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Good Monday morning. Welcome to Tech Check. I'm Carl Kintanilla with John Ford and Deerbosa.

Today, big rally to kick off Q4's first week of tech earnings is now the time to get bullish.

Finally, we're going to talk about it.

What's developers, developers, developers, developers,

developers, Clippers chairman, Steve Ballmer out with a new bet on a direct-to-consumer. We're going to

talk to the man himself in just a moment. And finally, cloud flare surging while Fox slumps. Today's

tech movers, all our, Dee. Yeah, NASDAQ, of course, seeing a big rebound this morning as volatility continues. Growth names. Kathy Woods are jumping some 6%. There's only a few names in the red on the NASDAQ 100 at the moment. So Mike Santoli, are there legs to the rally here? That is the key question. So far, not a ton of enthusiasm for the previous ones. What about today's?

Yeah, Dee. Well, we've obviously been conditioned to have a little bit of skepticism about any of

these quick rallies. Although the market making the case that last Thursday's reversal from those

morning lows and with the dramatic kind of gain into the close maybe had some significance,

there's some longer term sort of trend

average price levels that people have been watching that actually are right in the vicinity

of where the market is right now. I'm going to just draw roughly where it is. That's a thousand-day

moving average. It's kind of 200 weeks. It's almost four years. We didn't even undercut it in the NASDAQ 100 at the lows back in March of 2020, but you do kind of hover here. Also, you're kind of in this zone right there. 10,000. It's the initial burst off the lows from the COVID crash. That's kind of where we're hanging out right now. And it mimics in an amplified way, as I always say, what the broader market

is up to. Now, more tactically, there's perhaps a little bit of hope in there. If you look at the

way that dealers are positioned in NASDAQ 100 futures. Now, dealers are considered a little more

of a smart money indicator because they're essentially taking the other side of the crowd and the big speculative

funds when they kind of position in futures. And you see here, this is from Renaissance macro.

That's about the 90th percentile of how long they are, NASDAQ 100 futures. Now, it's not always

an automatic thing that the market is bottomed in those areas, but it tends to coincide

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