Guys, welcome back to the channel! Appreciate you guys tuning in so we're going to run through this pretty quickly. Don't have an extreme really large amount of time to spend on today's video. Pretty busy here, but ultimately let's take a look at what we have so here I believe was last. Friday we got a Buy Signal Okay, Market goes up and then ultimately what happens from yesterday into today and overnight.

Pretty much what happened is the market broke down the 10 SMA So I'm going to map off the 10 SMA here. Okay, and then this down here is a location of the 50 SMA which we're pretty much at right now. So the rules of the SMA system are that pretty much blew over red up Back below red would be bearish. All right.

so you can see here this is the 10 SMA But basically we don't sustain this area. Market ends up selling off overnight back to the 50 SMA So ultimately this is support right now and we're supposed to be more long biased into this 396 area um, 395.50 area for right now. Um, and then if at any point today, the 396-3955 actually breaks down with true selling pressure that you believe is legitimate, then you can pretty much say that we've gotten a sell signal. So ultimately, as long as the market is over the 50 SMA we do not kick start a new cell signal.

Okay, so pretty much we're going to be watching long bias on the Spy to start. Okay, we're going to be long biased on the spy for the day to start. and what I mean by that is anywhere from 396 to 3955. I would be more optimistic on looking for a little bit of a bounce.

Okay, now in the event we actually take out 3955 and a 396 area successfully right or in terms of trustworthy selling volume, then at that point we'll probably say Market is starting a new potential sell signal. All right, we still have to wait for the 10 SMA to get below the 50 SMA to dictate a new sell signal, but the earliest of sell signals could be that of a simple 50 SMA break, which would be right around 396.. Okay, um, the other things that we're paying attention to are obviously Anchor V webs. So if I were to run you guys through this, you know.

In short, um, you know this where these red lines were the old Bearish Trend And then obviously as you flip through it here, that's where the market moved. Bullish. Okay, this blue line here is the new Bullish Trend And you can see today we're now taking that out so we've dropped to it, try to hold pre-market Then it resulted in a breakdown just below it. Now the market is selling off to this red line.

Now the reason I'm expecting we go to this red line and probably bounce in that area or there's a good chance to do so is because this was the last cell signal on the market. So the market. is bearish. Okay then this was a Buy Signal and a move up.

So you could just say that anybody who's shorted here down into this move and then never covered their average share price is right around 39543. So a way to think of this would be if I were short on the stock or if we're short the spy from a couple days back last week. So if we got short here and here and here and here and here and all the way down and then we never covered and then we got squeezed and then we stuck through this whole up move and now it's coming back down. We've pretty much got back down to our average share price or close to our break.

Even so, if I was short, this whole move then got squeezed and now we're back here. I would be likely to take my short off because of my oh thank gosh right? So we could very well be coming into the break even cover point of the previous short sellers that got squeezed out of their move and they'll be willing to essentially close out right? and that can create a little pop sort of thing. Um, so we've taken out our 10 Smav which usually dictates we go to the 50 SMA which if you look at the chart where we at, we're at the 50 SMA. Okay, the 50 SMA is supposed to be our moving average support and as long as we're above that, we're still overall bullish.

You will also see next to the 50 SMA which is priced at like 395.90 right in that area. basically 396 just below. that would be the break even of the previous short Sellers as we were talking about before. so you know you have the 50 SMA you got the break even stop out, you know cover point of the previous short sellers, it went underwater.

All in that 396 395 area and the worst case scenario for me on this move to the downside would be 3935.. Now the reason I would say that the max downside of this whole thing is 393-53937 is because this green line down here would be the lower distribution of the recent bull move. So if you're just looking at this upswing, the blue is the average ownership price. So everyone that's been getting long on this move they're now underwater today.

Okay, they're most likely like Max Payne would be 3935.. So if for whatever reason the market doesn't hold into the red zone or the 50s of mag and then we sell off I would anticipate the solve could go down to about 39372. That would be the max downside. and then again, I would probably look for some sort of bouncing action there on the day.

Um so yeah. I mean I hope it's clear I hope it's not too confusing. You know you could simply just look at things based off supply and demand. You know, however you want to skin the cat, be my guest tons of different ways.

but uh, this is a way that obviously I've liked and kind of grown accustomed to. And this isn't the only thing you know that I look at right? You know we use statistics, right? These are statistics, right? That's how we get a lot of price targets. That's how we know where things are going to Pivot you know, close to the pennies. Um, because we're looking at statistics things like that.

Um, Fibonaccis, right? So you know what you see in these videos is only you know I wouldn't say it's only, but it's it's not the full picture. but this is what I believe to be a clean enough clean, enough simple enough easy to follow approach. That kind of gives you the understanding of, uh, majority of the moves that are taking place in the market from a volume perspective. Okay, so with that being said, everybody take care, have a great uh day and I'll catch on the next video.

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