Do you believe, though, with the selling that we saw last month, do you believe that that's a healthy correction or perhaps even an entire AI valuation

reset? I think it could be a tremendous reset and certainly a possibility.

But there's also, you know, if you look at the prices here, we did hold in semiconductors a key moving average.

If we break down beneath those lows that were set on Friday, I'd be very, very concerned.

And it could drag down the breadth that has been improving on non-tech related stocks.

So retail is doing good.

Uh, you know, biotech, which is actually the recipient of the new technology, is doing well.

He's got the night shift over at the laundromat.

Do you believe, though, with the selling that we saw last month, do you believe that that's a healthy correction or perhaps even an entire AI valuation reset?

I think it could be a tremendous reset and certainly a possibility.

But there's also, you know, if you look at the prices here, we did hold in semiconductors a key moving average.

If we break down beneath those lows that were set on Friday, I'd be very, very concerned.

And it could drag down the breadth that has been improving on non-tech related stocks.

So retail is doing good.

Uh, you know, biotech, which is actually the recipient of the new technology, is doing well.

So what do you think, though, with the election being tomorrow, how could that impact positively on the pot stocks?

Do you think, though, when you look at the divergence of items here, when you start looking at your inputs, when you start thinking about whether we can start a real healthy trend, Are you seeing some discrepancies here, though, that we could possibly think that this rally is not going to hold?

Well, what's interesting is there are certainly discrepancies.

And if anything, what seems to be happening is it's now favoring a potential rally, especially looking at the action today.

So underneath it all, you know, if you look at the S&P and the NASDAQ, they've been down.

They've been in warning phases, according to our phase analysis, which means they're under their 50-day moving average.

And it looks like, you know, things are under pressure.

But as we mentioned last week, underneath the surface, the actual amount of stocks going up has been significantly improving.

are your friends in Israel telling you?

What do you think?

Well, listen, with the sell-off in a lot of the tech here, what could be happening is people who had taken advantage of the downside over the last couple of weeks in tech are buying it back in front of earnings so they don't give back their profits.

That's also another possibility.

So we'll see.

They could be right in covering, and we could get a key reversal.

Certainly, the seasonals here are still overall positive.

And like we've pointed out over the last several sessions together, October is generally really good, except when it's really, really bad.

Can we still see higher highs while we continue to see rising rates?

Right now, though, what do you think? Was that just a one-off, or do you think we might be in for some good times in the days ahead?

I just want to say it's a very confusing message right now in as the markets opened up this morning.

There was some important news about Chinese chip capacity and.

how powerful their chips are that drive AI compared to U.S. chip manufacturers or ones that are not Chinese.

And that hit the semiconductor semiconductor index really hard.

And that was something, of course, I didn't know about, but we were talking about that last week about how important it is that the semiconductors hold up here.

And one thing that's happened is it seems like there could be a double top forming in semis.

Do you still believe that, though? Do you still believe that we could be looking at a just a huge hitting higher highs in the major averages as we close out the year?

So is it, are you coming up with this idea of a bubble indicator because you see it, or are you being influenced by others in the media that are saying we're in a bubble?

Well, I think it's an important concept, and I am seeing evidence of elements of a bubble.

One thing that is very clear is you can be in bubble territory in multiple different categories that measure bubbles and still not sell off.

So it's market timing that's crucial.

So that is the important thing to note.

So for instance, when Michael Burry started getting short, the market, anticipating what was happening in 2008, it, he was two years early.

So the market exploded to the upside, uh, in 2008.

S- shall we be concerned at all about this 5% 10-year Treasury?

So is it, are you coming up with this idea of a bubble indicator because you see it, or are you being influenced by others in the media that are saying we're in a bubble?

Well, I think it's an important concept, and I am seeing evidence of elements of a bubble.

One thing that is very clear is you can be in bubble territory in multiple different categories that measure bubbles and still not sell off.

So it's market timing that's crucial.

So that is the important thing to note.

So for instance, when Michael Burry started getting short the market, anticipating what was happening in 2008, it- he was two years early.

So the market exploded to the upside, uh, in 2008.

I gotta worry about AI killing everyone by the end of the decade.

We had a jobs report come out on Friday, which was much weaker than anticipated, yet the stock market really soared higher we're only i believe six well it's maybe 60 basis points away from an all-time high in the s p 500 so you have this crisscross of information that is happening plus all the other uncertainty you've got an election in less than 30 days you have the geopolitical conflicts so many things are you finding it all this information and knowledge is it is it disruptive to how you forecast your models at MarketGauge.com or even just forecasting the stock market as a whole?

Well, trying to forecast the stock market and looking at how the markets or how the world is behaving, you could easily make a case that you know, there's going to be peace in the Mideast, or at least, you know, quieting down of things.

You would say, hey, listen, the left in Brazil would have clearly won this, you know, election.

That looks like everything that you could reliably or reasonably predict is not happening.

And so in essence, I understand that and lived through it in other periods.

And letting the market determine what is going to happen and what the forecast is, is really the way to do it.

It's almost impossible.

But what are your thoughts?

Are you finding it, all this information and knowledge, is it, is it disruptive to how you forecast your models at marketgauge.com or, or even just forecasting the stock market as a whole?

Well, I, trying to forecast the stock market and looking at how the markets or how the world is behaving, you could easily make a case that, you know, there's gonna be peace in the Mid East, or at least, uh, you know, a quieting down of things.

Uh, y- you, you would say, "Hey, listen, the left in Brazil would've clearly won this, you know, uh, election." That's, looks like everything that you could reliably or reasonably predict is not happening.

And so in essence, I understand that and lived through it in other periods.

And letting the market determine what is gonna happen and what the forecast is is really the way to do it.

It's almost impossible.

This is some, one...

With all that said, though, no matter what happens with the election on November 3rd, what's your anticipation and forecast for oil after the election? Post-election volatility seems like it's going to be extreme at a 10X level than what we're already seeing right now, but what are your thoughts?

Are you finding it, all of this information and knowledge, is it, is it disruptive to how you forecast your models at marketgauge.com or even just forecasting the stock market as a whole?

Well, uh, trying to forecast the stock market and looking at how the market's or how the world is behaving, you could easily make a case that, you know, there's gonna be peace in the Mid East, or at least, you know, a quieting down of things.

Uh, y- you, you would say, hey, listen, the left in Brazil would've clearly won this, you know, uh, election.

That's, looks like everything that you could reliably or reasonably predict is not happening.

And so in essence, I understand that and lived through it in other periods.

And letting the market determine what is gonna happen and what the forecast is, is really the way to do it.

It's almost impossible.

With all that said, though, no matter what happens with the election on November 3rd, what's your anticipation and forecast for oil after the election? Post-election volatility seems like it's going to be extreme at a 10X level than what we're already seeing right now, but what are your thoughts?

Are you finding it, all of this information and knowledge, is it, is it disruptive to how you forecast your models at marketgauge.com or even just forecasting the stock market as a whole?

Well, uh, trying to forecast the stock market and looking at how the market's, or how the world is behaving, you could easily make a case that, you know, there's gonna be peace in the Mid East or at least, uh, you know, a quieting down of things.

Uh, y- you, you would say, "Hey, listen, the left in Brazil would've clearly won this, you know, uh, election." That's, looks like everything that you could reliably or reasonably predict is not happening.

And so in essence, I understand that and lived through it in other periods.

And letting the market determine what is gonna happen and what the forecast is, is really the way to do it.

It's almost impossible.

This is some, one...

With all that said, though, no matter what happens with the election on November 3rd, what's your anticipation and forecast for oil after the election? Post-election volatility seems like it's going to be extreme at a 10X level than what we're already seeing right now, but what are your thoughts?