What's going on guys welcome back to the channel so kind of excited to bring you today's morning, video, because the market has finally fallen to an area where i think some could be considering that dip by and that's why we've been seeing the market do what it's Doing so, i don't want to take up too much of your time just going to quickly pull over to charts. So this is how the spy looks like on a six month chart. So if you look at a six month, this is currently what that looks like. Whenever we get towards this negative one area, we typically bounce on the spy, as you can see, we reached that level slightly below yesterday market's starting to bounce.

So i think it's debatable or you can open up. You know for the argument that we might be seeing a little bit more of some bullish activity today, all right, so i'm going to give the case for both the down and the up. But if you ask me right looking at the spy, the spy has reversed these four hour candles. So arguably, we could be starting a little bit of an uptrend there and if we look at the qs, the qs had just hit what we would call a you know: half deviation on the downside and arguably starting to bounce.

So the question is really: does this continue selling down? Do we bounce? Do we not, and that's that's really what everyone's asking so i'm gon na i'm gon na run through this. So the way i see it is, you know if you're looking at the spy right now in this time frame, only one of two things can happen. You can either touch this level or you can touch that level based on this time frame right, because the belief is that the market will trade to these levels. So, if we're looking at this time frame, there's only two levels.

One is going to be down here at 369., the other one's up here at 380, 380. 20.. All right, but we know there's more levels than that because there's other time frames so anyways the way i see it is um. You know you have the queue: the queue fell to this level the other day and that's why we got that big bounce right and then we tried to hold above it the other day.

You know bounced and then we tried to hold above it yesterday and then we bounced and then we broke through it after hours and now we're bouncing back to it. So you know i would love to be long and i'm kind of feeling the long vibe right now, but the problem for me is we're still below these levels, so the way that i read the market would be we were holding support, holding support, failed support. Now we're retesting resistance, theoretically or we're trying to reclaim this level to see if it can become a support or stay a support. So, for now we're kind of in this like little waiting game in my opinion, debatably to see if it's going to turn into a decent long, there's two things i would like to see um well for one.

I would like to see the market back over these moving averages uh on. Excuse me. Let me redo this too. There yeah all right so on the 30 day 30 day, one minute, that's what i was wondering: okay, so 30 day, one minute they're over so yeah.

That's kind of dece but um yeah. Nonetheless, what i want to see here on the q's, i would like to see the markets up and through the 372 30s price, because, if they're above that, it tells me they're getting above these deviations in the slight supply zone. Potentially so for now, what we want to see on the long side is the queue is getting above 372.15, so this is legitimately currently a pre-market high play where you want to see the market above the pre-market, because the pre-market high is being set in by the Deviation - and you know we would rather not see the market below 370 81 on the downside. So the way that i would watch this market on the long side is, i would be willing to buy a dip off the 370 70 level of the qs.

To look for a dip long to hopefully break that and go higher on the day, could arguably be willing to do an intraday short off 372. If you're feeling the weakness to try to hit 370. so might do a short top to bottom, then do a long bottom to top trying to break out the top. And if this zone fails and for whatever reason we're going to go down, we could do a breakdown short below 370 on a retest at 370., there's a million different scenarios that can always play out.

You know so. Here's the deal um, what i'll probably be watching for is just to see if we can get above or below this zone. That would probably be the easiest way to trade that market, as opposed to trying to trade back and forth. So for now, probably the best way to watch the qs is just above the 370 224 or below the 370 70.

As you know, potential move points and uh. When you look at the spy, the spy is going to be set up a little differently um. So, let's bring up the cues over here on that uh, whatever chair that was and then one minute, so in the event the queues actually get through these levels and pop off right. You would track the spy up to 459.

So my long target on the market right now is spy 459 on a break of the cues 370 230.. That's kind of like my objective. I want to see this going through here and then we can maybe take and walk this spy market up to the 459 level. Okay.

Now, in the event that the market actually goes through 450 974 for an outrageously good day, then we would target up to maybe the 460 to 60. You know arguably best case scenario would be 379.. So, let's say markets actually do perform like somehow very amazing, best case scenario 379, but for now i'm trying to walk the spy up to about 459, arguably up to the four 62 63s. But what i'm also willing to do is you know, play bearish in the event that this zone on the q's gives out or if we get to or if we see big selling pressure on the spy as it nears a 459 or any of these prices.

So those are a couple ideas for you, guys, um. The other thing that i would be watching is say somehow this market actually remained weak and like dropped back over, i would not yeah. I wouldn't even care if the market rolled over if the market somehow rolled over you know we could also look for dip longs off of 455 62, which is pretty much where the gap starts right, see that all right, so it's not a coincidence. Why that level's there so bring it over.

So this is the the four hour level right. So there's a four hour which the four hour is also this dotted line there you see so that dotted line in this white line. That's a four hour level, so you can see we gapped over and hold it like right into there. So you know, even if the market somehow shook all the way back down tag that level i wouldn't be opposed to, that we can go dip long off that, so i think i've probably laid out a bunch of scenarios and things, so i think you guys are Equipped for the day, all right, you guys have a good one, and i will see you in the next video.