's going on moon gang. I hope that you're having an absolutely fantastic day day this is your market wrap up with me matt for today july 28th. It a beautiful beautiful thursday and the reason. I say that is basically because i went full on nancy pelosi in the markets today.

I absolutely crushed it so i want to share those trades with you at the end of the video kind of giving my thought my process my opinions who knows maybe you'll be able to learn something or maybe. I just got absurdly. Lucky beyond that i do want to talk a little bit more about not only just nancy pelosi. But all congress people because we're having a little bit of a development in the world of potential insider trading and the rules about it so i want to get into that i also want to talk about some important macroeconomic updates.

That came out today. What they mean and the ones to look forward to tomorrow. And then we started also talking about huge huge earnings announcements that will definitely have a gigantic impact on the market. But before we get into all that fun stuff don't forget to the like button.

Join up with the moon game by hitting the subscribe button and with that out of the way let's get to it listen i think we have to go now one more. He said. Yes. Sir one uh over the course of your career uh has your husband ever made a stock purchase or sale based on the information.

He's perceived. What are you saying uh over the course of your career. Has your husband. Ever made a stock purchase or sale based on information.

You've received from you no absolutely not no okay absolutely not we don't talk about that don't worry about the semiconductor stocks that he loaded up on right before. We voted on the bill that passed it that would be crazy. Now. It's easy to point fun at nancy pelosi.

But it really is a horrific issue with all congress people not just left not just right all of them they some of these people who you know they're elected by us me you they get paid by tax dollars. They should be serving the greater good and yet they're just wheeling and dealing stocks options crypto. It is crazy. It's a huge problem and what's insane about it is we're in this world where they get to vote themselves on if they should be able to do that like how does no one see the backwards nature of it well it is completely backwards.

But maybe we're making a step in the right direction. Democrats planning legislation to ban stock trading in congress after insider expose widespread wrongdoing. This is ridiculous they're ethics watchdogs and all that generally they don't pay a fine if they do pay a fine. It's not much money.

This is an egregious abuse of power. The fact that they're now considering maybe should we stop it kind of shows. How scummy our politicians. Truly are once again this isn't left this isn't right this is all of them now.

I've talked about this before and i just want to talk a little bit more because i actually have a fear about it going down this way legislation to ban stock trading. I think this is a loophole. We have the facts and figures. They've been doing a lot more options trading.

So i feel like this is going to be one of those scenarios. Where they vote on and they're like look at we voted get rid of stock trading like pat ourselves out on the back and they're just going to be wheeling and dealing options so that's my first gripe. But even if they're like oh okay well no we're actually going to do no trading. Then it gets complicated what about your spouse.

What if you have kids what if you get divorced or what if you get married. When you're in congress. There's a lot of little side cases that i think need to be considered and hey i get it this is america. If people want to trade or invest have at it.

But i think especially when you're in congress. When you have certain information that's not privy to the rest of us. I think there's one simple rule that could fix all of it as of now they can do whatever they want and they have 45 days to report. It and then from there there is a potential scenario in which it takes another 45 days to become publicly visible in the database.

Where they have all the house and senate trades. So as of now as i'm the time. I'm filming this video. There is a completely legal aboveboard way in which it could take 90 days to find out what a congress person bought sold or did anything in between my argument is this let them trade because like whatever what if one of our congress.

People is married to a traitor and that's their job like i don't necessarily want them to lose their job. But this is about fairness and how this what is right what isn't right from a moral perspective are they abusing their power. What about this as a solution. Why not whoever's identified as the congress person their immediate family yadda yadda yadda would if for them to ever place.

A trade. It has to be filed the day before and the trade is executed the next morning at 9 30. I think that's the most fair thing because it's puzzle publicly visible before they actually take the trade. We know the trade's going to occur the very next day.

I think that's a way in which they can almost earn back a little bit of trust from the general public. Because that is being transparent as in i'm trading this tomorrow here's the filing. It's publicly available. And i don't know there if you break.

These rules or something like you get three strikes and you're out you can't trade again. If you make any money the money's retracted because right now. This is a comedic mess and i find the most frustrating thing to be that they're going to vote on it themselves of if they should be able to keep doing the mess up thing. But who knows maybe this is going to get some steps in the right direction.

I just wanted to share what's going on it's just comical our political system is a bunch of freaking clowns speaking about government and clowns and all these important macroeconomic updates. Today. We got the gdp. Report they were expecting q2 initial numbers to be growth of.

03 they were horrendously. Wrong it was a drop of 09. Percent and we kind of knew. It was going to be negative.

Because our government has been going through all these mental gymnastics to tell us that like no no two negative quarters. That's not technically a recession man like we're telling you seriously like you gotta look at the labor market. You gotta look at what's going on with unemployment like super super good. It's become a political tool.

And what's funny is these numbers. We all know that they're kind of being shifted a little bit. So the fact that this is probably a better number than what's going on in reality. And they're already kind of buttering us up to say like totally nodded like no no that's not a recession.

It's crazy crazy crazy gymnastics. I mean we're seeing our government officials like they're becoming the next simone biles. It's insane now before we get more into that just you know tomorrow before the market opens. We have a slew of reports at 8 30.

Another one at 9 45. And then some at 10. The big one would be the pce report. This is another inflation report similar to the cpi pce is actually a little bit more favored by the fed they pay they weight.

It a little bit more obviously they pay attention to both. But the pce matters. More to jerome powell and the rest of the fed. So just understand that that's coming out an hour before the market opens tomorrow and then there's other ones that are all very very important now back to gdp gdp fell 09.

In the second quarter. The second straight decline and a strong recession signal. But remember totally not a recession because the nber decides that and we don't really know what's going on and they're totally not changing it. But i guess inherently the way they changed the definition of transitory.

The now changing the definition of recession because we need to get re elected. But overall the preliminary numbers came in it wasn't good two quarters back to back of economic drawdown and usually and until this exact moment pretty much that was always thought to be a recession. But in real time uh not so good so i'm seeing some breaking news right here. Amazon jumps.

After second quarter revenue tops estimate. So we got some breaking news. Uh looks pretty good amazon reported second quarter results after the belt on thursday eps loss of 20 cents revenue 121 versus 119 amazon crushing it uh currently up it's from 122 all the way to 136 apple their numbers don't come out until 4 30 pm. Eastern by the time you're watching it you can probably google it and find it but positivity there from 157 to 158.

Meta even up meta. Just reported. We should talk about that. But here's really what's going on we're having a solid date.

They at first like just kind of shook off. The overall market of what was going on with gdp and the market ripped rip rip. The spy up one point two five percent. The tech sector.

The queues up one percent. The small cap sector up one point four percent. It was another very very green day at first people were a little bit concerned about this gdp thing that lasted for a couple minutes and everyone decided hey we're going to rip this thing to kingdom come the shorts got squeezed the bears crying right now. And the bulls are on parade.

So here's what happened meta was last night. And it wasn't that good at all in fact. It was negative. I mean medishare slump after disappointing earnings reveal host of headwinds mainly the fact that they are like blowing to the tune of almost three billion dollars on metaverse and they're not really getting much back from it right now obviously people not liking that and if we look at medivh or excuse me meta creating their metaverse.

Today it recovered a little bit up five percent. But it wasn't a big enough drawdown to really shake people out of the rest of the market apple ended up crushing it up 04. But it looks like it's going to have a strong earnings amazon clearly had a strong earnings. It's up 10 on this reaction right now hey we're looking at a scenario.

Where the market might. Continue and if it does my next target on the. Spy is 40950 on the qs. I'd be watching almost 4 12.

We're seeing potentially a bear market rally. We're seeing a lot a lot a lot of strength but overall don't forget to zoom out and understand the type of trend that we're in hey. The party might end soon. I don't see it ending tomorrow because i'm seeing some optimism.

I'm seeing some bullishness. So i don't think the party's gonna end really anytime soon particularly friday. But who knows the pce report comes out if inflation is surprisingly high that could be problematic right now the other thing. The two big things that i'll be watching from the moment that i'm filming this video to market opening are apple's reports it looks like they're going to be good amazon's doing well.

So i think that's gonna pour over the same into apple and then the pce. Report and there's other things coming. Out at 8 30 am. An hour before the market opens.

So right now things are bullish things are moving to the upside. I hope you're making some money and i alluded to it a little bit earlier. But today in my accounts. I i mean i went full on nancy pelosi so early this morning.

I waited for the dip in around 10 10 15. I got some spx calls at 32 um. I got to fill there my limit was 32 40. I got to fill up 32 interactive brokers is pretty solid at that and then i.

Unloaded one at. 6550 one at 66 and one at 6750. So over a 100. Gain which means that i was able to lock in a.

Nice 103k. So that was for the challenge account successfully climbing out of the hole that i got myself into when i got netflix puts last week. But then in the degen account where i let you guys trade for me in the morning crushed that account today and i was able i just basically bought q futures contracts so nq contracts. I rode five all day and was able to lock in a cool like 22k and i had posted that on twitter.

All these trades. If you're interested when i'm getting in when i'm getting out all that stuff is posted on locals if you have any interest you can check that out in the description of the video. But overall. The bulls are crushing it right now the earnings at least what i'm seeing in real time are looking pretty positive.

So i don't think the party's necessarily going to stop. But a little bit of an asterisk a little bit of a caveat pay attention to the inflation report before we really get into the weekend. That's what i have for you hope you enjoyed the video. I'll catch you in the next one have a beautiful day.