Published: Sep 11, 2024
Duration: 00:15:59
Category: People & Blogs
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what's up guys it's Ray J back with another video and in this one I want to break down what's happening with spy Tesla Nvidia the QQQ and a couple of other tickers and break down with that is coming up for tomorrow with the trust is suggesting but just notes that I am not a financial planner so make sure you take nothing I say is financial advice and also if you guys can please check out the moon link if you deposit $100 you're guaranteed five free stocks deposit 1,000 bucks you're guaranteed 15 in total not to mention 8.1% apy on uninvested cash offer in a couple of weeks check it out before they run out anyways for the Market I just want to talk about how we're looking so right now spy had a very very interesting Trend in my morning video I mentioned there might be a little bit of a dip coming to the markets before we get a nice bounce that's almost exactly what ended up happening so if you look at the 30 minutes time frame we got a little bit of a dip on spy we uh opened up around this 5.56 area only to dump back down to 552 so we dumped we we dropped excuse me about four points and then we saw a lot of buyers coming back they started to push the market right back up especially after the first like 3 hours came in and then spy ended up closing around 559 which is not bad whatsoever very very strong close by spy so nonetheless we look bullish on the charts however we might start off on very very weak notes tomorrow we could see the market Gap maybe dip a little bit before we continue to attempt to go higher so going to break down exactly why that is now for tomorrow uh we're not going to be reacting too much data we just have export and import prices coming out in the morning which is very minor might not affect the market much and then at 10:00 a.m. eastern standard time we have the Michigan consumer sentiment reports the 5-year inflationary expectations and consumer expectations and more data like that so look for some volatility at 10:00 a.m. eastern standard time 30 minutes after market open we'll see how things go from there now tomorrow is also Friday the 13th uh it's going to be the uh second Friday close for the month of September I think it's very important because um we're going to be looking at a very crazy options chain so we have a little bit over 300,000 calls expiring and over 1.1 million of the puts expiring with 547 being max pain and 3.59 puts to call ratio so overall I just want to say the majority positions are in puts we have over a million puts expiring and we have a very very high puts to call ratio of the highest we've seen in a very very long time and as of right now it's the highest we'll see until like the very end of September so there's a lot of puts expiring could the market makers squeeze shorts or are they going to do something different we'll have to wait and see right now since is very close to neutral we are technically still at fear but we're getting close to neutral which gives the market more room to push momentum is back to Greed as we seen buyer stepping in and spy held it 125 daily moving average same thing with the S&P 500 and then also the puts and call option ratio went up because for the last couple of days people are continuing to buy puts more and more and more the 5-day average is what keeps on going up for the market and now it's starting to stagnate a little bit right here this is a sign that some puts are being closed people are continuing to buy calls trying to hedge that's helping the market push vix is dipping we're now below our excuse me our 50 daily moving average so that's a sign of weakness on the vix so so far the market remains a bit more bullish so what do I see for this moving forward as of right now spy looks more bullish on the 4our time frame got a very bullish looking green bar right here and when you look at the daily the daily daily looks pretty nice right now we are pushing up very very nicely trying to fill this imbalance so my prediction for tomorrow is we're going to be looking for a very similar Trend let me show you what this trend is so look at the last couple of days for the markets as you can see we are clearly uptrending but notice that spy had a tendency since Monday when we opened we saw a dip on Monday then we started to bounce back and consolidate on Tuesday we saw a bigger dip only to bounce back up we made a higher high on Wednesday we dipped really hard and got a big bounce today we dipped a little bit than we bounced so tomorrow I assume the same thing is going to likely happen we might see a little bit of a dip in the morning period that may cause us to dip uh to the next key support and then after that we might be looking for a nice bounce once again we could bounce considering the fact that we look bullish on the 4-Hour time frame uh we did hit some key resistance but we haven't broken it yet but that still doesn't matter because we still have potential the daily still looks bullish as well so we still favor the upwards Direction so in my opinion what I think is going to happen is this the first thing to remember is we have support at 558 then 556 and 556 fails us we're looking for 553 and resistance around this just just under 560 area if we break the 560 Zone we're looking for 562 and 563 I presume what's going to happen is spy will dip in the morning we might be retesting uh 558 if not we can even come a little bit lower to 5.56 then we could try to bounce and continue to push higher for that 560 Target I think we still will close relatively well so I presume that's the most likely possibilities for forming a giant like handle one could also argue that spy is forming a giant cup and hand for now approaching fomc this looks like a cup and then excuse me this is resembling like a handle so this might lead to more upside as well for ES we have a similar setup we have a giant cup and handle like structure we look bullish on the 4-Hour time frame uh if we manage to break past 5600 and hold above its tomorrow we're going to continue to squeeze up to about 5630 if we lose 5600 flat we'll be looking for 5580 as our main support I presume the most likely case is going to be that we kind of dip a little bit then try to get bought back up and we could be pushing into the 5600s there is still potential for this to go even higher we're holding up very nicely Nvidia looks bullish on the 4our time frame look at the support we have around this um 118 area not to mention 115 look at resistance at 120 not to mention 122.8 I think what's going to happen is NVIDIA might tip a little bit towards 118 if not a little bit lower to about 115 then we could bounce start pushing up for that Target of 120 well by 122.8 so there's potential in this to try to rebound uh I think we might dip a little bit to retest uh 118 if not 115 then we try to continue to bounce from there and push into the 120s that's the most likely case in my opinion 122.8 and 125 for Bitcoin we're completely range-bound if we lose 56,800 we turn more bearish we could be dipping for 34 we're looking more bullish for that 60,000 Target I think that's tomorrow we might be dipping towards the 57,000 area then we could bounce start pushing up higher for the 59,000 so look for a little bit of a dip and then a bounce after that the structure is technically more bullish because Bitcoin is making higher highs and higher lows look for a dip in a bounce is the most likely case for others out there such as Tesla Tesla looks very bullish I was talking how it might dip towards about uh 222 then bounce that's what my prediction was in the morning we actually dipped about 224 and then we bounce so went a little bit above expectations but the good thing about Tesla is this for the Bulls we are still bullish Tesla is still making higher highs and higher lows as you guys can see we're doing a good job but the issue hitting Tesla is the fact that we're hitting some tough resistance we have 230 as a tough resistance followed by 235 we've rejected off many of those levels many times we have support to watch for at 228 followed by 225 and then 223 happens to be our next 20 EMA hold by 29 19 so I think what could happen to Tesla is we dip a little bit again to 228 if that fails us we could go a little bit lower to 225 again before we try to rebound and start pushing for the 230 Target if not higher above that so's look for a little bit of a dip then a bounce after that we'll see how things end up going from here for NQ we look a little bit more bullish to me we're trying to push higher we have 19,500 resistance if that breaks we're looking for 19,600 and if we end up losing or rejecting off that resistance we could be dipping back down to about 19,250 so I think what could be happening is we may be dipping back down towards 19,250 we could try to bounce off this and start pushing higher if we break this resistance we'll be looking for a next Target about this 19,700 area so look for a little bit of a dip on NQ as long as we hold above 19,250 we will remain more bullish if we were to lose that we will be looking for a bigger dip but watch 19,250 is a key support I presume we might be dipping closer to that level then we try to back again if this is an inverse Head and Shoulders the next Target will be all the way up to about the 19,700 area so there's still more upside potential we could dip a little bit first before you try to continue higher so watch for that on the QQQ we reached our Target of 474 a level I called out yesterday as the bullish Target if we broke past uh 468 um we hit this imbalance already so this is going to be a tough resistance I wouldn't be surprised if we get a little bit of a dip from here we could be retesting 468 to 470 all over again then we'll see if we bounce off those supports to push up higher for another test of that 475 area so watch and see a little bit of a dip in a bounce and we'll see how things develop from here for Apple we're just consolidating right now we have resistance to watch for around this 223.50 or 219 I think apple is just very very sideways stuck between 217 and 224 we're going to likely continue to go back and forth I'm not really expecting much from there for others out there we have uh palent here and as a bearish i might be dipping a little bit I think we could be retesting 33.86 maybe a little bit lower before we try to rebound look for a little bit of a dip that's likely coming looking at this structure we could be re-entering the 33s then I'll be looking for a bounce after that for super micro I'm also seeing a little bit of a dip coming uh just like for spying the market I see a bit of a dip before we try to bounce again this might be dipping back down to the breakout area around the 430 area before it tries to bounce back up it reached our Target of 450 came short of 456 actually but came close uh simultaneously so look for a little bit of a depth before it tries to rebound overall it could be on a bit of an uptrend so it's still fine rivian we have this tough resistance at uh 13.89 our support to watch for is at 13.59 I think the same thing is going to happen we might be tipping to support at 13.59 to 13.5 then we could rebound and start pushing for uh just under 14 for Sofi we mentioned this was going to likely try to break out if we broke this resistance look pretty good I think we might get a back test of about 7 point uh 7.31 or maybe a little bit above that before we try to push higher and start pushing into the 7.5 area there's an inverse and shoulders leg structure we could dip a bit then start pushing higher so we'll see how things end up going for the iwm Russell 2000 we are looking at 212 as resistance if that breaks you're looking for basically the 24 area followed by higher levels like 216 if we end up losing supports and we don't break past 212 look for a retest of 210 I think we look bullish on this could dip a little bit then try to continue to push and it depends if it could break past 212 Tomorrow there's going to be a big test on this if this breaks we will squeeze higher for 214 but watch and see if 212 breaks for AMD we look more bullish right now we're trying to break out Above This 150 area look at support 148 if that fills us we're going to be dipping back down to 144 and if we manage to hold above 148 we could be to push up higher for 154 so watch resistance at1 if we break the 151 we're looking for 154 and then watch and see if 148 holds this support I presume it's going to be shuffling between 148 and 150 for a little bit longer then we could be looking for a push for 154 if we manage to hold above support for arm we look more bullish got a nice break of this resistance but we're at this tough area at this 140 area so the trend is more bullish but we're at tough resistance watch 140 is resistance and support around 138 I presume we're going to continue to shuffle for some time before attempting to go higher for 144 so give it some time to develop coinbase looks a little bit more bullish to me as long as we could hold above 159 I think this remains bullish If We Hold above that we're looking for a target of 167 or above if we lose 159 we could be dipping back down to 155 but this looks more bullish so watch for that for Amazon we look bullish because I was saying in the morning we might dip to about 182 then B we actually held above 180 183 and then we bounced so it did better than expected I think we might be trying to fill this IM balance so it all depends on the levels it's very simple basically if we lose Support over here at this 184 area we're going to turn more bearish we could be looking for a dip back down to the lower 180s and if we manag to break and manage to hold above 186 if we could hold above 186 I think Amazon will be squeezing up closer to about 190 so there's a lot of potential in this I think the odds favor upside as long as we hold above 6 so we'll see how it goes for meta we look more bullish to me if we end up losing hypothetically this five uh 524 area we're looking for a dip back down to 520 as long as we hold above 525 we're looking for 530 plus looking at the time frames we look more bullish I think the 4 Hour is looking pretty good and I favor a move to the upside towards 530 we look nice on meta for Microsoft we look more bullish if we break past 427 I think we're looking for 430 and if we lose 425 we're looking for a dip back down to 419 overall this is favoring upside so I think there's a good chance we push for 430 so we'll see how things end up going uh we could dip towards 425 again before we continue to pump to 430 but it still looks more bullish Google looks more bullish to me as well I think 157 is likely coming as long as we don't lose 153 we favor upset for 157 so it looks pretty good in my personal opinion for djt I mentioned yesterday might be dipping towards 165 if not the lower levels like 15.5 I think we could still reach 15.5 but we're going to be basing the 15s very soon so look for a little bit more downside before he attempts to bounce for the vix we are still looking more bearish we've lost our key supports and we have this Gap to fill down around 15 so I think what could happen is the market May dip a little bit tomorrow morning and start to bounce higher and this may drag the vix lower and we might eventually come down to fill the gap before we see a big bounce for the 10year treasury yield the 4 Hour is looking more bullish we're looking for basically 3.73 and this could be pushing higher if that breaks this will be affected by fomc but it might continue to downtrend the dollar got a big rejection I was talking about this in my video yesterday I know the dollar might be looking for a dip that's what happened as we hit that resistance between 101.8 and 102 so if we don't reclaim um 101.5 I think this honestly favors more downside it looks pretty weak right here forming a bearish Divergence and a double top so this may continue to fall as the market continues to push with that being said what's going to likely happen is we may see a little bit of a dip tomorrow morning maybe a gap down and then the market may continue to push higher most likely as we have a lot of shorts expiring and there's not really a whole lot of data the market may be very optimistic about the FED may be pricing in you know the rate cuts and such so we we're forming a possible cup and handle on spy and the market is getting dragged up higher so we still favor the upwards direction for the time being as of right now we look more bullish all right so that being said I'm going to make this video kind of short for today I just want to say I really appreciate you guys for your attention the Market's been very crazy the last couple of days as we're getting very close to FC I expect even more madness next week as we have fomc coming out and we're going to most likely get and most definitely we're going to get the first cut of the year so can't wait to see how it goes uh stay strong guys tomorrow is the last trading day of the week uh have a great day night or evening wherever you guys are around the world and I'll see you guys very soon thank you for listening I'll see you tomorrow before the Market opens for one more update uh until then uh take care and peace out