good morning ladies and gentlemen everybody welcome back to the channel ben obviously pretty crazy past couple months housing's down bitcoin is down stocks are down pretty much everything's down now it's not really surprising since we've already expected that the s p 500 was planning on going to a price of 364 dollars this year so right now the spy is at about 389 expectation is we're going to 364. so my belief is we'll see a price of 364 on the s p 500 once we get to around the 364 360s area um then the market's going to dead cap bounce we're going to go through a relief bounce and the market will have a pretty strong rally everyone's going to think the bottom's in uh and then we're going to roll over into a longer term bear market that is an idea i have until that that until that idea is proven to be false that's the idea i'm going with so expectations s p 500 down to 364 360s give or take dollars and then we're going to see a dead cat bounce and then you want to short into the dead cat bounce so um either way i think spy is going to go to 364. what we're currently looking at today uh we had a ghostwood here on the nasdaq up to 292. so arguably we get a 292 tag today the only way we can get a 292 tag is if the s p 500 gets above the 391 391.43 price so currently the control point going in for the day kind of looks like well could arguably this 390 50 to 391.43 but here it is looking at the nasdaq the reason the nasdaq is kind of hesitating here pre-market is because we have statistical probabilities here pre-market same thing with the spy so you know bottom line the market goes bearish first price target down's on the spy first price target down on the nasdaq would be 279.

so again the only way that those downward targets are going to hit for the day is if the s p 500 maintains below its statistical probabilities at 391.43 staying below that then we can roll down further getting above that can create a short term pop again we're in a bearish motion so anything that goes long bias you should expect is going to get sold into okay so overall right now downside destination 364 expectation is a dead cat bounce around the 360s 360 force um and i mean really that's probably all we'll do for the day oh you know maybe i'll pop the bitcoin really quickly so for those that follow on twitter you guys know we recommended that bitcoin is going to go to 28 000. then after 28 000. i'm going to go into the 25 000 range um months back we talked about the gap fill that bitcoin had on the yearly chart well just in general so we talked about the gap fill that bitcoin had which was right sorry i know there's a lot of lines here oh you can't even hardly see it in here right you can't even see it it's maybe i should pull up another chart but anyway it doesn't really matter there was a gap fill here at uh like 25 000 it's like right there okay and so today we just came in and pretty much filled that gap i believe or we got close so we started getting into that gap area um so for right now bitcoins on a short term support if you get a little bit of a bounce here makes perfect sense but ultimately um if this zone right here so all these green lines if the market wants and we start getting acceptance below that level then that opens up the door for going down into the twenty thousand to sixteen thousand dollar range into the sixteen twenty sixteen thousand dollar range this is where i would be obviously buying some i'm already buying bitcoin i actually buy bitcoin in a dollar cost average approach so every week i'm buying it and that's on the expectation that sometime in my lifetime it will be higher than the prices we're currently at um and that throughout my lifetime will fully flip the digital currency and bitcoin is going to have a home in that world somewhere um so with that being said i think we could also see prices of 19 000 17 000 arguably all the way down to here and and this is really not what you want to see you don't want to see the prices down here uh at all but you know down here uh generally would create a bounce play so anywhere in this blue to purple area on bitcoin you know probably be adding some long so that being said i will catch all of you guys on the next video take care.