1. There was no red wave sweep. This was something that the market was expecting. Actually, the market was looking forward to gridlock in DC and we shall see if that occurs. 

2. The major indexes gapped lower today, but have been bouncing back a bit here so every close will tell me more information. $Meta is laying off 13% of its workforce.

One industry group that has caught my eye recently has been semiconductors and that is still holding up well right now. It is also showing relative strength on a daily chart when compared to the NASDAQ Composite and NASDAQ 100.  $smh

3. Gold has had a good week so far and is holding up well today. The move higher in the precious metal came  as the US Dollar Index pulled back. Gold is nearing some daily chart resistance now, so it will need some consolidation before moving higher. Silver is also very strong right now as well, but this could use some consolidation before making the next run higher. 
Full disclosure: I own SLV

4. Bitcoin and most crypto got hammered yesterday on news of a liquidity problem with several leading firms. I thought crypto was supposed to be immune to such events, but that does not seem to be the case. Either way, Bitcoin is now trading around the 17,600 area. As you know, the large time-frames are bearish and indicate a decline down to 12,000.

1. Markets are continuing to trade higher after last Friday's rally. Obviously, everyone is watching the mid-term elections for some clarity. The markets are expecting gridlock to come into play if there is a red wave sweep. Either way, I think it's too late for that as a lot of damage has already been done by this current administration. 

2. Twitter is now officially a subsidiary of Elon, Inc. Interesting to see what happens next.

3. Oil and natural gas have been rebounding strongly over the past 2-weeks. As you know, I have been very bullish on oil and natural gas recently. Its amazing how everyone loved nat gas at $10.00 but hated it at $5.00 or lower. Well today I closed out a couple of big winners in natural gas (UNG) on the swing trading side and the option side. This is why it is critical to learn how to read charts. 

4. Gold is a little soft today, but silver remains strong. As you know, silver is my favorite right now. 

5. Bitcoin is trading down by nearly 2% today to 20,700.  Nothing has changed when it comes to Bitcoin, it lives to fight another day but the bigger trend is down. Next fall could go below 12,000

1. Microsoft (MSFT) and Alphabet (GOOG) drop after earnings. Both mega-cap names are falling sharply this morning. MSFT & GOOG are both falling by 7% on the session. 

2. Surprisingly enough, the major stock indexes are holding up very well today despite the decline in MSFT and GOOG. This should tell everyone that the market is bigger than any one stock. The Russell 2000 Index (IWM) is trading higher by 0.70%. The Dow Jones Industrial Average is also higher by 0.50%. 

This tells me that the market participants are looking forward to the FOMC announcement next week. As you know, last week the Wall Street Journal reported that the central bank would look at slowing down interest rate increases after this next meeting. This coming meeting the Fed is expected to raise rates by 75 basis points.

3. Gold is catching a decent pop today trading higher by 1.0%. Silver is also pretty strong today as well. Silver is still my favorite play right now. 

4. Bitcoin is catching a bid today trading back above the psychological 20K level. There is a lot of talk that wealthy Chinese residents are putting money into crypto after president Xi's reelection. I thought crypto was banned in China, so I will have to look more into that story.

1. Markets are mixed this morning. The Dow Jones Industrial Average is higher by 0.65%, meanwhile the tech heavy NASDAQ Composite is lower by 1.0%. I'm always sceptical and cautious when the DJIA shows leadership. Either, nothing has changed despite the Fed's chatter of a possible pivot after this next rate hike on November 2nd. 

1A. Chinese large caps are getting hammered today. $BABA, JD, BIDU and others are down after president Xi gets reelected. China also has another lockdown going on in a major city. I also believe the economic data was weak this weekend as well.   

2. Energy seems to be the strong industry group to start the week. Oil is basically flat, the leading energy stocks are gaining ground. Natural gas (NG) is finally catching a bid today as it was beaten up ast week during options expiration. Full disclosure: I own UNG and UNG call options. 

3. Gold is slumping a little today. As you know, gold can bounce here but a major bottom is still down the road a bit. 

4. Bitcoin is upticking a little today. It is trading around 19,260. This is still chopping around right now, but ultimately it is going lower.

1. It looks like the Fed blinked today. Just before the opening bell a Wall Street Journal headline hit the news wires saying that the Fed will hike 75 basis points on November 2nd and then debate on how to slow rate hikes in the future. There must have been some panic at the central bank as the markets come under pressure. This is certainly the catalyst for our early rally. 

2. Natural gas is getting clobbered this week. I just stepped in and bought UNG today. It's amazing how people loved nat gas at $10.00, but hate it at 5.00. Given the geopolitical events and the chart pattern this trade sets up right now for a major bounce. As you know, most traders believe the retreat and oil and natural gas are due to the midterms. Either way, energy should trade higher soon.  

3. Gold is catching a strong bid today after getting beaten up for most of the week. As we have seen, gold is always pounded during options expiration week. 

4. Bitcoin is clinging on to a slight gain today. As I have been saying lately, it lives to fight another day, but the longer term outlook is very bearish. Ultimately, I believe it trades down below 13,000. The footprints of human nature.

1. Today is the Wednesday before options expiration which is this coming Friday. Often, the Wednesday before options expiration is a very choppy and volatile session. We call this Whipsaw Wednesday. Often, rallies will be sold sharply and sell-offs will be met with strong bounces. It is usually a wild day filled with no conviction on either side.

2. The 10-year UST note yield is now at 4.08%. This is up by 7 basis points today. The more important 2-year UST note yield is also higher by 8 basis points to 4.512%. Remember, the fed funds rate needs to catch up to that 2-year yield and the Fed is still far from that rate at this time. They need to catch it and it keeps moving higher. This is also an inverted yield curve which signals a recession on the horizon if we are not in one already. 

3. Precious metals are dipping again today. Gold is trading lower by 1.0% to 1637.00/oz. I think gold heads lower overall, but this is setting up what I call a 'dip it to flip it pattern'. This will lead to a monster buying opportunity soon in gold, it's just not there yet. 

4. Bitcoin is basically flat today trading around 19,100. The bigger pattern is bearish and I continue to believe it will trade sub 13,000 soon.

1. Schizophrenic markets. Last Thursday, the major indexes staged a massive short squeeze rally only to give most of it back on Friday. Today, the major stock indexes are surging higher to start the day in what I call a schizophrenic market. Many investors and traders are thinking that these markets might hold up into the elections, but i'm not sure of that.

2. This week is options expiration for October. As most of  the listeners know, this is a week to be more neutral and remember the institutions will play a lot of games with the popular stike prices in the popular stocks. While most stocks have been lower recently there is always a chance of a bounce for a few days this week. 

3. Earnings season has begun. Today, Bank of America (BAC) and Charles Schwab (SCHW) reported earnings before the opening bell. BAC is up over 6% and SCHW is flat. Earnings will continue to pour in over the next few weeks. The mega cap tech stocks do not report until late next week. 

4. Precious metals are catching a bid today after hitting a rough patch last week. We always have to be careful with the precious metals during options expiration week as they always seem to come under pressure. We shall see if this week is different.

 5. Bitcoin is rallying higher by nearly 2%. It is trading around 19,600. Either way, the larger pattern trend is down and it should go sub 13,000 on a break of the current pattern. For now, its living to fight another day.

1. Hot CPI report with still high 8.2% inflation in consumer prices.

2. Gap lower open and then a reversal, will it hold. Options-ex is next week. Wild action. Tech was down and now it’s up. Semi-conductors were getting hit and now are higher. Will it hold through the close. Volume is very positive.

3. Gold was getting slammed and so was silver. Gold recouped its losses and silver is green. Platinum is rallying higher, 1.7%.

4. Bitcoin is below 19000 but has recovered slightly. In the bigger picture its going below $13k.

1. Opec cutting production. Will it be a 1million barrel cut or 2 million barrel cut? Either way, oil is on the rise again.

2. Twitter (TWTR) is being bought by Elon Musk for $54.20 a share. Wow!

3. Markets are pulling back today after a huge 2-day short squeeze rally. in my opinion this is a bear market bounce. 

4. Gold and silver are pulling back after a monster advance this past week. 

5. Bitcoin is pulling back again today by 2.0%. It looks poised to drop below 13K soon. be careful playing this now.

1. Markets are trying to start a bear market rally. Today, the major indexes are higher across the board. tech seems to be the lagged despite being positive. That is something that catches my eye right away. 

2. Energy is on fire today. Oil is trading higher by 5.9% to $84.00 a barrel. Oil looks very good on the charts. In fact, today I closed out an oil call option for 34% in one trading day. Energy stocks are also surging in the session. Natural gas is under some pressure today trading lower by 5.0%, but that needed to correct from a very overbought condition.  

3. Tesla (TSLA) is falling today, breaking lower by 6.3%. The company came up short for Q3 delivery estimates. 

3. Precious metals are strong today. Gold is higher by 1.5%, but silver is stealing the show with a 8% gain. As you know, silver is my favorite position right now. Full disclosure:  I own SLV and SIL call options

4. Bitcoin is flat, but  trading above 19K. So it lives to fight another day right now, but as I have said repeatedly it will eventually fall below 13K on the next decline.