$SPY STOCK MARKET UPDATE 9th JUNE
Summary
TLDRThe video script offers a detailed market analysis for the upcoming week, highlighting the bullish trend of the previous week and potential caveats. It emphasizes the importance of watching support and resistance levels, especially on the 30-minute charts, and discusses specific stocks like Nvidia, Bitcoin, Tesla, Apple, and Microsoft, noting their technical indicators and potential market traps. The speaker also stresses the value of education in trading and invites viewers to join their community for daily updates.
Takeaways
- π Market Overview: The market was bullish last week, but there are signs of a potential bearish divergence on the 30-minute charts.
- π Alert: A seller lined up on Friday, pushing the market down after reaching highs around 536-537, indicating a possible bearish signal.
- π§οΈ Bearish Divergence: The 30-minute chart shows a bearish divergence which suggests that despite the overall bullish trend, caution is needed as the market may be overbought.
- π Oscillator and Support: The MD oscillator is at zero, and the market is testing support levels around 531, which is a critical area to watch for potential bearish moves.
- π¨ Market Dynamics: The speaker emphasizes the importance of understanding market dynamics, including the impact of market sentiment and the potential for market makers to create traps.
- π Potential Downside: If the support at 531 breaks, it could signal a downward move in the market, especially for those trading on the long side.
- π€ Trading Strategy: The speaker advises to trade with the prevailing trend, whether bullish or bearish, and to be cautious of market traps, especially with high premiums after option expiry.
- π Technical Analysis: Technical analysis is emphasized as crucial for making informed trading decisions, rather than relying on market sentiment alone.
- π Timing is Key: The speaker mentions that timing is essential, especially with the start of the earnings season in July, which could influence market movements.
- π Nvidia and Bitcoin: Nvidia shows bullish divergence ahead of a split, while Bitcoin is in a bullish condition with a potential for a squeeze, indicating buying interest on dips.
- π Apple and Microsoft: Apple appears to be in a strong bullish trend, while Microsoft shows signs of divergence, suggesting potential weakness and a possible bearish move if certain support levels break.
Q & A
What was the general market condition described for the last week of the transcript?
-The general market condition described in the last week was continuously bullish, with the market showing an upward trend for almost six to seven days.
What is the significance of the 'bullish hammer' mentioned in the script?
-The 'bullish hammer' is a candlestick pattern indicating a potential reversal from a downtrend to an uptrend, suggesting that buyers have managed to push the price up after a period of selling.
What does the term 'squeeze' refer to in the context of the market discussion?
-In the context of the market, 'squeeze' refers to a situation where a stock or other asset experiences a rapid increase in price due to a lack of supply and high demand, often triggered by short covering or other market mechanisms.
What is a 'Divergent bearish' pattern and why should one be careful with it?
-A 'Divergent bearish' pattern is a technical analysis term that suggests the market is showing signs of potential weakness or a reversal in an uptrend. One should be careful with it because it might indicate that a downward move is imminent, despite the overall bullish sentiment.
What is the importance of the 'demand zone' in the market analysis presented?
-The 'demand zone' is an area on a price chart where there is significant buying interest, often resulting in price support. It is important because if the price breaks below this zone, it could indicate a change in market sentiment and a potential trend reversal.
What does the speaker mean by 'flow with the wind' in the context of trading?
-The phrase 'flow with the wind' is a metaphor for following the market trend. It means that traders should align their trades with the prevailing market direction to increase the chances of profit.
What is the potential impact of the Nvidia stock split on market behavior as discussed in the script?
-The Nvidia stock split could influence market behavior as it often leads to an increase in the stock's liquidity and affordability, potentially causing a surge in buying activity. However, the speaker warns that market makers might use the event to create a bullish divergence, which could trap retail investors.
What does the speaker suggest about the Bitcoin market condition in the script?
-The speaker suggests that the Bitcoin market is showing a bullish divergence, indicating potential buying interest. However, they also note that if the market pulls back, it could test certain support levels before bouncing back.
What is the current stance of the speaker on Apple's stock according to the script?
-The speaker views Apple's stock as looking very bullish, with the stock reaching an all-time high. However, they advise caution when considering a long position at such high levels, as the market could potentially experience a rejection and move downward.
What advice does the speaker give regarding trading during times of market indecision or 'ping pong'?
-The speaker advises that during times of market indecision, characterized by a small trading range or 'ping pong', traders should be patient and wait for the market to break out of the range before making trades, as this is when there is more freedom for the market to move and potential for profit.
What is the significance of the 'support' and 'resistance' levels mentioned for various stocks like QQQ and IW?
-Support and resistance levels are critical in technical analysis. Support is a price level where the stock tends to find buying interest and potentially bounce, while resistance is a level where selling pressure is expected, potentially causing a price decline. The speaker uses these levels to predict potential price movements for QQQ and IW.
Outlines
π Market Analysis for the Upcoming Week
The speaker begins by setting the date and context, discussing the bullish market conditions of the previous week, with a focus on the daily chart. They highlight a bearish divergence on the 30-minute chart, suggesting caution despite the overall bullish trend. The speaker emphasizes the importance of watching the market's reaction to the 531 support level, as a break could indicate a downward trend. They also touch on the impact of market makers and the potential for a bull trap, especially with the start of the earnings season in July. The summary concludes with advice for different trading styles, including zero-DT, swing trading, and intraday trading, and the importance of adapting to market conditions.
π Caution Amidst Bullish Sentiments
This paragraph delves deeper into the potential pitfalls of a market that appears overly bullish. The speaker warns of market makers' tactics to change gears when everyone is bullish, which could lead to a sudden dump. They stress the importance of understanding market ranges and the need for the market to move out of its current choppy state. The speaker also discusses specific stocks, including QQQ, SPY, and IWN, highlighting their respective support and resistance levels, and provides a brief outlook on their potential movement in the short term. The emphasis is on being prepared for market volatility and not getting caught in a potential trap set by market makers.
π€ Analyzing Divergences and Market Events
The speaker addresses the importance of being aware of market events, such as stock splits, which can overshadow technical analysis. They provide an analysis of Nvidia's situation, noting a bullish divergence and the need for the stock to break above a certain level to confirm a bullish trend. The speaker also discusses Bitcoin's market behavior, indicating a potential pullback due to a divergence but with an overall bullish outlook due to upcoming squeeze conditions. Tesla's stock is also examined, with the speaker noting its range-bound behavior and the high cost of holding options due to the stock's volatility. The summary advises caution and highlights the need for due diligence before entering any trades.
π Apple and Microsoft Market Insights
In this paragraph, the speaker provides an analysis of Apple's bullish trend, noting its all-time high and the formation of an upward channel. They advise against entering long positions at such high levels due to the risk of a market fake-out. Microsoft's situation is also discussed, with the speaker pointing out a bearish divergence, suggesting potential weakness and a possible downward movement if certain support levels are broken. The speaker emphasizes the importance of waiting for confirmation at critical junctures and not relying solely on predictions.
π The Importance of Education in Trading
The final paragraph focuses on the value of education in trading. The speaker shares their personal experience of losing money and emphasizes that education is key to avoiding such pitfalls. They invite viewers to join their foundation classes for a better understanding of market dynamics and to improve trading strategies. The speaker also mentions their plans for the summer and hints at reduced availability in July, encouraging viewers to take advantage of current offerings. They conclude with an invitation to join their WhatsApp community and YouTube channel for daily live trading sessions and updates.
Mindmap
Keywords
π‘Bullish
π‘Bearish Divergence
π‘Support and Resistance
π‘Market Maker
π‘Swing Trading
π‘Intraday Trading
π‘Divergents
π‘Stock Split
π‘All-Time High
π‘Technical Analysis
π‘Smart Money
Highlights
Market was continuously bullish for the past week, showing a strong upward trend.
Last week's market peak reached 536-537 before sellers pushed it down, indicating potential resistance.
Despite overall bullish conditions, a bearish divergence was noticed on the 30-minute charts, suggesting caution.
Market at the top high, showing signs of a potential pullback, with the MD oscillator at zero.
Demand zone around May 24th at 531 is a critical support level to watch for potential market direction changes.
Intraday and swing traders are advised to follow market trends carefully, adapting to changes in market direction.
High premium days post-option expiry may lead market makers to create bull traps, impacting short-term trading strategies.
QQQ shows a bearish divergence with support at 460, suggesting potential downward movement if support breaks.
IWM is identified as weaker than QQQ and SPY, with a critical support break at 2011 indicating further weakness.
Nvidia's upcoming stock split may influence market behavior, with technicals suggesting potential bullish continuation if above certain levels.
Bitcoin's market analysis shows a bullish divergence with potential for a pullback to the cloud, followed by a bounce.
Tesla's market condition is in a compression mode with a range between 180 and 173, causing premium burn for options holders.
Apple's market trend is bullish, with an all-time high at 196, indicating a strong upward channel.
Microsoft shows a bearish divergence, suggesting potential weakness and a possible downward move if support breaks.
The speaker emphasizes the importance of education in trading to avoid repeating past mistakes and to make informed decisions.
The speaker mentions a potential summer vacation, hinting at reduced availability in July for market updates.
Invitation to join the WhatsApp community and Top Trading Edge on YouTube for daily live trading sessions and updates.
Transcripts
top tring guys folks today 9th June
Sunday and uh let's take a look at the
market conditions see what market look
like this coming upcoming week as we can
see last week Market was continuously
bullish as you can see right here 1 2 3
4 five almost six seven days Market was
bullish right here all right now this is
the daily chart folks so we need to
focus here see what the daily chart look
like now if you look at the daily um the
last candle what you see on a Friday
week about the body means we Market went
up all the way to
536 537 right there and we got a seller
lined up and push it down so all these
bullish hammer and then we got a seller
lined up all right so that's the one
little alert to keep it in mind all
right but overall conditions are Cloud
conditions are bullish Market looking
bullish here mag in a b territory still
bullish right squeeze is also bullish so
everything looking bullish so 80%
looking bullish but there is a caveat
folks I just noticed so I just want to
show you something so we're going to go
back to the 30 minute charts right here
all right so what do I see here 30
minute charts I see a Divergent bearish
Divergent no need to be scared I'm not
trying to scar you folks barish
Divergent but we also need to be little
be careful right because Market is all
the way at the top high all the way at
the top that's why so Market is going up
up up and me says I want to go down so
if you look at it Thursday and Friday
Market try to push it up the seller
lines up and sell it correct so that is
the reason MD oscillator zero right now
we are if this magd enter into the B
territory like this over here then we
could go down so but confirmation is
demand Zone you need to watch here right
here this is your somewhere around May
24th right this area right
531 all right my folks keep this thing
in mind if you see this support is
broken on a Monday or Tuesday something
like that then be careful on a long side
remember whatever Zer DT people do those
who do zero DT you need to flow with the
wind if the wind is going north
direction if you choose your call you
can print money if wind is blowing South
direction and you try to buy the port
you print money if you're doing the
intraday trading okay just to give you
idea if you're doing swing trading also
keep that thing in mind but you need
certain confirmation Market is sitting
all the way at the top showing little
Divergent what if they could Bounce from
here 531 and bounce just like that they
did this second time so if this support
breaks man then you could print money so
those who are doing swing tradings and
all those things right they can also
print good amount of money if this
support area breaks remember that
because money Monday brand new week
starting lot of premiums are all the
stocks premium brand new fresh premium
right lot of high premium basically
Friday option expiry is less premium
Monday is high premium so Market maker
can afford to create a bull trap be trap
whatever they need to do but there's a
weekly trap monthly trap right there a
lot of game they plan system designs
that what to do with the weekly monthly
earning com in right because July month
earning starts now this is the only one
month so Point here is we need to be
very careful market look like sitting
all the way at the top right see what
they're going to do if this support
bounce we will be still bullish
continuation but if this support breaks
this area then we could go lower right
so keep this thing in mind okay so
that's for your 30 minute chart we're
going to look into 5 minute chart so 5
minute chart is not going to help us
more
out why excuse me because still
oscillator zero we are in the look at
the Smart money sitting right in the
middle at 5:35 right here so we are
still in this channel even in the F 5
minute which is way faster for last 3
days right here so this is the range
Market is playing between 537 and
531 we need to get out of this Zone in
order to be bullish in order to be
bearish until then just play the ping
pong so if you look at the daily chart
folks look at the small range like right
here here here this last two days
smaller range over here smaller you need
bigger big big candle that's where the
fun is all right so that's why we need
to get out of this Zone in order to move
so let's see what Monday Market do keep
this area in mind all right folks so
that is your uh bull side and be side
scenario most likely I I I gave you 30
minute charts which is right here most
likely it looking Divergent but we are
at the demand Zone we already one time
test so if you ask me everybody think
the market is bullish but I think there
is a caveat and the caveat is always
something Market maker loves when
everybody's bullish and they change the
gear you never know that is the reason
they make you bullish on Monday or
something and then dump and then Tuesday
Wednesday Thursday right they could dump
it down if they want to do like that
right you never know folks that's why we
need to add out as if the market is in
between here remember folks smaller
range remember small range you need to
you need Market to move out of that
range okay so plan accordingly folks the
market in between is just very choppy
choppy mean smaller range the market
moves out that's where the that's where
the freedom you you will have because it
in between here is like a you are the
marathon in the tunnel you don't want to
have the marathon in the tunnel because
you're going to bang around each other
each other and small Bond range that's
why right so we don't want we want the
freedom we want freedom Market to move
around a lot then we can print okay so
keep that thing you have to remember
sizing is important to understand all
those things folks very very little
little thing goes into the picture when
we go Day live when we go live every day
right you got to remember those stuffs
right so that's that now we're going to
look into
folks um
QQ same thing QQQ
has Divergent right here QQQ bounce so
QQQ support is 460 as we mention here
460
breaks let me get rid of this so 460 is
your support and the resistance around
this area which is four sorry right
here right here we need to get out of
this let the market break upward Market
downward on in between each Choy right
here small small cycle Fork so keep that
thing in mind uh there's a diverg
showing most likely we could go and test
this area right here 460 folks okay most
likely we could test same thing on a spy
look like a little bearish okay so folks
I would be focusing if you see any
bounce be
careful okay be careful for smaller
cycle means I'm not talking about long
long long term this is I'm talking about
Monday Tuesday only two days scenario
I'm laying out folks okay let's see okay
so it was a good bullish now it turning
little bearish okay but you need support
demand zone is right there we need to
break that demand in order to be more in
order to be proper bearish until then is
still sideway okay that is your QQQ also
area to keep in mind all right then iwm
folks okay let look at iwm remember what
I said folks about market update video
always I poting swing alert as those who
are part of the
um what do I say those who are part of
the Swing alert they all they know so
I'm just trying to tell you folks that
look what did I say that hey iwm is
weaker QQQ and spy still holding strong
last Sunday remember last Sunday when I
made that video look at that what did we
do iwm got a weakness and we broke the
support right here
2011 remember that is the reason I said
folks uh you know it's very very
important to know the market condition
before we take a trade in the during the
week when we during the week without
knowledge we take sometime it you know
we lose money it's far far better to
have a technical analysis front of you
every day so you can enjoy folks it's
just a $750 a month you can have all
every day I do analysis and you become a
part of a fit folks okay join if you
want but it's worth it um all right so
now
here iwm we broke the critical critical
area folks right here and hanging in so
where iwm could go now
so this area to watch IW all right so
now we remember we used to be there now
we got to come back to here this area so
IBM heading to 200 folks okay IBM
looking I mean iwm sorry not IBM iwm is
looking bearish all right so we look for
200 range area so if you are if you if
you see in the more Monday Tuesday right
conditions be any bounce is a good short
that's how I I think here it is so look
for this is bull side scenario
resistance right if it's if you see like
this then it could go down all right
that's the weakness Market has but last
few days we've been we've been weakness
iwm so keep that thing mind and see what
happened there's a bounce coming or not
but look like iwm has a there is
resistance 20184 so very very tight
range on IW folks weakness is there so I
would not go long if any bounce you see
I would love to short on IW I would love
short side than the long side all right
so this is iwm every day I I lay out on
the videos also those who are part of
the subscription pagee all right so this
is what I iwm looks like now all right
now we're going to look into uh Nvidia
everybody looking at Nvidia because
Nvidia was super duper bullish right and
then there is a Nvidia has
split coming in which is on Monday right
and see what the market maker could play
dirty game because most of the retailers
are bullish right so there are two
things you need to keep it in mind
because when there is a event folks
technical doesn't matter okay technical
doesn't matter anything can be uh
anything can be changed so what happened
here is when it comes to
Nvidia they are creating the diverent
bullish diversion here on Nvidia so that
means Nvidia looking little bullish that
was the bear is lined up but then it
looking bullish so if you want to be
bullish on Nvidia we need to get above
here folks okay so if you ask me I would
love to go NV Longs side because of the
um split but that's why all the
retailers are probably bullish God knows
whatever it is but technical is telling
me that if we break this then only
bullish 12 18 then you could go to
higher all right so if Market maker
wants to to trap you if they they can
bounce also go higher also if this get a
rejection remember folks there's always
coin has a two side if this get
rejection then Nvidia could go back to
same territory right
here which is this so several time we
test here and bounce so most likely okay
most likely if this time we get a
rejection from here and goes down then
we could go test here all right keep
this these are the area to watch for
folks Nvidia but if you break this then
I would go long all right so keep this
area take a screenshot if you like
remember disclaimer folks you have to do
your due diligent before you enter into
any of your trade otherwise could be
risky just because Josh said so no you
have to take your own decision folks all
right keep that thing in mind so that is
your Nvidia now let's look into
Bitcoin Bitcoin is
all right so Bitcoin is creating a
diverent we already tested here
condition is bullish we created little
diversion now again right here but the
but but but but the squeeze is coming in
so what does it mean means if you see
any weakness buyer will Lin up so we
might test the cloud or something this
area if they pull back Divergent and
then we could bounce all right keep this
thing in
M this is what Bitcoin look like because
of the diverent if they want to pull
back they can pull back to 66 this area
and bounce because of the conditions all
right so still looking bullish all right
that's your Bitcoin
then Tesla let's look at the Tesla what
Tesla look like Tesla is oh wow remember
we talk about Tesla
for some point of
time still the range is continuation
with
did not break any much area still
compression mode look at the Tesla folks
between 180 and 173 people are burning
their
premium so those who buying monthly
weekly calls puts they all are losing
money because T kills every day every
other day you holding your calls right
that's the game they're going on so
right now Tesla looking bullish to me
right it was looking bearish now looking
bullish little bit okay I'm not saying
bullish bullish no this is not bullish
bullish this is just the wedge so some
few days bearish few days bullish you
need to they're going to make this wedge
can break upward this wedge can break
downward earlier wedge supposed to look
like a breaking down and look at the
Trap right and they push it up now
they're going to say oh we're going to
go up up up and then we test this and
get a rejection probably go down that's
the reason I said train has to leave the
station
180 right here here and right here until
then is ping pong ping pong and who
loses the money retailers right that's
the game going on so plan accordingly
folks what you got to plan with the
cycle if you are in the wrong cycle
you're in a roller coaster ride and you
are an uphill you enter then it's going
to go down because you you think going
to go up you that's why you need to look
for the roller coaster ride how it's
riding look at what kind of ride it is
right you need to wait until that
whichever ride you like to get in right
so plan accordingly so right here this
is the game going on right now still we
the VES continue okay so that's the
Tesla
then let's look
into
Apple all right Apple looking nice and
bullish look at oh wow going going going
to Apple looking great folks okay apple
on alltime high
19600 so Apple looking look at that
Apple Man
yeah apple looking very
nice okay so Apple sloping support
building upward Channel Building look at
that so this is channel so in this
channel every time we test bounce test
bounce right this is your rejection so
right now Mar the Apple looking bullish
but we are at the top area so I don't
like to go at the top area because it's
all alltime high right exactly so over
here I would not touch going long side
and short side let the market decide
because I think okay folks I think we
had a rejection here
previously there your smart money right
so we'll see what would happen here
folks you need Market whenever Market
any stock is alltime high you know
people want to jump in in market and
break out and fake out and come down
right just like cycle you see the cycle
goes and down goes and down so they
could go and then down also right that's
you need to plan accordingly so what I'm
going to look into one hour chart just
to give you little idea right now Apple
looking bullish okay just to let you
know Apple looking bullish right so they
are on a breakout mode apple is on a
breakout mode so they might go how long
high will go probably 200 or
something all right so that's your Apple
then we're going to look into
Microsoft Apple is better than uh
Microsoft okay so Microsoft got a
diverent folks so Microsoft could be uh
now remember folks remember I said the
Microsoft once we break this we're going
to go higher right here right on um
Sunday last look at that and since then
we are going higher and higher now we
got a Divergent beish Divergent folks
okay so right here to here this is
going Divergent so there is a weakness
coming in
right I'm going to keep that thing
diverent so see if it is Bounce from the
cloud and then
rejection all right so this is your
support you
[Music]
need Microsoft to break this in order to
be barish until then is just hanging in
here Cloud can bounce maybe Wednesday
maybe Thursday maybe Tuesday one of the
day they can break this and could go
down most likely a showing weakness but
you never know you need to wait for this
critical Junction folks because of diver
this
diverent might bounce right here that's
what I'm thinking they could bounce and
then they could go lower all right so
that's the Microsoft area keep this
thing in mind folks these are the area
all right this is what the Microsoft
look like all right folks I guess um um
if those who wants to join the WhatsApp
Community folks right here is you can
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questions you have all right so I think
folks um we not going to have a July
month too much because maybe I'm
planning summer vacation
here and there so I don't want to
promise you you know anything but for
June month folks all right so we I would
say best thing to do is folks just join
this
one take this Foundation classes that's
what I would say take these are the
foundation class those who wants to
educate and say Josh I'm losing money in
the market please uh what do you guide
then I would say education folks stop
trading and start taking education and
learn that that is what you needed folks
otherwise no matter whatever you do you
end up doing the same thing what I did
Burns millions of dollar to reach this
level folks that's what I would tell you
education is the key all right so right
there folks you have this is the number
you can text me anytime you have
questions all right so see you guys
tomorrow morning 9:30 thank you bye
don't forget to click the like button
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thanks bye
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