STOCKS SURGE, OIL FALLS!!! (Monday 06/15) Stock Market Analysis

[00:00:00] Speaker 1: Blue cloud trading through the night. Carl, thanks. Welcome to the Halftime Report. I'm Scott Wapner, front and center this hour. Higher stocks. We discuss and debate what to do with your money if the war really is coming to a close now. Joining me for the hour today, Joe Terranova, Steve Weiss, Rob Siechen. We'll take you to the markets. Obviously, have a pretty strong day developing here at 12 noon. We're nicely up. NASDAQ's up about 3%, so a huge rebound in the tech trade. NASDAQ is only 2% off of its record high with the rally we've seen. The S&P is only about two-thirds of a percent from its own high. What do we do now? [00:00:40] Speaker 2: Well, last Tuesday through Thursday, we were discussing the defensive nature of the market. And was something bigger unfolding? Were we at an inflection point? Had we seen this parabolic move in technology? Was that the alarm signal that the market had reached a high for the year? And very quickly, we've recovered from that. Let's keep in mind, we've recovered from Oracle's earnings. We flawlessly executed this SpaceX IPO on Friday. You have the news this weekend as it relates to energy. Listen, the energy story, people that have invested in energy, the XLE, since March 1st, you're basically unchanged. And I think what that's going to do is that's going to push so much capital into where the earnings growth is, which is technology itself. So I think what's unfolding right now in front of our very eyes is you had a really significant correction in technology. And I think capital is going to go right back into that sector. I think it's going right back into the momentum factor itself. And I think you want to ride along with it because I don't think anything's going to obstruct it like the Fed meeting on Wednesday. [00:01:45] Speaker 1: So why, so are we all good now if this framework actually turns into a signing and then we can actually see text and, you know, just see what the substance of all of this is? Mike Wilson of Morgan Stanley says bull market's intact. Their conviction in it is still intact. But Spoke says 76.20 is a level to watch today. So some of the moves that you put on today suggest that, yes, you think we're kind of back to where we were. You bought more Micron and you bought Broadcom. Yep, I did. [00:02:22] Speaker 3: I brought Broadcom back. As you recall, I bought it on the day that it sold off on earnings, which I didn't think was the right move for the stock. I got stopped out pretty quickly. The market was challenged at that point. And I actually got a better price now. So I'd say this is an intermediate trade. The fundamentals look good. The stock's not expensive. It's been expensive for so long. But if you look for next year's earnings, it's not. I add to Micron because I believe that Trump was looking for an off-ramp. The details were sketchy. They're still sketchy. We just don't know. But it doesn't matter. It could be the worst deal in history. Market only wants surety that a deal, that war is coming to an end. [00:03:10] Speaker 1: The market doesn't, you're very right. I mean, the market doesn't care whether, you know, this deal or how different it is. Is it better? Is it worse than the Obama around? The market doesn't care. It doesn't care about any details. The market wants to see the straight open. Exactly. Oil down. Yeah. And get back to business of leaning into the strong earnings and a still really resilient economy. Is that correct? [00:03:34] Speaker 3: Exactly. So that's my point. So because of that, and I add Micron, my position in Micron, it's my biggest position. But I added to it because of the beta. So this stock has been trading up and down 100 points a day based upon what the news flow is. So I thought I'd capture some of that. But I said I already had a big position. I also added to Dick's. Dick's is the only stock that's down today. But Dick's has navigated inflation well. It's navigated consumer sentiment. It's the right time to own the stock here. And it's cheap. So I'm bullish, you know, even though there is a real risk that the Iranians don't show up. Of course. There's always a risk. [00:04:16] Speaker 1: I mean, UBS notes flare-ups and these tensions could still lead, Rob, to increased volatility. Nobody is naive to that. But as I said, the substance of the deal, the market doesn't really care. So that's probably why Deutsche Bank looks and says, you know, tech received record inflows last week amidst the sell-off. Why? Because investors are looking beyond all of this. Show me a signed deal. Let us know the straights open. Let us continue to see oil move lower. And we can take that risk off the table, at least in the near term. And we'll just get back to business on the sector that is showing the largest amount of earnings growth, arguably, that we've ever seen. [00:05:07] Speaker 4: I mean, everybody said it perfectly. And, oh, by the way, this couldn't have come at a better time because it sets the table for Kevin Warsh and what he's going to be doing in his first Fed meeting. And I think, you know, outside the volatility around the deal, which there will certainly be some noise, I'm sure, given what we've seen leading up to this, there's seasonal volatility. And you have to expect some of that. And I think we are using that because of what you said, the strong earnings story, which continues to increase, to build positions. We've done that in semis and continue to do that across the board. I think a couple of things you can point to that are really good right now is, one, credit is confirming this. High yield spreads have come in quite a bit. And the single most encouraging development is just breadth, the breadth of the market. The Equal Weight Index made a new high before the Cap Weighted Index. And non-AI stocks have finally turned positive. So I think this is all good news. And it suggests, at least for the near term, risk on. One thing that I don't like is everybody's starting to get on that side of the boat. Positioning doesn't indicate that we're there yet. But, you know, the more we see this, the more likely we're all to be lopsided a little bit. [00:06:29] Speaker 1: So, Joe, in terms of what to sort of continue doing, you know, UBS, and you guys mentioned Warsh in the first meeting of his tenure coming this week. That, you know, unless the Fed signals the possibility of a legit hiking regime, outcome, whatever, that you want to stay with momentum. A hundred percent. That's the only thing that's going to really upset this. And the chances of that happening, I still believe, are almost slim and none. You may continue to hear other Fed speakers unless Warsh changes the whole dynamic in that regard, which is a distinct possibility anyway. They may come out, you know, unless they're muzzled and still talk about, well, we might have to hike. It could be on the table, blah, blah, blah. But you obviously know Warsh isn't going to be the one at the front of the parade. So why wouldn't you stay with momentum, given everything that we've already said here? [00:07:34] Speaker 2: Stay with momentum. I think the market will be able to price out this December rate hike that the market is pricing in for whatever reason. That'll be another catalyst. That is coming out. You could bookmark this conversation in the next 10 seconds we're about to have. Kev, make sure you get this. I think we are close to the high for bond yields. I don't see bond yields moving very much higher. That's another catalyst for the market. [00:08:03] Speaker 1: You're telling our executive producer to make sure he hears you so that if it is, in fact, you'll get the credit that you deserve. Is that what that was about? [00:08:12] Speaker 2: No, you're going to come back to me for sure. There goes my earpiece. You're going to come back to me for sure and, you know, challenge me on that. But I think the high is in for bond yields. I also think staying with the momentum factor, very clearly you had a grand opportunity last week. I love your trade in Micron. Micron, from June 3rd to June 5th, it pulled back 20%. You're coming up on earnings. This is a company that trades at 46 times. It has 196% revenue growth. And their inventory is sold out over the next 18 months. So the momentum factor is identified by the semi-trade. It's identified by the hard disk drive. It's identified by the memory stocks. It's not the software component of technology. It's the very essence of what technology is. And the blessing of last week is you had a significant pullback. Look at the MAG-7, the pullback that you had there, whether it was Meta or Amazon or Alphabet, significant pullback. That gives you a grand opportunity. And I think right now you're seeing the resurgence of the momentum factor. And it retains its leadership role. [00:09:18] Speaker 1: Okay, Micron targets a $1,500 today from $660 at TD Cowan. They're still big believers. You obviously can see Micron. [00:09:30] Speaker 2: The 12-month price target for this stock is $928. So the analyst community, Scott, is not catching up to what price is doing. And that's what the momentum factor generally does. It basically exceeds all the expectations of the analyst community and forces them at a certain point to play the catch-up game. [00:09:53] Speaker 1: And they ultimately will. Western Dig target to $650. Morgan Stanley, one of their most favored overweights is WDC. Stock's at $642. And they just go to $650. So you own that name as well. [00:10:07] Speaker 2: Absolutely. And if you think fundamentally, what's the reasoning behind it? Hard disk drives, storage. Storage is so incredibly important right now as it relates to AI inference and training. You need more and more storage. That's why it's about Western Digital. We own that. You could also make a good argument based on the performance for Seagate Technologies. What? [00:10:28] Speaker 1: Okay, Rob, here's one for you. If we're all going to continue to just lean in on the tech trade again, and Joe points to the correction in some respects or just pullbacks that we've had in mega caps, between, since everybody here owns Microsoft and Meta, between those two, okay, they're both off almost identically from their 52-week highs. Microsoft is almost, we'll call it 30%. Meta is 29% off of its 52-week high. They're the largest decliners off their record highs of any of the other mega cap technology-related names. Which one of those two would you add to if you could only add to one? Which would it be, Microsoft or Meta? [00:11:14] Speaker 4: It'd be Microsoft. But let me tell you what the whole market rests on one thing, and that's his virtuous AI CapEx cycle, Scott. The hyperscalers earn, they spend on CapEx. Semi-earnings soar. AI Labs scale revenue. Hyperscaler stakes get marked up because of the performance of their investments. Everyone reports strong earnings. And the loan casualty in all that is hyperscaler free cash flow because they're all chasing this arms, in this arms race to build what is necessary to compete kind of going forward. [00:11:54] Speaker 1: And the market with those that... I want you to make... [00:11:58] Speaker 4: I think Microsoft's going to be able to monetize that... Sorry, I can't hear you. We're talking over one another. But the reality of it is I think Microsoft's going to be able to monetize this more quickly, and there's more belief in Microsoft being able to monetize their AI quickly. [00:12:18] Speaker 3: I'll take the other side of that. I'll take the other side of that. Okay. Actually, Meta was another one I was going to add to last week. Shoulda, woulda, coulda, didn't, and here it is. I have a big enough position in it. But I'm really unsure what Microsoft's AI strategy is, what their new product strategy is, as well as what the risk is to their subscription base as you get more products that come out there as AI really comes. I used to believe they were number one beneficiary for AI. I'm not so sure. Whereas you take Meta, who's had this uncanny ability to really come out with new products, et cetera. Now, the one issue, of course, with Meta, and there's more than one, is in the UK today, they did away with social media for everybody under 16. There are a lot of Meta users, you know, through Instagram, et cetera, there, and if that expands to other countries, and I believe it will, including possibly to the U.S., then obviously you can hit part of their advertising revenue. But overall, I do believe that they're doing what they should be doing, which is really spending on AI because you have this limited window to keep and to grow their lead over all the others. So that's why I take Meta. [00:13:37] Speaker 2: Both names are set. Both names are down for the year. Here's why I believe Steve could be right faster than potentially Rob could. They ultimately could both be right because each of these stocks are down significantly, and they're going to benefit from a lot of inflows towards the MAG-7, a lot of index buying. But for Meta, you mentioned the spending. That's a quick fix for me. If we get the ability to regain confidence in management that they're not going to overspend, and if I could trust them with their spending, then I could resolve much faster that Meta could continue to appreciate. Microsoft, there are more challenges fundamentally as it relates to the potential cannibalization that's occurring from AI. [00:14:21] Speaker 1: Let's look at Apple real quick because now that the dust has settled post-WWDC, I'm wondering what we think about that, too. And you've been the one that's been accumulating it personally. Yes, I have. So, you know, you have a fair amount riding on those purchases, right? Because you're buying it consistently on the way up into WWDC. It has the upset really afterwards. Now what? [00:14:50] Speaker 2: So, biggest position next to, obviously, Joe T. I think, as I said to you last week while you were out at the developers' conference, that I think the stock gets the benefit of the doubt. I think they did just enough to keep those interested in what their AI strategy ultimately might be. Was it tangible? No. Was it definitive? No, it wasn't. There was a vagueness to it. But there's enough there to keep you interested and to understand that if you've bet against this stock in the last several years, you have been on the wrong side of that trade. And I don't want to be on the wrong side of that trade. So I think the market's going to continue to do what it's done over the last two years, give it the benefit of the doubt, and also understand this is not a company that's spending a significant amount of capital chasing the AI story and the tangibility of putting something in the consumer's hand. They'll get there eventually. Will the consumer find it to be the best product ultimately against everything else? I'm not so sure that that'll be the case. But up until that moment, I think the stock continues to move higher. [00:15:59] Speaker 1: Let's take a look at SpaceX today. Certainly worth checking following the debut on Friday. Elon Musk posting on Twitter, I think SpaceX might be able to reach approximately a trillion revenue in 2030. So stock is obviously having a pretty good post-IPO reaction. It's up another 10% today, $177. Evercore today says of the IPO, like Netscape 30 years ago could catalyze, quote, dream big FOMO and the next leg of the bull market. Dan Ives, Wedbush says the reactions are positive for broader tech and the AI revolution names. Anybody, takers on SpaceX now, how do you think about it? [00:16:41] Speaker 3: Yeah, you know, I'll probably, I was going to buy it this morning, I was going to buy it Friday. I think I'll probably buy it because you've already solved the valuation issue, which is that the market says it doesn't care on valuation. It only cares on what the dream is going forward and what that means. So Musk, look, let's face it, he's a genius, he's accomplished a lot. He has people continuing to believe in the Tesla valuation, which is also extremely high despite declining fundamentals. So why not take a bet on SpaceX where they clearly have a major lead over so many others, over all others, both in what they're doing in space, what they're doing with Starlink. So look, so I just think you have to hold your nose, suspend valuation. Do I think as predominantly a GARP or a value investor or a growth investor, which I'm all of, I put them all together, because growth has a different meaning, value has a different meaning in this market? Yeah, you suspend belief and you just say, this is a bet, pure and simple, on Elon Musk, what he's done so far with his company over 20 years, and what he can do going forward. So I think you buy it now, I think the next stop would probably be $200, and then you can reassess. But for me, it's a trading stock. It's not a hold forever. [00:18:00] Speaker 1: What about for you, Rob? So you've owned it privately, obviously, but what happens now? [00:18:05] Speaker 4: Yeah, I think long term, this is the most unreplicable asset in the public markets. Short term, it's very engineered. Everything holding this up for the next month is mechanical. Underwriters, scarcity, index inclusion. The fundamentals kind of get their vote later, Scott, when the underwriters lockup comes off. So I'm going to agree with Steve that this was a well-engineered kind of IPO. I'm very happy that we were an owner, both privately and on the public offering. Long term, I think two things are going to really support this stock. Their costs are collapsing, but they don't have to pass those costs on to their customers. When cost goes down and prices stay up, SpaceX is the winner. They capture the spread. And so I think margins are meaningfully going to improve in what they've built out. The question is, there's a lot of parts to this business. And I think one of the most important parts is the enterprise AI. That is not getting a lot of attention just yet. And that was a big part of how they valued this business. But, you know, this is not something we would own in our core portfolios because of how it's valued based on sales. But we own it privately. We own it in a lot of our clients' brokerage accounts. And I have no intent on selling this for them. I think this is an incredibly innovative company. [00:19:33] Speaker 1: I want to go back to something that you said, though, at the outset. You know, Weiss makes the case you can buy it here. You said, well, we agree with Weiss, but then, you know, everything taking place with the stock right now, as I think you used the word mechanical, right? Underwriters and whatever, and you're going to have lockups and all of that. Do you agree with him that if you're watching the program today that you should feel comfortable buying the stock here? Or would you wait until some of the – let me finish for a second, just please. Would you wait until some of the, you know, mechanical aspects of it are gone, the lockups have expired, just see sort of where it kind of settles out and maybe matches up better with its fundamentals? You know, how would you judge all of that? [00:20:20] Speaker 4: So, personally, I wouldn't chase here. I would – and most clients can't do anything because they're locked up. I certainly hope that everybody that's involved in the offering continues to do what they're supposed to and realize these are a little bit long-tailed things. Some of these lockups don't come off for quite some time. So, listen, if it retraced back towards the IPO, I'd certainly be a buyer. But I don't know that it's going to, frankly, because of all the support that it has. In addition, I think we've got a unique person in the leadership seat here. There's almost an evangelistic following of him, and momentum is the most powerful force in the market right now. And can you argue that there's another stock that has more momentum right now than this one? You know, it's tough. So, I'm not chasing it because we're in. Okay? However, I do think that, you know, you might get a chance at some point in the future to be a better buyer, and I would likely be a buyer. [00:21:24] Speaker 3: Let me give you another aspect, too, if I could. So, first of all, it's a speculative trade, obviously, because of what it's done. But keep in mind that Morgan Stanley, who's stabilized, they traded in the market afterwards, and Goldman Sachs have so much riding on this, right? They want the stock to continue to do well to support other mandates they get. They're the only two that could have done the job they've done. In particular, Goldman did the book running, you know, really the one on the left that placed the shares. So, this leads to so many other opportunities, which is also why I'm looking at, you know, which PE firm I want to invest in. It's likely going to be Apollo, but it could also be others. And what I'm looking at, who's got the biggest tech exposure that's looking to come to the market in their pipeline? So, that's going to be the play, both in private equity. Goldman has already done well, you know, and I think it'll continue to do well. This means more for their business. This was so important to so many other players, aside from just SpaceX. [00:22:32] Speaker 2: If you're using a calculator and a pencil to try and figure out what to do with this stock, good luck. That's not what you're going to be doing. OK, so this is about you buying the track record of Elon Musk. And not very many people are going to bet against it. As far as buying the stock here, I can't tell you to do that. I'm educating myself. I'm watching it. What's the bid offer spread? What does that look like? What does the intraday volatility look like? I don't think we have options yet. I think they come out at some point this week. What's the effect of the options market, ultimately, when it comes out? I think the bigger story is I was told the boogeyman was coming last week with all these IPOs and all this new supply and all this new issuance that we're seeing from the hyperscalers. Well, guess what? That didn't happen. Scott, this went on flawlessly. [00:23:18] Speaker 1: Well, not by people in the know. I mean, you know, those that we had asked about that almost to a person had said there's not going to be an issue with absorbing all of the supply coming on the market. There's just not. And there wasn't. [00:23:34] Speaker 2: There wasn't. And I think what we're going to find out is that sovereign wealth funds have been the marginal buyer of the Mag 7 over the last 12 to 18 months. And I think they showed up in force for this IPO as well. [00:23:46] Speaker 3: The only place it showed up was in Rocket Lab, for example, which had been already trading down, but went from 140, 145 down to almost par. [00:23:55] Speaker 1: Oh, well, a lot of the other names within this, the Orbit. Exactly. Pun intended. Sold off. [00:24:02] Speaker 3: Yeah, because they're saying, which do I want to own here? Right. I want to own SpaceX. I didn't have an opportunity before. I want to own it now. [00:24:09] Speaker 1: All right. Let's squeeze in a break. Bob Siege in Final Trade. What? [00:24:13] Speaker 4: Lamb Research. I agree with Joe. Momentum's the most powerful factor. This is one of the best performers in the group. Riding that memory chip. The man with Google. [00:24:23] Speaker 3: Google, look, I think Goldman's eating through the market offering. Interactive brokers in the 3 o'clock show. That's hot. [00:24:29] Speaker 1: Yeah. Don't miss it. I'll see you then. Guys, thanks so much. Welcome to Closing Bell. I'm Scott Wapner, live from Post 9 here at the New York Stock Exchange. This make or break out begins with this very strong day for stocks and what a real end to the war in Iran will mean for this record-setting rally. We'll ask our experts over this final stretch, show you the scorecard here with 60 to go in regulation. Green from the outset today. On that news of a framework agreement with Iran, tech is undoubtedly the big winner today. That sector continues its rebound from last week's volatility. Meta leading the mega caps higher. But many are showing pretty strong days. That's just a standout up near 5%. Micron, a big mover among the semis along with AMD. Take a look at those names right there. We begin with our talk of the tape, the future of this record-setting rally, where it goes from here. Let's bring in our panel, Josh Brown of Ritholtz Wealth. Trivariate's Adam Parker. Solis is Dan Greenhouse. Adam and Josh are both CNBC contributors. It's great to have everybody with us. Josh Brown, in the house on Closing Bell. See, that guy's me first. Well, you're sitting right here. We're not used to seeing you in this hour. What a panel, by the way. Yeah, we're happy to have you guys here. So from your vantage point, we've got a big move today. We figured that this day was going to come at some point, right? We're going to come to a resolution in the Middle East. Is this market price action commensurate to what you'd expect? And where do we go from here? [00:25:54] Speaker 5: It's so funny. It's very on-brand. The stock market is like, okay, all in. We'll take it. We'll run with it. Bond market, really nothing going on. I think the five years down, two basis points. Does not believe that all of a sudden we're going to have a complete erasure of whatever concerns about inflation have been in the tape for the last few, let's call it two and a half, three months. WTI at the lowest level since March 5th is probably the most important thing to say here. Oil stocks immediately got slammed. We had a month like this in May. 100% of the XLE down. That's exactly what you would have expected if I had given you this headline on Friday morning. But they went risk-on really quickly. And when I look at the leaderboard, all I'm seeing are memory, data center stocks, infrastructure for data center stocks. And this is really what people have been waiting for. They want to see some resolutions so they can get back to what the prior trend was. And this obviously is what the prior trend has been all year. [00:26:54] Speaker 6: You could have a lot of stocks that are up more than micron, but they won't add more market cap. [00:26:58] Speaker 5: Can we put up the Russell 2000 or give me the IWM, whatever's easier? I didn't know you could just ask them to do stuff. [00:27:06] Speaker 1: He does it all the time. [00:27:06] Speaker 7: You can do all sorts of things. [00:27:07] Speaker 8: Not everybody can. But, you know, he does. [00:27:09] Speaker 7: When I've done it, it's generally worked. [00:27:12] Speaker 8: I've never tried that. You make an exception, please. [00:27:15] Speaker 5: Re-ask the Russell. Can I see small caps? I don't know. This feels pretty good to me. Why are we saying it's not broadening out? Explain. [00:27:23] Speaker 1: Yeah, by the way, the Russell hit another record high. [00:27:25] Speaker 5: What's the problem? Anybody dislike this? You know what's in here? Financials, industrials, biotech. SanDisk, Micron. Well, that's what I'm saying. We have stocks away from the AI CapEx theme. It's just that the AI CapEx theme stocks are up so much and they're so big. They've basically taken over everything. But it's not – I don't think it's as one-dimensional. And the other thing I'd say is, as recently as Friday, the MAG-7 names as a group, equal weighted, we're doing nothing this year. Basically a donut in return. [00:28:00] Speaker 7: I will push back a little bit and say we're up 10% on the year. I mentioned already tech's doing all the – no surprise to anybody. There's 200 stocks in the S&P 500 that are down on the year, not underperforming the index that are down. That's a big chunk of the index. And when you look historically, when you're up – I'm making this up 10% in the middle of the year – the number of stocks that are down on the year are much less than 200. Call it 100, 125, maybe. So there's a lot more stocks down. And it speaks to what you just mentioned, which is the dominance of the AI theme. We've all talked about this ad nauseum, whether it's industrials or utilities, tech and telecom, obviously even some of the energy name, it's the single largest determinant of the market from a thematic standpoint. And there's just a lot of other names. If you're a single – if you're a manager picking stocks, not benchmarking – [00:28:48] Speaker 5: What would you rather – what would you rather have, the 25 basis points back in rate cuts at the end of this year or 50 cents to a dollar lower in gas prices? I know I'm the latter. Of course. If you want a broadening. Of course. So I think we're going to get it, quite frankly. I mean, nobody actually knows, but I don't think we'll get the rate cut. I do think we'll get the gas price moderation. I think it's going to work. I think we're going to get more stocks working than not working in the second half of this year. [00:29:14] Speaker 1: Is part of the rebound in the market a realization that actually there was some positioning changes around the SpaceX IPO coming to market? People needed to free up some cash from certain places. Now that was well absorbed that the IPO went off great. It's trading great. Now the mega caps are back. So that's proof in some respects that you did have a little bit of positioning unwind more so than anything fundamental taking place within the tech orbit. [00:29:45] Speaker 5: I talked to a bunch of people who thought the size of how much SpaceX was looking to raise, 86 billion, including the green shoe allotment, would be sort of like a meteor hitting the earth and the disruption would go on for a while. Nobody thought it was like the end of the world, but people really did think you were going to get this air pocket in the market as people shuffled money from one pocket to the other. Not only did it not happen, thankfully, the Dow was plus 350, the Nasdaq was up 80, and a lot of the stocks that you would guess, yeah, people are definitely going to sell that to buy SpaceX, including Tesla. It didn't work out that way. The thing that had to happen before they get into the index funds, you've got a lot of retail, you need hedge funds. There's no other giant pool of capital besides traditional asset managers. You need hedge funds to be part of this handoff where they buy it with the expectation that you're going to get the queues, the investgos of the world come in, take it off their hands in two weeks. It looks like that's holding unless we think retail all of a sudden is the best behaved version of itself in the history of mankind, which I doubt. So there's real money supporting this stock. They took it up again today. And it's not... It's like 10% earlier. It's not that long before the queues come in to buy and all the growth funds and all the index trackers. And that won't be $86 billion worth, but it'll be $40 billion worth-ish. [00:31:06] Speaker 1: It just showed you that the retail cohort wasn't running for the exits. I think it's actually the opposite. They wanted to get more engaged. [00:31:15] Speaker 5: It's the opposite of what happened in 2021. What happened in 2021 is a lot of issuers came. There were 1,000 IPOs on the New York and the NASDAQ combined in one year, not to mention all the IPOs from 2020. But by the end of 2021, the quality of the deals had made it so that people were just absolutely vaporized coming to buy these things. And there was a lot of negative sentiment. And that killed the... That, in addition to interest rates, killed that cycle. This is the opposite. If you're a retail investor and you put in for 100 shares of SpaceX and they gave you 50 and you're up 35%, it's not a lot of money, but the sentiment is good. You don't feel like Wall Street's out to get you, the system is rigged, we better go run up a short squeeze to punish a hedge fund. No one's talking about that right now. People are happy. [00:32:05] Speaker 6: Investing in stocks is you buy your little dream today and you sell it to a sucker with a bigger dream later. That's what you do. Think about all the dreams SpaceX has. Think about all the dreams they have. All the dreams SpaceX has. Every dream has AI, has space, it has nuclear, has defense, it's awesome. [00:32:26] Speaker 1: What if you just buy your little dream today and you hold on to it... And you hold on to it forever. You could. And then you realize your dream rather than... You could. And that's... Take the sucker angle of it. [00:32:35] Speaker 6: Well, one or the other. But I... Look, my view is these businesses that traded 100 times sales usually don't trade it. Those multiples forever. I don't think anybody's saying, I think this is fundamentally attractive. They're just saying it's awesome and it's dreamy and for now it's good. Last question. Yeah, I'm sorry. [00:32:52] Speaker 7: Stocks that traded 100 times sales... Listen, Adam knows plenty, but I'm not... Stocks that traded 100 times sales require a different type of investment mindset than does buying... [00:33:01] Speaker 6: I should have prefaced it by saying stocks at a certain multiple are dreamy. I skipped that because I thought that was common knowledge. [00:33:07] Speaker 1: But that's... We'll end there. That's fine. Okay, good. Thank you, guys. [00:33:10] Speaker 8: Appreciate it. Good to see everyone. Yeah, appreciate it. Do you need a razor, by the way? What's going on here? I'm all good, my friend. That's just closing belt. Nick's celebration. Nick's celebration. Finals beard. Yeah, finals beard. All right. We're just getting started here. Coming in, Paul. [00:33:20] Speaker 9: What do we see today? Crude is down 5%, whereas bond yields opened last night at the lows and they're basically at the highs of the day here. We think that's because we're looking ahead to the Fed meeting this Wednesday where markets like to test that Fed chair's first meeting. And that probably means you get some upward pressure on yield. So, in summary, we think we do still expect more broadening over the next couple weeks or months. But I think the near term, you're just kind of seeing a reversion of what we already saw over the last two weeks. [00:33:49] Speaker 1: Yeah, I figured the bond market was gearing up for whatever the new chair says and does. In the middle of the week. Bottom line to you, the trend is still fully intact. This record-setting bull market, which is going to get another Dow record likely today. [00:34:12] Speaker 9: Yeah, I mean, look, the trend for most of the indices really has not broken. It's more a function of, you know, as we've talked about, do parts of the market get too overheated, too extreme like semis? And, you know, we saw a couple Fridays ago what can happen when you get too stretched. You had like a down 10% day for the tech AI trade. And then the other part of the coin is do we get that rotation and the reversion higher in some of the laggards? And we did see that over the last two weeks. So, I think both can be true. You can have kind of this push-pull back and forth. But, yeah, the overall trend, if we're talking about the S&P, still remains fine. [00:34:46] Speaker 1: Okay, we'll leave it there. I appreciate the time. Counting us into the close, which is going to be a record-setter for the Dow. A really nice rebound in stocks today. As oil comes down, you have the memorandum of understanding really helping this market today. We'll see where all of that goes from here. And I will see you on the other side of this rally. In the other side with Melissa Lee. [00:35:10] Speaker 10: Hey, everybody. Welcome to Blue Cloud Trading. I'm George. It's Monday. It's June 15th, 718 p.m. Eastern Time. As I'm recording this video, we saw some clips from the Halftime Report and some clips from the Closing Bell. Josh Brown was on earlier today. And they basically shared some of their favorite stocks. We're going to take a look at a list of those stocks. Let me show you guys real quick what I'm talking about. So I'm using this platform called TC2000. And we're going to use this indicator called Ichimoku to analyze technically the stocks that were discussed. So we're going to definitely talk about the indices. We're going to look at the VIX, gold, silver, oil, Bitcoin, Ethereum, copper, and the MAG7 ETF. We'll also take a look at about 16 stocks and ETFs that were discussed on the show. And we'll also take a look at three stocks that were requested by our members. So let's go ahead first and take a look and see what happened here today. As you can see, the markets were all up today. We had a big gap up. Price moved up. But then around, I'd say, 1 o'clock it stabilized and actually started to drop a bit. But it was still up 0.92%. The NASDAQ, on the other hand, basically it did hold that position up 3.07%. Really big move for the NASDAQ today. The S&P 500 also gapped up and didn't really give up that much. It was up 1.65%. The Russell 2000, though, was a little bit of a disappointment in that it did gap up. And then it did spend the rest of the day dropping, as you can see here. So the Russell 2000 up just 0.58%. Let's take a look at the heat map. This is going to show us how the stocks closed at the end of the day. And you can see the energy stocks were mostly in the red. So was health care, right? So were some of the banks down here in some consumer defensive stocks like Philip Morris, Coca-Cola. You could see that some of the information technology stocks like IBM was down. But the big names, I'm talking about Apple, Microsoft, NVIDIA, Broadcom, Micron. Look at Micron up 10.84%. AMD up 6.98%. Some big moves. Meta was up 4.67%. So yeah, interesting. Let's see what the after hours performance looks like, though. Right now, since we can do that, we'll take a look at the aftermarket performance. As you can see there, the stocks are dropping a little bit after hours, except for Amazon, which is up 0.74 at this time. Interesting. The big names I'm talking about. And the energy stocks seem to be a little bit more positive, as you can see. OK, so let's do this. Let's go ahead now and take a look at the stocks and ETFs. And we're going to start off, actually, with a QQQ ETF that was up 3.14%. Let's throw on some levels so we can see where we're at. All right. And this is a daily chart right here that we're looking at. So you can see, actually, I'm going to get rid of this. This is old news anyway. So we don't really need some of these trend lines. What is important is where we're coming to, because you can see here that price at this particular high, 748.65, we're getting real close to that level of resistance, or less than 1% away from that level. So that's an area that I'd be watching. Price on Friday, as you can see, popped above the moving averages, right? We didn't do a video on Friday, but markets did pop on Friday. I did do a members-only video this weekend. So you would have found out about the strongest sectors and industries. And I had 20 new stocks on this new watch list that I shared with Legend and Blue Cloud Trader level members, as well as 10 new ETFs, which is something I'm starting to do more. And so if you want to get access to that members-only video, it's this one right here. It's a little over one hour long. What you need to do is click the Join button here. Select Blue Cloud Trader or Blue Cloud Legend level member. If you want to also get the daily trade updates, become a Legend, OK? If you just want it once a week, become a Blue Cloud Trader. All right. Well, you'll get access to my entire portfolio, as well as the stock watch list, OK? All right. Let's get back, folks. So QQQ, looking very bullish here, but finding some resistance at that level. If you look at the weekly chart, there it is. We're almost there. We're almost at that 748, 65 level. What about the Dow Jones? You know, it gapped up, but then gave us this very bearish pattern. It almost looks like a gravestone doji. And that's when, you know, you can see here, we get this wig on the top, and the opening and closing price are relatively close. That's where we're at with this one. So it's not particularly bullish. And the volume also dropped a bit today. So that's not good. On the weekly chart, we're still above all the moving averages. So these ETFs, whatever, any of these ETFs that you see here or stocks, whatever I discuss, if they have a blue flag on the left-hand side, that means it passes this Ichimoku test, which is essentially price above the moving averages and the Ichimoku cloud. Then you know that you're in a strong uptrend, okay, on both the weekly and the daily charts. The Russell 2000, it was up 0.58%, but as you can see, created another very negative-looking candle. And that's, again, the reason that's a red candle is because price actually gapped up, but then the sellers and the bears pushed the price down by the end of the day. And you can see all that action, of course, when you switch it to a three-minute chart. So here we are, hour by hour, throughout Monday. You can see we gapped up here, moved up slightly, not a whole bunch, right? And then basically around 9.39 a.m., that was the high of the day, it dropped 1.11% from that level. So not really that bullish. FEZ, which is the Eurostoxx 50, this one also gapped up above the 69.44. We've been waiting for that for a while now. That's a monthly level, the 69.44. If I switch over to a monthly chart, we can see here it's based on this candle, and that goes back to February 27th of this year. So February, March, April, May, we've been under this high. We finally broke through it. We closed above it on the daily chart, okay? But what's more important when you're looking at a monthly level is that it can actually hold up, right, above that 69.44 level by the end of this month. Because we're looking at an all-time high here from February. So if it can hold up above 69.44, that's going to be very bullish. If we see it retract and come back under, not as bullish, obviously, right? You look at the weekly chart, we're just right on the edge, as you can see, with that tiny little red candle. So it's not something that I'm, like, super excited about. I like the fact that we broke through the 69.44. That's a positive. But the fact that it started giving away most of that, you know, that gain, right, from the opening price there around 70. It was around, what was the opening price? $70.08. It dropped down to 69.62. Dropped about, you know, it looks like 0.67%. This is not a really high beta ETF. SMH, which is a semiconductor ETF. Let's go to the daily chart. So SMH popped 4.38%. That's the semiconductor ETF. And it also broke above the high here from Wednesday last week, June 3rd. That's also positive. I like what I'm seeing here. We also had a positive crossover with the directional movement index. That's very bullish. So these are the ones that I feel are the strongest ETFs from the list of 14, 5 of the 14. Let's take a look at these other ones, though, so I can explain to you why they don't fit the criteria and get that blue flag. So the SPY, for example. Although it was up 1.76%, you'll notice that the moving average here, the faster one, the green line, which is the midpoint of the last nine periods, that's under the red line, which is the midpoint of the last 26 periods. So it's under the slower moving average. We are still above the cloud, so that's bullish. We did get a bullish crossover here, but we're still under this resistance level of 760.40. Here's a weekly chart. Still stuck under that level. So that's why I'm saying it's not as strong as some of the other, especially not as strong as the Qs, which is up 3.14. Looking at the VIX, that's the market volatility in the VIX, that dropped some more, down to the 16.2 level. That's really, that's very bullish. 9.22% is a pretty big drop for the VIX, and that's what led the market to pop as well. It's basically a reduction of fear, right? So in the markets, that's what that represents, volatility, and when that's dropping, the market's usually moving up. Gold also jumped 2.59% today, but then you can see it stalled at that 399.20 level based on these prior lows. So that's kind of interesting, right, that we stalled at a level of resistance of 399.20. That's an important thing to keep in mind. In fact, it's not even a daily level. I'd call this a weekly level because it goes back so far. It goes all the way back to, that's why I'm going to color it light blue, to represent weekly. Basically, it's from March 25th of 2026 or so. So it needs to get back above these resistance levels as well, the 26th period, the Kijanson, is what that's called, and above the 200-day. That's the dotted yellow line. So, yeah, it's not a time to be adding positions in gold, but it certainly wouldn't be shorting it either. Silver also jumped 3.56%, got back above the Tenkinson, the 9 period, and above the 200. But, as you can see, spent the rest of the day dropping, right? So we had that nice move up. Here's the three-minute chart. You can see it declining throughout the day. Oil K, on the other hand, dropped 2.49% today, gapped down, but then it created a bullish little candle by the end of the day. So, again, looking at the three-minute chart, we can see that big gap down here that happened pre-market. And then it stabilized, right, throughout the day, and then basically broke through the opening price and got back above here. So, but it did not make it back above the prior day's closing price. This dotted red line from Friday. So that's the other thing, right? But looking at this, if I can switch it over now, while we're here on the three-minute chart, let's take a look at Oil K and see what it's looking like after hours, okay, after 4 p.m. So you can see there's a lot of volatility, actually. Wow, that's interesting. It had jumped as high as $52.80, but then right now it's around $51.63. You know, that's the thing with after hours trading, you know, with something like this that doesn't have a lot of volume, you're going to see a lot of volatility. It's going to be jumping all over the place. You're not going to really get a good sense of where it should be. So that's why I'm switching it back to the daily chart now. And this is what the daily chart looks like post-market, 3.34% drop after hours versus 2.49. So that's interesting. So oil is dropping now after hours. Okay. At least this particular ETF, the crude oil strategy ETF. Bitcoin also gapped up 4.63%, created a reversal candle. That's not a very bullish candle. It's still under the cloud, so that's bearish. Ethereum also gapped above the 1707 level. So that was a big move, 9.35% for Ethereum. The ETH ETF is a ticker symbol for the Ethereum stocking, stocking, staking, mini ETF. ETF, all right? So it jumped. And the momentum from the decline in Ethereum has also started to decline. If you guys have been following my channel for a little while, you'll know I talk about this white line. That's the 80X9. If that is moving up, that means that momentum is increasing. And when the red line is above the green line, the momentum is increasing to the downside. The second that white line starts to drop like it did right there, it's basically saying that the sentiment is changing now. That all that negative momentum is starting to slow down, and we might start to see a recovery, potentially. Not guaranteed. And we are, as you can see here, since that happened, you see that gap up that happened, we can see that the 80X did drop. Notice how the green line is moving up and the red line is moving down. It looks like the green line wants to, once again, take control and start moving back up. And we might potentially see some more buying here in the coming days in Ethereum and in Bitcoin, as there is a bit more, you know, things are becoming a little bit more positive, at least in the Middle East. And that's why I think that's part of the reason why the stocks did so well today. COPX, Copper Miners ETF, you know, this one has been just bouncing around. It's been stuck, essentially, inside of a, I'd call it like a box. You can see there, you know, it didn't quite make it there, but it did, it's basically staying in these levels. I would really hold off until we can break above some prior highs, honestly, because it did emerge here for briefly above this symmetrical triangle. So that's a weekly candle, a weekly level right there. So, yeah, there's nothing special happening here right now with Copper. It did drop, pop 4.47% and then created a reversal shooting star candle. So I wouldn't be adding positions here. Mags, MAGS, that's the Magnificent 7 ETF, popped up 2.63%, closed above the 9 period, but still under that slower moving average. Okay? So as I mentioned before, a lot of times, price will come down to the Ichimoku cloud, and this is a level of support where it can bounce right off that cloud. The cloud is created by taking the midpoint of these two moving averages, the 26 and the 9, and then projecting that out 26 periods into the future. And that's what creates the synchronous band A, that light-colored blue line. And the synchronous band B, the other part of the cloud, the purple line, is basically the midpoint of the last 52 periods. But instead of projecting it above or below, it's projected 26 periods into the future, creating the cloud. All right? So when the synchronous band A is above the synchronous band B, that's also very bullish. Right now, would I be adding this ETF to my portfolio? No, because it's still technically relatively weak with a faster moving average under the slower one. You'll also notice there's another line here called the Chiku Span, that's the lagging line, and that's still under price. Okay? So we don't want to be adding positions here, in my opinion. All right, let's keep going. We're going to go through the CNBC stocks now. There's about 16, and there's just, let's see, 6 out of those 16 that met the criteria of the Ichimoku. So let's look at that. Interactive brokers, for example, on both the weekly chart, where prices above the moving averages in the cloud, and on the daily chart. Same thing. I don't like the candle that formed today, even though it gapped up. You can see the bears took control immediately and started dropping. So it was up 2.15%, but a percentage gain can be very misleading as far as what's happening behind the scenes, the battle that's taking place between the buyers and the sellers. And we can see it again, switching to a three-minute chart. So again, here we are, price gapped up to this level, and it just, profit taking, started taking place immediately, right? And started to stabilize a little bit and then drop some more. Found support at the 200-day, I'm sorry, 200 moving, simple moving average for the three-minute chart. Okay? That's what that is right there. The daily, here's the daily 200-day. So interactive brokers looks more bullish because it broke this 9102 level, but this is not an entry point, in my opinion, based on the candle itself. LRCX, which is LAM Research, also popped 6.03%. There's a daily chart. There's a weekly. Looks very bullish overall. I like it. I like MTUM, Momentum Factory ETF. That one also gapped up. I'm not crazy about this candle here on the weekly. Here's the daily chart. Same-looking type of candle. Micron also gapped up here and was unsuccessful in breaking above the high of this candle, which is 108.929. And so it closed at 108.799. So that is something that I would probably want to wait and see if it can close above that level first. Because otherwise, it could potentially create something called a double top pattern, right? It's when price comes to a level, drops, comes back to that exact same level, finds resistance, and drops more the next day. And that's not a good sign. That's a double top, and that's very bearish. So we won't know until tomorrow. We need more information to make a more concisive decision about this. XLI also gapped up, but look at this. A gravestone doji. You heard me talking about this earlier. Let me just show you what that looks like on our Japanese candlestick pattern reference sheet. Let's go to my X account, X.com. I'm under at Blue Cloud Trader if you want to follow me there. Scroll down to the Highlights tab. Scroll down some more. And this is where you'll find this free cheat sheet. It's a candle pattern reference sheet. And this is what the gravestone doji looks like. Hold on one sec. Right here. Do you see this pattern? Price has been moving up. You get a long wick and a very flat body. The next day you want to watch to see if price can hold up above the low of that candle. If it doesn't and breaks under, it's just a higher probability that price will continue to drop more after something like that. Or a shooting star. Or a hanging man candle after a move up. Or a red bearish spinning top after price has been moving up. Those same candles can be very bullish if they happen after a pullback. The name actually changes to hammer. This one changes to inverted hammer. The gravestone doji turns into what's called a dragonfly doji. And when you have a bullish spinning top, like a green candle, after a pullback, that's also bullish too. I would try to memorize these double candle patterns and triple candle patterns if you can. You know, you get the bullish side and the bearish side. It helps to, helps with your trading so you get a better assessment of what transpired throughout the day. Okay. All right. Let's get back to the charts. So, like I said, that's a bearish candle. Higher probability that we're going to pull back. No guarantees. All right. So, again, just what you can do is take a look at the high of that candle, the low of that candle, and see what happens tomorrow. Can it break through to the upside above that level? If it does, you cancel that. It's no good. It means that it was a false little, false candle. All right. It's not legitimate. It's not actually something to be concerned about. You know, something else I'm just watching, seeing here, is this prior high. I want to get that actual level real quick. Ooh. So, that's interesting. The high there was 179.30. Let's go ahead and type that in there so we get the exact dollar amount. And look what happened here. It came right to that level, and then the bears pushed it right back under that resistance level. So, that's interesting. Once we can close above 179.30, then you can see industrial, this ETF, at least start to take off, maybe. XLK is also above the moving averages, above the cloud. Looks pretty bullish here. On the daily, it was up 3.78. This is the weekly chart, very bullish as well. Okay. Apple pulled back, found some support at the nine period. It looks pretty good here. It's forming what's called a bullish harami, right there. On the daily chart, though, it's under the moving averages. So, this is not the time to be adding, in my opinion, under these two moving averages. Broadcom is also under the moving averages right there. Sometimes the moving averages merge, and at the exact same level. I mean, yeah, so Broadcom, not looking particularly bullish. DKS is Dick's Sporting Goods. That's under the 26th period. That's not good either. Okay. Google, under the 26th period right now. Okay. We were up 2.69%, but it's still not particularly bullish yet. Meta is under the Ichimoku cloud. That's even more bearish when price is under the cloud. I'd stay out of that one. Microsoft is inside the cloud. It's still bearish overall, or no decision really here. Faster moving averages than the slower one. We're still under that 200. I'd stay out of Microsoft. NVIDIA is above the cloud, and it actually gapped up, and it got above this 208.78 level. So, that's very bullish. We also closed above the, today, we closed above that 9th period. But, as you can see here, we're still under the 26th period. So, I'd hold off on NVIDIA for the time being. OIH is inside the cloud. That's the VanEck Vectors Oil Service ETF. Nothing to do here. It was down 2.95. SpaceX. Let's talk about SpaceX. And why is there no information here on the Ichimoku? That's because there's only two days of trading here so far. So, in order for the Ichimoku indicator to materialize, obviously, we need more data. So, if we want to find more data, then you have to switch it to a shorter timeframe. Okay, there's a two-hour. You can start seeing that nine period starting to form. The one hour. Now, we got the 26th period as well, right? 30-minute chart. Okay, we can see that the cloud is starting to form in the future here a little bit. If you go all the way to, say, maybe to a, you know, this is where it starts to get a little bit more in. You can start making some calls on SPCX based on a 10-minute chart, for example. And you can see here how price from Friday, June. So, this is what all the action looked like, right? With a big move up to this level of 176 and then dropped and closed around, what was it closed there? It was 170.11. Now, the next, you know, today, Monday, price gapped up, dropped a little bit, and then stabilized and started moving up. So, today alone, SPCX up 19.58%. A nice move. So, it's more for me, personally, I wouldn't be, I would be more into day trading something like this, which is very volatile, right, than anything else. I would not be adding a position here yet. I'm not that, because the problem with any company that comes out with, you know, they basically become a public company. There's not enough data and information yet to make conclusive decisions. Plus, there are a lot of rules for the people who have invested early, where they have to hold the stock for a specific period of time. Once those rules end, they're probably going to take profits. And when that happens, you're going to probably see SpaceX drop significantly when that does, when those time frames take place. I don't really want to have to follow all that. So, under this scenario, personally, it makes more sense to day trade, if you have the time to day trade, if you're into it. So, it's something I might consider day trading in the near future. And I would probably use something like a three-minute chart to day trade it. You can see how the three-minute chart works great. The one-minute chart, you can use that as well. But it's a little bit more active. But notice how the Ichimoku, you can apply it to any time frame, which is fantastic. Here's a two-hour time frame of SpaceX. I'm sorry, yeah, Space Exploration Technologies. There you go. Anyway, let's go ahead, guys, and look at the next one. HLE energy. Here is a two-hour time frame. It's not looking pretty. Daily chart, as you can see, gapped under. So, this is really a very bearish-looking pattern. It's called a descending triangle. All right, let me show you that one, too. So, here's the lower high from this high. And we took out this low, all right, today. So, that's a descending triangle. Okay, and I'll show you guys that right here. Under this candle pattern reference sheet, there's another stock pattern sheet sheet. So, what I just showed you was that descending triangle right there. That's what it looks like. And when price gets under that, that's extremely bearish. So, that's what we've got going on here with XLE. I would hold off on XLE. Let's take a look at some of our members' requests. WDC, Western Digital Corporation. Okay, very bullish chart. Up 16.1% today. Look at that. Beautiful. Took out this high. We've got a series of higher lows. We're in an upward channel. Okay. It looks good. I like WDC. That looks good on the daily. If you look at the weekly chart, I mean, it's a very strong chart. This is, I mean, perfect. And notice how the Ichimoku moving averages hold it quite nicely for the most part. There's a couple little moments here, like one day here and maybe a second day here. But in the scheme of things, it can really give you some insight at a glance, which is what Ichimoku stands for, about the strength of the trend, right? You can do that. You can buy the stocks when they're in an uptrend or you can do the alternative. Buy them when they're in a decline and hold on to those forever. And then, you know, that's not good either. So, like, you can go back all the way over here where you can see where price got under the cloud and that led to a drop of about 57% on this stock. Over here, it got into the cloud. If I measure that, that was a 55% drop, okay? But when price gets above, that's when good things happen. That's why I use this indicator. And I've used a multitude of indicators over the years. I've been trading for over 20 years. I've basically used, you know, RSI, stochastics, you know, Bollinger Bands, you name it. I've used it all. In the end, this is a very comprehensive indicator. It shows you the strength of the trend. And if you also add just one more, and I also found that this particular indicator, the directional movement index, is very effective, especially at a setting of 9, which is a little faster than the traditional setting. It's very good at helping to identify the strength of the trend, okay, with this ADX 9. Okay. And let's go to the next one, guys. PRG. That's Prague Holdings, Inc. It's in the industrial sector, rental and leasing services. And looking at the weekly chart, it looks good. And that price is above the two moving averages. It's above the Ichimoku cloud itself. The cloud is bullish with Sanko Span A above Sanko Span B. The Chico Span, which is the lagging line, which is essentially the current price projected 26 periods ago in a line form, that's above price. And that's a bullish sign. And then, of course, down below here, the directional movement index is giving us a buy signal here. You can see how price has been moving up. As price has been moving up, so has the ADX, and the green line is above the red line. It all started happening around that point right there. Now, today was a reversal-type candle, though. All right, so you have to be a little bit more cautious. We're also very close to this prior high. We're just about 7% away, almost. So just keep that in mind. Here's the daily chart, another reversal candle, but still above the cloud and moving averages. XLF, the financials ETF, is also looking pretty bullish in that, at least on this time frame, the daily chart, price is above the 200. Price is above the moving averages, price is above the cloud. The cloud is bullish. The ChicoSpan lag lane is above price, but you look at the weekly chart, and let's see here. What's going on? Oh, yeah, there was one thing I noticed. Most of the elements of the indicator are positive still, except for the fact that the ChicoSpan hasn't broken above. So I'm talking about the current price projected 26 periods ago. So that white line has not, you know, gotten above the candle yet. So that's why I'd be a little bit more skeptical on XLF. But it was up 0.41%, and we still have a lower high here, okay? So I'd be just keeping that in mind. All right, guys, that's going to do it for this video. Thanks for watching. If you want to support this channel, don't forget to hit the like button and the subscribe button and the notification bell so that we can push this out to more people. It helps the algorithm push it out to a lot more traders that can also benefit. And the more subscribers I have, the more I'm motivated to make videos too. So consider becoming a subscriber. It's free for this. And if you want to get access, like I said earlier, to this member-only video, click on the join button. And if you want, check out these other links, 10 more links right here. If you click on that, and then you scroll down here, there's a whole bunch of other ones, like the $25 coupon for the TC2000 software. That's this platform here. And then there's also the Finviz Elite affiliate link right there. You want to click on that if you're interested in using, whoops, give me a second. If you're interested in using this platform, this is a fantastic software package as well, the Finviz Elite. Because you can also type in a stock like, let's put in Tesla, for example, just so you can see what I'm talking about. It will tell you what the closing price was. Over here, you can see the after-hours performance of Tesla, down 0.62%. You can throw on that Ichimoku indicator. There's a free version of this too, by the way. But if you end up wanting to use the Elite, make sure to use the link that I shared with you guys. Here, you can get a quick synopsis of the day. You can see some of the fundamentals, the sales, shares outstanding, some of the upgrades or downgrades by analysts like JP Morgan. Some of the news. You can see here all the news right here for this company. Scrolling down more, you can find out a little bit more about Tesla right here in the summary page. You can find out the managers. Like BlackRock, for example, has 5.55% of their ownership is in Tesla. That's interesting, right? Some info about the co-founder. And then, of course, there's even balance sheets and income sheet, statement sheets, and everything else. If you really want to get into all of that, there's so much insider information as well. Instead of trading, the relationship and CFO, what they did on what date. Did they exercise some options? You can find out about that. You get the picture. So it's really interesting. Anyway, guys, I hope you all had a good weekend. I will catch you all in the next video. We'll catch you all in the next video. [01:08:06] Speaker ?: We'll catch you all in the next video. We'll catch you all in the next video. [01:08:09] Speaker 6: We'll catch you all in the next video. We'll catch you all in the next video. We'll catch you all in the next video. We'll catch you all in the next video. We'll catch you all in the next video. We'll catch you all in the next video. [01:08:21] Speaker ?: We'll catch you all in the next video. We'll catch you all in the next video. We'll catch you all in the next video. We'll catch you all in the next video. We'll catch you all in the next video. We'll catch you all in the next video. We'll catch you all in the next video. We'll catch you all in the next video. We'll catch you all in the next video.