 Tom O'Brien welcome folks this is Tom O'Brien of TFNN. We got five days a week we got seven hours a day we go 24 hours a day in the internet at TFNN.com always remember folks whatever you think about you bring about whatever you focus on grows hope everyone's having a great day safe day it's making a great night folks don't make assumptions communicate with clarity communicate with others as clearly as you can to avoid misunderstanding sadness and drama if all humans would communicate with impeccability of the word all our relationships would change there be no laws no violence and no misunderstandings make it wise let's take a look at it out here we have the down industry is down six Nasdaq off 147 S&P's down 32 gold contract down $2 trading at 1673 announced we had silver down 49 cents 19 dollars 12 cents announced late sweet crude off $2 69 cents $88 42 cents a barrel notes and bonds a ten year note trading up six ticks right now at a price point of 1106 the 30 up 16 at 124 21 and King dollar King dolls up 179 ticks trading 113 329 the year is at 97 the yen is that out here at a price point of 145 and the British pound is at 109 to 1 US dollar iPhone numbers 877 9276 648 give us a call folks or know what's going on in your world so the 10 year note right now folks is yielding 3.944 no 3.933 and the high is 3.945 so we're gonna go over and look at this bond first because this is all about bonds well it's not all about but bonds and currencies are moving the market made a monster way so we take a look at this yep I can see it okay so last low well that was the high 110 19 you got the 120 1021 out here real question is is it going to be able to get off this baby well here's how it shakes out man this is gonna be interesting so 110 19 is the low that had 2.9 million contract so one we're at 1.4 yesterday hey we'll see I mean this is saying that there's a lot less sellers down this area and you know of course this one straight down from 122 you know down to 118 I mean one of 110 that 110 19 so bottom line is that you know you could get a bounce going there's no doubt about that so now let's go look at the broad market let's go take a look at the S&P first we'll take a look at the spy what you have with the spy is this so you're going into the swing point which is 357 04 we broke it and that's 153 million shares now we're only at 64 million shares so this is a big number man meaning that if this can close above the 357 04 today you're gonna get action I mean this is acting I can tell you this this is acting like it wants to make a bottom that's gonna last for a while now my take is that we're gonna go a lot lower in the S&P meaning about another 500 points but when you have a the way this is coming into lows it looks to me that we'll make it a bottom what I mean by that is this bottoms that last a long period of time actually do something like this like we've done today first you test yet yesterday was a test you know bottom line was Columbus Day but the bottom line the volume is a lot less today's a lot less and normally to try to get off something like this you know the nerves of there and I can see in this case here you went up you pulled all the way back and about two seconds flat and we know that we got the CPI coming out tomorrow we take a look at the cues the accuser in a different ball game there's they just I mean you know they they broke lower the real question I mean the cues in order to get to higher price have to get to 269 30 269 28 the volumes contracting there's no doubt about that volumes contracting but guess what that that's about it man because when you take a look at inside the cues you got a M gen up 5.3 percent microns up 2.8 Walgreens boots is up to taken away from it now this is the killer man lambs down 7.8 percent clack is down 7.5 you know we've talked about this so many times man the bottom line is that the chips take you up the chips take you down the chips have getting killed so and lamb research look at this isn't ABC down man this is a 453 this is a monster too you get what so that's what I say 53 so there's 53 plus what is that number plus 40 90 98 that gets a 308 well you're 324 you see it's a 308 it's down 25 bucks out here 304 is the ABC down yeah now look at this 309 is the high of the low I think of May 2020 these this folks that the COVID hot the COVID bar is what everything's going after man there it is right there look at that yep 309 man that's the highs and the lows and you can see I mean the bottom line is that we went up you come off the highs with volume yeah let's get over the oil market so the oil's taking a hit out here get the active contract it looks like you get some volume on this hit two men okay so you get 284,000 contracts that volumes not that high we may not yeah why was not that high you need another day like with heavier volume than today you know was stopping in his tracks though is the downdraft that was established out here on the 20th of August that's when the oil went from 96 to 90 dollars that stopped it in his tracks on the way up there's no doubt about that so we'll see where that whole baby's gonna shake out and we'll also see you know what kind of traction you're gonna get coming into this close because right now they're pressing they're just pressed out the lows meaning took out the lows and the real question is gonna be now this is what ends up happening because it's only quarter past three taking out the lows this would be the time you want to take out the lows if you think you're gonna get a turnaround you don't want to take those lows out a quarter or four you know 45 minutes left yeah you can see it's called a spike low folks you come into the low you test the low then you spike the low and then you get out of the low stay right there folks come right back