CNBC Warns on $100 Oil! What My Ichimoku Analysis Reveals About the Next Move 🚨

Blue cloud trading [singing] through the night. >> Welcome [music] 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. in the space and defense world. Meanwhile, Stoke Space announcing that it has raised about a billion dollars in an initial series E round that's led by co that's led by 72 ventures and spark capital. Stoke is developing fully and rapidly reusable rockets. This is the feat only one other launch provider is close to realizing and that is SpaceX with Starship. Stoke has not yet launched a rocket to orbit, but CEO and co-founder Andy Lapsis says its medium lift Nova Pathfinder is preparing for a first flight early next year. that the company is also working on a larger 15-tonon class Nova rocket as well. >> What we've seen is that um for for companies that are not SpaceX um the launch supply picture has really not changed much in the last few years. Um but the ambition has increased right so you know for for third party launch supply that's rel relatively stagnant but the ambition and the demand signal has gone very very high and that's true commercially that's true on the government side um and so it's it's really really important that there is a few other launch providers who can step up and fill that demand in order to create the healthy competitive economy with multiple players in multiple verticals in space and um and and we're pretty committed to delivering on that promise. >> Lapsa weather space has entered a new chapter as an investable sector. >> Said the last big domino to fall before this industry really explodes is the ability to get to space and back with aircraftlike regularity. And we're right there. We are so close. To see the full interview with Stokes Spac's CEO, just head over to cmbbc.com. Uh and looks like we have some stuff in the prompter that I'm not supposed to read. Um, but anyway, speaking of launch dynamics and what we're seeing in terms of the demand uh versus capacity situation that we've been covering so closely on this show, we did have more news over the weekend from the space sector. German startup Aerospace's uncrrewed spectrum rocket became the first commercial rocket to reach orbit from continental Europe, marking a breakthrough for a region where several countries are seeking a foothold in the fast growing market for satellite launches. The company's chief commercial officer telling our colleagues in Europe that the company is now focused on scaling production, saying the space industry was quote desperate for additional launch capacity. Also warning that Europe's launch infrastructure would need to expand to support the industry's growth. Now, the scale of VSAR's operations is currently dwarfed by those of US competitors, including SpaceX. Straight ahead though, Chinese rivals ramp up the pressure on Apple CEO John Turnis [music] and his first iPhone unveil as chief executive. First though, let's get a check [music] on Bitcoin after hackers took $320 million worth of BTC from Liquid Network. This is a blockchain used by several crypto exchanges. The firm says about 4,000 [music] of the 4200 Bitcoin held in its wallet were taken by so-called white hat hackers. In a [music] post on X, Liquid Network says wallets will be impacted. It's halted new transactions [music] and it's sorry for any inconvenience. Morning Call is [music] [music] I'm Morgan [music] Brennan. Welcome back to Morning Call. Let's get a check on US stock futures which are firmly in the red this morning. That's after a mixed week for the markets that saw the Dow close lower for its third week in four. We did see gains for the S&P and NASDAQ last week. Of course, this is a holiday shortened trading week here in the US, but as you can see, we're starting off with some weakness here. S&P is poised to open down about 27 28 points. The Dow down 448 points. The Nasdaq down 39 points. We're pairing some of the losses here pre-market over the past 30 minutes or so. Big drag on the Dow this morning has been Amgen. That's accounting for roughly 120 negative Dow points here at the open. Uh this after overseas rival Novartis late Friday said that late stage trials of two experimental drugs failed to meet their targets and US-based Ionis caught up in the selling as well as a key Novartis partner in one of those trials. You could see a lot of big moves on the screen. Amun's down 5% pre-market. Novartis and Ionis are both down about 12% right now. Now, if we check on some of the morning's latest headlines, though, oil spiking after Hoodi rebels launched a wave of attacks on Saudi Arabia this morning, wounding more than 70 people, sparking fires at several oil facilities in the kingdom's southern region. This is according to local authorities. This after Iran threatened to strike energy infrastructure across the Gulf, including US oil and gas interests. if the US military continues its campaign in the region. There was a lot of back and forth over the weekend uh including ships. Uh US envoys Steve Wickoff and Jared Kushner meantime spending the weekend overseas conducting their first official visit to Kev Sunday after meeting with President Russian President Vladimir Putin in Moscow a day earlier. Kushner and Wickoff describing the talks in Ukraine as quote encouraging. and NTSB officials giving an update on the deadly Amazon cargo plane crash at Miami International Airport over the weekend, revealing the fatalities all came from the vehicles that were hit by the plane and not on the Boeing 767 cargo jet itself. Now, the NTSB says that it has recovered the flight data recorder and cockpit voice recorder. Both are going to regulators where they will be evaluated and downloaded. and shares of Amazon, last I checked, and Boeing were under pressure this morning in the midst of all of this. Back on Wall Street though, S&P Dow Jones says Bloom Energy, Aluminina, and Everpure will join the S&P 500 as part of its quarterly rebalance before the start of trading on September 21st. You can see shares of all those companies are jumping on that news, and they will replace Molen Corors, Trade Desk, and Builder First Source. And investors are gearing up for Anthropic's IPO and an expected S1 drop any time now here this month. Uh the company's S1 though is reportedly not going to be released until late September. That's according to Reuters with IPO marketing likely set for the middle of October and listing just days before the midterm elections. Now this following an FT report that the company is close to naming Morgan Stanley to take first position for the listing. And if that weren't enough, it's also reportedly secured nearly $520 billion in compute deals amid surging clawed demand. Well, Canada is raising the stakes in its trade war with the US, boosting tariffs on $20 billion worth of US exports to Canada by as [music] much as 50%, hitting products from steel, aluminum, and plywood to clothing, cosmetics, motorcycles, and cheese. That move coming in response to US tariffs of a similar dollar amount of goods announced late last month when trade talks between Ottawa and Washington fell apart. More US tariffs are set to take effect in the new year and no new talks have been scheduled, at least not yet, according to reports. One comp company that's caught in the middle of all this though is Montreal based aerospace giant Bombardier. The president threatening to boycott the company's jets from sale to in the US saying the social media saying on social media quote if they want our markets they must build here and stop treating America like a piggy bank. Now in a statement to CNBC says its workers are based all over the US with direct employment in more than 20 states and sites in 10 states including California, Texas and Arizona. also adding that aircraft are built with Americanmade components like engines, avionics, all provided by nearly 2,800 US-based suppliers across 47 states. So, joining me now is Kellyanne Shaw, former White House trade adviser during the first Trump administration and currently a partner at Akin and senior adviser at the Center for Strategic and International Studies. Kelly, it's great to have you on, Kellyanne. Um, do we risk a wider trade war here between the US and Canada? Yeah, good morning. And and I would classify this more as a trade row rather than a full-blown trade war. And what I mean by that is even with the US retaliatory tariffs from a few weeks ago and Canada's tariffs that just went into effect this morning, we're still talking about less than 5% of US Canada trade being impacted by any of this. Which means most of the trade going back and forth continues to flow duty-free. This isn't the same thing we saw with China where we had tariffs of up to 100 plus%. This is a very small percentage of trade. There's still an off-ramp here, but I do think tensions are pretty hot at the moment. You know, when I see things like dairy on this list, I mean, this was already a sticking point in terms of the US being able to, you know, send more of its its dairy products, its cheese products into Canada. So I do wonder how much of this really has an economic bite to it versus uh being about the political optics in a place where like Canada where it has made a lot of sense for politicians, Mark Carney included, um to really fuel the fire here. >> Yeah, exactly. There's a lot of symbolism. There's a lot of political messaging attached to the specific sectors and products that Canada targeted in its latest round of tariffs. But to your point, none of this really makes any sense from the US negotiating perspective. And I understand that Canadians have a very different view of what happened. Both sides seem to be living in two alternative realities about the facts on the ground. But the deal was effectively Canada remove your retaliation on dairy and autos and comply with your USMCA dairy commitments that you made 6 years ago in exchange for 232, the sectoral tariff relief. And that's the deal that was on the table. That will likely be the deal several months from now if the parties do get back together. So from the US perspective, this is mostly about politics. It's about political messaging. And to your point, the economic impact of this is relatively muted. >> Uh what is the read through to other parts of the world? Um especially economies that maybe aren't aren't, you know, the US and China, we'll say. Um, as we do see the UN General Assembly kick off here and there has been this framing that Canada uh is in a tentpole position to potentially create uh a blueprint for other countries in similar positions to move forward when it comes to trade. >> Yeah, I I think that's what the Canadians are trying to do. They're trying to show that they're tough and standing up to the United States and and having other countries follow. But if you look at all of the other major trading partners of the United States, every single one has struck some sort of deal with the administration. They've tried to work it out. They've taken a different approach, and those relationships are relatively stable. But again, we're talking about less than 5% of trade between the United States and Canada here. This is not a full-blown trade war. This is not impacting our entire respective economies. I don't know that it's really going to be a path forward for other countries to follow here. I think this is really just specific between the United States and Canada. >> Okay, Kellyanne Shaw. Great to have you on and get the context. Appreciate it. >> Good morning everyone. Welcome to Squawkbox right here on CNBC. We are live from the NASDAQ market site in Times Square. I'm Becky Quick along with Andrew Rosor and Joe is out today. Here we go on a Tuesday morning and you are looking at some red arrows as we look at the start of the trading week. Coming up, Dow futures are off by nearly 400 points this morning. S&P futures down by over 20 points. The Nasdaq indicate indicated down by about three points. It's coming on a decline in oil prices. We'll talk more about that in just a moment. But in the meantime, take a look at what's been happening with the Treasury market. On Friday, we got the jobs report this week. We get the CPI, all of it leading up to the FOMC meeting, a decision on rates anti anticipated. Ahead of that, the 10-year is yielding 479. The 30-year is at 426. The 2-year yield actually a little bit lower. It's at 437. >> Meanwhile, uh the big story right now, oil prices rising this morning on fresh violence in the Middle East. Saudi Arabia's en energy minister saying that some operations were halted after strikes by Iran alliance Houthi militants in Yemen wounded people uh maybe more than 70 people at this point. A military spokesman for the Houthi saying the group attacked Saudi Saudi Aramco's facilities in the country's south with drones and ballistic missiles. That follows US intervention over the weekend. Now, Central Command said that the military struck three Iranian oil tankers on Saturday in retaliation for Iranian ballistic missiles targeting two navy warships. Meanwhile, an Iranian foreign ministry spokesperson telling reporters yesterday that Iran and Oman were closing in on a deal to manage shipping through the straight of Hormuz. Here in the US, AAA saying that Labor Day gas prices stood at $4.15 a gallon. That's the highest ever for the holiday. and equity prices moving the opposite direction on the back of all of this news. >> Also, Canada's retalatory tariffs on US goods taking effect early this morning. Those tariffs range from 15% to about 50% across 27 billion dollar worth of US products, including dairy, agricultural equipment, and household appliances. Tariffs on US steel, aluminum, and iron products doubled to 50%. T Canada calling the move a dollar fordollar response to US tariffs after trade talks between the two countries collapsed last month. Yesterday on Truth Social, President Trump called for a boycott of Canadian airline manufacturer Bombardier. He said if they want our market, they must build here and stop treating America like a piggy bank. Bombardier shares are off by 6 and a3% although it is a little unclear who is expected to follow that. Would that be private companies? would that be public companies. Following that news, Bombardier released a statement saying that it continues to invest in communities across the United States. We also received a press release from Kansas Republican Senator Jerry Moran who said in part, "This afternoon I reached out to the Trump administration to make certain the president is aware of the significant contributions of Bombardier to Kansas and the importance of its presence in Witchah to many Kansas workers at Bombardier and the in the Bombardier supply chain. It's not just Kansas. It's also Arizona and other states that make up thousands of jobs for Americans in in making the parts and supplies for Bombardier. >> I was surprised that he went after Bombardier simply because just a week ago he'd gotten the major concession from Mark Carney to allow Gulfream to uh to be operated or at least to be sold into Canada, which is something that they couldn't do. We're still talking about less than $50 billion of a trillion dollar uh trade arrangement between the two countries. Hopefully, it doesn't escalate from here, but we will continue to keep an eye on it. >> Meanwhile, the head of the National Transportation Safety Board saying that the Amazon cargo jet that crashed over the weekend overran the runway at Miami International Airport and hit vehicles both inside and outside of the airport boundary. The incident killed at least five people inside a van carrying workers from a cleaning company and injured at least five others. The NTSB chair saying investigators will be on site for at least a week and won't determine the probable cause of the crash during that time. But she said that investigators hope to uh release more information about the crash today. The flight was operated by North Carolina based cargo carrier 21 Air. That's the name of the company. In a statement, Amazon said, "Our deepest sympathies go out to the families, loved ones, and all those affected by this devastating loss." And those images were really quite something to see over the weekend. >> Shares of Pharma Giant Novarta down sharply, a decline of more than 12% at this point. The company saying that its experimental drug for a muscle wasting disorder failed in a late stage study. Nois had acquired that treatment as part of its recent 12 billion deal for Avidity. The slump in shares came after Noardis fell 3% yesterday in overseas trading. It was driven by news that the company's cholesterol drug failed in a closely watched study as well. So that is the second pipeline setback this week uh for the most recent one. This was for musculardrophe that muscle wasting disease and we will continue to watch this too. >> And we are watching uh the Japan yen uh f against the dollar with the currency hitting its strongest level in seven months. Some traders anticipating now an interest rate hike from the Bank of Japan. This follows multiple rounds of Japanese government intervention in recent months aimed at propping up the yen and the Wall Street Journal giving credit and uh I should and we all should too uh to Scott Besson. So far uh that trade has worked. Uh that's the the story of uh or at least one of the stories in the paper this morning. Um, and interestingly, if you remember, he didn't use the phrase asymmetric information in that context, but he's talked about having asymmetric information in the past. This is one of those instances where clearly uh I believe that his conversations with the Bank of Japan and the officials there, he clearly knew or knew that he could either push them or that they were going to raise uh and hike, which is what the expectation is, and that's what's moved uh the currency. So get it gets at a little bit of the behind the scenes of how some of these trades work. Meanwhile, Nvidia CEO Jensen uh Jensen Wong hailing what he's calling a big leap forward for AI over the weekend on X. He congratulated OpenAI for its new GPT6 Astra model and said that AGI has arrived. AGI refers to artificial general intelligence which is commonly defined as AI that matches or outperforms humans in pretty much all cognitive tasks. that came as OpenAI's chief scientist though warned that AI is becoming more difficult for humans to control and called for a slowing of development. In a post on Open AI's website, he said, quote, "This is a time that calls for extreme caution. I'm concerned no one is prepared for the consequences of a continued rapid rise in machine intelligence. If you have not read this post, it is absolutely worth your time. in part because it goes into great detail about actually how much detail that the folks who are building these models don't understand about how they actually work um and therefore how they can ultimately be controlled. >> Is he calling for more regulation, a freeze in other people being able to do development? No, I mean I think what he what he does in a very um methodical way is lay out to the extent that they understand how AI works, how it works, and to the extent that they don't understand how certain parts of it work um and what they could ultimately do. Um it's it's really more for for the reader to just understand how it all um works. And when you when I think when you're finished reading it, you'll go, my goodness, there's a lot in there that that they don't ultimately understand. And therefore raises all of these questions about, you know, what kind of guard rails you can actually put in place, meaning inside the quote unquote constitution of these systems, meaning what you actually tell it it should be trying to do and therefore how it will try to do things. Anything that you are not telling it not to do, >> it assumes is fair game. >> It assumes is fair game. and even things and even things that it is told not to do, >> if he thinks that there's another way to do it, it might try to do that. And so the question is how do you constrain the system? Um I don't believe I should go back and re reread it. I don't believe he calls for a specific regulation or a specific approach. Uh so so far as to say that once you effectively once you throw compute at this problem which is what it is >> um and the more compute the faster and more interesting things this thing will try to do >> and that and and that I think that's the bigger point >> you're saying that this is an example of creativity not bad behavior but it may end up doing it may have unintended consequences and I I still get back to the what do regulators do about it? We had last week the regulator from Texas on who's working with Bernie Sanders who says we should just stop doing everything. >> I think that's very it's going to be very hard to stop doing everything. >> Me too. Me too. Me too. I just like how do we address it that it's one thing to have the information. It's another to try and figure out what to do about it and how much you can get your arms around it. Um >> that's the hard part. >> Yeah. All right. When we come back, top priorities for investors during this holiday shortened trading week. Perhaps none bigger than the fresh inflation data that we're going to get at the end of this week and what it could mean for the Federal Reserve. All of it comes after President Trump on Friday demanded that the central bank cut interest rates or he said he'd stop trading with countries with which the US has a trade deficit. All of that and much more. >> We think AI should be able to help you with this a lot. >> We are identifying things. >> We are very very actively involved with all the frontier models and we use those models very effectively. You know why it works? We don't think like fraudsters. Actually, I talked to Moan about this. You mentioned them earlier from Bank of America. What what I didn't realize is bank managers aren't good fraudsters. >> They don't think that way. But fraudsters are really good at it. So, if you use AI to get a bank manager to think like a fraudster and do the things they would have done to prevent what they're about to do, it actually works. We're now taking a page from that uh playbook and using it in government. So, we're thinking the way a Chinese criminal is thinking about fraud in New York City or Russian mafia in Los Angeles, by the way, we shut down half theospices in Los Angeles >> because we real and they didn't complain. If I if I shut down a business that you own making tens of millions of dollars a year, would you make noise about it? >> Oh, yeah. >> If you're legitimate, nothing. Zip. >> I'm just thinking about the implications of teaching these AI agents to think like criminals. >> Welcome back. Oil prices rising after a new wave of strikes on Saudi energy sites by the Houthis. The US and Iran also trading attacks over the holiday weekend, including US strikes on three Iranian oil tankers in retaliation for two attacks on Navy warships by Iran. Let's bring in Francisco Blanch, BFA Securities head of commodities and derivatives research. Francisco, the art of the art of forecasting, it's never easy when it comes to the price of oil, but now I mean what what assumptions do you have to make? I saw you raised your forecast for prices today because the hormuz isn't open but still I think are betting on some sort of recovery. Talk us through it. >> Um hey s we are we are still expecting normalization. Uh frankly it's it's a little difficult to say where things are going from here. Um but the one thing we're saying is look if there is normalization we go back to the original terms of theou or there is a new deal between the US and Iran and and flows resume through Hormuz we will likely see lower prices and we'll end up somewhere in the in the mid80s range for the balance of the year but of course if that doesn't happen if we end up with um increased uh tensions uh skirmishes will be 95 5 plus if if we end up with an outright uh military confrontation that's more more wide in the open, we could be 120 on Brent and potentially 150 if if uh strikes end up targeting last large energy infrastructure. So it it's a wide range I realize but but the range of outcomes is also extremely widely wide. the the impact also on other energy products, right, which has which has been bigger. Carl mentioned diesel earlier, the refinery outer outages. Just talk us through where we're seeing the most pain right now. >> Right. So, so the biggest source of pain is uh the diesel market. Um, we've lost refining capacity in Russia as a result of uh Ukraine strikes um on on Russian refineries and we've also lost uh a large amount of refining capacity in the Persian Gulf which uh obviously is is being deemphasized because um the US Navy has been escorting crude vessels. uh placer is also uh China which has been running uh very little crude in its refineries as a result of the curtailment of of crude supplies from the Middle East. Um that that's the big story. So uh diesel is at uh near record levels for the year even though the price of WTI and the price of Brent are trading $30 $40 under the highs that we saw at the beginning of the war. So, that's the big difference. And I think I think diesel here uh here we're going into the winter season. Uh still hot, but it's going to get cool pretty soon. Uh we also have a relatively strong industrial activity backdrop around the world on the back of the AI race. And uh we have the harvesting season as well which is kind of kicking in soon and and that's going to lead to a lot of demand for diesel. So you have a lot of reasons to be careful here with inventories completely depleted here for this. >> Francisco on China is it your base case that they do become a more aggressive buyer and would they do that because they need to or because they want to apply they want to move the market. I don't know if these for instance if if his visit to the US doesn't go well. >> Well um you mean on on grains? Uh we think they'll have to come in. >> No I'm sorry. China on China on crude. >> On crude. Yeah. So on on crude specifically um the Chinese have been out of the market as I pointed out for a bit in terms of crude oil purchases since President Trump imposed the double blockade and their inventories domestically are coming down very fast. Uh today we saw new reports suggesting that we've seen over 120 million barrels of above ground crude storage in China dwindling in recent months. So they are under increasing pressure. the the refineries are running low. Uh their inventories are coming down quickly. So obviously uh the pressure is building up on China. I've always said that um if if the war lasted for a few weeks, uh China could handle it maybe 6 months, but it's already been 6 months and inventories are coming down. So the Chinese are going to have to come and buy crude oil in the market. We are seeing big premiums on cruds delivered into the Asia region that can go into China, Japan, Korea well above Brent and WTI prices. So that is a sign of pressure. Uh it is concerning and of course um yes they do have a large strategic reserve but we are now seeing Chinese inventories of crude oil specifically below last year's levels despite the big inventory build that they they went through in the past um in the past 12 months. uh they have room. They can they can probably withstand the pressure another 3 four months but at some point um they're they're going to run out and have come they're going to have to come back to the market. Part of your part of your thesis, I think, is that, you know, and and why oil prices are not higher than where they were is is UAE and Saudi have really ramped up their exports and their alternative routes, which is which makes me wonder about this Houthi attack, the Iranianbacked Houthis on Saudi oil infrastructure and just how serious that could get. >> Sarah, that you make a great point and that's why we've had prices rallying overnight. Um, of course, uh, the US struck, uh, three uranium vessels during the the long weekend as well. So, uh, we're starting to see attacks again on energy infrastructure, which is never a good sign and certainly puts a bid on prices. Um, the Saudis really rely on the Red Sea right now to get a lot of their volumes into the global markets. So um instability with Yemen is is uh going to create problems for the world oil markets. Um like I said it six months ago we had high inventory levels and we had a surplus in the oil market. So uh it was easier to manage the situation. Right now we've we've drawn hundreds of millions of barrels probably close to a billion barrels around the world in strategic storage all over uh in in petroleum fuels uh in just commercial crude stocks and in petrochemicals. We don't really know how much uh secondary and tertiary inventories are down and and how much people are pulling down their plastics inventories for instance. So we're just getting close to that point closer and closer where things are going to get painful for the economy into the winter if there is no solution to hormones. >> Yeah. And you say you still you still feel good about $83 Brent in second half 26 with that's your new forecast. >> Maybe maybe I'm I'm hoping that we are going to get back to some kind of normaly here. >> Um >> I mean I'm saying it's also likely that we see skirmishes continuing. Uh but but certainly um I I do think there's a window into the winter where where you know um things can get a little better. Um but of course it's down to US and and Iran is down to to President Trump and and and the Iranian government. >> Francisco, thank you for joining us. >> Carl, thank you. Welcome to the halftime report. I'm Scott Walker front and center this hour. The big week for stocks and key inflation data is looming. Apple's iPhone event [music] is taking place tomorrow. We discuss and debate the markets with the investment committee. Joining me for the hour, Joe Terteranova, Jim Leventhal, Brian Felski. We're red across the board. You know the story by now. Uh oil's up WTI highest since June. The global energy ETF is at an all-time high. Goldman's talking about $120 a barrel if things intensify in the Middle East. Labor Day talk dominated by a record high for gasoline above four bucks. Yields are up. CPI is looming. We'll get to Apple in a moment. 60% chance in the market of a 25 basis point hike. So that's kind of the stuff that's going to be in your face. >> Yeah. >> This week is pushing up against very strong very strong tailwinds and those are the earnings, right? The earnings are really have been spectacular. I don't know. I feel pretty good today. The momentum factor which we identified last week is kind of being washed out. It's actually rebounding today. I've got the semis up. I have optical up. I've got the infrastructure higher. The weakness today to me it's attributable to Amgen. Amgen's 5% of the Dow. Amgen's down 9%. We'll get into the reasoning behind that later. But I feel pretty good about the fact that momentum seems to have found a little bit of a temporary bottom. And if the market wants to rotate here, wants to move away from where we kind of held serve and financials and healthcare and go back into that momentum AI trade, I think the market will be comfortable with that. Comfortable unless you know, unless oil gets away from you, less yields get away from you. 10 days from the Fed meeting, unless that sort of gets away from you and what is a 60% chance in the market, I don't know that people really believe that it's that high. I'm sure you probably don't. >> Nor does probably anybody sitting on this desk today, but that's going to be dominating the narrative as we, you know, figure out what to do from here to there and see what happens in the markets, Middle East, and everywhere else. >> I like the I like the term that Joe said about holding serve, not just because of the US Open, but it really makes a lot of sense because we're in this vacuum of no news. Uh, from a fundamental perspective, earnings clearly are the key. Uh, we don't know what the Fed's going to do, but we kind of know what the Fed's going to do. Fed's not going to cut. Uh, and we'll see what happens. You mean? >> Yeah. They're not going to >> They're definitely not going to cut. They're not going to Thank you. They're not They're not going to hike. >> You're wrong, but you're right. >> I'm wrong. Perfect. U, but you know what's really interesting? You take two steps back and you look at all the macro stuff thrown your way. You got higher oil prices. You got higher bond yields. Why are Why are small cap still doing so well? You would have never thought that. Well, I think it's because of fundamentals. Because of earnings. They were really the first earnings driver and the price to free cash flow driver that has really been the fundamental backing of these small caps and now the revival of the mag 7 and going into Apple tomorrow. It's set up perfectly to again outperform and so we're very positive on the market near-term. That's a a good point that you know Brian brings up what we were discussing last week quite heavily the resurgence of the Mag 7. Mhm. >> We'll show you the chart again over the last 6 months to make the point that Mike Sani was making on Friday morning, which set up our entire conversation jump off. The fact that the MAG7 had underperformed the S&P by a fairly good amount over June and July. And you can see the blue dip low, right? And the orange line is the S&P 500. That gap narrowing and then to the point where they're basically even. MAG7 doesn't have to outperform the S&P 500 to make this point. It's merely the fact it was a very uneven trade for a good period of time has corrected itself and these stocks have come back the biggest in the market. We'll get to Apple in a minute, but that's been a trend worth watching. >> Absolutely. And the valuations are frankly supportive. I think we've just gone through a consolidation phase in these names, Scott. you know, whether it's Alphabet, whether it's Nvidia in particular, which out of the seven is the one that I look to most for leadership. Now, I realize it's down today. It did start the morning up. It's within a hair's breath of an all-time high. I think it's very likely that it takes that out. And once it does, we're going to be talking about that. It's not going to look back and go down from an all-time high. It's likely to go further higher on around roughly 19 times forward earnings. We know what they said two weeks ago about revenue growth rate in the coming year 70% which by the way is supply constrained. So it could be higher if things uh on the supply chain become a little bit unstuck. Uh all this is not to say that the other stocks don't have something going for them. We've talked about Microsoft a lot. Very forgiving valuation and most importantly Joe maybe you'll back me up on this. The sentiment is coming back to Microsoft. This was a stock under $400 just a few months ago and people were looking at it actually tossing it into the heap of the SAS names and thinking that it might somehow become disenfranchised. I think that will be looked back as folly. The point being is each of these names has their own idiosyncratic reasons for going higher and the valuations give support. Before we go sort of heavy into the the MAG seven idea, if you on the general market idea that okay, you you have what feels like a new degree of risk introduced by rising oil, rising yields, rising Fed risk, at least as the market's concerned. And if you put all of that onto one side of a scale and then on the other side of the scale, all you have is earnings, but the weight of earnings is so substantial substantial >> that it at minimum balances out the risks that I put on the other side, if not outweighs them in terms of why the market would continue to go higher in the face of the risks that we put on the other side. >> Is that is that fair? Does it still exist? And if it does, then essentially what's on this side is all noise until it becomes something more. >> A accurately stated, that's exactly how I look upon all of it. The strength of earnings for me outweighs the rise in oil prices and the rise in yields. My perspective is I think for the Federal Reserve to respond with a 25 basis point rate hike will literally do nothing as it relates to inflation. And the only thing it'll do, it'll further freeze this residential housing recession that we're in. You're just going to damage housing more. Why would you do that? I think a lot of people look at the price of oil in somewhat of disbelief to see it where it is here in the mid '9s and think that by uh election day in November, you're going to be looking more at a seven handle on the price of oil. Um and and I kind of am one of those. So I I think you look at everything in totality right now and to your point until you tell me that there's earnings degragation. >> I think you still have to weigh the tailwind of earnings over everything else. >> That's why HSBC today goes to 8100 on earnings. They say it okay. Mike Wilson talks about earnings and the momentum that is still behind this market. Deutsche Bank sentiment has turned bullish again for the first time in seven weeks. That's how they are reporting things. UBS market outlook still bullish growth not fully priced in. What do you >> So I look I get that as far as when we're in the fourth quarter of the year, but I'm going to slightly take the other side of what you were just saying. >> What do you mean? What do you mean in the fourth quarter of the year? Isn't that where we are now? I mean, not in the fourth quarter, but >> everything that these people are talking about is the here and now. That earnings continue. >> So, in the here and now for the month of September, I'm not as convinced. And here's why. You know, you're talking about oil, Joe, but I think you agree, and I'm sure Brian probably will too, that it's not oil, it's diesel, which is at a record and shows no sign of abating. There's no inventories to fall back on. There's no China cutting demand in diesel. Diesel factors into everything. It's it's truck shipping. It's farms. it's crop prices, things like that. And so to the extent that we're hoping if the Fed does nothing this uh this meeting and that they won't I mean hopefully one week before the election, hopefully they won't, but that diesel price is going to factor its way through into inflation. And I think there we're going to be talking about inflation and the Fed for the rest of the month. And we don't have earnings, Scott, to your point, we don't have earnings to talk about this month. It won't really start until a month from now. So I think it leaves us in a sort of no man's land for the month of September with the trend to the downside as inflation figures continue to disappoint. >> Do have an air pocket of not much going on other than all these macro events which do have the ability to to push the market around though volumes are probably going to pick up. People are back now, right? Yep. People are back. typically and historically when you have a good August, you have have a better September and t and more more aptly if you have a more negative August that the absolute that the difference happens. We know historically that September is the worst month of the year. We know like I said in the very beginning we have no earnings news. However, I think the key is rates. The keys rates for sure and so if the Fed signals that they want to be more dovish uh and and says something different, yields are going to yields are going to rally. yields are going to go up and that's going to spook the market I think more than people are anticipating. That's kind of number one. But just listen to the talk you think about technology. Remember how many times on this network we sat here and talked about 30 to 35 time multiple on the S&P 500 is where everything peaked in 992000. You you have a Nvidia at 17 and a half times the largest the largest stock in the market. That's that tells a lot. We're not talking about valuation really. you picked up, but you're just you're nitpicking or cherrypicking on one name. >> I'm just saying S&P's multiple is higher than 17 times at a time when yields are rising. >> Look at the weight of that stock in the That's why you have the MAG 7 matching the performance of the S&P 500. Yeah, it's got a big weight in that, but what's also rallying are the earnings numbers of the other five 493 stocks. And I don't underestimate how strong the cash flow is in the in the earnings revisions and the rest of the four the rest of the 493 stocks including areas within let's say financials and communication services. I think you're going to have very strong revisions the last part of the year. >> I get it. But if if if yields remain elevated if not continuing to to back up, you do have to question the multiple of the market relative to that. >> Well, that's the risk over the next 3 to four weeks. I think that's the risk before before we start hearing about earnings the first week in October which will be crushed by the financials are going to kill it. Then the next 3 to four weeks we have a little bit of vacuum. So what's this double talk here? Here is the biggest thing we have. So >> why do you think they're going to kill it? By the way, the financials they they haven't they haven't traded very well lately, have they? Well, when we hear about the deal flow, more importantly, when we hear about how strong wealth management was in the third quarter, because in the second quarter, they didn't really talk about wealth management across the board relative to that they [snorts] usually do. It was really all about deal flow. We've had a decent commercial banking cycle and a very strong wealth management cycle in the third quarter. I think that's not being told in the financials. Going back to what I was going to say in terms of the next three to four weeks, there's a there's a healthy amount of skepticism still, Scott, nobody believes this rally. Yeah, we've got you talk about Deutsche Bank and all this kind of stuff, but you talk >> I think that's true. >> The skepticism. >> Yeah. >> Oh, I think it's true. When you talk to institutional clients, they're still not fully invested. They're still worried. They're worried about the election. They're overweing the midterms. They're overweing the the the bond market. And so, there's still a fair amount of money on the place on on the sidelines waiting to go. I think the conventional thought has become I mean as you see targets how many days on the show did we see targets just continuously go higher the whole reason we start having a conversation about well the market hasn't cared about higher oil it hasn't really cared that much about the Fed it's dealt with the idea that yields have backed up why because people are so bulled up on the earnings story >> I feel like a lot of people now are on the same side of the positive boat only as we entered September and they looked at the calendar and said, "Oh, I'm supposed to be bearish now." >> Yep. >> Yeah. The seasonality is the reason to be bearish. Um Brian, I I I disagree respectfully. I don't think the skepticism is out there. I think there's a lot of people, to Scott's point, that are incredibly bullish built upon the earnings. I think what's interesting is if you're going to be concerned about something, and look, for the month of September, um I I couldn't tell you up or down the next 50 handles for the S&P 500. I really don't know where we go this month. To your point, it's a very um it's a very clean window with a lack [music] of significant catalyst. You lose the blackout. You have the blackout period, so you lose the buybacks. But if you're going to be troubled by something, are you more troubled by oil rising or yields? I think it's actually yields. And that's why I think it's such a mistake for the Federal Reserve to raise interest rates and to position themselves overtly dish doubbish why yields rise because if if yields begin to rise, that's when you get the earnings degragation. And in addition to that, that's when you get the technology and the hyperscalers begin to pull back on issuing the debt. Now, you could say, okay, maybe that's a good thing. No, it's not because that affects the entire AI universe. There's a price sensitivity. there's a point at which you're not going to issue debt because the yield becomes unattractive to the buyer and those hyperscalers are going to step back. I think that's the biggest risk. >> Look, Yard Denny's talking about a Fed hike being in play still. So, I don't know. We'll see. We, like I said, we have 10 days uh away from all of that as the Wall Street Journal today says the stock market's breezy summer's over. Investors beware. Maybe that gives them the Fed a reason to beware. We're going to have to wait and see. Uh we got to wait and see until tomorrow for Apple. Well, I want to talk about that. Now, let's take a look at the stock because they have their big iPhone event. Uh, big for many reasons. You're going to get that new phone. It's going to be a pricey phone. It's going to be John Turnis' debut on the stage where sort of all the marbles are going to land in his bucket now, right? That's kind of where we are. How are you feeling about this stock? Forget the event. We'll see what happens. We know what's going to happen in terms of phone, but you know the stock is going to according to many be a sell the news on this event because that's what it has typically done according to those who typically watch this name. What do you think? >> I think it's it sounds obnoxious to embrace uh a product that's going to have a price point somewhere between call it 2100 and up to $3,000. this is going to be significantly more than other Apple products. But I actually think there's a possibility that this gets some traction. Tim Cook when he went to China in 2020, he observed what Samsung was doing. He observed what Huawei was doing. You had in 2019 the Galaxy foldable phone. He went back and said, "We have to have a fold a foldable phone." And that is ultimately what's going to be delivered. If they're able to execute on that and this product gets traction, then not only do you have a foldable iPhone, you have a foldable iPad at some point, which I would be interested in myself. So I I don't think you want to be very quick to dismiss this as not being a product that could gain some traction because if there is one thing that Apple has proven, they have a really strong ability to take existing technology and improve on it further, deliver it to the consumer and have the consumer. >> But look at what BTI is sort of making the September point of what I was suggesting. In the last 10 years, according to BTI's work, Apple's [clears throat] been negative in September seven times for an average return of minus 3.15%. It's the only month with a negative return. >> Yeah. >> And they say to perhaps sell the news after the seasonal iPhone launch. Remember, the event always happens in September. Stock traditionally doesn't trade that well. Now, it's not trading that great going in. It had a really great stretch until earnings. >> Until earnings. That's right. and it hasn't traded really well since then going into this marquee event. Maybe some of that has to do with the uncertainty around the Tim Cook leaving his CEO and John Turnis moving into the that office. >> I mean, it could be Scott, but you know, Tim Cook is still hanging around in the chairman's position. So, it's not like he's gone to Tahiti. I really think this is about earnings. I think that's what knocked the stock off of its pedestal. It was a pretty lofty pedestal in terms of the valuation. It was priced for perfection. I don't think there's anything they could have done last quarter to uh to match the expectations in the multiple and that's still the problem now. I don't think that gets solved until you get another earnings report. I mean there's nothing that's going to happen this week with the product launch that isn't already expected and thus in my opinion should be in the stock. The only thing that's unexpected and to look forward to is the next earnings report. Now, that will be going into the fourth quarter, going into the holiday season. In what has been a good year, notwithstanding inflation and the effect on the consumer, this has been a consumer that has consumed throughout the year, is well employed, as we saw last Friday, and is likely to have a good holiday season, including buying Apple phones at whatever the price is. >> I I disagree with with with all of it. Um, look, could the stock >> I mean the fact is the fact of September period 100% and the stock can go down, but when I say this product might get traction, you're not going to know in the month of September, this is something over the long term that's going to add incre incrementally another reason why you want to own this company. Well, let's see when they let's see when they tomorrow when they come out and they say the phone's going to be available as of X date and then you'll you know do you get the big lines outside of the Apple stores? We'll see. Look, it's got it's got the potential to go sell 10 7 10 million phones somewhere in there. And I also think the stock look after earnings it was disappointing. Remember where the stock was going into earnings? It was literally sitting at an all-time high >> then at a mid-30s multiple. >> Okay. But but since then it's had a very steady gradual recovery, a series of higher lows. It's doing what you want it to do. It really hasn't broken down. I still have it trading 315. The all-time high is what? 334. We're not that far away. >> Listen, it's a valid point. I mean, we were showing the two-month and the three-month chart there, and I will say you can really on those charts make of it what you want. It's almost a roar shack test. Yeah, look at it right there. I mean, yes, you are correct that it's trying to it's trying to rally there, but if you look at a two-month chart there, it's gone nowhere. Um, I just think it's too expensive. I think it's a great company. I think the product will sell. I just think it's too expensive. That's why I trimmed it at 330, and I'm in no rush to put it back in. >> So, it's reiterated or it's reiterated hold need. Laura Martin uh has been cautious on that name for a good while. Reiterated 380 is the target. Buy at BFA. Mafet Nathansson neutral. So, I mean, the street, you know, isn't fallen all over itself to express its bullishness uh around the stock. I guess they, you know, they want to see what happens with all of that. We want to see what happens too with Oracle, which is this week. Let's talk about that for a moment because the company does have earnings. We've had a really critical couple of weeks for software earnings. Well, it continues this week. Reiterated by Deutsche talks about that biggest question on investors minds. What in part seems to be weighing on shares are around funding requirements. We talked about that endlessly. How are you guys? Below, you with us? Are you What are you doing? [laughter] The index finger on the phone is like hard at work. You with us? >> I'm reading what's coming up next so I can be prepared. >> Dinner invitation. >> I want to make sure you're present. >> Okay. >> All right. >> Jimmy, you're first. No, you know what? Fell's first. Felli, you're first. >> You guys own Oracle. Oracle. >> No, we do. I remember own. Yeah. software company I think that got thrown out with the with the SAS it got thrown out maybe at the bathwater with respect to this funding I think that the company is already already bottomed it's starting to re uh get a little bit more traction becoming a little bit more convincing with respect to the recovery I think to me this stock is if you're looking for value in tech this stock's providing some some value in a tech space that obviously is is very very expensive so we still like it. It's one of our core names in a couple portfolios and we expect things to be a lot better in terms of the funding mechanism. >> As long as there are questions around the funding, there's going to be questions around the stock direction. >> Yes, I think so. And that's why >> when are the funding questions going to go away? Cuz I don't feel like they're going to leave anytime soon. Do you? >> No, I I think they will. I the more clarity I think there this is going to be an earnings report that they're going to provide more clarity in terms of their funding mechanism. They are. >> I would like to see them not raise their capex expenditures for this year. I think it's at 70 billion, but that's really what's kind of weighing on the stock. Yes, I agree. The SAS apocalypse, it was kind of caught up in that. But the real story here, I mean, the SAS business or the software business is their uh cash cow, and they're using that to fund the capex along with external financing. Don't raise that because they've been issuing a lot of debt. The 5-year credit default swaps are over 200 basis points. Don't want to see that going higher. But ultimately, what you look for in this report on Thursday is the topline growth there. Okay, let's just start there. Let's get the topline growth because this f this fiscal year ending in May, we're expecting 33% year-over-year topline growth. If they can hit that, then we can worry about the margins as these data centers are built. We know the Abalene, Texas one seems to be coming online. We should be getting a report on how that's doing in terms of margins, but overall topline growth. We can't disappoint there. >> Okay. Caner's calling a bottom by the way in AI infrastructure. Now maybe they're talking about the whole fervor around the data center push back uh which Wells today says is at a fever pitch. Did note that Eaton got upgraded. The stock hasn't traded all that well along with a lot of the other energy names. I want to hit a couple more things before we take a break. What's the Qualcomm uh takeaway from this deal uh with Amazon? Speaking of data centers. >> Okay, so more uh progress in the internet of things for Qualcomm which deemphasizes the smartphone business. It's good. That's great news. And I'm tempted to buy today, but because September is, as I've already said, a heavy month, I'm not going to do it today. I also have to note that over the last year, there have been several data center announcements for Qualcomm, and it hasn't really gained traction in the share price. So, I'm going to wait, but believe me, I was tempted to add today. I trimmed this, Scott. You may remember this. Uh, during the Parabola season, I trimmed it in half. I think that was around 230. I'm not going to look right now. uh to make up for the taxes that our taxable investors would have to pay. I need a price below 196. So at 176, yes, I'm tempted, but it's a heavy month. And that's my thesis. You're you're not doom scrolling anymore. You're you're good with this? >> Listen, I Qualcom Qualcomm I think this is a structural change for Qualcomm. This is a very good signal that they're getting in business with AWS. And I think g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g given what happened historically with their Apple position, I think this sets Qualcomm in a very very good stance in a space that they've been kind of behind on. >> Yeah, I mean I would agree they need to diversify away from the smartphones and that's exactly what they're doing. And to Jimmy's point, they already have an existing relationship with Meta. The price action today, I'm a little bit surprised. It's up right now four uh four 5% let's call it. I would have thought it would have rallied even more given the way it's traded, how poorly it has traded since the end of May. This is not a unique deal. You're seeing uh a lot of the hyperscalers like Amazon going out trying to get relationships to secure these customer. >> Well, if it's not a unique deal, then why would the stock rally more than 5%, which seems pretty nice to me? That is one heck of a base warming. I mean, I'm not even the greatest technician at all on this desk, but that is one heck of a base warming. So, I do need to add to this also a very cheap stock. And as I said, this is about the third announcement this year of data center business. By the way, what if Apple does do well in the fourth quarter? What if those sales pick up? I mean, I know Qualcomm is shrinking its business, not voluntarily with Apple, but still that's going to enure it to Qualcomm's benefit. Uh, we don't want to emphasize the smartphone business. There's a lot going well for Qualcomm. I will add to it, just not in September. >> All right, we're going to take a break. All right, welcome back. Big news today on a couple of fronts in the healthc care space. Anakah Kim Constantino is following the action in Novartis and Astroenica joins us with more on what's happening here and why the stocks are moving the way they are. Hi. >> Hey Scott. Let's start out with Novartis which shares pacing for one of its worst days on record after the company had yet another trial setback. Today, Novarta said its drug for a muscle wasting disorder failed to meet the main goal in a late stage study. And that treatment was the centerpiece of the company's roughly 12 billion acquisition of Avidity Biosciences last year. The other key trial setback we saw came on Friday when Novarta said its cholesterol-lowering drug failed to meet the main goal in a phase three trial because it did not significantly improve cardiovascular outcomes. And these two studies were seen as high stakes readouts for Novartis. So the results are putting more pressure on the company's efforts to navigate upcoming patent expirations of blockbuster drugs. Now let's turn to Astroenica which posted full phase 3 data on its drug for a progressive lung disease called COPD. The biologic treatment showed benefits across a broad population of current and former smokers, including a group that currently isn't eligible for existing biologics for COPD. And Astroenica CEO told me this morning that's why the company sees the drug raking in more than 5 billion in peak annual sales. Scott. >> Okay, good stuff, Anakah. Thank you. Anakah Kim Constantino. So, Amgen Gent uh is lower on the Novartis news. It makes a rival treatment to the one that failed. So that's a move in sympathy that you see right there down near 10%. What do you what do you do with this? >> Well, the maritide's in stage three. So they they really think that there it's going to be a competing drug. That's number one. You got to remember why people were buying Namjen about 18 months or two years ago anyway because there was so much market caps got that left fizer, Merc J&J the traditional kind of the vaccines and they went into biotech. So where did they go? Went to Amjen, Gilead and Abby. And so Gilead with their with their with their new drugs and with their pipeline with their balance sheet very strong, but Amjen has become this juggernaut in terms of cash. So it's not surprising that they're being stepped on here a little bit with respect to this GLP stuff. But I think Amjen from a longerterm perspective has the pipeline, has the balance sheet, and has the continued wherewithal to do very well in that biotech/farma space. >> Yeah, I I would I would agree with that. downgraded by the way guys uh to hold from buy 450 >> your old firm Bimo >> it's a great call by Bimo we love the Bimo >> probably goes into a little bit of a consolidation phase but I don't think you want to move away from what healthcare could provide to you in your portfolio you've seen a little bit of a revival here in the third quarter we own 15 names in the Jot ETF in healthcare the common denominator is you have to have the revenue growth you're a healthcare company in this type of market, you have to deliver on the revenue growth. There's only three of the names that we own that don't have double-digit revenue growth. So, Amgen's right there at around 10%. I kind of take the other side of it. The the industry that's interesting in healthcare that over the last several years we always talked about on this show is medical devices and they are trading awful. They don't have the revenue growth. It's your striker. It's your Baxter. It's intuitive surgical. They're not giving you that revenue growth. So, I urge everyone you're going to make a move into healthcare. I want you to be there because of what the characteristics are, what it could offer in a portfolio, but make sure you have the growth. >> BFA likes ABV reiterated by target to 282. It's up a little bit uh from where they were uh 276. You're essentially there 30 bucks away. Again, 282 on Abby at BFA, which Jimmy you own. >> And I I've held it for a long time. I really like Abby mid- teens multiple about a 3% dividend yield. Uh diversified product line. And remember this was a stock that had a very single product. It has uh it has migrated away from that with Skyrizzy and and Renvoke. There are always competitive threats out here. But AVY does a good job. It doesn't bat a thousand. Nobody bats a thousand. But they do a good job of in-house product development and acquisitions to make sure that they have a diverse pipeline, not a single product, single point of failure in their portfolio company. Goldman Bellski likes Merc and J&J among a basket of names that they say are best positioned into year end. They're [snorts] cautious on Fizer, which is part of your ownership as well, but J&J and Merc make their list of best positioned. >> J&J's done an amazing job post um post the whole vaccine issue in terms of really thinking about diversifying out their product line. Of of those big three, change a by far is our favorite. Of course, we like Merc because it's been up so much, but Merc has had the biggest turnaround because of their pipeline because their pipeline and the drugs. Fizer is just a bottomed out kind of turnaround value play. But in terms of where the fundamental growth is, it's J&J and Merc. So I mentioned top of the program the global energy ETF that's the all-time high. The XOP highest since June of 2015. 52- week highs. Konico Phillips, Valero Marathon. Talking about you've been talking a lot about the refiners of late. Exon Mobile outperformed today 182 at Bernstein. Take it where you want. >> I could see that there would be some hedging against oil prices at 939 $94. So I have no problem with that. I think you stay with the refiners and collectively just the the the theme of commodities is a very strong one right now. Copper prices moving towards highs, agriculture, which we talked about last week. It's all of it. The commodity trade is probably arguably the strongest trade in the market. Gold's come back a little bit as well. Exxon is just a juggernaut in terms of what they're doing businesses overall, not only on how they pay out their dividends, but how they're diversifying out their business lines. But the refiners are a great business. >> Why no refiners for you? >> Uh because I've got it in Exxon Mobile. Exon Mobile is the world's third largest refiner, but it's tucked into an integrated oil company. I think to expand on what uh Brian and Joe just said that, you know, even if oil prices do come down, they're probably not likely to come below $70 and there's a lot of money to be made all along the product pipeline uh above $70. >> All right, we'll have finals when we come back 3:00 as well. What's your final trade? >> Pinnacle Financial Partners, Bank of the Southeast. >> Okay, >> Chener is down on a technical factor. Here's your opportunity. I like Freeport Macaran to move into the 80s. >> All righty, I'll see you at 3:00. Hey everybody. Hope you all had a great long weekend. It's Tuesday, September 8th. It's 1:47 p.m. Eastern time. We just saw multiple clips from CNBC today. What we're going to do in this video in the in this segment is cover a a good number of the stocks and ETFs that they discussed. Okay, I'm going to show you guys the technicals. Let me just show you briefly what we'll be covering. We'll be covering the S&P 500, the SPY Q's, the EFA. You can see the different ETFs gold silver Bitcoin Ethereum oil. We'll take a look at and we're using the Ichimoku indicator about 25 stocks and ETFs. Not all of the ones that were discussed. Some of them are in that portfolio. And then we'll also cover three member requests as you can see here. Ticker symbol BW, EDR Y, and A M A T applied materials. So, let's um first before we get started here, uh and and one more thing I want to mention is uh if you haven't already become uh a member yet, you may want to consider becoming a member so you can get access to the member only videos that I do every weekend. This last weekend, I posted another one here on September 4th for the weekend. I'm sorry, on Saturday or Sunday is when I posted it uh for September 4th, the whole week. And then basically, I go over that my entire portfolio. I share new stock ideas, usually over 20 stock ideas and around 10 ETFs each week. So, um yeah, definitely consider that and don't forget to hit the subscribe button. It's free to subscribe. All right, and it's just click that join button if you want to get the access to the member only videos. Select the mid tier. All right, blue cloud trader level so you can get access to those videos. If you want daily updates, select blue cloud legend on the trades that I place. All right, guys. Now, let's get back into this. So, uh, we're going to look at the indices, and here they are today. Right now, as you can see, they're still declining. Market has not closed yet. And, yeah, you can see it's 1:49 p.m. Eastern as I'm recording this live here. Down.36%, the S&P 500, NASDAQ is down.13. The Dow is down 1% and the Russell is down just 04. It looks like it around 10 a.m. it start to at least start to stabilize and prices have been moving up. for both the S&P 500, NASDAQ, Dow, and the Russell. Okay, so that's good. Uh, let's take a look at the heat map so we can get a better picture of the individual stocks within the S&P 500 and how they're performing. See, Nvidia, for example, is down 1.89. Apple's down, Amazon is down, Google's up slightly.17. A lot of the computer hardware stocks like Dell, ticker symbol A&E, LRCX, Applied Materials, they're all up. SanDisk, Tesla was up 3.55%. The energy stocks are doing really well, of course. Utilities and real estate looking pretty good here. And then the industrials, there's a few uh ticker symbols you may want to take a look at. GEV and ETN. All right. And then if we look here at the groups segment, we can see that the uh at least for today, the sector that's outperforming is utilities. It's up 1.17% followed by energy, industrials, technology, basic materials. Healthcare, financials, and consumer defensives are in the bottom. If we look at the longer term perspective, the one weak performance, utilities is still up 2.96%. Followed by technology, energy, industrials, and then consumer cyclical, healthcare, consumer defensives are the least. Um, they haven't performed as well. And there's the one month performance if you want to check that out. Let's take a look at the We'll start off with the SPY ETF, the S&P 500. Let's make this chart a little bigger. You can see the percentage. You can see here it's down.34% right now. Um what's my anal what's my perspective on the spy? It's still very bullish here on the weekly chart. We're still holding up nicely above that 76040. We're at 76759 as you can see here. So, it's still moving. Um it's on the daily chart. We did pull back a little bit today. Down.34%. Nothing major happening here today. So, I wouldn't be overly concerned. It's a very low volume day. Remember, it's a long weekend. So, a lot of people are not They took probably took an extra day off. Uh traders took an extra day off so they could uh enjoy a longer um vacation. Let's take a look at the uh so soy still still pretty steady overall. I like it. And I gave it a blue flag. What that means is that price is still holding up above the nine period. the green line, the red line is the 26 period. Price is still above the Ichimoku cloud. So all that is bullish. And then what we are also looking at is this Chica span here, the white line. What that represents is the current price. Okay? So where we are right now, that's the current price right there, 7671. It's still changing, but it's projected 26 periods into the past. And when that white line is above the candle 26 periods ago, that's very bullish. So everything looks good here on both the daily and weekly. Same thing with the Q's. The QQQ ETFs looks good and steady. Still moving sideways though. Nothing again. Uh we just haven't seen a lot of momentum. Uh the ADX which represents the momentum in the markets is has been moving sideways and so is basically that's essentially what price is doing. Yeah. So Q's were up.16%. Uh the EFA uh ETF is also down 0.24% but holding up above the moving averages on both time frames. There's a daily, there's the weekly chart. Now things change here with the rest of these because there's something technically off. And so I put the strongest ones at the top with a blue flag. I'll tell you why. The Dow right now is not looking as good. As you can see on the weekly chart, we're currently under the 9th period. Of course, throughout the week, it might recover and get back above that nine, but currently it's under. And if we look at a closer closer at the daily chart, you can see we also have a crossover here. That's when the faster moving average, the green line, crosses under the red line. That's not a good sign necessarily. I will say this, it is holding up above these lows here. Okay? Do you see that? So, as long as it holds up there, I think you it's got potential to bounce again and it's still above the cloud, but right now I wouldn't be adding positions. That's what that basically means for me. Uh the Russell 2000 is kind of doing something similar. We've had a crossover here for multiple days in the Russell actually. and it was down just 02% but it's it entered [clears throat] the cloud which was bearish but re got back above and so we'll see if it can um get back above these higher highs as well. Now we've got some new highs here. The high of 30518 is what I would be looking to see if price can get above. So, let me go ahead and change this real quick. Is is a new high 30518 and we'll see how price reacts to that level. And that's a daily level right there now. So, let me go ahead and throw that and change this to red. So, I like to color my trend lines based on the time frame that I'm using. There's a daily chart. So, since I'm using that, I've got it at a light red color. If it was a weekly chart that I was looking at, I would have it light blue. All right. And you know what else I'm noticing here is the cloud itself has turned bull bearish on the Russell 2000. That's when the Senku span A, the light color blue line crosses under the Senu span B, which is the purple line. So, it's just moving. They're both moving sideways here. Nothing major. Um, VIX Pike kind of spiked a little bit. It gapped up actually got back above the 9 period uh was up 5.23. This represents volatility and fear in the markets. So I mean it's still technically in a very safe level of 15.29. Uh you start really want to start worrying when things get over 20. The volatility starts to you know continue to move up as it did you know back here in uh 2026. remember February, March when it reached around 35 and then back in 2025 when it reached around 61. That's that was pretty bad for the markets at that time. FEZ the Euro stocks uh 50. Okay, finding some support at the 7052 level. It's based on this candle. You can see that. Let me just go ahead circle it right here. So, it had pulled back, found support right there at the 26 period, and you can see here it's moving back up again, but the faster moving average is still under the slower one. I would hold off on adding positions at this point at this particular time. Let's take a look at gold GLD. Still dropping a little bit here, down 1.08, but it's above the cloud. That's generally more bullish obviously than bearish, right? You can see here what happens when price gets under the cloud. it tends to stay there and tends to embed itself a little while. Now, we had this falling wedge pattern and that was broken. Okay, back here. So, back on August 5th, that falling wedge pattern was broken. So, that's a really good sign. Now, what's happening is price has moved up, pulled back slightly, and my my um I you know, my intuition is telling me that we're going to see a bounce here for another leg up. I think this is just a short-lived little pullback here. Let's take a look at silver. You know, silver had double or triple bottom pattern down here almost like a you can see it found support there, here, and here around this level and then broke through this rectangle box and it's still moving up. So, that's good for silver, but it's still not perfect yet because we're still inside the Ichimoku cloud on the daily. You look at the weekly chart, we're still under the cloud. So, we don't have both time frames confirming the move yet. All right. So, let's take a look at Bitcoin. Bitcoin dropped 1.71%. And uh it's still hovering under that 4668 level based on these prior highs. Told you guys that that would probably be a level that it needs to, you know, surpass first before we can see more bullishness with Bitcoin because right now it's basically moving sideways once again. Here, that's a weekly chart. Here's a daily chart. All right. It does look more bullish here on the daily since it broke through the cloud and it got above the 200, but that 200 is still declining and it takes a little time for that to start to raise back up and it's going we're going to need some more days and more positive um trading and the news for Bitcoin wasn't positive as you know from the videos that we just saw. ETH Ethereum on the other hand is actually looking more bullish than Bitcoin up 1.37%. It's actually holding up nicely inside this base box. You know, it's like a box that's uh most likely going to break to the upside here. Uh on the weekly chart though, we're still under the cloud. But, you know, we did take out this prior high of 2342. So, it looks more bullish. If I was going to choose one of the currents, these cryptos, I'd go with ETH at this particular time. If I was, but I'm not adding positions here right now. Oil K, the K1 free crude oil strategy ETF up 1.16%. Here's a weekly chart. You can see here uh since the lows back here on August 7th, it's moved up 14.39%. On on the daily chart, we can see that it prices above the cloud. So, we're in the beginning stages of this also looking pretty good because we've got a series of higher lows as you can see here. And uh let's let's see where we're at with this um candle. I want to see the resistance level. I want to draw it right there. Boom. Like that. Okay. So, here's the high uh 5582. That's a daily chart. Let's circle it. This is the candle we're referring to here. If you look closely, you'll see that wick right there. So, it's still hovering right under that level. It needs to break through that in my opinion. And then you'll have a p a really cool pattern called the ascending triangle pattern that has formed essentially. So you see that right there. Okay, that's called an ascending triangle. Let me show you guys that on our cheat sheet. Let's go to the X page. This is my X page. Uh you can find me under at BlueCloud Trader. Don't forget to follow me. And so we get the these cheat sheets here that you can download for free. candle pattern reference sheet. That's a good one. So, you can recognize all the different candlestick patterns. And then if you hit the right button there, you'll see that here we have the patterns. Okay? And there at the top is the ascending triangle pattern. Let me just uh highlight it for you. This box right here. Okay. So, you can see that price was getting finding resistance there for a while and then what happened? Uh it basically start to develop a series of lower I'm sorry, higher lows. Once price breaks, that's very bullish, especially if it pulls back, retests that same level, and bounces off of it. Now, we're not there yet, but uh you know, that's what we're looking for with Oil K. All right, so we just went through these ETFs. Let's take a look at the stocks that they uh a number of the stocks that they talked about. And I've got the four just four out of 25 that are highlighted here at the top that look really good. This is kind of going to be kind of like a speed round similar to what Jim Kramer does, but I'm instead of not telling you why it's a buy or signal, I'm I'm explaining it to you. So, I'm not going to spend too much time on each one, but I'll just show you the technicals and explain why it makes sense or not to consider these some of these stocks like EWC Canada index fund ETF is looking pretty bullish here. You can see prices above the moving averages. They're on the correct order, right? Again, bullish cloud. Price above the green line, the red line. They're both in the correct order. Green line is above the red line. The white line is above price. That's basically it. We're also above this rising 200 day. So, Canada looks good on the daily. Looks good on the weekly chart as well. All right. Since it broke the cloud back here, back on April 17th of 2025, it's moved up 52.72%. So, Canada hasn't really been impacted significantly. even with the these 50% tariffs, we're not seeing it at least uh in this particular ETF yet, but we'll see if how how long it can hold up here. FCX Freeport Mac, the copper stock started to pop again. In fact, it came up on my scanner um the proprietary scanner that I share with Legend level members every day in my post. And so, yeah, a lot of the copper stocks are looking really bullish here. You can see it broke through this 7228 level, this prior high here. This is a perfect example of what we just talked about, the ascending triangle pattern. There's the flat level, right, where price was finding resistance. You see that higher low here that creates the ascending triangle. All right, we broke through it. What happened? It came down, retested that same level. Isn't that interesting that we did that and now it gapped up 5.58%. It's higher probability to go up at this point. Is another one that I like. This is the uh global energy sector index fund ETF. Now we are on this weekly chart. I'm just going to throw this weekly level to keep an eye on because the high there is 5918. Let's color it light blue to represent the weekly. There we are. Now we are just under it. 5913. So if we can get a close on Friday on this weekly chart above 5918, I think then that gives us a little more confirmation. It can set your mind a little bit more at ease that hey, this is a real move. It's going to clear away. It's going to break through that resistance level and uh yeah, it's more than more than likely to to happen. Here's a daily chart. You can see how price is finding resistance at that level. Very interesting, right? XLK is another one that I like. Let's start off with the weekly chart first. You can see here the cloud is bullish. We've got price above the moving averages. Everything looks good. On the daily chart, same thing. And the momentum is starting to increase. Do you see how that white line is starting to move up? ADX9, that represents more m higher momentum. And when the green line is above the red line, that's a bullish situation. So, I think we're going to see that also moving up. All right, let's look at some of these other stocks. Now, the rest of these, there's something off technically. So, I wouldn't be adding positions in any of these personally. Um, to each their own. You guys do it as you please. You know, maybe you're some of you are just trading it things based on the daily charts or maybe show shorter time frames and you can do that with Ichimoku. You can certainly do that. But if I switch Apple, you you can see on a two-hour chart, it's not looking that great here today. Uh, but yeah, looking at the weekly, we're under the 9 period. So, this is just something I would skip. So, start off with that weekly chart. Astroenica still under the cloud. No on that one. Okay. Down 1.43%. Cityroup is uh holding up nicely on the weekly chart. Nothing negative to say here on the weekly forgroup. So let now we we pass that. Let's go to the daily and take a look at how that's looking. Daily chart looks okay. Price is above the cloud. There's there's just a few technical things that haven't happened happened yet. Uh let me get rid of this blue line. It's an old one. That's an oldie. Oldie but a goodie. Uh, a couple of positive things I'm seeing here. So, we did break. Do you see this high and that high? And if we draw a Well, if we drew a trend line, actually, it's still under that right under that trend line. Do you see that? It's It's literally right under because we you have to look at that highs there and the high there. And so, it needs to clear that in my opinion. Needs to clear that trend line. Uh the cloud is still bearish. So hold off on Cityroup until that occurs. Wait for that breakdown. ETN eaten Corporation. We've got a bullish cloud here, but the faster moving average is under this lower one. Something else I would hold off on. And if you look at the weekly chart, that looks great. There's nothing negative on the weekly. I like ETN. I just don't like it on the daily. Google. Uh if we look at the weekly chart, it's under the moving averages right now. Okay. on the daily chart, it's under the cloud. So, no on Google. As much as I like the company right now, it's not the ideal time. In fact, it hasn't been the ideal time. Um, you know, since uh May 11th of 2026, it's actually dropped 15.6%. Right? It's hovering right at that 200. So, maybe we'll get a bounce here on that 200, but until I see it, I won't believe it. I got to see it with my own eyes. And the ADX is still moving sideways. So, I'd hold off on Google right now. Johnson Johnson looks better on the daily. I like this one. It's got a series of higher highs, higher lows. But what about the weekly? Very bullish. What's wrong with it? Let's see. Oh, price today is currently under the nine period. But we got a nice bullish candle. Even though it's red, that's a bullish candle. Long wick. That's a hammer candle after a pullback. They call that a hammer. I'll show you guys that on the cheat sheet. Let's go back here. Let's uh go to the bullish single candle patterns. There's the hammer. There's a pullback. That's the candle that formed. Tomorrow you wait to see if it can get above the high of that candle. And uh maybe it will, maybe it won't, but uh that's what I would be looking for. So otherwise, I like Johnson Johnson. JP Morgan is currently under both moving averages on the daily. On the weekly, it looks good. All right. So again, it's something that needs to clear way here on the daily, get back in and uh above those moving averages first. Merc is currently also for a couple of days now under the 9 period on the daily. On the weekly chart, it looks very bullish though. All right, so the long-term trend is very good. It's just the short term that it's pulled back slightly. Morgan Stanley is currently uh above the cloud, but the future cloud is bearish. Single span A is under single span B. The red line here is above green line. So again, this is not something I would be getting into currently. You look at the weekly chart, it's uh right hovering right at that time period. We want to see a little more bullishness. It's been moving sideways for too long now for we're talking about since June. All right, we're talking about since around June 18th, maybe even go back to June 12th. All right, let's keep going. We got Microsoft. Microsoft looks good except for the fact that we have a bearish cloud. So price broke through the cloud. That's a good sign. We got a double bottom. That's also a bullish pattern. If after price drops, okay, you get this move up, comes back to that same level, and then bounces. That's nice. Especially when it breaks through that level. Problem is, if we look at the weekly, what does that look like? It's relatively bullish except for the faster moving average being the slower one. All right. So, it's just not the time in my opinion to get in. MTUM looks good on the on the monthly. On the weekly chart, it's above the 9 period. On the daily chart, it's inside the cloud. So, no on that one. NVS had a big gap down. Do you Let me show you where the c the candle is. It went from this level down to this level after hours. And so that was a 13.89% drop very negative. Okay. And uh you know you click on the news here we can go news by symbol and we can find out you know top midday decline. I can click on this here and uh let's see Novartis said it's phase three harbor study evaluating um del passacart at eadesieran in patients with myotonic distrophe type one failed to meet its primary endpoint of video hand opening time shares slumped 14% as intraday trading volume catapulted to over 6.8 8 million from a daily average of just 1.9 million shares. Amgen's experimental. Okay, this is another company. Okay, so yeah, I mean look at that volume down here. You see that big drop? So, who's to say where this is going to drop at this point? But I certainly wouldn't be adding positions just because price dropped to this level. We need to see price recover. And on the weekly chart, it re-enter the cloud. As you can see, it's it was looking pretty bullish until that happened. Oracle is under the cloud. So, no on Oracle on the weekly. Fizer is above on the weekly, but under that 200 under this 2875 level. On the daily chart, it dropped down 1.69%. So, that's why we wait for the weekly to also clear prior levels of resistance. Uh you'll have a higher success ratio when it does that. PNFP was one of the stocks that they had at the I think it was one of the final trades and that's called Pinnacle Financial Partners. On the weekly chart, we get a bullish cloud. Price is above the cloud, but the nine period is price is under the nine period on the weekly and on the daily the 9 period is under the 26 period. So no on that one right now. We also have a bearish cloud right now. And the Chico span is under price. Remember what I said earlier about we want to see that white line above the candles not under. So remember uh just so you understand how this cloud is calculated what it does essentially is it takes you know the nine this nine period takes the high and the low of each candle. So we'll take the high of that candle the low of that candle divide it by two. So it's the midpoint of the last nine periods and that's how it calculates it. And then the the red line is the midpoint of the last 26 periods. And then how does the cloud get plotted here? It's interesting. It takes the midpoint of these two moving averages, projects 26 periods, and that's where the synchro span A would be found. And then the sync span B is the purple line. That's taken that's plotted by taking the midpoint of each of the last 52 candles and plot instead of plotting it below or above the c the current candle it projected 26 periods into the future and as I said this white line is the current price projected 26 periods into the past you get the past you get the future get the present what's going on currently it's a really um interesting comprehensive indicator created in Japan, literally incepted in the late 1930s, okay? Published in the late 1960s and adopted by many financial institutions today here in the United States and all over the world. So, Google if you want to learn a little bit about ichiu. Ichimoku. Nobody loves Ichimoku more than I do. Okay. So true. [snorts] So, uh, we got Cuccom. Let's take a look at Cuccom. It's inside the cloud right now. That's a good sign. But it did drop, too. So, it's up 3.13%. But, uh, spent the rest of the day dropping. Let me show you what it's looking what it's looking like right now on the 3minut chart. As you can see here, it's 2:13 p.m. or the seconds. All right. UCOM. You by the way, you can use this indicator on any time frame, too. The platform that I'm using here is called TC2000. There will be a link if you want to try the software out. There's an affiliate link. You can try it out for a month for free with that affiliate link and I'll put it in the description se section. All right. Also, look under my links on my channel, YouTube channel. So, QCOM uh yeah, it gapped up and here you can see 10 a.m. 11:00 a.m. 12. It's just been dropping. So, I wouldn't be adding here based on that type of candle. But we did have a gap up. Uh SYK is dropping still down 7.56%. us in the healthcare sector, medical devices. All right. And uh their next earnings are on October 29th. TFC is inside the cloud on the daily. No on that one. WFC is above the cloud and above the moving averages, but on the weekly chart, the cloud is bearish. It's pretty good overall except for that. Okay. XLF on the weekly looks fine. no problems except for the fact it's moving sideways on the daily chart. It's dropped under the moving averages briefly. So, we'll see if it can recover. I mean, that happens very often. Okay. Happened here, happened here, and then it recovered. Will it happen again? I think so. Most likely. The financials looking are still looking pretty strong overall. XOM and the oil and gas integrated industry. Exxon Mobile broke through this trend line has been moving up a series of higher highs, higher lows except for this last high. You can see that that now has created a lower high from the prior one, but we still have a so what we've got is a triangle pattern here. Okay? And so we need to wait in my opinion to see if it can break through. So that's what I'd be watching. All right, let's take a look at the members request. We'll look at BWE. This is Breakwave Tanker Shipping ETF. Daily chart looks great. Up 7.51%. That's what you want to see. It's not a very uh high volume stock. It's 94,000 shares traded, but it's a very steady chart. I like the way that it's moving on the daily and I like the way it's moving on the weekly. I mean, it's going straight up. Since it broke through this cloud right here back on October 10th of 2025, it's moved up 3,244.11%. So, this is a great one. All right. It's a great one. And then we've got EDRY, which is Euro Dry Limited. Another shipping imports indust industrial sector stock that's been moving up nicely here for multiple weeks in a nice straight line up. But it I you know these these are the types of uh charts that scare me a little bit when I start seeing it going like almost like parabolic. You know you can see the chica span there just showing the closing prices week after week going straight up. Here's a daily chart. So um still in a strong uptrend and so it's hard to to determine when that's going to end. Actually it's not that hard. When price breaks down we'll see it on the charts. And so that's the idea of using technical analysis so we can get a an idea of exactly when things are starting to where the sellers start to to come in right and take over and they start pressuring the the price down you know selling and there's a lot of profit taking that starts to take place at some point the big money starts coming out and you see it and how how can you recognize it well this I like that using the directional movement index as well what you'll a lot of times see is the ADX where it's been moving up and Now, so you can see it's kind of slowing down a little bit, right? Do you see this trajectory? Imagine it was a rocket. And what will happen is sometimes you'll get a sharp pullback like that on the ADX because that's the momentum is coming out. All right? So, here's an example back here. See, it's going up and if you notice it dropped, started dropping right there. If you go straight up, what happened? Price dropped. Right? Um, let me see another example. Here's another example. Price was moving up. You can see that sharp decline right there. So, we're moving up. See that sharp decline right there? It goes straight up. And do you see what happened to price right after for multiple days, right? It dropped. And from that point, I mean, if I measured, it looked like a, you know, um, from the highs to there, let's see, 16%. So that's one of the ways you can monitor what's going on with your stocks. Use these, use technical analysis. It's just another tool. All right. Another tool to utilize in addition to using the fundamentals like profit margins and sales growth rates and looking at the price of sales ratios. This has got a really positive one. It's under one. Price of sales is under one. That's very bullish. Next earnings don't come out until November 12th, right? How about this one? Applied materials. Now, this has been moving. Uh, and I did analyze this recently as well. Uh, has been pulling back. And I mentioned how this level, this 43633 level, see here, I created that back on September 3rd when that little box pops up. I said, watch that level. That's probably like a little bit of a line in the sand. At least for the short term on the weekly chart, you want to see this kind of holding up. It's based on the low of this hammer candle. So price didn't really start moving up here. Did not break back above. It just moved sideways. It came down and now it's retesting here. Notice the the wick. It pierced it briefly and then stayed above it. And today it's up three and a half%. Okay, this is a weekly chart by the way. Let me show you the daily. So you can see right there how price has been finding support at that level and that's that's very bullish. But would I be recommending the stock to buy it here? The answer is no. Why? Because price is still under the Ichimoku cloud. And that's one of the nos of Ichimoku. You don't want to be adding positions when price is under the cloud. Again, that's if you're trading the daily chart. Maybe you like to get in early on something. Okay, in that case, what I would suggest to you is you trade a 30inut chart like this one. Okay, so you can see this long decline here where price was stuck under the cloud for a significantly long period of time. You want to get into the earliest stage, use a shorter time frame like a 30 minute. All right, but just recognize that you're going to be married to that 30 minute chart. You got to observe that closely and monitor it, okay? Watch it like a hawk because when that starts to drop, you won't have those higher time frames defending you at that point. All right? So, that's why I like to use the weekly and the daily for my decision-m on some of my charts. I do use the 30 minute. Depends on the type of, you know, instrument that I'm trading. I've traded three minute charts and two minute. Okay? So, you can do it on any time frame you choose, but just understand like, yeah, you're going to have the wind on your back when the weekly and the daily are on your side. That's all. But right now, things are looking relatively bullish, at least this week so far as we enter the week. So, that's all I got to say about that. Again, guys, if you like what you're seeing here, take a moment. All right. And hit that like button and the subscribe button and the notification bell. All right. So that when I post another video in the future, you can find it up here under notifications. It's free to do that. Click on this segment here. 10 more links right above. Find out about my channel. Scroll down. Whole bunch of links here. There's my Twitter page. There's the $25 coupon for TC2000 link right there. There is the link for becoming a member so you can watch those exclusive member onlyly videos. Maybe you're a property manager or a landlord. Check out this link. This is great. I use this. All right. I'm a landlord. I use this particular property management. It's free to use, which is awesome. Uh what else? Yeah, just some of the other stuff that you might want to check out. And um yeah, we we've uh we've reached over 33,000 subscribers last week about folks. Thank you. I appreciate all of you. Wow. Over four million views so far. That's awesome. For a technical analysis channel, that's pretty high. I will say that. Okay. Nobody does it. All right. Like Blue Glad Trading, we love it. All right, guys. Have a good one. I'll catch you all in the next video. >> [music] >> The Ichimoku guiding light. Blue cloud traing [music] through the night. [singing] >> [music] [music]