What's going on? guys, welcome back to the channel. Appreciate you guys tuning in. Uh, again. today's video won't be.

uh, won't be super long. So I'll just try to jump in, make quick and get you on your way. So with that being said, we'll take a look at this chart here. We'll take a look at yesterday's action.

So what happened yesterday Market Tanked. Okay, cool. So you know a couple things: statistical probabilities. We're always looking at that so it's not something we're not looking at.

So right in the beginning of the morning at Market open, we pretty much broke through our statistical probability level, which is at 399 13.. Why is that important? Because it is, um, many reasons. but ultimately it's it's a key level so you know you'll see once you snap through it. Market Just took off to the downside.

Okay So aside from that, um, the market gave a bearish cross couple days ago if this ever works or two days ago now. All right. So this was was that. Monday Tuesday Yeah so Monday we got a bearish signal a bearish cross so the recommendation would be bearish now I Didn't get a YouTube video out Monday suggesting this, but it was all on my Twitter page in real time.

I Pretty much said hey guys, you look for a bearish cross or bearish or not bullish et cetera, get short kind of thing. Um, so we did mention that you were bearish on Monday at this point. Uh, since then the Market's gotten demolished. So going into today um I was kind of thinking we might get and at least to start the morning or so.

and and maybe today at some point, a relief rally bounce. Um, we'll see though, it's always dangerous trying to catch the bottom um, of a downtrending market as opposed to waiting until you get a bullish cross and then dip buys are much easier. so that's kind of. The concept is that if you have a bullish cross, it's better to buy dips up right.

You'll have more success. and obviously if you get a bearish cross it'd be easier to sell the pop-up because it's bearish until it's not kind of deal. but ultimately we are pretty extended from the 50. SMA Um, so I was kind of thinking we might see some sort of Bounce today before selling off more.

Either way, it's all good. Doesn't really matter what happens, but um, you know this is pretty much uh, what? I'll be watching. Which is this chart all right? So these two lines these ones here and I'll just color code these to Yellow It'll make our life a little easier. Style Yellow.

All right. So a lot the the yellow lines are pretty much our strong resistance Point going down. Um, that's ultimately where our low risk short entry is on the market right now. Um, these blue lines You see, Those were, um, the volume weighted average trend after we sold off the major volume weighted average trend.

So the market goes into a bearish cross on Monday the events that led to the Bearish Cross or this and this blah blah blah. So these are anchored: volume, weight, average prices going down our key resistance Trend hence why yesterday's morning video I said you should be short into this and then the market gets smacked and then the short that comes off of these, the volume, weight, average price of that would be these Trends Okay, this trend does not get touched until after hours here, which we sell off again, creating a downward move off the V web which would then give us this short-term view app and now we're popping up. So bottom line, if you want to be less confusing, it would just be this: This is all it is. Okay, the yellow lines are a low risk entry for the short one.

they may not retrace there. they could retrace there. They could retrace here today, sell off, go back to them tomorrow, and sell off again. Um, ultimately, that's that's your low risk selling zone.

So today I was thinking we might see sort of a reversal. oversold bounce. Maybe takes is back up into prices 280 basically 280 71 to 282.34 somewhere in that area. Oh wait, I was looking at the NASDAQ I'm sorry I was looking at the NASDAQ on Instagram like that doesn't make sense.

Um, but but it does kind of make sense. So yeah, this is hold on one second. Um, yeah. So looking at this chart here right when you look upwards, we don't have any statistical probabilities here on the on the Spy so a lot of times what I'll do is I'll just double check the NASDAQ and go is there anything on this one and goes yeah there is.

You have one here and one here and that's arguably why the market tried to stop yesterday where it then blah blah blah. So ultimately 280 68 and 282 30, 23, 34 on the NASDAQ is pretty much where we're expecting. This bounce can go to Um, which would then ultimately take the Spy back up as well to pretty much you know, 394s, 395s or whatever. Okay, so that's pretty much what we're doing.

We're watching the markets bearish overall, but in the short term slightly bullish. Um, the lowest risk entry short is going to be in these yellow areas. Um, Levels that would come prior to the yellow levels would be V-waps of V-waps which are If this is a V-wap and the market chooses to hold this one sell off, there would be a V-wap off this one and let me make sure that is doing it correctly. Okay, there would be a view app off this view app which then creates who right there that's the level so you can see.

The market retraces here. And so after hours, we were testing the volume weighted average price of yesterday's Bearish Trend Essentially, And then if you were to do the same logic here and take a view app off this guy, well, it didn't do it like it was supposed to bring it up into there. Yeah, it's gonna now. If you take a V-wap off this move, you'll see that we've already surpassed it.

and that's where we've kind of shifted and done a little bit of an uptrend move, right? You can see that we were pretty much Market tags we gap down today. we sell lower, so lower, so lower. Retrace to the view app that was created from the previous View app. Essentially, it's a little off button I can make it closer if I want to do something like that.

Okay, and you'll pretty much see tag up over and that's ideally where the trend has started shifting or most momentum is picked up. So with that being said, it would go okay. Well, if this short-term view app doesn't work which it's not right now, where would this move, maybe go, we'd probably just look for it to go back to the initial view app that we came from which is up there. Um, so ultimately kind of watching for a little bit of a long bounce a day with maybe highs of 390 440 for right now then I'd be watching that short first.

and if that failed, then I would look for markets to go all the way back into 396.50 397.50 which they may not do, but if they did then that would be a good short location. So pretty much just watch bearish. Overall, low risk entries are going to be 396.50 to 398 in the event that shorter term volume weight, average price momentums uh, levels don't hold prior. All right guys, take care, have a good one.