 The following is a presentation of TFNN the Tiger technician hour with your host Basil Chapman call now toll-free at 1-877-927-6648 hi everyone excuse me Basil Chapman here on this last trading day of the month March and we're looking at the Dow this is the 31st of March we're looking at the Dow and this is I'm coming in late 1030 had some computer problem well program problem and I was able to get it resolved and I'm back so thank you Tommy Jr. for that full-in repeat show there we go the Dow is trading right now let me just run these down because what I really wanted to do because it's the end of the month it's really important I want to be able to do the show to say the Dow is in a buy mode the buy mode essentially says that you've you are now in a position to make at least four higher peaks peak A is the first peak B higher high peak C is the next one peak D is the next one four higher peaks to fulfill the buy mode requisite you can go higher than that but the target is at least for four higher peaks now what we're looking at wise uh-oh I said it was resolved I hope it's resolved I in the U there it is okay we're in strong legs see above the 200 period exponential moving average up 171 we've been adding to the to the long side of the Dow for at least the past couple of weeks taking profits and adding again we're back we did that Wednesday we instill in that long position three times long the Dow besides being the diamonds and the and the three times long earlier on from October so here we are at 30 207 and the reason is that all the technicals that I was looking at seem to concur that that there is a bias right now that says upside action is needed to resolve this rectangle formation in the Dow the weekly chart that says you've got to get back into that that rectangle that's normally what you do you break down under it in the H pattern then you get back in well so far we're doing that and I'll talk about the other things as we move along so s and p now this is going to be fascinating because the s and p is a little ahead it's in leg D but you remember we spoke about the chapter wave falling axe formation that's a declining cone formation from the 4195-44 high in February we made lower highs and much low lows and all of a sudden you make the v-shaped formation and the pattern said on balance funds turned up stochastics turned up MACDs turning up still very poor in the 9 period moving average under the 14 but this is a start of a move up and if it can break that chapter wave inside track repellent zone it becomes a prop repellent zone and you look at each left side high to say is it are you able to accomplish that because you should make a one-to-one to the upside and a very conservative adjud from the low to the trend line resistance and then I don't go from the trend line resistance up you have to start moving up decisively before you can actually use that technique but now it says that by the 10th of April it doesn't say it has to be on the 10th doesn't say it has to be off it just says in this particular move in the chapter wave resolution of the falling axe formation where it breaks above the upside as it takes out if it can take out each left side high look the left side high on the 6th of March was in the S&P was 4078.49 and here we are 4074.42 days young is able to break above that I want to see that in leg D that's really important but then you can say over the coming days it should tackle and this is the one-to-one the conservative one-to-one is 4094 but it also says the 200-period moving average of 4002 is extremely strong support okay and the weekly chart from that rectangle formation we're in it that's really important and you can see that the the MACD is stochastic and on balance volume all very weak and the 9 is still under the 14 a lot of work to be done to get that into a buy a new buy mode or buy signal all right let's go to the QQQ because this has been showing some leadership here it's up 0.62% today that there's a 0.54 S&P down up 0.57 we're looking at $1.95 at 317.64 in leg C but breaking this cup formation a close three closes above this the 313.38 high of February would be really important and say that you should still go higher to a leg D because that's the requisite of the Chapman wave buy mode looking at the IWM which has been lagging lagging now it's a little bit of a leader on the day up 2.40 at 177.57 it has a long way to go to get to even the 50-period moving average of 180 up to another two and a half points I say a long way to go because it has been lagging so it'll it'll need to rejuvenate but that weekly chart is not bad wait a minute why is this not oh man this is something new now let me do this see if I can get that to work out oh green so why didn't it move to the IWM IWM in the weekly chart oh have I got it each one by hand what no okay oh we're back okay good now let's go to gold now this is really really going to be a very important moment for a number of aspects that includes the financials because gold so far has been in a sense the go-to place for the financial crisis is being the go-to place because it's on its own is being doing very nicely yeah it is GC oh now this is not working man I tell you I I'm sympathetic to when when Larry talks about his tactical problems I just it tries me bonkers okay gold is down two and a half at 1996 stuck in this little rectangle formation now what's really important about this is that if you look at the weekly chart it's got a leg D with a long leg of doji candle and there's a lower high so far so if I if I was doing just pure chapter wave analysis and say forget about everything else what are you looking at I'm saying gold is stuck it hasn't been able to use the last two and a half weeks almost three weeks to push to the upside and to break to a new recovery high yet it hasn't broken down that weekly chart is it it's holding very well all the technicals are pretty good but look at silver now silver is going higher is going to a leg E in the daily chart am I going to have to do I now have to call them again oh what can I say I used to love trade station but lately it's been driving me nuts and I don't know if it's my my issue it seems like it was there she actually uh si okay so now that the week in monthly are moving in sync so look the v-shaped pattern in the weekly chart of silver is really very good monthly charts improved a lot the daily chart has got this left side high that was made at on the 2nd of February at 2488 it's trying to tackle that it's a 2412 so that means that the over the metals themselves I'm talking about gold and silver are forget about gold pulling back a little bit and also not being able to break your new high you remember they play cat and mouse so that when gold is running silver sometimes stands still looks around says hey gold's going I better catch up and then gold starts silver starts to lead and gold says you know I'm kind of tired I'm taking a break and they both pull back so it could be that we are really close to some kind of a consolidation in these metals just in the short term you look at the XLF the XLF the finances and I'm using this as a relationship as a go-to place for safety like insurance gets gold but if you look at the XLF it's off the low but it's really not doing much I'll be back in a moment Basel Chapman this is Friday the 31st at 10 38 a.m the dial is up 157 you'll be right 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 Basel 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 and stock prices get the opening call newsletter by Basel Chapman and 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 markets 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 everything was working I got this low at the bottom I thought is there you know I like to talk about two quick sessions sometimes it's a four quick session where you can click early in the morning I wasn't up at 4 a.m. but certainly at 6 a.m. I was up about before little before six and I was looking at this 10 minute so I decided that I would treat this as a chap away phantom peak in the 10 minute chart right there because there were two highs that were exactly the same and because the S&P futures traded quarter points if it was in pennies I wouldn't necessarily do that but it's in quarter points I said I got a little blip in the in the on-balance volume I'm going to use that I want to be ahead of the game and lo and behold that would have been ABC and then that big spike at 8 30 whatever the news was economic news gave you that D and then it pulled back but look at this from that crossover right there at 5 10 this morning and the S&P was between four let's call it in the 40 80s even to this moment you're now 20 something points above that at 4104 9-period moving average hasn't closed now I would have thought that there would be a good rally I was expecting in the chap wait let me see if I can if I've still got this notation here yeah in the in the in the 120 minute chart right here there it is so there's that move that I was expecting and if it went through all these chap wait automated resistance levels or I show my subscribers to moping and calling every day there's a doubt daily with just a few moving averages plus my notation yes and I'll put in whether we've added or not to the position the position this is with the chap wait for automated chap wait resistance levels green these green numbers here and the cyan light light blue ones here are support levels 120 minute and this one has MACD stochastic on balance volume as well as well as the automated notations this one has the automated notations plus but I don't I don't do anything else other than put the notation in and then I'm typing at 20 120 minute chart at 328 59 that was yesterday as closed with chap wait support resistance levels and what we were looking at is let me just go here to this so obviously I'm going to run out of time today but I really wanted to do a bunch of things I got questions one was about um oh actually a number but one was very important about syntax which I discussed yesterday and I said that syntax is acted so well oh I bet I lost it because got shut down oh it's there okay good there's much every notations so this went to a peak C and it's gone to the D and what I said to subscribers I'm anticipating a spike above to get me to that D and then we might pull back later in the day my thinking was so that would be two two clicks one click for move up and then as was this 100 wrong chart oh this is going to be terrible now I have to call them again oh third time today let me just type this in here that's not syntax I mean that's not the Dow industrials there it is oh yeah I have to do it over again so that was peak A B C D pulls back and this is peak A B C and I said we should get to a D and then we'll see if a little later in the day because of the weekend because of Monday coming up whether or not there's some kind of a pullback well lo and behold here's the 200 period moving average look how fantastic that's been resistance we're testing it once again the MACD this time is holding before it turns around immediately with the stochastic reference stochastic above 80 percent is great above 90 percent is fabulous about 95 percent is exactly it's just ideal you can expect at some point to start to come down but up until then that's fantastic action well when it goes just for five or six bars and then goes back under 80 percent watch out you got yourself a sharp move down so far this stochastic look like it was going to do that yesterday and today it's holding very nicely at 87 percent so it would still be a two click session with one click if I had done it thank goodness I did not know what I would have done but oh no no it would have been on a different system it would have been fine but I wouldn't be able to monitor it as closely as I usually do so in this particular instance until I get a signal that says we're going to reverse that would mean that you could hold one position click to go to take take it off and at this particular point there's no now I'm going to have a problem with this is that right yes so let me do this I got I got to the gold I got to the silver I want to get down to the dollar the DXY where's it going to show up is in the show now it's on the 120-minute chart and nothing and I've got silver on the weekly down on the monthly all right so this is DXY I'll fix this up a little later on it's a very simple fix but I can't do it right now so DXY the dollar is down was down from the high of the day it's up six cents at 102.24 I think the dollar is ending week but until it breaks it's until it really starts to close two out of three days below 101 say 93 100.82 will be the key support that I'm looking at and that's going to be really important to monitor it doesn't look like that's correct it looks like it's am I right below should it be no 100.82 oh oh 100 that's what it says 100.82 so so 101.19 close under that area that would be your target and it should get there about Wednesday or so next week now what we're looking at is TLT I didn't finish that I'll do it just on this chart have I got everything oh I've got the monthly so this is the one that's failing okay TLT TLT there it is so I just think that at this particular point yields in a sideways trading bet I don't think they the issue right now that's number one number two is the TLTs look at the TLT and look at the TBT they're kind of trading places within a range and that range can stay for a little while but if TLT which is the iShares Treasury Bond ETF if it takes out 2590 as support it said what am I talking about yeah there's a TBT if the TBT takes out 2590 that's going to be a big problem and that'll say that the TLT is pushing to the upside and taking out 110.30 as as the resistance questions came in so let me just do this quickly CTS I thought I'd everything resolved it isn't so there's the weekly for Sintas Sintas is trading at 465.25 and the reason why I make a big deal about this for decades is that Sintas is overalls uniforms rentals it's telling us in no uncertain terms that they are still doing very well they gapped up and they're holding the gap for the last two days since they gapped up they took out the high yesterday and now they're in the in the top part of the range this is this is good so when when when you think of the Fed the Fed is looking all this data they kind of stuck they really are kind of stuck so my my thinking here is that they've got to be thinking quarter point we've got to stick to our our routine because that's what you got to do but I believe that when all the data start starts to come out in the next month or two you'll see that the jobs start to come down drop drop rates coming down there less people being employed and that's that's going to be where that's really what the Fed wants to look at and inflation if you look at the DBA which is the agriculture this is the DBA agricultural fund has been doing really nicely it's at 20.38 so even there it's kind of a big message for the Fed I'll be back in a moment for the last segment of the day TFNN has just launched their new trading room the Tiger's Den hosted at Discord. TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours and now they are expanding their reach with the Tiger's Den available to all Tigers and Tigris for just $1 for the year there's no catch or added costs when you join our community of traders in the Tiger's Den you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas interact with other Tigers and Tigris as they share trading ideas news analysis and discuss the market action all trading day even at night and on the weekends the Tiger's Den at Discord is accessible on mobile or tablets as well so it's always at your reach to sign up today and become a part of this educational community of traders just visit the front page of TFNN.com 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 everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the Fibonacci 24-7 newsletter at TFNN.com 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 so folks during the break I answered a whole bunch of questions in the den I can't see the um the tiger YouTube um okay YouTube okay so uh SLJ Jr. this is silver jr. a b c d e a lot of them are getting to a resistance level so a lot of the the gold stocks are just they've had the small ones have had fabulous moves they've had like 30 to 45 or 50 percent moves there were even more to the upside but the bigger ones are actually doing very well but they're not having the same percentage so i'm looking at the some say we're getting really close to some kind of at least a digestive phase in those in the gdx and the gold stocks themselves so let me just do this as we're about to wrap up because you're going to go to Steve Rose a recorded program coming up and then of course great program for the rest of the day live programming and Tom wraps it up and Tommy Jr. starts us off at nine great program check up my opening call my dating user as i say we're still long we've added too long in the dow we've got some other positions that are doing very nicely so this is what i wanted to say in the volatility index and i'm using this only as a clue because i'll get it don't worry i want to i won't say oh anymore just do it right we are uh v i x dot x there we are so in the volatility index way down in this this pyramid pattern we are getting close uh in 1875 just in terms of the unbalanced volume we're getting close to at least a little bit of a rebound so i'm suspecting that this is what i'm anticipating the dow cannot make a peak d until wednesday in other words you can have a lower high on tuesday on monday to give a peak c then a new high on recovery high on tuesday for your d wednesday you pull back the s and p is exactly the same thing so on a very short term i'm still because i'm still looking at this very positively most importantly the fact that you've got the the s and m h is having led to move up they're a little bit weaker today the option is very important and i i like what i'm seeing right now have a wonderful weekend check out both people thank you for great programming and i will see you monday