 Everyone, Lee Lowell here from smartoptionsower.com. Today is Wednesday, October 26th, 2022. Once again, I'm doing a quick midweek stock market update here since I was not around last weekend as well to give the full update. I wanna do this quick midweek update, did this as well last week. So just a quickie here, I wanna show you what's been going on and get you ready for the full review on this coming Saturday. So let's just jump right in here. We always look at the SPY, the exchange traded from the S&P 500. If you follow my weekly videos on what the stock market is doing, you know that I've been calling for or saying that we may have hit the bottom here. Here's the SPY on October, I'm gonna tell you the date right here. This was October 13th, hit a low of $348. Had that big down move, this big bar right here, this one day bar right here, gapped open to the downside and spent the rest of the day reclaiming the down move and finished higher on the day. Big, big move and we've just been going up since. When you have moves like that, we have a big flush to the downside, everyone's getting out and then it turns around and goes higher for the rest of the day. That's a pretty big sign that we may have hit the bottom. More often than not, we may have hit the bottom. And so I've been saying, here's the channel, the downtrending channel since mid-August that it's been enclosed in the SPY. And I said if it can get above the upper edge of this channel here, right around 375 or so, the market should go. And as you can see here, the last few days, we've powered higher. Once it got, and you can also kind of see this W pattern. If you know some technical patterns, you can kind of visualize a W right here. And once it gets past the middle, this edge right here, 380, it's powered higher. So now we're looking at the 50-day moving average, which I have on my chart here. This is a 50-day simple moving average. It almost got to it yesterday, closed at 384.92. So just under 385. Here's the 50-day moving average lurking right around 385 or so. But what happened in the aftermarket yesterday, we are in the midst of earning season. So lots of big names are coming out. We have Microsoft yesterday after the bell. So I want to show you what happened here. So Microsoft closed around 250 or so, but after the bell, we click on the one-minute chart here. We can dial it down and see what happened in the aftermarket. Here's yesterday. Yesterday, the, so Microsoft closed at 250. Earnings came out and it just been dropping lower since. So it's dropped about, got down almost 230 around six o'clock yesterday, last night in the aftermarket. And this is the one-minute chart. So it's been trading since 4 a.m. this morning after closed at eight o'clock last night, Eastern time of talking about. So right now, Microsoft is trading for around $234 and in the pre-market closed at 250 yesterday. So the market is gonna open lower today due to that. We also had Google had earnings yesterday as well, closed right under 105, dialed down to the one-minute chart. And you can see this big move down. Here's the 105 where it closed and about $98 of shares where it trades right now in the pre-market. So Google, Microsoft, I think even Facebook or Meta had earnings yesterday after the bell too. Looks like they closed around 137 and changed yesterday. It's trading around 132 right now. So we've got some of these big tech names that are gonna drive the market a little lower this morning. So let's go back to the SPY real quick. This is where it closed under 385 and right now in the pre-market, it's trading just under 382, right around 382. So we're coming off a little bit. Let's look at the triple Qs because that's taken the brunt of the technology. Right now trading 279 and change. Yesterday it closed at 284. So the NASX down a little bit. So the news items this week and the next couple of weeks is all about earning season. And if a majority of the companies can come out with decent earnings, the market should reclaim today's lower move and start to head higher. Last quarter of the year is typically more bullish. I'm always optimistically bullish for the long run, not day to day, but in the long run. I'm talking years and years. So we had the downtrending channel and also the market's been in the downtrend since January 1st. But I like how the market got out this current downtrending channel. This is where the S&P 500 is the SPY. We're gonna open lower today, but hopefully with other earnings coming out, maybe good earnings, I'm hopeful, the market can get through and continue on higher, get through this 50 day moving average, move up to the 200 day moving average right here and go up from there. We actually initiated new positions in our newsletters yesterday. Both positions we sell naked put options and we sell put option credit spreads. This is a quick video. If you go to our website and you wanna learn about selling put options, download or fill in your name here at our free ebook, Put Selling Basics, go here on the header, put your name and email address here and we'll send you an email with a link to download the copy. Also our services tab. Here's our newsletters or our one-on-one coaching if you have any interest. All right, this quick video today, that's all I've got. Look for the market to come off a little today. We've got earnings coming out, so keep an eye on things and I hope to see you on the full review this coming Saturday. This is Lee Lowell signing off.