 The following is a presentation of TFNN, the morning markets kickoff with your host Tommy O'Brien. Good morning everybody. I'm Tommy O'Brien, coming to you live from TFNN Wednesday morning just after 9am Eastern time. We got about 24 minutes to go until the start of training and you have markets pretty mixed right now. S&P is negative by five points. Last night though, 10pm Eastern time, you accelerate to 3883. This rally almost 40 points I think. What we get to at a high above four in the morning, let's see what the high print is there. You're talking about a high of 3922, the low overnight 3883. So basically 1% from the lows to the highs overnight this morning though from the close of yesterday, basically flat. So look at the action right from last night, you close out at about 3910, you dive down almost 30 points, you trade up 40 points, you give up 20 points and you basically come into the opening bell almost flat. NASDAQ 100, volatility continuing yesterday, you were at about 12,200, you trade down to an 11,921 price point, same time premium about 10pm Eastern time last night. You're trading basically flat right now at 12,021. We get the Dow negative by 50 points this morning, 31,117, Bitcoin, you talk about an acceleration man from 19,800, 18,360 overnight, we're trading right now technically positive on the session, but boy that was quite a sell off yesterday, Bitcoin, putting Bitcoin on the daily, decisive break man, even well below where we were on June 30th, 18,360. And backing this up even further, I mean you are through everything from where this thing rallied in 2020. You're talking about back to almost two years ago, December of 2020, that's before you got that double peak up to 69,000, up to 65,000 back in April of last year. Now this thick blue line here on the chart, that is where futures went live, and you're going to go back even further than that, we'll take it to a, does a five year get us there? Five year gets us there. Futures go live December of 2017, and as you see below where they went live below the recent lows of June, dicey scenario, now we're back above that area, but you just made a low of 18,360, the previous low was 18,525, so we actually got below that level. It would be interesting to see how today goes. S&P is still sitting at 3,900, we got a lot of currency action, we got a lot of commodity action, there's your weekly on crude, let's put it back to a daily for the year, and we got a decisive break in crude as well. We got currency action all over the place right now, crude off 1.5% impacting I should say currencies all over the place, quite a decisive break, we'll be talking to our man Teddy Kegstad coming up at 40 past the hour, so about 30 minutes from right now, we always talk some crude, we'll talk some currencies as well. Gold contract sitting down about $3 now, here's what I will say about gold, a few gold bulls out there, we're at a pretty decent area for support in gold and you're going back more than two years, really you could go back, you could say that this got into that acceleration for that consolidation area of about 1,700 to 2,000, you basically got into that area which is remarkable, right after the pandemic, now this is where it actually traded lower from, let's just zoom in on this for a second, starting off the pandemic in 2020, gold and this doesn't mean this is going to be the case folks, but you have a dollar surging, we're going to go over currencies, pretty interesting how important is probably a good word currencies are right now to everything going on, I didn't used to do currencies in kind of the top of the show market wrap as we jump around, but boy you got to go over them, you got to go over them with what they're doing today, we're going to talk to our man Kevin Hinks coming up at 18 past, so eight minutes from right now, Kevin said yesterday, I'm going to ask him again today, seems point on with the action so far this week is going to be about currencies man, it's going to be about currencies, how they move and they are moving today, now back to gold, okay gold, you sell off on March 9th, this is the weekly chart we're looking at here, okay, gold tanks with every other asset across the globe as the pandemic begins, March 9th you tank from, where do you tank from, 1700, an area of resistance potentially turning into an area of support, okay, so you trade lower, what happens, you plow right through that area, now point being we've been in 1700 price range since April of 2020 folks, two and a half years that's been an area of support, yes you can break below it, but at least if you break below it you have a plan, maybe you set your stop somewhere below this, maybe you even give it everything it has in terms of below any type of low, 1673 is the low from March of 2021, 1671 is the low of June of 2020, before that you're talking about price action, 1666 is where you go for April 2020 and 1666, what is that, it's only about $45 below where we're trading at right now, not that bad when you think about the play to the upside even if you're just playing to the top of that consolidation, now here's what I'll say, let's jump, well before we do let's go to notes and bonds first because there's a decent pullback, there's your weekly, let's put it on a daily to see the full context here, we'll zoom in, you're talking about since August 2nd folks, it has been lower price and higher yield coming at you in a big way, now this morning a little bit of a reprieve in terms of we were as low as 115-13, you're up to 115-25, quite a sell off yesterday, you back things up and it happened pretty much pre-market, but 7 a.m., yes 7 a.m., you're up at about 116-10, so you have the 10 year trade down almost an entire full point from where you were at 7 a.m. to where you were at about 10 p.m. yesterday's action, okay let's jump over to the dollar index, TXY, 110-78, I mean this thing is just, it's across the board man, but look at this action, from August 11th you were at 104, folks, remarkable and this is a nice example of sometimes how an area of resistance turns into an area of support, right, what happens, you accelerate to about 105, you give it back a bit, you come through that area, you come back and where do you come back through to, you come back to 105, now maybe you would have come back to this area, but you're talking about an area between 105 and 105-70 and what happens, you bounce right in that area at 104.64 and you're up pushing 111 almost on the dollar index, now we talked about gold, okay we talked about gold potentially being at the bottom of a consolidation, if you expect gold to bounce, folks, you would like to see some pullback in the dollar yen and you don't want to see this thing go from 140 to 145 over a period of two days, now here's what I'll say, the yen going from 140 to 145 over a period of two days and the gold contract over that time trading from 1735 to 1708, you could see a much larger move maybe, usually outside of these types of circumstances, you ever see a five-point range in the yen and maybe we'll ask our man Teddy about this because I would expect gold should probably be getting punished even further with what's been happening with currencies, with what's been happening with the yen, in particular we jump over the euro, all right you're going to see much of the same man, euro, what are we at right now? 98.9, the euro, lower price in terms of below parity, below 99 now, there's your daily, we put it on a five-minute action and yeah, you're challenging basically the lows we had of yesterday, 98.6, we're at 98.9, that's where you were early Monday as futures were trading over the Labor Day weekend, euro, US dollar there and we jump to the pound, US dollar as that continues to get clobbers, pounds weaker man, I just showed you, so you saw that the euro right was back to similar areas it had been in, euro not quite back to Tuesday's low and sitting just above Monday, but check out the pound, you're below all of that, pound just keeps breaking out, pound, 114.13, you put that thing on a year daily, the only saver there might be that you just could bounce off that bottom channel line, but that is quite a channel. Stay tuned folks, we're coming back with our man Kevin Hicks from TD Ameritrade Network, we'll be right back. Vista Gold owns and operates the largest undeveloped gold project in Australia, the Mount Todd Gold Project. Vista Gold just completed their feasibility study resulting in a 7 million ounce gold reserve. Vista Gold has all major permits approved and has retained CIBC capital market assistance in evaluating alternatives and in completing an accreted transaction. Vista Gold trades on the NYSE American and TSX under the ticker symbol VGC. Vista Gold executing a strategy to create shareholder value. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. 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There's no catch 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 get the S&P futures negative by three right now. NASDAQ 100 positive by 10 points right now. DAWA 44. Pretty tame action so far but not in the currency world folks. We got the dollar higher. We got action everywhere. Let's jump over to our man Kevin Hicks. Every trading day folks 12 noon Eastern time fast market from the TD Ameritrade Network right here on Tiger TV 12 noon to 1 p.m. Eastern time. Every trading day folks check it out. Kevin Hicks. Good morning. Good morning Tommy. You know this is a market struggling yesterday with the higher US dollar which we have more that today. The higher yields we have a little less of that today. Yields are actually down slightly. So where yesterday higher yield higher dollar really weighed on the market and took any hopes of a rally kind of off the table. But they're doing less damage if you notice Tommy. I mean you've got the NASDAQ actually up this morning even with the dollar up. But yields are lower. So you may have you may be hitting a little bit of selling exhaustion here. Remember you come down now seven straight days in some of the some of these indices. They're getting really close to oversold. And so you may this overall market is trying to figure out who's the most hawkish the US or the Eurozone. And that will affect the dollar. Things are getting a little stretched here in terms of currencies in terms of yields. This is going to be fun to watch play out over the next two weeks. I agree man. You know I I woke up this morning. I'm checking out the markets and I agree that you know I'm looking at the yen Kevin I saw I think 24 year low the yen and it's pushing even as we're speaking man you're pushing 145 this morning even from where we were. It's remarkable August 2nd. You were 130 and this thing was already on fire. Some of the moves though not as exacerbated as they could be even I look at gold gold usually gets hammered when you have a strong dollar like that especially versus the yen for whatever reason in gold pullback 20 bucks maybe 30 in more normal times and not a great word but I think people can understand and more normal times Kevin you had this type of currency action. You'd see some larger impacts. You know I'm a gold trader. We got the gold report of course. So I'm always in tune with that. My dad that thing used to get clobbered man. So is that something to the similar degree what you're talking about is and we're seeing some pretty hefty moves but not quite the reaction that you normally see maybe in the market just kind of a little exacerbated and at a potential turning point as you get up to some pretty parabolic highs especially in this currency market. Yeah I mean let's talk about the two things you talked about number one the Japanese yen. Well Japan has come out and remained dovish right and in the relationship trade between the US dollar which is our central bank is extremely hawkish. Their central bank in Japan is extremely dovish. You can see why that relationship is going where it is. Now let's talk about gold with the rising dollar that negative inverse relationship between the dollar and gold is struggling here to hold up because it just looks like there's some unwillingness to sell gold futures any lower than here. They may be looking at some type of it touched oversold right around the end of August September 1st right around that area. And so it's been holding down here Tommy and me remember if these are the highs on the US dollar and if the dollar were to correct anytime this week you should see a pretty big rebound in gold futures. So yeah you were you're watching those you're right with Tommy with a strong dollar and unwillingness to sell gold. That's information that traders should realize and pay attention to. I appreciate your take man. Things are going through my mind. I just like running by you sometimes to get your opinion as well. It doesn't mean it's always going to play out that way. We know but those are you know pay attention to them folks because they matter when those things are not moving as they normally would in more normal times. We go from that Kevin. We are in Wednesday as we come into next week. We get CPI data but you mentioned it even yesterday. You said it pretty well. It's continuing today slow week but maybe the currencies and the action in yields drive the action. That's it so far. But what are you guys talking about our fast market at 12 o'clock coming up today. Three good names to look at. Talk about Netflix. We'll trade that and then earnings about in our age. Like fully you'll do presentation on our age. The old restoration hardware and then we'll look at McDonald's with everything going on in the world. How is this. How is inflation. How are higher wages and all these effects on business affecting McDonald's. So we'll trade Netflix our age and McDonald's today. You could say two two semi fallen angels at least their charts look that way man with Netflix bouncing a bit this year. But still boy I got like a five year weekly on the thinkorswim platform and that is quite a sell off and restoration hardware almost almost does Netflix one better trading from 744 down to 243 back to basically pre covid levels pretty remarkable with what went on with housing furnishings and all of that throughout the pandemic they come back and give it all back. And of course McDonald's though one of the strongest stocks man performing pretty well this year at about 254 right now they look to open it down about 40 pennies. Well Kevin we appreciate the conversation as always man. We'll be watching at 12 o'clock today. We'll talk to you tomorrow. Thanks for having me on Tommy have a great day. Always a pleasure folks tune in every trading day. You heard the three equities they'll be talking about and we got a VIX right now jumping over the VIX sitting at twenty six ninety five as high as twenty seven eighty yesterday. So you got some volatility premium in these markets man especially if you're looking at options. Now as Kevin mentioned the cool part when they're going through some of these equities folks especially this time of the year right we're coming into the end of the quarter. OK so we got two three weeks here low on the earnings volume before we kick it into next year for the next quarter. But what they do is that they set up trades maybe with a little bit of a longer duration maybe a little bit of a different market bias versus the stock versus just gearing some of those trades around earnings. So be interesting to see what they talk about Netflix restoration hardware both strong companies man but well ahead of themselves in multiples and McDonald's. We did have some McDonald's in my newsletter at one point and I'm selling it for a profit sometime in the near recent past to a degree. But yeah you check out McDonald's man down to two seventeen. You look where you open the year. You're still down sixteen dollars from that two seventy area or about so what's that six seven percent down for the year. But you would just flat over even for the year within the last week. So overperforming the S&P for sure McDonald's two fifty four thirty nine from Mickey D's and they had decent earnings last time around as well. Yeah about a month and a half ago. All right let's jump around see how some of the fang stocks are trading. Kevin mentioned it NASDAQ 100 actually in the positive right now with everything going on. And you got Amazon basically flat as we look forward it's going to be a big day for Apple. We'll talk about this a little bit when we got back. They have their show going to be announcing their product launch up about fifty cents for Apple to one fifty five. They traded down to one fifty three sixty nine yesterday for Apple. We jump over to Microsoft shares going to be opening up a bit. There's Microsoft. So Microsoft one of the stocks given the NASDAQ 100 a lift. We jump over to Google shares Google slightly in the red. We jump over to Tesla Tesla two seventy three ninety six. Let's jump to Twitter. Twitter shares thirty eight ninety three as that saga plays on. We jump back to the dollar index. Well we got a little bit of a reprieve in most days this would be a huge move when you talk about two hundred ticks from where this thing was just at eight a.m. one ten seven one ten seventy seven one ten seventy eight excuse me down to one ten fifty nine right now. But yeah that yen. And that's why I ask Kevin folks you know pay attention to some of those relationships because what tends to happen is when the yen is this week and when the dollar is this strong gold priced in dollars will come down in price especially when you have this type of move. OK. Well that's not happening. What does that mean. As Kevin said maybe no one's willing to sell gold seventeen hundred because maybe they maybe they think this is dollar peak and maybe they're not going to sell when they know the risk reward of a dollar peaking out sometime in the near future. Maybe. Right. But watch those. We'll see what happened. Stay tuned folks to come back for the open. Booming inflation. We are purchasing powers eroded. There's no better place to protect your hard earned money than ain't gold. This the gold's flagship asset is the Monk Todd Gold Project in the Northern Territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world class gold project in a tier one mining district. This is a large scale low cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction. This the goal just completed the Mount Todd feasibility study which resulted in a seven million ounce gold reserve in a 16 year mine life. 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Live every market day from 830 a.m. to 4 p.m. Eastern. For free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be. TFNN educating investors. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks. We got markets open. You're looking at an S&P open negative three points right now at 3906, just above 3,900. We were just below that level in the last hour or so. We have the NASDAQ 100 only indexed currently in the green of 21 points down negative by 30 Russell negative by four. Jumping back to, we're going to talk a little bit of currencies. OK, now you jump to first. Well, let's talk about this as well. When you talk about currencies, folks, right? And we hear a lot about currencies right now. We've been hearing a lot about currencies, all right? Whenever you thought about President Trump, he did not want a strong dollar because it's very difficult when you're dealing with the strong dollar, right? Sometimes the American companies that base their earnings off of American dollars and they're doing business in other areas of the world, they get impacted severely. But if you think about it on a global perspective that spans decades and generations, this is my opinion to everything, of course you want the currencies that you hold to be more powerful and worth more than other areas of the globe because those currencies, OK, the world folks, it runs off technology and it runs off commodities because commodities are life, OK? You can't build anything without commodities, no matter how much technology we have going on, OK, you can't build anything without the materials that make up for it. Now, you know, chips are becoming a commodity that is going to be one of the most important. But we're seeing a play out right now as a strong dollar will impact the earnings of American companies. No doubt about it. That could impact the stock market price of those market capitalizations. But guess what? The world is in trouble right now because we're coming out of a pandemic, there's supply chain shortages, there's human capital shortages, OK, across the globe, inflation is raging. And where are we and where is everybody else? And why are we there? Because we have a strong economy because the Fed is not afraid right now at least and they're definitely late to the party to hike and to say that they're going to do it aggressively to make sure, OK, that those inflation tendencies get under control and why can we do that? We can do that because our economy is strong enough to handle it. And this comes back to energy as well, OK, we draw a lot of oil domestically versus Europe and the trouble that they're in. So keep it in mind anytime. It's very easy to want a weak dollar and think about how if you have a weak dollar, right, everybody's going to want your stuff. OK, but everybody just wants your stuff because it's so cheap because their dollars and their currencies are worth so much compared to yours. And in the long run, that is not a recipe for success, man. It's playing out right now. And I don't think it's over, you know, and the market doesn't think it's over yet, man, with the way this is playing out here is where we'll finish this conversation. The market is not going to wait until the Fed completely hikes. OK, all the market has to do is figure out where the Fed is going to go and make that decision. I would say that a lot of what the Fed has said they are going to do is getting priced into this market right now. OK, these currency moves when you have the yen going back twenty four years now, I'll tell you a quick funny story about the end, not funny, interesting story about the end. I was very fortunate, went to an amazing high school in Deda, Massachusetts, Noble and Greeno. And when I was there, they offered Japanese as a language. You had to take a language as one of the components there. I started that school in nineteen ninety two as a seventh grader was there for middle school and high school, took Japanese for all six years. Fortunately, don't remember a lot of it at this point because I haven't used it over that time as well. But I was fortunate to take an exchange ship over to Japan and I'm trying to remember the year and it wasn't. But if you zoom in on the action here, I think it's going to be now. It wasn't at this area, but I remember going over there and what was happening was I think it was in maybe 97. OK, it was in a summer. So maybe it was some time in 97 98. But what it happened was my dad was telling me and I was just becoming aware of finance and currencies exchanges. The yen had run pretty dramatically during that time, even from where it was over the last three, four, five years ago that I was going to get a decent conversion rate at least where it was. Now in, you know, 89 it was well above that area. But you see where we are right now, folks, which is crazy. We are right back to then, man. We are back to basically right when I graduated high school, which is crazy enough. Talking about June of 1998 on the end, you go from 144 and really the acceleration happened in 2007 down to 75 up to 144. But folks, look at this chart. Look at this chart going back decades upon decades upon decades. Okay. Now, yeah, we were way over there at one point. But I'm just zooming in on the action from 1988. Okay. And you're pushing those levels, those levels at 160. Can we get there? Of course we can. We just straight from 140 and 145 over the last two days. But at some point, this will become parabolic. And I imagine right now, everybody knows that Europe's in big trouble. Emerging markets are in big trouble. The US is going to hike aggressively. Yields are on the rise dramatically. The dollar index is through the roof. The yen has weakened to 24 year lows, right? The Fed does not need to act for this to reverse as in it doesn't need to be a cutting cycle. Okay. That doesn't mean it's going to play out. But that's how you should be thinking about it, right? When is the market going to have priced in everything they think is going to happen? And not when does that stuff actually happen? When does that shift actually take place? No. When does the market price in that that's going to take place? It's a little bit of the mentality of the Fed doesn't really need to raise rates if the market thinks they're going to raise rates, right? The Fed doesn't need to hike all the way through 2023 if the market thinks they're going to. And that alone pulls numbers back fast enough that inflation is tamed. So wrap your head around that one. But these are pretty parabolic trends right now. We jump over. Now, dollar index isn't going to go back. Yeah, it goes back to 2001. A pretty similar trajectory in terms that you have to go back almost at least 20 years to get where we were at that point, 121. And maybe that's where you get in the dollar index. Right now we're at 110. That would be quite a movement. And we jump over to the euro, euro, US dollar, pushing 99.16. All right. S&P is catching a little bit of a bounce. And we'll talk to Teddy next segment. I jumped around to some of those coming come currencies. There's a precursor, but I can't help it right now, folks, because there's just such large moves in this market. Interesting to see where Teddy thinks. So we had a peak. Are we peaking potentially? I mean he's talked about your US dollar potentially in the 90 area. And don't put it out of play, folks, because we went to 98.8 like nothing. And these moves are pretty well intact right now. So far, we'll see. All right. Oh, man. And look at this moving crude. All right. This is going to be a good segment coming up with Teddy. We just got an 82 handle, folks. An 82 handle. 83.49 for the price accrued right now. Let's jump around some of the fang stocks. See how we're opening up. Amazon catches a lift as all the markets do right now up about half a percent. We jump over to Apple ahead of their big day. They're up as well about half a percent. Microsoft up six tenths percent. And that's as you have the NASDAQ 100, all that. All the big tech stocks up with the NASDAQ 100 about six tenths percent. And as we come into this break, I'm going to jump to this. Yeah, this article. Now this is talking about global stocks. OK. They're in worse trouble than the US is. The US, of course, included. Goldman talking about stocks yet to make a decisive low globally. And boy, you talk about the global gauge. That is the MSCI AC World Index, right? We're almost right back at the lows of June, man. OK. Now the S&Ps are about 300 points above that price level still. Not so much with the World Index pushing those lows. And yeah, more pain maybe to come. Stay tuned, folks. We'll be back with our man, Teddy. We'll talk some forex, some commodities, some currencies. We'll be right back. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? 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We got crude trading with an 83 handle. Let's jump over to our man, Teddy Kegstad. Folks, you can check out Teddy's newsletter, the Tiger Forex Report right under the Newsletters tab at the front page of TFN.com. All our newsletters come with a 30-day money-back guarantee. I'm not sure there's been a time that I've at least been as interested in currencies and how they're shaping this market and we're seeing a play out today and this week right away. Teddy Kegstad, good morning. Good morning, Tommy. So where do we start on today, man? We got some movement across the board. Currencies, yen, dollar, crude with an 83 handle. What are you checking out this morning, Teddy? Where do you want to go? Well, I would say first of all right now that you got to view what's happening currently as we're speaking, I think as a profit taking bounce, you got to realize the markets have been open for already almost two days, even though everyone else came to work three days, actually, and now everyone came to work yesterday. You know, so we had a lot of follow through yesterday. I mean, if you look at where the bonds were at a high yesterday versus where they're at now, I mean, a half a point, half a basis dollar balance isn't a big thing. It's right now. I think they're squeezing out the the weak shorts and the weak longs in the US dollar right now. Yeah, it is pretty interesting. Some of the relationships that are going on at these like exacerbated lows and highs. How about how about the yen and what's going on there? I'm not sure if you just heard the segment, man, that I took Japanese. I was over there. The yen was had some volatility back then in the late 90s. And I can't believe that we're basically at the price level that I graduated high school in, which is crazy enough, nineteen ninety eight on the yen. What do you think of this move? Are we reaching a potential peak here or one forty five? It's pretty crazy. Oh, I think it's going parabolic, my friend. I mean, like right now, this is absolutely ridiculous. I mean, anyone who read the report, you know, on Monday or whatever, knows that we've already hit our targets. So we are looking for one forty two and one forty two and one forty three area and at least see a little bit of a breaking of, you know, on the on the rally. But this is, you know, what we've been talking about. I've been mentioning the velocity of money and it's starting to really ripple into the foreign markets. You know, and you gotta realize Japan doesn't just deal with us, you know. So as these other countries, currencies are collapsing versus dollar. It doesn't help them either. You know, so and I think it's being very reflective. I, you know, a lot of people say that they should become hawkish to protect the end. Well, there's a reason why they're not becoming hawkish because being hawkish causes inflation. So they can't go. They can't go down anymore. So they're not going to go up. You know, I know people don't believe that view of it. They follow the Fed. But I mean, look at the three precautions of what's going on with what the feds been doing now for a year. You know, so I mean, there's a reality. You have to bring facts or facts. You know, it's not a big one issue. Yeah, you know, and it's pretty. It is pretty crazy that we're almost approaching that year, man. Right. In terms of the final quarter of last year, the markets kind of defied the expectation. And then January 1st. But we're already into beginning of September. And it seems like it's been turmoil and negative market action and Fed anticipation. And we're almost approaching like a year from that type of mentality. Right, right. Well, a year ago, when I was already preaching, get along the US dollar yen is going to be a big trend. I mean, I think what's going on over the past couple of days is really is I think solidifying my view that, yeah, the the velocity of money is is actually collapsing. You know, and it's because of what's going on. Look at how the bonds have traded just since Sunday night. You know, I mean, like we had a lot of market action going from Sunday night into Tuesday morning, let alone yesterday's trade. You know, so I mean, and this is without the numbers. This is just a free trading market. This is without the Fed meeting. It has not occurred yet. We know what the bias is. You know, we know we have CPI coming out. I bet you CPI will be very similar to last last month. It's probably going to be still higher, but it's not going to be at the increasing rate that it has been at. But that doesn't mean that it's not inflation is being curbed. It's just that velocity of inflation is being diminished a little bit. You know, so but the trend remains intact. So I would use a lot of caution right now fading the dollar. I think you want to be in a buy dip scenario. And right now today, I wouldn't doubt it today. We see another snap back and you could see the yen making new highs, the Swiss rank making US dollar, Swiss making new highs. The Euro, they're waiting on to see if the ECB is going to start to become hawkish. I don't think they can afford to be, to be quite honest with you. I think they're going to try and put as much pressure on our Fed to put the brakes on because these central banks know that if they start doing that, it's just going to hurt them even more globally because all it's going to help them is against the US dollar. So, OK, if their import or their exports, meaning our imports, that helps them becoming hawkish, but then they screw all the other countries that are being decimated by their currencies, valuations. So the Fed is creating this whole turmoil. The reality is 80% of all transactions are done in US dollar globally. What is the one, what is the who has to make the move? We have to make the move. And that's not happening. At least I would be stunned. I mean, do you think the chairman, how it listens to what I'm saying right now? If he does hear it or gets somebody whispering at it, he's like, I don't want to hear that. I don't want to hear that. That's nonsense. But I'm not an economist. So what do I know? All I know is I make money off of the trends with my points of view. Yeah, listen, and we got some trends, man, for sure. How about the trends in crude? We got an 83 handle today. And so normally, right, before 83, geez, 82.93 I got down to. We're trading at 83.67 right now. Now, usually Teddy, right, the US is an oil producer. So if we had lower oil prices, normally that would be hurting the dollar, right? Versus maybe even versus the yen in particular. But is that just not a big enough factor right now with crude? Or is that a relationship that plays out? Am I correct on that relationship usually? You are 100% correct on it. Now, here's what I think why what's happening in crude. I live in a very dense area, the Chicagoland area. We just had Labor Day weekend. Labor Day weekend is typically, the parking lots aren't as filled up at restaurants. You don't need to worry about reservations because a lot of people are out of town. They're traveling. But the reality is Labor Day weekend wasn't really any different than any other normal weekend around lately. So, and what I have noticed is that traffic is very thin. People aren't driving around. Like if I go shopping now, like I can go now at like six o'clock to Walmart in the evening and I don't have to worry about a mess of people being there. The parking lots are not empty. But they are not full by the way they usually are. You know what I mean? So people are not running around. They're doing all their shopping in one loop. They're not going out, coming back in. You know what I mean? I think that the reason oil is right now riding the lows is because the demand in the US is shrinking because of the usage. Not because people don't want to drive, but because they're doing that kind of a thing. You know what I'm saying? Like, how many parents do you think are saying, okay kid, you know, their teenagers just drive around and go run around and see their friends all afternoon? You know, they're gonna be like, hey, either you get a job and pay for that gas or you can forget about it. You know? So, I mean, and I think that's the reality is that right now the demand, I mean, is just not being the way it normally would be because of the pricing. You know, people are scared. They still have to, when they go shopping, they're like, okay, here's the choice. Do I drive around and just waste time and money or do I pay for these groceries that are now 50% more? You know? Oh, the grocery deal, man. Let me tell you, I've been talking to friends. I don't really use Insta, I used to, I was using InstaCut often, and especially during the pandemic and, you know, baby on the way and all that stuff. But when you add percentages on percentages on percentages, man, it's just rationalizing it. Very difficult at this time, especially with the rising number and the food prices. It's a big one. Right. Well, Teddy, we appreciate it as always, man. Always an adventure. We got crewed in 8330. We got some action. Can't wait to see where we are one week from. US dollar bull is not going away, baby. Dollar bull, gotta love it, man. King dollar. Teddy, we appreciate it, man. Have a great week. We'll talk to you next Wednesday. All right, take care. Folks, check out the Tiger 4X report under the newsletter tab. We'll be right back after the break. 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 Tigresses for just $1 for the year. There's no catch or added costs when you join our community of traders. In the Tiger's Den, you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas. 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Larry will also provide daily charts, videos and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com, educating investors. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks. We've got the S&Ps up about 10 points right now, trading at 39.21. We were as high as about 39.30. So a little bit of volatility to the upside. You give it back a bit. We're trading right now basically where you were at about 4 a.m. Eastern time. NASDAQ 100, we're up about 70 points right now. We check out Apple ahead of their big event up about 6 tenths percent, 155.41. Amazon shares this morning up about 3 tenths percent. You heard the stocks that they'll be talking about, folks, folks on fast market. We got Netflix, they're up 1.1 percent so far this morning, talking about restoration hardware. They're up about 1 percent as well. And then they're talking about Mickey D's. And there's a pop for you up 1.4 percent. Mickey D's, not a bad dividend there as well. This thing's held up just super strong this year. You look at where we came into COVID at 2.12. You're up 25 percent from that price level on a strong dividend stock. So you think about a risk reward coming out of the pandemic. You're sitting at 257.90, 2.12.38. The one thing I'll say, folks, we talked about commodity prices. So as mentioning Instacart, Instacart, an absolutely great service, but it's expensive as heck. And when it, you have commodity prices, you have food prices rising at an obscene level on some degrees. And then what Instacart does is they basically price each item up approximately 10 percent or something. So if something's $5 at the grocery store, you're paying $5.50 on Instacart. But then of course they add a fee. And then then you gotta tip the driver, because of course you do, because they're working for their income as well. And it's just an obscene amount of money. Now here's what we ordered, Uber Eats. It's becoming a similar deal with Uber Eats, man. I used to be a huge Uber fan, and I still am on that stock after it's gotten decimated to a degree, but they have some problems as well, man, because I ordered Chipotle on there, and Chipotle is a little pricey. Folks, I ordered three burrito bowls. Okay, yeah, I had to guac to one of them or something like that. Nothing crazy, okay? Three burrito bowls. Maybe I had to guac to one of them. There's a few dollars here and there. $60 to get delivered. Six zero. That's not gonna fly, man. You know, I did it because it was the weekend, but that's not gonna fly at all. So they get some issues dealing with rising costs and how that's gonna impact people's ability to pay that extra fee for convenience. Stay tuned, folks. We got a man, Basil Chapman. He's coming up next. Steve Rhodes at 11, Fast Market at 12, Larry Pezzavento, Dave White, Tom O'Brien. Have a great Wednesday, everybody.