S p rallies over a critical level NASDAQ closes near a three-week high stocks in the s p on a 200-day basis are 54 percent now dollar implodes fooling everybody vix is in free fall Bitcoin rallies six percent the video closes at all-time highs Tesla rallies but isStill under a very critical spot that we're going to discuss Google's AI conference and what this means for the rest of the week why you need to watch the consumer discretionary names Sox rallies but is still in a bearish position for Semiconductor stocks jolt's job openings misses by a million we'llExplain what this means for the market and what to look for with GDP tomorrow we have a lot to go over let's get to it hey everybody welcome back we have a lot to go over we're gonna jump right into it s p Futures 4506. we went throughThis yesterday and again on Saturday about how this lower low that was here how all the sudden we're starting to hold we're going to drill into this on the hourly but it's important for us to just talk about what we're seeing on The Daily and then maybe even take a quickSnap on the weekly so you can see exactly what happened here but tested this level we wanted to watch this level very clearly unable to break it control bar right here reversal through the control bar what's nice about this is this is a very bearish pattern andUsually this pattern in and of itself we usually don't see this pattern right here we usually don't see down one two three up usually that leads us to some kind of reversal where we come back down and that's not really what happened here so that's definitely something that weShould feel pretty good about I mean I I feel pretty good about it and then of course you have the the retest here after that test held and the fact that you got over this control bar is huge now before we drill into this couple key things that we should be taking awayFrom it number one if we overlay the basic indicators and we look at our moving averages very clearly we could see a couple things we could see the 12 and how we are back above the 12 for two days in a row the 55 22 cross we can seeThat I used a 12 a 55 and a 22 for those that are new here welcome and what we're trying to do here is relatively simple we weren't sure if we were going to get above that we had all these little pieces of convergence right here at this4480 we're going to call it 44.84 it was right around there quite frankly but yet all these pieces of convergence the high of the control bar the 22 the 55 the cross and we just blew through it now the reason we blew through it job openings declined to eight eight threeWe were looking for around nine five nine four six this is a quick article from Bloomberg what's interesting about this is vacancies fell in July for six of the last seven months so job openings are falling quit rates are decreasing there were some telltale signs of thisWe were talking about it earlier today in the pre-market live if you were on there and we talked we've been talking about in the community a lot of people are saying get back to work get work from home starting to end for them to increase that pressure means that theyFeel that they have the ability to increase that pressure right now and this is the lowest since the start of 21 and it is a fact this led to the rally now the reason that this led to the rally is relatively simple we had a strong dollar and now we have a weakDollar versus what's going on and bonds are dropping why because we thought that there might be a couple more rate hikes I'm going to just point this out if we're losing a million job openings a million job openings okay month by month they're not raising rates they've doneTheir job and that's why we went higher today and not only that before we get into it that's why the dollar dropped all day long if you go and take a look at when the dollar actually dropped it's not rocket science here it is at 10O'clock we're going to cover it in a moment here that's the jolts report okay when you start going through this it becomes increasingly clear When we dropped when did the market absolutely fall apart with the vix right at the 10 o'clock joltz number right we went through this and it's really importantTo understand that even if we get into the es now and let's clean this off and just start getting into it if you start taking a look at what happened at 10 o'clock we just exploded why the joltz number if you have a number like that institutional people institutionalTraders no they're not raising rates if they're not raising rates you're going to see this all come in and that's exactly what happened so here's the the 10-year and they're just buying the living heck out of the 10-year take a look at that it doesn't really get anyClearer what they're doing there right they are buying the 10-year treasury you may have a double top we don't know yet but that's a start now tomorrow just to touch base real quick pce prices will give us an indication of what the pce is going to be you already have anIndication the pce coming out the next day on Thursday because of CPI it's usually smoother and lower that's rule of thumb but GDP is tomorrow GDP barring anything will just be in line and I don't really see that that's going to add a tremendous amount of pressure toThe market what we have now is we have this big macro trade that's going on we can use the and do it with the 10-year it doesn't really matter which instrument we do it with it's all the pretty much the same soup but you start taking a look at this and you startSaying okay well here's is July how do we act well right around these Peaks you're going to note something and if you come here and take a look at the dollar same exact thing down here rallies tries this is when Japan came out with their statement that wasEssentially a rate hike and that led to a strong dollar and that led to people selling bonds because we're going to have to compensate for what they're doing because essentially they're going to unwind that Japanese Bond trade we've talked about that extensively in the past weeks you can go back and find thatVideo it was on a Saturday probably two or three Saturdays ago so that leads us to that's why we went up all right so just to be clear we are up because the probability and you can go to Fed tool CMA I have a lot of names I want toCover so I'm not going to do it tonight but you just go to Fed tool and pull it up and look at it uh the probability of a rate hike changed dramatically today it's just it just did but if you look at where we're at now and you look at theAction and then we drill into this let's do the weekly so you can just see this okay because this is pretty be about as good as you could get you really couldn't ask for a better start to the week and let me explain why I'm saying that it's Tuesday you're already youAlready have an outside bar you're already on an outside week all right so I mean could you engulf this and take out the low you could engulfing bars are pretty rare that's why people always talk about them it's not common for an engulfing bar once you have an outsideWeek you usually go in that direction or remain in that bar for the rest of the week you might want to listen that again but once These Bars form you know two days three days that's pretty much your range if you're gonna have an outsideWeek it is rare to have an engulfing why could you have an engulfing if you had some piece of economic data that came out that was really glaring what kind of economic data pce is significantly different than CPI GDP is Shilling three and a half instead of the 2.4 somethingLike that could really get to you but we have a lot of names to cover so I want to stick with this and you can comment on that I think it's important for me to stick with that especially during the week to pack this with everything I canThat is actionable for the next day it's exactly what I tried to do last night's video just try to pack it in and that's why it was set up that way so I do appreciate the comments on there if you watch yesterday's video and you lookedAt the levels that were marked off you had a pretty good day I would think so you should have and I know that the people that were the pre-market live if they followed the game plan they probably should have had a pretty good day so you could see the level you couldSee what we were concerned with you know why we were concerned about this level right so just FYI this is when we had that pal top and then we could see how we acted at what the pal top right here and when he spoke he's like things areYou know we're gonna make sure people lose their jobs and we're going to raise rates and it wasn't it wasn't a warm fuzzy conversation and uh no he just doesn't really care about the supply side of Economics for whatever reason and just increase the supply it seems toBe so worried about demand but anyway and you can just see that is constant buying okay this is a 60 Minute chart and I just want to point this out because I think it's absolutely glare sharing right there I get asked a lot where's the the time frame on yourCharts it's right here here's the symbol and here's the date so that you know exactly what you're looking at because sometimes you go back and watch these and I always tell people to do that I don't erase anything you can go back and listen to all this all the pre-marketsEverything's on there I don't think I've taken anything off maybe the first couple that I did because they were God awful when I started the channel but other than that but every single one of these bars is what green okay so here's the point that I'm getting at we haveAll these gurus quote gurus out there because there's no such thing right every single day we're just trying to learn and get a little bit better and you're looking at this and you're calling the top right so how how are you calling the top when you're sittingRight here and now you're at a two-week High I mean if you think about this just just to kind of put this in perspective let's take a look at where we're at today when was the last time you were this High all right when was the lastTime we were actually closing over the level that we're at you have to go to here you have to go to August 8th right so you're about three you're about at a three week high and if you look at this Market I'm spending time on this onPurpose so you get it if I Mark the peak and I drop to here I'm two and a half percent off the high and we're going to call Top you gotta get I can't stress this enough guys you got to start watching who you're listening to andStart calling your feed and even if it's me and you find that I'm throwing your trading off that just means that you don't jibe with the way that I explain things and that's great I wish you the best you've got to pull your feeds on where you're getting your informationFrom and make sure it flows with with your trading and if it doesn't you cut it the biggest problem is just looking at that and going on that assumption whereas we were even talking about this again you know today in pre-market live where okay maybe that's that or maybeIt's the mother of all cops no it can't be why why can't it be I mean here just take a look at this so here's the cup right and then you go here and you go here's the handle and this is just so fascinating because we were talkingAbout this today and then we'll get into this you know mastercard's telling you that something's going on all right mastercard's telling us that something's going on I mean here is a two-year base that we're breaking out of but we're going into a recession well why are credit cards transactions going up ifWe're going through recession even if you think oh well they're using their money they're using their own money to do that okay would they still have to use the debit card right do you still have to use it right you have this channel up here it's kind of wonkyThere's a couple of them actually but this can go I mean this has legs yeah you might want to use that one that's a little bit better more realistic let's get rid of that because you actually have one two three rejection here so you could probably use that but this hasLegs guys to kind of get back in that Trend you have a multi-year base you're almost a three-year base I mean you're seeing this someone was asking me about Visa today look at Visa look at that so they're they're telling you that this is where we're going that more transactionsAnd then you start to see it right then we saw it today and we're all sitting here trying to figure out you know what's going on with Bitcoin which great if you traded them today congrats but that's look at this I mean all of a sudden we have major reversals whyBecause if people are losing their jobs just the way it worked then they're not going to raise rates if you lost a million jobs let me just save everybody a lot of time there is no time in recorded history where we lost about 12 of the job openings in a month and theyWent out and raised rates you cannot find an example of where they did anything like that so it's just it doesn't exist and they're certainly not going to do it right now and I do think that he wants to wait and see what he did him being pal now went off on aTangent there for a reason start looking at these names I am looking at all these high-end names again rma's you can start seeing how that's going lvmh HF sorry I'm starting to look at all these names again start looking at all the high-end names jwn probably hadA decent day not really kind of a disaster there isn't it so but focus on on the ultra high-end names they're the ones that I think make the most sense I would not go I would not go into this one someone said we're off the Run theyWere trying trying to bottom fish today in the room I mean you can try my mic rule of thumb is if I'm below the 55 I'm not a buyer it's just the way that my mind works and I've done very well with that if I'm below the 55 I'll day tradeIt I will whack it around but that's it let's get back into the indexes and you know let's go back to the es here it is very difficult for me to see that you're not getting back to highs unless you get some economic data this week and I don'tKnow what could possibly get you there now I I really don't today's number was exactly what we were looking for and we have to go back to this we have to spend a second on this now that I'm thinking about it and make sure that everybody gets this because we we've gone throughThis a couple times but here's the macro lag if you're trading your trading should be like a stole here's the technical lag and here's the fundamental leg doesn't matter which way you want to look at these legs and what we'll do is we'll do we'll do it this way we'll doMacro fundamental Technical and when you're sitting on that stool what happens is sometimes you lean forward sometimes you lean back just like we do on the market when you come through Jackson Hole goal and everybody is net short because they think he's going to be bearish and then you get a jobsReport like that well he can't really do a whole heck of a lot and we're leaning on macro that's why jolts today that's why when people look at these numbers and go why why would we move on jolts today when we didn't move two months agoWhere were you on the stool were you leaning on the fundamentals were we worried about Apple was was inflation plummeting and we didn't have to worry about it okay did we know that there were gonna be more rate hikes so it all depends and that's why I always use thisAnalogy because some people say oh no the be-all end all's jobs no it's jobs when you're leaning on macro if you're not leaning on macro during that period in time right like macro didn't matter when they put 1.7 trillion dollars into the market the only thing that mattered were technicals fundamentals didn'tMatter because all the money was free the only thing that matters was reading a technical chart that's where everybody felt like they were a genius and that's all they ever needed to do they'd never traded in a market where your margin rate is seven percent and you don't have1.7 trillion out there right huge difference anyway if we know this now we can act on it so we know that that's the thing so we know tomorrow GDP they will act on we know pce prices which is the precursor they will act on for pce the next day all right non-form payrollsYou're gonna get some data you have to look at that data at ADP coming down the pike that'll be a that'll be a mover but you start looking at NQ and you look at the NASDAQ that's really tough to bet against right now it's really tough andWe we went over a couple things all right we went over right here okay we went over that 50. we talked about that we talked about rate of change here's rate of change we talked about how to get back over the zero line on the dailyAnd then we said we have to see how it acts on the weekly so the one thing that we wanted to look at was we don't want to be a net buyer if we are below this on the weekly on rate of change it doesn't work it underperforms and weWalk through this on Saturday I'll link Saturday's video at the end of this I would strongly recommend that you watch Saturday's video if you have not because there's a lot that's going on right now that's linked in that video so you see how you're pushing right here Jay you'reFlipping right there you're going to want to watch this guys very very closely all right very closely this is a textbook pattern it's not complete yet but this is just textbook stuff I did some Candlestick patterns on education one two down right and lower low lowerLow lower low three in a rows of The Black Crows if you negate which you did right here you negate that black crow pattern and what you have is you start setting up a bullish hook reversal now if you undercut there it's called like a bullish homing pigeon if you want to getSuper technical but one two three down sideways bar this becomes your trigger what did you do you have to get over that higher high 15 4 18 would you hit today 15 4 30. congratulations you just triggered a bullish hook reversal on the NASDAQ so you got that going for you andIt negates them if you break below here so if you look at this to think that you're that the highs in on the ear is somewhat delusional that's it I mean it's really it's really that simple and I really think that's how you have toLook at it you don't have enough data to make that decision you don't have enough data to say there's going to be a credit event we're coming down here you don't have enough data to say that this is the high what you have is what's in front ofYou right now that's one of the reasons why I always say you have to trade what's in front of you right we can sit here and talk about everything but you have to trade what's in front of you it's really that simple you know last night a great example I we went longNvidia at the end of the day and the only reason that we did and I'm for time's sake I won't show you the trades today I'll show you some live trades that I that we do tomorrow that are already set up for tomorrow we see theseRight here those Wicks as soon as you have those Wicks you've got I've got a tweezer bottom I had a tweezer bottom sitting there on a 22. like and then I have a 12 22 cross and you're going to tell me that it's going to break as it'sGrowing at a hundred percent quarter versus quarter beating all estimates and you're going to bet against it okay okay now you have an all-time high close and people are betting against that okay this is this is where people get caught up in their own nonsense and believe themselves you have to actually tradeWhat's actually happening okay it is very clear that they are knocking the cover off the ball all right and instead people are going to pick the top if you didn't pick the bottom don't try to pick the Top If you look at Tesla right at this 55 I personally think that thisStill has issues but they were going to grind this and they ground it right up all the way I would look for stocks listen to this real carefully because it's something you could actually on tomorrow I would look for stocks that did not break the 55 and are not aboveThe 55 and should we roll back down or give some back right there's no indication that we're out of the woods if we break below this 4483 yeah I have to sit back I have to take a look again right that's where I'm at right now andI have to look at what that really means because we could come back down retest Gap fill but this is what we have and we have it on why because of this leg on the stool hopefully you see how this is all connected we know the dollar isImploding we said we'd go through it everybody was giddy because they were saying oh well we're over the 200. okay remember this when I say this because sometimes I have these little sayings that I forget to even tell you I don't care that you're over the slopes downSlope is more important than position right so whenever you see this and someone's like oh we're over the 200 slope is more just tell them slope is more important than position it just is and and not only will you say that but go look at your own trading and realizeThat every time something broke over the five or the 10 or whatever average you're trading if the slope was up you did better if the slope was down you did worse on the on the probability scale we know the 55 crosses here we've been talking about this death cross we knowThat the resistance level is this 200. sometimes you pop over resistance you still haven't made a higher Hive so we're not really breaking out there the vix is completely imploding completely imploding so we know all this we know bitcoin's going higher because everyone's excited about gbtc I'm notGoing to waste a lot of time on that we'll go over it later and those names I want to focus on the big moves and what we see happening out there and how we're going to act on because there's some important things out there that I thinkWe need to discuss number one you stopped you see where you're at right here and how you broke the 55 you're still not over it and you have it declining what did I just say you have to worry about the slope of the line theSlope of the line here is down the slip of the line here is down all right so you have to find names that don't have the slope of the line down there's one that begins with an n and ends with an a right so you have to find ones thatDon't have these slopes down and and if you're going to play the ones with the slopes down start seeing if we can get like the the lower end once to start curling up that's why I always use this which is the three the five and theEight and they're the dailies on a 15 minute we went through some of this today and we were talking about how it was respecting these averages and then you could see the move and I came in with a short position here and obviously you know it didn't work but it was easyEnough I mean there was enough money to be made out there today but you start looking at these names like apple now look at this okay you're still not above the 55 but the 12's Crossing well what's that mean well that means that we could just trade sideways for a while andThat's something that we have to look at okay tomorrow's video I think we should spend some time going through the cloud and what that's telling us I think you have to look at meta and realize that you did not get over the 55. you have aDeclining 22 you are not over the 50 on the RSI when you start going through your names that way you can start deciphering which ones that you want to be in he to follow up on it I got right to the 12 and I reject it I don't have aFull short position on here I actually am down in those puts a little bit I'm hoping to get some kind of push to 1920. I'm not adding here because I want to keep some pepper dry but I figured I'd throw that out there so people ask aboutIt cvna was what we went through yesterday I'll get rid of my 400 lines and we'll cover this very quickly and you can just see your dtl right here and that's what's up next right everybody sees this I'm sure and you're going to want to watch that right so you're goingTo want to watch this what do we have 55 that's pointing up a 12 that's pointing up a 22 that's pointing up we're over the 50 RSI see how you might want to consider the idea of making yourself a checklist right and just checking things off and maybe assign numericalEvaluations to that checklist and then if you're not at a three or four then you maybe you don't do the trade in other words am I over the 55 number one am I over the 12 am I over the 22 all right there's three points are theySloping up one two three I have a six seven did a whole video on this guys did a whole video on this you could probably find it on the in the channel under education videos a firm we talked about yesterday you flipped the doji No Love No real move there this was aFascinating call today UBS came out and said they love Oracle it's worth 140. it's so rare to see somebody do this with Oracle but nonetheless we're looking right at it and this is it so we'll have to take a look at that now if we take a look at Google this was aGreat trade today I did very well with this as a day trade and I'm going to show you the just the stock this way ah and they just gave some signs it was time to go but and you could see those signs pretty clearly here right rateYour trading up you see the trend line right there that was one of the indicators that you could use that it was time to go let me just show you that right there I mean that was pretty obvious pretty glaring right when you broke that because who buys like thatInstitution so institutions are done buying that's pretty much it so you can kind of see that and then you fought the V always interesting how you can take that first bar look at 50 and then note how it didn't break that 50 level it's always fascinating to make yeah thisConference is probably going on for a couple more days I don't know what else is going to come out of it they're doing things with Nvidia everybody's doing things with Nvidia you really don't get cleaner on a chart than this you just don't right if you're looking at TechNames you're just not going to get cleaner these are the kinds of names I would look at these are not the kinds of names I'd be going crazy about I got to the 55 and what did I do I got matumba so I don't want to be a buyer of thoseKinds of names and I think you really have to keep that you know I think you really have to keep that in mind here some of these other names I just want to go over like you're seeing a lot of this froth look when you own this kind ofStuff the day that you're in this I'm just going to give you the this quick tip the day you're in this and you don't close over the open of that day you probably want out okay you probably don't want to be in that trade and youCan see that very clearly here when you didn't do it and you didn't do it here I can't even hold the open you probably don't want to be in that I just want to throw that out there for people that are looking at these kinds of names andTrading them you're going to want to focus on retail right now because if rates don't go higher retail is going to push but again what are we doing we're sitting right at the 55. we are not out of the woods even though we went up andEven though I do think that we're going to go higher by the end of the year we are not out of the woods I can't say it enough 55 22. we're sitting right there you know where the leaders are because we just walk through them and we markThem off I'd be very particular about committing to anything until this sorts itself off there's always some kind of retest down at some point and then that always provides a better entry point that's it

S p breaks a support level NASDAQ rejects braking above the January 22 highs we're going to explain why this is critical semiconductor sector has its worst day in months AMD has a massive reversal after opening up Nvidia sold down on the AMD news we'll explain why that might be a good thing 10-yearTreasury is clearly above four percent we'll explain what this means for stocks specifically technology and biotech elf closes at an all-time high after hours upwork is the big winner of the evening up 20 percent after hours Tesla finally closed below that critical level we'll explain what's next we'll walk throughThe key levels to watch for Apple we have a lot to go over let's get to it hey everybody welcome back we're all aware of the finch downgrade of U.S treasuries yesterday we went over it in great detail I will link that video at the end of this one in case you haven'tSeen it already I suggest you watch it for those that are new all these videos are linked together so when you jump in just know that it's going to be follow through tomorrow on what we go over today as long as it's pertinent it usually is is especially during earningsSeason now just kind of draw this line give me a second here to get rid of that magnet we just kind of draw this line you see how you have that Trend sitting there maybe you come down to this level maybe you don't but you have to watchAnd respect what's going on here and these kinds of bars when they reverse you want to pay attention to them so you have another little Trend here and you're sitting on it you do not want to make a lower low tomorrow if you make a lower low tomorrow you're probablyHeading towards this other little band now before we talk about March 22nd and why we can't get through it before we go down that road let's just talk about this you're sitting with a 22-day moving average I use a 12 a 22 and a 55 you should use what you're comfortable withMy concerns and I voiced this yesterday and I've been talking about this that we are due for some kind of pullback my concern was this negative Divergence you never know when they're coming but when you start to see them you know that you're getting somewhat Toppy and whyYou want to watch and why you want to wait is from this time to here you add a negative Divergence you still went up three and a half percent it's just starting to come home to roost right now so we're going to have to watch thisWe're going to have to watch this with great intent when we went through the market in and of itself we talked about this level and how we're struggling up here with March the biggest issue that we have is that we're just unable to clear it and we talked about thatSpecific level we talked about 4 600 and said there's very little reason to go crazy here until we get above that now does that mean that we're going to drop down to you know 4 500 very well could it's really not that far off and if youBreak that well then you just start getting down to here and I don't really think that's the end of the world to have some kind of Correction down there now just to kind of put it in perspective from there that's a whopping four percent correction every 18 monthsYou should have a correction of about 10 percent during during the the season That season of trading that 18-month window and you just if you go back through history it happens people people are not used to it because you used to have the FED that was backstopping youBut you look from January on you're up over 20 percent which is a huge windfall and you're seeing diversification through all the fields and we'll go through that where you see it happening in energy names let's clean this off but you're seeing it happen in energy names you're seeing it happen in basicMaterials okay so they're down on the day so what they're all they're holding their own I mean even financials with all the banks that we lost if you just drop a line from January it's due from January third on you see what I mean here's January 3rd close okay everythingThat happened with regional Banks and your break even from January from the beginning it's absolutely insane when you think about it it's absolutely insane that that you are Break Even from that date and here's something even crazier if you go here and you drop an anchored V web at the beginning of theYear it's not exact beginning years old back a little further let's drop that back to the beginning of the year right there yeah it gets the same spot doesn't it if you look at that that means that the person that or persons that are buying financials are actually up on theAir it's kind of crazy when you think about it considering everything you've gone through so we're seeing the financials hold in there Industrials are still at all-time highs and again you start looking at what's going on and go well here we are January and just kindOf go and take a look at it and go okay 12 percent not as bad spot to be go take a look at the tech space which you should be fully aware of going into what's going to happen tomorrow night which we are going to talk about itBecause it's going to be very significant you're up 41 in the technology sector in six months I really don't see a 10 correction like the end of the world here guys so can it happen it absolutely can happen let's go through some key levels for you to watchTomorrow so the key levels I would be watching on the Es are going to be this 4621 this 45 41 43 30. I would watch these levels on a longer time frame these are my key support levels around now I can overlay this with with movingAverages you break the 22 you could say you're heading to the 55 get you to 4 400. you have some stuff in here as well but when this starts selling off it's just going to start selling off and it's just going to be weak it's not going toBe straight down either you're going to have days where you're up one two percent and then roll again it's just the nature of the Beast that you're going to go through it's the nature of the market now if we take a look at theS p on an hourly and we're going to get rid of everything else that's on there and just look at this from an hourly perspective and we did this in the pre-market if you don't watch the pre-market I suggest you do and the other thing you can always do is justWatch it later if you can't make it live starts between 8 15 and 8 30 every single day left shoulder head right shoulder they don't have to be the same height come take a look at your neckline and then you're you go around and go well guess what you broke you broke yourNeckline and we were talking about that 45.50 you did not want to break that today now that you've broken that all these points become resistance 4550 becomes resistance 45 80 80 becomes resistance 4600 you got it resistance 46 21 and then of course this 46.30 these all become resistance points whereSupports right we stopped at one point today 45 28 you if you break 45-28 I don't see anything in between 45 28 that doesn't get you down to that 4 500 level so if you break 45 28 I would watch that very very carefully and that's whereYou're going to you might want to screenshot those now Saturday as always we will go into more detail these videos are shorter specifically because of the time of the weekday people work and I just want to get to what's pertinent so if you take a look here you can see theWhat lower high first time and then you make a lower low confirming that everybody see that when was the last time you did that it's been a while guys it's been a while down down new high down low or low all right you really haven't had that down down new high downOn new high you have not had this guys you want to watch it because it's setting up something very similar to this and that's not the end I want to be real clear about this that's not the end of the world where you've taken out thatLow here we took out the lower low and they took out a lower low it's not the end of the world it actually went on for a very short period of time now how long this could go on for it remains to be seen but this went on for a whoppingMonth so you're not talking about the end of the world if you're not hitting new highs every month it's actually healthy so I'd like to actually say it happen now if you overlay this with some indicators this is exactly what we talked about yesterday to the T andAgain you don't know when it's going to happen but when you start seeing these divergences and these divergences confirm how does the Divergence confirm by breaking that lower low you could say you didn't break here guess what you did here you broke that is irrefutable you have a negative Divergence in the NASDAQIt is not something that writes itself immediately it takes a little bit of time now I want to be real clear about that it takes a little bit of time you're not going to see a ton of these they're not overly common usually you see a higher high and then it'll startRolling back down even in here you really don't have them you could argue that those Wicks are there you could say here and then you're coming down but you're coming down as well higher high in here you really don't have it to here and I would pay attention to this IWould not I would not sleep on this okay people will always say that the Divergence or that the RSI is a lagging indicator it may be a lagging indicator for them it is not for me I use it predicated for the most part on divergences Divergence they're leading indicators they are not laggingIndicators I understand that the data point has to be here for the price to move but actually reading this using divergences can give you an edge and I would strongly suggest that you spend some time learning it instead of just saying that RSI and indicators don't work it's like saying that a hammerDoesn't work and you're in an eight-year-old's hand the hammer does not work but in a Craftsman it does so if you take a look at the NASDAQ rear and you can see how we're hanging in there at that 15-2 I'd watch that level I don't see how how are you not going toTest there I mean what what holds us up the socks because it looks so good because it looks so good try not to laugh but the socks looks awful okay we have this Rising wedge Rising wedge remember this statement if you remember nothing else Rising wedges RisingChannels and in tears okay they don't end happy there's no happy ending at the end of this that's not how these work so what's our driving force well we're also biotech Laden how's biotech doing well this has just been a disaster and we're just seeing disaster after disaster ifYou've been following you know this apls you know we're short that we're still short at tgtx blew up all these little guys they're blowing up all over the place you're not getting any real footing now the other problem that we have is we had the specialty FinancialNames going higher but before we get into the specialty finances and how they were driving the market let's talk about the NASDAQ and what's going to happen here as far as levels that we have to watch well this is not really adding a ton of value call it 16 000. the mostImportant level for us is to hold this 15-5 if we don't hold that we have problems click through this we're below the 22. do I want to be below the 22 the answer to that is no and the answer is if you take a look at what's going onHere we haven't been below the 22 since April I do not want to be here I would like to get back above that as soon as possible please so for me I give it three to five days is usually it's usually three days if it's below thereFor three days or you make a lower low you're pretty much are confirmed that you're going to have to consolidate over a period of time my hope is that with this this is a one day wonder if some of these things have been and you can seeSome of these one-hit wonders and then you reverse and you start to build again that's my hope I don't know that that's going to work considering how much weight we have above us right now and the earnings that are coming out now that can flip tomorrow and we're goingTo talk about how this whole thing can flip and we're going to get into that but if we take a look at how this is playing out now 15.5 is your big level now if you look at this on the hourly let's just drop this down you can seeThat you're really not going anywhere there's really nowhere that we're going you're just sloping down and they're just working you down that's all they've been doing and they've been doing here and then we're going to say oh well it's because of Finch is it because here wasBecause of Japan and you couldn't get over that and stay over that so we're seeing selling these are the levels that I would pay attention to you can always screenshot this probably not the worst idea so that you have them for later and look at them now let's get into theSocks if you look at the socks on the hourly listen to last night's video which I will link I was pretty clear that I was shorting the socks and that I was telling you to be very careful of AMD it's time stamped you can go and listen I'm not Monday morningQuarterbacking but you can go and take a look and listen into it you see your channel right here see how you're up here and there's your channel now grab this line so you're sitting right there okay there's your channel you don't want to pop out of this what's the easiest wayTo say that I don't want to pop out of this channel you don't want to break 5 11 74. you might want to remember that level if you do you're probably heading to here 503 which makes sense you'd probably head to that you know 500 level somewhere in here but usually you headTo the lower end part of the channel which would take you to here that's what I would pay attention to now these were the things that I suggested yesterday or I said that I'm I'm long and then I was short the other one you know I'm not I'mNot saying that you should be going crazy here and staying short these I don't have a short position in semi's realm I don't know what was going to happen with Qualcomm this evening I have no idea what happens tomorrow with Amazon and apple frankly nobody does soThe idea that you're going to be blind into this because and you're only up a little bit in the trade why even why even play games just come in fresh and this is is not something that looks great that I need to be sure look atThis on an hourly basis frankly it looks like a nightmare to be short this so why would I want to stay short make my money get in get out this is very important that people understand this because they're throwing the baby out with the bath water and I'll explain what I meanBy that so AMD to me and this is why I really hammered this point home in last night's video and please comment if you like when I put these out a little bit later but I'm able to give you context I was able to give more context because IWaited for AMD I try to get them out earlier so they get into the feed but sometimes there's data points I want to listen to so not a bad idea sometimes to just hit that clone button and just see if that fits in here see if that fitsAnywhere look at that it's a Christmas miracle so you're sitting right here see how they're the same trajectory so you want to see how they act Bonk Bonk Bonk okay number one if you get a bar like this that encompasses months you could have a problem you have a problem if youHave a bar like this like this red nasty bar here and you click on here you look at that bar and you are encapsulating to all that in one bar you have a problem okay this is not something that goes away this is when everybody goes homeAnd they hope and we know what happens when you hope and this is pretty glaring stuff guys so but you can see this today yourself and you can see how you let me just throw that up there because I might come back to it you see how you brokeDown there that's exactly what you're looking for now we can see the breakdown we can see how we popped over and then we just got Matumbo here coming back down where would the target be well if you were to use this which might not beThe worst idea in the world and just say well I don't know where would that put us okay to stay in this channel would put you here roughly 96 dollars is that possible yeah yeah it's possible they lowered their revenue guidance and they're saying that don't worry we'reGoing to make it up in fourth quarter well you've all had a project if you own a house or you had a project and or something was broken and they were going to fix it it says get done on that day would you bet the farm that it's goingTo get done that day so this boils back to what we need to pay attention to number one we need to look at AMD and go how do we profit from this okay very simple I have a 12 a 22 and a 55 that I just closed below all right rallies areMeant to be sold until otherwise discussed period and the issue that you're going to have with that statement is that you have apple and Amazon tomorrow and that's going to be a problem now we're not going to see the 10-year miraculously just start rallying for some reason we're not going to seeThe 10-year bond rally for some reason now why is that important that's important because yields are not going to go down if yields are not going to go down then Tech is probably going to drop a little bit and reposition itself that's why last night I was saying I'mReally surprised that Futures are only down a little bit and it looks like they were just waiting for Asia to open and then just start crushing us which is what they did and the reason for that is because everybody reprices everything so you you realize that the cost of goodsThe cost of borrow is going to be greater someone said oh they're just someone sent me a tweet and actually if we still call them tweets and said you know it's just for the United States it's not for corporations okay let me just explain how Corporate bonds workEvery single corporate bond issuance and I'm not exaggerating every single one is based off U.S treasuries every single one is marked by U.S treasuries if U.S treasuries go up debt goes up of corporate debt goes up period commercial paper goes up period it's irrefutable this is this is Ecom 101 kind of stuffGuys so when you see this trickling up that means commercial paper when you have to borrow commercial paper to make your payroll guess what now it costs more money all that eats in the earnings that's why this is bad who's the highest levered companies biotech and TechnologyThey're hit the worst by this so what we want to do is we want to see this hold somewhere but I want to just kind of walk through this because you know it's always the devil's always in the details and it's always the thing that we're not expecting everyone's talking about ohIt's going to be commercial loans that's what's going to kill us Office Buildings you know New York office buildings are all going to go to zero and here we break out from 1993. Earl this actually goes back to 87 and you've broke that dtl it's a multi-decade dtl you broke itYou're above it now we're all assuming that inflation is what's driving this what if it's nobody wants treasuries because they're they're afraid of the debt load we're not even we're not even talking about that as as an option we're not even talking about that as somethingThat's a problem okay and I think that that's big that is when you find out what the real problem is and I would watch this now my hope is that it Shrugged off and that we come in tomorrow or the next day and we're doing considerably better but until then IWould just watch this very very closely now if we go out here and take a look at what we went over yesterday and what we've been going over for a period of time you know KLA KLA Corporation almost said KLA 10 core that's how old I am I'mIn my 40s it's called the 10 core it used to be called 10 core KLA 10 core was its name now you can see this level over here and how you're holding and we're back to levels that you haven't seen in 72 hours so it's not exactly getting destroyed why is that becauseKlac land research these companies are needed why are they needed AMD cannot build out through Taiwan semi or UMC without KLA without lamb it just doesn't work you need them to build out now the next one coming out Amat amat's coming out Thursday August 17th I would watchThat and I think this one will be next before that comes out with earnings you will get a look at Apple's earnings we will get a sense of what apple is doing that is tomorrow night this can change Apple can change the market apple isSeven percent or more of the S P 500 Apple comes out knocks the cover off the ball it can move the entire Market it can shift everything if Amazon comes out and says that we see AWS demand going through the roof because people are starting to want more data storage orWhatever they say that they're going to relate it to AI anything like that that would be great and that could help us out immensely and these are the kinds of things that you're going to want to watch now after hours you're getting a couple movers you're not getting youKnow the huge movers out there like you're got like you had you know elf the other day we was talking about this one since weeks we've been talking about this in its earnings and here we are just been an absolute monster I'd be careful here now I just want to goThrough it's one of the reasons why I have it in here but I I would just be careful you couldn't get out of your own way today you really couldn't and that's bothersome so I mean if you really look at what you have here you have an H youActually have what's called a falling or a Rising Three that down one two three up and then you roll that's exactly what happened no you want to watch this and you probably don't want to go near it at least get above that high or at leastGet above the days open and that's what I would focus on I do think you might want to look at some names like Nvidia and if they're going to crack then they're going to crack but you held in here and you're holding a key level soYou want to see if you can hold that 442 and I would use 442 now 441 it's 442. but if you can hold 442 that would be great I like that I actually added to this today Canon and we'll see how this goes off the open I get asked what I doOr what I did today good trades bad trades I have no problem with it I bought meta off the open it absolutely did not work at all I just blew it out and moved on with my life I would not sleep on this there's a 40 billionDollar buyback out there but and it didn't close below here but I need to flip and get going here if you take a look at this you held the 12 that's great let's see how we do and we'll go from there cat was a nice trade thatBlew up you do have this dtl up here I was trying to get to 95 I got to 94. I'll take it but I do like that but you have this upper Channel up here you're going to have to flip this upper Channel let's let me show you this you're goingTo have to flip that ahead of time before you get there Tesla I'm trying to go through all the names guys because there's a bunch of names but uh trying to fit them all in because I think some of these are really pertinent there nowIf you take a look here at what's going on what was the level I said we have to get through and I said don't worry tomorrow I'm not going to short it I'm going to be finally crack so this made your life very very easy because now youHave a you know you actually have a selling doji down here they would call it a black doji but it doesn't matter the color is the color so here you are and you broke that level and it's that 255 level you just don't want to getAbove that and you want to see how you act tomorrow upwork was the big winner there we go you're at 12 from 10 just watch this tomorrow these are the kinds of names that have been absolutely ripping you've you have been getting two or three days out of these this SYM youActually got earnings upgraded by Goldman if you take a from when you broke out look at that isn't that convenient from the day day that earnings came out so on average everybody that's in here is up and I would watch that again tomorrow you're watching two three-day moves out of hereGuys here's a three-day move on Roku off of earnings and what you do with these is just even just drop a view app there and you kind of see where you're at and then you can always see where you were previously kind of in the same area notReally adding a tremendous amount of value there and maybe hold in here maybe you don't but overall the one thing that you need to keep in the back of your head is that you made a lower low today and you need to hold this area and youReally do not want to close again tomorrow under the 22-day moving average that's it

Understanding Market Sentiment Analysis: A Comprehensive Guide Market sentiment analysis is a powerful tool that allows investors and traders to gauge the overall sentiment or mood of the market. By analyzing market sentiment, individuals can make informed decisions about buying or selling assets, predicting market trends, and managing risk. In this comprehensive guide, we will […]

s p held a key level NASDAQ held up perfectly setting up a new pattern Amazon's breaking out on news about their AI strategy we're starting to see winners and losers in the AI semi space smci is trying to form a bottom but Rejects at a key level this one sector in the s p is outperforming the NASDAQ Tesla shakes off bad news and sets up a very particular pattern we're going to go over that and several others there's a lot to cover so let's get to it hey everybody welcome back so in today's video what I want to do is just go over exactly what's going on here so we're going to start with the s p this is really textbook stuff we've gone over it several times in the Candlestick videos and the educational videos you can always look those up in the previous videos but see this right here one two three and then that flip so what this is setting up and now we're going to get rid of this right here is you're setting up a bullish hook reversal it could didn't get any clearer now just for sake so everybody understands this I'm using a 12 SMA open high low close Okay so that if your lines look a little different than mine that's what I'm using right now there's several reasons why I'm using that specificity I can do a whole video on it but for now what we're going to do is just focus on what's Happening so here we are we're trying to approach that level and we're having a hard time we get to the 70 and then we're starting to slow down now if we drill into this on the hourly before I begin and I don't use the 12 on the hourly but for our sake we're going to leave it in the one thing that I was pointing out and please make sure that you subscribe to this channel on Saturday I'm going to walk through a classy example of a live trade in Saturday's video of how to use RSI effectively okay I can show you live how we can you can literally call a bottom right where you have the potential for a bottom it's not a hundred percent nothing is but you can see this Divergence right here and it is crystal clear and we saw it this morning and we talked about it this morning on our live call so it was pretty clear to me that this was setting up for Divergence and when you saw it the way we acted at nine o'clock we moved okay they don't care about interest rates anymore I don't know how many times people are going to have to say that what pal has to say is no longer relevant okay unless he's going to go out there and change the 50 basis points it's already baked in and we already know that this is already baked in in front of us is Target rate probabilities for July 26th meeting okay there is a 77 percent chance now that they're going to raise rates nothing he did today changed that so you see the 525 to 550 you can see the probabilities in the associations up here about 77 hike or at 23.1 percent no change right and this is on the 23rd now if we click up here and this is fed watch tool on C me group and it's free now if you look at that level they're saying by September we're either going to be standing Pat or we're going to raise again or we might even cut we don't know right so and they're saying well it might not be an ease well if he raises and then Cuts well then it would be but you just you just don't know what they do right you go out to November and what do you start saying okay you see that there's no change but they're saying from today's date that you should still see a hike then you go out to December and you're slanted this way and we start saying well we might ease right so you're seeing the slant and I just want to point something out that's very very obvious this really did not change today nothing about this changed so his statement over the past two days did nothing new to affect the market and I think that's very important I always like to look at the market and I explain this pretty simply as you know you have a stole right here and we're going to do my stole example for those that are new so and you have this Branch right here which is really your macro and then you have this Branch right here trying to get better with my drawings guys so and then you have that Branch right there which is fundamental analysis which is becoming more important and then you have this Branch right here which is technical analysis when you sit on a stool you shift no different with trading we were looking at macro and everybody was worried the feds CPI jobless claims housing starts now it's fundamental research and we're going to explain how to do that in a little bit here and why that's so important when you see a couple of these moves stocks that are breaking out versus stocks that are not breaking out and we're going to explain how to start drilling into this so if you start seeing es here and you start to see how we're turning we are starting to turn now one of the things that I showed everyone the other day is a system that I created and it's nothing it's not rocket science but there it's proprietary I'm trying to kind of keep it that way but what what you're seeing here is the clouds and the cloud formations and the turns of the clouds and it tells me where I need to be and what's going on and the one thing that I would just take away from this for the people that have been watching for a period of time is if we drill into these clouds and we look at the es on an hourly basis the last time that we turned bearish was back here and then that Bearer signal goes away by your first lead when the first Cloud starts to turn from the lime green to the purple right that's when you first get your first short term buy indicator it's not a Buy Signal but it's a buy indicator now one of the key things I stated that happened was the es this is a 20 EMA on the hourly and when we broke that 4468 we wrote it down the entire time and you should be able to see that to make it even clearer we're going to really drill into this and pay attention because the devil's in the details right now so if you take this out say it okay when did we turn around nine o'clock today right and then we flipped it around 12 11 12 o'clock right so you can see what's happening here right and what did you do since then you never closed below it and since then if you start getting into the cloud formations here's your short-term Cloud what happened once we got above that well this Cloud turned purple all right so now I have a second indicator and note how that purple cloud is riding all the way up we never really closed in that purple cloud and then you start going okay well what are we doing with the long term indicator now and then you realize that they're here now I'm going to just give everyone a little advice and I watch this religiously because it does work for my style of trading it might not work for you but when these all start converging and flipping at the same point you want to pay attention I have no idea what happens tomorrow nobody does but when I see a data point like that it is very rare that we're just going to automatically roll back around it takes time to develop just like this took time to develop right when we started to crack up here I didn't know that this would flip here I didn't know how long we'd stay below the 20. all I know is that's what it's doing so that lets me say hey just stay out of the way there's no reason to go near it whereas if I start looking here at how we're doing and that flip well that would mean to me that if I wanted to be long the market and the market does Gap down tomorrow I might still be a buyer all right that that's the indicator that I would utilize and that indicator and understanding where where we're at and how we acted today allowed us to play some names fairly well and not be too crazy about it I'll get into a couple but I think that's a really important distinction so the question is what do you do now well understand that that indicator has flipped so what I would do is I would just look at some very key levels and watch these key levels tomorrow you don't have a higher high yet you need one so the very first thing we're going to want to see is 44 30 25. if we can get through 44 30 25 then we can start talking about this ski slope and saying that you know what maybe we're finally going to get through that but before you can get through any kind of dtl you really need to make a higher high even if you put this here and say why wouldn't it be super technical and we're going to use that okay you still need to make the higher high no matter how you look at it you need to get above that 4430 and that should be your key level overall I like the action that we're seeing I think it was very positive what happened today I would suggest to everyone that you might just want to Overlay a 12 and just see how it acts now this particular pattern again bullish hook reversal what you're looking for is to flip that daily the higher that daily was 44.27 that coincides perfectly with the 4430 level we were just talking about so I would watch that level very closely if you look at the NASDAQ it's actually up after hours one two three very different pattern with the undercut here so let me just show you the difference okay see how we have this hammer and that that bar is not dangling under there at all and you just have Wick there right Wix are what price rejection very different kind of bar than the ShakeOut that happened here okay this is elongated this was a bigger ShakeOut and then we've come up through this now what does that do that creates what I refer to as a piercing pattern piercing patterns are vicious and you'll see a couple of them in here but this is a great example of a piercing pattern you undercut and then you get up to 50 percent of the existing bar and then you can push and if you see them here they work both ways they you they'll work both ways so in other words if you're here right and I'll just give you an example so you're here and you over cut and then you're greater than 50 percent of this existing bar this would be a bullish engulfing or a bearish engulfing that's the same principle the next bar is usually going to follow and supersede that bar okay that's usually what happens you can see them let's see if I can find another one in here I'm sure there's plenty of them you can see it up here and you can see it right here as well so when you start to see that it really does play out and it is something to pay attention to and I it's higher than a coin toss again what I would be doing with the NASDAQ and what I would be doing on my charts if I was you is I'd be using a 12 open high low close SMA okay that's what I would be doing if you note what's happening here we're going exactly to that level and we are not breaking that is a clear sign that they're just working off the overbought condition and if we drill into this on the hourly that's exactly all we did today that's all we did and here's another key example and I'm really trying to hammer this home because I know a lot of people are saying well if RSI and macd and they work so well these indicators work so well then these people would use them to manage money just you know news flash the people that created and work with a Cleland and work with and the people that created macd they actually manage billions of dollars so you know a lot of people don't know that because they're not very flashy so there is utilization of these tools in professional trading despite what you might hear out there through retail fin twit or YouTube so always check your facts and then look at where they're coming from and then see if that's somebody that you want to emulate or not so you see how you have these levels in here and how you're flipping and how you're turning right and I don't really care about this moving average usually candidly for here I would use a nine but I don't really want anything in there so you can see how we're turning and we're working there's nothing to do here guys now are we going to get back to overbought I would think that you're going to push through overbought at this point and get a little higher now I don't know that that's going to be the case or not but if I had to lean one way that's the way that I would lean let me make this a little bit bigger it's going to bother me there we go so that's what I would focus on and I would focus on that level it's really important that you watch what's going on here okay because all they're doing is shaking people out right we were we refer to it as the shake and bake I'll give you a great example that we did exceptionally well with today and I'm sure others did as well but I'll just walk you through this trade it was just an absolute to me it was just an absolute like layup trade so here's the RSI just FYI and I may actually do a video on this so just so we're just so we're clear on a couple things right I'm gonna be really clear about something it was very clear that that was probably it that we're probably not going to continue to drop okay a four reading on an RSI whether or not you are a one or whatever you are you will be able to go and Mark and see how clear it gets that that is a bottom no matter what happens you're going to bounce right there's going to be some kind of Bounce there anything when you're in the teens and I hate to be this Cavalier and I'm going to say you know don't do this at home but anytime that you're down in these levels where you're like a 12 and 8. I mean those one minute orb trades are almost I I've never done a study on on it it might be a fun study to actually do and back test it but it's got to have a higher degree of probability than 50 percent it has to they are just absolutely glaring so we let this play around and we make sure that it was going to go before we got involved with it and then when it ripped that was it it was risk on this was a great setup today and we did exceptionally well with it I I held calls in this just disclosure I have calls in this now and I have stock in this now so as I describe it I just want to let people know where I stand with it and we've been playing with this if you've been following these videos we've been playing with this all all year candidly but uh a lot more recently and now look what you have the undercut right you have the undercut and you have the reversal what did everybody say yesterday how many people were showing this bullish engulfing this is why it's so important to understand where you are in the pecking order and what's important and what's not right because people are making decisions based upon those legs of a stool and not understanding which leg you're supposed to be leaning on right now okay now I'm not trying to get too esoteric but if you think about it from that perspective it'll make a lot of sense in other words people are worried about CPI CPI is dead Okay Goldman had an article out I'll get into it Saturday but they have an article out that if car prices stay stagnant CPI could drop 20 basis points that's it absolutely insane it would have it would have been cut in half last report it's an absolutely insane statement so that's not an issue for funds anymore they're not looking at that we always want to look at what funds are looking at because they have more money than us we want to get in front of them before they move or at least track them so if you take a look at what happened here today I'll show you one that they clearly are buying but if you look at what happened here today we came right to this level and what level is that that is the 12 SMA I know it says EMA but it's SMA 12 open high low close Okay so keep that in mind came right to it bounced back over are we going to flip this level I think we are I wouldn't have stayed long stock but they made your life very easy because if you take that out you probably have a short because you have not broken that 12 right since you flipped it back here May 5th so if I close below that I'm probably going to want to be out of the way I would not sleep on this name on pullbacks this downgrade today was just a way of that guy cyang himself again I could do a whole video on that and I do want to say thank you to everybody for sharing this I can check through the algorithm on YouTube on the sharing so I really appreciate seeing that people are sharing it whether it's here or not so one guy had like eight followers and shared it and I got two emails for people saying thank you for putting out the content that I am so you might think that it doesn't matter that you share it but it does and I purposely don't run ads so that I don't I'm the middle of this so that I don't bore you and the reason I'm bringing that up is if I ran ads in the middle of this the YouTube algorithm would actually pick me up more and show it to more people so I'm just relying on you know if I provide value just please share it look at it as a value exchange I just really want to educate people what it takes to be successful so much nonsense out there so you see AMD here right what did AMD do and I saw this yesterday with this this technical analyst and I'm not gonna I'm gonna hit all of it again but these are double horns is how I refer to them if you've been following this for a while that's the technical pattern when you run up like this and then they one especially when one overtakes the other right because that's just the the leading Flim Flam when this secondary one all of a sudden takes over that one it is just like the king of Flim Flam here's the undercut of the 12 then you right down here if you think about these as horns and that's a face then you see the devil horns and now you're back down here but this was very clear that you had a problem okay and I'll show you the difference between AMD which is clearly becoming we're going to say loser but a rising tide is going to lift all boats but you see the undercut here but once you undercut here on the RSI you do have a confirmed negative Divergence so this is not something that I would go near right I would not be buying AMD here just my personal opinion okay I'm not saying that people won't do well with it but of all the names this is not the one I would go near the one that I'm going near and the one that I'm playing and I played a lot of today is NVIDIA I walked through it yesterday now I'm not crazy about today's action in the video and I really want to walk through this so but I did see somebody try to explain that this is a negative Divergence you do not have confirmation of a negative Divergence until you undercut this it's that simple if you undercut this you have a negative Divergence right now you just have a stock that hasn't made a decision yet as far as RSI and you can get over in 87. it can happen believe me we saw it before and I've seen it for a long period of time so if you really want to know what trading in this environment's like I would suggest that you go back and look at the late to mid 90s anything after 96 between 96 and 98 is exactly how we're acting and we're having these pullbacks people are getting shaken out and then we're ripping it's very different and you can do extremely well if you have a process that's set up but I'll get into that in a moment so if you see this and I just want to explain why I'm not overly crazy about this because people people will look at that and go well you're up I'm up in a market where the NASDAQ was up one percent and I'm not up on the day that doesn't make me feel warm and fuzzy the other thing is this was rejection so let me just blow this up so you can see what I'm talking about here this was rejection Wix are what price rejection so all I did was fill in the wick today right okay so that's great right that should make me feel good well I couldn't get over the clothes so whoever was selling there at the close is still selling right now maybe it's a market order thing and maybe we should take a look at Max Payne here for a second see what's going on at the 4 a 30 level but if we see how we're coming straight across here I have a problem at 4 30. I don't want Wix being filled into the downside and unable to fill into the upside even though it's green and we did not fall apart and so that's supposed to make me feel good about myself it it does it and on top of that I'm flat and the socks is up right so the socks is up it held okay there's actually a somewhat of a piercing pattern there not an exact one but close and Nvidia is flat that's not really a ringing endorsement very different action than Tesla today right and I want to keep that in mind so while I'm bullish on this name and I like it long term I'm very curious as to what it's going to take to get this now this is Max Payne and what you're seeing here is NVIDIA open interest charts maturity and you can see that the amount of open interest right now and this is as of today not as of the close of today was is 450. so they may make a killing should this go that far but you go into the strike and you look at volume by chart maturity versus you know open interest maturity and then you look at what the difference is I don't know if people remember this or not so let's just go through it open interest is updated every morning on days the market is open so that has to be updated right so this shows you where the volume was today so if you look at where the volume was today you see the 420 puts okay and then you can see the 430 calls so that would mean that if that's where the volume is and that's where the open interest shows on this chart tomorrow let's say that we we skew this way right then what they really want to do is they want those puts to expire the option market makers are going to want those puts to expire right and they're going to want these calls to expire okay so let's go take a look at Max Payne and see if that what that's telling us a little cut off here I wonder if I can just squeeze this over so you can see these numbers okay so this is the amount of hash that they would actually lose here and if we look at the max pain level it's exactly what we just thought it was going to be right so you're right around there and you just kind of click in here and you can see this is the amount of money that they're talking about losing in here so anything in here is where they're going to try to keep it so that could be why we're at 4 30 right they could just be trying to pin us there so that they can get all this money and all this premium and I mean I don't blame them I'd be doing the same exact thing but that might be why the video is pinning to that 430. so that's definitely something for us to watch and that could be why we're seeing what we're seeing here right that could be I mean that does make sense if you think about it now if we just take a look at soxl for a moment I always want to walk through this I'm going to put a link Down Below in maybe it'll be it'll be in the description but it'll definitely be in the pin comments so when you comment click on the link I I walk through I get asked a lot to walk through trades that we do in the alpha Chasers Community a lot yesterday's newsletter which is free it's completely free and open to the public I walk through the exact criteria on how we bought this at 14 and then how we sold a portion at 23 and how we sold the portion over here and made sixty percent of the trade I literally walked through every single thing that I use to do that and you can replicate that so and comment below if you read that and you like it and want to see more of that kind of structure because for me showing this the whole goal is to show you what is applicable right what can you really do with this data that we're going over right that's stuck with all the esoteric stuff and let's get to the actually ability to use this stuff but let's get into Amazon so Amazon came out and they're explaining their Cloud strategy and they're doing exceptionally well I saw this move yesterday and it did something that I really liked yesterday and candidly then the FED news shook me out of it I don't know really like when the US attorney's office goes after a company or FTC or anybody because it just gives you an overhang I thought we'd crack here we did not crack the day that they cracked it they came out and issued a statement on how they're going to approach AI I'm not going to bore everybody with it what I will say is this if you go and take a look right here you'll see a volume Spike over relative volume we are far from overbooked okay we could absolutely push higher this is beautiful and this is not something that I would sleep on I I would not sleep on this I My Hope Is that I get a shot tomorrow some kind of pullback on the option Market maker news some other things that I would like to go over Please be aware that carvania should be very active tomorrow and once again you'll notice how it's not what right sitting right there at that nine now if I take this nine and I go here and I go one two three four that's why I like trading views so much it's so easy to switch this stuff and I overlay this ever ever since I got above it I never even touched it never even touched it this is setting up again guys so I don't know if it's going to be kmx's numbers tomorrow that lifts this higher but I would be watching cvna and watching how they do today are tomorrow on that news the other thing I would say to you is that you really need to watch the xly and I know everyone's like you have to watch you need to watch retail in that one newsletter that I'm saying where I walk through the xoxl trade xly I go through this elf trade and this is exactly what's happening and this is the exact markings that I actually have in that newsletter and I explain them in there but the point that I'm getting at here is you had solid earnings okay and you were able to buy this at one point with two dollars of risk and now we're up about 13 in it this is a very easy trade that you don't really have to worry about I mean you have to worry about everything but you know you're not worried about whether or not Nvidia is going to drop 10 points right it's much easier to trade these so when you see something like this in that breakout and it's hitting all-time highs I wouldn't rule it out the other one and you know we were going over this today here's race all-time highs so these certain retailers are hitting all-time Highs but another one that we bought on the dip was Ulta and I actually put this one in these videos that's why these videos are connected so you want to make sure you subscribe if you look for actionable information so you see how we are right here coming across and now you look at your ripping okay you're probably going to Gap fill this probably goes to 475. we're doing fairly well with it I think we're up to 14 14 12 something like that so I like these names I'd focus on it but take a look at this this is fascinating to me it's actually worse than this historically so I'm going to get rid of this and this and I'm showing this because I got asked a lot to show xly and xlp and how I use that I'm going to show you that in a moment but let's get rid of this moving average so we don't confuse but what's really important here what I think is important is that if you look at this relative performance and you realize that you were at and when you see this it's absolutely staggering let's just jump right to it and pull this back so we only go about 20 years because that's all the ETFs go back but if you draw this line from here and you just see where your median is right and you can also just do your median this way just do the FIB and do my median that way so you can kind of see where the 50 line is right so let me just show you that that's 50. all right so you can see where your median line is you can see how far off you are you have so much further that you dropped back here doran.com but you have different types of companies now this is insanely loud I mean you're really at 20-year valuations here 20 years of valuations of underperformance of consumer names versus the NASDAQ it's absolutely insane What's Happening Here historically if you go back and look at where hedge funds are right now they're at 40-year lows in regards to retail Expo closure there's no way that that lasts there's just no way and I think we started to see that today with Amazon and I think we've been seeing it I think they're slowly buying certain retail names the other thing that I've been showing and I should probably show you this first let's stay on this for a second and let's go to this on the daily so this is a one minute chart now the one minute I'm showing for a reason because it's just going to show you how we did over the course of a week on this so if you go back to the 15th and I just showed you a chart where you aren't seeing any L performance at all right you're seeing complete underperformance look how you've done since last Wednesday you're out performing retail names are outperforming the NASDAQ if someone was supposed to tell you do you think the nasdaq's up or retails up it's which is kind of crazy if you think about it but it's happening and I would not rule out retail names I'd start looking at the specialty retail names xly xlp this tells you your wants versus your needs and what we've had for a very long period of time and what we could even do here as well is you just take a fit level for me and I just go Peak to trough that tells you where your median line is isn't that convenient fits right where you are right now right so it looks to me like we're getting ready to flip and all I did is I'm taking the median line of the relative performance of our once versus our needs discretionary versus Staples right simple enough you can actually get rid of this and just pop it up here for time's sake it a little higher so it doesn't get confusing so you see where we're at you can see how we're acting in here right do not sleep on this okay this is really powerful stuff you can see the complete Descent of retail or wants are dropping because the Market's killing us so instead of buying the shiny new thing we want we're going out and buying Clorox right we're buying soap to shower things like that we're buying detergent now What's Happening Here well you should be able to see it but I'll draw it so you can literally see it but there's a left shoulder there's a head and there is a right shoulder okay so now you have an inverse head and shoulders of relative performance if you break that we're probably heading higher on the markets themselves cyclicals are not going to rally and leave the s p behind that's it

Hey everybody wild day today on the S P so we finally are not going to be saying 4 200 every single day as we now have a new closing high on the index we're going to address what this means the key levels and what sectors actually led toFinally breaking out of this little conundrum much to everybody surprised we had a very clear breakout right here and we are flipping support and resistance we're going to explain why this is happening what names to focus on especially the ones that came out this eveningSocks did not break out to a new high and I think that's important to note we're going to explain why it did not and we're also going to explain what stocks moved the NASDAQ today we're going to go over what happened with Tesla today and why it'sSubstantial Nvidia I want to go through what is going on there and I want to walk through a really quick way that you can determine where to put a stop Lululemon and why it's up 40 dollars after hours avgo and why it's down 20 after hours let's get to it heyEverybody welcome back so what we're going to do is we're going to start with the es I'm going to apologize if you hear a little Reverb it'll be the last time that you hear it finally worked out the Kinks but uh I have to set up in aDifferent room so if you hear some Reverb this will be the last time and I appreciate you putting up with it as always subscribe to the channel click all notifications what we go over here is extremely timely and if you've been new and following us for some time IAppreciate it and I appreciate you sharing because apparently people are sharing because we're picking up subscribers left and right so I do appreciate that and it shows that it comes from the sharing so I appreciate it anyway let's get to it es this is the hourly this is not what I was expectingExpecting at all today quite frankly but we're setting up to break out of the es the s p Futures so come all the way back down here and we start testing this area right and this obviously goes you know basically 24 7 it has little breaks butYou can see how we are down here Thursday morning and then we just rip and now we just start getting above levels and we're holding above those levels now whether or not we stay here we have some data tomorrow this is investing.com I'm just going to go through this very quickly you're lookingFor 180 tomorrow at 8 30. everybody's going to want to be paying attention to that after that you have net speculative positions later in the day but the only really important thing that you need to focus on is NFP tomorrow 180 is the number could it move the market it couldThough we need to be cognizant of that and we need to be aware that it's going to happen before we're even trading at 8 30. we'll be live when those numbers go out if you're there for the pre-market show so here we are we have our keyLevel so if you are a Trader and you are a Futures Trader I would suggest that you just take a very quick snapshot of what's marked off here these levels are pretty significant and if you've been following us for some time you'll note that our levels are fairly accurate soWhat got us moving what got us out of here well that's an interesting question we had a good old-fashioned outright broad-based buying today it was just straight buying of equities now if you take a look at the market right here you can see xma this is metal mining thisWas up the most out of any sector second is xpi that was actually up now what's so fascinating about xbi being up is you're going into ASCO this week so when you go into ASCO just FYI that is the oncology conference that everybody watches so you're seeing that we're upBut we're not up a lot but what happened today was xbi was up xlc was up all these are up one one and a quarter percent they're all setting up some are hitting higher highs the ones that are hitting higher Highs are leading okay so xlc is leading we've been talking aboutXlc since we broke this level here the battle that we've gone through and then how 60 was so significant and you can see how we've cleared that 60 and how that 60 was resistance over and over again and how that 60 now became what support so watch that watch thisBreakout your little flag here and you're breaking ahead of it and you have some pretty clear levels here guys just FYI before I drill into the next sectors that you need to be watching the 6308 you stopped right here if you get above that 6308 on this index or sector rather64 clear through 64. you just start working your way up right into this Supply up here well that's probably 300 dollar meta okay because meta is the single largest component here Google's in here Netflix is in here I would I would look at the Holdings on this butThe important thing about today is it was non-stop xlb was up how I was up you had the consumer discretion area retail actually went up for once which was fascinating financials which looked to me like they were going to absolutely fall apart after Goldman's comments today they had some pretty negativeComments about uh stock market participants and their order flow and now it's going to affect earnings and it had the exact opposite effect now I have a saying I always say in the alpha Chasers community and if you've heard it here as well if you have some negativeNews and you shrug it off that is a bullish sediment and that's exactly what happened but you start running through them all xlk and you can just start seeing how we're doing now which two were down xlp so they're not buying Staples okay so they're selling StaplesAnd they're selling the Utes and they're probably selling the Utes because they're out there buying bonds since they're getting five percent on a one month now we went through a bunch of levels today we went through NQ in this level right up here in April and why this level was substantial and youNeeded to watch it today we did that on the pre-market call as well we just marked off a bunch of these so that you could understand where you had to pay attention you could see how we held in here if we drill into this and do thisOn a one minute and really get into the detail this was pretty textbook stuff guys really just textbook stuff and just absolutely fascinating we rallied up and we knew we had a level right around here that we had to pay attention to this 143 3 5. so we're gonna leave it at 332. let's move it up just a hair right there so we talked about this pre-mark and said look if you can get above this it's on I actually had a decent short today right here where I actually shorted theMarket and I actually also bought puts and I did okay came back down tested the support and then that was pretty much the end of it you could see from there it was on so from that support line which is now 14 to 89.50 from that levelWe just ripped and what's crazy about these rips is you never even came back to test that level you never even had that opportunity now why that's important it tells you how much demand was out there for stocks today that you couldn't even test this level so and nowYou're going to see this pattern everywhere when you start looking at this so you just had flag right and then you can just see them everywhere literally and then here's another flag and then another breakout and they just kept moving you up from flags and then those resistances became wide supportsOkay so what I would suggest knowing where this is you might want to jot this down that this 1444 level 1444 that seems to be a spot that is starting to formulate as a minor support and I'd call it minor because it was really intraday where these other levels wouldBe more major because they have more days associated with it right minor major hope that makes sense but it wasn't even The Usual Suspects that got us going out of the NASDAQ if you took it the NASDAQ 100 top performer today was match.com followed by BIDU JD PDD soAre we starting to see a little bit of a theme Here Constellation Energy so you're starting to see that before you start getting into the big dogs like Nvidia and obviously there are news that went on there we're going to close that off uh and I would just say this youKnow you've had one close that was a shooting star below so if you were to look at this pattern and we're going to get into this intraday but I want people to understand this because they're everywhere so if you understand these patterns right here we're gonna have toClean that off again let me do it this way because I don't want to get into that it'll be too confusing I'm going to get into it in a moment but so you can see that there's a line here enough I could make that thinner it'd be greatBut see where you have that line right here what you're going to want to do with that line is go okay well some will call this an abandoned baby shooting star I don't care if you call it a blueberry bottom line is if you break out like this you have a shooting starDown and then you gap down right your next bar if you break that level right there is always to the low of this bar or around there and in this case where was it it was right to the open held the open and you gapped up today okay youGapped up today and we talked about this in last night's video for those that were around and watched it and I think that's really important that you can start seeing how all these videos are connected you'll remember yesterday that we said we need to really watch thisArea right in here there's a possibility that this was a margin call it's pretty clear that this was a margin call right now guys it was completely indiscriminate and we've also seen at the same level that this happened with apple we can review Apple we're going toAnyway but you can see how this happened with apple and Nvidia at the end of the day it was just indiscriminate selling just like you saw indiscriminate buying with Tesla covering the short so someone had a margin call they dumped and then this was the opposite reaction to thatNow this was actually something that we traded a couple times in the community today and you can see that level here by the way I do read your comments and I was asked about live trades I'm trying to post one I should have one done by this weekend that I can actually walkYou through a live trade that I actually did uh and you can actually hear the live training from the community but I get asked about that a lot and I do read your comments so please comment on these videos it does let me know how to createContent what's helpful but what you do is you go to the bar where you broke so you broke right here right we can all see that break Bonk Bonk comes all the way down Gap up never fills the Gap then all you're doing from that bar on isUsing that as your stop never got there tested us never got there so once we flipped in here I bought some traded it out got stopped out the rest of break even got back involved and then got back involved later again but more importantly what I really want to walkThrough is this idea so you could see when you started to clear up here and break right but how do you know when to get out of Trades so this was a trade that I did today and my goal was to hold it to 401 and a quarter now the reasonI'm showing this is because anybody can do this and you might want to watch this part a couple times and I might actually make a separate video on this and a separate video on how to find stops so one of the things that I would justPoint out is once you get Wicks like this over and over again we know that Wicks are price rejection so when I got to those I sold 50 as I told everybody in the community I'm closing 50 percent so it doesn't and the reason I do thatInto it is because one's okay two's okay maybe a two is okay that third one it's like being hit in the back of the head to me with a frying pan like how many times you have to see that this bearish engulfing which is right here you shouldLearn these patterns but how many times you can see that this bearish engulfing is in control and if you look at that bearish engulfing going straight across we never got above it boom boom boom and then we flip okay so here is is your test of that level and you areChallenging the control of this bearish engulfing and you're challenging these Wicks tries to run up breaks back down holds here that is the rejection of the pivot right that's your pivot bar right here here's your rejection right in here here's your confirmation of rejectionAnd that is where I got out again if you struggle with stops and you're looking for a way you're going to want to pay attention to what I did there because there's important parts of that that we just went over okay we went over the rejection of the pivot and why that wasNot the trigger I wanted confirmation why did I have the ability to wait for confirmation because I sold into these Wicks 50 and then when you leave your other lines in your support and resistance you can see that this actually even provided another opportunity in the last 20 minutes ofThe day right resistance flipped to what support so I hope that's helpful if you want to see a video on stops comment below the more comments I see the more it lets me know what content to create page now there are three names I wouldLike to get into the first one I would like to get into is Tesla what you're looking at is from a website called Market chameleon anybody can go and look at this data and look at it for free using the free version that's here number one stock today notional volumeTotal notional volume today is Tesla it is not the s p it is Tesla that's big when one name has higher notional value than the entire s p and that means that something is going on and I want to pay attention to that now you can see theTrade count obviously is nowhere near as great as the s p but look at the total notional so that means whoever was making their bets on Tesla was making them on average bigger right than the average notional here now you see your 90 average notional is 2.3 but and youCan see your 90-day notionals 8.6 okay so if we flip this button right here from dollars and we flip that to contract volume okay and you look at the contract volume versus the contract volume here well it's four to one so you had four more con four times moreContracts on the S P today right than you had on the Tesla Now flip back okay at the same time that you've had four four times more contracts on here the notional value on Tesla today was 2 billion where it was 1.54 billion okay so it tells you that somebody's makingLarge bets when you get into the details like that you can start picking it apart because the 90-day relative volume why it's up it doesn't tell us everything then you come across and you see 36 percent 36.5 percent rather are in puts now what that does is let you know thatOver 60 percent of what these people bought today okay in their total volume okay we know now that the majority were calls now we would over this in Saturday's video and there's going to be more that we're going to go over this Saturday so make sure you do subscribeTo the channel click all notifications so that you're informed when Saturday's video comes out Saturday's video is usually much longer than these and you can watch parts of it as the week goes along it's all free and I do not put commercials in the middle all I ask isThat if you find Value you share it so you see your wedge line in here you always clone these right click clone button any service that you have that's a charting service will have that it's very simple you want the same trajectory you can see your wedge line and howYou're popping out of that wedge line right come in here and what we're going to do is just make this a 200 and then you're going to see that that's an EMA I'm going to use open high low close right here click on that and now lookYou're breaking out in a higher height so I was explaining this to someone they're like well the flag I said well it's basically like a pendant because you're you know flapping in the wind like the flagpole is not long enough and I'm just going to say this like don'tDon't get caught up get get caught up in the patterns and what the patterns represent don't get caught up in is the flagpole longer what is this called the important thing is can I make money off of this if so how where's my stop what's my position size all that stuff anyway IWould watch this this was a really interesting move today with huge huge options and someone's making a very big bet on the call side now if you just take a look at Tesla in the open interest that's here you can see this pretty clearly how all of a suddenThey're out there buying two twenties this is what their open interest is right now so they're out there on the 220s they're not out there buying puts up here right so I think that that's a very important distinction they're out there buying calls and they're buyingCalls out at 220 and now they start to go out to 2 30. now chart maturity meaning this shows we went through this yesterday let's go through it again open interest is updated every morning in the Market okay open interest is updated every morning on the market so the openInterest okay is not going to be updated until the morning so when you have volume chart maturity and where you're going to be in the pecking order this is going to show first before it's reflected in this chart the next morning I hope that makes sense so volume chartMaturity well you can see that you're over here right and you're at that 210 level but we know from what's above us that 220 and now we know that that 230 level as well is going to probably be a little higher than anticipated so they are slanting towards the out of theMoney calls on Tesla for whatever reason and they are starting to raise up where they're buying their puts for protection worth paying attention to avgo came out with earnings this evening and the stocks down about ten dollars we're going to cover the distance and whatHappens here so if you take a look at it they barely beat this is not what we are looking for at all we were looking for something substantive uh we were looking for some stronger guidance that we got so just to be really clear here we're gonna just point out a couple thingsOkay 10 32 beat the 1008 so 1032 is great that beat the 1008 that you were looking for 873 beat the 871. this is not in the video type of beat nothing ever is going to be very like that but broadcom second quarter sales okay we're 8.73 andThey're coming out and saying 8.85 to 8.72 estimate right so in other words what they're saying here is oh we think we're going to be better by a little bit and that's not what we were looking for we were looking for that just home run right and that's the reason why theStock moved lower and I think if you look at that it expects semiconductor Revenue growth of mid to single digit it's year over year okay it expects networking Revenue growth to be around 20 percent so people were looking for something a little more Stellar therefore it was a disappointment now ifYou look at the initial move caps up comes all the way down so we know that we're going to have to pay attention to this level tomorrow right there that doji 760 that's where you reversed you're going to want to make sure that you don't break that and then you canSee that into the conference call when they started repeatedly saying AI over and over again we actually got to eight and a quarter so you got a 75 Point swing here 65 point swing I would expect this to be very active either up or down pretty substantially tomorrow and it'sDefinitely something that we're going to want to pay attention to the way I played it was I had puts so that if I wanted to buy stock let's say when it was down here or bouncing around here and lifting it in the conference call I could just use the puts and trade equityIn this tab a stop behind me I guess all retail tell is not dead you have Lululemon absolutely setting up to break out what is crazy about these moves to me is that they move on this earnings that they keep staying in this range so here's what's last earnings and you wereDown forty dollars it was last earnings and you were up forty dollars so we break down on earnings comes all the way goes sideways for a period of time comes to this close right so your clothes is here which we're almost there before earnings and then they're going to GapUs up back to this one now this was a fairly decent quarter if we take a look at a quick snapshot here Lululemon sees fiscal 23 1174-1194 net revenue 944 951. these were all decent numbers here you are and you can see them net revenue it's exactly what we're looking for sees 247252 versus 250 estimate 214 to 217 versus estimate okay so and here you be and this probably was what I think drove us was just the fact that you crushed and none of these names are crushing right so you beat by 30 cents and you really just have not had any that haveKnocked the cover off the ball so here we have even though that their guidance was good not great the fact that you actually beat on the revenue front and beat on the earnings front the stock is being rewarded now if you take a look here these are the kinds of names youAlways want to pay attention to the ones that just rally and then they never even come down that bar this never came down that tells you everything that you need to know you have no sellers whatsoever in here right now because you couldn't even test any part of this bar and allYou did was go across spend about 20 minutes to 15 minutes here Max and then you broke out again broke out again and now you're at resistance I would strongly suggest that you put this one on your radar tomorrow and watch how it works of course you have non-farmPayrolls watch that 3 7 73.78 and we'll see what happens have a great night everybody