 Welcome, folks. This is Tom O'Brien of TFNN. We have five days a week. We go seven hours a day. We go 24 hours a day on 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, the TGIF, folks. And I'm sure most of us are going to need that TGIF. Love is responsible for its actions. Everything you think, everything you do as a consequence, and you are going to experience the consequences of your actions in one way or the other. All human beings, they're completely responsible for their actions, even if they don't want to be. Mockin' the eyes! Let's take a look at it out here. We have the Dow Industries down 686. NASDAQ's off 358. S&P's off 94. Gold contract up $25.30. 18.78 an ounce. Silver up $0.16. $21.98 an ounce. Lights recruit down a buck. $120.59. Notes and bonds. Attendee a note. Down a full point. Plus four ticks. At $1.16.25. The third year off a point and a half at $135.20. A king dollar. King dollars on the rule. Up $9.54. At $104.175. Euro is at $105. Yen is at $137. Yen is at $123.00 to $1.00 U.S. Our phone number is 877. 927-6648. Give us a call, folks. Want to know what's going on in your world. In the world of the S&Ps, let's take a look at them. What do you have? Bottom line, folks. This is going to be a cool hour because it's going to make it or break it. And what I'm talking about here is this. So you take a look at the spy. Well, first off, the spy, we have a high volume low laying out here at $380. So that wants to get tested. Now the high of that high volume low is $397. Now we've got into that to $389. So that's eight points into it. Now normally if you get eight points into it, the bottom line is that you're going to go after that low. We have an expansion of volume today, but the expansion of volume is not going to be higher volume than the low. So here's the bear case. The bear case, well, let's go look at the S&Ps first. I'm going to go look at the futures because that's going to be the quickest way to really get us an understanding of where the strength versus the weaknesses. I just finished the workshop. We had a great workshop. Bottom line, great market for a workshop. There's no doubt about that. You talk about moves. You're talking about swing points. You're talking about everything above. So we take a look at this S&P. What you're going to see first, what I'm going to bring you right here is the last time that we went lower with volume. The last time we went lower with volume, you can see it's right at that point right there. And guess what we just did, folks? Okay, now showing this when the market was actually down at lows today is that the market didn't have enough strength to go lower. The bottom line is that the last time that we had come down, you know, that's 71,000 contracts on the E-mini and that price projection, well, the price of that low is $39.30. So bottom line is it bounced along the bottom. You can see that you start getting a little strength and, you know, bottom line, it got up right to, it got to $39.31, okay? Now, we just came off that $39.31 and because this bar went over the high and under the low, it's like it really, you don't know which way that wants to go. That's the bottom line here, okay? Meaning just on this bar. So you're going to wait for the bar that we're on right now to happen. And so the bearish pot would be that we lay at this level, all you go to lows, it doesn't have to break lows, you just stay down at lows, okay? That's your bearish pot. Now, let me go back to the spy. My take is that what's going to happen here is that we're actually going to be on the bearish pot, not the bullish pot, but I want to show you both of them because we are that close that this is like a toss-up. And I know it's going to be lighter volume, so when it's lighter volume, you always have to be cognizant that you can get a really sweet bounce, particularly on a Friday. You know, what happens on Fridays is that it can be like a disaster, but the other side of that, you can get a full rejection and you can bail out. Now, if we bail out, meaning that this thing wants to bounce again, what you're going to see is that you're going to need the spy to close five points higher. Right now, that's going to be really tough to do. That's the bottom line. Right now, it doesn't have it. We're going to take a look at the NQs. The NQs, you know, they've been the weakest in the marketplace. They continue to be the weakest in the marketplace. And we take a look at this NQ and what you're going to see inside the NQ. Last time, now watch this. This is when you can tell the difference, too. Last time with volume on the way down, you could see on the NQ that price was $11,972. Now, what happened on this bounce, the NQs couldn't make it to that level. So that's telling you that, okay, the NQs, number one, are still the weakest in the marketplace. It hasn't been able to make that bounce. Now, that bounce also, folks, and this is what's important to understand, is that watch this. That bounce is only a .382 bounce. Let me clean this up for you. Because what you're going to see, when you can only do a .382 bounce, it's like, okay, man, you're going nowhere, man. Yeah, .382 bounces, it could be a dead cat bounce in a second. So you can see there it is laid out right there. So that number is $11,944. You know, so this next hour, man, is going to say it all. That's the bottom line. Now, gold, look at this, man. This is pretty intense. This is about as cool as you can get. What we've had with gold, so picture this, folks. This is how strong gold is. First off, gold has held up, which is a total mind-blower, meaning it's held up on a down market. It's held up with the dollar almost at all-time highs, okay? And then all of a sudden today, watch this, this is a classic, man. I mean, if you're trading gold inside the future market, you want to see a test with lighter volume. GC, come on. And it takes off like a rocket chip. Way to see this. This is really cool. So come out with the CPI this morning, get a hot CPI, bottom line. What do you have here? You see gold went both ways. First off, we get down to 1826, the same buy went to 1844. See the volume there? 19,000 contracts. We came all the way down and tested that with 6,000, and then you took off like a rocket chip. You took off the swing point. The swing point has 13,000. We took it out with 15,000. We ended up higher with 12,000. That's on the intraday, the daily. On the daily chart, what you're going to have here, you're going to get an ABC structure on the way up. The B point of this is 1878. You've already hit 1879. You get 250,000 contracts. This baby's on its way up to the 2009. Stay right there, folks. Come right back.