 The following is a presentation of TFNN. The morning market kickoff with your host, Tommy O'Brien. Good Monday morning, everybody. I'm Tommy O'Brien, coming to you live from TFNN. Just after 9 a.m. Eastern time, Monday morning, we got about 24 minutes to go until the start of trading. You talk about some volatility in the overnight session, folks. We put it on a five-minute bar. Let's back it up for a moment. Let's start off on Friday's low. You talk about an acceleration, man. Coming into my program, Friday, folks, we were 145 S&P points lower. Now, we got a pop coming into 9 a.m. at 36.43. By the time the market opened, we're at about 36.65. You accelerated higher throughout most of the day. You did get a pullback. That pullback was pretty decent, man. These volatility moves, these volatile moves that are happening in both directions, almost dwarfing some of the moves that we've had, it all seemed like roses on Friday to the upside. It was, folks, but, boy, the moves in both directions, because of how large the overall moves are, you're talking about a move on Friday. Did you know that we traded down 46 S&P points at one point? Did you know that we traded down 1.2% at some point intraday during the day on Friday? Maybe you did if you were following it closely enough, but, boy, it was quite a day to the upside. Overnight, we just got a move of about 80 points in terms of 38.13 was the high last night. Quite a pop. Look at the move that we had right out of the gate. You opened at 37.70, you trade up 43 S&P points, but from there, you trade down to 37.40, talking about 73 points to be exact, and we got back above that area at 38.00 just as recently as about an hour ago at 7.48 this morning. Right now, we're positive by 20 points. We have a lot going on, whether it's in currencies, whether it's over in China, as Xi locks it down big time, and Chinese stocks trade lower in pretty dramatic fashion, especially Hong Kong. We look over to the NASDAQ. You talk about volatility, man. Last night, 11,530. You trade down to 11,283, you're talking about basically 250 points. That's 2% folks, from highs to lows already overnight. Dow is up 212 points. There's some volatility for you, up to almost 31,500 overnight. Russell's positive by 10. Bitcoin, 19,335, not quite at 20,000 just yet. Crude with volatility continuing right now. We were last night on futures, Crude was nearing 86 this morning. We got an 82 handle. We were just at that level, yeah, coming into it. Yes, five minutes before 9 a.m., we had an 82 handle, Crude just spiked more than a dollar in the last nine minutes, man. You talk about volatility and gold with some action today. We got some currency action in a big way. Gold up to 16.75, we're trading at 16.51, we're as low as 16.25 on Friday morning. Bonds and bonds, the volatility continues, folks, pretty remarkable where we are from where we were Friday, 108.26, right? You almost traded up three full points, no, two full points, excuse me, to 110.15, oh, I may sneeze, excuse me, oh, excuse me, okay. I think it's only one. We may get two, little allergies in the air. Yes, so you get the 10-year trading up almost two full points. We're sitting basically at about 110 right now on the 10-year, but boy, it was quite a sell-off to 108.26, and let's jump over to the VIX before we jump over to currencies. Volatility index as high as 31 overnight right now, we're actually going to open positive 46 as we have the market up, what, what's the S&P up right now? S&P's up 2.30% and we have an elevated VIX. Watch out for that, folks. Where's the risk reward in this market? We really going to make it back to higher prices, talking about $3900, maybe even $4000. Is there an equal risk that we're going back to $4000 as there is that we're going to $3600? I don't know, folks. It feels like the Fed's going to be higher for longer, man, to get a hold of this inflation. Every time that we get this market optimism, the Fed seems to slap things back down and guess what, we're just out from a Fed meeting next week as they talk about whether they'll be hiking and then we'll hear what the Chairman has to say at the press conference. So be careful at these levels right now. You can hear a lot of speak about everything. We're trading at $3800, folks, we're at $3500, okay? We are 300 points higher from that. That's about an 8% acceleration from where we were trading just 11 days ago. So even if there's some optimism that the Fed may pause, we're 8% above what we were on those numbers. And let's jump over to the currency action. Dollar index will kick things off. Dollar index, let's go 15 minutes first. There's your sell-off on Friday, man. We had some action in the yen in a big way. We'll pull up the yen in a moment. 112.29, all things considered, okay, still well within the channel line that we've been in for the better part of this year on the dollar index. We jump over to the euro. Now, the euro actually breaking out a little bit. We've been talking about this channel line for a while. We're either breaking out or we're testing the upper boundary of that euro right now. The euro at 98.3, we're as low as 95. When things really got out of whack, we jump over to the pound. Looks like Boris is out probably as they dwindle down the new prime minister prospects that are out there. The euro right now sitting at about 113 off of the lows as well. And we got to jump over to the yen, man. How about it? You talk about some volatility, man. Friday, we got some type of intervention going on, man. As you had the yen go from 1452, the Bank of Japan steps in to 145. This morning though, we're back to 149, folks. Okay, 149 in context of the yen is just where this thing was at basically six days ago. And we had an intervention, right? It was actually where it was five days ago. What is the 19th? Last Wednesday. So we get an intervention to pull us back, but there is no pause in the currency markets with the type of money and flow with the type of yield that is available in the U.S. versus other currencies, particularly the weakest of them all, it seems right now, the yen. As they just can't step out of the way, man, we're still pushing 150 this morning after that volatility. And boy, you talk about some volatility, folks. I mean, putting things back all this year, that's one of the most volatile bars we've had out there. I'm not even sure that that one is a real print on the 13th. Maybe it is from 145 down to about 137. Nonetheless, we're pushing 149.15 this morning on the yen. That was a lot of the currency action on Friday, but there's been quite a recoil in those currency markets, especially the same thing, right? We talked about the yields. You jump over to the yields right now. We'll jump to the 10-year. We're already back to 109.27. In normal times, folks, that's given up half a point. I mean, we just gave up, look at the trend from 7.30 a.m. this morning. We're down what, 15 ticks? Half a point from where we were just an hour and a half ago, challenging the areas of about 5.30 in the morning this morning. Okay. Jumping over to the headlines, and yeah, GE's power grab spurs historic market route as foreigners flee. So Chinese stocks down big, Hong Kong down big, the Hang Seng plunge 7.3 percent. We're showing after any Communist Party Congress since the inception of the index in 1994, the one fell as much as 0.6 percent, weakest since January of 2008 going on. Be careful in China, man, okay? They got like a 100-year plan, and it does not involve stock prices in the next 12 months. That's for sure. The market's concerned that with so many GE supporters elected, okay, he's got everybody under his control over there, even more so now than ever, which is surprising considering he's had it locked down for so long. The market's concerned that with so many GE supporters elected, there'll be unfettered ability to enact policies that are not market-friendly, and that is now cemented. That's the head of Asian Research at United First Partners, not familiar, but nonetheless. And yeah, I mean, they're talking about the policies that he's had in there, folks. COVID-zero, stuff like that, that is just cramming their economy in a big way, and guess what? No one's going to step in the way of what he's doing right now, and the market react in. We'll talk a little bit more when we get back, folks. Stay tuned. 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We have the S&P negative, positive by 16 points right now. NASDAQ, though, we're giving back some of those gains. NASDAQ barely in the green by about three points. The Dow up 183, the Russell up by eight right now, jumping back to the China story over there. Foreigners sold about $2.5 billion of mainland shares via trading links with Hong Kong on Monday, a record since data going back to 2016. Foreign investors sold most Chinese A shares via the trading links on Monday, going back to that level, folks. That's data going back. And look at that acceleration. I'm surprised it took that long, man. Who is surprised by what's going on there? But I guess people in the know from the reaction in the market, folks, would say that it's as bad as it's ever been. And if you think about how this could impact even the globe right now, because I don't understand how the zero COVID policy goes away in the next decade or something, and I'm slightly exaggerating, but not really. How does that end if they keep locking down cities? There are going to be outbreaks of COVID, man. We all know that. So I don't know how that ends, but guess what? He's got mass control right now of China. And that could have an impact in a big way. The market situation currently might be the worst I've even seen in a career. Sentiment is even worse than the 2008 global financial crisis. And yeah, that's Harris Wan, one. Vice President of IFAS Global Markets. Be careful. You jump to a chart like Alibaba, for instance. Yeah, say goodbye to $72. We're going to open down more than 10% for Alibaba, man. And you take a look at the daily. Let's go back to the weekly. This thing wasn't a downtrend show for some time, broke out of it. But guess what, man? We came into Friday at lows. Yeah, people were not fooled in terms of expecting the worst, probably. You get the worst in terms of consolidating things. And Alibaba is going to open at $64 down from $320. Let's back this up even further, man. We're breaking crazy lows. $64. I mean, you're pushing September 2015 lows on these Chinese stocks, man. So she just might be ready to lock it down and start war. And we all hope not. But the market's saying some pretty dire stuff over there, man. And Taiwan, unfortunately, is at some point going to come to a head. There's no denying that. What's going on over there, the clamp that he has, and how crucial that Taiwan is to the semiconductor industry across the globe? Unfortunately, it's going to become a point, man. Things not looking good in a big way. So I would stay away from those Chinese stocks. We see what happens to the Russian stock market, folks. And don't think that somehow China is too rational to not play that long game and not worry about the short term consequences, which is pretty much what Putin is doing as evil as that is. OK, let's jump around to what else we have going on. Looks like the UK has a new prime minister. So the man who finished second only about six or seven weeks ago is going to be the new prime minister. And I guess I better make sure I know how to pronounce his name. Rishi Sunak, maybe? Now, of course, to be the next UK prime minister. And yeah, he was the man who finished second just seven weeks after placing second to trust seven weeks ago. She, of course, out after passing unfunded tax cuts for mostly the wealthy. And I guess he had some critical numbers for that. Yeah, his critique of the prime minister's unfunded tax cuts appear to have been vindicated. I would say so, man. Now, you know what is a kicker of this story, man? I read over the weekend. She gets something like $110,000, $15,000 pension for life for those 45 days. So everyone's laughing at her. And she went down in dramatic fashion. And she'll be in the history books. I'm sure she doesn't want that. And she'd trade out that pension for being the clown that she was. But yeah, she gets $115,000, $110,000, something like that pension for life for those 44 days of torpedoing the pound of crashing conservative think over in the UK. And yeah, we should pay attention to what happened, folks. Tax cuts, we're all about tax cuts. Can't do them unfunded in this environment. That's for sure, especially for the wealthy. When you talk about a cost of living that's hitting middle class and lower class people the most in terms of the rising cost across the board in a big way. OK, what else are we going to jump to? Let's talk about earnings, man. I mean, Jimmy in the Den just posted this great graphic from somewhere. I think, what is this? Is this Whisper somewhere? Earning is one of the sites. But check out the numbers that we got this week, folks. We got all the big ones, OK? You got Tuesday, Microsoft and Alphabet, Wednesday, Facebook, Ford, Boeing, among many, many others, as you see, and Thursday, Apple and Amazon. So we get all the big fang stocks, man. Microsoft, Apple, Meta, excuse me, Microsoft, Google Alphabet, Meta, and then Apple and Amazon to kick off the week. Not to mention, we get the oil stocks on Friday. We get Shopify, right? Caterpillar, it's going to be a huge week of earnings, man. Interesting that we come in at an elevated level, approaching 3,800. And meanwhile, we've got a Fed meeting coming up next week. So we plow through all these numbers. We plow through the big economic numbers. And then we get a Fed meeting where they're expected to hike by 75 basis points. And what are they going to say, folks? What possibly good could they say about the numbers that are coming out? I don't see it. I don't know why the market's at 3,800 when we just got a CPI print that blew away all expectations. I don't know where that lift comes. Because yeah, we got some great bank earnings. We have net interest income and bond trading through the roof, all right? 100 buy on JP Morgan was a gift now as you're up 22% in a bank in 12 days, right? That's a return that you can take to the bank pun intended. There you go. But they're an exceptional case, man. Now, we got some Netflix numbers. Again, an exceptional case, okay? I'm not sure that's indicative of the strength of the economy. But guess what? We're going to find out, man. We're going to find out this week and we're going to find out with the earnings and let's start it off with Microsoft, man. We take a look at Microsoft. Microsoft pulls back to almost the 618. We're trading at 242. We jump over to the Analyze tab. Now it'd be interesting. I think this needs to probably open to get a full calculation of what we're talking about for the expected moves in here. But nonetheless, as of the close of Friday, okay? We're talking about the weekly options. You want action through Friday. You're talking about about a $13 move in 66 cents. That's a decent move, right? More than a 5% move from Microsoft. And yeah, let's jump over to the earnings when they come out. They do. They come out tomorrow after the bell. We also get Google Alphabet tomorrow after the bell. It looks like they're looking for about a $6.88 cent move this week. Now Metta, let's see how Metta's doing, man. Metta, of course, we've got horrible Snapchat earnings. Yeah, you want some volatility for you? How about Metta? $16.50, the stock's only at $13. What's that? Almost a 12, 13% move priced into this equity. Now, you take a look at this thing, man. Where's the paying end? You are back to the lows of 2018. That low, folks, $123.02, and you actually got below it. Remarkable. Yeah, back then, though, check that out, right? What's the actual low here? Gonna zoom on in this for a second. As we got 30 seconds coming into the break here, one minute, I should say. So back in December of 2018, remember those sell-offs going on there? That was a little bit of a rate scare, right? Growth stocks getting hit as the Fed was potentially coming into action and reversed. You had Facebook trade down to $123.42 and $123.02, doing $200 million at $115. And these numbers we just came into $154. Look how much more volume we're doing now. Right, that volume really sticks out back then, especially the $203, which we did do. And then $115, yeah, nothing above $203. So we'll see, coming into those volume numbers a little bit light versus the $200 we had on that acceleration in December of 2018. Stay tuned, folks, we'll be back for the opening bell. Teddy Kegstad has just announced a live webinar coming up for subscribers to his newsletter, The Tiger Forex Report. Wednesday, October 26th at 4 p.m. Eastern Time, Teddy will be hosting a live 60-minute webinar, Forex Strategies and Fundamentals. What is behind the Tiger Forex Report newsletter? In this 60-minute webinar, Teddy will be discussing a full breakdown of the markets that influence currency pairs, as well as applying those variables to individual currency pairs, how to evaluate trading scenarios for risk versus reward, as well as a live question and answer session. Sign up now and gain instant access to this live webinar coming up, as well as a month subscription to Teddy's Tiger Forex Report, which comes with a 30-day money-back guarantee so you have nothing to risk. Don't miss out on this live webinar event with Teddy Kegstad, Wednesday, October 26th. Sign up now for the Tiger Forex Report at the front page of TFNN.com. TFNN is excited about our new software charting program, The Art of Timing the Trade Chart. In collaboration with Tom O'Brien and using his best-selling book, The Art of Timing the Trade, Your Ultimate Trading Mastery System, David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-its-kind program, The Art of Timing the Trade Chart allows you to scan thousands of stocks for Fibonacci formation setups, including guardleafs, ABCs, butterflies, and much more. The Art of Timing the Trade Chart is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now, we're offering licenses available at only $79 a month. We are so confident that you're gonna love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade Charts today by visiting TFNN.com. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority and technical market analysis, and it's not just dry, tedious text either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern. For free, each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN. Educating investors. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks. We get markets open. Taking a look at the S&P. We open up about 16 points right now to 37.80. NASDAQ, we're slipping into the red as I speak. There it goes, negative by nine points. Markets drop a bit on the open, 11,343. Let's jump over to the VIX right now. You get the VIX slightly elevated at 37.10. We jump over to Commodities. Crude, it's going on with that crude market, man. Crude up almost $2 from where I almost came on the program, man. We came on the program at 83, pushing 85 right now. The gold contract at 16.52. We jumped to notes and bonds. Quite a reversal, man. 109.25 down from where we were at 2 AM at about 110.13. And we jump over to the Dollar Index. Currencies right now, you get the Dollar Index at 112.31. Let's see how the yen is faring right now. Dollar yen, 149.13. Let's see how some of the Chinese stocks are opening. Alibaba, 12.84%. We even set trade lower on Alibaba shares. Yeah, and I would stay away completely from what's going on over there, folks. When you talk about the Hang Seng, right? Down 6.4%. I got Shanghai down 2% over there. Some tough numbers to say the least. What's going on with G? Yeah, 10 cents shares. Trading dramatically lower in a big way. Okay, let's jump around to some of our Fang stocks. They know Tesla was rocking lower today. Down 4.5% challenge in the lows we had last week at 204.69 right now. You talk about Tesla. So it looks like they cut prices of cars in China. I mean, this is probably just G going on in terms of everything, right? Yeah, so they cut the prices and they have G consolidating power. Probably not good if you're relying on a ton of profits to come out of that country. Now here's the one side of it, folks, is that G needs some economic growth in China to control his people. So he's not just gonna tank the economy, but in terms of sharing public numbers out there, I just, anyway, we spent enough time on China, but Tesla paying the price, I think this morning again, down about 4.8% and we're challenging the lowest, man. And I would watch out on Tesla, man, in a big way because they're not immune from some of these pullbacks, man. You think about a growth stock, Tesla was the ultimate growth stock, man, the ultimate. And they've only pulled back 50% from their price. Okay, you talk about some of the moves, right? We've been pulling them up. A 618 for Tesla still takes you down about 30 bucks from where you're at. Another 15% from where we're at right now for Tesla shows. Okay, as the markets roll over, S&Ps now just up single digits, up by nine. Let's, we've done enough of the bear cases. Let's talk a little bit of the bull cases. Why not? Oh, where are we? Here we are. Morgan Stanley's Wilson, 4,300. Are you kidding me, man? Maybe. Anything's possible. We're at about 3,800. That'd be about a 15% pop from where we're at right now. He was one of the biggest bears as this thing tumbled, but he's looking for a short-term bullish call in equities. A week after his initial view was met with some skepticism, to say the least, man. He sees the S&P 500 bouncing as much as 15% if it breaches the 200-week moving average, okay? Which it did at 3,605. That's about 4% below Friday's close. A similar view held by other strategists. Now they're talking about as inflation cools and recession is pushed back a bit. So the important part of even the bull cases right now is that they're just a pushed-back bear case. If that's the best bull case, and this is a pretty good bull case, man. If you're looking for the S&Ps to be at 4,300 in the next six months with everything going on, investors would be pretty happy, right? But guess what? That's only saying that things are getting pushed back. That's saying that the market is gonna begin to focus on cooling, inflation, rates potentially pulling back, and they're gonna push off the back burner fears of the economy being hurt by what the Fed did to get that good data of cooling inflation, okay? Now, the biggest weekly gain since June and mid-earnings focus on technicals. That's the way they put it in this chart, okay? But you see the move that we just had, folks. Quite a weekly change. Quite the volatility we had on Friday alone, all right? Now, Goldman does not agree. They say that share prices, and I would probably err on this side, and listen, if you want, you know, the best way to do it is to be short-term. I mean, Kevin Hinks has talked about it, man. You can stay near-term and let the data depict what you do, because if the inflation data does not wane, then there will be no, she even short-term bull run, right? But share prices do not reflect the risk of a US recession that many investors expect during the coming year. They wrote favoring reasonably-valued defensive sectors. We're gonna get the first estimate of third quarter GDP due this week. They're looking for about a 2.3% annualized rate during July to September period after contracting in both the first and second quarters. Now, this is the article they link to. To take a look at it, the GDP is in black here, okay? Third quarter, 2.9%, that's the change in gross GDP. When you look at personal consumption, which we also get this week, the Atlanta Fed estimates PC personal consumption grew at 1.2% in the quarter, which would be the slowest advance since the early months of the pandemic. Business outlays for equipment are seen bouncing back, though after a lull in the prior three months, we get September's income and spending report on Friday. Just think about it, we had GDP, we got personal consumption, we have income and spending report, we have Microsoft, Google, Facebook, Amazon, Apple earnings all this week. So all of these cases are gonna play out in the next 30 or 60 days because they're talking about six months. And if you're gonna get a six month run to 4,300 folks, you're gonna need some data over the next month or two that's gonna support their case and their case is inflation is cooling, the Fed, the pressure on the Fed will probably ease up and that is pressure on the entire market. That would allow a lift, the fears of a recession will be pushed back and then we'd deal with the consequences of that next year. That's a pretty tough bull case if you're talking about only a recession getting pushed back and not like a strong economy growing out of this and missing a recession. The bull cases have now shifted to a recession pushing back as the market prices ease with calming inflation. From a risk versus reward standpoint, now the other way to play this folks, okay is we're gonna see a lot of chop. That's the other side of things. I had a nice trade in the last couple of weeks in my newsletter, Rocket Equities and Options and we basically did a butterfly using the spy, okay? And I'll see if I can find a quick chart of how that trade setup looks. Yeah, I'll have to find it, but I'll see if I can because when you see the type of volatility, when you have a vex, now we're easing that number right now I imagine, we're still sitting at 30 folks, okay? And that is a pretty lofty vex and if you just get some chop, you're gonna see a ton of premium in this market and guess what? I mean, we're already building a range. Right now folks, over the last month, we got a pretty well-defined range. We got two tops at 3800, we got two bottoms at 3600. Ignore the tail to 3500 if you want. Next range up, probably about 3900. That's the low that we had back in September. You get above there, 4,300s in play and so I would look to those areas, okay? But we have moves folks and I'll talk a little bit about this when we get back and I'll go over the trade I had because it kinda talks about how volatile everything is right now and even within the moves that you get, you can still be profitable when the market is moving 2% to 3% sometimes and you're the one selling volatility, which sounds crazy. Stay tuned folks, we'll be right back. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks and commodities, subscribe to the opening call newsletter at tfnn.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. 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An investment in the funds is subject to risk, including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, foresight fund services, LLC. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Welcome back, folks. We got the S&Ps up by 15. NASDAQ rolls over to negative territory and negative by 32 right now. Dow with some strength, man. Up by 252 points. You jump over to commodities, gold. Off by about six bucks. This is an hourly chart I have up on gold. Quite the pullback, right? 1738 down to 1621. You talk about it, folks. Currencies running so much of this market right now. If you get a chance, we have quite a webinar coming up on Wednesday with our man, Teddy Kegstad. We will talk to Teddy on Wednesday morning as well, but head on over to the front page of TFNN, folks, and you will see the Tiger Forex report right on the front page. Teddy's got a new issue of the Tiger Forex report this morning, so it's a great time to sign up. I already took a look at it. He's got a bunch of great information in there, folks, as usual. He publishes a weekly report every Monday morning, and then he has updates throughout the week when warranted. You can subscribe to the Tiger Forex report right now. You gain access to the newsletter. You gain access to the archives of the newsletter, and you gain access to a 60-minute webinar Teddy's doing on Wednesday. And he'll be talking about what's behind the Tiger Forex report newsletter, how he breaks down the currencies, how he looks at the pairs, how he evaluates trading scenarios for risk reward, looking at the setups, how to apply the variables to individual Forex pairs, and what markets, okay, a breakdown of the markets that influence currency pairs. If you've been listening to the program, you've been listening to Teddy on TFNN for years now, folks, he has a great fundamental concept as well as with the technicals that go into the Forex market. I learned a tremendous amount just with the interviews of how those markets react, what impacts them, whether it's yields, right, whether it's commodities, whether it's producers of crude, consumers of crude, all of that impacting things. Please, check it out. Comes with a 30-day money-back guarantee, man, and you're seeing, there's never been a time in my trading life, folks, that currencies I've been so aware of them. It's just moving everything, and we're seeing moves that we haven't seen in 10, 20, 30, 40 years sometimes over the currency spectrum. So check that out on the front page of TFNN for Teddy. And yeah, taking a look at the action, man, the gold contract, right, 17, 38, down to 16, 21. You take a look at the dollar index, that same time you went from about 110 up to 114, and we've had a little bit of a pullback as we see, we jump over to the dollar yen. And yeah, you talk about some volatility, man. It's gotta be tough being over in the bank of Japan, man, and they're like, you know what? What is the point? When we drive this thing down to 146, and by Monday, we're back above 149, pushing it almost 150 again. But nonetheless, we'll see where those shake out. Sometimes the market's just too big, man. That's probably the case with the dollar index. I was listening to Bloomberg earlier this morning, they were talking about, you know, whether it's our Fed, whether it's the dollar, could they do anything or something like that? It's just like, no, the market's too big. They really can't, not by intervening in any real way, can you get ahead of the impact of rates in where they are in the US and yields where they are in the US? I mean, we have a yield right now, folks, the tenure approaching four and a quarter percent, 4.23%, 4.23% man. I mean, let's look at the curve real quick before I jump to that spy trade and talk a little volatility. Yield curve, tenure as I said, 4.23%, but I've talked about it many times, man. Make sure your money's earned some cash, folks. I mean, if you have 10 grand sitting in your checking account, right, that you just don't use and you keep for emergencies, 30 days you can be pulling 3.5% right now. That's a fantastic rate for a 30 day number for the one month, okay? So CDs are a thing again. If it's a money market, you know, you can probably put it with somewhere online. If you have more money than that, it's pretty good when you can have your money available on a 30 day basis and you're earning 3.5%. That's gonna be a headwind for stocks, folks, because yields are real. They're losing money versus inflation, but I don't imagine that's gonna be the case forever to say the least. Okay, let's jump back to the trade that I was talking about here. And so it was a, look at this market, man. To jump back, can't give it a second, man. Look at this, we just popped. Yeah, in one minute, folks, we just popped 20 points in the S&P. So you talk about some volatility, man, and the VIX back to about 30.07. Okay, so taking a look, I'm gonna put this on an hourly and I'm gonna go back to the spy because it's pretty interesting. It even amazes me as this market accelerates higher, pushing the highs that we had of 379 back there on October 5th. So we had a trade in my newsletter, rocket equities and options, that trade October 12th. And what we did was you have the S&P, let's zoom in on that day, okay? That day was approaching 360, we're at about 359. Okay, that day in the afternoon, we're about 358 to 359, somewhere in that range. So remember, we're at about 358 to 359. That's gonna make sense when you see the trade on October 12th. What's important to note here is that that was the day before the CPI was coming up, okay? Which blew away all expectations for October 13th for September inflation. The market had a lot of volatility premium priced into it rightfully so because of the move that we got in that market, okay? Now what I want to go over though is how much volatility premium was actually out there now. Here's the trade that we set up folks, okay? And I love in the Thinkorswim platform, they are a sponsor, I know I'm biased folks, all right? That's the definition of a bias. They pay us to promote their products but I tell my family and friends, okay? And this comes with the bias, so take it for what it's worth that I would use the Thinkorswim platform anyway, regardless, no matter what, we're very fortunate to have them as a sponsor being able to promote a product that we fully believe in, that is just great. So you set up an option trade in the Thinkorswim platform that shows you the chart of your profit losses, okay? So what I've done here is that I've basically set up a butterfly in theory, technically, I guess it would be an iron condor because I have a range from 358 to 360 which is my max profit here. An iron condor is when you give yourself a range versus just being the exact point in which you were selling premium. But what I've done is I've basically sold a credit call spread on the upside and I've sold a credit put spread on the downside, okay? So I sell a 360 call in the spy, never remember. I was trading about 359 on that day. This is that day on the 12th, okay? And folks, if you wanna learn more about this, sign up for my newsletter. I make these trades. It comes with a 30-day money back guarantee. Check out Fast Market at 12 o'clock with Kevin Hanks. We'll talk to him tomorrow. Learned a tremendous amount. They set up trades like this all the time if you haven't watched it, okay? Now, what's important to note here is that I've given myself about a $15 range to the upside and a $15 range to the downside, okay? I'm selling a call at 360, which is pretty close to the money, right? Remember, we're trading at about 359. So I'm selling an at or near the money call for a lot of premium I'm collecting. And then I'm capping my losses to the upside on that call by buying the much further out of the money, 375, okay? So I'm collecting more money for the closer strike price than I am having to give out. So that results in the credit. Now, I am responsible though from the price action of 360 to 375 because somebody else has the right to buy it at 360, right? So I'm gonna have to sell it to them at 360 if this price action creates the scenario. And I'm the one that has the right to buy it back at 375 to cut my losses, let's say it goes to 450, right? Something happens, who knows? Nonetheless, so it's a $15 range that I'm responsible for the losses of, okay? Did the same thing on the downside. I sell a 358 put and I buy the 343 put to cap my losses. Now, what's cool here is you add all those up, you add the two of them up, okay? And that's why it's important to understand how they work because once you understand it folks, it makes sense. And I say this all the time, even if you don't trade options, understanding this type of trading setup is important to understanding the type of moves that are implied in the market even if you're trading equities. This is just for the spy. This is for the S&P 500, okay? And we're gonna finish this up when we get back and you'll see the type of moves we had folks who's we almost had an 8% move in the spy over that period of time and still this trade made money. Stay tuned folks, we'll be right back. TFNN has just launched their new trading room, the Tiger's Zen, hosted at Discord. TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours. And now they are expanding their reach with the Tiger's Zen available to all Tigers and Tigresses for just $1 for the year. There's no catch or added costs when you join our community of traders. In the Tiger's Zen, you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas, interact with other Tigers and Tigresses as they share trading ideas, news analysis and discuss the market action all trading day even at night and on the weekends. The Tiger's Zen at Discord is accessible on mobile or tablets as well. So it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of TFNN.com. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, like any endeavor in life, before you decide it's impossible. Get some advice from the experts. You might find that it's not so impossible after all. 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When you subscribe, you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com, educating investors. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Well, welcome back, folks. We have the S&P up 33 points. That's about 9-10% sitting right where we were. You check out the action, right? That was the high, basically, the spike two in the futures last night. We traded down at about four in the morning to 37-40. So you're 60, six zero points higher from where we were at those lows overnight. Market's back in the positive, man. We jumped back to that SBY, folks, because keep this in mind, just in general, in terms of how much volatility is priced in this market and the moves that are happening. Now, this wouldn't happen in both ways. And we got about a minute and a half here, so I'll wrap it up real quick. But again, we have the chart here, okay, which was we're looking for a max profit between 358 and 360, but the cool part is, is that we're risking 500 bucks per contract here, okay? And that 500 bucks creates a loss anywhere between 370 and 375 or 358, excuse me, or 348 and 343, okay? That's why the chart is so great as I talk about these things, because you see where it goes into the loss, you see where it goes into the loss. We've given ourselves an area from 348 to 370 that we don't lose money in that trade. And the best part is we're risking 500 to potentially make 1,000 on this trade. Now what happened, okay? We make that trade on the 12th, and I want to bring one more thing up before we break down, because look at where the VIX was, folks, okay? This is important as well, that's the 12th. That's the 12th, right there. Okay, that's the reason why I made that trade. We had an elevated VIX for obvious reasons, coming into the CPI. Now, the mentality that I was thinking is saying, hey, everybody knows inflation is rampant, man, okay? CPI, even if it's hell, that shouldn't be surprising, and it kind of worked out, because CPI was hell, for lack of a better term, the market cascade to 348.11, we then accelerated to 375.45, and that moved, folks, from 348.11 to the highs of 375.45 last week, okay? Because this trade was about eight days, was almost an 8% move. Now we got a pullback, which is what I was expecting, hoping, okay? Not really hope, I made the trade with expectations, and thank goodness, when did we get out? On the open on Friday, because by the end of the day Friday, this was almost out on max loss, man, at 375. That acceleration before 9 a.m. on Friday, I sent out a letter, I said, I don't know what happened at nine o'clock, but get out of this trade, because I don't wanna be in the way if we're trading higher, and it worked out. Look at those volatilities, folks. Check it out. Sign up for Teddy's newsletter. We'll see you tomorrow.