00:00 Josh

Here with the train day takeaways is Yahoo Finance’s Jared Blicry. Jared.

00:03 Jared Blicry

Thank you, Josh. Got to talk about tech roaring back and we’ll start with the Nasdaq. And this is going to be an intraday price chart. Let me just show you the year to date because, you know, in the context of this, we didn’t even fall off this much, but uh you think that the uh sky was falling down. What I’m seeing here is a little bit of an oops kind of a false breakdown and this is actually looking pretty good. I’d be surprised if we don’t test these highs here. What I have seen and I just want to address this quickly. Here’s the three-month intraday chart. So you can see a lot of more squiggly lines. So here would be the neckline of a potential head and shoulders. And there’s only one left shoulder and one head here and you’d have to draw on this other one. So there this would take a while to develop and then you’d have to break below that. So it’s a little bit too premature to call that. What I see here is a false breakdown and uh we had some bullish price action in the sectors and some of the Mag 7 and in disruption, there’s tech up 2.38% today. But let me show you, Alphabet just rocketing to another record high, Broadcom up 11%, Tesla up 7%, and we’re kind of heading into that seasonal time of year when things tend to go the way of the Bulls. So there’s not a lot of risk this week. We’ve had some, I I went back and I had ChatGPT like search throughout history all the Thanksgiving, Black Fridays where we had some trouble and there was only three this century, 2008, 2014, and I believe 2021. So we’re pretty well situated here.

01:21 Josh

You know what we haven’t talked about in a hot minute? The metals, my friend.

01:25 Jared Blicry

Ah, yes, gold and silver. We haven’t talked about them because they haven’t done much, but they did today. So, let’s take a look at the futures board here. And uh, you know, after just kind of in context here, we’ll start with silver since that’s in the number one position. See if we can get a chart up there. There we go. Um here’s the year to date and after a run like this, you’re going to pull back a little bit. And here we have uh you can see the price is kind of in between these two big potential support and resistance lines right there. So I’m not going to get too excited until it breaks to the upside. Nevertheless, it was the biggest jump that we’ve seen in a few days. So it caught my attention. Here is gold and not a dissimilar looking chart. Still at 55% year to date. What this is looking to me is more like a pennant instead of like kind of a rectangular box area. If it breaks above there, got a really good shot at testing that high. If it breaks that high, guess what? I think momentum favors more to the upside. Um central banks have been huge buyers, but the marginal buyers, the ones that have been driving this rally all year long have really been the ETF buyers. So I’d like to see them come back and uh they kind of follow price and we’ll have to see. Uh but the speculators have run up this market before and I don’t discount their ability to do that once again.

02:40 Josh

What about crypto?

02:41 Jared Blicry

Yeah, let’s do that. Uh we got that board right here. So here is the big picture in crypto and Bitcoin only up 1%. Nevertheless, we uh did some work over the weekend. So if you take a three-day look, you can see we’re up uh 4% and those lows, let me put a four day on there. I think that’ll capture it. There we go. Uh four days, then you can see that $82,000 bottom and we’re up to 88,000, let’s call it 89,000. So 7,000 based on what happened, isn’t that bad. Here’s the year to date and you can see this thing just kind of fallen off a cliff here. I did call for 75,000. Um if we get to about 90,000, that’s where I think the shorts really enter in mass. So 90 to 92 is a potential resistance block there, but I don’t think we’re in the all clear until we get to 110,000. That’s way far above. You get past 110,000, really good shot at getting to those highs again. And speaking of Bitcoin, um I got to sit down with Eddie Johnson. He’s uh on stocks and translation. He’s written a few books about crypto. He’s a great friend of the show, knows a lot about crypto and math and technical analysis. Here’s what he had to say about this latest Bitcoin slump.

03:52 Eddie Johnson

I think that Bitcoin right now is at a point where when you see blood in the streets, even your own, you invest. So I tell people all the time, practice GMB3. Do your own research, know your entries and exits and absolutely invest deliberately. Bitcoin being down at the moment doesn’t phase me at all and some people are kind of like, why doesn’t it phase you? And it’s because all of the infrastructure for for Bitcoin to become a usable, you know, tangible value is already there.

04:23 Jared Blicry

I think that’s a pretty good point that Wall Street has really invested in the infrastructure in Bitcoin and uh I’d be extremely surprised if we have this 125, 126,000 high that just last for years again, but anything’s possible. Also, if you’re wondering what he meant by GMB, uh it’s a GMBX factor and you’ll have to see the episode or listen to it tomorrow morning when it drops. That’s going to be Tuesday morning it goes live.

04:47 Josh

What’s what else is on your radar?

04:48 Jared Blicry

Uh we got, you know, I’m watching the dollar. It didn’t really do much today, but as I was saying late last week, it’s kind of at a big critical potential resistance point. Um if it goes much higher, so this is pretty good over the last three months. If it goes to like 101, then we could see some momentum and uh right down here. It’s just been trading mostly sideways, but here is that 90 oh, I drew that badly. Let’s get rid of that. Let’s just call it a rounded bottom. And if we break the 100, 101,000 neckline here, then we could probably get some momentum. That would weigh on futures including gold and silver, crypto, potentially stocks, if it moves very quickly, just because it is kind of a non-consensus trade. That’s about it.

05:27 Josh

Thank you, buddy. Appreciate it.