What's going on guys welcome back to your morning market rundown, we're going to cover the cues we're going to cover the spy i'll, hopefully make a little bit of sense of the market, for you guys uh! So, let's get into it! First, we're going to start here with the cues, so let's do that all right! So looking at the cues! The reason i wanted to start here is because there's a little bit more detail than that of the spy. So i figured it'd make more sense to go over this, because i do believe that the queues are going to be a primary reason for markets continuing direction, one way or the other. So what i mean by that is, i think you should probably start by watching the qs more specifically than the spy, because i think it's the cues. We have to pay attention to more.

The reason i say that is, we have a monthly level right there. We have a monthly level right here. We have a six month level here, so when we think of where the price is for the queues, i mean it's right here: okay and then, when we think about all of its probabilities and all the things that it could possibly do this. That and the other exist all right here and here for now, which really just means there's a lot of levels nearby, the price of the qs.

They can help give us some guidance and potential direction off of to and from, whereas if we look at the spy right now, the spy just has levels here and here so that pretty much means either the market today on the spy is going to touch here Or it's going to sell down to here, generally speaking, but that move up in that move down will probably not happen until we get a breakaway or a breakout on the queues. So, as you can see really what's happening, is yesterday we sold off below the monthly below the monthly we bounced back, we held below the monthly we curled up. We tried to get above the monthly and go through the next monthly and we couldn't so then we fell back below now we're below now we're below so lower lows. Sorry lower highs some lower lows after breaking down the monthlies, pulling back to retest the monthlies, not breaking back over and sustaining over, so back down and under now rejecting the monthly rejecting the monthly.

So if this rejection and trend continues and we push off the monthly, we would then target down to the four hour or the six month, which is right here in the event that this happens, you will see the spy well, probably not all the way there, but What i mean is if the cues do what i just said, where they fall over and hit their six month and break their six month. At that point, the spy will be at this low. The q will be at its low and they'll basically be breaking down their previous low, which at that point we would then target to the next level down on the spy which in this case is about 464 to 462.50 to 460 140.. So this whole congestion area that would be our target down for the market today.

In the event it took out the lows: in the event it takes out the lows tomorrow: well, it's saturday or monday - that would still be our target in the case. It takes it out on tuesday. That would still be our target in case the market trades sideways, and then it breaks up that will still be our target, so it doesn't matter whether it's today, it's tomorrow, all these prices, they're always the target. So it's just a matter of when this market shifts does its move, we'll be looking for the market to go here or we would be looking for it to go there all right back to the queues.

So now we take a little bit of a diver deep into the queues. The way it sits is really there's. There's there's a couple outcomes. I see it's either we get back up over the monthly hold above the monthly, and we see a long play back to this monthly.

That's possible all right. The other one would be just market falls out goes the six month then goes down to this level right. So those are all the potential plays that i see right there now. What do i think is going to happen? I mean here's the deal when we look at the q chart here i'll bring over in a second.

When we look at this chart, i mean i don't really care for it too much i mean you can see, we went up slammed down. Great bounce came down great bounce. Try to go to all-time highs again failed rolled right back over the more times. You touch a certain level, a lot of times, the more likely it's to actually go through.

So i would have liked buying this bounce yesterday better if it was like this attempt right. Um or even arguably, this attempt, but now we're on a third attempt, so it's like: why do we keep going to that price point if we don't want to go through it as a way, i'm starting to feel so either way? I don't know i feel like those bears are starting to get a little strong but anyways. This is kind of how i'm watching the market, i'm not going to really expect we're getting a big sell-off until the market's below that trend line. So unless the market rolls down, gets below this trend line, we're not going to be big bearish, okay, so for now we could just be seeing moves down into here and bulls battling to fight and hold the market and if they look weak over the next couple Days and yeah we might snap out vice versa.

On the long side, this is the cues or sorry there's a spy on the long side. I won't be looking for anything more along the market than to this 391 price, so that trend right there so i'll be looking long bias max to that price, okay in which we could then roll down off that, and so there's there's like 16 million different outcomes And the more i keep talking the more i realize, i'm just basically saying: well, it could do this. You could do that. You could do this.

I could do that so we'll just zoom in here on the uh, the one minute five day, one minute get a good look at it. So pretty much. My expectations for today is the high probability targets for the day, one of which was this line. We already touched so you can check that off the box.

Number two would be this line, so i think all said and done by the end of the day we can see markets trade. At that point we can even see him break that point. We could see a bounce off that point, but that's what i'm trying to do try to get the markets down to here and if we get up and above this monthly, then i'll try to take the markets longer there. If we can't break this level, then i'll look to be short off there, um, but yeah.

I mean markets either here here, qqq all right, i'm going over to spy um looking at the spy again, we don't have any levels nearby. So we're really just looking at the queues to see if the queues take the upside targets out or if they take out the downside targets out and whatever way, that market moves or target that starts picking, then we're just going to look for spy back to there. Then, to here wait when i say 471 was my max, i think yeah. So no we'd only be looking to go to about there for now and then on the downside there so yeah, that's it um, all right guys.

Everybody take care, have a great yesterday and i'll see you in the next one.