Caterpillar. And thats no bulldozer. And Professor Mike khouw is this is an interesting situation. Is running through duelling option exercises on how to play nike going into next weeks earnings. If you already own the stock or not, you can just do it. Its time to risk less and make more options action starts right now. Welcome. I love doing this show, but ive got to take an issue with that deepvoiced guy. He says barrel of cheeseballs like its a bad thing. Really come on. Well, it has been a maybe not bad but tougher year for the consumer space the xlp Consumer Staples is up but just over 1 so its underperforming the Broader Market carter worth, a man who maybe has seen a barrel of cheese balls in his day, says there could be an even Bigger Consumer crackdown ahead. Carter, what are the charts telling you . A bunch of things going on. One thing to consider is that the dollar, which has been very, very weak, has started to stabilize. Second only to technology, the staples sector is dep
Today. We start out of with the fed staying put. Jerome powell signaling the rates will stay near zero through 2023 stocks getting an initial pop, but reverse course as the fed share took questions from the press. Steve, what was it, do you think, that spooked the markets . You know, its always hard to know maybe one of those sell the news things there was a bit of history in the statement where the fed for the first time put in the statement that its new goal is to seek inflation above 2 that was in the longterm policy strategy but it had not yet been in the statement. This is the first statement following that change. It was a bit like there was nothing behind it in the sense that, the question that i asked, i said, well, how come your forecasts dont show you hitting the goal, not even in the fouryear horizon here the fed chair didnt really have a good answer for that you would think if you said, you know, im going to move this tanker faster, you know, youd be pushing the throttle do
Beijing. Its markets, g president xi say both side have increase talks. Amid a cuts, it comes drop this quarter. And joining london me very, very shortly, its called technology, when she is ready, she will join us. Through on s coming bayer, the company in germany, point of the weed thousands more u. S. Wind up weed killer has been a deal reached. This is the breaking headline coming through. That the court filing was late monday epresenting consumers argue that roundup had caused their cancer. A little more detail on that, we bring that to you. Nne marie will be with me, but absentia of herself, a snapshot of the markets. The narrative of recovery and victory for trump, how does it translate, its data and the recovery coming through in china that equities chinese higher. 6 of 1 , the trifecta, sales, investment and wise. Ction yuan trades higher, how much stronger will it get. A man concerned about relapse. Cable peaks in the green at 8. 67 despite the political chair s in westminster
Were going to find out why. Plus, tiktok goes the clock. Were all over latebreaking developments on tiktok and wechat negotiations coming down to the wire. Later on, wheres the beef what fed shares of beyond meat into the grinder today were going to begin with the worlds Biggest Company in a little bit of a world of pain lately that is apple falling another 3 today. It is now down 22 from its record high earlier this month that, my friends, a market cap loss of only, you know, 500 billion. Put that into perspective. That is equivalent to an entire visa, a j j, maybe a walmart and a Proctor Gamble shares of alphabet, facebook and amazon also dropping this week is this just a tech timeout or do you see a rollover and maybe some more pain ahead on the tech trade . No. I see a rollover this is something that i positioned myself forprobably about a month and a half or a month or so. When you look at apple, apple is 13 of the qs, amazon 10 , microsoft 10 of the qs. When you look at a chart o
Forward is likely at an end. A few charts the first of several. The first, here is the xlp youll see they have a small head and shoulders top formed in this particular chart. If you look at the next chart, ive kept the head and shoulders top and also included the trend line in effect since the march low. We have two circumstances. We have a reversal formation, a head and shoulders top and we have a break of the trend thats been in effect since the march low. Third chart, another way to consider the facts, this is now a line across the top connecting the january and february peak prepandemic what we know is the xlp did break out, but now its fallen back below the level from which it broke out take a look at one more chart. This is the head and shoulders top in relation to the line drawn along the pandemic peak before the selloff anyway you slice it and dice it, we have distribution and it looks like theres more to go. Two more things. Take a look at this table. One thing we know about t