We have a lot to talk about. The upcoming week within the stock market is going to be a pivotal one. So I want to put on your radar all the major things that you should probably be paying attention to because you never know when we're going to get another big burst of volatility. On top of that, I'll quickly go over today's somewhat sideways choppy price action, but hey, at least we had two layups of a trade that I'll quickly be reviewing now.

Obviously, if you like these type of daily updates of what's going on in the world of the economy, the stock market, and a little bit of politics obviously, don't forget to like, don't forget to subscribe. With that being said, let's ride. By the time the closing bell went dingy ding ding ding today Monday November 13th the whole situation was pretty me. S&P 500 closes Little change Monday After Moody Cut to us Outlook Basically Moody one of the rating agencies says hey, hey Mr government people Mrs Government people if you keep doing the things that you're doing, we might be forced to downgrade the US credit worthiness.

This has happened before for in August of this year with Fitch Obviously it's not a bullish development by any means, and what they're focusing on is the US potentially close to another government shutdown because we seem to have a very, very tough time to get any budget ever passed and I'll talk on that in 1 second. But in terms of the overall Market the S&P 500 little red little green, it looks kind of like a confusing Christmas mess I guess is probably the best way to put it. For those of you who care about the exact numbers, the Spy it's sold at first then had a nice pop but relative to where we closed out last week, the Spy was down .1% The tech sector The Q's we're down 3% but still midday. Decent rally.

On that note I Do want to quickly let you know that here this is Locals M. Locals.com If you are a member on this, you can actually get access to the Gooni Discord if that's something that you care about and this is where not only do I post these trades other Traders posters and we kind of break it down and discuss the news in real time. But anyway I had two quick put credit spreads one on the Spy 438 by 437 obviously that was a winner and then the other one was a q put credit spread for 375 spread by 374 so that was another easy layup of a trade for the day. Once again, if you want access to a pretty cool community of Traders private teachings, trading competitions, and a lot of other interesting things, check out the Gooni community which you could get connected to through locals.

So sign up for locals and that's how you'll be able to access the Discord You can get one month of free access by using the code Gooni G, N I E I'll make sure all that stuff is in the description of this video now very quickly before we get into all the economic things that you should be paying attention to for the remainder of this week that will undoubtedly have a big impact on the stock market. I Need to quickly share this just because I found it to be absurdly wild Supreme Court adopts ethics code AS Justices face criticism over Financial disclosures here: I Am thinking that our Supreme Court already had a pretty solid ethics code, but I guess not the Supreme Court announced a written code of ethics. The move followed waves of criticism over reports about undisclosed gifts and travel received by some members of the high court. The 14-page code of conduct was written to quote unquote dispel the quote unquote misunderstanding that Court's nine justices quote unquote regard themselves as unrestricted by any ethics rules the court said in a statement.

so literally the highest court in all the land now adopting a code of ethics. A little confusing, but I guess it's seemingly a couple steps in the right direction. All righty. let's get to the one of many things that you should be paying attention to this week and this one goes by the name of a potential.

US Government Shutdown House Speaker Mike Johnson's new short-term funding plan for the US government could run a ground in the next 24 hours raising the risk of a November 18th shutdown obviously sent alert put a big red square on your calendar. do whatever you need to. but November 18th things could get a little bit dicey. Hardline Conservatives have two opportunities to sabotage Johnson's proposal even before a house vote planned for Tuesday President Joe Biden also has a weapon available.

He could issue an explicit veto threat which would damage prospects for Democratic support in the vote Johnson's plan which contemporarily fund some parts of the US governments through January 19th and other parts through February 2nd faces opposition from at least eight Ultra Conservatives who want immediate spending cuts or changes to immigration law as a condition for any interm measure. And it's this exact type of political brinksmanship that the ratings agency specifically Moody doesn't like personally. I Don't think it's that crazy that a ratings agency, the exact group that should be measuring the credit worthiness has a little bit of an issue that it seems as if our government funding shut down, not being shut down is always being used as a political bargain. And it's like I said, not that crazy that maybe instead of being the highest rating at AAA, they might knock us down to double A+ And that's actually what Fitch has already done to the US creditworthiness.

So the Supreme Court Justices are finally getting a code of ethics. we might be having a US Government shutdown. And to make it even more fun, check this one out. Everything Biden and X need from their Summit starting with each other? Yes, President Joe Biden is meeting with the President of China President Xiin Ping this week.

So like I said, when it rains, it pours. When there's a little bit of volatility, there's a whole heck of a lot of volatility. There's not too much you need to know about this particular story line right now, just that they are meeting on Wednesday and come Wednesday and Thursday, there's obviously going to be some massive updates on it, so I just want to put this on your radar for now. Just so you know, in the midweek, pay attention to what's going on with the US and China and hopefully the simmering of tensions, but obviously it could go the exact other way.

So just want to call it out for all of you. In terms of scheduled plann macroeconomic announcements, the name of the game for this particular week is inflation. So starting tomorrow Tuesday No November 14th an hour before the Market opens 8:30 a.m. ET Yes, I will be streaming this whole thing.

We are going to get the Consumer Price Index update a measure of inflation. So then we fast forward to Wednesday where we're going to get the PPI the producer price index on top of that retail sales. and then later this week we're going to be getting the CPI reading out of the Euro zone. So the name of the game for this week is inflation updates specific to tomorrow.

The US CPI is expected to be 3.3% %. If we come in above that, that's probably not. So Bueno That means inflation has been growing more than we anticipated. Most likely would be a bearish development for the old stock market and then vice versa.

If we come in below that, that means that maybe we got some form of handle on inflation and that could be a bullish development for the market Now I'm by no means Clairvoyant at least that I know of. but I do want to give you some interesting stats, facts and figures about the historic CPI days. basically. I Called up the boys at the lab and I said hey, give me a breakdown of the most recent 10 CPI report days and let me know how the market reacts and I have those numbers right here.

Out of the last 10, the day that the CPI is reported, five have been red and five have been green. Five have been bearish days. Five have been bullish days. So if you're trying to BET right now, you're flipping a coin.

but I didn't stop there I said hey boys at the lab who are crunching the numbers for me so I could share it with all of my audience I need something a little bit more meaty I need something that people can actually use and they did find something relative to the markets. Closed today from the open on the CPI day. So in this particular case, Monday's close to Tuesday's open if we look at Gap UPS or Gap Downs the price of the opening value of the next day relative to the previous close, 9 out of 10, 90% have been Gap UPS. So if I were to give some sort of a prediction here, it would be that my bet would be that tomorrow's Market opening price will be higher than today's closing price.

And on that particular note, if this call out is right, I would love your virtual Applause and if it happens to be wrong, maybe we should just forget that I said it anyway cuz obviously it's not a guarantee. but I'm just talking about the situations in which the deck is stacked in your favor. Moving on, I should also let you know that we're still in earning season before the Market opens, we're going to hear from Home Depot and later in the week. Obviously, there's a slew of other companies that you might care about such as Target Advanced Auto Parts TJ Maxx JD We are kind of getting to the end of earning season I'm particularly interested in hearing from Rumble but there's a good chance that by the time you're watching this video, Rumble's earnings are already out.

So the other major one that's in the future that I think a lot of people will be caring about is NVIDIA the leading semiconductor play and we hear from them on Tuesday November 21st. So once again, make sure to mark your calendar. Side note: just related to Nvidia here if Nvidia on Monday unveiled the H200 a graphics Processing Unit designed for training and deploying the kinds of AI models powering the generative. AI Boom The H200 includes 141 GB of Next Generation Hbm3 memory that will help it generate text, images or predictions using AI models.

Interest in Nvidia's AI Gpus has supercharged a company with sales expected to searge 170% this quarter. If that number is hit, it is absolutely absurd. Absolutely bullish. so obviously it'll be pretty interesting to pay attention to.

Will Nvidia report good numbers that push it to a new all-time high or is it going to Fumble the ball. Let me know your thoughts in a comment below and the final thing that I want to leave you with is exactly this: Obviously, every single week I'm putting out a newsletter. it's free if you want it I Just give a breakdown of the previous week, what's coming up in the upcoming week, all the major macroeconomic events, all the earnings I'm paying attention to and I want to talk about seasonality. So from a historic standpoint from the past 25 years today favor the Bulls and that really didn't come to fruition because today was a sideways choppy day.

Now for Tuesday November 14th the day of the CPI report. From a seasonal standpoint, just how things have played out historically this day has been pretty neutral. not really favoring the bulls, not really favoring the Bears kind of just an type of a day. So I just want to let you know what's going on with seasonality.

For the remainder of this week, we have a very bullish day a kind of bearish day, and then also more of a noteworthy bearish day to conclude the week before before we get into the Thanksgiving holiday week just to throw another thing on everyone's radar. That's what I have for you in this video I Hope you enjoyed it I Appreciate your time I'll catch you in the next one. Have a beautiful day.