Foreign Foreign. Welcome back to another episode of the Matt Core Show where I'm Matt Cores, you're the show and together we pull this whole thing off. Today is Monday September 18th I Hope you had a fantastic weekend I hope you made a bunch of money last week and I hope you're ready to crush it again this week. Good morning, good morning, good morning.

or I suppose good afternoon, good evening, good night, good, whatever freaking time it is for you whenever you're watching this. I Kind of doubt you're watching it as a replay. If you are watching it as a replay, let me know. But I feel like most of the audience is just going to be live starting early today? Yeah, I was just kind of bored and I was sitting here and I was like, well, I'm ready to go and then obviously I have a bunch of cameras installed in all of your houses and I was watching you guys and I saw that you were ready to go So I was thinking to myself, why wouldn't I just start We're all like kind of.

It's like, you know, sometimes you have a scheduled call at like whatever a set time in the day, whether it's for business or whatever and you just know that you're sitting there awkwardly like the five minutes leading up to doing nothing and then so is the other person. But because we have like an exact set time like no, no, I just gotta sit I'll call them at 1 pm because it's scheduled at 1 pm even though you're both awkwardly sitting there at like 12 55. Kind of a weird thing. So I figured let's just change it up a little bit.

you're sitting there awkwardly. I'm sitting here awkwardly. Let's start Today's show a little bit early just to really try to I guess take on the awkwardness? See what we could possibly do about it? but I hope everyone had a good weekend I hope everyone crushed it last week and I hope you're ready for another fun filled week ahead Because this week is an Fom Decision week. Obviously, the Fomc meeting where the FED members, the voting fed members at least get to decide what are we doing with the federal funds, right? The meeting technically starts tomorrow, concludes on Wednesday We get the results at 2 p.m and then Jerome Powell the Chairman of the FED will be speaking at 2 30.

So obviously Tuesday Wednesday Thursday Definitely expecting a spike in volatility. obviously. on top of all that, we have some other announcements and developments in terms of the macro economic situation. Really, really focusing on currencies lately just because of all the monetary policy decisions that are being made not being made as everything relates obviously to inflation not only here in the US, but globally.

On top of that, we have some developments of what's going on in the world of the government. Obviously, we could potentially be shutting down at the end of the month, but there is now a new bill that will give us like a one-month buffer so we could talk about that. We had a little bit of breaking news this morning that Hunter Biden I'm I'm laughing saying this because I I can't I I Can't believe it's happening. But apparently Hunter Biden is now suing the IRS and his reasoning for it is that they're trying to embarrass him.

Hunter Biden says that someone's attempting to embarrass him and that's he's not talking in. Amir He's not looking at himself. he's trying to say someone else is trying to embarrass him as if it's not his own decisions and actions. Uh, so that's some breaking news out of this morning.

Obviously, we could get into that. so a little bit of a political update, mainly focusing on what's going down with the government shutdown. Obviously we have some updates from McCarthy and also from Trump, but from there we might as well cover the hunter Biden thing, because why not? It sounds absolutely hilarious. Then from there, a little bit of just a setup for the week.

all the major macroeconomic reports, the seasonality charts of interest. uh. from there I Do have some updates specifically for individual equities namely AMC and Tesla so we could be talking about that a little bit later on if you guys so choose. There is a new set of proposals for the upcoming AMC stockholder meeting, which is scheduled for early November.

so about seven weeks away roughly if I did my math there some of the proposals I am no lawyer so I don't speak legalese but to my rudimentary understanding of what the proposals are and basically just Googling some of these definitions the whole proposal set in a general sense I find very very concerning so some of them I think are evident yes, votes and then some of them jump out to me as pretty evident no vote so we could go over that a little bit later after the market open like volatility calms down. Uh, just when we have a little bit more time because it is going to take some a little bit of effort to get through. but if you currently own AMC I Highly, highly, highly recommend you check out the proposals on the link I've actually just put it up on Twitter if you want to get it from there so the Link's there, but some of them are very very very concerning. so I want to go over that just because I think it's important and I think it's indicative of the fact that Adam Aaron and the board know they've been doing something that is legally questionable and I don't say that lightly at all, but they're basically asking for a get out of jail free card for all their actions which blows my mind.

So I want to talk about that? interesting Tesla updates We have some big big bets being made on the dollar in support of the dollar coming from some hedge fund. so I want to go over that, especially in light of what's going to be decided this week. and that's going to be it. What's going to be it? That's gonna be it.

That's going to be it. Uh, the AMC Lemmings will vote Yes to whatever they are told to. Well, that's because they're stupid and they're exactly that. Lemmings you nailed it exactly right.

Kevin But I hope you guys got your game over cup I got mine from Dave and Buster's but I'm excited for dump money I'm hoping to see it this upcoming weekend. I Think it's going to be a really good movie. Oh once again I Want AMC to win as a company I Know it employs a lot of people I I Like theaters myself? uh I just have a very, very big issue with the current leadership team, not the company. the current leadership team and I truly believe that they've absolutely tricked Hoodwinked Bamboozled a bunch of As Kevin said message right here it I Think they're just taking advantage of a bunch of people who are uninformed about the markets I Listened to some of these Twitter space calls and these people are crazy.

They're like look at AMC look at They're now doing wine. They're doing popcorn. They're doing. They're doing chocolate.

Oh my. God It's gonna be billions and billions and billions and billions of dollars. They just don't know what they're talking about. I very much want them to be successful.

but it's one thing to talk to. talk as this leadership team like we're going to do this. We're going to do this. We're going to do this.

But what really matters is results. And we have not been seeing positive results. and unfortunately I think there is one thing going on that is very much out of their control and that's this writer actor strike. There's clearly going to be a lag effect of big blockbuster movies not being made.

and once again, that's not an Adam Aaron's control. That's not an AMC's control that's just in the union. and streaming services that's in their control. In a weird way, these streaming services could actually take out a competitor.

I.E AMC Theaters Cinemark Like all those Regal by keeping this going on like I Don't think anyone's really discussing that. but think about this. if yes, in the short term, you're going to take a hit as well. Obviously streaming services, because once again, things aren't going to be made.

But they know that movie theaters themselves are fundamentally in a weak position the longer they drag this out. Streaming services: I'm talking about whatever. Hulu Disney plus Netflix Max The longer they hold this out, they're gonna take a hit. but it's more of, um, what's it like the poison arrow thing where you get hit but you the other person's gonna get hit worse and like you're just hoping that like you could survive and they can't I think it's something like the poison arrow the poison dart like either story or methodology the longer this goes.

Yeah, streaming will also take a service. uh, like a hit, but if they do it to the appropriate amount of time where there's enough damage done, it could take out theaters and then when it all comes back, well what? Reigns Supreme Obviously it's gonna just be streaming because it's the only leftover thing. So it it's interesting. this could get pretty pretty vicious.

so obviously we'll be talking about that. Uh, but we'll go. we'll go on. Uh Arrow yeah, something about poison air I actually think I heard about it in billions.

Is it the poison arrow or what is it? Uh, there's like a special name for it I don't know. we'll see how it all goes, but obviously I want to do some seasonality talk I Want to do some Zero DT talk. We have the political update. There's a lot to get into, a lot to get into, a lot to get into.

did anyone? I Guess we did start a little bit early and as we're waiting for people to kind of file into class today and I can't give out to marriage today because I started early without telling anyone so that's 100 on me. Uh, but did anyone get up to anything fun this weekend? anyone? absolutely crush it This weekend, Do something fun, maybe go to Texas Roadhouse Casey Woods was a 66th like I appreciate that. Hey, if you're watching right now, don't forget to smash the like button. Don't forget to subscribe.

Make sure you subscribe on both Rumble and on. YouTube Uh and hey, while you're at it, there's a free newsletter. all that stuff. Macquares.locals.com in the description of the video I made Japanese Curry I Didn't know that was a thing, but it sounds good.

watch MSU get their teeth kicked in. Well that's exciting I won 500 on Goonies slot machine. Oh wait, did you tag me on Twitter Someone tagged me in Twitter playing goony slots is that you I saw that on Twitter that's awesome I went to a Texas Roadhouse yesterday. Hell yeah brother.

My fantasy football teams got smashed. all four of them. Yeah! so I'm in a weird position where my fantasy teams are getting destroyed. but the teams I support the Eagles and then also Penn State are both winning.

So I'm in a weird position where my fantasy teams and it's really my running backs are just not producing whatsoever. I Just my running backs can't score a point if their life depended on it. But here we are. Can you talk about the Bond yield curve? I Keep seeing on Twitter as in just like the yield curve, the inverted deal curve.

We could talk about that if that's what you're talking about going to Texas Roadhouse tonight what should I order? Ooh the perfect order is they're going to come up to you. They're gonna say hey darling, hey honey, maybe something like that I Don't know if that's how your Texas Roadhouse talks to you, but that's how my Texas Roadhouse talks to me. And you say they're like they usually come with the gold and bits of paradise, like they're buns that come with cinnamon butter and as soon as they put it on, you're gonna be like listen, brother, we're gonna need another one of those So they are going to be like oh okay and then you're gonna crush the first basket right when you start the second basket. When they come back and you're like what can we get you you're like I'm gonna need a margarita for sure.

They're like all right we're gonna put that order in depending on the time of the year you might want to do it slushy form, but maybe not slushy form. But regardless, get like one of their huge margaritas. and then for the meal itself, this is the perfect meal if you don't want steak which they have good steak but if you don't want steak, get a half rack of ribs, get their green beans and get their mashed potatoes. Or if you're looking for more of a sweet potato get their like baked sweet potato.

But the half rack of ribs. The green beans are awesome. They have like the little bits of bacon and it and then from there. whatever your bias towards either mashed potatoes or sweet potatoes.

uh and then other than that, they have a lot of good steak options if you're looking for a good steak. But I'm very very biased towards the half rack of ribs. Or hey, if you just crush the stair stepper if you were really really hungry, sack up. get the full rack of ribs.

YOLO You only live once. You only live once. My daughter works there and brings the buns and butter home every day she works. Love those buns! Dude sounds like you have one of the best daughters on this planet.

The fact that she brings home the buns and butter to you, it shows that she really loves you. It shows Steve that you raised your daughter right? Um, so shout out to honestly Gold Star to Steve's daughter today. She's probably never, ever watched the show. Steve I Don't know if your daughter watches or not, but the next time you talk to her, can you let her know that all of us collectively gave her a gold star today? Because that's just that's just quality family actions right there.

Gold Star for Steve's daughter. Gold star. Uh, what else we have going on? Uh, she brings home Gold Star to Steve's daughter. Hey, we're all there.

We're all there if you want to stay. I'm buying wagyu sirloin and cooking it myself for less than Prime at a restaurant I mean I'm not going to argue with that I mean I I cook up a mean steak myself literally last night I reverse here to London Broil to absolute perfection. If you don't believe me, ask Piper We went Hamzies on it as in not paying for it. she doesn't have money, she doesn't have opposable thumbs.

but in terms of dinner and splitting in half, she got half the London Broil I got half the London Broil and I'm not gonna name names but one of us clogged the toilet and that's actually legitimately an issue I need to figure out after the stream today. uh I don't want to throw anyone under a bus but all I know is I split half a London broil with my kitten and one of us clogged the toilet. but anyway, that's uh that we're starting the show today. So let's talk about the old stock market.

In my humble opinion, things are not looking the best right now I Think there's some apprehension going into the Fomc meeting which we get the decision from Wednesday this Wednesday what's today the 18th, so 19th, 20th, September 20th, 2 p.m Eastern mark your calendars, set an alarm, do whatever you need to with your Sundial I Don't know if they have an alert notification based system, but if they do get that ready because at 2 pm on Wednesday things are gonna get a little hectic. So I think going into this today itself might be a little bit choppy, a little bit range bound because there's no major macroeconomic reports today and we're going into a week where all the reports are coming a little later. So today if I out of the five trading days this week, Monday Tuesday Wednesday Thursday Friday If I had to guess which day was going to be the most boring, it would actually be today just because. obviously tomorrow we have the lead up the apprehension going into the meeting Wednesday We have the meeting and then obviously we have the aftershocks and other macroeconomic reports Thursday and Friday of this week.

so I'm still expecting a volatile week I'm still expecting nice ranges this week that hot. Obviously, if we're on the right side of we can make some good money, but on a relative basis I think they're all going to be high volatility, but on a relative basis I Do believe today will be a bit more boring relative to the other ones. but I Still think that today, even though on a relative basis it's going to be more boring I think relative to last week, it should Still, this whole week should be better trading. But anyway I did do a breakdown of the spy in I did a specialty Sunday stream yesterday.

um I Know some of you were busy watching football, but here let me delete this. Um, this is the major technical structure I'm watching on the overall market right now. Obviously we are consolidating. You could call it a bullish pennant we were trading up into creating the triangle.

Now we have lower highs, higher lows denoted by this triangle right here if you believe in three sided shapes. Now obviously. I don't feel strongly about this Breaking Upwards or downwards. I Just feel strongly about it breaking.

So I'm looking for the break and hold to the upside. I'm looking for the breakdown and the hold to the bottom side and then I'm going to play that direction I Am not biased towards the upside or towards the downside. I'm going to take what the market can give me. So I'm basically watching this top side level this bottom side level.

so that's my major watch in terms of the market. Now the cues are a little bit of a different story because the tech sector on a relative basis. You could say that it had a failed break here, so obviously similar thing bullish pendant try to get above, got smacked, but found equilibrium or found a base at the equilibrium point, try to break again, put in another lower high, broke back into it, and now once again, we're basically getting this bottom side test of this one. so the cues might be a little bit of a better indicator if the cues start to bounce and recover.

Okay, maybe that's going to lead the Spy to a North Side breakout. On the flip side, if we see the cues breakdown which it could be very close till now, that might end up dragging the spy with it. So really, in terms of the overall Market I'm kind of particularly paying attention to what happens in the NASDAQ so watching that and then there's a couple other things that I just found interesting Nvidia Microsoft and Carvana, but I'll cover those in a bit. Let's rip through all this major major news stock futures Edge higher as Wall Street awaits fed meeting I don't think that's right I think we're actually down.

uh, if I were to go to the 15 minute I don't know who their intern is at CNBC but that's not edging higher And trust me, you're talking to a guy who's a borderline expert on edging. and seriously, they're saying it's edging higher. Oh, now they switch it inch lower. Not only am I an expert on edging, but I'm also an expert on singular inches as well.

So I guess the intern did update it and I don't have to fix it for him like I did last week. But anyway, yes, things are looking a little bit heavy this morning. Hunter Biden Sues IRS Over tax information disclosures we have a bit of breaking news this morning: Hunter Biden Sues IRS alleges agents tried to quote unquote Target and quote unquote embarrass him Biden's lawsuit calls how IRS Whistleblowers Shapley and Zeigler Hunter Biden's attorneys filed a lawsuit against the IRS on Monday alleging that the agents have targeted and sought to embarrass the President's son. Biden's Monday morning filing cite two major examples in: IRS Agents Shapley and Zeigler two whistleblowers who claimed the IRS mishandled aspects of its investigation into Biden Now obviously I Think like many of you I find this particularly hilarious because Hunter Biden does enough to embarrass himself.

whether it's his gun charges, his weird positions on energy boards in somewhere in random countries in Eastern Europe or it's his drug use or his alcohol use or various pictures with him with like paid adult workers I Don't think we need a whole other organization to do the embarrassing when Biden lives in a world that is embarrassing himself. Um, but I guess when in doubt Casp lame elsewhere I don't know I don't know if this is going to go anywhere I think a judge is going to look at this and be like that's just that's sad. Too bad, so sad. See you later I Don't think it'll become anything but yeah uh.

Biden Hunter Biden I Guess going on somewhat of an offensive I Just I I Don't see how this could end well for him by any stretch of the imagination. In more of a serious political update, McCarthy says U.S shutdown would be self-defeating for the GOP house. Speaker Kevin McCarthy Said he wants to avoid a U.S government shutdown because it would undermine his party's leverage in negotiations over spending cuts sought by. Republicans I Want to make sure we don't shut down? Just a little bit of context here: September 30th would be the day if we don't pass something.

I Don't think that it is a win for the American public and I definitely don't believe it'll make our hand weaker if we shut down. Excuse me. It will make our hand weaker. With the Federal government rapidly approaching its September 30th end of fiscal year, the Republican leader cited signs of progress on getting spending bills through the house.

He didn't provide specifics. Now if you watched my little specialty Sunday show, you're going to know that. One thing I found particularly irksome about this whole situation is we're more likely than not about to give another 20 plus billion to Zielinski in. Ukraine in top of the fact that we've already given them 100 to 150 billion in funding in one way or another, whether it's straight up cash or it's our weapons or this or that or the other thing.

But in totality, we've already given them somewhere between 100 and 150 billion and now he's here. He's going to be speaking with our Congress Wednesday and Thursday in the President. Another 20 to 22, 24, 20 plus billion dollars. And it blows my mind because obviously we have our own financial problems, not only our government, but the US populace.

I mean Hawaii Maui obviously needs a ton of help. We have a lot of immigration issues right now. Asylum Seekers Where we need shelter? we need food. Uh, veterans are not getting the proper care in various ways that they evidently need.

Our education system is sad. Our the relative ranking of where we are as a Powerhouse of a country and then the quality of our education system. it's ins. It's insanely sad.

And yet we still come up with billions and billions of dollars. Billions and billions of dollars. I Mean we have kids that are going hungry. We have various Charities that could use this money and like actually make good positive change within not only the Us but within the world.

And then we just keep coming up with billions and billions of extra dollars to give a country that it's what have you been doing with the money. I Think that's a very, very fair question for Republicans Government shutdowns are likely basically playing Russian roulette with all the chambers full. If you look at the history of shutdowns, they accomplish virtually nothing in reducing spending. We always lose on this exercise.

Yeah, I mean the holdouts don't really make the much sense, but this is what Squawk Box had to say about it this morning and neither one of you under let me ask you because we talked about it earlier, we've had people on say a shutdown can be an effective way to get a point across in terms of spending. Would you, under any circumstances ever say it's Justified Judd Uh, no. uh, if you look at the history of shutdowns I Went through three, they accomplished virtually nothing in reducing spending, and they significantly impacted the Republican house membership by having people in swing districts lose their elections for Republicans. Uh, shutdowns are essentially playing Russian roulette of all the chambers full.

What a lie. We always put a line on this exercise and it isn't necessary. Uh, that's the point. You can do so much to get this government spending under control and the deficits under control just through reaching agreements on key elements of what's causing that spending.

And uh, that would be a comprehensive agreement on social Security. For example, comprehensive agreement on Medicare These are very doable events if you put Evan and I in a row. Uh, we could make dramatic progress on accomplishing this, but the problem is everyone's too conservative for his party. I'm too rational for my party.

So you've got this movement is hugely populous, which basically doesn't want compromise and doesn't want to govern well. Historically, it probably doesn't lead too much actually have a shutdown, but I Also, understand just from a person within this country, sometimes we're all looking around like, well, they kind of don't do anything anyway, just wasting money I don't know there's so much I feel like whenever you put in the effort to learn a little bit more about our political system and the people currently running our political system, it's just so it's so easy to become dismayed, just to become upset, just to become angry because it's so many people who objectively the facts are stating that they're there for the power and the money and not honestly to make their locality, their state, the country a better place. It's so much of. let's use taxpayer dollars and let's also print money out of the thin air to somehow buy votes in one way or another.

I I Just feel I think a lot of these politicians actually start like I believe I want to believe that they start coming from a good place? They're like I think I can make a change and I don't know if it's the system or if it's the only way you actually survive in it. but I think after time progresses, it just like really wears them down and then they just become another political puppet where they're like okay, money and power and I just need to get to the next level and they sit there and they all can speak and speak and speak and they're just talking forever but not actually saying anything and then I think all they do is really look at the polls and they're like okay, this area is either majorly left leaning or right leaning and then they look at the polls and they're like okay, well I could probably get that cohort of voice votes excuse me if I say this and then I could get that cohort of votes if I say this. I think they honestly just go through and they have a statistician. They're like, this is popular.

This is popular. This is popular and they say it. Say it, Say it, and then they don't have any issue spending money because it's not their money. Obviously it's taxpayer money.

and if they run out of taxpayer money, they're just going to print more money and they just do things that are essentially buying those and I don't know I I wish I had more of a well-founded answer of how this could potentially change, but it's just a Goliath of his system and I Truly, as I said before, believe people go in with the best of intentions and I think they just end up either if they keep to their morals. I think they end up losing because like they're going against people playing a completely different game and then for them to stay in there I think they just get wore down and they all of a sudden just become as I alluded to before, another political puppet and this is a statement for me on both sides: left and right. I'm I'm I Don't think one side is better than the other in this particular discussion. House Republicans Released short-term Bill to avert government shutdown until October 31st.

so basically giving themselves an additional month Europe is better prepared if Trump wins again. Germany's bareback says Trump was a total shock Foreign minister says in an interview bear Box stops in Texas DC included Outreach to Republicans So um, obviously I was looking at some polls right now and if you compare Trump to Biden The most recent round of polling that I believe either came out last night or this morning has Trump actually a hedge by a smidge and I hey I guess if these are two, if if we get into a circumstance where Biden and Trump are once again our two potential candidates once again for the third election in the row, I'm gonna be left with the feeling of honestly, these are the two best people we could come up with out of a country with 300 million plus people. You can't tell me we can't find two people who are of an appropriate age. appropriate intellect appropriate Charisma Appropriate speaking ability appropriate knowledge appropriate behavior like I Get that it's tough to find someone who's an intellectual Titan A physical specimen knowledgeable moral I Get that that's a tough package to find, but think about it in just terms of numbers: we have over 300 million people and we can't find two that like I'm just so tired of the fact that we're continually voting on the lesser of two evils rather than actually supporting one like this might be crazy.

This like, truly might be crazy to everyone. But imagine election where they're both good and we're just arguing the nuances of who's a little bit better. Imagine that. Imagine talking to someone who is like devoutly on the other side of the aisle and they're like yeah, I know that's good.

but I like this guy because of like XYZ I like this gal because of ABC No Right now we're in this weird situation where one's bad and then when you're having that conversation, it's like, well, I think they're worse because of this No I think they're worse because of this and it's more of like you're going down the rungs and you're literally trying to pick the lesser of two evils rather than saying oh no, they're both great. But I like this person just because of like, whatever their their statements or their policy on this that like it, it would be insane. Yeah, like I I guess it's just a dream at this point. but anyway Trump says he doesn't worry about going to jail I don't even think about him.

so obviously I believe he's now up to his fourth indictment. Um, but apparently he doesn't give two. Toots and I think some of his voter base they like that commentary. They like that kind of thing of like yeah, they're coming after our guy and he's not scared of him and hey, he is in whether you like him or not.

You have to admit that his speaking ability garnered millions and millions and millions of votes. He definitely knows how to speak to his base and at the end of the day, that's an important skill because you need to know how to speak to your base to get him out to come and vote for you. And that's something that obviously I've seen the recent videos of like DeSantis and I'm not saying he's a bad or a good politician, but in terms of pure speaking ability. Obviously like Trump wipes the floor with so many people because I think he understands the quote-unquote average person way more than any of these other I guess like indentured political hopefuls really do and I'm once again I'm not saying it's a good or a bad thing, but his speaking abilities very very and really, his comedic timing is most likely what got him the presidency the first time around.

All right. Uh, the Wall Street Journal An even bigger housing crisis threatens China's economy two years after Evergreen's fall distressed property giant Country Garden could create bigger problems, so as of recently, they have been able to pay off their interest payments like they've been hitting them on time even though that was a little bit in question. But overall, I think it's important that I continue to cover this Chinese economy narrative because if China goes down and goes down hard, it's going to drag a lot of the global economy with it. and I covered this last week.

But that's exactly why we're actually seeing an interesting shift where currently our number one trade partner is actually Mexico no longer China and between Shadow banking between in the real, the real estate economy between just some political tensions within China it's their whole situation is very suspect and I just want to share my thoughts on it because if you look at mainstream media, you're going to see the bigwigs. you're going to see a lot of hedge funds saying oh no, you got to invest in Emerging Markets you got to get like invest in some of this Chinese situation and they've been saying that since the start of the year and it's just been going down and down and down. so I just want to give a little bit of maybe a counter thought, just other things to consider and I think just in terms of our active training, it's important to know what's going on there. Speaking of important to know what's going on for today.

Monday September 18th There's no major macroeconomic events, but we do get the CPI report out of Europe Tomorrow building permits. The big day this week is Wednesday September 20th at 2PM we get the Fomc results and then Jerome Powell the chairman of the FED will be speaking at 2 30 uh same day and then on Thursday initial job with claims existing home sales and then on Friday we get the PMI results. So no big events today, but Tuesday Wednesday Thursday Friday we're going to get some good stuff. We're not in earnings season, but there are still some earnings right now.

The major one I'm paying attention to right here is FedEx A lot of people consider FedEx to be a solid barometer for the health of the overall market, so I'm personally going to be curious to see if at FedEx comes in line, beats or ends up missing, but that's after the market closes on Wednesday now I appreciate you joining in. If you're listening to this right now and you haven't signed up for the newsletter yet, you gotta do it. It is free at F R E E. you don't have to spend a single Cent every single week.

I'm going to deliver this newsletter to your mailbox, so sign up backwards.locals.com it is in the description of the video, but once again Matt Cores.locals.com and what I do in this newsletter is: I give a quick breakdown of what happened in the past week and what I'm looking towards in the upcoming week. I'm going over all the major macro economic reports for the upcoming week I list all the earnings that I think you guys might be interested in I give you the seasonality for the upcoming week Monday Tuesday Wednesday Thursday Friday And then I've added two new sections, a recap of the zero DTE strategy. Hey, if you like it, take it. If you don't, don't take it.

If you think it's horrible, obviously do the opposite. Last week it went 75 accuracy. It went out at the end of the week. Six rate Monday Tuesday Wednesday Thursday No trades on Friday and then I'm started this new section as well of charts of interest that I'm personally going to be paying attention to for the upcoming week.

so we already talked a little bit about the Spy. We talked a little bit about the cues, but there's three others I want to bring to your attention. Before we get to that though, I Do want to let you know that the seasonality for today is very opposite of how the charts look for today Monday September 18th Over the past 20 25 years worth of data, the Bulls have won this day 70 of the time. The profit factor is two, which anything over one is profitable.

The bias is obviously bullish, and here's a quick look at the equity curve. once again, buying it, open, selling it, close on this. For this individual day over the past 20 25 years, you can see it's a nice Trend to the upside. now is that a guarantee? No 30 of the time it hasn't worked.

but I Just want to let you know about the headwinds that the Bears are running into and the Tailwinds that the Bulls are being supported by. All right. Uh, so with all that, obviously I have some charts to review, but I just want to let you know that the weather today is bullish or bearish tomorrow. Wednesday Thursday Really, this whole week it all comes down to that Fed decision and right now we could say with about a 97 98 probability that there's going to be no rate hike, That's the chances right now of we're not going up, we're not going down.

Most likely the U.S Federal funds rate is going to stay at 5.25 percent. So the thing that's really going to move the market to the upside or the downside is going to be Jerome Powell's press conference afterwards. What he does say what he doesn't say in his response to the questions and um, we're gonna listen to this right after the Market opens because I don't think we have enough time right now I'm off by a couple seconds. So I just want to.

We'll come back to this. but the major Market mover this week is clearly going to be Jerome Powell's press conference. So on top of that, we're going to cover this aftermarket open hedge fund just turned bullish on the dollar before key Fed meetings. We're talking about that.

A little bit of an update of what's going on with Tesla and I was trying to learn how to say this or Erdo Erdo wand Erdogan I think is how you say it. the Turkish president So we'll come back to that uh talking a little bit about oil which has been Rip City now 91. We've been bullish on oil for a bit or at least I have I'm looking for it to go into the mid 93s so we're going to come back there. Five things to know before that stock market Bell goes Dignity ding ding ding today Monday September 18th fed ahead Yes Wednesday the United Auto worker strike so they did offer 21 pay increase and then the union said no.

Go Kick Rocks! Streaming struggles. Right now we have a lot of this, the writing and the acting strike going on. I saw that uh who is it who is currently running their show and like they're now like getting a lot of public backlash. Uh she's a actress lady who has her own talk show.

Why is her name escaping me? What is it? Someone help me out I know one of you guys in chat has to know it but she like she's one of the few people I think she has three writers who are on the Union and the world's like super super mad Erdogan Drew Barrymore that's it I Appreciate yeah Drew Barrymore So she's getting ripped apart on social media because everyone else is trying to like hold the picket line and basically she's Crossing it Hotel benefits Uh basically Airbnb's kind of getting kicked out of New York or there's a lot less of it Ukraine gains ground so that's a little bit of a military update, but more so he's going to be in the U.S this week meeting with the Senate and also with Biden basically coming with his tin coffers to ask for money. So I we have some things to go over here and then also a little bit later on in the show I Want to go through these proposals I've lightly read through all of them, but the a little bit that I did read once again, not really speaking legalese I found the AMC proposals to be very very concerning I think some of them are evident yes, votes and I also think some of them are pretty evident. no votes Anyone telling you to vote Yes across the border to vote no across the board I Feel like they haven't really gone into it, but my particular concerns are Three, Four and five. I Have particular concerns about Three, Four and five because to me it seems like three and four are taking power away from the stockholders as in you and me and then five is basically saying hey, uh, we think we might have messed up so we want a get out of free jail card and then obviously with compensation and stuff I Don't think they really deserve any money whatsoever, but hey, that's just me.

And on that particular note, the casino is open. Best of luck to all. Play responsibly if not have thought oh sorry I was still on the fancy schmancer announcer voice actually I Wanted Tesla up Tesla in videos getting rocked this morning Nvidia is getting rocked uh what did I wanna do here? I Wanted to try some degenerate stuff out of the gate. Uh, let's see.

Let's see. Let's see. Let's see. let's see.

So this is the NASDAQ on the right side of your screen and then this is the S P 500. So the prop account is currently at 51.2k Obviously to pass it, you need to get up to 53k. Uh, let me see. I was a little slow with my own reaction time, but I was probably I was trying to get in at 9 29.

um and just do a quick Market open type of a deal. You know what I might do I might just go for it. order filled. let's just see if it hits I don't know if it will or won't just throw it in an order.

No real reasoning Target Fill Boom hundred eighty dollars easy and people act like trading is hard folks. Take your fundamental analysis, take your Technical Training take whatever you need and eat it out of the window. It's stupid. This is the casino and all you have to do is have enough balls to put your money on the table and you just pick.

You're like I think it might go up and then you go boom. You click the button and that's how you make 180 easy peasy lemon squeezes and people act like this. This game is hard dude. it just crushed it.

Just risk management. all that. How about you just throw your money on the table and see if it hits? How about that? How about that? Wall Street Yeah, I Think that deserves a Wall Street Here we're going to get some. Wall Street Going walls right there Wall Street Wall Street Hell yeah brother, Hell yeah brother.

Ooh what are we doing here? The I'm looking at the Futures Market things are not looking the best this morning. Well the queues got their upside Gap though from the low. Obviously we opened up below the low from Friday and it just pushed upwards so that Gap feels taken care of. and then the Spy didn't have a Gapville, but there is still a previous one all the way up to 440 772.

So if you were an astute day trader, you already got that upside back. Gap Fill on the cues and congratulations to you. Congrats Congrats, Congrats, Um, my question to all of you made more than Matthew you did. Trex Trex How much did you make the dead money? Anthem Hey, you don't say that that's not nice.

Uh, it's because the contracts of some shareholders is up about rum. Yeah, so I think people are thinking that there's Insider selling on rum. But at this moment in time I'm not aware of any reports that they actually have CBS News Russell Brand accused of not safe for work, bad stuff, emotional abuse uh, comedian denies allegations, you know? I'm not sure we should be able to report on that type of stuff because the public, the court of public opinion makes their decisions before anything's actually out there and it is very easy to ruin someone's life now. I kind of watch what was going on with Russell Brand and right away he's like, nope, didn't do it.

He wholeheartedly disavows that any of that happened. Uh, and if you do it right away like that, I mean it's kind of awkward when people are quiet about it I don't know what to say, but when people are confident enough that they didn't do it and then they just come out and like, no, did not do it, it does seem like a smear campaign of sorts now. obviously I wasn't there and I'm not here and I don't want to be the person who's victim blaming or just saying like blah blah blah. but like the timing of it seems a little bit suspect.

All I could say is based on the current set of information, just based on what's out there. publicly. It does seem like Legacy Media is coming after Russell Brand the way it has people in the past. but that's a tough thing to say because obviously there are guys out there who are complete scumbags and they do deserve to face like some sort of legal system.

So it's really tough. Uh, it really really is because there's absolute scumbags out there. But it's on both sides. There's absolute scumbag dudes who do that type of thing, but then on the opposite side there are scumbag women who accuse men of doing things that they haven't done.

and that's it's. just so tough because like, obviously, each single story is a different one and what matters in each story is the absolute truth. So to like to try to throw a generalized blanket like it's just so tough because people lie in both directions and it's a very, very egregious thing to lie about. My only commentary on it is if if this is a big Capital if if someone accuses you of such a heinous crime and then it comes to light that they're lying I think that they should be punished with what that normal punishment would be if someone was found guilty.

Um, does that make sense? Did I say that rightly? Did I say that rightly? Did I say that correctly? If you were found to be lying about a heinous crime, your punishment should be the punishment for that heinous crime, a false accusation because it does legitimately ruin people's lives, and then the same thing on the opposite side. if you did that heinous crime. if anything, I'd be the first one campaigning that the the punishment should be worse. Um, I'm not arbitrarily just gonna side with all the dudes I'm not arbitrarily going to side with all the women like I Think the thing to do is say okay, you've brought a credible thing forward.

Let's look into the evidence I Think that's the appropriate thing to do and it's really, really tough. Like it's tough because I know sometimes people they don't feel comfortable going forward and then on the other side you have people lying like it gets messy and if anything on both sides of it, it just sucks that people are such scumbags. It really really does. People have killed themselves over false accusations.

Yeah, and that's super sad. But on the flip side, people have probably killed themselves because something legitimately bad happened to them. or maybe something legitimately bad happened to them and no one believed him. I Think it cuts both ways and that's why I don't want to be here saying like oh, I'm always just generically going to believe that way Oh, I'm just going to leave that way I Think as just a person in society, the appropriate thing to do is take each case for what it is and don't really apply any of your pre-existing biases or anything else like that.

Uh, it, it's sad. It really like just the fact that this does happen and either it's true and a heinous crime was committed or on the opposite side it's a lie and I still consider that to be a heinous crime. So for me, it's still just like crazy that no matter what it means, some form of a heinous crime was committed. That's that's crazy.

Um, people suck. That's that's one way to say it. TW Uh uh. The girl that is making false accusations against tape has done it eight times in the past and one man even killed himself in their text from her that it was fake.

That's crazy I don't I'm not the most knowledgeable about that. Um, that's that's. absolutely nuts. Crazy Crazy crazy.

All right. Well, while the market is opening up, there are a couple things I want to get into. Remember the major Market mover this week is the Fomc decision coming out Wednesday at 2 pm ET and then Jerome Powell will be speaking at 2 30 and that's really what's going to move the market? Yeah, I'm not there yet. You're right to say there's been a great deal of data I think roughly the way you described it is right.

One little Nuance I'd make is the core inflation number ticked up on a month over month basis for the two readings we saw which I think will raise a few eyebrows. So where I am is I think there's likely to be a pause here, but a clear possibility that the November meeting is as they say, a live meeting. We are now done and partly because some of the factors as you talk about which is Apple's having a great day shows that while there are you know it's snowing in general, there still could be some things that drive inflation pressures in the wrong direction. So I think this meeting is a pause but with the possibility of one more rate hike and they'll tell us because they're also going to release their Um summary of economic projection so we'll see what they're thinking as well.

excuse me is China bottom do you think Roger and I'm again I'm thinking about oil and and how that's going to impact the fact because it definitely does filter through to everything we do. you would think and it it's inflationary but then again with China week maybe bouncing and oil you know they they buy in Petro dollars too I think so you know it's expensive there as well. So those see those things could be deflationary or inflationary. Well, you're right to talk about the the double-edged sort of of things such as China potentially slowing I emphasized potentially because you know they're going to be working pretty hard to keep their economy on track.

They have fewer tools than we do in the US um and so I think the reason the FED is being quote data dependent and as as Powell said in this speech at Jackson Hole will proceed cautiously is because the incoming data is not all pointing in One Direction You know, as he said in his speech, there's a disinflationary process underway, but inflation is still, you know clearly above the two percent Target labor markets which they've been focused on absolutely softening. but we still see as you've been reporting a lot of restiveness. so we call it in in the labor market. so I think this is the time for the FED to proceed very cautiously and in no way should they say we are completely done because I don't think they really know that just yet.

and I think they want to be, uh, have the flexibility to do one more if need be. but Roger just one more I mean because most of the market commentators we we speak with around just say that Okay, it's basically the same thing. either they're done or another 25 basis points. that's not going to tip the scale too much I Think that's part of the story here, but um, because indeed, you know I've seen a few economists that are even talking about a couple more a couple more.

I think the data are really I think that must be getting more kinds of impact that they want. But yet, um, as we've seen, there can be some upside surprises, so that's why I'm thinking a pause here open to another 25 basis points and as you point out Becky the probability of 25 basis points is going to tilt us dramatically one way or the other is not great. but given the fact they started late I think they also want to be careful not to stop too early and so I think that's another thing that's factoring into all of this without a doubt. and now just to put a bow on it just so you guys can see the current odd situation.

99 Chance that on the September 20th meeting, there's no rate hike. we are currently at 5.25 99 chance that we stay at a 5.25 I don't think there's any rate change. Now the the chances of getting a rate hike do increase. they're dropping now.

Previously when we were like going over this, it was 40. Now we're down to 34. So trapping ever so slightly. but that's an increase of 25 bibs at the November meeting I wouldn't look too much into this because the numbers really Shore up the closer we get because between now and then we have CPI reports.

We have PPI reports. We have Pce reports, We have retail sales reports. We have uh, unemployment reports. There's a lot of reports that will directly impact the likelihood of what's going on here.

So I Just want to bring it to your mind that there's a non-negligible percentage chance that we get some sort of rate like in the November meeting, but not really in the September meeting. Uh whoa. The Spy is getting cracked. All right.

Boom brother. All right. this is on my actual account. I'm trading I'm working on some stuff's home.

I'm not the most confident in the strategy right now. so I'm TR I'm not trading the mini. I'm trading micros. So basically seven minis or seven micros is 70 of a mini micros are smaller.

They're one tenth of the size of a mini. so instead of every movement being fifty dollars, every movement's only five. But since I'm training seven of them, I'm training a little bit less than one mini position. I'm trading seventy percent of a mini I have seven micros and this isn't really my profit.

Target I'm just moving it down to move it down. But really, I'm seeing if I could catch this failure. So obviously what I'm looking at is the market punched to the upside and it couldn't hold there. Basically we see both the spine, the queue trying to get right above the low from Friday punch above it and then got smacked.

Now obviously the one thing that's on my mind is this could be a fake out liquidity grab because the Spy just made a new intraday low and sometimes we see this type of crap where they push it down, make a new low, and then pop it right out of there. So if it does pop, basically if it comes back up to 440 360 I'm just gonna say okay, it was a liquidity grab, but the reason I'm a little bit more bearish bias on the day which I know is going against seasonality is just because what I'm seeing in the daily chart we try to push up last week and then it got smacked hard on Friday and right now we're at this breakdown level. so I know it's not smart to be shorting at a breakdown, but that's why my risk is really, really close. really really tight because if it does capitulate from here, well I get to ride it all the way down about a dollar and a half 1.75 which would be a very nice return.

Same thing with the cues I see that the cues it did gap down got the upside Gap though. but it's battling it out at this trend line. so it's this situation of do I know where we're going today? Absolutely not. Absolutely not.

It's about a 50 50 chance. maybe we'll be bullish, Maybe we'll be bearish. It's really all about can you control your risk And right now I see that the EMAs are pointing to the downside. So this is the EMA Cloud But really, it's just a better way to visualize the EMAs I see that we're pointing down I see that all the major EMA time frames on the 10-minute chart are to the downside.

so I want to trade with the trend to see if I could hold it all day now. obviously if it reverts and comes back right up here. All right. I'll admit that I was wrong and I'll get out for a loss and that sucks.

and then if all the EMA switch back. overall just take a long position. but for me, when I see that we try to get above the low from Friday then it gets smacked at such a key level 4500. Okay, obviously there's some sellers now I know we're only about 15 minutes into the day, so there's a lot of time between now and the end of the day.

but I think it's a reasonable bet and the reason I'm really arguing that it's reasonable is not so much of my confidence of today be being a bearish day because once again it's mainly a 50 50 chance, it's more of I. Just know I have a reasonable risk I am okay risking 350 and if this continues to sell off like if a what I'm in at 4 400, let's just call it 91. if it goes down to 4480 I'm gonna move my stop to break even then I'm just playing with the House's money and I get a free ride for the rest of the day. So that's a trade on the S P 500 and obviously I'm just looking for this breakdown to continue.

but I am not here preaching to you that I'm def like absurdly confidential breakdown I'm just saying I like the risk reward of this situation favoring the Bears right now, so that's on my actual trade. Remember if you see this, this is the prop account and then if you see this, this is my actual account. Um, just so just to be a little bit more clear and transparent on all that. Well, while we're waiting for this trade to play out, shout out to today's stream sponsor Streepy.

Uh folks. Obviously the reason I get to do this day in and day out is because of sponsorships like this. Streepy is free to download and you can get a free one month trial by using the code map. If you haven't heard of Street Beat before, I Find that hard to believe if you watch any of my shows, you know I've been partnering with them for months now.

It's a robo advisor. It does not accept payment for order flow Kickback if that's a concern of yours. so you can buy and sell stock the way you would on any brokerage. But really, what sets Straight Beat apart is the fact that they're using AI Namely, a lot of data crunching.

this that the other thing and Chachi BT to have their own trading strategies so they had some pre-built ones. They have basically a room of fancy smancy smart Quant people and they have strategies like a bond ladder one one that buys when Congress buys one that sells when Congress sell. Also, it's always looking at political trades. Then they have one for top government contracts.

they have an AI one so they have some pre-built trading strategies that you could use I myself am in the bond one and the Congressional buy and sells one I Want to see what Congress is doing? but on top of that, you can make your own. So if you're like hey, I want one that's in the commodity sector in a high place inflationary environment like that type of a thing you can create your own with AI and obviously no harm, no foul because it's a 30-day trial. So use the code Matt see if it's appropriate for you I really, really believe that if you try this out, you're going to enjoy it now. I Know a lot of people are thinking well, hang on I already have money in a different brokerage I don't necessarily want to open another account somewhere else and divvy up my money.

They now have Partnerships with most major brokerages, so you could use the street B trading strategies on a different brokerage. you just have to connect the two and it's pretty evident how you do it. But anyway, either break out your phone right now, scan this QR code or just download it from the Apple store or the Google Play Store It's free to download and use the code Matt to get a 30-day free trial pinned to the top of chat in the description of the video. Obviously, shout out to Streetbeat for making sure sponsoring the stream and shout out to all of you of the people who check out the sponsorships because obviously it's the engagement with sponsorships that keeps coming them back and back and back.

So if you're looking for a very interesting retail Centric Retail Forward Robo Advisor Check out Street Pinned to the top of Chat in the description of the video. All right. Market's still looking a little heavy. the tech sector looking a little bit better today Tesla Getting crushed Apple Actually looking decent.

Let's check in on some of these other ones. Um I Want to see what's going on with oil oil still chilling in the low 90s? Uh, what else do we have going on today? Let's go actually to this. So let's go through all the sectors. So XLE actually from Market open till now, energy is actually taking a hit, but if you look at a larger time frame, it's actually looking pretty bullish.

Uh, Xlk, This is specifically just the tech sector that's Xlk looking pretty strong this morning. very similar to the NASDAQ Uh, let's look at utilities. utilities are getting hit this morning Industrials are also getting hit this morning Healthcare which is under XLV is also getting hit this morning and the other major one is XLF. So I'm seeing a lot of weakness in pretty much every sector except for technology and that's kind of interesting because technology You could argue has the most impact on the overall market.

So there's one sector doing well, and that's technology. All the other sectors are running into a bit of a bearish trend. Um, so if we see Tech turn today with everything else already going to the south side, there's a pretty solid chance that the Spy takes a hit. But obviously Tech has enough sway, enough power, enough magnitude that if it pops, it might be able to pop enough to undo all the bearish movement across the other sector.

So paying attention to that Tesla particularly taking a hit this morning, and Nvidia was taking a hit too, but making some form of a recovery right now. Uh, thus far looks like we have a bit of a liquidity to grab, but I'm just curious if this is going to end up being a double top on the Spy right at 443, especially because it's so close to this 4 500 level on the S P 500 futures level. But we are basically battling it out with the low from Friday. Right now, the market is trying to decide if it wants to be bullish or bearish.

These red lines that I have are the lows from the previous days and then the dash red lines are the low from two days ago. So looking to see if this is a legitimate breakdown or if it's a fake outbreak down and we Bounce from there obviously I took a stab at it when I saw this waterfall a bit. I took a bit of a bearish position. But my risk: I'm not going to be like changing it.

um, to make it risk more. If anything, if I move my risk, it'll just be moving in to break even. But I'm going to give it a little bit of time to breathe. obviously as of now, as of what is it? 9 52 in the morning? Uh, it looks like this sell-off to push to a fresh low below the low of Friday uh, looks right now to be a bit of a liquidity grab because they push it.

popped it up. they try to push it again. popped it up again. but I'm just going to give it some time because it's really not arguably any other sector besides.

Tech So if we see text start to turn, I'm looking for the cues to fall and then I'm looking for the spider fall. But if tech continues to push to the upside the way it is right now, we could actually see a pretty decent recovery in this buy. and that's exactly why I have my risk set. actually.

Speaking of that, do I need to update my risk? I Was trying to get in right on the breakdown of this opening bar and in one of my favorite just for a second, but kind of double bottomed at some some of these lows we saw at 9, 10, 9, 20 in the morning. but just gonna give it some room I'm sticking to the system and honestly, that's one of my favorite things about any form of systematic training is it takes your emotions out of it. You know exactly when you're getting in, you know exactly when you're getting out in terms of a profit and also in terms of a potential loss. So for me, it just takes the emotion out of it because like I'm trading the system that I back tested I know the numbers I like the numbers and I think with enough trades over a long enough period of time, basically a large enough data set uh, I believe is going to be net profitable because I've looked at how it's performed historically Now, obviously just because something works in the past, that's like no guarantee it's going to work in the future and it's definitely not a guarantee that it's going to work every single trade.

That's why you're looking it as a whole system, not an individual trade. LOL Matt is Market liquidity again. My ad was for Trojan Mini sorry Matt's totally Real Fine Fiance yeah, I picked that I'm I'm attempting to become the spokesman for Trojan Minis, but here we are foreign. I got a Weeble ad.

Honestly, I don't really have much of an issue with trading options on Weibo. I mean you guys have all seen me I've traded a lot of options on Weeble I Just don't really choose to use it for my stock because they engage in payment for order flow. But if you're trading options, there's no way around payment for order flow. Remember equities stocks are completely different Market than options.

If you're trading options, you're engaging in payment for order flow. That's how the options Market works. There's no way to