 The following is a presentation of TFNN the morning markets kickoff with your host Tommy O'Brien Good Friday morning everybody. I'm Tommy O'Brien coming alive from TFNN just after 9 a.m. Eastern time We got about 24 minutes to go until the start of trading and we got markets right near the highs of yesterday Slight negative action this morning. We had some strong earnings from the banks, man Got some tough announcement from Boeing. They'll be pausing 737 max deliveries They got some issues there bowing down about 5% to kick things off markets barely in the red this morning We got retail sales to get into let's take a look at the S&P's right now S&P's negative by about eight points. We put it back to a five-minute chart There's your volatility on the retail sales number up to 41. What's it 41? 177.50 and we've backed off a bit kind of right where we were to about 6 a.m. This morning Nasdaq 100 We're backing off a bit. We got some movement in notes bonds dollar all over the place this morning Tech stocks growth down about seven tenths percent. We got the Dow negative by 29 points the Russell negative by just one Crude 82 25 this morning you jump over to gold giving back some of the gains There's your volatility on some of the currency action on gold. We're up to 2060 and change yesterday Boom you spiked to 2032. We're trading at 2039 gold down 16 dollars right now And let's get into notes and bonds. There's some action for you on the retail sales number From 115 19 Down almost a full point and folks it was down a full point check that out from where it was at 6 10 a.m This morning 15 23 make it a 114 23 spike. We're trading right now 1501 on the 10 year the 30 year down 24 ticks and volatility there sitting at 131 You jump over to the dollar index Reacting as you may expect as we got some lower price higher yield That's going to put a little bit of a bid in the dollar index you go from about Just under 101. We're trading a 101 22 It's been quite a fall off for the dollar index this week from almost 103 to kick things off on monday You traded down two full points in the dollar index. We're catching a little bit of a bid today We jump over to the vix 1796 we got a 17 handle in the vix man. You put the vix on the daily you back it up You talk about right near the lower boundary line of where we've been on this vix going back a year You back it up even further than that And you're talking about low levels, man Nothing like we saw almost at all last year We saw it once on one occasion in february And yeah, you got to go back to when this market was really accelerating to highs And you were getting vix's Of what yeah 15 and change. What was our low in 2021 1410 the low on the vix Nonetheless, you zoom in in the last two years since the feds men hiking and as you see pushing the lower boundary line on that vix And let's jump into the retail sales number retail sales report shows americans pulled back on big ticket purchases as interest rates rose It would make sense, right the cost of doing business when your signature is on the paper Uh, not worth as much as it used to be when rates were near zero Sales fall 0.1 in march led by lower spending on vehicles. Yeah, the estimate was for a decline of about 0.5 percent Purchase at stores restaurants and online declined 1 in march Sales were revised in february to a 0.2 percent decline Now that was previously down 0.4 percent And I believe the number they were looking for in there was 0.5 percent And uh, we'll jump into more of that as we get into the program. Let's see how bloomberg puts it out there as well And they got autos. Look at that nice beamer That's a solid one. I like that frank grillman Uh, us retail sales fell for the second month. You check it out in terms of where we are here Okay, changing retail sales month over month versus the change Excluding autos and glass and gas gas you exclude autos and gas You're at minus 0.3 percent autos and gas a huge chunk there, right? Uh, the value of sales at gasoline station slid 5.5 percent the most since april 2020 That's gonna reverse man. We've been talking about it. Okay, you see the decline But boy, you talk about a huge one in terms of the decline for auto and gas Market was looking for a 0.5 percent decline total. So it comes in at my minus 0.1 percent And yeah, you talk about credit card data now we get to get into the banks man They get some strong numbers in the banks. Okay, but these are the big banks They should be doing okay If anyone's doing okay in the banking sector some of the articles we were reading about earlier this week We're saying man, the banks are in trouble all but the big banks. They're in big trouble Some americans are starting to tighten their belt to stay afloat. Yeah So bank of america credit and debit usage decelerated last month to the weakest pace in two years as slower wage growth fewer tax refunds in the end of stimulus pandemic error benefits weight on spending um Sales at restaurants and bars the only service sector category in the report edged up You get that one services service sector category in the report the only service sector category in the port positive It's gonna be a wild one, man Yeah, so we'll break into it this morning, man But it's going to be wild in terms of how this market interprets it the last couple days, right? What's been going on? Well, you talk about huge reactions, man Wednesday, I mean For one moment. Just check this out folks within 25 pennies Within one quarter of one point of the high 41 77 75 you trade down A percent and a half by the end of the day Wednesday and yesterday you get it all back It'd be ironic if we gave it all back again today, man But that's how this market is moving a lot of uncertainty in this market And uh, you're seeing the equities react. So I mean ppi yesterday was a big number Okay, but we talked to our man kevin hanks if you didn't check out the program folks You can always go back and watch anything that we do right on our youtube channel Just search tfnn you can find the video you can find the interviews And kevin was breaking down the ppi man. I think he made a lot of sense. Okay talking about don't be swayed by the headline number, which was pretty astronomical I mean, what did it go like 4.5 to 2.9 or something like that? Maybe somebody has another den It was a four handle down to a two handle. Okay year over year on the ppi But guess what? That had to do with energy All right, and you're seeing it play out again today in retail sales retail sales dropping dramatically having to do with energy And car sales So we'll see how the market interprets it but nonetheless sitting at some lofty levels, man And just taking a look at some of the levels we're dealing with here Let's back it up for a second First of all, you don't have to be a master technician to see that we are bumping into an area of technical resistance folks Okay, doesn't mean we're going to hold it the one time we got above it And last year was in august before you saw the s&p's trade down 800 points Almost a 20% pullback over the period of about two months the last time we got over this number We got there once about a year ago in may we got above it in august before the dramatic sell-off We got basically right back to where we are right now in december. We got back to that area In january as well Okay, call it ice call it resistance call it whatever you want, man This market has faced some resistance at a price level of 4200 in the s&p's That's basically where we're sitting right now at 4165 now. You get a little bit of Shorter term time frame. You'd look some fibonacci's okay Where are we at? Well, if you take the area that we're at on march 7th And the reason why I like this march 6 and march 7th peak Is because that's where we were when chairman powell came in front of congress Okay, and he said we got to go higher for longer, man, right? And that's where you got a sell-off On the 7th and then you got the banking crisis that began on the 9th Okay, so you sell down from about 4060 you were up to 4080 on march 6th And where are we sitting at? We're sitting exactly at the 1 to 1.628 expansion of that pullback So you got a couple technical areas in here, man. Doesn't mean it's going to hold folks But to keep them on your radar and we will see s&p's down by eight points We'll talk about the bank earnings when we come back. 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Just visit the front page of tfnn.com Welcome back folks. We got the s&p's down about five points right now Let's take a look at some of these banks, man We'll go into a 15 minute chart in terms of where we're looking at first Well, I'll check this out, right? This is a chart of jp morgan you go back from october 101 you travel up to 144. What did we do folks? Pulled right back to the 382 and what are we doing? We just jumped right up to 135 this morning We don't have it on the chart yet, but just like that Always nice those fibonacci areas, man Doesn't mean they're going to work out But at least you get you back against the wall when you're making a trade Difficult to do on earnings day as you might get a pop one way or the other But there's your short term time frame action man jp morgan. What are you up? $7 right now $6 and 50 cents right now on this equity you spike to 137 66 And you know what you know what might put a bit in your equity folks If you tell the market that you're going to make 81 billion dollars from net interest income That's like It's going to say risk-free return and ain't risk-free Okay, but boy that is easy income man when you're talking about the fed just jack's rates They're getting interest rates on that they're getting net interest that they aren't paying out their customers And that number is up from just 73 billion is what they talked about in january So from january till now from quarter to quarter They're now adding eight billion dollars in income that they didn't think that they were going to make in january deposits climb 2% from the end of last year net interest income soared 49 percent in the quarter a bigger jump than analyst expected The bank now expects that figure to clock in at 81 billion dollars and there's no more millions folks. It's all about billions man The u.s. Economy continues to be on a generally healthy footings It continues to be on generally healthy footings. We'll say that again Consumers are still spending and have strong balance sheets and businesses are in good shape. Mr. Diamond said in a statement this morning, however The storm clouds that we've been monitoring for the past year remain on the horizon and the banking industry turmoil adds to these risks Well, they're navigating those risks pretty well. I'd say this quarter alone 20.7 Billion dollars in net interest income. What is that over 90 days, man? What are you talking about? What is that almost what 20? 200 million I got your simple math man 20 billion in in 90 days. My goodness. Yeah, you're just doing mammoth numbers on a daily basis Significant sources of uncertainty in its full year outlook Deposits, how about this one 2.38 trillion at the end of March compared with 2.34 trillion just three months earlier The influx of client money more than offset the drains from inflation and customers seeking higher yield alternatives Pretty interesting, man. Now they did boost their loan reserves. Nothing too staggering though 1.1 billion Is what they put in there They just made 21 billion dollars over 90 days in net interest income. Okay, so they added 1.1 billion to their loan reserves 868 million dollar hit for the net investment securities losses is what's in there revenue from the firm's market operations fell fixed income trading flat from a year ago equities down 12 percent And traders faced a particularly tough comparison after an accept exceptionally strong first quarter last year when market market volatility soared On the persistent inflation in Russia's. Yeah, I mean, do you remember what was happening the first quarter last year? Right. We had the Fed hiking. We had inflation really taken hold and we had a war beginning between Russia and Ukraine JP Morgan reiterated the adjusted expense guidance of about 81 billion dollars That it gave in January. So that's adjusted expenses Not bad matches right what they're talking about for net interest income 220. Thank you. I thought it was right around there My bank. I mean, it's just a staggering amount of money at first. I said 20 million said no it's not 20 million 220 million dollars per day and net interest income man These big banks and I've been saying it since the crisis man What are you doing in a small regional bank, especially if you have over 250 000 folks? Okay, you're not going to lose your money I don't think you are but you're not guaranteed that so why put that money at risk That's really one of the crux of it in terms of risk reward Right is the risk worth it to put your money in there and I'm gonna I'm gonna get you an article Give me one second man because you talk about banks. Okay, you talk about risk. You talk about excessive risk. That's unnecessary um Credit swiss They're bonds Come on. I gotta get it. Oh, hold on one second. Where am I? Here we go So you talk about it, man This is what happens when you don't manage your risk Japan's largest banking group Yeah, how about just 1500 clients alone losing 700 million dollars in the tier one credit swiss bond wipeout Yeah, that's like What 500 $1000 per client half a million dollars per client wiped out not small money, man 1500 clients now I'm sure that they're well to do clients. Okay in terms of who lost this money, man. Okay Um, but Mitsubishi ufj financial groups wealthy clients lost more than 700 million dollars on credit swiss Uh, the riskiest bonds riskiest bonds purchased through japan's banks brokerage venture with morgan stanley And they say they're they're huddling this morning They're trying to contact those customers. They're doing a little bit of damage control We are very sorry that we're causing our client's concern. We will continue to offer Thorough explanations to customers who have been affected Um, yeah, and they also said they're trying to make sure that they uh that those customers were given Appropriate warnings about the risks associated with that product But it's just one of those illustrations, man You know if you're seeking out any type of extra yield over the risk created return any risk free man And a lot of wealthy investors got wiped out for not really a lot of extra yield in those So pay attention when you're looking at it in the banks as well Because there's a lot of people who are not positioned well in terms of the risk that they may be taking And that's why you've seen these big banks just taking in and that's not going to end anytime soon, man Not going to end anytime soon in my opinion All right, we'll continue the net interest income wells fargo. So we got jp morgan wells fargo in city Out this morning. Okay bank of america, I believe is next week But there's skyrocketing on these earnings as well wells fargo higher than expected net interest income 13.3 billion in three months what we say jp morgan has had about 21 billion But pretty similar percentage number up 45 from a year earlier and more than the 42 that the market was looking for uh And there you go 13.3 billion rising rates So the firm added 643 million to its loan reserves Let's see net charge offs jumped 17 compared to a year ago So they got 1.2 billion market was looking for about 909 billion 19 million. They're showing up their reserves there Uh primarily tied to the firm's office loans inside its commercial real estate portfolio Keep your eye on that one man, right and also added reserves for credit card and auto loans in the quarter Yeah, and uh in recent months, I would say so man, you know, you got all this commercial real estate You got a ton of offices sitting at pretty much record record vacancy rates at a time when you have Interest rates dramatically higher. So That's not a good combination to say the least The company reported an 8 drop in firm wide deposits noting the decline was fueled by customers migrating to higher yield alternatives and an increase in consumer spending Average deposit costs or to 83 basis points compared to just three Still 83 basis points is nothing compared to what you can get for your money right now, right? Yeah, and interesting when you compare the two man, so that's well as far ago there's your jp morgan chart Train higher this morning, but not quite the same as jp morgan, man. I mean we just saw jp morgan Adding money right wells fargo 8 drop in deposits I don't know Doesn't seem like they're competing that well All right, we're coming back for the open. We're going to finish up with city city positive by about seven 70 cents as well. It's going to be an interesting open on friday folks. Stay tuned. We got a lot to talk about don't go away Building wealth trading in the stock market seems impossible to most people They think it's too volatile and risky Most people aren't going to take the time to educate themselves on how to do it, right? But you're not most people are you at tfnn You'll get the guidance you need to refine your strategies and techniques to invest like a pro Because you'll be a pro all tfnn subscriptions books software and courses are available at tfnn.com And i'm even going to tell you how to get them for less Use tfnn's tiger dollars and you'll get up to a 20 bonus on your purchase And once you apply them to your account tiger dollars are automatically used for all future or recurring charges Tiger dollars also never expire are fully transferable and are a great way to add savings to your newsletters or services Become the investor you were born to be at tfnn.com tfnn educating investors tfnn has just launched their new trading room 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 And now they are expanding their reach with the tiger's den available to all tigers and tigers for just one dollar for the year There's no catch or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o bryan and the other tfnn hosts while they analyze charts during their live tiger tv programs And join an interactive trading community with hundreds of members exchanging ideas Interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day Even at night and on the weekends the tigers den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of tfnn.com Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts at tfnn You'll get advice and guidance from the authority in technical market analysis And it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv Live every market day from 8 30 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 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 markets open s and p negative by about four points to kick things off We got the nasdaq 100 negative by 59 dow negative by 22 and you get the russell positive territory at 18 11 right now We finish it up with the three big banks. We jump over to city City up 1.8 percent. Let's see how the banks are opening before we do well as fargo up about Excuse me jp morgan up 5.5 percent Well as fargo up 1 percent there and bank of america again not with their numbers But their numbers out next week up 2.8 percent so get into city's numbers We haven't done these yet up about 2 percent for city Surprise jump in profit as rate moves fuel trading. So we saw net interest income all over the place everywhere else How about trading revenue from fixed income currencies and commodities trading? Unexpectedly rose 4 percent to 4.5 billion dollars in the first quarter as clients reacted to changing interest rates That helped defy analyst predictions of a drop in profits And you get into the numbers though for this one city group provisions for loan losses more than doubled to 2 billion dollars now what we go over jp morgan with something like a billion We'll pull it back up to cheap because So city has 1.33 trillion in deposits which are unchanged. Okay, and they got 2 billion dollars in loan loss reserves versus you have Jp morgan which is almost double the deposits at 2.4 trillion. Okay, and meanwhile their loan loss reserves What do they say and about a billion 1.1? I think they were where are we? Yeah 1.1 billion so jp morgan has almost double the deposits on hand and their loan Reserves are half of what they are at city just something that stuck out at me worth noting Uh, and probably one of the reasons why you got jp morgan as usual man Leading the pack up 5.3 percent. Well, it's far go right now Up less than 1 city up 2.2 bank of america on the heels of their the other bank earnings up 2.8 percent All right, i mentioned bowing bowing down 5.1 percent. This thing's been on quite a tear There's your daily you back it up to 120 bucks in october you trade up to 220 dollars a couple months ago We're back to kind of the lower trading area. We were down to about 194 in march We were down to a price of about 192 in march as well earlier in the month And we pull over the news for bowing Not what you want to hear that there are pause and deliveries because of problems with the 737 max in light of history for obvious reasons It's going to have uh likely have to reduce deliveries of the 737 max airplane in the near term because of a parts problem Yeah spirit aro system Spirit aro systems manufactures some of the fuselages used in the bowing jets and send the statement at notified bowing of a quality issue Of certain 737 models not what you want to hear again It's the latest in the string of production issues for bowing and its customers. I'm in an industry-wide shortage of new jets Uh the supplier informed the company of a non standard whatever that means right manufacturing process was used in two fittings in aft fuselages it said it affects Certain 737 max 8 planes the company's most popular model with customers including american airlines and southwest It also affects the 737 max 7 737 8200 and the p8 Not an immediate safety of flight issue and the in-service fleet can continue operating safely They notify the faa the issue. It's working to expect inspect and address the fuselages as needed um Yeah, but that's the issue will likely affect a significant number of undelivered 737 max airplanes both in production and in storage When you hear a company using the word Excuse me significant Pay attention. Yeah We expect lower near-term 737 max deliveries while this required work is completed We regret the impact of this issue will have unaffected customers and are in contact with them concerning their delivery schedule We will provide additional information in the days and weeks ahead as we better understand the delivery impacts They call this significant folks in the markets reacting rightfully. So Now the flip side of this is That's how you should want them to respond right as a even as a shareholder You find something out like that That's how you want them to respond man. The way they responded in the past Not how you want them to respond uh from a humanity perspective and from a Shareholder perspective you pay the price on both levels man. Uh, we're absolutely remarkable. This thing was up to 446 And that's where the 737 max was starting to play out In terms of and then you got into coven one airline Air travel just ceased to exist and you shave from 343 down to 89 bucks. You make it back to 278 Yeah, and then quite the slide to lower prices right out of that channel line right above Not sure that channel line plays out anymore for Boeing But nonetheless, look at these markets man right back up to basically flat on the s&p's. We'll put it to a five-minute chart 41 72 as we march on let's see how notes and bonds are trading right now As we got some movements on the retail sales number a little bit of a recoil from the lows Let's see what we're talking about on yields right now We'll pull up the yield curve for a moment and what are we looking at let's see We get the 10 year 3.5 percent We got the two year at about 4.1 percent and look at the numbers though man, right Quite a spike on the two year 10 basis points, man The 10 year up about five basis points the two year up by 10 basis points big numbers man, and then let's see what's happening in the dollar index as well Dollar index up to about 101 23 right now now folks We talked to our man teddy keg stat every wednesday at 40 past the hour always have a great conversation talking some forex talking some yields bonds currencies And of course commodities crude playing into that especially as well Teddy's got an outstanding webinar coming up this wednesday Okay, just head on over to the front page of tfn if you haven't tried it out folks I know that sometimes you may look at forex and say well, I don't trade forex. It's not going to be worth it for me I love having teddy on talking to him He has a vast amount of knowledge experience and in this market right now with the way the commodities are influencing things With the way that yields are influencing things in terms of yields influencing currencies influencing markets influencing rates fed or reserve coming in It's a great time to just understand the factors that are occurring in this market It's a webinar this coming wednesday from four till five. He'll be in there with subscribers. You can sign up It's only 97 dollars folks. You get the newsletter for a month. He's got new issues every monday and yeah Check it out. You'll get the newsletter. You'll get the webinar on wednesday. It's 97 dollars And please I always tell people if you don't like it like it just cancel it and get the money back refund That's why it's there. There's no shame in that at all man I wish everybody would try every single product we have and if you don't like it cancel it request that money back Guarantee refund and and it will send it out with joy man because I appreciate you trying out what we have That's why we have that there. So don't think it's like I don't want to request a refund You know, it's not do it. Just try it out and request to ref cancel it. You get the refund It's that simple man. I'm looking forward to that webinar coming up on wednesday And boy, we got a lot to talk about in these markets to put it lately, right? Let's see how the vix is trading as we push highs right now check it out 1764 are we gonna see a 16 handle on the vix today? It's possible folks this market. You just can't slow it down There's a new recent high 41 78 we get above the highs we had on wednesday We get above the highs we had on thursday 41 78 75 absolutely remarkable man now. Let's talk about the recent highs we had 4208 You get above 4208 You get above 4217 and you're going back all the way to august Of last year remarkable acceleration in these markets. Stay tuned folks. We'll go over some of the other equities We got coming up with earnings next week. 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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Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years A frequent contributor to TD Ameritrade network at CNBC Tom O'Brien founded tfnn over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed These newsletters are packed full of tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio Get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free With our money back guarantee at tfnn.com tfnn educating investors The s&p 500 continue to climb for bold trades on us large cap stocks in either direction trade spxl spu u or spx s Directions daily s&p 500 bull and bear leveraged etfs Direction leveraged etfs An investor should carefully consider a fund's investment objective risks charges and expenses before investing a fund's prospectus And summary prospectus contain this and other information about direction shares to obtain a fund's prospectus and summary prospectus This call 866-476-7523 or visit direction investments.com a fund's prospectus and summary prospectus should be read carefully before investing An investment in the funds is subject to risk including the possible loss of principal The funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services llc This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Welcome back folks. We got the s&p's up by four points nasdaq 100 barely in the red We just got the dow climbing into positive territory right now. You get the rustle holding on to slight gains as well Yes, we're talking about earnings next week So we get some of the other big giants out there in terms of goldman sacks morgan stanley out there Let's jump into it to see morgan on monday. Excuse me We're at schwaab out with their numbers you get state street out with their numbers We get a lot of the other banks right coming in with their numbers next week on tuesday You're gonna get bank of america out with their numbers. We get goldman sacks on tuesday as well Again, let's see. I think we get morgan stanley on wednesday. Let's see Yeah, we sure do. So we got morgan stanley on wednesday Goldman sacks on tuesday bank of america on tuesday I think we also get lockheed martin On tuesday with their numbers as well as i mentioned some of the other banks as well bank of new york melin bk Out with their numbers on tuesday Let's see jumping around on these lists I got here. There's some good numbers man coming out Uh ally financial will be out with their numbers on wednesday us bank corp out with their numbers on wednesday on thursday We get at and t in american express All right, we're coming into it man at and t on thursday out with their numbers american express on thursday out with their numbers We get dr horton dhi Out with their numbers on thursday that'll be an interesting one. Let's check out their chart right now Yeah, you talk about an acceleration man Did you think that would be pushing highs of last year when dr horton was trading at 60 dollars in june All right, if i had told you that the fed was still hiking and we had a banking crisis going on In june and i said in april we're still gonna have the fed hiking Still they're still gonna be hiking And we're still gonna have core inflation at 5.6 percent and we're gonna have bank tightening going on Where do you think dr horton's gonna be? Not a lot of people would have said a hundred dollars man from 60. Nonetheless, there it is on the chart remarkable Uh, what else do we got? We got right aid coming out with their numbers on thursday. Check out some Looks like they're going bk man Yeah, out with their numbers on thursday, uh, that's not an attractive chart. My goodness Let's see what else we got. We got alaska air on thursday It's going to be fast and furious man in the week after that. We're going to get tech companies Yeah, still some banks in there. All right, let's see what we got on friday Procter and gamble out with their numbers on friday freeport mac maran mac maran out with their numbers on friday See, we also got auto nation somewhere. I believe in there as well. What's that hand? Yeah, auto nation Yeah, they're going to be out with their numbers on thursday as well auto nation cars always been in the press recently Look at this market man. Look at this market Can't hold a good market down, man I say it half in jest folks Yeah, we spike above the highs yesterday 41 82 we back things up on a daily basis and as I mentioned It's going to be interesting to see where we go from here folks because we are pushing a technical level That it's just bumping up against that area right now. And if we blow past there, I guess 4300 the next stop Right, that's where we were in august Hey, it speaks for itself. It speaks for itself and we'll leave it at that man All right. What else we got going on? in this market Yeah, we talked about Well, let's talk a little bit of black rock as well Assets exceed nine trillion dollars in the wake wake of the bank failures. Now. What's interesting here is right? I just went over The numbers for some of the biggest banks out there, right black rocks got nine trillion dollars folks JP Morgan What do you have 2.3 4 trillion and black rock has nine trillion Absolutely mammoth in terms of the numbers they're dealing with man Uh as stock and bond markets rallied and depositors sought cover following the collapse of several banks net inflows to the firm's funds 110 billion dollars Long-term investment products which include mutual funds and ETFs added 103 billion Beating the 84 billion is what the market was looking for And let's jump over to them blk up 3.7 percent And there's the volatility for you on their numbers man nine trillion dollars not bad uh Yeah, so they get eight billion dollars into their cash management products in the quarter today's crisis in confidence in the regional bank sector Will further accelerate capital markets growth and black rock will be a central player That is their ceo larry fink saying in a statement. They're positive this morning Assets under management climbing six percent to the end since the end of last year when they were just at 8.6 trillion I mean imagine that right just since last year That 5.8 percent rise represents more than 400 billion Dollars in terms of assets under management It's absolutely stark when you put it to a company like city that only has 1.33 trillion on hand And meanwhile you got companies like black rock adding 400 plus billion just in the last year alone pushing nine Trillion dollars for their number Adjusted night income falling to 1.2 billion or 793 a share market was looking for 767 revenue declining 4.2 4.2 billion Which is what the market was looking for fixed income ETFs took in a net 33.3 billion fixed income ETFs right Well equity ETFs had outflows fixed income ETFs took in money ETFs had outflow outflows actively managed equity funds also had outflows Yeah fixed income ETFs folks fixed income man It is going to be competition for equities for some time to say the least Look at this market man. Absolutely remarkable where we go from here All right. Well, let's see. Let's see where let's see where the 1 to 6.8 We expand to it would be on this run because we're going to be pushing it man 4208 And where is it Look at that Maybe that's where we're going man So i'm going to take this one off because we're blown past that area slightly And that is on a very short-term timeframe. Okay That's just looking at hey A 1 to 1.618 expansion. I mean maybe we do that in two days Not often do you get 60 points down folks in 100 points up in the span of two days in this market But maybe that's where we're heading it would be ironic if 4208 is the spot considering It would bring you literally to the tick of where we were in the markets on february 2nd Before you saw this thing trade down What 350 points in the span of about six weeks in this market We'll see where we go We got a lot of companies out with their earnings next week and then we're getting into the made event of earnings with the tech stocks apple All the way into may so they are A few weeks out they're late to the party in terms of we get earnings before that man because we got amazon out with their numbers April 27th So they're going to be out with their numbers in less than two weeks as I said I just went over the earnings we're getting next week right the 17th to the 21st And then we get the tech stocks beginning the last week of april and then we get apple the first week in may So amazon is april 27th Yeah, google earlier in that week april 25th microsoft shares april 25th Tesla shares they're going to be april 19th. All right didn't even get them in the mix their next wednesday tesla shares That'll be an interesting one as always You know I was Listened to bloomberg yesterday in avidia all the way out in may 24th There's something like seven stocks folks have contributed 90% Of the s and p rally this year alone and you can probably name them All right, we'll talk about that when we come back as well leading the pack those big tech stocks We'll be right back folks tfnn has just launched their new trading room the tiger zen hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours And now they are expanding their reach with the tiger's den available to all tigers and tiger's for just one dollar for the year There's no cash or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o bryan and the other tfnn hosts while they analyze charts during their live tiger tv programs And join an interactive trading community with hundreds of members Exchanging ideas interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action All trading day even at night and on the weekends the tiger's den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of tfnn.com 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 have the s&p's up by 12 points quite a rocket ship man up to 4188 We're trading 4185 to give the nasdaq 100 up by 29 Dow up by three points right now the russell up by eight pushing the highs of wednesday as well Checking back on some of those retail sales numbers just checking into the different categories. Okay Gas stations a big decline 5.5 department stores 2.5 electronics negative 2.1 building materials minus 2.1 You got close minus 1.7 cars and parts minus 1.6 furniture minus 1.2 groceries stay the same Interesting and then on the positive side restaurants and bars up by 0.1 Sporting and hobby up by 0.2 health personal care up by 0.3 and online up 1.9 percent so just some of the numbers in the retail sales numbers and as I was talking about okay checking out the seven Equities now this is I saw seven I saw 20 whatever it is folks. Okay Google apple meta navidia amazon microsoft and tesla together they've gained 2.1 trillion dollars in market cap this year the s&p 500 Has added 2.4 trillion Yeah, so you got those seven equities basically adding 90 percent of what the s&p has done this year So keep your eye on the big tech companies man because it has not been a broad rally even though the markets have been just tremendous, right Yeah cherry picking some of those man. Okay the video is up 1.2 percent today There's a run for you from 140 to 280. Okay, you check out apple shares going from what 125 to 165 google shares Go from 90 to 110 Uh tesla in there, of course running from about 111 up to over 200 at one point What were some of the other ones in there meta meta the other one in there? Yeah, you talk about a run from 120 to 220 So keep your eye on that man because not a broad rally even though you kind of get the feeling that surprised me I knew tech stocks were leading, but did you know that those seven equities added 2.1 trillion and the whole s&p added 2.4 Thanks so much for starting your trading day with me folks. Stay tuned. We got our man basil chat. He's coming up live next Have a great friday folks. Have a great weekend. Thanks for starting your day with me And uh, stay tuned for our man basil chat and coming up next. We'll talk to you on monday folks. Have a great one