Good morning, ladies and gentlemen, everybody welcome back to your morning, video. So, as we have seen this morning with the market, we are having a pretty decent bounce, pretty nice recovery off this downward move. With that being said, if you look at spy here on my chart, you can see we have a price point at 4. 20 53.

for 2053 may very well end up being the pre-market high today, because there's a statistical level presented there as to create resistance, and that would be a reasoning for creating a top which then, when you look at market open, may be right. Around 4. 20, 53, so anyways. When we think about this more in depth, we know that there is no longer a bullish move on the market until the spy is getting over the price of 4 20 53.

With acceptance. What is acceptance? Acceptance means we blow through it and sustain above it so standing above it could be go above. It, trade sideways into a flag pattern, go above, it keep going up, go above it pull back and hold generally most breakouts want to retest the breakout so for 2053. Would end up being a breakout on the day and if you pull back into that and sustain with good buying volume, you may at that point be able to consider regaining some acceptance above that level.

But for now that is the most or that is max the long you should have been considering for this morning as that bull move started to pick up when you look at the nasdaq you'll see that the nasdaq does not have any statistical probability here. As for the time being, based on the time frame, we are looking at so we know that the nasdaq is not going to go any higher until the spy clears for 2053.. Now, in the event, this market does have a super nice bullish, move, rip or magoo for the day. We know that the average true range on the nasdaq and the spy is anywhere from nine to ten dollars so on a best case scenario day for the nasdaq.

Let's say it goes up: nine bucks, eight bucks. You would end up hitting this top level here. This top deviation, so this 320 11 is in play for the nasdaq, because that's only um, six, seven well, seven bucks to the upside, where the average true range has been anywhere from nine to eleven. So, on a best-case scenario day, you could very well see prices of three twenty eight eleven, but that cannot happen minimum until you get the spy over four twenty fifty 53.

I think that's what it was yep all right now we're going to dive into a 20-day. One-Minute chart from here we're going to get more levels, get a little more granular for those that really want to see it all right pop on over here. Okay, so now, when we come into this view, you can see that the nasdaq does have a statistical resistance and probability level here at 3, 21. 89, 90, and you can see the spy still has that one.

There. 4. 20. 53.

1 to 4. 22. 13. 104.

24 74.. Each one of these levels going up is a resistance all right. Yesterday we tried to hold and then we broke through. So anybody trying to dip by these yesterday got stopped out so going up into this area.

Typically you'd be met with some sort of selling activity. Okay, so these are to be treated as pullbacks on the upside and resistance points on the upside, and only when you get above 420 53 holding pullbacks with acceptance. Do you consider maybe you're going up to the 422 424 74s um? And really that's i mean that's pretty much. It there's really not a whole much more to talk about so the other.

I guess there is one more thing to talk about, and that would be only level that the nasdaq has for now is right here: okay, where'd! It go there, we go. That's the only level nasdaq has once it clears that red line all right now. On the other hand, the spy has couple up until this point for 24 74.. So there's just some resistance going up that you would be met with that.

Can also hinder the directional move on the nasdaq. You have rates coming up uh wednesday, everyone's expecting a 0.2 for 0.25 percent basis, point hike, um, nothing too surprising, um, probably the right path, maybe even more uh but anyways. That's that's pretty much. It um.

I don't really think there's any much more to say, uh trend. Overall trend is still down, so everything should be treated as a long counter trend bounce that's going to eventually get sold into um. So until that is not the thing, that's the thing all right! Everything is downtrend with counter trend bounce that gets sold into until the markets are getting above specific levels and holding higher lows and changing and really fighting that norm, which is downtrend counter trend, bound cell action, same story, all right, you guys have a good day.