 The following is a presentation of TFNN, the morning market kickoff with your host Tommy O'Brien. Good Monday morning everybody. We kick things off 9 0 6 a.m. about 24 minutes to go until the start of trading and you have markets in negative territory. We trade higher. 4 a.m. Eastern time. We got about 4500 briefly. We pulled back from those highs and we're chopping around a bit in negative price action with the S&Ps off by 7 points right now. We get the NASDAQ 100. We're off by 21 trading at 15073. We get the Dow this morning off 36 points, 35315, excuse me in the Russell, off by 7. We jump over to crude. A little bit of a negative action. Crude below the lows of about 3 in the morning last night. We're trading right now at 8206. We were just down there at an 81 handle. We jump over to gold. Gold lower this morning. We just hit 1937. We're trading right now at 1941. It's down about $5 or $6 on the session. We have silver off about 2 pennies at 2272. You jump to notes and bonds. We have a lower price and higher yield quite the reversal as we are now actually approaching below the price action that we were trading at coming into the jobs number of a Friday before talking about that number of August 4th. And you're talking about yields now on the 10 year approaching 4.2%. Look at the move we had. I was talking about it on the program on Friday even. Absolutely remarkable. You trade up two full points. You trade back down two full points in the span of about a week. We now have the 10 year approaching a yield of 4.2%. And you take a look at where we are on this chart. We're very close to the lows which correlated to the highs in yield. Think the 10 year hit a high yield of about 4.3 or 4.35. Maybe somebody has another dent for me. Back there, the August, excuse me, October, right? Yes, October of last year. And check that out, right? How many times has this market gotten a little bit ahead of itself? And these are mammoth moves on the 10 year trading up to 1.16, getting back to a 1.10 handle. Just one second. Getting my chart straight. Thank you. Trading to 1.17 and then the chart says it all, right? We now have a 1.09 handle yet again. We're approaching those lows. And it's interesting how the narrative goes in terms of we have higher yield this morning. And what does that correlate to? That correlates to a higher dollar. We've gotten back that entire chart pullback. And I remember these bars, when we were going through these in the beginning of July, I can't believe that's almost six weeks ago. Do you remember folks watching these programs when we were going through these charts? And I was saying, I'm not sure what's going on. But the way these candles are drawn on the thinkorswim platform, I'm not sure that's how the days went in terms of opening at the lows of each session, meanwhile getting huge tails to the upside. So I'm not sure what's going on with the data in terms of the individual candles there. OK, but the pullback is real. We traded from 103.50 in July 6 down to a low of under 100 at 99.57 back about a month ago, right? Got to that price level. Yeah, exactly a month ago. About July 13, July 17. We traded higher July 18, and it's been a one-way trip. And we're now back to those highs in terms of where we're trading at at 103.21 right now on the dollar. So what do we have? We have dollar strength. We have higher yields. We have a weaker market. That's been the trend lately, man. And we have a 10-year yield at 4.2%, which is some wild stuff. When you look at it, now, here's what's absolutely remarkable, OK? Which is what we're going full circle here. Where was the market the last time yields were where they are right now? That's when the market was freaking out, man. That's when the market was absolutely down at 35, 3600. Yeah, you started to catch a bit at the end of it. But look where we are in yields now. Look where we are then, OK? And yes, we are at a different point in the hiking cycle. I get it, man. We're going to talk about some articles. I was reading them this morning early, talking about, I think it's Goldman Sachs. I'll have to pull it up, talking about that they think that the cuts are going to come in June or July of next year. That's less than a year away. If that's the case, man, you can see where the market has some optimism. But in context of where we are now on yields, in context of where we were back then, take a look at where the dollar index was back then. Absolutely remarkable. All of this stuff has happened, OK? Now, you could say that the market loves a weak dollar, right? Which is definitely true to that degree. So we have a weak dollar to that degree from those highs of 114. But how interesting is it that our yields are the exact same? All that's happened is everybody else caught up to a certain degree, right? Let's jump around to some of those currencies right now. You got Euro, US dollar trading at 109. That's a pullback as we've had the dollar accelerate higher. You jump over to the dollar yen, dollar yen right now pushing 1045, 38. Actually above, right? Yeah, above the highs that we had on June 30th. Let's take a look at the VIX this morning. Yes, we got a little negative action. We got the VIX spiking this morning at 1596 so far. All right, let's jump around to some of the headlines we got this morning. This is a big one. Interesting to see if we get a little contagion. China, finance, giants, mispayments, alarm, regulators, and markets. There's a lot going on with China. China, think about how to phrase it, right? And thinking that you know everything is going on is probably not the right way to do things here. You have there is unknown information out there to say the least. And now you have the largest private, one of the largest private wealth managers has triggered fresh anxiety about the health of the country's shadow banking industry after missing payments on multiple high yield investment products. They manage about $138 billion. It's a secretive financial conglomerate. So who knows how tough really China is, man? They've had some weak data come out of there, right? So this one hits this morning and you can't hide it when you owe somebody money and you don't make a payment. There's nothing quite as clear as that in terms of alarm bells going off. In a sign that Chinese authorities are worried about potential contagion, there it is. The banking regulator has set up a task force to examine the risks according to people familiar with the matter. Yeah, so I would just keep that one on your radar, man. The missed payments, yeah, that's usually where the red flags begin because you can't hide that when it's time to pay somebody their money and you don't have it, right? This one from Bloomberg out there out yesterday. I was reading this one earlier this morning. The Fed's playing a waiting game to try and avoid a recession. By next spring, signs of success or failure should be clear. It would make sense they can wait a little while. Talking about it last week, right? With the ability to pause, hike, seems like if that's their trend, they're probably going every other meeting at a maximum almost right now. In terms of giving it the space to go another meeting, I would say, I think the odds are like nine or 10 basis points priced in for a hike. I think that's what it was last week at least. I think that's over the real probability that there would be a hike. If you have a 10 basis point hike factored in of 25, that's basically a 40% chance that they'll hike in the next meeting. I do not see a 40% chance that they're going to hike the next meeting, man. Everything is lining up for a soft landing, but they have to get inflation under control. That's the kicker here. We still have some big numbers. We have crude sitting at $82 this morning. We have yield shifting a little bit higher yet again. We have the real estate market potentially finding a bottom and finding a bid. What's going to happen to that real estate market when interest rates start to go down again? I mean, that's a big picture question for sure. But you think about the economy, how so many people right now don't have the ability to sell their house because they don't want to, because they're locked into an interest rate that's not worth giving up, right? But when that changes, number one, you're going to have more buying power, but it's also going to release the supply. So it's not going to be an automatic huge boom because we have a supply problem right now. And think about the ability as rates potentially go down in the next couple years for people to actually sell that house that they've been trying to sell, but weren't willing to give up that interest rate for you. All right, folks. Stay tuned. Lots to talk about. It's Monday. We're coming back. Stay tuned. If you're looking for potential trading setups in the stock market, then Rocket Equities and 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 and 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. If you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. 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Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's Market Newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 Days Risk-Free Today. TFNN Educating Investors. Welcome back, folks. We have the S&P down about nine points right now trading at $44.72. You look at the run we've had since March, right? Pretty near those highs we've had recently, but you've given up just quickly. A hundred and what is that? 160, yeah, 160 some points from the highs. And what is that approaching? Just more than 3% about from those highs as we are now going through the potential highs we had back in the beginning of July, the high we had back in the middle of June, that high $44.93 and about $44.98. So we're about 20 points below that level, man. And as you see, right, there's not much in the way until about $4,200 in this market. Remember, $4,200 was the ceiling for so long. It'd be interesting to see if that actually becomes the floor that you have to test for this market. And time will tell, as they say. Jumping over to Goldman. I talked about it. Yeah, it was Goldman. Pencils in the first, Fed rate cut for second quarter of 2024. No more hikes to come this year. 25 basis point cuts per a quarter is what they're talking about there. I think that'd be like every other meeting, right? It'd make sense if they go every other meeting when they're at the end of the hiking cycle. Unless something's really broken in the market, it would make sense that they ideally, right? This is like the ideal scenario. And we're not out of it yet. But that is the ideal scenario. You hike at historic fashion at the end of that hiking of historic fashion at a historic pace. You go every other meeting for a couple, you pause for a year, you start going the other way with cuts, you go every other for a while with the cuts, and then maybe you can bring it further. But Goldman, they're talking about we'll start lowering interest rates by the end of next June. It's only 10 months away with gradual quarterly pace of reductions from that point. The cuts in our forecast are driven by this desire to normalize the funds rate from a restrictive level once inflation is closer to target. You have to remember how restrictive it actually is. We're pushing 5.5%, right? So even if inflation is at 4.5%, it still theoretically should be restrictive to the tune of a whole percentage point there, right? So as they bring inflation down, you shouldn't need interest rates to be so high to get the restrictive influence of those rates going forward. The rate setting FOMC is expected to skip a hike next month and conclude at a November meeting that the core inflation trend has slowed enough to make a final hike unnecessary. Man, you ever get that type of wording from Chairman Powell? Watch out. Normalization is not a particularly urgent motivation for cutting. And for that reason, we also see a significant risk that the FOMC will instead hold steady. We are penciling in 25 points of cuts per quarter, but are uncertain about the pace is what they say. Well, how can you be so certain a year out? We got a lot of data to come, man. We got some comps that are going to get especially interesting when you start going out. We have pockets of inflation that are there undeniably in this market, and we get to see how it all plays out going forward. All right. What else do we jump to? Let's jump to a little Tesla. Tesla shares drop after the company announces China price cuts. Fell after the company announced a fresh round of price cuts in mainland China. Going to apply to the Model Y crossover and the Model 3 sedan. And yeah, the price cuts are on, man. So they get a discount of about $2,000 on the Model Y. China, they get about, excuse me, the Model 3 in China gets about an $1,100 cut. You jump over to Tesla shares. They're going to open down about $7. So you're going to open down about $35. And look at that. We're filling this gap from June. That high, $2,523. We're within about 50 pennies of it right now. Let's see how we trade it. Yeah, we got there. $2,3503. We filled it in the pre-market right now. Tesla low about $7. Pretty remarkable. All those shares Elon sold. Can't help think about it. Every time I see this stock under $250 bucks or even below that, as he was forced, folks. I mean, everybody says, you know, what are you doing with Twitter? What a debacle. People who are Elon haters. And listen, I'm not an Elon fan, okay? But there are some real Elon haters out there. And the people that are Elon haters, they love to give them a lot of grief right now for Twitter. And man, that's an easy one to give, because he is playing a very long game. And that very long game has cost a lot of money in the short term for the valuation of that company. But you take that into consideration, think about the money that he saved by offloading all of those Tesla shares at a price that you can't even think about right now at $242. I mean, he was getting anyway. I remember, folks, I think this is when it started to happen, right? April of last year. Let's pull it up on the daily. I think that's when it happened. April of last year. I remember we came back on Monday, April 4th. And the news was that he had acquired a massive position in Twitter. And Tesla actually went up. And I remember thinking, what do I know about the market, man? Because that seems like a really bad news story for Tesla that Elon is potentially acquiring a position to go after Twitter. And then guess what? Tuesday, everybody figured it out. And Wednesday, it kept going and the stock never stopped until it got to $207 from $380. So don't be afraid when you see headlines like that, man. But it's interesting when I pull that up. Yeah. And the price cuts are on. They are going to go, they have a long way to go to reach the mass and the economies of scale that the large car companies have. And that battle is now on in a big way. And don't forget about what Elon is willing to sacrifice for the long term in the ways managing Twitter. And I don't say that with any bias whatsoever, man, because you saw how he did it with Tesla already once. And now he's got to do it again and turn it into a different company in terms of being able to mass produce cars like Ford, like GM does. But be aware of the carnage that takes place sometimes and profits are going to become secondary right now as they need to grow their economies of scale on Tesla and the multiples they trade at are pretty lofty for where they are. They need to do more than just sell cars to put it lightly as we all know. All right. Let's jump around to some of those other car companies, man. We got GM shares. They're trading lower this morning, $33.90 for GM. We jump over to Ford. Going to be interesting to see how the auto workers and this whole saga continues, man. That battle is on the big way. You got Ford down about 10 pennies right now as we got the markets down about 10 points. And let's stay on the Elon saga for a second because I think he bought this one and not like he really cares maybe, but Zuckerberg seemed to got the best of a man. And boy, Zuckerberg, he's looking pretty lean, mean fighting machine, if you've seen him. Elon not looking as lean, mean fighting machine as Zuckerberg. And he finally called him out. Time to move on. He says, do they have the post in here? They probably do. Come on. Yeah. Well, they got a quote at least. If Elon ever gets serious about a real date, otherwise time to move on. I'm going to focus on competing with people who take the sport seriously. I don't think must play that one well, man. I mean, especially that you have Zuckerberg launching threads and then you have this public spat that allows more attention to be put on your competitor. And I'm going beyond, you know, to the richest man in the world potentially sparring in the octagon. But the fact that Zuckerberg released threads gets a hundred million million people on that app. Somehow they get into a spit match about fighting literally fist to fist. And then Zuckerberg after launching threads and getting a hundred million subscribers calls him out and says, he's obviously not serious. We've set up a time. I've given him times. Dana White even said that they'd provide an octagon or something like that. And he won't do it. Now he's talking about getting surgery, yada, yada. Yeah, Zuckerberg, man. Watch out for Zuckerberg. The Zuckster. We jump over to Metta shares. Trading at 300. This thing's been on quite a tear to start the year, but a little bit of a pullback from 326 to 301 finally breaking out of that channel. Boy, that was quite a channel, man. Quite a 2023 for Facebook and Metta up to 326 pulling back a bit. Stay tuned, folks. We're coming back for the market open. Tigers candlestick pattern analysis is a primary tool among successful traders and you should be no different. Candlestick patterns can demystify buy points, sell points, general price movement and so much more. At 4 p.m. on Monday, August 14th, trader Teddy Keckstat will be hosting a live hour long webinar on Japanese candlestick patterns. 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We have the Nasdaq 100, lower by about 40, trading just above 15,000, 15,056. You get the Dow barely in positive territory. Catches a little bit of a bid on the open there, up by 14, 35,363. We got the Russell in negative territory off by about a half a percent, almost six tenths percent now in the red, the Russell trading off 11 at 19.20. We jump over to the dollar index this morning, DXY. Look at that acceleration, man. Across the board, you get the dollar index. 50 pennies, man, at 103.34. I mean, they look normal because of the moves we've had, but not normal moves. I don't think the markets are going to like that strength in the dollar this morning, man. That is a tough pill to swallow for markets as we have yields approaching 4.2 percent on the 10-year right now. We have the dollar up dramatically and we have the S&Ps down about nine points. What else we got going on in terms of individual equities with news? As we kick off the week, you jump over to PayPal shares. They're up 1.8 percent. There's a little volatility for you and you have Intuit, an executive at Intuit. Alex Chris, who runs the small business and self-employed group for Intuit is the new CEO of PayPal. Yeah, he's going to take over beginning September 27th, so that news out this morning. How about US Steel? They reject a $7.3 billion offer from Cleveland Cliffs, consider alternatives. They're reviewing strategic alternatives after receiving several unsolicited bids. X is their symbol. They were trading higher on the pre-market, man. Yeah, there you go. That's always nice when you get to say no to a $7.3 billion bid. Let's see where their market cap sits right now. You jump over to the fundamentals. So they have a 6.5. They just turned down a 7.3. Seems like there's free money to be had over there for US Steel. I kid folks, not free money to be had. Obviously, many things loom, but it is interesting when you look at that, right, that they just turned down a $7.3 billion dollar buyout from their rival. They rejected the offer because Cleveland Cliffs was pushing it to accept the terms without being allowed to conduct proper due diligence. Now, due diligence is making sure, part of due diligence is making sure that you are getting the best value for your shareholders, which could imply that maybe they think they can get more. Cleveland Cliffs, this wants to quick transaction. They're turning it down. They want to be able to go out to the public potentially, and now the market's valuing that company. They want 25% more, 27% more. And yeah, they are catching a bit as that market converges closer to $6.5 billion dollars as they turned down 7.3. Not bad to buy a company for 6.5 if you got other people out there already willing to buy that same company for 7.3, right? Risk is, this all goes bye-bye, and this stock goes back to $23 where it was trading out on Friday before that news came out. A little risk reward. All right, let's see what else we got going on up here. Yeah, we talked to SDO, we talked Tesla. They're all huge moves on different equities. We got an upgrade, a downgrade here. Urban Outfitters, they get a downgrade. Let's see how they're trading. Yeah, down a bit. Off 1.2%. They were as low as $35.41. Let's jump around some of the thanks stocks. You get the Dow rolling back to negative territory. Apple shares actually in the positive. When we got right across the board right now, Apple up 21 pennies right now. You jump over to Microsoft shares, down a quarter percent. You jump over to Google shares slightly in the red this morning. Tesla down 3.3% on the heels of their price cuts over in China. You jump over to Novidia shares, down about seven tenths, Netflix shares, down about six tenths percent. Disney had some action last week with their earnings. They're back to $88.75, quite the pullback on Friday. Really going to be interesting to see how the writers and the actor strike plays out. We are on a new frontier in terms of Hollywood. I was thinking about it just even this weekend. The kids like to watch a lot of cartoons. There's a lot of great cartoons out there these days for kids. I listened to a podcast recently with one of the executives of Pixar. They were talking about how even the dream of being able to have a movie like that that you could just completely digitally produce like that was 10 to 20 years in the making. Nowadays, they can pump these movies out and imagine it's only a matter of time until ChatGPT4 can write the scripts and the stories. If there's one thing that AI gets some rightful criticism for is actually it can just create things sometimes. I think we all heard the stories early on where some of the early chatbots from OpenAI, when you had in-depth discussions with them, they were actually fabricating stories, facts, and then fabricating journalistic credited stories to back up what they were saying. For instance, this person was accused of sexual misconduct according to two Washington Post articles from 2005. It was something like that, right? Point being, it can create things, man. It may actually be really good at creating stories. It may actually have a problem with being 100% factual, which is what we all want it for, to replace Google, to find everything out, right? That may be a problem for some time, but the problem in that actually may be the benefit when it comes to the fact that it can just create things. Then you think about how many cool digitally created movies are out there. Then think about that they can create voices. You say, yeah, but can you really create that great voice? There's so many Hollywood screen actors that do voices for animated films. Can AI really create that great voice? Well, here's the thing. You just create one after the other after the other. If you give it enough sample size, it's going to create that voice that you like, folks. They'll go through them. It can all be created. You're going to need the visual aspect. Listen, we're going to need movie stars. That's why the background actors type deal. That's what's going on right now. There's a big fight over the likeness of background actors or something like that, because we still need real people in our movies. But what happens with animated movies? I was just thinking that, what happens with animated movies? We don't need real people in animated movies. You don't need real voices in animated movies, and you probably don't need real people even writing it. How's that play out? I don't know how this is going to get done in terms of people making sure that they are fighting for their likeness in terms of their voices, their writing, et cetera, because we are at a forefront. This could be a wait for some time on Disney Netflix to a certain degree. Jump over to Warner Brothers Discovery. They're lower by about seven tenths right now. You jump over to Paramount down 2% right now. A tough go around when some of these studios have had huge box office hits with the likes of Barbie and with the likes of Oppenheimer. What else we got going on? Let's see. Nicola with some action continuing. It announced a recall of 209 electric tucks following an independent investigation of a June fire. It does not impact its hydrogen fuel cell trucks. Nonetheless, you take a look at this chart. How's that one looking for you, man? Be careful across the board in some of these equities, folks. Tough to remember that back in 2020 when things were really skyrocketing, Nicola was up to $55. You just traded at 50 cents. You're trading at $0.76. You're down 10% again today. Mark, S&P is trying to find a bid right now. We're negative by six points, trading at 44.75. Stay tuned, folks. I'll be right back. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks, and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. 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Distributor, Four Side Fund Services, LLC. VGZ Tesla in the magnificent seven, which is getting hit by their news, lowering prices in China off 2.8%, but you see Nasdaq 100 now up by 10 points, growth stocks continuing and interesting in the face of we have growth stocks trading higher, right? And we have the 10 year continuing to climb right now in terms of yield as we're pushing above 4.2%. Above 4.2%, man, since I came on the air, we're down, what, four or five ticks? Just like that as we're above 4.2% on the 10 year and that is putting strength in a dramatic way into the markets, excuse me, into the dollar as we're pushing 103.40 right now. I mean, look where we were at eight in the morning. You're at 40.40 pennies right now from 103. We were at 103. I mean, I was getting ready for the program. I was at 5.30 this morning. Excuse me, but really start looking at the market between seven and eight, reading some stories before then. Dollar was not as big of a story, man, as it continues pushing higher. We've only had two red bars, call it three red bars since in the last two hours folks, three red bars in the last two hours and these are five minute bars. So what are you getting? You're getting 12 an hour. It's about two hours. We got 24 bars on there in the last two hours and we got three red. One of them barely read. Yeah, as we're pushing dollar strength, higher yields and a market that's actually enjoying that and trading higher on the open a bit. Now we talked about China. You got the Hang Seng this morning down about 1.6% on that news. You get the Nikkei off 1.3% Shanghai off about a third of a percent right now. So keep your eye on China because there are a lot of headlines out there, man. I could spend almost a whole program talking about that story in terms of the potential reverberation of one of the biggest financial institutions out there, missing the payment and how that could reverberate through the banks and their economy. All right. What else do we have going on? Our man Teddy Kegstad folks, he's got a webinar today. Okay. We got a great market for this webinar right now. Teddy's got a webinar. It is a standalone webinar. Okay. So sometimes newsletter writers have webinars that they incorporate within their monthly subscriptions. This one a little bit different because Teddy is obviously a forex trader. We talk to him every Wednesday at 40 past the hour. He's taught us all a lot about forex markets, how they work in terms of how they trade, how they're related to bonds, notes, yields, currencies, interest rates, as we've all seen. But he also is an expert on candlesticks, folks. He's written a candlestick book. He's an equity and an options trader as well. So this webinar tonight from four till five is just geared towards candlestick pattern stock and option strategies. Okay. He's going to be in there for an hour, 60 minutes from four till five. You're going to learn how candlestick pattern stock and option strategies in today's volatile trading environment, how you can correctly implement those strategies based on the pattern that develop in the market and how they can be applied to stocks, ETFs, options. I encourage you to check it out, folks. It's $97. Again, there's nothing recurring. You get access to the webinar. We should have a good crowd in there. It's right in our Discord server. So if you're already in the den, it's as simple as signing up. We tag you. You jump into the room at four o'clock following my dad's program. And please don't wait until the last minute, okay? Because if you sign up at $359, we do have to even tag your account within Discord, okay? And we have to do that manually. So I encourage you to give us a little time if you're thinking about sign up. Sign up right now. Check it out. Teddy will be in there at four o'clock. I plan on watching it. And yeah, he's written a book on it, man. And there's nothing like candlesticks. It seems like everybody uses them these days. It wasn't the case for some time. I can't remember the last time I looked at a chart that didn't have candlesticks just because of the way it instantly tells me so much about the price action of the equities. And that's why candlesticks work, folks, okay? This isn't some magic candlestick formation. The reason why the formations mean something is because they're an explanation of price action, right? And that is the reason why they are indicative of formations that can form tops, form bottom sometimes. One of the first things that trading I learned was candlesticks. I think it was Steve Nissen, candlesticks, right? Steve Nissen, his candlesticks books. My dad used to have him on. Learned a tremendous amount about them and never looked back. So if you're definitely getting into trading, folks, check out the webinar tonight with Teddy, four till five. It will be archived, so you can watch as many times as you want. Yeah, it should be a good one. All right, we got markets in negative territory right now. What else we got going on out here? Interesting one about the journal this morning. I was reading this one, the big banks are supposed to fail without causing panic. Is that even possible? Boy, it makes me, you know, we learn a lot from history, folks. And don't forget, okay? Don't forget that it was all we needed was a banking crisis, okay, to save this market. And it seems like that's where the Fed had to go, right? They had to go somewhere until they broke it. They had to break two of the biggest banks in the whole country. They go BK. And that was March 9th. Think about it, that was March 9th. And the low was basically made on the 10th. And from there, the market traded up 800 points more than a 20% run following that banking crisis. Because that was it. Everything tightened up. The Fed was going to let the market do its work, even though we didn't figure it out. We had a consolidation for a period of couple of months. I'm not sure that's exactly how it's supposed to work out that easily. I bring that up because is that even possible, right? Is there a way to tame inflation in terms of all you have to do is break a couple of banks and that's what the market needs to trade up by 20%. Well, that's the way things work, man. But this one talks about regulations as well. We really need to look at these closely to see if they're realistic, talking about winding down failed mega banks and how that works. Thankfully, we have the regulations we have in place, folks, because the big banks aren't allowed to play the games that banks with $200 billion are allowed to play. Think about that, right? In terms of we all got a quick lesson of banks allowed to put on their balance sheet, hold to maturity securities that are vastly overvalued from the true mark-to-market value of those securities today. That in itself, you tell any common person even in finance, when they figure that out, you say, well, that seems problematic because what if they don't have the ability to hold those securities to maturity because people want their money back? Say, well, that's okay because that only happens when there's a run on the bank. Well, we saw how that plays out so quickly, right? So, regulations are very important and guess what? They're coming for some of these middle-sized banks too. But yeah, an interesting read out there, talking about the banks for sure. All right, what else have we got going on up here? We talked about China. Yeah, we talked a little bit. Yeah, let's talk a little bit of this one. So, this one's interesting, talking about Schwab and TD Ameritrade. So, they acquire TD Ameritrade, which is the owner of Thinkorswim as well. And so, they have some attrition going on here, but it seems like that was the expectation. Temporarily lower net flows from client money as the brokerage sees attrition from some retail and advisory clients' assets while it integrates TD Ameritrade into the business. They've stepped back from certain custodial relationships and it's about a 4% of Ameritrade revenue of the deal or 1% of the combined total client assets. So, not a big deal there, but interesting as they see that happening in Schwab. Yeah, they've put some pressure as well with the banking prices going on. Falling back some of those losses though, but today down about 2.4% on those numbers, S&P off by 8. One more segment, folks. Don't go away. We'll be right back. TFNN has just launched their new trading room, the Tiger's Inn, 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 Inn, available to all Tigers and Tigresses for just $1 for the year. There's no catch or added costs when you join our community of traders. In the Tiger's Inn, you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas, interact with other Tigers and Tigresses as they share trading ideas, news analysis, and discuss the market action all trading day, even at night and on the weekends. The Tiger's Inn at Discord is accessible on mobile or tablets as well. So, it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of TFNN.com. 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Thank you for watching this video, and I'll see you in the next one. Subscribe to the Fibonacci 24-7 newsletter today, TFNN.com. Educating investors. Leading the way up right now, you're up by 27 points in the NASDAQ 100. You've got the S&Ps just off by 4 right now. Don't forget about Teddy Kakes at this afternoon at 4 o'clock. Folks, he was just texting me. He's going to jump on with Tom at about 3 o'clock just for a quick final promo. But don't wait till the end of the day. If you're planning on signing up, as I mentioned, get in there. Sign up should be an interesting hour, and Teddy's excited for it. He's telling me. So he's texting. He'll jump on with Tom at 3 o'clock and then he'll be in there live from 4 till 5 p.m. Eastern time today talking candlesticks for equities and options. And keep China on your radar, man. Going to be an interesting one, as in we got a couple articles out there. It just doesn't stop in terms of how many articles I was finding this morning when you talk about China, right? So that's the one we talked about in terms of missing payments. But the Journal's got an article in the front page this morning that, yeah, it's tied to it, of course, but they're talking about the deepening housing problems, OK? Spooky investors, and that is talking about the property values and how that's tied to everything. And I wish I had more time to go over, folks, but you take a look at some of the numbers. That wasn't the one I was looking for. There it is. Country Garden, the biggest developer out there. Yeah, they're missing payments. They're down 70% so far. Just be careful. There's enough to say over in China. But be careful as that contagion could spread. You got Hang Seng down about 1.6%. But boy, the story could be the dollar so far today, right? Dollar, it's not stopping, man. Look at this bar we got. Speaking of candlesticks, right? Candlesticks speak volumes, man. You don't need to know everything, but boy, that is quite a candlestick we got coming into the highs of July 6th. We're about six weeks later, you got the dollar. Look at this on a five-minute basis. We're not stopping, man. Yeah, we just hit a high of 103.45 right now on the dollar. 7 a.m., we're at 102.80, and that, of course, correlating to yield as well as we got the 10-year as we wrap it up, pushing above 4.2% right now for 4.21% on the 10-year. Folks, thanks so much for starting your trading day off with me. Start the trading week off. You're at TFNN. Stay tuned. You got a man Basil Chapman coming up next. Steve Rhodes at 11. Bass Market at 12. Larry Pincimento, Live at 1. Tom O'Brien, Live at 3. Teddy Kekstapp, Live at 4. Have a great one, folks.