 The following is a presentation of TFNN the Tiger technician hour with your host Basil Chapman call now for free at 1-877-927-6648 Hi everyone Basil Chapman on this Monday this is March the 21st and we're looking at the down 130 and 34,623 it was a surprise to see that the futures which were down sharply last night and then start to come back this morning and then saw the Dow actually making your recovery high from the fabulous action Wednesday Thursday and Friday last week the Dow and they have to be closed at highs and each day there was an inch a day overnight pull back and then move to the upside so the fact that you went to new highs means that there was residual trading that didn't get quite finished on Friday and money came in but under any other circumstance you should have seen intraday from the almost from the opening some kind of a 20 to 30% pullback of the last hours trading on Friday that would be normal we saw that Thursday before the rally we saw that actually Wednesday so this is very unusual now there's a composite and it says you know what we've probably seen the highs of the day in fact we might have seen the high today going into Tuesday might be Wednesday before we can see further running we'll see days young but most importantly the Dow did go to 34,808 that to me is important because what it says is that that whole area of the Chapman inside track right here this is the green and red trend lines to the downside that becomes really good support in 34,000 well first of all the Georgia period moving average of 34,000 370s but you can go all the way down to the 34,000 level and still have support I don't want to see that why because the stochastic is at 93% I mean that is fantastic the Magdi is very strong on the daily chart the 90s over the 14th that's a confirmed by mode and that says you should go to at least a D it doesn't mean to say you have to do there's a rule but that's basically the charter of the Chapman methodology and to go with it the unbalanced volume is very well and there's a little gray line that you can see on the left in the daily chart that's the relative strength index and that's doing very nice everything says this is a much needed consolidation of the spectacular three days is really four days we went along the Dow on Tuesday morning pre-market equivalent of about I'd say 30 run about 32,000 maybe 32 900s because we went to the diamonds which is a little bit different because it was trading before the open on Tuesday now what's important is that within the context of the weekly chart you see what was to have a inside track propellant zone got broken you had a Chapman with Roman candle this is a positive one that was the week of the that was week of I think was February the January the 28th and then it ran up two bars and the third bar came back down then it took it out went down to below 32,272 and now what we're looking at is that this support level that became resistance is back to being resistance and you can see the Chapman inside track down trend line I don't want to overdo it yet down trend line and that's just combining to say you can move sideways and go out of this line but it is it is a resistance so everything here fits right now I'm looking at a market that says this is exactly where I would have thought that you would be at about this time maybe a half an hour later this is 10 10 10 in the morning I would have thought maybe 10 30 this would you'd be down 140 ish points we'll see what happens for the rest of the day now what's really important let me show you something very interesting the S&P and I had spent some time with my subscribers on Saturday when I did my video my overview showing them this particular pattern remember we spoke about the green Roman candle it's the same thing yeah January 28th in the S&P but the monthly chart made this pattern right here and the reason why I make I fixate on this is because over the decades that I've done this I don't know how many times we've looked at that count there's the same candle February of 2018 just after the all-time high was made at 26 80 20 87 287 January of 2018 the next month was a little bit lower yep and what we saw was there's a little Roman candle and that's one thing but the real big one was back in another one was almost almost a Roman candle made of 2015 after the 21 34 high three one month later we make that candle and then there was a repeat candle that was a successful one because it went below it this is the candle of January of 2016 but of course those of you have been around for a while know that the one that really was the pillar of testing the Jabba methodology was the one after the all-time high in October 2007 and 1576 point oh nine the following month we had a perfect chapter with Roman candle and then it had a doji candle inside candle and then it plunged the following month which is a month of January of 2008 it produced another Roman candle which tested the low then we made the dreaded age pattern failed and we plummeted down from 15,000 1576 to 666 point 70 something 79 yep 79 in March of 2009 remember that's when Larry was calling for four weeks he was talking about some spectacular low that would be made and I was doing my own work and fortunately we got the Dow on the 6th of March that was Friday we got the low in the diamonds went along had that for about 18 months and it was on Monday that the S&P made it slow so we're looking at really 666 and we're trading right now at 44 49 I would say that's pretty much a bull market right there so if you expect it to continue is quite a quite a good spur on our part but look you've held very well so far in this monthly chart but March has another almost two weeks to go anything can happen and it usually does so let's get out of this I want to go back to just really quickly I want to show you the QQQ the reason why I say that it's going to continue to lag but some of the stocks within it should start to find a base it's because it's had such a tremendous move of lower lows and lower highs for so long that it's impacted the monthly chart with yet another Roman candle last month and we've gone below the left side low to 317 45 and the dreaded H pattern the daily chart that impacted the weekly chart so I see a lot of I don't see I don't think we need to break down immediately and go under 317 but I wouldn't be surprised if a chunk of consolidation takes a sideways trajectory in a rectangle formation we're kind of limited 357 resistance another 10 points higher in the QQs before we really find some kind of a base that looks out further the IWM has held very well the Russell small caps but so far they're not really showing leadership role but they're showing good good strength did I do all this gold my gold is now up 6 at 1935 still in this consolidation pattern of the 2078 in the continuous contract down to just under 1900 30 of 1935 I'll be back in a moment. 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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 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 free at 1-877-927-6648 internationally at 727-873-7618 I was going back and I'm looking at the tiger den bbi g a bbi g got typed up typed it to the den no don't type it there type it here there we go bbi g something i've followed periodically um suddenly it pops up uh 16 to 290 what was it Vince Ventures Inc of Inco Ventures Inc you know I don't remember what it did I looked it up once and it seemed to have lost all that data but this is a very good move so you got these sporadic pops to the upside here what what is really important as far as I'm concerned is over the next I oh well the beginning of the week over this particular week I'll be looking at a situation where within the context of all the different sectors you've gone back to looking at crude oil let's look at CVX CVX nice bounce but the eye that was made at peak E at 173 was it 174-76 on the 10th pulls back very sharply gaps down that's full the gap gaps down to the 158 area and now it's at 164 I think this consolidation is going to go on just a little bit longer remember the buffer just brought a bunch of oxy all-time high oh no no no no no there's no all-time high this is a high all-time high uh uh yeah there we go all-time high and oxy oh gosh I used to have this all notated beautifully here it doesn't matter oxy trading this is a peak A peak B peak C in leg D at a 61.86 here's the chaplain wave inside wedge for the side this is the falling axe pattern right there uh there we go and that says there's a chance that there could be and this is the chaplain wave inside track repellent zone so I like to do that always I call it a 1 16th maybe a little bit more of an inch on your chart that's a real technical term 1 16th how do you actually notate that right so but it's just a narrow band it's a little mini channel right here and then you've got the large of x with the lower highs and much lower lows eventually finds a base tries to turn around it's in a peak A you can oh this is a lower low so the low of the March the 20th and $9 was taken out it went to 852 on the october 2020 so this is really your starting line that's what I did so this is peak A this is occidental A oops A uppercase on the way up the alphabet sequence D objective in the buy signals to get to at least a D and there you are on a D in the monthly chart of oxy potential occidental let me just type that in oxy dental better row um cool all right multinational accidental it's not a it's not a semicolon and it's an L I tend to do that every once in a while yeah it's a very very good action if it breaks if exhaust on a monthly basis to trade in the 65 area wow that is really an amazing wall what did I just do there an amazing feat and talking about feet um let's see where the weekly is so this is a brand new buy mode A B C D E F so it's getting a little extended but it's in the sweet spot so extended music can go even further it's at 61 at this point um you're looking at between 59 and 50 53 as a very strong base at any time if it has a sudden pullback question came in where did I see the question oh what is that 9.55 percent wait a minute oh it broke up 9.55 oh okay yeah I don't know I thought it was like five and a five and a half five and a quarter with oxy maybe four and a point eight yeah and look at exon so all of these are doing well most of them are digesting gains oxy because of Buffett is breaking to highs recovery highs the others are just digesting gains and that's the pattern that we've looked at this v shape inverted v shape pattern straight up straight down takes a little bit of time to to recoup those losses and and get back onto the up trend we're looking at question came in here if I'm just finding could I look at caterpillar and deer caterpillar is trading let's see caterpillar is a new recovery high this is a fabulous move up this is caterpillar in heavy duty equipment and it seems to me that it is directly related more to agriculture than infrastructure based on what I'm looking at at this particular point a b c d I think that might even be an e right there uh 223 no 223 78 223 70 yep so that's a d and that's an e there could even be a chaplain wave inside a wedge um sorry I didn't mean to say that I was talking at the same time as thinking in here we go so you've got your pd and within two bars you made new recovery high so you've got yourself an alternate count here of f slash b with an instant restart and the magnies strong the casting is fantastic in 96 so this has 230.43 the the high of the 18th of january as a target left side right side price time match should I do that now live uh yeah why not okay so we're going from there to there but I like to choose what would be the plumb line well this can't be the plumb line because we've used up in a quicker time frame you've already gone that high so what I naturally do is to go for the smallest candle usually go for a doji candle right there and then I try to match it to the right side and say can we get to 230.43 in this amount of time and that's going to be green so we've got the v shape pattern or a cup formation and that says yeah that's too short that's not going to work you have to go to the other one so this will be one two three yeah I guess we're going to have to go to the low let's go to the low and move it out to the right and that goes right through that line yeah that says that by the week of the 29th of March that's within a week what's the day 30th by 21st within a week or less you should have tackled the 230.43 how January the 18th that's a catapult and key support is in the 215 to 12 area that 210 area so that that's really that should be very strong support uh dear just trading up huge is trading up had an open round number open a full 15.00 hit 426.80 and it is now at 422.36 up nine we've been long since 387 so that's a that's a pretty nice gain I have it I have a question mark I meant to do this on Friday I did discuss it but I should have discussed a little bit more saying the rectangle formation remember the IWM went into the sideways action for so long and then it broke to a leg D uh back in November I think it was it went to the 244 side at the top then it went back into the rectangle and then it broke down below it so the big question is so you've got the same thing here there trading between 393 and 320 you finally reached to the upside and this was this is something permanent but I think permanent meaning in the month job and I yeah this is something that is 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banner on the front page of tfnn.com Hi folks i'm meant to do this down 167 sbs down 14 i had drawn this in and i drew it here with this cup formation in the one minute a 10 minute chart of the e-mini from the high that was made at 44 65 75 at about five a five that should have been p.m. oh on the 18th just after the uh the close and that configuration of the uh the different uh indices and what we were looking at is there was a pullback and it took all this time and it made a low right here at 150 on the 21st and that was 150 on the 21st that was a m so it made this low so what i was showing was there was a cup formation and i i started to do this but i ran out of time when i was doing tommy's show and i i didn't quite finish a bit of what i wanted to show was look at the plumb line from that high in the 44 65 area to the low that was made of 44 30s 36 points sounds like a lot but these days and you can do that in the blink of an eye in fact we've just done it from the 44 64 44 73 high that was made 30 40 minutes ago to the 440 level we're at right now so what i wanted to show is in my work there's a particular technique that i used i called it the left side right side price time match and but it could go to the upside it could go to the downside we're basically what i was looking at there is that i know people think that on the downside invariably you get this waterfall cascade when you're going down you go down what is it climbing the stairs and down in an elevator or vice whatever it is um but i always say no most of the time you go up and down in the same number of bars the market is really very orderly most of the time but what happens going into a higher going into a low the last couple of bars can be an acceleration as the nervousness of the fear of missing out or the fear of being in it takes hold and look what happened right there to the exact bar i don't want to count the bars other than to say we get a measurement from the left to the right to the plumb line at 150 am to the right side green rectangle little mini sideways bar we went there exactly and that it was actually one bar it got there exactly and then it had one extra bar to go to the higher 44 73.00 and now it's come back down so what has it done it still remained in basically a rectangle formation so i'm all about patterns that repeat i'm i'm a visual artist i mean more ways than one that's what i when i left high school as an athlete i did not do any more athletics um i went to art school so i'm a visual artist i did design then i went to music um then i went to the stock market so what we're looking at here is this rectangle a long rectangle formation says that the base of 44 30.75 right there um that's going to be key start to trade under it and then the 200 period moving average this is a 10 minute chart or 44 24 becomes in focus the moment it gets below or i would say any move on a closing basis below 44 29 says uh oh be careful you could drop another five points to test the 200 period moving average so that means we could actually stay in this range for a while longer we'll see what happens i i'm this is this is the consolidation i was expecting today i was pleasantly surprised we actually ran up a little bit but that was for other reasons more importantly what we're looking at is uh this is the consolidation that you would expect in leg c being somewhat extended in uh in the data chart so um let's go back to a couple of questions that came in could i look at all the questions i did that i did that i did that did that did that um could you just review uh Shopify yeah Shopify sch op because that big spike and then i just faded this is a stock that was at 1762.92 in november peak g in the uh monthly chart peak f in the daily chart and in the weekly chart and the daily chart i think was an f yes an f in the daily chart and chapter week methodology we took out the 200 period moving average daily support and it broke down the weekly went to a negative cell signal then a cell mode and it plummeted to the most recent low of 510.02 on the 14th of march screamed up can you believe you're going from 500 to 790 or 780 was a 780.00 a round number high these round numbers can be a killer look at the 780 on friday 80.00 and all of a sudden this trading is 655 i don't think it's ready i think it will be ready later in the year but right now it just needs more time a couple more spikes like this using usurping some of the downside energy but also using up some of the upside so i think it's in the trading band but i do not want to see it below 580 um that's going to be it goes below 580 uh oh there's a bigger problem than we thought online store individuals um for individuals to use as a platform Shopify in shop trading a 655 94 down 124 down 16 percent after a fabulous move to the upside um i know some of you this these are the stocks that you were looking at this stock you signed that we've been talking about for a little while just as examples of absolute leaders i mean leave nobody was not talking about a doc you sign as one of the great company innovative who's not going to be using the electronic signing well i tell you it's not using it those people that bought it at 314.76 in august of 2021 and looking at it go down to 71 uh they're they're saying wow i could drive in and deposit my my whatever information it is i don't have to be watching something go down why what is this 70 something percent this is a huge move down so yeah and um so this doc you signed and i love that it filled the gap i love that it filled the gap if doc you sign could actually start to trade hold is a 93 71 doc you uh if it can hold 92 too too little if it can hold 88 in fact if it could just touch 88 once if it has to pull back but immediately go to 103 to 105 i'll say this is the first sign that i'm seeing that doc you sign could get off the bottom uh that it made uh that was seven days ago it was at more than that at 70 oh 71 round number low oh look at these round numbers 71 r slash n low and that was on the i forgot to look i'm just going to call it for now three five we'll go check and see what date was 22 and here it is 70 71 round number low to the high of today 100 that's a 30 point that is that is a big game 40 40 percent summing in just days see this what happens when you come off loads after being smashed to the downside the percentage gain can be really big uh this is the low of the 11th i'm sorry i see the 11th was at 311 so this is a nice start this is the first time i can actually say this is a good start to some kind of a turnaround because look at the histogram in the weekly chart improving um that monthly chart says are you kidding i need a lot more time you might need time but this is really good that you got off the low like i like that part so this is a much better chart because it's full the gap and it's traded above the gap uh let's see we've got a rate coming up we've got 192 down down 12 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tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv our first we're back a battle happens here and i'm the author of the open call date newsletter and that's a really nice chase we've actually started something this morning a very low price stock but as a kind of experiment to see whether or not we actually get some infrastructure building i don't know if we're going to but it seems to me that some parts of some sectors like a caterpillar might just not be grain related it might be more infrastructure we'll see we've had a lot of money being uh given out for that type of thing so and another question came we could you just do another one of those left side right side price time matches uh because the 10-minute chart is held in the rectangle formation so this is what i do you see the stochastic went above 80 but now it's an eight it's it went about 88 now it's an 86 as long as the stochastic can hold above 80 it can't go underneath it after so quicker time being below it it means that there's going to be some support and what i like to do is within the context of this is a one-minute chart but it doesn't matter what it is i go to the left side previous highs in this case it happens to also be the 200 period moving average and i take a left side from in this particular right there from 10 o'clock at 44 52 25 i see the pullback and i draw in a cup formation because that's kind of what's forming at this particular time the nine has gone over the four so that's that's a good side but there's very now the 200 period moving average which is declining not not rallying is at 44 49 and that just says to me the pattern that i'm looking at is that a cup formation can go with an inside wedge target resistance line and that goes to about 1050 we're at 1044 at 1050 actually i should move it a little bit further it says by 11 o'clock by 11 o'clock if there's a chance that we make a leg see that's above the high it was made at 1042 at 44 47 75 in the s&p mini then there's a really good chance that we're going to go towards this high right here the high of 10 o'clock at about 44 53 so that's and it's not going to do that if it starts to fail then what i usually actually when i'm doing this i try to i try to have my hands free so that i can draw the chance of a failure which be the arch formation but so for everything look as long as it's holding above the 90 ma the 14 is above the 9 is above the 14 holding green there's a chance that we can move higher that's all you do and then you have to have a failure i always have very tight stops and i'm just it's got to do what it's got to do there's nothing else at this point that i can do more likely it's it's in this rectangle formation it needs to show strength by powering right through and it needs to do it fairly soon so that's that the other question i had was made it again are you on nope nope not that oh could you do a couple of stocks that are really important for for the overall market in terms of those fang area look i'm including microsoft microsoft as i said before i think it's in the area that needs more time look microsoft is in a rectangle formation it's made an arch it's had a spectacular move to 349 all-time high did have a two-chapen wave roman candles that was it made its high back in november but january and february and it's already full the lows so i think this is kind of stuck for now so when you put it together with facebook it's the same kind of pattern just it's rounded off the low i think it's now going to digest those gains if you put it together with apple different categories all together apple might be in the same sector but apple is consume electronic software online services it's really a different a different kettle of fish and yet it's the same big digestive phase same as docus and same as the ones i've been looking at even though this on a monthly basis you say wait a minute this is fantastic action and that's what i'm saying you've got to try to take each one individually that's number one and number two is try to think of them in their own category so apple is more it's like a consumer good that's really part of the infrastructure of of the economy and it's very different to having a like microsoft that apple has a different consumer perspective so if i go to the xrt which is the this is the s and b retail equal weighted so that amazon doesn't have its huge usual big weighting what we're looking at is yep a nice leg c but you can see this whole retail sector except for some isolated clothing apparel areas that are just doing fabulously this is a sector that's taking a huge digestive period again if you look at the rth which is the same thing but in the so this is the s and p but the van ekk rth here we go rth is the van ekk retail etf and 20 is amazon and even with that you see it's a big digestive phase but it is a better pattern because amazon has been such a big weighting and it's so important to it but if you're looking at it as a sector this is a these these are sectors that are having you know a lot of problems so i i think there's going to be time needed to repair that kind of damage if you're looking at the smh's um smh's where did i type that smh let's go there smh look at this smh stalling right at the 200 period moving average i think this is a sector that's saying overall this isn't a spectacular economy we are the sectors that are doing very well overall the semis are saying we're in a big digestive phase and that's the way i look in video yeah when having a meeting on what they're doing yeah big balance big deal it's still in a big digestive phase stuck between i'd say 280 and 220 if you're looking at oh i just thought of it a second ago i was about to do it and now i can't remember what it was oh oh come on uh have a sip of tea oh oh good question came up good call good call what what a good call what let me see are you talking about the emini oh good call look at that perfect within the time no it's not perfect we haven't made it yet the s and p just popped through the four leg c at 449 4,000 449 75 leg c it's kind of struggling yeah but it's still over the nine period moving average it didn't get to the high that we wanted oh well it's still got another 10 minutes to go but the level we were looking at was 44 52.25 and it went to 44 49.50 it's close it's getting close so the two fighting patterns here's the cup formation that's winning that's what i love to look at and it's being beautifully and it's on the same the time frame uh i use this as the plumb line right there right there so it means i need to move it over just a little bit because i i didn't have enough bars to the right there it is okay and that takes you to 10.52 all right we got time we'll watch this closely i love this live real-time action so let me just sum up before we run out of time iyt this is the right this is the i shares dow Jones transportation average index fund seven seven words i mean come on um it's in the middle of the range is holding pretty well jets which is the airline index not doing very well come off came off the bottom under 17 is 20.18 jet s down 40 20.18 so you can see what i say it's an activity we're really focused on activity so a couple things that i was asking about when i do the weeds yeah we as a digest games and smile chapter wave roman panel at 363 i'll talk about it 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 and 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 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invested or 7,000 per year on a secured tiger first mortgage the tiger first mortgage program may be just the program for you the tiger first mortgage program pays 7% per year paid monthly for more information you can call 877-518-9190 that's 877-518-9190 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 Hi folks so if Mr. Lee went to that pd remember the Chapman Way buy statement should go to a buy mode meeting at least a pd went to pd and there's one more chart this is live I want you to show you what we do and then how we try to do this for subscribers to my opening call now we'll be looking at a quick question came in or a question that I'll answer quickly ARKK this is Kathy Woods arc innovation ETF came off the bottom of 5185 after having 125 high back in November or 2021 what a plunge and it comes down and it's trying to rally so the question here is I've started position from the lows what's next well I like the fact that it's starting to show technical improvement the 9 hasn't gone over the 14 yet I think this is summing up exactly what I'm talking about that these are the sectors these are the stocks in the sector that have been beaten down the most that usually have a quick bounce and then they have to find support if ARKK closes 6374 today right now if it closes any day below 61 it says uh-oh it has to find a whole new bunch of strength and a lot of the stocks look like that if it holds well it made a new leg a continuation pattern today if it's able to trade to 69 between 69 and 50 and 70 this week that says you know what the low that was made might not be the low but it's a low that is tradable and that you can start to see the moving averages and the in the weekly chart of 67 64 the 9 and 73 36 the 14 try to get tested for the first time since it broke down in the fall of last year when they say fall they mean fall so just as we're about to wrap up and hand you over to Larry Perzevento I believe Tommy will be back tomorrow for his show I did this I used that hour this morning so I've been here since nine I believe that yeah so we've got Larry Perzevento should be one of the shows always he's got thicker sport that you've got Steve Rhodes, Dave White, Humber Bryant wraps it up to check out the programming let's just see where that evening is going right now in the buy mode yep it just broke out wow look at that 24-55 this blanket is resolute I like that have a wonderful day see you tomorrow check out more. Thank you.