Hey hey: what's up my friends so in this video i want to share with you my take on the stock markets right now. So, as you can see right, this is the chart of the s p. 500. Over the last few days, we have a decline in price from this highs and then it started to grind lower at this point over here.

So some traders are wondering man right now. Is this a pullback, or is this a full-blown reversal? So to answer that question, we need to take a step back and look at this chart from a big picture perspective. So from what i'm seeing over here since last year march april period. We had this lows around the 2200 price point and then it had.

It has made, you know consistent gains right over the last few months, maybe even a year or so. So what you can see over here is that the stock market is still in a long-term uptrend. You can see the series of higher lows higher highs and higher lows right, higher lows, higher lows, higher lows, higher lows, higher lows, higher lows. So at this point right, this seems to be more of a pullback to me and if you just measured from this highs right down to this low, this pullback is possibly around.

You know around four to five percent, so i wouldn't be too concerned about this, because this to me right looks like a uptrend that is still intact and the key level that you might want to pay attention to is about here around the 30 32 300 area. Okay, somewhere about here, let me just highlight this okay, so this if the price can break and close below right below it, that's where i might achieve from you know polish to neutral in the stock market, but as of right now, i'm still bullish. So now this brings us to the question: where are some opportunities in the stock market right now? So let me share with you a couple of trading setups that are worth watching. First, one is futu.

This is an online brokerage firm catered mainly to the hong kong and the chinese market. So you can look at this stock right. You can see that it's in a very strong uptrend, consistently above the 20-day moving average. So as of right now, price has made a pullback almost reaching the 20-day moving average, but not quite so.

What i'm looking for is a bullish trend, continuation, trade - i know some of you might be thinking but rain and the stock is already so high. You know, are you sure, you're going to buy this high price? So remember this lesson: in trading: what's high can go higher and likewise what is low can go low lower, so a stock right is never too high to buy, but of course you must have a valid trading setup to buy. I don't just want to blindly buy right, so here's the setup that i'm looking for on future. So as of right now, i'm waiting for the price to re-test the 20-day moving average to just bounce and re-test a 20-day moving average or in other words, i'm waiting for the 20-day moving average to catch up with the price.

However, you want to, you know, look at it so waiting for the 20-day moving average to catch up with the price, and then what i want to see is volatility contraction right over the next. You know five to ten days on this stock, so the market could bounce up higher, consolidate down, pull back, make another move higher, pull back and start to consolidate right, forming a tight consolidation. So this might look something like for those of you who are familiar with chart patterns. It might look something like a ascending triangle, something like this right, higher lows into this resistance.

So when i see this right, what i'll be looking to do is to buy if the price can breaks out of resistance to go along on photo? If you know this uh, this trading setup unfold, okay, so that is the first setup that i want to share with you future. I'm looking for the market to consolidate, to tighten up to wait for the 20-day moving average to catch up with the price once it has tightened up right, i'm looking to buy the breakup of the highs as simple as that and as for stop-loss right there numerous Ways you can go about it, you can use a percentage, trailing stop loss. You can use a chandelier crawl. Trailing stop loss like what i have over here.

This is a chandelier crosstalk 680r from the high. So from this highs to this blue line is six times the average to range. That is another trailing stop loss that you can consider. So this is the first set up to share with you.

The second one to share with you. Is this one here cloudflare? So this is an internet company. So, basically you know websites around the world. They they need security right.

They need uh what content delivery network. So if that sounds technical to you never mind so this this company, what it does is basically to help support right. The internet, the websites out there so cloudflare - you can see that this stock again looking in a nice healthy uptrend so again over here, you can see that the price has retest this area of support it tested once twice and today it re-tests below the lows and Close higher for the day, so this is a this to me - is a valid trading setup to go long. So what i'll be looking to do is to buy again on the next candle open? You can have your stop loss again, one atr below this lows or you can use this chandelier crosstalk and in this case right, your stop.

Stop-Loss will go below this blue line over here. Okay, so let's say you enter on next day: open stop-loss is somewhere about here. What about target so the first possible target that you can consider is around the 92 dollar price point before this swing highway and look to consider taking partial profits. Let's say you take, let's say you buy 100 shares.

For example, you can exit 50 shares at 92 and the remaining 50 shares you can. You know write the position using possibly the chandelier crosstalk, which is this blue line over here, and to write the trend right for as long as you know, it can continue higher until it breaks and close below this. Let's say the price. It goes up higher.

This blue line continues higher okay and you exit the trade only when the price breaks and close below this blue line over here. So, in a way, you're capturing one swing on 50 shares and the other 50 shares you can use it to write the trend till you know it shows signs of weakness, so these are a couple of stocks, i'm looking at right now and by the way. This is not buy or sell recommendations. This is just my take on the markets.

It's only for educational purposes, and if you want to expand your trading knowledge, your trading education, then i have also actually a two day free online trading event. It's called profitable trading secrets. Cheesy, i know but hey you know, this is the name of the event you can go down to my website trading with reno.com webinar and just to walk you through. What's going to happen on this, today's first day we'll talk about the five trading habits that keeps most traders poor, and you know how to avoid it.

We talk about sniper trading entries that you can use right to time the markets, simple price action trading strategy that works, a ton of trading, chart examples and much more second day. We will talk about you know, beating the stock markets, how to do it consistently profitably? Even if you have tried everything else in failed how to steal hedge funds winning strategies, my top four trading tools, that will save you a ton of time and money and a complete stock trend following system that works and much more so again, this is a free Two-Day online event, if you can't make it you can still sign up for it and i'll send you a copy of the recording. So what you need to do is right now just go to the website. Click on this green button.

I have numerous green button on the page, you'll be brought to this zoom webinar page put in your details, email email address and i will send you the webinar link right to attend on the day itself. So it's a special, unique link that will be sent to you, so you can attend the webinar on the day itself. So it's on the 27th and 28th of february. It's free and i'll put the link below this video.

I wish you good luck. Good trading! I will talk to you soon.