Good morning, vietnam, oh kachiga, kachiga kachika. What is up everybody welcome to trading trades. We got technical analysis and different stocks in the stock market, as well as potential buy holders, sell opinions on these. Given stocks like a purpose by saying that i'm not a financial, advisor and or expert so take what i say: the grain of salt, let's get into the video today, my friends already giving you guys an update on the market correction that we have been seeing here On the nasdaq ticker symbol, nd, x and guys, this is from a purely technical perspective.

Right, i'm not here to debate with you the reasons for the market correction. You know xyz whatever, whatever whatever, but we are going to tell you guys what i think is likely going to be the bottom of this nasdaq correction and guys. I i honestly can't i can't say that i'm too upset with my prediction here so far, because it played out pretty much exactly as i thought it would so. Uh we're gon na give you guys an update on you know when we think we're gon na see this market correction, it's bottom and we're looking at the fibonacci retracement, and you know we we all have seen the different youtube videos, the market's crashing right.

It's over. You pull out all your money, liquidize every liquidate, everything i don't think that's the case right. I stand by everything that i've said so far in all my market correction. Videos when i say these are the opportunities to double down on your convictions, your true stocks right uh and i'm gon na keep on doing that.

So without further ado, let's just get into the video. So what do we see here so far? In case you were just tuning in to the channel right. Well, we've seen a really really heavy market correction. Since i would say november, it has been a crazy, crazy, bull market and, honestly, if you look all the way back to march, when we had that initial correction back here from uh, what would have been seven thousand god.

That's crazy how we doubled the nasdaq literally in a year, which is which is insane, but since that that uh huge correction, we saw from the pandemic right if we just drop a fibonacci retracement. We really have not even given back that much of this this this pullback right. It's been 23.6 percent, pretty much square on the nose, but if you were to you know, draw up what this correction looks like from the past right from here. What you'll be looking at is a retracement of about 23.6 percent at uh.

You know this bounce or the first bounce you'd have been looking at about uh, you know 30 or so so, where am i getting this idea of the correction that we're having this time? Where am i getting this trend? Super super easy - and this is a teacher man of fish sort of thing that i love doing here on the channel, my friends. This is way too easy, too easy check this out. You check out this previous correction right from the base. The bottom of this run-up to the peak of the run-up.

What do we see? We saw a retracement of pretty much square on the nose about uh what would have been 45 to 50 percent right. So if we take that exact same fundamental basis - and we apply it over here to this retracement right - we do the exact same thing. You drop a fibonacci retracement from the base of the run up to the peak of the run up, and you would get what looks like just a hair under a 50 retracement. We see a really long candle wick here now.

What does this tell you? This is super easy. My friends, you drop a rectangle, i'm just going to show you what this is. This is called a shooting star or a hammer candle pattern. This is typically a sign of weak selling pressure, and what this tells you in case you don't know how to read candles.

We've got a whole bunch of different viewers here on the channel. This is telling you hey, we opened, you know we opened here on a green candle closed here at the top of the candle, and this wick indicates sellers that tried to push the price down all the way down to that lowest point, and it was rejected, brought Back up by the buyers, so that was actually a really really strong day in the market right. That was incredible. I saw we were down two and a half percent or two percent of the lowest point on this green candle right here, and i thought great.

This is just a continuation of this terrible terrible day in the market, however, ended up bouncing. So that's good. We do like to see that there is a sign of weak selling pressure. If i had to guess you know with uh, even though we had a little bit of a gap down in the pre-market, maybe we'll have a flat day or just a slightly red day uh.

Just since we saw that you know that nice candle rejection on that green candle, however long term thinking about this map, this correction in the long term, i want to prepare you guys for the worst case scenario, which i do think is going to come to fruition And that is going to be a retest of this, this technical level of support down here, where we see this triple top now. What am i talking about when i'm talking about this triple top is technical. This technical support - we've got one two three touch points right here right by this george, w, by the way check this out rocking the george w hoody. If you want to get one of these, for yourself feel free to do so, there's a link to the merger in the description box, but anyways.

We do have a nice technical level of support here, which is exactly what we bounced off of for a while. We tried holding over this fibonacci retracement right. There was a 20 23. You know correction 38, 50, and we tried holding each of these respectively for a little while, especially at 38.2 percent, and it just couldn't do it so we're hanging out below that now? How are we gon na know if this is broken out of this downward trend right? Well, you can see a couple different things took place here.

We've got this descending level of resistance right now, and where am i getting this? You always look for these three touch points to signify a respected level of support or resistance, and in fact we have them right. So we've got one two three different candle wicks touching right here, saying hey! This is a respected level resistance. We can't break above this as of now so if we were to open and close above that descending level of resistance, that to me is going to signify that we have broken out of this downward trend. On the flip side, we do also have a descending level of support.

So how are you going to know if we are continuing on this downward channel right you're, going to see that candlewicks continue to test this descending level of support, we'll continue on that downward trend? I don't think that's going to happen. I really don't. I think this technical level of support right here by this triple top is going to do a really really good job of holding us up and being a good level of support, so that the market can continue doing what it's doing. And you already know all of my favorite stocks in the market are tech, stocks, glean energy, green energy, glean clean energy, green energy stocks and innovators.

So i i really stand by a lot of what arc invest, kathy woods gets into and that's innovation right. I am not going to get left in the dust as the world continues to change, i'm going to keep investing in green energy, i'm going to keep investing in my microvision, my agtc, my sensonics. All these different innovation and technology stocks uh in their sectors respectively, have been really seeing the brunt of this. So i get asked this all the time.

Trey is microvision a dead cat. My answer to you, no microvision will never be a dead cat in my eyes. Until they fundamentally and qualitatively change as a company, which is not the case right now, but you can see here right, microvision was at 24 bucks. Now it's trading at 12.

agtc, another stock that i am very very bullish on almost hit ten dollars currently trading at 480. centsonics right. What do you see here sent sonic said it's. The low point is at 246 lowest of dollar.

Ninety had hit almost six bucks. Previously, right with their their amazing cgm uh 90 day system, they already have fda approval on waiting on 180 day 360 day. Where am i going with this right? All these stocks are the ones that are really taking the beat down with this nasdaq market correction. People thought that we were in a tech bubble, a green energy bubble, electric vehicle bubble right, an innovation bubble essentially, and maybe to some extent there were some stocks that were over overvalued.

That's that is always. You know, that's how the market works. We go through periods of overvaluation and undervaluation and where i'm going with this, and why i think this is not a crash, is this corrections got to be almost over it's based on how much we've given back on a lot of stocks. I mean look at this.

Microvision is at 24, which maybe is a hair overvalued for that you know for where they currently are, but you're investing in the idea of growth right now, they're sitting at 12., a 50 give back from zero right. So that's an insane insane insane retracement and i think an overreaction. I i i to be to be completely blunt. I do, i think, that's not warranted.

That was a 78.6 retracement which, up until that correction began, was not the trend of the market. So i think this is a little bit of an overreaction. I think you're going to see people really start to bounce on these different stocks, whether it be microvision ctrm, which is not a dead cat. By the way you take ctrm's a dead cat.

That means you're a dead cat, my friend and it's just not it's just not you can't cherry-pick each of these individual stocks and say hey. You know the the market is uh, even though the market's correcting. I think this is uh. Why is it correcting so hard give me an answer.

Give me an answer right. I can't because the market is a living being as a stock market says bruce would say it ebbs and it flows. It goes up. It goes down.

You can't cherry pick these stocks and you just got to be patient. So where am i going with this right back to the nasdaq, the nasdaq, where i think it is going to end its correction is down here at about 12 200 right and if you look at how much we corrected in the previous seven five trading days, one Two three four five right here: how much ground do we cover right? Well, if we take the bodies of these uh, these stocks, one two, three, four: five that would be about this much distance. Let me just make sure that i've got that exact and if we end up holding this technical level of support, that'd be about half as much of this initial run-up, and we gave back, i would say about five or six percent the nasdaq. Last week i mean we could take a quick peek here just to double check um.

We ended up dropping from thirteen thousand one or twenty three down to twelve thousand six hundred fifty one, i'm not going to do the math on top of my head, but i think that's five or six percent. If i had to take a stab at it and we're just not gon na have that kind of a correction again. If i had to take a stab at what kind of correction we're gon na see this week, it would probably be in that realm of two to three percent at the most, so for your microvision right. What is that? What does that entail? What does that mean? Well, if we just pull up mpis, that would mean maybe, instead of 12 bucks, we get another retest of 10 right.

We do have that technical level of support 828 i'll, tell you what, if that hits 828 i'm gon na load the freaking boat on microvision, because i know what the company is. I know what they hold. I know their potential is in the future. So, in my opinion, that's what we're looking at this week in terms of a correction on the nasdaq you guys can very very easily for yourself.

Do this, if you'd like to check out where the market's sitting right now you're just looking for levels of support levels of resistance, you're doing fibonacci retracements based on previous trends? Now it's not a surefire way to predict what the market's going to do. Nobody can predict it for sure, but we can look at previous trends and get a pretty good general idea and for this video you know this series that i've been covering on the market correction. I basically been saying you know best case scenario, you're. Looking at a 50 retracement which we didn't end up holding, we ended up breaking beneath that 50 retracement right.

So with that in mind, since we broke that 50 retracement right here, pretty hard too, by the way, it was with a long long, wick you're, pretty likely to see that we re-test either that 61.8 percent, which is below that technical level of support, which is why I'm not talking about it, or that was the bottom right, and that 50 retracement was just a false break underneath that retracement line and will continue to rebounce from there. But friday we had a really really nice bounce. On a lot of different stocks, i mean one that comes to mind right off. The bat is uh sensonyx.

I think they had a really solid bounce here on friday. Look at this. They had an initial selloff and then a nice bounce. At the end of the day, which does mirror very well, what the candle wick is telling us, which is sellers, try, pushing the price down right at market, open buyers, step back in and brought the price back up.

So it could very well be the bottom. However, if it's not we're preparing for the worst case scenario, so it's not gon na hurt the bank. It's not gon na piss us off we're going to be just fine right. Keep that dry powder keep convicted.

This is not the time to sell out your stocks. We buy dips and we sell rips baby. It's seriously that simple and i'm telling you these are the times, and you really just got to stay true to what you know you like about certain stocks and companies and just hold out just wait it out. My friends, i really do think that is the case, so that is what i have for the video here today.

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Peace.