 What is going on everybody? It's Stats here. Welcome back to another video. So in this video We're gonna 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 ended up doing today on the 6th of June in terms of my trades as well as taking a look at some other Stocks and ETFs that I'm personally watching and keeping my eyes on for potential trades Over these next couple of days here in particular Tesla stock as you guys saw in the title of today's video Tesla stock has been very interesting recently and we're going to be talking about that in today's video But before we do get into the topics of today's video all I ask from you guys out there is if you enjoy the content here on YouTube Simply go down below and hit that like button It really does support me and supports the channel in general and I do appreciate every single one of you guys out there doing that The community we're building here the strive smart community is absolutely amazing and I'm so grateful for every single one of you Guys out there, you know watching these videos following along subscribing hitting that like button, you know Interacting within our community. It does mean a lot to me. So without further ado, let's just talk about the Continuation as you guys can clearly see here of this rally that we've been seeing of in the stock market, right? The S&P 500 the SPX the 500 largest publicly traded US companies ended up closing the day up today 17 points here up point six one percent the Dow Jones industrial average up a hundred and eighty one points here up Point seven one percent at the close the Nasdaq here had a pretty good day as well It's it's currently down 15 points But remember this eat these are the futures here So if we go to the one day one minute very quickly so we can see we ended up closing nearly at about 7300 actually know that it's not right. We ended up closing at about 7283 so about give or take 15 20 points above from where we are right now But nonetheless, it was a green day throughout the major indexes the three major indexes that we talk about in track on This channel so pretty good guys pretty good day today It didn't turn out the way that I personally thought it was if you guys watch my view my video earlier today I thought the market was setting up for a Sell-off, but just because we did not get that sell off today guys I still I'm not changing my opinion on That I still think the market is going to sell off and continue its sell-off here in the next couple of days We just did not get that sell-off today, but that's okay. We're going to break down The technicals here what I'm personally seeing what I'm keeping an eye on and kind of my thoughts just heading into these next Couple of trading days so you guys can clearly see here on the one day one minute We continued the uptrend from yesterday and from the past couple of days here on the S&P 500 Notice on this five-day five minute the past three days one two three They've been straight up beautiful bull run in the past three days has been what we've been seeing right? We broke out of these SMA resistances here on the five-day five minute and from that gap up that we saw It's just been straight up green going over here to the 184 hour chart We notice how we are still trending below that 180 SMA Resistance here, and we're actually seeing a bit of Rejection right here as you guys can see the candlestick here notice how we popped up a bit now The candlestick is closing below that 180 SMA here heading into the close of the market That is a pretty decent sign But not fully confirm the rejection quite yet What we would need to see in terms of a rejection on this 184 hour chart on the 180 Under the 180 SMA we would need to see you know in my opinion going back to this five-day five minute We would need to see a full-on break of these support levels under the 50 SMA and the 180 SMA if we see that break on the smaller time frame chart on the larger time frame chart We'll be getting rejected as well And it's super important again like I mentioned in every single video to keep an eye on multiple different time frames So once we do get that push down here as indicated by the trend line, you know on the longer-term charts We're going to be getting rejected under that 180 SMA and we could potentially from that point in time If that does end up happening Continue the downtrend that we've been on over the past I guess you can say month at this point because it has been a month that tweet that Trump sent out in the beginning of May That kind of started this whole Sell-off that was in the beginning of May and now it's the beginning of June So it marks about a month that that's been happening the sell-off has been Happening so at this point in time guys, let's take a look at the resistance. We're coming up on right now Actually, we're right at that point at about 2850 on the SNP 500. Notice how ever since we broke above 2800 again, like we saw we've been rallying now We're getting to a point of resistance from back towards the end of March in 2019 right before that big Hall up to the all-time highs from there. We sold off we broke 2850 making it a Resistance right and that's exactly where we are right now So I'd watch and see, you know, if we break out of here tomorrow, that's going to be a pretty good Bullish sign because at that point we're out of the 2850 resistance and we're also out of the 180 SMA resistance. That's a pretty good sign for you bulls out there and Exactly the opposite for the bears, right? If you're a bear what you would want to see is a rejection here at 2850 and a strong gap down and a rejection under that 180 SMA Resistance here. So those are just a couple of things that I'm watching right now I know I've been saying this but it's still true Even though we've been rallying for three days the downtrend is still intact guys Don't let this confuse you the downtrend is still 100% intact just take a look at that trend line I just drew if we break out again of these up of these two resistances that I just talked about That's going to be on a technical basis a pretty good Break of this downtrend pattern, right? So going over here to the Dow Jones industrial average notice how just like the S&P We're also trading under that 180 SMA resistance here. We're trending now above the 25,500 level of support we're now in the channel between 26 200 being the resistance and 25 500 being the support So we're in about a 700 point Zone right now for the Dow Jones industrial average kind of hovering in the middle of that and notice how the 180 SMA is actually Right in the middle of that horizontal channel that we're trading into right now So tomorrow keep an eye, you know, are we going to get rejected by that 180 SMA? If we do that's going to signify the continuation of the downtrend in my eyes And especially if we break below 25,500 dollars if we break that level of support and then we get into this next horizontal channel level from 25 500 to $25,000 flat that is also going to be a good sign that the Descending pattern is continuing for the Dow Jones industrial average So going over here now to the 20 day one hour chart, you know, we broke out of the 180 SMA Resistance here, which is a pretty good sign, but notice how? drastically overbought The RSI is shown that's right now. It's pretty pretty crazily overbought right now It's literally at the 80 level and for those of you guys that don't know about the RSI you want to learn more about it I have a dedicated video talking about the RSI. It's about 15 minutes long. Just type in star surface RSI indicator into the YouTube search It'll pop up and you guys can see how important of an indicator that is and how I personally use it But really a brief analysis of it is whenever it's overbought that kid gives me kind of a Warning sign, maybe it's not the best time to hop in a particular stock ETF future or index we might need to wait for it to cool off a bit and You know before hopping into it and guys again our side It's not the only one that I use in terms of an indicator never use just one indicator to base your decisions But it's a bunch of different indicators You used in unison that making decisions off of that, you know unison a couple of Indicators in unison is the best right? I'm sorry if that kind of came out weird But you just have to use a bunch of indicators. Don't just rely on one. That's kind of the the synopsis, right? So Dow Jones, that's kind of what I'm looking at right now longer term We are still under the resistance levels, but if we start to go to the shorter term Timeframes we're starting to see a breakout, but again be careful. We are very overbought. So the NASDAQ here the e-mini NASDAQ 100 index going on the 184 hour chart here. Let's see if we're also trending below Yes, we are still trending below the 180 SMA resistance We actually have quite a bit to go until we're even near that level of resistance at this point But I guess it's safe to say especially since we had a stronger date today. Yes, that did rhyme that did rhyme We did break above that 50 SMA So I guess it's safe to say right now that we are getting out of that level of resistance We held it as a support. It's looking like we're popping up So now we're out of that level now We're out would be looking to see if we possibly get rejected is where we are right now Notice how where we are right now. We actually got rejected here a couple of days ago towards the end of May on May 30th We got rejected at this level and we also got rejected at this level or actually We held this level as a support back on the 23rd of May So that makes this level a pretty strong level of support for the our resistance rather at this point for the NASDAQ So keep an eye, you know, if we break out of this level of resistance the next spot We're going to be potentially heading to is seventy three hundred Seventy three hundred dollars flat from there. We may be going up to seventy three fifty and at that point We're going to be super close to that 180 SMA Resistance, but just like you know the Dow and just like the S&P notice how on the smaller time frame charts guys The NASDAQ is also a bit Overbought so that's something to also keep an eye on for Tomorrow well, it's not really overbought on the five-day five minute Mostly on the 20 day one hour. It does seem a bit over but not as crazy over bought as the Dow was But still it's more over but then over sold so at this point in time guys the markets They've kind of just been really funky to me, right? I talked about it earlier in today's video You know, we're kind of running here on no premise whatsoever We got some news about a potential Federal Reserve rate cut Which you know that does pump a lot of optimism into the stock market But we haven't gotten definitive news that this is going to happen 100% right and even if it does happen right like I said earlier today and yes and earlier today's video You know, it doesn't negate the fact that we're still in a trade war We're still at a point in time where the economic cycle is nearing its end We're at the 11th year almost of a bull market right now It doesn't negate the fact that we're in a tariff war now with Mexico Those tariffs plan to go higher and higher month after month after month, you know It doesn't negate all of these different Negatives in my opinion that are occurring right now in the overall Economy that have a huge weight on the stock market, which kind of makes me believe, you know This is not a rally that I am hopping to buy stocks in for swing trading, right? I'm not looking to you know buy into this quite yet because honestly, even though we had a strong green day today I'm not changing my opinion on the fact that I think me personally again Don't just view this as fact just because you're watching my video, but I still think We're in a bull trap right now. I'm not really, you know, jumping to buy anything I still think we are in a bull trap. I still think there's more downside to come. So I'm just being very cautious, right? I'm not swing trading anything quite yet, you know I'm mostly sticking to my strategy of day trading these market ETFs like I talk about in You know every single video at this point, you know in the volatile markets I've been trading mostly these market ETFs and then these inverse ETFs that you're seeing and that's personally You know what I'm doing, right? I'm not looking to swing trade the apples of the world's the Facebook's the Amazons You know some of these, you know stocks that got battered But now they're coming back a little bit just because the markets are coming back, you know I'm not looking to fall into that Trap and sure. Let's say it's not a trap. Let's say markets move up 5%. I miss out on some money It's okay because it's the principle of sticking to my guns, right sticking to my gut and Just following through with what I'm setting out for myself, right? That's what I'm doing here and I'm okay with it I'm comfortable with it. So let's talk about what I ended up doing today Then we'll talk about Tesla very quickly then we'll talk about some other stocks very quickly as well Then we'll wrap up the video. So Tesla stock actually know let's talk about what I traded today today Was a red day for me guys today as you guys saw in the morning video earlier today video the afternoon video I was looking to trade some of these short ETFs this morning the sqqq ETF and SPX sets both of these that go up when the markets are selling off and specific the Nasdaq and the SPX and short story Long story short. I hopped into sqqq kind of ahead of time. I kind of jumped the gun on it a little bit You know antsy on this trade for me I got in a bit early and the markets never ended up selling off obviously as you guys can see NQ ended up going up SPX ended up going up Dow ended up going up Hence why this ended up going down 2.33% and hence why I took a loss today And hence why today was a red day for me, but it's okay. It's okay guys And that is what ended up happening today and more specifics here You know, I kind of got caught in this little trap this morning We notice how the markets if we're going to the NQ really quickly. Let's see where we were this morning 9 30 We notice how we started to sell off into the market open right here, right? Notice how 9 39 a.m. We were at about 72 50 on the Nasdaq. We sold off to about 7200 about a 50-point drop 40 50-point drop in an hour and this kind of caught me in a SQQQ trade where I thought markets were going to sell off. I was getting in at a good point and from there I entered in SQQQ Q on this little sell-off on NQ and then what happened to NQ guys? It reversed heavily to the upside bringing down SQQQ and hence why again? I lost money So that is what ended up happening today wasn't a crazy loss again for all you that follow me for a while Your new viewers out there that may not know this. I'm more conservative. I'm not Cutting my losses at like three four percent. I'm not giving it especially these inverse leverage ETFs that are very volatile I'm not giving them an insane amount of wiggle room, right? Like I would give maybe a Coca-Cola stock or a J&J stock That's not as volatile these are extremely volatile these inverse ETFs and I'm very strict on my loss cut on my loss cutting right because I don't want to lose a lot in my account if You know, I simply just let it go right because I would be down three four five six percent whatever I'd have to cut losses and that's very detrimental to an account value. So again We saw it popped up from nine thirty to ten thirty. I got in right around here somewhere like forty two sixty You know, I was looking to fill it up fill the gap up to at least forty three dollars from yesterday before selling We did not get that obviously I could have sold for like a point three percent profit if I timed it perfectly But I didn't we started to dump very aggressively and then once we started to break below You know this level of support here, you know I just decided to cut losses and I think my losses were about like one percent Maybe like one a little bit less than one percent is where I ended up cutting my losses today on s QQQ and from there, you know, I kind of wanted to see what the markets were going to shake out like today, right? I didn't want to just force anything else. I was kind of just a spectator in the market After that loss and that's just me being real with you guys I'm not looking to force a trade after a loss just simply because I took a loss and I talk about that a lot Whenever I take losses, I go back. I think okay. What happened here? What went wrong? You know, I write down some notes. I figure out, you know, what did I do? It wasn't my fault was just the market a rational market, right? And I figure out what I'm going to do and I just watch the market from there And that's what I ended up doing didn't really see any other plays any other opportunities Didn't want to force anything. So that's pretty much it guys s qqq Although I did take a loss today I'm still watching this one for my theory of the markets potentially selling off here Maybe over the next couple of days. Who knows guys and if they do sell off I'm sure I'll be able to get back Recoup my loss and make a ton more on top of that if my theory ends up playing out So let's talk about Tesla today Very quickly you guys saw in the title of this video today is Tesla finally finally breaking out So that is kind of a question right now but I've been getting a lot in the discord on Instagram messages Discord private messages Tesla Tesla Tesla Tesla if you're in the stock market community on YouTube I feel like everybody's just been publishing Tesla videos and here's the Tesla video for you guys, right? So Tesla, you know, this stock has been on an absolute roar over the past couple of days Literally since the market has recovered Tesla has been up 30 points. It's ridiculous guys ridiculous 180 points on Monday literally was this Monday or Tuesday Monday Tuesday, whatever Tuesday It was at $180 and it went all the way up to a $200 $211 so that might be even more than 30 points. No, that's actually exactly 30 points so this has sparked a lot of interest in a Potential Tesla trade right and people have to understand that this seems like it's just moving aggressively to the upside because of the overall market moving aggressively to the upside as well, which kind of concerns me because if This theory that my theory of the market selling off plays out This can end up dragging Tesla stock back down to the 190s maybe back into the 180s or maybe back into the 170s, right? So this is something that is scaring me. You know, I'm not jumping the gun right now on Tesla whatsoever and if we're going back to the 184 hour chart, we're noticing, okay The past three days we saw the crazy rally that brought us above that 50 SMA resistance. That's a pretty good sign Right, that's been a resistance over the past couple of months. There's no denying that, right? But notice how we're still trending under the 180 SMA as you guys can clearly see right here, which has also been a Level of resistance for Tesla and until we get out of there like I've been saying guys Religiously over these past couple of months until we break that level of resistance to you know I'm not touching Tesla whatsoever, right? We know now the narrative of Tesla in the overall stock market from analysts from the media from just regular retail investors A lot of people out there the narrative there is just very negative for Tesla A lot of people are viewing Tesla very negatively right now We notice their previous earnings report was awful, right? An awful loss on Tesla stock you guys can see you know on the day they reported earnings You know the stock literally went down from like 262 to 225 in the matter of a couple of days after they reported earnings and from there It's just been continuously falling. We saw Model 3 production numbers They weren't up to par with what people thought and now for the narrative to change in Tesla Like I mentioned in previous videos, we're going to need to see one of two things We're going to need to see a killer a killer number in Production for Model 3 for other vehicles. We're going to need to see on the second note a positive Earnings report right whether it's a profit whether it's just beating the analysts But still recording losses, but just beating what the analysts were expecting You know that's going that's what we need to see at this point to change the narrative of Tesla Profitable quarter a beat from analysts, you know some crazy production numbers some new news regarding the Shanghai factory Whatever if that factory starts pumping out a crap ton of cars in the next year, you know that could be a very positive catalyst for Tesla and once we get the catalyst guys, we will know trust me on this We will know because all we will need to do is simply look at the chart Right if we look at the chart and we see the positive catalyst What will the stock do most likely most likely not a hundred percent exactly though for sure But most likely it's going to break out of these moving average Resistances and from there that's a very bullish move and from there guys with the positive catalyst Who knows we may be rallying with Tesla there and that's just personally what I'm waiting for right now And from there I'm looking to swing trade it if that does end up happening So that's kind of my spiel right now on Tesla It's it's kind of following the market in a way over the past couple of days It's still down trending still trending below the 180 SMA and the narrative right now very negative We need to see some positive catalysts to push Tesla up and change that Narrative so that's my opinion there on Tesla I would love to know what you guys think about that down below in the comment section Now for a couple of stocks that I'm watching for tomorrow. We saw amd today guys. Oh my goodness amd 8% day today and remember how we were talking about over the past couple of weeks and months on amd stock It has been struggling to get out of $29 well We finally got out of $29 into the $30 level and now we broke into the $31 level And it's looking like we want to test those all-time highs back at I do believe 33 60 was the all-time high Let me double check that nope. It was not it was 34 14 So now I would love to see a pullback on amd the RSI is overbought I would love to see it cool off a bit and from there that could open up a potential entry point right now On amd maybe at $31 that could be a good spot Maybe if it sells off to $30 and 75 cents that could be a good pullback enter for entry for Advanced micro devices looking for that right now again It's very overbought the cool-off pullback will be ideal here for an entry point. So amd guys That's my personal opinion on that obviously Tesla I'm watching Tesla guys as we talked about earlier Tesla. It's still down trending But if the markets push up again, who knows Tesla might follow and we might get closer to that 180 SMA Resistance on that 184 hour chart. So this could be a gap fill play up to 210 maybe to 225 not 225 maybe 215 that could be a play right there as well Some actually haven't talked about gold in a while gold has been on an absolute Terror recently which also kind of worries me about the entire Market in general you got you guys have to realize when the markets are Getting kind of shaky when people start to lose confidence in the markets, you know the stock market What do they do? They start to buy some Metals right precious metals. They start to buy some gold They might start to buy some silver because a lot of people view these as Hedges in a stock market crash and a lot of people think there is a stock market crash on the horizon and That can be why gold is shooting up, right? We notice all the trade war stuff's going on tariffs global economy if he right if everything's a bit iffy right now That's causing a lot of uncertainty in stocks people are flooding into gold hence why the big pop-up here in gold So gold right now. It's at a resistance. I say if we do break 1350 we couldn't be pushing up to the mid 1370s maybe maybe 1380 that could open up a very big move on Jane up. So Jane up is one that I'm watching here. It's been on an absolute tear Seems like we are holding that eight dollar and 20 cent level of support So just keeping an eye on it to see if it does continue this uptrend. So Jnug JNU G there natural gas a lot of people have been asking me about natural gas here You know, it's clearly been clobbered. It hit 230. I believe today Going on the 20 day one hour, you know, I've been getting questions about you guys What I need to see for a play on you guys, which goes up when natural gas is going up We would need to see a break out of this 50 SMA resistance That's been a resistance over the past couple of weeks here So if we get that that could be a very bullish move on natural gas We will be able to get into you guys there for a pretty solid move also today. We saw XOP is slowly starting to flatten out. So today we saw that we held a support from yesterday on XOP So I would love to see, you know If this starts to pop up above the 50 SMA of resistance, this could be a play for gush Which goes up whenever XOP is going up. So I'm keeping an eye on gush tomorrow and drip You know drip will go up if this sells off and if this Aggressively sells off tomorrow. Let's say the markets in general sell off XOP will most likely follow and drip will be a very good play for tomorrow. So overall guys I'm watching a bunch of inverse ETFs again and specific the gold and crude oil ones I'm watching again. I like always these market ETFs SPXS, SQQQ, TVIX, UVXY, TQQQ as well as QQQ and Tesla and AMD are two stocks that I'm also watching. So I hope you guys enjoyed this video If you did feel free to go down below and hit that like button drop a comment Let me know what you guys think about these picks. What do you guys think about the market right now? And most importantly, what do you guys think about Tesla stock? That's the talk in the stock market community Tesla has been at the top of the headlines I would love to talk to you guys down below in the comment section if you guys want to Join our discord chat and our Facebook chat both of those are linked down below in the description box 100% free of charge. I'll catch you all in the next video. Thank you all for watching. I appreciate you guys so much peace out