What's going on guys welcome back to the channel, so we got some things to discuss some levels to talk about, but by the time uh you get done watching this video and i get done making it. I think we're gon na be pretty pretty up to speed. So um the market up down up down up down up down up down yada yada yada yada, all right really, you know we've kind of come down. We've bounced, we've pulled back down, we've gone up, we've pulled back down and we've gone up.

So really, we've just created a inverse head and shoulders pattern, which is a bullish pattern. Okay, now, where did that inverse head and shoulders pattern take place just over and just on your 180-day four-hour statistical mean as defined by that line? Okay, take a look at your daily chart and this will all become more clear in just a second and then you also have your long-term daily statistical level right there, and if we switch to the one year weekly, you will also see we have our one year. Weekly statistical level right there, which i'm going to make a width of 5, so we know exactly which one that is when we zoom in so when we go and look at a chart with no data right and we'll look at a like a 30 day. 10 minute you'll see what i mean.

So we look at a 30 day 10 minute. Those are all of those long term, statistical trends we were talking about so as the markets pulled back, they pulled back the four hour trend, bounce double bottom, four hour trend bounce, but could not clear that resistance. So we don't break away all right. So then we roll back down to the trend, create a lower high break down.

You remember the big one is the weekly, so that's the long term statistical weekly level. So now, in the bigger picture you have a down move, you have an up move, and now you have a down move. So now you have the head of the inverse head and shoulders off the weekly statistical level. You will see, then it kind of goes up.

You do a flag pattern just over the long term four hour, all right and you get that ghost wick candle to tag the four hour that day flag, breakout back to previous price resistance. Can't break through following day tries again can't break through market flushes back down. But to where the long term four hour - and i think there was another level that was never mine but anyways long term, four slightly below then back up so again, that's where you get your inverse head and shoulders pattern. Okay, a lot of lines in there.

I know so remember bigger inverse head and shoulder pattern is like this. Okay, so qqqs are not going to do anything too crazy on the long side, unless you actually go through all of the price action resistance here. Okay, once you go through that price action, resistance, there's really nothing stopping it, basically till the all-time high, because if you look left once you go through this start, looking left at like the cursor in that line, there's really just a big down drop. So, there's not like a lot of um stair step action right.

It's just big down slight bounce up big down right, so it's not like it went down consolidated down consolidated down consolidated down consolidated. So when we break up, there's really not a whole lot of anything to stop that move from really just attacking back to all-time high areas. Now, to be more specific on where we could attack for the qs on the way back up, we will again use the weekly chart. We will map off our levels on the upside for the qs.

There's one 180 day four hour chart. You will see pretty much as almost the exact same price as the weekly, so in this case we probably don't even really need to map that one. But you know i'll just make sure we make this one bigger go to the daily chart and the daily chart level comes in just before the weekly. So that would make sense to maybe put some emphasis emphasis on so now when we look at the chart and we'll go back to the one, that's clean.

So now, when we look at the chart, our closest statistical levels on the upside as of right now are 403 to 405, meaning when and if we break this price action on the upside. This breakout, i will only on the day or when it happens. At that moment, in time target up to 403 to 405, i will not target the all-time high. I will not target here.

I won't target. I will target that line and that line, because that's the closest statistical level, the same way that the market sold down and started bouncing here and bouncing here and bouncing here, and here it was selling down into long-term statistical levels. If the market breaks up through this price, we'd be breaking up and trending towards long-term statistical levels, so those would be the targets on the spy for a long break of let's just call it 401, and that, ladies and gentlemen, is really the entire video on the Long side, okay, um, it is my belief, we're gon na go up. I really didn't think we were gon na go down again, but you know anything can really happen.

So that's the upside. I think we're gon na go up, but in case some weird stuff happens. I'll also give you you know what you can consider for a downside, pretty much if you're thinking bearish this market's going to end, i mean you really don't even have to worry about the market going much lower unless the price actually goes below these two trends. So i'm not going to do a big, in-depth analysis because i don't really have to because all i have to do is just basically tell you, you see where the bottom of this this week is last week, and you see where the bottom of this week is.

This week, look at the wicks: where are they they're on the long-term statistical weekly trending support, which is this big white line? Now you will then see in just a second when we do it like boom right there. So again, if you're thinking, qqq's down omicron, it's gon na just destroy everything. That's cool you're, not gon na get some sort of big snap unless you actually go below three. Ninety four, forty to three: ninety, twenty, three, three, ninety one, twenty four! Now you can see the market have a big sell off to these levels, to retest, maybe but you're not going to see this sort of sideways consolidation snap down, unless you obviously go through the lows which are currently being held by the weekly and the four hour.

So again, you're like yeah. Well, of course, if we break support, we're gon na go down yes, but this support in this support are defined by these trends, so you're, really just watching for selling action through those trends to give you a greater move down. Otherwise, you know 405's 406 all right good morning. I hope you guys get tickled in all the right ways today by the market have a good one.