 The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now Larry Pezzavento. Okay folks, we're going to take a look at a couple of markets here today. The Dow Jones, the Russell, the Nasdaq and the E-mini S&P because we're at a very critical level. I posted the chart here of the daily Dow Jones going back to a long time ago, many, many months ago. Let's try three. And you'll notice that the 78% level comes in at 33,930. And so far today, the high has been 33,927. So we know that when it pops above that, it's off to the races. But what we want to do now is take a look at a couple of the other indices because they certainly look a lot different. The first one we're going to look at here is the Russell. And we'll get this up here so you folks can take a quick look at it. And remember, this is the second most popular of all the stock indices that are traded based on open interest. So you can see we're at the 61% retracement right there, tad above it here in the Russell. And now the next one we're going to look at, of course, is the E-mini S&P. And this is the one that's really interesting, folks, because if you like numbers and we do like numbers here at TFNN, sometimes they treat as well, sometimes they don't. But if you'll notice that the high that we made last night came in exactly the ABCD pattern, as you can see, AB equals CD. It's also perfect in time. The AB leg is perfect to the CD leg in time. And it comes in at 41.97, and that was the high that it made. Let's try it again, 41.49. And then we came down and stopped exactly at the 382 at 41.29. And now it looks like we're getting ready to break out to the upside. It all depends on what happens to the Dow Jones and also the other. But the one that's lagging the market, of course, is the NASDAQ. And this is really surprising, folks, because you would think it was a leader on the way up. You'd think it would be a leader on the way back up, and it's not actually doing that. And as you can see here with the NASDAQ, that we went up to the 61% retracement one, two, three times last night. Then we sold off a lot, and all we've had so far are these little tiny 382 bounces that hasn't really done very much. So the NASDAQ is still lagging. But remember, if this catches up, and if this catches up, it's off to the races. And remember, the first Saturday in May is coming up here for the Kentucky Derby, so we'll be ready. My last winner was 1987, Ferdinand out of the... No, I had two others besides that. But I get a place horse, a show horse once in a while, but I only bet on the prices. The horses are really good prices. Then I go in and I'll take a little nipple at it, but nothing significant. Okay, now I wanted to cover a couple of things. We got this really neat chart here from Rich Anderson, and I will really get this up here and show you what's going on. I want to go over a few trades here today because part of this business, when you tell people what to do, you have periods of frustration, and I'm in one of those periods right now. Anyway, not for the losses is the fact that I have a big profit in something, and it goes right back down to where we bought it. But we'll go through that in a minute. As you can see here, on the environment of banking, we are in the same situation where we were in 2009, based on these figures that Rich sent us. Now, just looking at the bank stocks, they're telling you that something is still not right. They haven't had much of a rally at all. By the way, folks, there is a line open, if you want to call in 877-927-6648. The first one we're going to look at is the KRE, which is the one that Jim Bartolioni gave us a few months ago back on February the 6th, when it was making this big 382 retracement here, and we had a huge drop down, and it's trying to rally, but look at these little four-day rallies, folks. Are you kidding me? We got the Dow Jones at the 78% level, the S&P at the 61% retracement. This thing can't even move. Things are not right in Camelot. That's all I can tell you. There's something wrong with those banking stocks. I mean, they're just, JP Morgan's acting pretty good today, but for heaven's sakes, that's a really, really nasty one to look at that. It might explode to the upside, but boy, it's going to have to prove to me that it's going to do that because it certainly looks like it doesn't have anybody that wants to buy it. Now, let's get back into Frustration City. Now, here is a picture of the gold. Hold on, second, folks. Something is beeping loud and clear, and it is, hold on one second. I've got to, I have to make a slight correction here because my limit, I keep limit-minders on during this year because I do have positions on, and I want to be able to see when they start to work, and we just had one working, and I want to get it up here to talk to you about what we're doing here. Okay, now by the way, oh, you're kidding me. Well, the Dow Jones just made a new high, folks, at 33,934, and the number was 33,928 before, and it made it at 33,934. The actual number, and I did it mathematically, was 33,930. So let's move on here to the next one that we want to be looking at to show you what I'm going through. Here is the gold chart. I want to give you an example of, these are things that, you know, right out of the book, right out of the trade, what you see newsletter, this is nothing new, this is technical analysis. There's your nominal cycle right here. You know, you're looking at a chart that is, you know, 60 minutes, so you see in several days in between these things. But right here yesterday, we were right at a 61% retracement of this low, and we were at a 50% retracement of this low. That makes this a 135 pattern. Lines up absolutely perfectly, and we bought it there. It's now trading. Last time I checked was at 2021, I believe, and we've moved our stop down to 2009. That will lock in a $400 profit. You know, right now it had a $1,400 profit, but we're looking for something bigger because this has the potential to be a very, very powerful cycle. But remember, this one also had potential as did this one. So the frustration is, which one is it going to be? The question is, if you can get in at the D point and get it moving your favor, then you got a chance. The problem is some people buy at D, and if it goes lower, they buy more at D. Those people are called future people working at McDonald's because that's not going to work. I've tried that, adding to losing positions, and it just flat out doesn't work. No way, no how. So anyway, this is how we're handling it. I'm going to be showing you several of them because this is what I do. When I do the videos for 24-7 is try to get in the best we can, and then when we have a profit. Now some people trade multiple contracts. So today, at one time, we were up about $1,700. We're still up $1,400. So at $1,500, that person said, hey, I'm taking some of it off the table because that's a pretty good move for one day. And in fact, it is. But not everyone has that luxury. So I have to work with both sides of the fence, as they say in The Old Pasture. Let's take a break. 877-927-6648, Billy Ray Valentine, Capricorn. 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 Kegstad's Tiger Forex report. Teddy Kegstad breaks down the Forex markets every Monday using his 30-plus years of experience as a trading veteran of futures, forex, stocks, and options. Teddy releases his weekly Tiger Forex report every Monday morning with coverage of all the major currency pairs, including the Dollar Index, the Euro Dollar, Pound Dollar, Dollar Swiss, Dollar Yen, as well as many more. And he also has weekly coverage of the crude oil market and the 30-year T-bonds, as they both influence forex markets tremendously. When you sign up for the Tiger Forex report, you also gain instant access to Teddy's 60-minute Webinar Archive. He just hosted Forex Strategies and Fundamentals What is Behind the Tiger Forex report. For all the details and to start your 30-day Tiger Forex report subscription today, visit the front page of TFNN.com. TFNN Educating Investors 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 To contribute to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights, is published every morning when the market's open to give you the competitive informational edge you need to succeed. 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 At 1-877-927-6648 internationally at 727-873-7618 Okay, folks, I have the chart up of the hourly chart of the July soybeans. The chart over here on the left is when we were discussing these dynamite triangles or flags that John Heald introduced me to many years ago. A great entry technique, I used these during the run-up, during the great bull market of the Russian grain robbery back between 1971 to 1973. And then, of course, it topped and then it came down. They work on the downside just as well, but you have to learn how to use them. The next time I do a daily trading seminar, which will be sometime, I don't know. I get requests for it all the time, but the next time I do do one, I'm going to spend some time with that because in real strong trending markets, it's really, really good. So we wanted, oh my goodness, somebody got through on the line, shut the front door and raise the rent. We've got a winner and it's Michael from Niagara Falls. Michael, how are you, my friend? Hi, thanks for taking my call. I wonder, I noticed a buffettist in Tokyo and he's gobbling up all the Japanese brokerage stocks. And he obviously is a pioneer at a trendsetter. I just wondered if you could look at the Nikkei 225 and tell me whether that maybe it's got some upside or is it just hitting the 382 on the yearly or monthly? Could you look at the long term chart? Sure. I'm going to look at it. I can give you the last year, Michael. That's what I printed out here so that we can all take a look at it. And one thing I want you to remember about Mr. Warren Buffett that what he says and what he does is a lot different thing. Let me give you a story that I remember very vividly. Back in 1997, he came on CNBC and said that he owned 25% of the above ground in silver and silver rallied about $2 an ounce in three days, which was a huge amount, up to about $11. And yet when the report came out for Berkshire Hathaway in the following quarter, guess how much silver he had? Zero. And he uses those times to sell. Trust me, he and Charlie Munger are masters at it. They've been doing it for 60 years. So what they say and what they do is not always the same. Is it illegal to do that? Oh, sure. He has an opinion. No, sure. If he owns that, he can do it for the next 10 minutes. He says, oh, well, I've had enough. I'm going to sell it. Yeah, that certainly has a right to free speech. Absolutely. Other people do it too. You know, I... Isn't that called baiting? You're baiting the viewer into buying silver? No, that's called... Didn't you become the bag holder? That's called welcome to trading, Michael. That's what it's called. Welcome to trading. Trade what you see, not what you hear. That's what you've got to see. If they're in there buying, they're going to go up. If they're in there selling, not so much. So pay attention to that. This market's gone nowhere for a year, Michael. You know, the other... That's actually a good sign because the others have fallen down quite a bit. So don't pay attention to what Warren Buffett's doing because he doesn't care about Michael. I can promise you that. I think you're right. Speaking of the figure, the data figures are tomorrow. You got a funny feeling given the tape action today, there's been a leakage, data leakage like somebody knows. That's beyond my pay grade, Michael. I don't think that way. I just look at the charts and try to figure out where the buy and sell should be. That's really all I'm doing. I can't do anything past that. You don't see the tape action. It's just how buoyant the Dow Jones is. You mentioned it and then the spiders and the inverted head and shoulders on the IWM. It's kind of getting suspicious here. Well, we'll have to see if the suspicion is warranted, but right now it doesn't play into my game plan at all because I have to look at what I'm seeing is happening right now and I'm not seeing what you're seeing. I'm just seeing a normal market that's going back and forth. If somebody had a really strong tip, the S&P would probably be up about 50 handles right now. And it might be by the end of the day, but right now I don't see that happening. OK. Besides Nikke, could you also give me the FXI and the Hangsang? Yes, I certainly can. My friend, if you'll bear with me here one second, I can certainly do that. I'm going to give you the first one we'll do here is the FXI. And that's the Chinese market. I chart it because we have so many friends and students over there in China and we also have Hong Kong. You see, this is in an uptrend. It's still making higher bottoms in the short term, so this is still positive. And the longer term, of course, it's lower, but this has been going up now for well over six months. So it's still going higher. Nothing wrong with that one from the long side. And the next one we want to take a look at is the Hangsang. And this one was an absolute spectacular bottom for our usual ABCD pattern. Just about in January, I believe you can see we made that beautiful pattern right down in here. And look at this big rally we've had here. So we've had a tremendous rally. And this is a rally in a bear market, you see, because this is a weekly chart and we got lower tops. So you want to be looking for a place to sell this, not buy it. So the Taiwan, do you think the Taiwan tension is causing it to be restricted in this upside move? Again, I'll refer to my favorite saying it's beyond my big rate. I don't listen to the news because I think it's all baloney, you know. Technical analysis may be baloney, but I can make a buck off that. The listening to the TV or what those people listen to. What do you think is happening here on the weekly? Well, I think it's making some type of a rally and I would be ready to short that rally if I can get a clear signal right now. I do not have that. You don't have it. I'd like to see it rally a little bit more. Then I'll have that signal. Okay. All right then. Take care. I know I'm a little vague on some of these answers, but I got to tell you the truth, partner. Okay. Okay. Thank you. Okay, Mike. Thanks for calling in. I appreciate it. Okay, folks. I think I had one other in that group that I wanted to show you. This is the near term of the Hong Kong index. I see a beautiful short term pattern that bottomed here on this daily. Just recently, we were able to have all our friends over in Hong Kong. We're very happy that beautiful bottom that we had down here. 1.618 expansion and it stopped right at 14,800 and had this monster rally. And then we pull back, you know, to the 50% level. So it's still looking good as long as we can hold these lows that we made last week. I think we'll be in pretty good shape for looking at what's happening with that. So that's pretty much it. I did want to show you, since Mike is still on the line or listening, I wanted to show you the shorter term picture of the FXI, because it shows the fact that we just made a 382 retracement here about seven or eight days ago and we backed off and we haven't bounced very much at all. So that's a market that is extremely various. As you can see on the left hand side over here, you have a perfect three drive to a top pattern. There's drive one, there's drive two, there's drive three. An absolute perfect A-B-C-D price and time coming together out of the mouth of a WDGAN. And then down we come with nothing but 382 retracements all the way down. So this one's still bearish. So we'll find out what it's going to be doing in a longer term frame. Right now it doesn't look very friendly to the Chinese market. Now that doesn't mean it can't go up. It just means that's what we're watching as we see some of these things unfolding. So I hope that helps everyone because it's not about how much money you make. It's about how much money you don't lose and you try to lose as little as possible. And when we get back from our break, which will be coming up here very shortly, what we're going to be doing is talking about July soybeans. If you want to take advantage of this sector now is the time to subscribe to my Gold Report. The Gold Report is a comprehensive look at the metals sector as well as the markets that move gold, which is the currency and bond markets. New subscribers get a 30-day money-back guarantee so you have nothing to lose. Every Monday morning I publish the Gold Report with coverage of gold, silver, bonds, the XAU, HUI, GDX, as well as more than 30 different mining equities. To sift yourself the types of profitable trades that are recommended within the Gold Report, sign up now by visiting TFNN.com. Don't miss out on the next great gold trade. Sign up today. Larry Pesavento on stocks you need to pay attention to and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos, and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com Educating Investors Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority in technical market analysis. And it's not just dry, tedious tech, either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern. For free, each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN Educating Investors. 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. Okay, folks, I posted the chart here of the July soybeans. Now, you'll notice that these little dynamite triangles, the first one was down here at $13.92. We were able to buy that. The low was $13.84. We were risking $0.10. We made $0.60 on that first one, folks. Now, what happens now is we've made a 382 retracement here of that low two days ago, and then we had a $1,000 rally up to this level here. We got through all of this. I mean, we had our stop right below here. We matched it again. And here we are coming down. We've given back. We're only up about $200 out of the $1,000 that we were up. So to give back $800 like this, now, is this going to hold or not? I don't know. All I know is that I put the stop at break even because if it gets here the third time, I'm afraid of three times it. Three times is not the game I want to play. Double bottoms, I can have triple bottoms. I'll wait and buy it the next day if I have the chance. But also there's a small report coming in tomorrow on grains. It's a world grain supply report. I don't know if it's going to make a whole lot of difference, but I don't want to get involved in it if it's going to break down really hard. Folks, in 1996, on August the 16th, the day that Elvis passed away, the date that he died, he died in 75, but Mark and Paul and Douglas moved here from their beautiful penthouse condo that they had in Chicago on Lake Shore Drive. And they bought a place here just about four blocks from me, Easy Walk. And for the next five years, what was it, five, six? No, six years. The next six years, Mark and I worked here in the office together every day. Once in a while we would miss a Saturday or Sunday, but we always did something. He had guests come in, some very famous guests, some not so famous, but some very famous ones. And they were his clients. And they used to live in Chicago, but they flew out here to see him. There were probably 15 or 20 of them over the years. And to listen to those, what these guys went through was really amazing. During that time that we were here, Wiley, who publishes my books, John Wiley, they wanted me to do a book on what it was like trading every day. And Peggy McKay, who was one of my students, was an attorney here in town, and she says, Larry, she says, I'll help you with that book if you do the trading. And so for every day, for 22 days, I traded the things that I'm going to trade just like I'm doing today, no different, exactly the same. And she sat behind me and made notes, never said a word. She just made the notes and I went ahead and did the trading. It's called Private Thoughts of a Trader's Diary. It's one of my favorite books because it's exactly what I do to this day. Nothing any different. But as we were going through the trading period, I had started out with about four or five days in a row where I won, then I had a couple of losing days, and then I had a streak. And my streak was, I think I was into the ninth day, just really good profits. And Mark came in and I showed him the five charts that I was looking at, and I said, look at this Mark. I said, man, I said, this is going to be, oh, I don't remember the exact words. I said, this is going to be easy pickings today or something like that. And I showed him each one of them. And he was standing behind me to this day. He's standing right behind me. And he put his hand on my right shoulder right here with his left hand. And he said, Baba, he said it ends today. And I came unglued. I turned around and said, what the blankety-blank? I never use those of you that know me know that I never use profane language ever at all. Well, maybe once in a while. Anyway, I said, why in the world that wasn't the word I used? I said, why would you say something like that? He said, hey, go ahead and trade them. Do exactly what you're supposed to do. At the end of the day, I was 0 for 5. Lost all five of them. And so at the end of the day, when it was all over, I didn't say anything until then. And Peggy was back there. She was taking dictation. And she was making all kinds of notes. And I said, why did you know? He said, Larry, it was the inflection in your voice. He said, you were overconfident. He said, never are you overconfident when you're trading because you're always expecting the market to go against you. That's why you can do it so easily because you know when you're wrong, you get out. And I said, at this time, he said, it was the inflection of your voice. Like, oh, I found the Holy Grail, like Archimedes said in the bathtub. Well, that's exactly what happened. Well, I finished up the book after about a month. And we ended up with, I think we were at 16 out of the 22 trading days. We made money. We had some losses, but it goes through and shows different trades and stuff that we did during that time. This is what I do every day, folks. I haven't changed anything in the past 30 years. My big change for me was two things. Once when I went to Chicago to see that these trades were, these guys were really legitimate. They weren't trying to steal from you or anything. This was actual trading. This was before these computers and stuff. The second thing was is when I met Bryce Gilmore in 1988, and he showed me how all these swings fit together. And, you know, that's what you're looking for. You're looking for him to come together where you've got four or five things saying, ah, this is it. And when that happened, then I said, ah, that, that I know that I'm able to do it. I think I've told this story before. It was very important. I was in Chicago giving a speech at the, I don't remember which was not the money show. It was one of the commodity shows. I think it might have been CompuTrack. Yeah, it could have been. Yeah, it was Mark was there. And one of my students from Switzerland came running up to me. He says, you got to come into the room and listen to this guy from Australia talk. He said, he really knows Fibonacci. So I'd heard of him. I heard of him. I'd never read his books or anything. And so I walked into the back of the room. There were about a hundred people there. And he saw me and he, he, we'd never met, but he had seen my picture. I think he went to a lot of post office around Chicago to see my picture. But he said, oh, he says Larry Pezzavento has come into the room. Why don't you come up here, sit in the front row and you'll learn something about Fibonacci. And everybody cracked up. And so I, you know, went up there and of course being is the jovial Australian that he was that we hit it off immediately. And anyway, I sat there for five minutes and after five minutes, my eyes lit up like a Christmas tree. I, that was my Eureka moment because when he had his program up called the Wave Trader, which basically is what I use with the ensign, which is the Pezzavento patterns. It shows all the swings and interrelationships of all the swings. And then when I knew when four or five of those come together, that that was your, your best time, you know, to do your training. And you can do those by hand. We see, we do these all the time when we're doing the day training thing. I do them every day during the videos. I don't explain it this way, but that's exactly what they are. There are multiple points coming together at the same time. And it tells you, yes, this is where you have to be at this moment in time. He's a longer short. That's, that's pretty much it. Now over the years, I must have had four or five of the most famous Elliott Wave people in the world. The guy from London, Terry Plummer. I had Glenn Neely, Bob Minor, one of Proctor's guys, two of Paul Tudor Jones guys. And of course, Bryce Gilmore. Bryce knew more than any of them. I'd be watching them do their analysis and they're calling these waves and threes and fives and stuff. And all I'm doing, folks, is look at the one thing that Curly's always told me, A-B equals CD. As old Mark would say, A-B equals CD. And during those six years that Mark lived here, he traded A-B CDs and bonds. That's all he did. He traded from six in the morning till nine in the morning. And then he was done and then he worked on his book. And that's what he did. And he did that until he passed away five years ago. On September the 27th, four days before his 67th birthday, I believe. Anyway, that was a very sad day in my life. He was my best friend. He was the best man at my wedding. And I spent more time with him than probably any human being ever other than the wives that I married. All seven of those. There's only been two. Hey, let's take a break. 877-927-6648. 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. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. 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. TFNN.com, Educating Investors Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights, is published every morning when the market's open to give you the competitive informational edge you need to succeed. 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 Biotech is booming, but for how long? Whether you think the Biotech bull has room to run or has run its course, trade LABU or LABD, directions daily S&P Biotech three times bull and bear ETFs. Visit DirectionInvestments.com slash Biotech today. An investor should consider the investment objectives, risks, charges and expenses of the direction shares carefully before investing. The prospectus and summary prospectus contain this and other information about direction shares. To obtain a prospectus or summary prospectus, please contact Direction Shares at 866-476-7523. 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, Four Side Fund Services, LLC. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Okay folks, I posted the chart of the Dow Jones Industrial Average E-mini and this is a chart from Sunday. You'll notice that last week we went up to the 61% retracement of the high way back on December the 12th. And today what we did is we made the 78% retracement of the high from February the 13th. That's what that number was at 33,930. Of course that didn't work because it went to 33,934. Anyway, that's why I'm bringing this up to show you. Someone just asked a question that they would have liked to seen Bryce Gilmore trade. Bryce did not like to trade. He liked to study the markets. He was a professional salesman. He sold very expensive exotic cars, but he was a real student of the market like no one I'd ever met before. And he had some wonderful things with his Wave Trader program that showed the different swings and how they fit together. But one of the most amazing calls that I ever got from him was, I think it was 1991. They were remodeling the house up on the hill at the trading house. And I was staying with Steve Shapiro and his mother down on the beach. They lived on the bottom of the hill right on Ocean Drive there at his Mo Beach. And Bryce was staying there also. It was a very large house for three people. Anyway, he said that this was a day he wanted to be selling bonds. And so he was Australian so he couldn't have a US account. So he said, can I trade out of your account? And I said, okay. And he said, I want to sell, I don't remember the exact price. But he said, I want to sell the bonds at $101.02, five of them. And I want to put a stop at $101.03. And I said, that's not a good order. And he said, why? I said, well, if they're going to hit $02 and $103, that's one person making a bid with no offers. And I said, you're going to get there. And he said, no. He said, $109.03. He said, if it hits $109.03, I'm taking all these fricking books and I'm going off to the pier at his Mo Beach and I'm going to throw them in the water, take my first flight I can get down to LAX and I'm going back to Australia and sell cars. And I said, come on. And he said, I'm telling you, if it sees $109.03, I'm out of here. The number was $03. I keep asking Steve, he couldn't remember either. But it was one tick. Anyway, they get up to $02.02. It hit $02 probably a dozen times over the next hour or so. And he's getting ready to play golf. And he's downstairs. He yells up at the veranda. He said, how are the bonds doing? And I said, well, I said they backed off. They got filled at $02.00. We did not hit $03.00. It's now down about 10 ticks, which was $300.00. And he had five contracts on. And he said, $1500. He said, how about booking it? And I said, are you sure? And he said, let's book it. And I said, OK. So I took off the five contracts. And he went on to play golf. Well, that night, we all went to dinner every night. We all met at either someone's house or there were always five or six of us involved. And so we go to dinner. There were about eight or nine of us at the time. People from New York were here. And we were at our favorite Texas cowboy play. Well, there's a California cowboy place, Jocos. And he never mentioned anything about the Bonds or anything, but Bonds closed two and a half points lower folks, $2,500. And the next morning, when he got up around nine or 10 o'clock, whatever it was, he looked at the price of Bonds. He says, why didn't you say something to me at dinner? I said, actually, Bryce, I didn't want to spoil dinner because we were having such a good time. And he said, yep. He said, you're probably right. He says, but well, he said I was right about the call. Wasn't it? Well, Bonds never took that high out for at least a month or two, as I recall. But I remember that very, very vividly. But so many things that I can just a wonderful time. He would spend at least two or three months with me every year from 1988 through 1994 when I moved here. I moved here in April of 1994. And then since that time, I've only seen him a few times. He's in very poor health right now. And of course, he likes the sauce, as they say in Australia, like most Australians do. So let's remind ourselves that to stay away from it. Remember the tad who just passed away at 108, the secret to his long life was he didn't smoke other than one cigar on a Saturday night. And then he also had wine occasionally. He went to church every Sunday, watched his diet and went for a small walk every day of his life. And that's pretty much the way to handle it, I guess. And always remember the other people, folks. There's other people out there that are hurting really bad. That's why I use the saying by Anthony Robbins, live every day in an attitude of gratitude and may God bless. And folks, I really believe that. Because when I wake up in the morning, here I am. I'm eight and a quarter furlongs into the race. I don't know when it's going to end. I think I'm going to make it into the ninth furlong, maybe a mile and a quarter. I don't know. And I mean, I still love doing it. My health is relatively good. I don't smoke a cigar. I take a little wine once in a while. I still go to church, but I do try to help folks that are in need. And that's something that I've always tried to do. It's not a lot, but compared to Bill Gates, it's a fortune. That's the way it looks. Anyway, we've got the markets here. Let's double check. I haven't seen what's happening recently. But, well, we're still trading at 3912 in the Dow Jones. We're probably going to take that out in a bit. And we got the S&P going up here making almost new highs. So that's probably going to make a new high. So that's going to be the end of that story. But we do that game one at a time. And that's all we can do. We've got the gold moving pretty nicely. Still trading up here at 2020. The soybeans, not sure they're going to make it or not. They're still got about four cents in them. But my gosh, it stops. Got to be at break even. There's nothing else we can do about it. The British pound has been working nicely for us. And of course, the bond trade is still, those of you that shorted the bonds the other day at 133, are still acting pretty nicely also. So that's what we're looking at here today. And that's pretty much what we're watching so far. We've got a break coming up here, but I had one other question someone wanted to answer to ask about is I posted this chart from Rich Anderson about a week ago when Rich was our guest. And it showed that the market was overbought. But again, you know, it can stay overbought for a very long time. You know, usually when it gets to this level, it starts to back off. Now we've hit some other, his application. Please sit tight. Uh-oh, hi, Siri. Oh, I don't know what's happening here, 1042. I guess my chart, I hope it posted. I don't know whether it did or not. Okay, there it is. This is showing the overbought oversold and we're in an overbought area. But you know, this can stay overbought for a long time. Much like it did up in here. These hit spot on, but sometimes it takes more than a couple of days to get there. So that's what we're watching here. We've got about three hours to go. One, two, three. One, two, three hours to go in the market. So that'll mean that we should be done by, whoa, two hours to go till one o'clock. Why should I keep forgetting about the time frame here? We only got two hours. But it looks like we're going to be breaking out to the upside. And then what we'll do is we'll have to see what happens tomorrow as we look at some of these things unfolding here today. So we're going to take a break here, a little early on the break. So listen, if you have any questions, folks, 877-927-6648, I'll be doing another show. Next, we're going to look at some stocks, some bank stocks, and some other stocks that are in the news. We want to look to see what patterns are happening there. But if you have any questions, 877-927-6648, and it really helps if you call in and ask a question, folks. Because then I can at least get an idea of what the heck you guys are interested in, okay? So we'll be right back. 877-927-6648, Billy Ray Valentine, Capricorn. If you're looking for potential trading setups in the stock market, then Rocket Equities & 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 & 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. 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. The Chapman Wave up-down sequence gives you an edge in identifying price turns. 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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. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com, then hit Watch Tiger TV. Okay, we're back, folks. I posted this chart of the E-mini S&P here. This is an hourly chart going back here the last several days. This is the same chart that Mr. Z posted in the tiger dent earlier today when it was up there at that high at 41, 49. We backed off to the 382 at 29. We've rallied up, almost made a new high, but not quite. The Dow Jones was the only one that made it. The Russell made the 618. The Nasdaq made the 618 three times. Didn't even make it the fourth time, at least so far. And then, of course, this is what the S&P is doing. So this is the key of what's probably going to be happening here because if we go popping through this next level, you'll see we could easily go all the way up to the 78% level, which is another 20 handles up in this area here. And then, of course, the Dow Jones is already at that level, at the 78% level. That's what it just hit. So it's the leader. Second place is the Nasdaq. Excuse me. Is it Dow E-mini? Third place is the Russell. And fourth place is the Nasdaq. And the way that they're retracing as we're watching these here today. And I believe the next holiday someone asked me yesterday, and I couldn't think of it offhand, but Memorial Day, I believe is our next holiday. We don't have anything for the rest of April. And here we are in June, and they don't count the first Saturday in May when the Kentucky Derby runs as a holiday. They should, but they don't. So we're doing that. Oh, also, by the way, remember, we posted this chart of the Australia index. And this one really has worked really well. I wanted to bring this up because our friend Alan Smith over in the UK was kind enough to send it to us. A perfect head and shoulder spoke, folks, exactly like Andrew Lowe depicted in his book with the mathematical formulas of the left shoulder must be lower than the right shoulder. The right shoulder lower than the left shoulder. The distance between the shoulder and the head and the head and the shoulder must be equal. And that's a perfect one. So let's take a break. We'll be right back 877-927-6648.