CRITICAL WEEK FOR THE STOCK MARKET (07/13) Stock Market Analysis

Blue cloud trading through the night. >> Welcome back to the channel everyone. In just a second, I'm going to play a few CNBC clips from today's episode of the halftime report. I'm going to pull up the charts and dive into the technicals of some of the mentioned stocks. We're going to look at the key support, resistance levels, momentum, and see if the price action actually backs up what the talking heads are saying. Hit that like button. Subscribe if you haven't already and let's roll the tape on the first clip. >> Carl, thanks so much. Welcome to the halftime report. I'm Scott Wner. Front and center this hour, this critical week for the markets. Earnings are kicking off. Semis under more pressure again. Apple trading at an all-time high. And there's much more going on too. Joining me for the hour, Joe Teranova, Stephanie Link, Jim Leventhal, Serat. I'll show you what we're doing on this Monday with the majors. We are in the red. A number of headlines today. As we said, Apple hitting a new all-time high. happened uh midm morning. Oil moving higher on those Iran tensions. SK Heinex is down sharply. The Korean market was down as as well. Chair Wars is on the hill tomorrow. Earnings are kicking off. We got a big week and we really headline it though with this Apple move. Um you know it's this new intraday high, the first since June. It shows you the move that this thing has been on. It's a little below that level now. It got up to about 320 I think was the number. >> 320. Uh you remember Josh last week said it's going to 400. You you you own the name. You've been uh it's probably >> it's probably been at the top of your list for the the something that you've been focused on more than anything else and buying more recently than anything else too consistently. >> Yeah, it's it's a tactical trade and I've been buying the breakouts when I see them uh last doing so on Thursday somewhere around $310. Um I I'm going to sit back here and not buy further. I see the near-term momentum is a little bit stretched. That doesn't defeat where I think the long-term target is where Apple continues to be one of the leaders as it relates to the Max 7. I think Apple and Nvidia is benefiting from a little internal rotation maybe away from memory and semiconductors. I think that's what's unfolding right now. Um, and I think collectively the market continues to exhibit this game of rotation amongst sectors and subindustries to the benefit of the overall index itself. But as it relates to Apple, steady as she goes moving forward. Sit back, let it take a a a breath here because we've had very strong momentum and then after earnings, I'd be interested in buying more. >> Sirat optimism continues to bloom in this name. Target 365 at city. I told you the Josh Brown $400 of last week. They sue Open AAI. That news comes out Friday after the close. What do you make of the run that this name has had? You could pull the chart back, guys. Look at it over Yeah, there it is. Look at that. like you know you're date um it just had a great move after so many wanted to criticize this company for being behind the the curve on on AI which of course they were there's no saying that they were not uh but now a belief that they're going to get it And it's going to lead to a really robust upgrade cycle along with some of the new products they have coming out whether it's the foldable phone or otherwise you underpinned by a robust buyback even in a a period of CEO transition. This stock has looked beyond that and it it has looked through any bit of uncertainty in ways that other companies might not have exhibited in the stock market. You tell me that someone like Tim Cook is going to be leaving in his role as CEO and then the stock is going to hit new all-time highs a few months later. I think some people would have said, "Well, I'm not sure." >> Yeah. And add to that that they've basically said, "We're raising prices, right? I mean, companies that were raising prices, demand's going to be strong." And I think Scott, one of the things that when you look at the Fab 7 or the other stocks, they're all spending money to grow and going to have negative cash flow. Well, Apple's still got positive cash flow. have support for the stock and the demand for their products just is increasing. So this it's like a safe, you know, ship in a in a storm right now where you can kind of >> a spending storm. >> Yeah. In a spending storm where they can actually say my our shares are too undervalued. We'll buy them back or we'll actually do something to grow. And I think investors are looking for that and and also looking for the the the lack of volatility when you can buy an Apple that's proven over cycles that they can innovate. And I think as AI comes to them as opposed to them going to AI, this is a stock that investors want to hold on to as opposed to kind of taking profits from the others. >> Okay. So So how do we view the mega caps today? This nice move they've had money coming out of semis. It's found a place in in a lot of the mega caps, right? Meta had this massive move last week. It's down a little bit today. Put Nvidia in a separate category. It's not, you know, thought of as the hyperscaler. The hyperscalers are spending on Nvidia. Uh, Amazon's green, Microsoft is green. >> What do you think? >> I'm gonna I'm gonna bring together two thoughts that we had last week, Scott. One is a lot of these mega cap tech stocks are frankly trading at uh value value territory. Uh, I could look at Meta, I could look at Microsoft as two examples of that. And I think this is a time that you have to stay true to your knitting. That's the second thought. These rotations, and Joe, you've been all over them for weeks and weeks. These rotations have been coming fast and furious from semis to software, from large cap to small cap, uh from the market cap weighted uh ETFs to the equally weighted ETFs. Pick your style of investing and stick with it. And I do think this is a time when many styles can work. So somebody who's more I'm going to say price aware as opposed to price sensitive like myself. I can find plenty of bargains out there. And the thing that I have to do though is I have to hold them through whatever the volatility is that on a day-to-day basis comes up in terms of the rotation. So if just as an example, I've bought Micron over the past 3 weeks and today I'm not looking right at the second, but it was down about 5% uh earlier this morning. I'm not thinking of getting out of that, I'm not paying too much attention to today's downturn. Uh we got Taiwan semi coming up in ter terms of earnings at the end of the week. That'll be the first look at near-term earnings for the semis. And I think Micron's going to do fine over the intermediate to long term. My style of investing is not to get too wrapped up in day-to-day rotations. >> Oh, no. You put your face right in the middle of the uh the volatility on that one. You know what I'm saying? >> Kind of. You ever you ever know me to shy away? >> No. >> Yeah. No. >> It's what enders me to you, I think. >> But really, um rather than just sort of taking a backseat and saying, you know, this is this thing's gotten a little too volatile. >> Yeah. the willingness if not ability to sort of double down on your position which I think you basically did. >> I did >> even in the face of that volatility is noteworthy. >> Well and and also fundamental investors. So one of the things I've said to you Scott I've said to our viewers is I think it's important that pretty soon there's going to be an anniversary of the chips act after which Micron can start to return capital to shareholders. I like that. That's something that I look for is in companies that I own. So that sort of fundamental bait, if you will, has me has me nibbling at it. Although now it's about a 3% position, so it's more than a nibble. Um, I do think that look, if you're a momentum investor, Joe, you're fabulous at it. Fine. There are opportunities here and what you've done with Apple has been nothing short of genius. >> Don't patronize it, but go ahead. >> What >> I said, don't patronize it. Just go ahead. >> Jim and I are friends. See my page. I'll tell him when I think he's wrong. No, but I I'm going to go back to what I said. Stick to your style of investing. If you're a fundamental investor, if you're price aware, maybe a GARP investor, a value investor, there's plenty of opportunities out there. I'm looking at Stephanie, your meta. I mean, how could I not be looking at your meta right now? >> You should be looking at at her for the Nvidia, which is the newest buy, which was the the move that was noteworth so noteworthy right last week for us. >> Yeah, cuz I've never owned it before. So, and I just think the valuation has gotten so attractive at 18 times forward estimates. And the company is going to grow revenues something like 80% and mid70s gross margins. Free cash flow is going to double. So, I'm looking for opportunities where I either I have positions and I have more conviction because the valuations have come down to your point, Jimmy. Um, I added to Amazon, too. Uh, the one I'm not adding to is Meta because it's a bit frustrating, but I'm not going to sell out of it completely. I do recognize it's very cheap, but they have to show better monetization uh for that stock to really take off. And I think they eventually will, Scott, but that's a timing kind of thing. I think there's more upside in Amazon. I think there is more upside in Nvidia. And I I have a lot of other technology stocks that I like too. I >> What was the Nvidia stat that the valuation was like the cheapest it's been in seven years 2019 years or something like that, right? >> Yeah. I mean, and this is a company that has 97% of the GPU market. Okay, fine. They're getting more competition, but that's not going to go to below 90. And I think this company has proprietary software that actually also is really hard to replicate as well. So, I think there's a lot of ways you can win with this one. And I just think it's really out of favor right now. And that is very interesting to I know the chart looks horrible, but it's really interesting to me that it's kind of found its footing around these levels. >> It has. It's up 3 and a half% month to date. Um, and it still is, to your point, 12% off of its >> it 52- week high. It speaks to the thing's kind of gone nowhere. >> Yes. uh but it's had a nice little pickup with the other mega caps. >> So, so it's actually if if you're looking at it just predicated on solely on price. We understand the strong fundamentals about the company, but now you have what's known as a return to accumulation and you're seeing that after sitting sideways for a multi-month period and the beginnings of the return to accumulation accumulation rather are are unfolding. I still think that Apple has the capability to be the allstar in 2026. And one of the reasons is Scott, if we could show it again from last week, we showed that analyst chart just how low the expectations are and the 12 month average price target. >> Why are you asking me if we could show it again? >> The 12-month price target for Apple fabulous production team in the control room. >> Thank you for show Can we show that again, please? So, we are >> we are sitting at now $320 for a 12 month price target for Apple >> relative to all the generous price targets that we see for the Amazon, the Nvidia, the Alphabet and only a 61% buy rating. So, the analyst community has this embedded skepticism which is remarkable to me about Apple and their ability to actually embrace and execute on some form of tangible They're torn on the growth rate relative to now what is a more expensive valuation. >> It's it's a P to growth rate for Apple. It's we've had for the last many many years. >> And what does Apple do? They'll come back and buy shares or they'll innovate. Now they're raising prices, right? The the negative on Apple was how much of the can you keep on raising prices? Well, now they just said we're going to raise prices. We're going to see what the elasticity of that is. But to your point also the same thing with Nvidia and Apple. It's having the same story. people don't believe that they're going to keep on growing and to Stephanie's point it has now shrunk to a PE level that we will see now what are they going to do in terms of execution of earnings as the PE will shrink even more if earnings keep on going higher kind of like what happened to the semiconductor memory stocks right >> the difference between an Nvidia and an Apple and memory stocks is you get to reinvest and into R&D which is you're forwardlooking right the the memory stocks as as we know and Jim and I are very familiar here with cyclical stocks and you look at commodities whether it's a Freeport or you know a micron is we know the supply is not catching up right I mean it's just that's the story >> I do think we have to address the news from late Friday uh the open AI lawsuit and because there's two ways to look at it and the first is one that I don't agree with which is that Apple is in some way fearful of open AI and some way encroaching on the iPhone uh with whatever device product they may come up with. That's something that's been put out there. I've read that in the media over the past couple days. I don't believe that at all. I think this lawsuit is just routine protection of intellectual property. If you're in business, you're not going to let somebody encroach in any way whatsoever. But I don't think it's from a position. >> Not just somebody. I mean that you you realize who who left. >> I do realize that product manager. What is it? Tam Tang is his name. >> No, I'm talking about Johnny. >> Okay. You not just somebody. >> Well, I >> or an anybody. I do realize that >> he's the body. >> I got you, Scotty. I got you. But I'm gonna I'm >> What are you saying? >> What I'm saying is I don't think this is a position where Apple is in some way fearful because this was talked I was reading this a lot over the weekend that people were comparing this to when uh Tim Cook went after uh Android models coming out of Samsung because that was somehow a real threat that they perceived at the time to the iPhone. Um that's the comparison that's being made here. I'm saying I don't think that at all. I don't think Apple's in any way afraid of open AI. You don't think Steve Jobs's protege, if you want to put Johnny IV as that, characterize him as that, going to OpenAI and then other people sort of following suit with rumors of a hardware product, you don't think is a potential threat to what Tim Cook thinks is the foundation of his company as he's about to take a step aside. This is almost a protect this house move. >> But yeah, I So my my comment back to you is I don't think it's that dramatic. Do I think it's a threat? Of course it's a threat. And anybody who's in business is always evaluating competitive threats. But I don't think Apple woke up one day and say, "Oh my god, what are we going to do about this?" Um I think this is just routine protection of intellectual property. There's these stories about, hey, you know, they had interviews with candidates and they told them to bring uh a particular hardware to take a look at. that seems like just business as usual in terms of interviewing in the valley. Um, so I look, it makes for a splashy headline, but what I'm saying is I don't think Apple's looking at that as an existential threat at all. There's a long road a hoe to get to the position where iPhone is is reasonably threatened by another competition. >> I've I've made my case. I'm I'm I'm I'm going to stop I'm going to stop arguing what I think is the obvious, but >> it is it is a is a critical um almost founding member of the Apple franchise, Johnny Ives. So, that in itself you have to say is somewhat disturbing. I I I agree with Jim from the standpoint of there have been others we're still waiting for. Remember, I think it was in 2014 we were getting the Facebook phone that was coming. So there are others that have said okay we are going to challenge Apple with some form of hardware. Um but it is it is relevant news for sure. I don't think you you could dismiss the news Jimmy because Johnny Hive that's that is a a significant founding member of that franchise. >> I don't want to give you the wrong impression. I'm not dismissing it. I'm putting it in its place. And you know what it's also putting it in its place is the Apple share price today. All right. The Apple share price is saying we're not too worried about this. >> Why? Okay. Well, let's move on because I didn't want to I didn't want to spend a whole lot of time discussing something that moved on Friday after the close that you know, whatever. Um, the move in memory. Okay. See, watch that water real quick when I got them. >> Got them. You got it, right? >> You might as well start drinking the next one cuz I'm on my way back. >> The move in memory. Um, and and what's what's happening semiconductors? We what do we do with this trade now? What what do we do with it? >> Well, I mean, >> we just sit in sidelines and say, I'm going to let all this play out >> kind of. I mean, I think you want to have exposure to semiconductors as obviously. I just bought one. Um, and I I own Marll. I have been trimming Marll because it's up a whole lot, but I still like it very much. Uh, Broadcom, I think they have $20 in earnings power. So I think there are places within semis but they kind of trade as a whole right now and it's every other day it's either semis are winning or software is winning. It's crazy. So I think you have to take a barbell approach and own both and and have you know a lot of conviction in the ones that you own and then on these ugly days maybe add to I will continue to add to Nvidia if we still see you know the semi-trade online >> that's certainly not nearly as volatile as these others and the problem is we've said multiple times too is >> the idea of well if it dips then add to it. It's been it's driven people crazy. What's down is then up. What's up is then down. It's made you feel foolish for doing stuff at both ends of that spectrum. >> 100%. But capacity is going up four-fold. And so this story is not changing anytime soon. I mean fourfold we're going to see between now and 2028. And when we see that all of these hyperscalers and the capex keeps going higher and inching higher, it's going to continue. Scott, and I think I think I'm on record saying this year we're going to see 800 billion from spend from the hyperscalers. I think next year it could be easily 1.6 trillion. One analyst today went to 1.2. It was Morgan Stanley said they're going about 1.2 to 1.4 trillion in 27 and 28. They're raising their capex expectations for both Meta and Amazon. To your point, this spending is not going anywhere but up. >> No. And last week we talked about how at Meta that there was a rumor that they were going to go spend 200 billion. So now now it's 250 billion. I mean the numbers are crazy and it it kind of makes my head spin. But at the end of the day I know why they're spending and again it's this capacity increase. It's the whole data center roll out and it's not going away and eventually these companies are going to see a return on their investments. It's not going to be this year materially which is why I haven't really been adding to Meta. But I do think Amazon is in a much better position of strength with a lot of their various different businesses, advertising, compute, um, retail, AWS. I and the valuation makes a lot of sense to me. So that's the one that I of of the hyperscalers that I would be buying more of. >> Sirat, we're not going to get hyperscaler earnings for a couple weeks, right? We're going to kick things off tomorrow with the banks. We already know cuz we've said it so many times that earnings growth is going to be robust to say the least. Okay, 24 1/2% is what is predicted today. Those estimates have been rising. Edard Denny says great earnings, great expectations are going to lead to even greater stock prices. Evercore today says 7750 by year end because they raise their earnings estimates. Sevita Supermania at Bank of America says it's more than just a mega cap story. Earnings momentum is likely to continue. I think everybody is building their own bullcase based on the same bit of information, earnings. >> Yeah. And and we're going to get the earnings in the next week in terms of the financials. And look, we're coming into this quarter stronger than we have in previous quarters. So the question is going to be as expectations ahead or are we going to see the Morgan Stanley, JPs, and Goldman say things are steadily improving, not just in capital markets, M&A, wealth management, but we're seeing our backlog improving. And I think that will provide a floor and in fact could help the price appreciation of a lot of these financials. >> Well, City upgrades the financials now to overweight sector by the way is in the top two performers over the over the last month. Healthcare is the other one that's done uh quite well uh over a month 5% 5.1% for healthcare 4.8 for the banks. That shows you what these stocks have done. I think the banks are a buy and they always trade crummy around earnings and so you make your shopping list of which ones you want to buy because they are up a lot into the prints but net interest income is expected to grow 9% loan growth of 7 to 8% deposit 7% and then we get to fees fees golore and we're going to see 26% in investment banking with a plus sign next to that we also are going to see M&A at 9% um you have global M&A is up 57% year to date. So, these companies are all going to benefit. And you know, Morgan and Goldman, they're the obvious plays, but I think you want I'm looking at Wells Fargo. I don't own it anymore, but I'm looking at that because that has lagged. And if they can deliver tomorrow, I think that's certainly an interesting one because of the asset cap lift. This might be the worst quarter for NI. >> This was at one point, honestly, this was your largest position if I recall. >> Yes, it was. Yes, it was. >> Now, you don't even own it at any piece of it. Well, because the last two quarters were really disappointing and I think that you're coming to the end of that now. The NI think is probably bottoming in this quarter and then you go you can actually see an acceleration and the asset cap lift is a very big deal. That is going to lead to much better growth and the stock is down I think about 6% on the year. So it's really lag. So that's on my radar screen to add to. >> What do you think? >> The concern that I have and I added JP Morgan over the last month. I added CVOE as well. I'm a little concerned, and Steph, you and I talked about this before the show, that the expectations have gone very quickly in literally a 30-day period from low expectations to now high expectations for the financials. >> Not all of them. >> Well, there's select names as we discussed like an MX and a Capital One. Yes, >> but I mean even like Bank of America's only >> those got upgraded today by the way. Cap one to buy at HSBC. >> Underperformance looks overdone. MX upgraded at JP Morgan to overweight. Capital One is trading at seven and a half times earnings. It's crazy. It's been it's down 17% on the year and this Discover transaction is going to be enormous for this company and they're going to see something like $2.6 billion in synergies which is totally not appreciated in the stock price. I don't own the AMX. You own the AMX. >> I own AMX has had a little bit of of modest underperformance relative to the sector itself. So maybe the expectations to your point Steph that are embedded are not so high. So I think AMX continues to work in an environment where the we know the economy is really strong. We know that the affluent consumer is out there spending. That's a name I think you can focus on. I'm just saying there is a lot of embedded good news in the money center banks and without question in the financial exchanges. >> Hello and welcome to the first segment of technical analysis for the stocks that they just discussed on the halftime report. We'll get into the second one in a few moments, uh, second clip, and then I'll follow up with more technical analysis right after that. I hope you guys all had a good weekend. It's Monday, July 13th. Let's take a look and see what's going on. The market has already closed, and here's Apple. All right, it actually closed at 31731. Now, an interesting thing about Apple today is that it crossed a level of resistance, the 31740 level. If we look at these prior candles right there, uh it's based on the candle from June 12th. This candle right here. So price had dropped, found support at the 26th period, the red line, bounced off that, crossed it, actually piercing that level with that wick that you see right there, and then dropped creating what's called a um gravestone dogee. Let me just remove that line so you can see it for a moment. There we go. That's a gravestone dogee. Let me show you guys what that looks like on our cheat sheet pattern. All right, this is the bearish single candle pattern. And if we look real close here on the on the right, okay, it's after price moving up, you get that long wick. Doesn't even necessarily have to be a long wick. It could be just a short wick, but the the the actual body of the candle, right, the opening and the closing price are around the same level. So that is a reversal candle. There's a higher probability that we're going to see price drop tomorrow in Apple just based on that candle alone. Uh and the fact that it reached a level of resistance and that's a lot of times what will happen here. Um basically when price comes back to a level that it had touched before 31740 and then reversed. Now look where it closed 31731. Literally nine pennies under that level. So, we'll see what happens tomorrow. Um, the momentum overall is not super strong here. Uh, you can see that the ADX, the ADX9 is still dropping on Apple, but as far as everything else, okay, it does still look relatively bullish as far as the price being above the two moving averages, the 9 and the 26. It's above the Ichimoku cloud, Seno span A and SUP span B. They're both in the correct order. And then we've got the chica span here, the lagging line, which is the current price projected 26 periods ago. All right, that's above the candle 26 peri. So that's bullish on the weekly chart. And let me show you guys the daily. Here's the daily chart. So this looks a little bit more like that uh example that I just showed you the longer wick and the body as you can see here around the same opening and closing price. So that is something that we want to uh pay attention to. The ADX is still still flat here even on the daily chart. So just be cautious about that because this is in fact a reversal candle. All right, let's look at JP Morgan. JP Morgan on the daily chart, you can see this symmetrical triangle pattern that has formed here. Reach that high, that low, and now it's kind of stuck inside this triangle. The question is, will it be able to break to the upside or to the downside? If it breaks up to the upside, obviously that's going to be very bullish. there's a higher probability that it actually will because the financial sector has been relatively strong compared to a lot of the other sectors and um but right now it's basically stagnant in this level. If you look at the weekly chart all right same thing just price movement uh has been stuck in this range for about four weeks in a row now. Okay. And price today was actually down 0.54% as you can see but it did hold up above that 9 period. And then we've got XLF, the financials ETF, and that also had pulled back after reaching the 5659 level. Pulled back, found support right at the 9 period, the green line there, popped up, and now it is just kind of uh we're waiting to see what happens because it does need to break that 5659. That level is based on these prior highs over here. Okay, so you can see that price touched those levels, touched this level. um it's a very important level that it needs to break through. All right. Now, the rest of these, so these are the three top, I would say, uh ticker symbols that make have the most potential to move up. Um and I mean, they're still like at levels of resistance today, but um compared to the other folks, um it's they're much more bullish. I'm not going to spend too much time on the rest of these. Let's but let's get through them quickly. Uh applied materials. The reason I'm not a big fan of this right now is you can see here it dropped under the 9 period here back on July 1st and basically since that point it's dropped around let's see 12.2%. All right. So that's a big drop right there and it's down 4 and a.5% today. It's still in a decline. All right. Looks like we're building a lower high right now for applied materials. There's the second high after the top right there. So there if we can get if we get under this level that's a problem because then it will have a lower low as well. Actually, I take it back. We already have a lower low. If you look at right here, we do have a lower low. So, we have a lower high and a lower low already established. Not good for AMAT. One thing I would caution, however, about is like, okay, let's assume that you have a position in applied materials. Don't forget to always check the weekly charts. Okay, the weekly charts give us a much more longer term outlook. And as far as the weekly chart is concerned, we're still holding above um the two moving averages here for the most part. Okay, so that we could potentially see a reversal, but the daily chart currently is weak. So, I wouldn't be adding new positions uh until this is all cleared up. Amazon is still inside the Ichimoku cloud, and so we don't want to be adding positions here in Amazon yet. Uh it has been moving up, but as you can see, we still have a bearish Ichimoku cloud. That's when the synchro span a the light colored blue line crosses under the purple one which is what happened right here. And then the chico span which is the current price projected 26 periods ago the white line is currently under price. So that's also negative. All right let's see uh Broadcom is also same scenario. Okay. AVGO is the ticker symbol bearish cloud onto the cloud not good. AXP American Express on the other hand looks more bullish here on the daily chart. We have a bullish cloud. That's when the same spin A is above the same spin B and price is above the 200 right now. I like what I'm seeing with I'm sorry, American Express um on the daily chart, ticker symbol AXP, but if you look at the weekly, there's still a lot of things that haven't really materialized yet. So, the longer term time frame hasn't basically uh confirmed that this is a stock that we should consider adding a new position in yet. My whole strategy is to look at both time frames, weekly and daily. If we get double confirmation on both time frames, then we have a higher probability trade. Uh right now the cloud is still bearish here in the weekly and um you can see chica span is still under price. All right, this there's a few things that need to be fixed here first. Um cityroup on on the other hand on the weekly looks very bullish. All right, it's above the moving averages. It's above the cloud. The higher time frame is telling us it's okay. But what about the daily? The daily is not quite yet. Um it's uh basically been pulling back here as you can see. Now this might very well be a very short-lived um you know little tight little pullback here. Uh and if price can get above the highs of these candles here, right? If it can get above that little trend line there, I think there's a higher probability we'll see another leg up. But would I be adding here? No. Price is still under the nine period. And I do like the candle that formed here. This is a hammer type candle. So this is when we have a long wick on the bottom. That represents a lot of buying that happened towards the end of the day. All right. So you see a daily chart and you see a long wick on the on the on the candle at the bottom part that means a lot of buying was taking place. If this is the the wick a long wick on the top that means a lot of selling was taking place. I mean I can show you guys it by switching it to a 3minut. So there we have City Group and as you can see throughout the day, here we are on the 13th. All right, price dropped and then it reached this low. It was around 11:03 a.m. Since that point, Cityroup actually moved up 2.3%. So higher probability here that tomorrow will actually pop. All right, that's just what I expect to see. It is in a strong uh sector as well. Here's the weekly chart again. All right, Capital One is also in a strong sector financials and but it is not as strong. It's inside the Ichimoku cloud on the weekly chart. On the daily chart, we're above the moving averages. We're above the cloud, but as you can see, we are still holding right under that 200. And it's important to pay attention to that 200 day moving average as well. There's a lot of eyes on this moving average. And uh as you can see when price reached that level here it it it um drew back came back to that same level got rejected pulled back again found support at the 26 and the cloud bounced off it. So now we need to see some more confirmation. We need to see the breakout above the 200 at least on the daily and of course on the weekly there's a lot of work here too. We have a bearish cloud currently. Uh DRM is the Round Memory ETF. On the weekly chart, we're under the 9 period. And on the daily chart, we are also just stuck right at the cloud. We might see a bounce here, but uh it's not looking pretty. I wouldn't be adding here. INTC, same thing. It's actually entered the Ichimoku cloud. That's not a good sign when price re-enters the cloud. Um it's currently not a stock that I'd be considering. KAC is under the two moving averages here. Let's look at the weekly. on the weekly chart is finding some support. Now, uh this particular stock I did have a position in this back on June 29th. Got out on July 1st for a 9.3% profit, but after that gap down there, you can see that since that point, it's actually dropped 22.19%. So, that's a big drop for KAC, which is KLA Corporation. I also had a position in LRCX back on June 29th. I shared these trades I share with members, so I will talk about membership at the end of the whole video. Uh so stay tuned for that if you want to find out more about how to become a member by hitting the join button on my uh homepage. So yeah, this one here I closed out of for 3.1% profit. It's a very small uh profit on that. But look, it dropped 19.11% uh since it gapped down. So that's a good sign that I uh closed out of that at the right time. Meta uh platforms uh as you can see here, we've got a declining 200 day. We did gap above it. Um but you know it doesn't it's a very very messy looking chart to me personally. I don't I'm not a big fan of this. It's when I see the the cloud um basically crisscrossing the single span A is under the single span B here. Then it crossed back above and then it crossed right back under and now it's crossing back above. So what we essentially have here just is a very messy chart on the daily. You look at the weekly chart and you can see it even more clearly. So, this is why it's important to look at the weekly, you can get more clarity about what's actually transpiring um by looking at that weekly chart. And so, from this high here, if you switch it to that level right there, you can see this trend line. Okay, we got we're in a downward channel in meta. So, I wouldn't be touching this one either. Marvel has been pulling back for the last four weeks. You can see here it's under the tenants on the weekly. All right, for two weeks now. And here's the daily chart. We've just re-entered the cloud. So, another stock that I wouldn't be adding at this point. It dropped 7.75% and for the last couple of days now, the Chu span, this lagging line here has gotten under price where it was before above it. Now, it's under this is a weak um this is a negative. The directional movement index is also very negative here. That's when the red line crosses above the green line. If we look straight up here, what happened to price? it it's now continuing to drop. The ADX is moving up. That means momentum is increasing. That's the white line. So the ADX9, the white line represents momentum that's increasing while price is dropping. And so that's not good. Okay. M uh Microsoft it was up 1.53%. However, looking at this daily chart, it's still in a very weak uh trend. We're under the cloud. We are hitting resistance to that right there, the 26. If you look at the weekly chart, we're still under the cloud as well. Nothing to do here with Microsoft either. There's a whole bunch of stocks here. We're going through these very quickly. Micron uh on the weekly chart. We're finding support at the 85435. That's a daily level. So, let me show you guys what that level's based on. It's based on this candle here. And so, we came down. We got a little bounce right there, but the faster moving average is still under the slower one. I would not be adding positions here. The red line is above the green line with the directional movement index. No. On Micron. Nvidia on the daily chart is under um well it's I'm sorry it's under this trend line but it's also inside that Ichimoku cloud and one of the rules of Ichimoku is you should not be adding new positions. Okay, when price is inside the cloud or under the cloud. Here's the weekly chart. Okay, it's still holding out but the daily is is showing a lot of weakness here and um I would hold off on Nvidia right now. SMH is still in the consolidation stage. It's been in this consolidation stage for a while. If I switch it to a weekly chart, you can see here there's about 8 weeks now or so, maybe a little bit more than that, 9 or 10 weeks where price has been stuck right in this very very tight range. And uh the this this week it's currently under the 9 period. Right now it got under. So that's not a good sign. It was down 4.16%. Here's a daily chart. Maybe we'll get a bounce here soon. We'll see if we can do that. But um not the time to be adding. SNDK is Sandis Corporation. Here's another trade that I placed back on June 30th. Got out of this one uh the very next day uh for a flat trade because it wasn't going my way. It's okay. It's all right to exit positions when you see that the trade doesn't start playing out the way that you expect it to. And guess what? Since that point, and I shared that I share these trades with members, legend level members daily. Um since that point, it actually dropped another 20.2 2%. So I'm really glad that I got out of that teer pterodine uh technology sector again technology is not a super strong sector to be in right now. Um but as you can see here on the daily chart it's under the cloud. All right here's the weekly chart also under the two moving averages. That's not good for Terodine. Um we've been holding up for a long time above these above the above that 26 period. Um, now the here's the one positive note on the weekly chart. This is the first day of the week. Okay, we have until Friday for this candle to actually materialize and we'll know around, you know, in the afternoon on Friday where we are. Do we sit will we be sitting above that 26 period, the red line, or below it? And if it's under, it's there's a higher probability that we'll just keep dropping. So, let's hope that it can bounce back up. You know, this happened last week, the prior week, right? The week ending, let's see, July 10th, where price got under that 26, but then it the buyer stepped in and pushed it right back above. Can we see that happen again? That's what we're waiting to see with Pterodine. And the daily chart though is not looking super pretty here. All right. Uh TSM, Taiwan Semiconductor also finding support at the top of the cloud here on the daily chart. We're still into the moving averages on the weekly chart. We're under the nine period. So, I'd hold off on this one, too. Uh Wells Fargo and Company. This one is inside the Ichimoku cloud. It's been staying inside of it. Like, it's been held up uh like in this bubble here, right? Notice how price has not broken through yet. And the faster moving average is currently under the slower. That's not a good sign either. But I like what I'm seeing down below with the directional movement index. That's when the ADX9 is moving up and the green line is above the red line. So maybe this might if it breaks through and it isn't a positive sector and it was up 62% maybe we'll see something positive happen here. This is the weekly chart. Here's the daily. The daily is very bullish. Okay, because we broke through that 200. We just need to wait I think uh a little bit longer, maybe until Friday to for confirmation here because it's more than likely to give us an answer this week. All right. Now, we went through about 23 stocks in a very short period of time in about 17 minutes or so. Right now, I'm going to go ahead and get back into the show you the second clip, all right, from CNBC today and then I'll follow up with more technical analysis at the end. All right, so stay tuned. Reporting. I want to call your attention to shares of Oracle. Uh, can we show those please, which are at the lows of the session, turned lower. Um, this stock has had a really rough go. I I just wanted to bring it up because if you if you look at it, it's a it's a new 52- week low. Everybody but Stephanie owns it in some form or fashion. Joe, you have it in the in the tea. So, I don't I don't want to get your take on it first because you're you're sort of locked. You're locked for the for the moment. But, Sarat, you you own it. And I haven't heard from you on on this name in a while. Why do you think this this chart continues to look the way it does? And what leads you to believe that this story is going to look different anytime soon? >> So when Oracle announced the big news a year ago, stock kind of jumped went radically up. We sold about half our position. We kept on it because we still feel that Oracle can make the transition and have earnings power, but they're doing what the Fab 7X Apple are doing is spending into the business. And the transition is going to occur really when they show that, but they don't get any credit uh for this at all. So, we like it still at these levels. It's painful, but we're holding it. >> So, I agree with Sir Rod on the fundamental picture here in terms of why is the stock down over the last several sessions, including today, I think this has a lot to do with the monu monumental debt offerings that have been coming from the likes of Amazon and SpaceX. And if you think about SpaceX, whether that was two weeks ago, whenever it was that they did a $25 billion offering, the spreads on those offerings have been going wide, wide, wide. I think the yield to worse is over 7% on one of the longerdated issuances and it's basically just the debt market is having a tough time digesting all this debt issuance which includes Oracle which has used a lot of debt financing on their data center buildouts. >> All right, welcome back. The call that we teased is from Wells Fargo which asks a question, should Disney exit streaming? They cut the price target to 125 from 146. They lay out the case for Disney to return to its old business model of producing versus distributing. We think it could add up to 40 or around 40% to the stock price by derisking earnings and tightening management's focus to IP and experiences. Farmer Jim, >> I'm going to applaud the analyst for recognizing as I do too that something bold needs to happen at Disney and the share price has been more abundant. I'm being charitable uh by using that word. However, I don't think this is the move to make because if you get rid of streaming, then you've got the melting ice cube of linear TV. I will give him credit that saying this now is a lot different than saying it two years ago uh when when the streaming business had barely turned profitable, but I don't think this is what's holding the company back. I think what's holding the company back over the last year is ongoing geopolitical concerns about what higher oil prices and conflict in the Middle East means for the theme parks, for the experiences. Don't forget that Disney about a year ago announced that they are going to build a resort in Dubai. That's obviously held in obeyance by what's been going on with Iran. I think if you get geopolitical things to calm down, that's really what may put a little bit of lift to the stock. I I wouldn't to me the streaming business is more of a crown jewel at this point in time. >> Really crown jewel. I'm not sure I'd call it that, Jimmy. The stock over the last 5 years is down 47%. I think this note is a reaction to that. to your point, I think everyone's just trying to figure out what this company ultimately could be in the future. I think it has an identity crisis more than anything else. I think if you and by the way, at the end of April, we bought it at 103 and I'm not happy that we bought it and it's in the Jot. I think the balance sheet looks worse than it did 5 years ago. They're spending way more money. They're not really making any strides in streaming. And we heard five years ago they were going for growth, right? They were going for growth via streaming, but yet it seems as though they're just sitting and spinning their wheels in that regard. So, more than anything else, when you think about this company in the future, what is the identity of the company? And why as a shareholder would you ever want to pay a premium for a company that balance sheet looks worse? >> So, I think there's a bigger thing here. I mean, look, we talk about Disney, we got through the succession, nothing happened to the stock, right? Now we're focused on the streaming but you look at streaming alto together look at Netflix look at what Comcast is doing with NBC the streaming that we thought Joe to your point five years ago and then we hit co was you know huge right now it's the quote is funflation right how much can you really charge for all these things so I do think we need a catalyst there I don't know if this is the right one to to Jimmy's point but I think there's a lot of value there and I think you could see consolidation I'm not sure which way it goes but with theme parks with streaming with these assets that are really cashri but they're just not being utilized the right way >> in the last 5 years the the biggest catalyst for the stock has been activism >> that's the big whether it goes up and right >> or or Nelson Peltz that that was the catalyst and that's when the stock moved in both instances so I I look I'd love to see it have the turnaround story but I just don't know what it is >> so let me let me say this um if Disney's problem stock's down 15% year to date is because of geo politics are somehow hindering people from going to the theme parks. Tell me why Marriott's stock price is up on the year. Tell me why the airlines have done so well in the face of geopolitics and rising jet fuel prices because there seems to be at least in my mind a disconnect from your explanation. >> Yeah. Well, I you know, to me the answer to that, Scott, is that the opportunity is there in Disney, but I think that the price increases that we've seen, particularly at the theme parks, have been even more than the price increases than we've seen that we've seen at Delta. And I don't know Marriott that well, so I've got to put that to the side. >> No, but I just use it as an example. You're telling me that the the reason the stock hasn't done anything is because the geopolitics. Well, I gave you an example of a hotel name that's done well. The airlines have done really well. It seems like uh a specious excuse for why the stock is down, for lack of a better word. >> Yeah. I mean, just just remember, Scott, before we had the war with Iran, when oil was at $60 a barrel and gasoline was wherever it was, $3 a gallon, there were still concerns right then, before this conflict started about the inflation in theme park tickets and had Disney squeezed all of the juice out of the orange of the consumer. Um, and now we've got even more pressure on the consumer from gasoline prices. I do think that's what the distinction is. I don't think we were having that same discussion about Delta. And I can't again I can't talk about Marriott because I don't know it as well. But certainly Delta we weren't talking about the inflationary prices before the war with Iran built out. Now I will also say there's another aspect here and I don't think streaming is the problem. I got to just go to that really quickly. All right because that went from a money loser to probably earns about $2 billion over the next 12 months. Like let's not give that up. What has been a problem in addition to this is the studio releases just haven't been that good. I mean, we need, you know, if you want to know where I'd like to see a little bit bit of oomph, it's getting better studio releases. >> Okay. But now we've we've come to other things on the list. >> You're not You don't love the studio releases, geopolitics, the streaming. >> How about ESPN? I mean, that was Dan Loe said, "Spin it off. That's that's the crown jewel. Where are we on ESPN?" I don't think they've been able to leverage that asset at all. >> I I will agree with you, unfortunately. Okay. All right. We'll take a break. All right. Before we go, we have some moves from Sirat. >> Yes. >> So, you bought Ferrari and you bought Striker. Ferrari first. >> I did. So, high quality company that's down double digits this year. They had a misstep, I think, with the EV. Uh, but they're going to do really well going forward because this is a car that you can't get enough of. They are sold out for two more years and the stock price gives the upure. >> All right. Man owns what he obviously drives. You bought Striker, you sold Zimmer, and you sold Zoetas. >> I did. So, it closed out the positions there. Um, Zoetas was a mistake. They kept on misststepping. Um, and then if you look at Zimmer, I'd rather own Striker. Higher quality company, much better management team, leader robotics. They're having an issue with cyber. So, this is the time to get into high quality company. >> You should have just listened to Steph when she sold. >> I should have. I told her I I did. I ate it. >> What's your What's your final trade? >> Uh, Morgan Stanley. I think you the catalyst could be the wealth managers business. >> Farmer Jim >> Black Rockck we see what happened to asset prices in the second quarter. That'll show up in earnings. >> Yeah, they and they report this week. I think it's Wednesday. Uh Stephanie Link >> Capital One at seven and a half times earnings. Really too cheap. >> Take your pick on the refiner Bolero. >> All right. Well, we'll see what this market does. I will see you for the final stretch on the closing bell. >> All right, guys. Thanks so much. Welcome to Closing Bell. I'm Scott Wner live from Post9 here at the New York Stock Exchange. And this maker breakout begins with a down day for stocks. Oil's up, semis remain very unsettled. The scorecard with 60 to go and regulation looks like that. The majors are all red on those renewed tensions with Iran today. Tech's the weakest area. Intel, Micron, Marll, Oracle. I could have put others on the list, but this just gives you an idea of what the selling looks like with an hour to go in the trade today. Apple hitting a new all-time high. Earlier in the session was about 320 bucks. So, it's come a little bit off of that, but nonetheless, it is a record setting day for that stock. Several of the energy names are up today on that move I mentioned in crude oil. Pretty good across the board for the Boleros, the Diamondbacks, Philips 66, and others. Yields a little bit firmer on Waller's comments. We're now in the closing bell market zone. Mike Sani and I capital Shanali Bassik here to break down these crucial moments of the trading day. Oliver Renick standing by live from the SIBO global markets up in Chicago and Pipa Stevens all over that move in energy today and it's a big one for sure. Michael, your take on this market's what? >> So, familiar action where, you know, the tech selloff created this response by the rest of the market to to try to circle the wagons and take up the slack. But, as we always say, the macro factors have veto power over the broadening trade. And I think that's what happened today. You know, with oil doing what it's doing, the yield uh kind of pushing new highs, it did really prevent the cyclicals from taking over. So, we're left with, you know, a lot of a push pull under the surface. is still at the S&P levels you reached two months ago. I wouldn't say it's necessarily something that says, you know, we're we're we're brittle and we're going to break. Uh but it does show you that the market's really been able unable to get out of its own way in a big way and now we have to kind of I guess at least keep one eye on those macro risk factors as earnings start to kick in. >> Yeah. CPI tomorrow morning then worse especially after Waller, right? >> Yeah. Well, exactly. So financial conditions tightening are going to complicate the picture if we get there. The other interesting thing is with earning season coming, we already have very low correlations within the market. So, it's already like every company going its own way relative to the index. That's usually earning season type behavior. So, we'll see if we can get even more uh in that direction or we're going to get some one-way trades here. >> Yeah, I know you're going to get us set up for everything in about 5 minutes, less than that in fact. Pipa on energy, what's happening? >> Yeah, Scott, up more than 3% amid an 8% jump in oil that sent Brent crude back above 82. Now today's gains are being led by the refiners which have been on a tear as fuel futures rise with Valero of Philips 66 and Marathon Petroleum all hitting record highs today. PBF Energy and HF Sinclair also in the green. Ukraine continues to hit Russian refinery infrastructure with more than 80% of the country's capacity hit this year. It's according to the Oxford Institute for Energy Studies. the spike in gasoline and heating oil futures which is a proxy for diesel lifting the 321 crack spread which measures refiner margins to a record $64 per barrel that's up from 20 at the beginning of the year the drillers which are most tied to oil prices also seeing a lift today with Diamond Back EOG APA and Devon all up better than 3% Scott >> all right Pips thanks so much that's Pippa Stevens sitting next to me well the macro comes back in a big way tomorrow morning right >> sure does and you you look at what the financials can offer the fact that you had his IPO boom for the first half of the year, capital markets boom. Remember, you've seen JP Morgan Inc. a billion dollars worth of debt underwriting fees in just a quarter alone. So, we're looking for not just a stellar performance here on capital markets, but also clipping those trading fees and also net interest margin staying strong in the face of a flattening yield curve. >> Two minutes to go here before this bell is going to ring. You follow the Fed as closely as anybody. So, Waller kind of ups the ante this afternoon. We get CPI in the morning followed by Chair Worsh's first appearance on the Hill for his semiannual testimony. That's is going to be a little spicy now. >> It's going to be spicy because inflation's still hot. But let's see if there's any evidence that he sees that inflation can peak in the next quarter or two. Because if that is the case, then what'll happen is not only will you have a Fed on hold, but you have a Fed that can still have a bias towards cutting. If we can still see the Fed see wage pressure remain under control, therefore services eventually come under pressure and oil prices not flying out of control even in the face of increased escalation. >> I feel like that bias though is is gone in terms of the cutting. I mean you got the you know the statement was changed in the most recent meeting. As I said, you know, Waller sort of walks even further away from an view many months ago about cutting rates. >> Listen, it could stay structural if it stays on for too long, but right now we just don't think we're there yet. Scott, you can still see a scenario here with if you see NFP numbers coming in this much cooler than expected quarter after quarter. You're equally going to have conversation a month from now, I promise you, about a tough spot for the Fed in terms of hiking. So, we think the market is doing the work for the Fed a little bit here. And we don't see a hike on the near-term horizon unless we see oil prices fly back out of control. >> Shanali, we'll talk to you soon. Thanks for being here because they're clapping. That means the bell is going to be ringing. So, we'll leave it there. All right, we'll talk to Shanali back again. The market's going to be red across the board. Give me Apple real quick, guys, because this was a day of record setting for that stock. Sets a new intraday high earlier in the session. And even though it's not going to close at its highest level, it's going to be a new closing high again for Apple. All right, in this final segment, we're going to go over about 15 stocks, combination of stocks and ETFs that you see here on the left hand side that they just discussed. And we'll take a look at the indices, too. That's important. The Russell, the SPY, the Q's. We'll look at the Euro stocks 50 gold silver oil Bitcoin Ethereum, and Copper Miners ETF. And then we'll also take a look at one of our members request. CMPS is the ticker symbol on that one. Uh but before we get started on this, I just want to give you guys a a brief uh overview of what happened today. The US stocks closed lower as renewed US Iran tensions lifted a will above $80 and rekindled inflation and Fed rate hike concerns ahead of the key CPI and bank earnings. So, um it's currently 7:33 p.m. as I'm recording this. Let's take a look at the calendar real quick. I just want to show you guys what's going on here. So, tomorrow is a is a really important day. As you can see, the core uh inflation rate month over month is coming out at 8:30 a.m. Then we have the core inflation rate year-over-year. Also, at the same time, uh at 8:30 a.m. the inflation rate month over month and inflation rate year-over-year comes out as well as 10 10 a.m. Fed chair Worsh will come out with his testimony. That's going to be very interesting how the market um is impacted because these are high impact news events. Okay. And um let's see. Are there any other things going on this week? On Wednesday, July 15th, we have the PPI month over month. We've got Fed Share Worship's testimony again on 10 a.m. 10 a.m. So that's going to probably affect the markets again. And then on Thursday at 8:30 a.m. we've got retail sales month over month. Let's see, what do we have on Friday, July 17th, we've got building permits and that and the housing starts. That will that's at 8:30 a.m. That will definitely affect the real estate stocks. And then we've got at 10 a.m. Michigan consumer sentiment. So, it's it's a very interesting week. Let's uh take a look again at how the the markets perform. The Dow Jones was actually down 26%. NASDAQ was down 1.55. It gapped down and continued to drop throughout the day. The S&P 500 did the same thing, down 79% and the Russell was down 85, but the NASDAQ down the most, 1.55. Let's take a look at the heat map. As we can see in the colored uh zones here, remember if it's a very bright green, that's plus 3%. Very bright red, that's negative 3%. So, the majority of the semiconductor stocks were under 3%, right? they may they had losses. Uh the specific stocks like Nvidia, Broadcom, Micron was down 4.3. We had Oracle down 6.47. Uh some of the semiconductor equipment and material stocks that you see right there. And uh but Microsoft was up 1.53. Apple was up 63. The energy stocks were very positive today. They did really really well. Uh Amazon was up8. Consumer defensive stocks did well. Utilities, real estate did okay. And the financials, let's look at the financials. They were mixed. Uh we had some positive, some negative, and the industrials not so great. Healthcare also mixed. We look at the groups and we could see specifically the individual sectors, right? So energy up 2.73% for the day and technology down 2.39. Um for the oneweek performance, energy is up six 6 and a.5%. So from last week um you know energy stocks are are starting to like move up. Industrial is down the most 4.74 and here's the one month performance so far. So the financials at the top 7.79 and energy at the bottom 2 -2.2. So there certainly seems to be a change taking place here because of what's happening in the straight of horror moves. Let's take a look at uh the stocks now. Now, I did add about 15 in here, but there are some stocks that are missing. They may be in my portfolio, and so I'm not I only cover those with members. And so, you may want to consider becoming a member, folks. Now, let's take a look. I'll talk about that at the end. All right. MPC, Marathon Petroleum Corporation. Here's a stock. Oil and gas refining and marketing is the industry that it's in. As you can see, the ADX is moving up. Positive DI is above the negative DI. This is exactly what you want to see in a stock. Uh we've got price, okay, above the 9 period, above the 26 period. We've got the chica span above price. We've got sync span A above synpan B. Okay, we've got a series of higher highs, right? So this high is higher than the prior one. This low is higher than this low. All right, so we can see that it actually found some support at this prior low here. So we can call that a you know basically the uh stair step up right as it moved up. It never broke under or closed under that level going all the way back to this level here. So this is very uh bullish. I like what I'm seeing with NBC on the daily chart. You look at the weekly chart, it also confirms everything. Um and it was up 4.61% today. What about the rest of these? Well, I reviewed all of them. Guess what? No blue flags here. Why? Look at American Airlines for example. It pull it's pulled back. It's under the 9 period. It's finding support at the 26. It was down 3.78% today on the weekly chart. We're pulling back as well after hitting that 1908 level close to that level, that prior resistance level that you can see was touched over here, here, and here. And now it's pulling back. So that's not good. Of course, uh the airlines will be affected by higher gas prices and fuel costs. And if oil prices continue to to move up, um, that's, you know, we're going to see those stocks drop again. Black Rockck Incorporated. All right, this one here is inside the Ichimoku cloud on the weekly and on the daily chart, it's also inside the cloud. Nothing to do here. We have a series of lower highs, lower lows so far. I would hold off on this one, obviously. Delta Airlines also pulled back, but finding support at least at the 26 period right there. So, that's good. On the weekly chart, we're still above the moving averages in the cloud. Uh, but it's not a time to be adding. Disney, same thing. Here's the weekly under price, under the cloud. On the daily chart, it's also under the cloud. So, no on Disney. We've got Fang, ticker symbol for Diamondback Energy. This one has started to move up after coming close to that 200 day moving average. You can see that it actually has moved up approximately 12.5% or so, but it's finding resistance at the cloud itself, and it was up 4.48%. It needs to break through that cloud. We still have a bearish cloud here. It's not as strong, for example, as MPC, ticker symbol MPC Marathon. JetBlue on the daily chart is pulling back two days in a row now down 2.78% holding up as well above that 26 period. Here's the weekly chart under the 200. No, on JetBlue for the time being. Love LUV is a ticker symbol for Southwest Airlines on the weekly chart. We have a lower high that's starting to develop here. All right, so that's not a good sign. lower than the prior high. All right. And let's look at that daily chart for low LUV. Yeah, it's just pulling back right above that 26 period. M is the ticker symbol for Marriott Internet. Uh internet incorporated for lodging, right? Marriott Hotels. This one just entered the cloud. So, this is also negative. Down 3.5%. I also don't like what I'm seeing here with the directional movement index, the ADX, meaning the momentum is starting to increase as the as it pulls back further on the weekly chart. At least we're we're still holding right at that 26 period. So, it's got some support right there for the time being. We'll see if that can hold up. Oracle, on the other hand, today dropped 6.24%. This is the weekly chart you're looking at that's highlighted. And you can see it broke through that 13457 level. And uh looking at the daily chart, it goes all the way back to this level right here from April 10th of 2026. In fact, since that's more of a weekly level, I'm going to color it light blue to signify that it's a it's a basically more important level than say a daily like a light red colored level. And the fact that we broke through that is very significant here because on the daily chart you can see how we had found support here back in February. We found it again in April a couple times, right? Price bounced, moved up, came down. It looked like it was trying to find some support right there and then boom, it dropped right under that 13457. Not good. It's uh higher likelihood now that's going to pull back more. Here's a weekly chart. It's under the 200 as well for two weeks now. Three, sorry, three weeks in a row under that 200 day, the dotted yellow line. So, not a good sign. Where could it potentially find support? Maybe around 120. Maybe another 9% pullback from here from where we are. And then you've got ticker symbol RAC, Ferrari. This one here on the weekly chart. It looks like it's um I don't know. It kind of almost looks like an inverse head and shoulders pattern. You can see the head here, the shoulder slightly higher up, and the prior shoulder right there, the low right there. So, it could be potentially uh something that could turn bullish here based on what we're seeing. But uh the fact that we're still under this cloud, it's we're still in that situation, I'd be very very cautious. We did cross above that 200 day on the weekly I'm sorry 200 week uh moving average and we're still holding up above it right now. Let's look at the daily chart. So yeah, you can see that the on the daily chart it's been looking a little bit more bullish like it broke through the 200. Um but it's uh not something I would be interested in as long as it remains under that bearish cloud. SYK same thing with Striker Corporation under the cloud. know on the daily chart it's above. So you know again you're taking a higher probability trade. It's a higher risk is what I'm I'm sorry. It's a higher risk trade if you take a trade where price is breaking above the cloud on the daily but it hasn't quite you know proved itself on this higher time frame the weekly chart. And when you see that there's a level of resistance here where price has been stalling not just once but four weeks four weeks in a row. Okay. And I would just take that as a as an omen that there's a higher probability it's going to pull back. All right. Uh the weekly is always more important than the daily chart in my opinion. U United Airlines holdings. Okay. So, this one here broke through this resistance level 11921 on the weekly chart. Uh, that happened uh back here on June 26. We closed above we we're pulling back now. Are we going to bounce off this level? I don't know. I mean, if if the oil prices continue to to move up, I think that there we're likely to pull back and maybe even break under that 11921. Here's a daily chart. So, it's just holding by a thread right now. What about uh ZBH? Now on the daily chart, it's looking bullish. We've got a series of higher highs, higher lows. We broke through that 200. The clouds turn bullish. The chos band, the white line is above price. You look at the weekly though and look where it's stalling right at the cloud. So this is a very strong level of resistance. Um I mean you go back in time like right over here. Price came up to the cloud. What happened? Found resistance and pulled back. How big of a pullback was that? Well, if I measure from that level down to this low, it was about a 19.8% chance. Would I want to take a chance here? Why take that risk when I know that there's resistance there? It doesn't make sense. We're obviously in a downward channel here with ZBH. And so, it just doesn't make sense at this time. There's not enough momentum. There's not enough interest. If you don't have enough buyers to help push the price up, all right, through levels of resistance, then it's more than likely to not go your way and you'll probably pay the price for it. ZTS, Zoetas, another one. Okay, this is in the healthcare sector. No. Uh, it's been stairstepping downwards and uh the cloud is still bearish. The 200 is declining on the weekly chart. Here's the daily chart. Same thing. Is it start starting to maybe find some stability here? Possibly. But Oracle looked the same way too, right? Let's go back to Oracle for a moment because Oracle was looking like it was stabilizing right at that level of 13457 where it it it reached that level and price seemed like it wanted to. The buyers were trying to hold it up, but today they lost, right? The the the the bulls lost and guess what? The bears are in control now. Let's take a look folks at the indices quickly. Russell 2000 IWM under the 9 period currently for two days. So Friday and today. Now we're also still under that 299 as I've been mentioning. You know the the indices haven't really been moving. They've been stuck for for three weeks now. Okay, in this range. So I'm not super bullish here. Uh S&P 500, same thing. I mean, since May, we've been in this price range here. Again, um stuck in a box. And when you're stuck in a box, it's it's best to wait. You sit on your hands and wait. This is not a time to be adding positions. You want to wait for it to break either break above 76040 or wait for it to break under some prior lows. Okay. The Q's QQQ ETF. Um last week I accidentally gave it a blue flag. the chica span was underpriced. That was the only thing that was negative last week. Um, and uh, yeah, and of course that I'm sorry, that was not the only thing that was negative. Price was declining here. You can see that that decline. We had a lower high and now what's happening is I want you guys to check out the trajectory. So, um, let me just zoom in a little bit so you can see what I'm talking about. So from this high here to this high, it's a lower high right here. But it's not like a super, you know, the actual decline is is not super steep. But when you go from this high to this high, notice how the the steepness is now starting to become a little bit more deeper, right? And if we get another lower high down here, obviously that could be a problem because then it could it just can sort of start turning over. So, what do we really have here is it it almost looks like kind of a symmetrical triangle pattern right there that we're stuck in. And so, we'll see what happens with the cues, but uh it's not looking super bullish. You get the red line above the green line. ADX is kind of flat right now. We'll see if it can hold up. Um today closed inside the cloud. That's the first time in a long time that we've been inside the cloud. Last time price was inside the cloud was back here back on April 10th. But that was a good sign because we came from under the cloud into the cloud and broke through it. Right? So that's why we wait for that momentum. We want we wait for those buyers to start start stepping in. How do we recognize that? We look to see gaps. You see this gap up? There's a there's a signal when price is stuck right here and it breaks and gaps above a 200 day moving average. That's positive. So now you can start keeping a strong watch on it. And when it breaks through that cloud, you can see that huge move that happened there with the cues. If I measure from that level to the high, that was about a 21.2% move in just 1.7 months. Now, what's happened since that move? Since that date, it's actually dropped 4.7%. The Dow DIA ETF on the daily chart is under the moving average here. Tenkinson on the weekly chart, it's above. All right, the VIX. Uh, let's look at the VIX. That represents the volatility in the markets. Uh, as you can see here, it's it popped into the cloud. It moved up 13.44%. This represents fear in the markets, and we don't want to see that uh jumping like like it did right there. That's not a good sign right there. This is a very bearish pattern for the market. Okay. And when we see the VIX moving up, it tends to have an opposite inverse effect on the on the stock market. Whoops. Oh, shoot. I just um changed the uh trajectory there of all the stuff. Um I I just messed up the order, guys. Okay, let's see if I can figure this out. Well, I'm not sure exactly, but let's see. I think I was about to look at FEZ, the Euro stocks 50. Here's the daily chart. It's under the two moving averages. All right, it's under the two moving averages currently. I would hold off on on Euro stocks. Here's the weekly chart. Okay, we're currently under the tank and we're under the 7052 level. Again, just stuck in this range. Let's see what else should we talk about. Uh we didn't talk about oil K. This is the ProShares K1 free crude oil strategy ETF. Here's the weekly chart. All right, it's starting to like turn up now. Okay, what's interesting here is we had this big move up since the beginning of 2026. It moved up approximately 60% in four four months. It it's pulled back since that point approximately 22% or so from I'm sorry, let me redo that again from this high to that low 24.7%. And now from this low here it's up already 10 and a half%. So it's turning up because of what's happening. That's the weekly chart. At least it two weeks now we're seeing this change happening. You look at the daily chart, it's finding resistance at the 26 period. All right. But it's news that is going to impact this stock and it and if there are enough buyers and enough momentum, it will break through those levels of resistance and then obviously the whole outlook changes once again. All right. As you can see here, this red line has been above the the green line for such a long time, right? all these multiple days and we came close to 200 and since that point it's starting to move up. Now we've got Bitcoin IBIT is the ETF that's down 2.79% today onto the cloud. I'd skip that one meaning not add positions here. I believe in adding positions into strength not into weakness because we don't know exactly how far that draw down is going to be. it could be significantly longer. So, you that's the reason you don't want to be adding to losing positions uh or averaging down because you can be basically investing in a dog of a stock. You know, not all stocks turn around. All right? They don't always turn around. Uh GLD and or if they do, it might take sometimes even 5 10 years. And uh if you're coming to retirement, you want to be a little bit more cautious about what you're adding to your portfolio. Here's GLD. As you can see, it's been declining down 2.62%. That's the daily chart. Here's the weekly, though. Now, gold um is inside the cloud. It has not broken through the cloud here yet. All right. It's possible that it could reverse course and and start moving back up again. You can see this prior low here of 36012. When it reached that level back on June 26th, it came down and the buyers stepped in right there and then it stayed above that level. So, it's finding support at 360. That's a level that I'd be really careful with and and cautious about because if it breaks under, it's more likely to come down further to the 31760 level. You can see that prior level right there. Okay. of those prior highs. That was the prior box. ETH, Ethereum. All right. It seems to have stabilized over here, but it's under the cloud. It's under the moving averages. No. On Ethereum, ETH DIA, the Dow Jones Industrial Average ETF. On the weekly chart, still looks very bullish. Overall, ADX is still moving up. On the daily chart, it is under Tenken currently for the last four days, but it's been steadily moving up, which is kind of interesting, right? So, it could it's under this moving average that seems to be you can see the the moving average itself. It can flatten out, start moving back up, flatten out, start moving back up. That's what that's actually quite bullish. Um, but I would like to see price actually close above the 9 period. All right, what else? We got copper. COPX and that's under the cloud under this symmetrical triangle under the 200 today. That's not good. Closed under the tenins today. Uh last week you can see it tried to recover after this bullish hammer type candle. Here's a weekly chart. Still pulling back, but we're above the cloud on the higher time frame. So, it's up to each trader to determine whether or not you want to hold in and hold off and sit on your hands and wait to see how it all transpires on the weekly chart. Remember, the weekly is more important than the daily chart. There's a lot more noise on the daily charts. That's why it's really important to look at that weekly. All right, let's look at this. The next one, this is the member, one of our members requested this one. This Compass Pathways PLC. It's in the healthcare sector under medical care on the weekly chart. very very bullish as you can see here. Uh we've got price above this 200. We've got price above the 9 period, the green line. We've got price above the red line, the 26 period. Prices is above the cloud. That's exactly what you want to see. The momentum is starting to decline a little bit on the ADX9 on the weekly chart. As you can see, after these three weeks now, it's been just kind of pulling back, but holding above that 9 period. That's really important. So, it's still looking bullish in my opinion on the weekly. Let's take a look at the daily. So, here's, as you can see, we we penetrated the the faster moving average and the slower one, the 26, the 90, the 26, and dropped under. We still technically have a series of higher highs and higher lows. So, there's a higher high here. Let me just higher than this prior high. Okay? See that slope? And this low here is in fact higher than the prior one. So we are still in a upward channel. The question is uh but we're seeing a little bit of a slow down here with the directional movement index. You can see the ADX is dropping. That means that price is just moving sideways right now. So it's consolidating. It's more of a hold position. Uh as far as I'm concerned, you know, um the chica span is right in it's inside the candle. It's not neither above nor under. It's just like so there's there's just a lot of indecision here for CMPS. And uh all right, so that's going to do it for this part of the video. 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