 a presentation of TFNN. The Tom O'Brien Show is produced every business day. Tom takes your phone calls toll-free at 1-877-927-6648 internationally at 727-873-7618. Let's go to Eddie and Booker Tom. Hey, Eddie, what's going on? Hey, Tom, how are you, man? I'm doing great, man, yourself? Good, good. It is a treasure to have TFNN every hour during the trading day to be there to help you to guide you. And even to give you some peace of mind or did somebody else is there with you while you're trading this crazy market, either up or down. Well, listen, we appreciate you growling and prowling us out here, because we wouldn't be out here, folks, if we didn't have all you guys, gals, tigers and tigers as clients. And the market teaches you every single day, man. Now, Tom O'Brien. Well, welcome, folks. This is Tom O'Brien of TFNN. We have five days a week. We have seven hours a day. We go 24 hours a day on the internet at tfnn.com. Always remember, folks, whatever you think about, you bring about whatever. You focus on growth so everyone's having a great day, safe day. It's quite a market, man. Let's make it a great night. Don't make assumptions. Learn to ask questions. It's always better to ask questions than to make assumptions. You have the courage to ask questions into you as clear as you can be. Once you hear the answer to the question, you won't have to make the assumption anymore because you will know the truth. Negative eyes. Let's take a look at it out here. We have it out. Industrial's down 1100. Nasdaq is down 561. S&P's off 155. Gold contract down $27.30 at 17.13 an ounce. You get silver down 46 cents, $19.40 an ounce. Lace recruit off 20 cents, $87.57 a barrel. Notes and bonds. You get the 10-year, down 21 ticks, trading 114.29 in the 30-year. Let's just pop it up. It was down 30,000, 15 ticks in a minute. Pretty cool. I gotta look at that. Down 15 ticks, 132.12 in Kingdoll. Kingdoll's up 1486 ticks, trading out at a price point of 109.815. The euro's at 199. The yen is at 144 and the British pound is at 115 to one US dollar. iPhone number's 877-927-6648. Give us a call, folks. One note, it's going on in your world. In the world of the S&Ps, let's take a look at them. What do you have? Well, bottom line, folks. You're gonna be going after SwingPoint. You know, we're down $15.50 right now. The Swing we're talking about on the spy. You get 74 million shares. We made a high yesterday with 69. You're gonna do probably 84 million, 94 million. So the B point on this potential ABC down is at 388. Now, let me show you something else though, because you actually have a potential intraday ABC structure down right now. And it's a big one, okay? So you can see what happened here. He said about 40 minutes ago, let's see, no, how many bars? One, two, three, four, five. Yeah, five bars ago, it passed the B point. Now, what it did is this. You got by it, so that's gonna give you a price projection. The A is on this. What happens when you gap down like this, folks? If you're doing an ABC structure, you don't take the top of the gap. You take the bottom of the gap where it opened up. So that's 403, 297, so it's six points. That gets you 392. That's five, we're 395. Now, what we have, let me see how many minutes it left here. Okay, so you're at 10 minutes here. So what has happened is this. This is gonna get interesting, and this is why. So flat out, my take is that we're going to that swing point and you get a potential ABC structure down. Now, that being said, what just happened here is this. 10 minutes ago, on the 250 bar, you had volume created at 1.7. The one we just had is 1.5. So this bar is gonna be an important bar because the market's a deviant in general, okay? But the bottom line is that, yeah, you can get a small bounce. Like, we got a small bounce intraday and I can show you, it was pretty clear and you can see how volume was clear in these deals. We were bouncing along the bottom and what ended up happening is that at 1,300, one o'clock, that was the first bar all day long that you had any volume in. And, yeah, you didn't get a lot, but you get 397 all the way up to 399. We go into the NDX 100. We take a look at the NDX 100 as the exact same setup inside the NDX. What you have here is the bottom line. We've done $15.29 right now. You're going after the B point and now you can see that the NDX 100 is clearly much weaker than the S&P. So, we're going after a B point. Now, the B point is 290, right, 295. And for an ABC down, you need at 57 million shares. Well, we're 58 today. Now, I don't expect to hit this B point today, you know. Right now, you're five bucks away from it and we're already down $15.50. Now, let me show you the exact same setup. Intraday, what we had inside of the Qs also. You can see when we took out, we needed more than, let's see, 824,000 coins. Shares, we did 927, we took out the B. That being said, the bottom line, as you can see, this bar here, that was at 10 of two, 10 of three, rather, is your highest volume bar. So, you know, we'll see all the shakes up. But bottom line, this market has trouble. King dollar. We go to King dollar. King dollar very well could be an ABC structure on the way up, folks. You know, what you have out here is that you have wide price spread, accelerated volume. You're gonna go after the B point. The B point's $110,786. That's gonna give you, that's a 6.8 B. And if that's what we get, you're talking about a 113, 114, inside of the dollar index. We go into the, let's go into the bond because what's happening here is this. I believe that, let me just see this. Very well may have an ABC structure down on the bond too. Okay, so let me go this way. We have 165,000 contracts. I think it is. I was talking to Z about this yesterday. It's an ABC down. There you go, man. Okay, rates are going high, right to the moon. Okay, so this is a 120, 25. Okay, so you get five bucks. That's 111. We're at 114.30. And it wants to go to a 111. So let's bring this up. T, no, TY, TY1, generic one. Okay, generic, here we go. So these rates are gonna go dramatically higher. Not just a little higher, folks, okay? We bring this up, put this on a monthly. And you're gonna see, we're gonna be going back to 2007, 2008 rates. That's how this is setting up. We already broke the larger portion of it. You already broke that portion and we did that last week. Bottom line was game now was, you know, right down to the bottom, right there with, what did I say? It was 111, that was the next move. So 111, yeah, you can see, there was a lot of trade in there. That was in 2008, and bottom lines, we'll see how it's gonna react going after those lower levels. But that's, you know, right now, if you take a look at the 10-year, we are at 3.420 and the high for the last year is 3.473. You know, so I suspect more than likely what you're gonna see here, the dollar will continue higher. You're gonna get the, you know, the bonds continue lower. And, you know, we're gonna have volume on the marketplace here, that's for sure today. Dow, Dow industrials right now down 1144. We get the Nasdaq off 576, S&P's off 161. Come right back, folks. The booming inflation, we are purchasing powers eroded. There's no better place to protect your harder and money than in gold. This is the gold's flagship asset, is the Monk Todd Gold Project in the Northern Territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world-class gold project in a tier one mining district. This is a large-scale, low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction. This, the gold just completed the Monk Todd feasibility study, which resulted in a 7 million ounce gold reserve in a 16-year mine life. All of this combined with the approvals of all major operational, as well as environmental permits. This distinguishes Monk Todd as an attractive, devious pot, ready-development stage gold project. This, the gold trades on the New York Stock Exchange under the symbol VGZ. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years, a frequent contributor to TD Ameritrade Network and CNBC. Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights, is published every morning when the market's open to give you the competitive informational edge you need to succeed. 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You get it for six months for 6.95 which is the savings of $199 or 22%. And you can get it for one year for 11.95 which is the savings of $593 or 33%. Now they all come with a 38 money back guarantee. When you do get Basil's newsletter, Basil is down approximately 10 to 11 archives out there. You get access to all those archives. Great education folks, check it out at TFNN. Basil Chapman, what's going on? Hi Tom, how are you? I'm doing great man. The market's not doing great, but bottom line is that pretty intense actually. That is actually intense. And a couple of things going on. One is, I don't know if you recall, but last week I said that we've been short the Dow in an intermediate term position from around about 33,300. And that goes back to August. But we also want to do trade on a near-term basis the rally that we saw. So we had the Dow Diamonds just like along the Dow for a very nice rally. And then we got stopped out for a small gains today on the pullback. So we're now left with just the short position. But most importantly, you see this week, this is the weekly chart in the middle. See these two trend lines, one's green, one's red. I call that the inside track repellent or propellant zone. So we're right there now. As we're down 1139, 31,241. So there's another pattern that I look at all the time which is a straight line up, straight line down. That's one and then a cup formation or an arch formation. So in this particular pattern right here, it's red because if you come down sharply, then you try to rally only get to a peak A or a B and then you come down and you take out that left side. That's the dreaded H, right? That's what we call the dreaded H. The reason why we call it dreaded H is because you could get even a one to one to the downside from the H if it takes out that left side look. So both in the daily chart and the weekly chart as we're talking right now, we are just about to test the trend line, the up trend line, the lowest trend line, which is the support level. If we take that out and we close underneath 31,182, which was the low back goes on the 6th of September, that's really not good at all. It means that the MACD is deflected lower. So this is a very critical level. Now you were talking about a bonds and I'll just show you this chart, we had looked at it last week. I mentioned that this cup pattern that pulls back, we were looking at this, the subscribers are looking at the same. There's a really good chance that we're going to make a cup and a handle. Not one of my favorite patterns, but you've got to be careful because we've already taken out the 34.72, that's the 30 year TYX that's the 30 year yield and what the height today so far is 34, oops, where did we go? 34.58, so we're just underneath it. We're really close to taking it out, but you can see the white is the 30 year, the brown is the 10 year yield and the cyan is the five year T node yield. And look at this, I mean, we've not seen patterns like this for a very long time. So we've got to respect that yields are breaking to the upside. They haven't already taken out decisively on this weekly chart on a weekly basis that left side high that was made at 34.72, 3.472 would be the percentage there. But we are really close. And look how it's affecting, this is with the ice shares global timber and forestry ETF is starting to go back down to the 200 period moving average. It's impacting the Philadelphia housing index, which is the HGX. So we've got to respect what's going on here as something that we haven't seen in quite a while where the Fed is in a way, they kind of forced to raise rates. So how it impacts the market is going to be very important. So within that context, if you're looking at the IAI, which is the, I always talk about, this is the broker dealer ETF. It had a really nice rally going from the 91 area up to 98, and now it's given back a chunk, but actually is holding quite well. So there are signs within this whole conglomeration of different indices and different stocks that are, or even in this case, it's an ETF, the IAI, the broker dealer index. Let's say there is support. Now, most importantly, if at 94 in September, if we see the IAI start to take out 90 support, that's going to be really important because that's, I mean, that's, I like to think of the broker dealer index as kind of being a leading indicator. It's starting to rally. It means that people are buying stocks. If it starts to fail, they're selling. So there are a lot of things going on here. So we've whittled down the cash position. At least we've increased the cash position, whittled down our stocks, put in the stocks very tightly. And I think that's all you can do here. We've had some very nice positions in the upside, but you can give them back so quickly. So you've got to just be very careful. I'll tell you, they're going to have a hard time bringing this inflation down, man. I don't quite understand why it seems like markets think that the inflation is going to come down in a year or something. I mean, I've only seen the inflation hit once, but when it hit, man, I mean, it was unbelievable. And it took like four and a half years to bring it back. That was with Volcker, yes. And even more important than that, it's all the repercussions of the yields going higher. So yeah, and not only that, we've got to be watching things like crude oil. Crude oil is down to the lower end of the range at 87. But if we start to see crude oil suddenly spike higher, that's going to be very important. I'm not sure. I think that crude oil is telling us that there's kind of a weak economy right now. So I'm going to be watching this very closely. So this is a time for caution. And as I said, we wanted quick trades, near-term trades, which have worked out nicely, most of them have, not everything, but I think conserving cash is really important. Oh, there's no doubt, man. And in this particular case, folks, when they say cash is king, it's not only king, it's king all over the world. For sure. That's right, yeah. Talking about the king, you're looking at the dollar. We're still on the dollar. The dollar's up 1.51 today. It's holding in the upper part of the range and it's only in legs C in the monthly chart. So there are a lot of aspects in this market that are a little unusual in the sense that if the dollar keeps running strongly, that's going to impact profits from the international companies. So we've got to watch very closely. But I do think that we will get, as we did before, you can get very nice trades to the upside, but you've got to be very nimble. Yeah, they're not out there today, man. Yeah, today, I mean, down to 1.51, that's a big number, man. Listen, folks, come over to our website at TFNN. We're going to go right under Newsletters. You're going to see the opening call on the left-hand side, second one down. Get that, baby, and you are off to the races. Bows, do you have a great one, a safe one? Of course, we look forward to the show tomorrow. You too, Tom, thank you. Thank you. Stay right there, folks. We'll come right back. Dow, Dow's down to 1.15. Asics down to 5.82. S&P's are up 1.63. We'll come right back. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure. But you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority in technical market analysis. And it's not just dry, tedious text, either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern. For free, each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be. TFNN, educating investors. TFNN is excited about our new software charting program, The Art of Timing the Trade Charts. In collaboration with Tom O'Brien and using his best-selling book, The Art of Timing the Trade, your ultimate trading mastery system, David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-its-kind program, The Art of Timing the Trade Charts allows you to scan thousands of stocks for Fibonacci formation setups, including guardleafs, ABCs, butterflies, and much more. The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now, we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. 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. I'm Dau. Dau's down 11.97. You get the Mazdaq 5.99. S&Ps are up 168. Now, let's get over it. Let's take a look. I want to show you this because we were talking about this last week. And this is the type of trend numbers that you need bottom line to get any type of a bottom going. Now, what's happening here is this. It's not today. Okay? But see this number here, the 177. What this means is this. You can see going back. We haven't had a 177. I'll go back six months on this, baby, so you can see. One second. Here we go. Oh, there's a 171. Okay, so July 14th, that low is 171. Okay? Not the low. Yeah, that's the highest tech. 171. So that was the 14th. And you can see 177. So that's your trend. Now, if we go to the tech, what you're going to see is that right when this next down draft started, you got a Mazdaq down tech. Okay? A minus, I believe, is a minus 21 on 19. Actually, well, it's minus. Right there. Minus 1671. So the biggest one, that minus 1966. You can't count that because it's the beginning of the day. This is the decent tech. So in order to get basically anything going, folks, what you need is this. So here, let me do the bull and the bear deal here, how this can shake out. If we get over to the spy first, what you're going to see, my take is that we already get this intraday ABC structure happening right now as it's happening. So next what's going to happen is going to go after the swing point. The bottom line, if you break the swing point, you break it with volume, it's an ABC structure down that's going to take you right down at the lows. So if you're a bull, what you want, you want to get down there as fast as you can. And the reason you want to get down there as fast as you can, that is when the selling can abate because there's still only so much selling. That's in the spy as well as in the NDX100. We take a look at the NDX100. Bottom line, same type of setup. The NDX is almost making it down here today. The B point on the NDX is 298.7, well, 294.26. But bottom line, you can see this heavy duty deal there. And then that will also bring that down somewhere to the 269.270. So what you'd be looking for, okay, so that scenario there would say to me, it would flip everyone out. There's no doubt about that if you're going on so fast. But you've got to remember something. ABC structures, the A to B is a straight line move. The B to C, you move all over the place. The C to D is a straight line move. So we're in that structure. When you take a look at the spy, what you're going to see here is that bottom line, we came down from the spy, 431 on August 16th, down to 388, and then you bounce to 411. It's a clean ABC, man. That's the bottom line. We'll have the expansion of volume out here today. Okay, so that would be, to me, that is actually a bull case. And the reason that would be a bull case is that what ended up happening is that I suspect you get down to the lows, you probably wouldn't take the lows out, and then we'll see what ends up happening. That's the bull case. The bear case, folks, is that what would end up happening is that if we get over and we take a look at the spy, and then what would end up happening is that instead of basically, you get down to the B, you might break the B with volume, and then you go sideways. You do not want to see this market go sideways. Because if you go sideways, going sideways is building cause for lower price. That's the bottom line. And that is always a problem, man. Well, let's put it this way. It's a problem on the way down, and on the way up, that's how you get to higher price. Okay, but when you're talking about on the way down, you don't want to see sideways movements because sideways movements take things self and take things self in an incredible way as we're going right now. We take a look at the Dow industrials. What do you have inside the Dow industrials? Bottom line is that there's not going to be anything negative. I mean, anything positive. The biggest point move is inside the Dow industrials out here. You've got Home Depot putting in 125 minus United Health 120, Goldman 100, Microsoft 94. There's nothing that's not getting hit out here. We go to the NDX100. We take a look at the NDX100. What do you have inside the NDX100 right now is that, look at that, every stock is negative. The biggest ones on the way down, you get Facebook down 9.5%, Nvidia is down 9%, AMD is down 9%, and Mike runs down 8.2%. The least down, okay, folks, is NetEase is down 6 tenths of 1%. Everything, then it jumps to 1.5%. Imagine that. That's the type of market that we have out here today. There's some real destruction happening. When I say there's some real destruction, what I mean specifically is that when you get a bounce going, okay, so if we go to the S&P again, what you're going to see is that bottom line is that you had this bounce going off the low, and bottom line for the last three or four days, the bounce was there, but you can clearly see, I mean, we were going into monster volume and we had the contraction of volume. You get that going in a bad market, bottom line. The lows opened to be challenged. Now, let's talk the Fed. Okay, so if we take a look at the Fed, what you're going to see here is this. So, if we look at the calendar, the next meeting is next Wednesday. Next, what's today? It's the 13th, 7th, it's 2021. So, it basically starts today with the statement of the 21st, okay. Then the next one is November 2nd. The next one is the 14th of December. Well, bottom line after the CPI came in, so what happened with the CPI folks is this, is that the market was looking for a much larger, some kind of a reduction, and it came in basically a 10th higher, and that wasn't even close to what the market was looking at. So, immediately, of course, what ended up happening there is that, you know, the market sold off. Why did it sell off? Because the market is understanding now that the Federal Reserve is going to be going up dramatically, not in a small amount, okay. And, you know, if you take a look at the 10-year, what you're going to see out here on the 10-year is that this baby broke and broke viciously, you know. You've got a large ABC structure down, man. I mean, here it is. We've done 167,000 contracts today in the 10-year. You had to do more than 164,000, and we've done 167,000 already. It's a huge ABC structure down. We're going to the, let's go into the 10-year, one second. I mean, we just did the 10-year. We're going to the 30-year. The 30-year right now, that's trading down USU. USU, okay, USU. September, we have, that says it's the active contract, though, but I don't think so. USU. I'm going to go with the USU. Yeah, it's the USU. So, the USU is down, come on. So, you're down, USZ22, okay. That's down 10 ticks. You've got 316,000 contracts. You're at 132. Take this, let's just see what we're breaking. Yeah, this is ABC down, too. It's a huge one, too. So, this is, you got A is at 145, 17. B is at 132. So, you got 13.5. That's going to get you to 121, 121 in the 30. Rates are going higher, man, and they're going to go quick. Stay right there folks who come right back. Dow, Dow Industries down 1270, Nasdaq's down 625, S&P's off 177. I come right back. VistaGold owns and operates the largest undeveloped gold project in Australia, the Mount Todd Gold Project. VistaGold just completed their feasibility study, resulting in a 7 million ounce gold reserve. VistaGold has all major permits approved and has retained CIBC capital market assistance in evaluating alternatives and in completing an accretive transaction. VistaGold trades on the NYSE American and TSX under the ticker symbol VGZ. VistaGold executing a strategy to create shareholder value. 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 and 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. Biotech is booming, but for how long? Whether you think the Biotech bull has room to run or has run its course, trade L-A-B-U or L-A-B-D. Directions daily S&P Biotech three times, bull and bear ETFs. Visit DirectionInvestments.com slash Biotech today. An investor should consider the investment objectives, risks, charges, and expenses of the direction shares carefully before investing. The Prospectus and Summary Prospectus contain this and other information about Direction Shares. To obtain a Prospectus or Summary Prospectus, please contact Direction Shares at 866-476-7523. The Prospectus or Summary Prospectus should be read carefully before investing. An investment in the funds is subject to risk, including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, Four Side Fund Services, LLC. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Welcome back folks to Dow. Dow industrial is down 1316 points and Aztec is off 638. S&Ps are off 183. Now let's go over and take a look at this S&P for a second. So what you're going to see here is that this is not a tough call but the difference is that the Qs and diamonds really haven't finished their ABC. They have not finished their ABC structure down. But if you take a look at this S&P, the way that I would look at this ABC structure right here is that I wouldn't take the first bar because that's almost like the gap down in the open. And if you take the next bar, what's happening is that that bar is at 4065. So you get 4065. If I use that as the A point, the B point here is 3996. So that's going to be another 69A to B equals C to D. And then the C point is 4016 minus 4016 gets you 3947. Now you can see what happened. We went to 3944. And you see that monster volume, man? It's like this last 10-minute bar, people get out of the way and that's pretty sad because they're selling out at the end of the day. It's better. Whatever it is, it is. That's the bottom line. But that's unusual that you get a bar like this, okay? And when it's not the last bar. With this last bar, it's going to be pretty intense. Now if I get over, that's here at E-mini. If we go over to the NASDAQ composite, I mean in the X100, what you're going to see is the same type of setup. Put this in. And if I take that A point that I'm dealing with here, which would be 12,550. And then the B here is laying out at 12,262. That's 188. The C point is the minus 12336, minus 12336 gets you 12,148. And you can see we went by that and you had that big bar. So that's telling me that, you know, I'm not, don't trade this bounce coming in, but it's telling me it's going to be a little bounce right at the close. And, you know, bottom line, it should be because anyone that's shot out here today, I suspect is going to close their trades. Because when you get a day like this, folks, you know, the bottom line is most of the time you're going to get some kind of a bounce overnight. You know, you know, of course, you can make the case that no, it's just going to keep going and keep going in a dramatic sense. And listen, man, there's no doubt about that. You know, the larger deal is still on the table. The larger deal is that ABC structure down, going to take out the B. I suspect you're going to get the volume behind it and we'll see where the rest of this shakes out. Let's go take a look at the silver market. So we had out here yesterday, silver caught a bid yesterday. It's still, listen, it's amazing that the silver and golds haven't got even more smoked. I'm getting, it really is. But, you know, it is, you can see silver. Silver's not backing down, man. I mean, you get 74,000 contracts today. That's a big contract volume. But yesterday, bottom line is that you broke your downtrend with strength and you had 82,000 contracts, you know? So that level there is saying it still wants to run up to this $20.97. In fact, you know, silver is quite a performer out here today inside of the context of where we are in the marketplace, you know? It is in a big way. I mean, when you look at the stream, the only thing that is green, folks, is the dollar. I mean, that's how this baby is set up and set up in a monster way. XBT, yeah, Bitcoin's taking a hit out here today also. We take a look at Bitcoin. Bitcoin's down $2,173. Now, what would be interesting about Bitcoin, you know, is that bottom line, the last low that was established out here was in June. That low was $17,559. And, you know, we'll see what it's going to go after. Certainly, I suspect it's going to go after the last low, which was higher than the low in June, rather. The last low was $18,548. You know, you can see this thing is just going fast, furious in a monster way. That's the type of markets that we're in. I mean, you know, it looks to me that, you know, the acceleration that we had going up, you know, oh, hey, let's talk about this, because this is not, so, Peter, folks, when you take a look at, this is how an island reversal works, okay? And what the targets and targets are talking about inside the den is that we very well may have an island, okay, from yesterday. To me, that wouldn't be an island. And this is why. Now, technically, that is the correct, you know, term. But what happens with an island top or an island bottom, you have to have been going up more than like four days. Like if we had got one coming off the low that was established on June 17th inside the spy was the 362. If we had got one up at that high, that to me would be an island. And the reason being is that the definition is after a prolonged uptrend, you know, of an island bottom or an island top. It's just not having the three gaps, okay? You need to get, it has to be after you get that prolonged uptrend on the way up and or the way down, you know. Listen, man, you know, I would suggest that you basically look at the Fed fund rate and really understand that this is not going to stop, man, okay? Because they, okay, I'm not going to be able to control inflation without driving us into a recession, you know. And that, you know, they haven't come out and said that. And I suspect they won't. But there's going to be damage, man. And that's, yeah, I might take a second or damage it and they're going to do it in a big way. And, you know, with those numbers that came out like they did come out, you know, they're not going to back off. Now, you know, it said that the percentages have gone up to like 48% that they'll do a 1% in September. Now, I suspect that they won't do that. I suspect that, and this is the main reason I suspect that. Because when you take a look at the calendar, right, they can do three more 75 basis points. September 21st, November 2nd, November 14th. That bottom line, you take a look at that, that's going to be 2.25, right? Yeah, it's 2.25. And then if we take a look at the Fed rate right now, you're going to see the bottom line is that we are at 2.25 to 2.50. Add 2.50 on top of that and guess what you got? Bottom line, you're at a 5% number. And my take is that that's exactly where we're going. And that's, you know, if we're talking mortgage rates and stuff, yeah, you're talking about 8%, 8.5% mortgage rates are coming at us. And that in itself will do the market in, meaning, toss it into a recession. Why? Because what ends up happening, there are so many jobs that are creating inside whether people are doing their homes over, they're hiring people, all of those months to jobs. Huge. Dow Industries right now, down 1,300. NASDAQ's off 641. S&Ps are down 182. Stay right there, folks. Come right back. The technology around us is changing every day. With so much happening, it can seem impossible to keep up with all the information. David White's investment newsletter, the Technology Insider, is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future. David White has made his living staying on the cutting edge of technology. 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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. Folks, let's go to Jose in Lakeland. Jose, what's going on, brother? Thank you so much, man. I really appreciate it. And if you didn't hear, folks, I'm in Mr. Bud Rawls. He was the, he had the warpath. He was no doubt the channel king. And unfortunately, he passed away on 9-11. So yeah, sad but true, unreal. Yeah. Tom, that 9 o'clock guy, yesterday's show, I was listening. He said, excluding energy, this number is going to be ugly today. Boy, give that guy a raise, Tom. That was a nice call. That was a good show. And Tommy show yesterday, folks. He went over for a long period of time and it was a great, yeah, it was a great fundamental take on the whole ball game. And it's real, man. The bottom line is that we, you know, it's, this is sobering. This is getting scary here. Look, Tom, the guy who was counting Apple computer for the last two weeks or the last few days, the stock had a nice move. You know, the last few days, Apple, he said the I-14 was selling great. How does he know this? How does he know this? Besides, where's the FCC? In other words, if the guys from Morgan Stanley or Pick Your Favorite or Goldman Sachs, they have a client list. Let them send a brochure in the mail. Why does the FCC allow them to broadcast their calls like this? You know what I'm saying? This is like stock manipulation. Well, they're always trying to get people long. There's no doubt about that, man. I mean, that's, that's, you know, that's how they make money. So that's, I can't picture that changing, but you know, listen, don't touch Apple, man. Apple's in the ABC down. Apple's, you know, you get that low there at 152.68. We're at 153. You only need 84 million shares. We're doing 100 million there. You get that, and that Apple's going to be right down at the lows, man, at that 137 again. So 129, 137. That's how that baby's lined up. Listen, Jose, have a great one and a safe one. Oh, as you remember, folks, the bear can claw your heart out, the bull can run you over, and thank God there's always another trade. Health, happiness, and prosperity. Have a great night, folks. Have a safe night. Come back and visit Tommy tomorrow morning. Kicks us off nine o'clock in the morning. Great show. Look at him, folks.