 The following is a presentation of TFNN. Trade what you see with Larry Pezzavento all now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now Larry Pezzavento. Okay folks, we're going to talk about hogs here for that same reason when we were beginning the show. Rich said that the one of the big hog fundamentalists came out and said to sell hogs this morning on the opening. Of course it's had a pretty big run up here. When I talk about these folks, when you see whether they've made a decision to do something and is wrong, I am certainly not trying to say, you know, bad mouth them in any way because everybody has their right to their own opinion. I really believe that. Let me tell you a quick little story back in the 70s from 1968 when Conti Commodity opened there on Wilshire Boulevard there in West LA right by UCLA. They had seven brokers in the office. They had several hundred customers. I happened to be one of the larger customers and I had gotten lucky and I'd made really big money. Well, seven figures was a lot of money back in those days, especially when you come from Little Town in Indiana where not many people made that kind of money. But as the market was going up, many traders were, you know, my friends that were trading there would have trouble they'd go into debits and I was making a lot of money. So I was, oh god, I tell you how arrogant I was folks. I mean, I don't even want to tell you some of the stories because they laughed about it later. But mainly what I wanted to do was to bring this to your attention. The fact that we're looking at this here today in the hogs because we said yesterday that it was going to make an equal move right here. It's exactly what it did. Okay. And that was right at the 382 was logically ready to take profits today. Now's today is the day to take the profits. And the reason why is I didn't finish the story. Let's do this first and then I'll finish the story. We have a one three five pattern set up now in hogs. This is still a bear market folks. You can see that there it is right now. There's your one, there's your three, there's your five. This move should have extended that far and it extended almost to the exact amount. You can see that how it's almost at the exact level. That makes this a perfectly symmetrical one three five pattern. It really is. So we're just going to take a look at this and put this over here like that because there was the ABCD to the downside. Now the last thing we want to do and I can tell just by looking at it that the symmetry is off just a bit, but we got to do got to put the other one in. Otherwise you won't be able to see it and you'll see it doesn't quite react. It actually comes near low. So you don't have good symmetry, but you have everything else. You have a 50% retracement of this high right here. And if you measure from your high on this November the 6th down to where we are, you're setting exactly at the 61% retracement right here. So this is the place where you want to be getting out of long hogs and possibly even going short. That's what I would be looking at. So that's why I'm watching the hogs here today, finishing the story over a period between 1972 and 1974. I think I gave as loans about a little under 50 grand, maybe 48,000 something like that. Of that, I probably got 30,000 of it back. Some of it I just never expected to get back. Other I got a few assets that someone gave me a painting or something like that, a wristwatch. I didn't want to take it, but that's what they wanted to do. But I kept doing that until I went under, which was in October of 1974. And that's when I learned humility. Hold on, we got a caller coming in. It's John from Philly. John, what can I do for you today, my friend? Larry, please finish that story about humility in 1974. Yeah, well, I learned it the hard way. And the good part was is I still retained all the friends and it was really something. But you know, some of the things that I did, John, were so, oh God, they were so abusive to other people that I just can't believe I did it. Someone would sell a pork belly and I said, how can you sell pork bellies here? They're going to be going up for another five days. That's a silly trait. I would say stuff like that. And none of the other brokers ever said anything to me not because I did a lot of business there or not. But it wasn't till I went under and people, no one ever came up to say, well, how does it feel now? No one ever did that. I had that feeling all by myself. And John, I know you've gone through it too. But until you go through it, you have to have that humility there in the markets because, boy, these are humbling experiences here in the market when you're trading these things. I tell you, it's very, very, very, very difficult. Anyway, what can I do for you, my friend? Larry, I had an analogous epiphany and experience and mine came 13 years after yours. Yeah. Well, we all have them. The one thing, John, we don't have to go through it twice. That's the best part. Yeah. The funny thing about life has a neck for slapping you around good. And frankly, I think humility is only learned by that mechanism being slapped around. Some people learn it quickly. Some slow learners, like myself, got to slap me around a couple of times before it sinks in on me. Yeah, that's for sure. That is absolutely for sure. Anything you see in the markets today that make you exciting, John? I'm calling you to ask if you'd post your chart work on soybeans. I'm focused upon the old crop soybean contracts. Okay. The January contract is about to expire. So it's the market contract, which is a lead contract here right now. I bought a couple of contracts somewhere around 10 a.m. this morning. I can see potential that today and yesterday's lows, that's 1234 and 36, respectively, have carved out a short-term low. So I wanted to see what you saw in your charts on that particular topic, please. Well, looking at the daily on the March, I've got the daily up here so everybody can see it. We're trading about four cents under the 61% retracement. The fact that we went below it for several days is not unusual, especially when you have weakness in meal like we've had, but soybean oil, which we've been long, has been very, very strong. It's up over $1,000 since we bought it down there at 46.60. And I'm recommending that you put your stop and break even because the oil looks much more bullish to me than the beans do. But the beans still have a chance. John, you've got the right price because it's rallied about 13 cents off the bottom today. So it should not take that low out at 1233. That's what I would say the risk is. If you were above the 618, I'd feel a little more comfortable, but beans do that sometimes. So I'm not going to be negative to this position because I do like it. This is the first update. We're just barely up the first update out of eight. As you can see here, we've gone down one, two, three, four, five, six, seven, eight days. Today's the first day up, and that's all we need is a little bit of a rally. And this thing could have legs to the upside. So that's what I'm seeing here in the March beans. I appreciate that. We'll take a one step at a time. Just parenthetically, I'll mention in the tiger's den I posted. Stay with us. Stay with us. We got a couple more minutes yet. Stay with us. We'll be back with John Chubbany here from TFN in the chat room, and we'll be right back. Steve Rhodes started his trading career as a student almost 20 years ago, and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing it number two for the year. An amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn, and he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 days risk-free today. TFNN Educating Investors. 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. Stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to your inbox. Whether you're a seasoned trader or just starting out, Market Insights provides the edge you need to navigate the markets with confidence. Ready to join the ranks of successful traders? Head over to TFNN.com and subscribe to Market Insights today. Don't miss out on this opportunity to supercharge your trading results. Market Insights comes with a 30-day money-back guarantee for all new subscribers, so you have nothing to risk. Don't miss out on this opportunity to revolutionize your trading game. Head over to TFNN.com right now to join thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter, Market Insights firsthand. TFNN Educating Investors. Tom O'Brien has been educating traders for more than 20 years, with live programming hosted by a variety of professional traders during market hours, and now they are expanding their reach with the Tiger's Den. Available to all tigers and Tigris' for just $1 for the year. There's no cash or added costs when you join our community of traders. In the Tiger's Den, you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas, interact with other tigers and Tigris' as they share trading ideas, news analysis, and discuss the market action all trading day, even at night and on the weekends. The Tiger's Den at Discord is accessible on mobile or tablets as well, so it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of TFNN.com. Toll free at 1-877-927-6648. Internationally at 727-873-7618. Okay, we're back folk. We're talking with John C. from Mr. Zee from the trading room there at TFNN. John, you're making a comment. Please continue. Yes, Larry. Let me just summarize three key points on these beans. One, the decline we've had of over 10% in the past three, four weeks, the fundamental driver that's precipitated the selling has been improvements in what had previously been adverse weather, growing weather down in Brazil. So that crop is now in full bloom and a decent crop seems to be almost baked into the cake. That's number one. Number two, I observe the spot sort of being contract low. I believe that was like October, was down at 1251. And then we bounced in November. Now here in the past 10 days, we've come down, traded below 1251. And now we're threatening the snapback above that level. With this formation, a pattern that comes into play that was taught to me by somebody I know you know, Larry Jim Flanagan out in the Los Angeles area. He would call 1251 low, lower low 1234 this morning, snapback above 51. Should that occur, he'd call that a bear trap to a bottom pattern. Of course, doesn't guarantee a bottom, but it's certainly a candidate. And then the third point, Larry, I just make mention in the Tiger's Den, I posted the monthly in chart going back seven years so we can see lots of history. I'll just observe on that, that the fall low of 2021 was right down in the $12 area. So we're effectively there. And I just can envision a scenario in which we settle low kind of in the neighborhood of a prior low and then something else happens. So I appreciate your help, but that is what attracted me to bottom picking in here. That's not a bad play. I like it. Your risk is controlled, and that's what you have to worry about, my friend. So stay with your game plan. You're going to be just fine. I'm sorry to interrupt. I did want to ask you, you mentioned the study for the foundation for the study of cycles meeting ongoing. I believe I heard you mention corrector on the doctor to speak. And if I heard it correctly, what I can tell you is he will be the talk of the town or lots of people will be very interested in what he has to say because it was two years ago, he came up with a Dow Jones industrial average calculation. A calculated rally target of 37,775. Interestingly, the high in the Dow was Tuesday was just 40 points higher than that. And of course, we have no idea whether or not that was a top of any consequence or not. Of course, only time will tell on that. But with corrector having made that calculation a couple years back with the price high last week, lots of people, I'm sure, are going to be interested in his interpretation thereof. I agree 100%. When I saw that number hit, I saved that chart from two years ago. It was November of 21. And I copied it and I sent it to him, but I never hit. I didn't expect to hear anything because you and I were just pebbles in the sea, so they're out there on the cruise ships and we're just trying to scrape a few bucks off the shoreline and these guys get all the headlines, which is fine. But I thought that that was a tremendous price projection. And that's exactly what it was. He was looking for a top in 21, which came in January of 22, but it wasn't the top, the top. We don't even know where the top is as of yet, but we did go higher. So I'm anxious to see that today if he even brings that up. So we'll, you know, that, well, you want, you know, John, there's an old Polish proverb that says, if you keep your mouth shut and remain a fool, it's better than if you open the mouth and remove all doubts. So I'm not going to say anymore about that. Precisely, right, Larry. I like that saying very much. Actually, it was an Italian proverb. I don't even know if it was Polish or not. It doesn't make any difference. Hey, listen, buddy, we appreciate everything you do. Thanks for your input on that story being contract and we'll take it step by step. Okay, you got it. All right, let's move on here. We've already covered the hogs here and so we're going to, we'll be watching those tomorrow now. And now the next one we want to take a look at here. I guess, well, there's no sense going through. Yes, there is. Let me just go through what John was telling us about here. Let me get this up here. I want to get this. This is the Dow Jones. This is the Dow Jones futures. Okay, now this is not the cash. John was talking about the cash. Now, here's the A, B, C, D in the futures. It measured to 38,11112. Okay. And the high was on the 29th, 38,113. It was one tick off of what that A, B, C. And I double checked this mathematically. In other words, I added B and C together. Subtracted A, that gives me point D right there at 38,1112. And the high on that day right here, which was January the 5th, was 38,113. So it was one point higher. So we have to review that as a failure because it went one tick higher. If it's not perfect, my goodness, you certainly can't count that, would you? Just like this one here was off about 10 points. Anyway, this is what we've had happen. Now, since that time, since we're talking about this, very interesting what happened yesterday, because we were expecting this time period between the 8th and the 10th to be really big. And so we'll get up here. We'll just look at the 13 minute chart here. Here's where we were yesterday. If you remember, I went through this whole sequence of the A, B, C, D to the downside here. This is simple A, B, C, D. There's A, B, C, D. It measures to 37483. The low was 34770. So I missed that one by 13 pips. Then it went up and made a new high. It did not, it exceeded the 61 percent retracement of the high back here. It did not make the 78. But then we broke today, and you'll see here today's low. If you just go back and look at these numbers, and believe me, these folks that are out there know these numbers. We went down to the 61 percent retracement, stayed there for well over an hour. Then we had a rally. The rally back went right up to the guess what, right? Almost the 61 percent retracement. Misses it by a little bit. There it is right there. So we missed it by a little bit. The Dow Joe, the E-mini S&P, however, was absolutely spot on. Now all I got to do is find it right here and get up the 60 minute, and you'll be able to see it. Here's where we are. Okay. Now there is the rally that we had yesterday. There was a 382 off of the bottom right here. There was a 382 off of the bottom today. Okay. We went up and made a new high here, folks. Did you see that? We just made a new high. Whether that means much, we'll have to wait and see. We'll be right back with Mike Moore of Moore Analytics. Stay tuned. Gold Report As a precious metal, gold is still king. It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market, the US futures market, and the Shanghai Gold Exchange. The Gold Report Tom O'Brien publishes his weekly gold report every Monday morning for subscribers, consisting of coverage of the XAU, HUI, GDX, the dollar, bonds, the South African RAND, as well as 25 different mining equities with specific buy-sell recommendations. The Gold Report New subscribers get a 30-day money back guarantee so you have nothing to risk. 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We've got a lot of interesting moves afoot and just about to happen. Okay. Why don't you tell us to start off with the oil market? I think that would be to do the whole complex too. I think that would be great for us to see it all. Okay. Can you see my screen? I think so. We're in business. That's what they're telling me here at TFNN. You want to start with oil or natural gas? Either one would be fine. I think the difference. Let's start out with the crude oil. That's right. Basically, I'm just going to do a high-level view on the crude oil in general. This sort of goes for the unleaded gas and the heating oil, the same structures there. This main structure that we have down from September of 2023 is very similar to what we see in the unleaded gas and the heating oil. My contention is that we may be in a macro bullish correction against it. We'd hit some of the targets that we had. In the Arbob, we'd had that target we talked about in the last show up in here at 221.68. We upheld that and rolled over here. But the heating oil never reached its minimum target, which was up here at the 278.30 area. We rallied all the way up there, came back down, and we've had this lower time frame structures in here. I'll go back to the crude in a second. This structure right here is a completed bear structure with a completed bullish correction right here. Right now, this is at a key area right in here, just these couple lines right here. Either this is going to hold and roll over and start a new bear structure, or if we break above this line right here, I think this could project this up and maybe hit that target right there. We've already broken above a bullish formation right here. This is where looking at the products can help you in trading the crude oil. Right now, the heating oil is broken above a bullish formation that projects at higher, keeping in mind that we still have to deal with these two exhaustion levels. Once it takes out the upper one right here, then that suggests we're going to head right up to this level and maybe head up to these levels. That level right there is going to come in at 268.84 to 269.29. But before that, we have this level here, which is even a formidable level of 264.97 to 265.75. We also have this main formation line coming in here. That comes in at 265.65. Before I jump around too much, let me just give you a little, I'm going to kind of go backwards here. We're going to start with the heating oil. The trade above 259.34 projects this upward, 7 cents minimum, 11 cents plus maximum. Then that warned about these two exhaustion levels right there. If we take out the higher level right there, that'll project this upward another 14 cents. Just as a reminder to the viewers, if you want a reminder of how that translates into crude dollars, you just do that times 0.42. A 14 cent move in heating oil would be the equivalent of $5.88 in crude oil. That's $5,800. That's a lot of money. Exactly. It'll be a formidable move. If we were to break above this line decently and fail back down through it decently, then that would warrant heavy pressure to come in. That would also be in alignment with the new bearer structure. The point being from what we were just talking about, the heating oil is the first one to break above a bullish formation, which can be a hard binger of what you're going to see in the Arbab and the crude oil. Now, interestingly, the Arbab broke below a bearish formation yesterday. Saw the projection we were looking for to the downside, and this is kind of rare when these diverge like this. The Arbab right here, I'd said the break below 2097.10, we're bringing pressure. We saw $8.99 of pressure before holding an exhaustion level down here and bouncing a bit. Then the crude oil, and again, I know I'm jumping around a little bit, but it'll make sense. No, you're doing just fine. You're making a great case for this. This is perfect. That's what we'd like to see. Now, the crude oil is between this main formation right here and this main formation right here. This is waiting to see whether we're going to pop to the upside and see significant strength or whether this is going to roll over down below. Right now, your unleaded gas is below a bearish formation, but your heating oil is above a bullish formation. These are going to have to reconcile one way or the other. Either the Arbab is going to get back above its formation here and then start to rally, and this formation, we're not that far away from it. That comes in at 210.88 plus three ticks per hour, starting at 2 o'clock PM. Decent trade above there will warrant a decent strength. What do I mean by decent strength? If we get above there, we're probably going to head up to test these areas at least at 2.17.34. Then we have another formation right above it that comes in at 2.13.27. Then an even bigger formation up here that comes in at 2.17.83. From a trader's perspective, it's a nice setup because you already know that the heating oil is broken above a bullish formation. If the Arbab got above here, you could get long above this formation. Once it breaks above this next formation, move your stop structure up underneath that. Once you're broke above this formation, move your whole stop structure underneath that, or add on to your positions, and then you'd be layered in for a sizable move to the upside from here. If we saw those projections, that could be six or seven grand per contract, just from the upper levels, let alone be in long for three grand a contract from the lower levels. The heating oil has been the leader of the market so far. Right. It is the strongest out of the three relative to the other two. If this comes off, the gas would be the weakest. We can tell that again by looking at the spreads. We looked at this the other day in the last show. We broke below this formation, which got us bearish. We've been coming off, then we broke below this major formation, which got us even more bearish, and another bearish formation. You can see the difference just paying attention to the difference in these contracts right there. That's to the tune of six grand being long the heating oil versus the unleaded gasoline or vice versa. Okay. Good. Good. The heating oil crack also, we broke above this formation, which I said to get long above right here. Just in a couple of days there, you're talking almost two grand per contract, whereas the Arbob crack is still below. Wow. Could you go back to that first one? The one that's right there. That is really amazing. Now, explain to the folks, including the old cowboy out here in Tucson, what you're looking at when you're looking at this chart. This is called a heat crack. The reason why it's called a crack is because when the crude oil comes into the refinery, it goes through a process called a cracker. And it basically cracks out of it or breaks out of it. Wait a minute. Stop. We got to do this again because we just went into a break and I want you to do the whole thing from the beginning, explaining what that is. Okay? No worries. Yep. Okay. We'll be right back folks. Mike, more and more analytics. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key in disease, selective stocks and commodities, subscribe to the opening call newsletter at tfnn.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. 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The prospectus or summary prospectus should be read carefully before investing. An investment in the funds is subject to risk, including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, Foreside Fund Services, LLC. Just to say this to any listeners or watchers, look, I understand understanding new concepts can be a little bit confusing and sometimes we just check out when people present the new concept. But if you can just bear with me a moment here and drill down and really pay attention to what I'm showing you here, this is one of the most powerful things that you can learn as far as trading energies to give you an edge. There's three spreads that are important. The Arbob Heat Spread, which is the spread between the products of crude oil. And there's the Heat Crack, which is the spread between the product of heat and the underlying crude. And then there's the Arbob Crack, or Arbob's another word for unleaded gasoline. And there's the Arbob Crack, which is the spread between the unleaded product of the underlying crude. If you understand the relationship of what those spreads are doing, it gives you a huge advantage because the products are leading the direction of the crude oil, 85 to 90 percent of the time. So this spread is the spread between the heat and the crude. The front part of the spread is the heating oil and the second part of the spread is crude. So if you are long or bullish the heat crack, that means you are long in the heat and you are short the crude. When this is moving upward, it means that the heat is strong relative to the crude or the crude is weak relative to the heating oil. So the underlying market could be going down, but this spread could be going up because the crude oil is going down harder than the heating oil. Okay, I got two questions. The market could be going up or the spread could be going, the market could be going up and the heat would be going up stronger than the crude oil. Does that make sense? It makes sense. I have a question for you, Mike. I haven't rated spread since Hector was a pup and that dog 72 years old. The thing that I'm going to ask you here, when you put a spread on, you put it on as a spread, in other words, you buy the heating oil, sell the crude, or is there a function that they have that will show you that you're going to be in the spread? Another be long July oil, short July meal, something like that. Does it have to put on each leg separately? You have to be very careful with the platform that you're trading through and you need to ask them a very direct question. First of all, you got to see if your platform even allows you to trade the spreads. CQG is an excellent platform where you can trade all of these, but other platforms have limited functions. If they allow you to trade this spread, you have to ask them, when you are trading the spread, am I trading the exchange traded spread itself on the exchange? Or am I trading a synthetic spread that my platform is putting together for me by executing both of the outright separately? Wow. Does that make sense? It makes sense. It's not for the faint of heart, but it certainly makes sense. But it's important though, because you really want to be trading the exchange traded spread, if you're going to be trading the spread, because other haywire things can happen otherwise. But nonetheless, even if you're not trading the spread, the spreads are very pretty thin, but you can catch enormous moves in them. So even the slippage can be worth it, but the power is what they tell you in how to trade the outrides. So obviously right now, if you were long this heating oil instead of the crude on this move up, just in the past two days, you'd be making two grand more per contract just on that move. And since this is the one that broke out on the upside, if this whole move starts to really get underway, you're likely to make far more money being long the heating oil than the crude oil or the arbor. Okay. Cool. All right. You want me to jump to the arbor? Yes, sir. I want to see nice crack spreads. I like these. These are very interesting. They give you information that I'm not access to. So please continue. And by the way, I don't really go over on my analysis, but my analysis, I do all the outrides. And then on the bottom, I have all of these cracks and these spreads down below. So they tell you which ones to be long, which ones to be short and what the biases are. And it's also a great other source of revenue because you can be, you can just be long the heating oil right here and short the crude oil itself in this spread of me making two grand off. Now, the margins are much less on a spread. Is that correct? Yes. Okay, good. I might use about 50%, 50% less or what is the percentage less? Do you know what it is off hand? I haven't checked recently, but they're not significantly less than the crack as they are on like a calendar spread would be different. But so let me just jump to the natural right here because we did have an important move that happened today. But we sure did. That said in the natural gas here, we've been bullish since the break above 22180. We'd seen 840 ticks of that coming into this morning. But I also said, see this line right here, I said solid trade above 30180 will warrant a solid strength for days slash weeks. And I rarely ever use the term solid. Solid would be a term that I use in replacement of decent. It's a specific number that would be different. They send that out in my morning emails to my traders and clients. But nonetheless, you can see I broke above this line just today. And as we broke above 30118, and we're really screaming to the upside right here, 30118 was right about in here this morning. So we popped above there really starting to see that. And I think that that's going to likely bring in trade back up into these levels up into the 36430 area, probably test above there. So significant moving there. And we'd also talked I think on the last show that, you know, we were making this sort of basing figurine here, we broke above here, that's where first got bullish here, then we get more bullish in here. And then just yesterday, we'd failed below a formation, failed to see the pressure come in. And I said, if we broke back above it to look for decent short carbon or strength to come in, and we've seen that strength come in right in there. So you want to take a look, any questions on that? You want to take a look at the No, that's great. Go to the next one. That'll be fine. Let's do natural gas. What's that? Have we done natural gas yet? Yeah, that's natural gas. I was just looking at. Okay. All right, let's let's move on to the next one you want to talk about is fine with me. If you want to do the S&P, that'd be great. Yeah, S&P here is really key because we're in a really critical area right now. I'm sure a lot of you've been watching this show for a while. So you know that I've been bullish since 41-15. You held out with the 41-22, 25 low and bounce 719.25. We had a lot of other bullish formations. I won't go over. I put those all on hold because I warned you're likely in the last stretch of the structure up from 3502. And I said, if we start a bearish correction, it'll have a minimum target of 512 points down from the high. So that target would currently be 4329.5 on the downside. We've seen 139.5 of that. And we had a couple other bearish formations. Those are on hold because we're in a lower timeframe move up against this move down from the highs. So I said we're in a lower timeframe, bullish correction or trend against the move down from 48, 41-50. The final possible exhaustion right here above at 48.08 and a quarter to 48, 11-75. That's a little bit different right now. Okay. Let's take a break. We're going to be right back with Mike Moore for analytics and he's going to give us more information. We'll be right back with Mike. If you're looking for potential trading setups in the stock market, then rocket equities and options report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for rocket equities and options report today with a 30-day money-back guarantee so you have nothing to risk. For all the details and to start your subscription today, visit the front page of TFNN.com. TFNN, educating investors. Everything in the universe is governed by the Fibonacci sequence. 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Head over to TFNN.com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter, Market Insights firsthand. TFNN Educating Investors TFNN has launched the Tiger's Den, hosted at Discord. TFNN has been educating traders for more than 20 years, with live programming hosted by a variety of professional traders during market hours, the Tiger's Den, available to all tigers and tygruses for just $1 for the year. There's no catch or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. 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. That's TFNN.com and hit Watch Tiger TV. Okay, we're back with Mike Moore, more analytics, and could we do the gold market, Mike? Sure. Okay, the gold, we just completed a bearish structure here, had a bullish correction against it, and I believe that this is the start of a new bearish structure to the downside. Unless we take out this formation above, which is going to come in a second here, at 20, 60, 70, minus two ticks per hour, starting at 1.30 pm. If we break above there, that'll project this upward $40 plus. But otherwise, I think that this is poised to continue lower. And from a very high timeframe basis, just as a reminder, I think that this may have been the last stretch year of the entire move up from 2015 of November. And this could possibly be the failure back down below all these highs could be the beginning of a new higher timeframe bearish correction. If it is, the minimum projection for that is 1681.60. Wow. Mike, how do the folks reach you if they'd like to, you know, avail of your letter and stuff? Can you give us a... Sure, you can reach me here. Everybody see that, all right? Yep, we're good. Read it slowly because people are in their cars, you know, they want to listen to it. It's more analytics.com and more is spelled M-O-O-R. There's no E at the end. It's just M-O-O-R analytics.com. Or email me at our more analysis at gmail.com. But the website is not more analysis. It's more analytics.com. Okay, now listen, we're going to have you on again very, very short, probably next week. So stay tuned and we'll have you on back again to look at some of these other crack spreads and things because people need to look at this. Thank you very much, Larry. I appreciate it. Thank you, Mike. You bet, Mike. More analytics and class act. We'll see you all on the flip side tomorrow and may God bless.