's going on guys welcome back to the channel. I appreciate you guys tuning in in with me today uh making this video a little earlier than i normally would i'm going to keep you guys here just a little longer than i probably normally would so today we're going to run across the spy. The nasdaq. We're going to take a look at a couple stocks like nvidia google amd some of the bigger name stocks you know per the usual uh we'll pop on take a look at bitcoin and ethereum gold and silver um.

So we're gonna take a look collectively at pretty much everything here um. So first we're gonna go through the market to get you up to speed on that and then we'll tie that into say the rest of it all right so let's get jamming on this so first chart. We're going to start with this guy here. I'm going to go full screen with this so.

If i do that i should bring this down. A little more and go like oh bam. All right so we're going to start here with this chart for those of you that watch the channel. You guys are well aware of this so we're not going to do the whole thing.

We normally do but uh so you guys are aware right blue up over red. Bullish blue below red bearish alright so it was friday of last week pre market that i mentioned we should start watching the market long by us all right so from a week back. We said. Watch the markets bearish here all right and on this day here.

We said still watch the markets bearish. But they're oversold and there's a good chance. We can still bounce okay and we won't flip back to long by so on this day. Right.

The recommendation was watch bearish simultaneously. We're oversold so there's probably going to be a bounce and then we will flip back to bullish once we get the blue to cross the red. So going into this trading day session pre market before the open all right said probably start watching the market more long bias. Because we're going to open with a gap today and that gap up is probably going to create the bullish cross so even though we haven't gotten it yet the gap up is probably going to create it so therefore don't be excuse me don't be bearish on this day start.

Watching the markets. More long bias. Okay so um. So we got the bulls cross on friday.

So for you as a trader and when i say you as a trader. I mean short term trading right so so if we look at this right from this cross. We go up one two and then a sideways trade day. All right and then it gaps down and then trends down so within right so by the time you get a signal to buy you have this day.

Then you have the next day up and then the next year's a couple moves up with some moves lower. And the following day is a gap down so from here to cross one two days of upwards movement. You could profit on that right on this day. We get across so you have one two three days down four days down right gap down buy up gap down buy up so that four day trend.

All right so here you got the cross on friday. So we have one straight day like this so one day. We gapped up today. So we're gonna be up like here.

So that's two days since that cross up. So how long the trend continues. We'll see um. But anyway so the bottom line is we're not bearish right now we're more on the long side because we have the bullish cross and so on so forth so until we get a bearish one we're not going to be uh back to to watching the markets bearish within the short term uh trading.

I guess you could say view all right now that we've covered which bias. We are right so that's the bias. Which side of the trend are we on we're not bearish. So we're more long biased.

Okay. So now that we're long biased and we know that it doesn't mean that things can't have pullbacks or there can't be a bearish pullback right so even though we want it to go up and we're bullish doesn't mean that obviously things can pull back so in the event that the market is going to have a pullback. But it's going to stay bullish right so so talking in that that perspective so right now uh let's look at a we'll do a 10 day 30 minute chart that that should be that should be good. It's all right now actually i'm gonna go back to this um.

I'll go this four hour chart really quickly. I like this better all right so looking at this four hour chart. All right um. You know why you kind of gapped up and ran.

Today. So so watch this all right so looking at this screen. Here just look at this trend line right. So this trend line here all right then it's here market stops market stops.

So that was resistance resistance and then uh friday into this morning pre market. We get to that level again and we break it and the market pops and it runs right so when we go look at like a five day one minute chart or a one minute chart or something like that you'll see that that level right there ends up being the exact breakout. But point of this being is since the market has cleared this line. We're starting to have the possibility of doing a long term mean move.

This is the mean right here okay. So we're starting to form a flag pattern. Now all right so you do have a flag pattern look and feel all right and that flag pattern resistance is created right so right flag patterns have down trend lines like that right you always kind of connect the lines across the top so for traders right they don't know a pattern's happening or until like they can visualize a pattern and then they'll draw a trend line down connect the dots right except the difference is is the statistical probabilities are generally what's going to create that trend for you so where you would draw your flag pattern across the tops of all the resistance like that and then say once the trend line breaks that would be my long you can see when this market ran up it ran to the yellow found resistance because the lines were there then it went down bounced stopped here because the line was here. It was no longer up here.

So the market didn't run to 394 right. It ran to right here 390 creating that downtrend okay and then the line was no longer at 390. It was at 386 right. Which is down to there so the market moves lower so then you can draw a trend line across and you'll realize that e whether or not you're using a statistical deviation or if you drew your own trend line.

You'll realize if you were to draw your trend line that breakout comes at the same spot of where that statistical deviation is so many times uh. You won't really see me talk about patterns or draw patterns on a chart. Because i don't necessarily like look at it like that right because i just kind of showed you like that flag pattern break right if you draw your trend line look at where the snap's at it's right at that line right so so i already know where a key break point is at without even having to draw a line because the computerized equation basically states it for me um. So we do have that of a flag pattern okay.

It is uh. It's right there. So you got that of a flag pattern all right so looking at this true breakout. Look something like that and um.

So i think it's possible you're going to see the markets to 405 400. Um 406 potentially with this flag pattern move so as long as we don't have a bearish cross. We'll trade on the upside with the markets. Potentially going all the way back to uh excuse.

Me with the markets. Potentially going all the way back to like 405. Which would be a mean reversion trade all right and so i want to show you the nasdaq really quickly so. Let me pull this one up all right so looking at the nasdaq.

You can see um based on this view. The nasdaq doesn't have resistance nor does a spy. Really i just want to double check that though so this is what i mean by that is a lot of people are going to be looking at the cues. And going okay so this is resistance and if we can break out over that that's good.

Which that is correct thinking right. This was resistance because at some point in the past. There was a statistical deviation right there actually there was one on the spy. But i don't want to complicate you guys.

But anyway so the pass this was resistance this was resistance blah blah. The only difference is when you're looking at it here you see there is no statistical probability. Here. There is no statistical probability.

No statistical probability. All right the statistical probability is here so for me um. On the nasdaq. I'm not going to treat that as resistance because there isn't a statistical probability therefore.

I am much more biased on the idea that it's going to break that and it's going to run to 303. So the same thing that i told you on the spy here. Which is there's a mean reversion trade potentially going on and the mean reversion trade would take the spy back to 405 is the same thing with the nasdaq. The only difference is with the way.

The nasdaq trend is the um. The mean reversion trade. Here would be back to 303. So um.

Ideally you won't see the spy. Go to 405 first you would see the nasdaq achieved the price of 303 first so and then there's a good chance you could find a resistance. There so i think going forward right the simplest thing. I could say to you guys is right this whatever this little setup here is in the event.

This market takes out the resistance. You should just expect that the nasdaq's going to break out and run to about 303 area okay so going into a five day five minutes uh charting scale with uh. The nasdaq this will bring a little bit more to the picture and actually i'm gonna change it to a 20 day one hour now all right so looking at this 20 day one hour. All right so this was a trend up all right and then it pulls back and you can you can see it just holds all these trend lines right here all right.

And if you want to draw a price action trend line sure so you can see we break that runs all the way to where the next trend. This is the six month trend. Okay that's it all right so so there is a reason for the market to hesitate here today and that's because of the six month trend. But bottom line.

If this market does not find resistance on the nasdaq at 295. Which is a six month trend. Which i don't think it does you will see a breakout and you'll see the markets on the nasdaq run to 303 to 305 and that could very well happen today. But i'd expect that happens pretty pretty pretty soon all right so we've covered the nasdaq uh.

We've covered the spy. We haven't really taken a look at the spy in a more in depth chart. So we're gonna do that now right. But but this is what i mean um let me let me try to make this um somewhat as clear.

As i can okay so look back here all right so this is kind of it's not perfect. But it will help to get get a point across. Which is when the market is moving through um. A congestion zone of lines.

That's where you see more like choppy trading. So when i say congestion zone of lines. Look at all the lines here. So you have this one here you have that line you have this line that line this line my line so from like here to there there's like now let's call like five five six lines right so look at the trading act right so like up then we're down and then we break over it we find resistance on this one we pull back we find support here we push up we find resistance there we pull back we find support we have resistance then we finally break that one go to the next one and then we break that one and there's no more above us.

We run straight to the six month through the six months to the next congestion zone. So generally your really easy trend days. Where the big trending kind of flowing move. Happens normally happens when you find the price action of the market entering into an open space zone.

As opposed to coming in and through a congestion zone. So um with the way the deviation structure is set up this is currently the open zone in between the green and the yellow. All right the next open zone is from the yellows to the whites. So this is a negative one and that would be a mean reversion.

So you can see the market is entered into an open space on the spine. We are no longer in a congestion zone in the open space zone on the spy goes from about 388. All the way to 402 so 388 402 times. 14 max.

So that would be a 408 402. 14. That would be six. So you have anywhere from let's call it a 14 to an 18 uh swing long move maybe coming up on the spot.

But remember 14 18 point swing long's awesome. But before that can be achieved. Remember you still have the nasdaq chart. Which is a mean reversion up to 303 so from 295 to 303 is eight.

So you got about an eight point swing move that's a higher probable outcome than a 14 to 18 swing move on the spy um. So if you were to say what's going to happen. In the next three days dollar move or a 14 to 18 eight dollar remove is more likely to happen so i'm telling you 14 to 18 can happen. But you should gauge within the shorter time frame only up to eight until you see the nasdaq break that zone kind of like this kind of like cruise through that zone.

And then you should say okay now it looks like the spy is attacking its level. So to say all right so gonna go back to a four hour chart zoom out a little bit then we're gonna go through other stocks gold silver. All that good stuff really quickly and i'm gonna take up too much your time. And i will make that quicker all right so taking a look at the market market is down.

We're kind of going through the sideways. Little channel. Thingy looking like we're going to pop up go long all right so ultimately you're kind of seeing a flag pattern down here. Some sort of thing like that all right now.

Let's take that across to apple aapl right so going over to apple right you can kind of see apple's leading the way a little bit. But very similar. But what i want you to pay attention is look at where apple's heading the mean reversion right so if you look at the spy. Where is the spy kind of moving towards.

What's the next target up the mean reversion aapl. What's next up. It would be a mean reversion trade. If you look at tesla tesla.

Again kind of sitting down. Here. Doing what looks like a flag pattern. Thing right so.

If this were to break out and trend out right next thing is the mean all right so right now you're in a situation. Where the market's coming off a low it's coming off that bottom it's trying to pop up. And if we do see the markets break out a little bit over this next week. Or so um.

Then it's the expectation that markets and stocks would be moving back towards their mean pricing all right so that's kind of what we're looking at for over this next week. Or so is do the markets continue staying on the long side and trending out more towards a mean reversion play. Which also takes stocks back closer to their mean. Reversion prices all right now.

I'm going to go to bitcoin all right so bitcoin pretty much went down to this eighteen thousand mark. It's a negative one zone. Um. And you can even see here very common to the market in the sense that right now we're trading negative one a bounce back would probably be a mean reversion trade.

So let's just say that for the bitcoin market. There's a slight glimpse of hope with a long move if it breaks up it would go to 27 000. Which is the mean reversion and then it would probably sell down again. So for the time being the bitcoin market still making lower lows still making lower highs.

So until it starts kind of reversing that trend a bit it's probably going to stay down. But like i was saying a second ago too if the spy does do a mean reversion you're gonna see um bitcoin head a little closer to 27 000. Price. But for now um on an intraday scale.

Bitcoin uh bitcoin. The last breakout. It just had was at 22 000. That means.

The price is gonna sell back down to that price point um. Everybody that's watching the market here this is not support right so like when you're looking at a chart. And you go oh. We're bouncing here.

So is this support that's not support those like 10 times out of 10 get taken out to retest the previous deviation break. So this was a deviation break of the six month trend at twenty thousand twenty two thousand seventy two right so the immediate thing. That's going to happen as soon as this support line's broken as the algorithms are normally going to swoop this market down to retest that level and generally speaking. It's anybody who kind of got long into here or decides to start selling here the volume.

It's your volume that the market makers then use to um. Decrease. The price down to the next statistical probability. So.

A couple seconds. Here maybe. Next couple candles. You should.

See the price basically go to there and wick it down. It probably makes sense so we'll take a look at gold. We'll come back to that see if it happens all right. So gold um.

You've kind of seen. It bouncing a little bit. So if you ask me this is an interesting moment for gold because it is coming into a bounce spot. But it doesn't really look like it's going to bounce.

So generally we would look for long bias trades here on gold so i'm not going to not going to be extremely bearish on gold here. I actually think it's time to start. Watching gold long for a bounce. You're down into the negative three zone so pretty much with gold right now.

I would probably look to be long gold even all the way down to the 150s and if it really started maintaining below 150. That's where you'd have a problem. But for now. I think you could size in a little bit of gold and even down to the 150s and you'll be you'll probably catch a little bit of a bounce.

Especially yeah. Yeah i think you'd be fine so same thing's probably going on with silver yeah. Silver. You should probably kind of be watching for long bias bounces on silver down the negative three zone area so gold silver is probably getting close ready for a bounce forward cl.

Going into the oil market oil just went to negative three so that's why it's bouncing so with oil um. If oil can clear over the 98 level. Then you can get a pop. Otherwise.

The bears are going to control it under 98 push it back down towards the 89. But uh yeah. That's probably not going to happen you're probably going to get a a pretty decent bouncer on oil. I would say yeah probably yeah.

So let's go back take a little quick look at bitcoin um. But overall consensus for right now is you're going to stay long by us. The market all right all right so we haven't gone there exactly. But wouldn't surprise you if we do very shortly.

So anyways that's today's video hope you guys learned something new and i'll catch you guys on the next one.