 The following is a presentation of TFNN. The Tiger Technician Hour. With your host, Basil Chapman, call now. Call free at 1-877-927-6648. Everyone, Basil Chapman. This is the Tiger Technician Hour. This is Tuesday, Tuesday the 24th of May. And what we're looking at here is something very interesting. You've had the volatility actually start to climb after that really good Friday low in all the indices. Very strong close on Friday in that last hour and a half. You saw the spectacular 600 point Dow move. And then you had a beautiful follow through with the Dow up 600 points yesterday. Normally I'm anticipating 20 to 30% of the last hour's big move to the upside. So this is a little more than we're looking at. And you've got the VIX index for the first time after the move yesterday. Whereas start to pull back. Now all of a sudden you've got the VIX up at 29.91. If it starts to go into the 30.50 area a little later today, that's going to be very pro-action. Let's just go through the numbers. We've got the Dow. The Dow is down 221. Not bad at all after coming up from 30,535 to the high yesterday of 31,770. That's really a 1,200 point move in just a couple of days. So we're giving back nothing unusual here except two things. One is we needed the Dow and the days young. We need the Dow to at least move towards the... Let me just get this changed. We need it to move at least towards the 9 period moving average of 31,844. Somewhere by the latest tomorrow. The couple of starts that we've had this morning after being down sharp overnight were good. I would have much preferred for them to not be there at all and have the market week, week, week. And then slowly as we get to 11 o'clock this afternoon, as I'm finishing my show, and then we move on to maybe 12, 30 this afternoon, suddenly you start to see some buying pressure that allows the general... I don't want just the Dow, I want the general market to move and you absolutely need the QQQ, which is trading right now. Where did that go? I wrote it in there until the day I don't need it in the day I need it right here. The QQQ, which is at 283.55 underneath key support at the 288 level. Now this is going to be a little bit more serious. We're down almost 10 at 283.71. Well, of course, you've had a whole bunch of Nasdaq type stocks that really have been pummeled lately. What you want to see is some leadership and how that leadership unfolds is going to be much tougher right now. Now, one of the things I discuss is within the Chapman Wave methodology. Let me see if I can go... Yeah, I'll just go here to my chart that I show my subscribers every day. So this was the fifth Chapman Wave Roman candle. We've had variations of it. I've never spoken about variations before until recently. And each one produced a fabulous two-day, at least two-day rally, with three summer war, and then it failed. And then it failed and went to a lower low. Well, so far, we've had a spectacular turnaround on Friday from 30,635 to a big move up to the 31700s. It's the pink nine-period exponential moving average. It just can't get out of its own way, 35,590. And what do we see? We see kaplop. We've got to move down today, 288. If we go down minus 350 and hold it for an hour and a half, I think that's not going to be good action, certainly within two days. If there is a move, and you never know in a market like this, I'm just showing you it out there. If there is a move of the Chapman Wave Roman candle long week, underneath 31,000, and it holds for more than a few hours, I think we're going straight down to test the low that was made at 30,635. That makes it very important that in the next couple of moments, moments are meaning 20 minutes to 40 minutes, some kind of leadership role just unfolds and allows the tendency for buyers to come in when the selling dries up to work. And that's all we can say. So let's go back to our story here. I'm going to give you parameters to watch. Let me just show you something here. Have I done this before? I haven't done this before. Let me see. Is this the one? Yeah. So let's go to this. This is the Chapman Wave automated notations. Look at all these support levels here. This is the QQQ daily chart. Look how it's negative. The nine is under the 14 period moving average. And each support level has held for a moment and then been taken out. The 332.47 lost the only upside resistance. And the high was actually 332.29. That came in and pushed the price back. Now we're starting to move underneath these key support levels of 287. Is that 477? And we're 283.56. If you're looking at the Dow, also negative connotations here, 31,300 is a really important support. Otherwise, you go down to the 30,689 level. And of course, we are looking at the low of 30,635. So it it nicked it by 50 points. And now we're going to see the QQQ. We did the QQQ. Let's do the S&P. S&P at this particular Chapman Wave automated support levels. If we take out this level right here of 389. Yes, 3891. We're at 3897 right now. Watch out. The 3750 area, 49 area will become a target. Don't really want to see that, not today. IWM we did. Let's do the IWM. Russell 2000 has 172 as support and is trading at 173.98. Very few resistance levels. I don't like that. I think it says each level of support is really important to hold. If you look at the SMHs, and that was a clue yesterday. You didn't get the SMH moving like it should. And today it's down 7 at 222.71. The 205.62 is the next key support level. So that's not such a great sign. Looking at the GC, the gold. Gold has had a very nice move up. It's hitting the 200 period exponential moving average. 1896 is a strong resistance. If it's able to close, I would have to say if it closes above 1878. It's at 1863 right now. There's a real good chance that the 1890 area is going to be a very quick target to the upside. How does it hold the support? We'll see. Looking at silver. Let's go to the silver. Silver has waiting for data. Waiting for data. Come on, silver. Hey, ho-ho. There we go. Silver is holding quite nicely here. It's made a peak. LAB is at 22.01. It's up 0.29. It's not a great pattern at this particular point, but it is moving up. Let me just show you the GDX, because a lot of people have asked about that. It has supported 30.17, and it went down to 29.66. It had double support, 30.46 and 30.17. 33.17 is the resistance on the upside in today's high. So far it is 32.79. Looking at the dollar. I wonder if I haven't got this for the moment. Yeah, recent times. 105.13 was the resistance. 105.0301 was the recent recovery hind, the dollar index. 101.80 is the support that's trading right now. And 101.93, the TLT, which is the key ones, has doubled support at 110.32. Time of booming 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 Cod Gold Project in the 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. This is a large-scale, low-cost project with significant existing infrastructure and a politically safe and friendly mining jurisdiction. Vista Gold just completed the Monk Todd Feasibility Study, which resulted in a 7 million-ounce gold reserve in a 16-year mine life. All of this combined with the approvals of all major operational as well as environmental permits. 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Toll free at 1-877-927-6648. Internationally at 727-873-7618. Hi folks, we're back. Basel Chapman. Targeted. This is our... The bonds are up. TLT is up 252. Just starting a leg C right now. And that's a good sign in terms of the yields because now you've got the yields starting to come down. That's really important. If you're looking at... Let me just do the U.S., which is the... U.S. is bonds itself. That TLT is the Lehman 20-year Treasury Bond Fund. We're going to go to bonds. And bonds is... Yep, same thing. Acting very, very nicely. So we got ourselves a TLT buy signal that's really close to a buy mode because the stochastic is at 86% in the bonds. MACD is good. 9-period moving average has gone over the 14. So bonds can actually start to move. This doesn't seem to be helping the market at all. The Dow is now... The Dow is now down 436 to 31,441. So every single time we've had this fabulous candle given a beautiful 600, in this case a thousand-point rally, it then failed. And so far, we've got to consider that the dollar, that the Dow, this is not great action at all. The S&P, that's a very different kettle of fish because the S&P at this particular moment has taken out the low of Monday and has taken out the close and open of Friday and we're into the WIC. And once again, I'll say it. If the WIC, if we go into this WIC and hold more than 90 minutes below 3867 then the S&P is a real good chance we're going to go straight back and test the 3810 level on Friday. We don't really want to see this if you are looking at signs of some kind of strength to say within the general economy we know that there are so many factors that are impacting the market. Let's see what Zoom is doing. Zoom had some earnings that were okay, I guess, or at least at first they thought it was great at bouncing about 12 points. Now it's down 56 cents at 88.73. It just doesn't get a break. It made a trough E in the weekly. Look at the spectacular move from 588.84 with the 477 round number open back in October of 2020. And here we are at 88. I mean, 588 to 88, you've just lost 500 of those points. This is not a good action. So right as we're speaking, this is the very moment that at 1025, is that right? 1021, between 1021 and 1040 this is the moment that the general market has to at least try to find some stabilization so that prices don't go to the QQQ going to the bottom of that wick. Let's just see. QQQ. The QQQ. Oh yeah, it's into the middle of that wick. Uh-oh, we're going to give it about another hour. And if it holds under 284, let's call it 281 right now, then there's a real good chance that we're going to go to a leg deep below 280.21 very quickly. Yes, there were signs. Look, the vertical test on the May the 12th, yeah, May the 12th had better technicals than it had been in the recent weeks. And then the low that was made on Friday saw much better stochastic, much better MACD. But no, the on balance volume wasn't there. So this move that we're looking at right now, the failure to go, it did make a very, I thought it made a slight peak A yesterday, 29380, 29387. Yes, there wasn't a very minuscule A, but that doesn't matter. We're looking at the prices and the prices, the arbitrar of the trend. So today's the last day of options roll over. So expect the unexpected. Yes, S&P, thank you for that. I forgot about that. A 2022 phrase of the year, Jerry says, demand destruction of demand discretion, not demand destruction, but the demand is being distracted. So let's go on. We're going to be looking, I just wanted to show you this here because it's really important. We like to be very timely here at TFNN when we're looking at the markets. So what we're looking at here, this is a gray A in the S&P. It went down to 3876.75. It's rating at 38.89.75. No, 38.88. At this particular point. So if you are thinking this is the moment where some form of reversal attempt and then maybe a first one and then a second one with a higher low is needed, that's not good enough because we haven't had enough upside action. So if the upside went to 38.89, I'd say 38.92. And then we pulled back and then we went a little higher and then we pulled back deeper where we didn't take out the 38.76.75 and the E-mini futures, June contract. Then I would say, aha, now we're ready for some kind of, in some ways, because the Qs are so much weaker. If the Qs weren't that weak, I'd say, you know what, let's just show you something. I'll get back to this in a moment, but while I'm thinking of it because I think it's very important, the DOG, which is one-to-one short the Dow, went to 36.65 in leg and then a peak D. That's what we look for where other things can happen. Well, other things did happen to pull back very sharply. Yesterday, we went down to the 35, roundabout 35 level, announced the 35.67, but it's still way underneath that high that was made at 36.65. This is the one-to-one short the Dow, the one-to-one short, the S&P is the SH. It did a recycle and it went to a peak D as well. This one went to 16.52, I think it was, 16. Oh, 16.54 and at 16.54, let me just, 16, 16.54, what we're looking at is it pulled back, not that much, but it pulled back to the 1570s and now it's a 1621. So this is just saying to me, this is one of the reasons why I say to subscribers, I think that we are trying to establish some kind of support level. We don't get too carried away. We still have the very high cash position. We've got trades going in and out, but at the same time, what I am looking at here is that within the context of the weekly chart, there's only a leg C. That doesn't mean that the inverted indices always go to Ds and then fail. No, they can fail beforehand because they go one-to-one, but it isn't an exact copy, a replica or a mirror image. So I always say, I like to see Ds or Es, but that's not necessarily the expectation. So with that said, it does down 412, S&B's down 18.9. This is just not good action. The QQQ is down 10 to 82. I need to just keep checking my, one run to the break, but I don't know when that came in, 8.25. I guess we're coming into the break, I don't want to miss it. Again, I had this earphone thing and I hope during the break, I'll be able to fix it. I probably should shut everything down, but it'll take too long to come back up. So I'm only going to be able to do some kind of adjustment. We'll see what happens. And I'm about to say, we'll be back in a moment. Now is now. If you want to take advantage of this sector, now is the time to subscribe to my Gold Report. 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Using this first-of-its-kind program, you'll be able to scan thousands of stocks for Fibonacci formation setups, including Gartly's, ABC's, Butterflies, and much more. The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now, we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day back guarantee. Don't miss out on this incredible new piece of software. 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. Okay, you want to bring me in? As long as we're back. So we're looking at the SH, which is a one-to-one short, the S&P, D, and it's made of P, D. If you look at the SPY itself, the SPY has gone down to a trough D. So as I was saying, this is really a very important moment because within the context of some of the technicals I look at, not the major ones, but some of the technicals, the actual... It's better to show you this way, look. See the Chapman Wave inside track, Pro Palin Zone, see how it works so nice. It had worked so nicely. I don't know if it'll still work here on the weekly chart. Look at that. It ran up from that level. It's kind of what you want. And even the pullback today, 407 in the doubt, that's not bad. But it's the S&P, the 500 stocks that we're looking at. So let me just do a couple of things right now. You've gone underneath the Chapman Wave inside track support level. So that's a negative. The QQQ, as I said before, very ugly, not good at all. So I don't want to be messing around and listen, for that reason, we've held up a big cash position. You're trying to get into certain very low priced areas. Why? Because you don't have to put that much money to work. If it works very nicely, it gives you a nice percentage gain. Just keep, we want to keep doing that. And as long as we can do it, that's a good sign. So on Friday, I showed, on Saturday for my overview for my subscribers, I showed a stock MNKD. This is called Mankind Corporation, M-A-N-N-K-I-N-D Corporation. Inhaled therapeutics, diabetes, pulmonary, hypertension. And I said, look at this incredible, this was right here. It was right here. Yeah, that's where it was. Right there. And I said this showed up on my streamer list. What is a streamer list? It's stocks that are under $10 that have a chance to give a really good, very quick percentage gain. And if you're lucky, we get them on any kind of pullback or we get them and they move and you take off some and you keep some. It's as simple as that. Well, I had it here on Saturday. I didn't put it in yesterday because I just was, I was looking at the general market and thinking, wow, that is it going to be a good day today? Let's just focus on that. And so we basically focus a lot on the indices. And look at this move. It went from basically a low of three, right about 360 and screamed up to a high of four, 77. Now, I, you know, diabetes, therapeutics, pulmonary hypertension, I guess there's inhaled therapeutics. This is a, it's a big deal these days, but these biotech stocks just go in and out of phase. So I thought, all right today, and what I had written today is let's try to buy it on a pullback under four with a 25 cent stop. And if it goes and I have all the rules that if it gets to a certain point, take a little bit off raise and stop, et cetera. But it did everything and I looked it out at the very last minute and I thought, I just, I got to focus on these, the stocks that we have. Well, look at it now. It's up 17 cents at 434. And I don't know if it's an F continuation from that P E because it never at 2.61 on the 12th of May, it never took out the low that was made to start the buy mode before 2.49. That was on the 28th of Feb. So it could be, it is biotech, so you've got to be real careful. But yes, I took it off. I'm sorry about that. It would have been a real nice one because we would have got it under four and it would have been trading up about 8% from that low. And that would have been real, that's just kind of the stuff I want to be doing right now for subscribers, just getting really small caps, not small caps in the sense that they are cheap, that could be expensive small caps but they are just price wise. And yes, there are a lot of people that keep wanting to be involved in the market all the time, regardless of what's happening. We've built up this huge cash position. Don't have to be overdoing anything. But look what happened. Big spike, up 13 cents at 4.30. Hit 4.39 today. The low is 3.92. I hated when I do the work and then it's the very last minute I blip it out. Most of the time, it's not a good idea to blip it out because you've done the homework, you've done everything. I just, I don't know what to say, just a little embarrassing there. And I also wanted it because it would make up for the one that we had yesterday, very low price, but it didn't do what we wanted and it pulled back much sharper than I wanted it to, but at least we had a very, fairly tight stuff for a very low price stock. So with that said, TTD, question in the den. I was at a statement. TTDs, this is the trade station. Look at that gap to the downside, down 10 and 42, 25. This is the thing that I'm most worried about. That even though there have been so many stocks that have been just lambasted, this is a stock that was once in the 116, I think it was, 15 or 16. 114.89 was the high back in November 2021. And here it is. 42, it hit 40 this morning. It had a low, just under 40 a week and a half ago. Everything is getting docked. Let's see what happened to docusign. Docusign also turning around. It's at 72. It's trying to make an arch formation. This is really important. If it breaks under 70, that's just not a good sign at all. It's at 72. This is a stock that was at 314.76 back in August of this past year. It's quite, sharpify, sharpify trading down again today, 338 down 30 and 8% at 337.39. This is a stock that was at 1762 back in November 1762. Sounds like a date we should know. Yeah. So this is really a very important thing. So a couple of questions came in that pertain to over the evening period. And let me just show you something here. And please, I'll just do me a favor. Give me a yell to say that because I'm going to try to restart my computer when we get back. Yes. Yesterday, I really didn't sound like a bull. What I was saying is that on a very short basis, I was very, it was very positive that we had that follow through. And then the question always comes in. Five times we've had Chapman Wave. Yeah, let me just go through this again. Five times we've had the Chapman Wave Roman candle or a variation of it. And I just need to check here. He's actually going to give me a minute and a half to the break. Thank you. Just yell at my ear and just tell me it's all over or whatever. So we're looking at the Dow. That was a very good candle, but we've seen this before. And what I said, we've got to see what happens on the second or third session after the rally. And that's where we are. So with that said, I'm just going to say the Dow is down 428. This is really very ugly action. I don't want to do anything other than to say that. That is not good. In the big picture, it is still, the month of May is a little bit young only because what we're looking at is the... Let me see. Can I get that in time? Yes. That's the monthly chart. It's gone from $6,952 to $30,635. No, it went to... Yes, $635 in all this time with the most terrible use that we've had in years we've had accumulation. All right. We've got the break coming up. Folks, this is Belza chapter. Time conditions are... I'm going to actually shut everything down. I have to try something to get this working. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa and Clearwater markets? Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area. Whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property, Tiger Realty has the experience across all areas of real estate in the Tampa Bay Area to help buyers and sellers make the most informed decisions across all price levels. 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It's at 138.40 down 473 and 138.36 Underneath the Chapman Wave inside track support level is now repellent zone and actually tried to get there yesterday and then it got repelled. Putting that together, this particular chart here on the right in the middle, that's the weekly chart. Look at the GDX. The GDX had this vertical move straight up. It was like an inversion. There's the same pattern that we're looking at, the inversion of the falling ax. Then it ran sharply to the 41 area. It plummets down to 29 and is now trying to stabilize. Remember what I said? The 200-period moving average was such a support and then it became such resistance at 34.25. Now what it has to do is it has to see the nine-period cross over the 14. It hasn't done that yet in the daily chart for the GDX market vectors gold minus ETF. And it is able even to get to the 33.58 level all there for a little while. There's a good chance that it's going to be able to try for 34.25. Put that together with the DXY which is the dollar index and the dollar index is down 26 ticks at 101.82. Not a big deal when it was at 105.01 just the other day because it's had such a spectacular move going all the way from the 90 area to 105. Now it's under duress. And if you look at the EURUSD which is a euro-dollar currency pair that is a strong move. That in fact has got the stochastic almost at 80 percent. 79.32, the MACD is good and the nine-period moving average is within a day or two of attempting to cross positive. And that's the same to me that after the spectacular move this huge arch formation formed in the in the euro-dollar currency pair from the 1.063 March 2020 low to the double top of the 1.20s it came all the way down and broke underneath and then you have to wait. This is a weekly chart. You have to wait for a buy signal to go to a buy mode. We haven't yet got the buy signal in the weekly chart but it has gone above the left side low of March of 2020. That's the first time that it's done it with conviction. That's today and the week is Tuesday. It's not even, I mean we're barely into the week. So let's wait the full week but it's saying to me that there is a change in the context of the different currencies and if you're looking at the peak G that was made in the doji candle in the US dollar Japanese yen on the 9th of May at 131.34 we're down to 126.52 we're in a sell signal in the daily. That's all we get and a leg D going to a peak D in the weekly and a leg E in the monthly and that just says the dollar is probably going to be under pressure. I don't know how much gold would actually move to the upside but definitely it's formed the base and it's got key support and I think that there's a good chance that gold is going to at least hold very well but you need the GDX then you need the gold miners to participate. If you're looking at the XLF had a very nice session yesterday fading now at 13.32 not good. There's the arch formation in the weekly chart. This is just not good action at all. So there has to be select spider fund I did the SMH's let's go to the questions have come in. Oh, yes, could I look at the IYT the transports transports horrible session today down 6.34 to 18.58 to 16.06 was the law of Friday. This is not good action in the daily the weekly or the monthly in the in the transports. So the question came in what about the weekly chart of the Dow where are you where what's your stance and the answer is I have to still consider that it's trying to form some kind of a base. The Dow is the strongest of the different indices and I'm using it just as a benchmark to say that within the context this is what we usually for the subscribers we usually are trading the diamonds or the DOG one of the long over shorts and this particular instance we are still long the diamonds I believe I don't want to talk out of turn and you just see I know I don't know if we are still in it because I changed the parameters. So within that context all I can say is I'm not the reason why we've got this big amount of cash is because I do not like the market at this particular point I didn't like it for a long time but I don't yet want subscribers to be putting a huge amount of work money to work at this particular point just keep it as trades more importantly what we're looking at is if there is a failure today into tomorrow Wednesday the Fed speak day by the close of tomorrow I think we're going to get a tremendous amount of information over the coming two days why because look the QQQ has in fact now it's gone for even longer it's maybe got another 30 minutes gone halfway below the WIC that's under 185 the WIC of Friday it's there let me just look at the 120 minute chart that'll tell me a little bit more yep there it is so this is now all of this candle no I can't do that I have to go to the 10 minute chart can you let's see I'm going to move back to you I just can't see everything at the same time is this a new one 1037 a break is there another break coming just let me know please so what I'm looking at is in the 100 we did the 120 we'll just go to the 10 minute chart if you're looking at the what are we looking at we're looking at the no we're looking at the QQQ yeah look at this the Q's have been under 285 for in this segment it's got to be 1034 but this is 1010 I'm going to give it to for 11 11 use this as the last 10 week 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. 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When you subscribe, you'll get a weekly report from veteran day trader Larry Pezzavento 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. 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. We're back. Basil Chapman, Tiger Technicians Hour Delta 477 and this is the uglyness that I said I didn't want to see because it looked as if we were just trying to form some kind of a tradeable load. It might be, it hasn't taken enough loads of Friday, but this is a very ugly action. What we're looking at within the context of there was a PD in the 120-minute chart, yes, but thank you very much. All I'm saying is that I still believe very strongly that cash is king and that you will be able to put it in. Let's say you missed the exact load. Let's say the dow is off 59 points and now you've got one. This is a big deal. You get the trend to the outside. You start to put money here. If you're wrong on the downside, unless you have very tight stops, you're just doing trading. You can sit there and go to another 10 or 12 percent of the downside, but no one needs that. Just as I said, now what I am impressed with, we had Amgen, we were out of Amgen and this Amgen has helped so many of these policies. This is a leg B, trading up one at 50.04. If you're going to jump back in, just didn't do that. Now what we're looking at, if you're looking at Merck, Merck is above this in leg D at 94.04. This is a sector that's been really, I'd like to say on fires. I like to use too much markets. This is where the house is in. We will fly recently. This is really wonderful action for the PPH, which I believe PPH is. In fact, this is the pharmaceutical. Oh, isn't that interesting? The fact that the pharmaceutical PPH is not doing anywhere close to use well as some of these things. So it's sector selective. You've got to be careful. I believe that oil is good, very well. It's good for the eyes, back and forth. It's good for the ears. It's good for the nose. It's good for the mouth. Happy.