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Stocks under serious selling pressure here, but off the lows after what started as a scary open for investors and joining us now is Mark Newton Fundstrat Global Advisors, managing director and Global Head of Technical Strategy. Mark, you are the perfect pro to have on today, my friend. Uh, let's start big picture. What do you make of this selloff mark? What are the charts telling you?

Thanks Josh. Well, look, a lot of this has been specifically technology related, and I think investors are trying to come to grips with this new era of really cross asset volatility that's affected not only large cap technology within equities, but also interest rates and FX, and we're seeing cryptocurrency declines, and so it's really a new era where a lot of these have been declining at once. I mean, the one thing I would say is that you really haven't seen that big of degree and broader market weakness. It's largely been technology. However, that is, of course, something that affects most of our major indices and ETFs, and it makes the market seem like it's showing a big decline. But there are a lot of healthy parts in the market. We can talk about that in a minute.

Well, Mark, that has been true largely in recent days, but today the selling has broadened out, right? We're seeing it a little more, um, pervasive throughout the markets. Does that tell us anything? Are you sort of taking away anything about how long this could last?

Uh, my thinking is it likely bottoms this week. Tough to say that it has bottomed as of yet, but I, I specifically think that either this week or next week will bring a short-term low to this decline. And I say that specifically for a few reasons. One is that dollar yen, which is one of the, at least one of the reasons why equities turned down so sharply was a huge change in policy. BOJ cut their bond purchases in half and obviously hike rates. So we saw a big surge in the yen. Now we see this, uh, you know, the entire trade is being unwound in the last few days. And so I think that's really interesting. And when you look at the carry trade, where people borrow cheaply in the end to potentially buy large cap technology issues, uh, some of that has been alleviated. Now we're seeing the end rise right to near prior, uh, peaks, or in this case, lows for dollar yen, which is 140.23. So that's going to be pretty significant support in the short run. And so I think that is really, really important. Um, the second is that you're seeing sort of a dislocation finally in excessive volume to the downside. We never really saw that over the last few months. And so volume is a very orderly type decline. Now you're seeing a huge amount of advanced decline to the negative, meaning huge amounts of declining issues versus advancing volume into declining issues. That's giving you your first real whiff that we're getting close to a low at a time when the VIX got up near 60, and a lot of these fear gauges, when you look at just traditional sentiment polls have turned very negative in a very short period of time. So, when I look forward and I see, you know, the Fed now has basically, we're seeing the market pricing in a good likelihood of 125 basis points of cuts by December. That's interesting. Uh, for the first time, the chance of cutting in September has been raised from 26 basis points to over 50. So two 25 basis point cuts or 50 basis point cut, which Powell was dismissive of as of last week. Now is at least built into the market. So the market's gotten fairly valued, huge selloff in technology. Uh, people have gotten scared. Obviously, it's a difficult time of the year in an election season between August and November. But I sense that, you know, this is going to bring opportunity for those that like to buy dips because I don't sense that this fear is really, um, you know, makes a lot of sense based on looking at broad-based nature of what's happening across the globe.