All right. Hello everybody. Welcome back to another episode of the market close. We are live. It is Tuesday, November 25th. Folks, we got a bunch of earnings today that we're going to go through in the next 15 minutes as we get those earnings updates. We got Dell, Workday, CleanSpark, Autodesk, HP, and a couple other names. I'm putting a poll right here in the chat to see which one you guys think outperforms.

We've got a lot of updates in terms of what happened with that story. In fact, if you took a bit of a stab here on Nvidia early in the day, you are being rewarded. Nvidia right here at 177.52 recovering a decent chunk of loss, it got to 169.

Anyway, yes, rookie streamer. You think I do this after, you know, I'm coming on three years on doing this. This is going to be by starting 2026 be three years of doing this and every day we still make a mistake.

Anyway, Nvidia 177.42. I did buy the dip a little bit at 170.8. Bought that live this morning. I know a bunch of you in the chat. I think when Jose was on, we got to 169 and a bunch of people bought that dip at 169. Recovering a decent amount of the dip. We have some reasons for why they're recovering some of the dip and we'll in a second video right there. Still down about 2.8.

S&P, we have reclaimed the 50-day moving average. Let me repeat, we have reclaimed the 50-day moving average. We are not out of the woods yet. We will have Jason on later and we'll get into technical Tuesday and get his thoughts on what's going on with the moving averages on a variety of different names.

So, the fact that the S&P is up 1% on the day. Remember yesterday we were up 1.5%. That means in the past 48 hours, that is a 2 and a half% move. We were down 5% from the highs last Friday. We are recovering 50% of what we were down. If we get another 1% move, it's recovering almost 75% of what we're down. So, this is really good price action to see from the S&P 500.

You are seeing it broaden out a bit and not just being led by tech because the most important company in the S&P 500 that is 8.3% of the entire index is down 2.7% but the S&P 500 is up. So what's leading it? UNH that's up 2.4%. Google not at 330 but still up 1.24% so not too bad. Meta 635 that's up 3.6% on the day. You got Arista that's up. Cisco that's up. Broadcom that's up. They have a variety of different names coming into the picture outside of just Nvidia. Even Hoodie is getting 116.55. Hood almost got to 117. So very exciting to see a little bit more of the broadening out and as a result the S&P 500 right there at 675. Apple as well touched 280 on the day. A little bit down from that 280 now at 277.54.

But nice to see that Apple is getting some of that momentum. So what happened today and what is going on with this Nvidia Google story? And we're going to get deeper into it.

Um, so I think the first thing today was that Nvidia responded. Nvidia responded and as a result of Nvidia responding, that was at least what got the market to be a little bit taken care of.

So, what did Nvidia say? They issued a full-on statement with their response. They said, "We're delighted by Google's success. They've made great advances in AI and we continue to supply to Google. Nvidia is a generation ahead of the industry. It's the only platform that runs every AI model and does it everywhere computing is done." Um, and Nvidia offers greater performance, versatility, and fungibility than ASICs, which are designed for specific AI frameworks and functions.

So, that announcement coming out today by Nvidia. Yeah, as Robert says in the chat, Nvidia is like, I'm so happy for you guys, but we're better. I mean, it's been memed in a variety of different ways because obviously it's kind of funny. Nvidia is like, hey, congrats Google. We love that you're doing so well, but you know, we're still here. That got the market to at least calm down a little bit.

Now, I know there's the bear case from a lot of people saying, "Why the hell is Nvidia responding? They're a $4 trillion company. They're sending letters saying that they're not the next Enron. They're responding to Michael Burry. Why are they responding to these TPUs?" I think at its core, we got to remember what happened with Deepseek. I still remember when we were live and Nvidia issued like a one-sentence statement on Deepseek and basically they were like reasoning demand is only going up. So, I mean implicitly they were like buy the dip.

But, I think this is what Jensen's sort of attitude is when this type of stuff happens. Jensen wants to be on the offense, although it might perceptually seem like it's a defensive move. He wants to get his perspective out there, and you can't blame him. He's a CEO of a multi-trillion dollar company. He understands that the entire economy and the entire AI trade is resting on Nvidia's shoulders. So, for him to come out with a response and want to actively respond, although you're going to have some people perceive it in the wrong way. I don't think that's the craziest idea in the world.

So, the Nvidia sell-off, I mean, not being as aggressive as a sell-off, down about 2.4%. It was down almost 8% at one point. The market obviously bought the dip and they didn't think it was going to be that big of a deal. S&P 500 right there 675. All the analyst reports I read this morning whether it's Bank of America, Bernstein, all of them came out and said, "Hey, we think you should buy Nvidia, Broadcom, and AMD. We don't think Google is just going to take over the entire market with these TPUs. These are things we should be cautious of, but it's not something we should be scared of."

Then you had a Google DeepMind research scientist who works as a head co-designer on the TPUs at Google the thing that's been causing all this market volatility and someone said this is a completely irrational market and they were quote tweeting a post of Nvidia AMD Oracle all being down on the day all the chip stocks outside of Oracle and this guy Amir Yazdan says the sell-off shows how clueless the market is about hardware and demand.

So you've got someone literally from Google who if we go to his profile right here works on TPU codesigns at the company saying the market is stupid because there is so much demand there is so much inevitability of overall data center buildout that yeah Google's going to take a chunk of that market or Google potentially can take a chunk of that market if this TPU thing starts to succeed and they get other hyperscalers on board which is a big if. But even if that's the case, all right, take away 10% of Nvidia's revenues and yeah, maybe that dips the stock a little bit. 90% of the market still needs to be fulfilled.

S&P 500 high of day at 676 and that enters in Nvidia. So, I don't know, dude. Like the entire dip today, it's just felt like it's not as serious as maybe people thought it needed to be. Meta, look at that. Up 3.8% 636 on today. That one being a beneficiary potentially of getting some cheaper um TPUs versus GPUs and the market potentially liking that. But then Nvidia trying to get back to 178 and maybe recover on some of the momentum that we lost today.

So, I mean, I read a lot of different perspectives. You definitely have a ton of people that are bearish on this TPU thing. I just think it's not enough to discount Nvidia's mode. And so, from that perspective, I think that this is going to be okay over the long term.

A couple other macro stats. We got six minutes until the market closes. We have a ton of earnings. I didn't even know we had these many earnings today, but we do have a ton of different earnings. Nvidia right there back to 178. First of all, Interactive Brokers showing the most actively traded names today. Nvidia, Tesla, AMD, Palantir, Meta, Google, TQQQ, QQQ, Amazon, and SOXL, which is the leveraged semiconductors ETF. Retail is sticking with technology.

So, in the face of some of these AI bubble concerns, although the S&P 500 is starting to recover some of the fears that it had before, that AI trade comes back on and you're starting to see some more momentum head into those names. I'm sure plenty of us in the chat, you know, many of us in this morning um bought Nvidia and we were part of that part of retail that essentially said, "Hey, we're going to buy the dip on this."

And it and it goes forward to this graph right here as well. Options market activity continues to skyrocket. The average daily notional trading volume in the S&P 500 options hit a record $3.5 trillion last week. The highest options volume in history according to Goldman Sachs was last week 95 million contracts. I mean it's absolutely exceptional.

And so I think the sort of animal spirits and the excitement in the markets although last week was an ugly week and you had a lot of people that took a downfall in their portfolios. Um, you had a lot of people buy the dip and you had a lot of people probably buy some lead contracts on these names that they felt were a bit too oversold.

And Nvidia right there 177.83, Apple at 277, Meta 636 up 3.8% on the day. S&P 500 trying to go for that 675 close. If we closed above 675, it would be very nice to see. Uh, and then you got Robinhood right here. Eli Lilly up another 3% now well above that $1 trillion market cap. Nebius down about 3.4% on the day. Iron down about 2.4%. Core was down 10% now. It's only down 3.5. So some of the data center names still getting hit as Nvidia is down but not getting hit as badly as they were before earlier in the morning when Nvidia was below 170 at one point.

And again the below 170 is not just like a psychological like oh my goodness it's below 170 that's bad. It's after those earnings for Nvidia to dump basically $400 billion in market cap today is the most surprising part. And given somewhat of the recovery that we're seeing, I think you have some people that just said enough was probably enough when it came to Nvidia.

Uh there was a report by MSNBC that Kash Patel was going to be fired by Trump. Uh the White House came out and said that's not the case. In fact, they took a picture of Trump and Kash Patel together and they said that was fake news. So for those wondering if we're going to get a new FBI director, seems like that is not going to happen as per what the White House said.

Now again, the job market this morning, we looked at some of that data and it wasn't the best. Uh we had 13,500 jobs to the negative that we saw from ADP private payrolls, which actually increased the rate cut probabilities to now 82.7%. This was at 75% yesterday. So you got an increase on those rate cut odds.

You had a bunch of Fed presidents come out. In fact, the former Dallas Fed president two hours ago said if he was on the committee, he would vote to cut rates. His argument was the labor market is something that we cannot ignore just because there might be a gradual increase in inflation which there was a gradual increase in inflation in this morning's PPI data although it was better than expectations for September.

Now, we got some other data about an hour ago from the October budget deficit for the United States. 284 billion. In October of 2024, the deficit was 257 billion. So, that's 30 billion extra. US October budget outlays 689 billion versus 584 billion. In October 2024, how much did we bring in from tariffs? 31.4 billion versus 7.3 billion in 2024. So we increased the tariff revenues by more than 4x but the deficit increased by 30 billion because we are still spending way more than we are bringing in even after 4xing the custom duties that were bringing in from tariffs.

Which means obviously the country has a spending problem and ironically that is your bull case for Bitcoin even though Bitcoin's not acting like that. Bit mine right there is down on the day by about 6.4%. Bitcoin right here was at 89 at one point now at 87.4 but you do have that deficit that continues to widen even with the increase of custom receipts that we are getting in from the tariffs.

So Reddit as well great day. I don't know what the headline is on Reddit but wow 12%. Pretty incredible. 12% right there on Reddit as we have two minutes into the close. S&P 500 675, Duolingo even is up today 1.78% and then Nvidia is probably going to be red on the day but will be higher than where it was earlier in the morning.

What did you guys say in the poll and let me know if anyone owns any of these stocks. We got a lot of these earnings we're going to dive into and then we'll get Jason onto the show. Um 55% of you said Dell outperforms Workday, CleanSpark, and Zscaler.

Yeah, if I had to pick, I guess I would pick Dell as well. Uh I don't know these names as intimately. Then again, Dell already increased a lot of their earnings projections um last week or not last week, like two, three weeks ago. That's when the stock was up like 7%. So, do I think they could continue to outperform? Yes. The margins always become an issue when it comes to Dell, but nonetheless, that one would be an important one for the day.

Yeah, Zscaler, the cyber security names have actually been doing pretty well. I mean, Crowd Strike was hitting all time highs a couple weeks ago and PaloAlto, I know they went down, but they did have some consolidation as well. Even Tesla 419 looks like it's ending green. So, it wouldn't be crazy to imagine that that one has a good day.

All right, here we go. We got a bunch of earnings. Thank you everybody for being here. We will get into these earnings and then we will get into technical Tuesday and we will see how this market ends up closing out. Tuesday, November 25th, 4 p.m. the stock market is now closed.

All right, we're done for the day. It is a pretty good day. Up 1% on the S&P after being up 1.5% yesterday. So 2.5%. I mean, I'll take it after the week we had last week. I don't think anyone can be too upset about that type of performance. S&P 500 right there 674.96 closes on the day green by about 0.95%. Bitcoin right there 87,000. Ethereum at 2920. Tesla 419 still up about.32% on the day.

Nvidia did we get 177? We got 177.82 on Nvidia. I think this is Google's highest close ever at 323. $3.9 trillion market cap. It needs to be at $331.48 to get to that $4 trillion level. Grab right there was basically flat on the day. Rocket Lab was up about.35%. Micron up.27. SoFi actually had a great day up three and a half%. Same thing with Hoodie which got back to 115. 115.57, 116 after hours that was also up half a percent.

UNH was up 2%. Figma was flat on the day. Coinbase was slightly down. Micro Strategy I think was slightly down as well. MSTR yep down about 3.4%. Where is Crowd Strike on today? Crowd Strike was up 1%. Uh Lemonade back in the 70s, 74 on Lemonade. Oscar holding on to that ACA pump that we heard um yesterday with Trump extending or potentially proposing to extend those subsidies. So Oscar is up 1.49%.

Then Zeta increased guidance and Zeta kind of held on I think to about a 5% move. Yeah, 3% move on. New Bank also congrats to those in New Bank all-time highs. I don't know what the catalyst was today for this, but they had a great earnings a couple weeks ago. New bank right there 16.61 up 4.3% on the day for New Bank.

Yeah, Dan Ives also did sit down with David Steinberg from Zeta. I saw a little bit of that interview. Um, so you got Zeta having some really good performance on that increase of guidance. Nebius was down about 3.3%. Chipotle was up a little bit. Wow, Chipotle 7% on the day. That seems a little weird. I'll try to find out what happened with Chipotle. And then McDonald's was up about 1.82%.

All right, earnings. Let's get into it. Uh, workday, that's green after hours. Clean Spark, that is also green after hours. Got CleanSpark up 4.3%. Workday is up uh 4.3%. Autodesk as well up 4%. All right, some of these earnings that are coming in, pretty decent numbers.

Crowdstrike does not have earnings today, so we're not going to hear from Crowd Strike. We also have HP and NetApp that we'll be looking at as well. HP is red after hours. NetApp, that one don't have No, NetApp's also 5%. Wow, you got pretty much most of these names going green after hours by about four to 5%. Dell is going to be the big one. Wow. NetApp up 6%. Dell still flat. CleanSpark up four. Autodesk up five. CleanSpark again pivoted to be an AI company.

Now, uh Kohl's, by the way, was up 42% on the day. Did anyone trade that move? Goodness. Kohl's 42%. Workday up 3%. And then Autodesk up 4% as well.

By the way, Vlad's uh AI startup, Harmonic, just raised another 120 million. So now it's worth 1.45 billion. So not only does he have Robin Hood, but now he has his mathematical LLM company that is worth uh that's a unicorn basically 1.45 billion.

All right, Autodesk, let's look at that first. Autodesk, they beat on the top and the bottom. Beat by 7% on EPS. 2.67 versus 2.50. Beat by 2% on revenue. Revenue is up 18% year-over-year. EPS is up 20% year-over-year. Autodesk is up 2.69%. So that is a double beat.

Um Abercrombie, yeah, massive day. A lot of the XRT, which is the retail ETF, had one of its best days since May of 2025. So we had a really strong day for the retail stocks and we looked at some of those earnings this morning with Best Buy in Burlington that were also pretty good.

Workday beat by 7% on EPS 2.32 versus 2.17. Revenue 2.4 versus 2.4. That was in line with expectations. Revenue is up 13%. EPS is up 23% year-over-year. Workday is up 2.68% after hours.

Uh Dell is up 2%. No, it's up 1%. Don't have their numbers. Clean Sparks up 9%. I'll try to get Clean Sparks numbers and see what we've got there. Nutanix also had earnings today. This is another software company. They were in line with expectations on EPS 41 cents versus 41 cents. 670 versus 676 million on revenue. Revenue was wow. Nutanic's down 11%. Revenue missed by 1%.

Dell's up. Are we up? Oh, we got a pop. We got a pop. Let's see. Dell's up 5%. This is the big one. This also has implications for server racks, SMCI, potential Nvidia demand, etc. So, that stuff is important.

Cleansspark, by the way, they missed on EPS by 100%. Street wanted 44 cents, they came in at zero. They missed by revenue by 2% but Street somehow is not too upset. Zcaler just went red. We'll get those earnings in a second. Zcaler down 7%. Dell, it was up six. Now it's up two.

Zcaler beat on the top to bottom. Beat by 12% on EPS. beat by 2% on revenue. Revenue is up 26% year-over-year. EPS is up 25% year-over-year. 7.88 versus 7.73 on revs. 96 versus 86 cents on EPS. So, Zcaler at double beat, but still down.

Dell, I have their numbers. They missed on revenue by 1%. 27 billion versus 27.2. They beat on EPS by 4%. 2.59 versus 2.48. Uh, that's a beat and a miss. The stock is up 4% right here.

Let's see the guidance. The guidance is probably the most important. Dell sees fiscal year 2026 adjusted EPS midpoint at 9.92. The street thought it was going to be 9.55. That's bullish. And then fiscal year revenue for 2026. Wow. They're saying 111 billion on the on the low end. Street thought it would be 105 to 109 on the high end. 112. So, they're beating by at least three billion on revenue for 2026, and they're beating by about 40 cents, 35 cents on EPS expectations for 2026. Yet, the stock is not really reciprocating as it's trying to hold a 2% move, but still relatively red. That's decent guidance, dude. And we know their guidance was going to be good based on the investor day they had a couple weeks ago.

>> Delivered a mixed report. Earnings came in strong at $2.59 per share, beating expectations. But revenues of 27.01 billion came in slightly light. Gross margins though 20.7% beating estimates despite these higher memory prices. Many concerns about that going into earnings. The story though was really about the split between their two main businesses. The infrastructure solutions group that's servers, networking, storage that it beat estimates, but the client solutions group which is PCs and laptops fell a little bit short. Dell raised guidance across the board. They're now expecting full-year revenue of 111.2 to 112.2 billion dollars. That's well above Wall Street estimates. And then the same thing for the earnings per share guidance. It also came in higher at $9.92. And lastly for AI exposure, the CFO saying in the release that they're raising their AI shipment guidance to roughly $25 billion, up from the previous $20 billion target. And I'm also seeing just on the headlines that Dell is going to be working with Iran, which is they operate data centers in Canada. So perhaps there's not really a market reaction in that stock, but the two will be working together to build data centers in Canada.

>> Iran flat, I think we already knew about the Iran Dell announcement a while ago. Um so you probably wouldn't get a crazy market reaction there, but again, these are some pretty good earnings by Dell. That's up 2%.

By the way, CleanSpark, I have the actual numbers right here. CleanSpark brought in 766 million of revenue. That's up 102% year-over-year. Um, net income is 364 million versus a net loss of 145 million. CEO said, "We are evolving into a comprehensive compute platform that is prepared to optimize value from both AI and Bitcoin workloads. Our deep expertise in power procurement, infrastructure development, and efficient scaling gives us a unique advantage in meeting surging global demand for compute." They also just closed that convertible note transaction a week ago. So, uh, market likes it. CleanSpark right there, up 7%.

>> What we're talking about the second, third, fourth derivatives are just starting to play out across the AI revolution. I think those that call it a bubble, you know, it's easy to call it a bubble because you don't see in the spreadsheet. I believe this is a tech bull market. It goes on another two years. Look at Alphabet is another example. New York City cab driver was bearish in Alphabet to start the year. Now look, because the reality is AI is a tailwind for them. We're seeing that, you know, even with Broadcom and, you know, everything we're seeing on the chip side.

>> I mean, yesterday the president signed an executive order for Genesis mission. This is the big AI project that is going to hearken back to, you know, the post-World War II years of Manhattan project here. Is there a government back stop here? Is that one more reason why you should be buying into this bull market for AI?

>> Yeah. And look, I mean, as we spend so much time in DC, the reality is for the first time in 30 years, US is ahead of China when it comes to tech and when it comes to what we've seen from big tech, I think there is a government backside because the reality is is that it's led by godfather of AI, Jensen, Nvidia. It's led by Microsoft. It's led from what we see with OpenAI. And look, the worries about the too big to fail and some of the concerns we are still, like we talked about, we're top of the third, maybe one out in terms of this AI game. And I think we have two more years left in this tech bull market and it that really continues to be the core here from all of our checks.

>> I just want to go back to Alphabet as it does trade at a record high right now and that is how much of a game-changer is Gemini 3 and how quickly is the technology changing in general in terms of winners and losers like how to gauge that how to think about that as an investor?

>> Yeah, because back was against the wall for really for a few years. Now you're seeing a major change there from Gemini and ultimately I think Apple that's really going to walk down the aisle with them from a Gemini partnership that's going to be their AI piece. And then you look what's happening on chips. You look at the sum of the part. Look, I could argue Alphabet, you have another $80 upside relative to the AI piece that's not factored in yet into the story.

>> I mean, if that's the case, you got Google at a $400 stock, which would be quite incredible. By the way, Microsoft as well, barely up on the day. I mean, if we're going into 2026 with Microsoft, Amazon, and Meta trading at some of their lowest multiples in years, definitely for um Meta and Amazon. Microsoft just started getting into that cheaper category given it was basically at like 520 for the majority of the year. I mean, is the plan for 2026 to just go long the three most undervalued Magnificent 7? Like, is that the plan? Because I don't hate that plan. That that that makes life pretty easy in 2026 if like you have to buy three cheap Magnificent 7s, Microsoft, Amazon, and Meta, and you can kind of just sit back and chill.

Uh Urban Outfitters. Wow. 17%. Guys, if you've been looking at the retail earnings today, they've been really good. And that is going against the narrative. Again, XRT, this is the retail ETF. It was up 5% today. That is going against the narrative that the consumer is weak. If the consumer has money to spend at Urban Outfitters, maybe they're not that weak.

>> Hi, we're going to add this to another good quarter for retail shares popping here. 15 almost 16%. Urban Outfitters earnings coming in stronger than expected at $1.28 compared to $1.20. Revenues also stronger than expected 1.53 billion. Consensus was 1.47 billion. Third quarter comparable sales up 8% well better than the 5% expected. Urban Outfitters. So just that brand, the namesake brand comps up 12 and a half%. That's three times as good as what the street was.

Bro, same store sales comps up 300%. Is this all Christmas or this has got to No, this is Q3. This is not Q4. This is Q3. This this was July, August, September. This has been a hell of a day for these retail stocks. Burlington, Best Buy, now Urban Outfitters. I mean, this really does go against that consumer weakening narrative, at least for some of these stocks.

By the way, HP just had earnings. They're down 4%. Uh HP beat by 1% on EPS. Beat by 1% on revenue. 93 cents versus 92 cents. EPS is flat year-over-year. Revenue is up 4%. 14.6 versus 14.4. That stock is down 5.3%. After hours.

>> uh John for the fourth quarter HP reporting earnings in revenue that beat revenue tied to personal systems and printing came in higher than consensus but the first quarter guide is weaker than expected the company also announcing a headcount reduction of 4 to 6,000 jobs and total cost savings about of a billion dollars by the end of fiscal 2028 tied to the broader AI adoption CEO Enrique Lores telling CNBC that this will help accelerate the company's product development. He adds that his team is taking a prudent approach to its guide. And on the topic of rising memory prices, HP is implementing aggressive actions he says like finding lower-cost suppliers and will also look to raise price of their own products as well. Shares down about 6.5%.

One last thing I want to show everybody. There was a study that Anthropic put out today, some new research saying that current AI models could lift US labor productivity growth by about 1.8% a year, which would be double the average pay since 2019. And we desperately need that to be able to keep up the earnings growth that the S&P 500 is implying.

The study looked at a 100,000 real Claude conversations and found that AI cut tasks by around 80% with some healthcare tasks closer to 90%. Users were typically asking Claude to handle work that would take about 1.4 hours and cost around $55 in labor. All of that automated for like 200 bucks a month or whatever subscription that the company is paying to Claude.

With AI diffusing across the economy over the next decade and labor making up roughly 60% of productivity. The researchers estimate total factor productivity could rise about 1.1% a year. And again, these are just the initial studies. I mean, if this is anything like what the market is expecting in terms of overall labor productivity growth, that is going to be the overall macro GDP ROI for AI that the market has been looking for. And over the coming years, we're going to see if that ends up playing out.

>> Well, it's been a pretty incredible day. I mean 1% rebound 1.5% yesterday. I think let's start with the S&P and get into it. But you warned of some of these moving averages. I think 672 No, I think 675 was your level that we had to reclaim and kind of close.

>> Yeah. So, I posted a couple things today and I I think before we even get into it, it was funny because I posted last week I was like, "Hey, pay attention to the stream or the the threat, I guess. What do you call this? your your ex feed and I'll post a couple things. So, we're we're close right now. I actually really like this price action quite frankly. Like I really like where we are.

But right here, right now, if I pulled up our last week's kind of uh like not this week, but last week's maybe stream. And and and it's it's literally this moment. So last week we're like this moment is the moment when we get here. This is the moment that if you were worried before when we were at the lows at 650s, we're going to get here literally exactly here 675. Here we are smack on the dot. And and this is the moment that we have to say, hey, look, if you were that person who was worried then, this is that moment where you should probably take measures. I don't mean sell, just to be crystal clear. I don't mean that.

But what I do mean is like, hey, you have a reprieve here and now. Are you going to get caught up in this moment? And are you going to get caught up thinking we're going to go back to the moon? I'm overly enthusiastic. Or am I gonna am I gonna forget about and and I'm forgetting about everything that just happened literally, by the way, two two days ago.

Because sentiment has shifted all of the sudden. Um or or am I going to actually say, "Hang on a second. Let me let me let me click a couple buttons here and make sure that I don't feel that way again." So that's that's kind of where I'm at.

>> that said, this looks good. I I think you know, so let me uh let me go ahead and screen share really quick, I guess.

But um so this this this red box here, this is the box that we live in. When I talked two weeks ago about these SMAs or smoothing moving averages, I wanted to be very clear about them not being like quote unquote support and resistance. It's a very big misnomer about like how these things act and they act very much like magnets.

It's like it's magnets and they get price gets attracted to them and that's all that's happening over here. It's like a magnets gets sucked in like with the polarity, right? So pushed away or sucked back in, one of the two. And you can look at that by the by the near-term price action. And as we were coming back in, look, I'm like, hey, look, this is a, you know, a mids pattern, not a top, it's a bottom, um, double bottom. and and we were going to pop right back up.

I think, is for a little peak above, like peek-a-boo. Let's see what what this looks like. And I think that we can open outside of this box tomorrow. But what's going to be important tomorrow is that we actually hold above if we can hold above. And and again, two weeks ago, what I always say and and any other, you know, technical Tuesday, it's always about multiple closes and opens outside of these boxes, right? Outside of this this range, specifically non-farm payroll days.

And if we don't get this, then all we do is we expect to traverse this entire range in short order. And short order is a very specific number. This specific number is two to three trading sessions nearly every time. This is one, two, three trading sessions. It's always this or less. So if we can't do this, expect exactly that. Not joking. I don't expect to go any lower than that though cuz if we don't, which I don't think we will, expect exactly that in two to three trading sessions as well.

And this becomes the box that SPY lives in until we get one of these like one of these ranges to actually break. And that I think is the true story of where we're going. So in the in the near term, while it might feel, you know, overly euphoric or gut-wrenching despair, one of those two, in either case, I don't think you really need to worry.

>> Okay, let's do meta because if we don't, Chris is going to drive me crazy. He has 750.

>> uh I so leaps are very much about um volatility. They actually have nothing to do with price. Um the the value of options is based on the probability.

>> do you think the 630 move today was constructive or how are you interpreting 3%?

>> Uh I think it was absolutely expected and it has actually hit its full target and that trade should be closed from a trading perspective. Um so the trade is here literally here. So that fib remember 50%. So from the swing low to so extreme low to extreme high 2025 or April April low 2025 to August 2025 high when we lost that 633 low. This was a pivot that we've been talking about on this show and we said hey look you lose this 634 level you have an extremely high probability of getting to what chat probably chat probably knows but again if we had TT playlist it's right here in all its glory it's 585.

And the inverse is true as well there it is. Right? And the inverse is true, but it stops. Right? And so the inverse is true is over that that 618, 595, you should get right back to that 633. Now, these statistics do not change. And so that there in lies the problem. So that meaning that that if this does not come back over 634, then you are going right back to 585. which is why this trade as a trader should be closed and because that is a very clean risk-reward trade as a trader.

>> Nvidia, man.

>> I got it. Because you have it so clean. Here's Nvidia that we did last time and I think I had this literally this is pre-earnings. We're we're looking at it. We're like multiple times. Boom. Right. So there's what I drew. This is two weeks ago right here. Up down. This is just under 200. That's the bearish retracement. Here we are just under 180. And I actually drew this potentially coming down slightly lower. So we're done with that.

Bears stepped in with a little bit of aggression. They sold off and now we're actually having to deal with this, oh well, do I want to sell Nvidia to buy Google, which I don't really know is something that you actually want to do. The the dips are getting bought slightly little by little, but they're not they're not getting bought with strength to actually push it higher.

>> Agreed. Okay. So, let's do Google then. And I want your reaction as a technician to uh I guess just do you think it's it's overextended here?

>> Oh, overextended is a I mean on the day it's uh you have an what's called an exhaustion candle. So we have we have definitive signs of exhaustion on the day. I took a short trade today and it was Google.

It's just like, oh, okay, well, this is simply exhaustion. It's not that big of a deal. It's um so and by the way I was like shocked at how expensive these like contracts are. It was just like, okay, well, this is the first day that I'm seeing any kind of sign of weakness. And so what I just did was I marked the pre-market high and I marked the pre-market low.

>> AMD

>> AMD easy. So 195s was the level um that we were looking at for potential liquidity grab and then and then from here was 185 sorry um but what we did was we outlined what structure would need to look like and structure would need to look like this. So step one unfortunately happens very fast. If it cannot get back over the 50-day well this is just not happening right now.

>> Um, Amazon.

>> Oh, I still like you know, Black Friday is coming this week, right? Amazon should do well with Black Friday. Yeah. Yeah. I think that we were all Well, so I say we I know that you and I have been buying this dip on Amazon uh because she's Amazon. So, we are positioned to capture this. I I I think we're good to go. Uh so today actually closed above the 50-day. Dude, we're we're going 236.

>> do we have it? ETH.

>> We should have it. Okay, this same one. This level here is 26 two two weeks ago. Look, TT pays. This is two weeks ago at 3128 whatever the arrow. Can somebody screen cap this? But here it is. Two weeks ago. We're up here. I'm like, this is where we're going very likely right into this little box. And I think it was like extremely explicit. Drew the whole thing out. This is what we're going to look for. That's actually what I'm still expecting.

>> Okay. Uh Tessy

>> Tessy I think uh no change from the last time. I think 415 is still level. Uh I think that this kind of hits its head.

>> SoFi.

>> Shoot. 24s. There it is. It actually got a little deeper than 24. 23 and a half. So, I was thinking 24s. Looks like that was just to open below 24 and insta bought up on that Friday open. And here we are. So, we're right back. Um, also back to that resistance level.

>> What What are we thinking about Hood?

>> I have I have pretty clean like thoughts on Hood. Okay. Um, so I mean just because where we are. So again I think that so first of all we have to see structure and so I think structure is is uh we're kind we're far away from seeing structure. That's for sure. The spot that we got to was the first time that we got to this area in in a long time. I think it was important. Right. Um the next the next level, which is what we literally just hit our heads on right now, super important.

>> Palantir.

>> Oh, so here's a channel on on Pilly, but downside channel. It's It's got bought real heavy 140s here. So, remember this this cohort of buyers stepped in actually pretty heavy uh again today, by the way. Um I even traded this one today. Palantir is uh is acting very well. I will say this acting acting right. Um unlike in the past sometimes like this volatility was so crazy things have calmed down. She's pretty cool collected and has a lot of structure to her as a as from a from a stock perspective right now.

>> Okay. Okay, we have a couple more to do on our mains, then we'll get into the rapid fire rocket lab.

>> Hey, my one my 38 buy is still holding. It's all I know. I didn't put a stop loss on that. Do you put a stop loss? I I What's a stop loss? I kid. Um uh no, 38 is good. And actually, yeah. So, so just like this area now I want to see what it did over here. I I again, so I think we we pop up tomorrow morning. A lot of these things might look really green, but it's after tomorrow. So half day tomorrow.

>> Nebius.

>> Okay. So 90 94 94 and a half. It's still the same level 95s, right? Um if we can get over that then I mean it's small little chunks but we are we are indeed far away from these upper SMAs. It's still it's still where it is. Um it actually hasn't gone anywhere. It's smack in the middle of that reversal day.

>> Okay. There you go. We are done for today, folks. I think we got through about 50 tickers. Again, I'm sorry if we missed some of these tickers, but we got through as we could. Jason's Twitter right there in the chat. You can follow him there. His links are also there in his description. Um, yes, I will be doing a market open, market close tomorrow. Tomorrow is the last day of the week realistically for trading as volume's going to be pretty light.

>> Yeah. So, it's usually it's usually like first half of tomorrow it looks good and then it starts to like settle down real fast after that and then Friday is like just take the day off. Are you gonna stream on Friday?

>> Well, I'm going to be with family. I can't. But yeah, I mean there's no point like again it's gonna close at 1 PM. No one's trading.

>> Yeah. It's like not even not even gonna not even gonna show up, dude. Yeah, but I will watch the crypto markets because I'm interested if a man can get his his his family. Do do they own anything?

All right. That is it for us. Thank you everybody. We'll be back tomorrow. Market open, market close, and uh we'll see Jason next Tuesday.

>> Next Tuesday is adios. All right. Thank everybody. See you tomorrow.