STOCK MARKET WILL SHOCK EVERYONE! EARNINGS SEASON IS HERE!

[00:00:00] Speaker 1: what is going on traders here to give you guys a quick update on my thoughts and opinions when it comes to the overall market if you like content like this if you want me to continue to make content like this make sure you like subscribe comment your thoughts below let's get to the video so in our last video we talked about how we believe the market is going to continue to see more downside and that's exactly what we ended up seeing we saw the nq drop we saw the es drop we saw the spy drop and more than anything else we saw the triple qs take the biggest hit of them all so the question is are we going to see more downside are we going to see a recovery towards the upside and i'm here to let you guys know that although i do believe we're going to see a massive recovery towards the upside i do think one more drop is very much possible here and the reason why i say that is because when we look at the nasdaq futures we've been creating lower highs since the beginning of june not only have we been creating lower highs but we've been trading within this range between 29 800 and 28 200 more or less so even if we get a recovery or some type of bounce dead cap bounce come futures open or even market open it is very much possible that that can lead into a lower high so for example let's say we bounce from here we hit this trend line so you got a rejection rejection rejection we hit this trend line at around 29 500 29 800 your 21 day moving average recreate a lower high and then from there we start heading as low as 27 500 now before you go crazy and start shorting from here if you want confirmation i will look for confirmation at the 28k if we break and hold below 28k so for example we want to see a break retest then from there we head towards 27 500 if you want more frequent updates on my thoughts or any changes that i have when it comes to the market discord link will be in description below earlier this week i let discord members know july 13th i believe that was monday that nasdaq is showing a projected move towards 28k and this was when the nasdaq was at 29 500 so if you're a free trial member take advantage of this while you can because i am getting rid of it or at least getting rid of the free trial pretty soon so take advantage of it but i'm updating this all the time guys so take advantage of it now when we get back to the overall market and we look at the es the es is giving us a much better view here and what's important to note here is that we are below some pretty major levels we're below 7 500 we broke below this trend so you had a bounce here bounce here and not only are you below those uh key major levels but you're below the 21 day moving average and if we're talking about a projected measure move you can head as low as 7200 right but my next target from here is 7400 if we break and hold below 7400 i would say 70 73 50 then chances are you're heading towards the 7200 range which i do believe would be the bottom at least for the short to intermediate term so if the futures market does open let's say we do get a bounce from here and let's say you know i'm wrong almost immediately i will look for a retest at around 75 50 before another lower high towards the downside if i want to be full blown bullish obviously i want to see a break and hold above not only 75 50 but a break and hold above 76 50 basically your previous all-time highs when it comes to the es so that's what i would like to see when it comes to downside or even upside when it comes to the es when we look at the triple q's here 695 695 is your key level guys and we've managed to close above now it doesn't mean that we're necessarily bullish but if we managed to open and close above or not open and close but open above 695 come market open it is very much possible that we are going to head towards that gap field at 715 716 but remember what i said it can easily lead into a lower high okay just like i talked about with the nasdaq even if we see a bounce or recovery towards the upside it can lead into a lower high where you just simply feel this gap at 715 716 you create a lower high you reject from there you head towards the 680s so again do what you want but i'm just simply urging proceed with caution proceed with caution spy spy still in this annoying range when it comes to the spy i think the es is just a will give you a better idea on where we're going to go but if you're looking at the spy here specifically 739 you got a bounce here you have a rejection here rejection here you have a bounce here so this level is very key you break and hold below 739 doors are open towards the low 730 733 729 maybe 727 so i will pay attention to this level when it comes to downside if we do see a bounce towards the upside again it can lead to a lower high where we simply retest 750 752 range create a lower high reject back towards the downside so something you want to pay attention to now when we are talking about seasonality right because you guys tend to like when i talk about seasonality when we look at seasonality shout out to nan for this the market historically tends to recover towards the end of july but come august and september you do get pretty significant drops as the market pushes through july traders and investors should be mindful that history suggests the calendar becomes considerably less forgiving since 1990 august and september have consistently ranked among the weakest months of the year for us equities a pattern that has earned the nickname summer retreat the historical averages tell the story august has produced average declines in both the dow jones industrial average you guys get the idea screenshot it all right but overall point here is that yes we can see a recovery towards the end of july because we are heading into big tech earnings but towards august and september historically we do see some more a lot more downside now when it comes to big tech earnings i wouldn't be surprised we see a massive recovery this week we got google earnings we got tesla earnings we got intel earnings if you want to count that so it's going to be a pretty important week when it comes to um the overall marketing where we can go when we look back at the charts here let's say you know big tech earnings decides to save the day we you know we recover bullish it is very much possible and i do think this is going to happen when we see a massive recovery towards this gap field we're looking at the triple q's here where you see a recovery towards 735 gap field on the triple q's and then from there we'll have to wait and see what happens we look at the spy there is a gap it's very well hidden but there is a gap all the way at 758 757 range so i do think earnings is going to play a part on whether we fill these gaps towards the upside but for now for the short term i'll say the immediate short term it's very much possible that whatever pump we get could lead into a simple lower high but overall i wouldn't be surprised towards the end of the week we see a massive recovery towards the upside guys hopefully that makes sense i know that i know i kind of talk fast and i kind of ramble but overall that's what i'm looking at when it comes to the overall market right i'm expecting some type of if we do get a pump i think it's going to be short-lived we dump towards the upside that'll probably be our final drop and then we see a massive recovery heading into big tech earnings we see a massive recovery we start filling these major gaps towards the upside at around 735 you know 757 on the triple q's and spy bitcoin bitcoin is showing signs that it wants to recover towards the upside so when you look at the daily time frame here there is an inverse head and shoulders pattern here what you want to see with bitcoin is a break and hold above 67 500 you break and hold above that so break retest you're pretty illiquid all the way to 75 74k range so bitcoin is something you want to pay attention to here on a weekly time frame however bitcoin does still look bearish so i've again this is something you just want to proceed with caution with and this is another scenario where this can simply lead into a lower high and so if we mark what i just said off on the weekly time frame or bitcoin and let's say we head towards you know 75k all you're doing is creating a lower high right you have a high here well high here lower high here and if you hit 75k boom you reject towards the downside you're creating a lower high so you know something you want to pay attention to here so like i said before and i'm going to continuously say this throughout the video proceed with caution proceed with caution i could be wrong i'm you know i could be absolutely wrong here i'm just saying be cautious of any upside we do get and get confirmation overall your grown man slash women make your own decisions all right so that's what we're looking at when it comes to the overall market and what we're looking at when it comes to bitcoin as far as individual names i'm looking at meta i think meta is on the verge of seeing a massive recovery when that happens i can't say for sure because meta is like kind of following the market but not following the market it's just a weird environment overall we're seeing a lot of sector rotations but meta is something i definitely want to pay attention to here if we look at the weekly time frame you reject it here you reject it here you broke this trend on meta and all you did was retest 625 630 and i do have a target of 750 when it comes to meta i do think at minimum that can happen when it comes to meta i guess i wouldn't say at minimum i guess that was i'll say at max at least for the short term minimum i will say 700 which is not really saying much but 750 is very much on my target list when it comes to meta so that's something i want to look out for or something you want to look out for when it comes to meta when it comes to other individual names such as tesla tesla looks bearish to me again guys i know it's confusing but you guys seen it yourself you're seeing a lot of these names do their own thing they're not really following the market you see maybe meta dump you'll see tesla pump you'll see vice versa you'll see nvidia dump you'll see apple pump this is one of those environments where you just have to trust your strategy on individual names and so when i'm looking at tesla here tesla does have earnings this week but it looks like it can see a little bit more downside and i'll be looking at a move towards the 340s maybe the low 300s range which is absolutely a buying opportunity for me when it comes to tesla we'll talk about that in another video so this is something i want to look out for when it comes to tesla if tesla matches break below 360 i do believe the low 300s is definitely going to happen and it's definitely on the table so tesla is a name that i'm somewhat bearish on i don't see a reason to really be bullish just yet obviously earnings can change that but we'll have to wait and see when it comes to tesla nvidia is another name that i'm looking at i don't really trade nvidia i think nvidia is just more so of an investing type name but nvidia is right on top of support here you want to see nvidia hold 195 if it holds 195 then chances are you're going to continue back towards the upside and you can start heading towards previous highs all the way at the 230s something to look out for when it comes to nvidia but for now if we manage to break and hold below 195 there's a chance we're heading towards 190 and your key level of all levels that you really want to pay attention to when it comes to nvidia is 188 if nvidia breaks and hold below 188 chances are you're heading towards the 170s all right so that's something you want to look out for if you're looking for some type of discount when it comes to nvidia coin is another name i'm looking at for a possible recovery towards the upside coin you need to see coin obviously you want to correlate this with bitcoin and ethereum but coin you want to see a recovery toward above 158.5 and then from there chances are you're heading towards 176 so coin is another stock that i have on my radar as far as the discord goes guys like i said you're genuinely missing out we have absolutely been crushing it in the discord right now we're in core weed calls we're in 100 strike calls for august 21st um we jumped into smh puts before we witnessed that massive drop on smh we were in smh 552.5 puts for july 20th at 5.85 ended up doubling our profit at around 12.10 so that was a beautiful play right there um absolutely crazy play right there um and yeah so if you want to join discord link will be in description below but we've been absolutely absolutely crushing it in the discord shout out to our newest mod siri he's been absolutely crushing it absolutely making insane bags i mean this guy has just been on an absolute rampage guys um another name i pointed out in the discord was meta i might not find it but i said meta will head towards 760 and siri took absolute advantage of that yeah here it is not 760 690 i said watch meta for a move to 690 i think this now this might be an old regardless i did say that meta can head towards 690 or 660 and you know he took absolutely advantage of that i mean that was insane play right there he made 10k off of that play you go to the winners tab i mean it's been a beautiful thing um we got like i said a lot of people jumped into those smh puts he made 500 shout out to him off that play um yoda i pointed out tesla can head towards that 390 gap field he took advantage of that made 600 off that play so we've already taken advantage of the weekly watch list i'm always putting out information yummy yoda he made 29k this past week alone just based off our analysis um our weekly analysis he's not even like going off alerts or anything he's going off my weekly analysis and that's free that's completely free you can join a discord on a free trial and you get that information for for to the beginning of time or the end of time guys so that's something you want to pay attention to um when it comes to the overall market this guy he made two thousand seven hundred dollars off the smh puts this guy right here ye he made 3 700 off the smh puts so it's been an absolute banger of a week when it comes to the discord so if you want access to that discord link will be in the description below here are the prices so there's no surprises you're not in the comments like how much does it cost that's too expensive right i don't want to hear none of that it's right here you can decide right here right now if you want to join if not good luck all right good luck to you okay but overall that's what i'm looking at when it comes to the overall market futures market will open soon by the time this video is out the futures market will be open we'll see okay we will see but if you have questions if you have any concerns or thoughts in the comments below please let me know and i'll be sure to read them or try my best to read them and until the next video traders have a good one