's up all you cool cats and kittens. This is your market wrap up for for monday july 25th. I'm matt and let's get into it what i to call. Today's video wrap up is basically the calm before the insane crazy high volatility.

Storm yes we saw that play out technically today in the price action i know it might not feel like it. But it did and i want to get into some of the macroeconomic announcements coming out this week. Make sure you're paying attention and then also what in the world is going down with all the earnings announcements and i also want to talk about a stock that looks like it might have got full on short squeeze today. I'm talking about rdbx redbox before we get into all that though if you enjoyed this type of content.

I'd appreciate it if you could show me a little bit of love destroy that like button. And don't forget to join up with the moon gang by hitting the subscribe button. Now that we got all that out of the way let's go see if we can find carol baskins. I'm still on the big screen.

I know if you watch any of my videos. I'm usually in a little box right about here by now what's going on well. I'll answer that right now i want to set this up right. I know if you've been paying attention to the economy to the stock market maybe to the whole global geopolitical situation.

You kind of get a sense that things aren't the best to the point. That you're like wow. I wonder if the market's going to go down by a lot potentially crash maybe are we going into a recession well fear not don't you worry i have exactly what you're looking for time to get rid of all of your fears. Today at a press conference.

President joe biden. Said in reference to the upcoming gdp report. We're not going to be in a recession in my view god willing god willing we're not going to do that and in my view this sounds like the president's style of saying. Not financial advice.

If i have to be honest. Now obviously i'm kind of poking at this because this is absolutely ridiculous. And really just watched the video from yesterday of how in real time. Our government is saying well actually we think we're going to change the definition of a recession.

Just so we can say we're not in a recession. This time around even though we're totally in a recession. Because i want to get re elected type of a deal. Hey.

Who knew politics could be so fun speaking of the market here's where we're at today in post market. We're having a pretty nice pop. Anyway the s p. 500 actually green on the day up 012.

Percent pretty much a consolidation day it gained fifty cents the q's down point six. Percent the small cap sector actually had a pretty good day up 05. Bitcoin currently trading at 22k and i do want to talk about rdbx redbox. Because it had a blistering gain of 82.

But we will get to that so before we do the technical breakdown of some interesting things that i just want to point out to you in the market. Just so you know um uh pretty much like the opening was the close like kind of a scratch day a premium burn day and that makes sense because we have a lot of different announcements. Macroeconomic and earnings coming out this week. So this is kind of the calm before the storm.

The consolidation before the expansion. The golden question is what direction is this expansion gonna be in now. I'm if you're looking for that answer in this video. Sorry i'm not a fortune teller.

I can't tell the future. I do i'm not clairvoyant obviously i'm not a financial advisor. But right here all i can tell you is watch either the breakdown from this low or the breakout from this side. It's pretty much that ride the trend.

I think sometimes it's super easy to overcomplicate this. But are you making higher highs higher lows or are you making lower highs lower lows right now. It's pretty tough to argue with the fact that we are clearly in a short term bullish trend. Obviously the money's made to the upside higher highs higher lows.

Things are looking good so just pay attention for when we finally start to break down that might signal a pattern change and for those of you who maybe are a little bit more into like this type of depiction you saw how the open and the close it was a sliver of a body so there wasn't much difference well that's pretty represented here. If you just take a line across it bottom left top right these were a little red. These were a little green and we got a no nothing day now tomorrow tuesday july 26th. Before the market opens.

We are going to get the national home price index the homing the housing market. I should say and homes have been a little bit questionable lately they've been coming. Down so it'll be interesting to see what that is 9. Am we get the consumer confidence index 10 am let.

Me know as a consumer are you confident comment. It in um. Below. The video uh new home sales 8 30.

On wednesday july 27th. We're going to get some important things obviously durable goods some trade stuff. But it all really goes down at 2 pm. We are going to get the results of the fomc meeting the federal open market committee meeting basically where the fed decides how much are we going to raise interest rates by and then the chairman of the fed will be speaking at 2 30.

As of now. There's a 75 percent chance of a 75 bit rate increase and a 25 chance of a 100 bips rate increase. The meeting technically starts on tuesday. It's a two days meeting ends on wednesday.

We get the results at 2 pm et. And if you're curious yes. I will be streaming the whole thing then on thursday. We're going to get gdp.

Which it seems like biden's already setting it up okay. We're totally not going into a recession. And that's just because in real time. I can change the meaning of recession.

I love this stuff. It's so crazy it feels like a reality show that has a horrific impact on all of our lives and then on friday. We get the pce numbers this whole week is going to be crazy high volatility and i know on the day. We didn't go far.

But look at what happened intraday. We were all over the pace down up down up huge down huge up so volatility is going to get higher and higher for the remainder of the week. Please remember that and it's going to get even more extreme. I mean look at all these earnings so tomorrow before the market opens ups coca cola gmge mcdonald's after the market closes get ready for a party alphabet microsoft visa then on wednesday we have shopify boeing spotify ford facebook aka meta i like facebook a lot better as a name thursday then we have apple amazon roku.

Intel. And then some energy plays on friday. It's gonna get crazy so you take all this with the fed meeting with the pce meeting with the consumer price index with the gdp report. It's a full on party.

I don't know what else you need well. Actually. The cherry on top is our president saying totally in my view. Even though.

I've never studied economics ever i think we're fine. I totally think we're fine don't worry about it bro now in terms of the s p 500. I was alluding to this a bit before i think sometimes this is over complicated ride. The trend of a larger time frame.

I'm not talking about the minute charts right here. I'm showing you the daily. But whatever the larger time frame is that is appropriate for your trading style pay attention to it basically are we making higher highs. Higher lows or lower highs lower lows ever since july 14th higher highs higher lows.

It is undeniable that the short term trend over basically the past week and a half has been to the upside. So i'm very cautiously watching all these recent bottom. Weeks we got close today 39275. Instead we hit 393 21.

So we were off by about 50 cents. So pay attention to that because that might signal a change of trend and obviously with the myriad of things i just listed we have a lot of catalyst events this week. If they're all good. I'm looking for this gap fill rip for 150.

Potentially even higher or if we start to get hit with some bearish aka hawkish news. We might start our return trip. Maybe a little closer to 388 maybe the gap bill at 379. I'm just watching the previous days highs and lows as an indication of what's going on there was a little bit more bearish news.

But we saw it in the tech sector. Which has me a little bit concerned and right here. As you can see in the s p. 500.

Which is a lot of these big tech plays. But a lot of also other industries. The low is getting higher and higher and higher. But starting on friday.

We had a weird outside day where the high was higher and the low was lower friday relative to thursday and then monday relative to friday. We now have another new low. So the tech sector in my humble opinion is showing a bit of weakness. And that has me a bit concerned because this week we have a lot of big tech plays google meta apple amazon roku intel they are all reporting so the fact that i'm seeing a little bit of weakness here with the macd crossover has me a little concerned.

But obviously. This is pretty much a binary event of are they beating or are they not beating. But i have to say the fact that snapchat missed pretty horribly last week has me a bit concerned to these other related. Let's say social media.

Ad. Revenue based plays such as facebook. So obviously time will tell. But once again this is the calm before the storm.

But there were a couple storms today and the one storm. We'll call it redbox bullish rips to the upside. I don't know what you need to call it but rdbx ripped 82. Today so very quickly just to see what that looks like in the bigger time frame.

And then i want to go over some things we got rejected at this resistance from july 7th. At 6 65. So you're looking for that you're looking for this breakout of five to now turn into support so five from there i'd pay attention to four. So i'm paying attention to four five 665 and then 850 those are the levels of support and resistance.

I would personally pay attention to now in terms of what's going on underneath under the hood. The short interest is 59 the cost to borrow is a scorching high 432. We are on the threshold list the utilization is maxed out the shares on loan is 286. Million.

The fact that this equates to a short interest of 59 tells me that it's a very low low float. But i do want to clarify some things first of all i've never had a position on redbox and i'm not going to have a position on redbox. Why am. I not well first of all if i went long.

I'm already late to the party. Because it ripped 82. Today. And i don't think that's smart to chase after an 82 ripper.

But more important than that or the weird shenanigans. We saw play out a couple weeks ago when either the occ or the nasdaq stop the trading of options. You cannot open new calls. You cannot open new puts at least at the time that i called td and all these other brokers to say what's going on and like hey.

This is passed down to us from either the occ or the exchanges. It wasn't really a brokerage issue. So that to me just had like kind of a sus feeling of oh. They might rug this whole situation.

Hey. If you're in it i hope you crush. It i'm just trying to be transparent about like my thoughts and opinions and i absolutely hope you make it killing this play is just not the play for me. But i do admit.

It's interesting a very very high short interest a very high cost to borrow it's on the threshold list. The utilization is maxed out. And it's a low flow. There are a couple things i want to clarify first of all if i were in this like if you're like twist.

My arm like matt. How would you play what's your price target. Whenever you're talking about any short squeeze play price targets are silly. I don't care.

What short squeeze play you're talking about if you have a price target. I wholeheartedly believe that is the wrong way to engage. I think the best way to engage is ride the trend and all i mean by that is as it keeps going up and maybe you see some like clear dips on certain time frames. Like okay.

Here's an obvious dip around 5 13. 5. Something like that that could be your support and as you keep getting away from your entry. You can keep moving up your stop loss.

Don't get caught being a bag holder. I beg that up of you if it starts to come back down. This could legitimately play out the way it did before where rip rips and then it dump stump stumps. Don't get caught up in a pump and up.

I don't know where this is going to go the price target isn't the game just keep paying attention. But i'm telling you when you see these types of moves as soon as you see your first red day especially your first red day that goes below the previous day's low that's a massive red flag in my book if you're in it i hope you crush it ride the trend. Hey there might be a full on squeeze. Remember we're on a two day settlement cycle.

The shares on loan. Let's just call it three million well today we traded a volume of 108 million as in yes all the shorts could have covered today do i personally believe that they all covered today no. But why does my opinion matter at all like we're gonna find out in two days. Which is because of the t2 settlement cycle.

That's the earliest date. We would find out about shares being returned. So you have to wait. But overall is it theoretically possible that all the shorts cover today.

Yes. Do i think that that's what happened no because they've probably been in it for a bit longer or they have it hedged in a certain way. There's many things going on that just to see a hundred percent of all shorts kick down in one day. I just don't really think that that's likely.

But we'll get a better idea in about two days to see what the short interest is and we'll know what the quote unquote damage was done today overall. I'm going to try to keep this at wherever. The video length is right now because the ones for the remainder this week are going to get a bit longer because we have a lot of craziness to ensue. I hope you crush it today and i hope to catch in the next video have a beautiful day.