's going on moon gang. I hope you're having a fantastic weekend day morning morning night evening afternoon. I don't know what time you're watching it i hope you're having a really good one this video is going to be a little bit of a breakdown of what happened in the market recently. But more so what i'm looking forward to in the market coming up this week.

It is sunday july 10th. Just so you know we're going to be talking about the overall market. Some individual equities. We have some interesting news related to twitter amc.

So i'll be getting into that but i also want to give you some callouts of major economic events to pay attention to for this upcoming week now before we get into all that if you enjoy this type of content. If you want to help me out the algorithm don't forget to drop a like button and join up with the moon game by hitting the subscribe button. I appreciate it now with all that out of the way. Let's get to it when the bell went digging ding ding ding to close out the day on friday july 8th.

It was another green day in fact the s p 500. Had one two three four five six green days in a row. Which is pretty nice. But we're kind of just back to where we were at the end of june.

We had a nice pop then we sold off and we've been slowly and surely climbing our way back up. But nothing too too crazy in fact the s p. 500. Was red based on the previous days closed the queues kind of in line and the russell in line.

If you look at all the major time frames over the past week. Yes the s p 500 was in the green which is awesome for the bulls not so good as on all the other major time frames. It was in the red. Now obviously we are building up some bullish momentum.

And there's some things coming up that maybe might help that along it could also go the opposite way and kind of push it down before we get into some of those events. I just want to remind you of where we are in terms of seasonality. We're in mid july and july is a pretty bullish month. So we might get that continuation just from seasonal pressure.

So just want to leave that in mind for you. This is all you can see this yourself. It's on equity clock. And another outfit that is landing a little bit more bullish.

But on a slightly larger time frame is oppenheimer the s p 500 will eke out a small gain this year as the index recovers first half losses on the back of a solid economy now over the past week. We did get some interesting i guess reports from the government one of which relates to jobs and that's pretty much where oppenheimer's reasoning is coming from oppenheimer this week. Slashed its outlook for the s p. 500.

Stating that the benchmark index will do worse than the firm had expected but will still jump 25 through the rest of the year to the end of 2022 with a small gain which seeing how much we've sold off i mean on the year year to date we're down 18 that's a pretty nice pop we believe the us. Economic fundamentals remain on solid footing. He is concerned about rising inflation. He's optimistic that interest rate hikes would help lower prices minutes from the fed's june meeting.

Which came out last week release week. This week revealed that another large rate hike is likely coming this month at the end of july. We have another fomc meeting where they do write hikes or cut downs or leave it neutral. We won't have one in august.

Unless. There's an emergency. One and then there's another normally scheduled one in september. So just so everyone knows the end of july none august for now and then another one in september.

And for the july. One most odds are pointing to another 75 bips rate hike. You know that exact same thing. That the fed told us would be rare and they probably wouldn't be doing again.

Yeah. That's what the markets are currently pricing in large rate hike likely coming this month. A point reinforced by friday's strong jobs report that was the unemployment report that came out on the. 8th the unemployment rate is 36.

Which was in line with what everyone thought it would be but we added more jobs than expected. So that's showing a little bit of strength to the economy. Which gives a little bit more free reign to the fed to be a little bit more hawkish to more rightfully battle inflation. But the tools that they're getting to use these rate hikes not so good for the old stock market.

We expect that the fed may well be able to avoid a hard landing. That said. A bumpy landing is not out of the question now we're gonna get into this a little bit. But there's two questions i have for you and i want you to comment below do you have faith in the fed do you trust that they'll be able to pull it off do you think they're telling us the truth.

But hey they're doing their best or do you think they're completely lying to our face. And they have no idea. What's going on that's one of my questions. The other one and i'll reiterate this later is i want to know what is the main stock you're going to be watching this upcoming week.

Because i think there could be a cool amount of volatility so just let me know in a comment. Below the one that you think could just have massive moves this upcoming week. Whether positive or negative. I'm just curious of what you'll be paying attention to a thing you should be paying attention to is going down on wednesday july 13th.

We get the cpi report the consumer price index this is an inflationary gauge that you can bet your bottom dollar. The fed will be paying attention to for their fomc meeting at the end. Of july this is the last time you heard about. 86.

83. That number we're getting another one. And that's coming out on wednesday july 13th. And you'll get the.

Information an hour before the market opens at 8 30 am. Another thing going down is we are getting the start of earnings season. Basically we're gonna find out how a bunch of major companies did in q2. We are getting underway.

We're kind of getting started this week. Obviously pepsi is a big company delta a lot of banks wells fargo city. You're going to get pnc you're going to get morgan stanley jp. Morgan a lot of banks.

They're kind of the ones. That always get the party started so that will be starting kind of close to the end of this week. And then over the next two to three weeks that's when you're gonna think of all those major s p. 500.

Companies they're all going to be reporting. How they did in the last fiscal quarter. Now before we get into some of the hot news with twitter and amc. I very quickly want to talk about the technicals of the overall s p.

500. The overall market like i said we had a lot of green days. But we didn't really break out what i'm seeing is i like this higher low. I like that the rsi is coming back to more of a neutral level.

But i do want to see a higher high we have this higher low. But not exactly a higher high and if we get above that i would love to play this gap up to 401 444. But don't forget to the downside. We have another gap filled to 369 38.

I strongly believe both of these gaps are going to get filled. It's just the golden question of when and we might get a better idea of which could be filled first based on the cpi report. And also how all these other companies are going to be doing in their earnings announcement. So just want to lay out some of these levels of support and resistance that i'm personally paying attention to but this is the type of stuff that i cover more in depth during the 9 to 12 live stream from monday to friday.

Where we're seeing things play out in real time one that could be interesting to pay attention to is twitter twitter twitter twitter closed out the week at 3681 and it dropped all the way as low as 3360. Closed out the day in the post market training at 35. And it was all because of this elon musk moves to end the 44 billy deal to buy twitter in the past couple months. Elon's been elon in his golden form.

And it's been crazy so he's like hey i want to buy twitter and then since then he sniped at twitter.'s top executives he unleashed tweets taunting the company's board. He complained that the social media service had too many spam accounts and that he could not get insight into the issue. He tweeted. A poop emoji even to express his displeasure.

Hey. I think we've all been there well as of the 8th july 8th. On friday. Mr.

Musk tried to back out of the acquisition. Altogether now this is a big deal because if you remember when it was started it said that either party that backs out might be liable for a billion dollars. Like just uh kind of a weird punishment for backing out. Mr.

Musk said. He was terminating the twitter deal because of a continuing disagreement over the number of spam accounts on the platform. Twitter. Says.

It's less than five percent. Elon says. It's closer to 20. And apparently they cannot come to an agreement on the actual number he claimed that twitter had not provided information necessary to calculate the number of those accounts.

Which the company has said is lower than five percent and that he had appeared to make inaccurate statements twitter is in material breach of multiple provisions. According to musk's lawyer and says it appears to have made false and misleading representations. Obviously that's one side of the argument and probably this is the exact explanation of why twitter took a very steep nosedive end. I don't see it getting any better.

I wouldn't be surprised if it continues its nosedive this upcoming week. But hey we'll see anyway on the other side of it elon musk faces paying billions of dollars after backing out of a twitter deal elon musk could face paying out billions of dollars after walking away from the deal to buy twitter. Scott galloway. That's a sick name of nyu.

Said musk was unlikely to win the inevitable legal battle with twitter after walking away from his 44 billy deal on friday musk may be forced to pay the difference between the 44 billion. He offered for twitter and its value now. Which stands at 28 billion well that's a way way bigger difference than 1 billion. I kind of doubt if it's going to go that way i could say the billion.

But the only reason twitter got an elevator price is because people were excited about the buyout at the 54 level. And now with musk going so much and if he's backing out. He's probably going to have a massive fire sale or even if he doesn't i think people are going to be afraid that he's going to anyway. And it's going to prompt probably an inordinate amount of selling pressure.

This is probably going to get very ugly musk faces a 1 billion break fee for walking away from the deal which i mean that's peanuts compared to what this difference could be and that's 28. I mean this could go lower if it continues to sell here shareholders 17 billion here and that's the stocks probability going to crater with twitter. This guys could be looking at a 20 billion judgment it could be massive. I don't know enough about legalese or how the deal was structured to see if he's really gonna have to pay that difference logically speaking.

I don't know why he would have to pay that difference i understand the 1 billion. But just the difference between the buyout price and where it's at now. I mean if he wants to sell it he wants to sell it like his own share. So i think there's going to be a lot of volatility.

Potentially an awesome trade with twitter this upcoming week. So i want to throw that on your radar. Another one that's been doing pretty well lately is. Amc i mean over the.

Past week it's up 875 over the past. Month it's up 145. Which means that we're slowly clawing away out of the red that we've had in some of these longer time frames. I love the technical breakout above 1450 and that closed.

I want to see the tests of 1620 and then we also have this region of resistance really from 1620 to 1720 but what i wanted to bring up more from a i suppose fundamental standpoint is what happened over the weekend. The box office once again crushing it now the overall box office has been doing very very well this year. And we're just seeing a continuation of that. But i wanted to call out thor 4.

I saw it myself not my favorite marvel movie. But a very good movie nonetheless thor 4 unearths 159 million overseas 302 million globally disney marvel adventure thor love and thunder has thundered to a million at the global box office thanks to a better than expected 159 million start overseas now i'm filming this halfway through the day on sunday. So it's probably going to be better. When the sunday number is actually rolling please keep that in mind.

Overall ticket. Sales mark a franchise best start for marvel stand alone stories about chris hemsworth god of thunder. It also ranks as the third best opening weekend of the year behind. Dr.

Strange and the multiverse of madness and jurassic world dominion. So once again this is a little piece of the overall story of clearly how the theater. Going experience is absolutely not dead and in fact. It's growing and growing and growing and after the market closes on i believe august 4th.

We're going to get the next earnings announcement from amc to see what went down in the most recent quarter. So that's what i have for you i would love to get your thoughts on do you really trust in the fed or not and also what do you think is going to be the craziest stock this particular week. Whether bullish or bearish just where do you think the volatility is gonna be at let me know in a comment below. I appreciate your time and i'll catch you in the next video.