 Welcome folks this is Tom O'Brien of TFNN. We go five days a week we go seven hours a day we go 24 hours a day on the internet at TFNN.com. Always remember folks if 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 be impeccable with your word manifest your true intentions regardless of what language you speak your intent to be manifested through the word what you dream what you feel and what you really are will be manifested through what you say each and every day. Market wise let's take a look at it out here we have that our industry is trading down 211 Nasdaq off 150 S&P's down 45 gold gold contract flat 1996 an ounce we have silver down 25 cents $23.61 an ounce light sweet crude up 83 cents $72.88 a barrel notes and bonds a 10-year note up 46 trade in 113 19 the 30 up 6 ticks at 126 31 and King dollar King dollars up 333 ticks 103 535 the euro is at 107 the yen is at 138 the British pound is at 124 to 1 US dollar our phone number is 877 927 6 6 48 give us call folks I know it's going on in your world and the world of the S&P's let's take a look at them we're going with the future market first so take a look at these futures and they bring these babies up so what we have out here is that this low is another high-volume low so we're going down the lows which is 41 53 right now you're 41 59 but I also want to show you like last night we were talking about the aspect of that high-volume low from last night overnight and sure enough it went after it the bottom line is that you know market closed hadn't gone after it yet not only went after it but of course it took it out bottom line now what you have here now this was it always gets cool is that you know we'll see how this shakes out meaning is it going to I suspect we're going to go after it it was so close to it right now when you're so close to it it's yeah you're only seven points away from it so that thing wants to be taken out and you can see right now we are on nine minutes and if you're at the yeah you're a lot here at the three that's if we say the bar is putting quarters we're at the third quarter closer to the bottom so that's and you get an expansion of volume set expansion of volumes coming in so that's that we're going to go after this thing right now now it's gonna be pretty hard to basically blow that away because you get 63,000 contracts there you know but you know it's gonna go after it that's and your S&Ps we go to the end cues we take a look at the end cues they're gonna be set up similarly okay you know when they fire these babies off yeah there it is so the end cues same type of setup you know and the end cues there that's 20 that's 29,000 come 29,000 yeah 29,000 contracts at the low this last buy just had 13 but you can see it is an expansion you know this is yeah this is gonna go after that low that's the bottom line now notes and bonds notes and bonds this is gonna get really intriguing folks we get some divergence here the note and bond market they this rejected lower price out here today let's put this up and you're gonna see how this shakes out because this is like a classic almost okay so what we have is this let me put this here first I can figure out right where we're at okay so we're gonna go into that bar right there so we're talking here so watch this now you have 2.5 million contracts in the 10 year which is a lot of contracts okay but this is what you're good doing you're going into 3.3 million contracts and 4.3 million contracts and you rejected lower price so what that sets up is that that sets up a rejection of lower price just about at the 0.618 the 0.618 would have been 113 and we did 113.04 so that's telling me this note and bond market's gonna bounce again if we go over to the dollar now what we have inside the dollar the dollar set up to go higher I mean this this set up here last couple days you can see you go sideways four days straight up sideways four days you know the next move up in the dollar is the 105 to 106 area and then what is a wild card here is this gold contract because what we had in the gold contract so now this is the we're dealing with the let me just look at this for a second okay so I'm dealing with the August contract now so contract just rolled again man time is time is time is fast we got down to 17 1974 you rejected it 63,000 contracts that's like contract volume I know what I'll do I'm gonna go to the GLD for a second this is how you can check these things too to see the correlation yeah the GLD is doing the same thing man that's saying that you know the markets get nervous about this debt ceiling and you know you probably might get a little pop here I be I be careful that that's the bottom line I'd still be careful beyond belief because what hasn't happened yet is that the XAU as well as the HUI let's see where they went today okay they went to the same place let's pull this up when I mean when I say the same place meaning that they're testing the lows of two days ago yeah this test this test is coming in it's interesting so like on the XAU I was looking for 125 14 now we've got down to 125 77 when you get that close you know you got to really start looking at this okay now we don't get the volume until tomorrow I mean tonight at 815 gdx gdx gdx see what happens with the equities here for a second yeah it's late volume man they're not selling it but it hasn't tested it either so you the gdx you need that test then you know because that's a high volume low inside the gdx at 3158 that's that's how this thing shakes out you know and the bottom line is that you know you can expect the volatility to continue out here folks okay that's that's the bottom line you know right now you get the high volume low that's laying out there that hasn't got tested yet yet you're still not 41 on the SMP and you know we'll see how the rest of this shakes out we look at some of the higher volume equities out here and it's gonna be a toss up whether we have volume out here meaning expanded volume you get Tesla down two and a half dollars we get Pfizer up a buck you get and videos down 370 you get Google off 250 stay right there folks come right back currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe which is