 The following is a presentation of TFNN, the power trading hour with your host David White. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, David White. And welcome all to another excellent edition of the power trading hour with me. And it doesn't matter where me is as long as you and me are together at the appointed time. The following takes place between 2 p.m. and 3 p.m. So what do we have here? I guess I can turn that up a little bit, can I? So we've got a market, I think, that we can look at as a semi blow off top come Friday. And now we're going to be going into the valley of the shadows of death. As we have a week in which I suspect most of the dice throws will end up being snake eyes. Of course, we've got earnings starting tomorrow, more earnings and the Fed on Wednesday, more econ news with housing on Thursday, and more broad economic news on Friday, all of which I suspect at least at the moment has some rather rosy outcomes priced in, although they're lower than they had been, they're much higher than I think they will come in. So I'm fairly bearish through this week. I suspect we're going to see probably a little bit of a sell off into the Fed. And probably if you're lucky, the stocks go sideways on earnings. If you're not so lucky, then you have a snag it kind of thing. You and me. Yeah, I like the Dave Matthews band. Is that one of the ones in seven, eight time? Yeah, can't remember right now. Anyway, you can reach me at eight, seven, seven, nine, two, seven, six, six, four, eight. You can always put a message in the den for me. And what else do we have here? That's kind of the beginning of it. What's good? We just have a little ditty for history. So why don't we do that and then we'll get into it's all just a little bit of history repeating a little bit of history. And that is on this day in 2008. Oh, well, I plugged this one in the wrong one. And this is supposed to be about XM satellite and serious. I must have done something wrong here. And anyway, we'll forget about that at the moment and just point the camera at me. But anyway, Sirius and XM satellites this day in 2008 agreed to a merger and that actually happened within that year. A lot of people were thinking, well, that's kind of too much power in one position. But it just the internet was making its move on and Sirius XM kind of just hangs on like a loose tooth today. On on that not much reason to probably watch it or listen to it a lot easier. And I guess if you're in the car makes a lot of sense or maybe on a boat, I know that they make some money with weather for aviation. Maybe they make the same thing for marine stuff. I just not familiar with it. But well, that's about it. 14 years later. 877-927-6648 email me at path at tfnn.com had a question that I said that I would answer on a couple things. We talked about earnings continuing this week. The other question was a question from one of my subscribers about a article in my tech insider this morning. And he was asking about other quantum algorithms that are going to make other big things. I was just talking about quantum computing. And I think I've got it. There it is. There's another algorithm that I was talking about the ones that break crypto cryptography. But there's another big algorithm for quantum computers that's going to be an absolutely huge market. And the idea is that if you're doing searches, it's very nice if there are everything's in order. And it kind of reminded me of the old Bibles that had the little thumb things. I'm showing it on the screen now. They had the little thumb indexes so you could instantly go to places in it. Sometimes you'd find these in dictionaries. But the idea is what if you have something that isn't indexed like that and you're searching via computer for it. You have to literally search through everything. And of course probably half the time you're going to find it in the first half and the second half. And that's just called a big sequential scan of data. And databases are set up for that. But on average you're going to have to at least scan half of it. With quantum computing there is an algorithm called Grover's algorithm. And this is going to be a huge part of going forward all the cloud systems. And instead of doing half of it, let's say you have 10 billion records, you're going to have to on average search 5 billion of them to find what you want if you don't have it. You don't know where it's at already. You haven't already pre-indexed the data. This would be a square root of that. So whatever the square root of is of, let's say you had 144 records. You'd only have to search through 12 of them. So why these things are not instantly going to make a huge change. Just to let you know, besides some of the other algorithms out there that are really being pushed, and we're talking about, within a couple of years, seeing this stuff make it to market. At least that's what I was writing about this morning, one company. Just know that there's going to be a huge, huge business in quantum computing going forward. Okay, those are some good things. I wanted to get into, I got about a minute left here. I wanted to get into some charts that I was looking at. As I said, I'm fairly bearish out here. So I'm looking at many stocks that are setting up a potential double repo pattern. I think that we could at least go back and retest 3750 on the S&P cash. If we break that probably down to 3,600, and what I'm looking at right now are a lot of these stocks that went straight up off the lows. And generally instead of some of the other indicators that people talk about, I love the Joe DiNapoli version of it, which is how many days above a three by three displacement moving average do you have. And we've got kind of the nice setup out here. In a bull market, you'll see those go from 10 to 15 days. On just an average bull market, on a hyper bull market, you may get 20 days straight up. And then you generally have the correction. We're going to go through some of these charts that have just gone straight up and look at them pull back. As we speak, S&P off five, NASDAQ off 75, Dow's up 16, crude oil up a buck, 70. Foaming inflation, we are purchasing powers eroded. There's no better place to protect your harder and money than in gold. Vista Gold's flagship asset is the Monk Todd Gold Project in Northern Territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world-class gold project in a tier one mining district. 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These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights today, and try all of our products and newsletters 30 days risk-free with our money-back guarantee at TFNN.com, TFNN Educating Investors. 8-7-3-7-6-1-8 Welcome back, folks. Anyway, we're talking about the double repo pattern and the setups out here. They haven't confirmed yet, but I did want to start looking at some of these, especially it's great when we can do this both on the air so we can watch these setups start to develop. Analog Devices is one of the ones that I was looking at. It's really closed above the 3x3 since it gapped higher back on the 7th of July. So what is that? 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12. And you're looking for in a bear market probably 10 to 15 in a bull market something like 15 to 20 for these to top out. And of course, then use a 3x3 displaced moving average, which is nothing more than 3 days average pushed out 3 days into the future. And that's why we have a trend line actually if you're watching the charts out here that goes out sideways. So generally what you're looking for is one dip below a couple of days above. And then the next move back below starts generally either a total failure or probably something like a 50% retracement. Stocks that kind of go back and forth on the way up with a little bit of give and take have a little bit more to say. So we've got a lot of those kind of stocks out here. Even Apple has been able to do it since the 5th. So that's 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15. And of course, they have earnings coming up. Generally, you don't get the double repo pattern, say just dip back below. I'm not expecting a great deal from Apple. And after earnings probably at least looking at options, most of the option market makers are looking at 145 to 147.50 in my opinion. So we're going to look at that. Let's see what else we have out here on my list. I thought there was someone. BBY Best Buy has kind of come off the bottom. It's going to close underneath a 3x3 today. That's 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12. You're going to get closed below. And generally what you want is a couple of days down, maybe back down to 72.50. Then a move back above it for a day on no volume. And then maybe two days and then the next move down. On this one, just looking at the market around here for Best Buy, it's pretty quiet in the stores. Some of the stuff's missing. Some of it's just heavily discounted online. So people aren't going back in there. But I think that there's a good opportunity for this to go back and retest that 64.29 before we get into the fall season for Christmas. Which it'll probably, it'll do okay, I would imagine. But a lot of that has to do on the supply chain. Most people don't know that bowling alley companies were the biggest thing in 1950. I want to say 58, 59, 61. It's the late 50s. These things make Bitcoin go into $60,000, look cheap. Everybody believed that everybody was going to go bowling every single night and be in leagues and everything else. And there were two or three big bowling alley companies back in the day. And of course, the bowling alleys were popping up left and right. These things were kind of the chip companies of the late 50s. Anyway, probably not the same Brunswick that you know from those days. But a very nice move on this one. It closed back higher on the fifth. So you have one, two, three, four, five, six, seven, eight, nine, 10, 11, 12, 13, 14 out here and a little bit of downside. And again, what you want these things to do is kind of come back in pop back up and then generally as they cross back down below the line, you're going to see real acceleration. And on this one, support probably comes in around 71 bucks. Let's take a look at Beam Therapeutics, I think is the name of this company. Now this one's already starting to kind of set up. This one goes back to also the fifth of February, excuse me, fifth of June, one, two, three, four, five, six, seven, eight, nine, 10, 11, 12, 13, 14. You're going to get a close down here. So you can get a couple of days, maybe a little bit of a pop over the next couple of days. Now if they just start failing here, normally you just get like a 382 retracement off the top. And if we put that up real quick, that'd be 5417. Is that right? Yeah, 5417. So when we're looking at this kind of move off the lows and this ABC all the way to the highs, the question is, do these set up? And like I said, you could just keep this price for a couple of days, two, three days, close once above it or twice above it, and then the next move down below is generally they pull back to at least a 50% retracement. On this one, you could get back down to 4142. Okay. And again, you want that, this is not a prediction. It is a set up and you need the confirmation with that close below that line. But you need a pushback above it that fails and then comes back in. But I think we've got so many of these stocks setting up that way that looks likely. Kind of in the same vein out here, we've had what looks like a dead cat bounce and beacon roofing with a three quarter percent interest rate hike on Wednesday. My guess is that this is probably had its day in the sun. I would look for a retrace back to 5471. That's the June 22nd low on that one. BJ Pulse Ale Club. They're actually starting to finally make a push around here. Really didn't. We've got Costco and Sam's Club around here. I just go to Sam's Club because it's on this side of the highway and saves me 10 or 12 minutes each time I go there, where Costco would make me go around Highway 19. Anyway, this one, you want to see just that it's barely making it over. That's not a lot of energy on the way up. It's not really parabolic. So I'm looking at ones like we've looked before where you really truly had a lot of movement in these. Here's another builder out here that may be ripe for the picking. This has really been up since the 24th of June, Builder's First Source, BLDR, and has been above that three by three. You're now just closing probably today below that line. You want to probably pull back and fill this little gap under here. So maybe you go down a 6350 or something like that. You want to pop back up probably in the 65 range, see no volume, and then a move down. Now on this one, it may just be a three-quarter percent interest rate hike drives that one into the ground. We'll be back in a minute. If you want to take advantage of this sector, now is the time to subscribe to my Gold Report. 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Get your copy of The Art of Timing the Trade Charts 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. We're going to continue looking through a lot of these stocks that have kind of had at least semi-ballistic moves higher and watch these over the next couple of days, because if you do want to be short, as I said a long time ago, as we started to get into a really tough year, I said that the most important chart that we were looking at there was that boom and bust one. Do I still have that up? Yeah, I do. Hang on. Let me bring it back up if you're new to it. I said this was right after Christmas. I said this was the most important chart that we had. And this is the, what's the guy's name? Transportation Jean-Luc Picard. No, it's Jean-Luc, somebody. I'll remember it in a minute. But he had this kind of model for looking at it. Why we may have had some kind of startup capitulation. I don't think we've had anything that really sets a level of capitulation that I've felt or seen in the past. So I'm still looking for one more push down that either breaks it or says that we do find some kind of low in the market. As I said, a lot of times you look at charts long enough and you start, no, you're looking for something. I would like the upside to be a little sharper than this in Beezer Homes. But of course, this is probably a great dead cat bounce. Those housing numbers are probably going to be horrific on Thursday. So just keep an eye on this. This one's been going above the three by three since the seven, since the first of July. So you've got to what? One, two, three, four, five, six, seven, eight, nine, ten, eleven, twelve, thirteen, fourteen, fifteen, sixteen, out here. Now you're just pulling back a little on light volume. And again, there's a reason why these things operate like this. But generally in a bear market, this is the short squeeze where everybody just got to bearish on something. Then they get to wildly to bullish on something and all the volume falls out and then you do the entire cycle again. I don't have any emails here. So I don't know if I'm not getting them or if someone hasn't emailed me, but you can email me at path at tfnn.com. Normally I get a lot more than this today. Anyway, Beezer Homes. See what else is on the list. The old cracker barrel. I haven't looked at this one for a while. This one's already closing under. Let's take a look at Costco since we already talked about these and we saw kind of a similar appearance in BJ's Wholesale Club. You know, you really had one day where you closed below it and it popped right back into it the next day. But Costco, oh, Costco is kind of looking the same way. So we want to probably look at that and Sam's Club. Of course, that's part of Walmart. So it's a little disguised out here. These Wholesale Clubs have done nothing but go pretty much straight up since June 17th and you really didn't get much of a pullback. We're seeing a couple of them start to setting up that way. It's pretty amazing. CPRX. This is kind of a lot more what I'm talking about. You've gone from six and a half bucks back on the 17th of June up to 10 bucks. So you got a good pretty much, what is that, an 80% move? 75% move? I guess that's from six bucks to 10 bucks. And you're hitting that. I'm not a big fan of shorting $10 stocks, but watch for that one to set up if you're trying to learn to trade these Joe DeNapoli double repo patterns that I've been using for 15, 16, 17 years now. We have one that's a little bit more long than the tooth here, and that's Carter's CRI. You've gone the first day below it today. What you want is another close above it, maybe a couple of days and then the next close below it. Generally, where you start having the full retracement. Same kind of thing here in the Carlisle company. CSL on this one. You closed above it on the fifth. In fact, most of these are somewhere around the first to the seventh and have just gone straight up with the market. But you like to see if you're really hoping for more long-term moves, you generally don't want everybody getting long at one time. You want a lot of back and forth and indecision and it does the coin flip 60% to heads and you go higher, yeah. But when it flips every day or most every day higher, generally those burn out fairly quickly. Wanted to get to this one, which is Decker's Outdoor. It's not a very good pattern, but I thought it was very interesting for $300 stock. Let's see what's go out here. Dick's Sporting Goods. Same kind of thing. Kind of long in the tooth I think for this one too. They really got pushed up during the pandemic. This one's been above again, popped back above on the fifth of the three by three displaced moving average. You've got nothing but net so far. So one, two, three, four, five, six, seven, eight, nine, 10, 11, 12, 13, 14. So some of these are probably going to just start pulling back. Some of these are going to try one more push to the top. A close below, maybe a couple of days below it. A little push above and then the next one, generally where you have the big destruction. Okay. Ron says, let's take a look at Metamucil, the company formally known as Fascist Book. Not really. You only had a couple of days above it. This is kind of the dead cat bounce. Of course, they've got earnings coming up too. I suspect that because of some new laws that I think we've actually talked on in the show, that most of these companies are going to have a really bad hair day on earnings. Between Meta and Google, the new restrictions are probably going to get some comments and nobody's going to like them during the conference calls. If they do not give those announcements or warnings for the, well, there's really two different bills that passed the EU. They were under the same banner though, but these are going to be, they're going to cut probably 20% earnings. I'm going to say 20, 25% earnings in Europe. So if these guys even halfway tell the truth, maybe it's baked in already. I don't think so. I think it's going to be a lot like we knew before, which was when Apple pulled the rug from underneath Fascist Book for their policies of getting data that they shouldn't off of iPhones. It was very tough to find out just how hard that actually hurt Facebook slash Meta Musil. But it certainly is kind of the same thing. And I think everybody's kind of wildly underestimating just how bad this latest bill is going to hit the bottom line of some of these. Man, we got a bunch of them now. Okay, we'll be back in a minute. This offer is good only for the month of July. 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This program is brought to you by Vista Gold, traded on the NYSC American and TSX under the symbol VGZ. And had a question about Ryan and to recent IPO. So, see, NASDAQ, IPO lockup, period date and it's old. Normally you have them listed. Let's take a look here R-Y-A-N. Okay, Ryan is a recent IPO but its lockup was over in the first of January. So, I don't see much going on here in this. Let's take a look at its profile real quick. Service provider, especially products and solutions for insurance brokers, agents and carriers that offers distribution, underwriting, product development, administration and risk management services, founded in 2010 in Chicago. Okay, I don't see a whole lot in here. You got about the same volume on the way up and way down. Same energy on the way up on the way down. Sometimes it's just better to play tic-tac-toe. I don't see a lot in this one one way or the other. It just looks like a big trading range. Another one out here was restoration hardware and just a dead cat bounce in this one so far. Don't see much. One of our friends in the den, Mr. Z, for a long time, has thought that this was very much like Bed Bath and Below where they were able to make the books look fairly good with coupons and discounts and eventually led to the demise of the store. And he thinks the same thing on this one. Just depends on how long the bull market, where no one's really looking too hard, comes. But this one's already fallen fairly easily or greatly. But let's go back and look at it a little bit higher. But this one always kind of looked a lot like a stock operator was doing something. But it was up at 744. And it's kind of come back. My guess is he's probably right on restoration hardware. This thing is just going to be very much like the rest. Okay. Let's see. Okay. What else do we have? Okay. Oh, we got a couple more emails here. Let's go check those out. Anyway, I'm saying my sign off, same batch channel, same batch time in the opposite should be same batch time, same batch channel. I'm saying it backwards. Okay, Lou. The Nugman says hi. And Amat for Todd. Well, one, two, three, four, five, six, seven. He got seven. You'd really need to have this thing kind of really take off. Now, I don't see it. There was a, as I said, I'm pretty sure that, you know, you had a huge move down. I'm thinking this would pull back on just a normal pullback to somewhere on the gap at about 94-ish, 95-ish. Again, I'm fairly bearish. So that covers most of my calls out here. On dust. Now, this is one that when you do get a retracement on it, probably going to be a pretty good indication that gold is bottomed. And of course, we haven't gotten anything like that yet. These miners continue to be it. But this has been really on the upswing since the 8th of June. And, you know, it's very tough to think that gold is going to pull back that far. What are we off 10 bucks still today? That's it to the gold. Yeah, 10.50 is what I show. And it's just kind of laying around like a dead fish on the dock. I don't know what to say other than when this does turn around, my guess is that dust will probably have a fairly decent retracement to about 20 bucks. So we'll keep an eye on it, but I don't see anything out here yet today. Let's go back through my list of stuff. Okay, that's not the one I thought it was. Okay, Home Depot. This has been going above the three by three since the first of July. 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16. Okay, so maybe this gets a little bit of a pullback on higher interest rates, and then maybe one more push higher, and then a failure, and then it comes back to 2.90. This haul may set up a few days. Okay, and oh, where's my list? Okay. Okay, question. Look at the TLT. We'll do that right now. Yeah, you made the high, or tested the high on Friday. One of the reasons why I suspect we are headed lower. June 5th, 1775 with 22 million shares, got into it with 18 million shares for one day, gave it up your back into the trading range now. And my guess is you're probably going to trade around between this area and back to 112, depending on whether or not it's a three quarters of a percent or 1% will depend on how fast it probably retest 1205. Let's take a look at Jack in the Box. And that's just a dead cat bounce. JB Hunt, we talked about that one and what they were saying on earnings. Just really kind of went sideways on this. Again, my guess is we're setting up these moves for a bigger move lower. And we probably are not going to go retest our highs in this scenario. We're just going to be able to pull back a little bit, go back up maybe halfway, and then fail. And that's where the real big destruction is going to happen. Jack Henry's, everybody buying their suits, I guess, going back to the office. This has really kind of been back higher since June 30th. He had two days that were right on the line. Neither one of them had volume back into it now. We'll see about that. What else is on my list here that I looked at that I thought was interesting? Well, we're going to the break now. I'll have a chance to look through these, still have a chance to email me at path at tfnn.com. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices, selective stocks and commodities. Subscribe to the opening call newsletter at tfnn.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. 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Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today, tfnn.com, educating investors. 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. As we're back, if someone said they had a little bit of a downgrade for metamucil, if I have anything down here, down to 3%. I'm not, you know, maybe they post some better numbers or something, but along at least medium term, I'm thinking that almost all these companies are going to have fairly huge expenses and they're probably going to start talking about it this week about the, I forgot what they called it now, but it's actually two bills together and one to control big tech. Of course, it can get away with it here because they pay a lot of money. Very tough to do the same thing to all the EU nations over there. Microsoft is going to get a little bit of that, probably not as bad as Google and Facebook slash metamucil, but certainly we got a lot of these stocks doing this too, which is lower highs, higher lows in this thing, but between this and Apple, I think at best, I think it'd be a victory if they go sideways. So don't think there's a lot of upside in any of these. Maybe when we get into the fall and earnings in there, things may have time to turn around a little bit. Maybe some of this stuff gets priced in, but I think we're going once more into the breach, dear friends, World War I reference there for you youngsters. Anyway, that's kind of it. Now, when we look at volume for today before we wrap up the show, although we try to push higher today, we're only doing right now about 6.3 billion shares, incredibly light for a Monday. We'll see you tomorrow. Same bat channel, same bat time, or same bat time, same bat channel. Building wealth trading in the stock market seems impossible to