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y and today we saw a brand new closing high for the s p 500 and a brand new all-time high for the nasdaq 100 triple q's so there's no doubt we're still in a very strong bull market so so real quick don't forget that i am running a black friday special deal for bank trade alerts which is an algorithm driven trade alert service that only trades teachable queues that send you you can currently get 67 off your first month by using the coupon code black friday at checkout and all of the details will be in the links in the description below as you can see bank trade alerts is currently up 7.46 percent this month and we are absolutely crushing this market and bank will do well whether it's a bear market or a bull market so we don't have to worry about if the market stays bullish next year as you can tell in 2008 banks still turned a profit of 72 percent even though the nasdaq 100 and the s p 500 lost more than 30 to 40 percent so finding out more details you can click on the links in the description below alright so jumping back over to spy we can see that we were up 0.34 percent today and we did see a lot of buyers of the dip below the support level just below 467.
so without a doubt the price action and trend are still bullish and our critical support level is now sitting just above 463 so each and every day our critical support continues to rise so with this very strong bull trend and the bullish price action it does look like spy will break out to a brand new all-time high even though we already see spy closing at new all-time highs we have not yet seen a new intraday high so we will need to see the price action break out above 471 and that should validate we're heading to our next price target at 477.
remember every time we get to one of these price targets we could always see a pullback so on a breakout above 471 you will want to get a lot more cautious as we approach 477 that doesn't mean we can't go higher but you always want to reduce your risk and start locking in some of those profits the higher we climb without a doubt this is still a very strong bull market so continue to stay bullish and continue to hold your long positions we will see something shifting in the price action and the trend when it's time to sell and right now we still see we're going up on low volume which does favor the bulls to take the stairs up we'll see high volume selling when the market's going to go through a correction and right now we just don't see that so watch those critical support levels to the downside at 467 465 and 463 and if we start breaking below 463 then get 4.
so everything is bullish and we're staying objective and looking at this chart there's no reason to sound any panic alarms just because we're going higher remember bull markets constantly make new all-time highs and new all-time highs should not be viewed as bearish because they're quite the opposite they're very bullish jumping over to the nasdaq 100 triple q's we had a very bullish breakout today going up 1.04 and breaking out and closing out a brand new all-time high so we blasted right through 401 so it does look like the triple q's are going to start running to that next price target at 409.
remember usually i like to see two closes over a breakout so watch for that confirmation that we can hold this breakout look going into tomorrow tomorrow is opex so we could just see a sideways and boring day but overall that should validate this bullish trend and we could continue to see this breakout continuing higher towards 409.6 so to the downside look for potential support right around 400 to 398 and below that you're looking for 394 in our 20 simple moving average at 390 which tells you each and every day our critical support continues to climb higher we had some increasing volume today as we saw this breakout so this is definitely a bullish breakout that you don't want to ignore don't get bearish just because we're going higher because we still do have the strong bull trend and the price action is just slicing through resistance if we did break down below 390 we still have support right around 388 and our 50 ema sitting right here right around 381 so each and every day our critical supports continue to rise which means this bull market has a ton of support below with the very strong bull trend i can't stress it enough that you want to stay bullish in a bull market so if you're getting nervous or you're getting cautious just go to cash because you're much better off being in cash and trying to short a bull market on the dow jones we were down 0.14 today and we did close below our 20 simple moving average but we did not lose the bull trend we're sitting right on top of this support area right around 3 59 which was our previous support but we did close below our 20 simple moving average one day below the support level while we still have the bull trend is not time to panic because you can see we're not going down on very high volume we did see a lot of buyers of the dip below 359 so there's definitely buyers out there that are buying the dip and we are still closing very close to our support level right around 360.
so as soon as tomorrow or next week we do want to see the dow jones bouncing higher from here and attempting to break out of that previous all-time high at 365. if we can't break back above 360 and we reject that level as resistance then you will want to look down for that next level of support which is right around 355 which is our 50 ema if we break below the 50 ema that's your time to get a lot more defensive and close these gaps below in the low 340s and then you will want to look for a potential weakness in the market but right now we just don't see that and we're still above 355 and we're very close to bouncing back up to new all-time highs so on a break above 365 your next price target will be 372.
on the russell 2000 we were down about 0.42 today closing right on top of now remember the russell 2000 had a very bullish breakout which was a macro level bull breakout because we were breaking out of a consolidation that's been going sideways since february of this year that was the breakout level above 234 and as you can tell we did back test that level today and it did hold up as support so we have a lot of support levels that are very critical that are holding up so we are still seeing bullish price action because we're holding above critical support now if we start to break below 234 and we fail to hold above 232 or 230 then you will want to get a lot more defensive because the bull scenario is very likely not going to play out so as long as iwm is above about 229 to 230 you can stay on the bull because we still have the bull trend and we still have bullish price action we're not seeing a ridiculous amount of selling on high volume and we did break out on increasing volume so there's definitely a lot of bulls in the russell 2000 that are getting ready for that next leg higher so to me the most likely scenario would be a bounce off of 234 or 232 and then break out back above 238 and get to these next legs higher at 245 and 250.
we'll leave it at that for now because that's the highest probability chance with the other probability chance being we break below 229 and then come down to close the gap at 222. i don't think that's going to happen but leave all scenarios open so watch that critical line in the sand at 2 30. on the rk etf we were down just about two and a half percent today and we did close that gap at 113 so say goodbye to that gap and this could have been the bottom in rk this is more than likely a capitulation in the growth sector and kathy wood has been having an absolute terrible year and her etf is still in the red for the whole entire year even though we're in one of the strongest bull markets in history so facts are facts and the question is is the growth sector going to explode from here or is cathy wood's etf just going to turn into a turd and continue to dump so look for this gap close at 113 to potentially be a strong support level and this is still an inverse head and shoulders look remember we just need to stay above 107 to not invalidate the inverse head and shoulders so the line in the sand is going to be right around 107 and if we break below that we're going much slower and we're more than likely going to see the arc etf going into a bear market so right now the highest probability chance is that we stay above 110 and eventually bounce and break the neckline at 126 and then start heading up to that price target at 143.
i'm sticking with that as long as rk is above 107. so as long as rk is above 107 i'm bullish even though it's obviously not a very bullish looking chart we have to think ahead and we have to think of all the scenarios the most likely scenarios that we're getting capitulation in the growth sector and eventually when you hit capitulation and you hit a bottom and everybody in their mother has already sold there's nowhere to go but higher so that could be the scenario for rktf so continue to watch these critical support levels and look for the confirmation of that breakout above 126.
on the vix we're up 2.81 which is completely to be expected on a day that we're going through op x and there's a lot of volatility in the market overall the vix did get rejected from 18.2 so you still want to buy the dip and we don't want to get cautious until we see the vix closing above 20. so even if the vix were to spike and close that gap at 21 as long as we close below 20 you want to buy the dip because we're more than likely going to continue to go higher if we close above 20 i was likely wrong and we're going through a deeper pullback or correction but that's why we stay objective and that's why we continue to watch price action as long as the vix is below 20 and definitely below 18.2 you want to stay on the bull on bitcoin we're currently down about 5 and we are below that critical level at 59 000 which means bitcoin is very likely coming back down to about 53 000 which is our next buy the dip level we're still going down on increasing volume so there's definitely a lot of selling pressure behind this but overall if we look at the macro view of bitcoin which we will do this weekend we are still in a very strong bull market so if bitcoin fails to hold above 53 000 then you want to get a lot more defensive because we're more than likely going to see a capitulation in bitcoin but i just don't think that's going to happen more than likely bitcoin will stay above 53 000 or above six thousand and we will start breaking out to a new all-time high this year remember my price target for this year is at seventy five thousand with the possibility of breaking that getting to eighty six thousand five hundred however i'm wrong if we start breaking below fifty three thousand we could start heading back down to about forty thousand or thirty thousand i don't think that'll happen but we do wanna leave that possibility open if we do see the price action breaking through support so right now watch those critical levels at fifty six thousand and fifty three thousand and the breakout level would be a close back above 59 000 to tell us that bitcoin's going back on the bull on amazon stock we were up over four percent today so we finally did see that very bullish breakout and we did expect to see this because we knew amazon was in a full bull trend all of these moving averages are stacked to the bull side and we continue to see amazon climbing with higher highs and higher lows so that breakout level was on a close above 36.05 and we did get that today blasting right through all of our price targets and going straight to 3 700.
so the next price target is 37.60 and above that we're going to more than likely start running to 3 800. so amazon's looking very bullish with downside support now sitting here at 36 28 in the breakout level right around 36.11 and if we do come back down you will want to buy the dip off of 3552 and 3500 our 20 simple moving averages right around 3460 so that will be another strong support level as well we're breaking out on increasing volume so we could start to run so continue to stay bullish on amazon as long as we have this bullish trend on tesla's talk we were up 0.68 today and we did close back above we're still holding up above this support level right around 1080.
so overall tesla does look like it wants to go up there and close that gap at 1208 but don't get overly bullish on a bullish breakout we're more than likely going to close that gap and then continue to consolidate and form somewhat of a bull flag before we can eat some time off the clock and then see a breakout remember we're either going to break out to the downside and close the gap at 900 or we're going to break out to the upside and get to that price target at 14 12.
but overall the message i'm trying to deliver is that while tesla is more than likely going higher in the macro level view we're more than likely going sideways so look for a rejection right around 12 20 to 1208 to potentially head back down to the bottom of this channel right around 1080 or 10.50 overall i'm bullish on tesla because the price action is bullish but overall you will want to be defensive if we start breaking back down below 1080 and 10.50 and eventually if we did close below about 987 it's very likely we're coming back down to about 950 or the gap close at 9 11.
so there's a lot to pay attention to in tesla stock so if you're not sure about these levels you're much better off just staying away from it but overall right now it does look bullish and it does look like we could be heading back up to the 1200s on applestock we were up 2.85 percent today and we did get confirmation of that bullish follow-through because yesterday we did get that bullish breakout remember on a break above 152 we were full bowl on apple because we had the bullish price action in the bullish trend well here we are at brand new all-time highs blasting right through 157 like it wasn't even there closing just above about a dollar higher so right now the more likely scenario is that we're going to continue with this bullish impulse and go straight to my price target at 162.
remember that's my price target so i don't necessarily think apple has to go any higher than that so once we get to 162 we'll need to look at the price action and see if apple can continue to go higher we did break out on increasing volume but there's always a possibility of sell the news so wait to see what happens when we get to 162.
there is the possibility we pull back a little bit and test this breakout so look for support at 157 154 and if we continue to go any lower the strongest support level will be right around 152 but overall you can't look at this bullish price action in the bullish volume in the strong bull trend and be anything other than bullish on apple and as i always say apple is a market moving stock so if apple is going higher don't expect to see the rest of the stock market pulling back and going through a correction this is bullish price action on a very critical stock and it does look like apple has plenty more upside on the financial sector we were down half a percent today and we did bounce off the 50 ema intraday and we continue to see the trend shifting towards the lower prices but right now as long as we can hold support at the 50 ema it's still possible financial sector could go for another leg higher the industrial sector was down 0.21 today bouncing off full bull trend the healthcare sector was up 0.04 percent today closing above the 5 ema and still holding onto the voltron the energy sector was down 0.59 percent today closing below the 20 simple moving average and it does look like it's heading back down to the 50 ema while it's losing some of the bullish trending we could see the energy sector bouncing off the 50 ema or breaking down and starting to go back down through a correction so jumping back over the s p 500 you can definitely see this is still a very strong bull market and we still have bullish price action and we still have the strong bull trend so stay objective and stay bullish and if you're getting nervous just go to cash and wait it out but overall this looks like a very healthy bull market even though there's plenty of fear-mongering out there and plenty of noise as i always say follow the price action and trade with the direction of the trend and block out the noise if fear-mongering is scaring you out of being profitable in this strong bull market just unsubscribe from fear mongering and stay objective that's our goal here on the stocks channel and we are absolutely crushing this market so try not to be emotional and just stay objective and as long as you're staying objective 9 times out of 10 you are going to be on the right side of the trade so don't forget to take advantage of my black friday deal on bank trade alerts where you can get 67 off your first month and if you haven't tried bank trade alerts now is the best time to do that remember it only trades triple queues and all of your buy and sell alerts will come directly to you via email and text message so and want to take advantage of this black friday deal you can find out all the details about how to join bank trade alerts in the description below i also have the stock channel discord where i do introduce updates and analysis and bring new tradies to you weekly to help you absolutely crush this market if you're interested in joining the discord trading community you can find out how to join by clicking on the link
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