 So we're gonna jump over to our man, Teddy Kegstad. We talk to Teddy every Wednesday at 40 past the hour. He writes the Outstanding Tiger Forex Report, which you can check out under the newsletter tab at TFNN. But today folks, we're gonna talk a little bit of candlesticks. You can check it out a week from this coming Monday, August 14th, August 14th. Teddy's got a Japanese candlestick pattern, stock and option strategies webinar that he'll be hosting at four o'clock. So let's talk about it. Teddy Kegstad, good morning. Good morning, Tommy. Boy, quite a day, man. We can jump into the Fitch rating. I wanna talk about it all, but today we're announcing a webinar. You got coming up a week from this coming Monday, Monday, August 14th, talking about Japanese candlesticks. I know you're looking to tie that to some stocks and options. And I know you've written a book on candlesticks, man, but for those listeners, maybe they aren't familiar. If you could talk a little bit about what that webinar that you're putting together is gonna be about on the 14th. And just kind of maybe some history, Teddy, talking about your book or what got you into candlesticks or what you're gonna be talking about on the webinar. That'd be awesome, man. Sure, sure. So we're gonna be going over a bunch of stocks that are right now live at the time when we do the webinar that have signals that are triggered. So we're gonna go, they could be from all different sectors and depending on the patterns that we're gonna be looking at, we're gonna go over what kind of different trading strategies you would apply. And one of the reasons that I got into Japanese candlesticks years ago was the visual representation is just so much easier and quicker. Most people started out with classical bar charting years ago when I first started doing analysis. And when you're just looking at those lines, things do stick out patterns you can see over time, but visually it's a lot harder to see. And candlesticks are very representative of a lot of things that you can see quickly and judge. So I like that as a tool for one. But also when it comes to identifying the ends of corrections during trends or inflection points where you can take profits, they're very, very helpful for that. And that's what we're gonna go over in the webinar. So like for instance, let's say XYZ that day or it's a Monday webinar. So a lot of times you have patterns that evolve around the end of weeks. And a lot of times on Fridays when we have big numbers especially, like we have unemployment coming up this week. So what we'll do is we'll scan to find out what stocks have different patterns that are relevant in the current marketplace. We're not just going back and saying, hey, five months ago here was a pattern. Look at how this worked out. This is what you should have done. And we'll apply different strategies. One will be like, for instance, if you're already long XYZ stock and for instance, if it's rallying and we have a sell pattern, what to do? Do you take profits or how do you manage your risk of moving forward with that long position as well as different option strategies? What would you apply? Whether they be straddles, strangles, long puts or calls and other different types of option spreads and things like that. That's awesome, man. And it is remarkable when you say it because I can't remember as you were saying that Teddy the last time and I know I'm biased because I've always been into candles following my dad and some of the technicians that he brought on, of course, to TFNN. But yeah, it just seems like that's the only way that I look at charts these days for just like you say kind of the clarity what they represent visually. And then when you put together some of those formations on top of it and they make sense. As in some folks, if you're into trading and you're just getting into it, it's gonna be an awesome webinar folks because some of these candles, I mean I think myself, Teddy, just some of the formations, they speak reasonably as in the candles are speaking reasonably as in there might be a formation like a bullish engulfing or something like that and that speaks to strength. Well, it speaks to strength because what is it, right? It's a huge candle maybe, that's a reversal so you have a lot of buying and stuff like that. So it's not just formations out of nowhere. The candles are actually talking and forming kinda and this is my opinion, but that's why I love following the men. So folks, check it out on the front page of TFNN. It's $97, this is a standalone product so it has nothing to do with the Tiger Forex report. It's not a recurring subscription you're signing up for. It's $97, you'll be in there live with 60 minutes with Teddy a week from Monday. It will be archived as well. I'll be in there Teddy, I look forward to it man. I know we'll talk about it next week as well. We'll probably get you on the air a couple of times as we lead up to that Monday webinar. And now let's get into the market. So what do you think of the action with the credit downgrade? Not too shocking if you've been following the politics of paying our bills but pretty interesting it happens and we get a little market reaction, what's your take? Well, right now I like the way the market's reacting. I think that that is probably back news. I think what you really need to pay attention to are the economic numbers that are coming out tomorrow as well as Friday and you have globally a lot of big things going on. So right now you have a lot of dollar strength and I think you can attribute a lot of that to the rally in oil as well as also obviously the rally in yields. I mean the treasury bonds and the tenure notes are now near their October lows of last year. That 30 year I think is four and a half handles away in the 10 years like, I don't think it's like somewhere around that too from its lows. And remember that 10 months ago, how many rate hikes have we had since 10 months ago? And that's where the pricing was. So I think that especially since we have this tenant leniency right now on the Fed being still leaning towards being hawkishness, that pressure is gonna be there for a little bit to come yet. Now I'd be cautious moving into next week though. So I think what you have to watch out for once again are these numbers that are coming out globally and let me give you the breakdown. So we have CPI for the Swiss tomorrow which is definitely gonna be something to look at because you have the dollar Swiss in a very strong rally right now which is a corrective rally. I want people to know that this is a correction. It's not a bullish market right now for that one. Then you had the Bank of England with the rate decision coming out tomorrow, okay? So that is something that you have to remember that right now the British pound is one of the biggest currencies in the Dix and the Dollar index. That one is right now trending lower. It's in a corrective break. If the Bank of England does react tomorrow which I most likely will, if it doesn't raise rates they're probably gonna do some sort of quantitative adjustment that will be hawkish, okay? So no matter what and either synthetically or directly they're going to be raising rates I would assume. I think that's pretty much on the table. And then we have jobless claims for us in the US. If we see a downtick or a flat number for the jobless claims that means that the Fed is gonna remain hawkish. We need to see an uptick in unemployment claims. And then unemployment on Friday is also the big number for us. And we also have ISM and stuff like that. So we have a lot of big economic numbers. These are all bond numbers. They're all dollar numbers. And remember when it comes to unemployment we used to call it unenjoyment on the floor because when you're trending so strong into a number such as unemployment it's the end of the week. Sometimes it's near the end of the month and what have you. You tend to hit highs and lows around that area. Now am I saying trying to pick a bottom or a top tomorrow? No, or Friday? Absolutely not. But we're coming into a zone where this dollar strength we may see a spike and see a profit taking move in is what I'm saying. Okay, and that's something I think we really need to be paying attention to when it comes to these markets. And if anyone that read the Tiger Forex report this week we've hit almost all of our target zones for these trends that we've been working with right now these corrections. They're coming in, they're coinciding now with these numbers. So for us to have a pivot point and see a turn in these markets for at least a short term for three to five trading sessions at least I think you should be aware of what you're going to be paying attention for. Yeah, I was jumping through the charts as you were talking about it. Some pretty distinct bounces from the previous trends and boy they are trending man. And people talk about it Teddy in general, right? Forex currencies did, in your opinion do currencies like trend a little more than the market even? I tell you, can you hang with us? Okay, listen can you hang with us for the break? Let's let it, we'll finish this conversation folks. We'll come back with Teddy. Don't forget head on over to the front page. He's got his candlestick stock and options webinar coming up a week from next Monday and we'll be back with Teddy. Stay tuned. Welcome back folks. We have markets pretty much where we kicked off the program in negative territory. You've seen a little bit of a slide in the Nasdaq 100 as we're now off almost 1.5% of 15,584. You got the S&Ps off about 910s percent. We're talking to our man Teddy Kegstad and we're talking a little bit of currencies. We're talking some candlesticks. Don't forget about his webinar a week from this coming Monday, August 14th that'll be 60 minutes live. And so Teddy, we were talking about cause people often hear it, right? The currencies, they trend. Why is that? Is it just the longer term perspectives that take place when you talk about yields, you talk about bonds or why is that the currencies tend to trend more than equities? Do you know? Well, I think one of the main things is that currencies are not, they don't have to deal with a lot of the noise that most markets do. Let's take a stock for instance. How much news is there about a stock that even comes out on a daily basis? And how much is it that you really have to filter and figure out? But when it comes to currencies, it's a very fundamental market to begin with. It goes back to, that's why I always say like now you really gotta pay attention to the big economic numbers because those are the factors that drive those markets. Everything else, like opinions and things like that they're just that noise doesn't overwhelm the weight of those numbers. So especially like for instance, we know the Fed is very hawkish, we know most central banks are very hawkish, so that we know where to lean on those currencies during certain times, things like that. We know that the Fed right now is really hung up on unemployment. So how that number moves will dictate what'll happen with the currencies because it's gonna have an interest rate component. Interest rates are a fundamental part of what drives the pricing for any type of dollar where it's US dollar, pound, whatever, what have you. So and the thing is currencies, unlike most markets, trend only 30%, maybe 35% of the time. 70% of the time they're just going sideways and it's just noise. Currencies are the complete opposite. They trend usually for the most parts 70 to 75% of the time. So that's a huge thing for a trader. If you're a swing trader or a trend trader wear your odds of making money when there's a trend and that has the most trends. And boy, we saw that play out like you were talking about as these central banks are on their mission. Teddy, I appreciate the time, man. We'll talk to you next Wednesday. Have a great gray week and we'll talk to you then, man. Thanks, Tommy.