 The morning markets kickoff with your host Tommy O'Brien Good morning everybody. I'm Tommy O'Brien comedy alive from TFN and 906 a.m. Wednesday We got about 24 minutes to go until the start of trading and we got markets somewhat flat this morning all the markets barely in the Green we got the S&P up by two points at 44 84 Tech stocks Nasdaq 100 up by 10 points right now 15,365 the Dow Positive by single digits positive by five thirty five thousand three nineteen of the Russell positive by one point at twenty two twenty eight Excuse me. We jump around the commodities. We got crude trading. They're almost sixty eight dollars today 6789 we talked to our man Teddy cake stat from Forex dash trading dash unlocked at 40 past the hour He's been a crude bull. We'll talk to him about the Forex markets Of course always interesting to get his take on crude quite the move we have folks You're talking about six dollars plus just from where we were a Sunday night yet a 61 handle on crude on Sunday night We just got a 68 handle the moves in this market. They don't seem as Ridiculous just because of the volatility we've seen recently But you were trading at a price on crude May 21st So we're backing it up about three months ago at right near the lows. We just made we have a low there of 6156 we trade down to a low of 6174 a couple days ago Sunday night. That's the print. We're back to 6787 the price of crude back to short-term charts on a Fifteen minute you got gold given back some of the gains we had this week recently gold's down about nine dollars this morning at 1799 we got silver off two pennies at 2386 and notes and bonds pretty calm action ahead of Jackson Hole virtual virtual events starting tomorrow and Friday We get chairman Powell, please 10 a.m. Eastern time Friday. His remarks will air Interesting to see how that plays out taking a look at the tenure on a daily for some context We kind of just been chopping around a little bit. That's your daily You back it up to what is that all the way back to about nine days ago? No real huge action From the volatility we've been used to might just be waiting for that remark on Friday from the chairman Jumping around to what else will take a look at the VIX before we start taking a look at some of the equities and we get equities Moving today in a big way. We got some earnings driving some equities. We get the VIX sitting at 1725 pretty low volatility In context, but still a little bit higher than we've been used to especially at a time that you get the market's Continuuming to make all-time highs now look at the action on yesterday though. You talk about a tight trading range folks You're talking about 10 points maybe 15 if you take the literal low to high for the day 15 points in the S&P and we're right in that range today again Maybe the market's just gonna wait at these highs earnings driving a little bit of the action today We'll start it off with dick sporting goods quite a number for dick. You back things up This stock has just been remarkable folks from $50 to start out 2020 you commit to COVID It dives down to the $13 and 46 cents and today you're gonna open at $130 Almost a ten-bagger over that time in a big way You okay? Oh Sorry about that folks from 13 to 130 we're trading right there and an acceleration S&P's positive by two and jumping back to that dick's voting good story Dicks shares rise second quarter sales surge 21% the retailer raises forecast now here the numbers to get into for dicks Sales rose 21% versus a year ago 45% versus two years ago. That's the comp you love to see now Dicks was having good a good year. They were I talked about it myself anecdotal experience Doing some shopping during the beginning of the pandemic. So we're going back 16 17 18 months ago something like that When dicks was one of the quickest retailers that turned into curbside takeaway for retail purchases I mean we had never heard of such a thing right? I mean we're all used to going maybe to Outback Steakhouse curbside takeaway. They kind of revolutionized the curbside takeaway market in Dining and takeout Dicks was doing a great job. I picked up sneakers. I couldn't believe it. I sat in my car I told them I was there with my phone. They walked out the sneakers put him in my car I didn't have to go into the store. This was a different time when we were pretty much locked down completely So they were still rising during that period of time is my point and they're rising 21% versus a year 45% versus two years ago That's almost 50% growth over a two-year period of time and think about dick sporting goods in your head a couple years ago Folks they were still a mammoth retailer in the sports segment big box retailer soar during the COVID pandemic now Let's get into the numbers because they're huge 508 a share versus 280 revenue they beat by about four hundred million. Yeah 402 million three point two seven billion versus two point eight five Net income rose nearly 80% to almost half a billion dollars excluding items. That's 508 a share same-store sales 19.2% growth in the second quarter now They get a special dividend here jumping down to the line in terms of what they're talking about Yeah, here it is It's gonna step up its capital spending special dividend of 550 per share and it's gonna double its planned share repurchase for the year to 400 million That stock talk about some positive action. I could even see them accelerated either higher remarkable that you're talking about I mean, what is this? We're up right now. We're up 15 dollars on a hundred and fifteen dollars stock You're talking about 12 13% pop on the open and you you might even go higher I mean you can't overstate the numbers that they're putting up and the earnings that they're putting up in a big way Now on the flip side of that Nordstrom's not so much the case you get an initial spike to 40 bucks You're back to 30 282 now all things in context here, right? We're just back to where we were in Nordstrom's less than a week ago folks last Thursday You were trading at this same price point. All right, obviously got a little bit of a head of itself trading up to 38 dollars Coming into their earnings event. You take a look at the daily now Nordstrom They're gonna open right near the lower boundary line of this chart. We're talking about a price point We were at the lows you came into it about a week ago when we just talked about you were down near these levels Also in late July You were down at these levels in June near these levels. What's the low here in May? You're talking about a low of 32 55 We're trading at 32 80 right now So you can see this will be a critical area for Nordstrom and if you get below this area I mean yeah, you have an area of 30 dollars But as you see on this chart you get below 30 bucks on Nordstrom and you might be diving down to $12 Don't imagine that's gonna be happening That might be an area that sets up for a nice trade you get that at least folks as we've talked about before You have your back against the wall if you're wrong on this it trades below this level You could set your stop somewhere there because if it trades below that actual low 2871 now That's a solid four dollars below still where we're trading at right now Not sure it gets there, but it's a one-way trip of that run It had when we first got vaccine efficacy going back to November now getting into their numbers from Nordstrom's Oh, come on. I just had it up here. Where are we? I Quarterly report showed revenue for the quarter still below Pre-pandemic levels. Did you hear that? That was the point I wanted to get across revenue is below pre-pandemic levels. You have dick sporting goods With 45% growth versus two years ago and you get Nordstroms Below now two entirely different retailers right dick sporting goods. Maybe you're spending more on Recreational stuff at the house recreational stuff going out. Maybe Nordstrom's You're not shopping for much at stores They beat the 27 cents estimate for the late ex quarter with 49 cents a share revenue above forecast They raised the full-year outlook But yeah, they're still below the level. I mean look at those three folks They beat on earnings 49 versus 27 they beat on revenue Which is above forecast and they raised the full-year outlook and they trade down 10% even more than that now you're down $5 on this equity. You're down pretty substantially It's a tough one in this market, but not a surprising to see I mean, you can't even get to pre-pandemic levels from Nordstrom. Meanwhile, you got a retail like dick sporting goods That's 50% above where they were two years ago. Stay tuned folks. We'll become right back Odin ratios give shape to everything in our world represented in the Fibonacci sequence these special numbers to find the patterns that make up our universe not even markets can escape the Omnipotence of these ratios Larry Pezzavento is a 45-year market veteran Who has published nearly a dozen books on the powerful patterns? 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We have the S&P is positive by two all the major indices positive in the single digits NASDAQ 100 positive by six Thou positive by eight right now, and you get the Russell positive by two Let's jump over to our man Kevin Hicks every trading day folks fast market at 11 a.m. Eastern time from the TD Ameritrade Network Kevin Hicks Alex Coffey and the team at the TD Ameritrade Network Breaking down the day's market action walking you through setting up hypothetical trades folks to find risk in the option market Kevin Hicks we got some winners and some losers this morning in the retail sector. Good morning Yeah, pretty amazing Tommy. I don't think it's possible for Dick's sporting goods to give a better report than they just gave and For them to beat on earnings beat on revenue up guidance give a special dividend. I mean what could they have done better? Than they did and it's clear that back to school shopping was big and back to school shopping Was geared towards more casual clothes Let's face it because Nordstrom on the other half of that didn't do as well So you're getting two different apparel retailers moving in two different directions Tommy, but That's why there's a trade. It's fun either way, right? If you play for Not necessarily directional play, but of just a big move Both can be profitable in either direction Tommy. So it's a yeah, it's a fun day for sure Pretty staggering moves man I mean Dix and it has been a one-way rocket ship for this stock man I mean remarkable I have to back it up to a three-year weekly to see the COVID lows at 13 bucks We're almost gonna open at a 10-bagger off those lows let alone coming into it at 50 bucks I was reading about Dix I think there are 45% on a two-year basis Kevin and I said, you know to kick off the show I said folks think about in your head Dix Sporting Goods two years ago They were a mammoth company even then man and to grow it 45% on that basis Remarkable that company I've talked about my own anecdotal experience So you see Kevin sometimes we're management and it's just one experience But it really was man how they came together so quickly they had curbside delivery for sneakers early on in the pandemic Just an opportunity for growth and Dix really season it man And I was surprised kind of a little bit by Nordstroms Kevin I mean not not the worst in numbers, you know to really pummel that stock in terms of they they beat on earnings They beat on revenue, right? But there's a lot more going on in terms of outlook on that equity and really though Nordstroms as well You talk about volatility We're just trading Kevin for context back to where we were last Thursday not even five trading days ago Which is just speaks to kind of the moves We're seeing especially in some of these you know volatile stocks like retail Especially so earning season marches on Kevin. We're coming into of course Jackson Hole the virtual symposium going on tomorrow This market I was talking about in the beginning of the show What's your take care whether we're possibly just waiting maybe because yesterday's action in the S&P Kevin I think we had a trading range from the literal low to high of maybe 15 points in the S&P's from low to high yesterday Pretty low volatile day as we wait for a pretty important event possibly coming up with the chairman of the Fed and that symposium for For the virtual event coming up Well, honey, I think that we are waiting for Friday I think Jerome Powell's statements on Friday and we don't say never and we don't say always But I think there's a high probability that he's going to give a dovish Take on the economy and tapering. So I think the markets favored that But I think yeah, you know up until today remember we were waiting for some pretty big economic data today tomorrow and Friday So I think the other market was Stalling and waiting and keeping their powder dry for today's numbers now We're very unchanged to start the day as well today, but we're still looking at a number that was you know The actual economic data that's coming out right now not the forward-looking data the data that's measuring right now is showing a pretty strong economy except for New and used vehicles right transportation is what's weighing down some of these retail sales and durable goods numbers besides that Pretty good number X transportation up point seven that that was a nice beat So there is strength in this economy in the real-time numbers, but the sentiment numbers going forward are starting to Drift a little bit. You saw that show up in the core capital goods part of the durable goods report So, you know, you know this number was solid. There's still more to come. We got GDP tomorrow That's the second look at GDP. So that's not as much as volatile But then you've got incoming outlies on Friday and Jerome speaking Jerome Paul speaking at nine. That's the big event of the week, Tommy Hey, I'm gonna jump topics real quick for some of the Chinese stocks So interesting here for the SEC chief right Kevin. He was out there. I think it was yesterday Maybe talking about the the potential for delisting coming up I mean, I guess what the deal is is that within about three years of becoming a public company you got to open your books out for audit and What's your take I this one's pretty interesting here that they're basically these stocks almost seem like they're teed up in my opinion My opinion to get delisted if this much is on where we're going Which is pretty interesting when you think about Trading stocks that that might be teed up to get this listed within delisted within a potential couple years And it's all out there for you know, personal bias folks Whether you think it will happen whether you think it won't whether they kind of you know Get that in line to make sure they can be listed But this this article is pretty interesting that the to factor in a variable like that Kevin within trading potentially these equities And I'm not trading them But what do you what do we'll cut your eye when you see something like that for the SEC chief? I think our relationship with China is always extremely complicated between politics and actual Economies so I think a lot of time there's threats but no action. So but this SEC chairman does it the question is does he really want to go there and you know, China stocks They've given them a reason to be more skeptical of these games with what they've done a lot of investors have lost a lot of money When the Chinese government cracked down in these companies, so I think this is in the early stages I think there's gonna be a lot of play a lot of these stocks have just rallied because frankly It came out with some good economic news and some Relaxing of travel standards. That's why you're seeing the casinos rally Those are always a great China proxy and a way to play China without having to go and play China stocks So, you know, I'm gonna watch this play out track. I am trading Win resorts full disclosure. That's the way I trade a China proxy. I don't touch any of these other ones There's too much control from the Chinese government to play those stocks like that It's a great point man because I asked you because as a trader when you got stocks that get cut in half, right? You know like Ali Baba, for instance, of course, you're looking for volatility if you're a trader I mean you just got a $20 pop in Ali Baba and to some degree. I Think that China wants to clamp things down But but they don't want to clamp down the growth of the country So there's gonna be possibly some venues there, but it's a great point man because yeah Look at these stocks whether you and you talked about them yesterday as well and talk about a move yesterday to continue that move Las Vegas Sands and win both up pretty dramatically. Well, Kevin, we got a lot going on What are you guys gonna be talking about on the program coming up at 11 o'clock today? Big day probably the highest profile name of the week sales force will be in the first segment of the show And then yeah, you heard it for here first Kevin Hinks We'll talk about makeup today in the second section with what like folio We'll look at all top and then we'll talk Splunk in the third segment of the show all earnings place today Pretty cool man Alta from 124 to 373 sales force has been a rocket ship, too We do have some sales force in my newsletter folks to put that one out. You're a cloud company You're in the Dow there. They've been on quite a run, but they got a lot to prove man They just traded from a price point. It's been quite a run. What were we at 208 in May and we're coming in at 260 for their numbers Coming out. Well, Kevin, we appreciate the conversation man. We look forward to the program as always. We'll be watching at 11 o'clock today Thanks for having me on Tommy. Have a great day. Thanks Kevin. Take care. Stay tuned folks We'll be coming right back for the market open Are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with? 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We got markets open We got the s&p right now up three points tech stocks trading higher as well You get the dial pulling back on the open right now. You have the nasdaq 100 making a high on the open. There's your high print 15,389 pre-market s&p's climbing up to 40. Wait, where were we 44 92 was the high yesterday? Yes, yesterday early not quite up to that level right now s&p's positive by one point from the closed Russell sneaking into the negative on there on the open on the Russell by three points Uh jumping around to what else we got going on so apple. Let's start it off with apple apple right now We're trading flat at 149 63. I'm going to put this on a long term chart here to see the run that we've had Uh, yeah six pennies back in when is that 19 late 80s? I mean even back it up. Look, we're trading at You're talking about trading that In the context of where we are today in the late 99 40 cents 50 cents I mean apple was a big company back then folks they were not compared to where they are now You had to run back then now zooming in point being tim cook He's been at apple as CEO 10 years remarkable It's been that long and look at this chart since he's been there folks CNBC had an article pretty staggering statistics on apple You back it up to when he was there. So what are we talking about august of 2011 basically you had apple trading essentially at about 15 dollars when he comes in to that equity Now man, we were just trading at 40 bucks as recently as 2019, right? So this article is going to speak to the fact that it's up a thousand percent It's basically a 10 bagger over that time and we just showed it's from 50 into 150 Well, things had waned a bit you were at 40 bucks at the beginning of 2019 before things have really accelerated for this equity if they As they've of course taken advantage of Everything going their way basically over the last couple years whether it's uh the recurring revenue They have going on now or just the shift to mobile and living online. So they speak to Apple CEO 10 years here's how the company's thrived. It has thrived indeed. Just some cool graphics here where they've been revenue wise You come into it at a price point of whoops, where do we just go? Scroll up there Uh revenue was pushing about 27 billion as he came in now. We're pushing 86 billion on a quarterly basis The stock price there you are it's about a 10 bagger and as I said, I mean remarkable as of 2019 Apple had barely beat the s&p But man spent quite a run over the last two and a half years as tech stocks have really plowed higher The fang stocks have carried this market dramatically higher and you see it in this chart the impact a stock like apple can have We're talking about a thousand percent versus the s&p, which still is a pretty great return over a 10 year period Up about 200. What are we talking about s&p? 16 percent annually over the period right staggering statistics still the s&p over that 10 years apple though 32 percent annual return now a lot of that annual return compounded Because of the run it had over the last two two and a half years market value you start that at about 400 billion We're pushing 2.5 Trillion dollars remarkable Uh and new products they talk about no staggering staggering new products. They had the earbuds in there They have the apple watch in there over that time, but man, they really transform things into uh A powerhouse in terms of revenue right recurring revenue the cloud etc But pretty cool 10 years in terms of what he's done with that equity when you think about where it was already and the run that It's had 10 fold. All right jumping back to what else we have going on McDonald's they're running out of milkshakes in the uk supply constraints continuing to hit a lot of equities out there Said on tuesday ran out of milkshakes across the country The u.s. fast food giant also been deprived of some bottled beverages Throughout its 12 hundred and 50 british outlets this week I mean you're just going to see these continue to pop up not sure this is really going to hit mcdonald's that much It's just in the uk um Put mcdonald's back on a 15 minute We're basically flat with the market right now interesting We got tech stocks again trading higher as we have all the other markets pulling back so far this morning All right, let's jump down the line with other stocks reporting Um, so johnson and johnson out there talking about booster shot that that would boost the numbers in terms of sharply increasing the levels of antibodies now It's interesting these vaccine stocks in terms of how they're trading There's johnson and johnson actually flat right now after trading higher a little bit You have visor right now giving back some of the gains It's had recently down 1% and maderna talk about volatility across the board We were just up to 418 put this thing on a three-year weekly for the context of the run It has had all-time highs 497 only a couple of weeks ago almost $100 off that high right now Anytime you run from 150 to 500 folks in the span of a few months You might give some of it back pretty quickly as we all should be aware All right jumping down the line for retailers. We got express Um, unexpected profit for the latest quarter two cents a share 30 cents a share loss was the expectation Revenue above they were higher in the pre-market expr as I said interesting. Look at that They give it back these retailers man. It is a tough deal. Let's see how Nordstrom's trading because as I mentioned They were pretty pretty strong numbers from Nordstrom to be down 15 But the market not having any of any type of a miss when you got competitors like dicks Yeah, I thought this thing might pop even at the hot at the at the open as I said Early in the show and kevin mentioned as well. You can't do any better man a five dollar special dividend They're just saying we got so much money. We're not even going to put it into a dividend We're just going to give you a special dividend and we're going to have a dividend and we're going to have a buyback Dicks, I think that might be an all-time high Yeah, of course it is 134 40. Look at that bar. Look at this run. It's had backing things up Yeah, there you go Quite the chart for dick sporting goods accelerating higher to all-time highs in a big way up 17 percent today Nordstrom trading lower by double digits so far today Jumping around to what else we got going on shoe carnival out with their numbers not familiar with shoe carnival They make almost double the market what they were looking for a dollar 54 more than double the 75 cent estimate Revenue exceeding forecast comp sales up 11.4 percent as we jump over s cvl They're up 2 on those numbers urban outfit or something to get to so a dollar 28 a share beat the 77 cents estimate as kevin was saying Everybody seems to be beaten in the current quarter. The only question is whether you're going to beat in the forward quarter is coming I mean even nordstrom Beat their revenue estimate with 49 cents versus 27 They uh revenue was above forecast as well and you're trading down double digits urban outfitters Revenue above forecast benefited from a sizable increase in digital sales. That's what you want to see guess what though However mentioned that it's dealing with supply chain issues and they are trading low and the market doesn't want to hear that folks Uh, because that may hurt profits It may hurt the ability to be in the future and you get urban outfitters down almost 10 percent pretty similar reaction To where we are in Nordstrom Nordstrom down about 15 percent as in getting punished for pretty strong numbers across the board Tole brothers It's just beat after beat a dollar 87 32 cents above estimates home builders revenue essentially in line Low overall inventories in the housing market low mortgage rates help boost the company's results They are higher in the pre market. Let's see how they're trading on the open Tole brothers this morning extending those gains up 3.4 percent as housing continues to accelerate in a big way Into it out with their numbers the tax software beat estimates by 38 cents They make a buck 97 revenue topped estimates. I mean, it's just constant revenue top beats on the earnings Upbeat outlook market loves to see that raised its dividend and boosted the buyback There's like the the trifecta of what you want to hear as an investor And we're up 2.8 percent giving back some of the gains it had pre market And uh, yeah the game the games the meme stops stocks were rocking yesterday folks Let's see how they're trading this morning game stopped down 1.7 percent today after trading up 55 dollars yesterday yet amc Extending the gains up 4.5 percent right now for that equity as well And let's jump around to some of the fang stocks as we got the nasdaq 100 trading hire You got google up half a percent you got microsoft up a quarter percent apple We talked about up to tenth percent facebook shares up half a percent Quite a market folks in a big way and we jump over to the vix volatility index right now 1715 We might get a 16 handle if this market continues higher stay tuned folks. We'll be coming back We'll be talking some forex with our man teddy keg stat. 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That's tfnn.com and hit watch tiger tv Welcome back folks. We get the dial negative 68 points right now We get the s&p's positive by one nasdaq positive by 31 points the russell positive by 22 points Let's jump over to our man. Teddy keg stat folks every trading day You can reach teddy at forex dash trading dash unlock.com We talk to every teddy every wednesday at 40 past the hour. We talked some forex teddy keg stat. Good morning Tommy So I was checking in on the forex markets getting ready for you this morning. We have a little bit of chop Across where we've been but interesting action with the dollar, of course We got some action commodities. We have some action including a big way off the lows We had sunday night and we're coming into a virtual jackson hole symposium going on with chairman powell Out there friday morning at 10 o'clock What have you been looking at in this forex market teddy with everything we got going on right now? Well, since sunday night the dollar was under pressure from across the board with most crosses And uh, we've seen a little bounce today, you know, and I like it. I think uh, the way we started off the week You know the dollar had been strong and it just kind of needed I think it was a profit-taking move if you really look at it compared to most currencies Interesting today where we see the volatility and most of the range right now Where you have as far as like depth from highs to lows You're seeing it in the japanese yen and then in the swiss frank And I think that's a good indicator of where dollar strength really is right now showing that, you know Usually when you have a big move or whatever you're going to have the euro and the pound have more action than you will in the swiss The same is going on in asia You have the yen where you have a lot of action today where it's been going sideways for days, you know So and as far as the australian dollar and new zealand dollar their range is pretty tight So when you see that those are the flight to quality currencies That tells me that dollar dollar strength is coming back into the market, you know, even with the us dollar canada It's kind of interesting how they're having a pretty decent trade to the upside pushing resistance today So that's what i'm looking at right now is seeing that dollar strength I think is going to creep into the market over the next uh couple sessions especially as we go into this symposium on friday and stuff like that And I think that you're going to probably see the euro and the pound continue to kind of fall back against the dollar But i'm not expecting any big moves right now I just think you're going to see a nice trend But I watch out for the us dollar swiss and the us dollar yen especially because the us dollar yen looks like It's going to break out to the upside Yeah, it's interesting man. I remember when we were first starting to chat with you, which is amazing We're going back years ago. I'm talking about that that uh the swiss frank Almost at parity and we've been under there for some time now man That I because it was remarkable right at that one point I remember so often you were talking to us about um, you know parity over there and how i've been stuck at it And really quite a quite a difference that we're now under, you know, we're at 91 You were as low as 87 and last year right, but not quite back at parity yet for those two pretty strong Obviously currencies when you look at them independently swiss frank and the dollar both of them What's your take kind of you know on the the new maybe normal for for for that pairing As far as for the swiss. Yes, I think that the swiss. I mean like as parity is something we could get back to It's very possible I think that what you really need to watch is the interest rate market If we do start to see market rates kick kick up, which we know the fed's not going to do a thing You know, but if you watch the 10 year and the 30 year They're trending lower slightly, you know, and if they actually have another slip Especially with the lockdowns that are going on with australian, you know, what have you in new zealand as these spread into the fall You know, I mean we're hitting it very interesting period right now, especially in front of october I mean me being an s and p guy. I love october. You know, we're always looking for a big slide But interestingly enough, you know in the last five months you've had more money poured into the equities markets Than you have in the last 12 years that's including the v-shaped dip last year where people were getting Funded to put money into the market, you know So that tells me that we're setting up for a very big interest rate move whether the fed wants to do anything or not You have the new zealand and some other countries now that are looking at raising rates How long can we stay at zero like the ecb, you know and and hold that line I don't think that the market's gonna the market no matter what it's going to move And that's going to cause the currencies to really start to explode and that could put pressure on the swiss That's where you could see the dollar back at parity versus the swiss frank Because you know that the ecb is not doing anything the swiss aren't going to do anything And even though our fed probably will not do anything We could see that if we start having lockdown issues and especially Problems with the economies globally the treasury bonds are going to tank the tenure is going to tank, you know And that's going to cause dollar bulls to come out of this, you know from everywhere across the board. I think Yeah The Because it was yeah, I just taking a look even the longer term. Let's say on a monthly. I mean you had uh, oops, excuse me Yeah chopping around at that one point for almost like five years, man Now between about 95 and one And we might be in a little bit of a lower area for that, but I appreciate the take as usual To the yen teddy if we could so we're sitting just under 110 Taking a look at the daily as you said a little bit of a chop kind of recently where we've been Maybe between about 109 the higher portion like 110 60 up to that high at 111 What do you where do you see this going of course this one? Of course, we got a lot of bulls out gold bulls out there just gold traders in general The yen so important the dollar so important as we sit about 110 in the us dollar yen this morning Well, I really think that we're looking at and we're about to have a breakout to the upside with the us dollar yen So I really think that over the next like week and a half to two weeks It's very likely that we're going to see them making higher move highs and take out that 111 area You know, I really do think that we're going to start trending higher. There's just a lot of fun There's a lot of fundamentals out There's a lot of fundamentals that are pointing towards that starting to happen, you know Now I view leery we have we have a holiday market coming up in a week You know, we have the end of this week and then we have next week is our last full trading weeks before we have labor day You know, and then we have the fall coming. So we're heading into this middle part of third quarter I think the markets are going to be relatively quiet over the next couple of days But I think these trends are starting to base and we're going to set the momentum where we're going to trend into september September into october I don't think we're just going to be grinding like the end right now has been basically going sideways for this whole summer Especially the last couple weeks I think we're going to start to see a leg higher that we're going to start to see higher move highs When we see a sell-off It's just going to be a break to buy before it snaps right back up, you know Yeah And it's got a little bit of a move today up 31 31 ticks at about 110 And and how about crude man this one talk about volatility the moves don't almost almost don't look as large as they are Because of the moves we've had recently But on a 15 minute basis man I mean, you know, I just go back five days on this chart teddy and last wednesday We were at almost 67 50 you trade down to 61 74 and just like that We're actually above the 67 50 we're sitting right where we were five days ago You got six dollars a movement down and up. That's a 10 move in crude down and up In five days, but quite a little I was thinking of you when we had 60 174 man But by the time we could get you back on the program by wednesday. We're pushing almost 68 again What's what are you seeing in that crude market? I'm still bullish I don't think that these swings are because of algos. I think it's just an You know, you know, the oil markets have a different rollover process than most futures markets They have besides the option expiration the futures rolls every every month, you know So as far as deliveries, you remember there was a lot of delivery issues A few six months ago, you know, three months ago still and what have you now we don't have those issues, you know Short run, we don't have them, you know, but we are coming into the potential They have a lot of those issues, you know, especially when you know, we have a president said, hey You guys overseas start turning those pipes on and they're like, hey, dude We don't care about what you're saying, you know, so and I think that especially if we have any I mean, we don't know how this whole afghanistan thing is going to go, you know, wait till they start, you know Working with their buddies in the middle east, you know, so oil's going to 100 buddy I hit this in the variables out there, man The there's some volatility in that market for sure. Teddy man We appreciate the education the conversation each wednesday man. You have a great week. We'll talk to you next wednesday You too. Stay cool. You too, man. Thanks, teddy. We'll be right back folks Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts at tfnn You'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either Tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv Live every market day from 8 30 a.m. To 4 p.m. Eastern for free Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world From the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts To help you make the right moves with your money Watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be Educating investors Kids can rise and fall like the tides Subscribe to basal Chapman's newsletter the opening call and you too can ride the wave Basal Chapman is an authority in technical analysis His Chapman wave trading system has been helping traders identify trends and capitalize on momentum in the markets since 1984 tfnn invites you to test basal's proprietary Chapman wave trading methodology With a monthly subscription to the opening call newsletter for only $149 Your subscription to the opening call comes with a 30-day money back guarantee as well as daily market updates on key indexes stocks and commodities Ride the wave sign up for the opening call risk-free today Introducing primal edge today, it's even more important to take a supplement that complements your health Primal edge is specifically formulated to boost your immune system and help with weight loss better sleep Stress reduction and the need to detox our early ancestors found all their nutritional requirements in the wild environment But today our food sources don't contain the vitamins minerals and nutrients that we need to stay healthy and strong That's why we need primal edge daily nutrition It includes a special blend of ionic soil based vitamins minerals Fatty and amino acids in an easy to use liquid form primal edge is powered by highly concentrated humic and fulvic acids Nature's preferred delivery system They've been called miracle molecules because like sunlight air and water without them life cannot exist That's right. Ellen. They ensure we receive all the nutrition we need to be healthy and thrive We take it every morning primal edge just 89 dollars exclusively at tfnn.com 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 get the s&p is flat right now 44 83 We get the nasdaq 100 tech stocks in the green as well up 12 points talking about record high in the nasdaq Dial barely in the red by 55 points in the russell catching a little bit of a pop zooming in on the russell To see the volatility we had this morning. Those are 15 minute bars we're dealing with the russell was at 22 20 Just like that we're turning at 22 33 were positive by five points after coming into negative action in the russell What else we got going on? I want to touch briefly on what I referenced talking to kevin hanks So the sec chief out there warning the clock is ticking on delisting chinese stocks. So interesting I was not aware of this There is a three-year deadline that requires chinese firms to permit inspections of their financial audits If businesses refuse their shares can be delisted from the nyse and nasdaq as soon as 2024 the path is clear Gary genzler said sec Chair the clock is ticking The tough stance would seem to squash the hopes of some wall street The genzler might drag his feet in implementing the mandate from congress and get Beijing more time to strike a deal with regulators They'll allow for the gravy train of chinese stock sales to continue and they shouldn't folks I mean the people that got worked in diddy. I'd be furious. I mean, that's just a straight out hustle folks They push that out to the paper In a big way china did can you imagine being over there in china saying? Yeah, let that company push it out Let them push out the paper. We'll bring in the the investor money And then we'll tell the world that guess what we're clamping down on that company in a big way Those types of disclosures those types of risk you better believe it folks you're trading over there in china Strong words and like I was referencing pretty interesting trading with that type of a variable hanging out there The other side of that is at some point they are going to need growth This is a slapdown of the big tech giants over there in china jack ma Maybe the top dog over there. Um getting smacked down in a big way But china wants to grow their economy folks. They want to grow in a big way They're probably just going to smack them down a little bit But they still need to have some growth over there with their plans to dominate the world and i'm not joking So at some point you'll see it, but I don't know they might Might not need um American investors to that tune. We'll see Appreciate you starting your day off with me folks. We have the s&p's positive by two nasdaq positive by 23 We got a man basil Chapman coming up next and of course we got fast market at 11 larry pezzavento steve road Steve white tom o brian my dad this afternoon Thanks so much folks. Stay tuned basil's coming up right now