 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 Internationally at 727-445-1044 Now Basil Chapman Hi everyone, Basil Chapman, thank you this is our and let me show you something quite interesting here because The manner in which the Dow broke out on Thursday Had a long-legged doji on Friday Making a new all-time high today above that high of Friday of 28 to 90. It's the high today so far as 28 337 and if you look at let me just do this right now And if you look at the automated Chapman wave resistance levels, we've just punched right through look. This is the E-mini 3192 to 3192 resistance. It's gone to 3198 the Dow INDU The Dow has resistance right here 28,271 228,240 and then up at 28,479 the daily a whole bunch at 28361 To 28 all the way to 28591 automated resistance levels I'm suspecting that when we get to a leg C and then a D It's kind of the top that we'll be looking at at this particular point, but wow 200 points When Boeing itself is down what is Boeing's come back a little bit Boeing was down 14 hours down 11 330 yeah, they just have terrible problems S&P S&P cash itself. This is not the E-minis the cash has got 3183 And then 3206 and we're trading right now 3196 393197 has been the resistance and if you look at the weekly we're powering right through that It is really powerful when a price goes through a bunch a cluster of resistance levels or goes below look what happened Yeah, look on the left side. Look at these cluster formations in back in 2016 in the monthly chart of the 21 27 to 2249 level just a ton of them And look out. Well, it was resistance until it snapped through it. So I gotta respect that and I've got to say This is showing a lot of strength and one of the things I was looking at and mentioned to Subscribers over the weekend to my opening call is that The daily chart The nine beard expedition moving average was just about to cross negative on Thursday at the close and then Friday it gaps up And now look what's back and never even got to the even with that horrible action came from 28,146 to 27,325 Not nothing and now it's a thousand over a thousand points higher than that So you've got to consider that this is internal strength and therefore I have d slash b here But I say there's a real good chance that we're looking at a b a new leg b at this particular point And that's only three up in the chaplain wave methodology chaplain wave five methodology And here you can see the automated resistance levels of 28,479 next and as I say, this is still only leg b and Magdi just crossed positive today First time since it turned down since that really ugly turn around back on the 27th And now we're looking at the stochastic Improving to the 82 percent level. That's really good. This is what I show my subscribers every day Let me show you a little taste of what we're doing. So which is since you've got the special bonus here at TFN for subscribers For you for you to be able to Either continue subscriptions or you'll to get new subscriptions with all the different Here we go with all the different Products that we have here at TFN. So I'm just going to get this down there. So this is what I was showing for the For the 120-minute chart saying that there's a good chance that if it takes out but there's 120 I do this every day explain what we get what's going on here And where the doubt needs to be holding After 1 30 this afternoon to be able to say that it can continue higher I was expecting later in the day to see some selling. I don't know if that'll occur But that's what I was anticipating Based on the chart formation here and this is a 120-minute chart And here's the 100 and let me just move this away him so you can see this and write That's 120-minute chart. Where's my daily chart? Do I have my daily chart? Disappeared Scrolling across. Oh, you know what I ran out of space there. So it's got a little squashed Um There it is. So here's the daily chart. There's this long-legged doji And I say that there's a real good chance if we can take out this high in the next day or so This will be a b and we'll start leg c And you can see the bank d hasn't got bank d close to crossing positive hadn't yet and it has now So that's kind of thing that I do plus I showed us different charts of all the what we're having What we have in our positions Our cyber cyber arc, which we've gotten in the 104 level taking a few little tranches off Actually hit 126 on friday's doing very nicely I was wrong about the smh's they just broken out. They just sort over the last couple of days Something that's going to be very interesting is that we I have to apologize to subscribers. There was a position that we did get friday pre-market I I was just so busy. I had a little trouble with my with the with the internet I was actually with the program itself So I I missed I missed out updating that and then I forgot over the weekend to revise that So we did get a position in a very low price stock and it's doing nicely And if you didn't get it, we still have an hour chance to to get in if it pulls back because it's acting very well And that bank of america, I can't believe this bank of america When everyone was talking about the banks as being just non nothing they I kept hearing people say Oh, yeah, they're okay. But with interest rates and all that just forget about the banks Look at this bank of america. We're in a year ago in the 24th is trading right now to date it's 3509 We've taken some we've got a small position that we've had it as a trading vehicle periodically Hey, this is really nice action for for a financial bank of america I mean, this is this is really good and Some positions be still trying to get I do like the commodities. Let me show you this Oh, wait, this is I did larry show earlier on so I went to all the different charts So for a moment there I kind of forgot that I need to review those So let me just do this real quickly indu They are down bumping up against trend line resistance right here acting extremely well I believe this is new leg B and the chapter weight methodology And we just give you this we're always looking for at least a D in a buy signal to buy mode Which I believe we're in a buy mode now So that should go to four higher peaks You can go even E F and G but D the fourth highest peak is our objective And then we do an analysis to see if we can recycle and etc But we're only looking for straight up straight down straight line moves arches and cups and a mixture of the two So, um, lowercase h or the reverse y is what we look at. Let's go to scott in safety harbour scott. How are you? Oh god, so what what what a Three or four weeks here basil. We had a huge day on x three weeks ago. It dropped back to The 1250 I grabbed it and then it went right back up to 13 60 and I jumped down and it was fantastic And But it now got me perfect for the first time. I think it's recalibrating Yeah, but just started we're about to go to a break I don't want to cut you off. I just want to say hold on We'll go on and straight off to the break between about here is steel x is trading down 34 cents at 30 30 If you're not currently using the taz profile scanner when looking at setting up your trading opportunities Then your arsenal is short a mighty weapon The taz profile scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks etfs commodity futures and forex Headed by steve doll taz understands that in today's technological world the use of top flight software applications and technical analysis Expertise is essential to successful trading in today's market You also gain access to the webinar that steve doll and tom o' brian just hosted The best way to use the taz profile scanner to profit this webinar archive is available for all subscribers Immediately upon signing up all new subscriptions also come with a 30 day money back guarantee So you have nothing to risk start your subscription by visiting the front page of tfnn.com today And you'll find the taz profile scanner under the services tab sign up today 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 from the price You should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of Creating tiger real estate can help you make the best decision when it comes to all areas of the market Before you make one of the biggest decisions of your financial future call tiger real estate llc today at seven two seven three two nine eighty three twenty two or email us at tiger at tfnn.com That's seven two seven three two nine eighty three twenty two call us today Many of our new listeners have heard about the tiger's den The tiger's den is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere Hear all of the tfnn shows plus see all of the charts as they happen live and have access to archives of all of those charts You can test drive the tiger's den absolutely free for 30 days and greatly enrich your knowledge of these markets And how to make your money work for you details on the tiger's den or on the front page of tfnn.com tfnn has launched our brand new website You can still visit us at the same tfnn.com URL But when you do you'll see a new and improved homepage with a much simpler navigation Whether you're watching tiger tv live in high definition or just accessing your newsletter subscriptions We even have new pricing in six months and yearly options Check out the new tfnn.com now and experience all the upgrades tfnn.com educating investors Toll free at one eight seven seven nine two seven six six four eight internationally at seven two seven eight seven three seven six one eight I don't want to go back fuzzle Chapman tiger traditions out guys up 181 as a piece of 28 we are on with scott in Uh, let's see. Well, I wish I was for safety harbor, of course Down 30 13 point 37 down 34 cents u.s. Steel. So scott, what are you doing? I'm trying to figure out u.s. Steel at this point. I mean, it's been an atm I've made over 100 000 on it and six weeks It's just been fantastic for me. But I just feel and you know how I can really you know kind of Get tight with these certain stocks Uh, I feel like it might recalibrate now for some reason And to the 12s and have a different trading range. It's been from 13 70s to the 14 30 i've done seven trades on that but it's just it's just something's different. What do you see? So I tell you what is a little different and I was looking at this uh for about the past Week or so I've been looking at it and saying to myself I'm looking at other areas in the economy That have been doing very well and these are infrastructure stocks And I thought that there was a chance That we would get information on u.s. Steel because some of the other steel stocks Let me just put this in here s lx is the actual symbol for the etf of the steel sector Um have done very nicely So the way I looked at u.s. Steel There is something going on in the shorter term And it might be more than short term. I don't know yet, but if you look at the steel you look at s lx aks got a takeover offer and said absolutely fabulously n u e I think that's new core n u e's new core new core Trading very nicely. So u.s. Steel is the one that's kind of I can't call it a lag at going from 10 to 14 40% gain is not a lag at But in the monthly chart it is just not showing the strength that I anticipated in this particular time So I I'm kind of saying to you I think you're right and I would just treat it the way you've done I'm look you're the one that's done really well with u.s. Steel So I'm not going to tell you how to trade it what I am going to say Is that the 50 period moving average is at about 13? And then you get really important all the way to 12 50 you get very important support levels My my eye suggests that at this particular point, especially with it being down 2.65% today u.s. Steel Something is different and therefore and that weekly chart. There's nothing really wrong with the weekly chart But it is just tipping a little too. I mean if it goes under 13 30 13 15 I think it's got a problem. So I'm going to suggest that you kind of Hypnotized by it And I think my wife sometimes out of the mouths of novices or babes, you know comes comes wisdom the other day She said I said something about u.s. She it wasn't it wasn't at $10 a short time going in to kind of snap me out of it thinking wait a minute 40 this is almost 50 In a couple of months. So, you know, what if for instance apple, you know $200 And and now it's 300 350 I mean sometimes on the lower stocks. We don't realize the percentage But that's a huge percentage and I think it's spooked a little a few of the buyers That's a very good point. So Scott what I'm going to say to you is use your instinct Give it a little bit of a breather here But I would just say to you based on the 120 minute chart Let me just get back to that because I was looking at over the weekend. Yes If this starts to stabilize at about 13 25 13 18 And you see strength you could do one more Quick upside bounce, but I would just treat it as a bouncer this time. It looks to me like it needs a little bit I've drawn in the rectangle. If you look at my chart, you'll see between 13 78 and I would put it at about 13 and let me give you an exact figure at about 13 1281 There's a big congestion area. It keeps coming back. Why don't you wait as you've done before? Let it get to the lower range and then you can treat it as ready for bounces Because if it takes out that hold 1280 to 1250 area over the next week and a quarter I think it's got a problem. Something else is going on. Hey, but congratulations. You've done this very well Thanks so much for calling and let me know how it goes I appreciate it bowser, you know, even even with plants I mean if a fruit tree grows too quickly or or a tree they use for wood grows too quickly What happens the product that produces is is not as good It's a little more fertilizer and a little more time But I do think it's stable, but I agree with everything that you said have a great holiday Thank you you too scott. Thank you for calling So folks are just there a couple of things that I promised that I would go through I let me just see if I can get this right now. Let me just go to my e-mini chart It's in this rectangle formation in the 10-minute chart. That's not what I wanted I want you to get to I hope I can find it. Is this 120-minute chart, please? No, but it's not This is my two I did I had a question over the weekend Would I be able to go through and send over? My my e-mini 120-minute chart and I did it and I have to just try to find let me just check it out Give me one second window More windows look for the one that says 120 minutes 120 120 300 notes 30 60 going once going twice 100. Oh 240. That's what I wanted. There it is There it comes. Yeah, we go So let me just check this out and I need to see where I write this down Oh, gosh, where did I put it? It doesn't matter. So the question is could I could I show it? So this It's a little unusual In that we've got a gap to the we've got a move to the upside Which could essentially be starting something else So what I see it is I would show the chart just any picture from I will send it on But this goes back to the the low that was made on the 9th of october at 28 81 0.75 Now you remember I always look for peak d's, but you can go higher But d's the the when you get a buy signal d's what you try to accomplish So we've got one buy mode that went to a d but then it went up to an e pulls back Then another one that went to a d then pulled back went to e and then an unusual Chapman wave right arm extension And it went to an f then pulled back that are very quick abcd And then there was a much more complicated one that went to a d pulls back goes to an f So it just keeps going so I had one two three four five six And then this huge g that was made right here on the 27th And then the on the on the second you got the gap up to the all-time highs in the futures At that point you didn't get it in the cash indexes. So the e many future goes to 3158 round number high and they really careens plummets down to the 3069 50 level On the third and then starts another buy mode that goes to peak e pulls back Oops, I forgot to put that up arrow in Right there now it's going to an e now the question is have we just started a new buy mode Or is this an unusual leg in the 120 minute chart and f and then you've got to get some kind of a pull back Before you start another one. We won't know but everything here is so very very positive right at this time So I will send this chart on And then I'm going to send the chart that goes back Right here. Let me see if I can go back further right here There it is right to the low that was made on the 25th of august Around about 28 20th somewhere around there and all the different peaks and troughs And the very sharp move to the october 4th low october 3rd low And then we started another rally So i'll be sending that maybe it will be two or three different charts that i'll be sending on I just thought I said I would also show it in the in my show And here it is now the big question is where I'll be here and I'll I'll get to that as we come go through the show Basil Chapman dials up 178 s and p's up 28. I'll be right back Since 1984 Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion While originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply Later basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy And calling price turns as well as market trend calls Thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter Right now you can get a two week free trial to the opening call basil's daily trading newsletter by visiting the front page of TFNN.com Cancel at any time during that trial and pay absolutely nothing get your two week free trial to basil's newsletter The opening call today by visiting TFNN.com The path of least resistance is david white's daily trading newsletter And if you're looking for active trading ideas then now's a perfect time for a 30 day free trial to this powerful daily trading advisory service David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter Using a combination of equity trades along with options David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted Don't miss out on this great chance to get a 30 day free trial to david's daily newsletter The path of least resistance with no obligation to pay anything David has been delivering solid recommendations for his subscribers recently And if you'd like to see the type of newsletter he delivers every morning Then visit the front page of TFNN and you'll find the path of least resistance under trading newsletters For all the details and to start your 30 day free trial today log on to TFNN.com now TFNN is excited about our new software charting program the art of timing the trade charts In collaboration with tom o'brien and using his best-selling book the art of timing the trade your ultimate trading mastery system David white has programmed an outstanding piece of software that will complement any trader's methodology Using this first of its kind program the art of timing the trade charts allows you to scan thousands of stocks for fibonacci formation setups Including guardleaf 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 charted software that will even give you a 30 day Unconditional money 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 Hi, so sorry Jason. That was the cash you wanted to do it. I'll do the cash and send it on to you I did the E-mini the There was a pity that I did that because it's going to be wrapping up in another couple of days We're going to go to the next contract, which will be March. It doesn't matter. I need to do it on the S&P I would have had it on the Dow, but that's the question. I like to for subscribers I like to try my best to be able to fulfill the the question that they asked So this is leg B in FLDM 0.01 and 317 didn't even notice the price. I just looked at the pattern. This is Fluidime Corporation I had seen this one some time ago because I thought it was Fluid Dynamics But it isn't Fluid Dynamics. It's something else I'm looking at it here. It's made a peak C in the weekly chart From the July 2017 low all the way to early 2020 and then it failed and it's come all the way back now So this is the one so let me just talk about this for a moment We're talking about a $3.17 stock This is for a moment to imagine that it was $31.70 That would be More appropriate to what I'm going to talk about but the pattern doesn't change You see this gap everything was going nicely and then on the 5th of November it closes at 511 after hitting 520 next day it opens this is it opens At 350 so it goes from Oops right here. It goes from a close Of 520 and it opens at 350. Ah, that's not the story The story is it then gets cut by a third from that level and goes down to two dollars and 34 cents On the 6th of November the same day and then it goes sideways with slightly lower lows And then it makes another low a decisive low on the 20th of November at 2012 cents So I just want to talk about this not as a stock the question the den was is this Where did he go? FLDM Flu Dime Basil do you think this fills the gap or returns to the bottom of the range? So this is the way I'm looking at it When you see a gap what I love to do and then the trade station software is just so nice You just grab that with some other software packages have very nice drawing tools This is their thing has been drawing and programming So that's what they do very well So the high that was made on that day that it went 350 was the high of the day On the six that's the rectangle high Of the price but lower the rectangle because that's the gap And the gap low of the fifth of November And at 503 so let's just say between five and five fifty and say five and 350. That's your gap That's a huge gap I just wanted to mention that whenever I see this kind of price move and over a period of weeks This is a very this is a rectangle formation and it has already towards the gap low So the gap high That would be 350 and then maybe pulls back but it goes into that Gap and then starts to trade there and the next thing, you know, you forget about it You're looking at it like three weeks later. You're looking you say, oh my goodness Not only did it fill the gap, but it's gone to a new recovery high but below Not not below the Below the bottom part of the rectangle But maybe just a little bit below the upper part or even higher above it in this case It would be the high of the fourth of 523 That's spectacular action So I can't answer that question now because we haven't even gone into the gap of 350 the high today is 326 It's trading at 316, but I like the MACD. I like the stochastic at 92 The monthly chart is the weekly chart. So he has just seen the MACD This is the first part of the week. So we can't even talk about it as if it's Friday It's just the beginning of the week start to cross positive stochastic is rallying. It's not flat. It's running at 16% I like this But I would just say to you and this person likes the longer term positions If you wanted to start a position here at 316 I would just like nibble. That's a $3.16. I wouldn't buy more than 100 At this particular point Because I need to see three things one is that if it pulls back it doesn't close under the 14 period moving average of 284 because if it does that then the weekly chart says nah just sideways trying its best to form a base Nothing to see longer term until you really get a breakout number one number two is If it pulls back here and then makes a leg c and that leg c takes you to the 532 level 352 level so I got the mix that was mixed up That's a really nice action and you're in it because what I would do then Is if it pulls back here and then goes one penny above the 326 higher today If that's still the high of the day and you make a peak b because it's a little lower just a little lower tomorrow That's where I add another position a little bit bigger But not overly just a little bit bigger And that's the position trying to make the 316 or 315 entry right now Not necessarily a call but a call with a stop. That's a little bit wider But the new position can't have a very wide stop And I hope it isn't complicated and the reason is that if over a period of time this suddenly starts to get to four And it hasn't broke under 230 or 220 hasn't just broken down. It's actually moving higher When when people finally realize that they were all getting out Look at the volume on the day of the now And this is a question that should have been asked and it wasn't asked Is the volume is this a chapter way volume reversal climax Session of the 6th of november that says you can go 28 bars without 28 bars Without testing the low No, it's not because you've already broken to a lower low you went lower You should have any way more volume on that lower. So that doesn't fit this category That would have been the question nobody asked it I I asked it because I have all these questions on the chaff way of methodology. So that's a question So that's so the two things now the third thing is You start a little bit here at 316 the next thing, you know, that's all things are 3 34 And you say wow, I should have had more than 100 shares now No, this is this is a this is a stock that's been clobbered and it hasn't shown yet the kind of strength it has Technical daily strength but that weekly chart is still very poor. So you need to be patient at some point I suspect if this is gonna go much higher And there is a test of the three area and it doesn't break under that in the next the whole week It just doesn't break three But it's making slightly higher highs and higher lows then I'd say great So just a little get and just give me a yell, you know, text me or in the den just say what's happening If I see that I'll answer you but right now it's a good. I you've got the right idea But this is as I say, this is I think this should be some kind of infrastructure Fluid dime. It's in the fluid. Um, who knows? But other stocks that are in the area Um have done very nicely and actually have done surprisingly well and says to me That's the reason why I was saying to scott that I don't know quite what's going on with you Is still because that is part of the infrastructure. Okay. Next thing we want to do is question. Oh Did I just answer that for for sure with the 120 minute chart sure It's on the s&p cash. I did it on the s&p futures I'll do it on the cash and take me a little while I might get to in the next day or two I know there's no rush, but I will get to it. Um, it's a good question and and the way you pose the question I like that. So I will do it. Next question. I had for myself is um, so Eurusd looked like it was having a great day on friday, but it closed terribly by the end of the day Today it's an inside bar and this is saying to me. We aren't quite done that I I think that the I don't know if there's a concerted effort by the fed to have the dollar come down I suspect that this is just selling It's kind of european selling or international selling I don't feel the dollar is holding well I think the dollar in the end by this time in three months in three months time I should have said I think the dollar could be back in the 98th If you're in the cd market and looking for a secure investment The tiger first mortgage program may work for you The security for these first mortgages are building lots in the tax opportunity zone in st. 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Okay, so that's a little different because If it hadn't had that gap, I would say hey the way it's moved. This is I mean, this is definitely One of my screamers. Look it's gone from 250 to 3 to the height of 326 In just a few sessions a green candle green green green green green but That gap is as an issue. There's a reason why there's a gap. So I don't want to mess with that Okay, a couple of things that I want you to do is Um, I wrote it down one thing at a time Yeah, so investor business data that was stocks that they thought were absolute five outstanding stocks So adobe gaps up great great earnings and gaps up and it's a 322.89 Um, it's a stock that I keep a good eye on I should actually have handled You know, it had positions on for subscribers in this because it is something that I've watched for a long time my my son the company that had worked for was Was taken over by adobe just Like a couple of weeks after he had left it to go to another company the private company And so I was following it and now this is only leg b in the weekly chart legs see in the monthly adobe cloud digital commerce I mean, I don't know what they're not in In fact, the CEO was on the other day. I heard him and wow, I mean they have really Let me just show you this let me just go back here adobe So I'm going to squeeze this chart. This is a monthly chart. I'm going to squeeze it back in Little too much squeezing there back in 1999 december It comes public now. This is with splits and everything so I can't really say but this is the price that I've got here is It opens at 16 14 dips to 15 47 and has a high of 17 97 It then rallies all the way into November a year later in november it hits 43 66. This is when the general market had really tumbled now I I don't want to take time now about no one spoke about the The crash that clinton had handed over to bush. You this is you know, this is an incredible thing how The media narrates the story and that's the story that gets implemented and Repeated over and over So I don't remember anybody saying that because there was this kind of a sideways to down move But that basically january to march was the highs all-time highs at that point and we had the major crash in the nasdaq, right? So this start goes down from 43 66 all-time high in november of 2003 So 2000 in march of 2000 and goes down to around about the nine-ish area eight dollars eight 25 nine dollars area Somewhere around September of 2002 and then it saw us a whole series of moves and it climbs to october of 2007 48 47 So it's a double of what it was back at that height. It was made in November, I think it was did I say in 2000 and then turns down and goes all the way down to 23 22 in fact misses round number by pennie february of February of 2009 february not march but february then march it goes to a low of 15.87 17 cents lower lower And What happens is saw this huge move? So look look at the cup formation this beautiful cup formation and then it took a huge dive The cup formation goes from 2000 at the high of 2000 to the low of 2002 All the way up to a whole bunch of tops all the way from to 2006 and slightly higher 2007 double tops and then comes back down very sharp when it goes back to the 1570 area so From that level it makes another cup formation more like a rectangle, but it has two kind of Cup formations and then it really starts the big move up and that big move up takes it to the high of today 325 So it was once upon a time at eight dollars I would say eight dollars to three hundred twenty five is not a bad increase And it's in I've got this as a leg D. I shouldn't do that. This is really An a D slash B a D slash D slash C in fact, I'm going to be very strict I'm going to call it a C right now Because that peak F was the same peak that everybody else made around about the 27th Um, and it pulled back with the magninistic cast to get everything So this is a legitimate new buy mode And I believe we're in leg C to the upside. There should be at least a D to come So adobe the question I had over the weekend was What about adobe? So what about adobe? adobe if this particular point is acting extremely well there's a little It'll be quite cute going up the hill But but but but but but but but it's like a little lawnmower. Actually it's a little moped type that was scooter And 325 25 was the height today And it's gapped up over the last two days from the earnings report I love it when you get a gap and then you don't test the gap you go straight in your new recovery high in this case All-time high and it's leg B in the weekly chart and this monthly chart Is in leg C adobe is looking fantastic Now, what would you do? How do you do? Do you play this right now? Well On a short term basis you could buy it right here 322 because I'm anticipating that There should be or there could be a new leg D to the upside at least but the way the stochastic and mag D are acting We'll have to see how that uh unfolds In terms of support But really you have you have no choice if you're looking at the intermediate term Yes, it could pull back and yes, it could come back all the way to 2 90 So it's a 10 correction But if you say hey, it's in leg C in the monthly chart if this really gets going It could climb to the 340s or 350s So 10 risk When you've got yourself Maybe a 15 or 13 gain to me I that's That's kind of risky because you're using up a lot of money at To to to put that to work with a risk of a 10 decline and then Perhaps you can get 12 to 15 percent on the upside. So I'm just going to say for the questioner on adobe I believe I've got this correct. Although there was an instant restart. They could have been f slash B and then this would be Probably a c and this could be a d. I don't know but at this point I do see it going higher But I don't see it going much higher. So this is where I would grab But I don't do this all that often, but I do it enough now over the last I've had this for about 11 years But I do it now because I've had it just It has really been a great help in terms of looking at resistance So 332 in the daily is chapter. We've automated resistance. That's a 322. That's 10 points higher 327 On the weekly underneath the daily high isn't that interesting the way these things sometimes work? Is the resistance and a whole bunch of 321 and here we are at 325 in the monthly chart? I don't have anything registering. So this so far says that adobe is acting very well My thinking here is let's have some patience and let's see. I can give this as a short-term trade But I need to see how does it pull back? How does it go to $3 and 3321 to 317 that's where I really look at it. I'll be back down to 64 I'm certain you are or strive to be one of the best of the best at everything you do in life It's the most common trait that we tigers and tigers share If you're looking to become the best of the best when it comes to managing your money Let me teach you to do what most wealth managers tell you can't be done Which is how to time the markets I'm Steve Rhodes author of mastering probability and for the last 12 months Timer digest has been tracking my newsletter signals Which have earned me the ranking as their number one market timer in the nation for the s&p 500 for the last 12 6 and 3 months timer digest also ranks me as the number one market timer for gold as well The fact is markets can be timed and I'll teach you the exact set of tools that I use That has transformed me into one of the best at what I do Sign up for mastering probability today by clicking on the newsletter tab on the home page of tfnn.com And get immediate access to workshops where I take you step by step how to use an extraordinary set of tools As well as provide great market calls to sign up today If you haven't checked out the newsletters page of tfnn.com What are you waiting for all of the tfnn newsletters are informative up to date affordable And it must have for every trader looking to gain a competitive informational edge in today's markets tfnn newsletters cover every aspect of the markets to offer you the very latest in market news Plus new subscribers get to test drive our newsletters risk-free for 30 days From all aspects of the markets including stocks bonds metals commodities and tech There's a newsletter to fit your needs Exclusively from tfnn Stay informed each day you trade and get the competitive edge that will help you stay ahead of the game Visit our newsletters page by going to tfnn.com and click the newsletters button near the top of the page tfnn.com educating investors You know, it's cool taking something that's good for you Something specifically formulated to help with weight loss better sleep stress reduction and the need to detox Nicar hunter and gatherer ancestors found all their nutritional requirements for health in their wild environment But today our food sources no longer contain the vitamins minerals and nutrients our bodies need to stay healthy and strong That's why we need primal edge daily nutrition It includes a special blend of ionic soil based vitamins minerals baddie and amino acids and an easy to use liquid form Primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system They've been called miracle molecules because like sunlight air and water life can't exist without them That's right page. They ensure we receive all the nutrition we need to be healthy and thrive We take it every morning primal edge formulated and approved by nico and page of living a primal lifestyle buy it today For just eighty nine dollars click on the primal edge banner on the front page of tfnn.com Hi folks, this is steve rhodes Stay tuned for another great hour of the trader's edge heard here at tfnn.com Hi everyone So you can see here in the five minute child of the e-mini you see all this cluster of resistance levels of the 3198 and the December contract he supported 3196 95 then in 395s 3195 is in resist But I love to talk about the rectangle formation these rectangle formations. Look, we've basically been since that big gap back at 10 30 to 30 197.75 We've kind of been in the sideways trading range a little bit under a little bit over But basically in this range for a long time remember try to outline for yourself some kind of It is a horizontal Sorry, it is a horizontal set of two lines making a channel a sideways channel But more importantly think of it as a rectangle and that rectangle says these are outlining the resistance and support levels And the longer you stay there the greater the difficulty is for this price to Spiral away to the upside or the downside without giving it at least one more test in the middle And then it could take off. So this is a two minute chart of the e-mini Just wanted to show that a couple of I had a couple of questions just come in as we were wrapping up here So just the iyt. Yes, the iyt is not acting as well as it should Overall, but I love the little break that we've got to the upside dollar 76 and 195 69 is starting to break this down channel chap away falling axe formation Remember if you break through the upside you can go one to one to the upside But you got to go each level to the left resistance first So this is the start that monthly chart really needs to see 198 to 199 Traded in december to get this candle to break to the upside away from this resistance level downtrend line a question ahead about the iyt r which is the reeds What a plunge just a spectacular move into the upside and now taking quite a dive from the 96 area We're trading at 89 77 big arch. Remember the dreaded h pattern there it is in red Especially all these red candles tells you exactly what it's doing This is something to keep in mind as a pattern to remember And we're taking the left side lower. So check out my opening call my daddy news there some have really nice trades in that And yep a couple of losses, but we try to keep them to absolute minimal But at the same time check it out nice discounts You get a tiger tiger dollars and now you're going to go to steve rose You're going to go to dave white and then tomah blinds back again So check out my opening call daddy news then I'll be back tomorrow. Have a wonderful day Thanks for being here