JOSH BROWN says "THEY HAVE AN UNBELIEVABLE PRODUCT" (08/05) Stock Market Analysis by Blue Cloud

Blue cloud trading through the night. >> Welcome back to the channel everyone. In just a second, I'm going to play a few CNBC clips from today's episode of the halftime report. I'm going to pull up the charts and dive into the technicals of some of the mentioned stocks. We're going to look at the key support, resistance levels, momentum, and see if the price action actually backs up what the talking heads are saying. Hit that like button. Subscribe if you haven't already and let's roll the tape on the first clip. >> Carl, thanks. Welcome to the halftime report. I'm Scott Wer. Front and center this hour, the record run for stocks. Whether 8,000 is the next stop for the S&P, we'll debate that with the investment committee. Joining me for the hour today, Joe Teranova, Liz Thomas, Jason Snipe, farmer Jim Leventhal. Let's check the markets here. We we are losing a little bit of steam. Dow is still green though. We're red. Uh otherwise we are extending record highs for the most part and there's a fair amount of bullish commentary that I want to lead our show off with today. Not just from our very own Josh Brown yesterday on halftime who said this was one of the healthiest tapes that we've ever had. Wolf Research today is the next stop 8000. Ed Yardi yesterday on closing bell with me 8250. He said that might look too conservative thanks to strong earnings. And here's Goldman's president, John Waldron, with Andrew Ross Sorcin today in Aspen. Pretty positive as well. >> I would say the most important factor right now is earnings earnings growth. You know, earnings growth continues to be really strong. Uh we're going to have the second quarter was the seventh consecutive quarter in the S&P of double digit earnings growth. So, we've had very consistent and significant earnings growth, which is propelling markets. That's ultimately the most important fundamental driver. And I would say recently it's broadening. >> Okay. So it's strong. It's broadening. And until that changes, you want to get negative. >> No, I don't think you want to get negative at all. I think you want to understand where capital is flowing to and then understand what the potential risk is accordingly. Uh we've seen in the last several days a return of the momentum factor in particular, isolating memory, semiconductor, and even the MAG 7 itself. really strong day today from Nvidia kind of coming out of nowhere. So where is the risk in all of that? Over the last several days, you are seeing the S&P uh market cap weighted outperform the S&P equal weight by 4%. So I would believe the risk as you move through the entirety of the summer is you lose the broadening narrative if the market Scott gets concentrated again. You do not want a concentrated market. That's a marketplace where portfolio managers like myself will underperform. It's a very challenging marketplace and it pushes all the chips in a very isolated direction. That's the risk in the market. >> Yeah. I mean, but what's the realistic risk? Because if you listen to Waldron and others, if the earning story itself is broadening, >> so and it and it's strong outside of tech. >> Yeah. >> There's not an indication that your biggest risk is >> going to happen. So, no, no, no, no, no. So, what I what I You're always sitting there saying to yourself, what can go wrong? I hear you. So, I'm I'm sitting here today, my strategy, Jot ETF, alltime high. I'm sitting here saying to myself, okay, what can possibly go wrong? Where does that begin to reverse itself? >> What if what if we what if we're though entering a market where you need to start thinking about what else can go right in terms of if you're getting broadening earnings? Oh, Jim, he's shaking in his head. He's smiling. If you're getting broadening earnings growth like Waldron's talking about and others are obviously focused on to why stocks can can continue to go go up from here. >> Maybe that's the more apppropo question today. >> Well, and I feel like we you and I had this conversation maybe two weeks ago. Remember the other 493 versus MAG7s on earnings growth. And as we look in the second half, we're going to see that other 493 companies, their earnings growth probably surpass that of the MAG 7. Um, but you're also you're seeing it in the stock price reaction. I mean, let's consider things like Delta Airlines or the airlines in general, just kind of pulling that out of thin air. But when you have a good economy, when you have broadening profit growth, a company like Delta is going to be approaching new highs as it is right now. And not just new highs, but a rerating of the multiple or Joe, as you and I spoke about yesterday, you know, financials. If we weren't having this tear the cover off the ball rally in semis, we'd be talking about the rally in financial. >> We're going to be talking about that because they have made a nice move. Um, and there's some kind of stealthy moves that have happened within the private equity prism. Uh, I'll get to all that in a minute. I do have some news that I do want to get to. Mackenzie Sagalas, it's regarding Alphabet. What is that? >> So, Scott, we're seeing Google shares down around three and a half% now. The company reshuffleling the leadership of deep mind as Dennis Hassabis moves into a new chairman role that's going to be focused on frontier research and then the broader implications of AGI. Habis will remain active but with more time now devoted to AI safety and policy scientific research and medicine including a bigger role at Isomorphic Labs. That's a drug discovery side of the company that he launched after DeepMind's Alphafold breakthrough. Now, also as part of this reorg, you have Karai Kabuku, who will take over day-to-day leadership as the new head of Google DeepMind. Now, he has already been running much of the lab's model research since becoming Google's chief AI architect last year. So, the company is framing this as a natural transition after getting Gemini back on track. And then separately, we're also seeing some departures. Longtime Google chief scientist Jeff Dean is leaving after nearly three decades to start a new company with several other employees. Google plans to invest in that startup which will also partner with Google cloud. So the department uh this departure rather is said to be amicable and Google doesn't plan to replace Dean as chief scientist that position was really created for him specifically to report into Sundar Pchai. What I will say though Scott and perhaps why we're seeing shares move lower is that this comes after a series of departures from Google DeepMine including John Jumper Anthropic uh Nome Shazir to OpenAI uh before he left Shazir was working on Gemini. So, >> okay, >> that's how investors context. >> Yeah, >> I appreciate that, Mac. Thank you. Okay, that's Mackenzie Sagalis. We'll watch that obviously with shares down a little more than 3%. I want to get back to to our conversation though on where this this market uh Liz is going to go. Uh 8250 conservative potentially according to Yardi because of the earning story. It's not it's not it's no longer FOMO, it's FOMO. It's the earnings momentum that this market has and that's what he has been hanging his hat on. And as you heard John Waldron suggest too, we're in broadening earnings story. Don't just tell me about what tech is doing. I get that the numbers are enormous in terms of the earnings growth, but if you're talking about 12% for other areas of the market, that's pretty darn good, too. >> I think it's very difficult to get pessimistic about this market. You've got internal strength. So 73% of the SMB S&P above its 200 day moving average. We've had this huge rebound after a momentum wash out. momentum that Joe is the expert in here. But I think the risk on on this momentum rebound is that it is just that a a really swift rebound and you could see it come back off of this strong momentum right now. >> There's plenty of talk about that today too by the way. >> And that usually happens, right? We I mean semis went down almost 30% in that wash out. So momentum died for a while and I'm sure was very frustrating for Joe in some of that. But you usually do get a swift bounce. This is actually one of the swiftest swiftest bounces we've ever seen. So >> yeah, right. You had one of the you had one of the fastest declines and then one of the fastest bouncebacks that we that we've ever seen also. >> So the risk is that it cools off, right? That it came back a little bit too strong. But there are a lot of other things to be positive about. Financials are still strong. I always look at financials as confirmation of a rally and confirmation of cyclicality. We've got almost 90% of financials above their 200 day moving average. That's huge. So, I do think that for the rest of the year, we see a return to large caps. I don't see small caps outperforming large caps for the rest of the year. >> I mean, small caps, speaking of or that Russell's up 22% year to date, >> right? And and that's a good performance year to date. I think that in the second half of the year, we see a return to large caps because I do expect volatility, but I also do expect this market to continue moving higher. I mean, 8,000 is only three and a half%. >> I know it's funny asking, is 8,000 the next stop? It's like now, okay, it's literally around the corner. It looks like it's almost a, dare you say, a formality at this point, but if the earnings continue to live up to the hype, why wouldn't you get there? Then you have to start asking the Denny question, 8250, whether Jason Snipe, that's a little too conservative and and maybe part of that hinges on where the momentum trade does go from here. I think Liz made some really great points that are being talked about elsewhere on the street today. Jonathan Kinsky says the reflex continues but shades of 2000 continue to pop up. How quickly things change. He says a week ago semis were in a 30% uh around 30% draw down. We called time on the momentum unwind. Fast forward to today. We've seen the largest 4-day rally for the socks since co >> the S&P has surged 5% over the last four trading days into a 52- week high in the last 30 years. That's only happened three other times, including March 21st of 2000, which was dead highs of the dot bubble. Jeff Degraph of Renaissance Macro, he's going to be on closing bell with me today. Says time and drift are typically momentum's enemy from here. What do you think? >> Yeah. No, I mean, it's been a very interesting last few days and I think the setup has been interesting to me in the sense that July was a down month. There was a lot of churn, violent churn, right? You talk about the the draw down in semis and when we look at the math obviously the impact on the market from that perspective but when I think about what earnings growth is and I know this has been the theme this is what we've been talking about all week 29% earnings growth 65% rate have reported so far an 85% beat rate I mean these are very significant numbers and to Liz's point um there are other sectors participating financials healthcare has took a little bit of a step back in these last few days but they have been participating Can you get to 8250? Sorry to interrupt you. Can you get to the the Yardi number if momentum does sort of roll over again? Cuz then it's a heavier lift. Even if you get some of the the bigger financial names to participate more, it's going to be much harder. >> No doubt. There's no doubt. And I think because of the math, I think momentum has to play a significant factor in us getting to 8250. And I think that story continues because of the earnings growth that we've seen thus far and the guidance, right? It's not like um the spending is slowing down. The spending is only increasing. We're seeing profitability in the cloud numbers, you know, from the hyperscalers and the downstream effects into other sectors. So, I'm I'm very interested to see how this continues to play out, but I'm I'm excited about what I've seen thus far. >> Kitsky goes further. He says the bigger issue we see is the market's been playing musical chairs as money is sloshed from momentum to value and now back to momentum. At some point, the music stops and participants might not be able to find a chair. >> All right, here we go. Let me explain this. The market does not need catalysts to continue to move higher. We know what the catalysts are. I remember clearly back in the late '9s sitting on a trading desk, sitting there quizzing other traders and everyone was giving you the bullish conditions. We know them. Tell me what can go wrong. And I am not saying by bringing forth what can go wrong. It happens. But it's the momentum factor. Where is momentum right now, today, the first week in August? Is it in memory? Is it in semiconductors? Is it in the AI infrastructure? No. It rotated into the 493, Jimmy, it went into energy. It went into industrials. It went into other areas of the market. So where the narrative falls apart is if the 493 and the broadening out falls apart as we move forward and the >> shouldn't happen. >> It shouldn't happen. I'm with you on that. I'm telling you how it falls apart. If the market concentrates back to Nvidia, if the market concentrates back to Micron and Marll and Corning, the momentum factor is not there. That's where the market has a challenge. >> Let me say two real quick things. The macroeconomists on the desk will point out that the ISM numbers that we've gotten today and on Monday, services and manufacturing are really, really high. I was wondering the same thing. It's not me. >> Stephen is an invisible person here playing that role. Well, honestly, I I mean, I thought I thought it was Liz, but I didn't want I didn't want to I didn't want to exclude everybody else. >> Like a chief market strategist for >> Dude, you need to read the bios today. >> Need to read the bios. >> I Okay, moving on. >> I'll play. >> Does she actually think that you're a farmer even though I call her one? I mean, >> I think I might yodel to you. You're so far away. I feel like All right. by design. >> Might get further, Jimmy, if you keep going down this road. >> Number one, my eyes just meet you immediately. I have to keep my eye on you at full time, full show every day. >> I I know cuz I could go off the rails. Not right now, though. The ISM surveys, there's a very strong correlation, particularly the ISM manufacturing when it's as high as it is right now, that earnings broaden and continue to grow. But the second point I want to make is your question, Scott, of can this get to 4250 if momentum bows out of the equation. I'm sorry, 8250. If momentum bows out of the equation, the simple math says that's not likely to happen. We're about 5% away from that 8250. Now, if you look at the top 10 stocks uh in the S&P 500, most of which are momentum, if those stocks went 5% higher, most of them would not hit an all-time high. Nvidia 5% higher from here is not an all-time high. Microsoft 5% from here is not an all-time high. Same with Apple. Same with many of these stocks. I'm simply pointing out that the math is very favorable. I don't think momentum is going to swoon again. But you you don't need much from momentum for those uh records to be hit. >> Let's throw up Google uh Alphabet intraday uh because we had the news of you know around departures uh related to Deep Mind >> stocks at the lows of the day down 5%. So that that's a significant move. How are we thinking about that as we're trying to assess company by company who's who's got it and who doesn't and who's going to be a winner and who may not be. What you know certain companies that were deemed to be in leadership roles at certain periods of time have then had their roles questioned. I I wonder what you all who are who's in this name? >> I'm in it. >> What do you think about Google? >> What do you think about this? I think Google Cloud revenue growth 82%. Y >> I think revenue growth 24%. That's what's important to me. I think this is a knee-jerk reaction. I think the market is reacting to a little bit of a shifting in intellectual capital. That's normal. It's normal in an environment where the stock has had a really strong rally off of earnings, but I don't think this is anything more than a near-term reaction. >> I mean, the chief scientist is leaving after 27 years. >> Okay. And I'm sure that there is I know you're playing the other side, but there is a very strong team that's in place. And I don't think that means the cloud revenue growth is going to slowly uh deteriorate because we're seeing an executive leave the company. >> I think this move to the downside is uh an overreaction again. And Joe, you said that uh I'm surprised by it. I think that there is a lot more talent in the overall AI industry than just one or two or three individuals. Clearly, these are important individuals. Nonetheless, I mean, Gemini has now gone through many versions. This is not a one-man show or even a three-man show. I am surprised by this. Um Joe, you pointed out the web services. I would also point out the chips at Google. I would point out search. I would point out YouTube. I would point out Whimos. This is um this is an overreaction. >> I mean, we're talking about one of the architects of the the AI strategy. This this is this is not, >> you know, a desk filler. I know. No, >> there's no doubt and I think continuity at at this level of leadership is extremely important as we kind of fight through this AI race and there's obviously some other significant players. But to to Joe's point, I mean we and and this is what I said earlier in terms of visibility on profits with all the capex that we've seen 82% cloud growth last quarter was 60 plus. I mean this is significant runway. I know the stock traded down because of negative free cash flow but it retraced back. This to me is a viable opportunity. >> The deputy's taking over. So, it's someone that's sitting right there alongside of an executive that has led the AI architecture strategy. >> Okay. Uh let's look at SpaceX. It is a uh another big story today for obvious reasons on the other side of the earnings report. Stocks down about 9%. It's was down more than 10, I think. So, it's a little bit off of that level. Their AI costs are soaring. I don't know if anybody is actually surprised, you know, by that. The the the conversation, I think, going in in part was, you know, how is this company going to be defined uh by those internally and how are investors going to define it on the on the outside? Uh are they going to be more viewed as a uh hyperscaler type business investing heavily into you know the the AI future? Well, their AI costs are soaring and I guess the market's not happy about that. But you also had the lockup uh which comes tomorrow and then you have a stair step as well which is going to be significant in terms of the supply coming on the market after that. Uh you do have a number of target raises and lower uh today which is interesting the battle on the street over where this company at least in the near term is going. Kevin Simpson's been a shareholder. He joins us now. We wanted to get his take here from somebody who's got some skin in the game on this. So, what what's your what's your feeling after the report knowing the lockup is coming? I've got three targets that are lowered today and then a couple that are going up. So, what where would you come down on it? >> Yeah, I mean, I think that there's a good reason to be oscillating back and forth in terms of price targets, Scott, but if we break it down, just looking at the operating report, I thought it was fantastic. Now, the stock reaction was a completely different story. These things are not moving in lock step. And I think that makes sense because my enthusiasm for this business hasn't waned at all, but it's far different than my enthusiasm in the stock. In large part, Scott, because of the lockup that you mentioned, the first of which we're going to see tomorrow hit the street. I want to wait and see how this stock trades as we see how these shares are absorbed into the float. But if we look at it just as the headline, the report was good. I mean, revenue grew 92% to 7.8 billion. Starlink revenue was up 66 billion. AI revenue grew 247%. But it's that $18.4 billion of capex that causes the problem for the street. And they're just like all of the other hyperscalers Microsoft Meta Amazon Alphabet, now SpaceX. If you're going to spend this kind of money, you need to show the shareholder that there's some path to a return on investment. And I'm not sure that that's a story for the next quarter or two, but I think as an investor, if you're 2, 3, 4 years into the future, this is an incredible business. We're going to own it. But interestingly, we have not added to it. We put a half a percent position in the QVO growth ETF at 160 because it was included in the ETF. And we've watched it come down patiently. And just because a stock pulls back doesn't mean you need to add to it. I imagine that we will, but I want to see how it trades with these new shares as part of the marketplace. >> How much of the lockup do you think is already in the in the stock? You know, it's come down obviously a tremendous amount from the IPO. >> A lot. I'm not going to I mean, I'll be surprised if this thing sells off a lot tomorrow because of it. You're talking about a stock, Scott, that's down a hundred bucks, almost 50% from the highs, going from the low 200s down to the low 100s. A lot of this has embedded into this price action. This is no surprise. I mean, it is the talking point. I think you even led with it in the introduction here to the name. This is a 24y old business. It was an inaugural report. It was really, really good in one hand, but that capex is a big deal. This lockup is a big deal. And I'm sure the Jimmy sweating from a valuation standpoint saying, you know, I can't value this stock. And I don't disagree with them, but I feel like this is such a revolutionary generational changing business. If it works down the road, we know about Starlink. We know about the AI investment. Can they monetize it? And boy, it can make Starship a reality. The sky's is the limit. >> Yeah, we'll have to wait and see on that. Uh, we know that. Kevin, thanks. Kevin Simpson joining us with his commentary around that. Uh, Nvidia's up today. It is the only of the mega cap tech names that actually is green now and it's nearly a 4% move. We think in part because Elon Musk gave the company an endorsement as part of the SpaceX earnings call said they have the best AI computer. That's that's a quote. U so Nvidia is up on that. Melius is talking about they love the endorsement. How could you not given what he said? What what do you think >> about Nvidia or SpaceX? I mean, Nvidia, I I think this you can buy it right here. Just to cut to the chase. Um right here. >> Yep. I do. Uh new money that comes into accounts at our firm, we're putting in N Invidia. We're not hesitating, by the way. Uh it's about five about six or sevenish% away from an all-time high. I think it will get there. may not be in August when we get this light liquidity, but news like we get where Elon Musk is endorsing it just continues to show that Nvidia will have more demand that it than it can supply for the foreseeable future and its multiple roughly 19 times 20 times forward earnings is to me attractive giving you the earnings per share growth rate that is around 30 35%. Okay, the other uh semiconductor name that I want to look at is AMD uh because I see it down almost 6%. Despite what was a good earnings report, I I don't know what you could pick at and and not like. What do you think? >> I think Elon Musk spoke uh at length about Vera Rubin chips and the relationship with SpaceX and Nvidia. We didn't hear very much about AMD. Now AMD has relations with Meta, OpenAI and Anthropic, but in return there are warrants on 160 million shares there. Much different relationship. You could also look at Nvidia relative to AMD. By the way, nothing like you said, Scott, nothing wrong with AMD's earnings except what we heard last night from Elon Musk. If it was happening on another day, you'd get a better reaction out of AMD. But it does remind people when you look at the forward multiple, you're looking at AMD mid-40s. You're looking at Nvidia at somewhere around 19.5. And I agree with Jimmy. Nvidia, it is it is literally a hanging curveball down the middle. I bought it at 199. I got stopped out at 193 while you were on vacation. I said it's the next Apple. I'm 100% right in what I saw and I handled the position wrong. It's going to a new alltime high. >> Okay. Uh now away from tech, Disney. Let's take a look. That's a nice winner today. Uh, what was what was that? Was that Now you love it again? >> It's the share price. The share price is driving me nuts. The sh What? What? >> You love it again. >> I don't love it. No, I don't hate it. Here's here's where my conundrum is. Is the operating results from the company, in my opinion, are pretty darn good. I don't care if you look at entertainment, theme parks, streaming, uh, and I think there's great potential, by the way, in the studios. I mean, we've seen what Spider-Man uh has done in terms of its box office. Now, that's part Sony, that's part uh Disney, but nonetheless, the box office in general as an industry is coming back. And yet, what are we up 2%. Um stock trades, I'm not going to look right this minute, but about 14 times forward earnings. Is that what you're suggesting? >> I do. Here's my conundrum. Here's my conundrum. I think the company itself is doing really well, but the stock just isn't. And it leaves me where I was yesterday considering how much of a mistake am I making here? Am I being patient or am I being stubborn? Now I'm not selling it today, but clearly in my language to answer your original question, no, I don't love it because I don't love what the share price is doing. >> You you think it should be up too >> 100%. And it has nothing to do with earnings. This is a market >> that wants to get behind the underdog. This is a market that wants to get behind the underperformance. Look at what happened in Microsoft. Look at what happened in Palunteer. Now you see Disney today and it's only up 1.9%. The stock is down double digits on the year. Double digits over the last 52 weeks. This is a good earnings report, Jimmy. I'll take your word for it. Good earnings report. >> It absolutely. >> Okay. So, so where are all the buyers rushing in to buy the underperformance? Tells you everything you need to know about. You know, I I I think we have to expand the discussion. And I'm going to bring Netflix in, not because I want to make myself feel better, but I think we have to look at the industry streaming and broadcast overall and say that maybe there's going to be more M&A. Maybe that's what's holding this stock back. Um, we know there are obviously some cable channels, including our fine company, uh, that have spun out recently and will be spinning out. And maybe the market's worried that Disney's going to uh enter that uh scrum, if you will, and pay too much for something. They did with Fox five, six years ago, whenever that was. So maybe that's what's holding it back. >> Okay, we we have some news uh crossing about Shake Shack. Brandon Gomez has those details for us. What are we learning here, Brandon? >> Hey, Scott. Yeah, that's right. Starbucks Jeff Smith on Bloomberg just now saying he's taken a stake in Shake Shack, calling it quote too cheap. He said it's a several hundred million dollar stake and that they may now be the largest shareholder, not yet confirmed. We know as of Q1 they didn't hold the stock. We'll get 13F's next Friday. More details possibly then that will indicate timing of the stake that he's taken, but you can see shares now popping about 8%. Company also had earnings this morning, but right now um reacting to that news. >> Okay. Uh we appreciate that. Uh stocks getting a big jump. We're making a call to Josh Brown as we speak uh for obvious reasons. >> He might be a chase check. Well, he probably if he's watching right now, he's feeling pretty good and I'm sure he would agree with Jeff Smith who who thinks it's too cheap. We we'll see if we can get him on the line. See what he has to say uh about that. Let's do quickly u I mentioned financials um having this this move over a month. Private equity has been great too. So Shake Shack's up almost 10%. We'll try to get Josh on the horn to see what happens. Uh Apollo reiterated overweight today. Jason, you want to you want to take that? This been a a nice move for private equity. >> Yeah. Yeah, it has. And I think um as it relates to Apollo, Apollo is still down around 10%. Um fee related earnings are up to 70 785 million up 25% which is a record quarter for them. Insurance spread income has really drove some of these results and private equity has been performing better. But I think for me, you know, I need to see those monet monetizations continue to pick up to see the stock move further. I think one of the reasons why private equity is trading better is because software is trading better and I think there's a very strong correlation between the two we identified that previously. Um I think that's important. I also think it's benefiting from this environment where the market loves the underdog and the underperformance and private equity certainly characterizes itself as such. >> Okay, that that's that's probably a good observation. Uh let's take a break. We come back uh booking holdings on the move. We just had a bunch of rebalanced uh travel related moves in in Joe's ETF. So, we need to discuss that relative to what Booking Holdings is doing today. Some calls of the day related to the consumer as well. We're back right after this. Hey guys, welcome to BlueCloud Trading. I'm George. It's Wednesday and it's August 5th, 5:32 p.m. Eastern time as I'm recording this video. We're going to go over the stocks that they just talked about. Not all of them, but a good portion of those stocks here. and then um I'll show you the second clip from CNBC and then we'll do some more because there are a lot more stocks to take a look at. But before we do that, let's take a quick look and see how the markets uh performed because as I mentioned right now it is 532 and uh well the Dow was the only one of the indices that was actually up49% today. It's the big gap up here and then but then it spent the rest of the day just kind of declining as you can see in this little downward channel. Uh, the NASDAQ also gapped up early in the morning, but it wasn't able to successfully continue the rest of the day. At around 11:00 a.m., the market started to drop again, down 83%. S&P 500 also gapped up in the morning. Okay, you can see this right here, this little this little consolidation box, but price broke under it. And then when that happened, price dropped some more. It was down.17%. The Russell 2000 also opened above closing price, moved up slightly, but then got right back under that prior day's closing price and continue to drop down 64%. I just want to show you guys the heat map very quickly as well. Some of the individual stocks within the S&P 500, you can see the NASDAQ was up 3.44, Google was up 4.03, Amazon and Tesla were down. Did I say Google was up? It was down 4.03. Energy stocks were down. Um Microsoft was down. A lot of the software uh infrastructure stocks were down as you can see there. Basic materials did pretty well though and healthcare stocks did quite well today. Industrials did okay. Financials did pretty good. All right. Utilities not so much. So let's go ahead get started here. We're going to look at some of these stocks. Like what I've done is I've analyzed all that list there of 14. And out of the 14, there's just two that actually met the criteria that I'm looking for personally. Technically, using this Ichimoku indicator, they call it the Ichimoku indicator. It's used a lot by a lot of people. Believe me, so many people out there, they just love it, especially the financial institutions that I work with very closely. But, uh, yeah. So anyway, it you know this is one of the ways that you can analyze the technicals using this comprehensive indicator. Now what does it do? It actually looks at where price is in relation to some moving averages like the Tenken, the Keeunen. What are these? This is the nine period. The green line, it's the midpoint of the last nine periods. The red line is the midpoint of the last 26 periods. We want that nine period above the 26, right? faster moving average above the slower one because it's looking at the midpoint of each of the candles. You'll also notice it that sometimes it will flatten out. So, it's very unique, right? It's not like the typical, you know, moving average which basically calculates the closing price, right? So, yeah, this is very different and so we can see it as it stair steps upwards. Now, um the cloud itself is the other part of the indicator. There's two lines that com that make it up. the seno span A which is derived by taking the midpoint of these two moving averages and projecting it 26 periods into the future and then the single span B which is actually the midpoint of the last 52 periods but instead of plotting it under or above the candle it actually plots it out 26 years into the future hence creating this cloud there's one final line it's the chu span or laging lagging line that's all that really is is the current price in a line form projected 26 periods into the past. The idea behind this is to see where that is, where is current price now in relation to, you know, the candle 26 periods ago. And by the way, one of the other cool things about the fact that it is a line form is you can more clearly sort of see when there are higher highs, right? As you can see right there, and higher lows. So that makes it just a little bit easier for you, you know, because Japanese candlesticks can get a little messy as you can see. So it just makes it a little bit more easy to to recognize what's happening. So why do I like Delta Airlines? Well, this is a weekly chart you're looking at. You can see this week was a very strong one. Uh so was last week when price broke above the 9 period. It's continuing to move up. If I switch it to a daily chart, price is above all these moving averages. In fact, on the daily chart, we also had the faster moving average crossing back above the slower one. That's very bullish. Uh I also use a directional movement index at a setting of nine. The green line positive DI9 is above the negative DI9. And the ADX9 which is represents momentum is increasing. So this is all very good. Am I excited about this candle that I see here? No. It is a shooting star type candle. It's a reversal candle. The other thing that you have to take into account is the fact that we came very close to these prior highs here and then it started reversing. Okay. So, ideally what you want to wait for is price to break above these highs up here. Okay. Uh I can give you the exact dollar amount. Let me see here. Boom. 9568. Okay. So, that would be the level that I'd be watching. I'd want to see price closing above that level and then that will confirm that this is going to be a real move to the upside. What we don't want to see is a double top move, right? That would be bearish if it starts to pull back after hitting that 9568 level. All right, let's look at XLF weekly chart. Very bullish, guys. It actually did break above this prior high. So, we do have confirmation on the weekly that the financials are in strong in a strong uptrend. The cloud has turned very bullish here. The ADX is moving up while the green line is above the red line. Everything looks good on the weekly. And on the daily chart, we're also looking bullish as far as price being above these moving averages. The only problem for today was the fact that we had a red spinning top. This is a reversal candle. It doesn't mean 100% that the market's going to drop tomorrow. Okay? But it's there's a higher likelihood or probability that we may see a little bit of a pullback. That's all. Maybe, you know, 60%. 70% whatever. Um that we might see price pull back a little bit. Uh again, these reversal candles don't always play out. Like if you look back in back in time over here, price continued to move up here there. That reversal candle did lead to a little pullback. That reversal candle did lead to a pullback. So did these, right? So that's why there's a higher probability is what I'm saying. And same thing over here, too. And here, and here, that shooting star. All right. That's why it's important to memorize and learn these uh these candlesticks, candlestick patterns. You can find them on my X page. I'll I'll share that information a little later today. I mean at the at the end of the video. All right, let's keep going here. We're going to run through these. Now, these stocks that I'm going to go over, the rest of these 12 stocks and ETFs, there's something off technically, and so they don't meet the criteria that I'm looking for. I want to see strength in a stock, not weakness. Because weakness begets more weakness, right? When you start when price starts to drop, it can continue for a little while. And what you don't want to do is if you can avoid getting into these stocks that are declining, that's what the that's what we want to do. We want to avoid that. We want to enter trades that make sense. If it starts going against you, of course, you can manage that trade from that point on. But initially, you want to buy stocks that are actually showing strength. And this this particular one right now is not showing strength. It was down 7.04% today. Price closed under the 9 period and the 26th period. It's inside the cloud right now. The chica span is underpriced. That's also weak. That shows weakness on the daily chart. So, no on that one. How about APO? Whoops. which is um Apollo Global Management Inc. It's in the financial services sector. Okay, this one looks better here on the daily because price is above the cloud, but the cloud itself is still bearish. Okay, and if you look at the weekly chart, we're still under the cloud. So, no on that one. And by the way, in order for for any of these stocks to get a blue flag, it would have to meet the criteria on both the weekly and the daily chart. Okay, that's what I'm looking for. Double confirmation on two time frames, the longer time frame and the shorter one. Here's Disney on the weekly. It's in under the cloud. No on that one. You know, it's it's as clear as day that you should not be adding a position here. Here's a daily chart. Although price gapped up 3.63%, it's still under this declining 200 day moving average. It's inside the cloud. Okay, it's showing a little bit of strength. But then we also got a reversal candle once again, a red spinning top. Google bearish engulfing pattern. Not good. Down 4.03% 03% re-entered the cloud. Here's the weekly chart. Okay, we got a reversal type candle. Technically, the weekly looks good still overall as far as price being above the moving averages in the cloud, but I'd hold off on Google at this time. We still we this whole time we've had a bearish cloud here. So, we don't want we want to wait for all of the elements of the Ichimoku indicator to confirm things, right? Uh and sometimes you're going to miss part of that move, but that's all right because you know what? you'll have a higher probability trade that you can hold into um IGV which is the software index fund. Now on the daily chart it gapped above here uh the the cloud here a few times and moved up quite a bit but today we had a reversal type candle. Price actually they call this um a dark cloud cover candlestick pattern. It's when you have a bullish candle like this price gaps up but then it starts dropping okay and closes within the body of the candle. So this is bearish actually. There's a higher probability it's going to pull back. A lot of profit taking started to take place here. The deviation away from the moving averages is so significant that people were a little bit okay, you know what, maybe it's time to exit the position essentially. So that's what happened. All right. So what does the weekly chart look like? It's uh we still have a bearish cloud here, but we got above the cloud. So there's a lot of mixed signals and that's why I'd stay out of that one. Microsoft here we have we still have a bearish cloud but price broke through the cloud on the weekly on the daily chart here we are down 1.09 09 again very like a quite a distance away from these moving averages and so price tends to want to come back like a magnet right back to its you know the 9 period the 26th period and right now uh I would not be adding positions here obviously based on what I'm seeing I would be taking some profits mtum is inside the cloud no on that one here's an interesting one uh so we have this long um extended actually this is more of weekly level that I've been following. Right? So, this this uh downward channel that's been going on here. Um it was broken. It was broken today. It got above that trend line. It's also above the cloud. The problem is we still have a bearish cloud. We still we have a kind of a reversal type candle. Whenever you see a long wick at the top of a candle like this, that represents selling, folks. If you see the wick at the bottom, a long wick at the bottom, that represents buying. Higher probability that price will move up the next day. Okay, not always, but there's a higher probability. And so this is uh this is a little bit concerning. I like what I'm seeing with the directional movement index, but I think we need to wait until Friday personally um because this could easily come right back under and then continue its decline here. Um Shake Shack was up 12.27% 27%. But if you look at this on the weekly chart, um it's uh it's still under the cloud. Okay, we still have a series of lower highs and lower lows for Shake Shack from these highs here of around what $40 or so $150 close to $150. You know, we're down to 74. And at one point, we got down to $52 down here, but it found a floor around the 5201 level and seems to have bounced here with a double bottom pattern. And so that's good, but I wouldn't be adding positions here. Here's the daily chart. Okay, it's looking a lot more bullish. Like you can see here that that double pattern, double bottom pattern uh showing itself. So um it's got more to prove, but I like what I'm seeing overall. Okay, SMH is still in a downward channel. No on that one. Here's the weekly chart. It's still under the N period as well. I would hold off on the semiconductor ETF. SPCX was down 13.6%. Now, this is a weekly chart. There's not there aren't enough weeks here for the Ichimoku indicator to actually get plotted. It requires more time to pass, right? So, if I switch it to a daily chart, we'll see a little bit more of the cloud forming, but there's still not enough data. So, what I'm doing here with with SpaceX and any new publicly traded stock is I switch it to a 30 minute time frame. And if you're going to because you know what they're so volatile anyway these uh these stocks that come out uh it's more of a day trading type scenario with with these types of stocks. So Space X currently under the cloud. All right. So it's under the cloud on the 30 minute. I would hold off obviously on this one. Uh XLV is the healthcare stock. I'm sorry healthcare ETF and this one actually is still inside the cloud but it showed a lot of strength today. Uh it's holding up quite nicely. It actually kind of broke through this little tight consolidation right here. If you see that right there where price was opening and closing around that level, it actually closed above that those levels a little bit. Uh it still needs to clear this cloud though. All right. And the cloud itself, the future cloud is looking bullish for healthcare. That's the 30 minute. Here's a daily chart. Uh we do have a future bullish cloud. It looks like it wants to uh break through this level here. We'll see if that happens. on the weekly chart, we are above every all the moving averages. So, we just need to see a little more confirmation basically and we'll we'll uh wait for that. All right. Now, let's continue with the second segment of from CNBC. We're going to see some more clips. Josh Brown is coming up too and then um and then I'll do some more analysis at the end. All right. >> Josh Brown's on the phone. We wanted to get his uh take on this news from Jeff Smith of Starboard. A new position in Shake Shack calls it too cheap. The company had earnings today. Stocks up now almost 11.5%. Josh, what's your take on learning of this news? >> Look, as a long-term shareholder, it's very clear that this is a company that has a stated trajectory of getting to 1500 stores. They're going to open 65 stores this year. They have a great royalty business internationally. They have an unbelievable product and a loyal customer base. What's missing? It's a $2 billion market cap. So clearly the potential does not match the progress in the share price. And when you think about Starboard and some of the success they've had, whether it's Papa John's or Darden just in this specific field, their track record is unimpeachable. And I can't imagine this being a negative. So I don't have any more details than what's out there, but I would tell you I think this may be exactly what the doctor ordered. Wh what I mean if if this was going to be uh which certainly at times it has been obviously with with Jeff Smith. uh if it if it turns out to be a an activist related play, what are some potential moves that you think would be wise for this company to to perhaps do? Um, and I don't know, frankly, I I don't have enough information to know if, you know, this is, you know, a pure activist role, if it's a more passive position that he just thinks the stock is cheap. I'm not exactly sure, but have you thought about bigger picture? if an activist was to get in this name and let's look at a longer term chart uh by the way as we we answer this question just to see what the stock has done let's say over uh we can move to a longer chart guys please like I don't know 3 years give me uh as you answer that question Josh >> yeah so we know what needs fixing and what doesn't what doesn't let's start with what doesn't need fixing I I'm sure Starbucks looks at this and says okay they have prime locations everywhere that you would want them. They're in every major shopping district. They're in the airports. They're in every major city at this point. Um they're near ballparks. They're in places with heavy consumer foot traffic. And they've done a great job picking site locations. I would give them an A. I'd give them a B on getting the drive-throughs opened, getting enough users on the app, and and just building that digital future. But it's a work in progress. So, I wouldn't say it's an A, but it's not a C. They're succeeding there. What are they doing wrong? What could Starboard do? The first thing to understand is why did the stock come down from 130 to to the 50s? They shocked the street last quarter with a surprised loss. Why did they have a surprise loss? They claimed that the price of paper goods surprised them to the upside. And the price of uh red meat, I think they were paying 675 a pound at one point this winter. Now, some of that is just the whole daisy chain of events because of Iraq uh excuse me, Iran and uh the military action and the price of crude oil and blah blah blah blah blah. But in the end, you should not have a business this mature that shocks Wall Street to this extent where they go from a profit to a loss. There's obviously operational things that um could be improved. And I would bet they're not buying several hundred million worth of stock to just sit back and hope things get better. I would bet that there are constructive conversations taking place already and that those conversations could end up with a board seat and I think if you're a shareholder, you this is exactly what you would like to see. Um, every company needs help from time to time. This business has huge potential and anyone that wants to come in here on the equity side and help them reach that potential should be welcomed with open arms. >> It's not it's not the first rodeo either for for an activist. Um Engaged I I've got Joe I'm going to bring into the conversation. I mean Engaged was here a few years ago um about 3 years ago and was pushing for the same sort of operational improvements that Josh suggests are still needed. Maybe something's not resonating. I don't know. Um I don't know enough about sort of what sort of operational improvements they were pushing for and what may still have to happen if there's some kind of disconnect over what some investors think needs to happen and what hasn't. And that's why the chart looks the way it does. is I think it's at 35% year-to date, but over the longer period of time of the chart that we had thrown up, it's you know, you draw a line straight across from where you were to where you are. >> Yeah. This is a paradigm shift though. This is important because Jeff Smith and the Starboard team have excelled in quickserve restaurant activism. You go back to 2014 with Darden. They replaced the entire 12 member board. In the five subsequent years to their activism, Darden went up 143%. And Jeff and his team, Scott, they are very engaged. I'm not being comical. I remember this distinctly from 10 years ago as it related to Olive Garden. This is how how active Jeff and the team gets. They changed Olive Garden's cook strategy. And as an Italian, I know this boiling the pasta. They weren't using salt. They weren't using salt in the pasta. Jeff and Starboard made them boil the water, the pasta water with salt. That's how engaged they were. He did this at Papa John's. >> Were they doing it al dente or no? >> I'm sure after Jeff got involved, they were. But Jeff did the turnaround as well at Papa John's. He was the executive chairman after uh co and he was able to turn that around. He will be active here. He will be engaged and I would imagine he's going to be on board. >> Josh, I'll give you the last word then I got to bounce. All right, the last word is I'm just picturing Joe in the joint slicing the garlic with a razor blade. >> Yeah. >> All right, that's it. That's all I got. >> All right, we'll leave it. I appreciate you calling in. Uh we we just had to get your take, obviously. Uh stocks up 11%. All right, let's get to that booking holding story that we were talking about uh before the Shake Shack news crossed. up 6% is booking uh on earnings and it just made us think of the moves that you made in your ETF in which you got rid of Expedia LVS Royal Caribbean. Expedia is a record high today. So talk to me. >> Yeah, the one that's painful is Royal Caribbean because as I've mentioned on the show over the last several years, the one area, the one sector in which I don't think momentum is very successful is consumer discretionary. It's a lot of fits. It's a lot of starts. It's a lot of uh quick entry into positions and a couple of quarters later, you're out of it. Uh Royal Caribbean is a name we have had in the portfolio for the better part of the last two years and done really well with it. So, I'm disappointed to see this move to the sidelines. It is moving to the sidelines specifically on price performance in the near term. A lot of that attributable to what's going on in the Middle East. So, that could reverse itself very quickly. Uh, Las Vegas Sands, that's price momentum. And then Expedia is the interesting one because if you pull up Expedia and pull up a one-year chart, Scott, you're going to be like, "Well, what what are you talking about?" There's great momentum for Expedia. Look at that. >> The problem is one of the metrics that we're using to uh for quality is debt to equity. Debt to equity could be distorted by a company that does significant buybacks. As you know, Jimmy, the debt to equity ratio for Expedia just got uncomfortably high. It's up sitting right now at 500%. So that disqualified it and that's the reason why we sold it. You look at it from a momentum perspective, it looks good. >> Was that a a a quality metric by choice? >> So when the rules um were created by myself before we introduced the strategy in November of 2020, I selected three quality criteria um revenue growth, return on equity, and debt to equity. Let me just say this. In this in this uh in this business, the market is always teaching and you're always learning. So, you're always learning something about what you've done with the rules and you're willing to pivot accordingly. And I think when I look at debt to equity, there might be something there that in the future we'd have to pivot on. >> Can I can I just make a suggestion on this? You say high debt for share buybacks, I hate it. However, high debt for doing productive investments that are going to gen generate free cash flow. That's where you might look and see is there a way to distinguish. >> Great example. >> Caterpill. Yeah. >> All right. I'll let's talk some Uber. Uh the stock is lower by near 7%. They did have a weaker than expected bookings. Uh which is what's what's your re because I just pulled up an analyst report with that moved that that moved at 1240. So not that long ago at all from Truist. The results in the guide reflect very healthy demand for mobility and delivery and the autonomous vehicle rollouts are going to accelerate. >> Yeah. >> So what what's your take relative to the stock move and then that kind of commentary? >> Yeah. So it was a revenue miss clearly, right? EPS was was in line. You know, revenue was around was up around 12%. I think their street was expecting 14. I think when I'm looking at this stock and again they have free cash flow of $10 billion. are going to continue to invest in the AV market, but there's there's no real catalyst to move this stock forward. I think that's really what my concern is, you know. So, for me, this is kind of like in the wait and see. It's off 7%, it's down 17 for the year, but I think that's that's kind of what my focus is. It's like what is the next catalyst for this stock? >> Do you have an answer to that? >> I don't. And it's the reason why I'm not in the stock and I want to be in the stock because I believe in the long-term business model, but it hasn't proven itself. And if you're focused on price, you're going to be out. >> Okay. What is your final trade, Farmer Jim? >> Win Resorts. Uh, good earnings last night. So, and I'm sorry, you're going to win with Win. >> Okay. >> I I hate myself. I won't even make another comment. >> Uh, Jason Snipe, >> Microsoft, Azure Strong Show some life. >> Liz, >> I'll go next. as the macroeconomist on the desk today. Commodities as inflation. >> What you got? A barista network. >> All right, Kelly. >> Okay, so in this segment, we're going to take a look at the stocks that they just talked about. Some of them uh there's about nine stocks and ETFs right here. Just one of them actually got the blue flag here. Uh we'll also take a look at the indices including gold, silver. Okay. Um and then we'll also take a look at let's see some of our members requests right there. So, let's get started with the first segment of Arista Networks Inc. Why do I like this one? Even though it is in the technology sector, which is not a favorite sector of mine right now. Uh, this stock is outperforming. It's looking really strong. It was up 3 and a half% 3.55% today. Weekly chart, you can see the cloud is turning is very bullish still. Uh, the sync span A and the single span B are moving up. That's good. So is the green line and the red line here, the 9 period and the 26. and so is the ch the chico span the lag lagging line. Notice the higher lows here and the higher highs. Okay, very easy to see. Um and uh so that's the weekly. Here's a daily chart. Now today price was actually up significantly more because it actually opened up. I'm sorry. It um it gapped up from yesterday's close which was around that level. It gapped up to this level from from uh 197 to 213. It's a 7.4% move up and then it moved up slightly more and then it dropped. Okay, so now it was only up three and a half%. What does this tell me? This candle, it's a red candle and it's moved up significantly and it might look very bullish at first sight, but when something like that happens, it represents um profit taking. When price initially gaps up that much, guess what? People are like, "Okay, I think I want to take some profits." And boom, it dropped. And we can see that reflected on a 3minut chart right there. Okay, so there's the gap up. And this was 9:30 this morning right here. dropped, moved up a little bit, and then continued to drop, finding support at the 200 day on the three, I'm sorry, 200 uh simple moving average on the 3minut chart. So, that's where we're at. Uh I like it, but I wouldn't be adding positions based on the type of candle that just formed. All right? I'd wait for a little bit more bullishness. Maybe um you know, price needs to come down a little bit and then give us a a better, you know, more optimal entry point. Uh the rest of these did not get a blue flag. BKNG does look good here on the daily chart though. I will say that except for the fact that we got a reversal candle, another spinning top. So the daily looks good, but the weekly uh we still have a bearish cloud. Uh Expedia looks great on the weekly chart. So this is the longer time frame looks better. I like Expedia, but switching to the daily chart. Um why did I not give it a uh blue flag? There's got to be a reason. Let me check. Double check here. Okay, I made an error here. First time, folks. Just kidding. Um, this one looks good on both. So, it's going to get a blue flag as well. So, weekly chart and daily chart looks good. The only problem is this reversal type candle that's formed. All right, so Expedia does get a blue flag as well. Let's take a look at Las Vegas Sands. No, on the daily chart, a series of lower highs, lower lows. This is why you don't want to be adding positions when price gets under the moving averages. If you got if you exited your position hypothetically over here, you know, hypothetically, you got out here, you would have saved yourself that 31.1% profit. Now, a lot of times price will pull back and then bounce right back through and then continuous move up. It did not happen here for for Las Vegas Sands. It's it's dropped significantly and it's continued to drop. So, I'd stay out of that stock. Obviously, PBDC is the Putinham uh BDC income. Okay, this one here down 2%. It's inside the cloud. Nothing I'd be interested in interested in. Um I forget what this um represents. I can look it up very quickly. I just put it into Finn Viz Elite PBDC Putnham BDC income ETF. What they do? Okay. It seeks current income. The fund invests mainly in exchange exchangeradraded funds or I'm sorry exchangeraded business development companies. BDC's are vehicles whose principal business is to invest in lend capital to or provide services to privately held US companies or thinly traded US public companies. The fund is non diversified. How has it performed for the last quarter? Uh it's down 6.61% 61% and performance year to date is negative 11.83%. It's only up basically 2.2% this week. So, it doesn't look interesting at all to me. I'd stay clear of this one. Um, okay. Let's get back. So, yeah, no on that one. RCL, Royal Caribbean Group doesn't it looks good here on the daily chart. What about the weekly? On the weekly, the Chico span, the lagging line is basically inside the candle here and the cloud is still bearish. So, Royal Caribbean, although it's looking more and more bullish, I would hold off. And and personally, I would probably wait until it breaks through that 36650 level just for confirmation. And then Shake Shack now. Oh, we talked about that one, didn't we? We did. I just typed it in again. Uber. Let's take a look at Uber Technologies. And I don't believe I Yeah, I did talk about Shake Shack earlier. Okay. Uh let's look at Uber. Uber down 5.29% today. Here's the weekly chart. You can see that once we got under that 9 period back here on November 7th of 2025, since then it's dropped 25.8%. Okay. And it's now reached the 200 day moving average. We might see a bounce here, but again, it's still very weak looking. You know, on the daily chart, it's still under that 200. So, no on that one. Uh, Win Resorts. Farmer Jim is really liking this one. I'm not quite sure why, but yeah, I mean, it's developed what you might call a triple. I would even go as far as to say a quadruple bottom because this low here is pretty close to that one right there. But, we'll just say that it's a triple bottom pattern. It's when price reaches this level, comes down right back to that same level, right? And then moves up and drops to that same level and find support each and every time and doesn't close under that those levels. That's really that's really important. The problem is we still haven't made we still haven't cleared on the daily chart above the cloud. The cloud itself looks like it looks like it's about to uh turn bullish here. Look what happened when price today reached the 200 day moving average. It was looking very bullish earlier today. In fact, from yesterday's um uh close, it actually went moved up about 11.93%. But guess what? Profit taking started to take place once it reached this level. It was close to the 200, super close to the 200 day moving average. And look at the three minute. There's win on the three-minut chart. Dang is all I can say. So, Farmer Jim is probably uh crying right now, maybe. No, I'm joking. Uh, but yeah, it moved up to this level here. It reached this box and then boom, it just dropped and dropped some more and dropped some more from that point and it was still up 3.64%. But don't let that percentage fool you. It got right back under the cloud. Okay, so I'd hold off on that one obviously. Now, let's go to the next one, guys. This is the indices. Let's take a look at the Dow. DIA ETF was up44%. It gapped up again. And we got a reversal candle and we're far away from the these moving averages. It does have a blue flag because it looks price is above the moving averages and cloud on the daily and on the weekly chart. In fact, this last this week has been a good week for the Dow. You can see it broke this consolidation area here. This is really good. Um but the daily chart tells me that uh we may see a little bit of a pullback. maybe try to retest these this level here, the 533, this prior high, I'm guessing, and then bounce off that maybe. We'll see. FEZ Euro stocks also broke through this $70.52 level yesterday. I didn't do a video yesterday. Um, gapped up and uh now we've got a reversal candle. So, it might pull back slightly tomorrow, retest that 7052, maybe continue from there. IWM also has a blue flag. Um, you can see here it it reached the 30272 and then pulled back immediately down 64%. This is why I wouldn't uh get too excited about, you know, these last few days here. Um, because we reached that level of resistance in the Russell and then it's pulled back. Here's a weekly chart. Still in a box for the Russell. Okay. And the spy. Okay. This looks a little bit more optim, you know, optimistic here on the weekly because we got above that 3 76040. But remember, it's just Wednesday right now. There are two days left in this week. This this candle can um continue to drop. All right, it was down. 2. If it drops for the next few days, it's going to come right back into that box and then we'll just be stuck in here a little longer, which is what's been happening. Price has just been going sideways for so long. Here's a daily chart. So, you see that big move these last three days, four days, whatever. And then today we have a uh reversal pattern. The dark cloud cover gold. Okay, I'm kind of excited about this because I do have a few gold positions and I want to see gold do well. Um it's been consolidating here, you know, and it's been consolidating for a little while. And guess what? Today was a really important day. It broke through this this box, got above that high. It gapped up. Okay, it gapped up. It was up 4.14%. It re-entered the cloud. Before it breaks above the cloud, it has to first re-enter it. That's a positive sign. The faster moving average crossed above the slower one. You know what else happened? This is a a like a basically a uh declining wedge pattern. This is actually bullish because when price breaks through that trend line, which is what's happened here. All right, let me just show the weekly chart. I think we can see it a little clearer, more clearly here. It's a weekly level, right? So, there's the touch there, the touch there. And we can even make it a little bit. We'll bring it up just a little bit. Yeah, it's about that level. So, this week, if it if it remains bullish here and doesn't retract back in, gold, we could see gold next week doing really well, we could see it taking off. And uh I'm going to be watching that very closely. Again, there's the weekly and there's the daily. the QQQ ETF down 0.9%. It broke above the cloud yesterday, broke above this trend line yesterday, but then it re-entered the cloud. So, it's it's basically like saying peekaboo and then pulls back right back into the cloud. It's not ready yet basically for the big leagues. And so, uh we'll see if this can um it's probably going to pull back some more. Maybe it's going to retest this trend line and then bounce off that level. We'll see. Uh but right now wouldn't be adding it. Here's a weekly chart. weekly. The weekly candle here is looking good, but that wick that's now starting to develop, let's just hope it doesn't come right back under by Friday because that will be bearish. Silver also was up 4.14%. What's funny, if you look at the exact percentage move here, silver and gold up exactly 4.14% today. I don't think I've ever seen that before. So where the exact level right is um up now but the si silver however if you look at this on this daily chart it's still stuck inside the box. It doesn't look as bullish to me as gold especially with this reversal type candle. So I like gold more. Um and the VIX is still declining down 4.79. That's good. It's under the cloud. It's at a level of 15.8. That's very good. We want to see that VIX, the volatility index at these low levels. All right, let's take a look at some of our members requests. Now, very quickly, we've got Micron, which is uh actually still inside the Ichimoku cloud. Uh the last couple of days now, it re it basically got back above and into the cloud and above the the moving average here, the 9 period. So, that's a good sign. Um will it continue to the upside? I don't know the answer to that one. I can tell you that the cloud itself is is bearish currently, the future cloud. The chico span is under price, you know, and the faster moving average is still under this lower one. So, uh, but price price is going to, uh, create everything that we see here. And as long as it continues to move up, that's going to be a good sign. The volume as price has been moving up has not been increasing, unfortunately. So, if you look down below here, it's been declining. Let's look at the weekly though. So the weekly I kind of like this this chart right here because you can see that it got under the the 26 period here gapped under and then this whole week it's been moving up. So we'll see what happens with this one. But Micron right now again the semiconductor uh industry is not super strong quite yet. We need that SMH. We saw SMH still in a decline, but um it's the big names like Micron that are going to help to change the course of of the semiconductors and Nvidia of course, right? So, we'll see what happens there. JBHT is JB Hunt Transport Services in the industrial sector. We have a nice reversal candle here that's forming on the weekly, a spinning top. So, after price has been moving down, if we see one of these, that's bullish actually. And on the daily chart, it's inside the cloud still. So, nothing to do here. Basically, we're getting two conflicting uh stories. I would stay out of that one for now. Oil K um pulling back some more here after reaching the cloud. You can see how many times it found resistance. It was unsuccessful. Actually did break into the cloud briefly, but then dropped, right? So, and now it is uh still above this rising 200 day. And let's look at the weekly. On the weekly chart, looking more bearish. It's still under the moving averages. Okay, last week we had a price gap down um and then it's continued to to drop. All right, let's take a look, folks, at the next thing that I want to talk about. It's my YouTube channel, BlueCloud Trading. There's a whole bunch of links here. 10 more links. If you go to the top of the page here and you click 10 more links from here, you find out a little bit about my channel, you can scroll down. You can become a member and access exclusive member onlyly videos with this top link. I'll just show you what that looks like. When you do that, it will bring pop up this box. And you won't be able to see those videos under the blue cloud supporter level, but you would be supporting my channel and I do appreciate that. But if you upgrade to BlueCloud Trader, select that and then hit join. It's $24.99 a month US dollars, you get access to the exclusive member only videos that I do each weekend. I go over my portfolio and I also share new stock ideas for the upcoming week. I've added a couple of stocks this week that uh from the list you got BlueCloud Legend level membership. This is the next level up. All right, for $49.99, you also get access to my daily trades. I what I do is I post those uh once you become a member, there'll be a new tab that pops up over here. It will say membership, and you'll be able to access those posts. Uh what else? Also, when we go back to that 10 more links, you'll notice that there's a $25 coupon for TC2000. That's this software that I'm using here. You can follow along. You can This is not a complicated uh platform to use. Once you get the gist of it, and I've already set up this exact sort of um layout, and you can actually use the layout link that I have. Let me show you guys that real quick. So, if you do become uh if you do get the $25 coupon for the TC2000 and you subscribe to it and you add your email here, you download the software, here's the pricing. Okay, you can even try the basic for free for $20. And what's that? Sorry. Go back for a second under monthly $24.99. So it covers this for free. Um I would recommend the premium though. It has a lot more features. Okay. Now you'll be able to get access to the layout that I use. If you scroll down here, do you see this? It says TC2000 chart layout automatic. You click on that link once you've become a once you have the software and you'll be able to use basically the exact same layout that I have. Okay. Um my Twitter page is right here too. Click on that and it will bring you to this page. What you want to do from here is click on well there's a whole bunch of like posts that I'm that I throw in here. But if you click on highlights, you scroll down a little bit. From here, you'll find the candle pattern reference sheet. Okay? And that's going to help you understand the candlesticks that I'm talking about. Like I mentioned earlier, I think I mentioned the bullish engulfing. We mentioned the bearish spinning top. You memorize these, it will help you with your trading, understanding Japanese candlesticks right there. Um, and then one more thing also, if you scroll down a little further, you'll see the stock patterns cheat sheet for free. You can get these for free. Um, and you'll see the different patterns that we see here. The one I was talking about earlier was actually called the falling wedge pattern, which is a bullish variant. It's when you see again price dropping, right? Like so. But then the price breaks through that trend line. It tends to be a higher probability long trade. Okay? Um, bullish trade. And then you can see some of the other patterns. For example, that triple bottom pattern that I mentioned earlier. There it is, right? Price dropping, reaching this level, moving up, moving down again. Same level until it breaks above the prior high. And that's when you see price typically continue to the upside. So with all that, thanks for supporting my channel. Don't forget to hit that like button, subscribe, share this video with someone, and I'll catch you all in the next video. The ichimoku guiding light. Blue cloud traing through the night. Heat. Heat.