What's going on guys welcome back to the channel thanks again for tuning in uh, so we're going to run over the qqq we're going to run over the spy, but before we do that, i do recommend that you go over and just kind of peek. My twitter out, you don't have to follow it. I'm not saying go, follow them to sing if you're interested in some more trading stuff a lot of times i'll post thoughts and ideas here. So the first post i did was last night at like 12 hours ago.

You can see how many pictures i posted last night on the market, so here we go all right. 12 hours ago i posted a bunch of stuff on the market and started this kind of twitter feed. So i highly recommend you just go back and start reviewing. This and do it today, because the levels will be the most accurate.

You know the sooner you do. This it'll be the easier easiest for you to learn from so go from like this 12 hours ago, post and just start going through all of these, and it will pretty much kind of walk you through patterns and support levels that are happening in real time and, Like how you can expect the market will do one thing in the event. Something happens right so, like you'll see um. You know, for example, ready.

Let's see i'll get to a spot um you can see where we at that. You see that dotted white line right there that big fat one on the screen that one you'll see that the market does end up selling down to there, and i give you a thumbs up. Watch you'll see like i'm pointing at resistance and then i'm pointing at this line saying say we're going down to this line and pointing at this line saying we're getting closer and then we got there and there's a thumbs up. So i'm kind of walking you through how markets are trading, so you can learn a lot from that and the good thing about it is it's kind of kind of line you up for today as well.

So you know i highly recommend taking a peek at that. Now, what i'm going to do is just kind of walk you through all the price points i assume the market will trade to and from and around so i'm going to give you all the prices you could expect. It all said and done by the end of the day the market probably goes to, and then, if you want to stick around towards the end of the video i'll, go a little bit more in depth. As far as my thesis things, i think will actually see happen um.

So that's more of the bias that's more of the the idea, and so, if you just kind of want to stick around for the prices and then you kind of go on your own and figure out how to go from there, totally cool so pretty much today, You're, either going to see this price hit of 385.69 in the market. We already hit this price this morning, pretty much because we came back to retest it, so that was a break down back to retest all right, so we already hit that one. My first down target today is 374.60. My max down target today would be 366.70 or 366.9736.

The reason that's the max down target is because, like that's like 1100 points away, so that would be like a crazy drop. So i i just wouldn't even really expect the market to go below that if we even went there for what i think would be crazy to go there. So those are all the targets for the nasdaq. So you have one two three four right and if you want to stick around towards den i'll talk more about how they're aligned and which ones i'd assume we trade to as opposed to others.

But again you know to be very simple about it. You have four levels. One here is basically where the market kind of gapped below. So again, if you go back to fill gaps, then you'll probably touch that you have this one, this one and this one all right over to the spine, all right.

So now, when we go over the spy, the spy is situated. You know slightly different than that. Um you kind of have levels that are slightly closer yada yada, but pretty much. You have level here, uh, 456 75 level.

Here, uh, 457. 457.67. You have a level down here at 448.88, give or take uh, and then you have a level down here. At 4, 42 15., so you can see.

We've already touched one two of my levels: um and honestly, we didn't even really touch them. The computers and the algorithms didn't think about that. So these are those really quick, random wick candles that you are not participating in and look at where they're going to pretty much exactly this one exactly goes there. This one went through a little bit higher, which i think almost pretty much filled the gap, maybe not, but you can see that wick handle that you're not able to trade.

Pretty much goes directly to my level. Again, that's not a coincidence. Okay, so you can already see algorithms are trading off our levels this morning pre-market. So we've already touched the two on the upside uh.

The ones in the downside we have not touched are the 448 98 and the 442 14.. So um on the downside, you should expect that that's your first target and then sort of your max would be this guy down here. Um now i've actually seen them go through my max targets at times, and that's just one of bigger moves happening that even i couldn't even really tell was even possible happening, but you know it doesn't really matter because again, if the market were to go from 453, All the way to 442 and then go down a couple points i mean. Who really cares? You just basically got you know a 900 point move anyways or whatever it is.

So those are all the targets and price levels. I expect that you will, by the end of the day, see the markets touching now, if you want to kind of stick around, i'm going to go through some thesis some thoughts about what i expect we'll see by the end of the day, all said and done, And how things are going to trade so um? The way i see it is this is the spy weekly we just broke below the weekly all right, the one here, this thin dotted line. That's a four hour chart. So that's a six month level.

So that's like more macro, maybe if you want to call it right closer, so this is a six month. This is a yearly, but this is a weekly, and this is just you know four hours so anyways. This is a weekly level. We just broke we'll just talk specifically on the weeklies right now make it easy, so we broke down the weekly, so this is basically resistance now and also that dotted line.

There is resistance right we broke through broke the weekly. You can see the ghostwick algorithm tags that pre-market, so that's almost like a re-test of the breakdown and then you can see we trade up towards it and get another ghostwick to it. So again, that's like another retest of that breakdown. Now, that's not to say that the market won't trade up and into that level to start the day and then go bearish.

So i'm thinking in the event markets, don't just sell off out of the gates and go bearish. Obviously the market would then probably go up. Well, where is it going to go up to so i would imagine if these aren't true legitimate retests for a breakdown move, then we would see the market grind back up basically to this price, which is like 456, 70s, 450, 650s to 458, potentially so again, grind All the way back up to here to retest this breakdown. If we can get over and hold you dargo okay, maybe markets are going to hold for the day.

Maybe we're going to start up trending by tomorrow and if they fail to get above and they show good weakness, then we would be bearish off this level. Maybe assuming that a true downtrend does start and we go back to our down targets and you might see it's something like that where the market runs up, gets to here and can't get above, and then it falls apart. So that's one play you could potentially see on the market hell, it doesn't have to do that. It could just go up and then just get smacked down like that right.

You know so many things can happen, but the idea of at least planning, for you know the movement of where and to it can go, can really help you. So that's one idea spy up to hit resistance again to reject down in the day. The other plan is we just don't even do that. We just sell straight off down to 449, then we would look for a counter trend, long bounce either.

On top of the level that's one play um. You could also see a situation where you break it and you then counter trend bounce back to try to get back up above to start an intraday uptrend. And if you fail, then the downtrend resumes um. That's one idea and then, if the downtrend resumes on the spy, then you go to 442.23.

That's one of your ideas, which arguably may or may not be too hard to do today and the reason being is because the average true range of the spy right now is 6.50. So, just from where it's currently at down to there would be a move of 11.89, so we'd have to double its average true range to go to that one, and that's why i was saying like that's my max, because even that seems kind of unrealistic. But you know a move from where we're currently at down to this level is a move of 496., so that move to that level is totally in the realm of possibility. Just given the average true range of the market and from here up to this level is totally doable because that's only 394 and the move in the market is 650 right now so, based on the average true range, you know the two price points and targets we're Giving you on the up and the down are totally within the realm of possibilities of happening because they're not too out far or too outside the average true range, as of right now so to wrap things up on the the spy.

Here i want to zoom out on a 10 day, or maybe even a 30 day like chart. So if we look at a 30-day chart, this might help you out a little more. I want you to think back to when the market was going through this dip. The levels have changed a little bit, but i mean they're pretty much the same.

You can see the weekly levels right here so again in the past. We already did this. We just did the same thing, but a little bit ago right we broke down to the weekly and then we bounced back up couldn't get above. So then we went back into a short and then it got bought back up and it held above and actually let me zoom in here all right.

So then you can see it. Bounces up holds, we go long and it pulls back and holds market goes long again and then it actually breaks down market holds below sells off. Then we kind of double bottom. If you want to and then we get back above and then we hold and then we go long again right and let me zoom out some more and then eventually we go up and it hits resistance and it can't break out.

And then we go all the way back down to the weeklies pretty much and then we bounce and then we go below and the difference this time around is we're getting wicks all the way up to our levels, we're struggling to get back there, arguably not as Much buying, as we've seen here so since we are below we are down trending and everything. We're doing is a sell off of the trend down until we get back above and we hold like. You saw here back over, hold long right now we're under. So it's up to selling off of until we're up and holding over then we're long off of right, because this is a breakdown and you are retesting the breakdown so you're selling into that break right.

We broke you're, not chasing the break you're selling into it now and vice versa. If we break above then you broke out and you're pulling back to hold all right so um. For now, regarding the spy you can see, we were below support a little bit here. We got above it this time, we're below support again and we're selling off of it.

Now, if you think back to this moment, remember what did the market do? It went to this solid area, and then it went from there to that solid area. So if we don't manage to get back up above here, we go from this solid area to this solid area, and then we bounce all right um. That is well not totally true wait. Did i miss a level for you guys i might have, because i just deleted them.

Sorry, you sorry one. Second, so first we sell off and if we don't maintain this, that's the shift point so we'll go to here. Maybe struggle for the day and then tomorrow or something we can snap and then go to there. Okay, it's a possibility, all right, qqq's, all right so basis theories plays on this guy uh, it's pretty much the same thing.

So, let's start with the zoomed out chart here we'll do like a 30 day, 30 minute or whatnot, so you can see it's almost the same situation as the spy right. If we go back and look at the spy, is it not almost looking exactly the same? All right, so you zoom out a little bit right. You broke the white or whatever this trend, and you have a little thin, yellow right here. It's kind of in the middle of the next yellow and then you go to the cues.

Look at the cues. All right, so you kind of zoom out right. You just broke this level, you held it back there, you have a thin, so they're, basically the same all right. They just have a little bit of different nuances here and there.

So the way you would read this is, we came to the weekly we bounced the weekly. We could not sustain. We moved back to the weekly we broke below the weekly, we're below the weekly, so we're down trending and until we get back up and above we're, not up trending. So for now we're going to sell into everything into the weekly and anticipate the market breaks down to basically this 374 areas and then down to uh 376.03.

Okay. Now, if i zoom in on this chart a little bit, let's look at like a five day. One minute all right, looking at a five day, one minute this is the way it looks. So last night futures broke the weekly we just bounced back to the weekly here we could not get above markets or selling off of when the market's open.

I mean to me this looks like so: it's either just a snap down to 375, maybe not even hold 375, just a quick little up and then below um, but regardless it really doesn't matter. The idea is, if this falls to here and it gets below 373 um. Then you would look for, like you know, maybe a retest of that or sorry. That's 375..

You look like a retest of the 375 and then go short off of it. Then, targeting down to 366 97s um, that's that's a possible play, but the other thing too is the average. True range of the qs is what i think it's close to the spies too. It's 794.

So from here straight down to there would be a move of 12 28, so you'd be almost you'd, be kind you'd be like you'd, be less than double, but you know you'd be having a big move, but if we go from here down to here, that's 433. So that's totally within the realm of possibilities. So what would the move look like if we squeezed up that would be 672 and then down would be 440? That would still be over the average true range. So the idea is this: level's in play that level's in play this one's kind of outside of play.

But let's say the market does something an unexpected day and we truly break down and throw everybody off guard because it's omicron and lockdowns and everything that's happening. Then yeah, maybe a 1200 point day, is gon na happen. So regarding qqq, the way i see it is maybe we still got ta go back up to retest the breakdown. So if we do, you know, maybe we go long all the way up to 385 44s.

Something like that um, but those are the levels: 35 50s on the long side, uh, 374, 52 here and 367 down there all right guys. You have a good rest of your day.