 The following is a presentation of TFNN. The morning market kickoff with your host, Tommy O'Brien. Good Thursday morning, everybody. I'm Tommy O'Brien, coming to you live from TFNN just after 9 a.m. Eastern time. We got about 24 minutes to go until the start of trading and you got markets picking things up right where we left off yesterday. Lower prices dramatically to the downside. We just hit a price of 4403 in the S&Ps. You get the S&Ps off about 810% in the red off 36 points at 4410, NASDAQ 100, leading the way off 1.25%. You're under 15,000, 14,962. I mean, you're talking about almost 800 points in the NASDAQ we just gave up. You're talking about in the S&Ps. You put it on a five-minute chart. You back it up to the highs of last Friday morning. 3.5% shaved off of this market in less than one week. So be careful out here, folks. Things are moving quickly. We'll get over the yields in a moment. Dow right now, off about 510% trading at 34,565 in the Russell, off about 710%. 1813 is the price. Excuse me. Crude oil catches a bid off the lows of 8837. We're back above $90 for light sweet crude trading up 68 pennies on the session at 9034. Gold contract facing some heat. What do we got? We got higher yields. That's gonna put a hurt on the gold contract. Yesterday, we're at 1968 this morning. We're down $31 additional on top of that at 1935. Never remember that what happens in gold is that that session is ending in the middle of the afternoon. So unlike the markets, you add $31, which it's technically off on the session. That brings you up to 1966. So you can see that this is kind of off $31 on the session. But meanwhile, a lot of that yesterday, well say how about half of it yesterday, half of it today. Nonetheless, that will make sense when we get over to yields and the dollar and let's get over. There is your 10-year. Let's see where we're at right now as we talk about it. The 10-year, 4.47% right up against that 4.5% number. The 10-year, often additional 26 ticks. You back it up to yesterday at one o'clock in the afternoon. A full point folks, even from where at right now you trade from 109.17 down to 108.08 this morning. You're up five basis points off of that low at 108.13. You jump over to the two-year. And the two-year right now, about 5.17%. Almost pushing towards 5.2% yield on the two-year. Pretty remarkable across the board. And that of course, translating into dollar strength. Whoops, DXY. You jump over to the dollar index and you push in 105.73 this morning. You back off a bit as you get a little bit of a reprieve on the yields. But boy, you're talking about a full point from 104.70 yesterday to 105.70 this morning. Just mammoth moves across the board. All right, where do we start off? Let's talk about a little bit of Fed, man. Why not? The Fed signals higher for longer rates with hikes almost finished. Paulo stress is a careful approach in the Wednesday press conference. And that's the key. The second bullet point here, officials. Now see less easing next year than they anticipated. Everything can always change folks, right? Data dependent. The Fed is data dependent. No matter what you talk about here, they're going to quote unquote, proceed carefully, okay? A sentiment he has repeated at least a dozen at least, excuse me, I'll start again. A sentiment he repeated at least a dozen times during the press conference that followed the announcement. 12 of the 19 Fed officials said they expect to raise rates one more time this year. So seven of the Fed officials think that they're done and potentially they'll pause with their dot plots. Excuse me. They show that they expect inflation to fall below 3% next year and they're looking for a return to 2% by 2026. Now that gets some headlines, okay? They're looking for 2.2% by 2025. And I talked about yesterday, I was live from two till 230 when we got the announcement. We got the decision at two o'clock. We all had to wait for the press conference at 230. And one of the things I was saying is it sounds like a pro forma spreadsheet, right? Who knows what's gonna happen in 2026, man? I mean, that's their job, okay? To forecast and to use the FOMC and interest rate policy to try and guide the market the best they can. But who knows where we're gonna be in 2026, man? Putting that number out there, especially when you say, ah, we'll be at 2.2% by 2025. And we're gonna get those last two to 10th percentage points by 2026. It's a Goldilocks scenario in my opinion, okay? Not sure that's how things are gonna play out. And even if that's how things play out, it's still gonna be higher for longer than what the market was thinking. The new projections reflected, the Fed officials now expect their benchmark rate to be at 5.1% by the end of next year. The market was looking for 4.6. That was the, excuse me, that was the biggest change out there. 5.1 by the end of next year, you're looking for as opposed to 4.6 was what the market was expecting there. Markets trade lowered, dollar trades higher, yields are trading higher, and everything is extending those gains this morning as we press forward. It's gonna be an interesting day to see how this market digests some of that action. When you think about, we just gave up about 100 S&P points, folks. Let's see where that high was yesterday to get the tick early on the open. 4508, yeah, 105 S&P points over the period of about 24 hours. Ooh, watch out, folks. Okay, taking a little bit bigger picture in the S&Ps I was looking at this morning. So, we're coming into the lows of August, okay? Zooming in on those lows. We got a spike low on the 18th to 43.50, nice round number, our man Basil Chapman. But you did chop around from August 17th to August 25th. So eight days, you had about six, seven trading days in there where you were sitting just at about 4,400, maybe 4,375, ballpark that figure. We're coming right back into that number, okay? So that's gonna be an area that potentially we face a little bit of support. We'll see if we blow through that area. I think we will blow through that area, okay? You blow through that area, where's the next stop? Next stop's 4,200, man, okay? And that's gonna be an area that you're definitely gonna have an area of support. Doesn't mean it's gonna hold, but that is gonna be an area of support. That is an area that you held in the market from February was the first high. You almost got back up there in December. You reached a high of 4,180. You made it up chopped around in February and then we consolidated from basically April 4th where you had a high of 4,171 until you broke out of that area on June 1st. It's almost two full months. You were chopping around at 4,200, so you get back to that area. That's an area. Expect that you could see some support. Now, here's the kicker, right? Taking even a bigger long-term picture, even a longer-term picture, you should say. Putting it on the spy. I think that's where I have the chart up there. There it is. Now, what's interesting here is this is the spy. The areas correlate, okay? You see that the area we're coming into right now on the spy, the low of about 433. We're at 445 right now, potentially. That was the low of August. This is a weekly chart we're looking at. The one to 1.618 expansion of the COVID lows, and this is getting really big picture, okay? And let's just put it on the ES for some context here. I'm gonna zoom in on the COVID acceleration. I'm gonna put a Fibonacci retracement on that number, okay? And the one to 1.6.8 brings you kind of right back up to that area, right? So you're talking about 41.60, 42.00s, the round number. We had a higher 42.08 back in January, okay? Keep that number on your radar, folks, okay? That's the expansion of a 1 to 1.6.8 of the COVID lows to higher price, and that also correlates basically to an area of resistance from late last year to early this year. And so that's an area that I'm looking for this market to trade back to right now. 44.10, I mean, what gets in the way of this market to get it higher ahead of that next Fed meeting? Next Fed meeting, November 1st. We've got six weeks, and I see a lot of headwind in this market for the first time in a while over the next six weeks. Stay tuned, folks, we'll be coming back, talking to our man, Kevin Hinks from the Schwab Network, we'll be right back. If you're looking for potential trading setups in the stock market, then Rocket Equities and Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them, using a combination of fundamentals and technicals. 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At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 days risk-free today. TFNN, educating investors. TFNN has launched the Tiger's Den. 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, the Tiger's Den. Available to all Tigers and Tigresses for just $1 for the year. There's no cash or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Welcome back, folks. We've got the S&Ps off about 36 points right now and we're trading at 44.11. We've got the Nasdaq 100 off 186. That's off about 1.25%. To talk about some of the market action this morning, let's jump over to our man, Kevin Hinks. Every trading day, folks, right here on Tiger TV, you can check out Fast Market from the Schwad network at 12 noon Eastern time. Kevin Hinks, Tom White and the team outstanding program and let's dive right into the action. Kevin Hinks, we got some action in this market. Good morning. Good morning, Tommy O'Brien. Yeah, interesting reaction to everything that Jerome Powell said, even though it was a pause, a lot of things, a lot of moving parts. And to sum it up for your viewers, you know, the summary of equity, that was the key part. We knew that was gonna happen. And to sum it up for you, unemployment went down. The forecast for GDP went up, went up. And the bottom line is this market is a bit stronger than we thought it was gonna be. And you see that right in the 10 year yield spiking this morning. And the Bank of England left their rates unchanged. And so at least to start the day, we've got some stocks under pressure and not surprising it's the NASDAQ, those seven names that have led us higher all along, Tommy. Yeah, pretty remarkable. I get the yield curve up here in front of me, Kevin. The 10 year right now, I got it at 4.48% the two year, pushing almost 5.2%, just some mammoth moves. And as you mentioned, of course, growth stocks pulling back one and a quarter percent this morning, S&Ps off about 36 points. You got the S&Ps off about 100 points from where it was yesterday morning. What did you think, Kevin, about, and I love the saying, and if you can go over this with the listeners, because I was looking at those projections from the Fed and they go out all the way to 2026 and they're talking about in 2026, we're back at 2% for PCE. They talk about maybe we're at 2.2, not maybe, that's what they put out 2.2% potentially in 2025. But for the listeners that haven't heard you talk about it, because boy, that is so far out to think about where this economy will be. What do you think about those projections going out that far? And if you can remind the listeners that you talk about staying current, because I love the way you talk about that. And that's what I was thinking about yesterday when I saw some of those projections going out two to three years in this economy that, man, people have missed the mark many times. What do you think about some of those numbers pretty far out? Yeah, when Jerome Powell himself discounts the dot plot, why? Because anything more than three months, no one has any idea. So the dot plots, anything past the end of this year, wait to them. Because the Fed is gonna watch the economic data, they're gonna watch how it moves and what the overall economy does, and they're gonna react to that. So these dot plots are a great conversation tool and they give a snapshot right now of what the 19 members of the Fed think about the economy going forward is worth zero past about three months, Tommy. I appreciate a little bit of sanity to the conversation because I try and wrap my head around a man three years out, my goodness, right? Two years out, my goodness. I was joking yesterday, Kevin, it reminded me of like, you know, you have a business creating a pro forma spreadsheet and they tell you in three years they're gonna be overtaking Amazon and you say, all right, we'll see what happens, man. Good luck with that. And it's very similar to this. They've got work to do on inflation, right? We all know that the economy is stronger than expected. The data is coming in stronger than expected. So I think what Jerome Powell's fear is that much like Paul Volcker, it's the old stop and start on inflation, right? And that's what he's afraid of. That's why, remember, the Fed funds rate projection for the end of this year is 5.6%. That means another hike is on the table there or expected before the end of the year. So I think Jerome Powell is commandeering a smooth, sometimes a smooth landing can be a little bumpy, but if he gets this to work, it'll be pretty significant. With trying to stay as current as we can, the next meeting coming up November 1st, I believe is the decision. So we're about six weeks out, six weeks out is how they go. You said it well, 12 and the 19 Fed members potentially looking for one more hike this year doesn't necessarily have to be at that November meeting. But how are you wrapping your brain around where we go over the next six weeks is, I mean, yesterday and today, as I just mentioned, a hundred points in the S&P, are you just waiting for some of that data that we're gonna get, whether it's for the month of September? How are you looking at that next Fed meeting six weeks out already? Yeah, there's a lot of data we're gonna get between now and then. We're gonna get PCE next week, right? That's gonna be a big important part because Jerome Powell likes to look at that core PCE year over year numbers. So listen, I think from a perspective, it should surprise no one, Tommy, no one that some of the frothy PCE ratios in the NASDAQ will be the ones that get hit the quickest and the hardest. And why? Because those seven stocks that we named the Magnificent Seven, they let us here. So if rates spike higher like they do, and I've told, I've said on your air before, the market can handle rates higher back over 90, you know, the 10-year yield, that's a spike one and a quarter percent or one and a quarter, but 123 basis points right now, almost 3% on the 10-year yield. That's a spike. That's gonna make the market uncomfortable, Tommy. So that's what we're dealing with. You know, the economic data, the good news is for the US, you know, the United States is our economy is still strong. That doesn't always. Not well said, man, because the economy is strong and the multiples probably a little out of whack. Maybe they whacked back into reality a bit. I was jumping through some of those charts as you were talking about it. Apple alone off almost $6 from where it was yesterday. Microsoft shares off what? Almost $10 from where you were yesterday. Google shares off almost $8, $7. So pretty decisive moves to put it lightly. With that in mind, Kevin, as you mentioned, coming into the end of the season, we had FedEx with their numbers last night. Do you guys have any equities that you'll be talking about on Fast Market at 12 today, man? Yeah, like Folio's gonna do a presentation on Coinbase. So we're gonna look at them and the effects on cryptocurrency during this, you know, this period, we're gonna look at Uber and with everything going on, you know, Uber is a pretty big competitor of Instacart. So we're gonna look at Uber and then we're gonna trade CrowdStrike in the final segment. So Uber, Coinbase and CrowdStrike today. Three great stocks, man. I appreciate the insight as always, Kevin, on a pretty important market day. I look forward to the program at 12 o'clock. We don't talk to you tomorrow, of course. So we'll talk to you on Tuesday. And who knows where this market will be by Tuesday morning, man? I appreciate it. Have a great day, Tommy. Have a great week, Kevin. You too. Folks, check it out. Every trading day, Fast Market from the Schwab Network right here on Tiger TV, 12 noon Eastern Time. You heard about it. They're talking about three great stocks. Look at the action in CrowdStrike this morning, man. From 163 up to 172, back to 165. Coinbase, right? Check out Coinbase yesterday at 80 bucks, where it's 74 this morning as well. And Uber, yeah, that's an interesting one. You take a little bit of a look at longer term. This thing has been on quite an acceleration this year. You start off the year at 25 bucks. You almost double that price tag up to 49, 49. You've backed off a bit. Yeah, how about Instacart, man? As we wrap it up, Instacart, just like that. Negative price is yesterday down to about 30 bucks. We were at 43. Stay tuned, folks. We're coming back for the opening bell. Don't go away. Adding stock options to your portfolio can be a major game changer. But the full complexities of these instruments can oftentimes allude to even the most experienced traders. Whether you're a seasoned trader looking to sharpen your knowledge on options or you're completely new to the market, Teddy Kextat is here to help. 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We get the S&P down about 30 points on the open. You're 13 points off the low we had at about 8.30 this morning. So you catch a little bit of a lift. Still NASDAQ 100 off 1.1%. You get the Dow right now off about 3.10% and the Russell off 1.1%. Basically session lows on the open right there. Crew contract catches a bit. Back to 90.54 for the price of crude. Gold taking a herding. Taking, yeah, hurt. Taking a herding, yeah, maybe. With the Dollar Index pushing higher, man. 105.50, we were up all the way to 105.73 in that Dollar Index and let's check in on some of those fang stocks. Amazon shares, 3%, man. Watch out in this market, folks. Amazon off 3% right now to 131.54. You jump over to Apple. Off 1.25%, they catch a lift. Maybe a little bit of a safe haven. Now, I've talked about it before. Apple's got 16 billion shares outstanding. Ballparking, rounding. You're off $5. That's $80 billion in market cap. Wiped out just from where we were on the open yesterday. You jump over to Microsoft shares. They're off about 3.10% right now to kick things off. At about 320, you were trading at 330 yesterday. Excuse me, Nvidia shares. They catch a lift as well. Look at this, you were just at 4.11 on Nvidia. You popped to 4.19 and you were at almost 4.40 at the open yesterday from Nvidia. Tesla shares, they catch a lift as well. So there's gonna be some winners and losers here. Still off a percent. But you're only off $2.72 for Tesla. You were as low as $255 on the open there for Tesla shares. Netflix, they've won one of the runners in this market. Actually, positive by a percentage for Netflix shares. Let's jump to the streamers. Warner Brothers Discovery. Basically flat this morning, you jump over to Disney down 7.10% chopping around at about $82. And let's check back in on yields to keep our eye. Yeah, slight reprieve, but boy, we're only a few ticks away from the lows of 1.0808 this morning on the 10 year. You jump to the two year right now and just off the lows as well, sitting at 1.0107. I mean, where does this market find optimism and a bid until the next Fed meeting? That's what I find myself asking this morning. You should ask yourself that question, right? We've seen the growth get pushed forward. We've seen rates go higher. We've seen the artificial intelligence craze catch holds, okay? But where do you find the bid for the next acceleration? Okay, there is the NVIDIA acceleration that started in on May, right? From 300 to 400, you get up to 500 or almost back to 400. You're gonna fill that gap? We might fill that gap, folks. Be careful, we already filled about half of that gap. Okay, you're up to 502, we're back to about 420. For NVIDIA shares, you're off by about 9.10% right now. Now remember, this run really started almost in March on the S&Ps, okay? We're backing things up a bit. And we're talking about this in the den and we're having some great conversations in the den, folks. If you're out there listening, you haven't joined the Tiger's Den yet, head on over to TFNN. It's a dollar to join it for the year. We only charge that, so we keep out the spammers. We validate everybody. You're not getting a bunch of garbage in there. And there's some great conversations about potentials for this market. I talked about the beginning of the program, maybe 4200, okay? Now, what's very cool is, one of our Tigers in there is talking about, you take the area of the low of about 3,500, you take a Feminace expansion, you throw it up there, okay? The 3802 is right at about 4,200. Pretty cool, right? You take the lowest of 3,500, accelerate to the highs of 4,634, you back things off, you got the 3802 at about 4,203. Then what you do, okay, is that I add in there, you take the one-way trip this market's been in from about March 13th, you take that Feminace retracement and the 618 of that Feminace retracement is about 4,150. Both of those, okay? An area of confluence is a Feminace retracement zone of two different trends that coincide. So you got the 3802 of the larger trend, sitting at about 4,200. You got the 618 of the shorter term trend, sitting at about 4,150. That gives you an area of confluence between about 4,150 and 4,200. And that area correlates to basically the area we were talking about, which was the 4,200 area that this thing has had resistance at, okay? But maybe that's gonna turn into support potentially, maybe that's a price target. But you see in this area, and let's see if I can highlight this area for us, right? We're gonna highlight that area of confluence and there it is, okay? And look how well that lines up. We're gonna activate that drawing with where this market chopped around, which I found so cool. Doesn't mean it's gonna happen, folks, okay? But keep that on your radar, because that's the 3802 of the longer term trend and the 618 of the shorter term trend. And it lines up so well with where this market struggled to get above, maybe that's the first projection, but where you get below, an area of confluence at about 4,200 to 4,150 and it might be a quick move, folks. Now, this area that we're coming into of about 4,375, okay? You could say it's almost the 3802 of the shorter term trend, but basically the area that was the low in August there, that's gonna be your first step to see how this market trades. But we gave up 100 points in the last 24 hours, folks. And we're only talking about 200 points from where we're at right now. And we gave up 100 points in the last 24 hours and growth stocks in particular, okay? Keep your eye on these yields, man, because it's a new world. Right? It is a brave new world that we are in. Think about buying the 10-year at 140, okay? You wanna do a better one? Think about being a bank and buying 30 years at 170 or 162. That's a quick way to push your bank out of business because you're only getting 116 for the next couple of years, right? You gotta hold them to maturity for 30 years if you want that money back. But if you don't hold them for 30 years and you wanna sell them two years later, you bought them at 162 and you're selling them at 116. Wait, what is that? 162 minus 116. That's a $46 loss. That is a 28.4% capital loss on a 30-year fixed investment in a U.S. Treasury over a period of two years. 28.4%, that's a quick way to go out of business as a bank and we saw it happen. Mammoth moves across the board. You're making new lows on the 30-year. We're off by almost two full points right now on the 30-year and that is pushing things. Let me see if I can find it and find it quickly. Here we go. That is pushing the 30-year to now 4.53%. The 10-year, 4.47 and the two-year, 5.15. Almost at that 5.2 was where that two-year was falling. All right, let's jump over to the gold contract. I mean, you got dollar strength like this, man. Gold's gonna struggle. That's baked into this market. If you're looking for gold, maybe you're looking for the 1910 area, right? I mean, that's where we were back in June. That's where we were back in August. We're sitting at about $24 above that price tag, which is about 1,900 area, maybe 1910 on the price of gold. This is a brave new world, as I said before, man. So be careful in this market. You get the dollar index at 105.48 right now. You get the highs of March, 105.88. What's so interesting, right, is that this market has plowed higher since March. And meanwhile, we got the dollar index right back to where we were, right? March 8th, dollar index, 105 and change. Today, 105 and change. We check out yields over that time, okay? You back it up to March. There's your spike low that correlates a bit, okay? The 110, 12, we're two full points below that. So you have higher yields, you get the dollar at the same area. And meanwhile, we have the S&P's folks sitting still almost 550 points above where we were. So be careful. Stay tuned folks, we're coming back in three minutes. 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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Teddy will also go over how to trade stocks and other market movements without large capital allocation, how to expand portfolio diversification, how to maximize potential returns, basic entry and exit techniques, and more. If that wasn't enough of a reason to attend, Teddy will also be answering all questions live. If you're serious about making money in this market, head over to the front page of TFNN.com today to sign up for Teddy's live stream, TFNN, educating investors. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Welcome back, folks. We get the S&P down about 39 points right now, and you're looking at the NASDAQ off 155 right now. That's about a percent. NASDAQ lifts a bit. We were off one and a quarter percent on that number, and you jump over to Crude, continuing higher, Crude Contract. Back to a short-term timeframe, we get the Crude Contract. Excuse me as I'm jumping around here. Just one second. Up about a dollar to 90, 60, 90, you see pushing the highs just of yesterday in terms of where we are. You get the S&Ps off an even 40 points right now. One second, folks, as I jump around here. All right, apologize. Gold contract down about 30, and yeah, watch out for this market, man. You know, this might seem like quite a pullback, 100 points. Give me one second here, because from where we are and where we've been, folks, context is everything, okay? And you're seeing, just one more second. Appreciate you hanging with me. You're seeing the market that has the potential to go dramatically lower, okay? Because for some reason, we have the context that this market is at 4,500, but remember, we were just at 3,500. I was having the conversation yesterday, talking about, you know, if you're not willing to accept a 20% haircut in this market, then don't be in this market because there's a very real threat that that's where we go, and you're looking at right now, okay, thank you. I'm all set. Two more. I'm gonna get some trades going, man, because this market's rocking. Okay. All right, we're good. Okay, let's take a look at this because this was a one-way trip, folks. Let's take these Fibonacci's numbers off here. We're gonna leave that confidence area, which remember is the 382 from the lows of the market, which was 3,500, and that is correlating to the 618 of the shorter-term trend from March 13th, okay? But when you're talking about a 20% haircut, we've lost 3.5% in less than a week, okay? And all that would be is bringing this market back to about a year ago, and I'm gonna do a little bit big picture, okay? Would it be the end of the world if you saw the S&P touch this point one more time? No, that wouldn't be the end of the world at all. Look at that. All that would be is just a larger consolidation, a larger pullback. We have rates correlating to much higher price yields on a longer-term basis, and we have a market that hasn't traded lower essentially over a period of six-plus months, okay? So be careful in this market. The numbers seem large right now, but remember where we're sitting. We're right near all-time highs, and now we have yields and the cost of capital, okay? So everybody talks about the cost of consumer capital, which they should, right? What's your signature worth? What's it take to buy a house? How much can you afford when you buy a car? All of that matters dramatically, but where it matters as well is the cost of capital for businesses, and that's where you're seeing growth stocks getting hit, and I don't think that one has fully reverberated in this market yet, especially with the multiples we're dealing with with some of the growth stocks, because you're gonna push higher levels for the cost of capital on a forward-going basis, even staying short-term, okay? The Fed's not budging for some time, okay? That was a dramatic shift to 5.1% at the end of next year. Folks, 5.1% at the end of next year. You're going out 15 months, and the Fed's telling you that we're still gonna be at 5.1%. That is gonna weigh on equities across the board, and it's gonna take a little time to reverberate through the multiples that these equities are priced at. You saw it happen yesterday, and boy, I was eager to take a look at the futures this morning, and I was not surprised when I saw things, yeah, about seven o'clock. I started looking at the market. I was up with Tommy at almost 6.630, and by seven o'clock, this market was already at a price tag of basically where it's at right now. Almost, what was the low there? 44.11, yeah, and we're sitting at 44.07. I said, yeah, yesterday was not a one-off. Today's probably not a one-off either. Doesn't mean we won't get some accelerations higher over that period of time, but be careful, because I'm looking for, over the next six weeks, pressure on this market leading up to the next meeting. Maybe we see how the data goes, but the Fed is spoken, the market is listening, and they're not gonna speak again until November 1st, and don't expect a reprieve even at that November 1st meeting. I think you're gonna see the market before looking leading up to November 1st. Very difficult to imagine that this market catches another bid when you think about the multiples already pricing across the board, especially with growth stocks that have carried this market dramatically. Kevin said it well. Let's check back in on some of those fang stocks. You got Apple shares down about 3.10%. Microsoft shares this morning down about 7.10%. Amazon taking a hurting off 2.5% so far this morning. NVIDIA, the AI poster boy, off 1.6%. We talked about NVIDIA saw 500 bucks. That started at 300 bucks. You gave up almost $100 from those highs. Keep in mind that you can give up an extra 100 too. And not spreading fear, folks, but context is important. It's important to remember how fast and far this market has risen, even in the face of rates. And it seems like the narrative has been, okay, we're almost done. Okay, we're almost there. We're gonna be looking for cuts soon. And every time we go forward to the next Fed meeting, it just keeps getting pushed back further in terms of when those cuts are coming. All right, Bank of England. So they keep rates unchanged for the first time in almost two years. It was a close one, split 5.4. Andrew Bailey casting the decisive vote. And let's jump over to the pound. See how we're trading on that. Get the pound US dollar at 1.2270. You were at almost 1.25 yesterday. We'd jump over to the Euro US dollar right now. With some currency action, 1.0651. We're at 1.07, dollar strength, man. I tell you, I was appreciating the higher dollar when I was in Europe. That's for sure. I was able to save a little bit of cash as we got the dollar with strength versus the Euro in particular. And what else we got pulled up here? Let's see. Yeah, the march is on. We'll check in on some of the auto makers and see how they're trading. And if you're in the market for a car and you're in the market like right now, go get a car, man. Cause I don't know how this is gonna play out. If you're not willing to wait a year or two to buy a vehicle again, I wouldn't be waiting for these car makers to make sure they're okay, because the battle is on. And you're seeing this play out across the board. And this is a generational opportunity for some of these workers in unions to really try and press their leverage against some of these companies that have made a lot of money recently. So, doesn't mean it's not gonna happen, but protect yourself. You know, if you're really in the market for a car and you're not willing to wait if things go bad here, go get yourself a car. Cause I wouldn't be waiting. Cause there's nothing to say this might not play out for an extended period of time. I mean, these headlines write themselves, right? The auto workers say the new offer doesn't look good. Is the AI right in these? The Jeep and Ram car maker, that's Delantis, submitted the fifth offer to the union. GM also struggling to find a deal as the strike set to expand. I think that's coming this weekend, right? Lacks job security guarantees the union wants. And this is where things go much deeper than the pay. Okay, so my mom was a worker for Verizon. So some of this playing out when she was on strike the years past, she's retired since then. We're gonna come into the break, but we'll finish it up. But there's a lot that goes into the details in terms of what is their ability to hire workers, fire workers, close plants, make people travel extended periods of time, almost forcing them to quit, et cetera. The devil is in the details, as always. Stay tuned, folks. Markets off 41 will be right back to finish the show. The gold report, as a precious metal gold is still king. It continues to hold the most effective safe haven in hedging properties across the global major trading hubs of the London OTC market, the US futures market, and the Shanghai gold exchange. The gold report. Tom O'Brien publishes his weekly gold report every Monday morning for subscribers, consisting of coverage of the XAU, HUI, GDX, the dollar, bonds, the South African Rand, as well as 25 different mining equities with specific buy-sell recommendations. The gold report. New subscribers get a 30-day money-back guarantee so you have nothing to risk. 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Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com, educating investors. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit watch Tiger TV. At TFNN.com and hit watch Tiger TV. Back, folks, and just like that, we're at session lows. Basically, we just hit 4403 in the S&Ps. You're off by a full percent in the S&Ps. We're rounding. Nasdaq 100, you're pushing 1.4% right now. Dow off about half a percent. How about the Russell off 1.4%? Crude continuing higher, almost just hit $91. Where do we get up to? 90, 98, we're pushing highs. Crude up a buck 11 on the session. Gold contract off almost $32. We keep our eye on the dollar index right now. 105.56, we check in on yields one last time for the program. With the 10-year pulling back within a few ticks of the lows at 108.08, we're at 108.11 on the 10-year. You jump to the two-year right now. 10.108 on the two-year. And yeah, be careful in this market, as you say it. One last data point, jobless claims this morning. 201,000, the lowest level since January. I mean, how's the Fed gonna tame inflation? Maybe crude prices help, right? Maybe you got crude prices in there helping. But the double-edged sword is, is bad news gonna be good news, which is gonna turn into bad news, which is good news, which is bad news? I mean, I joke with, you know, how many levels deep do you go? You can level yourself into obscurity in terms of where is the level that matters, okay? But the bottom line is, we need to get inflation under control. This market has been euphoric to the upside. We're now gonna have an area where growth is persisting. We have higher crude prices, which are gonna weigh on the pocketbooks of everybody. You have student loan payments beginning at the same time. And we have markets with multiples that have defied reality. And so how do those play out for the final quarter of the year? Oh, folks, I had money in this market and I had locked it in all the way up to 4,400 or 4,500. I'm not looking for 4,600 or 4,800. And here's the kicker. Okay, the kicker is when you're getting 5.5% on your money risk-free, you can go out two years and you're pushing 4,800, okay? You're pushing those levels as, you know, I've said enough. I appreciate you joining me, folks. This is quite a market. Stay tuned. We got a man Basil Chapman coming up next. As I speak, you got markets at session lows with the S&Ps pushing 4,400, NASDAQ 100 off 216 points. Appreciate you joining me this morning. I'll see you tomorrow morning as well. Stay tuned, folks. Live programming, all day, Basil's up next. Have a great one.