 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, coming to you live from TFNN, 9.06 AM Wednesday morning. We got about 24 minutes to go until the start of trading and you have markets pulling back a bit from the acceleration we saw yesterday, S&Ps right now, you're negative by 17 points trading at 4608 yesterday. Talk about an acceleration, we trade higher into the market, you open and then at about 1.15 PM Eastern time you have the S&Ps charge up about 40 points right into the close, you back things up, we're pretty much right where we were coming into the opening value yesterday, 4607 in the S&Ps, now remarkable considering some of the geopolitical de-escalation talk paired back a bit, words not mattering as much as actions may, but nonetheless markets holding up pretty well, everything in context, you had some really remarkable moves yesterday, especially within some of those equities in particular, we'll jump around in a moment. NASDAQ 100, you make it to 15,268 at the close yesterday, we're trading right now, down about 6 tenths percent, 15,142, you get the Dow backing off a bit, still above 35,000 at 35,064, you got the Russell negative by 8 points as well. Bitcoin, we'll talk about Bitcoin, talk about some hacks man, I think I got 600 million up there is one headline, I think there was another headline out there as well, but nonetheless Bitcoin holding up relatively well at 47,420, there was a time when the news broke of a $600 million crypto heist that maybe that would hurt the crypto market, it's just not happening right now, which says a lot, Ethereum holding up pretty well at 3417 right now, you got crude catching a pop from the de-escalation yesterday, just like the market back to where we were, you got the crude back to where we were man, talk about $10 down and $10 up, we'll be talking to our man Teddy Kegstad at 40 past the hour, he loves talking some forex markets, loves talking some crude in particular as well, we'll get his take and he got gold rebounding as well, really remarkable, you think about the recoil man, talk about an overreaction yesterday, the market, you can see just waiting for anything to hint that talks could lead to an eventual ceasefire, which could lead to a de-escalation over there, not sure that you really got it yesterday, even if the market was looking for another one thing that didn't give it all back just yet is the moving bonds and notes, you see the moving notes, you're talking about where a full point above where we were yesterday, meanwhile, you get the markets right back to where we were, we got a yield right now of 2.4, 2.4%, the yield on the 10-year, pretty remarkable considering you were sitting at about 1.7% when the war began about five weeks ago and we jumped over to the volatility index, we were dealing with lows we haven't seen in about what, couple months maybe, 1867, you take a look at the VIX, yeah, going back to about January 14th, just over two months, two and a half months or so, since we've seen these levels on the VIX, we pair those gains, 36 down to 1957, you're positive, but just by a bit on the VIX. All right, let's jump around to the fundamental news, we got some jobs data, we got private payrolls, 455,000 jobs in March, advance was broad-based across firms by size and sector gains in leisure and hospitality, led all service providers, revised 486 in February, market was looking for 450, so they pretty much pegging in there, service providers, 377,000 in March, right, headline number was about 450, service providers almost doing it all, that's 160, I'll do it again, 161,000 in leisure and hospitality as part of service, other sectors like professional and business service and healthcare also advanced, payrolls at good producers increased 79,000, that's a jump in manufacturing, companies with fewer than 50 employees at a 90,000 jobs, large businesses 177,000 jobs, that data coming ahead of non-farm payrolls on Friday, really remarkable that we march on, we're gonna get non-farm payrolls for Friday, we're gonna get wage data, that'll be important, we get CPI coming out, thinking a couple weeks after that, nonetheless, we march on, we're gonna get a full month of data yet again, and guess what, we're coming into earnings yet again, right, it's March 30th, tomorrow's the last day of the month, April 1st kicks things off on Friday, and just like that, the quarter begins within a couple weeks, it's gonna start all over again, and it's gonna be interesting again, to see how these companies, meander, navigate such an environment of inflationary pressures, wages rising, supply chain issues, persistent, persistent, to say the least, especially over the last three months, right? All right, let's jump around to other articles I got pulled up here, we will jump to Walgreens, so Walgreens, they're gonna turn to robots to fill prescriptions as pharmacists take on more responsibilities, they're opening a robot-powered micro fulfillment centers across the US to fill customers prescriptions, folks, it is happening, okay? You're just gonna see this as a constant, constant rollout, unfortunately, they're gonna be replacing workers here, no matter how you shake it out, and as a society, we're gonna have to meander that, man, because you're gonna be able to run multi-billion dollar businesses with robots pretty soon, I mean, Amazon, there are so many workers probably in the Amazon chain that'll probably, it's not a matter of if, folks, it's just a matter of when, and if you equate that, you know, if you really internalize that, that it's a matter of when a lot of employees get replaced by computers and robots, we're gonna have to figure out what to do, because there are a lot of people, unfortunately, who are doing jobs right now that are replaceable by a simple computer and robot, and that is not good as the technology is really catching up. By 2025, as much as half of Walgreens total prescription volume could be filled at the automated hubs, it's quite quite a number, they're gonna open 22 facilities across the country, folks. That's two and a half years from right now. Okay, each robot can fill 300 prescriptions in an hour. What is that? That's that's five every minute. That's one every 12 seconds without a break 24 seven. Not hard to imagine why they're going to do that half of Walgreens prescription volume by 2025. Automation could help Walgreens focus on ways to differentiate from online pharmacies such as Amazon old pill pack and CVS which owns Health and Chura Etna and Pharmacy Benefits Manager Caremark. Yeah, I imagine they're all going this way, folks. So the Robot Powered Center in Northlake 36 miles northwest of Dallas offers a glimpse of the future 220 workers. Okay, you have a handful of licensed pharmacists and 35,000 prescriptions are filled at the facility and eventually that number is going to increase to as many as 100,000 daily. Yeah, it's going to be a shift and we'll see how society meanders that one, man, because it is coming. Alright, jumping over to mortgage rates. Excuse me, refinances down 60%. Not surprising folks. You know, if you're looking to refinance get it done. That's the bottom line. The average contract interest rate for a fixed mortgage confirming loan balance 4.8% from 4.5 refinance fell at about 15% for the week and down 60% from a year ago home buyer mortgage demand rose 1% for the week but down 10% from a year ago should not be surprising with where rates are going cannabis. So some of the cannabis stocks have been accelerating. We'll jump around some of those real quick canopy growth. We have some canopy in my newsletter, rocket equities and options. We're fortunate to get in there. Just prior to some of that acceleration, we'll back it up about 10 days. I think we were in there maybe Tuesday or even Wednesday. Now, let me see. Where were we? Yeah, I think we got in there Wednesday and the acceleration began Thursday today. We'll finish this up when we come back. House panel hearing on federal legalization bill. As we all know, folks, it takes a while for something to become a bill and a law. And this is the first step. I'm sure it's got a few hiccups along the way. But nonetheless, check out those stocks. 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 seven 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 seven newsletter today tfnn.com educating investors What's separating you from the most successful men and women on Wall Street? That's right. Information. Having all the information gives us the perspective we need to place the right trades at the right time. The TAS profile scanner is the premier market profile based scanner powered by its acclaimed task proprietary algorithms. 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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 tick 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. Back folks, we have the S&Ps down 15 points right now and Aztec 100 negative by 87, you got the Dow off 1 0 2. Gonna chart a canopy up here. Now be very careful on these equities, folks. There's nothing to say that they have found a bid just yet. There's been a few times that you've had some bounces here. I'm going to put it back on a daily. Was that run back in November? Maybe that had to do with some legalization. I remember when New York past things, um, they catches a bid. There been a couple times, but each time it's been lower prices. This one we will see, though. On Wednesday, the House Rules Committee set to hold hearing on the Marijuana Opportunity Reinvestment and Expungement Act, which would decriminalize cannabis at the federal level. The bill, better known as the More Act, would also create provisions for banking and consumer packaged good sales. The measure is expected to head to the full house for a vote on Friday. It's got to go to the House. It's got to go to the Senate. It's got to go to the President. President Biden, actually one of the few Democrats, not even sure really where he falls on this, unfortunately, because I think it's something that should be a no brainer, folks, in terms of legalization. But that's not the case. And you need the Senate. You need the President. There's a lot in here that could, um, seems like we all know politicians, right? Everybody can find a problem somehow. And there is a lot in here in terms of expungement. I believe in all of it, folks, all right, people who are caught with small amounts of marijuana for personal use that are not violent and involved in gangs. It's the most victimless crime I can think of. And there's no reason why their lives should be destroyed over it. And many people's lives have. It almost sounds insane that that's the truth, but it is. Um, so we'll see if that happens. Now, uh, Wednesday. Yes. So here's what they're talking about, right? I mean, uh, the House votes basically symbolic and estimates Democrats would need at least 10 Republican votes in the Senate to overcome a filibuster and pass a candidate bill. However, the House debate could prove insightful with midterm elections looming this November. You know, I just don't understand how an entire party is against marijuana legalization in the year 2022. And, you know, you talk about police needing, needing the ability to do their jobs, folks. The last thing that we should be paying cops to do is to spend their time locking up criminals for low levels of marijuana possession. And then you think about the facts that not only do that, then we spend money to put those people in boxes called jails and prisons. We spend that money as well. And then those people are hurt for the ability to get a job so they can't participate in the economy. Just makes no sense whatsoever. Uh, nonetheless, that's going to happen today. So it'll get some headlines out there. Um, and we'll see what happens, but it's going to take some Republicans, and I'm not sure that's happening right now. We'll find out, um, but nonetheless, it starts today. So here's some, um, now here's what I'll say as well. You are getting bounces, but I've said it before. Bounces on small numbers, percentages on small numbers can be deceiving folks. You've had some big bounces in percentage terms. But boy, you are down from about 60 bucks, 5650 this year. And you were back up at that area, folks, as far back as October of 2018 in the 59s. So a little tough to get excited in this. If you are trading it, um, you better be aware of the facts that it can probably go to zero at this point. Anytime you're dealing with a chart that goes from 56 down to five over the course of a year, you better realize that if you're in this equity and you don't put a stop in there, zero dollars is possible. Um, eventually they will catch a bid, but not sure that's going to happen just yet. Let's jump around to some of the stocks that were really rocking yesterday, man. Boy, some of the growth stocks, etc. I mean, Roku was up from 128 to 138. You're up 139 almost, 140. You had some huge moves. Uh, DraftKings was a reminder because they've been beaten down so bad, like some of the cannabis stocks, they really accelerated higher from 1850 to almost 21 percentage term. Big numbers, you're backing off a bit. Uh, many of those stocks, I mean even Zoom, had quite the acceleration, right? A lot of talk in the Tiger's Den yesterday about ARC because, yes, some of those stocks in particular, man, they were on a run. ARC going from 65 to 72 from Monday's blow to Tuesday's high. That's a 10% acceleration from that number, folks. Uh, a lot of stocks in there, but guess what? We'll give it some time because you take a look at this NASDAQ 100, man. You put it on a daily to see the pop we have seen and boy, that is an acceleration, folks. I talked about it yesterday. We had a 12, whoops, we had a 12,900 handle and, uh, yes, we were up to 15,100 now on the NASDAQ 100. All right, let's jump around to some of the other headlines I have going on for the day. Stocks making moves by Antec. They're up 6%, significantly better than expected revenue profit for the quarter reiterated its prior vaccine revenue guidance for 2022. BNTX is their symbol. One of the vaccine stocks. Talk about volatility, man. Uh, you're going to pop about nine bucks today, but boy, even from where we were just in November at 360 at 464, you're down at 183 for buy on tech. And yeah, I mean, remarkable that you're back to where we were trading at almost a year ago, April and 2021, before that whole run higher. And you take a look at Moderna the same deal. Now it's Pfizer and buy on tech, but similar action in terms of right back to where we were a year ago, all of these stocks really getting ahead of themselves in a big way. Five below out with their numbers lower in the pre-market following a mixed quarterly report beat estimates by a penny, 249 a share, but both revenue and comp sales below analyst forecast. They were talking about five yesterday on fast market. And, uh, yeah, you're going to drop about eight bucks. This thing said some real volatility too. You take the COVID lows up to the high. We touched the 50% that low about 143. We're trading at 162 right now, uh, just below the 382 of that full run that we had. Now the low from October 4th, I was looking at yesterday, 165. So we're actually going to open below that for five below on their numbers back to a 15 minute. And there's the move on their numbers down to 156 conference call beginning as I came on the air for that equity. Restoration hardware lower in the pre-market after the high end furniture report, uh, lower than expected revenue for the quarter profit came in slightly above. They announced a three for one stock split stock splits in vogue. It seems restoration hardware. This thing, uh, there's some volatility from 384 to 355. Now you take a look at this thing and to give it a full context of the chart up here. Really interesting action when you look from COVID lows of 73 bucks up to 744. We're trading right now at 355 the 618 you're looking to get in this thing 330 or so. Uh, maybe we'll pull back with training at 355. Not sure we get there. We're down from a consolidation near 744 for the better part of last year. Strong equity, quite a pullback. I like that 618 and interesting, right? I love the Fibonacci levels. That was quite a buy as it touched that 618. We bounced a bit. We're backing off a bit as well for restoration hardware on their numbers. Lululemon, athleisure. They started the athleisure trend, man. Uh, and it's, it's flourishing up 7.4 in the pre-market despite a quarterly revenue miss adjusted quarterly profit of 337, nine cents above estimates, upbeat guidance for 2022 and a billion dollar share buyback program, upbeat buy upbeat guidance. Markets always loving that and you're going to pop in a big way. So you're going to pop to about 370, 370 on this chart. There you are. Now this is coming up to kind of the area of the end in 2020 in about putting it on a 15 minute chart. There's a pop for you last night and you're trained a little bit higher as well to 370 on their numbers. Lululemon, athleisure, upbeat guidance. The world has changed, folks, athleisure, a lot more relatable in a lot more facets of life forever moving forward. And Lululemon started that trend and it is not stopping anytime soon. All right. Let's jump back to the markets as we come into this final break before the opening bell. We get the S&Ps right now down by just 12 points. We've got a little bit of a bid since about 815, 820 this morning. You're up from 4602 to 4613. You back things up. We're at about 4616 at about 730. We're going to open the market when we get back in three minutes, folks. All the markets in the red crude up $3 and 29 cents. You got gold up 11 bucks. Stay tuned. We'll be right back for the opening bell. 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Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade charts today by visiting tfnn.com. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of tfnn.com. Welcome back, folks. We've got markets open and we've got markets catching a little bit of a bid. You've got the S&Ps only negative by single digits. You think about where we've come from in this market from the lows of March 15th, folks, to where we are right now. If you just consolidate for a bit, I think a lot of market participants will be pretty happy. We'll see if that lasts, as in we commit to some pretty important economic data on Friday. But even seeing the market down 10 points right now, you put this thing on a daily to remind you where we've been, where we've come from. March 15th, you had a low of $41.29. The S&Ps are trading up almost 500 points from that price level 15 days ago. Talked about it on my show yesterday. A healthy pullback in this move would just be to about $44.35. Now, that's an interesting price level when you think the only real red bar, and I say real red bar, right? We got one on March 21st, yes, it's a red bar, but man, that's a tiny body in a red bar. The only body that is of any significance brought us back to a pretty similar price point about $44.35. Folks, that's 180 points from where we're trading at right now. But that would just be a 382. We are experiencing high volatility in this market. We got non-farm payrolls coming on Friday. We're going to get CPI after that. Hold on to your hats, folks, as the expression goes. All right. You've been hearing us talk about it, folks. I encourage you, if you haven't yet, we have a lot of great Tigers and Tigresses in our new Tiger's Den Trading Room over at Discord. I encourage you to check it out on the front page of TFNN.com, folks. It's $1 for the entire year. The only reason we're really charging money for our customers, for our subscribers, for the community of TFNN Tigers and Tigresses, is just make sure we're not getting constant spam in there, constant people signing up with a number of different accounts with email addresses. We charge a dollar. We're able to verify people's identity. That way, we keep it real, all right? It's going to be a real community of traders, folks. It's an awesome place already. We've got a bunch of people in there. One of the cool things about Discord is that it's an outstanding piece of software for what we're doing, especially. A lot of great possibilities in the future. We're going to be doing some cool stuff with it coming up. But it's also something you can use on mobile and on tablets. So outside of even market hours, we've start seeing the den getting a lot more action. Maybe some nights, you'll see some Tigers, Tigress is in there chatting. Maybe they're just sitting on their tablet or their phone, sitting on the couch, watching the market, chatting about the overnight action. Maybe some fundamental news, maybe some Europe news, some Asia news. And nonetheless, people are in there at about seven in the morning as they start chatting about the market coming up until at least the close. But check it out, folks. It's a dollar. You can't go wrong and check it out. It's brand new. We've got a lot of great Tigers in there right now. And yeah, it's pretty awesome. Check it out in the front page at tfnn.com. All right, back to some of the stocks we're moving. Micron, out with their numbers, 214 a share, 17 cents above estimates. Chipmaker also reported better than expected revenue. Yeah, data center and smartphone chip sales showed strong growth. Micron upbeat revenue forecast for the current quarter, the chip stocks, man, don't sell on those chip stocks. MU, there's a pop for you, you were just trading in the 60s. You're trading at 84 right now up 2.6% as you get the market pretty strong on a day following quite the acceleration. Chewy, how about down 13.5% for a miss? The pet product seller lost 15 cents a share. The market was looking for an 8 cent loss. Labor costs and profit margins shrunk. It's going to be interesting to see, folks, if you're selling physical products, right? You got to make up for your costs. And man, if you have trouble transferring those costs to your customers, good luck to those profits. Chewy, down 12% kind of just in this consolidation you've been in for the better part of this year between about 50 bucks and a low end about $37. We're right in the middle of that consolidation right now at 45 bucks for Chewy. WeWork has added an additional row of chairman. That's just, I just kind of chuckle that we work. I'm going to check out that movie that's out, right? Excuse me, is that on Apple? One of them. I mean, that's going to be a Harvard Business School study for sure in terms of how SoftBank just allowed that company to work them to the tune of that founder stepping out with billions even though it's basically a failed company. And yeah, so we got Pearson, their lower private equity firm said unable to reach an agreement with Pearson on a possible takeover bid and Wayfair is lower as well as they get to downgrade to sell from hold, predicting a negative impact of the Fed tightening in the edge of COVID-related stimulus Wayfair is so expensive, man, that's my history. Take a look at this thing. Our man Basil Chapman is next with the Tiger Technicians Hour folks. He always talks about the symmetry of some of those cup and handle moves. And boy, this is pretty symmetrical when you talk about the upside, the cup formation and guess where the bottom of that cup rests folks, 21 bucks. Not sure you're going back to 20, but boy, you're down from about 300 to 121 right now. And they are in a very competitive business folks, online sales. Very competitive business to say the least. So be careful on that one. All right, jumping around to some of the other headlines I had up here. Let's see what we got here. Yeah, let's jump over to the crypto one we were talking about to kick off the show. Not familiar with all these networks, but hackers, they stole about 600 million from a blockchain network connected to the popular Axie Infinity online game in one of the biggest crypto attacks to date. Computers known as nodes operated by Axie Infinity Maker, Sky Mavis and the Axie DAO that support a so-called bridge software that lets people convert tokens into ones that can be used on another network were attacked. Excuse me, the hacker draining what's known as the Ronin Bridge of 173,600 Ether and 25 million US dollar coin tokens and two transactions. The breach happened on March 23rd, only discovered Tuesday. It is the wild, wild West folks. And they were chatting in the tiger's den today saying great stuff, like how does this happen, right? I'm hearing, I think the comment was, yeah, from our man, Dan, have seen reports of about a billion dollars of crypto hacked and stolen the last 48 hours. Does digital money really have a chance? How do they account for that on the chain? I don't know. I do not have a fundamental aspect understanding of the crypto to answer it well enough. When you say, how do they account for it on the chain? I think that they still exist. They are just now held by somebody else on the chain and that is reflected in the chain, I believe. To the question is, does digital money really have a chance? It seems to me that if banks can figure out away, because we don't hear stories, right? About Wells Fargo, about city getting hacked and people's accounts getting drained. So it seems like it is possible with enough money for a multi-billion dollar corporation to spend on that type of technology and protection to make it full proof. Now, it's never going to be 100% full proof. Okay? And the problem with crypto is you can't exactly call up your bank that you're doing business with and ask them to reverse that transaction because it's fraudulent. Because once that is in somebody else's hands, it becomes theirs. Now, my understanding of that again is that you can track a lot of crypto transactions. That's how some of these people get caught by the feds. If it was that ambiguous and unknown and you could hide anonymity, if it was that anonymous, you'd be able to get away with a lot more. But we hear of the stories of the people that get caught. But, boy, you look at it, folks, 600 million bucks, I think you can get it done because there's enough money out there. And if banks can do it, why can't the crypto exchange do it? I think what you're seeing here is you're seeing just the revolution that the speed is working with in terms of that industry transforming. Excuse me, folks. I mean, you have exchanges that are doing monumental business that have just come out of nowhere and they don't have the infrastructure to make sure that they can't get hacked and billions get lost. Doesn't mean we're going to get there overnight, but yes, I think it's possible. When banks first started doing ATMs, people, of course, said, no way am I going to do that. I'm not going to trust it. It didn't catch on. You know what they had to do? Banks just had to spend more money to make it more acceptable and more fail-proof and more confident for some consumers. And now it's all we do as ATMs. Stay tuned, folks. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa and Clearwater markets? 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Folks, you can reach Teddy every trading day at his website forex-trading-unlock.com. We talk to Teddy every Wednesday at 40 past the hour. Teddy Kegstad, good morning. Good morning, Tommy. We got a lot to talk about today. Is there stuff happening in the market, Teddy? What's going on, man? Just a little bit. How about to kick it off, man? How about the volatility in Crude? $10 in one way and $10 back up today, Teddy? Where do you want to kick things off? Well, with Crude, I think it's winding its coil, you know? So, I mean, we set a range, you know, at the beginning of the month with the high obviously and a big higher swing low and now it's kind of just, you know, getting tighter and tighter and we're pretty much trading around that middle price of that new range that we've established. So, I think right now, you've got to wait for the breakout one way or another. If we go down, I think all you're going to do is kind of test those lows from a week and a half ago. I don't see it breaking too hard. I would say that you would see it probably in a consolidation range right now for the most part. And there's a lot of other reasons why that's coming into. Remember, I told you way before we got to this level, you know, we exploded up to these highs. You know, remember I said once we get to that $110 level, consumers are just going to start to be the drag on the market. So, it doesn't matter about supply, demand is going to diminish. And we are starting to see that. So, I think that's kind of why the oil market is volatile without a doubt. I'd be very careful trying to sell this market, that's for sure. But I think that's why you're seeing a consolidation right now. And I am overall still bullish. I think one of the biggest things we need to talk about is what the Bank of Japan did and the Japanese government did on Monday. Are you aware of what they did? I'm not, but I pulled up the chart and I'm aware of the move that it had. So, what's going on with the yen? Okay, well let me explain this to you. I am now short the US dollar yen and you know I've been long for, you know, eight months. Okay, this is a good one. Let's see. Okay, I know this is a change for sure. Okay. Absolutely. The gold buttons are going to like this. Let's go. Absolutely. I knew you would like this. That's why I wanted to get into this. So, here's what happened. Okay. On Monday, the Japanese government and the Bank of Japan said that they are not going to allow their currency to be devalued anymore. Okay. So, now you realize that it's not just the dollar that's been strong versus the yen. I've been saying all the crosses versus the yen have been in a bull market, you know. So, the yen has been just getting pounded. So, they drew a line in the sand on Monday. They said there's no way they're letting the US dollar yen get above 130. Okay. So, that means they are definitely, and they said that raising interest rates is on the table. Now, when was the last time you heard the Bank of Japan say they were going to raise interest rates? Yeah. Okay. And the Bank of Japan is not like, and their government is not like our Fed and our government, where they're way behind the curve and they're also not going to do a quarter point or something like that. Like, they would do something like I would think they would do. They would do like what the Swiss would do. Instead of doing a quarter point, they're going to do at least a half a point. They may be doing a whole percentage point. Just bring it, right? Just bring it. Well, especially if the market rallies up to 130, they're putting the brakes on. They're not going to do a quarter point and see what it does. They're going to say, we're going to get in front of this market because no one can control the market. But if you make a move like that, you can cause enough of a reaction. People are not going to fade that in the short run. Okay. And I think you can expect that to happen. So I'm still, right now, all the fundamental factors are there that would support the bull market that's going on. But this change in tune is huge. And then the thing that followed this is that the Fed, our US Fed, came and reiterated how they may actually do a half a point at the next time. Which I've been saying for a long time, instead of doing a quarter, they should do at least a half a point and do it for several times to catch up. So, and I think that the US Fed is now, they have a little noose on their neck saying, oh geez, this war of the central banks began last summer. The US finally got in and with what's going on because of the lockdowns and everything and the supply chains, look what's happened to the Japanese economy. They were the first ones to open up back in December fully. They had the engines turning on. And just what we've seen in the past two weeks, yes, I was happy the last couple of times. We've talked, well, of course, I've been long, it's been going sideways for months. But now the Japanese know that initially it was helping their exports, okay? But now it's getting to the point where they're not making any money. Everything's cost more for them to do and it's great for us because the dollar's strong but they're not gonna sell anything if they can't make a profit. So, and I think what you're gonna see now is this is one of the big reasons why you're seeing the dollar index in a short-term correction because the yen obviously is coming back, okay? So dollar strength is losing there. Now you have the euro and the pound which are the two biggest components also that have been railing for the past couple of sessions, okay? Now I would be leery that right here's the thing is everything is in a corrective mode right now and you have to view it. The US dollar yen am I calling a top? No, but I think it's gonna be really hard to make a run up towards newer highs right now. Now if oil starts to explode and the treasury bond market and the 10-year notes start to go back on lows which right now they're retreating to the upside, you know? That goes back to their major trend. Well then the US dollar yen's gonna make new highs and go towards that 130 mark, you know? So, and that's when we know that then we have to watch out for the BOJ and that telling you, we're talking about the samurai they're gonna come out as soon as that number hits they're not gonna say we're gonna have a meeting in two weeks. They're gonna actually do it overnight, whatever it's gonna come, it's gonna be like a Pearl Harbor strike, you know? Because that's pretty intense when you tell the market too, right? Then they know kind of where the line is in the sand, man. Yeah, that, yeah. So, and this impacts obviously the gold market, all kinds of other markets, you know? So I think that you really have to watch the yen right now and it's gonna be interesting to see how this pans out, you know? It's because the rest of the news isn't covering this, you know? Which is I was stunned because on Monday, you know, I obviously was watching it Sunday night, I'm like, oh my gosh, look at this is up at 123, 124, 125. You know, it pulls back a point and a half and I'm like, well, this is normal, it just had such a huge rally but I'm like, well, let me see what's going on with the news. I couldn't find anything, you know? But then when I saw what happened with the announcement, I'm like, how is this not breaking news on CNBC? This is huge for our interest rate market, for the currency markets and for us buying stuff from Japan. You know, I realize that HONDAs and Toyota's are made here but we still buy stuff from Japan. Sure, not totally, man. And that's why we appreciate you having it on, man. Such great information and it's really remarkable how much is in the news right now, man. And that's probably part of it. Let alone Sunday night and Monday, all the talk about Will Smith and his performance but we'll leave that for everybody else. Isn't that crazy? That overshadows the bank of Japan. It is, you know, Teddy, it's remarkable but then you add in all, I mean, we got, we just got ADP private payrolls, right? You got non-farm coming up. You had President Biden and his remarks about rush over the weekend. It's just so much going on. So just, I want to get you to take real quick from the rates. It's, I find it so remarkable that, and I agree with you and I think there's a lot of people, Citi put out their expectation, which is 450 basis point hikes and then two for the sixth meeting. So you're talking about, you know, basically almost 10 hikes if you add them all up of a quarter point over the next six meetings. So you're not the only one and I agree but then you look at the market that's, you know, within 175 points we got about 45 seconds. What do you think about the market if we get that type of action, which many people think we may, man, whether it's 50 basis points once or twice, what do you think the market's going to do as we come into that? And I know you're Forex, but what do you, what's your take on the general market says we get this bounce? Interest rates are a function of currency pricing so I am all over the interest rate markets. I think you're going to see the treasury bonds trading around 108, 105, probably by September, you know, by the September roll. You know, if we do get those, that kind of a degree of rate hikes over the next few months for sure. We'll see you down there. So perfect, Teddy, man. Thank you so much for the time, for the update. We look forward to talking to you next week, man. All right, Tommy, take care. Have a great one. 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This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of tfnn.com. Welcome back, folks. Just that quick. You got the Dow in positive territory. Check out the Dow popping to 35,238 right now. S&P is barely negative by eight. You got the Nasdaq 100, negative by 61. Let's jump around real quick to some of those fang stocks. We got Amazon down almost a percent right now. Give it back some of the gains it's had. Now, Amazon, man, it's been on a run. I have some Amazon and retirement accounts, but you're talking about a run from 2,600 in change to 3,400 in change, folks. Don't be surprised if this market has a little bit of a pullback, just even if it's a healthy acceleration upwards. The move that we've seen since March 15th, historic, to say the least in some of these growth stocks, especially, we jump over to Apple. Apple shares 178.35. You're within above $4 of $3 trillion mark, yet, again, on Apple, we jump to Microsoft shares. Up to 313, you're giving back a bit down 6 tenths. We jump over to ARK, had quite the performance yesterday, giving back some of those gains today, down 2.2%, as you see some of those growth stocks pulling back a bit. But the Dow holding onto some of the gains, up 29 points right now. Crude up as well, up to 108.62. Great discussion with our man, Teddy, always insightful. And yeah, talk about some news. It is really tough right now with the news cycle to hear everything going on. That interview, just one great example of the news out there that you got to keep track of. Gold, as we see that pullback in the end, you got gold. Trading up 18 bucks, man. You claw back all of those losses and then some of yesterday. And we are now back to where you were trading at on Monday in gold right now, up $18 at $19.35. And we jump to the all-important notes and bonds. We're down a bit. You're trading at 122.06 right now. And we jump over in terms of where we're talking about for yields. Where are we? We are sitting right now on the 10-year. Let me pull it up. 2.41% the yield on the 10-year. Over in Europe, you have the DAX really giving it back down 1.5%. CAC rolled down a percent, giving back yesterday. The DAX was up like 3% yesterday. So giving back some of those gains to say the least. And yeah, we come into non-farm payrolls on Friday for the month of March. And then the next big one that the market will be watching, April 12th. So that is less than two weeks away. So that is a week from next Tuesday, April 12th. Put it on your calendar, folks. That is CPI data. April 12th. Scheduled to release at 8.30. My show comes up at live at 9. Thanks so much for starting your trading day with me, folks. Don't forget, right now, head on over to the front page of TFNN. Sign up for the tiger stand for a dollar. You'll be in there at no time. Stay tuned, folks. 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