Everybody welcome back to the channel in today's video we're going to discuss whether this market has bottomed or not we're going to assess the situation thoroughly. I'm also going to be answering some of you guys. Questions like we always do here on this channel all right now before we begin again, do not forget to annihilate the like button on your way in, and also don't forget to click on the subscribe button. That way, you don't miss out on these uploads right, so so, let's begin right off the bat um the spy.

This fight did something very, very weird. Last night it did. I did not see this thing coming um after the the meeting happened, everything immediately collapsed. It definitely did and then after hours it just kept collapsing all the way until the night and then now we just have some random buyers coming in here all right and somebody.

Somebody could argue that there may be a triple bottom over here all right. So we have a left right here, a head and then the right shoulder and now the only thing that i'm looking for is this: can we get above this line right now again? This is the way the chart is looking right now. So what i think, what i think is going to happen with this market again do not be fully bullish, that i have a ridiculous bias towards one side. I think that is going to try to be very convincing.

The market is about to open in about 12 minutes, so throughout the entire day, there may be some bullishness right here. It might move up all the way up towards 4 44 46 and then in the last hour we tank again. That's what i think, i'm not i'm not fully convinced yet. I think this is a way to trap again all right.

I think this is a fake rally. Let's check out, let's check out the nasdaq, shall we, let's see if the nasdaq looks any any different yeah, the nasdaq is still the nasdaq is still ugly. This is not it's not clean in either direction. This right here is the thing that kind of like obliterated.

This structure, all together and right now it's just trapping and i think it's going to do the same thing again. I think that we're going to see, i think that we're going to see a um a lower high, i kind of clean it out to just make sure that everything is just clean, yeah, i'm not convinced yet people, i'm definitely i'm definitely not convinced that this is The bottom so stay stay sharp out there all right and be very, very patient today be very, very patient. Again massive volume, massive move. You want to see this thing close, really really strong.

All the way up here at like 14 um at 14, 000 and 800. In this region, you just wanted to close there in order to have some type of conviction that we could see a bigger bounce all right now, whether that bigger bounce is like a bigger like a um, a slow and steady dead gap balance before we roll over Later on, that's for another thing: okay, but i just i'm just here to warn you guys about the possibilities and about what i think could happen today and i drew that on the spy chart. Now, let's talk about, let's talk about stock. That y'all should keep on your watches.

For today, um it looks decent. It looks. It looks decent, it's qualcomm right now, qualcomm that one is that one, the structure is still there. I still like the way it looks.

I still do right now with the way the market is going with the way the market is playing all of these games. It's very choppy, it's very like it's in this area right there, it's very annoying for anybody who showed it here right and i think that it's going to keep going as long as the market stays annoying. This thing is going to keep going. It's going to just drop over here near the top right here before before i think before we start dropping back down.

I think all right there may be even like a uh. There may be a standing wedge on here before we collapse, so watch watch qualcomm for a drop also on the daily time frame. The the head and shoulders is almost there like. It looks like it wants to form a headed shoulders.

If you see what i mean, we got the left shoulder, we got the head right there and then the right shoulder is what we're seeing at the moment um now. Somebody could argue that we have seen this with dollar tree in dollar tree being annoying, i know, is the market. Sometimes the market can do that. All right, um, some some some plays some patterns perform better than others.

Depending on how clean the structures are that that that detects, how well it will perform right and also the market conditions, is another thing that you want to consider so watch watch qualcomm for that move, be very, very patient, be very selective. Again, the market will play games today, not gon na, like it nobody likes these games like yesterday bears were super super happy now bears are bad right and then probably afternoon, bowls are gon na, be super bad and then bears are gon na be mad again. So so that's pretty much what we're dealing with until that until that stops until we get a lot of volume towards one side, do not have a bias. If you don't even want to trade today, you don't have to trade.

Today, you can just chill out and do nothing you don't have to trade today, all right, you don't have to it's, not an obligation to take any trade at all in this terrible market. If nothing is clinging to you, you don't have to make any move whatsoever. Okay, like so just just just just take that as uh as uh as a non-financial advice. Okay, so that's that's my thoughts on qualcomm and on the overall markets.

Now, let's talk about, let's talk about another one that you should keep on your watch list. Let's see baba yeah, all right and baba looked baba looks really really good. I saw this one yesterday and i shared it with everybody in the discord when it was at like 116 yeah. So i saw this structure right here and then i shared it with everybody.

Over here and it's been tanking ever since, and i think that it may go lower, i think that it may go lower now. Could there be another config with the market? Maybe again, the market is the market, but i think it's going to go to 110. Maybe even 108, all right, that's my very honest thoughts on this talking. That is the end of the video again, do not forget to annihilate the like button for the youtube algorithm as always helps channel a lot.

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um any post market analysis, videos which are released every single day in the afternoon. If you'd like to be part of a private discord community, you can find that as the first link in the description of the video below. If you are not following social media already, you can find me at paul and goomba in a pet analogy lab on instagram and on twitter. And lastly, if all of this is brand new to you, if you're interested in getting started in the stock market, i'll leave some very basic, step-by-step directions.

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