What is going on everyone? Hopefully you had a great weekend, especially after that mega rip on Friday. What Jerome Powell just did is much bigger than most realize. And the markets movement backs that up pretty clearly. Stocks are going insane right now, and today we dive deep into everything you need to know. It's a great time to be a trader. [Music] The price action on Friday was fantastic. The spy ended up rising 1.54% as traders obviously enjoyed Jerome Powell's Jackson Hole speech. I know that there was a lot of fear going into this Jackson Hole symposium. And of course, a lot of people were worried that Powell might talk about holding rates higher for longer, but as we can see, that is not the case. And the market is ripping. The heat map shows that so many large stocks that obviously impact the S&P 500 like Google, Meta, Microsoft, Nvidia, Apple, Tesla, Amazon, all of those stocks were green on Friday and green by a lot. Amazon up over 3% with Google also over 3%. I would say Tesla was one of the bigger shining stars out there though, rising 6% which is going to make shareholders extremely happy. And everybody's like, "Okay, what's going on right now, right?" Um, why is the market moving in such a crazy way? It's actually so crazy that it's even pushing Ethereum and gold higher. Ethereum and gold have been ripping since Friday. We can see Ethereum popped off here. GLD had a great rip up over 1%. And really the big thing is like, okay, the path for rate cuts is shifting a little bit. Jerome Powell is actually talking about both sides of the dual mandate. We talk about that all the time. And right now they're trying to balance them in a way that obviously favors the labor market. They've been talking a lot about inflation obviously, but right now they're saying the risks to employment are outweighing the risk to inflation. Yeah. So let's dive deep into this. So basically what we can see here is the reasoning that Jerome Powell is using to cut interest rates because what everyone cares about right now is what the path of rate cuts is going to look like going forward. And for so long now Jerome Powell has basically been kind of reluctant to cut rates. U you know I would say justifiably so considering inflation is you know still not where everyone wants it to be. So basically what Jerome Powell did on Friday is about as close to we're going to get as Jerome Powell saying that he's going to cut rates in September. And basically the most important thing to take away from this wording is that that last sentence there where Jerome Powell basically said that the baseline outlook and the shifting balance of risk may warrant adjusting our policy stance. What he's essentially saying here is that the risks of the labor market worsening are more important to us than the inflation risk right now. So for that reason, we're probably to cut interest rates. And when we look at the uh markets, they are they are certainly signaling that quite a bit. We can see that right now there's around a 76% chance of a 25 basis point rate cut in September. And Tom, can you circle that point on Friday where it just like ripped higher right when Jerome Powell started speaking? We could see that green line pop higher and the blue line tank lower, which essentially uh was was the world pricing in that we're seeing rate cuts in September. Exactly, Mike. And I think that this is a very positive thing right here. I know that a lot of traders were really worried that this would not be the path that Powell talked about, but it ended up being the the path and we're going towards cuts. And we can see with that 76% chance is awesome. And actually the futures and the Fed watch tool actually shows that there's even a higher chance. They're pricing in an 84.7% chance of a rate cut in September. So I feel like that this is a pretty good data to see. And of course the market loved it and that's why essentially the market ripped so much right now. Um Mike, whenever we talk about the market overall, you know, we can see that the spy itself has been running up quite a bit on Friday, but it didn't technically get to a new all-time high yet. We can see that the all-time high is closer to 647. Now, it is straddling and pretty much testing the all-time high at this moment. Going into this week, if we do see a new all-time high breakout and a subsequent rip out of the spy, I feel like that there could be some great price action and some good opportunities playing it up on that breakout. So, really have that 647 level in your mind and watch that very carefully for a potential move. I do think that if there is a breakout, $650 would be a huge resistance overhead. But just remember, guys, the skies are clear right now. There's no established resistance yet. So, we're going to have to react and wait for uh some levels to truly establish to find some solid resistance. But, I love that price action, Mike, and the uh the all-time high break coming out this week would be a great move. And of course, off of Friday's momentum, I think that's definitely a possibility. But if we do end up rejecting back down, there are some good supports to watch for. I do like 643, 641, and especially that 639 level that we talked about a lot last week where there've been a lot of touches and hits at. Yeah, it's crazy, but also exciting to see how quickly the market dynamic is shifting. You know, just last week, especially towards the middle and end of it, we were seeing a lot of like riskoff like profit taking uh happen. And then right when Jerome Powell basically showed that the money printers are coming back on, you know, we're uh kind of into like bull frenzy mode again. And you know, that has certainly been the mode that the market has been in not only over the past like few months, but in even a much broader sense as well. So, you know, basically looking at the market right now, keep a very close eye on those upward levels that Tom pointed out. we do have a few key resistance points overhead, but then at the same time like if we do see a breakout, just like you said, Tom, like there there's nothing left after that. So, it can get very exciting. And uh yeah, we're in for a very exciting week in the market. And one thing that I definitely did want to show because, you know, the situation that we're in right now is I don't know, it it's certainly a different rate cut situation than other times we've been in in the past considering uh the market is at all-time highs. We can see that historically speaking, when the Fed cut interest rates, when we're basically at all-time highs, it has been very good in like a medium to long-term sense, but in like an immediate short-term sense, it's not the greatest. It's really not. Like, whenever I look at this data, I feel like that the next month is pretty I would say 50/50. And it's funny because it's actually green 50% of the time. And I would say for the most part, that's under most averages. You know, generally if we look at the next month, we will see that be higher than 50%. But with this data here, it does show a bit of negativity. But something that I really like to see, Mike, is the three-month data. We can see when it when we get to the next 3 months, the market's actually green 77.3% of the time. That is huge. It's actually even better than the next 6 months, which almost never happens whenever you look at data like this because the next six months generally as you go out longer, you know, things get more positive and skewed to the upside. So, I feel like that that's pretty insane, though, to see that the next 3 months is so positive. So, I like that. And also, some of the most recent readings ever since like 1991 have all been green, especially on those three-month readings. Like not one reading uh since 1991 came in red there. Very cool. And like also the average and median returns for like 3 months out or, you know, a decent amount as well. So, I think that's pretty exciting. And I guess it's just, you know, worth keeping in mind that the immediate short term, the next month is, you know, like you said, 5050. So, let's stay extra adaptable in the short term. And what's pretty exciting for this week is that there's uh a lot more going on. So, there's not going to be a slowdown in volatility one bit. Uh, how is the earnings looking like for this week? It's actually pretty awesome. There's a lot of fun stocks reporting. I see a lot of growth stocks on here like OKTA for example. There's a Snowflake, Crowdstrike, Marvel, Dell. But I think what everybody is really going to care about and obviously is Nvidia, right? NVDA, that is the big boy reporting this week, it is the it is the highest weighted stock in the S&P 500. So it is going to be a very important week for Nvidia itself. Mike, you know, looking at Nvidia in the short term, they had a great move on Friday. They were up 1.72%. I would say though, they could be they they could have some better price action, right? Uh there was a lot of stocks ripping up Friday and I felt like that the 1.72% move wasn't the greatest. But looking at Nvidia, they did post all-time highs recently. And you know, if we have some earnings that are positive, it would be awesome to help continue to fuel this rally and to make more new all-time highs. And that'll even spill over into the S&P 500 this week. And that could ultimately be what ends up either making or breaking the SPY ultimate move. Exactly. Because Nvidia, you know, a company worth $4.3 trillion, uh, has a huge impact on the market. And as we know, when stocks report earnings, they tend to make a big move up or down. So, yeah, it's definitely going to have a big impact. And I'm very excited to see it. Wednesday after close is when uh that show is going to get started. But we also have a pretty exciting economic lineup, too. We do. On Friday, the PCE data will be coming out one hour before the market opens. That is going to be huge there. Of course, it's going to show how consumers are spending money right now, and that is going to be a big deal for the economy. We do also have durable goods 1 hour before open on Tuesday along with the GDP growth rate data coming out Thursday as well. I do think that the GDP data Thursday could be pretty huge while I do think durable goods will be something that maybe gets overshadowed by uh other market metrics kind of like let's say Pal's Jackson whole event Friday and continuing momentum off of that. But Mike, you know, considering that we've been looking at the uh the economic lineup and everything, I know that there's been a lot of talk lately about Intel and the government actually took a 10% stake in them. We talked about this a lot over the past few weeks and it looks like the government has officially done this. Uh commerce secretary Howard Lutnik came out and said that they did take the uh 10% stake. And if we go to Intel's chart, they had a great move Friday. Now, of course, they had a great move probably off of the overall market moving, but this news of the government taking a stake is awesome for them. You know, Intel has been in a pretty rough position as we can see as we zoom out. And it's like the further you zoom out, the worse Intel looks, right? um they've been going through a a big problem especially for a chip stock or a semiconductor stock uh where we've been seeing a lot of positive uh inflows and bullish flows like into Nvidia MU you know MRVL lots of other chip stocks that have been doing a lot better but Intel has been down in the dumps. So you know the having the government on your side I think is a good help here and ultimately I think it'll be uh awesome for Intel shareholders as time goes by. Yeah, having the government on your side certainly isn't a bad thing. And you know, when the government's in business with you, you might get some uh nice contracts soon. We'll see what happens. But um like you said, I do think this is going to be a net positive thing for Intel stock. Uh even if the stock doesn't just, you know, take a straight line higher, I think it can turn things around because when you look at Intel over the past few years and even like the past decade, it has just been getting clobbered and it's it it hurts. so bad when you have Intel performing like this in a time where AI is crushing it. All chip stocks are just you know exploding in value and you know Intel is just like you know just like degrading. So I do think we are going to see some big changes for this stock and I think it's going to make for a big increase in volatility as well. So, I certainly think it's one that everyone should keep on their radar. And Tom, I know like a key area that everyone is looking at for this one is like that 28 to $26 resistance level. Can you tell us more about this like potential breakout zone and you know what to look for if we you know do gain enough strength here to actually break out of it? Yeah, this is a very critical zone on Intel. As we can tell, there is a very clear lower support down around that $18 to $19 range. And of course, there's that huge overhead resistance around 2650 to 28. Ultimately, in the short term, breaking above 2650 and$28 is the most critical thing to see for Intel. Like, if we could actually get up and out of this zone, that would be awesome. And I think shareholders would be extremely happy and it could actually start to snowball and more buyers will rush in as some of these big levels start to break. So, I'm definitely going to be watching 2650 and 28 the most carefully over these next couple weeks to see number one if we're going to get that breakout going. Now, if we do end up breaking out, I also like $30 is a really good resistance. This is essentially where Intel started to gap down in August of 2024. So, that'll be a huge area to kind of fill the gap back up to. I know a lot of traders look for that. And at the same time, 30 is a huge psychological level as well. But first things first, we have to break this range. It is a critical uh resistance at 26 to 28. Very exciting. Let's keep Intel close on watch and let's jump right into some setups and predictions. A stock that is definitely close on watch is SLV and it is to the upside. I know we've covered this one so much over the past year and has been doing very well, but uh with Friday's uh new momentum, there's no way I couldn't cover it today. It's continuing its uptrend and as we are seeing uh Jerome Powell uh kind of confirming interest rate cuts, it just goes to further reinforce um you could just say the dollar losing more value. Uh looking at SLV, GLD, stock prices as a whole, Ethereum prices, like everything is ripping as the value, the purchasing power of the dollar is falling. I really like uh the riskreward that this prevent that this presents, especially with SLV silver. Uh we are getting closer to a breakout past recent resistance right around $36 per share. That would be like like ideally the level we want to break through for this to have like its next strong leg higher. But I don't even think that level has to be uh waited to be broken either. SLV is definitely on my bullish radar, not only in a shortterm sense, but also in like a medium-term sense over these like next few weeks and months. Yeah, silver started to really break a good lower high trend that was starting to go on on Friday. And that was a huge move there. And I'm glad that you mentioned the dollar because that was definitely impacted quite a bit there on Friday by the Jackson Hole speech. And yeah, silver and gold are on fire right now with my first setup. I'm actually looking at a pretty funny situation. Let me know in the comments how you guys feel about this. But Cracker Barrel has changed their logo. And of course, there's been a lot of backlash with this. And we can see that on the daily chart, Cracker Barrel has started to fall down a little bit. So, I'm ultimately going to be looking for a more of a selloff with Cracker Barrel. I thought that they tried to come back late in the day Thursday, but they ultimately didn't have the best price action Friday. If they end up falling back under $54, I would think that they could come down and retest the low from last week close to $50. That is going to be a huge psychological level to the downside. But either way, I like this is a good short-term opportunity, especially with all the backlash involved with this situation. Just keep in mind, you know, have your eyes on the headlines just in case they come out and uh take it back because there's been so much backlash they might have to. Sounds good. Another ticker that is definitely close on watch is OXY and it's to the upside. I know this one was on the radar in Thursday's video and it had a great move on Friday. It is definitely still on the bullish radar as again with Powell indicating that interest rate cuts are probably coming. Uh that would definitely simulate the economy a bit and in turn increased demand for energy. Oxy has been doing pretty well over the past few trading days and it definitely has been holding very steady um in a shorter term sense as well. It's definitely on my bullish radar. The more pressure this puts on recent highs, the better the setup becomes. Oil stocks are starting to look awesome. You know, they were they've been coiling and kind of consolidating for a couple months and you know, watching OXY starting to get some uptrend going definitely looks awesome on the chart. With my next setup, I'm looking at Tesla. There is actually a huge wedge that we've been watching on the Tesla daily chart. And on Friday, Tesla started to break above here. Now, it's not like there's a super clear move above the wedge yet. It also broke above the wedge a few weeks ago, but then again, it ended up falling right back into it. I really like the lower end, though, Mike. I mean, there's been so many key bounces off of this lower trend line. And again, held in the short term with all this good news from the Jackson Hole speech. Ultimately, in the short term, if we continue to see Tesla break out, I'm going to be watching for a test of $350 in the short term, I think that there could be a great target there. There's 356,000 shares stacked up there on Friday. So, be ready. That is a big area of resistance. And if Tesla can hold above 340, that would also be a good sign as there was like 190,000 shares stacked up there before Tesla ultimately ended up breaking it. So, if it holds above that, watch for 350 is a good target. And there's just so much good momentum right now off of Friday, Mike, that I feel like that uh things could start to snowball and a lot of bulls might be coming out of hibernation here. Yeah, Tesla is one of those stocks that uh you know, very exciting to trade because it just moves in such a strong crazy way and there are some pretty exciting levels coming up as well. So, let's keep it close on watch. And besides that, let's jump right into today's momentum plays. And with the first one, we have Energy Fuels, ticker symbol UU UU, to the upside. Yeah, if Energy Fuels can break out above $10.75, then watch it up. This is a pretty clear resistance in the short term. So, if it breaks 1075, watch for some momentum. All right, with the next one, we have Bitmine, ticker symbol BMNR, also to the upside. BMR was up 12% Friday. This stock deals a lot with Ethereum. You know, it's Tom Lee's, the chairman of the board. I know a lot of people love that, but if it breaks 56, a watch for a continuation. And then with the last one, we have B2 Gold. Ticker symbol BTG also to the upside. With gold stocks going crazy right now, how could we not watch some BTG? Watch for a breakout above $42. It's pretty much right at a crazy $4 resistance. Sounds good. So, we have these three stocks on the radar for potential continuations tomorrow if and only if they break through the levels listed. As always, prioritize protecting yourself above all else. So, make sure to have stop losses and, you know, protect your risk. Uh, but with that being said, Tom, let's jump right into today's $1.1 million big money trade. And we are looking at ticker symbol PSX. On Friday, the trader here bought the 132 strike call options that expire on September 19th of 2025. Again, this is a little bit over a $1.1 million trade. Um, PSX had a phenomenal day on Friday. For those of you who don't know, PSX is Phillips 66. This is an energy company and u somewhat similar to the OXY play that we talked about earlier in the video. Uh, interest rate cuts generally stimulate the economy and in turn, uh, you know, that can increase demand for energy. PSX has been uptrending in a very strong way, especially over the past few months. So, yeah, very interesting setup. And Tom, this is another u another big money trade that has an expiration that's somewhat soon. So, it'll be interesting to see what happens shortly. Yeah, this one will be one that has a lot of volatility, I would say, especially given the 4% move Friday and considering how short that expiration is. It's also over a million dollars, so pretty sizable big money trade here. And I love the way that PSX is starting to trend. uh it started to trend up honestly since like the middle of August like August 11th August 12th as it posted that recent low and of course the move Friday kind of solidifies that the uptrend is starting to establish and we can see that when PSX uptrends it likes to uptrend for multiple days if not even multiple weeks. So I feel like that the big money trader here is trying to capitalize on a good continuation and as we can see there's been some pretty consistent uptrends on PSX whenever it starts to run. love to see it and it's great that it's already off to a good start. Um, but if you guys are new to the channel, definitely consider destroying that subscribe button so you can get our videos recommended to you more often. Every single day we cover daily multi-million dollar big money trades, spy levels and analysis, earnings, events, and basically everything you have to know about the stock market all the time. When you subscribe, you'll get our videos recommended to you more often. So, definitely consider doing that. But we also want to give a giant shout out to today's member of the day hockey in the stockup trading floor who crushed it on Friday. He had a bunch of different gains from SLV and GLD to BI OCR and others. So huge shout out to you. Keep up the great work going forward and it is awesome to see posts like this one. We're set for a very exciting week. As you guys know, the market's already going crazy and the Nvidia earnings, PCE data, GDP data, and more are just going to be the cherries on top. So, it should be a great week. If you guys are into short-term trading, again, don't forget to subscribe. We post all the time and cover everything you have to know. And besides that, let's have a great week in the market.