 Yes, hello everybody. How y'all doing today? Lee Lowell here, smartoptionseller.com. Today is Saturday, January 29, 2022. Welcome to another edition of our Saturday Synopsis. Hope everyone's doing well this morning. What do we do here at the Saturday Synopsis? Well, we look at charts. That's what we do. We look at the indexes. We look at individual stocks. We look at support and resistance levels. We look at technical indicators. I'm a technical analyst. I'm a chart reader. That is what I do to help me find my trades and time my trades to get in and out of them. I'm here to help you become a better trader. Show you what I'm seeing. Show you what I do and give you some tips and tricks and things. And what I do is could be completely different from what other people see on the chart. So I'm giving you my point of view and I hope I can help you along the way. And as a side note here, I get people emailing me. They say, Lee, we can see that you're wearing some kind of college sweatshirt most of the time. And I know you can't see it. But let me just pan down here a little bit. So my alma mater, University of Vermont, class of 1989. So there I think I just outed myself as far as my age. So there you go. That's where I went to college. So let's move on here. What are we doing? We're looking at charts. Let's get right into it. Let's open up. We always look at the SPY first, which is the exchange traded front for the S&P 500, easily tradable in and out all day long. You can you can trade it just like a stock. But it gives us a great overview of the market as a whole. Now it's been two weeks since I gave my last synopsis here. So we have we have a lot to talk about. There's been a lot of action, a lot of movement. So let's let's open this up a little bit. And for those that are just joining us, we look at daily charts. This is a daily bar chart, open, high, low, closed bar charts. Each one of these lines is one day's worth of trading. And I've got three moving averages. I got a 20 day, a 50 day and a 200 day all important 200 day moving average here. Those are all simple moving averages. And I have the 14 day RSI down at the bottom with the 80 level and 20 level as my oversold and overbought top and bottom areas. So let's just jump right in. A couple of weeks ago, we were flirting with with the, you know, we were in this channel, what do we do? We draw some channels, channels help us gauge, you know, which direction a market is moving. Obviously, we know since the pandemic back in March, February, March, 2020, we came off pretty good. And then we've just gone higher since. So the market's been in a nice uptrend. And we draw these channels, which connect the tops and connect the bottoms over a period of time to help us gauge where the market's been going. So obviously we've been going higher since and we've had, you know, we have pullbacks along the way. Okay, we've got ups and downs and ups and downs. So we use those pullbacks to, since we're bullish and I'm bullish, we use those pullbacks as as timing patterns to help us get into new trades. What do we do with the smart option seller? We sell put options. We sell put option credit spreads. Those are more neutral to bullishly directional trades. So we're always looking to get in on a pullback and hoping for the bounce. And we use these indicators that the moving averages and the channels to help us gauge the timing. So obviously, we can see here, we've had a big the last few weeks, we've had this big, big downtrend. Okay, so this is pretty scary for a lot of people. This is a pretty large move. There's no doubt about it. Very large move. And that can scare people out of positions. And it could make people think this is it. This is the end of the world. You know, the market's coming to an end. We're never going to go up again. So don't, you know, I'm here to tell you that that's not how it works. Yes, there's always going to be pullbacks. Some definitely larger than others. There's no question about that. But as I've been saying, for quite a long time, if you're in it for the long haul, which I am personally, now I'm not giving any investment advice here, but I'm in for the long haul, we know the market goes up over time over the long run, the market goes up, let's pull back to the monthly, see where the S&P 500 has been since we had the the the financial crisis in 2008 2009, we've had this massive move higher. And yes, that is a lot of it has been due to central banks around the world keeping interest rates very low. But but that's not the only reason why the market has gone up. The market goes up because the market is made up of actual companies that create actual products that create actual profits for these companies. And if a company is profitable, there's no other way for their stock price to go then up. Okay. So the stock market is made up of profitable companies. And and their price has to go up over time, regardless of whatever else is happening out in the world. Yes, interest rates has an effect. Wars has an effect pandemics has an effect. But those effects are temporary. Those effects are temporary. Okay, here's the financial crisis, interest rates were brought down. But over time, we'll have pullbacks. Okay, but the market will find its way higher, because companies are making profits. Here's the pandemic right here, March 2020, and look how quickly it it bounced back. Yes, central banks stepped in again. But just remember, companies are still having profitable products. And they're they're making more money over time. So don't let don't be swayed by the news narrative out there. Yes, we have COVID, we have interest rates are about to go up again here in the US at least we have inflation out there. But there's always going to be a news story that that can try to scare you out of your positions or try to make you think that we're the world is going to end, we're going to have a bear market for the rest of our days. It's not how it works. Yes, we're going to have pullbacks. So you have to be prepared for that and look at it as more of a buying opportunity. If you have stocks or indexes, you can buy the SPY. That's what I do for the long run. I buy bits and pieces on pullbacks to, you know, keep my portfolio moving higher in the long run. And sometimes these are, these are we look forward to these pullbacks, because it allows us to get into trades cheaper, instead of selling down here and then watching it go higher without you. Okay, yes, it's scary in real time when it's actually happening. And you may see your portfolio dropping value, my portfolio drops in value too. But we know based on history, it's temporary, and it will go back up again. When does it go back up? It goes back up when it goes back up, you know, we can't force the market to go up back up. But we can look at look for clues or cues to help us figure out, you know, when it may turn. Okay, so I've been buying lightly on the way down, not putting everything out there that I have. And there's a point where I say, Okay, I bought I bought up enough for now, I'm going to wait to see what happens. So let's let's look at the charts and see what we can figure out here and what we can glean from our indicators and moving averages and things like that. So obviously, the S&P 500 fell out of bed, it fell through the channel, it's falling below the moving averages. So here's the 200 day moving average. This is a very, very, very important moving average. Now, if you'll look back at history on a daily chart, at least, you're not going to see many times where the the indexes fall below the 200 day moving average for more than a short period of time. Now, this was an aberration. This was the pandemic. But any other time that a market moves below a 200 day moving average, it will bounce back somewhat quickly. Quickly, how quickly is that? You know, days, weeks, definitely not months, not months and months. Okay. So here's what we're looking at. The S&P 500 has fallen below the 200 day moving average. And it's having it's having this very volatile, wide churning action down here. What do I mean by that means up and down, up and down, up and down, just churning up and down in this very large range in this, this was this, this was a whole week's worth of trading right here, very large range up and down, people getting whipsawed back and forth. Well, what does it mean? Does it mean that that we're going to go higher now or we're going to keep going lower? So there's a, there's I've got some conflicting types of thoughts here. And and I and I know I'm going to sound a little wishy washy but but that's when you're in a period of indecision. Okay. So to me, when I if I'm just looking at price action and price action is just the way that the market is moving. This tells me we've got a big downtrend. We've got a congestion here, which could lead to it's figuring out where it wants to go next. I have a feeling we could see some more downside. I don't know if any of you watch CNBC but Jim Cramer said something that for once I sort of agree with is that one way what we the one way that the market finds the bottom is as is that we have a complete washout of all these longs in the market and and a complete washout will look like a really huge long one day move to the downside where it just everyone just says I'm out I'm throwing in the towel I'm giving up and you'll have this big watershed one day down move that will bounce very quickly and then we'll start to move higher. We could could see that washout move in the near future. Okay, this could be maybe a bearish a bearish flag where you get the long move, you got the congestion and then the continuation down. Now, on the flip side, this, we could we could be heading higher as well. And the reasons for that is because number one, the RSI got pretty oversold down here. Okay, so we got oversold RSI were well below the 200 day moving average for a period of time. A bounce could occur. Now, where did the SPY finish on Friday yesterday, which was January 28. It finished just below the 200 day moving average. Okay, you can see on the right side of the chart, this is little dash mark on this long bar. That's where it closed for the day. So it closed on the high of the day, which is which is a good thing. But it didn't close above the 200 day moving average got close. So there could be more selling. There could be more selling. Now, but the other reason why I think we may may see a bottom here is because of the VIX. Now, let's take a look at the VIX. The VIX is the fear indicator within the market. And it's and it's made up of it's made up of or its values derived from the front month S&P 500 options contracts. Okay, but the fear gauge, it tells you how much fear and volatility is happening in the market. And, and the VIX will always spike when the market drops the VIX in the market move inversely to each other. So when the market drops, the VIX goes up. But, and I've talked about this before, the VIX is mostly made up of these, these quick spikes. Okay, you can see all the spikes and they don't last very long. You know, a couple days sometimes, not more than a couple weeks at most, not even a couple weeks a week or two at most. So you'll see, this is where we are right now, we've had the spike close to got close to the 40 level, which we haven't seen since, you know, October of 2020. So typically, you'll have the quick spike at the VIX will retreat, and then the market itself will go back up. Okay, so I'm cautiously optimistic that with the VIX retreating, that means that the selling is becoming exhausted. And the market itself is going to turn back higher again. Okay, so we've had this churning down here, maybe because the volatility is subsiding. Now the market can run back higher. Plus we've had a pretty good down move, you know, the stock market is where people make money. And over the last 100 200 years, even the stock market has been the best place for portfolio returns, you know, better than any other, any other investment. So when you have a good pullback like this, a lot of people, the large funds, the large, the big players see this as an opportunity to get back in because you can't make good money unless you're in the stock market. There's a point where it's come off enough. There's enough bargains out there that people will start to buy. Okay, so we could see the buying only because everything sold off so much. And and there's like bargain buys right now. So I know I'm talking about both sides here. There's a there's a bearish case and there's a bullish case. But there's but but for me, there's a reason why I'm standing aside right now because there's too much indecision. I'm not confident to know yet whether okay, this thing's gonna start popping out or if we're gonna have that wash out watershed moment. So I'm kind of taking it light in our newsletters, in our smart options seller and vertical spread trader newsletters, we're taking it light as well, we're sitting on our hands for right now because there's no sense of putting money on the line. If we're not really sure what's where the market's going to go next. So we're kind of light on positions at the moment. And that's a and that's fine. It's fine to sit on the sidelines. You don't have to be in there every second of the day trying to make trades. That's not a good you can you'll lose more money than than you'll make if you're trying to trade in this choppiness here. So anyway, we're kind of light. So we're watching the other thing that I that I wanted to show you was the the the fear, the fear index, the CNN fear index. So let me pull that up real quick. Okay, so here we have the the CNN fear and greed index. And I think I've brought this up before. This tells you how much fear or greed is in the market at the moment. And when you have more fear, that means typically you use it as a contrarian indicator. So when everyone's fearful, everyone's selling, that's the time to get in and buy, right? When when we're at extreme greed, that's when we're really hitting those tops. And you know, maybe you should lighten up on some positions. I'd like to see this get a little bit more extreme fear. I'd like to see it get into the extreme fear level. And that would make me think more that we've definitely hit bottom. So keep an eye on this. I mean, it's kind of a fun thing that don't use it as your end all be all indicator, but it's just something that you could keep an eye on. So let's go back to the charts here. So we have the we have the price action getting oversold, could get could have that one last watershed sell out, or we could we could see that was the bottom, you know, we got the the VIX coming off the fear and greed index in fear mode. So that could be a time where okay, well, we had a good Friday yesterday, and we'll just continue that next week. So we also like to look at the S&P 500 futures, because that thing trades almost 24 hours a day. So I want to just bring this up here and has the same pattern as the S&P 500, but it trades longer hours, you can see that it actually closed here's the close above the 200 day moving average yesterday. So I'm kind of optimistic about that as well. So this is the futures and it closed just above the 200 day moving average got the churning action here. So let's see, I'm still a little on the sidelines, you know, I'm just waiting to see what's going to happen. And it's okay to not find the bottom, you know, people try to pick bottoms and sometimes you can get burned. But I think it's better to wait until you see confirm price action. Let's look at the NASDAQ. And we pull up the QQQ. I know I have a lot of stuff on the screen here. These are just things that I've marked up in the past, you can see the long channel, and you have these some triangle patterns and other channels within the long channel. Okay, so you have longer term moves and then these shorter term moves. So we had the sort of a sideways channel here, and it popped through just like the SAP 500. Now the NASDAQ's gotten hit a lot harder. They didn't SAP 500, you got a lot of these tech stocks that will react a little bit more violently when when there's news of, you know, right potential rising interest rates, because a lot of these companies have to borrow money. So their, their, their bottom line is more dependent on, you know, how much they're going to have to pay and their debt. And if interest rates go up, their debt levels are going to their their debt payments are going to go up as well if they're taking out new new money borrowing new money. So anyway, we have the churning action here way, way down below the 200 day moving average. I just think that spending this much time below the 200 day moving average is based on history, a reason for the snap back higher. The RSI got close to oversold as well. So we've had a lot of selling, we've had a lot of quick selling. But once again, we could have that watershed sell off, and then it'll bounce. It's always a quick one, it's, you know, big one day move and then the bounce comes. Or we just, or we found the bottom and we're ready to go higher. So once again, we're light here, we're staying on the sidelines till we can see what happens. The Dow, we can look at the Dow. This is the diamonds, the DIA, which is the exchange traded fund for the Dow. The Dow's been a little bit more flat, doesn't have the huge moves like the S&P 500 and the NASDAQ, but it still had the sell off over the last few weeks, below the 200 day moving average. But the Dow, and if you if you're playing a lot of different stocks, you'll see some of these old Dow stalwarts didn't get hit as hard, the individual stocks. So there's no that rotation people are showing the tech stocks, they're buying more comfort stocks, these old, old Fuddy Duddies, which are not bad, but so the Dow's a little bit more flattish and can help you emotionally if it's hard for you to accept, you know, a losing position. But anyway, all right, so let's take a look at some individual stocks here and see what's happened. And so we go through my list here and we'll open up with Apple because Apple was our savior yesterday, Friday, January 28th. Apple had earnings that came out on Thursday, the 27th, or was it the 20, yeah, the 28th, no, the 27th, I'm sorry, was on Thursday after the market closed. And so Apple was up $11 a share yesterday, Friday, and, you know, basically pulled pulled everything up with it, which is fine. You know that we need that we needed that. So here's Apple, I'll pull back a little bit. Apple had all time new highs above 180, not that long ago. And it fell down with everything else, but it had the nice move yesterday, got back above the support area that had been broken now it and it finished on the highs, you can see the dash mark finished on the highs. And it's just touched the 20 day moving average here. So Apple was was leading us yesterday. Thank you, Apple. I'm long Apple. You know, people have been asking me what have I been doing in this market? As I said, I'm buying little bits and pieces. I'm nibbling along the way on the down on the down move. And, you know, because I'm long term, I'm holding for long term, I know these stocks will go up over, over the long run. So that's what I've been doing. Apple, let's hope that it can continue and start making the move for, you know, more nor more all time new highs. Will it hit it very soon? We've got some back and forth to do probably. You know, you may see Apple trade around the support area for a little bit. Hopefully it won't get too much farther below again, the support line, which is roughly around $168 or so. But we'll see. We could have some churning back and forth. What else do we have? That was Apple. We'll look at Tesla. Tesla is very volatile, as we know. I can't trade it, you know, outright. I'll sell some way, way, way, way deep out of the money put options on Tesla. Hundreds and hundreds of shares lower than where the stock currently is at strike prices. But it's, it's, it's hard. The last thing that I drew was this channel and two weeks ago was on the 15th, 14th. So that was right around which day. So right around here, it was hitting along the top edge of the downtrending channel. And I said, is it going to break out to the higher or is it going to get knocked back down because of the resistance? And obviously it got knocked back down. So here it's sitting, it found support right on the 200 day moving average. We had the line here around $900 a share was the last support. It went through that. Now it's found support at the 200 day moving average. Let's see if Tesla could help the rest of the market bounce here and pull everything else higher with it. But you know, for right now, it's, it's, it's on the bottom leg of the, the edge here of this channel. So let's see if we could bounce. Amazon, Amazon got hit pretty good too. So Amazon had been in this long channel sideways channel was in a smaller channel here. And then it tried to pop above it a few times. It just, and it couldn't do it. Amazon's had a pretty, pretty big move down. And here was the bottom leg of the support line, which was, you know, 2800. Let's see what this was about 2875 or so. And it fell through it, but it's, it's churning right around the support area. If I had just extend this line a little bit, you can see that it came up finished on the highs of the day yesterday. So like the index, as you can see the churning action at the bottom here, getting oversold. So I'm hoping, I'm hoping that this is the bottom and we'll start to see the leg higher. I don't want to see that watershed wash out moment because that's scary. We don't like to see that. So let's, let's hope we found the bottom and move up. But once again, we're a little light here because we want to see what's going to happen. Let's talk about Netflix. Because I wasn't here, didn't give a synopsis last Saturday. Now Netflix had its earnings and just the market crushed it. You can see it went from, you know, $500 a share all the way down to 350. So it lost about $150 a share. But the big thing is, is that Netflix has lost about 50% of its values, given half of its value since making all time new highs here of $700 a share on November 17th. So a little over two months later, it's lost 50% of its value. That is massive for a quality company like Netflix. Half of its value, 700 all the way down to 350. You can see how low the RSA got. The RSA on the low got into single digits here, got around nine, the nine level. That's just insane. So we, this could be the bottom for Netflix. I mean, it was just way oversold. I don't think Netflix can is going to go much slower. All the all the selling from the earnings announcement is done for now should be done. So it'll probably trade around here for a while. It has to digest a huge move like that. What do I mean? I mean, it we're going to trade sideways for a while until people figure out is it worth buying Netflix now? Most of the selling should be done. So it could turn around here and then and then slowly it'll it'll start to move back up again. I mean, losing 50% of a value. That's a humongous move. So I'm going to keep an eye on Netflix and see if it starts to turn higher, then I'll know that okay, it has found the floor and the bottom's in and it'll should slowly start to move back up. So we'll keep an eye on Netflix. What other stocks do we like to look at AMD? So we always talk about AMD. I like AMD. AMD has come off quite quite a bit too was around $165 a share a few weeks ago, or you know, a month or almost six, seven weeks ago, and now it hit 100 just under 100. So for me, when I like to buy nibbles here and there, I waited until it came down to the 200 day moving average right around $109 $110 a share. And so I bought this this past week, last couple days in between 100 to 110, I actually was able to buy some at $100 a share. And so this is where I bought in, you know, some shares 100 to 110. So this is my range. Let's see if it'll continue either, you know, the support is right around 100, but we're getting oversold here. So I'd like to see it bounce back with everything else. It finished the day on the high around $105 a share. So we'll see what happens with AMD. Okay, so let's take a look at some other stocks. Let's go through this Microsoft always a solid. What's happening here? My Okay, so Microsoft sorry, a little glitch there for a second. So Microsoft still strong pop down through the 200 day moving average but came back very quickly. You can see they had earnings that came out and got knocked back knocked down but it but it popped really good. So finished on the high yesterday. Let me pull this down a little bit here. So Microsoft people love Microsoft. So, you know, use the 200 day moving average is basically the last line in the sand came down pop back up but here's it had earnings the other day. So obviously I think people still like Microsoft still in an uptrend. So keep an eye on Microsoft. Let's see what else we have here. Intel Intel look like it was starting to break out, but then it just crapped out hitting hitting lows here. Close to $46 a share. I'm not an I'm not an Intel. I'd rather play with AMD Nike. You know, these are I mean, talk about stalwart companies. Nike the biggest brand on the planet basically coming down. Lost $40 a share. You know, is it worth a buy here? Maybe maybe a nibble if you want to get long Nike maybe sell some deep out of the money puts if that's your thing. Keeping an eye on Nike Oracle Oracle, you know, been coming down. Not sure if it's the selling's done there yet. Let's see Cisco. Let's take a look at Walmart because I like to talk about Walmart. I love Walmart, too. Right. Look at that. I had drawn this line a long time ago right around 135 support line. Yesterday, Friday, January 28th, pop down below it when the early sell off and then finish on the high of the day around 137 and a half. So I like Walmart on the support around 135. Maybe nibble a little bit there if that's your thing with Walmart. Disney, same thing. Another institution. Everybody knows Disney. I've been buying Disney a little bit down here in the bottoms to, you know, eventually, Disney's going to go higher. Eventually, I'm nibbling down here a little. Got way oversold on the RSI. So that kind of gives me some some ammunition to nibble a little bit on the lows. And and you know, it's going to go higher at some point. So I nibble a little bit. That's what I'm doing. We looked at Tesla. The pharmaceuticals, you know, you'll see a lot of a lot of stocks sitting right on that 200 day moving average. This is Eli Lilly, Bristol Myers, Pfizer, Merck, you know, look at all the pharmaceuticals, Kellogg, Verizon. We've talked about Verizon before. Let's take a quick look at Verizon again. So Verizon been in this down trying to have been talking about Verizon. I use this as the example of waiting for it to bounce back to get in. Now Verizon been in this channel, came down, got even lower than the second channel down here, and then it popped and made this bull flag. And I talk about bull flags the bullish and it did pop up bullish, but it got knocked back down with the rest of the market. Although yesterday you can see right here closed on the highs of the day is is Verizon by here. I think it's I think we've I think Verizon sort of found the bottom here you can sort of look at this as a head and shoulders bottom. You got a shoulder here, you got a head here and the other shoulder here. I think if it gets back above $54, $55, you know Verizon should start to move higher again. So I'm keeping an eye on Verizon paypal. You know, I like the payment sectors paypal and square. This is PayPal you know getting hit with the rest of the market. Maybe we got some divergence here where you can see the price action still going lower, but yet the RSI sort of moving higher. You know, I'm not sure I'm ready to get in yet square. Same thing. I think square is a little weaker than paypal. Yeah, look how look at this. Just this constant and hit got below the 20 level on the RSI. So, you know, maybe square and PayPal are starting to find some bottoms here. Keep an eye on it. You don't have to try to pick the bottom and get the exact bottom so you can brag to all your friends. You probably want to wait for the price action to let you know it's time to get in. But this is, you know, what we can do is draw the channel here to kind of help, you know, you kind of connect you connect the tops, you connect some of the tops and you connect some of the bottoms. Kind of give you the visual of where the stock is to help you make that decision of when it may be time to get in. OK, so it's it's really down this bottom leg here. Got over so I think the next move should be back up towards the top of the channel. Now, whether it gets above it and out is is the big question. So it could pop above it and you think, OK, this is the start of the, you know, the move higher and then it hits the resistance here and then gets knocked back down again. What you want to do is you want to wait to see it pop out of the channel, have the sideways action and then start its move higher. So, you know, Square may not get back into that that sustained uptrend until it gets to maybe above $140 a share. It has to get outside of the downtrending channel, have some sideways actions and then move higher. Then you're sure that, OK, I'm getting in on a more bullish leg, a higher probability trade or else, you know, if you if you try to get in early, it could get knocked back down again. So I'd wait till it gets out of the channel, sideways action and then moves higher. That's the kind of things that I'm looking for. Lululemon, downtrend. I mean, you got the RSI starting to turn higher. Costco, McDonald's. McDonald's still strong stock. Didn't get down to the 200 day, but look at the move higher. It was up over $7 a share. Pepsi, still good. Pepsi, let's take a look. Just nice, nice action, hugging along the 50 day moving average. Pepsi, looking good as a, you know, a price mover higher. This could have been an area to nibble on some shares. I think Pepsi is going to just keep moving higher. What else do we have? Home Depot had a good day yesterday. Twitter, people like to talk about Twitter. Let's see what Twitter looks like. Twitter is in the down move. Got the RSI and the lows again. You know, we could be, it could be trying to find a bottom here. Could be trying to find a bottom here. You want to pick bottoms? Eh, you know, maybe you could nibble a little bit. You know, I'm keeping an eye on Twitter. This could be the bottom and it could start to move higher from here. So just keep an eye on Twitter. It's had a nice pullback. You know, this could be a bargain for some of you if you haven't bought into Twitter yet. Um, what else? I don't like to Facebook. I'm not a fan. IBM, Google, Google's come down under the 200 day moving average as well. Keep an eye on Google. It may bounce back. So let's talk about the Bitcoin stocks, Riot and Mara. Bitcoin's been losing a lot of price action, too. So this is Riot coming down to getting kind of oversold, but it all depends on where Bitcoin goes. Let's look at Mara. Same thing. It's following Bitcoin down. I have no stake in either one of these. Just showing you just showing you these peloton. We know the story of peloton. Just crapped out. I mean, let's go back to the monthly so we can see where it where it had its IPO. The low of the IPO was under $20. This was what was the low here was $17.70. We're 25 and change. You know, maybe maybe I'm not even going to say by peloton. It's just the company who knows what's going to happen. I don't think it's even worth getting into. But, you know, keep a keep a watch on it. eBay still in this just moving down. Oh, so let's talk about Clark's because this is a position that I am in and I've talked about this before. I've been waiting for Clark's to finally break out of the sideways action. I had gotten in around $175, $176 a share, which was, I think I got in around here, went up to high 180s, thought I was doing pretty good, and then it just got crushed. It was some investment firms that downgraded the stock a little bit. So it dropped down to, you know, 165 or so. I'm holding at least, I think I got in at a good level. I'm holding, maybe I could have stopped out here, but I didn't buy too much. So I'm going to hold and see what happens. But Clark's unfortunately got knocked back down into this middle of this channel here. Hopefully it can find its way higher. All right, I think that's all for today. So the bottom line is here, you know, we're kind of in a holding pattern. Let's bring up the SPY one more time. We're kind of in a holding pattern here, churning down towards the bottom, just under the 200 day moving average. I'd like to see a continuation next week, but we could still be in for that watershed, big last one day down move. So I'm kind of holding tight. You know, you don't always have to have a conviction. You know, the market sometimes will tell you it's not ready to show you where it wants to go. So it's okay to sit on the sidelines. That's sort of where we are now with our newsletters and where I am personally, even though I've been buying little bits, little bits and pieces on the way down, just to say I can dollar cost average a little bit. But I'm waiting to see what the next action is here. Okay, you know, when you're in this channel, you have more conviction that you can make these trades with high probability that it's gonna keep moving in that direction. But now we've had the knock down, so we need to wait for it to find the bottom. I don't like to short, I don't take bearish positions all that often because I just, I don't do well with them. I can't make money enough on bearish positions. So I stick to the bullish positions and I wait, wait for the confirmation, all right? So that's all for your Saturday synopsis for today. Let's quickly take a look at our website. Give me a quick second. You go to our website, we have our free put-selling basics guide. Go to smartoptionseller.com, that's our website. Put-selling basics here along the top. This is what we do. We sell put options, we sell put option credit spreads, but come here, put your name and email address down at the bottom. We'll send you a free copy. That's what we do. Over here is our services tab. We have our newsletters. We sell put options, we sell put option credit spreads and we have our one-on-one coaching session. If anyone out there is looking to get another leg up or a leg up or just, you know, increase their trading, option trading knowledge, you know, think about our one-on-one coaching. We're having great success. We have taught a lot of students and you know, it's going real well with that. All right, so hopefully this video today has been helpful to you. Give me a thumbs up, leave me a comment. Don't forget to subscribe. Send me an email as well. I love hearing from you. All right, that's all for me today. I hope everyone has a great weekend and a great trading week ahead. This is Lee Lowell signing off.