mike khouw, carter worth, and brian stutland on the desk tonight. >>> wti at its highest level, since last november. and brent crude $90, helping efts like the xle and oih post healthy gains, chart master is here to tell us if we should expect to keep ripping on dripping. >> you're getting reports, we heard earnings out for several, and saying, look, forget the labor costs, which are a problem ongoing but we've got a fuel problem. it's just about sequencing, oil was hated, now it's loved. look at this first chart. that's a major break above that down trend. we were at 65 a barrel, now at 92. it's right to start to fade this. at least hedge or take profits. in terms of the airlines, of course, they are now hated as opposed to crude which is loved, and we can look at a few airline charts just to figure that out together. but what we have, if you look at this, the oldest aggregate of all, a new york stock exchange airline index. it starts before the covid plunge, no lines, no judgments, let's put some in. look at this trend line. we are down to the penny, to the very well defined line in

live from the nasdaq market site on the desk tonight we have mike khouw, carter worth, and brian stutland. we start with that seemingly unstoppable tech run. despite a flat finish today it was a big week for the nasdaq as the group leads the market out of the summer doll drums and into what could be a summer to remember. apple breaking out. google hitting 52-week highs and nvidia up 230% for the year. can the technololg cal advances keep up the momentum? carter, over to you. >> before we get to the charts of course, it's so many ways if you will to look at tech, right? the xlk is the actual tech sock to have mirroring the standard and poor's sector. if one looks at the qs, microsoft and apple have a different weighting versus what they have in the xlk. expands software tech etf where there is no apple. apple underperforms almost 11 months, the tech sector, which is an incredible thing. let's look at a few charts to try to figure it out together. here, a table to make the point. expanded tech software, over the past four months up 23%. qqq and xlk meaningfully behind. that's a function of

on the desk, mike khouw, carter worth, and brian stutland. as rates close out a losing week, the financial sector trailing further behind. carter think that's indicative of a larger theme. carter? >> regional banks have been the worst. j.p. morgan has been the best. but bkx index and larger banks all struggling. brokers, they're making all-time relative highs to the bkx the the kre. on an absolute basis they look to be rolling over. let's look at a chart or two. we're going to stick with morgan stanley. the first thing to note is it's essentially the same price it was in 2000. if you have a stock that's gone sideways for 20 years, that means adjusted for inflation you've lost about half your money. every year you lose about 2.5%. that's pretty unhappy. let's zero in closer. this is the trend line in effect since the covid low. we have converging trend lines. one could say your era was wrong, carter, i think it's going to break out. i think it's right, it's going to break down. let's go shorter term and wrap here. what we have is that line is

mike khouw is here, carter worth is here, brian stutland is here, and i am right here all by my littleonesome, missing you guys. the s&p and nasdaq posted their worst weeks since march after the fed decision earl year in week saying rates will stay higher, rate cuts out of the equation for next year. that marks the third week of losses. but there's even more telling signs deeper within the markets. so before we get to any trades, go around the horn for everyone's take on where the markets stand, and carter, let's begin with you, and the big picture to be seen in the russell 3000. >> sure, so, i mean, tyler in a way, right, it's the whole shooting match, the russell 3000 represents 98% of the u.s. investable equity market, and what's remarkable is that we all know that equities in the u.s. globally, everywhere bottomed on october 13th, almost a year ago. but if you were to look at all 3,000 constituents in the russell, and we have a chart that depicts this, you know that 1,400 of them are down from where they were in october a year ago, which is to say essentially 47% of the investable

. >>> i'm melissa lee, this is "options action," on the desk, mike koe, carter worth and brian stutland>>> as the markets close out, financial sector has been trailing further behind. carter thinks that's indicative of a larger theme at work here. carter? >> interesting, of course, jp morgan has been the best but still the bkx august struggling. they're making all-time relative highs to the bkx and kre, on absolute basis they look lob rolling over. sticking with morgan stanley. first thing to note, it's quite remarkable. morgan stanley is the same police it was in september of 2000. so, now, if you have a stock that's gone sideways for 23 years, that means adjusted for inflation, you've lost about half your money. 23-experience year, year over year, lose 2.5%. that's pretty unhappy. zeroing in closer, this is the trend line in effect since the covid low. we have converging trend lines, one could say your arrow is wrong, carter, it's going to break out. ic it's going to break down. and shorter term, and wrap here, what we have is that line is in play. do we breach? it is, to be fair, a s