The Market Just Broke Out of a Three-Month Range for the First Time.

For the first time since early May, the broad market has punched above the range that had held it all summer. Tim Knight says three months of pent-up energy just got released, that new highs tend to beget new highs, and that this pours cold water on the bearish case. The move is being led by the mega caps that had been lagging the whole way up. Crude is going the other way, cutting through support, and he argues the chart tells you more about where the conflict is heading than any feed will. He reaches back to the 1991 Gulf War, when everyone expected crude to spike and it collapsed almost immediately, as a lesson in recency bias. The desk also previews two reports landing tonight, a major chip name where they are using defined-risk calendar spreads because the options are expensive, and a first-ever earnings report they see as a litmus test for the entire AI build out. All views are theirs. 📊 tastylive: https://www.tastylive.com/ 📰 Get Tom's pre-market analysis every morning: https://www.tastylive.com/newsletters 📘 FREE Options Strategy Guide: https://tinyurl.com/bp9ms763 📱 Follow tastylive on X: https://x.com/tastyliveshow Chapters 00:00 The severity of the bounce 00:09 Breaking above a three-month range 01:06 What crude is really telling us 02:31 A lesson from the 1991 oil shock 03:39 Recency bias in war and trading 04:13 Semis stay stuck in their range 04:53 Playing chip earnings with calendars 05:28 A first-ever earnings report tonight 06:30 Why it is a litmus test for AI 08:15 How the desk is positioned #tastylive #timknight #breakout #stockmarket #tradingcharts #crudeoil #semiconductors #earnings #spacex #investing tastylive is a real financial network, producing hours of live programming every day. Follow along as our experts navigate the markets, provide actionable trading insights, and teach you how to trade. With over 120 original segments, and over 25 personalities, we'll help you take your trading to the next level, whether you are new to trading or a seasoned veteran. tastylive content is created, produced, and provided solely by tastylive, Inc. ("tastylive") and is for informational and educational purposes only. It is not, nor is it intended to be, trading or investment advice or a recommendation that any security, futures contract, digital asset, other product, transaction, or investment strategy is suitable for any person. Trading securities, futures products, and digital assets involve risk and may result in a loss greater than the original amount invested. Investment information provided may not be appropriate for all investors and is provided without respect to individual investor financial sophistication, financial situation, investing time horizon or risk tolerance. Options, futures, and futures options are not suitable for all investors. Prior to trading securities, options, futures, or futures options, please read all applicable risk disclosures, including, but not limited to, the Characteristics and Risks of Standardized Options Disclosure and the Futures and Exchange Traded Options Risk Disclosure Statement found at https://tastytrade.com/disclosures/. Past performance is not indicative of future results. Performance is not presented net of all commissions, fees, and expenses. Multi-leg option strategies incur higher transaction costs than single leg trades as they involve multiple commission charges. Examples provided are for illustrative, informational, and educational purposes only and are not intended to be reflective of results you can expect to achieve. Supporting documentation for any claims, including claims made on behalf of options programs), comparisons, statistics, or other technical data, if applicable, will be supplied upon request. tastylive, through its content, financial programming or otherwise, does not provide investment or financial advice or make investment recommendations. tastylive is not a licensed financial adviser, registered investment adviser, or a registered broker-dealer.