What's going on guys welcome back to the channel, so what we have for? It is a recording session of today's trading session, so we're gon na go through the spy, we're gon na go to the queues and kind of talk to you a little bit about the way that i look at and analyze the market now you'll see on the Right side of the screen, we have some options: data, don't even pay attention to that. Nothing. Interesting comes through on that today that i think should uh be worth mentioning. Now again, i only recorded two hours of today's trading session because i ended up running out of memory on my older computer and which i'm currently using.

So i had to delete some files today, so we can continue to record these going forward, but anyways. We only got two hours of today's session. What we're going to do is kind of walk you through the beginning, slash opening of today's market and show you how the market kind of trades in regards to all these lines and things you see on my screen. So, let's get into it now! The first thing i want to talk about are the charts here on the top, so you see on the upper left spy where this gray line is at and when you look at the cues on the right, you will see these levels are right here at 372..

Now here's the thing when the market opens these levels are going to recalculate and adjust now. The reason being is because these are weeklies and monthly levels, so they don't totally calibrate correctly until the market opens. So what you are seeing right now at 9, 10 in the morning so 20 minutes before market open again, 9 10 here same thing, cube same time: 20 minutes before market market open what you're seeing are monthly and weekly levels and they're just at the price points At which the market settled at yesterday, so when the market close, these monthlies and weeklies are calibrated to that level and then, when the market opens they're going to readjust and you'll see this so just pay attention and i'll kind of point it out. So we're going to fast forward here and you will see the market opens like right here - one second boom right there.

You see how the levels jump so 9 30 right there. Okay, so that's the market pre-market to market open levels recalibrating. So let's talk about that. So pre-market on the left side of the spy, which basically says resistance, is this gray line? Okay, that's also why you saw the market kind of break down there pre-market.

It was a level that us and some traders are paying attention to so as the markets got through that level or that price point we say: okay, we're breaking down a monthly level here, anyways market opens and that level readjusts and comes down onto the price. So, realistically, the way we would - and i would read this market for the spy opening up at market open now - is that the spy is opening up with resistance coming down onto it. And if we look at the q chart on the upper right, the way that i would view this as we have support on the spy down to like 372 right, so um we're just going to fast forward. So you guys can see how this plays out and then we'll go over it.

So, let's fast forward some, so you see, markets are selling down to the orange lines on the right and we will tag them and you'll see buyers start to come in right off. Those levels - okay, so, let's just fast forward all the way to the end, so you can see how much i recorded. So that's as far as i got, i don't even know how i don't even think i got two hours only got 47 minutes before this thing. You know kicked off so i'll get better at this.

I promise so anyways start from the getting here all right, so pre-market into market open. You will see levels readjust, spy resistance comes down, so spy is opening up and until it, unless they were to get above that gray line. We can't really consider this market's bullish on the immediate, and so you can't really be long unless you're going above the gray line on the spy or unless you're doing a dip buy off support, which in this case, looking at the q chart, we can determine some Support might be around that 372.40 price so fast forward. Again, you will see as soon as the price on the qs do get down to that first.

Yellow line you'll see the market bounces right ready boom. So this is very very common. Now i can't say it's always this simple um, but the way that i view the markets a lot of times is all of these levels that you're seeing on my chart their support, their resistances their targets. So you can see as soon as the market opens.

We basically snap right down to that level and then we get bought right back up. So it's not that it's a support, but at the same time it's also a destination, slash target that the market probably is going to try to go to so a lot of times. You know the way that i would start a market. You know is maybe watching a bearish to here and once you get here, you can maybe watch for a little bounce trade, something like that um and a lot of times.

That's kind of the way that i would gauge the market um, so anyways. We fast forward some fast forward. Some. We do eventually get this bounce in the market right there starting to take off on the qs, and so you end up seeing his markets bounce today.

Um, so that's all that i was able to capture so really quickly to run you guys through this um, when the market is trading into these levels. For the first time, you typically trade opposite a lot of times it's kind of confusing, but it's one of the easiest ways for me to explain it and what i mean is, as you can see, the market sold off overnight and into this level pre-market right. So, instead of trying to keep selling the market down when it got here, you would go long right. So, let's kind of go back one more time with this, so think about where that level is pre-market, so the market sells off to it and then, when it gets there it doesn't really break down.

It gets bought the other way, all right. That's kind of the same concept and then mark it open. We snap down, we run into it and then the market bounces away from it, and so that rule only applies when you feel comfortable that the market is really trying to break it. For the first time, and now that rule won't always hold up because again, you know say if this was like the absolute tippy-tippy top of a market and a market's rolling over, and it has a level just below the price and we roll over into it.

Yeah you could do like a little tiny smidge of a bounce and then just break down right, so it still does matter as to where you are at in an overall trend and things like that. But by having these levels on your chart, you can be less confused or at least have some sort of idea that the market might bounce here because you just know there's already a level there. So let's take a look at what the actual stock chart look. Today, oh and before we do that, i actually want to pull up discord really quickly.

So the reason i want to pull up discord is so you can see how i was planning on watching the market today. So, let's discuss this so today in and listen to the way that i'm saying it, which i didn't necessarily always talk like this. It took me a long time. I will be looking to call the markets back to 461 462 area on the spy and i will be looking to put the market back down off the 460 170 to 460 255 area after putting the market down off the 461 462 55.

I won't look to put the market down any further than the price of 327.. This is wrong, i meant to say 372.37, so let me take a step back. Basically, what i'm saying is, i would only be long, biased the market today on the spy as high as these prices, and then i would look to be bearish in those prices and then, when we flip bearish will only look to be bearish as low as the 372 37 price, as defined by the qqq. Lastly, if we get a full breakdown, we'll look to 455 as our first downside destination for the day on the spy.

So, more importantly, let's just talk about this, only looking to call the markets up to 461 462 and then we'll be looking to put them down off that price to a 372.37. Let's bring up a stock chart um really quickly, let's right here, okay, so we are going to go full screen on this one right here. So you see this price. 370.

230. 372. 37, again 372.39. So when we were talking in that that message earlier, i knew that this price could very well be a target that the market wanted to go to because it's already plotted.

So we were talking about you know being bearish the market we were saying. We will only try to put the market down to 370 230., so you'll see we put the market down there and we bounce we put the market down there and we bounce. We eventually break it and we go a little lower, but you can see the first couple times or go around. We put the market down to 3, 70.

2 30.. We don't break and then we put it back down to 370 230 and we don't break all right and then what happens when you do break 372. 30S. Let's take a look at the spy.

So when you do end up breaking 372 30, where does the spy go to 455? 36 is the low and we were targeting 454.93, so we're a little off on that one. But that's kind of that concept. If the qqq gives out below the 372 37 area fully, then it will track spy down to 455.93. Unfortunately, we were off by a little bit.

We only got down to 455.27. Now. Let me discuss for you guys why i was talking about um, calling the market up to 461 to 462 area and putting it down off the 460 174 6255 area, so um when we look at the spy and actually, let's look at uh the video, because that Will be a better representation where's the video at all right all right, so we go back pre-market, look at what the prices are. Okay, so we go pre-market.

The spy 460 170.. All right wasn't that what i said: um 461.70 to 462.. So at the time a pre-market, okay, um excuse me - let me get out of this. So at the time pre-market, my monthly level is at 461.77, and these prices here are probably close like 462 right.

So at the time i knew that all of my monthly levels were right there. So if at market open, they did not change and did not update, then that would be my upside target on the long side, no more and when we get there, i would expect it to be resistance. Remember we said when something gets to a level for the first time trade opposite. So when you see the market go down out of the gates, it hits the yellow lines you trade opposite.

So, in the event we would have jumped up straight out of the gates say that that gray line didn't move right. Then we jumped up out of the gates and ran directly into it. Then i would not be trying to trade up. I would be trading down right, but that didn't happen.

We just opened up went down, so people chased the market down out of the gates and then we trade, long and bounce them up. Okay, so that's kind of concept there um, and so the reason that i was saying we'll put the markets down off the 4 61 74 462 is because i kind of thought you know. Maybe the monthlies were going to be here and stay here. So if the market opened - and we run up into there - okay, maybe markets go long start of the day, try to go bull and then we slam them down short and we'll put the market back down to 372.37.

So that was the goal was watch the markets. Bearish here see if we could roll over the spy and roll over the queues to get them down to the 372 37 which, as you can see, ends up in wherever we're at being the uh the target there. So that was given at 7 30 right so think about that at 7, 30 in the morning, a couple hours before the market um. Where is that there? It is a couple couple hours before the market opens.

You know i'm already considering all right. Let's go! 372. 37, you know mark it open there. It is boom, 372, 37 or whatever, eventually so, um.

I hope that helps. I will try to continue doing some more of these in the future, um probably going to implement, maybe like apples and facebooks and a couple other ones. So hope that helps and i'll see you guys the next video.