 The Power Trading Hour with your host, David White. Call now, toll free at 1-877-927-6648, or internationally at 727-873-7618. Now, David White. And welcome all to another excellent edition of The Power Trading Hour. Everything okay? It sounds like some rocks in the trunk or something in there. It's quieted off now. Anyway, as always, another great day to listen to The Power Trading Hour. And of course we always come at the sacred and anointed time. How did we know that something had to be problematic today? Let's go ahead and do this. Okay. Oh, that's right. Okay. Let's do this and do that. And go back to what we were going to do to begin with the anointed time. The following takes place between 2 p.m. and 3 p.m. And we're up 31 points. I thought maybe we'd be a little weaker today and run up in the morning tomorrow. It looks like we're running up today. So maybe we're a little weaker going into the Chairman Powell notes at 10 a.m. tomorrow morning. Of course, generally they leak, I don't know, it leaks not the right word. They do publish somewhere around 10 to 15 minutes early the speech. So we'll probably see some action right after the open depending on what he says. I'm pretty good at predicting what a lot of people are going to do. Kind of always got hooked on that. Sherlock Holmes saying of a individual is always a mystery, but a bunch of them are almost a certainty. So don't know what one guy is going to do or what one guy is going to say. So I tend to try to stay out of binary outcomes depending on what one person is going to say. Like a CEO in a conference call. Mostly you can tell what some are going to say. You know they're not going to rock the boat. You don't know whether or not old Chairman Jay Powell. When they say that I always think it's like Jay Perry Powell, like Jay Peterson and what was that, Steinfeld, Jay Peterson. I think it was Jay Perry. Maybe, maybe not. Who knows. Anyway, with Jay you never know. Is it an abbreviation? Is it the first name? Is the whole name unclear unless you go research it out? And of course I've got too many things to do to find out whether it's a Jay Perry or a Jay A Y. I think it's a Jay A Y. But it will not change my life. So I am not going to investigate that further. As I said though, what's going to happen? My guess is that they're holding it up now. If we sell off a little bit into the close, I won't be surprised to see a little week going into those numbers. Probably somewhere around 9.45 in the morning. So, other than that, what do we have going on? Well, incredibly light volume. And I mean incredibly light volume. We dipped under and let me see. I think I have it up and saved it if I can find it here. Okay, there's my library. There's my videos. There's my videos. Okay, that's what I wanted to get up here. I did want to talk about volume. I think I can zoom in on this a little bit too. We dipped under, yesterday, dipped under $400 billion. We got $380 billion. This barely touched $900 billion shares on the day yesterday. So, volume is waning, total market dollars waning fairly significantly too. So, there is kind of a lot of evidence that we've got a little bit building in the short interest part of the market. I think that as we started to have lighter volume this week, the old chestnut in the market do not stay short. A quiet market is probably a good plan to take. But then we move on. Of course, tomorrow is the 26th. That sets up fund buying, which really starts about mid next week on the 31st. And that's going to be on very light volume at the same time. Almost everybody on Wall Street is going to be leaving for the Hamptons. And I will call my nephew and get the straight scoop, because he can look out from his giant hospital in Long Island. And watch the traffic and give me almost a helicopter eyes view of how crowded it is going out there. So, I know when they're actually headed out there. But we'll see. But anyway, I'm going to guess about the 31st. They're probably heading out there. It's the last big raw for the Titans of Wall Street. They control the world. We just live in it as our humble peons that we are. Anyway, they'll be headed out to the Long Beach. And it'll just be quiet. The problem is, if you're heavily short, prime, prime, prime activity for running the shorts out of the market. Not only that, you're going to have light volume. You also got fund buying coming back on the 6th. You can do it the last three days, training days of the forward month. So literally they could come back and buy on the 6th and they'll be within the charter for their ETFs and funds. So don't be surprised that we see a little bit of that movement. And then, of course, historically September is actually fairly weak. At least the first couple of weeks of September tends to be weak. Where they look for faster horses. And generally that means that some of the old horses are put out to the glue factory. And that tends to be the first couple of weeks of September. And the funds come back in and start to putting the whip to it. As Rodney Dangerfield said, I can still see the marks on it where the jockey was whipping it. I think that was about a steak. What movie was that in? Don't know. Anyway, a great movie probably if I can remember which one. So we've got that set up. Anyway, we'll be back with Tim Ord here in a moment. There's not much else to really talk about. Probably maybe we have no action. Maybe we have a lot. But 945, the balloon goes up or the balloon drops. Which one is that supposed to be on New Year's night? I think they dropped the balloon. Why would they drop it? Wouldn't they let it up? Doesn't make more sense. Anyway, sad and confused and waiting for Fed action tomorrow is kind of the way you color me. Tim Ord will be on. We've got a couple of questions for him already. If you want his charts, just email me at path at TFNN.com and I'll try to send them off to you. So you can follow along at home and play the home game here at TFNN. But up, let's see. Let's just go back here so we know. Yeah, up 32 on the S&P cash. Dow's up 123. Nasdaq up 140. Russell's up 20. Fruit oil's down 150. Be back in a minute. Inflation, we are purchasing powers eroded. There's no better place to protect your harder and money than in gold. VISTA 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 the Teowan Mining District. This is a large-scale, low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction. VISTA Gold just completed the Monk Todd Feasibility Study, which resulted in a 7 million-ounce gold reserve and a 16-year mine life. 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A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien found a TFNN over 20 years ago to help educate investors just like you. Tom's daily market newsletter, Market Insights, every morning when the markets open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at TFNN.com. TFNN educating investors toll free at 1-877-927-6648 internationally at 727-873-7618. Hang on just a minute. We're having connection difficulties so give me just a second. Okay, got that. Here we go. We'll get to that. Well, we don't have him on just quite yet, although he sent me all these charts. Oh, there he is. So we don't have to send the search party out. How are you doing today, Tim? Good. How are you doing? Sorry, a little bit late, but not too bad. Now you're still snuck in under the wire. Okay. All right. Send some charts over. I guess we'll go through them real quick. We can do that one the guy had a question on. Yeah, I wanted to do that one first if you want to. All right. I mess with it and I got tilt here, which is what the 20-year bond or something. Yeah, it's an amalgam of bonds, but yeah. Yeah, you can use junk or, you know, there's several different ones. They all kind of work similar. And what I did, I did a ratio of the SPX tilt ratio. And the only thing I really was useful for the top window is a 14, normally you use a 14 RSI. I used 11 because it kind of pushes up to more extreme, so they're a little bit easier to identify. So I use 11 period RSI instead of a 14. And that seemed to work okay when you get above, you know, when the ratio RSI of this ratio, which is the SPX tilt ratio, it's above 70. A lot of times you're near at least a short-term consolidation. And the blue lines are the ones that the RSI was above 70. And the red lines are when those blow 30. And, you know, last week we did get above the RSI of this ratio, did get above 70. And you did have a short-term high. This chart goes back about two years to maybe three years. And there's something to watch. This is another indicator. And, you know, ideally, you know, to really do it right, I guess, to try to find highs and lows, the more indicators you get that suggest the high or low, the higher probability that the market will turn at that time. So using one indicator a lot of times doesn't work out on a long term. But so this is kind of another indicator I watch that I put on. And so right now we're still, as I wrote, I updated this chart this morning, it says 61 in the RSI. So it's not bullish. Ideally, you'd like to see a blow 30 to really get a low going. And the last decline we had going into that may low, June low, you know, the RSI didn't get blow 30, got, you know, blow 50, but it didn't get blow 30. So I guess you're saying right now is there's not really a good, even though we had an RSI above 70 here, you know, probably about a week ago, it hasn't really gone down enough to really suggest that we're near a short term low, at least not yet. So and also we're in the third quarter. The third quarter, historically, is up as much as is down. I think 50% were up and 50% were down. And this is the worst quarter of the year. So a lot of times this is not a great time to make, you know, big investments, I guess you might say quarter ends around the September 30th. And from there, usually going to year end, that's usually pretty good. And right before you get these big runs up, usually you get a pretty good scare, sometime probably the next six weeks, where you get kind of panic readings, a lot of different end cares. And that's a good sign that you're nearing a low. I always tell my subscribers that if you don't have panic, you don't have a bottom. And so I'm kind of looking for a bottom probably not here where we are right now, even though there may be a minor bottom here. It's nothing significant, I don't think. And when the kicks kind of blow out and the trend kind of blows out and the kicks go straight through the ceiling, those are opportunities for the, you know, because you're doing the opposite where everybody else is doing and you're buying into that panic. And nine out of 10 times usually you have a good outcome. So anyhow, this is a pretty good indicator for that. So if the RSI gets down around 30, the late September, you know, I'd probably call that a pretty good signal that Marcus probably getting close to a low. But now that's how I use the bond comment indicator. I use a ratio on RSI for that ratio. Anyway, we didn't get to the actual question we started. So I wanted to get to that, which just so everybody knows what we're talking about here. But well, I sent it to you and now I'm trying to find it. Please ask Mr. Ward if he sees any value in monitoring bonds that constitute ETFs such as J and K, L and Q, H, Y, G to use as parameters and market direction to stocks. So that was kind of the answer to that. I guess the answer is yes. Well, yeah, I do because if I don't use, I use a ratio, that's my point on it. I do use bonds. I use it as a ratio against the SPX and I use the RSI to determine, you know, what it depends what the bonds and the SPX is doing at any particular time. And with that said, so bonds do have an effect on the market, but you have to put your relationship to what the SPX is doing. So that's, that's tried to answer in that, yeah, I use, they do have a, bonds do have an effect on the market. And the best solution I could find to help, you know, trading, you know, for trading signals is use the ratio and of that ratio use the RSI. Does that make any sense or not? No, it makes lots of sense. I think a lot of people that are new to trading really don't understand the size of the market of the bond market compared to the equity market. The bond market is about nine times bigger as far as market cap than the equity market is. So it is one of those things where a lot of people pay attention to the equities because they tend to move a lot, a lot more. There's a lot more stories on a daily basis. But the bond market tends to get in a big trend and stay in it for a long time. So it's one of those things if you can catch it, it tends to go on for a long time, doesn't tend to vary. So you can hang on to those trades probably better. I don't know what your opinion is, but they do, it does seem to trend for a very long time. Okay. Yeah. The bottom window in that chart kind of shows you it is a pretty trending market either kind of trends up or down for, you know, months at a time. Yeah. Or the S&P's fly back and forth a lot of times trading ranges. Okay, we'll be back with the Tim Ord from the Ord Dash Oracle in just a minute. If you want to take advantage of this sector, now is the time to subscribe to my Gold Report. The Gold Report is a comprehensive look at the metal sector as well as the markets that move gold, which is the currency and bond markets. New subscribers get a 30 day money back guarantee so you have nothing to lose. Every Monday morning I publish the Gold Report with coverage of gold, silver, bonds, the XAU, HUI, GDX, as well as more than 30 different mining equities. To see for yourself the types of profitable trades that are recommended within the Gold Report, sign up now by visiting TFNN.com. Don't miss out on the next great gold trade. Sign up today. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority and technical market analysis, and it's not just dry, tedious text either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 AM to 4 PM 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. 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For more information, just click the Think or Swim banner on the front page of TFNN.com. As we return, we're finishing with the S&P and the TLT chart. We've got chart one, two, and three still to go with Tim Orr to the Orr-Oracle.com. Tim is a market timer that's been around for over 30 years and won many awards and many facets of the timer's digest. So we're back to it. You want to go to chart one now? Yeah, let's go to chart one. I'm kind of a big fan of panic. The VIX is another thing that majors panic in the market. So when it goes up fast, it's usually you get panic. And what the top window is, is the two-day rate of change of the VIX. And so the faster the VIX goes up, that implies everybody just panicked toward the exit door. And normally you get the two-day VIX or the rate of change of the VIX over a two-day period up around 30. Normally, you get enough panic to at least a short-term low. And all those blue lines there are times when the rate of change of the VIX two-day was at 30 or higher. And this last, the point I'm trying to make here, the last ring we had, it got up to high ball right here. It looks like about 20, 20, I don't know, 27 or so. Didn't get quite to 30 on that decline. We had, well, actually, you know, Monday and Tuesday. So it really didn't hit a lot of panic. And to me, that suggests that even though it may be a minor short-term low, it's probably not a final low, I'll put it that way. So, and we did gap down on Monday, so now we're trying to fill the gap, which we're getting today, Monday's gap. And it looks like we're probably going to test it on a lighter volume and that gap's going to be resistance. But, you know, as a decent indicator, there's one failure back in, looks like about February, that, you know, the VIX, the rate of change of the VIX did get above 30 and the market still went down. So, not, you know, not a perfect indicator. But a lot of times, it seems to work better than an uptrend. As a trend, market's going up. Every time you get a little bit of correction, everybody's has to see the exit door. But going in a down market, it doesn't work quite as well. If you notice, they come close to lows or at least consolidations. And sometimes they're a little bit too early. So, but anyhow, this is, I'm thinking, you know, for the next six weeks here or so, we're just going to have a garbage market. It'll try to go up, probably can't go up, it'll probably go down, try to go down, won't go down much. I think the low in June was the low of the year. And I don't think we'll test that low. I could be wrong, been wrong before. But we had quite a bit of panic at that June low. And a lot of different type indicators, even the VIX today, rate of change of the VIX did get to 30 there. But also the, I don't have it shown here, but the Tix and Trend at that started in May and actually lasted until about July, there were just drops of closes on the trend around two or better, a lot of different days. And so the more days you have of panic, the more solid that bottom will be. So I think we have a really good solid bottom, but on a certain basis here, it's more of a trading market. You know, you get a decent, you know, if you get a decent profit, I'd just take it because I think the market will just turn right back at you again. So I have a question here and I'm going to, it's kind of ill, ill worded. So I'll probably put it in my language here. But when you said I've been wrong before, there needs to be at least probably some level of humility for a stock trader. And what do you think about that? I've always felt that if I went and believed that something would happen with a 95% probability, I was probably wrong. If I thought maybe 80, I could be right. But if I was absolutely darn sure, then generally I was wrong. Yeah, there's some truth to that. I mean, usually the hardest trades to take are the ones you think you're wrong on. You know, if you're looking at your indicator and all the indicators are really blowing out because the masses are all on one side of the fence. And you know, I got hate mail for some best calls I ever made, you know, and that's how the market works. You know, you got to get everybody on one side of the fence and you really got to get on the other side of the fence to make the right call because, you know, just like at bottoms everybody, you know, we're sure this market was going to go down a lot more after that June low. And but even a part of that rally, there were still on the rally, even there were some panic readings and some of my indicators, even though the market was going up, that's a real good indication that the trend may continue higher. So I don't know, I'm not sure I'm answering your question, but no, it was pretty good. It was that that was what I was kind of saying that generally the best trades are when no one will give you a second look and says you're all wet and you have to kind of stick with your convictions, but you're not feeling 100% that you're on the right side. You always have a little humidity and you have a bit of that I could be wrong. The people that say they can't be wrong generally are wrong. You got to know that there is a chance to be wrong. So that was part of it. I want to get into the other charts after the break. I do want to talk to you a little bit about going into next week. We've got a little bit of fun buying starting about mid next week. Then of course we've got a long three day weekend. This particular week has a statistical very high statistical correlation with extremely light volume. In fact, we had that yesterday too. The day before we've really been going down for about five days in volume fairly significantly. So we're going to go into that next weekend. I've always heard, well, I heard you early on when I was starting to learn to trade back around 1999 and 2000 waiting for the big three day weekend. Of course this is the last big three day summer weekend. So you're going to hang out and maybe see some real changes when we come back the 6th or 7th or 8th of September after Labor Day? Well, a lot of times I kind of found out that if you know, especially July 4th period seems to be working pretty well. But a lot of times what I found out, if you're going up into a holiday, you use the volume drops out because traders take off early and whatever. And so the volume just kind of drops out. A lot of times those turns into highs. If you're going down into a holiday and volumes dropping out because of a three day weekend or whatever, a lot of times those are lows. So can the market hang up here for another week from this coming Monday is when the markets are closed. So the market trading wise has what six more trading days. You know, to me, if the market kind of just hangs here into next Friday, you know, we're testing a gap in lighter volume. To me, that would be a real buried sign. So yeah, I think there's a lot of times these holidays are kind of reversal markets. If you're going down, usually a low, if you're going up, it's usually a high. We'll be back in a minute. We'll be back in a minute. We've got two more charts to get through. Tim Ortt, if you want either one of them or all of them, like the whole set, email me at pass at tfnn.com. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority and technical market analysis. And it's not just dry, tedious text either. TFNN airs live financial content streamed live on tfnn.com and TFNN's YouTube channel with Tiger TV, live every market day from 8 30 a.m. to 4 p.m. Eastern for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at tfnn.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN, educating investors. 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. 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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. We're coming back. We've got some questions coming in, and they may be answered in this chart. So why wait a day for some clarification from the questioner? Why don't we get into chart two, Tim? All right. This is the SPY, and I got a trend line drawn around 415, and we popped above that with a gap. So we had an open gap. I forgot what day that was. It looks like about August 9th or 10th or somewhere in there. And we came down, and you noticed, you tested that gap on higher volume. If you look at the volume chart, the second panel up from the bottom, you tested that gap on higher volume. That's usually not a good... If the gap's going to have support, you should test it on lighter volume. And if you have a gap that's tested on higher volume, normally you still can bounce, but ultimately you'll probably go down lower. Well, here's another thing, too. On Monday, we gaped down and tested the gap of the first gap back in early August or the first week of August, and today we tested that Monday's gap down most likely. I'm eyeballing it here, but today's volume most likely will be lighter than Monday's volume. So you got quite a few things to suggest here that decline is probably not done yet. And because you tested the August 9th gap on higher volume, and you're testing Monday's down gap on lighter volume, so you got resistance at the gap. So anyhow, it doesn't look good. You don't really have... And also at this low here, over the last four days, you don't have a trend reading of any near panic level. I think the highest one we had was on Monday, and that was 117 on the close, which is a little bit of panic, but not much. Preferably, we'd like to see 1.3 preferably a lot higher. And so you don't have any panics in the trend. And we did look at a VIX chart here on chart number one, I think it was, and you didn't really have the rate of change of the VIX. It's just a lot of panic. So you don't have panic, you don't have a bottom. You got a minor panic. So that to me, it's just probably got a consolidation going on here at best. But the final lows, according to the charts I'm looking at, haven't been seen yet. How low can we go? I don't know. It's kind of hard to say here. If we're still here next Friday, going into the three-day weekend, then the sideways consolidation could be the halfway point down. And that would probably give a target around a little swing low end of July there, around 390. That'd be a possibility. And that 390 area is also those previous highs of June and July in that vicinity. Perhaps the possible we could go down there. So that's how I'm reading it. So my opinion, there's no bottom of any consequence right here. So any questions on that? No, I was trying to get something about an island top, but I don't see one. So I can see, yeah, what are you saying there is you got a gap up, was it the ninth there or 10th, whatever? Then you got a gap down on Monday. And so you got an island gap, your island there. So you got two gaps that are close to each other. They don't quite, they don't overlap or, you know, they're, if you look at that window to the right there, you see that gap up in that gap. Yeah. I was just, I always did the NISTN definition of that, which was one day, right? You gap up, you got right back down the next day. I kind of see if you don't, if you counted is about six or seven trading days, then you kind of have an island up there. I was just looking at the kind of the NISTN version of it. Oh, NISTN, you can have more days, you can actually have a kind of a month, you know, and the gaps are usually pretty close to the same spot. This one's not, I mean, it's close, but yeah, I can see there's sort of an island gap there, but I don't think it's a hugely bearish situation, but, you know, 390 is a possibility, and I think that's what we're kind of lining up for. So, I don't know, it's a messy market. Again, we're in the third quarter, and of all the quarters there are, this is the worst one to really step in and hold your long or short. You get whipped around in this third quarter stuff, so, but you really get the next big phase rally going. We're going to need some trend readings up around, excuse me, trend reading, the proverbially VIX readings up in extreme levels, and so I'm thinking that's going to come in probably about four or five weeks from now when you get all the fear and everybody's yelling, you know, jumping out windows and stuff, so between now and then it's going to be garbage. Well, I always love that story of everybody jumping out windows, because I actually investigated it. You know, nobody really jumped out of windows in 1929. Fake news, fake news, like all the people that killed themselves listening to the war of the worlds, it was one car accident. Yeah, that was another one. There's a lot of those things kind of get a life of their own after that. We've got a little bit of time left here, and then I want you to come back after the break and look at the XLE for me, but let's go to chart three here. You got two minutes. No, the chart three, let's do chart three, and then I'll do XLE. When you get a break, you can bring it up and do all that. All right, but you know, this is kind of a long-term chart. It kind of helps you just find if the market's really made a bottom. And the bottom window is a NYSE summation index. It's a pretty good indicator to really define if you made or hear me a term low. It doesn't catch the low. What it does is determines that you're probably in a bull phase again. And the ratios normally get below minus 700 or 750. And within two months, you rally back up to above plus 1,000. You're usually at an ear-minute term low. You can go back further as you want to go. But we did hit a, you know, below 750 here. We hit about 700, I think it was, in the mid-June low. Actually, that was the May low. And so within two months, so that'd be July 15th, you're looking for the summation index to get above plus 1,000. Well, it's been, you know, it's been three months now because this is, you know, August 4th, even August 15th. And we never did reach plus 1,000. So that kind of tells me that the market still can back and fill here before, I think, you know, a bigger worthwhile ear-minute term rally begins. So I don't think there's probably a worthwhile low is formed. But I don't think, according to this statistic anyhow, the bull market has not started yet. I'll put it that way. Okay, we'll be back with Tim in a little bit. We'll look at the XLE on the way out. I've sent out a ton of Tim's charts. So if you want them, pass at P-A-T-H at tfnn.com. You might think that if you want to be successful at trading in a 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. 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Just visit the front page of tfnn.com. Catch Tom O'Brien, professional trader and educator, founder of TFNN. Also a special guest on CNBC. Tom will bisect and dissect the markets. The Tom O'Brien Show, next on TFNN. As we come back, we've got Tim Orr to the or dash oracle.com on. We're going to wrap up the show today with him looking at XLE for Fletch in the den. And you've got about a minute and a half. So I got an echo on that now. So go ahead and take us through this XLE in a minute and a half. Tim, we lose him. Okay, come on. There you go. Okay, so let's go through this. We got about a minute. Let's go ahead and through the XLE. I got the chart up. All right. To me, it's bullish. You made a bottom in 2020 and we broke the multi-year highs. And you had a sign of strength with volume, you know, account. This is a monthly chart. So it's not a weekly or a daily chart. This chart goes back to 2005 and you broke out on a multi decade to new highs. So nothing bearish about this. So how high is high is hard to say. But if you notice, the market traded sideways from 2008 to 2021. There's kind of a trading range there. And so we broke out of that 10-year or 15-year trading range to the upside. To me, that's, we're going higher. So how much higher? Yeah, I don't know. You know, if it's called that a trading range, a 15-year trading range, breaking out to the upside, we could be going up for quite a few years, I would say, according to this chart. Thanks for Tim for being on, as always. Sell when you can, not when you have to. We'll see you here tomorrow. Same bat channel, same bat time.