300 PM here in Colorado. Good evening and welcome. Uh what we're going to do to start out is just take a look at these markets a little bit. Um I know there's a lot of FOMO out there. Um and then we're going to get to your questions most important and those questions have been sent into alphrengmail.com and that's where I have them. So I will be able have them all in one place so we can keep our flow going here. So let's talk about this market. Vbottoms aren't supposed to happen but they do. I did not expect the market to make a Vbottom, but the market doesn't care what I want. So, we have to look at it and say, you know, and I kind of regret actually back in here that somebody asked me, hey, we're above the 5day moving average. Should we trust it? And we shouldn't have trusted it yet. But the bottom line is when once we got back above that an anchor off of this gap right here I'm the fiveday rather here and then we retested again that's when we made the higher high above the flat to rising 5day moving average. I have been cautiously bullish since then. I've been saying over and over again look we have potential supply at these different levels. And that's the that's the key. That's the that's what I want you to remember is I always use the word potential. I wrote that in my book. always put use the word potential. Put that into your vocabulary because there was no resistance at any of these levels here. Even this level that was you know prior support that had become resistance and the anchor from the all-time high which previously was just you know the market got knocked back hard from there that I kind of had a pretty strong feeling that it was going to be supply. But guess what? The market doesn't care what again the market doesn't care what I'm thinking or want. So it didn't happen and here we are higher. So we have to balance the multiple time frame. Look at this. Meaning that I was saying I don't trust it because it has a declining 50 and 200 day moving average. Well, now we're above a 50 and we're the 50 is rising and so is the 200 day moving average. So when I look at the daily chart, I look at it and say I may not trust it, but the evidence on the shorter term time frame is saying higher highs and higher lows above a rising 5day moving average. So how do I ch how do I, you know, make sense of that? The way I do it is I look at it and say I'm not going to trust the rally, but we have a rally. I can't ignore a rally, so I'm going to trade it with smaller share size. Initially, I was saying, you know, I don't trust it at all. we could get another, you know, this is when we had and you have to go back and remember how you felt on these days with these gaps, each of these days with these gaps. We were just getting knocked around back and forth. So, I was slow to trust it. And the, you know, one of the things that I, you know, always tell people that I try to do at Alpha Trends is number one, I want to help you make money, of course. Number two, I want to help you avoid losing money. I did a great job of that on the downtrend on this rally. I hope you made some money, but even, you know, a lot of people are still trying to break even. Number three, to educate you and number four, to create a positive environment. Hopefully, you know, I'm doing that. I could have done a better job of guiding you into these longs uh with bigger share size, but I don't regret it because again, to me, risk management isn't just a cute little phrase to say so that people take me seriously. It's something that I do. It's the reason I've been in this business and still trade nearly every single day. Sometimes I, you know, my wife will ask me, "Oh, did you trade today?" I'm like, "No." Like, "Well, you know, I had like three trades. I don't know, three different stocks, but I it didn't really feel like I was trading. So, you know, I'm still in there every day, you know, fighting just the way you are. And fortunately, have a couple of good winners in this market. But here's where we are right now. We're still extended in this market. But you know what? Just as there was no such thing as down too much, there's no such thing as up too much. It doesn't mean throw caution to the window. Do you wanna, you know, cha, you know, give into that FOMO and and just get long everything up in here? Friday, I would have told you I did tell you here's what I thought was most likely. I thought we were going to start to pull back a little bit, get trapped below the 5day moving average. That's what I thought would happen. The market doesn't care what I think. So, I wasn't short. I was thinking maybe we can get short, or maybe we would pull back down into this zone, find support, and then continue to rally. That's what I really wanted to see happen was to create that right shoulder that we spoke about. It didn't happen. So, we've got to pivot. We've got to listen to the message of the market. The market gapped up on Monday, held below that VWAP for a little bit. Buyers took back control and now that week-to- date anchor is still, I think, the key level for us to hold. And even if it gets below there, would I short it? maybe for an intraday uh scalp type trade, but you know, expecting it just to be a day trade because we've got a rising fiveday moving average. So, what would cause me to get bearish? Well, if we start to do this and we get stuck below a 5day moving average, then I think, okay, now maybe we're ready to pull back and test the 200. That would become a level of interest. Then the anchor from there, and then maybe we come all the way down to this 550 level where the 20 and the 50-day moving average are. There is zero evidence of that. But what I'm trying to, you know, show you is that you've always got to be thinking about what potentially comes next. When you miss a move, you miss a move. So, you wait for the next one. Or you say, "Hey, I'm going to switch to shorter term time frames." And if you did that today in the spy, you just got, you know, chopped up. This is what my friend Sean uh calls, you know, barcoding in here. just back and forth choppy mess above a one and two day VWAP all day long providing zero edge at all for an index trade. Doesn't mean there aren't stock opportunities out there. And the NASDAQ did did better, but you know, was there much trend in here? Uh, not really. We were still pretty choppy in there, but this tells us there's still biders in this market. And what I think is happening is that, you know, we're extended here. It's up too much and all that stuff. I think it's likely that we kind of um you know and this again this is a scenario that we kind of you know do something like this come down quick rally back up in other words we trap some short sellers in here who think they're picking the top of this move and then you know and you know sometime next week maybe it rolls over a little bit then we get a deeper pullback it could just completely fall apart tomorrow I don't think that's the case I think that there's still a bit in here and that there's going to be the early shorts will be getting chopped up. The Russell 2000 is the biggest uh you know reason for uh that that's holding you know a lot of equities back and that's simply due to you know everyone all year they've been saying it well the Fed's going to lower interest rates and lower interest rates should be good for small tech caps on buying the Russell 2000. Well interest rates are going up people and that's why the Russell 2000 is going you is underperforming. It's not going down, but I could see it doing, you know, it's trapped below the weektoday volume weighted average price. Maybe it comes down towards that 5day moving average and does something like this and then comes back. You know, may I'd love to see it come back under 200, find buyers at the 20 and 50-day moving average conjunction. Then maybe this market can create a head inverted head and shoulders pattern and and then go higher. But again, you're going to have to think that, well, what's the likelihood that we're going to find buyers in the TLT in here? Let's look at the weekly time frame. This has been a big zone, but that zone flows down to 83. So, we could still be, you know, a lot of times what we do is we undercut a prior low. Maybe it's this one or it's this one and then we reverse. But there's no signs of it right now. We're below a 20, 31, and 42- week moving average. That's not a bull market in in in in the bonds. They're in a bearish environment here. So, be aware of that. financial I mean sorry biotech stocks man if these things don't get up quick they could they could really get hit hard um I I just don't have any interest in buying these names we need to see them you know if they're you know to get back to neutral 78 now that's what I said about Tesla over here was if it gets last week when we were below the declining 5day moving average I said we need to get back above here to become neutral and then the stock rocketed higher so maybe I don't think it's likely but Maybe that's what the biotechs can do is get back to neutral and then rock it higher up towards this 85 84 85 level. I thought they were going to rally made a little bit of money on them long on Monday, but you know the market, you got to listen to the market. You can't look at and say, "Hey, I got to be a contrarian because it's sell the rumor buy the news." You have to look at and say, "Here's what the market is saying." So anyways, enough about that for now. Let's get to what's uh really the point of these webinars, which is to answer your educational questions. So, Diego says, and I a couple things. One, I appreciate that people are, you know, sending one question per email, uh but please try to keep them as concise as possible. Diego says, "When back testing the higher high setup on the SPY using rising 20 and 50-day moving average on the daily chart and rising 5day moving average on a 30, I found a lot of the best setups and biggest moves came overnight during gap ups. And if I was to buy on the market open, I was miss out on some of the riskreward if I'd gotten in and bought had I bought earlier. Do you personally do recommend any pre-market trading?" I have been more than I like to. I don't prefer to trade in the pre-market. Um, but you know, we with all these gaps, there's opportunity in there. And if you feel like you're missing out in a big move, then you know, maybe it makes sense to sit down and and do that. Uh, I know that certain brokers like Interactive allow conditional orders during the overnight session, but I know there would likely be a lot of sl slippage could make it no longer viable. I agree that the overnight is uh going to be very uh illquid but I I would say that if you have the the time, the patience, the energy, the interest, then you know sit down an hour really probably, you know, I often sit down about an hour before the market opens. And I'm surprised that I I kind of feel like you have to be there an hour and a half early uh you know prior to the market uh open um to really catch some of these moves sometimes and I haven't convinced myself that I want to do that yet. Um so it's again how much time do you have? How much do you want to uh you know how much energy do you want to put into it? Where do you do you have a day job? What are your priorities basically? So, uh, thank you for the question. Diego Brigesh says, "When you mention it's a day trade environment, do you just look the session VWAP in the last couple of, uh, of last couple of day VWAPs?" Um, yes. But if if we have a very volatile overnight session, then at least in the, you know, at least in the um, what am I trying to do here? I'm sorry. I've got to change it over here. So, let's look at a 15-minute time frame. So, you know, I'll look at it, you know, the the pre-market if I think that uh we're in that day trade environment. I mean, if you recall when the market was super volatile, there was a Sunday night. We had a gap. I don't remember what it was. Um, but it was super active. I mean, the the ES was trading 10 points in a minute. So, I went down to a 15-second time frame and I was scalping those. And I probably should have never even mentioned I used a 15 minute second time frame. That's the first time I'd ever done so. But you've got to look at, you know, what environment we're in. Here's a chart uh that where is it? So, this is a chart of the XBI and this is the percent ATR on a 65 minute time frame. So what this is showing is it's the average and here what I did this is a 5-day moving average basically of volatility on a 65minute bar. At our peak we had a 3% average true percent range on a 30 minute time frame. That is nuts. In the XBI in the Dow we were up to two and a half%. The the the semis they were where were they? Their average true range was 4%. So when you have these higher periods of volatility, you've got to switch down to shorter term time frames. That's all there is to it. And you've got to be looking at things like you said, like the multipleday volume weighted average price levels. So the way I typically look at it is, you know, so Monday on the uh SMH, we gapped up, little shake out right here, got back above VWAB, closed pretty good. We gapped up the next day. we're holding, you know, we're holding the the Monday VWAP, the Tuesday VWAP, these things are strong. So, when they're this strong, what I think is when we've got them stacked like that is if we start to roll over, we'll probably do this and then because it's so strong, we probably come up to there. And if we push through that VWAP, then we've got a real strong market. If we, you know, then look at this, then I look at and say, "Okay, maybe the light's turning a little bit yellow in here." But don't forget, we're still above the 4day, the fiveday, uh the anchor from the uh Fed right here. So, it's all about little pieces of information at a time. And how close to the screen do you want to be looking? Again, most people, myself, I should probably have never been looking at a 15-second chart. It worked. I made some money, and that's great, but it's not always going to be that way. William has a long question here. So, again, please short questions. I was hoping you could provide some clarification regarding anchor VWAP entries on shorter term time frames. In a basic generalized sense, when trading session starts, you sent your anchor to the first minute bar. Correct. How do you know whether you should go long when the price gets it back above the VWAP from the start of session or wait to see a brief pierce? Uh so and he showed me a chart that you know and it looks like you know if this is a one minute chart I think that so you know so here his chart looks like this uh and this was the VWAP and the VWAP did this and then this so this is a one minute bar this is a one minute bar this is a one minute bar then it did this so he's asking do you get involved here and in this case you know it continued to do this and fortunately has an arrow right there which indicated where you know where to get out. If you took that trade, you get out there. Now, this was about 5 minutes into the day. Generally, you know, unless we have a runaway market, I'm not willing to do to to get involved right away. His chart continues to look like this and then shows uh, you know, getting back above VWAP there and then doing this. So, this would be a better entry with a stop there because it had a chance to flush out assuming we were in a big market. But, he's showing a stock that's gapping lower. So the the point is and I guess he was using that green. Uh so the other arrow was actually not his stop, but would that be a short entry? And again, you know, in the first 5 minutes, you're going to see a lot more volatility. In the first 10 minutes, you're going to see less volatility. So it's tough. And and that's the the the tough nature of day trading. And even the tough nature of, you know, especially when gaps occur. I think in in normal, you know, it when you have a large gap like the one he just showed me there. When you have a, you know, a small gap, you know, it's like this, and it gaps up a little bit, it consolidates a little like this, gets back above the daily VWAP. Usually 10, 15 minutes into the day. I love that trade. That's one of my favorite trades is to buy there with a stop under there. the percentages are really strong on those for day trade entries. But, you know, when I say day trade entries, that could mean day trade entry right here. But if you listen to the message of the stock and it doesn't stop you out, then you decide, hey, I want to transition to a longer term because I think maybe it's going to head higher. Now, I didn't do that with the semiconductors because I thought, hey, they're at the 200 day moving average. It's already come up a lot. So, you know, sometimes my own knowledge hurts me in terms of limiting my profitability, but I didn't have the benefit of the hindsight at that point either. So, you know, it might have had some bad news, China something, I don't know, and gapped down into into that 200 day moving average. I wasn't willing to uh accept the risk that it would, you know, that would hold up. So, I missed that trade. Then you've got to decide the next day, do I get involved? And you know, then you've got to say, well, what is my time frame? What am I doing here? What is, you know, when am I looking too close to the action? So far, these questions seem to me to indicate that people are, you know, looking at day trades. And there, you know, if you want to be a day trader, that's that's great uh day trade, but it it's, you know, just trust me. The statistics have shown me that most people do not succeed as day traders. And I would go so far as to say 99% or higher fail after any given period of time. Um that they will not be day trading within two years, three years. 99% of the people who try it. And and I don't say that to discourage you. I say that as a wakeup call to say if you're going to be a day trader, know the rules. Know the know when to engage and know when you're going to get out. And realize, you know, regardless of what your time frame is, you're always going to miss some move. you're always going to miss some. When this market gapped up here, I didn't chase it and, you know, I owned some and made a a decent trade in it. I was okay with that money. That didn't bother me. I It It really truly doesn't bother me. Why? Because I know the way that markets work is you miss one trade, don't worry about it. There'll be another one coming soon. It can be frustrating when the market rallies like this, but look at, you know, since we gapped above that five-day moving average, we've had a rising the direction of the five-day moving average on this gap lower. The direction of the 5-day moving average on this pierce and this pierce told us innocent till proven guilty on this time frame. This is the time frame that pays us. This time frame is the one that guides us. So, what is your priority? What is your um you know where are you willing to take risks? How much how much of the hindsight and and here this kind of flows into the next question which is hey Brian I missed out on the whole market turnaround because I didn't trust it. The more it goes up the less I trust it. What's a good way to handle the FOMO and find a lowrisk entry from your experience? My experience Jan is you know the same the same. I I missed a lot of this because I did not I I I I did well in it, but I didn't do great. Uh nothing to write home about. I I'm more proud of the way I handled the down move and avoiding losses and making some money in there and making some money on the way up puts me comfortably ahead of the market, but not superstar, you know, trading status for me this year in this volatility. And you know that's something I need to examine as well. Am I being too cautious maybe? But you know it's good to question you know am I doing something wrong here or is it is it just hey this was an unexpected move and if I went back and I had the same information where everything Trump said could do this or do this do this or do this. It felt like a coin toss in there. So I'm 57 years old. A 22y old don't put your entire account to some call options. And you know I I did that one at that age. It's not going to work long term. But you know you've got to figure out how to how to trade your own way. There's no perfect way. There's no perfect risk management for everyone. The 22-year-old with his f first $500 Robin Hood account. you know, maybe you get lucky and run it up to $2,600 real quick, but don't be surprised when it's down to 300 and then, you know, that becomes a a moment where you decide, hey, is this for me or not? And hopefully you decide, yes, it is, but I just need to, you know, get involved with some rules. So Jan, back to your question is the good way to handle it is to say the long-term guides me, but the short-term pays me, so I need to get paid, but the long-term guidance says be careful, so I'm going to trade with less share size. And realize that if this market runs away from me, I'm still going to make some money. Not as much as everyone on Twitter claims to make, but you're still going to make some money and you're going to do it with less risk because if this market had instead done something like this, would you have been, you know, continuing to hold as it breaks down and losing all your money the way a lot of people would have who, you know, thought they were buying the the lows and and, you know, in hindsight they did. Hopefully hopefully they're holding on to those gains. I'm never cheering against anyone, but I'm I'm looking at people and shaking my head often saying that's some crazy risk there. You know, they seem to act like they know what they're talking about. People say that is the bottom. Well, they said that right here. That is the bottom. They said that here. Then they said it again and then they were right. So, this is the one they claim they made all their money on. It's, you know, so a lot of that FOMO comes from, you know, from Twitter, from other listening to other people who are basically full of Um, and some people do great in this environment. And and I really, you know, I'm not going to say they don't exist because there there's always the exception. And and I truly hope that you're the exception. Uh not just the person who answered that question, but you plural generally everyone. Um, Floren says, "Can you explain how anchored VWAP can effectively be used to identify sort support and resistance levels? It what makes it more reliable than traditional horizontal levels?" Well, that is the subject of not a short answer on a webinar here, but instead, you know, I got into the psychology of that in the anchored VWAP book. I'm not going to tell you you have to read that book, but I will say that, you know, for a deep understanding more than what I'm about to tell you here, um, you should read that. Um, how can it effectively be used to show support and resistance? Well, let's look at the anchor from the beginning of the week. We anchor from that because that's a gap and that's important. And we say, do the buyers we, you know, when it pulls back there, are the buyers in fact defending this level here? And if so, then I want to buy strength away from it with a stop under there. And you don't know that it's support until it's already gone past it. So, it's a level of interest just like a, you know, just like asking me, can you show me how the 200 day moving average acts as resistance? And I can point here and say, boom. See how it hit it right there? that was resistance. Well, is that really useful when we saw all these tests of support and then the next time we went up to it, we blasted right through it. So, just because the odds are there doesn't mean it's not going to go. as I you know like to say about seasonality and you know days of the week people say or you know um you know the options expiration day eight out of 10 times it does this unless it's a full moon and there's a lunar eclipse then it does this two out of the four times it's ever happened. Um but the point is these those are like back back of the basic uh baseball card statistics. It doesn't tell you what that batter is going to do this time up. It says historically 28 out of 100 times this person has hit the ball with the bat. So, is this the one that the one that that is is this one of those 28 or is it one of the 72? More than likely it's one of the 72. So when I look at this and say, hey, back of the baseball card statistics, say 40% of the time it acts or 60% of the time the first touch acts as supply. Well, 60% is pretty good. So do I want to short it? No, because we're above the daily VWAP and we're showing that this holds as support. So hopefully Florinat answered the question for you. But again, you know, without having specific examples uh that come to mind, it's it's tough to, you know, answer that question completely. Um Moses says, "As a beginning swing trader read your anchored VWAP book, what daily work habits or routine should I implement when I start my trading day?" Great question. Specifically, after I open my computer and charting software with my watch list where I've already placed anchored VWAPs, what practical steps or processes should I follow to properly analyze an analyze opportunities and make effective decisions? Um, there are a number of things that you should be doing. One, first thing when you wake up in the morning, I suggest you go to your computer, turn it on, and open your trading view, your thinker swim, your TC2000, your interactive broker, whatever you use. What I've noticed is that people will often complain that, hey, this brokerage is down, but what time do you log in? And they log in 2 minutes before the market opens. Nothing wrong with, you know, sitting down two minutes before the market opens if that's your strategy. It's not mine, but uh and not what I would suggest, but establish that connection before other people do. It seems to make a difference. I don't know if there's anything scientific or evidential to it. That's my anecdotal evidence is that that's what I do is I I just walk over to my desk, turn it on, I go downstairs, feed the dog, have my coffee, do my stuff that I do, and then I come back, all my machines are on, everything's in place. When I'm ready to sit down, it's all there. It's live. It's working. So, that's number one. Just turn your stuff on early. Um, number two, you you look at your watch list and you turn the pre So, I do this every day. Okay, I turned the pre-market on because I want to know where you know what happened. Did something crazy happen in uh you know what was that one from yesterday? Uh gra did something crazy happen in the pre and post and what I want to do is always show the last two. So you know yesterday we you know that so it doesn't so it's showing so that's one problem with TC2000 just shows today and this morning. of the last two sessions. It doesn't show the overnight session whereas Trading View does. So anyways, you want to look at and say, is anything crazy going on with my stocks? If so, do I go into damage control mode? What am I doing here? Um or do do I say so for instance uh on today's list, I was looking at um what was that stock that gapped down? Um, well, there was one two days ago that uh, oh I'm trying. My memor is failing me here. I, man, I look at so damn many stocks. Um, let me see if I can see here quickly. Was it um, was it that one? No. Anyways, I I I don't want to waste time here, but the point is, you know, you want to look at and say, "Hey, is is something going on?" Uh, so Donnie says AUR, which AUR wasn't one because we had gotten stopped out fortunately right here. But if you, you know, were holding AUR, same thing. You'd look at and say, is something crazy going on with something I own? This is why we trade with stops. That's, you know, this is something that I had suggested as a long for Alpha Trend subscriber. Halo, that was actually the one that I was thinking of. Thank you, uh, Lewis. And now I've actually forgotten my point. So, you know, is something go crazy going on with one of my stocks? Um, and this was one we didn't get involved in. So, if this is on your watch list and you see it gapping down, well, well, there's no point looking at it because we I was looking at this stock thinking, hey, it's holding the 5day moving average. If it can get above here with a stop under there, it has a chance to be able to continue. Instead, I turn my computer on. I see there's, you know, something going on in halo and it's way down here. Well, this was going to be my stop. It's already below that. I want nothing to do with this stock. So, I just remove it from my watch list. So trim your watch list on stocks that are not behaving well that you're not involved in yet after. So you know first of course you look at your open positions and say is there anything wacky going on with these and had you held for instance grail into earnings. you would have looked at it this morning, go, "Oh my god, what did I get? What did I do?" And then you have to go into damage control mode. Set your stop under the first five minute low of the day. And maybe maybe you got stopped out uh you know, up in there or something. But so then once you realize there's no problems with the stocks you own, that there's you know, and then you know, maybe you want to look at your symbols and say, "Is there any news on these?" just out of curiosity. Is there anything that looks like it's going to get other people in interested? Or if you look at a stock and say, "Okay, this is on my watch list for tomorrow. I'm going to be looking at take two. I want to see it pull back and then get going." So, let's say instead of looking for a pullback first thing tomorrow morning, I'm just going to turn this off because it's frustrating. Um, and then I hit always, that's why. Um, so this is what I'm looking for tomorrow. Let's say instead the stock looked like this and I thought and it looked like this and we were right here. So we're right here at 231 and I think that if it breaks 23220 then I want to buy the stock with a stop under here. Let's say that's my plan because it's it's been hammering away and that's the higher low. So what I'll do is I'll say okay what is that level? It's 23220. So, do I want to set an alert at 23220? No. Because by the time my alert goes off and I click on my symbol and I go over there, it might be 233. So, I want to set my alert at 232. So, I, you know, so as it rallies up to 232, I say, okay, it's getting into the zone. Did we just, you know, did we gap lower and then we're coming back up here? If so, it's probably extended too much energy. It changes the riskreward. So, it's your time to say, "Okay, does this trade the way I saw it last night still kind of exist here?" If it does, great. I'm going to keep a close eye on this. What I'm going to do then is go over to my Thinker Swim. I'm going to put TTWO. I probably already have there in my level two box. And I'd start watching the level two. And I'm not trying to say who's the axe, who's bidding, who's who's offering. I never look at that. I I couldn't even tell you the names in there anymore. I don't I just don't look at it. Instead, what I'm looking at is I'm looking at the time in sales and I'm looking at the chart and the time in sales and I'll probably so if the 232 gets hit, I'll probably switch to a fivem minute time frame. If it's in the first couple minutes of the day, I'll probably be looking at a one or two minute chart, something like this. So, as it, you know, gets to that point, then I want to say, okay, I'm watching it carefully. And then I might see like, well, the tape is real slow. It's got, you know, I'll look at things like what's the bid ask? Maybe it's 228 and a half by 220 uh 228 and a half by 22920. Well, that's a 70 cent spread. So, I've got to be thinking about how I want to execute this trade. Do I want to take an offer and be down 70 cents right away? or do I want to be, you know, thinking, okay, maybe I'll set up two level two screens so that I can have different options so I can, you know, bid very quickly at different prices and cancel other ones if I start to get into a bidding war or do I decide, hey, looks like this thing is taking off. I got to go my stop, you know, I'm going to use the low of the morning as my stop. If that's my stop, do I feel comfortable buying it here? Yes, most likely. So, uh, you know, I look at that and then I start to say, "Okay, now I'm in the trade." That's when we have the most uncertainty. Anyone has the most uncertainty. The when when we have zero price feedback on our trade, we just entered it. We have all the uncertainty in the world. So, we look at it and say, you know, start to doubt it. Oh, wait. The S&P is doing the S&P just ticked down 10 cents. Oh my god, what should I do with take two? This is awful. uh or you know you know you can you can convince your mind of things. That's why I don't watch television. I don't want to hear what what some reporters are saying about the news. I want to listen to price action. So I look at price action. I say wait the S&P is selling off a little bit. Maybe that tells me be aware. Hey, we broke below the week today and it looks like it's still selling off on the cues. you know, do I wanna maybe, you know, if if it if it breaks higher, runs up a little bit and comes back in, breaks the VWAP, well, then maybe I'll sell half of my stock here just because, you know, was that a failed move higher? I can always get back in because I'm sitting here and, you know, honor my stop on the on the second half. So, it's it's more about, you know, looking at being ready to anticipate what can happen. It's not about hey the stock hit my alert at 2 what did I say 230 229 you know uh 220 23020 or whatever it is I it doesn't matter um we don't want to set the alert there instead we want to say okay it's getting close to the alert and we had supply there yesterday maybe if we get through that supply it can continue because we're making a higher high above the 5day moving average and on the daily time frame we're above the 20, the 50, the 200 day moving average. We just had earnings. It gapped down and recovered nicely from there. So that looks like an earnings shakeout to me. So that which didn't kill it makes it stronger. Where's our anchor from that low? And you just start analyzing the stock and saying, "Hey, it held on that day and now our week to date volume weighted average price is right with the five-day moving average. So maybe my worst case stop goes slightly below there." That's the way I start to look at things first thing in the morning. So, Moses, great question. Um, I'm sure there's more to it there, but as a as a quick response, that's uh that's what I've got for you. Justin says, "When analyzing ETF charts like PTLU or TSLR P uh so PLTU is the double long palunteer. Um, do you focus solely on the ETF chart or also consider the underlying only the underlying? Because the way the math works on these with daily compounding, it doesn't work out that, you know, you buy it down here, it's going to go exactly twice as much as what Palanteer does. The the returns aren't the same. Read about read the math about it. I'm not going to, you know, I'm not the mathematician to explain that. But the bottom line is I don't want to trade PLTU based on PLTU. I want to trade it based on PLTR. Now, you could say, "But Brian, I buy bounces from the 20-day moving average, and PLTU did that perfectly, but PLTR didn't." Well, PLTU is nothing. It's just a madeup product to gamble. That that's all it is. So when when I look at it that way, you know, I look at the underlying the most liquid and what it's based on. It's, you know, similar to trading an option. I I would not look at the chart of the option and ignore the chart of the stock. I would instead say, okay, I'm going to trade this option. I don't care what the chart of the option looks like. It's going to look something like the stock. Um, and it because it's based it trades based on the stock. Now, if something for some reason it's completely wacky, then I might notice. But I'm more interested then at that time in looking at the option or the ETF and saying, "Okay, what's the spread? Is this one liquid?" And PLTU is liquid. PLTU trades uh an average of 5.7 million shares per day. So long answer to the short question is that I never look at I I almost never look at the uh under the the uh leveraged chart. I only look at the underlying. Dustin um Daniel says, "What are your favorite resources you suggest a professional full-time trader to check daily, weekly, and monthly? Well, daily. Um, I get a couple of these morning newsletters um, let me see. I delete them quick. So, none of them are in my inbox right now. Look at my look at my trash. Um, and go to uh that page. Let's see. So 7:30 in the morning I get a email from let's see Wall Street Breakfast which I think is from uh that is that's from uh Seeking Alpha. So I look at that and you know they've got a kind of a little summary of here are some important earnings, here's you know when Trump is talking, here's when Powell's doing something. It gives you the you know kind of the a look at the news of the day. So, I look at that and I say, you know, is there anything here that I should be aware of? And I don't look at it and say, okay, all I want to know is Trump speaking at 2 p.m. I'm not going to read the paragraph. I don't care what he's talking about. I might, you know, it might say tariff or I might catch one word in there, but I'm not interested in the reporter who's just out of college, you know, in his first real, you know, his first job and what his opinion is. I'm just looking at saying, what are the potential catalyst? At 9:30, we've got this number or, you know, at 8:30 we've got this CPI, PPI, uh, we've got non-farm payrolls. I want to know what other people might be keying off of. I want to. So, I look at that email. I look at another one from uh I just switch pages by accident. Um and I I I mean I look through that email probably in about three minutes. There's another good one called short squeeze. Um and that's uh so they do a good job of um you know putting out some links to articles. So they you know so it'll say S&P 500 erases 2025 losses. I will never click on that. inflation cooler than expected in April despite tariff hikes. I will never click on that. Digital banking ch startup Chime files for US IPO. I make a mental note of and say, "Okay, there's another company that's going to, you know, that's getting confidence to do an IPO after E Toro did today." Never going to click on that article. Microsoft cutting 3% of its workers. Great. Stock probably goes up when when we have layoffs. I will never click and read that article. Trump tariff release leads to dollar rebound. I will never click on that. I might look at a chart of the dollar. You can now order a personal chef or trainer for Airbnb. Don't care. Uh Google backs Saudi AI. Don't care. Most expensive car Starbucks drink is $45. Clickbait. JP Morgan become could become the first trillionaire bill, you know, trillion dollar company. Who cares? So what? Um, Toyota launch a revamped EV. Who cares? Live Nation bets big on, you know. So, Nvidia join rejoins the $3 trillion club. Is there anything in this news that is is a potential catalyst or something that can help me make money? Most of the time, the answer is no. So, I will then look at, you know, sometimes at a page where um not every day, but I'll look at um you know, the stocks the biggest gainers and I'll look at that pre-market and kind of go through those and maybe try to see if there's any themes in there or if there's anything I should be aware of. So, I'm trying to establish what is what are the things that people are going to overreact to today. They're going to overreact to the Fed. they're going to overreact to the Trump maybe or you know what what are the things that could potentially derail a stock that I'm in. If I'm in Soundhound then uh I've got to consider what are other AI companies doing and um you know again realize that its average range is 8% a day. So this is a volatile stock. Yeah, I can get rich quick with it but I can also get hurt really badly. Everyone forgets this part. Um, so I'm trying to establish, like I said, and Pat, uh, the questions should be sent into alpha trendsbookgmail.com. Uh, we have questions there that are ahead of yours, so it's not likely we'll get to yours. I'll try to if I can. Um, so you know, those morning letters, I don't read them because I care about the news. I don't care if what Nvidia is a trillion three trillion dollar company. That's back of the baseball card stuff. It doesn't help me at all. I'm only interested in things that jump out to me and say um you know there's this drug is or this company has got a presentation today. Uh so I got to be aware that um you know if I own that stock um around that time I've got to be aware there could be heightened volatility. Um how do I want to handle that? The other thing I would say that you want to do on a you know weekly basis is definitely and I retweet it every week is the uh earnings calendar from uh uh uh oh what's their name I've been follow the the earnings calendar from uh earnings whispers ew whispers.com and then I look at the the um and I also retweet this is the uh headlines for the week in terms of econom IC and I filter those because a lot of times it'll say these 12 Fed governors are talking and I don't I don't care. I mean, if Powell's on the on there, then I'll I'll leave that on the calendar, but I'm interested in, you know, what is potentially moving and I want to know, of course, when my company's due to report earnings. And I also have that, of course, on my charts. So, I always know if I'm flipping through some charts, if I'm looking at Amazon, you know, earnings are August 7th. that means they've already been reported out of the way. Same with, you know, Apple. So, most of these companies, big companies have reported, but I want to know what potential catalyst there are. That those are those are what I'm looking for. I don't subscribe uh to anything. Um is that true? Um do I have any paid subscriptions? Uh I think everything I get is free. And it's not because I'm cheap. just because I just don't care about other people's opinions. Um, and and again, it's not it's never a cocky thing at all. It's these are the opinions I'm interested in. I'm interested in the people that trade 53 million shares of Apple per day, not the people who write articles. So, I'm interested in the aggregate of opinions, not what someone wrote an article about. Um, Jim says, "IPOs are starting uh finally starting up again. Do you think it's a good area to focus on in an uptrending market?" And Jim, that's a great uh that that actually helps me with the previous question in terms of resources. I think it's a good idea to look at. So, I get a um IPO calendar from uh what's their name? Um oh, I I saved it this week, so I should be able to find it. Uh I think it's called Renaissance IPO and they have a Twitter uh handle. Um but they're but they don't always tweet the good stuff. It seems their free newsletter. I look at it and what it does is just tells me the IPOs. So this week we have E Toro. I knew that was going to be a hot deal. So I have interest in that one. M Energy Technologies. So, it's energy and it's out of Singapore and then we've got Antalpha platform. It's anti-alpha. What the hell? Um, and also out of Singapore. So, I'm not interested in Singapore companies. I don't know how they do their accounting or what their currency is or, you know, I'm not interest. So, the only one on there that I would be interested in is E0. I would look it up the day that uh so you know they they came public today and for some reason see if they fixed it. No, they don't have it on uh TC2000. They do on um so I I don't know why they didn't add it. They have it on uh Trading View, but anyways, I'll I'll check and see what the pricing was and then what I'll do is um let's see. So TM was an IPO last year. What I typically do and I didn't do it there. What was another recent IPO? Um, what I typically do is I will go over here towards the beginning of it and I will just do like this. I'll say 45. Um, and I leave that there as a note to myself uh to say that's the price the company came public at. I believe it was actually 40. But when a new IPO comes, I always just put the data on there to refresh my memory where the true supply might exist. So I have that on my chart. Just similar, very similar to, you know, NVDL and NVD. If I want to trade these, but I don't want to trade the stock, I can do a double NVDL or a a single short. If I'm dumb enough to short this uptrend, I would buy NVD. Um, and NVD of course is in a horrible downtrend this past week because NVDA is heading higher and NVDL is in a beautiful uptrend up 8% today when Nvidia was up 4%. So, you know, those are the things that I look at. So, so Jim, back to your question and tying it into the previous one. um once a week or so if we we're in IPO uh season basically we've got a lot of prices then I will go to one of the IPO um sites uh and I will just kind of go through and say what are the pricings of the last month put those in my list to make sure I've got the hot ones so I look I might have missed one or you know some of them over the last two weeks because I wasn't paying attention but I might look at the IPOs and say well that one you know nobody cares it's trading 50,000 shares a Hey, it traded a million shares the first day, 400,000 shares the second day, 150,000 shares the third day, and now it hasn't traded over 100,000 since. So, if the market doesn't care about it, I don't care about it. So, uh, good question, Jim. And, and the an so you kind of I went on a tangent with my answer, but the answer is yes. IPOs are are, you know, flare, you know, heating up a little bit. I think it's time to pay a little bit more attention to them, but be picky about what you choose. you know, look at the pricing of the IPO. You know, those little $ four dollar ones done by uh Roth Financial or whatever. I see them a lot. Roth something. Uh are they are they are they real companies? So, look at the underwriters. Is it Goldman Sachs? Is it, you know, uh some of the big names? Is it is it Gold? Um are they the ones underwriting it because they're going to, you know, provide a bid for this for the stock typically? Um, Core Wave, that was the other one I was trying to think of that came public recently. And why isn't my thing there? I think I deleted. So, the problem is when I put, you know, when I put something on here and I think they were 40. Um, so when I if I put a a VWAP on here and then I've got one there, I want to clear those off. Unfortunately, sometimes I forget to go back and put the price of the IPO on, but I know it was 40 for Core Wave. and you know look at the anchor from the IPO and you know focus on those and yes good question um I spent too much time on that. Jason says what time frame do you primarily focus on to tell if the five simple moving averages rising, flattening or falling? Do you use the 15, the 30, the 10, the five, the two? I don't use the five or the two. Um so you know I on the five and the two I like to have my 1 2 3 4 5day VWAPs. also on the two twominut time frame and my pivots. So, I don't want to put a moving average on there and cloud it up. I have it on my 10-minut time frame. I have it on my 15 minute time frame. Realistically, I would probably say I look at the, you know, the 10 or the 15 the most for that. I don't look at on the shorter term time frames because it gets too cluttered. And the 30 minute time frame, you know, that's where I do all of my uh videos. So, I'm always pointing it out there as well. Um, Scott says, "When you're day trading on a 15-second candle," see, I knew I should have never mentioned trading on a 15-second chart. And I I've just got to make a a correction here. It was 15-minute bars. Definitely not candles. I despise candles. Do you scale into position size? I do this using VWAPs on the spy and the cues. Uh, using internals like tick. If so, could you please give us a playbyplay? Uh, no. Absolutely not. You will never see me trade on a 15-second chart. That was me sitting in the corner with a bicycle tube wrapped around my uh my big vein so I could tie off and get a quick hit. It was a complete junky trade, but there was tons of volatility. So, you know, a 15-second chart is not going to be a useful time frame unless you've got massive volatility in ranges and you're crazy enough to get involved in there. I was trading, you know, one or two contracts, that's it. I wasn't scaling. I was trying to be as precise as possible. Um, so again, it was really kind of a junky trade. I hate to say it. Um, let's see. Uh Arya says um when anchoring a VWAP such as yearto date, I've noticed that you that the value can vary significantly intraday depending on the chart's time frame whether extended hours are included. I typically don't include uh um uh what am I trying to say? extended hours. But yes, the the it it will change just like you'll see, you know, when you're I I just did a video yesterday of this and I'll I'll post it. Um I did a quick video yesterday morning on the open where I had a five minute chart, a two-minute chart, and a one minute chart. And I put So this was yesterday. Uh so I put the VWAP or was it? Yeah, that was yesterday. So, I put the VWAP on from the very first minute. And what I was trying to show was that, you know, the first 20 minutes. Let's do this. Let's make this uh here. Let me fix this. Oops. That's not what I want to do. I want to get rid of that. Okay. So, let's just do this. Let's go to today. And it goes on all of them. So first thing in the morning, what do we see? Right? So first thing in the morning on a one minute chart, we see that the market rallied. This this dot is the anchored VWAP for that first minute. On minute two, the VWAP for minute two was higher. So it drags this line higher. that dot and that line after 2 minutes will not change for the rest of the day. Then we have the third minute, the fourth minute and the fifth minute. Well, it isn't until 5 minutes that we can see the first five minutes is done and we have two candles then three c three bars. You see, somebody got me saying candles. Um that we have any actual useful data. So you're going to see, you know, for the first five minutes of the day on a five-minute chart, you're going to see this little or purple ball bouncing up and down. It's going to give you zero information. So the short answer is I always encourage people to look at it on as short a time frame as possible. Now what does that mean? So, I can't really look at a year-to-date anchor on or let's let's consider the spy. Um, and and I tried to make this an example in the last uh, you know, couple weeks saying that on the daily chart, it didn't make sense to put an anchor on it that day. However, on a shorter term time frame, it made sense because it wasn't until four or five days later that we saw any value whatsoever in the anchor on the daily time frame. But on the shorter term time frame, we can see this volatility around it that you can't really see here. But you saw we had a sharp undercut of that VWAP right here and then a sharp undercut here. You can see that maybe a little bit there. But you want to look as shorter term time frame as possible for the most accurate one. But you know looking, you know, changing this to a one minute chart, you know, it's it's just it's not feasible. One, the data doesn't go back far enough for that. Um, so just look at generally for it to have value, I think you need to see any VWAP needs at least 5 to 10 bars. So on a one minute chart, your first 5 to 10 minutes of the day, you you want to look, you know, if you're day trading this the, you know, whatever it is, you want to look at your one minute chart. After about 15 20 minutes, you can look at a two-minute chart. After about a half hour, you can switch to a five minute chart and probably leave it there for the day. Um, Zach's question is, "When I set up an anchored VWAP on Trading View, there's an upper and lower line above and below the VWAP. Should I pay attention to these lines? It's always confused me. Hope to get a computer soon and get TC2000 because I'm doing this all on the phone." Uh, that's a uh big disadvantage doing it on the phone, Zach. And I hope you uh get your laptop. I would say, you know, so that those lines are uh standard deviation bands and they default on trading view. When you set a VWAP, if you doubleclick on that VWAP, you can go into it and you can see under style, it will say so you have uh input style and visibility. Under style, it'll say lower band one and lower band or or and upper band one. So if you uncheck those, it'll remove those uh those bands. So again, those are standard deviations around the daily VWAP. I personally don't use them. I find them to be, you know, when I've got moving averages on the chart and I've got VWAPs on there. I don't need to add two extra lines. So I don't find them to be useful. Um other people do. If you find them useful, continue to use them. Um, there's no perfect way to do it. So, but if you find them dist distracting, you can definitely turn them off. Um, let's see. Etienne says, "How do you handle the elastic effect when trading leveraged ETFs? Seems like they tend to overshoot on the way up and undershoot on the way down just like options. I'm talking about seconds time frame when it's time to hit the buy and sell buttons." You know, there is that and it can be frustrating. and you're talking about, you know, very shortterm stuff. I would say if you find that to be an issue, then you should be trading with um limit orders, not market orders. Um Brent's question is, when anchoring from a recent significant higher low, do you anchor from the high or the low itself or OLC divided by four? Always OCLC divided by four. If you look at a bar and this was the range of that bar, it was 1 minute, it's 1 day, whatever it may be. And then if let's say you looked at a volume profile, you might see the volume profile that the volume profile shows the majority of the volume, you know, and this is the high of this move. Let's say it's right here. The majority of the volume might have occurred down near the low. The VWAP will be right here using OHLC divided by 4. What we're looking at is we're not interested in the three or four trades that occurred here. We're interested in the average price. So the the actual, you know, an actual Vue app is only generated with tick data which shows every single trade. If this was a one minute bar, it is at, you know, again, for the first minute, it's a bouncing ball going up and down um until we see minute two and then minute 2's VWAP is here. So then they just connect each VWAP dividing with the prior one. Um so each new one gets less weight because there's more of them. Uh the first one is the, you know, the biggest. It's got the it's like the IPO volume when and and speaking of IPOs, when we see an IPO occur, and I wish I could show this with uh E Toro, you're going to see massive volume on that first bar. It might look like this. On the second bar, you might see volume that looks like this, which is still big volume. And then the rest of the day, it might do this and see a volume like this, but you'll never see that first minute volume again because that includes all the buy and sell market orders. Um, so basically that first print of the day is massive volume, but it's just matching orders. So it's not real supply and demand in the free market. So I always suggest anchor from the second minute. And you'd be surprised on these how much difference there might be between the one and the two day. Um, yes, it's always recorded, David. Um, so my preference is always open, high, low, close, divided by four because I'm looking at what is the average participant looking at. That's what I want to know. Uh, what is the average price? It's the volume weighted average price. It's not the volume weighted highest price. It's the volume weighted average price. So, uh, Donniey's got a question here and then I will get to Pat's from the Goto Webinar and then we will be done. We're at 4:00 here, my time, 6 o'clock. This was scheduled for an hour. And one more email question. There are no other questions there that will be unanswered. And I will also get to your question, Pat. So, 100% of all the questions will have been answered. So, uh, second to last question from Donnie is, if a stock with an advancing 5-day moving average briefly spikes above my planned entry, then pulls back below VWAPs but reclaims them with momentum, is it valid to enter lower than my original resistance level? Yes, if it's above the daily VWAP, yes, absolutely. Or should I wait for a confirmed move back above that level? I'm reviewing my trade in LFMD where that occurred on 59. Donnie, absolutely. If it gets, you know, if it if it runs quick and then pulls back but recovers above the VWAP and the daily VWAP is above the two-day, you're good to go with that entry. Okay. So, I'm closing that email. The next time I open this email is when we do another subscriber uh webinar for X. Um, and the last question here in the Goto Webinar was from Pat. Is it useful to watch the anchor VWAP deviation lines? So, kind of the same question that uh Zach asked. Um because I can see you don't display them or only use the and only use the anchored view app itself, Pat. So, again, I would never discourage anyone from using something that helps them personally. So, if you find value in it, then continue to use them. But if it's something that you're looking at and it confuses you, take them off. I again, I don't find value in them, so I don't use them. And we are now done. So recording is now