 Welcome folks, this is Tom O'Brien of TFNN. We have five days a week, we got seven hours a day, we go 24 hours a day on the internet at tfnn.com. Always remember folks, whatever you think about, you bring about whatever. You focus on growth, hope everyone's having a great day, safe day, let's make it a great week folks. Create new agreements based on respect and love. Take the responsibility to make new agreements with those you love. If the agreement doesn't work, change that agreement and create new ones, use your imagination to explore all the possibilities. I got a rise, let's take a look at it out here. We have the now industrial's down 32, NASDAQ's off 73, S&P's down 12, gold. Gold contract down $8.40, trading at 17.63 an ounce. We got silver down 20, no, so gold is up 8.40 at 17.63, silver is up 29 cents at $21.41, light-sweet crew up $1.18, $78.42 a barrel, notes, excuse me folks, notes and bonds, 10-year note, down 8 ticks, trading 112, 21. The 30-year up is down 22 at 126.23, and you get the 10-year right now, 3.75. That's the yield on the 10-year, and King dollar. King dollar's up 166 ticks, trading 106, 847. The euro is at 103, the yen is at 138.72, and the British pound is at 119 to one US dollar. Our phone number's 877-927-6648, give us a call folks, wanna know what's going on in your world, in the world of the S&P's, let's take a look at them, what do you have? Well, bottom line, let me take a look at this out here. You get a pullback, and it's light volume again. You know yesterday we did 68 million shares, doesn't even look to me like we're gonna do 68 million shares, so we're gonna have some divergence out here, and the divergence specifically is that the S&P, you know, looks to me like it wants to bounce, okay? And the Nasdaq doesn't, that's the bottom line. When you come down with this much light volume, it's like, okay man, you know, we'll see how this shakes out, but I suspect, you know, I'm going with the Nasdaq that we're gonna go lower. And the reason folks, it has to do with more than just the Nasdaq, I'll show you what's happening. So when you take a look at the S&P, the S&P is saying that, hey man, you're coming back with way too much volume, little light volume, and that should go higher. That being said though, the MQ's on. The MQ's, right now we get 29 million shares, we'll end up doing like 50 million. Yesterday we did 38 million. You're coming into a swing point, now the swing point has 55. It's not, we're not gonna do more than that, but we are in the lower range. Once you get in the lower range, it's like, this game is on here, and the lower range inside of the Q's is out of the 284, you can see we're already four points into it. And the bottom of this range actually is 259, but it might take, we're not going there, I think we're gonna fill the gap. And that'll get people nervous enough, trust me. You fill that gap down there at that 268.56, it'll be like, okay man, are you gonna blow this thing out leaving on the way down? Because what does happen is that as you get accelerations on the way down, the first couple of days can be slow, and then all of a sudden it blows it out. Gold, we take a look at the gold contract out here. Gold contract went the higher price out here today. The volume's fine. You know, this is where we're rolling the contracts and we look at this volume, the volume looks fine. Now this is what, when you roll contracts like this folks, what you wanna wrap your head around a bit is that the, you know, yesterday we go down with 129,000 contracts today up with 122. So what I do there is then I go to the GLD and say talk to me, man, because the bottom line is that, that's the correlation, okay? And we go to the GLD, what you're gonna see is that we did 2.1 million shares, which is light volume extraordinaire. Yesterday we went down with 4 million. This looks to me like it's setting up a small ABC down, which that's kind of where I'm at. And the reason I'm at that is twofold. The first part of that is that we had a great runoff to the lows. I mean the GLD went from 150, let's see, on how many days? 150 November 3rd up to 166, okay? So you went up 16 bucks, you went up 10% and basically three, six, and 10 days, right? So that means that, you know, that just says, okay, it's time for a pullback. The way this is set up right now, you know, you get plenty of, the first leg, let me take this, go through this this way. So the first leg, once you, the beginning of one gap is 161.80, no, 161.51. I suspect it's gonna get into that gap. And maybe we hold, maybe we hold where that strength is at the 159, you know? And here it comes, and it's all about this dollar. This doll looks to me like this baby wants higher price. This is a nice little setup. I mean, you come down, you're hard and fast on the way down, you know, we made a low, the first low that we made out, there was a November 15th. That went down to the 107, 105.34. Did a small bounce. Then we got to the 105.32, a rejected lower price, which makes sense. I mean, because you get, when we look over this side, you're gonna see, this is where the strength was. That was straight from July 5th, okay? Big bar, you look at that big bar, you tested it. This is kind of like a classic technical analysis setup. Then you go higher. Well, when you go higher, the first place you gotta go is the .382. And we'll see if that's where it's gonna go. You go to that .382, we'll see where it goes to a .50, .50. And I suspect what we're gonna have here. No matter how many times, it seems that, you know, Paul is telling us what is going on. Meaning that the market keeps wanting to go higher and the Fed keeps saying, hey, we're gonna be going longer for higher for longer. So hey, we'll see where this shakes out. Paul's talking tomorrow and, you know, hey, we'll see where it's at. I expect that what we do have is this. There's not gonna be another .75. There's gonna be a 50 in December, probably a 50 in January. But the kicker here is not going up 50 or half a percent twice. The kicker is that the economy already is basically, you know, slowing down. If you want to see something that's really wild, check this out, man. This is, I saw this come up this morning and this says it all. And we'll get into this as soon as we come back. So the Fannie Mae and Freddie Mac mortgages in certain cities just went over $1 million, folks, okay? Can you check it out? So you get a million dollar Fannie Mae, Freddie Mac for single families. For everyone, the limit now is up to 726. So you, this is like, this is like, this could be all, we could talk about this for a whole hour. I mean, that means the 726 FHA, that means you can get into a $726,000 house for $14,000. Closing costs will probably be 24, but you make them pay the closing costs. Stay right there, folks. Come right back.