Income tax 2023-2024. Medical and dental expenses.  Most of this information can be found in the instructions for Schedule A Tax Year 2023, which you can find on the IRS website at irs.gov, irs.gov. Looking at the income tax formula, focused on what I would call the below the line deductions, more specifically on the itemized deductions. Remembering that the income tax formula is basically a funny income statement. Income statements typically having income minus expenses resulting in net income. Here having income minus various deductions resulting in taxable income. Noting that for taxes deductions are good therefore we're always looking for more of them. The major two categories of deductions being the adjustments to income or above the line deductions and the below the line deductions, the greater of either standard deduction or itemized deductions. Remembering that the above the line deductions are possibly less common, less familiar, but quite important if they qualify for an above the line deduction or adjustment to income because there's no hurdle that have to be cleared as is the case with the itemized deductions. With the itemized deductions we would only generally be taking them if they add up to a dollar amount that is greater than the standard deduction, the standard deduction being based in part on filing status such as single versus married versus head of household and so on. This is the first page of the form 1040. We are focused down online number 12 where we have the standard deduction or itemized deductions. You can see the standard deduction amounts on the left hand side based on filing status. This is the schedule A where the itemized deductions will be reported if you will be itemizing. First a word from our sponsor.  Like our trust me I'm an accountant product line. Yeah it's paramount that you let people know that you're an accountant because apparently we're among the only ones equipped with the number crunching skills to answer society's current deep complex and nuanced questions. If you would like a commercial free experience consider subscribing to our website at accountinginstruction.com or accountinginstruction.thinkific.com. The categories on the left hand side this is not the full page and this is a bigger glimpse of some of those standard deductions which are generally based on filing status. Single 13,850 married filing joint double that 27,700 head of household 20,800 and then if over age limit and blind you also have these increases in the standard deduction per the filing status. Given that we're now focused on medical and dental expenses. Now just to start off here note the major thing that will often be pushing people over from taking the standard to itemized deduction is not usually medical and dental although it could be if those expenses happen to be substantial for any reason. However usually the thing that pushes people over is the home ownership which could have a significant amount of mortgage interest as well as property taxes. So then if someone is already itemizing then often the question comes in do they qualify for medical and dental expenses which could increase that level of itemization. Now also note the medical and dental is funny because it will have limitations in terms of low income individuals who might not be able to take it because they're not might not be itemizing and some of their medical expenses might be covered by other programs possibly covered by a credits and so on which could complicate things further. High income people who might be itemizing may also not be taking the medical expenses because their incomes too high and the medical expenses also have a floor of the 7.5%. So it's kind of a weird itemized deduction in that case you have that kind of in between area as to when they're going to be deductible medical expenses. So you can deduct only the part of your medical and dental expenses that exceeds 7.5% of the amount of your adjusted gross income on form 1040 or 1040 SR. So we have whenever we think about expenses usually we see a phase out kind of situation meaning you know as income goes up then the amount that we can deduct goes down. Here we have a floor type of situation in that your medical expenses have to be greater than 7.5% of your adjusted gross income before you can take them as an itemized deduction. And of course your itemized deductions have to be greater than the standard deduction in order to get the benefit as well. Caution if you received a distribution from a health savings account or a medical savings account in 2023 see publication 969 to figure your deduction. Now note when we have these different kind of vehicles that are going to be impacting or could have multiple impacts on the tax return multiple benefits. You might get into a situation where you're kind of like double dipping. In other words you might have also already got a benefit from the putting the money into this account a health savings account. So then the question is given the fact that you already got a tax benefit from that could you also include it as a deductible item on schedule A. So for more detail on that you could take a look at publication 969 which you can find on the IRS website. Deceased taxpayer certain medical expenses paid out of a deceased taxpayers estate can be claimed on the deceased taxpayers final return see publication 502 for details. Now when someone passes away that's going to lead to other complications because of course in the year of death they still have to file their final tax return.  Then then the question is if they have an estate what happens is an estate tax is going to be piling the money together for the person that died to see whether or not they have to pay basically a tax on that income which would be a death tax or an estate tax. And then the question is going to be could you know word to the deductions and income lie in the year of death is it going to be part of like the estate that you're going to have on that level or is it going to be on the final tax return. So that gets in a little kind of more of a specialized area when you get into that the estate planning type of situation. More information publication 502 discusses the type of expenses you can and can't deduct it also explains when you can deduct capital expenses and special care expenses for disabled persons. Okay examples of medical and dental payments you can include in calculating your total medical expenses. So clearly once we get into the realm of saying is it worthwhile to have our medical expenses that we're going to be calculating because the general idea would be if they're not itemizing and we have no we're not even close to itemizing. Then it might be the case that we don't have enough medical expenses that are going to push us over because the main thing that pushes people over usually isn't medical expenses but rather the ownership of a home. And so if it's not worth us basically adding those up it might not be worthwhile but if we have a significant medical situation in one year versus the prior year it might be of course worth checking out. And if we did itemize and we are itemizing then of course it might be worthwhile to be adding up our medical expenses to make sure that we're getting our maximum benefit. Once we start thinking about what kind of medical expenses qualify you can imagine people getting quite creative and they have gotten quite creative in the past and you can get into the weeds in this area. And this is one of those areas where you could look at the law and say there's not enough definition in some areas and then you might have even have to go down to court cases and revenue rulings and what not. Because you can imagine a doctor saying that basically anything is deductible. You can get a doctor to say anything after after COVID and watching Fauci out there calling himself science incarnate and whatnot. You start to lose faith that they're actually following the science right so I mean like if a doctor said you could deduct a vacation to Hawaii for medical expenses is that going to be deductible. You know you could you could probably say no that's not going to be deductible but those of it if I bought a jacuzzi or a sauna for my home is that going to be deductible because my doctor said it was going to be something. You can imagine all kinds of these kind of scenarios that are somewhat in the gray area and and then you might have to get into more detail about them but certain things are not in the gray area and are pretty straightforward. So to the extent you weren't reimbursed in calculating your total medical expenses you can include what you paid for. Now obviously if you were reimbursed for the medical expenses then you didn't actually pay them and you would think then that they would not be something that would be deductible. Insurance premiums for medical and dental care including premiums for qualified long term care insurance contracts as defined in publication 502 but see limit on long term care premiums you can deduct later. Reduce the insurance premiums by any self employed health insurance deduction you claim on schedule one. So obviously the big cost for many people is the insurance and so can we deduct the insurance. Now if you can deduct the insurance sometimes you end up with this double dipping kind of problem. And this is another kind of issue that comes up in part because we're kind of veering away from that standard thing that you would think would naturally be deductible if you have an income tax system. In other words normally if you have an income tax system you're going to deduct the things that you needed to expend in order to generate the revenue. As we see kind of for example on a schedule C where we deduct the expenses that we needed to generate the revenue. All the stuff on the schedule A such as medical expenses notice that's personal. We didn't we didn't it's not part of a business expense generally for medical expenses. So when we deduct the medical expenses it's kind of the rationale is something like we want to incentivize people to take care of themselves or nudge people to do this or that. And you end up running into situations oftentimes where the tax code has come up with multiple areas where you might be able to deduct something. So it used to be that insurance was tied to employment right. So it might be something that was deduct that was was done through your place of employment as an employee for a sole proprietor. Then it might be possible for you to deduct the insurance possibly not on a schedule C but rather on the schedule one. And if you can deduct the insurance there you can't also deduct it you would think on the schedule A because that would be what we would call like double dipping to deductions for the same cost in that case. So there's that that would come up if someone was possibly self employed for example and that was their primary income and they weren't receiving health insurance through a W to employee for example. So you can't include insurance premiums paid by making a pre tax reduction to your employee compensation because these amounts are already excluded from your income by not being included. Box one of forms W to. So if you're a W to employee and you get insured through your employer and it's something that is not then taxable. It will already have been taken care of you've already got a tax benefit because the employer will have reduced box one of the W to form which is your income line. And therefore it's already been taken care of and because the box one will be reduced box one of your income line might therefore be different than box three and five of your W to which are all wages depending on whether it be subject to social security and Medicare tax. So you have to be careful of that. Was it already excluded from income on the W to if so then if you deducted it again you would basically be double dipping. If you are a retired public safety officer you can't include any premiums you paid to the extent they were paid for with a tax free distribution from your retirement plan. Prescription medicines or insulin. So there's the other big one you've got the prescription medications that might be a deductible item clearly which you might have to basically keep track of of course to see how much was paid for those items. Then we have acupuncturists chiropractors dentists eye doctors medical doctors occupational therapist osteoporothic doctors of physical therapists pediatrists psychiatrists psychoanalysis. So notice many of these categories like for example acupuncturists and chiropractors were somewhat new into the field. So so there have been questions in the past in terms of how broad a range of professionals would would be qualified in this area. And again this comes up this ends up making a whole issue because now it becomes important to define certain things as medical care and it also could be important to define certain things as diseases and whatnot. Not because that would be the best definition possibly of certain things but because there's tax consequences related to it which again to me is kind of a detrimental outcome because again I don't want things to be defined by whether it be best for deductibility on a tax code and whatnot. I'd rather it be defined on other objective matters but in a case medical examinations x-ray and laboratory services and insulin treatment for for doctor ordered diagnostic tests such as full body scan pregnancy test or blood sugar test kit. Nursing help including your share of the employment tax paid. If you paid someone to do both nursing and housework you can deduct only the cost of the nursing help. So if they're doing you know the nursing work then you might be paying them directly and they're also doing housekeeper work. Obviously the housekeeper is personal information and the medical is also personal but possibly deductible because of the schedule a deduction. Hospital care including meals and lodging clinic costs and lab fees qualified long term care services which you can see publication 5024 the supplemental part of medical insurance Medicare Part B and then the premiums you pay for Medicare Part D insurance a program to stop smoking and for prescription medicines to alleviate nicotine withdrawal again this is another one that's kind of on those fringe cases we deducting this kind of stuff which is like is that really I'm not sure that's kind of like a habit like a disease is a disease addiction disease is obesity a disease or is it you know should it be categorized I don't know. So a weight loss program as treatment for a specific disease including obesity. So here's the one where they included obesity as a disease. Is that a good thing to do if they did it just for taxes because if you tell someone they have a disease that could make their mental state a little bit different than telling them that they have a condition that that is that you know they have more control over maybe if it's not categorized as a disease. Medical treatment at a center for drug or alcohol addiction medical aids such as eyeglasses contact lenses hearing aids braces crutches wheelchairs and guide dogs including the cost of maintaining them. I want a dog I don't think it could. Well if searching to improve defective vision surgery to improve defective vision such as laser eye surgery and our radio correct and I said I need that laser eye surgery. You can get that lodging expenses but not meals while away from home to receive medical care provided by a physician and a hospital or a medical care facility related to a hospital provided there was no significant element of personal pleasure recreation or vacation in the travel. So obviously you have these travel costs that if you needed that if it qualifies you had to go somewhere in order to get specialized care for medicine and so on. But it happened to be next to Disney World so you went in there and and and now so you got to think is it personal or is it business and obviously whenever those two things in this case not business but possibly deductible is it medically related or non medically personally related. And if it's non medically personal related then you have to separate that out in some way shape or form you would think because that part wouldn't be deductible. But you could probably get some doctor to tell you that it was a medical necessity to go to Disney World or whatever and so on as long as you had your mask on. Fouchy be OK with it. So anyway don't deduct more than $50 a night for each person who meets the requirements of publication 502 under lodging. So ambulance service another travel cost to get medical care if you use your own car you can include what you spent for gas and oil to go to and from the place you receive and care receive the care or you can use the 22 cent a mile. Now remember that when we use these mileage rates that the rates are not all the same depending on what you did. So there might be a different mileage rate that you're going to be calculating for medical driving versus a schedule C type of business if you had the business use of your car in that since situation or for charitable expenses for example. So add parking and tools to the amount you claim under either method cost of breast pumps and supplies that assist lactation. So personal protective equipment such as masks hand sanitizer and sanitizing wipes of the obviously they I think they added all that because the COVID thing was a big win. The administration came out and said we are allowing a deductibility of your hand wipes. The problem is solved vote for reelect us based on our that track record of doing that that's going to save that's going to save million. That's anyway for the primary purpose of preventing the spread of coronavirus limit on long term care premiums you can include. So note that when we're looking at insurance the whole insurance landscape gets a little bit complex because clearly we have like the normal insurance. But and then when you get over a certain age you might be in Medicare situation because Medicare is kind of become like instead of it being like a like a benefit program for people that need it or something. Kind of like everybody's insurance over a certain age. So that transition gets a little bit weird and then we have the long term insurance which is is in essence generally different than what we think about as our normal insurance long term care. Typically being something that my understanding something that you're going to need in the event that you can't do the basic care of yourself people helping. You know you need daily care to feed yourself and go you know do day to day just normal kind of activities and so insurance for that which is a little bit different than the normal kind of insurance. So the amount you can include for qualified long term care insurance can contacts as defined in publication 502 depends on the age at the end of 2023 of the person for whom the premiums were paid. See the following chart for details. So here's our chart. If the person was at was at the end of 2023 age 40 or under then the most you can include is 480 but if they're 41 to 50 you can include 890 51 to 60. One thousand seven ninety sixty one to seventy four thousand seven seventy and seventy one older five thousand nine hundred and sixty. Now you would think the general idea of this is if you're younger you're probably the and you look at the actuarial tables. The likelihood of somebody needing long term care care for basic day to day kind of needs and like a facility to help someone out for them day to day stuff is low. Right. And then but then as you get older then you would think the likelihood of that of needing that kind of care is going to go is going to go up right. That would be the general thought process. So examples of medical and dental payments you can't include. So the cost of diet food. So here's where we get into the weeds because again you can imagine people coming up with all kinds of things that they can they can say well my doctor approves this and you can imagine the back and forth that has happened between you know taxpayers and the IRS. So what the first one diet food. This gets into that whole thing with should obesity for example be a disease because if if he qualified as a disease maybe you can write off the food that you buy right which would be a huge expense or of a right of which again I don't think should really be something that's dependent on the tax code to be determining the classification of a disease personally. Cosmetic surgery unless it was necessary to improve a deformity related to a congenital abnormality and injury from an accident or trauma or a disfiguring disease. So again this is another one that gets kind of confusing because you know sometimes you know you can argue as to whether or not something is is necessary care or or not whether it be cosmetic or or not kind of things and again there's a lot of kind of great area. It seems to me in that space as well life insurance or income protection policies. So life insurance is different than medical insurance. Then we have the medic the Medicare tax on your wages and tips or the Medicare tax paid as part of the self employment tax or household employment taxes. So when we think about our normal our normal payroll taxes the money that that's taking out of our W2 wages we have federal income tax we have social security in Medicare and you could argue couldn't say why well Medicare is something that I'm going to get when I get when I reached the age limit to be I'm basically paying for it now so I should get the deduction for Medicare but no because that's some weird thing where it's like you're paying into the social program and so on and and again it gets kind of messy. So nursing care for a healthy baby but you may be able to take a credit for the amount you paid see the instructions for form 2441 illegal operations or drugs. So obviously if you're if you're getting your drugs like illegally or something like that like like from Canada or some other place you know you would think that that might not be deductible obviously illegal drugs are generally not going to be deductible you would think So important drugs not approved by the U.S. Food and Drug Administration the FDA so imported drugs these include foreign made versions of U.S. approved drugs manufactured without FDA approval which means they're cheaper oftentimes because they don't have the FDA approval But of course can't deduct them in that case non prescription medicines other than insulin including nicotine gum and certain nicotine patches so travel your doctor told you to take for rest or a change. So this is one that I gave as an example that you can see would commonly come up with you can convince any doctor you know I need a vacation to reduce my stress and it's going to be a health benefit. Well you could get approval for that but obviously that's one that the argument has been pretty well drawn out and the IRS is basically one you know that argument. But again if you get create if you start thinking about it you can come up with all kinds of questions about medical expenses and so on and and I'm sure you could find many interesting cases about the deductibility of medical expenses. So funeral burial or cremation costs so that is past medical expenses because the medical expenses had clearly failed at that point in time so tip. So if you were age 65 or older but not entitled to Social Security benefits you can include premiums you voluntarily paid for Medicare Part A coverage. So line one medical and dental expenses enter the total of your medical and dental expenses after you reduce these expenses by any payments received from insurance or other sources. You can see reimbursements later if the advance payments of the premium tax credit were made or you think you may be eligible to claim a premium tax credit fill out form eight nine six two before filling out schedule a line one. So the premium tax credit as we'll talk about when we get to the credits means that it's usually for lower income individuals usually that have a high deductible health insurance plan and you might get a credit which is basically designed to pay for part of the health insurance with the credit which means that you would think that you wouldn't get a deduction for the part of the health insurance that was reduced by the credit because again that would be kind of like double dipping you would think. So see publication five or two for how to figure your medical and dental expenses deduction. Now notice if you qualify for that credit it's likely that you're a low income taxpayer and therefore aren't itemizing unless you have significant medical expenses or something like that because your itemized deductions would be below the standard deduction threshold tip. Don't forget to include insurance premiums you paid for medical and dental care. However, if you claim the self employed health insurance deduction on schedule one form 1040 line 17 reduced the premiums by the amount on line 17 which we have discussed before. So who's medical and dental expenses can you include. So now you've got a family and whatnot instead of just one person here is not just me sitting here. Who's can I include. So you can include medical and dental bills you paid in 2023 for anyone who was one of the following either when the services were provided or when you paid for them. So yourself and your spouse that makes sense. All dependents you claim on your return that makes sense your child whom you don't claim as a dependent because of the rules for children of divorce or separate parents. So this is where we get into the weeds when we have the separate parents and so on and so forth. So if you have that that separation thing the question you come up with the same questions we came up with when we saw the claiming of the dependence the child tax credit or other dependent credit as well as possibly with the filing statuses between single versus head of household possibly being dependent in part on whether you have a dependent. So see child of divorce or separate parents in publication 502 for more information. Any person you could have claimed as a dependent on your return except that that person received $4700 or more of gross income or filed a joint return. So that's usually going to be the income threshold that was the only thing that restricted you from filing as dependent. Any person you could have claimed as a dependent except that you or your spouse if filing joint can be claimed as a dependent on someone else's 2023 return example. So you provided over half of your parents support but can't claim your parent as a dependent because they received wages of $4700 in 2023. You can include online one any medical and dental expenses you paid in 2023 for your parent. Insurance premiums for certain non dependents you may have a medical or dental insurance policy that also covers an individual who isn't your dependent. For example a non dependent child under age 27. So that's going to be confusing because now I'd like to deduct my insurance premiums but possibly I have someone on the insurance premiums that I'm being paid in a group premium payment that might not be like deductible. So how am I going to figure out which part of the premium is deductible. So you can't deduct any premiums attributable to this individual unless this individual is a person described under whose medical and dental expenses you include earlier. So however if you had family coverage when you added this individual to your policy and your premiums didn't increase you can enter online one the full amount of your medical and dental insurance premiums. So you had the premiums before and then you added this person because it was family coverage and that person didn't cause the premiums to rise even though you can't deduct the medical expenses for that person because they don't qualify. But including them in didn't increase the premiums which means that you would have paid the same amount either way so therefore you would think it'd be reasonable to still be able to deduct the same premium amount. So see publication 502 for more information reimbursements if your insurance company paid the provider directly for part of your expenses and you paid only an amount that remained include online one only of the amount you paid. If you received a reimbursement in 2023 for medical and dental expenses you paid in 2023 reduce your 2023 expenses by this amount. So you paid the amount they gave it back to you in the same year. Well clearly you didn't actually pay that amount you knew about it before filing the tax return which wouldn't happen until April 15 of 2024 or so. And therefore obviously you could account for that. However if you received a reimbursement in 2023 for prior year medical and dental expenses didn't don't reduce your 2023 expenses by this amount. However if you reduce the expenses in the earlier year and the deduction reduce your tax you must include the reimbursement income in schedule one. So this is where the funny possible problem could happen. You got a reimbursement in 2023 of the premiums that you paid in the prior year. Now if you paid the premiums in the prior year then you possibly could have got a deduction for them. You didn't get a deduction for them possibly because you weren't itemizing or because you didn't qualify for the medical expenses part of the itemizing. Then you don't have to include the reimbursement and income in the current year. But what if you did get a deduction for last year for these expenses and then you got a reimbursement. Do I have to go back and amend the prior year tax return to fix it because I actually got that reimbursed. If it was more difficult know the easier thing to do would be to fix it in the current year by including it in income. This is a similar situation as we saw with state taxes. You get a state tax refund. You deducted it last year possibly or if you deducted it on the schedule A and got a benefit from it you might have to include it in income in the current year. So you can see publication 502 for details on how to figure the amount to include cafeteria plans. You deduct amounts that have already been excluded from your income. So don't include on line one insurance premiums paid by an employer sponsored health insurance plan cafeteria plan unless the premiums are included in box one of your forms W2. So if someone is having their health insurance through their employer and it's being paid then was it already reduced from their income in line one. If it was then you can't also deduct it because that would be a double dipping situation. Also don't include any other medical and dental expenses paid by the plan unless the amount paid is included in box one of forms W2. Meaning it has to be something that was included basically in income and part of the plan in order for you to deduct it. If they already reduced your income then that would be that they already basically gave you the deduction by not reporting it in income rather than putting it in income and then taking the deduction which by the way is better if you can get that situation because it's likely that most people won't be able to deduct it as an itemized deduction on schedule A either because they're not itemizing because they don't have deductions over the standard deduction or because of that 7.5% the limitation that they have to clear the floor of the adjusted gross income.


So, can you please introduce yourself and the organisation you work for? Kia ora, my name is Tracey Portiki and I work for an organisation called Te Rau Ora and we're an indigenous Māori health and wellbeing organisation. Kia ora. I'm Ross Bell, I'm the Executive Director of the New Zealand Drug Foundation so we're sort of the country's leading drug policy organisation and I need to say that this is the first time that New Zealand... Tracey is on the Government delegation to the CND, it's the first time they've had an indigenous person on the delegation so it's her first time here as you know, and is also the first time New Zealand Government's had an indigenous person on the delegations, that's very cool. Congratulations. So, there are very exciting developments in terms of cannabis policy in New Zealand, can you explain us what is happening and everything about the referendum? One of the big questions for New Zealand is when you've seen some of the cannabis regulation that's happened in North America, will First Nations people and marginalised communities benefit from legalisation so I'll get Tracey to cover that off. But in terms of what's happening the Government has proposed a public referendum which is going to happen on 19 September this year and that referendum will ask the New Zealand public, do you support cannabis legalisation or not? And in terms of the detail of how that will work, the Government is drafting a bill, some of the details of that bill and the potential model of regulation will be as now public. For example, they're setting a purchase age of 20, they're not allowing advertising, there'll be tax and that tax money will be reinvested back into cannabis harm reduction. We don't yet know how the model will work in terms of is it going to be commercial or is it going to be more non-profit, or the vote happens, the public will get all of the details about what is being proposed and they get to choose should New Zealand legalise cannabis. At the moment we have no regulation and no regulation for Indigenous people in New Zealand means getting arrested and put into prisons where we are well overrepresented in all of those negative spaces. So 50% of the population who are currently incarcerated are Māori and we make up only 15% of the population. So we have some big issues and for us it's an opportunity for a change. And yes, we are concerned about the lack of communication and consultation with our communities about what the potential legislation might look like and how it will impact on us. So it's sort of, yeah, we need to change things and we want to have a say in what that change looks like. So we're calling on our Government to be a good treaty partner and we have a treaty with them and they have a constitutional obligation to have a discussion with us. How would ideal regulation look like? From a principle, you know, the values that the Government's approaching this at, I think gives us greater confidence that we're not going to end up with a super for-profit overly commercialised market. So the Government has said it wants to, just like Canada did, it wants to protect young people and it wants to move the organised crime away from the market. And some of the proposals that have already come out give us confidence that it can do that. I also believe that even if we did regulation badly it's better than what we've currently got. And so I think that there's enough out there for the public to be confident that the Government's moving down the right track, that they're not designing a bill that's going to be super commercial. But there are still questions about who's going to benefit economically from the market. And we don't know that yet. The details around the... So there will be a licensing scheme, you know, a licence to cultivate and a licence to sell and everything in between. But we don't know yet whether there will be a percentage of those licences given to Māori. We don't know whether there will be a cap on the number of licences a company can hold. So in terms of a timeline all of those details will probably come out in about April. The whole campaign, trying to convince the public to vote for this thing will run from about June and then the election itself is in September. In terms of how New Zealand has undertaken this, it's had three years to engage with the public. It hasn't done that that well. Everything is actually getting jammed into the final few months. The vote happens at the same time as we vote for what Government we want. And to complicate matters even further, there's a second referendum that voters will be asked to vote on, which was around euthanasia. So, complicated. Is there a strong opposition to the referendum? And if yes, where is it coming from? Yes, there's a strong organised opposition. And it's currently coming from socially conservative... There's a specific organisation that is a conservative Christian organisation who oppose everything, who are anti-marriage equality, who are currently right now fighting the Government around changes to our abortion law, that they are against the euthanasia referendum. So, they are actually quite a fringe group and they're very well connected. They're receiving finance from conservative groups in America. A lot of their messaging on cannabis is taken directly from anti-cannabis or anti-reform groups in America. So, they have quite a coordinated opposition. But the thing for me is that when you look at their messages and when you put their messages before reasonable people, they're not credible. It doesn't stack up. Most people know that prohibition isn't working and that we have to do something different. So, the kind of really moralistic arguments that they're using I don't think are going to work. In my country, we have an ethnic minority called Roma people and it's like 7% of the population and they are very much affected by the use of synthetic cannabinoids and synthetic cannabinoids use rampant and it has some devastating effects on these socially excluded, marginalised communities. Is there something similar going on in New Zealand with Maori people? Yes, definitely. So, our communities are more impacted in every area including poorer health comes, lower employment rates, poverty and so on. So, any movement away from... and really, we've operated in a system that's been very discriminatory. So, the hope with an opportunity to have a vote at the September referendum around cannabis is an opportunity to just slow things down, and just stop things just a little wee bit in our communities. So, it's important. I mean, because I saw the work that you had done on synthetic cannabinoid impacts in your country and it's identical. Two years ago, we were having people dying from the use of synthetic cannabinoids and the Government of the day was saying they shouldn't use these things but when you scratch the surface, the majority of people who were dying were Māori, homeless, unemployed. Poverty, homelessness, they are the drivers of this. The question whether legalising cannabis will mean that there's a safer alternative I think is a genuine issue for us. It could well be that providing people a safer drug-like cannabis will reduce the harm from these other ones. Ross, if there is one lesson we learnt from the Canadian example is that it's not so easy to beat the black market. I mean, it's still resistant. So, do you expect the same in New Zealand or can you make some precautions to avoid those mistakes which they made? Yes, it's good that someone like Canada has gone before us and we can learn from those mistakes. So, it depends on how it all works. It depends on if you are going to do the tax. Is it where do you set that tax? Is it going to be so high that people will stay on the black market? I just think the lesson from Canada is implementation was done badly. The biggest populated province, Ontario, did not have retail stores on day one. So, you're going to make mistakes. They've made some, you know, guaranteed that New Zealand will make some as well. But even if you look at what's happened in Canada just in the, you know, they've only had legalisation for just over a year, they are unpicking 50 or 60 years of prohibition. So, we can't expect, you know, that within the first two years you're going to eliminate the black market. We need to be realistic about, you know, what's going to happen.  Billions of dollars is now being, you know, spent on cannabis in the legal market so you're taking that money away from, you know, organised crime. So, yeah, but we can, hopefully, we won't make the same kind of mistakes that they did. I think I asked everything I wanted if you have anything, any other things to share. One question we are getting asked a lot is, are we going to win? You know, what are the polls showing? And at the moment, the race is tight. We're, you know, in partnership, we're running the yes campaign so we've chosen to put our effort into winning the referendum. Everything is tight. It's almost evenly split. There is a big group, probably about 20% of the public who haven't yet decided but who I think are persuadable. Once they get to learn more about what the Government has proposed, the focus groups that we've run, the research we've run, is once people have, once undecided voters get that information, they only move one way. They move towards yes. So it's close. I'm quietly confident.


What's up everybody, Jason here for jazzykatespricks.com. We just sold out 2023 Top Scrone Black Baseball, 12 box KSprick PYT number four guys. And thank you for the fill here guys. So yeah, you guys seen that? Look at that, here we go guys. So again, if you have a little character signed, means you wanted to throw a filler. And got it done here guys. Thank you guys, most likely what I'm gonna do is kinda do it like I have before is I'm just gonna stack up the hits, stack up the encase card, stack up the packs and then we'll go one by one with them after. Guys, we're almost done here. Our last one here folks. All right, here we go. Volby. Nice Joey Vodder to 150. And a Randy of Rosarania, 150. Shailene Lears. Robert, Louis Robert. A nice Oswald Parazzo to 50 for the yank, he's gonna mat, there you go. Adley Rutschman. Nice Manny Machado to 199. Padre's gonna Joshua. And nice, Harbin Carroll, there's the variation right there. Nice. That's going to Ryan in the Dominox. Great pack. Bogarts to 99. Valdes to 199 for Boston. Anakunia Jr., beautiful looking card there for the Braves. Went to mat. At a 199, Brian Rochille. Matt Mervis to 199. And a nice little Logan Webb to 99. And a little Lubaub to 75. Mookie to 75. How about a Mike Trout to 50? And a Peter Lanza, a nice one there. So Dodgers going to Ryan and then Angels. Went to mat. Beautiful colors there. Little Yelich to 99. There you go. Beautiful colors here guys. Was all the minipacks, there's a Kuni there. And we got that variation, Corbin Carroll. All right, let's go to the autographs, guys. Good luck. For the Phillies, Bailey Falter. Phillies, that's going to Richard. To Houston, Corley. Ryan. And it is Pablo López for the Minnesota Twins to 99. Minnesota Twins, that's going to Ryan. And Javier Asad for the Cubbies. Cubbies going to Ryan. And another one for Cleveland. Oscar Gonzalez to 150. Darden's going to Shane. All right, let's get a monster in here guys. Ooh, there we go, we got some gold. Kansas City Drew Waters gold to 50. Royals, Nestor. We got Zach Thompson for the Cardinals. Richard with that one. Never, Boston Fred Lynn to 50, or 25 I should say. There you go, Red Sox, that's Cup. That was the top team in the filler. Marco Pell for the Phillies. Luce for Richard. All right guys, a few more here. Jazz Chisholm to 150 for the Marlins. Jeremy Port. All right, we got two. Come on baby, give me something nice here. Kyle Stohr's a little teaser there for the Orioles, Ashams. All right, last one of your guys. Well, good luck. And it's Cody Clemens. If I had the encase could have been so much better. There you go guys. So there was a nice little Fred Lynn to 25. Drew Waters gold. Like I said, I feel like it could have been a little bit better. The numbered cards were so much better. That's the way it goes in time guys. Thank you. This was Pikachu number four guys. Jasper's casebreaks.com.


Live from Las Vegas, it's theCUBE. Covering Dell Technologies World 2018. Brought to you by Dell EMC and its ecosystem partners. Welcome to theCUBE. We are live on day two at Dell Technologies World. I'm Lisa Martin with my co-host. The one and only at Stu Miniman. We are here in Vegas with about 14,000 attendees. The biggest event ever. Not just 14,000 people here, but about 35,000 also engaging with the video experiences, live streaming and the on demand. Also going on here is a big event with partners. We're excited to welcome back to theCUBE Cheryl Cook, Senior Vice President of Global Channel Marketing from Dell EMC. Hi Cheryl. Hi, thanks for having me. Welcome back. Yeah. So 6,500 partners. Absolutely. Wow, that's up from last year. We have record attendance. We just are really, really excited about the engagement and how we're resonating with our partners. So we just had a fantastic kickoff to our Global Partner Summit yesterday. So some big news regarding the channel. One of the things I'd like to start with is the name of the event this year, the first time it's Dell Technologies World. Last year was Dell EMC World. Kind of indicative of the EMC Federation, companies being absorbed into Dell, companies with their own channel programs. Talk to us about what you announced regarding the Dell Technologies Advantage frameworks. What is the framework and how does it make it easier for channel partners to sell Dell products of? Well, thank you. You know, as you said, we've really elevated this event to the Dell Technologies World. And many of our partners today already participate in VMware's program or in Dell EMC's program. And really what we're doing with the advantage is we're taking a lot of the messaging, the story, a lot of the marketing collateral that we candidly educated our internal employees on so that we can best differentiate and articulate to our customers the value and the power of all these strategically aligned businesses. So for the partner community, we're bringing IT transformational campaigns to them. We're bringing a lot of the messaging and the story on how to enable and share with their team members and their customers. And we're also working on enablement and really driving more cross-functional, inclusive competencies and trainings to really enable them and their team members to be more effective. Yeah. Cheryl, maybe explain to us some of those, the training and the cross-compancies and things like that. You know, I'm sure there's people on the Dell channel side that need to be educated on other products and vice versa. And there's not new products all the time, new changing, you know, Jeff Clark walked through, you know, interesting things with like AI and IoT that are coming in the future. So bring us inside some of that. Yeah, absolutely. So we're very mindful of trying to develop either reference architectures or some of our curriculum around training that would include, you know, vSphere from VMware, for example, along with the Dell EMC infrastructure or even on our client initiatives, a Windows 10 refresh effort that includes AirWatch from VMware. So really looking at the outcome-based opportunity that we know we have to engage in those conversations with our customers so that we can stitch together the training and the availability. And we want to, on a future state, develop these trainings so our partners wouldn't have to take them multiple times. It would be credited and eligible in both VMware's program as well as Dell EMC's. So we're really striving to give commonality and be efficient with speed, time to market and really leveraging all the capabilities across the strategically aligned businesses. What about some of the feedback that you've gotten from, you know, legacy EMC partners, Dell partners in terms of how to make this complementary? Was that being that the partners are on the front lines talking with customers about all their transformation needs? How have the partners really helped to create this new framework? Well, you know, we're always listening and we host a number of advisory boards and we listen to our partners and we've heard very, very common. We love the product marketing but we want you to give us solution marketing. Can you help enable us in the outcome-based conversation and dialogue? One of the things we announced this week is an IT transformation marketing campaign which we're going to put in market with Dell EMC. It's available simultaneously for the partners that essentially really does map together all the technologies and componentry across the strategically aligned businesses to the business outcomes that they're talking to their customers about. We also launched an IoT competency for the first time this week which, again, is really driving at some of those emerging technologies you heard Jeff talk about, like AI and getting to machine learning and analytics to really help them engage and be more competent and effective in those technologies. Yeah, Cheryl, how's the channel doing?  I remember back when, you know, Converged Infrastructure first launched. It was like, oh, we need to create data center practices because they were server or storage people. When cloud rolled out, it was like, well, we're working with Microsoft. How do we figure this out? How is the channel transforming? How do they look at their business? How do they look at where they add value? Absolutely, and I'll tell you, Stu, I've been in this business a long time and I don't know a more exciting time when it's moving faster and that's also true in the partner ecosystem and the partner community. So we're still going to transact a lot of business the traditional way that we do now but increasingly I'm hearing from the partners they're looking at forming new alliances, they're looking at acquisitions, they're buying new skills and capabilities. We really want to help chart that map for them on kind of where the vision is heading and how we can help align with them. So if it's possible, we want to try and help align new alliances and introductions for them with other partners or as I said, continue to bring solutions, reference architectures to market that can help them enable around it. Can you tell us a little bit about what was announced regarding the Dell EMC Ready Stack for channel partners and reference architectures? So that's a great example of where we're going to always continue to work to bring engineered systems together like a VX rail or a VX block but the Dell EMC Ready Stack is really a certified and tested reference architecture for those partners in those instances when they want to go build it. So we'll tell them, here's all the bill of materials and all the capabilities. It'll be a completely inclusive Dell technology stack but it's a way to give them confidence, mitigate risk and they can build it and integrate it rather than buying a system that's been pre-engineered. Cheryl, how is the Dell Technologies world experience different for the channel partners? You know, one of the feedbacks I always get is it was like, oh, well, I mean, everybody from Dell's really busy and you know, there's certain things you can tell the customers but the channel people is like, well, tell us more about the future. Give us some of that NDA stuff. How do you manage that?  Well, you've certainly seen the scale of this event. So we call our global partner summit an event inside an event but we have everything from technical training where the partners are able to take their exams and certifications. We certainly have heroes exposition and heroes going for the pre-sales technical community and we also have an executive briefing center where we're hosting and right behind me we have our partner lounge. We're hosting over 800 one-on-one meetings in that partner lounge where the partners get to meet either with customers. They've certainly brought a lot of customers here. They get to meet with Dell EMC executives or the partner executives and it's really around collaborating, networking in many ways, it accelerates sales opportunities here. So it's a combination of technical training, networking executive meetings, obviously product launches and announcements that we're bringing to market, the opportunity to really cultivate and work globally in our global partner summit. So it's a pretty active week but we have everybody rather busy. Talk to us about some of the ways that you are incentivizing and rewarding partners for their loyalty. Yeah, well thanks for asking. One of the things we announced this week actually is a My Rewards program and think of this as a way to accelerate incentives to our partners, sales reps and their pre-sale SE community. So it's a platform that's going to allow them to redeem points so you earn these points, you can either get cash cards, gifts, trips and it really does go directly to their sales reps and their SEs. So we've launched a really comprehensive loyalty program around our storage offerings. This is an excellent sales tool that our partners can leverage with their customers but it comes with it, a host of incentives and rewards for competitive takeout and displacement, growth of new business and new logos. I mean our partner community in the last year brought 54,000 new customers to Dell EMC. Many of those, if they're targeting these competitive takeouts, they're eligible for those incentives and it's a win-win. Yeah, Sheryl, how's the competitive landscape out there? You know, it's always a balance between well, I want to incent you for loyalty but it's a diverse market and there's a partner you might grow with that might end up being more competitive somewhere down the road. How do you balance that? How do you work through some of those issues in the field? We're very focused on trying to earn their business and earn the opportunity in the marketplace. We're incredibly fortunate right now that we've been experiencing double-digit growth. Many of our partners would tell us that they're growing faster with us than others and to be completely honest, when you look at the categories we compete in, we enjoy market leadership positions, whether it's in our servers or in storage or all-flash or hyper-converged.  We're going to have to earn it every day. We recognize and know that they're business people and they work with other companies but we're just trying to make sure that we bring simple, predictable and profitable opportunities in both technology and platforms but also in our program and engagement. So the transformation theme has been really predominantly woven throughout yesterday and today as well, digital transformation, IT transformation, security and workforce transformation and in fact, Jeff talked about that during his keynote this morning. What are some of the expectations as the partners being on the front lines with customers and customers are now looking at leaders like Dell Technologies to say, how do we start utilizing emerging technologies? You mentioned IoT campaign. How are you, what are your expectations for the channel to be able to help customers build infrastructures that allow them to take advantage of artificial intelligence, machine learning, IoT to really be able to then transform their businesses to be competitive? You know, I am impressed every day when I meet with our partner community. In many ways they're leading the charge. So the natural engagement of some of these leading edge and emerging technologies, our partners are doing amazingly innovative work on embedding their intellectual property around these but for our part, what we want to do is certainly make sure that they're aware of use cases, here's business outcomes, many of which were kind of shown in the keynote in the big stage earlier this morning and we'll just drive competencies, we'll give them demo gear, we'll put them in labs in our executive briefing centers. We actively encourage our partners to take advantage of our solution centers and our executive briefing centers. It's a fantastic way for them to come into a sandbox and really immerse themselves in the technology and do proof of concepts with their customers. So we're going to continue to be focused on doing market research for them, much of the marketing material that we're bringing out in these transformational campaigns. The partners can benefit and leverage the research that we've done with companies like ESG and IDC and Forbes to really substantiate and build assessments and use cases for business outcomes with their customers. Cheryl, we've watched since the acquisition, Dell has been very focused on how do we merge these companies, how do we put this channel program together. Would you say are we at kind of a 1.5 version of that now? You know, when you would talk to the channel, how much more change should they expect kind of throughout the year? And you know, there's always feedback and learning, of course. Well, we're moving fast, but we're also genuinely committed to predictability and consistency with our partners. So one piece of pretty honest feedback we receive is don't change it all the time, right? Don't change it frequently. And we couldn't be more delighted with the success we've had in our inaugural year. I mean, when you just look at the fact that we unified and brought the program together, the success we're both enjoying, it's not completely broken. So we want to make sure that we can make refinements, we can adapt and be responsive to some of these new technologies and new transformations without really being disruptive and have wholesale change. So you'll see us really listen and continue to take feedback from our partners, but frankly, we feel like we're winning right now and we want to continue to just try and earn it and keep going fast. The word that comes to mind in summary is symbiosis. Yes, yes. Thank you, Cheryl, so much for coming by. Absolutely. Congratulations on growing the partner community this year and having over 800 meetings. Wow, I know. That's a lot. We're busy, thank you. You are busy, thanks so much. We want to thank you for watching theCUBE. We are live in Las Vegas, day two of Dell Technologies World. I'm Lisa Martin with Stu Miniman. We'll be right back after a short break.


The Tom O'Brien show is produced every business day. Tom takes your phone calls toll free at 1-877-927-6648 internationally at<PHONE_NUMBER>. Let's go to our man Alan Homo Sasa. What's going on brother? It's isn't it wonderful I went ahead and invested in your tiger dollars and I went ahead and got your gold report for a year and and also your morning your year call letter and stuff like that and I got over 50% return in one day not counting everything else but I just want to thank you. Tom's not perfect but he tells you how to put your stops in and keeps your losses small. You can take your small losses but then all of a sudden you'll be like Dave Root and you'll hit a home run. I mean a big home and put the money in your pocket. Okay brother you're awesome man thank you. Now Tom O'Brien. Welcome folks this is Tom O'Brien of TFNN. We have five days a week. We go seven hours a day. We go 24 hours a day on the internet at TFNN.com. Always remember folks whatever you think about you bring about whatever you focus on grows. Hope everybody's having a great day safe day. It's making a great night folks. This is a funny card. I'll read it and you can go from there. Be impeccable with your word. Become a white magician. But where do you hear this card? All the magic you possess is based on your word and you can cast spells all the time with your opinions. You can either put a spell on someone with your word or you can release someone from a spell. I don't quite get this one man. Mug it wise. Let's take a look at it out here. We have the Dow Industries down 18. NASDAQ off 115. S&P's down 14. Gold. Gold contract down a buck 80. Trading at $19.45. We have Silver down 47 cents. $22.97 an ounce. Lace we crewed up a buck 42. Trading out at $72.61 a barrel. Notes and bonds. To get the 10-year note flat 113.10. The 30-year up-for-ticks at $128.06 and King Dollar. King Dollar's down 468 ticks. Trading at $102.073. The Euro's at $109. The yen is at $141. The British pound is at $127.00 to one U.S. dollar. Our phone number's<PHONE_NUMBER>. Give us a call folks. I know it's going on in your world. In the world of the S&P's let's take a look at it. Well we're going to start with the E-mini because I'm going to show you with the E-mini here that the spreads now in summer trading and compared to what we've been used to folks the volatility has slowed down dramatically okay and you can see you know when I did the update there's no doubt we I got the bar that you know basically I was looking for because what's happening and we got an expansion of volume on this bar because if you're watching Tiger TV you're going to see we have a high volume low on the S&P that 4403 is a high volume low that's the first part second part when we got up into the 4438 bottom line is that that was coming against volume on the other side was at 30,000 I think we did 12 we did 27 against 30 so you know we'll see how this shakes out it just got inside the lower range because once you're back inside of let's see 4421 we're just here under 4421 our probability gets higher that yeah we're going to get down there right now it's teeter in there it got into the 4418 you know I suspect it's going to have to build a little bit cause here but you can see this expansion of volume just on this bar this bar it's okay so it just finished and had 27,000 contracts on the way down so and on the way up which was a little sound straight was still only 24,000 so that sets up that it doesn't want to get hit now that being said the MQ's don't have the same well here now let's do the spy so that's the daily okay intraday rather when we look at the daily this is you know there's not sellers out here man yesterday you know bottom lines that we came back we pulled back with 76 million shares you get 50 million today you know bottom line is that you're coming into 95 million so this is a basically a vanilla type of pullback after something that's been up that high you know we'll see where this thing wants to go but there's no sellers right now the NDX100 we take a look at the end cues so let's just go over to the cues first we take a look at the cues and we have with the cues same type of setup yesterday you came down with 49 million today you're at 42 that's coming in to 57 so we'll see how this shakes out now what does happen is this this is where this gets intriguing when you this is like an inverted like a hachew but it's inverted and what I have found with inverted hachews right is that it's going to be like tomorrow is going to be a well we'll find out what's going to be a big day but if if a market does want to go lower this is where it would basically have a much longer bar that when you when you look at the aspect of how these hachews work um right when you you know ready that we're right with the longer part of it comes out and if in fact there's going to be a sell-off that's where you'd get it so if we got the same type of trading as we get out here today that's just saying that guess what you got a slight pullback you're going to go to higher price we go to the gold contract gold contract right now has an abc structure down inside an abc structure down so your probability that you're going to get to lower price is pretty high we got down to 1929 today it did reject lower price at 1929 uh that being said it hasn't got above the b point again of the second abc down the second abc down the b point is 1949 this abc structure down here sets up an 1875 number and a lot of the swing low on this contract is 1846 so you'd still be coming into approximately so it's 1902 and 1875 so the live the live date here is march 10th if you're basically looking at your you know your stocks march 10th march 13th uh the days you're you're going to want to watch notes and bonds notes and bonds regardless of what the fed wants to do out here they continue to want higher price lower yield what we had out here today you rejected 112 27 you're at 113 09 bottom line we'll see how this shakes out we've been here for four or five days right now but my take is this thing's going to go right back top side and when you're taking a look at the 10 year the 10 year right now is yielding 3.7 and that brings us over to the dollar the dollar is really weak man you know that being said uh you can see here let me put this intraday because if if the s&p wants to go down and basically test that low um what we're gonna see yeah see there was there there was the can you imagine this look at this folks that the dollar hardly moved and the s&p moved uh let's see it moved i think it moved like eight points since i was it was down it was it was down or now it's only down 12 yeah it moved a good five points and the dollar only moved from 102 0 2 2 to 102 0 7 4 so it's been a one-way move all all the way down in the dollar today that is what relieved the market and the market goes up so the correlation is a very direct and tight correlation stay right there folks who come right back we have the dow the dow industry is down 13 as except 102 s&p off 11 will come right back currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe which is why it's a great time to try out teddy keg stats tiger forex report teddy keg stat breaks down the forex markets every monday using his 30 plus years of experience as a trading veteran of futures forex stocks and options teddy releases his weekly tiger forex report every monday morning with coverage of all the major currency pairs including the dollar index the euro dollar pound dollar dollar swiss dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30-year t-bonds as they both influence forex markets tremendously when you sign up for the tiger forex report you also gain instant access to teddy 60 minute webinar archive he just hosted forex strategies and fundamentals what is behind the tiger forex report for all the details and to start your 30-day tiger forex report subscription today visit the front page of tfnn.com tfnn educating investors are you looking for a way to consistently add winning trades to your portfolio tom obrien is here to help tom obrien has been successfully trading markets for over 30 years a frequent contributor to td ameritrade network and cnbc tom obrien founded tfnn over 20 years ago to help educate investors just like you tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio get tom obrien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at tfnn.com tfnn educating investors 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 for free at 1-877-927-6648 internationally at<PHONE_NUMBER> welcome back folks a doubt down this just down 21 nazis off 103 s and p's are off 12 if we go into the end the x first and take a look at the strength versus the weakness you have dollar trees up four and a half percent what is this one here oh costa interesting that's interesting that's all about real estate i'll pull that back up again that's up for 2.8 percent you have a baker hughes up by 2.8 percent and orally automotive is up 2.3 taking away from it intel's down four and a half percent crowd strikes down four and a half percent amd's down 4.4 percent and zoom is off 4.7 let's go a bit of costa for a second i gotta see this so costa folks is used for basically commercial real estate because all-time high what a trip man that i guess now that would make sense you know why that would make sense the lowest 55 the highs 88 the reason that would make sense is that that the amount of data that they actually have even that commercial real estate in many cities is in the dowel drums in a monster way but if you were going to go in and try to basically get some you know grave digging here uh that would you would want costa it's really expensive but you'd want that you'd want that information because what costa has which is really hard to get in the commercial market are rents rents and leases they don't have mall but they have a lot of them we go into the dowel industrials we take a look at the dowel industrials strength versus the weakness point wise inside the dowel we have united hell putting 48 positive points visa 12 honeywell 11 chevron 11 taking away from it sales force minus 38 goldman minus 25 microsoft minus 21 the silver let's go take a look at silver these silver gold platinum living on a one-way trip down there's no two ways about that and that's bottom line so okay so this continues lower today like this is going to be an abc down to what let me do the slv first because the slv will give me the volume right off the bat oh yeah so is an abc down to okay here we go so the slv that's 23 63 points which gets you 1950 was 1950 yeah so there's a gap down at silver to at 1911 that's where we're going there let me put this uh s s s i a let me put this back up so we take a look at this now give me the volume okay so 26 60 23 360 like it's a 21 bucks a low is 20 40 these bars the bar folks okay this is a just wrap your head around this man because what what does happen is this if you're in this market and you know you want to be in the gold or silver market it's always much better to get prepared prior to uh you know something like this because if you get ready for it see we had to sign a strength in in both all the medals on the 13th the 10th without the much they're all different this one's March 13th the gold is March 10th uh same bar though it was wide price spread accelerated volume and bottom line that's exactly where it looks like it's going to be going to and so it's always easier because what you're going to be looking for is that you're going to be looking for a contraction where you're looking first off what you like is is the volume blows out of the place which the volume has been blowing out and if the volume blows out before you get to those lower levels what ends up happening is that the sellers are gone then what you're looking for is you're looking for that test and that rejection if that's what you get you know the bottom line is it there's a huge consolidation there so it's always nice when you can get down as close to can the bottom if in fact you can catch that ride on the way up all right the right no way down we go up and take a look at the oil market out here oil today you know it's amazing the type of spreads that oil is creating these days you know it moves a buck and a half every day now you get 20, 242,000 contracts out here today let's see what we've been going into yeah so today's a big day you're going into 236 so that's not bad so it might make it up a little bit higher and if we go to the XLE we take a look at the XLE out here yeah XLE wants lower price so XLE gets up 99 cents right see the contraction of volume yesterday we came down with 21 million and going up at 13 today that's a flat out you know bottom line can't make it this these lows the bottom of the consolidation is game in the XLE so and then financials XLF we take a look at the XLF we had Paul out here speaking today he'll be going to be speaking tomorrow also we take a look at the XLF now the XL the XLF looks to me that it actually is going to get some juice in the way up you can see what happened now the XLF bottom line is that yeah you came down with volume yesterday you know you're up eight cents but you're really a sideways move that's what you kind of want to see you want to see sideways moves you know instead of basically trying to get the higher price with volume contracting that's that's when things get in trouble when you try to get the higher price and simultaneously you have the volume contracting some of the higher volume equities out here that we have today Tesla is going to be number one it's been a number one for quite a while that's down 11 and a half dollars you got Intel down to $1.70 we get Google's off 223 PayPal's off 42 cents Amazon Amazon's getting sued by the FTC because of the fact that you can join Amazon but you can't un-join it well you can but it's so hard to do it it's insane and it is not doing a thing to the equity out here today you know the bottom line is only down 63 cents it and it's not just Amazon you know I'm sure we've all experienced this man it blows my mind that doesn't blow my mind it gets me flipped out actually when you know you're trying to get out of the payment system meaning that you know you're paying every month and what I've found a few times and what I've done a few times I used to do this almost every couple years is that I would just call my credit card company and tell me give me a new one because sometimes I forget how many you know you put on the payment every single month and so I was like okay man just give me a new one we'll figure this out but the bottom line is that they have they they have they're onto the right deal there meaning that they made it so hard in an Amazon's case they called it the Iliad because it's so long and if you've ever seen that book folks okay it is that long there's no doubt about it. Dow, Dow Industries right now is off 41 you get the Nasdaq down 118 S&Ps are down 16 let's go take a look at that E-mini and see if we still got volume on the way down and I'll go over there we have a couple targets that want me to go over that again about that high volume it's it's it's cool about you know what we do at the volume in price is that you're just looking for high volume lows and high volume highs and you can see it's quite clear the highest volume that we have out here bottom is a high volume low that's and you and you don't it goes both ways stay right there come right back. The gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market the US futures market and the Shanghai gold exchange the gold report. Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, the dollar, bonds, the South African RAND as well as 25 different mining equities with specific buy sell recommendations the gold report new subscribers get a 30-day money back guarantee so you have nothing to risk subscribe to Tom O'Brien's gold report newsletter now at TFNN.com. 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swim banner on the front page of TFNN.com welcome back folks and down investors right now down 52 you get the NASDAQ off 118 S&Ps are off 16 and a half and it's getting close for this submarine down there at the looking at the Titanic folks okay sad but true you know the hearing noises okay underwater noises detected near the wreck of the Titanic can't be positively linked to the missing vessel with five people on board the US Coast Guard said adding that the search mission has expanded a Canadian plane with sonar capabilities looking for the Titan vessel picked up sounds early Wednesday and remote and remotely operated vehicles were moved to the area where the sounds originated you know the more you read about this thing it's it's pretty intense and I guess one of the you know reasons that it's an unregulated area is that because it's also an international water so bottom line is that you know when you read about the the controller they don't even have a GPS on the deal that that's it's kind of strange I think that blows my mind I can't quite understand that but anyway bottom line is that it's keep sending those prayers and send that white light because it's not over till it's over and I can't even comprehend being inside that I can't comprehend being inside a period that that's that's the bottom line particularly because that you know Tommy was talking about the risk reward of doing that period okay but the thing that's so crazy is that my understanding is that you know Jacob was telling me this just before he came downstairs is that what's happening is that you're only looking at the Titanic through a window in the bathroom but the window in the bathroom actually is is the camera that's outside so it's it's like you and I can basically sit here and basically looking at the same thing so it's like anyway and I get I get the deal that you know people want to say they've been there I get that you know but damn to lose your life over it is a whole different ball game that's for sure the dial that just so the dial industrials this is the dial has been moving around out here today man I mean that it's been moving pretty quick I mean look at this so so you have volatility in the dial the dial got a low out here today of 833 876 then it went to 34097 now does this pay this also well actually let me look at the diamonds and see if the diamonds have that high volume low also if we look at the diamonds yeah see they don't we had a high high volume low but that's right at the open and it did attest it right after it but no that's yeah that's still the highest volume the highest volume is still right after that that's on the diamonds that's 338 71 so it is there so let me just go over this high volume low or high again so as you watch and target tv and if you have the out of time in the trade just review those chapters because you know it's a great tool man so if you take a look at this right what you're going to see was the first time that we came down this morning that was at 10 o'clock you came down you had 49,000 contracts then you bounce the key is with time in the trade is that you are basically showing what happens when you're down versus what happens in Europe okay so we go down there with 49 49,000 we go up with 43 then this is the one we go down with 489 and then we go up was 20 we come back down but we don't test with 28 then we make a high with 27 and the first one right before I got on the air was the one that's saying okay man you know my take is when you're when you always have one bottom line it looks to me like that that is the most deviant thing the market could do and you know what the my saying is the market's job is taking the most amount of money away from the most amount of people in the least amount of time and it's the most efficient mechanism that I've seen in order to do that so you know on a continual basis you just try to basically be on the other side of that when we talk about that that's where you know if you went to Tim Ords workshop last week that's what you saw inside that workshop that workshop was phenomenal it was just an amazing workshop and those tools that you got basically people don't use them that that's that that's the bottom that's what's so cool about Ords in general but that's when that's how I that's I first picked up on them that I knew there was something that people don't use number one which is a huge plus and one of the reasons is that took so long to basically you know all the things that I don't care whether it's price and volume it's Fibonacci and all that they've been around it and you know and so people know them when you have something that has been worked on for so long as Tim has worked on it whole different ballgame man whole different ballgame<PHONE_NUMBER> so let's go take a look at the XAU and the HUI because those also they were breaking B points yesterday so let's see what kind of volume they had I suspect these I ABC structures down so let's see we need more than 21 million there yeah we get 25 million so XAUs and ABC down that's going to go right down to the bottom we're trading 119 we're talking well let me get the full full number here so one second put this up here okay so 143 they get 24 points yeah 104 and what's the bottom we're going well actually this is say we'll break the bottom so this is cool to know too saying the XAU is 104 and we're at 119 we go to the gold bugs index set this baby up okay so we needed more than 15 million and you got 17 okay so the ABC down 284 it's a big one 236 38 so it's 211 what's that low 210 the low is 210 so let's go into the lows man and that's what I mean about the aspect if you if you get if you set these up first you know and trust me I know it's it's wild you know writing the gold report and I'm saying the ABC well there the ABC downs man you know that's that's that's how it works you know you can't basically fight how these things want to trade what I love about it what I love about the gold and silver market period is this is the moves are very large you do have to get out when they finish ABC structures on the way up but they telegraph that the gold and silver market has a very great way of telegraphing on a continual basis kind of where it wants to go and you can check that with the aspect of the dollar and the aspect of bonds that's why I you know there when you have all three of them in harmony well then your probability gets much better that you're going to be right in the context of where it wants to go and when you get down to those levels just like can you imagine I mean if you're long you know we made money on the way up I sold on the way up we sold it kind of near the top here the bottom line is that we'll be buying hand over fist because the bottom line is that that's where it's at man Dow. Dow's down 88, Nasdaq's up 151, S&P's down 24, stay right there folks we'll come right back. If you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for rocket equities and options report today with a 30-day money-back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN.com. TFNN Educating Investors. You might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right? Like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman Wave the Chapman Wave up-down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by Basil Chapman and your inbox every day first time subscribers also get a 30-day money-back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up TFNN.com Educating Investors. and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at<PHONE_NUMBER> the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor foresight fund services LLC TFNN has launched the Tiger's Den hosted at Discord TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours the Tiger's Den available to all tigers and tigers for just one dollar for the year there's no catch or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of TFNN.com this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ welcome back folks to Dow investors down 72 the Nasdaq's up 145 s and p's are off 20 so let's just go look at that e-mini for a second because i want to bring something up here just because i know that we definitely have a lot of folks that are trading the one day options i think we do anyway i trade them every day so when you take a look at this folks okay what you want to understand also about that structure as you can see it was a monster downdraft that we just had okay you know we got down to 4407 just on that bar see the explosion of volume and it's 440370 that we're looking for now if you're trading those what you should always have is you should always have a close in meaning if you're i trade spreads that's what i do i don't go direct well i go directionally but go directionally and spreads okay so what happens is that if you get a ball like this you really luck out because the bottom line is that you have if you have the spreads in there if you have your cell in there right you're going to get popped because what ends up happening is that it moves so quick that the actual premium and the premium is on a lot right now but the premium will go up because it moves so fast so what you don't want to get in the middle of is having the positions on without always having a cell inside the positions that's now that's a technical way of trading that doesn't have to do it averages or anything like this okay but you want to understand how these platforms work and you know bottom line is that and then you know you can do that also now this is what's cool let's check this out the other side of that you can also do it on trying to get into positions that that's you know that's just as good that's just as good trying to get into positions versus you know the other side of it so where am i yeah is someone on the phone now okay one second i'm sorry i'll find this thing i got it we got art from archivia all right what's going on how you're doing tom i'm doing great man yourself i'm doing very well cool man cool so i have some weekly pressure put 721 40 put and you know they're moving more and more into the money all the time so i was kind pointing your view of it okay so let's take a look you got wheat and precious metal the lows 28 the highs 52 they're trading at 42 he has the the 40 puts and they the third week in july so these are the monthlies now it's gonna be good because they got an abc down man look at this okay cool you broke the b point yes they would volume so the a point let's get this exact fire because you got this trade on one second come on baby come on up okay so we got 52 58 52 58 is your a point your b point is 43 95 so the 863 a to b your c point is 4701 minus 4701 gets you 3841 okay cool so 3841 the low out there is 3839 okay and now let's look at this so so what did you pay for them i don't remember tom i really don't okay okay that's cool okay i just buy him and i watch him go down that's cool okay one second let me see this so okay so july one two three get four weeks that's pretty cool man yeah i mean you you get action here man that's the bottom line you know i mean it wants to go to 38 bucks what you want to understand is that the the i mean you trade these a lot right yes okay so you know how they move um when it goes to 40 you think i should take all my money that i put in it yeah i mean because you should have you're gonna have like a double or a triple or a five bagger i think because you bought them out of the money and most of the times you buy them out of the money like that you're gonna have a five or ten bagger i'm not sure you know that's why i asked you um because you don't get movement your deltas you know are basically really small until you get you know on the money and then something you want to be really careful of and this is what you want to be careful of is that once you get in the money you're gonna see that thing collapse you see what i'm saying like one second let me you have to you have the 40s right yeah i gotta do this on a different screen let me do this one second i can do this quick one second 40s oh okay july okay july 40s here we go okay so you're at 35 to 40 oh yeah the last okay so the last trade is 45 cents so what would happen is that the stocks at 42 now this stock gets the let's say 41 even 40 right that'll probably go that 40 will probably go to 90 cents okay now watch what happens but then you go to 40 right and let's say it's like two weeks then that that that 90 cents you know could actually get out of about 40 cents again that quick i'm aware of that yeah good okay so you know bottom line just make sure you take some money when you basically you know it sounds to me like you get a double or you know if you don't know what your bottom five i can't you know i mean i don't know what the the other side of it is but you get a good trade on man and it doesn't look to me that it's going to take that long to get to that price projection you know we're we're at a kind of a weird time right now because you can see the spreads are coming down in the main market the gold just keeps getting hit and it keeps giving everyone hope that it's going to go higher because just like today i mean you can see you know that it just rejected again you know the 1929 and it's like you know 16 dollars above 1929 and that's the exact same thing that it did you know four days ago and then all of a sudden blew apart again you know what i mean but the larger picture is that you know i think it wants that lower price so cooking brother nice trade have a great one man have a safe one yeah because yeah we do also have their folks you have the xa u as well as the hui on abc structures down um let's go take a look at uh a couple of the big dogs out here if we take a look at newmont i mean barrack first oh see oh this is going to be cool okay check this out folks okay this is this is a heads up once let me do this number man because this does happen on strong stocks 1816 1659 one second i gotta do this quick come on come on okay because i have a feeling that barracks gonna be one of the first ones off the bottom let's say 1816 1818 16 16 is 59 minus 1754 it's 1597 check this out man barrack just finished abc down to 1597 it's going to reject lower price it's going to have like a volume and it's the bar i've been talking about man check it out we'll come right back are you looking for a way to consistently add winning trades to your portfolio tom obrien is here to help tom obrien has been successfully trading markets for over 30 years a frequent contributor to td ameritrade network and cnbc tom obrien founded tfnn over 20 years ago to help educate investors just like you tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of tom's advanced technical analysis in our gear to deliver comprehensive strategies for a successful portfolio get tom obrien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at tfnn.com tfnn educating investors 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 basal 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 and stock prices get the opening call newsletter by basal chapman in 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 don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv welcome back folks so if we look at the barric here folks right this finish in abc down it's going to reject lower price today it's coming into 37 million only did 11 so this thing's setting up for buy now watch this same deal with an eco eagle so this is going to get cool man and this is what happens you know when you do big downdrafts the an eco eagle same setup meaning and with an eco eagle did an abc down is it is it's rejecting lower price today at 47 86 now look at this look at that see that bar that we were talking about that bar the bottom of that bar is 48 49 we went to 47 86 that volume there had 9.4 million we did 1.7 it rejected it and in both cases folks okay so this is a less than a time in the trade in both cases you got a rejection of lower price you're coming into strength and at the highs in both those cases an eco eagle 61 15 you have volume at the high and we go to barric it's the same thing so but this is going to be this is a great trading market that's the bottom line we take a look at the broad market out down here you get the dow down 87 nasdaq's off 159 s&p's off 23 now what that also says this is what's going to be cool here folks what that also says is that when I look at those two that's going to get intriguing because you know I'm saying that the dollar I mean that the goals in an abc structure down well that baby might get negated and if that's the case the dollar is going to go to hell on a handbag and you have two different things end up happening if the dollar is going to hell on a handbag because this was a deeper tracement on the dollar then you would have the broad market going forward as well as the gold market and we haven't had that do you know what I mean because the dollar you know today you know looks to me like I want to go to the bottom first but all those above are happening it's a beautiful thing always remember folks the bank and claw your heart out the bull can run you over and thank god there's always another trade health happens in prosperity have a great night folks have a safe night come visit Tommy tomorrow morning kicks us off 9 a.m great show folks