🚨 Urgent Update: GET READY TO BUY! Tech Sell OFF Begins! #marketcrash #marketupdate #techstocks

Summary

In this market update, Car with Money Vest discusses the over $400 billion selloff leading with the NASDAQ, focusing on the 'Magnificent 7' stocks which lost over $300 billion. With the Jackson Hole Economic Symposium approaching and Jerome Powell's anticipated speech, the video unpacks market anticipations for a decisive end to an indecisive week. Car also shares his personal trading plans, including selling more puts on Nvidia ahead of its earnings, while providing a broader analysis of market trends and potential impacts on various tech stocks.

Takeaways

• 📉 The NASDAQ experienced a significant selloff with over $400 billion shed, leading a flat week for the markets.
• 👤 Jerome Powell's speech at the Jackson Hole economic Symposium is a pivotal event that could impact the market's direction.
• 📈 Despite the selloff, the S&P 500, Dow Jones, and NASDAQ are still within 2% of their all-time highs.
• 🔢 The 'Magnificent 7' stocks (Nvidia, Microsoft, Apple, Tesla, Alphabet, Meta, and Amazon) accounted for over $300 billion of the market's losses.
• 🗓️ Market anticipation is high for potential rate cuts, especially after the significant downward revision in job numbers reported by the BLS.
• 🤔 There's uncertainty regarding the market's reaction to Powell's speech, with historical data showing mixed outcomes.
• 📊 The VIX index, a measure of market volatility, has moved back to sub-20 levels, indicating lower perceived risk.
• 📉 Nvidia led the losses among the 'Magnificent 7' with a drop of over 3.7%, shedding over $17 billion.
• 📝 The speaker plans to sell more puts on Nvidia, anticipating earnings and a significant trade worth almost $70,000.
• 📅 The upcoming month of September is historically known for market pullbacks and higher volatility, with an average loss and median loss in the S&P 500 over the past years.
• 💡 The speaker emphasizes the importance of having cash reserves ('dry powder') for potential buying opportunities in the market.

Q & A

What significant event is happening at the Jackson Hole economic Symposium?

Federal Reserve Chairman Jerome Powell is delivering a speech, which is expected to be a decisive factor for the markets.

What is the expected impact of Jerome Powell's speech on the market?

The market anticipates potential volatility and clarity on the direction of interest rates, possibly signaling the start of rate cuts.

What was the market's performance like leading up to the NASDAQ's selloff?

The market was flat for the week with strong performances on Monday and Tuesday, followed by a more subdued Wednesday and Thursday.

Which stocks were referred to as the 'Magnificent 7' and how did they perform?

The 'Magnificent 7' refers to Nvidia, Microsoft, Apple, Tesla, Alphabet, Meta, and Amazon, all of which experienced significant selloffs.

What is the speaker's plan regarding Nvidia's stock?

The speaker plans to sell more puts on Nvidia, with a significant trade worth almost $70,000, in anticipation of the company's earnings report.

What is the VIX index indicating about market sentiment?

The VIX index moving back to sub-5 suggests that the market is less fearful and more complacent, which might indicate potential profit-taking.

What does the speaker suggest about the market's valuation?

The speaker suggests that the market is on the expensive side, with the S&P 500's valuation at 22.73, which is in the 90th percentile.

What is the speaker's view on the upcoming market seasonality in September?

The speaker expects market seasonality to play a role in September, which historically has been a month of higher volatility and potential market pullbacks.

What is the current state of the market in terms of the S&P 500 and NASDAQ?

The S&P 500 and NASDAQ are both near their all-time highs, with the NASDAQ experiencing a dip after a strong rally.

What is the speaker's strategy for the next two weeks in the market?

The speaker's strategy involves raising more cash to have a 20-25% cash level for buying power, anticipating potential opportunities due to market seasonality.

What is the significance of the put-call ratio mentioned in the script?

The put-call ratio is an indicator of market sentiment. A rising ratio suggests that more investors are buying puts as a hedge against potential market downturns, indicating bearish sentiment.

What does the speaker expect from the Federal Reserve's interest rate policy?

The speaker expects the Federal Reserve to be open to the idea of beginning rate cuts in September, influenced by recent economic data and revisions.

What is the current concentration of the market in terms of the top stocks?

The top three stocks—Apple, Microsoft, and Nvidia—make up almost 20% of the S&P 500's weight, indicating a high concentration of market influence.

What is the speaker's view on the potential direction of technology and semiconductor stocks?

The speaker suggests a defensive positioning in the market, with significant selloffs in technology and semiconductor stocks, indicating a potential shift to more stable sectors.

What is the speaker's outlook for the market after the Jackson Hole economic Symposium?

The speaker anticipates that the market's direction will heavily depend on the outcomes of Jerome Powell's speech and the Federal Reserve's stance on interest rates.

Outlines

00:00

📉 Market Selloff and Anticipation for Jackson Hole Symposium

The script discusses a significant market selloff, particularly in the NASDAQ, leading to a loss of over $400 billion. It emphasizes the 'Magnificent 7' stocks, including Nvidia, Microsoft, Apple, Tesla, Alphabet, Meta, and Amazon, which contributed to over $300 billion of the selloff. The video is set against the backdrop of the Jackson Hole Economic Symposium, where Federal Reserve Chairman Jerome Powell's speech is expected to be a decisive factor for the market's direction. The speaker plans to cover Powell's speech live and encourages viewers to share their expectations for the market in the comments section. The speaker also mentions their personal trading strategy involving selling puts on Nvidia ahead of its earnings report.

05:01

📈 Market Overview and Expectations from Jerome Powell's Speech

This paragraph provides an overview of the market's state, highlighting the selloff of the 'Magnificent Seven' stocks and the broader market's defensive positioning. It discusses the anticipation for Jerome Powell's speech at the Jackson Hole Economic Symposium, suggesting that the speech could indicate the start of interest rate cuts in September. The speaker also mentions the importance of subscribing to their channel for updates and provides a brief on the market's performance in relation to the 'Magnificent Seven' stocks. Additionally, there's mention of the potential for increased market volatility due to the U.S. election and the suggestion for investors to buy protection against it.

10:02

📊 Market Metrics and September Seasonality

The speaker delves into specific market metrics, such as the Money Vest Index, VIX readings, and stock trading levels above moving averages, to provide a comprehensive market analysis. They discuss the concentration of the market cap within the top stocks of the S&P 500 and the potential implications of this concentration. The paragraph also touches on the historical performance of the market in September, noting the tendency for higher volatility and market pullbacks during this month. The speaker reminds viewers of the upcoming September and its potential impact on the current market trends.

15:04

📉 Technical Analysis and Stock Performance

This section offers a technical analysis of various stocks, including Apple, Amazon, Tesla, Nvidia, and others, highlighting their current market performance and potential future movements. The speaker discusses support and resistance levels, RSI, MACD, and L3 Banker oscillators to predict possible pullbacks or continuations of rallies. They also mention their personal trading strategy involving selling puts on Tesla and Nvidia, indicating a belief in potential market corrections.

20:06

📊 Further Technical Analysis and Market Sentiment

Continuing the technical analysis, the speaker provides insights into the performance of stocks like AMD, PayPal, Visa, Meta Platforms, Netflix, Google, Microsoft, and Costco. They discuss the overbought conditions and potential resistance levels for these stocks, suggesting that some may experience pullbacks or corrections. The speaker also comments on the market sentiment, noting the potential for a defensive market stance and the importance of watching for support and resistance levels.

25:08

📈 Closing Remarks and Community Invitation

In the closing paragraph, the speaker summarizes the day's market activity and reiterates the significance of Jerome Powell's upcoming speech. They invite viewers to join their live coverage of the event and to share the video with others who might be interested. The speaker also promotes their Money Vest Community, offering a discount for those interested in joining, and emphasizes the benefits of community access, including trade alerts, ideas, and research analysis.

Keywords

💡NASDAQ

NASDAQ is a stock exchange platform known for listing technology and biotechnology companies. It is a central theme in the video as the host discusses a significant selloff leading with the NASDAQ, indicating a substantial decrease in the value of traded shares. The term is repeatedly used to describe market performance and is central to understanding the financial narrative being discussed.

💡Selloff

A selloff refers to the act of investors selling a large number of shares, typically due to a negative outlook on the market or specific stocks. In the video, the host mentions an 'over $400 billion selloff' on the day, highlighting a major market event that significantly impacted stock prices, particularly in the technology sector.

💡Jerome Powell

Jerome Powell is the Chair of the Federal Reserve, the central banking system of the United States. His speeches and decisions greatly influence monetary policy and, by extension, stock market movements. The video emphasizes his upcoming speech at the Jackson Hole economic Symposium, which is expected to have a decisive impact on market direction.

💡Market Update

A market update is a report or analysis that provides information on the current state of the stock market, including trends, significant events, and potential future movements. The video is essentially a market update, discussing the day's trading activities, the performance of specific stocks, and expectations for future market behavior.

💡Earnings

Earnings refer to the profits that a company makes over a specific period. In the context of the video, the host mentions NVIDIA's upcoming earnings report, which is a significant event for investors as it can influence the stock's value and is a reason for market volatility.

💡Volatility

Volatility in finance refers to the degree of variation of a trading price series over time. The video discusses the anticipation of higher volatility due to upcoming events like Jerome Powell's speech and the uncertainty surrounding the U.S. election, which can lead to significant price fluctuations in the market.

💡S&P 500

The S&P 500, or Standard & Poor's 500, is a stock market index that measures the performance of 500 large companies listed on stock exchanges in the United States. It is used as a benchmark for the overall U.S. stock market. The video mentions the S&P 500's performance, indicating a decline, which is a key indicator of the market's health.

💡Dow Jones

The Dow Jones Industrial Average is a stock market index that measures the stock performance of 30 large companies listed on stock exchanges in the United States. It is another benchmark for the U.S. stock market. The video notes that the Dow Jones was also down, reflecting a broader market downturn.

💡Magnificent 7

In the context of the video, 'Magnificent 7' refers to seven major technology stocks—Nvidia, Microsoft, Apple, Tesla, Alphabet, Meta, and Amazon—that have experienced significant selloffs. The host uses this term to highlight the impact these companies have on the market and the notable decline in their stock values.

💡Interest Rates

Interest rates are the cost of borrowing money and are set by central banks like the Federal Reserve. Changes in interest rates can significantly affect the economy and financial markets. The video discusses market expectations for interest rate cuts, which are anticipated to stimulate economic activity and potentially boost the stock market.

💡Contango

Contango is a situation in financial markets where the price of a future contract exceeds the expected underlying price at the contract's delivery date. The video mentions a 'contango level,' indicating the state of the market in terms of expectations for future price movements.

💡RSI (Relative Strength Index)

The Relative Strength Index is a momentum oscillator that measures the speed and change of price movements. It is used to identify overbought or oversold conditions in the trading market. The video uses RSI as a technical indicator to predict potential pullbacks or corrections in stock prices.

Highlights

Over $400 billion selloff on the NASDAQ, with the 'Magnificent 7' stocks shedding off over 300 billion.

Markets are flat for the week so far, with a strong start followed by a slight downturn.

NASDAQ aggressively sold off, down over 1.67%, with a consistent downtrend throughout the day.

S&P 500 and Dow Jones also down, with the S&P 500 dropping almost 90 basis points.

Tomorrow's Jackson Hole economic Symposium and Jerome Powell's speech are pivotal, with potential market impacts.

The speaker plans to sell more puts on Nvidia, with a significant trade worth almost $70,000.

Spreadsheet tracking shows over $431 billion sell-off across all S&P 500 companies.

Nvidia led the losses, down over 3.7% with a $17 billion selloff.

Risk-reward has tilted unfavorably, suggesting caution and potential profit-taking.

Markets have moved up over 9% since August, indicating a need for careful positioning.

The speaker's game plan for the next two weeks includes raising cash for potential market opportunities.

Historical data suggests September could see market pullbacks and higher volatility.

Investors are advised to buy protection against further volatility due to election uncertainty.

Markets are pricing in a 100 basis point cut in 2024 and an additional cut in 2025.

The speaker's valuation analysis indicates the market is within 2% of all-time highs.

Concentration levels show the 'Big 3' and 'Magnificent 7' stocks have significant weight in S&P 500.

Technical analysis suggests potential pullbacks for various stocks, including Apple, Amazon, and Nvidia.

PayPal has outperformed the market, with a 21% increase since the end of July.

The speaker will provide live coverage of Jerome Powell's speech and its market implications.

Transcripts

what's up everyone it's car with money

vest so with over $400 billion selloff

on the day today leading with the NASDAQ

here magnificent 7 stocks shedding off

over 300 billion with tomorrow Jackson

Hole economic Symposium and J Powell

talking have' got lots to unpack in this

market update and for us to get ready

for what is going to be quite a decisive

end to a very indecisive week so far

because the markets are basically flat

on the week so far Monday Tuesday was

very strong Wednesday Thursday a little

bit more flat to slightly down with the

NASDAQ of course selling off quite

aggressively all the day today down over

1.67% consistent downtrend throughout

the course of the day of lower highs and

lower lows of course we had the S&P 500

also down almost 90 basis points with a

Dow Jones over 43 basis points lower or

almost 200 points on the day so we got

lots to unpack and it's really going to

come down to this man and this man alone

for tomorrow at 10:00 a.m. eastern

that's when he's going to start

addressing at the Jackson Hall economic

Symposium and I will be live to cover

the entire speech so make sure that you

tune in at 9:30 pretty much actually a

little bit earlier because we're going

to be live during Market open and then

we're going to go all the way through to

Jackson Hall economic Symposium from

Jerome Powell's press conference at

10:00 a.m. eastern so get ready and let

me know in the comments section down

below what are you expecting for

tomorrow from the markets red or green

what what are your bets for tomorrow I'm

actually planning on selling more puts

on Nvidia actually sold one today and my

plan is to sell five to as many as six

more puts for next week because we do

have earnings coming out for NVIDIA so

it's a pretty big trade that I am taking

worth almost $70,000 so I'll keep

everybody updated on our Discord so

let's get started here this is the

entire sell-off of all the S&P 500

companies on the day over $431 billion

sell off this is a spreadsheet that's

tracking the market caps for all the5

companies in the S&P 500 and if you come

over to our first spreadsheet this $326

billion is for the Magnificent s

companies as you'll notice these are the

seven Nvidia Microsoft Apple Tesla

alphabet meta and Amazon and all of them

selling off quite aggressively with the

exception of actually uh yeah all of

them they were all seven down on the day

with Nvidia of course losing the most

down over 3.7% over $17 billion selloff

63 billion coming off of Microsoft Apple

with a 28 billion then we had um Tesla

shedding over 40 billion another $41

billion coming from Amazon meta and

alphabet were down 8 billion and $26

billion

respectively so again quite an

aggressive selloff this right here is my

yesterday's update uh where I also

mentioned in our Discord I sent out an

update with the U entire video link as

well I basically mentioned that all

right folks the risk reward is

officially tilted back to being a very

unfavorable want to be very clear that

it's not to say that there isn't

anything worth buying or no cash worth

deploying but the markets have moved up

over 9% since the Monday's low from back

in August 5th so a couple Mondays ago

and vix has now moved back to sub5 of

course this was yesterday and we need to

be more careful here considering that

some some profit taking is possible and

I think that's what today was really

like there was a little bit of profit

taking ahead of nvidia's earnings and

tomorrow's Jackson Hole economic

Symposium but there is a game plan and

my game plan for the next two weeks as

I've already mentioned is raising a

little bit more cash getting up to that

20 25% level again to have some buying

power some dry powder ready for if and

when we actually see that market

seasonality once again play through in

the month of September which we'll talk

about in just a minute now coming over

to this spreadsheet this is the Jackson

Hole economic Symposium Playbook and on

the day as you'll notice the markets

were down about 89% so we were down a

little bit over you know 0.89 on the day

so let me just go ahead and put that as

a minus sign there we go and that was

one day prior and tomorrow we'll see

what that number looks like over here

for When J Powell is talking last year

on the day of we were up over half a

percent but we were down over 1.3% one

day prior to Jerome Powell's speech in

2022 1.4% Higher One Day prior to J

Powell's speech and then down over 3.3%

on the day of J Powell's speech speech

however we already have a little bit of

an idea and an understanding on what

exactly he's going to be talking about

again very very data-driven approach

very much optimistic about a potential

rate cut especially after the huge

revision that we saw from the jobs

report from the BLS yesterday of over

88,000 jobs just pretty much

disappearing in the last one year and

going from 2.9 Million jobs last year to

2.1 million with an average monthly job

gain of about 175,000 from the original

uh 240,000 something jobs gain we have

dropped significantly so my expectation

from Powell tomorrow is really going to

be some type of doish and open to the

idea that September is indeed going to

be the month where they actually begin

rate Cuts so this right here 10: a.m.

eastern it's going to be the speech from

chairman Jerome Powell I will be live

like I said again tomorrow Friday 823

August 23rd economic Outlook at the 2024

Jacksonville economic Symposium in

Wyoming so very very important day make

sure that you mark your calendars and

don't miss out and tune in on that live

stream now all also make sure that you

subscribe share this video because it's

going to be a bit of a longer update all

I'm asking is that you drop a like And

subscribe to the channel we're almost at

82,000 subscribers I would really really

appreciate that and again this right

here was the state of the market all

Magnificent Seven stocks selling off

shedding over 326 billion we also did

have a pretty significant sell off in

semiconductors if you take a look intel

was down over 6% uh quite an interesting

sell off then we had uh you know on

semiconductors down over 4.3 lamb

research down over 4.3 Amat Applied

Materials down over 4% AMD was down

almost 4% so asml uh also selling off a

little bit over 3.8 so there was blood

bath across the board for technology and

for semiconductors and pretty much the

entire Market with a little bit of

defensive positioning here from the

markets as well so again this right here

is the extended hours I also want to

mention that we have two more spots left

if you are interested in joining our

money vest Community Link is going to be

down below this is all everything that

you get access to the money vest Discord

the money money money vest website as

well as engaging and and uh interacting

with over 1,000 investors and Traders

along with all of my trade alerts

investing alerts alerts also included so

links going to be down below love to

have you on board there is a 16% annual

discount as well so moving over the

so-called magnificent 7 Mega cap growth

stocks weighed heaviest on the tech

NASDAQ and there doesn't appear to be

any kind of a clear Catalyst as to

what's driving this sell off this was

Scott Ladner Chief investment officer at

Horizon Investments people may be trying

to square positions a little bit ahead

of Nvidia next week or risk out ahead of

us Federal Reserve chairman Jerome

Powell's Jackson Hall economic speech

here and this is everything to expect

from fed share Pal's speech on Friday

and this was from Lou Crandall and a

former fed official and now Chief

Economist at Washington icap he says and

I quote stop me if you've heard this

before they're still data dependent a

dealer broker where they've work for

more than 40 years he expects Powell to

be directionally

unambiguous and uh specifics about how

fast and exactly when will depend on the

data between now and the meeting little

doubt that they will start cutting in

September so uh so that's what that's

what he expects from Geral Powell and

again like I said very very similar to

what we've already learned from previous

fomc meetings so it may or may not be a

market moving event but still the

markets are really anticipating on

potentially higher volatility going into

tomorrow's numbers and volatility

speaking of is set to return amid us

election uncertainty as well so

investors should buy protection now as

volatility seen in August is likely to

return amid closely contested us

election race according to to report

released Tuesday by BCA research

investors should buy protection against

further volatility the shakeup in early

August was a taste of things to come so

this right here is where the

expectations are from the market with

regards to interest rates uh we're still

packed for a 75% probability for a 25

basis point cut in September so

September 18th is when the next meeting

is and then November the markets are

pricing for another uh 25 basis points

um and then of course a 50 basis point

points cut coming in December so all in

all markets are pricing in for a full

100 basis point cut um in 2024 and then

additional 100 bis point cut in 2025

that's what the markets are pricing in

in my opinion that is well I guess there

was it was optimistic prior to the jobs

revision uh I feel like now it's a

little bit more of an appropriate

expectation that unemployment rate is

accelerating higher and it's potentially

going to get worse if rates don't come

down fast enough so in my opinion I

think rates are headed lower we just

still don't know to what extent and by

how much now let me just move over to

some spreadsheets because I think that's

going to be far more important at the

moment so this is where we are with the

current state of the market we're still

well within 2% of its all-time highs for

the S&P 500 so again even after today's

selloff we are well within range of

all-time highs here the Dow Jones also

less than 2% NASDAQ was very much in a

dip up until today when it dropped over

1.6% so we're back in a pullback down

over 5 67% and the Russell 2000 still in

a bit of a correction down over 12 1.5%

from its all-time highs now coming over

to the streaks we have now finally of

course Broken the streak uh we broke the

streak on August 20th when the markets

were down about 20 basis points

yesterday we were up 42 basis points and

on the day today down almost 90 basis

points so once again three back-to-back

flips here from the markets from red

green and now back to red and this right

here is the money vest dashboard which

you guys are so much waiting for 3.84 is

where we are for the money vest index uh

we were as much as 3.96 the prior

reading was 3.96 so very close to four

the vix reading at 17 a half so of

course putting us at almost 50th

percentile again 12.2% is the contango

level we got 71% stocks trading above

their 50-day moving average and about

74% of stocks trading above their 200

moving average the put call ratio is

creeping up something that really want

to address here because we were down to

as low as 7 now we're back up to 0.9 if

this number is going crosses over one uh

we would be you know having we would

have more puts than calls on the market

and that's just the Market's way of

telling us that they are expecting more

potential downside why because they're

hedging with puts to protect against

that downside so right now we're 092 but

we're edging up closer and closer to one

and potentially even higher one is going

to put us at the 60th percentile and

that's going to turn green it's going to

be one of our first metrics to turn

green from a signal standpoint uh just a

little bit under 58 RSI so we're in the

60th percentile for this as well so

we're still more unfavorable on the risk

reward trade-off here so there are no

aggressive buy signals just triggering

off as of yet now coming over to some of

the other readings so if you take a look

at the market so S&P 500 closing in at

5570 so if I plug in that number 5570

our valuation right now is

22.73 based on an earnings multiple or

earnings per share of $245 in

2024 so that puts us at 22.73 and you

know this has been a very very strong

recovery for the market we are now in

the 90th percentile once again which our

meter tells us we are a little bit more

on the expensive side right so the

closer we get to uh 22 23 24 25 uh the

higher of course valuation is going to

be and the more expensive we are from a

fundamental standpoint this is more of a

valuation SL fundamental metric for the

market so that's where we are giving you

a little bit of an overview of this this

metric um now a few more things that I

wanted to address um was it this

spreadsheet yes so this right here is

also the concentration for the market

right so we've got the big three the Mac

7 and the top 10 big three as I'm sure

you know it's Microsoft Nvidia and Apple

Mac 7 is the Magnificent 7 and the top

10 also includes for Berkshire hathway

broadcom um and then just one more

company which I forgot what it was it's

Eli Lily so these are the 10 stocks that

kind of make up the top 10 uh for market

cap for S&P 500 and these are the levels

of concentration so you'll notice a big

3 which is Apple Microsoft and Nvidia

make up for almost 20% right of the S&P

500 so that's just a little bit over

half a% of the S&P 500 makes up for 19%

of the S&P 500 in terms of its

concentration in terms of its weight

magnificent 7 which is just over 1.4% of

S&P 500 makes up for over 31% of the

weight so a third of the S&P 500's

weight is getting pulled by magnificent

7 so again Tech leadership is very very

high and then if you count for top 10

here include for the other three

companies and now we're looking at 35%

concentration this numbers I believe was

down to as well as 28 29% as the tech

continued to sell off in the last couple

weeks but then of course as we have

recovered back up it's back over 30% um

as as we're pretty much you know trading

well within Striking Distance of its

all-time highs okay now coming over to

the markets here before we get further

just want to quickly go over this entire

presentation so again coming over to

this this was the selloff Nvidia over

3.7 Tesla Amazon Google Apple meta

everything selling off so a little bit

of liquidity coming out of Technology

out of semis out of software out of

cloud over to other parts of the market

so once again this is just the Market's

way of telling us that we are getting

defensive this is markets getting

defensive at the moment uh this right

here again is the entire market so if

you come over got cyclicals technology

and com Services three of the big

sectors where Apple Amazon all the

Magnificent 7 pretty much lives selling

off quite aggressively anywhere from 1

to as much as 2% in the last last one

week energy has been the biggest lagard

down over 1.7% however on the day

Market's positioning definitely shifted

back to being more defensive Bitcoin

just a little bit over 60,000 and ether

just over 2600 as well so tomorrow is

going to be quite an interesting day and

finally of course jobless claims also

came out at 232,000 which was 4,000

higher week over week but still a really

really low number at the moment is what

we are seeing uh also do remember

September is right around the corner so

just a couple weeks left for September

to again and this is a chart showing us

all the September going back as far as

2011 uh with an average loss of almost

2% median loss of over 1 and a half% and

the probability for us to see a loss

over

61% here for uh for September and this

is volatility on average volatility has

spent months of September going back as

far as 2011 so 12 13 years worth of data

at almost 25 with a median vix value

over 20 September historically has been

a higher volatility month and also a

month where we have seen the markets

pull back this is just going back as far

as 12 years um and again 53% of the

times it has spent above 20 so again

those are some things those are some

stats for you some food for thought uh

okay coming over to volatility again

down up almost 8% we're kind of creeping

up to as much as 18.6 to as much as 20

so keep a close eye on those levels

we'll continue to watch this very

carefully and we'll send out alerts in

our Discord when there is opportunities

to deploy cash again and when there are

opportunities where the risk reward is

once again becoming more favorable for

us um the money vest index we've already

gone over but like I said this reading

will get updated it was at 3.96 as of

yesterday and crude oil prices continue

to come down at a very strong support

sitting roughly at just under

$73 and that right there is going to be

that level to watch for crude sitting

inside this area of area of rectangle

and of course that area of support at

the moment um and then coming over to

the market so this right here is qq's

now I want to be very clear that we're

well within the trend uh because we

haven't really broken down below this

474 support So speaking of the

technicals uh what you'll notice is this

consistent draw down right so this right

here lower highs and lower lows for the

market we got up to this lower high and

then of course broke out very very

nicely and now we're only seeing a

little bit of a pullback right so if I

just remove everything and just point

out to a small pullback that we're

seeing a small dip that's what that is

after a very very strong consistent

Rally from the nasda St so this is

nothing to be afraid of this is just a

healthy pullback healthy dip is what we

really wanted to see and we're coming

back down to 474 475 as you can see that

after hours we're back over 475 and that

is that area of support that's the green

rectangle that I really want you to

focus on because that is the area of

support and demand for the NASDAQ same

thing is true for the S&P 500 you can

see how perfectly it is just validating

that level so we pushed up and we came

back down to validate this green

rectangle that's where the area of

support or the demand sets for S&P 500

so if I zoom in just a little bit after

of course having such a significant

rally we gapped up a little bit and

dropped over 1.3% intraday coming down

to once again a very very strong area of

support and demand for the market so

tomorrow is going to be the breaking

point tomorrow is the test for the Bulls

whether they can hold this support

whether we can actually see that

validation of that support at 5565 or if

the Bears have the strength to break us

down this level once again and for this

support to once again turn into a bit of

a resistance for the markets again so

again tomorrow we'll find out if that's

going to take place but as it stands

right now very strong support we're

coming back to retest I mean if you come

back take a look this is the exact level

where we have gotten rejected right this

is a level that S&P 500 struggled to

break out of over here back in July this

right here back in at the end of July so

we struggled to break out of that level

and then once we finally did we're

simply coming back to validate this old

resistance as a potential new support so

tomorrow we'll find out if this level is

indeed going to be a support or if the

Bears have enough momentum to the

downside that can really flood us below

that 5565 levels we're like kind of like

five points away but tomorrow's Jerome

Powell speech can really be a big big

big wild card for the market uh coming

over to Apple stock so Apple here uh on

the day uh down a little bit over 83

basis point

why do I feel like I'm missing something

why do I feel like I have a lot of

spreadsheets open and I had something

that I wanted to show you guys uh let me

see streaks not quite there's we've

already gone over the stats let me just

see this we've already gone over I just

want to make sure that I'm not missing

out anything valuations we've covered

this is the market sentiment this is

right here volatility S&P 500 in

September seasonality jobless claims

Market concentrations so I feel like

we've covered everything I feel like we

have um but I don't know why I feel like

I'm missing something anyway if there's

anything I'll comment down below Apple

here a resistance at $236 that is going

to be that next Target as we have

discussed but we are again kind of

pushing higher a little bit more to the

overbought side especially on the 4-Hour

chart if you come take a look again

we're starting to round off a little bit

after this significant rally with the

RSI the magt and the L3 Banker

oscillator all perfectly positioned for

us to see a bit of a pullback and

support level next is going to stay put

down to $27 uh to as low as $196 for

apple as well uh coming over to Amazon

so Amazon here on the day also down a

little bit over 2.2% so definitely

selling off quite aggressively next

support is going to be down to

173 for Amazon with a resistance all the

way up to as much as19 to as much as

$190 for Amazon if you do end up let's

say breaking down below this level next

Target is going to be $166 but same

story on the RSI macd L3 bank or

oscillator everything suggesting for a

bit of a uh correction bit of a small

dip I should say uh that possible after

seeing a very incredible rally for

Amazon so next support is really going

to be down at 173 Tesla getting

absolutely sold off aggressively here

down over

5.6% um and you know as we discussed in

our previous updates that Tesla is well

within its downtrend uh making lower

highs and lower lows so this right here

lower highs lower highs lower highs and

then lower lows lower lows lower lows so

we still well within a downtrend where

Tesla is going to find a very difficult

time breaking out of its certain

resistance levels because we've got so

much Supply we got a huge resistance

sitting right here at 233 massive Supply

sitting at 268 and of course not to

mention a lot of supplies sitting in the

300s and 400s but we've got way way much

time a lot of time to get up to those

levels but at first we're still well

within this downtrend of lower highs and

lower lows and Tesla continues to appear

very very weak at the moment so support

level near term is going to stay put

down to $28 a share for this company

that's exactly one of the reasons why

I've sold coils that are going to print

if Tesla does pull back uh next one on

the list is going to be my big trade for

next week and that is NVIDIA I was

watching this stock very closely today

uh down a little bit over 3.7% for the

right reasons considering how much it's

rallied I think over 40% from its uh

Monday August 5th close 43% uh and it's

now starting to roll over a little bit

again RSI magd L3 Banker oscillator all

suggesting for a potential dip in Nvidia

considering how overbought it was and uh

resistance all the way up to as much as

$ 3940 that's pretty much the all-time

high and support level down to as low as

$96 per share for NVIDIA so that's going

to be that level to keep in mind for

this stock Advan Micro Devices also

rolling over on the day so selling off a

little bit over 3.8% so this right here

is the entire technicals again we broke

out of that resistance coming back to

retest old resistance as a new support

so this is the inside of this green

rectangle or that support uh where it's

coming back down to retest that level

again and resistance is going to be all

the way up to

$185 for Vance Micro Devices as well uh

talking a little bit about PayPal and

PayPal Here continues to do really well

I mean it it's kind of outperformed the

market so I'm happy PayPal has been

outperforming the market so if you come

over to PayPal versus spy not only is it

hitting a 52- we high it's also beating

the S&P 500 take that S&P 500 I mean

this right here is in significant

outperformance of 21% since the end of

July that's actually quite a decent

significant I would say out performance

on PayPal's side with respect to S&P 500

so next Target is going to be at

$677 so this right here is going to be

that next level to watch as a Target

however we are incredibly overbought as

you can see the RSI the mcti the L3

Banker oscillators so similar to S&P and

Nvidia and some of the other companies I

wouldn't be surprised if PayPal also

takes a little bit of a breather right

so comes down uh where the support is

going to stay up at $68 so wouldn't be

surprised to for it to see it come down

and then of course get up to that next

Le level in that next leg up rally here

to $77 that's pretty much going to be my

expectations of the technicals and how

they play out moving forward talking

about Visa still well within a downtrend

so lower highs and lower lows in fact

it's coming up to its lower high over

here uh it's starting to break out of

above its resistance and support level

is going to stay up to

$266 uh but still well within range of

its downtrending channel so this right

here uh consistent lower highs and lower

lows for Visa so next resistance and

Target very very important at $272 for

Visa moving forward talking a little bit

about uh meta platforms and meta here on

the day actually hit a new all-time high

of over $544 but then of course sold off

intraday 60 basis points lower as it

gotten up to its Supply and that

resistance and again bit more on the

overb side as mentioned to us uh in our

previous videos RSI magt L3 Banker

oscillator everything uh getting up to

those levels here and resistance like I

said it's going to stay up at540 support

level down to $450 wouldn't be surprised

to see a little bit of red in meta

platforms as well uh Netflix on the

other hand also hit a new alltime high I

think yesterday uh just down to

$688 um at the moment and this right

here is what Netflix looks like it seems

like I'm having some trouble with my

network there's some Wi-Fi issues here

uh but Netflix $688 $689 so down a

little bit over 1%

and again we discussed how it's getting

up to its resistance it was incredibly

overbought so would not be surprised to

see a little bit of a pullback for

Netflix as well moving forward and then

finally Google and Microsoft I'm just

going to wait a couple minutes if this

thing improves I will open up the charts

but Google and Microsoft also down

anywhere from 1 to 2% respectively and

uh you know I've been picking up both of

those stocks here um because they

haven't really moved all that much right

in the last couple weeks here since

since the Monday August 5th lows Google

and Microsoft were still only up like

High single digits they didn't even

crack above the 10% level um okay take a

look at Netflix here looks like the

Wi-Fi is back so let's see there we go

and resistance as we discussed at $71

again RSI macd L3 Banker oscillator all

of them suggesting for a little bit of a

pullback for Netflix uh and then finally

if you come over to Google uh down a

little bit over 1% so again starting to

sell off trading at support it does sort

of feel a little bit like a bare flag

wouldn't wouldn't surprise me if you do

see a bigger selloff for gole Google as

this could be the poll a flag and and

and a bigger selloff or breakdown uh

getting us down to $153 so that right

there is going to be that next support

level to watch for Google moving forward

and I believe the same could be true for

Microsoft however this is more of a head

and shoulders not so much of a bare flag

breakdown but more like a potential left

shoulder a bigger head and then another

right shoulder with a neckline sitting

right there so a breakdown below that

$390 sub $400 level is possible for

Microsoft um as well and then finally we

come over to end phase which was down a

little bit over 2% on the day so selling

off actually over 3% down at $215 uh and

again this is a stock that's been

consolidating sideways for a really

really long time as you can see that

it's just been trading back and forth in

that range for a really really long time

so resistance is going to stay put right

there at $120 with all the way up to 136

bucks and a support level sitting

roughly $92 a share and then finally if

you come over to Costco pretty much

trading at all-time highs so this right

here very very strong area of resistance

for Costco and uh you know very very

flat and the RSI the magd also

potentially suggesting for a small

pullback possible for Costco but it does

trade at very expensive valuations to

begin with so hope you all enjoy this

video get ready for tomorrow very very

big day we got J Powell on the

microphone and uh I'm sure there's going

to be volatility but we'll be live to

cover all of this on Friday August 23rd

tomorrow at 10: a.m. eastern so tune in

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