Wall Street Bears Got Paid 🔥 But What's Next 🚨 Analysis and Risk Taken

All the money I've made this week has been by going short the market. However, I've got a trade setup. If we come back a little bit more, there's a stock that I really want to get into on a specific price. I'm going to share that with you today. I've got some bearish dynamics in the overall macro to cover with you guys. I'm going to go over a couple important catalysts that we're going to be dialing in on. I thought I would cover Walmart stock because they're going to be uh reporting earnings this week and there's some stuff in the charts that I really don't like. Now, I don't want to predict what Walmart will do. I'm just going to show you that the charts already leaning bearish. And so, it'll be very interesting to see if it's got a reversal in the tank and has got more room higher or whether or not it's going to lead the market south. The retail setup, it's either going to abate or stoke recession fears. So, welcome to Wall Street. This is the Stocks with Josh show. I've got a good video for you guys today. We're going to go over the SPY. We're going to go over the VIX. and we're going to go over a couple hot stocks. Hit that like and subscribe if you're trying to get 1% better on the charts to take risk on Wall Street. I promise you if you follow me, I will teach it each and every day. Now, the catalyst that I'm looking at this week is the retail earnings that I talked to you guys about yesterday. And then after that, we've got the FOMC minute notes. Wednesday, August 19th at 2 p.m. Eastern time. Again, the markets are going to be looking for clues about the future rate moves. Are we going to have a hawkish or dobbish Fed? I'm not going to even attempt to guess that. I'm going to be following this market. let price lead the way. I'll harvest the cash out of those charts either way. And then we've got the US flash manufacturing and services PMI Friday, August 21st at 8:45 a.m. Central time. Now, that will give everybody a fresh read on growth and inflation. As I mentioned in yesterday's video that Netflix looked like it wanted to pop, it ran. It went from $75.40 all the way up to $79, but then quickly faded. This one is going to be interesting. I'm going to be keeping it on watch and I'll take the breakouts. have to highlight Tesla, SpaceX, and SSPC. I've talked about them for the last couple days. They paid though, another 8K. I sold the dip this morning. I'm waiting to take a new position. Keep them on watch. Let me know what you did with Tesla, SpaceX, and SSPC. Now, let me take you guys into some charts. We'll kick it off with the SPY. All right. I showed you this range that we were in. If you're looking at the 12-h hour chart, you can see that we came back to the bottom of it. We paused, and then this morning, we gapped beneath it. We've hit or come very close to hitting the nine. We'll likely tap it tomorrow and there's a strong possibility that we will come back up and hit this channel from the downside. That's what I'm going to be watching for in the morning. But if we end up opening up beneath this yellow moving average line, which is the 30 EMA on the 12-hour chart, if we end up opening beneath it tomorrow, we could have a pretty significant flush day. We're going to be coming all the way back to this other level that I gave you, which is 753, which is the support found on this descending line right here. that would line us up with this 753. Now, if we have a strong reaction, a beautiful wick, I would expect again a move back up to 771. That's kind of what I see happening in the spy. Now, I just want to show you the VIX again. We got all the way down here to close to $14. And as expected, the market began to sell off. Whenever we get down here under 15, the market always reacts and begins to take some profit or move towards fear. 15 is a calm market and it means that Wall Street and the hedge funds need to protect their position. We've got green candles. We're heading north, which means we are heading towards fear. I want to keep an open mind going into tomorrow. I'm actually leaning a little bit optimistically or looking for potential relief from this flush down that we had. I'm not believing though that that relief will stick or the markets will hold that type of level. I think that we'll continue south, but I'm looking for some green before we head red again. All right, let's get into class. I'm going to take you into the Walmart chart. All right, we're looking at Walmart. We're looking at oneweek charts, and this is clearly a double top. Okay. And the way the double tops get confirmed is when the valley of the double top, which is right here, gets broken to the downside. You take the neckline down to the lowest candle. That gives you your measured move. You put it beneath the lowest candle, and it shows you that there is a potential for this to move all the way down to 103. Now, I want to highlight a couple important things to you guys. If we go and we look at the MACD, we see that we have recently produced a sell signal that's confirmed with the MACD line, which is blue, and the signal line, which is orange, both crossing beneath the zero line of the MACD. Now, if you're looking at this chart, you can see that these lines had lived above the zero line for a long time. Matter of fact, they lived above the zero line for years. when they crossed above this zero line for the first time was when the stock was right here at $44. And since then, the stock went up to $140. And that entire time on the weekly time frame, both lines lived above the zero line. So, we've had a major event occur here with these lines crossing beneath the zero line and printing a sell signal for the very first time since 2022. That's remarkable. Now the question is if we truly have a double top here that's confirmed a potential move down to 103 and we have the MACD printing a sell signal and we haven't hit 103 then it means that this chart has got some unresolved bearishness that it has yet to work out. This 103 line also happens to coincide with this previous top. So, we would be looking for what once had been resistance that would then become support if it did pull back to this 103 level. Now, I'm not predicting that Walmart's going to pull back to 103. But I will tell you that if Walmart has a bad earnings event, this chart is telling me where price would go. So, keep your eyes out for Walmart. If you see the price point of 110 breaking to the downside after earnings, you know that it's going to come down to at least 103. and it wouldn't be a long-term buy again until that weekly MACD line curled up and crossed above the zero line. It would mean that Walmart is suggesting that the economy is possibly moving towards a recession unless those earnings can prove otherwise. All right, I also want to highlight Riot stock. I mentioned it in yesterday's video. I entered my position today at $18.99 and I'm going to use a very tight stop-loss on this because the markets at the moment are kind of bearish. So, I'm going to continue to give the bears the benefit of the doubt until the bulls start winning again. All right, let's quickly talk about INTC. Now, I don't often cover the fundamentals of a stock. I stick to the charts because I'm a technical trader, but I will tell you this thing was up at $138. And I'm going to give you the exact price that I want to buy it and go long and it's moving towards that price point right now. Let's go check out the INTC chart. All right, we have a neckline here at 108, right? And we have the left shoulder, the head. I guarantee you I'm going to buy some INTC at around $90 if it forms that right shoulder. I'll be looking for a specific type of candle that hits 90 and wicks to give me a sense of confirmation. Let's go look at that MACD. Now, we've been trending down for a while on INTC. We specifically got a sell order right here closer to $110. And it's possible that we're going to print a buy order in the coming days. We're going to keep an eye out for that. We're going to be looking for that wick down to 90, that reversal, and potentially that long-term move up. I will tell you that INTC will have to prove itself to me. Like a lot of stocks right now, I'm looking for specific zones to buy and to take long. But I want you guys to understand that any stock that I take to the long side, I'm going to have a tight stop-loss and low tolerance for, there's money to be made here for the market that is strong and bullish, but we've been uh nervous bulls and it's been the bears who've been getting paid and all of my short positions have been profitable. You got to be careful and follow the markets and follow the charts. Thank you guys for watching the show. Thank you for hitting the like. Make sure to hit the subscribe to get the next update. Peace and blessings, my friends. I'll see you in the next video.