 The following is a presentation of TFNN, the morning market kickoff with your host Tommy O'Brien. Good Friday morning everybody, I'm Tommy O'Brien, coming to you live from TFNN, 9.06 a.m. Friday morning. We got about 24 minutes to go until the start of trading. You have markets right now accelerating to negative prices. We got a hot CPI number, we'll get into that in a moment. Right now you got markets trading down S&Ps, negative by 1.4 percent right now, trading down 56 points at 39.61. Folks, we've almost given up 200 S&P points just from where we were yesterday morning. We have given up 200 S&P points from the highs we had earlier this morning. And as we're speaking, S&Ps basically sitting at pre-market session lows of 39.59. You get the NASDAQ 100, you're off 1.7 percent right now. The Dow off 1.3 percent, Russell off 1.4 percent. We jump over to crypto, Bitcoin trading a little bit lower as well. You just dropped below 30,000 on that CPI number. Crude holds up relatively well. You did get some negative action even for Crude on that number. We were up to almost 123. Crude contract sitting at 121.42, you got gold. There's some volatility for you on gold, man. Gold, we spike initially to 18.26, then you get quite a pop up to 18.44. That goes down $9 on the session right now. And we jump to notes and bonds. And we got a little bit of lower price. We got a little bit of higher yield. You jump over right now in terms of where we are. You're talking about a 10-year yield, 3.04 percent. Not too crazy when you think that's kind of where we were yesterday. The two-year treasury surging above 2.9 percent, I saw early this morning, on that inflation number. And let's get into it, man. Inflation, we got a headline number of 8.6 percent, folks. Number they were looking for, I think was like 8.2, right? Month over month, it exceeds the expectation as well. When you get into the core, okay? Core rising 0.6 percent from the prior month and 6 percent from a year ago, also above forecast. And there's your ramp up, folks. I mean, you think about it, right? Really remarkable when you think that February, even March, was the first real time we started to get an indication of the numbers rising. The black bars here are the headline number. The pink is the core, so you could make the estimate, you could make the guess that we have peaked in that March number of 6.5 percent on core. We've then come to 6.2 and now 6 percent on core. But headline number, we're talking about rising to 8.6 percent. That is a high print, folks, okay? So March, March was not the high. We got a new high in terms of a headline number on CPI of 8.6 percent. Commodity is a big part of it. Double digit paces, energy prices climbing 34.6 percent from a year earlier, the most since 2005, including a nearly 49 percent jump in gasoline prices, grocery prices rising at 11.9 percent annually, the most since 1979. Electricity, 12 percent, the most since August of 2006. Rent of primary residents climbed 5.2 percent from a year earlier, the most since 1987. The one thing I will say there is that that helps out the real estate market to some degree because it's not like in previous bull market real estate runs when housing prices were out of whack with rental prices. Yes, you can make that same argument, I'm sure, today that housing prices are out of whack with rental prices, but not to the same degree when you got rents rising 5.2 percent from a year earlier, the most since 1987. Was that 35 years? 35 years, man. Crazy. So we get that number at 8.30 and where do we have it? Let me get the number in terms of the 2.9 because that was an interesting one in terms of the 10-year pulling up the Treasury yields on that number right now. You get the 10-year at 2.92 percent. That's a jump of about one-tenth percent in a heartbeat, man, just like that. And you can see the 10-year not moving as much, right? That's where we pulled it up. You're sitting at 3.05, you're sitting at 3.04. On the short end of that curve, though, the two-year really accelerating higher. Yeah, and so we'll see how that goes in terms of the number they were looking for was 8.3 percent on the headline number. The core number they were looking for was 5.9. And I had made the argument earlier this week, folks, there's only so much the Fed can do to get inflation under control when you're dealing with supply chain issues, you're dealing with a war that is affecting energy prices. So we're in a very, very volatile period of time here where no matter what the Fed does, if we're still dealing with a war with oil prices sitting at $120 a barrel, very difficult in my mind to see that number coming down dramatically now year over year, okay, eventually we'll get to the point where I guess those oil prices started spiking in March. We're already three months into the year. So nine months from right now, okay, we'll have gas prices that'll be benchmarked against a comp that is at $120 a barrel, but that is a long way to go, man. We need some easing in some of those energy prices to put a dent in some of the headline numbers that we are getting, but it is not stopping yet, man, in this market. Let's jump around to some of the fang stocks as the market just continues to sell off right now. S&Ps down, what is it, 60 points right now, trading at $39.57. You got a low print there of $39.49, but we're right near that level. We were trading at $4,020 prior to that number, and that's after the sell-off we got yesterday. You jump around to some of the fang stocks. Amazon shares, you're gonna be down about $2 on the open. Microsoft shares, you're gonna be down about $4 on the open. It's gonna be an interesting one, folks, coming into a Friday, and it's just nonstop right now because we got CPI that just came out. We have another Fed decision coming out next week. This puts a little bit of fuel on that fire. He's gonna have some questions to answer. My expectation is that he's gonna say, we just started this, we're on a course, we're gonna wait for the data to play out, and we'll see how that works. That becomes a more difficult sentiment as time marches on and we get higher prints. Do you remember the conversation about March, folks? The conversation about March was all expectations are, we're probably gonna peak in March. The comps we'll be dealing with as we go further in the year will probably point to the fact that March will be the peak. It'll just matter how we wane from there. How quickly can we come down to 4 to 5%? How quickly can we come down to 3 to 4%? How quickly can we get to that elusive 2% right now? Well, we're at 8.6%, folks, all-time highs. Again, it's June. That was a main number. We march on. Every number is gonna become more important as things get pushed back further into how that Fed is playing out and things. Continuing to check around some of those stocks. We jump over to Google shares this morning. Yeah, you're all gonna be trading pretty dramatically lower right now. Google's gonna be off about 50 bucks from 2,300 to 2255. So far on the morning, we jump over to Tesla shares. Tesla trading down about 20 bucks to 702. Fan favorite Twitter, barely a haircut. That's an interesting one, man. Where would Twitter be without the saga going on with Elon Musk? 20 bucks? 30 bucks? It wouldn't be at 39.53. And I'm not sure that that is. Well, we'll see how that one plays out as well. Jumping back to some of the commodities. Gold pulling back a bit from that high it had. 18.39, you jumped to 18.26 real quick on that number. Jump over and see how the Euro, US dollars trading right now in that action. Yeah, we gotta move down. Euro, 105.33 after some action yesterday to 1077, man. You talk about some volatility. And there's your daily on the Euro, US dollar, man, but you're making a run back to the lows of 1034. And let's check out the yen too, because this thing's been on fire, man. Sitting right at about 134. No real pause in that action. Maybe just a pause, a brief consolidation. Basically sitting at the higher level at sea in 133.94 for the yen. All right, folks, it's 9.15. We got 15 minutes to go until the opening bell. We got markets, S&P down 1.6%. Stay tuned, folks. We'll be right back. At the time of booming inflation, we are purchasing powers eroded. There's no better place to protect your harder and money than ain't gold. This, 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 tail-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 and 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 party, ready-development stage gold project. This, the gold trades on the New York Stock Exchange and the symbol VGZ. 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. Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master. Steve won the prestigious Timer of the Year Award in 2018 and barely missed that mark again in 2019, finishing at number two for the year, an amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. 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. Welcome back, folks. I got a chart here of the S&P. We're up, I have it up on a weekly basis. We are not up today. We're down 1.6% and I pull up this chart, sent a newsletter out to my subscribers earlier this week and what I was saying is be careful here because all we've had in these indices is that we've had a jump from one Fibonacci level to the next, okay? So I'm gonna go over it real quickly here. We have the S&P's up here. You trade from 21.74 to 48.08 during the pandemic, quite a run, quite a run to say the least, man. You trade back to a 3.82 of that number at about 3,800. The acceleration that we got to about 4,200, that's the 2.36 line. In the S&P, we touched that level. We've turned south, we're about 150 points away from 3,800. Seems like that might be the stop right now with the way these markets are trading. 150 points from where we are in terms of to the 3.82 line. Meanwhile, we've given up almost 200 points just in the last couple days of trading. Now the NASDAQ 100 did a similar thing, just different levels. NASDAQ 100 had made it all the way back to the 50% retracement. And then what you do, you bounce to the 3.82. And now we've given almost it all back. You get the NASDAQ 100, we're only 450 points away from where you're trading at right now to make it back to that 50% retracement in the NASDAQ 100. Dow, similar, different action. As in the Dow hasn't gotten to that 3.82. You're chopping around at the 2.36 right now. The Dow had been the laggard versus some of the other indices, percentage-wise. But it's also the laggard on the pullback. Did not get the run-up that the other indices had, but not getting the run-down as well still. You're down 1.5% today, though, on the Dow Jones industrial average. And how about the Russell accelerating off 1.6% right now? Let's take this off. Let's see how to curiosity where we are on the Russell. Yeah, so Russell pretty similar to the NASDAQ, actually, that you pull back a 50% of the full move and then it bounces to the 3.82. And we give it up from there, the Russell right now dating off 1.5%. All right, jumping around to what else we have going on. Let's jump around to some of the stocks with action. We'll kick it off with DocuSign. Talk about cratering, man. I think they were down 30% at one point. 25% revenue growth from a year earlier, but investors are increasingly concerned with profitability. My dad's made some great points about this, talking about, they got a lot of competitors in the market in terms of who you can deal with. But DocuSign comes out 38 cents a share versus 46, so they miss their revenue, 588 versus 581. Revenue increased 25% from a year earlier period, but as investors shift away from a focus on growth to profitability, the miss on the earnings overshadowed that revenue gain. Stock's down huge this year already. On Thursday, the company reported its net loss widened to 27.4 million from 8.3 million a year earlier. So those are adjusted earnings up there. They're actually losing money, but if you adjust it, 38 cents is what they made. Experienced strong growth during the early months of the pandemic, but that has waned. I'll finish that quote up there for the second quarter. They call for revenue of 6 to 604 million. The middle of the range 602 was just above estimates. And for all of 2023, they see 2.47 billion to 2.48 compared to 2.47. Folks, pay attention to these earnings because those are not that bad, okay? They're not great. They're not that bad for a company that's been pummeled. And you wanna talk about pummeled? If you haven't checked out DocuSign this morning, it was trading at 87 yesterday and you're gonna open at 65. That's a $22 hit, folks, okay? And $65 on this equity brings you back to September of 2019. Go back even further? That might, yeah. You're talking about basically when this thing looks like when public. I only go back to June of 2018. So DocuSign is gonna be at basically $65 on the open. We'll pull up the 15 minute. There's your action, man. I mean, that's just pretty staggering when you look at what they did in terms of numbers, in terms of revenue. They still have growth. And the market said, no, no, no. We're anticipating much bigger than that. You're not supposed to be losing more money than we thought in this environment. And they're gonna pay the price this morning down $22. Man, what's that 25% hit? Yeah, crazy, man, crazy. Yeah, in this market, it's gonna be a steep one, folks. The narrative that inflation had peaked in March is gone. That's not a good narrative to disappear. Now, a lot of these numbers have to do with energy. The tough problem here is that the Fed cannot control oil prices, folks. Okay, they can't control energy prices. They can't control everything going on in there. And they can't control food prices when some of those issues have to do with supply chain issues. Supply and demand, as simple as that. And you're seeing those issues play out in dramatic fashion right now. I mean, the core number is still a big number. Okay, and month over month comes in at 0.6%. That's even if you take those numbers out, that is a number that the Fed can control, which is why the Fed loves the core number so much. Because the volatility in food and energy is something that they have difficulty controlling, because it is so volatile, that's why they flock to the core number. But boy, that is very difficult in times like this right now. When you have a war going on, you have energy prices spiking, you have food prices spiking to a degree that we haven't seen in a while. Yeah, so it is a tough one to say the least. Just jumping around, excuse me, folks. Okay, okay. Excuse me for that, just getting everything in sign. So there's DocuSign for you this morning. How about Stitch Tricks? Shares sync after company announces layoff offers weak guidance. Laying off 15% of their salaried workers, about 330 people. SFIX, I believe is their symbol. There it is, you're now from 778 to 618. Do you wanna see a crazy chart, folks? That's a crazy chart for you, man. I can't remember when. I'll have to look it up at one point. I had some type of an option chain at some point in the past in this equity, and it worked out well. I can't remember when. It could have been as far back as March of 2021 when things really got ahead of itself. I mean, this equity, folks, okay? Just for some context here, you're at seven bucks. You're still talking about an equity that's valued at, well, no, you're down to 700 million. When this thing was trading at 100 bucks, even trading at 10 times the value, okay? You're talking about a company that's valued at $7 billion and $8 billion. I remember the numbers that they were coming out with at that time, and I just said to myself, this isn't how a company becomes a behemoth, okay? The average customer was spending something like $400 to $500 a month almost on their clothing. Yes, that's a great sweet spot, man. I mean, you know, you still built a company worth $700 million, okay? I mean, if you can get enough customers that are paying $400 to $500 a month for your clothing, that's great. But my goodness, man, that is not a recipe for broad customer base in terms of the amount of money that they were spending, the customers that they were trying to reach. And it's been a one-way trip, man. And I would not touch the equity at all. They're laying people off the stocks at $7, and it looks like it's a trip to negative prices. Once you're down at under a billion dollars, folks, and you are a public company, well, you have to keep in mind here, okay? And this is what I always say to myself at some point is that when an equity reaches that level, okay, there's a lot of brilliant people on Wall Street. And if this was an extreme opportunity at a price of $700 million for the whole company, well, shoot, you can go in there and you can put up $100 million, you can put up $200 million, maybe you get some financing, you buy the whole thing, right? They take it private. Realize that there's that element on a fundamental basis for some of these companies, man. It's not happening for Stitch Fix right now. Down big again to $6.30. Stay tuned, folks. It's gonna be an interesting open. We'll be right back. If you wanna take advantage of this sector, now is the time to subscribe to my Gold Report. The Gold Report is a comprehensive look at the metals 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, DXAU, HUI, GDX, as well as more of 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. TFNN has just launched their new trading room, 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. And now they are expanding their reach with 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. 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 Tigresses 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. TFNN is excited about our new software charting program, The Art of Timing the Trade Chart. 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 Chart 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 gonna 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. We got the opening bell. We got markets open, and you're looking at an S&P that currently opens down 67 points. That's one and two-thirds percent, folks. And man, you're talking about basically 200 points from where you were at 7.15 a.m. yesterday morning. We're trading at 39.50. We're almost at 41.50 yesterday. Nasdaq 100, you're continuing to drop. You're off 1.8% right now, off 224 points. The Dow, nothing getting spared right now. Dow off 517 points. How about the Dow? You ready for this one? 1,500 points, man. We were trading at 33,100. I guess it's 1,400 points. Okay, I'm ballparking here. 1,400 points from where you were yesterday. Mammoth numbers across the board. We jump to Crude. Hold them relatively well. Yeah, Crude's got some volatility. You have dropped off with the markets in the last hour or so. You see Crude from 1.22 in change. You're trading at 1.2074 right now. Still, all things considered, right near highs. You got gold giving it up. You're off $19 net right now at 1,833 for the price of gold. And you jump to the notes and bonds. We got some higher yields coming at you, folks. Check out that 10-year right now. You got the 10-year down, what, 20 ticks now? Just put this on a minute. That was not the case when we came on the air, man. What time we get on the air? Yeah, we get on the air. 10 years giving up 15 ticks just since I've been on the air right now. So not all that action taking place on the initial inflation number. You see the initial move. You claw it all back. And then we've traded down a full point, folks, within an hour, can't overstate it. The 10-year yield now above 3.1%. We were at 3.04 when I started the show, I think. Six basis points in the span of a half hour. The 10-year, 3.1%. We'll jump over for a little bit of a rate conversation. Traders now fully pricing in three half-point rate hikes in the coming months with a 30-year treasury yield falling below its five-year counterpart for the first part in a month. We got a little inversion going on again. Money markets, you're talking about 50 basis point increase in June, July, and September. We find out June next Wednesday, folks. That's what the Fed swaps they're saying. That would add to 75 basis points of tightening delivered by the central bank since the start of this year. So remember, they started off with a quarter point. Boy, that was a mistake in hindsight, huh? Now they've gone for 50 basis points and it seems like they've got three more 50 basis point hikes factored in. So that would be what? Two and a quarter is what they'd get at the end of September. We'll have two and a quarter priced in, not priced in. We'll have hikes of two and a quarter percentage points by September if they go 50, 50, 50 from here. That would be four 50 basis point hikes following a 25 basis point hike. Now, as I say, every month it builds, folks. I think you'll see the Fed say, listen, we gotta give it some room. Okay, we're hiking 50 basis points here. We're hiking it there. Maybe there's a pause that that language kind of snuck into the conversation at one point. Seemed like some of the Fed governors decided to smack that down in terms of the vice chairman, Leo Brenner. She was out there saying, no pausing. We're gonna be aggressive, et cetera. I don't think they want the market anticipating a pause even if they think they might pause because that in itself will distort the effects of those hikes themselves. So they don't want that message out there even if that's something they're considering. You can't consider a pause as we continue to get record breaking numbers on inflation, folks. I can't overstate it. Just the fact that we were supposed to have a peak in March, that's not the case anymore. The peak is now in May, not from a core basis, okay? But in my opinion, core doesn't matter right now in terms of what's hitting this market when it talks about inflation, talking about supply chain, talking about food, talking about energy, talking about natural gas, electricity, et cetera. I'll try and find the article at this next break because I had a great article out here earlier in the week from Bloomberg talking about the three biggest factors in inflation right now are food, energy, and electricity in the same degree. And all of those are rising at double digit numbers for the first time in a long time. And it might get worse. And that's what we're seeing right here, folks, okay? That's what we're seeing in a big way. And yields are reflecting it as we got the tenure at 3.1%. My dad's been talking about it, man. He sees rates going up. I think he's got it right so far. We'll see if that's the trend that continues right now, but you're talking about a 10-year. Now, put this thing on a daily. So we make it down to 1,7707 today. That's the low. We did, we got there below the low. 1,7085 was the low. We got there by a tick. We break that recent low and you got a 10-year yield at 3.1%, man. Remarkable. All right, let's jump around to some of the other action we have going on today. So interesting yesterday. You had Peter Rice. He was some type of content, right? Was he chief executive? No, no. He was in charge of content, I believe. Let's see. Yeah, I should get his exact role here. But so he gets fired. This guy came over from Fox. Peter Rice, one of the longer resumes in entertainment, but he has done at Disney. So Chaypec fired the 50-year-old head of his TV division on Wednesday is what it was, a clash of styles at the world's largest entertainment company. He had been talked about maybe taken over as CEO before Chaypec, so I wonder if that had some of the lingering effects potentially of disagreements out there. Surprised to him and many others in Hollywood, underscores the unique culture at Disney, heavily reliant on group thinking and collaborative decision-making. I'm a big Disney bull folks, group thinking, horrible for almost anything, group think. Be very careful of group think across the board. But he's gone. We'll see how that plays out in the future. Disney's been a tough one, folks, to say the least. Let's see how it's trading today. Down 2% right now, Disney 101.29. Taking a look at some of the notation I have on this chart, you take a look at it, right? We pull back, we pull back a lighter volume, man, right into this area that you originally broke out. Disney, you back it up to May 4th of 2020, more than two years ago. Disney really accelerates out of the doldrums. You trade out with about 146 million shares. You trade back down the week of May 9th, the week of May 16th. You had 113 million originally. You had 62 million originally. Now even take a look at this week. Okay, this week right now, what are we pushing? 32 million is all we have folks, trade and lower. You know, you're trading down here on light volume. You're pulling back on lighter volume. You do want to see a sign of strength folks, but I imagine, you know, the Disney streaming service is so far above what they thought it would be. The Disney parks are going to be busy and sold out for years. This company is going to make a lot of money again in the future folks. Netflix, man, they got some big problems though. Down 4.3% right now for Netflix shares. Think they got a downgrade this morning. Continuing to drop off $8 to 184. We put this thing on a daily. I mean, that's a tough area, man. The 162 is the low. You're sitting at 184. The one thing about Netflix that's so tough right now when you talk about valuations, they're trying to change their entire business plan, man. They're going to start selling advertising. They got growing problems. They're going to have cost issues that come with things and how are they ever going to make money, man? They're going to try and sell some ads. Well, that's an entire different business model. And that's the reason why you saw some of the companies that were big into this. Who was it? Pershing Square Capital. One of the big hedge fund behemoths out there had a big position in it. Caught his ties instantly when this thing traded lower on their last earnings. And one of the reasons he said he did, it's David Einhorn, I think it was Pershing. And they couldn't basically base how this company was worth if they were changing their entire business model. And he said he had learned from his prior mistakes. We'll see if that's true. He didn't ride this one out to the graveyard. But yeah, I would agree that you can't really factor in how to value a company when they are entirely changing their business model, which is not what Netflix is doing. 700 to 183, remarkable on that equity in a big way. Let's check around some of the other growth stocks. See how they're doing. You got Zoom down about 2% right now. DraftKings down about 1.3%. We check in on Arc down 3.6%, sitting at 41.60. S&P's negative by 75. Stay tuned, folks. We've got a couple more segments of other equities to go over this morning. It's Friday. It's a negative action. The market will be right back for us. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa and Clearwater markets? Tiger Real Estate, LLC is a firm that has extensive experience in the Tampa Bay area. Whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property, Tiger Realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most informed decisions across all price levels. From the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating, Tiger Real Estate can help you make the best decision when it comes to all areas of the market. Before you make one of the biggest decisions of your financial future, call Tiger Real Estate, LLC today at 727-329-8322 or email us at tiger at tfnn.com. That's 727-329-8322. Call us today. 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. His weekly newsletter will give you specific recommendations for value tech stocks, as well as entry prices, target prices and stops to set for each trade. Dave delivers his weekly newsletters every Friday with updates throughout the week. You can get the technology insider at tfnn.com for only $37.50. Sign up for David's newsletter, the technology insider and get an inside look at everything the technology sector has to offer. Try it risk-free today with our 30-day money-back guarantee. tfnn, educating investors. Will the S&P 500 continue to climb for bold trades on U.S. large cap stocks in either direction, trade SPXL, SPUU or SPXS, directions daily S&P 500, bull and bear, leveraged ETFs, direction leveraged ETFs. An investor should carefully consider a fund's investment objective, risks, charges and expenses before investing. A fund's prospectus and summary prospectus contain this and other information about direction shares. To obtain a fund's prospectus and summary prospectus call 866-476-7523 or visit directioninvestments.com. A fund's prospectus and 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, foreside fund services, LLC. This program is brought to you by Vistagold, traded on the NYSE American and TSX under the symbol VGZ. Hi, welcome back folks. We got the S&P sitting down about 75 points right now, back to a five-minute chart. Really, no bid in action yet. You did make it down to 29.32, we're 10 points off of that low at 30. We did make it down to 39.32, excuse me, we're up 10 points from that low. But boy, you talk about an acceleration, man, 12 minutes in the day, and I'd be careful on this one, folks, because that data is gonna make a lot of people worried in terms of where we go in the future, because what happens, and I've been talking about it on my show, folks, and I don't have the answers, but you gotta have the available areas of what could happen, and then it's our job to try and assign a probability of those things occurring. You can't predict the future. If you can, good luck to you, and you'll make a lot of money in the market. If you can't, the way I look at things is you look at a set of possible outcomes, and then you assign a probability of each of those possibilities, okay? Well, you have a Fed that's on a hiking cycle. What's the probability that that hiking cycle diminishes the inflation that we're facing? Whatever you put that probability on, now you have to consider what is the possibility that Fed hikes 50 basis points, 50 basis points, 50 basis points, and meanwhile, we have, yes, some pullbacks, but has the price of oil waned? Have the price of food waned at all? Has the price of rent gone down in terms of people actually spending money on the things that matter? Rent, energy, oil, natural gas, electricity, food, et cetera? That's a scenario that I think is gonna get a more deserved waiting this morning than it was yesterday, because we have a high print in inflation right now. And yeah, all the talk was that March was supposed to be the peak. Well, March wasn't the peak, and March wasn't the peak at coming in at what? Like 8.5% headline number or something? So we're at 8.6% now on that number, and we'll see where we go from there. We got a Fed meeting next week. They're gonna bring it with 50 basis points. I'm sure they're gonna say, listen, we just started this. We were only, you know, they only hiked 50 basis points last meeting. This is the second 50 basis points. They're probably gonna say we're at least gonna go for another one. We'll see how things go from there. But boy, that was not supposed to be the number, folks. This was not supposed to be the number if all is going well. You talk about the jobs number that we got last Friday, right? That was Goldilocks. That was a lot of the term, right? Goldilocks was what I was hearing on Bloomberg. We just back things up to see where we were. What is last Friday, June 3rd? Yeah, June 3rd. Find a June 3rd on the chart. There is Friday action on June 3rd and we got action of negative action in the S&Ps for Goldilocks number, folks. Okay, didn't happen. There was no upside appreciation above 41.50. This market much more comfortable under 42.00 right now until we figure out what's going on. We're sitting at 39.50. I mean, they're talking about 32.00 in the den. You better believe it's possible, folks, when you see the types of moves that you're getting across the board in some of these strong, strong equities. Excuse me, Apple, for instance, down almost 2% today. I mean, Apple, what's that? They lose about 40, $45 billion in market cap overnight. You're trading at 140. I mean, just looking from where you were last Wednesday, folks, Apple has lost $170 billion in market cap from where you were last Wednesday. Jeez, from yesterday, no, from Wednesday alone, Apple's lost $160 billion in market cap. I mean, it's the biggest company in the world so the numbers are gonna be pretty ridiculous, but nonetheless, Microsoft down 2.3% right now. We jumped to Google shares off 2% right now. You basically have the NASDAQ 100 almost off 2%. You're just shy of that number right now as markets continue to stay basically right near the pre-market session lows. All right, we jump around to some of the other companies that are trading lower this morning. Some of them are trading higher. Vale resorts, they are higher after the resort operator posted better than expected results. They benefited from an easing of COVID related restrictions, noted successful efforts to attract visitors outside of its peak skiing season. Yeah, everybody wants to go away and do something, but they give it back with the market pullback. You're still up 2.7% when the market's getting clobbered this morning, so not that bad. Taking a look at a little longer term timeframe for them. Quite a pullback from 376 to 252. They are right back to pre-COVID levels, man. It's really remarkable. Everything got ahead of itself and then everything pulled back right to where we were prior to COVID. I'm exaggerating, it's not everything, folks, but so many equities came back to that price point that we were at prior. You take a look at Amazon shares, right? You get back to pre-pandemic levels. A company like Amazon, Amazon down 3.1% continuing the run lower today to 1,257. Amazon was trading at 129 earlier in the week. You got to multiply it times 20, folks. That's $17 to the downside. That is $340 Amazon would have traded from the peak on Monday to the low on Friday. That was quite a sell for anybody who would have got it on that spike acceleration to 129 post-split for Amazon shares. Amazon, the long run, folks, they're a great company. They're gonna be fine. You check out this company. I mean, you're almost back to where you were in 2018 prices for Amazon getting in at 2022. Yes, they spent way too much money building out their infrastructure, building out warehouses, et cetera. That is gonna wane tremendously on their earnings from last quarter, probably from this quarter is what they told us. But you fast forward things a couple years out. There's nobody that competes like Amazon, folks. I'll tell you a story. I was ordering products from Sam's, okay? And what did I need? So I'll tell you, I needed diapers, I needed paper towels, and I was buying a splash pad for the kids, right? So I got three items I need. Now on Amazon, you would buy those three items and they would tell you exactly what days those each individual item could be delivered. And you could say, put them together to save boxes or whatever, or you could say send them to me as quick as you can. They might say the first item's gonna get there Wednesday, the second item best you can do is Thursday, the next one's gonna be Friday. I say, okay, send them to me, bring them when they come. So I put all of those items, first I pull it up and I got diapers. And diapers can be here by Wednesday or something like that. So I say, okay, not bad. Diapers will be here by Wednesday. I say, ah, you know what? I'm gonna buy some paper towels. I throw paper towels in the cart, I hit go forward, they say those two items will be delivered to you on Saturday. Or something, I said, what the? I can't do that now, I need the diapers now. So then I think I added the splash pad at the same time originally and it said they'll be delivered like all together on Sunday. No option to separate them out. And I say, well, that doesn't work. Let me take out, excuse me, those items in particular, long story short, I had to take those items out and I had to, no matter, when you, if I did two items, it was like Friday. If I did one item, it was Wednesday. If I did all three items, it was Saturday. The thing that made no sense at all is if I did them all individually, they all got here by Friday. So what I did is I placed three separate orders. I ordered the diapers first. Those are gonna be here by Wednesday. I already got them. I ordered the paper towels next. Those are gonna be here by Thursday. They showed up yesterday and then I ordered the splash pad which is gonna be delivered today. If I ordered them all together, they weren't gonna be here until Saturday. How does that make sense, folks? Okay, and what it is, is it's a testament to the process that Amazon has and how they are leaps and bounds away from their competition, even when you're competing with a company like Walmart that's probably the next in line. I mean, part of the reason why Walmart's had such a pullback recently is they are spending a lot of money to try and compete with a company like Amazon. They are still very far away from that. And I think Walmart has some appreciation too. That's a great stock in the long run as well, man, because if there's one company that can do it, Walmart has the reach. I mean, I think 90% of Americans live within 10 miles of a Walmart right now. Walmart, down half a percent, you're sitting almost right near the 618 of the entire pullback of COVID from a price of 102 to 160. But folks, I was taking screenshots of my phone in disbelief saying, are you kidding me, man? I gotta go through and order them one at a time to get the option to get diapers Wednesday, paper towels Thursday. Why can't you give me that option like Amazon does? They haven't spent the money on the process. Stay tuned, folks. We'll be right back to finish up the program. 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 4.00 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. 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. 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. 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. So we have the Biden administration. They're gonna be dropping COVID testing requirements for international travel. It's interesting to see how that plays out with the airlines. Let's jump over to some of those airlines. We've got markets falling off, man. I don't think you're gonna need to lift too much to any degree, but let's see. Delta airlines, yeah, you do get a little bit of a pop, but then a pullback. Delta's still negative by about 1%. On that news, you got United. That about 1%, they did catch a bid briefly as well. Maybe on that news for international, United, Hire, American. Yeah, they're all slightly in the red, but we got an S&P now down by 83 points, folks. This number's a little bit of a game changer, so be careful today. This could be a bigger move than you think. S&P's down 2.1%. You got a treat, folks. You got our man Basil Chapman coming up next for the Tiger Technicians Hour. Of course, we got our man Larry Pezzavento, fast market at 12. Steve Verode, Steve White, Tom O'Brien this afternoon. He's doing his time of the trade webinar right now from nine till two. He's gonna get an hour break. He'll be back in the saddle from three till four. Where's the S&P's gonna be by three o'clock when he gets on the air, man? Time will tell to say the least. And I'm gonna jump over with one more that I wanna talk about for CPI. Great tweet out here. Not familiar who Heather Long is. Let's see. Post-economic colonist, okay? Check out these numbers, folks. Groceries, 11.9%. Biggest since 1979. How about chicken? Chicken, one of the healthiest things you can eat out there, man. 17.4%. I love chicken, but man, it's getting expensive. Restaurants, 9%. Fuel and oil, 107%. Electricity, 12%. Rent, 5.2%. Airfare, 37.8%. Services, 5.7%. Largest ever, largest ever. Largest since 87%. Largest since 1980. Largest since 1990. Largest since 1979. Inflation didn't peak in March, folks. And that was the narrative until an hour and 26 minutes ago when we got the CPI number. And who says it's gonna change when we get the June number, folks? Coming up in July. Who says it's gonna change in July when we get August? Yes, eventually you're gonna be dealing with comps against 8.2%. But boy, if we gotta wait six or 12 months, things are gonna get very dicey in this economy, folks. And yeah, always love a good ribeye, a little steak. I try and keep the red meat to a reasonable level, though. Maybe once, twice a week, something like that. I may have some hamburgers tonight, though. Folks, thanks so much for starting your trading day with me. Always a privilege to be here. Thank you so much. Couldn't do it without you. Stay tuned. We got our man Basil's up next. Live programming all day, folks. It's gonna be an interesting one. SP's session lows down to 2.1%. Have a great Friday, everybody.