What's going on moon gang, i hope you're having a downright amazing day. My name is matt, and this channel is all about stocks trading and investing now that another month of trading is officially in the books. It's time for a technical update on what's going on not only in the overall market, but in this video i'll also be touching on two of our favorite stocks: apple, ticker, symbol, aapl and tesla ticker, symbol, tsla. But before we get into all that technical breakdown stuff.

Don't forget to join up with the moon gang by hitting the subscribe button, i'm getting very close to that massively important milestone of 100 000 subscribers and your help with hitting that goal would be truly appreciated. Alrighty then, let's hop into the video so on the screen. Now is the daily chart for the s p 500. For those of you who are new to the channel, the s p 500 is an etf that can basically be thought of as a basket that tracks 500 of the biggest companies in the united states, because it's tracking so many large companies and businesses throughout the us.

It can really be thought of as a great barometer for the overall stock market. As recently as february 16th, the market did hit a new all-time high and since then it has been selling off a bit now. I know there's quite a bit going on the screen. So let me briefly explain: what's going on on the bottom here we have what's known as the rsi, which stands for the relative strength index.

It's a technical indicator that happens to be one of my favorites. Basically, it has v values of zero up to 100 and it maps out bullish versus bearish momentum when it gets very high, especially over 70. It's thought to be a lot of bullish momentum and when it gets very low below 30 is thought to be a lot of bearish. Momentums day traders swing traders.

Investors like to use this indicator as a reversion tool. Basically, when it gets very high, they look for it to sell off and when it gets very low, they look for a bounce. You can really think of it as a pendulum between bearish momentum to bullish momentum. They look for it to go high swing back down.

Then come up again just back and forth bullish to bearish back to bullish. Again, these yellow lines are important price levels, technical levels of support and resistance. When i say support, all i mean is the price level that it's bounced off of before and when i say resistance, all i mean is a price level that it's been rejected before the final other thing of importance on this chart. Is these white trend lines? It's basically a perfect upward channel in the world of technical analysis.

Upper channels are referred to as bear flags and that's just because they commonly break downwards, whether it's a bear flag. The rsi, please remember nothing in the world of technical analysis, will ever ever ever have a 100 accuracy they're just another tool you could use to help you make more informed trades and investments and really help you optimize your risk to reward so anyway upward channels, even Though they're going upward, we call them bear flags and that's because they break downward. Now, let me add a quick caveat to that. So this is the overall market, the s p 500, but keep in mind one two three times before there was a breakdown and then right away.

The bull camp pushed the market back up into the upward channel. So as of now, there is an official breakdown in the overall stock market, but that doesn't mean that the boot camp can't step in as early as monday march 1st and put it right back up into this channel. But as of now, the pressure is clearly downward. Another way that i know the pressure is downward is because, as the market, the s p 500, which trades under the ticker spy has building up and up and up.

Obviously, the value has gone higher, but the rsi hasn't. So what this is telling us is that, as we've been going higher, there's actually less and less bullish momentum, i.e more and more bearish momentum. This divergence is referred to as bearish divergence and it's commonly assigned that it either needs to take a breather. So the rsi can kind of go neutral or even a brief period of a sell-off, also known as a healthy correction, just because it's basically putting the carp before the horse, it's getting a little bit over extended, i'm in no way calling for doomsday, i'm just pointing Out what i see technically of right here, we might go into a healthy period of um kind of just consolidation, so in terms of support of where the price levels i'll personally be looking for it to bounce so uh.

What was this? On february 23rd? I didn't like this breakdown myself. I actually bought some s, p, 500 puts and then right away. I had to cut it for a loss as soon as the next day we got back up into this channel. I was kicking myself.

I was like all right. Obviously i saw this happen three times before. I should have known better, but right after that, if i held on to it, there was a selloff. I had a tough time staying in the channel and for the past two days now, on february 25th and february 26th, there has been selling pressure.

So the next technical support i see is at 376, which is exactly where we saw it bounce in mid january. It was also a site of rejection in late december, so it's clearly an important right here. Rejection support so basically 376 to 373 is the next region of support i'll be looking for a bounce there. However, if the bear camp pushes the overall market below that, i would say there might be a chance of it coming down to 368, which is where we saw the market catch itself on january 29th.

There was support in early january and it was also an area of consolidation. So basically, the upcoming region of support is from 374 to 376., below that we have 368. if the market bounces off of either of those levels or if we pull an early u-turn. I'm calling out resistance at 385, it's where we were rejected today.

It was support on february 24th. It was also a region of resistance back in late january from there. If there's a lot of bullish strength, i would be then looking at the all-time high of 394 and past that, of course, we have the key psychological level of 400.. These are the price levels i'll personally be watching, but just so you know in the short term um for the first week of march march.

It does look like the pressure is downward. So that's what's going on in the overall market. Now, let's talk about the premier technology company of the 21st century apple ticker, symbol, aapl: this company is obviously a huge company very, very important to the us economy. It's no surprise that the chart looks pretty similar to the s p 500.

After hitting its all-time high. On january 25th, at 145 dollars per share it broke down. It tried to battle it out at this bottom trend line this bottom blue trend line here and since then it's been selling, but it does look right now at the low 120s. We are at support.

It bounced here in mid-december. It was a region of resistance in mid-november um. It was resistance in mid-september. Basically, 120 is a pretty important price level, so i'm i'm expecting it to act as support.

Once again, and on top of that, it looks like we have an extreme amount of bearish momentum according to the rsi, so keep in mind people think of it as a pendulum. Once you have a lot of bearish momentum, they look for it to come back so because of that it looks like things might be a bit oversold. So i wouldn't be surprised if people try to bet buy some apple right here, but if the bears do win this fight and push it down even more personally, i would love to buy even more shares of apple at 112.. This is a very important price level.

Tons of support resistance, just very, very important by the time we get there, especially if it happens quickly, the rsi will be even more oversold, which would be a better sign of the bull camp, stepping back in once it does bounce. I will then be looking for resistance. Basically, at 126. there was resistance here previously most uh.

When was this early january, we saw it acting as support so on the way back up i'll, be looking at 126 and then after 126. I will be watching right here. In the low 130s once again, resistance support, basically just a very important price level. So these are the levels i'll be watching in the first week of march for apple and now, let's switch it up to tesla.

Tesla has been on a crazy run. Tesla's been all over the news. Basically, in mid-november it was announced that tesla would be put into the s p 500, which is what we first saw the thing that's tracking 500 of the biggest companies in the us. Ever since that announcement, it's been absolutely running, uh.

The day of the announcement that was at 407, it quickly shot up to 80 d4 that made an all-time high on january 25th at 900. Since then, it has been selling off um. I thought things looked a bit bearish, not only when we saw what was going on in the overall market, but it had a technical breakdown of this trend line. Let me zoom in a bit just so we can see it after this uh breakdown.

It actually had two days and it came down as low as 620.. It was on this day february 23rd, that it hit 6 20, and then there was a gigantic rally. It was the same day that kathy wood at arkhamvest was saying that they were buying quote unquote a lot of tesla, so we saw that strong bounce up, but then it was rejected at 750, which is where we also saw a rejection on january 4th and since Then it's been selling off the fact that it could not hold this 695 to 700 level, which was resistance back in mid december um once again, what we're seeing in the s, p, 500, apple and tesla in the short term, there is downward pressure. So i'm not calling for doomsday, i'm calling for hey look out for some nice discount shopping.

Basically, what i'm looking for is for tesla to return to this 600 to 615 area, which was where it recently bounced as uh as recent as february 23rd. We also saw resistance in late november, we saw a bunch of consolidation in mid-december, important, important price level and by the time we get there, the rsi will clearly be oversold. So i would love to do some discount shopping on tesla in this region. Pretty much the same scenario for apple around 120 to 112 and then the same thing with the s p, 500, but that would be closer to 373 to 376, potentially 368..

So right now, first couple days, i'm looking for a little bit more of a selloff and i'm going to be trying to buy some of these companies. I am a long-term investor in apple and tesla, i'm looking for a little bit of bearish momentum in the short term just to buy these stocks on a bigger, bigger discount. Thank you for tuning in to this. If you want to stay up to date with all the stock market content and be a member of the moon gang, all you have to do is hit that subscribe.

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