What's going on guys welcome back to the channel, appreciate you guys, tuning in gon na run you guys to the spy to the queue this morning. I hope you guys make some sense of it and then moving mosey on along alrighty, so um, i'm gon na start with um yeah anyways. This is a monthly level. We just broke that down on friday, uh overnight we gapped up to it market retested.

That level couldn't get through so then we sold down to the six month dailies weekly, so you will not see a big sell-off on the short side until you really go through 434.26 to 435, so you can still see a little more down move into those levels. Sure, but don't expect, like sheer panic on the day unless you actually were to go through those levels um. So there's that little sign of hope. I guess you could say um so max downside target i'll go for today on a short play in the event.

Markets are going through this price with extreme selling. Pressure would be like 428 to say, 427.50 okay markets end up holding support in this area off the six-month dailies and weeklies. Arguably we'll see the market reverse back to 441.76 today, um. So there's a couple ways that i think i could find myself participating in the auction market today, and so i think it's yeah.

I think i think, there's two ways. Maybe i would participate in the auction market. Maybe three um actually there's a lot but i'll either be short off 441.76 for a retest. So we broke down.

We gapped up here. So if we bounce back to here, arguably we might get a little retouch short off that and maybe, if the market continues that way, i won't really be long biased in terms of trend change until the market was above 441.76 and holding right. So i don't think that this overall down move could even be remotely close to reversing unless minimum it was over this and reversing right. So we won't really think trend reversal long until over 441.76 minimum, okay, otherwise we'll just treat everything up to 441.76 as a counter trend, long bounce waiting to still get sold into.

So how can i participate in today's auction market? In the event we somehow bounce back to here could go short off 441.76. If we can get through 441.76. Well can start adding dips off 441.76, but i'm very don't really think that one's gon na happen um. The next one would be looking for weakness through 434 435 for a bearish move.

Okay, max downside destination of the bearish move today for me would be 428.91 to 427.59. When we look at the queues, it'll tell us a little bit more so remember. We had levels on the spy that we needed to take out so the way i see it is as soon as the market on spy drops a little bit and we go through 434s. We should expect that the queues are going to be on their way down to about 346.45 345s 344.

So we have a six month daily and weekly here so before we'll even consider trying to do a reversal dip by on the day after a bearish move. We won't do that until the queues get into these prices, so we're kind of expecting that the spy is going to fall into the 435s, the 434s from there as long as the volume um suggests down. I imagine we'll then see the queues into 346. 45.

345's. 344S, and only if the queues are sliding with the extreme selling pressure through 346 344. Would you come close to getting a 330 853 on the day which at that point would put you nega 1000 points even more so for now we're just kind of watching cues down to like, say 345 344 areas a day and uh? Yes, i think um. I think that's probably good enough for today's video.

Alright, you guys have a good one.