What's going on guys welcome back to your morning market rundown, we're gon na go through uh, triple q's and uh spy, so we're gon na talk a little bit about yesterday and then we'll kind of go into uh today. So, to put it simply, so you don't have to stick around for this entire video. The way i see it is this is a potential sell-off target today and we're not going to really see the market extremely bullish unless it crossed over that point. So if you're watching this video and you're looking for a big bearish move to go down as of right now, you really shouldn't look any further than 474 54 in the spy and then, if you're, also looking for some sort of breakout move, you don't have a Breakout until minimum 478 and above um, and then i guess, if you were looking for a dip, buy you're already on one this morning and if you're looking for your breakdown short, it doesn't happen until you get below the monthly level here, which is at about 477 20Ish so yeah there you go now.

If you want to stick around for a little bit more of the video i kind of run through some stuff from yesterday, so um yesterday, this uh, this dotted line you see here, was actually down there. Um in this blue line, you see - i didn't even have that on the chart yesterday because i didn't know it existed, so i ended up editing it this morning, but it's just a monthly level is all it really comes down to. So yesterday that dotted white line was down to here about there. So that's why yesterday we recommended you watch the markets pretty much bearish or have a first downside target of about there and then you'll notice.

That's end up being sort of the cliff dive location right. There is where it end up falling apart. So at one point in the day yesterday, the market sells off to its target and it holds that target bounces bounces later it snaps goes to the monthly breaks the monthly, but does not sustain trading below the monthly. We get bought back up to the monthly and we end up chopping and kind of holding there.

So when you think about how the market traded yesterday and where things are positioned now, instead of this dotted line being down here, looking like that, it is actually recalibrated. If you may - and now it's up here so now, it's creating this channel that the market is now trading within, so you don't have a breakdown until you're below the teal and you don't have a breakout until you're above the dotted white line in the upside. Now, if the teal level breaks on the downside, we would then obviously consider maybe the markets are going to go through a little bit of a bearish pullback before going higher, totally cool with that, and if they do, then it would be maybe down to 474.54. That's where you'd be targeting on your short as long as trend remains down so again, this could break down and go like this and then stop bounce put in a higher low break previous swing highs and not go there and go back up.

So as long as the market continues in a downtrend once you break it, you can go there if it does not get there and it reverses and goes into an uptrend. Well, it's starting an uptrend. So again, targets can be met as long as when, obviously the markets are trying they remain in that downtrend or if the target is up, they remain in that uptrend to that target. Okay, so uh.

Nonetheless, on the downside, we'll look for a 474 54. uh bearish move if we get some sort of big breakdown, that's also where we would look for reversal long play on this day. To start all right, let's go to the cues, there's no long target on the spy for right now, because the long target we're looking at next is on the qs. So before we start so pretty much.

The long target for spy is that of the qs. Therefore, qqq's keep ripping maybe next week or so q's. All the way up to here is our next target, so, whatever price the spy ends up being, which you could calculate it one way or the other like. Maybe even do like a beta comparison or um like an average true range thing, but anyways um yeah.

So is so, whenever the cues get into like this area, you know if, when you know this is pretty much where we expect the spy would end up having resistance as well so um. That's our next long target up on the qs is up to about 410. Now yesterday i told you 409 now it's 4 10. um, so we'll look up to about 4 10ish next, but we're totally cool with seeing this dip back down.

Re-Test this big breakout for a dip add then go to 410. That would be even better um. You can also see that we're we, we may have started a downtrend today. You might be like really but yeah, it's possible to a degree.

I mean if you kind of look, we're going up going up, going up, going up up up, break down bounce holding below now. Okay, so we were up trending and then this rollover broke down previous swing lows. We bounced back. We retest that and we're still staying below.

So therefore, we could have done a short term, downtrend start and if it rolls over, we would target down to. Maybe here add long bounce it and if we can start a new breakout, then we might be once again off to the races or something like that. That's possible all right. It's a lot of what-ifs there, but uh anyways, so um, that's kind of what we're watching.

Now, if you look at the queues, you will see that the cues - and let me just make sure i could have deleted this level from yesterday - uh. No, i didn't, but it is adjusted all right. So this is the closest level we have for the queues down to about 399, then 398.58. So on the downside, that's where we'll be looking for the queues to go 399.65 to 398 area, so um.

That is that's pretty much uh today's morning, video for you guys so everybody take care, have a great rest of your day. As many of you guys know, um yesterday ended up. I decided it would be the last day of me at least streaming to youtube full-time. The way i was not to say that i won't ever do a stream again, but um just taking a break from the streaming side of things, because it hasn't really done much for my channel, but that's okay.

So what i'm probably going to do now is just continue trading, putting more effort into my trading and into my videos and still uploading a bunch of content for you guys on the trading side of things um but yeah. I hope you guys enjoy those, and i will see you on the next video.