Well, well, well fancy meeting you here, especially on this very red bloody Day within the old stock market. Another day is coming gone, and yes, another day where clearly the Bears have actually been pretty victorious in this video I Want to break down everything that's going on and we have to go over some technical updates, some price action updates, and some earnings because we just got some major ones namely Amazon Intel I will be reviewing Meta. But most importantly I want to be breaking down what to pay attention to in the short term because we have some major things coming down the pipeline that will clearly have a massive influence on what will be happening in the old stock market next. But before we get into all that, if you enjoy this type of daily update content, let me know by Smashing the like button and hopefully I can earn your subscription today.

With that being said, let's rock. Here's the major headline for today: Thursday October 26th NASDAQ loses more than 1% on Thursday sliding deeper into correction territory AKA The Bear Camp is continuing to win as it has for pretty much the past month or two at this point. And for those of you who want to know the heat map of the S&P 500 Yeah, the tech sector as you can see from all of this red was not having a good day. Now obviously if you were yoloing puts you had a pretty enjoyable day.

but for people who are just doing investing the green sector I guess you could argue was real estate a little bit of financials kind of down here. utilities, basic materials but other than that it was kind of that. Christmas Vibe or if it wasn't it was just more of that Valentine's Day Vibe of just straight up red I myself did not degenerately play puts because that's not the phase I'm in every month I like to switch up what I'm doing and this particular month this particular go around really for my mental sand and D I've been trying to take a little bit more of an easy and instead of going going long on calls and long on puts I've been selling premium. So even though I didn't degenerately go long on puts today I did decide to YOLO into some call Credit spreads that ended up paying out very very nicely so early this morning.

if you were paying attention to the stream, for those of you who don't know, I do stream Monday to Friday 9: to 11: in the morning I called out a call Credit spread on the Spy 418 by 419 full profit if it was below 418. obviously checking in on that. the Spy concluded the day at 41255. that is so bad but obviously below 418 so that one ended up hitting the other, one was on the Q's another call Credit spread 351 by 352 so I got Max profit if it was below 351 and just for the sanity check there.

it ended the day at 34366 so obviously that one hit as well. and this actually brings the running zero DTE premium selling strategy up to a pretty impressive win streak of 18 out of 18. If we can conclude tomorrow, two more trades, we will have two weeks of zero DTE trading Perfection Hopefully it hits I don't know it's going to be crazy day cuz we have various things that I'll be going over in the remainder of this video. But one more day and we can actually say two weeks of perfection.

Obviously fingers crossed. Now with that in mind, the S&P 500 is on the verge of a technical breakdown. Here's the cell signal to watch for I read it I Didn't think it was that impressive. It basically was talking about the 417 level.

If we break below and close below 417, that article was saying Look Out Below might be true in the long term, might not be might be true in the medium term. might not. Your guess is as good as mine. but in the very, very short term, here's what I want to talk about.

Basically, the market ended up closing below. A pretty important support of 414 is in post market right now. It's ring back. That's because of the success of Amazon and Intel I'll be covering that in a second.

But overall, this was a pretty negative close and my next major level of support is around 410. So I'm watching 410 and obviously tomorrow I'll be watching today's low of 41160. On the flip side, if the overall Market the S&P 500 can recapture 414, then I'll be looking to see how it reacts not only to today's high, but a previous important level. An important technical support that now might be resistance and also what that article is talking about.

Of the technical breakdown of 417 above 417, I Think there's a pretty good shot of the Spy once again retesting 420. Now, what can actually impact this? There are various things to be paying attention to. right off the bat. we need to talk about yields.

So if you go to trading View and you type in Us10y, this is the 10-year yield. Remember, yields and bonds move inversely, so if yields are shooting up, bonds will be going down. If yields remain strong, that will put downward pressure on the equity's market. So right now, yields are pretty strong.

Little bit of a breather today, but overall pretty strong if this keeps going, especially if it holds above 5% No bueno for the stock market, so pay attention to yields. The other thing you can pay attention to is the dollar. Index. Once again, the stronger the dollar Index is the more downward pressure on Equity.

So if we're in a situation where you see yields ripping and the dollar ripping, you can pretty much bet that there's going to be some downward motion in the equities market and vice versa if the dollars, vomiting and yields are vomiting, you could bet that the old stock market is actually going to the upside. The last thing that I just want you to pay attention to is the volatility. VI Vix is the actual volatility of the S&P 500. and I Just want to point out how even though it's been bullish ever since about midt, we're going up and up and up it.

It's every time it Peaks its head up, it gets hit pretty hard. Got up to 21 smack, got up to 22 smack, got up to 22 smack. So once again, if this is going up, probably the Market's going down. That's literally what we're seeing here.

But once again, just pay attention to this. So if you are paying attention to the Spy, that's good. But understand how some of the larger macroeconomic things are going to be related here. pay attention to yields, pay attention to what is going on with the dollar dxy the dollar Index And also, you can look at volatility if volatility is creeping up and holding up if yields are creeping up and holding up if the dollar is creeping up and holding up.

If those three things are happening, you can be pretty confident that the market is not only continuing to get smoked, but might get smoked even worse. Now in the short term there, there's a lot of important things to pay attention to that might suggest are we keep going to go up in all those ones, pushing the market down or vice versa. Here's what will be moving the needle in the short term this morning: I Hope you're watching this on Thursday If you're not, you're late to the show. These are daily updates.

But anyway Thursday October 26th An hour before the market opened, we got a GDP update US Economy grew at 4.9% PACE last quarter fastest since 2021. Even though this is good, they were predicting around 4.7 As in it grew more than expected and that might sound good to you. But don't forget the current phase of monetary policy is attempting to Less in demand. So when we get reports suggesting that things are growing more rapidly than expecting, you could also mean that Jerome Pal Daddy of the Fed, the person in control of the money printer.

Well, maybe his efforts to dampen demand haven't been so good. So even though this was a quote unquote, good economic report and the initial Market's reaction was positive. Well, as I just showed you the market got smoked today and that makes sense because good economic reports are now having a negative impact on the stock market and vice versa. Bad economic reports actually push it to the upside because everyone is trying to bet what is going on with the FED fund rate.

We get the next Fed fund rate decision as in the Fomc meeting Wednesday November 1st 2 P.m. as of now, there's a 96% chance that there's no change. We'll be hanging out at the already established 5.25 5% There's a 4% chance that they might lower it if I was a betting man and I am a betting man. I Think we're going to stay at 5.25 and if there is another rate increase or drop or anything like that, it'll come in December So we'll stay tuned for there.

So that's next week. And also next week we get the unemployment report. uh on Friday But to conclude this week Friday October 27th we get the next inflation report, the personal consumption expenditures also known as the Pce report. This is similar to the CPI report, but it's a little bit more Broad in the data that it's capturing, and it's also a little bit more timely.

Not as many lagging factors within this report, and because of that, there are Fed members who have stated that they actually weigh this one a little bit more heavily than the CPI report. But anyway, this is coming out an hour before the Market opens tomorrow. Friday October 27th obviously I'll be streaming it I'll start the show early and I want to talk about that here so you get a better idea of what to expect tomorrow. These vertical lines on the screen right now are the last 10 Pce report days.

so I looked at them all and I just kind of did some big brain. Jimmy Neutron stuff to try to figure out if I can find a pattern And here's what I found for you Relative to today's close, you might be thinking what are the chances of a gap up or gap down as in does the price open up higher or lower relative to today's close? Over the last 10, six were Gap UPS four were Gap Downs so slightly better than 50/50 slightly favoring the Bulls but nothing too special. Then I looked at the day itself the day of the Pce report. Is it a red day or a Green Day Interesting, 8 out of 10 were green, so maybe favoring the Bulls a little bit more.

But what's interesting is the two red days were actually the most two recent on. so it's like okay, is there an issue now? Is something changing cuz we're getting closer to the end of the Fed rate cycle so little the odds seem good, but when you consider the placement of the two red ones, that makes me a little bit concerned. So then I dug even deeper to try to figure out is there any pattern any matches between the previous trading day and then the actual PC day as in red versus green, green versus red or green to green red to Red like just trying to match it up and I noticed out of the last 10, seven out of the 10 were switches. So for example, today was a red day I would consider tomorrow if it were a Green Day that would be a switch.

So 7even out of 10 were switches. So I would say that the Bulls are slightly favored because seven out of the 10 were switches today was red, so that would technically favor a switch if I look at red or green, eight out of 10 were green I know the last two recent ones were red, but slightly favoring the Bulls and then in terms of Gap up and gap down, slightly favoring the Bulls once again. So there's three different things here, none of which I would personally consider like Standalone to be compelling. but when we mix them all together I would argue that the Bulls do have a slight Edge And there's another reason that now because of some earnings and also because the season ity, it makes me comfortable and saying yes, I Do believe tomorrow we'll favor the Bulls just not at a massive degree.

So I think the Bulls are favored, but not with absurd amounts of confidence if that makes sense. So to better explain this, yes, we're talking about earnings. So right now as I started filming this, Amazon came out with their earnings Intel came out with their earnings and yesterday after the market closed, Meta came out with their earnings. So I want to talk about those three very, very quickly.

So first of all, for yesterday, Meta, if you looked at its earnings, it beat on all major key performance indicators all Kpis. The reason Meta ended up down was not because of how it performed in the last quarter, but because of the futur looking guidance. Remember, the stock market is a game of prediction of what's going to happen in the future, not what's already played out in the past. Meta shares dip.

Following cautious commentary about unrest in the Middle East Meta shares fell Thursday a day after the company released strong third quarter result, but offered cautious comments about the impact of the ongoing conflicts in the Middle East Shar a Meta initially Rose after the report, but when the Meta's finance Chief warned analyst about unpredictability in the Middle East the stock erased its gains. So yes, it went up on the initial report, but by the time we got to the earnings call, it ended up getting erased because once again, the stock market is a futur looking organism doesn't really care too too much about what's happened in the past. Speaking of earnings, we have to talk about Amzn I'm talking about Jeff Bezos's brainchild. Amazon Here are the exact numbers from Amazon's earnings report.

The net sales for Q3 were 143.5 billion when the estimate was 141.5 6. So clearly beating the EPS was 94 cents when the estimate was 81 cents. A beat. The only thing that was actually a Miss was particularly the net sales for AWS Its Cloud business sector coming in at 23.0 6 billion when the estimate was 23.13 billion.

So a beat but not a beat. Clearly across the boards, another company that is initially reacting very positive is Intel another company in the world of processing chips so in competition with Nvidia AMD and the likes there of the semiconductors, the revenue 14.2 billion when the estimate was 13.54% try to hold up but then things got weird with Google cuz that was a complete Miss Snapchat not reacting. Really the best meta beat but then the market didn't like what its guidance was and then this time around we have Amazon and Intel at least on the report side beating. but I'm filming this before the guidance comes out.

so who knows where it's going to open up tomorrow. So right now kind of a convoluted mix bag, so please pay attention to the ones coming out in the future. Next week or two I'm talking about Apple and Nvidia other major Tech names to pay attention to cuz it's the quote unquote. Magnificent 7 that's really keeping up the market.

or at least as of now because it's safe to say that all those summertime gains have been fully erased moving forward. Don't forget to sign up for the newsletter Mcor Locals.com Not only is this where you can get the newsletter, but this is where I post all those zero DTE degenerate option trades. but I do want to let you know and this is all out for free. The seasonality of Friday October 27th.

it does favor the Bol So over the past 25 years, very nice Equity curve. The B have won this day just below 2/3 of the time. so better than flipping a coin. and the profit factor is a scorchingly high 3.2 Now is this a guarantee that it plays out? No.

the Bulls have won about 2third of the time. But if you were to take this bet year-over-year on this particular day, yes, it would pay to be a bull. So I just want to let you know about that as we're waiting to see how not only the overall Market but particularly the tech sector really reacts to what's going on with Amazon and Intel considering all the other Tech names that have been reported now with the Spy I do want to just point out these levels that I talked about, but since we're talking about the cues, I just want to let you know that today it actually closed below a very important level and maybe it's a fake out breakdown. Maybe we get a recovery and I guess I'll believe it a little bit if the cues get above and close above 350.

But for now I just kind of want to give you a little bit of cautionary warning of some serious weakness within the tech sector. something we actually haven't seen in quite a while. so just want to point that out to you. And just as a little bit of a bonus for making it to this point in the video, some crazy news related to Crypto and particularly SPF SPF takes stand in reminder of Crypto's epic fail so allegedly don't want to get sued here.

Basically, the guy who orchestrated potentially one of the largest financial scams crimes of all time. Interesting line of defense coming out of court today. just in SPF says he believed it was legal to take FTX customer funds through Alam research. so he he thought it was okay to take all the customer funds off of an exchange and use it for his own YOLO Trading Interesting line of defense and when that doesn't work, you got to blame someone else.

The tldr of Spf's defense is that Sam was simply following the advice of bad legal counsil specifically Dan Friberg's Bad Legal Council and in times of crazy rapid growth, he was actually the victim of his own success by relying on incorrect information. I'm sure he's winning over a bunch of fans. it's really he's he's the true victim here. It's not the fact that he stole billions of from people and did things that were on the surface level, so obviously illegal.

A six-year-old would know it. It's not that it's he was just so successfully got bad advice and that's what it is. It wasn't that he perpetrated potentially allegedly one of the largest financial crimes of all time. Anyway, that's what I have for you today.

Good luck wrapping up the week. Probably going to be a crazy day with all the earnings. With what in the world is going on with all the inflation, what's going on in the Middle East There's a lot of things that could cause the market to rip to the upside or complet completely plummet to the downside. So please pay attention and please keep your risk in control.

I Appreciate you stopping by I Hope you enjoyed the video I'll catch you in the next one. Have a great day Bye.