 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. Good morning everyone, Basil Chapman, on this Monday the 28th of August, we're wrapping up the month of August and a couple of days, we're looking at the Dow up 241 and 34,588. Everything I looked at over the weekend suggested that there should be some kind of a relief rally, but probably more in a sideways consolidation before we see the next move and maybe it's the next move down. I'm not sure how much higher we can go. Yes, you can have a rally at 34,591 in the Dow. I don't see any reason why you couldn't actually get to the 34,800s and then we'll have to see if there's internal strength so that weekly is still very strong sell mode in the daily, although I have no qualms looking at the long side and the Dow just in the very short term, even though we are still short from the August 1st high, you've got to be ready for balances, but that would only be a really quick trade and that's looking at the S&P. S&P at this particular point is up 24,430. It's the same thing. You can just see this here. It's basically so far, it looks like a sideways consolidation. The technicals are all weighted to the downside of this particular point. Same thing, up $1.84 at $365.90. There is a little bit more rotation there going on, so you can get wilder swings, but still the $365. I would say the $371 area is going to be a real test for strength of the S&P. That weekly chart is still strong, but the technicals are starting to fail one by one, not the $914. That's still very, very positive looking at the IWM. This is going to be a very big test. Can we continue? We see this all the time in the Russell 2000. It's terrible. All of a sudden, it has a really strong couple of days and it looks like, well, maybe the small caps, the iShares Russell 2000 ETF with the small caps is going to come into play. So far, that hasn't happened. Now, a bunch of things happen at the same time because you need to have, probably you need to, it isn't as influenced by rates as some other areas, but it certainly does have some kind of contingency there because you've got those financials, the smallest financials there in the Russell. So I would just say that if the Russell was starting to move, I also have to have a look at the XLF and so far, kind of avoided that area for a while, quite a while. That has been XLF, there we go. That's the major S&P select financial spider fund and here we are, the nine-period moving average still pink under the 14. It's tested the 200-period moving average, pushed a little bit up away from it. The MACD is starting to improve, but it's still negative. Stochastic is starting to improve, but it's still under 20 percent. The on-balance volumes are a little bit of a balance. The weekly chart remains with a green, nine-period exponential moving average, meaning that it's in an uptrend, but it's under pressure. That's what IBD would say, it's under pressure. That's what I'm looking at right now, but the technicals are not that bad. So it says how we start September is going to be important because if it's held above 34, no, sorry, if it's held above 3350, it's at 3428 right now, and the financials are able, the XLF is able to start to trade, not can't just touch it and then fail, but can actually start to trade in the 3475, 3510 area. That would be a really good sign. It hasn't done that for quite a while, so that would be a good sign. The KRE, that's the S&P regional banking ETF, still negative. All the technicals are negative. It needs at 4461 up 97 cents, well at least 2.22%, that's not bad. You would have to see this in the 4650 area and holding there, can't just go there once and it needs to go there and hold, and it'll say, hey, there is some strength left in the regional banks sector. Let's just go on, we want to look at the, this is one at a time, gold. So gold is trading up seven, sorry, you see some turning around, the stochastic has gone from under 20% from the under the teens, in fact, in the single digits to over 20%, and now it's trading at 45.95%. That's a good sign. On balance volume is very weak. The MACD is strengthening, it's cross positive. Where are we here? We're looking at the pink nine-period moving average slow way underneath the 14-period moving average, and that just says to me, gold is finding some play at this particular point. You might find, I don't like to type this in, I do that every once in a while, but it's a rolling contract. In other words, the price that I have now, it could be a different price in a week's time with the new months starting, but the low was 1913.6 on the 21st of August, and the way it's looking right now with the lower lows and lower highs in the weekly chart, a move in gold that can actually get to the 1960s at any point this week would be very impressive action. As it stands, it looks to me like it's just chopping sideways, there could be one little slide into the 1920, 1915 area. That would be on a short-term basis, really important to hold. If you're looking at silver, which is at a way better chart formation, up 0.04 right now, 24, 28. This is, look at this, a strong move to the upside has, no, you know what, that was a C. Let me just double check here, 24.430 and 24.44. This is a leg C. I don't like leg Cs to fail so quickly after a B without making a strong leg C. So this is what's this very good action so far. Nicely, way above the 200-period moving average, the nine has gone positive over the 14. The magdies expanding, it's good. Circassus flat at 90.81%. That's what I like to see. And the other thing is that in this pattern that sometimes a dreaded H, that's the lower case, H, let me just do that right now, can go to, it goes below the left side load but then closes above it. If the tactical starts to really improve and the price actually takes out the arch high, in this case for silver, it would be the high of 25, 40, 47, the week of the 21st of July. If it's able to, it does not even close, go above that, preferably close, but go above that in this particular phase, it says, you know, it could go all the way to the 20, 26, 50, 20, almost 27 level, that was the high back in April. But just one thing at a time, the nine is still negative in the weekly chart, positive in the daily, positive in the monthly, so that's weekly chart is the one that really has to change. If it does that, you're looking at something quite extraordinary that the strength of the silver SLV is the ETF for those of you don't get the futures contract. Yeah, you can see it a lot clearer. It's broken above the falling X and inside track technique and the tools that I use for four sessions are gapped up and it hasn't broken under that trend line. That's in the daily, the McDean's, Cassie, everything's positive. The weekly chart is just today, flipped L, that's long but you can't go less than an hour into the new week and call the weekly chart 90 moving average 40 crossover positive. You have to wait for Friday. So that's a good sign. I'll be back to down as a 242 is 23.76 will be right. 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 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. 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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. TFNN has launched 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. The Tiger's Den. Available to all Tigers and Tigresses for just $1 for the year. There's no catch or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Toll free at 1-877-927-6648. Internationally at 727-873-7618. Hi, so I was just asked if I could quickly go through the E-mini S&P futures. So look, in the 10-minute chart, you remember the pattern that I always talk about, that rectangle pattern, a long rectangle pattern. I have techniques that I've developed over the years that describe in detail. Let me see if I can find right here. What happens if you get a long narrow rectangle? Let me just say, this pertains to a sideways move between parallel trend lines, meaning you've got a horizontal line and another horizontal line making your channel. But this is sideways and it's long and it's narrow. There are a whole bunch of rules and the rule basically says in the Champions methodology, after a long period of time, you suddenly pop above this trend line to a D or an E and then pull back and take out the halfway marker of the rectangle high and low. There's a real good chance you're going to take, you're going to touch the bottom line, maybe this time take it out and then pop back in and that's where other things can happen. But if it stays in that rectangle for a long time, doesn't pop out on the upside or the downside, if it takes out the upside, you've got to be prepared that you're now looking at this as new support. The whole thing is new support because it's found a different level. In other words, the tide on the very short term has changed to an uptide, rising tide. The larger rectangle has a different connotation altogether. I can talk about that but let's talk about this right now because this is what it pertains to. Sideways look between about 44, 27 and 44, 12 or 13. It just stays there from Friday all the way through Sunday night into early Monday morning and then look what happened. Pop, no, 827, 828. No, what am I talking about? It was, it was Friday. Right, Friday was yeah, it was Friday. And then what happens is it breaks out and it goes in the chapel. If you're always looking for a peak D or an E and that's kind of where you want to say, yeah, what's going to happen right now? Well, there's your peak D at about 11 a.m. That was on Friday. Pull back and remember that sudden sharp start. I forgot to tell subscribers that on Thursday I had a very low chapel. We've trend gauge reading and that should say whatever the futures do, even if they're up sharply, be prepared that we could go negative in today, which is exactly what we did. And then there was a sharp rally. Look sideways and then it breaks out. It goes peak A, B, C, D. It's gone to the D. Uh-oh. Oh, but wait a minute, the line is still way over the 14. Nothing to worry about just yet. Still acting very well. Okay, so that's, I hope that helps you. On a very short-term basis, we made a peak C1, C2. We've gone sideways. It could still go a little higher than this. It's even a C3. It's holding very nicely. I mean, we were kind of oversold on a short-term basis, especially at the end of a month, a lot of things going on. So let's just go back here. So the SLVR said it was holding very nicely. Just wanted to finish up here to say bonds. This is bonds going all the way down to the left side low, but it's better to see it in the 20-year Treasury Bond Fund. $9185 was the low back in October, the week of the 28th of October, 2022. $9223 was the low five sessions ago, six sessions ago, or four, five, six sessions ago last week. And it started to look the stochastic rallied a little bit. The on balance volume is still very negative. MACD is expanding upwards, but a lot has to happen before you can see follow-through to the upside. But I have to call this gray leg B in the daily chart because it did make a slightly higher high today. I'm looking at this and I'm saying there's a lot going on, because, as I said, to subscribe to my opening call, the HGX index, that's the Philadelphia Housing Sector Index, did a Roman candle low on Friday. That's this particular candle right here, red one, with five to four 32 low. If in the next two sessions it's able to close nicely above the high of Friday, $548.54 was the high. If it's able to do that, then those tall brothers, they might hold up a little bit longer. And we need to see whether the yields are going to help. Because if the yields start to come down, you might get a pretty nice balance in these homeboulders. And that's going to be very important. Okay? So I see some inner strength, the first kind of this opening gambit of the week, and then we're going to test strength. But the SMH is absolutely imperative to monitor stock, up $1.05 at $1.50.14. This is going to be very interesting. We remain short the SMH. So now I've got some questions. So this is going to be a very interesting question on RKT. This is Rocket, RKT. Talking about Rocket, don't forget, Tommy Urbine has great newsletter called Rocket Options and, oops, Rocket Options, I shouldn't have said that until I absolutely remembered exactly. Newsletter. And he does great work with looking at options, anyway. So this is Rocket with a Chapman Way flat-based restart, which I said way back here on that big rally that if I'm correct about identifying this particular pattern, I usually make it pink so that everything goes together, pink there, then you've got your pink sideways move. Now let me just put this out. I would normally measure it. So there, this is a little bit conservative. I could be a little more aggressive. I'll sort of, no, yes, I'll sort of just a little bit more aggressive. And I'll say go to that doji candle there. So there's a chance that with the gyrations that we're looking at right now, that this very, very nice move from under nine to almost 12 in the slide, I mean, 30% rally is fabulous. We could see, and this is going to be the big question for me, how does this play out over the next couple of, I put it in the next two weeks more than just next couple of, yeah, not days. I need a couple of weeks. Look, it's now struggling a little bit. This particular pattern says that it should come back and test the 10 round number low that was made on the third of August. When this is finished, how it comes out of it and comes back towards the 11th is going to be really important because if in the month of September, certainly by the second week of September, it's touched 11.05, 1112 just gets into the 11th, then you've got another cup formation. And that's going to, I wouldn't say defeats the purpose of the Chapman Way flat base restart off-road. It came all the way back down to the 10.13, just 13 cents away. It's pretty much accompanied a lot of what I would look at in the Chapman Way flat base restart. Now even more important, what we're looking at is the monthly chart, the nine is still way over the 14. So the weekly chart, the tide is still pretty strong. Monthly chart has improved, it's gone to a leg B. So this is Rocket's companies. Is this the financial, can you just, if you could just tell me if that's, yeah, I'm not sure yet. In fact, I thought I looked at it and typed it out. I did the break. I'm going to have a look. So it's comes, does. Oh, yeah, that's right. More years, real estate, financial service, businesses. Okay. Well, nothing that I said changes it. It's in a trading band and watch how it tests 10. That's, that's a big thing there. I'll be back. Currencies, commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger Forex report. Teddy Kegstad breaks down the Forex markets every Monday using his 30 plus years of experience as a trading veteran of futures, Forex stocks and options. 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Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be. TFNN Educating Investors. Yeah so a couple of questions came in and I'll just get to them as well. So VNO is for NIO Realty Trust. It's up 76 cents at 22.78. I like this cup formation that's forming. I think it will go to a leg D and that'll be above the 22.78 high oops 23.78 high that was made a few weeks ago and then you're going to have to see because the MACD is still very weak it came back sharply stochastic fell from way over 80 percent down to under 20 percent down 47 percent on balance volumes weak. So I if this is a position that you already have I say just hold it don't fold it. I mean this is not where I want to mess with something that you've been because it gets you know people are going to Realty Trusts people who own who build the Realty Trusts they understand real estate they understand finance and as long as things are working well they get the dividend they get all sorts of things so it's a different kettle of fish and so I'm not going to mess with this other than to say at any point in September if it closes under 19.50 it's a 22.81 right now then there's a little problem and then I would have to say take a little bit off keep a core position but take a little bit off so you say well why not two or three points higher take a little bit off I'd wait just a little bit let's see if it can retest the high that was made just under 24 and in fact I can just tell you right now for money management purposes not a bad idea if it can get between 22.78 if it can get between 23 and 23.76 over 76 cents I wouldn't make too much of a fuss I'd say yeah take a little bit off for money management purposes because even if it gets to that D the way the daily chart is acting it looks like the next thing in the phase is going to be choppy and if it gets to it that's it'll be an E slash maybe a B in that phase but in the daily chart a weekly chart it'll be a leg D and right there looking at it just on a purely technical level says don't mess with your core position but on a very short term basis maybe you can think maybe you can wait and if it does that in the next day or two give me a yell we're looking at it together but at this point it's acting very well CCJ is a question no no I have to do the one that I got over the weekend xpeng or what I was talking about it the other day gx oh man e p en no no why why is it just slipping my mind here no no she oh no he wait I wrote it down didn't I write down and I will say the same trouble the other day oh I'm gonna have to memorize this one xpeng no I'm not getting it it was a Chinese car company someone can give me a hand yeah um I've got it in front of me I'm looking at xpeng xpeng someone's going to do that tomorrow because there's all these great people in the den that look they'll let you know because I had it down xp en xp and I thought that there's a g there's some all right well I can't find it um and I've got in the next break I'll get it I don't know why I've written down now I can't find the email so I'll get that but it was acting quite nicely and I oh I I know where I can find it right here right here I got a question about it I know I'm afraid we won't find it there either so I'm not going to mess around so let's just do this because a couple of questions are coming that really pertinent to where we are right now and you can see I can't help but start looking for this thing no I won't news yeah so within the context of NEO is coming up with earnings so these are the these are the Chinese automobile companies NEO is one of them and I'm just going to say to you it looks to me from the chart formation that they will have another big move to the upside this v-shape inverted v-shape pattern says it's just a two-carried away it's underneath the 200 period moving average if it has a really good earnings report I think it's tomorrow afternoon after the bell maybe not then no it isn't BYD but I'll have a look at and it wasn't BYD it's BYDD I think it is or something like that that's a Boyd XPEV ah thank you I knew I knew one of our Dennis XPEV of course there it is so XPEV this is what you see NEO the way it made this move here but now there's financing and a whole bunch of things came in for XPEV design and develops manufacturers smart EVs that's a nice move to the upside this cup formation and just today it went back to L the 9th period over but look the Magdy's only now trying to turn up stochastic's turning up so this is in a different area all together you can't put it together with four to four what a terrible chart that is look at general motors ah gaga this is not great this is different these are the stocks that are I don't know if they do anything else but the electric vehicles so that makes them very different and you have to look at them in that light because if I do it look there it is look at Tesla Tesla had the same sharp move down the same test in this case of the 200p moving average and you had a peak and today's making a peak but not a very strong one so I'm just getting the way I'm looking at the chart I have to say that I think GT Center is something about call options on XPEG and because of that I'm going to say that's the best way to play it and you do it as something that you know exactly what your risk is and you can you've got control you know exactly what you can lose you know that the gain you can leave it open they'll just run so that's very different so I like that and I like the idea that in this particular sector go for the pure electrics because they the ones if they're going to work they're going to work really well they the more complex things like a Ford GM other things have to happen they've got strikes coming up there are all sorts of things going on all right with that said uh where was the other thing I was going to look at here was okay b I did this BYD is something that's Boyd I think that's the gaming company yeah Boyd had a sharp move it almost looks like an EV here right now comes sharply down from the 73s and it goes down to the 200 period moving average it too has a peak A and it's trying for a B all within just a a bounce kind of phase BYD BYD is that how you get it BYDD I think I'd get it the same way I'm going to go BYDDF let's see what comes up yes siri so this is Boyd company oh no BYD company it's not got nothing to do with Boyd BYD company a limited Chinese company and it's done very well it's also had the same sharp pullback the actual chart looks a little better and as I understand everything I've read says that they are really one of the more mature companies and they've been in around in a long time they make enough a variety of vehicles and they are I think that they are money making I don't think they keep making losses I think they're now money making this is a different chart formation this is the one that I actually favor that we don't have anything in this category right now but this is the one that has the best story that I've read so far and that is BYD BYDDF is the symbol I'll be right back with rising inflation rocketing interest rates of all to dollar an uncertain market there's an asset that all traders flock back to gold however these irregular times also mean a regular gold market which presents its own unique challenges this brings up the question what moves the gold market this is a question I'll be answering in my next live webinar on august 30th from 4 p.m to 5 p.m I'll be hosting a live free webinar for all those who subscribe to my newsletter the gold report the gold report has been in publication for over two decades and I've seen just about every market gold has been traded in this experience lends me great insight when trading gold and other money equities and now that insight can be ours on august 30th I will deep dive into gold bonds in the dollar where they are now how they affect each other and what to look for when looking to set up a trade additionally I will provide a comprehensive breakdown of the xau hui and gdx as well as cover individual what gold equities and answer questions live on the air subscribe to the gold report today so you don't miss this rare moment gold tfnn educating investors are you ready to take your trading to the next level introducing tom obryan's award-winning newsletter market insights your key to successful active trading tom obryan 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 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bear etfs visit direction investments dot 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 866-4767523 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 principle 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 there was a little double top of the e-mini right there and uh now it is under the nine period moving average in the ten minute chart and the we and the daily chart is where there's arch formation so the four four i'm just going to say right now four four three two is going to be key support in this first part of the well the second part of the trading day the 1020 time frame uh we'll see what happens here but so far it's actually done quite nicely so question came in about ccj that's chemical corporation uranium fuel monthly chart uh isn't a g-slash b it's still looking really strong uh all the technicals are doing well exactly the same thing in the weekly except that here these stochastic instead of being at 83 percent like the monthly is at 93.99 percent that is fabulous i love the and flat stochastic flat is what you look for for stochastic popping just for a couple of bars and then going back under 80 percent that's that's that's where you can see a sharp subtle and look at the daily so this is a leg d and because it's a leg d what i'm i'm going to say is the reason why for subscribers to my opening call we took a little bit just a tad off our uranium stock which has done really well we took about a maybe 17 percent gain of this this little bit is that um it's getting just a little tired just purely technically that's not to say it's looking like it wants to drop sharply it just says this is the appropriate time to put some money management that's all where would i add back anything that i took off now in ccj just give it a little while if it closes under the candle of friday which is 3515 then just wait a tad because right in this just about 34 perhaps a little under 34 is where i'd be looking at it to say is it making an arch formation or is this where you're going to get another where the nine-period moving average is still very strong therefore you want to get in uh for the next big bounce so that's what i would do just to turn off and then i would try to add and now as we're looking at um as we're looking at the uh let me just go back here because iai broker dealer etf question came in when do you want to get into the add to your position from 45 in the broker dealer and security etf well look at this this is gray a gray because the technicals are still very weak gray b it has gone in this last iteration to the upside from the 85s to just about 98 and then what happens is it comes back and now it's testing the 200-period moving average and this is telling me that all is not 100 in the market right now this this digestive phase needs to go on a little longer so i'm just going to say hold off there are some stocks in the uh how can i put look Schwab pull back very Schwab pull back very sharply broker dealer schw and um yeah it's way under the 200 period moving average the pink is under the 14 prices under all of them i think you could have little balances but look at that and that pattern that i'm looking at right now is exactly like the pattern oh rivian the question came in about rivian rivian seems to me it looks like a fabulous car company and all that trucks i mean you always identify them on the road um not so much the scvs but certainly those trucks and at the same time the the chart itself just like Schwab right now the chart is saying there seems to be something not quite right uh maybe it's financially maybe it's income maybe it's expenses maybe whatever it is and look at rivian keep your eye on the middle chart the weekly chart in the middle rivn and doesn't look the same and rivian to me had 149 high back in november the ipo month of 2021 had a little bit of a tumble to 11.68 back in uh april and now and then had a really i mean more than doubled because it went all the way to the 2020 uh sixes sevens maybe and now what is it doing it's pulling back and that just says to me if it's doing so well this this spike should have held much better it should have held it should have held above 24 30 and here it is going down to the 20.23 area even 22 the 200 period moving average so it says to me rivian is in that area that they might be great i wouldn't be surprised if the cars remember when i used to say i wouldn't be surprised if a tesla each tesla is being sold at a loss of 80 or 60 000 each and then a whittled away and got better and better i'm now going to say to you i wouldn't be surprised if rivian is each car costs them a fortune um yeah so within that context let's just see what happens because um i would love to see rivian succeed i love all these guys to succeed because you know electric vehicles it's really the the competition right now is saying to people who want to buy electric yeah kind of overpaying and i'd like to see that even out but i'm also going to add that if you think that um united states of america with its history of energy success and failures is going to have pure just pure success with electric i don't i just i don't see the history for that i see the history of a bumpy ride and at some point you can have people with these evs and you're just not going to be able to charge them or alternating charges on every three days or whatever it is it's going to happen i'm sure as sure as i'm sitting here all right that's the way i think it's going to work but we are moving once you've set the trajectory up and you've got the government pushing like crazy it means that you've speeded up everything the technology and everything else and therefore that will be there's no question that the gas driven automobiles they're going to see fewer and fewer and fewer and then there'll be a phase where because electric vehicles are troublesome or whatever it is that people can't get you know you go to your gas station right now even if there's a line 15 minutes and you're out of there if there's no line as long as it takes you to fill up five minutes you're out in out and in this particular instance you're talking about people lining up and that's also is going to affect tesla because tesla vehicles are going to be sharing now with everyone else or at least with a bunch of other companies so those lines are going to be long and now what they're going to talk about the danger of the cars in in traffic because they can't uh they can't it's just it's going to be an issue they've got that in cambridge mass they've got some guy put asked for permission to put his little extension that goes from his house to his car with a little bridge a little tiny kind of a cover on the street so the pipe can go right through uh what is that we're going to see everywhere you go all of a sudden you're going to get these things and then what's for snow shoveling what are you going to do you got a brakes at whose response there are a lot of things going on and obviously we're talking about an early the very early stage of a trend but in the early stages that's where you want to try to resolve beforehand problems that could come up this is not the way we work around here we always work under crisis management all right with that said the towers have to turn got a little thing got it out of my system here um so the question came in and i should go to right now before we go to the brake uh go ev that's right i forgot all about that i should make a note of well i do have a note to look at g o e v let's go ev and that's the same kind of pattern and look at the basing on in the weekly chart it's just it's kind of struggling i'll be back in a moment does attract 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 basal 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 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automobile companies in the 19 late 20s and early early 30s before the depression really took hold so we'll talk about that with the period that we're in right now i've spoken about it so many times so within that context let me just do a couple of things real quickly here there's a question came in so basil are you are you still long are you what are you doing so we are still short the doubt from the august first high in the doubt that's the very day of the high we're still short the smh's we're looking to add to that short position the smh's under certain conditions and the soxs we're out of that pity we didn't get back in but we're out of it for now that's the three times short we hope to get it we're looking to short the home builders under certain conditions because there is still some internal strength so the tide on the daily chart and we just go through this right now as we're about around time that you go to great program steve rose kicks us off for the next segment and with great program with all the other technical analysts so in this particular context the daily went to a cell mode i said i cannot wait until friday's close to see whether the weekly i have to wait until friday's close to see if the weekly charts got upgraded even for a self-sufficiency of that even the s either down but the qqq is not acting like it should so but the day all the daily charts are in cell modes the weekly charts have helped extremely well and we don't have to see what happens this friday so that's what i'm saying on the shorter term still negative the intermediate term i haven't got signals yet to say