needed to see some type of close as well as we needed to see it getting over the nine and the 21 EMA combo. And it just wasn't able to do that last week, guys. You could see it attempted right here, but it just wasn't able to follow through. So this is your nine. This is your 21 as well as we had a couple of closes over the 12.73 again, but it just wasn't able to follow through with that moving average or really any close over the short term moving averages. So that kind of set up volatility for failure, which it did on Friday. Dropped almost 6% closed out 5.5% as well as close that I do 52 week low at 12.35. So now the only logical thing I could see is maybe just a grind down to the 2019 of 2020 lows. But, you know, this is so low guys. It's hard for me to really think it can go any lower than this at the moment, just because hedging is so cheap. And when you have hedging this cheap, people will want to come in and scoop up and that could increase demand, thus bringing some volatility. But like I said, last week, it needs to get over the 12.73 and stay over that as well as we need to get over that nine and 21 combo. We start closing over that that can signal volatility higher. But I really wouldn't expect any higher moving volatility until it does that. You want to see the 12.73 close. You need to see a close over that. And then you want to see the close over the moving averages as well. You do have this positive MACD signal crossing up as an interesting sign. Even though there's no follow through, it is starting to cross up. And it kind of doesn't make you wonder if eventually it will try to bounce with the signal. But right now closed under the multi bottom lows. And it's a very bullish close for the SPX or the SPY. I mean, this is the ideal close you'd want to see for a move going into next week to the upside for the indexes. So keep an eye on that. Keep an eye on your moving averages still. You're nine and twenty ones. And then, like I said, if you want to see volatility come back, you have to see that close over 12.73 plus the nine and twenty one combo. Just keep it simple. Don't over complicate it. So that's for the VIX looks pretty bullish for the market right now. Short term. Obviously that can change, but this, you know, big bar is kind of telling you we could see a little small upside move, at least on the short term. So I love you guys. I'm going to get this chopped up, sent out. Hope you guys enjoyed this video. Make sure you like comment and subscribe to our extra YouTube channel. I love you guys and I'm out.