 What is going on everybody is Stas here welcome back to another video so in today's video just like always guys We're going to be doing an overall market update taking a look at the Dow Jones the S&P 500 and the Nasdaq We're also going to be doing a trading update talking about what I did today on the 12th of July in 2019 in terms of my trades as well as taking a look at some other stocks and ETFs that I personally see potential in and That I want to trade here in the month of July in 2019 so if you enjoy this video if you find value in it feel free to go down below and hit that like button if you haven't Already subscribed to the channel feel free to go down below subscribe hit that notification bell and without further ado Let's just get right into the topic of today's video So the S&P 500 hit yet again another all-time hide today at three thousand dollars and 13 or rather Three thousand thirteen dollars and ninety-two cents. It was up thirteen dollars and eighty-six cents at the close up point four six percent The Dow Jones industrial average continued its rally today guys up two hundred and forty three points up point nine percent hitting yet again another all-time high at twenty seven thousand three hundred and thirty three Dollars the NASDAQ here guys the NASDAQ the tech heavy index here was up forty points at the close up half 8% here nearly hitting that milestone of eight thousand dollars coming a bit shy of it hitting an all-time high today at seventy nine sixty seven and fifty cents so overall guys You know the markets have just been continuing their uptrend this rally that we've been on at this point for over a Month really nothing has changed just all-time highs again throughout the board really just continuing You know this crazy crazy crazy rally that the markets have been on here with the optimism You know due to the optimism mostly to the optimism regarding this rate cut that we're most likely getting this 25 Basis point rate cut that we're going to get here towards the end of this month in July So let's break down some you know markets right here Let's break down the S&P will go to the Dow after and then the NASDAQ so pretty much ever since the S&P at this point Has broken above twenty eight or rather twenty nine fifty twenty nine seventy five We've been healthily really just maintaining these levels above that point right these levels that were resistances We've been maintaining those as new supports really we solidified that as we pulled back We retested twenty nine sixty as a support and we broke out of that wedge that I drew here a couple of videos ago And ever since we've broken out of that wedge like I said a couple of videos ago if we break out of that wedge You know the market will be bullish well ever since we broke out of that You know the market has continued to rally up to another all-time high and really just all-time highs day in and day out Here over the past couple of days so not much has changed guys You know ever since we've broken out of that wedge We've just been running here on the S&P 500 the 20 day one hour really shows us the uptrend is still intact You know we're following we're riding that 50 SMA here as a support This level has been tested time in and time again over these past couple of weeks And we've held that level on many different occasions and just recently you know We saw a bit of a retracement here We held twenty nine ninety as a new support level which was an old resistance And we also bounced above the 50 SMA here solidifying a higher low and honestly the continuation of the uptrend So that's what the S&P is looking like right now guys You know on smaller time frames you see a lot of the same You know the moving averages the 50 SMA the 180 SMA both of these have been acting as support levels And again it's just a lot of the same right the markets have just been running up running up running up right And they're getting more and more overbought based on the RSI each and every day that we continue to You know pile up here and hit all-time highs so the Dow Jones industrial average guys very similar right We've been hitting all-time highs RSI is very overbought here It's overextended and honestly we're in need of a pullback And you know just like the S&P you know in my opinion the Dow is needed for a pullback And it's also you know holding that level that old resistance as a new support But for the Dow's case that level is roughly I believe at like twenty six thousand seven hundred dollars right you notice that level right here Resistance resistance resistance we broke above it It is now a new support and we solidified it as a new support a couple of days ago when we were able to You know break out of that wedge here that bullish move and ever since we broke out of that wedge again very similar to the S&P We've been seeing rally the rally continuing here in The Dow Jones and just like the S&P, you know, we're holding the 50 S&P support here Everything is looking good right now for the continuation of the uptrend But one thing again, it's pretty overbought here on a bunch of different time frames I wouldn't be surprised if we cooled off and maybe retested that 50 S&A I think that could definitely happen this upcoming week because we're not just going to continue to run up day after day after day There is going to be a day like we've seen in the past couple of weeks where you know Markets cool off a bit and I do expect that to happen And if we're going to continue the uptrend after that or we're going to sell off That takes time to tell but and we'll see that here in a couple of Trading weeks, right? So the NQ very similar, right? We've been hitting all-time highs riding moving averages on the 20 day one hour chart Hitting higher highs hitting higher lows all of that different stuff the NQ on the five day five minute here You can see we hit that all-time high again today. Like I said riding 50 S&A and 180 S&A as a Support so it's really a lot of the same stuff guys I feel like I am repeating myself because the markets have really just been uptrending You know the technicals really look the same here day in and day out over these past couple of videos But you can see the NQ old resistance was at about 7900. We broke that Held it as a new support, right? And it seems like we did solidify the bounce on that level as you guys can see Pretty much right here, right? You guys can see we broke out of it Pop below it or rather pulled back towards it to retest it as a new support and we bounced on it You know today and yesterday and now we're popping up and we're about 67 points above that level riding the 50 S&A Which is a very very good sign. So overall guys the markets They're uptrending hitting all-time highs green and day after day It feels like and that is really it for the market update for today's video What do you guys think down below is the market going to cool off? Is it overvalued is the rate cut rate cut going to come and then Market drops the markets going to drop. What do you guys think about it? I would love to know what you guys think shoot me a comment down below So let's talk about very quickly a trading update today and honestly guys I did not do any trading today today was one of those days where I had a plan in the previous day Yesterday you guys saw in yesterday's video. The title was is you guys going to be a Dip by well my whole idea and for today's session was to trade You guys and when that kind of didn't play out and a lot of the other stocks I was I was watching none of them really ended up playing out in either the the ETFs didn't really play out either You know when I saw that I figured maybe take it easy, you know I did well the previous couple of days this week Take it easy, you know things didn't play out and I just didn't end up trading and going back to what I said With you guys, you know you guys played out perfectly But the thing is guys, you know I missed the move because the move ended up happening Overnight right and that's one thing that sucks because if you don't buy in The previous day and you don't hold overnight a lot of the time these moves They happen overnight and if you didn't buy the previous day, obviously You can't really capitalize unless you buy pre-market and I didn't buy pre-market In this case and you can see, you know the run-up from $18, you know from yesterday If you were to buy yesterday at close and buy, you know in the morning like I said, you know in yesterday's video This was a good looking dip buy, you know if you were to do that and I personally didn't again You know, you would have made an 8% pretty much overnight swing Which is ridiculous But me personally my rules that I have on myself are You know not to hold these volatile 3x leverage gtfs overnight because a lot of the times, you know instead of Running up like this, let's say I were to buy and then it sold off 8% And I wasn't able to get out until the next day, you know I would have lost a lot of money in that case So I avoid holding these because they can run up 8% and also they can run down 8% And you can end up blowing your account that way So I simply like trading these during the day and since I didn't get that move today during the day I just didn't trade today guys to be completely honest with you all so that's it Honestly, did you end up trading today guys? Let me know down below in the comments if you didn't if you did what stocks you traded I would love to know so overall, you know this upcoming week guys There are some ETFs and stocks on my mind just like there always are guys You know that I'm a big stock guy obviously you guys see the channel, right? So I'm thinking xop right now this one isn't an interesting spot So xop is an oil and gas ETF and there is a pair of inverse ETFs that trade based upon it, right? And those are gush and drip so whenever xop is going up That is when gush is going up at a 3x rate and whenever xop is going down Drip is going up at a 3x rate. So take a look at xop right now. It's kind of in a crossroads, right? There are two directions. It can go at this point. It can break out above the 180 sma Which would be a ridiculous bullish move or it could get rejected here and then dump and continue the overall downtrend that it's been on here on the 180 day for our chart and notice how if I draw some trend lines here xop is kind of in a wedge right now. So this is interesting It's in a wedge and it's also trading below the 180 sma. So this is going to be one where next week It's going to pick a direction whether it's up or down and we're going to I'm going to be looking to capitalize on Whichever etf does well. So let's say we break out to the upside here Gush is going to be a very good play right because this one goes up Whenever xop is going up like we just said and that would actually trigger gush to go above the 180 sma resistance Which would be a very bullish move and let's say xop were to dump and continue its overall downtrend You know drip is going to be the one i'm looking to play which goes up whenever xop is going Down right so that is one You know etf an inverse etf combo that i'm watching, you know very very heavily here crude oil It's still stuck on this 60 level support one thing i'm liking about it is it's holding it as a new support That's a very good sign that it wants to fill the gap to the upside And I and I also like the r side is cooling off a bit and actually getting closer to You know this trend line that I have drawn out here on the r side chart So this could be a pretty good sign if the r side pops a bit the cl future here Picks a direction it starts to pop up to the upside That could be a good sign that it's starting to fill the gap and hopefully this doesn't happen over the weekend Hopefully we can capitalize on it on monday, and if we do crude oil fills the gap up to 62 63 dollars UWT here will be going up at a 3x leveraged rate This will be one that i'm going to be watching UWT it goes up whenever crude oil is going up So those are just a couple here that I am watching apple amazon, of course These are ones that have been absolutely on fire at this point amazon You know didn't really do much today actually went up 0.5 percent that is pretty good for a single day But not really as much green in amazon today as there has been over the past couple of days It's honestly cooling off at this point. So we might see a sell-off to 1960 if we see that sell-off We hold that 50 sma. This could be a gap fill up to 2020 that could be a pretty good move there We saw apple today. It's hovering in between that 200 and 210 dollar channel here If we break above 204 that could be a move where it's bullish We might be filling the gap up to 210 that could be very possible And you know if these markets continue to run up, which is very possible here, you know as the anticipation of a fed federal reserve Interest rate cut comes, you know tqqq, which is a nasdaq etf It goes up three times whenever the nasdaq is going up So let's say, you know nasdaq's up 1% tqqq would be up 3% You know, this is one that i'm heavily considering trading and one that i'm always watching as these markets are You know continuing the uptrend and let's say we dump. Let's say the markets take a hit sqqq Is what i'm going to be looking to play this goes up whenever the nasdaq is going down So those are a couple that i'm watching here this upcoming week guys I hope you all enjoyed this video if you did feel free to go down below and hit that like button Let me know down below in the comment section what you enjoyed about the video What stocks you're watching what stocks are trading and what are your thoughts on the stock market right now Don't forget to subscribe to the channel. Don't forget to follow me on instagram Enjoying the strive smart discord group chat and the strive smart facebook group all of those links are down Below and if you guys want to see me build a stock market portfolio from absolute scratch I'm doing that on m1 finance, which is also linked the playlist to that series is linked down below in the description box So i'll catch you all in the next video. Thanks again for watching. Peace out