What's going on guys welcome back to the channel, we are going to go over the qqq or the nasdaq here and really just try to get you guys set up for the week ahead. Maybe even get myself a little bit more prepared for the week ahead. Talk about the things that we could expect to see some possibilities, some outcomes and some things that may or may not happen. You guys know the deal, pay specific attention to everything i say in this video, because if you do, you will not be confused at all.

So, to start just so, you know this trend line right here. This was the recommendation in terms of where you would see the market sell down. To start the day, we didn't recommend that you watch this for a bounce, even though that's just always suggested what we said this morning was to see if you got selling volume to go below this level. Since you didn't, then obviously it's a long play, so our recommended downside target was that white line for the day, that's exactly where the market bottom.

We then pretty much went long all day. So now what you're seeing is pretty much a double bottom. Okay. So now you have a big double bottom, okay and you're right here.

So as soon as you kind of clear this high, you will then go back to 400. Okay, so there's a good chance. We could see, like maybe 400 on our next trading session, but the reality of the situation is when you look at say, like a 5-day 15-minute chart, there really isn't a whole lot of anything once you clear through 400., so once you clear through 400, we're probably Gon na have a straight zoomer right back to 404, so the reality of this situation is going forward for the remainder of the week and into next week, you're looking to see if this market effectively double bottoms, breaks through 400 and runs up to 404. So what we could see you know is even a push up to four pull back, create an inverse head and shoulders formation with a double bottom and then move up through 400 and mix zoomer, maybe even all the way back to all-time highs.

So we're talking a big game here, there's a lot of what-ifs this and or that, but again the reality of this situation is just that. When we look at the one-year day chart, we are going to see that on the upside for the nasdaq, we have a statistical level that comes into play well, whatever price. That is when we change to the four hour chart. We also have another statistical level pretty much wherever this is so.

The way that we read this is on the way back up. Our target long would be that white line to this white line. If we look at the pricing of those two lines, you will see that it starts at 402 and goes just to over 404, which, if you look at like a 10 day 30 minute, you will see that that lines up these two lines line up with what? Oh you've got it. They line up with this high.

That's set up right there, so that is why we're recommending, if we break 400, we're going to zoom straight up to minimum 402 50s wherever that line is on that day and then, if we break that we'll push to this one so pretty much next week, just Look for sort of an inverse head and shoulders a pass through 400 with confirming by volume. So if we're breaking 400, you want to see it with significant buy volume. What is significant, buying volume watch a bunch of youtube videos, you'll figure it out. If you don't know what that is, it could be a little tricky, but at the end of the day, it's just a bunch of buying volume going through the level, and if you can figure out that that's the true break with buying volume, then you will see Qqq, probably zoom up to 402 403, then 404, etc, etc, etc, and the concept as to why it can zoom is because, when you look left, i mean there really isn't much uh stair stepping action in that down, move it's just pretty much straight down.

So, on the way back up, there's really nothing to stop it until you get to this high that high lines up with what the top deviation. So, ladies and gentlemen, uh we will be watching the nasdaq more bullish going into next week, um, ultimately, looking for a double bottom 50 moving average push through 400 popper, magoo ripper dipper all the way up into the 402's 404s, and that's really all we have for You guys today, alright guys take care see in the next one.