 Man, it was a crazy day, and we're talking major reversals in all directions clarity in one area only created Really smoking more questions in another area. Keep in mind. There were some winners energy surge In fact you're rallying to its highest level in 2018 Utilities also a little bit higher and that is investors seeking some safety there The Dow Jones industrial average though was indicating down 200 points early This is early pre-market open and then the White House said Congress would vet potential Chinese investments in the United States And and you know via a bulked-up sypheus process. It's already in place. It already works Soon after that the Dow's higher in fact at one point We're almost 300 points higher and then the rally began to fade initially I think it were comments that Larry Cutlow made on Varney and company Suggesting that China hasn't really done much to soften their stance But then later on it really seemed like something else was spooking this market first of course You have to tech lead and ask that it collapsed and then the S&P 500 slipped into the red and finally the Dow Which benefits most from global trade? It stumbled. I think professional investors probably looking at that yield curve It the ten and two-year yield they both declined but the gap between them got closer That means the dreaded inversion is closer and just all you have to know about this is according to Wall Street Inverted yield curves are considered a surefire predictive recessions I personally don't see a recession not this year or next year But something is gnawing at this market Melissa RMO stock solutions going to help us with that along with David Nelson Belpoint asset management chief strategist. All right, Melissa. What's what's gnawing at this market? Just the uncertainty of what's going on with tires as we've discussed before the market doesn't like tires The market loves trunk, but they don't like tires and we don't know what's gonna happen any news It comes out whatever Trump tweets anything about China or tires It creates a havoc and the market just this morning's news was pretty solid news that that this whole thing that I think I think this whole thing this week Unfortunately, Steven Mnuchin made worse when he suggests that we were gonna stop all foreign direct investments But you know the idea that at least Congress is gonna be in charge of this part takes away The element of surprise at an element of a wayward tweet, but we were down if you got up I was up earlier this morning 5 a.m. We were down we were down big time So my point is we made a 500 point reversal up. Why did we lose it? Well, I mean just what I said the uncertainty of everything every time somebody talks The man that was talking on Varney every time somebody says something nobody knows what to do some people are up The market's been rallying stocks have been rallying the tech you talked about people are taking profits. That's what's happening It's profit-taking David. I think it's less about policy and a lot more about the message and the way the message is delivered You know in every war in every strategy the generals are gonna have you may be opposite opinions But eventually the commander-in-chief makes the final decision that conversations could should take place in the White House And not in the press and unfortunately that's where it's taking place and that uncertainty is causing people to hit the cell You don't feel that maybe Something else could be at work here and that the terror thing is a easy Reason you know let's face it's with the advent of financial television every day There's got to be an official reason but sometimes we learn later other things were at work There's obviously something wrong right now because you got big diverges is out there You've got estimate revisions going through the roof You have fed officials tripping over themselves as to just how high the GDP will be yet Global cyclicals versus defensive right now crashing through the floor. There's something wrong one of those two pick one of those two charts is wrong Red flag a yellow flag. What's happening for you right now? I give it a yellow flag right now. We're in purgatory right now and investors aren't sure what which way we're going You've been saying this is the way it's gonna be throughout the summer So are you still feeling that way and how vulnerable are we to breaking some key support numbers? We're pretty close. We're pretty close and all the indices right now and as I said before the banks are horrible I mean if you look at Goldman Sachs today, man, that stock is so close to breaking major support almost in a downtrend I mean, I haven't seen it looks as bad and so long. You're not gonna have the market You're not gonna have a strong market without the financials. You need them to lift the market. I think without a doubt That's minimum. You need both tech and financials. Those are the two main And financials have been a terrible condition all year long. Yes. Thank you both very much Well, the cycle of fake news and how the public receives the media has become something of an epidemic We're gonna break down an astonishing news study that you probably already knew but it's gonna be fun talking about it anyway