All right everyone, good morning. Well it's the top of the hour 9:00 a.m. So I'm going to start breaking down my watch list here for the day for those tuning in. I Have brought back the day trading Morning Show for this holiday week and uh, I hope you guys enjoy it.

So I'm going to just do a brief 15 minute long broadcast, give you my watch list and talking about uh, what's going on in the market? All right. So this morning, uh, let's look at the S&P 500 first. So uh, overall Market has been um on the daily chart quite strong. Uh, I'm going to go full screen on this after the CPI numbers.

Uh, a week ago we got this, uh, really nice push and you know I mean this is a 10% What's kind of incredible is the amount of range in the S&P 500. This is a 10% move in like two weeks. You know these are big moves, it's It's a reminder that being fully invested in the S&P 500 is a, um, a little bit of a roller coaster. You know there's the sort of traditional school of thought of cost average investing.

just keep adding and buy index funds. But if you're all in on the S&P 500, you know I mean you're You're really in for a roller coaster. Um, obviously during Covid, the market dropped, you know, nearly 50% and then came back up. it's like 40% And then we had the Steep pull back here from uh, our high of about 467 468 down to 340.

So now we're coming back up. and um, when you look at the chart in this sort of big picture, when we're zoomed out, you can see that we're clearly coming up to uh, this level right up here. Uh, which is uh, 457 And if we break through that, you know, naturally, that's kind of the next level. However, we are extended.

uh, given the fact that the market just went up 10% in like two weeks. So likely we'll pull back in this area and that would be completely normal and natural. We'll just see where it, you know how much it pulls back and where it holds. But the longer we in this area, you know we're going.

This ascending support line back here is going to start putting pressure on the S&P to come back up. And then that's when you know that's what we're looking for. right? As as in the bull in a bull market and as, um, long bias. Traders we're looking for that kind of move.

So whether that's going to happen before, um, you know, the end of the year I Don't know. Um, some people are predicting that the S&P will make new highs before the end of the year. Uh, but not sure whether or not that'll happen. In any case, the market is, um, setting up pretty well and one thing that I would say is uh, this period here you know this has been a tough period for long.

Biased: Traders You know 2022? Um was still pretty good for me. You know we still had quite a lot of volatility, but the volume this year has just seemed to taper and it's been, uh, it's It's been a lot slower if we look at Iwm, which is the Russell 2000. This is an index, um, specifically of small cap stocks. All right.

So 2,000 small cap stocks and you know you could see how pretty much all of 20121 it was sideways. It was really strong in 2020 and into 2021. and then it slowed down Dro down and it's been more or less flat. So we did double bot or triple bottom here.

Uh, and we're still kind of range bound. So the thing is, small cap Market is going to tend to lag behind the large cap Market Uh, and we need to see some improvement in in the large cap market. So this morning we're seeing a little bit of a pullback. Uh, you know, which is not super surprising.

So that's fine. We're seeing a little bit of pullback. Uh, when it comes to the Gap scanner here, we've got a problem. Our leading gapper is only 39% This is.

this is a small Gap This is really not much to work with and that's Mcaf. So Mcaf has a 3.1 million share float. It's got 400,000 shares of volume. It's priced at just under $10 a share.

Uh, the relative volume is high. If we look at the daily chart on this, what you'll notice is that this is a stock that, um recently it was a Spack. it was a a special acquisition company. So now you've got the drop.

So all investors are in. at $10 a share comes up, drops down to five. Investors are down 50% Today it comes back up. You know this is where we start seeing some of that chop.

and realistically, you know it's got to hold. It's got to hold above 12. I would say 12 1211 was this daily level here I'd like to see it hold above that. Uh and right now that's um, it's certainly not.

It's at 975 so no interest in this one right now. Uh, just looking at Big Picture daily in the 5 minute I don't see anything there to look at or to be uh trading. Next one down isgh Agh is up 37% priced at $217 cents. almost 6 million shares of volume this morning.

10 million share float. So this this all looks interesting. Um, but then we look at the chart and what you can see on this is that we had a Lo about $1.70 squeezes up to three bucks. but notice that topping tail.

So what happened on that topping tail right there is the stock makes that final push, but it isn't able to hold its level. Let me get the light on so I can show you my whiteboard. All right, So let's see. Okay, so what ends up happening is you get that squeeze up but it rejects.

So what ended up happening here was, uh, as it came up to $3 it was like 329 by 288. That was the level two. So 288 by 329? That's a huge spread. Now there's a couple people that hit the buy button and we got some orders at 329.

Maybe it was short covering. Maybe it was people buying I'm not sure, but it wasn't a lot and then it came right back down. So unfortunately, what I'm noticing um in this market is that we're seeing a lot of these stocks are popping up. They're giving like, you know, one candle of squeeze and then that's over.

They roll over, they don't hold up. So I'm not interested in chasing that kind of move because well, first of all, even if I wanted to get in on it, let's just look at how fast that goes. Before you know it you, you've already missed it. Um, and so by the way, the the platform that I'm using right now.

this is our day trade Dash platform which you guys can check out right here. Um, this is a platform if we go over to day trading education. Uh, and you check out the Warrior Pro and the Warrior starter Warrior Pro and Warrior starter members have access to um, this platform. You guys can also subscribe to the scanners only if you would like to.

It's $197 a month. You'll get the scan banners, you'll get the charts, you'll get my news feed, and these charts include um 10-second time frames. All right. So on.

Agh. What you could see happened on this is basically it broke through 220 and just in one candle goes straight to 280. and then this was where you had 288 on the bid at 320. Whatever on the ask.

it pops up there for a second and then it drops back back down. All right. So it comes back down, comes back up for a moment. But you know, basically Fades So unfortunately for me, this is now out of play as well.

Number one, it's below Vwap. So if we're above Vwap, above Vwap is bullish. Below Vwap is bearish. So we're below Vwap, so it's bearish.

And second, uh, it retraced more than 50% of the move. so stock makes a big move up. Okay, okay, great, but where is it going to hold and it's pulled back Way too much? so that's no good. All right.

Uh, Gpac GP AK This one just came up here. Um, yeah. so this has a high of 78. Lower priced just looking at the daily chart for a second.

So IPOs sells off all the way to 50 cents a share gamer Pakistan announces share repurchase program. The problem is, you know not to be a uh cynic, but they'll They can announce these, but it doesn't mean that they're going to, um, actually follow through with it. Let's see so here again, if we look at this on the 10-second chart. so they announced the share repurchase program it get the stock price gets a boost and up you go there.

High volume on the red candles poor volume profile. It's a pretty nasty rejection from 105 to uh, 182. it's only got about 480,000 shares of volume, so that's going to be a that's a nogo for me. In any case, it's a little bit on the cheaper side.

I Know my metrics quite well. I Know where I make the most money and it's not on those lower price stocks. So but now look at the five minute if this ends up being red, look at how terrible that looks. So this is called a shooting star, right? So shooting star St kind of looks like that in when you see it in the sky.

if you look up if you're not looking at your computer screen or your phone, right? So you got that big topping tail and then that little candle wick, a little candle body so that's an indicator of something coming back down. No good. Okay, so that's Gpack. Uh, um SYM Let's see, we had a couple others this morning.

Yeah, so we did have. that was a good point. Um, so Joseph just reminded me which one was that was that. Um, there was one earlier that was popping up now I'm trying to remember which one it was.

Um was it A& G? No. I don't don't think so. Oh it was REI Very yeah, very good. Thank you.

So earlier REI was popping up and this one, um you know it goes from 60 cents all the way to $140 and now it's back at 93. What was interesting about this? Notice that topping tail again. So REI is on, uh, short sale restriction and it starts popping up right here. So you get like basically one big green candle is it start surging up and then even in the middle of this candle? um starting at like 115 there were all of a sudden we were seeing like 30 40, 50,000 share sell orders.

Big sell orders. Big sell orders. Big sell orders and it does squeeze up and it goes through them. Those sell orders got picked up.

it goes up to 30, 40 more sell orders, more sellers more Sellers And I was thinking who is selling so many shares at this thing? Like you know, the news has been out for like all of a minute and there's already sellers lined up and so I thought All right, Well what are the what are the possibilities? Let's think this through. it. Could it be a highfrequency trading algorithm? Could be? Um, that's possible. We don't usually see that on stocks with really light volume.

That's a lot of risk. So I don't know what would be the what how the algorithm would kind of factor that this was worth taking. You know, the risk of of selling like a 150 200,000 shares? Uh, so that's one possibility. Uh, you could say it's it's insiders who have just been sitting here every day for the last, like, you know, six months waiting for a day that the stock would pop up and within a minute they were putting their sell orders out.

That's unlikely. Um, well, and of course, if they knew, then that's you're not really allowed to do that either. So that I don't think that's what it is. Um, and so I was sort of left with a couple possibilities.

I Mean it could be it could be that the company is selling shares. It could be that insiders are selling shares. I Mean that's that's certainly possible. Um, it could also be that people are shorting against the move and so the stock starts to squeeze up and pretty much immediately you know clicking to borrow the shares.

Or it's easy to borrow or super cheap to borrow. And you know, putting out the sell order. And this was a stock that had short sale. Sorry, what's hello short sale restriction SSR Which means you can't short on, uh, the bid.

You can't hit the bid, you have to put your order on the ask and get filled on an uptick. So that also sort of correlates with all right. we're seeing big big orders on the ask. these are probably short sellers, so I think what we probably saw on this was as soon as this popped up a lot of short Sellers and it drops back down which gave a short-term profit opportunity.

There were people that bought into the move not me though. uh and then it goes sideways and now it's pulled back even more for shorts that might still have been holding. So you know I think we're in a market right now. It's a little cooler this week and shorts are pretty aggressive sort of adding on anything and and as it goes higher.

Continuing to add and in fact today if you shorted this anywhere and you kept adding as it went higher you've you probably would have been profitable. Let's look at another one. uh Mcf Mcaf on this one. Well this only popped up for a moment so if you shorted on that pop you would have been green gpack.

If you shorted on this pop you would have been great. So I think right now we are seeing a lot of people that are just shorting and if it goes higher they keep adding because for the most part it seems to be working now. we did have um SGD last week right? So it works until it doesn't and when it doesn't work it can be pretty dramatic. Um, what's going on with this one? Let's see.

Uh is this the right? Yeah, I Keep confusing this one with a different one. but um, so on. um, Sdg last week or SGD Sorry, you know this was one of those ones that was pretty cheap and you know. I I Heard about some people who were shorting it pretty heavy and you know it's kind of the same as what we've seen on some of these others.

You know it goes up to 80 cents to a dollar short 50,000 shares. Add another 50,000 shares, you short 100 Grand 100,000 shares. $100,000 basically and it goes up to $140 All right. pulls back a little bit, add more, add more.

Okay, now all of a sudden you're down like $300,000 and this thing I mean this kind of insane, but it went all the way up to $6 a share. So you know that could have been a $600,000 loss there on the type of positions that I saw people taking this morning on REI and Gpac? Uh, so well actually uh, REI and um I forgot what the other one was. Gpac I I wasn't looking at the level two very closely on this one, but in any case, uh, I Think what that highlights is just the reality that adding as it goes higher works until it doesn't and you just have to be really good about cutting those losses. And the problem with regular trading hours is that because of circuit breaker halts, you can get trapped.

So there's no circuit breaker halts pre-market There's no circuit breaker halts after hours. but during regular trading hours, we have those halts. and I think that that's what made s GD do something a little bit more. um, exceptional.

So in any case, um, maybe pre-market and after hours are the windows where that strategy is going to work a little bit better and be a little bit safer. Um, in recent weeks months we had, um, there was another one I can't remember. um I'll have to check. but uh, there was one premarket that made a pretty pretty big move.

but uh, Cdio, let me look. Yeah, so this was interesting. Um, the thing on Cdio is that I I did see this yesterday afternoon. Uh, was very choppy.

around $2 a share right here. So it it came up to two. it broke on high volume. Look at this volume, you know 1.5 5 million shares of volume and then it rejects, comes back up rejects again, comes back up rejects again, comes back up rejects again.

it was like two 195 to 205 and then finally this time it breaks. But you know it could have just easily not broken because it was just being so difficult and then kind of into the close. you know it pops and reverses. This is just this is very very difficult to trade.

I mean really, this is not very clean. So yes, did it make some moov? Yeah, it did. But was it easy to trade? Was it clean? I Don't think so. All right.

So this morning the the main issue is that our leading gapper is only 45% We don't have big gappers this morning, so um, today, kind of similar to yesterday, it's going to be a little bit of a slow day. uh, certainly pre-market and at the open we'll see what kind of action we get. um, through the opening range and then between you know, 11 and 2 midday it might be a little slow. this is a holiday week and then going into Power Hour and after hours you did get some Power Hour moves on CDI so that that might be another window.

So I would say the window today is probably up until about 10:30 11:00 a.m. for morning momentum and then it'll be slow during the lunch hour. Uh, and then maybe Power Hour All right, so that's the game plan right now. Uh, for those, uh, tuning in on YouTube Thank you guys for being here and I'll be back at it for another watch list first thing tomorrow morning.

Thank you guys for uh, tuning in I Hope you enjoy it I hope you hit the thumbs up and I'll see you back at it tomorrow morning.