 The following is a presentation of TFNN, the Tiger Technician Hour with your host, Hazel Chapman. Call now, toll-free at 1-877-927-6648. We're looking at this Thursday. The Dow is up 172,000, 37,600 a month. Look at the way the Dow just refuses a couple of red candles, but mostly it's green, green, green ever since December, let alone the October 27th low. But what's really important about this is that you see this rectangle again, the daily chart on the left. My anticipation has been that the Dow is going to trade in this rectangle for a little bit. What's a little bit? Well, I suspect that we need to wait at least another week because we made a new all-time high already this week. That was on Monday, and that was on Tuesday. That implies that this candle right here, we can't talk about it as if it's closed because it's a weekly chart waiting until Friday at 4 o'clock. If there's a doji candle and no new recovery high all of next week, then we're going to be looking at something very interesting, a high-level consolidation saying that the 37,000 level in the Dow is going to be a real important support level and we'll go from there. In the meantime, look at this. What's different about this is look at the S&P. The S&P, green candle right now, 8.33 at 47.13, has seen this tiny little doji candle at 47.93 on the 28th of December become the ictus for a turn to the downside, but not a very severe one. We've only just looked at the low that was made, the big red candle at Wednesday, the 20th of December, I believe it was Wednesday, of 46.97, 82. We've gone to 46.96, so we haven't even taken that out yet. It's important to always monitor and look at what you're looking at in terms of rotation. Rotation says the Dow 30, which is not the Dow industrials, it is the Dow 30. The Dow 30 is holding really well. The S&P is weaker than the Dow. The QQQ is weaker than the S&P. It is down 47 cents at 397.90 right now. The 9-period moving average is so close to turning down, but it hasn't. And that just says there's internal strength. Be careful. And that weekly chart, I called that a doji candle from last week. Very significant. We have to wait to Friday because the day is young. Anything can happen. The market is really on a very neater position. I mean, look at this. You've gone 1, 2, 3, 4, pretty sharp. Even that red candle on the 12th of, on the 28th of December in the QQQ at a PG says, oh man, four days, you've taken out a lot of days on the left side, about three weeks worth of price movement. So that says you week, but wait a minute. What's this? This is the S&H is down 91 cents at 165.12. Now the high that was made with the Chapman with two bar reversal on the 26th and 27th, I believe it was December at 176.75. Very next, that's all time high. The very next all time high is 176.73, wasn't it? Yeah, 73. Two cents lower. Well, what's really important about that is that the move to the upside, especially the move that came early December from about the 156 level to the 175.86 high of mid-December before it pulled back and they made those two made an all-time high, pulled back and then went to two consecutive highs. This says to me that there's a digestive phase going on in the S&H's and it should impact the general market. So it has done that up till now. Going into Friday is going to be another thing altogether. Why? Because if the S&H now down only 75 cents actually closes by Friday above 170.32 into the 170. So 170.32 and it's at 165 right now. That's a lot of movement to the upside and today is, hey, what am I talking about? Today's news, they've already got today and tomorrow to go. That's going to be a big ask. That's going to be something but what if by the end of the day, I should clarify, we are short right from the high. We've got a very small aggressive short position, three times short. We are long, that short position. Taking nice gains off today already from our entry point, actually it's up about 25%, but that's not the issue. These things move so quickly. So if the S&H is closed because Ratties that are attempted all day just can't get the traction. It's like they're in quicksand. Just the wheels are spinning and just what happens is if it closes the load so far today is 163.97. If it closes anywhere under 164, then we've got one day in which to get a very big leap to the upside. That's going to be tough. I see a lot of new buying coming in from early this morning. Started a little bit late yesterday and then it kind of continued little bits of buying power. How it holds is going to be very important. That's the moment. Number two is within the context of the weekly chart, this is a very big red candle. It hasn't had red candles like this since the October declines. So it says to me where we close on Friday, tomorrow at 4 o'clock is going to be very important for this candle. If we close into the 160, as I say, 163, that's not so good. If we have a balance that we can get to the 167.50 area, that's going to be very important. All right. With that said, I need to just go on. IWM Russell 2000 is up. 167 cents of 184.60, 194.88. It's underneath second date. It's under the 14 period exponential moving average. It just says it's kind of tied. Also, all little dojo candles at the top suggest that this is a very important near-term consolidation. Those weekly charts, we have to wait to Friday before we can even consider them. And let's just go quickly to gold. Gold is up any. Sorry how some of you might have fallen off your chairs. Up eight at 2050. Just kind of sideways. It's not really going here. It's not going there. It's just kind of in sideways consolidation. Silver. Let me do this. I've got a lot to discuss. Questions came in at the den and also the YouTube. Welcome, Bank, from Peru. We've had a number of people over the years from Peru. Welcome. And 22.08 down 7 cents in silver. Just a little lousy looking chart. Let's go to high grade copper. High grade copper is down .02 and 3.83 under the 200 period moving average we want you to look at. Had a question. Let me do this on the way. Let's see. IGV. I want to do the IGV. But I had first questions came in. All right. Let me finish up here just to say the TLT down $1.35 $9.37. So my contention exactly a week ago I was saying I'm anticipating from the work of my charts that crude oil should bounce a little bit. Bonds, the yield should go higher and the dollar should rally quite strongly. All within a very limited capacity but from the low to low. The other thing I want to look at is when we get back I will look at A.N. That's really important A.N. There's automation in. But if you see I'll be back in a moment. 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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. All traders during market hours. The Tiger Stand. Available to all Tigers and Tigresses 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. At 1-877-927-6648. Internationally. At 727-873-7618. Let me just finish this here. So, I always follow the nation. I don't remember the name of the CEO, but I've always gone pretty straight on. They've made a peak effort, about 180, about, was that April? No, what was that? August. No, no. July. July of last year and it's been coming down since and then had a bit of a bounce. And it's down 33 cents and 143.02. So, it's filling this gap, the gap that was made mid-December from the 140 area to about the 144s. And the weekly chart, this is a peak A right there and a peak B right there. You know, from everything I'm looking at in this, in the left side data chart, the middle is the weekly and the right side is the monthly. Overall, the nine-period moving average is still positive in the monthly chart. Shorted term, it looks very weak. And the MACD has gone down. The Stegasics under 80 at 68% relative strength is weak. The nine-period moving average is a whisker away from crossing negative, but it hasn't. So, that still shows you internal strength. My suspicion is that 141.15 is the 200-period exponential moving average. You see in that how it was resistance, resistance, and then we gapped up probably on news, maybe earnings, spiked it with D and an E, doji candle recovery high at about 154. Then it pulls back now at 142. So, it's 12 points down. And I think it's going to test this. And it could hug this line for a little while. So, what am I looking at? I'm looking at the 141 level as the magnet. So, my suspicion is that it'll get there. It might bounce there and then maybe slide under it and then come back, but it's going to hug the 141 level over the next, I'd say, into next Friday. So, over a period of a week, maybe six sessions, I'd be looking at it limited upside to 144.50, but the downside, 141 is kind of like a magnet. And if it was to go, today's low is 142.01. If it had to go to 141.78, click. That two-interpreter moving average will just grab it, 141.15. So, upside limited, downside is only limited because this is your support. I would not be surprised when this is all over and it actually wants to start running again. It has tested the 138 to 137 level. That's just why I'm doing it on a purely visual basis. The technical basis is that, on the weekly, I want to see where it closes tomorrow because if it has an even deeper dip by the end of the day, instead of being down 57 cents, it's down $1.10. That says that weekly chart suggests it could go even lower. All right, I hope that helped. Your next question is, where was it? IGV. So, IGV, this is a very important index. This is the ISHA's expanded tech software. All-time high, 448.79, back in November of 2021. I've done my homework here on the weekly chart, made a lot of 235.41. This is the big rectangle formation that turns into a large lopsided gravy cup. And it says that this green, chaff wave inside wedge target repellent line has done its job, it repelled the price. Until it trades on a monthly basis, starts at 418, and it's at 488 right now, it's 30.9, it's 10% higher. I have to consider that this is in a digestive phase. I also want to mention that I'm still going to call this a leg, a pink B at this particular point. I might have to call it an alternated G-V, and this goes to a C, and this becomes a D. I might have to use alternate counts in the weekly, the daily charts in a cell mode right now. I can put the cell signal. I'm sorry, I need to wait for the decisive close today underneath that 14-period moving average to see if the S, meaning the 9-period moving average, closes under the 14. Now, this is going to be very interesting. I think we looked at this recently. What I said is this technique that I call the Chatham Wave Instant Restart, we're at a peak D, the fourth highest peak, within three sessions, there's a new recovery high. Then you can consider that there's an alternate count, E slash A in the back of your mind, F back of your mind, slash B, G in the back of your mind, C, I actually typed in C, and what did I say for the last, oh man, it's over a year, but I've been saying this over and over and over. Yes, you get peak Gs, but don't forget that so often, especially if the MACD is strong, or the 9 is over the 14, in this case the 9 is over the 14, that there's a really good chance you're going to get a brief pullback, then you're going to get your D, and then you've got to be careful. So IGV, the iShares expanded tech software, ETF is in a cell signal, very, very close. I mean, I'm just like a whisker away from calling it a cell mode. We'll see tomorrow, at this time tomorrow I might say that it's a cell mode, let's wait for the end of the day, and that weekly chart has, it's on the 200-period moving average support of 388.71, but 379.85 is the 14-period moving average, and from everything I'm looking at, there is a really good chance that that 14-period moving average of 380 to 379 is going to be hit over the next week or two. That's why I'm looking, actually I'll say it's a weekly chart, so let's call it in January, all right? So let me sum it up, daily, short-term, negative, weekly still very positive, a little digestive phase, monthly chart making high highs and high lows, that's still bullish, Mac News, good stochastics at 89%, on balance volume is very disappointing, there's been, and if I was looking at some of you might have seen over the years, 1929, how the advanced decline line was declining for quite a while, a long time, like a year and a half or something, before you actually got your top. Well, I'm looking at this and I'm saying, wow, from the high that was made, the all-time high that was made right at 448.79 November of 2021, here we are in January of 2024, this unbalanced volume has been extremely disappointing and I have to tell you, I've got a surprise, I mean because of the QQQ, wow, this is interesting, the QQs also had a big dip, but then they went almost to the high, at that peak A, which is about 380-ish, 379, and now the unbalanced volume is fading a little bit, so that, whoa, I have to go back there, the Aisha's expanded tech software is telling me that you've had leadership in very select stocks, for instance in Adobe, which made an all-time high, back in 2021, I think it was either November or October, November or December, and that was around about 700, plummeted down to the two, oh my goodness, plummeted down to the two 60s, and now it's up to the 569 level. Cell mode in the dating, and I've got to, I can't do an alternate count, I've spent quite some time on this, I'm going to do something else on it, and I'm going to call this a ChapaWave unconventional flat-based restart, and it says Adobe should take out the doji low of the week of the 29th of September, $498,000, it's dev'ing right now in the 5th minor. Wow, that's the prediction, huh? Is that an okay? Yeah, that's okay. Right there. That is interesting. That was up to $165,000, this is visa-free, I'll be back. Currencies, commodities, and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kekstat's Tiger 4x report. Teddy Kekstat breaks down the 4x markets every Monday using his 30-plus years of experience as a trading veteran of futures, 4x stocks, and options. 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There's no catch 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 with hundreds of members exchanging ideas, interact with other Tigers and Tigresses 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. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Let me just finish this before I forget. Let me just put you this is Hellman's, Hellman's, Mayonnaise, and other things, I guess. Okay, all right. What is it known for? Let me just have a look at this here. Rick Sonar, I don't know, Omo Personal, Magnum Lux, Lifeboy, oh, Lifeboy, Knorr, all right, we got it. Oh, Ben and Jerry's, they took over Ben and Jerry's. Ho, ho, ho. But, I don't particularly like Ben and Jerry's. I don't particularly like Ben and Jerry's. Jerry's. And it's got apostrophe S. All right, so let's just go back for a moment to IGV. I just wanted to finish up. I'm not sure if I was as clear as I should be. IGV looks to me like it wants to fill the gap in the mid-380s, but it could come to rest in a little while between 380 and 378. That's where I would start to look at 379, I don't remember, it was a 14p removing average. That's where I'd be looking to say, is there a buy signal here? Am I looking at something that says it should go to a leg? See, is this really an alternate count at this particular point? I don't know if I even want to put the alternate count in in the week, let's do the dating first. I might have to, I certainly if it goes to under 382, yeah, 382, I'm going to have to consider that that could be a failure pattern, but we'll deal with that. So in the meantime it looks great, but it does say that over a period of months going into I'd have to put it into the spring maybe the April into June period, I think we're going to go to higher highs and then the resistance level will be one, let's just do it month by month. 423 going to, what am I now, what month am I? Can I actually see what month I am? Yeah, March would be for 2009 and we'll just go from there. So those are the resistance levels, but in the meantime consolidation unfolding and the consolidation is saying that the dating chart has just given back it's just taken away about a month's worth of trading on the left side in a very short period of time. So we need to watch that. All right, Ua, UL UL is you know Lever, PLC actually looked at this for ages and ages you know Lever. So it's basically been trading between like 42 and 62. But most of the chunk in the last two years has been between the 40, this base that's been made terrific base of 48 and a high that is a resistance high of 50, it's called a 56. So it's right here in the middle at 45.73. So what do I think of it? Just could I take a look at it? I'm going to take more than a look at it. I'm going to say three things pop out immediately. There's a trend line in the monthly chart that says very clearly that this line comes from the high it was in 2020 to the the previous size, yes the next one just by TAD and these lows that are made this says that there are trend lines that are formed that make it very clear that if at any point you know Lever this is what did I say it was Hellman's Ben and Jerry's dove to clean the place up Claw, nice soup, life boy that's a soap, lax man, okay a whole bunch of sunlight suns, alright here we go. So it's got a lot of stuff that the market says okay we use it but Hoham, Hoham is not a good technical indicator, Hoham says nothing to see here. So monthly chart is very clear it says a close below 43 yeah 46 16 is the low of October not just the low, I wanted to really take that out, below 44 below 40 I'd even say 45 there's just nothing to see here and I'm not even sure it's short I just think it's stuck in a range and this rectangle right here in the weekly chart says yep stuck in a range you don't have to go to the bottom you can just go to the top and says if at any point on a weekly basis there is a close above it's at 48.72 any day let's not even talk weekly if in the next week there is a pop to the 49.30 level that changes the trend on the short term from sideways cup formation that's actually a little bit more than a cup formation but I'll call it for that for now cup formation and then we can start tackling you see this gap right here well that's already been taken out we went above it twice so that's kind of negated that means at this high and there's another gap above it this high 49.31 would be my my left side target let's just draw that in here I like to go up I always say go to the grand canyon cliff this is the low this is the high I'm looking at I'm going all the way to that high right there and I'm going to say I can't take that as a low obviously so where would the next low be I try to find the most obvious tiniest candle the most indecisive candle it says hey maybe you could use this candle right here either that or this low but I'm going to use the low of the 17th of November of 2023 the higher 47.52 I'm going to click on it like this I'm going to say alright let's see that takes me and that takes me sideways to this level right here and that just says bye the 10th of January that's next week what is the 10th of January it is Wednesday about let's call it a week from today there should be an attempt to get what did I just do oh 49 so 48.93 93 is the level we're looking at and this one went to 48.94 okay good that's what I want to be looking at so this is what I'm looking at if there is a close above 48.94 a close that is you can't just make a new high it needs to close above it then immediately I can start to look at this high of the 5th of October which is 49 not much higher 49.31 but what's important about this is look you freed up all the resistance on the left side and then you've got this ugly red candle right here from the 29th it goes all the way to 49.86 and then once you get into the 49.86 area finally the 200 period moving average repellent from uh August, September, October of August, September of last year becomes a magnet line it's now down instead of up in the 50 area it's at 49.51 and that's what I do sideways movement yes it's building look at this on balance a little bit overboard actually quite a bit overboard but the stochastics at 84% that's good the MACD is strong that's good 90's over the 14 that's good the 3x3 is rising I don't know if I'm going to keep the 3x3 there I just find it irritating but in the meantime it's there and that's kind of supported in the very short term at 48.42 alright I hope that helped you so yes I'm saying that if you are long I would stay long let it prove itself if you're not long but you're thinking that you want to I'm not sure about shorting I don't see that much on the shore side something really abhorrent happens with the commodities so far they've been going down they're trying to form some kind of a base so let me just do it this way higher highs and higher lows is the modus operandi for the past couple of weeks that should come I hope that helped 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 are you ready to take your trading to the next level? 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program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ DC which is Bitcoin Investment Trust made a new recovery high yesterday that is spectacular move actually in the 3673 area it went a little higher three days ago pull back yesterday and now it's having a little bit of a bounce this is taken into a leg E in the weekly chart could even turn into restart but at this point I'm just calling it an E leg C in the monthly chart and this is the start of January so this is very important it's begun in your leg up continuation of the leg C so this says to me that Bitcoin which I said about three four months ago was in was holding using the 200 period moving average in the weekly chart as a springboard for some reason I never go we've had this before with spectacular gains from the 12s to the 58s but never been in for a long long time so here's the question ETH HE Ethereum ETF one of the crowd I've got it as a peak F at 20.92 I don't know if it was exactly 98 20.98 on the 28th of December and it's been making lower lows and lower highs since then a nice move up today up 97 cents in 19.85 hey it constantly needs a 5% gain but here's the thing a doji candle slash C in the weekly chart all the technicals are very strong what I am looking at is the action itself is intimating to me that there is a kind of an arch formation forming like this like this that should see and it really depends on a closing basis whether or not there's going to be an arch formation right there whether there's going to be a new recovery high into the 21s actually the higher it goes in this particular leg right now that makes it even stronger if it does that instead of the rectangle which normally I would draw in I'd go to the weekly chart so you can go a little higher but basically I'm looking at a rectangle formation like that we'll see if that works out but in the meantime the 9-period reading average is really strong the magnees bead week, the castings week at 54% the unbalanced ones the relative strength is weak but that 9 you remember the indicator of last resort that's just suggesting that there's enough internal strength to keep maintaining the upward bias so you mentioned that you're holding long I'm going to say I don't want to mess with your position because I'm not in it and you've got in it and it's done extremely well at $19.89 up a dollar right now so what I am going to suggest is two things number one is that weekly chart suggests holding the position is the correct maintaining it is the correct stance leg D in the monthly chart holding it is the correct stance the short term says only if it starts to trade it goes to the high of the 1st of December which is 1726 that's over a dollar and a half lower if it does that at any point in the next two weeks I would say you know what just be a little careful that's number one, so I said there were two things number one is I don't want to mess with your your stance but you did ask me my opinion and from the way it's looking at the BTC which is the Bitcoin futures you see that's gone to peak E then within that there's a rectangle and the rule of thumb is that it can go to higher highs and higher lows to a D just under or just above or right on the previous high and then you've got to be careful if it takes that halfway of the rectangle formation well that rectangle formation is right there and it has but it's balanced today up to 1,545 so all I'm going to say to you is based on this action based on the doger candle that's a long-legged doger candle that's appearing in the weekly chart all the technicals are positive and I drew in a little while back I drew in this rectangle look how it stayed in the rectangle so I think that's important it's kind of the benchmark trading at 44,515 I like this very much but I do think that it's in a digestive phase kind of like the market little digestive phase so let's go back to ETHE so what would my recommendation be my recommendation would be is on a very tiny position just have a trading stop maybe a 45 cent stop it's a 1992 I don't even know what you'd have for a trading stop make it as close as possible because if you're taking a little bit off as money management then you don't want to give back you don't want to say well it's 1995 right now I'm going to put my stop in 1925 that's 75 cents I'd rather use that as risk reward having a trading stop and then it might take me out at 1991 where we are right now having gone to the 20-something because if it goes into the 21 area this is Ethereum that's going to be positive then I've got an alternate count and ABCDEF I call it a G and I'll probably call it a G maybe even a G stash D but it's still that's good right so just a trading stop that's all I have on a tiny position as money management that's all okay next question came in yes I was asked about Bank of America so we are a long bank of America took a tad off yesterday but so far we are long and to me this is a kind of a benchmark the reason why I didn't want to go just wholeheartedly short everything and I want you to be very specific one of the reasons is within the context of the rotational correction that I've been talking about all I can say is that I don't I don't really see a reason right now to do anything um oh ESVXM has UL long as a starter position but on the London stock exchange oh we've got people from all around the world yes so everything I said I'm not sure that you've got the same price but all the technical stuff that I was talking about that applies it's exactly I don't even know that I'd say to you if there's going to be a starter position that's what you should do but treat it as a starter right now and I'll add to it on strength because this is in an area that if there's a rotation this whole area of stuff that's on the shelf on the grocery shelf if they've lasted this long where the commodities were soaring and now have come down they should start to benefit with prices very slow to come down, anybody going to the supermarket knows that and most importantly what we're looking at is prices are going to, their profits should be helped so in Bank of America I've got an alternate count here this was an instant restart we went to PE remember E slash A, F slash B, G slash C but wait a minute look so often lately excuse me, dry throat this could be P, G and you high signal very tiny P, A P, B P, C and today uses strength to P, P and says oh be careful it could pull back a little bit so soon I'll be back when I get my voice back TFNN has just launched their new trading room, 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 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 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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 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 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 TFNN.com and hit watch Tiger TV so very quick to be to see to deep in any pattern any chart with very limited upside and yet it still goes very quickly to a decent just be careful you could pull back doesn't say major sell signal just says be a little careful you could come back a little bit immediately after the D's made GDX is trading down actually now it's up 10 cents at 2986 but it gap down I just see this 200-period moving average of 2980 run by 2980 it's like a magnet and I just think it's kind of stuck there and as long as the dollar is showing some strength I and it's a little week today it's down 15 ticks but overall it's starting to improve a little bit it just says it gives the market an opportunity to pull back so the other thing is if the market all the selling finds buyers if after 3 o'clock is off due the dollar is actually holding well the S&P is up about maybe 15 you could see buying into the clothes but don't see a big sell off after 3 o'clock because that will accelerate to the downside I'm looking at it was