 This is a presentation of TFNN. The Tom O'Brien Show is produced every business day. Tom takes your phone calls toll-free at 1-877-927-6648 internationally at 727-873-7618. Let's go to Phil and Puerto Rico. Hey, Phil, what's going on? Hey, Tom, doing great. Just wanted to thank you guys and the whole crew. Best content on the internet. Really appreciate everything you guys are doing. We appreciate you growling and prowling with us out here. Phil, how did you find us? I just typed in live trading on YouTube one morning. Cool. I was looking for any type of live trading room you guys came up with. Awesome. I know quality when I see it, but at least I like to think so. I mean, you guys are just a dream. I appreciate everything you guys do. Welcome to the Target family. We appreciate you growling and prowling with us. My pleasure. Now, Tom O'Brien. Welcome, folks. This is Tom O'Brien at TFNN. We have five days a week. We go seven hours a day. We go 24 hours a day in the internet at TFNN.com. Always remember, folks, whatever you think about, you bring about whatever. You focus on growth. Hope everyone's having a great day. Safe day. Like a great weekend, folks. It's a TGIF. Create the perfect relationship between you and your body. Treat your body with love on a gratitude and respect. When you're making a goal to adore your body and accept yourself completely, you are learning to have the perfect relationship with anyone else you are with. Guys, let's take a look at it out here. We have the Dow Industries right now trading down $3.32. Nasdaq's off $3.11. S&P's down $6.67. Gold contract down $20.20. Traded $18.51 an ounce. We have Silver down $0.35. $21.92 an ounce. Platinum down $13 at $1,014 an ounce. Light sweet crude just keeps steaming higher, baby. Up $284. $119.71 a barrel. Notes and bonds. The 10-year note. Down nine ticks. Trading $1,188.30 a year. Off $16 at $138.07. And $Kingdala. $Kingdala's up $337 ticks. At $102.161. Euro $107. Yen $130.82 in the British pound. At $124.01 at U.S. dollar. Our phone number's 877-927-6648. It was called, folks. One note's going on in your world. In the world of the S&Ps, let's take a look at them. What do you have? Well, let's go look at the futures first and kind of figure out where we're going to go into this close. So we take a look at the futures out here. You had the... We've had a 90-point move here. This is pretty amazing, actually. Well, it's the market we're in. There's no doubt. We had a high out here of... Well, I guess, no, it's 80-point move. Right now, you're down 63. The bottom line is giving everything back from yesterday. And let's just see where we're at. Okay, so if we take a look at this... Well, it's not bad. You know, when it actually was... When it was going up a little bit earlier, that volume wasn't bad. Now the battle's going to be, let's see. So it's 309. Okay, so the battle... I love this. This hour's great, man. So the battle is right here. This is where the battle is... You know, you can see this little expansion in volume right there. We just did 22,000. You're going to start the next 10-minute bar, and you're going to start that bar going after the lows of today. And the lows of today, folks, had 23,000 contracts. That's light contract volume. You know, so they can very well get into that in about two seconds flat. Let's go take a look at the NQs. This is on the intraday basis now. The NQs are down 347 ticks. They pull this back. Okay, they just had an expansion of volume, too. They're going to go after these lows, man. Yeah, so we just did 9,000 contracts on the 10-minute. That low has 11,000 to 14,000. A couple bars there. This is going to go after these lows, man. And what's sticking out like a sore thumb is the low that was established out here yesterday morning. That's a high volume low at 8.20 in the morning. No, I guess it was 9.30. It was the opening bar. Now, that's on the daily. We take a look at this in the weekly. What you're going to see out here is this. This has been building cause for bottom line, lower price. We take a look at the weekly. I pull this weekly up. Put this on a couple of years. What you're going to see is that we had volume last week of 426 million in the spy. Right now, you have 314. But if you add that extra day, it's going to come in somewhere around 400 million. So you got over the high, which is 415, 38. You close underneath it. I suspect unless we have a super rally in the next 45, well, 45, yeah. 50 minutes. Bottom line, it's going to be a failure on price or failure on volume. What is that set up? That sets up going right after the lows once again, which is 380. Right now you're 410. NDX 100, same type of set up inside the NDX. Bottom line is that you got over the high. You are going to fail on price, fail on volume. We take this on and you're going to see last week what we had out here is 330 million shares. That's five. You've done 233 and that one there. Let me just figure this out quick way. Where are you? Okay, so let's see what we got. 233, whoops, 233 I said. Right, yeah. Okay. Yeah, it's going to be 291 approximately versus 330. So what you can also see here is this. So check this out. When you do the volume calc on that, what you have is that the aspect of it's showing that the cues are still much weaker than the spy. That's what it comes down to. Because when you do the calc and the spy, you come in about 5% light of volume and the cues, you come in a lot. It's 10, 15%. So it's a larger number. When we get closer to the close, I will do that. Let's go take a look at the platinum market. That's been on a nice little tear. We got a couple questions about, do you have a double top? And my take is that not even close. What you have out here is this. Okay, so watch. Platinum is down 13 bucks. You've gone straight up, well, last five days. We're from 924 to 1037. Your swing point out here is 1026. So now what you have, you'll build some more cars. I mean, this is a nice move. This is a nice move up there. You'll build some more cars. You know, what game out here is this 1190 right now. And if we go over to good old, well, let's go to Goldfrikes, then we'll do King Dollar. Well, we go take a look at Gold. Gold backing down out here today. And look at the contraction of Gold. Gold's on its way higher, folks, okay? Bottom line, what we did out here, and this is, when these happen, man, this is a gift from the trading gods. Because what you have out here, so yesterday we go higher with 127,000 car contracts. Well, we've done 106,000, okay? So the bottom line is that, you know, you're backing down, you know, didn't hold price, which is saying that, you know, you're gonna go out trying to test this, you can test even 1830 once again. But bottom line is that higher prices are coming at us. What you had out here, if you take a look at some of the Gold equities yesterday, I was looking at them today, rather, that, you know, went higher, what you have out here is that the bottom line is that these babies, let me see, is that September, okay? They're pulling back with life volume. We ought to take a look at the 10-year, bottom line, 10-year out here is going also after it's, you're at 118, 18, can't hold price. Bottom line is low is game once again. Stay right there folks, show them right back. Time of booming inflation, we are purchasing powers eroded, there's no better place to protect your harder and money-thinning gold. This is 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. This is a large-scale, low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction. This, the gold just completed the Monk Todd Feasibility Study, which resulted in a 7 million ounce gold reserve in a 16-year mine life. All of this combined with the approvals of all major operational, as well as environmental permits. This distinguishes Monk Todd as an attractive, diverse party, ready-development stage gold project. This, the gold trades on the New York Stock Exchange under the symbol VGZ. 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. 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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. All now, toll-free at 1-877-927-6648. And, internationally, at 727-873-7618. Back, folks, down. Dow Industries right now, down 392. You get the Nasdaq off 340. S&Ps are off 73. Let's go to our man, Phil in Puerto Rico. So, Phil, what's going on, brother? Same stuff. Living a dream. Same as you and yours, Tom. That's a beautiful thing. You know, it's so funny is that when you call and do it, I'm saying to myself, the program started off with you. We're all part of the Lucky You Know What Club, right? That's a beautiful thing, man. MRNS. MRNS. MRNS. Let's see what we got here. So, let's see. Okay. This is a pharmaceutical to manufacture medical products, a development commercialization of medical drugs for the treatment of neurological and psychiatric disorders, epilepsy, epilepsy, traumatic stress. Okay. So, let's take a look. Revenue. The low is 14. The high is 19. Okay. So, just getting off the ground here. They take in 14 million first quarter. They plan on only taking in 2 million this quarter. Okay. So, let's see what we got here. Okay. So, bring this back. Put this on a monthly. So, yeah, this is not a bad-looking chart, Phil. This is what, okay, so what happens with these, like, you know, we go back, folks, that 2015 the stock was at 82 bucks, okay? Bottom line lays out, goes all the way down to $3. We hit 419 last month, but it is getting a little poppy, I mean. Yeah. I mean, you could be in this for a little bit. Let me just see. Are they waiting for it? Let me just see something. Okay. Okay. So... They're going to launch one of their products next month, a drug for a rare... I forget if it was seizure or... I see. ...some rare disorder. So, it says here that they were granted additional time in the European review for their seizure candidate. You know, for trade, the bottom line is that, you know, it doesn't look that bad. That's the real bottom line. What happens is that when you get an equity that has got hurt this bad, what you want to see it do, which this hasn't done yet, Phil, right, is take out a swing point. You know, but on the daily basis, I mean, I know you're not, you know, you're not getting married to this thing. You're just getting in for, you know, whether it's a few days or whatever. I can see that. I can see that. I mean, because this should, you know, you see that big volume? This is when you get a huge volume, like when you go back to March and it couldn't take out that swing, that's a problem, because that means someone's just selling into it. That's when it started out at $8, went to $12.37 and then ended at $8.50 again. You know, but it doesn't mean that you can't go to the bottom of that, which is $8.50. Yeah. That sounds good, Tom. I appreciate it. Okay, man, you have a great one and a safe one. Hey, have a great weekend. Thank you. I'll see you guys next week. Thanks, man. Our phone number is 877-927-6648. Let's go take a look at, well, first. Okay, so CL-1, we're going to go look at this oil market. This oil market gets $150 in it, man. This is going to be like insane, where the pump prices, I just paid $5.25. You know, $5.52 yesterday at Speedway. Now, Speedway around here, you know, is, Thornton's is the least expensive, and Thornton's is running a lot like it just happened there was Speedway's in front of me when I stopped, but that's the most I've paid thus far. Let's pull this up, put this on a monthly. Okay. Oh, look at that. Oh, yeah, this is like a new brand, man. So, 147's game. Let me pull this back further. Come on, computer. Come on. Working out. Let's go. It's, I think the computer just took a weekend already. Oh, yeah, look at this. Okay, so, yeah, this, this, you know, where the 147 is game, that's the real bottom line. If it ever breaks 147, man, watch out, man. But that 147 is game. Let's go take a look at HG. Let's go take a look at the copper market out here. So copper right now, that's trading at 446. That's down eight and a half pennies today. I had a huge move yesterday. I had volume yesterday too, man. So copper is on its way to the highs again, which is 501 a pound. So let's go take a look at Freeport Mack Moran, FCX. And this is a nice setup, man. Freeport Mack runs an ABC up. Thanks, Ryan. This is going to be a good trade, man. Okay, so let's do the numbers here. 41, 33. So you got, let's say, eight bucks. That's 44. It's going to dig into these bars. That's an ABC up. 44 is game, man. That's on your daily. Put this on a weekly. Yeah, it's going to, it's going to come into some flak, but this is a good setup, man. This is definitely a good setup. Yeah, there's a lot there to be had. There's no two ways about it. Let's go and see. Oh, so Elon Musk out there, bottom line. You know, you get, he's going to basically dump, you know, 10% of his salary to workers. This is, you know, pulling down and, let's see if it has hit 501. Did it already hit 501? No, 620. So, I mean, this thing, your next leg here is 500. Break 500 and you're going to be at 193. That's how this thing is set up. You can see, I mean, it has a high volume low at the 620 area right now. And then, so Elon come out, and so the way he's a trip, man, let's see, let's see, what did he say? He'd only sell his jobs. I've got to find it. His quote was something like, it's going to be bad. Something's coming down the pike. Well, what's coming down the pike, folks, is higher interest rates. And the whole world, yeah, the world in general, has been used to very inexpensive interest rates for a huge amount of time. That's how it comes down to. Yeah, the big bars in, so when we just looked at Freeport McRan, the big bars in FCX, that's why it has to build cars in order to get through them. That's a supply line. And yeah, that will not happen overnight. That's the bottom line. That's how it's set up. Let's go to what Dan in Los Angeles. Hey, Dan, what's going on? Hi, Tom. A great friend of you. Just wanted to find out about how exactly this quantitative tightening effects to our 401k account, our investment, and what exactly do you suggest for a long-time holder? This is a great question. What happens, there's a couple things, for a 401k, now, this is a cool thing about a 401k, folks, okay, that the bottom line is that you can sell into the market on a 401k and not pay taxes. Yeah, stay right there. We're going to be coming right back. Dow Industries right now, down 368, and Azix off 325, S&P zero off 70. We're going to be talking about our man, Dan from LA. We're going to be talking about the market, we're going to be talking about a 401k, and we're going to be talking about, you know, when you sell, not paying taxes because you're in a 401k, so it's a whole different ballgame as to how you can actually protect yourself. Stay right there, folks, you're coming right back. I'm gonna publish the Gold Report with coverage of gold, silver, bonds, DXAU, HUI, GDX, as well as more than 30 different mining equities. To seep yourself, the types of profitable trades that are recommended within the Gold Report, sign up now by visiting TFNN.com. Don't miss out on the next great gold trade. Sign up today. programing hosted by a variety of professional traders during market hours. And now they are expanding their reach with the Tigers Den available to all Tigers and Tigresses for just $1 for the year. There's no cash or added costs when you join our community of traders. In the Tigers Den, 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 to 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 Tigers Den 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. Tom O'Brien has just announced a live timing the trade webinar Friday, June 10th, from 9 a.m. until 2 p.m. Eastern time. Join Tom O'Brien for five hours of live education as he teaches you his trading methodology right from his bestselling book, The Art of Timing the Trade, Your Ultimate Trading Mastery System. In this live webinar, Tom O'Brien will be teaching you his entire trading system, including quality volume, ABC structures, Fibonacci Confluence Zones, Cause and Effect, Swing Points, and more. We will be limiting this class to 40 attendees, so please do not delay and reserve your seat today for this special live event with Tom O'Brien. All attendees will also receive a physical copy of his book, The Art of Timing the Trade, an $88 value, mail to you, along with a free month of his daily newsletter, Market Insights, a $169 value. For all the details and to reserve your seat today, visit the front page of TFNN.com. 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, Dow. Dow Industries right now down 327. You get the NASDAQ off 309, S&Ps are off 64. We're talking with Dan from LA, and we're talking about the market and 401k. So Dan, first, let's talk the market for a second. So the market, you know, like, say you get Elon Musk saying, okay, it's a super bad feeling, right? About the market, you got Jamie Dimon saying, okay, there might be a hurricane coming. That being said, I don't see this like a 2007, 2008. Okay, you know, we'll see when these rates keep going up about who doesn't have a bait and suit on his naked, you know, and has overleveraged themselves. But I don't see it as a 2008. Now that being said, market-wise out here, I think we're going lower, you know? And the aspect is to crush inflation, they have to keep going up on rates. And every time they go up on rates, you're going to see this market go lower. You know, because the bottom line is that these large companies, the reason that large companies, you know, you see them make so much money is that they take so much risk in the aspect of how much they're actually leveraging themselves, right? So let's take a look at the S&P, because now let's get into the, yeah, you asked a question about your 401K, right? And this is, this is what the way that I look at, you know, the cool thing, this is different, folks, if you have, you know, an investment account and it's in a taxable account versus a 401K. The difference in a 401K is that guess what? You can sell, you've made money, you're not going to pay tax on the money, okay? So the way I look at this is that right now the S&P is at 4,100, okay? The all-time high is out here at 4,800, right? So depending on how you feel about the market, let's just, let's just do a number. Let's just say there's 100,000 in your 401K. And you know, at the highs, okay, the bottom line was 120,000. That being said though, the bottom line is that we are still at an area and you know, my son Tommy had brought this up a couple of times on the show and this is really important to understand. We're in an area from April of 2021. So I would ask myself this, and I did this in a big way, not only just in investment in general, okay? I sold it to this in a monster way, real estate-wise, okay? And this is where I go with it, is that if the market goes down 20%, how's that going to affect you? And if the other side of that is that if I'm totally wrong and then the market goes up 20%, how does that affect you? So the real case there is that you could get in cash and say, okay, if the market goes up 20%, I don't get the 20%. But if you get in cash and the market goes down 20%, it's like, okay, you know, I'm pretty good. So that is kind of what you have to ask yourself, Dan, do you know what I'm saying? Yeah, got it. So do you suggest like if at all if it goes down, like maybe regularly when you're adding to a monthly, you want into cash for now, then add it back when it goes down? Oh, I would definitely keep adding. I mean, you put as much money in, I would still put the amount of money that you can put in, I just wouldn't put it into the market, but put it into your account because you only put so much here and then it's just in cash, you see what I'm saying? So it's really one of those deals that, you know, and I've found this is a really cool way of investing in general folks, okay? Because what happens is this, like, so picture, Tampa right now is the number one real estate in the country. My take on this is that I've been selling into it in a monster way, okay? And I'm happy where I'm at. I don't even care if it goes up another 20%, okay? So I still have prime pieces, but I don't care, I sold a lot, okay? I really would care when I look at the portfolio, if it went down 20%, I wouldn't dig that, man, because it's like, you know, what happens in the market, whether it's the stock market or real estate market, right? Normally it goes small, small, small and then accelerated dramatically. Now the exact same thing happened in the S&Ps as in the real estate market. You don't get those moves, man. I've been doing this long enough. You just don't get those moves. So it's like, oh, man, I'm going as much cash as I can have and then wait out a year, you know? So. Yeah, some of the reason I'm asking is like, have been through like 2008 crash at that time, like, hold for opening a account like totally 40, 50% down or whatever I made. And then I didn't want to happen again if Elon Musk, like, folks are betting and then a whole market of people are saying that Hurricane is coming, like you are saying. Just wanted to see like maybe going to say more, maybe 50% because that party 60 bond also, it was not working. So bonds also went down. So it was like a trivial way, like way to hide in it. That's right. And I'm so glad, Dan, you just brought this up. So what he just brought up folks is that this is the mantra for financial advisors in the Wall Street in general, okay? That, you know, 40% bond, 60% stock, okay? I can tell you, I've been doing this now since like in 1981. I've never seen that work, ever, okay? This is just like a deal that evidently they came up with at some particular point, okay? You know, to me, every time that I've seen a hit, everything gets hit, you know? So I mean, I would just look at it and, you know, just look at that S&P and say, hey, you know, I mean, you know, if the S&P, you're at 40, 40, 100, if the S&P goes down to 3300, what do you think about that? You know, because that's game. And the reason I'm saying that's game is that there's plenty of equities, including J.P. Morgan that has already done that. You know, so to me, when I look at like a J.P. Morgan and say, okay, man, you already have been digging into, you know, this much low, that's serious business, man. So, you know, and this has to do with, you know, that whole fear of missing out. If you're happy, I just go over the whole deal again. If you're happy with where you are right now, no, let's say that you, we all are, you know, I always say that saying, yes, there's gone, tomorrow is not here, what are you doing right now? Well, picture, right now, whatever you have in your 401k you have. If it goes up 20%, of course, you'll be happy. But if it goes down 20%, what are you gonna do? If you can, if you feel that you're okay with that, then you can stay where you're at. But, you know, when we're 401k, you don't have a tax consequence. All that's gonna mean is you're getting cash, you have a cash position, and if it does get out of 20%, well, good. Then when you feel comfortable to get back in the market, you get back in the market, man, you know. God, thank you very much, Tom, for taking your position. Have a great one, man, have a safe one. You too. And there is a huge difference. So now let's talk about the aspect and this is where it's more dangerous, for sure. Because when, if you have your equities in a taxable account, folks, okay, that's something that, that's a whole different ball game because the bottom line, depending what kind of tax structure you're in, right? If you're gonna pay 34 cents in the dollar on a equity, I would not be selling. That's the bottom line, it's not even close. Because the, one of the reasons that Buffett has got so rich, okay, is that he knows that you buy something. This is what all of us should be doing, by the way, okay? If you have stocks in taxable accounts, the bottom line should just be trying to buy the best stocks you have and just run it out. I tell people when they're starting, okay, and this, you should give this device to everyone. You're starting out just by the spy and forget it. You're 20 years old, you're 30 years old, buy the spy, forget it, see a later, go have a life, come back in 30 or 40 years and take a look at it, because guess what? If that's not up dramatically in 30 or 40 years, it's not gonna matter. The rest of it's gonna be close too. Stay right there, folks, come right back. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa, and Clearwater markets? Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area. Whether you're looking to sell your current property for maximum value, or you're in the market for a second home or investment property, Tiger Realty has the experience across all areas of real estate in the Tampa Bay Area to help buyers and sellers make the most informed decisions across all price levels. From the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating, Tiger Real Estate can help you make the best decision when it comes to all areas of the market. 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The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, four-side fund services, LLC. This program is brought to you by Vistagold, traded on the NYSE American and TSX under the symbol VGZ. Welcome back, folks, to Dow. Dow Industrial is right now at down to 336. You get the NASDAQ off 304. S&Ps are down at 65. Let's go inside the Dow. And well, first off, let me look at this Dow. Okay, so let's see what we did. Okay, same deal. So the Dow is gonna have the same deal, meaning you got over the high, yep, just over, they just made it too. So the Dow got to 33272. Yep, they got over, it's gonna close underneath it. Okay, so inside the Dow Industrial, let's see what's moving this Dow out here today. So you have putting juice into it is Caterpillar plus 15, Chevron plus 11, IBM 4. Taking away from it UnitedHealth minus 40, Apple minus 38, Goldman minus 34. So we go take a look at, let's go to Apple first. Okay, so Apple's pulling back. Already has an expansion of volume from yesterday. We're 72 yesterday, we're already at 73. We take this, put this on a weekly. Same setup, man, yeah, these are all, and if Apple's in AB, oh man, yeah, if folks, you just gotta be careful out here, man. That's the bottom line. I mean, you know, I suspect, this is where I think this is gonna shake out, that they're gonna go up, let's see, we are at, here's the Fed. Okay, so the calendar, let's take a look at this. Okay, so we have a meeting on the 15th. So that's gonna be the 15th at two o'clock. We're at the third now, right? Yeah. So they go up another half a point there, and I think that's gonna put more heat on it. And so what also happens on the 15th is this, check this out. They're rolling off the balance sheet, right? So the first roll off is actually the 15th. And what that means specifically is this, is that the bonds that they have have expired, okay? So they'll get the interest on it, that's expired, but they're not gonna buy another 15 billion. That's the first roll off, okay? So simultaneously, they go up another half point, they start rolling down. My take is that they're gonna probably blow it, and not go up in July, because the market will be so heavy against them. Then what you'll have is this, is that the numbers on inflation won't stop. So if that's what we get, they are gonna go up another half a point. Even like ASAP, they have to go up another half a point, because the bottom line is that, they're saying that yeah, inflation eight percent, nine percent, whatever that is. You start running these same type of numbers, and people start losing their jobs. That's stagflation folks, that's how that works, okay? That the numbers are already baked into the system, and I heard a deal that they were claiming that it wasn't baked into the payrolls. It's baked into the payrolls in a monster way, man. I mean, they're not running any companies. It's baked into the payrolls in a monster way. So I suspect what we're gonna see, now this morning with your hat out here, is that it was a decent jobs number. That decent jobs number, when you dig into that jobs number though, and this is what I think you're gonna have, which is unfortunate, yeah, you're gonna have travel come back, okay, that's a huge part of the business. That's what those numbers to there, travel was huge, they're coming back, but guess what you're gonna have? Then you're gonna have higher paying jobs though, that are gonna get toasted. And I think, you know, my take is that, inside the real estate business, it's gonna be a problem. And so here, let me tell you this story. Oh, so this is a trip, right? So right now, I'm building four houses. All right, three of them are already sold, I'll sell the other one, all right? And so I've been dealing with the same guy with pools for a long time, okay? Bottom line, he went up on the pools, and you can tell, I've been doing this long enough. I brought this up before. These houses are going up so quick, I've said to my subs, I said, hey man, are you slowing down? They're definitely, and of course, they all say, no, no, no, no, we're not slowing down. Do you know what I mean? It's like, they're slowing down, because what ends up happening, you send us in, two problems are sending five, okay? So check this out. So the guy that I have with the pools, you know, no, not five of glass pools, Jesus damn, God. Anyway, okay, we know, we do cement pools with Pebble Tech, five of glass pools, man. You must have been in Boston too long, I guess, I don't know. Anyway, so the bottom line is that, let's see, I've been dealing with him seven or eight years now, right? So at the beginning of it, because the beginning, they didn't have a lot of, well, they had a lot of business, okay? But the bottom line is that, you get return phone calls and all that. Then like the last two or three years, they're so, they don't need anyone because they're so busy, bottom line, then what ends up happening, you don't get no calls back, I have to basically get out of my office, drive down to the office, flat out and be in front of them. So what ends up happening? Two days ago, I call up, just what? We got a return phone call immediately. Oh, I'm calling you back, Tom, because you called me. It's like, oh yeah, really? Those are the things, folks, that you want to pick up on. Because what happens is that, yeah, he don't get a lot of orders for four pools at a time, okay? My point in all of this is that when I look, and I'm coming into work, when you look at the amount of people that are actually subs, and I look at the amount of people, but with the amount of checks I write out, it can keep a huge amount of people employed. And when you pull back, well, what ends up happening? Well, what ends up happening is, you know, less subs are gonna be healthy. Now, we've been lucky enough, you know what I mean, that I'm still building enough for the next year. But you get the gist of it. The gist of it is that, if people, the gist of my take, the gist of it will take a hit, the hits are already starting, and you know, the bottom line is that a lot of people are gonna get hurt. That's, when I cut to the chase, that's kind of how this whole thing shakes out. Yeah, I want to show you this too. Yesterday, this was cool, because what you had yesterday, you can see, you know, you had that huge, you know, day up, look at this volume here. Contraction of volume, big time. 946 million, it couldn't be, the NYSE couldn't even do a billion shares. We go into the composite, the NASDAQ composite, bottom line, 4.4 billion shares, okay? Forget it, man. Those numbers should be so much higher, particularly when you go up like we did go up. This has been like a classic for a Memorial Day weekend, coming back for a Memorial Day weekend. You know, we'll see where this whole thing shakes out, but my take is that this is gonna be very tough from now, and you know, hopefully, you know, September or October, you know, we come into a lull. It could be a razor blade cut all summer long though, folks. You know, when markets like to go down, that's kind of how they shake out. You know, you get down a couple legs, you can do a couple of great legs on the way back and then see you don't want to be. And the acceleration, you know, and the next leg is just as fast as the first leg. Down industrial's right now, down 390, NASDAQ's off 324, S&P's off 71. Stay right there, folks. Come right back. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. 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You get the Nasdaq off 307. S&Ps are off 67. And so let's take a look at what you got here. So that's a downdraft of, no, wrong one. There we go. Okay, so inside of the Nasdaq is 1.5 in the S&Ps and one in the Dow. Let's go take a look at the composite. So the composite out here right now, yeah, it's in the middle of the range from yesterday, but the weekly's the same deal. The weekly's gonna get over the high. The high of last week was 12,131. So bottom line is that that's gonna go after the lows. And what you'll see, I mean, if this is ever, let's see, 16,500, God, 5,000. Well, that'll be an 8,000 A to B. Let me just go look at this for a second. 8,000, 9,800's there. Yeah, we'll see where this baby shakes out. That's the bottom line. The way that you gotta look at this is that, we've talked about this many times, okay? That when interest rates are low, all of us, if you go back to the aspect of how the economy works, I get money, I give it to you. You give it to someone else, you give it to someone else. It's the velocity of that how it goes, right? When interest rates are higher, every one of us signatures are worth less money. So that means there's less money to go around. When there's less money to go around, unfortunately, what ends up happening is that there's people that, as I say, don't have a bathing suit on. They're toast, and what ends up happening then is that all of us get things at less expensive prices. And that just brings the economy down, until it doesn't. But once it starts, it starts. It doesn't turn like in a second, man. Always remember, folks, the bank and claw your head out the book and run you over, and thank God, there's always another trade. Health happens in prosperity. Have a great weekend, folks. Have a safe weekend. Come back and visit Tommy Monday morning, kicks us off, great show, folks. Yeah, we'll get him, folks. Building wealth trading in the stock market seems impossible to mo-