What's going on guys welcome back to the channel, what we're going to do is cover the market really quickly. First, we're going to start with uh the spy. Then we'll take a look at the nasdaq, but before we get into today's price action and potential movement uh, what i first want to talk about is yesterday's trading action. Okay, so first i just want to touch on things we mentioned in yesterday's video, then dive into today.

So yesterday we had mentioned early pre-market. This is the swing, long level, meaning you're only long to this point on the day. Until obviously, you get acceptance above and once you do, then we could talk about a push to say: 420, arguably 422 right. So whenever there's an open space in the chart so from here to here.

This is where the market can trend. When it gets to a line, then you typically have a pullback or when it gets to the next one. You get consolidation all right. That's that's the idea.

So you can see yesterday we push to here. We pull down to the green ones, just below chop under reject and then we trend down to the next and then we bounce and we run all the way back up. And then we get a pullback, some consolidation, another run and then a pullback. So, just by that little overview, we did to help you kind of understand whenever there's the dead space in the chart, that's where the big kind of trending move kind of can go down to the next level right.

So yesterday this was uh. This was a bullish day, all right markets, trended strong rallied hard, so going into today. You should be optimistic that there's going to be some people trading on the bull side, still some people trading on the bear side, but for now you, you really should be optimistic for still potential long bias movements. So what i mean is, i am looking at this as our intraday support.

For now you can see we bounce there pre-market and that's because those statistical probabilities are there so right now, today's um initial demand spot from pre-market based off statistical probabilities is 4 12. 89 to 4, 13 63. and our immediate intraday supply zone resistance that if we are not above and holding above then we're not going to get trending long bias. Movement for the day is 4.

16 42 market has to be above 4, 16 42 sustaining to get any sort of trend long movement. Otherwise you would just be looking at a continuation plate into resistance or you're looking at a dip bounce retest potential trend breakout later, okay. So for right now, your two closest probability price points are 4, 16, 42 and 4 13. 63.

These price points are magnets. The markets always trend to and from them on a day-to-day basis, so these levels will get hit throughout the day. It's it's not an if it's just a when okay, now, what i want to do is i want to bring up the nasdaq here really quickly, all right. So looking at the nasdaq nasdaq probability, levels right now are from 319 70 down to the price of 311.80.

Now those could update a little bit as we get into the open, but for now that's where its two biggest probability levels are at. So i know that there's a bunch of half deviation levels in here we're not going to really talk about, but nonetheless, the way it sits this morning is the market has hit resistance, pre-market. Okay, the pre-market highs are not the true resistance right now. Okay, so you have 416 42 as your top resistance point on the spy which i believe we're going to see hit today.

I think the markets are going to trend up into that point, and then you have some resistance here, which is at 319, 319.70. Okay. So, ideally, you need to see the markets getting about 416 with acceptance to look for more long bias movement. All right, then, in the event that actually happens, the market puts in a pretty solid rally.

We would then look to the prices of 420 45 to 422.91. On the spy - and we would look up to the price of 323 on the nasdaq so on a true long, breakout, we'll look for targets of 323 on the nasdaq go and look for targets of 420, 45, 422 91 on the spy. Only way that happens is if both the nasdaq and the spy gain acceptance over their first resistance price levels, which, in this event is almost a pre-market high, pretty close, but not quite um, and that is uh. That's pretty much it for you guys, uh all right with that being said, i will see you guys in the next video take care.