 The following is a presentation of TFNN. The Morning Market Kickoff with your host, Tommy O'Brien. Good morning, everybody. I'm Tommy O'Brien, comedy live from TFNN Thursday morning, just after 9 a.m. Eastern time. We got about 24 minutes to go until the start of trading and we got markets in positive territory. Russell actually flat right now, but you have the S&Ps up about seven points. We're seven points in the positive, but we're 30 points above where we were trading at at about four a.m. Eastern time. We're right now trading up seven in the S&Ps. That's almost two-tenths percent in the positive, NASDAQ 100. We catch a bit off the lows. We had a 14,000 handle yesterday in the afternoon. We got down to 14,937 overnight. We're trading at 15,087 up by four-tenths percent. Dow up by 24 points right now in the Russell. Flat as I mentioned. Crude pulling back a bit. We were down in the 85s. We're trading down 87 cents right now to 86.40. You jump over to the gold contract. A little bit of volatility, but pretty much chopping around near the highs. We're up to 1975 yesterday. We're down to almost 1950. We're trading at 1965. Technically down almost $3 in the session for gold. We got to talk about yields. Got to talk about yields, even though we're getting quite a spike right now. I think 4.98 is the number. Maybe somebody in the den has it. What was our high yield print there? Did we get above 4.98? I think that was the high. 4.98, you talk about it, man. Right up against that level in the 10-year. Sorry, just one moment as I jump around. And I mean, it's not that long ago yesterday, man. What were we pushing? Yeah, yesterday. I mean, imagine on yesterday's program, right? We're flirting with 10603, something like that. We'll talk to our man, Kevin Hinks, coming up after the first break at 915. We were talking about yields. We're at 10603. You almost lost 20 ticks to 10512. We get a little bit of a spike. We have some jobless claims data. The economy continues to be strong to say what you can, and there's your jump even on the two-year a bit. But man, mammoth moves right now. When you're talking about it, let's see where we are right now, as I mentioned. Taking a look at those yield curves. Yeah, so the 10-year, pairing it to 4.93. So I think we got up to 4.98 the yield on the 10-year. Pretty remarkable, man. You take a look at the longer-term trend on the 10-year. We were talking about the upper boundary line of this channel line, not that long ago, man. At 108, can't believe you're talking about basically 105, and we got within 10 or 12 ticks of that price level. So you might be approaching an area that maybe we get a little bit of a reprieve, even in a downward trend channel. Downward channel, we just traded from 108 to almost 105 in the 10-year. And you're talking about over a period of one week. Mammoth moves to put it lightly. All right, what else do we got? Let's jump around to some of the equities with their numbers, and you jump around. And some big numbers from Netflix last night. And look at this thing charging higher. We're up $56 right now. We're trading at 400 bucks. I didn't remember. Let's back it up a little more. This thing was down to 162. We're gonna open at 400. Now it's been quite a little bit of a pullback here. Let's take this Fibonacci number off there. And just on this pullback recently, let's start it right here. And you're talking about a high of 453 back in the week of September 4th. So you're gonna have 453. This thing's given up over $100 since the beginning of September, right? Remarkable. Now let's just look on a Fibonacci basis. And man, we're gonna open above the 50% of that entire move. I guess so. You're talking about $100 move, $106 move. Netflix right now trading up $54 on their numbers. You jump around to their numbers. Just absolutely substantial in terms of the number of ads they have, the free cash flow they have. That's being made easier by the fact that they have a strike going on. They're not producing as many films. That'll come back to get them in the later years. But nonetheless, man, the sharing the passwords is a real deal. I think we all could have clued into that one and that's gonna continue going forward. Now on the flip side of that, Tesla. So much for our channel line, looking for an example trade going higher yesterday. Not the case as Tesla jumps higher and now jumps lower, excuse me, and now they jump out of that channel line. And you're talking about opening right now to about 227 on this chart is where you're talking about. You look at the 10 minute chart, five minute, 227. You're down to 224. And yeah, jumping over to Tesla. So they're gonna start making cyber trucks at the end of this year. Tesla's, Elon's got promises for the future. They miss the profit and sales estimates and margins are gonna be the focus. Yeah, cyber truck is starting at the end of this year. Getting down. There it is, margins. I mean, look at the first quarter of last year and their margins are cut in half. And they're below anything that they've seen basically since the beginning of 2019. Yeah. Automotive gross margin excluding regulatory credits slumped to 16.3% of the quarter, the lowest over the four years. The market was looking for 17.7. Okay, so there's the big one. It's a percentage and a half below on margins and it's probably going even lower. They are on a different quest right now to gain economies of scale. And I imagine it's gonna face some weight today because you're still at a pretty lofty level, man. You're still at a company right now. It's valued at $720 billion. So you're dealing with some lofty multiples to put it lightly, but nonetheless, you got markets in positive territory with the S&Ps up by nine right now. Jumping around to what else I had pulled up. Jobless claims this morning, 198,000. The market reacting to this number a little bit in the last 45 minutes trading a little bit higher. Labor market remains hot. Continuing claims rising to 1.73 million is the number there. And yeah, I mean, look at these trends, right? Continuing, you can see a little bit of an uptick, but on an initial jobless claims front, man. We have, you could make the case, been trending lower outside of a couple of spikes almost as March. We were chopping around between 225 and 250 for February through May. You got a spike and then the decline. But we're seeing numbers that we hadn't seen since inflation was almost peaking, which is remarkable. When you're talking about 198,000, retail sales 0.7%, right? And you're gonna see Chairman Powell talking today. So he has a conversation with, I can't believe I'm blanking on his name of Bloomberg. There's somebody that then will help me out, but we'll see what he has to say, man. Yields are gonna be in focus and they have a Fed meeting less than two weeks away. So Chairman Powell will be out there talking. S&P's up by nine right now, Nasdaq up by 74. We jump around to some of the other fang stocks this morning. You're gonna have Apple shares opening up by about 50 cents to the positive right now, catching a lift recently in the last, yeah, really off that initial jobless claims number, man. The market likened that number. Not exactly sure why when it's indicative of a hot economy as usual, but nonetheless, weekly jobless claims under 200,000. Stay tuned, folks. We'll be coming back, talking to our man, Kevin Hakes. We've got markets in positive territory, S&P trending right at 43.50, we'll be right back, folks. 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. 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. 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 30 days risk-free today. TFNN, educating investors. TFNN has launched 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, the Tiger's Den, 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. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Welcome back, excuse me. Welcome back, folks. We've got the S&P Futures positive by eight points, trading at 43.50 to talk about some of the action this morning. Let's jump over to our man, Kevin Hicks. Every trading day, folks, 12 noon Eastern time from the Schwab Network Fast Market right here on Tiger TV at 12 o'clock with Kevin Hicks, Tom White, the team at the Schwab Network. They got some great guests. They walk you through hypothetical trade setups. If you haven't watched the show yet, and I'm sure you may have, but check it out every day. We're coming into earning season. And Kevin Hicks, we almost got that 5% number on the 10 year yields in focus yet again this morning. Good morning. Good morning, Tommy O'Brien. Yeah, it's a big number. Because there's human beings, and they see big numbers, and that should bring in a lot of two-sided paper in bond market. So yeah, it's a big number worth watching as we inch close to it. We're still a little bit of ways away, 493 on the 10 year, but inching ever closer, Tommy, and more economic data, jobless claims now below 200,000 jobs at 198,000, incredibly, incredible strength of first-time buyers for unemployment insurance, Tommy. And what did you think, Kevin, or the reaction from that? You said it, well, 198,000. Man, this economy is just relentlessly strong. 198,000, you look it down on a chart. We're talking about lower numbers coming at you on an initial jobless claims number, at least, the continuing going up a bit, but the market sees that and trades up by 10 points. It's great for the economy, but it's interesting how sometimes we get numbers and the market gets a little worried because that's part of the yield conversation, of course, that yields are going higher, inflation is still there, and other times it trades higher. What do you think of just that interpretation of the number we got this morning? You know, jobless claims used to be, it's a weekly number, it's a high frequency data point that we get. It used to be not as important, not as big of a market mover as it is today, Tommy, and now the market moves off this number every Thursday morning. So it's as important now as any others. And, you know, it's, Tommy, it's when we, I think the most important thing that we get is the entirety of the data, which means the theme or his praise to use, he's really not getting it. And so these numbers are coming in, remember, a strong labor market leads to higher wages, higher wages needs to more disposable income, more disposable income leads to more retail sales, stronger overall market, and Tommy, that's what rates are reacting to, frankly, and the Fed, the Fed's not here buying bonds. They're actually selling bonds, they're lightning their balance sheet. So there's a lot of pressures on the bond market right now, Tommy, and the Fed's not there to really change that, at least right now, right, some events, remember, when the regional bank problem happened in March, the Fed bought bonds in that. So yeah, I think what we're seeing within straight to the overall market, they don't mind 5%, they don't like how fast it's gone there, Tommy. Last Friday, the yields were 4.63, now they're 4.9, that is too fast. It has been a rip-worn rally for the week, I have it up here on the Thinkorswim platform, and man, since May as well, quite the channel to down lower prices, higher yield, of course, on that 10-year, and yeah, I go back to March, Kevin, just because you were mentioning it, I have it up here on a daily chart going back 12 months, just looking at the 10-year futures, and they were trading during March at 111, and they're at 105.20, and that's where the banking crisis began, right, when we had the 10-year trading at 111, we're solid five points below that, even though you got that acceleration, like you talked about, all the way up to 117, and then man, we've given it up. With that in mind, we got some earnings numbers. Hey, what did you think of Tesla and the margins, some tough margins for Tesla, man, and they're trading lower this morning? Well, we knew Tesla was gonna have lower margins, right? Elon Musk has been ratcheting down prices, and he talked about it in his conference call. He talked about the macro conditions are stormy, and he's worried about the affordability of cars, that's why he keeps bringing down prices, because higher interest rates are affecting people's ability. Now, he's navigating these waters, but it's bumpy out there. He said the macro conditions are stormy, but Tesla is a capable ship, and the Cybertruck release is good news for Tesla finally, but he's playing a much longer game. He's gotta get these cars, in his opinion, he's gotta get them affordable to everyday Americans, and when he does, that's, he's, you know, Tommy, here's the stand that I said yesterday on Fast Market. They sold in the first half of the year, they sold 325,000 cars. If you add the 19 other EV makers together, he beat all of them combined in terms of sales. So he's so dominant, and he keeps pressing his advantage by lowering prices. I think Elon Musk is playing a game of chess when a lot of the other makers are playing checkers, Tommy. I think he's way, way ahead of the game here. Yeah, it's pretty cool to see a play out in EV. They're all trying to play a catch up right now. Like you said, interesting volatility for Tesla, and we'll see how we go in the open as we know. With that in mind, we go forward, Kevin. Do you guys have some equities that you're talking about on Fast Market coming up at 12 today? Think about the payment space is what we're doing today. We're gonna trade Visa, like Bull is gonna talk about America Express, and then we'll trade PayPal in the last segment. So all about electronic payments today, Tommy. Visa, America Express, and PayPal, I like it. Kevin, excuse me, I appreciate the time as always, man. We don't talk to you tomorrow, we'll talk to you on Tuesday, but have a great day. We'll be watching at 12 o'clock today, and we'll talk to you next week, man. Thanks for having me on, Tommy, have a great day. Always a pleasure. Folks, check it out, Fast Market from the Schwab Network right here at 12 o'clock today, and you heard it, they're talking some payment processors. Visa, America Express, and PayPal, taking a look at Visa, right? I was looking at this thing the other day. Check it out. You talk about relentless pressure to the upside, man. You come into COVID at 200, you drive down to 140, you make that high at 252, and we're pushing those highs. Yet again, you peak out before the market, as in the market peaked out, recall, at the end of 2021, right? You had the tech stocks just charging higher in the final quarter of the year, but many equities peaked earlier that year, and had rolled over already. Amazon, Disney, that's way earlier, right? But check out Amazon, right? Amazon peaked out actually in July of 2021. You had to roll over in Disney earlier in the year, 203, that thing straight down to COVID lows of 84 bucks, but nonetheless, Visa, 252 down to 180, and just like that, man, you are up, what's that off of those lows? We're pushing 240, that's 60 bucks. Yeah, 33% almost from the lows, and you're pushing those recent highs at 252 for Visa. America Express, different story, right? You're actually below where you came into COVID, 1638. It's been quite a pullback for American Express. Oh, no, that's not American Express, excuse me. That's American Express, what am I doing? Maybe somebody can help me on the dent. I'm at a brain fart. All right, well, I'm gonna get saved by the break even better. AmEx, yeah. What's going on with my symbols? No? All right, we'll jump to PayPal. AXP, thank you, of course, there we go. Thank you, Dan. Yeah, not much of the same. 199, you're back to 153, and you're just above the COVIDs, but you haven't got the same acceleration Visa has this year to test those recent, those highs that you made back in 2022 from American Express, and then PayPal, total different story, right? Check out that. 310, down to $56 for PayPal. Well below where you came into COVID, some of these equities, man, how did that happen? There's your five-year weekly, though. Stay tuned, folks. We're coming back for the market open. We'll be right back. 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. 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. Excuse me, we get the S&P positive by four points on the open. Trading at 43.48, we get the NASDAQ 100 up by 64. Dow barely in the red right now, 33,801, and we get the Russell. Check that out, right? When we had the markets in the positive, I mentioned the Russell was basically flat in the red. We're now negative by 11 points, man. You get some real weakness. Check out the move just from Tuesday. What's that? 60 points, more than a 3% pullback in the Russell from where we were at the highs of Tuesday. S&Ps open up positive by about six. Let's check in on Tesla. Tesla shares down about $15. You're off by 6.3%, we jump over to Netflix. They spiked to $4.95, we're back to $400. We check out some of the fang stocks. Apple shares up by a third of a percent this morning. We jump over to Amazon. There's a bid for you. What's going on with Amazon shares? They get a little bit of an upgrade. Oppenheimer reiterates an outperform on Amazon, maintains a 170 price target. Something like that. Record prime-like event. You know, I had some things. Did you buy some Amazon products on their big deal days? I had some things in my cart. Didn't pull the trigger. Didn't do it. They didn't get me. They didn't get me. But what's interesting was I had them in the cart and then they're still in the cart so I can look at the price and some of them did go up a decent amount where there actually was a pretty substantial deal on some of the products I was considering buying. Nonetheless, Amazon, up by 2.2% right there. We jump around. Disney shares up a bit. Warner Brothers Discovery, up by 7.10%. We jumped to some of the streamers to see on the Netflix heels. Paramount, up about 1.10%. When we jump over to Netflix, yes, they're taking a little bit of profit today. Still up by 47 bucks. But boy, you just gave up 15 bucks from that spike of 409. We're at 493 right now. We jump over to Tesla and they're sitting right where we open right now. Down above $14. Taking a look at the five-year ladder. We talk about this, right? This morning, 5.17. Interesting, you really don't jump around that much in the five-year ladder. As much as you see on the yields, of course, on something like the 10-year, because the longer you go out in duration, right? The more exposure you have. The cool part about the five-year ladder, which is why I bring it up, is you get exposure to the one-year, two-year, three-year, four-year, and five-year. Well, the one-year's not moving right now. You're getting about 5.5% because they're pretty sure that rates are gonna be high for the next six or 12 months, right? The two-year's pretty close to that price level even considering right now as well. But you get out to the three, four, and the five. That's where you get a little bit of movement, nonetheless, you're still talking about. I'm hearing friends in my group chat, right? Who are very bright individuals, live in Brooklyn, actually, work in marketing. And so they're not in finance, but they're a marketing professional, professional who manages their own portfolio, and they're talking about their parents, and they're talking about saying, I gotta get my parents into some of this free yield, right? I mean, I gotta park at least like 20%, and I thought even 20% depending now, they're still working, okay? But saying I should be parking 20% in this free five-plus-percent yield, and it's very real, especially on that end of the spectrum in terms of retirement, retirement goals, conservative nature, aggressive nature. And like I've mentioned before, okay, I am right now 43 years old. I gotta pause and do the math on that, unfortunately. And yeah, I have most of my 401k in growth stocks, okay? So longer term, yes, even at 5%, there's an opportunity on a longer-term basis. I did the comparison a couple of days ago or yesterday. You do that five-year ladder, you compare it to the S&P. That's like locking in 5,600 and the S&P risk-free right now in five years. There's a very real chance that S&P is above 5,605 years, okay? I'm betting on it, actually, by having my 401k money in growth stocks, et cetera. But when you talk about risk-free rate of return, I mean, we were talking to Teddy Kegstad about it yesterday, right? Haven't seen this in a long time. So pay attention to that one, man, because that's gonna be a headwind for this market at these yields and the higher they go, the more of a headwind it is. And it's kind of a double whammy in terms of presenting an alternative for the market at the same time that these companies are gonna be facing pressure from higher yield, higher cost of capital, et cetera. All right, speaking of yields, we jump to this piece from the journal. And it's talking about the correlation. This one's out early this morning. All right, I was reading it before the program. This is the correlation of returns for the S&P 500 and long-term treasury bonds. And that's a problem when they're correlated, when you are diversifying between a mix of equities and fixed income. Okay, the 60-40 investing strategy just had the worst year in generations. Higher interest rates and inflation are upending millions of Americans' retirement planning. Wall Street's boilerplate mix of stock and bonds isn't cutting it anymore. It's fascinating when you look at it in this direction. Okay, now they have a correlation of the returns of the S&P 500 and long-term treasury bonds. The higher this is, assets are moving together. The lower that is, assets are moving in the opposite direction. And I gotta sign in, I am a member. I was reading it this morning. All right, I'll sign in. We'll go over that one after the break. I don't know why it kicks me out sometimes. Shame on you, Journal. Let's see if I can click a couple buttons real quick. Two. Okay, there we go, we're back in. Just like that. The beauty of Google saving all your passwords. They go over the numbers, of course. Down 14% from the highs of 2021. That's a diversified portfolio, man. Down 14% from the highs of 2021. Annual return for a portfolio in 60% stocks, 40% bonds. Yeah, you were down almost 20%. You're up 6.7% this year, but you're still down over a two-year period, right? Talking about 13, 14%. Now the kicker here is that might be about to change because it's not often you go from an environment of 0% yields. Who was locking in the tough part about this, okay? Is that the 60, 40 portfolio mix was probably not a great mix when rates got down to where they were, right? Long-term, held to maturity, US Treasuries, probably not a good thing to park all your money in as a bank when rates got where they were. We reached an exacerbated point in rates. We were already near the lower boundary line when we came into the pandemic. Rates crashed to try and stimulate the economy during the beginning of the pandemic, and then as we started to come out of it, and then what happened? We ripped higher as inflation ward, and it was a once in a generation, you could say move in those yields. So we are now back at a point that it's pretty cool that you're guaranteed a 5% rate of return on that money if you hold through duration, okay? That's why you buy a five-year CD right now at 4.9%, which is about what a five-year CD can lock you in at. I think the five-year US Treasuries just under, let's see what it is, just under 5%, I think the five-year. Five years at 4.95, let's take a look. I just pull up CNBC for the yield curve, man. It gives you every date of it. If you're looking for this, folks, you just go into markets and go to bonds. On the CNBC homepage, you can see the entire yield curve with their pushing out there. The 10-year, 4.93, the five-year, 4.95. Now CDs will probably catch up. That's where you're basically getting their CD. I think the CD is 4.9 right now. You hold that through duration, through expiration. You're getting that interest rate, no problem, okay? And that's where things vary in terms of the ability to lose money. It's not happening right now at 5% if you hold. Stay tuned, folks, we'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. 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 and 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. Will the S&P 500 continue to climb for bold trades on U.S. large-cap stocks in either direction, trade SPXL, SPUU, or SPXS, directions daily, S&P 500, bull and bear, leveraged ETFs, direction leveraged ETFs? An investor should carefully consider a fund's investment objective, risks, charges, and expenses before investing. A fund's prospectus and summary prospectus contain this and other information about direction shares. To obtain a fund's prospectus and summary prospectus call 866-476-7523 or visit directioninvestments.com. A fund's prospectus and summary prospectus should be read carefully before investing. An investment in the funds is subject to risk, including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, four-side fund services, LLC. 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 tigeresses 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 tigeresses 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. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Back folks, we've got markets giving up the gains. Just like that, we got the S&Ps. Back to flat, red territory, NASDAQ 100. Back to flat to red territory. We drop about 100 points right there and the NASDAQ 100. Just shy of that level, we get up to. We spiked on that 930 about a 15,109. So we give up about 80 points, 15,029 right now. And you're coming into right where we were at about 3.30 in the morning before you got a little bit of a sell-off. Same area in the S&Ps. Coming into that area of about 43.40. That's kind of the area you spiked to yesterday. You did get 10 minutes below that price level. You made that huge acceleration down to 43.30 right towards the end of the day. Got a little bit of a bounce into the close. We're coming right back into that area right now at 43.41. You have Powell speaking at noon Eastern time. Always the potential for something. He's probably not looking to shock the markets, but it is interesting what's going on with yields right now. The 10-year inch enclosure to 5%. Yeah, so we'll see what he has to say. Excuse me. All right, jumping around. So check out this one just from an AI perspective. If you haven't tried out chat GPT folks, just try it out to understand what's going on. Play with it in terms of seeing the type of results that it can yield. And I think it allows you by using it to better understand how game changing this technology can be. Now, open AI is in talks to sell shares in an $86 billion valuation. It's not about millions anymore, right? It's about billions. So that's a number that isn't too surprising considering how they've taken shape and taken the AI whole sector by storm. $86 billion and that's going to jump them right ahead of Stripe, Sheen to become one of the world's most valuable, closely held companies. Now remember, Microsoft owns 49% of this company, okay? They're on track to generate a billion dollars in annual revenue as businesses adopt the technology. I imagine that is going to have an exponential growth rate in terms of how they're able to capitalize on this myself. Now the cool part, right? I mean, this is how you just so much cash, man. You don't have to go back far, folks. You're talking about going back to January, okay? Microsoft said in January, it's making a multi-year, multi-billion-dollar investment in open AI, okay? They invested $3 billion in open AI and I think the deal is $10 billion, right? And they got 49%. I was trying to figure this out, right? Yeah, a year later. So they've been in $29 billion, okay? Open AI is in talks to complete a deal in which it would sell existing shares in a so-called tender. $29 billion is what it valued the company at and right now it's at $86 billion. This is from January of this year. Now, things have gone pretty well for this company since then, but it is pretty staggering how Microsoft got in. They invest $10 billion. I thought it said in this one, I'm pretty sure it was 49%. There it is, yeah. 49% owner. Pretty remarkable the returns that you got on that. So they're remaining private and why not? Because they're a private company that's 50% owned by Microsoft. So that's quite an asterisk to be a private company owned 50% by Microsoft, nonetheless. All right, what else do we got pulled up here? Yeah, we talked yields, we talked Tesla, we talked Netflix, jumping around to what I have. Yeah, we talked our 60-40 portfolio. All right, let's jump around, see how some of these fang stocks, take a look at some commodities. Take a look at Amazon as they get a lift on a little bit of an upgrade, up by 2% right now for Amazon. We jump over to the retailers, Walmart down about 210% target shares, positive by 210% right now. We jump to Apple, positive by 210% speaking to Microsoft. They're up by a full percentage this morning. NASDAQ 100, barely in the green, man, by 15 points right now. We get the Russell off by eight. We jump to the gold contract, hanging tough, man. 1966, that gold contract, talking about dollar strength. Check out the dollar, down to 106.29. And we're just chopping around, right? You have the run from $99, almost a hundred, we'll call it, up to 107. And we've just been chopping around in this area, basically for about three weeks. We got into this area September 26th, and we chop it about 106.30. We keep our eye on the 10-year. Yeah, the 10-year is sitting in 105.21. I mean, the moves have been so mammoth. I imagine this market might settle out a bit. As we come into the 12 noon time frame for Chairman Powell, I mean, they go into the quiet period pretty soon, man. They got a meeting 13 days from right now. So you're going to have Chairman Powell at 12 noon, and we'll see if he makes any headlines. It's only about a one out of three chance, in terms of probability, that they hiked priced into the market right now. So it would be surprising if he said something to counter that narrative. We'll see if he does that. We'll see if he does, though. Yeah, jumping back to Tesla, taking a look at the margins. I mean, you're talking about margins, sinking from 30% down to 16.3%. I loved Kevin's analysis when we talked to him at 9.15 AM this morning. If he didn't catch it live on the program, folks, everything we do is archived right under the TFNM page on YouTube. Just search TFNM. You can find all the videos we do there. And he was talking about the amount of cars that they produced in the first half of the year versus every other EV maker. And they're going for much bigger than that, though, because the amount of cars that they produced, compared to the amount of cars that the big car companies actually produce, it's not even close. And so they need to reach some economies of scale. And this has the market a little worried, and it should, because that's a trajectory to lower prices. Now, here's the other side of that, man. Tesla has a raw deal, and that Tesla has transparency in their prices. We all know that you see a sticker price for the car that's really not the price that they're willing to sell it at, right? That's not the case with Tesla. Tesla has the exact price posted on their website that you can buy those vehicles at, which is why the whole world finds out when they make a price change, okay? Other car companies are potentially facing waning demand, which is part of the reason that they are lowering prices, okay, to push out more supply. And other car companies are facing that as well. We've seen some of those prices come down on the CPI, even used in particular. But they don't have to post those prices. You don't see the price change posted on their website readily available. What do you see? You see the sticker price that really isn't changing, but maybe they're giving you more rebates. They're doing something. So other car companies are facing that as well. Tesla's the poster boy, because they literally have to put it on a poster on their website, which is how they operate in business. But that is a trajectory that brings margins to much lower prices. And I don't know why you would think they would be done raising prices just yet when it's been quite a rip-boring race to lower prices. And Elon's talking about how hard it is to afford a car with higher yields. And what do we got? We have higher yields remaining coming at you. So it is a tough one. Because as my dad says many times on his program, right, it's what's your signature worth, right? Which is the interest rate related. What is your signature worth? We're seeing in a play out for houses. Your signature worth so much less in terms of being able to afford a monthly payment for an automobile, for a car, or for a house. Because interest rates are higher and that pushes that payment higher in terms of buying the same amount of asset. All right, folks, stay tuned. One more segment. S&Ps basically posited by one. We're coming back. Stay tuned. We'll be right back. The Gold Report As a precious metal, gold is still king. It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market, the US futures market, and the Shanghai Gold Exchange. The Gold Report Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, The Dollar, Bonds, the South African Rand, as well as 25 different mining equities with specific buy-sell recommendations. The Gold Report New subscribers get a 30-day money-back guarantee so you have nothing to risk. Subscribe to Tom O'Brien's Gold Report newsletter now at TFNN.com 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. 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. The Russell, off by 10. Russell been particularly volatile. Speaking of volatility, we jump over to the VIX this morning. Got to above 20 just towards the close yesterday. We were over that area overnight. We're sitting at 19.27 right now for the volatility index. We checked back in on Tesla. Off about $18, you're off by 7.5% for Tesla shares. On the flip side of that, you jump over to Netflix. $400. Up 54 bucks or 15.6% for Netflix shares. Quite the resurgence and quite the subscriber growth that they have coming back. Password sharing, that's going to pay dividends. No pun intended for some time, as I'm sure there's many people that eventually are going to get on that Netflix recurring revenue chain that weren't quite on it. All right, we checked back in on the yields. We got Chairman Powell speaking at 12 o'clock today. So keep 12 o'clock on your radar, about two hours from right now. He'll be talking and we'll see if he makes any headlines to put it lightly, right? Let's check back in on Amazon. They were trading up about 2%. Yeah, holding on to those gains. Amazon up by 2% on the dot, up $2.56. They get an upgrade from Oppenheimer, I believe, pushing a $1.70 price target for Amazon as they catch a lift. We checked back in on some of the banks. JP Morgan up by 4.10%, Morgan Stanley quite a day yesterday, man. Today, yeah, already giving up some of the gains. Up by 7.10%, Goldman Sachs was trading lower yesterday. They claw back some of those. Up by 8.10% right now. We check out the airlines, united up by 1.3%. American, they catch a little bit of a lift on their numbers. Up by 3.5%. We jump over to Delta shares, positive by about 3.10%. And just like that, we got some red on the board as I go off the air. 43.41, the day as young as our man, Basil Chapman would say, he's coming up next, folks, for the Tiger Technicians Hour. Live right here on Tiger TV at 10 o'clock. We got our man, Steve Rhodes, coming up at 11. Yeah, doing it in my head. Fast Market at 12. Larry Pizzamento live at 1 o'clock. Yeah, so Basil's up at 10, folks. Steve Rhodes live at 11. Fast Market at 12. Larry Pizzamento live at 1 o'clock. My dad, he's back, folks. My dad is back from vacation. He's ready to go. He's live for three to four today. Don't miss it, the Tom O'Brien show. Have a great day. I'll see you tomorrow morning, folks. Thanks so much.