What's going on guys welcome back to a very slow stock market, the good news is: is we have earnings reports, so this basically means companies announce their earnings stocks, jump stocks drop down, it creates volatility thumbs up there you go. That's all there is to it. So what we're looking at here today is going to be tesla tesla's, a stock that reported earnings last night. They had a downward move.

Wasn't really that big? Overall i mean it really was big. I mean from 744 to 7. You know. 715 is a big move, but we've seen bigger.

Nonetheless, what i was looking for today on tesla is to see if we would get back in between these dotted white lines here. I know there's a lot of stuff going on, but this one in this one long story short that is long term resistance marks they're, not very strong ones, though um, so you can see we dropped to them. We tried to bounce we broke down. We came back up, hit resistance, came back down, bounce hit him again as resistance, so for now, tesla is respecting this price point of 724 as true resistance.

Therefore, we can only really look to be extremely long bias, tesla on a good reversal, bounce or a break up and through 724. Otherwise, it's probably going to go a little bit lower. Initially this morning i wanted to be long biased when we were going up trying to get through now that i've seen us reject and hold below we're going to stay on the downside until we're back reclaiming prices of 7.24. Now the issue i have with tesla for myself is: i don't really have any go-to price targets that are that are really close by that seem obtainable.

So that's my other issue with being bearish is really the closest support that we have on tesla's all the way down at 6 55, and it's like really is tesla even, is really going to go to 655 or we're probably going to go through a little dip By and try to reclaim this and continue higher so so far, the the pre-market formation doesn't look great uh to the bull side, but the long-term charting doesn't look great to the bear side. So intraday doesn't look good on the bull side. Long term doesn't look good on the bear side, so i'm kind of like don't know what to do exactly yet. So this is a situation probably best for me to kind of sit back and watch how neat or how tesla trades a little bit for the day.

But nonetheless um the trade that i would like the most would be a long. My the trade i would like to most likely happen would be a long move which would be back up to reclaim prices of set of 24 because i'd rather see tesla go up and go down at this point. So we'll see what happens but do make sure you mark off kind of 724 and the 737 as two kind of significant price points and then other than that i guess i'll just be trading off the intraday channel for the most part, all right. Next one we'll talk about uh is is aldx just briefly, because this was the first pre-market mover squeeze straight up, shot stock that we've seen in a long time.

We love these. All traders love them, they're great volatility, the upside, so you can make it on the way up and you can make it on the way down. It becomes a playground for traders, so we ended up taking a short today this morning did a little shorting but didn't catch it on the top. By the time.

I even noticed that it was kind of like in this area, but either way the price point of um, 15, 20 and 15 40 were perfect resistance marks i'll show you how to get there. You go to the daily chart. You'd, look for the one deviation mark, which is that line there, which mine lines are a little off, but you look for this little line and then you go to the four hour and you look for that little line and it gives you those little pocket. This little price zone - you could say these trend lines, are going to be resistance.

Yada, yada anyways goes up. Those price points hits resistance, swings lower um. Don't really think this is going to trade phenomenally on the day, but there is still potential for some range. You have a long way back to true top tick resistance and you arguably still have a little bit of ways down to the regression trend.

So i could see some trading still taking place on this to the bear side um. So we're going to be watching aldx going into the open for right now, a couple other things that we will mention, or probably just talk about briefly, is neo. Only reason to talk about neo uh is because it's still on the long as we suggested back from here. We said it's time to get long neo.

You can see it's really performed phenomenally since then. It's a very strong trend. This thing um on its pullbacks, are going to get bought up pretty quickly so far the pullbacks are getting bought up in every second, so pretty much i'm waiting to get in on a pullback. I traded this from basically here up to here thought we would pull back more than this, so i could re-dip by guess what didn't happen.

We continued higher story of my life so now i'm just kind of waiting for a decrease in the share price back to trending support areas to add back long, we'll see if we even get that opportunity for right now. If, in the event, we have a random down day from neo, a great dip by level would be 40 and 85 cents. That's really like right now, if neo sold all the way down, that would be a great dip buy as well as um as well as 38.90. The likelihood it goes to 38.90, not gon na happen, the likelihood it goes, the likelihood it goes to 38.90 and then it's a really quick dip buy and the market continues up.

No because that's too big of a drop. But if we pulled back to 40 90, then it's still possible that well i mean that's even kind of far too, because that would take you below this low here. So, even that's a little bit of a stretch so either way still if it came all the way down to here, that's a great dip buy um, but for the time being, i don't even really think we're gon na get there so really even a dip down To i mean really: that's that's the dip buy. I mean that is i mean it's just plain and simple, so anyways bullish on neo overall long bias.

We still have targets to hit on the way up. I think we can get back to this previous price. Top consolidation area to the 46 to you know, 48 price. So i think that's where we're going myself on neo all right next thing, we'll talk about is amd amd was a stock that we recommended yesterday as a long play to go to the price of one.

Second, we recommended neo as long up to this price yesterday um this white trend line you can see today. Well, we got there yesterday almost to the t perfectly. So this was our recommended: top tick, long, move and resistance. So you could trade up two and then go short at that's what we do.

Sometimes, when we have a target, that's pretty far away. That seems likely that we can get there we'll look to ride the market long and then, if we want to, we can close out the position as we get there and then we short the market at it, so that we have a day trade up and a Day, trade down so overall we're still bullish on amd, just not extremely bullish. Okay, we were way more bullish yesterday today, we're not really that bullish. Today, it feels like might be a limp day where the market just tries to limp up, and you don't really get uh the significant momentum that you saw the day before and the reason that is because we've already reached this price target and then secondly, the next Price target up is going to be into this resistance, previous price resistance and that's at 87.59 to 88.45.

So our next little move up, we expect could be 87 um, 80 to 88 40s area. So i think that's going to happen, but i don't just i didn't expect that neo was just going to rip and then just keep running all the way up through this point without a pullback. So i figured the easy obtainable target was to look for for amd back into this 88, 50 to 87, 70s and then, depending on how well it holds and how much strength it has as it gets into that price point or near it could give us the Decision, whether or not to look for more upside or to become a little bit more neutral at the time, all right, so that's amd now what we'll do is take a quick peek at the market so that everyone's kind of caught up with speed there um, as You guys can see all-time highs back when you know uh, you know, doesn't even matter just just a couple weeks back we recommended the spy would pull back to the nine moving average when the nasdaq pulled back, and then we would go back up. So we pull back to the nine moving average, we're now pushing higher same thing with the nasdaq you can see.

Our recommendation was that the pullback here was going to go down to the regression trend, which it did that that's this white trend line. So when this was going up, we said look for the pull back to the regression trend. That's where your dip, by long is the day that the market was down here. So this was before market up 9 30.

We actually not even nine. Like nine o'clock, we post the video totally the market is on trend support when it was here. We are now here not that that's all that fantastic, but it's because we were on this white trend line market was on trend support. That's when you need to be going long, you're not supposed to be going along here.

The books tell you to buy breakouts, which can work at times, but that's really you're supposed to do opposite, that you're supposed to buy the dip or you're supposed to buy opposite. The move that you're currently in so theoretically, you should be going bearish. This move if it were actually on resistance, but it's not right. Why do i know it's? Not because look it well.

Actually, oh i lied it is. This is actually my fault uh. This is where you should be going: uh bearish. You can see we're right on resistance.

I remember marking that off the other day now you can see that trend right there. It's and i don't even think this is going to hold very well as a resistance. I wouldn't short this move myself, but you can see how we got up to this trend. Let's see, what's happening the price action here.

Look it look, it look at it after hours, resistance goes right up and above down right, two down right. Two down now, it's trading around that price level is what creates the after-hours high. That price level is what creates your pre-market high. So when you wake up at 9, 30 in market open and you're, looking at amd you're looking at facebook you're looking at tesla you're, looking at anything, you go.

Oh, it's got a pre-market high of this. If we can get over, it's going to be good right. The trend line that my cursor is on is what creates that pre-market level that you then look at later to go. That's where the breakout is so when we're trading right.

The way we do our analysis we find where these trends are going to be at, and we know that that's a good price level to start getting active around and then those trend lines and those spots that we start trading at create the pre-market high right. So when you get a pre-market high breakout and it squeezes a move, you might be squeezing someone that trick a trade there. So all i'm trying to get at is that these pre-market lows pre-market highs, they're, not random. They exist for a reason and they exist because people like me and other traders are trading off these trend lines which end up, creating and making the pre-market low in the pre-market high, which then becomes a visual price support or resistance for you later, when you're trying To trade in your pr market, open you go and look and say: tesla has a pre-market low of let's just call it 700 bucks you go if we can break that the stock's going to go down we're the ones that created the dip, buy and created that That 700 support you see pre-market and then, when you're trying to break it down, if it's still actually on trending support, we're going to be trading up.

So it might break a little bit and then go back up. And that's because the trend line that created the 700 bounce might actually be at 695 during market open. So you would put a horizontal price level right at the pre-market low going for a dip buy and so you'd buy as the price gets there and then it breaks below and then maybe you close out and then it goes back up and a lot of times. That's going to be because the pre-market low was created by us buying a dip there when the trend line was there early, pre-market, okay and then at market open.

The trend line that we were using to buy the dip pre-market now is at 6.95. So it's actually five dollars below where it was pre-market. So you're going to look at the price pre-market of 700 and say that's the dip buy and we're going to look at the trend which is actually at 6.95 and that's where the dip buys at so you could go long slightly early drops down. You stop out stock rips, so anyways that right now, nasdaq, that's kind of the pre-market high level um and actually i got to run.

I got to get back online with the premium members, so uh anyways have a good day. Everybody hope you guys uh learned something new there and i'll see you guys on the next video take care.