$SPY WEEKLY STOCK MARKET UPDATE CHANNEL BREAKOUT

Summary

The provided script from a trading analysis video discusses market conditions as of June 2nd. The speaker examines the daily chart, noting a bullish hammer candle despite a bearish cross down, indicating an overall bullish market. The support zone is identified around the 530 range, with resistance at 531. The script suggests watching for market movements around these levels, possibly with a pullback to retest 525 before an upward move. Bitcoin is also analyzed, showing a bullish trend within a $73,000 to $60,000 range, with the market expected to validate this zone before any significant moves. The speaker invites viewers to join live sessions on YouTube for further insights.

Takeaways

• 📈 The market is currently validating a zone between 525 and 532, with strong support at 525 where the market has bounced back after breaking fake.
• 📊 A bullish hammer candle has formed, indicating a potential bullish sentiment despite a bearish cross down.
• 🌐 The market is in a bullish territory with the MA (Moving Average) still suggesting a bullish condition.
• 🚀 The market's next resistance level is at 531, which is a key level to watch for the upcoming week.
• 💡 Market makers might play tricks with options pricing on Monday, as it's the start of a new week and options are expensive.
• 🔄 The market could either pull back to retest 525 and then go up, or it could go up and then face rejection, with either direction being considered healthy.
• 📊 The market has been consolidating for nearly 12 days, suggesting a potential breakout or significant movement is near.
• 📊 Bitcoin is currently in a bullish state, validating between $60,000 and $73,000, with conditions overall being bullish.
• 🔄 Bitcoin is expected to continue its bullish trend, with a possible significant move happening after the summer, possibly influenced by the elections.
• 🔗 For those new to the community, the speaker goes live daily from 9:30 to 4:00 p.m. on YouTube under 'Top Trading Edge'.
• 👥 Interested individuals can join the WhatsApp group through the link provided in the YouTube channel description.

Q & A

What is the current market condition discussed in the video?

The market is currently in a bullish state with a strong support level around the 530 range, specifically between 530 and 532, and also around 525. The market has been validating this zone with a bullish Hammer candlestick pattern.

What is the significance of the 525 level mentioned in the script?

The 525 level is identified as a demand zone, which is a price level where there is significant buying interest. The price being above this level indicates a potential upward movement in the market.

What is the next resistance level for the market according to the video?

The next resistance level for the market is at 531. This is a price level where selling pressure might increase, potentially leading to a reversal or a pause in the upward movement.

What does the speaker suggest might happen in the short term with the market?

The speaker suggests that the market might experience a pullback to retest the 525 level before going up, or it might continue to rise and then face rejection at the resistance level.

What is the speaker's view on the market maker's potential actions?

The speaker believes that market makers might perform some tricks for a day or two, possibly causing a pullback or an upward movement, as options are expensive and there is room for a $3 move in either direction.

How does the speaker describe the market's behavior over the past 12 days?

The market has been consolidating around the same price range for almost 12 days, indicating a period of indecision and a potential setup for a breakout.

What is the current condition of Bitcoin according to the video?

Bitcoin is described as being in a bullish condition, validating its price between $73,000 and $60,000. It is above the cloud, indicating a bullish trend, and the market is expected to continue being bullish.

What is the expected duration for Bitcoin's current validation phase?

The speaker suggests that Bitcoin's current validation phase might last for a couple of months, with the potential for a significant move after the summer, possibly influenced by the upcoming election.

What advice does the speaker give for new members of the community?

The speaker advises new members to join the 'top trading Edge' community on YouTube, where they live stream daily from 9:30 to 4:00 p.m., and to check the description for a link to join a WhatsApp group.

What is the speaker's final note on the market's overall condition?

The speaker concludes that the market is overall bullish, and they suggest leaving Bitcoin alone for now, as it is not showing strong bullish or bearish signals but is in a phase of validation.

Outlines

00:00

📈 Market Analysis and Predictions

The speaker begins by welcoming the audience to the Top TR G community and provides a market update for June 2nd, focusing on the daily chart. They discuss the market's behavior in the previous week, noting a significant drop followed by bullish movements. The current market is hovering around the 530 range, with 525-532 being the key validation zone due to strong support. A bullish hammer candle is observed, and despite a bearish cross down, the overall market condition is bullish. The speaker then shifts to a smaller time frame, mentioning a bearish cloud and a market break upwards, indicating a demand zone at 525. The price is above this level, and the next resistance is at 531. The speaker suggests potential market movements, including a pullback to retest 525 or an immediate upward movement followed by a rejection. They also discuss the possibility of the market makers playing games, trapping bulls and bears, and hint at a potential upward movement in the coming weeks. The support and resistance zones for the upcoming week, particularly Monday and Tuesday, are highlighted.

05:01

🔗 Community Engagement and Bitcoin Update

In the second paragraph, the speaker invites viewers to join the Top Trading Edge community on YouTube for daily live streams from 9:30 to 4:00 p.m. They provide instructions on how to find the channel and join the WhatsApp group for further engagement. The speaker then shifts focus to Bitcoin, stating that it is currently in a bullish trend, validating between $73,000 and $60,000. The market conditions and the moving average convergence divergence (MACD) indicator are both bullish, with the market continuously validating this bullish trend. The speaker anticipates that Bitcoin will continue to oscillate within the 60-70k range for a few months before potentially breaking out. They conclude by encouraging viewers to join the community for more insights and updates.

Keywords

💡Market Conditions

Market conditions refer to the overall state of the financial markets at a given time, including factors such as investor sentiment, economic indicators, and trading volumes. In the video, the speaker is analyzing the current market conditions to provide insights on what the market looks like and what might happen in the upcoming week. For instance, the speaker mentions that the market was 'bullish' after a 'big red day,' indicating a market that is showing signs of strength or upward movement.

💡Daily Chart

A daily chart in the context of trading and investing is a graphical representation of a security's price movements over the course of each trading day. It is used to track and analyze market trends. The speaker uses the daily chart to discuss the market's behavior over the previous week, noting how the market compressed and then experienced a significant downward movement, followed by a bounce.

💡Support and Resistance

Support and resistance are concepts used in technical analysis to identify price levels at which it is expected that buying or selling activity will increase or decrease, respectively. In the script, the speaker identifies 'strong support' at a certain price level, indicating a price where the market is expected to find buying interest and potentially rebound from a decline. The market 'breaking fake and bounce' suggests a scenario where the price breaks below support but then quickly recovers, which is a common trading pattern.

💡Bullish Hammer Candle

A bullish hammer candle is a specific type of candlestick pattern used in technical analysis, characterized by a small body at the top of the candle and a long lower wick, with little or no upper wick. It is typically seen as a bullish signal, indicating that buyers are taking control after a period of selling. The speaker mentions a 'bullish hammer candle,' suggesting a potential reversal from a downtrend to an uptrend.

💡MA (Moving Average)

A moving average (MA) is a widely used indicator in technical analysis that helps smooth out price data by creating a constantly updated average price. It is used to identify trends and potential reversals. The script mentions that the MA is 'still in Bull territory,' which means that the moving average is above the current price, indicating a bullish trend.

💡Demand Zone

A demand zone in trading is an area on a price chart where buying pressure is expected to be strong enough to prevent the price from falling further. It is often identified by a concentration of previous support levels. The speaker refers to 'demand Zone 525,' indicating a price level around $525 where there is significant buying interest that could support the market price.

💡Market Makers

Market makers are entities or individuals that stand ready to buy and sell securities at any time, thus providing liquidity to the market. They can influence prices through their trading activities. In the script, the speaker suggests that market makers might engage in 'little tricks' to influence the market for a short period, indicating that they could manipulate prices temporarily for their advantage.

💡Gap Up/Down

A gap up or gap down refers to a significant jump or drop in the opening price of a security compared to its previous closing price. Gaps can occur due to news events or changes in market sentiment. The speaker anticipates that the market might 'gap up and go' or 'gap down go,' meaning that the market could open higher or lower than the previous close and then continue in that direction.

💡Bitcoin

Bitcoin is a digital currency, also known as a cryptocurrency, that operates independently of a central bank or government. It is mentioned in the script as being in a 'bullish' state, validating between $73,000 and $60,000. This indicates that the speaker sees positive sentiment for Bitcoin, with its price fluctuating within a certain range but overall showing signs of an upward trend.

💡Top Trading Edge

Top Trading Edge appears to be the name of the community or platform that the speaker is associated with. It is mentioned as a place where the speaker goes live daily to discuss market updates and trading strategies. The speaker invites viewers to join the Top Trading Edge community on YouTube for more insights.

Highlights

Market conditions analysis on 2nd June, discussing the market's behavior and upcoming week's expectations.

Previous week's market compression followed by a significant red day, indicating a bullish trend and subsequent flush.

Market validation around the 530 range, with support at 525-532, indicating a strong support level.

Identification of a bullish Hammer candlestick pattern, suggesting a potential bullish market sentiment.

The moving average (MA) is still in bull territory despite a bearish cross-down, maintaining an overall bullish condition.

Analysis of smaller time frame charts to understand current market dynamics.

Market broke upwards from a bearish cloud and demand zone at 525, with price now above this level.

Expectations for the market to face resistance at 531, with potential for a pullback to retest 525.

Market makers' potential strategies for the upcoming week, including possible price manipulation.

The importance of observing the support and resistance zones for the market's direction on Monday and Tuesday.

Market's tendency to spend a significant amount of time around the same price range before a breakout.

Prediction of a potential upward movement in the 30-minute charts, suggesting a bullish outlook.

Discussion on market makers' tactics to trap bulls and bears, and the potential for a flush down in the future.

Bitcoin's current bullish validation between $73,000 and $60,000, with an overall bullish condition.

Bitcoin's market behavior described as a 'ping pong' effect, validating within a specific price range.

The potential for Bitcoin to break out and mimic past bullish patterns, possibly after the summer.

Invitation to join the Top Trading Edge community for daily live sessions on YouTube and WhatsApp group.

Transcripts

welcome to top TR G folks today 2nd June

uh Sunday let's take a look at the

market conditions see what market look

like upcoming wck fxks so let's look at

the daily chart daily chart if you see

this look at here what Market did

previously previous week not this week

but the previous week also they compress

here and then one big red day right here

and

then Market was bullish and then flush

right then they flush and then little

bounce and then they take it down right

and then they bounce

so this weekly trap they continuously be

doing but bottom line is they are

hanging in around 530 range so between

530 532 and 525 basically that's where

the market is being basically validating

this zone right here at the top why

because as you can see this is your

support right here strong support they

break fake and bounce right that's what

they basically they are doing right now

okay so this is right now bullish Hammer

candle right there ma is still in Bull

territory just the cross down so that

was the bearish but condition overall

bullish all right so that's what the um

overall condition on the market but

we're going to look at in the smaller

time frame and see what markets are

doing so as you can see right here the

cloud were coming in bearish and this

channel Market broke up upwards right

here and this is your demand Zone folks

525 right here and price is above the

525 so where Market is heading now 531

is the resistance next resistance right

here so now Monday Market opens up is a

fresh new brand new week starting right

so Monday options are expensive right

particularly all the stocks so Market

maker can afford to do little tricks for

one or two days so we what we we what we

should do probably if they want to go

little pull back retest

525 and then go up or just go up and

then rejection either one of them but

either one of the side is nice and

healthy because of quite a bit of room

$3 down $3 up if either direction go is

kind of you know healthy any Direction

they go so Monday would be a you know

great if Market goes down or goes up

you're going to figure it out whatever

they do we'll see Gap up and go or gap

down go either one of them but this is

the support Zone this is the resistance

Zone to watch for

Monday Monday right maybe Monday Tuesday

let's see how they play around in here

they spend too much time here look at

that 1 2 3 4 5 6 7 8 9 10 almost 12 days

around here in the same category right

there so yeah but this time look like

they want to little go higher that's

what it appears to me in the 30 minute

charts so probably they might break here

and trap all the Bulls same thing they

trap all the bearing go up right so over

here they trap all the Bulls and they

did this now they could go up and trap

the Bulls later probably in a week or

two and then flush down something little

but that's what they are right

now market makers are playing game

that's the update folks for the market

update okay we're going to take a look

at the

Bitcoin

okay Bitcoin

looking Bitcoin looking bullish folks

nothing much right now on a Bitcoin side

folks all right Bitcoin is still

validating in between $73,000 and

$60,000 range conditions are bullish

excuse me conditions are still bullish

above the cloud conditions and Market is

uh magd is also bullish is continuously

bullish Cloud condition the bullish to

so Bitcoin is basically ping pong

validating this between 60 and 70 range

right now so give a little time maybe

couple of months right or month or two

they're going to break fake like how

they break broke the floor and then

bounce same thing they break and fake

and come down like that they'll be keep

doing until few months and then the

election uh you know probably summer

time little bit after summer probably

they might go higher or something

whatever they will play we'll see but

right now Market is on particularly

Bitcoin is just validating folks it's

not bullish it's not bearish but

overall condition is bullish okay but

they're validating that just like that

over here they validated same thing over

here Val sorry over here they validated

over here now validating okay that's

what the Bitcoin is doing folks all

right nothing much today folks Market is

is just you know continuously Market is

bullish so we just going to leave it

alone and those who are new to the

community folks join the top 30 gaug

every day I go live morning 9:30 to 400

p.m. on YouTube um just type it in top

trading Edge one word top trading Edge

on YouTube all right and there a

description and the link if you want to

join

the WhatsApp group okay so see you guys

tomorrow morning 9:30 all right thanks

bye