let's bring in matt maley, from miller tabak and kelly jones with the schwab center for research. welcome, guests. matt, let me start with you. how do you distinguish between what is, as some are describing this, a constructive sell-off, a welcome pullback? you know thead ctives. and one that is less constructive and less welcome? f at are the telltales? >> onee most important things we look at is, if you see a deterioration in the underlying, not just in the economy, but the underlying of the keys, and o things is watching credit spreads, especially high-yield credit reads. now, they have widened out a little bit recently, but only slightly and they've g very, very tight. so, this is not the big kind of tdening out that would signal that we're going see a big decline like we saw in 2008 or in 2000 in the stock market. and i think as m aeuded to earlier in the day, is that we don't really get -- you markets very rarely crash from the top. they usually have a sell-off a a retest and internals are poor with poor advanced deines, lousy volume when you get that retest. that signals tha

see what i did there joining us now, matt maley, managi managing equity strategist there have been aw the crude setup looks to you and whether or not we could see support for prices or if this breakdown short-term lasts. >> we look at this one thing we have to remember, crude oil rallied 48% in just seven months so it was getting overbought anyway on a near-term basis. the fact that it pulled back a little bit doesn't surprise me we did see some inventory data that takes it below $60. this week's eia number kind of calmed things down we look at production. yes, we have seen a pickup in the u.s. look at opec they have held the line. a lot of people didn't think they would they have held the line for very many months. how much can they increase production they have really underspent on the investment on infrastructure and production and equipment they haven't spent much at all i don't think that they can ramp up even if they wanted to the way some people think they could. we have another deal coming up with the saudis. they don't have as big of an influence as they used to have but the

let's welcome in the trading nation team, gina sanchez, matt maley with miller taback any snap in thess kylie jenner is the new e.f. hutton. when she talks, people listen, right? it's tough to look at the chart on a short term. look at the $17 level. that was oil resistance. oil resistance becomes new support. it's getting right near that level. so, you know, and the other thing to think of, it used to have a lot of short interest a lot got covered when it rallied 47% when it ordered its earnings keep an eye on the $17 level if it breaks below that, it will be a problem. >> if kylie jenner is slamming it, should our investors buy it or ditch it? >> look, there's a bull case and bear case. you know i've been skeptical of snap because i think it's very difficult for them to monetize obviously, what kylie jenner was reacting to was the redesign of the app, which makes it easier, or at least makes it possible for snap to try to monetize the business and, of course, the group that uses it, which is the 18 to 24-year-olds, they'll hate that. they have the attention span of a gnat i think it