Hey you already know what it is. You already know what it is. Don't you to george w? Oh man, you want to get some cool mugs or something or t-shirts, there's a link to the merch on the description box down below what is up. Everybody welcome to trace trades where you have technical analysis and different stocks in the stock market, as well as potential buy holders sell opinions on these given stocks.

I like the purpose by saying that i'm not a financial advisor nor experts, don't take what i say. The green assault, let's get into the video today, my friends, will be looking at the market correction that has been taking place over the last couple of days. I put out a video talking about this a couple days back and i got some mixed reviews right, but i really really waited until the last minute to talk about this. This topic, because i hate fear, mongering and i i truly truly do not like the fact that some people will use this market crash or market correction uh.

You know video profile to scare people or to get views or whatever it may be. But this truly to me is a topic that i want to not per se educate people on but give some guidance on right, because i think, there's you know a little bit of fear a little bit of uh. You know panic in terms of this market correction and it is not a bad thing. In fact, i encourage red days.

It is, is the opportunity for you to take a macroscopic step back right and say hey based on what we're seeing right now. This is an opportunity for me to really capitalize on some long-term games so gains i said games because i just got done - recording a video about amc, but you get the picture here. So we're going to look at the nasdaq. I've got the nasdaq pulled up here.

Really quick, so let's just take a quick chat and see what we're looking at. So one thing that i want to point out to you guys here really quick, i'm just going to clear off the charts and draw up all new trend lines. So what am i seeing? Well, we had a crazy, crazy bull run for a long time between, i would say you know, november of 2020, up until now of february 16th of 2021, so that is insane and if we look at the last time we had a little bit of a pullback Or a market correction, we saw one back in september, a little micro pullback, nothing crazy, had a george w, a double bottom, which is typically assignment upcoming bullish run. We ended up getting that right, so that was the last time we saw a little bit of a market correction.

However, last major market correction took place during the colbin and quarantine pandemic situation. This is around the beginning of march. There's a little bit of uh. You know, fear and anticipation of a possible market sell-off, and then we really saw it happen down here right and i just want to back it up here, so we can take a more macroscopic view than this and show you guys.

You know what this looks like in the grand scheme of things, so we're gon na take a quick peek at the grand scheme of things right, this huge market sell-off that we saw in march. What does this look like? Well, if you draw this up from the base of the last run-up and compare how strong of a pullback this was, you saw a retracement of about 50, basically a picture-perfect bounce off of that 50 retracement on the fibonacci. What does this mean? Why am i sharing this with you right? Because this shows you there's a lot of strength in the nasdaq that that gives you an idea of a trend that you can predict for upcoming. You know pullbacks and that's a good thing.

In fact, you can take the same principle and apply it right here, which is another exactly 50 retracement on the nasdaq right. So that's very, very significant and i want to point that out in terms of you know, different trends that we saw and you could have predicted this. I 100 think you could have predicted this uh this pullback and i'm going to tell you why we have this ascending level of support right here right. We got a false break, which i wouldn't quite signify, especially with something like the nasdaq.

Of course, this is on a weekly chart, but for me to signify a true break away from support right, i want to see a hard candle push underneath, which is what we get right here and open in a close beneath that support line, which we got a Little bit right here a little bit of a false breakdown, but it did back up. This could have actually been a warning sign of an upcoming potential market correction right here, but uh you get the picture here once we got that hard candle that closed open and closed beneath that level of support. We got that sell-off. We uh we, we were covered on there.

We got that 50 retracement bounce and the picture repeats again right. The market has patterns. They follow these same sort of trends. We get this ascending level of support.

We get this wide range candle bar that breaks beneath it. I ideally would like to see it open and close beneath it, but we get it here. We've got a long topping tail in this candle which to me signifies right on a weekly candle basis. We've broken that level of support saw that selloff got another 50 bounce and we're back in business right.

So what's happening now. Well, we had a crazy bull market recovery off of that that pandemic sell-off. We got a little bit of uh. You know a pullback right here lasted for about a month got a little bit of green bounced very well.

I'm gon na drop a fibonacci retracement. Just give you an idea of what this looks like and i'd be dang surprised if this isn't like a 50 retracement. In fact, it really wasn't even a bad one at all. That was like a 38.2 retracement, which is super super nice.

That is not a harsh retracement in the least bit right. So now, if we look at this right, this microscopic pullback that we're seeing right now. What does this actually look like? So i'm gon na change this back to the daily charts. This is gon na give you the same overall picture, but i'm gon na drop.

Another fibonacci retracement we're gon na get an idea of what this pullback might actually look like. So taking the most recent price action, we can see that we've already tested 38.2 percent right. We've already done it, we rejected. We haven't quite gotten that bounce off of 38.2 percent, which means that we're pretty likely gon na see.

You know whether you want to believe it or not, just based on previous trends. These are the two levels of fibonacci retracements that we've seen bounces off of at 50, which is about 12 598. So i personally believe - and i'm not saying this to scare anybody - i'm not saying this - to get you to sell your positions. In fact, i don't want you to do that.

I'm saying this because i want to i want to. I want to get you ready for the worst case scenario right. Maybe i'm wrong worst case scenario, i'm wrong. This is the bottom right.

This is the end of the sell-off, but candle candle setup wise. This is not telling me this is the bottom there's absolutely nothing on the charts telling me hey we're about to see a bounce here, we're about to see the bull market continue right and that's that's. Just not the case, but one thing that i do like that. I do want to give you, as maybe some hope here is.

I don't think that the amount of distance we have to cover to to to to reach the bottom here is that much so we were down three and a half percent today on the nasdaq. That's how much distance this huge red candle covered, which is a lot! That's a lot for an etf to give back three and a half percent right, so the rate at which this has been pulling back to me signifies that you're pretty likely to see this bottom out in a very, very quick manner. I don't think it's going to be a two-week sell-off. I don't think it's gon na be a one-month sell-off right.

I don't think it's gon na be a crash. You're not gon na see this absolutely burn. I think it's a correction. I think you're looking at a one to two week possible correction and a bottom out here at twelve thousand five hundred ninety eight dollars.

So what's that gon na look like in the grand scheme of things right? Well, if we just drop really quick, you know i'm not going to tell you an exact number, but if we just drop, you know the distance here and we move this candle to about here and measure it up. What does this look like about? Half of that candle, which would be about 1.75 percent more of a market correction in terms of just the nasdaq alone. So if that is true, you know if we look at the overall market, just look at how red things were. You can see the torch light was down.

Seven percent exxon was down eight percent, you know, dropbox was down 2.65 et cetera, et cetera, et cetera. All these stocks are huge beans. I mean even sonics today had crazy great news release and uh. They just got pounded.

They didn't get anything good out of that so rough. It was a rough day in the market, but if you cut this in half right, if the nasdaq only has about one and a half percent left, of course, if that's that's, if we meet the trend - and we continue that trend the market corrections right, you could Probably cut in half the rest of the market corrections as well, so maybe centsonics has to get back another four percent until it bottoms out what would that look like, maybe somewhere around here, right you're, respecting that level of support? Maybe you're, testing out this. This can of wick, maybe a hair below that right. What that look like for mbis, maybe that looked like giving back another dollar.

So we closed the day at 16 and 18 cents now we're at 655 right now, so maybe you're looking at you know 15 and some change right. So you guys get the point here. I don't want you guys to be freaking out because the market's done the market's over it's crashing. It's the end of the world, because it's not.

This is not the end of the world for the market, and i really really want to double down on that. In fact, this is the best opportunity that we've had, and i would say, literally months literally months, this is the best opportunity we've had since november of 2020 to buy things at an undervalued price. The market's been bullish for a long time guys and to have a little bit of a bearish pullback right i get so amped, i'm like thank god. I get to buy stuff for cheap.

I mean christine says this all the time and i don't want to just copy what he says, but he says when they sleep, we eat and it's a little bit cheesy a little bit corny. But it's legit man, it's legit traders and investors are the only people on the planet that will buy something overvalued and then sell it out of fear when it's undervalued that'd be like me driving off of a new car lot, and i just one day i decided You know what man i'm gon na buy this brand new 2020 honda crv, that's what i drive believe it or not. I got that back in uh in july, but i bought that for thirty thousand dollars and then be like me. You know two or three days later saying uh, i don't know if it's worth three thousand dollars anymore.

You know i better sell this for for five thousand. How does that make sense? That makes no sense at all. Don't let people scare you out of your money? Don't let this market correction? Thank you that the the world is coming to an end, because it is not right. This is an opportunity for you to load the boat, improve your positions right, that's what i'm gon na do when i've got dry powder when i get paid here tomorrow by the army.

When i get my uh, my patreon check on monday right, i'm gon na. Take all that cash and i'm putting this straight into the market and i'm loading the boat on these stocks, that i've got heavy conviction in i'm buying into my sensonics i'm binding to my mbis, i'm buying into my agtc right all these stocks that have been taking Huge dumps lately they've just been getting crapped on right. I'm not freaking out. This is an opportunity for me to load the god dang boat on this right.

So do not panic. Do not panic. I really want to say that with the utmost confidence. That is how i am predicting this to play out.

I'm not a financial advisor there's no way i can break what the market does exactly, but i'll tell you what if we look at this on the weekly chart again the weekly candlestick chart, it has respected that trend over the last couple of years and i'll be Willing to bet you that has done it more than once. In fact, if we come back here, we just drop. I'm just going to be more examples, just to show you the strength of the market. 38.2 percent bounce here right.

So we can predict that right. That was an exact 38.2 bounce. We look over here. What is this? That's a harsher market correction.

So 61.81 percent right. So that's a little more rough, but more often than not. We don't see these crazy crazy sell-offs. I mean this is back in 2008, when the housing market crash happened.

So that's that's a little bit of an asterisk. Obviously that was really really bad, but you get the picture here. Is there is nothing to worry about we're not looking at a housing market crash sort of situation? There's no catalyst like that. That's going to cause this insane insane sell-off, and even when kobe did the quarantine pandemic, all that stuff was happening right.

What were we looking at? What were we looking at in terms of a sell-off? Look at this blip, that's what we saw we saw. We saw this this right here. We saw this minor sell-off and it might look big in the green like at the moment right, but in the grand scheme of things. Look what followed right! You want to be a part of that.

I'm telling you right now! You want to be a part of that you want to buy in when stocks are just getting crushed, because that is an opportunity for you to get into this for so cheap and really turn a filthy, filthy profit. So i just want to pull up one quick indicator here. I want to pull up the 200 ema and we're just going to look at this on the week. The daily chart again the daily candles - and what you can see here, is that the 15 ma is still actually trading over the 200 ema right now.

So this is technically still in bullish territory, which sounds insane. That sounds absolutely crazy, but it's! Oh, it's because these indicators are messed up, hold on all right back to reality. So my point being my point being check this out in terms of actual bearish pullbacks, the last one we had was back during the quarantine back during the the pandemic, the lockdown right. That's when we actually entered a true bear market.

This is a pullback. This is a minor pullback. Look at this. The 15mm is literally just starting to hook down.

So this is nothing to be concerned about. I am not concerned in the least bit about this pullback. My friends, this is gon na, be a blip in the grand scheme of things. You're gon na look back at this a month from now you're gon na say i am so glad i took the opportunity to buy the dip and sell the rip man.

That's what i have for the video today if you enjoyed it, please drop a like if it doesn't support the channel or consider subscribing you'd like to see more content like this. Lastly, i'm gon na fill in the description box down below for weeble. This is version 4 for the desktop great platform that allows you to start training at 4am in the pre-market. If you use money to get two free stocks with 100 deposit, i receive a free stock, great support of 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, so that was what i have for you guys today. Thank you for watching my friends and i will see you all next time. Peace,.