 The following is a presentation of TFNN, the morning market kickoff with your host Tommy O'Brien. Good Wednesday morning everybody. I'm Tommy O'Brien, a company alive from TFNN just after 9 a.m. Eastern time. Did you have a credit downgrade on your bingo chart last night? But boy, it comes in not too surprising if you've been following how we're managing our debt, how politicians are getting it done. Nonetheless, the market trades down slightly. We're off 7-tenths percent right now in the S&Ps. You dip to a low overnight of 45-52. I got this chart up on a five-minute basis on the Thinkorswim platform. Nasdaq 100, down almost one full percent, 15,670 right now. We take a look at the Dow of 194 points. That's about half a percent in the red. We got the Russell off about 9-tenths percent right now. That's 18 points in the red, trading at 1,985. We jump over to the Dollar Index on quite the economic news. Well, it's higher. Surprising, right? Not surprising, man. You should probably be higher. Our credit rating deserves to probably not be a AAA, folks, if you're paying attention to what's going on in politics. This the day after the president gets indicted yet again, this one, for trying to subvert an election and you got to tie it together to a degree, all right? Everything gets political these days. But the disagreements when it comes to the debt, the disagreements between politicians on allowing that debt limit to be raised, not too outlandish to imagine that maybe we start to default on some of that money for some period of time. I don't think politicians will be able to let it go for too long because even though it's our debt, it's also we're the ones that are owed that money as well. So politicians would take quite the heat before you look at how things are shaped in terms of the perspective of the political apparatus. You talk about Trump. You talk about the divisiveness of politics right now in general. Biden, Trump, Clinton, wherever it is, man. Not surprising to think that maybe, maybe, folks, it would be difficult to get an agreement on all that debt going forward, man. But let's get over to the headline as we kick things off. The Fitch, they cut the downgrade, excuse me, they cut the U.S. credit rating from AAA to AA is the headline, AAA to AA plus, let me be exact here. The move comes just after two months after it warned the rating was under threat as lawmakers flirted with default by battling over raising the nation's debt limit. The credit grater justified the shift by arguing the country's finances will likely deteriorate over the next three years given tax cuts, new spending initiatives, economic shocks, and repeated political gridlock, okay? That's the real key there. We can always pay the bills, but boy, we can't compromise on just about anything right now. You have Treasury Secretary, of course, yelling out there, pushing back downgrade arbitrary and outdated. Here's the kicker though. Check this one out, right? Because this article mentions it. It's interesting how these all come together. Hours before her department is set to ramp up its borrowing to plug a ballooning budget deficit. Interesting how that goes, right? And there's your article on the 103 billion. Yeah, the U.S. plans 103 billion dollar debt sale says the issuance to keep rising. In what world are we not at least at some point beyond a triple A rating when you see the things we're going through, the debt that we're pushing out, doesn't mean the country is going BK, folks. We can get over this, you know? But we need some compromises, okay? Got to find the middle of politics on a lot of things these days. Very unfortunate that everything is either far left, far right. You're in your camp. You're in your cult, wherever it is. And that's not just, that's just not how things work, man. Just not how things work, you know, in terms of government is the art of compromise, man. There's always going to be disagreements. We got to find somewhere in the middle, period. And that's just not happening right now. So shouldn't be a shocker that this comes out, man. Yeah, but we got 103 billion. So the Treasury boosted the size of its quarterly sale of long-term debt for the first time in over two and a half years, testing the dealer's appetites amid an increase in government borrowing needs. So alarming, it spurred the Fitch rating. So they're going to sell 103 billion dollars of longer-term securities next week, which span three, 10, and 30-year treasuries. That's up from 96 billion total last time and slightly larger than most dealers had expected. So what do we got, man? We're going to be paying higher yields, bottom line. That might push some strength in the dollar, which you're seeing play out this morning. That's why I jumped around there. There's your dollar index. We're up by 16 ticks right now, 102.50 on the dollar index. You jump over to yields. You jump to the 10-year right now. We're dropping like a rock, man. This is the interesting part of this whole conversation, right, is like the mantra has been out there that this is the time to buy yields, right? The Fed is done with their hiking. Whenever it's a no-brainer, it's not a no-brainer, folks, okay? So it's going to be interesting to see how this plays out. But that's quite a boost. We got the 10-year up. Four points right now. Four basis points. We're pushing 4.09%. We're at a price tag of 124 right now. You jump over to the two-year. Oh, you jump over to the two-year. Yeah, and we've dropped as well a bit. Let's just even take a look at that yield curve right now. We're talking about a two-year at 4.9% right now. We're talking about the 10-year at 4.09%. The 30-year coming in at 4.16% right now. The yields, and those are on U.S. Treasuries. Pull that yield curve over so you can take a look at it real quick. Yeah, the two-year, as I said, just about 4.9%. That's actually unchanged a bit, but you go out, and that's where you get the accelerations, right? The 10-year, up by four basis points, pushing 4.09% right now. The 20-year, up by five basis points. The 30-year, up by six basis points. Duration, you're paying some more money. Not too surprising, yeah. So Trump gets indicted yesterday, okay? And I'm bringing this back to the market, folks, because if you think there can be an agreement everything's gonna get paid because we're reasonable people, okay? You know, all you gotta do is listen to the vice president's words, man. Okay, this is the vice president who Trump almost got killed. That's what happened, okay? My opinion, you can call it that, okay? But it's pretty remarkable when you have the sitting vice president that was on site, almost caught by the protesters. And meanwhile, somehow Trump supporters just have anything, man, even the people in Congress, okay? Trump's indictment. Today's indictment serves as an important reminder. Anyone who puts himself over the Constitution should never be president in the United States. He has a couple that follow there. That is his Twitter account or his ex-account, whatever it's called these days. He'll have more to say after reviewing the indictment, the former president's entitled to the presumption of innocence. But with this indictment, his candidacy means more talk about January 6th and more distractions. And as he said it, man, puts himself over the Constitution. Now, the reason why I bring it back to the debt feeling, okay? Is that this is the vice president of President Trump. And even with his life at risk, with him out there on, thank you, Loto, maybe they got me in there now. Hopefully you guys can hear me. I know it's up on YouTube. No wonder there was no reaction as I put it in there. Be aware of the divisive differences and how this plays out, okay, into the debt. Because no matter what you think about politics, realize that reasonable minds are not prevailing right now. And so that's where it ties back to the market, man. You know, I haven't talked about the indictments yet, but boy, this one's the most serious. We all saw it play out in real time. We saw what McCarthy said that as it happened, okay, when he was the one that was in the building at risk. And now we've seen them come out of that two and a half years later, trying to hold on to power and trying to court the supporters of the president in the same time. But, you know, Pence, you take his words for it, man. He was the vice president. He's been so supportive of Trump until Trump almost got him killed, okay? But you talk about reasonable minds prevailing. Yeah, not quite what's happening right now and not surprising that the rating gets cut, folks. So it shouldn't be a shock for the markets. Lots to talk about today. We're talking to our man, Teddy Kegstad at 40 past the hour. 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There's no cash or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Welcome back, folks. We've got S&Ps down about 33 points right now and don't forget, folks, we've got our man Larry Pezzavento. I should have mentioned it right at the top of the program, man. He just kicked it off. His live trading event just began 18 minutes ago. That's still on the front page of TFNN, folks. You can get in there. Boy, he's got a great crowd in there right now. I was in there at a nine o'clock program, began at 9.06, so I was in there for a few minutes right before I began my program at 9.06. Still time to check it out. It will be archived. You can sign up at the front page of TFNN.com. And our man, Teddy, there's a little teaser, man. He's got a webinar coming up a week from this coming Monday, August 14th. He's going to be talking about candlestick patterns for stock and option strategies. So we'll talk to Teddy at 40 past the hour. He's written a book on candlesticks. So we talked to him about forex always. This webinar is going to be a little bit more equity-based, going to be a little bit more options-based stocks, options, candlestick pattern. If you're new to candlesticks, if you're new to trading at all, folks, I encourage you to listen to that segment coming up at 40 past the hours. We talked to Teddy about a little candlesticks and talk about a great day to have Teddy on as well. Wednesdays, there's always good action in terms of news on Wednesdays as we get a credit rating on top of it. So we get dollar action. We get bonds moving this morning as well. And what else we got? Where am I jumping to? Jobs, yeah, that's right. Say it ahead. There we go. We also have jobs. So we got ADP numbers. This is private payrolls this morning, 324,000. Now we get non-farm payrolls on Friday. And boy, these numbers differ greatly sometimes, okay? But private payrolls, 324,000 is the number. For July, can't believe July was last month. It's already August. You see on the chart where we are, the median estimate was 190 where 324 were far above that. Doesn't look like a pullback or a slowdown to me, man. Look at these job numbers we're adding, right? Just continuing strength on the ADP in a big way. Now what I will say is last month was a huge beat there and we had a non-farm payroll number that really with revisions was only an add of, I think 99,000, right? Somebody correct me if I'm wrong in the den, but I'm pretty sure when you factored in revisions for the last non-farm payroll number, we actually had a net gain of under 100,000 because of the revisions, which I think were greater than 100,000 on the downside. So we see where we go with that number on Friday. Broad-based, we got 201,000 though, advance in leisure and hospitality. Leisure and hospitality, man, just crushing it still. Jobs added in all regions, the self and concert, okay, excuse me, jobs added in all regions, but the self and concentrated among businesses with less than 250 employees. I guess you don't wanna be working for big companies in the south, right? Companies with at least 500 staffers shed positions for the third straight month. This is all small businesses, getting it done, man. The cumulative loss is the biggest since the onset of the pandemic, talking about big companies. Wage growth decelerating, okay, but still some big numbers, man. Workers who stayed in their jobs, 6.2% pay increase in July from a year ago. The slowest though since November of 2021, for those that changed jobs, you're still talking about double digit pay increases, man. Again, slowest in two years though at 10.2%, big numbers. Leisure and hospitality, right? Just crushing it, 201,000. Mining, next one up there, 48,000. Information sector, 36, trade transportation utilities, at 30 and down the line we go from there. So strong numbers, that's an indication of potentially where we go for the non-farm payroll number. Now the non-farm payroll includes government payrolls, it's gonna provide further insight into the direction of the labor market as Bloomberg puts it, and the market is looking for about 200,000 jobs in July and wage growth cool somewhat. So we get that in about $48, we get that on Friday at nine in the morning. All right, let's talk a little bit of mortgages. Come on, there we go, we got ads popping up. Mortgage demand from home buyers drops for the third straight week as interest rates rise. Well, guess what folks, they're going up again. Yeah, because the credit ratings now double A plus and the market's reacting and we have higher yields and so that number's gonna go up again. We're probably gonna be pushing 7%, right? Average contract interest rate for a 30 year fixed mortgage, conforming loan balances. How about 726 being the conforming balance number at this point, right? You talk about inflation, man. Increased to 6.93% last week. Well, we're going up again, man. Mortgage applications to purchase a home fell 3% last week compared with the previous week. Seems like we're stuck right at around 7% on those mortgages, man, until the Fed really does something. Yeah, 6.93 from 6.87, conforming loans with a 20% down payment. The rate was 5.43% the same week one year ago and rates have been above 6.5% since the end of May. Yeah, and with that though, housing just holding up so well in the face of just relentless, aggressive rising rates across the board, right? All right, what else we got here? We talked about jobs. Yeah, let's talk a little Amazon. This one's different. Let's take a look at Amazon this morning. We got growth stocks trading lower. We got the Nasdaq 100 almost off 150 right now. We jump over to Amazon shares. They're going to trade lower by about a dollar to 130, 74. And this article is talking about groceries. So they bought Whole Foods many, many years ago at this time. Maybe they even mentioned it in this article, but this is the biggest overhaul to its grocery business since it acquired six years ago. There it is when they acquired it. $13.7 billion is what they paid. Now what's remarkable is they really haven't done much. If you remember when this happened, folks, and I do remember when this happened, man, June of 2017, Amazon stocks skyrockets at the time. And this is the article back from 2017 on Bloomberg. Okay, Amazon stocks skyrockets at the time. Maybe that was pre-market. They hadn't even got there. But all the other grocery stocks, yeah, Walmart fell as much as 7% when this number came up. None of this has played out. That's the point that I'm going over this for, right? Kroger tumbled 17%. Let's see where Kroger is since June of 2017, man. The KR, yeah. Let's see. What do we got to go back? Look at this. Well, there's your Amazon pullback, folks. You talk about a buying opportunity, right? Look how this played out, right? Kroger was trading at 30 bucks when Amazon buys Whole Foods. The big tanks to $20 in a heartbeat. You get back to that price point, you test it again. And this is why having your back against the wall, man, right? One area that's had support prior on the chart doesn't mean it's always gonna hold, but at least you can build your trade around that area, okay? Maybe you start scaling into this thing if you're looking for action with a stop somewhere below $19.69 or below that price area that you'd been at. And yeah, you've traded from $20 back in July of 19 to $50 right now. And it was a one-way trip, man. You got a little bit of finding the COVID volatility. There's your COVID volatility. They didn't even experience COVID volatility at all. Yeah, 2020, yeah, 2020. Remarkable, man. This thing just accelerates higher. So that's Kroger. Boy, Walmart since then, right? What do we gotta go to? There's their, okay. So there's June, no, that's June 22, excuse me. You can't even see the pullback in 2017 on this stock. Okay, there's your pullback for Walmart shares on that acquisition. Amazon, 75 bucks. It pushes Walmart too. And you're trading at 160. So we're gonna talk about this when we get back, folks, because it's an interesting one. That's the old article. Let's get to the new article. They got a lot of work to do, man. I didn't even realize. I don't order my groceries from Amazon. I love Whole Foods. We don't have a Whole Foods out here near Lakeland. We have one in Tampa, but interesting. I don't do it. They don't even control 5% of the market right now. Amazon, 4.4% of the market. Walmart, 22.3%. Kroger still at 10%. Costco, at 6%. We'll talk about that. We got some big revamps going out there. And they're gonna start inviting people without Prime even in some big US cities. We'll talk a little bit about that when we get back. Stay tuned, folks. We got a lot to talk about. We'll see how these markets react to the open on a credit downgrade. Stay tuned. We'll be right back. Building wealth trading in the stock market seems impossible to most people. They think it's too volatile and risky. Most people aren't going to take the time to educate themselves on how to do it right. But you're not most people, are you? At TFNN, you'll get the guidance you need to refine your strategies and techniques to invest like a pro, because you'll be a pro. All TFNN subscriptions, books, software, and courses are available at tfnn.com. And I'm even going to tell you how to get them for less. Use TFNN's Tiger Dollars and you'll get up to a 20% bonus on your purchase. And once you apply them to your account, Tiger Dollars are automatically used for all future or recurring charges. 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That's off about four tenths percent and the Russell off by right at 1% right now at 1983 markets jumping around a bit. We jump back to Amazon shares. Amazon off 1.6% right now. Let's check out how some of those fang stocks are trading. We jump to Apple shares off about four tenths percent. Microsoft shares off 1.1%. We got to jump to the Magnificent Seven, right? NVIDIA shares off 1.7%. We jump over to Tesla shares off 2.2%. Quite the moves across the board. We go back to Amazon. So interesting off 1.5% and this is a little bit big picture. Okay, talking about the overhaul here about an article out this morning from Bloomberg talking about the biggest grocery overhaul since buying Whole Foods. And what's interesting here, which I didn't even realize, okay? The changes are gonna be rolled out in the coming weeks and months. The latest effort to grab a bigger share of that market. They've elevated a slate of more traditional retail execs to help. You have a former Tesco exec leading the charge, Tony Hoggett, deep brick and mortar experience but confronts a landscape dominated by the likes of Walmart and Kroger. Between the two of them, you're talking about one out of every three grocery dollars in the country is spent at Walmart and Kroger. Almost one out of every four dollars is spent at Walmart alone. Costco, Albertsons, Amazon. A-hole delis, what's that? I don't know what that one is. Publix, good old Publix, 3.5. They get a lot of my dollars. They're pretty pricey though. As inflation has risen, we do Sam's is what we have around here. That's Walmart of course. So they get that done in that perspective. Now what's interesting here is that they're gonna try and transform Amazon from something of a niche grocer specializing in organics and home delivery of cereal and paper towels into a destination for shoppers trying to stretch their dollars and consolidate trips to the store. It is a huge task, man. What they're saying there, okay? On August 2nd, Amazon today, they're gonna invite people without prime. Now I found this one interesting too, man, because I thought it's all about prime, right? They got so many prime members. Do they really have to focus on people without prime? But they are. They're rolling it out to Boston, Dallas, San Francisco, among some other US metropolitan areas. Previously, you had to be a prime member so you could get food delivered from fresh, okay? And this is where things get interesting here. The company aims to make the offer standard nationwide by the end of the year and eventually include products from Whole Foods and other grosses. Delivery fees range from $7.95 to $13.95 or $4 more than prime members pay. Interesting, right? So what do you gotta do? You gotta do what? 30 to 40 orders to make your prime membership pay for itself if that's all you're using. Of course, you're probably ordering something else if you're ordering 30 or 40 grocery store orders from Amazon, but they are trying to do that to customers outside of that. Now here's the part that I found most interesting is you need to check out in multiple different checkouts for different products, which I was not aware of. So if you wanna get some King salmon fillets, okay? You're talking about organic, probably super fresh, right? Those are coming from Whole Foods. If you wanna get some shredded lettuce, which is sold by Amazon Fresh, or maybe you wanna box of Cheerios, which with other stable products are just sold simply by amazon.com cause they can ship a box of Cheerios, man, and leave it at your front door. You gotta make three different orders, which are ferry to your home in three separate deliveries. So imagine that you're ordering it basically from three different divisions of grocery within the same company. And that is a huge problem for Amazon. They have the gentleman, yeah, Hoggett, who they just talked about. This is this gentleman there. Senior Vice President for Worldwide Grocery Stores. He's the guy they brought in from Tesco. We recognize that still needs to be improved is what he says. Yeah, I would say so, man, cause I'm not ordering groceries if I gotta do three different orders. You put them all in the cart, you hit the button and that's it. So I was surprised to see that they actually, I mean, think about that, right? What does Amazon do the best process, right? The way that they are able to function. I mean, they changed the world cause they started delivering things free in two days. And that's what changed everything. I remember signing up for Amazon Prime Man probably in like 2011, 2009. I was a really early adopter because it was world changing. And at the onset of Amazon, I'll go even one step further. When they originally introduced Prime, okay? It was something like free delivery in two days. Said to myself, well, at that time, folks, I was already ordering products online, but most of the times when you ordered something online, you were paying a $10 delivery fee, maybe a $20 delivery fee sometimes for a product that you ordered online, right? And at that time, I think Amazon Prime was probably like $70. Probably $59, probably $79, I think, something like that, right? So said to myself, I gotta order something three, four times a year. If I order on Amazon as opposed to paying $20 for a delivery fee, which at that time was normal, I'll make my money back. So I signed up. The other coolest part about that is originally you could actually then pay only like $5 for an overnight. Yeah, so if you were a Prime member, you could get free two-day delivery or you could get something next day for like five bucks. Like, this is insane. I've never seen something like this. Nonetheless, they changed the world. They figured out how to do that. And still, six years after they bought Whole Foods, you have to order things in three different categories from three different basically packages that are getting delivered to your door. So that one doesn't make sense. They got a lot of money to get it done. They've been trying years to figure out how to profitably sell fresh food and it's starting to kill, starting and killing a range of initiatives. Yeah, delivery, meat and produce, it's not their business right now, logistically challenging and expensive. Amazon required a grocery order of about $115 to break even in 2010. On average, a decade later, that break even point is still 90 to 100 bucks, right? They haven't made any room at all. Company doesn't track delivery economics using a single figure because of differences in order speed and types of trips. But he says the company has made big steps. Well, there's your PR spin. Yeah, they thought they could maybe improve that. $13.7 billion for whole foods. They got 530 stores, but Walmart's got thousands, man. They have Amazon Fresh Grocery Chain. This is the one that they've been talking about. They're gonna have self-checkout. You're probably gonna be able to use your palm, et cetera, in that store. Yeah, and now they got some spending problems in the process as well. They shuttered more than 60 brick and mortar locations last year, including bookstores, potpourri, hoget pause, the grocery expansion last fall and the company at the end of the year took a $720 million write down, primarily related to its grocery business reflecting store closures and broken leases, among other things. Yeah, so they got a big task, man. They're trying to get it done, though. It'll be interesting to see how that changes. The one thing that's out there is is that they have a lot of room to catch up, man. When you look at where they are, it's remarkable, six years later, they're at 4.4%. I mean, if you bet, what would be the odds that they would still be under a 5% market share six years after they bought Whole Foods? Man, that was not what they probably bought Whole Foods for. They had bigger aspirations, to say the least. All right, folks, stay tuned. We're gonna be coming back with our man, Teddy Kegstad, and we are gonna be talking his Japanese candlestick pattern, stock and option strategies webinar. That's gonna be coming up a week from this coming Monday, August 14th. You can check it out on the front page at TFNN right now, folks. You can sign up. It's only $97. You can reserve your spot. We'll be archived. You'll be in there live for 60 minutes with Eddie, Teddy. And yeah, you can check out that. We'll talk about it. We're coming back with our man, Teddy. And it's a great day. We'll talk some forex as well. We'll talk some currencies as we got a credit counter. Stay tuned for right now. 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An investor should carefully consider a fund's investment objective, risks, charges, and expenses before investing. A fund's prospectus and summary prospectus contain this and other information about direction shares. To obtain a fund's prospectus and summary prospectus, call 866-476-7523 or visit Direction Investments.com. A fund's prospectus and summary prospectus should be read carefully before investing. An investment in the funds is subject to risk, including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, foresight fund services, LLC. This program is brought to you by Vista Gold. Traded on the NYSE American and TSX under the symbol VGZ. Welcome back, folks. We're here in the market. It's a negative territory. S&Ps right now have 35, Nasdaq 100. Accelerates a little bit on the open. We're off by 200. We got the Dow off 125, the Russell off 22 right now. We got a little bit of strength in the dollar index continuing to trade higher at 102.52. We got some higher yields today. And to talk about all of it, folks, we're gonna jump over to our man, Teddy Kegstad. We talk to Teddy every Wednesday at 40 past the hour. He writes the Outstanding Tiger Forex Report, which you can check out under the newsletter tab at TFNN, but today, folks, we're gonna talk a little bit of candlesticks. You can check it out a week from this coming Monday, August 14th, August 14th. Teddy's got a Japanese candlestick pattern, stock and options strategies webinar that he'll be hosting at four o'clock. So let's talk about it. Teddy Kegstad, good morning. Good morning, Tommy. Boy, quite a day, man. We can jump into the Fitch rating. I wanna talk about it all, but today we're announcing a webinar you got coming up a week from this coming Monday, Monday, August 14th, talking about Japanese candlesticks. I know you're looking to tie that to some stocks and options. And I know you've written a book on candlesticks, man, but for those listeners, maybe they aren't familiar. If you could talk a little bit about what that webinar that you're putting together is gonna be about on the 14th. And just kind of maybe some history, Teddy, in talking about your book or what got you into candlesticks or what you're gonna be talking about on the webinar. That'd be awesome, man. Sure, sure. So we're gonna be going over a bunch of stocks that are right now live at the time when we do the webinar that have signals that are triggered. So they could be from all different sectors and depending on the patterns that we're gonna be looking at, we're gonna go over what kind of different trading strategies you would apply. And one of the reasons that I got into Japanese candlesticks years ago was the visual representation is just so much easier and quicker. Most people started out with classical bar charting years ago when I first started doing analysis. And when you're just looking at those lines, things do stick out patterns you can see over time, but visually it's a lot harder to see. And candlesticks are very representative of a lot of things that you can see quickly and judge. So I like that as a tool for one. But also when it comes to identifying the ends of corrections during trends or inflection points where you can take profits, they're very, very helpful for that. And that's what we're gonna go over in the webinar. So for instance, let's say XYZ that day or it's a Monday webinar. So a lot of times you have patterns that evolve around the end of weeks and a lot of times on Fridays when you have big numbers, especially like we have unemployment coming up this week. So what we'll do is we'll scan to find out what stocks have different patterns that are relevant in the current marketplace. We're not just going back and saying, hey, five months ago here was a pattern. Look at how this worked out. This is what you should have done. And we'll apply different strategies. One will be like, for instance, if you're already long XYZ stock and for instance, if it's rallying and we have a sell pattern, what to do? Do you take profits or how do you manage your risk of moving forward with that long position as well as different option strategies? What would you apply? Whether they be straddles, strangles, long puts or calls and other different types of option spreads and things like that. That's awesome, man. And it is remarkable when you say it because I can't remember, as you were saying that, Teddy, the last time and I know I'm biased because I've always been in the candles following my dad and some of the technicians that he brought on, of course, to TFNN. But yeah, it just seems like that's the only way that I look at charts these days for just like you say, kind of the clarity what they represent visually. And then when you put together some of those formations on top of it and they make sense as in, some folks, if you're into trading and you're just getting into it, it's gonna be an awesome webinar folks because some of these candles, I mean, I think myself, Teddy, just some of the formations, they speak reasonably as in the candles are speaking reasonably as in there might be a formation like a bullish engulfing or something like that. And that speaks to strength. Well, it speaks to strength because what is it, right? It's a huge candle maybe that's a reversal. So you have a lot of buying and stuff like that. So it's not just formations out of nowhere. The candles are actually talking and forming kind of, and this is my opinion, but that's why I love following them, man. So folks, check it out on the front page of TFNN. It's $97. This is a standalone product. So it has nothing to do with the Tiger Forex report. It's not a recurring subscription you're signing up for. It's $97. You'll be in there live with 60 minutes with Teddy a week from Monday. It will be archived as well. I'll be in there, Teddy. I look forward to it, man. I know we'll talk about it next week as well. We'll probably get you on the air a couple of times as we lead up to that Monday webinar. And now let's get into the market. So what do you think of the action with the credit downgrade? Not too shocking if you've been following the politics of paying our bills, but pretty interesting it happens and we get a little market reaction. What's your take? Well, right now I like the way the market's reacting. I think that that is probably back news. I think what you really need to pay attention to are the economic numbers that are coming out tomorrow as well as Friday. And you have globally a lot of big things going on. So right now you have a lot of dollar strength and I think you can attribute a lot of that to the rally in oil as well as also obviously the rally in yields. I mean, the treasury bonds and the tenure notes are now near their October lows of last year. That 30 year I think is four and a half handles away in the 10 years. I don't think it's like somewhere around that too from its lows. And remember that 10 months ago, how many rate hikes have we had since 10 months ago? And that's where the pricing was. So I think that especially since we have this tenant leniency right now on the Fed being still leaning towards being hawkishness, that pressure is gonna be there for a little bit to come yet. Now I'd be cautious moving into next week though. So I think what you have to watch out for once again are these numbers that are coming out globally and let me give you the breakdown. So we have CPI for the Swiss tomorrow which is definitely gonna be something to look at because you had the dollar Swiss in a very strong rally right now which is a corrective rally. I want people to know this is a correction. It's not a bullish market right now for that one. Then you had the Bank of England with the rate decision coming out tomorrow. Okay, so that is something that you have to remember that right now the British pound is one of the biggest currencies in the Dixon to Dollar Index. That one is right now trending lower. It's in a corrective break. If the Bank of England does react tomorrow which I most likely will if it doesn't raise rates they're probably gonna do some sort of quantitative adjustment that will be hawkish. Okay, so no matter what and either synthetically or directly they're going to be raising rates I would assume. I think that's pretty much on the table. And then we have jobless claims for us in the US. If we see a downtick or a flat number for the jobless claims that means that the Fed is gonna remain hawkish. We need to see an uptick in unemployment claims. And then unemployment on Friday is also the big number for us. And we also have ISM and stuff like that. So we have a lot of big economic numbers. These are all bond numbers. They're all dollar numbers. And remember when it comes to unemployment we used to call it unenjoyment on the floor because when you're trending so strong into a number such as unemployment it's the end of the week. Sometimes it's near the end of the month and what have you. You tend to hit highs and lows around that area. Am I saying trying to pick a bottom or a top tomorrow? No, or Friday? Absolutely not. But we're coming into a zone where this dollar strength we may see a spike and see a profit taking move and is what I'm saying. Okay, and that's something I think we really need to be paying attention to when it comes to these markets. And if anyone that read the Tiger Forex report this week we've hit almost all of our target zones for these trends that we've been working with right now these corrections. They're coming in, they're coinciding now with these numbers. So for us to have a pivot point and see a turn in these markets for at least a short term for three to five trading sessions at least I think you should be aware of and be paying attention for. Yeah, I was jumping through the charts as you were talking about it. Some pretty distinct bounces from the previous trends and boy, they are trending man. And people talk about it Teddy in general, right? Forex currencies, in your opinion do currencies like trend a little more than the market even? I tell you, can you hang with us? Okay, listen, can you hang with us for the break? We'll finish this conversation, folks. We'll come back with Teddy. Don't forget, head on over to the front page. He's got his candlestick stock and options webinar coming up a week from next Monday and we'll be back with Teddy, stay tuned. TFNN has just launched their new trading room, The Tiger's Den, hosted at Discord. 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Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Welcome back, folks. We have markets pretty much where we kicked off the program in negative territory. You've seen a little bit of a slide in the NASDAQ 100 as we're now off almost 1.5% at 15,584. You got the S&Ps off about 9-10%. We're talking to our man, Teddy Kegstad and we're talking a little bit of currencies. We're talking some candlesticks. Don't forget about his webinar a week from this coming Monday, August 14th. That'll be 60 minutes live. And so, Teddy, we were talking about, because people often hear it, right? The currencies, they trend. Why is that? Is it just the longer-term perspectives that take place when you talk about yields, you talk about bonds, or why is that the currencies tend to trend more than equities? Do you know? Well, I think one of the main things is that currencies are not, they don't have to deal with a lot of the noise that most markets do. Take a stock, for instance. How much news is there about a stock that even comes out on a daily basis? And how much is it that you really have to filter and figure out? But when it comes to currencies, it's a very fundamental market to begin with. It goes back to, that's why I always say, like now you really gotta pay attention to the big economic numbers because those are the factors that drive those markets. Everything else, like opinions and things like that, they're just, that noise doesn't overwhelm the weight of those numbers. So especially like, for instance, we know the Fed is very hawkish. We know most central banks are very hawkish. So we know where to lean on those currencies during certain times, things like that. We know that the Fed right now is really hung up on unemployment. So how that number moves will dictate what'll happen with the currencies because it's gonna have an interest rate component. Interest rates are a fundamental part of what drives the pricing for any type of dollar, where it's US dollar, pound, whatever, what have you. So, and the thing is currencies, unlike most markets, trend only 30%, maybe 35% of the time. 70% of the time they're just going sideways and it's just noise. Currencies are the complete opposite. They trend usually for the most parts, 70 to 75% of the time. So that's a huge thing for a trader. If you're a swing trader or a trend trader, wear your odds of making money when there's a trend and that has the most trends. And boy, we saw that play out like you were talking about as these central banks are on their mission. Teddy, I appreciate the time, man. We'll talk to you next Wednesday. Have a Greek, gray week and we'll talk to you then, man. Thanks, Tommy.