 Let's jump over to our man, Teddy Kegstad. Folks, you can reach Teddy every trading day at his website, forex-trading-unlock.com. We talk to Teddy every Wednesday at 40 past the hour. Teddy Kegstad, good morning. Good morning, Tommy. We got a lot to talk about today. Is there stuff happening in the market, Teddy? What's going on, man? Just a little bit. How about to kick it off, man? How about the volatility in crude? $10 in one way and $10 back up today, Teddy. Where do you want to kick things off? Well, with crude, I think it's winding, it's coil. So I mean, we set a range at the beginning of the month with the high, obviously, and a big higher swing low. And now it's kind of just getting tighter and tighter. And we're pretty much trading around that middle price of that new range that we've established. So I think right now, you've got to wait for the breakout one way or another. If we go down, I think all you're going to do is kind of test those lows from a week and a half ago. I don't see it breaking too hard. I would say that you would see it probably in solidation range right now for the most part. And there's a lot of other reasons why that's coming into. Remember I told you way before we got to this level, we exploded up to these highs. Remember I said, once we get to that $110 level, consumers are just going to start to be the drag on the market, so it doesn't matter about supply. Demand is going to diminish. And we are starting to see that. So I think that's kind of why the oil market is volatile without a doubt. I'd be very careful trying to sell this market, that's for sure. But I think that's why you're seeing a consolidation right now, and I am overall still bullish. I think one of the biggest things we need to talk about is what the Bank of Japan did and the Japanese government did on Monday. Are you aware of what they did? I'm not, but I pulled up the chart and I'm aware of the move that it had. So what's going on with the yen? OK, well, let me explain this to you. I am now short the US dollar yen, and you know I've been long for eight months. OK, this is a good one. Let's see, because I know this is a change, for sure. OK, the gold bonds are going to like this. Let's go. So I knew you would like this. That's why I wanted to get into this. So here's what happened, OK? On Monday, the Japanese government and the Bank of Japan said that they are not going to allow their currency to be devalued anymore, OK? So now you realize that it's not just the dollar that's been strong versus the yen. I've been saying all the crosses versus the yen have been in a bull market, you know? So the yen has been just getting pounded. So they drew a line in the sand on Monday. They said there's no way they're letting the US dollar yen get above 130, OK? So that means they are definitely, and they said that raising interest rates is on the table. Now, when was the last time you heard the Bank of Japan say they were going to raise interest rates? Yeah. OK, and the Bank of Japan is not like, and their government is not like our Fed and our government, where they're way behind the curve, and they're also not going to do a quarter point or something like that. They would do something like I would think they would do. They would do like what the Swiss would do. Instead of doing a quarter point, they're going to do at least a half a point. They may be do a whole percentage point right away. Just bring it. Well, especially if the market rallies up to 130, they're putting the brakes on. They're not going to do a quarter point and see what it does. They're going to say, we're going to get in front of this market because no one can control the market. But if you make a move like that, you can cause enough of a reaction where people are not going to fade that in the short run, OK? And I think you can expect that to happen, OK? So I'm still, right now, all the fundamental factors are there that would support the bull market that's going on. But this change in tune is huge, OK? And then the thing that followed this is that the Fed, our US Fed, came and reiterated how they may actually do a half a point at the next time, which I've been saying for a long time. Instead of doing a quarter, they should do at least a half a point and do it for several times to catch up. So and I think that the US Fed is now, they have a little noose on their neck saying, oh, jeez, this war of the central banks began last summer. The US finally got in. And with what's going on because of the lockdowns and everything and the supply chains, look what's happened to the Japanese economy. They were the first ones to open up back in December fully. They had the engines turning on in just what we've seen in the past two weeks. Yes, I was happy the last couple of times we've talked. Well, of course, I've been long. It's been going sideways for months. But now the Japanese know that initially it was helping their exports. But now it's getting to the point where they're not making any money. Everything's cost more for them to do. And it's great for us because the dollar is strong. But they're not going to sell anything if they can't make a profit. So and I think what you're going to see now is this is one of the big reasons why you're seeing the dollar index in a short term correction. Because the yen, obviously, is coming back. So dollar strength is losing there. Now you have the euro and the pound, which are the two biggest components also that have been railing for the past couple of sessions. Now I would be leery that right here's the thing is, everything is in a corrective mode right now and you have to view it. The US dollar yen, am I calling a top? No, but I think it's going to be really hard to make a run up towards newer highs right now. Now if oil starts to explode and the Treasury bond market and the 10-year notes start to go back on lows, which right now they're retreating to the upside, that goes back to their major trend, well then the US dollar yen's going to make new highs and go towards that 130 mark. So and that's when we know that then we have to watch out for the B.O.J. and that's telling you we're talking about the samurai's, they're going to come out as soon as that number hits, they're not going to say we're going to have a meeting in two weeks, they're going to actually do it overnight, whatever it's going to come, it's going to be like a Pearl Harbor strike. Because that's pretty intense when you tell the market too, right? Then they know kind of where the line is in the sand man, yeah, yeah. So and this impacts obviously the gold market, all kinds of other markets. So I think that you really have to watch the yen right now and it's going to be interesting to see how this pans out. It's because the rest of the news isn't covering this, which is I was stunned because on Monday, I obviously was watching it Sunday night. I'm like, oh my gosh, look at this is up at 123, 124, 125. It pulls back a point and a half and I'm like, well, this is normal. It just had such a huge rally. But I'm like, well, let me see what's going on with the news. I couldn't find anything. But then when I saw what happened with the announcement, I'm like, how is this not breaking news on CNBC? Like this is huge for our interest rate market, for the currency markets, and for us buying stuff from Japan. I realized that Hondas and Toyotas are made here, but we still buy stuff from Japan. Sure, not totally, man. That's why we appreciate you having it on, man, such great information. It's really remarkable how much is in the news right now, man. And that's probably part of it. Let alone Sunday night and Monday, all the talk about Will Smith and his performance, but we'll leave that for everybody else. Isn't that crazy? That overshadows the bank of Japan. You know, Teddy, it's remarkable, but then you add in all, I mean, we got, we just got ADP private payrolls, right? You got non-farm coming up. You had President Biden and his remarks about rush over the weekend. It's just so much going on. So just, I wanted to get your take real quick from the race is I find it so remarkable that, and I agree with you, and I think there's a lot of people, Citi put out their expectation, which is four 50 basis point hikes and then two for the sixth meeting. So you're talking about, you know, basically almost 10 hikes, if you add them all up of a quarter point over the next six meetings. So you're not the only one and I agree, but then you look at the market that's, you know, within 175 points, we got about 45 seconds. What do you think about the market if we get that type of action, which many people think we may, man, whether it's 50 basis points once or twice, what do you think the market's gonna do as we come into that? And I know you're Forex, but what do you, what's your take on the general market as we get this bounce? Well, interest rates are a function of currency pricing. So I am all over the interest rate markets. I think you're gonna see the Treasury bonds trading around 108, 105, probably by September, you know, by the September roll. You know, if we do get those, that kind of a degree of rate hikes over the next few months, for sure. We'll see you down there. Perfect, Teddy, man. Thank you so much for the time, for the update. We look forward to talking to you next week, man. All right, Tommy, take care. Have a great one.