STOCKS SELL OFF: CNBC Half Time Report + Chart Breakdown 10/30

Blue cloud trading through the night. >> Welcome back to the channel everyone. In just a second, I'm going to play a few CNBC clips. I'm going to pull up the charts and dive into the technicals and see if the price action actually backs up what the talking heads are saying. Subscribe if you haven't already and let's roll the tape on the first clip. >> Carl, thank you. Welcome to the halftime report. I'm Scott Wapner. Front and center this hour, the latest on today's tech wreck. Amazon, Intel, obviously the earnings are weighing on the space. Many other names are being dragged down as well. We're trading all that with the committee today. Joining me for the hour, Steve Weiss, Jason Snipe, Jim Leventhal, Bren Talkington. Check the markets. Uh you'll see obviously tech the biggest loser today. Down 2 and a half% is the NASDAQ. Dragged by many, many names. It's red across the board. We can start with Amazon because you know by now uh what's happening with the stock, though it's important to note that it's well off the lows. The headlines I think you're familiar with too. Ad revenue missed. AWS fastest growth in five years. It still fell short of the whisper number. And that's kind of what this market's all about. Expectations are extraordinarily high. If you fall short, your stock gets punished. They're not the first to realize that. There have been many great earnings reports of this season. Not so much great price action. I think that's a headline free cash flow negative. You know what you're spending to achieve the growth you want. That remains the uh the overriding story, too. Jim, your your read on what's happening with Amazon, then we can talk about the fallout elsewhere in this market. >> Well, I looked at Alphabet, as you know, Scott, yesterday, and I looked at uh the news and the price action and I said I want to trim it a little bit because I thought it would be in the penalty box and it will be for the foreseeable future. I don't feel the same way about Amazon. Um, I understand the, you know, concerns about the ad revenue, but you I look at what's going on with Amazon Web Services, Andrew Jasse saying that's going to be a $1 trillion company, and I say to myself, I don't need to flinch at every little shot the market takes at me. So, I did yesterday, that's fine. I'll find uh places to put that money to work. But the valuation on Amazon, by the way, you can say the same thing about Alphabet, which I did trim yesterday. I find these valuations very forgiving. There's no sign of capex letting up. So all of this to me is just the market flinching. That's the only way I can say it. I don't >> You flinched yesterday in your own. >> I already admitted it. I already I get that. But do you regret that? >> Not yet. I mean, first off, the stock's down Alphabet from where I uh where I trimmed it. And I wouldn't be surprised, Scott, if that money gets recycled back into Alphabet before too long. Um and my point being is that when I did that yesterday and the fact that I'm not doing it today with Amazon, it's because I'm not worried about the market overall. Others can have different opinions. Totally get it. that's fine. But I look at these capex plans uh that have come from Meta, Microsoft, Amazon, and Alphabet and I say it's game on. I mean, this this to me is what the large language model providers have been saying were at best in the middle innings and more likely in the first third of the ball game. >> There is a correlary though between the two. Customer behavior, consumer behavior around search is obviously changing. Alphabet revealed that and this in some respects with the Amazon ad number kind of reveals that too. The market's grappling with all of that. So it's not like apples and oranges. It's u you know a Macintosh and a Gala >> uh in the same basket. They may taste a little bit differently, one's sweeter than the other, but nonetheless they're of the same. >> Yeah, I think I think this is a very interesting point. I mean, I think the outsized reaction from Alphabet yesterday, Scott, I think was because obviously the search business is so much more vital in terms of the profit engine for Alphabet than it is to Amazon. I'm not saying it doesn't matter to Amazon. That's not what I'm saying. >> Ad revenues matter a heck of a lot, >> but not as much as Alphabet. And actually, I'm burying my point, which is to me this seems solvable. And if it seems, I'll tell you how in a second, but if it seems solvable to me, and I'm not working at Alphabet, I'm not working at Amazon. I'm willing to bet there are smarter minds that are working this out right now. As I think I said to you yesterday, Scott, you look at this AI mode for Alphabet. I know today's Amazon, but still, it seems so solvable. You just give half the answer and make them click through to get the rest of the answer, and that's where your ads pop up. This to me seems very solvable. >> Jason, what's your take? You have the stock. >> Yeah, so I a couple of things. I think obviously it's a mixed quarter. I mean, slightness on the top, slightness on the bottom, you know, but when I think about AWS, which is up 39% year-over-year, which is a double from last year. I know the whisper number is in the low 40s. I get that. >> Uh, but record margins, 13.9% record uh margins. Gravitron as well as the trannianship are 20x what they were last year and they will be made available to enterprise late part of 2027. So, I think that's an interesting point to mention. the backlog grew from 497 to 578, right? Billion. Um, so I think there's a lot here. Again, capex $75 billion. We still reiterated the 20 220 uh for the year. But I think that um this story from a retail and AWS perspective. Again, that's the largest business. >> But I feel like we're I feel like we're looking back as if the number just came out 10 minutes ago. We've had now time to digest. Now we need to think about what the ramifications of the report. I don't need to, you know, the metrics are the metrics. >> Fine. >> Bottom line, did they present you things to worry about as an investor? Are you tempted to do what Jim did with Alphabet here? >> I'm glad you mentioned that because of the pre uh pre-market that stock was down 7%. It's now down around 2%. To your point, d the digestion of the print is kind of coming online for the market. I would be tempted to lean in here, right? because I do think there's upside potential just given where the metrics are and the forward guy is going to fall >> 10 target cuts today a couple of hikes uh as well and maybe the most profound thing that we got in terms of looking forward is G monster pointing out that the move that Andy Jasse made in giving essentially 2 years worth of AWS guidance that they normally only give one quarter out and they're talking about growth of 40 plus% for 2 years. I mean that gives you an idea of the kind of runway that they see exists for what is now undoubtedly by virtue of giving those numbers the most important part of the business the cloud for for Amazon. So what what would your takeaway be? Dan Iive says it's not the time to panic and sell all the tech winners and head into the bunker. As painful as this week is the underlying signs from enterprise AI buildouts are actually more validated than a week ago and valuations across tech are not expensive. So, how would you assess that? Because he's it's almost like he's speaking directly to you, right? You've gotten more cautious. You've lightened up some of your positions today. In fact, you you sold most of your Nvidia, >> correct? >> So, you're doing what he says you shouldn't do. What's your thought process? >> Uh Dan Ives is a permable. >> Uh that's fine. >> Okay. You know, so that it's necessary to have that perspective. Uh Dan Ives makes his living being a permable, but let me give you the reality. Numbers are the numbers. He's not the only one who would be saying exactly what he's saying. Just take the name out of it. I've I've been necessarily critical, I think, at times of uh of that as well, but nonetheless, just deal with the concept, not the person delivering it. >> The numbers are the numbers. So, there's strong growth everywhere. Obviously, Alphabet had some issues in their in their ad engine, which is important, but I look to the future and I look at the tea leaves going to the future. So Andy Jasse will have to say what he says. He won't be the first CEO to have overstated what the actual numbers will be when they come out, if they do. But you know, the reality is is that cycles don't last forever. And what we've seen in these reports is with the exception possibly of Meta and Microsoft, what we've seen is that the ROI is elusive. And even the ROI in that those two companies has been elusive. So I am absolutely I have very little doubt actually I'll strengthen that. I have no doubt that there's significant overordering in memory in chips and overbuilding in data centers. You see it in every single cycle. Let me just stop you one time. I mean you say elusive. I mean that that's uh that's an interesting word to use with the connotation that you're going to continue to chase the return on the investment for everything you're spending but you're never going to be able to c catch it. I don't think that people believe that. You may have a more elongated road to to chasing it down, >> but it's going to happen. It's obviously already happening to some people. >> It's going to happen. There's no doubt in my mind. Spending on AI hasn't ended, right? All I'm saying is the peak is happening. You know, for the first time, we didn't see aggressive raises in capex spending. >> Well, see, I'm trying to I'm trying to figure out is that good or bad for the market? like does the market want endless spending or does it want kind of, you know, coming to a little bit of reality here and reading the room? Uh, which one is it? Because I'm not sure the market knows >> spending is still high. It's not as if they're saying we're not spending. Spending is still high. So, it's still going to affect their balance sheets. It's still going to infect in, you know, affect their earnings, their cash flow, what they would otherwise do with the money. So, look, I'm still Look, I sold Caterpillar. Caterpillar's narrative hasn't changed, right? It's the data center narrative. Stock's down more than a third or roughly a third from where I sold it. >> Yeah, I got smoked yesterday. >> Okay. It got smoked as it should have. So, you know, so look, so the market's really clearly lining up. Either you believe it's spending is going to last forever and continue to grow and they'll realize the ROI near term or you think it's going to be like every every other cycle. I believe that cycles are just that cycles. >> I think you're I think you're right. >> Although Jim, let me finish. Let me finish. So you see it now in the private markets, right? where the internet companies are having trouble raising capital, where they're having trouble financing, recent ones where people have pulled away from the financing, say we're not going to do it. Our book is full. And that's what happens. So the guaranteed, you know, the take or pay contracts are a figment of people's imaginations. They don't exist. They've been there every single, you know, cycle, including with Micron. And guess what? when it comes time to take it or pay it, they do neither. >> So, this was a three-year cycle and it's and it's nearing its end. >> No, I'm not saying that. I'm saying the growth in the cycle has near its end in terms of the equities and now it's going to be back to the valuation. Now, you can value them on the numbers that you see in front of you today. But my view is those numbers come down particularly particularly for the ones that are capex you know not spenders but the ones that have been on the side of the capex such as an Nvidia. Now Nvidia is its own story and why I sold it is I'm not going to say it's a house cards. It's got a great balance sheet and all that but they're financing everything. I don't see a deal and I see tons and tons of private deals where Nvidia is not an investor, not a guarantor of the debt or investing in debt or doing all three. To me, that is just the height of circular financing, vendor financing, which hasn't ended well for a lot of companies. >> Let me get Bin involved. Bin, I think we we fixed your audio. I hope you had a chance to hear that conversation. Uh, and and if so, what's your reaction to it? Well, I think I think Steve's point of view is really important because the I think he really articulates the skepticism is palpable in this market which the buildout is still early. I think I agree with Steve. He didn't say this specifically, but I I think he's getting to this. There's going to be a lot of money wasted uh with these hyperscalers with everybody. A lot of money will be wasted. But I think ultimately when you look at Microsoft they are threading that needle of still spending billions of dollar tens of billions while also saying free cash and low low positive. You must read the room as a publicly traded company. I mean Google already looked terrible on the charts. The charts told you before earnings it was well below the 200 day that you can't just spend into infinity. And so I think that we were going to continue to see a separation of all of these companies. But I do think it's early days and I think that skepticism ultimately is very healthy. It really like stops and dampens this like bubble from continuing to build. But I think it with Nvidia, Nvidia is about to hit its 200 day. We wanted to bounce off of that. But Nvidia is building out this ecosystem because they're making billions of dollars every quarter. And so I think they they Jensen has said this is a 10-year journey. They're building it out. Will all these companies survive? No. But I do think the skepticism is positive. But I think cloud within invid with with with Amazon Scott cloud with Google cloud with Microsoft continues to be leverage to AI and those numbers are going to continue to grow. So I think a lot of these big sell-offs are overdone because of that skepticism creeping into the prices of these stocks. >> Yeah. I mean take a look at Microsoft for example. Let's just I don't know 6 months guys if you could in the back please. Um Jeff looks at all these results now that we've gotten everything but Nvidia. I don't put Apple in that bunch which reports next week. It's just not the same type of hyperscaler as the ones we're talking about. They say that the Amazon print that we got makes Microsoft look even better u from what it was able to deliver. You Jimmy, you want to take a shot at that? Everybody owns Microsoft and you know Brin rightly points out this idea of reading the room as you know the company seemed to do in the prior quarters report stock kind of took off >> a bit after that and can we see it again? Thanks. Um and there's the move in the in the stock. >> So look at that chart really quickly. Remember that that uh earlier in the year where it dipped down? Yeah, >> that was when they disappointed on a quarterly earnings report. We all remember this. They put put up 38% Azure growth and the market was looking for 41%. Uh they said at the time we were supply constrained. The market didn't believe them. That's why the stock went down. In subsequent quarters, including the most recent one, it's clear that they can meet de or excuse me, they have more demand than they can meet with supply. And that's in part why the stock is going up. I think that's emblematic for the AI trade writ large. But to Microsoft in particular, what's different there? Free cash flow. Free cash flow is positive at Microsoft. And you can see that they recently did a debt deal. I think it was $2 billion and that debt got scooped up really quickly to a degree that Oracle and meta debt is not being scooped up. So that is the big difference. Free cash flow positivity. Otherwise, I look at Microsoft's business and I say not really that much different than Alphabet. It's really the free cash flow that matters. This is why I'm going on and on about this is if the Alphabets and say the Oracles go free cash flow positive. Two days ago, Oracle said back half of fiscal 28, they go free cash flow positive. Market doesn't quite >> and then gave it back because the market doesn't quite believe it. Give me one second, Steve. Here's the point. If you show positive free cash flow, you're in the winner circle. It's really that simple. Go ahead, Steve. >> The market's always paid more for recurring revenues, which is the subscription model that Microsoft has. So based upon that alone, it should be valued more than any of these other companies. I I I think Steve with respect that what Microsoft is going on is not the subscription model which I I look at as their operating system software. I think what Microsoft is going up on is the cloud business which is which is let me just finish which is the same as Alphabet which is the same as one second as Amazon web service. What's the critical difference? You say it's subscription software respect. I think it's free cash flow. >> I'm not saying that's the only difference. I'm saying that supports their base business in addition to cloud. Cloud's also a subscription model by the way, you know. So, so it's very supportive. >> So, I just don't understand what the distinction is you're making on >> the distinction is that that's their whole business subscription model. Amazon has a retail business as well that's subject to the economy. They're not the same type of >> economy is clear. Consumption is through the world. >> Jim, you're missing the point. You asked me >> I don't think I'm missing the point. I don't think it's >> Jim, you asked me what the difference was were in the >> I didn't ask you. I told you what I said the difference was and you >> told me what I said also. Okay, you're wrong. You don't want admit you're wrong. That's fine. We'll move on. It's not usual. >> The old Steve Weiss PMIC. Go ahead, Steve. Tell us how you're right all the time and everybody else is wrong. >> I don't have to be right all the time to look like a genius. >> Snipes wondering how the heck did I get in the middle of this nonsense? Uh let's move to Intel. Uh because it's plunging on a weaker guy. It's the worst day since ' 74, 1974. Uh, sympathy sinkers are kind of everywhere on this one. Dell's down. Arista Networks reports next week down. Uh, Jason, you have that. Bin's got Dell, AMD, Qualcomm. They're down ahead of their earnings next week. You got a bunch of chip names. Uh, as well, we want to get to Twilio, too. Uh, it's important today. It's dropping on a weaker revenue guide. So there's, you know, a fair amount of red in the orbit of Intel today. Look at this though, down 17%. Much slower AIdriven consumer or customer service adoption than analysts thought there was going to be. Companies are deploying AIdriven chat bots and voice agents, I think, more cautiously than some thought. They're kind of the middleman in the infrastructure AI highway. So that is what happens when you kind of disappoint to a degree which they apparently have done. Joe Terteranova bought the stock what 10 days ago. There he is. You got stopped out. U so you're fortunate to have a stop but nonetheless the calculation was obviously wrong as to what you thought was going to happen here. >> Oh for sure. And uh getting stopped out at $188 doesn't feel so good. basically given back anything that I had ever profited on in Twilio over the last 10 years. This is a disappointing earnings report. It's very clear that for all of these software and AI adjacent names, you need to get a 1,600 on your SAT, otherwise you're going to get punished. The expectations were very high. They beat on earnings and revenue, but the outlook going forward for guidance was disappointing. And I think it's emblematic of what we're seeing during this earning season for technology companies. And it really hasn't been the catalyst that I anticipated it to be as we move into uh November. And I've said I think we get this return of optimism. I thought that return of optimism was going to be built on the foundation of really strong earnings just not happening. >> I mean you made the case yesterday that you expected Amazon to have a great report. You expected these mega caps to have great reports this week. They arguably did. You also expected that the price action would look good relative to the you know the Microns and the Western Digitals and the Lamra searches and we didn't get that either really. Um you know Microsoft had pretty good reaction but what what do you make of that now? >> I think that the reaction to all of these earnings report suggests to me that positioning is probably a little bit more full leaning more bullish than I anticipated. >> Full. No, but I don't think it's what you anticipated. We knew it was an undeniable fact that positioning coming into this week was cleaner. There was a lot of deleveraging uh by hedge funds and some institutional investors. That's a that's just a fact. So, it's not like get getting that wrong. >> It's maybe thinking that the market was ready to move above and beyond some of the questions it had about the AI trade. And if nothing else, this suggests we're not. >> Well, I think I think there's a couple things there, Scott. Number one, as it relates to positioning, I thought we were looking at a clean sheet of paper we where we had done enough deleveraging. I think it's obvious that we haven't based on the further deleveraging that we're seeing in the market across the board for technology and the momentum factor. So, I was wrong about that. I also think that we need to elevate in all of our conversations the extensive supply constraint challenges that the industry is facing right now. And the only way you resolve that is through further spending and increasing spending. And I don't think you're going to pay a premium for a stock price if you're telling me you're going to have to spend more to resolve a supply constraint challenge. So, I I think that's a combination of where my expectations for the week kind of went the wrong way. And again, look, it's going to happen. And and what you're doing is basically you're neutralizing and reshaping the wrist as best you can. I'm still not pulling away from the belief that I think in November we could have this return to optimism, but the market right now is not proving me correct. So, you're going to play defense. Well, I mean, the the the crazy thing is is because it's been such a uh a cap weighted move in the in the market for the most part, the S&P is only 3% off of its high, which it has a feeling as though it's much worse off, even though it's really not. However, however, 60% of the S&P's constituents, Joe, are at least 20% at least from their highs. It's kind of a sick market underneath the very very highest levels of it. >> Yeah, I Scott, I think it's a very difficult market because you have the absence of a real defined trend in either direction. There are days where as a bull, which I've been over the last several weeks, you get very excited about the price action. And then there are days like last Friday where you're bare and you get excited about the price action and think we're breaking down and evolving to a fullblown bearish trend for the S&P and that doesn't evolve. I still see the market rotating internally and obviously right now it's rotating to a more defensive strategy with healthcare and energy. It's not really uh rotating towards cash just yet. We'll see where we go here in the first week of November and the effect of the midterm election, but it still is playing off this theme, which has been the theme of 2026 of let's rotate between offense, defense, and the various sectors in the market. That seems to be what we're doing right now. Unfortunately for me, it's rotating away from the momentum factor. >> Yeah. I mean, again, once again, a broken record, healthcare, staples, uh, utilities, >> energy among the the big leadership groups. that that's not exactly the greatest offensive sign uh in in the market. Joe, thanks. Appreciate it. Good weekend to you. We'll see you next week, I'm sure. That's Joe Teranova. Uh Jason, I'll go to you uh for the sort of broad thought to leave us before we take a break on on where you think this market really is. >> Yeah. Yeah. So, I mean, obviously, you were just talking about some of the software names Joe did, you know, and looking at an Arista and a Qualcomm and looking at some of the pain there. I think for me to your point uh Scott you know the the market taking a defensive tone seeing some of seeing staples seeing energy well not not necessarily but but staples financials and other places the market starting to really get some life you could be viewed two ways right you want to view it as a as a positive in the fact that we saw some good macro data yesterday and GDP numbers are very positive 3.4% 4%. Um, but if you're taking it from a defensive perspective, that's not necessarily a positive uh positive note going forward. So, for me, I think you just got to kind of um take a full breath, do your do your work, do your analysis. I think some of the premium out of some of these larger names that have run a lot are starting to come out. So, you want to look at the multiples again and and start to really reshuffle the deck. >> I can't remember a time where you could have, you know, the economic data looks pretty good, right? the the Fed and the chair himself not two days ago would come out and upgrade the economic outlook, use the word strong in replace of solid and you would have such an incredible disconnect between what's actually looks like it's happening in the economy and then the underlying market that plays into a strong economy. Cyclicals can barely get out of their own way. >> Yeah. consumer related names can barely get out of their own way. Materials don't look great. I mean, it's kind of strange, >> Scott. I mean, what a great setup. And I think this is a case for AAM's razor, which takes a simplest explanation is the one you should use. So, the question that I'm asking, and I think others are, are we headed into a recession bare market? Are we really now anticipating peak spending or is this a consolidative pause in the markets? The simplest explanation based on the way you just set it up with the economic data, Scott, is that this is a consolidative pause. And that's how I'm playing it. >> Yeah. We'll take a break. We'll come back. We will talk about one sector that has been surging. All right. Welcome back. So, let's talk about that healthcare surge again. Best year since 21. Yes, it's defensive obviously. U but nonetheless, the IBB biotech ETF record high today as well. You want to take the first shot at this? You got a lot of names in this orbit. some of which have reported earnings already and then if you look ahead to next week there are a number uh on the docket as well. >> Yeah, I think biotech's been it's been obviously a great story. It's up 29% year to date and I think the concern uh for some investors around around this trade is obviously with yields spiking and interest rates rolling up. You know, sometimes that kind of takes away from what they do what what a lot of these businesses do and the cost of the cost of care and all that jazz. So for me, um this has been a nice story. M&A is start to pick up a little bit in the space, right? So, I think there is continued juice in this trade and I like this one going forward. >> Okay. Um, we got Madna's next week. >> Madna. Uh, I don't really care that much about the quarter, but I did have dinner with Stfan Bonsel as a CEO on Monday night at a dinner I hosted. And, uh, look, the excitement is just palpable. They've got 39 vaccines and drugs in the pipeline. The results that came out uh on the cre kit true to combination were just fantastic and that's just the tip of the iceberg. >> Best year ever by the way for the stock. >> Yeah. >> Right. I mean that's >> yeah that's phenomenal. Better than co but but so the future's bright. There's also something that's going on. What's going on is that with AI, you'll be able to help drug companies on their trials skip phase one and phase two and perhaps just go to phase three human trials. So the speed to mark will be greater, right? The cost savings will be tremendous. Those are expensive parts of the trial also. So I think overall for the IBB and biotech overall, it's positive thing. They're also investors are also looking for growth. So they get it in biotech because they can't get it right now in some of the AI trades. >> Got some breaking news regarding the Fed. Steve Leeman has that for us. What do we know here, Steve? >> Thanks, Scott. Alberto Musulam, the St. Louis Fed president saying additional firming of monetary policy will be necessary and soon. He's not a voter this year, but he could be a voter next year depending upon if the Atlanta job is filled. Muslim saying moving sooner in smaller steps will reduce the impact on the labor market and the impact on economic growth. Monetary policy and financial conditions remain accommodative. That's an important assessment of where the Fed is right now. And he's not concerned by the recent tightening of financial conditions. Uh in addition, Mousan goes on to say inflation is too high. He sees it as broad-based and risks on inflation are to the upside. The labor market by contrast is stable and he does not see it driving inflation. The US economy is growing at or above potential despite a series of negative supply shocks. The most likely scenario, he says there's two scenarios out there. Most likely is the Fed has to hike further. A possible but less likely scenario he points out is inflation returns to target without rate hikes. That could avoid what would avoid rate hikes is falling energy prices, higher productivity or slowing demand. Just a couple more here where he says the AI boom is likely to remain a tailwind for some time. So Scott, there's a little I think he's the first uh Fed speaker after the blackout period ended. Uh and pretty hawkish right out of the gate there, Scott. >> Yeah, but it's interesting though. So there's no distinction to be made between Msalam saying that conditions remain accommodative and the Fed chair's commentary in the news conference where he talked specifically and so directly about you know how financial conditions have tightened and he mentioned around the AI trade around the funding of it some of the impacts that we've seen in financial markets they almost sound like opposing views I I could see how you would say that, Scott, but let me just push back a little bit where my recollection, and I could be wrong about this, is the chairman said that financial conditions were tighter, but not tight. I think he said I would be unable and unwilling to describe them as tight. And that's an important distinction. God, it goes back, Scott, to the to the question I tried to get the chairman to answer uh two meetings ago where he said he removed a dose of accommodation. I said, "So, where are you now? Are you neutral? all you restrictive accommodative. He's not saying that. But Alberto Musulam importantly here is stepping up and saying he sees conditions as accommodative. And I'm here at the shadow of Mark committee um uh meeting and they're talking about a lot of intricate and and and complex stuff on on um on monetary policy. But there's a very simple idea that's also here which is that if you're growing nominally at 6% your funds rate is too low. Period. End of story. You're generating inflation in the economy. The economy is running hot. Maybe we don't have to think too much about it. If we're going to do 6% nominal growth, you saw that GDP number yesterday. And we're doing 3% plus inflation, maybe your funds rate is too low. >> Unless you're in the camp that says just let it run high. See what happens till we figure out the full effects of AI. You make really good points, Steve. I I appreciate it. That's Steve Leeman, our senior economics correspondent. We'll see you uh in the days ahead. Of course, coming up, more on what is working. Our top calls of the day will be debated next begins Visa price target goes to 465. It was 420 overweight McQuary best month since October of 22. So you're looking at four years Bin for this stock. What's got it on the move like that? >> I mean there are very few companies where it's a great stock and a great company very consistently. They have operating they have margins north of 60%. That's not going to change anytime soon. They have a very simple business, high margin, really a duopoly. The stock's up 20%. So, it's like what's not to like? And I think the reason why it has a high multiple is just because of that consistency of margins and the durability of earnings, which very few companies can say that will say outside of Apple. >> Goldman raises JPM's price target. Jimmy 405. It was 392. Well, >> uh, yeah, >> if you believe in that setup we were talking about earlier that the economy is fine, if you believe that the AI AI buildout is going to continue, then financials are going to benefit period. And if you're going to own financials, as with any industry, you got to own the best of the bunch and that is JP Morgan. I know it sells at a premium. It sells at a premium for a reason. >> A lot of the data center power names have been um really under some pressure in the last few weeks. Generova did did get upgraded today though to buy from hold stocks down today. The target is 1,110 U HSBC. There's no ownership. You do have Eaton though, Jason Snive. I mean, it's kind of the same conversation, >> isn't it? >> Yeah. >> Is ish. Yeah. And I think obviously these names have been under some pain with the kind of the overall kind of AI drawd down and what's been going on there. Um, but there's still a lot to be done from a power perspective. There's still a lot to be done from a grid perspective. So yes, I think I agree with some of the earlier comments in terms of the overspend, but just to bring us to um what what is kind of necessary to move this move this kind of surge forward, I think there's going to be continued investment there. >> Jimmy Disney real quick, buy UBS 133 20%. Yeah. >> From here, >> real quick, I almost threw in the towel before the last earnings report. I'm glad I didn't. It has shown signs of life. It has It needs to show a lot more signs of life. Let's see if it can follow through on the next earnings report. I'm in it. >> You almost flinched. >> Your own. >> You were. >> I was going to say that. Yeah. >> He's a flincher, >> dude. I And a farmer. >> I trim once, by the way. I mean, Alphabet was up from 160 to 285 and I trim it. Okay. >> It's a flincher during the week. A farmer on the weekend. >> A flinch. I called it a flinch, but come on. >> All right. We'll take a break. The about a 3-month low for the NASDAQ, which is pushing a 3% decline right now. and significant losses for Nvidia which is down almost 5%. Uh AMD is getting crushed down almost 12. Marll more than 10. Amazon's down 2 and a half. So it had come off its worst levels. It's still under pressure as most of the mega caps are as well. Apple's fared better than the others. It's the best performing mega cap over the last month. It's up more than 4%. And it does report on Monday. Not that it necessarily is going to get you out of the doldrums because it's just different than what all of these other hyperscalers do, right? >> Yeah, it is different. It's a consumer products company that uses technology to sell their products that are embedded in there. Uh, look, they're not going to be reporting what sales are for the new phone or for the duo because those are after the quarter primarily, but they will talk about how demand is very strong. Even though the lead times as is difficult, have shrunk for the 18, you know, a month ago it was a month weight. Ordered one a week ago, I had it the next day. So, but I think it's a it's a portant storm right here. >> Oh, yeah. >> But, uh, but that that's really about it. I think the market continues to be in pressure and my view by the way as you know on AI is not a today yesterday view it's been two months. >> Yeah Bren uh it is important all the time uh obviously and it's John Turnis' first earnings report as CEO as well. >> Yep. I mean from an Apple business perspective this is going to be a strong quarter. Revenues are going to be up expected to be up over 10%. You know, don't forget a couple of years ago they were just grow revenues were just anemic. Earnings were strong because of their buyback. So, it's a little financial engineering, but that 10% plus revenue growth. It's like people are upgrading and buying these phones whether it's a 17 or 18. And so, I think from a I think the the the call will be fine. Revenues will be great. I don't think the stock is going to make a big move like an Apple or an Amazon just because I don't think they have big catalyst. But we do all want to hear about the Google Apple partnership with Siri because Siri, I have the 17 is still really lame. And so that to me is like where this stock gets back going is once we get Siri actually acting more like Muse. >> All right, we'll do finals. We're back. Some are pointing to an FT headline for the recent weakness in the NASDAQ. Enthropic may not secure investment grade rating after the IPO. Blackstone has told investors. That is a direct headline on the FT which has perhaps led to that last bit of a leg lower. We'll track all of it obviously when I see you at 3:00. Uh we'll end on a positive note. Farmer Jim, not the man, but the horse crossed the finish line in third place at Belmont Park just yesterday. I believe only his second race. First, I think was sixth. So, Farmer Jim, literally named after Farmer Jim. Moving on up. What's your final trade? >> eBay. >> Bin. What's your final? >> GPIQ. >> Jason Snipe. >> ABV. >> All right. >> FTEI. It's an investment company today. Things are unbelievable. I can't tell you what it'll do tomorrow. Long-term winner. >> All right. I'll see you at 3. >> Hello everybody. Welcome to BlueCloud Trading. I'm George. It's Friday. It's very late. It's 10:25 p.m. Eastern time as I'm recording this video. So, you'll probably get this video in the morning. But S&P 500, look at the markets today. They were all down. The indices were all down. In this video, I'm going to go over the stocks that were discussed on the halftime report, those clips that we just saw. And I'll show you, let me show you very quickly, uh, some of the stocks that we'll be covering. We'll be looking at these ETFs like Oil K for example, and the SPY QQQ, the Russell 2000, Euro stocks, gold, silver, Bitcoin, Ethereum. We'll also take a look at about 23 of the stocks and ETFs that were discussed on today's episode. And we'll also take a look at Ring Central, RNG, one of our members requests. And I'm not going to spend too much time on each one. I'm going to go through these very quickly, guys. But let me just show you briefly what happened. Um, as you can see, the S&P 500 was down today 1.82%. It gapped down and then continued to drop around 3 p.m. and started to recover. NASDAQ was down 2.86. Okay. also gapped, moved sideways, drops some more, and 3 p.m. recovered a little bit. The Dow was basically dropping all day until 3 p.m. also moved up a little bit, but it was down 1.09%. And the Russell 2000 basically did the same thing, down 1.65%. Let's take a look at the heat map. This shows us the individual stocks within the S&P 500 and how they performed. You can see how the technology stocks were mostly in the red here, right? Computer hardware stocks were down and uh semiconductor equipment and material stocks were down. Just a lot of red. A lot of red. And then um Google Meta was down. Amazon, Tesla was down. What was up? Visa and Mastercard. Some of the financial data and stock companies, insurance property uh stocks were up. What else was up? Telecom services like Verizon, AT&T, T-Mobile. Okay. Comcast, they were all up. Healthc care stocks were up except for Johnson Johnson. Um, diagnostic research stocks did not do so well and industrials were down mostly, right? Caterpillar was down 3.81. Consumer defenses did really well today and so did energy and so did utilities for the most part. There were a few negative ones like CEG and VST. The real estate stocks did were mixed and so were was basic materials. So, we're going to now run through these very quickly. We're not going to spend too much time on this um in this video on any specific one. Oil K, the ProShares K1 free crude oil strategy ETF, the one that I've been sharing with you guys for weeks now, has is still continuing its move to the upside. Here's the weekly chart. Um, what we have what we need is price to be above the 9 period, the green line above the 26 period, which is the red line. We need price to be above the Ichimoku cloud. Very important. And we want that lagging line that you see there, that white line, which is the current price projected 26 period to be above the candle 26 periods ago. That's all very bullish and it's a very easy. Ichimoku, by the way, in Japanese stands for at a glance. And at a glance, we can see that all of that applies. And we have a nice uptrend here with oil key on the weekly chart. I like what I'm seeing here with the directional movement index down below as well. Notice how the green line is moving up, red line is moving down, and the ADX is moving up. That's very bullish. Let's take a look at the daily chart on this one, too. Notice how we have all the elements here perfectly aligned. And same thing here with a directional movement index. So, guess what? Roy K got a blue flag, which means that it it met all the criteria on those two time frames, the weekly and the daily. That's what I look for in stocks. And um yeah, let's keep going. How about the rest of these? Well, no. Uh there's something off technically. Let's start off with the spy, which was down 1.77%. This one dropped and it entered the cloud and stayed inside the cloud. What does that mean? It's basically neutral territory. We were above the cloud and that's bullish. It was a weak uptrend because the faster moving average, the green line, had crossed under the red line. The nine had crossed under the 26 and that's not good. Price gapped down today and stayed inside the cloud. The wick that you see right there represents the low of the day. So, what happened was the buyer stepped in and they pushed it right back into that cloud. Now, um what does that look like? you know, you know, minute by minute. If I switch it to a three-minute chart, we can see that more clearly. So, take a look. Basically, this is where price was yesterday. Okay, it gap down. That's a call that a gap after hours dropped and then you can see this little series of lower lower lows and lower highs. So, there's a high, there's a lower high, there's a low, there's a lower low, and another lower high from the prior one. Lower high, lower high. Okay, until this point right here. All right. And then boom, you can see what happened. Right at that level, things started to change. And that when was that? Let's take a look closer look at the time. It was around 3 p.m. All right. And so it it got back above the cloud. Does that mean that on Monday the S&P 500 is definitely going to be moving up? No, of course not. We've got the elections coming up, too. And then, like I said, there we're going to see some more volatility during this particular time. Once that's settled, okay, everything I think will have a clear picture of where the market's going to be going. So until those elections are over, just expect this. Expect it, you know. Um, so again, daily chart inside the cloud, weekly chart, it's sitting right at the 26 period. It's not broken down yet. We still have a relatively strong, okay, um, market here, at least for the S&P 500, right? this S&P 500. What does what do the cues look like in in uh comparison, they're breaking down a little bit more in three weeks in a row now? We're under the the 26 and the 9 period on the weekly. All right, so it's not great, but we have not taken out any lows. We haven't taken out that low yet. We're we're still above the cloud on the weekly. What does the daily chart look like? The the faster what's happening day by day? Well, you can see uh the the last high was back on October 6, and we've been just dropping all all month, but October tends to be a very negative month to begin with in general. And so, we'll see if uh November is going to be a little bit more um bullish potentially. Look where we're coming to a support level, the 200 day moving average, and there's a hammer type candle here. Would I be adding positions in the QQQ ETF right now? I wouldn't because the cloud is bearish and that's not one of the rules of the cl of the indicator and I kind of, you know, I'm kind of very uh on top of that. I think it's really important to only add positions when price is in an uptrend, not in a downtrend because we don't know how long that downtrend is going to last. It could continue dropping. It could be a more extended drop. So, we have to wait for a turnaround. We'll see it on the charts and we'll see it um when we those percentages start changing too. Here's the Dow on the daily chart under the cloud. So, you can see how it made that little move up from this point here back in October 2nd. The Dow had moved up about uh let's see 5% 4 and a half% and now it's given up some of that right since it's currently under the cloud on the daily. Looking at the weekly chart, we're also hovering above the cloud. So the higher time frame is still telling us that things are not completely broken down yet. All right. On the Dow or the uh the SPY or even the Q's, you know, yes, we're dropping, but it's not like a major red candle, you know, breaking everything apart, you know, quite yet. Let's take a look at the Russell. The Russell on the weekly chart actually looks more bullish, doesn't it? We've got a couple of bullish candles. you have this bullish harami pattern, a large red candle followed by the bullish um candle there, the smaller one that they call that bullish harami and uh it gapped up. Now the problem is it's still under those moving averages. So no on the Russell right now on the weekly chart it's still not looking um perfect yet. Here's a daily chart under the cloud. It's been declining still sitting right at that rising 200 day. Do you see how it's above the 200 right here? So, I'm curious to see if it can rebound. It's also We also have another positive thing that's happening with the Russell, which is interesting. The crossover, the faster moving average crossing above the slower one, right? It takes a little time for that to develop because we have to have a series of up days just for that crossover to take place. But that's a that's actually quite bullish for the Russell. Uh would I be adding positions? Not yet because we're still under that cloud. Okay. The VIX spiked a little bit. It was up 14.5% today. Um but then it, you know, it moved to this level of 23.9 or so and then that long wick represents basically the drop. So the fear spiked but then it eased and we saw that in price. Here is um the 3minut chart on the VIX. So you can see exactly when that started to change course. So here we are. Okay, October 30th, the big spike. It continued moving up, right? But then it lost its momentum. When did that happen? Well, we can use that ADX9 to quickly identify that. See how the ADX was moving up here and it spiked. It kind of dropped right there at that level. It's like a mountain top. It started dropping. If I take that arrow and I go straight up, it happened right there when it basically gapped onto the nine period. And then from that point, the VIX dropped about 14.8%. Okay. So from this point, if I measure from here, you see it says 14.8 right there on the right hand side. The gap from here to that level right there was 4.8 to this level it had moved up 17.7%. So it it it dropped quite a bit. Let's take a look at FEZ the Euro stocks. What does that mean? Well, Monday we might see a continuation uh of the VIX dropping potentially. All right. Everything is based on the news of course. So, nobody's predicting any anything in the markets, folks. Believe me, no, nobody can predict them. All we can do is review what's happening in price, where price was in the past, where it is currently, what's transpiring on different time frames. And depending on what time frame you decide to choose to trade in, okay, you can make that choice, of course, you can and if based on your strategy, you can determine whether or not you want to add a position or not. And there's different types of trading um rules that you can also apply depending on you know whatever skill set you have obviously. But um let's take a look at the next level here. Let's take next stock here. Gold GLD that I'm sorry ETF drop 3.44%. Why is this weak? I mean it's missing all the criteria that we need for a bullish uptrend. price, okay, is under the 9 period, under the 26, under the cloud. The cloud is bearish under span A is under span B. We're under the 200 and the Chica span here. The current price projected 26 periods ago is under 20 under the candle 26 periods ago. All of this tells me you don't want to be adding here. We just don't know when this thing is going to is going to um turn around at this point. We will when the chart changes and that's doesn't look like it's happening anytime soon. Here's a weekly chart. I throw in some trend lines. You can see we broke through this 36012 level. All right. You can see right here. So that's also quite bearish. Um I I think gold is going to drop some more probably. Silver looking like it's going to do the same thing. Um notice how there's no wick at the bottom. I mean, it's a very, very slight wick, which means that the the selling this week just continued, you know, it just didn't stop. Here's a daily chart. The daily chart, too. Um, you know, it's it's not good. The fact that we stayed um under that 4961 level, let's look at Bitcoin IBIT. Here it is in the daily chart. It gapped down today. big volume, almost twice as much, maybe two and a half times as much as the prior day, and it entered the cloud, which means that we went from a weak uptrend because it wasn't really moving uh, you know, we had the negative crossover here. It was a weak uptrend. We went into neutral territory. So, now we went from weak uptrend to neutral. Uh, we're still above that 200, but uh, we'll see what happens on Monday with Bitcoin. Here's a weekly chart. As you can see here, we we this week we dropped back under the cloud. So, Bitcoin is not something I'd be adding to the portfolio. Obviously, Ethereum is also looking quite negative, down four 4.44%. Look at these multiple weeks here. 1 2 3 4 5 6 weeks in a row, Ethereum has been declining on the weekly chart. And here's a daily chart. That did create a bullish little spinning top, but I wouldn't be betting on this being the uh the change in direction. They don't always work out. Higher probability that we might see a little bit of a move up on Monday. Just slightly higher probability, but then it's going to hit its head right on the resistance level here, the cloud itself. All right, let's keep going. Now that you understand all these rules, we don't really spend too much time on me explaining all this stuff. I'm just going to go through these very quickly, guys. Let's look at Apple. It has a blue flag. All these. So, basically, Whoops. What did I just do? I had to pause the video because I accidentally took the blue flag off of XLV and that would be a tragedy. So, out of 23 out of 23 stocks and ETFs that were discussed on the halftime report, just nine of them, the ones at the top here meet the criteria that we're looking for. So, let's let me go through through these quickly. Apple looks good here on the daily chart. You can see it actually did drop temporarily under the two moving averages with that with that long wick, but then the buyer stepped in, brought it back up. So that's good on the daily. On the weekly chart, we're still above the cloud and above the moving averages. AVY, very strong chart on the weekly, very bullish on the daily chart as well. That's in the healthcare sector. IBB, the biotech index fund ETF is looking pretty good. Let's start off with the weekly first. The weekly looks really good, okay? because we this week we got back above that 9 period daily chart we ended the day with a negative reversal candle and we were down slightly 0.1%. So on Monday, you know, you have to see where price is going to is going to be heading. Will it basically get back above the high of that reversal candle or under the low? It's under the low. It's probably going to re try to retest these moving averages here. Um Mona MRNA, and biotech also on the daily chart up above the moving averages on the weekly chart. We have a nice bullish chart as well. Okay. Um, let's take a look at Visa. That looks good. It's the financial services. You can see it's above this 38557 level. Daily Whoops. Daily chart looks okay except for today's candle. We were up 72, but we have a reversal candle. It could pull back slightly. But overall, this is a strong uptrend is what I'm suggesting. And same thing with Vertex. Look at these nice gap ups here. And did we get above the high though of of this candle? Let's find out. Let's go ahead and throw that trend line there. Look at the high was 56025. There we go. That's a daily level. And guess what? We're still under it. Five. We closed at 558.88. So just keep that in mind that we stalled right there. So whenever we come up close to a prior resistance level, prior high, expect price to potentially reverse course. So just watch out on Monday. I mean, it had a nice move four days in a row. You know, it's going to need some more uh momentum to to continue that move. XLE looking good here, up 1.91%. This is the energy ETF. You see, it gapped up and then continued up. Weekly chart also looks pretty good here. You know, five weeks in a row we've been moving up. XLP consumer staples also looks pretty good for four weeks now. It's been moving up. It's everything is above the cloud. And the moving averages on the daily chart, same thing. Except for this reversal candle. I'm not too keen about that. It might pull back a little bit here at this point. Uh again, this is a reversal candle because it shows us weakness occurred throughout the day after the gap up. So if I switch it to a three minute I can basically show you that there. So here we are. We gapped up with XLP. Okay. Uh after hours and this was the opening price. It moved up slightly and then dropped. Moved back up. Did not get back above that opening price. Um it moved sideways and then dropped. Okay. So that's why XLP although it was up 1.41% 41% when you look a little bit deeper under the hood you can see that you know this potential that it will reverse course all right on Monday XLV same thing and and healthcare has been a very strong trend but this is a reversal type candle as well gapped up and started dropping here's a 3minut chart for XLV so you can see at around 3 p.m. No 2 p.m. sorry around 2 p.m. started to drop. Um, okay. So, we'll see what happens. Overall though, do I like XLV? Of course, because it looks fantastic here. It's above the cloud. It's above the moving averages. Looks good on the weekly chart. Okay. The big picture is still strong for the healthc care sector. Look at the ADX moving up. The green line is moving up. The red line is moving down with directional movement index. The rest of these folks, the rest of these stocks and ETFs is something off technically. And look at the percentage drops, too. Let's start off with Amazon. Here it is on the weekly chart. Three weeks in a row dropping, finding support at the top of the cloud. Here's a daily chart under the cloud. But we have a reversal type candle here. Whenever you see price gap to a level, drop some more and then reverse course and start moving up as much as this um stock did today. There's a good chance that it could be on on Monday it could reverse course. Here's a three minute on that one. So you can see that the gap it reached this lowest low of 229 right 200 uh let me see the low was 22936 and that was at 9:33 a.m. It closed up at 24043 moved up 4.8% from the low. So we'll see see what happens. Um let's take a look at Caterpillar. Start off the weekly chart. It's inside the cloud neutral, but you know, it doesn't look like it's moving in the right direction. It looks like it might break through next week potentially. Here's a daily chart. It's been in a decline for a while, right? So, it's not something I'd be investing in. Disney. Let's start off the weekly chart. Weekly looks okay. Uh I'm not crazy about the fact that this cloud is still, you know, just moving sideways, but the single span A is above the single span B. Price is above the tenants and key junen and the cheapest band is above price. But you know the cloud itself has not established a nice move up yet. It's still moving sideways. And if you look at the daily chart, we can see that cloud also moving sideways right there. Price today closed under the nine period. So it does not get a blue flag for that reason. The rest of these, let's take a look at ETN under the cloud on the daily chart. No on that one. FTI is also under the cloud on the daily. Okay, it's been in an established downtrend. I mean, obviously, when you see uh a stock dropping this much over that period of time on the daily chart, assume that the weekly chart is going to be very weak on that. Let's take a look at the weekly under the cloud. Now, today we had a big, you know, I'm sorry, this this week FTA actually moved up a bit and got it back above the 9 period, but this is not a buy signal for me personally. It might be for some other people when they see something like this like, you know, they're looking uh for that um reversal. You know, you get the dogee here. You have these reversal type candles. You see price getting above the nine, above the 26. It entered the cloud here on Thursday and then on Friday though, it dropped right back under. That's why you can't really trust it. And we're still under that 200 on the daily chart. So, FTI is not something I'd be adding. GEV. So, GE Vernova under the cloud in the daily. know on that one. Google is also under the cloud. We're coming closer and closer to that 273 95 level. It dropped another 1.4% today. Here's the daily. And let's look at that weekly. Okay, we're coming close to a support level right there. We'll see if Google can reverse course soon. GPIQ, which is Goldman Sachs NASDAQ 100 core premium income ETF. Okay, still three weeks in a row dropping. And then on the daily chart, we're under the cloud. Intel, big drop today, 28%. This is the weekly chart. It went from last week where we were above the cloud, but onto the moving averages. There was was still in a state of weakness, right? Since we had that dogee back on October 2nd, the week ending, October 2nd, Friday, and then price started to reverse one, two, three, four weeks in a row dropping. So, Intel has dropped approximately 45.6%. 6% since that point, which is insane, right? And you know what else? If you look at that weekly chart, what else do we have? Well, we have a lower high here from the prior one. We also took out the low here this week. That's very bearish. So, that's not looking good. The volume is increasing. Look at the directional movement index. Red line is above the green line. So, Intel is not something I'd be considering. Here's a daily chart. Okay, it's in no man's land. It's It's really far away from everything. It's like a space cadet up in space just um you know, lost. And uh will this turn around here? I mean, there was a big volume candle. Um it's a lot of trading that took place to to make it drop that much. You know, I don't know. I can't predict the future, folks. But we will see on the charts in the near future if that is the case. we'll we'll reassess but right now it's stay ahead of that one. JP Morgan is still under the cloud also. I mean from the lows here JP Morgan since October 7th it's moved up 3.6% but uh it's not uh something I'd be adding here. Microsoft is on the daily chart under the faster moving average and the slow one nine and the 26. What does it look like on the weekly? It's still holding up. So the weekly chart doesn't look bad for Microsoft still even though it dropped three weeks in a row. What's happened is we've um stabilized right above that nine period once again. So it did it la the week prior and then this week as well the cloud has turned bullish on the weekly chart. Chica spin is above price and um yeah their earnings came out on October 28th. Nvidia has also been dropping for four weeks in a row. Okay, four weeks in a row. So, Nvidia from the high here has moved down 15.6% or so, around 15 point something. Um, and on the daily chart, it's under the cloud this week, folks, on Friday. Um, so Thursday, it was inside the cloud. It was in neutral territory. It was trying to hold on for life. Boom, it dropped. Is there a positive? Yes, as I mentioned um before whenever price comes close to the 200 it it does tend to bounce off that level. So we can see that here multiple times. It happened here and here here even though it closed for one week I'm sorry for one day onto that 200 right there. It you know we had a bullish harami pattern and then it moved up. Will this turn into something? I don't know. Monday is going to be an interesting day. All right, let's keep going. QCOM. Oh, did I show you guys the weekly chart? Yeah, it is. QCOM pulling back for five weeks in a row above the cloud. I'd hold off. Daily chart is negative. It just dropped into the 200 as well. That's not good. That's not a good looking chart. What we've got is a a lower high here from the prior one. And we also took out this candle. We call that a descending triangle pattern. If I was to draw a trend line right there and that support level. Okay, it just crossed right through that low. That is not good. Okay. Uh Twilio down 15.24%. Now, this one is interesting because um if we go to the weekly chart, you can see here it's been dropping now one, two, three, four weeks in a row. Look at the daily chart, it it touched the 200, got onto the 200. It actually opened right under that 200 day today on Friday after that pullback and then it started getting bought up quite a bit. See the bullish candle that formed here. So, this is interesting. It could I would not be shorting Twilio here. Let's look at that three minute. Okay, so this is what happened. You can see again the gap on the three with it using this 3minut time frame. The gap that occurred this morning on the 30th it dropped a little bit more started moving up and then started moving sideways and a little bit higher. Um, and so there was a lot of buying, but I would just again not not be interested in this currently. Uh, let's see what else, folks. What else we got? RNG. RNG. This is our one of our members request. Ring Central Inc. start off the weekly chart. So, get rid of these messages here. Some old messages. Okay. ring doorbell on the on the weekly chart. It is still well we have a weak uptrend right now because price just closed under the nine period. You can see that when I zoom in right here that just happened this week. We've been holding up above it for multiple weeks since let's see here. This week right here was Friday July 24th. Since that point it's moved up 91.33%. If you are in the money right now and you've have, you know, you're doing, you know, you get these nice profits in place. Um, you know, this is not looking great here on the weekly chart. We have a shooting star type candle followed by another reversal candle. What I would be doing is watching the low of that candle. The low is $80.7. And I think that on Monday, if it drops under that level, you know, personally, I wouldn't be holding that position. Um, yeah, it's it's uh I would just take the profits, right? I would just take the profits on that trade if I was in the money, but it is overall, okay, still strong, folks. This has potential to continue. Um, and so I like it on the weekly chart. Overall, it does look bullish minus this week. That's why I wouldn't be adding as a I wouldn't be going in uh on Monday in a new trade. I would probably be taking profits if price gets under the low of that candle. That's all I'm saying. Uh I want to see what if this is going to actually, you know, continue to pull back or not. All right, guys. That's going to do it for this video. It's a little late at night. My brain is not functioning. I'm going to let you guys go. Uh thanks for supporting the channel. If you guys want to get access to member content, go to my channel, BlueCloud Trading, and you can get access to the member only videos. I'll be putting out another one this weekend where I go over my portfolio, and I also share new watch lists, both stock and ETF watch lists. I do a more thorough analysis of the sectors and industries, so that you guys have a better picture of where, you know, where where's the best place to be, you know, if you're going to be trading. Um, all right. Have a good weekend, guys. I'll catch you all in the next video. The ichimoku guiding light. Blue cloud traing through the night.