Good morning guys! Welcome back to the channel! Appreciate you guys tuning in. So what we're going to do is kind of run through things pretty quickly. Yesterday we went over, uh, quite a bit so no need to touch on quite as much. Uh, But to hopefully make things simple.

Uh, here we go. This was our last bullish cross which occurred right there or sorry Bears cross bearish cross. So that was the bear signal sell signal in the market. Since then, the Market's dropping 413 down to 403 so you've had a 10 decrease in price on the S P since the last sell signal.

The 10 SMA which is the short-term trend, is located at 405.80 So let me put a price point there. My computer's moving slow. It's always slow with the amount of programs and run. It's quite annoying to be honest.

All right, All right, So 405, 80 405 84 is a short-term SMA which is going to dictate in the short term. a daycat bounce. Um, our 50 SMA is priced at about 409.32 so that means the market is counter Trend long bounce to that point only Trend up or positive momentum upside. Once, who are over that level? Um, okay, so if we were to pull back the chart and now look at, say a one minute chart on the Spy those two levels um, you know are going to come in right here and here.

Okay, so you can see after hours we broke over that red line so that is breaking over the 10 SMA which then puts the market into a short-term uptrend. The market does not become fully bullish unless it's over 409.39 So theoretically we are in a short-term uptrend counter Trend bounce over the 10 SMA Uh, arguably markets are trying to move to the 409 52 to back test the 50 SMA until the market is above and holding it is not going to be bullish. Okay, so if you're going to be a long bias today, you realize long bias a day going just in general, In the short term, you shouldn't be targeting anything higher than 409 until 409 is getting cleared and then you may arguably start to consider higher. Okay, uh, let's pull up trading view real quick.

Look at some make review apps. All right. So as yesterday we mentioned, the market had so markets sold down to the lower distribution level, which pretty much came into play right at about 406 406 20s. So after hours, um, two days ago we bounced it.

yesterday. pre-market we bounced it. Then we break through it, then we get above it. Then we break through it and sell down.

so arguably just a key level that we were watching over and over. And then you can see today we break back over and pretty much sustained just over that with The Gap and that pushes up to this red line. All right. there's a lot of lines on here I could clean it up for you, so it makes sense, all right.

So let's just do kind of a quick run through on things. So right now the market is going to be on a selling point resistance, right? So really quickly, let me take off all of these red squiggly lines so that it makes more sense as we continue. Okay, I'm going to change this to regular trading hours. Okay, um I'm going to take this off I mean I don't really need to.

All you need to know is that this green line is tracking the volume weighted average price of a previous Buy Signal So you can think of all the buying volume is concentrated right here. so there's a lot of buying volume that was concentrated right there. Hence when you break it, big sell-off Okay so we're going to put a vertical line here. So this vertical line alt the on trading view.

That's the sell signal right there. That's the sell signal. So when this occurs, new selling volume is coming into the market and then it becomes a matter of does the new selling volume entering the market become stronger than the old buying volume. And if so and it breaks you flush, get get it.

And then this. Gold Line down here would be the lower distribution max pain level of the green line. So essentially if the new sell signal in selling volume, participating into the market is strong enough to break out or break down the previous buying volume, we can then flush all the previous buying volume, and if we flush the previous buying volume, they usually are just going to sell themselves down to their Max Payne In this case, it would be 406.26 That's why we kind of went to that area, then kind of dilly-dally it around. Arguably okay, once we get a new sell signal from here, we're going to start anchoring V-waps to the tennisame break which would be here.

Um, and I'm going to take off the purple line I mean I don't really have to. It doesn't really, but I'm going to. but it doesn't matter. All right.

We're going to start anchoring V webs to the 10 SMA 30 minute candle break and we're going to be anchoring the webs to the 50 SMA 30 minute candle break which is here. and then that is arguably going to be our main Bearish V web Trend going down and it's valid. unless the 50 SMA starts to hold above so you can see we get the sell signal, we break back down the 50. we get over the 50 a little bit, but hold below and hold below.

So essentially until the market is over the 50. SMA It is bearish because of the sell signal cell signal Market Bearish until over 50. it kind of bumps its head on it and rolls over anyways. So that means that the Bearish volume weighted average price down are these red lines? Now, once the market gives way and breaks away from the volume weighted average price bearish trend.

We can also do V web continuation moves which would look like this okay which would give us a entry around 407.91 and if we change this to regular trading hour charts now and again, the reason we're using extended out or regular trading hours charts is to get the sell signal. and now when we move it over to regular trading hours where we get sorry, extended trading hours where we get down uh, you know, pre-market after hours data then we can arguably get a little more detail the way we like and we track this gap down. Move here off the View app and then you will see that we're right onto our continuation View app this morning. So right now the continuation momentum to be sold down is in this zone.

Now once you do that, the Market's best case scenario that I would Target would be back down to 403.85 doesn't even have to go that far. The concept is all right that we were to go back to regular trading hours. These two View apps on the top and this 50 SMA are your main selling resistance. If the market doesn't want to retrace all that way and continue, then we look for the continuation resistance which is now this View app and when gone over to Extended trading hours would be this view app.

Creating this as the continuation sell Zone this morning. That is why you've seen the market go right into this price point today and get sold down. That happens at 407.53 All right, if we were to look at a one minute chart here on the Spy where is the market Top 407 55 56 Okay, so anyways, 407.50 407 or 408 right now is the resistance for continuation down and if you look, it's already creating what could be slight inverse Head and Shoulders formation which is just basically yeah, this I'll just draw it out real quick. I should have just used this.

this is better. Um, where is it at Yeah, we're gonna use this. So again, this is a slight how to inverse on your shoulders formation. So you should almost think that if this continuation Zone holds resistance, that the market will try to form.

something similar to the left side of that chart would look like that. Okay, so if you're like oh, we're going to be short here, you shouldn't be going short to like, hopefully get at the market to break down. you should be going short to create the formation I'll do this. Okay, um, that would be kind of a go-to idea.

Now with that being said, that that's pretty much just it. So hope you guys enjoyed the video. Take care and uh, see you on tomorrow.