 But folks, head on over to the front page at TFNN right under the newsletter tab. You can find the Tiger Forex report. Teddy's outstanding report. He puts out every Monday with updates throughout the week when warranted. And don't forget, he's got a couple of great webinars out there under the services tab, talking about capitalizing on time with calendar stock option spreads, as well as Japanese candlestick pattern stock and option strategies. And it's always, I always say, Wednesday's a great day, Teddy. We got some action. And boy, we got some action today. Good morning. Good morning, Tommy. Boy, quite the move. Let's kick it off if we can with maybe yields. Boy, we got the drop going on. I mean, you tell me where you want to kick it off. I know they're all related. But boy, we have a 3.95 handle. 3.95 handle. And by the time I let you talk, we may have the dollar index with the 102 handle, Teddy. Where do you want to kick it off, man? Well, I think interest rates is really obviously the place to start with today since it's Friday. And I've been watching them all week very tightly. And the one thing I noticed, especially on Monday and yesterday particularly, was that the euro, now not to confuse the euro dollar currency, the euro dollar future, that's the interest rate future. Because there is a euro currency future. This is the interest rate. That's a very short term, it's a very long term short. It's a short term rate that has multiple months over multiple years. So then I looked at the two year, the five year, the 10 and the 30 year. Interestingly enough, the short terms were really leading the charge yesterday, meaning that the spreads were out of whack. And they started to catch up mid-morning, which meant now when a spread is out of whack, what that means is that a spread is normally trading along either trending, whatever, but when it gets out of whack, it totally breaks away from that line. So yesterday that happened. The short terms were driving yields down. The 30 year was dragging. Then all of a sudden you could see in the currencies that they were beaten up. So what's the reality with that? Well, the short terms weren't budging. Then it was a nice little buy trade there, meaning sell versus the dollar. So like you saw euro and the pound and a couple of their currencies, they've been going sideways, but intraday they started to lift because those interest rates spread started to come back and play. Today, fast forward, we are now back in line. When I say that we're back in line, it means like if you look at it, like you can pretty much eyeball it on a daily basis when they start to move and when you have to look at the relationships. The bonds will have typically, let's say if they're up 21 ticks, the 10 year will be up 15. The same is kind of like for like the two year and the five year. So let's say the two year is up, or let's say the five year is up 10 ticks. Well, the two year is gonna be probably up about six ticks, okay, five ticks. So in that relationship, they're pretty much back in line coming into the meeting. So I like the stability of pricing, even though we're trending into it, and I think that's where you gotta be careful because right now, if you look at a daily basis, we have a short-term self-stingle starting in the dollar index today because they've been, they were coming off of a swing low, they started correcting back to the upside, but we've been going sideways for two weeks. It's been a very tough trade. If you really look at the charts, they're very tight. They haven't really been going anywhere. Everything has been wedging. And there's a lot of expectations that now we're gonna start seeing this dovishness and stuff like that. I would be very, very careful. I think that the market is so far ahead of themselves in what they're predicting in the future. It's nonsensical. Here's the main reason why. Why was the Fed doing what they were doing for the past year and a half anyhow? To stop inflation, correct? Numbers have, maybe the inflation supposedly is slowing down and what have you, but we're starting to see some upticks. What happens if you cut rates, okay? If the theory is right that raising rates cuts and slows inflation, we're gonna start to accelerate inflation, okay? So now if you start to accelerate inflation by cutting rates, what's that going to do? Well, you're gonna shake up the market for sure. I mean, you may see lower interest rates, but here's the other thing too is people think that if we have lower interest rates, the real estate market's gonna get a jumpstart. Actually the opposite's gonna happen because what's gonna happen is now people may be able to get financed but people are gonna raise their prices. So you're gonna see inflation in real estate also. So I think the chairman Powell is in a very, very sticky situation with the S&Ps on their highs, you know? Rates reflectively without them cutting have come back significantly since the fall, you know? I mean, the public may not like it and the media may not like it, but that's the reality. It's a mathematical reality, you know? So I think that we have to really watch the tone that comes out of the Fed. I would be stunned if they do anything hawkers today, let alone even speak of it in the next like couple of weeks either, you know? So that being said, I think it's gonna be a very tough sideways trade today. We were talking about that last week and it really is that it's become a little wedge. So I wait for a breakout because we really right now there's probably have a lot of false signals that are going off right now. And I would just, you know, I don't think you're gonna get the follow-through until we have a confirmation after today. Because remember it's a free trade after today. The Fed doesn't meet again for another two months. Yeah, it's some great points, man. I can't wait to see what he has to say. Quite the tightrope that he has to walk. Pretty remarkable that it yields under 4% in terms of, you know, where are we gonna move to even if the market's pricing in a lot? As you said, the expectations are pretty sky high when you look at where we've come with yields we're under 4%. We were over 5% at one point. So you talk about quite a recalibration on some of those expectations. And boy, when you look at where the Fed, just where the market is pricing in some of those cuts, man, very aggressive in terms of three, four cuts coming in potentially by like the middle of the year almost, which is just gonna be here before we know it. Watch the option markets because that's where, you gotta remember, they put all these numbers out. Well, trades are put on based off of these expectations. You know, especially when they're coming from sources like the CME and stuff like that. You know, I hate to tell you like, just because it's coming from the CME doesn't make it the gold standard. You know, so I mean, believe me, none of them are stepping out saying that this is what's gonna be the future. That's for sure. You know, so now I think you're gonna see a lot of option activity, you know, and I would be careful, you know, with the S&Ps on its highs like that, I mean, think about this, if rates start to get cut, you know, yeah, it's good for bond portfolios because they've already seen an uptick since the fall, you know, that all the money that comes in up until, you know, everyone's tax money is still coming in this month. You know, so where are they rolling that into? You know, they're rolling it into bond funds. You know, they've been rolling it into the stock market. So be cautious with this January effect rally, you know, also, you know, so that's another thing I think we have. Well, it'll be interesting where we're at next week when we can really get a gauge on things. And I like you saying, I mean, just sitting at 5,000 in the S&P when we've been on a hiking cycle for almost two full years, which is remarkable, almost to your point in terms of, well, where do we go from here? As in we've already accelerated the highs, not usually the case when we're at five and a quarter to 5.5% and we've been here for a while and they've been hiking for two years. So what happens when they start to cut? We find out. Can we jump to maybe crude, Teddy? As we got crude, a little bit of an elevated level. We've been talking about kind of, you know, oh, that's five, we inched to actually 79 on some geopolitical action this weekend and we're back to 77. You know what, Teddy? I have a quick break coming up. Can you hang with us? And we'll finish it up with crude. How's that? All right, spoke, stay tuned. We got crude sitting right at 77 bucks as we speak and yeah, up to 79, 29. We're gonna finish the conversation with our man, Teddy Kegstad. When we get back folks, stay tuned. We're coming back in three minutes. Don't go away, we'll be right back. The Gold Report. As a precious metal, gold is still king. It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market, the US futures market and the Shanghai Gold Exchange. The Gold Report. Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, the Dollar, Bonds, the South African Rand as well as 25 different mining equities with specific buy-sell recommendations. The Gold Report. New subscribers get a 30 day money back guarantee so you have nothing to risk. Subscribe to Tom O'Brien's Gold Report newsletter now. At TFNN.com You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. 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You got Google shares in the red by 6.1%. We're talking to our man, Teddy Kegstad, folks. We're talking a little bit of forex. We're gonna talk some commodities. And I got crude up there, Teddy, with a 76.93 price point. What do you think about this crude action? Well, you know, since we talked last week, you know, for the past month, I've been, you know, it's been range bound in the 70 to 75 barrel was kind of my target for it to be at. You know, I mean, obviously we have instability and you know, what's going on in the Middle East, but that really doesn't seem to phase oil too much. But we did have a nice breakout to the upside a couple of days ago. So we finally got above $75. I, now here's where you have technicals that conflict. Right now, obviously we're coming off a higher move low. We just set a higher move high a couple of days ago. Short-term, I think that we have probably come to a nice area. I think we're gonna probably have a little bit of a pullback and my bearish absolutely not. I think you got to look to buy the dips on it. I would just be cautious at this level where it's at right now. I think we have a good chance of probably slipping back to about six to test versus, you know, 675 was resistance. Now it's gonna become like support, which it seems like it is. So maybe dip to like six down to maybe extreme of $74. And then if the trend is true for the new trend, like you gotta realize if the low that was set back in December, if that is now a longer term trend low, higher move low, then we are setting a bull trend up for the longer term going into the spring time. You know, so, and I think that right now I would look to be a buyer around 74 to 74 and a half. If you're not long already, I would be cautious. If you're, what might be a good trade right now is to short going against the high from what was it on Monday. So if you use that as your risk, if you're bearish and you wanna see if you can catch a little dip, I would not be short above that high though. If we take out the swing high from Monday, then I can see us going up to easily hitting 81, 81 half and maybe have a little trouble there before we even head up to about 85 bucks a barrel then. So it's a great take, man. I appreciate it as always, Teddy. We'll talk to you next week, man. All right. Thanks, Tommy. Folks, check out that Tiger 4X report. Always a great segment with our man, Teddy. Stay tuned. We got quite a market. Basil Chapman's coming up next, folks. Live programming all day. My dad's back in the saddle from 3-Till 4.