 The following is a presentation of TFNN the morning market kickoff with your host Tommy O'Brien Good Friday morning everybody. I'm Tommy O'Brien coming alive from TFNN 906 a.m. Friday We got about 24 minutes to go until the starter trading non-farm payrolls Friday We get more than 300,000 jobs added the market likes the numbers 3.7 percent unemployment We'll get into them in a moment, but you look at the acceleration from yesterday's lows to the spike We got this morning. You're talking about almost 100 S&P points as we did get above 4,000 on the futures just for a moment. You spiked about 30 points on the S&Ps to the upside We came into that report basically flat you see the action overnight you accelerate higher into the close to about 39 70 You talk about a tight trading range about 10 points from where you were at about 6 p.m. Eastern time last night We open Excuse me. We get Non-farm payrolls day 30 accelerating higher this morning NASDAQ about seven tenths percent right now turning at 12,380 Hopefully I can keep there. Come on connect with me. Let's go. There we go. NASDAQ 100 yesterday We were flirting with an 11,000 handled 12,017 within about 20 points this morning. We're almost 400 points higher 12,380 at the NASDAQ 100 higher by 7 tenths Dow higher by about 7 tenths percent as well the Russell positive by 8 10th percent we jump to commodities currencies Bitcoin above 20,000 yet again 20,260 we jump over to crude catches a little bit of a lift as well this morning How about crude the pullback from Tuesday to Thursday? $12 almost $11.50 a little bit more $11.60 what 68 cents? Yeah, crazy action of the cruise mark crude market. We catch a little bounce and boy you want to talk about You know bounces that are possible man even getting back to the 382 of just the move We had over the last 48 to 72 hours. You're talking about up to 90 bucks. You make it to the 618 That's 93 17 and that's only looking at movements that are happening within three to four days We're sitting at 89 23 in the price of crude gold contract a little bit of a bid this morning from the lows yesterday 1699 was the low yesterday. We're trading at 1718 up $9 on the session and we jump to notes and bonds We're seeing a little bit of higher price and lower yield right now We're looking at a yield of about 3.25 percent. I mean all things considered We did get a spike lower at one point yesterday, but you were basically chopping around right near 116 You see the volatility. Let's put it on a five minute to see the action since 830 Volatility both directions the market straight shot upward We actually had the 10 year spike higher in price spike lower in price We're now about five ticks higher than where we were trading coming into that 830 number and let's jump over to the VIX We've been on an upward trajectory in the VIX and today we may get our first pullback Yesterday you did get a pullback, but you opened yesterday at 2688 so yeah the market charge tire you did get a pullback You were just chopping around near the 26th level though today Actually giving back a lot of the gains to 2399 right now on that volatility index All right, let's jump around to the actual numbers of the jobs the headline number. You're gonna see out there 315,000 jobs Exceeding estimates estimates were pretty close actually as you come in here Yeah, the CNBC has just below the estimate of 318 and Bloomberg has Exceeding the estimates not sure if they even put it in here in terms of the number Nonetheless pretty strong number in jobs unemployment rises to 3.7 percent that a factor of more people joining the workforce a broader measure of unemployment. What's at the u6 rate? I believe that one is that includes discouraged workers those holding part-time jobs actually rising to seven percent from six point Seven wages rising, but only point three percent for the month and five point two percent from a year ago point one percentage points below estimates I Mean point three percent for the month is still wages for the last 30 days rising at an annual rate of 3.6% right multiply it by 12 you get 12 months in a year if you rise in point three percent on a monthly basis wages right now Still at a three point six percent clip on an annual basis But that's down from an estimate of four point eight percent because if he came in at point four percent Seems like small numbers and there's a lot of variance in those numbers But pay attention to them on a year ago five point two percent wages not keeping up with inflation part of the problem in terms of real wages What's happening where the jobs are from professional and business services led with 68,000 healthcare? 48,000 retail 44 leisure and hospitality that had been leading the jobs recovery for a while just 31,000 for the month after averaging 90,000 in the previous seven months Now I'm not sure if that's an indication as we can come into May be Disnality, I'm not sure that build up to the summer acceleration of Leisure and hospitality, but nonetheless you still have that going on people still want to travel I'm sure and so you see that actually lagging down from a big number of 90 over the previous seven months You're sitting at 31,000 for leisure and hospitality Manufacturing up 22,000 financial activity 17 wholesale trade 15 I mean big gains across the board for numbers in this economy with 315,000 added now Where does the conversation shift the conversation shifts? To 75 basis points and scrolling down the line here bloom burst Five features here What is that it probably bolsters the case for 75 basis points here we go Cross assets reporter No floor so head of macro research at long bars some asset management the economy still doing reasonably well at least well enough to still be Producing inflation today's payroll numbers and the ISM figures are both pointing in this direction and give more ground to the Fed I tend to pretty much agree with that folks 315,000 jobs added wages still going up by point three percent a month very healthy economy even though the market's a little freaked out about the Capital and rates going up that is not the feds mandate the feds mandate is full employment We're still at 3.7 percent. Okay, even the u6 rate at 7 percent right now Historically, okay low and you fast forward to the CPI numbers which are 8.5 percent So they got to keep bringing it I would imagine CPI we get in 11 days, I believe yes We come back we're coming into a long weekend close for Monday going to be really interesting to see how today goes with three days off Considering the volatile trading week we've had remember last week We were at 4,200 coming into the Fed on Jackson Hole We trade down 300 points and since then we've popped now over 4,000 at 4,001 can we hold on to those gains? I Mean maybe that's just a sigh of relief because one of the things that I was talking about yesterday to think about the possibility of right bad News used to be good news for the stock market prices bad economic news used to be good news for stock market Prices, I'm not sure that's going to be the case now. This is good news which is Now may be good news for the market because before the feds path was always determined Right by maybe the economic data we were getting so what if the feds path? They're pretty confident is going to be 50 to 75 basis points for the foreseeable future and They're going to delay cutting over the period of X months Well, what happens is we know what the feds going to do the market price that in maybe that was part of the acceleration from 4,200 to 3,900 now. Yes, what happens now since the Fed is on a path That they're going to wait for multiple data points to be sure that inflation Which is sitting at 8.5 is on a path to 3 B or 2 percent that may be many data points They're going to wait for but guess what? How's the economy doing? Well, we got some good economic numbers That's good for the market and it's not indicative of a Fed potentially It's going to ratchet up stay tuned. We'll be right back Vista Gold owns and operates the largest undeveloped gold project in Australia the Mount Todd Gold project Vista Gold just completed their feasibility study resulting in a 7 million ounce gold reserve Vista Gold has all major permits approved and has retained CIVC capital market assistance in evaluating alternatives and in completing an accreted Transaction Vista Gold trades on the NYSE American and TSX under the ticker symbol VGC Vista Gold executing a strategy to create shareholder value 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 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 Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019 Finishing it number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of Trading knowledge every day it is mastering probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter Mastering probability and you'll receive access to seven of Steve's educational webinars Absolutely free at tfnn all our newsletters come with a 30-day money-back guarantee So you have absolutely nothing to worry about visit tfnn.com and try mastering probability 30 days risk-free today tfnn educating investors tfnn has launched the Tiger's Den hosted 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 The Tiger's Den available to all Tigers and Tigris's for just one dollar for the year 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 get the S&P futures up near 35 points. That's almost nine tenths percent in the positive Nasdaq 100 12,392 that's eight tenths percent Dow up eight tenths percent as well in the Russell up nine tenths all the indices Eight to nine tenths right now in the positive jumping over the headline from Bloomberg I agree hadn't seen it all eyes on CPI after jobs data barely moves the Fed needle. I Mean you could say that this was the expectation and they just nailed it And so we just moved to the next data point to see what happens and yes, we got wage wage data wage data Less than the market was expecting okay inflationary tendencies almost more important right now than how many jobs we're getting How much are people making is there a rise in wages that will correlate into a rise of the price of goods that you're purchasing and From there we go to the CPI numbers so we come back September 6th from the long weekend a week from then Tuesday September 13th We get the CPI numbers for the month of August and then we have a Fed meeting one meeting one Week after that and so that's where things go from there That was just pausing because the tenure yields it is interesting that they don't move at all right We see a market acceleration higher and yields stay the same throughout so it's almost I believe a relief rally in Terms of the market has priced in it's 50 to 75 basis points And that's going to be the talk right now and it's going to be a close one And the CPI is probably going to be the data point that decides that so put it on your calendar man 11 days from right now To see where that goes and this chart was just talking about the labor force prime age participation highest since pre-pandemic labor force participation participation rates last month by sex for various age groups on A seasonally adjusted basis so the prime age is the highest since the pre-pandemic you can check that out of Bloomberg interesting data They break it down from every single four to five to ten years a 20-year bracket of ages All right, let's jump around to see what else we have going on and talking about the pound So I talked with our man Teddy keg stat on Wednesday If you haven't tried out the Tiger 4x report folks check it out 4x so important in this market in terms of how currencies are impacting markets Commodity yields, etc. How yields are impacting currencies and therefore Sterling's clap to 115 shows UK market to spare runs deep now It is interesting. Okay as this market continues to drift higher as we got the S&P up at 4006 right now It is interesting if you take a look at for instance, we'll start with the euro as we're literally a parody We almost made it to 99 yesterday. Okay now we jump over to the dollar index Dollar index is backing off a bit. You almost traded to 110. We're back to 109 That would make sense that as we have the dollar weakening a bit. Okay off of the highs What do we have? We have the dollar weakening a bit. We have the euro strengthening a tad bit. I'm gonna sneeze here. Excuse me excuse me and Putting this on a longer-term basis. Okay, there is your euro US dollar We first got to parody around July 14th amazing six weeks ago time is just flying folks, you know, it feels like We started this year off with a huge negative acceleration And it feels like that really hasn't ever ended even though we traded from 3,600 and changed to 4,300 almost in the S&P's You could call that a relief rally, especially as we just dove down to 3,900 in the time being But man, it's almost September and it feels like the year has been an acceleration right from the get-go. Nonetheless It's already September. We've been trading a parody for the euro for six weeks But look where we are on the euro. Okay, which is basically a parody where you were July 14th Look at the trendline that we're in in the euro. Okay chopping around a bit basically where we've been since August 22nd And then you compare that to the pound But you've got a lot more weakness in the pound right now even more than more so than the euro And you are breaking well below right now where you were on that July 13th July 14th low on the pound dollar You're at 118 the article. I just pulled up was talking about sterling at 115. You're at 115 65 You were as low as 114 98 on the acceleration yesterday Where that falls man currencies Sterling sides of anxiety across Britain's financial markets UK assets less investable is what's going on here And they're gonna have a new prime minister just stays away from taking that you're at 115 And there's the chart I just showed you man And it is interesting when even when you compare it to the euro to illustrate how much trouble the pound is in Okay, they're talking about assets less investable fixed-income portfolio managers talking about that Impending recession the weak pound they have huge inflation over there You're gonna have a hawkish Bank of England very negative for the UK obviously Allocating towards UK assets very difficult right now. They are in some big woes over there Europe is as well pretty remarkable though when you actually think about that The pound is in worse shape than the euro right now, and that's the case for sure Stay with current currencies. Let's jump out. Well, let's jump back to the dollar real quick Because yeah, we're seeing a little bit of dollar weakness here. Okay, that's giving a lift to our markets That's giving a lift to gold as we're at 1723 right now. All right. This is why folks I know I plug it occasionally But currencies right now, you know Just a very opportune time to walk through what's happening with currency seeing how gold's getting a lift in the same way, right? We jump back to the end you jump to the end. What's happening with the end the end is gonna be pulling back I'm sure There's your pullback. Okay from 140 80 to 140 oh five That's quite a little drop off right now on that CPI data as we're getting a number of spike to 140 oh eight And just like that the end almost gives up a full point But remarkable the high we made almost 141 there in the end We were just trading folks August 11th at 131 right just huge moves across the board when you have that type of Dollar strength versus the yen very difficult for gold priced in dollars To rise on any severe level and that's why you've seen quite a pullback in gold We've been talking about that you take a look at gold you put it on a three-year weekly Okay, put it even on a five-year weekly to see the full run this thing had from 1167 you chop around For a period of a few months almost you break out of that in November of 2018 There's your covert volatility not even really too volatile considering Many other markets and how it looked on the chart. It was a one-way trip some covert volatility in March of 2020 You accelerate to 2089 now again you talk about time flying folks We're in a two-year consolidation in gold right now And what did you do? You just came down and touched the 1700 area in gold 1699 10 is the exact low we've hit that area once twice three times over the last couple years Now, yes, you broke below it by 27 dollars occasionally But when you're talking about a $300 range from 1700 to about 2000 on the upside We're right near that price level right now and when you look at where we are in currencies, right? risk reward wise Do I think the euro is gonna gain strength anytime soon? No, I don't but you got to keep in mind We just dropped from 122 to parody in the span of just over a year. I Mean the end's even more crazy the pound is even more crazy Maybe you can drop to 95. Maybe you dropped to 90. Okay, but risk reward wise you are getting to an area and Time is gonna fly folks. Okay. It's September of 2022 Even if the Fed saying we're not gonna cut for a period of 12 months Well, 12 months comes and goes, you know, we get three quarters. Then we're nine months in Point being at some point these cycles will reset as in the US will get to a point that we tame inflation Especially with the Fed's new stance. Okay Maybe it's been their stance all along, but they're reiterating it where the market understands it and when that happens Maybe we'll have to cut 12 months down the line And maybe the dollar will lose some strength and maybe currencies will react Maybe that will hit commodities. We'll come back for the open folks. Stay tuned In a time of booming inflation we are purchasing powers eroded. There's no better place to protect your hard-earned money than ain't gold This the gold flagship asset is a month called gold project in the northern territory of Australia This is Australia's largest unveloped gold project. We are talking a world-class gold project in a tail-one mining district This is a large-scale low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction This the gold just completed the Mount Todd feasibility study Which resulted in a seven million ounce gold reserve in a 16-year mine life All of this combined with the approvals of all major operational as well as environmental permits This distinguishes Mount Todd as an attractive dearest pot ready development stage gold project This the gold trades on the New York Stock Exchange under the symbol VGZ TFNN is excited about our new software charting program the art of timing the trade charts in Collaboration with Tom O'Brien and using his best-selling book the art of time of the trade your ultimate trading mastery system David White has programmed an outstanding piece of software that will complement any trader's methodology Using this first-of-its-kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci Formation setups including guardleafs ABCs butterflies and much more the art of timing the trade charts is designed to help you when Scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks or even months Searching to find and right now we're offering licenses available at only $79 a month. We are so confident that you're gonna love this new charting software that will even give you a 30-day Unconditional money-back guarantee don't miss out on this incredible new piece of software Get your copy of the art of timing the trade charts today by visiting TFNN comm 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 You'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either TFNN airs live financial content streamed live on TFNN comm and TFNN's YouTube channel with Tiger TV Live every market day from 8 30 a.m. To 4 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 comm 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 comm Welcome back folks. We got markets open. You're looking at excuse me S&P up by 35 points right now We catch a lift accelerating higher on the non-farm payrolls number just above 4,000 but as we open markets giving it back a few points We'll see where we go throughout the day. We jump to commodities go contract up about ten dollars We got some currency movement this morning. You have some crude movement as well We make a low of 85 98 yesterday. We're up to 8906 So jumping over to the crude story. This is an interesting one I don't pretend to understand the fundamentals as well enough to know how this will work But I'm not sure you can cap the price of oil if there's huge internet huge international players Like China and India that may not be on board But you have the g7 backing a price cap plan for Russian oil to limit it revenue But some of the analysts in here and going through this earlier today are talking about Here we go, but it remains unclear How effective a price cap regime would be particularly since some of Russia's biggest buyers have agreed to join India Reluctant to formally join a price cap scheme since its industries worry It could lose out to other buyers on the chance to buy discounted Russian crude And then you have China in there of course as well But nonetheless that is impacting the price of crude today to see how that plays out and all I can say is man the war with Russia it's gonna impact crude for Years to come probably in that and I wonder how that's gonna play out in terms of we're gonna continue to see that Type of volatility and look at this market. It gives it up pretty quickly to the tune about ten points on the open Right now. We'll see if we hold on to these gains Not too surprising with jobs number in Terms of does it change the scenario? I mean Kevin Hicks had a great comment yesterday saying What changes the narrative tomorrow? What would change the narrative speaking of the jobs number we got today, right? What in that jobs number could change? Where the Fed is with their mentality is and I don't think there was anything possible really outside of a huge miss That was not very likely and we don't get it all we get basically what the market was thinking a few hundred thousand jobs added 3.7% unemployment wage growth a little bit tame and We go to the CPI number man and the CPI decides whether we got 50 or 75 basis points and hopefully The companies can be under this type of an environment because I don't think the Fed is going to be swayed If they have a tough three six nine months down the road Because the economy is indicative of a very strong economy right now with the amount of jobs that we're at it Okay jumping to yields Global bonds talked about this they were close while they're there now global bond index drops 20% It's in a bear market for the first time In a generation from the January 2021 peak And this is the global aggregate total return index from Bloomberg that high made Well, they say January of 2021. I believe yes the biggest drawdown since its inception in 1990 and you know in the conversation I had with Kevin yesterday. I mean folks we got You know, I take that article and we also got this article here with the bonds at the two-year Okay declines from a 14-year high after the job support comes in as expected It hit 3.5 5% folks the two-year and the ten-year After closing at 3.04 last week was as high as 3.29. So you get the ten-year 3.25 about right now You have the two-year Excuse me. It looks like sitting about 3.42 Right now and the ten years gone to about 3.23 There's some pretty decent yields right now, man 3.5% over a ten-year basis. My expectation is the Fed is going to get inflation under control folks On a fixed income basis, you know some pretty spicy returns, especially considering what we're used to for so long I mean for the longest time You know putting your money I mean Larry Pesant our man was saying it all the time right negative makes no sense We didn't get there, but even our tenure half a percent three quarters percent the poor unfortunate people folks that Ever decided that things were too bad as as COVID hit the market collapsed They sold out at the market at a loss and went into something like fixed income. I mean even just you know Pulling up a random bond funds right bond. That's Vanguard's total return bond fund. I think You go into this thing for for safety in the year 2020 and the market accelerates higher and what happens you go and you go from 88 to 74 Man as you you know go to fixed income for half a percent At a time a year later it takes off to 9.5 percent inflation and we have yields now the tenure of 3.5 percent Some of these numbers. I mean you look at some of these charts on some of these Bond funds a particular man. We look at this one You're way below anything bonds have been in a bull forever and man They just whipped back like we haven't even seen you talk about the 30 year All right, there's a break for you. All right, the 30 year is sitting at prices right now These are futures. Okay, but you were at in 2008 and you just accelerated through a trend line You had been in since the year 2000 you break through that come back and test it and we're now basically at lows again It's gonna be interesting this market not really indicative of a strength on that number as it's all been negative action on the open So far we're up 17 points in the S&Ps the Nasdaq 100. We just gave up a quick hundred points 12,000 324 you're up by 33 points right now in the Nasdaq. Let's check some of the fang stocks See how it trade in Amazon with a lift this morning up 1.1 percent Microsoft up half a percent half a percent Apple all the fang stocks pretty high Which is interesting when you look at them even the Nasdaq 100 It's only up by three tenths percent near the big dogs higher Google shares Excuse me up by one tenth percent so far this morning Netflix opens lower. Let's see how this growth stocks arc a little bit positive zoom flat this morning's Draftkings up a little bit Roku shares down 1.5 percent some of Kathy would other Teledoc up about half a percent so far See how the banks are trading Bank of America 1.2. There's a lift for you man. Yeah, JP Morgan up a percent right now Even Wells Fargo see all the airlines dealt up about three tenths percent American barely in the positive. Let's see how the oil companies are trading right now Exxon their op as oil gets a lift Exxon up about two percent now Look at where Exxon is right compared to where the price of oil is you could say that Exxon very near the highs of oil Meanwhile, we'll go to 130 bucks at one point Even Chevron now you want to talk about There's an acceleration of 157 182 just crazy moves all year. This thing started it under 120 in the year Pretty interesting action. We're getting higher price and lower yield in the 10 year right now That's talking about a yield right now of 3.22 percent after being about 3.25 percent to start things off over in Europe Big moves to the upside Dax up 2.5 percent footsie up 1.5 percent cackerel up 1.3 percent Asia pretty much flat overnight on the action Yeah, gold continuing to rise. Let's check out of the dollars moving. We get action everywhere right now, man Dollar continuing to drop a bit when negative 46 pennies at 109.22 Euro sitting right a parody And the S&P holding on to gains of about 22 points not bad when you think about the run we had yesterday We're still 90 90 more than 2% off of the lows We had less than 24 hours ago at 11 a.m. Eastern time. Stay tuned folks. We got a quick break. 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 after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all 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 and stock prices get the opening call newsletter by Basil Chapman and 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 Technology around us is changing every day with so much happening. I can see no possible to keep up with all the information David White's investment newsletter the technology insider is designed to give you all the information you need to understand the technology That shapes today's markets and tomorrow's future David White has made his living staying on the cutting-edge technology His weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week You can get the technology insider at tfnn.com for only thirty seven dollars and fifty cents Sign up for Dave's newsletter the technology insider and get an inside look at everything the technology sector has to offer Try it risk-free today with our 30-day money back guarantee tfnn educating investors Will the S&P 500 continue to climb for bold trades on us large cap stocks in either direction trade SPXL SPUU or SPXS Directions daily S&P 500 bull and bear leveraged ETFs Direction leveraged ETFs an investor should carefully consider a funds investment objective risks charges and expenses before investing a funds Prospectus and summary Prospectus contain this and other information about direction chairs to obtain a funds Prospectus and Summary Prospectus call 866-476-7523 or visit Direction investments comm 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 principal 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 get the S&P's continue with a slide a bit right now You're up by 15 points the Nasdaq 100 you're only up by 14 points and that's barely in the red We might go negative as I speak right now and that is with Apple up 3quarters percent having a big impact there right you get Amazon up half a percent right now You have Google shares up. There's Google. All right. They turn a little bit negative Microsoft though in the positive so you get Apple Microsoft Amazon all in the positive so far Netflix not really a a fang stock to the same degree anymore But look at that drop man growth stocks. You're about to go negative in the Nasdaq 100 It was only positive by two points there and Netflix down 1.8 percent right now Disney down about three quarters percent right now Jump to some of the other streamers Warner Brothers down about two tenths paramount down 1.1 percent right now Excuse me. Yeah, everybody getting quite a Pullback on the open meta shares. There's a pullback for you from about 168 to 164 now meta the news interesting They're striking a deal with Qualcomm pulling up this story To make custom virtual reality chips for metaverse applications So meta and Qualcomm are teaming up to develop custom chips chips chips sets for virtual reality products Meta Facebook going all in of course and so the quest products are meta's line for virtual reality headsets the meta quest to Headset currently uses Qualcomm's snap dragon XR to chipset And I think I have what do I have Have one of them. I haven't even down somewhere here the Oculus Oculus Quest 2 that is what I have The Oculus Quest 2 and it's pretty cool folks. It is But like a lot of things it can take a lot longer than you may imagine to turn that in I mean imagine Amazon bought Whole Foods five years ago, right? I thought about that I said man things take a lot longer to transform sometimes and this might be a 10 to 20 year journey in In Zuckerberg's all-in man, but it could be a 10 to 20 year journey of spending money to make the experience What it needs to be to take over right? It's it's kind of that last mile of virtual reality Where it's pretty cool right now, but man once you get into the area where it's completely immersive it could be Life-changing for many but that is some time to go for sure and jump it back to the Fed So traders pairing the Fed hike bets after the jobs talking about the expectation of where you go 65 basis points is what it is right now So 75 as in the expectation is for 65 right and even split would be 62.5 between 50 and 75 so the odds actually slightly tilted to 75 But slightly less so than before the labor market data. So it was a little bit more tilted to that side Fred and Fred and treasuries gained in the wake of the data pulling down yields a bit That's where you have the two-year pullback a bit Right. We had the 10-year pulling back a bit as well as it was at 3.25 but as our man Basel Chapman says folks the day is very young and Taking a look at yields. There's your pop But we're almost right where we were within the nine o'clock bar in yields when we were sitting at 1 16 13 We're at 1 16 14 right now You actually spike to that level right on that jobs number to 1 16 14 where we're sitting at at 8 30 So you're just kind of back to that first spike that we were in to start things off All right jumping around to some of the other companies that are moving this morning We jump over to Lulu lemon you talk about some action man out with their numbers last night strong numbers They deliver they're up another 10% today Now you're only back to where we were at the middle of the month But that's before the market sold off from 4200 to almost 3900 on the S&Ps We've bounced a bit, but you've claimed all that back to 324 still well off the highs for Lulu lemon from 45 You put this thing even further back on a five-year weekly You see where this thing has come from man And where do you pull back to folks right to the 618 of the entire move higher from COVID from a low of about one What one third what's our low there 128 to 485 we back all the way down to that 618 line at about 265 we chop around there for a couple months and since then we've got a nice bid 324 on Lulu strong numbers out there. Yeah, what else do we have? Marathon oil is higher oil companies going to be higher of course with the price crude rising a bit and On the flip side of that some of the China stocks JD. I know they were lower jumping around Yeah down by 3.7 percent 3.1 percent JD and even what dish was lower as well Yeah, look at that drop off of 3.7 percent moving lower while the market seemed to look through a Stabilized a bit. We're still up by 20 points. We were up by almost 40 points coming into the open still above where we came Into that jobs number pretty interesting to see what happens today as all eyes point towards the CPI number folks 50 or 75 basis points And we go from there So it's going to be an interesting week next week when we come back We'll come back on Tuesday and we'll have a week of trading leading into the CPI And then we have one week after that the Fed meeting in September and we'll see where we go Let's see what else I had pulled up here in terms of action going on Talked about oil while this one's an interesting one in terms of how much money was out there as we had the pandemic only fans Their owner $500 million in dividends not bad man now this site if you're not familiar to social media side People who are creators or have their followings of their own they create an only fan site you can pay for a subscription Most of the graphics on their pornographic in some degree right some not some whatever it is well last year Pretax profit four hundred and thirty three million dollars in the year end 284 million in dividends for the period and additional two hundred and thirty three million in 2022 through the end of August not a bad business man this thing exploded during the pandemic only found it in 2016 they offer a portal for people to sell subscriptions for content And they take 20% of the cup the content creators get 80% Revenue 932 million dollars from 358 a year earlier They were thinking about going public at one point and they were gonna get some private equity money And they were thinking about swearing off pornographic material There was a revolt they reversed that within about a week man And I imagine so why do you need to go public if you're raking in 500 million dollars in profits? That's not what the company is worth that's straight out profits that are already taken out of the company right you could go and sell that company The dividends are out. He's already made half a billion dollars This gentleman not bad some remarkable money out on the internet man All right, what do we got pulled up here? We talked about the jobs bonds yields Let's take a look at some of the currencies and see how they're moving again as currencies are always jumping around right now We jump to that DXY We're sitting right at about 109 24 URL still sitting at about parity right now and we'll jump to the yen real quick US dollar yen Yeah sitting above 140 backing off the highs and you know, maybe we just take this number and stride The market's already sold off 300 points from where it was before Jackson Hole We've now gotten a little bit of a lift as we've Gotten past one of the big data points that we needed which was non-farm payrolls Okay, I mean the last thing that the Fed wanted to see was hot wage data or something like that Maybe they you know, you wouldn't want to see if you're the Fed Five or six hundred thousand jobs added and huge wage growth That wouldn't mean that they have more work to do in dramatic fashion So we get over that hump the market gets a little bit of a relief. We rise from thirty nine hundred to four thousand Now what happens as we come into the CPI debt and a long weekend We'll find out we got one more segment stay tuned folks will be right back TfNN has just launched their new trading room the Tigers end hosted 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 Tigers stand available to all Tigers and Tigris's for just one dollar for the year There's no catch or added costs when you join our community of traders in the Tigers Then you can look over the shoulders of Tom O'Brien and the other TfNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas interact with other Tigers and Tigris's as they share trading ideas news analysis and discuss the market action all Trading day even at night and on the weekends the Tigers and at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of TfNN comm You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all 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 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 get the S&P's up 21 points right now sitting at about 3990 we get the Nasdaq 100 You almost got into the red but it saved itself. We're up by 50 points That's four tenths percent the Dow up about half a percent right now 3811 the Russell hanging on by a few points as well Bitcoin up about $550 at twenty thousand two fifty crude up two dollars pulling back a bit from the spike We just got though we were as high as 89 60 we give up about a dollar since I've been on the air Those eyes were at 88 57 right now the price of crude and gold up about $12 as we have some currency action as well And and check out the moves in yields, man We got a rise higher price lower yield the ten year 3.2 percent from above 3.25 percent interesting a little bit lower yield Following that jobs number higher market lower yields Pretty interesting how things are trading in tandem here as in you know, where do you hide the price of markets? indices trading lower the price of fixed income trading lower Together and what do we get this morning? We get Higher price in the markets with a lower yield number Not too surprising. We'll see as the trend continues. We jump over to the VIX this morning volatility index sitting at about 24 And you're talking about lows that we have not seen this week yet So something to pay attention to as maybe we sail into Friday of a long weekend and folks If you're out there this weekend if you're in a car if you're out on a boat No drunk driving prepare for it You know if you're going to a scenario where you're gonna have a couple drinks make a plan for it You can always leave your car You can always take a couple of an uber get it in the morning Life is too great to blow it on one night for a few cocktails, especially on a holiday weekend And especially out on boating be safe out there as well Sometimes that's even more dangerous sometimes so we can all see you back here on Tuesday But before then we got a full day of trading man. We got six hours and three minutes left of trading We got live programming today. We got an S&P up by 20. We got the Nasdaq 100 up by 51 the Dow up by 143. Thanks so much for starting your trading day with me folks. Stay tuned. Basil Chapman up next