 The following is a presentation of TFNN. The Tiger Technician Hour with your host, Basil Chapman. Call now. Call free at 1-877-927-6648. Good morning, everyone, Basil Chapman. On this Thursday, the 27th of July, I just want to show this chart immediately. Here is the one-minute e-mini chart, and we're looking at the sideways mover that went to a peak for the doji candle than an H pattern, the lowercase H, than a larger H pattern. And now it's testing the lows. And if it starts to take out the left side of 802 this morning, that's two minutes past eight eastern time, of 44-24-50, now you've got to look at it and say, okay, you've got resistance at the 46-28 to 46-30 area, and it's kind of open to the downside, at least in the very short term. But most importantly, that's the near term of the one-minute chart. The 10-minute chart, look at this. From that Fed meeting announcement yesterday, look what happened. The 10-minute e-mini went a spiked up, did the Eiffel Tower once, started to do the Eiffel Tower again, and then held beautifully. The nine-period moving average deposited at 350 at 10-4. Now come on, 10-4. What am I looking at? Yeah, 10-4. And since 45-92, up until all the way through to where we are right now, having gone to 46-34-50, we're now at 46-24-50, that green nine-period moving average is still positive. Now, why do I mention this? Because I'm anticipating, even though I was wrong, I was early in terms of the dominant, all the indices right now. Let me see if I've still, no, I haven't got that chart. I'll do it in the show a little later on, because I've got a number of questions. I think we're making a very short-term top right here, just in terms of inch a day, and we'll see if that carries through in a 10-20, because the second part of the session kind of starts. And we'll see. If we slide, if the dow goes negative and starts to hold the minus 40 at any point today, I think we've made some kind of a top that says, now there should be threshes to the upside that fail, and slowly we'll start to make lower highs. And I'll explain why I'm saying that. Look at the price above. It missed by one point. Let me give you the exact number. 3563.61 was the high yesterday. 3563.19. So let's take two points off this recovery high. There's a chance that you make a Chapman wave two-bar reversal, but wait a minute. One of the things that I ignored to my detriment was something I... I went against my own techniques purely because we made that peak D there, and I thought, all right, that's usually where we started. We got a big sell-off at 34,586 on the 16th of June. We should start to see a sell-off here. But I kept saying everything of that, even had a good part of a show, and I discussed this with Tom and Brian saying, the price is way above the nine-period moving average. The nine is way above the 40. To see the green go pink, you'd have to see the down probably below 34,500, 34,300. So as it stands right now, it's going to be a process or very bad news. Well, the market has climbed a wall of worry. Suddenly, all that worry has lessened. So is that now the counterpoint where we don't have a wall of worry to climb? No, I don't want to look at it like that. It is there, sitting there. What I want to say is there's a rotation going on. I'll talk about the rotation as we get there. But in the meantime, to see the start of a pullback in the Dow, you'd have to see at least one or two closes below the 35,213 nine-period exponential moving average. That's number one. Number two is if you're looking at the S&P, there we go, S&P, very much above the nine-period moving average, 90 is above the 14. The MACD is good, but it's starting to narrow. The stochastic is good at 90 percent. The on-balance volume is a little overboard. So here again, it has to be a process or very bad news. Just filters the market and it stays there. As I said yesterday and the day before, they've got to be there and be persistent every single day for about a week and a half to really see this market start to drop precipitously. Okay, that's number one. Number two is within the context of I'm not even talking about the weekly charts. All of the weekly charts are really strong. So that's why we've kept corp long positions in the Dow, one from 2020, another one from 2023. We're just keeping these as corn. We trade around them. Neat time back at the ranch. What are we looking at? The QQQ, which wasn't acting as well as the others because it made a high at 387.13 on this 19th, 19th of this month. And even with today's rally, it hasn't gone above that. 384.71 is the high. And if you look at the nine-peer moving average, it's slowly making an M-shaped pattern, but that black 14-peer moving average is still rallying and the nine is still rallying. So you have to wait until they start to decline. They haven't done that yet. Mac, these weeks, the cask is very weak. It's 59% on balance volumes a week. But the 914 is the technical indicator of last resort. Like the Fed is the bank of last resort. So the 914 for me is. So the weekly chart fabulous, monthly chart fabulous. Let's go to the SMHs. SMHs are same as the Dow, but they have got an island reversal to the top. I suspect this will be full then over the next three weeks. But in the meantime, 160.79 was the high. I think it was on the 19th and today's high is 160.06. Only a less than a point away, but we're going to have to watch this closely. The weekly and monthly charts are still very good. Well, let's go to, now, gold. My price is all wrong. Mine says up 14, but it said 1984. Obviously yesterday's close was at 2009. This is down very sharply. And the GDS is also down sharply. The GDS is at 30.73. And as I see it right on the 200 period moving average. And that's just me. We're in a phase right now where you cannot, as we're talking, the dollar just went to a new recovery high. Leg C, that's what I was saying. 101.82 to 102.3. If it starts to break that resistance area, that means the dollar can keep moving higher. And that's the reason why I'm saying, even though I was wrong on an attempt to get some kind of reversal in the market in the Dow, I think we're really close to starting the process and it's going to be a process. So that tells me the dollar. And I spoke about this on the weekly basis. We are all along the dollar away from 2018. That's not the price. That was a date and taken a little bit off. But we still got a core position. And here it is up 66.66. And you're looking at the euro. Right now the euro is trading at, try to rally then it failed. It's now at 1.103 down 0.008. And that was a peak D top that we were looking at in the day. And I believe we're going to see a weekly peak D top. That means the USDJPY, the Yen should be rallying. And it is rallying, but it's not acting anywhere close as well. It didn't act better than the dollar. It didn't act good. Now it has to play catch up. I think it's silver that I know. I think silver is down strong. I'll be back in 2007. 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. 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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. Here's a question. If you have time, could you look at Microsoft please? Will it even out here? Always ahead and high or low? Thanks. I have an option that expires next Friday at the 3.40 call. Now, I always get mixed up for the decades and decades that I've been an American citizen. When people say next, when I say next, I mean, I'm skipping this Friday and I'm going to the next one. But many people say next meaning this very next Friday. So, what I'm going to do here is I'm going to say I'm thinking that it's this Friday. Let me just say this is August. Oh, yeah, the 18th. Okay, so it'll be this coming Friday. So let me do this right now. Microsoft, I'm talking about the dating chart because you were talking about it within a day. So I would do this. It was looking okay three days ago. Then of course came out. It's been going low and low and low and then it had a very ugly day yesterday and it's trying to catch up, but it didn't work out too well. It's down to $20 right now, 336.82. One of the reasons why I looked at Microsoft the other day and I said, I'm calling this an F slash B in the dating chart, but everything about it, except for the nine-period exponential moving average, which hasn't yet crossed negative, the MACDs turned down, the stochastics turned down, the unbounded volume is turning down. It's just a matter of time before the price catches up and the nine-period eventually slips to the downside might take a week or two. I think it's very close to doing that. So I'm going to suggest that if you have some premium left in the 340 call and it's trading at 336, the downforce that you've lost your premium plus you're losing the four points. I always say, I haven't done this for quite a while, but I think in the options market, the moment something goes against you, the best move you can make is to fire first and ask questions later. This has just been my experience and I've learned that and it's helped me certainly my subscribers. I don't ever move stops around. I just put a stop in and say, okay, I'm going to give it just a once in a while. I'll say, instead of adding another stop, if we get it out, I'd rather expand this and you know, almost every single time, if I'm wrong in saying that it's going to go a certain way, it means I'm wrong. So I don't want to add to the wrongness. That's a silly. So I always say, keep the stop or tighten it up or get out and let's do it that way. So I'm going to say to you, I could be wrong. You have to take this just for what it's worth. I'm saying to you, there could be a Friday turnaround in Microsoft, but to get to 340 from 336 right now, that is a really big ask. If it couldn't do it today with that gap up to the upside where the short squeeze was on and you had certain stocks that really came back like the AI stocks that had been just decimated. Some of them over the last couple of days and had really one got very good earnings, which we actually own, but we just missed today adding by a few cents. We wanted to add to our position, just missed it and others. But this is in a different category. This is AI, but it's now AI that has, it has a little bit of overhang with other areas. So I'm just going to say to you, I would exit and then you could, you still got money. I would rather you exit with money than without money. You can always do it again a little later on, but at this particular point, you see the way it did exactly the same thing at 351.47 earlier in June that was round about the June, it was the 16th of June, but then it held the green nine-period moving average held on every single decline. Even there was a lower lows and now you can see the black four. I actually have done a lot of work on this. I've had a couple of breaks, just breaks away from the office. They were working. I wouldn't even call them working vacations. There were just, for other reasons, I was out the office. Spent a lot of time on this and it's always a learning process. I mean, I couldn't even tell you how many thousands of trades over the years and years and years, but that's not the issue. The issue is you're always learning because the market is just giving you information that sometimes you overlook and the one I don't want to overlook now is, look, on every one of those down moves, the green nine-period moving average was down, but look at the black 14-period moving average. Just one very brief moment where Microsoft went red on the 26th of June and then went right back to red in the price, but not the green nine-period moving average. The next day just continued higher and even with the two gap downs, which really looked like a dreaded age failure pattern early in July, it just went right back. So I think it's used up all of those momentary sparks of buying pressure. I think that's all, most of it's used up. It could have another one, but I don't think it's going to be Friday. It could be maybe next week. We're just attempts to get to the high that was made in the 25th couple of days ago of 351. Wow, you would love that if it's tomorrow. I actually don't think so. It's going to be lower lows, lower highs and possibly lower lows just for the shorter term. And that's what I'm talking about here in the market. I think we're looking at some of these really big high flyers. Am I going to go to Amazon right now? Amazon, yeah, big move up today. Will it take out the high that was made a couple of weeks ago? Look, it went pink yesterday for the nine-period moving average and today's back to green. When it does that for a day and then goes back to green, that's a much better pattern than having a follow-through with another pink candle, a red candle the next day. But it's got a pink C in the weekly chart. Where is, what am I looking at here? Yeah, that's right. Where is Microsoft? In the weekly charts already made this inverted, this doji candle. It's like a little mini hammer. Evening start could be any one of those candles. It depends on how you interpret it. I always say candle means nothing until the very next candle. And yeah, it is on a weekly basis following through to the downside. So I'm just saying it's a fantastic company. I think it's going to make all-time highs again in 2020. I just think it needs a little digestive phase. Hope that helps you. So what I'm saying is I would definitely, if you've got more than one position, I take something off right now. And then if you want to just play a lottery, that's one thing. But if you're looking at the price movement as its own, 120-minute chart. No, wait. This is good in a 10-minute chart right here. And remember, 10-20, I said, I think we start to see selling pressure in the general market. Oh, look at that. Look at that. Look at it. 46-18. And it's got that peak. Well, now the 10-minute chart in the, in the, there it is. 10-minute chart in the e-mini has gone negative. And what are we looking at here? We're looking at Microsoft. Oh, I hit the wrong thing. Oh, I hope I've messed it up. Microsoft. There it is. So Microsoft dreaded H to a larger H. If, if Microsoft takes out 333-14. If it closes into 332 for more than 25 minutes, I think the upside is extremely limited at this point. Hope that helps you. I'm sorry. It's, it's not, I'm sure it's not the news you wanted to hear, but that's the way I'm looking at it right now. Let's go to the next question was, and I didn't, I just didn't see this. Actually, I'm going to ask someone, anyone, could you just email me at 1000champon at fnn.com. I want to see if I'm getting my information here on both of the duties that I'm thinking of right now. Some of it's coming through, but I got a feeling that the late people who emailed me off, they said, I just don't get to see anything. It's going to have to die. I'll be there. Attention traders. Larry Pesevento, the renowned trading mastermind, is holding an exclusive live trading event on Wednesday, August 2nd. From 9 a.m. to 2 p.m. Eastern time, transform your trading skills with the real-time wisdom of a Wall Street veteran. Plus $295 gets you a front-row seat to this power-packed session, plus a month free of Larry's sought-after newsletter, Fibonacci 24-7, a $97 value. Elevate your strategies, decode the markets, and achieve your financial goals. Remember, this event will be archived for all attendees, and Larry only does a few of these a year. Don't miss this opportunity. 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TFNN, educating investors. Thank you. I got e-mails from Microsoft. It's now down a little bit more. There are a couple of things going on here. I missed XPV, I believe it is. This is an EV company in China. XPING, Inc. I don't think they say the X. Speng, whatever it is. Inc. designs, develops, manufactures smart EVs. This is a sector that I think has been doing really well. I got a feeling it's going to stall for a little while coming up over the next couple of weeks and then it starts up again. The reason why I'm saying is that some of these moves like Iruvian et cetera have had very strong moves but you know that they aren't going to make that kind of money just yet for the move in proportion to the PE et cetera that's being set up. You can even think of PE and stocks like that. This has gone to a leg F at 21.9, 21.83. Yesterday, today's high is 20.79. It's pulling back a little bit from the high. It's up 75 cents at 20.23. I know that you had mentioned it the other day and I think you had calls or something, GT. Yes, it's acting extremely well. I'd say take a little bit off if you're along the stock or if you do the options, but I would be looking at not getting out at all but I would definitely take money management profit from here. One of the reasons is look at the on balance form the way it's spiraled to the upside. When the MACD has the nine period differential, the green line, spiked very quickly to the upside, almost portends the same as an on balance. It's one of the few times I look at, I only look at on balance volume as key to overbought and oversold levels. You'll say in all the textbooks, they talk about the stochastic over 80% gets overbought under 20% gets oversold. That's the exact opposite of the verbiage. What you want is for it to hold over 80%. The longer it holds, look at this. Look at this weekly chart of XP and G. From the moment you got this divergence with the MACD holding so well, look how nicely it went. It follows the price, but the stochastic gave you that bumpy ride. The moment it went up into the 80% area. Look at this. Now it's sustaining the rally over 80%, especially over 85%. It's at 86% in the weekly right now. It's excellent. And that's what I've been saying about the Dow that I'm going against my own. I hate when I do that. It's the emotional side gets the better of me. Look, I said a flat stochastic is what you want. And even now it's holding well with the market trying to pull back. So I don't want to do anything other than to say, based on the technicals that I'm looking and observing, the XP EV has seen the stochastic lower. Now it's at 69%. The MACD had the sudden spiral to the upside. The nine period moving average is by any measure, the nine period moving average is still strong. The price is way above the nine. So that's why I'm saying, I would only use money management here. I wouldn't say, oh, this is a great time to short. Let's just look at Tesla because I think not in the company, but in the price. Tesla has a whole, it has baggage as well as a very big positive is going for it. So I've said that I believe that this big spike to the upside here with that gap, barely being filled and then going all the way to a new high of 300. Did it miss 300? Yes, it did. Oh, that's right. 299.29. Why did they miss 100? Come on, give me a break. 299.29. And then it gap down and it's having a tough time. And you can see for two days now, it's gone pink for the first time since it crossed positive back in June at about 163. It goes all the way to 299, turns around and right in the 2.69 to 2.63 area, it's gone pink. And that says Tesla's about to pull back. Look at Rivian. I got asked about Rivian Lake yesterday. So Rivian, oh, R-V-R-V-I-N-O-A. No, I do this all the time. Rivian. Oh, R-I-V-I-N. Long day. Lake D. And now it's starting to get a little toppy. It looks fabulous. I wanted it for subscribers. I just didn't have the courage just to say, hey, let's get it even with that gap. But I now think that at some point in the next three weeks, this gap will be filled in the 200 p.m. Rivian Average of 22 to 27 could become really good support. But I think it's becoming a little vulnerable on the daily. The weekly is still very strong. So I'm just saying in the EV sector, we might be looking at just somewhat of an overboard ride and they need to plug in to recharge. Let's see. For the next ride, departure soon at 11 a.m., the peaks will be visible on the horizon. With the permitting Tesla was a full house bezel, 29.29, great poker hand for Musk. Yeah, I must say, Musk is, you still plays his game just fantastically. I must say. But what he's done with Twitter, I get so upset. Of course, I've absolutely not, I'm not even an eye blinker because I don't even have Twitter or many of these others. I don't even do Facebook. But I don't know when they change the name. It never works out. Mondalees, who did it to this day? I just, what is our Mondalees? Anyway, so X, give me a break. X, who's going to use the word X? One letter to describe everything. Well, maybe three years time, they'll be saying X's and X that. But it's just, there's a whole other connotation. You don't want to usurp an alphabet letter unless it's A for Agilent Technologies or B for bonds. Those are good companies. Or C for a city group, which is coming back, or X for U.S. Steel. X, U.S. Steel. Very nice rally, peak A, peak B. Alternate count right now. Leg C. Yeah, the steels have been doing well. Look at NUE. I spoke about this the other day. Nice rally to recovery high. Almost all-time high, 187.90. They got to one almost 174. 13 points away. Less than 10% from an all-time high. So yeah, things are really working. So I'm just, I don't want it in the way. I'm just saying we could have a rotational correction. So I'm going to go to the question that I had. Could you look at your, look at the financials? XLV, there has to be select financial spider fund, made a recovery high four days ago at 35, 1771, pulls back. The next day goes, it goes just under 3569 and today's high 3567. So I like to always grab this by the top and bottom and just put in a rectangle right there. So okay, it's in a little trading band right now. The technicals are all strong. Stochastic's flat at 91%. I can see one more pop and then I'll pull back to the 3450, 3490 to 3450 area for a cast of strength. But this is great action. KRE was the next one that I was going to look at. Doji candle so far today, stalled just under the 200 period moving average. I discussed this. It hasn't been to the 200 period moving average, daily 200, forever, right? Just forever and ever. And here it is. The high could have 4956, 4935. Oh, oh, I didn't read the rest of it. So we've got a volume, climax, reverse and 34.52. I'll give it a second. 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. Market Insights provides the edge you need to navigate the markets with confidence. Ready to join the ranks of successful traders? 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Distributor Foreside Fund Services, LLC. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Hello, so KRE is the S&P Regional Banking ETF and what I had on the 4th of May was a 34.52. There was huge gap down. Big red candles for three sessions and then an even worse gap down where everyone said, I'm done with these, I am out of regionals. And we got a Chapman wave price volume climax. That's almost like the SCHW-1. That was slightly different. That was the one in May. March the 13th at 45 round number low. But that one did a retest at 45.65 and then it went on the street right now at 57. 57.36. So let's go back to KRE. When I say huge volume, it's got to be so big that it's just it's beyond anything. I don't want to give percentage or anything because you've got to put in relationship to the price movement previous to that. And this one was a monster move, almost 40% more or even higher than the previous big volume move. So I said this is one that should, and we did, we bought it for a little, we bought it and I made it stop but just a little too tight. And in the 37 and the 40, 40 or 41 area and then it retraced and then it started its big move up went to a peak demon Chapman wave where we was looking for the fourth ISP, pulled back, makes another ABCD and now it's in a leg E with a doji candle just under the 200 period moving 49.99 200 period moving average. That's the resistance now. And being there, I don't want to squeeze because I think I did the other day. It goes back about a year. So what's really important is that I see higher highs, higher lows, the price is way over the nine, the nine is way over the 14, Magna is strong, Stochastic is good and very good at 91%. On balance volume is being weak and that's one of the reasons why I didn't dive in at any point because I said I'm not seeing volume move with the stock. That's not to say it's not going to work but in this particular case, the nine was really the clue. As long as the nine is expanding above the 14, that's really good. So it's acting very well. That means that the weekly chart, let's just go to the weekly chart, leg B is telling you that based on all the things it hasn't, the nine has not yet turned over the 14 to turn green. It will very soon. So that just tells you that 49, it should be extremely strong support. I like what's going on here and that's the reason why I'm saying, I suspect we're starting to get individual stocks. Look, if it wasn't for Boeing, another big move up to that five, it's 238, going from this flat cup formation with a handle and then a breakout today. If it wasn't for that and triple M in the Dow having a fantastic move over the last couple of days, I think the Dow would have been stalling and I probably would have been in the right position and then from maybe Monday or Tuesday we'd start to see prices going towards the nine period moving average and then having another big spike to the upside with maybe one or two of the other stocks moving up, especially when Microsoft was such a drag. So it was actually a very good action on price considering Microsoft yesterday but it was also, this is what I'm talking about, if you have the instrument, the ETF itself and not the components, sometimes it's a little bit safer and you can have tighter stops if you're wrong whereas if you have an individual stock and it just goes against you, you're just kind of stuck but at times when you want the, for instance, we've got a new position today, a long position today, stock that I followed for ages and the whole group, not, they're in a medical group but they're in different areas of the medical group but this particular one has acted very well, I'd spoken about earlier on, about a month or so ago and waited, waited, I liked the action yesterday even though it's going to a leg D it should pull back so we've got split positions on this because I think it's in an area that could be a little bit independent of the market at this particular point and that's the way I'm looking at it right now the other thing that I'm looking at is so you've got all the the deadbeats, the ones that just didn't do anything, triple M I mean this is really nice to see that it's finally broken above it was this rectangle right here that is just a rectangle and cup formation it just was stuck and now it put his head above the resistance at 112, 35 yesterday went to the 113 it's just a good sign and it says, hey, now I could start to have a rally, I have done some things correctly, I did things terribly there were a lot of lawsuits and all that I've kind of settled that, so I'm looking at this and saying there are individual stocks that can do the job so that you can look at what's under the radar, so a question came in about Airbnb so this is under the radar in the sense that yes, perhaps it's an economic factor that we're looking at here but I think Airbnb has kind of they did things a lot wrong for a long time but my suspicion is in the main they've kind of got it right at this particular point and therefore this is an alternate count, G-C in the deity, everything looks like it should just be called the C, I'll put G-C only because it continued the count with the 9 period moving average not even going close to negative and the MACD not going close to negative so it's still looking very good and the question came in what is my longer term outlook my longer term outlook is that the 179 to 183 area is kind of a target in the intermediate term in other words I'm talking, when I say intermediate term I'm really talking three probably four weeks to eight or nine weeks and that just says to me within the context of Airbnb, ABNB trading up 283 153 right now it's acting very well and to get the 9 period moving average to actually a deity to cross negative you'd have to see a price moving to below 140 that's 13 points, it's almost 9% down, they can do it but you're going to have to have bad news in the market and I think we just got an overbought situation mostly in the market that there should be some kind of a digestive phase so yeah I like it very much so the question is I am long, where do we think it's going and my answer is Airbnb should make all time highs above 220 I'm not giving that a time limit although I'd say from the movement that I've seen I would say by February to March of next year if it has finally taken out 180 then that is absolutely game but that's the way I'd look at it and absolutely the close below 130 at any point in the next two months says I was stalling badly not if it's already gone to the high it comes back but I'm just saying as it stands right now that next question came in I hope that helps you looking at questions and I did that did I just do after all that talk that I do yes I did that that was XPV that was the EV okay XPV I don't know if I finished it because I went off on a tangent no I did I finished it off by saying I just take a little bit off here looking out this is in play but it has huge moves to the upside and then it takes a while as it comes down to rebuild strength because as you know charging takes a long time so we were looking at I'm right back to the final section and I did get that 10 back see yes back now we'll be back in a TfNN has just launched their new trading room the Tigers N hosted at discord TfNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours and now they are expanding their reach with the Tigers 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 in the Tigers Den you can look over the shoulders of Tom O'Brien and the other TfNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas interact with other Tigers and Tigresses as they share trading ideas news analysis and discuss the market action all trading 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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 thanks for watching and 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 tfn.com then hit watch Tiger TV hi folks so yes can the down make a new a 14th day with an up close I think they're going to try their best to do that it's the other areas I'm looking at but look at the SMH's so the dollars actually are now made even the highest up 68 ticks at 101.71 I think there's going to be pressure I think that's coming but I think that's going to be a rotational roll over look at the SMH's gaps up doing very well as long as the SMH's are holding very nicely I don't think that the whole market's going to tank until the SMH's are actually trading under 144 they're at 159 right now so that's going to be a clue for me looking at that is I'm looking about a daily trade okay so a couple of things that I want to look at here is Crude Oil did make that leg D we were talking about that yesterday there it is leg D the prices over the nine nine over the 14 way above the not way but above the 200 period moving average support of 76.89 and MACD is good the casings fabulous at 94% so Crude Oil is moving towards that 18.4 area I said could be a target to the upside we'll see if that occurs if that occurs we want to see what the yields are doing yields are going high because the TLT is breaking down as we speak it's got their dreaded age pattern but the 98.85 level is absolutely key as I was talking to you earlier about that's what if that breaks you're looking at the TBT probably having a sudden spike to the upside over into the 32 level and that is going to be very important we'll be watching that so I think the mark is getting a little toppy that's not to say it's stopping out but I'm just saying I think it's going to start struggling here so with that I'm going to wrap it up and check out and I'll be back tomorrow thank you