 Welcome, folks. This is Tom O'Brien of TFNN. We have five days a week. We go 10 hours a day. We go 24 hours a day on the internet at tfnn.com. Always remember, folks, whatever you think about, you bring about whatever you focus on grows. Hope everyone's having a great day, safe day. Make a great night, folks. Always do your best, but don't overdo. When you overdo, you've deplete your body and you go against yourself and it'll take you longer to accomplish your goal. Mockin' our eyes! Let's take a look at it out here. We have the Dow Industries down 190. NASDAQ off 85. S&Ps down 29. Gold contract up $5.50. Trading at $1,509. Silver up 22 cents. $17.76 an ounce. Light sweet crude down 31 cents. $52.56 a barrel. Notes and bonds. You get the 10-year. Up five ticks, $131.22. 30-year up one tick at $164.14. King dollar. King dollar up 196. Trading 99. 163. The euro is at 109. The yen is at 107.16. And the pound is trading out at 122 to one at US dollar. iPhone numbers 877. 9276648. Give us a call, folks. One note's going on in your world. In the world of the S&Ps, let's take a look at it. We have to go right into the futures market, folks. As you're going to see, a market with some heavy volatility out here that can swing back and forth 20, 30 S&P points in about a heartbeat. This morning, we got down to 28.94. It laid out a low at 11.30 this morning. That's when I hit that baby. You had an expansion going top side. Had some volume behind it, but a bottom line. This is the classic going right back to ice, intraday. We got up to 29.24. That was at 14.40. And then at 14.50, today are five, 10 minutes of three. S&P goes from 29.24 down 23 points in about a heartbeat. What that was about was the announcement by Pompeo that the bottom line is that the Trump administration is slapping visa bans on Chinese officials linked to the mass detention of Muslims in the Jiangji Providence in China. Bottom line, of course, what the market's looking at is that we haven't really cared about that for years right now. Bottom line, this is opening up the battle lines in the aspect of the trade war. That's, I suspect, this is happening. That's the first one that came across. Now, next one that came across. Now, this is what's interesting. You can see why that market will get down so quick, because the bottom line is that China is in the news every single day, trade wars. My take, folks, is that this trade war is going to go on for years, because once you start a fight, forget what it's about, and you can see the escalation that's happening. They had nothing to do with the trade war, but they're going to bring everything else in it. That's how anomaly of brawl starts anyway. And then two or three years later, you forget what it even started from, but the bottom line, everyone's a mess. That's what anomaly comes down to. So simultaneously what would end up happening is that Powell, Powell's speaking right now, and he said that the Federal Reserve is going to basically resume purchasing treasuries. And he's saying that it's not QE. Well, guess what, folks, it is quick QE. It really doesn't matter how they say it. The bottom line is that they have to get cash back into the system, and they're going to start QE again. Now, that aspect there actually should have been a positive for the marketplace, but it wasn't. Thus far, it wasn't. Let's put it that way. We'll see what this shakes out. If we go and take a look at the NQs, what you're going to see out here at the NQs, the same type of move. This move in the NQs was vicious, though. I mean, you're talking about a number. We went from a price point of $7721 down to $7,647. Yes, $7,647. So you're talking about 73 points inside the composite. I mean, inside the NQs. Bottom line is that when you take a look at these structures, we are in an ABC structure on the way down potential. And what we do have out here today is that you have an expansion of volume. So your probability starts getting higher. Like if we take a look at the spy, the high of the low of the spy is $290.45. We are going to need more than 85 million shares in order to, when you break the low of that, in order to have a confirmed ABC structure down. Well, we're at 63 now. So you can see the expansion of volume. Yesterday, we went to a high at 60. We're going to end up doing 73, 75 million shares getting into that bar. The real kicker is going to be how high is the volatility going to be in the next 58 minutes? The NDX100 is also showing its light, showing its spades actually on the way down. We did 21 million shares yesterday. We're already at 24 million. The top of that bar that it's trying to get into right now, we're right at it. 18620 is the number. And right now you're at 18620. That bar there, you're going to need 39 million shares. So in both cases, you are coming into the bar and volume is expanding. Small caps, small caps are down a couple of bucks. We're at 146. They're going after the lows out here of 144.25. Gold, gold contract right now. That is rejected lower price out here today. You get down to 1492, you're at 1510. My take is that gold wants to go up to these highs of 1566. Notes and bonds, they're still screaming higher price. What we had out here today is that the note and bond market rejected lower price. You're going to have lighter volume. We've only done 1.2 million contracts out here. That baby was going into 1.8 million and 1.9 million. So bottom line, game once again, 13219. That's the highs that were generated out here in September. And the way this is trading out actually folks, it looks to me like, yeah, see we could have set up another small ABC structure in the way up. So that's what we did. Your A point on this is 128, 16. Your B is 132. So let's go 129, that's three and a half points. And if this is the C, that'll get you to 134 and a half. And your high is 132 and a half. So that's what it looks like it's done. What that would also mean, if that's the case, is that we're yielding today 1.52. The low, September low is 1.42. The July of 2016 low is 1.31. If in fact this is set up another small ABC structure, you're gonna go to 1.31. If you break 1.31, we're going to eight tenths of 1% positive. And with Powell bottom line saying that he's gonna be back in the treasury market buying, guess what, that's more demand. And we certainly have enough supply. I mean, Mnuchin's gonna come out with more supply this week. But the bottom line is that when you get the Fed buying, they're monetizing that debt. Stay right there folks, come right back.