jeff degraaf >>> here's where we stand in the markets. 122, the s&p 500 riding 4135. after the break, the street is buzzing about coinbase after brian armstrong defended the company on cnbc and then short seller jim channos laid out the bear case on halftime. we'll break down both sides. >>> of course you can listen to "closing bell" on the go by following the "closing bell" podcast on your favorite podcast app. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire if you have this... and you get this... you could end up with this... unexpected out-of-pocket costs. so if you're on medicare, or soon to be, consider this. an aarp medicare supplement insurance plan from unitedhealthcare. medicare alone doesn't pay for everything. and what it doesn't pay for, like deductibles and copays, could add up to thousands of dollars. medicare supplement plans help by paying some of w

not plus do the charts say the market is at a bottom and we'll talk to the hall of fame analyst jeff degraaf and beforethe break, a look at bed, bath & beyond beyond the stock is up ahead of a strategic business update later this week. up 30% today and expected it talk about cash, bun, financing and laundry skbaets. more "power lunch" straight ahead. >>> welcome back, everyone high inflation and recession fears have consumers cutting spending wherever they can and one of the first places is dining out that's part of our new power lunch cookbook series. we'll take a look at overlooked stocks in the restaurant ecosystem from beverages to food delivery and more, and today we talk suppliers names like chef's warehouse, sysco and tyson. our next guest has best positioned names as we head into this economic unknown. we welcome in nicole miller reagan, she's managing director of equity research at piper sandler. nicole, welcome. how would you kaucharacterize te restaurant business? it's not one entity and it's a bunch of different segment ins and how would you characterize it right now or segment i

been times you've gotten those readings and rolled over and had a quasi-retest or gone back down jeff degraafed about 1962, 1973 and 1974, another scare pretty quickly, didn't get back to the lows but right now there are those who look at those breadth and momentum readings and say, okay, that was real demand you can't just dismiss that. it was somewhat stronger than a typical bear market rally. >> mohamed, trying to figure out actual numbers like 3,600 on the s&p, is there anything in the action that you saw that we watched together as we did rebound from june 16th that makes you change your notion of seeing new lows? you sounded like you didn't want to go 3,600 anymore. it sounded like you think we could go lower but maybe not touch new lows did it convince you more staying power to a better market than you thought before >> what has really impressed me, and i'll be curious what mike thinks, is the strength of all the technicals if you look at what the market has had to deal with, it's had to deal with the fed being hawkish, had to deal with shorts at very high levels being set against stoc