what's up guys welcome back to another video I know it's been quite some time but I've returned I'm going to start releasing videos more regularly just talking about different setups that I'm seeing in the market on specific stocks as well as the overall direction of the market and things to look out for obviously this week we had Nvidia everyone was looking at the earnings and they actually did beat on Topline Revenue as well as their forecast for earnings however the stock did drop after hours and that was primarily due to the fact that Revenue probably didn't grow as much as what investors actually expected as well as a slight compression in profit margins and they're down roughly 7% after hours so likely will'll be red tomorrow the overall setup on Nvidia obviously we had this big breakout to the upside after it broke through 95 and then it kind of topped out around 140 but the recent down movement in the stock market there was a strong bounce to the upside once we retested that level around 92 and then we broke back to the upside but obviously after hours that this is now back inside this pattern so if that holds if this line holds I fully expect us to Trend all the way back down towards this lower level and obviously some of these other a AI stocks I do think that we are in a similar do type bubble over the last two years that has built up and we're probably towards the end of that cycle I think that AI is such a new technology that it still doesn't quite know how to actually make money and so a lot of money has been invested into it a lot of people have been chasing these stocks most notably Nvidia and I think that there will be a larger correction in the overall Market looking at spy we're heading into September September is usually a down month just from like a seasonality perspective and then we also do have the First Rate cut that is coming in September so look out for that how the market reacts to that we might have some selling into it and then I do expect at least initially that we'll have a rally in the stock market once rate cut the First Rate cut does happen now the election obviously that's on everyone's mind I do think that once we get out to that election if you just look at the vix curve and if you remember back to 2020 we did have an initial sell into the election and then after the election we kind of know what to expect and then there was a rally actually a really large rally in 2020 when Biden was was elected so I do think we'll probably follow a similar pattern to that year so probably down month in September we'll have probably a bounce on rate Cuts people will think the coast is clear everything's going to Rally from there the FED is now easing they're dovish we'll have a move to the upside and then I think just like we did in 2020 with the internet.com bubble will'll probably face something similar next year so that's kind of my quick endur thought process on how I'm playing the the road map for for 2024 into 2025 um so maybe you know something like this we bounce and then we'll have a further move to the downside I do think that we're going to enter into a recession next year so really whatever happens here I think it's irrelevant we're going to have a big move to the downside after the election likely starting in the next three to 6 months so that's kind of what my road map I'm looking at I do think it's going to be a great time to start buying stocks for the long term once this larger move does play out and I'm going to be covering that all here on this channel just giving you a bunch of different setups to look at um so stay tuned for that hope you enjoyed this video make sure you subscribe I'll be posting more in the future see you soon peace