 The following is a presentation of TFNN The morning market kickoff with your host Tommy O'Brien Good Wednesday morning everybody. I'm Tommy O'Brien company alive from TFNN 906 and Wednesday morning We got about 24 minutes to go until the start of trading and quite a reversal from yesterday's action Markets green to start things off. We're up a solid 57 points right now in the S&Ps training at 46 24 I got a daily chart up here just for some context of the run we've had Excuse me you back things up to basically the beginning of the year in the S&Ps and you're talking about a price range of about 3700 we're currently trading 923 points above that level We're almost 100 points away from all-time highs this morning You get the S&Ps up one and a quarter percent Nasdaq 100 continuing to show strength You get the Nasdaq 100 up 1.3 percent up 211 points actually had Apple positive yesterday with everything else going on the market Dow pulling back a bit You got the Dow off almost 2,000 points off its highs 34,783 Dow up about nine tenths percent this morning and the Russell continuing to be volatile quite the pullback You're talking about 210 points from the highs of 2460. We're trading at 2250 You're back in the consolidation area that we were in for the better part of this year starting in about February This morning though the Russell up 2.4 percent at 2250 you're the Russell down I think four and a half percent on Friday's action after they've given so the Russell particularly volatile Bitcoin this morning Positive by about 500 bucks or 1% of 58,000 jumping around the commodities. We got crude up a buck 67 yes trading at 67 86. I'm coming alive from Isla Marata, Florida On location this week speaking of crude 67 bucks We'll be talking to our man Teddy cake stat at 40 past the hour as we do every Wednesday from 4x dash trading dash unlock calm We'll talk to Teddy for nine full minutes about the 4x market Maybe we'll get into some commodities as we usually do Interested to get his take on this crude market with a little bit of a pullback Since we talked to him last week a lot's happened since last Wednesday in the markets folks We jump down to keeping with commodities natural gas if I can find my cursor here Natural gas continuing the pullback. We're down to 441. You're down another 15 cents Which is 337 and you look at the acceleration that we've gotten you back things up to just October folks and we were trading at 646 you're now under $2 under that price level at 441 on natural gas We jumped down to the gold contract catching a bid up $13 after pulling back pretty harshly And again back it up to November 22nd. You had gold pushing 1850 we're trading at 1790 right now and we jump to the all-important notes and bonds Little bit of pullback of the action that we had yesterday quite the pop you look where we were November 26th you got the 10-year and that is I believe that is Friday. Let me make sure Yes, that is Friday when you get the first acceleration you were trading at 128 30 at that point we make it all the way up yesterday to a high of 131 10 right so look at the volatility here We've almost backed off a full point from the highs already at 130 17 You're technically down 10 points on the session right now on the tenure at 130 16 And we got to jump over to the volatility index this morning the Vicks Currently trading at 2355 you see the spike since Thanksgiving We've been oscillating between about the lower boundary line give it 22 or 24 up to all the way to a high of 2899 for the Friday after Thanksgiving on the Vicks and this morning pulling back a bit But still some elevated levels gonna be an interesting open in terms of where we open jumping into the news of the morning Stocks tumble as Powell's pivot Boosts hike wagers markets wrap as as they put it bottom line you had chairman Powell talking about Doing away with the word transitory yesterday quite a statement from the Fed chairman Seems like this is the first indication that he is starting the public messaging campaign Regarding a faster taper and faster inflation hikes Powell's pivot on inflation turns the trader pandemic playbook on its head Things are changing folks. There was a lot of estimation expectations that maybe chairman Powell would Sound guarded sound cautious as he usually does dealing with a new variant out there But no that was not the case at all as what ended up happening as he said inflation is here That may cause us to raise interest rates increase the taper pace that we have going on Not what you may have expected if you were really so worried about growth and the new variant Coming in to hit the economy so interesting as that plays out What we also have this morning giving stocks a lift is we got private payrolls posting a better than expected growth of 534,000 in November Market was looking for 506 so this ahead of the number that we get on Friday for non-farm payrolls from the month of November Leisure and hospitality saw a gain of a hundred and thirty six thousand Services sector big time. That's what you're looking for 424,000 in the services sector companies with 500 or more at a 277,000 for the month growth especially strong in those with 1,000 or more workers contributing 234,000 employees of the 534,000 total Big companies adding in a big way unfortunately You may see it that small companies are the ones that are going to come out of here and suffer the most We've already seen it right over the last year and a half But yes that headline number 534 mark was looking at 506 the biggest companies They're adding in the service sector putting up 424,000 jobs that number out this morning and with that Let's jump around to some of the stocks Let's start it off with the fang stocks. All right, we'll jump over the Nasdaq 100 up 208 points right now You're trading at 16,000 355 Nasdaq 100 been probably the strongest industry Of the four during this little pullback since Thanksgiving day. We were up at 16,767 You're talking about all-time highs as recently as November 22nd Today's the first day of December folks right near those all-time highs now We jump around we'll start it off with Apple Apple shares yesterday. I mean remarkable Action going on in Apple you close it 165 30 We're gonna blow away all-time highs this morning up to almost 168 on Apple. You hear that almost 168 167 71 Apple's gonna hire open hire this morning Amazon has some news of their own. They're doing a deal with Goldman Sachs I believe Combining forces to offer some services on the cloud for the financial for their financial platform I'll bring that up in a moment, but Amazon trading higher by about 53 bucks Amazon behaving, okay You could say during this pullback still well off the highs that they had of about 37. What are we talking about 37 and change right? We're up to recently 3762 we're gonna open at 3560 this morning for Amazon. We jumped to Microsoft MSFT We're about $20 off the high you're gonna open this morning though Check out the pop $5 almost to the higher on Microsoft you close at 330 We got a bid ask of 335 check out the 15-minute action on Microsoft there You pop right on that four o'clock number. You had the markets bounce a little bit We even right after the close yesterday There's the sell-off of course with Microsoft and the market having to do with chairman Powell intraday We jump over to Google shares Google right now from 2849 we're trading up a bit Me see all the accelerations on these tech stocks man continued strength in a big way Google Looking to open up about 35 to 40 dollars higher this morning as well We jumped to Facebook shares Facebook shares up about four or five bucks Let's jump over to Twitter and see how they're handling a new CEO in that role. You see the volatility on Monday We dived down to a low 43 on Tuesday back up to about 45 dollars and change for Twitter shares All right folks, we got the S&P's up 55 points We're gonna be coming back talking to our man Kevin Hicks from TD Ameritrade thinkorswim fast market Check out their program every day at noon Eastern time live on Tiger TV folks. We'll be coming back We'll be talking to Kevin Hicks. 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We got the S&P's up about 56 points right now I'm gonna jump over the story I found and you know before we do folks It's a beautiful thing We got our man Kevin Hicks on the line every trading day folks noon Eastern time Kevin Hicks Tom White the team at TD Ameritrade Network on fast market they break down the day's action They talk about hypothetical trade setups talking about defined risk in this option market When we get the S&P's jumping one to two percent a day in the VIX above 24 folks You want to understand what's going on that option market Kevin Hicks? Good morning? Good morning Tommy O'Brien. Yeah whiplash alert for traders out there today Tommy I mean this market is yourself because it's moving all over the place and You know today's no different and this should get interesting We got some good economic data this morning with the ADP payrolls drone pile is speaking again Let's see if he tempers some of his statements from yesterday. Remember he was you know, Tommy as you know We hang on just about every word the Fed chair says and yesterday He was probably as hawkish as I've ever heard him and so For him to do that Let's see what he says today in day two of his testimony see if he softened at all because yesterday was pretty hawkish and the market seems to think you know We still have a 10 year of 147, but that was pretty hawkish in terms of Accelerating the taper, you know Remember now he didn't say he's gonna accelerate the taper He said he's gonna talk about it at the next meeting with comes up in mid December So pretty interesting turn of events here this morning Tommy Man Kevin, you know, I was thinking this morning We're getting ready for you to come on the program and I said a lot has changed Since I last talked to you 24 hours ago, man Because we were just dealing with whether it was the variant concerns or whatever was going on I get off the program Kevin at about 10 o'clock. I'm in beautiful island Marata, Florida this week in a little Little vacation staycation workcation, you know while we're here But my dad's in the house as well So I'm in there chatting and he tells me what Paul just said what's all that that seems that seems like some pretty strong language Right and then I say to him and just like that the S&P's drop 40 points And he thought I was joking and about 12 seconds later. He said I think you and I said yeah That's the S&P's drop point, you know, and we were just sitting there watching the market So pretty pretty interesting wording and and it will be interesting the second day, man Because is he gonna if he softens it a little Kevin is he playing a little bit of like good cop back cop Where his bad cop yesterday is gonna be good cop today, right and come back to the market or is he gonna be Reiterate what he said which man those are some strong words because of what they carry with the stimulus along the way With that in mind like you said we still have a market Kevin I thought you know a search and out headlines this morning and I saw a headline That was attributed to Jim Kramer and it and it spoke to saying there's value Maybe in the sell-off yesterday It might be too late to sell and I said to myself too late to sell we're so close to these highs How do you look at something like that like even Apple yesterday Kevin if we could talk about you have Apple trading to new all-time Highs yesterday and sometimes you hear sentiment that it's like too late to sell in this market Where do you go when you look at a company like Apple pushing almost 170 and the resilience of this market even as we get A sell-off of about 3% off the highs Well, Tommy, that's a pretty good segue because Apple will lead off today's show We'll talk about it and discuss it and figure out how to trade it and really the topic is what the heck is going on with Apple How in a soft market where three of the four major indices are Have Apple in them how did that stock manage to rally so strongly in a down market because let's face it with Futures and the pressure that they put on individual names that are in that group It's very hard for a stock like that to rally on a day like this But wow that was impressive and that's why we'll cover it today Tommy in the first segment of today's show I love it man. You read in my mind And you jump over in terms of Apple Kevin because I have the same questions, man That's why you know I'm always hitting you up with what I'm thinking about getting your take on the markets Apple sixteen point five billion shares sixteen point four zero six I'm over in the analyzed tab and the fundamentals in the thickest one platform sixteen point four billion shares Outstanding I mean remarkable this morning alone Kevin that stock is up more than two dollars. You're talking about 32 plus billion dollars It's gonna add a market clap. That's after the close yesterday let alone that yesterday Kevin We were trading at almost coming at about 830 in the morning of 158 So you're talking about adding almost nine dollars Kevin and as it stock with sixteen point five billion shares And we'll we'll leave it at that and we'll let you guys break down the action coming up at 12 o'clock Well Kevin we appreciate the conversation the education as always We'll be tuning in at 12 o'clock today for the conversation and for that Apple take as well man. You have a great day Thanks for having me on Tommy. Have a great day. Always a pleasure you too Kevin folks You heard it there Apple. I mean remarkable when I pulled that up I had the same questions myself right trading from 158 and think about that think about that Apple yesterday from yesterday's open added 140 billion dollars in market capitalization versus where it is yesterday and I think Adding a little personal bias, okay that it speaks to what Kevin was talking about there that you know They are the biggest company out there people are looking for an area of somewhat safety The amount of cash that company has on a yearly basis is going to provide them the strength to Overcome whatever volatility in the short term this market may experience I'm very bullish Amazon on its own right, but they come to mind in the same way And they've been pretty resilient if you back things up to Friday's action Amazon is trading at 3562 you back it up to Wednesday prior to Thanksgiving we closed out the action of about 3578 so basically right in line with where you were now Microsoft You know you can almost lump them all together Microsoft not quite the same as Apple quite a sell-off, but man you almost got it all back as of this morning We're giving back some of that right now But Microsoft's up about $4 and you are seeing some of the biggest companies out there folks and my take would be is that this is a very short-term Volatility spike that could be a short-term pullback as in if the variant causes some travel Restrictions which it already is doing internationally in Europe Potentially in the US as well that is going to cause some economic pullback But in the long run this is nothing like when you're talking about you know 18 months ago going back to March of 2020 nothing like it at all now for some context there I referenced what I was talking about with our man Kevin Hanks and I had to pull up the headline folks And I don't watch Kramer. It's entertaining at times. I'm sure he has some good information out there occasionally But the headline just made me chuckle Kramer suggest putting some cash to work after Tuesday's decline Excuse me now here's the thing I can completely agree with this It might make sense to put some cash to work after Tuesday's decline In the long term it made me a buying opportunity But the fact that you think it's too late to sell folks if it if if selling is necessary it It will not be too late to sell it may not be too late to sell just putting that sentiment out there You have to consider the context folks of let's just look at what a chart of the S&P looks like and here we are and you have the most notable TV pundits out there in the financial arena saying that it's too late to sell That's a scary phenomenon folks. Okay, you're basically sitting at almost to the tick all-time highs Yes, you're 120 points off in the S&P. That's not to the tick. Okay But this chart goes back to the beginning of 2020 folks. We're not even two years out You started 2020 at 3200 we're trading 1400 points above there. You started 2021 at 36 and change 3700 basically when 900 points above we're at starting the year after the run we had during COVID after a low of 2174 and you have people telling you That it might be too late to sell now I appreciate it Fletcher. They're talking to me. He's talking about stocks. They're 30 to 40 percent off the highs Not the indices that would make more sense But boy these indices trade off those stocks are gonna get hit too and that's the thing to think about You know if you're going into like I'll even be more exaggerated, right a zoom at 211 You get a big market sell-off. It's gonna sell off as well. We'll be right back for the open folks. Stay tuned Are you having fun trading the markets? 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We got the S&Ps up 54 points Nasdaq 100 up about 190 Dow up 320 Russell up about 2% up 44 points We jumped a crude crude up $2 and 11 cents right now trading at 68 26 We jump over to that gold contract this morning gold contract up about $12 trading at 17 88 Let's jump over the VIX with the markets open We got the volatility index sitting at 23 63 not back quite back to the lows We had on Monday, but actually just under the lows we had at the flash Sell-off when you had yesterday morning We reached a low in the VIX excuse me the acceleration before the market really sold off there We had a VIX of about 24 so kind of just right at those levels. All right, let's jump around to what else we have going on Salesforce out with their numbers last night disappointing the market you trade down to 261 We do have some sales force in my newsletter rocket equities and options You're popping this morning off those lows up to 274 You're still down about 3.7% on this equity this equity really selling off yesterday as well We were at 2.99 so you get back almost 40 bucks from where we were at 10 a.m Yesterday to where we were when they came out with their numbers after the bell for some context on the daily Break in below that channel line not what do you want to see you're up to 311 all-time highs You've pulled back now to 273 getting into the sales force numbers. So they miss on their guidance Never want to see that. I am a bull on sales force though. That's for sure Earnings per share for December quarter are going to be between 72 and 73 cents And that's where market was looking for 81 cents for that quarter in terms of the quarter They just reported they beat a buck 27 versus 92 cents revenue 6.86 versus 6.8 Sales up 27 percent from 5.42 billion in the same period a year earlier The company expects between 7.22 and 7.23 billion in the fifth quarter Raising its previous guidance and coming in on par but the earnings are where they miss 72 to 73 cents market was looking for 81 Sales cloud the company's core product that sales people use reported 1.54 billion in sales up 17 percent Their service cloud business up over 20 percent just staggering numbers in a big way But market making them pay for a little bit of a profitability miss this morning And uh, yeah, we're down about 4.6 percent right now on sales force All right and jump back to the s&p's so you can see given back a little bit of the action s&p's up about 45 points We were up about 56 to 50 a coming in you're still popping 1 percent Uh in this market and just back to that kramer piece real quick folks because I had to point out because you know This is the cnbc article. He airs on cnbc. This is the headline That they're getting looks for right putting some cash to work. He specifically talks about an s&p Um index fund given that it's a good idea to keep some money in an s&p index fund for your retirement You have my blessing tomorrow morning to commit some capital saying uh after the s&p fell 1.9 percent Dow dropped 1.8 too early to buy hand over fist. He talks about putting a quarter of his uh money at play And i'm not saying that's a bad idea folks especially Now I would go the other way like flech was saying, you know, you're talking about individual equities that have just been punished I talk about disney. We have disney in my newsletter folks disney is one that I would say is you know an area that you should begin thinking about buying and I would consider it too late to selling. I do have a stop in there But at this point you are back to levels that you've almost seen talking about may of 2019 disney pulling back from 203 to 146 Quite a different story when you say that you do a show and talking about an s&p index fund Say and invest the quarter of your free cash when you're trading at 46 10 the markets at 47 40 um There may be better buying opportunities in this market if you think this is the buying opportunity Then that is not a pullback folks. You know, I mean you go from Just the run we had last november when we started getting the vaccine numbers, okay And that's starting from a price point of 3200 not a price point of 2100. Okay You're talking about a 382 retracement That's a solid What do we 440 points? Below and that's a 382 and that's an area that we chopped around in from april to june And again, we started the year off folks at 3700. That's talking about only trading back to potentially 4100 Okay, that's still what a 12 acceleration for the year Even if you get that pullback the s&p would be up 12 for this calendar year Little on the returns we had in 2020 after trading down to 21 74 Just keep that in mind as you hear that because if that's the real sentiment that it's too late to sell Across the board and people should be thinking of adding to their index funds If you're a super long-term investor. Yes any pullback you could rationalize you can gain some Edge on the market as in you're buying 1 to 2 percent below where it was at just a day prior But boy be aware of the pullbacks that are possible and keeping some cash dry For the possibility of that is something I would consider folks when you're sitting basically at all time highs Okay jumping around to some of the equities they're making moves this morning. We talked about sales force You have hula packard enterprises. They're down a bit pre market will jump over to see where they are as the market opens Revenue just a miss of 7.35 versus 7.38. They have a profit though. That was 4 above hpe is their symbol Excuse me down about 2.4 percent So far for hula packard enterprises Let's see I wanted to get into yeah goldman sacks amazon. So they were both hired this one and we'll see how they open CNBC wrote it reported that goldman sacks is unveiling a cloud service for wall street trading firms backed by aws The new service is called gs financial cloud for data with amazon web services Goldman was up almost a percent amazon was up 1.2 percent amazon shares up a percent right now to open And goldman sacks shares up 1.4 percent We put things on a little bit shorter term time frame to see the volatility on that goldman sacks up this morning with amazon on that news Lenar was up after an upgrade from goldman goldman says demand for new homes remain high It remains high in the country len is their symbol lenar up 2.3 percent giving back some of the gains on the open though Let's see crispy cream Uh, they are a little bit lower after they get a downgrade door dash is higher after gordon haskett initiated a uh upgrade of the stock with a buy from a hold The omnicron variant could spark a rebound for the food delivery I don't know if I see that happening folks, you know, you start going I guess Globally, but door dash. I mean they did just make an acquisition to do that They're up 2 percent on that news But I don't know if I see it drastically reducing the amount that we are if you're already comfortable eating outdoors in some Um as a restaurant in some capacity. I'm not sure that's going to change that behavior the new variant Either you're probably vaccinated. You may get your booster. You may feel comfortable You maybe you're dining outside. Maybe you're going to restaurants occasionally. You're comfortable with Uh, but I don't see or you're not and you're comfortable. Anyway, I don't see it changing behaviors to that degree Nonetheless, they're getting an upgrade on possibly more delivery uber shares up 2.3 percent probably on a similar deal going on on uber as well Excuse me. Let's jump over to tesla our man elon musk continuing the run up about 2 11 66 remarkable tesla I mean tesla's almost clawed back all the losses they got from the ceo selling Uh, what is that a a 10 figure sale in terms of you're talking about 10 digits 10 billion dollars You're at 11 67 Basically near the higher end of the consolidation towards the the the highs of 12 43 for tesla shares And we jump around to what we got going on the airlines as we got a little bit of a pop as well American up 2 right now you got delta shares up about 2 as well We jumped to the cruise ships carnival up 2.7 these stocks have been pummeled Norwegian up 3 and we'll jump to the cannabis stocks. Can't it be continuing the slides 10 64 Stay tuned folks. We'll be coming back with our man teddy cakes dad talking a little forex talking a little crude very back Are you in the market for buying or selling real estate in the bay area? Including the surrounding st. 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Uh, welcome back folks Let's jump over to our man teddy keg stat as we do every wednesday at 40 past the hour from forex dash trading dash unlock dot com Teddy keg stat. Good morning Good morning. Tommy So last wednesday teddy. I was talking to you. You were on your beautiful balcony with the foliage Uh, and this week i'm on the balcony man talking to you for some beautiful backgrounds But quite a difference in the markets, man We have a lot to digest in terms of friday the action of course And then this week and yesterday's action with chairman powell. Where do you want to kick things off? Well, what a difference a week makes, huh? You know, um, well, why don't we why don't we start with the end? So, okay, uh, we can tie it all together So when we spoke last week on on wednesday I was telling all your viewers stay away from holiday markets probably good advice for most people after what happened So Yeah, so uh, well now it's kind of interesting, you know Thursday was the holiday obviously and then a thursday night into friday Was where everything happened. So let's digest what really happened now. Obviously, they were hot fin holiday markets Okay, we had a huge move in the interest rate market. Obviously. We had a ten dollar sell-off in oil So what did that do it knocked around? Well for one the interest rate move impacts the dollar to begin with Then the oil move also shook up all the you know, remember we had the oil trade on for like the yen the canada uncertain, uh Different currency crosses all of those were impacted huge. I mean you can tell by the chart the yen I mean it was kind of funny because thursday night. I had a short-term sell signal and we were right below my 116 Target, you know, so i'm thinking well, you know what? It's a holiday. I'm just going to liquidate my arms and just put a couple Shorts on and just risk the high. I'm like it's a low-risk sell and we're right below my target, right? Wake up the next day catch a three dollar move. Whoa, what was that all about? You know, so And uh, so these moves don't happen, you know, typically unless there's like news, you know This was a holiday exacerbated move on a thin market short hours in the u.s And what have you going into a weekend now? Obviously monday what tuesday was the digestion period where we're at right now, you know now oil, you know It's the it's the covid scare. That's what's going on right now, you know So we haven't had you know when if we start to see lockdowns in the u.s Obviously and keep on pushing around the world. I mean germany and austria are not looking good right now, you know So that's where we we are definitely having the covid trade back on the table But I would be leery of this oil sell-off now. I know I've been a bull calling for a hundred dollars, you know It's not about right or wrong here. It's about what's the reality of things Um Unless we're going to have a slowdown in pace with everything especially globally Oil's just taken a nick. This is this is a knee jerk reaction to fear, you know So kind of like what would happen after months of what was going on during the covid trend we were bought when we were trading lower and stuff like that Um, the fact is that supplies of oil are not oil is not running out Oil's just not getting to where it needs to go. So the question of demand is there, you know So I think that's what you're really seeing with the end, you know, especially for as far as most of the currencies And let's start with that one So we had a nice correction. Okay. We're coming off of multi month highs You know a two three day sell-off does not a fair market make, you know And especially with the with the extent of the range that happened over friday and even the volatility on monday and tuesday You know, so at these levels, here's what i'm looking at, you know, you look at the dollar index, okay That peaked obviously last week going into the holiday It's coming off a high, you know, so i'm looking at all of these moves right now as a correction Not as a trend changer or anything like that because what's changed in the world Nothing, you know, except for the fear factor, you know, so I think that's what we're trading on right now Um, I'm still bullish the the u.s. Dollar yen overall. I think that was a good buying area Long term. I mean unless oil continues to get a slide But I don't really see oil getting below 60 bucks a barrel let alone into the 50s anytime soon You know, and even if it does I think that'll be an exacerbated spike And you'll have a balloon underwater rally So I'd be very careful getting caught with these What i'm saying are corrections right now. I think your counter trend trades you have to view it as that And manage it like that as well Yeah, I love the take man and even on on on crude which is remarkable I was just playing with some fubanachi numbers, uh, teddy And if you take the run it's a remarkable run and not even going from the covet lows, you know Where it's down at six bucks or negative, uh prices after you consolidated when you take the price Where you go from basically the breakout of the markets in november of 2020 you pull up a 3a2 folks of that entire run Okay, and that run starts at 35 dollars basically or even lower 33 64 I have on my chart up to 84 We've just touched teddy a 3a2 retracement, which is a pretty standard retracement Um on that pullback that we had from 84 bucks and it's a quick pullback I agree back to 68, but it's important for that context sometimes I'm not I don't know if you heard the start of the program I'm kind of trying to bring listeners into the same thing when you hear pundits like kramer saying You know, it's too late to sell no matter what you're talking about You got to look at a long-term chart here and see where we come see where we've gone Uh, you can't I wouldn't allow even a sentiment like that to come in my head teddy, right? Like i'm not sorry You start thinking it's too late to sell when you almost you have the biggest company in the world at all Time high as apple remarkable resilience. You have the s and p's within two or three percent You know, I don't know the exact number. It's two or three percent, you know, basically as we chop around here That's one day's move teddy, you know on the market action So in the crude sentiment, I kind of agree that listen if you don't think a 38 retracement It's capable when we were at negative prices up to over 80 dollars a barrel basically Of course a pullback. Uh, it's important folks Uh, okay, so good take on the end. Well, what other currencies are you looking at this week teddy with everything else? That's kind of in play I would I would definitely watch out for the pound, you know that we saw it I had a buy signal in the euro a couple days ago So that's that's why I think this is a correction when you when you look at the dollar index The major currencies are the euro and the pound the euro obviously is set a short term bottom It has is trying to have a nice little correction The pound is bobbling off the lows like it looks like it wants the bottom But it also looks like it wants to slam the lows again, you know now I am short term bullish the pound, you know, I'm not very bullish But I can see a nice little correction over the next I think the dollar is going to be under pressure for the next week or so You know, unless we have a big turnaround and oil and a big sell-off and rates now you mentioned pal We heard something out of his mouth now as over the past couple days that we haven't heard yet Inflation is here to stay That's huge, you know by the fed taking that stance That means now they're going to do or lean towards which I think is always the wrong thing in an inflationary environment is to raise interest rates Of course, we can't cut rates because there's nowhere you can go anymore, you know, so And I think you have to watch the bonds like the activity we've had in the forex market You had a three this is where we're especially going into thursday, you know after we spoke on wednesday You had a three dollar move into 30 year treasury bonds on a holiday market off of no news a rally Okay, so that's where you've that right there gives you weakness in the dollar that's set us up for weakness Then you had the sell-off of 10 dollars in the oil market on a friday holiday market So when you combine that level of of market action in those two variables Which the interest rate trade is always on the table on the table for the forex markets the oil trade We know we've been talking about it's been back on for a couple months. It's there So when you have that level of movement, you know what I'm saying It's sure to shake up the other ones. So now it as long as Like I'm saying as long as in the short run oil stabilizes kind of where it's at You don't see an interest rate move that I think you're going to see a bounce in the pound It's you get a rally in the pound is very likely to see a continuation in the euro Very likely but not very extended. Um, the u.s. Dollar swiss is the one where I think you're going to get the Tell me hang with us for one second. All right, because we're going to break. 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That's 877-518-9190 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 and p is up 48 points right now We're talking to our man teddy cakes dad and teddy I just didn't want you to have to rush through that because I like the way you were working through each one towards the end They're just talking about whether it was you know the crude the pullback The the forex markets how they were reacting if you could just Continue with what you were saying there Yes, so the swiss light the end was it was one that got bad it down pretty hard I think it's an overdone break But I still think it's it's prodding the lows right now and like we have the oil numbers coming out today Oil's up a little bit right now on the day That's what's really dictating these trades as far as like I said, I think it's a correction So I think you're going to still see the u.s. Dollar swiss Tread I'm support for the next couple of sessions or so And then we get to we already spoke about the end Australian dollar New Zealand dollar those are two that are just in the gutter I would be very careful with any bounce in those markets period right now, especially with the lockdowns in australia On the u.s. Dollar canada. That's a touchy trade I It's it's been pressuring resistance right now And I think a lot of that has to do with With the with the current trend of what happened over the past couple sessions, you know I'd be very cautious buying the u.s. Dollar canada right now. That's a very touchy one It's in the middle of an area where long term. It's a bear still it's in an upside correction And there's just too many variables there. It's hard to lock in a trend on that one But the thing I think you really need to key off of is that Right now all these markets are in a short-term correction Or at least you should view it as a short-term correction and not a trend change never try and pick a top Okay, that's important and especially with the way the bonds and the oil market have moved these markets over the past week If you start to see a big sell-off the 30 year and the 10 year bond And if you see oil get another five six dollars higher back up into the 70 mid 70s or something like that We're back on the regular trade where we were a week and a half ago meaning that the dollar bulls will come raging back So and markets tend to go out like they come in So you've had an aggressive sell-off in the u.s. Dollar yen an aggressive sell-off in the u.s. Dollar swiss Don't think that if those other markets turn that we're not going to see the yen back up at 115 I mean you don't have a three dollar sell-off in the in the yen on a holiday, you know It's no I love the way you walk it through man understanding how the commodities are driving the currencies are driving the action Well, teddy, we appreciate the update man. We look forward to talking to you next week All right, have a great one man. We too. Thanks for tuning in folks. Stay tuned. We got the azzle live at 10 We got our man larry live at 11 live programming all day folks. We'll be right back