Reliq Health Technologies Inc. (RHT:TSXV) (OTCPK:RQHTF) Q3 2023 Earnings Call May 31, 2023 12:00 PM ET
Company Participants
Lisa Crossley - Chief Executive Officer
Lisa Crossley
Thank you for joining us. Today is May 31, 2023. Its 12 noon Eastern Time and 9:00 a.m. Pacific Time. This is Reliq Health Technologies’ Corporate Update. I am Lisa Crossley, the CEO. And, this will be an overview of our Q3 financials as well as outlook forward.
Please review the forward-looking statements disclaimer at your leisure and interpret any remarks from today's presentation in that context. For today's webinar, I'm going to provide a brief overview of the Q3 fiscal year 2023 financials, for the period ending March 31, 2023. I'll provide an outlook for the remainder of the calendar year, and then go through some very quick shareholder FAQs and the upcoming webinar dates subsequent to this one.
Overall, what I except to cover during this webinar is fairly brief. As you all know, we made some substantive changes to our business model beginning in January of this year, and the quarter that we're reporting on here, which was two months ago, it ended was really the quarter where we first started to implement those changes. So, not a lot of the progress that we made is reflected in these financials, but will certainly be reflected in future financials.
Let's jump into the Q3 results. So, the highlights for the quarter ending March 31, were an increase in revenue of over 88% to roughly $4.7 million. We also increased our revenue from the higher margin software and services sales by 69% to about $1.8 million. You will definitely see much more significant increases in software sales going forward. This quarter, we were a little bit hampered by the hardware orders that we'll talk about a little more in a little more detail in subsequent slides, but because we had some large hardware orders that were deferred, the software revenues associated with those hardware orders, were also deferred.
As I've disclosed before. And, but you will certainly begin to see much more significant growth on the software side over the rest of this year and beyond. This was our first profitable quarter, and I think that definitely does reflect some of the changes that we've made to the business model. We had a net gain of $731,000 and our adjusted EBITDA has improved by over 2000% relative to the same period last year, and that's primarily just adjusting for non-cash expenses. They're very small, non-recurring expenses in that adjustment.
During the last three months, we certainly made some significant progress on the business development front. We continue to expand the skilled nursing facility space, adding over a 120 new skilled nursing facilities over the last five months, actually, the quarter ending March 31 and subsequent. And we also signed new contracts with some very significant large healthcare organizations, one of which was a large U.S. Healthcare System that operates over 1,200 care centers across seven U.S. states, including the skilled nursing facilities, hospitals, home health agencies, hospice agencies, and primary care clinics. And they have over 10 million patient encounters a year across their network, and they and the other large clients we've signed, do very extensive due diligence before they select a company to be their partner for remote patient monitoring, behavioral health integration, chronic care management, transitional care management, etcetera.
So, it is really a testament to our unique value proposition in this space and to the future potential for this Company. We’ve also signed a new contract with a large U.S. Health Plan that operates accountable care organizations in five U.S. states with over 3,000 doctors and more than a million patients, and this client, in particular, it's our first health plan, but they are also subsidiary of one of the nation's largest providers of hospital and healthcare services, who is also a Fortune 500 company.
So, we really are getting into some of the blue chip clients. And I think it's important to remember that with these very large clients, they like to start out with a phase deployment, I’ve talked about that a lot over the years, and that's very typical in healthcare for healthcare software deployments that they will start small rollout to a specific geography or a specific type of facility or even to a subset of patients from a given facility, and then expand from there.
So, the initial deployments that we've announced with these large clients are relatively small compared to their patient population overall, but they are the first step in phase deployments. So as we have more details, more established implementation plans with these larger clients, we’ll be able to provide updates, but certainly our expectation is that we will see significant growth from these new clients beyond the initial phase. So, what we've announced today is really effectively the tip of the iceberg.
The outlook for the remainder of the year and beyond, as you all know, historically, the Company has been very focused on new business development and capturing market share that real estate grab that we talk about. But as of the beginning of this year, we really expanded our focus to include real significant efforts towards improving profitability and cash flows. I think you can see the improvement in profitability very clearly in these financials.
The cash flows are going to come as collections pickup and certainly so are the topline revenues associated with improved adherence, but I'll discuss that a little bit further in subsequent slides.
As we've disclosed on previous webinars, the Company has $15 million in contracted hardware sales. So we've received orders from clients for $15 million worth of hardware, and we've started shipping the hardware, which is the point at which we can recognize revenue, but the majority of the orders are expected to be fulfilled by the end of the fiscal year. So we'd started shipping in the quarter ending March 31, but the bulk of that revenue will land in the current quarter, which ends June 30.
As you know, hardware sold on 12 month to 24 month payment plans, so we've had some of the initial scheduled payments for the hardware that's already been shipped come in, but we'll see those payments ramp up significantly in the second half of the calendar year, once we've been able to ship all of that hardware in the current fiscal year. And then all of those hardware orders will translate to subsequent software revenue. So, it is a very meaningful order for the Company not just in terms of the hardware revenue, but in terms of the software and services revenue that will follow behind.
Since January 1, Company has been very focused on improving patient adherence by taking over adherence management from clients. And I want to address this particular topic in some detail, because I think there's an expectation in some quarters that when we say we're taking over managing adherence, that we flip a switch and that happens overnight. And that's certainly not the case. We made some good progress in Q1 getting percentage of our patient’s population or client population moved over to Reliq handling the adherence management. But even once we get those patients, it does take a month or two, but most three for us to get those patients on-boarded and, well they're already on-boarded, but comfortable with us managing the adherence and actually start to improve.
So, we do see dramatic improvements in adherence in these patients, once we've taken over managing that piece from their clinicians, but it's not an instantaneous or overnight change. So you aren't going to see much of an impact on topline revenues in the quarter ending March 31, that our results of improving the adherence. You will start to see the impact of the improvements in adherence management in the quarter ending June 30, but where you'll really start to see the significant increases, and the impact on revenues will be in the second half of the year.
So, certainly, it'll be a much more significant impact. It'll have much more significant impact on the quarter that will report or that is ending June 30, but it will continue to improve beyond that. So, the average adherence is expected to exceed 70% by the end of the calendar year.
Adherence levels interestingly appear to be consistently higher with the patients from the larger healthcare organizations than from the individual physician practices. So historically, we have had a customer base that was primarily individual physician practices and home health agencies beginning late last year 2022, we started to acquire more and more of these larger healthcare clients, skilled nursing facilities, accountable care organizations, and other health plans, etcetera. And we find with those groups that they have resources, for example, with the skilled nursing facility, where they will have these patients trained in using the system before they even are discharged, which really helps with adherence levels, but also their performance metrics are so well aligned with what we do as a business that we see more, I'll call it motivation from the larger clients to really work with patients and to commit whatever is necessary in order to ensure that their patient population is adherent.
It's a little bit different from the way that the individual physician practices in the home health agencies approach, RPM and CCM. So, that's to our benefit because going forward, we expect that the majority of our clients will be these larger health care organizations, certainly the majority of patients that we have on our platform will come from the large clients. So, that's going to make it easier for us to improve adherence levels even beyond the 70% level as we move into 2024 and beyond.
Collections, again, I want to emphasize it's something that we put a lot of effort into and that is improving dramatically, but we really didn't start to see the impact of our efforts, the account manager's efforts, until March. So, there's not a lot of collections that are reflected in the financials ending March 31, but you will certainly see a significant impact of our efforts in accelerating collections in the quarter ending June 30. And by the time we get to the end of June, we should have all of our clients caught up on all of their receivable, all of our receivables, their payables. And then going forward, we will be able to keep all of our clients on a regular payment schedule so that they, we don't have that same issue where we have these aging receivables.
Remind everyone that there will always be a portion of our receivables that will relate to hardware that's on 12 month to 24 month payment plans. So, there will always be a fairly large receivable number on our books, but there will be essentially no stale receivables, and/or these very aging receivables that we see around the software and services revenue where clients have needed a little bit of nagging in order pay. And because we are going to be receiving or collecting or have started to collect all of the receivables that are expected by the end of June. We will be in a much better cash position going forward, for the second half of the year and beyond.
Just some very brief shareholder FAQs, we have been getting a lot of questions about Accountable Care Organizations, with ACOs. These are groups of physicians and sometimes other healthcare providers, who aren't necessarily located in the same facility or even in the same city, but they've effectively banded together on a back office basis, to form Centers for Medicare & Medicaid Services approved entity that is compensated based on value.
Now for CMS, value means patients have better health outcomes, and therefore lower health care costs. So, CMS financially incents the ACOs to reduce health care costs by using a shared savings model. So, the ACO members will receive a portion of the cost savings that they achieve for patients. And the best way to reduce costs for these patients is by reducing hospitalizations. That's really where the bulk of the costs for the chronic disease patients come from, these exacerbations that translate to a hospital stay.
Our platform, iUGO Care platform has been proven to reduce hospitalizations and the associated health care costs by over 80%. So, our solutions are perfectly aligned with the ACO's performance metrics, as they are also very well aligned with skilled nursing facilities and many of these other large healthcare organizations.
So, we expect that we will start to see increasing traction with the ACOs now that we've landed our first really very large and multistate ACO. This is not raised. This next point has a question, but it is something that we are asked consistently. So I just want to repeat that we don't expect to need to raise capital or take on debt to fund operations. And we expect to initiate a share buyback program later this year. So, soon as we have sufficient free cash flow, we will pull the trigger on that, because obviously we want to initiate the share buyback at a compelling price point for the Company.
Upcoming webinar, so as I've said repeatedly, I think there will be a lot more meaningful data that will demonstrate the improvements in adherence and collections, but when we close out the quarter that ends June 30, now obviously that's our fiscal yearend. So, we will be issuing the Annual Audited Financials or filing them in October of this year, but we will hold an interim webinar on well, in the middle of July, the exact date will be determined in June, and we'll announce that date in probably early July.
And at that point, I think we'll be able to get a lot more granular with our reporting and sharing the various metrics with all of you, so that it's easier to build your models. I know it's been a bit frustrating, but the Company has been very focused on making the necessary changes, so that the business model going forward really supports and not just the really strong revenue growth, but profitability and strong cash flows.
So, we've needed do that work, and I think we'll be at a point where we have all of the clients moved over to us managing adherence and that will allow us, I think, going forward to provide more details in our reporting [interim] (ph), probably help some of you construct the models that you, I know, like to work on.
And so as I say, we are filing the Annual Audited Financials in October, we'll do this interim progress update webinar in July, but we'll also do a second update webinar in early September, and again exact date is to be determined, but that will provide another touch point between now and when we do file the Annual Audited Financials, so that we can share the meaningful progress that we'll be able to show from here going forward and without having to wait months, and months, and months to file that those Annual Audited Statements.
Thank you very much for joining us. We greatly appreciate your time. The webinar will be available on our website later today, as soon as we are able to get it up which is sometimes in our control and sometimes not depending on the webinar provider, but we will get that up as soon as we can.
So, again, thank you very much for joining us.
Link to the webinar: https://www.reliqhealth.com/investors/#single/0

In addition to hate, violence, and slavery, there are various other forms of injustices that exist in the world. Here are some examples:

1. Discrimination: Discrimination occurs when individuals or groups are treated unfairly or unequally based on certain characteristics such as race, ethnicity, gender, religion, sexual orientation, or disability. Discrimination can manifest in various contexts, including employment, housing, education, and social interactions.
   
2. Poverty and Economic Inequality: Poverty refers to a state of extreme deprivation, where individuals or communities lack access to necessities and opportunities for a decent standard of living. Economic inequality refers to the unequal distribution of wealth, resources, and opportunities within a society, which can perpetuate systemic injustices.
   
3. Gender Inequality: Gender inequality refers to the unequal treatment and opportunities based on an individual's gender. It includes issues such as unequal pay for equal work, limited access to education, healthcare, and decision-making power, as well as gender-based violence and discrimination.
   
4. Environmental Injustice: Environmental injustices occur when marginalized communities disproportionately bear the burden of environmental degradation, pollution, and lack of access to clean air, water, and a healthy environment. This often affects disadvantaged communities, leading to health disparities and further inequalities.
   
5. Human Rights Violations: Human rights violations encompass a wide range of injustices, including torture, arbitrary detention, censorship, lack of freedom of expression, forced displacement, and persecution based on beliefs, political affiliations, or other characteristics.
   
6. Child Labor and Exploitation: Child labor involves the exploitation of children for work, depriving them of education, health, and a normal childhood. It includes hazardous and exploitative forms of work that can be physically, mentally, or emotionally harmful to children.
   
7. Indigenous Rights Violations: Indigenous communities around the world often face injustices related to land rights, cultural preservation, discrimination, and loss of traditional practices and knowledge.
   
8. These are just a few examples, and there are many other forms of injustices that exist in different societies and contexts. Addressing these injustices requires collective efforts, awareness, advocacy, and systemic change to build a more just and equitable world for all.
   
9. Systemic Racism: Systemic racism refers to the deeply ingrained practices, policies, and structures within a society that result in differential treatment and opportunities based on race or ethnicity. It manifests in various forms, including racial profiling, unequal access to education, employment discrimination, and disparities in the criminal justice system.
   
10. Ableism: Ableism refers to discrimination and prejudice against individuals with disabilities. It involves the marginalization, stigmatization, and exclusion of people with disabilities, as well as the failure to provide necessary accommodations and accessibility.
    
11. Ageism: Ageism is discrimination or prejudice based on a person's age, particularly against older adults or younger individuals. It can lead to unequal treatment, limited opportunities, and stereotypes based on age.
    
12. Refugee and Migrant Rights Violations: Injustices can occur when refugees and migrants are subjected to human rights abuses, including forced displacement, inadequate access to asylum, family separation, detention in inhumane conditions, and exploitation.
    
13. LGBTQ+ Discrimination: Discrimination against individuals based on their sexual orientation, gender identity, or gender expression is a form of injustice. LGBTQ+ people may face legal, social, and economic discrimination, as well as harassment and violence.
    
14. Indigenous Land Dispossession: Indigenous communities often experience land dispossession, encroachment on their territories, and violations of their rights to self-determination, cultural preservation, and sovereignty.
    
15. Access to Healthcare: Inequalities in access to quality healthcare and disparities in healthcare outcomes based on factors such as socio-economic status, race, or geographical location can lead to injustice and health inequities.
    
16. Political Repression: Political repression refers to the suppression of dissent, restriction of civil liberties, and denial of political rights, including freedom of speech, assembly, and association.
    
17. Food Insecurity: Food insecurity exists when individuals or communities lack consistent access to sufficient, safe, and nutritious food. It often stems from poverty, unequal distribution of resources, and systemic barriers.
    
18. Educational Disparities: Educational injustices can include unequal access to quality education, resource disparities among schools, inadequate support for marginalized students, and educational policies that perpetuate inequities.
    
19. Gender-based Violence: Gender-based violence refers to any form of violence that is predominantly inflicted on individuals based on their gender, such as domestic violence, sexual assault, harassment, and human trafficking.
    
20. Denial of Reproductive Rights: Injustices can occur when individuals are denied access to reproductive health services, family planning options, contraception, safe abortions, and comprehensive sexual education.
    
21. Cultural Appropriation: Cultural appropriation refers to the adoption or borrowing of elements from another culture without understanding, respect, or permission, often resulting in the erasure, commodification, or misrepresentation of marginalized cultures.
    
22. Wage Inequality: Wage inequality is the disparity in earnings between different groups, often based on gender, race, ethnicity, or other factors. It highlights the unequal distribution of pay for similar work and can contribute to economic disparities.
    
23. Environmental Exploitation: Environmental injustices arise when vulnerable communities bear the brunt of environmental harm caused by industrial pollution, resource extraction, deforestation, or climate change, while not having an equal say in decision-making processes.
    
24. Discrimination based on Religion or Belief: Discrimination based on religion or belief involves unfair treatment, prejudice, or hostility directed at individuals or groups because of their religious or non-religious affiliations.
    
25. Xenophobia and Anti-Immigrant Sentiment: Xenophobia refers to the fear, hostility, or discrimination towards foreigners or immigrants. It can manifest in various ways, including hate crimes, prejudice, and discriminatory policies.
    
26. Access to Clean Water and Sanitation: Injustices exist when individuals or communities lack access to clean and safe drinking water, adequate sanitation facilities, and hygiene services, leading to health disparities and increased vulnerability.
    
27. Digital Divide: The digital divide refers to the gap between those who have access to information and communication technologies (ICTs) and those who do not. It can exacerbate existing social and economic inequalities, limiting opportunities for education, employment, and civic participation.
    
28. Prison Overpopulation and Mass Incarceration: Injustices arise from the overuse of incarceration, particularly when it disproportionately affects marginalized communities, perpetuates cycles of poverty and violence, and lacks sufficient focus on rehabilitation and restorative justice.
    
29. Police Brutality: Police brutality refers to the excessive use of force, harassment, abuse, or violence by law enforcement officials. It often disproportionately affects marginalized communities and can lead to severe physical and psychological harm.
    
30. Forced Labor: Forced labor, also known as modern-day slavery, involves individuals being coerced or deceived into working under exploitative conditions, often without fair wages, adequate protections, or the ability to leave.
    
31. Cultural Genocide: Cultural genocide occurs when deliberate actions are taken to destroy or erase the cultural heritage, language, traditions, and identity of a particular group, often resulting in long-lasting harm and loss.
    
32. Caste Discrimination: Caste discrimination is a form of social stratification where individuals are treated unequally based on their caste or social class. It primarily exists in certain societies and can result in marginalization, social exclusion, and limited opportunities.
    
33. Access to Education: Injustices in education can include limited access to quality education, disparities in educational resources and opportunities, and barriers faced by marginalized groups, which can perpetuate socio-economic inequalities.
    
34. Forced Displacement: Forced displacement refers to the coerced or involuntary displacement of individuals or communities from their homes due to conflict, persecution, development projects, or environmental factors, leading to the loss of livelihoods and displacement-related vulnerabilities.
    
35. Income Disparities: Income disparities occur when there are significant gaps in earnings and wealth between different individuals or groups within a society, often leading to economic inequalities and limited social mobility.
    
36. Religious Persecution: Religious persecution involves the mistreatment, discrimination, or oppression of individuals or communities based on their religious beliefs or affiliations, often resulting in restrictions on religious practices, violence, or forced conversions.
    
37. Access to Justice: Injustices can arise when certain individuals or marginalized groups face barriers in accessing a fair and impartial justice system, including limited legal representation, discrimination, and bias within the legal system.
    
38. Denial of Indigenous Rights: Injustices occur when the rights of indigenous peoples, including their land rights, self-determination, cultural practices, and sovereignty, are denied, or violated.
    
39. Discrimination based on Socioeconomic Status: Discrimination based on socioeconomic status occurs when individuals or communities face unfair treatment or opportunities due to their economic position. It can result in limited access to education, employment, healthcare, and other essential resources.
    
40. Forced Marriage: Forced marriage involves individuals being coerced or pressured into entering a marriage without their free and informed consent. It often affects women and girls, infringing upon their rights to autonomy, education, and personal choice.
    
41. Denial of LGBTQ+ Rights: LGBTQ+ individuals face injustices when their rights to equal treatment, non-discrimination, and legal recognition of their relationships and identities are denied or restricted. This includes issues such as legal recognition, same-sex marriage, adoption rights, and protection from discrimination and violence.
    
42. Exploitation of Workers: Exploitation of workers occurs when individuals are subjected to unfair working conditions, including long hours, low wages, lack of benefits, unsafe environments, and violations of labor rights.
    
43. Discrimination based on Nationality or Immigration Status: Discrimination based on nationality or immigration status involves treating individuals differently based on their country of origin or immigration status. It can lead to exclusion, marginalization, and violations of human rights for immigrants and non-citizens.
    
44. Access to Affordable Housing: Injustices arise when individuals or communities face challenges in accessing safe, affordable, and adequate housing. This can result in homelessness, inadequate living conditions, and displacement.
    
45. Lack of Access to Healthcare: Injustices occur when individuals or communities face barriers in accessing quality healthcare services, including inadequate healthcare facilities, unaffordable costs, limited health insurance coverage, and healthcare disparities based on race, ethnicity, or other factors.
    
46. Digital Rights and Privacy Violations: Injustices related to digital rights include violations of privacy, censorship, surveillance, and restrictions on internet access and freedom of expression. These can infringe upon individuals' rights to privacy and freedom of speech.
    
47. Animal Cruelty: Animal cruelty involves the mistreatment, exploitation, or abuse of animals, causing them unnecessary harm or suffering. This includes issues such as animal testing, factory farming, and illegal wildlife trade.
    
48. Corruption and Bribery: Injustices arise when corruption and bribery prevail, leading to the diversion of resources meant for public welfare, unequal distribution of wealth, and erosion of trust in public institutions.
    
49. Access to Clean Energy: Injustices occur when marginalized communities lack access to clean and sustainable energy sources, leading to energy poverty and reliance on polluting and harmful energy alternatives.
    
50. Denial of Indigenous Land Rights: Injustices arise when the land rights of indigenous communities are disregarded or violated, leading to displacement, loss of cultural heritage, and environmental degradation.
    
51. Animal Testing in Cosmetics and Research: Injustices occur when animals are subjected to unnecessary and inhumane testing for cosmetic or scientific purposes, causing them pain, suffering, and loss of life.
    
52. Food Waste and Food Insecurity: Injustices arise from the paradox of food waste and food insecurity. While significant amounts of food are wasted globally, many individuals and communities suffer from hunger and lack of access to nutritious food.
    
53. Discrimination based on Body Image: Discrimination based on body image involves judgment, stigma, and unequal treatment of individuals based on their physical appearance, leading to self-esteem issues, eating disorders, and mental health challenges.
    
54. Exploitation of Natural Resources: Injustices occur when natural resources, such as minerals and forests, are exploited without consideration for environmental sustainability, the rights of local communities, or fair distribution of benefits.
    
55. Ableist Infrastructure and Design: Ableist injustices exist when the built environment, transportation systems, and public spaces are inaccessible to individuals with disabilities, hindering their mobility and full participation in society.
    
56. Gender-based Pay Gap: The gender-based pay gap refers to the difference in earnings between men and women performing the same or similar work. It reflects systemic gender inequalities and contributes to economic disparities.
    
57. Discrimination based on Language or Accent: Discrimination based on language or accent occurs when individuals are treated unfairly or face barriers in education, employment, or social interactions due to their language proficiency or accent.
    
58. Disproportionate Incarceration Rates: Injustices arise when certain racial, ethnic, or socio-economic groups are disproportionately represented in the criminal justice system, often due to biased policies, systemic discrimination, or unequal access to legal resources.
    
59. Child Exploitation and Child Labor: Injustices occur when children are subjected to exploitative work conditions, hazardous labor, human trafficking, or other forms of abuse and neglect, depriving them of their rights and childhood.
    
60. Lack of Access to Clean Sanitation: Injustices arise when individuals or communities lack access to clean and hygienic sanitation facilities, leading to health risks, water contamination, and the spread of diseases.
    
61. Cultural and Religious Persecution: Injustices occur when individuals or communities face persecution, discrimination, or violence based on their cultural practices, beliefs, or religious affiliations, infringing upon their rights to freedom of expression, belief, and identity.
    
62. Genocide and Ethnic Cleansing: Injustices manifest in acts of genocide or ethnic cleansing, where systematic violence and mass killings are perpetrated against specific ethnic, religious, or racial groups, resulting in immense human suffering and loss.
    
63. Impunity and Lack of Accountability: Injustices persist when perpetrators of human rights abuses, crimes against humanity, or other egregious acts go unpunished or face insufficient legal consequences, denying justice to victims and perpetuating cycles of violence.
    
64. Disproportionate Access to Natural Resources: Injustices occur when certain communities or countries are denied fair access to and control over natural resources, leading to economic exploitation, environmental degradation, and social inequalities.
    
65. Inadequate Mental Health Support: Injustices arise when individuals face barriers in accessing mental health services, including limited availability, stigma, and discrimination, resulting in inadequate support for those in need.
    
66. Cyberbullying and Online Harassment: Injustices manifest in the form of cyberbullying and online harassment, where individuals are subjected to abusive behavior, threats, or targeted attacks in digital spaces, impacting their well-being and safety.
    
67. Erasure of Indigenous Knowledge and Cultural Heritage: Injustices occur when indigenous knowledge, cultural traditions, languages, and heritage are marginalized, disregarded, or appropriated, leading to the loss of cultural diversity and the undermining of indigenous rights.
    
68. Inequitable Access to Quality Education: Injustices arise when individuals or marginalized communities face disparities in access to quality education, including limited resources, inadequate infrastructure, and unequal opportunities, perpetuating cycles of poverty and social exclusion.
    
69. Displacement and Land Grabs: Injustices occur when communities are forcibly displaced from their lands, often for large-scale development projects, without adequate compensation or consultation, resulting in loss of livelihoods, cultural disruption, and social dislocation.
    
70. Environmental Racism: Environmental racism refers to the disproportionate exposure of marginalized communities, particularly racial and ethnic minorities, to environmental hazards, pollution, and toxic waste sites, leading to adverse health effects and unequal distribution of environmental benefits and burdens.
    
71. Denial of Reproductive Rights: Injustices occur when individuals are denied their reproductive rights, including access to contraception, safe and legal abortion, comprehensive sexual education, and reproductive healthcare services, limiting their autonomy and well-being.
    
72. Income Inequality: Income inequality refers to the unequal distribution of wealth and resources within a society, where a small percentage of individuals hold a significant portion of the wealth while others struggle to meet their basic needs, perpetuating social and economic disparities.
    
73. Discrimination against Persons with Disabilities: Discrimination against persons with disabilities involves treating individuals with disabilities unfairly or denying them equal opportunities in education, employment, healthcare, and public services, hindering their full participation in society.
    
74. Forced Evictions: Forced evictions occur when individuals or communities are removed from their homes without due process or adequate alternative housing options, often resulting in homelessness, vulnerability, and violation of their housing rights.
    
75. Exploitation of Natural Disasters: Injustices arise when natural disasters are capitalized upon for personal gain or profit, leading to corruption, price gouging, and the marginalization of vulnerable populations in relief and recovery efforts.
    
76. Political and Media Manipulation: Injustices occur when political leaders or media outlets engage in manipulation, misinformation, censorship, or propaganda, restricting freedom of expression, distorting public discourse, and undermining democratic processes.
    
77. Discrimination based on Immigration Status: Discrimination based on immigration status involves treating individuals unfairly or denying them rights and opportunities based on their immigration status, leading to exclusion, exploitation, and violations of human rights.
    
78. Lack of Access to Clean Air: Injustices arise when individuals or communities are exposed to polluted air due to factors such as industrial emissions, traffic pollution, or proximity to toxic sites, leading to adverse health effects and unequal distribution of environmental hazards.
    

Hi, my name is Mikey and I'm from Accidental Cyclops Games. We are hosting a LARP on Friday night at 7pm (https://www.gencon.com/events/230187) based on The Real Thing roleplaying book that we kickstarted in 2022 (https://www.accidentalcyclops.com/therealthingrpg/). It will be using the Discovery system developed for the tabletop game, but isn't the self-contained story that was in the book.
We've run GenCon LARPS in the past (one for Curse the Darkness, one for a custom system we built just for GenCon called Dreamlands) and amongst the narrators/storytelling staff, we have a lot of LARP experience running games. We're really excited for the 1-shot story we are building for the GenCon LARP and would love to sell-out the event.
If you're interested, I would encourage you to buy a ticket, or if you have questions, let me know and I'd be happy to give as much spoiler-free detail as I can. Thanks!

Hello. Since building this PC in June 2022, I've been trying to diagnose a strange issue with the integrated GPU either producing a black screen or experiencing display driver timeouts (the famous device manager error 4101). This collection of issues only occurs when the PC cold boots, or on rare occasions when waking from sleep. The PC has no issues when under load or playing games, and has never had a BSOD. I have not found a way to manually reproduce these issues, and they occur as often as twice per day, or as infrequently as once a month, making diagnosis difficult. Note that after December 2022, the PC began showing black screens on POST and failing to exit POST.
Computer Type: Desktop
GPU: Vega 7 integrated GPU in Ryzen 5 5600G
CPU: RYZEN 5 5600G
Motherboard: ASUS ROG Strix B550i Gaming
BIOS Version: 2423 x64
RAM: 16GB CORSAIR VENGEANCE 3600MHZ CL18; SKU: CMK16GX4M2D3600C18 (Note this SKU is not in motherboard QVL)
PSU: CORSAIR SF600 80+ GOLD FULLY MODULAR
Case: SSUPD MESHILICIOUS
Operating System & Version: WINDOWS 10 HOME 22H2; Build 19045.2965
GPU Drivers: AMD drivers 22.5.2, 22.8.2, 22.9.2, 22.10.22 (windows driver store version). Currently 22.20.42 (windows driver store 31.0.12042.4) as automatically installed by windows
Chipset Drivers: Unknown, no entry in Device Manager
Background Applications: None, issue occurs before login
Description of Original Problem: Original issue began a few days after building PC and installing windows. After running MemTest86 (no issues after 4 passes), the system was rebooted. System reboots normally, 1 beep from installed PC buzzer and windows boots to lock screen. On lockscreen, display immediately freezes, usually after the clock and background is shown. The PC will stay frozen until the display driver times out after 10 seconds, the monitor will lose signal as the driver is re-initialized and the display will return, only to freeze again a few seconds later. This continues until either windows disables the driver entirely, relying on the basic display driver, or the system fails to recover and remains frozen. Some variations of this issue result in the display crashing before the background even renders in the lockscreen, and sometimes video signal is restored as a black screen, only to freeze and recover again (monitor shows backlit black screen, then backlight is turned off as the input signal is lost and restored).
After around December 2022, issues began manifesting in different ways, and occurred outside of just the windows lock screen. Sometimes on power on, the system will beep once but display a black screen, never leaving POST. Short pressing the power button shuts off the system allowing for a restart. On other occasions display crashes now occur after system wakes from sleep, with the result being either a frozen system or successful fallback to basic display drivers. Most notably, the system once booted and froze displaying a corrupted BIOS logo, which can be seen here: https://imgur.com/a/uFYVZBF
**Troubleshooting:**Prior to December 2022, I've attempted to:

• Try several different AMD driver versions: from 22.5.2, to 22.8.2 and 22.9.2 (which was automatically set by windows).
• Due to the sporadic nature of this issue, diagnosis was difficult, combined with windows constantly auto updating driver versions, of which several registry changes were unable to fix
• Attempted to run PC at 3200MHz ram speed instead of 3600, since 3200 is the max guaranteed supported speed by AMD for this CPU. Issues continued after this change. However many posters have noted these monolithic CPUs tend to have good IMCs and some can OC to 4000+ MHz. Perhaps I am unlucky?
• Monitor upgrade from HDMI 1080P to DisplayPort 1440P. Issues persisted. Rules out bad monitor+cable combinations.

After December 2022:

• Attempted to try different RAM combinations, with only a dual slot motherboard I've tried switching both RAM sticks, and so far running RAM A in slot A, and RAM B in slot B. Have not tried running individual sticks in slot B only.
• Full windows 10 reinstall with no data carried over. Reinstall was performed using a USB flashed with the Windows 10 Media Creation Tool from another PC. This also fixes any potential issues caused by registry changes in an attempt to stop windows' stubborn auto update of GPU drivers.
• Back in June 2022, I tested the riser cable of this SFF Case using my only available discrete GPU, an AMD HD 6570. This also required installing legacy AMD Catalyst drivers, resulting in a crash when I reverted back to the integrated GPU. AMD cleanup tool resolved the driver conflicts and Adrenaline 22.5.2 was reinstalled. The Windows 10 reinstall from above should further prevent any remaining issues from this experiment from carrying over.

I have not attempted the following:

• Use DDU to clean up drivers. (Probably not related now since issues occur even in BIOS)
• Ran system with individual RAM sticks in slot B. (unsure if this would fix issue, since individual sticks in slot A did not fix)
• Potential chipset driver upgrades? (unsure of how this is done, cannot find current driver versions at all in device manager)
• BIOS upgrades? Unsure of risk, since system is 99.9% working and BIOS updates could brick motherboard)

Options going forward:

• Use PC as is, let system recover if any crashes occur, or hard reset system. Hope no corruption happens to OS if any hard resets are needed.
• Save up for dedicated GPU, hoping issue is GPU related
• Attempt some BIOS and chipset upgrades
• Perform and RMA with AMD (unsure since issue could still be iGPU, motherboard, or RAM related)

A full list of every issue and change can be found here
​

+	A	B	C	D	E	F
1	Date	Type (blue = hardware changes, green=software changes, red = unique or uncommon errors)	Symptoms	User actions (if applicable)	Result	Comments
2	June 22, 2022	Hardware change		First assembly of PC	No issues during assembly, windows installs smoothly
3	June 23, 2022	Hardware change		Added AMD HD-6570 GPU for testing PCIe extender cable	No issues with GPU, extender cable appears to be working	Required install of legacy AMD Catalyst GPU drivers
4	June 23, 2022	Hardware change	PC crashed after removing HD 6570 and reverting to iGPU	Boot in safe mode, use AMD cleanup tool to remove old drivers	PC boots normally after old drivers are removed
5	June 24, 2022	Diagnostic	Ran MemTest86 with default settings		MemTest PASS	Possible cause of memory instability as GPU issue began immediately after reboot?
6	June 24, 2022	System Fault	Display driver crash on login screen after boot	Hard reset	No issues on next boot
7	July 9, 2022	System Fault	Display driver crash on login screen after boot	Hard reset	No issues on next boot
8	August 4, 2022	System Fault	Display driver crash on login screen after boot	Hard reset	No issues on next boot
9	August 11, 2022	System Fault	Display driver crash on login screen after boot	Hard reset	No issues on next boot
10	Sept 5, 2022	Software Change		Driver configured to 22.9.2
11	Sept 6, 2022	Software Change	Windows auto update driver to unknown ver, published August 2021			Did not know about the difference between AMD driver ver. #s and windows driver store #s, which are different. Driver is likely a WHQL driver in the driver store which windows insists on updating to
12	Sept 20, 2022	Software Change		Attempt to stop windows driver updates via registry changes
13	Sept 22, 2022	System Fault	Display driver crash on login screen after boot	Hard reset	No issues on next boot
14	Sept 25, 2022	Software Change	Windows auto update driver to unknown ver, published August 2021			Clearly windows has ignored the registry change...
15	Sept 26, 2022	System Fault	Display driver crash on login screen after boot	Hard reset	No issues on next boot
16	Oct 11, 2022	Software Change		Set driver to 22.5.2 (WHQL) and further changes to the windows registry to stop auto updates		Registry change likely involved blacklisting 4 hardware IDs for Radeon iGPU from the driver update list
17	Oct 15, 2022	System Fault	Display driver crash on login screen after boot	Hard reset	No issues on next boot
18	Oct 18, 2022	Software Change		Set driver to 22.8.2
19	Oct 30, 2022	System Fault	Display driver crash on login screen after boot	Hard reset	No issues on next boot
20	Nov 4, 2022	System Fault	Display driver crash on login screen after boot, unstable recovery	Restart system through windows UI while driver crashes and recover every ~10s	Restart 1: Driver could not be loaded (devmgmt error 22), updating driver resulted in devmgmt error 31, another update resulted in successful install, but driver was unstable, crash and recovery every ~10s. Restart 2: No issues	First instance of system recovery without hard reset; first instance of other symptoms besides display freezing
21	Nov 6, 2022	Hardware change		New monitor, 1440p 165Hz displayPort		Old monitor: 1080p 75Hz HDMI, issues persist after this change ruling out monitor+cable as issue
22	Nov 13, 2022	System Fault	Display driver crash on login screen after boot	Hard reset	No issue on next boot
23	Nov 13, 2022	Software Change		Changed RAM speed from 3600MHz to 3200MHz	Slight performance drop in games due to slower RAM	Original ram ran at XMP, 3200MHz speed set manually, other settings left on AUTO
24	Nov 20, 2022	System Fault	Black screen when powered on	Short press power to turn off	No issue on next boot	System likely has not left POST due to power button behaviour, first instance of system fault in BIOS/POST stage
25	Nov 21, 2022	System Fault	No DP signal when woken from sleep, PC auto restarts. eventmgr lists "windows restarted due to bugcheck (0x0000009f)"		No issue on next boot	Bugcheck 0x0000009f is a general type of error, some sources point to driver irp issues with amdkmdag.sys
26	Nov 22, 2022	System Fault	No DP signal when woken from 2nd sleep, after 2 display driver recoveries system remains frozen on black screen	Hard reset	No issue on next boot
27	Dec 19, 2022	System Fault	Display driver crash on login screen after boot	Attempted to shutdown system "blind" using narrator while driver crashed and recovered 5 times, after 5th recovery driver is disabled by windows	User logged in to windows and performed a restart to reenable AMD drivers. No issue on next boot	Windows successfully stopped crashing driver and fallback to basic display driver
28	Dec 23, 2022	System Fault	Black screen when powered on	Short press power button to reboot, resulted in frozen bios screen with corrupted ROG brand logo	Short press power button again to reboot. No issue on next boot	First sign of hardware related failure if system cannot make it past BIOS screen without either a black screen, or displaying a corrupted boot logo. This is the only occurrance of this event
29	Dec 27, 2022-Jan 2, 2023	Vacation, computer unused
30	Jan 11, 2023	System Fault	No video signal on POST, system remains frozen in POST	Short press power button to reboot	No issue on next boot
31	Jan 23, 2023	System Fault	Display driver crash on login screen after boot	Hard reset	No issue on next boot	couldn't wait to see if system could self recover
32	Jan 25, 2023	System Fault	No DP signal when woken from sleep, PC auto restarts. eventmgr lists "windows restarted due to bugcheck (0x0000009f)"		No issue on next boot	Bugcheck 0x0000009f is a general type of error, some sources point to driver irp issues with amdkmdag.sys
33	Jan 27, 2023	System Fault	Display driver crash on login screen after boot	Attempted to shutdown system "blind" using narrator while driver crashed and recovered 5 times, after 5th recovery driver is disabled by windows	User logged in to windows and found that no GPU drivers were available (likely code 22). A restart was then performed. No issue on next boot
34	Jan 30, 2023	System Fault	Display driver crash after system wakes from sleep	Managed to sign in in-between crashes, display driver continues crashing and freezes on desktop	Hard reset performed. No issue on next boot	Sometimes the system keeps going in between crashes
35	Feb 6, 2023	Software Change	Screen flickers briefly during automatic update, interrupts YouTube video playback	Windows auto update AMD drivers to 22.10.2 (October), windows driver store version 31.0.12042.4	System functions as normal after update	User annoyed that windows insists on updating while system is actively in use. Could have negative effects in critical situations like video games
36	Feb 10, 2023	System Fault	Black screen when powered on	Short press power button to reboot	No issue on next boot
37	Feb 11, 2023	System Fault	Black screen when woken from sleep, system restarts automatically		User session was saved after restart, all apps remained open. No issues afterwards	Unusual behaviour as system probably crashed, but fast start and keep apps open settigns were disabled
38	Feb 16, 2023	System Fault	Display driver crash on login screen after boot	Driver crashed and recovered 5 times, after 5th recovery driver is disabled by windows. A restart was then performed	After restart, driver failed to load (code 31). Another restart was performed. No issue on next boot
39	Feb 23, 2023	System Fault	Black screen when woken from sleep, system frozen on black screen	Hard reset	No issue on next boot
40	Mar 21, 2023	System Fault	Display driver crash after system wakes from sleep	User manages to sign in after display driver crashes and recovers continuously every 10 seconds, after over 20 recoveries user is able to restart PC from windows UI.	No issue on next boot	Sometimes the driver is just stable enough to keep going and continuously recover
41	Mar 27, 2023	System Fault	Black screen when powered on	Short press power button to reboot	No issue on next boot
42	Mar 27, 2023	System Fault	Unknown crash when waking from sleep	Short press power button reboots system	System reboots as if nothing had happened and it was gracefully shutdown prior
43	Mar 27, 2023	System Fault	Unknown crash when waking from sleep	Short press power button reboots system	System reboots as if nothing had happened and it was gracefully shutdown prior	This symptom happens twice within one day, has not happened since
44	April 7, 2023	System Fault	Display driver crash on login screen after boot	Hard reset	No issue on next boot	Needed to use computer, couldn't wait and see if system will self recover
45	April 8, 2023	System Fault	Black screen when powered on	Short press power button to reboot	No issue on next boot
46	April 9, 2023	System Fault	Frozen screen with ROG logo on boot	Short press power button reboots system	No issue on next boot	Frozen on POST again, but with an intact logo this time!
47	April 14, 2023	Software Change		COMPLETE WINDOWS REINSTALL		Reinstalled windows 10 from USB using the media creation tool on a different PC
48	April 14, 2023	Software Change		RAM set to 3600MHz		3600MHz set manually, no XMP, other settings left on AUTO
49	April 14, 2023	Software Change		Windows automatically reinstalls AMD drivers from driver store		Version 31.0.12042.4 (Adrenaline 22.20.42) DCH/Win1064 , dated Oct 19, 2022 Data obtained from GPU-Z
50	April 14, 2023	User Note				From this point forward, majority of crashes after OS has loaded result in display driver crashes, but windows is able to recover each time and load basic display drivers. No AMD Adrenaline has been installed. Unsure if the minimal driver install from windows has something to contribute to this
51	April 14, 2023	Hardware change		Added labels to RAM sticks to diagnose potential RAM issues RAM A = red, RAM B = blue	RAM A in DIMM_SLOT A, RAM B in DIMM_SLOT B
52	April 24, 2023	System Fault	Display crash on login screen after boot, system tries to recover 3 times then remains frozen	Hard reset	No issue on next boot
53	April 29, 2023	System Fault	Display crash on login screen after boot, after 1 recovery attempt system auto reboots		No issue on next boot	First instance of windows recovering from unstable driver since reinstall
54	May 1, 2023	System Fault	Display crash on login screen after boot, after 1 recovery attempt windows fallback to basic display driver	User logs in to windows, device manager shows code 31, attempting to reinstall AMD drivers results in a crash, black screen, and then code 43 after recovering , a restart was then performed	No issue on next boot
55	May 2, 2023	System Fault	Display crash on login screen after boot, after 3 recovery attemps windows fallback to basic display driver	User logs in to windows, device manager shows code 31, a restart was then performed	No issue on next boot
56	May 14, 2023	System Fault	Display crash on login screen after boot, after 10 recovery attemps windows fallback to basic display driver	User logs in to windows, device manager shows code 22 for disabled device. Reenabling Radeon graphics shows code 31. A restart was then performed.	No issue on next boot	POST noted taking 2 seconds longer than the usual 5 second fan spin
57	May 15, 2023	Hardware change		Changed RAM stick positioning: RAM A in DIMM_SLOT B, RAM B in DIMM_SLOT A
58	May 19, 2023-May 22, 2023	Vacation, computer unused
59	May 24, 2023	System Fault	Display crash on login screen after boot, after 3 recovery attempts system restarts		No issue on next boot	Noted user was presented with windows 11 upgrade prompt on login after restart
60	May 24, 2023	Hardware change		Changed RAM stick positioning: No RAM in DIMM_SLOT B, RAM B in DIMM_SLOT A
61	May 26, 2023	System Fault	Display crash on login screen after boot, after 12 recovery attemps windows fallback to basic display driver	User logs in to windows, device manager shows code 31, a restart was then performed	No issue on next boot
62	May 26, 2023	Hardware change		Changed RAM stick positioning: No RAM in DIMM_SLOT B, RAM A in DIMM_SLOT A
63	May 31, 2023	System Fault	Display driver crash, after waiting for 3 recovery attempts a restart was performed		No issue on next boot	User did not see POST process as monitor was connected to another PC and manually switched to DP input
64	June 1, 2023	Hardware change		Changed RAM stick positioning: RAM B in DIMM_SLOT B, RAM A in DIMM_SLOT A
65	June 1, 2023	Software Change		RAM set to 3200MHz		3200MHz set manually, no XMP, other settings left on AUTO

^{Table formatting brought to you by ExcelToReddit}
Edit: Fixed some table formatting, some cells got offset.

So I have been at this for days now, and I feel like I'm going insane so I have is as my mod load order [unofficial Fallout 4patch] [ far away reform] [efb marshlands] [less grass 120] [Insignificant object remover] [Disabled lens flare] [Freemaker] [Unrestricted settlements] [scrap that settlement] [place anywhere] [push away companions] [Ed-e companion] [Alien Elvis] [Captain zao companion] [Stg Dornan companion remake] [Sparky] Sparky automatron DLC patch [Fawkes] power armor autopilot] [Patriot power armor companion] [Shei wolf Ally] [Mojave cazador's] [Capital Wasteland dogmeat] [Mojave geckos] [Capital Wasteland Yao guai] [Automaton expansion weapons] [automaton expansion weapons patch] [Capital Wasteland robot pack] [Any armour on any clothes] [Glowing Hancock] [TES-51 power armor skyrim] [Trial power armor] [Dogmeat hellhound armor V2] [Dogmeat helmets and hats] [jagiment] [The m38 gas mask] [HalfGasmask] [scavvers backpacks] [CROSS_ Mojave Manhunter] [Dak's ballistic mask] [hunting shotgun] [Winchester model 1897 shotgun] [AA-12 assault shotgun] [Unlimited companion framework] [cheat terminal] [No build limit] [mute player voice] [ugh mod manager cap] [Boston fpx fix] I don't know what to do. Could someone help me out with this issue I been getting crashes nonstop and lagging hard stuttering as well

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DIRT 5	4.3 TF2	$8.44 PP	-
DMC - Devil May Cry	1.0 TF2	$1.93 PP	-
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Destroy All Humans	0.7 TF2	$1.41 PP	-
Deus Ex: Human Revolution - Director's Cut	1.1 TF2	$2.25 PP	-
Deus Ex: Mankind Divided	1.1 TF2	$2.16 PP	-
Devil May Cry HD Collection	1.8 TF2	$3.5 PP	-
Devil May Cry® 4 Special Edition	1.6 TF2	$3.13 PP	-
DiRT Rally 2.0	5.1 TF2	$10.11 PP	-
Dinosaur Fossil Hunter	0.5 TF2	$0.9 PP	-
Distant Worlds: Universe	0.7 TF2	$1.29 PP	-
Doom Eternal	2.5 TF2	$4.94 PP	-
Door Kickers	1.9 TF2	$3.84 PP	-
Dorfromantik	2.0 TF2	$3.93 PP	-
Dragons Dogma - Dark Arisen	0.8 TF2	$1.57 PP	-
Drake Hollow	0.5 TF2	$0.91 PP	-
Drone Swarm	0.4 TF2	$0.81 PP	-
Dungeon Defenders	2.8 TF2	$5.47 PP	-
Dungeon Defenders: Awakened	2.8 TF2	$5.59 PP	-
Dungreed	0.9 TF2	$1.81 PP	-
Dusk	2.0 TF2	$3.91 PP	-
EARTH DEFENSE FORCE 4.1 The Shadow of New Despair	2.2 TF2	$4.28 PP	-
ELEX	1.1 TF2	$2.18 PP	-
EVERSPACE™	1.6 TF2	$3.16 PP	-
Elite: Dangerous	1.3 TF2	$2.67 PP	-
Empire of Sin	1.3 TF2	$2.55 PP	-
Endzone - A World Apart	0.5 TF2	$1.04 PP	-
Euro Truck Simulator 2	1.1 TF2	$2.19 PP	-
Exanima	2.6 TF2	$5.24 PP	-
FTL: Faster Than Light	1.0 TF2	$1.92 PP	-
Fable Anniversary	3.7 TF2	$7.32 PP	-
Fallout 76	2.1 TF2	$4.22 PP	-
Fantasy General II	0.6 TF2	$1.25 PP	-
Farming Simulator 17	0.6 TF2	$1.13 PP	-
Firefighting Simulator - The Squad	3.8 TF2	$7.47 PP	-
First Class Trouble	0.6 TF2	$1.12 PP	-
For The King	1.0 TF2	$1.92 PP	-
Forager	1.3 TF2	$2.6 PP	-
Forts	2.3 TF2	$4.52 PP	-
Friday the 13th: The Game	3.0 TF2	$5.86 PP	-
Frostpunk	1.0 TF2	$2.07 PP	-
Full Metal Furies	0.6 TF2	$1.15 PP	-
Furi	0.8 TF2	$1.62 PP	-
GRID - Ultimate	2.0 TF2	$3.97 PP	-
GRID™	0.9 TF2	$1.81 PP	-
GRIS	0.5 TF2	$0.92 PP	-
Gang Beasts	3.0 TF2	$5.89 PP	-
Garden Paws	1.0 TF2	$2.05 PP	-
Gas Station Simulator	1.9 TF2	$3.68 PP	-
Gears 5	11.7 TF2	$23.1 PP	-
Gears Tactics	4.5 TF2	$8.93 PP	-
Generation Zero®	1.5 TF2 Refer To My Other Thread	$2.93 PP Refer To My Other Thread	May Multiplayer Bundle
Goat Simulator	0.4 TF2	$0.88 PP	-
Godlike Burger	1.1 TF2	$2.1 PP	-
Golf With Your Friends	0.9 TF2	$1.69 PP	-
Gordian Quest	1.8 TF2	$3.58 PP	-
Gotham Knights	5.5 TF2	$10.83 PP	-
GreedFall	0.8 TF2	$1.54 PP	-
Grim Dawn	5.2 TF2	$10.28 PP	-
Grim Fandango Remastered	0.6 TF2	$1.09 PP	-
Guacamelee! 2	0.6 TF2	$1.19 PP	-
HITMAN™2 Gold Edition	3.1 TF2	$6.16 PP	-
HIVESWAP: Act 2	2.1 TF2	$4.18 PP	-
HOT WHEELS UNLEASHED™	1.8 TF2	$3.66 PP	-
HROT	1.9 TF2	$3.7 PP	-
Haiku, the Robot	1.3 TF2 Refer To My Other Thread	$2.56 PP Refer To My Other Thread	Must-Play Metroidvanias Bundle
Hard Bullet	1.2 TF2	$2.38 PP	-
Hearts of Iron IV: Battle for the Bosporus	1.8 TF2	$3.53 PP	-
Hearts of Iron IV: Cadet Edition	2.7 TF2	$5.3 PP	-
Hearts of Iron IV: Death or Dishonor	0.9 TF2	$1.74 PP	-
Hearts of Iron IV: Waking the Tiger	1.9 TF2	$3.68 PP	-
Heave Ho	0.6 TF2	$1.1 PP	-
Heavy Rain	2.1 TF2	$4.15 PP	-
Hell Let Loose	5.2 TF2	$10.32 PP	-
Hellblade: Senua's Sacrifice	1.1 TF2	$2.26 PP	-
Hello, Neighbor!	0.5 TF2	$0.91 PP	-
Hellpoint	0.4 TF2	$0.75 PP	-
Hero's Hour	0.5 TF2	$0.92 PP	-
Heroes of Hammerwatch	0.6 TF2	$1.13 PP	-
Hitman Absolution	0.4 TF2	$0.79 PP	-
Hitman Game of the Year Edition	1.3 TF2	$2.61 PP	-
Hollow Knight	2.8 TF2 Refer To My Other Thread	$5.48 PP Refer To My Other Thread	Must-Play Metroidvanias Bundle
Homefront: The Revolution	0.8 TF2	$1.68 PP	-
Homeworld: Deserts of Kharak	0.4 TF2	$0.77 PP	-
Horizon Chase Turbo	0.4 TF2	$0.72 PP	-
Hotline Miami 2: Wrong Number Digital Special Edition	0.7 TF2	$1.46 PP	-
Hotline Miami 2: Wrong Number	0.6 TF2	$1.15 PP	-
Hotline Miami	0.8 TF2	$1.56 PP	-
House Flipper VR	0.9 TF2	$1.73 PP	-
House Flipper	2.8 TF2	$5.5 PP	-
Human: Fall Flat	0.9 TF2	$1.88 PP	-
HuniePop	0.4 TF2	$0.89 PP	-
Huntdown	1.3 TF2	$2.6 PP	-
Hurtworld	2.1 TF2	$4.07 PP	-
Hyper Light Drifter	1.6 TF2	$3.11 PP	-
Hypnospace Outlaw	0.8 TF2	$1.55 PP	-
I Expect You To Die	1.4 TF2	$2.68 PP	-
I-NFECTED	6.3 TF2	$12.5 PP	-
INSURGENCY	1.6 TF2	$3.16 PP	-
Icewind Dale: Enhanced Edition	0.4 TF2	$0.73 PP	-
Imperator: Rome Deluxe Edition	1.1 TF2	$2.09 PP	-
Imperator: Rome	0.8 TF2	$1.6 PP	-
Injustice 2 Legendary Edition	0.9 TF2	$1.76 PP	-
Injustice 2	0.7 TF2	$1.46 PP	-
Injustice: Gods Among Us - Ultimate Edition	0.7 TF2	$1.32 PP	-
Into the Breach	1.5 TF2	$2.93 PP	-
Into the Radius VR	2.9 TF2	$5.84 PP	-
Ion Fury	1.6 TF2	$3.12 PP	-
Iron Harvest	1.4 TF2	$2.74 PP	-
Jalopy	0.9 TF2	$1.87 PP	-
Job Simulator	6.6 TF2	$13.01 PP	-
Jurassic World Evolution 2	2.4 TF2	$4.81 PP	-
Jurassic World Evolution	0.7 TF2	$1.43 PP	-
Just Cause 2	0.5 TF2	$1.06 PP	-
Just Cause 3 XXL Edition	1.3 TF2	$2.63 PP	-
Just Cause 4: Complete Edition	2.0 TF2	$3.97 PP	-
KartKraft	3.2 TF2	$6.3 PP	-
Katamari Damacy REROLL	1.1 TF2	$2.24 PP	-
Katana ZERO	1.1 TF2	$2.23 PP	-
Keep Talking and Nobody Explodes	2.7 TF2	$5.42 PP	-
Kerbal Space Program	0.8 TF2	$1.6 PP	-
Killer Instinct	8.8 TF2	$17.49 PP	-
Killing Floor 2	0.6 TF2	$1.2 PP	-
Killing Floor	0.9 TF2	$1.69 PP	-
Kingdom Come: Deliverance	1.5 TF2	$2.93 PP	-
Kingdom: Two Crowns	1.0 TF2	$1.95 PP	-
LEGO Batman 3: Beyond Gotham Premium Edition	0.5 TF2	$0.9 PP	-
LEGO Batman Trilogy	1.6 TF2	$3.07 PP	-
LEGO Harry Potter: Years 1-4	0.4 TF2	$0.79 PP	-
LEGO Harry Potter: Years 5-7	0.6 TF2	$1.11 PP	-
LEGO Lord of the Rings	0.4 TF2	$0.83 PP	-
LEGO Star Wars III: The Clone Wars	0.5 TF2	$1.05 PP	-
LEGO Star Wars: The Complete Saga	0.6 TF2	$1.13 PP	-
LEGO® City Undercover	0.7 TF2	$1.34 PP	-
LEGO® DC Super-Villains Deluxe Edition	1.7 TF2	$3.28 PP	-
LEGO® DC Super-Villains	0.4 TF2	$0.78 PP	-
LEGO® Jurassic World™	0.4 TF2	$0.71 PP	-
LEGO® MARVEL's Avengers	0.4 TF2	$0.78 PP	-
LEGO® Marvel Super Heroes 2 Deluxe Edition	0.9 TF2	$1.83 PP	-
LEGO® Marvel Super Heroes 2	0.7 TF2	$1.34 PP	-
LEGO® Star Wars™: The Force Awakens - Deluxe Edition	1.1 TF2	$2.25 PP	-
LEGO® Star Wars™: The Force Awakens	0.6 TF2	$1.15 PP	-
LEGO® Worlds	1.1 TF2	$2.12 PP	-
LIMBO	0.4 TF2	$0.71 PP	-
Labyrinth City: Pierre the Maze Detective	0.7 TF2	$1.47 PP	-
Labyrinthine	1.9 TF2	$3.76 PP	-
Lake	0.8 TF2	$1.51 PP	-
Last Oasis	1.6 TF2	$3.11 PP	-
Layers of Fear 2	6.3 TF2	$12.52 PP	-
Layers of Fear	0.6 TF2	$1.12 PP	-
Legion TD 2	1.7 TF2	$3.33 PP	-
Len's Island	4.2 TF2	$8.26 PP	-
Lethal League Blaze	1.5 TF2	$3.06 PP	-
Lethal League	0.8 TF2	$1.58 PP	-
Library Of Ruina	3.2 TF2	$6.42 PP	-
Life is Feudal: Your Own	0.7 TF2	$1.39 PP	-
Life is Strange 2 Complete Season	0.7 TF2	$1.33 PP	-
Life is Strange Complete Season (Episodes 1-5)	4.5 TF2	$8.95 PP	-
Little Misfortune	2.3 TF2	$4.47 PP	-
Little Nightmares Complete Edition	1.6 TF2	$3.22 PP	-
Little Nightmares	1.0 TF2	$2.06 PP	-
Lobotomy Corporation Monster Management Simulation	5.0 TF2	$9.99 PP	-
Loot River	3.3 TF2	$6.47 PP	-
Lost Ember	1.4 TF2	$2.76 PP	-
Luck be a Landlord	2.4 TF2 Refer To My Other Thread	$4.77 PP Refer To My Other Thread	Luck of the Draw: Roguelike Deckbuilders Bundle
METAL GEAR SOLID V: The Definitive Experience	1.5 TF2	$2.89 PP	-
MONSTER HUNTER RISE	4.1 TF2	$8.09 PP	-
MORTAL KOMBAT 11	1.8 TF2	$3.53 PP	-
MX vs ATV Reflex	0.4 TF2	$0.71 PP	-
Mad Max	1.2 TF2	$2.32 PP	-
Mafia II: Definitive Edition	3.6 TF2	$7.11 PP	-
Mafia III: Definitive Edition	2.1 TF2	$4.21 PP	-
Mafia: Definitive Edition	2.2 TF2	$4.36 PP	-
Magicka 2 - Deluxe Edition	0.9 TF2	$1.69 PP	-
Magicka 2	0.6 TF2	$1.18 PP	-
Maneater	0.8 TF2	$1.63 PP	-
Manhunt	1.1 TF2	$2.18 PP	-
Mars Horizon	0.8 TF2	$1.53 PP	-
Mass Effect™ Legendary Edition	7.8 TF2	$15.36 PP	-
Max Payne 2: The Fall of Max Payne	0.6 TF2	$1.22 PP	-
Max Payne	1.0 TF2	$2.06 PP	-
MechWarrior 5: Mercenaries	2.5 TF2	$5.02 PP	-
Medal of Honor	2.1 TF2	$4.24 PP	-
Mega Man Legacy Collection	0.5 TF2	$0.9 PP	-
Men of War: Assault Squad 2 - Deluxe Edition	0.9 TF2	$1.69 PP	-
Men of War: Assault Squad 2 War Chest Edition	0.8 TF2	$1.6 PP	-
Men of War: Assault Squad 2	0.8 TF2	$1.6 PP	-
Metro 2033 Redux	0.5 TF2	$1.05 PP	-
Metro Exodus	1.4 TF2	$2.79 PP	-
Metro Redux Bundle	1.1 TF2	$2.17 PP	-
Metro: Last Light Redux	1.1 TF2	$2.26 PP	-
Middle-earth: Shadow of Mordor Game of the Year Edition	0.9 TF2	$1.71 PP	-
Middle-earth™: Shadow of War™	0.9 TF2	$1.8 PP	-
Middleearth Shadow of War Definitive Edition	1.2 TF2	$2.37 PP	-
Midnight Ghost Hunt	2.5 TF2 Refer To My Other Thread	$4.93 PP Refer To My Other Thread	May Multiplayer Bundle
Mini Ninjas	0.5 TF2	$1.05 PP	-
Mirror's Edge	2.2 TF2	$4.36 PP	-
Miscreated	1.4 TF2	$2.87 PP	-
Monster Hunter: World	3.5 TF2	$6.89 PP	-
Monster Sanctuary	0.6 TF2	$1.26 PP	-
Monster Train	0.5 TF2	$0.92 PP	-
Moonlighter	0.4 TF2	$0.85 PP	-
Moons of Madness	1.8 TF2	$3.48 PP	-
Mordhau	1.7 TF2	$3.32 PP	-
Mortal Shell	1.4 TF2	$2.77 PP	-
Motorcycle Mechanic Simulator 2021	0.8 TF2	$1.58 PP	-
Motorsport Manager	1.3 TF2	$2.55 PP	-
Move or Die	0.7 TF2	$1.46 PP	-
Moving Out	1.4 TF2	$2.82 PP	-
Mutant Year Zero: Road to Eden - Deluxe Edition	1.5 TF2	$3.01 PP	-
My Friend Pedro	1.0 TF2	$1.91 PP	-
My Time At Portia	0.7 TF2	$1.43 PP	-
NARUTO SHIPPUDEN: Ultimate Ninja STORM 4 Road to Boruto	2.6 TF2	$5.23 PP	-
NARUTO SHIPPUDEN: Ultimate Ninja STORM Revolution	0.8 TF2	$1.5 PP	-
NASCAR Heat 5 - Ultimate Edition	0.6 TF2	$1.1 PP	-
NBA 2K13	4.8 TF2	$9.52 PP	-
Naruto Shippuden: Ultimate Ninja Storm 4	1.6 TF2	$3.14 PP	-
Naruto to Boruto Shinobi Striker - Deluxe Edition	1.6 TF2	$3.13 PP	-
Naruto to Boruto Shinobi Striker	0.4 TF2	$0.83 PP	-
Necromunda: Hired Gun	0.7 TF2	$1.45 PP	-
Neon Abyss	0.5 TF2	$1.01 PP	-
Neverwinter Nights: Complete Adventures	3.7 TF2	$7.33 PP	-
Nine Parchments	2.2 TF2	$4.27 PP	-
No Time to Relax	2.9 TF2	$5.75 PP	-
Northgard	3.9 TF2 Refer To My Other Thread	$7.64 PP Refer To My Other Thread	May Multiplayer Bundle
Not For Broadcast	0.7 TF2	$1.36 PP	-
ONE PIECE BURNING BLOOD GOLD EDITION	2.0 TF2	$3.91 PP	-
ONE PIECE BURNING BLOOD	0.7 TF2	$1.46 PP	-
ONE PIECE PIRATE WARRIORS 3 Gold Edition	1.2 TF2	$2.38 PP	-
Observer	0.4 TF2	$0.74 PP	-
Oddworld: New 'n' Tasty	0.4 TF2	$0.72 PP	-
One Step From Eden	0.5 TF2	$1.03 PP	-
Operation: Tango	0.4 TF2 Refer To My Other Thread	$0.8 PP Refer To My Other Thread	Humble Choice (May 2023)
Opus Magnum	1.1 TF2	$2.13 PP	-
Orcs Must Die! 3	1.9 TF2	$3.69 PP	-
Outlast 2	0.6 TF2	$1.17 PP	-
Outlast	0.5 TF2	$1.06 PP	-
Outward	1.5 TF2	$2.94 PP	-
Overcooked	1.0 TF2	$2.02 PP	-
Overcooked! 2	1.3 TF2	$2.59 PP	-
Overgrowth	0.8 TF2	$1.53 PP	-
Overlord II	0.4 TF2	$0.85 PP	-
Owlboy	1.0 TF2	$2.04 PP	-
PAYDAY 2	0.4 TF2	$0.82 PP	-
PC Building Simulator	0.7 TF2	$1.32 PP	-
PGA TOUR 2K21	0.6 TF2	$1.24 PP	-
Paint the Town Red	2.4 TF2	$4.73 PP	-
Parkitect	5.5 TF2	$10.98 PP	-
Party Hard 2	0.4 TF2	$0.71 PP	-
Pathfinder: Kingmaker - Enhanced Plus Edition	0.6 TF2	$1.25 PP	-
Pathologic 2	0.5 TF2	$1.04 PP	-
Pathologic Classic HD	0.4 TF2	$0.85 PP	-
Per Aspera	0.7 TF2	$1.39 PP	-
Phantom Doctrine	0.4 TF2	$0.85 PP	-
Pillars of Eternity Definitive Edition	1.3 TF2	$2.66 PP	-
Pillars of Eternity II: Deadfire	1.0 TF2	$2.07 PP	-
Pistol Whip	6.2 TF2	$12.33 PP	-
Plague Inc: Evolved	1.6 TF2	$3.23 PP	-
Planescape: Torment: Enhanced Edition	0.4 TF2	$0.78 PP	-
Planet Coaster	1.8 TF2	$3.55 PP	-
Planet Zoo	2.0 TF2	$3.93 PP	-
Planetary Annihilation: TITANS	6.0 TF2	$11.91 PP	-
Portal Knights	1.3 TF2	$2.62 PP	-
Power Rangers: Battle for the Grid	2.8 TF2	$5.48 PP	-
PowerBeatsVR	1.0 TF2	$1.99 PP	-
PowerSlave Exhumed	1.4 TF2	$2.79 PP	-
Praey for the Gods	0.6 TF2	$1.16 PP	-
Prehistoric Kingdom	1.5 TF2	$2.93 PP	-
Prison Architect	0.4 TF2	$0.76 PP	-
Pro Cycling Manager 2019	1.3 TF2	$2.61 PP	-
Project Hospital	2.4 TF2	$4.82 PP	-
Project Wingman	2.6 TF2	$5.21 PP	-
Project Winter	1.1 TF2	$2.17 PP	-
Propnight	0.7 TF2	$1.32 PP	-
Pumpkin Jack	0.4 TF2	$0.84 PP	-
Quantum Break	2.0 TF2	$4.0 PP	-
RESIDENT EVIL 3	2.3 TF2	$4.49 PP	-
RUGBY 20	1.3 TF2	$2.58 PP	-
RWBY: Grimm Eclipse	3.3 TF2	$6.62 PP	-
Ragnaröck	3.5 TF2	$6.93 PP	-
Rain World	1.1 TF2 Refer To My Other Thread	$2.19 PP Refer To My Other Thread	Must-Play Metroidvanias Bundle
Raw Data	1.1 TF2	$2.17 PP	-
Re:Legend	1.1 TF2	$2.13 PP	-
Red Faction Guerrilla Re-Mars-tered	0.5 TF2	$0.95 PP	-
Red Matter	4.5 TF2	$8.95 PP	-
Resident Evil / biohazard HD REMASTER	1.1 TF2	$2.23 PP	-
Resident Evil 0 / biohazard 0 HD Remaster	1.2 TF2	$2.35 PP	-
Resident Evil 5 GOLD Edition	1.8 TF2	$3.53 PP	-
Resident Evil 5	1.1 TF2	$2.16 PP	-
Resident Evil 6	1.4 TF2	$2.81 PP	-
Resident Evil: Revelations 2 Deluxe Edition	2.5 TF2	$4.88 PP	-
Resident Evil: Revelations	0.8 TF2	$1.5 PP	-
Retro Machina	0.5 TF2	$1.02 PP	-
Risen 2: Dark Waters Gold Edition	1.5 TF2	$2.88 PP	-
Risen 3 - Complete Edition	1.0 TF2	$2.07 PP	-
Risen	0.9 TF2	$1.82 PP	-
Rising Storm 2: Vietnam	0.7 TF2	$1.34 PP	-
River City Girls	1.4 TF2	$2.87 PP	-
Roboquest	0.5 TF2	$1.06 PP	-
RollerCoaster Tycoon Deluxe	1.1 TF2	$2.09 PP	-
Rollercoaster Tycoon 2: Triple Thrill Pack	1.7 TF2	$3.28 PP	-
Rubber Bandits	0.8 TF2	$1.52 PP	-
Ryse: Son of Rome	1.7 TF2	$3.38 PP	-
SCP: Pandemic	2.2 TF2	$4.28 PP	-
SCUM	3.0 TF2	$5.96 PP	-
SOMA	2.4 TF2	$4.8 PP	-
SONG OF HORROR Complete Edition	0.7 TF2	$1.42 PP	-
STAR WARS® THE FORCE UNLEASHED II	0.8 TF2	$1.62 PP	-
STAR WARS™: Squadrons	1.6 TF2	$3.23 PP	-
SUPERHOT VR	2.3 TF2	$4.51 PP	-
SUPERHOT	0.8 TF2	$1.59 PP	-
SUPERHOT: MIND CONTROL DELETE	0.5 TF2	$1.02 PP	-
Saint's Row The Third Remastered	2.3 TF2	$4.5 PP	-
Saints Row 2	0.6 TF2	$1.16 PP	-
Saints Row IV Game of the Century Edition	1.1 TF2	$2.25 PP	-
Saints Row IV	1.0 TF2	$2.05 PP	-
Saints Row the Third - The Full Package	1.0 TF2	$1.93 PP	-
Saints Row: The Third	0.6 TF2	$1.27 PP	-
Salt and Sanctuary	1.1 TF2	$2.15 PP	-
Sanctum 2	0.5 TF2	$1.06 PP	-
Satisfactory	6.6 TF2	$13.01 PP	-
Second Extinction	2.1 TF2	$4.11 PP	-
Secret Neighbor	0.9 TF2	$1.85 PP	-
Serious Sam 2	0.8 TF2	$1.58 PP	-
Serious Sam 3: BFE	1.0 TF2	$1.99 PP	-
Serious Sam 4	4.0 TF2	$7.94 PP	-
Serious Sam: Siberian Mayhem	2.3 TF2	$4.51 PP	-
Shadow Man Remastered	1.0 TF2	$2.0 PP	-
Shadow Tactics: Blades of the Shogun	0.4 TF2	$0.85 PP	-
Shadow Warrior 2	0.9 TF2	$1.76 PP	-
Shadow of the Tomb Raider	3.2 TF2	$6.37 PP	-
Shenmue 3	1.3 TF2	$2.58 PP	-
Shenmue I & II	1.3 TF2	$2.58 PP	-
Shining Resonance Refrain	0.5 TF2	$0.96 PP	-
Sid Meier's Civilization VI : Platinum Edition	3.0 TF2	$6.03 PP	-
Sid Meier's Civilization VI	0.7 TF2	$1.47 PP	-
Sid Meier's Civilization® V: The Complete Edition	1.9 TF2	$3.76 PP	-
Sid Meiers Civilization IV: The Complete Edition	0.8 TF2	$1.6 PP	-
Siege of Centauri	0.6 TF2	$1.16 PP	-
SimCasino	1.3 TF2	$2.56 PP	-
SimplePlanes	1.9 TF2	$3.78 PP	-
Skullgirls 2nd Encore	1.2 TF2	$2.47 PP	-
Slap City	1.1 TF2	$2.25 PP	-
Slay the Spire	3.6 TF2	$7.17 PP	-
Sleeping Dogs: Definitive Edition	1.0 TF2	$1.93 PP	-
Slime Rancher	1.7 TF2	$3.32 PP	-
Sniper Elite 3	1.1 TF2	$2.14 PP	-
Sniper Elite 4	1.3 TF2	$2.53 PP	-
Sniper Elite V2 Remastered	1.3 TF2	$2.5 PP	-
Sniper Elite V2	1.0 TF2	$2.05 PP	-
Sniper Ghost Warrior 3	0.8 TF2	$1.58 PP	-
Sniper Ghost Warrior Contracts	0.9 TF2	$1.88 PP	-
Sonic Adventure DX	0.5 TF2	$0.92 PP	-
Sonic Adventure™ 2	0.9 TF2	$1.86 PP	-
Sonic Mania	1.3 TF2	$2.6 PP	-
Soul Calibur VI	1.6 TF2	$3.24 PP	-
Source of Madness	0.6 TF2	$1.13 PP	-
Space Engineers	2.7 TF2	$5.3 PP	-
Space Haven	0.6 TF2	$1.15 PP	-
Spec Ops: The Line	0.9 TF2	$1.81 PP	-
SpeedRunners	0.5 TF2	$1.04 PP	-
Spellcaster University	0.5 TF2	$0.9 PP	-
Spelunky	1.1 TF2	$2.23 PP	-
Spirit Of The Island	1.3 TF2	$2.59 PP	-
Spiritfarer	1.1 TF2 Refer To My Other Thread	$2.18 PP Refer To My Other Thread	Humble Choice (May 2023)
SpongeBob SquarePants: Battle for Bikini Bottom - Rehydrated	1.3 TF2	$2.51 PP	-
Spyro™ Reignited Trilogy	4.9 TF2	$9.65 PP	-
Star Renegades	3.0 TF2	$5.94 PP	-
Star Trek: Bridge Crew	4.4 TF2	$8.62 PP	-
Star Wars Republic Commando™	0.4 TF2	$0.71 PP	-
Star Wars: Battlefront 2 (Classic, 2005)	1.4 TF2	$2.7 PP	-
Star Wars: Knights of the Old Republic	0.4 TF2	$0.85 PP	-
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My theory on hook-up culture
I define hook-up culture as the idea that young people are too young for commitment, so instead should engage in casual sex to gain sexual variety and sexual experience before committing to a serious relationship. I would also say hook-up culture believes that this is how humans were meant to mate and that it's in our nature, and society only suppresses our desire to hook up. Hook-up culture is not just casual sex or people engaging in casual sex I want to make that clear. My main argument boils down to human sexual behavior changes due to changes in our environment and hoe exception to behavioral norms don't exist in a vacuum but rather are caused by something. I believe hook-up culture emerged from social and economic factors that are unhealthy for humans. I believe hook-up culture is prevalent in our society because of atomization and alienation, toxic masculinity, mental disorders, amplification of FOMO produced by consumerism, porn culture, careerism (stress from career and relocation of jobs), poor upbringing, bad experience with romance, and pressure from media (self-fulfilling prophecy).
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I believe atomization and alienation make it harder to connect and trust people. I think careerism makes us more tired and stressed to even spend time with friends and hobbies. Porn culture and consumerism alienate sex from romance and amplifies the feeling of missing out. Mental disorders make it harder for us to be ok with uncomfortable emotions, and people typically veer towards a coping mechanism which could be casual sex, to escape their problems. Previous bad experiences with relationships might also make people mistrust romance and attain a pessimistic mindset regarding romance. Growing up in an unhealthy household can further push people towards pessimism. Or some people who had healthy upbringing learn to separate sex from love by watching porn, media, or developed mindset that everyone does it so they are inevitably going to do it.
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I believe hook-up culture has existed in the past, but it was much more silent in the past, but now it's becoming mainstream since monogamous romantic relationships are crippling due to the factors I mentioned above. Just because a fish dies on land doesn't mean there is a problem with the fish; rather, the environment is not suited for the fish to live. If you put the fish in the water, you will see it thrive and flourish. I am not saying romantic relationships cannot exist now, but rather, the current conditions make it harder for it to exist and flourish especially in our youth. I believe if we build tighter communities, provide better access to mental health care, teach kids relationship skills, and combat consumerism and porn culture, hook-up culture will disappear and long-term relationships will begin to flourish like never before.
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I do not believe hook-up culture is how humans were meant to mate. I believe human dating culture changes over time. A socialist feminist named Alexandra Kollantai talks about how human dating culture changes over time in her essay https://www.marxists.org/archive/kollonta/1923/winged-eros.htm. I want to say I don't agree with her on everything but she makes good points in this essay
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https://exploringyourmind.com/sex-isnt-natural-cultural/
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https://www.psychologytoday.com/us/blog/underneath-the-sheets/202002/is-sex-natural
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https://www.oxfordbibliographies.com/display/document/obo-9780199941728/obo-9780199941728-0076.xml#:~:text=Human%20behavioral%20ecology%20(HBE)%20asks,the%20study%20of%20human%20behavior%20asks,the%20study%20of%20human%20behavior).
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https://www.sciencedirect.com/topics/social-sciences/human-behavioral-ecology
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https://pressbooks-dev.oer.hawaii.edu/explorationsbioanth/chapte__unknown__-17/
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I also want to preface that I am not saying casual sex is bad. But I want to point out that hook-up culture is just a product of its environment. If the environment changes to be more suitable for long-term relationships then hook-up culture will disappear. Sure I believe there might be small pockets of people who have casual sex but that's not hook-up culture and only would happen in specific circumstances. At the end of the day, my analysis and conclusion are similar to evolution.
​
In evolution, the environment changes the organism and even the behavior of organisms. For example, elephants who moved into small islands became small to adapt to their new environment. The dietary behavior or sea otters of the same species changes depending on the environment. In both cases, there is elephants aren't meant to be big and sea otters aren't meant to eat a specific type of fish. Any organism that deviates from the norm exists do so because of a reason. Diversity does not exist in a vacuum something causes exceptions in a given population.
​
https://www.frontiersin.org/articles/10.3389/fevo.2022.893453/full#:~:text=Animals%20often%20respond%20to%20a,adapted%20to%20the%20new%20conditions.
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https://nature-mentor.com/environment-animal-behavio
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https://www.sciencedaily.com/releases/2021/10/211019110537.htm
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https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6557547/
​
https://www.tandfonline.com/doi/pdf/10.1080/15592294.2019.1583039

Intro

To preface this review, I just need to say that this is going to be a very, very long read. Going through it myself just for the fun of it takes around 15 minutes — it's around 6k words of text, including references to the lyrics. So for the best experience, listen to the album beforehand to understand what the hell I was thinking when I wrote this review and set a good amount of time aside.
Another thing to get out of the way: yes, this is 9 months late

Between 1&2 💞

Album Review
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TELL ME WHAT YOU WANT
TELL ME WHAT YOU NEED
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Talk that Talk 🎙

One of the most perfect TWICE songs.
I think this is one of TWICE’s best sounding title tracks. Modulated synths, a thrumming bass line, distant bells, shimmering synths—the purpose of this song is to be fun and my god is it excellent at it, like… Sana and Chaeyoung are saying knock-knock-knock and beep-beep-beep as if they’re some kind of car. So much fun.
Dahyun, Tzuyu, and Jeongyeon’s vocals sound incredible in this intro. Dahyun’s voice sounds so full and smooth with that harmony layered on top. Tzuyu coming in with the Yes or Yes, Push & Pull, and 1 to 10 references — these are 5 years of song references in one line. And Jeongyeon closes the prechorus accompanied by a rising synth to drop into chorus one. Jeongyeon slays prechoruses.
The drums accelerate, the synths start blasting, and Jihyo opens to that party of a chorus with her godly vocals
Tell me what you want Tell me what you need A to Z da malhaebwa But shijageun ireoke hae Talk that talk ttak han madi Talk that talk L-O-V-E deullyeojweo ooh Now now now now now yeah~
This song’s chorus is so honest yet so simple; it asks the listener, in this case the other half of the relationship, to be more upfront and open with their love — never be scared of love — that before the relationship can continue and flourish there has to be a foundation and commitment of love between each other.
Now, back to this banger of a song. Beneath the Talk that Talk~ lines there’s this ascending synth bell that gently rings with each syllable and it sounds absolutely gorgeous. And the choreography during that part of the chorus is so so so so fun: from pretending that hands are talking, to that synergetic head bop and hand shuffle, to the deullyeojweo ooh! Oh my god Jihyo the deullyeojweo ooh…
Have I mentioned this song is fun?
Speeding through verse 2; Chaeyoung’s little part with the cat ears popping in the music video is adorable; Momo’s part with her solo choreography stretching out looks so damn cool; and Dahyun with her replay part sounds so lovely — although I think it sonically sounds a touch random, it makes sense thematically.
And now for this prechorus. Mina and Jihyo leading into it sound great BUT JEONGYEON… Now I am freaking out because she’s my ult bias, and this prechorus sounds almost identical to the first one, but the way she holds that final note, inflecting and enunciating the now~ for one more beat sounds so god damn perfect — the song almost teeters on a cliff edge, moments before diving into the chorus. Jeongyeon slays prechoruses.
Dropping into the second chorus and man, Jihyo killed that first chorus, but the way Nayeon delivers it just hits a bit different. She has an indescribable “pop” voice that stands out and shouts out loud this-is-THE-chorus. Jihyo’s voice brings the power, Jeongyeon has the allure, and Nayeon brings the energy. I think this is especially apparent in how she leads into the chorus and her A to Z da malhaebwa line: Jihyo starts the “tell” at 120% power whereas Nayeon waits until “what” to full-send the chorus; later in the chorus, she then highlights “malhaebwa” in a more pronounced and dynamic way before softening her voice again for her next line.
Another deullyeojweo ooh! Nayeon travels to Narnia, and Mina the engineer strikes again in this heavenly, underwater-esque bridge.
The simple words “I love you” That’s all I wanna hear Without hesitation, I’ll go up to you I’ll make it simple
And just tell you I love you
The word “love” is said for the first time in the song. There’s a funky keyboard-like instrument behind Chaeyoung’s part. Then Jihyo, Chaeyoung, and Nayeon take initiative in their lyrics, professing their love before closing the bridge.
And can I just say before finishing the song off with the part that makes it exceptional, that this is such a fun and repeatable song with many little intricacies hidden in the nonet’s vocals and the song’s production. This is the second time I’m writing about Talk that Talk and it’s word count pretty much quadrupled.
And now for the pièce-de-résistance: this final double chorus is exceptional — 40 seconds of crack-laced euphoria; Jihyo switches up the chorus, Dahyun comes in with her airy “Talk that Talk”, Momo coming out of nowhere with “oh yeah it sounds so good!” — you’re damn right it does.
The second half continues; Nayeon belting out “tell me what you need!”, about what I said earlier with Nayeon’s chorus where she plays with her vocal delivery, contrasting a really powerful line with a softer one, Jeongyeon does it too with her
han beon deo~ haejweo
geurae banggeum geu mal~
From Momo’s part onwards, this song SOARS. Nayeon brings the song to even higher highs and Jeongyeon continues it still with her melody before smoothly slowing it down for Tzuyu’s line, closing the song off with the final deullyeojweo ooh!
What a party.
What a song.
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THE GOOD
- The synths of all time
- The chimes during Talk-that-talk~
- Jeongyeon’s prechorus going into Nayeon’s chorus
- The entire, double-shot, last chorus
- Solid line distribution
Needs Work
- Hook (Tell me what you want) and accompanying choreography could be “catchier”
Life Highlight
- Singing (and dancing) my heart out when this song played during a K-pop club
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This song feels like that bubbly, excited feeling right before, or during, a party, or any event that you really wanted to go to. It simply feels like unadulterated, pure, unbridled joy and elation and escapism. The synths and instrumentation really have to be commended alongside TWICE’s vocals. There’s just a warmth and happiness to this gosh darn song that feels so very TWICE.
Lyrics and theme-wise, if this were to have been TWICE’s last comeback, they’ve done the thing: they’ve done a Bildungsroman, a coming of age story.
TWICE debuted with a song about making your crush go ooh ahh. Years later, they started maturing after asking “what is love?” by imagining their crush responding with “yes” when asking them out and now concluding with the phrase “talk that talk, [talk that] L-O-V-E”, being upfront with the relationship, wishing their partner to also be happy, to commit to them, to feel the love that they want to impart on them. From gawking like ooh-ahh to talking out your shared love like real adults — to have a true relationship between one and two. I think there’s something poetic in that.
Harkening back to TWICE’s roots by combining mature thinking with youthful character, an incredible ending to look forward, and just simply being a club-banger that’s easy to listen to, TTT is an easy 10/10.
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WATCH ME GO WATCH ME GO
RULE THE WORLD
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Queen of Hearts 👑

If there was one b-side to promote in a live clip, this was a solid choice.
Main producer: LDN Noise of SM
Helmed by LDN Noise going headlong into the Western boy-group rock-band aesthetic, Queen of Hearts is a boom boom clap song through and through. The drums are very prominent throughout the song, only giving room to riffs of electric guitar in the chorus to drive and continue the momentum of the song.
And speaking of the chorus, vocal line each got a chorus to flex and they did not fuck around
You ain’t ready for it
Watch me go~ watch me go~
Rule the world
Know you never doubted baby
I’mma go run the whole universe~
The cymbals crash, drums start booming, and the vocals… 3MIX all just so sound so equally good. And then followed by
Baby I was born to rule~~
Yeah I’m the queen, I’m the queen
And it’s all because of you~~
That I’m the Queen of Hearts
These looong held out notes performed by Jihyo and Nayeon are simply exquisite. Along with the shredding guitar, the drum set coming in full, the interludes by Dahyun, Momo, and Chaeyoung. This is the part of the song that always, always, give me goosebumps — it sounds so visceral, so energetic, so fun, so triumphant. Subjectively, boom boom clap songs can be hit or miss with people, but there is no denying that the pay off from the first part of the chorus to this second part is worth the wait.
The theme of the song so far has been kind of spread around the song. The chorus alludes to it with the line
And it’s all because of you
Mina and Chaeyoung show more sides of it in the second verse, especially with Mina’s phrase
And now that I’m surrounded by all my girls
We be shining bright like diamonds and pearls
It sounds really lovely — in a very cheesy and affectionate kind of way, as it rightfully should — song is about the girls and their fans. But the bridge is where the song truly shows it’s colours
Screaming out my name
See it in the stage lights
Feel so lucky just to have ya
Cause I know deep down I was meant for something bigger, greater
I know you’re seeing what I see
Yeah I’ll be everything you need
I know I’m gonna walk the walk
And talk the talk to be [the Queen of Hearts]
This is a song CONCEIVED TO BE PERFORMED FOR THE FANS. It’s meant to be loud. It’s meant to be unapologetic. It’s meant to be sappy. And it’s all the more wonderful for it.
This is the TWICEiest shit ever.
Like Talk that Talk, Queen of Hearts also has a killer closer. During the bridge, the production starts from a hushed guitar and bass drum duet with a touch a high hat, growing in intensity with a riser and harmonies at the end. The guitarist evolves in the background until finally going Super Saiyan and instead of supporting the drums, they take the centrepiece in tandem — eventually overtaking them with a little shred at the end of the chorus.
Then finally, the closing moments of the song even manages to squeeze in some more sappiness.
So thank you for the memories
You’re all the ones who made me~
So thank you for the memories
That I’m the Queen of Hearts
I still can’t believe that this banger is a FAN SONG out of all things. Truly, the TWICEiest shit ever.
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THE GOOD
- Adorable fucking lyrics
- Unrelenting, roaring chorus
- English and vocal flex
- Addicting guitar riffs
Needs Work
- Chaeyoung rapping in English in Korean songs somehow slaps harder than her English rapping in English songs
Life Highlight
- Walking home from a K-pop festival with this song playing, felt like a Queen of Hearts
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I love these types of rock songs with how grunge and head-bang-able they are, there is just a certain nostalgic and cheesy quality to them that feels so appropriate and cozy. I don’t love putting them on repeat, because in this case I do believe there is such a thing as too much of a good thing. Perhaps more shredding, maybe even a guitar solo to rock out to, or more gusto from the drums, cymbals, bass guitar, or an accompaniment(!) of ad-libs from TWICE’s vocal line to support Jihyo’s chorus time? A ONCE can dream for a truly bombastic rock song from TWICE. But then again that distracts from the core of what this song is and that is a fan song undercover as a rock song.
Queen of Hearts has so much sweetness in its lyrics and message that its overflowing. The drums, guitar, and vocals can be as loud and intricate as they can, but the theme of this song is what makes it special from TWICE’s other rock songs. And with a good combination of attitude and heart to make it a surprisingly incredible song, especially for fans of this type of sound — it’s a 9/10 for me.
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I WANNA WANNA WANNA
TAKE YOU TO THE BASICS
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Basics 🌈

Quite possibly the jammiest (pun intended) song of the album.
Sole lyric-writing credit: Chaeyoung
A song written by the Strawberry Princess herself — an event similar in frequency to Blackpink’s releases with her last song being 2020’s silky Handle It — Basics first starts with an understated and dreamy delivery. After the first stanza, however, a bouncy Miami bass line emerges, revealing the true nature of the song: this is a classic summer bop!
The song stretches back and forth with which attitude it wants to showcase but that chorus knows for sure what it wants to be. If you’re not bopping your head to the bassline, you better be bopping your head to the melody. Chaeyoung loves rhyming in the first half the chorus to enhance its catchiness and she is damn good at it:
I wanna wanna wanna take it to the basics
da weonhae weonhae weonhae? seodureuji ma Baby
ppeonhae ppeonhae malhae mweohae da al tende
Ah yeah ah yeah ah yeah ah yeah
The “wanna”, “weonhae”, and “ppeonhae” all combine to create these slant (imperfect) rhymes that continue momentum without feeling repetitive, iteration by derivation for the nerds.
Another characteristic of Chaeyoung’s songwriting is her unapologetic liberties with the song’s line distribution when displaying what she wants to showcase: her rap. She ate the first rap, then she ATE THE SECOND RAP. Those are her only two parts in the song yet she’s still sitting on top of the (fair, imo) line distribution.
The first rap after the intro is, like already mentioned, very dreamy and bouncy, it’s pop with R&B flourishes and, in my opinion, this is Chaeyoung’s bag. Her tone is very sing-songy and laid back, fitting the buildup to the pre-chorus. Syllables are pronounced at a triplet pace with a quarter at the end of each bar to give the rap room to breathe, further adding to the relaxed nature of this verse. Also, the line rainbow bubblegum is so adorable and so Chaeyoung.
That second rap on the other half… sheesh.
taneun deut tteugeoun samak wie
yeppeuge pieonan jangmi gata
joshimseure naege dagaol ttae
nado moreuge jjilleobeoril tende
Translating to:
Above the hot, burning desert
It’s like a rose that bloomed beautifully
When you come to me slowly
I will prick you unconsciously
After the very Boy With Luv-sounding “ah yeah ah yeah, ah yeah ah yeah” comes an 8 bar split half and half between Chaeyoung and Momo. Coming from the chorus, the same triplet-triplet-triplet-quarter structure is repeated across most of the verses, however the production completely cuts out for the first 2 bars. This adds tension; the song yearns to have that bass beat thumping again and all we have in the audio space in those 2 bars is Chaeyoung spitting — and she damn delivered:
The rap feels slick, effortless, confident. Her diction remains sharp when enunciating each syllable but she doesn’t let the flow of her rap waver or build as her 4 bars go by, it’s just smooth and consistent throughout. Even the lyrics possess an aura of laid-back collectedness that is just so her.
The things Chaeyoung can do when given her pen.
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THE GOOD
- That sweet summer vibe of a chorus
- The “spaceship” post-chorus is killer
- Strawberries with some spicy raps
- Sure-footed, confident lyrics
Needs Work
- Perhaps an alteration of that ah yeah ah yeah line
- The way Jihyo did her pre-chorus line is good, Mina’s is great
Life Highlight
- After donating my hair, walking down the rainbow coloured areas of downtown Toronto with this song playing was very… fitting
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This song is summer bliss distilled into 2:56 of MP3. It’s dreamy, the raps are satisfying, and the ending is very cute. I will say that although the second half of the song adds the crack-laced “spaceship” post-choruses and a floaty bridge with an incredible transition to the final chorus, the climax and killing parts of the song make it feel a bit front-loaded. And in an album stacked with incredible finishers, it feels more apparent.
With that said, it’s an 8/10 bop for me. This song is so radio-friendly and easy to put on and it feels exactly what Chaeyoung would make if she were given the reins to produce a pop song all on her own. The lyrics are non-chalant but full of meaning, the wordplay is intricate, the production is playful, and it’s not too in-your-face with the caliber of song that it is. Songs like Basics are the gold standard for good, simple, repeatable pop music and I’m happy that Chaeyoung got to test her pen in this genre.
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BABY WE’RE IN
TROUBLE TROUBLE
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Trouble 💃

One of the most enjoyable songs I’ve heard in a while.
Sole lyricist credit: Jihyo
Background vocals: Jihyo
Vocal director credit: Jihyo
Lead composer credit: Jihyo
There is an underlying tension within the first 4 bars of the song, Jihyo and Nayeon open it to a nondescript array of synths and then the stanza ends, Momo announces “let’s go”, the beat drops and it hits you:
This is a club song.
Toronto’s residential market needs this song injected into its veins because god damn this song has so so so much house in it.
The wobbly synth beat, the sprinkle of that house piano in the pre-chorus where the percussion is just about ready to explode, the ascension into this Cloud9 level chorus where
* Nayeon opens it using a breathy tone, with vocal chops serving as harmonies
* The blooming of the house piano to take centre stage
* Jeongyeon’s pronunciation of the word “trouble” almost sounding like a growl
* Chaeyoung slyly admitting “I like this trouble”
* The entirety of Tzuyu’s tro~oh~oh~ouble yeah~
* The descending melody of that house piano as the song ascends into euphoria
* Sana using her deep voice for the na~na~na~na
* Jihyo leading the vocals during the group synchronized T.W.I.C.E chant
This chorus is perfect.
And then.
AND THEN.
ANOTHER KILLING PART.
This rap fucking slaps.
During the first 2 bars, Chaeyoung is keeping it calm because that endorphin trip of a chorus just ended but ayo, no-one, and I mean no-one on the whole damn Earth expected her to snap that hard in the last 2 bars:
You cannot resist this
I - I - I I - I - I
Cannot miss this, such a bliss
I - I - I - I I - I - I
Ima put it down down
I-I - I - I I - I
Oh yeah, better kiss kiss
I - I I - I - I - I
The lines below the lyrics are the notes.
Note: I’m not that well versed in this technical aspect of music theory but I digress.
This is all in the span of 2 bars where it’s
Triplet-triplet-quadruplet-triplet,
Quadruplet-doublet-doublet-quadruplet.
This is all in the span of 5 seconds.
Now, 25 syllables/5 seconds = 5 syllables per second isn’t groundbreaking, but god damn it these 2 bars sound so nice — if there is one part in this album I always repeat, it’s this.
The addition of that first quadruplet for “cannot miss this” in the midst of all the triplets sticks out and accelerates the flow of the rap while the following doublets and quadruplets help to destabilize and slow the rap down as the verse closes. And can I just point out:
THE MAIN VOCALIST WROTE, DIRECTED, AND COMPOSED THIS SONG ‼️‼️‼️
Chaeyoung of course delivered the fuck out of her verse but THIS is what you get when you have a member not only write the words they’re saying but also the melody and flow with which they sing it in. This is what you get when a member knows the other members so well that when they write a song, they know how to make the group as a whole exceed. This is what you get when the artists you stan love doing artist shit.
And.
AND.
THAT’S NOT ALL.
For all the ranting I wrote on how much I love a damn good outro to close a song,
This outro slaps as well.
Woo wee woo wee woo
I like this trouble be-be by Momo
Woo wee woo wee woo
I like this trouble bay-be by Sana
Woo wee woo wee woo
I like this trouble bay-beh by Chaeyoung
Woo wee woo wee woo
I like this trou-ble by Jihyo
What an outro.
Like, come on, Nayeon’s imitating a police siren for crying out loud. And this is all after her ad-libs in the final post-chorus, after the pianist going full tilt and playing that piano as if it was their last day on Earth, after the final T.W.I.C.E chant by all the members, comes these blissful 20 seconds at the very end.
What a song.
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THE GOOD
- Theme of relishing in an uncontrolled love
- Mina and Sana’s melody in the pre-chorus
- Chorus
- Post-chorus
- Rap
- Outro
- Wees and woos
Needs Work
- Mina’s line of “falling down, falling down, falling down low” in verse 2 feels a bit too abrupt of a change — a bit out of place
Life Highlight
- After clubbing, I have a newfound appreciation for songs like these #noclubbingnolife
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Need I say more, easy 9/10. The only reason I place Talk that Talk above Trouble is because of what that song represents but other than that, this song is the best “international” sound they’ve put out. Actually, I haven’t listened to Eyes wide open in a while but this song is up there with one of the most sonically pleasing pieces of work they’ve done.
Clubbing TWICE music has always been a thing since TT was birthed in 2016, and has been a staple of their discography since 2019’s Fancy You and Feel Special mini albums, but Trouble unapologetically dives into and fits the house genre so well you’d think that this is TWICE’s bread and butter sound.
Trouble is Jihyo’s magnum opus.
What a song.
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BRAVE BRAVE BRAVE
FOR YOU
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Brave 💖

I first thought this was just a good song, then I read the lyrics.
Main producer: Slow Rabbit of HYBE
Gentle guitar plucks, shimmering synths, a distant keyboard in the right ear, in the left an occasional glockenspiel, the melodic oohs from the members — this song is PRETTY.
Once the chorus hits, the melodies pick up, more guitars get added, there’s even an electric guitar hidden in the mix somewhere, and the song evolves from a song with good vibes, to a song to dance to while crying in the club. And that’s without even delving into the lyrics.
The song describes a situation where the singer is in a darker place in life:
The night that was unusually dark
Above this terrifying world, felt so lonely
The world has grown in the time of wandering
So hard to breathe
It isn’t until another person gives them hope by calling them brave that they find the drive to keep on going, to keep on reaching higher highs, to try to be their truest self. Where has this theme been done before? Uhm…
THIS SONG IS FEEL SPECIAL AS A B-SIDE ‼️
Notable lyrics include:
A voice was heard makes me alive again
I was an endless maze, you became my sign
I’m never alone, so I’m never alone
My only believer
A dreamer that made me run further
This is such an emo song, oh my god. What makes it hurt even more that apparently, like how Feel Special can be interpreted, this song is centred around ONCE, which, again, is the TWICEiest shit ever. This group is so sappy and full of love, they deserve the whole world.
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THE GOOD
- Special lyrics
- Pleasant sound to vibe out to
- That gentle break after the first chorus
- Jihyo’s high note at the end
- A Nayeon Jeongyeon joint high note ⁉️
- Just pretty vocals throughout
Needs Work
- Potentially hard to read without translating the Korean lyrics
Life Moment
- Form of Therapy’s life motto revolves around the word “brave”. I don’t know where I got that from, but I remembered it right before watching his album reaction
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I’m actually spoiled with the TWICE members’ easy-to-understand songwriting that when a song like this pops up where it isn’t written by a member and the thematic bits are mostly in Korean I just tend to forget about it in favour of the other songs on the album. And, especially for a song focusing on a theme like this where the English phrases don’t do the Korean lyrics enough justice, it does place a barrier the listening experience a bit, dropping it down to an 7/10.
With that anecdote out of the way, this song is just such a vibe, man. I know that sounds incredibly hippy to say but Brave is so mellow and smooth that I can’t help but sway a little when that chorus hits. And then I remember what the lyrics say and I stop and cry a bit on the inside. This song is so pure, raw, and full of heart — we need more songs like these where they just reminisce about life while putting up an upbeat front. Crying while dancing the night away as they say, or something along those lines.
Also now feels like a good time to get into my rating system. A 10/10 song for me is one of the best of an artist’s discography, songs that encapsulate their ideas perfectly or expand upon them in a meaningful way. 9/10s are borderline perfect songs where I sometimes have trouble comprehending how excellent they are. 8/10s are great songs with standout characteristics, and 7/10s are songs where I feel the flaws are too apparent or are simply just great songs that I’m less attracted to.
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I SEE THE LIES
ON THE TIP OF YOUR TONGUE
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Gone 💨

Who the fuck pissed off Dubu this time??
Sole lyricist credit: Dahyun
It’s getting quite rare to see TWICE pull off brand new sounds because, with 218 songs under their belt, they’ve done so many genres and sub-genres varying from hyper pop, to bossa nova, to whatever 2020’s Go Hard is. So it’s surprising to know they’ve still got tricks up their sleeves and Gone is one of them.
The song starts with strings swinging back and forth and vocal chops dancing from ear to ear, teasing what’s yet to come. Jihyo enters the song with a whisper and the song sets its pace. A stagnant drum pad moves the song along and typical song convention would have Mina continuing the build but — it doesn’t. The song continues to simmer, adding a hint of high hat to the pot. And then, Sana and Tzuyu come on and surely the buildup has to bear fruit right?
Silence, until…
I see the lies on the top of your tongue
The strings emerge again on full blast, the simmer turns into a rolling boil, and the anger of the song is revealed.
All the fate I had towards you
Fades like a fog, gone, gone
Your flipping mind of doing this and that
I’m tired of it, it’s meaningless
In the beginning, it was hard to believe
With that, hatred increases
The singer is so scorned and burned from this relationship that they reminisce about all the effort they’ve put in since the beginning, but their “partner” is so unconcerned and unfaithful that they’ve just about had enough of the relationship altogether.
This has been Dahyun’s thing coming from 2020’s Bring It Back, 2021’s Cruel, and 2022’s That’s all I’m saying — emotionally charged breakup songs that make you feel as if she’s gone through a dozen bad relationships. Dispatch, do your job better, or don’t, I don’t really know.
Another highlight of the song is the post-chorus going into the bridge. This segment reiterates the structure from the first post-chorus — a barrage of drums supported by the rhythmic strumming of a bass guitar in the back along with a consistent synth filling out the soundscape. But this time, it’s Dahyun and Chaeyoung on the rap:
My limit, can’t stand it anymore
My patience, invisible
It’s lost, can’t find it, oh, it’s all gone
Even if I try to turn back, it’s too late
There’s no use for you anymore
All free, no tears, none left, it’s long Gone
Followed by Momo and Dahyun holding down the bridge
With your flipping mind, you’re on the way out
I know that you know what I’m talking ‘bout
Nothing you could say
That could turn this ‘round
I’m Gone
[English translation adjusted to fit the cadence of the Korean syllables.]
Continuing the disrespected theme of the song, Dahyun notes that she’s finally had enough; instead of reasoning and pondering to herself the mistake that this relationship was, she concludes that it’s time to pack her bags and go. Chaeyoung adding on that there’s no point salvaging what was once there for all of it is long gone.
Momo and Dahyun round it off by telling the listener that there’s no point trying to reason with them or playing naive, they fucked up and there’s no coming back.
Can I just say, it is a bit of a shame that Chaeyoung’s rapping popped off in this album whilst Dahyun only has this one verse that she shares with Chaeyoung, but it just sounds so good how Dahyun eases in after the chorus with her light rapping tone and transitioning into singing. She even holds the “gone” in a little crescendo for some added pizzazz.
And, there’s no way I’m not going to talk about Momo’s vocals in this bridge. Damned if she only got 1 line to use it in, her lower register is incredible. She sounds so smooth singing in this tone. All of TWICE do in particular but there is nary a weak vocal performance in this album.
To close the song off, a wash of synths get to have their shine in the spotlight, showered with Nayeon’s belting, signifying the dramatic and drawn out conclusion of this partnership. As an aside, I think this outro sounds like a GOT7 song.
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THE GOOD
- They’ve still got a few surprises left
- Thundering chorus
- 2nd rap and bridge combo
- Bitter, crumbling relationship theme
Needs Work
- I’m not a huge fan of Momo’s delivery in the 1st rap — she may have the best tone of the rap line but she has less experience
- The post-chorus in general, specifically the first one, can be a bit tiring on repeat listens
Life Highlight
- Actually, I think this song sounds like a mix between a GOT7 song, BLACKPINK’s Love To Hate Me, and Dahyun’s Bring It Back. I don’t know where I got this thought synthesized from, but it stuck
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Going back to that point about the first rap, or, more accurately, that first post-chorus as a whole; songs that have the production continue unchanged into the post-chorus/2nd verse are very hit or miss for me. And with a chorus as powerful as this, I’m expecting what follows to either contrast or “snap” into place right after the chorus. The post-chorus going into the bridge contrasts Dahyun’s light tone with the hard-hitting production, continuing the energy until it slowly fades into silence at the end of the bridge.
I guess how I view the first post-chorus is that it’s somewhere in the middle. Momo’s rap is trying to match the intensity of the production while Chaeyoung slows it down to lead into verse 2, but Momo’s delivery isn’t as clean as Dahyun’s. That could be attributed in part to the amount of lyrics, the vocal director, the melody constructed for that specific part, or just how loud the production is compared to the vocal mix — it could be any one of those factors because Momo, as proven by Hello, is capable of an insane flow.
Either or, as much as TWICE have been experimenting with their sound for the past 4 years now, I’m happy they’re still finding new ways to explore what they’re capable of. And for that alone, even though I’m not a big fan of songs like these where they rely on sounding “big”, Dahyun’s lyricism and the thrill I receive every time I indulge myself in this song when I listen to it in the first time in a while elevates it to a 8/10. Keep on breaking hearts, Dubu.
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INVINCIBLE
SUPERHEROES
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When We Were Kids 🧸

Press play to reminisce, pull up lyrics to cry
Sole lyricist credit: Dahyun
This song is so beautiful. I’m totally not writing this song review, crying on the bus, reminiscing about my childhood, while just having turned 21. I don’t know if these are happy or sad tears but this song is so beautiful either way.
Warm synths, muted piano, a gentle high hat, the younger members starting off the song — this has to be up there for one of the softest TWICE songs ever. And as it should, it’s one of the TWICEiest songs ever. And then Nayeon comes in
Invincible superheroes, we wanted to be adults
To the higher, clearer world
The chords start swelling, the high hat keeps pace, and then the harmonies come in
Remember when we were kids
When we were kids, we didn’t know
If we could go back
I will love it even more
Remember when we were kids
Jihyo takes up the second half of the chorus as it drops, trading the strings for an almost R&B synth production — if choir R&B takes off, this song started it. The song relishes in this cacophony of warm sounds until going back into its sparse and peaceful verses.
This time, the hints of piano are louder, little twinkling synths begin to shimmer, the drum buildup comes and Jeongyeon drives the song straight into the chorus. No time for the strings to build like in Nayeon’s — this song loves its chorus so much.
And can I just take this time to appreciate the amount of Jeongyeon vocals in this album. Her voice is so clean, stable, and projected — but also more tender and soft compared to the more pronounced tones of Nayeon and Jihyo.
The bridge comes in, repeating the phrase
I wish that I could meet
Could meet the younger me
Giving the song time to rest, before building back up to the last chorus — this time lead by Jihyo, transitioning from the bridge with her own unique lead-in, completing the 3MIX trifecta. And interestingly enough, Chaeyoung follows up in the second half of the chorus, rather than another member of the vocal line. She really did pop off in this album.
As the last chorus begins to close, the percussion at its strongest, the harmonies as prolific as they can get, the background choir vocals cranked up to their Sunday best, is the song going to end? Of course not! This is an album full of banger endings as if the songs don’t want to actually end, and When We Were Kids being the album closer very much indulges in that feeling.
After a brief refrain, supported by Nayeon’s high note with a touch of vibrato, the song almost dives back into a fourth chorus. Nayeon and Jeongyeon harmonize — an especially rare and heavenly moment. And the song repeats the bridge, reiterating that they want to meet their younger selves, this time with the more lush R&B production before closing with silence, a few piano notes, and Tzuyu singing the last line of the song
Oh, we were kids
Reflection, acceptance, hope.
What a song.
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THE GOOD
- Heavenly vocals throughout
- Generous harmonies
- Relatable, heartfelt lyrics
- Euphoric chorus
- Great closer to the album
Needs Work
- Refrain after the last chorus could’ve been executed better
Life Moment
- For an album titled Between 1&2, I don’t think anything hits harder than finishing the song reviews, with this song in particular, during your 21st birthday
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I wrote the first part of this review during the beginning of November. Then school, life, and other things got in the way of my headspace for me to feel confident about wrapping all of this up. In a way, I felt like I just didn’t want this review to end because of the sheer joy that writing gives me. I didn’t want the happiness to end. And then it hit me, after watching a YouTuber rank animated movies and them placing Spirited Away at the top and explaining “why” reminded me of just how important growing up is, and by extension this song.
This theme is important for both the rookie TWICE members in 2015 and the teenagers who would follow their journey and grow up with them, facing life’s obstacles along the way. Hardships that used to only involve family, crushes, hell, even what my next Instagram story should look like, evolve into working and commitments and all the struggles that adult life brings. Being a kid and enjoying the simple things in life is one of the most sought after moments we want to relive because we took growing up for granted. The only thing we can do now is look back on ourselves with fondness and rose-tinted lenses.
TWICE’s marketing message was originally to resonate with people through their senses and their hearts. That was during their debut, and I think it still holds up today. Touching people through their emotions is what TWICE, in my opinion, does best and is what makes them one of K-pop’s all time greats. It was never about having the best numbers, it was always about being the best idols. And to think that this journey of maturation and growth would occur from 2015 all the way to this song, being a fitting nod to TWICE’s 7th anniversary, I don’t think anyone at the company nor the group would ever imagine that they could get this far. It’s these nine women or none — 10/10.
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Epilogue

since June 17th 2022 i don’t remember a single day where i’ve been happy.
This was the day when me and the guy i liked went out for the first time, for context there was no chance of us dating seriously and i made sure to explain this to him when we first got to know each other but he didn’t mind and we both understood that it would have to end at some point. It was just a lot of fun i though we would end up going out for another couple months before he had to leave for uni but some stuff happened and after a month we ended whatever relationship we had at the time.
From the day it ended i don’t remember ever waking up feeling good about myself i was always sad i would always think about him and remember him, on the way home and to school i’d cry about him all the time i still miss him now, what i thought would improve over a couple months got worse, and i became even worse when i became acquainted with his younger brother and girlfriend.
They’re a couple years younger than me, both very sweet and sensible i would consider them my friends but i don’t think they think of me like that despite us speaking often and studying together. I like his girlfriend but i’m very jealous of her, she’s pretty, smart, has a nice relationship with her siblings, her family is clearly productive and have raised her well and despite her father being muslim (like me) she does not affiliate with this and has a boyfriend yet still has a loving family.
I want to cry if this was me my parents wouldn’t speak and would put major restrictions on me if they found out i was even speaking to a guy even though the whole time i made sure to set boundaries between us because i just wanted to talk to him. i love my religion and don’t want to leave it but sometimes i wish i was her i feel like this is unfair and i wish my parents would understand me or at least try to instead of always getting angry. my family is loud i am 18 and i’m always disappoting my friends because my father still tells me i cannot go to my friends birthdays or out with them. my parents shout at me all the time so to avoid this i stay out and revise all day to prevent going home.
i hate eveyhting i want to leave. It sounds like i’m ungrateful and i understand others are much worse off than me but the build up of everything makes me so sad. I miss him sm he even messaged me again a couple months after we stopped talking so we could meet up but i said no i didn’t want to but felt obliged im scared of my parents i don’t want to contradict my religion i’m just confused and sad and i’ve been stuck feeling like this for the past year and a bit

Good Friday evening to all of you here on StockMarketChat! I hope everyone on this sub made out pretty nicely in the market this past week, and are ready for the new trading week ahead. :)
Here is everything you need to know to get you ready for the trading week beginning June 5th, 2023.

Dow leaps 700 points on hot jobs report, Nasdaq notches sixth straight winning week: Live updates - (Source)

The Dow Jones Industrial Average surged Friday as traders cheered a strong jobs report and the passage of a debt ceiling bill that averts a U.S. default.
The 30-stock Dow jumped 701.19 points, or 2.12%, to end at 33,762.76 — its best day since January. The S&P 500 climbed 1.45% to close at 4,282.37. The Nasdaq Composite advanced 1.07% to 13,240.77, reaching its highest level since April 2022 during the session.
With Friday’s gains, the S&P 500 and Nasdaq finished the holiday-shortened trading week about 1.8% and 2% higher, respectively. The Dow’s Friday advance pushed it into positive territory for the week, finishing up around 2%. The Nasdaq notched its sixth straight week higher, a streak length not seen for the technology-heavy index since 2020.
Nonfarm payrolls grew much more than expected in May, rising 339,000. Economists polled by Dow Jones expected a relatively modest 190,000 increase. It marked the 29th straight month of positive job growth.
Recently strong employment data had been pressuring stocks on the notion it would keep the Federal Reserve raising interest rates. But Friday data also showed average hourly earnings rose less than economists expected year over year, while the unemployment rate was higher than anticipated.
Both data points have given investors hope that the Fed could pause its interest rate hike campaign at the policy meeting later this month, according to Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.
“The so-called Goldilocks has entered the house,” Sandven said. “Clearly, on the bullish side, there are signs that inflation is starting to wane, speculation that the Fed is going to move into pause mode, increasing the likelihood of a soft landing.”
Easing concerns around the U.S. debt ceiling also helped sentiment. The Senate passed a bill to raise the debt ceiling late Thursday night, sending the bill to President Joe Biden’s desk. That comes after the House passed the Fiscal Responsibility Act on Wednesday, just days before the June 5 deadline set by U.S. Treasury Secretary Janet Yellen.
Lululemon shares popped more than 11% on strong results and a guidance boost, while MongoDB surged 28% on a blowout forecast.

This past week saw the following moves in the S&P:

(CLICK HERE FOR THE FULL S&P TREE MAP FOR THE PAST WEEK!)

S&P Sectors for this past week:

(CLICK HERE FOR THE S&P SECTORS FOR THE PAST WEEK!)

Major Indices for this past week:

(CLICK HERE FOR THE MAJOR INDICES FOR THE PAST WEEK!)

Major Futures Markets as of Friday's close:

(CLICK HERE FOR THE MAJOR FUTURES INDICES AS OF FRIDAY!)

Economic Calendar for the Week Ahead:

(CLICK HERE FOR THE FULL ECONOMIC CALENDAR FOR THE WEEK AHEAD!)

Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close:

(CLICK HERE FOR THE CHART!)

S&P Sectors for the Past Week:

(CLICK HERE FOR THE CHART!)

Major Indices Pullback/Correction Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Major Indices Rally Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Most Anticipated Earnings Releases for this week:

(CLICK HERE FOR THE CHART!)

Here are the upcoming IPO's for this week:

(CLICK HERE FOR THE CHART!)

Friday's Stock Analyst Upgrades & Downgrades:

(CLICK HERE FOR THE CHART LINK #1!)

(CLICK HERE FOR THE CHART LINK #2!)

A Resilient Labor Market = A Resilient Economy

Another month, another employment surprise. Should we be surprised anymore?
Economists expected payrolls to grow by about 187,000 in May. That’s still a solid job growth number, but a stepdown from what we’ve seen this year through April. However, actual payroll growth beat expectations for the 14th straight month.
The economy created 339,000 jobs in May, close to double expectations. Better still, payroll growth in March and April were revised higher by a total of 93,000!

• March payrolls were revised up by 52,000, from 165,000 to 217,000
• April payroll were revised up by 41,000, from 253,000 to 294,000

(CLICK HERE FOR THE CHART!)

We’ve got two months of payroll data since the Silicon Valley Bank crisis in March, and nothing suggests weakness arising from that banking crisis.
Over the first five months of the year, the economy’s added 1.5 million jobs. That in a nutshell tells you how the economy is doing. For perspective, the average annual payroll growth between 1940 and 2022 was 1.5 million. During the last expansion, 2010-2019, average annual payroll growth was 2.2 million per year.

(CLICK HERE FOR THE CHART!)

But what about the unemployment rate?
The unemployment rate did rise from a 50-year low of 3.4% to 3.7%. This does raise some cause for concern but digging through the data suggests it may be noise more than anything else.
It probably helps to understand that the job growth and unemployment rate data come from different sources. The former comes from asking about 120,000+ businesses how many people they hired. The latter comes from asking about 60,000 households about their employment status. No surprise, the latter is noisier.
A big reason for the weak household survey (and rising unemployment rate) is that more than 400,000 people who were self-employed said they were no longer employed. As you can see in the following chart this is very noisy data, but the recent trend seems to be toward lower self-employment. It’s basically reversing the surge we saw in 2021, when self-employment surged. So, what we’re seeing now may simply be normalization of the labor market as more workers move from self-employment to W2 jobs with an employer.

(CLICK HERE FOR THE CHART!)

Also, the unemployment rate can be impacted by people leaving the labor force (technically defined as those “not looking for work”) and an aging population. I’ve discussed in prior blogs how we can get around this by looking at the employment-population ratio for prime age workers, i.e. workers aged 25-54 years. This measures the number of people working as a percent of the civilian population. Think of it as the opposite of the unemployment rate, and because we use prime age, you also get around the demographic issue.
The good news is that the prime-age employment-population ratio dropped only a tick, from 80.8% to 80.7%. This still leaves it higher than at any point between 2002 and 2022.

(CLICK HERE FOR THE CHART!)

All in all, the labor market remains strong and resilient, despite all the recession calls. Perhaps its not as strong as the headline payroll growth number of 339,000 suggests, but any number above 150,000 would be good at this point. And we’re certainly well above that.
In fact, looking at the job growth and employment-population data, this labor market is probably the strongest we’ve seen since the late 1990’s. Our view since the end of last year has been that the economy can avoid a recession this year, and nothing we’ve seen to date suggests we need to reverse that view. Far from it.

June Better in Pre-Election Years

(CLICK HERE FOR THE CHART!)

Since 1971 June has shone brighter on NASDAQ stocks as a rule ranking eighth best with an 0.8% average gain, up 29 of 52 years. This contributes to NASDAQ’s “Best 8 Months” which ends in June. Small caps also fare well in June. Russell 2000 has averaged 0.6% in June since 1979 advancing 63.6% of the time.
June ranks near the bottom on the Dow Jones Industrials just above September since 1950 with an average loss of 0.2%. S&P 500 performs similarly poorly, ranking ninth, but essentially flat (0.02% average gain).
Despite being much stronger S&P 500 pre-election year June ranks fifth best. For the rest it is just sixth best. Average monthly gains in pre-election year June range from DJIA 1.1% to a respectable 2.4% for NASDAQ. Russell 2000 has been the most consistently bullish in pre-election years, up 8 of the last 11 (72.7% of the time).

(CLICK HERE FOR THE CHART!)

The June Swoon?

Stocks did it again, as the S&P 500 gained 0.2% in the month of May, making it now 10 of the past 11 years that stocks finished green in May. Of course, it gained only 0.01% last year and only 0.25% this year, so the recent returns weren’t off the charts by any measure.
Looking specifically at this year, tech added more than 9% in May, thanks to excitement over AI and Nvidia, with communication services and consumer discretionary also in the green, while the other eight sectors were lower.
Specifically, turning to the month of June, stocks historically have hit a bit of trouble here. Since 1950, up 0.03% on average, the fourth worst month of the year. Over the past 20 years, only January and September have been worse and in the past decade, it is again the fourth worst month. The one bit of good news is during a pre-election year is it up 1.5%, the fifth-best month of the year.

(CLICK HERE FOR THE CHART!)

Here’s another chart we’ve shared before, but years that gained big in January (like 2023) tend to see some periods of consolidation in late May/early June, but eventually experience a surge higher into July. Given the flattish overall May, this could be playing out again.

(CLICK HERE FOR THE CHART!)

What if stocks were having a good year heading into June? Since 1950, if the S&P 500 was up more than 8% for the year going into June (like this year), the month of June was up an impressive 1.2% on average versus the average June return of 0.03%, while in a pre-election year the returns jumped to 1.8%. The percent of the time where returns were higher gets better as well, from 54.8% in your average June to nearly 74% if up 8% or more for the year heading into June, to 80% of the time higher if up 8% for the year in a pre-election year.

(CLICK HERE FOR THE CHART!)

Overall, it has been a very nice run for stocks this year and we remain overweight stocks in the Carson Investment Research House Views. June could potentially cause some volatility, but when all is said and done, we wouldn’t bet against more strength and higher prices in June.

NASDAQ and Russell 2000 Lead June Pre-Election Strength

Over the last 21 years, June has been a rather lackluster month. DJIA, S&P 500 and Russell 1000 have all recorded average losses in the month. Russell 2000 has fared better with a modest average gain. Historically the month has opened respectably, advancing on the first and second trading days.
From there the market then drifted sideways and lower into negative territory just ahead of mid-month. Here the market rallied to create a nice mid-month bulge that quickly evaporated and returned to losses. The brisk, post, mid-month drop is typically followed by a month end rally led by technology and small caps.
Historical performance in pre-election years has been much stronger with all five indexes finishing with average gains. June’s overall pattern in pre-election is similar to the last 21-years pattern with a brief, shallow pullback after a solid start.
In pre-election years the mid-month rally has been much more robust beginning around the sixth trading day and lasting until the fifteenth. Followed by another modest retreat and rally into the end of Q2.

(CLICK HERE FOR THE CHART!)

May and YTD 2023 Asset Class Performance

May 2023 is now behind us, and below is a look at how various asset classes performed during the month using US-listed exchange-traded products as proxies. We also include YTD and YoY total returns.
May was a month of divergence where Tech/AI soared, and the rest of the market fell. Notably, the Nasdaq 100 ETF (QQQ) gained 7.88% in May while the Dow Jones Dividend ETF (DVY) fell 7.7%. That's a 15 percentage-point spread!
At the sector level, it was a similar story. While the Tech sector (XLK) rose 8.9%, sectors like Energy (XLE), Consumer Staples (XLP), Materials (XLB), and Utilities (XLU) fell more than 5%. In total, 8 of 11 sectors were in the red for the month.
Outside the US, we saw pullbacks in most areas of the world other than Brazil, India, and Japan. China, Hong Kong, France, Canada, Italy, Spain, and the UK all fell more than 5%.
All of the commodity-related ETFs/ETNs were in the red for May, with oil (USO) and natural gas (UNG) falling the most at more than 10% each.
Finally, fixed-income ETFs also fell in May as interest rates bounced back. The aggregate bond market ETF (AGG) was down 1.14% in May, leaving it up just 2.6% YTD and down 2.2% year-over-year.

(CLICK HERE FOR THE CHART!)

How Worried Should We Be About Consumer Debt?

A very common question we get these days is whether we’re concerned about the massive increase in consumer debt.
Short answer: No. Well, not yet anyway. But let’s walk through it in 6 charts.
The New York Federal Reserve (NY Fed) releases a quarterly report on household debt and credit, and the latest one that was released last week came with the headline:
“Household Debt Hits $17.05 Trillion in First Quarter.” But let’s look at the details. Household debt increased by $148 billion in Q1. That translates to a 0.9% increase, which is the slowest quarterly increase in two years. Most of the increase in debt was from mortgage originations ($121 billion) – mortgage debt makes up $12 trillion of the total $17 trillion in debt. The rest was auto loan and student loan balances.
Here’s something interesting: credit card balances were flat in Q1, at $986 billion. The fact that overall balances are higher than where they were in 2019 ($927 billion) should not be surprising given we just experienced a lot of inflation. Prices rose at the fastest pace in 40 years, and so you should expect card balances to increase. However, incomes rose as well.

(CLICK HERE FOR THE CHART!)

When you think debt, the key question is whether households are able to service that debt. A good measure of that is to look at debt service costs as a percent of disposable income. As of Q4 2022, that’s at 9.7%, slightly lower than what it was before the pandemic and well below the historical average.

(CLICK HERE FOR THE CHART!)

There’s even better news: disposable income grew 2.9% in the first quarter of 2023. Significantly higher than the 0.9% increase in total household debt, let alone interest costs!
Part of that includes the large boost to social security income due to inflation adjustments in January. Also, tax brackets were adjusted higher, resulting in more money in household wallets.
But even if you exclude these one-off increases, disposable income growth has been strong between February and April, rising at a 5% annualized pace. In fact, employee compensation by itself has risen at a 3.9% annualized pace over the past three months. Meanwhile, inflation is running just about 3% – which means households are seeing real income gains (adjusted for inflation).

(CLICK HERE FOR THE CHART!)

This is why consumers don’t feel the need to borrow to the extent they did before the pandemic. Credit utilization rates measure credit card balances as a percent of available credit. As you can see in the following chart, utilization rates for both credit cards and home equity lines of credit are well below pre-pandemic averages.

(CLICK HERE FOR THE CHART!)

Lack of stress showing in delinquency data as well
Another way to look for signs of consumer stress is to look at the debt delinquency data. As of the first quarter, the NY Fed survey showed that the percent of loan balances that were more than 90 days delinquent was stable around 1.5%. That’s down from 1.9% a year ago, and quite a bit below the 3% average in 2019.

(CLICK HERE FOR THE CHART!)

Even third-party collections are at record lows, with just over 5% of consumers having collections against them as of the first quarter. This is down from 6% a year ago and below the 2019 average of 9.2%. The average collection amount per person is $1,316, which is lower than the $1,452 average in late 2019. This is surprising because just with inflation you’d have thought the amount would be higher.

(CLICK HERE FOR THE CHART!)

All in all, the data on consumer finances is not showing much cause for concern. So, count us in the “not worried” camp. At least, not yet.

Some Good Inflation News

While the market prices in a much higher likelihood of a rate hike at the June meeting, there was actually some decent news on the inflation front today. Starting with the Conference Board's Consumer Confidence report, in this month's update, the inflation expectations component fell to 6.1% from a peak of 7.9% fifteen months ago in March 2022 (first time reading touched 7.9%). Looking at the chart below, this reading was also at 6.1% fifteen months before that first peak. In other words, for all the talk about how inflation has been stickier, the pace of decline in this indicator on the way down has been the same as the pace of increase on the way up.

(CLICK HERE FOR THE CHART!)

Another notable report was today's release of the Dallas Fed Manufacturing report. The Prices Paid component of that report showed a decline from 19.5 down to 13.8 which was the lowest reading since July 2020. For the month of May, two of the five components (Empire and Philadelphia) showed modest m/m increases from multi-month lows, and three showed significant declines to multi-month lows. The chart below shows a composite of the Prices Paid component using the z-scores for each of the five individual components going back to 2010. The peak for this component was 19 months ago in November 2021. Unlike the inflation expectations of the Conference Board survey, this reading hasn't declined quite as fast as it increased in the 19 months leading up to the peak, but at -0.2, it is still below its historical average dating back to 2010 and back down to levels it was at right before the COVID shock hit the economy in early 2020.

(CLICK HERE FOR THE CHART!)

Home Prices Bounce in Hardest Hit Areas

March data on home prices across the country were released today with updated S&P CoreLogic Case Shiller numbers. Case Shiller home prices had been falling rapidly in many of the twenty cities tracked, but in March we actually saw a pretty big month-over-month bounce in some of the hardest-hit areas like San Diego, San Francisco, LA, Denver, and Phoenix. Some cities still saw declines, however. Las Vegas saw a m/m drop of 0.93%, while Miami fell 0.41%, and Seattle fell 0.28%.
On a year-over-year basis, Miami is still up the most with a gain of 10.86%. As shown in the table below, Miami home prices are up 59.87% from pre-COVID levels in February 2020, and they're only down 2.9% from post-COVID highs. Only Tampa is up more than Miami from pre-COVID levels (+61.04%), but Tampa prices are down more from their post-COVID highs (-4.70%) than Miami (-2.90%).
Four cities are down more than 10% from their post-COVID highs: San Diego (-10.12%), Las Vegas (-10.95%), San Francisco (-16.35%), and Seattle (-16.50%). New York is down the least from post-COVID highs of any city tracked at just -2.9%.

(CLICK HERE FOR THE CHART!)

(CLICK HERE FOR THE CHART!)

(CLICK HERE FOR THE CHART!)

Below we include charts of home price levels across all 20 cities tracked by Case Shiller along with the three composite indices. We've included a vertical red line on each chart to highlight pre-COVID levels. When looking through the charts, you can see this month's small bounce back in most cities after a 6-9 month pullback in prices from peaks seen early last year.

(CLICK HERE FOR THE CHART!)

(CLICK HERE FOR THE CHART!)

(CLICK HERE FOR THE CHART!)

(CLICK HERE FOR THE CHART!)

STOCK MARKET VIDEO: Stock Market Analysis Video for Week Ending June 5th, 2023

(CLICK HERE FOR THE YOUTUBE VIDEO!)

(VIDEO NOT YET POSTED.)

STOCK MARKET VIDEO: ShadowTrader Video Weekly 6/2/23

([CLICK HERE FOR THE YOUTUBE VIDEO!]())

(VIDEO NOT YET POSTED.)
Here is the list of notable tickers reporting earnings in this upcoming trading week ahead-

($NIO $GTLB $GME $CIEN $DOCU $SAIC $ASO $SJM $CXM $THO $OLLI $MOMO $CBRL $FERG $TTC $HQY $CPB $PLAY $QMCO $FCEL $LOVE $ABM $CNM $HTOO $TCOM $JOAN $UNFI $SFIX $CHS $GIII $SIG $SMAR $PL $ZFOX $HYZN $VRA $CASY $MTN $SMTC $ALYA $DBI $SCWX $JILL $OESX $BSE $REVG $VBNK $VRNT $RENT $HCP)

(CLICK HERE FOR NEXT WEEK'S MOST NOTABLE EARNINGS RELEASES!)

(CLICK HERE FOR NEXT WEEK'S HIGHEST VOLATILITY EARNINGS RELEASES!)

([CLICK HERE FOR MONDAY'S PRE-MARKET NOTABLE EARNINGS RELEASES!]())

(N/A.)

Here is the full list of companies report earnings for this upcoming trading week ahead which includes the date/time of release & consensus estimates courtesy of Earnings Whispers:

Monday 6.5.23 Before Market Open:

(CLICK HERE FOR MONDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Monday 6.5.23 After Market Close:

(CLICK HERE FOR MONDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Tuesday 6.6.23 Before Market Open:

(CLICK HERE FOR TUESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Tuesday 6.6.23 After Market Close:

(CLICK HERE FOR TUESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Wednesday 6.7.23 Before Market Open:

(CLICK HERE FOR WEDNESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Wednesday 6.7.23 After Market Close:

(CLICK HERE FOR WEDNESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Thursday 6.8.23 Before Market Open:

(CLICK HERE FOR THURSDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Thursday 6.8.23 After Market Close:

(CLICK HERE FOR THURSDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Friday 6.9.23 Before Market Open:

(CLICK HERE FOR FRIDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES LINK!)

Friday 6.9.23 After Market Close:

([CLICK HERE FOR FRIDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!]())

(NONE.)

(T.B.A. THIS WEEKEND.)

(T.B.A. THIS WEEKEND.) (T.B.A. THIS WEEKEND.).

(CLICK HERE FOR THE CHART!)

DISCUSS!

What are you all watching for in this upcoming trading week?

Join the Official Reddit Stock Market Chat Discord Server HERE!

I hope you all have a wonderful weekend and a great new trading week ahead StockMarketChat. :)

Good Friday evening to all of you here on WallStreetStockMarket! I hope everyone on this sub made out pretty nicely in the market this past week, and are ready for the new trading week ahead. :)
Here is everything you need to know to get you ready for the trading week beginning June 5th, 2023.

Dow leaps 700 points on hot jobs report, Nasdaq notches sixth straight winning week: Live updates - (Source)

The Dow Jones Industrial Average surged Friday as traders cheered a strong jobs report and the passage of a debt ceiling bill that averts a U.S. default.
The 30-stock Dow jumped 701.19 points, or 2.12%, to end at 33,762.76 — its best day since January. The S&P 500 climbed 1.45% to close at 4,282.37. The Nasdaq Composite advanced 1.07% to 13,240.77, reaching its highest level since April 2022 during the session.
With Friday’s gains, the S&P 500 and Nasdaq finished the holiday-shortened trading week about 1.8% and 2% higher, respectively. The Dow’s Friday advance pushed it into positive territory for the week, finishing up around 2%. The Nasdaq notched its sixth straight week higher, a streak length not seen for the technology-heavy index since 2020.
Nonfarm payrolls grew much more than expected in May, rising 339,000. Economists polled by Dow Jones expected a relatively modest 190,000 increase. It marked the 29th straight month of positive job growth.
Recently strong employment data had been pressuring stocks on the notion it would keep the Federal Reserve raising interest rates. But Friday data also showed average hourly earnings rose less than economists expected year over year, while the unemployment rate was higher than anticipated.
Both data points have given investors hope that the Fed could pause its interest rate hike campaign at the policy meeting later this month, according to Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.
“The so-called Goldilocks has entered the house,” Sandven said. “Clearly, on the bullish side, there are signs that inflation is starting to wane, speculation that the Fed is going to move into pause mode, increasing the likelihood of a soft landing.”
Easing concerns around the U.S. debt ceiling also helped sentiment. The Senate passed a bill to raise the debt ceiling late Thursday night, sending the bill to President Joe Biden’s desk. That comes after the House passed the Fiscal Responsibility Act on Wednesday, just days before the June 5 deadline set by U.S. Treasury Secretary Janet Yellen.
Lululemon shares popped more than 11% on strong results and a guidance boost, while MongoDB surged 28% on a blowout forecast.

This past week saw the following moves in the S&P:

(CLICK HERE FOR THE FULL S&P TREE MAP FOR THE PAST WEEK!)

S&P Sectors for this past week:

(CLICK HERE FOR THE S&P SECTORS FOR THE PAST WEEK!)

Major Indices for this past week:

(CLICK HERE FOR THE MAJOR INDICES FOR THE PAST WEEK!)

Major Futures Markets as of Friday's close:

(CLICK HERE FOR THE MAJOR FUTURES INDICES AS OF FRIDAY!)

Economic Calendar for the Week Ahead:

(CLICK HERE FOR THE FULL ECONOMIC CALENDAR FOR THE WEEK AHEAD!)

Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close:

(CLICK HERE FOR THE CHART!)

S&P Sectors for the Past Week:

(CLICK HERE FOR THE CHART!)

Major Indices Pullback/Correction Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Major Indices Rally Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Most Anticipated Earnings Releases for this week:

(CLICK HERE FOR THE CHART!)

Here are the upcoming IPO's for this week:

(CLICK HERE FOR THE CHART!)

Friday's Stock Analyst Upgrades & Downgrades:

(CLICK HERE FOR THE CHART LINK #1!)

(CLICK HERE FOR THE CHART LINK #2!)

A Resilient Labor Market = A Resilient Economy

Another month, another employment surprise. Should we be surprised anymore?
Economists expected payrolls to grow by about 187,000 in May. That’s still a solid job growth number, but a stepdown from what we’ve seen this year through April. However, actual payroll growth beat expectations for the 14th straight month.
The economy created 339,000 jobs in May, close to double expectations. Better still, payroll growth in March and April were revised higher by a total of 93,000!

• March payrolls were revised up by 52,000, from 165,000 to 217,000
• April payroll were revised up by 41,000, from 253,000 to 294,000

(CLICK HERE FOR THE CHART!)

We’ve got two months of payroll data since the Silicon Valley Bank crisis in March, and nothing suggests weakness arising from that banking crisis.
Over the first five months of the year, the economy’s added 1.5 million jobs. That in a nutshell tells you how the economy is doing. For perspective, the average annual payroll growth between 1940 and 2022 was 1.5 million. During the last expansion, 2010-2019, average annual payroll growth was 2.2 million per year.

(CLICK HERE FOR THE CHART!)

But what about the unemployment rate?
The unemployment rate did rise from a 50-year low of 3.4% to 3.7%. This does raise some cause for concern but digging through the data suggests it may be noise more than anything else.
It probably helps to understand that the job growth and unemployment rate data come from different sources. The former comes from asking about 120,000+ businesses how many people they hired. The latter comes from asking about 60,000 households about their employment status. No surprise, the latter is noisier.
A big reason for the weak household survey (and rising unemployment rate) is that more than 400,000 people who were self-employed said they were no longer employed. As you can see in the following chart this is very noisy data, but the recent trend seems to be toward lower self-employment. It’s basically reversing the surge we saw in 2021, when self-employment surged. So, what we’re seeing now may simply be normalization of the labor market as more workers move from self-employment to W2 jobs with an employer.

(CLICK HERE FOR THE CHART!)

Also, the unemployment rate can be impacted by people leaving the labor force (technically defined as those “not looking for work”) and an aging population. I’ve discussed in prior blogs how we can get around this by looking at the employment-population ratio for prime age workers, i.e. workers aged 25-54 years. This measures the number of people working as a percent of the civilian population. Think of it as the opposite of the unemployment rate, and because we use prime age, you also get around the demographic issue.
The good news is that the prime-age employment-population ratio dropped only a tick, from 80.8% to 80.7%. This still leaves it higher than at any point between 2002 and 2022.

(CLICK HERE FOR THE CHART!)

All in all, the labor market remains strong and resilient, despite all the recession calls. Perhaps its not as strong as the headline payroll growth number of 339,000 suggests, but any number above 150,000 would be good at this point. And we’re certainly well above that.
In fact, looking at the job growth and employment-population data, this labor market is probably the strongest we’ve seen since the late 1990’s. Our view since the end of last year has been that the economy can avoid a recession this year, and nothing we’ve seen to date suggests we need to reverse that view. Far from it.

June Better in Pre-Election Years

(CLICK HERE FOR THE CHART!)

Since 1971 June has shone brighter on NASDAQ stocks as a rule ranking eighth best with an 0.8% average gain, up 29 of 52 years. This contributes to NASDAQ’s “Best 8 Months” which ends in June. Small caps also fare well in June. Russell 2000 has averaged 0.6% in June since 1979 advancing 63.6% of the time.
June ranks near the bottom on the Dow Jones Industrials just above September since 1950 with an average loss of 0.2%. S&P 500 performs similarly poorly, ranking ninth, but essentially flat (0.02% average gain).
Despite being much stronger S&P 500 pre-election year June ranks fifth best. For the rest it is just sixth best. Average monthly gains in pre-election year June range from DJIA 1.1% to a respectable 2.4% for NASDAQ. Russell 2000 has been the most consistently bullish in pre-election years, up 8 of the last 11 (72.7% of the time).

(CLICK HERE FOR THE CHART!)

The June Swoon?

Stocks did it again, as the S&P 500 gained 0.2% in the month of May, making it now 10 of the past 11 years that stocks finished green in May. Of course, it gained only 0.01% last year and only 0.25% this year, so the recent returns weren’t off the charts by any measure.
Looking specifically at this year, tech added more than 9% in May, thanks to excitement over AI and Nvidia, with communication services and consumer discretionary also in the green, while the other eight sectors were lower.
Specifically, turning to the month of June, stocks historically have hit a bit of trouble here. Since 1950, up 0.03% on average, the fourth worst month of the year. Over the past 20 years, only January and September have been worse and in the past decade, it is again the fourth worst month. The one bit of good news is during a pre-election year is it up 1.5%, the fifth-best month of the year.

(CLICK HERE FOR THE CHART!)

Here’s another chart we’ve shared before, but years that gained big in January (like 2023) tend to see some periods of consolidation in late May/early June, but eventually experience a surge higher into July. Given the flattish overall May, this could be playing out again.

(CLICK HERE FOR THE CHART!)

What if stocks were having a good year heading into June? Since 1950, if the S&P 500 was up more than 8% for the year going into June (like this year), the month of June was up an impressive 1.2% on average versus the average June return of 0.03%, while in a pre-election year the returns jumped to 1.8%. The percent of the time where returns were higher gets better as well, from 54.8% in your average June to nearly 74% if up 8% or more for the year heading into June, to 80% of the time higher if up 8% for the year in a pre-election year.

(CLICK HERE FOR THE CHART!)

Overall, it has been a very nice run for stocks this year and we remain overweight stocks in the Carson Investment Research House Views. June could potentially cause some volatility, but when all is said and done, we wouldn’t bet against more strength and higher prices in June.

NASDAQ and Russell 2000 Lead June Pre-Election Strength

Over the last 21 years, June has been a rather lackluster month. DJIA, S&P 500 and Russell 1000 have all recorded average losses in the month. Russell 2000 has fared better with a modest average gain. Historically the month has opened respectably, advancing on the first and second trading days.
From there the market then drifted sideways and lower into negative territory just ahead of mid-month. Here the market rallied to create a nice mid-month bulge that quickly evaporated and returned to losses. The brisk, post, mid-month drop is typically followed by a month end rally led by technology and small caps.
Historical performance in pre-election years has been much stronger with all five indexes finishing with average gains. June’s overall pattern in pre-election is similar to the last 21-years pattern with a brief, shallow pullback after a solid start.
In pre-election years the mid-month rally has been much more robust beginning around the sixth trading day and lasting until the fifteenth. Followed by another modest retreat and rally into the end of Q2.

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May and YTD 2023 Asset Class Performance

May 2023 is now behind us, and below is a look at how various asset classes performed during the month using US-listed exchange-traded products as proxies. We also include YTD and YoY total returns.
May was a month of divergence where Tech/AI soared, and the rest of the market fell. Notably, the Nasdaq 100 ETF (QQQ) gained 7.88% in May while the Dow Jones Dividend ETF (DVY) fell 7.7%. That's a 15 percentage-point spread!
At the sector level, it was a similar story. While the Tech sector (XLK) rose 8.9%, sectors like Energy (XLE), Consumer Staples (XLP), Materials (XLB), and Utilities (XLU) fell more than 5%. In total, 8 of 11 sectors were in the red for the month.
Outside the US, we saw pullbacks in most areas of the world other than Brazil, India, and Japan. China, Hong Kong, France, Canada, Italy, Spain, and the UK all fell more than 5%.
All of the commodity-related ETFs/ETNs were in the red for May, with oil (USO) and natural gas (UNG) falling the most at more than 10% each.
Finally, fixed-income ETFs also fell in May as interest rates bounced back. The aggregate bond market ETF (AGG) was down 1.14% in May, leaving it up just 2.6% YTD and down 2.2% year-over-year.

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How Worried Should We Be About Consumer Debt?

A very common question we get these days is whether we’re concerned about the massive increase in consumer debt.
Short answer: No. Well, not yet anyway. But let’s walk through it in 6 charts.
The New York Federal Reserve (NY Fed) releases a quarterly report on household debt and credit, and the latest one that was released last week came with the headline:
“Household Debt Hits $17.05 Trillion in First Quarter.” But let’s look at the details. Household debt increased by $148 billion in Q1. That translates to a 0.9% increase, which is the slowest quarterly increase in two years. Most of the increase in debt was from mortgage originations ($121 billion) – mortgage debt makes up $12 trillion of the total $17 trillion in debt. The rest was auto loan and student loan balances.
Here’s something interesting: credit card balances were flat in Q1, at $986 billion. The fact that overall balances are higher than where they were in 2019 ($927 billion) should not be surprising given we just experienced a lot of inflation. Prices rose at the fastest pace in 40 years, and so you should expect card balances to increase. However, incomes rose as well.

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When you think debt, the key question is whether households are able to service that debt. A good measure of that is to look at debt service costs as a percent of disposable income. As of Q4 2022, that’s at 9.7%, slightly lower than what it was before the pandemic and well below the historical average.

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There’s even better news: disposable income grew 2.9% in the first quarter of 2023. Significantly higher than the 0.9% increase in total household debt, let alone interest costs!
Part of that includes the large boost to social security income due to inflation adjustments in January. Also, tax brackets were adjusted higher, resulting in more money in household wallets.
But even if you exclude these one-off increases, disposable income growth has been strong between February and April, rising at a 5% annualized pace. In fact, employee compensation by itself has risen at a 3.9% annualized pace over the past three months. Meanwhile, inflation is running just about 3% – which means households are seeing real income gains (adjusted for inflation).

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This is why consumers don’t feel the need to borrow to the extent they did before the pandemic. Credit utilization rates measure credit card balances as a percent of available credit. As you can see in the following chart, utilization rates for both credit cards and home equity lines of credit are well below pre-pandemic averages.

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Lack of stress showing in delinquency data as well
Another way to look for signs of consumer stress is to look at the debt delinquency data. As of the first quarter, the NY Fed survey showed that the percent of loan balances that were more than 90 days delinquent was stable around 1.5%. That’s down from 1.9% a year ago, and quite a bit below the 3% average in 2019.

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Even third-party collections are at record lows, with just over 5% of consumers having collections against them as of the first quarter. This is down from 6% a year ago and below the 2019 average of 9.2%. The average collection amount per person is $1,316, which is lower than the $1,452 average in late 2019. This is surprising because just with inflation you’d have thought the amount would be higher.

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All in all, the data on consumer finances is not showing much cause for concern. So, count us in the “not worried” camp. At least, not yet.

Some Good Inflation News

While the market prices in a much higher likelihood of a rate hike at the June meeting, there was actually some decent news on the inflation front today. Starting with the Conference Board's Consumer Confidence report, in this month's update, the inflation expectations component fell to 6.1% from a peak of 7.9% fifteen months ago in March 2022 (first time reading touched 7.9%). Looking at the chart below, this reading was also at 6.1% fifteen months before that first peak. In other words, for all the talk about how inflation has been stickier, the pace of decline in this indicator on the way down has been the same as the pace of increase on the way up.

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Another notable report was today's release of the Dallas Fed Manufacturing report. The Prices Paid component of that report showed a decline from 19.5 down to 13.8 which was the lowest reading since July 2020. For the month of May, two of the five components (Empire and Philadelphia) showed modest m/m increases from multi-month lows, and three showed significant declines to multi-month lows. The chart below shows a composite of the Prices Paid component using the z-scores for each of the five individual components going back to 2010. The peak for this component was 19 months ago in November 2021. Unlike the inflation expectations of the Conference Board survey, this reading hasn't declined quite as fast as it increased in the 19 months leading up to the peak, but at -0.2, it is still below its historical average dating back to 2010 and back down to levels it was at right before the COVID shock hit the economy in early 2020.

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Home Prices Bounce in Hardest Hit Areas

March data on home prices across the country were released today with updated S&P CoreLogic Case Shiller numbers. Case Shiller home prices had been falling rapidly in many of the twenty cities tracked, but in March we actually saw a pretty big month-over-month bounce in some of the hardest-hit areas like San Diego, San Francisco, LA, Denver, and Phoenix. Some cities still saw declines, however. Las Vegas saw a m/m drop of 0.93%, while Miami fell 0.41%, and Seattle fell 0.28%.
On a year-over-year basis, Miami is still up the most with a gain of 10.86%. As shown in the table below, Miami home prices are up 59.87% from pre-COVID levels in February 2020, and they're only down 2.9% from post-COVID highs. Only Tampa is up more than Miami from pre-COVID levels (+61.04%), but Tampa prices are down more from their post-COVID highs (-4.70%) than Miami (-2.90%).
Four cities are down more than 10% from their post-COVID highs: San Diego (-10.12%), Las Vegas (-10.95%), San Francisco (-16.35%), and Seattle (-16.50%). New York is down the least from post-COVID highs of any city tracked at just -2.9%.

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Below we include charts of home price levels across all 20 cities tracked by Case Shiller along with the three composite indices. We've included a vertical red line on each chart to highlight pre-COVID levels. When looking through the charts, you can see this month's small bounce back in most cities after a 6-9 month pullback in prices from peaks seen early last year.

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STOCK MARKET VIDEO: Stock Market Analysis Video for Week Ending June 5th, 2023

(CLICK HERE FOR THE YOUTUBE VIDEO!)

(VIDEO NOT YET POSTED.)

STOCK MARKET VIDEO: ShadowTrader Video Weekly 6/2/23

([CLICK HERE FOR THE YOUTUBE VIDEO!]())

(VIDEO NOT YET POSTED.)
Here is the list of notable tickers reporting earnings in this upcoming trading week ahead-

($NIO $GTLB $GME $CIEN $DOCU $SAIC $ASO $SJM $CXM $THO $OLLI $MOMO $CBRL $FERG $TTC $HQY $CPB $PLAY $QMCO $FCEL $LOVE $ABM $CNM $HTOO $TCOM $JOAN $UNFI $SFIX $CHS $GIII $SIG $SMAR $PL $ZFOX $HYZN $VRA $CASY $MTN $SMTC $ALYA $DBI $SCWX $JILL $OESX $BSE $REVG $VBNK $VRNT $RENT $HCP)

(CLICK HERE FOR NEXT WEEK'S MOST NOTABLE EARNINGS RELEASES!)

(CLICK HERE FOR NEXT WEEK'S HIGHEST VOLATILITY EARNINGS RELEASES!)

([CLICK HERE FOR MONDAY'S PRE-MARKET NOTABLE EARNINGS RELEASES!]())

(N/A.)

Here is the full list of companies report earnings for this upcoming trading week ahead which includes the date/time of release & consensus estimates courtesy of Earnings Whispers:

Monday 6.5.23 Before Market Open:

(CLICK HERE FOR MONDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Monday 6.5.23 After Market Close:

(CLICK HERE FOR MONDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Tuesday 6.6.23 Before Market Open:

(CLICK HERE FOR TUESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Tuesday 6.6.23 After Market Close:

(CLICK HERE FOR TUESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Wednesday 6.7.23 Before Market Open:

(CLICK HERE FOR WEDNESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Wednesday 6.7.23 After Market Close:

(CLICK HERE FOR WEDNESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Thursday 6.8.23 Before Market Open:

(CLICK HERE FOR THURSDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Thursday 6.8.23 After Market Close:

(CLICK HERE FOR THURSDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Friday 6.9.23 Before Market Open:

(CLICK HERE FOR FRIDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES LINK!)

Friday 6.9.23 After Market Close:

([CLICK HERE FOR FRIDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!]())

(NONE.)

(T.B.A. THIS WEEKEND.)

(T.B.A. THIS WEEKEND.) (T.B.A. THIS WEEKEND.).

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DISCUSS!

What are you all watching for in this upcoming trading week?

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I hope you all have a wonderful weekend and a great new trading week ahead WallStreetStockMarket. :)