 The following is a presentation of TFNN. Good morning, Markets Kickoff with your host, Tommy O'Brien. Good morning everybody. I'm Tommy O'Brien, coming to you live from TFNN Tuesday morning. We have some CPI data and boy, it's going to be an interesting one in the market, folks. I apologize for the late start. Right when I was coming on the air, man, my computer just froze up. Very difficult to do a show when your whole computer freezes up literally within about 15 seconds before we started. Appreciate my producer helping me out there. We restarted the computer. We're ready to go. And we have the NASDAQ folks pushing pre-market lows of more than 3% to the downside right now. And boy, when you jump over to that CPI number, man, it is a hot number, folks. And there is no reprieve just yet. We have a Federal Reserve meeting that begins one week from today. And you're talking about 75 basis points. They were talking about it in the den. You're going to hear about a potential for a 1% hike on that meeting, not to say whether it happens. 75 is definitely happening. What happens at the next meeting as we go down the line? Inflation, persisting in a big way. Consumer prices actually increasing when they were looking for a month over month decrease. Core came in at 0.6 for the month. It was supposed to come in at 0.3% for the month. If you were listening to the program yesterday, folks, I talked a lot about CPI shelter, the lagging impact that shelter will have on CPI. Shelter is 1 third about of the overall CPI. Shelter pushes 40% of the core CPI. Shelter, especially rents, lag tremendously because people don't reset their leases on a very often basis. And what's going to happen, folks? You're talking about a core number that's at 0.6%. We'll get into it a little bit later in the show. And you're talking about a number where some people are talking about next year. Shelter, rents are going to be pushing 7%. And by the end of 2024, rents are still going to be pushing 4.5%. And that's going to be 40% of the core CPI. The end of 2024, man. I think the market is going to be freaked out by this number, man, because we are way off what they were thinking, and we are just not stopping dropping right now. Pretty tremendous to drop off, we have, folks. You were pushing 13,000 in the NASDAQ 100. We're approaching 12,400. You're at 3.06% right now. You jump over to the S&Ps. Basically making pre-market session lows, as I speak. Look at that slide. The first move was down about 100 points. Since then, we've dropped almost another full percent. The S&Ps now off 2.4%. How about the Dow off 1.9%? The Dow just gave up 900 points from where it was trading at pre-market, man. We got 14 minutes to go until the opening bell. We're skipping this break, because I came on a little bit late, man, but we got plenty to talk about this morning. How about crude? Volatility everywhere in this market, folks. You get the crude contract right now. You're down 75 cents, but you're off more than $2 from where you were trading at at 89.20 down to 87.05%. Huge move in the dollar index, and that is gonna impact about everything, and you got gold trading down to 17.07 right now. We gotta jump to notes and bonds, but we got the 10-year. There's a drop for you. Down 24 ticks right now in the 10-year. You're pushing 114.27. We got yields through the roof everywhere, man. You got the bonds, the 10-year, 3.45%. Seems like we might be on our way back to about 3.5%. And then where do we go? Let's jump over to our man, Kevin Hicks. Every trading day, folks. 12 noon Eastern time right here on Tiger TV, the TD Ameritrade Network Fast Market with your host, Kevin Hicks. Tom White, the TD Ameritrade Network, and I think they might have something to talk about on a day like today, folks. Kevin Hicks, good morning. Good morning, Tommy O'Brien. Yeah, a little shock to the market this morning as inflation a little stickier than we thought, Tommy. Now, let's put this in a little bit of perspective. All we're gonna do, remember the market opened Friday morning at 40.38 and a half. So all we were really doing is giving, so far, at least so far, we gave up Friday and Monday's rally, but, Tommy, this number is showing that inflation is stickier than normal. And even though, if you look at the tables energy came down across the board, it was food, Tommy, that is really the stickiest part of this. Food at home, up seven tenths. Food away from home, up nine tenths. Tommy, and one last thing, if you look at the all items, less food and energy, used cars and trucks was down a tenth of a percent. Every other line was positive, Tommy. Yeah, it's a little intimidating, man. You make some great points and that's kinda what has at least the spikes on my back, man, pretty attuned to the risk probabilities that if it doesn't happen in this meeting, Kevin, who's to say that by the next meeting it's gonna happen? Cause everybody was saying we should probably see something on this meeting. We all know how that can go, man, pretty interesting. And you make a great point with the S&Ps, though. I said during my program at one point yesterday, I said, where did those 200 points come from? Kinda meaning from where we were at 3,900 last Wednesday and we were coming at about 4,100. And so we were still, I mean, you're talking about trading at 4,032, folks. It was quite an incline from where we were even less than a week ago at a 3,800 price point on the S&Ps. But as they say, Kevin, the day is young man, yield spiking, crude pulling back in a big way. I guess the conversation obviously goes to what happens in the Fed meeting. Do you wanna give us maybe what you think might happen? 75 seems like it's fully baked in. Do they even start talking about a percentage, Kevin? Or a full percentage? And then where do we go for the next meeting? It seems like 75. I think 75 is now 100%, Tommy. And now you're gonna start seeing, as we sit here this morning, there's a 20% chance of a 1% increase. That number will increase, Tommy. Especially as we get people, as we get consumer sentiment later in the week. Watch for that 1% move by the Fed to start gaining traction. Doesn't mean he'll do that. I still think probably Jerome Powell will do 75, but now that number, that number that we're aiming for in terms of interest rates, that number may have just gone up. Why? Well, because since August 12th, as we try to fight inflation, the government has spent another $1.1 trillion in terms of the inflation recovery the legislation against inflation and student loan forgiveness. There's another 1.1 trillion in spending. So inflation is sticky, Tommy. And Jerome Powell has got one tool that he can use and he's gonna use it. Hi, it's pretty interesting, man. What's gonna come down the line as we approach even their next meeting. We have, of course, yield surging. I mean, what do you think even when you look across the globe, man? You know, I was searching Bloomberg early this morning, I heard one analyst say, I instantly thought, oh, man, that's tough for the US. And then I said, man, that's doubly tough for the rest of the world because yeah, the US is gonna be hiking and we got the dollar index jumping basically two full points right out of the bat. It just gets tougher, man, maybe for Europe and their quest, right? Yeah, I mean, everyone pivots and is related to the US market. So the fact that inflation is sticky here with everything we're doing to fight it, that means you're probably gonna be, so this is a situation with high inflation, Tommy, that's gonna linger in these markets. And Europe has already talked about their numbers being much higher than ours. Now, here's one bit of good news, Tommy. The month over month inflation number was still lower than last month, right? It was eight and a half, it's down to 8.3. It missed expectations and that is what the market trades off of right now. But peak inflation, you can still make a discussion for that, but the core, the core is what is remaining stubborn on the upside. You know, I tried to, I talked yesterday during the program, Kevin, about the shelter part of things. And I've gotten quite an education along with many people about how important shelter is to the CPI. I was reading that it's about one third of the headline number and when you get to the core side, it's as much as 40% of the core, almost 40% of the core inflation number. And then you talk about the lag impact of rents and it makes sense, right? People are not signing leases on a constant basis where those kind of mark to market is getting done. They have to play catch up with the market rates. Does that go into your mentality? Cause that is I think a big worry point in my opinion in terms of where do we get core? When some of the numbers I was looking at, they were saying, you know, you could still see rents rising four to 5% in 2024, just because of the lag of a year or two where you have a tenant in there, you don't resent the rent, they leave and then you jack it up to meet market rates. Yeah, shelter right now, this month up 0.7, Tommy. It was one of the stronger lines in the excluding energy. And now for the year, for the last 12 months, shelter up 6.2%. So again, a strong number, shelter, shelter affects everyone and you're right, Tommy, you don't sign a weekly or monthly lease, you sign it for either six months or a year. So yeah, that's a number that's probably gonna be sticky as well. So shelter up 0.7 and up 6.2 year over year. Big numbers, man. It's as a trader, you know, looking at this market, I'm excited, man, you know, I want the market not to just get destroyed, but folks, volatility, man, you know, looking at, and what are we looking at this morning? I haven't even jumped over recently to the VIX as we hit 25. That seems pretty, pretty relatively low in my opinion right now with what's going on and where this thing has been just for the better part of this year. With that in mind, Kevin, what are you guys talking about coming up at 12 o'clock today beyond the obvious? Go for it, man. We're gonna look at a recession-proof trade today, which is, we're gonna look at Visa. Today is the Starbucks investor day. So like fully is gonna do presentation on Starbucks. And then we'll look at Costco in our third segment. Where you might go, what you might use when and if a recession hit. So, Visa, Starbucks, Costco. Visa, Starbucks, Costco, and folks, you should be thinking like that because it doesn't mean it's gonna happen, but at least have the mentality to be prepared for the scenarios that can play out. And it's a dicey scenario with some of these numbers right now and they're running pretty hot and we're pretty decent into the hiking cycle and nothing has really changed to a nominal pretty small degree, at least in my opinion. Kevin, we appreciate you taking the time out on a busy morning, man, and we look forward to watching the show at 12 o'clock today. Thanks for having me on, Tommy. Have a great day. Always a pleasure, man. Folks, check it out, 12 o'clock today. You heard it. And yeah, I'm looking for stocks and it's gonna be interesting, man. You got yields for the first time. We're really having an impact. You're talking about the 10-year push in 3.5%. There is competition when it comes to equities and one of the things you're gonna see, folks, is people going to equities that provide a little bit of safety and a potentially pretty volatile period of time that we're coming up on, man. You're still sitting above 4,000 in the S&Ps, folks. That's about 10% above where we were trading at in June. Things have played out pretty poorly in terms of where the market is and where inflation is, even from what we were thinking that was gonna play out. I mean, do you remember what we were thinking in May or June? They weren't thinking, folks, that CPI was still gonna be pushing above 8% come September, okay? That was not the analysis. You back it up. I mean, we came into this report at basically where we were trading at in February. I'd say that things have gone much worse than that period of time. Now, you had huge energy shocks to the market, of course, in March and in February, but inflation is much more persistent right now than the Fed thought it was gonna be. That's been the story for the better part of a year and a half, and who's to say it's gonna change? So make sure you're protected. Maybe check out the program. I'm gonna try and check it out. Visa, Costco, two great companies in there. What was the third one? Starbucks, which is a great company as well. Starbucks, a little bit more exposure to China. When you talk about Starbucks, they were quick to fall off during the pandemic. You back things up. You actually see that they started falling off before the rest of the globe because they were so open to the business in China. So they have a little bit more exposure over there and China's got some problems, man. So Starbucks, they're gonna open down two bucks. Everything's opening down today, folks. We'll come back for the opening bell in three minutes. Stay tuned. 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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 the S&Ps kicking things off down 2.2%, trading at 4,038. You basically give up 135 S&P points just like that from the highs. Now we came into that print hire. We came into that print hire by about 30 S&P points. So you're off 2.2%, but this market just dropped about 3% even in the S&P from where we were. I'm not sure it had every right to be pushing 4,200 folks with everything on the line. It's a big miss, but I think it was overly optimistic to think this number was gonna come in as soft as many had thought considering the impacts of what's going on and the fact that the numbers have not come down yet to any considerable degree. Has to be what Chairman Powell is sitting there thinking right now. You got the NASDAQ 100 down 500 points from where it was trading at. What is that pushing? Yeah, that's pushing a full 4% because you were the markets dramatically higher. So coming from that, you have the NASDAQ 100 off 2.6%, but you're off almost 4% from the spike high you got right on that print at 830. Big numbers across the board, man. Crude catching a little bit of a bounce actually back to 88.19 so much for hitting 81, man. That was a heck of a buy. You're up to 89 bucks crude, not trading dramatically lower just yet. And yeah, we'll jump around to some currencies real quick. You get the gold contract getting crushed, man. That's gonna happen anytime you got this type of move in the dollar index folks because the dollar index just spiked what a point and a half from where we're trading at from 107.75 to 109.32. Now, Kevin mentioned it, we've only given back the gain that we had basically from Friday, right? All we've done is trade back to where we were at 10 o'clock on Friday. Remember where we were at 10 o'clock on Friday. If you said to yourself on Friday, hey, guess what? This is gonna be the CPI number on Tuesday. Here's where we're trading at Friday at 10 in the morning. Do you think the market is gonna be higher than that or lower than that after we get the CPI print, right? You would say lower. Well, we're basically higher depending on where you picked the opening on Friday. Not sure that should be where we sit even if we traded to 41.75, okay? All right, let's jump around some of the other articles. We'll see where the market sorts out. We're only two minutes into the trading day folks. It's gonna be a wild one. There's gonna be moves in both directions for sure. You know what, before we do, let's jump around to those currencies though because you got the Euro US dollar. We were pushing almost 102, right back to parity right now. Dollar Yen, okay? Look at that move. Now, I don't know if that's by then. I don't think that was probably real as in to 137. Let's put it on a one minute. You'll probably be able to see. Yeah, not really a real tick. I think down to 137, but nonetheless the Yen was at 142 and you just traded up to 144.5 almost on the Yen. You put that thing on a daily, right? Yeah, you're right back to highs, man. The trend is intact. Now take that tail out of there because that doesn't exist. Huge numbers, man. Jumping around to some of those CPI numbers. So Kevin talked about it, man. We all talk about it. Food, food costs increased 11.4% from a year ago. The most since 1979. Electricity, 15.8% the most since 1981. Gas falling 10.6%. Shelter cost, Kevin Hicks talked about it. Increasing 0.7% from July, 6.2% from a year ago. Both the most since the early 1990s. Folks, shelter lags. Shelter lags. And we're pushing 0.7% the most since the 90s. Annualized, what is that? 8.4% shelter is rising. Shelter is rising at 8.4% a year. It lags and will probably be persistent over the next two years. And you're at 8.4% right now. It's already the most since the early 1990s and you're at 8.4% annualized and that has a 40% impact on the core CPI. I'm glad I talked about what I did yesterday. If you missed the program, folks, yesterday, feel free to check it out on our YouTube page because I talked a lot about shelter, CPI, core CPI, some of the numbers they're looking for. One analyst I was reading talked about next year. I think they're looking for something like 7.5% shelter. Right now, annualized, it's at 8.4%. So that would be waning a bit if next year you have shelter rising at about 7.7.5%. And they're looking for 4.5% as of the end of 2024. If that's the case, man, core CPI is not going back down to two and 2.5% by the end of 2024. And if that's the case, then where's the market and where's the Fed? That's, I don't have the answer to that one, man, but it's a dicey question in terms of where we end up. Big numbers across the board there. All right, what else do I have here? This article from Bloomberg. So US falls to 18th place in global retirement ranking inflation, market volatility and an aging population makes 2022 one of the worst years to retire. I mean, folks, unfortunately it gets political when you go through all this stuff. The US though, they're number 18 on the rankings. You got Norway, Switzerland and Iceland, good old Ireland number four top on the list in terms of retirement security. One number I want to go over here. They talk about social security. Okay, the US relies on a balance between the number of younger workers. We all know this, but check out the actual statistics. If you don't, paying into the system and the retiree population drawing benefits, but the older population is swelling and skewing the balance. Again, we all know that I think, but guess what, man, check out these numbers. People over 65 made up about 14% of the population in the year 1950, the year my dad was born. 28.4% in the year 2020, okay? And 40.4% by the year 2050, those numbers present a problem to the social security system. And hopefully our politicians can come together and have a little compromise, because that's what it takes to get things done when you differ in opinions, folks, coming towards somewhere near the middle, okay? Because that is a broken system and the only people they're gonna hurt are the people who are younger that really didn't even factor into making the decisions that set up that system. Doesn't seem fair at all, but nonetheless, big numbers, they gotta get that one under control. We jump over to the world of gambling and football. Why not? Monday night football, great game last night, didn't catch the end of it, but yet Russell Wilson signed a huge contract with Denver in the off season. He comes into Seattle, his former team, they lose 16 to seven. Denver coaching suspect from what I was watching early on couldn't get plays in there on time. Yeah, some tough deals going on there, but Russell Wilson played tremendously well. Great game, great first week of football action, and this Thursday I've talked about it, Amazon, they kick off Thursday night football. Football, exclusively, it's offered nowhere else. It's the first time you're gonna have NFL live football exclusively on a streaming service, so Amazon's gonna kick it off, and DraftKings is gonna be the exclusive odds provider. Now, everything is still dropping in this market, so DraftKings is gonna get really hammered today when you have yields doing what they're doing and they are a growth company, to say the least, but you were positive, man. You were up to 1859 in the pre-market. This thing just traded from 15 to 1850, okay? Now you're back to 1716, and this is gonna trade with some volatility. We got the S&Ps off 100 points, man. You got the NASDAQ 100. We're pushing lows right now. NASDAQ 100 off 3.2% right now, and the S&Ps off 2.4%. Now what's interesting here, though, is how the world is gonna change, man, and wrap your brains around it, because it's pretty interesting to see how this is gonna absolutely change how we watch live sports. If you're not a fan of gambling, sorry to break it for you, man, but it is gonna dominate live sports. DraftKings, okay? So here's what's gonna happen. They said Tuesday that it signed a multi-year agreement with Amazon that includes same-game parlays, same-game parlays. I'm gonna explain that if you don't understand that in a moment. That will be available on the DraftKings Sportsbook app. Content from DraftKings will be featured in all 15 of Amazon's NFL telecast this season. That kicks off this Thursday, beginning September 15th. Financial terms not disclosed, but we'll talk about that a little bit more, man, because that is gonna change things. And if you're familiar with how things work in Europe, man, Europe, they love gambling on sports. We'll be right back, folks. Stay tuned. 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. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman and your inbox every day. 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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 get the S&Ps down about 90 points right now. You're catching a little bit of a bounce off the lows. You were pushing about 100 points. There is no strength in that bar though. We're looking at 15 minute bars. Let's put it to a one minute just to see the drop off since 8.30, you know. Yeah, you got a rise to the tune of 12 S&P points, folks, but we just dropped 146 S&P points. 146, yeah, that's more than 4% from that spike we had to the upside. All right, if you head on over to the front page of TFNN, folks, I encourage you, if you have not yet to check out the Tigers Den trading room, okay? Right here on the front page of TFNN, it's a dollar for the whole year. You simply sign up. We use the Discord app. Now you can use that on your desktop. You can use that on your mobile. It's on days like this in particular, okay? There is a tremendous amount of great conversation. They're throwing in trades in there. They're doing a ton of stuff. And we have our first contest in there. So for those that already made their guesses, probably a little difficult ahead of time, but you can join the Tigers Den. And when you do, we're doing a little contest and we're gonna start doing more of these. All right, giving away some merchandise that we have going on. So this contest is you gotta guess the SPX closed as of Friday, September 16th. Okay, this Friday. You have to guess it by 4 p.m. tomorrow, okay? They're locked in. All you have to do is comment in the chat. If you're in the Tigers Den right now, you will see on the left side there under text channels, Tiger Contests. Head on over there. You can guess where you think the SPX is gonna close. As of Friday, you have until 4 o'clock tomorrow, but don't wait, folks, because we gotta shut it off at 1.4 o'clock. Is the hard deadline. The top three get a special TFNN coffee mug. So we got some coffee mugs in there. And to give a quick little glimpse of those coffee mugs, I'll pull them up right here real quick. There is the beautiful Tiger on one side with that beautiful backdrop of a tiger we have in our office right there. And then on the other side, you have TFNN.com educating investors. So, you know, a small contest, a few mugs, the den is worth its value, folks, because it's basically free. We just do a dollar to keep spam accounts basically out of there as a way to regulate that it's an actual real person and not maybe somebody causing trouble, right? Or just spamming or doing whatever. And there's some great conversation, folks. And in markets like this, boy, they're talking pre-market all morning about their trades, what's going on. They're talking aftermarket, but during market hours especially, very active in there. We got like almost 500 people in there, few hundred people in there at any time, talking live, chatting their charts, et cetera. So check it out and exciting. We'll be giving away a few mugs. If you're in the den, don't forget to guess. Go put a guess in there, man. Where are we going? Well, we're not gonna be above 41.75. I'm not gonna get a mug for telling you that, but we're not gonna be above 41.75 as of the close of Friday, folks. That's my opinion. Doesn't mean it's gonna be true. This market can defy anybody, but boy, with that number coming out, folks, I would say we're probably even gonna finish below where we're at right now if I had to make a guess on that number. We'll find out. Okay, let's jump around to some of the articles I have pulled up here. Kevin Hicks talked about it. They'll be talking about Starbucks, one of the stocks that they'll be talking about at 12 o'clock today on Fast Market. And that is because they have investor day going on. So you got a reinvention strategy is what they'll be talking about. The strategy is the brainchild of the outgoing interim CEO, Howard Schultz. He's been like so instrumental. He's with us. His third stint there, started the company, didn't actually technically start the Starbucks company, but brought it from essentially a nothing coffee chain to what it is today, came back as CEO. Now he's back again as interim CEO. Seems like they gotta get their deal together with the succession line going on at Starbucks. We jump over to SBUX. They're down 2.7% to kick things off. Let's see how some of the fang stocks are trading. Amazon, whew, growth stocks getting hurt, man. Amazon down 4.6%. Now this thing has had quite a rise recently. We put this thing back on a daily. And you're still well off where we were trading at just a week ago, which was 124, let alone you go back to their last earnings about six weeks ago. You were at about 116 to 120 area on Amazon. The lows of about 106, but you were as high as 145. Boy, they're getting punished today down 4.6% today. Microsoft down more than 3%, the big dog, Apple. Down 2.6%, we'll call it the 159.30 for Apple shares. See how Google's trading off 3.6, big numbers. Man, Metta off 6%. Twitter has its own saga going on, of course, off 1.3%. See how some of those growth stocks are trading. Look at this, man, Zoom. Zoom is pushing basically lows of any time recently as this market goes back to test. The lows we have, Zoom off 5.9% right now. Let's see how Tesla's trading off 3% arc with their growth stocks down 5.9%. Man, we jump over to the 10-year, and we are right bumping into this low, man. Look at this pullback we had from August, right? We were pushing what, 121.24, what's the high there? No, 122, we got a 122 handle and now we're at a 114 handle in six weeks span and we are pushing, I'm sure, 3.5%, something like that. Let's see where we're trading at right now. We got a yield right now in the 10-year of 3.43% on the 10-year. All right, let's see what else I had pulled up in terms of articles talking about. Yeah, you go from succession HBO and Ted Lasso. If you haven't checked out Ted Lasso, folks, outstanding series of comedy, but the great series in many ways, Ted Lasso, succession. That is also a great series for HBO. They have a lot of good stuff up there. I am a subscriber to HBO right now, and actually, if you're a subscriber, what you should do is what I just did is I canceled on my monthly and they got a 40% off promotion going on for HBO. So if you're on a monthly pain for HBO right now, you can cancel, right? Make sure you check this. It's probably on their website. Maybe I'll pull it up at the break to make sure what the deadline is, but you cancel on your monthly. Maybe you're paying, it's expensive, HBO. One of the more expensive services, $14.99 a month maybe. And then they are offering 40% off for the year, is what it is, 40% off for the year. So instead of paying $149 for the year, they give you 40% off, kicks it back down to like $110 or something like that. So you're paying $110 for the whole year, instead of paying $14.99 for a month. There's some profitable trade for you for HBO. But they come in, 24 awards, right? Yeah, 24, no, 24 awards is what they gave out. I see HBO had 11 of them, prime 10 Emmys, including outstanding drama for succession and Disney and Apple were second. But yeah, HBO getting it done. All right, what else we got? Twitter has its own saga with the whistleblower going on. Yeah, and we talked about the retirement. All right, let's jump around to some of the currencies and see what levels we're pushing. Cause I was talking about the currencies, whether it's the Euro US dollar, Pound US dollar. Now folks, all we did was bump right up to that upper boundary line. I mean, look at this, we've been talking about these channels, right? Boom, you bump up to 102, you're back to parody, basically sitting at one. You have a trade to the bottom part of that, man. We'll be talking to our man, Teddy Kegstad tomorrow as we always do at 40 past the hour. But boy, you pushed the lower boundary line. And many times folks, we've been bouncing around on this channel line. All we're doing is pushing the upper boundary line. Even if you trade back down to just the bottom portion of this channel, you're talking about maybe 95, excuse me, 94 on that Euro US dollar. Now the Pound's a little bit different. You jump over to the Pound US dollar and you're nowhere near the top of what you could call a channel line. Not exactly parallel lines. Maybe this one rests a little bit lower. You could say even, right? That might be a better linear regression fit going back to at least end of February. Lines it up a little bit more parallel. But interesting to see if there'll be some divergences here with the Pound US dollar where the Pound, if it trades lower, you may be talking about 114, but you do have room to the upside there for the Pound to its channel line. But Euro US dollar, man, they are in trouble in a big way on that channel. And we'll finish it. We'll talk about the end when we come back, folks. Stay tuned. We'll be right back for one more segment. 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 tigeresses for just $1 for the year. There's no catch or added costs when you join our community of traders. 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When you subscribe, you'll get a weekly report from Veteran Day Trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. 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 get the S&Ps right now. I'm down about 89 points. 4039, you take a look at the daily, okay? All we did, folks, is bounce to the 618. Man, this is a daily. You trade down from about 43, what, 27? Yeah, 43, 27. Down to the recent lows we had, which were 38, 83. What do you do? You pop to the 618. You pop right where this thing chopped around for a bit towards the middle to late August. And then what do we do? We turn around. And if that's an A to B, C to D, folks, okay? You're talking about from 43, 27, down to 38, 86. So what is that? About 440 points or so? Yeah, 440 points or so? And then you take that off this number. You're talking about, what, 3,700? And the S&Ps, maybe you're talking about the recent lows we had in July, which would bring us right in. Now I'm gonna back that up a little bit more to see. Yeah, you're talking about right back where we were. Doesn't necessarily bring us down to 46, 39. But yeah, you're talking about about, let's get it exactly, 43, 27 plus 86. Yeah, 440 points, 441, something like that. And you're coming off a high, let's put it on 15 minute, even pre-market. Well, if you take off that and you put it back on a daily, you're coming off a high of 41, 75. So yeah, 37, 30, something like that. And 37, 23 is the low from July 14th. Maybe that'll be my guess for the SPX and the trading contest. No, I'm not gonna guess in there, folks. I already have a mug. I should have it right here, drinking out of it. I drink out of it all the time. My beautiful TFNM mug. Check out the tiger stand if you haven't, folks. For those of you in there, thanks so much for making it such a great place every day. I was in there this morning, even though I wasn't posting a lot, watching what everybody was talking about on that CPI, it was a great discussion, man. Kevin said we're at 20% already for one full percentage point when the Fed meets a week from today. Folks, the meeting starts a week from today and then they have their announcement Wednesday at two o'clock press conference to follow September 20th and 21st is their meeting decision on the 21st. We got a lot of trading until then. Markets basically making lows as I get off the air. Stay tuned, folks. We got live programming all day. Basil's up next. Steve Rhodes, our man at 11. We got fast market at 12. Larry Pezzavento at one. Dave White at two. Tom O'Brien live from three till four. Have a great Tuesday, everybody.