What's going on guys welcome back to the channel, appreciate you guys tuning in with me this morning, we're going to go over the spy, the nasdaq, as we typically do so, the first kind of twitter post, i'm not making this morning - was actually calling for the market To go down to 3.99, that was because i at the time thought we're going to take out this first level and trend lower to some of these lower levels before trying to bounce well. In fact, we end up pretty much going to the first deviation level down here and bouncing so right. Now, that's the level that held a support, pre-market and now we're probably trending back out to the price of 408 to 409 or 410. Now, on the spy and part of the reason why i think we're going to be bouncing in that direction for the day a is because we gapped down b, because we ended up holding the first negative, three support level for the spy.

Secondly, the nasdaq got a mother candle this morning, which targets all the way back up to its negative two weekly level. So what it appears is like we're almost going for a retest of this most recent breakdown, if you may so, you can see the other day. We had come down bounced and the following day we broke through, but then went right back over, so not a true breakdown. Then we pulled back and we held it again and then we went under held below and then after hours we kind of faded away.

So i feel like we're almost going for a real market session retest, as opposed to an after hours, pre-market breakdown sort of move either way what i'm getting at. I think we're going to try to maybe trend back into that direction. Retest that negative two weekly breakdown before the market's going to give us much lower at this point and if we start to get over this level right, if we start to break above it, then we could actually be potentially reversing that trend for a larger move right. But we have to first kind of get through this negative two breakdown: okay, so for now uh more on the long side of the market looking forward to maybe go back up to as high as 309 today.

The first thing we're going to want to do is make sure that we get through this price point of 304 35.. So 304 35 should be the price point going into the open that we want to see strong volume going through the upside and maintaining above to then see the spy or the nasdaq uh getting higher. So going back looking at the spy here, uh, let's put it on a daily chart, so we look at a daily chart. I mean you can see actually take off.

A couple of these levels bring this back up on a four hour so yeah. If you look at the four hour, you can see that the market had tagged. The negative three deviation price point today and you know for watching my videos that the negative three blue lines tend to be low risk bounce spots. So this morning we end up tagging again and bouncing right.

We held the negative threes negative fours here here here here and here today, i kind of thought we were going to try to get to the lower lower bound version or lower bound spot of the negative. Three, so today to start, i thought we were going from this top blue line to the bottom, but we've held the first one, which means we could be looking at the counter trend: bounce off this bottom back to the most recent breakdown, which was right about there Before looking at, maybe another move lower per se, okay um. So with that being said that that's really today's video right, uh markets for the time being pre-market, are holding a good bounce. We might be going back to fill the gap and look at um tagging.

Very close to the location of the nasdaq mother candle, which is priced at a top of 309 26.. So that being said, you guys have a good day and thanks again for tuning in.