What's going on guys welcome back to the channel, appreciate you guys tuning in we're gon na get ready to run to the queues and run through uh the spy here so um? To put it simply, i had assumed when we closed here on friday, the market was gon na grind up some more trying to get to here or here, but nonetheless it would increase at least a bit from the close into today's session, which we've done so. That has been completed so the way i see it is you just really don't expect that the market's going to go any higher for now until it surpasses this level so that green dotted line area you're not going to go higher anymore until you get above that, You can do dip, buys that's cool, but you really shouldn't expect any bullish movement until you actually go above that green line. Now the support level is the monthly here at 352, so, as this breaks, you're basically going to be watching the markets bearish under. So if markets are under, you look for bearish redirections off of if it's above you look for bullish holds off of so basically that's the line in the sand currently, and we want to stay above basically, 352 on the nasdaq okay.

So let's go pop over and look at the spino, so looking at the spy, the spy tells slightly different story and pretty much. That is that the s p has made it to its monthly resistance, cannot break its monthly resistance. Another reason why the market's going down so just from a very simple view. We already know this morning that we cannot see any really good breaking out bullish movement unless the spy is above this.

Otherwise it's all dip buys dip, longs dip longs unless you're over. That then, you'd be breaking up right. So even if the market went all the way down here and then you got long and it goes all the way up there - the market is not breaking out until it's up here. There could be a little pattern that breaks out on the day, but that's just a dip.

Buy that had a pattern that went up, but the true level to break out would always be there. So we know the markets are not getting really extremely bullish until it goes over this level. Four now last week it was, we know the markets aren't getting really bullish until it goes over this level. For now everything else is a dip buy.

So the same thing i'm telling you here is the same thing. I told you the other day. Everything below this level is a dip buy right. True breakout would be above this see what happens when you finally get, though you go on a run to the next level right, so you are not breaking out until you get over the spy monthly.

Otherwise, everything is a dip, long, dip, long or short, move down at least for now is the way it appears so areas of interest, obviously pre-market high level. Since that's the monthly area of interest previous breakout, which was down at 4, 35 29.. So that's a possible destination for the day: 435s area. 436S qqq i mean we already broke out a monthly.

So so there's i'm not going to get too confusing this morning. Basically, um yeah, i mean q's got up and above some levels, so that's cool, and so i guess in the immediate, if you want to be bullish, you have to see the market saying over 352., i'm not going to really bank. On that myself. I kind of feel like we're going to try and slide through that 352 myself, but either way it's pretty straightforward, i'll, be looking for entries off long-term statistical deviations.

Um! That's that's pretty much just it. You know looking for things like this, like a market to break over one pull back, adlong, okay! Well, the market just broke over one. It pulled back people added long and now it's up so that trades gone. So now it's pulling back to it.

I could add long here, but i know that we broke up, and that was the retest of the breakout and now we're fading down to with more selling action. So it's not this type of setup anymore. It's not this type of setup anymore. It'd actually be more likely to break this time.

So now, i'm more on the side of all right, i'll, just kind of chill out watch it do what it wants to do. Maybe we actually break down pull back up retest and then we go short or we do actually get over. Markets are bullish, so basically i'm waiting for some movement now we've had a lot of movement. There's been a lot of good setups and now we're right now.

In the process, i believe of somebody else's potential move, so i want to see what they're trying to do so for me right now, pretty much just kind of neutral on the market in a way, um. Probably a good idea to take a look at some longer term charts here, so you guys get some perspective all right, so um we're at resistance. Okay, we're not not at resistance um. So you know when i say that i mean when this move happened from here to here i mean that was the move right.

You guys might be coming in this market or someone who has just started trading within the past year. They're, like oh, this market can go higher or maybe this market can go lower, like totally could do whatever the hell it wants to do, but the reality is, i mean from the other day, there was a projected move in the market. It was from here to here so that projected move or a better way of saying it is anybody that was willing to participate within the auction market. The other couple days the projected movers from here to here so in order to get all of those people that were participating for this move to here to here you, you kind of needed to do something right because, like me, i'm like okay, do we want to Stay trading in this range, or are we going to take out the new range right? So that's what we're waiting on we're like! Okay! Do we want a new range or we're going to stay within range and that's all we're waiting for right now, um.

So when you take a step back and you're, looking at this four hour chart really all we did was run down to the negative four bounce back up to the negative three that was it or wait negative three to negative two minus. So this was a negative three. This is an egg two someone who's watching my channel for the first time is like what the is this guy saying. Yes, that's an egg three, that's neg, two um.

So, basically all you did was just straight to neck. Three bounce back to knight two. So until you clear an egg two you're still just gon na trade in between negt2 and x3, probably back and forth to the half div, that's about it, um! So yeah i mean i mean no cheers love! You!.