Trading & Investing: Today’s Technical Trading Levels Markets, Stocks, BTC, ETH Gold, Silver & More

Trading & Investing: Today’s Technical Trading Levels Markets, Stocks, BTC, ETH Gold, Silver & More

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good morning everybody Welcome to the
game plan my name is Gareth Solway Chief
Market strategist here at verified
invest ing.com lots to discuss as always
folks we’ve got stuff that’s whipping
left and right did you guys see the
stock market yesterday afternoon the
crazy wild swings there the moves in
Gold the metals as well as the crypto
market so let’s get right into it let’s
get things going all right let’s see
what we have in store for us number one
right to the website don’t forget guys I
wanted to show you this real quick is
that if you scroll down on the website
now remember all the information we
already give you guys and now we have
even more we have an education section
and again this is for people that want
to be educated which to be honest is the
most important thing new articles on
various things like the largest golden
rare Earth’s countries out there what is
staking what’s the difference between
the Dow and the S&P the positives of
dividend investing all of these things
right here guys are in here and again
just as always you can scroll sideways
and there’s even more educational
content I love this one by the way why H
when and why the gold standard failed
that’s a good one as well if you’re into
stuff like this like me so this is all
free on the homepage guys homepage is
filled with information and it’s only
going to be added to I want this to be
the resource that everyone in the world
comes to here at verified investing all
right what we’re going to do next is
we’re going to get into some chart
action here I want to start really on
the US dollar and again the dollar here
today and we’re going to look and talk a
little bit about the FED yesterday but
yesterday we did see a big drop in the
US dollar but it’s still holding pretty
much stationary where it has been and
again there are few reasons for this so
number one it was starting to push up
the previous day and then the FED kind
of smoked that to the downside and
brought it in but what we have to
remember is that the US dollar yes it’s
there’s inflation right and and the
normal thought process is oh there’s
inflation therefore the dollar should be
going down that’s not how the dollar
works the dollar is an is basically a
currency that’s
pushed against other currencies or it’s
compared to other currencies the Yen the
Euro Etc all these other currencies and
so it really has no difference on what
the inflation rate is in the US it’s all
about how is it fairing against these
other currencies is it going up against
these currencies is it going down
against these currencies so just
remember that that’s a very important
factor okay so bottom line we still have
on this I would still consider this to
be generally bullish that I would still
still think there’s a chance we can go
up to this 107 Target on the Dixie now
again just going back to yesterday
yesterday we saw these wild swings in
the S&P 500 I want to bring this up
right now so Jerome Powell basically
began to speak the markets ripped up
when he was done they ripped back down
overnight and this is the Futures data
this is essentially pre-market data we
slowly have been floating back up now
the key is this the mainstream media
began to spin this they spun like a
beautiful pretty picture they said oh
the FED did announce that they’re going
to slow their runoff of of um of assets
on their balance sheet again remember
what the FED has been doing not only
have they been raising interest rates
well they haven’t lately but they were
raising interest rates but they were
also selling massive amounts of their
assets that they had accumulated on
their balance sheet and when you sell an
asset when the FED sells assets It
ultimately works as a tightening
mechanism for the markets so the fact
that they’re slowing that from 60
billion to about 25 billion a month that
to me yes it is a slight way of easing
it’s kind of like the precursor to rate
Cuts but it’s not significant but the
markets at least the mainstream media is
really making it out like oh my goodness
this is the start this is it the FED is
again starting to loosen monetary policy
and that again is bringing us back up
pre-market now again just to give you a
rundown that’s basically what’s going on
here from yesterday’s fed all the way
through the overnight the other thing to
note we did have jobless claims this
morning jobless claims again amazing
numbers and these by the way jobless
claims for those of you that don’t know
people that are filing for unemployment
208,000 historically that is a very low
number we’ve been staying below 225,000
for a long time that’s my Pivot Point on
the chart we get above 225,000 I think
there’s something that’s coming and
there’s something that is is in the in
the works essentially in terms of
unemployment Rising as long as we’re
below 2 25,000 per week in unemployment
claims it’s basically it’s fine
everything is fine okay so and by the
way when I say everything is fine
everything is not fine but at least to
the markets the labor market everything
will be fine for now now we look at this
chart guys this is the chart of the S&P
500 we know our long-term uptrend was
broken we collapsed we did a retrace to
the scene of the crime right here and we
got rejected now again for me the things
that watching here going into the next
day or two or even early next week is
basically just following along does this
level hold and do we take out this low
if we take out this low right here then
likely you’re going to see that next
wave of big selling that will take us
significantly lower if we take out here
and we go up here essentially the only
thing that would change is that you now
start to look at having a wedge pattern
right so if we look at this and I’m
going to put a wedge pattern really
quickly on my chart chart uh just in
case this happens and by the way this is
gaming the markets this is what you need
to do is you need to game the markets to
figure out what the different
possibilities are and then you
ultimately choose the one that has the
highest probability and that’s the way
you trade if you so choose but you can
see right here what I did was I
basically connected this low to this low
and we’re going to open somewhere right
around here today right but then you can
connect these highs and so if we do
let’s say we do start to Trend up your
resistance line is going to be right in
this range and you’re starting to create
this Channel and then eventually you
come back here and my guess is either
way you’re going to go lower I don’t see
a path outside of going lower because
again with inflation High the FED is
handcuffed yeah they can do a few things
like little less runoff on the balance
sheet maybe one or two rate Cuts but
they’re not going to be able to save
things when things start turning South
because inflation remains high now
inflation by the way oil is starting to
break down gasoline is starting to break
down that will help but that also sends
a signal when you see oil starting to
collapse and I’m going to talk about
this in just a little bit and gasoline
that’s a direct indicator of what is
expected in the economy so now all of a
sudden we’re seeing a shift to more of a
a recession expected via the Commodities
investors granted the Talking Heads
aren’t talking about this yet
everything’s going to be fine according
to them but this is something we have to
pay attention to all right uh now I do
want to get into some earnings here
today we did have qual yesterday after
the bell I was really watching this
trend line and I’m going to watch this
trend line today because price did break
below it and then created a bare flag
right now we are trading above it but we
also have this double triple top up here
so on Qualcomm if we go to our 10minute
chart which shows us our pre-market data
right now you can see we are trading at
17380 so this was initially where we
closed Big Pop sideways chop and a
little bit of a float up the levels that
I’m watching for so there’s two so day
tradeable the high risk but day
tradeable would be that double top on
the chart if we flip back to the Daily
the double top is the yellow line or
triple top technically so this is going
to be a little resistance right up here
right and that’s around one
76.5 give or take so that’ll be your
only real resistance that I’m seeing
here and then on a daily closing basis
what I’m watching on Qualcomm on a daily
closing basis is do we close above this
line this orange line or below it below
it would be very very bearish above it
would be neutral to positive not not
fully bullish because it would have to
confirm back above that line to really
become bullish again but it is something
that we’ll be watching today in the
Qualcomm action now that was one stock
most stocks are getting crushed today
guys take a look at door Dash door Dash
collapsed on earnings yesterday after
hours going from basically a closing
value of about I don’t know looks like
it Clos around 130 dropping as low as
106 it has bounced about $10 but the
thing here is we had Etsy earnings not
good door Dash earnings not good Etsy is
a consumer stock right so that again is
not a good signal for consumers if Etsy
is struggling door Dash people are
ordering food or lack thereof in this
case lack thereof that’s also consumers
potentially pulling back a little bit so
if you look at some of these earnings
you start to see a pattern developing so
many stocks this this earning season
have come out with good earnings but
then they’ve warned they’ve lowered
guidance for the next quarter and again
you look at some of these stocks like
Starbucks and I talked about Starbucks
yesterday A lot of these stocks are
starting to run into consumers that are
not quite spending as much as they were
prior and that again is a precursor to a
recession potentially so anyways going
to Door Dash where are levels on door
Dash here if we bring up the chart so
again number one door Dash was rallying
quite a bit right look at this uptrend
and then same sort of thing in fact you
could even draw a trend line right
through these lows right so you had
broken a little bit of a bearish pattern
we’re now trading around 116 right here
but we were as low as 106 where are the
levels that I’m going to look for and
honestly I don’t have much on this chart
unless we go down see this flat top
right here and I’m going to put a trend
line in right here so we can do this
with you guys but basically this would
be a significant level for me if we got
there today probably more as a day trade
frankly but nonetheless a level so Pivot
Point here right through here right
through here and it’s basically just
below
104 right just below 104 so 104 would
get me interested we then have
additional levels at a gap fill right
here and a pivot low right in there and
that would be just below the even number
of 100 all right more trading options
for today or or potential analysis take
a look at Etsy guys this is a tough one
so Etsy again yesterday closing
basically around $70 trading at
$587 that’s a huge percentage drop about
15% I believe if we go to the daily
chart there is one level that I’m
watching okay so the level here so look
at this look at this little wedge
pattern development see this wedge
pattern I had to kind of zoom out
because we have to go back here maybe I
can zoom in just a little bit so we see
it a little bit more clearly but
basically what I’m doing here is we’re
looking right here we take this low here
and we connect it to this low right over
here and we get a level around $55 so
there should be some technical support
around $55 on Etsy for a potential
bounce today um but again the stock is
getting slammed there’s no doubt about
it but 55 stands out to me as a
potential technical support level now on
a positive note carvana all right don’t
ask me why this stock is doing so well
well obviously their earnings were
pretty solid but what a move on carvana
guys huge move up they beat earnings
they they basically came out and and
surprised everyone in addition this is
one of the most highly shorted stocks so
there’s a lot of short covering pushing
this up but right now carvana at 100 and
just under
$120 again because it’s a highly shorted
name it could squeeze so be very careful
on this but basically suffice it to say
I don’t really have a level there’s a
little bit of a level here and again
it’s hard to see let me see if I can
zoom in for you guys all right there we
go so it looks like right around 13 33
to 130 yeah 133 there’s a little pivot
here right through here and that line
goes right up to about 132 to 133 that
would be first resistance I probably
won’t trade this today it’s not a big
enough company for me to trade I try to
stay 50 billion or greater in terms of
market caps but I do like to give you
guys the levels just in case uh we can
watch it now another horrendous earnings
report here from fastly now fastly again
is not a big company but it is getting
crushed today take look at this you can
see I have a trend line in here already
and one of the things to look at here
guys look at this move down holy cow so
this stock closed basically at $13 it’s
trading at $8 that’s a massive decline
percentage wise now again looking at the
chart where do we get our first
technical support and if we go back to
the daily chart and we have to zoom out
on this there’s a double bottom around
$730 now we’re near eight bucks that’s
not outlandish to think we could go down
to about $7 30 so just keep it on your
radar here that that could be a level
but again smaller company getting
crushed the smaller the company the less
predictable the chart is that’s just the
nature of the Beast because it can whip
it it like basically when you have a
small company and they screw up on
earnings people start to wonder can the
company survive can it this it moves
much more versus like if Apple misses
earnings today yeah it’ll have like a 3
5% move maybe 6% move but Apple’s Apple
it’s not going anywhere so you don’t get
the kind of crazy volatility that you do
on these smaller names out there okay on
that note guys I do want to quickly do
our drawing yesterday again was
absolutely amazing we had uh um the one
minute scalpel Dr B’s amazing course got
uh was landed on the wheel so we’re
going to do a quick drawing to see who
wins this course today and again this
course by the way it’s meant for day
trading the one minute chart but it’s
literally the stuff he teaches in there
it’s applicable to all time frames it’s
really remarkable amazing course all
right P purita select right there you
got it you got it right there well done
congratulations and again P select is
the winner today so reach out to loton
at verified
investing.com all right on that note
guys what I want to do now is we’re
going to flip over to the wheel and
we’re going to do a spinny spin spin and
see what we come up with which will be
the prize for tomorrow
oh nordvpn guys one year of nordvpn that
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very cool there I know a lot of us if
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nordvpn I thank nordvpn for donating
that to us for this board of or this
wheel of appreciation same thing guys
share this stream that’s what I want you
guys to do it’s working we’re starting
to get more views I think thank you from
the bottom of my heart for this if
you’re finding this useful share it with
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followers your Facebook followers your
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just confirm it got shared and you are
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all right guys we’re not even going to
take a commercial break today we’re
going right into the charts let’s go
right into it what do I have up here I
have gold all right so gold we have
action yesterday we got a bounce on gold
but one of the things that I talked
about to my members at smart money
stocks and ETFs and smart money
Commodities don’t forget I have a
commodity Service as well that’s
crushing it we just started it already
multiple winners but one of the things
to watch here is that you still have the
dominant factors that are negative what
do I mean by that here’s your topping
tail okay here’s your bare flag yes you
got a bounce yesterday but to NE negate
the bare flag you would have to close
above this candle right here therefore
the bounce yesterday was a whippy bounce
on the FED today what’s happening we’re
going right back down very cool right
there so what do I expect I’m still
looking for a $2,200 Target price on
gold to the downside that basically
brings us right back into this shelf so
again look at it like a shelf right if
you were to drop a ball onto a shelf
this is where it would the ball would
stop it would bounce here right so
that’s the idea behind it now do I think
that gold could even go lower yes but
for me at least and I’m just speaking
for myself is that I want to start
picking up gold again on a swing basis
and my first level will be to start
accumulating it here and then we’ll look
at further levels to the downside and
I’ll just accumulate as it goes lower
but nice to see I’m actually weirdly
enough as as much I I have lots of gold
on a longer term basis Holdings but I’m
still rooting for it to come back in
more because I want to accumulate on a
swing basis the gold chart all right I
want to quickly go to Silver and then
we’ll go to bitcoin guys don’t forget I
know usually I do Bitcoin but we’re just
switching it up a little bit today what
have I said to you guys about where I
expected silver to go when silver was up
here what did I say to guys I mean we
were at 29 over we hit 30 basically and
I said to you guys guys look for a
pullback to 26 to 2550 well guess what
we’re at
2603 right now so we get down here a
little bit more and again I’m going to
start to look to accumulate this is my
zone now because let me ask you guys a
quiz question Gareth says this is the
zone does that mean he’s going to be
100% right no right this is just a way
to find the technicals which push the
probabilities in my favor so yeah I mean
I’ll probably be buying somewhere
somewhere in here I don’t know where yet
but somewhere between 26 to 2550 I’ll
probably start accumulating I do it the
smart way the smart way for me is the
way where I’ve learned in the past by
getting burned so many freaking times in
my early career of like I’d be like Oh
I’m going all in at 26 and then it goes
down here and I’m like oh crap now when
now when it bounces from 24 to 26 I’m
only back to break even I’m like well
that sucks you know so again these are
things that I’ve learned the hard way I
pass my knowledge on to you guys in
hopes that maybe you guys avoid a few of
my early mistakes that cost me so much
money but basically what I’ll do is I’ll
just buy a little bit in here a little
bit in here maybe a little here if it
keeps going lower I’ll just accumulate
this is a huge level down here that’s
the one I would want it to hold as long
as it holds that we’re good it’s a
longer term UPS sloping trend line okay
on to onto Bitcoin real quick here as we
go through so Bitcoin is getting a small
bounce today but look at what we have
here so number one we confir confirmed
below this line here this is that this
was this longer trend line so that is a
a negative now the positive is if you’re
a bull is that you closed below this
channel but you haven’t confirmed yet
below that either so you’re right
underneath it’s trying to get back above
it is trying so hard it’s already tagged
the line and again it hasn’t gotten
there yet but it has it’s trying you
want to see if you’re a bull you need to
see it recapture basically 59,000 gets
back above 59 and holds there then maybe
it can at least retrace to this level
but the problem is that’s now a
confirmed resistance line so It’s Tricky
this is this is a trickier chart for
Bitcoin Bitcoin again doesn’t mean it
can’t rally up but it’s just becoming a
harder chart because there’s more
roadblocks being put up right I mean you
have a roadblock well first of all
there’s a mini roadblock here then
there’s a big heavy one here then you
have this High here then you have the
Downs sloping trend line here this high
and this High more and more roadblocks
are being put up which makes harder it’s
going to take more and more buy pressure
buying volume to come in and again we’re
seeing the ETFs starting to stall out on
their inflows a little bit as well which
isn’t helping the case now I’ve been
pretty steadfast to you guys that I said
I said this a while ago even when we
were at 74,000 you know people were
making fun of me left and right and I
said guys I honestly think this is
coming back into the 50s maybe as low as
this here this level right down here
right right here and maybe as as low as
here just again the level is basically
52 to 53 down to 9 again we got to 50
close to 55 we’ll see if we get there
but that’s where I start to get
interested myself at accumulating some
Bitcoin uh as I would expect a technical
bounce there ethereum we covered our
short yesterday so far that was a great
cover guys and I explained to you that
it’s a risk reward assessment doesn’t
mean ethereum can’t go lower it’s just
as a swing Trader I had to acknowledge
the chart was into dual two Crossing
support lines and sure enough we’ve
bounced honestly we’ve bounced about
$200 plus dollars since I got out out of
that so that’s a nice little exit for
our members at smart money crypto now
again you can easily so you’re you’re
holding support here’s resistance so you
could go up here but you could also go
here the key is do you break and confirm
that would be a big drop or you can come
up here and break in confirm and then
you get the big pop but essentially
we’re still stuck in this kind of major
support range on this chart here of
ethereum uh oil guys holy cow look at
this is the intraday 10-minute on oil
it’s going lower yesterday there was a
head and shoulders that broke it
triggered we knew that we had major
technical confirmed breakout and now
that has failed everything to me is
looking bearish on oil now guys this is
not good on oil I’m going to flip over
to the daily chart and whoa good there
we go all right so here we have it so
look at this here you have it right so
look at this drop and this was kind of
like so look at the pattern you guys
know your head and shoulder patterns
that’s a that’s a head and shoulders
there’s no doubt about it and the line
was right at the confirmed support so
once you broke it this is good night
listen and you will bounce don’t get me
wrong you’ll bounce you know we will get
bounces here on oil but if you do a
measurement for the calculation from the
high of the head to the line you get a
$74 Target so I got to at this point I’m
in the camp that we’re going to 74 and
by the way the FED is loving this
they’re loving this because this coupled
with ug ug which is an ETF for gasoline
let me see if I can actually buy bring
up the spot yeah the pepper Stone there
we go so I can actually do this look at
the roll over on on gasoline now it’s
still significantly higher but this is
how you get inflation down you got to
get oil down and you got to get gasoline
down you got to get the ones that are
the ones that are affecting Americans
the most that’s how you’re going to get
it down and by the way that’s also how
you win elections just making a point um
in any case see how that comes down here
we’ll see how much more it comes down
but by the way i’ I’ve done trades like
that doesn’t matter who’s in the white
house but I’ve done trades in my history
history where I’ve shorted oil a few
months before the election and it almost
always works almost always works all
right uh last chart here real quick guys
quickly onto natural gas natural gas
getting a little bit of a bounce here
let me zoom in a little bit so we can
get a clearer picture on this but
basically Nat gas and I think this must
be the weekly chart there we go yep KN
gas is getting a small little bounce
here guys it’s still in the range I
still have an upside Target of 220 to
225 taking a lot longer than I thought
frankly natural gas is usually a very
volatile commodity not not very volatile
in terms of its up moves at least lately
so I’m still looking at that so we’ll
watch and see but as of now guys I think
that’ll end it for today I’ve got to get
back to the trading room the Apex live
trading room where we just continue to
crush it for members in there with day
trading levels that we’re calling out
live over our microphones to you guys
you guys view our live charts you ask us
questions it’s pretty darn awesome all
right thank you so much for tuning in
don’t forget to share this stream we
appreciate you from the bottom of our
hearts guys I’m here I’m going to do my
best to always give you everything I
know everything up here goes right
through to you guys that’s how again I
feel better about myself and what I’m
doing for this world and I hope it’s
helping you have a good one take care
[Music]

Master Trader Gareth Soloway breaks down the charts and macro data like nothing ever available to the public. Usually kept for institutions, Gareth reveals tactics, trade levels and analysis that will blow your mind and make you a BETTER investor/trader. He covers stocks, commodities and crypto and will walk you through everything you need for the day to be a winning trader and investor. The Game Plan rockets past CNBC, Fox Business and Bloomberg in quality and actionable alpha. The show is a quick 15-20 minutes LIVE. Gareth is all about pure charts and data, no emotion. These are the keys to profitable investing and trading. Tune in at 9am ET Monday-Friday or if you can’t make it, be sure to watch the LIVE recording which posts immediately after the show airs! Others are making money and learning valuable trading tactics, don’t miss out!

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