TOM LEE SAYS "BUY BACK WAS A WISE THING TO DO" - 08/21 - + Technical Analysis in last segment

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. >> All right, guys. Thanks so much. Welcome to Closing Bell. I'm Scott Walker live from Post 9 here at the New York Stock Exchange. This make or break hour begins with a market in need of some answers on interest rates and the AI trade. And it's going to get both in the week ahead. We're going to ask our panel today what to expect in just a moment. First, the scorecard with 60 to go in regulation. Looks like this. Pretty nice day. We are green as you see across the board. The Dow is leading the way, but it's pretty decent all the way around, even as yields move higher. So, we're watching all that. Feels like the market's waiting a bit now on Fed Chair Pal to speak in Jackson Hole one week from today and for Nvidia to report its earnings next Wednesday. Both obviously key stories. Let's get right to our talk of the tape on that note. The road ahead for your money. Jeremy Seagull is Wharton Professor of Finance, Wisdom Tre's chief economist. He is right there. Welcome back. >> Good to see you, Scott. >> Too. All right, your observations on what's been an interesting week given the intervention in the bond market. Yields going back up, stocks today are up as we look ahead to what's critical next week. How do you think about things? >> Well, first of all, I don't know, you know, how good a dancer Scott Bessant is, but I I don't I am not fond of the Bessant uh twist. Uh I I mean it seems to just totally run counter to what Kevin Worsh wants to do. Uh which is, you know, let's let the market determine those rates so we can get the signals out to determine how we're going to pursue monetary policy. No, it used to be weekly meetings between, you know, Treasury and and and the Fed. Um, you know, I we have not heard how, you know, Kevin responds to this, but clearly going in and changing the composition of the debt, uh, is changing those relative yields and making it harder to read those those signals. And that all makes, as you said, what Kevin is going to say later next week even more important uh than ever. >> I mean, you can't have rates though become untethered. And I think there was a feeling among some that at the long end that was in the process of happening. >> Well, don't don't I mean the the 30-year did peak above the high and you know once it hit over 5% and hit the headlines. Remember the 10-year did not hit the high of where it was 6 months ago. It's been bouncing off that uh 475. Um I I I would not call it untethered. I wouldn't call it an unruly, untethered market. It's a market that says, "Hey, there's a lot of price pressures. There's a lot of government spending pressures and some down someday down the road, maybe not so far, we're going to have to address some of those fiscal uh problems." And you know, that the signal, you know, it's the famous Yardini bond vigilantes. They're going to be the one to tell you, but not at 475 uh higher than that. But um you know it's it's a warning. >> You think it was as much political as anything else? Just the need to try and get yields under control a couple months out from the midterms. >> Yeah. A couple months out from the midterms. Uh you know I I just don't think for for institutally I don't see how he can move either at the September meeting or the late October meeting. By the way, that that October meeting is 6 days before the midterm. So, you know, I can't see him raising rates 6 days before the midterms. Uh even if the market says, "Hey, maybe you should." So, maybe the reckoning is going to be December or after late November when, you know, Kevin said, "All right, that's you know, behind us." uh now we may have to raise rates uh you know if these pressures continue in the market. >> What what's this about do you think with rates? I think most people at this point suggest it's the paper that's coming on the market from the AI buildout and it's such a tremendous surge of it that it's forcing rates at the long end up. You could pile a couple of other reasons or excuses on top of that, but that doesn't sound to me like something the Treasury can do all that much about. >> Exactly. And and and they really can't and and really they shouldn't they should let the market speak and they should listen. Yes. The AI debt is one of the factors. uh the you know the persistent inflation is another you know during you know during that time you know oil has now moved up into the mid80s and you know we just don't know you know what's going to happen over the next two months there's a lot of scenarios where it could go above 100 again. So uh uh plus the expenses on the war and the deficit uh you know there's you know there's no there's no absence of factors for why there is pressure on that 10year and the 30-year and you know my feeling is let the market speak and hey let the let the government listen. >> So the S&P as I ask you these questions is 1 and 3/4% off of its high barely right. Um, and that speaks to the fact that the numbers that the market's most concerned about are related to earnings, and those are extraordinary. And that's why we're able to look past rising oil and rising yields to to some degree and maybe to a large degree. >> Yeah. >> So, shouldn't that continue? >> Well, I mean, you know, the earnings jump was extraordinary this year and we're predicting strong earnings going into the future. we will, you know, we'll see if that holds. Can we still get this sort of surprises on the high side. Um, so yeah, we got these higher expectations in there, but don't forget stocks are earnings over that interest rate. So you're absolutely right that the earnings have been going up, the interest rates have been going up, but you know, the earnings have been keeping up to keep it there. But now if those earnings high expectations not fall but don't continue to rise while the interest rate rises that's going to give a little you know that's going to give some capitalization problems for for the market. I don't see that near term because I don't see you know wars being really able to start raising those short rates uh you know before after uh the midterms come. So hey, liquidity is being fit in, earnings are good, GDP looks good. Uh, you know, this quarter, um, productivity is higher. That's another, by the way, uh, good factor that causes higher yields. So the market could continue to run, but those other factors that, you know, cause you to say, you know, all right, but there are fiscal problems that we eventually have to address. >> All right. So you're you're saying it's harder to justify the multiple in an environment where interest rates continue to rise. I I think that's that's that's what you're suggesting. >> Yeah. I mean certainly I mean I mean I I'm not saying four 3/4 I mean my feeling is yes the 30-year rose above five. If the 10year rises above five that which is really the true benchmark that's going to really uh you know catch eyes uh and cause a lot of buzz and people are really going to say all right uh you know what do we have here? >> What what do you think about Nvidia next week? Because aside from the chair speaking this is the landmark event of next week. maybe as much for Nvidia itself, but perhaps more so for all of the companies that are relying on whatever Jensen Wong has to say about the road ahead for the whole AI buildout itself. >> Correct. Now, let me ask you, Scott, have you ever heard Jensen Huang be pessimistic and downbeat? Um, I don't. Uh, and and he's been justified as he's been right. So um wow I mean if he gives anything that's downbeat that that's a sea change. So I think the market is expecting hey unlimited demands all you know Nvidia is good. Um don't forget earnings are you know these are you know second quarter earnings we're already twothirds of the way through the third quarter. Um you know that's you know when we we talked about Walmart you know not doing well with you know that was the month of April, May and June. So, you know, it's a forwardlooking. Would would he ever I've never heard him falter in his enthusiasm for AI. So, let's uh if if he doesn't, that will be par for the course. If he does, that will be a headline that I don't think long investors will want to see. >> No, no. I I I would tend to uh agree with that comment. Professor, stick with me. I'm going to welcome some others into our conversation. Bunstrat's Tom Lee is here today and so is Requisite Capitals Bin Talkington. And we're happy to say both are CNBC contributors. Bin, welcome. Tom's, good to have you here on set. What do you make of what the professor has to say here? >> Uh, I mean, I think Jeremy's pointing out some important things, but to me, I I actually think the Treasury by buyback was a wise thing to do. I I don't think it's any different than a company saying, "Hey, look, there's some things that are getting investors nervous about my stock, but it's things that are not related to my company." And I think that's what the Treasury signal was. And so I I don't think it's manipulation. It's it's really an indication of value and I think just trying to put some signal out from the noise. >> What if it doesn't work? >> Well, if it doesn't work, they they have more dollars to put to work. So I I do think uh you know the Treasury Department does have a lot of resources available. So I assume it's going to work. >> So you assume that yields are going to start going lower again? I think that we need to just have uh some ballast until we get some clearance or signal from what oil is going to do and the direction of CPI and things that are giving the market a little hesitation and of course Jackson Hole is this week or this coming week and I think that could provide some clarity and all that could quell whatever risk premium is being built into yields. >> Brenn, how do you see it? Well, I think a lot of the narrative this week has been, well, Kevin Walsh is in a little bit of a pickle because he's been saying, well, let's let let the stock let the bond market tell us what's happening. And then at the same time, as a juosition, Secretary Vesson is buying treasuries. But when you actually peel that back, the 30-year, first of all, the 20 and 30 year are very illquid. It's about a $6 trillion total market. If you look at long duration bonds, no one signals off the 20 and 30-year. It's really the 10-year, the 5year, the 2-year, and they're not buying that. So, I do think uh Fed Chairman Walsh actually has the ability to thread the needle to say, first of all, these purchases by the Treasury are tiny relative to the aggregate amount. And it's more of a signal that the Treasury says we'll come in and buy these longer duration yields because the reality is the 10ear and that that that shorter duration is really what everything is set off of. And so I think that the market though the stock market will be rangebound this week because as both the professor and Tom said you know the meeting at Jackson Hole which he speaks on Friday. I think that's really going to be the seminal moment where we understand what is he actually thinking or what's he going to tell us about what he's thinking since he already says he's going to be a man of few words um as Fed chairman. >> Tom, do we think that next week is the most consequential for the direction of stocks in the next few months. You know, you're not going to hear from Nvidia again for a while after next Wednesday. And then I don't think people really think that anything from the Fed's going to happen in September or even October until you get to the midterms. That feels to me like it makes next week even more consequential for stocks. >> Uh I'd agree. I think it's what I'd consider a clearing event because let's take the AI story. There's been concerns about data centers and political opposition and it's caused this the trade to stall. I think it I think Jensen Hong is going to reinject a lot of confidence that look there's still this relentless demand story and it's going to be taking place regardless and similarly on the Fed. I do think the uncertainty builds between Worsh's appearances and so I think this is another chance to course calibrate. >> You you raised an interesting point. So you think what certainly appears to be growing opposition to data centers is having an impact on that trade in the stock market. it is because uh if data centers can't be built then the entire bottleneck trade doesn't look as durable. So I think that what we saw in Ohio and in Florida and and Texas and Pennsylvania which is now governors putting potential moratoriums or even voters saying it's a political issue is causing investors to pause. >> What if that doesn't change? I mean, the I'm literally looking at the one of the most recent polls right in front of me that I happened to see earlier today and the support is decreasing across all political parties. >> Yeah, I think it tells us that the AI industry, especially the labs, have to start messaging that it's not doomsday. You know, I think it's a very something that they that this political issue could become a problem. But that's also why the downstream AI stocks are starting to work. The software this week did well. uh you know even the biotechs and then the cryptos because they're all downstream stocks to the AI story. >> How about that Bin? This correlation between the lack of support and decreasing support for data centers and problems in what has been an incredible trade this year. I think we're all thinking about the same kinds of names when I bring this issue up. The microns and everything else. >> Well, if you think about what goes in a data center, it doesn't all go in at once. And so I think memory can be more affected or will be more affected than than certain hardware. But I think that what happened in Texas actually where obviously I am is a really big deal that from my understanding like I get what Governor Abbott's doing. It makes a ton of sense. But now that like no one's getting through on the permitting for the most part. And so I do think that we're already seeing this log jam like 60% of capacity that was supposed to come online in 2027, Scott, has not even started to be built. And so I do think this is not a narrative. It's not a story. It's happening. And I think going into the midterms, you know, I think the Republicans are really concerned that Ohio is going to flip. Um, and that's another data center country and count or data center state. And so I think this is really important that investors really need to take a close look at this. It's not going to stop it, but I think it will definitely we could we could have some downslides as we're trying to figure out well then how do you where do you do with all this stuff that's not being able to be built yet? Is it going to get built? Where is it going to get built? So I think the market is discounting it right now and I think that's probably not a wise idea. >> Professor, is this an existential issue that stock investors aren't taking seriously enough? Yeah, I mean it, you know, it reminds me of 10 years ago about the whole fracking debate. Remember, uh, the states, you know, shut it down and all that. Those states that allowed it, boy, they they they gained energy independence and it saves it saved us now. I mean, we doubled oil production and if without what is going on in the Middle East, had we not had that energy, we would be in a in really severe state. So I mean the case has to be made that you know data centers are going to be net positive and there's a lot of misinformation just like with fracking misinformation a lot of misinformation on these data centers but remember Texas is number one if Abbott you know says uh you know we have to look at things uh I think Pennsylvania my state is number three uh Shapiro who was once a big supporter of it has pulled it on I think they're reading some of the polls and the midterms are coming out >> as politicians are tend to do. Um, but is there do you think do you think there's significant market risk that's being um underappreciated right now around this issue? >> Well, I think there's enough money to solve a lot of these problems. Um, actually, I mean, a lot of the problems on water, they they don't understand that a lot of it has now been solved. the question of now providing your own electricity. Some of them are doing that and and paying for upgrading the grid. I mean the amount of money that is available to ameliate all these problems is has we just have never seen it before. So hey listen, progress is a trade-off. Economics is a trade-off. Um there's nothing that is unambiguously good in all aspects. You just have to weigh all the positives with all the other factors. >> You still think, Tom, over the next 10 days, you could get a pretty nice market rally, don't you? >> Yeah, I think so. I think we're going to make new highs towards 7,900, 8,000 on the S&P 500. But part of it is, as you said, I think next week is a clearing event in a positive way because it's introducing some visibility into topics that are a little uncertain. >> And Bren, this market, if nothing else, has been able to deal with these clearing events pretty uh orderly. let let's say uh from situational awareness to all of these other issues that we've had along the way in this this bull market. It's a resilient market that has found various ways to deal with whatever's been thrown at it. Most recently the upset in that hedge fund, what it did to the momentum trade and how, as I said, we've worked our way back to not that far from new highs. it again. >> I think just like America is resilient, the economy is resilient. Well, we haven't had a recession in 15 years is that the market is resilient and so I think earnings are still there. I do think there will be air pockets around these data centers by the way. I do think that's going to cause some air pockets, but ultimately this is coming. We want this to be here with AI and uh but I do think there'll be air pockets, but I think the market's telling you you need to be in it. Don't get shaken out. Do not get shaken out. stay in it because this is an exciting time uh for both the market and the economy. >> All right, believe it there. Brenn, thanks professor. Always thanks to you as well. It's Friday tradition of ours which I like so much. And Tom, thanks for being here as well. Broadcom, the latest tech giant heading to the debt market. Speaking of to finance its AI boom, Christina Parts following that for us. What do we know here? >> Well, Broadcom wants to sell billions in AI chips. The problem is its customers can't always pay upfront, so it's helping finance the purchases and essentially keeping the debt off its own books. CNBC has learned Broadcom is in talks to raise more than 60 billion, maybe even 70 billion for a new AI chip deal, a package that could hit 100 billion, first reported by Bloomberg. It would benefit Anthropic and of course others, and could resemble XPV, which is really just a financing platform Broadcom set up in June with Apollo and Blackstone, a separate entity. What it does is it raises the money. So, an SPV, a special purpose vehicle, and then leases the chips to customers. Broadcom's role is that it co-signs a lot of it. If a customer can't pay, Broadcom covers the gap. And so, what we're hearing so far is it's at the senior level, the senior uh debt level. CEO Hawktan rejects the word backs stop, though. I was just going through uh his the previous earnings transcriptions uh and saying that's not the case. But, Bank of America says that exposure could reach $370 billion by 2029. Broadcom, of course, isn't alone. We talked about Nvidia having a similar platform targeting $500 billion but only backs stopped up to 25% of each deal. So a little bit further away from the problem. Meta has done a version of this too raising roughly $27 billion for a data center it now leases back. This happened last year. It all works while AI demand outruns supply. The risk is what you guys just talked about Scott if it doesn't. >> Christina thanks. See you in a bit. Christina parts Palanteer a big winner in the S&P today hitting its highest level since January. Sema Modi is following that tells us what's behind this move. Hi >> hey Scott. Well the stock has been on a tear then the rally in Palunteer ignited in early August following blockbuster earnings. CEO Alex Karp telling CNBC exclusively at that time he sees the company's 150% growth rate as sustainable over the next 18 months. Karp continues to beat the drum on data sovereignty at a boot camp with customers in New York Wednesday urging them not to hand over their data to the Frontier Labs. And if they do, they risk getting cannibalized. Frontier Labs seem to be listening. Open AI saying it will promise not to retain data from businesses. So perhaps Karp's message is resonating. Scott, we're looking at shares now up 46% already in August, its best month since November of 2024. And now positive on the year. Wall Street continues to warm up to the name truest analyst. recently saying Palanteer continues to benefit from this pivot to openweight models with its application application layer. It sells to clients. Twothirds of analysts right now have a buy rating and the average price target at $200 a share with stock up higher today. Scott. >> Okay, Sema, thank you. That's Sema Modi. Let's send it now to Pipa Stevens for a look at some of the other big names that are moving into this Friday close. Hi. >> Hey, Scott. It's a retail roundup with more reads on the consumer. So, let's start here with Ros Stores in the green after an earnings beat with the company also raising fullear guidance. Same store sales coming in ahead of estimates with raw stores pointing to higher traffic, adding they saw new shoppers across a range of incomes while existing customers spend more. Moving over to BJ's Wholesale because they raised their fullear forecast and they also pointed to shoppers seeking out value. Higher income households driving the beat with grocery, consumer electronics, and homegoods the top categories. BJ's member count reached a record 8 and a half million and membership fee income helped lift overall revenue, those shares up 3%. Finally, shares of Boston Beer falling after the company said its CFO will be leaving the company next month to become CFO at the ingredient maker Ingredion. Boston Beer appointed its longtime chief accounting officer as interim CFO while it searches for a replacement. Those shares down 3%. Scott. >> All right, Pip, thank you. >> Hey guys, welcome to my channel, BlueCloud Trading. I'm George. It is Sunday, August 23rd, as I'm recording this video. Took some clips from Friday's episode of Closing Bell, and we're going to analyze some of the stocks and ETFs that were discussed on the show. I also have some member requests down here for stocks and ETFs. And why don't we first start off with how the market performed and then we'll get into the index ETFs. So, let's take a look at that real quick. As I mentioned in the prior video on Friday, the S&P 500 was up43, NASDAQ was up 43%, Dow was up 0.98, and the Russell 2000 was up 77%. Reversing course from this decline that we were having midweek. So now things are starting to look a little bit more bullish as of Friday. Let me show you a few things that I noticed uh from the SPY for example, the S&P 500. So, here we are on the weekly chart and we had broken this, you know, consolidation box not long ago. We've got three weeks now that we're staying above the 76040 level. And yes, uh price did drop a little bit, but it never did break under that level. And that's really important. If we look at the daily chart, here's that little pullback that you see here. And then we had a gap up on Friday. So, you can see the gap right there, up 41%. So, it appears to me like we're maybe we will have a second leg up this coming week on Tuesday. Um, things should look more bullish because of this little action that I'm seeing right here for the spy. Let's take a look at the QQQ ETF. Uh, that was also up.35%. You can see here it found support inside the cloud. Found support at the Senko spam B from the Ichimoku indicator that we're using here. And I think it's uh more than likely to also continue to move up as a result. Now, would I be adding positions here? No. And the reason is price is still under the 9 period. It's still under this trend line. Um it's not perfect here. If you look at the weekly chart as well, it's, you know, we had a down week. So, we need to see some more confirmation. We need to see price moving above the high of the Q there. uh Q's 71567 would be the level that I'd be looking for. Uh Dow Jones also gapped up 089%. Right? So here's a DIA ETF. You can see the gap up and the continuation to the upside breaking back above the 26 period. Things were looking a little dicey here because whenever price breaks under the 26th period, um that's a little bit, you know, of a negative. Obviously, it doesn't always hold up. You can see here we had a break under the 26th period in the moving averages. The bottom line is we're still in a very strong uptrend here. All right, we've got higher a series here on the daily chart of higher highs. There's a higher high from the prior high, a higher low that's now starting to develop because of this up move from the prior low. And so if if we can break above that 9 period, that's going to be the key for the Dow. Um the price there is 53446. GLD the gold ETF. Look at the look at the the power here of this stock. It's breaking through. You can see the directional movement index is also showing a lot of strength recently. So how does a directional movement index uh indicator work? We're looking at the positive DI9. That's the green line. And the negative DI9 is the red line. When that green line is moving up, the red line is moving down. that's positive. The green line, when the green line is above the red line, that's also positive. And we also have the ADX9 superimposed here where that represents momentum. So if the green line is moving up, the red line is moving down and the white line is moving up as you see here. See that sharp pop right there on high volume. If we go straight up, let me just go ahead and go straight up at that point. All right, that's the candle where it all started happening. Price broke above the moving averages. That was the beginning of this move in gold. Now, uh it has moved approximately 12.69% since that point. All right. It also broke through this consolidation box that happened here on Wednesday, August 5th. So, you know, since that point, it's up 9.89%. It also broke through the cloud itself. And recently, as of uh Wednesday and Thursday here of this last week, it broke above the 200 day. That's that dotted yellow line that you see right there. All of that is confirming this move here for on the daily chart at least for gold. It's looking very bullish. And I want to show one more thing is the how the cloud here has turned bullish. Right? So we're in the beginning stages now of gold moving up. There is one problem. The weekly chart is still slightly bearish in that price is still inside the cloud. But we did break through this falling wedge pattern. We talked about that recently. I see a continuation to the upside. I certainly wouldn't be shorting gold. And uh you know, if you have positions in gold stocks, they're obviously doing quite well, like the ones that I have in my portfolio. By the way, I did go over my uh portfolio this weekend in my membersonly video. You may want to consider becoming a member to access that. How do you do it? You hit the join button on my YouTube channel. Click join. Select BlueCloud Trader. That's the minimum level that you need to sub subscribe to in order to or join in order to get access to the exclusive member onlyly videos. It is $24.99 a month. BlueCloud Legend level membership. Okay, it's $49.99, but what you do get is in addition to um member only videos, you'll also get daily stock and ETF trade updates. And you'll also get a daily scan result uh of the of the stocks that pop up on my scanner each and every day giving buy signals and that's I think one of the more important things as well. So consider becoming a member and remember it's free to subscribe and hit the notification bell. Guys, let's get back. So gold looking very bullish here on the weekly. Looking very bullish obviously on the daily. Let's take a look at the Russell 2000. The Russell 2000 is uh between the two moving averages. All right. It still needs to break above the nine period here. Um, but it's still also in an uptrend. We've got a series of higher highs, higher lows. So, I believe that we're going to probably see with this bullish candle here, a move on to on Monday on to the upside. The directional movement index does not confirm this though. Okay, we've got conflicting information on the directional movement index. So, that's why I would wait for more confirmation. Maybe even wait until it gets above that 30272 level. It's based on these prior highs here. How about FEZ, the Euro stocks? Here's the daily chart breaking back. Uh it well, did it break above? It did not close above then the the 9 period. It got close. It it pierced it. Do you see the the little wick that you see right there, but then closed onto the 9 period. So, it was up 67%. It did gap up, you know. We'll see what happens here. I do like what is happening with the directional movement index. We're seeing the green line moving up, red line moving down, but the ADX hasn't uh showed the momentum yet. So that again this represents momentum. As long as this is declining, what price is essentially doing is moving sideways. Okay, what else do we have here? We got silver SLV which is up 1.72%. It's getting close to the 200 day. All right, it's very close to the 200 day. We'll see if it can continue to the upside. That's the daily chart. There's the weekly chart under the cloud still. But you know, one of the cool things that I've noticed recently also with this one is the fact that it broke through an important trend line. So, we take the high of that candle, the high of that candle, and we put it all the way through. Do you see that breakout right there? That happened this week on the weekly chart. So, it's a weekly trend line that's been broken, you know, diagonal trend line. We also broke above the 6037. It's based on that prior low right there. So, that's really key. You know, we're at 6272 now. So, silver is looking more and more bullish. If you look down below, the directional movement index has also turned bullish as well. So I think we are in to see a an up move in silver. Ideally I like to wait for all of the elements of the Ichimoku indicator to play out for confirmation. But if you if you find individual stocks where all the elements are looking good, okay, on both the weekly and the daily, there's no problem there in adding positions in those specific stocks. The oil K, this is the ProShares K1 free crude oil strategy ETF. Um, this one too, I like the what's happening here on the weekly chart. Price breaking above the prior week's high, closing above it. The you'll you'll notice that the faster moving average is still under this lower one because of the movement that happened here with this decline. But I'm, you know, more positive than negative. Uh, you can see the p the directional movement index has also turned positive here on the weekly. Here's the daily chart. You can see it was up 31%. We have a bullish future cloud here. That's when the senko span A crosses above the suspan B. The light colored blue line crossing above the purple line that always projects 26 periods into the future by the way. And the chica span that lagging line which is the current price projects 26 periods into the past. And if that white line is above the candles 26 periods ago, it's very bullish. So we want price above the cloud, above the moving averages. Everything looks good here on the daily. Let's look at the weekly. Here's the weekly chart again. Okay. So, it's also looking pretty strong. I like what I'm seeing overall. And we also broke through another diagonal trend line. So, if you take the high from that candle and that candle, you'll see that we did break right there. All right, let's keep going. Bitcoin IBIT had a huge week. Uh 6.02% just on Friday. Now, uh it on the weekly chart, we broke through not just the 9 period, but also the red line, the 26 period. That's the midpoint of the last 26 periods. So, that's a good sign. High volume. The directional movement index has turned bullish. If we look at the daily chart, but I just want to make sure that you understand that we're still under this cloud. We still haven't broken above this high here of 4668. So, I wouldn't be ultra bullish here yet. Here's a daily chart. If you're a short-term trader, it's very interesting what's going on here. You can see the gap ups that are happening day after day. There's obviously a lot of volume. There's a lot of uh participation here. Okay, you see all that volume on the number of shares traded and so I like what I'm seeing. It got even got above the 200 day moving average which is which is interesting. So it all happened very quickly. It's very volatile of course that's Bitcoin and Ethereum is doing something similar ETH. So Tom Lee's got to be very excited about that with his company BMR. Well, it's not his company but he's um involved in it as I'll mention in a few seconds. So ETH is looking good on the daily on the weekly chart. Also a strong weekly candle. When was the last time that we had a candle like this? Well, all you need to do is go back in time a little bit. Look at the size of this candle. Go back to this candle here. Do you see that? So after that decline, price was under the cloud. We had that type of candle. A lot of move in the in the stock. In fact, if you go straight down, the volume wasn't as significant in this move as it is in this one. It It's higher. So, that tells me there's more interest, there's more volume, there's more trading happening. And uh the other thing I like about this candle, notice there's no wick on the top. At the end of the week, there was a slight wick right there. Uh so that's even more bullish. So, I think Ethereum and and the other thing also you have to take into effect into uh account is the fact that we also broke through this. See, if we take this high and that high and we draw a trend line all the way across basically just like that. Notice how we broke through here and we broke through this little consolidation area now and now we're off to the upside. Um, VIX dropped 5.5%. That's a good sign for the markets. That's the market volatility or as they call it the fear index VIX. So when that's dropping that's a positive. That's the weekly chart. There's the daily chart. Okay. and let's go to some of the stocks that they talked about and we'll go into some of the ETFs. Let's take a look at uh Boston Beer Company. All right, Sam Adams. So, um down 2.55%. It's inside the cloud. It's under the 200, you know, uh the the all-time highs. Let's go to the monthly chart to take a look here at the all-time highs of this company because it hasn't really been doing well. Looking at the monthly chart, the highs go back to 2021. April, April 30th of 2021 where it was around $1,337 a share. Guess what? It's dropped 86.10% around that, right? We look over here. So, that's a huge move. These these candles each represent a month and price dropping month after month after month. Okay. So, um not good. Not good. I'd stay out of this one. Obviously, there's the weekly chart and there's the daily chart. Although it has stabilized a little on the daily chart, that doesn't mean much to me. Uh let's take a look at the next one. BJ's Wholesale Club. Let's look at the weekly chart first. This one has also been in a decline here from the highs. It's dropped about 20.5% uh since November of 2026. And um I'm sorry, did I say November 2026? I meant to say April 11th, 2025. I was looking at this up here. Um April 11th. Yeah, since around April 17th or so. Okay. 20 point 20 20.2%. It's still under the cloud. It's still in a series of lower highs, lower lows. I'd stay out of that one obviously on the weekly chart. And if you look at the daily chart, it's yeah, it's showing some strength recently, but the moving averages are not in the correct order. Um, it's a messy looking chart. I'd stay out of that. the Granny Shots. This is uh Tomley's ETF, Funst Strat Granny Shots, US large cap ETF. It was up 1.16%. So, you can see the gap that occurred on Friday after these multiple negative days. Uh we had the gap up finally on Friday. It's more than likely to continue to the upside at this point based on this pattern here. Okay, the gap up and the continuation. I think we're going to see that, but we'll see on Monday. Uh let me show you the weekly chart again. Here's the weekly. All right. So we're still stable in this consolidation zone. BMR. Now this is the company that I was mentioning earlier. Tommy was appointed chairman of Bitmine Immersion Technologies. This is um basically pivoted to focus on building an Ethereum ccentric treasury aiming to become the micro strategy of Ethereum. Okay. And so huge investments in Ethereum. So if Ethereum is moving up, guess what? This company is doing going to do well. Up 5.84%. All right. On Friday, this is the weekly chart. Also breaking out, high volume. Everything is looking good. On the daily chart, it actually reached the 200 and stalled. So that's not a good sign necessarily because a lot of times price will reach the 200 and pull back for a short pullback. And maybe, you know, we'll see that pull back and then it will continue to the upside. But right now, there's a lot of momentum. Look at all the volume coming into this. And the ADX looks strong. Rost, Ross Stores, Inc., let's see in the apparel stores that's in that that industry under consumer cyclical that was up 4.39% on Friday. But I don't like the type of candle that formed here. So when you see price after it's been declining, then it moves up and you get this type of candle. It's called a hanging man candle. Uh let me show you guys that pattern. Let me go to my X page here. So, we're on X.com/bluecloud trader. If you scroll down a little bit at the top here, you'll see the candle pattern reference sheet. Let's click on that and I'll show you the hanging man candle. It's right here. Okay. So, after a move up, you see a small body and a wick at the bottom. doesn't necessarily have to be a small super small bot, but when you see a long wick at the bottom, that's the thing to to watch out for. And uh guys, if you haven't followed me yet on there, check it out. Check out my X page. Um, let's see. Let's go back to the charts. One second here. There we are. So, that's what we're seeing here. This is looking more bearish than bullish, even though it was up 4.39%. Here's a weekly chart. Weekly actually looks more bullish than bearish. So, we got conflicting info. So when you get this type of candle after a pullback, this is actually a higher probability to the upside next week, which is interesting. So this is called a hammer. Let me go back. Now, it wasn't a blue candle like it is here, but it is a bullish candle nonetheless when you see a long lower wick on the bottom and small body. Let me show you that pattern again on the on the green side here under bullish single candle patterns. When you see that same looking candle after a decline right there, that's what represents a potential move to the upside, especially if price breaks above the high. So, that's what I would be watching. All right, now let's get back. So, ROST sending conflicting information. The daily chart, I don't like the fact that it closed under both of the moving averages. We'll see what happens on Monday. PLTR looks pretty bullish on the daily here. I like what I'm seeing technically on the daily. The problem is when you look at the weekly chart, the cloud is still bearish here. You see the future cloud is bearish. Um otherwise it looks pretty good. Like the cloud is the only negative uh with Palanteer. All right. I like what the directional movement index as well. Broadcom AVGO dropping under the moving averages here. Just moving sideways. Nothing special happening with Broadcom on the weekly and on the daily chart. You can see we were up 1.21% but we're still under the cloud. I would stay clear of this one for now. Utilities. Wow. XLU. Check out the decline. Down 2.28%. There's one sector that has not been keeping up with the rest of the sectors. It's been dropping. Here's the weekly chart. You can see it's entering the cloud and looking quite negative here. I don't like what I'm seeing. But we got a lower high. All right. And a lower low here from the prior low. So that's negative. DR AM Round Memory ETF was up.17%. There's a weekly chart. There's not enough data here for the cloud to fully form yet because it's so uh new ETF, but if we look at the daily chart, we can see that it's still under the cloud. I'd hold off on that one. IGV is the software index fund ETF. That's under the 9 period right now. It looks pretty bullish otherwise. And then if we look at the weekly chart, uh the cloud is still bearish. So this not we don't have both of the time frames uh giving us confirmation. Let's keep going. We got some member requests here. Let's take a look at DK is a ticker symbol for Delic US Holdings Inc. One of our new members requested this. And this price here broke right through the 6893 level. It's a level that this is a level I created back on August 14th. Once I highlight that, I can see the date that I created that. And uh it was based on a daily based on this candle right here. When I switch it to a daily chart, we can see that clear. So there's the high right there, 6893. And what's kind of cool that I'm noticing right now also is that this is actually a inverse head and shoulders pattern, which is bullish. Let me show you what I mean. There's the head. There's the shoulder. There's a second shoulder. And there's a neckline that was broken. Okay. So, it broke through the 6893. And uh so this has a high probability to the upside. All right. You can see the volume down here is very positive. You can see the green line crossing above the red line. That's the daily chart. I like this one. I like the weekly chart, too. It's all looking very positive. And since the initial break above the cloud back here, it's this stock has moved up approximately 189%. That's we're talking about going back to August 29th of 2025. So you can see the advantage of using this indicator. Ichimoku stands for at a glance what we're looking for essentially is price to be a at a minimum. It's got to be above the cloud. Uh when it's under the cloud, it's typically in a downtrend and those can can last for for months, for years. sometimes and so you want to hold off on that. Uh here's an example uh back here where you would not want to be in this stock. Uh going back to like 2024, June 14th, 2024, it dropped approximately 54.9% in just 10 months. All right? It takes time for it to recover again. Then you have to wait for that. And so your money is not put to good use. And so it makes more sense to be on the side, you know, uh on the positive side, on the on the side of the momentum, the positive momentum, not the negative momentum. Uh and look for those breakouts just like this one here. That's a good sign. See this consolidation? It broke out here. What happened? Price moved up. All right. Uh price was dropping here. Broke above these moving averages. What happened? Price moved up. So breakouts are what work. And when price breaks to the downside, it never turns out pretty. All right, you can see like a like right here where price broke under the moving averages, it dropped. Price moved sideways here, got back under the nine period, dropped, moved sideways some more, dropped some more. Okay, that's my point. So, GDXU is another one that uh one of our other um actually, yeah, one of our other members brought up. This is the micro sectors gold miners three times leveraged ETN. Okay, so here's here it is in the weekly chart. It looks, you know, it's these last four weeks or or so it's been moving up. The problem is it's still under this bearish cloud. Um on the positive note, it did break through a trend line. You can see the high from that candle and that candle. If I draw it all the way across three weeks now, we're above it and we're moving up. The directional movement index also looks good. If you're trading this on the daily chart, it is looking quite bullish because we've got a bullish future cloud. We also broke through the cloud here where we got resistance at 200 the 200 day moving average right there at around 20889. That's about another almost 12% away from where we currently are. So overall, it looks good on the daily, but the weekly chart is not confirming it yet. So it's up to you to determine if you want to add that position to your portfolio. you're taking a little bit a higher risk when you don't have both of the time frames confirming AGI. Let's start off with the weekly chart on this one also. So, it's re-entering the cloud. That's a sign of bullishness obviously, right? We're coming out from under the cloud into the cloud, but we're not above it yet. So, we're in the beginning stages here of a potential move to the upside. Gold has been doing quite well recently. And so, we're seeing it here in this stock as well. Right. And there's the weekly chart. And here's a daily chart with price breaking above the cloud on Friday. It did create this reversal candle though. And it is under this 200 day moving average. And something else I just noticed is if we take the high right there of that candle, see this candle June 17th, 2026, it's 3956. So expect some more resistance right there as well. And here again is the weekly chart. So let's look at CDE Core Mining Inc. And what we've got here is price. Let's see. Did it break? It did not break above the cloud yet, but it looks like it wants to. The directional movement index is confirming it here. And uh I like what I'm seeing overall. The 9 period is under the the red line though. And so that's not good. But uh overall, we these last three weeks, we've been seeing some strength. If we look at the daily chart, we can see the breakout that happened. You know, depends on what time frame you want to trade this on. uh if you want to trade it based solely on the breakouts of the daily chart, what I would also recommend is that you also utilize a secondary indic uh time frame, for example, the 2hour, okay? And use this also to help you. And uh you can trade, you know, the Ichimoku indicator on any of these time frames. The daily, the two hour, the one hour, there's a one hour, there's a 30 minute chart, there's a 15 minute chart. Okay? You can switch it around. But uh right now the yeah the weekly chart is still hasn't really confirmed things yet, but it's getting there. Guys, that is going to do it for this video. Uh if you like what you just saw and you like the charting platform that I that I'm using right here, it's called TC2000. There's actually a $25 coupon that you can you can get for free to use it and use the software for free for a month. Uh let me show you how to do that. again. Just come to my YouTube channel, BlueCloud Trading. Click on 10 more links right here. Boom. You'll see this pop up. Make sure you scroll down a little bit. This is where you'll find the links. There's the $25 coupon link. You click on that. Enter your email here. You can download the software. All right. If you scroll down a little bit more, you'll see you can receive a $25 coupon towards your TC2000 service, courtesy of Blue Cloud Trading. All right, you can even run it on the web or Mac. Um, let's see what else. And then over here's the pricing. Click on that. Click on software plans and data. Let's select monthly so you can see what the 24 There it is. $24.99 a month. So, you get to use the basic for free. I would recommend the premium if you want these additional features that you see right here under the premium features and these are really important. Uh and uh there's also the premium plus even more features. It's a bit more expensive. You can bring down the price of these by the way by switching to buy annual. Annually it brings it down to 41.65. So if you pay for 12 months in advance it brings it down to this price or this price for basic. And then by annual it brings it down further, right? So 37.49 for the premium. So you pay for two years in advance. You can also use TC2000 as a brokerage account. So they also offer brokerage and that's they're tied with interactive brokers. All right. They use the IB smarting smart routing and I would strongly recommend them. This is the the charting platform that I use. This is the also the brokerage account that I use for myself and that's why I am uh advocating it. Anyway, that's going to do it guys. Thanks for watching. I appreciate all of you. Don't forget to hit the like button on the way out. The ichimoku guiding light. Blue cloud traing through the night. Heat. Heat.