 What is going on everybody as Stas here welcome back to another video So in this video, we're going to be doing an overall market update looking at the Dow Jones the S&P 500 and the Nasdaq We're going to be talking about one trade that I made today on the 7th of February in 2019 As well as taking a look at some other stocks and ETFs that did very well today and that I see potential in Over the next couple of days So for all you guys out there that do enjoy the videos that do find value in these videos Feel free to smash that like button It really does help the channel grow and I really do appreciate all you guys out there for watching these videos Subscribing to the channel and of course Smashing that like button so like you guys read in the title of today's video We finally got that red day that we were waiting for it started off being pretty bloody of a day Right. It was a pretty bloody day to begin the day and heading off into the middle of the day Then we ended up closing the day, you know on a nice little upswing which often does happen Whenever we start off the day very red But to get into the details here the SPX also known as the S&P 500 the 500 largest US Traded companies was down around 25 points down around 0.94 percent at the close The Dow Jones was down around 220 points down around 0.87 percent at the close And the Nasdaq here guys got hit the hardest down around 1.25 percent down around $87 and 75 cents at the close about 16 minutes ago from the time that I'm recording this video So let's talk about The SPX very quickly before we do hop into these under other indices here And before we do talk about what I traded today and for all you guys out there that did watch my video yesterday I was talking about this resistance on the one year one day chart for the SPX and video yesterday It was titled is the S&P get 500 getting rejected And this is what I was talking about in yesterday's video and it ended up getting rejected today even further With this red day that we had so go check out yesterday's video If you haven't watched that one already, but pretty much guys. I was talking about how you know We saw the SPX Forming a little red candlestick right under the 180 SMA here on the one year one day chart Talking about how this was a potential Resistance spot right we were talking about the death cross here the 50 SMA crossing below the 180 SMA We were talking about the RSI being extremely overbought and we were talking about this red candlestick right here Forming towards the close of the market yesterday right under the 180 SMA So there was a couple of different You know indicators letting us know that we could potentially be getting rejected, you know right here And of course like we saw today guys, you know the SPX was down around 1.4 1.3 percent at its lowest We closed that around 0.9 percent. We officially did get rejected, but you know by that Resistance so you know just because we got rejected by that resistance guys That doesn't mean that we broke the down trending pattern quite yet Because if we take a look a little bit closer here on some of the closer time frame charts This one being the 90-day two-hour we can see you know It's looking like the SPX is continuing that uptrend pattern towards the end of the market remember like I said, you know We ended up opening the day Pretty red it got pretty bloody heading into the middle of the day And then we start to see a bit of an upswing towards the middle of the day and what did that upswing do well that upswing Held above that 180 SMA or was it the 50 SMA the 50 SMA on this 90-day two-hour chart So technically guys, you know the SPX is still uptrending although it did get rejected on That larger term time frame chart that one year one day, which is why I always tell you guys and I do this myself Look at a many many many different time frames Look at all the time frames if you have to when you're doing your technical analysis because we could be getting rejected on the one year One day which could signal. Okay, we're down trending But if we're looking at some different time frames here like the 90-day, we're gonna see okay. We're not quite yet down trending We're still holding this, you know support on the uptrend, you know on the smaller time frame, you know chart And it really does give us it just gives us different stories when we take a look at different time frames And it just gives us a better understanding right of you know, what's going on, you know in the overall stock index, you know ETF future whatever you're doing your analysis on so why I deleted that well Just to show you guys that it's still holding that uptrend of higher highs higher lows and again heading into the close guys We do see some green candlesticks forming on top of that 50 SMA which could indicate guys You know, we could be headed back up in terms of the SPX tomorrow, right? And that's not you know What a lot of people want to see a lot of people want to see more red to come, you know, including myself here I'm kind of bearish on the markets But you know right now we could potentially You know push back up based on these technicals, but of course it's always good It's always wise to keep an eye on the future as large cap stocks pre-market hours to see whether or not we are breaking This resistance or are we heading or support rather or are we bouncing above it and heading back up? So we can get a better idea of what we're going to going to be trading for that particular day So guys, you know based on these technicals, we could be headed back up tomorrow But again, you know stock trading is not all technicals There are you know some news some fundamentals that do affect what we end up trading So if there's some news that comes out tomorrow that pushes stocks lower, you know If we break that technical barrier tomorrow that support, you know We could be headed back down for even more red in terms of the SPX but this pullback It really did bring the the R side level down a bit to a reasonable spot at around 50 Points right here. So honestly, we could be going either way tomorrow guys drop a comment down below Let me know what you personally think about this. Are we gonna continue to sell off? Are we gonna be holding this 50 SMA here on the 90-day chart to continue the uptrend? Who knows guys, what do you personally think? I personally think you know judging off these technicals that we could be headed back up tomorrow, right? But I could be wrong, you know once we see these futures once we see, you know These large caps pre-market hours will get a better understanding a better idea of, you know Where we're going to be headed tomorrow. So Let's talk about the Dow very similar here with the SPX guys, you know We're holding that 50 SMA here on the 90-day two-hour chart really still holding that uptrend of higher highs Higher lows in terms of the Dow Jones on the one year one day We talked about how yesterday that we already saw this one break above the 180 SMA This was not really a resistance because like I just said we broke above it But now we're seeing a pullback and potentially seeing the 180 SMA acting as a support level Right now, you know for the Dow Jones on this one year one day chart on the 180-day chart here We do see a nice pullback from that resistance from a couple of weeks back at around 25,500 we're pulling back here to around 25,100 right now with the strong green candlestick, you know towards the end of the day because like I said guys You know typically not always but typically when we do have a strong red day to begin the day We do see something like this happen meaning that we do see a bottoming out point Maybe towards the middle of the day Maybe towards like, you know four or five hours into the market and then we start to see some recovery heading into the close You know, this happens all the time, you know I would say about 70% of the time when we sell off heavily, you know in the beginning of the day We end up seeing this right now. This pretty much happens a lot guys, and you know the fact that it did happen That's holding it above this 50 SMA that we just talked about and really, you know It could continue this pattern guys if we do end up, you know Having a strong push and some large cap Dow stocks tomorrow Which could end up happening based on this technical analysis of the Dow but remember guys It's not always about technicals some fundamentals do play a role here in terms of short-term trading Don't just judge all your you know all your trades all your picks for stock trading day trading swing trading Just off technicals You have to you know dig into the news dig into the company sometimes to get a better understanding and of course during earning season Right, you got to be aware of what companies are reporting earnings because if you're just blindly trading stocks Let's say you were trading EA sports for example, right or EA. It's not EA sports EA arts What am I saying EA? You know the comp this company right EA? Let's say you were trading this one You know right here without knowing that there was earnings the next day, right? Let's say you were just blindly trading stocks You know trading this stock in particular not knowing there was earnings You would have got crushed because this one went down 17% so all you guys that are beginners out there You know keep an eye on what stocks are trading and understand what is going on with that stock, right? Is there a big buyback? Is there an earnings report? Did they get their guidance cut? You know you got to understand these different things because they do play a role in short-term trading Especially guys so you know the Dow guys very similar to what the SPX is looking like is holding that up trend and Really what we want to see in both the SPX and the Dow for the continuation of the downtrend is a break of this 50sma that would be a very very good sign for more red to come So the NASDAQ today guys got hit the hardest because tech stocks in general Did very poorly today, right? We saw Apple down about three dollars Facebook finally got that solid solid pullback that we were waiting for today and in general guys It's looking like the NASDAQ is holding that Support in this channel that we were talking about in the previous couple of videos, right? I remember I was talking about about how the NASDAQ was trading between 6600 and 6800 this channel right here. Well, it broke out of that channel It was looking like we were trading in this channel for the previous couple of days after we were Consolidating on it as a new support and once we popped up and now with the pullback It's looking like we're right at that support again So tomorrow keep an eye on this 90-day two-hour chart Keep an eye on whether or not we're gonna break this support break the 180sma and head to the downside Or are we gonna hold this and continue to push up and trade within this channel yet again guys But it let's say tomorrow. Let's say we break back into like, you know, the 68 $6,700 range, which is a pretty big stretch there because that isn't a hundred point loss But let's say we start to push back down, you know and test, you know, maybe the 68 50 68 30 level That's gonna be a good sign that we're heading down We're breaking out of this channel right here and we could potentially break the 180sma Which has been a support over the past couple of weeks Which would be a good sign of the continuation or the start rather of a downtrend in the NASDAQ So that's what I'm looking at in terms of this closer term chart here on the NASDAQ On an even closer term chart. We can see you know with this pullback today We are holding that 180sma as a support and again We want to see the break here for the continuation of that downtrend and always take a look at multiple charts guys I can't stress that enough and if we're taking a look at this one year one day like the SPX Not like the Dow right this one also got rejected by the 180sma here today And that is a very good sign guys that we could potentially see some more red to come especially with this You know 50sma across to the downside You know which does indicate some bearish sentiment in a stock ETF index future whatever we're trading It could indicate some more downside to come. So like I said guys, you know Facebook Apple They all did pretty poorly today Apple down around 2% Facebook was down around 2.5% You know Google was down a decent amount today 1.5% You know Microsoft was down around 1% today and this pretty much weighted down the NASDAQ over the other Indices that we do see here. So, um, you know, that's what it's looking like in terms of the overall Markets solid red dates today, but the major indices guys They are still holding their uptrend right now and we want to see those critical resistance breaks for more red to come and Or support breaks rather we want to see them break those supports From for more red to come and that's what I'm honestly waiting for over these next couple of days So what did I personally trade today guys? Well, we saw there was a big red day today So guess what I traded guys I traded? TV IX and I'm sure all you guys probably already guessed that I typically trade this every single day that I see Red potential for that day and today was one of those days guys, you know, we saw the indices, right? They were red for a pretty good chunk of the day opening up a pretty solid day for TV I X and I traded this one after this first big pullback that we saw from around $38 all the way down to around $36, you know, I waited, you know at this point guys We we popped up pretty quickly in the morning This was when the SPX was first starting to sell off pretty aggressively here And then we saw some buying power some push up in terms of the SPX And then once this was getting more overbought on the RSI and we started to see it approaching this Resistance here. I wanted to see whether or not we were going to start selling off more and this honestly just opened up a good You know profit margin good opportunity and TV IX because remember guys whenever the SPX is pushed Up that's when TV IX is going down in price, you know becoming more oversold and have really just having more Margin of profit open to it, right? So we saw that and then we saw you know the pushback up here in the SPX opening up that margin like I just said So I wanted to wait until TV IX found its bottom before starting to build a position here guys And how I waited to see that was a we wanted to see it find the low of the day Which was around thirty six dollars and ninety two cents and the next thing I wanted to see was it to make a higher low? From that spot because let's say we pushed up here got rejected and started to push back down and Potentially broke below this for a lower low, you know, that's not gonna be a good entry spot That's not gonna be what I want to see and a stock ETF index future before entering it What I want to see is I want to see it push up pull back and make a higher low Which it did right here at around thirty seven twenty and this is exactly when I when I ended up building my position Right around thirty seven dollars and forty cents is when I started to add my position in TV IX Put a little bit more here at around thirty seven dollars, and I believe Seventy cents is when I started to put more and then that's when I ended up putting my my limit order on TV IX at about two percent and pretty much got my two percent profit on TV IX for the day, right and we saw I probably could have made a ton more money Honestly, if I got in, you know right around let's say my average cost is right around here two percent, you know I got out at around thirty eight dollars roughly, right? I could have made ten percent Maybe like eight percent on my position if I did end up holding it before all you guys that know me my Trading style that have been following me for a while now, you know, I'm more conservative, right? You know, I don't like to grab, you know, I don't like to chase huge profits, right? I like to keep it consistent Conservative because with my experience guys trading, you know not going for the home run trades all the time not trying to get 10-20% on every single trade this has led to me being more successful in my experience, especially with Consistency, which is what I really like, you know Which is what I really like to work on in terms of trading, right? Because I don't like to have you know a very good day one day the next day I do crap the next day I do crap and then I try to hit a penny stock home run trade get 20% back, you know, I don't really like doing that, right? I like to keep it very small very consistent and risk-managed guys I like to risk manage with stop losses sometimes mental stop losses, right? Meaning like you're watching the stock actively If it goes below a certain price you cut losses automatically that some that sometimes what I do other times, you know When I'm swing trading I like to set concrete stop losses, right? Which is you know putting it in the think or swim or whatever platform you're using, you know setting that order stop loss You know that will trigger your you know you cutting your losses at a particular spot, you know There's many ways that you can do this, you know mental stop losses I would say there are more for you know advanced people that have discipline, right? Because a lot of people just be looking at it and they're like no, it's gonna come back It's gonna come back and then they end up losing like 10% right so with the mental stop loss You got to really have that discipline to cut those losses, you know While you're actively watching the stock at a particular price that you know that you're disciplined enough to cut at, right? So that's pretty much the idea there and what I did today in terms of TV IX and now I have a couple tickers here on my phone That I do want to talk about and the first one guys I know you're gonna laugh at this one is Chipotle guys Chipotle ticker symbol CMG and we have a joke in the discord group chat that I pump up Chipotle stock because you know I eat Chipotle a lot and hey, maybe maybe I am pumping up the stock, right? Maybe I am pumping up the stock, but we saw they just reported their earnings Yesterday, I believe right and I didn't really look too deep into their earnings because I'm not a shareholder of Chipotle I'm really not interested and becoming a shareholder. I just really like their food to be completely honest But I figured for the sake of this video We'll talk about very briefly what they reported in terms of their earnings and we'll take a look at the stock in terms of Technicals right so here Chipotle guys. They had an extremely good earnings report clearly the stock reacted well to it It's up around 12% here at the close of the market We saw EPS on Chipotle at $1 and 72 cents per share versus a dollar thirty seven expected by analysts So pretty solid beat there in terms of their revenue guys, which again was a beat They reported one point two three billion dollars in revenue versus one point one nine Expected and their same store sales growth, which is pretty impressive was a six point one percent growth versus four point four nine percent growth Expected and if you look at you know Chipotle stock in the long run It's been on a roller coaster ride guys. We were talking about this earlier in the chat You know Chipotle stock back in oh nine after the Great Recession was thirty six dollars a share Ten years later roughly or like seven years later It's nearly eight hundred dollars per share back in 2015 and then for all you guys that have been paying attention to Chipotle stock I have been over the past couple of years. They had some problems including some recalls You know E. Coli back, you know three four five years ago and the stock went from seven fifty all the way back down To two sixty nine so it lost like sixty seventy percent of its value and from there You know, it's been doing very well over the past year now. It's back almost to six hundred Dollars guys, so let me know down below or any of you Chipotle Mexican grill shareholders. I honestly don't know Too many people that are Shareholders of Chipotle right if you're a shareholder drop a comment down below Let me know, you know, you're doing pretty well right now if you did end up building a position Two three years ago, so that's what I want to talk about today guys pretty funny there that you know The joke in the chat that I pump up the stock that makes me laugh every time someone says that but you know We obviously talked about TV IX if we do end up selling off tomorrow even more if we do break those Supports on those charts that we talked about and in the beginning of this video TV IX could do very very well tomorrow and we do notice it's at a support right now at around $35, you know, that's a pretty good sign. That's you know TV IX could be at a reversal spot right now So keep an eye on this one especially if it breaks the 50s and may tomorrow Another one I wanted to talk about that did very well today was D gas ticker symbol D G A Z yet again another double digit percentage day for D gas And this was really because natural gas is which is the future at trades based upon gap down from around 368 down to around 355 so we gap down another 10 cents roughly and that really just popped up D gas another 10% so the fact that You know we pushed to another lower low now in terms of natural gas It's gonna be really interesting to see are we gonna continue this downtrend? Are we slowly gonna start to push back up get some more momentum to the upside in terms of natural gas? Which would give you guys a very good opportunity? You know for some profit. What did you guys think drop a comment down below me personally? I haven't honestly been trading you guys and D gas very You know very much recently at all to be completely honest because they're kind of hard to predict right? Who knows tomorrow we can wake up and see it gapped up to 290 right? We see these crazy things happen, which is why I don't really like like holding ETFs overnight at all Especially the you guys D gas combo because I couldn't tell you how many times this has happened We can see it just from the chart right take a look at all these gaps right here This is literally an overnight gap up So let's say for an example you were holding D gas here thinking it's gonna sell off and it gapped up That's literally you losing 20% on your position in the snap of a finger just because it gapped up And this is something that happens all the time it gaps up a gaps down check this out It gapped down here these spaces are gaps guys right you can see you know a gap down here a gap down here It gapped up here right it happens all the time Which is why it's risky holding these overnight and why I really just day trade them that's the complete truth right? We can see let's say you were holding you guys here for a potential pop You would have got screwed because it gapped down from 317 to 290 You would have lost like 30% on your position if you were to hold overnight or over the weekend during this time, right? You know, that's why it's just very very tricky and you know That's why I don't really swing trade these or hold them overnight But tomorrow guys, you know if we do start to see a pushback up maybe to the 50s and may maybe to 265 ish, you know that could give us a good opportunity in you guys And of course if we continue the downtrend D gas could be a good play tomorrow as well So another ETF we saw did very well today was drip ticker symbol Drip this one did very very well today nearly 14% move today and for all you guys that don't know drip trades based upon XOP and XOP is an oil and gas based ETF and pretty much how this works guys is whenever XOP selling off that's when drip is going up in price So the fact that we do see a double top here formation in XOP it had a very difficult time getting above around 30 to 31 dollars as at this resistance Right and the fact that we're seeing it's breaking below the 180 SMA now It made it a lower low from the previous This could be the start of a very big sell-off in XOP Which could open up a massive margin of profit on drip over these next couple of weeks So I'm watching drip guys very closely and if this does continue to downtrend I do see a very good opportunity tomorrow in drip as a potential day trade But there's always a chance since it did gap down pretty big today that we do see some push back up tomorrow So in the short term, I'm talking like one two days, you know gush could be which is the inverse to drip Gush could be a good recovery play before we do potentially end up selling off more in XOP Which obviously would make drip the better play there So some other stocks we saw a downtrend or really just continue their downtrend and one that I was talking about in the previous Couple of videos was AT&T ticker symbol T. This one went down to actually 28 dollars today I believe like 28 90 to be exact. Let's see. Yup 28 90 So I was actually talking about a potential put option on AT&T You know a couple of videos ago due to this downtrend lower high pattern that pattern that it's on and the fact that it broke The 180s and a so let me know down below. Do you guys think AT&T is going to continue to sell off? That's an interesting one to look at in my personal opinion and what are your thoughts? Let me know and just to quickly talk about the marijuana stocks before we do end off this video Let's take a look at what they did today. Well cron guys. It had a 10% day, right? I mean did this stock is just unbelievable? It goes up 10% one day down 15% the next day It's just unbelievable, right? So cron is officially back in the uptrend guys Well, I really never broke the uptrend because it never broke this 50s ma And the fact that it held that 50s ma now, you know This does give me some opportunity or some thought rather that this could continue to push back up and maybe test 22 again 23 and maybe even push back up to 24 dollars with all the hype behind these right? So cron guys back in that uptrend with a strong 10% day today Cgc on the other hand still down trending and broke that 50s ma support yesterday had trouble getting above it now as A new resistance level had a decent day up around 1% That's really honestly a bad day in terms of the marijuana stocks if you're up only 1% Like that's crap compared to what cron's been doing, right? So, you know 1% in marijuana stocks. Ah, that's a bad day That's a very like on an exciting day or not exciting however you pronounce it however you say that but You know excuse my grammar guys So what do you guys think you think cgc and cron do have potential to continue the uptrend or you know Get back into some green territory over these next couple of days. I would love to know so drop a comment down below Let me know what you guys ended up trading today. Thank you all for watching these videos subscribe to the channel If you're new turn on that notification bell if you want to be notified every time that I do make a video I'll catch you all in the next video. Peace out