Good morning, guys welcome back to your morning market rundown with that being said, let's get into today's video there's a lot of stuff. I want to discuss really quickly. Also, give you guys price targets on the market, so the first thing that i am going to do is i'm going to bring over this chart from the left. And what we're going to do is we're going to look at the long term chart on bitcoin we're going to look at the long term chart on the spy the long term chart on qqq apple, tesla, microsoft, facebook all of those stocks, then we're going to run Back to qqq and spy give the price targets for the day and send you on your way.

You ready all right. So the first thing we're going to do is we're going to look at bitcoin and we actually know first thing: we're going to do is we're going to look at apple aapl. The reason we're going to do that is because we're going to look at a 20-year weekly chart, okay, the 20-year weekly chart - will show you that apple right now is at plus three deviations if you're first here uh first time to the channel, just know that when Something is trading at plus or deviations; it basically means it's gon na sell off. Typically, so with that being said, apple is at plus three deviations.

The reason i'm showing you this is because this is the first time in my life that i've been able to see a lot of equities trading at a 20-year weekly plus three deviation zone. Here's the deal, i have no clue if 20-year weekly charts, even like matter to be watching or even important, to look at i'm sure they have some sort of significance, but how much significance? Well, i didn't know how much significance until i saw this asset class touch. It so the only asset class i've ever been able to see respond to a 20-year weekly chart at plus three deviations was bitcoin and the last time that bitcoin on the 20-year weekly chart was touching. The blue line was when it was at this price and then this happened, and then this happened and now we're going back down.

But regardless of going up and going down now the first time we reached the plus three deviation price on bitcoin on the 20-year weekly chart was back then, and we had a big sell-off. Okay, so not to scare you! I don't. I don't know for sure, but i'm just again here to help you guys navigate markets. Last time i saw a asset class on a 20-year weekly chart hit the plus three deviation.

It was bitcoin and that's what ended up happening next, okay, so now? What do we have? Oh sorry, let me bring back this chart so now. What do we have all right? We have aapl, sorry apple, 20-year, weekly tesla, 20-year weekly microsoft, 20-year weekly costco. You know, lowe's uh, home depot, nvidia mu, almost not really amd um. The list can continue going on so, like i said before, i have only had the pleasure of analyzing one asset class that was performing so well that it reached the plus three deviation on a 20-year weekly chart, and that was bitcoin and bitcoin ended up crashing shortly.

After pulling back significantly, okay, so you're starting to see the markets get a little bit shaky, things are starting to head down a little bit. You got the fed talking about interest rate hikes this that the other tapering this that and the other i mean whatever. Okay, take a step back, put everything else aside and if you ask me when i look at most of these stocks, that we all love so much on a 20-year weekly chart, they are blown so far out of proportion to the upside that they look. Like penny stocks on a 20-year weekly chart and from him my training and work, i have never once made a lot of money buying a penny stock after it's already exploded through the freaking roof and looks like a hockey stick after buying those and holding i usually Or you usually get bagged, so i'm just asking myself if we're all to buy apple and tesla and right now and we put all of our life savings in right now.

What are the odds we walk away on top 10 years from now right or five years from now or three years from now? Are we going to have significantly bigger return or we're going to have a less return? And if you ask me, it makes absolutely zero sense to be buying equities up hand over fist and holding forever at these prices. So you know that's where my brain's at when i look at these charts. I go there's just no way so with that being said, let's go back and now, let's look at the stock chart or sorry the stock market, we're going to look at the queues and we're going to look at the spy and we're actually still going to look At them on this chart, sorry so now, let's go look at the spy, so spy 20-year weekly chart it's not at plus three deviations. Yet, okay, now you look at the qqq, i mean qqq, not at plus three deviations yet or maybe it never goes, but just a nonetheless, regardless of where these ones look right.

Remember that the qqq and the spy are just kind of reflections and movements based on all the other stocks that they track, which are apple and facebook and all these ones. So if most of all the stocks in the stock market, all trading up there at those really high multiples plus threes - and they are due for really big pullbacks - then you expect that that's probably just going to happen to the market. So with that being said, let's look at the spy and the qs now on a yearly time frame. So here is a one-year day time frame all right.

This is what it looks like. Typically, the queues have been trading kind of in this zone. We haven't broken outside the yellows okay, so let's go look at the four hour. Looking at the four hour right, the queues typically are trading within this yellow zone.

Okay, when the cues bounced here and they bounced here, they bounced near or actually no sorry yeah when they bounced here and they bounced here they were bouncing off of this plus one deviation all right not to confuse you, i'm probably making this more confusing. It needs to be, but nonetheless just know that we are breaching the plus four deviation mark today, all right, so we have broken that level which you can see. I just drew it right there, all right, so we've broken this level all right. So what are the expectations for the market going forward? What could you maybe expect to see? Well, here's the deal for sure you do not and will not expect continuous bullish movement on the market on the queues unless it gets over this trend line minimum.

Otherwise, we're going to go down okay, so if the queues minimum do not get back over this trendline industry that one which we tried to support on friday, if the markets don't get over this and start holding guarantee they're going down okay. So for one very simply, we need to gain back control of pretty much the price of like 380.. All right, if you don't, if you don't do that minimum the markets can't go higher. Okay in in the immediate all right so with the qs markets have broken to me significant trend here, which means i'm probably going to trade the markets down unless we get back over this price.

So i'm totally cool seeing the markets bounce up, trying to get back over failing and then going down totally cool with them, just dumping right out all right. So my target's on the downside for the day to start qqq, 373 371. A better way of saying it is so far today our highest probability level. We will touch.

Is this one here which we already did? You can see we traded to it bounced broke through it? Okay, so we did that one. The next closest levels on the market on the queues would be um, 386, 385 and 373 371.52. So we would expect that, whichever direction the market breaks away from this middle trend, we will then target to this price or that price. As for now, we have broken down so unless the market can actually get above and hold above, we will not consider to really trade too far on the upside.

We will most likely watch for anything to be. You know, traded downwards. Okay, now, when we go over to the spy, let's look at this long-term chart, so i look at the spy sorry different chart. Let's look at this one here on the left first, so we go to the spy 180-day four-hour chart.

This is the way it looks. Pretty much we had gone on the upside we broke down, the long term mean we've now rolled down. We don't really have a support trend until here which we haven't yet gotten to. So if you ask me where, in my opinion, i feel as if we're we're pretty much going to see the spy moving down to this level, all right.

So when we look at a one year day chart you will see that we don't really have any support until here based on this trend system. So i'm just going to draw these two lines for you guys, so we don't have anything until about you know there. All right now, i'm gon na go show it to you on the screen to the right, so those levels i just drew to they're all right here. You see where that dotted line came in and this trend line came in.

You see how they match up with these ones too. So just nonetheless, this area right here from there to here really is a potential support zone. So if i could just shade that all in so these are what i have mapped out for you in those grays and now i'm just highlighting you know that right there, those are six months. This yellow area basically represents six months, monthlies um.

As of now. It's just six months and monthlies: i don't see any weeklies there. There probably is one somewhere but anyways for right now. This is a congestion zone of six months and long term monthly trading levels.

So we just expect the spy is going to sell down to these levels. So today um, you know anyways yeah. Today we're going to be watching the spy bearish down into 463 to 461. That's my first downside target for this market on the spy, and if we start to break this, then things are just going to get bad all right.

Things are going to be getting really bad if the markets start going through these levels, all right, so how? What? What happens if the market starts going? You know through all of those levels right. So in the event the spy starts really taking out these levels. We don't have any support until about 453 to arguably 447 zone, so again, spy trades to here fails and snaps, maybe not necessarily today. Maybe it's tomorrow maybe takes a course of two days overnight, something, but once your monthly zone of 462 461 gives away, there's really nothing until 4, 53.

447 on the spy okay. So unless we go over to the cues and we find support on the qs that comes up - you know before this mark on the spy, then maybe we'll find support. So let's go look at the cues all right. So when we look at the queues, the queues have remember support right about 371 368, which arguably is basically the same price of the spy.

So as of now, i would probably continue watching the markets bearish with literally targets of like 371, the qs and targets of 450 through on the spy and uh, or wait wait yeah 453 on the spy and the only thing i would really like concern yourself with Before that is the support on the spy that, arguably, is at these monthly levels, which i don't even think holds. I think we go through that and things turn into an absolute show. If you ask me so yeah we're gon na be trading bearish um. Let's take a step back out on these charts because i went over a lot so looking at this long-term chart here on uh on the spy all we're talking about is markets went up to here, marcus pulled back, they did this.

It did that and that's right and now they're rolling down. They broke a significant level here and if they don't maintain, excuse me this trend line zone right here. We could see it sell down to here right and if we don't hold here, then dear lord help us more all right. I will see you guys on the next video everybody take care and have a great rest of your day.

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