What's going on moon gang, i hope that you had a phenomenal weekend and we're here to talk about the old stonk market. I want to do a little bit of a preparatory work for the final training week of june, and really what i want to talk about is why i am bullish, at least in the short term, with a capital b. I have a lot of reasons we're going to be running through them all and then at the end of the video, make sure you stick around for that, because i'm going to be explaining how you can win a thousand dollars this friday to wrap up the week And the month as we get into not only the new quarter new month and all that new jazz as we're really getting underway with this summertime training. So, with all that, out of the way, let's get rocking before we get into the meat of the video, there are a couple things i need to quickly go over just because they're very important for what's going to be playing out not only this week, but next Week, first of all, you need to know that this week that we're going to get into wrapping up june, it's a full normal trading week, but the following week is not.

The market will be closed on monday july, 4th, obviously an observation of independence day. So for those of you who are options, traders just understand next trading week will be a short in training week. In terms of this week, we have some important economic reports coming out. We have the durable goods orders, there's stuff going down on tuesday and wednesday, but all eyes will be on thursday june 30th, particularly at 8 30 a.m.

Et, and i'm talking about the pce report, the personal consumptions expenditures report - this is actually aka. The fed's favorite inflation report before we've talked about the cpi, the consumer price index, the ppi, the producer price index, this one, the pce it's similar to the cpi, but the reason that the fed likes it more is it's a bit broader? So when you talk about the cpi, it's referred to kind of out of pocket of basically someone directly buying something the pce is not only out of pocket, but it's also people who are kind of the in between like buying for someone else. So that's just the high level and i do encourage you to give it a quick google search, but just so you know, the fed really really really cares about this report. The pc, the personal consumption expenditures report, it's another.

Inflation report pay attention thursday june 30th. 8. 30, am there will be volatility and also just because we're wrapping up the month of june, and just so you know seasonally it's a bit bearish, but as we get into this final week and also all of july seasonality over the past two decades worth of data, It is bullish just because seasonally it's been bullish in the past. That doesn't mean it has to in the future, but it kind of gives you a little bit of an idea of how things have been playing out in this particular month in the past.

So, for me, this is actually reason number one why, at least in the short term, once again, just in the short term, i do think we're going to see another new year to date, low, just and i'll. Save that conversation for just a bit, but in the very short term, i'm talking about like over the next week over the next two weeks, something like that time frame. I am bullish and here's reason number one, because seasonality is saying from the end of june to the end of july. Over the past two decades, hey it's been bullish, so obviously in the world of trading history doesn't repeat, but the saying is it often rhymes? So i just wanted to quickly throw that out there now in terms of the market.

Here is where we are. The s p 500 closed out the week with a nice 3.2 percent gain. For me, it was a phenomenal phenomenal day if you were catching that stream. We were partying in to close on friday, because this pop, which was a nice pop, it was a windfall it was a windfall and all those trades are posted on local, so make sure you're checking that out.

That's in the description below, obviously the qs, the tech heavy sector had a nice gain of 3.4 and even the small cap sector 3.1, as i'm filming this in real time, bitcoin pretty strong above 21, 000, almost 21.5 and oil still taking a breather off of that. One above 115 and got as high as 122., but once again it is bouncing off of 102. if oil recaptures that 115 level, i do think it's gon na rip, in fact, i'm still very bullish on it and i'm not alone. Even warren buffett.

Recently loaded up a couple billion more into occidental petroleum ticker symbol: oh xy, i am still very bullish on oil, so just wanted to give you kind of the quick rundown of we closed out last week and now, let's kind of get into what could be playing Out soon on friday, as you can see that nice gain of 3.2 percent, i have it marked here before we were training. On friday there were four gaps as we were opening. We had two gaps to the downside right here in red, so a downside, capital and then two gaps to the upside and upside gap. Bill in the world of trading gaps represent areas where the supply and demand are untested and markets, especially when you're talking about overall market indices.

They love to test those untested areas. So as soon as you see a gap, especially on the daily chart, especially if you see it in the futures market, there could be an advantage there. There could be an edge in trading that so for me. On friday i was bullish just because i thought we got a little overextended reason number two, so not only seasonality, but now reason number two look how low the rsi was.

There was simply too much bearish momentum and the bears were most likely running out of strength. So all of a sudden we have seasonality slowly, but surely turning into our favor i.e being bullish. You have such an extreme oversold nature that it's logical to think that there was going to be some sort of bounces, because how much selling power do they really have it's natural to ebb and flow, and then from there you get these two upside gavels. Now.

For me, i captured all of my profits on this gap fill right at the end of the day, but yes, there is still another upside gap, fill all the way to 401. 50.. Now, of course, we might fill these two before we get there. It is a little bit wonky when you have multiple gaps like usually you don't see multiple gaps, it's actually rare to even have one, no less, still three active gaps in the s.

P. 500, but hey that's just descriptive of the times that we're in. For me. I am still going to be bush and i would love to play this all the way up to 40150, but we had one two three, four five green days in a row, so i wouldn't mind a little bit of a retraction when i can get in at A lower price and then play it back up to this 401 50 level.

Now it might come, it might not come. I fully plan on being reactive, not necessarily predictive, but this is totally what i'm looking for. A gap fill up to 40150 and at that point just because yes, inflation is still very bad. Who knows what's going on with the government who knows what's going on with the fed? Who knows what's going on with russia and ukraine and our food supply and our energy supply? The list really adds up.

I do believe we're still going to go to another low in the year of 2022, so at this level, either four or 150 or maybe all the way up at 4. 15. If we really kind of get some, i guess we'll call it tailwinds really pushing the market. I would actually like to create a new short position, not directly shorting, more so buying puts against the overall market, but in the short term, definitely definitely looking for this gap.

Fill just to reiterate up to 401.50, i think that's gon na be a money play so seasonally we're being supportive of this pop. Obviously, the pce report is coming out and that can mess things up. So that's going to be a 50 50 shot. We'll have to pay attention on thursday, but seasonally we're looking good structurally in terms of the chart.

Yes, there's a gap bill and also the rsi is oversold, and if you really want to get technical, there's other things going on. Look at the moving average convergence divergence about to cross over. There are many algorithms that trade on crossovers which we're about to get and that could trigger them to go long, we're also getting into another new month and that especially because of how much the market has come down that could trigger some of these big funds. Big banks, pension funds to do another round of buying, and then i just i think, right now the bears who were late to the party.

They could actually be in quite a bit of a trouble check this out. The s p 500. The estimated current short interest. 19 18.9, so they might get squeezed out.

If you look at the nasdaq 100 14.2. And then, if you look at the small cap sector iwm 38.8, now these aren't absurdly high values but they're high enough that the people who are late to the party, the bears who are late to the party, if there's more and more strength, they're gon na start Sweating bullets and if they have to close their shorts, that's more buying power, so any of the reasons i've given in this video like by their own, i don't think i would love, but when i add all these up, that's exactly why, in the short term, i Am bullish with a capital b, and i'm mainly looking for this gap, fill of 401 50. for those of you who stuck around do not miss the stream on friday july 1st. Not only is it just going to be a new month and a new quarter and all that good jazz, but hey on this channel, every single friday is payday friday and we will be giving away another thousand dollars so usually you're going to want to be there.

During the stream recently, it's been around 10 a.m, but if the market's going crazy, it might get pushed one way or another by 15 minutes, but generally around 10 a.m, et through various things such as like tweeting or commenting or guessing a random number. You can get in your chance to win a thousand dollars. We've been doing this now for the past month and if anything, it sounds like it. We're just gon na want to get bigger and better with it.

So if you have any cool ideas, please reach out to me, but payday friday, this friday 10 a.m, be there be square, get your chance to win a thousand dollars. That's what i have for you get excited for the upcoming week, because i think we're going to see some bullish volatility, the upside and hopefully we can make some bank i'll catch in the next video.