SNAP in FREEFALL... and that's not all

Rough day shaping up for tech stocks ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ This is one of those good news/bad news situations. Let's be blunt. Some major indicators and leading financial figures are all projecting trouble for the American economy. (See Jeff Bezos saying yesterday that it is time to batten down the hatches). At the same time, the dollar is going from strength to strength. This ensures that it can never get too bad for the American economy. It can never be an existential danger. Look, you're probably seeing a lot of "free reports" and clickbait articles about the coming reign of gold, or bitcoin or some other "objective" store of value that is going to displace the dollar. When that happens, prophets intone, the United States of America may be split to the core. And they're right! Except we've been hearing these kinds of pronouncements for decades. There's no more reason to think that this will happen tomorrow than it was going to happen in the days when Ross Perot was doing television programs on the federal deficit. The truth is that the dollar is stronger than ever, not weaker. And the United States really can print its way out of trouble in the short-term. The dollar is likely to continue gaining value as the Fed keeps hiking interest rates - and there's every indication that it's going to keep doing that. Still, that doesn't mean that American companies have it easy. It's worth asking whether there's even such a thing as a truly "American" company anymore. Most are heavily reliant on sales overseas and a strong dollar can be positively ruinous. This is going to have a big impact on Apple (AAPL), and with that, it's going to have a major impact on the entire tech sector. American policymakers are facing several insoluble problems at once. One of the largest is how to bring down the dollar... without bringing down the entire financial system. Whatever happens, we'll show you how to spot the gains in the chaos. Keep Moving, WORD ON THE STREET Truss Out, Home Sales Down, LEI Says Things Getting Worse - Home Sales Hit 10 Year Low - With the average rate on a 30-year mortgage now hitting 7%, sales of previously owned homes have hit almost a 10-year low. That said, don't assume it's a buyers' market - low inventory ensures that high housing prices mean ownership is out of reach for many. - Shortest PM Reign In History - Liz Truss is out as Prime Minister following a full-fledged revolt by the Conservative Party against her financial program. The British government is now in chaos, as the Tories desperately need to avoid a General Election but don't have a leader they can turn to. Maybe King Charles III should just follow tradition and dissolve Parliament. SOON - Another Index Warns Of Worsening Conditions - The Conference Board's Leading Economic Indicators index found that conditions have declined by 0.4% from the previous month. The Index, which measures 10 data points including jobless claims, building permits, credit spreads, and other bits of information, will be sure to be seized upon by those who think the Fed is pushing the economy into a recession. - Amy Coney Barrett Turns Away Debt Relief Challenge - Conservative grassroots groups suffered a defeat when Justice Amy Coney Barrett denied an "emergency application" that would have paused the Biden Administration's student debt relief program. More than 8 million people have already submitted applications for student loan relief.  "3-Pillar" strategy spots a 108% surge in just 4 days... RapidFire is on fire — with new trades are on the verge of exploding soon! [Click here to learn more](. HOT SPOTS: What's Going on in Geopolitics - USA Says Iranians On The Ground Helping The Russians In Crimea - The United States essentially declared the Islamic Republic of Iran as an active party in the war in Ukraine. "The information we have is that the Iranians have put trainers and tech support in Crimea, but it's the Russians who are doing the piloting," said National Security Council spokesman John Kirby. Iranian-made drones have helped the Russians stave off Ukrainian advances in recent weeks as Vladimir Putin's forces try to hold out until winter and reinforcements.  - Musk Tweets At Medvedev – Former Russian president Dmitry Medvedev has gone from one of the West's leading hopes for liberalization to one of the most stern hawks in Russia. Medvedev taunted outgoing PM Liz Truss by sarcastically offering "congrats to lettuce," a reference to an online meme that Truss's tenure was not expected to outlast the life of a head of lettuce. Elon Musk, of course, jumped in and admitted it was a "pretty good troll tbh," but sarcastically asked, "Btw, how's it going in Bakhmut?" Russian infantry have yet to seize the critical Donetsk stronghold despite weeks of effort.  - Russian Jet Fires Missile While Shadowing RAF Plane - A Russian Su-27 fighter confronting an unarmed British RC-135W Rivet Joint surveillance plane fired a missile while "interacting" with its rival. Moscow blamed a technical issue. No one was hurt, but British patrols are now being backed by fighter aircraft.  CUTTING EDGE: What[']( Happening In Tech - SpaceX Scores Another Success, More Starlink Satellites Deployed - SpaceX conducted its 100th launch from Space Launch Complex 40 in Florida. The payload was 54 Starlink satellites. Musk hailed the "48th successful Falcon 9 mission of 2022" on Twitter. - SNAP In Freefall – Despite beating estimates on earnings per share, Snap (SNAP) missed on revenue and traders are NOT happy. The stock was down more than 27% in after-hours trading. What may really be spooking investors is that the company is not giving guidance for the fourth quarter. Does it have something to hide? - Chess.com Faces $100 Million Lawsuit - Chess is undergoing a renaissance and online play is a major reason why. However, Hans Niemann threatens to blow the whole thing wide open with a $100 million lawsuit against superstar Magnus Carlsen, streamer Hikaru Nakamura, and Chess.com. Niemann says he's been defamed after claims that he cheated in competitive games.  The lawsuit claims Niemann suffered "devastating damages" brought about by the defendants' "unlawfully colluding" FOR YOUR CONSIDERATION "We have a theme in today’s edition of Before the Bell…" "I’ve talked a ton about the past year’s market obliteration and the geopolitical factors that affect us all, but it’s about time we start looking at potential trades for the upside for when things eventually turn around." "And one that I’ve monitored on and off could be rounding the corner soon…" Enough doomerism. Where can we move in if there's a sign things will turn around? And how will we know when things are turning around? Check out how to use this "purple chart" and Chris Hood's [Alpha Waves]( tool to open the way to a possible trade. 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