What's going on guys welcome back to the channel uh, so this is supposed to be probably the quickest market breakdown, video for you guys on the qqq, so i'll try to do my best and go through it as quick as i possibly can uh. So things might look a little bit different on the chart from you, guys probably are used to seeing, but that's okay, all you got to know is that everything you see here are weekly and daily levels. These are not four-hour levels, so the deviation levels that we like to use this that and the other these are them. The only ones that aren't here are the four hour level, which we'll add so as it stands right now with the qqq, your upside targets are 407 to 405.97.

Your downside target supports right now are 393.45 to 392.18. You will only see a big sell-off in the market if the qqq were to come down and actually cross below 393.54 and 392.24, as that is the weekly and the daily statistical mean support. So you will not get a big market sell-off unless you actually go through that price. Now, if we look at the four-hour chart um, you actually have another support that comes in right there.

So this is why the market bounced yesterday, where it bounced you see how close that trend line comes into the low a day there. That was pretty much what the qqq's were targeting down to yesterday and they held so again you won't even come down to the weekly level unless you actually went through that so before when we said hey, this is support. It is support, but before you would even touch this support, you would first touch the support here, which is around 396.21. So what you really should be watching for the qs right now is most likely to stay on the long side, with the idea that we may have a little bit of a support touch around 396.14.

Arguably, if it breaks that we go down to 393.39, but nonetheless you're really kind of just looking for the markets to go back up on the qqq's all the way to 405 to 407 27. um in, and i mean that that's pretty much it for now. All right guys have a good one, and the next video coming up here in just a few minutes will be on the spy.