BUY THIS DIP?! Big Tech Earnings are HERE!

All right, I think it's time for a market update. This should be a quick one, but I do want to talk about some of the trades that I like right now. I think this pullback is giving us some opportunity and this is coming out intraday. There is FOMC today. The expectation is that rates will not change. And with the market in a pullback right now, I think a great question to consider is should we be buying this dip or was that a market top and we're going a lot lower. And I think as far as getting in a more regular update schedule, I think I'll try to do just a video or two a week for the summer. And then I think when we get into the fall, I'll do more regular updates. So that's just an idea or a guideline of what to expect from me. And that's just for YouTube. If you're in any of my services, it'll be business as usual. All right. Before we get into the charts, I want to look at Luke 12 13-21. Someone in the crowd said to him, "Teacher, tell my brother to divide the inheritance with me." Jesus replied, "Man, who appointed me a judge or an arbiter between you?" Then he said to them, "Watch out. Be on guard against all kinds of greed. Life does not consist in an abundance of possessions." And he told them this parable. The ground of a certain rich man yielded an abundant harvest. He thought to himself, "What shall I do? I have no place to store my crops." Then he said, "This is what I'll do. I will tear down my barns and build bigger ones, and there I will store my surplus grain, and I'll say to myself, you have plenty of grain laid up for many years. Take life easy. Eat, drink, and be merry." But God said to him, "You fool, this very night your life will be demanded from you. Then who will get what you have prepared for yourself? This is how it will be with whoever stores up things for themselves but is not rich toward God." So this is the parable of the rich fool who thought all he had to do was store up enough possessions and then he would be able to relax and be happy. But that very day in that very night is the day he lost his life. And this parable is important to understand because this is relevant to what we are doing with stocks. we are trading and we are investing and some of us fall into this trap that we're not going to be happy and we're not going to be able to really enjoy life until we reach this goal that we have of how much money we're trying to accumulate. And the sad truth of that is is that a lot of people live their whole life trying to save up money and trying to reach a certain point and then by the time they get to that point they realize one they're either still not happy even though they have the money that they thought would make them happy or worse they get all of that money and they can't even enjoy it because their life is taken from them. So this parable is very important to understand because you don't want to fall into the trap that think money is happiness and at some point in this game you are going to make a lot of money with the right investment or you're just going to master trading and that is not going to bring you joy. That is not going to bring you happiness and that is not going to bring you purpose. What Jesus is trying to teach here is that real treasure is in heaven and real purpose comes from God and that is the purpose in your life that Jesus wants you to be paying attention to. It's not saying that trading or investing or making money is bad. These are all good things when done properly because it's always about where your heart is. And your heart should not be focused on just becoming greedy and wealthy. Your heart should be focused on finding true purpose in your life with true joy that comes from God and then using your gifts to serve others. And that is when you will truly feel purpose in life. And then you will be truly rich without your possessions. You will be rich because you have joy, purpose, and meaning. And that is something I want you all to think about today is don't just focus on some dollar amount. Think about what you really want to do and enjoy in your life. And all of this is going to come naturally with the proper discipline and patience. We are all going to do very well in the market. It just takes time and discipline like most things worth doing. Okay, so today I want to start with the triple Q's. The triple Q's did the more bearish outcome that I was talking about below 706. I was looking at these two all-time high gaps to fill which were right around 682 and 676. And we did break down below 706. We came back up and retested that as resistance. And now, as you can see, we came down and filled those gaps. So, the real thing I want to pay attention to going into FOMC is the likelihood that we now go up and fill this gap right around 703. So, I do think there's a buy the dip opportunity here. And that could take us all the way up to about 693 up to about 703. And then once we get there, I want to see if we get a rejection from that resistance at 706 again. Because if we do, we're likely going down to the 630s and 640s. But if we don't, we could easily push all the way back up towards 720. And then at 720, we have a very big test of the downtrending resistance trend line. And if we get out above that, I think we push back to the previous all-time high. So in the very short term, I think a bounce is in order. I think that bounce will likely take us to 693 and then above that we go to 703. And then from there, I want to watch that resistance right around 706. And I want to see if we either reject it. And if we reject it, I want to be cautious and I want to be looking to get a lot more risk off to buy at lower prices. But if we break through it, this could have just been a correction before we go back to retest that previous all-time high. So pay attention to this. I think this is going to be a very critical couple of weeks coming up. This balance is what I'm watching for. And I would manage my risk right around the low of the day, which is the pref. So as of watching this video, that could change, which is right around 663. If we don't break down below 663, watch for that push higher towards 693 and then 703. It's still a riskoff market below 706. So that still means we could be trending lower. However, if we get back above 706, then I'll be looking to get a lot more bullish. So then let's look at SPY. SPY is doing a lot better because a lot of the selling has been in the semiconductor stocks which are heavily weighted in the triple Q's and the NASDAQ 100. However, we have financials and healthc care sectors moving to new all-time highs. So SPY has been holding up very well in this trading range. So as you can see we are watching this wedge but really spy is still holding above this support right around 733 and above that support I do think you can simply just stay bullish. If we break below 733 yes we could come all the way back down towards 718 and then 709. But while we are above 733 I think it's okay to stay bullish in SPY and still look for the opportunity to push higher towards that brand new all-time high at 775. So, if we hold this support, I will not be surprised if we continue this bull run, break out of the wedge to the upside, and continue higher towards a brand new all-time high. All right, let's look at Microsoft. It has earnings after the bell today. So, if you don't want to risk a 50/50 coin flip, I always say after earnings, even if the earnings are good, you can go down. Or even if the earnings are bad, you can go up. So, I call it a 50/50 coin flip. Half of you can say Microsoft is going to go up after earnings, and you'll be right. And half of you could say it's going to go down, and you could be right. So, it's really there's nothing in an earnings report trade that I would consider a skill. But if you're already in Microsoft for a longerterm trade like I am, we are looking for Microsoft to push higher towards 458 and then 478. And I do think earnings could be the catalyst for that. But as far as a trade goes, I'm still managing risk between this previous higher low at 374 and then the breakout at 393. But if you bought down here at 350, there's really nothing to do but simply just continue to hold this trade for the longer term, which I told you I thought Microsoft was going higher towards 500. So I'm personally taking it for the longer term. So earnings for me is just another day. However, in the short term, you will want to watch risk at 393 and 374. All right. Now, this is my favorite trade currently. This is Micron stock. I think this stock is still the market leader for the year. And obviously with it being in a downtrend in a pullback or a correction right now that has dragged the market down with it. And that is exactly what we saw with Nvidia stock. When Nvidia is going up, the triple Q's were going up. And when Nvidia was going down, the triple Q's were going down. And right now, Micron is moving the triple Q's lower as it is moving lower. But it did fill the gap at 780. So I'm personally buying Micron here right around this gap fill zone. I think in the very short term, let's say you just want to get in and get out. You're looking for anywhere in this zone to get a bounce up to this gap fill, which is right around 854. But really longer term, I want to take this trade all the way up to this gap fill, which is above 1124. So, I'm in this trade longer term, now that it hit my lower term price target, I'm going to continue to buy it and accumulate it. You make your own trade plan. I'm just sharing with you what I'm doing here. And then I want to hold this trade until it gets back above a,000 and then I'll start taking my profits. But I still think this trade is going to continue to push higher. I think a lot of the fear is not warranted. Obviously, this is just my opinion. I could be totally wrong. I think we saw the same thing with Nvidia selling off last year with the DeepSeek news and then it all blew away and nobody ever talked about it again. I think we're having something very similar here in Micron. So, I am using this as a buying opportunity. So, that's what I'm watching right now. I still like Micron and Microsoft. I'm taking these trades for the longer term. This isn't really short-term trades for me. However, I think there is opportunity for some short-term gain if you just want to get in and get out. So, that's what I'm watching right now. Good luck to all of you. God bless all of you and I will see you in the next episode.