What's going on guys good morning, thanks again for tuning in we're only going to be looking at the long-term levels of the spy in the nasdaq going forward, we're not going to really dive into the granular view anymore, there's just too much going on, and it makes The video slightly confusing, probably for some, so we're just going to look at the long term levels, try to keep things really simple all right, so we look at the nasdaq. This is the nasdaq. Your resistance is currently nine. Fifty seven, your support is currently three.

Thirty. Nine thirteen until you're below three thirty, nine thirteen - you don't have a break down and until you're above three, forty nine, fifty seven, you don't have a break up now. If we looked at the more granular view, we could find other levels that would cause breakouts and breakups in between these two levels, but if we're just talking about the longer term levels, that's where your breakdown, your breakdown, are at. So, for the time being, you could see the markets trade in between them for as long as the markets really want and not break out, not break down, but once you get a break down below or break up above, that's where a bigger trending move would uh Would normally take place, okay, so for now again nasdaq resistance, 349.57, nasdaq support 339.13, all right, looking at the spy disregard level in the middle for right now, for now we're just looking at the price of 44403 and the price down here of 4370a 43708.

Is your support for the spy 44403? Is your support for the nasdaq? Now, when we think about it, we've already tested support once twice on the downside and we've tested resistance once twice on the upside. The more touches of a certain level does not make it stronger. The more touches of a certain level provides a more likely event that we're going to go through it. Okay, so we've already been trading on the downside and the upside, and you can see, bears, are pushing it down.

Bulls are pushing it up, so we're going into this slight little kind of back and forth couple day, rally couple day, bear pull on the markets and it's creating some slight confusion, all right. So for now, that's really just it! When you look at the spy, you will see now this level in the middle this level in the middle is your short term. I don't say short term, but no, no real other way of explaining it, but this level in the middle right now is kind of like the 50 yard marker between this one and this one and whoever has control above this one will try to press the market To the next level above and whoever has control below it, which would be the bears, obviously are going to press the market down to this one. So this is sort of the midway point.

Slash um pivot, if you may, and it's whomever is staying above and below, has control for the time being. So, on the bull side, you want to see the market stay over four four one, six, eight! If you're a bear, you want to get this back down below, holding below and pushing back in that direction, all right. So now that we've covered that i just want to kind of pop around to a couple other interesting things in the market: we're going to take a look, quick look at oil, so we've talked about oil many times we talked about in the past. I know there's a lot of lines on here and for some it might look ugly and confusing, but anyways this is overbought.

This is the long-term average, so oils made it back to the long-term average of 97. So for right now the average per share for oil is about 97, all right, so um, gold or sorry oil is not overbought. Oil is not oversold. Based on the yearly calculation.

We were at a completely fair value: pricing on oil, all right, maybe not to the consumer, but in terms of the auction-based market. We are all right now we're going to go look at gold, so gold is not a fair value. Gold is slightly overbought. Gold is of a higher value right now.

The long term average for gold is currently uh about 1900. An ounce we're now trading in the 2 000 uh dollar ounce range hit a high of 2078 dollars an ounce, so nonetheless, gold is slightly overvalued. Uh off the yearly trend and when i say overvalued, i really don't think it's over value, but in terms of auction based pricing and trading and fluctuation on the market based on statistical property, it's slightly overvalued so nonetheless, this could be a situation where you see gold Run all the way back retest the 2 000 high. That would be pretty cool, which, from that point, would create a slight double top and a pullback.

They would most likely run it into a short-term cup and handle pattern um. So this is something that you could very well see over next month. Couple months, maybe we get gold back up like this. Do a double top cup and handle pattern.

That's a lot to fertel but very possible, so anyways gold is uh doing well, it's trending! Well, if you were to look at a 20-year chart, you will also see a big cup and handle pattern on a 20-year. It's already happened, so this would be your cup handle. So right now there's a lot of people looking at 20 year weekly cup and handle pattern sample breakout so on so forth. Um.

I actually remember when i was talking about gold going on a bull run back like here, so this is actually when i first loaded up on like golds and silvers um was back. There sold a lot through this rally and dip bought some more into here here, but doesn't really matter um, so anyways right now: gold, silver uh, looking pretty decent um oil, fair, valued market, meh um, that's pretty much the morning run down for you guys hope you Guys enjoy it and i'll catch you guys in the next one. Everybody take care, and oh something i used to do in the past - was kind of run through the popular penny stocks for the day um afterwards. So i might get back to doing some penny stock stuff have really decided, but anyways.

You guys have a great rest today and i'll catch you in the next one.