 What is going on everybody is Stas here. Welcome back to another video. So in this video, we're going to be doing an overall market update looking at the Dow Jones, the S&P 500, and the NASDAQ. We're going to be talking about the jobs report that came out yesterday that had a major impact on the stock market today, the 4th of January. We're also going to be talking a little bit about what went down in the Fed meeting with Jerome Powell, Janet Yellen that occurred this morning at 10.15 Eastern Standard Time. And we would be doing a trading update today, but I didn't actually trade today. And I'm going to be talking a little bit later on in this video why I did not trade today. But let's get started. But before we do get started, for all your new viewers out there, my name is Stas 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 who 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. So let's run through some technicals very quickly here on the Dow Jones, the S&P, and the NASDAQ. Then we'll hop into the Safari article, look at some jobs data, as well as what happened at that Fed meeting this morning, just a gist of what happened this morning, and just whether it was positive or negative. So today, guys, ridiculous green day. I'm sure you all know this by now. If you guys were paying attention to the markets, the Dow Jones finished the day up 746 points, up 3.29%. The S&P 500 closed the day up $84, up 3.43%, and the NASDAQ had the best day of them all, up 4.3%, up $270, nearly $270 on the day. So let's just see what these technicals are telling us in the Dow Jones before we talk about the two other indexes. So long term, the Dow is successfully holding above this support at around $22,300. It already bounced on this support at around $21,700. This was after the massive sell-off that we had throughout the entire month of December, pretty much. We got all the way down to here. We successfully held that support. We broke above this support here, which became a new resistance when we broke beneath it. We're holding above it again. And now we're testing, yet again, the highs, or rather the supports, from back in the sell-off that we saw last year in 2018, back in February and March of 2018, when we pretty much sold off from 27K all the way down to $23,500. And the fact that we're right at that level, guys, this is a clear resistance point, because remember, when old supports are broken beneath them, they become new resistances. So the fact that we broke beneath this, it became a new resistance. And that's exactly where we are right now. So in terms of a longer-term chart, guys, this is a very strong resistance for the Dow Jones. And if we take a look deeper into different timeframes, we can see some other stories that the Dow Jones is telling us. So if we're looking on this 180 chart, we notice that we're actually at a resistance point on this 180 chart, right under the 50 simple moving average right here, which has proven to be a resistance in the past. So if we do get rejected by this 50 SMA, the downtrending lower-low, lower-high trend is still going to be valid, because think about it, guys. The previous high here was at around $24,000. So if we get rejected at around $23,500 right under this 50 SMA, that is going to be a lower high from the previous, which is why this trend is going to be continuing if that does end up occurring. But let's say we break out of this resistance point here, that is going to be a pretty solid reversal pattern to the upside for the Dow Jones. And if we're taking a look a little bit closer on the Dow Jones at the 20-day chart, we can see that it's still technically uptrending over these past couple of days. This has not yet broken the higher-high, higher-low pattern quite yet, because this low that we have here is higher than the previous low at around $22,300. So that big sell-off we had yesterday actually didn't break that trend that we were on over these past couple of days. And I can show you that right here if I can just remove this drawing very quickly. Let's take a look at this, guys. We can see this is not quite yet a break of pattern, because again, like I said, higher-low right here, although we did get rejected by this resistance at around $23,500, and we're still not above that resistance quite yet, the pattern is still there. But let's say we don't end up breaking this resistance. We form a double top here. That is going to be a good reversal pattern to the downside. But let's say tomorrow or the next trading day we have, which is on Monday, let's say we break out of this resistance and out of the 180 SMA, that is going to be a solid reversal sign for the Dow Jones to the upside. So we're in a very interesting spot right now, guys. This could potentially be a double top at the resistance point. This could be a break out of the resistance point right here. That's what we could be trying to do in terms of the Dow Jones. And again, it's all about playing it by ear in terms of trading and watching what is going on pre-market hours, what the futures are telling you in terms of the Dow and all of the indexes and that matter, so we can really just decide what we're going to be trading for the days. The market going to be pushing down, meaning that we're going to be trading some bare ETFs, or is the market going to be pushing up? Is the market looking like it's pushing up pre-market hours in the futures, meaning that we could play some large cap stocks on the bounce back or some bull ETFs that we do trade on this channel all the time? So keep an eye on those points, guys. Very, very important for the Dow Jones. And if we're taking a look closely at the S&P 500, guys, this one's making quite a different pattern than the Dow Jones in terms of this 180-day four-hour chart. Notice that the Dow Jones was at that double top that we just talked about. This one's already made a higher high in terms of this chart on the 180-day, and we can take a look closer here on the 20-day to get a better idea of this. So let me just quickly clear this drawing, remove drawing, and we can see exactly what I'm talking about here. So we noticed the higher low, right? Higher low right here from the previous low, and we broke that resistance here at about 2,515, making a higher high. But remember, we're still under that 180-simple moving average resistance right now on this 20-day one-hour chart. So this is an interesting spot for the S&P 500 as well. But in terms of the uptrend, we're further in an uptrend pattern in the S&P than in the Dow Jones. So what do I think is going to happen here, guys? Well, since we had a lot of green days in a row, we had some good news from the Fed. Jobs are looking good. This could continue to send the market up for a couple of days, and especially since there are some rumors out there that Trump and the President of China are in the process of getting closer and closer to a deal in terms of the trade war. This could continue sending up the markets. But overall, guys, you cannot deny the fact that the market or not the market, the economy is still slowing down, right? We've been in this bull run for 10 years. Something has to give eventually, guys. So if we take a look back at the 180 chart, we're also at a resistance under this 50 SMA, which again, just like the Dow Jones, the 50 SMA on the S&P 500 has been a resistance over the past couple of weeks. We can see it here, guys, here. We can see it here as well as here. This point in the chart has been a resistance. So, you know, guys, we've had a lot of green over this past week that we could be seeing a reversal to the downside next week or the week after. You know, we've had a lot of good news that I'm about to talk about these past two days about what Jerome Powell said, what happened with the job reports, rumors that Trump and the President of China are getting closer to a trade deal. I think these positive pieces of news have been pushing up the markets over the past couple of weeks, but rather the past week, right? But you can't deny the fact that we're 10, 11 years in the bull run right now. Growth is slowing down, right? Companies' earnings are falling. Apple sales have fallen in China, which is a huge indication of the US economy, right? As a whole, and the Chinese economy, as a whole as well. Apple has cut their revenue forecast. These are things that you have to take into consideration. And, you know, don't let these past couple of days cloud your judgment and make you think that, you know, things are slowly reversing to the upside, right? Because there's still a lot of negative out there. There's still a lot of downside in my personal opinion. And just, you know, the economy has been slowing down, guys. And this is eventually going to take a hit, an even bigger hit on the stock market, whether it be, you know, later on in 2019, in 2020, or maybe even in 2021, guys. Who knows when we're going to hit that recession. But it's coming, guys. It's coming. This is something that is very obvious, right? The economy, like I've been saying, is slowing down. And that's one of the first steps, or one of the number one signs that a recession is slowly creeping up on us. So let's take a look at the NASDAQ very quickly, guys. Let's see what is going on in terms of these technicals. So just like, you know, the S&P, this one has made another higher high from the previous, you know, couple of trading days that we've seen. And in terms of that, guys, we can see it's right under the 180 simple moving average resistance that we do see on the 180 chart here. So very similar to the Dow, the S&P, the NASDAQ is at a critical resistance right now on the longer term, 180 day for our chart here. So, guys, next week is going to be a very important week in terms of technicals for these major indexes. Are we going to break out of this 180 resistance for the NASDAQ, which is going to be a huge move in my personal opinion, if that does happen, or are we going to get rejected here? Are we going to get rejected in the S&P? Are we going to get rejected in the Dow Jones? There's a ton of questions right now, and every index is at a very critical point. And I'm honestly just really excited for next week's trading week. So let's talk about what happened today, you know, in terms of the Jerome Powell Fed meeting, as well as the jobs report. Let's see some numbers in terms of that. And we're going to hop into my Safari tab really quickly right now to do just that. But let me take a sip of my monster, guys. It's that time of day right now, 6.30 p.m. Eastern Standard. I got to get some caffeine, man. It's been a real long day. But judging off the title of this article, we can see it right off the bat. US Jobs Report highlights economy strength despite market tumult. I don't know what tumult means. It's the first time I've seen the word, but I'm guessing it means, you know, the market difficulties that we've been seeing, right? So this is a very good sign based off of what we're going to see right now. So a blockbuster jobs report and reassuring comments from the Federal Reserve Chairman reminded Investors Friday to relish, at least for now, the economy's undeniable strengths. Markets reacted buoyantly after lurching for weeks over a faltering outlook at home and signs of a global slowdown. So pay attention to this, guys, in this chart right here. The Labor Department report showed one of the strongest months of job gains in the last decade, with employers adding 312,000 to payrolls in December. Wages which had been lagging until recently showed impressive gains. So take a look at this chart, guys. We can see, you know, the previous month here, I believe this month right here, we were not even nearly as high in terms of, you know, new jobs added as we were this past month in December. So this is a very strong sign for the economy. And the last time we had something this strong was back in the beginning of 2018 when we hit around 315,000. And before that was right around the middle of 2016 when we hit around the same number, 320,000 roughly, right? So this 312,000 number is super, super impressive, guys. And I honestly think this is the number one reason why the market shot up today and with reassuring points from Jerome Powell as well as Janet Yellen in the meeting this morning. And we're going to see some more things about that right now. But keep an eye or, you know, keep attention to these job numbers, guys, where they get reported every month. Very, very important, you know, for the overall economy, especially in the state of the economy that we are in right now where any positive news really does affect the stock market because we've been getting tons of tons of tons of negative news that I've been pushing the stock market down. So really any positive news that we get, you know, seems to do very well, you know, in the eyes of the market, right? So Jerome H. Powell, the Fed chief, cheered the report while offering assurances that policymakers would not move quickly to raise interest rates. Very, very big sign here as well. Keep an eye on the interest rates, guys. Very important point right here by Jerome Powell. Investors have been concerned that additional rate increases would weigh in on growth. 2018 by so many measures was a good year for the United States economy. He said in Atlanta this morning, he also saw up to East concerns about the stability of the central bank. When asked whether he'd resign, if President Trump asked him, this was actually pretty funny, guys. I was watching this live. He simply said no. So that was actually pretty funny, guys. Let me know if you guys caught that. If you guys watched it, drop a comment down below. It's an unequivocally phenomenal report all the way around, said Ellen Zenter, chief United States economist at Morgan Stanley. Anyone that finds something negative in this report is simply cherry picking. Economist offered raves that could appear on a movie post or a book jacket. Extraordinary. Blowout. Wow. The figures they said offer a resounding response to the question of whether a recession is imminent. You know, this is something very, very important, guys. The fears of the economy tipping into a recession now have clearly been overstated. So if you guys want to look deeper into this article, I'll link it down below in the description box. The first link, go click that article. This one's super long. I don't want to just be here for another 15 minutes going over everything. It's a pretty decently long article here. There's some charts that you guys can look at. Again, it's linked down below. Go take a look at that article. But let's just hop back into the Thinkorswim platform and just wrap up this video and talk about some closing thoughts that I have on the market and what I personally think is going to happen for this next week. So we've seen, you know, a ton of volume, obviously, into the large cap stocks. The indexes have been doing phenomenally well. We've literally went from a low in the Nasdaq the day after Christmas at about 5830 all the way up back to 6400. We've had a 6700 point push in the Nasdaq over the past week or so. The Dow Jones has had another awesome push from 21700 all the way up to 23400. The S&P from 23,050 all the way up to about 25,050 or 2550, excuse me. You know, these indexes have had very, very solid pushes. So, you know, you can't deny the fact that judging by the technicals right here, we are at rejection zones for every single one of these indexes. So this is why on a technical basis, I'm still bearish on the market. I want to see at least a break above this level, $2,600 for the S&P 500 before we are fully reversing to the upside in my personal opinion, right? Because at this point, we're breaking out of the 50 S&P resistance. We're breaking out of this old resistance here, which was an old support at around 2620. And then at that point, guys, I would want to see a break above the 180 S&P, right? But until then, we're still technically downtrending. And on a technical basis, I am bearish on all of these indexes right now just judging off what I'm seeing from these charts. And like I mentioned earlier in this video, guys, you know, we've had a pretty decent amount of good news over the past couple of days, right? Like I said, the jobs report, you know, rumors that Trump and the president of China are coming to a deal very soon here. Who knows? That could be jargon. That could be BS. We really don't know. But the fact that that rumor is out there, this is having a positive impact on the market, right? We've seen, you know, even though the economy has been slowing down, we've been seeing some pumping up over these past couple of days, you know, in the overall market. So I think that this good news is going to fizzle off over these past couple of days, or over these next couple of days, rather. And I think we're going to be falling back down into, you know, deeper territories for the S&P, the Dow, and the NASDAQ. So let me know down below, what do you think is going to happen, guys? You know, right now, we're in very interesting spots. And I would love to know what you guys think about this, what your opinion is on this. Please leave a comment down below. I answer to every single comment. We can chat about this. I just want to know what you guys think. So if you found value in this video, feel free to drop a like, leave a comment, subscribe, follow me on Instagram and Twitter, and join our Discord group, as well as our Facebook group. All of those are 100% free, and they're all down in there in the description box. And if you guys haven't signed up for Robinhood, there's a link down below that if you sign up using that link, you get a free stock, and I also get a free stock. So if you are interested in that, guys, free commission-based brokerage, Robinhood, again, the link is down below in the description box. Thanks again for watching the video. I really, really appreciate all the love from you guys. Peace out. Have a great weekend. I'll catch you in the next video.