 What is going on everybody, Estas 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 two trades that I made today on the 14th of January in 2019, as well as companies that are reporting their earnings this week and throughout this month that you should be keeping an eye on guys because as earnings season is kicking in, we're going to see what companies are reporting in terms of revenues, profits, all of these very important things that really sway the stock market. So keeping an eye on these companies is super important. I'm going to be talking about them a little bit later on in this video, so make sure you guys stick around. But before we do talk about all that, for all you new viewers out there, my name is Estas and I make videos dealing with swing trading, day trading, long-term investing and my personal philosophies and strategies when it comes down to investing and trading in the stock market. So for those of you guys that want to learn more about that, feel free to drop a like, leave a comment, subscribe, follow me on Instagram as well as on Twitter and join our Discord group chat as well as our Facebook group. All of those are linked down below in the description box and let's get started with today's video. So we all know by now if you were paying attention to the markets today, today was a red day guys, a red day in the stock market. The S&P was down about $14 at the close down around 0.5%. The Dow Jones closed the day down around 0.3%, down around $86. Let's see what the NASDAQ did today very quickly. We'll hop on this one day, one minute because the future is showing now we're up about $4 today but we did close the day red and let's see where we closed the day at in terms of the NASDAQ. So we closed the day right around about, let's say like 65-ish, 100 in terms of the NASDAQ and we ended up opening the day. Let's see very quickly here so I can give you guys a, so we ended up actually did we close the day green on the NASDAQ? No way. So we ended up opening the day around, what does this say, like 65-30? We ended up closing the day. All right, let's say the NASDAQ ended up closing the day green today. Drop a comment down below. Let me know if it actually did close green because sometimes these futures are a bit confusing but overall today, strong consolidation day in terms of the S&P, the Dow, the NASDAQ we've been hovering at these resistance points at the top of this channel here for the NASDAQ. We can see here on the Dow right under this resistance which was a previous support at around $24,200, $24,000. We've been having trouble getting above there and if we can see a little bit closer on these 20-day charts, we can see the past one, two, three, four trading days we've pretty much been flat consolidating on the 50 SMA on this 20-day one-hour chart and holding below the resistance on the 184-hour chart here. And if we go to the S&P 500, very, very similar guys, right? We've been seeing a strong resistance under around let's say $2,600. The S&P has had trouble getting above $2,600 over the past four trading days. And if we go a little bit closer on the 20-day one-hour chart here, we can see exactly what I'm talking about, right? We've been riding this SMA over these past about three weeks at this point, right? We made higher highs, higher lows, holding the uptrend and we're holding that 50 SMA as of right now. But we're having trouble pushing for that higher high, breaking that resistance at around $2,600. So do you guys remember that pattern that I was talking about? I believe it might have been like three videos ago at this point where over the past couple of days or it might have been two videos ago, we've been seeing a pattern in the SPX and the Dow where we're selling off in the beginning of the day, then we're ending up, we're ending the day closer to where we closed the previous day, right? You see this gap down here, then we ended up closing the day near yesterday's resistance. The gap down here the next day ended up closing the day near yesterday's resistance. And it was a very similar pattern today, right guys? We noticed the gap down, then we ended up closing near that resistance that we've been talking about around $25.90 to $2,600. And I know it's not exact guys, but we're using a little bit of a ballpark range here of around 10 points when we're talking about this resistance because in my opinion, guys, even though it's not exact, it's still close and we can count that as the resistance point. So I think it's interesting that we've been doing that gap down, pushing up later on in the day pattern over these past couple of days. But you can't deny the fact that that is a very strong resistance and especially with the banking earnings coming up and earning season kicking in in general, these could go lower. These indices, the SPX, the Dow, the NASDAQ could end up going lower if these earnings are bad. And we know companies are taking hits in terms of earnings guys. We know Apple, they're going to end up reporting earnings 10%, 8% below analyst estimates. And you've got to think, are other companies going to be reporting bad earnings in my opinion? Yes. So this could be a very negative catalyst for the markets ending up pushing them down if they do report bad earnings. So if we take a look at some closer charts on the NASDAQ, very similar guys. The past couple of days, strong consolidation at the top of this channel that we see on the 184-hour chart, it's honestly looking ready to dump right now based on this pattern. If we do break the 50 SMA here on the 180, which was a support level for this previous higher low here, if we break around, let's say the 6400 range, and we start to head this way and then end up breaking this support here, that's not going to be a good sign for the NASDAQ whatsoever. You know, the Dow, same exact thing here, guys, looking on the 20 day one hour, if we break this range right here, the 50 SMA, then the 180 SMA, then if we end up getting back to around, 22,600, which is around 1,300 points lower than where we're at, that's going to be pushing us back into that downtrend, back into that bear market territory. So that's what the overall market is looking like right now, guys, pretty much consolidation at resistance points over the past couple of days. And I do see further downside, like I've been saying over the past week, I'm still sticking to my word because again, earning seasons coming in, a lot of these companies in my opinion are not going to report the best earnings ever. And I think that's going to drag the markets down. And again, just drop a comment down below, let me know what you guys think about this. I'm very curious about that. So let's talk about what I traded today. The first trade I made was in UWT, and I ended up taking a 1% loss on UWT. And for those of you guys that don't know, this is an inverse ETF, and it's the bull ETF for crude oil, meaning whenever crude oil is going up in price, UWT is going up in price. And obviously, when crude oil is going down, UWT is going down as well. So I pretty much got faked out today to be quite frank with you guys. I think I got in UWT earlier on in the morning when it was around here in terms of crude oil, because they correlate, obviously, like I just said. So I think it was around I could show you on the chart for UWT because I remember the exact price that I got in. It was around $12 and I believe 50 cents. No, it was actually earlier on in the day guys, it wasn't around 1130, because I already cut my losses at this point. This was a red trade, to be honest with you guys, I set a tight stop loss at 1%. I believe I got in at around 1252, ended up jumping the gun a little bit late. And since we were reaching that resistance here guys, I wanted to keep a very tight stop loss on this, just in case it didn't break through. And obviously, as the day went on, we can see it didn't break through. So I'm thankful that I did put that tighter stop loss at 1%. But I pretty much got in here guys at 1252. It went up around 1.2% from where I did get in. I did not take my profits guys, I really should have because we were at the resistance. But I was really hoping for a breakout right here. We did not end up getting that crude oil actually faked me out. And we started down trending in crude oil around here. We'll take a look back at the crude oil chart so I can show you guys exactly what I'm talking about. And I did not take the profits, like I said, ended up taking my losses at around 1%. And that's just how I went for this first trade guys, took my losses at around 1239 and just went on with the day at that point. I did not want to force any more trades. Not that I forced this one, but I didn't want to force a trade just because I took a loss with my first trade of the day, if that makes any sense. But then I ended up finding a pattern in cron that I really did like. It was a wedge with a, it kind of looked like a bullish pennant as well. And we could take a look at cron here because I did end up making a green trade on cron ending off my day green. And we can see here, this was a wedge, and it kind of did look like a bullish pennant as well. And I was waiting for the breakout right here, guys, because take a look, we see the downtrend here of it making lower highs, but we also see it here, it was making higher lows. So it kind of is a bullish pennant here as well, the smaller term, you can see the one here, it started to push up at around, what time was this at about 11am? And drop a comment down below. Let me know if you guys want me to make a video on patterns to look out for like wedges, bullish pennant, triple tops, double tops, stuff like that. I would love to make a video on charts if you guys do want me, or not chart patterns, if you guys do want me to make that video. But back to the trade, I was waiting for the breakout of this resistance, and we ended up getting it, ended up putting an order in at 1380, and I actually set a sell limit order at around 1399. Literally, it hit my order at the peak, guys, and let me explain why I did this. I wanted to put it at the previous resistance at around 1399. And I put it at 1399 because we see it barely peaked 1401. So I actually wanted to put it at 1399. So if we got, you know, a little bit closer here and not into the 14s, I could still fill my limit sell if that makes any sense. But that's what I ended up doing. I think this trade was about like 1.3%. Let's take a look a little bit closer. It was actually around 1.4%. So I ended up closing the day, not the greatest green day up around 0.4% on the day. But like I always say, guys, profit is profit, and I'm happy with any profits that I'm able to pull from the stock market. So let's take a look at some other ETFs here and stocks very quickly before I do end off today's video. I'm sure you guys saw UGAS today. It went absolutely crazy. Natural gas is actually still running right now. Take a look at this run that we had today, guys. We saw the gap up yesterday, 6pm Eastern Standard Time when the futures market opened. We saw the big gap up in natural gas from around 315 up to around 330. And it ended up running literally from, you can see it here, this was 5pm yesterday, right? 6pm roughly, right? 5pm, 6pm. Excuse me. We can see literally from when the futures market opened yesterday, it made a huge run all the way back up to 365, I believe it topped off. And now we're literally right under this 180 SMA here. And I've seen natural gas run like this so many times. It's like I'm scared to get into UGAS or DGAS sometimes because I'm always waiting for the pullback and I feel like when it runs like this, a pullback never really comes, right? And I missed out on this trade today. I'm not going to lie because not that I missed out, I was just scared to go in because I didn't want to get in too late but it kept running. So this was kind of like a weird situation here. I didn't want to get into it because I didn't want to get in too late but it kept running. I was waiting for the pullback. If that makes any sense, guys, it was just weird. I just was not able to get in. It was just a crazy day for this one and I didn't want to force this trade. And UGAS ended up doing very extremely well today. As many of you guys know, up 32% on the day, guys. This ETF is literally up 32% today and on Friday, it was up around 18%. So it's literally up 50% almost in a span of two days. So if any of you guys swing-traded UGAS, like, oh my god, you killed it pretty much, right? You killed it, right? 50% in two days. Anybody would kill for that type of return. I mean, honestly. But that did very well today. UGAS crude oil, honestly. I took the L on crude oil today and we're seeing that it could be reversing its pattern right now. If we take a look on the 20-day, you know, we broke that 50SMA support here and now we're heading towards the 180SMA support. So if we actually do break this, you know, that could be a good sign for DWT potentially, which is the inverse to UWT, right? And let's take a look at crude, not crude oil. What am I saying, guys? Gold futures here. We're noticing a hit on their resistance again at around $12.95. This makes it a five-top. I don't even know how to say that, like a pentatop or something like that. But it topped off here, here, here, here and here. So that's five. But we are noticing it's making higher lows, but it's keeping the double-top here. So, you know, this is an interesting spot, not a double-top, the triple-top. It's an interesting spot for the gold futures here, guys. If we break that resistance heading to the 1,300 range, going long on Jnug would be a good idea there, because it's still looking pretty bullish since it is holding the 180SMA support here, as we can see here. And again, it's making those higher lows. But we want to see that break into the 1,300 range before trading Jnug, or at least that's what I personally want to do. And, again, don't trade based on my opinion. Please do your own research. This is not a channel where I'm telling you what to trade. The whole idea here is for you to figure out how to fish. I don't want to just give you the fish. I know you guys know that analogy. I want to show you or show you a way where you can find patterns for yourself and pick stocks for yourself based on these patterns and entry points, exit points that you could identify. Just from watching my videos, studying the charts yourself, and just putting in the hours necessary to be successful, guys, because it's all about studying. It's all about constantly studying, watching the charts, live action, after market hours, keeping up with the news. It's a job. Honestly, this is a job. You've got to take it seriously, study, study, study. That's all I can say here. But in terms of that, guys, I'm really closely watching natural gas tomorrow for a potential pullback into you gas. I'm watching crude oil to see what it's going to do. Is it going to break that support we were talking about potentially play DWT in that situation? Are the gold futures going to break 1300, meaning that JNUG would be a better play? Are we going to start to curl back down, head back to the 180SMA, meaning that JDST will be the better play? I'm still up in the air with maybe putting a put option on Kron. If we do end up curling back down a little bit, maybe for two, three weeks out from now, I'm still playing with that idea. Also tomorrow, I'm going to be watching TVIX, believe it or not, because if the markets do get rejected where we are right now at those resistance points, if companies start to report bad earnings, we are going to see a huge day from TVIX. Speaking of companies earnings, guys, oh my God, I completely forgot. I was going to talk about this a little bit earlier, but let's take a look very quickly at what companies are reporting earnings. Today, not really any big companies. Maybe you can say Citigroup, pretty big company, but again, the banking stocks. JP Morgan here, we see some airlines. Let's see what other ones here. Wells Fargo, we see Washington Federal, not really many big companies here. First Republic Bank, first Bank Corp, Inc. Let's take a look at the next day. Bank of America, that's a big one right there. Netflix, I think Netflix might be the 17th. We see Goldman Sachs on what is this, Wednesday. We see Charles Schwab. These are big right here, guys. These are pretty big. BlackRock, Bank of New York Mellon Corp. On Thursday, there's 47. Let's take a look at some big ones here, guys. Let's take a look. We see American Express. We see Bank Oz. We see M&T Bank Corporation. Let's take a look. BBNT, what else do we see here? First Community Corp, Fidelity Southern Corp, Netflix. There's Netflix, guys. Morgan Stanley. This is just this week, guys. Remember, this is going to continue to ramp up over the next couple of weeks. This is going to be huge in terms of earnings. I'm going to end this video here. If you all enjoyed it, feel free to drop a like. Leave a comment. Subscribe. Follow me on Instagram as well as on Twitter. And join our Discord group chat as well as our Facebook group. All of those are linked down below in the description box. And please, guys, do your own research for all this trading stuff investing. Don't do it based on my opinion. You got to do it on your own, guys. So I'll catch you all in the next video. Thanks all, all of you guys out there for the support. I really appreciate it. I'll see you guys later.