 The following is a presentation of TFNN. Trade what you see with Larry Pezzavento, toll-free at 1-877-927-6648 or internationally at 727-445-1044. Now, Larry Pezzavento. All right. Looking good, Billy Ray. Feeling good, Lewis. We're going to take a look at the German DAX this morning. As you can see, we are completing a small ABCD pattern. Well, it's not too small. It took quite a while to complete, but it's certainly a perfect one. If we take a look at the FTSE, the UK market, you'll notice that it's also making one and it's right down near the 78% level. What does that mean? We're going to rally or not? We don't know, or whether these will rally or not, because no one knows, but the pattern is completing. Whether it'll mean anything or not remains to be seen. Folks, one of the first things I do is my routine in the morning. I get up and I do a little five-minute meditation. And basically, I got this from my good friend, Mark Douglas. And basically, my meditation goes, you know, it's a relaxation, basically, and to try to do the right thing in correct areas if I'm supposed to. But the focus of it is to realize that I don't know what's going to happen next. One of my biggest problems as a trader is I have an opinion and I do, you know, pretty extensive technical analysis, and I think I'm right. Sometimes I am, sometimes I'm not, but I have to focus on the times when I'm wrong. You know, that's like, you know, Paul Tudor Jones and Roy Longstreet and Jesse Livermore all said the same thing, you know, take care of your losses and the profits will take care of themselves. And that's really what that meditation is for, is to accept the loss, move on, and just forget it. You know, I use vodka, Jose. No, I don't do any. Well, I do have, I do drink tequila when I have a margarita, but I don't drink any hard liquor at all. Have a glass of wine every couple of days, but I don't really drink very much at all. But anyway, let's move on to a couple of other things. We've looked at the DAX, but the other part of the thing that I do in the morning when I get up, the first thing I do is I look at Bloomberg. And this morning, they had David Rubenstein, I think is his name, Rosenberg from, from Canada. He's with Gulfton Chef and he's a, he was very famous in 2006. He was calling for the top. Well, it didn't call until, didn't come in 2007. So he took about one year of heat before he was right. And of course he was right. It was the, you know, the housing bubble thing. And he talked about the fact that the Bernanke was, you know, calling about, you know, three more years of good real estate market. And it was topping right at that time. But the important thing is whenever they do Bloomberg, they always have a positive and a negative. Well, the young lady that was on the other side of this coin was, I swear to God, she's about the same age as my borough who's 13, but she looked very, very young. And she made a very elaborate case on the fundamentals of negative interest rates and all of that stuff. And the first thing that came to my mind is my friend, Art Cashion, who I was fortunate enough to meet 47 years ago when I was at Drexel. His, one of his mentor was Bob Schiffer, who was a very good friend of mine. He was a New York Stock Exchange member. And I used to go back and go on the floor when you used to be able to do that and go into the members lounge and have lunch and stuff. But Bob was a dear friend and he helped mentor Art Cashion. And one of Art's favorite quotes is, don't trust anybody that is not old enough to shave. And he said, that includes boys and girls. But anyway, this girl, I swear to God, she couldn't be more than 14 years old. She was probably 30, but to me, she looked about 14. And she was saying how important negative interest rates were and that really was a good thing. Well, it certainly hasn't been that way in history. And I tell you, if you stopped someone on the street and said, give me $10,000, I'm only going to charge you $500 to hold that money for you. Do you think that, do you think that that's going to be a good deal? No, no, come on folks, that doesn't make any sense at all. All right, let's take a quick look at a couple of things. I've had a few questions I wanted to bring to your attention. The two of the markets that we're watching really closely here is the E-mini S&P. I'd like to show you yesterday what we did is we did make a really nice three drive to a bottom over the past five days. You know, we've come off 100 handles from the top, exactly. Now last night you'll notice that we went up to the 382 retracement at that 2893 and then we backed off to the 78% level this morning at 2872. And then we had a little type of a news or whatever. Oh, I know what it was. It was the Chinese guy is coming to make a deal. If you can believe that, I still have two shares of the Brooklyn Bridge available for you. You'll notice the resistance up there on the S&P would come in right around that 2910 level. That's the 61% retracement of the high. We made on the fifth and it's also the 50% retracement of the high that we made back on May the 1st. Now, whether that's going to happen or not, I don't know. But let's pay attention to it because we're getting news items now. The market runs really, really quickly. So unless you think you know exactly what you're doing, you flat better protect yourself because no one else is going to do it for you boys and girls. That's the main thing that you want to be talking about. Some of the things they're chatting about here and the tiger, the news today is about medication and drinking and stuff like that. And folks, when I was on the floor of the Merc, you know, back in the 828384 and you would not believe the number of floor traders there that had little flasks with them that would go into the lounge and take a nibble of their flasks. They have a little bourbon or whatever it was, but they also, I'm sure they shook some drugs. I never saw any of that, but I certainly saw the fact that they were certainly drinking while they were trading, which is an absolute disaster for thinking and trying to make money, but that was not my point. The fact is that some people do it. You shouldn't, but that's up to you. I want to get off my soapbox now. All right, I had a question here about Lyft. Lyft, we've been keeping a sort of a small eye on this thing over a period of time because we wanted to see what's happening. I just wanted to remember this stock came out at 72, I believe. No, wow, let's try it again, Larry. It started at 90 back in April. We broke down and then in early April, we had a four-day rally. That rally was $10. That left an ABCD do around $54 a share. And you'll notice the rally we had yesterday in Lyft was a 382 rally of that high. It was also $9 from the 26th of April to the 7th of May. So that completed that. That ABCD will take you down to this level of a 52 to 48, somewhere in that ballpark. My guess is we're going to come in right at around 51. And that's where I think we're going to see a bottom. Whether it'll have anything to do with what's going on with Uber or not, I don't know. I'm just looking at the charts. I have not traded this. I just look at it from a historical standpoint to see the fact that there's so much volume in there that these numbers are going to work more than they fail. So that's one of the key things that you want to be looking at. So let's just watch that. We learned something from it, and that's the main thing that we want to keep in mind. By the way, that pattern that we were looking at in the DACs, in the S&P, that was an ABCD, and that was one of the first major ABCD patterns that we've had on the downside since our bottom on December the 26th. If we take a look at the NASDAQ, we got the first break already, shut the front door and raise the rent. Hold on, let's get this NASDAQ up here. We'll start to discuss it. You see the NASDAQ, what's interesting here. Let's get right back to the commercial and we'll be right back with some more information at the break, 877-927-6648. The TAS Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. 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Details on the Tiger's Den are on the front page of tfnn.com. Tfnn has launched our brand-new website. You can still visit us at the same tfnn.com URL, but when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high definition, or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new tfnn.com now and experience all the upgrades. tfnn.com Educating investors. Call now. Toll free at 1-877-927-6648. Internationally at 727-873-7618. Okay, we're back, folks, and one of the things that we do want to bring to your attention again is this chart here on the goal because we're coming into some really strong resistance this morning. That comes in at that 1293 level. So far, we've been at the 1292.50. We didn't quite take that out yet, but it's certainly looking like it's going to run into some very stiff resistance. We've already broken $5 from that level, so whether that's going to mean much or not, I'm not sure. If we look at... Hold on one second here. I wanted to get this silver to show you it also because it's another one that looks really interesting. And I know it's real interesting because I just did it. Here we are. I think this is it. Nope, that's the gold again. Now, where are you, silver? Wow, I tell you, I don't understand why these guys sneak up on me like this, but I have these things all ready to go and then when I pull them up, they hide from me. I don't know if it's just old age or not. Let's just put the silver up so you'll be able... Now, that's not it. Boy, this is troubling to me, folks, because I really wanted to show you the silver because it's lagging the gold market so badly, and as is the platinum. And for some reason, and I don't know what that reason is, I just can't find the doggone chart. I'll have to redo it at the break, which I will do because it is certainly... I'm going to do it right now because this is our show and we could do it the way we like. So, give me one second and I'll post this silver chart one more time so that we can see it because it's showing you that there is a whole lot of resistance up here at that $15.01, and that's what we're really watching here. So, just give me one second and I'll have this up there, and that's the one second. Now it should be in the file. Now the $64 question is, can I find it? And the answer is... Here we go. This will be able to discuss it without any trouble at all. Here is the... Uh-oh, shut the front door and raise the rent. I lost the contact to a TFNN, it looks like. I've lost the tiger, Dan, folks, so I guess I can't post it until I get back onto HotCom so I don't know what happened there is these computers and this is what drives me absolutely bonkers. Just give me a second. I'm sure that you can hear me but I can't hear you and I have to wait until I get logged on to the program for HotCom and it takes a little bit longer these days because of the hacking that goes on. Just remember, folks, we're a really active market so you've got to use a stop. Even if you use a desktop, God for heaven's sakes, be safe because you saw what happened Sunday night when the market dropped 50 handles in the S&P. You don't have any control over that if you're long but it's not a very good feeling and with these tweets that come out from whoever or whatever that makes it a little bit more difficult. I'll be here in the Tiger Den. Right now, I'm coming back right on. I hope, have you folks been able to hear me if I've been talking because I'm going to post this chart for the silver now. You'll notice that we can't make a new high here and we went up and touched that high in the gold so this is not good action in the gold market, folks, to get up there. This could change in a few minutes and we might be moving so that's what in platinum is even looking worse. I mean, platinum, which is the one we've been following, thinking that it had some possibility of being some really pretty bullish and it's not doing that. I mean, it's just not going up and that's not a good sign. That's pretty much what you're looking at. Maria, you're right about the tweets and the Chinese. You've got to remember, folks, that Chinese are very good traders. I used to watch them how they operated in the soybean markets, you know, back in the 70s and they didn't get involved in gold and silver from my perspective when I was at Drexel those six years because I didn't have anything to do with that particular thing even though I went to Hong Kong a couple times for gold seminars. I didn't see much of an interest coming from China and later it certainly did. But remember that gold topped in January the 20th of 1980 and was in a 22-year bear market. It didn't bottom until 2002 and that's when our good friend and leader, Tom O'Brien, said it was going to bottom and by golly, the man who said King Dollar was right about the gold too. So, yes, they do. They don't do the same. I don't think they use Twitter, but they've got something like that. They've got Alibaba, which is like Amazon and then they've got some other things. They've got Googles over there working with them and stuff, but I'm sure they have a Twitter. Every, if you've ever seen anything in the, ever watched anything in Chinese television, everybody is carrying one cell phone. I mean, they have cell phones. Well, they only pay like $8 a month, you know, for their fees because the same thing in Thailand and India and all the other places. The fees are so cheap so they can have the people out there using the phones. But, oh, well, don't get me started on this stuff. Anyway, you know, folks, I've been doing this for a really long time and what I see happening in the world now is really troublesome. I remember when I was a little shaver going to St. Benedict's Catholic School there and tarot Indiana and the thing that I was most scared about when I was a little guy about fourth and fifth grade is we used to hide under the desks. These little wooden desks, Sister Mary Perpetual and Sister Clotile, they would keep us under the desk getting ready for the nuclear holocaust coming from Russia and Khrushchev. But, you know, I mean, those were very scary times. But remember, folks, fear is false. Evidence appearing real. None of our fears, 99% of them, you know, don't come to fruition. So let's remember that. Very, very important. If you want to call in today, Al's telling me the lines are all filled up right now, but later on they might be open 877-927-6648 if you have any question and we'll be able to try to answer them. We'll try to answer those if we can for sure. The next one that I wanted to mention here is about the Japanese yen. I wanted to get this up here and show you we've been talking about this last week and again this week. If you'll notice that double 78% level that we had last week and the week early in March telling you that it was extremely strong resistance and those of you that ever read Jesse Livermore's book Reminisances of a Stock Operator or Richard Wycoff's The Wycoff Method, you know, tape reading would have been very helpful there because we made a high or high in April by March by five pips in one of the largest foreign exchange currencies cross rates in the world. It's number three. Well, no, it is number two. US dollar and then Japanese yen. It's number two. Then it goes straight down. Basically, that tells you that's 78% level, but now, boys and girls, we are hovering near the 38% level. Kind of pay attention to that. It's going to be interesting. Now, what we've done now is we've taken out the March lows. So that is the same thing that we did on the downside that we did on the upside. Now, whether that means anything or not, I don't know. But the two things that you should take away here is the importance of those resistance points and then take a little trip down memory lane and go over to February, March of last year and look at the three drives to a bottom pattern forming in the Japanese yen at 104 and change. 877-927-6648. This will be up to the date active trading information that will help you in your daily trading. In Larry's first week alone, he sent out 25 charts, 6 videos, and a full report to his subscribers in just one week. If you're a technical trader that uses patterns and retracements to trade, then Larry's service Fibonacci 24-7 is something that you must try. Right now, new subscribers can get a full 30-day money back guarantee. With nothing to worry about, sign up now to Larry Pezzavento's Fibonacci 24-7 by visiting the front page of TFNN.com under Trading Newsletters. The path of least resistance is David White's daily trading newsletter, and if you're looking for active trading ideas, then now's a perfect time for a 30-day free trial to this powerful daily trading advisory service. David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of learning and his path of least resistance newsletter. Using a combination of equity trades along with options, David keeps his subscribers up-to-date with all pertinent market information with intraday afternoon updates when warranted. Don't miss out on this great chance to get a 30-day free trial to David's daily newsletter, the path of least resistance, with no obligation to pay anything. David has been delivering solid recommendations for his subscribers recently, and if you'd like to see the type of newsletter he delivers every morning, then visit the front page of TFNN, and you'll find the path of least resistance under Trading Newsletters. For all the details and to start your 30-day free trial today, log on to TFNN.com now. TFNN is excited about our new software charting program, the Art of Timing the Trade Chart. In collaboration with Tom O'Brien and using his best-selling book, The Art of Timing the Trade, your ultimate trading mastery system, David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-its-kind program, the Art of Timing the Trade Chart allows you to scan thousands of stocks for Fibonacci formation setups, including guardleafs, ABCs, butterflies, and much more. The Art of Timing the Trade Chart is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, and months behind. And right now, we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade Chart today by visiting TFNN.com. Okay, folks. I got a very unusual email from somebody last night asking me a question. Do I think there's somebody that knows something more than what we know? Well, of course we know that's the case. I mean, there's people out there that know insider information, but there are things that happen that make you wonder. Now, I posted a chart. Now, all you folks that like conspiracy theories, you'll like this. Anyway, take a look here at 9-11, that's September 11th. Now, the arrow that you have there is a weekly chart. So this is the week that ended on the 7th of November, not the 11th. So it ended on the 7th. Look at the big, big down move in the Transportation Index. This is happening when the rest of the stock market was actually going higher. We started to lay heavily on the airline stocks and the Transportation Index. You can see the Transportation Index went from 29,000 down to 1900 in a matter of three weeks. Of course, we were closed those five days after 9-11, but I don't know if anybody knows anything about that. Someone might have just been taking protection, but it does make one wonder why the stocks for the airlines were getting hit so badly a couple of days before the planes hit 9-11. So we'll see some of the things that happened in the market. That's why I'm a technician, folks, because I flat don't know when they're going to turn or anything like that, and the news is just especially nowadays in news. That's why I don't watch it. It doesn't make anything difference to me. If prices are going up, there's more buyers. If prices are going down, there's more sellers. That's all I look at. And it's got me this far, and I'm in seven and a half furlongs of an eight furlong race, so we'll have to just wait and see how the rest of it turns out. The next one that I wanted to talk about, of course, is the commodity markets. We are trying to make some type of a bottom here in some of these things, but one of the ones that we need to be watching today is October sugar. I don't know, Ruby, if you're on, we should be right there right now down at that 78% level. Someone would double check that for me to see if October sugar is trading around 1205, because that probably we'll see what's happening. Well, anyway, watch this sugar because it's a very nice pattern forming. As far as the cattle, someone asked a question about it, folks. There you go. It's 1186. I think that's about it. That's October sugar, right, Maria? I think that should be the bottom. If it's any below that, it shouldn't... That's not good. If it's below 1186, sugar is breaking down. You don't want to have anything to do with that one. Let's just remind ourselves that is it October sugar? Maria, could you double check for me to pull up prices with the radio show going on, and that makes it a little bit more difficult, but we'll find that out a little bit later. Regarding the grain markets, folks, we've got these Chinese talks going on. No one knows what's going to happen. You hear the guys coming over to make a deal. You know, you'll have to wait and see if that's going to happen or not. You know, you can see what happens when a deal breaks and what happens Sunday night. So just be careful in some of these markets. We've got a very, very old oversold condition. There you go. October is 1220. That's the one we want to watch. See, that's... Did October... That's right at the bottom. 1210. Maria, double check for me if you would. And I'm not in this. Someone just asked me a question. Did the October hit 1210? That's only a hundred bucks difference between 1210 and 1220, and November was 1210. I just wanted to know. But at 1186, you don't want everything to do with that. It's got a hold above 12. And I mean, you're talking about a $1,000 contract. You only have to risk $200. I don't know how you can get any closer than that. So keep in mind that's what it's looking at. Remember, folks, do you remember what I told you about my meditation in the morning is to worry about the losing. Those are the ones that get you. Look what happened. Let's just bring this chart up and update it here. I'm going to do this if I can. Maybe I can get the updated price. I'm not sure. But I wanted to bring this to your attention here for sure. And we'll see where we are. And that is this August cattle. Just to show you how quickly these things can break when they break. Now, let me post this so that I can send it out without too much trouble. And then we will have a better idea of what is going on. And I'll show you why you've got to protect your backside. Here was that cattle that we talked about last week at that 108 level. That was a case where you don't have to... That's right on the money. Thank you, Maria. That just hit its spot on. Look at the cattle. They're right there at the beautiful level of that 109. And what do they do the next day? A penny to 110. And then they drop $4 a time. Hold on, folks. My trusty little beeper is telling me that something's going on here. And that is the fact that the... Ah, we're making a little bit of a nice little move here in the soybeans. A very, very small ABCD pattern that I absolutely have an interest in. What happens? I'm watching these July beans at 8.29. We're trading at 8.29 in a quarter right now to see if it's going to see if that's going to hold up. But we'll be able to see later on. Okay, let's move on to the next one that we're taking. And that is these treasury bonds. I have a chart prepared. God willing, it's going to come up. So we'll be able to see it. Ah, shucks. You know what I got to do is I've got to get me an assistant to understand what the heck I'm doing with these darn charts because I get these things prepared and I spend a lot of time doing it. And then you get tired of hearing that. You don't need to hear that, so we'll move on to the next one here. Okay, let's not worry too much about it. Well, that gold backed off $5 from that level, so I'm not sure whether it's going to get back up there again. It looks like it's pretty stiff resistance up there at that level. You know, Steve Rhodes mentioned that that level of 12 96 was the level he was looking at and I certainly respect his work because of all the awards that he's done. He's doing a great job. But that's another one that we want to to watch. I've got to find the dog on bond chart. Shut the front door. I mean, we covered it yesterday. Is this it? Nope, that's not it. I'm going to bring the bond one up to date. See, I've got 47 charts in here to talk about and I can't find them and I've got them marked by name and I'm not finding it, so I must have deleted it by accident. That's two today. Well, 0 for two. That's not a good thing to have happen. All right, let's check it. Check what the markets are doing here this morning. The S&P, we had a little bit of support down there at that 1268 level but frankly, folks, it looks very very good term. No question about it. You saw those charts that I posted for the NASDAQ and the S&P. Both of them made 382 retracements last night. Not a good sign. Not a good sign at all. I'll repost it just to show you the importance of this. You know, that was at you'll be able to see that 1290, 2893. The high was 2899 made a fast tick there and then gave up and now we're trading at 2875. Better hold this level 2870 boys and girls or we're going lower 877-927-6648. If you're in the CD market and looking for a secure investment, the Tiger First Mortgage Program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. The Tax Act of 2018 set up tax free zones across the country where you can build and hold for 10 years and pay no tax at all. The investment is anywhere from 30,000 to 75,000. The interest paid is 7% yearly paid on a monthly basis. According to bankrate.com, the best rate for a four-year CD in the country as of February 20th is 3.1%. 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Tom O'Brien publishes his weekly gold report every Monday morning for subscribers, consisting of coverage of the XAU, HUI, GDX, the Dollar, Bonds, South African Rand, as well as 25 different mining equities with specific buy-sell recommendations. As of April 1st of this year, the gold report currently has an unrealized profit of almost 8% for each open trade. New subscribers get a 30-day money-back guarantee so you have nothing to risk. For all the details and to start your gold report subscription today, visit the front page of TFNN.com. Don't let gold's next big run pass you by. Sign up today. Will the S&P 500 continue to climb for bold trades on U.S. large-cap stocks in either direction? The S&P 500 is the S&P XL, SPUU, or S-P-X-S. Directions daily, S&P 500, bull and bear, leveraged ETFs. Direction leveraged ETFs. An investor should carefully consider a fund's investment objective, risks, charges, and expenses before investing. 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Plus you have a three-drive to a top pattern. If you look at this chart closely, look to the far left you'll see the three-drive pattern that was made at the 61% retracement on the long-term daily at 150-20. Then we had the big breakdown. Now we're rallying back up and we're at the 61% retracement now at 148-26. But I believe we're going to get to the and this is my opinion and this is where we get into trouble. I believe we're going to get up to that 149- 22 level. Whether that happens or not I'm not sure but nobody else is either. So let's pay close attention to that. We've been reminded this morning that we've got oil inventories coming in here at 10.30. That's in 45 minutes. That'll be an interesting thing to look at. The crude oil as we've said many times here the last three or four days is that we have a very strong support level that hit on Sunday night coming in exactly at 60-30. The low was I believe the number was at 60-39 and the low was at 60-30 or 60-29. We're trading at 61-26 but we've been as high as 63. So it's in a consolidation zone but with the inventories coming in today there's always a lot of jumping around looking at those too. So pay attention to that as we look through some of these things. The early morning stock what it looks like from a technical perspective if we can hold 28-72 and I'm not sure we can but the $64 question is we're trading at 28-80 right now if we could get a nice little rally here for about an hour so that would be interesting if we could get it up around 28-95 in the S&P in about an hour that would be a really nice one to look at or even if it got really crazy and got to 29-05 that would be the first ABCD in this move and that would be the one that would be really interesting you know to pay close attention to. So those are just a few of the things that I'm looking at when I was talking about the July beans and when we went below the 8-28 level the number that I'm looking at is 8-25 we're trading at 8-27 that is a 61% retracement we made a low down there at 8-16 we rallied 20 cents a bushel bringing it back to 8-25 would be a 61% retracement and I'd be watching the beans if we get into that level that could be a very very interesting one to look at that's a real fun one to watch right now we're trading at 28-83 in the S&P we'd like to see this get up to 28-95 in about an hour and it doesn't always do that but sometimes it does we'll have to wait it's very oversold right now because of the action that we had last night we got up to that 3-8-2 retracement at 29-90 and change I think 28 and then we broke down 25 handles down to 24-28-72 and now we're 10 handles higher than that 28-82 so let's watch these as we go through this morning and pay sort of close attention to it but the area we're watching is at 28-90 is the area in that S&P to see if it's going to have some any resistance at that level starting early this morning folks we have one other question here about Apple I'll bring that up and we'll discuss it here in just a moment if you have any questions it's 877-927-6648 and that's the area Al said that the lines have just emptied down a little bit people were trying to get through unable to but now they're able to get in there and you'll be able to have your cards and letters answered here by Mr. Rogers then give me one second here and we will get this Apple chart up and discuss it a little bit Apple's in a case where if it closes low today you could get another big island reversal but there's no island let me just this is one of the reasons why I wanted to bring it to your attention someone asked me about that island reversal what happened was you'll notice the island reversal occurred on Monday this is Wednesday and you'll notice that what it did was it went back and touched the bottom of the island so there's no island there anymore so this is not an island reversal pattern in the Apple that's very important that doesn't mean that it's going to be working or not but we'll have to wait and see that's the main thing of what's going on so I don't know we'll have to wait and see if that's going to be the case we'll see what happens it's not to worry okay let's move on to one other one that someone asked me about which was the child Jones Transportation Index and I wanted to show you this because this was another one that was screaming that the stock market was really making a high this past week you'll notice that we had a perfect head and shoulders pattern and when you have a head and shoulders pattern this is brought to your attention in John Murphy's book you know technical analysis you know basically the Bible after Edwards and McGee well I think the Bible is garly but that book was $1500 anyway the head and shoulders pattern you need the head and the shoulders to be equal in time and head to the shoulder left shoulder the right shoulder be equal in time and the right shoulder should be lower than the left shoulder as you can see here in the transportation index it certainly was and now you notice that that thing has started to sell off with the rest of the market given the fact that everybody's talking about you know what's going on in China so that's neither here nor there someone asked me some of my experiences in China gosh I had so many of them I oh I took that trip down the Yi River boy if you ever want to go to someplace spectacular it's their equivalent of the Grand Canyon but man is it spectacular man that is that is one trip into thousands of years of civilization there wow all right let's move on to let's move on to one other one that we have to talk about and that is the British pound the British pound is coming down now to that 130 level it's backed off I think we got up to that 138 we made that 61% retracement on the upside which which was the profit objective hold on British pound where are you there we go sure we coming here we go we got up to that 131 73 we now dropped 160 pips off of that we should be coming in to some pretty good support here at that 130 level that would be the retracement level that we need to be watching here if we're going to re-enter the British pound we haven't got a clear signal on that yet the one that looks the most interesting of course is this Japanese yen because of what it's done it's got a very interesting pattern here and I think it's well we got pretty close to that 2890 in the S&P let's keep hoping we get up there let's move up here to the Japanese yen here for a second wow the break is coming are you kidding me where does the time go shut the front door and raise the rent let's put up the Japanese yen here and oh we're almost there in the Japanese yen we broke below the 900 level just a little bit 109 level but we're getting close in that Japanese yen you got to watch it 109 877 folks very interesting 877-927-6648 I'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trait that we tigers and tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of Mastering Probability and for the last 12 months timer digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6, and 3 months timer digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do sign up for Mastering Probability today by clicking on the newsletter tab on the homepage of TFNN.com and get 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using the Chapman wave methodology to advise traders of his expert market opinion while originally hand drawing charts from the late 1970s into the 1980s Bazel noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Bazel found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators Bazel Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a 2 week free trial of the opening call Bazel's daily trading newsletter by visiting the front page of TFNN.com cancel at any time during that trial and pay absolutely nothing get your 2 week free trial to Bazel's newsletter the opening call today by visiting TFNN.com this segment is brought to you by Think or Swim for more information just click the Think or Swim banner on the front page of TFNN.com ok folks this next chart comes from our good friend Rich Anderson and Simon Lee if you'll look at the double top that we've had there from 2018 and 2019 you can see the three drive that formed there at the high just a week or so ago but what's important here the red lines are the gaps from the past and the blue lines are the gaps in the future in other words the first gap to be filled is at 2836 this is the cash S&P the next gap under that is another at 2784 there's still a gap there there's another gap at 2744 and then the final gap is at 2718 which is interesting because at 2718 I mean that's a long way down 200 points where we are now 180 you're looking at a 382 retracement that just shows you how bullish that doggone thing was way back in December so those are just the gaps are filled you don't see very many unfulfilled gaps but might take a while for them to be filled but that's what we're looking at the first gap of course is at 2836 the second gap the important second one is 2784 now we believe we're still way overbought on a weekly chart not so much on the daily but keep an eye on these numbers because these gaps will be filled and the first one of course is at 2836 the second one 2784 the third one 2744 and the last one 2718 so if we pay attention to those that'll give us a pretty good idea that we're able to see some of these so that's what I think would be rather important to take a look at these so that's mainly what we're looking at today so live every day in an attitude of gratitude may God bless and try to do something nice for somebody else folks that's what we're here for it's not what we get it's what we give that's what life is all about the words from our good friend Winston Churchill so live every day in an attitude of gratitude my friends