I think the audio is pretty good hope. Everyone is doing well morning morning, happy wednesday. It is september 8th, and we are pretty much halfway through the week in a shortened week and lets see what we got in terms of news. We got a lot of opportunity today, based on both the futures and options. Market were going to talk a lot more about stocks today, as that is the news that weve got. We got a lot of price target upgrades well talk about what that could mean and lets start off with bitcoin and crypto. So yesterday we had a pretty large crypto um news event, so why dont we jump into btc usd here real, quick and see what happened and what we had going on well go to an hourly chart. First, so yesterday we had the much anticipated news that in el salvador, bitcoin would become a legal tender. Now this rollout did not come without glitches right. We had some kind of technical difficulties, surprise, surprise getting a digital currency as a legal tender. Isnt going to be the easiest thing in the world, so the digital wallets in el salvador had to come offline to be fixed, but social media also highlighted some of the positive stories such as one user tweeting about successfully paying for his mcdonalds breakfast with bitcoin el Salvador president bukele also took to twitter to provide updates on the rollout and countrys holdings, noting that it was a buying the dip, so the country now holds 550 bitcoins according to the latest.

Update and bouquet also took a swipe at the imf, which has said it has economic and legal concerns with the move to make the crypto legal tender, which would complicate negotiations for a much needed 1 billion assistance, 1 billion dollar assistance package, thanks for the dip at Imf news, we saved a million in printed paper. He tweeted, which many on the platform then speculated uh, that the imf had tried to push the price of bitcoin lower, although without specific evidence now right around 10 a.m. Eastern we saw that really strong drop. We moved below 50 000 and the low of the move here was 42 900 right. We dropped a significant amount about 10 000 us dollars on the bitcoin market and later popped up about 4 000 into where we are right now. So bitcoin is trading around 46 40, almost 47 000 having fallen about 17 below 42 000 yesterday and ethereum traded is trading right now around 3 300, after falling below 3 000 yesterday, while dogecoin is at 24 cents, having held a 21 cent during that sell off. So a lot of bitcoin mining companies like riot mara, are up slightly pre market and coinbase, also trading a little higher. There is potential in coinbase. Keep that in mind. So with that drop um, it looks like a dip buying opportunity. We saw that remember yesterday. There was a subreddit in brazil that wanted to show solidarity by buying 90 million bitcoins.

I havent really seen too much or 99 90 million dollars. Sorry worth of bitcoin. I havent seen too much on that yet, but its gon na be interesting to see what we get throughout um the next few weeks next few months as el salvador continues to roll out its new legal tender with bitcoin. So its gon na be something to keep an eye on lets, see if bitcoin gets a pump from that or if crypto takes another little sell. So its gon na be very interesting, will mcdonalds be worth the same amount of bitcoin, probably depending on the price. So, even if bitcoin drops mcdonalds, probably gon na be worth the same amount. So keep that in mind and the imf might have some kind of um reasoning behind uh some kind of logic behind this as to the much needed one billion dollar assistance package, because that could easily drop if theyre paid in bitcoin. Right. Remember that so. In other news, we have a lot of stock news to cover today, um first im going to start off with the big tech upgrade. So this morning we got a plethora of big tech upgrades from google, netflix and microsoft. Now microsoft was upgraded by uh, who was microsoft, upgraded by jeffries to 343 dollars, so microsoft is trading just slightly below 300 right now, as we got this crazy rally over the past few weeks, it got a price target. Upgrade um netflix got a price target upgrade from jp morgan to 705 from 6 25 and netflix has been on an eight day streak to the upside, so thats very interesting um, and then google got a price target.

Upgrades price target upgrade of 3 400 from guggenheim. So google has had a crazy, crazy rally and were continuing that rally. You can see this. This super strong trend line right here is unbeatable. It seems ever since we broke some of those resistances above this range that we had held for the longest time around 2000. Now were printing, almost 3 000, so um, some of the thought processes behind all these price target upgrades coming in just now is that were seeing a pullback in the overall market right spy and triple qs are pulling back and there is seasonality coming around and there Is the potential of a five to ten percent drop coming into the end of the month? Now, with all these price target upgrades theyre gon na pump big tech names up and as you guys all know, that big tech is a large portion of the s. P. 500 index and the triple q index so with that being said, um this could be a slightly sustained upside move or trying to stall out any of the downside with these big tech upgrades because they are going to look for that continuation move to the upside right. So, with big price target upgrades like that youre gon na youre gon na anticipate that those big tech names are gon na continue and theyre going to try to pull some of the larger etfs higher like spy and triple qs. In other news, we had more stock news, so neo neo is a electric car manufacturer out of china.

Weve seen it drop pre market. Why did it drop pre market after filling that gap? Oh so well, we we still have the potential to see neo as a 60 70 stock, but it got stifled a little. Why is that says it filed to sell up to two billion dollars worth of ads through an at the market equity offering the electric company? The electric vehicle company entered into an equity distribution agreement with the sales agents relating to at the market, offering sales of ads under the at the market offering will be made from time to time or not at all. At neos discretion sales may be made at the market prices prevailing at the time of sale or negotiated prices. So neo plans to use the proceed. The proceeds from at the market offering to further strengthen its balance sheet, as well as generate corporate purposes, so naturally offerings like this have some kind of downside play in the stock itself and thats. What we saw yesterday, sorry this morning, pre market, and we could see a little more continuation to the downside. Now there is anticipation that we kind of base out and form a bottom here around these, like 33s 35s on neo, and see that projected move to the upside, but were probably gon na, have to see it back above that 47 area to see any potential move Into that 60., so keep that in mind in terms of some other news, some other big tech news, um intel plans to invest about 95 billion dollars to build semiconductor production facilities in europe.

Another step in the companys plan to become a global foundry player. Amid the chip shortage, so intel plans for two chip factories at a new european site and it could expand it further up to an 80 billion euro investment over about a decade. According to the comments of chief executive, pat gelsinger at an auto industry event, and then we got facebook to add to the big tech news. Facebook plans, uh facebook and ray ban have a teaser up that appears to promote their planned smart glass with an event coming thursday, so this thursday tomorrow were gon na have to keep an eye out. The release of the new glass was set up by facebook. Chief mark zuckerberg in the companys july earnings call looking ahead here. The next product release will be the launch of our smart glasses from ray ban in partnership with a celsius or sorry essa, lux luxotica, im, not sure what that is, the glasses have their iconic form factor, and they let you do some pretty neat things. The glasses would be progress on the journey toward full, augmented reality glasses in the future. So we potentially got some smart glasses coming out of facebook tomorrow. That could be a pretty big event for the company and we could see a little more upside in that. So again, big tech, remember microsoft. Facebook now uh, google and netflix have large um potential upside in the coming days. Weve also got some other news in netflix, saying that it expects to see big gains in international markets over the coming years.

Atlantic equities analyst hamilton faber raises his price target of the companys stock to 780. So much further than jp morgans, so faber moves uh fabers move makes his price target the highest among wall street analysts who cover netflix and represents almost 29 increase from that 605 606 level, which netflix traded on monday, so thats, some other good news again. Another price target upgrade and then amc. I want to talk about amc here on the screen as well, because amc i want to show you guys is creating a very, very nice reversal pattern. What i like to call here, i have a alert set up at 48.20. I know the highest 48.30 here, so i want to be alerted just before that and with amc. If we break this resistance, thats been tested multiple times. I think we get a nice run. Not only does this have a nice short squeeze, but it has some news coming out of it as well. So cinema stocks rallied yesterday led by amc. You can see amc a nice green day right here. It was up about almost nine percent after the latest marvel uh. Superhero movie shook up the shook up a traditionally slow weekend at theaters, so shang chi and the legend of the ten rings. Ive, honestly, not even heard that movie broke labor day records, drawing 75.5 million dollars over three days and 90 million dollars domestically for the four day holiday period. Now the film had been tabbed with high expectations from 45 to 50 million opening, but the thursday previews pointed to an uh to a more enthusiastic expectation.

The 75.5 million three day total is second only to the marvel film black widow, which grossed 80 million dollars in the pandemic era. Passing f9 770 million and a quiet place twos 48 million. So amc good news and keep an eye on this guy. So im expect expecting to see another potential short squeeze coming out of this guy. As we come into that 48 area. The targets gon na be where the big volume is around 57 58. Even the 60 area, where we saw those highs so keep an eye on amc. I think this could be a nice mover on the day, some other names to consider bbig. If we get a bbi g cross above 12, im expecting a nice short squeeze into the 30 35 area and then spy got rejected off its resistance. Were gon na have to watch that guy very carefully, so im not gon na do too much spy analysis here were gon na get ready for a room, so we dont run behind schedule and well see everyone tomorrow. I hope you guys are enjoying these screen updates.