 Welcome folks. This is Tom Webri and a TFNN. We have five days a week. We go seven hours a day We go 24 hours a day in the internet at TFNN.com Always remember folks, whatever you think about you bring about whatever you focus on grows Hope everyone's having a great day safe day. Make it a great night a great week folks To master love you have to practice love The eye of relationship is home mastery and the only way to reach mastery is with practice To master relationship is there for about taking action not about attaining knowledge Mugged wise let's take a look at it out here We have the now industrials trading up 642 Nas except 252 S&Ps up 87 gold contract down $9 40 cents traded 1934 notes you got silver down 9 cents 25 dollars 44 cents announced light sweet crude up 8 bucks 111 ounce announced a barrel Notes and bonds to get the 10-year note Trading down one full point plus 13 ticks at 127 10 the 30-year offer full two points plus 19 ticks at 156 18 and King dollar King dollars are down 66 ticks trading 97 344 Euro is out here at 111 that yen is at 115.15 and the British pound is at 133 to 1 US dollar iPhone numbers eight seven seven nine two seven six six four eight If it's called folks one notes going on in your world and the world of the S&Ps Let's take a look at them. What do you have? Well, you take a look at these indices folks is that You have a typical window dressing deal and a down market We get the spy up by 850 you're taking out the swing points for the last few days And you're not gonna come close to the volume We did 145 million out here on Monday bottom line you're at 85 million and I suspect We're gonna close over the side this market wants higher price right now But this is a market that is setting up lower price and building cars for lower price that high volume low of 410 inside the S&P with spy will get tested and we'll see whether it's going to be a very large ABC structure on the way down We take a look at the NDX 100 same type of setup inside the NDX We have with the three queues out here three queues are up today six dollars 56 cents You take a look at Mondays where it's 77 million and I suspect what we're gonna do out here is probably about We'll probably do about 70 million another 13 million from where we are right now that being said guess what? You have the contraction of volume you going into the swing point bottom line I suspect it's gonna give it up in spades once again As soon as we have this window dressing over gold. We take a look at the gold contract out here Gold is building cars for higher price You get 2.1 million contracts out here today. I mean 214,000 contracts out here. That's good contract volume And that's the bottom line. You can keep this 200,000 contracts up. It's a it's a good scene You know you already broke topside on this baby, you know you get the spike high out here at the 1976 I suspect we're gonna see is that good old gold's gonna run for these highs Notes and bonds we take a look at the tenure note what you're gonna see with the tenure note You're down On two million contracts that being said as I said that the update bottom on you went up with three million contracts So that is saying you know guess what this counter-trend bounce is not over yet Yeah, you gave up everything you got yesterday yesterday. We go up with 3.1 million today. You get down with 2 million 30 a bond same type of setup US H No, US J us the Come on, baby USM, okay, USM. We're in the June bond at 30, but you have off so you get the 30 year down to full points plus 18 ticks You've done 397,000 contracts and Yesterday we go topside with 600 637 you can see what's going on. You went up. You're pulling back with light of volume Bottom line it wants higher price right now, and I expect that higher price. However is a move a Counter-trend move the dollar Got up to it's high from last week and gave it up on price This is gonna be interesting on the dollar. Let's see how this baby shakes out It got to 97 829 and right now you're at 97 335 if it gets back inside 96 938 then it's saying hey man, it's not even gonna be able to make a high I mean when I was looking at this dollar it really looked to me like this thing could actually could try to get up to These spike highs that we had up here at the 102 level, so if this is all the dollar wrote This is gonna get really interesting We had the Federal Reserve chim and Powell out here today With the with his testimony in front of the House of Representatives and the bottom line is that he was it's quite clear that You know you're gonna get a 25% 25 basis points hike, which is a quarter which is a quarter of a point and You know the bottom line is that you can expect Them one after the other after the other folks that that's how this I suspect is gonna shake out He did when he was getting pressed he did say we get impressed if the Inflation keeps accelerating would he go up to a half and he said yeah, they would go up to the half I think one of the biggest interest points for myself hearing that not that part of it about the aspect of Inflation in the 70s versus inflation now was the way that he actually answered that he was explaining That the Fed wasn't paying attention at all and other Policymakers weren't paying attention at all to inflation in the 70s and no one really basically, you know It wasn't in their camp to take care of let's put it that way and he was making very clear that it was in the feds camp That they were gonna do something about it. So I suspect that's gonna be done and We'll see where this whole thing goes, but I the Titan is gonna happen out here folks That's the bottom line. Let's go take a look at the oil market. So the oil market is on a Just a one-to-one ABC structure up. We were talking about this yesterday is 117 They've taken it taking the B point out taking it out with volume but when you take a look at this and I was talking with a One of my associates in the office here yesterday and We were looking at the oil contract and then when you take a look at this CL1 we take a look at the generic contract Okay, what you are going to see so so when you do this you take a look at the ABC structure, right? But then you got to go you put this on a generic chat and you want to go look and say, okay Where are the swing points, right? Well the bottom line that said the little market right now is that? Your swing points are basically our you know, we already hit 112 Okay, 112 to 114 is the swing. Well the A to B equals C to D is 117 or a one-to-one What that means that the whole high is gained folks at 147 That's how this is set up because if we launch the 114 Guess what? There's nothing in the way for that 147. This is Tom O'Brien. This is TFN And you stay right there folks come right back