 The following is a presentation of TFNN. The morning market kickoff with your host, Tommy O'Brien. Good Wednesday morning everybody, I'm Tommy O'Brien, coming to you live from TFNN just after 9 a.m. Eastern time on Wednesday. We got about 24 minutes to go until the start of trading and you got markets slightly in the red this morning giving back some of the acceleration we've had to start off the weekend. Boy, you talk about an acceleration, man. From where you were Sunday night, folks, you're talking about, what is it, 229, 239, 237 S&P points to the upside, remarkable when you talk about a two-day period from 35, 71 overnight Sunday evening, it's a straight line shot over a two-day period, folks, and it just kept accelerating right into the close yesterday at 38.08 overnight. We've given back about 1%, the S&Ps right now, you're off by, yeah, let's call it 1%. NASDAQ 100. You're off by 1.13% right now, NASDAQ 100, you're charging higher by almost 800 points from Sunday night. Dow right now, up about 1%, excuse me, down 1%, all the markets, down about 1% right now. Dow hovering just above 30,000, 30,071. We go from 28,600 to 30,400, how about 1,800 Dow points? The Russell this morning, down about 1.3%, Bitcoin hovering right at about 20,000. We got crude. You talk about a bid, man. Since we come on the air, look at the volatility right now in crude. Folks, that's the 905 bar. Let's put it on a minute to see the volatility, even as we speak, about 630. We have a little bit of volatility from 86 to 87, back to 86. Right now, we're trading at 87.42. We'll be talking our man, Teddy Kegstad, at 40 past the hour. We talk a little bit of forex. We always talk a little bit of crude, crude, bouncing off those recent lows, back to about 87.37 of the price of crude. Gold contract, talk about some volatility, man, gold, put it on a 15 minute. You see the acceleration from a week ago at 16.22, up to 17.38. We're backing off a bit along with other stuff today. A lot of red on the board. Gold, down about $11 right now. We jumped to notes and bonds. We got lower price in higher yield coming at you. We're a full point off of where you were just yesterday, man. The moves in the tenure, folks, if you want a return to market stability, pay attention to the notes and the bonds. And volatility is a trader's best friend, OK? So you can get used to the volatility and like the volatility. But if anybody tells you that the bear market's over, we're through the worst of it, right? Inflation has passed. The Fed is starting to consider that they've reached the point that they're restrictive enough. If anybody says any of that, right? Say then, why the heck are bonds trading from 1.10.19? These are notes to be exact. 1.10.19 up to 1.13.30. Down to 1.12.23, folks. There is a lot of volatility and unknown in this market. You check out the daily on the tenure. And yeah, we're getting quite a bounce, man. But boy, you talk about the move that we've had. You talk about a bounce, folks. We're going to take a look at some of the 3.8.2s on these charts across the board right now. You take a look at the tenure. Folks, you're talking about a 3.8.2 could get us as high as almost 1.15 in the tenure. And that would just be a bounce. It's a healthy bounce still within a downtrend move. When you trade it from 1.22 now to 1.10.5, we'll call it. You're bouncing. But this morning, we're giving back 25 ticks right now. We got a little bit of rising yield. And we jump over to the volatility index this morning. The VIX trading at 29.60. And yeah, you look at this chart, man. You look at this chart just from this calendar year. Okay, so that is the chart I'm looking at as a daily, folks. It's talking about the VIX. And we're talking about the spikes we've seen again. This is just this year. This isn't talking about comparing it to the spikes during COVID. These are the spikes that have occurred as we've had market sell-offs to do with inflation, the Federal Reserve hiking, now fears of a recession coming into the economy. And yeah, folks, I would say, what'd we get? 34.88. I'm gonna have to put that on the mark. 34.88 seems like a pretty reasonable spike on the VIX. When you compare it to the four previous spikes we have had, 35, 36, 37, and 38. And where do we get to? 12 pennies shy of 35 on this spike. And just like that, we're back to 29.64 right now. On the volatility index. All right, let's jump around to some of the fundamental news we got. We get non-farm payrolls on Friday, 48 hours from right now, and ahead of that we get ADP. So ADP adds 208,000 jobs in September, better than expected. The market was looking for about 200,000, so pretty close to in line. Ahead of the upwardly revised 185,000 in August, trade, transportation, and utilities, 147,000 of the 208. It's almost all of it. Professional and business services, education and health services, posting large increases as well when you get into it. Yeah, transportation was the big number at 147. Professional and business services, 57. Education and health, 38. Leisure and hospitality, growing by 31,000. The losers, okay. Services sector, information declined by 19,000. Financial activities, 16,000. When you talk about the size of the companies, okay. Companies with employees from 50 to 500 added about 90,000 jobs. Large firms added 60,000, and small businesses added 60,000. So pretty broad strength on that number. Now here's what I'll say about this number. I was watching Bloomberg earlier this morning when it came on, and Mike McKee, who does a great job at Bloomberg, I think in talking about some of their economic numbers when they break it down. The way he introduced this number was interesting to say the least, and I'm gonna summarize it, and I might get it slightly wrong with the words. And this references it, okay. Though ADP revised its methodology over the summer. Yeah, this is still shy of the count. And what Mike McKee said is, I'm not sure if it's gonna matter to the Friday number because they revised their calculations for the ADP number, and we're not sure exactly how those play into the Friday number, so what do you have? You have this number getting reported all over the Wall Street, right? And basically it comes with a disclaimer at the end that goes, well, they revised how they report these numbers, though, and we're not sure how that impacts exactly how it's related to the non-farm payroll numbers on Friday. Point being, folks, okay, we'll see where Friday comes out, non-farm payroll number gonna be a much more important number than this number. But nonetheless, you're still adding about 200,000 jobs right now. Now the number for Friday they're looking for is 275, these numbers can differ greatly even before they revised their methodology prior over the summer, so we'll see how that happens. Friday's gonna be a big number, folks. We're gonna get the jobs, of course, but we're gonna get wages, we're gonna get inflation data, all the rage these days as we check that out. The other big number out there this morning is mortgage applications. Shouldn't be too surprising if you're paying attention to rates, folks. I was talking about it Monday on my program, and thanks to our man Basil Chapman, he just did a great program at eight o'clock, filled in for my program yesterday. I appreciate that, Basil, doing two hours outstanding program. Total mortgage applications fell 14.2% last week compared with the previous week. Folks, when you're seeing numbers are 7.5, I think we've reached the jaw-dropping stage of mortgage rates. Refinance volume dropped 18% for a week and 86% lower than the same week a year ago. I said it before, I'm actually surprised it's that high and I'm not even kidding. Who's refinancing right now? 86%, okay, it should be 90 and 95. Who is refinancing right now if you weren't gonna refinance a year ago? I know what happens, folks. People have life instances, right? Maybe you just need that equity out no matter what. Whatever it is, there are instances that it does make sense for whatever reason that you'd be refinancing right now and it wouldn't make sense a year ago. But the numbers for refinancing are staggering when you're at 7.5%, folks, okay? And even for mortgage applications, they're pretty stunning. I talked about it on Monday, as I mentioned, but boy, you're talking about 7.5% mortgage rate. If you're taking out a $500,000 mortgage, quick example as we go to the break, we're coming back with our man, Kevin Hinks. $500,000 mortgage, folks. Right now at 7.5%, it cost me $3,500 bucks a month. At 4.5%, that $500,000 loan was costing you $2,500 bucks a month. $1,000 on a monthly basis. We've gone from 4.5% to 7.5%. Stay tuned, folks. We'll come back with our man, Kevin Hinks from TD Ameritrade Network. Be right back. Mr. Gold owns and operates the largest undeveloped gold project in Australia, the Mount Todd Gold Project. Mr. Gold just completed their feasibility study, resulting in a 7 million ounce gold reserve. Mr. Gold has all major permits approved and has retained CIBC Capital Market Assistance in evaluating alternatives and in completing an accretive transaction. Mr. Gold trades on the NYSE American and TSX under the ticker symbol VGC. Mr. Gold executing a strategy to create shareholder value. 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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TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours, the Tiger's Den, available to all Tigers and Tigresses for just $1 for the year. There's no catch or added costs when you join our community of traders. Sign up today to become a part of this educational community of traders. Just visit the front page of TFNN.com. Come back, folks. We have the S&Ps right now. You're negative by 45 points off 1.2% trading at 37.58. We get the Nasdaq 100 off about 1.3%, but boy, quite a two days to the upside market. It gives it back a little bit to kick off Wednesday trading. Let's jump over to our man, Kevin Hinks. Every trading day, folks, at 12 noon Eastern Time Fast Market on the TD Ameritrade Network right here on Tiger TV with your host, Kevin Hinks, Tom White. They do an outstanding job, folks, of breaking down the day's market action. They walk you through hypothetical trade setups. There's usually three trades throughout the program. They're all talking about options. They're all talking about defined risk. When, man, we got market volatility that I have not seen maybe in my lifetime, man. Yeah, in my lifetime, but not my trading lifetime. Kevin Hinks, good morning. Good morning, Tommy O'Brien. Do your voice. Glad the O'Brien family is safe and dry. We lucked out, Kevin. Those poor people, man, in Fort Myers, Naples, I'm sure we've all seen it. Send some love, some prayers out to them, folks, because, boy, it's a little bit of a wake-up, and we know where we live, Kevin, but when you see it happen, man, they hit the host. I mean, folks, it was the luck of the draw, and it could have been anywhere on that coast, man, and it just hit down there, and we lucked out, and they'll be all right. They'll rebuild, but, boy, quite a scene, man. Mother nature, nothing like it, for sure. And nothing like these markets right now, Kevin. I didn't get a chance to chat with you yesterday. I know our man Basil Chat moves in, but if you can give us a take, man, quite a run for the two days. You get the markets off 1.1, 1.3%, but, boy, Kevin, compared to the last two days, this is a blip of a pullback. Quite a two days in the market right now. Yeah, some economic data that just, and some comments out of the United Nations that made the dollar weaken and made yields weaken, and that was very friendly to stocks in general. So we had, some of it was oversold. We had been talking about that for several days, Tommy, how the market was oversold. So yeah, this was a snapback rally that was pretty big. Now, after two days, we're starting the day in the red here to start the day. So we'll see how this day finishes. The economic data was interesting. Mortgage apps, because of Florida, there's disruptions in mortgage applications. 31% drop in the state of Florida in terms of mortgage apps from Hurricane Ian. So that skewed the numbers in mortgage apps. ADP was a mild beat, but a big revision the last month. And so an international trade, the trade deficit coming down slightly. So, but with everything that this market has certainly been digested over the last two days, we're at least starting the day soft, but we'll see how this market, we'll see once this market opens, Tommy, if there's any more buying still out there, it can be an interesting day, but a soft opening to start. Yeah, two big days and a little bit of a give back as traders not out of the realm to see a give back folks when they get that type of a move. I mean, S&Ps, I think we're talking about 240 points almost 230 points to the upside over two days. We got the ADP numbers as you mentioned this morning, Kevin, that is ahead of the non-farm payroll numbers on Friday. Does this market come into that Friday number now as we chop around a bit? Because I am anticipate that a lot of eyes, especially as we get into tomorrow, all going to be focused on 8.30 a.m. Friday morning Eastern time. The information, that's why I refer to it as the biggest data point of the month. I mean, we'll get some inflation data. We'll get some overall strength of the economy. We'll get a labor force update. So there's a lot of information in the market, certainly running up into that. But today, OPEC will come out with news, any, I think it's any minute here within the next hour or so we should get some news out of OPEC that Crudall has run a long way. But now Crudall's higher, the dollar's higher and yields are higher to start the day. That's a pretty tough barrier to overcome. Yeah, and as we come into that jobs number, we've talked about it before, man. The number one data point of the month that we get, especially I guess as you're looking at the context of where we are right now with the Fed with inflation, of course, the numbers we're dealing with, is there anything, Kevin, and this is like the million dollar question, right? In terms of, we're waiting for potentially the next Fed hike, which maybe it's 75 right now, maybe the next one is 50. And not to say where is the turning point because who knows, folks, it's great getting a lot of input in terms of where that turning point is. But Kevin, in my opinion, it's like we're gonna take, and the Fed has said it, they need to see some concrete data, right? So just kind of going a little bit big picture here versus just the Friday number and et cetera. Do they have like a couple months here where they're gonna, you think, maybe let the data speak for itself because really it has not been indicative of inflation peaking just yet, in my opinion. Or is this something that you could really see when we get one data point, you're gonna see it? I mean, yesterday, I kind of was amused, Kevin, the last couple of days, I saw a couple of headlines out there saying, something like market accelerates on a lot of rhetoric or a lot of thinking that maybe we've reached peak rates, right? And then this morning I'm seeing headlines that rate volatility causes market to pull back. I guess the question is, at what point in time as we as traders, would you, I'll ask you, because it's your opinion, would you as a trader start to think that the data might give the Fed the ammunition they need to maybe pause, to maybe think about it? Are we a few months away from that? Could we get something like that? If we get some big numbers on Friday, in terms of maybe wages coming down, maybe the inflation not as big, where are we, in your opinion, kind of on that time horizon that we really could get a shift? Are we a few months away really? Because I think we've got at least a few months where we need some data to really back up the Fed. What's your take on that timeline as we come into the end of the year? Yeah, well, as you know, Tommy, there's a lag in the data, right? And go back to the March meeting, which is really one of the first big moves in interest rates that we saw. If that, those move in interest rates are starting to hit the market about six months later, then maybe, it's hard to say this. It's counterintuitive to say this, but you need a weakening job market. You need a number that is softer than expected, showing some weakness in the overall economy if you want stocks to go up. If the economy comes in too strong, yields will go higher, the dollar will go higher, and stocks will go down. It's just really that simple. So if you're cheering for stocks to go up, you need a soft number that shows that these interest rate rises are starting to work. That's a great point, man. That's why I asked the question. It's quite a time we're living in when that's the way that the relationships are working right now, but boy, when we got inflation where it is and we got an unemployment number where it is, and we got a Fed mandate for price stability, folks. Remember, price stability and full employment. Right now, it's hard to argue not at full employment and hard to argue or at anything close to price stability with where they are. With that in mind, Kevin, what are you guys talking about at 12 o'clock on Fast Market coming up today? As you know, Tommy, we're in that chasm between the end of earnings season and the beginning of earnings season. So we'll work on themes. We don't have the theme yet. I don't have anything for you, but it'll be a theme on stocks that are in the news right now. Nice, and check it out, folks, because yeah, it's October 5th. We're gonna be coming into earnings in the next week or two. But I like when you guys set up these segments, Kevin, because I've learned a lot from you guys placing those trades geared around earnings events. But I do like when you set these up, because sometimes you have a little bit of a longer time horizon. And folks, you can go out as far or as short as you want on options, depending on your market opinion. When you're talking about volatility, you're talking about volatility premium priced into those options. So we look forward to it as always, Kevin. We appreciate you taking the time on a busy day and we'll see where the day goes, man. Always an adventure. You have a great one. We'll be watching at 12 today, Kevin. Thanks for having me on, Tommy. You have a great day. Always a pleasure. Folks, tune in every trading day, fast market. And boy, what a name. We got a fast market. That's for sure. Stay tuned, folks. We'll be right back for the opening bell. With booming inflation, we are purchasing powers eroded. 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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 get the S&Ps open up and down about 42 points right now with 37, 60, and again, folks, in terms of where we are, all we're doing is we're trading right back into where we were almost at 130 Eastern time yesterday afternoon. That low was 37, 66, so we just dipped below that low right now, and you did have quite a charge higher for the final two and a half hours of trading yesterday but the market had given it back a little bit. So job openings, yesterday, plunged by more than 1.1 million, taking a look. So this is yesterday's data, okay? Job openings, we got results yesterday. August, 10.05 million. That is a 10% drop from the 11.7 million in July and more than a million less than expected, okay? So as Kevin was talking about, man, we are now almost seven months past the Fed when they began and literally began, not when the market knew that they were coming in for a hiking cycle, okay? We're seven months after they literally hiked, okay? They hiked in March to go back to exactly what we're talking about here and boy, you got quite a rally off the heels of that hike, okay? Think that was it. Yeah, there it is, March 15th, okay? Now, what's remarkable is you were at 4,100. The market said, oh my goodness, we go from 4,800 to 4,100 in anticipation. You get a relief rally up to 4,600. You talk about a second chance to get out folks, right? You talk about a third chance to get out at 4,311. And yeah, coming into the CPI data from September 13th, we were close to 4,200. Right now we're sitting at 3,765 but that is where things began. March 15th, okay? And we got quite a relief rally on the heels of that first hike. That is when they hiked. So you get the jobs number. We plunged by 1.1 million in August. Now I'm gonna bring in a tweet from Liz Ann Saunders. I think she's Charles Schwab, right? I was looking this up. Yeah, Chief Investment Officer for Charles Schwab. Now, when you look at this on a month over month basis, right? This is the kind of stuff that the Fed will be looking at. Not the number one data point, okay, that they'll be looking at, but this matters folks. And her comment is the Fed's goal, coming to fruition, it seems, quote, unquote, when looking at monthly change in job openings rate, okay? Using a six month average, okay? So this is again, monthly change in jolt's job openings with a six month average, okay? You're seeing a spike here that is akin to where we were in COVID. Look at the rollover folks that's taken place right now. You combine that with the loss of 1.1 million jobs. You know, my brain starts thinking about, okay, hold on a second, man. If we got jobs disappearing a million a month from the openings, it's only a matter of time, until you can't just do away with the openings, right? We've seen it happen with the companies, okay? We've seen it happen with public companies. First, they said we're gonna cancel the hireings we had planned, right? Then they said we're gonna cut. First thing you do is you get rid of the possible job openings that you have because they're not open anymore, because you gotta cut and then you actually have to get rid of the people that you already have on the payroll, okay? A million jobs, man, pay attention because that is a big number and it matters for sure. And as Kevin was talking about on the mortgage rates, real quick, because he was referencing Florida, I was gonna talk about that real quick. Yeah, applications in Florida, okay, fell 31% compared to 14% overall. So that 31%, dragging down the 14%, you know, you take that out of the equation, you take up the storms, I wonder how it affected the Carolinas as well when it ripped back into the Carolinas after going on to the Atlantic, nonetheless. Now, what's interesting, finish up the conversation when you talk about mortgages, adjustable rate mortgages. Can't argue there, man. You know, I'm not sure, locking in 7.5% for 30 years is the way to go. And remember folks, you always have the ability to refinance, okay? But variable rates, adjustable rate mortgages, that share of activity increasing to almost 12% up from almost 8% a month ago and at around 3% at the start of the year. My question is, who is buying an adjustable rate mortgage at the start of the year, one out of 33 people that were getting a mortgage were? Not sure what would inspire you to do that, but nonetheless, people make their decisions and that's how it happens. Okay, so let's jump around, see how the markets are opening this morning. We got the S&Ps, a little bit of a bid off the open right now, down about 1%, 8-tenths percent, we'll call it down 32 points, you get the NASDAQ 100, you're off 1%, right now 11,524, the Dow off about 8-tenths percent right now, we jump over to crude. As Kevin was mentioning, maybe getting some OPEC news as we speak. Now the headline, oil holds surge as OPEC mulls biggest supply cut since 2020. And yeah, we've been climbing into this number, okay? Just like I showed you on the Fed number for March 15th, folks, many times, right? Buy the rumor, sell the news, okay? In the Fed's instance in March, it would have been sell the rumor that the Fed is gonna hike and buy the news that they're actually doing it, right? In terms of the market. Well, we'll see where oil goes once they actually announce what they're gonna do. Two-day surge is what oil has been doing, man. Near 87 bucks a barrel, we just looked at it, that's the chart right now, and we're talking about an OPEC plus cut. They could be, excuse me, I want to get the number, because you're looking at at least potentially a million in here barrels a day. Yeah, here we go. It's set to discuss reducing output by as much as two million barrels a day. The article I was reading on Monday had it at one, we're up to two already. One take here was maybe 1.5, I saw somewhere in there, but nonetheless, we're gonna get some news and crude. That's gonna drive the market, of course. We'll see where crude goes this morning. Gold right now, down about $11 at 17.19. Gold's had quite a pop as well. We're gonna talk to our man, Teddy Kegstad. It's gonna be an interesting day, man, because as Kevin was saying, we got some action in the dollar index. Quite a reversal from almost 1.15 down to 1.10, and just like that, we're back above 1.11 this morning for the dollar, and I'll save the rest of those currencies when we talk to Teddy coming up after the next segment. Let's jump around some of the fang stocks. Amazon quite a two days, man, yesterday. Look at the pop on the open for Amazon, man. They just almost go from 1.18 to 1.20. You traded from 1.11 to 1.23 yesterday. We go to Apple, the big dog. Apple this morning, down about 1%. We jump over to Microsoft shares. Down about 1% as well. We jump over to Google. Google off 1.4% right now. Let's see how Meta is trading. Meta off 1.4%, and let's jump over to the Twitter saga. Check in, why not Twitter? Seems like Elon Musk got a taste of discovery, and some of my friends joking around in text last night and this morning, and there is a validity to truth to this statement, folks. Elon Musk willing to overpay by $20 billion for Twitter just to make sure Discovery does not go forward and his texts come out. Now, I have kid, okay? But there is a certain validity, I think to that truth, folks, that they are getting into thick of discovery, and I'm not sure Elon wants all that, man, in terms of everything going on. Doesn't seem like he has a very sound legal standing point in terms of what's going on, and nonetheless, what's he do? He comes out yesterday, he says, you know what, we're gonna buy him. We're gonna buy him for what I said. We're gonna buy him anyway. Why not? Twitter spikes up to 52 bucks from almost 42 yesterday. You're talking about 20, 22% to the upside. Today, we give back about 2.4%. Boy, if I was a Tesla shareholder, man, I would not be happy with what's going on because sounds like their CEO's got more than he can handle right now. I would want his attention on Tesla, not on Twitter, to say the least, and what's going on? The market's been rallying and look at Tesla, basically right near the lows. Now, Tesla's got their own deals going on, okay? They come out with some production woes earlier in the week. That's hammering them, but still. Right back at Monday's lows versus the market. You see the sell-off yesterday at noon from 255 to 240, okay? Yeah, and that's right when the Twitter saga broke out, of course, okay? The market is not a big fan that he is still fascinated with what's going on on Twitter and you see the pullback, man. We were at 256, folks, when that news came out yesterday and Tesla is trading at 241. Stay tuned, folks. We'll be coming back with our man Teddy Kegstad from the Tiger Forex Report. We'll be talking some forex, some commodities. Come back with us. We'll be right back, folks. 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? 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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 Direction Investments.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, Four-Side Fund Services, LLC. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Welcome back, folks. We've got the S&P down about 40 points right now. That's just off more than 1% NASDAQ 100. You're off about 1.4% right now. Dow off about 9-10% right now. Let's jump over to our man, Teddy Kegstad. Folks, Teddy writes an outstanding newsletter. Every Monday morning he puts it out for his subscribers. He puts out updates throughout the week. When warranted, the Tiger Forex Report, you can check it out under the newsletter tab on TFNN. You can subscribe. It's $97, folks. It comes with a 30-day money-back guarantee. And I'm telling you, even if you don't trade currencies right now, the information that Teddy puts in there on a weekly basis, you see what's going on today, man. We talked to our man, Kevin Hinks. What's the first thing he said? The dollar index, right? What's the dollar index doing? What's the euro doing? Huge moves in the dollar index impacting many of the markets worldwide, let alone our markets, to say the least. Teddy Kegstad, good morning. Good morning, Tommy. Boy, we got quite a week going on, man. We got some OPEC news that's potentially going to break while I have you on the air. Where do you want to kick things off, Teddy? Well, I think the dollar index, since you were bringing that out, we should start with that. Let's do it. Obviously, a lot of volatility. We're getting a little bit of a bounce today. And I think we just hit it. We really hit support pretty hard, but we fell into our downside correction zone yesterday, and now we're starting to find some stability. And I think that's what it is. It's just a correction, especially with the uptick in oil coming now, too. Yeah, some of the moves have just been so large, man. And this goes for the market as well, but we're seeing it really in currencies, especially since the beginning of the calendar year. The moves have been so large in one direction that you get pullbacks that do seem large, but in the context of the moves we've got, we got the dollar trading from 115 to 110, well, we were just trading at 104, as recently as almost less than two months ago. So some pretty big moves there. In the dollar, we have the Euro, Teddy, we can jump around pushing 98, 99. Let me pull it, I said typo. We just got back to parity a little bit. I got a trend line, man. The trend is lower prices, lower lows, lower highs. How does that translate to the Euro? Obviously pulling back, but where are your projections here? As we just bumped up to parity again, and we're just under 99 right now on the Euro. Right. Well, I think that the pullback that we had, it was a corrective rally. I mean, the bonds in the tenure, they rallied. So what happened? The dollar sold off, you know? I mean, when you have such extremes bouncing back off of lows, you know, I mean, even look at the S&Ps, everyone's like, oh, they've got a nice rally and everyone's getting all bullish. It's like, okay, we're coming off a brand new monthly, weekly, and daily lows. It doesn't mean we put a bottom in yet, you know? So, you know, and it's same thing as with the interest rates. You know, I mean, they slammed so hard through support, you know, even after the Fed meeting that a correction, you know, we've spoke about this two weeks ago because we didn't speak last week with the storm, you know, about how a correction is due. You know, why wouldn't it? Because we don't have a Fed meeting until November. We know no matter what a three quarter point hike is on the table for the next two meetings, you know? So, I mean, and I heard you talking about, you know, some of the whole jobless numbers, you know, with ADP, you know, and also as far as job openings, which was funny, because when I first heard you talk about that, I'm like, well, we have to talk about the employment number because that's the crucial thing that you can see now is the availability of jobs is just crashing right now, you know? So, when you combine, remember, I talked about this a year ago, that all your economic numbers are gonna start to really come into play with your bonds and your currencies. Well, we've had the CPI, the PPI, and all these other inflation type of numbers that really have been guiding the trends. Unemployment, even through COVID and whatever, has been pretty much under control. Now, we have the issue is, is unemployment truly going to stay low? Doesn't look like that's going to happen because the number of jobs to open are decreasing, you know? So, and I think that's good. That was quite a number. You see, I agree, man, that was quite a number. You know, if you're not paying attention to it, folks, a million jobs on the miss, and then, yeah, that's gonna matter, man, for sure. The dollar index is gonna move huge off of this number, I think, on Friday. So, and Thursday, especially, too, I think it's gonna really start to spark some volatility. You know, I mean, not like we don't have that already. It just keeps going, though. I know what you're saying, man. It's like, the next data point is lining up, and we got a big one coming up Friday, for sure. Let's jump to the yen if we could for a second because we have some big action here, you know, for the dollar, the euro, the pound, maybe we can pull up after the yen. But the yen, boy, we're just pushing highs even after the intervention, man, so much for that pullback. The yen, you know, doesn't look like the other charts right now, Teddy. Maybe if you can break down, I know you have talked about to the listeners, but for those that are maybe new to you, new to the segment, when you talk about the yen, because we got a lot of gold traders as well, and that's always a big one out there, kind of the difference maybe in the divergence going on for the yen chart that I have pulled up right now that we're pushing that 1.35 limit again versus what we see in the charts, like the euro or the dollar, for instance. Right, right. Okay, well, the yen absolutely now, two weeks ago, you gotta remember that was when they did the midnight move pretty much and everything started to spike around. I mean, you made new highs and lows in a big way. Now we've been pretty much, we had such a radical spike, we've been absorbing that for the past two weeks. I mean, you've seen a lot of volatility and trending action in the pound, the euro and the other currencies, the yen has been very, very tight. I mean, and talk about, I mean, I don't know what trader, whether you're directional or a range trader has made any money in the last like week and a half trading the yen. But that being said, I think that this is just the plateau before it explodes to the upside again, because no intervention by Japan is gonna be that significant, that's gonna counteract what we know our Fed is doing. I think the employment number, especially if you start to see the 10-year go offer and the 30-year go offer into Thursday and Friday especially, and that meaning where they just kind of spike around, but where they really lay on the offer and push new monthly lows, I think you're gonna start to see the US dollar yen and start to explode to new highs again, especially with oil going on the way it's going. I mean, you gotta realize, I mentioned, I heard you talk about the 2022, 2020 when OPEC pulled back on production. You know what counteracted that? Russia dumped all kinds of oil on the market and oil actually went down, remember? So, but what do we not have this time? We don't have Russia to come to our aid. We're blocking Russia, you know? So the oil trade I think is gonna explode. Remember, I've been saying as we head into the fourth quarter in winter time, what happens with energy prices? I can see oil back above a hundred and pushing that 120 area high for sure, easily within the next couple of months. Maybe that 150 for Christmas will be what we get, $7, $8 gasoline at the point. And you've talked about just in so the, that helps the dollar immensely, especially versus the yen because we are producers of crude, right? Is that how that perfect? And the petrodollar impacts that too, that effect of it. So you have interest rates, oil and the conversion. And we had a question at the end, and we talked about it, what exactly was it? Was that the Bank of Japan intervening? I forget the exact terminology, or what was that, Teddy? Was it, the question at the end was, did the Bank of Japan intervene to support the yen? What was it, and I have it up on the chart, you know, with the spike, but what was it exactly that they come out and say? Was it their, what was it exactly that happened on that day? Okay, yeah, that's the funny thing is, is that everyone's like, they intervene, they really didn't intervene. They just put in a bigger stance than they did a couple months ago. Remember when they drew the line in the sand at 1.30? Yes. This is what they did again, but only in a more severe way, because when you break down everything that they said that they may or may not do, ultimately they're gonna still keep buying their bond market. So there's nothing that they can do, you're not defending your currency if you're defending your bond market. It's a tug of war and it goes nowhere, you know? So it was a lot of encouraging speak, but that's all that was. Boy, it got erased on that chart within two days, and then it's just been chopping it down. Oh, it was at Pearl Harbor, I got nailed that day. Made the new highs and crashed me at a $7 range that day. Oh, wild stuff on the charts. Teddy, I appreciate you taking the time, man. We look forward to talking to you next week, as always. Have a great week, brother. Okay, check out the Tiger Forex Report folks at TFNN. We'll be right back. TFNN has just launched their new trading room, the Tiger Zen, 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. 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 Pesavento 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. We give the markets pretty much right where we kicked off the program. S&Ps down about 38 points right now, NASDAQ 100. You're off about 1.3% right now. Interesting when you take a look at the S&Ps, right? On a Fibonacci basis, folks, all we did is we got a 382 bounce, man, of the move we've had since September 13th. You trade from 41.72. Remember that is the CPI day when we got a little bit of a shocker there where inflation has not been tamed just yet, folks, to put it lightly. S&Ps trade from 41.70 down to 35.71. And all we did is bounce to a 382 in a couple days. And just like that, we roll over a bit as we're trading down 1% right now on the S&Ps. Some of the other headlines up there, keeping with the mortgage rates and housing. Toronto, Canada's got some issues, man. Home price is down 17% as sales and listings plunge. When you look at our mortgage rates, we talked about it even in the UK. It's happening across the board, folks. UK mortgage rate exceeds 6% for the first time since 2008. And we talked about our numbers, right, in terms of mortgage rates. We're talking about, now this number has us at 6.75%, okay? But this number, I think they said it's up 140 basis points in just the last seven weeks. Is that what we got? Yeah, I'll have to get it. But I think that was it. 140 basis points potentially in the last seven weeks. And as I said, folks, when I kicked off the program, I did some comparisons on Monday. The numbers are pretty staggering in terms of how that translates to a monthly payment. Not sure which one is gonna budge, whether it's rental prices or mortgage prices. And all the headlines now are mortgage housing prices declined for the most since 2009, right? That's the headline I talked about at Monday. And what that's pointing to is we have about a 1% decline for back-to-back months, right? And that's all it is though. We are at the very beginning of whatever's going on, folks, okay? So keep that in mind, too. Yeah, we'll see what happens, man. It's a dicey market when you got mortgage rates at 7.5%. And you got job openings disappearing a million at a time, folks. Wild markets to say the least. Stay tuned, folks. We got our man, Basil Chapman. He did his program live at eight o'clock. So he's coming up right now. That is fresh data, folks. The market is almost right where it was at eight a.m. till nine when Basil was doing his program. After that, we got our man, Steve Rhodes, live at 11 o'clock, fast marketed, 12 Larry Pezzavento at one, Dave White at two and Tom O'Brien, my dad, live from three till four. Thanks so much for starting your day with me, folks. Stay tuned. Basil's up next. Have a great Wednesday, everybody.