 Hey everyone, Lee Lowell here. I just want to make a short video to show you what's been going on I was out of the office Thursday and Friday last week and that seemed to be when the big market moves happened So let's quickly go over what's been happening just the last couple days What you see here in front of you is the the chart of the SPY Which you know is what I I track more than anything else as it represents the market as a whole But let's see what happened in the last couple days I want to dial it back just to show you last Thursday We had the CPI numbers as the inflation numbers came out of the US government And that's really what put the market in a in a downward tailspin last Thursday So let me dial it back to the one-minute chart and let's go back to last Thursday give me a minute here There's a one-minute chart and we'll go back to Thursday Let me just scroll back for a second here And that was on the Thirteenth so let me go to the five-minute chart here So the thirteenth so what you'll see here is This big move right here So this is on 8 30 a.m. Eastern last Thursday There's a five-minute chart so each one of these lines is five minutes worth of trading So you can see right here This is 8 30 a.m. Eastern last Friday last Thursday inflation numbers came out and in this one big bar right here That all the activity happened in that one five-minute bar huge huge drop. This is the SPY You can also see it on the futures. I'm gonna bring it up on the futures, but Big big big move down in the morning that basically is everyone selling they weren't happy with the inflation numbers So everything everybody just sold but what's what's really important to note is on a huge down move like that the market gapped open But you can see early on had some sideways action and then the rest of the day was just all bullish close higher than on the day than the previous day that is a huge Sign telling you that the market bottom and maybe in I've seen this too many times in the 30 years I've been in this business where you get a huge washout in the morning only to see the market completely turn around by the end of the day So here's you know 8 30 in the morning And this is where the market closed at 4 p.m. Eastern that same day big washout in the morning huge huge rally And so that's where we've gone. So that is on here's the daily chart of the SPY This is that capitulation day right here You can see the huge one bar big bar to the downside then rallies back We can also put some volume on here just to see Usually on a big capitulation day you'll have bigger volume. So here's that day right here So we did have some more volume not huge. I would have liked to have seen something like this where it's just the volume Just completely takes over so not huge huge volume, but still higher volume than you know the average here Let me just remove this here So we could have seen this could been the capitulation day Everyone's just getting out selling and then the turnaround So I think that that's a good sign that the bottom may be in you know, nothing's guaranteed But that's a good sign here is that line in the sand 360 360 to that I've been drawing talking to you about so we finished above that and now the market is gapping up this morning We're trading around here's SPY trade around 374 we close around 366 367 yesterday, let's see where we close. Yeah, 366 82 yesterday. We're already trading around 374 375 So we're gapping up overnight. So we're gonna open higher, which is good. Let's look at the futures here for a second Here's the e-mini S&P 500 futures and this trades basically 24 hours a day So we closed yesterday. Let's go back to yesterday's close 4 p.m. Eastern right here So we're closing on the lows and then after the market close the aftermarket hours futures Just went on a tear higher. So that's where we are right now I think you know, this could be could be a good sign that the bottom may be in last quarter of the year October through December usually more bullish Quarter so just keep in mind here. This could this day right here last Thursday. This is October 13th last Thursday could be the capitulation you see that one big washout bar and It doesn't and this in the successive days doesn't come anywhere near this That's a pretty good sign that at least a short-term bottom may be in so right now 374 375 as we open today. This is where the markets can open We're still sort of in this downtrending line if we if we extend the line here Let me just kind of drag this down a little bit we could we could We're gonna open above that we're gonna open somewhere right around maybe towards the very edge of the Line here the downtrending channel. So today could be a make-or-break day It's right right here 375 right in this level could be could be where we'll end up Will it get knocked back down or will it continue higher? That's yet to be seen So this week could be pretty critical. We'll keep an eye on that. All right, everyone That's all I just wanted to give you guys an idea what I'm seeing on my charts