What's going on moon gang, i hope that you're having a good one. This is your market wrap up with me, matt for tuesday june 21st, we're going to be talking about the overall market. What's going on with the feds some interesting equity updates, but we're also going to be talking how there's a surprise movement in the world of crypto. You heard that right, shiba inu is ripping off faces at the time that i'm filming this video it's up over 30.

So we're gon na be getting into what in the world is going on with this particular cryptocurrency with that being said, let's hop right into it. So, as we return from our extended weekend, things were pretty green. It maybe didn't necessarily feel like it, because most of the green came in the first hour and a half of the day, but overall the spy was up. 2.5.

The queues were up 2.3. The russell was up 1.8. You have bitcoin currently trading just below 21 000 and she look at that up. 32.

So obviously we have quite a bit to talk about. Let's kick it off with what in the world is going on with sheep. Now, surprisingly, not that much news, i wanted to share this, though you knew over 90 percent of the world, gearing up to accept sheep and it's mainly through a connection with bit pay and edge. So as soon as people are accepting that that means they'll have connection to sheep and that's some obviously positive news.

But the main thing is, more so related to doge and elon dogecoin achieve a new prices pump as elon musk doubles down on doge, shibuyunu and dogecoin. The crypto market's two biggest meme coins are skyrocketing and, as you saw, they are definitely skyrocketing. In fact, just you know doges, i'm filming this is up seven percent. The move follows comments by elon musk after the qatar economic forum, in which he reiterated his support for doge.

I intend to personally support dogecoin because i just know a lot of people who are not that wealthy and who have encouraged me to buy and support dogecoin. So i'm responding to those people. The billionaire entrepreneur, also said that his own employees had asked him to support the cryptocurrency they've asked me to support dogecoin. So i'm doing so so there you have it with doge, but in the world of meme coins.

We're upside down is right side up and what makes sense doesn't actually make sense. Doge got the call out, but then because it's associated with being a meme coin, and then you have fomo and people getting hyped up. That's when you see she ripping through the roof. Hey i'm in both and i'm here for the lows, so i'm not gon na mind it whatsoever, but also in terms of news.

We have this and obviously day over day. More and more tokens are being burned. So that's another positive thing. Obviously, supply going down demand staying same that's, going to push the price up and also it helped that we got an overall bounce in the world of crypto, especially over the weekend when bitcoin went as low of 17.5 000.

So you have special comments of doge. You have some fundamental positive developments in the world of sheep and then also crypto itself is bouncing. That's pretty much the skinny on the situation and i'm excited to see where it can go now. Let's turn it over to a little bit about the world of just equities and what's going on there, the dow jumps over 600 points.

The s p 500 adds 2.5 and come back from the worst weekly loss in two years, so we're getting that nice reversionary bounce before we get into the chart. I do want to let you know that tomorrow, wednesday, the 22nd at 9 30 a.m. Jerome powell, the chairman of the fed, will be speaking with the senate, so be prepared for some moves there and then again on thursday, the 23rd he'll be speaking with the house at 10 a.m. So for the next two days early in the morning, we are clearly gon na have reactions in the market from what the chairman of the fed ends up answering from i'm assuming a barrage of questions from our congress.

So i just wanted to put that on your radar and then obviously for the remainder of the week. We also have some updates of what's going on in the world of housing once again, just another thing to be attentive to um all these announcements, pretty much earlier in the morning, typically happening before noon. Now, speaking of the overall market in my past couple update videos, i've been telling you yeah in the short term. I am bullish.

I think we could be experiencing a bear market rally i'll be looking for these gap bills 39.75 for 144. But what i need to call out to you is today, because we opened with a gap, there's actually a downside gap bill to the friday high of 369.38. So as of now, we have three gaps that are unfilled: two upside gaps, one downside gap. Eventually, i strongly believe all these gaps will be filled.

An ideal situation for me would be a pump all the way up to 400, maybe even 415 layer in more of a short position there not really a short more of puts against the overall market to ride this back down. Why do i think that way? Well, because inflation's still getting worse, the federal reserve is still doing monetary tightening, basically they're still hawkish and the side effect that is a less accommodative environment for the overall market. So once again, in the short term, i'm bullish i'm looking for a bear market rally and then i think that's going to run out of steam and then i'm looking to play it back to the downside. But once again, in the very very short term, i think the technicals are too oversold and i think the market has digested the brunt of what the fed is actually going to say and that's why.

I think i'm looking for a momentary pop and with that. I just want to let you know, at least at the time that i'm filming this, i do have a long position in the world of options. I have spx calls with a strike price of 4 000 and an expiration date of july 1st, so not this friday, but next friday. And if you want to see what i'm doing with my trades, you can always check it out on locals.

That's in the description of the video, but mainly looking for these two capitals, not particularly going in the money just looking for a nice percentage return, you could generically apply this to the queues, also the russell. So, overall, that's what i see in the market, but let's pay attention to what the fed has to say to senate tomorrow morning now, with some of your favorite socks amc, i just wanted to point out that it got redirected at this trend line just below 13. So i'm ideally looking for a re-test of that tomorrow, same thing with gme, just at a different price level, rejected right at this resistance at around 140 141 and the other one i want to bring to your attention is rdbx smacked perfectly. I was looking for a close above friday's high at 12 29.

Obviously, we didn't get that a bit of a muted day, so individual equities not really doing too awful much uh the market's drifting to the upside. Most of it came in the first hour and a half of trading, so i'm excited what tomorrow brings the rest of the week brains. Ideally we'll get some nice tradable trends. In the meantime, i hope you're sitting there and really really enjoying your sheba gains, because this is just absolutely disgusting.

So, congratulations to you if you were able to either make back some of your losses, make a nice profit or, if you're, just holding back to getting in the money whatever it is. That's a nice nice gain of 32. So congratulations to you! I hope you enjoyed the video i'll catch you in the next one peace out.