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STOCK MARKET LIVE : US FUTURES OPEN STREAM, CRYPTO WEEKLY CLOSE — Transcript · YTtoTranscript

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STOCK MARKET LIVE : US FUTURES OPEN STREAM, CRYPTO WEEKLY CLOSE

Mitch Ray · 9,549 words · 48 min read · EN

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>> Hello traders. Welcome to the weekly open weekly close stream. Could be both, you know, depending on futures versus spot for crypto. Uh really good news. Really great to see here. This is what we got to have. We had to have it, man. It's like mandatory at this point where we got Bitcoin buyers defending

the key inflections in the bottom of the inflections on 63 588. Buyers now recapturing 64 9. This is huge, dude. This could be it. I mean like if we're talking about technical stuff, price action correlating to key levels. I mean look, they're they're trying to defend this level for the second time and

re-breaking out right here. I mean this is hopefully it, man. But I don't really know. I mean there's not much like this this obviously has everything to do with futures. Stock market futures gapping up. You have S&P futures up 0.69%. Uh bottom of Nasdaq up 1.16% gapped up. So these gaps are going to fill, you

know it, dude. Uh Dow Jones up half a percent. Russell 2000 up 0.88%. So gaps fill, we know this. Where we are now could very well be opposite tomorrow, but uh good to see some relief, but unfortunately, the distribution is still like ongoing even with this gap up out the gate. As you can see, this probably,

I would say, the key level right here. I don't know. This stuff's screwed up, dude. I'm not able to use my tools here or something. Hot keys not working. I'm a keyboard What are they called? They call them a Wow, I'm a an S peddler. Cuz you're like back pedaling. Oh, yeah, you're just I'm a back peddler without

my hot keys. Still below that 28 660. Even you could be like, all right, man. What about this? I can't use hot keys. Oh my god. Um 28 6. So, that's just like your zone. The beginning here, and you're below it. So, obviously, they could continue to rally. This could back test it. The

thing is you could even recapture it, but if they're making like a lower high than 29 two here, it's just this more of the same of what we've been seeing go on. Just put in the highest high, big sell-off, attempted rally, 886 rally completed, that W shape confirmed the lower high, and then sold off, then a another lower

high, then that distribution started really becoming apparent. And um that's where we're at. So, it was all pretty somber close on Friday, but my god, man. This Bitcoin chart right here. What What if you just have your stop loss below 63 588? I said, that's all you got to do. Stop Own Someone owns Bitcoin, they have

their stop below 63 588. What is 63 588? I'll show you again, gosh dang it. I'll show you again. 63 588. Oh, oh, oh, it's that highest daily candle close in human history, April 2021. And then the wick high that they're recapturing right now, 64899. I mean, this is to the cent right here.

That's everything. Like, yeah, argument would be to not own the asset below that level, but they just confirmed that as support not once but maybe twice. Okay, easy enough. Where do you ride it? Probably to 70. You try. I mean, they're obviously going to attempt 67 K again. But if this is real, my god, I mean, you

got to have a good macro. Macro's not going to let this happen. The index funds start dumping. Yeah, we are screwed probably on everything, but it Bitcoin's been >> [sighs] >> Already showed you the fractal, right? Remember? The fractal, 2021, late 2021. When it was over, it was the inverse. It was this. This is where we are. It's

like right here. If if we're little living in fractal world, we're right here. So, the next things that happen, possibly, big green candles. Right? Look, you see it above my head right now. You see all these higher lows, different time scale, but you see the the higher lows here, November 2021, over the course of a week or two.

Correlation to the key level and then just huge moves. So, that's the theory here. That's That's where we're at in inverse opposite world, hopefully. It'd be kind of weird if it didn't play out that way, but just based on psychology, right? You identify these these structures, bots run the show. I it looks like someone maybe is

aggressively accumulating locally over the course of um 3 weeks. And now we're just if this is real, we're just waiting for probably 70K, 71K. Then to Jim RTA, yes, dude. Yes. Super vintage. It's uh you would say it's super patinaed, trader man. That's right, dude. It's like who We're not here to be like, "Oh, Nostradamus

here. Yes, I know what's going up or down." No, it's just like, "Hey, you can manage your risk pretty optimally with a stop below 63588. You know your upside's insanely good if this plays out." It's three to one minimum. I mean, really, what would it be even if like say you were just like "All right, I'm

buying right now, market order almost, right?" I mean, you could just if it's that it's just like one take profit. It's a 3.87 to one. You could give that a shot. You fail, you fail, whatever, but hey man, risk management. And you have some sort of an edge it look it seems like what, dude? My

keyboard not working? What the Then you go to weekly. Remember the weekly is the the gasoline, the tannerite behind this daily price action to the level. I mean, I know I hate how it's like, "Oh, four green candles in a row, bro." Let me hide this real quick. Yeah, no break of the major supply line.

But uh remember back above the 200 coming off the bullish engulfing candle, buyers recapturing the key 60K the old candle closes on the weekly from April. I mean, that being defended I it's just like, man, for this thing to like sputter out before seeing 70 would be I it would just be horrible.

Like if the technicals were going to fail that bad. So, I'm not I'm I I have more I think that like if the technicals are respected, Bitcoin does go higher soon. But not for a trend reversal, remember? Only for a a larger wave up. Sellers are exhausted even though they control this asset right now and they've

done that for shoot, dude, 10 months, 9 months. Um Those sellers that have been in control, uh we are I mean, it is being signaled that they're exhausted, and you can look at the significant time scale oscillators. Look at that, man. Your first level of positive momentum is about to be cemented. And you would just think, "Okay, we'll

get more positive momentum building off of that." And this comes off off the divergence. So, let's hope, man. Let's hope That's all we can do. Smoke opium, understand we're at a place where maybe we can manage our risk, but we have no expectations, right? We would be completely, uh you know, poker face

understanding if all this failed and we dumped. But we're just, right? That's what we do. That's Mark Douglas principles taught here. All right, we can go to Ethereum. Exact same situation on the weekly. Like primo type two return of massive M shape. I like it. It's a little bit better because it's just lined up with a

way I don't know. I mean, it's a pretty strong support there. I mean, 1730. Above that, back testing it. Same type of divergence on the MACD histogram, not the RSI like Bitcoin has. Uh you you kind of did maybe break a supply line here. Uh either way, yeah, I think we already talked about it. Either way you anchor

whether it's this one or this one, it's our it's broken out. And so you think like what what comes from this typically? A lot of times it can anyway. It can go 886. So, um the only thing I don't like about it is this this is such a shallow retrace, so pathetic. Uh and the the thing is with it like it

could still go sideways for a few weeks and then pump higher, but yeah, you have a really interesting weekly. No, it does not surprising if you been watching the streams. What's up, Jared? Yep, doing well, man. Hope you all had a good weekend. This is incredible. This could be an incredible development where you're just locally

looking at price action on Bitcoin above my head and you just see one low and a second low and both these lows are locally higher than this low. It's higher than this low, this low, and this low. So, it's just like uh trending short-term trend behavior on Bitcoin for now. And again, not just

that, the recapturing the current attempt of the recapturing of the inflection zone bottom and you the upside is insanely good. Like 10% upside if buyers can actually if this is actually real and not a fake out bull crap and the macro collapses, you know, then on itself, you know, so uh that just wanted to reiterate Bitcoin and

Ethereum here. We can go to the uh S&P 500 real quick, sorry. Up 0.67%. So, so choppy. Uh so difficult to um kind of visualize what's going on. They broke the the diamond pattern, right? Looked like a good diamond and then uh there was no follow through. Locally, they couldn't break 7,600 and then

rolled over and so you're like, "Oh, man, maybe we're confirming distribution here." And that's kind of the way it the week ended where it was like not a great weekend and then um sure enough, they gap it up on kind of nothing. So, you could uh you know, whatever. Diamond pattern, sure. We we like those for the

memes and the posterity. We love Thomas Bulkowski and all that, but you know, at the same time, it's like is that diamond really able to serve me? I don't really think it is able to serve me that well right now. I don't know how I'd I would play it or how I'd be able to take

action on it. So, yeah, I mean, there's just there's some decent level 7525 there. They can't really break that. That's the last thing that happened was they back tested that as resistance. So, just chopping, man. Super neutral. I guess we're just flipping to neutral here cuz they can't make a lower low and and they're unable to make higher

highs. That is certainly price contraction, and that is ranged out uh in the middle of the range, right? Like if you see like, "Oh, 7245 and 7600." In the dead middle. So, get your coins out and start flipping them while Bitcoin pumps to near its high of day, and and this is the

really, really nice price action that we we had to have. And we're getting it now. And so, that weekly optimism, cautious optimism, is still definitely there. No need to be a doomer right now on Bitcoin uh cuz you had all that time to be a doomer before. Oops. What did I just do?

Yeah, 60-minute candle, whatever. Doesn't matter. Yeah, not bad. Uh so, let's see what happens is the which way they're going to break it. The warring of the buyers and sellers is certainly still going on. So, I wonder if we can look at it like, "Okay, this is the top of the range, 7581 to 7620."

Uh really tough, man. Okay, so Dow Jones Industrial Average. Hey, look at that. They they took it to the bottom of the channel and they just gapped it up there, but you know, that gap's going to fill. They might fill it tonight and then might run tomorrow. Um but there wasn't really an edge or

anything like that. Just some down slipping consolidation. Not really a I don't wouldn't consider that really a bull flag cuz there wasn't really much of a bull pull behind it. So, you just get little corrective waves in uptrends. Okay, they don't have to have names. All right, we keep our eye on Bitcoin.

Above my head. It's amazing. Uh you know, right here where it's like, "Can we trust the rising wedge?" I mean I don't I mean we can trust it as like, hey it's a structure, sure. But, can we trust it as like a bearish reversal pattern? That's yet to be um foretold, I guess.

Crazy good uptrend, but I mean they're buyers are a little stagnant, aren't they? I mean we're talking 5 weeks. Really spinning the wheels, going nowhere. 3,000 such a psychological resistance, wild. So, yeah small caps still maybe have a chance to to keep doing their thing individually to individual small caps. But dude, small cap trading

is really tough, man, cuz the it's like crypto. I mean you're going to get 6 7% swings all the time. You better be really acclimated to that type of uh volatility. What's up uh a Haluka? What's up, dude? What's up, Beatshroids? Almost sending triangle those peaks weren't Yeah, well that's the thing though, Beatshroids. Yeah, I mean I

agree. It's like, oh is it a big sell wall? And then um they're accumulating. I don't think that's fair cuz like it's definitely not a sell wall. But dude, I think Bitcoin looks better than the index funds right now in terms from my a risk management perspective. This thing has been destroyed, but we

have like discernable pattern, the dragon. They already broke out of the dragon. They pretty much back tested the dragon breakout. Uh but it's just more about that fractal, that 2021 fractal. We flipped it over. This is literally 2021 one test the higher high and then the then this all of a sudden just

aggressive amounts of distribution going on and now we're just getting formal back test of key levels from history as support. And it's just like, dude there's wide open spaces here. All right, there just definitely is. I don't care who you're talking to. This is the exact same uh psychology I'm seeing that I saw in November 2021

in inverse style. So, we got Bitcoin highs of day 65 three right here. Let's see if this can continue to pump leading into maybe the overnight session when it starts at 8:00 p.m. Uh it doesn't look like you need much help Bitcoin doesn't need much help from these uh futures that aren't really

moving. I mean, they're all up like right of course that initial pump, but this is like a really good environment. I think I've been talking about the environment. If the index funds can just hang on then this that would be great, you know, if Nvidia can just get its act together and that trade setup can play out for

us. This has again 10% upside up to 71k 72. It's the 200 moving average wherever that that ends up by the time we get there. We'd probably be pretty fast. So, um just keep your eyes on the prize. Understand what's happening right now. Um the argument is actually getting stronger now. Okay. That's kind of what I'm here, man. Just

saying kind of the same thing I've been saying for the past week. Uh the weekly and yeah, the unfortunate price action we were receiving. Uh you know, the last latter part of the week, but regardless, this is a a really good development. Okay. So, we look at the futures. We look at the Bitcoin. We look at the

Ethereum. Um we can look at total, I guess. It's been a minute. I I know not really, but let me see if my works. Yeah, yeah. Still same thing. The dragon. You have a dragon pattern. Right? Same type of predictable pattern wave structure where we're just waiting on Bitcoin to to really run to the 70s.

And then if that happens, it it 2.22 trillion. Uh if they to that easy ride at 2.3. And you know, like I mean dragons, what are they 618s? Great 2.4 trillion. I would say probably just wherever the 200 moving average is, the price could run to that. That'd be just a common everyday dragon

tail. Where it where it runs to Fibonacci-wise, so. Uh, yeah, there's there's upside. You just got to break resist last resistance right here, man. This is it. Let's freaking go. Totals, I like totals. It's been a while, Jonathan. >> I like turtles. I like I like I like turtles. >> All right, dude.

>> I have some evidence ManBearPig could be in this area. >> Very good here, okay. Some some hope has been rekindled in crypto. Look at the 65 350 on Bitcoin, 24 minutes till the 60-minute well, an hour 24 minutes till the daily weekly candle close. So, uh, we can switch it switch gears to

gold and silver now, branches that are open. Uh, gold up already 1% on the gap up. In typical chop. You flip the chart over, you could like literally understand like why like okay, this whatever this move my god, dude, my Dude, my PC is F, bro. Y'all don't even understand how F my PC is.

You could you could get like kind of why like it does look like a little bit of stagnation up here with the candle close or the wick. Oh, man, look at that local back test on just Friday alone. Wow, the swing low they tested it as support. Are you going to gap it up already and just

start running? I mean, this is kind of what it looks like when market participants get tired. You got test, test, test. And you keep failing, so are they spring back testing as of Friday? Kind of tough. Tough to say, but yeah, I guess anything above 4022 is good right now. Trying to defend and hold it. Hmm. All right.

Up a percent, silver's up almost 3%. Man, this this market's nuts. Yeah, is the flag even real? I don't know, man. Maybe it's not. Maybe it's just Okay, my keyboard just doesn't work. Sorry. All these technical problems now, man. I mean, you can just look at it like a rectangle. Sure. Rectangling, dead

middle of rectangle, gapped up. Uh could continue for a little bit higher. Uh they might even take it at 6286 if they want to keep it actually contained within this. But um you know, these patterns sometimes from oh, whatever they were, maybe it's something else and that's where we're at. Look at Look at Bitcoin,

chat. 35 or 65384 right now. The highs of day. Continue to pump up 1.68%. This is huge, man. I'm telling you, this is like the level where if you cared, uh if you didn't care, it's time to care for at least a 10% wave. A 10% move up. This is it, man. [clears throat] I mean,

that is probably one of the last attempts, I mean, chances that sellers are going to have near here. Just due to all the failures they've had and this is the evidence of reaccumulation. Aggre- It's I would just say it's aggressive accumulation. Based on they made the the lower low, slightly lower low, and then all of a

sudden you just start seeing that. It's like, man, never forget 2021 when that happened the other way. So, we're in opposite world. Uh okay. Gold and silver up, risk on up, and then we can look at US oil destroyed, down 6.6% after a stupid run, man. Are you kidding me? What is it up? What was it up? It

was up 37% in 21 days. But yeah, it gapped down. The news my Iran every weekend the same bull crap making the market impossible to even like think about like you got to you just have to have a trading plan on a structure you know have your entry or stop loss and you got to let it ride you cannot be

paying attention to these moves like you just can't because Trump is like legitimately I don't even know what he's doing you know he just tweets and the market freaks out the algos and bots freak out and this stuff happens so it's a the very tough market to be participating in so you got to have conviction in your

trading plans more so now than ever like and again like what would be the play right now probably Nvidia probably you know we don't know all we know is structures and it's just like here's a key level here's the pattern yeah they couldn't break the neckline they were trying to break it out and

then the macro crapped out so bad on earnings Tesla dumping 30% in a week you know Google getting wrecked too on earnings and then it's like well it's really tough for Nvidia to do much in those conditions but it still isn't dead yet right I think your argument collapses or becomes invalid below 196

and you're just staring at it and you're just like man this is the one this is literally Neo of the stock market for sure still is people just forgot that it's Neo because it's been consolidating bullishly for like 8 months 9 months and you can just see like all this this base you know up here where you can see

the swing highs at 196 200 they they're flipping it now they're spending all this time above that zone and now they're flipping it and you're just seeing like maybe buyers are recapturing momentum maybe there's big 165 423 it's not going to stop probably man this is it this is it dude what is he doing?

>> Uh what is he doing, dude? Oh, Trump, yeah. Yeah, it's just a dude's clearly looking out for himself, um you know, and his own money, his family, and his administration's own money. I mean, like these moves are are kind of crazy, dude. Like not an easy market because of just headlines and garbage

and all that. So, uh Anyway, I you know, we'll see I don't know the DXY open. Bitcoin's still going. Yeah, gap down, course, right? But dude, come on. I mean [music] bull bull bull flag breakout. Down 0.16%. Ooh, like this thing is it looks like it's about to be confirmed Wyckoff accumulation. We're so close. I

mean, the daily you can even see like a really nice flag there. That is so pretty, right? If you flipped it, it'd be like we're cooked. I mean, that's like, "Okay, all the distribution, last point of supply." And then then the bearish back test Dude, that's as bearish as you could probably ever get it.

So, it's probably as bullish as as you could ever get it in this in this situation, I guess. We need like uh you know, you you need to see a higher high, and that would pretty much confirm it. So, What's up, Matt Cotton? What's up, uh Return of the Mac? What's order here?

What are you happy? Element of P, what's up, Brad? Yeah, dude, you're just I mean you're probably better off Whatever happens on Friday, you're probably in good shape to just inverse whatever that's going to be for the Sunday evening open. Uh due to just crap, you know. Um so, I guess we can do since um um

it was here on Friday. We can look at like the mag sevens weekly closes. Yeah, I mean the weekly close below 388 wasn't good on Microsoft and closed below the 200 week simple moving average also not good. Man, that's tough. They're struggling there. That could have been huge. Maybe uh they still got

a chance, but dude below 388 and the 200 weekly moving average on Microsoft, that's kind of really tough right here. Though I do get it. They're kind of trying to type one type two return. Um I I think like we just really want to be watching 388. If they recapture that, it might be good

for some upside 430 to 440. Damn man, this one's just been terrible, dude. Topped out October. It's just never been the same. Man, Google lowest weekly candle close confirmed since April 6th. Not really a big deal though. As this continues to drop, it's not going to be a big deal. This thing has

just been going. Uh nothing really in the oscillators. No structure here. I just kind of topped out. Um All right. I mean definitely some bearish divergence on the higher high in the RSI, of course. But okay, let's see if it takes out 275, it's probably fine until it does lose that. Amazon weekly

three That's a They That's an actual pretty much falling three methods bearish continuation pattern confirmed on Friday. That's crazy. Right? You got a five candlestick pattern. It's kind of off a little bit. I mean that still probably meets the criteria. Those nasty nasty uh and lost 6 plus percent of its value last

week and then did lose that critical 242 level. God, man. So annoying. So, I mean right? You want Nvidia to stay above the level it's above. You want Amazon to recapture 242. You want Bitcoin to correlate positively to this gray zone here. Right? There's just things you want assets to do and that

would give you more confidence to believe a bigger rally's coming. And like the ant This is like not what you were looking for on Amazon in the short term. Uh hey, maybe this week they recapture 242. Then we got a shot, but yeah, we just got to like deal with it. And you got earnings coming up also this

week, Thursday. Oh, speaking of Thursday, y'all listen to this. This is crazy. I mean, pretty sure this is like going to happen, okay? So, uh Jake uh has a company called MVP and they are merging with another company, Most Valuable Promotions, where they like you know, promote like fighters, MMA fighters and boxers and all that.

And there's this other company that they're virtually acquiring, but it's called a merger cuz the name's going to be MVP still when it's done, but Jake's going to be um at the He's going to be ringing the bell at the New York Stock Exchange on Thursday morning and I'm going. So, I don't know where I'm going to be

at, if I'm going to be in the front or whatever, but I'm I'm going to be like up there with him for that, introduce him to my Wall Street buddies, Peter Tuchman and them, and uh just have a a good time. It'll probably be some good content. We're going to screw around and act like we're making a

big trade. But, uh just like, what? Ringing the bell on Thursday. Tune in on CNBC. You might see me, you might not. I don't know how it's going to go, but anyway. So, Thursday, that same day, ringing the bell, Amazon will be reporting earnings, I think at the close. Uh we looked at it in the video already,

um but not on the weekly. Uh weekly is still like, yeah, you really want to see 212. I mean, they they can't break it yet, and it's just like come on, we're so close, dude. So freaking close. I guess they are holding that 202 high. So, just praying for this the inverse head

and shoulders to play out, and the long-term consolidation concluding with a breakout above 212 straight to 238.

What's up, Eric dude? Coffee. Sweet dude. Yeah, yeah, Harmonic Fisherman, it's lit as off. I don't know if it's off little mick, I might be, like I was on TV and we didn't like I was just like on the trading floor, like CNBC will be like talking in random spots, and like we walk by with our

coffee and all that. So, got a picture of that from last time I was there. Uh but yeah, let's look at Meta real quick. Damn, man. Type one reaction completed after they hit the supply line of the downtrend. Jeez, what a nasty close, dude. Like down 8% on the week, and they lost that

600. That's so This like what Oh, here we are on Friday, and this is all the stuff that happened, and it's just like makes you want to vomit, and it's like it's just not good. And then, derp a derp, you got Trump, and you got stupid headlines, and Iran. Close the straight, open the straight, close the

straight, open gap up, gap down. Freak out, like Yeah, so you look at this and say it's not very good and then you're just going to gap up probably 3% tomorrow and say, huh, back above key level and just dude, it's it's all so tiresome. Like this market's too stupid for me. Apple does

the king, dude. I mean, that's a crazy weekly though. Holy crap. I know it closed uh near all-time highs, but dude, is that I mean, that's definitely a potential hanging man of sorts. But it may not. Like if they just run this higher and close above 340 on the week, it's not a pattern, not a bearish

reversal. So, could be, but we definitely need a week for confirmation and we have earnings coming up on Thursday. Earnings big day on Thursday.

Wow, what a weekly close on Apple. And then Tesla, dude, horrible. Like Tesla I'm sorry, it was a it was a 20% candle. I might have been thinking more about TSLA. It was the lowest weekly candle close since July 28th, so we're talking straight up 52-week lows on the close. Uh wow. And you can see 294 to 300 how big of a

deal it is. You cannot lose that. If you lose it, well, it's probably going to you're probably going to 200. You'll probably lose a quarter a third of your value if you lose 294. I would imagine 294 to 300, maybe they overshoot a little bit. That's going to be a major battleground where I would

imagine buyers would try to defend that. Like, you know, big institutions like aren't wanting their Tesla to get that destroyed. Um they they might There might be some aggressive bidding at least at first at that level. You're not quite there yet, either. So, it's going to go down a little bit more probably to

go test and see how much liquidity is there. So, uh JT, man, it dude, it is literally a coin flip. Like a you know what happened? Apple was doing something like this back in the day. I think it was 2021. Maybe it was 2022. Maybe it was 2020 or 2019. I The good guy. Y'all look up when the good

guy get created. Whatever that year was. Uh Apple had already like I think broken into price discovery. It was at a 1.618 fib extension. It was already seemed overheated and then earnings and that the good guy, this guy he bought put options on Apple when it seemed like it was overheated going into

earnings and then they reported earnings and what happened? He was down $40,000 the next day at at open of the next day. Because he thought it was done Apple was done and it had been running and running. Perfect fib I mean he I don't think he was buying puts because it was at 1.618.

I think he was just degen gambling. And there was like a bug too on Robinhood where he wasn't supposed to be able to do that, but he he did and he was down 40k. So I think he was just a kid. I think he was like a high school kid, too. So yeah, Google negative cash flow.

Yeah, oh we can look at the mags. m a g s all of them It is kind of a very mix I mean it's just Nvidia's chart. >> [laughter] >> It's pretty much the Nvidia chart. Yeah, that's a really unfortunate I mean thing that happened that that high that old high from November

was up thrusted and then back tested. Not last week, but the week before. Really nasty close. So you better pray. Like if you flip this chart over, it's kind of super scary. Like this is the last thing you would ever effing want. I'm talking ever. Um this is the thing you would want more

than anything if you ever wanted to take action on longing an asset, okay? You have I know it's a down the downtrend sucks, right? But you have a low and you have a slightly lower low and you probably have bearish divergence on the weekly. Of course you do, on the RSI anyway, for

sure. So, the MAGS Mag 7 ETF does not look good on the weekly. It looks like oh and I what I'm not saying your trend is bad or anything like that. I'm just talking about it it's like these are the I mean this is a technical event. That's a technical event, the spring back test or the up thrust back

test of up thrust, which increases your probability more than anything that you're going lower. Right, just think of the psychology here. The the buyers would have run. They pushed it up one time and that was it and then I sell off and then the buyers attempted a rally here and they did breach the higher highs, but barely,

not for long and then uh market participants realized there just wasn't enough to keep it going and then you get the big red engulfing candle right back below that key level. That is the a definitive up thrust. It's what it's called. If you flip it, it's called the spring. Okay, when they lose the level, but

nothing happens and the buyers recapture that same level they lost, it's called the spring. And then you need the spring back test to confirm what was once support is now support again. They did that last week at the highs and that's what so bad about what I'm looking at here. So, I hope it's all bull crap. No big

deal, man, but that sucks. That like again, like I I'm being objective and just going by the book, that's the worst price action you would ever be able to see. I am out.

>> Caesar, you know how I am, man. Caesar, uh I'm to buy Tesla again, I'm going to want to see a structure develop, a big one. You are not in that right now. I would want to see something like this. I want to see that. Oh, dude, it might be December by the time we ever got

that. And then absolutely for a couple reasons, because think about if it did something like that, swing low, previous low to high, you're in that deep 786 territory, 200-week moving average is there, they lose the level, they lose it again, but then they eventually they recapture the level and then reconfirm it as support.

We're just talking about on the mags, right? That spring back test of spring, a formal back test. What was once a resistance is being confirmed as support again. I'm not the only one that sees that. A lot of other people have their bots programmed to see that. When that happens, that's a form of confirmation,

and you typically get stuff like this after. And then it'll probably the way it's been going, it'll probably do something like this, and then come right back down. So, unfortunately, like, you know, is it good to hold Tesla long-term? Dude, you got to look at their balance sheet, their debt. You got to do that thinking

for yourself. I'm not an investor. I'm not you know, financial advisor, right? Like, if you like Tesla, yeah, be an owner, whatever. But if you care about like, what's the point of this stream, just this stream, not any other stream. I mean, it they might be, right? But I'm saying, right here, we're just trying to

make technical arguments to the best of our ability, and that's what's a technical argument. We are able to identify a structure that's been in development for pretty long time that's near its tail end of development uh with positive price action correlation to a key level. It's the same thing. It's like a formula, right?

So, uh cut through that 618 like a hot knife through butter, so they could still like, you know, whatever. They could just do this and come back down. You know, like it's it's tough, man. You're not in an area where oh, there's an edge. You're impulsing down. There's never an edge when you're in an an impulse phase. There's

two phases, right? So, the market, there's the impulse and consolidation. Impulse, consolidation, whether it's trending up or down. Impulse down, consolidation. Impulse down, consolidation. Impulse up sometimes. Consolidation, impulse up. Consolidation, impulse down. We're in an impulse. We're in an impulse right now, so there can't be an edge. So, anyway. Yeah, it's rough, dude. Rough days for Elon.

Uh let's go look at SpaceX, I guess, since we're already we're here anyway, you know. SpaceX We're going to explore space. Uh thanks for the 446 people tuned in. Uh yeah, if you're enjoying the live stream, hit the like button and the bell and sub. Good to see y'all. Um just cuz like we, you know, dude, if you're

listening in right now of the 450, um you probably been around a long time. Like you've been like a sub and stuff. You know, we've seen better days in terms of like hype and sentiment and relevance on this channel and stream. So, like if you are still here after all that, man, you are a real one. You're

you're my realest ones, all of you watching. So, thank y'all for that. Uh been You know how long we've been doing this. I mean, we're 8 and 1/2 years into this. Uh just trying to provide traditional technical analysis, uh some education, and market updates. So, I am very grateful for y'all, for real,

after all this time. It's We've all We've got all gotten a lot older, right? Some of us not as much, but um yeah, here's your SpaceX. It's terrible, dude. I just don't even I'm I'm glad that they found uh some bids at 111, 112 Thursday and Friday, but dude, it's at the end of the day, literally

end of the day on Friday, it was the lowest daily candle close ever again on SpaceX. Yeah, like uh I I don't know where the floor is going to be. You got to wonder at some point they'll give you a reflexive rally. There will be a short squeeze for There's got to be a short

squeeze at some point. It But you are Remember, the SpaceX chart is the biggest form of casino you could ever have right now. This is You're flipping coins, man, praying to God that this is the bottom and you're going to get a rally, and the rally will be short-lived and will end up much lower than the

previous high and will probably roll over again for a second test of a bottom, if they ever put it in. So, earnings, who even cares? August 6th, unreal. 10 10 days, 11 days from now. Why do they even have earnings this early? Where are you? You've been here since 2020. So Flo, you said you started watching me

when you're 20 and now you're a year away from 30. Yeah, dude. Time has flown. Well, hopefully, you know, you are who you hang out with, you are who you listen to. Hopefully, like if you listen to me, you probably, you know, you know, you're not like watching someone who's doing something stupid, so

you will hopefully influenced positively by me over your 20s, and that's I think people watching me in their 20s is the perfect time. 30s, too, is great, but it's good when you're in your 20s, cuz I started learning about technical analysis at 22. So, um you know. Yeah, we can look at Intel, yeah,

whatever, man. Hold on, my effing And the motherboard has been This motherboard I'm using that I think's about to be cooked, man. I was late to stream cuz it I walked in and just things were wrong. Uh yeah, so Intel here, I mean is it the end of the line? Could be. They might gap it up right up course.

Like what's going to happen these stupid markets? Like they gap it up and it's up 3%. Oh my and it's still like below 10250. Right? It could just be a range that they lost. Even if they rallied it, you'd have to like worry about wherever the rally concludes going to be a lower high than the high

from late June, early July. So, it was the lowest daily candle close confirmed on Friday since April 28th and I mean, are the cracks coming? Are they becoming more noticeable now, the cracks in this high-flyer psycho memory stock mania? Cuz there is plenty of downside if they want it to be over. There's so much

downside. I mean, this is You can almost look at this like S-coins. Remember what S-coins would do? They would do stuff just like this. So, I mean, Intel and like you look at the weekly on it. You would do that? No, no. The weekly lowest weekly candle close since April 20th, right? You mean

it's like a high. It's a slightly higher high. Is there There's probably a little bearish divergence. It might be over, it might not be. I mean, I think like What would be wrong if they took Intel to $76? That That July 2000, August 2000 high. What What would be wrong with a back

test of that? What You know what that would mean? The consequences of somebody that owns it high. They'd have to take another 17.5% haircut just before the first potential bullish back test of the old all-time high from 2000. That's insane. So, it's like probably would be good to wait for prudent to hope for that and not do anything

right now, but you be you you do you, king. And it's probably the same type of situation you got on the other ones. I mean, AMD's freaking nuts, dude. That thing swings so much. I mean, it was a very mild week, too, but it was so volatile. I mean, the swing from the low to the

high. I mean, a 12% swing, 12.3% swing. What's up, Kelly? >> I'm with you since hyped on crypto days and beyond Matt Beasley days. Thank you for the great streams, Mitch. >> Uh Kelly Brown, thanks so much for the 10 euros. And my god, yeah. Those are names I've not heard in a

long, long time. Yeah, those were the those were the days. We never We haven't seen drama anything like that in all these years since back then, man. It was It was a Maybe there was some allure to that. Maybe that was you know, people were into that, like the drama. Oh my god, you got to

I'm going to crypto screw and you, dude. You got to like I mean, you got to make a change, dude. Oh, Matt Beasley's he's going crazy. He's going nuts. You got to get out of there. Liberation streams, right? Start your own channel. Dude, those things Those were times were crazy, man. It was like

uh you know, when the Earth began to form, it was all like crazy, just molten and lava and it was just uninhabitable and then Earth just, you know, then all all the tectonic plates shifting and all that, crazy mountains. And then now it's there. We still have that over time, but things are a lot more

chilled than they were at the beginning, the genesis of my streaming journey. Uh what's up, big tits? Thank you for the uh two super chat, man. Much love. Yeah, the drama was freaking nuts. Um So, AMD, just another high flyer that's just up there that could continue to climb, for sure. I mean, I would imagine

if Nvidia can get its act together, I mean, these might have a a show, too. They might have a part two boogaloo. Yeah, um Intel, and then Micron, MU, real quick. Just look at these freaking high flyers. You know, it was up 8.48% on the week. You can barely even like how how was this thing up that much?

last week. And just right, you're just looking at something that's gone insane, and it could continue to go insane, man. Or it could be literally over, and we don't know it yet. You but you definitely are in some sort of final phase of I mean, this is what market mania This is 2000. This is 1998, 1997, '99.

This is what they all look like. In the moment, we didn't know though, but you had pullbacks, right? You can go back um and see like the same type of stuff back in '99 where you would have like crazy pullbacks, freakish. But dude, look what happened in a week. Micron, okay, think about it. Up 21%

March 13th week, 2000. The then like a couple weeks later, it's down 6.5. And then then 2 weeks later, it's down 25%. Then the next week, up 30 30%. Then up 11% in the next week. Then down 13% in the next week. Oh my god. And then it actually get goes freaking higher. And eventually, once it

broke above that ceiling it put in, it was up 22% in May 2000, ran all the way up in the next 41 days, 37%. And then it was over, but it was really hard to know. And but if we look back, we can see that there was some type of like deep retrace, 786 high to low. They

attempted a rally, made a lower high, and then once you broke that that B point, I guess, that swing low, that was when it was just completely over. So, my god, the volatility back then, and I think now, is kind of testament to where we are. We're not in some normal consolidation do we are in

somewhere in here right now on Micron and Intel AMD. Okay, you just you don't it. So, we have it The good news is, I guess, is you have you do not have a weekly discernable lower high. Where if they did something like this, we would probably be screwed. We might very well be screwed on Micron. If we

get that visible on the weekly, good news, we don't have it yet. So, there might be insane upside. They could take us Oh my god, it's up another 30 2% and be make a lower high. So, this is very This is where you can get completely financially destroyed. You can be destroyed. Uh

you are virtually a snake handler uh when you're trying to participate on assets that look like this on a chart. You are snake handler. You you And there's no antivenom. I mean, you might die. So, okay. Uh but there there are other ones lots of other stocks out there that um you know,

doing things. [music] One of the semiconductors real quick, let me pull these up. Yeah, like Marvell, crazy. This one's just been getting beaten down a whole month. Had a terrible close. Oof. Yeah, but this is this is like what'll happen. You're trying to buy into the moves up like this. This is what can

happen to your portfolio so fast. SMCI was one that was already destroyed. But this is like kind of psych- I cannot even believe what I'm looking at on SMCI. This is like a landmine to destroy your soul and portfolio because of all the the I mean there is like legit fraud and stuff going on on

this one. But do look at the effing weekly. This is unbelievable. It was up 3.5% up 24.4% last week. Look where you are. You have the M shape. You got kind of a spring back test. Literally at 2341 like undeniably it could be a type two return in the making. I it it's bullish

divergence into convergence. It's like actually I can't even believe it. Maybe you know you don't have to take action on this one because it's so like Why does it look like this when everything else looks so good? Cuz fraud and probably a lot of bad things. But my god if you're talking about a

harmonic trader standpoint on the weekly it's phenomenal. It's like kind of unbelievable. Oh man I don't Scott Carney looking at this one on the weekly? Probably maybe? I know he looks at a lot of stuff. But I'm just like dang dude why does it look so freaking good? But why is it like a fraudulent? Why are

they committing fraud and stuff? God dude it's it's wild. So I'm not going to apologize to everyone being like dang dude this looks like crazy good.

Oh my god dude my PC is so effed.

Okay unreal. Unreal You'll You'll notice like nothing else really looks like that in the the semiconductor space. I mean like look at Intel, Micron, AMD. Oh, Broadcom? Broadcom, look at it, man. Just higher highs, higher lows. Higher highs, higher lows. Nothing till September. No earnings till September. Um Uh flip your coin. It could continue It

could go back to 491 again. Or they go back to 325. Like whatever. Just not like SMCI. ON Semiconductor, um all-time highs. But, you know, has been pulling back past few weeks. Back below 100. Back below 110. So, uh but no structure. Uh Qualcomm. My god, dude. After hitting all-time highs, it's, you know, it hit freaking

260. From that high, I mean, it's down 36% in 55 days. Below most supports. No edge or anything like that. I'm just kind of showing you. Texas Instruments, it hit all-time highs. My god, it was so pretty. Reaccumulation stuff. It could be rect- It could be rectangle. Uh but it's high risk, man. I mean, this

thing like they could take it all the way back down to 230 or 220 for a bullish back test for the first time ever, and it wouldn't be a big deal. So, just yeah, you're in high risk areas up here. Taiwan Semiconductor, uh another one where it just kept going, right? Like remember the rising wedge was beautiful,

played out. Performed uh pretty good. But still uh just ended up making higher like they recaptured 141, and then it ran higher. So, um that's that's pretty much the best-case scenario for a bearish pattern and extremely bullish trend. That's That's what you're going to get. So, um man, what a trend ever since, though.

But that is 5 weeks of red candles. Look at the daily, maybe. Shoot, man.

Trying to hold on that 390 level. Dude, you're just uh you're this high, this long, so difficult to want to buy it. That's why like SMCI looks so interesting cuz it's like like your chance for like cataclysmic drawdowns way lower in such short period of time. They're just lower when you're identifying M shapes completing on the

weekly with springback tests and type two returns. That's why we like those. When you got looking at stuff like this, it's like when when is the the music going to stop on musical chairs? When are they going to just rug this thing? That's what it looks like, you know. Anyway, um so 48 minutes to the weekly candle

close. I've been live now for an hour. If you're enjoying the live stream, please hit the like button, hit that bell, that sub. Thank you all for being here. Yeah, a lot of stuff going on, man. This is huge though on Bitcoin. Like I got I mean, forget everything else. Like okay, yeah, not much opportunity on the high

flyers cuz the opportunity played out. It already happened, right? Until my accumulation, look at the results. Holy crap. 600% whatever, but like Bitcoin been destroyed for so long. Now after 10 months, we can say there's something redeeming about it. Been trash talking Bitcoin for a long time now, and it's like, hey man, above

63,588, you got a chance for 70K at least the 200 moving average, 72, 71, wherever this it gets to. Uh but we got we got a chance here, dude. It's still a dragon. We got ourselves a bullish dragon pattern. We got a a fractal from 2020, an inverse fractal from 2021, which is what you

want to see. Aggressive accumulation psychologically, locally. And yeah, I mean, we're just waiting now for higher. And that argument will stay valid until buyers lose 63588. Then the argument isn't really there anymore.

Covered it right before the move. Beat roads. Oh, well, there you go. I mean, it looks just kind of crazy. Uh SMCI, they've had an ongoing problem with the like I don't know, like their books. Haven't they been audited before or raided like oversee Yeah, there's just stuff you have to read into it, but I

don't know the exact uh thing with it, but um okay, y'all. Well, this is why I came live, man. I I came live to just say hi to y'all, give you the market updates that you you want, try to give you the value, try to provide value to you best I can. And um yeah, man, like um

I hope you all have a good rest of your Sunday and take heed of Nvidia and maybe Bitcoin. But again, Bitcoin or Nvidia above that key level that 195 196 level. That that is so good. And [music] if we can have the TA be respected on video, it would propel the entire macro.

It would It would carry everything including our precious Bitcoin. So, we're really praying for that inverse head and shoulders on Nvidia to actually be real and break out and run to all-time highs for the sake of everything we hold dear in the market. All right, y'all. Thanks again for everything. Y'all the best. Y'all are the real ones.

Till next time. Respect. Good to see you. >> [music]

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>> But will be your destiny. >> Be your destiny. Destiny. Destiny. >> [music] >> Destiny. One. One. >> [music] >> Are you lightning or thunder?

>> [music] >> Define. Hopes and dreams. >> [music] [music] [music] >> He says ambition is timeless. >> [music] >> Will never be here nor now. >> [music] >> Only. >> [music] >> Only. Only down before. Only you rise again. >> [music] >> But they couldn't be like you. you? >> [music] >> Like you.

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