 The following is a presentation of TFNN. The TFNN Bull Bear Training Hour, every training day, live at 10 a.m. Eastern. Call now toll-free at 877-927-6648 or internationally at 727-873-7618. The TFNN Bull Bear Training Hour. Now, Tom and Tommy O'Brien. Good morning, everybody. I'm Tommy O'Brien. Join this morning by our man Basil Chapman filling in for Tom once again. Basil, good morning. Good to see you. Good to see you. How are you? I'm doing well, man. We have another positive market green across the board. Dow Jones up 112 points. Dow hitting 27,000 for the first time. We had S&P 3,000 yesterday. Dow 27,000 today. S&P's sitting just under that level. Up four points right now, 29.97. The Nasdaq up about five at 8208. We got some CPI data this morning, Basil. Nothing too surprising hitting the market pretty much in line. Weekly jobless claims, 209,000 as the economy chugs on. And we got a lot going on to talk about it all as we start it off every Tuesday, Wednesday, Thursday at the top of the hour. Let's jump over to our man Kevin Hinks from TD Ameritrade Thinker Swim right after the show, Fast Market. They talk about everything to do with this market. And man, we got a lot going on today as we have Chairman Powell back in front of Congress, and he's over at the Senate today. Kevin Hinks, good morning. Good morning, Tommy. Good morning, Basil. How are you guys doing? Doing well, man. Digesting the market action as always. And where do you want to start off, Kevin? We got a lot of news. We got Powell back in front of Congress. Where are we looking to? You know, I think today's big news is a couple things. The key levels that the S&P is hitting, I think 3,000 is going to be a really busy price. You're going to see it, you know, trade around that number a lot here. But guys, I got to be honest. The CPI number that came out at 7.30 Chicago time, 8.30 Eastern time this morning was not mild. It was just below what you'd consider hot in terms of prices. And, you know, you're right, Tommy. I heard you mention gas prices down 3.6%. Energy in general down 2.3%. So electricity was down, natural gas was down. But, you know, this number, ex food and energy, the year over year number, 2.1%. I'm surprised, frankly, that the bonds aren't down more than they are. Yeah, you got the 10-year and like 2.08, right? And the headline that they have out there is US core inflation can post biggest gain in nearly a year and a half. So there's something to eat up there, but the market pretty muted response in terms of anything across the board. And here's where I think that your viewers should take note. It's not necessarily that the July meeting, because I think he'll still lower rates at the July meeting, but any perception of more rate hikes or something in the future, I think this may spell out, at least for the time being, that he's won and done on these rate cuts. I think that's what he may allude to, that this economy is strong, he'll do this one, he'll basically take the December rate hike out of the market and then see what happens. He'll go, not Dalvin, you know, he won't go hawkish, but he'll go neutral for sure, in my opinion. Maybe a little pause for a moment, right? That could shake the market up a little bit. I think the market will have to consume and digest that bezel, absolutely. And I believe you're starting to see a little bit of that. With a tenure now approaching 2.1%, that's a number that's starting to creep back up. I just think that's what your viewers should be paying attention to as the data starts to come out. Because it's been a quick reversal since it had that 1.94, the tenure, and sitting at 2.1 yesterday before Powell's remarks become public, but it's creeping right back up to that 2.1 after that spike lower. So I would agree. And we have the weekly jobless claims too, Kevin, right? $209,000. Another historically low number of $209,000. I mean, how you interpret this, but anything, a strong economy, you might have some inflation in there. That's got to be on his mind as this comes in. And we'll see if they ask him questions about this data today, which is pretty remarkable that he's going to be in front of Congress. I'm sure they'll try and ask him questions. We'll see if he goes there or not. Now, the other news, Kevin, I'm sure you saw some of the health stocks. In terms of President Trump talking about where's my headline? There we go. Eliminating the rebates. And man, I was just jumping around to some of the stocks to pull it up, folks. I went to UNH first. They're up like 5%. I pull up SIGNA. Man, is that CI? Excuse me. Yeah. Across the board. For everything having to do with healthcare or pharmaceuticals, CVS, Walgreen's Boots Alliance, they're all percentage point higher. Look at that, yeah. But my knee-jerk reaction to this was, if they're dropping that, what's coming? Yes. Something's going to come. Does that mean they have another plan? Sure. Does that mean they have something else in the pipeline to adjust prices? Because I can't imagine that President Trump is just, and this administration is giving up. No. I'm trying to get lower prescription drug prices. This seems like one of the few bipartisan deals, right? That everyone's kind of on board. Right. And unfortunately, they just had a shutdown in terms of having forced these companies to post their prices on some of our ads. So maybe this is kind of a regrouping because that caught me off guard. Don't forget we also had infrastructure. And these things suddenly get shoved aside and then they become foreground and background and foreground. And that's kind of what you've got here. That tussle is part of the market as well. Obviously. Every time. Yeah. My knee-jerk feels like there's something else. Like he's stopping this move in order to make another move. I would tend to agree only because this seems like an easy win for any politician. Right. That the public is behind. And hopefully that's something that they do. And you can see how immediately talk about right to their bottom line in terms of the health stocks. Right. They're going to be able to pop because they're going to be able to print that cash without having to worry about it. Right. So today's show, guys. Today's show we have pretty interesting. One of my favorite things to talk about in the new economy, which is payments. How people pay things. We're going to do PayPal, Square, and then Visa and Mastercard, the four ways now without cash that people are paying for things. Nice. That's an interesting one, man. You throw some crypto influence onto what's going on in there in terms of Bitcoin going crazy. Facebook is catching a lot of grief with their plans in terms of Chairman Powell out there talking about cryptos yesterday, but that payment sector in terms of how quick everything's being and then you're bringing into cryptos, of course. And I know, Kevin, we had mentioned it. We don't get to talk to you on Friday mornings, but you guys cover the fang stocks on Friday morning. And man, Amazon just keeps chugging. We're sitting at 2033. I joked yesterday that it might be 100 points from where you guys were talking about it on Friday. I think it's going to be above $100 points. $100 we're talking about. $100 above where you guys talked about it on Friday. And just what you're saying, Tommy, and just how quickly and often these stocks move and how important they are to this economy is why we cover them every Friday. It's amazing. We dedicate our show every Friday to fang plus stocks. And we make sure that they get as much coverage as possible. So, yeah, tomorrow we'll surely be covering Amazon. And I think our plan is now to cover Apple as well. So we always work our way through those 10 fang plus stocks that we talk about. As we're saying, there were headlines on all of them, right? It's like, yeah, Apple talking about their devices. And they had news this week. Netflix, HBO Max came out with a new service that's going to be their competitor this week, let alone Amazon. I've mentioned many times they have their Prime Day coming up, I believe it's Monday and Tuesday of next week, which they usually get a little pop on all those numbers. All right, man. Well, we look forward to the show. Powell speaking right now. I'm sure you guys are going to have plenty to talk about. And we look forward to the program, Kevin. 45 minutes from right now. And then Monday? Monday, guys, the bank stocks are coming out. So now we're really deep in earning season after this. So buckle up, everybody. Perfect, Kevin. We appreciate it, man. Have a great program. Have a great weekend. And we'll talk to you next week. That would be good. Well, great talking to you guys. You too, Kevin. Folks, check it out. 11 a.m. right after this program, Fast Market by TD Ameritrade, talking everything in the market. Basil and I are going to be coming right back. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. 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You can still visit us at the same TFNN.com URL, but when you do, you'll see a new and improved home page with a much simpler navigation, whether you're watching Tiger TV live in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. or in the U.S. Welcome back folks, Tommy O'Brien showing by Basil Chapman this morning. We've got markets hanging around. I was going to say positive. As we said that, though, NASDAQ actually sneaking into the negative, negative by about two points at 8,200 square. We've got a lot of round numbers going on, Basil. NASDAQ at 8,200, S&Ps 29,95, and the Dow sitting just under that 27,000 now, 26,965. So Basil, what's on your radar of all the things happening this morning? So finally, I've got a yellow light flashing. So we've been very positive. Tell us about what this yellow light is. The June 3rd low. We're waiting patiently. I haven't got it up here, but in the Chapman wave, we're always looking for that fourth highest peak from the low bar that starts the buy signal. Buy signal goes to a buy mode, the implication being the Chapman wave that it should go to at least four higher peaks. And I spoke about yesterday, I spoke about this inside Chapman wave, inside Tracker Technica developed years ago, where I draw two parallel lines, like a little mini channel at the top on a rising price movement on the bottom. And if it goes to the top and it gets repelled at that level a couple of times, it says, watch out. That's now like a barrier, it's like a rising little mini barrier, and the price needs to really pierce and close sharply above to be able to overcome that repellent phase. So we're right there. We're at leg D. We made a new all-time high today of $27,000 and $7,000. That's just a tad above yesterday's high. And all these highs, if you go back to the 21st of June, $26,907, then B, peak C is $26,966. That's peak C. Now we've got leg D at $27,007, just modestly higher all within this channel, but that wasn't the issue. The issue is that we've got the same thing in the weekly chart. You can see there's a rising trend line. And the monthly going all the way back to January of 2018 at $26,616. And when you think about it, we're at $27,000, we're at $26,958 right now. There are only 300 points above the high that was made back in January of 2018. In the interim, we've gone down to $23,300, back up to $26,950 for a new all-time high, down again for that terrible December, going to the December low of $21,700. And now back into leg C in the Chapman wave in the monthly chart, which means it's still very bullish. But on a shorter term basis, we're right in that resistance zone. So I'm just here to subscribe us. We are long. We're making preparations here, we've taken a little bit off. And now we're making some preparations to say there could be a pullback because you've got the S&P in leg E and the QQQ NDX 100 in leg F. This all says just be a little careful here. There could be a turnaround. Yeah. And see how I'm just going to pull up Boeing because with the Dow goes, Boeing goes or with Boeing goes. No, but you see what's happened is we've got a U and H. You've got some other things going on. And that's this whole, you know, I love the makeup of the Dow at this particular stage for the first time in decades. I think the Dow has got maybe one financial too many. But this is that whole rotational thing. So suddenly you get some weakness in the Dow. But wait a minute. You've got to pop up in another sector. And it's not really an industrial anymore. What is this, Dow industrials? Tell me, Microsoft's an industrial, Verizon's industrial? No. This is very different. So it's interesting. Yeah. And those, I mean, just remarkable. Remarkable. Walgreens is in there, which is up about 2%. WPA, Boots, yeah, right. I believe one of actually, they pulled back a bit in terms of because some of them really skyrocketed, man. And that's in leg E. Well, look at CVS is not there. But yeah, Walgreens, they call it now Walgreen Boots. Alliance. They sure do. So this is going to be interesting. We're talking to Kevin. I didn't want to interrupt because he really got the point that I wanted to make so I can elaborate just a moment. Look at the TBT. This is the inverse. This is the ultra short Lehman 20 year treasury bond fund. Now TLT is the long side. TBT is the short. And look at this. So this is kind of trading with yields, you could say. This is the yield. This is purely, yeah, this looks like the TNX 10 year yield. So this is really looking at yields. And we're looking at 28.21. Just one of these six sessions ago, trading at 29.50. This is one of the bigger moves we've had to the upside in a long time. Doesn't have to go very high, but it does mean that the Fed is saying one thing. The reality is a little bit different at this particular time. I think you have to be aware. Yeah, no, I was just going to agree as well as. And that correlates to the jump that was in the 10 year from about a 1.94, 1.93. I think we got down to up to a pretty quick 2.1. Percentage-wise, that's big, but where we've come from, you have to put into perspective, definitely on a short term. So yesterday when we were talking, I said, it'd be unusual for us not to make a leg D in the crude oil continuous contract, 60.28, and it was pulling down, then you got that, what was it? There was a shortfall, I think. Yes, there was a draw of like nine million barrels. And Ryan had a little bit of action, but it didn't have much while we were talking. It took some time. I kept checking on it. I know you did programs. You saw it, but it did, right? By about noon, it had started. It got up to 60 bucks. It got to 60.50. It had quite a run. I mean, it's up a dollar from where it was 24 hours ago right now. So yeah, continuing on that run upward. Right, so yeah, these are the other aspects that you kind of dismiss because you've got the bigger picture, but all of a sudden, I think all these little ancillary aspects are going to become important. Crude oil, bond yields suddenly rallying. If you're looking at, look at this, the commodities. Look at the weekly chart, the quantities. Look at wheat. It's had a fantastic run. Just 1, 2, 3, 4, 5, 6, 7, so this is eight weeks and it goes straight up. There was nothing to see in the grains and then all of a sudden they move higher. So my contention is that at some point when it doesn't have to be now, but a little later on, when you really see, do any of these Fed members go to a supermarket? I mean, I don't know what they look at to get the CPI, but let's face it, you go to the supermarket, just about everything is more expensive than it was last year and that's even with competition. Yes, right. So that's with Amazon being in the supermarket business and they're the best at trying to compete, at least presenting that facade of competing on price and bringing that down. So while you mentioned just wheat, agriculture pops into my mind, just bring it over one of the headlines, Basil, I'm not sure if you saw the headline in there in terms of President Trump tweeting out there, just a 10-04, so about 20 minutes ago, Mexico's doing great at the border, that one's interesting in its own right, but China's letting us down in that they have not been buying the agricultural products from our great farmers and they said they would. Hopefully they'll start soon. So man, lot going on there in terms of agricultural products, of course, the trade deal that's looming, so that just getting tweeted out. I wonder if that'll hit any of those markets as we come in this morning. And the last thing I'm gonna take a peek at, Basil, is we come into this break, we got about 30 seconds left in this segment, we're gonna be getting natural gas inventories and I know Larry, he just finished up his program, natural gas, man, you want some volatility. Let me just put this on a daily to put even a little. I've got a leg D in the daily chart and the continuous contract. Okay, it's a quarter run. Yeah, it is quite a run. Even just going back a month on the August contract, we're sitting about 217 back on June 23rd, we're July 11th sitting at 246 and we'll get those inventory numbers, we'll see how that reacts when we come back. Folks, Basil and I are gonna come right back, we have markets in positive territory, Dow hitting 27,000 today, S&Ps at 3,000, lots around numbers, we'll be right back in three minutes. Hi folks, Tom O'Brien here. If you'd like to get my daily newsletter, Market Insights, then now is a great time to sign up for a 30-day free trial. Every morning by 9.30, I send out my morning letter to subscribers with market commentary on a variety of markets, currencies, and commodities to keep investors up-to-date on the day's trading action. Included in Market Insights are specific buy and sell recommendations for stocks, ETFs, and even options, which stops and price targets included for every trade in my newsletter. If you'd like to try my newsletter at risk-free for 30 days, then head over to the front page of TFNN and you'll find Market Insights under Trading Newsletters. 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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. Natural gas contract up there, we'll get the news in a moment, but we saw a little bit of a spike down, more basiled to about 245. We're sitting at about 246 now on that natural gas as we await those numbers to hit us. So what else, Basil? What do you have on your radar? I mean, Amazon, I mentioned to Kevin Hanks, it's remarkable how some of these stocks are going. It's unbelievable that we have bank earnings coming up next week already. And of course, that Fed meeting at the end of this month looms with earnings coming around. So what are you checking out today? There are a couple of things that I've been focusing on with subscribers. And that is, there is always talk about higher yields are very beneficial to the banks. So if you go back and you have to put over a yield chart and the bank index, yeah, there's some correlation, but I don't think that's it. I think the banks are in a separate field right now. And a couple of them also have the brokerage part of it. So I'm looking at, in fact, I've had for quite a while, we've had one of the bank stocks, it's done very nice, it's up about 19%. I think this is different because the chart itself says, finally, time alone would do it, but it has done it. The monthly chart, you can see that technique that I spoke about, the Chapman Wave Insight Track Repellence Zone, in this case. We're now moving out of that and it's gone to a slightly higher high in the monthly chart. I happen to think that the banks in a little different area, that you have to think of them as a different sector of the market. It's a complex sector, but it isn't just interest rates. And that says to me that they've held very well, considering that yields have gone down so much. So that part of the story, I don't think is quite as directly impacted in terms of looking at the XLF, the S&P Financial ETF, this is the spider fund. Well, if at any point the bank index, XLF, which is trading at 27.98 up two cents, actually starts to trade in the high 29s, touches 30, I think that's gonna be a different thing entirely. I think suddenly the bank stocks get to be a focus and I would even include Goldman Sachs. We don't have a position in Goldman Sachs, although it's on my radar as once again, I've never seen a mega bull market. If I go back in history, I once did a webinar that was really focused a lot on Goldman Sachs, the IPO back in 1929. It's never not been there in major market tops. I know that under pressure, et cetera, but it seems to me that Goldman at some point at 207 right now, if we can even touch 222 in the next two, three months, I think that's going to be a big thing for Goldman Sachs and for the XLF. So I'm not dismissing it. So that's part of what I'm looking at. Try to look at under the radar but a lot of people either are misrepresenting in my opinion or that a technical analysis is telling me that whatever it is we're looking at is holding very well, maybe not leading, because I really would like to get the sectors that aren't leading right now for the ones that later in the year will become quite strong. Yeah, that chart on Goldman Sachs, I mean, it's mind boggling. I don't think a lot of people know if you weren't aware of the chart and just covering it that Goldman's been struggling so much on that monthly chart, pulling back from 280 to under 170, right? What's that low, 151, wow. Yeah, 250 was the high in October of 2007. You know, there was a little problem going from October 2007 to the low of March of 2009. It went from 250 to 47. I would say that's a bit of a haircut. And then it has big, big moves up and then a lot of time to the downside. And then it ready to 218 in June of 2015, pulls back to this 200-period moving average, the orange line at 138, and it's really been working very hard. And then all of a sudden, March of last year goes to 275, all-time high, and then kabloom. And it's one of the few stocks in, in one of the few stocks that I've looked at in monthly charts, especially one of the majors that actually only went to a peak C in the Chapman wave and failed at a C and not a D or higher at 275, 31 in March. So that to me was always, fortunately we didn't have any position, but I did say, am I expecting a D? The technicals look weak. Something's wrong with this picture. Then it went down to 151. That's another 120 points from the 275. So it's really been strong. Of course, they've got scandals. They've got a lot of news. And also they can't trade the way they, there was a time I could be wrong on this, but I was shocked once when I read that Goldman had a year in which they had just a couple of days of negative action. Almost every day was positive. Yeah, they're in a different world in terms of their trading. They came in this bond trading where things aren't quite as liquid as well. Also IPOs. We don't do the kind of IPOs we used to do. Exactly. You're not talking about a retail trader that's just sitting out of the park 200 out of 220 trading days a year. That's amazing. And jumping back to that natural gas. So 81 billion cubic feet was the number that came in. Estimates were around 76, maybe 72 to 82. So that explains a bit in terms of the quick push down that we got. Little bit more natural gas coming in at 81 billion cubic feet. The expectation might have been 76, but nonetheless. Is it trading yet? I was gonna say nonetheless, the market shakes it off. And we're about to make some recent highs in natural gas as we'll be at $2.50 maybe in no time. Sitting at 257. So we're almost three pennies above where we were right on that initial thrust after that news. So what I mentioned just before we spoke about natural gas, as soon as you mentioned it and I pulled up the chart. There's in the chapter, there's that fourth highest peak with the MACD strong, the stochastic at 87%. So it would have been a surprise to me if it pulled back sharply and held at the lows because yep, it could have been a peak D but the technicals are really very strong in the daily. If you go to the weekly chart, it looks like the TBT actually looks like the yields. Just starting a little bit of a rally here. It's gone a little bit higher, but the MACD is about to cross positive if it does well into Friday. There's a nice turnaround here. I think that this actually looks quite good to me on a short-term basis. And it's just touching the 14 period moving average resistance right now as we speak. And that's in the weekly chart right at 2.499. And it's at 2.487, but I'm a little behind. I mean, historically it's gotten down to some, you know, a dollar and change when it's really had some lows, but $2 is pretty decent price if you're looking for a bounce in the price of that natural gas. Tommy, look at the monthly chart. Look at these huge, I mean, people just look at the chart and you know, a big deal. Yes, no, I'm going way back to the buck 60, right? In terms of these are, yeah, no. That's why I say $2 is a decent price in terms of where we've been. I mean, when it was really in the press with those spikes earlier this year, Basil, you're talking about $4.50 and $5, pretty short-lived, but far from where we're trading at right now. And isn't that another confusing aspect when you think that natural gas, we have a lot of natural gas, but at times we've found that through certain areas of the country where it's not a favored product that they want. So it's come under pressure. And yet it has the big spikes and it keeps making lower lows. So that really tells us that in the marketplace, there's a lot of natural gas because otherwise it would be the exact opposite. We've been looking at $3.75, $4.20. So far it's saying that there is a lot of natural gas out there. And what sometimes happens in that market is it gets segmented in terms of where it is in the country too, that there's not quite the flow that sometimes oil or sometimes those Northeast prices would just go bonkers because of some of those supply chains and how they got there. All right, folks, we'll be back in three minutes. We get the markets hanging around. NASDAQ, negative by nine points now. S&P's flat, Dow up 102. Basil Laby, right back. 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That's TFNN.com and hit Watch Tiger TV for the latest market information. I'm joined by Basil Chapman this morning. We got the Dow Up 106, S&P is flat right now at $29.93, NASDAQ in the negative by about eight points. And let's go over to our man, Jack Gleason. As we do every Thursday, 40 past the hour, we should call it where in the world is Jack Gleason segment. Jack Gleason, good morning, what's happening? Good morning, guys. I am in Chicago here today at my office, so nothing exciting this time. I always say, we wait for you to be back in Costa Rica. Do you guys, you still got all your fingers and stuff? I know fireworks are legal down there in Florida. They're not legal up here. They're not legal, man. The world changes and it seems so normal. Yes, I have all my fingers, thank goodness. July 4th was good, but everyone survived. I believe Basil does as well. So what do they just have? You guys, sparklers and so forth. They got the innocent ones in Florida, man. Yeah, you know, like the things you throw them. But we got them in Indiana. We got them in Wisconsin. I was actually up in Wisconsin for the 4th. Nice. You know, a couple mortars here and there. You know, just before we get into the market, it is crazy then in Florida, I believe. And I think we touched on it last time, right? That it's something where you're almost signing that you're gonna use them for a purpose of like hunting or ground removal on your, there's some loophole that they get into the ability to sell you the type of explosives for your, but nonetheless, always be careful of fireworks. All right, so what are we looking at in the market today, Jack, man? We got a lot going on in terms of power. Oh yeah, I mean, gosh, I mean, a little slow on the indexes here. So with this type of, I mean, you know, Powell's on the mic today. I am not looking to do, I mean, I'd probably want to play the short side here today. I'm just trying to look for like a decent trend. Gold's coming nicely off the tie. Oil was really the big mover yesterday. You had that inventory draw that was pretty steep. Sure, nine plus million barrels, yeah. Yeah, nine plus million barrels. I'm looking at a 5970 pullback in oil right now. I'd like to trade that 5970 level. And then I got a level at 6011. So I mean, those are obviously just, you know, most primarily a day trader. So those are shorter timeframe levels that I'll be looking for some bounces off of. We'll see if the S&P can get down to yesterday's lows. I'm looking at 90 quarter and then 94 quarter for the S&P. But man, we're really having a tough time fully cracking that 3,000 level, 27,000 for the first time in history in the Dow here. Today, so that's kind of, you guys got a 27,000 hat over there? Not yet, I know. We ordered it on Amazon. It's supposed to be here in two hours. Well, we'll get it. Seriously? No, not yet. You can change the time. I believe it. I mean, they deliver half the things I order in two hours on Amazon. I mean, do you guys got whole foods by you, Dung? We do. And we're actually lucky in Tampa. I'm not sure about Boston up by Basil, but Tampa has a big hub. Okay, nice. So yeah, I'm sure. But Tampa has a big hub as well. So we get a lot of early roll out in terms of one of the, you know, when they started doing same day delivery, Tampa was one of the first markets when they started expanding it because they have a big hub. So we got a lot, we get some of good action in terms of what they put out. Interestingly enough, I saw a tweet from Basil. So it was either a tweet, maybe it was on Instagram. One of his accounts, I follow him. And he was saying how he binge watched Stranger Things 3, we're jumping around. But that, of course, on Netflix. And I said, man, that's interesting that he's basically out there saying, and then I started thinking about, well, if Jeff Bezos couldn't comment on anything that Amazon competed with, he probably couldn't talk about almost like anything in the world because they compete with almost everything, you know, in terms of Microsoft, Netflix, HBO, what could you compete with, you know, talk about. So he's resigned to the fact that everybody says competition and he's not afraid of touting them when he still comes at it. I thought it was interesting because I don't think you'd ever see Reed Hastings from Netflix talking about binge watching an Amazon Prime show, right? Yeah, yeah, that's for sure. I mean, he's taking on the world pharmacies, you know, I mean, I just hope he takes on healthcare, you know, for the sake of all of us. And I think they are with that venture they're doing with Berkshire, right? So I'm sure they got plenty. Berkshire with JP Morgan in on that too. Yes, right. Thank you, right. So what about Goldjack? We had some action in Gold and they're always looking, we ran up again last night. Yeah, so right now, basically, like my upside targets on this daily move, I mean, I don't have on this computer, I don't have my charts loaded so I can't share my screen, but I have the gold chart up here, go for it. Okay, cool. So the, I'm looking for like the next run up if we can get a breakout, actually to head up to like 1465 is going to be my profit target. And then my major levels that are just below as general supports, you got the halfway back for the week. So below the week to the high of the week divided by two is 1408, 1408 half. That could possibly come into play today. We're not far from those levels, about four points. And then we have a couple of bigger levels I'm watching, 1407.3 and then 1396 is really the level I want to see us consistently stay above 1396. If we do get a couple, you know, if we start losing 1396 and build some momentum below that, I would probably pull play a breakdown of like 30 points at least. I really think it's important to hold that level moving forward. So that's really my crucial support level that 1396. So mark that up, I have alerts set there. And then today I am going to be looking for a day trader on that 1408 half level, which like I said, that's the low of, that's was that Tuesday, which was the low of the week to the current high is 1408 half. But yeah, fantastic run yesterday, you know, reversing half of it. And if you look at an hourly chart that 1408 half that 50% for the week is really where we consolidated and then caught that second leg of the bid out. So it's like to line up my Fibonacci sequences with just general support and resistance levels that other traders might be looking at. And that's at 1408 half. Nice. And how about oil? Cause we talked about it oil quite a run yesterday, man. And continuing kind of that current that run all the way. I mean, we're sitting almost at highs. I mean, it's a 6094, but we're sitting 6042 right now. Yep. So right now I'm looking at 6011. And then there was like what I call an extension sequence was this a really aggressive bid sequence. The current Fib draw I would look at it would be the actual high of Monday. So that's 5846 drawn to the high. And that 50% or tradesman brings us back to 5970 and that's 5970 being the most significant level that I'm going to be looking for in oil here today. Okay. Yeah. We'll see. I mean, that's amazing the volatility we've gotten in oil in gold. And it makes sense. I guess when you look at all oil has its own deal in terms of just last night, right? We had Iran and British Navy in terms of a ship getting attacked. Pretty interesting that that stuff keeps coming to life. I saw Iran had denied that they did that. I don't know. And then there's a lot of rhetoric out there in terms of not who to believe, but there's a lot. You know, it's uncertainty, I think, which is remarkable that it hasn't like another captain Phillips type movie with that. Man, right? No, it boards a ship. Tom Hanks, is he getting ready? He's getting ready. That was a good one. Yeah, playing the role, playing the role. What do you guys got on your radar? Any anything specific any markets you guys are really liking for commodity wise? I've been paid a time. I know corn's been on a big, big run. You know, I had asked you about really what I look at which is the gold and the oil, man. They've moved so much recently too in terms of the volatility, gold itself. That was a nice bounce. You start getting under and I think I had, I had played with even you talk about the Fibonacci's jack and I think I had pulled it up. I talked with it on Basel. I think one of the earlier shows, you know, just going from the run that it started in the late May, a 38% retracement is 1378. So this is kind of a healthy area, but if you start backing down to there, I might be a little bit worried. And that's a little bit longer timeframe, but you know, the run has just been. Well, Jack, we appreciate the update, man. As always, you have a great week, man. And we look forward to talking to you next Thursday. Take care, guys. Have a good one. Thank you, man. Folks, Basel and I are going to be coming back in three minutes. Come on back and join us. I'm certain you are or strive to be one of the best of the best at everything you do in life. It's the most common trait that we tigers and tigers share. If you're looking to become the best of the best when it comes to managing your money, let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets. I'm Steve Rhodes, author of Mastery Probability. And for the last 12 months, Timer Digest has been tracking my newsletter signals, which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, six and three months. Timer Digest also ranks me as the number one market timer for gold as well. The fact is markets can be timed. And I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do. Sign up for Mastery Probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too. Sign up today. It's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7th, 2002 when gold was trading at under $300 per ounce. Gold peaked at more than $1,900 in 2011 and after spending many years consolidating at lower prices, gold may be poised for its next big run. Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, the Dollar, Bonds, South African Rand as well as 25 different mining equities with specific buy-sell recommendations. As of April 1st of this year, the gold report currently has eight active positions with an average unrealized profit of almost 8% for each open trade. New subscribers get a 30-day money-back guarantee so you have nothing to risk. For all the details and to start your gold report subscription today, visit the front page of TFNN.com. Don't let gold's next big run pass you by. Sign up today. Since 1984, Basil Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion. While originally hand-drawing charts from the late 1970s into the 1980s, Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later, Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls. Thus was born the Chapman Wave sequence. Using the Chapman Wave methodology along with other indicators, Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now, you can get a two-week free trial to the opening call, Basil's daily trading newsletter, by visiting the front page of TFNN.com. Cancel at any time during that trial and pay absolutely nothing. Get your two-week free trial to Basil's newsletter, the opening call today by visiting TFNN.com. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. ["Think or Swim"] Hi, folks. Tommy O'Brien joined by Basil Chapman this morning. We got markets pretty much hanging around where we were all morning, Basil, with the S&Ps right now sitting at $29.99. And I wanted to briefly, Basil, you do such a great job, of course, on your daily newsletter. I have it up here. Let me pull it up. And folks, Basil, he does this program with me today. He's going to be coming up at noon every day for the Tiger Technicians hour, and then he's filling in for Tom at 4 o'clock today. And how does he cover all that stuff? Because Basil's got a plethora of information. But check it out on the front page, folks, the opening call. And I just have some of the webinars that you've done, Basil, for your subscribers. One just even last month talking about the tide, so subscribers gain access to all of these webinars, folks. Check out that opening call on the front page. And, of course, Basil's charts that he's talking about every single day. Saturdays, Sundays, sometimes. He's putting out updates for subscribers. And, so, Basil, what are we talking about on the Tiger Technicians hour? Along with, of course, everything that we already covered that's going on in this market. It's very important. Look at the IWM. It's down to $1.24. This is the Russell 2000 at $154.42. It's been stuck in a range. The Dow would, in fact, it's 134 up right now. But the S&P is only up 2.50. So the Dow should really be up about 30 or 40 points. So it's got other factors within the other components within the Dow that are doing well. This is the kind of action that I like to look at for subscribers. It's really important that we focus on levels of support and levels of resistance. And I've just made it real clear. If there is a really big power move for the next couple of days, above 27,270, then the turnaround will be stalled. But if at any point we start to decline quite sharply, S&P breaks some key support levels, I think we're in for at least a choppy period. And that's kind of what I'm thinking. We're in for a little choppy period for a couple of weeks. And it'll be interesting. We've got Powell in front of Congress. And I saw, he's got headlines. They're gonna be making their way all day today. Oh, good. I like it. That's right. Basil, thanks so much, man. We look forward to the show at noon and at four today. Thank you very much, Tommy. Thank you, folks. Stay tuned, folks, live programming all day at TFNN. Have a great Thursday.