What's going on? Guys, welcome back to the channel. Appreciate you guys tuning in. Uh I Know we haven't posted on the channel here in a couple days. Um, but the last time we posted we had mentioned um, the markets being bearish.

mainly thanks to CNBC alerting us that the market had given us a sell signal. Um, so cheers to CNBC Amazing people over there love the network. All right. So going forward, the market is still bearish.

All right. So when the market becomes bullish, it's going to be because this nine moving average crosses over this 50 moving average. Or in general, the price of the market gets over this 50 moving average. So ideally right there when the price gets over that, we would be bullish.

Trend Up. Essentially All right. That does not mean the market is going to run from here to there and then break that and keep going. It would be more likely to see the price of it Trend down until the price meets it and then shift up similar to like this where the price had went down and it's not like the price is going to go up to it.

break it and go. It's more likely that the 50 moving average over the course of some days will decrease in slow and then Trend down as price clears over and you can have and move up. So anyways, Market's still bearish. We're not bullish.

Okay, and ultimately we'll shift bullish and CNBC will tell us we are bullish when the market gets back over the 50 moving average. All right now, we're going to move over to trading View Trading View is going to give us some extra detail here. Um, but ultimately, uh, to put it simply or more simple, we're just going to do this and take this off all right. And we'll take that off.

So ultimately, the market is bearish below these two red lines all right and the 50 moving average. Like we said, so again, the trend does not change up until the price gets over 393.92 prior to 393 and and also 393.3 the 50 SMX which is actually more like 394. Anyways, we'll say 394.. So that's where the market can shift and become, uh, bullish again.

Not that you can't see bullish moves to that point. All right. But ultimately, Market's not bullish till we get over that. And that is also resistance for now.

Okay, so that's kind of like the line in the sand, resistance and price point we would expect and want the market to stay below to rate to maintain a bearish trend. Prior to that, 50 SMA you have the price zone of a 387 to 389, where ultimately, that's resistance. So today looks like a day where we might get a Long play a little bit of an oversold bounce day potentially. and if that does end up happening, we would look for the price to go back to 387 into 389, arguably filling the Gap from the other day.

Okay, and if that were to happen, we would then be bearish in the 387 to 389. So in the event we get a day where Market breaks upwards, we would look for a retest of this Zone and then to be bearish in this Zone Specifically looking for sell signals and patterns and maybe things like that and momentum indicators when we're at the price of 387 and when we're at the price of this 389, 388.50 Um, yeah. and now when the Market opens unless we shoot up, these can keep trickling down. So arguably these might adjust a little lower going into the open.

Um, similar to like what you saw and that's maybe not the best example, But oh, there we go. Like that, right? See how they're kind of flat overnight and then open? They kind of slide down a bit, so we might get a little bit of a decrease on these going into the open. so the 389s and three to Seven talking about might be slightly lower. Okay, so I mean that's ultimately it.

We're just. we're just ultimately bearish. Now, there's only one other thing that I'm kind of watching prior to this, which is just another where is my all right? There it is, which is. Um, excuse me, it's this so pretty much and then it'd be okay.

So that's the only other thing I'm really watching is this volume weighted average price right there. Let me take off this real quick. All right. So this one here.

this one acted as resistance late day um uh, last trading session on Friday So you know ultimately if the momentum of the market is really strong, uh to the downside, then this price should maintain right now what you're seeing pre-market here on uh, the Spy even the Es. If the market really is super bearish, then this price should maintain below and if it doesn't that will be the price point that we will most likely kind of kick start from and then push towards. you know, the 387's 3D 389 or probably 380 50. yeah, more like 387 388.50 probably So yeah.

I mean this is our current momentum downtrend level resistance and through this opens up the door for maybe um not maybe. But yeah we go over this. it opens up the door for move back to three, seven, three fifty and then in that air will look to be bearish and only above it holding with buying volume would be consider the the resistance to fail. So that's pretty much it.

still a bearish market popped Short Pop short levels are 387s, 388, 50s Uh, short-term momentum resistance right now is currently the pre-market High that's why that high was set in or that sell-off just before the end of the day Friday was put in one of them. Um, so we'll just uh, we'll rock and roll with that. All right guys, take care, have a great day.