and jon najarian will join us and katie stockton will read the cea leaves with the markets rent down turn a very busy morning ahead when we return after this >>> welcome back supply chain struggles continuing around the globe with almost every company mentioning the impact on their earnings calls. according to rbc, the struggles may not let up any time soon joining us now is michael tran at rbc capital markets he is analyzing the pace the ports are trending michael, thank you for joining us digital intelligence what kind of data are you looking at is it the port blockages what is shaping the view on supply chain >> thank you, dom. our view with digital strategy within rbc where the idea is we look at research powered by data science and alternative data our approach toward looking at major macro issues is anything but normal when you talk about the ports, we use special analytics to monitor 22 of the ports. what we do is to understand what is happening at the port is we use a geofence or draw a boundary at the port with that boundary, we leverage or monitor ship transponders we look

katie stockton, we will leave it there.>> thank you >>> mike, as we gear up for tomorrow, a remarkable recovery for the nasdaq today something worth paying attention to fed chair powell before the senate for his confirmation hearing. we know a little bit from some of his testimony that he's going to say that he's going to use the tools to prevent inflation from becoming entrenched not a surprise i think the question for the markets though is to what extent will they be using those tools that has been the source of the volatility lately. >> yes >> four rate hikes, balance sheet shrinkage earlier than normal and how can the economy absorb all of that what will you be watching? >> to what extent they will use all of those tools or to what extent the market has already kind of absorbed this message after the minutes last week, after we've repriced the forward at fed funds curve to a fair degree so it will be interesting to see if the market reacts to anything that sounds hawkish from powell as to say, hey, this is what we alrea

katie stockton joins us next.york and london, this is bloomberg. ♪ kailey: this is the european close. coming up, dr. steven corwin, new york presbyterian president and ceo at 12:30 to new york and 5:30 in london. this is bloomberg. let's check it on the bloomberg first word news. the ceo of intel is optimistic about the chances of legislation helping the domestic chipmaking industry. he spoke to john micklethwait at bloomberg's year ahead conference. >> we are seeing strong response on the part of u.s. government with the chips act, which is in congress as we speak. we are hopeful before the continuing resolution ends in february that timing is one that all of the legislators are lining up to get across the line and there is a similar timeline in europe as well. we are optimistic and think it is a great start. kailey: the chips act would create domestic manufacturing incentives for the chip industry. antony blinken says a diplomatic resolution to the stand up with ukraine is in the hands of vladimir putin. at the

if we don't get it, tesla will look very broken in our work >> katie stockton, thank you for joiningtoo >>> up next, eurasia group president ian bremmer joins us on the risk to the market from the increasing tension between russia and ukraine details of a new survey coming later on "closing bell." thanks for coming. now when it comes to a financial plan this broker is your man. let's open your binders to page 188... uh carl, are there different planning options in here? options? plans we can build on our own, or with help from a financial consultant? like schwab does. uhhh... could we adjust our plan... ...yeah, like if we buy a new house? mmmm... and our son just started working. oh! do you offer a complimentary retirement plan for him? as in free? just like schwab. schwab! look forward to planning with schwab. well, would you look at that? jerry, you gotta see this. seen it. trust me, after 15 walks... gets a little old. i really should be retired by now. wish i'd invested when i had the chance... to the moon! ugh. unbelievable. the pursuit is on. the pursuit of outperformance at p

rates loom over the market the question, then, becomes is the selling overdone let's bring in katie stockton sees more pain ahead. katie, welcome higher interest rates weighing on home builders not just consumer companies, but take us through your arguments here. >> really just today we downgraded the sector in relative terms versus the s&p 500. we did that, because we have breakdown, for one example, the ratio of the spdr to the s&p 500. that took out the 200-day moving average. also a breakdown in xly itself and respect that, and reduce exposure in following, noting that next support levels are pretty well below. amazon is probably the best example, one of the biggest drags as of late, amazon has a pretty major breakdown on its chart. if you look at something called the cloud model, it's just a gauge of support appeared resistance that support level was taken out for the first time since 2015, and does a deeper risk of a corrective phase it doesn't mean tomorrow or next week, and as you mentioned the home builders have been under pressure we think kneeled with work their way higher the hom

i want to go to the charts, to katie stockton. katie, we need your chart magic.tart with the nasdaq 100. we're talking about these really birx important influential names, dominate nasdaq 100, but all major indices are finally showing your weakness. where do we have support? where could be the potential turn around for the nasdaq 100? >> the first important takeaway was "faang" stocks or megacaps, that they are broken on their charts. so that is really the intermediate term bearish bias that i think we need to take away from the recent price action. yet, of course we do have a very deeply oversold reading, not just the nasdaq 100 index but the s&p 500, of course the russell 2000 index which has underperformed as well. that is over all focused on today. we have big extremes that support a bounce. will that bounce be enough to help the nasdaq 100 index avoid another break down is sort of to be determined. charles: right. >> the level in play is 14,400 for the nasdaq 100. it need as very quick snap back above that level this week to prevent a break down or another b

charles: joining me now the founder of fair leaf strategies, katie stockton, katie the s&p 500, i will say i'm looking at this and sort of amateur, okay? it looks like it's still in this perfect panel, it bounces off the bottom to regularity, and makes new highs, can we take some comfort in that? >> well i think so, i mean, the momentum is still there behind the s&p 500 and even the nasdaq 100 but of course, under the surface, we've had some developments that are a little disconcerting. i'd say first and foremost especially as it pertains to the nasdaq 100 which seems very growthy, we've seen a lot of breakdowns develop just in the new year, in the high growth arena, and that does create some pause and suggest that we really need to see market breadth or participation remain as strong as it has been, or we need to have the microsoft and tesla names, the mega caps of the market, kind of regain their leadership stronghold, which they gave up in november. they've underperformed pretty dramatically. we do think that will get a little bit of a relief rally for the likes of google and micros

, the correlation with the bitcoin and the major markets are getting stronger g joining us is katie stockton katie, it is great to see you. we have a lot to talk about. not just bitcoin let's start there. what are you seeing with the levels if it falls below 24024040,000 that's a concern >> it say pivotal week for bitcoin and the equity front as well the volatility has been real it has been wild you see he it in the volatility index or the vix for bitcoin, this 50% down draft has brought it into what i see as key support this is around 37,400. it is based on something called the cloud model. it is a popular technical model for all currencies, including cryptocurrency this level, in my work, defines the long term up trend that means a couple of weekly closes below we have one last week. that leaves the breakdown pending this friday. that reverses the long-term up fr trend. we have the same momentum. you see that in something called the monthly indication which is another popular tool which has been popular for bitcoin since june of 2020 bitcoin then was below 10,000. it is a significant shift