 The following is a presentation of TFNN, the power trading hour with your host David White. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, David White and welcome all to another excellent edition of the power trading hour. So yeah, it's another excellent edition of the power trading hour and of course big news out here today and I was betting on the opposite side of that news so I had one position that went in the negative but overall not too bad. The other two positions I had in the other newsletter eaked out a small profit and one of the holdings is up 50% over yesterday's low. So it's always nice to have more than one single position going on and that way you don't take the lumps too hard when things don't go your way but I'm still kind of scratching my head on just why everybody's excited about 8.7% interest rates but doesn't really matter, does it? The market's always right, you're maybe right but if the market's not going your way it doesn't really matter, not really. Anyway very interesting action out here today probably other than the markets what I think a lot of people aren't talking about I heard Larry bring it up on his show though was the bond market and that was very interesting along with the dollar. So there's something going on in the background of the market that I don't think is abundantly clear just yet but probably will be in the next few days but you had a big push higher up to almost 119 on the TLT you've given really kind of that back and more so we're kind of down around the lows of the day now but I've been looking for that to go back down to about 112 and I thought it was very hard for the market to go higher if interest rates or yeah if the market to go higher if the interest rates are going higher. Well there was a lot of action going on today and part of it actually in the dollar let me get that up real quick let me get it here so I can actually show it this is one I could show without revealing all my deep dark secrets of my trading accounts but investing.com has it quite the move off of 106 earlier today were 104.96 got down to almost 104 and a half on that dollar index and the question is what really went on were people as wrong as I was coming in this morning just in the dollar very tough to take a look at and think that the market was that ill prepared for what I think it was in line numbers but I do digress like I said I suspect there's something more going on I'll probably find it out later anyway TLT interesting markets are interesting and of course one thing that we always want to look at when we get these huge moves is did we get the associated volume that we should be seeing so back up at these highs probably should be in the neighborhood of about 10 billion shares already today and we're not even doing what we were doing yesterday really we're doing just a hair under 7 billion shares so is this a huge move with the volume well it depends on what you're looking at this is one of these markets where the indexes are being driven by extremely few stocks so does that mean we're going to give it up instantly no this is probably let's go ahead and take a look at something like the spies SPY he said SPY this is probably a buying climax and does that mean that it instantly goes lower the answers no generally you'll hang up at these highs for about three days and they'll try to get everybody they can out but when you look at the spies today we're going into a 96 million share high on June 2nd 54 million shares so far today and that is just showing you how really narrow these indexes are being pushed how a few stocks Microsoft Apple pushing a lot of stuff there just doesn't seem to be the fear of missing out though on retail traders now we'll see what else happens but the downslope of volume that really kind of started back on the 29th is still intact so you will be hitting the highs with lighter volume you will be also on my power law vector indicator number seeing the energy on the way down significantly higher than the energy on the way up so you have what I think is or what I would call a congruent pattern here that is at the highs significantly lighter volume on the way down energy on the way down compared to the energy on the way up significantly lighter then you have an untested low to 362 17 now that being said my deep inside source says that the Treasury may be doing a lot with cash out here and that is where we're getting a lot more of the move it may be coordinated with the Fed it may not be but it certainly looks like it we certainly have a long time before the Fed comes out but not really congruent with what the Fed had been saying earlier over the last week as as hawkish as they've been saying from the Midwest to the Dallas Fed all saying that to 75% rate hike yeah 0.75% rate hike could have been 1% and suddenly nobody believes that anymore today hey I don't know certainly on the volume it would call them liars or being wrong depends on who you're talking to the people that should know or the people that think that they know they just don't know that they don't know maybe anyway massively lighter volume into a previous high we're probably going to high hold it that generally connotes if you hold it the first day that you're probably going to see that high continue on for three more days and this is kind of a pattern that gets a lot of people that are short out of the market at the highs so I don't see any reason of sitting around and continuing being short but also you tend to get something else and that's probably what I'll be doing for the next handful of days and that is the meme stocks or things that you think are iffy we'll start seeing some risk on trades again so we'll be back in a minute booming 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little easier learn to take the path of least resistance with David whites powerful trading newsletter David white is an accomplished trader whose deep understanding of technology and the markets allows him to consistently find and share winning trades support and resistance define the ranges in which stocks trade by understanding these trading ranges David white is able to find a path of least resistance David whites trading newsletter the path of least resistance is delivered daily before the markets open to make every trading day an easy win visit tfnn.com today and subscribe to David whites ultimate trading newsletter for $119 a month and try all of our newsletters risk-free with our 30-day money back guarantee take the path of least resistance at tfnn educating investors are you looking for a way to consistently add winning trades to your portfolio Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded tfnn over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at tfnn.com tfnn educating investors toll-free at 1-877-927-6648 internationally at 727-873-7618 as we return me I didn't do the thing in the lead in I've been warned by the folks at Spectrum to expect an internet outage around this time for a couple of hours so I want to try to get in at least on the top end but I don't know they said somewhere between two and two 30 I would lose my internet connection they generally are a little early on that so I figure that's going to hit me in the bottom after the bottom of the hour but they're pretty good about that anyway just know that I'll probably be cut off in mid sentence somewhere along the show today and that's what it is the old internet they're switching fiber lines up the street and it's going to take them they say an hour or two they generally run a little long on that but certainly I will probably not be back before the end of the show we'll see how long it goes maybe they're goofing off up the street or it starts raining and they delay it a little 877-927-6648 let's do a little history and of course what did I do that I forgot that I didn't do that is every time I run Windows updates I've got to remember to go back and reset everything because for some reason that stuff just does not stick but I will do it again and yes they should wait until after my show but there are CADs at spectrum apparently so what do we have going on today for history US patent office awards a patent to Rudolph diesel for his diesel internal combustion engines this 1898 and he started to do a lot with the diesel and got Mercedes involved and started building it but for the most part he had some bad investments and also Mercedes kind of ran off with a lot of the money so he was having real problems and of course everybody was looking forward to war the Germans were building new boats for the first time remember this is a country that declared war on the world not once but twice one small country anyway they certainly 1912-ish they'd taken his diesel engines and already put them in a submarine and why they were still working out a lot of the bugs they really understood that in a submarine the only thing really mattered was not gassing the people in the sub with the gasoline motors that had existed before so using and basically being screwed out of the patents he had in Germany he started to look for places like the US and the UK which I think was just England at the time to sell his diesel engine patents and technology and tell them how to build them well on the way over to the UK from France to I can't remember where it was anyway there he was going to England and he was going to meet with a lot of the military guys and try to sell them the patents to the diesel engine and midway he found he disappeared and of course they found him floating a couple of days later and it didn't really understand why or how he ended up there he was in big financial trouble so the Germans spread the word that he had killed himself but didn't seem a whole lot of reason to kill yourself if you're going to go make a bunch of money selling your diesel plans to England they had warned him that is the Germans had warned him not to sell the patents and most people believe there were a couple of men missing off the off the off the ship during its voyage which wasn't that long it's from wherever it was to wherever it was it was overnight that was about it but a couple of men missing along with him and most people believe that it was German agents that had bumped him off and dumped him into the water I think that was in 1812 maybe 1813 or excuse me 1913 1912 anyway enough oh no I can always trade on my phone someone was asking me about that it's just that there's you know I'm not I don't have any kind of the bandwidth that we have I've been looking for a secondary system and T-Mobile and Verizon keep advertising a secondary internet system in this area and I keep calling them and they keep on telling us that it's not available yet but they've already got the towers up for 5g secondary systems and when I had problems early on with the internet back in 2001 I was trading I had what was known as a load leveling router that was a router that you could plug into two different systems so I had one set actually hooked up to American on I think it was an American online through the dial up and the other regular phone line or I had a DSL line that was hooked up on the other side of that router so it would always use the fastest which was the DSL at the time and then spin over to the dial up if I had any problems and of course back then everything was slow as snot that's 20 some odd years ago but they still make those load leveling routers and just you know if I had the ability to have two internet connections here I would but not yet the frontier got out of this area which I loved and I've got spectrum which is generally fairly good but they do a lot of maintenance like they're going to do today but if you've ever thought about actually using two different internet connections there is a device that will hook both of them up and load level or share the internet connections between the two so that you'd never have a dropout especially if you live in areas where your internet connection is iffy you know you can always you know fairly soon and of course Elon Musk is kind of coming up with his system so there may be ways of getting redundant systems if you've got enough money on the line it's probably an issue but I do digress I haven't bought one yet because I don't have two but I'm actually going to start researching it and find out which one is good now I think back then I had mine was three calm but hey those guys don't they're not around anymore are they but there if you just google load leveling routers you'll find out but yeah it'd be nice I just you know for years I was living on the other side of of the town and I had the most wonderful fios connection in the world they're hardly ever went out it's a little more iffy over here I don't hear anything on the other side good here's every there we go talk to you in a couple of minutes hey if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report is a comprehensive look at the metals sector as well as the markets that move gold which is the currency and bond markets new subscribers get a 30-day money back guarantee so you have 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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 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 timing 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 godly's abc's 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 going to 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.com this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com we're talking about low leveling routers but uh yeah our trader pretty good you know if you're if you've got iffy connections and where i live before was perfect uh it was always uh the internet itself or somewhere else the office maybe if i had problems with my with my uh show internet but it was never with the fios that stuff was rock solid so the spectrum not quite is is wonderful uh anyway we have some people uh we've got pretty much uh let me put it this way we've got a market that's pretty much uh driving everything into a very few stocks to get the volume uh i mean the index is higher today but it doesn't matter what you look at it's problematic to be best um microsoft on uh was that may fourth uh gap down the next day on the fifth with 43 million shares you're into that today with 18 point uh and let's call it 14 million shares so far so you're getting a lot of these highs attacked on very light volume um microsoft probably the better of the bunch i wouldn't be shorted uh but uh it had a nice gap up higher one of the dinners uh had it i wasn't very hot on it because i of course was thinking that we'd gap lower but uh no i don't think we're going to do anything other than hang up here for a while if we gap down tomorrow maybe that's something but my guess is they're going to hold this up for a handful of days until every short is out of the market uh it's not that it's real not reliable it's this that we have so many somebody in the den saying spectrum's not reliable they have to do a lot of maintenance because there's a lot of i'm in most people don't know that panellas county is the most i think the only the most densely populated county in america except manhattan so you know we've got some land but uh there's a lot of people here and when they're adding new uh all kinds of things new condos new houses uh new businesses there's a reason they have to continue adding more infrastructure to supply those or in this case they're getting rid of copper because the phone company is leaving so they can't lease leave those uh copper lines up anymore those are probably worth a ton of money don't you think they're going to leave them up i talked to the guy who's out working on the pole earlier today and uh he says they you know we're just going to leave them up there for a while he says eventually come by here and take them down and sell the copper and apparently it's worth a lot a lot more than the fiber they're throwing up or bearing bearing yeah bearing uh anyway uh we're talking about microsoft out here again we can look at a lot of these stocks and take a look at apple apple pushed a couple of times higher and rolled over throughout the day now it's kind of sitting up here not too far from its highs but again you just go back and look at really since the gap higher on the 29th of July you can draw a fairly nice line down here and today the gap higher with 41 million shares the last big sign of strength was on the third that had 82 and a half million shares so you're into a lot of these highs with half the volume but uh again i the best i can say generally when the market goes sideways at as it has right here at 4200 and you don't get a lot of movement uh is that the thing is going to sit up there for about three days before it starts any kind of significant pullback so on apple uh hard to say everybody's already flogging uh supposed new products uh that they're going to roll out in september um so i don't know can they keep it going it's going to be tough uh ibb we'll see if there's any volume in that today eh now kind of i think i'm going to find everything that you find here today with a volume which is not a whole lot on the 10th or on the 8th you're up on 2.6 million shares you got about 1 million shares today so yeah could it roll over tomorrow yeah but i wouldn't bet on it question about the gld that we have here now okay yeah you're just up against resistance it's going to take a while to chew through it this gap down was on the 5th of july with 14 million shares yeah you'd get two and a half million shares today 3.2 the day before 3.3 6 million 5 million you're just it's just going to have to take a while to chew through it but uh eh dollar moving the way it is if that continues uh pretty nice okay uh i've had somebody emailing me i mean almost on a three or four time uh day as the market has gone up every single five minutes about how he's shorting the market once again and we've got once again another prediction of the end that's why i think it's going to take three days and that is uh we're gonna have to wait until these folks quit emailing me and quit telling me how they've shorted 50 million dollars with a microsoft every day on the way up and still aren't broke but uh that's just me okay generally when those guys quit going on the market rolls down we don't have a lot of shorts so i'm not surprised that we're up here with very light volume today although they've jammed it up here uh okay i got another email if i can find it here i know it was it what are the odds we likely see railroad tracks on the dollar daily chart tomorrow i'm long i know i'll get calls i just realized that that's what would probably stop it here uh well you've got resistance there already like i said i'm not a big fan of probably backing out of the gold trade here uh but uh yeah i don't think well let me put it this way the the person i listen to the most um is a trader that i know i'm good friends with for over 20 years now uh that was a floor trader uh in the cboe but he's saying that there's somebody out there with a lot of cash and that's why the dollar is down the question is is this a are they going to continue uh pumping cash is there a reason why they're pumping cash is it uh the treasury is that the fed he leans more to the treasury pumping here and trying to get the dollar down maybe to get the economy going but uh at that point again you start seeing bonds fall um but he thinks that there's a there's a big industrial reason behind that dollar move today and that they're trying to either break it down on one side but i'm thinking the fed wants the other don't they they probably higher interest rates means a higher dollar you will really believe that interest rates are going down significantly with interest with inflation still at 8.7 percent that it didn't go up is kind of the equivalent of saying yeah i'm beating my head against a wall and i just do that because when i stop it feels so good i it's just tough for me to tell so that's what i'm going to say is at the moment i'm going to wait for any kind of signs that the huge amount of cash being uh dumped into the market driving the dollar down changes i wouldn't move my gold position if i was long again you don't have much of a difference out here today but uh you might have a little bit of a pullback you got to think that eventually that dollar probably will be back in a minute tfnn has been your trusted source of analysis for bonds metals stocks commodities and options for years and we are happy to announce that we are bringing that same caliber of analysis for the forex market teddy kek stat has 30 plus years of experience in forex trading commodity risk management forex hedging volatility and so much more teddy releases his weekly tiger forex report every monday morning with elite coverage of all major currency pairs including the dxy euro dollar pound dollar ozzie dollar dollar yen dollars swiss frank and so much more teddy will recommend specific 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weekly newsletters every friday with updates throughout the week you can get the technology insider at tfnn.com for only 37 in 50 cents sign up for david'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 are china a shares hot or not if you trade china a shares now may be time to take a closer look trade chau or chad directions daily csi 300 china a share bull and bear etfs china a shares in either direction visit direction investments dot com today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-476-7523 the prospectus or 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 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 and as we turn everybody's saying that they're hitting volume everywhere well there is a lot of little short squeezes small caps have started to get a little bit of froggy velodyne lidar bldr this was one that was very hot a long time ago and the interesting part of this go back what a number of years here was that the 2020 was i wrote about in the tech insider it was always interesting to me how they had a system i think back in 2020 at the beginning of 2020 was about 45 thousand dollars to install and on a car and must system for self-driving this is all about self-driving stuff was about two grand and that was manufacturing costs so 45 grand who knows how much it would cost retail let's say that they got the price down 50 percent it still be 22 23 grand 25 grand something like that plus whatever they needed to make on it so maybe 40 grand compared to must two grand for his system which they i guess if you miss that we'll look at this next but not surprising that there this is a penny stock these days it was very tough for me to see how they would ever get the costs down low enough now interestingly enough with all the noise surrounding willy by twitter and everything else and did he sell shares um on friday they had to admit that their self-driving stuff just runs over motorcycles left and right in testing so you know i think there's some lawsuits on this where it actually has run over a few folks on motorcycles but uh yeah it doesn't seem to bother it so much today did have a lot weaker down and of course all people are going to talk about is must-selling shares and twitter and all that i think there's a lot of reasons like i said probably a 40 60 stock one day the question is that just one point does everybody wake up to see that there's probably isn't much of a change i know that why everybody loves the Tesla at the moment uh those uh you know we're going to probably see a lot more of the the uh of other cars getting into the market for evs and it's probably i'm going to say over the next year i suspect that we're going to see this down in the 400s maybe 450 but it's going to take a little while for these things to roll over but uh yeah if you got yourself doing a self-driving option on it just don't put a motorcycle or a bicycle in front of you that's it yep he certainly is selling when he can not when he has to okay so what else do we have here okay um yeah it's we're just stuck at 4200 looks to me like they're going to pin it here and maybe pin it into Friday um so again i'm going to have to see some evidence uh that uh that dollars stop being uh either sold or you know we won't know for a few days on where all that cash is coming from but it's certainly a lot of cash coming in driving the dollar down today uh we already looked at the tlt i don't think there's much to say in that jeff uh let's go take a look at the smh's uh i had the q id uh in the tech insider just because it looked so horrible but i had it from the day before so there was a lot of room uh to uh to be wrong here today you're not a whole lot higher in this uh but uh it's still a very you know you're basically got a short squeeze and there were all there wasn't a lot of shorts but uh the usual suspects were still there uh both in advanced micro and in vidya uh with tons of people shorting them to the tune of nvda to 30 40 percent of the shares yesterday so i'm not really surprised that we see these with a little bit of a reversal but what you don't have is any kind of volume could you get a little bit more 182 50 ish out of nvda i think you can uh to to to okay is the xle a doji being halfway on the move up or down um i'm fairly bullish on energy right here so i would say it's probably it's more than likely half on the move back up to 78 66 uh with the dollar i'd be very uh reticent to sell it if i was already long the xle i think uh energy will probably come back it's going to take a little bit more time than gold probably but uh both those probably looking fairly good if we continue with a declining dollar so yeah halfway move and that's about halfway to that 78 66 i on the xle you've had some nice movements you don't have a lot of volume but on a doji day that's kind of a tie goes to the runner you really want to see what happens in the next couple of days uh it's very tough for me to see that the whole world doesn't go to hell in a hand basket if crude demand remains this low uh but uh you know we're actually uh driving less and of course the high gas prices actually had us driving less than the uh same time in the pandemic when no one was going to work so you know that certainly got us off the roads which is what they wanted but uh you know got uh 77 and a half yeah 78 i think that's certainly possible uh okay yeah hector so halfway on the way up i'm looking at the glass half full okay and what do we have here okay got a couple more emails last chance to get to this one okay we'll see okay okay work day we'll get to from for linard it looks just like the rest of everything out here you got one and a half million shares this is going into this gap down from the 18th of may that gap down with four million shares so you've gone through it with 1.5 again my belief at least at the moment with what i have is that you may have a high here but that high may take a couple of days maybe even into friday to ring out whatever shorts that are left in this market maybe even the people that shorted today i think probably if you're looking for any downside you know do we gap down tomorrow on something some unknown news could happen but uh minus some real bad news my guess is that they're going to make everybody pay up if they're short over the next couple of days we'll be back maybe in the next couple of minutes 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 accretive transaction vista gold trades on the nysc american and tsx under the ticker symbol vgc vista gold executing a strategy to create shareholder value 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 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catch Tom O'Brien professional trader and educator founder of tfnn also a special guest on CNBC Tom will bisect and dissect the markets the Tom O'Brien show next on tfnn welcome back folks we have the now now is up 439 asex up 322 s of p's up 75 and yeah the Dave's getting his internet fixed uh bottom line let's go over to the spy because what you're gonna have here folks uh more likely you're gonna have a confirmed abc structure on the way up uh you have the the spy right now you're at 418 72 you're gonna need i want to see like 68 million uh but they can do 68 million pretty easy we're at 46 million right now now here's the divergence okay so that's the spy the ndx 100 is a different animal man ndx 100 this is actually pretty dangerous what it's doing and this is what it is the ndx okay well the three cues can't get into two uh 326 47 we hit 325 78 and that's always a little dangerous when you're going up in a big day you have a swing that's sold off on which we sold off on that on uh monday um you know so this is going to be interesting watching this whole thing shake out here man you know it might take a little rest but that ndx uh is important to understand and of course we go back to king dollar now king dollar this is going to keep the market itself folks i suspect we're going to go a lot higher and this is why this is a valid break not only a valid break but this is a break saying now you know we were talking about when you get widespread accelerated volume on a break this is saying the dollar is going to 97 and you know the first the first break was we had got the first break uh last week okay that was saying that we were going to 105 this is a nice break man this is a really cool break um you know you have the price spread in a dramatic way so that's saying guess what you're coming all the way back down and if that's what it is if that's what we get you're going to start you know yeah the the market can consolidate a bit you're going to pull back a bit but the bottom line is that uh this market wants higher price we go into the gold market we take a look at the gold market out here we have the gold market right now uh and this is uh really deviant uh it's a nice setup though now watch what you have here we actually had higher volume today and a pullback seven dollars you get higher volume you pull back we go on top side once again stay right there folks who come right back building wealth trading in the stock market seems and