Good morning guys welcome back to your morning market rundown, we're gon na look at the queues, we're gon na look at the spy, hopefully trying to make a little sense of the market. So yesterday morning, um the recommendation was to first watch the markets bearish to about this point here, arguably as far as this point, but nonetheless to watch this as sort of your first down target and then long bias zone. So you will see that we pretty much sold right into the bottom of it, that zone bounced a little and then we just faded through it. So at this point that told me the market was probably going to remain bearish for the day, so that was a big breakdown point.

So nonetheless, markets went bearish to start the day, didn't quite hold their long bias zone. I thought they could we snapped that unfortunately, and had lower, so we know for sure that the market really isn't bullish until it's back above that zone, so anything that's getting bought up. Here is just a counter trend, bounce to a degree until it gets over that price. Once we get back over the 400s, the market will move more bullishly.

So as of now, the markets are kind of in a little downtrend and it's all about figuring out where that downtrend might end or where the bearish traders may be trying to take the market. So yesterday recommendation watch markets bearish to here then look for a bounce. We do not bounce, we do not hold we break down so now we're kind of down trending a bit. So until we get over that price point, we're not really up trending too much so today i kind of thought it would be impressive to see the qs back to 398 or maybe over 398 we'll see.

But these are my first long targets back on the market. So, in the event, we have a really good bullish day. Markets reverse and go this way, that's going to be the long target to start the day or going into like tomorrow or the next days. The first down target to start today would be about 390..

So again say markets just roll over. We go through another bearish day. That would be my first down target for a bearish move, and at that point i might consider to watch the market more long bias. So down to here is where i'd be.

Looking for a bear, move, probably not going to look to be too much more bearish below that point. To start this day and in terms of long biased trades, i won't be looking to be anything more long, biased the market than about 400 to 398.. So for today, in relation to the market qqq long targets - 400 398 short targets - 390 59 right in that area. Okay, now we're going to be moving on over to um sorry we're going to move over the spine all right, so i think in order f.

Well, not necessarily, you will see yesterday the spy did not sell off nearly as hard as a q. So clearly the queues are having you know, much worse, air technology and some of those bigger cap stocks over there were not having such a good day. Anyways uh spy didn't have as bad of a day so the way i see it is, in the event we're going to see the queues down to that 390 price. So if the queues go into that short play, then we're just going to end up seeing the spy come down to about 476..

It's going to snap here and about the time that the spy gives away under 476 would probably be about the time that the queues are snapping down towards 390.. So today, in regards to any sort of bearish movement on the market, we would need to see the market below 476 and then maybe target down to 474. um. In the event, somehow it turned into a bigger pullback, our last down target for the spy would be 470..

So let's say all of this gives out. We would look down to 470 and then be long off 470 for now, um, so high probability trading range. For today, so spy, very, very high probability price points you're going to see throughout the day will either be this like 477, 80s, 476, 39 um, arguably 479, 12 and 474.83. Well, not necessarily so these are the high probability prices.

These would be less likely. This would be less likely, and this one down here would be even more less likely, though we did do this yesterday and the queue smash down to some of those targets, so um anyways. These are going to be. Generally speaking, your high probability prices you will, you will find the markets trading around today and then arguably uh 474 is to 479.

okay. So how am i going to watch the market? Well, part of me thinks we could maybe even get sort of an inside consolidation day on the spy, which i would really hope we don't because then it might just be a really garbage day and i have a doctor's appointment at like 9 45 this morning. So i probably won't even be trading but about how would i watch this market so there's two ways i could see some trades developing if, for whatever reason you think the market's going to go up, then you can just trade long to that price point, because it Will hit and if you think the markets are going to go down and you have the confidence, then you could trade short, because the market will probably hit that point. So those are two trades.

You could try to trade. The market outwards to those two targets: um, the more cautious conservative approach would be not trying to pick the direction of the market to go up or down, but wait for the market to go up or down and in the event you cross above. In this case, pretty much the pre-market high and start sustaining or pretty much, let me rephrase it since we have a level that maps out the pre-market high, you could probably watch sort of a pre-market high jump hold over for a long. That's a play, the other one would be instead of chasing the market down, trying to get it to go to here and then break, you could wait for it to break and then get short off of, like a retest on the pricing of 476.39 39 to try To break the market down towards 474, and that's really it if we're going to get a market that breaks away today from these two price points, we would then look for the market to go to here or for the market to go to here.

So you almost would be trading the second leg of the move or hoping for it right if we break up and then hold that would be the second leg or if we break down and hold below. That would be the second leg. So that's kind of what i think you could be looking for today. Worst case scenario would be the market just chops in between 476 39 47 50..

That would be that would be um, so look at where that candle just went right there right think about it. I mean like real, i mean literally right as we're on live right now you can see it goes where right and why and look at the cell look at it sell off that level now um that could have just been one of those ghostwood candles. That's probably what it was. I don't really think that was a true like legit legit candle, but i mean i mean you just saw it right there in real time.

I mean those levels are there: they were there yesterday. They were there at three hours ago right that level, this level right here it was here when the market opened up here right that level. It was here yesterday when the market was here. That level was there when it was here all right, then look at the wick.

You just got off of it pop up. I mean again: it's not random. You know those levels. These levels are watched by the computers.

So that's why i keep presenting them to you, because they're not just random levels right these these levels, generally speaking, are traded off of and to and from by a lot of computer systems. In my opinion, so that's the market for you guys today, everybody make sure to uh trade patient and have a good rest of your day.