What's going on guys welcome back to the channel? What we're going to do is a quick rundown of the market here so all said and done. Market had a great day. You know up about 800 points, 1.8 percent of the day, yada yada just means the stock market had a good day. So the good news here is that your 401k and your roth iras or your long-term investments are probably doing significantly better today.

The other bonus to that is your wife, she's, no longer thinking about divorcing you, because your investments are down 30 year-to-date. You can probably also thank jay powell, the boy for turning that prince run. Again, we don't know for sure, but it's probably running at max speed behind the scenes, even though they said they were tapering anyways. So what we want to do here is take a look at some of these levels and try to make a little sense of this uh.

So before we go into looking at the current chart on my screen, i do want to bring up um. Excuse me my twitter page, because i think this will help you know, along with this video, so um, i was posting to twitter earlier. You know about the market breaking out of the monthly level and talking about retests on the monthly, even though they don't quite touch here and there's reasons for that. You can read those twitter posts, but really the simple point is we break out the monthly, and these are pullbacks retesting, those breakout levels, and if the market was successful at breaking out, we typically expect that you know it's trend will run up to like the next Levels before you find significant selling, sometimes um, but anyways right at the time of making these twitter posts and whatnot it's just trying to emphasize hey guys market has actually broken out.

We break out of the monthly. These are retests of the monthly break um. You know all said and done all right now, the next post i want to show you guys. Oh sorry, and the important thing about this picture is where the price of the big orange line is.

Excuse me. I want you guys to pay attention to where that big orange line is right. So just know that you know right around, you know 10 or whenever the market broke out here the orange line was here. So this was a break above and on that very minuscule.

Granular one minute time frame, we get a pullback to basically hold the monthly, and i believe this is a four hour daily, but just anyways it doesn't matter. We just basically break up and hold our long-term statistical levels right so on a very minuscule time frame. One minute chart even smaller than that. I guess you can see.

We do break above a monthly and pull back and test that monthly, and then we go at which point later we kind of come down very close to don't quite get there and bounce and kind of do the same thing here so on so forth. But the concept is that, at the time of this move in the market today on the s p 500, that was the price of our monthly level. The reason i want you to emphasize - or i'm emphasizing that is because you will see that level has changed when we go back to the regular chart, and this is going to help. You guys understand a little bit more about my system and not even my system.

Just the way that i look at the markets, i guess so now. What i want to do is i want to bring up a photo from not there here. So this was also another snippet or like screenshot i took today. This was at 11 59 a.m.

Today, so you will see at 11 59 i take the screenshot, we post a discord and just notations on the screen. I will look too short here or expect selling in a pullback, and so you can see. I have arrows pointed at 440, 804 and 447.59 and actually look at the time of this snippet. You can see where that orange line is, you can see, it's changed a little bit.

It's kind of risen up and the reason that this line has increased is because the market has gone up. So this statistical support level is increasing to the upside as the markets get more bullish, because it's a statistical deviation. So when you're talking about deviating, this level needs to update, as that market continues to deviate in one direction or the other in in a more complex way of saying that i guess, but anyways it doesn't really matter. All you got to know is that we are going to look for selling or shorting here at these prices.

Remember earlier and just like couple minutes ago in this video, i said when we break one of these longer term levels and we truly break out. We typically trend to the next one. So if i'm going to be trying to pick a short off the top of a bullish market which again isn't necessarily the smartest thing to do because you're trading against the trend. But if you were to do it as i was in this example, you need to make sure that you're doing it at a limited risk time.

Because again, if it's a bullish market you're going to pick a top, you can just continuously get squeezed unless you're into a lower risk area anyways. So this is me expecting selling press around 448 to 447. At you know, 11 59 saying hey. We get here! Look for selling and whatnot um.

We will now go back to the stock chart. So here are those prices. 44808. 447.80.

They may have changed a little bit from that photo, but you can see they're pretty similar. You will see as we get to here for the first time we pull back and sure we go a little higher, but eventually break into it and kind of sell off in that zone. So all said and done, we did not stop exactly at the zone. We ran into it and then we pulled back in it and then we broke out from it and then we kind of trade around, but eventually we kind of broke down out of that zone.

Now, since the market was so bullish today, a lot of good buying in the market totally makes sense as to why we kind of went into it, went through it and maybe chopped it before coming down as opposed just running into it and getting smashed down. Okay, the market was very bullish today, so again, trying to short the top of a bullish market is not going to be the easiest thing, especially if you're not looking in the right places. So today in that photo, you know it's talking about. Hey, maybe we'll be a little bearish here, it's just because at the time remember that photo i'm like hey guys, we i'll just redraw it.

You know we can just be like hey, remember it was like breakout. Okay and then the recommendation was like you know: retest retest, retest breakout all right and then, if the market truly breaks out, we expected the trending move would be up to the next statistical levels, which would be these areas and then you'll. Remember i had that text that we said will look too short here or expect selling pressure, we'll look to short here, expect selling pressure so then you'll see as the markets get to there for the first time they pull back, not a lot again very bullish market Gon na be very hard to try to reverse the trend of an extremely bullish market for the whole day right. That's that idea of shorting against a major trend, but you will you will see that all said and done as we get into there.

You have a perfect head and shoulders pattern form right in our statistical zone, which then breaks down. So, regardless of the pattern and how long it took to break down the meat and potatoes of it is basically just that you know when the market successfully broke out and we retested and you know, markets kept going. The next statistical level up would be here and at the time we don't know for sure that the market's going to go from here to here it's not always a guarantee. Sometimes you can get very close and roll over, but the concept alone is that if the market did successfully break and we're going to go up and it is going to trend all the way to the next one awesome for one but a lot of times, you Can expect that you're going to find some sellers there um, you can expect you're going to find some sellers there, just as we had mentioned in that previous photo from earlier, which is right here right.

I will look to expect or look too short here expect selling. So i should pull back in that area 448.04 to 47.59. At the time - and here you can see it's 448.08 447.78 right, so prices are very similar um. So what time was that actually was 11, so 11 59, or something like that so like right here? Basically so you're right there, i'm basically saying hey, we'll look to short when we get to here, you know so being able to build plans ahead of time knowing probabilistic areas.

Maybe you want to take advantage of things like that. Can just you know, just keep you prepared in the market and so on so forth. So hope you guys, like the video, have a great night. I guess i will see you guys in the morning.

Everybody take care.