's going on guys welcome back to the channel. I appreciate you guys tuning in in with me today hopefully you guys had a good day yesterday. All said and yesterday was a green day in the market. I'm expecting another green day in the market today.

We're going to talk a little bit about that so when i look at uh this chart here. You can see i have the word target on there. But you can disregard that for the time being so let me take that off i'm going to change this to um 10. To 30 minutes.

Okay so yesterday and in yesterday's video. We recommended that you primarily watch the market long bias watch for dip buys. But ultimately just pretty much watch the market long bias and uh the main premise for that was yesterday. We had gotten our bullish cross so going into the open.

We finally got that bullish cross so the blue moving average crossed the red yesterday all right so that shifts the momentum onto the buy side more on the long side now. It never guarantees that there's going to be a gigantic move or that the move is going to happen right away um. But usually once you have these two moving averages cross you're going to want to shift your bias to being on the long side until obviously. This is back down below the rep.

Okay so since the blue is over the red do we have a bullish cross. We're going to watch long bias as we were yesterday okay so now that we are kind of aware that yesterday. We got the bullish cross you can see we started with kind of a down dip and then we ramp up and actually if we bring this chart back down. Though.

It wasn't perfect um. You can see the the morning opens and all we did was pretty much pull back all morning until we got to that nine moving average. We broke it a bit. But ultimately we kind of just traded back down into that nine or sorry.

10 symbol moving average uh area then kind of came back up and that's we got the pop. So you know no it wasn't perfect you pretty much just said we pulled back to the 10 sma well held right in that zone and grind it out okay so going back to chart below. We know that yesterday we got the cross it looks bullish all right so now let's let's take a look at uh 188 chart. Because a lot of things are changing here to a degree all right so we're going to look at this this time frame here and i'm gonna try to make this simple.

But pretty much this was the last bounce the last bounce took us to the negative. One weekly. Which was here and then we had resistance okay and now we're back at the negative. One weekly here okay and we've just gotten over that so this is no longer resistance theoretically.

Which also provides us the opportunity to run to the next one. So. I think today. We could actually be seeing a pretty decent breakout.

Um. And if we do we could very. Well. See prices of 389 to 390 today on the spy and arguably like 294s to 296s on the nasdaq um.

But whether whether or not it does or doesn't happens another story. But going into this five day one minute chart now let's do a five day five minute all right so if i do five minute chart. The spy and i'm actually going to take off some of the stuff here i know it's probably confusing some of you guys just a lot going on make a little more clean all right so pretty much. This is the concept all right yesterday.

We held we got the blue uh. The bullish cross. We've gotten over the negative. One weekly here so on today's movement.

If the market can sustain this 380 19. Or pretty much just call. It the it's not even the pre mark below to be. Honest it's it's 38419.

Right in that area if we can hold above that that could very well confirm the. Negative one weekly. Breakout which is right here and then push into 38960s. Today.

It's it's a possibility this might update and bring us down closer to 389 to 388 arguably. But we'll see so that's one thing is does the market start to gain acceptance above this kind of 384 level. If it does it opens the door for 389. Okay now when we go into uh.

I want to take a look at the nasdaq here so nasdaq chart here on the right um. This is something we talked about uh. The other week when we were like right here before we sold off again. We talked about the importance of the nasdaq getting up and above the six month.

Mean that would be good you will see today. We are over the six month meme all right so last time the market had bounced and we had gotten towards this uh excuse me the six month mean we uh we didn't get over we did we bumped our head right on it and got yanked down this time around the market has exceeded the mean. Which can be a good sign. So for now you know i i think you would say ultimately over today next couple.

Days we want to see the nasdaq maintain over 28871. And the spy maintain over its 384 ultimately that could uh. Very be very well be what gives us our momentum to continue pushing uh on this move so pretty much still long bias. Still watching dip.

Still long biased. The market off this move and the reason being is because we have the bullish cross from yesterday so until the blue is down below the red. I won't shift back to swing short or really much bearish um. And i'll be watching things upwards so uh.

Watching things long bias. And um. That was a wick. Okay yeah.

Watching things long by it as long as we can maintain statistical deviations that we have recently broken that's a good sign okay. What would make me start to change bias. Even if we didn't have the bullish or bearish cross in the moving averages. It would be does the nasdaq start getting below.

Say like 288 and rolling over below that and does the spy start to maintain below this if they're maintaining below. Then the long move in the immediate won't really play. But if they're holding above in the immediate then that means the long play. And the immediate can play quicker at least.

Okay. So um pretty much that's that's all i'm watching for right now. Just keeping eyes on things long bias and and that's it all right guys take care have a good day and i'll see you on the next video.