Transcript of Wall Street Is Struggling With This… (SP500, Nasdaq, KOSPI)
FX Evolution - Trading Academy
0:00When Wall Street gets confused about a0:01stock market earnings report, you know0:04it's one worth watching, and that's0:05exactly what just happened with JP0:07Morgan. Falling, then rallying, then0:10dropping by the end of the day. So, what0:12exactly does that mean for markets0:14moving forward as one of the most0:15important sectors in the S&P 500 just0:19gave us its first sign of a potential0:21amber canary light. With semiconductors0:24falling over the last couple of0:25sessions, there's clearly something0:27that's happening in hardware as well0:29while the S&P 500 starts to breadth up.0:32That is, more companies are actually now0:34starting to see a rally. So, it's the0:36good, the bad, and the ugly in markets0:38right now, including some kind of ugly0:40stuff going on with oil. But, today we0:43look at stocks, commodities, and cryptos0:45to break it down further and unpack some0:47of the things that could be impacting0:49you over the next couple of sessions.0:51And we've got an inflation report in0:53less than 24 hours. See you guys soon.0:55There's a lot to discuss right now0:57together.1:01Well, welcome back. It's great to have1:02you here, and we have a lot to discuss1:04and unpack in this video. The latest in1:06macro, Wall Street flows, and of course1:08some news that came out over the last 241:11hours that could shape the next couple1:12of months. But, let's kick things off1:14here with the big banks, discuss those,1:16go through some of the data, some of the1:18seasonality things that have happened in1:19the past, and then of course look at the1:21key charts, including the latest in1:23options moves. JP Morgan, I think, is1:26the most important every time whenever1:27we're looking at banks. So, let's start1:29there. And this chart here from Alpha1:31Economy Insights basically shows that JP1:33Morgan, it did okay, up 8% year-on-year,1:36pretty good, but it was still a point1:38three billion dollar miss according to1:40what the street had to say. And this led1:42to some weird moves in the markets. It1:45dropped pre, rallied during the start of1:48the open, and then dropped again,1:50creating a giant red candle by the end1:53of the session. And this means that that1:55street was digesting some information1:57about what they were seeing in the1:58banking sector. And it might actually2:00come back to a chart such as this, the2:0230-year mortgage rates. Now, in our last2:04video, we talked about the idea of2:06whether we're seeing a slowdown here in2:08property. And of course, that means debt2:09creation is starting to drop a little2:12bit. And this is kind of what we're2:14starting to see here in the reports. And2:16remember, the market prices out 12 to 182:18months in front. It's not dumb. It2:20doesn't really price what's happening2:22today. It looks to the future. And this2:25chart here from Mizuho Capital and Tavi2:26Costa over on X2:28basically shows that we've got kind of a2:30runaway inflation problem. And of2:32course, 30-year mortgage problem. But at2:34the same time, take a look at some of2:35these other results from the banks.2:37Goldman Sachs, $5.29 billion,2:41up 29% year-on-year. Citi was up 40%2:45year-on-year. And Wells Fargo, well, it2:48was only 6%. So, there's a differential2:50here, and it depends on the sector and2:53the areas that you're in. Of course,2:54we're most interested in credit cards2:56right now, and really probably home2:58lending. And both of those, well,3:00they're a little bit of a different3:01story to what is absolutely booming,3:04which is everything that we're seeing in3:06more of the markets to do with, you3:08would have to say, trading, equities,3:10that kind of market, indeed. Now, one of3:12the charts that we've been witnessing3:14and looking at recently to do with maybe3:17delinquencies or any types of problems3:19in the market is this Carvana. And the3:21reason we're doing that is we're looking3:22at home builders, construction, Carvana,3:25we're looking at, of course, mortgage3:27debt businesses. And that is that if3:29Wall Street starts to sell these off, is3:31that showing us potentially a market in3:34decline? That is that there's something3:36going wrong with the bottom end of the3:39K-wave. Remember, at the moment, most of3:41the market's being held up by 10% of the3:43population and capex spend coming from3:46AI. But if that changes, could we be3:48looking at potentially a head and3:49shoulders here like Carvana? This is one3:52of those interesting charts and it3:53divides a lot of people because remember3:55this was also the chart that had a lot3:58of bears on it just a few years ago and4:00they got absolutely slaughtered as the4:03markets rallied and rallied and rallied4:05relentlessly into what you would have4:07thought was common sense and that is4:09that people were going to struggle on4:11their car payments in the future. Well,4:13maybe that's starting to catch up. What4:15do you guys think in the comments down4:16below? Let me know. That chart, you4:18know, it's one of those ones I call it4:19Carvana watch and the only reason we're4:21doing it is because I think it's an4:23interesting factor in price. Remember on4:25the channel here, if it's your first4:26time, we do price action, we do data and4:29then of course we end up looking at the4:31flows and that's because we want to do4:32what they're doing not what they're4:34saying. That is we want to observe it4:35and see that type of thing. If that's4:37something that interests you by the way,4:38remember to subscribe and smash that4:40bell icon. It's always awesome to see4:42more people in our excellent amazing4:44community. Let's have a look here at the4:46S&P 500 performance around the next big4:49results. So we just saw banks, they were4:52pretty good I think but still a couple4:54of signs there. We'll see how the price4:55action continues to rotate through but4:58now we've got CPI release which means5:00inflation is potentially going to5:02knock the markets around over the next5:0424 hours. Now Blue Curdic has gone5:06through5:07and looked at the most recent data5:08points for this and actually interesting5:10the prior day return often a little bit5:12negative. The same day that is so that5:15was the day that we just had, the same5:16day as the CPI very mixed in the last5:19kind of 10 reads and then the five-day5:22change a little bit actually negative.5:24You can see here more negatives although5:26some of them are negligible5:28but some have been more negative than5:30positive. Now the positives have been5:31very good. The negatives have been5:34I would say kind of flat the next five5:36days kind of important there. Speaking5:39of other things that are important, the5:40Cosby, the entire daily trading range5:42falls below the 200-day moving average.5:45Now, if you've ever heard of Paul Tudor5:47Jones, which I'm sure most of you have,5:49he has one of those sayings, "Nothing5:50good happens underneath the daily 2005:54moving average." And in this case, yeah,5:56unfortunately, the old KOSPI fell5:58underneath. So, what could this mean6:00moving forward? Well, there's not too6:02many data reads here from Blue Car Deck,6:04but this does go to show that there6:06could be further weakness in the KOSPI6:09market. And we've talked about this a6:10little bit because what took the Korean6:13market up so much was kind of FOMO and6:16hysteria. And we know this in some ways6:18because of the amount of lever that we6:21saw in the markets get unwound very6:23quickly. Remember, there were reports of6:25half a million up to half a million6:27accounts being totally levered out,6:29margin called. Supposedly, there was a6:31million that were in margin call. Like,6:33that's just massive quantities of the6:36population unfortunately stuck in these6:38stocks at the wrong prices. And since6:41that point, we've seen a little bit of6:42relief, but now it's dropped through.6:44And here are the key points where this6:46has happened in the past. And you're6:48going to notice, of course, that there6:50were periods where you saw a bit of6:52stagflation in markets, or there were6:54even horrific areas of market pullbacks.6:57So, 25% only one time7:01were the markets actually bullish over7:03the next 12 months in the KOSPI side. Uh7:06interesting. It will it be an exception?7:08Few people in the comments already do7:10believe so. Speaking of what they're7:13doing, what was going on with the floors7:15and the big dark pools? This chart here7:16from Polycarp coming from volume leaders7:18in terms of the data basically shows7:21that there were some big transactions7:23going through on Qs and Spy. And this7:25will come as no real surprise. We've7:27seen a lot of large transactions at7:30these tops here so far with the Qs and7:32Spy. And we'll continue to track that7:34because, remember, we just saw the7:36number one transaction on this CORU,7:39which is a three times bull ETF. And7:41since then, what happened? We saw a big7:43fall off in the Korean market. Will we7:45get a big rally off this? This is a7:48really the big question because if we7:50lose semiconductors due to, let's say,7:53maybe Chinese memory coming online, all7:56of these types of things cuz these are7:57hardware stocks, then will we start to8:00change the supply demand structure?8:02Remember, everything's constrained right8:04now and if you've tried to go and buy a8:06top-end gaming rig recently, those 5090s8:10guys, if you know what you know, Nvidia8:125090s, woah.8:14They might have been better than stocks.8:16They probably did better actually over8:18the last year than Nvidia stock itself.8:20I should do a chart on that because8:225090s, like last time I checked here in8:24Australia and I think they might have8:25just been potentially discontinued, were8:28trading at like 8 to 9,000 dollars.8:31Um that is that is some nuts stuff cuz8:33they were like 3,000 or something like8:35that, 3 and 1/2 thousand at one point8:36there.8:37So, some massive changes in of course8:40supply demand. Now, in this case, the8:42supply is still constrained, but if that8:45changes, it can change valuations. And I8:47think the market's kind of looking at8:48this. You can see this chart here from8:50Duality Research as we kick off earning8:52season. We're only trading at a forward8:54PE on the markets at around 19 and a8:57bit. Now, that's actually relatively9:00okay compared to what history has shown9:03over time. Have there been cheaper9:04periods? Yeah, I mean, they have been,9:06but um yeah, it's not exactly what you9:08would call an extremely expensive market9:10at like a 23 times or something like9:12that. And that's because the market is9:14already pricing in some form of change,9:18I think, over the next 12 to 18 months.9:20But will the market start to get more9:21scared this earning season or more9:24happy? We're going to see it maybe kick9:26off with TSMC this week. Remember, it's9:28earnings, earnings, earnings, bonds,9:30bonds, bonds, IPOs, IPOs, IPOs. They're9:33the three biggest things that we're9:34looking at this year into 2027. So, can9:38this market continue to last? Well, if9:40you look at the daily or you look at the9:41stats over history since the 1950s,9:44there's not that many markets that make9:46it to 4 years, but we have 2022 to 2026.9:50And in these cases, often markets would9:52go a bit further, taking us into9:54potentially 5 or even 5 and 1/2 years.9:57So, if that happens, you know, what does9:59the price path look like? Well, the10:01average according to Blue Credit here10:03looks like this.10:04Of course, there are other periods where10:06we get a little bit of decline, maybe10:08over the next kind of months, and then10:10we end up rallying. But, yeah, I mean,10:12it's not all bad. I mean, even if you're10:13a bear in markets, you've got to look at10:15it and say, "Well, when markets go10:17further than, you know, people expect,10:19they can hold up for a while." So, some10:22interesting narratives coming in.10:24There's always a case for bulls, there's10:25always a case for bears. I always go10:27with what's the price actually doing at10:29the time. The price is the most10:30important reads. Why it's number one on10:32our list, the data and the flows. Now,10:35let's have a look here at gold. Gold10:37came down to really bad daily sentiment10:40just recently, and MacroCharts was on10:41top of this one, macrocharts.com, guys,10:44and on X. And you'll notice here, look10:46at this, really, really low in terms of10:49where the markets have gone from10:51sentiment perspective. Gold kind of10:53being hated again, but it's going to be10:55around to yield. So, a lot of people10:57think that we've topped in yields, that10:59is, interest rates have peaked, and now11:02it's economic weakness, and that's what11:04people think. But, you know what? We've11:06seen that so many times. What's the11:07price doing? Still higher highs and11:09higher lows for now. So, if that11:11changes, we'll talk about it, but at11:13this stage, you'll see higher highs and11:15higher lows for now. So, we've kicked11:16off earning season, we've got those big11:18banks starting to come through. So far,11:20you'd have to say it was a, I guess you11:23would say a tick with a little bit of11:24caution to the next 12 to 18 months. So,11:27we'll see what the market wants to do11:29with that price-wise. And now, of11:31course, we have more11:33Morgan Stanley, BlackRock, and stuff.11:35And then we have the big one, which is11:37TSM, and that's on Thursday. So, when11:40that comes through, always going to be11:42some volatility. Here is, of course,11:44Earnings Watch's chart shows us what the11:46options market thinks. Only plus minus11:494.6%11:51and that's still huge when you think11:53about market caps for TSM on Thursday.11:56But, yeah, all these banks, they didn't11:58quite move that much. I guess they did12:00in terms of up, down, all around. I12:01mean, JP Morgan was flying all over the12:03place. Uh but, generally speaking, yeah,12:06they're still more 5% and I think as we12:09get into tech, you're going to see some12:10stocks potentially moving12:13hundreds and hundreds of billions of12:15dollars, if not even shaving a trillion12:17off the company, off the entire market12:19cap, just off earnings alone uh when it12:22comes to the general sentiment. Such an12:25important thing. Global capex, this is12:27the one that needs to hold up. This one12:29here from Top Down Charts and Callum12:31Thomas basically shows that, for now,12:33technology is spending. That's leading12:35into, of course, commodities doing12:37better. And just generally, even total12:39ex-tech and ex-commodities is still on12:42the improve. So, as long as you have12:44that, even if you have inflation, the12:46market doesn't care about the economy12:48until it does. So, we've got kind of a12:50GDP that's growing. If you have a GDP12:52that's growing, the tech at the time,12:54the overall energy markets, of course,12:57these are the types of things that do uh12:59potentially pick up, and that's what13:01we've been seeing for 2026 so far. On13:03the flip side, Blue Horseshoe did go13:05through some filings. Nvidia, the13:06highest insider sales uh since pretty13:10much anytime. So, this is mwah, an13:12interesting stat in itself. Let's move13:14from the stock markets and a bit of the13:17commodities over to crypto for a moment.13:19Glassnode here, interesting chart,13:22basically showing that price has now13:24spent most of its year really below the13:27ETF cost base, is now just slightly13:31above that. And we've been, of course,13:32dialing in on the smaller time frames,13:34which we'll do on Bitcoin very, very13:36soon again. And if you are a fan of13:38having, here's having tracker over on X,13:41and you'll notice that we're a little13:43bit ahead of schedule for a normal13:44having event. But at the moment, the13:46markets are still rallying off what has13:49been the general sentiment in a while.13:52So, guys, if you've been enjoying all of13:54the content that we're producing here at13:56FXE Trading Academy, then why not jump13:58on over to our website and get a couple13:59of free resources. You can also sign up14:01for our newsletter as well, and you can14:04just type in fxevolution.com/blog14:06and check out some of the most recent14:08reports. It's always good to see you,14:11and the best thing is that I'm always14:13sharing a little bit extra in these14:15newsletters. So, it's one chart, or a14:17couple of charts usually, market lesson,14:19and of course a story. And I always14:21think we learn well off stories. So,14:23it's awesome to share some of my14:25experience in the field, which comes14:26from over 17 years, both on the14:28institutional side and retail side.14:30Uh I really do love it. So, great to14:32have you on the newsletters, guys. Pin14:34comment down below as well today if you14:36want to follow that. SpaceX, let's take14:38a look here at the market. Starting off,14:40we follow SpaceX. We will be bringing14:42the options levels to SpaceX moving14:45forward as well. And one of the reasons14:47is because, of course, SpaceX hit that14:49resistance over here,14:51and it's selling off a little bit. But14:53also, it's the IPO that matters, because14:55it's 2.1 true 2.1 2 trillion dollars.15:00And that basically means that it pushes15:02the market round, just like we've got15:04reports now that Apple is about to get15:06to the actually hit 5 trillion dollars,15:08I think. You know, these are just15:10incredible numbers. Remember when we15:11said 1 trillion was a lot? Well, now15:13we've got 5 trillion. It's 4.9815:16trillion. So, it didn't manage to get15:18that 5 trillion today in terms of the15:20close, but still, these markets still15:22holding up. Magnificent Seven in general15:24is the market at the moment. This thing15:26is pulling everything with it. And the15:28reason you can kind of tell that is if15:30you look at the mags versus spy, this15:32combo that we've been following now for15:34weeks and weeks and weeks in terms of15:35observing it, this has been showing us15:38that kind of market movement. We can15:40also see here even stocks like Microsoft15:43turned dull the other day, started15:45rallying, and they've been pulling15:47everything along. I mean, how big is15:49Microsoft now in terms of market cap? 415:51trillion, 5 trillion, 6 trillion, why15:53not just 20 million trillion guys in15:562026? It doesn't matter. We just got big15:58numbers. Q's versus spy, the market has16:01started to show some signs of16:03broadening, and we do know that the16:04market's also attacking, of course, some16:06sectors, which we'll look at in a16:07moment, namely semiconductors. Why?16:10Well, I think it's a supply-demand16:12constraint concept, and it also could be16:14a sign of potential capex waning as16:17well. So, you've got to keep that in the16:19back of your mind. This earnings, every16:20earnings from now on, so important. But16:23yeah, the Q's weakening to the spy,16:25which shows the broadening is happening,16:27and we can see that a little bit here16:29when we look at S&P excluding IT and16:32communication services. It's been a bit16:34of a kind of ramp recently. We can also16:37see it when we look at percentage stocks16:38above the 20, again, more stocks kind of16:41improved. Percentage of stocks above the16:4350, again, a broadening pattern.16:46Now, let's talk for a moment here about16:48JP Morgan. I want to go to a 4-hour16:50chart. What is going on here? Did I tell16:52you what? They didn't know what they16:53were doing, the boffins, hey? Look at16:55this. Look at that massive move. So, we16:57had a 6.88%16:59move here on JP Morgan, and I always17:01like to look at a stock, go to the17:04general thought process of what the17:06markets are actually telling us. And I17:08mean, if it closes with this big red17:10candle, it's kind of saying, "Well, we17:11tried to rally, but we didn't really17:12like what we were seeing." This is, of17:15course, off the back of what is already17:17being a correction style market for JP17:20Morgan. So, that pulls us to what did17:22KRE do? What are the regional banks17:24doing? Because of course, these are the17:26weaker banks. Well, it's a similar17:28thing. We ended up down on the session.17:30We saw of course, Wells Fargo also17:32weaken a little bit. And you're going to17:34be watching things like this on the17:36channel. We're going to be looking at17:37XLF to spy. Do we end up getting a lower17:40low? That is the financials continue to17:42weaken. It doesn't have to be our17:44opinion. Someone on Wall Street has a17:47lot more information than us. And what's17:49occurring is they're going to push price17:51around. And it can be one of those kind17:53of warning signals that we need to look17:55at along with of course, semiconductors.17:58So, you can see here semis fell and18:01they've fallen about 10% from the top.18:03We got to about a 75 fib.18:06And we've seen a bit of rejection from18:07there. And then of course, at the same18:09time, if we go down here and we have a18:12look at some of the other markets, like18:15the Kospi, we saw that one fall off a18:17cliff yesterday. And actually got car18:20limited, which basically means it will18:22hit limit car, which is effectively18:24getting stopped because it was too18:26volatile for its own good. Now, this is18:29completely fallen off. And if it keeps18:31doing that, we get strong weekly closure18:33downs and those types of things. Notice18:35as well, the weekly 50-moving average18:37here holding it up for now. Then that's18:39showing us that there's a problem in the18:42hardware side. And that could just be18:44supply-demand. That could be what's18:46happened also in the previous tech runs.18:50So, you think of the 1920s, you think of18:52the 1990s. The similarity really to me18:55is not so much whether it's a bubble in18:57the same types of valuation or18:59something. I don't really know about19:00that. But the big thing here is are we19:02seeing a similar build with no regard19:06for necessarily even whether you need19:07them or not. Everyone just keeps telling19:09us about how much compute we need. But19:11what if the compute becomes really19:13cheap? What if also they overbuild and19:15we end up not needing as much? We're19:17already starting to see some really good19:19models that don't necessarily need as19:21much. And people are also running19:23internal models. So, so many things, so19:26many moving parts here to the current19:28run window that we're on in that aspect.19:30Let's have a look now at the 20-year19:31yield. You can see it's getting closer19:33to that all-important daily 20. So, this19:35is of course the drop-off in19:37overall inflation expectations. Next 2419:40hours is going to be important for this.19:42We've seen blue card excited at the19:43start of today's video, but what will19:45ultimately happen here? What we'll find19:47out, I think relatively soon. And this19:50is of course impacting Treasuries, where19:53we're seeing a bit of a spike up in19:54Treasuries did another 0.4% as they've19:58rallied higher off that 76 base. So,20:01funny how that will change, but look at20:03the daily 20. It's a pretty important20:05one. So many reversions to the mean. So,20:08we'll be seeing what happens there.20:10Carvana watch, as we mentioned before,20:12this particular stock just kind of shows20:15us whether there's a weakness20:17or not in this sector, and we bring20:18these up from time to time. And it's20:20just kind of like the other day we20:21talked about Coca-Cola, and Coca-Cola20:24suddenly got a rotation into it. Well,20:26just so happens, by the way guys, have a20:28look here at the staples. Staples flew20:30just like utilities, and of course that20:32was the other sector we were looking at.20:33Move? Well, it's kind of on the move.20:36We're watching of course20:39bonds very, very close lead. We need to20:42check out what they're doing. Didn't20:44really see too much movement here in the20:46overall BoFa option adjusted spread. So,20:49we didn't see too much weakness there.20:51And as we mentioned, KRE, you know,20:53we're right at that support still20:55leading off those big earnings results.20:58Now, on the flip of this, what's been20:59doing really well? Well, it's been21:02energy. And you can see here XLE21:04absolutely flying still.21:06People forget about this one. You know,21:08we've talked about it consistently.21:09We're in an inflation-based boom at the21:12moment and that is leading into XLE21:14being higher, which is kind of bad for21:16us if we're trying to fill fuel, but at21:18the same time we're seeing it in21:19different charts. If you're looking at21:20WTI, you're not going to see it. If21:22you're looking at UK oil, wow, look at21:24that. And if we're looking at future21:26oil, you know, the bad news is here, if21:29the markets are right, we're looking at21:30longer and longer and longer dated.21:32Let's just go with 2028. 77. Look at21:35this thing. It's absolutely skyrocketing21:37since September. So, this is telling us21:39that we have higher for longer oil21:41prices and we've got big problems21:44potentially going to hit us in food,21:46that's going to hit us in everything in21:47the supply constraint uh strain. So,21:50this is going to be a big big big kind21:52of story, I think, moving forward. And21:54of course, the crack, you can see here21:57oil refineries, as we've been talking21:58about now for what seems like an eon,22:01they just keep going up and there's big22:03transactions up here, too. Look at these22:05volumes. They're massive. So, the22:07markets, yeah, it's still a bit of a22:10hidden sector and it's not just mag22:11seven. It seems to be that 3% of the22:14S&P, which is22:15energy markets, I guess. IWM, we are22:18sitting at the exact same support that22:21we were. So, the big bank earnings22:23didn't really encourage the market to22:25go, yes, I like this. It is a selective22:27breadth of high-quality businesses. And22:30this is because, I think, the bonds22:32market's waking up and we're seeing it22:34in triple-C grade junk bond. Junk bonds22:38are not the same as they were. We're22:40seeing absolute junk starting to rally22:43up in terms of they're demanding higher22:45and higher and higher interest payments22:47and that's putting a lot of pressure on22:49those zombie businesses that we see a22:51lot in the smaller caps. What about22:53gold? No changes to gold, guys. It's22:56just basically sitting at the same level22:58as it was last 24 hours and therefore,23:01you know, we're looking at copper, we're23:02looking at silver. They're all kind of23:04similar. Like copper still holding up.23:06Silver, well, it's just it dropped and23:09it's kind of just sitting around. I23:11don't think silver has particularly a23:13very strong like kind of technical chart23:15on it. Still lower lows and lower highs23:17for now. But it did have that number one23:19transaction the other day in SIVR. So,23:22we'll see what ends up going from there.23:25Dollar Index, a little bit of weakness23:26here. Okay, so Dollar Index actually23:29showed its first sign of are we seeing a23:32bit of a top? We've got here higher23:34highs still coming through. Do we make a23:36lower low? Watching 1016 quite closely.23:40Markets still have been very resilient23:42in the US dollar. But yeah, first sign23:44of a little bit of weakness there coming23:46through last 24 hours. There's the Cosby23:48at the time of this recording. So, you23:49can see it's sitting in between.23:52It's going to be a very interesting23:53chart that one to continue to look at.23:56And of course, if we're looking at just23:57in general tech market, look at this.23:59Still holding up really nicely in24:01comparison to the semiconductors and IGV24:05software still holding up very, very24:07nicely as well. So, it's really been a24:10selective market. The market is picking24:13certain stocks. It's actually a stock24:14picker's delight and maybe a nightmare24:16for some other people that are in that I24:18guess the wrong side of things because24:20it is weak in the weakness is real and24:23the strength is real depending on the24:25part of the market you're in. What about24:27the Qs? Well, they're still holding up.24:28There's no lower low here. We'll update24:30the options levels as over the next 2424:33hours. So, we'll get those for you guys.24:35But um we're still hitting above the24:36higher low and you can see here the spy24:39is similar. It's just kind of doing a24:40little what we call a pullback in time24:43at the moment at those all-time highs.24:46So, it doesn't exactly look like a24:47weakened market. You know, it's still24:48higher highs and higher lows generally.24:50I bit, what's going on in Bitcoin ETF?24:53Not much. Still sitting around. And24:55that's because of course Bitcoin itself24:58is holding onto that volume node. So,25:01came down, spiked up, hasn't made a25:03higher high yet. Uh and of course, the25:05big level everyone will be watching is25:07up here at 87,000 plus. Flows slightly25:11more positive than they were.25:13The market has improved slightly for25:16Bitcoin. And if we go to Ethereum just25:18to see the difference, it's also25:20improved a little bit. Levels to watch25:22are going to be in this 260025:25kind of area. Do we get like a little25:27double bottom coming off that big volume25:30node on this? They actually look very25:31similar, Bitcoin and Ethereum. So, it's25:34not all bad. Now, the next 24 hours,25:36what are you going to be watching? Well,25:37it's all down to that big big thing,25:40which is going to be of course, yes, you25:42guessed it. It's going to be CPI. And25:45scrolling back here, I was getting a25:46little bit ahead of myself there, but25:48you can see that we've got Thursday, and25:51we have here core PPI, and Wednesday's25:55the CPI. So, it's PPI25:58after this time around, which is normal.26:00This is the number. The expectations are26:03there is going to be some inflation26:05there, but the core CPI's expected to26:07drop to point two. So, mm Again, the26:11markets themselves, they do what they26:13feel like. We're at all-time highs on26:16indices. So, you know, these are points26:18where often markets will start to trap26:22equity, and the trap becomes the26:25interesting component in price action.26:27We'll have a full report on that.26:29So guys, to summarize today, what did we26:30see? Well, the markets themselves have26:33really kind of gone to that point where26:36I guess you're looking at banks that26:38have done relatively well, if not26:40amazingly, depending on which bank it26:41is. The ones that are weak, so the Wells26:44Fargo, often the weaker bank, that has26:46been weak. And we're seeing some26:48slowdown of course housing loans. So,26:51that's a big thing for us to watch.26:53Price action will ultimately be the most26:55important there, but 12 to 18 months26:57off, you know, that's where the market26:59is looking. So, how did they take it? We27:01can see the boffins on Wall Street27:02didn't really know what to do because27:04they were down, they were up, they were27:05all around on JP Morgan, and they were27:07getting a little confused. And when that27:09happens, I think price action the next27:11coming days and weeks becomes one of the27:13most important things to check out. If27:15you want to see some more things that we27:16do, remember check the links in the27:18description down below. Have a wonderful27:20day. Thank you so much for watching the27:21video, and I'll see you next time. Bye27:23for now.
5,359 words · 764 lines
