What's going on guys welcome back to the channel appreciate you guys tuning in with me today, uh happy monday. Hopefully, everybody had a good weekend uh, so we're gon na get ready to cover the market and some backstory. Last week. Many of you guys know we had mentioned the spy going to prices of pretty much anywhere from 390 to 400.

More specifically, we talked about 393 in 395 to 400. um. We've hit 393 this morning. Well, 392.94.

So anyways the market is moving kind of how we had expected uh towards the upside. So that's good! That's good news all right! So before we get going further. First, i'm going to pull this down. So this is that um, just simple sma kind of chart.

I uh talked to you guys about so, if you do remember not that you have to back on this day when we had the gaff down day here. This is when i started to get more on the long side watching the markets uh bullish, because on this day, when we gapped down, we had on that day, it was kind of my expectation we would get to the 364 price, which is where i had expected. We would also have a bottom in the market how big or you know how small you know hard to say but did expect. We would have some sort of bullish move out of this price point in the market and since then, we've had a pretty good rally.

All right, so i started watching markets kind of being optimistic on the long here and then two days to come. We have a gap up right so that gap up um pushes the market up that created the bullish cross. So from this point forward i was swing long kind of watching dips, up, etcetera, etcetera. So you can see.

Market is over the 50 sma with 50 sma and basically, we channel sideways and we break out all right so um until this blue is down below this red. We wouldn't be swinging short, okay, um, so for now we're still on the long side. Now it doesn't mean we can't see pullbacks in between, but for the time being, we're we're still on the long side. Okay, so looking at both charts here, nasdaq uh in the spy um, we have a lot to cover.

So i'm going to try to try to get this all across as quickly as i can so um, let's go for it. What we're going to do is we're going to go into a full screen chart here on the nasdaq all right and actually, i think, i'm going to bring up the spy next to it as well. So we won't do a big full screen, but we'll put these two up here, like this all right last week, for those of you that tune in regularly you'll. Remember that video from last week, where i talked about the long term, mean being below the mean, etc, etc, and then talking about how i expected the market would probably rally into the negative one deviation structure, which right now is priced from 395.43 up to the price Of 401.25 - and i thought we might hesitate around here because that's where the mean or the six month mean is located anyways looking over at the chart here um, i think today it's really important to watch the nasdaq closely.

I and the reason why is because, based on the way that the nasdaq is structured, we are on the six month mean for the nasdaq today, all right. So if you look at the spy the six month, statistical mean is right here: okay and if you look at the nasdaq, obviously we just did that, but it's right there, so you know i probably couldn't emphasize enough uh the importance of the mean just in this Little video but the mean that white line it's a it's an important line in the sense that um, if you considered this entire uh deviation system, you're looking at to be like a football field, um right. This is the midway point. So within this downtrending motion, then the nasdaq has made it back in in a way to kind of, like the 50 yard marker close to the halfway point, so a lot of times, whether it be a penny stock, large cap, mid cap, spy, etc.

When we get across up and above a mean a lot of times, we can see an explosive move so not that it's going to get really explosive. The point being is that, if, if we're gon na continue seeing today's market rally up um, i think it's extremely important to watch uh the nasdaq closely, because today's market rally or the next market push if you may could very well be determined by this uh. The nasdaq getting over its long-term mean, which is a price of right now, 297.95. As you can see, it stair steps down almost every day, so this could recalibrate into the open and we might be above it and then it's a matter of whether or not we hold it anyway, so we're kind of in an interesting area.

So i really think if, if we can clear that 297.95 price, whether it be today next couple days, that's where we might kick start that that newer market push all right now going to go into uh five day. One minute charts for both the spy in the nasdaq here, all right, so looking at just five day, one minute charts here we did get two down um two kind of down wicks here, mother candles ghost wicks this morning on the nasdaq. So arguably that could be an intraday price target that the markets will try to sell down to uh today doesn't have to be today but could happen so for one. If the market doesn't rally today and we end up going through um a downward move, then you would you would consider this 290 450 293 areas as like um.

You know a target on the way down and then kind of probably expect some sort of attempt of a bounce from this price of two. Ninety four fifties to like 293.96, so that would be kind of your, maybe bottom bounce dip by area on the day. Um, you could very well see just a quick morning flush that then gets picked up into more of a rally later in the day, but i think the bottom line is for the day. Currently um.

You have ghost wicks down here right. So if market dips, you just expect that that's probably the dip down location on the day. If you were to break through that, then we're probably not going to get a big rally for the day. But if the market stayed above, this there's still potential for a route.

All right markets go long markets push well for one depending on how this all opens up will be another thing, but your your first target up, ideally is going to be back to that long-term six-month trend, which is at 297.95. So you would be targeting back to this high and in the event the nasdaq is strong enough to cross its six-month mean that's when we would discuss the spy running on the day to the first target of 395.. So it's really nasdaq breaks over that successfully. Then we could see the nat or the spy run all the way up to like 395.43 and then once you get acceptance over 395.43, then that's when we talk about 55s, etcetera, etcetera, etcetera.

So still on the long side, because the blue moving average is not below the red, so i cannot be swing short right, so can't be swing short because blue's not below the red. So right now we're swing long, just because we're swing long does not mean that the market can't see dips. So if today we don't run or we do a bearish move and then we run, but as regardless. If there is a bearish move in today's market, i don't really see the nasdaq falling below 293.96.

Maybe it falls there. Does a small bounce hesitates there for the day, but i think that your 293 96 is probably your downward destination. If there is one for the day - and i think your first upside destination, if you're talking nasdaq, it's going to be 297.95, if that can clear, then you look to 395.43 on the spy and if all of that happens, that's already going to be a good day Max targets on the day would be 400, don't see markets over 400, probably not even over 398.55, and to me i think, 395.40 right in that area would be a good top for the day and kind of hesitate in that zone. But we'll see so that's today's video hope hope that helps hope.

You guys learn a little bit and uh helps you and helps guide you through the day correctly. So i will catch you guys in the next video everybody take care and have a great rest of your week. Happy monday.