What's going on guys, welcome back to the channel, appreciate you guys tuning in with me today and happy monday, all right, so what we have is the s p 500 with friday's trading action did create a short-term uptrend with the moving average cross so going into today. What we're first going to be doing is kind of just trying to get a feel for the market to see in the event, is this uptrend gon na stay intact, or do we end up just rolling back down and resuming the downtrend now a way to explain What sort of price movement you can get when you get? One of these crosses is like this. You can see that the blue crosses below the red and we went into a one two, three four five day down move. We got the cross on friday to the upside, so arguably could start up trending uh in the short term from here for a little bit of a bounce move.

So what we know is the only way we're really going to get any long bias. Action today alone is if the market can get over 401.63 on the spy and if the market can get over the price of 302.6 or 302.76 on the nasdaq. So for right now, there's resistance. That's preventing a big bullish, move to break out pre-market and that's the resistance on the nasdaq and the spy which comes in at 401, 63 for the spy and 302.76 for the nasdaq okay.

So the only long play you have is either a counter trend. Bounce potentially off the prices of 398.42, if we end up selling off today, you'd have a bounce play, potentially nasdaq 295.30 or the other long play is going to be. The um is going to be if the market can get over and maintain over the price of 302.76. Okay, so that's pretty much it i mean if, if we're looking at long trades, because we have that cross, the only way the markets are really going to trend out.

Arguably, today, going into tomorrow is the market has to get over the negative two weekly on the nasdaq, which is 302.76 and sustain, above with higher lows that way we can break up without that we're probably just going to roll back down. So what i'm watching for today is does the spy get over the price of pretty much 402 in sustain? Does the price on the nasdaq get over the price of 302 and sustain okay that can potentially lead to the long play um? If we cannot get over that price and pretty much start to trade bearish, then we'll just be targeting downwards to the next statistical probability which at this point is 398.42 and the next one down on the nasdaq is all the way at 295.30. So we'll see what happens, but we did get a slight bullish cross now. The other thing i want to point out is: if you look at the spy right at the price of 404 35, you have the nine-day moving average.

So this is the long-term nine-day moving average, also preventing the market from going higher, potentially some resistance. There same thing with the nasdaq. If you look at the nasdaq, the nasdaq also has its nine-day moving average like right at uh, 304, 63.. So couple reasons for the market not going higher.

We have some moving average resistance. We have statistical probability, resistance, that computerized algorithms trade off of um and that that's pretty much it so. The long targets in the event we get a big break would just be back to the negative two weekly on the spy, which is right into this 409 410 price, which would also be filling the upper wick. We got from uh the other day.

This is a mother candle that popped at 411. We have yet to tag that price, so pretty much. What it means is if the market can get through all of this resistance, which is pretty much just the six months trend right there at four 163. That is terrible yeah.

If the market can get through all this, then it opens up the door for a push back to the 411s for 12.. Okay um. So that's really today's analysis, nothing too crazy. Um again we did get that bullish cross.

So we'll see if this can lead to the market moving higher whenever i get one of these bulge crosses. The first thing i do is be optimistic on a long and look for long bias, setups as opposed to bearish setups and in the event all the bulls stuff starts. Failing doesn't work really well. Market starts to move bearish, and then we get the cross back below that line.

Then i would start being looking to bearish again that's kind of how it works. So with that being said, i'll catch, you guys on the next video everybody take care and have a great rest of your day.