 Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. Call now toll free at 1-877-927-6648 or internationally at 727-873. Now, Larry Pezzavento. OK, looking good, Billy Ray feeling good, Lewis. I posted a chart of the Brazilian stock market long term chart monthly, but I wanted you to see all of the ABCD patterns that are there, the big one right on the bottom. And you can see that long term trend line that's coming down. And it could be getting ready to break to the upside. The reason why I pointed it out is because you can see this is monthly. Now, you can see all the ABCD patterns that are in here, three, eight dues, all of these things, because all these markets act pretty much the same. OK, off on a sad note, the last several days since Friday, I've been communicating with Tom O'Brien via Zoom with into David Paul's hospital room, folks. This man, when I met him in April, it kind of came to Vegas and for the money show. And I got to visit with him and he was one hundred and sixty five pounds spry as a fox, sixty eight years old. And, folks, I was going to post a chart of a picture of him today, but I didn't want that memory. I've got the memory. You don't need it. Anyway, here he is. He looks like he's ninety five. He's down to ninety pounds. And he has an extended abdomen because his liver is failing because of the pancreas. But anyway, what a great man. And I don't think it'll be very long. So say some prayers so he can make a pass. He passing on to the next life really good. So I think it's important that we give him some support here because he's really a really a nice fellow. OK, let's get off to something a little bit weird. I'm going to talk to you just a tiny bit, folks, about what's going on in the world with artificial intelligence. I'm going to start with this picture here because I, you know, I don't know. I don't know anything about art. Is the probably the biggest understatement of the year. But this is about East. I must. Yeah, I think it's yeah, it's a it's a bus. Yeah, it was it was painted in nineteen eighty two. It sold for ten thousand dollars in nineteen eighty two. And Ken Griffin, who runs Citadel, bought it two years ago for one hundred and fifteen million dollars. I think my five year old grandson can do just about as good as job. But the thing about art, folks, it's only for the very, very rich. And what it's done is with hidden symbolisms. Now, I'm going to tell you a story that was relayed to me from somebody over in Switzerland on Saturday. He happens to be a very astute person with artificial intelligence and also with the markets and stuff. But he showed me a picture of someone very famous, a very famous actress. Actually, it was one of Tom Cruz's ex-wives, Nicole Kidman. And Nicole Kidman was in a artificial intelligence program. And it was done by someone who knew who didn't know Nicole Kidman, that knew her voice and knew her picture. And from that voice and picture, the program built Nicole Kidman into his website as his girlfriend. Folks, I'm not going to tell you all the stuff that I saw, but this thing is flat out scary. I mean, you think about blockchains and some of the stuff we don't understand. But when I saw this, I said, my goodness, they could take they could take anything, anybody. And it would make it. It was so real, folks. I could not I could not believe what I was seeing. It was it was actually the same thing. I was shocked. And well, I don't care if they call it plagiarism or not, I'm sure it is. But that's that's that's that's what happened. They just rebuilt the whole thing and they have they have it for sale over there. I don't know if they have it for sale over here. But I think it was one thousand dollars to build yourself a girlfriend or whatever you want to do, a golfing mate or whatever you want to do. I mean, it's it's available out there. That's why it's scary. So whenever you see stuff out there, be real careful, because what you think you might be looking at might not be what you're seeing. Let's get back to the markets. But that's why I'm you know, it really shook me up to see that. Because my goodness, I didn't think technician technical stuff had gone that far, but but it certainly has. Here's an interesting chart here that Rich Anderson sent to me here. Of course, we've made new highs now in the Dow Jones Industrial Average. We have not in the S&P nor in the Nasdaq. The Nasdaq has been back and forth up and up and down today. But let's just get up here. I want to show you the difference here, but this is a place where where you can see the relationship between bonds and stocks. OK, we're in an area here. Look at this, folks. Look at these ABCDs. If you see these ABCDs on the downside, why don't they work ABCDs on the upside? This means there's a big divergence between people putting money in stocks and into into bonds. Big deal. All you have to do is look at a bond chart and you can see it's going down. You look at a stock chart. You can see that it's going up. What's interesting is that you have all these nice little ABCD patterns in this because they're measuring something that is measured in dollars. And also, whether it's relative to bonds or not, that's what it's measured to. Now, I still believe I go back to what time we got. We've got two minutes to go here. I want to cover this because I think it's very, very, very important here. Here was our projection today for the these are things that we're going to be doing on the live trading thing on the 2nd of August. You can get that. Just go to the T.F.N.N. website and sign up. We're going to make some money, I believe. We've got some really cool stuff that I think you're going to enjoy seeing. But if you'll take a look at that, what happened to the chart? Larry, Larry, Larry, Larry, I have it right here. All right, give me a second here and let's get this up here. I'm not going to make it for the break. I'm afraid, but let's just get it here one more time. And we'll see if we can get it up here. This is the crude oil chart, folks. This is what we were expecting to see in crude oil today. You'll notice here that the 78 percent level was right here. Here's where we were coming in. OK, and here's where we are right now. But what I wanted to show you is what we were doing is trying to outline what was going to happen to crude oil today, given the fact that we had this really neat pattern lined up. So all we did was we lined this up. I get this up here so we can see it really easily. And this is just a shorter term version looking over the last few days. Here was the overnight low right here. This was a beautiful ABCD pattern coming in right there. Just about the 76 level. And you can see what's happened there. The big move here was the big sell off here. We dropped a dollar ten a barrel. That was exactly six three eight two percent of the low that we made back here on Friday to the tick. And boom, away it went. I had an order sitting in there, folks. I missed it by by three pips. I even shaded a little bit and I still missed it. But anyway, that's what's happened. But now we're right up against that. ABCD up there now at seventy eight thirty seven. Now, if you believe in ABCD, you sell it at seventy eight thirty seven. You put a sixty pip stop on it and they're going to win about two thirds of the time. The other third of the time, they're going to lose. That's the bottom line of what we're doing when we're watching these things. There's not anything else you can do about it because trading is all about how much you lose, not how much much you make. So let's take a break eight seven seven nine two seven six six four eight currencies, commodities and bond markets are as important as ever right now with how they're driving the volatility in equity market across the globe, which is why it's a great time to try out Teddy Keg stat's Tiger Forex report. Teddy Keg stat breaks down the forex markets every Monday using his 30 plus years of experience as a trading veteran of futures, forex stocks and options. Teddy releases his weekly Tiger Forex report every Monday morning with coverage of all the major currency pairs, including the dollar index, the euro dollar, pound dollar, dollar Swiss, dollar yen, as well as many more. And he also has weekly coverage of the crude oil market and the 30 year T bonds as they both influence forex markets tremendously. When you sign up for the Tiger Forex report, you also gain instant access to Teddy's 60 minute webinar archive. He just hosted forex strategies and fundamentals. What is behind the Tiger Forex report for all the details and to start your 30 day Tiger Forex report subscription today, visit the front page of TFNN.com. TFNN Educating Investors. Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master. Steve won the prestigious Timer of the Year Award in 2018 and barely missed that mark again in 2019, finishing at number two for the year, an amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn. And he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30 day money back guarantee. So you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability, 30 days risk-free today. TFNN Educating Investors. Are you ready to take your trading to the next level? Introducing Tom O'Brien's award winning newsletter, Market Insights, your key to successful active trading. Tom O'Brien, renowned for his expertise in the financial markets, has designed Market Insights to be your daily guide to profitable trades. Tom publishes his daily Market Insights newsletter every market day before the market open along with updates when warranted. Stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to your inbox. Whether you're a seasoned trader or just starting out, Market Insights provides the edge you need to navigate the markets with confidence. Ready to join the ranks of successful traders? Head over to TFNN.com and subscribe to Market Insights today. Don't miss out on this opportunity to supercharge your trading results. Market Insights comes with a 30 day money back guarantee for all new subscribers. So you have nothing to risk. Don't miss out on this opportunity to revolutionize your trading game. Head over to TFNN.com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter Market Insights firsthand. TFNN, Educating Investors. Call now, toll free at 1-877-927-6648 internationally at 727-873-7618. Okay, folks, several people have asked me how does ABCDs work, you know, during the dot-com bubble. Okay, I posted the monthly chart of the S&P and if you go back and look from 95, I think it was 95, 96 all the way up until we topped there in 2000. Then the NASDAQ gave 80% of its money back from that level, but there was an ABCD pattern right here. You can see it on the monthly chart. Now, if you looked at it from a smaller time frame during that time, you'd be able to look at some things. But the reason why I think it's so important if you look at this big pattern, you'll notice that the bottom here on March the 5th of 2009, that completed a giant ABCD pattern. You can see it right there. There's A, B, C, D and that led to a monster move here. I was started to write the newsletter and stuff back in, I think it was October of 2007 when I started for TFNN and we got to March of that year. The Bradley model, of course, was turning up and we had that giant number there. That number was also a 61% retracement of the low in the Dow from 1987. That 87 stock market crashed low on October the 20th of that year was right at that same number of triple sixes as I recall. Anyway, from that level, the market just continued to go and I said, and the letter, I said, this will be the strongest rally in the stock market since 1938, which was a big one, but this one has went, this is not a rally. This has been the biggest bull market in the history of the world and it's continuing to this day as we continue to speak much to my surprise because I really thought we topped on Friday just like I did last Friday. And of course, the Dow Jones went up and made an hour. We made a 61% retracement in the S&P and just barely made a 382 in the NASDAQ. So there's a little divergence going on there. As Basil would say, it's a bifurcated market, but there's one other thing that I want you to notice here. You'll see this area right here. This was the big correction. This was we ran up into 2011 and we came down for about five months into July and I was in clear water with Tom O'Brien. We were doing some seminars, I believe, and he let us use his penthouse above the one of the condos there is a beautiful place there. And Sarah and I were staying and we look over the railing and we could see the sharks in the water and it was it was really cool. And so we stayed there for a couple of weeks and had a lot of fun and did some they call it work, but it's really fun for us. But that was a very, very important time because that low was in July of 2011. I as I recall that it was making a 382 retracement at that time and it was also making a 78% retracement of the low that he had made eight months previously. So there was a lot of support coming there with a major ABCD and as you can see once it took off, it never looked back. But this market has been without doubt the biggest bull market in history. There's a lot of people that say it has stopped. Some people say it hasn't doesn't make any difference. Folks, I look at patterns. That's all I look at and that's all I want to do. So I'm going to go down memory lane here for you one more time and this is something you might want to watch. You don't necessarily have to, but if you want to, you can. This is a chart of the Christmas soybean oil. This is the one that this is the one that I started dealing with way back in 1976. Well, it's late January 76 and it was in the end of June of that year that I ended I ended up getting out and the reason why I was getting out at that time was the same pattern that we're seeing here right now. We're in the midst of a big drought. This move we're having today, this $3 move in soybean oil is mainly due to what happened in the Ukraine overnight in Crimea where the ports are where they bring in all the edible oils canola, palm oil, soybean oil and they're shipped out of there that those ports were attacked and I don't know how much badly they were damaged, but you can see the market thought it was very very bullish and we've had a heck of a run up to the upside. But if you notice this, this has a double ABCD pattern and you can see that last bar here on the end. I always tell people I said you don't have to try to pick a top here wait till the market breaks and then look for that first retracement back but we've got several of these coming in here at this 65-40 level. Last time I saw the high was 65-60 and but this is really really bullish action and but this is a double ABCD pattern. We'll be following this one because it's something that you know you only have to risk $600 folks and believe me when this thing when this thing does turn it'll move many many times $600 it'll go very very quickly. You remember what happened to wheat folks remember when wheat was $13 and nobody wanted it isn't that amazing and it gets all the way down to $6 and guess what everybody wanted it. So let's take a quick look at what's going on here with the wheat today because wheat's up fifty sixty cents which these are folks the price of bread and stuff is going to go through the roof so same with price of meal going up that means the price of eggs are going to go up as also the price of chickens all that stuff is going to go higher so get ready I'm very very bullish gold and I'm very very bullish silver I'm waiting to buy them it came within a hair's breadth of my buy today had a buy-in at 1958 it got to 1958-50 I hadn't checked lately what it's doing but let's just double check out still trading they're telling me it's trading at eighteen nineteen sixty-two I'm still waiting to see if I can get that last four or five dollars down to see if I'm able to you know get that working for me so that's what I'm paying a close attention to okay now also the currencies folks we've been very very fortunate in the currency markets but we're getting very very close that you want to be thinking about covering your position but not quite yet let me get this let me get this pattern up here so that you can see it clearly and then I hope you'll see it clearly yep here it is right here this is the shorter term pattern here in the the British pound now we sold it way back here our third position was put on right here folks but now you see we've made a one three five three drive to a bottom pattern a one three five is the one like this all we've done is just we've moved our stop up into this area right here so if it gets there we are going to be out of all three positions and I know some people didn't put all three positions on they took profits but that's what we try to do is add some to see if you can you know get a big win this happens to be a lucky one the same thing with the euro if you remember on Friday when we were talking about the euro when it was down there at that one one oh nine and change yeah one oh nothing is one oh no one oh one ten one oh nine yeah one ten is one ten and it said it was stopped right at two days in a row it stopped right at the three eight two retracement and one of the things that there are three eight two retracement is important for is it's a real precursor of trend change and both on the upside and the downside so when that three eight two breaks to the downside with an a b c d failing at the same time it tells you the market is being pulled down by a larger cycle those are the kind of things that we're going to be talking about on August the second to try to you know line up you know some of these trades and we're going to be doing some trading will probably do at least five trades and we'll see how they work out we're going to take a break here eight seven seven nine two seven six six the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market the US futures market and the Shanghai Gold Exchange the gold report Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU HUI GDX the dollar bonds the South African Rand as well as 25 different mining equities with specific buy sell recommendations the gold report new subscribers get a 30 day money back guarantee so you have nothing to risk subscribe to Tom O'Brien's gold report newsletter now at tfnn.com 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 seven 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 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until the closing bell sounds tiger tv has 8 different shows with expert hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv okay folks I'm pleased to announce that we've got rich anderson in the house today to talk to us about these grain markets rich we've got something going on and wheat and soybeans and corn can you tell the folks what you're looking at as far as what's happened in Ukraine and the supply of wheat and corn and soybeans and some of these other things well let's start with Ukraine first good morning Larry glad to be here in Ukraine you know the rest of them basically said you know we're closing the corridor and then to just drive a nail into it they bombed all the ports and made it kind of a move point because you know if you can't load out ships it's kind of hard to export through a corridor anyway so to give it guys an idea Ukraine is kind of responsible for approximately 5% of the world trade in corn and 10% of the world trade in wheat and keep in mind right now the exporting country's inventory of wheat is at a 16 year low so you know the guys that were dependent upon Ukrainian wheat all of a sudden now are short cash and have to go someplace else to cover and it just really jumbles things around so that's the story there and it's tighten things up and take India as an example is put an embargo on there one of the major exporters of rights in the world and they put an embargo on 40% of the right that they normally send out so there's all kinds of countries starting to react to making sure that they have food security for their own country in fact Russia is is holding back some of their its wheat to make sure it has food security and the ones that you know needed the most are just left out in the cold but to top that off then you've got the drought concerns which are very real and in 2012 was the last major drought we had after that the corn seed company to tons of dollars at improving the drought resistant genetics of the seed corn and we're going to see how well that occurs this year but last year's sample Illinois, Iowa, Minnesota, Nebraska each produced over a billion bushels of corn which was 56% of last 2022 scrawl well you've got the good to excellent in Illinois down 29% from last year I don't think they're going to be able to come back and and that you've got this massive heat coming in for the next week then a week the next weekend it starts to cool off but you know down 29% of good to excellent versus a year ago you got a problem Iowa down 17% you got a problem Minnesota down 8% you got a problem and that's three of the four major producing states Nebraska is so so they air gate off a lot of the corn in Nebraska but if you have this heat hit the corn plant when it's in pollination that dries out the pollination and it at the very least won't fill all the way out to the end of the cob and it's going to affect yield now the August 12th crop report the government typically just projects their yield based on you know straight line data it's not until September that they actually have crop scouts that are out that are going to take samples from fields that they've sampled for the last several years and compare them and have a real good idea of what the yields are everybody's looking at the weather the GFS has been drier than in hotter than the Euro model the Euro model it's started to lean a little bit more towards the GFS anything more than 10 days out has not been very accurate at all this year the thing I've noticed about the weather is the persistence once we get something going to persist September is the or excuse me August is the month for soybeans so right now we're dealing with the corn situation but in August we're going to need some rain so we're going to have a real problem in the beans because we just put the acres in this year and to give me an idea the domestic demand for soybeans the crush yesterday Larry was like $3 and 47 cents of bushel when you and I used to spread crush 50 60 70 80 cents was high I know in the last year that we've got these kind of numbers that has to do with renewable fuel and renewable diesel so we've got a very interesting situation and when the weather does change the traders won't wait for the rain to hit the ground they'll already be you know oh sure so you remember want to use stops or have options that protect your futures positions you know synthetic quit yeah remember back in 76 when we were long beans and oil and stuff and fighting against Willard sparks that cook rain for those seven months went straight up and he was thinking it was going to go straight down and the same type of a thing but when rich oil was a 22 cents a pound now it's at 65 cents a pound I mean my goodness I don't know people can afford cooking oil new highs for the year yesterday I think it got up even higher than that yes it is you mean higher today I believe it got up towards 69 cents it's yeah it's unbelievable it's just unbelievable and that there's no way that that's going to change in the next year because number of acres planet that's history you know we're dealing X number of acres and now the only variables of weather and we better hope we get some decent rains in August or yeah it'll be a really hot market come August boy I'm thinking might be just really scary for some of these foreign countries and like in Africa where they would rely so much on in and but there's not going to be any too much to export I don't believe what about China what are they doing are they buying yet or what's going on there and also South America what's happening there rich well in South America you've had some improvements there they've got approaching I think 57 or I think it's 47% of the corn crop the subpoena corn crop has been harvested which is behind last year then whether it's improved some in Argentina Argentina with other problems this year and and their significant problems but whether has improved there and Brazil it's got the bumper crop so bottom line is our corn is still high versus the rest of the world and so they're they're not coming here you know China is a good trader and you know they'll they'll trade for value they'll go where there's value they the other thing I might mention you know that there's a week tour fact I had dinner when one of the guy's going to be in the week tour Tuesday through Thursday out in North Dakota and Western Minnesota and that's the hard red spring week which was you know we used to call the Minneapolis week it's hard red spring week and they just last week had the Canadian week tour and they lowered their crop by 4.6 million metric tons versus what the government the USDA had for Canada at 35 million metric tons and this tour estimated at 30.4 million metric tons so you know weeks tight oil to new highs that the corn is vulnerable the the corn that hasn't pollinated and the you know they get hit with this kind of heat and the kernels are filling um I have a hard time imagining how it won't impact how much of the length of the corn top it'll actually fill out in effect to yield I believe okay Hey listen thanks for joining us my friend and we'll have you on again soon we appreciate the feedback I already walked the week it's going up oh yeah it certainly is I'm watching it going now it's going up a buck I I think so without a doubt we'll do that we'll do that pattern when you come back folks 877 927 6648 we'll be right back 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 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 t f n n .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 and stock prices get the opening call newsletter with Basil 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 t f n n .com educating investors are you ready to take your trading to the next level? Introducing Tom O'Brien's award-winning newsletter Market Insights your key to successful active trading Tom O'Brien renowned for his expertise in the financial markets has designed market insights to be your daily guide to profitable trades Tom publishes his daily market insights newsletter every market day before the market open along with updates when warranted stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to your inbox whether your season trader or just starting out market insights provides the edge you need to navigate the markets with confidence ready to join the ranks of successful traders? Head over to t f n .com and subscribe to market insights today don't miss out on this opportunity to super charge your trading results market insights comes with a 30-day money back guarantee for all new subscribers so you have nothing to risk don't miss out on this opportunity to revolutionize your trading game head over to t f n .com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter market insights first hand t f n n 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 L.A.B.U. or L.A.B.D directions daily S.P biotech three times bull and bear E.T.F.s 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 4767 523 the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ okay folks I've put a chart up here of the oh dear disappeared just a second I'll be right back with you hold on I we've had another storm here that this is on the side last night it was very small compared to what happened a week ago last Monday but we have all of our electricity is finally up and running the they don't have the lines completely built but this is the dollar move that Rich was talking about remember folks now last year remember last year in May corn wheat was at $13 a bushel and everybody wanted it and when it got down to $6 a bushel nobody wanted it this is how these markets work folks you got to be buying when they're crying and selling when they're yelling and they're yelling right now you can see here we've got another 80 cents to go here in this ABCD pattern in the wheat market and then what will happen is this is a daily chart if you go back and look to see where the previous 382 levels were you're going to be seeing this is nothing more than a rally in a bear market you know there's a lot of countries that do a lot of exporting especially you got Brazil Argentina those countries down there do quite a bit and even Mexico does quite a bit and Canada does quite a bit so there's there's going to be food around there's going to have to be paying up for it because it's a drought we're having trouble you know that's all there is to it we've been alluding to that for quite some time but you know that makes no makes neither here nor there you know you've got to be able to feed your family and stuff so I saw eggs at 899 a dozen I I don't use many eggs so 899 it's not going to be a hard thing to do but by golly that's still you stop and think of these people going through the line with the two carts and I saw a lady pay 699 dollars just shy of 700 bucks of two carts full of stuff for her family of three boys and young boys from I think they were six through 13 and she says it will last about three weeks two to three weeks and believe me she wasn't buying high cuts of meat either this was you know really stuff that they they live and die by okay I want to go back here and talk just a little bit because I'm still fighting with this move here in the market because we've gone up and almost made the yes we did hold on one second we did make a new high in the Dow Jones today let's get this up here now you know folks this pattern continued to go higher that means it hasn't turned down yet and the fact that we're up 200 some points in the Dow earlier today we're back up here how many days it's going to stay here I don't know but this is a completed pattern and remember folks this is a this is a big deal and you'll wish I think it is I mean you know I mean look at it was a big deal down here where nobody wanted it right now it's a big deal up here and nobody wants to sell it so that's that's what the problem is but you got to keep nibbling at it because you don't know which one of the times that the when it's going to turn look at the Dow Dow Jones makes new highs today we make a 61% retracement in the S&P up there at 45 89 and 45 90 and the NASDAQ is just barely hanging on to try to make the 3A2 so it's it's a as Basil would say it's a uh-oh it's a bifurcated market oh dear I had some problems with some data that just flashed up on me I hope it's not going to affect what I have to do here so give me one second here I have two other charts that are very very important here before we end up our session today this is the one that I have watched for a very long time the difference is let's get it up here this is the the the Magnificent 7 but the Magnificent 7 is this was as of the 30th of May folks now we went through all of June two weeks in July with this thing screaming up here so it's probably way up in here in other words it destroyed the highs of January of 2022 and that that was a big deal and we've certainly done that with Microsoft and Apple and some of the others now I would like to spend just a moment here because I think it's important to look at some of the Dow stocks okay because not all of them are you know hitting the home runs let's just take a look here first one we're going to look at here is the Mr. Appel who's down by the well someday I'll tell that joke but I'll have to remember the push line anyway you'll see here this has been doing the same thing now it was down for three days and now it's up a little bit today okay now there's some others here that are really making the Dow move these are the ones that made the Dow move last week okay let's start out with Caterpillar related to you know what grains and all that stuff you'll get this up here because this is the guys that use the tractors and stuff the combines to for when I did that stuff we use horses anyway that you'll see here get this up here so you'll be able to see ah no that's not good hold on just a second I don't know what happened but okay now we're going to try to get it up there without too much trouble and here it is this is a charter Caterpillar you can see these past few weeks it was just basically straight up and I was down here a day or so but if you take a look at the other ones that I have here Goldman Sachs very very interesting one because all of these are completing patterns folks the reason I bring this in is because I don't know if Goldman Sachs is still up to if it's up to date needed to get up just a little bit to make the exact 61 percent retracement and with the Dow up 200 I don't know which one of those stocks it is but I went through all of them I went through the even the ones that don't count you know because you there's so many you know triple digits in the Dow now I think there's 15 of them but then there's others that are not not they're not worth but Intel used to be a big one and now it's births basically nothing so that's what you got to realize it's price weighted and it's not cap weighted so there's a big difference that's why United Healthcare and let's put up United Healthcare you're going to see what a monster this has been and where it stopped now whether that's going to mean much but just just look at the vertical move that it had here in the past five or six weeks I mean just boom just straight up now that was maybe catching up with the rest of them but we're still in a long-term downtrend in United Healthcare and I don't know if it's taken out that high yet or not today but that's that's what you're dealing with when you're looking some of these things okay so that's part of it let's do one other one here that we have that I think is important because I did them all because I wanted to see which ones let's do let's do a JP Morgan and that's always a nice one here's again the same thing making a beautiful sell pattern folks I tell you what I did of all the stocks that I looked at I couldn't find one that I wanted to buy based on patterns now you know I I miss some sometimes but this is a look at that there's a right up at the 78% level I can't find any that's making a beautiful ABCD to the downside or anything like that nothing at all so anyway that's why I bring these up here to show them to you because I don't see any bullishness in here but the rest of the world does so until that happens we had a heck of a day today in our short we were short gold it worked really good short the British pound that worked extremely well we had one other one that was really good I'll think of it in just a second cattle worked really good today and there was one other one that we had that was pretty good and I can't remember what it is because we had 4% oh the Euro Euro that's still making new lows right now hey let's take a break here 877-927-6648 if you're looking for potential trading setups in the stock market then Rocket Equities and Options Report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for Rocket Equities and Options Report today with a 30-day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN.com TFNN educating investors you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right? like any endeavor in life before you decide it's impossible get some advice from the experts you might find 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part of this educational community of traders just visit the front page of TFNN.com Don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV Okay Rebecca folks I posted a chart of that December soybean oil for a reason and that is when that happened in 1976 in July of that year the quotes coming off the Reuters machine remember we didn't have all this fancy computer stuff it was all through Reuters that we got most of our information and there was no Bloomberg or anything like that but anyway it basically said that the only soybean oil and soybeans that you'll be able to find will be in the Smithsonian Institute I swear to you that was it I wish I had to save that that was one of the few quotes I should have saved through the years that was one of the bigger ones but anyway that's why you know it was the time and I was just trading ABCDs folks it saved me that time whether it's going to help me this time or not I don't know I just trade the patterns that's all I do and I wanted to share one other one with you because the Nasdaq is still down it hasn't even made a 382 retracement from one of these periods that we had here get this up here so you'll be able to see it here there it is right now that's the Nasdaq what I did was it's the long-term weekly if you do the daily yourself we don't have time here because we've only got a minute we have been down now for three days but actually it's the fifth day down in the Nasdaq and all the little rally that we're having a rally right now of course but it's just doing hasn't even made a 382 of any of those numbers so you know it's really liking the market I remember it's the one that led it up but you know the other things are still going up so everybody's still got money to buy and they're going to keep buying but when it's over and maybe it's never going to be over but when it is over then it's going to be very very fun to be on the short side but until that happens it's probably not going to be very fun that that's it so we trade other things and see how they're doing so let's live every day in an attitude of gratitude and may God bless and what we'll do is we'll see you on the flip side tomorrow I guess we'll be I believe Jeff huge tomorrow of Alpha Insights always has some great stuff and it'll be fun to listen to what Jeff has to say so we'll see you on the flip side tomorrow folks