 Let's jump over to our man, Teddy Kegstad. We talk to Teddy folks every Wednesday at 40 past the hour. You can reach him every trading day at his website, forex-trading-unlock.com. Teddy Kegstad, I love that we get to talk to you on Wednesday, Fed Day. Good morning, man. Good morning, Tommy. So where do you want to kick things off, Teddy? Well, there's a lot to talk about. That's it's so open-ended, man, but I was jumping around, I saw the yen doing some action there. We got Fed Day. What about the Fed? As a forex trader, what's your approach on Fed Day as we come into a pretty volatile statement potentially? Well, I think it's going to keep most of the markets quiet and the currencies for the most part. I think you've got the dollar index, which is hovering below its highs right now. Right now, I think you're going to probably see the dollar under a little bit of pressure going into the lunchtime trade, not much, and you've got to remember that right now the dollar is on its highs. So any type of down-tick in the dollar is not bearish. It's profit-taking, and it's normal right now, especially in this environment on a day like today. So I think that you're going to see more traders are pondering the Monday morning quarterback Jamie Dimon in his comment today. It's kind of funny how he was pro-fed, pro-interest rates being low, and all of a sudden he's like, they should have raised rates a long time ago. He wasn't saying a year ago that they should be raising rates. But I think that's what you're going to see today is the people are just pondering a lot of jibber-jabber until the Fed releases their comment. I agree with a lot of the talk about them talking about more than just a half a point over the next couple of meetings and half-point pops. We've been talking about that already for six months, that they should be doing that. So I think that that's mostly what you're going to hear about. They're going to still start to acknowledge the fact that inflation does exist. They can't deny that anymore. I think that they're going to have to probably change their speak also, being that they're going to have to agree with the fact that the consensus that inflation is here to stay, it's not going away anytime soon. The reality is, I think you're going to see this, the actions of the Fed right now, they're chasing this curve. We have a contracting economy. I've been saying, I said at the beginning of the last year in the fall that this should be the year of the economic numbers. Now they're all lagging. That means that where we are is a lot worse than what we're seeing on a balance sheet basis. I think that the markets, no matter what, they're forward-thinking and the traders are very aware of this environment. Anyone that doesn't acknowledge the fact that inflation, if you think that we saw inflation this year, wait till where we are any year from now. Just think about your grocery store or even a gas. Right now, you're spending three times what you were paying for gas 14 months ago. That's not changing. I would guarantee you that this time next year, you're paying at least a dollar and a half to $2 more for gas, on average, no matter what, no matter what we do. Then think about your cost of food. Your cost of food, just think about walking down the aisle. Minor things that are actually pretty reasonable price and you don't really think about their numbers. Look at pasta. Pasta's up 50% to 100% in the past six months. Where do you think that's going to be in a year from now? Pasta's a high margin item for a lot of restaurants. This is going to impact the economy. Think about it. Where do your big chain restaurants make all their money on? Alcohol sales and things like pizza, pasta dishes because their margins are super high. Now all of a sudden, you take out the one last component in these industries where your margins are high and you shrink them radically very quickly. How fast is the economy going to contract then? I think that this is going to cause a lot of market swings. It's going to definitely impact the stock market huge. With the Fed being on a raising interest rate policy, the dollar is going to remain strong for at least in the short run too because of this. So a strong dollar may look good on the economic, on the chart. But when you think about where the value is, the value of the purchasing power of the dollar is crashing. Here's an interesting take. I was out this week and I was with a friend who had company in town from the Europe. One was from the UK, one was from the EU. And I asked them both of them are businessmen too. And I said, so is the Bank of England and the EU, are you going to start to defend your currency and start at least talking about doing so like Japan? And the first thing the guy from the UK said is like, we don't have enough bullets to defend our currency. And the guy from the EU said the same thing. And he's like, also their environment as far as what they really have been trying to push and what they're trying to push moving forward is in contrary to what you would be doing. So if that's truly the case, then you're going to see the dollar index continue right now. Any break in the dollar index is going to be a break to buy. So and I would say it's a profit taking move. Like today the euro is up, the pound is up. The Australian dollar, we have a buy signal from yesterday and the Australian dollar. Here's the problem is every single buy signal, and I always that's why I say don't try and pick a bottom. Right now it's a corrective move that no matter what, if you look at the trend, but it can't even hold a correction. A correction now only lasts for a day. Instead of being a three, four, five day trend, even if it's not that extreme in direction as far as how much price movement you've got, at least you would maintain that momentum. You cannot maintain momentum against the dollar right now for more than two days. And that's something that is, I think all forex traders need to take into account is that like we've been talking about the trends right now are very extreme and you can ride these trends and be and just be aware of that. You know, I mean, the trend is your friend is an old adage, but the geopolitical activity of what's going on right now supports it in such a big way that I mean your technicals are out the window. I mean, if you're using any type of indicators overbought, oversold, we know that they're all lagging. Well, they're getting crushed and they're going to continue to get crushed for the next couple of years. You know, so and I think like oil, too, after today, we got the oil numbers coming out, Fed meeting. I wouldn't doubt that we see an upside breakout. And if we do, once we get above 110, 116 is a heartbeat away. And then we're back up challenging 130. You know, I mean, I told you before, like 150 oil by the end of the summer, I think may come a lot quicker and $200 oil is it's on the table. It's not going away. Those are some statements, man. I was going to ask you, if you're looking for gas prices up a buck or two, where does that put crude in that round? If you're looking there at 150 right there. So now we're looking at $200 oil, then you're looking at, you know, we'll be paying $8 a gallon for gas. Well, I hope that's not the case. We'll see what happens, man, but it's a dicey scenario, for sure. And you got the den. You got the den all riled up, man. You got my dad riled up in there with pasta prices. It's Prince Spaghetti Day Wednesday. I'm a pasta fan. I don't like this anymore to you, dude. I'm telling you, but the average person who doesn't even know markets can see this happening. Oh, for sure, man, for sure. And if you see this happen, think about this. How much is it going to cost to plant this year? How much is wheat going to cost? The fundamental parts of things like that, that you don't normally think about because there is such a huge supply, we know the supply is going to be shrinking no matter what. And the cost of that supply is going up because of artificial things. Sure. No, I've been talking about it in the beginning of the program. I see a lot of risks in terms of the Fed. I think everybody knows Jamie Timon that we were late to the party. I think that's pretty much consensus if you're paying attention. So yeah, pretty dicey scenario when where do the risks lie? The risks lie, man, that the Fed might figure out they have to hike. And they have to hike pretty quickly. And like you say, there's a lot of economic indicators that make things maybe a little bit tough as we go forward as they keep hiking. And we're all facing some pretty tough situations, man, with whether it's gas, inflation, the likes. Well, Teddy, I wish we could do all our men. Thank you so much for the update. And we will talk to you next Wednesday. New highs on the end before we talk next week. New highs on the end. I love it. We'll take a look. Thanks so much, Teddy. Have a great week, man. We'll talk to you next Wednesday.