Oh brother, Good morning, Good morning, good morning. Welcome back to another episode of the Matt Cor show where you're Matt allbe Kors And hey, maybe our neighbors could be the show and the three of us together. the Mt Cor show. So we're starting a little bit early today.

Congratulations for not getting into Merit Very much appreciate you being on time to class today. Obviously everyone who's late I'll be giving out the merits Feel Free Yourself To give out Dem Merits Everyone gets a Dem Merit pass today. a pass that obviously allows you to sling merits Dem merits Left Right Center if you see someone joining late, if you see someone joining after 8:30 a.m. ET sling out demerits.

If they're coming into chat and you're like dude, you were not here, give out a demerit. That's what we're doing. We're obviously starting early today cuz there's a lot of stuff to talk about. But namely, it's the retail sales report coming out in about 8ish minutes if you're watching this in real time.

On top of that, there's already a Fed speaker who's going on right now. and and then there's two more. today. we have a whole slate of fed speakers today, so that's some stuff going down before the market officially goes Dingy ding ding ding.

On top of that, we have a little bit of a specialty show. You might be able to see it uh, in the corner. Uh, and maybe you just saw it in the title of the video. But um, shout out to today's stream sponsor It's a brand new sponsor and I'm very, very, excited because I have a brand new trading computer.

Super high-end I'm very very excited! So shout out to Meta PCS for now not only sponsoring today's stream, but also being an official partner with the gooni community. So very excited to unbox this. We have a couple boxes here. Brand new computer! uh I feel like a kid on Christmas I'm so excited to get this set up.

So excited to really see how far I can push this thing in terms of computations and all that good stuff. So we're going to be doing a little bit of an unboxing and then obviously we have all the normal stuff that you guys come here for. What's going on in the Middle East What's going on with earnings? What's going on with monetary policy? What's going on in the political scene? We have a lot going down. so I think it's going to be a really, really fun show I Hope you guys are, uh, pretty excited for it I I Hope you're jacked up I'm a little jacked up mayy.

it's because I've already had five shots of espresso I Wish that was being hyperbolic, but it's not I'm legitimately on my fifth shot of espresso this morning I got up I already crushed 150 flights on the stair stepper I'm feeling lean and mean, um, I'm trying to think of any other major updates. Bam Investor blocked me on Twitter It's kind of weird honestly that I call him out Mullen fails. He challenges me to a fight and then he ends up blocking me. So that's a weird drama update If you care about the drama of like Fin Twit I guess I know some of you are drama Centric I Feel like I'm in my own my own world of I guess like The Bachelor version of Fin Twit.

It's just weird drama where old men tell you that they have a model that is more wrong than it is right? In fact, I don't know a single time that it was actually right. and then the stock that he's pumping cuz he owns it and he's trying to get everyone else to buy it. HS Brand new alltime lows and when you call them out, be like hey, that's awful like fight me, fight me. That's that's the world that we're in right now.

so that's a little bit strange. I'm trying to think of anything else Piper has been really good lately. Uh, she still doesn't quite act like a cat. She doesn't jump as much as I thought she would.

Her meowing does not sound like meowing I Don't think another Elder cat ever taught her to prop L meow so she's still figuring that out. She's really not agile like at all. She doesn't have the balance um, the overall agility that I thought a cat would have. Uh, if anything, she she's a little like kind of clunky in her action.

She just kind of flops over. She falls off of stuff all the time so she really didn't get. she really didn't get a lot of the I don't know major genetic gifts that I thought most cats would have. So that's the update of everything going on.

Um, that's basically what you guys need to know: retail sales coming out in about 4 minutes. Then from there we have a lot of updates of what's going on. Uh, Biden potentially going to Israel Weighing that we know Putin is in China So that's the geopolitical scene. We have a grouping of earnings this morning Johnson and Johnson beat Bank of America beat Gman Sachs beat so strong beats across the board.

Uh, after the market closes today, we're going to be hearing from United I Think that they're going to beat because we know Delta beat last week and they're a very similar business. Tomorrow after the market closes, we hear from Tesla and Netflix on a larger scale. I Think what's exciting about tomorrow is it's going to be the options expiration for volatility and I think Really? judging on what's going on in the options market and volatility, The thing that's keeping the market up really is that. so I think there's actually a shot depending on how things start to break.

Of course, there's major breakdown levels in the Spy but if nothing crazy happens between then and then and now. I Think the market can actually be held up unless there's like a break of I don't know, like 425 something like that. Uh, but we could talk about that in more detail. but definitely paying attention to the options Market specific to volatility on Wednesday and then obviously Friday itself is just uh, options expiration, uh of the month and lot of volatility.

Lot of Premium going to get burned up on one side of the other knowing options, market makers. probably both sides are going to get get burned up so we could talk about that. Uh, there's actually a lot of little things to get into. The amount of hilarious things I'm seeing of just I don't know, the Internet is just the internet and just weird things I'm seeing about uh Logan Paul Dylan Danis Tommy Fury uh KSI That's absolutely hilarious seeing hilarious things about AOC Apparently she was giving like a zoom interview or something like that and fed.

so now the internet's dunking on her for that one. Uh, it's just the internet. Feels like it's kind of getting back into like classic internet mode where they just want to dunk on everyone 247. And in all reality, I'm here for it.

I'm 100% here for it. and if I'm being completely honest with you, the main thing I'm trying to do is keep myself distracted between now and this weekend. CU I think unfortunately. Penn State streak is going to come to an end when we play.

Ohio State I Don't want it to happen I'm looking for that Miracle Victory But let's just be honest, over the past 5 to 10 years, Ohio State has put together a better team than Penn State So I'm I'm doing everything I can to not get myself like pre- depressed and preet up, pre- upset I I'm more so trying to just save it for the weekend when I actually see the concluding score like what's the point? like why build up the anxiety now when hey, maybe I'll get lucky. So I'm really just doing everything I can to like forget that whole situation so that's where everything's at. Let me switch this over to what's going on. Uh, I guess maybe most important stock futures slip as Wall Street looks towards busy earnings week.

But really, what's going on in the market right now? the Spy is drifting down a little bit. yields are popping, the dollar is actually coming down, but the tech sector also drifting down. So in the postmarket session yesterday, the pre-market session today, spy qes drifting down as yields are going up. I Cannot articulate how important it is for people to be paying attention to yields ripping, and bonds dipping.

so they're saying earnings, but in reality, the earnings we got this morning were actually pretty good, favoring the Bulls. So obviously there's something else more going on. Uh, we have fed members speaking, but the next thing we're going to be paying attention to is this retail sales. If I were to reload it, it would say in about 1 minute retail sales expectation.

3% core retail sales month over month. 2% So we're looking for3 we're looking for 0. 2 and that should be coming out momentarily and fingers crossed. Fingers crossed.

They have Rick selli reporting this morning. Um, so just I don't know for reference point of where we are. the Spy is currently at 434769. The fact that big banks are saying that it might give us a little bit of an indication of retail sales, but remember, the market is always about not really the magnitude of success or failure in a report.

it's more of the success or failure relative to the expectations. So that's why the expectations are obviously very important of the here we go. Yeah, my thought is we're staircasing an interest rates All treasury yields yesterday traded higher than Friday's highest yields. Today they're trading higher than yesterday's highest.

That's well, the staircasing when you're a technician and it means that the markets are what I call Guns hot So you want to be very careful. interest rates are on the move and that move is higher retail sales hitting the wires for the month of September expecting up 3/10 on Headline more than double up 7/10 of 1% to find a higher number than that. Have to go back January when we up 2.8 although we did have another 710 read in May if we look at an X Autos still very strong, up 610 up 610 Market can be comparison if you look at July July was up 710. Eom reports right now are for the stock market from 437 all strong up 610 and if you look at the control group which goes into other numbers up the economic food chain, it is also up 610 610 are wild now.

Divisions are coming in if you look at headline uh which was 710 last month 610 moves up to 8/10 last month moves up to 910 X autos and gas last month from up 2/10 to up 3/10 and that control number I just gave you which was up 61 from up 1110th last month. so we have much stronger numbers for September August saw positive revisions across the board. Yields are moving higher. We're getting very close to challenging 480 in a 10e.

Currently at 478, it's up seven basis points on the session twoyear which is moving but not nearly as fast which weion out of the curve put more trading 514. that's up four basis points. so we want to continue to keep in mind that all maturities, as I said, are trading higher than yesterday's yields. and should we close above four today, most lik see more.

follow through on for the rest of the week. Andrew Back to you dude, what a guy! Uh, meantime our friend Steve Leeman has also uh been monitoring these numbers. uh making some trying to make some sense of trying to make sense of it. Help us Steve shaking my head here Andrew this is a wow I Want to give you a little here it was the strong consumer spending numbers from June reported on July 18th and if you look back at the 10e going back to that.

That was the beginning of this surge in bonal this reassessment of third quarter growth that all of a sudden uh, we were going to pop here in a big way and we did and it has been maintained for context here, the consumer didn't have to do anything in the month of September to still have that or 4% growth rate now that that number is even higher the the way it worked it June came up and it was a good number July just had to be steady August steady. Instead it keeps going up. They revised up the PRI This is the consumer that just won't quit for reasons people are just not capable of understanding. And it was not gasoline station sales which we expected some strength there instead of was just what was it.

uh just 06 I think I saw it 09 on gas station Sal People expected more than that. but across the board here I'm looking at relative strength, motor vehicles and parts up 1% that was expected. Even that may be a little bit light guys. uh uh.

Retail sales non non non Store retail Internet strong. We don't have a consumer that's going to quit here and I just have to wonder how much of a problem that is for the Federal Reserve And while I do I'm going to look at what happen to the probabilities of R ums, they are a bit stronger for December. And by the way, the new development here is people are starting to take a small gamble that if the FED doesn't hike in December it may hike in January Again, those are these numbers remain below 50% But what I'm noticing now is the probability of a hike is now higher in January than it is in December and it's almost nothing for November. So what's going to happen today guys is I suspect that these GDP tracking forast follow going to be higher as a A Eide down.

Economic reports are bad for the stock market. One question thek there should be a fall off in the fourth quarter question is how much of a Slowdown there is Andrew Okay, Steve uh thank you uh for that smart analysis on the Fly. Appreciate it coming up on the other side of this Gugenheim. Alan Schwarz is going to join us live.

Got a lot to talk to him about pry, but we have some other pressing matters to get to. so retail sales just came out stronger than expected. A stronger economy than expected is currently bad for the stock market because we're fighting inflation, so these beats are obviously putting downward pressure on equities because it's prompting yields to pop bonds to go down. We're also even seeing the dollar tracked by The Dixie dxy the dollar Index Popping on top of that, we do have some other important news: I Want to share with all of you we have earnings Bank of America Locky, Martin Goldman Sachs, Johnson and Johnson they all reported this morning after the market today we have United and interactive brokers and then tomorrow I Think it gets pretty exciting with Tesla and Netflix so keep that in mind.

But first, let's review what went down today: Bank of America's profit tops estimates on trading net interest income so banks are crushing it I Don't think anyone's surprised because yields are Skyhigh and we know that banks are big beneficiaries of higher yield. BFA Traders Reported their best third quarter results in at least a decade. while net interest income top analyst estimates. as the lender continues to reap the benefits of the Fed's rate hikes and volatile markets, we added clients and accounts across all lines of business.

We did this in a healthy but slowing economy that saw us consumers spending still ahead of last year but continuing too slow so the velocity of it slowing down but by magnitude still greater than last year. Bank of America tops profit estimates are better than expected interest income This is pretty much the vibe for all major financial institutions that have a department that is involved with interest. So the EPS was 90 cents when the estimate was 82 and the revenue was 2.32 billion when the expectation was 25.1 14. So Bank of America going the way of JP Morgan Wells City just beaning across the board Gman Sachs tops estimates on stronger than expected bond trading.

Is anyone surprised? The earning was 547 when the expectation was 531, the revenue was 11.82% Media scrutiny, the publicity surrounding it, but uh yeah, no really really interested in I suppose just the music scene and apparently he's kind of being forced into giving that up. Really doesn't have much to do with the company, but just wanted to share that Johnson and Johnson beats on earnings and Hikes Outlook as Medtech pharmaceutical sales surge. So J&J EPS of 266 when the expectation was 252 revenue of 2.35 billion when the estimation was 21.0 4 billion. So you're kind of getting the vibe that across the board a lot of these companies are beating and we kind of got that idea that Trend last week when we really got underway on Thursday and Friday where most of these companies right now at least the major ones that there's a lot of interest in, That's what people are paying attention to.

Um, they're beating. Apple CEO Tim Cook Makes surprise visit to China as iPhone 15 gets off to a challenging start. I Touched on this lightly yesterday. so the fact that we have this update I just wanted to share it but the highlight level view is obviously Apple coming out with a new iPhone and I Guess the iPhone is not doing the best in terms of its sales in China The Apple CEO's visit to the company's third largest market comes just under a month after the iPhone 15.

the company's Flagship smartphone went on sale to seemingly a lukewarm reception. Counterpoint Research said: a note on Tuesday that iPhone 15 series unit sales for the first 17 days of sales in China was down 4.5% compared with the iPhone 14. Not good at all when you are I Mean it might sound small 4.5% but think about what that means for Apple that's billions and billions and billions of dollars. 4.5% is huge to Apple so the it's It's actually such a big deal that the CEO is there talking to them like all right.

Like, what can we do about this whole situation So just wanted to give you the breakdown of all that good stuff. and before we get into an update of what's currently going on in the Middle East So we talked about earnings. We talked about the macroeconomic events. I Also want to let you know about all the different Fed members that are speaking.

So Williams already started speaking at 8: A.m. um I Went through and picked out the major ones I Think it's safe to say that there's some pretty influential Fomc members and then there's some Fed members that, like people, don't really listen to the most. So I went through on this list. This is on locals Ma.

Locals. You can get this for free. Um William Speaking today and really I Just wanted to point out how there's a Fed member speaking every single day of this week. but today there's another one.

I To leave at 9:20 Bowman is speaking at 9:20 and then there might be another one after that. So not only do we have a bunch of macroeconomic events this week, not only do we have a bunch of earnings, not only do we have a bunch of global and Us-based political turmoil, but we also have a lot going on with the Fed So just want to remind you that there's actually multiple Fed members speaking today. All right, coming back to some of that Global Political turmoil Biden Plans High Stakes is real visit to keep war from escalating President Joe Biden Will make a dangerous and politically risky trip to Israel intended to show solidarity with the US's closest Ally in the Middle East and prevent the conflict from engulfing The Wider region. To add a little bit of framework to this, what's going on is we have both Iran and China saying whoa Israel Over responded they like they hit back a little bit too hard.

they shouldn't do that so it's just getting tense. There's a lot of people who are on the outside and hopefully just doesn't break in a manner where the conflict spreads. That's what I think a lot of people in the entire world are very much hoping doesn't happen. So right now Biden was yesterday the news was he was going to visit or he was going to make a decision.

He decided not to. but now this is still obviously a question of the day. Dan What will President Biden try to achieve uh and accomplish during his visit that his top Diplomat hasn't been able to? Well, he's he's trying to basically find a way to deescalate uh, rapidly escalating situation. Um, you know Israel has been poised for a ground invasion of of Gaza for several days now.

There was reporting that it could have been uh, taking place last weekend but was delayed because of the weather. Um, you know we might. We're hearing uh the German Chancellor Olo Schultz might follow um Biden over to his Israel as well. So there's just a renewed diplomatic push uh, a recognition among everyone um in the region in the W wider world that will reaffirm us that expands uh into a regional war that that brings in Iran and other players uh would be devastating.

Um, you know not only for for the Middle East uh but also for the for the wider World d And where are we at when it comes to expectations for the ground offensive, Are we just in sort of waiting mode? Asurans 11, The war It It's just so crazy. Yeah, one of the the big questions is is whether you know there's going to be safe passage out of Gaza into Egypt Um, there's a rapidly developing humanitarian situation there that there's been lots of warnings about the lack of of food and and just um, other necessities for the people of Gaza and you know what happens to them essentially if there is a ground Invasion So there's been warnings um to evacuate uh, the North in particular. Um, this takes time obviously and and there's a lot of concern, um over what happens there. Um, you know there is a thought that as as long as this diplomacy continues blinking in Israel uh, meeting with Netanyahu for for 7 and a half hours uh President Biden now showing up potentially other leaders on the way that as long as this diplomatic push continues and that ground Invasion um, you know won't occur at the same time, that's that's the feeling for now.

So we we have to see kind of how these uh, diplomatic efforts uh, pay off. So as we're going to the next one I Do have another little update. Uh, some of the news that I'm seeing on this whole situation is as much as Egyp Egypt and Jordan are of the opinion that what Israel is doing is wrong I Believe it was announced early this morning that well from the King of Jordan saying Jordan nor Egypt will be accepting any refugees which is I don't know. a little little strange like you're attacking one side like they're literally like they neighbors, like they're they land touching neighbors.

uh and they're like no, no, no, we're not taking any of the Palestinian refugees Putin in China to meet X on rare international trip President Vladimir Putin has arrived in Beijing a rare trip abroad for the Russian leader who has an arrest warrant issued against him by the International Criminal Court for alleged war crimes in Ukraine Putin is expected to attend the belt and Road Forum he set to meet with President xiin ping on Wednesday this I guess maybe this is conspiracy theory that that's fair, but uh, really. I'm trying to bring the conversation back to the whole discussion related to the Israel Saudi normalization. Those talks are now basically done. Unfortunately, we were heading in the right direction, but then because of this attack and Israel's retaliation, the talks are over.

A quick reminder of what that was basically Saudi Arabia would have been able to get nuclear weapons from the US because they don't get along with Iran and they're across them on the Black Sea there and they wanted weapons to protect themselves and in return for that they would give the US oil and also promise not to use the weapons on Israel So Israel would benefit from peace in the neighborhood Saudis would benefit from getting the weapons they want to protect themselves from Iran and then the US would benefit from once again peace in the neighborhood. But on top of that getting a good oil deal that's where the talks were going. The UEA the United uh Emirates Um, they already signed and basically Saudis didn't want to be the first one to sign. but everyone in that region I mean the Kingdom of Saudi Arabia KSA going to be the most powerful one.

So whatever they're saying and whatever they're doing is kind of what's going to be going on in the region. So the United Arab admires the UAE excuse me the UAE they already signed and we were being told from the leaders of Israel, the US and of Saudi Arabia that every day progress was being made so things were looking good. If you want to look more into this kind of talk, look give search Israel Saudi normalization search the Abraham Accords like all very important and stuff for just kind of calming down the tensions in the Middle East which is now obviously the opposite of Comm I mean the talks are over I I Don't know if they'll ever be reborn so think about who would lose in this deal. Well obviously Iran would lose in the deal.

They don't want the Kingdom of Saudi Arabia to have nuclear weapons. Uh so Iran losing out Palestine losing out because that would have more so cered like Israel being in that region and really what they were trying to get going was uh, instead of the three-way deal between the US, Saudi, Arabia and Israel, they more so wanted to deal with Iran Saudi, Arabia and China actually being involved. So bringing that up just kind of connecting it to these current events of Putin's now in China And a lot of this has to do with oil and commodities and just who's who. Ally So it's getting, uh, interesting to say the least.

So I just want to bring this to your attention because who knows where it's going to develop like lock going on. So I I I Do think it's important to kind of stay on top of all of this now. bring it back to specifically today: Tuesday October 17th Um, this is the newsletter. It's free Mac.

Locals.com I Give you my breakdown: uh, all the macroeconomic events, all the major earnings I think you care about and seasonality I Just want to let you know that historically today does favor the Bulls Over the past 25 years, the Bulls have won this day over 61% of the time with a profit factor of 2.22 If you don't know, profit factor means it basically means for every dollar put on the table bet on the table in the bullish Direction how much was returned? Well, the answer is $222 so that's obviously net ahead and that's exactly why the equity curve is a nice just upward line. It's not going to win every time, it wins 61% of the time, but that's still an 11.5% edge. Um, looking ahead to the remainder of the week Wednesday's neutral Thursday's bullish, but not the most bullish it was going up, but the past couple years looking a little bit more rough and then I would argue that Friday is also recently favoring the B so that's the seasonality. but once again, you guys can get this for free.

M. Locals.com Five things to know before that stock market Bell goes dingy ding dingding today Tuesday Moving on up, we have a bunch of earnings. a lot of earnings are beating more big Banks report Goldman be Bank of America beat City beat Wells Fargo beat JP Morgan beat Uh, the only one I know of off the top of my head that actually missed this time around was PNC Biden to Israel So this right here: President Joe Biden is planning to visit Israel tomorrow Wednesday as the Israeli military uh hammers the Gaza ship from the air and thousands of Palestinians flee. So this could definitely crank up the tension levels a couple notches.

so something to pay attention to there obviously. Uh, we'll I'll be giving you any updates on that either in tonight's update video or tomorrow during the stream depending at like when that news actually comes in. But anyway, the Trip's purpose is to stand in solidarity in the face of Hamas's brutal Terror attacks. LinkedIn layoffs Uh so LinkedIn Owned by Microsoft laying off 700 employees kind of going the way of what? I don't know for a bit there it feel like all of these tech companies were just laying people off.

so I guess they're following suit a bit iPhone Charm offensive so we obviously know Tim Cook AKA Tim Apple depending on who you ask. Uh, currently visiting China to try to help that 4.5% lack of sales of the iPhone 15 relative to the iPhone 14. So according to mainstream media, those are the five major things you should know today. I'm of the opinion that maybe there's some more important stuff going on, but hey, that's what Main Stream Media has for you.

Let's quickly check in on the market and see how things are doing. Uh, the market is continuing to die this morning. Basically right here. Let's bring up the 30 minute.

We are very quickly encroaching on the low from yesterday. So yesterday early morning, pretty nice pop. a very nice nice pop and then it pretty much held all day. There was a little bit of a hiccup at 1 p.m.

this only lasted for a little bit so it vomited and then quickly bounced back I myself got whips on in it. It made me angry, made me want to smash my computer. but hey, it is what it is. Uh, this morning things are starting to drift down if you're just joining in.

Now first of all, de Merit obviously you're getting into Merit you're very late to class and you also are missing why the market is going down while you Ys are going up and why the dollar is going up. Retail sales Retail sales was reported at 8:30 A.M ET Today, it came in higher than expected. as in, retail sales were stronger than expected. and that is problematic when you're currently in an economy where the monetary policy is saying whoa, inflation's bad.

we should be fighting that. So when retail sales are that strong, it shows that. Well, maybe the Fed's not doing enough to really dampen demand. So that's why the Market's reacting in a negative way.

because it's increasing the chances that the Federal Reserve will keep rates higher for longer the same. I Guess like adage that a lot of people has been talking about for a while. Uh I Want a demerit? Well congratulations, you got a demerit. We're going to be giving them all out all day.

every day. Just demare demare Demare Demare demare. So the market coming down right now. taking a look at the Spy I I did cover this in the update video by a Show Of hands.

Please Raise Your Hand. How many of you guys saw the update video yesterday? Please Raise your hand. as loudly as you possibly can. um on both Rumble and YouTube I Want you guys to let me know cuz I Kind of went over this in painstaking detail of oh wow.

Rejection Rejection Rejection Rejection rejection. Watch it. Obviously a break above and a close above sets up the upside GA 43843 But until we get that actual close above the 48 or the 50. EMA the Bears are kind of in control.

It depends on your time frame on The Daily time frame I would say the Bears are in control control yesterday. Obviously the Bulls were in control intraday obviously. but I'm just looking for this close to get above the 48/50 EMA this purple line this moving average and it is just not happening. And then when we pair together what just got reported with retail sales when we consider that this is an options expiration week dude it if the if one of the FED members and remember we have a whole slew of Fed members.

but if one fed member just really messes up and doesn't say the right thing if this ends up coming below 432 that sets up 430 and then below that you have this big trend line. Recently we had a liquidity sweep, a fake out breakdown that just didn't hold for that long. They push it back up. but it it's it.

only pushed from what roughly 426 427 to about 437. So it it pushed, but just about $10 and then ran into a very serious wall. Um, so obviously failed breakouts aren't inherent, are inherently bearish. Now, we don't definitively know at this point in time.

We don't know if this is an actual rejection, yet. We are waiting. We are waiting. We are waiting, We are waiting.

Um, so this is what I'm paying attention to is how do we react to this and then also are we actually going to close Above This Gap Fi because it might be one of these things where the market is pushed up, they get the Gap fill, it gets rejected, and then we sell off. So very much paying attention to the upside Gap fill the 48 EMA and then also if it things are smacked. Basically, how does this buy react to the between? We'll call it 428 and 432 this $4 region down here very very much care about the Q's a similar situation, but some important differences. Obviously, the Qes the tech sector did push above the 48 EMA ran right up to this trend line and just didn't have enough velocity.

enough momentum, enough bullishness to keep going. Uh, sold off to the EMA Cloud Bounced a little bit yesterday, but still an inside bar. Uh, the high and the low were within the high and the low of the previous trading bar. So really no Trend I'll be looking for the break out above 37050 or the breakdown below 36644.

Judging on where we are right now, it looks like a breakdown is more likely If so, obviously. I'm looking at the reaction on the daily chart to this: EMA Cloud all these moving averages but below that I'd be watching the low from Friday of 36387 so that's my watch on the spy and the Q's I Think to give you some good indication of which way things are trending. watch the dollar if the dollars continuing to show strength that is not good for equities in inverse relationship and then arguably the same thing with yield. If you see yields ripping which they are looking very strong right now, you could argue that bonds are going down so yields up bonds down.

obviously inverse relationship there. and if yields are continuing to be this strong, that's not going to be good for equities either. Uh I see a lot of people talking about Nvidia So right here it is down 3.4% not holding this trend line I Did put this in the newsletter of How In Video is on my watch list to see how it reacts. It did get this breakout, but we know there's a lot of fake out breakouts.

We know there's a lot of fake out breakdowns so tried to recover yesterday. Judging by what's going on this morning, it's trading at 44450. Uh, obviously this is going to create a gap. There will be an upside Gap fill to 44912 but my next watch would be 432 If it continues to sell.

Just looking at this low and then below that, I'd be watching 410. But obviously this is all short-term stuff in the long term. I'm still a big fan of Nvidia Like if you told me I had to buy Nvidia right now and wait 10, 20, 30 years I'd be perfectly fine with it. So I just want to be clear of like the time frame.

Obviously if you're a day trader, a swing Trader Yeah, things aren't looking the best, but long term I'm still a big fan of Nvidia so understand just I Guess investing long-term stuff is extraordinarily diff. Like, extraordinarily different from short-term stuff. There's a massive, massive difference between actively trading and investing I'm completely completely fine to invest with. Nvidia Of course you want to invest when things are a little bit cheaper, but plus or minus 4050 $100 right now when I fast forward a couple decades on Nvidia I Don't think that's going to make much of a difference.

Um, but anyway. yeah, Nvidia Taking a bit of a hit, it might have to do with what's going on with the chips. Um, remember that in the US we did cover this a little bit. uh, previously.

but in the US we the Biden Administration and really all politicians I Don't even think this is necessarily one-sided kind of a bipartison effort of trying to stop some of these chip makers. these uh, semiconductor companies from selling their top tier chips to countries such as China Um, so that was announced a year ago and then more recently there were evident loopholes on that. so the administration is currently working to do what it can to kind of close up some of those loopholes. so Nvidia not reacting the best to that.

and then when you consider just some of the meetings right now, obviously not really in like, well, I guess in a weird way. in like a Civil War esque way, we're not directly having in conflict with China right now. but it seems like through a lot of backdoor statements and dealings, obviously tensions are high with China Uh, we know that the president of Russia right now Vladimir Putin meeting with President Xi Jinping we know recently China kind of calling out Israel an ally of the US is for going too far. So tensions are, um, a little bit suspect to say the least.

Uh, let's check in on Netflix Remember Netflix reports after the earnings. Uh, after the Bell closes tomorrow I'm still looking at this downside. Gap F to 34138. But who knows, with earnings, if they're blowout numbers, this thing can explode.

If they're bad, it could drop. It's the flip of a coin. 50/50 Tesla is still building out this pennant. This bullish pennant.

Lower highs, higher lows. Just waiting for this to either break to the upside or break to the downside. You got to wait. You got to be patient.

Microsoft Holding this breakout so Microsoft Ripping above its 48 EMA Holding holding holding getting above its trend line that we saw established in July of this year broke out retested showing some strength looking good in my humble opinion Apple looking a bit weaker, lower highs, lower lows. And then when we consider the recent news of just the underwhelming sales, the lackluster sales in China Uh I still long-term think Apple's going to be massively successful, but right now it just might be a little bit like I don't know, a little bit shoppy in the meantime type of a deal. Uh, talking about Bitcoin Yesterday there was a false report from coin Telegraph that the Black Rockis shares Bitcoin spot ETF was approved. It wasn't approved, so for a minute there there was actually a five minute period where Bitcoin ran from 28,000 up to 30,000 Then when it was reported that they're like no, it wasn't approved, it came right back down.

but this morning showing a bit of strength Bitcoin Like it's not as high as it was on the rip. but I it's not like plummeting cuz I think it is just a matter of time before it is approved. Uh, the craziest thing from that whole story is the editor-in chief was actually at a conference, so she talked about the situation a little bit after it happened and she basically blamed everyone else but herself. Be like, oh, we have so much pressure to be first and like it just is what it is like.

Well, maybe you should focus a little bit more on accuracy than proof. But anyway, I did cover that in the update video yesterday I showed the clip of the editor and she from coin Telegraph it It was honestly legitimately embarrassing. It was actually I was like really, really embarrassed that she said that um, Meta similar to some of these other Tech plays got the breakout, came down, came back, did the retest. still showing some strength.

the inade clouds Pointing to the upside, we got higher highs, we got higher lows in the short and medium term and really the long term. I Think Meta is actually looking kind of impressive right now, so shout out to you if you guys have been yellowing Meta, especially if you got in when things were really really rough back here. sub H: Honestly, even if you got in sub 200, you're feeling pretty good about yourself right now. Uh, what other ones have we talked about in a bit Rum going sideways at $5 right now? Um, obviously I'm invested in it I Wish it would pick up.

Uh, the major thing with Rumble was yesterday it was announced that they once again have the streaming rights for the next GOP debate in early November The third GOP Presidential Debate I Believe that one's going to be in Miami it's definitely somewhere in Florida So that was the big announcement and I think some sort of like they partnered up with P publish Square Public Square is that the name of it? um, just another kind of like I I believe they're both kind of branded as like an anti-woke type of company obviously. Rumble In the world of uh, of being a video platform streaming whatnot, all that good stuff. while I I believe it's Public Square was more of, um, like a a retailer like they selling Goods type of a thing. Um, so that's I'm trying to think of what what else is on my watch list.

uh, oil. Let's check out oil really quickly. Oil kind of holding, but if anything, it's right at its moving averages right now so not really decisively breaking out or breaking down. Uh, it was selling off quite a bit, but then the Warren Israel broke out so that spiked it up.

but we're obviously not returning to these highs. Part of the reason for that is Israel itself is not a big oil producer. The fact that oil went up is more so of people are assessing the risk. They're hedging that if the conflict does spread, will that impact oil production will impact oil routes.

Um, like literally the actual delivery routes. So uh, it's up a little bit just on the increased chances that it could spread. But if everything gets resolved and I wouldn't be the most surprised if oil starts to, uh, regain its most recent Direction So just something to pay attention to. especially if you're looking at things like XOM uh, got hit bouncing back a little bit.

Oxy, where's Oxy at? Oxy is actually holding up? Interesting, Oxy is actually holding up way better than than Exxon Uh Exxon Recently doing a deal with what was it? Pioneer um Chevron kind of holding flat. Uh, how are some of these Financial plays doing JP Morgan I mean they're up, but they don't look like amazing Bank of America up but doesn't look amazing City actually kind of coming down now Wells Fargo Okay, so that's the financial sector. We checked the energy sector. The other major sector we kind of already ripped through was the tech sector.

Those are the three sectors I Like personally, really pay attention to I'm not saying those are the three you should pay attention to if you like them great, Check them out. but maybe you're interested in those and some other sectors personally. I Just really pay attention to really Tech That's the main one I'm going to trade I Like the volatility I Like the growth prospects, but in terms of the impact on the overall Market I Feel like it's important to pay attention to energy and financials as well. Sometimes I'll trade energy names I I Rarely trade Financial names but I Definitely pay attention to what's going on in the financial sector just to know what if I'm being being supported by it or if it's working against me.

But you could check out the financial sector with XLF You could check out the energy sector with XLE and you could check out the tech sector with Xlk. Those are the three major ones. I Pay attention to there's other ones. Xlu is utilities.

Xli is Industrials Uh, I'm trying to XLV is Healthcare there's probably I know there's more, but I don't know. just trying to share a little bit more of some insights of maybe the particular ones that you are or aren't interested in. So right now, pre-market things are looking rough. The market is getting hit pretty bad after the retail sales report.

If you're joining in right now, uh, at 8:30 a.m. a little over half an hour ago, we did get the retail sales report. It came in higher than expected, which shows that demand isn't going down as much as the FED wants it. So what's good in terms of an economic report is actually bad for the stock market.

We live in the upside down world as if we're watching stranger things. So the good retail sales report causing yields to go up. Right now, the 10year yield is above 4.8% The dollar is above. It's at 10650 right now.

so yield going up, dollar going up, bonds going down. Equity's going down as of now. In my humble opinion, it looks like things are pretty rough, at least in the very short term. Um, just when I say things are rough, generally that's like shortterm longterm.

It makes sense, like to be a bullish investor. In the long term, the Bulls went out. Uh, in the short term. Obviously, you could have bearish pockets.

You can make money if you're picking it in a shrewd Manner and astute Manner and uh, in a manner in which you're like in control of your risk and reward and really, really paying attention to your risk. And this might be one of those days where as of now, in pre-market it does look like the Bears are in control. but just because we're seeing something in pre-market doesn't mean that's how the day is going to play out. Uh, I've done some pretty extensive exhaustive testing in trying to judge how the intraday performance does based on the pre-market and there's no no correlation whether you're up, down or neutral.

the relationship between the premarket movement and what's happening. from 9:30 to 4: it. it's still pretty much flipping in coin. So I don't want anyone to have recency bias or anchoring thinking that like, oh, the pre-m Market's down.

So that means that today has to be down. Of course it could be down, but I mean just as likely the market could just revert and pop. So uh, I Just want to let you know from a statistical standpoint, if you generic, look at the really good pre-markets or the really bad pre-markets there's not much of an association with the market being really good that day or being really bad that day. Once again, it's about 50/50 Obviously, there's certain circumstances where maybe based on why it's up or down, you could get a continuation.

but speaking in a general sense I Don't think it's mathematically accurate to be making your day bets based on what happens in pre-market so just want to share that with all of you. Um, now that we pretty much ripped through the macroeconomic event, EV We talked a little bit about Fed members. we're going to touch on them more in a second quick, highle view of what's going on in Israel right now and the talks between Russia and China and all that good jazz we talked about earnings I gave you an update on Piper That leads us to something that I'm very, very, very excited about. First of all, shout out to Meta PCS They are now officially partnered up with The Goonies Us and The Goonies are officially partnered up with them.

They're obviously the sponsor of today's stream pin to the top of chat in the description of the video If Whenever you're in the market for a PC I know you're not casually buying a PC every day, but the next time you're looking for a PC I Highly recommend checking out Meta PCS pinned at the top of chat in the description of the video. If you use the code goon, you're going to get some benefits just so everyone knows. Uh, Metap PCS it's they make high NPCs I have mine right here and I figured hey, we're starting early today so why not do a little bit of an unboxing with it? Uh I I I've had this in my room for a bit and I've just been so excited to open it. It's a high-end computer and I'm very very excited to see the type of computations it can handle I have so many software programs that are back testing so many major data points and sometimes when I run it I'm forced to like literally let it run overnight because it might be like a 5 8 10 hour test.

just kind of data mining everything and with this new computer I mean the current one I have is decent but this one this new one. uh, it's definitely way way way more powerful. So I'm excited to get it open. Check it out, get it all hooked up! I I Feel like it's Christmas Honestly? I really, really do So obviously a special shout out to Meta: PCS for not only sponsoring today's stream H but also the start of a new partnership.

So once again folks, when you're in the market for a new computer, check it out! Pinn To the top of chat in the description of the video and with that being said I have some packages and whatnot to open up from Meta PCS They gave me three big boxes here I Want to make sure? uh that? I can I don't know I want to make sure that you guys can see everything properly. so I might need to drop this a little bit. let me know if maybe it's like not properly in view well here I guess the first I Have dangerously someone gave me all these scissors and knives and stuff to get this open. So let's see what we have.

Let's see. let's open this bad boy up. Let's open this bad boy up. Number one: This is going to be a three A three box Endeavor A three box Endeavor What do we have going on here? What do we have going on here? Uh, a sticker right here.

Check that out. Sweet, Sweet sweet. We got the sticker and this is the Metap PC logo obviously sending in one of their hats right there. right there on that side.

Meta PC Awesome, awesome, awesome, awesome. All right. what's in this bad boy? What? What do we have here? I Just hope I don't break anything. Hopefully we're keeping it all together today.

What do we have? What do we have Beacon Mix create? There we go. There's that one. We have a couple boxes I think I'm going to have to do a little bit of putting together and then obviously this is the box for um, the I got the GeForce 4070 on this one. um I guess we could go through all the specs.

So the way I made a lot of these decisions was actually looking into the specific programs that I use for my exensive exhaustive testing in the market. and then I looked into the programs, actually reached out to the people who made the programs and I asked them like hey, what's going to be the best for this So I kind of maximize the efforts not necessarily for gaming. like yeah, I do do gaming but like the extent of the gaming I do is essentially like ruinscape. Really, what I did was reach out to the creators of the software programs I'm like, how do I maximize this so they help me get all this back.

So uh, I I'm like as giddy as a little school girl like feels like it's honestly Christmas for me cuz the amount of hours I'm going to be able to save in testing. Um, it's going to be nice. It's going to be nice. It's going to be nice.

This is going to be the tricky part. This is going to be uh, the tricky part of can you guys see this appropriately I just i' would be so heartbroken if I somehow break this my duck is best way to do this All right. We're getting somewhere. We are getting somewhere.

We're getting somewhere making progress. Hello and welcome aboard the Meta PC's partner program. We would like to introduce you to your new system and give you a brief orientation on how the machine should function. Basic maintenance, setup, and controlling the RGB lightning.

When you receive the system, please contact us so we can set up a call. Well I'll definitely be doing that. Definitely. So we got the 4070, 32 gbits uh, 2 terabytes Elgato i7 dude I'm so excited.

All right, let's see what this looks like. Let's see what this looks like. All right. Maybe just drisk the chance of me somehow breaking this out.

I'm trying so hard to get this look at that you guys can't see the front of it. Really cool here. kind of want to. The front of it is kind of an awesome design.

I Went through this with them. They were really cool with the various designs but here we go here we are. Look at that thing. I'm so excited.

I'm going to put this down on the ground because I Feel like knowing me this go very very poorly. What is this? This is all the lighting, stuff and extra cords? All right. Awesome, awesome, awesome, Awesome! I Don't think you guys could see it the best on the the side there, but it actually has like they engrav like an MK thing on it for me is really really cool. All right.

Well that's it. Obviously I'll be reaching out to the Metap PC team to make sure I get it all set up properly. but I think I know what I'm going to be spending like the next couple days of my life doing getting that set up, getting everything on it and then hopefully letting it rip with some of these. I mean I'm I'm like, particularly excited because there's one program that like I can kind of use it, but I only can use it like right when I'm going to sleep because it takes hours to do the back testing.

It's like very very extensive data mining on the market, but with this computer, it's particularly built to handle that. So I feel like I can finally use the program that I haven't been able to use in Forever that I really really want to and obviously related to just like data mining certain Market signals. so uh, very, very excited to get that going. but obviously shout out to Meta PC uh pinned to the top of chat in the description of the video.

We're now officially partnered with them so it's not just like a singular stream a singular video. the Goon Community we're partnered with them, they're partnered with us I Know computers are not a thing that you're going to be buying every day. So the next time you're in the market for a computer, whether it's for I guess spooky season or if you're doing something for Thanksgiving if you're doing something for Christmas New Year something like that If you just I don't know, spill a coffee on your computer and you finally need a new one. uh, check it out.

Definitely. Uh, definitely definitely worthwhile. Can you live in it? Rob Rob I will be looking into it. Definitely definitely looking into that.

Uh, I'll ask them dude I have stuff all over the place right now. There's a lot of garbage. A lot of garbage. Um, but that's awesome All right.

So maybe by next week I don't want to get uh I don't want to get like too far ahead of myself. but hopefully by next week I hopefully by next week I'll actually be on it, maybe doing the stream from it. ooh I wonder if I could try that I wonder if I should use this for data mining for streaming I'll check it out for both I don't know. Feel like a kid in the candy shop? The data mind sweeper pretty much start a moon game.

Ganger gamer group I could, but I'm also very bad at gaming I'm not like a quality gamer so it's going to be I I'm sure I'll have some games on it because it'll still be. It'll be better to play on that than what I currently have. Oh dude, this Market is dipping. Um hey, if you guys are just yoloing puts overnight, maybe you're really, really benefiting off of this.

Maybe you'll be able to go buy yourself that new computer right now? it's the new R2D2 It's okay. you could be good at games for me I appreciate it. The main thing I do is, um, just log into some old school ruinscape and just start catching some fish chopping some trees. uh simple man, you know I don't need all that craziness I don't I don't need all that craziness at all I think you spit up some cottage cheese.

You're saying this is cottage cheese on my space shirt. Nah that. those are my other shirts where I have cottage cheese. this is just some artsy fartsy shirt.

uh 666 watching on Rumble that's that's not good. Uh I hope either someone joins or someone leaves before we get into that. I have many runscape accounts. Good for you man.

Matt you have some big arms do you work out? I Step I Stair step. Day in and day out there. actually. um, there's a certain committee that is considering renaming the stair stepper after me.

Uh, so very excited. It's not officially decided yet. the committee has not met, but there's um, a very, very, very good chance that we are, uh, going to get the stair stepper ramed renamed after me for the amount that I go on it. How was sober October going dude.

it's so boring dude. all these people who go sober they're like oh I was so life changing I had so much time I felt so much better my skin cleaned up I developed telepathy I could run through walls it it's full of it. You know the biggest issue with all this is it just boring I'm just bored I just sit there bored bored B Board Bor Quitters They are quitters and that's why it's boring They like I don't know. They pitch it to you like you're going to be able to run 10 marathons back to back.

and really it's just boring boring. but I don't know. allegedly it's healthy. it feels like sobriety is just I don't know something being pushed by the big Health industry but we're still going I mean I'm the kind of person that when you start it when you get rocking with it, you can't just quit.

you can't quit halfway through actually. I think I'm over halfway through now. Um, it's only crappy on the weekends like a day like today I wouldn't care CU what it's a Tuesday So I have a lot of like things to do anyway. Um, but Friday and Saturdays in my life are a lot more boring so you necessarily don't need to give me your thoughts and prayers Sunday to Thursday but Friday and Saturday when you're there having a great time ripping your 14th double shot Margarita at a Texas Roadhouse Yeah, give me your thoughts and prayers because I'm the guy who's at that Texas Roadhouse with you but I'm only in my half rack of ribs with what some water.

So as you get to enjoy the full Texas Roadhouse experience there, I am enjoying only a portion of what Texas Roadhouse really has to offer its patrons, so that's where we're at. defin need to drink. come Saturday in Ohio State Yeah, I Uh, I I'm not necessarily feeling the best about like we're We're good this year, like we're highly ranked. It's just the issue is is that arguably, um, arguably that.

oh wait, my apologies I took my allergy pill a bit late this morning. Um, my biggest issue is that maybe Ohio State's just better like we're good, but Ohio State is really good. Michigan is really good Georgia Really good didn't Notre Dame Just who did they just beat USC or something? Who did they beat that? It was kind of a blowout. There's like my point is, just there's some really good teams and we're good I Just don't know if we're in that like the top tier.

Um, and as much as people talk about how great the SEC is, the Big 10 and specifically the Big 10, East, it's just stacked. The Big 10 East has Ohio Michigan and Penn State Like, come on, and people try to say that like the big 10 isn't like a top tier League I think there's I Legitimately think there's an argument to be made that the Big 10 is actually the most competitive league out of all leagues including the SEC especially this year I Know if you rewind a hand full of years when you have Georgia Alabama I mean Clemson can be super good? Uh, just like in the Southeast in general I Know there's a couple leagues there I Understand how they got the hype, but I feel like a lot of analysts just kind of like push the Big 10 to the side and I I just don't get it. I I think I think this year the Big 10 is proving to be the most competitive league Michigan Still sucks Daryl I'm right there with you. They're really good at football, but as general sentiment goes for, Michigan Yeah, they definitely still suck.

USC Is that who Notre Dame beat I Didn't realize how old that quarterback is uh, the quarterback for Notre Dame whatever he is whatever his name is that good-looking dude with dark hair I was just reading that in college he was playing when 17 of the current NFL quarterbacks were playing in college with him. so I don't know if he just started late or if he had like you could do weird things like with kind of like pushing off or I don't know if he was military I Don't know what it is, but he's definitely older than you would expect. Like most people his a like. Literally, there's 17 people quarterbacks in the NFL right now that played with this guy in college.

more Than half more than half of NFL quarterbacks played with this dude in college. um Sam Hartman he's on Netflix special Qb1 how is he in college at 27 like what did he do? He's a grad transfer, so was he just not playing football I don't understand how you could pull that off. and I know there's weird things. He's like, no, he's older than 24 King Kyle I'm pretty sure he's like 27 28.

his parents held him back he played with Joe Montana I'm pretty sure he actually I think he uh, he coached Joe Montana An personally. oh jeez, he's 24 Really? Michigan sucks Mike from Michigan Shout out Mike he's 24 I thought he was older. Hey I'm a I'm not a person. You know how there's people out there who like, just arbitrarily know all sports facts.

I'm not one of those people. So if you guys are telling me wrong, there's a really, really good chance. I'm wrong I am not a person who Stakes my identity Unknowing Football facts Matt Kors his birthday I'm his birthday Matt Kors is his birthday I don't know exactly how that works but I I'll take it I'll appre I'll I'll run with that m is pretty funny no offense Iowa has better chance of getting into the Big 10 Championship now than PSU it might statistically, but that's not because I was a better team, it's because the way the league, divisions, and playoffs are set up of like who beating who like there is a weird scenario if like if it's like a rock paper scissors shoot thing like if Michigan beats Penn State Penn State beats Ohio State and Ohio State beats Michigan. Yeah there there's a chance like that that could go that way.

but it's not. Once again because of like the quality of the team, it's because of the way the leagues, the divisions, and the playoffs all work. But I mean I Don't think anyone's really arguing that Iowa is better than Penn State Michigan or Ohio State. It's just because like the Big 10 East is just stacked.

It's absolutely stacked. Uh, my first year in college I was a 32-year-old Married with Children living in the dorm was easier than going home every day. That's interesting. That's a big decision.

Matt Is there any news today? Lot of news today opened up a brand new computer that I'm going to be getting set up. Very excited about that. Shout out to Meta PCS pinned to the top of chat in the description of the video video. We got retail sales at 8:30 this morning.

Came in higher than expected. Thus the Market's dropping because yields are popping and so is the dollar. Uh, actually I mean you could see the spy and the cues right now they are getting slaughtered. Not a good situation if you.

YOLO calls for the breakout. I I Feel for you because especially if you had like one DTE yesterday as in zero DTE today. Um, the fact that this is now down. it was up 1% yesterday.

Now it's down .67 I Mean you're probably going to be down like 80 or 90% on your position because of this dip. So if you y load calls I I I Definitely feel for you I I Definitely feel for you. Uh, the Q's getting rocked yields Ripping Dollar ripping things are not looking the most Bueno In the overall Market situation, the fact that the 10-year yield is above 4.8% I Honestly, this might be crazy. it's a crazy call out, but I really wouldn't be that surprised if it happens if the 10year yield gets above 5% Uh, before this whole I guess current phase is over, uh Sam Hartman is 27 computer said Sam Hartman Well so is this guy.

Is he 27 or is he 24? How old is he Sam Hartman Now you guys are making me look it up. Um, it's Sam Hartman noted it says 24 on um says he was born in 1999 who was the co- MVP of the Gator Bowl who was the MVP of the Gasparilla Bowl He's currently the quarterback unknown or Dame So he went to Wake Force from 2018 to 2022. but before that he was in Davidson Day School 2017 and then he was also in Oceanside Collegiate Academy I Don't get this guy's educational background at all. Davidson Day School Wake Force for four years I Don't I don't know.

Bo Nicks is apparently 23. Why are so many of these quarterbacks like older than your normal College age people? he's older than eight current NFL Quarterbacks that's crazy. Oh well. maybe more importantly.

D Ding ding ding. The casino is open. Best of luck to all. Play responsibly if not have fun