What's going on my interwebs, people, this is your Market minute update with me. Matt And we have some pretty crazy things to talk about today. So yes, I'll be giving you your old stock market update of how the market was surprisingly green today and we have a little bit of specialty story involving Bill Amman and what's going on with Bond SL shield and then if we're drilling down into some individual equities Nvidia Very, very green today. but it wasn't the only thing that was green today.

We got to talk about Crypto because Bitcoin is ripping to the High Heavens So I want to get into all and all the other major economic things to pay attention to, earnings to pay attention to basically all the key things to pay attention to for the remainder of this week. but I also have some major updates related to what's going on in the Middle East cuz some crazy breaking news coming across the wire just now before I hit that record button. So obviously we got to talk all about that. but before we do, don't forget to H the like button.

don't forget to subscribe and now let's rock. By the time the closing bell went dingy Ding ding ding today Monday October 23rd I would argue that the bull Camp was pleasantly surprised. The golden question obviously is though, will they be able to hold on? And that's exactly what we're going to be getting into. NASDAQ snaps 4 days of losses at 10year treasury yield Retreats from 5% and there's a major reason for that that I'll be getting into.

But first, here's a little look e see for those of you who are more of visual Learners Here's the map of the S&P 500. So Tech as you can see doing surprisingly well while energy and a little bit of utilities and materials not doing the best today. and here's a little bit more. the S&P 500 down 2% but I would chalk that up to a Wi because we actually gap down even below that and the market fought back.

At one point it was straight up green and then the second half of the day started to Trend red. And that's because of an update in the Middle East Obviously, I'll be sharing all of that Tech sector doing even better today, closing up in the green. 3% and a lot of these individual equities I think a lot of people are paying attention to Tech Those are the exciting growth opportunities very much in the green, with the noteworthy one being Nvidia Big big news there. also big news involving Bond SL yields bonds finally bouncing a little bit while yields finally taking a bit of a breather coming down to the other side.

But what's really stealing all the glory today is Bitcoin good old digital gold ripping recently From Below 27,000 to now above 31.5k and as I'm filming this, it's going higher and higher, potentially getting to this major breakout level. Look at this, it's actually as I'm filming this. This is kind of exciting I Want to know where it's going to be at at the end of this video? Maybe just maybe getting an actual technical breakout in the short term. This could lead to the region of maybe 36 37 38k.

So for all the crypto supporters out there, a massive congrat That's to all of you I mean look at the noise this is from coindesk Bitcoin rises above 31k with options positioning suggesting price has further to run all spot Bitcoin ETF applications may be approved together Crypt Traders suffer over 100 million of short liquidations as in the Bears getting blown out as Bitcoin hits 3mon high over 31k grayscale Court victory over SEC and spot Bitcoin ETF case made final. Everyone is reving in bullish excitement in the crypto, but specifically Bitcoin's fear today. And here's the major news that you need to know: Bitcoin trades above 30k to start the week as hope grows for ETF. So first of all ETF exchange traded fund.

Think of it as a basket of something. In this case, that basket would actually be Bitcoin And the reason this is such a big deal is because from a legal regulatory perspective this is an official Highway on-ramp for big money to get involved in crypto. If you have an ETF now retirement accounts 401ks IR raise which is over trillions of dollars will if they so choose have access to the world of crypto. So this ETF when you invest into it, that money would officially be going into Bitcoin which is a little bit different than a Futures Bitcoin ETF because that is officially going into Bitcoin Futures not Bitcoin itself.

That's the difference between being physically settled and cash settled and it might sound the same, but there's enough nuances that it's very, very important for like the official Wall Street People Investment Funds Regulation SEC and all that good jazz. But here's the Highlight As of the point that I'm filming, this is not approv, but it does look from various various perspectives that we are knocking on the door of Official Spot ETF for Bitcoin approval. Even at this point, we're even seeing some early listings on the NASDAQ and we're talking about Black Rock And really, their partnership with Ishares. We're looking at some potential maybe listings there, so this is why there is excitement across the Bitcoin.

Cryptosphere is hey, it sounds like Regulators Specifically, the SEC is going to have to finally admit that they've been dragging their heels for far too long and this should have already been approved. And you know who's the most stoked this guy. Mr Michael Sailor, the artist formerly from Micro Strategy. Recently, he stepped down Micro Strategies Bitcoin Bet turns profitable again during Crypto rally.

Now does it really matter much? No. Because I Don't think that they're going to be selling anytime soon, but hey, it is nice to not have that pressure of being underwater. So I'm sure some of you watching this right now already Big supporters of Bitcoin Specifically I'm sure you're excited, but I Don't know if anyone's more excited than this guy who has obviously for years been massively massively bullish and supportive of the Bitcoin cause when he's profitable, everyone's applauding him. When he's in the red, everyone's mocking them.

So recently, we're going across that threshold. I Suppose post big news of the day In terms of yeah, it's going to have an impact on the crypto Market but mainly the equity Market Treasury 10-year yield breaches 5% for the first time since 2007. So let me bring that up for you. if you're on trading view, it's Us10 Y And let me switch it over to the Daily overnight when most of us were sleeping prepping for the trading week ahead.

Yes, the 10-year yield did get above 5% but it didn't last long. In fact, it only happened for a little bit and then you can see yields effectively vomited, which actually led to the nice, bullish result of bonds finally, for once going up. Why is this important? Well, first of all, when you're looking at monetary policy, when you're looking at Yields, bonds and the dollar, you have to pay attention. What's going on with inflation? You have to pay attention to the Central bank and what are their goals to fight inflation And all, this is intertwined and just very quickly.

For a real world example of why this all matters: Car owner fall behind on payments at highest rate on record. It doesn't take long. It doesn't take many searches on the internet to find other headlines like this such as credit card debt officially above a trillion dollar. It doesn't take long to find out that the default rates on credit cards now spiking.

It doesn't take long to figure out that mortgage rates are sitting above 8% All of this is secondary tertiary effects of what's going on with the FED Monetary policy, fighting inflation, and the next thing that you could really see is yields, roaring bonds dropping and even potentially the dollar ripping to the upside. So the fact that there's a little bit of a breather. Well, obviously people are starting to applaud it. So I Just want to share that with all of you.

And even though early this morning yes, we did have bonds continue to go down. And yes, we did have yield going up and ended up reverting on some potentially interesting news. Bill Amman Of Persing Square tweet Weed out at 9:45 A.m. we covered our bond short and then just for a little bit more detail here.

Bill Amman Covers Bet against Treasury says too much risk in the world to bet against bonds and obviously he did follow up on his own tweets: there's too much risk in the world to remain short bonds at current long-term rates, The economy is slowing faster than recent data suggests. I Don't think many people are questioning the fact that maybe with the Treasury Secretary, maybe with the administration, maybe with the FED is telling us is maybe not exactly 100% transparent, maybe not exactly 100% forthcoming. And it's interesting to see a person who is well known on Wall Street dare I say it's somewhat respected on Wall Street Basically calling him out like yeah, maybe the data were being given is not exactly what is truly happening. not necessarily calling them a liar, but I'm definitely not calling them a truther when it comes to what the government what these elected regulatory bodies end up deciding to give us.

So um, not calling them a liar as I said, but clearly not calling them a truther. So anyway, Bill Lman riding bonds down for quite a while, finally deciding to take that short position off. and that caused bonds to pop and remember. Bonds and yields move inversely.

If you see bonds going up, you can bet yields are going down. and if you see yields going up, you could bet bonds are going down, they move the opposite way. So bonds have been traveling down as yields have been traveling up, but recently as into kickoff this week, we're seeing the opposite. We're finally, finally, finally, finally seeing a breather in the world of bonds.

Which also means we're finally seeing yields, not Ri so much. Now Will this continue? That's obviously the golden question. There's a lot of things to consider. Namely, the thing that's evidently in all of our faces is what's going on in the Middle East is real Lus Hamas says it released two more of its hostages.

That's a good side. I would argue maybe that's a sign of tensions I wouldn't say coming down, but maybe flatlining, Maybe not ripping to the upside and something that none of us wants Biden talks with allies to stop Israel Hamas War Spreading well right before I hit record. A fair thought here is well, is it working? Literally Before I hit the record for this particular video, look at what's going on if I if you go to Twitter if you you go to X, whatever you want to call it. Some of the recent news related to the quote unquote: Iran search Us Official: Iran are seeking to escalate conflict in region Iran Seeking to escalate conflict in region Iran Seeking to escalate conflict in region according to a Us official.

So before I share any of this obviously I wanted to kind of fact check it and make sure that multiple sources but this is coming from Us officials so clearly not the best Vibe of the situation which is arguably also why at the end of the day, we saw the Market start to sell off. Now first of all, yeah, we knew there was a bunch of negative Gamma. If you want more of an explanation on that. I Highly recommend checking out the show from yesterday.

Sunday Uh, kind of explaining just the overall structure of the options market and we just knew that a lot of the options market makers didn't have to be hedged so bearishly. and surprise surprise, we saw the market pop up, rip through the upside Gap fill get all the way up to 424 and then we heard about the continuation in the negative de Vel Ms involving the Middle East and guess what, the market started to come right back down so just want to share how that all somewhat played out in real time. But if you look at the daily, honestly, there was a downside liquidity sweep. We opened up lower so there was an upside Gap fill push even higher.

Yeah, there was a smack, but you could argue this was a run-of-the-mill bear trap and you're actually seeing that on the Q's the tech sector as well relative to this low that we've seen before. and I'm talking about the one in late September We pushed just below it and maybe trapping some bears trying to chase it. To the downside and surprise surprise, it pushes back up. Now what does that mean for the remainder of the week? your guess is as good as mine.

but I do know there's some important things to pay attention to such as this: Nvidia plans to enter PC Chip Market with arm-based CPU chip as early as 2025. Very very good news for NVIDIA Nvidia Not having the best of day until this announcement came out and then it basically rocked Ed off the 410 412 level, getting all the way up to 429 and post Market as of now 431 If it can hold above this tomorrow, maybe returning back up to the 450s. Something to pay attention to, but obviously if someone's winning, that means other companies are losing Intel Stock drops on report Nvidia is working on Arm based PC chips. So Intel Taking hit arm taking hit.

Basically, if you look at this cohort of semiconductors, these companies these processing chips the GPU use the CPUs Well, if one's crushing it, that's obviously taking some market share away from the other ones, at least for this style of a deal. So Intel taking a hit AMD taking hit Nvidia Really making a pretty solid recovery, so just quickly want to share this with all of you, especially if you have a particular trading interest within this industry. Now Finally, let's talk about the other major things to pay attention to for the remainder of this week. First of all, you could get this newsletter for free I post it every single weekend m.

Locals.com I Break down the previous week and also let you know what to look forward to the upcoming week. So this week, in terms of macroeconomic events, the show really gets going tomorrow. Tuesday October 24th when we get some PMI numbers. A little bit into the trading day, but I would argue that the fun is later on this week on Thursday when we get the GDP numbers before the Market opens and then on Friday once again before the Market opens, we get the next inflation report.

The Pce report very very important to pay attention to and I don't want to like lit the cat out of the bag. but the week after that's when we actually get all the decisions of the Fomc. What's going on with the FED interest rate and all that good stuff. So the next 2 weeks in terms of macroeconomic reports, a pretty important time period.

On top of all that, we're also in the middle of earning season. Last week we had Netflix they beat. We also had Tesla They completely missed this upcoming week we have a lot more Tech names including what's going on with Google Microsoft Snapchat Visa not really Tech name but obviously important on Wednesday we have Meta on Thursday We're going to be hearing from Amazon another tech name, but we also have some Financial names, Capital One and things like that. But here, feel free.

This is free. You could get it on Twitter you can get it on the newsletter, but yes, we are in the middle of earning season. Please pay attention in terms of seasonality today. Monday did favor the Bulls surprise surprise from open and close we were green on Tuesday leaning bullish and then here's the remainder of the week.

it goes bearish, neutral and then once again bullish. And last week for the first time ever, the Z Z DTE signal went batting 1,000 10 out of 10 trades all hit which leads me to the zero DTE call outs for today. As you can see October 23rd we had a spy put credit spread and a Q put credit spread so basically needed the Spy above 418, needed the Q's above 351 and just for those of you keeping score at home yeah, both of them were above. So starting off the week once again looking pretty green.

So right now the streak is officially 12 for2. Very excited to see if that continues now. Obviously, if you have any questions on that or anything else that I discuss, feel free to stop by one of the streams and you could ask in real time. you could shoot me a DM on Twitter Instagram any of that good jazz.

Very very reachable if I send anything that you just want further clarification on or want to dive a little bit deeper into. Now obviously if you enjoy these type of updates of what's going on in the stock market, the economy, and really the whole Global political situation. don't forget to like. Don't forget to subscribe.

I'll catch you in the next one. Have a beautiful day. Peace out.