Good morning, ladies and gentlemen, everybody welcome back to your morning market rundown, we're going to cover the spy. Then we're going to go for the q, we're going to make it really quick um. So yesterday the recommended price target on the spy was like max target for the day around 477.. We ended up hitting that max target perfectly.

So that's awesome. So yesterday, what we told you to do was look at the spy for the long targets and let me explain why, so when we look at the cues right go to qqq and we look at the cues once the qs took out the weekly level right here, Which, by the way that kind of helped kickstart, you know, maybe a breakout to a degree, but you can see once the qs took out this level. There was no levels until up to here right, but if you look at the spy - and maybe if we do this on two charts, it will actually help. I don't know why i wasn't doing that before alright.

So when we look at the cues from yesterday right and we'll just do everything on a same same time frame so five day, 15 minute, all right so yesterday this was like you know, basically the open right there. Okay, this here was basically the open okay, so you'll see on the cues there's nothing until here. But if you look at the spy, you have a level here and here so yesterday we recommended that you put more emphasis or you would look at the spy and kind of use, the spy as your gauge for the qqq, because the spy could give you guidance. Just above with all these levels, whereas the qqq you wouldn't have any guidance or any or any levels, all the way until 409.99, until 412 etc.

So as of now or as it standed yesterday, you wanted to use the spy going upwards to try to figure out where your long targets were since you've kind of surpassed those the only long targets we have on the spy. Now are all the way up. 486 to 488, which will not happen right now. Okay, they won't happen.

What will happen is we could we could we go from will to good? You see you see that stock market stuff there that lingo tingo okay, here's the reality, we're more likely to go to 410 412 on qqq. Obviously before you see 486 and 488 on the spy. So right now, since the long targets are so far away on the spy, we're not going to use them, we're just going to use the ones on the q's, which are right now, 4, 10 to 4 12.. On average, we've been seeing the market put in four five six dollar days.

Okay, the targets on the queues right now are about four to five slash: six dollars away. The targets on the spy are like 10.. We haven't been seeing too many ten point days in the market. Twelve hundred point days thousand point day.

So in terms of what's probably going to happen, it would make sense that we probably go to 409.99 before we go to 488 on the spy. Then, when we take a step back and zoom out and actually look at the chart, what would that then look like so that 409 price right here for 10-ish that would line up with the previous all-time high in the qs right? So if you just think about it, oh yeah, i guess that kind of does make sense like we'd go up and maybe re-test the previous all-time high before going to the all-time high, possibly and then it's like, oh and we have a resistance mark that lines up Perfectly with the all-time high, all the stars are aligning so next target up. Cues will basically be the re-test of the all-time high. There is a good chance.

We actually have some resistance there and pull back, which i'm totally cool with seeing okay. Now, let's talk about the bear side of this market, all right, so just in case things don't go, you know perfectly up. You know what we could see, which already kind of happened was a pull back down to this dotted white line. But you can see the market already did one of those ghost wicks this morning.

You know those uh, those wicks, that you're not allowed to trade, but they do happen in the market. Randomly i mean you know, look where that candle went to not per not not perfectly but almost and a lot of times they do, but you know just randomly that random wick goes all the way. Oh, i think, almost to our perfect, you know statistical level. So, just just odd all right, so today um, i would not be opposed to seeing a pullback before seeing the market higher.

I even said that yesterday it didn't happen so today if markets want to pull back before continuing this uptrend. My first target down on the market would be this dotted arrow on the spy. So we would not look at the qs for a down target. We'd look at the spy so today, if the markets go down, they shift down we'll be looking at the spy to get a gauge for how far the drop will go before we might get some buying pressure and then today, if the market just goes zinc straight Up then, we'll look at the qs for the long target, so first short target on the day via spy will be 477.50 in some fairy tale land that we actually break that and had some crazy down day.

We would then look to 474. 60 or whatever. I don't even think that's going to happen so for now, if anything, maybe a smidge of a pull down to 477 better than that, that's really all i kind of see for right now. All right guys take care and have a great rest of your day.