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  • Melissa, you saw the S and P 500 up nearly 20 points.

  • No real can also net net.

  • We're only down about 10 points of the S and P five under, but I think we are seeing some profit taking.

  • We are seized reposition, going to queue for it if we get any type of optimism.

  • I know we had some weak.

  • They had it coming out of manufacturing.

  • We're getting any optimism.

  • I this China U.

  • S.

  • Trade deal, I think it is gonna retest.

  • It was July Heights.

  • You're not You're not worried about some of the fundamentals?

  • Some of the charts in the markets, like the breakdown in small caps, a breakdown in transports, for instance, and financials are under only weak because they're at their beholden to where yields go.

  • Yeah, and I'm with you looking materials today.

  • Look.

  • Att industrials, they're certainly getting take out to the wood shed.

  • But I think fundamentally I think the market's still intact.

  • We look at a lot of 50 day to day moving averages.

  • Right now, the S and P 500 is dipping underneath after day moving average.

  • So there is some testing going on there.

  • October. 00:00:58.960 --> 00:01:1.210 We call that October last year in 2018. 00:01:1.240 --> 00:01:2.360 I don't envision that. 00:01:2.360 --> 00:01:3.410 We're seeing volatility. 00:01:3.510 --> 00:01:5.140 The VIX is barely above 18. 00:01:5.210 --> 00:01:6.550 I think we're in a pretty good spot. 00:01:6.560 --> 00:01:10.830 I know that the dad of the manufacturing that comes out, but that's a month to month measuring.

  • And yes, it is weakening.

  • But this is not a newsflash, Melissa.

  • We all know that global growth is weak, and that's why the Fed policy of the Fed put is put in place.

  • I think that Fed put is right around 28 50.

  • You still think that it exists, then absolutely 100%.

  • It's enough to offset global weakness and weakness coming here.

  • Well, it's a great point you bring up, but I think the biggest thing that no one's really talking about today what happened yesterday, what did the market ignore you?

  • Actually, it was the dollar index, the U.

  • S.

  • dollar index going about 99.

  • President Trump certainly tweeted about that.

  • But that movement in the dollar that really does weigh on US equity.

  • So I think we continue.

  • See criticism Administration on the Federal Reserve will see a stagnant to weakening dollar that indeed, in itself, that weakening dollar.

  • We'll help push the stock marke here domestically, higher.

  • We will have all time highs and Q four.

  • I think we just have a little rocky road, mostly going forward.

Melissa, you saw the S and P 500 up nearly 20 points.

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