I'm John Fort. You're listening to CNBC's TechChack. Our show is live weekdays at 11 a.m. Eastern. Listen in.

Well, happy Tuesday. Welcome to Tech Check. I'm John Fort with Theo Jrabosa. Carl has the money off.

Today separating signal proenoid. Strong dollar, weak guidance, how macro headwinds are impacting

tech ahead of Fed Chair Powell's testimony tomorrow.

Plus, what's oversold and what's a falling night?

We will consider where investors might look for opportunity in a bare market as the NASDAQ bounces three and a third percent at this hour.

And speaking of stocks that have come way off their highs, the CEO of Snap,

Evan Spiegel, joins us in just a few minutes live from Ken, what that company is doing

to power through the slowdown and then Bitcoin higher this morning. But in the greater fall,

one firm looking to create a way to capitalize on crypto winter.

Pro shares launching a short Bitcoin ETF.

It's important to figure out what to pay attention to here.

We've been warned by many, the likes of Dan Niles, about bare market rallies.

As Mike Santoli was just saying to close that last

hour, it's going to be hard to distinguish what's what, but we're going to try.

Absolutely. And something that a lot of folks are looking at is valuations, of course.

And you look at some of the most beaten down names. They are rebounding hard this morning.

Take a look at AMD and Nvidia, the chip makers, as well as a PayPal and a firm the fintech names that have been beaten down. B of A did this screen that I thought was pretty helpful, looking at how far their valuations have come down on a price to earnings ratio. AmD has gone from 50 times, PE to 17 times, Nvidia from 67 to 27, even companies like a firm where they don't

have any earnings, they've gone from 27 times sales to three times sales.

So that's what a lot of folks are looking at.

This morning, though, John, we've heard a lot of people, maybe mine is Jim Kramer, still pessimistic.

He is finding some optimism.

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