 Hi, and good morning. It is August 2nd, talking to you from New Mexico in the United States, where everyone in the United States woke up to the news on Fitch and the downgrade with credit, which of course those who know me for a long time know that with commodities, particularly oil, that we're about to talk about heading north, and sugar futures, which I actually heard on Bloomberg for the first time, and again something I've been talking about for about three years now, realizing that certain aspects of inflation cannot be necessarily controlled even with the higher interest rates and what we've done with a $30 trillion debt crisis is really basically get Fitch involved. So here we are. Let's take a look at the crude oil chart. This is WTI trading at $81.86, and if you've been following along week after week, we've been talking about the bullish bias, starting with that great reversal back in June when we talked about Goldman Sachs actually putting the sale recommendation right here at the Lowe's, and that we've crossed both the 50 and the 200-day moving averages. And of course now we have cleared all the work that we have done since January. We are on new 2023 highs. So what do we do from here? First of all, we like to look at different levels. So at this point now we can pretty much say that we're looking at around 8065 to 8067. Let's call it 8065 to 8070 as our support to hold. And we can even tighten that up based on this morning's action to say 80137, which would be the closing level from yesterday. Also if you go back here you can see 8148. So let's start with the initial support 8135 to 8148. If it breaks on a short-term basis, then I would probably say maybe we'll see a dip down to around 8050. I'm not looking for this to break 80 if it does, then obviously I would say that maybe this was just sort of false alarm and oil prices will come down. I'm not seeing that. In terms of the upside now, with the high that we have here today at 80246, it looks like 8243, excuse me. 8243, if you just follow my cursor to the left, the last time we were at these levels was back here in November. And the high on that day in November was 8359. So I would say we continue to hold around 8150. We get through 82, and then particularly today's high at 8243. I would be looking for this move up to around 8350. And if it keeps going from there, if we start to go somewhat parabolic, obviously on the bigger level we're looking at 8586. And on the smaller level after 8350, our next real area of support, we're just looking at these candles right here, would be somewhat at around 8460. I just want to show you one other chart on this that I think is interesting because it has our momentum indicators. And on the momentum indicators right here, what you can see is we have actually had a breakout. So we can see that the momentum is strong as the price is strong. And therefore, at this point right now, I'd be more of a buyer or dips than a seller of rallies. Let's take a look at the gold prices here. This is gold futures. Of course, everybody was getting super negative here when it was crossing down under the 50-day moving average. We stayed the course. We had our stop. We're long at much lower levels. We're long basically at around 1900. And of course, the low this day was at 1941. 1930 was the area we were looking at support. But now, of course, we've seen the pop. Then again, we have a little bit of a potential reversal high here with a close below it. And we're getting, all we're getting right now is kind of an inside day. This here, this particular bar right here is interesting with the sell off with the yields going up. But with this inside day right now, what I would say is if we hold above 1990, that's going to be where we really want to clear. We can get back over 1990. So far today's high was 1992. Then at this point at over 1992, of course, 2000 is going to be your big area. And now at this point, we really do need to clear this 2010 2011 to start to see the move back up. What is interesting about the gold chart here is the momentum. The momentum, of course, these mean reversions often show a top. You can see right here that the mean reversion under the Bollinger band corresponded with this top. Since then, we tried to have a mean reversion to the downside. We couldn't. We went all the way down, tested the 200. The momentum has come back up with a little bit of a mean reversion that failed on this one day and now again proceeded. So we're back over both moving averages, the 50 and the 200, that's a good sign. Now we want to see the momentum get back through this Bollinger band to really continue to see some upside here. What is interesting right now is even though gold is up, it's not up by that much. And of course, that's probably from the stress of not only the rates and the yields, which are still going up, but also the dollar, which is also going up. So keep your eyes on the gold. 1992, the low here this day, 1978, that's probably your initial range right here to play off of underneath maybe another test of the 50 day moving average. And above that 1992, 2000 and above, of course, this 2010 up we go. Finally, taking a look at the S&P index here, what's very interesting to me and I wanted to start with this chart is, again, a mean reversion that didn't work out. We've had a couple of tests here on the Bollinger band. Last time we had it, we had a little bit of a dip was really a three day dip. So that's how strong the S&P has been. But now looking into today, we're back on that Bollinger band, which means that the market could be vulnerable, but yet we have not really seen that proven out yet. What's so interesting about this big red candle day, this bearish engulfing day, is that it can be considered a key reversal only if we break down under that low of $4,528.56. And so far, even with the news, the market is down a little bit here, but not down that much. At this point right now, and this is not the most updated chart, I'm going to show you that, we're down just about at around a half a percent. But I wanted to show you that the momentum could be declining and that could be probably the worst situation for the S&P. If we take a look at the actual futures chart, what's interesting here is that going back to this bar here, we saw that low at $4,553.75. It actually was a little lower on the other chart, $4,528. This is a different, this is an E-mini chart. But nonetheless, to me, what's important right now is we tested down on that low so far this morning by making a new low of $4,552.25 and popped. So for these levels today, here's how I would play this. Number one is, obviously, if we can break down under that $4,555, let's call it, that would be a negative. And I would think we would start to see more pressure in the market and remember that momentum. Of course, looking at the resistance here right now, it's right up at $4,599.00. Let's call it 92 to 93. We get through there, then the resiliency of this market is just stupendous. And I would say we would probably see a pop up to around 4,610, maybe even 4,620. Remember, this is futures. And of course, the ultimate high in the futures was 4,634, even though we did not see that in the actual SBY 500. So again, to give you the levels for right now, as we're getting closer to the opening here, we're sitting right around a pivotal point. And I would say that's 4,570. I would even take that down a little bit to say 4,560. Under there, these lows may not necessarily last. I think our next level of support right here would be 4,525. And then the next, of course, would be 4,500. On the upside, we get through this 4,590 or even 4,595. Keep your eye on that 4,600. And then, of course, above 4,610, 4,620. And again, we can't get new bullish sentiment until we take out these most recent highs. Okay, that's it for now. Hope this is useful information. You all have a great day and thanks for watching.