What's going on guys, welcome back to the channel appreciate you guys tuning in so we have fomc coming up. Um yesterday was another down day, followed with a gap down today. I expect we're going to see some interesting movement with that being said, we got fomc tomorrow. I don't think today is going to be all that bearish.

We have two really big gaps in the chart. That arguably need to be filled. You have fomc coming up, so i don't think necessarily we're going to see big down days today. I think you either see some sort of slower grindy day, arguably a long day back to the 380 38..

So today i think is going to be sort of a defensive hold day that doesn't get too bullish and also doesn't get very bearish. So i'm kind of thinking we see markets back to 380 38 today to test that and arguably, if we can get through these highs right here, the 381 40, then that opens up the discussion and the possible move to 384.39 384.39 to me is the max long. Today, i don't see the market getting over, that. I don't see us filling that gap today, myself if it happens awesome, but in terms of being long biased.

This would be my first long target. This would be second, and that would be third, so um yeah. This is number one right there. This would be number two 38140, and that would be number three and number three can only happen if these two are taken out with aggressive buying.

So for now anything long bias for me will be playing up to that point and if at any point that doesn't work - and we start to fail - then of course through these lows and selling off - would just be back to 373.06 etc. But for right now i'm probably going to be watching uh the markets for more of a little bit of a push on the upside. Like i said, if that doesn't work, and we do continue trending down, then it would just be break below these lows. Markets actually sells off.

You would then target to 373.06, which is the previous low a day from yesterday and then arguably aggressive selling pressure through that we would just look down at 370. 44. Arguably, 369.85, okay, so one other thing i want to do is look at the nasdaq really quickly. Uh see what's going on here, all right, so yeah um, the nasdaq gives us.

You know part of the reason why we bottomed yesterday at low a day we hit the negative two and we hit the negative three here so yeah i mean the nasdaq isn't really providing too much for me uh today. I don't think because yeah yeah so again, probably going to be watching for a small long play up to 380 40. see if we can get a retest of that area before continuing to be bearish. So to me right now this is kind of the short term resistance and supply area that we might look to long to and then sell into for the time being.

So that's the analysis, hope you guys like it and i'll catch you guys on the next one.