 Welcome back folks. That was down to 81 you get the Nasdaq off 83 S&P's down 25 Let's go over to our man. Mr. Jack leasing from major league trading calm I think he's got that surfboard out and I think a couple of the instead of shocks biting them out here I think a couple bears a bite. Oh boy. I Wish guys I'm back in Chicago, man I'm dropping a tear for you man. Oh my goodness I was only there for four months that I definitely should have stayed for six So no last weekend actually when you guys call me I was at a volcano Yeah, I said it's all but yeah, I am back in Chicago and I am not happy about it Man, that was an incredibly quick four weeks out four months. That is my flu Because I can't believe it man the markets, of course It was like I was thinking yeah, maybe we'll get some calm markets Of course, it's probably been the craziest market volatility wise that I've ever traded I've been like trading for ten years. I mean, obviously when I first started learning It's not exactly to the extent that I do now, but it almost seems like every Thursday you guys call There's a crazy move. Once again, there is, you know, big moves here today That I'm short some Nasdaq futures from the overnight session. So I'm having a good day myself I got supports coming in at 70 20 But the one of the things I really wanted to go over with you guys here today is just the S&P on a daily chart Just because you know, if you look if you really look at this market, this is the first break We've had since the uptrend has begun We have not had more than two consecutive days down since the lows of December Was December 26. Yeah, right. Yeah, depending on if you got the extended session turned on or offer, right? But so, you know, we're looking what's like going to be now our fourth day to close with a new low Or lower than the previous close So a couple levels that I think everybody just needs to be aware of if this selling continues where we could go And there's two things I'm watching that are deeper pullbacks. It's the halfway back for the year you know, which the low of the year right now is on the fourth of January and That load a high believe it or not The halfway back is going to be all the way at 26 26 quarter now I do think that will trade at some point this year the halfway back for the year We'll trade at some point this year whether that's right now or in three months or in, you know, right before I do not know but that 2626 really lines up well with the consolidation period of the last week of January before this leg up that really began on 29. Yeah So that's a really important level I don't know if we'll get down there But it's something that maybe could be a gravity zone moving forward and then of course the full halfway back along which would be I think a little bit of a deeper pullback that's gonna be something everybody's looking at and that's at 2568 using the low of 2316 from the 26th of December so That that's what I have for that and then as far as like if you go to an hourly chart of the S&P 500 And you look at so we had that gap up open Sunday night and that gap up open Sunday night made a new high I believe it was in the S&P in the Nasdaq both made new highs Russell and the Dow did not but from that high of the open of Sunday night to the swing low of Monday when Volatility truly picked up. I think we like a 52 point range the tending me like 23 So we just doubled the range volatility picked up in that high to low had a halfway back short You have 50% or tracing was 2793 that traded on the close of Monday consolidated all day sideways Tuesday and then we have completed those targets here So during the day if we're gonna continue to go straight down the low of Monday drawn to the current low should as that should act as our Resistance other than that you want to take the high of Tuesday and then draw that to the current low That's 2770 and that would be the next major resistance level I would look above to potentially load up on a short position. So I know that's all in your fold But that's what I got for you. Yeah, no, that's clean. That's clear Yeah, there's no doubt there's no doubt and you know bottom line is it those small caps I love the smoke caps yesterday. They get smoked. They started this baby down. Oh, yeah And you know what they started they started the move down, you know, really when we sold off last year September Yeah, they they they topped out September 21st with the market topped out October 3rd, right? Yeah, and yeah I mean, it's it's been a big big sell-off I for support levels in the Russell. I'm looking at I got a 1510 and a 1482 with the two spots. I'm looking at 1510 and 1482 are the next two levels below But yeah, shorts are shorts are on deck really for the first time I mean you can take little trades here and there short but for the first time in a long time They worked well yesterday and today which we haven't seen so no, we haven't seen that fall through, right? That's kind of intriguing. Yeah, and how about gold guys what happened there? I thought you guys told me you're gonna keep the market bid and you know, it blows Well, look at this. It's blowing my mind that the dollar just broke its eyes and gold's only down 20 cents Yeah, there's no buying it Still buying there's always a floor in there somewhere, right? Well, yeah, I mean it looks to me like it's more than a floor because it's like this is really unusual that you can have the dollar at Highs and they can't whack gold, you know, I mean it's down from the high that we go back to February 28 13 49 I understand that but it's like yeah should be a lot lower man. Yeah, you're right You're right about that. I mean we're really checking back into the 25th of January. That's when that breakout began We had a four and a half point range there on that on the 25th and I think you know That that's really was the low in the base of the entire year So this should act as support what I wouldn't be surprised to see is just a little crack below the lows of the year down to Maybe like 1272 area just enough to scare some people take them out and then a reverse back above So that would be a potential trade. I would look for is the break below the lows of the year down to 1272 area And then the trade trigger for me would be a move back above So that's something I'm gonna know that that makes sense they like spiking it down Well, it's gonna be interesting to see in the dollar today And the index itself is that if this is gonna be a spike higher because you know that I think it's 96195 was the number no 97195. Okay, it's a high from December 14th Yeah, and we'll see whether you know, it's gonna hold it or not. We blew by it and 97 230. That's the high of February 15th Oh, so that's the high. Yeah. Yeah, so I am I'm just looking at this dollar chart So that was off the ECB press conference. Oh, yeah. Yeah, your zone is not gonna grow this year. Jack It's not happening 1.1 percent not 1.7 good thing. I don't spend too much time vacationing over there No, yeah, just stick to the islands man. Just stick to those beaches. I do too, man That's why we live in Florida. That was a quick four months. That is amazing We had the build-up where you were going over there, man Then we the first show we're going back six months a year man time is crazy man time is crazy No, it was so it was so chaotic. I mean just just everything I mean my internet was not working half the time which was okay Cuz then I just go to the beach and it's just like and my landlord asked you so you gonna be back next year. I'm like Yeah Perfect, okay, man. Well, listen, we welcome home stay warm. Yeah, yeah, it'll warm up in another spring's almost here 6090 days in Chicago you might get the 50 I wish Okay, man. Have a great one. Have a safe one Jack. Take care guys. Thank you. Stay right there folks Tommy and I coming right back. We have the dial down on that 246 now. I think I've 65 speed down 21 come right back