Photo by Jason Briscoe on Unsplash
Geopolitical fear is officially sweeping over the U.S. equity markets. With the ongoing military escalation between the U.S. and Iran, the Straits of Hormuz are effectively closed to commercial shipping, sending shockwaves through the global economy. In today's urgent market update, Chief Market Strategist Gareth Soloway breaks down the violent overnight price action, with the NASDAQ plunging 2% and Crude Oil spiking.
While retail investors panic, the charts continue to provide clarity. Gareth highlights his incredible "Smart Money" call on Silver from yesterday's video—while the comments called him crazy, the charts proved the Bear Flag pattern was intact as Silver tumbled. He explains why treating the crowd's extreme emotion as a contrarian indicator is the ultimate trading superpower.
The S&P 500 is sitting on a trap door.
Gareth dissects the critical "Line in the Sand" at 6,790. With the market repeatedly hammering this support, he explains the psychology of a breakdown and maps out the exact target of 6,550 if the level snaps today.
In this video, Gareth covers:
Macro Chaos: The market impact of the Iran conflict, the VIX threatening to spike to 50, and the exact resistance zone ($77-$80) where Gareth plans to short Crude Oil.
S&P 500 & Nasdaq Breakdown: The critical Head & Shoulders neckline, the mechanics of a trendline break, and the ultimate macro target of 6,100 for the S&P.
Commodities & Metals: Why Gold is collapsing with silver, as the key resistance on gold was tagged perfectly yesterday, rejecting price today. Silver saw the same thing, a failed breakout and as much as a 10% drop today.
Gareth then shows his live portfolio, that members of Smart Money Stocks & ETF's get. He shows his net return on his $1M portfolio for the year so far, full transparency, every entry/exit, gain/loss, real time price action.
Trading Psychology: A masterclass on ignoring the "FUD" and using extreme social media sentiment to confirm high-probability chart setups.
Stop trading the headlines. Trade the probabilities.
Video Length: 00:12:35
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