 Good Friday morning everybody I'm Tommy O'Brien coming to you live from TFNN 906 a.m. Friday morning we just got the jobs number we'll get into that in a moment markets kicking things off in negative territory quite the day yesterday as markets accelerate higher you're looking at an S&P we dive down about 50 points from where we were pre-market yesterday to the intraday low of about 4072 you then have the market trade up over 100 points to above 4180 since then it's been a slow drift to negative prices we got some volatility coming off that jobs number we'll get into in a moment we just bounced to a 50% of that entire acceleration from last night you zoom in on the action just this morning volatility we initially spiked higher to 4160 and then just like that the S&P's give up almost 30 points were negative by 36 on the session right now that's about 910% you have the NASDAQ leading the way off 1.25% right now we're talking about a yield of 2.975% on the tenure we'll jump over to the chart in a moment the Dow right now negative by 200 you see all the market slightly under where it was they're calling it like a sweet spot Goldilocks ish was the term they were using on Bloomberg when I was checking out a moment ago getting the numbers and if it's a Goldilocks type number then why can the market barely move positive or anything we're still adding 390,000 jobs let's get into the headline right now why not payrolls rising 390,000 in May better than expected there's a lot in this number I was chatting this morning just with some friends on a group chat after the number saying no matter what numbers come out right now if they're this nuanced there's almost something for everybody in here and that doesn't mean that everybody's going to be right but you can interpret this in many ways and man you're still adding 400,000 jobs folks we just saw yields rising okay you had branded out there saying that they will not pause that they will be ferocious to tame inflation was that just yesterday she was out there you're talking about unemployment rate at 3.6% you're talking about 390,000 jobs added market was looking for 328 average hourly earnings 5.2% basically in line with expectations 0.3% for the month market was looking for 0.4 but year over year 5.2% so keep in mind the headline numbers without adding all the nuance that may point to a trend that the market the economy may be cooling a bit the headline number is that the market is adding 400,000 jobs a month with people making 5.2% more than they were just a year ago on employment and meanwhile you have an unemployment rate at 3.6% that is a tough one if those numbers persist because that is not the type of number or numbers that will tame inflation to what the Fed probably needs now yes there are numbers in here that point to that but my take folks giving you that headline number the markets and 400,000 jobs man at some point we have to have some pause and adding 400,000 jobs with an unemployment rate at 3.6% and wages rising year over year at 5.2% still seems pretty hot rightfully so labor force participation edge higher rising to 62.3% those still 1.1 percentage points below February of 2020 so the market liking that I'm the Fed liking that that's one of the components in terms of labor force for participation rate edging higher in the slightest breaking down some of the areas leisure and hospitality leading the way adding 84,000 positions professional and business services rising by 75,000 transportation and warehousing contributing 47,000 in construction to construction excuse me 36 retail trade took a hit on the month however losing 61,000 in May that sector means 159,000 above where it was in February of 2020 so that number out of a 30 we give you the market pretty interesting right that you kind of have a slight drift down but you're talking about within I guess it's 15 points lower now from where you were a market was down about 25 points coming into that number you're trading at 41 35 right now Nasdaq right now negative 172 points crude holding up relatively well at 117 43 right now gold off a bit to 1863 and we jump to no 10 bonds that says it all folks the market sees a higher 10 year yield on that number when now at 2.981% 2.981 you said that excuse me the tenure trade off 15 ticks in a heartbeat on that number and there was a brief spike I guess you could call it on that number initially but man that's a tough one for sure and folks send some white light out to our tiger white shark in the dent dealing with a little covid deal getting over it he's going to be well he's got his meds now he's resting but send some white light white shark we're sending it for you man get well for sure all right let's jump around to what else we have going on before I jump to even the numbers some of the companies that were out last night some interesting numbers and reactions crowd strike out with their numbers you're negative by 8 bucks this morning you had restoration hardware out with their numbers you're down $10 this morning Lulu lemon with some really strong numbers they trade lower though almost not quite yet I guess you're up by 2 bucks and this is a scenario folks that and we'll pull up the numbers for these companies Lulu crushed it in my opinion on the numbers last night I was somewhat skeptical thinking of making a trade on this equity I did not but the logic was going to go that you got an equity deal with some serious multiples here still I think you were at a PE of 35 or 40 coming into that earnings event you're in retail you're an athleisure now athleisure has been persisting while they really had a strong earnings event last earnings quarter you can see how it traded lower but the logic going you know that maybe some of our shopping tendancy shifting as was the case in target as was the case in Walmart maybe the ward margins are going to potentially be hit right these are all biases they get confirmed or denied come earnings and boy those numbers denied everything about what I was thinking and the market can barely trade positive by a couple bucks now you get the market down 1% so that's bringing this equity down as well you got the NASDAQ trading lower the multiples on Lulu lemon are going to trade that lower as well but boy it is a tough environment right now in this market when you can have the numbers that Lulu had and you barely trade up by $2 in my opinion for Lulu lemon and again back restoration hardware this thing's been trouble struggling you were just a 236 though I talked about some of these equities right like crowd strike in particular you just take a look at a 10 day 30 minute you go from 135 to come into earnings at 172 right is that the low 135 I think might be while you were down at 130 what is the slow here yeah about 137 that's May 25th you're trading at 137 and you came into earnings at above 170 it's tough expectations you're gonna open at 166 relatively well considering where you've been recently for crowd strike restoration hardware you just traded from 236 to come into earnings at 300 that equity traded up what $64 almost a 30% pop in the final five six days coming into earnings so they're gonna give up about eight bucks on their numbers and Lulu you were just a 250 you gain exactly 20% coming into the numbers they were at about 300 250 to 300 so huge numbers for these equities coming into their earnings and it looks like they all may give back a little it'd be interesting to see how Lulu opens as you got markets and negative territory excuse me S&P's negative by 41 it's gonna be an interesting open folks to say the least back to a 15 minute chart to see the action sitting right at the 50% retracement of the entire move higher yesterday and then move higher folks that was about what was it hundred and 17 point run in the S&P from low to high yesterday stay tuned folks will be coming back the time of booming inflation we are purchasing powers eroded there's no better 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overnight right now you're down about $14 pre-market you jump to Google shares Google down about 20 25 bucks Microsoft started the negative action yesterday man would you believe me if I told you that Microsoft was gonna close positive yesterday when I was on the air I mean remarkable right so you get a sell-off on Wednesday that closes out the date about 272 you get the news right as I was on the air because future started trading lower at 9 in the morning wasn't sure really what was driving it it was Microsoft cutting their guidance Microsoft trades from 275 down to 262 on the open and with the market charging higher it closes at 274 58 absolutely remarkable turnaround this morning you down $3 $3.50 potentially for Microsoft on the open all right of course another day in the markets and we got to talk about Tesla and Elon Musk so news comes out let's get over to the headline Tesla and this one's just not rhetoric folks it is a reality for sure as Elon sends out a note pausing all hiring worldwide says the company's gonna need to cut staff by about 10% they have a hundred thousand employees that's a 10,000 job cut he's kind of shooting from the hip it sounds like but you never can really know in terms of what is going on he was just out of course talking about everybody needs to come back to the office and no working from home or we'll just consider that you've quit so he's alighting the fuel to the flames over at Tesla it'd be interesting to see how this one plays out noting that he had a quote-unquote super bad feeling about the economy he's the CEO he's entitled to have that feeling a lot of other CEOs would get punished pretty hard if they were shooting from the hip like Elon is firing 10,000 workers because they had a super bad feeling meanwhile they were going after Twitter etc right maybe the CEO shouldn't be going after Twitter and tweet storming all the time if he's gonna be cutting 10,000 workers from the company I'm not saying that but you can see what he gets away with man anybody else would be ripped apart if they had been doing recently what Elon is doing and then coming out and saying he's got a super bad feeling and we're gonna have to cut people and I'm not saying that it's part of the Twitter deal man but he just gets away with craziness in terms of what he's able to do as a CEO of a publicly traded company and now 10,000 people gonna lose their jobs he's gonna get them lean maybe the numbers are lining up with what he's talking about maybe it's not just shooting from the hip we will find out eventually but nonetheless Tesla negative yet again right near yesterday's low that's the volatility for you man five six seven percent on a daily basis some equities trade that large folks not usually equities that are at the market cap valuation that Tesla is meanwhile that represents such a large swing in market cap not usually the case but nonetheless it's Tesla as we know all right let's jump around see what else we have going on yeah coinbase similar deal they're gonna rescind employment offers extend the hiring freeze you have Gemini trust announcing a 10% staff reduction this one's different because it's crypto folks I would stay away from Coinbase all right I would stay away from it from an investor perspective I would stay away from it having any type of assets in there at all because they've already said if they go BK they're gonna take all your money from 368 down to 73 now here's what to keep in mind for this thing is that the last time that Bitcoin was at 30,000 this was the area in terms of about 250 the Coinbase chopped around in Bitcoin is holding somewhat relatively well in terms of sitting at 30,000 as I mentioned that's where Bitcoin was in the middle part of 2021 Coinbase is far below that level okay the slow down in crypto trading everything is much more dramatic than even when it had that first dip because it's been waiting for some period of time now and and all the talk in terms of putting you know they put that phrase in there for a reason folks that if they go BK client funds would become credit general creditors okay they put that in their quarterly announcement for a reason that led to a spike down to 4083 on that earnings there's your volume spike you want to see a volume at Lowe's how's that for a long volume at Lowe's on a weekly basis on their earnings stay away from that one folks all right S&P's continuing to drift a bit we're negative by 45 points right now you're coming right down at session Lowe's NASDAQ 100 you're off almost 200 right now 12,705 we jump around to what else I have going on some of the other numbers in here for the jobs report so this is the live update where we I was at the top they've probably just been up in it yeah they sure have since I was in here differing sectors of this economy a positive sign participation rate for prime age women that rate continues in upward climbs that's 25 to 54 women what did happen is I saw black unemployment actually rising let's see where we go yeah so you had the participation rate for black women rising to the highest level since COVID-19 and the rate for black men rose to the highest level since 2019 black unemployment ticking up to 6.2% but that is participation rate that would be something that the Fed maybe may like that participation rate coming back into the economy you know I would agree with this one and I would set it before I even came on the show so that was at 907 Rosenberg from Blackburg BlackRock Rosenberg from BlackRock 390 job market still too strong from an investment perspective it's too soon to look at bonds as a good hedge right now they've still got to adjust he says the jury is out still out on the inflation trajectory 400,000 jobs folks on a monthly basis is not gonna bring this economy back to where it needs to be for the Fed too hot the problem with it is that the area for a sweet spot right now is just so thin man you know you have to have a little bit more slow down in this economy to bring down the inflation for what the Fed is looking for I don't think this number gets it done even though it's pretty decent and the market reaction kind of agrees I would say right now with rates yields climbing to almost 3% on the 10-year and the market getting a little bit soft off 44 points I mean we're almost at 4200 folks in the S&P you take a look at where we've been recently all right all that is pull off some of these for a little bit of clarity all that is is a 382 of the entire move lower from March 29th and I didn't even take the extreme low I kind of took the lows of the bodies from May 12th 19th 20th 23rd and 24th before we kicked off to higher prices there all we did was get up to the 382 we chopped around there for about a week from May 27th struggling to get above 4200 in this market probably rightfully so considering the variables that we have in play with an economy that needs to soften inflation that needs to come down and meanwhile we're adding 400,000 jobs a month we have year-over-year wage gains of 5.2% job openings still pretty dramatic number in terms of jobs open so we'll see where we go but it's going to be an interesting open as markets picking up steam to the downside with three minutes and 30 seconds to go until the opening bell we got markets at pre-market session lows S&Ps now off 1.1% NASDAQ off 200 points we'll call it that's one and a half percent Dow off eight tenths percent stay tuned folks we'll be right back for the opening bell if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report is a comprehensive look at the metal sector as well as the markets that move gold which is the currency and bond markets new subscribers get a 30 day money back guarantee so you have nothing to lose every Monday morning I publish the gold report with coverage of gold silver bonds the XAU HUI GDX as well as more than 30 different mining equities to see 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look at the daily just want to point out that was the lowest area we've seen on the VIX since April 22nd nowhere in May did we see a 24 handle in the VIX we got it yesterday we're chopping around a bit right there on that area on the volatility index alright in terms of what else we're talking about jumping over to Walmart another article I was reading over there and CNBC this morning I talked a little bit about this yesterday they're gonna open new fulfillment centers over the next three years that the company says we'll let it pack and ship online orders more quickly the first one is going to be in Illinois about 40 miles southwest of Chicago you know from a longer term perspective folks for a dividend stock of Walmart Walmart's it has 31 facilities that prepare online orders but more than 35 a hundred of its stores also fulfill online orders I think they have 4700 stores worldwide maybe too many in terms of what they need where the economy is going but you check out Walmart man they drop out of bed on those earnings from 148 to 117 you bounce a bit you back this things up this thing up and you can see Walmart trades basically right back to pre-pandemic levels of 120 you got it all back you trade to that level you chop chop around right at about the 618 in terms of where you are now Walmart what do they have going on here looks like a 55 cent dividend so what are you making $2 and 20 cents is what you're making what's that almost a 2% dividend a year for Walmart at 127 yeah just under that for a company when you talk about it okay Walmart market cap wise 350 billion dollars contextually in terms of where they are and who they're competing with it's a tough go around for Amazon but I imagine they will close that gap at some point because Amazon does need a competitor and I imagine that Walmart is one of the only companies that could actually realistically have a shot at competing all right we jump around what else we got going on in the world of and this is just not test let's everybody folks but pay attention to what you put out there on the internet test the monitor its employees on Facebook with help of a PR firm during the 2017 Union push shouldn't be surprising but it's nice to get it in writing and be reminded you know when you put stuff out in the public folks anyone can be watching if you're an employee you know I'm sure that people would be up in arms in terms of this being allowed the companies allowed to do that that's a whole other conversation okay the only conversation I'm talking about is just be aware that what you put out there of course people are watching it okay and when there's a lot at stake they're going to be watching it even more they conducted research specifically on organizers on social media in 2017 and 2018 they watched closely for Tesla where discussions were discussions on social networks alleging unfair labor practices of course they'll be watching everything the money at stake for a company like that very incentivized to spend some money on a PR firm to make that happen but always interesting you actually see it literally in writing yeah let's jump over to Tesla whole markets bouncing a little bit right now S&P is only down about 36 Tesla they get back a few a few dollars of the losses I guess that's a bounce it's a bounce to where we were at 9 in the morning to 740 you were down to 726 markets pretty where much right where we were prior to the market small companies this is a tough one lose almost 300,000 jobs since February now this number was out yesterday okay so this had to do with the ADP I think the jobs number though on small companies was not that beneficial as well let's see yeah well I'll jump back to that one but this one's just talking about on the ADP because ADP had numbers that were harsh as well few within firms fewer than 50 employees have lost almost 300,000 jobs this is from the ADP research institute showed yesterday 91,000 coming in May not sure that's indicative of the strength of this economy it is very tough the period we've come out over the last two years and with the economy ratcheting higher cost ratcheting higher you can see that maybe big companies able to withstand that volatility more than small companies right small companies work in month-to-month paying bills month-to-month you have rising rents you have rising employment costs and meanwhile might be a little bit more tough to navigate some of the variables in play right now than some of the larger companies and yeah so you have one to 20 jobs accounting for losses as well 20 to 49 jobs inching into the negative recently February I mean February small companies losing big big I mean the one to 19 jobs 80,000 of them gone in February 95,000 gone in April and 77,000 gone in May see how that one plays out yeah so Apple's got their worldwide developer conference believe it's June 6th right when are we talking about here I believe it is but they have that coming up they're gonna announce significant changes to the iPad software next week next week yet June 6th yeah I believe it's Monday that they'll be doing that iPads next major software update the iPad OS 16 will have redesigned multitasking interface it makes easier to see what apps are open and switch between tasks when the other things I was reading about is that the lock screen on your iPhone may start to get a little bit more real estate maybe you start to use widgets that might be available right now it's basically date and times the only thing that's shown up there you don't have widgets on the lock screen until you get into it but that's something that may be coming down the line as well they'll probably release the beta version of that when they come out on Monday let's check out how Apple is trading right now as Tesla gives it up yeah be careful of that one folks like I said any other universe that CEO is getting pummeled today man he comes out Thursday and basically flips everyone the finger that doesn't want to be chained to a desk for 40 hours a week all right he did it in the most disrespectful way you might be able to as a CEO of a public company saying if you don't show up we'll just assume you quit come on folks okay then he comes out today says he's got super bad feeling I mean what's really going on what it would what are they gonna push a filing out that says that you know Shanghai ports have crushed their business or something like that I don't know what it could be but you get the point right maybe there's something else going on behind the sidelines let alone the distractions currently in play for Tesla shares jumping back to Apple though Apple giving it up off 3.2% man that is a haircut folks Apple's got sixteen point five billion shares outstanding you're off five dollars Apple just lost ninety billion dollars a market cap you talk about a move man watch out let's see how some of these other Frank stocks are trading Microsoft gets a little bit back on the open but they're down 1.2 percent right now Google shares off 1.6 percent right now let's see how Facebook is trading Facebook off 1.7 percent as well jumping back to some of the other equities crowd strike that's a pullback for you down six point five percent we jump over to restoration hardware they're positive after some decent numbers pretty close to in line restoration down about six tenths percent as the S&P's just shop around my dad's been calling in a sideways market maybe that's what it is for right now maybe the market comfortable with an upper boundary of about forty two hundred where's the lower boundary it's comfortable with see stay tuned folks will be right are you in the market for buying or selling real estate in the Bay area including the surrounding St. Petersburg Tampa and Clearwater markets Tiger real estate LLC is a firm that has extensive experience in the Tampa Bay area whether you're looking to sell your current property for maximum value or you're in the market for a 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prospectus call 866-476-7523 or visit direction investments dot com a funds prospectus and summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principle the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor for side 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 have the markets chopping around right now you have the S&P's off 1.2 percent you're negative by 48 points right now the NASDAQ off 243 jumping back to some of those companies with earnings so Lulu yeah Lulu giving it up and they had some strong numbers last night as I was mentioning you're off $6 and 26 cents right now you're off 2% you're treating a 296 for Lulu lemon right now it's tough to imagine what would happen if they came out with some bad some bad numbers excuse me coals so coals story from the journal out there that the retailer received takeover bids from private equity firm sycamore partners and retail holding company franchise group sycamore's bid said to value coals in the mid 50s franchise group is offering about $60 coals closed closed closed Thursday say that five times last at $41 and change interesting they got a spike to negative prices they're not sure what that was to $36 nonetheless you're up to 44 bucks initially and back to 42 20 you're barely moved a dollar after all of that and they said on their last earnings is that they're actively you know taking offers to go private but the market not quite willing to to trade higher right now as you're at 42 bucks and supposedly the journal say they got offers at 55 to 60 bucks that'd be a quick 30 to 40% gain on this equity and it's not trading up so something else is going on there be careful maybe that's required spike lower all right so some of the other companies let's see yeah we talked about Lulu restoration crowd strike and coals Tesla of course cone base coin base we talked about it basically all of them in there in terms of what's going on so let's jump around to some of the different industries in terms of what we have going on we'll check out some of the stocks I like to take a look at Disney shares so here I'll share a chart with you that I was looking at recently on a weekly basis on Disney on a weekly basis we trade lower man and we trade lower on lighter volume so you go back to really where we have a huge acceleration where we start the run you could say now yes the run started at $80 but maybe you call this a unfair low maybe the low is really somewhere around 100 bucks for Disney you accelerate higher with 146.6 million shares that's the week of May 4th 2020 we're going back more than two years May of 2020 remarkable and then you look at the bounce we got at the lows here you trade into that low with 113 million shares initially you trade into that low with 62 million shares the week of May 16th now you do need to sign a strength in this Disney you're off 1.75% with the market right now you're off about two bucks 10890 off of 203 Uber had quite the day to the upside yesterday Uber you're off 2.7% you put it back to a five minute this thing trades from 23 bucks almost up to 25 percentage wise a huge acceleration we get back some of it put over back on the weekly didn't think Uber would return to almost pre COVID not pre COVID almost COVID lows yeah on one week you got down to 13 bucks but you take that week out of the equation and $20 is the low when travel was going to cease to exist they've built out quite the food delivery business over that time the travel business of course in terms of Uber rides always there but man quite a pop quite a get back from 64 to 24 eventually that company is going to make a lot of money folks but they have some headwinds right now to say the least for Uber Airbnb is another one talk about a pullback man this thing you had support at about 131 you trade down to 103 recently you're you're at 118 Airbnb down 2.5% right now we jump around to some of the airlines Delta just chopping around man these airlines just chopping right at the 382 with the entire move higher from 17 bucks up to 52 we jump over United right now United again just chopping right 44 bucks Boeing had quite a lift at one point earlier this week delivering some planes Boeing's only down about 810% right now you got the Dow what's the Dow down about 810% as well yeah Dow down 810% as well so Boeing right in line with the Dow you were in a downturn channel if I was getting into Boeing I'd be real careful of how I trade into this channel line yeah that's all the way up at 160 I imagine eventually Boeing will find a bid and maybe that's the play versus airlines with where crude prices are right now for Boeing all right a week from today folks my dad he's got an all day webinar talking about his trading methodology timing the trade from his best selling book the art of timing the trade your ultimate trading mastery system it's $295 you get a month of his newsletter which is $169 you get his book mail to you so physical copy hard cover book mail to you $88 value both of those almost bring you to the 295 cost itself it'll be five hours from 9am till noon take a 30 minute break for some lunch for everybody and come back for a 90 minute session from 12 30 till 2 he'll be talking about quality volume ABC's Fibonacci's Confluent Zones how to use them when entering and exiting trades cause and effect swing points and like I said you sign up you get the book you get a month of his newsletter current subscribers we'll see their next next month for free and that will be archived so if you can't check out all five days you can't be there for the four and a half hours of methodology you can go over that as many times as you'd like check that out it's a week from today and here's the deal we are capping it at 40 not sure we'll get there all right but if we do we're gonna cap it at 40 and we are ending sign ups next Thursday to make sure that everybody who signs up okay is able to get into the room by Friday morning so please don't delay until the last second because we will be ending them because as much as we'd like to get those final sales in the door we want to make sure everybody's taking care of we want to make sure it's a smooth transition into the start Friday at 9am and what always happens folks uh we're creatures of procrastination all of us are and so I ask you if you're thinking of signing up please go sign up early because even if we don't hit the cap we are going to end sign ups on Thursday uh because as much as we'd love to take those last sign ups it's just not fair to the people signing up because we do this in our discord room it's outstanding technology you can follow along with Tom everyone's chatting they can share their charts if they want they can watch Tom's screen live uh but we want it and it is a very simple process folks to get in it if you haven't checked out the Tiger's Den right on the front page as well a dollar for the year okay check that out now if you join the course you get in there for free okay so just join Tom's webinar I know it's 295 but you don't need to do both that gets you in the discord room you will be in the Tiger's Den and then you'll be granted basically special access to uh Tom O'Brien's all day webinar coming up next Friday a week from today so please check it out don't wait we're all creatures of procrastination uh but we will be winding that up Thursday night to make sure we get everybody in that room ahead of the start on Friday morning at nine in the morning and uh we got a market right now folks it's a great time to be in this market checking out what's going on when you have volatility for the longest time we got no volatility right we had a market with the VIX almost tough to remember when you back things up on a monthly basis how about 856 on the VIX how about the VIX trading at 1142 in November of 19 as we came into uh the pandemic how about when you put this thing back just on a five-year daily to see really right where we were and how quickly things got out of control we were sitting at 13 and change almost yeah 13 and change right a little 14 exactly on on Valentine's Day the day before Valentine's Day VIX of 14 things had inched up to 20 maybe that was a little bit of a heads up there when we had January 22nd the VIX go from 1231 to 20 the market traded all the way 1355 said no we're fine and then things as we know got a little haywire in March of 2020 that's an elevated VIX we're dealing with right now we get the markets S&P is negative by 55 NASDAQ 100 negative by 250 I'll be right back to finish up the show folks sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at TFNN 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you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento 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 sitting down 51 points right now you're just off the lows we're trading at 4123 Nasdaq 100 off 240 points watch out today folks I imagine the market is a little dicey right now and to be down 50 points you are already down 25 coming into that number I gave you my case at the beginning of the show we're adding 400,000 jobs a month we have the unemployment rate at 3.6 percent and we have yearly wages rising at 5.2 percent if you told me that those are the economics conditions that are conducive to the market reacting to continuous 50 basis point hikes to slow down inflation I'd say man come on that is a hot hot economy that is rocking on all cylinders right now and 400,000 jobs a month employees are making 5.2 percent more well what what I don't say in that is that they're making 5.2 percent more and inflation is running at seven or eight percent so they're losing wealth in that time that's the problem that's the problem I see with the market as we trade into Friday and folks you know last Friday we're trading at 4056 market 75 points above where we were last Friday you back things up a little bit further a 20-day hourly you see how far we are off the lows of 3807 okay I'm going to back this up on a daily that is the Fibonacci the full run but real quickly we're moving these Fibonacci levels as we wrap up the program here putting it back to the 20-day hourly there's your 3807 low that we've traded at I mean you want to see pullbacks possible I'm always seeing what's possible and what gives me a quick glimpse of what's possible is pull up the 382 the 382 is 75 points below where we're trading at right now that'd be lost about 125 points in the S&P today if we make it down to that level I see a lot of resistance at 4200 man this this market with everything going on with faith you know you have the fed vice chair what happened to the market reacting you had Leo brandard coming out and saying we are not pausing we're not pausing 50 basis points we're coming with it the market didn't even balk we're at 4200 4200 folks in compared to where this market has been recently right 4200 is June of last year highs the market wasn't sure we were going to make it to 4800 4200 was up 15% last year thanks for tuning in folks have a great friday basil's up next larry 11 fast market at 12 have a great friday everybody have a great weekend building wealth trading in the