 The following is a presentation of TFNN, the morning market's kickoff with your host Tommy O'Brien. Good Friday morning everybody. I'm Tommy O'Brien, coming to you live from TFNN just after 9 a.m. Eastern time. We got about 24 minutes to go until the start of trading. You got markets picking things up in negative territory quite the day yesterday. Chairman Powell speaking at about 12 noon Eastern time answering some questions with David Weston of Bloomberg later in that session, and boy you talk about a sell-off, man. We are about 70 points, 7-0. Now what's interesting is 70 points below where we were on that nice double top we got yesterday. It's actually a triple top, right? Let's put it back to a five minute chart, taking a look at this action just yesterday. Yeah, you spiked higher at 12 o'clock on the statement being released. You accelerate lower to 43-20 after popping at 12-20 to that same level and then boom, the run really began at about 1 o'clock in the afternoon yesterday from 43-60. You got below 43-100 near the close yesterday. We're just below that level this morning. Now I mentioned you back it up 10 days, right? I started off this week talking about 70 points, right? We got a 70-point range in the S&P. Now we got a VIX pushing somewhere near 20 this morning. We'll pull that up in a moment, but check out the action. Last Thursday, we're going back eight days ago folks, 44-30 down to 43-60. You're talking about 70 points, okay? The next day on Friday, we go from 44-07 down to 43-40, excuse me. Again, a few points shy of a 70-point acceleration. What do we do? We drive right back up to that price point of about 70 points higher and then we're talking about moving now folks, 130 points to the downside, either way, large moves in this market. We're in negative territory today. I'm not sure how you save yourself on Friday. We're pushing $21 on the VIX this morning, 21-19. NASDAQ 100 or off by 61 points, that's about four-tenths percent of the red. The Dow this morning, off by 92 points, that's about a quarter percent of the red. Russell, off by 7 points, four-tenths percent in the red this morning. How about the week for Bitcoin, right? Remember when Bitcoin used to trade like a growth stock? Not the case anymore, man. Bitcoin is trading like gold or crude right now. Bitcoin above 30,000, 30,465 in the overnight session, this morning session, really. We were up there at 6.30 in the morning. We've pulled back a bit just under 30,000 at 29,715, Ethereum up at 16.12. How about crude, man? That's going to be the first headline we hit this morning as the risk of war is escalating and that tends to be what happens, which is so worrisome anytime. Is that escalation is a lot easier than de-escalation? And you're seeing it happen with Lebanon and the border with Lebanon right now. Crude catches quite a bit, man. Yesterday, we had an 85 handle. We just almost got up to $90 this morning. We're pushing $89.25. Check out that gold contract. It's not stopping. Partying like it's 1997 gold, almost at $2,000 this morning. Check it out. That gold contract, man. Look at the run this thing is at. Two weeks ago, we're at $18.22 and we are pushing $2,000 in the price of gold. You back it up on a three-year weekly. You've only been over here a couple of times, right? The beginning of 2022, let's do it five years to get the COVID. There it is. So we're bumping. We're bumping up against that 2000 mark. We've gotten above there a couple of times. This is a weekly basis on the gold contract. We got there in 2020 on the heels of the pandemic, right? The acceleration to 2089. We got up to a price point of 2,078 in the beginning of last year in March and we got up to a price point of 2,085. So pretty remarkable. The three tops we have here, 2,089, 2,078 and 2,085. All those tops within $12 of each other going back on a five-year basis. So gold coming up to that 2,000 mark. It's a mental number. 2,000 folks, if you're thinking about trying the gold report, check it out. Today's Friday, you got new issues out every Monday morning. You can see the archives, the positions my dad has in there and boy, it's been quite an acceleration in that gold contract to put it lightly. No Tim Bonds. So we actually got a 5% print in yields. We got there. Pop the champagne. It's Friday. We got 5% risk-free returns on a 10-year treasury. We take a look at a 10-minute chart. You're down to 10510 yesterday. Let's zoom in on the action. That's interesting. Here's the 10-year, right? Over to CNBC. I wonder when we actually got it. Let's see. Yeah, because check it out. Even on this chart, right, it's showing a print at five o'clock last night, but we just had another run. I mean, look at the run we just had, man. Just shy of 8.30 this morning. It's showing a print of 4.99 and shown we're at 4.96 right now. There's your price action. So we're 8 ticks above, 7 ticks above, 8 ticks above that spike low. We got it at about 8.30. That was correlated to a 5% yield. You're pushing 4.96% right now, the yield on that 10-year. I've been talking about the five-year ladder, the CD rate for a five-year ladder pushing almost 5.2% this morning, 5.19, I think was the number. If you're laddering, excuse me, a five-year bank CD, right, through a brokerage-issued CD, 5.2%, man, risk-free over a five-year basis. The reason why it's cool when you're laddering it is, number one, you're getting that cash flow back in case you need it, but if you're just reinvesting it, you have less duration risk because every 12 months you get to reset that rate according to what the bank CD rate is. If inflation is going up, rates are going to be going up. You'll be able to capitalize on a higher yield. If inflation is going down, rates are going to be going down. You might get a less of a yield, but your real yield is going to be more in line with the real yield that the market is issuing, as opposed to if you go on in duration. You lock in 5.2% right now. I mean, your five-year right now, CD, and the reason why I bring this up, we're jumping around. It's only the first segment of the program, but yields are in focus, man. The reason why I bring up the five-year ladder is because what if inflation goes up again? What if we get another acceleration, right? What if we get another acceleration to five or six or seven percent? Then your five-year CD that you locked in at 4.9% is going to be losing you real yield. That's why it's cool that you reset that yield on a ladder, no matter what you're doing. If you're looking for fixed income to lock in that yield, anyway, it's something I'm keeping my eye on because it's pretty remarkable we're pushing 5.2%. Are we going to be pushing 5.5% to 6%? 7%? We'll see. This economy is hot. We've got Raphael Bostic out here talking this morning and saying cuts aren't coming until late 2024 and we're entering the quiet period on the heels of Chairman Powell yesterday. All right. We jump over to the dollar index this morning with the 10-year. Pretty interesting here, right? Dollar really got ahead of things, man. The dollar is trading right where it was. This is a daily, so you're going back September 26. The dollar is trading where it was September 26. In relation, you back things up. The 10-year was still sitting at 108, so we've dropped two full points as in yields have risen dramatically in that period, even since September 26, right? You were trading at 108 right then in the 10-year, you're more than two full points below that level at 105.24, but the dollar really saw that one coming, man, with the acceleration it had since July. From 100 to 106, it's settling a bit at 106.20 right now. We get the 10-year. I've been talking about this channel line, man. I can't believe it's actually happened as quick as it happened. I remember talking about it when we got that spike to 108.16 saying maybe 105 is the bottom of that channel line. We hit 105.10 this morning. Stay tuned, folks. Lots to talk about on Friday. We'll get some earnings. We'll take a look at American Express when we get back. Stay tuned. If you're looking for potential trading setups in the stock market, then Rocket Equities and Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them, using a combination of fundamentals and technicals. 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At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 Days risk-free today. TFNN, educating investors. TFNN has launched the Tiger's Den, hosted at Discord. TFNN has been educating traders for more than 20 years, with live programming hosted by a variety of professional traders during market hours. The Tiger's Den, available to all Tigers and Tigresses for just $1 for the year. There's no catch or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Welcome back, folks. We have the S&Ps off by about 11 points right now, trading to $42.91. I bring you back for a moment on a little bit of a longer-term pitch. You're talking about an area of confidence at about the $4,200 range from $4199.63. We'll call it $4,200 down to $4,141. And what I'm taking there is the Fibonacci retracement zones of two different trends. You're talking about the acceleration this market had from March of $3,800 in change to where we were in August at $46,34. It's more than a 20% acceleration off of the lows. Pretty remarkable, OK? Now, that is the first trend we're looking at. And the 618 of that area is at about $4,141. But you back things up a little bit further. And you look at the run this thing had off of the lows from $3,500. You're talking about an area where you run the Fibonacci off the recent highs in July, and the 3A2 brings you right down to that $4,200. Now, what's so cool about this area is that, number one, you had a little bit of an area of resistance in May before you started kind of the next leg up in this acceleration short term. You also had a brief high in January of this year. And you also had that spike high that we were at in December of $4,180. So all of those are still potentials, man. When you're getting in volatility like we're getting right now, we are about a week and a half out from a Fed decision. Interesting to see the action yesterday and let of what Chairman Powell said. The first headlines that came out were all about that he had basically indicated that they were pausing on the November 1st meeting. Then he got further into his question and answer. And the market wasn't quite comfortable and you traded down 70 S&P points from where we were yesterday and you're coming into Friday action of $4,292. So we will see. Before we jump to American Express, I'm going to jump to Mr. Bostic, like I was talking about. Atlanta Fed Reserve President Rafael Bostic said today, he doesn't envision rate cuts happening until well into 2024. And the numbers he talks about here are pretty simple. 3.7% is where we are and we got to be to 2%. Well, good luck. I would say late 2024, he replied, when asked for a timeframe, when the first decrease could come. Now here's what I'll say about this. They're on the Fed. So their opinion matters, but it's just an opinion. The further out you go into the future, the more it is just kind of guessing. Okay. It's remarkable that we are now 19 months into the hiking cycle. Remember when they began in March of 2022? What is that? 7 months? Yeah, we're 7 plus 12, 19 months into the hiking cycle. They've hiked 11 times for a total of 5 and a quarter percentage points. And the numbers he's talking about, like I'm saying, I really do try and keep people focused on what inflation is. Still at 3.7%, our target is 2%. They're not the same and we have to get a lot closer to 2% before we're going to consider any kind of relaxation of our posture. Now here's the thing I'll say about this before we jump to American Express. There's a very real argument to be made, regardless of what Chairman Powell was saying yesterday, that as inflation comes down and we have interest rates from the Fed sitting at 5 and a quarter to 5.5% as they hamper growth and they bring down growth a bit and they bring down inflation, what's going to happen is, is that the longer they remain at the interest rate they're at, which is pushing 5.5%, the more restrictive just staying at the same rate gets. So I'm trying to keep that in mind myself because if they do get a hold of inflation, and it does begin to drop to 2.7%, I mean, they love that one, right? We got crude prices hitting 100 bucks this morning. So that is going to complicate things, but you're going to hear the argument be made that, listen, we still want to be in a restrictive rate environment because we still have work to do, but we don't need to be at 5.5% when there's a huge gap between where inflation and growth are and where our interest rate policy from the Federal Reserve Open Market Committee is. So that is going to be the leap that they first make when they have to cut, and it's not going to be that they have to be at 2% and be done because it's still going to be restrictive. When they're at 2.7%, maybe they bring that rate down to 4.7%, right? When they're at 2.5%, maybe they bring it down to 4.5%. When they're at 2.25%, maybe they bring it all the way down to 4%. Maybe they bring it down to 3.75% once they're that close. So that that is something to keep in mind. Yes, they do have to get closer than 3.7%, probably. And late 2024 is not as far as it seems into the future, because guess what? Late 2024 is only 12 months away. We are 19 months into the hiking cycle. And just yesterday, the market was waiting to see whether we're going to get one more hike. It seems like they're putting that on a pause from November. A lot of analysts were saying they may be done for 2023 in terms of the final couple of months of the year. They let it play out. Doesn't mean that's going to be the case with next year, though. And you're only talking about late 2024. For cuts, hopefully that's the case because that means inflation is calm. But what it also means is that you may need to stimulate the economy, which is the next worry. That doesn't seem to be the case right now, though, as the economy seems to be alive and well to put it lightly, right? Retail sales 0.7%. How about it? OK, let's jump to American Express. Record profit as customers flock to pricey cards. So, you know, credit cards are double-edged sword, man. You pay it off every month. You better believe you should be taking advantage of the cash rewards, the kickback, all of that stuff. The reason why they provide you all that stuff, though, is to probably get you to spend a little bit more than you're comfortable with. Maybe more than you can afford. And by the time you realize it, you've got a credit card bill that right now is probably pushing what, 23, 24, 28 percent on some of those credit cards. Nonetheless, they report 15.4 billion in revenue that was above estimates and was above the 13.6 well above it generated in the same period a year ago, 20 percent increase in net card fees. OK, MX saying fee based cards accounted for more than 70 percent of all new accounts added in the quarter. Now, there's population growth. There's people coming to the age that they are graduating college, they're in college, right? They're becoming men and women, they're getting credit cards. That's always going to be a flow in the market. What is interesting, though, is if you already have a bunch of credit cards, if you're an adult, it doesn't really make sense most of the time to go get another free credit card. You probably have a credit card you're using. Hopefully you're paying it off on a monthly basis. The only reason it actually makes sense is maybe you're taking advantage of some type of fee based card where you plan on taking advantage of the kickbacks that they associate with that card. Overusing cash or another card, right? I use a capital one venture. Folks, I tell you, I get two percent basically back on everything for travel, but you're able to use that on stuff like Uber and occasional travel. Two percent back on everything. And I think I pay seventy five dollars a year. It also has some other great features that go with it. There's my personal plug for a capital one venture. If you're outside of the country, great deals on foreign exchange rates as well, I was just in my air cut. I used my credit card the whole time. They'd asked me if I wanted to pay in dollars or in Swiss ranks. And I always wanted to pay in Swiss ranks because capital one was going to give me a better conversion rate than the local airport was probably going to give you on a retail sales spectrum. Beyond that, though, American Express, boy, I've looked at them. They got some big cards. I'm sure some of you are out there familiar. The platinum card, six hundred and ninety five dollar annual fee. You know, we're going to pull up the perks on this afterwards, because I mean, you use all the the the gifts they give you there. Yeah, you're making that six ninety five back, but you better believe you got to use a lot of them to get it back now. They talk about that that's what MX has been investing in. But they're even jacking the prices on the business gold card to three seventy five from two ninety five. So they got some big fees, man. But guess what? Even on that, sounds like the conference call isn't going that well. You're dropping from one forty nine to one forty seven right now. You were almost flat on those numbers. MX going to open down a couple of dollars to one forty seven. It's going to be an interesting Friday in the markets. Don't go away, folks. We're coming back for the opening bell. Stay tuned. We got a lot more to talk about. Currencies, commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger forex report. Teddy Kegstad breaks down the forex markets every Monday using his 30 plus years of experience as a trading veteran of futures, forex, stocks and options. 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Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Welcome back, folks. We've got markets open. You've got the S&P down just seven points right now. You're trading at $42.95, saving itself a bit. We were coming in at $42.82. Let's just get ready for the program. 8.30 in the morning this morning, right? Coming down to the lows at 3 in the morning. Market saves itself a bit, but we're just back up to $42.96. You've got a high of $43.04. $43.04 was the high just prior to 5 in the morning. Yeah, and we back things up. I mean, we're just coming into the close of yesterday, and that was an area you chopped around in. Below $43.10 since about $245 in the afternoon. So if you're looking for an upside area, maybe, you've got $43.04 for the overnight high back from 5 a.m. You've got the area of about $43.10, which is where you faced a little bit of resistance yesterday in the close. And then you're pumping up against basically $43.20, which was the 11 o'clock coming into Chairman Powell and that first spike lower as well with the markets down by nine points. We'll see, though, tough to find a bit in this market right now with a lot of weight when it comes to yields. You jump over to the 10-year, a slight reprieve from where we were. The 10-year easing off that 5% yield mark were up by 13 ticks right now at $105.26. All right, we got a couple of questions in the Tigers then on YouTube for our man, Peter. And we're looking at Svix. And this is the short VIX. Let's jump over to this one for a moment. So now this is Svix. It's the one times, so a one-to-one, VIX short futures ETF. Let me say that again, a one times, negative one times short VIX futures ETF. So what you're gonna have here is you're gonna have an inverse relationship to the VIX. Okay, your short VIX. The VIX is just spiked from 12.68 up to 21.15 this morning. You jump over to the Svix, the short VIX. We've just dropped from 33.53 to 23.54. You can see the run-up this thing has as volatility got sucked out of this market when the market just traded in positive territory. Now, look at it, that's in March, right? Go over to the VIX. March, the VIX was spiking at 30, okay? And we paired all the way down to 14. So you see how this thing moves? It moves inverse. We're looking for a potential buy for the VIX. Now, the short VIX, okay? Peter's question is downside targets for entry, okay? So if you're looking at the Svix, you gotta jump over to the VIX. And really, what it means is you would be looking for an area too short, the VIX at highs, right? While we're 21.18 right now, okay? The only thing I'll say is this is not too outlandish for how things usually get out of whack, right? You compare it to any time prior to the pandemic, man. You're looking for spikes in this. Doesn't mean it's gonna happen, okay? But I mean, we just ripped lower to the tune of 270 points in the last five weeks, more than a 5% acceleration. You cherry pick the high of 46.34. We're talking about 340 points, 6 or 7% off the top of that market, right? Yeah, yeah, just like that, off that recent high. Point being, we're only at 21 right now. I mean, there is a lot, not even talking about the lows of 3,500, not even talking about going back there, but 4,200 while within range. And if we pull back to that 4,200 range, Peter, you're gonna see the VIX spike potentially even more. You know, maybe we come in through this week and the market gets ahead of a Fed positioning for higher for longer, but I don't think I'm comfortable shorting the VIX at 21 right here, okay? Even earlier in the year at that initial spike, we got up to 30. I don't think I'm comfortable shorting the VIX. Now, we're in a new normal, okay? We are in a new normal in terms of it's not like the pandemic. It's not like the Fed is going on a hiking cycle 11 times more to five and a quarter percent to 5.5, okay? We're through that volatility, but I'm just not comfortable making that trade. So if you're looking for the short VIX, I would be looking for more of a pullback, man. And maybe you're looking for a pullback down to like 20 bucks or something like that. There's 23.70, maybe you let it test even the highs of that area of $19 coming in to where you were prior to that real drop off. Not sure you're getting back to 12.50 because that would be quite a pullback in this market with quite a VIX spike, but not really quite comfortable just yet. And Uber, looking for an entry in Uber, this thing's been quite a run, all right? You had a downturn channel, you break out of that at the beginning of the year. Let's take those off there because you could easily make the case that you're in a nice little upturn channel, man. Even from the beginning of this year, let's draw a couple of lines on here. Maybe something like this. It's an art, not a science, folks. But you can see that parallel range that it's been chopping around in. You take the highs it had late last year, you take the high it had early this year, it bumps up against. We're bumping into an area right now potentially. Maybe I looked to 37.50, which is testing kind of that high that it had back in the beginning of the year. Peter, the highs talking about 37.58. I mean, tough getting him when you just went from 25 to 42 on this equity, but I've talked about it myself. I would much rather be in an equity like Uber when it comes to the gig economy versus an equity like Instacart versus an equity like Dash. Now, Uber has Uber Eats, that's a luxury. But then the necessity of the car rides, they've changed the world forever on that front. And I imagine people are never gonna pull back from the money they spend on let's take an Uber, let's Uber to the bar. I often said earlier, the name of that company is now a verb in the US language. That doesn't happen often. Nobody says let's lift to the party. No, they say let's Uber to the party, okay? And that's not going away anytime soon. So we've had quite a run on this thing, that's the only worry, but you look at a channel line, man. And maybe that's just bumping up against the bottom line of that. The other thing you could do, Peter, if you're looking at it longer term, you could always scale into this equity. If you're looking to put $5,000 into this equity, well, you could take $1,000 of it and put it into the equity every couple of months over the next 10 months or so and price in over the next 10 months. It's one way to do it because you have had a run from 25 up to 42. But if you're looking for a short-term trade, man, you're bumping up against an area. Maybe you put your stop somewhere below that, 42.93, we're back from 50 bucks. And last thing, let's look at a Fibonacci basis, in terms of this run we've had, because it's pretty much been a one-way trip for this year. And where does that bring it to? Yeah, 40 bucks, which is where you chopped around in May. You got that acceleration on their earnings about six months ago. And let's see when their earnings are. So their earnings are out October 31st for Uber. So keep that on your radar as well. All right, market saving itself a bit. S&Ps just down by five. We jump back to the chart. We jump back to a 10-minute chart. A little bit of a lift on the opening bell. We're up to almost 4,300 in the S&Ps right now. NASDAQ negative by 45. We jump to American Express on their numbers. Saving itself a bit, only off about 1.8% right now. We jump over to the big dogs. Apple, negative by 2.10%. Amazon, quite a day yesterday, right? They gave it up for the session, up to 132. You close out at 128. We're trading right now just in the negative by 7.10% for Amazon shares. You jump over to Microsoft, negative by 3.10%. We take a look at Tesla shares. That's a tough one, off 1.7%. Extending the gains of yesterday. Pretty remarkable, man. Let's check out NVIDIA. NVIDIA, up half a percent, tough week for them as well. All right, folks, S&Ps off by six. Stay tuned. We'll take a look at some of the other equities that have some action on Friday. We'll be right back. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on key indices, selective stocks, and commodities, subscribe to the opening call newsletter at tfnn.com. 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In the Tiger's Den, you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas, interact with other tigers and tigerses as they share trading ideas, news analysis, and discuss the market action all trading day, even at night and on the weekends. The Tiger's Den at Discord is accessible on mobile or tablets as well, so it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of TFNN.com. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Welcome back folks, we got the SMPs pushing 4,300. We'll call it 4,300 on the dot as we speak. We're up almost 20 points from where we were at 8.30 in the morning, just about an hour ago. NASDAQ 100, only negative by 27, Dow off by nine right now, Russell off by four. And I was talking about the American Express Platinum card. Let's jump to MX before we jump and give them a free commercial. And I do not have this card folks, but it is interesting taking a look at some of these perks if you've never looked at it, if you actually maximize the value of what you're getting here. So this is the American Express Platinum card, annual fee $695, it's quite a price tag. Now I mentioned my credit card, Capital One Venture, I think it's $75 for the year. I get two times rewards on everything. So nice and simple, I used that for purchases when I want to, 2% kickback is what I get. This gives you one times membership rewards points, okay? Except you get five times membership rewards points on eligible prepaid hotels. You get five times membership rewards on flights booked directly with airlines through American Express Travel. What you also get in here, and this is the cool part, so it's quite a business plan what they're doing, right? They're signing people up on $700 yearly recurring payments and they're giving them the basket of goods for that $700. You get a $200 hotel credit. Now remember, you got to make up 700 bucks. We're traders, man, okay? We've just spent 700 bucks. That's like an option premium, where you then have to make up that premium first before you go into the profit, okay? But here's how it goes, you get a $200 hotel credit. Well, a lot of people might spend at least $200, one night a hotel a year, there's your 200, okay? $200 airline fee credit, one qualifying airline and then receive up to $200 in statement credits per year. There's 400, do you use Walmart Plus? Well, guess what? Excuse me, you get Walmart Plus. You receive a statement credit that covers the full cost each month, $155. Now here's where it gets interesting, okay? You subscribe to Netflix, Disney, Hulu, ESPN Plus. Yeah, they'll give you $20 a month, $240. So just there, if you book one hotel room night, one airline, because I've looked at this and I said, you know what? I don't need to spend $700 to have another credit card, okay? But you spend a hotel, 200 bucks. 200 bucks for the airline, there's 400. You use Walmart Plus, there's 555. You throw on your Netflix subscription folks and you're at $800, just like that, right? Uber Cash, Uber Eats and Rides With Uber, $20 a month. Yeah, $200. You wanna use the clear, which is when you're traveling, right? A clear membership, that's 189 bucks. So you can see how it adds up, man. Yeah, we talked about Walmart, we talked about the digital. We talked about, anyway, for what it's worth, then you gain access, of course, to all their clubs, at the airports, et cetera. Yeah, the Centurion lounges, et cetera, but you can see, you know, you put those things in the right basket and of course they want all those goods going through their processing, right? Cause they're getting fees on all that. So you have to make sure your Netflix account, all of it's going through your Amex card. You're paying 700 bucks, but you can get over 1500 bucks in value if you really use it. Equinox, let's see. Equinox Plus, what do you need? Do you need a bike to do that? I don't even know. That's why I kind of was like, ah, I don't really need that. And then the kicker is though, right? Is that they're only giving you one, I mean, imagine you're paying 700 bucks. They're giving you all these values, but they're only giving you a 1% membership reward on everything else. Pretty interesting when I get a 2% reward and a lot of people get one to 2% now for most credit cards. So this is literally just a $700 recurring payment for the luxuries that affords you and for the kickbacks that affords you. It's a pretty interesting business plan when you look at it in that context. And their numbers, yeah, they get some good numbers. Going over those numbers again, man. Net income, $2.45 billion, or a record $3.30 a share. And yeah, the market was only looking for 295, but guess what? American Express, down 2.1%. What have you done for me lately? We jump over to Visa shares, up a bit, up half a percent on a negative day. They were talking about some of these payment processors yesterday, PayPal. They were talking about them on Fast Market with our man, Kevin Hinks. We don't talk to Kevin on Mondays or Wednesdays, folks. We interview Kevin at 9.15 in the morning, Tuesday, Wednesday, and Thursday, but you can check out the program Fast Market from the Schwab network. Every trading day, 12 noon Eastern time right here. They were talking about these three. PayPal off 1.5, and yeah, how about this chart, right? Where is the end for PayPal? No one knows, $54.16. You wanna talk about where is the end, man? Yeah, be careful of these equities, man. Check over, guys. All right, let's look at this, yeah. I mean, look at these ones. You're finally getting a bid, I guess, on a weekly basis. I mean, look at this. Maybe there's a little bit of a rotation. Maybe somebody has finally taken money out of some of these growth stocks and puttin' money into Verizon. I have, kid, but you are up from where you were trading just a few days ago from 30, 64 up a buck, 20, a little bit of a lift, but boy, I would look for more than that. AT&T catches a lift on their earnings, okay? Cause these things have just been a mess to put it lightly. Look at this, five year. You commit to COVID on AT&T at 29, you're at 15. Yeah, you commit to COVID at 60. You're cut in half on Verizon and AT&T from where you were prior to COVID. Remarkable. All right, we get the markets just down by three. Let's check in on the dollar index before we jump around to what else we have going on. Dollar index back in off a bit, 106.15 right now as we're having a little bit of a reprieve in yields. Now, check it out, right? Put this channel on on your tenure, folks. This doesn't mean we have to get right back down there, but you see the action. We are near a range of the lower portion of that channel line, okay? And that's going all the way back to basically where this thing began in May. When you had a price tag of 114 on the lower part of that channel, all the way up to that spike high of 117. Nice round number, 117 is where it began. You just rip lower from 108.16 down to a low of 105.10. So you're talking about three points and six ticks lower. And maybe we get a little bit of a reprieve here. We actually hit, the headlines say we hit 5%. It would make sense you could get a reprieve when the headlines say that we hit 5%, which is remarkable. But just like that, I think we're probably pushing 4.92 right now on the tenure, just that quick. And look at the NASDAQ only down by less than 110% right now, coming into a potential area of support. That area is probably a little lower. That area is supporting the NASDAQ 100. It's probably at around 14,750. And we got to a low this morning, 14,796, so pretty close. And we jump over to the VIX, 2050. So you get a rollover, you get higher prices, Peter. And yeah, you jump over to that S-VIX, right? Yeah, up a bit. You see the type of moves you really need to get some action in this though. You know, sitting at 21, the VIX can jump to a high of 25, 30, like nothing. It can also pull back to 17 or 18, like nothing. And just like that, the Dow and Russell basically flat. We jump to JP Morgan off 810th percent. Morgan Stanley shares slightly in the positive this morning. Tough week for them, Goldman Sachs. Slightly in the more positive after a tough week for them as well. Goldman Sachs up about half a percent. We jump to Wells Fargo shares off 1.2%. City slightly in the red. We jump over to Netflix after their big day on Wednesday into yesterday. And yeah, it's not done yet. Netflix shares up another $6, pushing 410 this morning, trading right now at $407.90. And we jump to gold. We'll talk a little bit of gold when we get back. Gold spiking yet again, 1995. Stay tuned, folks. One more segment, we'll be right back. The gold report. As a precious metal, gold is still king. It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market, the US futures market, and the Shanghai Gold Exchange. The gold report. Tom O'Brien publishes his weekly gold report every Monday morning for subscribers, consisting of coverage of the XAU, HUI, GDX, the Dollar, Bonds, the South African Rand, as well as 25 different mining equities with specific buy-sell recommendations. The gold report. New subscribers get a 30-day money back guarantee so you have nothing to risk. Subscribe to Tom O'Brien's gold report newsletter now at TFNN.com. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices, selective stocks, and commodities. Subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com, educating investors. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from Veteran Day Trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos, and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com, educating investors. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit watch Tiger TV. That's TFNN.com and hit watch Tiger TV. Folks, be careful in this market today of Friday on the heels of what we had going on yesterday right now. And you are talking about options expiration as well, folks. Coming into that number, we have the third Friday of the week, we're up to 42.92, but you saw, we just got to move right now. Let's put it back on a one minute so you can see how quickly that just went, man. Over the period of three minutes, you dropped from 4,300 down to 4,288. Now we're up by six points this market trying to find itself right now. We jump over to the VIX. VIX right now, 20, 64 on a one minute basis. We jump over to that gold contract. Just under the highs we had pre-market, 1997. We're at 1997, 60. There's a new high for you, 1997, 90. We just got $2 away from 2000. We'll probably hit that number, right? Our man Vassal Chapman coming up next, those nice round numbers and we're sitting at 1996. As I mentioned, folks, the gold report. If you haven't checked it out, even if you have before, come on over to the front page of TFNN, check out the gold report. It comes out every Monday morning. My dad's got new issues. He's got positions already in there. But if this is the run, and it looks like it's got some legs here, okay? Then it's probably not gonna be done at 2000, but get his insights, get his expert advice and get some of those traits that he's out there putting in his newsletter every week. New issues out Monday and you gain access, folks, to the archives and you gain access to the archive webinars that he has in there as well. So you don't need to wait till Monday. Sign up, go over the weekend. No better time to check out some gold ran with gold rocking right now at 1997. We jump over to yields, slight reprieve in yields. So we'll see. We've been talking about the channel line. We'll see if it holds right now. We're catching a little bit of a bid near the bottom portion of that channel line. We jump over to American Express on their numbers. I mean, tough to be a public company, man, because they crush it, record profits, they're growing dramatically and the stock's down 3%. You're off $4.55 for American Express shares so far this morning. With the S&Ps pushing those session lows, $42.91. Folks, thanks so much for starting your Friday off right here with me. Stay tuned. We got Basil Chapman coming up next with the Tiger Technicians Hour. We've got our man Steve Rhodes with the Trader's Edge live after that. Fast Market at 12 from the Schwab network, with Kevin Hicks and Tom White, our man Larry Pezzavento live at one o'clock and Tom O'Brien, my dad. He's back live from three till four to wrap up the trading week. S&Ps off by 12. Stay tuned for Basil, folks. Have a great one.