 The following is a presentation of TFNN. The morning market kickoff with your host, Tommy O'Brien. Good morning, everybody. I'm Tommy O'Brien, coming to you live from TFNN Thursday morning. Just after 9 a.m. Eastern time, we got a hot CPI number this morning, folks. Inflation, persistent to say the least. And we got markets accelerating lower. You have an S&P off by more than 2% right now. We're 10 points off of the low. You almost got a 3,400 handle. Just briefly, we were down as low as 3,506 right now. You're negative by 2% on the dot, negative 71 points in the S&P, trading at 3,515. NASDAQ 100, you're off 2.9% right now. We might see a 9,000 handle in the NASDAQ, folks. You could see a 9,000 handle today, man. You could see it possibly this week. You could see it as we come into the November meeting. We're trading at 10,530. We're well below the lows of June now. Solid 500 points almost below NASDAQ 100 off 2.8%. The Dow is off 500 points right now, 28,754. You get the Russell. Not quite at those lows from June, 1658. The Russell down 2% as well. Bitcoin, 18,165. We got a 17,000 handle briefly. That's a daily. There's your 15-minute action. You can see the volatility on Bitcoin on the hot CPI number as well. So what's going to happen? We're going to have higher rates, right? The higher rates, people are going to want those higher rates. How do they access those higher rates? They access them with US dollars. What does that do? That puts strength in the dollar. And that continues the trend we've seen in many. We have the Yen spiking today, gold. That's why I make that segue, gold. Lower this morning on a stronger dollar, gold down $20 to 1658. Now, gold, not quite back to the 1622 area. It was at in September 28th there, back to the 15-minute chart. We jump over to silver. Silver right now, down about 35 pennies to 1859. And look at the move in notes and bonds, man. You talk about a move right now. We got higher yield across the board to say the least. You're looking at right now a 10-year, down a full point and 10 ticks. Okay, but we were higher coming into that number, folks. You were trading at 111.28. You almost just traded down two full points in the 10-year. We have the 10-year right now at 4.06%. 4.06%. Let's jump up and down the line in terms of the yield curve, where we are. Your two-year above 4.5%. Your six-month at 4.3%. Folks, I've said it before, if you have money, whether it's in a checking account, just sitting there, okay? A one-month, you can have your money tied up for 30 days and you should be getting around 3% for that money right now, let alone three months is 3.7. Six months is 4.3. The two-year is at 4.5. The 10-year is above four. And even the 30-year is at 4%. Talk about a rise, man. Look at the rise in those yields on that number. As we hit it this morning on Hot CPI, we'll get over to the data in a moment, okay? Why not? Let's jump to the data, actually, because this is the headline that you're gonna see as well, the headline that you are gonna see, folks. Core inflation rises to a 40-year high, not what was expected, man. Prices excluding food and energy increased 6.6% from a year ago, but here's the kicker. On a month-over-month basis, this is, I think, the biggest data point within the CPI, on a month-over-month basis, okay? You had the core CPI coming in at 0.6% versus 0.4%. Folks, 0.6% over a 30-day period, you multiply that by 12, you're at 7.2%. The core CPI number right now is currently running hotter than it was over the last year, is one thing that you could say with a headline number of 6.6%. That is the highest level since 1982, from a month earlier, there's your 0.6% number when you get it in there. The overall number, 0.4% last month, up 8.2% from a year earlier. So headline number, 8.2 versus 8.1, a little hot, not too dramatic, but on a core basis, rising 0.6% for a month, taking energy out of the equation, taking food out of the equation. It's a tough one, folks, in a big way. And they were looking for a 0.4% month on the core number. Okay, so they were looking for a 4.8% annualized number on the core, and they come in at 7.2% annualized. That's another way to put it in the last 30 days. Okay, now yeah, you're gonna get a lot of volatility on a monthly basis, but folks, 0.6 on a monthly basis is a big difference than 0.4 if those numbers hold. And there's not too much volatility skewing the number, maybe 0.1 or 0.2 in one direction over a 30-day period. Now, the number they were looking for on the headline was 0.2, that number came in at 0.4. Folks, look at this chart, okay? This chart is just CPI and then it's core CPI, okay? You have CPI in the pink, and you have the core CPI in the black. Now, we have had, over recent times, periods where the headline CPI number has spiked, but a lot of it had to do with energy. Okay, you go back to 2008, we had the headline numbers pushing 5% inflation, but core was a 2.3% annualized, folks. You get that core was at 2.3% annualized, okay, a lot of talk back then, right? Do you remember the conversations taken place, folks, saying, man, how do they take food and energy out of the equation, right? I know they're saying that core is at 2.2 and 2.3, but Americans are really feeling the hurt because we had gas prices in 2008, whether it was 2008, whether it was in 2012, right? You see the headline number approaching 4%, but again, core was at 2. Okay, many times, we haven't seen a spike like this, folks, as they say, since 1982 on a core basis. And boy, it seems like it's more persistent than most are talking about. We get a November meeting coming up, that November meeting, 75 basis points. I'm sure you're gonna start here in a conversation about 100, folks. If 75 was already baked in, which it pretty much was, and we got this number, well, a lot of the conversation this morning, just in the last 30 minutes, or 45 now, from the 8.30 number, we're saying, okay, what about the December meeting? Right? Well, let's go back. What about the November meeting, man? If November had 75 baked in, I'm not saying it will happen, folks, but that is gonna be the conversation and it's gonna shift to December. Now, housing prices, we've been talking about housing prices on this program, folks, shelter costs, which are the biggest services component and make up about a third of the overall CPI index rose 0.7% for a second month. Rent of shelter was up the most on record on an annual basis as was owner's equivalent rent, folks. Keep your eye on shelter. We've been talking about it, so shelter is about a third of the overall CPI. Shelter represents about 40% of the core CPI and you're seeing it up the most on record on an annual basis and shelter is a lagging indicator. So now, part of the conversation in my head shifts to when is the Fed gonna start talking about that shelter is gonna have a lagging effect and that might allow them to not have to continue to hike in the face of core numbers that are gonna run hot for some time, folks. Shouldn't be surprising that housing costs are as persistent as they are. How about food? Food again, not in the core number, but in the headline, 0.8% for a second month, 11.2% higher from a year ago. Yeah, some wild numbers here, hot numbers on the CPI, the market reacting this morning, yield spiking higher, dollar higher. How about the yen, man? Jump over to the yen. US dollar yen right now. Come on, cooperate, it's not pulling up. We'll pull it up when we get back, folks. We'll talk to our man, Kevin Hicks. S&Ps down by 74. It's gonna be a wild one. 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We have S&Ps down 80 points futures right now right near the lows of the session, trading at 35 off 08. That's off 2.25% now on the S&Ps. You get the NASDAQ 100, we're off 2.9% right now. The Dow off 560 points, that's 1.9% in the red. Let's jump over to our man, Kevin Hicks. Every trading day, folks, 12 noon Eastern time right here on Tiger TV. Fast Market from the TD Ameritrade Network. Hey, boy, we're gonna have a fast market today. We'll just jump right into it. Kevin Hicks, what do you think of this market, man? Good morning, Tommy O'Brien. You know, the headline from today's CPI report will be very simply no progress. This is a number that really the reaction is worse than the actual number. And the market is down because really all the work that has been done by the Fed raising interest rates has had no effect. Really, not because the Fed, but because very possibly the other branches of government are working against the Fed. And you just can't keep spending money and expect inflation to go down. And that's what we have here. Numbers that if you look, Tommy, food at home, up 0.7, food away from home, up 0.9. That's food at home, Tommy, up 13% over the last 12 months. Food away from home, up 8.5%. Services less energy. Shelter up 0.7. Transportation services up 1.9. Medical care services up 1%. And that, Tommy, with the overall energy space lower in terms of inflation. And you can make the case, Tommy, that energy since this report was probably printed is higher than where it was. So there's just no good news. The numbers, it's not like they were red hot. They just didn't get better. They got slightly worse. That core number on a 0.6% on a monthly basis, my head goes, wait a second, we're supposed to have two to 3% inflation, our goal in the long-term. And I think it's most reasonable minds will say, it's gonna take some time to get back there if and when we do. But boy, at 0.6 on a monthly basis, Kevin, on the core number, that takes out food and energy, but you just went over some of the components, man. Even in shelter, a huge component that could have a lagging indicator in there. So with that in mind, Kevin, we go forward to, we got Fed Minutes yesterday as well. Nothing too surprising in there. The market took it pretty much in stride. We go forward to the November meeting, the December meeting, 75 was already baked in in November, Kevin. Where does the conversation go? Do they start talking about 100 basis points again? I think it seems like maybe at least you have to bring it up. If 75 was already baked in and we got a number that missed, shouldn't the conversation start shifting yet again as we go over that same playbook? Two things. I think 1% will creep into the narrative. I don't know if it'll happen, but what will happen, Tommy, is the net target will go higher, which means they're talking about 75 basis points, 50 basis points, 25. No, it's gonna be 75, maybe another 75 or 75, 50, 50. All the back numbers are gonna go higher. These yields, unfortunately, Tommy, have to go higher to quite inflation. The only thing that you can make a case for with some of the lags, some of the moves in it straight haven't hit the market yet, but Tommy, no on inflation. None of what they've done so far, remember, they started in March, we're in October, and there's been no drop off in inflation. Well, because the administration has spent 1.1 billion dollars, and that is against the Fed rate hike. It is interesting, man, how that argument, that reason, just the conversation gets a little bit more difficult in my opinion when you say, well, it's lagging. Well, I know we're not gonna get back to 2% in a year or something like that, but aren't the numbers supposed to start moving a little bit, right? Which is what kind of the fear is out there. How about yields this morning, Kevin? Up across the board, man, I have some of the curve up here right now. We get the two-year, above 4.5%. We get the 10-year, 4.07%. What do you think, where? Where can this 10-year go, man? It doesn't seem like it's stopping right now in face of where we go. Dollar higher, yield higher, is working against stocks as well. We saw this spike, you know, it's interesting. Pre-CPI number, the market was looking pretty solid. You had moves in the UK, the Sky News was reporting that you were talking about a U-turn on the UK tax plan. You had the dollar lower, you had yields lower. You had the British pound higher and stock higher, and then all of it wiped away with one number. Pretty wild, man. And we get to do it over and over again, man. It's already October 13th. We're gonna be coming into a Fed meeting before we know it. And I know we kick off some earnings, man, beginning tomorrow. What are you guys talking about coming up at 12 o'clock on fast market today, Kevin? Today will be all about financials. Tomorrow morning before the open, we've got J.P. Morgan, Morgan Stanley, Cyd Group and Wells Fargo will cover as many of those as we can fit in a one-hour show, Tommy. It's an interesting one with the banks, right? I mean, they're supposed to make money when you have a high yield, but we know that's not exactly the case going on. Everything's selling off right now. We get the S&Ps down 81 points. It's gonna be a fast market today, Kevin, as is the case lately. We appreciate you coming on with us as you do. And we don't talk to you on tomorrow, man. So you have a great show. We'll be watching at 12 and we'll talk to you on Tuesday, Kevin. Have a great day, Tommy. Have a great weekend. You too. Folks, tune in every trading day. We're coming into earning season, man. Banks kick it off tomorrow. J.P. Morgan right now, check it out. I mean, they're off more than $2 right now. J.P. Morgan, and you look at the weekly, man, right? You talk about a sell-off. Chopping around between 150 and 170 for the better part of last year? No, we're at 103, and you're gonna open at 101 today, folks. That's basically the higher range that this chopped around during the COVID lows of 2020 when you had interest rates and yields basically at zero to negative. Now we have yields on the 10 year, right? Approaching 4.5% and banks can't make any money right now with what's going on. Lots of variables going on. As Kevin mentioned, man, we'll jump around to some of the currencies. You get dollar higher. Now that's a weekly. Just putting it back on a daily here. Pretty well-defined channel line, folks. If you're talking about the upper portion of this trend line, you're talking about 115 on the upside for the dollar. We take a look at the euro US dollar. You trade to the lower portion. You're talking about 93, man. Well within play, folks. This is not over as we see on that number. Things are gonna play out for some time. We will reach a peak at some point, whether it's the dollar index, whether it's our yields, right, whether it's the Fed's hiking cycle. But boy, it is very tough to argue about any type of a lag in the data when you have prints that are 40 year highs in core CPI. I mean, did you see that headline, folks? Right, let's get the headline again, okay? Core inflation rises to a 40 year high. That's not when the Fed is gonna begin saying, you know what, we're gonna let the lag play out here. No, they might be able to let the lag play out to bring inflation for the final few percentage or something. That would be a much more reasonable argument in my opinion, but they can't say, let's let the lag play out when we're making new highs. No, they have to get the trend at least going in their direction. Then maybe they say, okay, the trend is coming. We've seen the turn, right? So let's let that turn play out as opposed to accelerating it. We're not even close to that right now in that market. So that's your Euro US dollar. And as Kevin mentioned, we had the pound US dollar, okay? Now on a 15 minute basis, man, you were all the way up to almost 113 and boom, just like that, you're back to 111 on that CPI data. It's gonna be an interesting open, folks. S&Ps down 2.17%, stay tuned. We'll be right back in three minutes. Don't go away. Booming inflation, we are purchasing powers eroded. There's no better place to protect your harder and money than in gold. This, the gold's flagship asset is the Monk Todd Gold Project in the Northern territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world-class gold project in a tier one mining district. 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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.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern, for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN. Educating investors. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks. We got markets open and you're looking at an S&P negative by 77 points off 2.17%. We're dropping a little bit. You're negative by 80. We jump over to the VIX Volatility Index right now. Pretty interesting, right, VIX? Is that trading? I feel like the VIX might be stuck on my screen right now. Can somebody tell me what time is that at? Yeah, I'm stuck at like 9.16 for some reason. Does somebody else have the VIX? Is that happening on Think or Swim only? Maybe if in the Tiger's Den you can let me know. But you can see, I'm kind of stuck only on the VIX at about 9.12, 9.14, 9.16, something like that on the VIX. Let me see if I can size it out. 33.39, okay. I guess that's what it's showing. That's what I'm at. Thank you, Duffy. S&P's negative by 78. So the other data point we got this morning, a distant, distant, distant data point behind the CPI that ran hot, was unemployment claims. Initial unemployment claims reach a six-week high in the wake of Hurricane Ian. Yeah, and something has happened, and I think folks, oh, no, there it is, it's connected. Okay, so VIX up a bit, 33.54, it's just because not higher to a dramatic degree when you have the market actually sell off, part of that having to do with potentially the fact that all that volatility premium gets sucked out now that we know, right, the move, the CPI number that was such a premium factored into so much of what's going on there with the VIX sitting at 33.55 as you get the NASDAQ 100, now off more than 3%. Let's jump around to some of the fang stocks, the big dog, Apple. How about Apple, down $3.30, but it catches a little bit of a bit. Apple's $2 off of its lowest, folks. Microsoft shares right now. Down $5.75, that's 2.5% in the red, barely off of the lows. Microsoft just gave up $10 though from where it was pre-market. I mean, we were higher pre-market, that's what to remember as well. All these markets down dramatically, but you had the S&P folks trading at 36.44. Now take that spike out, I don't know why it accelerated at 328, who was buying two minutes into the CPI, but you're 120. Yeah, you're 120 points below where you were trading at for about an hour and a half, an hour coming into that CPI number, 120, as you continue to drop. We're right near pre-market session highs on that S&P. Okay, what else do we have going on? How about this chart? Let's talk about some of the CPI components. There's your categories folks, fuel, airfare, natural gas, gasoline, dairy and related products, electricity, motor vehicle maintenance. If you're in the need for alcohol or hospital services, you're in luck. Those two are the lagging of that chart there in terms of the CPI select categories year over year. This is percentage change. You see fuel, you see airfare, okay? And boy, you talk about it, man. Now, I just had, I believe, pulled up here. Oh, where were we? Here we go. Airfare component of the September CPI inflation is up by 42.9% year over year, the fastest rate on record. There's a lot going on folks in these numbers to get overall numbers back down to two or 3% when you have components like I just pulled up up 40, 50, 60% on a year over year basis. You're seeing it. Airfares, 42.9% inflation year over year. I mean, imagine you gotta get back down to 2%. And airfares are pushing 42%, okay? Boy, wild stuff going on across the board. Now, I jumped from there because we got some earnings today, folks. And one of those companies is Delta as they are trading higher. Delta, you raise your prices 42%. Even where a crude is, you're able to make some money. But guess what? When the market does what it does, you're off 1.9% for Delta. That's a 15 minute chart to see the volatility on their numbers. You give it all back and then some, you take a look at Delta. This thing is in some rough territory, man. You've given back more than the 618 and the entire run higher you had after COVID, came into COVID at 62 bucks. COVID lows were at about 20. Yeah, you got a 1751 low, but you can see from March 16th to May 18th, okay? Until government rescue came into greater clarity. You basically have the lows of Delta at 21. And you're telling me right now it's at 28, but they got a lot of problems. Even raising prices 42% with where a crude is and with the potential for an economic slowdown. But with that in mind, we have the S&Ps clawing back some of the folks. I mean, you have to understand that at some point, the market just gets the fact that the Fed's gonna bring it until they know that they're gonna crush inflation. And guess what? Stocks will be okay, all right? And we will get through this to some degree, but we're coming with 75 or even 100 basis points in the November meeting. You're probably coming with 75 or 50 in December. And then you're probably coming with some cuts, some hikes cuts in 2023 until the Fed can realistically be confident that they are in a restrictive policy that is restricting the economy. Maybe you see the jobs numbers starting to come down. That would be very helpful. We saw the job openings decreased by a million versus what was expected. We still have unemployment at 3.5%. That's a problem folks, okay? And it's not a problem for the people in the job force. It is a problem when you have inflation running at a 40 year high on a core basis and it shows no sign of letting up whatsoever. So Delta had their numbers, strong numbers this morning. You give it back though with the market. Let's see, we got Walgreens, yeah. They were better than expected quarterly profit and revenue, they raised its long-term sales outlook. Let's see how they handled the sell off. So look at that, that's one bright note. Now that's a weekly, you talk about a pullback, man. 55 down to 30 for Walgreens. Look at that, below the 2020 lows, these markets, man. But this morning, look at that. It gave back its entire gain, but it looks like the earnings are gonna win out on Walgreens even on a day like today where the S&Ps are down by 80. That's some strength for you folks because it gave it all back on the open. But when that market opened, you got quite a pop on Walgreens and basically you got the entire, this thing opened flat and now you're up 5% as demand came into that stock on their numbers. Amat lowered its current quarter revenue outlook, chip makers, man, watch out for those chip makers. My dad was saying on his program down 6.1% for Amat. Yeah, these chip stocks will let us down, let us up, let us up, let us down. You're gonna owe, yeah, 71 from 167 earlier this year, right back to where we were coming into COVID practically at a price point of about $70 for Amat, man. Victoria's Secret is a little bit higher after they said the current quarter sales and profit will come in at the high end of the prior forecast. Yeah, and they have a meeting with analysts and investor schedule for today, VSCO, this stock has gotten hammered as well, man. They go public with a spin-off from Bath & Body Works, accelerate to 76, trade down to 26 today, holding okay on that news. Yeah, they were higher, give it back Victoria's Secret down about 6.10% as the market holds up pretty much right where we were coming into that. So the Taiwan Semi-conductor, maybe a lone bright spot right there. Nope, they give it back as well, down 2.5% even on some decent numbers. And you talk about a pullback from 145 down to $62 for Taiwan Semi. And Coles might have an activist investor issue coming up, Coles down 4.2% right now. Yeah, they were a little bit higher on a journal report that you got McKellum advisors warning the retail that another proxy battle could be coming and they're looking for three director seats after talks to sell the retailer earlier this year collapsed. I like Coles too, man. I do some shopping in Coles. They have a good experience, they have good prices, man. Coles, you take a look at this thing on a longer-term basis. Quite a pullback, basically chopping around near COVID-Lows had no business being near $50, I guess, for the better part of last year. Early this year, Coles had 25 bucks down another 4% right now. We'll jump over to Amazon as we come into the break off 6.2% folks, while move, stay tuned, we'll be right back folks. You might think that if you want to be successful at trading in a stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? 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Back, folks, we have the S&P right now down just 72 points, a little bit of a bounce off the lows. We don't make it to 3,500, make it to 3,502. Let's put it back to a five-minute chart to see the acceleration at 830. We open at 930, make it to 3,502. Since then, we're up by 15 points. Market could be worse, folks. I know it's easy to say, but it definitely could be worse because that was a pretty hot CPI number at 830 this morning. You do have markets down dramatically. Some of the stocks, as I just talked about, Amazon, right, Amazon, down 5.7%, man. You trade off $6.51, Tesla shares off 3.3% right now. We jumped around to some of the other fang stocks. Microsoft off 1.8%, Apple, the big dog off 1.9% right now. We jumped over to Google off 2.5%. Metashare is trading off 3.3%, man. Let's jump over to some of those banks with their earnings tomorrow. Look at that, JP Morgan, flat. They clawed all back almost. Morgan Stanley, negative 1.8% right now. Wells Fargo off about 1%, Bank of America off about 8.10% right now. And let's jump to some of those currencies. Dollar index right now. Post back a bit. We almost make it to 114 in any other universe, folks. These moves would be mammoth that we get even in the pullback. Look at the move from 112.80 up a full point to 113.92. And since then we've traded down about 40 pennies. Let's put it on a five minute to see the spike on the CPI up to 113.92. And let's jump to gold, man, continuing to struggle gold. Right near the session lows at 16.51. And yeah, I don't know where the dollar yen stock. So it's 147. Oh, wow, we got a little pullback. There you go. Up to 147.66. Not sure what happened at 9.20. What did happen at 9.20? Is there any of the dendro? That's quite a bar on the dollar yen. Somebody step in there. Somebody might have done something because that was quite a move. 9.20, 9.25 coming into the opening bell. Not sure that tail is all realistic, but either way it dropped from 147.62 to 147.16 on the dollar yen after that dramatic move up at about 8.30 this morning. We jumped to notes and bonds. Quite the move here indeed. You're talking about a 10-year right now down to 4.5 ticks, but we came into that announcement, folks, with the 10-year already in positive territories. You dropped basically a point and a half from where you were at that price point. Now you take a look at this thing on a longer-term basis. There's no end in sight just yet, folks. Now you could make a case that we have an A to B CDD. All right, your A point, let's call it 129. Your B point potentially, 114, maybe a 15 point, A to B CDD. Okay, and that takes you down to about 107. We're at 110 on that index. Pretty close to some of those extensions they can play some pretty remarkable. And you get a 15 point, A to B, C to D, and it completes it all in the span of what, six, seven months almost? Pretty remarkable. All right, let's jump over the VIX right now. See how the VIX is trading. Yeah, 33.87, slightly elevated, but pretty much where we chopped around for the better part of yesterday. We actually opened yesterday at 34.53. So even with the market selling off 78, market participants meeting needing a little bit less premium. As you get one huge data point out of the way, even if it's a hot data point, it's now out of the way and we have the VIX still under 34. You take a look at the VIX on a daily basis. The one thing I will say is, this is going back last 12 months, folks, right? I don't have to tell you that we're coming into a potential area that has been a high for the VIX before we've gotten some pullbacks, man. Keep in mind, folks, okay? August 17th, going back to the S&Ps. Okay, August 17th, the S&Ps were trading at 4,300. We just gave up, they were trading more than that, 4,327. Yeah, we just gave up 810 S&P points. That is about a 20% drop in less than two months. Okay, so I know things are dire and the S&Ps obviously had no business being up here in August at 4,300. There's your CPI drop off when we came into the CPI print for the month of August, okay? We were sitting at 4,175. So even since September 13th, folks, it's October 13th, the S&Ps have dropped in the last month alone 600 points. No, higher, yeah, 650 points. That's almost a 20% move there. Not quite, okay? Yeah, but about a 15% move in a period of a month. The point being, S&Ps now down 65. We just dropped 15% of the S&Ps in a month, folks, okay? So the market was well aware probably that this number was gonna run pretty hot because we just traded from the last CPI print. Remember, that day was a huge day to the downside, but we didn't stop, man. That day completed at 39,52. You paused at 3,600 and now we're at 3,500. It's gonna be a wild one to see where we finish, folks, if maybe this market saves itself thinking that, you know what? We already knew that this was a max-paying situation. When we got that CPI print in September 13th, maybe enough market participants were well aware enough that they traded down 600 points coming into the next CPI print to get ahead of that number. It's happened before, folks, okay? You wanna see what happens when you trade into a number? How about going into that first hike from the Federal Reserve? Market trades from 4,800 down to 4,200 and what do we do on March 15th when we finally get that hike? The S&P's bounced 400 points to talk about a lofty area of 4,600. It's gonna be a wild one. As I said, S&P's down 63. We're getting a little bit of a bounce, man. Would be remarkable if this was the buy, right? When's the buy? The buy is when everyone's screaming, oh my goodness, it's October 13th. We're coming into the end of 2022 and inflation won't stop printing highs for 40 years. What? Sometimes that's how it is, man. S&P's down by 65. All right, let's jump around, see what else I have pulled up here. Talking about what the Fed is pricing in shouldn't be surprising, folks, that their Fed swaps fully priced, three-quarter point rate hike in November. Conversation's gonna start going to higher than that, folks. The rate on the November overnight index swap contract rose to 3.86%. More than 75 basis points above the current effective Fed. So already, if anything, it's going to 100. Shouldn't be surprising there. And yeah, 6.6% was the number we got on core, the highest level since 1982. And what's crazy in this, folks, is that it's speeding up. From a month earlier, the core number is up 0.6%, which would mean a 7.2% annualized rate. Core inflation is heating up in the last 30 days versus the last 12 months. And over the last 12 months, it's at a 40-year high. That's bonkers data when you put it that way, folks, but that's the case, okay? That should be the headline. Core CPI is at a 40-year high and it's actually accelerating in the last 30 days versus that 12-month print. Wild numbers when you look at it. All right, what else do we have up here? Talking about dominoes, they're out with their numbers. Reports mixed, they're a quarter of results. US same-store sales increase, and we'll see how dominoes are straight. What are they? Pisa, right? DPZ is their symbol. DPZ for dominoes, pizza. I used to love dominoes. Oh, look at that, man. There you go. There you go. There's a bright note on a tough day, man. As in, hey, S&Ps down 59, man. This is gonna be an interesting day, folks, because these markets really could have sold off if this was a Max Payne fear situation. And they're already up 30 points from the lows. Wouldn't it be remarkable if you actually finished positive today? Haven't said that many times, right? But maybe people are finally willing to say, you know what? The Fed's bringing it. They're bringing it. We already know it's 75 the next meeting. Maybe it's 75 the meeting after that. We already know that inflation's out of control, but the S&Ps are at 3,500 down from 4,800 earlier this year, folks, as S&Ps catch a little bit of a list. Lift and dominoes pizza up by 9.42%. Stay tuned, folks, one more segment. S&Ps only down by 55 points now. We'll be right back. TFNN has just launched their new trading room, 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. And now they are expanding their reach with the Tiger's Den, available to all Tigers and Tigris' for just $1 for the year. There's no catch or added costs when you join our community of traders. 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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. Don't call to come back just yet, but man, we are 40 points, more than 1% off the lows right now. Quite an acceleration beginning at 945, about nine minutes ago. S&Ps now just off 1.3%. NASDAQ just off 2.1%, man. NASDAQ 100, 130 points off the lows. As our man Basil Chatman, who's coming up next, folks, he says the day is young. It couldn't be younger. We're only 24 minutes into the trading day, but surprising strength off of the lows right now. And pay attention to that, folks, because pretty dire data, but the market might be telling ya, as I just went over in that scenario. Okay, don't forget how far we've traded coming into this number. Don't forget that just two months ago, we were at 4,300, and folks, one month ago to the day, we got the CPI print on September 13th. We were at 4,175. You have given up 640 points from that price level, a solid 15%. S&Ps have traded down 15% in one month. So yeah, there's a lot of negativity priced into this market. They figure things out, I think, on that September number when they drove this market down to 3,600. Not necessarily something that we're gonna turn green, but already quite a clawback of 1% we are up since we started trading just about 10 minutes ago. And you know what? I was looking at Domino's, man. Domino's is a good deal, okay? Now they got a deal, folks. I don't have any Domino's in retirement or anything. Maybe I should get some. We'll take a look. Those talk about a pullback from 567. Well, and now Domino's, folks, not healthy. Processed food is not healthy for you. If I have one thing, I like spending my time on trying to be healthy, folks. And I'm just as quick to go to the freezer and grab a snack of ice cream and everything in moderation, folks. So have your snacks if you want them, okay? But fresh food, folks. Meat, vegetables, lean meats, especially. Have a hamburger occasionally, you get that. All that stuff. Processed carbs, processed sugars, especially having a kid in the house now. Sugar is in everything, man. Be careful of it. Guess what, man? I ordered two medium pizzas from Domino's. I was checking it out. 6.99 a pop. You got two medium pizzas delivered. For guess what? 1,995. It's a heck of a deal, man, for Domino's. When you look at it, especially with some pizza companies charged, that is two medium pizzas delivered for 6.95 each. They got quite a deal. There it is, 6.99 each. We'll end it with Domino's. Why not? S&Ps down 52. Stay tuned, folks. It's gonna be an interesting one. Basil's up next. Have a great Thursday, everybody.