Good morning everybody welcome back to your morning market rundown, so uh anyways, pretty crazy day. Yesterday, markets down a little bit today, um, so you know the way i see it is um. I feel like everyone's gon na try to jump on the bandwagon here and short. This puppy down um.

What do you know that was one of my anticipated moves right there you see that trend line. I was literally getting ready to tell you that i pretty much see the markets on the queues either. Is that a true candle, though i mean like oh, it's, just a ghost wick yeah, so that means markets are probably down. Okay, sorry, so um yeah i mean you can see how that candle just spiked right up in our dotted white line.

That's not a coincidence! Guys: okay, that's not a coincidence! That level was there yesterday. It was there four hours ago, five hours ago, six hours ago, seven hours ago, right now, it's right there and you think that that random pop ghostwick candle is random. No okay. So, in my opinion, there is really one of two things are going to happen with the market: either the markets on the qs go down break 382 and the markets break down some okay, once or if that happens, you then look at the cues and use this Q 457 as your next target, because, again, if the queues break, this dotted big white line, they're going to be below that low.

The qs include a lot of your tech stocks. Tech stocks are your biggest market cap stocks biggest market cap stocks are also included in the spy. So there you go so cues break 380 areas. Here.

We would assume that the spy is going to be below these lows too, and then we'll use the spies 457 down target next. Arguably, we would also be using the q 376 dotted target here because they're, probably pretty close in comparison like again, if the cues take out this level and start to fall down, they would target this and the spy would target this. So it's not like there isn't anything you can see on the qs as a down target once that 380 were to give okay, so you could probably go either or use that dotted in the middle or you could look at a spy for me. I'll probably be looking at the spot all right.

If it's a truly big epic breakdown in slide, then you would see the cues come to here. They would not sustain and then we'd run to here. Maybe that would even happen like overnight, but again the way that i visualize it is it's a cycle, it's not as to how long it's going to take to happen, but it's the fact that it probably would happen. So if we do go below here with a lot of selling, it is probable that we would go to here and if we cannot maintain this and our downtrend continues, then it's probable.

We would go here now once we get to here. That to me is a desirable level to potentially do a reversal long, so i would say when the market gets here, it's probable. We would try to bounce it and if the bounce works, then it's very probable. We would then trend back to this level to see if we could reverse the downtrend fully okay.

So the way it sits right now is the market you're not really bullish, cues. Unless you were back over this line and like flagging and holding just like, i showed you a second ago ready so remember how i'm like yeah. We could go, maybe all the way down here and then we bounce right and then it would be nice to see it back over here and that would be reversing the uptrend right. So same thing right, you just came and you just tried to hold and you broke down basically to the next level.

Not quite so. The only way you're bullish is if this held and you came up and held above because then that would be like an inverse head and shoulders or if you just went over you know you'd be up trending, so another good way of explaining that would be looking At yesterday's trading session on, like a five day, five minute, all right spy, this level long term weekly same here with the cues long term weekly. That's why a big slide happened there once you got through there, it's just a weekly trend, big level, uh that it couldn't maintain, and then you look down where's the next level right there so think about it. Right from the high to the low high to lows we go down, you will see that the market does not bounce until we slide through the weekly and then when it balances.

What does it do it bounces back to the weekly to try to get back above to start an uptrend? It can't so then down then look at from here to here. Are there any of my trend lines? No so you'll see market slides all the way down to this trend line and actually below and what's it do, then it spikes back up to that same trend. Area gets above, tries to hold above, but can't continue to slide. Okay.

That is the same exact thing that we're discussing with this one cues gets to trendline tries to bounce tries to bounce breaks down then holds below. So that is look at like a flag. Almost that breaks down pulls back re-test breakdown moves to where down to its next statistical levels. Are there any trend lines in the middle of this one and this one no trend to trendline? So if trend line holds and we bounce, we could do a short term.

Bounce but we're only considering super bullish if you're back up and trading over that, so i guess the best way to put it for now is i guess that's the only way to put it so, bigger breakdowns can happen today on the market. Obviously, if you look left and go through, these supports more specifically, it's the weekly deviations, in my opinion, all right and when we look at the spy, the spy does not have any weeklies or any deviations just below. So it's really to me you're using the cues as your guide for the breakdown level once you or, if you do break down. You would then look at the cues as your targets down to your next level and if you take out this level on the q or on the spy, then you should really be we'll probably see some panic today or if we take out that level tomorrow, we're Gon na see some panic um, it would be epic, so you already know how you're gon na do it.

You already know. What's you already know, what's up you know, what's going to happen? If it goes short, you know it's where you can look to belong so have a good day. All right guys take care.