 What is going on everybody it stops here welcome back to another video so in today's 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 going to be doing a trading update talking about what I personally did today in terms of my trading any day trades Any swing trades we're going to be talking about that in today's video as well as my mindset my outlook some stocks Personally watching and what I think is going on right now in the overall stock market So before we do get into that guys all I ask from you is if you enjoy the content here You find the content valuable feel free to go down below and hit that like button It really supports me and supports the channel in general and if you're new to the channel There are two links down below one of them being the strive smart discord group chat and the other one being the strive Smart Facebook group both of those platforms are 100% free of charge and I guarantee you you'll find value in both of them So with that further ado, let's just hop right into it guys So again another green day in the stock market guys the S&P 500 the SPX The 500 largest publicly traded US companies ended up closing the day up 25 points here we saw it up 40 points today at its highest it ended up closing the day up about point eight nine Percent the Dow Jones industrial average up about 215 points at the close up point eight four Percent at the highest. I believe it was up like 300 350 something like that we saw a little bit of a sell off towards the end of the market and all of the three major indexes that we follow here and the Nasdaq up 75 points roughly right now mind you this is the future up about 1% right now So if you look a bit closer to see exactly where it closed at about 4 p.m Eastern Standard it seems like it's right around where we are right now Maybe a little bit lower probably like six points lower So around a 68, you know 69 70 point green day for the Nasdaq at the close of the market so and yesterday's video we were talking about how There was on a technical basis a potential for a further sell-off today, and if you guys watch yesterday's video I'll do a quick little rundown here. We noticed on the S&P 500 on the 20 day one-hour chart towards the close of the market Yesterday where we saw we were under the 50 SMA Resistance right we talked about that in yesterday's video and I was talking about how on a technical basis We were still down trending right and if we were to get rejected here for the futures We're pointing down this morning, you know, there would be a red date today, but we did not get that right We popped out the futures were looking solid We saw a huge push out of the 50 SMA Resistance here and we pretty much just broke the downwards pattern on this 20 day one-hour chart Remember in yesterday's video. That's kind of what I was talking about, right? I was I was saying that if we were to pop out of here That's a pretty bullish reversal to the upside But if we were to get rejected pushed down that would be the continuation of the downtrend So we might as well just break down the SPX right here very quickly guys, you know on the 184 hour chart it's very evident at this point It's 100% clear that we did bounce on the 180 simple moving average level of support here Right, we were kind of you know holding above at the past couple of days, but on the smaller term charts We didn't quite see the reversal to the upside quite yet, right? We saw the 50 SMA resistance We obviously broke out of that on the the 20 day one-hour chart Confirming the push here on the longer-term charts as well So as of now, you know everything's looking solid for the continuation of the uptrend here on the S&P 500 based on these Technicles and one thing one thing I want to point out here is this 50 simple moving average is posing as the next Resistance on the S&P 500 notice how we're seeing a red candlestick forming right under here This is mostly due to the market pulling back on an intraday basis towards the end of the day today, right? We noticed the big pop we kind of leveled off at about 2890 We started to make lower highs here lower lows into the close of the market You guys can pretty much see it there and if we're looking on the 20 day one hour Notice how there's also a resistance here under the 180 SMA So we're noticing on the 20 day one hour a resistance here So that's one resistance and on the 184 hour We're noticing yet again another resistance under that 50 simple moving average So these are levels that the S&P needs to break out of if the uptrend wants to continue further From where we are right now and quite frankly guys like you saw in the title, you know This market has been confusing me right? We've had bad news after bad news then we got a little bit of good news with the auto sales tariffs yesterday kind of Being pushed back being delayed and this kind of just pumped up so much optimism into the stock market People were talking about how this was panic buying in our community in the discord chat and that kind of makes sense Right people are almost like foam owing right now I kind of in my personal opinion right fear of missing out on this dip of the stock market although There's a bunch of bad uncertainty and bad news surrounding which surrounding the market Which is why I'm still kind of iffy right here And I'm still not buying in on any swing trades yet because I personally still think There is a lot of downwards pressure in the overall markets as of right now That's just my honest humble opinion if you don't agree with me. That's cool But if you agree with me, you know, you probably think the same things that I'm thinking right now in terms of this Could just be a dead cat bounce, right? This can just be fake optimism, you know panic buying, right? I'm still not buying the fact that the markets are going to reverse all the way up here and maybe hit a 3000 point SMP, right? I'm just not buying it at this point But the technicals are telling us that we are pushing up from here and again like I've mentioned in other videos The technicals do not lie So one thing that we could be seeing here is a head and shoulders pattern forming on the SMP, right? You see the left shoulder the head and if we do end up getting rejected here by the 50s In May and on the 20-day one-hour chart by that 180s in May Let's say we have a massive couple of red days these next couple of days, you know Maybe tomorrow on Friday heading into Monday Tuesday This can be the completion of the right shoulder if we slowly start to sell down You know, maybe down to the you know, maybe the 2800 flat level the $2,700 level if we do something like that, right? this is going to be the left shoulder again the head and then the right shoulder and then we'll be selling off further from there and at That point it would be breaking below critical supports at 2800 and of course the 180 simple moving average So that could be a possibility forming right now if the markets do end up selling off And I would love to know what you guys think about that is this just kind of panic buying our people FOMOing right now. Is this is this legit? You guys think we're going to go up to a 3000 S&P right now. Do you guys think the tariff news the trade war all that stuff is out the window? I personally don't think it is I'm personally not buying it and I'm personally waiting for a further sell off and Mostly sitting in on cash right now to be completely honest with you guys So the Dow Jones industrial average right now We're noticing a resistance under the 180 S&P here But we're also noticing the confirmation of the push above the 25,500 level of support and we're kind of just trading in between 26200 and 25500 just like I talked about yesterday that 700 point range is pretty much where the Dow is trading right now So we're going to need a massive swing to the upside or a massive swing to the downside for us to break out of this little Horizontal channel that we're in and if we're noticing on the 20 day one hour just like the S&P guys We broke out of the 50 S&A Resistance today we gapped up and in yesterday's video I was talking about right if we were to gap up that would be a bullish pattern if we were to get rejected and pushed down That would be the continuation of this downtrend and now it seems like we are seeing a bit of a pullback We're not quite yet getting rejected by the 180 S&A because there is a bit of room to get up to the 180 S&A But that doesn't um Really that doesn't shy away from us getting rejected or just rather pulling back where we are right now Right the one day one minute. We popped up 25,957 dollars almost at 26,000 Dow Jones today Then we started the descending pattern lower lows lower highs all of that good stuff So let's take a look at the five day five minute. We'll notice again It's a nice little bullish breakout, but just like the S&P guys, you know, I'm not buying this whole You know the whole selling off being done quite yet And again, you guys might agree with me you guys might not agree with me That's up to you, right? But as of now, you know, I just think there is more selling in store And that's pretty much it for the Dow Jones, right? Nothing crazy here Nothing crazy just trading in between the middle right here if we break up above, you know, 26,200 at that point We may be testing the next resistance than the next resistance But first let's just focus on the next resistance which is right at about 26,200 so the NASDAQ The NASDAQ here the slash NQ We notice how this one also broke out of the 50 S&M a resistance here on the 184 hour chart Now it's looking like we're testing the 180 S&M a which is right above here. You see this yellow line It's right above this one. Uh, this 50 S&M a right. We're noticing a red, uh, candle starting to form Right, this can be potentially a rejection spot But if we notice tomorrow we're trending up, let's say the futures are up pre-market This can be us breaking out of this 180 S&M a resistance and we could just be Further continuing the uptrend at that point. So if we're looking at the 20 day one hour This is actually one that's broken broken out of both of the S&M a resistances We notice that we were trading under the 50 S&M a we slowly We slightly broke out of that in yesterday's session here. We can see this was on the 15th of May, excuse me And today with the big day that we had we broke out of the 180 S&M a right So this is the only one out of the three major indexes we follow That's actually out of both moving average resistances here on the smaller term 20 day one hour chart So what I'd watch at this point on this 20 day chart is these next two resistances one being at about $650 right here and the following one being at around 77 20 $7700. So let's say we have a huge day tomorrow Hypothetically that would probably put us out of these two resistances and at that point, you know The NASDAQ on a technical basis will be on a full-on uptrend pattern again. The continuation Will be there. So that's pretty much it For this market update guys, you know I'm kind of just confused right now, you know with the whole Movement of the market. It just kind of doesn't make sense to me to be completely honest with you all Which is why I'm just being cautious right now Where I'm putting my cash and what I am doing with my money, right? I'm not jumping into any swing trades right now just because the markets have had a couple of green days in a row and You know, I'm not just you know Thinking the markets are going to hit all-time highs quite frankly just because we've had a couple of green days in a row And just because the technicals are showing that we could be reversing right now to the upside Right, I want to see how the markets are going to react over these next couple of days Before I make any further decisions on the swing trading side of things But this market guys the volatility No one can really lie about it providing a lot of opportunities for day trading, right? Day trading has been the bread and butter for me over these past couple of days with the volatile Markets, which is what we're about to talk about right now. So remember in yesterday's video We talked about Nike stock ticker symbol NKE. This is one that I scalped this morning very quickly Um pretty much guys. We had a pretty solid morning on Nike, right? We noticed it gapped up pre market hours and into the market open from yesterday's close at about 84 dollars We opened up at about 84 50. We gapped up the futures at this point We're looking green the s&p was up like 10 15 points or something like that And I ended up just taking a position right here not the biggest of positions, right? I ended up taking a smaller position than I typically do take on my day trades And it was a quick scalp right nothing crazy ended up getting in I believe at about 84 dollars and 70 cents Wrote it up literally under 1% trade here was about like a 0.6 0.5 0.6 trade Literally up to about like 85 85 10 right around there is when I ended up selling out so quick in and out on Nike that's what I ended up doing We noticed the top that about 85 40 after that big spike this morning sold off all the way to about 84 dollars And 25 cents so quite the swing there in Nike stock So my second trade of the day was in proctor and gamble, which is actually one I also called out in yesterday's video, right? I talked about this one Not in my night video, but in my video previous to that I had two uploads yesterday. The first upload was three stocks I'm looking to swing trade during the trade war and pg proctor and gamble happened to be one of those stocks and we talked about how If proctor and gamble were to break the 107 level of resistance right around here, right 106 50 ish 107 That would be a good sign that it wants to push to a high here on the 184 hour chart And as we can see the dollar 41 day that it had today 1.32 percent in the green that's exactly what it ended up doing It broke that resistance pushed to a high all the way up to about 108 dollars and 68 cents So on the one day one minute guys, this is what we're seeing right? We opened up at 106 We got the pop up above 107 that was the bullish confirmation for me because again We were breaking out of that long-term resistance from over the past couple of weeks And I ended up just taking a position. I believe at about like 107 I think it was like 107 35 107 37 if we're getting exact here And this was a bit bigger of a trade than nike. I ended up selling after this little pullback We saw we got the pullback the bounce that I pretty much just wanted to get out Right once we got right when we got back to that resistance that was formed after the pullback Right, we got a double top here. We pulled back then it was I was up about like 0.4 0.5 at this point we started to trend back up and I just wanted to play it safe Get out once we hit and got close to that resistance ended up taking about a 0.7 Profit on proctor and gamble here guys. So that's pretty much it for the day today again Like I said, haven't been doing much swing trading lately because the markets have been funky The trend has been confusing me a bit. I'm not buying into the hole. We're going to all-time highs again Right, I'm just not buying into it and I'm not putting money into swing trades quite yet because of my belief And me not buying into that. We're going to all-time highs everything's sunshine and rainbows right now I'm just not buying into it quite yet guys. So day trading has been the bread and butter for me has been What I've been doing in these volatile markets that we've been in guys so pg And nike that's all I ended up trading as of today. So drop a comment down below Let me know what did you end up trading today? I would love to know and I love interacting with you guys You all know that and it means a lot to me when you drop a comment when I get to interact with you It's pretty pretty awesome talking to you guys the subscribers. You guys are the bomb So what am I watching for the rest of this week guys? So I got a request on one stock to break down today We'll start off with that then we'll get into some other stocks and I'm watching some of them Are ones that we actually already talked about one of them being proctor and gamble So the one that one of the subscribers wanted me to talk about today was lyb I've covered this on the channel before Particularly particularly during this time period when we were trading between 84 and 89 We briefly popped out of 89 after we talked about it on the channel, right since them we ended up selling off We failed to hold that support at about 84 dollars and now it seems like we're holding a support From back in the december month of 2018, right? We can see that was actually the low Excuse me down to about 77 dollars and 50 cents if I drag this out a bit You guys can see that over the past couple of days We've been bouncing and holding and actually reversing to the upside off of this Support and if we're just looking on let's say some smaller time frame charts Actually, let's look at the 10 day. That'll give us a bit more data here. We're noticing how We're breaking out of the 50s and may resistance. That's been a resistance over the past couple of trading days But now it seems like we're seeing some resistance under this 180s and may so me personally It's good that we are Breaking out of the 50s and may but me personally what I would love to see Is for us to break out of this next resistance to being the 180 Simple moving average, right? We broke out of one now All we need to do is break out of the next to get that further confirmation at that point The price of the stock if that does happen, it would be probably around the 83 to 84 Level which for me, that's more of a comfortable spot To get into lib and then from there guys, you know at about 83 on the 10 day chart We notice that's putting us out of a resistance But then when we go to the 184 hour, which again is the longer-term chart We're going to notice that at that point We're also going to be at a resistance from the previous couple of weeks where it was once a support, right? We break the support that becomes a new resistance. So Honestly at this point, you know, there could be an opportunity from 82 dollars Maybe up to the next resistance at about 84 dollars. That could be a nice little play on lib Especially if the pre-market Movement is showing that it's continuing to push up and at that point, you know The perfect scenario here for me would be to get in and out of a little trade from about 82 Up to about 84 sell wait for the break above 84 And then if we get that confirmation if we get that we're possibly pushing up to the next resistance Maybe at about 88 89 dollars from 84 85 that could be another possible trade So that is what i'm looking at here. It's looking good though. The fact that it's holding 77 to 80 dollars Very very solid sign for lyb So the next one That I wanted to talk about today was actually NVIDIA stock guys NVIDIA stock. This is one that I believe just reported earnings I didn't really get into their earnings quite yet to be completely honest with you all But the stock is reacting quite well here. You can see take a look right here You see this little green thing? That's the price right now And you can notice that it's up 10 dollars from where we ended up closing today And what's that telling me? Well, that's telling me that the stock must have had or the company rather Must have reported great earnings. So let's take a look at the live news tab so we can see possibly if we can see here Eps revenue Let's see. So, okay C's q2 sales, okay, the 2.55 billion versus 2.54 billion expected That was for the sales. Okay. Actually, no, they came in sales at 2.22 billion versus 2.2 billion expected So they beat on revenue very very solid and their eps. Oh my goodness guys. This is probably why their eps Was 88 cents versus the 79 cents that were expected So that's a blow out of the water beat there very very nice beat on Nvidia This is going to be one where the momentum from this good earnings report could carry on into tomorrow, right? We may notice that it opens up at 170. Maybe it rallies maybe to 175 Maybe even 180, right? That's not too out of the question. We've seen stocks Rally on days after they reported earnings. Just look at roku for example roku that stock reported earnings The stock went up like 40 percent, right? Absolutely crazy another scenario that can happen here is let's say The hype kind of dies down from the earnings report tomorrow Let's say we get down to maybe 165 166 if we open up at that level That could also be a good opportunity for it to run back up to the highs that it hit Before or after rather they reported earnings, which in this case would be 172 dollars per share So there's a couple of things that can happen here guys, you know Typically, we don't really know or really we never know honestly We never know what's going to happen after earnings, right? We've seen facebook pop up to like what was it? Like 200 dollars a share or something that it ended up selling back down to 190 Hasn't gotten back up to 200. Who knows that could happen to Nvidia, right? We may sell off and then just trend to the 160s maybe go down again Who really knows but if one if um if we get to 165 Like I said, maybe if that does end up happening, you know We start to consolidate maybe and we start to maybe have a push back up That could be us filling the gap back up to 171. That can be a very very solid trade. So in video And lib those are two that i'm definitely keeping my eyes on for tomorrow Facebook stock here you're going to notice at a bunch of these stocks guys the larger cap stocks Notice how many of them are at their 50 simple moving average resistance on the 184 hour, right? These are at a point where if we broke out of these levels, we can break out, right? So facebook's one that i'm looking for that breakout and I believe apple's in the same spot here Actually, no not quite as um the same spot. Let me take a look at some of these other large caps, right? Microsoft this one's actually out of The moving average resistance. This could be a potential good play for tomorrow. Let's see amazon Yeah, you see amazon's right at that 50 sma resistance here. Let's see google Google broke out of it, but it's actually at the 180 sma resistance as well Let's take a look at amd amd is looking like it's breaking out of the moving averages here We're popping out of there a bit so Tomorrow, you know tesla's also a good one that i'm looking at right here tesla somebody in the group actually mentioned it And it got me thinking a bit. We're noticing this pattern here on tesla We've been talking about this pattern non-stop, right? We've been talking about how every time tesla goes to a lower low, right? Which it's currently at it ends up rebounding and then it goes back up to the moving average Which in this case is the 50 sma this green line that you're seeing and this person on the group chat He was saying or she I don't know if it's a boy or a girl, but they were saying You know I'm looking to sell out of tesla at 240 and that got me thinking 240 is actually right at that 50 sma So that's actually a pretty solid potential move and especially if tesla continues this consolidation And especially if it starts to slowly creep up into the 230s This may be a swing that I might even take a part of even though You know, I'm not really looking to swing trade a downtrending stock, right? I've talked about this so many times throughout the life of this channel guys That's just not my style But this may be one that could be day-tradable because we've seen tesla push $10 in a day, right? So if that ended up happening, I'm going to keep it on close watch for that potential move So tesla looking very solid here We noticed the vixx the volatility index is completely tanking here We noticed the volatility was pumping up over the past Couple of days it kind of died down over these past two days. Hence why the vixx is dropping here So that's pretty much it for today's video guys, you know The vixx is coming down volatility is slowing to die down Although I don't think it is quite over to be completely honest with you guys That's just my personal opinion You know tesla setting up decently right now. We're seeing invidia as a potential earnings play, of course I'm watching tvix s qqq for potential market sell-off. Those are always on my watch list for the mornings We have, you know, microsoft potentially breaking out. It could potentially hit an all-time high here Another one that I want to talk about very quickly is natural gas natural gas We noticed the sell-off to 258 the pop-up to 264 now. It's kind of forming a bit of a horseshoe Pattern here. We sold off actually no not here right here guys the horseshoe, right? We sold off from 266 down to 259 We're popping up now. We're slowly starting to fill the gap Maybe you guys could be a good play, especially if this uptrend continues if we get into the 270s on natural gas You guys which goes up when natural gas is going up that can be a very solid play So that's it for today's video guys if you enjoyed it feel free to hit that like button drop a comment down below Let me know you guys ended up doing today Subscribe to the channel if you're new hit that notification bell so you're notified every time that I do make a video I'll catch you all in the next video. Thank you all for watching again It does mean a lot to me. Good luck tomorrow. Enjoy the rest of your day Peace out