If you can't hear the heat, these hot socks that stay out of the kitchen and consider investing in the index funds - oh bam too baby. You know what it is. Welcome back to the channel. What is up everybody welcome to trace trades.

We do a technical analysis on different stocks in the stock market, as well as potential buy holders sell opinions on these given stocks. I like your purpose by saying that i'm not a financial advisor nor expert. So, let's take when i say the grain of salt, let's get into the video today, my friends we're giving you an update on the nasdaq, so we've been tracking this market correction - that's been going on here for a little while now and i've been trying to give You guys what i kind of anticipate with. What's going on, i say market correction because i don't think it's a crash.

I cannot tell you how many times i put on market correction, videos and you get that guy that says trey. This is a market correction. This isn't it this isn't it. This is a crash right.

This is going to be the worst worst financial crisis, and who knows how long and i'm telling you there's not enough catalyst there for this, and i can see why people might think that you simply look on on the news right. You simply google market news on youtube, and you get things like this. Why investor steve weiss is getting more negative on the market. You've got markets are in a danger zone.

What the 1.9 trillion stimulus package could mean for the market. You've got all this uncertainty. Uncertainty causes fear you simply google market crash on youtube, and what do you get? You get a million different videos from a million different people meet kevin actually spot on the money he predicted this. Just as we did here the channel - and he said guys, this is not a market crash, it's a market correction, and this isn't it this ain't it this ain't it jack.

This was not a market crash and we're gon na tell you why. So we've got a couple different things that have been going on here. I've been covering the technical analysis side of things looking at these different levels of support that we're looking at in terms of fibonacci retracement. Looking at some technical setups right, we look back here and what would have been you know, between september and november, when we had that double dip that george w that set up here right and people thought.

Oh man, what if we get something like this again? Well, we didn't right we're not we're. I think we're in the clear for now and i'm gon na tell you why so there's two different things that are kind of driving the market right now in terms of market correction. You've got this this uh. This worry about inflation.

I've seen numbers bounce around about five percent inflation going up over the next year or whatever, and we've seen these bonds bonds going up typically means the markets go down, and that is factual right bonds. Going up does usually mean that that market uh market goes down because there's always different sorts of investments that are competing for your money right. So if bonds go up, market could go down. If you you transition from a seller's market to a buyer's market which we're in right now we're in a seller's market right, we go into a buyer's market.

You could also see that reflect on the stock market that could drive the price down as well. For me, there's not enough going on in terms of uh. You know catalysts to drive this market into a market crash to to really justify that right. You have the tech bubble.

You have a lot of companies a lot of institutional investors, a lot of the big wigs that are saying guys. Tech is overvalued. There is a bubble. You need to get out of this right now and true.

We did see a gnarly gnarly correction on a lot of stocks. You pull up a stock like microvision, for example a company that was up. You know, let's just take a peek here. It went from 24 bucks all the way down from 24 to 10 bucks right.

That's a pretty gnarly correction. That's a pretty correction. I would, i would argue, a over correction. That is not quite justified to me and you can see that already.

This is really starting to correct itself and fix that problem which we had we had been seeing. So with that being said, we look at the nasdaq here we come back to the nasdaq. What are we going to see right, we're seeing that the market is starting to bounce back? So what did we predict if we look at a fibonacci retracement? I had said you're likely to see a couple. Different things happen right: we've got this 38 retracement, the 50 retracement and about 61.8 retracement, which i moved up.

I shifted that line a little bit to match this technical level of support right here with this triple top one. Two three touch points and when we broke over that we got in that nice disgusting upper moving channel a filthy one right - and i said i could see a couple different scenarios playing out here. You can see it hold up at this 50 retracement and if it breaks that you're probably going to test this technical level of support well, we did that we broke through that 50 retracement right here tried holding it tried, holding it ended up breaking right. We got a candle wick that tested down here at that 50 retracement broke through it tested out that technical level of support.

We ended up testing it again. Another day with a wide range candle opens up here closes down here. Right touch that again, we've got almost three touch points two at least, and it didn't quite break it right, so that technical level of support held this up, and i think that is for good reason now. I know a lot of people are probably thinking something like this trey most people don't know what this even means.

Most people don't pay attention to the technical levels of support, they're, only investing in the market based on fundamentals and fundamental value, but that's the beauty of the market, guys it is a living, breathing, freaking beast, it's a beast and it holds itself up based on the Big dudes, who are holding the market up the institutional buyers. Personally, i think there are a lot of institutional buyers that were out there and they were saying you know what guys uh. This is the biggest opportunity - we're probably gon na get in the next couple months to load the freaking boat on a bunch of different stocks, and they did it right. They loaded the boat.

They bought a crap ton of top of stocks, especially tech stocks, right. What are we seeing now right? What you're seeing is you have this downward moving channel? You had a decent level of resistance, descending level of support and a harsh downward moving channel and we broke it. We have a candle right here that actually opened and closed above this descending level of resistance right here now. I'm not necessarily saying that you're going to see today is going to be a red day or a green day right.

You got to think macroscopically speaking what i'm saying macroscopically speaking is. It does appear that we are down and out of this, this downward moving channel and we are back on an upward moving trajectory. The best the next big level you're going to watch for is going to be this level it's at 13, 685 on the nasdaq and we break through that. I would anticipate we are back in business baby.

We are back cooking with crisco and rocking the market. The way that we know it should be moving, so that is, that is good. This was an opportunity to load the boat and we don't always know how far a stock is going to dip right. We could have anticipated that maybe this is the first dip.

Maybe this is the second dip who knows maybe it'll do something like this again right, but what we have it being the difference between this correction and this coving correction back here is there's just not as much going on there's not as much going on you had You had so many people being fearful of the pandemic. I mean i remember when i was in minnesota. You had the minneapolis riots. You had a crap ton of crazy stuff going on right there right where, where people were burning down buildings, there were people literally raiding stores for toilet paper and stealing tvs and stuff.

Because of all this craziness happening with with coleman and the quarantine. I thought the world was going to freaking end, and this is how much of a correction you sell right. That's a legitimate crash. You saw it dropped from 9 600 points down to 7.

000. Almost 6 800 total points which is justified. That is a actual crash with enough catalysts to make it happen right, and you look at this compared to where the market was previously, it dropped below previous levels. It was more than 100 retracement, which is what i would consider a crash.

Well, if you want to see the market crash again right if you're a bear - and you want to shore the crap out of the market, which is you know, you do you i'm not going to bet against the market, you want to see a 100 retracement and When think about this, do you really think the nasdaq is going to drop down to 10 976? Do you think that, because i'll tell you right now, i don't i just don't see enough catalyst. There true you've got you've got uh inflation, inflation's always going to be happening. Inflation does affect the market right, but i don't think inflation is going to cause inflation alone is going to cause the market to come back all the way down to ten thousand dollars or from there you know ten thousand seven hundred dollars. I just don't see that happening.

I don't see that happening. This is an opportunity for you guys to take advantage of that, and hopefully you did when i was putting out these videos saying. I really don't think we're gon na break this technical level of support right here with this triple freaking top right and bought in tech stocks are going to be huge personally as an investor right. What i pay attention to is innovation.

I love innovation. I love to be a part of companies that are always working for towards a beautiful future. That's why i'm in microvision! That's why i love synthsonics! That's why i like agtc right! That's why i like uh, exome, right, xo and e all these innovative stocks. They took a beat down because there was fear there was panic right and that's when, when people are fearful, you have to be greedy in a market of fear, you have to be greedy.

That is what separates you right from losing money and making money we buy. Dips and sell ribs baby, we don't, we don't buy rips and sell dips, that's backwards! That's why people lose money because they're playing it all backwards. You need to master the art of human psychology right and you need to be able to center yourself and your own thoughts and your own emotions and be able to hold true to the market. I just don't think i don't think this is a crash.

I really really don't and we've got technical support here to say it right. We've broken out that decent level of resistance we've got the the 15 ma starting to parallel itself. With that 200 ema right, we if you saw the 15 ma drop back underneath the 200 dma, which i think has never really happened even back, maybe back here it did for a while. That's a crash watch for this you'll know that we've officially crashed, because that means that the microscopic price action has dipped below the macroscopic price action and the macroscopic price action of the market is extremely extremely bullish, time and market.

My friends, you just need to keep playing the game and load up on these dips. Now, there's going to be people that said trade well, why didn't i just sell at the top and then reinvest at the bottom and there's no one saying that you shouldn't have done that right, but then the problem with that is is if you sell out at The top and you misjudge the top and it keeps running without you and then you just you just get left in the dust you're not going to know. If you did the right thing or not, i would say you know for future for the future reference. If you want to reinvest at the bottom of a of a stock right, a stock market correction from the top, i wouldn't take all your money out, maybe take out 10 20 of your total portfolio.

Maybe trim off some other winnings that you've had right your profits and then reinvest them at the bottom, if you think there's a market correction coming. But for me this is just not a jack. This ain't, this 80 crash you're, not gon na, see it happen, and i i told you guys from the beginning when we saw it break that up that first level of support here at a setting level of support. We got this candle right here.

That's when i started making videos, because i didn't want to scare people - i get sick of seeing these stupid clickbait youtube videos that are saying market crash market crap, no you're, just they're just mongering fear, and that fear is what drives people into selling their stocks because They think an actual market crash is coming, there's just not enough there to make it happen. Guys from what i see we had a tech bubble, we've got inflation rates. We had the bonds that were going up, which decreases the value of the market right, because they're always competing for people to have a place for your money right. They want your money and their investment, and with that that's short term, that is short term and you you want to be a part of the market, guys i'm promising you that.

So that's what we're looking at right now now, if we have a little mini pullback again, what are we going to be looking at right? Is this going to be all the way going back up now? Are we only going to see up days? No right we're not going to see it just be straight green candles until we hit this level of resistance right here at 13694, right, you're, gon na have red days as well, and this has been a bumpy journey. I mean red green red green, but the big picture is that we are still growing right, we're getting out of this hole that we dug if you were able to load the boat on your stocks, like microvision, was at 10 bucks or your x own. That was, at you know, 20 19, which we know of those. Both those companies are huge, huge, huge companies doing great things.

They've got they've got so many fundamental and qualitative values that i stand for and, i believe, will grow with the market, not not not be left in the dust right you. You should load the boat on these opportunities and you're not going to get them very often. So hopefully you were able to take advantage of that if you do see a dip again, if you see a repeat of something like this, where you get that george w set up right, i hope that you take advantage of it. I really do and if i think that that's coming, i will tell you guys i'll look at this technical level set up right i'll.

Look at these. These resistance lines, support lines, i'll look at the setup and i'll tell you hey it's possible to see another correction, but if i don't think, there's one coming, i'm not going to tell you that, because i i hate this fear-mongering stuff. I don't like getting the clicks for just scaring the crap out of people, because i know everybody's searching it right this. It looks good.

This is promising right, so i feel good about it kathy. What feels good about it? A lot of really huge tech industries feel good about it. I'm willing to bet you that institutional investors are stepping back up to the plate, for tech and for innovation, and that is what i've got for you guys here today. If you enjoyed the video, please drop a like if it does help support the channel and consider subscribing.

Please see more content like this. Lastly, i'm going to fill in the description box down below for a wee bowl. This is version 4 for the desktop great platform that allows you to start training at 4am the pre-market. If you use my link, you get two free stocks for the 100 deposit i'll receive a free stock great before the channel, my friends and, if you're, not interested.

That is totally fine. I just appreciate your support by taking the time to watch. My videos also have a link in the description box to the merge store, if you like, to pick up some gorilla gang mugs or a uh george w hoody, and a link to the discord where you click on that it's a five dollar a month for the Patreon two easy friends: you'll be a community of great investors who make some awesome, awesome, picks uh, and that is what i've got for you guys today. So thank you for watching the videos.

My friends i'll see you on the next one and peace.