Live for the NASDAQ market site in the heart of New York City's Times Square, this is fast money.

Here's what's on tap tonight. The reversal to the reversal sucks starting the day in the green before tumbling midday, but closing well-off session lows.

As investors seemingly bought the dip, what's behind today's wild gyrations, where we head next, we'll debate that.

Plus, while volatility spike, so does interest in

perpetual futures. The CEO and co-founder of Cal Sheep will be here. Predictions, markets are

surging, but so is criticism of this investment vehicle. Many are calling straight-up gambling.

And later, Apple's Sour Street, where the Chartmaster sees chips heading after the semi-swing,

and now options traders are

prepping for tomorrow's big earnings report from Oracle. I'm Melissa Lee coming to your

live in studio via the NASDAQ on the desk tonight. Karen Feinerman, Dan Nathan, Guy Dami, and Julie

Beal. We start off with the day full of major reversals. The tech stocks surging at the open,

but the comeback had a really brief shelf life, both the

NASAC and the SMH turning sharply lower by midday.

But buyers came back late in the day, helping tech close well off session lows.

Also a wild day for the other major averages, the Dow and S&P also failing to hold on to early

gains.

The Dow actually closing in the green.

The tumult today extending beyond stocks, gold and silver,

with their lowest closes of the year. Gold now actually down for 2026. So what does this volatility

tell us about where we go from here, Guy? Seventy 200 was the level we mentioned last week.

We said it closed below 7200 in the month of June. We have an outside reversal month

for the first time we've seen that in quite some time. It was protected today. It makes sense.

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