 Good morning everybody I'm Tommy O'Brien coming to you live from TFN and Thursday morning just after 9 a.m. Eastern time we get the markets kicking things off in negative territory you're looking at an S&P right now negative by 47 points we start that acceleration basically it was a drift lower from 4 p.m. Eastern time things really start dropping at about one in the morning you're at 3810 at that price point you trade down about 40 points from there we've been chopping around at about 3770 for most of the session for the last six hours or so since about 230 basically since Europe's been open chopping around since about 3770 NASDAQ 100 you're off 1.3% the S&Ps are off 1.2% the Dow right now off 1.1% as well and you're looking at a Russell negative by 1.5% jumping back to the NASDAQ 100 real quick you're trading at 11,535 now I talked about on my program on Monday I believe it was I talked about all of these areas of confluence that we have excuse me let me get that back we back this up and confluence folks isn't it an area of a Fibonacci retracement okay that is two different trends you're talking about the longer term trend which is the whole acceleration remarkable to say from a November of 2008 or even you're talking about the beginning of 2009 in the S&P the low you trade up to 16,767 now this is the NASDAQ 100 when I was talking to my dad about this made a great point he pulled out the comp the comp basically almost hit it I'll pull the comp up in a moment the point being though you're talking about a price level of 10,750 that is the 382 retracement folks of the entire move higher and it's almost crazy to say that you're talking about a move from 1,000 to almost 17,000 did you hear that right that's a 17 bag almost almost we made the 16,767 but guess what folks we go from 1,000 to almost 17,000 never say the market can't do a 382 sometimes it just looks so big on a chart but nonetheless we came within we reached a low of 11,068 the 382 is 10,751 you're talking about only 300 points in the NASDAQ 100 from that level right now you're sitting about 750 points away from that level and you put this thing on a weekly just for some context here I just said we're sitting 750 points away from where we are in the 382 this week alone you're down 750 points from the high trading at 11,537 the high was 12,262 keep it in mind folks and what is the comp is that the comp there it is okay so check this out if you pull up the comp which on the thinkorswim platform it's the entire NASDAQ composite dollar sign COMP you do the same exact thing and you put this thing on a monthly okay you got lows now the comp made a low in March of 2009 at 12,065 the comp made it as high as 16,212 I may sneeze here here we go excuse me and check out the comp it basically did it you made it within about 60 points 6-0 is all the comp the 382 is about 10,500 you make it down to a low of 10,565 how about that folks so when you think that a market can't do it okay the NASDAQ's the one that's been leading us down first it'll probably be the one that makes a low first because it's been paying the penalty so harshly for some of the multiples that it's had not assure that it's going to happen but that's the way it's happened previously you're talking about NASDAQ 100 negative 150 points at 11,541 you basically hit the 382 of the entire run he had higher from 2009 if that happens in the S&P's folks 3,200 is where this market would come back to a lot of talk of that 3,200 price point we'll see if it happens but put it on your radar well within reasonable when you got a market right now again let's put that on a weekly okay you're talking about a market that is almost 200 points off its high right now and 3,200 it's less than 600 points from where you are you were trading in this market folks a month ago at 4,200 nothing stopping this market getting from 3,200 we'll see what happens all right we jump to commodities we got crude back and off a bit we'll pull up the short-term timeframe crude makes it to 114.05 yesterday you're back to 109.02 for some context here let's back it up a little bit further when you're talking about a Fibonacci retracement let's take the lows that we had a week ago Wednesday we go to the highs of 114 and you're basically chopping around right at the 382 of that retracement right now you did make it as low as 108.23 we're up back at 109 but you see this area kind of chopping around to 382 we'll see where we go the 618 if we break this area you're talking about 106.25 in the crude contract gold contract this morning there's a little action for you that's an hourly you put it to a 15 minute there's some action for you so that's going to be on some inflation data that we got at 830 I'll jump to that in a moment but we have the gold contract right now up $5.18.22 and we jump to notes and bonds we're getting a little bit a higher price and lower yield the 10 year up 19 ticks how about jumping right to where we were a week ago folks 1808 would we just hit 1808 back it up a little bit further than that that's the area that you sold off from on June 10th maybe an area we bump into a little bit of resistance we back this up further on a daily you see that that is the area that we're talking about where we fell out of bed on June 10th that's the high that we recently had in price on the 10 year just one week ago June 23rd also a pretty critical area when you think we're pumping into an area that was support back on May 9th maybe that area becomes an area of resistance we'll see where the 10 year trades right now you're trading at 1803 and we jump over to the VIX volatility index back near 30 2954 this morning all right let's jump over to the inflation data we got this morning the Fed's preferred inflation measure rose 4.7% in May now they say around multi decade highs that would be true it is not an exact high but it's pretty close to an exact high uh both these numbers though just slightly less than the estimates we're looking for so inflation held at quote-unquote stubbornly high levels in May though the monthly increase was slightly less than expected that's from the number this morning core personal consumption expenditures rose 4.7% from a year ago that is down 0.2 percentage points less than the previous month previous month coming in at 4.9 the market was looking for 4.8 so you have last month it's 4.9 this month they're saying we expect 4.8 we come in at 4.7 on a monthly basis that same measure which excludes food and energy increased 0.3 percent the market was looking for 0.4 percent so you take out food and energy which are more volatile and they are having a huge impact right now but you take out food and energy it misses the estimate as well slightly lower headline inflation however higher rising 0.6 percent for the month that was only 0.2 percent in april that kept the year over year inflation at 6.3 percent just like it was in april march was the 6.6 number which was a record since january of 1982 consumer spending which accounts for nearly 70 percent of all economic activity in the u.s personal income rose 0.5 percent in may there's a lot of numbers out this morning man we're going to be it's going to be an interesting open personally come rise 0.5 percent in may ahead of the 0.4 estimate okay so personal income beats the estimates these are pretty decent numbers right now market really didn't react that much income after taxes and other charges or disposable income declined 0.1 percent on the month and 3.3 percent from a year ago so that is income after taxes and other charges or disposable personal income okay disposable personal income declined 0.1 percent on the month and down 3.3 percent from a year ago spending adjusted for inflation falling 0.4 percent a sharp drop from the 0.3 percent gain in april i mean there's a lot here we'll finish up the conversation okay goods inflation rose 9.6 services 4.7 personal savings rate still 5.4 percent lots of data we'll be right back folks we'll talk to our man kevin hanks we'll get his take on some of the action we'll be right back this to gold owns and operates the largest undeveloped gold project in australia the mount todd gold project this to gold just completed their feasibility study resulting in a 7 million ounce gold reserve this to gold has all major permits approved and has retained cibc capital market assistance in evaluating alternatives and in completing an accreted transaction this to gold trades on the nysc american and tsx under the ticker symbol vgc this to gold executing a strategy to create shareholder value tfnn has just launched their july 4th tiger dollar sale for one week only we've doubled all the bonuses where you can now get up to 20 30 or even a 40 bonus on your tiger dollar purchase tiger dollars are good on all tfnn newsletters webinars and trading services and they never expire for all the details and to get your tiger dollars before the sale 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negative 41 points that's just more than one percent the red nasdaq 100 pretty similar territory negative 135 points negative 1.1 percent right now let's jump over to our man kevin hanks every trading day folks 12 noon eastern time right here on tiger tv the td ameritrade network fast market your host kevin hanks tom white the team at td ameritrade network do an outstanding job of breaking down the day's market action folks they set up hypothetical trade setups you're always talking about defined risk for every single trade that they go through kevin hanks we got some economic data this morning good morning good morning cameo brian well i'll tell you i'll i'll start your viewers out with two things number one inflation is peak and number two we're about between three and four weeks away from confirming that we're in a recession tommy so when we get second quarter gdp in about well between three and four we three and a half weeks from now it's going to confirm that we're in a recession and now with this core pce number coming down personal consumption expenditures coming down uh i think inflation has peaked tommy so that's what this market and the tenure yield is start is trying to wrestle with right now now what's working against the market the u you know the u s dollar trading over 105 that's working against the u s against the stock market but i think this is going to get interesting tommy because stocks are down pre-open but we'll see how long that lasts when uh you when you've got a tenure now moving back towards and soon maybe under three percent tommy you beat me to it i was going to say we're going to get a two-handle today man we're back and i think it's like 3.03 right now uh 3.024 3.02 we'll call it uh on the tenure and remarkable we're right back to where we were kevin i think it was a week ago right is that what it is uh even over above that level almost now but yeah floating with three percent some pretty strong number on the s&p what do you think and we talked about a little bit yesterday we're in the pre-market action we'll find out as you said in about 10 minutes man when we hear that opening about what happens uh we did see some movement on those numbers but i agree with you man i mean they came in point one percent shy of the estimates on the headline of the core number um and it seems like those numbers pointing to actually a slowing of the consumer as well in those numbers we got but the market almost takes an stride kevin we saw 10 points maybe in the s&p but you were down 50 points so pretty marginal move on just a lot of data coming out at 8 30 do you think it's just waiting for the opening bell or i was kind of surprised to see that little movement with kind of the economic numbers we got almost in the same mentality that you were thinking about there well we'll see what when the market i don't know where the market goes uh you know i don't see i don't know yet how the market will consume and digest the information that it's getting but certainly yields are telling you something that inflation is not as scary as it was and you know tony i've been saying for a while and i've been wrong for a short time that i thought three percent on the tenure would be more stingy a level than it was because at one point it blew right through it real quickly but i'm not really surprised that it's been this level has been more sticky of a price than it was before so uh you know this is gonna be interesting how it plays out but you know crude oil is now is is soft again this morning but it's still coming it is still the u.s dollar that is kind of weighing on this market although the u.s dollar is uh flipping back back towards on changer even as we speak it will be interesting to see if uh we do get any pausing of that strength at all um maybe we get and i don't want to call you you know other currencies but man those other currencies in a week the dollar has been strong if we get a reversal in those fortunes uh interesting to see how that plays out with commodities plays on the gold contract and plays out with the general market as well i got a chart of the 10 year up here on the thinkorswim platform kevin pretty interesting you go back to on a price level basically the lows of 2018 and yeah we got quite a tail for the month of june you make it all the way to 1407 but it looks like we're going to finish out the month at about 118 which is interesting kevin just back above where we were on the lows of 2018 so yeah we got quite a shoot higher in a volatile market where you started the year off at about 130 not too surprising maybe you overshoot things a little by a few points uh we got some companies out with their numbers today we're coming into the long weekend kevin uh as traders do you see this thing trailing off i mean we got some big economic numbers today man um maybe you make it through part of the day and people start trying to sneak out for for cape cod and and the hamptons and the likes for the holiday weekend i you know i i i don't think that you know this was the last real significant economic data point that that we're getting this week this is what everyone was waiting for so it wouldn't be surprised to see it trade a little bit this morning and then really take it off tommy that that's the way i think the market's going to be um i think you know you know this is going to play out and it's going to be interesting but just it's always i always start by mentioning where we are on the calendar you always have to be cognizant i think vixx vixx being 29 and a half we'll see how long that holds up at that level uh there you know there's gravity on the vixx this time of year so the fact that we're near 30 is really defying gravity tommy for this time of the year and it shows the volatility that's out there so um yeah i expect values to lighten up here a little bit now into the end of the week and maybe midday you know and then people will start to turn off computers and move away for the weekend but remember we're going into a holiday weekend that's for sure and the vixx pretty remarkable man i got it up here get on the thinkorswim platform and you're talking about this year and i know you know this gave him for the listeners folks i mean you haven't seen a 17 handle on the vixx back to the week of january 10th which is amazing to think about kevin we're halfway through the year and we basically have a vixx that's been holding pretty much above 20 uh since the first week or two of the year absolutely extreme volatility and i would say the vixx has been dead on if if not a little light with the volatility this market has gotten on a continual basis uh we got some companies out with some action already this morning kevin we're coming into of course the holiday weekend do you guys have a lineup for what you're talking about at 12 today yet pretty good name to look at tesla Shopify and lows today so um i'll look at the home improvement space i'll look at online e-commerce and then of course why not we could do a tesla show every day line up is making some type of a new a new cycle even when he's quiet around his birthday so yeah we'll we'll trade tesla Shopify and lows today you guys had a great conversation going on yesterday about amazon man i enjoyed that one tesla another fan favorite Shopify we use Shopify kevin at tfnn as our platform outstanding platform um for small businesses but man quite a pullback from 176 to 33 dollars below where we came into folks the year 2020 which is remarkable when you think about online sales and what's happened to that industry completely well kevin we appreciate you taking the time man we appreciate the education on fast market every day we don't talk to you on friday so you have a great couple days have a great july 4th man and we will talk to you uh in the second half of the year coming up on july 4th July Tommy have a great week we can say hello to your dad i sure will man you have a great weekend weekend as well kevin folks tune in every trading day you heard it three gates straight three great stocks they'll be talking about today we still got two trading days left even though the holiday weekend approaching and yeah tesla man chopping around in the 600s right now 673 tesla gonna open down about 12 bucks well off the highs at 1243 and you heard Shopify man whoo you talk about uh a pullback from 176 to 33 dollars stay tuned folks we'll be right back for the opening bell at time of booming inflation we are purchasing powers eroded there's no better place to protect your harder and money than ain't gold this the gold's flagship asset is the monk cod gold project in the northern territory of australia this is australia's largest undeveloped gold project we are talking a world-class gold project in a tier one mining district this is a large-scale low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction this the 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we're above where we were at about four in the morning you're trading 11,575 the Dow is off 1% even at 30,674 and the Russell negative by 21 as a man basal Chapman says the day folks very young the day very young indeed crude backing off on that open crude sees a 108 handle yeah you just snuck into a 107 handle briefly for crude you get the gold contract excuse me spike in the 1825 you're at 1802 right now and we got the 10 year what are we talking about for a yield we're going to see a two-handle folks coming into the July 4th holiday where 3.02% hold on to your hats we could see it we'll see with the way this market is moving and with how fast it moves occasionally two basis points in the 10 year we usually get that type of action one way or the other over the span of 30 minutes to an hour we'll see where it moves okay what else we have going on folks head on over to the front page of TF and we just talked about gold you you trade gold folks you better understand what's happening with the dollar index you better understand what's happening with currencies and in this market as well okay you heard Kevin Hinks talking about it we have the tiger forex report folks okay as in Kevin Hinks talking about when this dollar when the bonds when that yield maybe pauses you don't need to trade forex to benefit from the information Teddy is putting in here every week folks he just kicked this thing off on Monday the tiger forex report he's got a weekly report out every Monday we've been talking to Teddy we talk to him every Wednesday at 40 past the hour you can always check out those interviews as well folks if you head on over to our youtube page just search TFNN you'll find our channel you can see all the videos we post we always break down the interviews themselves for their own video you can watch those segments very informative and he is kicking this thing off it's $97 a month folks as a launching promotion okay you can become an inaugural member you lock in 25% off forever that 25% savings stays with you forever as long as you subscribe I think it brings the total down to $72.75 I gotta pull it up exactly but you get 25% off the $97 price and you still get a 30-day money back guarantee so please check it out he put out a great report this past Monday he's got another one coming up when we get back from the July 4th holiday on Tuesday and he breaks down folks he puts the 30-year t-bond in there he puts the crude oil market in there he puts the dollar yen in there the dollar index the euro dollar all of these very important especially if you train commodities and like check it out and that special will only run for the month of July as it's running right now into the month of July so it's a one month launch you become a charter member to teddy service with the tiger 4x report and lock in those savings check it out and what else do we have going on folks the tiger dollar sale this one only runs through the weekend and it's Thursday okay it ends July 5th the tiger dollar sale that's Tuesday when we get back you can get up to a 40 bonus on your tiger dollars folks if you're out there listening and you're a subscriber to any of our newsletters please buy some tiger dollars apply them to your account and they're used for all forward transactions if you're thinking about signing up for anything check it out the front page that's only running a few more days so buy some tiger dollars maybe you check out the tiger 4x report when you do you can still get a 30-day money back guarantee folks you spend those tiger dollars you sign up for any service that you'll you want to try a tfnn we'll refund those tiger dollars if you're not happy after 30 days so check those out on the front page of tfnn two great promotions tiger dollar sale only running through this weekend and the tiger 4x report kicking off this week with our man teddy keg stat all right let's talk a little bit of inflation so the markets are singling uh that yeah we might have an inflation victory that's the opinion piece from john authors weakening economic growth has taken over as their biggest concern i would agree there that's a lot of what kevin was just talking about i had this article pulled up pre-show going over the markets thinking about what i was going to talk about maybe kevin read this article too i don't know if he did uh but he made some singular similar arguments not sure he was using the same data he was using some of the data out this morning now this article prior to the data we got this morning okay but it does have some important data in here i wanted to take a look at so first we talk about gdp taking a look at gdp we got the third quarter uh excuse me the third revision to gdp yesterday for the first quarter negative 1.6 percent when you put that on a chart folks okay there's your covet ridiculous pullback uh as you see we got a negative number and they don't happen often folks and we just got a 1.6 pay attention to it because look on this chart okay very seldom do they come out on negative territory and we are in one of those periods of time right now with huge exception of covid this was the weakest us growth since the spring of 2009 there's your acceleration that you saw there in the spring of 2009 so as mr author's rights in his opinion piece had the effect of seemingly eliminating concerns about inflation even though the battle against it has barely begun well said i like that it's we just got the numbers this morning right we're right near record highs now let's get into some of the data that he talks about though in here five year five year break evens okay the five year five year forward break even which aims to capture this is the part i'm reading right here check it out okay it aims to capture the average inflation for the five years starting five years hence and is the measure most closely followed by the fed has now dropped below its level for much of 2018 did you hear that below where we were at in 2018 before the pandemic fast approaching the two percent number the bond market is saying inflation is no longer anything to worry about check out that pullback folks okay the problem is an inflation forecast have shifted because growth has shifted now you get into when the fed may start easing this is an important one folks because man time flies it's already june 30th tomorrow is july before you know it we're going to be forward some of those rate hikes that are already priced into this market rightfully so okay the easing cycle if you believe the fed funds futures market this is great stuff so pay attention will be well advanced by the end of next year did you hear that the easing cycle will be well advanced by the end of next year the market likes to get ahead of hiking cycles and easing cycles if the easing cycle is going to be well advanced by the end of next year when's the market going to start pricing that in not today but at some point it will the chart shows the number of 25 basis point hikes implicitly priced in for each fed meeting until early 2024 over the last week the belief in a swift start to easing has gained hold and that sadly is because of the economy that might need some easing unfortunately for the recession hit that it is possibly about to take so we have the blue line which is what the market was thinking a week ago june 24th and we have the black line which is the number of hikes that are priced in now what you have is you have hikes coming through about april but then check it out folks over the next nine months you have some hikes but then what do you have you have almost a year of easing that pulls things back more than two percentage points right now we're talking about eight hikes into march of 2023 and meanwhile you're back to five and a half so that would be what two and a half quarter points so that's about 50 to 75 basis points of easing coming at you next year that happens things change folks okay we got a couple other things we'll talk about in this article coming back dollar index paying into that one as well commodity currency is very important of what's going on right now folks that's why I keep talking about that tiger forex report stay tuned we'll be right back are you in the market for buying or selling real estate in the bay area including the surrounding st petersburg tampa and clearwater markets tiger real estate llc is a firm that has extensive experience in the tampa bay area whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property tiger realty has the experience across all areas of real estate in the tampa bay area to help buyers and sellers make the most informed decisions across all price levels from the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating tiger real estate can help you make the best decision when it comes 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designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services llc this program is brought to you by vista gold traded on the nyse american ntsx under the symbol vgz welcome back folks we got a little bit of a sell-off going on right now talk about a drop on the open the s and p is now negative 1.7 percent just like that nasdaq 100 negative 2 percent man dow negative 535 that's 1.75 percent the russell off 2 percent as well bitcoin watch out folks bitcoin an 18 thousand handle coming into the long weekend always a dicey territory on the weekend man we saw that acceleration down to 17 thousand briefly and checking out the chart if you're talking about an area of support and resistance we're blowing through it folks this is the area that future starting trading at if you don't think that's an important area i would disagree with you that is the moment the futures began tradable on the cme december of 2017 five years ago almost remarkable that it's been five years you trade up to 70 000 we are now breaking below those levels in terms of 20 650 is the high there we're at 18 000 check out those last three months folks 47 000 was the print on bitcoin just in the month of april we're still in june and we are finishing basically at lows 18 903 how about those three candles now the original run on bitcoin goes from about 70 000 we make three huge candles as well down to a low of 32 000 okay so that is what 37 000 about yes 37 000 was the a to b leg you take it off the high of 48 000 folks that is an a to b that brings you down to about 11 000 10 000 is a nice round number that's where you kick things off in october and maybe that's where finally things begin to capitulate a bit at about 10 000 i mean you see an area that we chopped around in for the better part of 2019 and 2020 yeah we got a wide range there down to 4200 up to a high of 14 000 in 2019 but all things considered you broke below this 33 30 000 level i was talking about it when it was at 30 folks i wouldn't be touching until it gets to 10 you know maybe you get back above 30 and you start building support and you can trade it again but you're in no man's land here and now that you're below where this thing started trading in futures be careful out there folks be careful in a big way excuse me okay let's jump around to some of the other equities that are moving this morning um yeah and talking about finishing up this article excuse me they're talking about the yin they're talking about the dollar they're talking about the ecb in here uh continued dollar strength the key component to this is the yin paul's remarks can be taken to show that he wouldn't be happy for the japanese authorities to intervene and strengthen their currency and it would certainly be difficult for any major central bank to do so such a thing without coordinating with others uh there's a lot at stake here folks but they're talking about look at the economy look at the potential for potential fed easing uh and inflation yeah we're right in the middle of things but that's not what the market is looking at right now folks the market is looking at a print of 1.6 percent declining gdp for the first quarter okay let's jump down some of the stocks moving uh restoration hardware they were trading down about seven eight percent pre-market they lower their guidance let's see how they're trading right now probably not helped by a market selling off yeah you're off 10.7 percent some of these equities man whoo uh pre-covid you're at about where we're at right now you come into 2020 at about 215 you're trading right now at 212 quite a monthly decline and there's your acceleration so they come out with a revision last night of their forecast they drop on the open as well you're down to 211 right now in restoration they lower the outlook for the year anticipating community consumer demand for its products will continue to soften in the back half of the year and i believe i saw in here let's see the uh yeah because the way they summed it up here i think was deteriorating economy and a slowdown in home sales that's not going to be just them folks um if they're talking about economic indicators and a slowdown in home sales always interesting though when a company sort tries to say hey it's not us it's the economy right sometimes it's going to be the company and they're going to be blaming the economy this situation i'm not sure that's sure that's the case with the numbers that we're getting with the declining gdp uh this is what to be careful of folks some great conversations in the den yesterday talking about multiples right this market can become very expensive again if we start to get revisions on earnings those are the types of revisions right there we got restoration hardware dropping 10 over the night after they lower the full year financial guidance be careful all right what else do we have happening constellation they beat estimates by 14 cents 266 a share revenue above estimates upbeat full year forecast yeah they say they added one percent when i pulled it up this morning it was actually a little bit lower yeah and went down four percent by the time i pulled it up they were actually lower pre-market on those numbers now you got the market trading lower this one's been one of the strongest equities out there this year i was talking to kevin hicks about it yesterday i mean look at this chart all you've been doing is chopping around in a consolidation area between about 211 and 240 if you're looking to get into constellation uh maybe this market trades a little lower it takes constellation with it you see the consolidation it's been in about 210 212 somewhere in there if it gets to that level maybe that's an area you could start to nibble on constellation still though 20 bucks from where we're at right now strong numbers and they're getting punished man in a big way as this market is down about almost two percent of itself constellation down about four percent always worrying when you get something like that right as in you get beaten by four 14 cents a share revenue above estimates upbeat for your forecast they're a little bit higher pre-market and they sell off on the open be careful and walgreens boots out with their numbers they were a little bit lower as well let's see how they opened up down four percent pretty similar action on pretty strong numbers as well they come out with the numbers this morning you sell off a little bit you make a new low on the open walgreens boots 96 cents a share four cents above estimates revenue beat as well they reaffirm the full year guidance these are not misses folks okay not in this environment at all they beat on revenue they beat on earnings and they reaffirm their full year guidance with single digit low single digit adjusted earnings growth and the market's like four percent we're taking it from you this morning you should have done better it's a dicey market man because that's pretty decent numbers when you talk about everything going on and the surprises that we've seen in this market all right what else we got going on how about amazon they they did do a great segment yesterday folks on amazon uh this is talking to me yeah sure is they did a great segment yesterday on fast market at 12 on amazon not talking about this okay and i do have some amazon retirement account folks there was one analyst that came out yesterday talking about that amazon web services is going to have a three trillion dollar valuation itself at one point the kicker of that one was that they didn't say when well i could probably say the same thing folks amazon's going nowhere eventually it'll be worth three trillion dollars eventually aws will be worth three trillion dollars uh i'm not sure when though that's the kicker nonetheless i am a bull on amazon in the long term especially when you get these types of pullbacks and this is the part of reason why you know they can spend money on some of these content deals and this is why you've seen netflix pullback so sharply this has been one of the hampers to disney in terms of the money and the profitability now amazon just spent i think was one point six billion dollars let's see as they scoop up uh uefa deal for coverage in the uk yes so let's see the value may be about 20 percent higher than the previous cycle and the number is not out there but that's up from about 1.4 billion euros 1.5 billion dollars so you're talking about maybe 1.7 billion euros so 1.8 billion us dollars now they had just pulled out of the competition for the indian premier league which ended up going to disney and one other company over there i forget the reliance was it one of those but those went for like six point seven billion dollars okay amazon though they're in the business man and sports content there's going to be nothing like sports content for some of these streaming companies folks and they're going to have to pay for it because the sports know it stay tuned folks markets we're basically at session those s and p's off 1.7 percent we'll be right back sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts 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 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 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think or swim for more information just click the think or swim banner on the front page of tfnn.com welcome back folks you got the markets basically a session lows right now folks interesting coming into a long weekend right now it's thursday as kevin hanks was talking about that was the last big data drop we get oil numbers at 10 30 crude oil inventory numbers at 10 30 out but we're basically past the last economic number and not a good indicator when you get the s&p's down 70 points not sure it's going to be a cascade to disaster territory but you're talking about an s&p now off 200 points from where you were trading at just yesterday let's jump around to some of the fang stocks man we're talking about amazon you're now under 104 that's but back to back 5% days pretty much for amazon you were just trading at 114 on tuesday let alone the 118 high over the weekend coming into the monday open when we traded up to 118 percentage wise just a huge pullback right now recent lows you're right there man at 10126 is the low just recently we were down there at about 10143 what is the exact 10143 i believe amazon trading lower we jumped some of the other stocks tesla there's an article up there on bloomberg about tesla talking about a wipeout of i think 350 billion dollars in market cap this quarter alone tesla negative 1.8 percent today s&p's right now approaching that level you get the nasdaq look at this nasdaq's off 2.4 percent s&p's off 1.8 percent we jump over to the big dog apple down 3 percent for apple shares you jump to microsoft shares down about 2 percent at 255 the low for microsoft 241 yeah this is getting a little dicey folks s&p's off 70 dow off 560 right now let's just see our curiosity again as i was talking about that comp nasdaq composite low 10565 remember the 382 of the entire move higher folks from the 2009 lows to the covid highs a 382 retracement 10500 we're 400 points away from that you're down 275 today you know i talked about it before we'll wrap up the program as we come into it folks put those numbers on your radar and make sure that you're at least prepared if the market goes to that level that you're okay because there's nothing stopping this s&p from hitting 3200 folks you got the 382 of the larger move the 618 of the covid acceleration from 2100 to 4800 and the nasdaq comps basically there so nothing stopping the other indices from getting there as well all right folks thanks for starting your day shipping interesting ones stay tuned don't forget about the tiger dollar sale running this week only folks dazzles up next have a great thursday