 The following is a presentation of TFNN The morning market kickoff With your host Tommy O'Brien Tommy O'Brien and good morning everybody. I'm Tommy O'Brien How many alive from TFNN Friday morning just after 9 a.m. Eastern time We got about 24 minutes to go until the start of trading and you got markets in positive territory quite a lift from where We were just a week ago. You're talking about almost 200 S&P points pretty remarkable. You back things up to where we were last Friday spike low on Friday coming into the long weekend 36 39 you make it up to 38 34 overnight. We're just off of those eyes 3829 that's eight tenths percent of the green in the S&Ps Nasdaq 100 you're positive by nine tenths Nasdaq you take a look at where we were last Friday. You're talking about 750 points just like that quite a week as you get a little bit of a bounce across the board the Dow We were at 29,600. How about almost getting 31,000? That's about 1500 points You're talking about on the Dow. We're currently up 207 points. That's two-thirds percent and even the Russell Pretty decent gains. You're talking about almost 80 points in an index last Friday that was trading at 1649 You're up about seven tenths in the Russell So all the indices between about seven tenths and nine tenths nine tenths percent in the green Russell seven tenths Dow seven tenths Nasdaq 109 tenths S&Ps up eight tenths broad rally crude up $2 right now That's 2% up to 106 36 and you see crude just been chopping around since that low of Wednesday now crude You talk about a reversal in the market The S&P almost 200 points higher crude $10 lower from where it was last Friday That's not even cherry-picking the low $10 right now from where it was last Friday the high 1658 gold contract given back some of the gains it had had gold was it 1861 last week you're training 1822 You got the silver contract down 31 pennies of 2073 and no 10 bonds Excuse me. We got a little bit of a reprieve From the higher price and lower yield you I was talking about on my program yesterday. Let's see what time this is at Yeah, that's what was happening. Check out that charge higher And I don't think we got to a two-handle, but it was close man We were at about three point zero three I think three point zero two maybe we did get down there I'm not sure if anybody knows what the exact low yield was when you had that spike on the tenure to 1808 yesterday, but nonetheless the tenure right now trading at three point zero nine percent You back things up to where we were 1407 you're almost three and a half points off of that low But man all you're doing is you're coming right back into the lows of May 6 We'll see how the market reacts Already you see a couple tails getting into that low that price point basically where we're sitting right now zoom in on the Action the exact low on May 9th 1708 the low of the body there in terms of the opening where are we? 1720 so you're talking about only a couple ticks from where we're trading at right now in the tenure and we jump over to the VIX volatility index Looks like we're waning a bit. Maybe that's the the spike I mean you see the trend right we get these spikes and usually when you get a pause you get a reprieve the VIX will start to wane Looks like we have some waiting numbers there as you're talking about check that out This would be the sixth consecutive red bar in the VIX after having a four-day top in the VIX pushing 34 35 We're now training at 28 76 in the volatility index. All right, jump it back to the S&P So we're up 30 points. I was talking about in my program yesterday gonna start it off right now man With it because it's pretty cool when you take a look at this folks We're gonna do two different Fibonacci numbers. Okay, maybe you saw this if you're watching the program yesterday But longer longer term, okay taking the whole run we had from the lows of 2009 665 75 Just a remarkable number considering what we're sitting at up to 4808 Okay, we're currently sitting at about the 236 line in that retracement a 382 of the entire bull run from the lows of 2009 to where we kicked off the year about 4800 You're talking about a 382 number that sits basically at 3200. All right We're 10 20 points away from that price level the cool part about that is 3200 is the price level that basically is the beginning of 2020 And that is also the 618 of the retracement from the COVID lows to the highs So what you have is you have a nice area of confidence folks I mean I've if you're looking for an area for this market to pull back I would keep 3200 as an area that maybe you start putting some risk horn on you would be 1600 points off of the high And again, that doesn't mean that that's the end. We'll talk about it. There's a lot of Wall Street talk now about X percentage even further from here if such and such happens. It's definitely possible. We're gonna see if it plays out in the next 3612 months gonna be a very volatile time potentially if inflation rages and does not come under control Crude oil probably a good week for everything considered that we have crude down about $10. That's something that's gonna have a huge impact on this economy crude prices just absolutely Raging recently Okay, back to the shorter term timeframe on a five-minute chart We just been chopping around the S&P's right at this price level since about midnight Eastern time You were trading at 3825 you've been chopping around at that price level Let's jump around to some of the headlines and here's some of the percentage. I was talking about so S&P 500 may have a another 24 to percent to fall That's quote-unquote 150 years of market history Showing well as the disclaimer likes to say folks if you're in the finance world past performance not Necessarily indicative of future results doesn't mean that's what's gonna happen this time This time is a very different scenario from many scenarios in the past in terms of what is shaping the inflationary pressures That we're dealing with right now Bottoms should be as much as 46 percent below the January peak. That's what they're talking about here Society general which calculates the benchmark gauge may need to tumble as much as 40 percent from the peak that number 2,900 now the reason why I say 3200. It's a lot more comfortable. It's because it's a pretty dire prediction right 2,900 I'd feel a lot more comfortable taking heat down to 2,900 if I was putting more money at risk at 3,200 Then if I was at 3,800 Risking another 900 points from where you're trading at right now Now I also talked about in my program yesterday just for some context here because 2,900 seems like the world is ending folks But if you back things up on a monthly That's a weekly excuse me. There we go. I mean you got to remind yourself that You know, we've had some volatility in the past But I'm not even cherry-picking the year 2000 and the two the year 2007 the 2008 pullback where the market Literally got cut in half. So that was a 50% pullback. Okay, that was I mean it was one of that It was from 1,500 to 665 right and in 2000 it went from 50 and 53 down to 868 in 2000 you had companies that had absolutely no revenue even and just had a dream that were valued at Ridiculous numbers not necessarily what's happening right now. Okay, we're going through a tremendously volatile period But we get some strong companies that just the multiples got a little bit out of whack But they make a lot of money in the long run in 2008. We had just an obscene real estate collapse fueled by a Bubble of all bubbles people just taking out loans left and right kind of a game of hot potato with real estate Barely flipping it and then people caught in that bind when they barely have the equity and they go negative And that cascading effect blows up in credit markets Okay, but taking just where we were when trump got elected, which I believe is somewhere right here. Yeah, 2100 That was in 2016. It's not even six years ago. We were at 2100 and the economy was rocking At 2100 remember the feeling In november of 2016 the economy was rocking. We were at 2100 from 600 We're still at 3800 2900 wouldn't even be the end of the world Context is important. Stay tuned folks. 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We've got about 12 minutes to go until the opening bell You got the s&p's up 30 points. We'll see if we can hold here After today you're talking about only four trading days left in the month when we come back next week July 1st a week from today And of course we got another long weekend coming up next weekend not bad That's two out of three. We'll have long weekends. I can get used to that for sure Bitcoin taking a look at bitcoin on a daily basis. You break lower On june 13th. That was the weekend. So we're talking about two weekends ago Right was when bitcoin accelerates Through that number you come back on monday and bitcoin goes from 27,000 down to a close of 23,150 We've just been chopping around on that floor 20,000 kind of a dicey area to say the least now What's interesting is you back things up for bitcoin, man You talk about an important area. This is when futures started trading folks remarkable that you're talking about almost five years ago Remember that I can't even believe that that's the date december of 2017 almost five years ago because I remember at the time all the discussion was Hey Bitcoin's at 20,000 and for the first time ever you're going to be able to short bitcoin in a regulated environment with futures On I think the cme, right? Is that where they trade? Uh, nonetheless, what happens? Hindsight 2020 but seemed like an easy short and it sure was you write it up for the year You go from 20,000 down to 3000 You reset the market then things really accelerate higher We break through 30,000 that's been an area it had held basically since the beginning of 2021 And just like that you break below 20,000 and we're kind of in no man's land here for bitcoin currently trading 21,175 You jump over to ethereum ethereum Not as long going back. You only go back to february of 21 Excuse me, but ethereum at 1207. That's a monthly pretty scary chart If you're talking about an a to b c to d, let's just put it back even on a weekly Since we're going to get all the action anyway from 4900 would be the a point your b point Somewhere around you could take the exact low of 2100. That would be a b leg of what 20 a to b leg of what? 2700 2650 Yeah, 2650 and you're talking about off of about 3600. Look at that that actually got us there So you got ethereum, which is crazy to think about right because you're talking about an a to b leg of Yeah 26 2700 we'll call it about 4900 down to about 2200 2700 you had to come down that would have got us to about 900. It was really 2650 maybe But 2750 2750 to be exact. Yeah 21 58 so about 2750 That would take us to about 850 would be the exact low. Maybe it has to get to 850 We got to 1010 on ethereum Checking in on cryptos. All right back to equities We jump over to fedx. They had their numbers strong numbers last night drifting higher in the overnight as well They had a conference call that began last night Uh spike to 242. We're at 235. That's $9 higher They had an $11 move priced into that equity for their earnings So just under the expected move to the upside for fedex and we'll jump back to some of the companies that are moving today 687 to share they beat by one penny shipment volumes declined interesting right But we're offset by increased shipping rates and fuel surcharges man So fedex is shipping less items And they're charging more for shipping and they're charging you more for fuel on top of it They're able to transfer those costs Forward to their customers. They beat by a penny. They come in And the market likes that man in a big way Uh car max They were higher as well So they beat estimates by seven cents with the buck 56 revenue beat analyst estimates I made the company called a challenging used vehicle market This is going to be an interesting one to see how this plays out even from just a cpi cost perspective There's your action on car max. You're at 91 bucks. Now this thing has had quite a pullback from 155 back in november Let alone there's your five-year weekly you got car max barely above where you were trading at in 2017 Let's see if we can go back further I mean that's quite a run for this equity you pull back to where it was basically coming into 2020 before the sell-off For the pandemic, uh, but you're gonna open and look at that They've actually given up some of those gains to 91 bucks for car max But that's going to be an interesting one as used vehicles were out of whack in a big way We're still seeing some shortages for cars. How is that going to play out as potentially you have less consumers buying cars I mean one thing that you may see folks if things really wane Right if you're trying to buy a house that payment going up dramatically So maybe you're going to ease a new car purchase if you got to pay, um mortgage rate at 6.2 percent, etc These things will matter. Um, a car if you can put it off Maybe you're going to put it off right now with the slowdown some layoffs Uh, we'll see how that plays out car max a little bit lower today. I say layoffs We jump over to netflix netflix is laying off 300 people Uh Up about 2 bucks to 180 360 this thing of course been in big trouble recently from 701 We'll call it down to 181. Yeah, you had a low of 162 But you put this thing and that's just a weekly folks You're basically chopping around to where you were at low as a 181 for netflix shares Is this market just drifting a little bit higher coming into the open you get the nasdaq now up 1% Now let's see out of curiosity. Does this go back? I don't know if the nasdaq goes back far enough. Yes, it sure does So I was talking about that we have confidence in a nice area of about 3200 in the s&p's And let's see where that lines up actually for the nasdaq In terms of where we are So the nasdaq a 382 retracement in the entire move higher gets you to 10 747 interesting you're a lot closer already to 382 of the entire run higher in the nasdaq Whereas a 382 in the s&p brings you back to 3200 So think about that for all the run that the nasdaq has had that pullback has gotten you almost to a 382 of the entire bull market run folks from 2009 to the highs coming into this year And meanwhile if we just do just something like that You will see the s&p sitting at about 3200 and if you get that type of action You're probably looking at a nasdaq 100 or maybe 9 000 And you know what folks? That shouldn't be too crazy because all that is is right before the pandemic and if you remember correctly Things were really really really good before the pandemic. The market was bustling. We had almost record unemployment, right? It's tough to remember because the market has risen so much during that time Man if that happens, okay, if we get that type of pullback You are going to see some pullbacks in the leaders, man Because you can't get that type of a pullback without seeing it happen in apple Apple already basically sitting pretty similarly just above the 382 or where it was and let's back up apple here for a second Look at this run that apples has Yes, so they started Look at this They start split adjusted in 2009 At $2 and 47 cents a 382 and apple brings you down to about 113 dollars Not out of the realm when you think we've already dropped almost $50 where we're sitting at right now What is the recent low on apple 129 and all i'm talking about is 113 get you back to the 382 That would be a $25 drop from where you're trading at right now though quite a number Can you believe that apple split adjusted? What is it? $2 and 79 cents and you're trading at 138 Just remarkable the runs now. There's some context for you. Okay There's some context for you. What is apple trading at when trump came into office? It just relates the human mind in terms of what was going on then apple is trading at 28 bucks in 2016 Right market was rocking already folks apple had a little bit of pullback It's important to remember some of those numbers when you think about where we may pull back to And things will be okay So make sure you have Your risk adjusted to tolerate Maybe possible in this market stay tuned folks. We got the opening bell coming up. 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Sign up today TFNN has just launched their new trading room the tiger 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 den available to all tigers and tiger's for just one dollar for the year There's no catch or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o bryan 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 tigers 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 den 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 TFNN is excited about our new software charting program the art of timing the trade charts In collaboration with tom o bryan 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 charts allows you to scan thousands of stocks for Fibonacci formation setups including guardleafs abc's butterflies and much more the art of timing the trade charts is designed to help you When scouring the market 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 going to 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 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 got markets open and you got a market drifting a little bit higher s and p's right now up 34 points back to a Five-minute chart you see an acceleration. We just made a high above anything that we were trading at pre-market in the s and p's You get the nasdaq up 126 right now you have the dow up 255 Let's check in on some of the companies that had their numbers last night fedex catching a pop You're up about 10 dollars and 29 cents expected move is about 11 dollars So it catches the lift to the upside uh fedex up 4.4 percent car max had their numbers last night Down about 1.2 for car max Let's see how carvana is trading uh down about 2.7 for carvana Maybe uh something in those car max numbers not too beneficial for carvana Maybe as they come out with theirs in the future this stock talk about a pullback man 376 to 28 Remarkable all right, let's check around on some of the growth stocks roku Up about 1 that thing's gotten quite a lift recently i've been talking about but the growth stocks They've gotten some lifts for sure draft kinks has been battered a bit Catching the lift off the lows, but these stocks they got to catch more a little more A more of a lift than this is what i was trying to get out there Draft kinks up 1.8 percent. Let's check around some of the fag stocks What's going on amazon they're down 8 10th percent right now Why are they trading lower right everything should be higher on a day like today microsoft up 1.7 percent right now You got google shares up 1.3 apple up 1.3 as well We jump over to tesla shares up about eight tenths percent some of the chip makers navidia I mean look how close we are to the lows still though folks getting some of these bounces navidia up 1.1 percent amd shares right now up 1.6 percent right now all right Jumping around to what else we have going on some of the other stocks that we were looking at we looked at fedex we looked at car max So city named microsoft to top pick that's why they're catching a little bit of a bit out there Lending tree lower by almost eight percent. We'll see how they're doing they cut the current current quarter guidance Recession fears higher interest rates and inflation factors for the revision lending tree right rates going through the roof in a big way You jump over to their chart Yeah, down seven percent man to 51 as this market catches a lift to the upside with the s and p now up 40 points All right, we love Fibonacci numbers folks I spent the beginning of the show talking about a nice area of confidence at 3200 so then you say okay Well, how high are we going? Well, let's see what we got in terms of Fibonacci numbers I'm gonna take these numbers off. Whoops. Excuse me. Let me take that number off Take these Fibonacci numbers off for some clarity Whoops We're moved drawing and let's see what possible areas we have for a bounce coming in from this trend and the most recent All right, we're basically there 38 49. It's going to be the 3a2 from where we are right now You're trading at 36 39. We'll see how we come into that area And if you back things up a little bit further, we got three different moves, right? You have the most recent acceleration lower pretty remarkable that you've already got almost a 3a2 retracement of the entire move Lower from 41 75 Down to 36 39 We have the larger trend that began on march 29th Now it's not a clean move, but I still want to see what type of retracements are possible here You're talking about a 3a2 of that retracement. You're basically sitting at 4 000 on the dot, which is interesting Let's take that off for a moment And let's see where we go if we're talking about from a full number If we get a bounce from the entire move pullback, where are we talking about? Keep these in mind folks because we have A decent duration of time left before these markets are really able to gain some low volatile low volatility times For the next Three months at least The market's going to be hanging on those cpi numbers Which is then going to have it hanging on the fed decisions Depending on how those cpi numbers react come in and the fed reacts So it's not a landish to think that We could get good data for a month The market may accelerate higher only to reverberate to the downside or vice versa, right? We could get another bad couple months before things really reverse in dramatic fashion There are all possibilities out there So don't discount the fact that you can get an extreme bounce here when we just traded from 4800 to 3600 ballparking A 3a2 of that area gets you back to 4 000 We're almost at 3850 right now. That's only 150 points to the upside and meanwhile we just bounce 200 points in a week So of course you can get 150 point rides if you get up to 4 000 or 4100 be very careful folks Okay, realize the risks in this market are ever present at least for the next x amount of months I'm ballparking. I'm generalizing But you got to realize That things are not sorting themselves out this month next month or the month after that This is going to take three six twelve months at least until we get some real clarity Number one what's happening to inflation and i'm going fundamental here along with technical Okay, but it's going to take a while to have some real clarity that the longer term trends in inflation Are now with us versus against us And after that happens or during that happening over the course of that happening What is happening to the economy? What is happening to The odds of a recession? Are we in a recession? How deep is that recession going to go? What type of a pullback are we going to be dealing with as the economy tries to get inflation under control? And we have rates at 6.2 for the 30 year now I think you'll see that 30 year ease a bit With the 10 year coming back to about 3.1 percent, but it may not ease that much And that is a real-term impact. We still have crude trading at a price level of 106 Can you believe we're talking about crude levels easing at the pump and we got crude at 106? It's a new normal folks Okay, and that's going to be ever present for at least a few months and i'm being best case Best case possible the bull case as they would say on wall street Is that within a few months you get some clarity that inflation is behind us and maybe the economy is not getting wrecked But that's a pretty hopeful scenario And there's not a lot of data that points to within a few months inflation being under control and the economy not being on its way to a recession I would say the other way around if anything it points to within a few months inflation still being an ever present issue Even if it may be waning And at the same time we have economic indicators pointing to the fact that we probably have a recession coming If things are going as they go right now, you know, maybe we get some easing oil prices doesn't look to be the case We've already eased Maybe we get some easing rates, but how are we going to get easing rates folks with inflation at 8 percent? That's not what's going to cause inflation to wane Money becoming free again It's a tough one All right, let's jump around and see what other articles I had up here. I want to talk about SPACs real quick The SPAC era comes to a whimpering and some interesting stats here Just talking about some of the companies that went public then they went private back again Stay away from all the SPAC folks the most notable probably digital world acquisition corporation president trump that thing Just a disaster on its way to 10 i'm sure from this chart it looks like folks You spiked to 175 you were at 100 as recently as march this thing's a one-way trip You're sitting at 28 dollars right now Uh, not sure truth social is going to be the juggernaut that it was labeled to be And one of the reasons why people love SPACs is because you did not have the regulatory handcuffs that news Usually usually come with an IPO you can basically Say a lot more than you would normally be able to say in an IPO when it comes to your expectations your forecasts and your plans etc and meanwhile None of it is held to fruition if it goes wrong now Check out some of these companies SPAC healthcare merger corp combined with the telemedicine provider saw SOC telemed to bring that company into the nasdaq in november of 2020 In the first day of trading it closed at nine dollars a share They were a public company less than a year and a half in april It boomeramed back into private hands when it was bought out for just three dollars a share by patient square capital Imagine this right? You're back in companies that are private You push them out to the public in a SPAC You let the market pull all that money back to a realistic value even more so than you buy it back They probably would have done it again if this market didn't get exposed to what a scam usually is We're gonna talk about a couple other companies when we come back folks. Stay tuned Are you in the market for buying or selling real estate in the bay area? 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That's 727 329 83 22 call us today The technology around us is changing every day with so much happening can seem impossible to keep up with all the information David white's investment newsletter the technology insider is designed to give you all the information You need to understand the technology that shapes today's markets and tomorrow's future David white has made his living staying on the cutting edge of technology His weekly newsletter will give you specific recommendations for value tech stocks As well as entry prices target prices and stops to set free trade Dave delivers his weekly newsletters every friday with updates throughout the week You can get the technology insider at tfnn.com for only 37 in 50 cents Sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer Try it risk-free today with our 30 day money back guarantee tfnn educating investors Will the s&p 500 continue to climb for bold trades on us large cap stocks in either direction trade spxl spu u or spxs Directions daily s&p 500 bull and bear leveraged etfs Direction leveraged etfs an investor should carefully consider a fund's investment objective risks charges and expenses before investing A fund's prospectus and summary prospectus contain this and other information about direction shares To obtain a fund's prospectus and summary prospectus call 866-476-7523 or visit directioninvestments.com A fund's prospectus and summary prospectus should be read carefully before investing 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 four-side fund services lc This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Welcome back folks. We have the s&p's right now. You're talking about a futures up 48 points at 38 47 How about the nasdaq 100? We're gonna get a 12 000 print. We just might folks You're talking about a thousand points off of the low that we were at eight trading days ago Yeah, that's last thursday and last friday. We had a low of 11,119 You might see a thousand points by the end of the today We'll see where we go now the nasdaq 100 if you talk about the pullback we had Let's reset this because we are below that level now. Let's take that off for some clarity. Let's take that one off too Back this out and I just wanted to see from where we were on june 3rd because we're catching quite a bounce here That's not going to be the exact point But yeah, you're now well above the 382 retracement of that entire pop the 50 percent said about 12,000 the 618 to 12,249 On that number you back up the nasdaq 100 because that is such a small bounce there What if we just talk about the move that really we've had? 12,685 That's an area I look in the nasdaq 100 because you're talking about an area right where we consolidated in the beginning of june Before you sold off again that would bring you right back to the 382 12,685. That's a good 700 points above where we're at right now In the nasdaq all right finishing the conversation about SPACs real quickly a couple other cases that they highlight here just in terms of how absolutely Unfortunate this whole event were for in terms of the money that they're taken from individual investors you had an auto insurer Had taken a buyout offer from a publicly trading insurance company lemonade ink and Metro mile which is that auto insurer is currently trading for less than a dollar a share far below the 14 it traded at after that acquisition corp Blankcheap company finished merging with it earlier last year and then they talk about red box Now this one's definitely an interesting one red box The company famous for renting DVDs from vending machines So it accepted an offer to be purchased by chicken soup for the sole entertainment In a deal that assessed its total equity at 31 Million dollars less than five percent of the value when seaport global Global acquisition court gotta love all the names of these chicken soup for the sole seaport global acquisition corp Help them go public So less than five percent of the value from when they went public bought In in a flashback to the meme traders as they say here They've sent that stock soaring far above the price shareholders will get if the deal goes through and there's a chart red box. Whoops That's not it. Let's pull up red box here rdbx is their symbol Uh, you know if you like trading meme stocks that have nothing to do with the fundamentals Underlying the company in our complete momentum play of hot potato Don't end up with the stock or it might be worthless then this stock might be for you You're down four percent today to 948 on their shares Uh, we're as high as 18 recently just recently 11 days ago But red box another spack deal going bad to going good as we have the s&p is continuing to drift right now up 52 points All right, what else do I have pulled up here? Talking about the spacks We got our biggest movers. Yeah, we talked about netflix. So they're laying off 300 more employees NASDAQ united airlines their pilots getting raises not surprising in terms of the battle to get pilots right now in the air Right, we just what were the stories yesterday and united was cutting flights to new work I think one of the airlines was cutting flights to small cities I think united was cutting a new work as well Maybe it's american netflix laying off 300 more employees as revenue growth slows Not what you want to see from a big growth company Uh a month after the company eliminated 150 positions in the wake of first subscriber losses in a decade They warned investors a couple months ago that it would be pulling back on some of its spending growth over the next two years That's what you should be doing if you're not going to be taking in the same revenue that you were thinking You can't be spending the same money that you had planned when the revenue is not going to be there Especially in this market, uh, the market is going to punish you if you're losing way too much money right now in an environment Where growth numbers are coming down in a big way, but The chief financial officer said during the earnings call in april that netflix is trying to be prudent about pulling back to reflect the realities of the business However, they're not going to do it with content. They're going to spend 17 billion dollars on content I mean, how they're going to make money folks if you got the competition they have They're not even growing subscribers and they're spending 17 billion and one of the biggest battles out there Is going to be they're up 2.7 right now with the naztac climbing up 1.8 right now Uh one of the biggest battles out there is going to be Live sports coming down the line soon just uh last week. I think it was or the week before so disney's up 3.1 right now quite a low 90 201 Disney was battling with Some of the biggest streaming companies out there. They got the tv rights To some sports going on in india. I think it was cricket But they did not get the streaming rights and each of those independently going for like 6.7 billion dollars I'll try and find that article, uh at the next break And I believe it was amazon that even pulled out amazon Bezos One of the wealthiest guys if not the wealthiest guy in the whole world right now said, you know what? I would love to be in streaming in india For for cricket. I think that's what it is. I'll pull it up But i'm not going to spend 7 billion dollars to do it because i'm not going to get that money back Especially for their company probably where you're not really making that money back It's just kind of one perk that's coming with the prime Contingent, uh, but nonetheless they weren't even in the bidding. I think at the end to illustrate How expensive some of this stuff is going to be and that's where the growth is going to come from Some of the most viewed Programs on television folks. I think they're all live sports and they're you know, the super bowl is the number one I'm pretty sure and they go down the line But live sports is nothing like it right now and that's going to be the most expensive thing out there These companies aren't even paying for that right now So that's been a battle for disney Uh, if you're looking at disney and netflix though folks I would say disney a million fold over that company because netflix They're changing their business plan. They're trying to create a new business plan for that company disney has their business plan Folks, there's only one disney the the ip that that company has in the long run You can't match it and they're going to be putting out hit after hit folks as the years go forward And uh, they have a business model. I mean you think about the merchandise, right? I got two young kids 1511 11 year olds in my house And the merchandising that disney does there's nothing like it I mean, maybe some of the shows like coco melon and some of the spin-offs I've talked about that company before private company Maybe But name me one doll that netflix has ever put out or merchandised Yeah, i'm sure you have stranger things dolls, right? You have merchandise that flies with some of their programs But compare that in your mind to the ability of disney to merchandise brands like Mickey mouse to merchandise brands like star wars marvel etc There's nothing like it on netflix folks Uh, and then you add the parks into it disney parks are going to be packed for two or three years The world has changed. We got a backlog of people that want to attend disney right now where things are literally sold out That's going to be a big factor to weather Some of the money that they need to spend in streaming as well And they do need to up their ante because on the adult spectrum Uh, disney's lacking, man And maybe they don't need that as much when you got a stranglehold over the children no pun intended But you got the kids Because man, I tell you we watched lion king lion king was already going this morning folks in my house It was going at about seven in the eight in the morning Frozen gets played all the time um A bunch of other good ones that they just put out as well Can't cancel that on the kids. I can cancel something that I watch hbo Maybe I'll cycle through those eventually although i'm watching the succession right now, which is pretty good as well Uh, but stay tuned folks I'm gonna find the article that I was talking about for those streaming numbers I think it was within the last couple weeks it happened amazon not even participating And you're talking about six to seven billion dollars for streaming rights That's india though one of the world's biggest markets as they're trying to make a hold into that company Stay tuned folks. 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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 Welcome back folks quite a rise we got going on the market right now We talked about the fibonacci levels 38 49 was the 3a 2 retracement of the entire move lower from june 3rd You're talking about from 41 89 about 36 80 36 39 And we're going through that level right now with the s&p is up a solid 1.55 percent the nasdaq now greater than 2 percent In the positive dow up 1.2 percent the russell up 1.8 percent So back to disney streaming the money that they're spending right now and here is the article. Okay so disney and reliance bid 6.2 billion dollars combined So reliance wins the streaming rights disney gets the tv option and this was 10 days ago is when this came out I think the actual auction took place june 12. So this news out june 14 The total value is 6.2 billion dollars that is now over the english premier league as global firms vie for subscribers on the subcontinent I would say so India I think they talk about it 1.4 billion people I think it's the number for the first time ever you had streaming rights Beating out traditional broadcast so you have reliance winning the streaming rights at 238 billion rupees that comes in At what probably half of that I guess about 3.1 billion right And you have disney winning the television rights for 236 billion rupees the ip l learned more than 600 million viewers this year 600 million In a market with almost 1.4 billion people at 15.1 million dollars per match They take over the english football league and so to jump through it. Okay This is a big tournament takes place in india The four contracts started in 2020 were up for grabs broadly covering television and digital rights in the indian some continent and overseas Now amazon they pulled out at the last second Part of the reason they're just not willing to spend the money. They were thinking it might get up to 7.7 billion. They took in 6.2 amazon Probably changing their plans a little bit when they get a little bit of a pullback folks You've seen the pullback amazon has in their shares Not able to spend that type of money recklessly anymore as the market punishing them for losing money dramatically, man Just this year alone amazon today up 1.3 percent Keeping in mind those companies folks. They got a lot of money to spend this market. It's catching a bit Stay tuned folks. We got live programming coming up. Have a great friday