What's Up? Duties and Dudets Welcome back to another episode of what the Heck is happening in the World today with me Matt We have a lot to talk about I'm kind of excited cuz in the world of the economy, the stock market things are actually looking a little bit optimistic in the short term, so obviously we're going to be getting into that. But before we get there, I have some wild updates related to the President of the United States and also some craziness happening in the world of crypto. So very, very excited to hop into all this. But before we do, don't forget to smash the like button and obviously don't forget to subscribe if you want more of this content.

With that being said, let's ride. By the time the closing bell went dingy, ding dingding today Monday October 16th things were looking pretty green. stocks close higher Dow rallies 300 points as optimism over earnings outweighs higher rates. So taking a look at the market, it was very green.

The Spy exploded the morning, then traded sideways the same thing with the Q's The Spy was up over 1% and the Qes were up 1.13% So hey, if you were trading degenerate call options, congratulations to you I hope you made a bunch of money. so clearly yes I Want to talk about what's going on in the world of stons cuz there's a lot of action and I think we might be knocking on the door of a big breakout, But before we discuss that, there's a lot of things we should dive into because I think they're pretty important updates such as this: Israel latest Minister warns of long War as Biden ways visit. We even have some updates on this whole conflict with regards to China China says Israel's actions are Beyond self-defense as Us races to avert wider conflict. more than 1,400 mostly civilians have been killed into Israel in the week after Hamas militant group stag the worst assault on Israel since the 1973 Yam Kapor.

War Israel last week pound a Gaza and air strike that have killed at least 2.7 th000 cut off food, water, fuel and electricity to to the Palestinian enclave and ordered civilians to evacuate Northern Gaza ahead of an expected ground assault amid eradicating Hamas Speaking of China, the US isn't really idly sitting by letting them say this. in a certain sense, they're kind of hitting back through some back channels us to Titan rules aimed at keeping Advanced chips out of China think of Nvidia AMD Intel Qualcom. that's the type of semiconductor companies were talking about. the Biden Administration is refining rules aimed at keeping Advanced ships in manufacturing gear out of China seeking to close loopholes that might help its geopolitical rival gain cuttingedge Technologies The latest regulations are an intent to streamline export curbs announced last October The new rules will strengthen controls on selling graphic chips for AI applications and advanced ship making equipment to Chinese firms.

To summarize this, basically, they were finding loopholes where if the chips were sent to a different country before going to, China was allowed and those are the loopholes that the Biden Administration is now trying to close up. The move will set set new guidelines for companies like Nvidia which has been selling a weakened version of its Flagship processor to Chinese companies to abide by the current rules. The tier stands may make those kinds of workarounds more difficult for American exporters since we're talking about Biden This is a perfect time to bring up one of the most ridiculous pieces of news I've seen in a bit. Biden Campaigned to launch Count on Trump's Truth Social Yes You heard that right? There's very little quotee unquote truth happening on True Social, but at least now it'll be a little fun.

According to the Biden campaign, Biden campaign enters Trump territory with truth Social account The Biden campaign on Monday joined True Social, the web platform launched by former President Donald Trump in hopes of converting supporters of the former Commander-in Chief into Biden voters. Well, let's see how this goes. Converters welcome The campaign wrote in its first post under the handle at Biden HQ Now I Highly doubt that Biden came up with this idea idea by himself. it was probably the administration that surrounds him, but hey, I'll give an Applause to those guys.

Not only is this pretty funny, but it's pretty ballsy. Before we move on to the next major segment, let me know your thoughts in the comment below. Do you think this is a smart move by Biden or do you think he's just going to end up as I suppose the internet's punching bag. Now it's time to talk about another ridiculous thing I Saw on the Internet today SPF Lawyers say he needs Aderall hinting that he might testify I Know that's a wild headline, probably something you never predicted you'd ever be reading, but it's even more ridiculous than that.

After 2 weeks watching his closest friends detail the collapse of his FTX Crypto exchange Sam Bakman Free's lawyers brought up the possibility of their client testifying in his own trial, complaining to judge LS Kaplan late Sunday about the lack of access to Aderall in jail. They argued that Bakman Freed wouldn't be able to quote unquote, meaningfully participate in the trial because he hadn't been receiving his full dose of Aderall I Have to admit, this entire legal proced seeding is the gift that keeps on giving as we approach the defense case and the critical decision of whether Mr Bankman Freed will testify, The defense has a growing concern that because Mr Bankman Frey's lack of access to Aderall he has not been able to concentrate at the level he ordinarily would and that he would not be able to meaningfully participate in the presentation of the defense case. You know what? This reminds me of the meme from that DodgeBall movie where he's like, that's a bold move cotton Let's see how this one plays out. This whole development wasn't the only ridiculous thing that happened in the world of crypto today.

If you were paying attention early early this morning Bitcoin Ripped out of nowhere, it went from 28,000 over 30,000 and then it very quickly fell. And this was because of a misreporting related to a Bitcoin spot. ETF There was an account saying yes, it got approved, people believed it, they bought Crypto up, and then the news actually came out and said what are you talking about The spot Bitcoin ETF is not approved And finally, after a lot of research and due diligence and everyone on the interet internet looking around to see where it came from, everyone's pointing fingers at Coin. Telegraph We apologize for a tweet that led to the dissemination of inaccurate information regarding the Black Rock Bitcoin ETF An internal investigation is currently underway.

We are committed to transparency and we'll share the findings of the investigation with the public once it is concluded within 3 hours now. I Have a very interesting, uh, that's probably not the right word I would say maybe disheartening update from the editor-in chief at Coin: Telegraph But before we get there, a lot of people are starting to point out how there was one person out there that made a ton of money on this. This is from Rbit in all reality I've never heard of this before, but they had some sort of massively leveraged bet of what Crypto was going to be doing. Here we go October 16th.

They wagered 50,000 and somehow it exploded to 2.2 million. So even though this might be a quote unquote mess up, someone greatly greatly benefited. And now this is actually what the editorinchief had to say As you're about to hear uh, she did not seem remorseful whatsoever. Give it a listen social media post and yes, this was disastrous and this is an example of what cannot happen.

But this is what happens when we are having constant pressure to be the first with every news. So ridiculous. And this is not a problem of uh of Journalism per se, it's a problem of the society, that and of the technology. I'm talking about indexation on Google and talking about social media where if you're not the first, you're the last, there is no second third ET Absolutely love it.

If you're not first, you're last Ricky Bobby Maybe she just was watching Talad Kns last night I Have absolutely no clue. but when she's like oh, it's not per se an issue of Journalism Even though it's literally journalism that put out wrong information, she said we we just felt the pressure of it. You should feel for us cuz we always have the pressure to be first. We don't necessarily do or due diligence or check if it's accurate cuz we just want to be first and you should feel bad for us because we're under that kind of pressure to be first and not last cuz we got to win the race.

Honestly I think and rightfully so. The internet is absolutely dunking on her for this take because it's a horrible take. and now with all that good exciting stuff out of the way, let's talk about the old stock market. The upcoming week is going to be a very exciting one cuz we have a lot going on and here's just a little bit of a taste of it.

so for tomorrow, hopefully you're watching this in time. Tuesday October 17th An hour before the Market opens, we get the retail sales report. so we're going to be kind of knowing the strength of the consumer which is important important right now when we're facing inflation maybe maybe not a recession so that's coming out before the Market opens tomorrow and then we're going to get some CPI out of Europe on Wednesday and then kind of a normal Thursday Except at noon o00 when we're all chowing down on some lunch, the Chairman of the Federal Reserve Jerome Powell will be giving a speech once again. that is for Thursday October 19th From there, he's not the only Fed member, he's not the only Fomc member speaking this week.

Feel free to screenshot this or just get it on locals. M. Locals.com This is completely free. Here's a little bit of a subset of the list of Fed members speaking this week.

in total: when I count it up. I Think there's 17 different Fed speeches this week, but these seem to be the major ones. And yes, every single day of this week, there's going to be at least one Fed member speaking. So obviously when we're thinking about inflation and monetary policy, this could all have a Major Impact.

So once again, here are the times here are the people of the major ones that I think you're going to really care about speaking of what you care about. We're also officially underway in earning season. It really got going last week on Friday with all the big Banks reporting and it will be continuing this week. For Tuesday, we have Bank of America Lockie, Martin Goldman Sachs Johnson and Johnson also after the market closes United in interactive brokers.

But I think the exciting thing really gets underway on Wednesday when we hear from two major Tech plays Tesla and Netflix So once again, either show a little bit of love to at E Whispers or screenshot this. Do whatever you want. I Do give this to you in the newsletter. Once again, this is free Mac.

Locals.com So I just want to bring to your mind Yes, here's all the earnings. Here's all the macro economic events, but I just want to remind you some of the seasonality. Tuesday October 17th Very very very bullish. So over the past 25ish years the Bulls have won this day 61% of the time, so a nice 11.55% edge.

Better than flipping a coin. Want to bring that to your attention? and then for the remainder of the week Wednesday's neutral Thursday leaning bullish and then Friday arguably also bullish. Just want to let you know a little bit of the short-term seasonality of what's going on. And now, just to wrap everything up, let's take a look at the charts.

So earlier in this video I was alluding to how the market was arguably looking good. and once again, this is now the 1, 2, 3, 4 fifth test of the 48. EMA knocking, knocking, knocking. And if it keeps pushing like this, eventually there's only so much sell-side liquidity that if the Bulls continue to have the strength to knock on this store, eventually it's going to open.

And if it does, I think that is the beautiful opportunity to play the upside Gap Fi to 43843 Now obviously, if there's a continuation from there and that could totally happening I would be watching just over 440, that would be my short-term Target But this is what I'm watching right here. It's just a clear shelf and if there's enough momentum enough I Guess optimism, bullish, pushing. That's what I'd be looking at. 43843 is the upside Gap Fill from the low on Wednesday September 20th.

Now, what could prompt this? Well, it could be a Fed member. It could be a macroeconomic report. It could be a host of earnings. All that could help push it to the upside, but also just to be fair here, if any of those are horrifically bad, well it could cause the breakdown of roughly 428 429 and then we could be testing this downside Target of this trend line and then from there, if that doesn't hold more around 420 422 do I expect that to be happening in the short term.

not in the short term. I would be leaning a little bit more bullish because don't forget, this is an options expiration week. So this Friday a lot of money within the world of options will be expiring and then volatility itself. The vix contracts are going to be rolling over this Wednesday So I think the market is either going to be coasting sideways or drifting upward until at minimum Wednesday and then from there it's just going to be a chaotic party to see how people want to play this options expiration Once again, that all goes down this, but to take a screenshot of the situation of just how things look right now.

Yeah, we've been trending down, but we're starting to see the Bears weaken or another way to put it is obviously the bull strengthen. With all that being said, these are just my own humble opinions. I Would love to get your thoughts in a comment below. Obviously, if you enjoyed this video, smash the like button, don't forget to subscribe I Appreciate your time and I'll catch you in the next one.

Have a beautiful.