What's going on guys welcome back to the channel, we are doing a mid morning. Midday little market update um. So if you haven't already, i highly recommend you go back. Watch the first video posted today this morning about what you might expect for the markets going forward today day, if you haven't done so already, because that will definitely tie into this video pretty nicely so to keep things as simple as possible.

You know what i mentioned was the market won't really get bullish on the spy unless you break over this trend line and hold over it, and the markets won't really get very bearish. Unless you break below this blue trend line and hold below it, which we're kind of trying it again right now, so that was pretty much the recommendation. Is you can't really be too bearish unless you stay below that level and you can't really be too bullish unless the market remains above the level? Which is why you're seeing this kind of choppy consolidating back and forth movement? Because there are two specific trend: lines that the bears and the bulls are currently battling around and they're, so close or they've kind of been close together that that's. Why you're getting the whipsaw back and forth? Because the market isn't breaking out right now and it isn't breaking down, we are in a sideways market trapped within trends and until the market breaks away, you aren't really going to see those full-on trending moves like you had been seeing for past couple days.

So until the markets break resistance, we won't really see trends up and until the markets really break supports down we're not going to see a big kind of sell-off kind of move all right, so that was kind of the whole process today, going forward the recommended max Or the first recommended long target for the day was 404 34.. We only hit a high of 403.59 and the reason being is. If we were to kind of look back at the previous trading sessions, we are running into a supply zone that the bulls are just not able to break. So you can see we topped here and rolled down.

You will see right now. The bulls have not been able to break that level. Does that mean that they won't break it later? No, it just means that, as of right now, there is supply here, that's preventing the current bullish move to continue going, so it does not mean that the long target of 404 is wrong. It just means that it's not being obtained, or it hasn't achieved that move.

Yet, and or today could very well be tomorrow or two days from now, depending on how the market shakes out, it might not even happen, and the only way it's not going to happen is that the stock market fully crashes, because if the stock market doesn't fully Crash that means we're eventually going to go up and eventually get hit right, but the concept is, is we're pretty close to that? That is the long target that we are looking for today. It's a long target we'll be looking for tomorrow until the market truly starts. Trending down and then we'll start picking down targets so as it sits if we were to kind of take a peek at this market right. This is a big uptrend and then we went into a downtrend right here.

That's where we went to a downtrend, we're going up higher high higher low higher high higher low higher high higher low higher high higher high pullback higher high little pullback up, and then we break down the previous swing low. All right! So look higher high swing, low up break below does not break back above and then what happens? We go down. We bounce we go down so lower low, lower high lower low until we get back above this level. We are in a little short short-term downtrend consolidation move all right.

So that's what we're doing we're basically fighting this current little price action trend and when we do break above and if we should then be targeting 404.50 to 405. Okay and that's really the way the market sits for the day. I would be very surprised if we get a ton of awesome movement for the remainder of the day. Anything can happen so in the event the worst case scenario happens and somehow the market falls apart, which i highly doubt happens.

You could see markets again still the 474 473, because that's where our downward trends exist at but again i myself still think the market's bullish and we should be watching it up for the time being. So that's pretty much the market update for you guys and everybody have a good rest of your day and take care.