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Hope everyone's having a great day, safe day. It's a TGIF, folks. Let's make it a great one. You are what you believe you are. Humans are powerful magicians.  It's what you believe. It's a fact, man. It's a fact for me, anyway. Market-wise, let's take a look at it out here. We have the Dow Industrial's up 187, Nasdaq up 282, S&P's up 45. Gold. Gold contract up $11.70, trading at $19.96 an ounce. We have Silver up 6 cents, $24.43 an ounce, right sweet crew, up 27 cents, $80.36 a barrel, notes and bonds. The 10-year note, up 11 ticks, trading 1111, 11, 30 year of 12 ticks, at $124.08 an king dollar, king dollar, trading down 137 at 101.636, the euros at 110, the yen is at 141, the British pound is at 128 to one U.S. dollar. Our phone number is<PHONE_NUMBER>. Give us a call, folks. One note's going on in your world. In the world of the S&P's, let's take a look at them. Well, we're gonna get our heads wrapped right around the futures first. We just did that update and we're gonna go right to the same place and take a look at this thing. So what you have right now, you're up 45 points. And bottom line is that we'll see whether this thing wants to go down there, but you gotta keep in mind, once again, you got another high volume low that's laying here. So pay attention to that, even coming into the close today. And if you don't hit it today, guess what? Pay attention to it on Monday, because that baby's gonna get hit. Actually, oh, I see what this did. Oh, hold it. Interesting, I gotta pull this up. No, what is this? Was that? I see what we just did here. No, no, no, no, no, no, okay. Yeah, recalculate here. This is what's going on. This was coming into the opening bar and it had light of volume, 69,000 versus, I missed that one, versus 39. Yeah, now this doesn't have to come back. That's what's going on here. See this? That opening bar, that's what's going on. Even though it's a higher volume, that was coming into a much higher volume, it got below it, rejected it. Yeah, so that doesn't have to do it. And I suspect we're gonna be the same in the NQs. One second, let's take a look at this. I don't know how I missed that, but I did. That is not cool. Okay, let's take a look at the NQs. That would be, yeah, it's the same thing. NQs, where are we right there? Yep, that's what it did, unreal. Man, that's unusual. Bottom line, that bar, even the NQs, 15,000 was coming into that opening bar of 38, so this thing could stay at the highs. That's the bottom line. Go to the gold contract, we take a look at gold. What do you have with the gold contract out here? Gold came down hard yesterday and you had volume on the way down. And we didn't test it today, so that's still wide open for a test. Let me put the volume behind this. There we go. So you can see that expansion. We rolled contracts here, but you can see that was 190,000 contracts. No. Yeah, 190,000 contracts. We're going up 150 for we got 190. That wants to get tested again. Now, the dollar is gonna get really interesting here because what we have is that we came all the way up to ice and, you know, like literally. That being said, what we also had is that we had that wide-ranging bar yesterday.  So I suspect what we're gonna probably do is they're gonna probably go to the top of the range, not all the way up, but the top of that range would be 103,500. You know, it busts through ice because, you know, it's pushing in here today. And you do have a doji. So, you know, a doji is A and A, man, it can pull back, but I'm kind of going with the aspect that's kind of gonna blow it through it. And then what you would still have is that that would still be, yeah, look at that. It'd be a point, there would be a 7.6.4 retracement of the whole move. And that would be saying that the next time down, you wouldn't break out the lows. It's kind of how it's set up. Now what we are gonna have out here today is this. Now that's intraday, right? On the dailies, what you're gonna have is that, you know, the bottom line is that yesterday we had a high volume high, we gave it up on price. That wants to be tested. Yeah, I suspect what's gonna probably happen, we're gonna probably test it on light of volume. And if that's what we get, then it can fire away. You know, yesterday, we did 92 million shares yesterday. It took out the 65 million. You know, I can almost say this in a small ABC app. Yeah, really can. That's interesting. I've never thought about it that way. But that's what it has done. We'll see how this, that's interesting, man. Let me, let me, yeah, that's, yeah, so this is a heads up, man. You know, but today you can see what's happening. We're going up in 53 million. We'll probably test it Monday or Tuesday. We go into the QQQs. That's gonna be the same type of set up inside the QQQs. You know, we're already at the highs of the QQQs. Look at that. So yesterday, we went from a price point of that 384.71. It came down fast and furious, 65 million shares. Well, you're going, you have 384.01 right now. You went to 52. You're getting up there at 45 million versus 65 million. You know, the queues are the ones you really want to watch for basically some good signals, folks. Because the queues right now are weaker than the S&P. And the queues love to lead the market. The NDX100 leads the market up, leads the market down. It drags it all over the place. That's just how the queues and the NDX100 works. You know, yeah, it's not like each and every day, but it's pretty close. And then of course, put that together with the dollar. Dow, Dow investors right now, 194, you get the Nasdaq up 278, S&P's up 46 there right there. Folks, good job, man. Mr. Larry Pezzavento coming up. 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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. All now toll free at 1-877-927-6648 internationally at<PHONE_NUMBER>. Welcome back folks to Dow. Dow investors right now trading up 190, we get the Nasdaq up 278, SAPs are up 46 and we're gonna come over to our man, Mr. Larry Pezzavento and Larry folks has got a great treat for you coming this Wednesday, okay? August 2nd, from nine to two, it's gonna be Larry Pezzavento live trading webinar. He does these a few times a year folks, okay? They're amazing live trading webinars. So Larry is a patent recognition expert and the bottom line is he's gonna be out there showing you the different patents and trading simultaneously. Now what you get here is you're gonna get not only a great education, but you also get Larry's newsletter, Fibonacci 24-7 and you get that for a full month and that is a value in itself of $97. The full workshop is 295 and that includes the 97 for the webinar and I mean for the newsletter. Now on top of that, happy birthday to you, happy birthday to you, happy birthday dear Larry, happy birthday to you. Thank you, Thomas. I've had 83 of those songs sung to me over the years. I love it, I love it. Yeah, I can't hardly, Tom I've been doing this for 60 years. Can you believe that? I started in 1959. How cool is that? Yeah, I know and I love it just as much as the day I started. In fact, what I do on August the 2nd is my way of playing in the World Series because I get to demonstrate live what I do and we've made money luckily in these other four, but don't always, but we teach a lot while we're there but these markets are so perfectly volatile that I just can't wait to do it because we're seeing swings. It's kind of nice that the volatility is picking up again. Oh my God, it's in spades. I mean, today I was watching crude oil it moved $4,000 up and down, 80 to 79, 79 to 80, 80 to 79 and 79 to 80. $4,000 it did that. Yeah, amazing. Yeah, it's a pretty good thing. And you know what's so cool, Larry? And you know, so in the context folks, depending on how long you've been doing this, the difference is that, you know, years ago you had to make up commissions. We don't even have to make up commissions anymore. Oh, I know. And the spreads are tight. So it's a whole different ball game, folks, okay? You just got to basically, you know, that the probability game is there without a huge amount of fees, which is unbelievable, man. I mean, it really is. We used to pay $60 round turn on a gold trade, remember? Oh yeah. It was ridiculous. Now it's $4 round turn. Right, and the spreads could be quarter half and a quarter half means folks, you know, bottom line is that, you know, you're talking about in an equity, okay? Talking about up to $1.25, no, not a dollar, $1.25. It's a 250 or 1,000 shares, and you know, you don't have to buy 1,000. Do you remember the guy Harvey Howe from the United? Harvey Howe, did I know? Yeah, the Osos bandits. Yep. Yeah, they just wanted to change it all. They went to the NASDAQ and said, hey, we're not going to do this anymore. You got to get down to decimals. Yeah, well, that's what put the big fraud guy made off. That's what put him out of business. That was the essence of putting him out of business. That's how that worked, which is pretty amazing. That's when he really stopped going south because the spreads got broken, you know, so it's pretty wild. And then at that point, that's, yeah, so there's a whole story behind that, Larry, that's pretty awesome. That's what it's saying. Oh yeah, you knew those people, so I just heard about them because I wasn't in the... So talk to us about what you're going to be trading and what you're going to be teaching out here. You know, you get your flash cards. The main thing, the basis of everything I do is ABCD. I mean, that's the structure of everything, but people don't look at it the same way. And I'm going to have to pick out seven or eight different trading vehicles. I'm going to find the ones that are the easiest. And I'm going to try to do one stock, but I'll do a foreign currency. I'll do gold, crude oil, the E-mini, S&P, the Dow Jones, not the Dow Jones, maybe the Dow Jones, and then also Treasury bonds and soybeans or wheat or corn. One of those, of those eight, we're going to have two or three really nice trades. Usually we do four trades a day and in between the time that I'm trading, I'm going over the different trades. And the good part of it, Tommy, is there's so many guys that have taken this class so many times that they chip in and say, hey, look at this one. And it really gives you a really warm feeling. They're seeing the same thing. And many times we just take those trades because they set up so perfectly. So we got a lot of materials. Let's talk about your news a little bit too, because they get a full month of your newsletter. And when we're talking Fibonacci 24-7 folks, we are talking 24-7, which is really cool. I make videos usually two or three a day, one before the market, one right after the market, sometimes right in the middle of the day, when it shows you what we're looking for, why, how to put the trade on, where to put the stop. And we've done very well with those over the past five or six years. And it's been a lot of fun. But it's easy for me to do it now because everything's set up automatically. All I gotta do is record it, send it out. And it's very helpful because it teaches as it goes. When you see it over and over again, you finally get to drift again. This stuff's not that hard. Well, when you send them out also, this is not calculus. Yeah, when you send them out also, which is so cool folks. So picture, when you're dealing with patents, and everything is triangles folks. Everything is triangles in life, folks, by the way. It sure is. And so when you see it, when Larry's doing these videos, it's so cool because it's not like, it's a black and white deal, man. That's the real bottom line, okay? Hits this number, great, you're gonna buy it or sell it. Hits this number, you're gonna buy it or sell it. And that makes things a lot easier, man. I mean, that's the bottom line, do you know what I mean? And we're not saying we have a crystal ball because that's not the name of the game. But patent recognition is a big deal. And if you're a believer in triangles and math, it makes it a lot easier. You know what I was watching last night, Larry? I was watching the second Hubble telescope that went up. Oh man, it's on Netflix folks, it's amazing. It's just like. No idea what that universe is like. Oh my God, it's so beautiful, it's unbelievable. It's unbelievable. We have an astronomy lab here on Mount Hopkins. It's part of the astronauts that train here at University of Arizona. They've got a big observatory there and on nights during that time when there's a new moon with no moon, no full moon, they have a, you can go there and set and for a seven or eight bucks, you have to go up to the top of the mountain on a bus but you get to sit there for two hours and stare at the universe. And you're almost like you're in it.  Well, you know what's so cool?  Yeah, pretty much, yeah, she did. So you got to see the universe really well because you know. Yeah, we didn't have lights. Right, no, which is so cool though. Because they had this woman, that was an astrophysicist there and they asked her, you know, how'd you get involved in this? She says, well, they showed her growing up in this farm. She says, listen, we live in the middle of nowhere in Arkansas, right? But yet her education was phenomenal because she could see the universe like every night like in an extraordinary way, you know? So. Oh, it's just incredible. In fact, down in the desert here, you know, we have areas where it's very dark. Yes. And oh my gosh, it's just incredible there. It's just, Tom, it's really funny that when Sarah and I first got married, we moved here. We stayed at one of the cabins down at there where my buddy's ranch and there's no electricity. We have little propane lamps, you know? Okay. And it was very dark and he had a skylight. She, oh my God, she said, what's that? And she's, the sky was so bright with stars in Hong Kong because it's, you know, smoggy and stuff. And there's so many skyscrapers, you never got to see it. She had never seen an open sky with millions of miles of, you know, the universe. And she just never forgot that. So beautiful. This is the first time I've ever seen the sky. How cool is that? Yeah, it was. Well, listen, man, happy birthday. You have a great weekend, safe weekend. And folks, it's very easy to get this webinar. Come over to our website. You're gonna see it right under featured content. You're gonna have a blast. You're gonna make money. And the bottom line, you're gonna get a great newsletter. Larry, have a great one and a safe one.  Thank you. Till the end when I said hello. See you later, buddy. Absolutely. Stay right there, folks, to come right back. Attention traders. Larry Pesevento, the renowned trading mastermind, is holding an exclusive live trading event on Wednesday, August 2nd. From 9 a.m. to 2 p.m. Eastern time, transform your trading skills with the real-time wisdom of a Wall Street veteran. Just $295 gets you a front-row seat to this power-packed session, plus a month free of Larry's sought-after newsletter, Fibonacci 24-7, a $97 value. Elevate your strategies, decode the markets, and achieve your financial goals. Remember, this event will be archived for all attendees, and Larry only does a few of these a year. Don't miss this opportunity. Sign up today at TFNN.com. Secure your future and start trading smarter. TFNN, educating investors. Old report, as a precious metal gold is still king, it continues to hold the most effective safe haven in 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. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority in technical market analysis, and it's not just dry, tedious text either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN. Educating investors. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit watch Tiger TV. Welcome back folks to Dow. Dow Industries right now, 167 in Aztecs, up 253 S&P's are up 40. Let's go inside the NDX 100 and take a look at what's moving this market today. So you got Lucent as up 7.7, the car making, or check this out, this is really wild man. There was an article yesterday on Bloomberg folks, right? So I haven't seen one of these cars, but I guess I could just jump on the web and take a look at it. But let's take a look here, okay, for a second. So here's what the story is, right? Each car that they are selling, they are losing $253,000 per car. Yeah, you heard that right, $253,000 per car. And I guess that's why I can see that right now this quarter they plan on taking 185 million and losing 34 cents a share and share price, they got, oh my God, yeah, they got 2.2 billion shares up there, right? Yeah. But that's quite a number, right? So I think it's like amazing actually. I was really start thinking about it, it says, well, you know, maybe it's a decent car, who knows, but you know, anyway, serious satellite, that's up 6.5%, Intel's up 6, taking away from it, you got Walgreens is down 2.8%, Cisco's up 1.6, Chattano Communications is up 1.5. Inside the Dow industrials, the strength versus the weakness inside the Dow industrials, you have the Microsoft is putting 52 positive points, Boeing 29, Procter & Gamble 28, taking away from it, you got United Health minus 13 is highly nothing. Big Mac minus 10, Goldman minus nine. Let's go to MCD and see this Big Mac deal.  And in Florida, what happens is that, you know, this is the home of Chick-fil-A, okay? And if you've never been to a Chick-fil-A, what happens is that, first off that they're closed on Sundays and per store, they take in a lot more than the McDonald's and the lines are so big that they have traffic jams all the time. Well, as I'm coming to work this morning, I'm going by a McDonald's and it's the first time I ever seen the line literally out on the street, meaning and blocking traffic like a Chick-fil-A. It was like, whoa, man, I don't know if they got a new specialist going on or what. Now, that being said, take a look at this shot because this is the type of shot that wants to break out. See the volume characteristic here today? You've gone sideways for about 13 weeks. This is heavy volume going up. You get volume of 15 of 13 million. Last time you were up here was nine. Time before that was 10. 13 is a big number. Now let me put this on the monthly. Monthly is kind of just steady, but bottom line, that looks to me like you're going higher. And they just did, let's see, and you got to remember something that, they're also a real estate company. 6.5 billion, 297 to the bottom line. Now their growth is not big. 2% in the US per year, two and a half internationally, that's about it. But bottom line is that they're making money hand over fist. And then, of course, you heard Tommy talking about Chipotle this morning. The amazing part is that they owned 90% of Chipotle. And imagine if they ever owned both of them. There was a conflict because Chipotle, of course, is that they push the aspect of fresh food. And so I think that's what ended up I'm not sure what happened, but I can picture that. You get the fresh food on one side, you get McDonald's on the other side, it's okay, what do we do? But bottom line is that you can see, they basically are pushing out food, man. The GDX, let's see where we're going to go with the gold contract here, the gold market here. So the GDX, yeah, this wants to get tested again. See, now we filled the gap. That being said, well, let's see. We filled the gap with what? 28, now 38 million shares versus 44, close call, man. Because of the gold contract, my take is that we're gonna come down there one more time. That's what it looks like to me. You can see you're up today in 13 million. Yeah, one of our tigers is saying that his grandson manages a Chick-fil-A. Check this out, 11 million per year they take in. That's just one store in six days a week. And if you ever go to one, now I actually don't eat meat anymore at all.  They, it's like eating crack, folks. I don't know what crack is, but you know what I'm saying? You can't eat one.  They're insane. They're like, you just can't eat one and people go out of their mind on them. And I can see why, anyway. So, let's go next to, let's go to Valley, because this is gonna get interesting here. So, you hear about the Saudis going everywhere, right? Well, they're doing a deal now. It's gonna get interesting nuggets. Thank you, thank you. Sounds a lot better. Yeah, exactly. So, we take a look at this. Let's see what this has to say. So, Canada vowed to curb foreign investment in critical minerals. SACDA will face first major test of Saudi Arabia deal to buy it to some of the country's largest nickel mines. Trudeau introduced new rules in October. They added a layer of regulatory scrutiny and to invest this from foreign entities. And I guess this Valley announced Thursday that Saudi Arabia Public Investment Fund and Saudi Arabia Mining Company agreed to buy a joint 10% stake in the Brazilian Mining Company base metals unit. Valley operates Canada's largest nickel mine in Labrador and operations in Sudbury, Ontario. Yeah, well, Canada's approval process, we could involve national security review that can take 200 days or more and then we require a sign off from the Canada. Lawmakers, they're kind of everywhere these days. That's what that's kind of getting into. Let's see, BTH, BTH, what do we have here? Okay, how did it light? No, BTC, thank you, BTC. Nope, oh, Bitcoin, Bitcoin, oh. So, if we take a look at Bitcoin, they trade in 29,000. Put this on, oh. Well, this has a little more to go to ICE. ICE is laying out at 33,000. There's ICE right there. That's kind of ICE. Stay right there folks, come right back. 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Welcome back folks to Dow. Dow investors right now, 169 and Aziz up 257. S&Ps are up 40 and they're gonna go back to Bitcoin just for a second because the Tiger wants to know if it doesn't hold here, where it would go. So let's take a look here. Well, we don't have volume on these things but this would be just like an equity. See these big bars here? In fact, I should ask Larry about those big bars on the dollar. When you see big bars like this is that just a normal retracement brings you down back to the bottom of the bar. And that's 28,169, here at 29,295. And let me see something. BTN, no, is it GBTC? One second. Yeah, this is gonna get interesting. Now let's look at this, okay? So right now folks, let's see what this, I'm going to the grayscale trust. So the grayscale trust, this is a Bitcoin trust. It's still trading at a minus 28% premium. But that specifically means now, so now this trust, okay, just to get things straight here, the only thing they invest in is 100% of Bitcoin. Now watch, if I put the holdings up, you're gonna see it. You know, it's 100%, period. That's what they hold, they hold Bitcoin. But yet they trade at a 28% discount still. Now there's a court case that's going on and there's gonna be a lot more court cases against the SEC because once the can of worms is kind of opened, the SEC has lost a couple of big cases. And we'll see where this maybe shakes out, but the closer that this gets, we'll see whether they win. Now the probabilities are at this point that they still won't. But if they do, you are gonna see that close immediately, that 28% negative premium. Because of the fact, then there'll be a pure ETF under a different security law. The thing that's so intriguing about these ETFs versus, this is a trust, that's the difference. See where it says grant a trust incorporated in Delaware? Well the grant a trust is under a different rule than the ETFs. And that's why you can see that the ETFs themselves and even Bitcoin can trade in the futures. That there's different rules and regulations. The bottom line, we'll see where it shakes out. What is gonna happen though? Well what's happening right now is this. Because of digital assets, the SEC and Gary Gensler and this is the way that any good either corporation or someone going against the corporation is kind of set up. And what it is is this. Is that if you take a shot, meaning that what the SEC has done is so the beef on the folks that have, whether it's the tokens, other bitcoins, other stable coins is that the SEC won't give them enough guidance, okay? The SEC is basically saying, no, we have all that, okay? Without basically saying, okay, show me where inside the regulations that you basically can regulate us. Well, when you're always, if you're gonna get in a brawl, the easiest way to do that, meaning a legal brawl, is that you have these things that you don't want to basically get a ruling on. Because once you get a ruling on it, then you either win or lose. So most of the time what ends up happening is that in the SEC's case, everywhere else will back down. Now what has happened in the last two or three years is that big companies, big hedge funds are not backing down anymore. And what does happen is the SEC, if the SEC is coming after them, they'll come after them for years. But what has happened is that all of these large funds have got a lot bigger also, and they're saying, you know what? We're gonna go after them. We're gonna say that, no, you don't have the authority in order to basically regulate it because you're trying to regulate something that inside the regulation is not there. So we're gonna get a lot of different cases and we'll find out what is gonna be regulated and what is not gonna be regulated. And what I still can't figure out is this whole thing about stablecoins, of how a stablecoin can actually pay any type of interest at all because it's like, what does it do? Where is it making the money to pay interest? That's what it seems to always come down to. We'll find out how this whole thing goes, but you can expect court cases for years, folks. I mean years, yeah. And what's gonna be intriguing now, the court case is different. The ones I'm talking about is as to what these are, totally different than Bankroom Freed. Bankroom Freed is just a ripoff. He should be in jail for fricking ever and he's going to jail. They're gonna get him in a monster way and he's going, that case is going up in October. That's a whole different ball game.  That's a whole different ball game, but we'll see what a jewelry does with that. Let's go to the note and bond market. Because note and bond market, yesterday we took down, we came down hard to note and bond market yesterday. So if we go to the 10 year first, okay, so you're at the bottom of the range. Yeah, I'll see, this is good though. Notes and bonds, they're one higher price, man. Yesterday would happen as this. Yesterday we came down with 2.2 million contracts in the 10, but guess what? This is how we, you know, we actually, we were going into, hey, let me do this. Because we were also going to the lows that had 2.2, so we did 2.2 and then what ended up happening today is today you go lower. You rejected lower price at 110.25 and now you're at 111.12. You know, if you're looking for, you know, how do you reject lower price, have lighter volume, that's it right there. And you're still inside the range. Look at this, it went right to the bottom of the range though. Look at this. Almost to the tick. And to the tick, I'm talking about four months ago, three months ago, you know. And so if we do the 30, you wanna say, see what this looks like. 30 did the same thing. Today you get 395,000 contracts. You got to a lower low, you rejected lower price. That was coming into 385. You did 476 yesterday. You get under today with 359, you rejected lower price. They're both going higher, you know. So the Fed could do whatever, well, we'll find out how this goes, but that, you know, the Fed were at five to five and a half percent. The market and notes and bonds still wanna go to higher price, lower yield.  Stay right there folks, come right back. Are you ready to take your trading to the next level? Introducing Tom O'Brien's award winning newsletter, Market Insights, your key to successful active trading. Tom O'Brien, renowned for his expertise in the financial markets, has designed Market Insights to be your daily guide to profitable trades. Tom publishes his daily Market Insights newsletter every market day before the market open, along with updates when warranted. 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When you subscribe, you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First time subscribers also get a 30 day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. tfnn.com, educating investors. 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. Welcome back folks to DOW. DOW is up 194, NASA is up 269, SAP is up 45. So old republic, ORI. Now take a look at this, yeah, this is a breakout. Put this on even a 10-year monthly and you're gonna see it's a, this is an insurance company folks, okay? It's an ABC app. Bottom line is taking it out, taking it out with volume. You get, it's about a 6.8 to be off of the low, which would be about 30, it's going after 30 bucks. That's how it looks to me right now. Let's see if there's another high up there for long. No, yeah, there's no another high. They're in the insurance business, but yeah, that's real. That's, has the price, has the volume, has all the above. So if we take a look at how we're gonna finish out here, what you're gonna have is this. You said you came down with heavy volume yesterday.  So bottom line, you know, the spy right now, the highest today was that 459. You're right next to it. We're at 456 right now inside the cues. Now the cues never made the high. So it's gonna be really cool watching the, watching the cues, because the cues are weaker than the spy right now. So the cues, they might have already did it. Let me see this. That's 71, three. No, we went. Okay. So today went to 384.52. 384.71 was the high of yesterday. The actual high is 387.98. And the cues actually have more volume than the spy. Yeah, that more volume, meaning that it's dramatically not that different. Meaning, yeah, we did 65 million yesterday, doing 51 today. That's not bad. The high out there is 54. We're probably gonna hit it. So you can expect the test of those highs. That's the bottom line. So you get the test with light of volume. You know how you get volume and price. If you really make it, I'll break it. That's how these things shake out, man. That's how it just, how it goes. No two ways about that. Where? Whoa. One second. I'll just do it. There we go. I always remember folks, the bank and Claudia hideout, the bull couldn't run you over, and thank God, there's always another trade. Health happens in prosperity. Have a great weekend, folks. Have a safe weekend. Come back and visit Tommy Monday morning. Don't forget about Larry's workshop. It's gonna be a great workshop coming up this Wednesday. Check it out in the front page of TFNN. Have a great weekend, folks. And a safe weekend. Reeeeh! Look at him, folks.


I came over here to visit the grass, diesel's favorite place, I like this one, I like that one, that one's mine, that one's mine, I like this one too, oh boy diesel, oh that was a great night and the best part of it tonight is I got four videos uploaded, oh remember the YouTube Apocalypse a couple days ago, no one could upload, it's funny, the Knife Knulls called it YouTube Apocalypse 2014, the hashtag, it was terrible, nobody could upload, oh what I finally got myself all caught up and now we're going home getting ready for a vi-logger fare, look at this grass diesel, this grass is tall, grass is taller than me man, I don't want to go in there, I got flip flops man, I'm not that adventurous, I mean also it's in there, whoa isn't this just beautiful, isn't it, we're at the pilot, pilot travel centers in, oh where are we, Sioux City, Iowa so we're right at the border of South Dakota, so in like 10 minutes of driving we'll be in South Dakota and man it's been just two days in a row of just absolute perfect weather, you know what, actually it's been a really good summer, if you come to think of it, this summer has been awesome, at least for me, you know how bad winter was for me, you know like those snowstorms kept following me around everywhere, I was beginning to think Mother Nature just hated me, no I was just Mother Nature's evil winter sister, she doesn't like me, but Mother Nature herself actually likes me, she has a little thing for me, she likes to send me nice weather, hey diesel, maybe it's just you, that's probably just diesel, she just likes diesel, hey guys let's get ourselves ready and let's get on the road here, fix my hair, I just want to share something with you guys, one of my pet peeves, I know I share a lot of my pet peeves with you guys, see where the parking line ends here and this guy parked nicely, pretty much in his spot, this is me here, lots of room back here, don't do that, that's really annoying, see how far over the line he is, it really makes that space smaller, I'm not complaining right now because it's during the day it doesn't really matter but I'm talking about when you park for the night, you guys got to try to leave space for people to park behind you too, don't be a parking spot hog, take two, frustrates me at the end of my day, all this weather is just great though, here we are, here we are diesel, oh man you ready to go on the truck lane, go on the truck lane, come on get in there man, good boy, yeah so my point of that last clip was at the end of your day, just take the time to walk to the back of your trailer after you pull the brakes and you're ready to go to sleep before you settle in or anything, as soon as you park, go walk to the back of your trailer, just make sure that you're in your spot and you're not hanging over into the spot behind you, it's a really nice courtesy to do for drivers who come in late at night and who are very tired and who just need to park their truck because they legally can't drive any further and it's really frustrating for them when they can't find a parking spot because a couple of people have taken up two because they're hanging into the one behind them, right? That's what happened to me yesterday, that's why I was a little further away from the line, a guy was hanging over the back and there was three spots here that we couldn't park in because people were taking up two but just a reminder, just go and make sure you're just taking up one spot called South Sioux City, right? We're still in Iowa, we're gonna cross it to South Dakota right away, what smells so good? Oh that's me, put it on cologne today, just for you guys. Do I 29 North? Absolutely man, yeah I'd love to. I 29 North takes me home, we're 881 kilometers from home, that's about nine hours of solid driving and there isn't much stops because it's just a beeline straight north of here, like this road we're getting on here, I 29 literally takes us right into Winnipeg, there was a hitchhiker sitting there, hey somebody told me they didn't legal the hitchhike in the States, you see it all the time in Canada, hitchhikers everywhere, I don't know if it's legal to hitchhike on the interstate, this particular A-2 fast down the hill, you just set the cruise and give it. I'm having a good day, I'm having a really good day, we're almost home, we're in Grand Forks, North Dakota, Diesel's just doing his weasel business out here in the long grass, his favorite place, enjoy it while you can man, winter's coming, I don't talk like that man, I know, I don't know what he's sniffing around, he's going back and forth, I guess the tank's empty already, I guess we can go back to the truck, oh so I just got to stop and Pemba to North Dakota, he had to pick up a parcel from my dad, a couple parcels actually, he orders a motorcycle helmet for his motorbike and he has them at a parcel service in the States, it's cheaper to send them to a parcel service and then we pick it up on the way home, it's cheaper to do that than send it over the border into Canada, right, so people make their whole business around just being a parcel service, didn't like his trailer anymore so he decided to detach from it and then take up a second spot with his bobtail, okay so taking up one spot wasn't enough, he'd rather take up two spots, I understand, sometimes one spots is not enough, sometimes you just need to take up two, going back to the topic from this morning, make sure you're only taking up one spot, oh well, alright bud, you ready to go or what, it's been a good long drive, we are in Pemba North Dakota, can you see the little water tower there, Pembina, Pembina, we got to go inside and get dad's parcel that he ordered his helmets, he can ride a motorbike, Manitoba has a motorcycle helmet, let's go get him his helmets, he got one for him and one for my mom, isn't that cute, they're gonna ride on the motorcycle together, just like they're dating again, I think I got everything I need, nice little old town, the trucks are allowed to park there, interesting, the corner parcel pickup, I guess they put them both in one box, it's nice and you don't have to pay for one box, it's five dollars for a box right, five bucks to pick this up, how am I gonna open the door holding the camera, didn't think this one through did we, trucker, didn't think this through very well did we, oh no, oh here diesel, hold that, oh boy it's a very big box man, what you got there, is that for me, no diesel that's for, I guess that would be grandma and grandpa to you, yeah it's a very big box, I'm very interested in this thing, hold on to what's inside, is it full of treats, not really, I really want to open it, but it's not mine and we shouldn't open what isn't ours right, we will hand deliver it to mother tomorrow, dad is on his way to British Columbia right now I think and then he's headed over back across in New Jersey or North Carolina, something like that so he asked me to pick this up why not, bike helmet so him and mom can go riding like they used to, next stop Canada, Canada, process of moving everything from there into there, it's one of the last times I've actually got to do this, hey diesel how you doing, pretty soon we'll be able to take this whole truck right to my house, to our house man, isn't that gonna be great, no more of this, loading from here into here and stuff, not that I'm complaining it's not the hardest thing in the world to do but in wintertime it really sucks, you gotta take this food along, this food is gonna be for you at your pet resort while I'm at slaughter fair, he's gonna love this resort man, it's the nicest one in Manitoba, alright guys but what is home really, this technically isn't home anymore, two weeks and I'm moving and we're home, anybody miss me, she never answers, I know this video is coming up after the fact but I hope you guys kept up to date with my tweets because I'm gonna be all over Twitter and Facebook while I'm there, so hope you guys kept up with all of that and if you did make it out I really hope you got to come and say hi to me because I'd love to say hi to you if you're there, I'm just super excited about it guys, unlike all of this, really not excited to move but I am at the same time, I'm excited to have all of this stuff in my new house, I got my internet service provider coming to hook up internet, the day after I move in, so we're set, I just won't have a cell signal for my cell phones there for the first little while because I got to set up the tower on top of my house, my dad's gonna help me with that, I think he has a tower, we just got to set it up and put the cables, it's we got to measure out the cables and do it just right, it takes a little bit of mathematics, I don't know what I'm doing here, why am I saluting? Mathematics! Dad's gonna help me put that booster up on my house then I'll have cell service in my house and on my yard but for now I'm just happy that we're gonna have internet installed right a ways and I'll have a landline phone so it'll be good, I'll just forward my calls from my cell phone to my landline it'll be good, okay guys I will talk to you tomorrow and there I go saluting again, I'm saluting too much that means it's time to go to bed alright guys we'll see you tomorrow 4 a.m. central time don't forget to go down below to the description box there's a bunch of links there you should check out even if you've been watching my videos for a while I've also added links right at the top of the box there to videos past videos of mine from like yesterday a week ago a month ago and a whole year ago you can find out what I've been up to how I've changed and how me and diesel have grown see you tomorrow


with a set of points, x, f of x, such that x is an L, then s satisfies the epsilon-ryphomeric condition. And I would never fully trust my epsilons. Maybe it's 2 epsilon. I feel like it's epsilon, but whenever I say anything, I'm an analyst, and you might multiply it by 2 to be correct. In this case, by the way, so what we're looking at is some graphical thing. Here's our s. In this case, what is the mapping from s to a ball of radius 1 and rk? The easiest way to take it, I mean, this is not how it works for the general case, which is why it becomes more challenging, but you can just do the projection map, right? You have a mapping from s to lk. This is a graph, so there's a one-to-one correspondence between points here and points up here. Project them down, and you can use this condition to see that actually is going to be a by-lipchitz map, much less by-holder map. So it's a clean example to get your head around. No, no. So in fact, this is a good question. So the example I'm going to provide in just a second, so let me answer this in two steps. So even providing, so it's sharp in the sense that it's not by-lipchitz, it's just by-holder, right? So in some sense, to that degree, you have a certain sharpness, but not the other direction. So constructing maps that are kind of by-holder euclidean space, but not by-lipchitz is actually pretty tricky. The next example is what's going to do it and kind of show the sharpness of the Reifenberg. But by no means the worst by-holder map can get. So what can happen here in practice is that we have to think stochastically for a second. So if you have kind of like the Wiener measure on path space, then what happens is a generic curve in that is going to be holder-continuous for c alpha. Alpha is less than a half. But it's image will be two-dimensional, right? It'll be a lot worse than what's about to happen here and there will be no Reifenberg associated to that.  It is really the point, right? Even if we were to loosen up on exactly what we asked for. So you can have holder maps that are much worse than Reifenberg guys. Reifenberg guys are much better behaved than a generic sort of holder map.  Oh, I was gonna do an example, okay. Okay, so here's our interesting example. In fact, what I'm gonna say is if you're new to all this, the most important thing you wanna do, probably I would say for the next two days even, is understand this example, right? It's gone through in detail in the notes because basically everything we're gonna end up wanting to know about the Reifenberg theorem is in it, right? It's even gonna tell us how to prove it in the end. It's gonna give us all the right intuition for what's happening. It's also gonna tell us why these mappings are bi-holder and not by-lipschitz. So example, so-called snowflake. Okay, so let's start with sort of an iterative construction.  Let's take two, I mean everything's gonna be an R2 here, right? So it's gonna be a one-dimensional example in R2. So let me take two points in R2 and call them A and B. Let's consider the segment in between them and let's let little LA be by definition. This thing is the segment between A and B, okay?  Roughly speaking, our example will be Epsilon Reifenberg, but I think it's probably gonna be like 20 Epsilon Reifenberg or some nonsense. And so what I wanna do is perturb this now from a single segment to two piecewise, linear segment, so with two pieces. So I'm gonna come out here, come down here, and I'm gonna call this point here C. The C here is gonna be, so the length of, let me do a bigger picture. I think there's too many people in the back that's not gonna work. We can designate a whole blackboard for a triangle, why not? Okay, so I'm gonna take my, because I'm gonna start writing some stuff that's somewhat precise, so I wanna be careful. Okay, so what I'm gonna do is make an isosceles triangle here, right? We're with two pieces. The length of this side here is gonna be Epsilon times the length of this side here, right? So I'm just moving out by length Epsilon. That corner point I'm gonna be by definition, I'm gonna call C. And what I'm gonna say is I'm gonna say L Epsilon AB is by definition going to be the union of AC and CB here, right? So this guy here is this guy here, right? So, do it's piecewise linear. And now we're gonna build our example. I'm gonna do in the following.  I'm gonna let A not one be the point two zero. I'm making these indices match with what's written on the notes just so it all kinda matches up somewhat, right? So this is the line in our end. I'm gonna call this line segment tier S naught, right? So our original guy is just gonna be a straight line from minus two to two, nothing complicated. And now inductively, what I wanna say is the following. If Si is equal to the union of, it's gonna be a piecewise linear curve by definition. So some Li to, how do I write this? It's probably better. That's I, J, I, J plus one. So if I have some piecewise linear curve, then my next step of my iteration is just gonna be, I'm gonna epsilon it like up here, which means I'm gonna epsilon all these out. Unions of L, A, J, I, A, J plus one, epsilon, which by definition will just be the union of a whole bunch of other line segments, right? So this is I plus one, J to I plus one, J plus one, right? So let's draw the picture of the first couple, because this is one of these things that's much clearer in pictures than it is when you write the definition. So here's my S one, my S two is gonna be S two. S two, and I'm gonna keep doing this, right? I'm just iteratively, right? So I'm gonna do it forever. And we're simply gonna ask, what do we know about this example, right? A priori, nothing, right? Maybe we just knew nothing about this and it's a total complete mess and it's a waste of time, but let's study what we can about it. So let's make some observations about this guy and this guy, which probably would have been more fitting here, but oh well. So what can we say? So what's the Hausdorff distance? If I have a segment, AB, right? So this is just from the line from A to B. And if I wanna know how far away is the line, is the piece, is the double line, L epsilon from this guy, well, one can get this pretty easy, right? It's the distance from this guy to this guy. It's a nice easy thing to check, right? It is just the length of this. That's as far away as you get, right? So the Hausdorff distance between these two guys is precisely epsilon times the length of the original segment. On the other hand, what's another piece of information we might wanna know? What is the length of this segment? So the length of this segment is, so the square of the length in fact is a little bit easier because what can we do? We can do a nice little triangle inequality, right? So that squared is this squared plus this squared. That squared is this squared plus this squared. Sum the silly things up and what do you have? You have that the length squared, anyway, let's just call it the length, is the square root of one plus epsilon squared times LAB. So for the sake of today's lecture, fine, but I'm gonna observe something mainly so when I observe it again in two lectures down the road, it'll be clear. There's a neat little thing going on here where somehow the Hausdorff distance is basically like epsilon times the length, right? But how much does the volume go up? It's basically like one plus epsilon squared, right? I mean that this has a Taylor series out, right? So the length goes up by epsilon squared whereas the distance just goes up by epsilon. This means nothing for us in this example, right? But I want to observe it so that when I've observed the third time and use it, it makes sense. So what can we do with this? Well, once we have these two pieces of information, it's easy enough to figure out how the lengths of these guys change and how the lengths of these guys change and so forth and so on. So let's write all this down. So if I want to know what the length of Si is, well this is equal to, so S0 is four, right? It's from here to here. And each time, the length of each segment gets multiplied by this and I'm just summing the silly things up. So the length of this is getting multiplied by one plus epsilon squared each time as well, right? So what I actually have here is that the length is just one plus epsilon squared to the I over two. Zero, zero, good, excellent. So our length is like this. And on the other hand, and here's sort of the interesting point, what is the Hausdorff distance between Si and Sj? Well, if we think about this for a second, right? So to get from Si to Sj, right? Let's just think about going from S1 to S2 for a second. So to go from S1 to S2, I don't really care what's happened up to the construction of S1. It is what it is. Now, now to get to S2, I now do the usual procedure, where I'm gonna out myself twice, so that the Hausdorff distance between S1 and S2 is exactly gonna be epsilon times the length of Si, sorry, epsilon times the length of one of these intervals. Right, so this is gonna be, let's go into the sum. Oh, I probably should have mentioned this before, but neat point, which we won't really use for anything. You can get around it pretty easy, but it's nice to know. This Hausdorff distance, actually, for compact subsets, actually gives a complete metric space, interesting enough. In particular, it satisfies a triangle inequality, so I call it a distance function. Call it an exercise, it's like four lines, but it's neat. Right, so if I wanna compare the distance between these two guys, I'm just gonna sum up the distances from Sk to Sk plus one. What is the distance from Sk to Sk plus one? All I'm doing is I'm doing this isoscelate triangle construction one time, right? So this is gonna be equal, this is from i to j. The sum of i to j of epsilon times the length of Li. So let's say, boo, I should have written that. So Si is piecewise linear curves, right? All these piecewise linear guys have the same length by construction, right? They never change, the length of any one of them is where I'm gonna designate Si, Li, and Li, you just do the exact same game here, right? The original thing is four, and every time you go through it, what you do is you half it, and then multiply it by the square root of one plus epsilon squared, right? So Li is actually the square root of one plus epsilon squared over two to the i, right? Because the total length of this gets multiplied by one plus epsilon squared, but then I have the number of intervals I have. So that's the length of this. That's the length of this. And that means we have, this is less than or equal to four epsilon times the sum of one plus epsilon squared over two. This is the most technical part of this, probably lecture series, k i to j. And it's just a triangle inequality, sorry, it's just a geometric series. So that means that the power of distance between Si and Sj is less than or equal to what? So that's equal to, say, eight times epsilon times what this is at i, right? Because each time it basically has by some geometric series. So the square root of one is epsilon squared over two to the i. This is super small, right? I mean, two is much, much bigger than one plus epsilon squared of epsilon small, right? And I'm actually gonna define this to be eight epsilon times two to the minus alpha i, right? So two to the minus alpha is by definition this quantity, just so I can write it nice and cleanly. If I lost you in that, the key point is it's summable and it's small, right? So what's happening? It's a geometric series. This thing is a Cauchy sequence, right? So in other words, we expect this to limit to something. So we've got all this craziness going on. It's getting crazier and crazier and crazier. But one actually expects a limit if the distance between i and j is actually gonna decay polynomially like this or decay at all, really. And although one could actually directly just prove it, let me just point out the fact that since the Hausdorff distance is Cauchy, this does actually imply there's a limit because it's a complete space. One can prove it not too long, but why, I mean, it's not helpful right now. So this implies that si actually Hausdorff converges to some s sitting inside r2. And this is gonna be our example in the end, right?  So let me actually draw that with less wiggles. Well, less height for the wiggles. Okay, and now what's the key observation? I'm not gonna prove it for you because we don't have time. But it's in the notes and besides think intuitively is better anyway. I mean, you can read the notes through the details, but get the intuition is more important right now. I mean, so what I've done here and what that's saying over here, right, is my original as zero is precisely some line or interval, right? And when I've kept making these changes, not only did the first change not move far from it, but the sums of all the changes didn't move far from it, right? So my end s, whatever it is, it's within say a two epsilon neighborhood or something. I'm gonna compute it out precisely. Maybe it's eight, I don't remember, but it's pretty close to my original segment s naught. Maybe it's four epsilon, I'm gonna say, why not? So in other words, at least on the ball of radius one, we see that this s, whatever it is, is very close to a line, an affine plane, right? In fact, if you just keep repeating the constructions down here and ask the same questions, it's the same deal, right? Because if I looked here instead on this ball, this is an actually an affine line again and the sums of all the changes past this point is small relative to this, which means again, no matter what s did right here, it's gonna be close to that affine line, right?  So this implies very sketchily that s is, and I'm just gonna say four, but it might be eight, I don't know. So this is our Reifenberg. Okay, so first observations about this set. Why is this a non-trivial example? So let's see that with nothing else at the very least, it's showing the Reifenberg theorem is sharp and that you can't be by Lipschitz, right? That by-hole there's the best that you have hope for anyway, even if we don't know that's true at this point. And that's easy to compute, right? Because we come over here, we look at the volume of si and what is it? It's one plus epsilon squared to the i. It's going to infinity, right? I mean, if this thing were by Lipschitz to, to, to an interval, it would have finite volume, right? So we see immediately that whatever this thing is, it cannot possibly be by Lipschitz to Euclidean space. Neither can these, right? So by-holders the most we can hope for. And now the question really is, do we even expect by-holder? And what's nice about this example is two things. We can build the by-holder maps completely explicitly. So I'm going to say this in two ways. So we can at least see by-holder is true for this. So question, what about by-holder map? So it's not by Lipschitz, what about by-holder? So for that, what we need, right? Is a mapping fee from, and let me say minus two to two, why not, into S, which is supposed to be a by-holder map, right? And now in practice, right? So I want to discuss basically two ways of building this. One way because it's the easiest way to see it, and this is clear, this is in your notes. I'm actually both ways you're in your notes, but the second one I typed up this morning so it's not completely thorough. So one way we can do this is the following. Well, we have no idea how to build this map whatsoever, right? I mean it's a lost cause. But what we can try to do is build some phi i's from minus two into two into S i. Now, why is this reasonable? Because in some sense, there is actually only one reasonable map into this. I mean, this is piecewise linear. This is an interval. The only reasonable thing to do here is to try to make sure it has constant speed as it goes around it, right? That's basically it. So this has finite length even if it's huge, right? It's just a piecewise linear thing. So one can choose phi i by definition to be parametrized by arc length and that's it, right? So it's the unique parametrized arc length map. So if one heads this way, I'm gonna stop with this in, oh, I have five minutes. But am I 50 minutes or an hour? Okay. Good, I have five minutes. I guess I can see it enthusiastically instead. So the observation you wanna make here is the following. I'll just tell you what it is and you can look in the notes. Note the following. Every one of these maps, every one of them, maps minus two to this point and two to this point. Now, every one of these maps except phi zero maps zero to this point because note this point never moves again in this construction. Every one of these maps except the first two maps minus one to this point and one to this point, right? So we don't know that there's any reasonable sense in which these converge, but we're at least seeing right away if they're stabilizing in a reasonable sense. And if you try to actually compute out what all means with exactly those computations over there, you get precisely bi-holder with exactly that alpha. It's basically that computation rewritten in a new way. So one explicitly can write this map this way to see bi-holder and see it all. It's a very nice thing to get your hands on. However, that being said, that's not how I want to do this in two minutes. Actually, do I have two minutes? I want you a little slow, I think. Not good. Okay, one minute, never mind. So instead, let me make the following observations then. So there's another way this has done your notes and I would suggest you read that too because this is a little bit more connected right from here. Probably I'll start next time with this because you should see this. So this example, it's neat but it's not just neat. If you're an expert, this is essentially told you everything you need to know to prove Reifenberg because what's happened here is that the actual proof of Reifenberg for a completely general S is basically reverse engineering this example, right? You're gonna say that for a general S, the fact that it is a Reifenberg set is gonna mean we can build SI just like these guys and we can build mappings FI just like those guys and we can estimate them just the way we're doing here so that we can get limits and show the bi-holder, right? So this is basically just, you know, it's a baby version of what the Reifenberg theorem proof looks like, it's actually extremely accurate. And maybe at the beginning of next time we'll say a little bit more about that. Thanks.