let's bring in btig's jonathan krinsky.watching the 400 level as most people are and it got awfully close and here we bounced a little bit and where do you see it headed from here >> hi, scott when you talk about resistance, it's never a fine line i think the 400 to 410 level is pretty significant if you think about the last few months since they had the gap earnings in may and it's the 410 level in mid-june and it tested in late august and mid-september and again, here we are in mid-october. so typically double bottoms can happen and once we start testing in a level three or four times, it ultimately does come and the issue with nvidia is there's this big gap with price and volume and because of the gap it had the runaway move this summer, there wasn't a lot of volume that transacted between what's called 300 and the 370 level. so we think 400 is important and once it breaks 370 there's a shot at 350 and then it's your 10% downside and ultimately, we can't rule out the earnings camp for may which will get you back down to

speaking of all aspect as we get ready to do our finals, jonathan krinsky of btig just publishing a noteking about what's going on in the market and even that is approaching what he determines to be the end of the runway. we mentioned that communications services, technology today. those two sectors are the only green ones. discretionary just trying to get there. basically it's flat, but man, utilities are getting smoked down 5 1/3%. energy is terrible today, down 2%. materials down nearly 2%. health care is weak. staples are weak. we'll keep our eye on, joe, utility, too, as we head toward the exits today. rates have been elevated and that's the picture you've seen on your screen for most of the day. >> small caps are equal weighted, as well. >> okay, shan, give me your final trade, please. >> consumer staples. discretionary to staples will happen and we're particularly interested in beverages and hous household goods. >> mr. belski? >> doordash. when i'm not taking steve out for thank you dinners, doordash. $400 million of operating cash. >> you own it? >> yes, i do. >> weiss? >> short

that's where broadcom comes in jonathan krinsky says, come at the king, you'd better not miss, talking about nvidia and suggest at least 10% more down side is ahead. now i know because it's not yours. you may not have a specific opinion on nvidia but the space itself can't afford, i'm saying, to have an amd miss today and nvidia break down another 10%. a lot of other names will go down with it if it does. >> of course that's where your opportunity will be. the pc market is bottoming i do think that we're also hearing the end market is bottoming. we heard from lam research they increased guidance twice so far. the stock is still down a lot from a year he ago so i do think you'll be able to pick your spots. br broadcom is getting wrapped up 55% of their revenues is going to be recurring. i think there are opportunities. you asked at the top of the show if you think -- if we think there's a rally into the end of the year, i absolutely do. i think the sentiment is washed out here you're looking at the s&p oscillator, you look at josh's rsi stuff. it's pointing to negative sentiment. i thin

. >> the problem, kari, you have people like btig's jonathan krinsky saying it will not be the low. people expect it to hold and you get a nice rally into the rest of the fourth quarter, but he says it may not be the chris. another says yesterday's rally hardly gives you the all clear. you didn't even get 2 to 1 advancers to decliners, the internals are week. barclays, we believe we have substantial room to reprise lower before bonds stabilize. that's where the narrative is. everybody is getting negative, so maybe that's a positive. >> i think what you're hearing are the people are raising their voices and the people who have been bullish are very quiet right now because the last couple of weeks are not playing into anything that's optimistic. i think we have to see what comes out of those jobs numbers, and the jobs numbers that we saw from adp were lower. we know, by the way -- josh said, this could be lows for the year. we could see the market come down some, but think what's happened to inflation through the course of this year. it's continued to go lower, and it's still going lo

then there's the jonathan krinsky's of the world who say reckoning is coming for those names, take a look at what's happening under the surface, they're too top-heavy and they're going to roll over, it's just a matter of time and that's what's going to be defeating for the market. >> they're very well owned, number one, and they're very well supported by the sales side as well, so the sentiment is not in your favor. that said, in the last couple of weeks, they've actually taken a pause. and in the face of energy rising, industrials rising, i would argue we are seeing a broadening in the market. do you need tech to go higher for the markets to go higher? probably, but the earnings are going to be good, and sentiment has come down a little bit. and maybe it's some of the garpy names will do better, the ones you can defend the valuations. something like amazon or meda or alphabet or some of the higher flying names like nvidia and tesla and that sort of thing. >> we will see you in the market zone in just a little bit, i appreciate you being with us today as well. we will see you again s