What's going on guys welcome back to your pre-market uh morning, rundown video, so we're gon na go through the queues. We're gon na go to the spy everything that we typically do, um! So first i'm actually gon na pull over this chart because it's kind of kind of help maybe give you a better representation of what's going on. So this is uh. This is the spy right now.

This is the four hour chart. So you can see. This is the four hour trend right there, so you'll understand why we bounced and went up overnight to where we went so again. That's where that four hour statistical trend is at so when we go look at where the spy is at you'll, see that i know basically overnight, you know all we really did was get above.

Our weekly trend go to our four hour break our four hour. Pull back potentially to retest the four hour, or maybe even the weekly, all right now, if we go over here and we look at the qqq's, qqqs are a little different, so let me bring that chart up. So we look at the qqq slightly different. You can see it's a very similar thing, though they're breaking up towards that four hour trend.

So if you kind of zoom out - and you look at the cues, all the cues really did was get up to their weekly and their monthly break out and trend up towards their six-month trend, which is 386., arguably falling short of that a little bit. But nonetheless, on the long side of the market today that was well. Let me rephrase that from this breakout here, that was always the target all right, so the market has pretty much successfully done its long move from last night to this morning. So, on the long side of the market today i think right now your first or highest probability, long achievable target would be 386, 40 or so 386 twenties right in that area.

If we could get through that, then we could discuss other price targets, but for the time being, um you know market pretty much filled its gap on the way back up. So at this point i think what we're going to do is really just look for the spy to pull back on the day, maybe back down to 458 or even back to 457.31 for a dip buy. So if i was to get long this market, i would much rather see the spy go into a dip, sell down to 458 16 sell down to 457.35 and wherever that brings the queue down to i'd, rather be buying that dip. So again we broke out here.

I would like to retest the breakout and go long, but we'll see if it happens now, if you look at say forward, slash es or if you look at the qqqs you'll see that we we broke out and retested all night right. So this is the actual futures market, so you'll see. Last night we went to the weekly we rejected. We got bought back up, we broke out the daily we ran to the weekly we broke.

The weekly ran to the sixth month. Had resistance at the sixth month pulled back to the breakout of the weekly held, the weekly bounce back to the sixth month successfully broke the six month. We ran off the sixth month, almost all the way up to a level that i don't currently have on the chart, but anyways then it pulls all the way back to the sixth month breaks. The sixth month pulls up reject six month back down to weekly reversal off weekly back to six months.

Reject six month break over six month run pull back to sixth month under six months tag weekly bounce back to six month over six month, pull back re-test hold six month run off six month now to the forward, slash enqueue, which is basically going to be uh. You know pretty pretty darn similar. So when you go and look at uh forward, slash nq the way you would read this is we broke over the weekly and the monthly pull back to monthly, pull back to monthly and we go running and then from there. Every single one of these pullbacks, these pullbacks and these pullbacks were all determined and bounces were all determined by the q chart.

So again, if you look, how would you been able to determine um? You know like, for example, this top and how are you going to be able or sorry how would you been able to figure out? You know, maybe this top was going to be there or that top was going to be there or potentially this pullback was here or this dip was going to get bought here, or this dip was going to get bought there, etc, etc. Because all of these dips in areas all of these spots come from again that trend that trend that turn there, you go et cetera, et cetera, et cetera. So all of these dips and tops that were put in on the spy created the dips and tops on the cues. Yet the dips in the tops and the cues had no specific trend levels that you'd be able to trade around.

So i was using the trend levels on the spy to gauge the direction on the cues last night, which you could actually all go and look at. If you go to my twitter page, i basically went with balls of the walls yesterday and everything so you'll basically see this was a cool one like right here, um last night ready so like this is what i was talking about. So this is the forward. Slash es hitting the six month resistance to the penny.

So what i was saying right here is all right: the es is coming up to resistance. This will cause the uh the enqueue to drop so spy coming to resistance. The qqq will drop if you're not looking at the resistance on the es, so you won't know a bump in the road may be coming for the forward, slash enqueue. So at the time this is what it looked like: okay, scroll up and you'll see that forward.

Slash es, which is this picture on the left, is running up to that six month. Resistance and you can see we're kind of forming wedge patterns in both the es and the forward. Slash nq, as we approach the known resistance on the six month for forward slash es, go up a little bit more. You will see that that candle tags almost to the well yeah tags to the penny resistance, then you'll see, let's see if the wedges fail again.

You're at resistance, so you could have been trying to trade long here. Maybe you were maybe you weren't be like. Oh, this is a bull flag and yeah. Maybe it's a bull flag, but nonetheless you are running directly into resistance.

So you probably shouldn't be trading up and out of this until you at least see the market clear that on the es, so let's see what happens, i say the wedge. Snap is starting, you can see, we have the rejection candle and this is starting to go down red you'll, see now we're falling out of the wedges falling out of the wedges, more etc, etc. And then that's what ends up happening so you'll see all said and done after you get the wedge break off the sixth month. You just fall back to the weekly right and then you'll see watch bounce action.

Now. Why? Because we fell to the weekly strong support, bounce, more bounce and uh, and then this was me saying you should watch the market on the kiki keto 386.44, which is also this four hour. Statistical trend. Uh you will see, and enough with that you'll see that if we go to the qqq 386.44 is right there.

So the high of the market this morning was 385.53, so we're off of by about 90 cents in terms of where this market could go to overnight and or where it would go to today. So, just by looking at that long-term statistical trend, we're able to gauge a projection as to where and yeah where the markets could probably be around or at by today so uh with. That being said, i guess i haven't really touched too much on the market, so yeah, let's go back so first thing we're watching pull back down in these areas. If the markets can't sustain here, then we're just going to go back.

Bearish um the long target on the market since yesterday was always 386.44. So i'm not really that long bias anymore right, because my projection was that we would go to 386 44 on the qs. We've almost done that so, unless we're actually breaking that out and holding above there's no long play for me, there can be a long play to it, which arguably i don't really think i'm going to chase. Maybe i will i don't know.

Sometimes i do it um, but yeah. We could see a long move on the cues to 386. You know 20s or whatever, but there's no bigger, ripping breaking out move until you get over that, and then you start to sustain above that just like you saw here right. So you see in the uh just yesterday how the market broke over this teal line pulled back, held it pulled back held, and then we ran, so that was a break out in holding above so same scenario.

Here today, same rules apply break out hold. Above now. We can look longer if we break out, we get there can't hold above then we're going to look short if we don't even get there we're going to look short down to maybe here this i to me almost seems like a guarantee that it goes to there, But anyways, that is today's watch list, so watch for a pullback for the spy down to the weeklies and and then just look for dip supports and if they can't maintain the weeklies and we start to fall back under then you would look short. But i think today is going to be yeah.

I think we just do the old little pullback shindig magoo for a little dippy dippy um. If anything, um so yep all right guys. You have a good one. Take care!.