Bob discusses the patterns that are currently unfolding in the market and the anticipation for Friday’s unemployment numbers. The market has been trading sideways for the past 10 days, but the analyst predicts that it will start climbing up again, with the NASDAQ showing better strength than the other indexes. The unemployment numbers are expected to improve, and Bob says they are unlikely to explode and go up to 5 or 10%. The daily 10-year chart projects downward projections, but there is potential for an upside bias for the next day, and Bob expects to see some upward movement in the market in the upcoming days.
- 00:00:00 In this section, Bob discusses the patterns that are unfolding in the market, which are currently non-committal to either side. The database has taken a downtick, but it’s not yet extreme. Bob also mentions that the markets were choppy yesterday, with little positivity or negativity. He expresses relief that Paul is done talking and mention that the Federal Reserve is expected to keep rates higher for a longer period, though he suggest that “longer” could mean up to a decade.
- 00:05:00 In this section, Bob discusses the anticipation for Friday’s unemployment numbers and notes that the potential for unemployment is likely around 4.2%, with the Friday report expected to be at 3.3%. There is not much expected to change with the claims and continuing claims, and Bob suggests that as long as those numbers remain below 2 million, there is nothing to be concerned about. The real estate market is stabilizing with increasing activity despite prices still backing off. Bob highlights that there will not be any significant news tomorrow, and the market is likely to print around the same levels. However, the unemployment numbers are expected to improve, and Bob says they are not likely to explode and go up to 5 or 10%.
- 00:10:00 In this section, Bob questions when the continued low unemployment numbers will actually equate to a positive outcome rather than a negative one. He believes that people’s fear that increasing employment numbers will lead to a rise in interest rates is unfounded and said the Federal Reserve wants to see some normalization. Bob argues that the employment numbers should contribute to a rise in returns, but if they do not, it would suggest that people are not spending their money. He urges people to be aware of the narratives surrounding the market and to think for themselves instead of being immediately swayed, particularly by contrary headlines in financial magazines.
- 00:15:00 In this section, Bob discusses the potential for a quiet day with an upside bias for the next day. He analyzes the wavetech database and notes that if they get below 22 in the database, this will result in full liquidation and could suggest lower numbers for the S&P. He also provides hourly charts and discusses the London opening as a key area for liquidity and trading. Bob anticipates stabilizing numbers and will discuss tomorrow whether or not the job numbers from Friday’s run will affect the intermediate as he doesn’t think it will materially affect the models. Overall, there is a continued liquidation on the short term, but there is potential for an upside bias for the next day.
- 00:20:00 In this section, Bob discusses his predictions for the stock market and the upcoming unemployment numbers for Friday. He notes that the market is likely to see a bid due to short covering ahead of the employment numbers and points out the blowout numbers from last month. He also observes that the market has been trading sideways for the past 10 days and predicts that it will start climbing up again, with the NASDAQ showing better strength than the other indexes. Overall, he predicts an S1 R2 for Thursday session and expects to see some upward movement in the market in the upcoming days.
- 00:25:00 In this section, the focus is on Friday’s unemployment numbers, which are anticipated by the market. The NASDAQ was up 0.40%, the Russell 0.4%, and the S&P 0.14%. S1 R2 is expected for Thursday’s range across these indexes, with no significant claims expected to create any volatility. The daily 10-year chart projects downward projections of 385, and the big pivot stands at 365. Fibonacci targets project the minimum of the 21-period moving average, and the ALL GOES is pointing lower, with the possibility of printing lower numbers ahead. A 10-year auction is discussed, with coverage at 2.35, indicating the amount bid is 2.3 times the amount being offered.
- 00:30:00 In this section of the video, Bob discusses the recent auction and rebound of the market, as well as the potential for future patterns in the Futures chart. He highlights the downsloping pivot point of 112 20.5, which could potentially lead to a rejection point at around 381-382. Bob also mentions the recent trade in crude, which has resulted in a three-day trade to the downside. He suggests possible future patterns and discusses the criteria for shorting and going long on Apple.
- 00:35:00 In this section, Bob discusses the latest patterns observed in gold often being supportive, but the new Fibonnaci targets make it seem unrealistic to continue being positive on gold. The upward projections and downward projections are exaggerated, so there is some downside risk to $1775. Next, Bob shifts to discuss Bitcoin, stating it is moving toward a Fibonacci Target, and the Algos are showing some stability, possibly holding at the support. Worst case, Bitcoin is locked within $21.5k on the downside and $23.3k on the upside, but we may see some upside if Bitcoin holds at $21.5k. Bob thanks the moderators and Levi Dirtbag-free zone before concluding the video.
- 00:40:00 In this section, the transcript consists of audience applause and foreign music and lacks any relevant content.