 Welcome to GLASSET News. Today, instead of doing a live stream, I want to talk to you about why I think is one of the culprits for why the market seems to be the chop sideways or take enormous or small dips throughout time, specifically when there's certain news that comes about. And I'm going to make this short and sweet. And so we're not going to go over 20, 30 minutes. That's going to be about five. So let's just jump into it. This is the reason or one of the reasons why I think there's a problem. So if we take a look at the markets, I think you already know this. Today is the 22nd. It's about 10 a.m. here, mountain time. I'll pass with Texas time. And we saw quite a bit of a drop off yesterday. Bitcoin down 6% in 24 hours. Six. And of course, our market cap was doing pretty well. 2 trillion, 2.1 trillion. Then all of a sudden just seems to drop off. Now there's some winners around here. I don't need to tell you that because you check your portfolio at the time. So the question is what the heck happened? And before I take a look at the correlation between S&P 500 and NASDAQ, I want to play this video. This is from FastMoney, CNBC. And this first minute and a half or so, they're going to talk about exactly what happened. So just take a listen. And the next part is going to be very pertinent to why I believe that this market will either chop sideways or continue to go down throughout 2022. Not that there can't be a good rally, but I think this is something that you need to know before you do any trading. So just take a listen. I mean, the picks was up 11%. But if you look across sectors, some of the destruction was awful. In fact, I listened to those Powell comments. And to me, again, evoking, and in a glorious way, Paul Volcker and talking about a guy who basically crushed and rubbed out inflation in a way where actually there was a sense that you no longer had to worry about that. It sounds like that that's his goal. And I would go back to Van Halen again and say their next album, I believe was called Diver Down. And that the minute we heard this, the minute the bond market got up to 295, you absolutely had a case here where the equity market sold off. And again, the destruction wasn't just in retail, wasn't just in some of the high tech names. It was look at the resources space. Look at these are demand destruction type reactions from a market that listened to Powell again, a Fed that hasn't hiked 50 bips since 2000 hasn't gone back to back on meetings since 2006. I know the Fed is telegraphing, but people seem to be taking this for granted. This is not insignificant. So yeah, that's what happened yesterday. And we had known about this. Everybody's talked about it drone Powell come out and said, Hey, we're going to raise rates. And he's gone from a little bit a little more hawkish, we would say, right. But the thing is that everybody said, don't worry about it. Everything's priced in. We already know it doesn't matter if he does two hike rates, six hike rates, which he was planning on doing actually, it's even more than that now, six, seven or eight. It's all priced in. It's all priced in. The thing is, if it was all priced in, what happened to the market? So the next person who's going to talk, this is Steve Grasso. And before he talks, I'm going to tell you this is who he is. Steve Grasso, Wall Street, New York Stock Exchange pedigree. He is also the CEO of Grasso global. And if we take a look here, begin his career, career work on the floor of the New York Stock Exchange 1993. So he's been around and he's managed that some pretty big profile. So the question is, is he's going to be asked is, well, why did this happen? Why did the sell off? And I think it's really important to what he says. So I'm going to play this, just take a listen. And this is the crux of why I think things are going to just chop sideways for quite some time. I think it's, you know, guys said fair, fair warning. Maybe it's fame warning. I don't know if they're really going to do what they say they're going to do. And I said, I said this weeks ago to me, it's almost as the more transparent they become, the more I second guess what they're actually saying. Why do we sell off? Because it's a knee jerk reaction. And most of this stuff is done by computers versus human beings. Because as soon as the Fed speaks, you have tape reading algorithms these days that actually sell the stock ahead based on words versus based on actions. So I would expect the market to actually bounce back tomorrow. But I do think, and General Mills has said this, markets have been jumping in a weird fashion. And it's not a real rally. And Gaya said this, I think Tim has said it as well. It almost feels as if it's a synthetic bounce where people are looking to sell those pops versus buy those dips. So yeah, a couple of things to break down there. That was a great point Steve said. Now I knew about bots, I understand there's a lot of trading bots, especially in crypto and even the traditional finance. But when I heard about this about the algorithm, as far as tape reading, just as soon as something comes out, now it makes a lot of sense. Even though there are some rational people in the market, people potentially like you and me, it's not about who is rational and who is irrational. It really comes down to the bots. And of course, once the bots start to get in, it's a cascade effect. And you have more people who may be rational and see what's going on, especially TA traders, and go, you know what, this is sliding down, I need to sell off, I need to sell off, I need to sell off. And it just keeps happening and happening, happening. But what Steve said right there made a lot of sense. And the second thing he said was, I believe that the market will actually rebound because it's just bots. And there's a lot more rational people out there in the market. Well, that's not so much the case. If we take a look at S&P 500 right now, it is 10 a.m. here, mountain. That means it is high noon over on Eastern time. So the market's been open for about three and a half hours. So here's what we got. S&P continues to decline. And also, NASDAQ also continues to decline. So the question that remains, how far are we going to go? Nobody knows. So the thing is, before you make those trades, before you do those things, this is not financial advice. This is just financial opinion. I think you should really take a look at the trading that you are up against and the people that you were up against and the people that actually go. I'm not a big trader. And I think it makes a real good case for just dollar cost averaging. I can't beat bots. It's very tough, especially the ones that do microtransactions millions per second. However, market goes up, market goes down. I've been here for a long time. Time in the market, I think is more important than timing the market. And that's it. I want to make this short and sweet because every time this comes out, I will probably replay this video so people can actually see it. Let me know what you think about that in the comment section. And thanks for stopping by. If you like today's video and give it a thumbs up, also consider subscribing. We do this every single day. And that is it for today. So thanks so much for watching. I do appreciate it and I'll see you on the next one.