To the thunderdome kids the market is about to go crazy. I pray you are are watching this video before the market opens on wednesday july 13th. Because this is very very timely stuff you got to watch the full video. We're gonna be talking about the overall market and why i very much think we're about to have crazy volatility tomorrow.

Yes. It could end up being bullish and the market could rippity rip rip rip. But right now. What the market is pricing in is the exact opposite they're pricing in we're about to dip it dip dip dip potentially to the depths of hell.

So i want to do some support levels. But i also want to call the report you need to pay attention to and where the lines in the sand truly are i also want to talk a little bit about what in the world is going on with amc and gme. Because even though. The market is red red red those two are green green green.

So i want to share interesting updates that relate to both of those with all that being said if you enjoy this type of content. It would be awesome. If you could help me out with the algorithm by destroying the like button leaving a comment and if you haven't already join up with the moon gang by hitting the subscribe button now let's rock now. I don't want to be one of those content creators that puts all the important stuff at the end of the video.

So you watch it all so right out of the gate. I want to give you my most compelling piece of evidence that the stock market. The overall market is about to take a swift kick to the nut sack here you go if it's the former where are we may already be near a bottom well look. I think we're near a bottom.

I think that everyone's cutting their price targets. I think that people are getting their arms around the idea that the quarter is going to be horrible and then when the quarters come out and the forecast isn't that good i don't think there'll be that much more downside. I mean we've been going down since no if it's the four. There you have it our boy jimbo kramer said.

We're near bottom not much more to go. And if you know anything about kramer. You basically know he has signed the death warrant pretty much on capitalism. This will most likely make the entire market capitulate lower and lower and lower.

So there's my most compelling piece of evidence of why the market might take a big hit tomorrow. But let's get into some other things just for those of you who are curious the s p. 500. Did nothing pretty much all day and then vomited into close and this is.

Important but for one second just so you know that dropped. 09 the queues were down. 1 and the small cap sector was down 03. Yes amc and gme were.

Green which is awesome because everything else was red amc was up 435 gme was up 54. I have more information related to those. But first let's talk about the overall market. Tomorrow we will have the cpi report this comes out at 8 30 am et.

An hour before the market opens. The cpi consumer price index it's an inflationary report that's basically saying how much does it cost increase on a relative basis. Whether month over month or year or year to buy stuff to be a consumer. This report is important because yes.

There's going to be a lot of media. But also the fed will be looking at it especially at the end of july. When they're going to be deciding the next rate hike cycle. Because remember inflation is awful.

We're at a four decade high and they're doing what they can about battle it and right now the line in the sand is at a sky high 88. Percent. Even if we come in line. This is crazy crazy high.

We have not had a reading like that this year. This is going to be bad if we hit it obviously we could come in hotter. Which is worse inflation would be worse than we expect or we could come in a little bit cooler and on top of it. The report is much more than this number.

There are other things in it and i'll be going over it during the live stream tomorrow. But i just want you to know where the line in the sand is at for the cpi report that comes out at 8. 30 am. Et.

An hour before the market opens. Now what i want to point out to you is some similarities. I was seeing in the chart today. If you go back to the june time period early june.

Right about here. And i'm talking about. June. 9th.

June. 10th the report came out at 8. 30 am. On june 10th.

This was the last cpi report look at what happened the day before right around 2 2. 15. 2 30. We sold off into close.

We went flat flat flat. The report comes out at 8 30. We sold off then throughout the day it sold off abruptly in the morning. Then we were pretty much flat and then it gapped down again now am i saying that's what's gonna happen again this time no.

But i do want to point out once again these similarities around 2 2. 15 2 30. We sold off in a close so if history were to repeat. Which i'm not saying it has to but if you just remember that kramer said we're near bottom so we're probably not near bottom.

I would be looking for this to be flat flat flat. The report comes out at 8 30. Especially if we get hotter than expected inflation. We could sell and the market could open.

We could sell very quickly coast. Most of the day and then gap down once again. I'm not saying that has happened i'm just pointing out the similarities of the last time. We were getting the cpi report.

And what we're seeing right now. Because the day leading up to it looks oddly oddly similar and just even if you look at the daily chart the last time we got it on the daily chart. The spy was consolidating then we sold gapped sold gapped this time not as nice of consolidation. But heading into close we're selling off and i'm just curious if we're actually going to get that gap down now once again.

The cpi report can easily come in cooler than expected. People might like that and be like yeah. The fed and the government have everything under control don't worry what's going on with europe don't worry what's going on with china and india we're good to go and it could completely rip. I just want you to be aware of obviously the various scenarios also just so you know this isn't the only thing going on this week later on on friday.

We get the retail sales. Which is probably important and you should be paying attention to that the other thing that happened today before the market closed was we got commentary from the richmond fed. President tom barkin. Barking expectation is for another elevated cpi report that's not so good and in fact.

It wasn't just. The fed in fact we got that commentary literally from our own government. Today. Biden says.

China is a real problem. He said. That and then the other one that we just got was right here expected. New cpi data to be highly elevated according to the press secretary.

So you have the fed and the government saying hey expect it to be really high now the line in the sand of 88. Is already high so are they saying to us of like no actually expect higher than that or just expect something in line and that's up to you to interpret and i mean i wish i knew i wish i could tell the future. But you have the fed and the government days before the report. The day before the report saying.

No you need to be like very ready for elevated numbers. Barkin also said today would take seriously a negative second quarter gdp reading just so you know when we get to the end of the month. They're going to have the fomc meeting. But they're also going to be giving us the preliminary results for q2 of gdp.

The reason. This is important is because q1 was negative our gdp shrunk and if you have two quarters of that in a row. That's the definition of a recession. But it gets a little bit more complicated than that because two quarters in a row of gdp retraction.

Okay that's a recession. But when you add on high inflation well now you're in a scenario. Known as stagflation. Which is no bueno.

So he's paying close attention to that and he's open to a 50 or 75 bips in july. There's no meeting in august. Just so you know unless. There's an emergency one.

But just to put some numbers to it as of now before the cpi report comes out there's about a 10 percent chance of a 75 bips rate hike and a 10 excuse. Me. A 90 percent chance of a 75 bips rate hike and a 10 chance of a 100 bips aka one percent rate hike. I'm highly expecting these numbers to dramatically change after we get the cpi report tomorrow.

I just want to give you a little snapshot of what it looks like now before we get that report that it seems like everyone in the world and their grandma is actually waiting on it's going to be crazy in terms of the overall market. I could see it going one of two ways a bullish scenario. I'd be looking for a breakout of 380 550. And then maybe a test of somewhere between 390 391 that's my bold case scenario.

Which i think is the lesser likely of the two scenarios in reality maybe i'm a little bit pessimistic. But sending the similarities that we had in june with the last cpi report comparing those to right now well today. We broke down below the previous day's low for the second this time. We bounced off of now the june 6 low.

So okay maybe a little bit of support there but we did breach the previous day's low. I'll be watching this at 380 from there i'm kind of watching 375 ish in reality. If that snaps and doesn't hold i'll watch 376. But then i'll probably end up watching 373 those are my levels.

And if we get really. Bad i'd be looking for the gap filled to 36938. But that's a pretty bearish scenario from a technical perspective. I also want to point out how the macd on the one day chart is having less and less bullish momentum.

And if we have an awful day. It could officially turn bearish once again similar to what we saw back here. Less and less bullish officially turned bearish and we continue to sell sell sell does it have to does this mean definitively. It has to sell absolutely not i just once again want you to be prepared so right now in the short term.

There's clearly a lot of pressure on the market between inflation. The energy crisis. The food crisis. What's going on with china and india what's going on with europe.

What's going on with russia and ukraine. There's a lot. I mean right now we have the yields spiking and the two year going down in the ten year there's various things we're seeing craziness in the bonds market. The yield market does any of that mean something definitively has to happen.

No that's not how the market works. There's no such thing as ever as a guarantee in the market. The best thing you could do is okay. What is the likelihood of a particular trend and if you like that likelihood you attempt to play that trend and you keep your risk at a reasonable level never let something go past it and i understand that's the tough part it's way easier said than done.

It's just like really the classic nature of can you be disciplined enough to stick to the plan. You told yourself you're going to be stick to trust me that's the hardest part. But if you can get there you are on your way to being a highly profitable trader now with all this being said. The markets.

Red red red yada yada yada doom and gloom. But amc and jamie were in the green green green well we do have some exciting fundamental developments. I would argue with both so gme officially their nft platform their nft marketplace has launched and right here for gamers. Creators collectors and community members to buy sell trade and create nfts.

I think. This is a very natural partnership with the world of games and particularly buying and selling in game gear and skins. I think nfts naturally fit there so i'm excited for that to take off and i'm not the only one gamestop's nft marketplace. Surpassed 1 million.

Over a thousand 2018 in volume in the last 24 hours. It took one day for gme's marketplace to make 1 million to me that is awesome awesome news. Just so you know at the time that i'm filming this gme has a short interest roughly in the range of 23 now moving on to amc this is from the ceo this was amc's most attended highest grossing weekend in 2022 more than 59. Million guests joined us globally in missions revenue about doubled.

The same weekend in 2021. And 12 above 2019. Pre. Pandemic levels.

That is ridiculously good. The box office. This year. Is doing better than the pre pandemic period in 2019 at least on this weekend.

And we are trending in a nice. Direction so 2021 in total the box office gross was 44. Let's just call it 9. Billion we're halfway through the year and we're already at 42.

So we are clearly clearly outpacing what we saw in 2021 will we beat 2019 numbers this year most likely not but we were setting up for that to be a very very real profit like possibility in 2023 and we're also very close in terms of ebitda going positive as a company. So i love to hear that very quickly just so you can get some charts off in terms of amc. We perfectly tap this region. I've been talking about 1620 to 1720 as the level and look at this we hit 1614 today.

This is the level of supply. I'm most concerned with i want to see that breakout and then from there i will draw the next levels of resistance. But i want to see amc battle out there and in terms of gme. I want this breakout of 142 143.

And then a test of 152 now in terms of other companies you have to know we are kicking off earnings season. Today. Pepsico reported early and they had a good earnings uh. I would expect now the same with coca cola later on in the earnings season session.

This is going to last about another three weeks tomorrow not only do we get the cpi report. But you get delta so from there you're pretty much going to know how united and southwest will fare and then at the end of the week. We get a lot of banks jp morgan morgan stanley wells fargo city blackrock pnc bny melon a lot of banks. We're gonna get an idea.

How the financial sector is doing so right now you're getting the general understanding that there's a lot of volatility. A lot of movement a lot of things to pay attention to it's an exciting time in the market and if you're paying attention to it there's gonna be big vulnerable trends. Which means potential to make a lot of money if you're on the right side of the trend. So i hope you enjoy this video pay attention to the stream in the morning.

Because i'll be streaming the cpi report. The market's reaction to it and then obviously when the time is appropriate. I'll give a wrap up of everything that was said wasn't said and my opinions on what it means for all of us moving forward in the next couple training days. It's still on top of the overall market.

I find it incredibly fascinating. The success of amc and jimmy running into these headwinds yet still producing pretty solid nice green days. Obviously with all that being said i would love to get your thoughts on individual equities. And the overall market in a comment below.

I hope you enjoy the video and i'll catch you in the next one have a beautiful day.