 Good Wednesday morning everybody I'm Tommy O'Brien company live from TFNN 830 a.m. Wednesday morning 60 minutes to go until the opening bell and we got markets in negative territory right now volatility in both directions we just got 80 p payrolls within the last half hour June payrolls private payrolls rising 2.37 million the number they were looking for was about 2.5 million and let's just jump over to the headline why not the revision though to the month of May up to 3.065 million from 2.76 so you add about 300,000 jobs from the main number you missed by about 130,000 jobs from the expected June number all of this ahead of tomorrow's non-farm payroll number 24 hours from right now 830 a.m. We also get initial weekly jobless claims 830 a.m. tomorrow going into a long weekend should be an interesting 830 show it doesn't get more interesting almost then both of those data points going into a long weekend could be historic numbers non-farm payrolls private payrolls here going to guide some of that but the estimate before this number anywhere from like flat to maybe 9 million jobs added last month a big surprise of adding millions of jobs we'll see how that plays out but that number just coming out so yesterday ends the quarter quite a quarter indeed that second quarter check a look check out this chart NASDAQ yeah how about a 30% gain in the second quarter of the year S&P 500 at 20 the doubt just under that number huge huge quarters for those indices of course quite the acceleration market lows coming towards the end of March just for some context where we are right the slide begins February 20th we reached the low by March 23rd we come into April at about 2565 in the S&Ps so you got off the lows but quite a fall from that level and currently sitting about 3078 in the S&Ps jumping around to the action last night we were right around you know within five or so points of where we were trading at last night 530 the slide kind of began we trade down about 30 points from the high of 3093 you trade down to a low of 3062 since then we're up about 16 points you see the pop on 815 with the ADP number coming in you could say strong numbers right 2.37 million plus a 300,000 revision that means we added 3 million private payroll jobs in the month of May again all the head of the data points that we're expecting tomorrow morning in terms of what else we have happening Macy's out with their numbers first quarter loss does not expect another full shutdown we do not anticipate another full shutdown staying flexible prepared to address increases in cases on a regional level 203 a share on revenue 3.02 billion a net loss of 3.58 billion or 1153 a share compared with net income last year of 136 million revenue declined look at that decline from 5.5 to 3.03 and Macy's you could argue was already in trouble let alone COVID numbers pretty muted response I mean volatility but we closed yesterday at 688 we're looking to open right now within about 15 cents at 676 so Pizza Hut one of their biggest franchisees of young brands 1200 Pizza Hut's 400 wet Wendy's restaurants the first one opened in 1962 for this NPC international largest US franchisee they're going BK in a no publish Tuesday before bankruptcy filing Pizza Hut's only young brands could lose up to 54 million in annualized royalty revenue for a company like yum 54 million not the end of the world but what this points to when you have 1200 Pizza Hut's 400 Wendy's and you go and BK as that reverberates FedEx out with their numbers talk about some volatility here getting into the thick of it adjusted profit fell by almost 50% to 660 million or 253 a share revenue slipped to 17.4 billion from 17.8 FedEx though trading higher analysts on average expected a profit of a buck 52 on revenue of 16.4 so how about beaten by a billion dollars on revenue and beating by a dollar oh one on earnings FedEx it would make sense right look at that pop how about up 16 dollars right now you're talking about 11 12% pop on FedEx on their numbers right out of the gate you accelerate for some context to where FedEx has been that's a three-year weekly let's put it on a daily there's your COVID collapse we'll call it from 160 to 88 and again keep in mind we're going to open at 156 right here this morning we're literally going to be in the gap from when the market fell apart from February 21st FedEx shipping everything across the world looks like they're going to be able to compete with Amazon at least for the time being we'll jump up to Amazon why not while we're at it talk about a chart this is just a one-year daily folks there's your COVID collapse in the market you're only at 2100 you go to 16 this morning we're going to open basically flat at 2758 right near all-time highs on Amazon some of the other fang stocks while we're at it Microsoft shares can open a bit lower today making all-time highs yesterday of 20440 Apple shares all-time highs within the last five or six days not quite up at that level though we're going to open a little bit lower this morning at 264 on Apple Netflix shares 455 all-time highs of 474 and how about Tesla shares look at this acceleration yesterday 1079 there's the pop yesterday to 1087 we got midday right now we're trading at about 1075 off a bit from that 1079 close yesterday all right jumping around to some commodities before we jump back to equities check out this crude chart crude just since this morning we're up at 4058 as a 5 a.m. I pulled up as up early this morning about 530 and I pulled open the charts I said ah you know gold had quite a day yesterday we'll jump to that gold's down about $10 at 1790 we were above 1800 crude contract said ah we're above 40 we're coming into eia numbers two hours from right now we get the inventory and since I've been awake we've traded down about a dollar it's been a straight acceleration this is 15 minute bars we go from 4040 at about 530 we just touched a low of 3905 then we've bounced about 40 cents currently trading 3942 mentioned gold there's your gold yesterday we rise to an intraday high of 1804 at 11 a.m. you actually get to 1807 at about 330 and 6 a.m. you go from 1805 currently trading 1790 some context on gold there's your one-year daily not bad year ago 1384 you really want some context look at this run right from 2002 the run begins 1923 you're talking about August of 2011 nine years later in July of 2020 we're coming up to those levels above 1800 that high on that chart 1923 on the price of gold silver for some context got a long way to go to make it back to anywhere near where we were but just for the last year so check out that right gold above the highs silver from 11 to 1857 and as we come into the end of this first segment here's your VIX 8547 that spike high things calm down a bit as this market climbing a bit from those 80p numbers the VIX going for 30 again and let's jump over to the s&p's because we're catching a bit 3082 we're up about 20 points from where we're trading at at 730 we're up about from the lows 12 or 13 on that 80p number stay tuned folks we come back after the break see what else we have on tap for Wednesday trading very back many of our new listeners have heard about the tiger's den the tiger's den is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere hear all of the tfnn shows plus see all of the charts as they happen live and have access to archives of all of those charts you can test drive the tiger's den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you details on the tiger's den or on the front page of tfnn.com 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 a 20 30 or even a 40 bonus on your tiger dollar purchase tiger dollars are good on all tfnn newsletters webinars and trading 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Welcome back folks we're looking at an S&P negative by 11 at 3078 nasdaq just off 27 at 10,119 the dow futures off 149 25,540 other stories out there I wanted to take a look at so we talked about private payrolls in terms of where they came from on this number that just came out hospitality industry the biggest gain 961,000 higher small business overall 937,000 there's your 961 in addition to big gains in hospitality and construction another hard hit industry added 394,000 manufacturing rose by 88,000 on the services side which grew by 1.912 million other big gainers were transportation utilities I mean big gains across the board millions of jobs again all ahead of when we get the non-farm payroll numbers tomorrow. Other stories out there so constellation brands they're acquiring I don't know if I'm going to nail this name Gary Manerchuk empathy wines so this is direct to consumer wine company just started last year as constellation trying to get in the business of delivering more wine direct to consumers while people are at home and you see the market folks STZ is constellation talk about an acceleration on that they trade up to 180 from 174 yesterday pairing those gains a bit we're going to open somewhere around 178 right now on constellation constellation a big investor in canopy canopy growth CGC for the cannabis these canopy these cannabis stocks I mean you almost got to go back to really see the beginning of the slide a three-year weekly we're going back highs remarkable to think almost two years ago now these highs of the euphoria the slide really beginning lower about 14 months ago canopy the biggest cannabis company out there still struggling in about 1616 to see some serious growth as that industry tries to charge it up over the airlines united they plan to add 25,000 flights in august as customers are slowly returning yeah you probably emphasize the slowly in that in that phrase to just 40 of flights that would still bring it to 2019 united and other carriers grappling how to cater to an uptick in demand of course and you had American come on coming out in there I got a little bug in here folks I had a little mosquito that made it into the studio shame on them American coming out and saying they're going to try and fill flights united adding about 25,000 flights whether people are going to come back I can tell you personally we're in Florida I have a lot of family in the northeast not exactly in New York but in the Boston area if I was going to travel up there right now I don't think we have to quarantine but I potentially have a wedding up there in September if Florida's still raging I basically can't go I can't travel I can't even go because it would take a two week quarantine probably if I'm coming from a state with an outbreak but American as I talked about they're the ones as a three-year weekly let's put it on a 20-day hourly to see getting a little bit of a pop to 1343 united a little bit of a pop as well so these stocks trading a bit higher and look at that they're doing it on that payrolls number the airlines really hoping things get back to business we just jumped from 3450 to about 3626 United American Delta there a little bit higher as well on those airlines some mortgage demand out this morning as well falling for the second straight week potential slowdown in the housing recovery mortgage applications to purchase a home fell for the second straight week down 1% from the previous week refinance demand most effective to interest rates fell 2% for the week but was 74% higher than a year ago depends where it was a year ago maybe there were no refinances not sure exactly where rates are when you start talking about percentages off of low numbers refinance demand but that number coming up this morning as well so Hong Kong this could this could really play out in terms of could be a sleeper in terms of a story that really matters Hong Kong makes the first arrest under China's new national security law to the people in Hong Kong up there it is a tough one folks it looks like democracy going to fall to the Chinese as they looked to really solidify power ahead of 27 years ahead of the transition under the new law many of Hong Kong's protests that took place last year pun it would be punishable by law we're gonna get into it is like crazy steep punishments of course it gives Beijing greater control on the city and has already had an impact on the protest movement with prominent activists resigning a drawing from the his pro democracy party and to get into it so check it out the law stipulates the person who acts with a view to quote undermining national unification of Hong Kong with the mainland faces punishment of up to lifetime in prison depending on the severity of the offense under the under the new regulation many of Hong Kong's protests that took place last year punishable by law you know you're talking about passing the law that says basically you can't protest or put you in jail forever that's that's that's just a remarkable statement for China as this plays out one of the many things in the news talk about what else going on in terms of dictatorships good old Putin he's gonna be in there for a while 2036 Russia holds one of its most important so it's in years result yeah not too surprising folks a week long vote constitutional changes in Russia come to a close Wednesday so you got President Xi over in China he's running the show forever president Putin in Russia he's running the show forever voting on changes to include an amendment that would allow Putin to run for a further terms in office potentially lead the country until 2036 not bad 16 year term for the good old KGB Putin running Russia unlike most votes however the one in Russia then ends on Wednesday yeah not too surprising don't uh don't don't be too anxious to see how those polls close all right what else we have going on what else we got going on we're looking uh what do we have up here yeah some of the stocks here in terms of the health stocks Department of Health and Human Services they extended the testing partnership with CVS Walgreens right at Kroger scaling up more than 600 sites across the country that hitting those a bit and Denny's they're going to be out with a public stock offering 8 million shares underwriters expect to receive the option of buying an additional 1.2 the chain of densities proceeds for general corporate purposes denny's good old denny's some smothered and cut covered hash browns down a bit from yesterday we're going to open almost a dollar lower 10 percent from 1010 we're down to 860 you're trading about 905 what else we got going on folks Saturdays July 4th today's July 1st a new 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services all of that covered by those tiger dollars all right as we come into this break SMPs we're going to get green by the open we got 40 minutes and we're trading at 3084 a little bit of strength off 745 this morning stay tuned folks we come back to finish up the program what else we have on tap for Wednesday trading take a look at some commodities we'll be right back back in the day I joined the hotel California in 2006 and like many of you was drawn in by as well as whatever you think about you bring about whatever you focus on growth you see I believe that everything in life happens for us not to us and Tom ignited the fire within me to want to learn how to master the markets so how did I go from knowing nothing about technical analysis to becoming the number one market timer for the SMP 518 and the number two market timer in 2019 simply put I hired coaches with a proven track record which led me to a whole new set of tools that I created to interpret the message of buyers and 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from three o'clock and talk about a pop we trade up in the span of five minutes down the span of basically five minutes but look at the action we're getting right now s and p's technically in the futures just went flat 3090 in those s and p's zoom this back out there we go whoops a five minute chart 3090 we just hit the highest from earlier this morning we're talking about just a few points higher than that and we just got to about 3100 on the dot last night but quite a charge higher strong adp numbers stronger vision i think the market really going to like the fact that hey guess what even in may private payrolls added 3 million now why did we just add 2.37 million if we added 3 million in may we're going to get a revision in that maybe uh maybe jumping around to what else i had up here where were we beyond meat that's what i want to talk about they're moving today they enter grocery stores in mainland china through alibaba partnership good to be in beyond meat today and check out this pop last night from 13398 we were almost at 150 earlier but watch out folks this thing's got some volatility in a big way we were just at 50 would trade to 165 down to below 130 you're going to open today though right at about 146 near that upper range in beyond meat all right s and p's can't hold it down stocks only go up folks that's the deal they only go up no i laugh i kid we got 24 hours until the big number tomorrow be interesting to see if the market just takes this number adp payrolls charges higher ahead of tomorrow's number we get non-farm payrolls we get weekly initial jobless claims at 8 30 and then we get a three-day weekend in the market stay tuned folks we got our man larry pezzavento coming up next we'll be right back larry pezzavento watches the markets 24 7 and now is a great time to try out his daily trading service fibonacci 24 7 larry publishes videos and charts for subscribers throughout the week when warranted and every weekend he puts out a thorough report covering worldwide markets futures commodities and currencies with fibonacci retracement levels possible trading setups and zones and stops and targets for all recommendations included larry applies the principles he's developed over decades of trading while analyzing a variety of markets for subscribers to see for yourself the types of videos charts and analysis that larry provides for his subscribers sign up for fibonacci 24 7 today by visiting the front page of tf and n dot com under the newsletter tab you'll also gain instant access to larry's archive subscriber webinar from earlier this year new subscribers get a 30 day money back guarantee so you have nothing to risk sign up today david whites newsletter the technology insider is focused like a laser on finding the next big things in technology if you would invest in only ten thousand dollars in microsoft in 1986 you'd have been