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in today's video we're going to talk about what Michael bur just did is it time to buy the dip out here in stocks or should we hold off this week is going to be action-packed with lots of volatility in the market and what Trump just said could move this one market substantially last week we saw a lot of volatility in the market and Nvidia on Friday was actually able to close up 78 cents if you guys remember on Thursday Nvidia was down over 62% at the low and it closed relatively high on the session now is this a sign that we're going to start to see stocks bouncing this week we come over and we look at this chart right here this is going to be a chart of the Spy versus hyg now think about hyg high yield grade bonds as smart money and as the S&P has been goinging down what has hyg been doing it's basically consolidating right up here looking like it's priming for a breakout so was the move down this week nothing more than shaking out some of the weaker hands then we come over and we look at the Dow Jones vers the transportation Index this is where it starts to get a little bit dicey we can still see the transportation index on the bottom keeps making a series of lower Highs but we saw the Dow Jones basically right up here near all-time highs in the market now will we see the transports this week starting to firm up potentially going higher because as we look at the yield curve we know it's been inverted for quite some time in this red line right up here basically signals when the Y curve were un invert and that's normally when we're in a recession and bad things happen out here in the stock market now if you're thinking about buying the dip this news article from market watch says never mind the post PC stock rally it's not yet time to buy the big Tech dip that strategist says well if we look at some of the big Tech we already talked about Nvidia Nvidia showing signs it may want to firm up we come over look at smci smci was actually able to take out the high from Thursday however it closed with a dogee candle but still eak out a gain of 2.38% well what about Microsoft we come over look at Microsoft Microsoft made a new low on Friday and then came right back up Microsoft closed up 1.64% but when we look at Microsoft this is where things start to get a little bit dicey because this could be a larger A to B equals c Tod pattern and that gives us a price completion at 41221 now if we're going to make it down there does that suggest that we're going to see the indices also starting to trade a little bit lower maybe sweeping the lows and trying to run some stops we saw meta out here up 2.71% on Friday able to take out the highs from Thursday now one thing to note with the indices and a lot of stocks out here we have several gaps above us that could potentially come back and get filled let's take a look at Google this week Google on Friday made another low came down to the 127 Fibonacci extension level but when we look up what do we have a big glare clear in gap above us we have some high volume nodes on the volume profile the first one being about 173 the next one up here about 177 now unlike some of the other stocks Google did close in the red on Friday now let's talk about one of the mini Catalyst for this week that we're going to discuss this week if you look at this chart we have a lot of major players out there with earnings this week is going to be action-packed on Monday we have stocks like like McDonald on Tuesday we have PayPal we have AMD we have B p on Wednesday we have Meadow we have arm then on Thursday we have Crocs Intel Apple Amazon and we look at the big movers expected this week look on Tuesday PayPal and AMD plus or minus 9% Starbucks plus or minus 8% on Wednesday arm plus or minus 12% which we're going to go and take a look at that stock here in a minute meta plus or minus about 9 1 12% door Dash on Thursday plus or minus 12% Amazon plus or minus 8% so again this week is going to be action-packed and if we come over and look at arm we see arm on Friday was able to break the high from Thursday however it closed slightly down down 14 cents one thing to note though we came right into the minus Development Area on the composite profile nor normally when we come into this area the first time we come into it we reject and we start coming back out and look we have a recent Gap up here at 157.7mm are going to be key levels but something that is a little bit problematic if you're looking for a big turnaround in arm and that would be if you look at the Mac the indicator clearly Ang goinging to the downside at about a 45 degree angle we have a bearish separation of the two lines now that doesn't mean that earnings can't destroy any chart pattern that we are looking at out there so again we do want to pay attention do I think arm could potentially go higher and I do think there is a chance that we get a bounce in the markets this week we come over though let's talk about some more volatility before we go ahead and talk about what what bur is doing and what Trump said and this is very unfortunate we want to pay attention Israel could be back in Focus if you guys watch the news very devastating at what happened when the kids were playing soccer you guys can see the news article right there my hearts go out to anybody that was affected by that and for the kids out there this could cause more uncertainty in the market you know nobody wants to see things escalate more if you guys join me during the live stream we know what happened when Israel went on the offensive against Iran we had a major movement in the stock market that night and the market did come back and recover we come on we're looking at what Michael bur is doing Michael bur goes on a big Tech selling spree major economic warning I don't know we know Michael bur is always very bearish if we look at some of the stocks that bur has been selling Oracle is one of them CVS Google Amazon now Google and Amazon that could be problematic they are both in the NASDAQ and they are Tech heavy stocks so does Michael bur knows something we don't is Michael bur going to be jumping back in or is he just early to the party is he trying to front R what could happen after the election cycle and if we come over and take a look at Amazon real quick Amazon has also suffered a drastic pullback from all-time highs if we measure alltime highs down here Amazon's down roughly 12% but look at the Mac the indicator it is below the zero line we still have a barish separation of the lines but it's looking like the it's looking like it's starting to try to base out here a bit on the 4our chart we almost have a cross of the two lines so that could also lend to the case that we could potentially get a balce out here this week I want to make everybody we Apex 7A massive 80% sale off all their valuation accounts pass them as little as one day and you can also get a 150k account for only $40 you get a 250k account for only $40 you get a 300K account for only $40 the promo code Mike at checkout now if we come over look at the dollar the dollar this week really didn't do a whole lot just a lot of back and forth Mac the indicator looks like it may want to firm up and we can see we never made it all the way up here towards the resistance level are we going to continue to see the dollar selling this week because we do have some news that could that could move the dollar in a big way out here this week and speaking of the dollar what is gold out here doing we see gold has come down towards almost a 78% Fibonacci level we came in right into this distribution area of the profile if we start to bounce look for the gold to come back towards alltime time highs and we'll probably go ahead and break that and run all the way up here towards the ABC completion at 2535 if we break the 78.6 Fibonacci retracement level then I expect gold to come all the way back down here retest these lows and if we break it watch for gold to flush into this into the minus Development Area of the composite profile if we do not bounce here the next area I look for is all the way down here at 221 which is the next high volume area on the composite profile then we come over and take a look at Bitcoin Bitcoin is almost back at all-time highs and let me know in the comments section down below do you guys think Bitcoin is going to make it back to all-time highs because if we look at what Trump had to say Trump proposes strategic National crypto stockpile never sell your Bitcoin is what that article says now if indeed we're going to have a strategic National crypto stockpile what is that going to mean out there for the Bitcoin price is Bitcoin going to go rocketing to the moon so if we come over look at the fear and green index we can see we're back in neutral territory from here we're sitting at 45 will the Bulls be able to gain enough momentum to push us back over into greedy territory and as we come over and look at the investor sentiment survey we had a bullish reading that actually dropped substantially came in at 43.2 previously 52.7 and if you actually look the Bears definitely creeped up this week are we going to see the Bulls step back in again at the next reading or have the Bulls been scarred and now they're basically scared wishing that they would have sold out their stocks at much higher prices with we look at the Dow Jones is it really far-fetched to think the Dow Jones could make another run up towards alltime high as you can see the Dow basically retrace to the 50% Fibonacci level small caps have absolutely been on fire and you can see we've had this move up we came down to a 38% retracement so we have a bull flag pattern is this about to resolve itself to the upside we know all year long the iwm the Russell 2000 the small caps have been extremely weak and now the small caps are finally catching their stride now we come over the the qqq's notice we've almost hit our ABC projection down here at 4453 we might have actually hit it out there in pre-market or after hours and let's not forget we do have a gap above us but when we look below us we have quite a bit of volume that has been built down below us now if we were to measure from all-time high down to this recent low that is about a 9 and 12% drop on the qqqqs for the NASDAQ futures it's just over 10% we look at the Mac the indicator it looks extremely weak at this point but I want you guys to focus on the candle from Friday notice the high was lower than the high from Thursday the low was higher than the low out here from Thursday which means we have it inside day so what do we expect I expect a breakout or breakdown from this pattern and you know what anybody that was buying on Friday or even late Thursday guess where they most likely have their stops could we potentially see the market dip down one more time go ahead and collect those stop- loss orders before ultimately trying to bounce back up one of the areas I will be looking for a bounce is about 47036 then up here towards Gap resistance and then maybe all the way up here for the Gap to get filled we look out here on the 1 hour chart you can see the Mac the indicator has already had a bullish cross and even on the 4-Hour chart you can see it's trying to firm up here just a bit on the 30 minute chart the Mac the indicator has already been working itself off of the lows and this is a warning sign I want you guys to pay very close attention if the Q stay down here at these lower levels and the Mac the indicator gets back towards the zero line watch out that could be nothing more than a recharge point to see the cu's come right back down and essentially break those lows and you might say Mike there's no way that could happen well if we look at the economic calendar for this week we really have nothing on deck for Monday we come over here we look on Tuesday we have consumer confidence we have the jolts job openings and then on Tuesday later on the boj has their monetary policy statement then on Wednesday what do we see 8:15 we start off with ADP non-farm employment change then at 8:30 we have employment cost index quarter of a quarter 9:45 we have Chicago PMI 10:00 a.m.
we have pending home sales then at 2 p.m. we have the fomc statement then J pal is going to be taking the podium at 2:30 now this could have a huge impact on the dollar come Wednesday however we are not out of the woods after that on Thursday the UK has their interest rate decision we have our weekly unemployment claims we have the final manufacturing PMI numbers we have ISM Manufacturing PMI numbers then on Friday is going to be another big one are we finally going to see the non-farm employment change actually start to show signs of weakening or is it going to be another blowout number and on Friday we do want to look for the revisions do they revise the jobs lower once again let me know your thoughts in the comment section down below now if we come over and look at the NASDAQ futures you can see where do we come up to on Friday we came right here towards the high volume area which we talked about in Friday morning's video which I drop a video each day before the stock Market is open which is another reason you guys want to make sure you're subscribed to the channel when we look at this we have value are low we each close right below it now from a weekly standpoint valary low is going to come in at 19,22 point of control is miles above us at 19,950 and value area high will come in at 20, 8450 now if I were to zoom this out a little bit I want you guys to think all right where's the most volume been transacted on this chart right here right about 18551 do we flush down there this week we have many catalysts that could actually push the markets lower but we also have a lot of catalysts that could potentially push the markets higher here's going to be a very easy way to approach it if we're trading above valary low I want to look for some upside testing I want to see can we get back within this minus Development Area that minus Development Area is going to be anywhere from 19,42 up here to about 19,6 61 if we can break above that that then we have a shot of running back up here towards the high volume area aka the point of control from last week now one thing I want you guys to also focus on is a basic structure breakdown Point candle wick to the candle body notice when we broke it we have failed to come back and test it and that is right on the edge of that minus Development Area now normally the market will come back and test this price point is it going to be the news this week that brings us there or do we come up and test that level and then J palal basically SNS the ship once again we come over and look at the daily profiles on Friday what do we form a DSN dog shaped profile which also signifies we're likely going to get a breakout or breakdown from this pattern notice the top of the profile was lower than the high from Thursday the low was higher than the low from Thursday which means we're setting up for a breakout or breakdown pattern and then we had the consolidation form as well now if we look at this we can see that value area high will come in at 19,1 19475 the point of control will come in at 19,702 Value area low will come in at 19,0 8325 now if we start breaking below value area low I want you guys to focus on this minus Development Area right here on the profile that comes in at 19,0 36.5 as we come into that area do we start to bounce back up meaning does the market try to shake out some of the Longs and try to entice people to jump on the short side and we reject from that level if we break through this minus Development Area then I'd be looking for a retest of the wick over here and then a retest from the lows out here from Thursday anything below that price point however we really got to be open to the idea that we could flush all the way down towards that high volume area on the composite profile now as we come over look at the Spy what do we see well on Friday we did have a bullish day we're up six points up 1.12% however the ma the indicator looks horrible at this moment we have a bearish separation of the two lines they're at about a 45° angle on the way down maybe a little bit more than 45° and we're going to see do we start to firm up on the 4our chart we're starting to see the macd indicator trying to firm up here a bit the 1 hour chart we already have the separation of the two lines then as we come over and look at the 30 minute chart this is a warning sign you can see all the consolidation that has been taking place when the macd indicator gets back towards the zero line if we're still down here near these levels we got to be very Vigilant we can simply see the market flush down below those lows and then we'll see do they essentially just sweep the stops and then bring it back up potentially coming up towards some of these minus development areas and even up trying to fill the Gap this week then as we come over and look at the weekly profiles now this is a little bit different than the NASDAQ we can see the S&P was actually able to close above value area low on the weekly chart now a valary low will come in at 54 8575 the point of control is way up here at 56175 Value area high will be 56 29.25 now how do I want to play this as long as we're above value low I want to look for higher prices I want to see can we come back up here and retest this high volume area let's not forget this whole area of the profile is very poor Market structure which means the Market's probably going to come back and try to auction in this area if we can get above here then I'll be looking for The Gap from last week intraday to come back and get tested point of control and then value area high and I'd be very amazed if we can actually go back and undo all of last week this week again we have the newscast list where that could take place but we want to be very open-minded to both sides of the trade as we come over and look at the volume profile levels we have valary low on The Daily 54 77.0 the point of control is going to be 5500.
valary high will be 552.5579 3.25 then down here towards value area low anything below value area low we got to be open to the idea of a retest from the lows from Thursday and then we'll see do we sweep any stop-loss orders that are sitting below these lows and then ultimately start coming back up or do we continue to flush lower and where might some of those lower prices be well if we look below us notice the next area where we have a lot of volume would be about 53.85 that is roughly a little more than 100 points lower now can we do that in one week yes normally we have more than 100 Point range weeks out here for the S&P and this week should be no different now you can also see that we should set up some type of ABC pattern on the way up and the reason why I say this is we have a five wve pattern on the way down 1 2 3 4 5 which normally after that we set up an ABC correction on the way up will it be enough to go ahead and fill the Gap that we saw out here from last week bringing us all the way to 56250 well we need to take it one day at a time are we above or below the key volume profile levels in the market if you guys want to learn how to trade double bottoms using order flow make sure to watch this video right here
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