 What is going on everybody a stops here welcome back to another video so in this video? We're gonna be doing an overall market update looking at the Dow Jones the S&P 500 and the Nasdaq We're gonna be talking about one trade that I made today on the 18th of March in 2019 as well as taking a look at some other stocks and ETFs that did very well today and some that did poorly hint hint Facebook stock we're gonna be getting at the Facebook stock as well in this video doing a technical Breakdown and talking about briefly what is going on with this company that is bringing down the stock price So stay tuned for that later on in this video But before we do get into the topics of today's video for everybody out there that finds value in these videos You enjoy the market updates the trading updates the technical breakdowns Feel free to go down below and hit that like button And it really does support me and supports the channel in general and if you're not already a part of our two Communities down below in the description box the discord and the Facebook both 100% free get into those right now guys I 100% guarantee you you'll find very valuable information there Especially if you're a beginner trader and investor There's a bunch of people in there that are super active and they are willing to help you with any questions that you have Of course including myself. So without further ado guys, let's talk about What went down today on the 18th of March in 2019 in the overall stock market here starting off with the SPX the S&P 500 index the 500 largest publicly traded U.S. Companies we ended up closing off the day here two minutes ago up about ten dollars and fifty-two cents Up about point three seven percent the Dow Jones industrial average today guys ended up closing up 65 dollars in the green up twenty five point twenty five Percent here and the NASDAQ composite guys up about fourteen dollars at the day at the close of the day up about 0.2% on the day so we ended up closing off the day green today guys, but it wasn't an Astronomical green day right just like I expected, you know We had a little bit of a green day today, but it wasn't a huge huge green day And why is this guy's well? We are at the higher points here of the uptrend pattern that the SPX is on the Dow and the NASDAQ Meaning that we are getting more overbought on these indices, especially the SPX here and we could be you know in Tune here, we could be getting ready for a little pullback if you guys recalled in my previous video I talked about how I could see another day or two of green in the overall markets before We do experience a little a little bit of a retracement right because we notice here over the past couple of months in The SPX really the past couple of weeks since the beginning of 2019 Well, I guess you can say months now because it has been about two and a half months You know every time we pumped up to a higher high Every time that we got a bit overbought here in the RSI level the relative strength index We saw a retracement between you know 1% to 3% Which was our most recent pullback when we pulled back from about 28 20 all the way down to about 27 26 That was about a 3% pullback and notice that was at a new high here So we aren't really seeing a flatlining pattern here Which really means that we could be pushing up again tomorrow But once we do start to see a flatlining pattern meaning we're seeing either a double top or a strong Resistance at a new level, you know that could be an indication that we're going to be pulling back the next day Right take a look at this day remember or these couple of days here Remember I called this double top out in the videos a couple of weeks back at about 28 15 the strong resistance level This was a flat line and then what do you see? We ended up dumping We ended up selling off 3% over the next couple of days So that's what I would be keeping an eye out here for in terms of the SPX guys, you know right now like I said We're not consolidating quite yet for that potential pullback. We are still running up So let's say we consolidate tomorrow here. We do something like this Let's say hypothetically here, you know, we consolidate for a day We consolidate for another day or something like that We have a two straight flat days one flat day whatever, you know Maybe at that point we could start to experience a little pullback here, you know Maybe a 2% retracement maybe a 3% little pullback that could potentially happen But as of right now guys, we really did something super super important here on a technical Basis we ended up breaking out of this resistance from back in the beginning of November in 2018 and actually the beginning of October or really the middle of October 2018 At about 2820 well, we did break out of that yesterday, I believe or or on Friday But today we ended up holding those levels again, and we ended up pushing higher So this is a very good sign that we're now trading in this next channel between 2815 2820 as the new support level and the new resistance level at about 2870 so as of now the next target on the SPX if we continue to push up here If we continue to go green which there is a possibility the target is at about 2870 Which from the levels we are now is? About a 1.3 1.4% move away, you know off to the upside here, right? So let's say we moved 1% tomorrow We're going to be very close to these levels up here at about 2870 and if we're taking a look here on a closer term basis, you know We can see exactly what I'm talking about, you know on this closer term basis We ended up breaking out of this resistance and now it's looking like we're holding it as a new support Especially since we pulled back on Friday tested that level and opened up higher today That's a very good sign that we're continuing to push up and we actually tested the level again today If we look on the one day one minute here on the SPX we actually had a double top intraday here Which means we could be pushing down We got the double top we pushed down right all the way to 2822 and we retested that level that Resistance or you know the old resistance which is now a new support and we ended up closing the day on a little upswing So that's a very good sign that we're holding this level as a new support and we're continuing to push up So in terms of tomorrow guys what I'm going to be waiting for is are we going to continue to push up? Are we going to continue to hold these levels as new support levels? And are we going to continue to climb up? Are we going to flat line? You know are we going to see a day or two of consolidation here? Which could mean we're a either going to push up to a new level or B We're going to end up dumping and seeing that retracement Maybe a 1% 2% 3% pullback or let's say tomorrow guys. We end up selling off Are we going to end up breaking this level at about 2820? Which again is a new support and are we going to end up breaking below it? Which in that case would it would be acting as a resistance again so there are a couple of Scenarios here that could end up playing out and really I'm just going to be looking at what the futures are doing What the large caps are doing pre-market hours to really understand where we could potentially be headed for Tomorrow and for the rest of this week guys So that's what the SPX is looking like right here the Dow Jones industrial average We finally ended up breaking that level. I believe we did break this level on Friday of about 25,800 this was a level of resistance from back in the middle of October and back in the beginning of December We topped off both at those times at those levels and we sold off making that a new Resistance level, so let me quickly take a look. Did we actually break that on Friday? Yeah, we did We ended up breaking that level on Friday. We popped up to twenty five thousand nine hundred We retested it today, which is a very good sign that this is a new support level We're retesting that support like we did You know, we actually tested it the first time on Friday when we closed above it and the fact that we ended up Opening above it as well and then continuing to push up in the latter half of the market That's a good sign that this is a new support level for the Dow Jones So what am I going to be looking for now in the Dow Jones guys? Very simple. We broke the resistance It's now a new support at about twenty five thousand nine hundred ish Dollars and the next level I'm going to be looking for now if we continue to push up is going to be at around 26,200 where we can clearly see on this chart here on the 184 hour We can see we topped off there back in the beginning of November at about 26,200 and we topped off there a couple of weeks ago back towards the end of February in 2018 at about 26,200 we saw that little 3% pullback here roughly 3-4% pullback It's a little bit more than the SPX because Boeing weighed down this overall index and now guys we're curling back up We're breaking out of their resistances. We're trending above the 50 cent moving simple moving average here as well as the EMA So, you know, this is the level I'm going to be waiting for and just like the SPX There's a couple of different scenarios that can play out here are we a going to continue to push up here to fill the gap to the Upside that's a scenario B Are we going to consolidate here for a couple of days before we push back up or before we sell off below this? Support to make it a new resistance because if we sell off break the support It's obviously a new resistance or are we going to sell off tomorrow and break that level and slowly start to trend down? Which at this point guys the way the technicals are looking I think we're probably going to have another green day tomorrow Maybe on Wednesday again before we do see a potential pullback in the overall markets Those are just my thoughts. Let me know what you guys think about that down below in the comment section But that's what the Dow Jones is looking like nothing too crazy So the NASDAQ here today guys had about like we saw in the beginning of the video about a 0.2% move to the upside and this is the future which is why it's continuing to push up here You know after market hours, and we all know the NASDAQ has been breaking Resistances left and right over these past couple of trading days remember we bounced on the 180 SMA here Confirming it as a support level. We then bounced above the 50 simple moving average We bounced above the seventy one hundred dollar resistance. We broke above the seventy two hundred dollar resistance We consolidated here at about seventy three hundred for a day or two We made another higher high and now we're trending at this resistance We're trending right below it the one at about seventy three hundred and seventy five to seventy ish dollars Right where we are right now when we filled this channel from seventy two up up to about seventy three seventy five Very quickly it took literally let's see about a week for us to get from here to here And now guys, you know, it's a pretty interesting spot for the NASDAQ Are we going to continue to push up to then retest? You know break out of that resistance and test the next spot which in this case would be at around seventy four hundred Or are we going to see a little bit of a retracement here to test the support level at about seventy two hundred dollars? You know in my personal opinion guys in terms of the three major indices here I think the NASDAQ is the most overbought out of every single one because we saw the Dow It's still not at that higher high level in terms of the past couple of weeks Let me just show you guys again. We're still at this level, right? We're still not past the previous high and the SPX although it is at a high right now It's still pretty close to those previous high levels that we saw a couple of weeks ago Literally like like point five percent away or something like that point seven percent It's really not too close at all or rather it is really close But the NASDAQ you know from the previous high, you know, it's up around to maybe close to three percent From that high and it does seem a bit overbought here So, you know, I wouldn't be too surprised if this one actually did end up pulling back over the next day Maybe two days, especially if we do end up pushing green guys for enough for, you know A day or two here up till Wednesday Maybe if we end up doing that, you know, I do expect this one to see a pretty hard pullback You know probably down to about seventy two fifty maybe seventy three hundred dollars flat Just for it to pull back a bit because because guys remember, you know when a stock ETF index future when it's pushing up non-stop with no really red candlesticks or retracements in sight Although there is one here to here, you know, there is going to be a pullback sooner or later It's going to happen and at this point, you know, I do see it coming over these next couple of days Especially for the NASDAQ composite. So that's what I'm looking at in terms of the overall markets right now guys Let me know down below. What is your opinion on what is going on right now in the markets? Are we going to be pushing up green a couple of more days? Are we going to have one day of green and then we're going to pull back? Let me know what you guys think I would love to know. So what did I end up trading today guys? I traded UWT UWT has been my go-to ETF here over the past couple of trading days and we all know by now UWT Is a crude oil based ETF meaning whenever crude oil is going up in price UWT is going up in price. It's an inverse leveraged ETF that trades on crude oil That's all you have to know really to be able to trade this and of course you have to watch crude oil as well To see the price action the price movement to determine when to buy and when to sell UWT so let's take a look at crude oil very quickly We all know crude oil broke out or rather most of us know for all your new viewers out there Unless you did this analysis on your own You probably don't know that we broke out of the resistance level at about 57 75 Which gave us a confirmation that we're heading up or we were potentially heading up to the next level Which in this case is 61 Dollars and everything is still intact Right now as of right now that we are still going to be heading up to 60 to 61 dollars here on a technical Basis and that's exactly you know what ended up happening, right? We broke that resistance level a couple of days ago I ended up trading UWT a couple of times within You know this time period that we've been up above 57 75 and on the new support at about 58 dollars And now guys we saw today. We actually ended up bumping up into the 59 dollar range from this morning We can see we were at 58 45 at about 5 45 am with about three and a half hours left to market open On eastern standard time and then we ended up opening up the market at about 58 85 And this is when UWT ended up taking off like a rocket, right? We can see here a crude oil Once we saw this little pullback From about 59 dollars flat all the way down to about 58 77 and once we started to pop up aggressively This gave me pretty much within the 30 minutes of market open the confirmation that we were continuing to push up This was a higher low. We noticed the double bottom here, which is a good sign that we're heading back up There's more bullish potential when we see a double bottom and an aggressive move to the upside like this And this is what ended up queuing me to hop in to UWT this morning You know, I got in I believe at about 10 o'clock flat once crude oil really made that huge move Then as we broke out of the 59 level or rather into the 59 level from this previous resistance You know that that really made me put even more money into the position And let's just take a look at UWT very quickly so we can see exactly what i'm seeing here So we notice the double bottom here in UWT as crude oil, you know, double bottom that as well And then we notice this aggressive pop and this is when I ended up building my position at about 17 04 added more money as we broke that resistance on crude oil Which really correlates the same here to UWT when we broke that 17 15 level, right? We notice on crude oil. Like I said, we broke above the 59 dollar resistance level the interday resistance And then from there we popped up even further popping us above the UWT resistance at about 17 14 And I ended up adding more money roughly around here on this little pullback And I wrote it up pretty much up to about 17 45 taking I think my average cost was like 17 10 And I took you know for all you guys that don't know I'm typically taking about one to two percent on my day trades This one actually played out pretty well ended up taking about a 1.6 1.7 Profit on my money here in my UWT trade sold out there because at this point guys think about it We're overbought. We're already pushed up past the resistance from pre-market We're at higher. We're at pretty much the high levels over the past, you know, 90 days in terms of crude oil UWT rather will not really 90 days, you know on the 30 day chart We're at an all-time high here in terms of the past 30 days So took my profits to play it safe there And this is actually one that I'm going to be watching very closely over these next couple of weeks To see if crude oil does end up getting to that 60 to 61 dollar level If it does UWT does have a chance to get up to into the 19 levels if I can do Um, you know if I can predict it if I can just give a price target there I think it definitely could get to 19 maybe even 20 dollars if we do get up, you know Another one two three dollars in terms of crude oil. So let's talk about um, Facebook stock Very quickly and I do have a note here You know on facebook stock on my phone We saw Needham and company today downgraded the stock actually from a buy to a hold So there's been a bunch of different, you know news out on facebook stock They've been in the news a lot recently guys a lot of negative things around facebook And we can clearly see, you know, the stock has taken a hit guys taken a hit from the 170 level a couple of days ago You know, we thought I personally thought that we were going to advance to the next resistance Which from this point in time 171 it was looking like it was a new support I thought we were going to pop up here to 178 right that clearly didn't happen We saw some executives leave the co-founders of instagram left some other executives I believe it was the chief product officer one of the executive and whatsapp left a bunch of executives Left the company. This was a very bad sign very bad news, especially to investors eyes out there We also saw the live streaming of the new zealand massacre on facebook that pretty much spread like wildfire That was in the news that caused a lot of public controversy surrounding the company right There's privacy regulations right now that remains a concern for the company There's just a bunch of different things out there guys privacy has been a very big thing for facebook Obviously there's a lot of data out there a lot of public users A lot of data on these public users that can be used by tech companies to advertise Maybe they can use that to false advertise some things, you know, there's just a bunch of different things Really that's just signing a negative light right now on facebook stock So I personally think you know since analysts downgraded the stock right the whole massacre thing being live streamed there You know the privacy regulations potentially the government coming in you know I read an article that was saying the government wants to work with facebook right to set a regulation or something like that You know, these are things that could hurt the stock price guys So right now on a technical level we can see we're at $160 per share Which is a support stemming back from september of 2018 if we do end up breaking this level guys That's not going to be too good on a technical basis And I honestly think we will break this level and we will start to head back Into the $150 level 150 maybe 155 level and potentially if we do end up selling off even heavier You know, this might be a little bit out of uh, you know Out of uh, what's the word here guys? You know out of uh the realm here that might be a little bit out of uh, or out of proportion You know what I mean if we do end up selling the 150, you know, that could potentially happen and that would put You know facebook stock down an extra five six percent from where it is right now and on a technical basis You know 155 to 150 is the next support, you know in terms of uh, facebook stock So what do you guys think about this? You know a lot of the privacy concerns regulations data leaks, you know the massacre You know being live streamed, you know these executives leaving just a lot of negative light right now around facebook stock You know it got downgraded to a hold You know I'm personally a facebook investor, you know, it's one of my bigger positions It's one of my growth positions here in my uh in my stock market portfolio. I'm not too worried about this Right, I think it's going to blow over here in the next couple of months, you know regulation Probably will uh, you know, I think it most likely will hurt the stock and the company in general So let's see what's going to happen regarding that guys only time will tell and uh, you know If we do get back down here into the 130s 140s, you know, that's probably a spot where I'm going to be buying some more Facebook stock, but until then, you know, I'm simply holding on to my shares. I'm holding on to my shares here um, you know pretty happily And uh, that's just what I'm doing guys. So facebook stock, that's what it's looking like here So let's talk about a couple of other stocks that did very well today And then I see potential in here over the next couple of weeks So first let's just talk about facebook since it's already on here very quickly So if we do end up holding this level at about 160 I do see some potential upside up to about 165 to 170 Which is roughly the next resistance on facebook But again, if we break this level, I'm probably not going to be looking to play it. Maybe a put option Maybe short. I don't really short stocks, but that could be a potential short play for, you know, others out there And uh, that's what I'm looking at in terms of facebook stock So another one walmart is actually one that we talked about a couple of weeks ago That's actually looking very very solid right now. So we notice walmart wmt it popped up Above the uh, it actually bounced on the 180 sma here it popped above the 50 sma in the ema And now it's looking to test this resistance at about 99 to 100 dollars where I actually have my alert That has yet to be triggered from a couple of weeks ago when I actually set it So if we do end up popping 100 guys breaking 100, you know walmart's definitely going to be one I'm looking to swing trade from about 100 potentially up to about 105 That does offer I believe like a 4 5% margin of profit here on walmart looking pretty pretty solid here So another one is why why this one did very very well today and it has been over the past couple of days here guys We noticed it broke the $80 resistance. We were trading in this channel a couple of weeks ago We talked about that we covered it in a couple of weeks ago In the video is a couple of weeks ago and since then guys we popped up above $80 Held it as a new support and now we're clearly climbing up You know really testing that resistance now at about 85 to 86 dollars So am I going to put money into why why right now? Probably not guys because we are a bit over but the our size pointing at about 73 right now We're at a resistance. So ultimately I would like to see a pullback and a retest either at about 82 dollars at this level Let me show you guys with the trend line here or maybe 80 dollars right so between 80 82 dollars this level I think why why is a good buy and from there, you know, we can ride it back up to 87 or 86 dollars where it's currently at right now And then if we break that level, you know The next resistance is going to be at about 87 to 88 dollars So why why i'm watching that one pretty closely right now guys for a pullback and a better entry point a cb Aurora cannabis is another one that i'm watching today It had a good move today up about 33 cents up about 3.4 percent But just like why why guys I want to see a little bit of a pullback here in terms of a cb Get closer down to about maybe 930 940 maybe 950 bring that our side down a little bit So we can you know get closer to the support get a better entry point And then ride it back up as it confirms the reversal uptrend to the previous resistances which in this case Is at around 10 dollars uh per share here, which I think it did end up hitting today guys Let me double check 10 14. Yep. It ended up doing that we pulled back You know, this would have been a good entry point in my opinion, but I I personally missed it So I want to see another potential pullback to this level to get an entry point for the ride back up To about 10 dollars and if we break 10 dollars guys, you know, this one could be hitting 12 dollars and potentially You know even higher, uh, you know all-time highs if we do continue to push up from there So a cb that's what i'm looking at in terms of that one tesla Tesla's one that a lot of people wanted me to talk about and tesla guys Has been getting hammered and we finally got the confirmation a couple of days ago that this one is continuing its downtrend guys It's continuing its downtrend pretty much trading within this little wedge pattern that I have here as well as You know getting rejected by the 180 sma and the 50 sma both acting as Resistance levels over the past couple of months here in terms of tesla stock. So where we are right now It could potentially be a bounce point from about 265 to 270 ish Up to about maybe 285 to 90 again, which would put it at that 180 sma resistance Notice we're also at you know pretty oversold here in terms of the stock I do see potential if we hold this support level Drawn out by this trend line I see potential that we can pop up even further here guys if we do get back into the 270s mid 270s and to the 280s I think that could be a potential trade here in terms of tesla stock So those are just a couple of stocks i'm watching for tomorrow guys tesla for the potential bounce back Walmart I think walmart's looking pretty pretty solid right now, especially if we break 100 dollars You know uwt. That's definitely the number one on my list crude oil uwt. They've been on absolute fire Facebook guys, what are we going to do if we're going to break that 160 level? Are we going to slowly start to push up from 160 that could be a potential put or a call play Or you can buy shares if we do end up hitting 160 or maintaining 160 rather and slowly starting to push back up But with the news surrounding facebook right now You know the downgrade from a buy to a hold, you know, this could potentially go further to the downside We just have to see what is going on So I hope you guys enjoyed this video If you did feel free to hit that like button drop a comment down below in the comment section Let me know what you guys ended up trading today Subscribe if you're new to the channel turn on that notification bell So you're notified every time that I do make a video. I'll catch you all in the next video Thanks for watching guys. Peace out You