Good morning, ladies and gentlemen, last night i made that video, it's a big analysis on the market. I highly suggest you go and watch that today we're going to be jumping in and in this video looking at the spy and looking at the qqq, and i'm pretty much going to go through this pretty fast, because we just don't have all that much time. You guys don't have that much time. You need a quick video, that's everything! You need right to the point, so we're gon na get into that! That's why you need to watch that video too, because we're not going to touch on everything so pretty much just know.

Last night we talked about this big white line and said this is the weekly line. This is the weekly line and if we go through this with selling pressure watch out below guess what did we go through it with selling pressure? No, it sustained from yesterday and we've gapped up into this morning. Now, if we look at the trend of the market, this is a one-hour chart. You don't have to use a one-hour chart.

I'm just happen to be on a one hour chart, but regardless this time frame right now, you know i can kind of see this trend pretty. Clearly, myself right, we are down lower lows: lower high, lower low, lower high double bottom, not really a new high triple bottom, not really a new high breakdown, so lower low gap up overnight lower high. So this market is still downtrending, as you can see by the moving averages too we've crossed below and it's not above those moving averages. So the moving averages are going that way, so you could either just draw a line right on it and go oh yeah.

There's still lower highs and we're down trending or you could be like a moving average person to go. Oh, we went through the moving averages, the moving averages cost and now we're below these moving averages, which those moving averages are a 50 and a 100. If you're curious, so you don't have to use them, you can use them. I don't care what you do, but i use them.

So that's a 50 to 100, so you could say you're, downtrending, okay, cool, so when we think about the long play right. So when we think about the long play, we are either at this point, counter trend: reverse trading on longs. We are not high or low breakout trading right, because if the market is downtrending downtrending downtrending, then we don't have a higher low and it's going to be hard to be on like a breakup right. So as of right now, you know this is still very early to suggest.

This is a long play in in the sense that we're just going to do immediate breaks. Okay, we are still below some key moving averages. We are still creating lower highs. Now, it's possible.

We create a higher low here. We can do that right. If we create a higher low, then the market will look like well, maybe sort of an inverse head and shoulders that's kind of awkward, but not really. So what i want to do is start zooming in and really taking a peek at some of the stuff here on the qqq and the spy.

So let's go to a one-year day chart all right, so we go to the one-year day chart it. It looks like this, you might be like wow, that that looks disgusting. All right, you go to 180-day chart it. It looks like that and you might be like wow that's kind of disgusting and i actually have to update this one so the way that this market currently sits is you see how i just made that trend line there right you see that trend line right there.

All right, so this is the weekly long-term weekly hold friday gap. Up today, back over the level we were supporting the last week we broke down, hit the weekly gap up just over, so i am going to plot my trend line like this, and when we zoom in on a one minute chart, you will see just that the Market is now above the statistical trend this morning, so the way that we would watch this is the market must maintain above this trend line in the immediate for immediate continuation up. Okay, if the market cannot sustain above this trend line, which is at the price of 393.62, then you will look for the markets to break downward and maybe fill some of that gap. Okay, maybe even retest down to the weekly, so is the way it stands.

The closest statistical deviation that we use off of long-term levels, this right here, price of 393 like 60-ish, okay, that is the closest statistical level located below the current price of the stock. Well, this is an etf, it's a qqq, so closest statistical level located below the current price action support. Okay, this must hold for immediate moves higher. If it retraces here and there's a lot of selling pressure, you will then look for a down move that maybe fills some of that gap.

Okay, now, let's talk about you know, maybe what happens if we hold this level and rip higher? Well, if we do look left, i mean you have a previous top here that hasn't been tested, so i'd. Imagine if this breaks out you know markets are probably going to try to attack that one first, okay, if we look at our long term levels, let's see where our next upside target would be located, so i do not have any upside statistical trending targets all the Way until this price, which is 403 so 403, would be my max upside long target for this day, meaning if somehow this did hold and we ran all the way up. That would be as high as i would expect the qqqs to go today. So what i think we are going to see is maybe a breakdown to retest this level, and if this does not sustain, we will then go further to the downside so for right now just kind of playing it by ear, knowing that the longer term trend, if We look at the four hour: chart is still down trending down lower high down, doesn't break above down, doesn't break above down break down lower high, so we are down trending.

This market must maintain this weekly price. If it does not, that's where a big snap can happen so with the way the market again today is currently situated, we've gapped up we're above a support, so i think markets shift down need to maintain 393.60. If not, they can start filling that gap. A little more and then continuation, if this somehow falls all the way down to this level here, which is like around 390 70s, and you get a lot of selling pressure there.

Then you should really be watching out for the downside. Now, let's look at the spy, so the spy okay, the spy is very similar to that of the cues, but a little different. This spy has already broken down a strong weekly level. Okay.

So when we look at the spy here, the way that the spy is situated is, if we look at say, like a 20 day one hour, it'll be fine, so where the spy is situated, is the spy here broke the weekly so that big trend line that You saw on the qqq chart that big trend line there. They mean the same thing they're just situated differently, because two different, of course etfs a little different. So we broke the big weekly trend on the spy here, um in snap down and so last night. You would have heard me say i believe the market was guaranteed going down to like the levels of 454.60 to 452 and we gapped up overnight.

So obviously that was wrong now, if you just kind of think about it from a bigger picture, you know say: if you're coming from up here down to those dotted white lines right here, then yeah you pretty much did do it. So nonetheless, we have this gap up overnight on the spy all right. So when we look at a one minute chart - and let me just make sure this is all still correct, so we look at the one minute - that's there and you go to the daily okay. So this is all pretty much the same.

So when we look at the spy the way the spy is sitting is spy breaks, a weekly, big sell-off. It went all the way down not entirely but close to its half deviation prices. The qqq stopped on their weekly support and gapped up, so maybe that has something to do with it. But nonetheless, if you think about it, we break the weekly run down gap up overnight into what that trend line, the white one and we're stopping so until the spy actually gets above this trend line the market's, probably not going to be any too more like bullish.

For right now, okay, so you should expect that, since we have gapped up into this trend line, the market will or has been trying to pull back off of it. Okay, so the only way you could really suggest the markets have shifted a lot of momentum, uh to probably start kickstarting, you know back into an uptrend is for one. You would have to clear back up above that trend at about 464 here on the spy okay. So if we were to look at like a 10 day chart that doesn't really work that good, never mind yeah, so i mean, like i said, for the spy to really.

You know garner get some momentum here, uh or more so you would need the markets to get back up and over 464. all right. So the way that i would follow the spy on the long side is if market gets up and over this price of 464, with a lot of buying volume, then we could see maybe your move up to 467 on the time all right now, if the market Or the spy does not get back up and reclaim these prices with good volume, blah blah blah whatever that might be, then, obviously you know you might look for some of that gap to get closed on the downside. Aside from that, you might not even see the spy go up to test this level because we talked about the qqq going down to test it support.

So what? If the queues go down to test its support and then the spy just kind of goes down following sympathy with that, qqq's don't hold that immediate support fall lower than then. What do we have so uh very interesting, dynamic today in the market, so i want to get that video out for you guys, because i don't even know if i'll be able to stream our streams. Just are just who knows so. Anyways uh with that being said, that is uh.

That's pretty much the qqq the spy for you guys this morning cheers.