What's going on guys welcome back to the channel, appreciate you guys tuning in we're gon na get ready and run through the spy uh and the nasdaq i'm gon na first start us off kind of, like i did yesterday with looking at the longer term levels. First and then, as we zoom into the chart, we'll start diving into some of those smaller time frames that will have even more levels so kind of trying to start everyone from a less confusing point and then move into a more granular detailed uh view. So, let's get ready to roll um, not too much has changed from yesterday's video. So you shouldn't be looking at this like there's too much more going on from what happened yesterday.

But all right here are all your long-term weekly levels. Um, you know just at a you know a quick glance. You can clearly see markets kind of trade all around these levels. Right, you could put a bunch of lines in your chart and eventually the stock is going to hit one of them.

So can't really say it's too amazing, but you know eventually the market is going to run into one of these lines. Obviously, okay. So as we look at this chart, you know still um pretty similar to yesterday right and that is the market is still below the long term statistical mean, so the market is still below its long-term average right now we are trading below negative one deviations and above Negative two, so what does that mean? It just means that the market is down, but based on statistics 90. You know um 97 percent of time are above here you know 90 or 90 yeah 96 percent of the time we're like above here and six and seven percent of time, we're above the yellow line.

So, in my opinion, right now the market has been trying to get back to this negative one deviation price and until we really cross this level, i really think we're pretty much still downtrending right, because if you look at the market stairs stepping down, so we have Lower lows: lower high lower low bounce double top down down down, taking out that low right, so you can see we're bouncing up right now. So in the short term, we have a little pull up higher highs, higher low higher high higher high, etc, etc. But we haven't even really breached this previous swing level. Right we've tried to.

We haven't really got over that, so for one we can't truly be starting a big uptrend until minimum we're over this or even over that one. So for me, i think it would be key to see the markets back over this four four four, eighty three price, but as of right now, uh we we haven't done that so nonetheless, let's start zooming in and giving you that sort of intraday perspective all right. So now, when we zoom in now we're going to go to um the five day five minute chart here all right, when we look at this five day, five minute chart, you can now see there's a ton of different lines here, there's still the weekly levels, the Only thing that's really changed is now we have weeklies baileys and six months, a lot of times the weekly and daily are going to be very close to each other um. So you can kind of see here.

You have like these overlapping lines, because you know that's where the weekly and the daily level are at so a lot of times they will overlap. Or if you look down here, you can see the weekly and then here's the daily they're pretty close to each other. So a lot of times that can be an occurrence um. So now, when we zoom in we're gon na look here and pretty much, this is the what the market's done.

This morning we have broke up a little bit yesterday over these levels and, as we've come down, we did not fold above we broke down below so that right here is a retest of the breakdown retest, the breakdown and push attempt to get back over fail and Now we're kind of grinding up with higher lows: okay, so the objective for the bulls right now is to get back over 4 34 41 and the objective for the bears is to keep the market below that level. So right now this is pretty much the over under level for bullish and bearish moves, but you don't have a breakdown in the market unless you go through 432-ish because that's where the next statistical level is at so currently the market is trapped in this zone. Okay, and until you go above or below you, don't really have an aggressive move that probably is going to take place. So, if you're, looking at the spy right now, you you pretty much need to go above 430 441 for a bullish push and you have to go below um 432 for a bearish push granted.

Those levels are probably going to change a little bit going into the open, but that's about as close as i can get it to you for uh the time game. Now, let's jump into the nasdaq um all right. So we look at the nasdaq here. Um.

Let's go back to longer term chart really quickly, all right, so we're going to start here just like some more drawings, all right and it's pretty much the same thing as the spot right. You are still below your long term, statistical mean or your long term. Statistical average you bounce by the negative three you're above negative, two below negative one right and if you look at the way that the market is trending, we'll just go from here down down bounce down down, and you can see we've kind of gotten to this. Previous swing high right there or yeah previous you know, i guess we're more lifting yeah previously high um.

I think that downtrend sorry so swing low swing high in the downtrend right there. So you have gotten above that, but barely right. You know you barely gotten over that which is right there and the market pushes up and we hold so cool good, but obviously we got to get through the next one, which is right here and objectively. I would like to see the market on the nav back over 360 123 before we get all over from billy dumb on the market on the way.

Okay. So when we move into a smaller time frame here on the nasdaq, so you're going to be presented with significantly more lines um but, as we said before, dailies and weeklies get pretty close, like here's, uh the weekly and here's daily and that's a six month right. So this is your uh. This is your weekly trend, daily trend, six month trend, okay and then the gray lines that you see are the halfway markers of those levels.

So for this weekly you have the neg 3 weekly, neg, 2 weekly and in the middle you have the grade line. This gray line is a halfway marker of this level so objectively. If, for example, you sold all the way down to here, you're like okay, we're going to bounce from this weekly all the way to that weekly, then you know that this is the halfway marker. So, in order to even get from point a to point b in statistics, it would be nice to even see the market move halfway of that distance and then start holding above the halfway marker of that statistical probability, move right so say you went down to this Level and you're, like okay, we're gon na go to this one.

Okay, it's nice to see the market sustaining above the halfway marker of that move, because if we were to bounce - and we can't even get above the halfway marker, then that's kind of like well. We're still seeing some weakness, but obviously, if we can get over and start holding, then that opens the door right little door here and little handle that opens the door for the possibility of going to the upside on that next push anyways. That might be a little complicated for something anyways here we go so now when you look into the nasdaq here, you know exactly why the market stopped where it stopped right. You have your long-term uh and it might be a daily anyways.

So you have one of your statistical levels here at 349.28. Now, do you guys know why the nasdaq top? Where top? Yes, you do the nasdaq topped here, because that's where statistical resistance is at okay, and so when you look at the nasdaq, the nasdaq is arguably a little different from the spy. But you have your six-month support right here. Go sideways and you'll see that's where the market bottom, that's where the market actually created like a little inverse head and shoulders kind of flag set up, so you go down bounce up, pull down bounce up, pull back and i have an inverse engine shoulder pad all Right, arguably, you have right that move and then you have a move down and now you kind of have what looks like a flag pattern right.

What are you going to call so when we talk about patterns right, i yeah i mean i talk about them, but it's not that i'm usually looking to trade them, i'm more or less just looking at statistical levels where i expect bounces and things can happen and Whatever pattern occurs around that statistical support happens right, so that's a way of that. I kind of look at that, so um, so yeah. Let's give some price targets now so now that we've done this whole video, you know as well as i do that markets move to and from statistical zones, and that's generally it um. So with that being said, if we look at the price of the nasdaq, you have what two price ones one there and one here.

Those are your two closest price points. So if the market's going to maintain here and go upwards, that's the next target. Okay, if the market is going to break down and go downwards, that's the next target. So, let's just say from this midpoint: this is your football field.

This here is your 50 yard line draw another box here. This is a bears end zone and this is a bull's end zone as it stands for right now, okay, and so obviously, whichever directions market want to go. That would be the objective for a bear or a bull on the deck. So with that being said, those are kind of the two price points.

Uh the markets are kind of trending towards whichever way they decide to take out of that six month, green level. There now, personally, if you ask me, i'm going to be more on the bull side and the reason i'm going to be on the bulls side is because we are up trending in the short term right, so we have bounced higher low higher high higher low higher High higher low higher high higher low now, if you look back to a longer term chart, yes, you could say: hey we're still in a downtrend, but for the time being, the way the market is moving is up higher low, higher high higher low higher high higher Low higher high higher low higher high until this immediate short term trend stops doing that we're going to trade up so for now, you're going to look for the market to probably go back on the nasdaq all the way to 349.25 today as a potential target. As long as that, uptrend stays intact, going back to the spine um, what you would want to do is actually something like this. Don't worry about this stuff here for the time being um.

So when you look at the nasdaq or sorry the spy, you can see the spy. Has these two price points right here and here so you're going to use the spy as your gauge for the nasdaq, which basically means the spy, has to get all the way through this little box to get through those two statistical levels that are right there and Once you do that, then we start opening the discussion even more for that target that we suggested on the nasdaq, which is up there, and that is pretty much all i'm going to say on today's video. I hope that wasn't too confusing. I hope you guys are learning along the way and um that's about it.

You guys have a great great day.