‘Panic Selling’ Today: Yields To 8%, Gold To $3,100, What Happens To Stocks? | Chris Vermeulen

The Dow's down 300 points on Monday morning. It's September 28th and I'm back with Chris Mulan, chief market strategist at the technical traders.com. Chris, welcome back to the show. Another very volatile start to the week. Good to have you back. >> Yeah, thanks for having me, David. Always a pleasure. >> There's some news coming out of Nvidia. It's taking a bid. Uh, meanwhile, stocks are probably reacting to, but I'll get your response to this. Probably reacting to higher yields today and higher oil prices. Oil surged once more. We'll talk about that. The 10 year is now at 5.259%. And the 30-year uh just last week was already last week it was at the highest level since 2004. And now the 10 years is the highest level since 2007. And it's just a straight trajectory up. Chris, people want to know how far this is going to go. What do you think? >> Yeah. Well, there's there's a lot of chaos. A lot of things have been building. The stock market, the economy, it feels like it's it's climbing this wall of worry, which is what the stock market does. But we do have things starting to get to breaking points. These yields are starting to spiral out of control. They have huge large multi-year chart patterns pointing to dramatically higher yields on on the five, the 10, and the 30-year. Obviously, those things can't happen. If they do, we're going to see a huge implosion and everything is going to crash. So, I mean, these yields and what's going on with the war and higher oil pricing is definitely going to continue to put pressure on equities. I think the high yields and and and all that is putting a lot of pressure on dividend stocks. We're seeing utilities. We're seeing um real estate stocks, they're really taking it on the chin with the with the rising yield. All of those sectors have dropped fairly significantly. So, I think we've got very interesting times ahead. I think it's going to become extremely volatile, but I do think equities actually still have have room to rally. The charts are actually still very bullish from equities if we ignore what else is kind of going on. >> Wait a minute. So, let's just pull up the charts. Can the charts tell us where the 10 year and the 30-year are going? I know they're a macro story at this point and to a certain extent they track oil. Um but if you were just to look at it from a technical perspective, can you discern the direction at all? >> Yeah. So this is the monthly chart of the 10-year and the the key to to understanding or looking at this is really just the overall long green moving average is the 150 period moving average. Obviously, when we're in a a rising environment, everything is going up. Eventually, uh we've seen that cross down and now we're in this bullish environment. So, when we look at the yields, the yields from a technical standpoint, when we look at it, and you and I touched on this actually a year or so ago, I was pointing to the chart is pointing to dramatically higher pricing in the yields. Now, this would obviously create a huge collapse and a financial reset, which I'm not sure we're probably going to see the brakes being pumped to try to slow this down, but it is breaking out and starting to run to the upside. It is pointing to potentially 6 and 1 half yield as the first level all the way up to 8% which uh will wreak havoc, right, and create a financial crisis, a global financial crisis most likely. So, we do have trends pointing up. This is a big problem. If we see this take off, it is going to definitely eventually put a major top in the economy in the stock market. We could see precious metals struggle dramatically as well. Now, metals can move up with yields. It really depends on how and why yields are moving. But overall, this is going to create a huge upwind. So, that's that's the 10-year. And I mean, if we go look at the 30-year, the crazy thing is it's it's the same roughly the same chart pattern. We've got the same bull flag pattern and pullback. and it actually points to a very significant previous high uh before. So the this is I mean this is huge. These would be totally life-changing and economic changing for the United States and all of that stuff. So this is what we need to keep our eyes on and you know this is going to have a be a big driver. This is the key focus right now. High energy pricing yields skyrocketing out of control. It doesn't bode well for the economy or for the stock market. So the big question is how is everybody going to handle this? And I I think a lot of people are still somewhat ignoring the yields. They just don't we don't want to give in that hey, this is the start of a big potential run. I I think it hasn't quite put the top in the stock market yet. But if yields start to push up and get over six here, I think we're going to start to see that directly affect the stock market and could start to put a peak in there. Can you just walk us through once more your yield 10 your yield to potentially 8% uh analysis here and uh just walk us through how the technicals could point to that? >> Yeah. So the the thing with with like charting and technicals is a lot of times the charts are going to point to things that investors don't like. Like like for example we get the precious metals they are technically in a bare market. They started that quite a while ago. Nobody wants to accept it. I talked about this at the Toronto Money Show last week of of how these markets move and it's not always what you want, but you need to follow price. You need to respond to what price is doing. So, from a technical standpoint, we're either in a bullish environment or a bearish environment. And you and I have touched on this. It's you're in a, you know, a rising tide or falling tide. And right now, the tide is rising with yields. And I here I use Fibonacci extension, which is one of my favorite tools. I find it's the most accurate tool to gauge where prices going. and is and that is this rally up and this pullback tells us based on that momentum where the next two targets are David and the two targets that I use is the 618 extension. How that works is typically you're going to go up and you're going to hit that 618 have some type of pause or pullback and if you have a pause or pullback at the 618 that means kind of the the momentum and everything is aligned and from there you usually push up to the next level. So this is a very accurate tool. It is foreshadowing and pointing to some pretty bleak times in terms of yields and how this will affect into real estate and a lot of different things. So this is what we need to be aware of and you know the charts are more likely to continue in a trend than they are to reverse direction. It's why we don't ever try to predict tops and bottoms. We really follow price. Let it turn a corner. Follow it. And right now, all the trends, long-term, intermediate, short-term, and momentum trends are all strongly to the upside with with yields. And so, that's what we need to be aware of. And things could spike out of control and create some some crisis sooner than later. >> Uh Reuters actually has a good article summing up the situation. Um like, you know, bond yields 101. What does this all mean? Why why does uh the rising yields matter at all? So, have yields been rising? Yes. Yes. What is the impact on consumers? The 10-year Treasury yield serves as an important guide for mortgage rates as it generally moves intended with mortgage back securities. Higher rates shrink how much buyers can borrow. Now, they used to be based on libore. Now, it's based on the 10-year yield. So, this is an important benchmark rate. Uh what is the impact on companies? Companies typically borrow at a treasury yield plus a credit spread. So, higher higher borrowing costs are going to impact the cost of capital. Uh what does it mean for the US government? more expensive. Uh why do global markets care? Treasuries the benchmark risk-f free asset for global finance. Anchoring the pricing for mortgages. A sustained rise in US yields can pull capital toward dollar assets, strengthening the dollar and tightening financial conditions abroad. Let's talk about that next. Let's talk about the dollar and then we'll get back to equities. But Chris, if you're a bond holder, you should be happy in this environment or a potential bond holder. you're looking at rising yields and you're thinking, "Wow, 6% on the 10-year, that means that a corporate spread uh corporate bond uh that generates even more than that is now rivaling the returns of equity. So, this just presents more opportunities for investors, does it not? >> Yeah, it depends what side what side of the equation you're on. I mean, rising rising rates some people like because they can put their money in the bank, they can buy bonds, get a higher yield. It really depends on on kind of that look like overall the bond the bond Mike when you look at bond pricing bonds are actually falling. They're starting a huge drop. There's a lot of downside potential. I I think rising yields aren't aren't good for the economy. I think um it's going to cause a lot of damage. But overall, some investors love the rising interest rates because a lot of people are scared to get into the market, right? Fear fear can keep people on the sidelines. A lot of people have avoided the markets, the stock market for example. So, they're sitting in cash or in bonds and they're earning interest. So, there's a lot of people who are nervous and don't know what to do and they're sitting in bonds watching rates yields climb and they're liking this. Uh, so it really just depends where you are. I'd much rather be in active and be into an investment that has got potential for real growth versus just, you know, collecting a yield on the sidelines. But overall, everything has its es and flows, right? There's a time to be on the sidelines, a time to be into equities. I still think equities is still the place to be temporarily uh to the upside. Uh but I mean we've got when you we look at the 10-year I mean and we zoom way back on this chart. I mean people well I have to go way back. A lot of people just when you see these big moves people don't you know at a time like back over here people were never probably thinking yields would ever go up to like 16%. When they're up at 16 and 14% they probably never thought it would go down here. And the markets like to do what the ma masses are most like not expecting, right? And so I think I think it is possible that we get up to six and a half, seven, eight percent. I think it's going to catch a lot of people off guard. And I think people sitting on the sidelines in bonds and watching their yields go up could feel pretty comfy when the rest of the market in the economy is crashing and they're like, "Hey, I'm avoiding this crash and I'm getting paid more as things happen." So for that person, this is the perfect storm. But for an equity equities investor, maybe even precious metals investor, it could become very painful because those are going to fall dramatically potentially as as yields go up. So again, it just depends on what side you look at this or how you're an investor. >> Before we continue with the video, let's talk about your most important asset, your personal privacy. 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Uh Chris, let's talk about the dollar now. Are you bullish in the dollar? Do you support the statement that higher yields on the treasuries would pull capital towards US dollar denominated assets? >> Yeah, I think uh as yields go up, it's going to naturally pull people to that currency. Usually if the current so it's going to strengthen the currency. When we look at the monthly chart of the dollar, there's no doubt it is it's channeling to the upside. And believe it or not, the type of chart pattern, the scenario that was here, similar over here and right over here, they're very similar. And I believe we are going to see the dollar push higher. And you and I talked about this a long time ago. I said as the dollar continues to mature, I see it going back up to a$120, way, way up here to these crazy heights, which you know, for a Canadian investor. I was talking about this this morning with subscribers was we're looking at potentially a $1.73 exchange, meaning one US dollar is a $1.73 Canadian. And so I think that the Canadian dollar is going to struggle. We're going to see the US dollar skyrocket and move higher. I like the dollar. I hold all my investments in the US dollar for a long ter long term. Expecting this to go up. I think there's huge percentage gains just in the currency alone. Just holding cash in the US dollar as an international trader is to me a very good play percentage- wise. We could see the dollar move up 14 15 16% maybe even higher. So I like the the US dollar especially from a Canadian investor perspective. Obviously, if you're UK or or different currencies, it might be a different play, but for me as a Canadian, I think Canadians should be very interested in the dollar here. >> It's not just the US um that's experiencing a bond selloff. It's all over the G7 countries. Every every other major developed country in the world has experienced that their tenure rising this year. Why would the dollar be a more attractive play in a global bond sell-off environment here? Well, I think in a lot of environments, we tend to see the US dollar become that safety play. I don't know. It's still the reserve currency. Money. When people get nervous, they tend to move. We we tend to see the US dollar rally. It's just it's just kind of the way it has been and tends to be during times of crisis and uncertainty. Um it's just kind of habit, I think. And so, I think that's one of the reasons it will go. Now, I like to look at the markets, you know, from a very high level. There's different asset classes. And as you know, I use my strategy called asset revesting, which is let's invest in whichever asset is getting the money flow. And if it is flowing out of that asset, we don't want to hold it. So for example, when the stock market is in a a bull market, a rising tide, we want to own stocks. You can diversify, you can spread your money out, that's great. When the stock market is falling, it doesn't matter if you have international stocks in a bunch of sectors, your your portfolio is going to go down. Stocks, doesn't matter what sectors you own, are stuck in the stock market. And if the stock market tide is going down, what happens to all stocks or boats, they all go down with the tide. The bond market is very similar to that. It doesn't matter if they're international, doesn't matter really what type of bonds they are. There's naturally people are piling into bonds. Bonds are going up or bonds are going down. And so if bonds are are falling, like bond pricing right now are falling, you don't want to be holding them. If you're in it just to earn the interest um from that perspective, then you're in a a position where your yields are going up. So the key is to know which asset should you be owning. There's a time when we own absolutely no stocks at all. And I think a cash position or moving somewhere to earn interest safely on the sidelines is one of the best positions to be in during certain market conditions. So I think if you're looking at bond prices themselves, they're in a major bare market. You don't want to hold bonds from that regard. But in terms of if you're holding them for yields and you're just earning collecting the interest, uh it has that perspective to just u continue to sit on the cash kind of just get have the note and get the yield itself as a safety play. >> All right. Well, forget 8% on the 10 year. What happens if the tenure gets to even close to 6%. What happens to stocks in particular? Now, the S&P 500 is no longer at all-time highs. It's currently at 7677 and um this week has not well the last week has not been good for for the S&P overall. Uh except for a few individual tech names, right? There's always there's always stocks that have done well. Meta's done well. Nvidia's catching a bit today, but overall the stock market is um is losing a bit of momentum here. Chris, are you still long? >> Yeah, we're we're long the equities market. I mean, let's let's just quickly take a look at it. I mean, there's there's a lot of bullish chart patterns forming here. We've got um the NASDAQ is is even I could argue in a way is kind of a stronger chart in some regard, but we've got this long pause in bull flag. We've got another smaller bull flag here and it wants to point to higher pricing. We have this very small tight high momentum bull flag pointing to higher pricing. We've got a lot of really interesting things unfolding. Now, today there's there's panic selling. Our custom panic selling indicator today is spiking over three. That is usually a sign that the general public are dumping shares. They don't know what to do. And usually within 1 to 3 days, the stock market puts a bottom in and boom, it pops and takes off without them. So we are seeing a very good sign today, which is the VIX is up. We're seeing panic selling on the New York Stock Exchange, which is the big board. It's all the big brand names. If you were to go to some, you know, joblow investor and say, "Pick a stock," it's probably on the on the big board. And so, when the average investor is dumping shares because they're scared, we tend to see the New York Stock Exchange volume ratio spike. People are dumping shares on the bid. They don't care what price they're getting. And of course, that spikes our indicator. So, I like I like this chart. I think the NASDAQ, when we look at the uh pull up the NASDAQ futures, it's got a very nice chart pattern from multiple things. So we this most recent rally up and this pullback using Fibonacci extension just goes to show how nice this chart pattern is in terms of we had a rally up and a pullback. It's hit the 618 level which is a critical level. It's also a previous high that is naturally going to become a resistance level. And if something hits the 618 and pauses and pulls back a little bit, we almost always go up and see it run and hit that next level. So, there's a I think an easy 3, four, 5% move to the upside based on the short-term pattern for equities that by the end of this week, we could actually be up there. This is a high momentum pattern, and we've got panic selling today, meaning tomorrow, we should probably see the market rebound and start to run up. So, I think there's some pretty good short-term uh potential. And the NASDAQ from a longerterm investor standpoint, I mean, we've got a very strong giant bull flag pattern using Fibonacci extension again pointing to a much higher price up here. So, it's saying that we could see the NASDAQ rally to about 35,100. It's about a 15% move from where we are. So, I really like this. And the MAGS uh the MAGS in general have a bullish chart pattern. They're starting to show signs of strength. the semiconductors SMH has got a bullish chart pattern. If those two pop and break out and start to run, it's going to drag, you know, the indices up and we're going to see some pretty big gains. And I think we're going to see a lot of people pile in with FOMO and it's going to drive the very strong pop. Um, I am concerned if we get a really strong pop and everybody gets it turns into a feeding frenzy, we will be inching our way closer to a major stock market top and yields are going to probably be what could put the top in once they hit that six six and a half level as you mentioned David. I think that'll probably be the breaking point. That is a high yield from what we're used to recently. And of course, it's going to be paying more dividend than a lot of dividend stocks and dividend sectors. It's like you can sit on the sidelines without any downside risk with the same yield as what you're you're getting with some companies. So that could be that that critical point that you just mentioned and we just need to be aware. >> Okay. This is courtesy of Larry McDonald of the Bear Traps report and he's a he he's been a guest on my show and this report talks about the breadth of the S&P 500 deteriorating. So just to quote this particular report, the market breath has gone ugly. New lows are outnumbering new highs and risk indicators are turning up fast. Above all, there are more than 15 global hall of fame brands from Lululemon to Nike which are down 25 to 75% from their highs. The point is that there are more companies within the S&P making new lows than making new highs and so the breath is now at a very, you know, a multi-year low. Uh do you look at market breath in that way? I I do look at it at time time here and there, but overall it doesn't factor into our strategy. There there's there's no doubt the market is kind of weak. It's it's not super healthy. It hasn't been for quite a while. I mean, we still have strong earnings, but the stocks, as you just mentioned, aren't the strongest. The problem to counter that is that unfortunately technology stocks are still actually very strong. They have bullish chart patterns. They are a heavy weight. So, they are masking a lot of what is going on in the stock market. We have we've we're seeing sectors hot one month like up 20 30% and the very next month they're down 20 25%. And we've we've seen that across the board in a lot of different sectors. So that is called sector rotation. That's what happens in a stage three market topping phase we need to be aware of. And so that's the problem. It's camouflage. The market has a great way of grinding higher and people thinking they're being left behind even though it's weakening. The market hasn't been, I believe, that strong for a long time, but you don't want to try and pick a top in this market until actually the trend turns down and there's a sell signal because it isn't as strong as we think. It's the mags and the semiconductors are going to be still hold. They're kind of holding the bag up right now. right now. Um, you're along those S&P, but would you, let's say you were not already invested in stocks, would you enter the market right now and buy more? >> Yeah, if I wasn't in it, I' I'd probably be looking at to buy to get in. I mean, today we're probably having a short-term cycle low. We got panic selling. The trend is up. It's pulled down. Like, this is kind of a a point that if it breaks from here, we've got about a 15% move. And you could put it you could put a stop in under these lows over here. So like for example, uh if we look at the current price today, you could have like a five or so percent stop, but you've got about a 3:1 risk ratio, right? You got potential to make 15%. Uh so all the trends are up on the NASDAQ. It's got bullish chart patterns. There's panic selling today, meaning you get to buy at a bit of a discount. It should reverse and b and turn around if this if all these trends are still intact. If we're in an uptrend, this should recover and take off. >> Okay. Anything else right now that you think uh is a good opportunity right now? >> A good opportunity? Uh not really. I mean, right now, money, believe it or not, is still flowing into equities. That is kind of the the best opportunity at this point. I mean, the dollar's had a nice move, but overall, uh if we have an opportunity to be invested in something, it's always I want to be in equities number one. And then I I'll look down at bonds or or a currency play because currencies generally move fairly slow. So we want to be in whatever moves more which are equities. So to me the play is still the equity space. I think I think the NASDAQ actually has the most exciting chart in terms of it's the slowest moving versus like uh sectors and individual stocks but you get the power of of technology. So, I like it because it's very consistent and I think that is the sweet spot. I mean, precious metals are out of favor and I think I think the play is is equities, hence the reason we're we're in equities. >> Why are precious metals out of favor? >> Well, I mean, they have turned to the downside. Let's go let's just zoom back on this chart. And if we if we take a look at this chart, so basic analysis, the way that I follow the markets is understanding which way the 150day moving average is going. Uh general general rule is there's four stages in the stock market. Stage right now when when the 150day is sloping up and price and all the shorter moving averages are above it, you're in a stage two bull market. Gold was in that for a long time. Eventually you get into a high volatility, a sharp pullback. a lot of damage and momentum is done and then suddenly it kind of somewhat loses that momentum. Eventually the long-term moving average turns down and then all of the other moving averages in price are generally below it. That is a sta stage four. That is a a bare market stage. So the odds are we're going to continue to see metals fall out of favor, taper sideways for quite a while. Silver's doing doing the exact same thing. You don't want to hold an asset that is moving lower, right? A trend is more likely to continue than it is to reverse direction. And it really doesn't matter what the economic story is. Uh you really just have to follow price. I've I've lost all my money trading in an investment account years ago uh simply because I was trading fundamentals and I was owning stocks, some of the strongest companies in the world, but the tech bubble completely blew them up. And so it it doesn't matter how good the fundamental story is. Like when we go back and we look this is the 2011 uh 2013 for gold. It was the strongest story. Most people had just chased and piled in. The story was strong. This is what happens in a stage three topping phase. The story is really strong. Yet the internals are and momentum have changed direction. And investors thought this was going to go to the moon. Instead it fell 45% and really it took about 13 years before it really started to to gain ground again. Well, fast forward to today. Everybody just piled in. It be it went from a uh a trade to a FOMO driven move, a euphoric move. And the story is extremely strong. Everybody thinks the currencies are going to blow up, government and printing and all that stuff. Every time near these tops, the story is really fresh and strong. And you think it's going to go higher, but we're in this this potential topping phase that it's actually going to fizzle down and sell off. And I have the downside move for for gold is about 3,100 uh an ounce if this pattern is to play out. And I I think that's I think that's going to be an amazing opportunity whether you like metals or not being able to pick it up at a discount because we know long-term metals are going to continue to to do very well long term. So, to me, this is going to be an opportunity if this this downtrend rolls over and sells off uh to get into metals, and it'll be another great long-term play. And the way I play metals is a little different than the equities market. So, I got long in 2019 when when they broke out of a base and started a new uptrend, and I exited up just above 5,000. And now I'm waiting for the reset, and then from there, I'll reinvest and hold for a long term. The way I see precious metals is like an insurance plan against banks, governments, currencies blowing up. I don't uh I don't put all my money into them. They are just like an insurance plan like we buy on our house. They're just there. So, I have physical metals stored away somewhere if chaos hits and I just play these super cycles. And so, that cycle is done. And now I'm letting it work itself out, letting risk uh get wound out of it and hopefully be able to pick it up at a technical level for the the a new major bull market going forward. So again, it's in a downtrend. You shouldn't hold it. It doesn't matter if the fundamentals economic story are good. Um it's it can it can go down and lose 40 50 60 70% of value even when this you know everything is saying it should be worth$8 or $10,000. But Chris, if you were to consider that um interest rates are going to rise, >> uh would you would you be even more bearish on gold? In other words, do interest rates rising support your already cautious thesis. >> Yeah, I mean we can see metals move up. It really depends on kind of the trust of people in the governments and the systems and why yields are are running out of control. But generally, I think if yields were to just pop and scream and take off, I think we could we could see gold and silver be under a lot of pressure and sell off. I think that there's a lot of things that come in come into play there. First of all, you can have a good yield with without kind of downside risk. You're going the dollar is most likely going to continue to scream higher, which is going to put pressure on metals. The stock market will be selling off most likely in a very big way. And if there is selling in the stock market, that means there's selling with investments in general. And so that selling pressure will bleed over into margin calls into forced selling of precious metals. And we'll probably see them all sell off together. I mean, we're at like almost I think a record level with margin in brokerage accounts. People are fully levered up and it doesn't take much. A lot of brokers are 2:1 3:1 leverage. Meaning if the stock market falls 20%, people are going to be down 40 or 60%. And the problem is everybody always kind of likes to use margin and they stretch themselves. They don't realize the risk that they're carrying and when things change direction, their their account and their their money drops very quickly and it just creates a lot of selling. So I think if yields keep going up, it's going to just be a major headwind for metals. I think they're going to take a big haircut. It might be short-lived. Like I it could be a very sharp drop down to 3100. It could be like a spike literally you pick some up there or you miss it and it rebounds. But that would be a financial cleansing in the precious metal space if if gold got down there. It's kind of like have a target ready to accumulate some because it may be shortlived with maybe yields have some crazy spike and gold and and drops along with the stock market for some quick crash. You really just have to have a game plan ready. But that's that's what I think. I think metals are have got a lot of headwind here and yeah, >> they're not the spot to be at the moment. >> What about Bitcoin? Can you pull up a chart of Bitcoin right now? >> Huge surge in the last week. Bit of a taper off today. um consolidating pattern, but Bitcoin's been making uh rounds in the crypto sphere as renewed interest in crypto and Bitcoin have emerged in recent weeks following um basically what was a renaissance of Bitcoin's move as of August 19th. >> Yeah. I mean when we look at Bitcoin, it kind of broke into a bearish environment where all the moving averages and price fell below the long trend. It's been forming a series of bare flags. Now it's actually had a big rally and now it's it's popped and now we've got the long-term moving average moving up. Price and the mo shorter moving averages are above it and we've broken, you know, this this high. So, it's definitely got money flowing into it. I think I think if the dollar is going to continue to scream higher, it we might be seeing money moving from precious metals back into crypto because maybe people are concerned that the dollar is going to continue to strengthen and they're worried about the dollar. So I I think there's a lot of overlap between crypto and precious metals traders and so we've got a very strong chart pattern here on Bitcoin. It is now in an uptrend. So it's gone from bearish to bullish and just based on this the price action here we can use Fibonacci and it says hey it is pointing to roughly from where it is trading as you and I are speaking it's got about a 13% move up to 94,500 and if you notice this this level let's just zoom in a little bit more >> it's hit it's 6 it's 618 level and the way it usually works is if you've gone up and you hit the 618 and it pulls back and pauses you almost always go up to the 100% measured move. So, there's some pretty good upside potential here for crypto. I think we're seeing I think people are moving from precious metals and miners and saying get me into Bitcoin because it is actually showing some real strength. So, Bitcoin has turned back up and if you're you know if you're in that space, you want to be overall net long because the trends are up. It's got bullish chart patterns and it's got about 13% upside over the next well based on this chart I could do it in two days. It only takes two three days to make those kind of moves. So, it is primed and ready just like the NASDAQ actually to pop. >> Chris, well, let's leave it off here uh for now. We'll carry on next time and see which of these assets we talked about actually do pop. Thanks for uh thanks for coming back on the show today. Where can we follow you? Yeah, if you want to follow me, you can go to my YouTube channel, the technical traders, or follow my go to my website and it's the technicalraders.com and you can join our free newsletter there. Stay up to speed with daily analysis and uh current analys uh uh articles on the markets, what's unfolding, and what to focus on. >> Okay, we'll put the links down below. Make sure to follow Chris and the technical traders.com in the link down below. And uh Chris, welcome back. Good to see you again, and we'll speak soon. >> Thank you. Thank you for watching. Please do like and subscribe.