 Welcome back folks, Dow. Dow's up 68, Nasdaq is up 39, S&P's up 15.5. Let's go over to our M.M. Mr. Jack Gleason as we do each and every Thursday at 40 past the hour. You can find Jack every trading day, folks, at MajorLeagueTrading.com. That's MajorLeagueTrading.com. Jack Gleason, what's going on, brother? What's going on, guys? Over here. I'm actually in my office right now, so I've just been trading no longer from home. I mean, I do trade from home now, but I'm trading with a friend of mine in my office here, so back in Chicago, no longer in the Arizona Desert. Weather isn't as nice here. It's raining again today, but I have a couple of different markets that I'm looking at. Now, oil we talked about last week had a nice big breakdown, but- Huge. Came into a huge level that I've been waiting for. That support level had bounced off. I like a 57-20 zone. If you look at the consolidation that we broke out of going back to February, I mean, there was a big called a flag or a pen. Whatever the term you want to use, those highs going back to February 22nd, 25th, even in the beginning of March, retested. So at the 27-50 level, it's really, really watching here. So I've actually won some gold right now as well, which is probably, I know that's the one we always like to talk about, but nice. If you guys look at the continuous contract, do you guys chart on thinkorswim usually, or what do you chart on? Continuous contract and gold. Yeah, the continuous contract. Yeah, so the low of the 21st to that high that we put in yesterday on the 29th, that 50% retracement here is at 12.79 half on the continuous. Okay. That had a really good reaction so far today, which also kind of filled the gap from the rollover to the Q19 contract. And so that would target on a continuation up to 12.95.4. So I'm just looking for a day trade up here to 88.5 here, which I'll be hopefully filled soon. But other than that guys, this S&P, one of the bigger levels I'm watching here is this halfway back short from the 50% retracement from the high of last Friday, which is 28.42 to the low, which is 27.66 quarter. That halfway back, that divided by two numbers going to be 28.04, which is actually just below last week's low. So I'm really paying attention at 28.04, whether we get up there today, possibly tomorrow. I see that it's being a really heavy resistance level moving forward. It's also the close of that first breakdown day on Tuesday. So I'm really going to be paying close attention at that, but I don't really have much support to like 27.40. So unless you know the shorts really, really get squeezed here, I just see this market trending lower. Yeah. So this is a new phenomena for you, isn't it? Yeah, you have, right? Well, Lenny, he'll never trade in a bear market before, right? Yeah. Well, seriously, it's pretty cool, right? I mean, that's the bottom line. There's always some moving these markets, you know? Yeah. I'm just so used to trading on the smaller timeframe compared to probably most traders who are part of my generation. A lot of traders that I know, they kind of just trade the higher timeframes and they only trade long or, I mean, that's the only thing that works, especially if you're a stock trader specifically and you're a swing trading. I mean, very rarely are you finding, you know, you're just betting against, betting you've got some market with the stocks trending down. There's gold popping up for me. It's probably because I jumped on the show. Probably. No, totally. Yeah. No, this, I like how gold, we were just talking about it before you get on. I like how this thing is setting up, man. You know, all's you need now is the dollar to fall apart, which it hasn't yet. You know, it's sitting at those highs, the dollar index, but there's, you know, there's some action there because silver with silver did, you know, yes, a day before yesterday, it rejected that lower price. I mean, silver's ready to jump off the cliff. I haven't looked at silver in a while, but don't look at it. It's don't look at it. Actually, silver's holding the halfway back long from the lows of Tuesday as well. So that's going to target up at least 1449 here. I mean, that's pretty close to getting hit. I'll probably get hit today. But what I'm really looking for actually is all this oil inventory report to rip us up higher. I mean, what a reversal yesterday. We traded all the way from 5940 down to the 57s back up in the overnight session, getting up to 5960. I mean, the volatility in oil right now, that's my go-to trading market. Just had a lot of range expansion, big, big reversal candle yesterday. So I'm hoping we can continue, continue higher from here. I might be crying if we don't. Well, you're going to wait and see the 11 o'clock numbers, right? Yeah, wait for, you know, it's funny. I was sitting there and I forgot they were 11 o'clock and we were rolling around. It was, it was 1030. I'm like, all right, here it comes, here it comes. And then I was like, what's going on? Yeah. We've done that. We've done it. Exactly. Exactly. And those gas numbers come out. That, that the gas, you know, there's like 115 billion cubic feet. So they were looking for a hundred. So you had gas pullback about two, three, four pennies. Yeah. Gave it up a bit. Yeah. Yeah. No doubt. I don't trade too much gas. You guys trade a lot of gas. It just seems like such a size to win on it. Don't trade it. We like looking at it on those inventory numbers, just like that. So that's usually Thursday, 1030 Eastern time. So we'll look at maybe some volatility, but as we're just looking at it, I mean, it's been a pretty calm market for such an ugly chart. I mean, it almost looks like the VIX. If you go to the daily, the way it popped in November on that big short squeeze. Yeah. Yep. Morning. But yeah, other than that, it's just, it's a my cup of tea. Technically, fundamentally, gas is just a strange cat, man. I mean, it could be like 10 below zero in the winter and gas still goes down. It's like, really? Yeah, so no doubt. The widowmaker, the widowmaker. That's a fact, man. There's no doubt about it. No doubt about it. This S&P is going to get interesting here because it looks like, you know, we just gave up like nine points with 99, give up seven points, give up seven. Give up seven. You know, it's just, if this thing can get back below the value areas for today, so value area high in the S&P is, let's see, it's 2785. If we start dipping back below into 2785 later on the day, like we can't hold about that. We're going to get swoosh, you know, at least back down a low 70s. Yeah. So that'll be something to watch later today if it ends up playing out that way. But I'd like to see if we can hold about these overnight highs at 92, maybe we'll get up to like 2804. That's what I'd be looking for. And then we'll see where that, you know, what's intriguing, Jack, is that if you take a look at the oil, a continuous contract in oil and the S&P, you know, oil is like a head of the S&P like last year for about a week. So it's going to be intriguing, you know, if you take a look at that, you'll see what I'm talking about. Oil seems, if oil is going down, S&P wants that. Oil is going up, S&P seems to want to go up. So it's, you know, it's like, okay, you know, it's pretty cool watching how that thing shakes out, man. So where this oil contract goes today, I think it's going to be important in the market in general, do you know what I mean? Yeah, I can see it. I can see it definitely leading the move. I mean, you know, oil really started squeezing yesterday at noon and then S&P kind of got that late day squeeze yesterday. So I mean, I think if we, I do think, I normally don't try to correlate those markets to, but in this specific circumstance, I think, you know, just on a shorter timeframe, if oil moves down, I can see the S&P getting below that value area high and then rotating back to the bottom of value area low to 27.72 area. But that will be the trades I'm looking at here today. And then, you know, like I said, this gold, I really like the way this gold is reacting that totally. Welcome back to Chicago, brother. Hey, I'll catch you guys next week. Take care. You have a great one. It's safe when we look forward to speaking next Thursday, Jack. And listen, folks, you can check out Jack every trading day at majorleakstrading.com. Tell me how you got to come right back folks, 1,041, 633. Yes, it's a 12 and a half.