 of T-F-N-N. 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 for the best content on the internet. Really appreciate everything you guys are doing. We appreciate you growling a problem with us out here. Phil, how did you find us? I just typed in live training in YouTube one morning. Cool. I was looking for any type of live training room you guys come up and look. Awesome. I know the quality when I see it, or at least I like to think so. And I mean, you guys are just a dream. I appreciate everything you guys do. Welcome to the Tiger film. We appreciate you growling a problem with us. My pleasure. Now, Tom O'Brien. Welcome, folks. This is Jacob. So you're filling in for Tom O'Brien. Let's take a look at what we got going on today. I hope you guys have had a good week. We've been pretty busy here at TFNN and some other companies we have. It's been nice, but I'm glad to kind of take the end of the day out here and be with you guys. So let's take a look at what we got going on. We're finally up over that 4,800 level again, at least in the ES mini. We were talking a little bit, maybe last week about how there might be a consolidation kind of forming here. Obviously a lot of pricing had kind of come about with talks of lowering interest rates. We might see a higher CPI this month. Of course, inflation is not linear, so that might be expected. But it just kind of brings up the question of how long does this get pushed out? And by this, I mean rate decreases. Yeah, the European Central Bank come out earlier as well and said that they don't necessarily see rate cuts this year. Now, different animals, right? US versus Europe, but you know, you can kind of get indications of what the general economic health of the world is kind of looking at what these other central banks are talking about. So trading right now in the ES mini, at least at 48.04, let's take a look at the Russell down at 19.31, 60 cents, up about 0.34% today. The NQ's trading about 1.37%. YM, it's the Dow futures up about 0.4%. The gold contract, about 0.82%. We're trading at 2,022 currently and there's silver as well, trading up almost a full percent. We're trading at 2,287 in silver. Of course, we've had quite the come down since about the beginning of December last year. Copper is up, but we're still on that downward swing. Again, trading about $3.75. Of course, I would love to see it go a little bit back closer to $4. The crude oil futures trading at 73.89, up almost 2%. We'll talk a little bit about that. We have a lot of things going on. Of course, the cold puts higher demand on energy prices. You're seeing an increase at the gas, excuse me, at the pump regarding gas prices. Some of the oil pipelines in South Dakota, it's so cold that they're shutting down and actually starting to spill oil. However, America is, we're really producing oil again, really producing energy, natural gas. We saw that a lot, maybe around 2017, 2019. We had just, I think, the largest output and by quite a large lead as well. That came down a little bit. Of course, there were some discussions, I would say, maybe a few years ago. Some of the oil rigs were being shut down, not as many permits were getting out, but the oil rigs that are up currently are producing at a much higher rate, which is a positive. But as it stands now with all the weather going on and issues with the blockade in the Red Sea, Libya still persists, and then some kind of weird political posturing, namely from Saudi Arabia, and then of course the embargo on Russian oil, we're gonna kind of see this move up a little bit through this season. The bonds are down, means the rates are going higher. These guys are getting pretty hit currently. Take a look at Tesla. These guys continue a downward trajectory. You had them trading about maybe 265 and we're heading now right to about 211. Kept seeing day after day down 3%, down 2%, down 5%. There's some issues that Elon Musk has also brought up. He wants to expand Tesla kind of construction away from cars. He's still gonna focus on cars, but he wants to go more into AI and robotics and we'll talk a little bit about that. He wants more shares in the company to have kind of higher voting power. And it kind of remains to be seen if that's gonna really take off for him. Steel Dynamics, we are trading at 112.71. The dollar still strong at 103.51. And this isn't even like a consolidation kind of move. I mean, this is an upward movement in the dollar. Of course, looking at this, initially you could have seen a counter trend bounce, but it really has this staying power now that we see kind of this jump from this 102.50 level all the way up to 103.51. Again, this, I think adds to the theory that we might be seeing basically a consolidation in the S&P 500. We're gonna have Tim Ord on a little bit later and he's gonna give us his fantastic analysis of what's going on in the market as well on top of, I believe, gold. And we'll see what else he has in store for us. Google at 145.29, Meta 375.62, Disney back up 2% today, 92.17. Apple, they got a better rating for Bank of America earlier today. And this really shot up the price of the equity. We're trading about 347 currently. That's a nice little gap up. Of course, not on any significant volume, but it's a better position to have at least optics-wise that you got a bi-signal at least from Bank of America. Lucid, just down more again today, 5.22%. Take a look here, the banks kind of had a little sell-off. I wanted to look a little bit, we only have two minutes left in this segment, but this is gonna be in Vesco. These are essentially Bitcoin ETFs, right? So we finally got them on Thinkorswim. I'll take some more, look into that plug. They were doing the hydrogen cells, did not work. Their quarterly earnings were less than stellar, or anticipated to be, excuse me. And we're trading down about 1207 and then Humera actually down about 8.33%. And we can talk a little bit about that. Excuse me, Humana. Humana reported the preliminary 2023 fourth quarter numbers, 91.4% medical loss ratio, compared to an 89.5% expected. That's ahead of its fourth quarter earnings on Jan 25th. Medical loss ratio is the deltons. It's the change of medical premiums and insurer collects and the amount paid out its claims. The Affordable Care Act mandates that companies have an MLR of at least 80 to 85% each year. The report from Humana is pressuring its stock and other Medicare Advantage insurers, including CVS and United Healthcare, which have yet to report earnings. The healthcare sector specialist said in a note on Thursday that Humana's numbers are extending a post pandemic trend that many expected would have waned by now. This is the most significant negative variance we can recall and speaks to the still higher than usual healthcare utilization environment, particularly among the older populations. And we're seeing this come out to a lot more, excuse me, illnesses with younger people. Talk about maybe at the end of the show if I have time that the increase in cancer rates among younger people has gone up exponentially, which I think is at least something worth kind of talking about and kind of some certain ways, at least using AI and this might be detectable. Maybe we can bring down some costs with that. So stay tuned right there. We have some more coming for you. I think we have Tim Orton on about 320 and we'll go from there. Stay tuned. Currencies, commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger Forex report. Teddy Kegstad breaks down the Forex markets every Monday using his 30 plus years of experience as a trading veteran of futures, Forex, stocks and options. Teddy releases his weekly Tiger Forex report every Monday morning with coverage of all the major currency pairs, including the dollar index, the euro dollar, pound dollar, dollar Swiss, dollar yen, as well as many more. And he also has weekly coverage of the crude oil market and the 30 year T bonds as they both influence Forex markets tremendously. When you sign up for the Tiger Forex report, you also gain instant access to Teddy's 60 minute webinar archive. He just hosted Forex strategies and fundamentals, what is behind the Tiger Forex report. For all the details and to start your 30 day Tiger Forex report subscription today, visit the front page of TFNN.com, TFNN educating investors. Are you ready to take your trading to the next level? Introducing Tom O'Brien's award-winning newsletter, Market Insights, your key to successful active trading. Tom O'Brien, renowned for his expertise in the financial markets, has designed Market Insights to be your daily guide to profitable trades. Tom publishes his daily Market Insights newsletter every market day before the market open, along with updates when warranted. Stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to your inbox. Whether you're a seasoned trader or just starting out, Market Insights provides the edge you need to navigate the markets with confidence. Ready to join the ranks of successful traders? Head over to TFNN.com and subscribe to Market Insights today. Don't miss out on this opportunity to supercharge your trading results. Market Insights comes with a 30 day money back guarantee for all new subscribers so you have nothing to risk. Don't miss out on this opportunity to revolutionize your trading game. Head over to TFNN.com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter Market Insights firsthand. TFNN, educating investors. TFNN has just launched their new trading room, the Tiger's Den, hosted at Discord. TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours and now they are expanding their reach with the Tiger's Den, available to all Tigers and Tigresses for just $1 for the year. There's no cash or added costs when you join our community of traders. In the Tiger's 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, 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 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. Call now, toll free at 1-877-927-6648. Internationally at 727-873-7618. Welcome back, folks. This is Jacob Schup filling in for Tom O'Brien. Take a look right now at Plug Power. They create hydrogen fuel cells and they are down about 12.31% today and let's take a look at that, okay? One, they had very bad financials in the recent past. Okay, we take a little bit, look at that. Plug's power revenue was growing steadily quarter after quarter until things soured up. In its last quarter, Plug Power reported only a 5% year over year growth and revenue. And then a gross margin of negative 69%. Now, they're having some issues growing forward and so what they decided to do was basically announce that they were gonna sell shares of the company worth one billion over the next 18 months. This is really partly what catalyzed this kind of fall down for Plug. And it is sad to see when, you know, there is I think a sentiment of people happy when they see some companies that kind of push the line a little bit, kind of fail. They don't think people like change as much. But it is sad to see when someone's trying to, you know, push society forward with something like hydrogen fuel cells that are really just failing at this kind of business and they're not becoming profitable. We actually have Tim Ord on the line. Tim, are you there? I am. How are you doing? Thanks for having me on. You doing all right? Hello? Yep, Tim, can you hear me? Yep, yep, okay, I can hear you. Perfect. How are you doing? Good, good deal. Well, what are we looking at today, Tim? All right, I got, I sent you over some charts. Yes. I hope you got them. We have them up right now. Okay, Ciclope, chart one. Yeah, the put call ratio we have for chart one. Yeah, anyhow, this chart is the equity put call ratio reading, which is the middle window. And it goes back to 2004 or something or five, whatever. And I want to point out that when that ratio, on January 10th, 2024, which is what a week ago thereabouts, that closed at 1.55. And I marked the other times kind of with blue dotted lines when that happened. And every time it did happen, it came at a low. And that gets you in the vicinity of low. It doesn't exactly pinpoint the exact low, but does say you're going into an immediate term low because that ratio of that high on a one-day basis is pretty well, it's extremely rare. It happened five times over the last 20 years, but every time it does happen, it was an important immediate term low. And the bottom window is the five-day average of the equity put call ratio reading above 0.8, is bullish for 0.94. And the next second window up from the bottom is the 10-day average. And then above 0.8 is bullish or at 0.8. So semi-wise, we're looking at an important low forming this vicinity. So you look at the bigger picture, you want basically everybody to be on the other side of the bench, which basically according to put call ratio readings, we're on the very side. So they're leaning on the put side right now. So let's flip to chart two. So we're working from long-term back down to the short-term. So the sentiment, the public is bearish, which is bullish. So the bigger picture on sentiment is bullish because everybody's bearish here. And this chart is a weekly SPX VIX ratio, which is the second window up from the bottom. And I think I want to point out on this is when the S&Ps are making higher highs, and the SPX VIX ratio is making lower highs, that's a bearish set up. And a lot of times, since it's on the weekly time frame, it projects an intermediate term bearish signal. And the last time we got a signal bearishly was basically back at the 2022 high. The SPs were making higher highs. This ratio is making lower highs. And that predicted a pullback in 2022. And in 2023, the market was kind of going sideways into the April-May period. And this ratio is making higher highs. That was a bullish configuration. Suggests the market was going to break higher, and it did. And currently, the S&Ps did break above the previous high of... This was probably November or something. No, it was November, it looks like about September. Anyway, it broke above the September high. The ratio, as the market went up and made higher highs, this ratio made also higher highs. So intermediate term, that was bullish, kind of saying that far as the VIX is concerned, the market in general should make higher highs going forward. So anyhow, that's a bullish intermediate term sign. So, we're kind of going faster, but we're going back down to the shorter term. But we have to look at the bigger time frame to actually see where we are. Are we in a bullish configuration for our sentiment? As far as advanced decline and all this other stuff, you have to look at the bigger picture. Well, I keep showing this chart, and this chart top window is the NYSE Summation Index. And the chart goes back to 2007. And I want to point out here, going into the, I guess it was September low, or actually the October low, you need a selling climax in the Summation Index for actually a bullish picture to develop. You need a selling climax. Then within two months, you need a buying climax. And that predicts any midterm bullish sign. So for over the next, most likely a year, maybe even longer, the market's set up for a bullish situation. Well, October 27th, 2023, we hit minus 813. So that's the selling climax, a reading below 700. Then within two months, you need a rally above 1,000, which is December 27th. And on December 27th, we did close above 1,000. So even though there can be short-term pullbacks, your midterm is bullish. Still on to that, right, right, right. So anyhow, the sum is bullish, everything I'm looking at is bullish for 2024. Not saying every day is going to be an update, but let's look at what the short-term picture says here. This is on the chart four here. Yeah, it'd be chart four, probably going kind of fast, hoping not losing everybody. But I do a lot with panic. Panic only forms at bottoms. And the more panic you have, the more stronger that next rally will be. So in the I define panic, as a trend closed above 1.2, so the longer it stays above 1.2, duration and time, the stronger that next rally is coming. So on this chart, I got the two-day average, which is on the bottom window. The middle window is a 21-day average. So that's the kind of a near-minute term signal. And the top window is the 10-day average. And so what you like to see, preferably, you know, I had another five-day in here, but I didn't put it on this chart. But all these, the two-day, the 10-day, and the 21-day average of the trend, all reach bullish levels in other words. So there was a lot of massive selling on the pullback. Here's the music. Yeah, Tim. So I can hold. Yeah, Tim, stay with us. I wanna hear some more of your thoughts on the market as well as we're, you know, kind of seeing this sideways shuffle pattern currently. I only hear in this kind of bullish sentiment. Folks, stay tuned. We'll be right back with Tim Orton. 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. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. First-time subscribers also get a 30-day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up, tfnn.com. Educating investors. Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing at number two for the year, an amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. 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 for 30 days risk-free today, tfnn, educating investors. 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. At tfnn, you'll get advice and guidance from the authority and technical market analysis and it's not just dry, tedious text either. tfnn airs live financial content streamed live on tfnn.com and tfnn's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern. For free, each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at tfnn.com or on tfnn's YouTube channel and become the investor you were born to be, tfnn, educating investors. Don't forget, you can listen to tfnn live on your mobile device 24 hours per day. Go to tfnn.com and hit watch Tiger TV. That's tfnn.com and hit watch Tiger TV. Welcome back, folks. This is Jacob Shuefilling in for Tom O'Brien. We are joined currently with Tim Ord of the Ord Oracle. Tim, you were just talking about a lot of bullish signs for the market as a whole. Right, I am. And so on chart four, going back to that, the trend is advancing issues. The definition of the trend is advancing issues over declining issues and divide that by advancing volume over declining volume. So if we do all the numbers, this shows when the volume's hitting the downstocks, the trend goes up. So you think that would be bearish, but it's actually bullish. So the more, the more volume is onto the downstocks to hire that trend goes and actually the more bullish it becomes. So if you get a lot of days of that, you show kind of a sold out market. So, so anyhow, all the time frames are bullish here and you can have some. This is not an indicator that picked exact day of the low, but it gets you definitely in the vicinity of the low. So this trend actually bullish a couple of days. I mean, all three of them, all three time frames turn bullish over the last couple of days, but really turn bullish yesterday and probably yesterday, I think, is probably a bottom of some sort. And the reason why wouldn't go to chart five. Okay, let's take a look. Awesome, we have chart five up. Okay, the bottom window is the 10 day trend that closed at 1.35, anything above 1.2 is bullish. And I pointed out in my market letter that probably last Thursday's low was gonna be tested. And if it's test on lighter volume and closes above the previous low, it's a bullish sign. And exactly that's exactly what happened yesterday. And I always like to have at least two, if not three or four things turn bullish with me. I just don't take one indicator. Excuse me, I got to take a drink from my throat. Oh, absolutely. Parks. So, but anyhow, yesterday we tested last Thursday's low on 10% lighter volume and actually closed above the previous low by two cents. You know, but still above the previous low. So that was bullish. And we also had a two day trend yesterday of 3.52. And normally that's right on the outskirts of some work, some don't type indicators. Anything around four and preferably higher is a slam dunk, you buy it on the close. 3.52 is just basically on the margin. And I looked at that and I'm thinking, kind of that's really close. And the volume studies were bullish. Nothing, well, I'll just wait one more day to see what happens. Turns out that yesterday's was probably an important low. To really confirm that the low was yesterday is for today's volume to be higher than yesterday's volume. And today's not over yet, but we're almost matching yesterday's volume. So we got, you know, about a half hour to go here. So most likely, well, there's probably a 90% chance today's volume will be higher than yesterday's volume. That's what you want to feel a little bump in energy to the upside compared to the previous day. So most likely there was a low yesterday and I sent out AXIA email to my clients here about 15, 20 minutes ago. I don't remember how long we go, but and I'm buying on the close today because the bottom was probably yesterday. How long the rally will last is hard to say, but this market's gone sideways since basically mid-December. And so that's about two, well, so the sideways consolidation lasts about a month. So at a minimum, if sideways consolidation is a month, the rally should last around a month. If the consolidation was two months then the rally should in general last two months. So we probably at least rally into some time in, you know, February, maybe longer, I don't know. But in general, this year is going to be up. So how high is high? I think it's going to be at least a double digit year at 10%, you know, it could be another 20% like we had last year or actually had 23% last year, you know, it could approach that. So this year, probably pretty good year. And also this is pre-election year. So you're not going to say a bear market not for election year. You know, especially, you know, the newcomer wants to keep the market looking bullish. So definitely, and I think a lot of the, like the things that could be like a bearish factor for the market are more relatively short term, you know? I mean, I bring up a lot even when I fill in, you know, issues obviously we have with some world trade, right? Issues with the Panama Canal, the Red Sea, kind of those things, but I do genuinely think those are kind of more short term, any kind of depressor on the market. And I like this idea of a bearish, or excuse me, a bullish one going ahead here, so. Yeah, well the market, you know, a lot of people look at the fundamentals and they interpret the fundamentals when visual does and visual investor does. Well, the market does an interpretation for you. I mean, it gives you the signals what that means if it's bearish or bullish. So whatever's going on in the world right now, you can look at all the natives and all the, you know, the inflation, the wars and whatever. The market uses it, yeah, this year, the market is interpreting that at least over the next, what, you know, 12 months or so, is going to be a bullish outcome. So. Right, exactly. The best interpretation is for the market to tell you what it's going to do. And there's certain signs to look for in the market. And I think those signs I've displayed on this, you know, very valid point. Yeah, very valid point. So. All right, well then we have, I think now we have chart six. We have about, we still have some time. We have chart six up on the screen right now. All right, chart six. This is a, the middle window is the discount premium for the Sprout Gold Trust. So that middle window with the red line in there is when that is minus the discount or premium is below minus 2%. And what Andrew drew lines, blue lines all across when that discount hit below minus 2%. Matter of fact, I showed this on Tuesday also, even though the market has backed off some, the 2% discount or minus 2% discount and greater is still prevalent here. So it can go down a little bit, but in general you're still looking at some sort of a low in this vicinity. When you get above 2% and the market starts going down, that's when the market actually can go quite a ways, but it can be off a week or so, but long as that 2% is still relevant. In other words, if the market was going down and the discount wasn't going below 2% would be a bearish sign. I see. It has gone down blue 2% and actually if they blow minus 2% this January 5th, I think it was the first time it got below there. You're looking at a bobbing process. You had a little minor rally and it came back down and the yesterday's close came in at 2.26. So what's that mean for GDX? Make a quick note here. There's a gap on, this is chart number seven. There's a gap on November 14th of last year at 2723. And for some reason GDX likes to go to gaps. And so we're just a whisker away from testing that gap. Hey Tim, probably gonna touch that gap. Can you stay with us into the next segment? Go over GDX a little bit more. Awesome, fantastic. Folks, stay tuned and we'll be right back with Tim Ord of the Ord of Oracle. 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. Biotech is booming, but for how long? Whether you think the Biotech bull has room to run or has run its course, trade LABU or LABD. Directions daily S&P Biotech three times bull and bear ETFs. Visit directioninvestments.com slash biotech 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 foresight fund services, LLC. The reality is that navigating financial markets can be risky. Markets can be chaotic and difficult to understand. Having the latest market advice can help you turn this chaos into a key for creating winning trades. At TFNN, we understand that it can be hard to find reliable market news. That's why each of our market experts offers their very own market newsletter. They must have tool for every trader out there striving to find an edge in today's markets. TFNN Newsletters cover every aspect of the markets so you can analyze the market before you trade. Try any of our great newsletters risk-free with our 30-day money-back guarantee. Just visit the Newsletters tab on the front page of TFNN.com. TFNN Educating Investors TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours, the Tiger's Den. Available to all tigers and tigeresses for just $1 for the year. There's no cash or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. And TSX under the symbol VGZ. Welcome back, folks. This is Jacob Schup with Tim Ord of the Ord Oracle. Before we went to break, Tim, we're looking at the GDX, a chart you had. The GDX currently traded about $27.55 and has kind of been moving downwards for the past month. What are we looking at with it? Yeah, it's moved downward. Like I said, January 5th, the discount, a premium discount for the Sprout Gold Trust has been below minus two, and that's usually in the bottom area. That gap on, I got a note there on that chart. It says 27.23. That's where that gap starts. That's probably where we're going to head. There's another gap right above it. It's kind of a place gap there, sideways market. That was on November 21st. We hit that gap and rocked it up, and we'll come back down. But really, this market hasn't done anything since August of last year. It's gone up, it's gone down. It looked like a head and shoulders bottom formed, which it probably did. It had projection up around 32, 33. It got basically to the minimum. Now it'll come back down again, but now you get the discount minus two again, so you're still looking at some short term low. Could this sideways pattern go on for another six months? Could, but at some point you're going to hit an impulse wave. Excuse me, and an impulse wave is where the market pretty much trades one direction instead of this chop back and forth. So don't know when that's going to happen, but internals look okay. They're not extremely bullish or bearish. You had the bullish percent index high as it got, which is up around 53%. In other words, 53% of the stocks on GDX run pointing to your buy signals. That's still around 50, so that's not bearish, but it's not really bullish either. So it's kind of a nothing market right now. So I don't think we're really breaking down here, but we're not breaking up either. But I think we're probably going to test that gap and bounce off that gap and how the next rally performs will tell a lot. But momentum studies are just kind of neutral. They're just not showing a lot here. But it would be nice to see. That's something in the market that's easy when it happens though. Definitely, and it would be nice to see some actual movement in gold as well. Any of the substantial moves now, of course there are some decent equities who have done well over the past few months, you know, even talking like the August timeframe. But seeing like the whole sector really take off would I think would be super nice. Can you explain a little bit the up-down volume here at the bottom chart? Oh, right. Okay, the, it's an 18-day average. The bottom window is the GDX up-down volume percent and it's an 18-day average. And over time, basically when that indicator is above minus 10, the market is at an uptrend, which is all the blue area. I see. When it's below minus 10, which we are right now, it's in a downtrend. And the next window up is advanced decline. There it is, up-down volume. Bottom window in the next one up is advanced decline with an 18-day average. And that's also below minus 10. But you know, in a downtrend, you know, they're below minus 10, but once you start getting above minus 10, is when another uptrend starts. And right now, I guess you say we're in an uptrend, but you got to remember that the minus 2% discount always comes near lows. So, you know, you're not going to keep going down with the minus 2 on the, so most likely you'll probably hit that gap, probably found support and how the next ride will perform, or kind of tell how the story will be. Maybe we'll go up for a while and turn back down. It's just kind of a much market. It's just really, you can't say, you know, I like to see a blowout. I think the big blowout on gold did come in August of 2022. I'm thinking that was a major low back, a multi-year low back in 2022. And the market has worked a little bit higher. I don't think we have the strength or the weakness, I guess you might say, to get back down to the August 2022 low. So, we're in some sort of a consolidation phase that's building cause for the next rally. But that rally may not start until later this year, I don't know. Right, right. I thought we were starting here with the head and shoulders bottom pattern that worked out pretty well, but didn't follow through. Yeah, and really the question is, you know, what is that major catalyst and how are people viewing it on a larger scale? Well, Tim, thank you. Thank you so much for coming on. That was fantastic as always. And I really always learn so much when you come on. So, I really appreciate it. Okay, yeah, I'm glad to be on. So, I guess we'll talk next Tuesday again, so. Next Tuesday, I think Tom should be back as well. So, that'll be fantastic to have you guys back on again. And everyone, this is Tim Ord of the Ord Oracle. That is Ord-Oracle.com. Go visit his website, check it out. As you heard him mention earlier, you know, he released updates to all of his clients. And it's just more of this really good stuff. Really get into the nitty-gritty of all of it, which I think we can all appreciate. Tim, thank you so much. Thank you. Talk to you later. Absolutely, take care. All right, that was good. And really, you know, that's so real. I look at gold a lot, you know, especially when Tom releases his gold report and just seeing this kind of sideways movement, at least in the gold contract, really. And then, you know, obviously we're moving down to the GDX. You know, I would love to see this really, like, take something and just really move forward with it. Of course, you would see that with the other metals as well. Silver more so with that. A lot of people will invest in gold, right, as some kind of harbor from inflation, okay? And I wonder, and I'm not necessarily sure of the veracity of some of these statements here. There is some of this idea that Bitcoin can now be a kind of, you know, protection class, essentially, right? This is coming from Larry Fink. And now, of course, that's not the only impetus for people to, you know, people buy physical gold a lot with it. But even a lot of these guys who win a harbor from inflation will buy ETFs even, or individual stocks. And I wonder how much going forward what Larry Fink is saying right now is going to kind of challenge that traditional mindset, right? And I'm of the opinion that Bitcoin is not really inversely related to inflation. I think it has much more to do with how much excess capital is in the traditional market. And I think you saw it mainly behave like that over the past few years. But I would say also, there's a lot of incomplete data on that, right? We've only seen the increase in the rising supremacy of Bitcoin in an era that had just cheap money, essentially, right? Take a look at what Larry Fink said. He said, an asset class that can protect you. He goes, let's see here, in a notable statement, Larry Fink has expressed a positive perspective on Bitcoin during an interview today with CNBC. This was last week. He goes, I believe if it goes up, if the world is frightened, if the people have fearful geopolitical risks, they're fearful of their own risks. It's no different than what gold represented over thousands of years. It is an asset class that protects you. Again, I think there are some issues, again, with the statement mainly. And now, of course, who am I to challenge the comments and sentiments of the CEO of BlackRock? But just the way that I see people really interact with crypto and Bitcoin in particular, it has nothing to do for them, at least, of being fearful that their purchasing power is going to be eroded, right? Or something bad will happen to the economy that they're in. Now, you've seen smaller nations such as, you know, let's say Ecuador start adopting Bitcoin, not necessarily a Bitcoin standard, but using it to dump a bunch of their national money into and kind of have it appreciate, right? But still, I believe from that perspective, that was much more of a way just to essentially make more money as opposed to just kind of preserve the capital that existed already. Folks, stay tuned, we'll be right back for a short segment. Tom publishes his daily Market Insights newsletter every market day before the market open, along with updates when warranted. Stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to your inbox. Whether you're a seasoned trader or just starting out, Market Insights provides the edge you need to navigate the market with confidence. Ready to join the ranks of successful traders? Head over to tfnn.com and subscribe to Market Insights today. Don't miss out on this opportunity to supercharge your trading results. Market Insights comes with a 30-day money-back guarantee for all new subscribers, so you have nothing to risk. Don't miss out on this opportunity to revolutionize your trading game. Head over to tfnn.com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter, Market Insights firsthand. TFNN, Educating Investors. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at tfnn.com. When you subscribe, you'll get a weekly report from Veteran Day Trader Larry Pezzavento on stocks you need to pay attention to, and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos, and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know, and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today, tfnn.com, Educating Investors. Market advice can help you turn this chaos into a key for creating winning trades. At tfnn, we understand that it can be hard to find reliable market news. That's why each of our market experts offers their very own market newsletter. A must-have tool for every trader out there striving to find an edge in today's markets, tfnn newsletters cover every aspect of the markets so you can analyze the market before you trade. Try any of our great newsletters risk-free with our 30-day money-back guarantee. Just visit the Newsletters tab on the front page of tfnn.com. tfnn, Educating Investors. Don't forget you can listen to tfnn live on your mobile device 24 hours per day. Go to tfnn.com and hit Watch Tiger TV. That's tfnn.com and hit Watch Tiger TV. Welcome back, folks. This is Jacob Schuett, filling in for Tom O'Brien. We're going to move past the cryptocurrency conversation. You've seen recently, hold the last note on it, as we've seen kind of a sell-off in Bitcoin since the release of some of these larger ETFs that were just allowed by the SEC. The conversation is, you know, why is Bitcoin going down like that? I would say probably a lot of people trying to cash in. I think with grayscale, what the model was was you could give Bitcoin, get shares in the trust, but there's no way to kind of convert that back out. And there have been, now that it's been converted into an ETF, they're able to now get the Bitcoin back out and kind of sell off. I think people are just trying to, I think there's a decent amount of people, at least, that are trying to get rid of the Bitcoin now, just make some profit on it. And again, I think that's the general sentiment, not this brand new financial instrument, right? What does he say? He's trying to, I kind of go in a little too hard on this, but it's, you know, we're trying to make a new class essentially, right, just like gold, but this is better. And how is it really better? Right? I don't understand necessarily. It's not really tangible, right? What he says here is unlike gold where we manufacture new gold, he's like, there's only a finite amount of Bitcoin that can be created, we're almost at the ceiling. Okay, true, but that's also, you know, that's not like a natural wall, right? I mean, you could, I mean, Bitcoin is going to be finished out once it's fully mined. Whatever the next thing is, I mean, that has an artificial cap as well, just like gold production has some kind of artificial cap, quote unquote, right? Obviously, a lot of factors go into how much gold can be mined and how much released, but still anyways, I think we're seeing Bitcoin going down because people want to get out and make money. And I think that's generally the sentiment people have on Bitcoin in general, and kind of these cryptocurrencies as a whole. We'll talk a little bit. You had the Pentagon essentially saying that we need to make more weapons. It's going to be great for weapon manufacturers going forward. Japan is buying a ton of our Tomahawk missiles. Whenever you see the Pentagon being like we are struggling against other nations, you know, it means that true. But really in reality, what you know is you're going to get a huge investment in new weapons production. Folks, thank you so much for joining me today. I think I'll be with you tomorrow. We'll have to wait and see how that turns out. Have a great rest of your day.