What's going on guys welcome back to the channel today we're going to be looking at the spy, we're looking at the nasdaq, we'll take a little quick look at uh tesla and then we're going to be looking at netflix yesterday, the market rallied like crazy, big breakout On the upside, if you missed it, that's okay, not a big deal. It happens all the time. So now what we want to talk about is how the market is going to perform going forward and then also touch on some things that took place yesterday. So we're going to do is we're going to put this on a five-day five-minute chart all right, so yesterday, pre-market pretty much said that the price would either go to here or here in every day.

That's pretty much how the market's going to work when you think about it in terms of statistical probabilities, there's only a few places. You can really expect the market's going to go, and typically that's up or down right, and once you have an idea as far as where those price points are that the market should go to up or down, it becomes a little bit easier for gauging things that Can happen in the marketplace all right, so yesterday, market rips up, let's zoom in all right when we look at an action, put this on a five day, one minute, all right! So when we zoom in - and we really look at the market yesterday and talk about how the price interacted with statistical probabilities bottom line, is we run to these ones we break through them? We run to this one. We pull back. We break that one.

We pull back and hold it as support. We break up all the way to the next one, and then we start to break down and do lower highs off of it, which then takes us all the way to the one just below right and then we squeeze up and run up et cetera, et cetera. All right so, looking at today, the market has broken up. We have filled the gap at this point there was a gap fill on the spy which has already been filled.

At this point, i don't think it makes any more sense to watch the market long up to more than 448.37 on the spy today. So for right. Now my max long target on the day before expecting a new pullback in the market or some sort of interaction that might cause a pullback would be up to 448.37 all right and when looking at the nasdaq nasdaq, we're not going to really look for the markets. To be any higher than 349.89 to 350 46 and those will probably change so we'll just call it 350 to 350, 50 right so anywhere from 350 dollars to 350 and 50 cents on the nasdaq would be our upside destination.

At this point, we're not going to look any higher than that on the day. We will only consider going higher than those prices that we talked about if and when the market is at these prices and sustaining above these prices with pullbacks all right. So, a way that you could think of that right what i just said: we won't look any higher than this price or this price unless the market goes above and sustains with pullbacks. What does that look like that looks like this see how and i'm a point there first see that okay see that and that all right, let's delete this, we're going to zoom in a bit, so think only look higher than this price here in the spy, and This price here on the nasdaq and this price here on the nasdaq in the event the prices get there, and then they perform like this, where the market exceeds the level.

Well, that's a terrible one. We want that one where the market exceeds the level pulls back and holds a level goes up again, maybe pulls back holds a level pulled back holds a level holds the level holds the level. That's what that can look like all right, so we don't want to get to these levels and then go okay, i'm going to buy long when it starts to do this, goes to the level and holds below the level and starts to sell down below the level Right or it breaks above the level and then pulls back down under and it can't get back over then you're probably forming a lower high okay. So for now the max long destination for me, spy 448.37 max long destination.

For me, nasdaq 350 50 only higher when and if we clear those levels with sustaining supporting pullbacks above okay now in case all of that doesn't come to fruition right away and the market does something else. Arguably, your pullback, from where we're currently at in the market, should be back down to the prices of 346.72 to 346.50 on the nasdaq, because this was a breakout to the upside. Arguably did not retest that breakout so could very well want to pull back to start. The day to retest the breakout before trying to move higher throughout the day or into the next trading session.

Okay, there is one thing that i will show here: this is a moving average system all right. This is a 10 day 30 minute charting time frame. The simplest way to put it is when the blue crosses the red. The market is in a downtrend, and this is more of short-term trading downtrend all right and when the blue crosses above the red, the market has entered into an uptrend.

It's not going to always give you the most perfect entry or this or that you know, but the concept is is when in fact the blue. In this case, when the blue crossed the red, there was still a big move that day afterwards and then the next day it tanked right. So when this first cross, the price of the spy was trading here at about 452, maybe 451, the following day was trading down at 442.. So a thousand point drop from that cross all right here, the markets when the blue cross, the red.

Yesterday the market was trading at 443.75, okay, 443.75 and this morning we're trading at 447.. So arguably a four point or 400 point move up so far, all right. Based on that now, the other thing is that markets went into a downtrend here. Blue over red markets are now up trending, and you can see since yesterday and into the day all the dips are getting bought and the markets are moving higher.

Okay. So, with that being said, markets aren't in a slight new uptrend that doesn't have to last. For a long time, but the concept is the market isn't truly in a downtrend per se on a trading perspective until this blue is back down below the red okay. So now you know that the markets are more into an uptrending motion.

We are into an uptrend. That's part of the reason why yesterday was so bullish and held together, so well is because we did have one of those crosses and as it stands right now, your only selling action you'll see are pullbacks right. Everything you're seeing selling wise is a pullback right until the market makes that moving average cross and then those pullbacks are now downtrending bearish moves. Uh is one way to think about it.

Okay, all right, so i think we did enough detail on that. Now, we'll go. Take a look at tesla, so the tesla target uh will be 10 42 17 on the day. I believe, unless there's something else here, that i need to be worrying about: let's just double check: nope yeah, so your long target right now tesla is about 10.

42. 17 - and that is in the event we see that market go up to those targets. We had previously talked about um. So as long as markets move up to like that, whatever those price targets we talked about earlier, then you should see the 10 42 17 target and then after that would be 10 60, 94 and after that would be 10, 72.

15.. All right, tesla, wise netflix, uh netflix got pretty much spanked uh on earnings, um and actually really quickly. I'm gon na show you something on the spy. So yesterday the spy started tanking here, uh towards the end of the day.

Sorry spy started a tank towards the end of the day and into after hours, which is basically because netflix got destroyed so spy tanks right end of day into after hours. All the way down to that level. Remember that was the level that was holding all day right. We broke it up here, held pull back pushed held, held, held, held held so clearly, you know there are some computers trading around this level because to start the day, this level on the spy was here.

Netflix had not dropped right so think about it. This price level is here all day. Netflix is going up for the most of the day. Netflix has not tanked already so before netflix tanks.

The market had already decided to support that level. Support that level support that level support that level. Arguably, the only unknown factor was netflix earnings which tanks right so this tanks, but it only tanks down to the same level that was previously being supported on the day right, because computers and algorithms have already been deciding to be buying this up for the day. So that was a price point.

They wanted to maintain right there, okay, so anyways, looking at uh looking at netflix here, you know actually it's a good good time to talk about this right. So looking at netflix you'd be like oh, the deviations don't hold. Look. You broke the deviation here and then it broke it here and here it's like you true, true, true, true right.

This is a moment where you say volatility right when volatility is so extreme. Let's do that volatility. When volatility is so extreme yeah things are going to break easier than they would if there wasn't as much volatility and then when the volatility starts to slow and people in the markets be start to become more rational thinkers as opposed to volatile emotional thinkers, then the Market will start to respect again right so you'll see the markets tanking. It does a little green thing here shoots down.

Now we get pretty close to this one and bounce a bit. We get below this and hold below it and down, and then we start to get some action going again and then you'll see into this morning. The volatility is slowed and bounce under hold below bounce back, hold below hold below hold below now rolling over right. So when the volatility is super high, the likelihood that deviations are respected indefinitely is lower, as opposed to when the volatility subsides, just like you saw yesterday on the spine all right.

So if you look at the trading action yesterday on the spy it whatever it just we just rip up right, volatility's high momentum's. There we get a little blip of a two pullbacks on one minute candles up to the next one, little blip of a pullback, and then we get up to this one. You know, and then we start to see a nice pullback right and then we get above and then pull back and hold, and then you can start to see we slow down and we top top on it, pull down to it. So when we're in the really volatile volume move many times you could surpass just depends on the setup and then once things kind of subside and uh emotional trading and volume are now i say, volume slows, but just that that volatile environment um slows down a bit.

Then you can see a lot of times. The action will respect uh very nicely. So that's today's morning, video. I hope you guys uh took away from that a lot and i'll catch.

You guys on the next one.