 The following is a presentation of TFNN The TFNN Bull Bear Trading Hour every trading day live at 10 a.m. Eastern Call now toll free at 877-927-6648 or internationally at 727-873-7618 The TFNN Bull Bear Trading Hour Now Tom and Tommy O'Brien Good morning everybody, I'm Tommy O'Brien joined this morning by a man Basil Chapman filling in for Tom for the hour Basil. Good morning Good morning to you. How are you? I'm doing fantastic, man? We got a lot going on in the markets this morning Basil should be a quick hour We'll start things off folks S&P right now positive by two points Nasdaq positive by one point You get the Dow positive by 64 points goal catching a bid right at about 1498 right now you got oil catching a bid as well oil trading 5450 last time I took a look at it ten year yield Currently at 1.738 percent. We got Microsoft earnings after the bell tonight We had Boeing earnings this morning Caterpillar Texas instruments last night I'm sure we'll jump over to all of those throughout the trading hour and on top of that Basil We got the man Mark Zuckerberg testifying in front of Congress trying to tell them why he should control the currencies that are going to Control the world and pretty interesting checking over on Facebook a little bit of a pop this morning after pulling back pretty hard yesterday You trade from about 190 yesterday in Facebook down to 181.25 overnight and then as you can see 184.26 quite an opening bell bar this delayed feed So we're looking at 945 but nonetheless you have Zuckerberg out there speaking to the financial services committee about the cryptocurrency Libra and I imagine that he is going to be Deflecting a lot of questions and that's even ahead of time and supposedly and why not I'll pull the headline out here Basil Because it's interesting stuff when you start talking about currencies and in light of everything I am not a fan of Facebook not a fan of the Zuckster the Zuckerberg in terms of what he's done And I don't think it's in anybody's interest if he starts controlling currencies But supposedly he expects to divert many questions about Libra to the newly formed Libra Association Which is designed to manage the rollout of Libra folks If you think that anybody is in charge of that besides Mark Zuckerberg And he's got you in his pocket as well. So Basil back to the markets. What are you looking at this morning? What do we got going on in terms of the earnings the markets up there near almost highs gold of 1500 Yield at 1.73 and this week a huge week for earnings and Microsoft after the bell So just real quickly, let me run this through Facebook. I've got Facebook up here You can see on the left daily in the middle weekly and on the right is monthly Facebook's been a huge digestive phase since the 2018 point 62 high in July of 2018 and Runs all the way down to the 183 area in December Actually has a huge spike up to about two to ten and then it comes back down and that's it to me It's just stuck in a training range. The other thing is for any Individual company to be able to have a monopoly on currencies I don't think we've ever seen that because there's countries that involve are involved with currencies So that's going to be something we'll have to watch very closely So especially that's going to happen. Not today. Well, I hope it doesn't that's what regulators man This government serves it serves a certain purpose folks and I don't trust Zuckerberg as far as I can throw him because he has a repeated history of Privacy issues whatever it is and he keeps getting caught and they keep Pushing the limits and so I wouldn't trust anybody, especially somebody with the history of that to be controlling your currency Okay, so that's Facebook, but let's just run this through quickly in the Dow The patterns I for this is one of the first times I've seen this in a long time I'm not getting the actual price of the Dow on my chart The futures are up only 17 what do you what do you have the actual price of the Dow act right now? He's an up. I believe it was like 60 points last time I looked whoops, that is not it Let me pull it over. I think I have it. We're looking at the Dow right now trading 46 points 26 834 Most of that is Boeing because Boeing is up After being absolutely crushed quite a story. Yeah around number high in the last move up at on September the 25th Plum is down to 324. So this is a 25 point balance from the 24. Yep 25 points from the low Filled in the gap. I think it's just a reflexive action At this point You really can't tell what's going to happen with Boeing because there is just so much going on Legally morally and just in everywhere. I agree the CEO of the works So I would just put I know a lot of people have said to me over the last couple of months Wow Boeing should be a fantastic buy and I said, yeah, you might be right looking out But what are you going to do if it goes at the time that we were talking was in the 370s 380s I said, what happens if it goes to 280? Are you going to you know, are you going to get out and then start to see? Yeah, are you okay waiting five or ten years to make sure that that stock rebounds, right? Because I agree You're fantastic buy, but oh he's going to be around. I agree But they are in one of the most worrisome iron analyst this morning talking about when you're dealing with scandals like this You got to kind of pull the band-aid off completely You got to have some transparency at least so the market believes that everything is out there Especially when you deal with something so horrible with hundreds of lives being lost as a result of that and that does not seem like it's happening And that's the most worrisome thing just from a financial perspective let alone Like you said the moral which means that regulators at any point can say, you know, maybe they ready But I want to be just a hundred percent sure and they're going to keep doing that and that's going to extend anyway That's going just to finish it bowser because the one thing that I found remarkable on their earnings Is that they said that they expect the 737 max back into rotation fourth quarter of 2019? That is by the end of this year yet the airlines that use those planes do not so I Question everything that Boeing's putting out there and you know the earnings of course took a huge hit But the market knew that that was going to happen over the course of the last year But you know and I still say, you know Tom and I talk about it I can't imagine that that plane is not going to get rebranded at some point that 737 max name takes on such a It's finished. Yes. Oh no rebranded the left to test it at least for months Yeah, and that's why I imagine you know where where is that by the end of 2019 folks? We're 70 days outside of the end of 2019. I can't see that plane back in rotation with a new name fully tested With lines of people jumping on those planes commercially. I don't see that happening So we'll see that's what Boeing is saying is going to happen I'm going has the capability to absolutely rectify every single mechanical or technical electronic thing There's no question. They have the resources. They have everything how they got into the situation It's silly to talk about it because we know that Boeing was one of the most respected companies in the world Definitely and they have just ruined that reputation. Yeah, it'll take a long time Chief technical pilots for the 737 right coming out and using the word egregious in terms of how the software was handling And that was ahead of any of the flights. So I don't trust them at all So if they're telling us it's safe I want other people like maybe the faa maybe regulators to come in and and back up anything They're saying because like you say they've lost the trust and that's pretty important When you're talking about flying people around the country when it comes to trust they were the gold standard I mean you went into a Boeing you just felt secure if it was all right So enough with Boeing. Let's go to the nitty gritties what I wanted to show you and I think this is going to be very important Is that within the context? Let me just do this. I'm going to go I'll just do the tower even though I haven't got the most up-to-date data. This is very unusual I must be a little get your trade station. It doesn't happen often So there's a consolidation going on there. Okay. Well, we've got a break coming Perfect. We'll tease it right there folks. Now we're gonna be back in three minutes We're going to dig into the dow. We're going to play into what we have happening in earnings We got oil inventory basil coming up at 10 30 as well a full day of action books We have the s and p flat nasdaq negative by nine dow up 47 basil and I'll be right back If you're not currently using the taz profile scanner when looking at setting up your trading opportunities Then your arsenal is short a mighty weapon The taz profile scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks etfs commodity futures and forex headed by steve doll Taz understands that in today's technological world the use of top flight software applications and technical analysis Expertise is essential to successful trading in today's market You also gain access to the webinar that steve doll and tom o brian just hosted The best way to use the taz profile scanner to profit this webinar archive is available for all subscribers Immediately upon signing up all new subscriptions also come with a 30-day money back guarantee So you have nothing to risk start your subscription by visiting the front page of tfnn.com today And you'll find the taz profile scanner under the services tab sign up today Are you in the market for buying or selling real estate in the bay area? 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That's 7 27 32 9 83 22 call us today Many of our new listeners have heard about the tiger's den The tiger's den is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere Hear all of the tfnn shows plus see all of the charts as they happen live and have access to archives of all of those charts You can test drive the tiger's den absolutely free for 30 days and greatly enrich your knowledge of these markets And how to make your money work for you details on the tiger's den or on the front page of tfnn.com Tfnn has launched our brand new website You can still visit us at the same tfnn.com URL But when you do you'll see a new and improved homepage with a much simpler navigation Whether you're watching tiger tv live in high definition or just accessing your newsletter subscriptions We even have new pricing in six months and yearly options Check out the new tfnn.com now and experience all the upgrades tfnn.com educating investors All now toll free at 1-877-927-6648 internationally at 727-873-7618 Welcome back folks tommy o'brien with basil Chapman. We get the dow of 27 points right now s and p flat Nasdaq negative by 12 So basil we're going to get into that dow quite a pop from that 730 low We had like you said bowing to do a lot with that bowing up about 3 percent right now But what were you if you could continue digging into that? I wanted to just say that there's a lot of upside resistance just overhead resistance in the dow If you look at the s and p it's pretty much the same thing. There's trend line resistance Prices have been holding well s and p is just down a little bit right now the qqq which is the nvx 100 You can see I've got these trend lines that I've drawn in And it's just saying that while at this particular point the technicals are holding quite well If there's some kind of distribution going on here and we've seen almost the same thing You know I talk about these peak d tops the fourth highest peak is where other things can happen You saw in the nvx at 194 71 on the 12th of september dropped sharply down to 181 We just made a little double top at 192. I think it's 97 in the qqs And a peak d again and you can see in the weekly chart holding okay But really struggling to get out of the way of that that resistance. We haven't seen that happen Same thing if I look at the iwm the russell 2000 just made a leg d It could be a peak d today stuck in the middle of the range So I just wanted to say I don't have huge technical Weakness showing I have price weakness. So that says to me be a little careful here But the other thing that's most important is that the smh's which have been really they've been barometers in many ways Of the markets moves up and down for for couple many years now They made a high at 125.38 the smh trading down now at 223 So from 125 38 on the 15th of october we're down at 121 It doesn't sound like much but when you see how the resistance is coming in And the report of texas instruments yesterday xn Which was it really wasn't a very good outlook at all no plunging downs down nine today and That's the same to me Texas instruments was one of the survivors One of those that didn't get all that choppy move that some of the other semis did It was just holding higher highs higher lows high highs and then all of a sudden it comes down very sharp That's just saying to me. We've got lrs lrcx was lamb research has earnings coming out today's down a little bit the 244.98 was 244. Yeah 98 was the last High all-time high. It's close to that right now What happens there is going to be important and zilinx another one that doesn't get spoken of very much But it's really very much very much part of the semiconductor index Is down quite sharply from 141 high in april of this year down to the 94 area So there's a real mixed market and you know when i talk about mixed markets If you look at you to united technologies United technologies that had good earnings. It has a nice rebound Not too much off the all-time high of 144. It's at 139 right now and yet caterpillar also heavy cyclical Is really struggling. It had lousy report It's holding not bad But if you look at the price the price from the 173 high of january back in 2018 Down to 111 just three months ago trading out 131. It says it's kind of struggling So even with in sectors you've got some stocks that are doing well and some that are not So this is i'm looking at this as a rotational market if we can continue to rotate so that Fairly strong stocks Taking just a breather not pulling back very sharply and the weak ones continue to be weak It means that you don't get this huge No, Joe Granville used to say in bear markets you get 94 percent or more of stocks going down But we've had rotational markets since the 2009 low in the general market fairly We've had one or two 20 percenters But mostly we've had rotational corrections and those mean that you go sideways using up time rather than price So that's really the the emphasis that I wanted to make right now and the heavy stocks in the That were the leaders the fang stocks facebook apple amazon netflix and google or alpha, but they kind of stuck in a range only only Uh, apple went to new highs the rest are kind of stuck So it says that this is definitely a rotational market right now And maybe they should throw microsoft in that fang Maybe they should fit an m in there somewhere with the way that they've been charging up We'll see tonight after the bell some people talk. Yeah, some people. I think correctly consider that microsoft I keep talking about this microsoft was one of the huge winners back in 2000 And then one of the huge losers and then they how they reconstructed how they reconfigured how they Adjusted and became leaders is really a testament to brilliance because that that was I think Managerial brilliance. I really positioning themselves as software as a service and then getting into the actual hardware of launching You know our man. Dave white has talked about it many times those windows computers Just it's not easy to get into the computer business even as microsoft and just uh, they've really made an impact And that's added as well, but you know we're outlook Subscribers ourselves, you know tfnn in terms of the whole uh the suite of products. It's a great deal and guess what though They got us. They got us on that yearly service charge And the service charge that that concept is I think was way more the ones to initiate it But they implemented it in a big way at the time they did not think that is wow, that's a that's a huge step And it almost seems Seamless from the outside, but that's not how it works, right? Then that's where I think it does speak to that managerial shift to to put everybody onto because you used to buy windows and you bought it Right, you bought it. It was yours done deal. Not only that used to be able to transfer to your next machine Exactly And now they've got you and you're looking at this So I was talking to your dad yesterday when I was interviewed by him and I said Microsoft has been I've got an expression that says a rectangle formation can last a lot longer than your patients Look at this from the high All-time high that was the week of the Second of august at 141.50. Okay Well 141 141 68 actually you're looking at Microsoft Going sideways And it just continues to do that. It is starting to show a little deterioration in the technicals But the price is still holding quite well, but I would say 133 to 130 That's going to be key support over the next Month and a half and what's interesting basil. I'm just jumping over the thinkorswim platform. I was looking over it last night I love to look at these one-day expected moves when you come into earnings, especially and Microsoft right now They're priced in five dollars and 11 cents folks So that's kind of taken the one-day option play buying a put buying a call So they're looking for five dollars and maybe 10 cents of movement. That's the volatility that's being priced into the options One way or the other so maybe from any further from 131 to 141 type range depending if they deliver or not Being priced into that market. So we'll find out after the bell basil. I'm going to jump real quick We got about 45 seconds. We're coming into the oil numbers at 10 30 that number. They're looking for a build So we got last night. We got api. It was 4 million plus barrels They're looking for a 4 million plus barrel build as well coming up at eia in three and a half minutes We got crude trading at 54 54 and I just took a quick peak if you're looking at the 54 50 exposure You're looking at about 37 38 Dollars, which is about 38 cents. So call it 40 cents a movement priced in by 11 a.m We'll find out folks. We'll get those oil numbers when basil and I come right back. Stay tuned Hi folks, Tom O'Brien here If you like to get my daily newsletter market insights Then now is a great time to sign up for a 30 day free trial Every morning by 9 30 I send out my morning letter to subscribers with market commentary on a variety of markets currencies and commodities To keep investors up to date on the day's trading action Included in market insights are specific buy and sell recommendations for stocks ETFs and even options Which stops and price targets included for every trade in my newsletter If you'd like to try my newsletter risk free for 30 days Then head over to the front page of TFNN and you'll find market insights under trading newsletters I use my years of trading experience to bisect and dissect the market every morning and give my subscribers the most important information They need to know for the day ahead I even issue afternoon updates for my subscribers whenever warranted with important market action I'm always scouring the market for the next great trading opportunity Sign up for your 30 day free trial to my daily newsletter market insights today by visiting your front page of TFNN dot com Well, go get them folks The path of least resistance is david white's daily trading newsletter And if you're looking for active trading ideas Then now's a perfect time for a 30 day free trial to this powerful daily trading advisory service David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of Lease resistance newsletter using a combination of equity trades along with options David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted Don't miss out on this great chance to get a 30 day free trial to david's daily newsletter The path of lease resistance with no obligation to pay anything david has been delivering solid recommendations for his subscribers recently And if you'd like to see the type of newsletter He delivers every morning then visit the front page of TFNN And you'll find the path of lease resistance under trading newsletters For all the details and to start your 30 day free trial today log on to TFNN dot com now TFNN is excited about our new software charting program the art of timing the trade charts In collaboration with tom o'brien and using his best-selling book the art of timing the trade your ultimate trading mastery system David white has programmed an outstanding piece of software that will complement any trader's methodology Using this first-of-its-kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including guard lease abc's butterflies and much more The art of timing the trade charts is designed to help you when scouring the markets for stocks Just beginning to form the trading patterns that many investors spend days weeks or even months Searching to find and right now we're offering licenses available at only 79 dollars a month We are so confident that you're going to love this new charting software that will even give you a 30 day Unconditional money back guarantee don't miss out on this incredible new piece of software Get your copy of the art of timing the trade charts today by visiting TFNN dot 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 dot com All right basil we got higher prices in crude coming at us $54 and 95 cents right now the number on EIA crude inventories coming in at a decline of 1.69 million barrels the forecast anywhere from 2.2 million barrels to the positive side Less oil than the market was expecting that's going to mean higher prices And we're looking at a five minute bar and we were trading at about 54 dollars and 55 cents coming into that number basil We just dropped 55 pennies. We're now at 55 10 in the price of December crude and man. Oh man That's not even 60 seconds into the number and it's been quite a run for crude from 9 a.m We were trained at 53 66. We're now approaching a buck 75 above that level a buck 50 call it above that level Above 55 dollars in the price of December crude shouldn't be interesting How that continues to trade for the day with a big miss to the downside last week We had a build of 9.2 million barrels this week We get a draw of 1.6 million barrels that crude market volatility everywhere First of all a good call because as we were going to the break you said you're looking at the upside So this is this is very interesting because if you look at the Pattern that I have right here. Look at the data and expand this a little bit here on the left So this one here i'm expanding you'll see crude oil has just been stuck in a range In fact it's been in the lower range And it hasn't broken down And it hasn't gone very much much higher I like to see crude oil actually working its way higher because it's usually a good economic sign Sure, but it's at the same time you do not want to see crude start to trade under 50 I think if it goes under 50, it's a real problem. So here in the 54 55 area I like that that's good and you can see it's just trading it's bouncing You're right. I keep showing these rectangle formations. You remember talking about Microsoft and look at this if you go to gold gold itself Uh, I'll make this a little Smaller so that you got actually expanded there if I expanded you can see I've got that rectangle formation Although we've gone above it and we've gone below it basically the whole 14 Let's call it 1500 to 15 20 area is where gold has been most comfortable trying to get get into that Hugging it maybe going a little higher going a little lower and here it is holding trend line support So this actual actually the move up 10 dollars It's just it's good But it's just keeping it in the range and if you put it together with the dollar which is being coming down The dollar's trying to rally but this is the first time I've got a sell mode in my weekly chart of the dollar In a long time and I'm watching real close to you remember we were talking about those fourth highest peaks peak d So we've got that in the daily chart at 99 46 in the dollar We've now got it in the weekly At a peak d and you've got it as a leg d in the in the monthly chart And the last d was back in january of 2017 in the monthly chart At 103.82 drops a little bit drops down to 88 25 in february starts to move upside We've been long the dollar and subscribers to my opening call since april of 2018 I still like it, but I have said this is a period We've got to anticipate that the dollar is finally going to get quite a bit of a breather as it takes the risk Because that monthly leg d we watch it We've got if in november it doesn't go above 99 46 that becomes a peak d in the monthly So it's interesting that the dollars dropped sharply But gold has come down together. They're always like to say that If you go back and look historically, maybe it's four to six weeks periodically throughout the year That you'll get gold and dollar moving together. Otherwise invariably they're moving in counterpoint But not necessarily in percentage terms if one goes up 10 percent the other drops No, just in counterpoint where the dollar will move up gold will move down So this time they've come together. Yeah, and if you if you put it together with the commodities look Wheat has had a fantastic move from the lows back in april may of this this year running from the four 28 area to 560 now digesting the gains look at soybean Soybeans done the same thing going from what was it was about this is a continuous contract so the price can change Round about 814 in may of this year and it screams up to even just yesterday. The high was 9 931 934 I mean, that's a huge move and corn as we said we Everyone likes to copy tom when they say corn they always say kahn kahn kahn Right, so we've got kahn trading right now down to but it had a spectacular move going from about the 353 it was about 356 Screams up to the weekly 200 period moving average up in the 470 area and it comes down to 352 and ends bouncing up so I think that this is A really fascinating if anyone's looking at the markets and saying what's happening There's been a there's been a change in trend for a number of different Sectors and one is the agricultural Because they were way on the down move. I mean they had Yearly declines that were just phenomenal. Yeah, and then they had spectacular gains Which they gave gave up in certain cases and then they re rebalanced So this is saying that the grains are trying to find some kind of a footing. You've got You've got the tlt which is the bonds having these moves in the tlt 111 to 148 in the 20 year T bond. I mean that's that's like a stock, you know, you should get bonds moving like that So this is definitely where people shrug their head and say what's happening in the market I can understand that but really what's most important to me is the fact that the public Not a word not a pipsqueak. I mean I I've been to events and gatherings for a year and a half and I'm just waiting for someone to come up to me to say Wow, what a spectacular move in name whatever it is. I made a bundle. What a great market Nobody said a word. I don't even want to mention the stock market I think to roll the eyes and shrug their shoulders So it just doesn't stop man. I mean we've been almost on a two-year consolidation that low from December In the markets remarkable, especially from where we've come since then But it's been a non-stop train almost since 2008. We're now approaching 2020 Almost remarkable. You're talking about 12 years of of returns that Everyone seems to come to expect as the norm and as we all know that that's not always the case and we'll see if it continues But we're right up there near highs right now that tlt bad so people look to bonds for safety You buy that tlt at 140 right now You better be aware that you can get some negative price action With that chart because that is some risk in terms of principle Just jumping over you're keeping it on The dollar and so forth. It's interesting basil. I'm checking back the price of crude oil Still kind of up at 54 dollars 96 cents So we got about a 50 cent pop and kind of market just hanging out there for the moment But yesterday, of course, we got the brexit vote at about two o'clock within the two o'clock hour So you had the mps over there approving the first vote Which is to move forward with brexit but then negating the second vote which would have fast tracked it And man, oh man, you saw the euro up there at about 111 15 we're now trading it. Uh, excuse me 111 52 we're now trading at 111 15 and the pound, of course Accelerating as well pulling up the pound u.s. Dollar. We were sitting right at I believe 130 in the pound u.s. Dollar We're now trading at 120 86 so with those two pulling back seeing a bit of Um Impact of course on the price of the dollar but just magnificent moves and and the brexit saga continues And with that that's a good teaser. We're going to go to break folks. We're going to come back We're going to talk to our man teddy keg stat. We're going to talk forex. We're going to talk brexit pound dollar swiss franc We'll talk some forex when we become right back folks. Stay tuned If you're in the cd market and looking for a secure investment the tiger first mortgage program may work for you The security for these first mortgages are building lots in the tax opportunity zone in st. 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Tommy o'brien with basil Chapman right now. We got markets floating pretty close to calm We got the s and p's flat 29 95 nasdaq negative by 14 trading at eight thousand ninety dow jones positive by 16 trading 26 thousand eight four Let's go with our man. Teddy keg stat as we do every wednesday at 10 40 past the hour You can check out teddy every trading day at forex dash trading dash unlocked dot com That's forex dash trading dash unlock dot com and man. Oh man. We always got something good going on in the forex market Teddy keg stack good morning Good morning guys So teddy quite a day yesterday, of course with the brexit I was sitting here on the bloomberg terminal watching the votes come down the first one got approved By about 20 votes on the mp. The second one got denied by about 20 points and you saw that pound fall off You saw the euro fall out fall off a little bit of dollar action Um, what is it? What what's kind of your take on those markets and where we go from here? Maybe we can start off right there Okay, well, obviously we have a timeline Excuse me of halloween october 31st for brexit So for sure that's something we're looking at keying off the information We had the ecb which has some big numbers coming out tomorrow They had the pmi for the eu for germany and france all coming out tomorrow So these are going to be numbers they're going to be watching so that it might be a little stir with the euro us Dollar tomorrow, but as a whole i think we're going to start to see them kind of go sideways into uh next Thursday as we have these votes on you know Unleashed and we see really where we're going to go with as far as direction But one thing you guys might want to take a look at is Besides brexit ending on october 31st We also have a monthly signal that may be triggered in the dollar index And is this could be the beginning of a new uh direction for the dollar index for not just the next couple months But maybe actually for the next couple years so For october we have a bearish and golfing line forming So if we settle right now with the dollar and if today or tomorrow Index was a settle where it's at we would have a sell signal on a monthly basis Also should this signal occur next thursday that might be the second shoulder in a head and shoulders formation on a multi-year Formation for the dollar index And if these two things coincide and are correct Then we probably we see pressure on the us dollar not just for the rest of the fourth quarter But probably for the next two to three years literally And it's pretty cool. Teddy. We've been talking about it and of course, you know Brexit tying into things the pound and the euro getting pulled down so dramatically as we've had so much uncertainty over there And really quite a pop that we've seen over, you know the last few weeks with boris as in maybe the hard brexit taken off of things You've seen the dollar lose a little bit of the steam it's had since then So maybe that sets the trend, but it's been quite a move that you've been talking about man as we've come into that that Vote and kind of that october 31st deadline so far Starting to interrupt you uh real quick the dollar index as it's been pounding these lows I mean the last couple days it's come back Ironically so as the pound the pound has come off its highs the euros come off its highs So there's a this little we have a harmonic that started on october 1st And I think this is going to continue until october 31st even with the brexit going on Yeah, it's it's it's interesting stuff man I sat here for the whole hour from about 2 p.m. Eastern time yesterday to about 230 it took for those votes to come down and um Not to say it was all but expected, but man. It's just history repeats They think that they might get it right the pound is up there And before you know it it falls off that cliff at 230 when the second vote doesn't pass and and the volatility kind of continues Sure sure and I think that yesterday's votes that you're talking about They're they're totally indicative of what we've been seeing for not just the past few months But for the past couple years, um, but it was a positive sign That boris johnson did get one vote. Um, it's a step in the right direction And I think it's probably the first positive signal for him that we've seen actually in a couple months Yeah, I mean we're dealing with it the second vote was a little closer, wasn't it? Yes right I've been dealing with it for almost three and a half years and for the first time they actually got a vote to um to go forward with Brexit now they they pushed the timeline back Um, which is why you saw that kind of delay, but pretty remarkable You know, you had all those Theresa May defeats And then they finally get one get one forward So three and a half years a little bit of progress inch by inch they get there, but that's where we stand And they say things take a long time in the us Oh, right and you know the the lead up to that before we jump to some of the other cards The lead up to that was, you know the fast track, right? Oh, man. How are you going to do this with only three days of negotiations? Um, and I I kind of agree with that sentiment You can understand that sentiment for everything on the table, but you got to keep in mind They've had three and a half years to do that action. So, um frustration everywhere. How about the yen? Teddy, I know we're always looking at that we get the yen trading about 108 57 right now What are you looking at for the yen? Now the yen is the one currency is kind of funny how Where the dollar has been weak and the other major currencies have been strong The u.s. Dollar yen actually has been the opposite So while the dollar's been under pressure the yen made newer highs recently just last week Now it has been consolidating over the past couple sessions And I think that that's because we have so much geopolitical news that's coming into play So and to the upside It's it's a it's just a grind like you notice if you take a look at the high that we made a couple sessions back That took out the last swing high by only a little bit. You're talking about a half a buck move You're not there's not much room to the upside now I'm still bullish overall especially because I'm bearish the uh the dollar index right now And if if that if especially as we trade in the next thursday at the dollar index falls under pressure again Then I think you're going to see the yen actually continue to make new highs But I don't think you're going to see Any exacerbated rally. I think you're just going to see it just kind of tick through Make new highs and be a grind where I think your your weak shorts are going to get squeezed And I think your weak longs are going to get chopped up. I think you just kind of got to ride it and just hang on Yeah, pretty remarkable, man When you look at that just going back to kind of the beginning of august And man, we had so much turmoil whether you look that was kind of where our rates went, you know Gangbusters as well, but you're the yen basically almost right where we're at, right? You trade down to almost 105 and now right like that. We're right back almost at 109 The swiss frank teddy. I know we talk about that a lot Yes, always taking a look, you know, you're talking about parody and so forth. What are you looking at for that swiss frank the chf Right now. I think for the us dollar swiss I like the the little bounce that we have over the past couple sessions I think that we'll probably see that rally continue Maybe over the next day or so into the end of the week, but I'm looking if especially if the dollar index starts to go lower I think you're going to see the swiss frank actually get down to that like 97 30 area 97 half area Okay. Yeah, we're trading. What are we 99 08 right now on that swiss frank? Nice, right? We had a rejection of parody. I think right now you have to look at the short term trend where You know, we're it's it's indicating at lower move lows. I mean you make a lower move high lower move low Lower, you know, I mean you just have to go with the following, you know with the trend Yeah, that's the trend is your friend as they say it doesn't come from nowhere, right? For sure because they don't care about brexit and the eu stuff like that. They're different Yeah, that reliable swiss frank for sure Right. I like it. I think as a trader as as if you want to avoid the news right now Trade this trade the swiss and key off the dollar index. I think the yen is going to be a tight trade The euro and the pound they're they're kind of you know, the euro gains strength, but it went away. No fire You know the buckle eight area like eight half Teddy we might have to move this to two segments going forward and we got so much happening in the forex market That was a quick nine minutes folks. You saw the charts we had up there Check them out teddy every day forex dash trading dash unlock.com teddy. We appreciate it man. We'll talk to you next week Take care. Take care, man. We'll be right back. You are or strive to be one of the best of the best at everything you do in life It's the most common trade that we tigers and tigers is share If you're looking to become the best of the best when it comes to managing your money Let me teach you to do what most wealth managers tell you can't be done Which is how to time the markets i'm steve rode's author of mastering probability and for the last 12 months Timer digest has been tracking my newsletter signals Which have earned me the ranking as their number one market timer in the nation for the s and p 500 for the last 12 Six and three months timer digest also ranks me as the number one market timer for gold as well The fact is markets can be timed and i'll teach you the exact set of tools that i use that is Transform me into one of the best at what i do sign up for mastering probability today By clicking on the newsletter tab on the homepage of tf and n dot com and get immediate access to workshops Where i take you step by step how to use an extraordinary set of tools as well as provide great market calls too Sign up today If you're a trader in the market looking for exposure to gold or gold mining equities Then now is a perfect time to sign up for tom o brian's gold report The summer is over gold is trading back above $1500 and the 10-year treasury is hovering at around 1.5 percent Tom o brian has been writing his weekly gold report for almost 18 years There's no one that knows more about how the gold market trades and how gold mining equities react new subscribers get a 30 day money back guarantee So you have nothing to lose every monday morning tom publishes his weekly gold report with coverage of gold silver bonds the x au Hui gdx the dollar as well as more than 30 different mining equities as of september 3rd Gold report subscribers have five active open positions with an average unrealized profit of almost 38 for each position to see for yourself the types of profitable trades that are recommended within the gold report Sign up today by visiting tf and n dot com Since 1984 basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion While originally hand drawing charts from the late 1970s into the 1980s basil noticed that prices under most circumstances Virtually always had a certain number of legs to the upside before declining sharply Later basil found the computer software which included the standard market technical indicators enhanced the degree of accuracy and calling price turns As well as market trend calls thus was born the Chapman wave sequence Using the Chapman wave methodology along with other indicators basil Chapman advises his subscribers of his expert market opinion Each market day with his opening call newsletter right now You can get a two week free trial to the opening call basil's daily trading newsletter by visiting the front page of tf and n dot com Cancel at any time during that trial and pay absolutely nothing get your two week free trial to basil's newsletter The opening call today by visiting tf and n dot 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 tf and n dot com Welcome back folks We got markets inching into positive territory s and p's positive by four nasdaq positive by six dow jones positive by 20 checking back in on that oil market It continues higher basil 55 dollars and 20 cents We're now up about 70 cents since we got the number But man, we're approaching now a solid dollar 60 dollar 70 from the price we were trading at at just nine a.m and folks You heard basil here check out his newsletter Great service the opening call right under newsletters daily service and what you get in there as well You get a plethora of archive webinars that basil has in there for his subscribers. You see him here I'm just accessing this is the subscriber webinar page This is just the webinars just kind of the add-on let alone the daily updates that you get every day That basil puts out for his subscribers, so I encourage you to check that out 30 day money back guarantee Basil always doing a great job for his subscribers. So with that in mind basil What do we got coming up in an hour for the tiger technicians hour? So what's going to be important is to be able to assess the with two Semiconductors three actually semiconductor stocks coming up that are of importance to today and intel. I believe is tomorrow Okay, it'd be very important because SMH is as I say they've really been harbinger of trends for some time And I don't want to ignore that at this point It does look like they it's kind of toppy in the semiconductor area But I'm hearing that the orders are starting to come in for some of the some of the companies like applied materials Alarm research So we'll see how that plays out because this texas instruments might just be a one-off We'll see yeah most importantly if the smh is in the next week or so actually start to trade above 126 They're at 121 right now. Oh, that'll be really good action. And you can see the impact folks I mean even intel getting hit texas instruments intel down about 1.3 percent And to pull up intel for that expected move two dollars and 13 cents right now The market pricing in when they come out with their earnings Basil, I appreciate it as always man. You have yourself a great day. We look forward to the program at noon Thank you. Tell me you always enjoy. Thank you. Stay tuned folks fast market coming up right now