 The following is a presentation of TFNN. The Morning, Markets Kickoff with your host, Tommy O'Brien. Good morning everybody, I'm Tommy O'Brien, coming to you live from TFNN, 9.06 a.m. Wednesday morning. We got about 24 minutes to go until the start of trading. I got a little bit of a cough, a little bit stuffed up, but bear with me this morning, folks, we'll probably get through the hour. And right now, we got markets picking up basically where we left off yesterday. Jumping over to the S&Ps right now, you're negative by 38 points. We're trading at 44.81. We'll put things on a 15 minute chart right now. Yesterday, early action, we were up at 45.80. You're about 100 points below that price level. Some strong FedSpeak yesterday. And we saw, we're going to jump right to the tenure, man, because you talk about a move. You're talking about from early on Tuesday, we had a 1.22 handle. I guess it was 11 o'clock at night on Monday to be exact. But the run really began on the open at 9.15 a.m. yesterday. But nonetheless, you back it up to basically Monday evening. We had a 1.22 handle on the tenure. You trade down two full points to where we were this morning. 1.20.05. That has pushed the yield on the tenure to 2.63%. Man, talk about blowing right through 2%. Talk about blowing right through 2.5%. We're trading right now down 16 ticks at 1.20.13. The 30 year down a full point and 13 ticks to 1.45 on the dot this morning. We jump over to the volatility index. The VIX back above 20. 22.98 is the next run back up to the 30s again. Quite a rise off of a low that we saw of 18.55 yesterday. We're trading there 23 right now in the VIX. We jump over to commodities. Gold, just been chopping around right now. You're positive by a dollar and a 19.29 crude. 102.85, positive by about a dollar as well. Silver is negative by 13 cents right now. And we jump back to the end of the disease. NASDAQ 100. Now, man, here's what I'll say. The move pretty spectacular yesterday. Pretty spectacular today as well. But look where we just came from, folks. You have the NASDAQ 100 trading at 14,600. We had a 12,900 handle as recently as March 15th. It's only April 6th, okay? So the market is still up. What's that? 11, 12% since March 15th. Keep that in context, man. As you think about the pullback that is potential here, that is possible, you could say. Now, take a look at the Fibonacci. The bounce we got right to the 618, folks, okay? Boy, if that's a reversal, and we ever get another A to B, C to D leg, you're talking about, well, ballpark 16.5 down to 13. You're talking about a 3,500, okay? A to B leg in the NASDAQ 100. Now we make it up to 15,200 for simple math. We're going to go from 15,000. You ever get that acceleration, folks? That brings it down to 11,500. Be about 11,700 on the dot. We're talking about 3,000 points from where we're at right now, and that's about 20% from where we're at right now. I bring up the 20% mark because even Citi was out there today saying recession, possibly coming in 2023. Stocks could decline 20% or more. I think it was 20%. I'll get the quote to be exact. But nonetheless, big numbers, big bounce. We'll see where we go from here. We got Fed Minutes at 2 p.m. Eastern time today. Let's jump over to the headlines. Fed Minutes to reveal long-awaited details of the balance sheet plan. Well, we got a little bit of a glimpse yesterday. Balance sheet reduction, it's coming. It's coming, and it's coming potentially in May. Federal Reserve is going to unveil details of its likely plan to shrink its massive balance sheet with the release of Minutes of the US Central Bank's March meeting 2 p.m. Eastern time. Today that comes out. Jerome Powell promised a more detailed discussion of the 8.9 trillion with the T balance sheet laying out pretty much the parameters of what we're looking at. All right, we got a heads up of it yesterday, folks. Excuse me. Governor Layell Brannard said Tuesday that the process could start as soon as May and go considerably faster than 2017 when they rose over the course of a year to a maximum monthly roll off of $50 billion. I mean, you look at that ramp up, man. It's pretty remarkable to see what's going to happen in this market as that deceleration of their balance sheet goes from about $9 trillion. And we'll see where we can go from there, but quite the minutes that we will get at 2 p.m. Eastern time today. Economists say the cap on runoff could total roughly $100 billion monthly, allowing around $1 trillion in reductions per year. JPMorgan Michael Faroli estimates caps at $60 billion for treasuries and $30 billion for mortgage-backed security. So keep these numbers in mind as we get the minutes at 2 p.m. Eastern time. Evercore is looking at $50 billion for treasuries and $30 billion for mortgage-backed securities. You've got Deutsche Bank out there, $60 billion and $45 billion. So they're on the high end of $105 billion. But we're going to get it at 2 p.m. Eastern time today. We'll see if the market moves. I mean, this might be one of the cases here of the rally to negative prices happening before we get the news. Because it's been quite a pullback the last couple of days. You just look at the tenure, man. It is factored in, folks. I mean, that is quite a move. We got the tenure yielded 2.63% right now. The market, well aware that higher rates are coming at us in a big way. And we'll see if it's priced in when we get those Fed minutes. But boy, it's a little bit dicey right now, folks, in this market, especially when you think about where we were, where we are for this acceleration. Things seem pretty dire when you trade down the days. You got the tenure jumping to 2.6% in change. But nonetheless, we were just trading, folks, on the S&P at 41.29. We are 350 points above the lows that we had on March 15th. I keep bringing it up because, man, there is volatility in play, folks, and it is possible to the downside to say the least. You got the Nasdaq 100 off 223 points. That's 1.5%. The Dow right now off about 6.10%. 34,325. Let's jump around. There's some of the news that we got this morning besides the Fed minutes out there. Excuse me. JetBlue. So they're trying to take over Spirit. Interesting to see how this plays out. Now, Spirit was looking to merge with Frontier. Not sure how this is going to play into that. Excuse me, folks. JetBlue, willing to shell out $3.6 billion for Spirit because it wants to take on bigger carriers. I imagine these airlines, JetBlue in particular, they're looking at the potential for a ramped-up demand in travel. Spirit and rival discount carrier Frontier announced the plans to combine in February and some say, wait, what's going on? As they say, the bid, Spirit called Unsolicited cast out on the plan tie up with Frontier. So Spirit was surging more than 22% yesterday, down 3% this morning and jumping over to JetBlue shares. Folks, if I was in the industry, they got good times coming up. No matter what is going on with oil prices, people are going to want to travel. JetBlue traced down hard yesterday on that deal. They're going to be spending $3.6 billion potentially, an Unsolicited bid to take over Spirit. You put this thing on a three-year weekly, you're pushing the low 13s. Might be a nice area for JetBlue, man. These are areas we have not seen since October of 2020, right up to 2021. We're right near the area that we've seen some of those lows there. For JetBlue, and I imagine folks travel, it is going to pick up in the future. We're not quite there yet. Oil prices really putting in a hampering on some of the profit potentials to say the least of these airline companies. But if I was an executive of one of these companies, folks, they're going to be seeing higher demand for the foreseeable future as people come out of the pandemic and travel especially domestically. International. What's going on in Europe. Still what's going on with COVID. A little bit more difficult to navigate the variables in play here, but JetBlue. I'd be looking at some of these. I talked about yesterday. Carnival was up yesterday nicely. They had the biggest week of cruise bookings ever from the end of March till April 3rd. They sold off at the market yesterday as well. Stay tuned, folks. We're coming right back with our man Kevin Hinks 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. 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So these markets are jittery and there's not much in the pipeline right now that's going to change them from being jittery except I think if we get some relief, remember the expectations for the Fed meeting or for the Fed minutes that are going to release today is going to be volatile, right? I mean James Bullard dissented at a meeting where they raised rates. So people are worried about what's going to be released at 1 o'clock. Remember these are notes, you know, minutes from a meeting several days ago. So it's not new news but it's certainly a look behind the scenes of what the Fed was thinking in the market whether it should or not Tommy always reacts to it. Yeah, it'll be interesting, man. I got a chart of the 10 year up here on the thinkorswim platform right now, Kevin. And if you back it up to, we'll call it like midnight, Monday night basically. It was about 11pm Monday night, early, early Tuesday, late, late Monday. We had a 122 handle on the 10 year and just like that by this morning we're at 120.05 almost two full points to the downside. And so as you say, I mean, boy, the drop-off really began quickly when she started talking yesterday and I was talking about to kick off the program, Kevin, saying maybe that was, you know, the move in anticipation of the minutes and maybe it's a story where, like many others, you get the move ahead of the news, the news comes out and it's kind of already known and maybe she's served that purpose and given the market kind of a heads up of what's coming on those minutes. But I agree, uncertainty out there until we get the minutes at 2pm but boy it's tough to see what's going to happen and a lot of, a lot changed in the last 24 hours, Kevin, already priced into this market. We'll see how they react at 2pm for the minutes. We got a lot of other stuff going on in the market, Kevin. We got, of course, Twitter and the press out there. Elon's refiled as an activist investor. Good for him out there. Really remarkable what he's done, Kevin, from almost a trading perspective though. What do you think, so take like the whole agenda that he may have out of things. What do you think of the price action that he was getting into Twitter, man? It came out, he was buying basically since the end of January. I mean, it looks like a great spot on the chart to me if you're a technician, man, to be buying Twitter down at the 30s regardless of what was happening when it was as high as 80 last year. What do you think about that? Elon Musk is savvy in many different ways, right? And it's not just in his business acumen, but also as someone who is involved in social media. He's got his finger on social media. He's got his finger on value and, you know, it just shows you there's not much that this guy can't figure out. And so he had an interest in social media. He's always had an interest in social media. It's clear now that he's always had an interest in Twitter and how it works. He mentioned in a social media post that he may want to start with, but he probably did a little due diligence and realized that Twitter was under some pressure here and relatively modestly valued. Well, he's given that a shot in the arm in terms of the value of this company. So listen, it just in terms of a different view than Elon Musk's different view of what Twitter can become and should be. I think, you know, this doc has done a lot of work today than it did a few days ago, Tommy. Yeah, I mean, no matter what you think of the guy, you can't deny a brilliant man, entrepreneur, change the world in a couple different facets, which is just incredible and on the way to become the richest man in the world by doing those things. But yeah, just as if I could. Yes, Elon Musk is the biggest electric vehicle maker in the world, right? He's got 75% of the market share, yet even though most people talk their book on a daily basis, he's calling for more fossil fuel production because he knows that's what's right for the US and the world economy. So even though he could easily be talking his book, he doesn't do it. So when someone does that and talks really against their own book, that is a person I feel I can trust, Tommy. Yeah, I mean, it's just they're going to be writing a lot about Mr. Elon Musk and his quests throughout the years. If you pull up the chart of Twitter folks, the story is out today, Kevin. He's basically buying shares on almost a daily basis since the end of January. You can't pick almost a better low on this chart, man. January 24th, Twitter was trading at $32. It makes a low of $31.30 on February 24th. It's down at $32.48 on March 14th. Just months of the ability to be down there and now of course it's trading above $50. And I agree, you know, no matter what you think about Twitter, man, monetarily wise he's probably somebody you want on your team, run into your company or having an influence, man, with the influence he has. With that in mind, Kevin, we get off Twitter, man, we get back to the market. What are you guys talking about at Fast Market with everything going on today coming up at 12, Kevin? We're going to cover two real good stocks in the first segment, Uber in the last segment, and then when the market's a jittery like this what else can you talk about? Boos we'll talk about Constellation Brands with like Polio in the middle segment of the company of the show. Microsoft, Constellation Brands and Uber, Tommy. You know, I have a little Constellation in my retirement account, Kevin, I was taking a look at one of the few stocks that was actually positive yesterday, Constellation Brands in the green yesterday with everything going on. And Uber, we have some Uber in my newsletter. I saw some news on them, right? They're going to be trying to be the app of everything, I guess. Haven't dug into it, but I saw the headlines whether it's planes, trains, automobiles, it seems. Well, Kevin, we appreciate the time, man, as always. It's an especially interesting market right now, so we'll be looking forward to the program at 12 Eastern Time today, man. You have a great one. We'll be watching. Have a great day, Tommy. Thanks for having me on. Always pleasure, man. Take care, folks. Every trading day, 12 noon Eastern Time. I tell you, if you haven't checked out the program yet, please check it out. I've learned so much from the program myself, and it's times like this, folks, where you have markets moving with volatility. You have the VIX back above 22 right now. You have the 10-year yield spike and a 2.6%. We got Fed Minutes out at 2 p.m. Eastern Time today. And I'm going to be watching when they go over Microsoft as well, because I have some Microsoft as well and a little bit of retirement action. And yeah, you got quite a pullback here on Microsoft, man. From $3.50, you make it down to lows of about $2.75. You're back to $3.10. But we will see some of these growth stocks in particular. Back on a daily, where you talk about some sell-offs, man. Yesterday, let's put it on a 15-minute to see the run. You talk about drops, man. Yesterday, you dropped from $3.50 down to $3.11. And this morning, folks, you've got Microsoft's going to open down about $6. That's almost a 2% drop on the open. But guess what? We got the NASDAQ 100 off about 1.5%. So not too surprising. As we come into the break, let's jump around to some of the fag stocks real quick. Amazon shares trading down. You're down to about $32.40. So just trading at $33.60 yesterday morning, folks. Almost nothing immune. I'll take a look at some of them. I talked to Kevin. Constellation was one of them that had a good day yesterday. Walmart actually finished higher for the session yesterday as well. We'll take a look. Stay tuned, folks. We'll be right back for the open. You having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with? Become an Apex creditor in the trading markets and join the Tiger's Den trading room only at tfnn.com The Tiger's Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas. Join the Den and surround yourself with the sharpest minds in the trading world. Subscribers to the Tiger's Den are also the first to have their questions answered live on air and can privately chat with our tfnn hosts live during their shows. Interact with other Tigers and Tigers as they share trading ideas, news analysis and discuss the market action all trading day. 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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 Chart today by www.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 markets open and we got the S&P right now opening down about 9-10 percent. Your negative 41 points Nasdaq 100 opens down about 1.5 percent, negative 216 Dow off 232, that's about 2-thirds percent in the red and we got the Russell off about 2-thirds percent as well, turning it 2028. Jumping back to Twitter real quick Twitter pulling back a bit, you're off 1.7 percent, you're sitting right at about 50 bucks. So taking a look at the article that came out a little bit more revealed in terms of what Elon was doing. So he has 73 million shares and change 9.1 percent of the company at the close of trading that's 3.73 billion dollars. He spent 2.64 so over a billion dollars in profit over that time. Now he has been buying, I'm trying to figure out where it was, come on. Has been purchasing shares in his preferred social media company since January 31st and extending through April 1st. The largest purchase came on February 7th He can't own more than 14.9 percent of the stock. That was the deal he made to get a board seat. Now here's what I'll say that I talked about again. It is a real bummer that nobody, even in the financial press folks, is talking about the lack of regulations that he followed in this quest. Now he refiled as an activist investor 13D filing confirming that now he has an active stake in it. Now he crossed the 5 percent threshold on March 14th I believe. Let's pull this up exactly. Come on. I got to get the dates exactly, but I believe he passed it on March 14th which it normally gives you 10 days to file excuse me yes, here it is. He crossed the 5 percent threshold on March 14th. You have 10 days to file with regulatory bodies that you've now amassed a 5 percent stake in the stock. He didn't do that folks. I think he filed it like April 4th or something like that. So here's what I'll say Musk is worth what 250, 300 billion dollars. He puts about 1 percent of his net worth into this purchase. That is akin to somebody who is worth 1 million dollars taking a $10,000 stock position in a company. Pretty menial. Doesn't really mean much. If Musk doesn't have the resources to follow financial regulations folks, then what is the average person supposed to do? So let's just say that Musk if he had spent a million dollars on lawyers to make sure that he was following the regulations. I mean, with all the trouble he's gotten in taking Tesla Private 420, all this stuff, right? He lost the chairmanship of Tesla. Over the fact that he couldn't control his tweets to align with acting as the CEO and chairman of a publicly traded company. He just wasn't doing it folks. He was putting out material information that wasn't true on Twitter that was affecting the share price of the stock. So he had spent 1 million dollars on lawyers, which is way more than he probably would have needed to spend. But who knows, right? He's amassing a 10 percent stake now and I'm just talking about spending it to make sure you're following the regulations, right? You say to your team of lawyers, hey, I'm going to go out and I'm going to amass almost a 10 percent on Twitter. I'm probably going to try and get a board seat. I'm going to push them to do different things. Make sure that I'm following the regulations for that. If he had spent a million dollars on that for part of his, let's just call it a three billion dollar position for simple math, even though it was 2.64 billion to tie it back to the person who's worth a million dollars again that invests $10,000 in a stock, that would be akin to the person that spent $10,000 on a stock position spending $3 and 33 cents on a little bit of law advice to make sure they're following the regulations. Point being, it was basically nothing. He could have followed them. He chose not to. He doesn't continuously. He's the richest person in the world. And yeah, it might not have had a huge impact on what's going on, but the regulations are there folks to protect retail traders. He had a huge position in Twitter at the same time that he was out on Twitter asking investors numerous different things about what Twitter should be done, etc. It's not how it should be folks. And nobody's talking about it, which makes no sense. If the richest person in the world doesn't have to follow regulations that have to do with basically trying to inflict their ownership over a company and make changes, then what is the point of them? I wish more people would be talking about it. Not many people even understand that he amassed that. He should have filed it by March 24th. He should have filed it as an activist investor already. Instead, he files it as a 13G, which points to a passive stake. He files it 10 days late. It's just nonsense. It's not how things are supposed to be folks. And unfortunately, if the richest man in the world can do it, then somebody else is going to try and do it too. And the only people that are going to be hurt are the retail traders in the way. And that's the bottom line. Alright, let's jump to Uber. They're going to be talking a little bit of Uber coming up on Fast Market. So they look to create a super app by adding planes, trains, and automobiles. They announced Wednesday it's adding trains, buses, planes, and car rentals to its UK app this year. Now, it's interesting because they just added all the yellow taxis in New York. They're trying to do that in other cities. Interesting to see how the business plane is shaping up at Uber. They're not going to provide these travel services itself, but it's going to allow users to book them through its app. Pretty similar to what they're doing with the yellow taxis in some of the bigger cities. Following software integrations with airlines, bus, and rail operators and car rental companies. Excuse me. Uber hopes to become a one-stop shop for all your travel needs. Now, it's a tough one, folks, because you're going to be competing with what? Expedia right out there. Travelosity. I'm not sure. There's a couple different companies. I think I've booked through Expedia before. Later this year, they plan to incorporate flights and in the future, hotels by integrating partners into the Uber app to create a seamless, door-to-door travel experience. It's interesting. I'm not sure that that is an area that they're going to be able to crush it in. Now, they're down dramatically with the market today. They're down 4.6%. All the growth stocks getting hammered right now. S&P's down 47. But interesting to see how that shakes out the business plan changing a little bit there. And as I say it, they're CEO. What was he? He was the head of what? Expedia. So he ran Expedia. He was the CEO of Expedia from August of 2005 to September of 2017. So there you go, folks. He is in the know and he's probably figuring out that they have an opportunity. We'll see how it goes, but nonetheless in the press once again. Let's see. Other headlines we got going on out here. Boeing. Yeah, Amazon, Microsoft and Google. The big three, they all get the cloud mega deal. They're going to give developers new tools to test the aircraft. Boeing favors a shared deal instead of going all in on Amazon. They hire them all to help a digital makeover aimed at giving its airplane designers and software developers more tools. Multi-year agreement. It would make sense. I mean, if I was a big company like this and I had the ability to say, I'll give you all my business. You know, you hedge your bets a little bit by going on there. Now, we'll take a look at Boeing shares. Amazon down with the market down 1.9% today. Boeing shares down 2.5%. Here's what I'll say about Boeing. You're looking for some Boeing action. Keep this channel on your charts, folks. 171, maybe 172. It's only about 6 bucks below where we're trading out right now. That's an area that I would look at Boeing. We've gotten a couple bounces on the lower trend line for Boeing shares from there. Right now, we're trading at 177.68. Let's jump back to JetBlue. Is there going to have to be actually the next we'll see. So, we're in carnival. Down 4.3%. Carnival. Stay tuned, folks. We're going to come back, talking some forex, talking some crude oil with our man Teddy Kegs that. We'll be right back. 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. 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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. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Welcome back folks. We have the S&P's dropping a little bit on the open. We're negative by 49 points. That's 1.08% in the red right now trading at 44.70. Let's jump over to our man, Teddy Kegstad. We talk to Teddy every Wednesday folks at 40 past the hour. You can reach Teddy every trading day at his website, 4x-trading-unlock.com. Teddy Kegstad, good morning. Good morning Tommy. We got a lot to talk about. There's some great trends going on in the currency markets. Where do we want to kick things off, Teddy? Why don't we start with Europe and we'll work our way around the world and I'm going to explain how you can trade the divergence that's going on with the major crosses right now and actually ride these trends. We'll start with Europe and Euro-US dollar. I'm along it. I see there's nothing but weakness going on with the EU. The same with the US dollar, Swiss. I'm along that because the Swiss also is going to be under pressure. I don't see that ending for anytime soon, especially what's going on with the environment. We have the Treasury bonds that in the past four weeks have dropped 15 handles making newer move lows today. So US dollar strength is definitely hurting those currencies really, really bad, especially because of the Ukrainian-Russian conflict. The pound US dollar, however, that's the divergence. I'm along that one because between oil and the interest rate thing, it's not as heavy on that one plus because of Brexit. Remember we talked about that for two years and if anyone wants to know what the implications of that would be, now you can see their sovereignty, how that's actually helping them. It's holding up their currency. It's helping their economy and they're not taking the blunt of this of everything that's going on with the Ukraine and Russia. So in the dollar index, that's why you have a lot of it right now. It looks like it's kind of basing. You have this flirting with resistance, flirting with support. That's because the Euro is the biggest component. That's where the strength is coming in in the dollar index. But then you have the pound that actually is kind of going the other way, obviously. So that's restricting the dollar index from upward movement. And now we're going to bounce around to Asia and see how this is why the dollar index is becoming really hard to use as an indicator and you really have to watch the trends of what these individual currency crosses are doing instead. So US dollar yen, we know we've been talking about that for a long time. I know you guys love it because of how it impacts the market. That is still a bull. We talked last week about how the bank of Japan has a 130 price target to support the currency. We had a buy signal going on there a couple days back. I'm long on the currency again looking for new move highs. Now this is where you can really play the divergence in the markets. So in the Asian zone, the Australian dollar is a bull. That market had bottomed out a few months ago because of the rising commodity prices and demand for them. It's really strengthening their currency. The interest rate factor is just slowing the rally for the Australian dollar. So now the great play now is the Aussie yen because the Aussie is strong versus the dollar and it's in a bull trend. The US dollar yen is an embarrassed trend so that makes Aussie yen a bull and it's flirting with new highs. I think until the yen hits US dollar 130 mark, you're going to see that trend continue. It's a great rally to chase into and look for newer move highs. I think that the velocity of that move is also going to give you a lot of reward compared to your risk, especially if you're risking the last swing lows. And the same is for the pound yen also because since the pound is relatively stable versus the dollar and not a bear and the yen is collapsing versus the dollar, the pound yen trade is also a really good bull. So that's my little walk around the currencies and now I'll give you the question now. No, that's great man. I was just letting go with it. It is pretty amazing and it makes sense. You lay it out when you got strength on one, you got weakness on another you pair those and of course it's going to accelerate things. When you're looking at these pairings, Teddy, for people not familiar with forex because I'm not familiar, I really don't trade too much forex really at all but of course it's important for how our markets trade but when you're trading these, are you constantly looking for these types of setups where you're trying to find maybe the weakest versus the strongest as in are you trying to look at like a pound yen or a pound or an Aussie yen versus kind of we're so used to it and you make the great points tell me what the dollar index is doing but it goes so much deeper than that. You're trading the euro dollar, you're trading the pound dollar but as a forex trader, do you focus on these types of pairings trying to find the weakest and the strongest? It would make sense but I don't want to say there are these liquids. I know the forex markets amazingly liquid but what do you go through when you look at something as trading like the euro dollar which is just one of the marquee pairings out there versus something like a Aussie yen or something like that? Sure, that's a great question and you know what? The answer is really simple. It is exactly that I do look for the trends in the other crosses because that helps no matter what, you've heard me say it before that the best indicator of the market is the markets themselves because that's in real time so just like how I laid out those trades for the end trade of the dollar versus the pound and also the Aussie because of those trends that's how I put myself in those other crosses. It's a triangle so you know that when you have one broad-based trend that you can count on we know that the US dollar yen is obviously in a bull market higher move highs, higher move lows it's been going that way for months and then you know now also that for instance like the Australian dollar that bottom versus the dollar already months ago so that was a bear and no matter what you can't say it's a bear anymore it's because it's been a bull for months so writing those once you have that at least intermediate and short-term trends that are confirmed higher move highs, higher move lows then you look for and that's why I said we had buy signals in those currencies so for instance last Friday and last Thursday you had a buy signal in the US dollar yen so that means we're looking to go back up and check challenge resistance we also had a buy signal in the US dollar yen so that means that's going stronger versus the dollar so that means it would overtake the yen so it gives you and then also in those crosses you had a buy signal simultaneously so when all three of those have signals that go off then it's like the golden moment where you're like okay the big money has all turned when it comes to that quadrant because remember there's other crosses like there's other ones have the same differences as well so where you might see a consolidation say in the US dollar sector in one of them and only trending in the other those other ones will be trending so there's always a move somewhere there's always a bull market somewhere there's always a bear market somewhere so that is exactly how I do look for those trades at least to get me in the frame of mind am I looking to be a buyer or a seller which is the right side of the market to be on it makes sense because you basically got the equation in terms of a pairing and yeah why not have both trends on your side in that pairing back to the dollar yen real quick Teddy because I know we got a bunch of traders out there you gave us some great insight last week talking about the Bank of Japan you referenced it again saying they're kind of drawn the line of the sand so you're a bull we got it at $123.86 where do you start to get a little hesitant if you are looking for an upward move since you have the Bank of Japan over there talking about maybe capping that at $130 if you're riding the long you don't want to try and pick a top that's for sure never try and pick a top or a bottom I'm looking to start taking profits around $127.5 to $128.5 and then see if it can get to $130 but I'm laying off the position because I don't see it accelerating if it goes above $130 I see it being a radical spike where if you don't get out right away you're going to be all of a sudden wondering oh now I got stopped out and I could have made at least a couple of dollars off of it 30 seconds Teddy we got crew trading at $101.23 what's your take on crew where we go I think we're going to be chopping around between $100 and $115 for the next couple of weeks sounds good man that's a great insights man I appreciate you walking us around all those pairings I know the listeners appreciate as well and boy everything every week Teddy we got a whole new market by the time I talk to you we'll talk to you next Wednesday man take care Tommy have a great day you too Teddy stay tuned folks we'll be right back to finish up the show 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 you might think that if you want to be successful at trading in the stock market you're going to need a crystal 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Petersburg the target first mortgage program pays 7% per year paid monthly for more information you can call 877-518-9190 that's 877-518-9190 this segment is brought to you by thinkorswim for more information just click the thinkorswim banner on the front page of tfnn.com welcome back folks we got the s&p's right now negative by 52 points that's 1.14% in the red right now like 100 negative more than 2% 14,522 the two numbers are going to spit out at you well we'll put it back on the s&p number I'm looking at the 382 from this entire run up folks 4435 in the s&p we're about 30 points away from there remember 2pm eastern time today we get those fed minutes be interesting to see how the market trades into them and then how it trades out of them at 2pm eastern time what else we got going on one week from today folks here's what happens coming up next and he is going to be doing a subscriber webinar for opening call subscribers now here's what I'll say opening call subscribers you of course can attend this for free it is going to be in discord we encourage you to join discord if you haven't already all newsletter subscribers at tfnn gain free access to the tigers den now so you can join discord and folks if you have not tried out basil's newsletter yet it's a great time to do it excuse me you sign up for his newsletter 30 days of the opening call you gain access to the webinar he's doing a week from today April 13th 90 minutes from 4 till 5 30 that webinar will be archived so if you can't attend live you can view it on your members page at tfnn you also gain access to a bunch of archive webinars basil has done in the past you get that all for 30 days folks all new subscribers get a 30 day money back guarantee so you got nothing to risk check out the opening call it's going to be awesome it's going to be the first webinar that we're doing in discord as well and it's just so easy man you can attend that on your tablet you can attend it on your phone you can be sitting there hanging out on the porch at 4 o'clock after a trading day watching that on your tablet whatever it is the technology is pretty cool we're excited about it and basil kicks it off a week from today it's going to be an interesting one folks stay tuned we got our man basil coming up next we get the markets in negative territory quite a pullback from yesterday you had S&Ps 45 88 just like that 120 points we give up 44 68 and we're going to get the announcement with the minutes at 2 p.m. eastern time we'll see if they line up with what was talked about yesterday in terms of that balance sheet roll off thanks for joining me folks thanks for starting your day with me stay tuned basil is up next Larry will be doing his program live at 11 o'clock this morning fast market at 12 remember they're talking Microsoft they're talking a little bit Uber on there as well Steve Rhodes at 11 they've waited to my dad Tom O'Brien wraps it up live from three to four thanks so much folks stay tuned for basil