 Insights in the news shaping the markets for that. We welcome in Melissa Armo, founder, owner of Stock Swoosh. Thank you so much for being here. We haven't spoken in a while. How are you feeling about this market? I mean, let's just before I get to some details. I mean, what's your vibe these days? Well, we're selling off and I think we're gonna continue to sell off. We may not go straight down, but the fall of 2023 could possibly be the exact opposite of what the start to 2023 was. Remember, we started out the year very bullish and I was surprised by that, but now we're getting into the fall earnings season starts in a few weeks and the market has done nothing but sell off the entire month of September. Even the one day rally that we had on Monday went absolutely nowhere. So the market is upset about a lot of things. You can blame it on interest rates, the Fed. You can say the possibility of a government shutdown. You can say a lot of things, but unless the Fed changes course, which to date they're not going to do, they've already stated they're gonna raise rates at least one more time between now and the end of the year. I think it's gonna be problematic for the market to hold up going into the close of 2023. Right, understood. So at this point now you have some things that are the overhang, the headwind, whether it's more rate hikes from the Fed and a government shutdown that's getting closer and closer. Right, and I think there's the problem, Nicole. When you look at what's happening right now with interest rates for a 30-year fixed mortgage with someone with a 707.25 go score, they're paying over 8% right now for 30 years. That is gonna have a continuing impact on the housing market. And then it's gonna also trickle down into other markets and other retail places like Home Depot, Lowe's. You saw Target now as closing stores. Many of these companies that were hoarding employees after COVID, 2020, 2021, are now gonna start laying people off if their sales decline. So I think it's gonna be a very interesting earning season, which starts again in a few weeks to see what is the outlook for many of these companies for the calendar year of 2024. And on top of that, you also have an election year. So I think we're actually in the start of a mild recession, whether or not we go into a real full blown recession in 2024 or a deep recession 2024 into 2025 really is gonna depend a lot on what happens with layoffs, what the unemployment rate turns out to be, whether or not the Fed continues to raise rates despite knowing what it's doing to the economy. And I mean, you'll have to look across the board. People are paying more now for everything. Inflation is still a problem. And that's why the Fed raised rates to begin with, but it really hasn't helped enough as far as I'm concerned as a consumer. Yeah, so let's get to some stocks. First up FedEx, you had some thoughts there. Well, FedEx had a nice rally for about five minutes. And then unfortunately the day that FedEx had reported earnings, a market fell. Very difficult for anything to hold up against a selling off market or if we turn bearish. But FedEx then had a nice big fat rally a couple of days ago, a few days after the earnings. So if you really wanted to do something or buy something or go long-term out, FedEx I think is holding up the best of the retailers so far. I see. And then you're a little bearish on some of the other things such as Netflix. Netflix obviously has had its problems. And I think again, their earnings are one of the first to report when starting season starts. I think it's the third week of October, but they had a massive, massive, massive sell-off in the last week, even bigger than the market because they're having problems obviously with the writer strike and the actress strike. Now supposedly they've come to a deal. We'll see if that actually follows through. But again, if people are cutting back on things, paying for Netflix is not like paying for food. You have to buy food. You don't have to buy Netflix every month. So people are gonna start cutting back when they cut back on things and Netflix is not a necessity. Yeah, well for some people it may be, right? I always said I'll eat Cheerios so I can get all these great things from my dog. I mean, people's priorities can sometimes be a little wonky, but anyhow, but I agree with you. I understand what you're saying fully. And last but not least, bearish on the SPY and Oracle. Tell us about those. Well, Oracle's been falling. Oracle had earnings a couple of weeks ago fell that day. Then it tried to recover, tried to rally, couldn't get going anywhere. And of course I consider Oracle in that bucket of market stocks. So let's get to the S&P or the SPY which is ETF for the S&P. One of the reasons that I'm so bearish on the SPY and more so than even the QQQs because the Qs have been trying to hold up with some good news with Apple, with the iPhone sales and then of course, Navidia's with the Qs. The problem with the SPY is you have the financial. So you have the financial sector incorporated in with the S&P. And I do believe that again, earnings season is going to be critical for the banks because they start out earnings season but I think there's a possibility that some other banks could go under. I'm not sending any large banks but even small banks between now and the end of 2023 that would be unexpected for people expected for the market but with rising interest rates, it could happen and don't forget. We could see some defaults with the student loans. So that is a problem and that's gonna hit banks too. So when you look at it overall, you gotta look at the financials. It's gonna be very difficult for this SPY to continue higher if the financials are falling. There's a very, very few good banks that are holding out. JPM is one, Goldman's trying to hang on but a lot of the bank charts just don't look good right now and haven't really the entire year. Give me 10 seconds on Disney. Remember when that was a darling hitting new highs and you loved it and everybody loved it? What do you say now, quickly? Well, I mean, that's trying to recover too but again that goes with the bucket of the other things that people are having to pay extra for. If people don't wanna pay extra for these channels or services then they're gonna lose subscribers and obviously they're gonna drop. Disney has had a lot of problems with DeSantis in Florida. Whether or not they're gonna overcome a lot of those obstacles going forward I think it's gonna depend on what happens with the election with DeSantis as well. So you don't like it down here. Okay, Melissa Armo, the stock swoosh. Thank you so much. Great to see you, Melissa.