 The following is a presentation of TFNN. The morning markets kickoff with your host, Tommy O'Brien. Good morning, everybody. I'm Tommy O'Brien, coming to you live from TFNN Wednesday morning, just after 9 AM Eastern time. Are we going to get a vote today in the house? I think we are. We'll see how it goes. All expectations are, we'll pass. But as we know, anything can happen when it comes to politics, especially where we are right now. Markets this morning picking things up in negative territory. A little bit of an acceleration yesterday. We extend that acceleration to lower prices below $4,200. We're making pre-market session lows as we speak right now. $41.94, negative by about half a percent in the S&Ps. NASDAQ 100, down about half a percent as well, $14,324. You've got the Dow off about 3 tenths percent, off 121 points just under $33,000. $32,965 in the Russell, off by 8 points at $17.62. How about crude? We're going to be talking to our man, Teddy Kegstad. 40 past the hour. We always talk to some crude, man. Can't wait to get his tag. Crude, almost got a 66 handle this morning. Yeah, we were just trading at a 73 handle. Back things up about 36 hours ago this morning. 67.72, the price of crude. Gold contract, up by about $3 at 1980. We got notes and bonds. A little bit of higher price and lower yield, although we get a little bit of a drop off since about 830. We're still positive by 7 ticks in the 10 year right now. We're positive by 9 ticks in the 30 year right now. You jump over to the dollar index, DXY. There's some volatility for you, up to 104.63. We got some China data overnight. China looks to be slowing down, man. They're dealing with another outbreak of COVID. Nonetheless, that's not the only factor they're dealing with, man, as they have a slowing economy, slowing growth. The days of China growing at 6, 7, 10% gone, at least for the foreseeable future. Yeah, not quite the case. So that's going to weigh on things. World's second biggest economy, not growing at the rate that they potentially thought it would grow at. So where do we go from here? Back to the S&Ps right now. You want to see something interesting, folks? I was looking at this last night, okay? Check this out, right? You take a look at the S&Ps. Now, there's been a lot of talk of easy money, right? 0% interest rates, quantitative easing, okay? You've heard JPMorgan, excuse me, you've heard Jamie Dimon, almost synonymous, right? JPMorgan, Jamie Dimon, synonymous. Jamie Dimon has talked about the quantitative tightening is one of the things that he's most worried about, okay? Everything going on. Zero interest rates, free money. We had negative interest rates for the while. We'll have to go back and get a clip of our man, Larry Pezzavento, saying over and over and over and over. Doesn't work that way, folks, okay? Not sure what's going on, but you don't pay somebody else to hold your money. That's not how it works. We had it for a while. Point being, things might have gotten a little bit out of whack in terms of how exuberant the market got. And when you think about something, right? Trajectory of the market on a longer term basis, okay? And this is just taking back the S&P. You can do this on a lot of different occasions, okay? But if you just cherry pick where we went in terms of going back as far as I can on the S&P futures to 1983, okay? And then you cherry pick the first bubble high we got in 2000, okay? Now that is taking a trajectory on my chart. And this is food for thought and nothing else, folks, okay? Food for thought and nothing else. But it shows you how extraordinary the run has been to the upside. And maybe we need a little bit of recoil to the downside, okay? I'm giving you the bearish take. I get it. But boy, you don't have runs, folks, where you go from 650 to 5,000 almost in the S&P over a period of what? 10 to 12 years. And you're talking about a pullback, okay? For some context here, because context is important, barely to the 236. It's not usually how things go, okay? Now, if you take the cherry pick high of 2000, you build a trend line, where do we come into? Well, we come into where we were coming into 2018. We were just above that level, coming into COVID. You accelerated above that, you almost got back down to that, okay? We keep your eye on it because that's almost a rosy scenario in terms of you're talking about growth. I mean, imagine this trajectory line, if you told me in 2009, okay? When we were making those at 665, that hey, the trend line here has the S&P at about 2200, okay? Maybe we have the potential to accelerate high. I said 2200, man. You're talking about almost four times the value of where the stock market's at right now. It's gonna take forever for this market to catch back up with that trend line because it's gonna keep going up. You're telling me the market's gonna have to trade to what, from 600 to almost 3,000 over a period of the next 10 years or something like that to hit that trend line? And that's what it did, folks. And then what did it do? It traded 2,000 points above that. Anyway, I was playing with that last night on the charts, man, keep your eye on it because I mean, the world is not ending if we come back to this trend line, folks. And this trend line is sitting at about 3,300, 3,200. Again, food for thought, okay? Not even technical analysis and I'm paying attention but I found that interesting last night that even on a longer term basis where you accelerated trend line from the cherry picked high of the 2,000 bubble, okay? That's where we chopped around during COVID as well. And then we get all the way above it, man. So don't think the world's ending there. But boy, we are dealing with some lofty levels when you talk about tech companies, man. And yeah, I mean, you do something like that in a video. You only go back to the year 1999 when it was at 30 cents let alone the run really began 2019, right? When the world took off, when the video is trading at $29, we're trading at 394, you give them back some of it, man. I was talking about in my program yesterday in the video right now folks, trading at 25 times forward sales, not earnings, sales. Every single dollar they take in in revenue, their company is trading 25 times forward sales, not revenue. Microsoft is pushing like 12 or 13 times sales. When you do the numbers on Microsoft, you're talking about a much larger number in revenue versus Nvidia and you're talking about 12 to 13 times that you are at sales. I mean, if you understand how a company works folks, many times, yeah, these companies, the tech companies, they got huge margins to say the least, okay? But be careful because you start hearing these multiples, man. And our man Kevin Hinks talks about it all the time. We're gonna talk to him coming up after the first break, right? Competition, man. Competition, put it lightly. Nvidia, they're in a class of their own Microsoft. You could say in a class of their own, but they got about seven stocks they're competing right now and they all are getting pretty lofty levels. You take a look at Apple on a longer term basis. Let's pull it back. You gotta go five year weeklies to get the full COVID action now. Microsoft comes into COVID at 80 bucks, dives down to 57. We just traded up to 178.99 folks, which is where Apple was trading at in the final week of 2021. So you got Apple trading their all-time highs, okay? You got Microsoft pushing basically all-time highs. Google's in a different class. They might be losing their monopoly. Google, man. You want a short candidate, okay? You think this market's gonna pull back? Google might be right up to the 618. And Google is gonna be a tremendous player in AI folks. The amount of money they're spending is going to matter when it comes time for these companies to really start competing. But I think the writing's on the wall that they're losing their monopoly, man. I think about it all the time myself for my own personal use when I'm talking about search items and stuff like that. There's a number of things now when I go to search the internet that I say to myself, maybe I should go to chat GPT for that. Think about the change that has occurred when for 20 years, you only went to one place. You went to Google and that's changed, man. And Google controls 90% of the search on the internet they have for 20 plus years and that is gone. So be careful on Google. I was checking out this chart over the weekend right to the 618 of that pullback, okay? Right to the 618. We got a lot of volume at these lows, man. So be careful on Google. This morning, we've got a little debt limit in focus. We got jobs coming up in 48 hours. On Friday, that's moving as well. Market trading down 19 points at 41.96. Stay tuned, folks. We're coming back. Talk to No Man, Kevin Hanks. We'll be right back. If you're looking for potential trading setups in the stock market, then Rocket Equities and Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities and Options Report today with a 30-day money-back guarantee so you have nothing to risk. For all the details and to start your subscription today, visit the front page of TFNN.com. TFNN, educating investors. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. 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There's no catch 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 have the S&P down about 19 points right now. That's down about half a percent. NASDAQ 100 down about 410 percent trading 14,336. Let's jump over to our man, Kevin Hinks. Every trading day folks, 12 noon Eastern time, right here on Tiger TV, the TD Ameritrade Network with Fast Market, your host Kevin Hinks, Tom White, the whole team. Excuse me, they got a great lineup of guests folks. They walk you through hypothetical trade setups. We got some great companies coming out with earnings tonight after the bell. We got a debt limit vote today. We got jobs numbers on Friday. We got a lot happening. Kevin Hinks, good morning. Good morning, Tommy O'Brien. Yeah, it looks like as the debt ceiling moves along its path, the market has started to pay attention to inflation again and Fed speakers and the fact that there's still now above a 60 percent. Yesterday was 66 percent. It's moving back and forth in the 60s. Chance that in 14 days, they're gonna raise interest rates again, Tommy. And it looks like it's a little late, but it looks like the markets are starting to pay attention to that suddenly. I believe that the economic data that the Fed speakers have been crying out is too strong, inflation's not coming down, and they need to stay on it. So there'll be more Fed speakers today, Susan Collins, Michelle Bowman, Phillip Jefferson, Patrick Harker all speaking today. And I expect that rhetoric to remain consistent that inflation, as you and I have been talking about for a couple of weeks now, Tommy, it has stopped coming down. And in many cases like wages and year over year PCE has gone back up. So yeah, the Fed's got a little problem here. And even though the market, it seems, has had their attention on the debt ceiling, suddenly and very quietly, the inflation and interest rates in the US dollar have crept higher. And now they're starting to deal with that. So at least to start the day, futures a little softer, Tommy. Yeah, I mean, you guys do such a great job, Kevin, on the program Fast Market. I was listening to the conversation you were talking about NVIDIA and AMD yesterday, but I've also heard, Jim, in last week, when we got a little bit of that sell off from, I got a chart of the S&P futures up here and the thinkers from platform traded from about 4220 down to 4120 over the Monday, Tuesday, Wednesday, last week. And I remember watching your program saying, we're sitting at 4,200, man. If you were thinking about lighting up, that's not a bad spot with everything we have going on. As traders, Kevin, you just said it so well, man. It's pretty much up in the air, 60%. It's pretty close to 50% and you think about the market. And we can say we know we're coming to an end at some point, but it seems like that point keeps getting pushed off a little bit further in the past as inflation is just a little bit stickier than maybe some anticipated. So as traders, Kevin, you approach some pretty important data. We got the jobs number on Friday. That's gonna be an important one, especially if we get a miss in one way or the other. And we have that rate hike potentially looming that was gonna be a pause. Now it's definitely a live meeting. As a trader and you approach those types of, I guess, points in the market where you're gonna get economic data, economic, whether it's the Fed decision, whether it's the jobs, how do you approach those, Kevin? It's a little bit of a big picture question. But for instance, the Fed, we're gonna get a decision two weeks from today. It's gonna be in the middle of the market at 2, 2.30 p.m. Eastern time. As a trader, are you trying to anticipate that, Kevin? Are you, you know, how do you approach that? I just love, you get such an experience, man. And I find it so fascinating that we're so up in the air, 60%. I mean, that's pretty close to 50. And I think the market really could have a reaction. Do you try and peg that yourself? Do you just try and manage your risks? Do you try and figure out your own opinion and then pick the best strategy? How are you gonna approach two weeks from today, man? Where it seems like things are gonna be kind of up in the air. Well, Tommy, as a trader, as someone who looks at the market on a daily and hourly basis, what you try to do is see the storm before the clouds come, right? And look on the horizon. Is there anything that may cause me to go either bullish or bearish, right? It could be either direction. And that's what I think you're seeing right now. And maybe do you take risk off the table or take, you know, put deltas on against your portfolio or do aggressive hedging or mild hedging. That's the problem. When do you put your offense on the field? When do you put your defense on the field? And with the run this market has had and the stubbornness of inflation and what the Fed is saying, this may be a time to put some of your defense on the field or at least, Tommy, take some of your offense off. Could there be storm clouds? Yeah, of course there could be, right? And so you've always got to be ready for some things around the calendar. And of course, as you know, Tommy, some things are not on the calendar. And so you've got to be ready in some way shape or form for both of those. And so if you're looking at your account, looking at your portfolio, understanding your risk, you know, using the tools that are out there like covered calls, like beta waiting or portfolio and putting deltas against your overall risk, there's several ways to do it. It's just a matter of how much you want to dig into that, you know, risk averse training or risk adjustment. So yeah, there's lots of things you can do. It's just a matter of how much your education, how much you want to do. That's what we try to provide. We'll give someone as much education as they desire in terms of looking at their portfolio, Tommy. I know it's a big picture question, man, not an easy one. I appreciate you taking the time to answer it. And that's why I tell you folks, I mean, if you don't trade active options and you're not looking to, you know, buy advanced multi-strategy, check out the program because these strategies, you can use them to protect yourself, like Kevin was just talking about, whether you're talking about just protecting your equity portfolio at a time when, because I love the conversation last week, Kevin, when you're saying, you know, 4,200, if you think about lighting it up, it's just, you know, you look at the NASDAQ my 100, my goodness, it just keeps going up, Kevin. We're approaching what? 27, 30%. I don't even know where we are right now, those stocks. We've pulled back from the highs yesterday. But I also love the comment you made yesterday talking about NVIDIA and AMD. Think you said something like, Kevin, are they great stocks? Are they going to be around? Of course they are. Does that mean the stock price is going to go up? Of course it doesn't because folks, we are at some lofty levels right now, man. I heard yesterday, Kevin, I might have mentioned NVIDIA. I think there are 25 times forward sales, not earnings, sales, which is just a remarkable number when you think about how you put a price on a company that you got to take in revenue for 25 years and every dollar goes to the bottom line and that's where you get a market cap. Now, of course they're going to grow tremendously over 25 years, but still some pretty lofty numbers. With that in mind, Kevin, as we talked about yesterday, we get some great companies coming up after the bell tonight with earnings, with everything else going on. What are you guys talking about on Fast Market at 12 today, man? Easy show to plan today, Tommy, as you know with the bulk of the earnings for this week, concentrated today and tomorrow. So we'll trade Salesforce that has earnings coming out. We'll trade Chewy, like fully old do presentation on Chewy, the online pet food delivery system and then CrowdStrike in the final segment, George Chilis and the group will look at CrowdStrike. So three really good names all coming out with earnings either after the bell today or before the open tomorrow, Tommy. So all tradeable today, three good ones today. Yeah, pretty cool. I was jumping around on the thinkorswim platform as you were saying that on a day where we got right across the board, man, we got CrowdStrike up by 50 cents to a dollar in the pre-market and Salesforce higher as well ahead of their numbers. So the market a little optimistic on a negative day for those two equities and Chewy always in the press as well. Kevin, I appreciate it, man, on a busy morning. I look forward to the program at 12 o'clock today and we'll talk to you tomorrow, man. Have a great day, Tommy. Thanks for having me out. Always a pleasure. Folks, check it out. You heard it, okay? I always tell you, if you don't trade options actively, you should understand them because it will allow you to be a better trader when it comes to equities and what Kevin just talked about, okay? Delta's, right? Managing your risk, hedging, advanced hedging, aggressive hedging. Please check out the program at 12 o'clock. It's a great week to do it, man. We got the debt ceiling. We got earnings. We got jobs numbers on Friday. We got a Fed meeting in two weeks. Stay tuned, folks. We'll come back for the open. 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. 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TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN. Educating investors. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks. We've got markets open and you open right near pre-market session. Low is 41.94 in the S&Ps. You get the NASDAQ 100 down to about 70 points right now. That's about half a percent. You get the DAO off about four tenths percent right now. 32,947. Let's jump around. Call them the Magnificent Seven. We need a new name for the Fang stocks, man, because they're out and we'll call it. We got, I'm gonna think of a name for these Magnificent Seven. We're gonna talk about it soon. But let's jump around. Amazon shares, quite the acceleration on Friday with AI in focus. They're hanging onto a lot of those gains. Basically, flat for Amazon shares right now. Apple shares open the day up about two tenths. A little bit of a lift on the open there. Microsoft shares up about two tenths as well. NVIDIA shares down a percent, 397. Let's see, they're hanging onto the trillion dollar mark. They're pretty close. Where are they? Just under that level now. 981 billion dollars for NVIDIA. Meta down about one percent right now for Meta shares up to almost 270 on yesterday. We're down to 260 right now for Meta. I think Tesla is the one that rounds that out. Tesla gets a little bit of a bid up about three tenths percent. Yeah, that is where I got it. Okay, I got it from the Yahoo article. They're magnificent seven. No wonder it's in my head. We're gonna have to come up with a better name than that then. Check out some of these numbers, folks, in terms of what we're talking about here, okay? Even the NASDAQ 100, okay? Even the NASDAQ 100. You're talking about four trillion dollars in gains in market cap year to date in the NASDAQ 100, okay? And of that, those seven account for 84% of that number, yeah, 84%. The bottom 93 companies in the NASDAQ 100, okay? We're not talking about the S&P. We're not talking about the Dow, okay? You don't have regional banks in here towing things down. You're talking about the NASDAQ 100. The bottom 93 stocks have only accounted for 15.9% of the gain, which is basically less than Apple, Microsoft, and NVIDIA alone for market cap. I mean, look at that pie, man. It is all those companies. You're talking about Apple, Microsoft, NVIDIA, Google. I didn't get to. We got to pull up Google, Amazon, Meta, and Tesla. Pretty remarkable, man. The concentration that you are seeing in some of those top gainers where they are, and we're at some pretty lofty levels. So when I hear things like NVIDIA, 25 times sales, folks, would you ever buy a company for 25 times its sales? I don't know. I don't know if I'd do that. You can, and it doesn't mean you can't make money, okay? But be careful when you're buying a company for that type of a lofty level. NVIDIA shares down about a percent today. Still about $100 above where it was trading at a week ago, though, okay? Still about $100 above where it was trading at just a week ago on NVIDIA. All right, let's jump around to some of the headlines that we got going on today. Kevin was talking about it. A little bit of a fed speak day as we got Cleveland president, Loretta Mester. Now she is not a voting member. It is important to differentiate when you get these types of wordings in terms of whether they're voting or not. Says there's no reason to pause the US rate hikes, okay? I don't really see a compelling reason to pause, meaning wait until you get more evidence to decide what to do. I would see more of a compelling case for bringing rates up and then holding for a while until you get less uncertain about where the economy's going, okay? And what I really wanted to get to is this chart right here. This is all you need, folks. Pay attention to this chart. Keep it in your head. This is core PCE. This is the fed's preferred inflation gauge, okay? Look at this chart and think about, does this chart give you the confidence to say we're on our way back to 2%? Of course it doesn't, okay? Of course it doesn't. Does that mean that we're not on our way back to 2%? Of course it doesn't. We could be on the way back there. There could be some serious lags. We could pause and we could get there, but that involves some hope, okay? That involves some hope because if I gave you this chart and I said to you, write me a thousand word essay on why this chart illustrates that inflation is on its way back to 2%. I think you'd look at me like I have three eyes and I was losing my mind, because I would be, because this chart does not illustrate that we're on our way back to 2%, folks, okay? Change in inflation adjusted, personal consumption, month over month, ticking up, right? As Kevin was saying, change in core personal consumption expenditures, price index year over year, ticking up, and not even ticking up, we are stuck at 4% to 5% right now. You were under 5% by what is that? One, two, three, four, five, six, yeah, a year ago. We were under 5% a year ago and we're at 4.7 right now. Be careful, man, okay? We haven't had this come about in what? 40 plus years and somehow everybody thinks that they know how this thing works. I don't know how it works. Do you know how it works? Well, we all got opinions, okay? But I don't know how it works. And I'm open to the idea that things are gonna happen that we're not aware of how they're gonna happen. And inflation has shocked everybody how persistent it has been. That's the right word I was looking for, okay? How persistent inflation has been. Don't think that it's just gonna stop all of a sudden, folks, okay? Companies have cover, man. They got cover to raise their prices and I don't see them stopping anytime soon unless they have to and they don't have to yet. So why would you, right? It's as simple as that. But boy, you look at that chart, man, and you tell me that they're gonna come out two weeks from today and say that we're on the way back to 2%. We're confident we are. We're gonna stop hiking and see what happens. The risks far outweigh the rewards if you let inflation persist. And if it ever roars its head back up, it's a lot more difficult to get it under control. So you have to consider that. Chairman Powell's aware of this data, okay? And Chairman Powell's aware that he's gonna be in the history books, okay? His name is gonna be in the history books. It's gonna be tied to the COVID pandemic and the generational inflation that it sued. And the end of that paragraph, the end of that chapter, which is probably a better word, wording, hasn't been written yet. And what's he wanted to say? Does he wanted to say that he aired on the side that they got inflation under control and potentially caused a little bit more harm than was necessary and then they pulled back hard? Or does he want the chapter to be written that they allowed inflation to rage and that he didn't have the gall to do what was necessary and get inflation under control? I think it's a simple one, man. And I think you gotta air on the side that they are gonna be sure that inflation is under control. And I can't imagine you're looking at charts like that and you could be that confident, okay? I think they know that they're approaching the level because we're at such lofty levels, okay? Maybe we get one more, maybe we start to see it. The economic data is gonna be important. We get the jobs number on Friday. They're looking for a number of about 200,000 jobs added. That's not gonna squash the economy, folks. You can't add 200,000 plus jobs every single month with unemployment at around 3.5% with wages going up. 7% the same job, 14% if you're changing jobs and somehow that's gonna quell generational inflation. I know I'm harping up the tree. I know we've heard it all before. But when I see charts like that, folks, you could spend a whole hour, right? Talking about how that happens. Now, Loretta Mester, she is not a voting member. She's a member of the FOMC, okay? So she matters. Her voice is gonna be heard in that discussion. But nonetheless, we'll see where we go from there. We're getting a little fed speak to kick things off. All right, what else we got? How about cars? Advanced auto parts. Yeah, not so much. This thing's been like a one-way ticket to higher prices, but that not happening today, man. Oh, no, that's Apple, excuse me. AAP, come on. Jeez, AAP. You know what, my brain, I can't type AAP without typing the L afterwards. Isn't that funny? I said it three times, my brain. There's advanced auto parts for you. Down 31%, oh no, yeah, not so much, man. That is remarkable. Look at this. Oh, be careful, man. You just broke out of that channel line and that was a downtrend channel already. Advanced auto parts down 31%. Stay tuned, folks. We're coming back. We'll talk to our man, Teddy Kegstad. Teddy Kegstad, we'll be right back. 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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He puts out updates throughout the week when warranted. You can check it out under the newsletter tab at TFNN. Teddy Kegstad, interesting day, always Wednesday. Seems like we got some action going on. Good morning. Good morning, good morning. We have a lot of holiday reaction going on here from the, you know, we have a four day work week this week. I love it. We need four day work weeks more often, man. I can dig those three day weekends. Yeah, where do you wanna kick things off, Teddy? Interesting, we got so much going on in terms of it seems like we're just barely over the cusp of the debt deal, it seems. We'll see how today goes at least. But we're two weeks off from a Fed meeting, man. We got inflation raging. We got some Fed speak going on out there and we got a live meeting, man, where somehow we're now at 60% that we're gonna get another hike. Where do you wanna start things off? Well, I definitely, you know, where I stand on the hiking thing, we're gonna be hiking for the next six months. So, but as far as if you look at what happened over some Friday up until yesterday, especially in today with the 30 year bond market and the 10 year, you know, it's showing that we've had a nice little bounce pullback in yields, which is normal considering we've had an over a nine handle drop in the past just over a month, if you will. You know, so I think right now you're seeing a correction there and it's probably gonna make the dollars stumble a little bit over the next couple of days if the yields stay low like they are right now. You know, and we're heading into a Fed meeting. So this is kind of like the, you know, right now it's the head fake going the opposite direction before they pull the trigger. You know, so I think that's why you're seeing the dollar index kind of stall on resistance. We had a nice, you know, trade on Friday before the holiday weekend. And then we basically had, it was basically unchanged on Friday. So, and then we have, you know, now what's happened over the, you know, session so far yesterday into today. And that would be used caution with this market right now when it comes to dollar index. So because you have some of your majors that are acting, you know, like the yen, for instance, I would be very cautious trying to fade that bull right now. Even the dollar Swiss, which is, you know, overall it's a long-term bear versus, you know, the dollar or bull versus the dollar. But right now it's having a nice bearish retracement. So I think you're gonna see a lot of action to that upside right now. I think the Euro right now is gonna be really skittish over the next week or so and same with the pound also. So be very careful with those two majors. Yeah, I was jumping around as you were doing that, of course, in the end, man, that's quite a chart. You pull up the Euro, it's been quite a pullback from 111 almost to 106 and I was a 107, four basis points. I was, I read your newsletter, of course, every Monday, Teddy, and I was checking out the dollar index, which I know you've given us quite an education breaking down the individual pairings and what's going on in those. And then of course, the dollar's so critical with the Euro and so forth. But I loved how you had in there, a dragon doji up there recently. Was that Friday's action and talking about a bullish signal? Could you just talk a little bit about that and even, you know what, I'm gonna pull it over, folks. Check out the Tiger Forex report, folks. This is the chart he's gotten here on the issue that came out on Monday. Could you just talk a little bit about that? Cause I love that chart. I love how you have the correction zones of where we're looking at on each one. And I know you are into candlesticks, which so many of our listeners love. And maybe just talking a little bit that about the critical swing high. I've got the chart up here, Teddy, from the newsletter in terms of what you're talking about for that dollar index. Okay, that's a great point to bring up. You know, when I was doing the newsletters for this week, I was looking at how the dollar index settled on Friday. And that particular pattern, typically when you have such a long range and you have basically the same opening and close, normally you would think that that's a lot of indecision when your opening and close is the same. And that typically is the case. But when you have a doji like this, where it has a very long leg to the downside and that much of a head wick above the opening and close prices, that typically means it's very bullish. And especially when you come on top of a very long trend, you know, like it has, it's pretty steep going into, you know, Friday's trade and the close of Friday. So when I was looking at it, I was looking at like the, you know, the Euro and the pound and the end. And you can see we've been talking about this divergence that's been going on in the currencies, especially amongst the majors. And, you know, normally you would think when you have a signal like that on Friday, especially coming into a Fed meeting, we've probably seen some sideways action and we very well may, you know. But I think what you're seeing here is that the wherewithal, if you will, of the bulls is that no matter how hard you wanna hit this market, it wants to seek higher highs right now, you know. So I'm not saying that the dollar index is a raging bull, but you can see how it reacted yesterday and how it's reacting today. If it was pausing and wanted to have a little bit of a short-term correction, we should be leaning on the offer, especially going in from yesterday afternoon into today. And that's not the case. And if you look at how like it's panning out with some of those other major crosses, I think that's showing you how the dollar index right now is, it really, right now, it's basically, it hasn't plateaued. What it's doing is it's found that nice little area where it's gonna, once it breaches through that, it's gonna explode through it again. And I think that's what we're probably gonna see. Now, because the third year and the 10 year have pulled back, meaning yields going down, that's kind of restricting the rally on the dollar index. Now, if all of a sudden you see an offer in the 30 year and 10 year, if it starts trading back down to 126 even in the 30 year below that price, then you're gonna see the dollar index making new move highs. And I think that's something you really wanna watch moving forward over the next week or so as a move into the Fed meeting. Nice, nice. And how about crude, man? Quite the pullback. We got going on in crude right now the last couple of days. We got a 68-51 price point. We're seeing volatility this morning in both directions, man. What do you think of the crude market right now? I think that's because of two things. One is we've had a drastic reduction in yields from Friday into today's trading. I mean, a three-basis handle move in the Treasury bonds is a big move over a holiday weekend with really no significant numbers to make that happen. So the cost to carry over for all commodities is reduced greatly over to just Friday to today. So in the marketplace, I think that's where you're getting some of the reaction in crude. But I think you're also starting to see the reality of the BRICS trade that's going on. A lot of our allies now are getting around the sanctions and guess what? A lot of US-exported oil is not gonna go and find its destination anymore because places that are buying from the US, well, guess what? Now they're gonna get it from Russia and the Middle East through back office deals. Even Japan is now making deals with them. So I think that you're gonna start to see possibly as BRICS continues to grow, that may be the one thing that keeps oil from really rallying because we're gonna have two separate oil markets. The global world is buying oil from the world producers, but they're not buying it from us. And that's gonna become a very big deal. So I think if that really is the trade that's going on, oil may stay stable. Plus you gotta look at the transports. When the transports get hit, oil gets hit. So that's another thing. So I think as long as the transports are on edge and especially as these BRICS deals continue to grow, I mean, we know Japan just did a big deal with Russia through the back door. So that's a bit, they're one of our biggest allies. So if that continues, you're gonna see the demand for US oil is gonna drop even though the demand physically doesn't change globally, whether it's in the US or globally, anywhere else, the way it's being moved and the production, especially for the US, we've cut production over the last two years, guess what, now no one's gonna buy it. They're gonna buy it from the rest of the globe. That's a big problem, especially for the oil markets. And I think that's might be something that we're starting to see. You heard it here first. That's right, baby. We like it. Folks, head on over to the front page of TFNN, hit the newsletter tab, subscribe to Ted's newsletter. I just gave you a glimpse of the report he put out Monday. Outstanding information, what you also get in there is a couple of archived webinars that Ted, he did. Just did one last month, folks, talking about the second quarter. He did one back there, talking about the fundamentals in October of last year. You get both of those as well. Check it out, Teddy. I appreciate the time, man, as always. I hope all is well, man. And we'll talk to you next week, okay? Take care. See you next week. Take care, Teddy. Folks, we'll be right back for the end of the show. Stay tuned. TFNN has just launched their new trading room, the Tiger's Den, posted at Discord. TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours. And now they are expanding their reach with the Tiger's Den, available to all Tigers and Tigresses for just $1 for the year. There's no cash or added costs when you join our community of traders. 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For daily market overviews that give you direction on the key indices, selective stocks and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns. Finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com, educating investors. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from veteran day trader Larry Pesavento on stocks you need to pay attention to and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com, educating investors. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks. We got the S&P right now jumping around. Let me pull my chart back up there. You're talking about the S&P down about 21 points. We're jumping around in both directions right now in this market. There's my chart back up there for you. We'll zoom in on the action, 41.94. We were just above 4200 in the last 10 minutes or so. We're back near the lows of the session at 41.95. And yeah, I was jumping around to, excuse me, advanced auto parts, who's down with their numbers 31%. I was thinking about AutoZone. Thanks to our man Duffy and the Den, which has been on a tear in a one-way direction, man. There's your chart for AutoZone, right? My goodness, from the COVID-19 to 750, you came into COVID-19 at about 1100. This thing never went down until it did. Two weeks ago, this is a weekly chart. Okay, you top out at 2750. And just like that, this stock gave up 400 bucks. Now, you had their numbers gap and lower, okay? AutoZone, their numbers on May 23rd. And even with that, which gave you a little advance in terms of advanced auto parts, okay? But even that, advanced auto parts still down 32%, even though they got a little bit of a heads up with AutoZone, but be careful. Even my dad was texting me, right? Could be indicative of things in the economy, man, because this thing hasn't even slowed down forever. AutoZone, and guess what? They're slowing down now. And advanced auto parts is, they cut their full-year profit outlook, now expects earnings six to 650. Guess what they were supposed to make? 10 to 11 bucks. This is what you should be worried about, folks. Things like that. Oh, we're gonna make 10 to $11? No, check that. We're gonna cut those earnings in half, six to 650. Folks, companies are valued off of their earnings. If you were gonna make 11 bucks and now you're gonna make six, your company's worth basically almost half of what it was before that staggering revisions when you look at that type of numbers, okay? So be careful out there. These are the types of things that could really throw a wrench in this market. We'll see where we go from there, man. It's a wild one and we're back to the S&P right now as we are off 21 points. We got a lot of room and keep your eye on those inflation numbers, folks, because I imagine we got a very live meaning coming up two weeks from today. And what usually happens is the market is forward-looking. So don't expect it to wait for that meaning for two weeks from right now. If it figures out, things are a little bit more dire than we anticipate. Yeah, you might see that go on right now. Thanks so much for starting your day with me, folks. I appreciate it, as always. Stay tuned, Basil Chapman's coming up next. I'll talk to you tomorrow. Have a great one, folks.