 It's a presentation of TFNN. The Tom O'Brien Show is produced every business day. Tom takes your phone calls toll-free at 1-877-927-6648 internationally at 727-873-7618. Let's go to Alan Homasa. Hey, Al, what's going on? Isn't it wonderful? This gentleman here with the gold report, right before the market fell apart, ended up with PAAS. We had a 98% gain in the year. And I mean, we weren't 99% proof like Irish whiskey, but we had a good gain there. You always told us to do what we feel comfortable with. And I lose a little bit of money on the table, I will, but I know that I just pocketed $8,000 or $9,000 in two weeks. That's a beautiful thing, man. Now, Tom O'Brien. What's going on, folks? This is Jacob, TFNN. Tom earlier today, around 11, so you can check the archives after this show if you want to see his show from earlier. So let's take a look. Obviously, big news of the day, crude oil going up. We're at $86.50 right now. The Saudis are going to keep that 1 million barrel kind of restriction that they've imposed on themselves throughout the year. That's 1 million barrels per day. It's a little bit difficult kind of outlook, especially given we're trying to tame inflation over here. And that was always one of the things that ran the greatest risk, at least in my opinion, looking at it would be fuel costs, right? And they were a large component of what was driving it earlier in the year. So I believe they also, I think Russia said as well, they're going to maintain lower output. Of course, they're sanctioned currently, so that doesn't affect us in the immediate way that the Saudi cut does as well. The other OPEC producers are also just struggling to produce what they were required to. Of course, the tune has changed now, with Saudi Arabia also reducing that down as well. Look at Disney today. It's such a sad sight. Well, at the beginning of the year here, we're trading at the highest, like 118 right now, 118.22, and we're down at 81. And they have just some woes going on. It'll be interesting to see how they can bounce back from it, obviously streaming. It wasn't as good as everyone anticipated it would be. They still hold, obviously, the kind of monopoly regarding parks, right? But they had flops in their movies. Of course, Star Wars didn't pan out the way that they intended. These movies made a lot of money, but it didn't have this kind of long-term staying power. I think they were anticipating. They recently had to close down one of the hotels they had in their Star Wars park. It was very pricey, and of course, as things are getting just more expensive in general, it kind of made sense. And we're seeing some cost cutting by them. And hopefully we can see a decent restructuring after a certain point, and we can get back up out of this 80, 80, $1 price level. I know a lot of people bought in at much higher prices as well. So we'll probably have a long-term hold on Disney for quite a while, especially if you bought above the 90s. I mean, this was trading good of the three-year, stuff like that. I mean, when was the last time this even traded at this level? I mean, we're going back five years right now. It's trading at 120. So I mean, we're well below five-year levels here, good 15-year. I mean, that's pretty insane, right? Around 2014 area. So they have a long way to go. It might be like a dark age for them for a little bit. I still believe they're a powerhouse, right? I mean, they might have some issues currently, but maybe this might be a wake-up call for them. Again, a lot of their movies kind of flopped a little bit. If they can really recapture some kind of culture there to make it better, I think, in the long term, we'll see these guys come back. I mean, it's Disney, right? It's massive. So there's some issues along with ESPN as well, regarding some kind of like, I suppose like streaming, like the fundamentals on that, right? The particulars on it. And ESPN was having some issues as well, transitioning into like direct-to-consumer, and they're still, you know, still working through that as well. That was gonna be a big thing for Disney if they're able to get some kind of rights regarding that. But then the outlook for ESPN kind of went down a little bit as well. Let's look at the ESPN here. The market today is kind of sideways, lower. Obviously the NQs are, you know, again, marginally up. Same with the QUs. Tesla's seeing a great day-to-day, really hovering around like a 5% up. There is a lot of news about their Cybertruck coming out, so we'll see if that lives up to the hype. Elon is saying that you can actually drive it in water for some period of time, as long as it's not too deep, which is a wild claim. Steel Dynamics around that 105. Again, we just keep bouncing off this $100 area. This is consolidation. And then, you know, resisting this with low volume, again, kind of a move to the downside. Factories output in America has also declined a little bit. So that might be kind of downward effect on steel as well. The dollar obviously blew up today at 104.81. This depressed gold a little bit. You can see the gold contract, not too much. So we're still at 1951. The Dow futures, again. We're just sideways to slightly down. I wanna take a look, let's see here, at Walmart, because they've been knocking it out of the park this year, especially as, you know, we get this weird V-shape kind of thing going on, right? Someone that I knew in one of my friend groups was asking like, are we in a recession right now? And it's not, you know, we're not in a recession. Okay, there's not like contraction over certain quarters, but I think there might be some kind of V-shape experience going on with Americans, right? We saw maybe in May that a shopping spree by people who are a little bit wealthier that really helped prop up the economy a bit. People in the lower end, however, they're definitely having to cut back a little bit of their spending, you know, so they might be experiencing some things related that would maybe, I don't know, seem recessionary, right? Not as much spending. Walmart has really come in on that, particularly in their grocery section, right? We had high food prices in the beginning of this year. There's been some kind of stabilization in that, but Walmart has been up 13% so far this entire year, which is massive, you look at Target, which is a similar kind of competitor. They haven't been doing it as well. And so really the big difference between these two companies, and really for the purposes of what we're talking about, is Walmart's grocery section. They've been able to have very competitive prices regarding their groceries, and then they've been able to convert a lot of their people coming in to buy groceries into the rest of their product lines. They cut back on owning some of these, you know, clothing companies as well, some of their clothing brands, they sold those off, and they're doing quite well. So on Thursday, this was last Thursday, reached a record closing of 162.61 a share, we're back down just marginally from that right now. Stock started in September, near its all-time high, obviously it closed off 161.56, and this year the company shares are up more than 13%, and that's higher than the Dow Jones industrial average, year-to-date gain of almost 5%, and significantly outpaces Target. And Target, obviously they got hit with a little bit of some, you know, political scandal, I guess I could say, I don't know. Regardless, they were down pretty substantially and year-to-date, they're down 16%. Pretty fascinating. And again, the analysis from this is they're able to really get these people in for their grocery business and then convert them pretty easily. They do a great job at that. Folks, stay tuned, we'll be right back. We have Basil on today, and we have some more interesting things to speak about, so stay tuned. 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 why it's a great time to try out Teddy Kegstad's Tiger Forex Report. Teddy Kegstad breaks down the forex markets every Monday using his 30-plus years of experience as a trading veteran of futures, forex, stocks, and options. 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Toll free at 1-877-927-6648 internationally at 727-873-7618. Welcome back folks, take a look over here. This is the opening call newsletter by Basil Chapman. Again, I've sung my praises about this, rather sung Basil's praises about this newsletter. It's fantastic, seriously. Goes in depth, but it's concise as well. He had a subscriber webinar August 23rd, so when you subscribed it to any newsletter, right, you get access to the archived subscriber webinars. It's awesome, if you're just getting into trading, these are phenomenal. If you're interested in one host or the other, you get a better insight, and Basil's webinar was fantastic. Again, that is a 30-day money-back guarantee if you are a first-time subscriber. I strongly recommend checking out the opening call. Basil, are you with us? I am, hi, how are you, Jake? I'm doing well, how was your Labor Day weekend? Well, the Labor Day, yeah, it's all too quick. It's actually the first three-day weekend, I can remember, that we've had sunshine all the way through the weekend. In fact, first weekend, we didn't have one day of the weekend with a big storm and the next day nice. Right. So this was a pleasure, and I'm just upset because for us, it's pretty much over. The 90-degree weather will have some this weekend, and then afterwards, it's just downhill. Right. Yeah, well, coming out of the hurricane, it was nice having some good weather. We had a cold front, but for Florida, that was like 88 or something like that. Right. But it was very nice. The body gets used to the temperatures. It might sound to someone else like, wow, that's warm, but when you get used to something and it changes, well, it has its effect, yeah. That's right, you gotta be adaptable, right? Absolutely. So Basil, what are we looking at today? So talk about adaptable. This is what we're looking at here. Within the, well, first of all, let me just give you a just brief synopsis of where I am from my subscribers to opening call. We did go short the Dow using some of the techniques, or at least one particular technique to get the high of the 1st of August at 35,679. So right there, we went short, and we are short the SMHs, the semiconductors, from two days after the high, about a point and a half off the all-time high, and we had real nice trades down to the 143.35 low, and we were using the SOXS, the short side of the three-time short. So we kept the call position, we've taken a little bit of, and then we've taken everything off the short side in the aggressive 300% short. So we're watching this to see. Now, we're talking about adaptability. Well, I like to think that the SMH is a semiconductor chips, the semiconductor chips itself. If you think of chips in the 21st century as the crude oil of the 1900s, because there everything, not everything, but just about everything had to do with petroleum products. So now almost everything has to do with semiconductors. So my contention is that where the semiconductors go, basically the market is going to go in that direction. So it made an all-time high. That was a good clue. We've had really good rallies in the different indices, but the stalling formation that started in July, I think it's going to continue a little while longer with sporadic bumps to the upside. So in that regard, the semiconductors are saying, hey, don't think that it's all over now. We're still showing some strength. And in that regard, I'm using that kind of as a benchmark to say we're in for a very choppy week. That's what I see to subscribers on Friday. And then for my subscribers, I do a one-hour video, either Saturday or Sunday, just going what's happened, what I'm expecting, the different indices, what positions we have, how we're handling, et cetera. So it's an educational as well as a very practical experience. But in that context, so going back to the... Let me just do this right now. Going back to the Dow, you can see this has been a very good rally off the low, 34,028, but it's stalled at this trend line. So this is another technique in my show tomorrow, in my Tiger Technician Hour. I'll talk about some of these patterns that I've talked about, the falling axes, the declining cone formation, how you get into the inside track resistance area. And you can see the S&P has done much better. It's broken out of that resistance level. And it's just stalling here. So I like to look at different time frames. And if you look at this daily time frame on the left, it's very different to the weekly. The weekly is still very strong. I use something called the nine-period moving average over the 14. And look how high it is above the 14. And that shows strength, even the Dow, which is one of the weaker indices at this... Well, except for the IWM, the Russell 2000. Small caps. Look, it's still holding pretty well in the weekly chart. I don't want to talk about the monthlies. I'll do that on my show tomorrow, but the monthlies are also holding quite well. So what I do, I like just for my subscribers, I like to get stocks or ETFs or whatever it is. And if I can get them really low priced, it allows subscribers who say, you know, I don't want to put a lot of money to work, but I do want to be involved in whatever it is that's moving in the direction, at least the direction that shows some strength to the upside or weakness to the downside. So we have a stock and it's interesting because you can see how the crude oil has been moving higher and higher, but we have something in the energy sector, uranium energy core. Awesome. So we're in that at $3.46 a little while ago. And here it is today at $4.72. I mean, that's 25 or 26, 7% increase. But what's nice is you've got a stock acting very well. You've got a stock in the daily, weekly and monthly charts improving. There are techniques that I use. This is cup formation. And this particular pattern says, you see this dash midline. If you look at the left side number of bars and the right side number of bars, look how we went to that $4.30, $4.30 goal of earlier this year in almost the same timeframe. Number of bars to the left of the downside and number of bars to the right. And then I have another technique called the Chapman Wave Cup and Ladle, it's a breakout pattern. It's not the cup and handle that stops at the left side lip. This says in leg C, or B, you go straight through that left side lip. And that's the lip on this side right here at $4.30, the week of the third of February, we broke out of it sharply in this leg C. So that suggests that $4.30 is a support level and that we should go to at least another higher peak. So this is leg C. At some point, we should make a lower high that makes a peak C, and then we should go to a leg D. So that's another technique that I use. So I like to put all these different techniques together so that what we're doing is we're following a game plan and that's the case here. No, and I think that's what's so good about your newsletter, right? Like, you know, at least for me, like starting to work here, I was a novice regarding, you know, any kind of trading and especially technical analysis and really, I mean, just how you explained it there, right? It's explained exactly like that too, in your webinars, on your show, in the newsletter, and it's something you can follow through, you know? I think also getting exposure to something like uranium, which, you know, doesn't get looked at a lot, still very like fascinating kind of commodity, right? I mean, it's just, I think it's awesome. And I was really insightful too about the semiconductors as well. I think looking at that as like an indicator going on is massive because you're right. Without tech and, I mean, what is tech, right? It runs on these semiconductors. You don't have anything that this world's built on, you know? That's really fascinating stuff. And the interesting thing is we don't know yet whether we're about to have a glut because, you know, all have lost over the last 18 months, they've been building fabs and they've been producing the chips. We'll see what happens. It's gonna be a very interesting September and October. Absolutely. Well, Basil, if you can, stay with us just for a little bit and folks stay tuned, we'll be right back. Sure. Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master. 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Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit watch Tiger TV. Welcome back folks. How'd Bowser go off at the end of the break there? But again, I'm gonna push this through opening call. Check it out 30 day money back guarantee if you are a first time subscriber. All right, let's take a little look of what's going on right now. One of the, let's see here, I'm gonna pull it up. Bowser's Den, I'm gonna pull it up. Let's see here, pull it up. Basil was talking about chips a little bit. There's a lot of interesting development with that. Obviously there is a little bit of a trade war going on regarding China and chips. We're blocking them from purchasing some of our chips which is, you know, that's massive, especially for AMD and we take a look at AMD quickly. They've been doing all right at 111. Obviously they haven't shared the same kind of win, you know, at least Nvidia has. One of the major issues that AMD faces essentially is that China contributes about 20%, 25% of the company's revenue. This is massive, right? Having it kind of purchase of AMD chips by China could be obviously, having that cease could be pretty significant for AMD. I think furthermore, Huawei is having breakthrough in chip production too. So let's pull this over here, this is from Bloomberg. Huawei Teardown shows chip breakthrough and blow to U.S. sanctions. At the company's Mate 6 Pro is powered by the SMICs, 7nm chips, this is pretty big and obviously Huawei's not allowed to sell in the U.S. currently. Huawei Technologies, at least their phones. And China's tech chip maker have built an advanced 7nm processor to power its latest smartphone. Signed Beijing is making early progress and a nationwide push to circumvent U.S. efforts to contain its ascent. Huawei's Mate 6 Pro is powered by a new Kirin 9000s chip that was fabricated in China by Semiconductor Manufacturing International Corp. According obviously to the teardown of the handset that tech insights conducted for Bloomberg News. So they got their phone here, or their device, and they're able to see what they were working with. And Chinese government is making some headway in attempts to build a domestic chip ecosystem according to the research firm. So I mean, in a lot of ways, obviously we're not selling chips currently to China. So what impact does this have going forward? Well again, we're not selling it. The impact will probably be felt in the near future when there really is like a massive halt on it. Again, with AMD being 20%, 25% of their market coming from China. Doing business with China on these kind of things is also a little bit difficult as well because they do have a, you know, kind of like a culture in their government and business of kind of taking some trade secrets as well and reproducing it. And we've seen that with a lot of different things. We'll take a look here. Intel is also making some pretty big headway. They claim to be on track to regain foundry leadership from TSMC in 2025. And that secures a large customer for what they're having is the 18A node tech. One of their big issues is again, like just keeping competitive with things like TSMC. And in this kind of report, they have contracted TSMC as well to fabricate parts of its next generation Meteor Lake chip. While the CPU tile like a chip lit is fabricated using the Intel 4 node. Again, that's a seven nanometer. The GPU tile will use TSMC's five nanometer mode. While the SOC tile and IOE tile will both use, again, TSMC's six nanometer mode, but they're moving away from it and hoping that they can produce some things themselves as well. And really this revolution that's going on in computing is massive. And it doesn't even have to do with like quantum computing or anything like that. I mean, these traditional kind of, you know, binary based computing systems. You know, you're seeing, hearing all these things with CPUs, the GPUs, now there's DPUs. And the idea is they're specializing these chips, right? You know, the CPU is very good at doing, you know, one task than the next task than the next task. It's kind of these kind of sequential, you know, kind of problem solving situations where the GPU runs everything, you know, obviously for the graphics processor, but really what GPU does is it processes data that's kind of parallel to each other. The DPU will just be for data, utilization, that's gonna roll out in a big way soon. And they're just adding more. And so Intel is really like at the forefront of these kind of things. And really I think we could see, nah, I wouldn't say revolution because it's not like that, but the computing will be so much faster going forward in the future. Furthermore, development regarding chips is ARM. So they're about to have an IPR, they're looking at least to get up to 52 billion valuation. And that's $47, about $51 share. This is obviously through SoftBank, they acquired it for 32 billion in 2016. Chip Design, firm ARM on Tuesday, said it's looking to fetch as much as 4.87 billion in its upcoming blockbuster initial public offering on the NASDAQ Stock Exchange. So a lot of people are kind of a little bit suspect of this price point. SoftBank obviously has had some issues in the past with some things they invested in, but this one is pretty interesting. As a British company, ARM qualifies as a foreign private issuer in the US and its shares will count as American depository shares or ADSs. The company will list about 95.5 million ADSs at a price range between $47 and $51. At the upper end of that range, CNBC estimates that ARM will likely raise up to 4.87 billion. At the lower end, the IPO would fetch about 4.49 billion. When the company floats in New York, it'll look at a tap to deep pool of institutional funds. So this is massive. We're gonna see like an arms race going forward and see if people can be competitive kind of in chip manufacturing. This is the massive tech IPO of the year. I think that's can't be overstated. The onset of the macroeconomic and geopolitical challenges from Russia, obviously the central bank interest hikes led to a massive slump in tech valuation, right? Tech valuation is all done with discounted cash flow valuation and with high interest rates that kind of screws everything. However, we've seen substantial increases at least and we can look at Meta and to some extension, you could call Tesla a little bit of a tech company although they're more data-driven. So this will be an interesting thing to see drop and we'll see how the market responds to it. Again, I think there is a little bit right now of a current high for things in the tech sector that are more advanced. And what I mean by that is like the whole conversation currently is about semiconductors and it's about AIs, right? If we can get these semiconductors to be decent, we can get chips to be better. AI obviously gets far better as well. Currently as it stands now, the word AI is being used as almost like a marketing thing, right? So much stuff with it. Like for instance, there's someone I watch online and they're saying they're using AI now, a program they have and this AI is what they've been using for as long as I've been watching them and that's from when I was really young. And I see that a lot in other companies as well. We now use AI technology and really what it is is just a computer program. It computes some kind of data at the end of it and the more data it gets, the better it gets at, obviously be more accurate, right? Anything is like that when you have more accurate data sets. And so calling that and it changes a little bit the way it computes data as new information comes in. So calling that AI, my opinion, is kind of a misnomer in some situation, but once we really get good at this kind of computation, we become more energy efficient, then we'll really see an AI tech revolution and that'll be pretty impressive. Folks, stay tuned. We have Tim Ord on next. We'll be right back. If you're looking for potential trading setups in the stock market, then Rocket Equities and Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities and Options Report today with a 30-day money-back guarantee so you have nothing to risk. For all the details and to start your subscription today, visit the front page of TFNN.com. TFNN, Educating Investors. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. 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I want to show you this chart here. We can get it on. This is the credit card accounts average interest. You know what we are right now? What's going on currently? Obviously, this is increasing and we're at a time too when a lot of US household debt is increasing. And the use of credit cards is increasing as well. Pandemic era savings are kind of disappearing. The chief executives do not tend to sound warnings. This is from this article here from Financial Times when their business is growing. JP Morgan, CEO, Jamie Dimon, was right to draw attention to credit cards this summer. He said, we've been over-earning and credit for a substantial amount of time now, told investors, and we are quite conscious about it. Well, it looks like we might have Tim on the line. Tim, can you hear us? Yep, I'm here. How are you doing? Good, how are you doing? Good, doing all right. How was your Labor Day weekend? Oh, it was good. It was too many hot dogs, but it was pretty good. No kidding, right? That's always a good thing, though. So what are we looking at today? I get you, Chartie, did you finally get him? Yes, I have Chart one up now and I'm getting the other ones as we speak, so. All right, but Chart one, actually, I kind of developed this chart several years ago, but anyhow, what it is, I don't know, tell you the truth, I don't know why this works so well, but it works and that's all you need to know. But it's a bullish percent index for the gold miners index slash GDX ratio. And the bullish percent index for the gold miners index, what the bullish percent does is measures, the percent of stocks that are on point and figure bicycle in the gold market, gold miners index, whatever index stocks are in the gold miners index, it measures a percent of stocks on bicycles using a point and figure method. And GDX is GDX, so if you do that ratio, and this is a weekly chart, and the top window is the RSI for this, for this particular ratio. So every time the weekly RSI for the bullish percent index slash GDX gets below, I think 25, it's at a bottom and this chart goes back to 2008. And all the blue lines are the bicycles and there's one red line in there and that's a failure. For some reason, it didn't work in 2013, the market went down and they actually kept going down. But all the other times they picked out lows and some were significant lows, actually most of them were significant lows, some were minor lows, but one, two, three, four, five, six, seven, eight, nine, 10, 10. So 90% chance we're at a low here according to this, because it's 10 times this happened, one failure, so it's 90% and we're at some sort of a low. Most signals of this type last a year, sometimes the last couple, three years, but most of them are a year or longer. So we're sitting on a signal right now as we're talking because that's going to blow minus 25, we're at 15 and a half area right now. So now I want to actually, so this suggests we're at a yearly low right now. Last time this thing gave a signal was last year in 2022, going into the August low. So the market went up, now we got another buy signal, again, pretty much in August, September here. Now if you flip to chart two. Yep. Got it over here right now. This is the TDX ADP. We're going to go back and forth here a little bit and this reason why I wanted to show you the long-term chart, now we're going to look at a little bit of a short-term chart. Now the bottom window is a 50-day average of the up-down volume percent for TDX. Every time it got below minus 20, which it did the first part of July, every time it got below, I can take this chart back further, but ever going back to 2008 on this chart, I wanted to kind of keep it in a shorter timeframe because the signals all remain basically the same. As you can see it a lot better, but normally when you get down below minus 20, the decline is done and usually the market flips sideways. And now sometimes you get minor new lows, but in general the downtrend is done. And previous times we got the signal, we got one in 2021 that flipped sideways for six months before the rally got going. And in 2022 the signals come about once a year. Now the market went kind of sideways for about four months before the rally began. And we're currently going sideways for two months right now. And normally when you get above 50, that's when the uptrend starts. And last week we were above 50 right now, we're just as major below 50, we're at minus one point, or not 50, rather zero, sorry. When the signal gets above zero, or this indicator gets above zero, is when the rally starts. And I have to say above zero for the rally to continue. And when above zero here last week, now we're kind of fell below it as we're 1.93, or 1.73 right now, which anyhow is hovering around three. But to go back to chart one, again, we're at an immediate term low. So the downside is over, there's not gonna be another catastrophic decline here. The market's probably back and forth a little bit, but the decline's over. This is for an immediate term trade, this is a good place to buy. We rallied up a little bit, we kind of came down a little bit. But once you get above 50 and stay above 50, that's usually when the meat of the rally starts. And all this blue area on this chart number two is when the 50 day average up, down, boring advanced client indicator stays above zero. So it could be a little choppy in here, but the downtrend's over. We may move sideways a little bit longer, don't know, because previous signals of this type can go from a month to six months. We're at two months now, I can go sideways for another month, maybe. But either way, the downside is over. And we're building a base for a rally. And previous rallies, again, lasted a year. So in general, we expect the market to actually, to break above the previous size of 36. And it's hard to say where it's gonna go. But this is a bullish area of Tom and I, we're talking last week and saying, you know, this is a good place to buy. On the airman term trade, it is. So I'm holding to that philosophy, I guess you might say, holding to that definition. So you have a question? No, no, I think it's just very fascinating. I mean, especially with everything going on today with the dollar, it's good to get some good conversation surrounding the GDX in general, right? So. Yeah. Yeah, yeah. And so that's why I kind of flip back and forth. So, you know, a lot of people said, well, this indicator fell back below zero, I did. But airman term wise, on page one, this indicator, it works 90% of the time. So you really don't want to bet against it. It's saying that you're at an airman term low. And the previous signals of this type last a year. This type of signal that we're currently having right now can last several months. I'm thinking we'll probably, it rally into, you know, maybe November, December, then we may take a rest first part next year. Don't know how it's all going to gel out. But in general, we're going to be a lot higher than we are now a year from now. Absolutely. And Tim, we have a short segment right after this break. If you want to stay with us, I'd love to look through the other two charts quickly via time. All right, we'll do. Awesome. Folks, stay tuned. We'll be right back with Tim Horton. Are you ready to take your trading to the next level? Introducing Tom O'Brien's award winning newsletter, Market Insights, your key to successful active trading. Tom O'Brien, renowned for his expertise in the financial markets, has designed Market Insights to be your daily guide to profitable trades. 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Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com then hit watch Tiger TV. That's TFNN.com then hit watch Tiger TV. Welcome back folks, it's been about two and a half minutes until the end of the program, we're still with Tim Ord taking a look at some of his fantastic charts. Tim, you're with us? Yep, I'm here. Awesome, we're looking at the SPX and then we have the spy chart as well. Right, chart number three, which is the middle window is the SPX VIX ratio. And when the S&P is making a higher high and this ratio makes a lower high as a various divergence. And now all those red aerials going back to several years, 2018, wherever it is, they picked out here me at term highs. And the last time this ratio gave a sell thing was back in actually January of 2022 and correctly picked out that high because S&P's made higher highs, this ratio made lower highs. Now it's a various divergence. What I want to point out right now is the S&P has not got back to the original highs of July there, we're quite a ways from that high. But if you go down to the ratio, if you look at the small window there, we actually made higher highs on that ratio. That's a bullish divergence. So there could be some minor pullbacks here, but it looks like to me, we're gonna get back, probably this month, back up to at least the old highs up around 4,500. What happens here, I'm not for sure, but this ratio's given a bullish sign here short term. So even though this will actually, this week, of all the weeks and year, this is the second weakest week of the year. So there's a good chance we see a probably some sort of a pullback this week just one of the reasons why I'm short, but I'm keeping a short leash on that short. Because I don't think anything major to the downside has indicated here, especially with this SPX VIX ratio making a higher high, where the SPX is making a lower high. So after this pullback, probably during expiration week, we're gonna have a rally, and in my opinion, the rally will just next expiration week, or next week is expiration week, we'll test the old highs of July. So point that out, I know we're out of time. Yeah, sorry, we had some issues with the chart there. I think you'll be on sometime this week again, I might be filming for Tom. So we can go over the last chart as well, so. Tim, thank you so much for being on with us. Everyone, thank you so much for joining me. We will be back tomorrow. Have a great rest of your evening.