 The following is a presentation of TFNN. The morning markets kickoff with your host, Tommy O'Brien. Good Wednesday morning everybody. I'm Tommy O'Brien, company live from TFNN. Just after 9 a.m. Eastern time, we got markets accelerating higher. We might get an all-time high print in the next few moments. We got the S&Ps up by 20 points right now, trading at 49.94. That's a gain of about four tenths percent. You see the acceleration on a five-minute basis. The run begins at about 7.25 a.m. this morning, and since then, we're up about 25 points on the S&Ps approaching that 5,000-point mark. NASDAQ 100, we're up by about 95 points. That's about half a percent higher, trading at 17,000, 7.65 right now. You jump over the Dow, up by 80 points. I got to reset this. Anytime I hit the last, it thinks I'm trying to buy the thing or put in a bid. We have the Russell, up by six points this morning, up by two tenths percent. Little trading at 1967. You jump over to Bitcoin, just chopping around this week at about 43,000, 365. You jump over to the crew contract, positive by 57 pennies, 73.88. We jump over to the gold contract this morning, gold. Yeah, I got to reset that somehow, always popping up orders. Gold, up by a dollar right now, at 2,052, we're as low as 2,030 yesterday, talked about on the program yesterday, right, taking a look at the dollar index, taking a look at the gold. We got the biggest 10-year auction ever at 1 p.m. eastern time today. Interesting to see how that auction goes, how the demand goes for that auction, how that's going to impact possibly yields. We have FedSpeak going on today as well. We'll see how that impacts yields and as we know, yields drive the dollar, drive commodities to a certain degree at least. No Tim Bohns speaking of. Yeah, I got to fix that one, man, they keep popping up. The 10-year, negative by two takes this morning, we're dealing with a yield on the 10-year of about 4.11%. We were at about 4.15 yesterday. We were at 3.8% when this thing was at a high last week of 1.1306. So still, at above 4.1%, the yield on the 10-year, you get the 2-year, let's see where it is pulling up right now on the yield curve. I think we got the 2-year at about 4.16 or something like that. Where are we? Excuse me, 4.41. Yes, 4.41% the yield on the 2-year, yeah, 4.16, that would be basically the 10-year, that wouldn't make sense. 4.41 on the 2-year this morning and that is basically flat on the 2-year. And we jump over to the dollar index. As I mentioned, DXY, backing off a bit. So interesting to see, you know, when I was on the air from 9-10 folks, right, you had the dollar at 1.0440. And one of the things I was talking about was saying, man, dollar index has really accelerated higher. We had the gold contract chomping around. If you do get a potential pullback in that dollar index, look for potentially that you could get a lift in that gold contract. We get off the air at 10 o'clock, you're 2056. Interesting though, right? We were right back to where we were at 7.30 this morning. The point being that even as we continue to see the dollar behaving, it seems like the dollar right now, to put this thing on a daily basis before we jump around to some of the news of the day. And boy, we got a lot of headlines, man. Almost right at that one, excuse me, 618 retracement, 104.73 and we might have a little bit of a rollover, man. Now, what would that mean? That would mean a weaker dollar, which should be happening at the same time as you get decreasing yields. And maybe that was your acceleration, right? Maybe that was your market getting ahead of itself as in the dollar trades from 107 down to 101. You push back almost to a high of 104.60 and that gives you the impetus maybe to make that run eventually lower. And that is from what? About six weeks. December 28th. We're down there in the dollar at a 100 handle. We just almost got to 104.60 and we're backing off a bit. We're right at 104 on the dollar. All right, we got a lot to talk about. Where do we kick things off? Let's jump to the headlines and see. Let's kick it off with Disney. Why not? Interesting action in terms of how the whole spectrum of streaming for sports is going to change. Many investors search for clarity on elusive streaming profits. All right, now they report on Wednesday. But how about the deal out there? They're teaming up with Fox. They're teaming up with Warner Brothers. You got Fox and Warner Brothers trading higher this morning. That's Max. WDD. Yeah. So here's Warner Brothers Discovery. There's your acceleration yesterday on the news they're teaming up with Disney and Fox. There's Disney. Actually trades lower on that news from 99.75 down to 98. He had a little bit of premium in here that they were just going to unload ESPN, right? You always hear that talked about maybe Apple would be the buyer of Dan Ives that been out there pushing that for a while. Makes a lot of sense, but doesn't seem like that's what's coming down the line right now. They're teaming up with Fox. They're teaming up with Warner. And it'd be interesting to see how the details of this come out. The jokes running last night rightfully so are, hey, guess what? We got this great service for you. We're going to bundle all these different channels that you're going to love and we're going to charge you one elevated fee for all of it. We'll call it cable to something to that degree. But nonetheless, things are changing. And if you're a sports team out there or you control sports rights, you're any one of the leagues, right? You're the NBA, the NHL, even the NFL. Probably don't want to see all those competitors. There were at one point competing for those rights. Teaming up together going to be less competition. You still got plenty of participants out there. Apple, Amazon, Netflix, accordingly. But nonetheless, Disney, Fox and Warner Brothers, we'll see what they're going to charge for that. We'll see how it's going to come down the line. But nonetheless, Disney actually lower on that. You got Warner Brothers trading higher. And yeah, Warner Brothers, man, if you haven't tried Max yet, folks, it's pretty cool what they're putting together. So I cut the cord, do not have cable at home. We got about every streaming service that you can have. I mean, let me think about we got Max, we got Netflix. We have Prime, of course. We have Disney, of course, any others. I subscribed to Peacock for a month in order to get the playoff game that was on there recently. And so when it came time for New Year's Eve, right? I said to myself, you know, and this is where you're still learning about what's going on. I said, well, I wonder what's what I can get. Maybe I said, maybe Max, because HBO does do some live stuff. I know they do. I said, maybe Max. I watched Real Time with Bill Maher, Maher on there. And that's live. There's some stuff that they are on live. I said, maybe Max got something going on, right? Well, of course they do because that's CNN. And they had Anderson Cooper and Andy Cohn on their live for New Year's Eve. And then they have a bunch of sporting on there. They have CNN for live news. And I found myself saying I actually understood for the first time why Max got away from the HBO name because it is so much more inclusive of a number of different aspects. I think that stocks got a lot of potential in the future, man. And you're seeing a rise of what? Almost two and a half percent this morning up to $10 and 32 cents. They're going to deal with ESPN and with Fox and boy, that's going to control a lot of the sports spectrum out there. You're still going to have Peacock, but that's like five bucks a month. And maybe some other as I was listening to Bloomberg, they were doing some great discussions on this morning. This is going to be an expensive service, though. All right, we'll see if you get it. If you get HBO, there's still a lot of details to come out on this. We don't know what the price is going to be, etc. But nonetheless, interesting how it does change things going forward. So we have this market pushing higher. S&Ps up by 20 right now, Nasdaq 100 up by an even hundred on the open. Let's see how some of those fang stocks are kicking things off. You jump over to Apple shares. Fang, that's an old term, right? That's dating me. Imagine that you say the fang stocks and you date yourself at this point, folks. Apple up a dollar 20, not bad. You jump over to Microsoft shares up about two dollars. You jump over to Nvidia shares, basically flat at 682. And we got some Tesla news. Looks like they're going to be cutting jobs, man. Stay tuned, folks. We're coming back with Takenormand Kevin Hinks from the Schwab Network Fast Market. We'll be right back in three minutes. If you're looking for potential trading setups in the stock market, then Rocket Equities & Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities & Options Report today with a 30-day money-back guarantee so you have nothing to risk. For all the details and to start your subscription today, visit the front page of TFNN.com, TFNN Educating Investors. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. 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Yeah, we're going to knock on the door of $5,000 today. It looks like that's for sure. I don't know if we'll get through it or we'll close through it, but we're certainly going to take a run at it today. And frankly, Tommy, in terms of top-tier economic data, not much is getting away from this market this week. Most of the earnings has been relatively good, not snap, but Chipotle's having a good morning. Some of the bank worries from New York Community Bank, they pointed to new executive chairman. So that stock is up pre-market. I'm so sorry, some of that risk dissipating. But not a lot is getting away here, Tommy. So until we get some top-tier economic data or some earnings, we'll have some good earnings after the bell. Disney, PayPal, arm holdings are some of the names coming out with the earnings after the bell today. Those will be something to look at. But a couple of bond auctions, a 10-year vote. $42 billion in 10-year notes auction today. That'll come out around noon. $25 billion in 30-year bonds auction tomorrow. So there's that. But all things hit still, a lot of Fed speakers. One, two, three, four Fed speakers today. Neil Kashkari's already been outfucking on national TV this morning. So here we are, Tommy, working through a little chasm in terms of economic data. And the market seems to want to go higher. It's a great summation, man. I appreciate the roundup and taking a look at things. You beat me to the question in terms of Kashkari, Fed speak maybe, because I'm always trying to get your opinion on what's going on right now. And as you mentioned, a little bit of a vacuum, especially in terms of how much data we got last week, man. When you had Fed week, you had Jobs Friday. We had the biggest tech companies in the world, pretty much crushing it. And then a little bit of a lull. Where are you looking out to right now, Kevin? You made the great point. That's what I was going to ask you. What is on the calendar right now in terms of what can really maybe not surprise or drive this market or news? We're getting Fed speak. That's one of them. Kashkari talking about maybe two to three cuts, maybe a few more months of data as some of the headlines out there to give us the confidence or trying to put maybe frame where they're going to get that confidence from. But are you looking for anything, Kevin? We get the next meeting March 20th. That's a while away, man. Are we going to wait for the February data? How do you think about that right now as we go through this period? Well, you've got NVIDIA's earnings coming up here on the 21st. Normally, when you have a week of very no real top tier economic data, it usually leads to the next week being very heavy in terms of economic data. So there'll be economic data next week. You still got NVIDIA's earnings the last. And that stock has run since, boy, the last month. Sorry, there, Kevin. Hey, Louis, we might have lost you, Kevin. Maybe he's there. All right, if my producer can let me know. Yeah, check out that run for NVIDIA. This thing just doesn't stop, man. Maybe he's still there. I'm here. All right, perfect. Sorry, we lost you for a moment there, Kevin. I have NVIDIA, the run it's made from 400 to 700 over the last three months. Could you give us a little teaser on Disney, man? Some pretty big news last night on Disney, of course. They're teaming up with Warner. They're teaming up with Fox. That's where sports are going to go for right now. This stock, though, Disney trades lower. Even on that news, man. Talk about very difficult to find a bid for that equity recently off the lows of 78, but underperforming as we know. What are you looking for with Disney, man, as they're going to be coming out with their numbers on the heels of that big announcement? Down over a dollar pre-market on that news. Listen, these companies involved in streaming and all things, you know, linear TV, they have to figure this out. Because NVIDIA got the right, or I'm sorry, not NVIDIA, Netflix has the right, you know, they have the right business model. And just like, you know, we're going to see play out in AI. There's going to be winners and losers. There's going to be competition. There was a cautionary note yesterday out on NVIDIA talking about all the things, all the problems that could come up. So I think Disney is still in the process of trying to figure out exactly what, how they manage this just empty hole of money that is going into streaming, Tommy. Yeah, it's going to be interesting to see as we start to maybe get maybe a few more details tonight about that deal. And maybe the market, not a little disappointed almost that they just didn't unload that property to Apple or something like that. I'm not sure, but like you said, trading down about a buck 30 on that thinkorswim platform. You mentioned it, Kevin, but if you could go over it again, the stocks you're talking about Disney may be one of them, but do you guys have three equities coming up as usual on fast market today at 12? Like I said, it was going to be covering Disney today. We'll trade it in a middle second. We'll also look at Apple post earnings and what it's doing firming up here now in the market. And then we'll look at Apple that also has coming out. So three good names, Apple, Disney and PayPal today. I'm always interested in that payment sector, man. PayPal talking around, jumping around at 63.71. And I got it at 3.10 a few years ago, remarkable. Kevin, I appreciate the time on a busy morning, man. We'll be watching fast market at 12 today and I look forward to talking to you tomorrow as usual. Thanks for having me on, Tommy. Always a pleasure folks, check it out. You heard it, they're talking three great stocks. Apple, Disney, PayPal coming up at 12 o'clock today. They'll be setting up those trades. And yeah, pretty interesting to see how that goes out. Disney, you make that deal, you trade lower, man. Very difficult to find a bid across the board. So, Igor, not willing to give up that asset, right? Not willing to give it up to Apple probably just yet. Trying to do another deal that keeps it in the fold for right now, but the market says, we're down by $2 almost from where you were initially on that news, 9805 for Disney shares this morning. As opposed to, as I mentioned, you got Warner Brothers, you got Fox, both trade and hire Warner Brothers up to 10.55 actually last night, back to 10.29 this morning. You jump over, they'll be covering Apple as well. Apple up about a buck 30, this market, man. As Kevin said, we're knocking on the doorman. We're probably gonna knock on that door 5,000. Do we get through it? We get to find out when supply equals demand on the opening bell in about four minutes from right now, but you got the S&Ps, 49.96 folks within less than two points of all-time highs. And as I mentioned, so Tesla, fine, getting a little bit of a pop. Be careful on Tesla folks. I keep talking about it, okay? Be careful for Tesla is what I would say. The cuts are coming for sure. They got a massive demand problem here. And they are now asking which jobs are critical. Of course they're coming, okay? Managers have been queried on whether positions are needed. Sales growth slows as car market spends towards next growth wave. There's a lot going on in that company, man. And then the headline out here, this is almost like a troll from Bloomberg as we come into the open. I don't know what their market is supposed to be doing in Korea, but they sold one car. There is one Korean or one person living in Korea that bought a Tesla in the month of January. One, one single model. EV sales are hurt by inflation and that number's down to one in Korea. Nonetheless, anecdotal. But the cuts are coming for Tesla. They'll be saving some money, markets are up. We're ready to record highs. We're coming back on the open folks, stay tuned. Are you ready to take charge of your financial future? TFNN is your gateway to the world of trading and investing. Whether you're starting out or scaling up, TFNN empowers traders and investors of all skill levels with top-notch investing systems, strategies, and techniques. It's time to protect and grow your money with insight you can trust. Join us live Monday through Friday during market hours for exclusive content that moves with the markets. At TFNN, we bring the trading floor to you. Our seasoned hosts are here to answer your calls and questions live on the air. Check out the Tiger's Den for just $1 and follow us on YouTube and become part of our vibrant community. 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Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Welcome back, folks. We got markets open. We have the S&Ps. Futures just hit an all-time high, 49.98. We were in the 49.97 something range in terms of the highs prior. We're just at that level right now. Nasdaq 100, we're up 103 points. Making 105, 17,000, 779s. An all-time high, I think it might be. 793.50. Okay, 793, 17,793. So within about 30 points in the Nasdaq 100, you jump over the Dow. Those highs just under 39,000. Russell, as we know, well off that price level right now. Look at that, right? The Russell is 25% away from its all-time highs, man. Remarkable. S&Ps right at that level right now. All right, we got a lot to jump through here. And we got our Man-Teddy Cakes at coming up the next segment as well. Great day to have him on. We're gonna talk some rates. We're gonna talk some Forex. As we always do, we'll talk a little bit of crude. Some gold as well. So that's coming up the next segment. But yeah, let's jump around to some of the headlines, man. And we got plenty this morning. Kevin referenced it. Neil Kashkari, so the Minneapolis Federal Reserve President, said today that he expects the central bank to cut rates only a few times this year, okay? Sitting here today, I would say two or three cuts would seem appropriate for me right now. But again, I don't wanna prejudge things, but that's my gut based on the data we have so far. We just need to look at the actual inflation data to guide us. So far, the data has been resoundingly positive. I hope it continues. And then the question will simply be at what pace do we then start to adjust rates back down, right? There are compelling arguments to suggest, to suggest we could be in a longer, higher rate environment going forward. That's the part I really wanted to get to. Quite a strong statement from a Fed president. Keep that one at least as a risk in some degree out there. If that's the case, then yes, we may get some cuts, but you got a tenure right now at 4.1%. If we are in a higher for longer environment going forward, where does that 10 end up? And if that 10 doesn't end up dramatically lower, how much does the Fed really have to cut? In this existence that we had for 20 plus years where we were near a 0% interest rate and we weren't quite there, okay? But we were lower than we should have been for the economic growth that we experienced during that time, we were lower than we should have been. And I feel like that is resetting to a certain degree. So pay attention to that quote in most particular fashion. Compelling arguments to suggest that we could be in a longer, higher rate environment going forward and he's looking for two to three rate cuts. Folks, two to three, three only brings you down to 4.5 to 4.75. Yeah, okay, yeah. And we got the two year right now at 4.4. So if you're getting two to three cuts this year, the two should be dramatically higher than 4.4. If even after one year we're still sitting at 4.7, because that means over two years you should average 4.4, right? Nonetheless, you get the point, he's out there speaking, we get more speak as well. And yeah, we talked about Tesla, the one part I wanted to get to in this chart, I mean, they put it right up on the front page of Bloomberg, I think. Let's see, do they? I think they did. Yeah, I mean, check out, let me just blow this up real quick. You talk about a slowdown, man, okay? This is revenue change percentage-wise, okay? So if you're just at zero, your revenue is staying the same, okay? So this is not a decline or something like that. This is revenue change. Year over year, but folks, you were rising in revenue. This isn't going back to like 1995. This isn't going back to year 2000. This is the beginning of 2021. 75% growth, 97, 58, 71. This is Tesla, 87, okay? And then what happens? Do you remember at the beginning of 2022, when Elon was blaming everything on higher rates? Okay, well, guess what? That's when we dipped to 43% growth in second quarter of 2022. You go to 55, you go to 33, you go to 18, you go to 45, you go to five, and you go to one. Be careful with Tesla, folks. I would not be owning Tesla right now, even at these share prices, and doesn't mean the thing can't come back to highs, okay? And I got no problem with Elon and investing in some of his equities at some degree, but the risk is too high right now with everything going on with Tesla. Yes, you're gonna get some volatile moves. So I understand if you take that risk, you might get rewarded. That's a fair assessment. But boy, be careful, folks, out there. For Tesla, they're gonna be making layoffs and that's not gonna solve their problem. And look at this market. Oh, let's put it back to a 15 minute. Did we get it? No, we didn't get 5,000 yet, 49, 99, 25. All right, we jump around. Some of the equities with numbers. Overshares, they were higher, not so fast. They dipped a little lower, they're down by 2%, but boy, this thing has had quite a run recently. You back it up on the daily, right? You were just trading at a price point of $40 on October 26th, then you just hit 70. That's a 75% acceleration from the lows in October. We jump over to Uber earnings and they had strong earnings. Yeah, they beat estimates as revenue and booking see double digit growth, revenue for the quarter up 15% from the same period a year ago, almost $10 billion. They marked a year of sustainable, profitable growth for Uber as consumer spending continues to shift from retail to services is the number out there. Net income, $1.4 billion on that 10 billion that they took in, but the market's looking for a little bit more, right? They're up 75% from where they were October 26 folks. For the first quarter of this year, gross bookings, $37 to $38.5 billion. The estimate was $37.4, so the median, the middle of that range is gonna be above there. Anticipates EBITDA 1.26 to 1.34. The market was looking for the bottom sector of that. Active platform consumers reached 150 million in the fourth quarter. It was 131 a year earlier. Mobility, that's gross bookings, 19.3 billion. Delivery 17, just remarkable, man. But guess what? A simple case of expectation, sky high, they pull back a bit, not really a stratospheric beat and the equity is up 75% from where it was trading at just over three months ago. All right, what else we got? Yeah, how about Target? This one's interesting, man. I don't blame them for wanting to be in the next Amazon. The retail is looking for ways to reverse sales declines. A new offering can incorporate shipped. It's delivery business. So they're gonna offer a paid membership program. Probably about time, right? You got Walmart Plus, you got Amazon Prime, Target, not exactly those companies, okay, but probably large enough to have something to the degree and boy, they got a great brand. So it'd be interesting to see what they can put together here. You jump over to Target shares. They're up by 2.2%. On that news, trading at 147.63, but yeah, as we mentioned, man, quite a different story compared to the Walmart's and the Amazon's off the highs as well. But this thing's still almost cut in half from where you were trading back in the end of 2021 at $268.98. You compare that to a company like Walmart, very successful as consumers, you've heard Walmart talk about it, right? A different echelon, even on the income spectrum in terms of shopping at Walmart, higher income earners shopping at Walmart, everybody's looking to save in this economy, Target, different story, man, you jump over to Amazon shares, 169.97, up about half a percent, still about 18 bucks off all time highs, but we're in that range for Amazon shares, in that range. Let's see how Tesla's trading. Tesla, they give back some of it up by 1.4% so far, you jump over to Disney down by 1.6% on their news, you jump to Warner Brothers Discovery, uh-oh, they give it up just like that. That was a short-lived experience, negative prices for Warner Brothers Discovery, the market a little bit worried about that partnership, it seems. Nasdaq, up about a half a percent, we got markets reaching records, S&Ps within 1.00 to 5,000, we're gonna be talking some forex with our man, Teddy Kegstad, when we come back, folks, don't miss it. We'll be right back in three minutes. 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The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, Four-Side Fund Services, LLC. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. We have the S&P pulling it back a bit as we almost touched that 5,000 price point we're trading right now at 49.94. You're still positive by about 20 points or about four-tenths percent. And as we do each Wednesday at 40 past the hour, folks, let's jump over to our man, Teddy Kegstad. Folks, you can check out Teddy's outstanding Tiger Forex report right under the newsletter tab. You'll see it there. You can subscribe for $97 a month, folks. Comes out every Monday. Updates throughout the week when warranted. Comes with a 30-day money-back guarantee. And boy, there's so much going on in terms of forex, yields, driving the dollar, driving commodities, and we got some action. Teddy Kegstad, good morning. Good morning, Tommy. Boy, amazing the moves we've had since a week ago on Wednesday. Yields back about 4%, man. The whole conversation seems like it shifted a bit. Pretty remarkable. We talked to you last week before the Fed had even spoken. When you think about how things reverberate on a weekly basis, where do you want to kick things off, man? Quite a week since we talked to you seven days ago. Yeah, well, we had a nice reaction. I think pretty much what we talked about last week, we prepared ourselves quite well for that. So we rode that kind of wave. Not pretty nice, I think, going into the end of the week last week. And I like to speak that's kind of coming out and starting to hit the tone like I've been saying for over a month and a half that the media is getting way too ahead of itself as far as when a rate cut is going to come in. And also if three quarters is all they're gonna cut over the course of a year or whatever it is, the market's already factored in how much of that, which we've been talking about for a long time. So this limbo period with rates, I think is gonna be something we have to live with for a while, especially over the next couple of months. There's still some numbers you have to watch out when it comes to the FX markets. This week there's nothing for the dollar coming out anymore really except for unemployment claims tomorrow, which the way interest rates reacted on Friday, that was, I mean, look at how they acted off the Fed and then unemployment's what really set yields off because they don't like this with the wage growth and job growth and stuff like that. So if unemployment claims come out shorter, if they start to keep tracking in that direction, like it seems like that's gonna be that way, I'd be careful to watch the interest rates catching a bid as far as in pricing going up. Granted, we have the auctions the next couple of days, you can expect some kind of goofy volatility, especially in the afternoons. So I'd be careful with that. If I was just on the bond futures and 10 year futures, if you're trading those, I'd be very cautious the next couple of days. I'd probably wait it out until after Thursday's number because you're gonna probably get some erroneous spikes if anything off the auction. I don't think you're gonna get a solid trend because if anything, what's the auction gonna do? Do you think the auction's gonna start a trend? No, it's not gonna do that. It's gonna set the algos on fire. It's gonna be a matter of how much liquidity comes in, how much buying and really interest is there going to be. So and I wouldn't wanna try and play that game. Right now, I think that you're having, you hit a nice low in the dollar a couple of days ago. We had downside targets for the Euro US dollar and the pound and some other currencies and those hit nice areas just like the dollar index did as far as the upside. So I think that we're coming off a nice correction zone and I think that over the next couple of days into next week, you'll probably see dollar under pressure but I wouldn't get overzealous with anything when it comes to as far as how much the dollar is going to move. I would just be right now, sell rallies in the dollar right now by dips and the other currencies. I could see the Euro US dollar and the pound dollar getting a nice little lift. The yen, they had a nice outside day yesterday but all it's doing is targeting them back into the center of the range they've been in for the last month. So do I see the yen, US dollar yen going down? Yeah, on an intraday basis probably into Friday but I would use caution. I don't think you're gonna get a big move. Nice, that was a nice little wrap up man. I was jumping through some of those charts as you were doing it and yeah, pretty cool to see some of those inflection points and you've had some great calls man as things have played out and I wanted to ask you about kind of one of the points you made in terms of some of those rates of course already into the market. We get the 10 year rate at about 4.1 today whereas low was almost 3.8 last week, a little bit of a reverberation. And one of the things you had Kashkari out here saying today is that we might be in a period of higher for longer going forward to some degree and I found myself saying well if we're higher for longer and we're sitting at 4.1 right now, where does that 10 end up at some degree? Do you have any thoughts on that? And it kind of speaks to what you were talking about but I was just wondering how you take something like that, how you think about it and then you look, you mentioned the 10 year, the futures, et cetera going out even a little bit longer than maybe a couple of days. Where do you try and think about that one as we go out maybe months as we do start getting some of those cuts because you make the great point man if there's only three cuts and the feds at 5.5 right now and the 10 years at 4.1, there's a lot of that already factored in and so are we gonna be around 4% on the 10 year? Do you think about that? How's your brain think about that one? Oh absolutely, absolutely. And I think I heard you talking earlier and that does go in line with what I think. And remember last week I was also telling you how the short turns are really driving the yields right now and that's kind of where we're at. The 30 year obviously holds rates in the long term and with this where we're at we know that okay even if they were to, let's say hike, they're not doing more than a quarter point you know what I mean? Like let's say all of a sudden inflation starts to kick up and then they would be on okay we're gonna do a quarter, we're gonna pause and we're gonna probably lean towards cutting again. So we know that the hawkishness is pretty much off the table but not gone. But also as far as dovishness how much do you get? I mean three quarters of a point over a course of a year remember when they first started raising interest rates? I mean they did over a point and a half in how short of a time? Let alone a half a point or a point. So now you're looking at 12 months for three quarters of a point which the market's already factored in. So I think that the short terms like the two, the five and the 10 are gonna still push that boundary especially the tenure like you said into that area I like that as a target range for sure. But once you get to that area I'd be careful because that's when you're gonna see the swing where the 30 year is gonna catch up with the short terms and start to push highs. And when it starts to get stretchy and starts really spiking the short terms are not gonna spike anymore cause they're done. And once those start to turn cause the short terms obviously drive rates in the short term, long term overall. So the trend first shifts with the short terms. The only time it shifts with the long term first is when you have major monumental events. If all of a sudden we go to like the US troops go into war like with Taiwan I would think that the 30 year is gonna catch a bid at least in the short run. It doesn't matter what's going on in the economy. You know what I mean? So that would be a situation where the 30 year would override the short runs. Because that's just flight to quality. It's just what you do is how things can happen. But yeah, I like what you're saying and I think that that's the tone people really need to keep in perspective is don't expect much out of the interest rate market. It's pretty much done. I mean, we know that as far as going up, that's over. Going down, there's not much to go. Now unless we have something where let's say all of a sudden unemployment sky rocks. Let's say we go all of a sudden to 6% unemployment and have a huge deflationary environment that somehow just, I don't know, comes out of nowhere. Maybe Santa Claus all of a sudden drops off all this stuff at every Walmart or something. I don't know. I don't know what concern anything can use. We all know these things come out of nowhere these days for sure, go ahead, yeah. Right, but let's say that does occur. Okay, then you're looking at that situation where you could see a big easing bias. But like I said, I can't go far into fan. I have to go into fantasy land to try and find those opinions and objectives. So I just don't want to throw those out there. I mean, anything can happen. We know that. You're more likely going to have an elbow spike that happens because of an error in technology to get to those levels for a brief time than you are because of a trend, I think. I appreciate the take, man. It makes a lot of sense. It does. Can you hang with us for the break? Maybe we'll talk a little bit accrued if we can to finish it up after the break. I could do one last segment, yes, sir. Okay, perfect. We'll be right back, folks. We'll talk a little bit accrued. We'll finish up with our man, Teddy Kegstad. We'll be right back. We've got markets in positive territory. We're right near our all-time highs. Stay tuned with us. Teddy and I will be right back, folks. The Gold Report. 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We're back to $73.00 in change. What do you think about that crude market? We can definitely talk about crude, especially the Tiger Forex report readers. We had that sell signal a couple of weeks ago that played into our hand into Friday's low. We got the little test of it on Monday. We peaked a little bit lower, a couple ticks and then reversed and had basically an unchanged day. That was a nice little high probable catch. Japanese candlestick turning point, meaning that probably that swing low is pretty solid for at least a few sessions, I would think. I would watch out. Now, today's critical. Let's say we close where we're at right now. That would give us a nice little positive bounce off of Monday's low. If we reverse gears tomorrow and sell off in the crude market, I would be very cautious that we could probably take out the lows from this week. That means that we're gonna probably get bearish and try and get back down towards that probably 70 to 68 area. Now, in the opposite, if we hold up today, like let's say we settle where we're at today and then all of a sudden we catch a rally and settle, definitely positive tomorrow. Well, then we're in the heart of the range we've been in for the past couple of months. It's gonna be a $75 treading around there, poking around $76, $77 back to $75. You really have to take out that high from a couple of weeks ago at around 79, I think it was around 79, 78 half. If you do that, then I can see it's going up to that 81 to $84 range. But the oil market seemed pretty tame. I mean, geopolitical stuff hasn't seemed to shake the boat too much. It's helping them hold us in a range. I just don't see us to have any really big bullish reason to take off right now. Now, especially with yields, if yields also keep on retracting, if they keep the least sideways to lower, then it's gonna be hard for crude to catch a bid too, because if the dollars on the pressure and yields are under pressure, cost of carry goes down for crude that helps to suppress prices, and also demand level changes as well. So I think that we're stuck in a wide range trade. I'd be cautious, watch those levels. We take out the low from Monday, look out below. And if we get a positive close today and especially tomorrow, we could push a bid. We gotta run, Teddy. Bye.