 and tools for analyzing this sector. Sign up today on TFNN.com, TFNN Educating Investors. The following is a presentation of TFNN. What you see with Larry Pezzavento toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, Larry Pezzavento. Okay, looking good, Billy Ray, feeling good, Louis. I posted the chart of the Russell, as you can see here. This is a relatively long-term chart. Goes back about seven or eight months, and you can see the high that we made so far today at 1896 was a 61% retracement of that high and a completed ABCD. I originally thought it was gonna stop around 19, excuse me, 1860, but it went 30 points higher than that, but it's been up in that area several times. So the risk there at that level was relatively small. There was a guest on CNBC today, Stanley Zuckermiller. You know, he, Dr. Zuckermiller, he is one of the guys with Jimmy Rogers worked with George Soros, and he told the story about the dot-com era. And he said that he was handling a couple of billion dollars for Soros, and he was short a bunch of six of these dot-com stocks and at $600,000, no, no, what was it, it was $200 million. At $200 million, he had to blow the position out. Remember, he's holding two billion, so he's risking $200 million, so roughly 10%, and he had to get out because of money management, and all six of those stocks went bankrupt. And he said he's always remembered that because it was a sign of bad money management and poor timing, but the right idea, and we go through that all the time. He also was a big proponent of artificial intelligence. He thinks this is the real deal, and the Bitcoin thing he's not so sure of. In fact, he was a little negative towards that, but it was interesting to hear him talk about some of those mistakes that he had made through the years. I wanna share with you some of the things that Larry Williams put out in one of his videos just recently because Larry does a really good job at cycle stuff, but here is his roadmap in his first time that Larry has been bearish in a long time, and what he's looking for now is a move topping right about in this area right here and then bottoming right around July the 15th. These are cycles that he works with. Remember, these cycles, they don't work all the time. The only thing that works all the time is prayer, and sometimes if you get that wrong, it doesn't even work. That was a little joke, folks, religious joke, I guess. Anyway, let's take a look here at this cycle that he's looking at here. It's a short-term cycle, of course, but his work is pretty good, and if you like short-term things where your risk can be controlled, this is what you wanna look at, and here is the pattern that he's watching is for a move to come down into right around July the 15th, and that's a very, very important spot to look at. Remember, folks, on the 25th of June, we have a big cycle date that Chris Carolyn has been talking about for several years, thinking it's gonna be something of dramatic nature, what that could be, we don't really know, but we'll keep a close eye on it. So those were two of the ones that Larry was looking at, and then also he brought out the point about the Federal Reserve, excuse me, for the raspy voice, folks. It's Palo Verde season here, and you can see that the Federal Reserve is basically following what happens with the thing. They don't always get it right. Even though they hand a lot of money, they don't always get it right. They do make some serious mistakes along the way. If you remember, negative interest rates was supposedly one, but you don't know what the Fed is doing, folks. It's a private bank with a private corporation, so it has nothing to do with the government, even though it's right on Pennsylvania Avenue. People confuse that with something that just really doesn't do this. But Larry had one other really neat chart about inflation, and I wanted to bring this one to you because this shows a very clear picture that maybe inflation is starting to move to the downside. We'll see that as you can see this level right in here. Now, if you remember on Monday, excuse me, on Tuesday when we first came up, we posted this chart of the live cattle futures, okay? Because we said you wanna pay attention to the live cattle futures, okay? Because we've just taken out a 14-year high. We went back here, 2014. We took those highs out. That was nine years ago. We took those out. And so what we wanna do is we wanna try to spot a place where we might be able to get in live cattle futures without risking very much. And let me just give you a bird's eye view of one of our favorite patterns. Yes, Johnny, I'm going to be talking about 382. So as you come up here, we're gonna take this chart up and we're gonna bring up the August cattle. And you can see we gapped up three points all the way up to here. And there was your 38% retracement right here. And then the market dropped and was down two points, two and a half, two points on the day. That was a four-point move in cattle folks with the risk of about 40 pips. That was one that we were sort of watching today that worked out pretty well. Unfortunately, they don't all work out as we well know, but some of them worked out better than others. And that's what we're really paying close attention to. I wanna bring another one. This has been one of our patterns that we've had for quite some time from our good friend, Jim Bartolioni. He'll be on next week, but he wanted to alert us to this pattern that we've been looking at in natural gas. This is the ETF for that, the UNG, as you can see. And we've just had a nice profit in our natural gas contract that we put on four days ago at 2.15, back on last Friday. And we got out of it today at 33. We made a very nice profit in that, which was nice. And so we'll see whether that's going to happen. Today, the gold market went up and made a slightly higher eye by a dollar. Remember, the 382 retracement was 1983. We went to 1984. We've dropped $30 to the downside on that, folks. So that's a situation where it goes up, exceeds the Fibonacci number by a dollar, a dollar and a half, and then just gives up the ghost. And when you see that happening, that tells you that something big is really moving in the direction that you'd like to think it's going to go because we believe we're gonna get down to 1905 in that gold market eventually. The only bugaboo that we've had today, folks, is the fact that the dog-on soybeans are getting stronger and stronger. Wheat and corn are weakening, which is good because we wanna buy both of those. We were able to buy wheat at the 382 last night and the market rallied 13 cents to the upside and we raised our stop to break even, which was the thing to do because immediately down it came. And so that's why we're watching these. And we got this big report coming up here on June the 9th, which is Friday, and that'll be an interesting one to pay close attention to, of course. So those are just a few of the things we're watching here today, but there'll be a lot of fun. Remember, folks, this thing that's going on with Bitcoin and the government and stuff, don't get too confused about that, folks. These folks with the Bitcoin got a lot more money. Well, they don't have more money than the government. They have better paid attorneys. Okay, let's take a little break. Eight, seven, seven, nine, two, seven, six, six, four, eight. We have exciting news, Tigers. This June, Tim Ord of the Ord Oracle will be hosting two webinars, providing insight into his renowned market timing methodologies. On June 8th, Tim will delve into the S&P 500, teaching sentiment indicators, identifying market bottoms and divergence, and so much more. On June 15th, Tim pivots to the gold market, taking a look at cycle analysis, ratio studies, advanced decline indicators, and other important tools for analyzing this sector. Sign up today on TFNN.com. TFNN, educating investors. 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. 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. 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Get Tom O'Brien's newsletter, Market Insights today, and try all of our products and newsletters 30 days risk-free with our money-back guarantee at TFNN.com. TFNN Educating Investors. 30 at 1-877-927-6648, internationally at 727-873-7618. Okay, Rebecca, folks, I posted a chart of the August gold. You can see how many hours, this was an hourly chart, as you can see here. We stayed up here for quite some time at the 61% retracement, and then we go above it by $2, and with a beautiful ABCD pattern measuring within a dollar that high, and you can see the quick reversal. And then this has been a $30 move to the downside. That sets up. If you remember, we've got this bigger ABCD that comes in down around that 1905 level. That's gonna be a really interesting one to watch. Hopefully, I'll be able to, I'll be able to show you what this picture looks like in just a moment, because I think we've got it lined up here. Yeah, there we go, we're almost there. Bear with me here, folks. This is the one that we're gonna be watching. This is gonna be a real interesting one here. Hold on here, I'm getting, there you go. There's where we're looking at, 1905, right down in that area, which is where we think we're going to be. There's your 382 retracement, and then you came down hard. Remember, this one was up here at 98. We covered it at 62. Put it back at 80, and we're looking at 1905 here as a possible. 1905, 1915, that's really important. And remember, this will be equal to the same move that we had back here. That's that similarities that we see in the market quite a bit, and it'll be a 382 all for this low, way back here. So that's it. The only thing that I just can't understand today is the soybeans. They just keep wanting to go higher. Luckily, we're not involved in the wheat and the corn right now, we've got orders setting in, quite a bit lower to buy those, but the soybeans are up about 12 cents, just liking to taking off to the upside, which they do quite often. So that's not a big deal, folks, because there's always a new bus coming around, and you'll be able to find one. I've been asked to bring up that chart of Apple that I posted the other day with that reversal signal. That came from eSignal, one of the people that posts stuff for eSignal, I don't know where they come from. Just a minute and I'll get this chart up so you'll be all be able to see it without too much trouble. Instead, I could just talk about it. You'll see that we had all those ABCDs. We went through all of those and they measured, if you remember, they measured to 185, it went up to 187, I believe, and now it's had a big reversal with big volume on some of these things. And also the NASDAQ is very weak today. Couldn't quite make a new high today. The one that really was the big winner today so far has been the Russell, was up one and three quarters percent, up at that 61% retracement, but there's still a lot of time to go with the rest of the day. The S&P, we got back to near our buy price at 40, excuse me, the sell price at 2.30, 4.303. And then we had our stop, of course, was 15 points above that. And now it's broken and now has 30 handles, at least it did a little while ago in our favor. So those are some of the ones that we're really paying close attention to. But the grains have a lot of opportunity here, folks. The $64 question is, are we going to reach some of these levels? And that's gonna be really interesting because what happened today, and I wish I kept the chart, but unfortunately I didn't. And that was the wheat chart because we're in December wheat now, folks. That's the one we wanna be looking at. And we've had a tremendous rally. We've rallied over 70 cents. And last night we came down and hit the 382 at 652 and it rallied up to 666. Well, that's a 14-cent profit and we were only risking eight cents. So that was double. Now it didn't, we didn't take profit, but I said, put your stop at break even because if it gets below that, something's wrong. And it did. We went in at 652, it rallied up to 666. Ooh, that's a very important number. And then it came back to 652 again where we said to exit and now it's trading eight cents under that at 644. These numbers are important, folks, because when they work, they look great but when they don't work, they're great because it tells you that something has changed and something's wrong. That's really all you're looking at. Even with this big move we've had in the NASDAQ today, we had a 382 retracement in the NASDAQ. It was down 130, it rallied up to be down less than 100 and that was a 382 and then it was starting to make new lows again. So remember, it's not how much money you make, it's how much money you don't lose. That's the whole game. Now let's take a look here at this chart from our good friend, Jim Bartolioni. This one I really like, this is the Shanghai market which is the Chinese stock market and it also is the big one for the tech part of the Chinese sector. You know, there's several different sectors but this is the big one right here and you can see here we had this giant run up and then we had the 61% retracement and now look at these lower highs folks. There's your 382 right here. Okay, and there's your another 382 right here. So this market is in a downtrend and all it needs to do is you can see this trend line that Bart grew here. Once we've cracked through that trend line, in other words make lows from last two weeks, that's gonna take us down to some really, really low prices. If in fact it'll do that. Now that's still early in the day but that's what we're watching here in that Shanghai index. I've never traded it. I've never traded the Hanx thing even though I look at them and pay attention to them. I haven't traded them. I'm busy enough doing everything that I'm trying to do with the grains and the crude oil and the S&P and the Russell and the Dow Jones and the whole bit. It gets pretty pretty and even cattle today were quite wild and stuff. And by the way, we talked about live hogs yesterday that July hogs did rally 12 cents up to the 382 retracement and that stopped it at 89 and it's trading a couple cents under that today also. So another one that is very, very important from that strategy standpoint. But remember, I want to bring this to your attention because this is really important because the news was so bullish on this. This is a potential and in order for this to be a double bottom, Apple has to get below 155 in order for the double top. I mean, we went and made a higher high by just a fraction here folks. I'm talking about less than a point. So that confirms that as a double top and then you had the double reversal where it took out the last two days. This is a weekly so took out the last two days. That is a reversal pattern and that's when you want to start looking for the 382 pullbacks if you're ready to find something like that. Now, when we come up to our break here which will be very, very shortly we'll have Jeff Huge as our guest. Hopefully tomorrow we're going to have Mike Moore of Moore Analytics will be our guest. And on Friday, got somebody special if I can just verify it. We're going to be right back with Jeff Huge of Alpha Insights folks. 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 Pesavento 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. 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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. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Okay, we're back folks and we're talking with Jeff Hughes of Alpha Insights. How are you doing, my friend? Yeah, I'm doing very well, Larry. Thanks for having me on the show today. It's my pleasure. It's just amazing. You get the NASDAQ is down one and a half percent of the S&P's down and you got the Russell straight up and the Dow Jones up. It's just really a bifurcated market and you're gonna tell us where we are in the cycle. So please take over the mic and show us what you're looking at, my friend. Sure, you know, with respect to your comments on the rotation in the market, I think that's just what you're seeing. I mean, the money's coming out of the NASDAQ and the S&P and it's really out of those tech titans if you will, that have kind of carried the market all the way and it's gotta rotate somewhere. If you look at the valuation disparity in some of these smaller mid-cap names, and then some of the Dow names, some of the more value and cyclical centric industrial names, that's where the money's rotating because it has to be in equities. It's gotta go somewhere. But what ends up happening is the rest of the market just kind of follows the big stocks down. And what we wanted to really highlight is where we are in the market cycle right now. And this is a turn to spin around from some time. It was published by a professor out of Hofstra University years ago, but it's very intuitive. And we're definitely not in the stealth phase and we're definitely not in the awareness phase. And I think it's very clear that the mania phase is behind us. That was the period between late 2020 through the January 2022 highs when media attention around Kathy Woods' ARC fund and disruptive technology companies and SPACs and crypto and the new tulip bulbs of the 21st century, right? And the level of public action in the markets with respect to using Robinhood accounts and trading zero based expiration options, this is all behind us. And what we saw was a crescendo back on January 4th of 2022 where the market peak and the decline into the October lows set up a terrific bull trap in my opinion. Then it got so oversold that everybody came in and said, this is the bottom and they piled in the stocks and we've rallied them 20% off the lows, right? And that's in P terms, but in reality, the average stock is up nowhere near that and the average stock is up half of that, right? 10% rally after a 27% decline. That's about a one third retracement, not a big deal, very normal. But we're back to this point in the market cycle where people think the coast is clear. The Fed's gonna stop cutting rates. They're gonna start or stop raising rates. They're gonna start cutting soon. Burning's estimates have stopped going down. Stocks are starting to break out. Apple made a new high. Everything's great. They've got a new theme to glam on to with artificial intelligence and things of this nature and everybody's left their guard down. And the problem is that's right when the market is at its most vulnerable point and we put a blue arrow where we think we are right at that turning point. And I think the price action you're seeing in the NASDAQ 100 today is really congruent with what we're talking about here. It's indicative of this rollover that's beginning. Right as the NASDAQ 100 has reached a 61.8% retracement. Oh, wow, this next start, this is really talk about a spike, holy cow. Tell us what this one is, Jeff. This looks like a cardiogram for somebody just by ready to take the final plunge. This is a, wow, that's a really a big spike. It's illustrative of what I just mentioned. That is the largest inflow in the tech stocks that we've seen it in the last 20 years. This is really fund flows. This is real money. Yeah, this is institutional and retail money just measured by fund flows going into the technology sector stocks in that ETF, right? And these stocks are overhyped, overvalued and it's clear at this point that they're overowned. Everybody owns these stocks and this was basically published, I think about a week ago or so just as the market is making these new highs, following the big AI hysteria with NVIDIA and some of the other stocks citing demand from data centers for their AI chips, right? And so this suggests that people are all in this trade and again, they've let their guard down. Well, that's for sure. Now, do you have an opinion on the AI phenomenon, Jeff? One of our listeners is asking that question. Yeah, yeah, I do. I think it's probably gonna be the next big thing in the next 25 years, just like the internet was over the last 25 years, but it didn't happen all in one month or one year. It took 25 years to evolve to what it is today. And there were some big opportunities that came and went with that, but if you recall over the last 25 years, we had some of the biggest crashes in the market, in market history, right? We had the dot com unraveling, the tech rec, we had the great financial crisis, we had the 2016 event, then we had the COVID crash, not to mention the 2018 event. So there were a lot of big corrective actions in the market that was unfolding. And I think you're gonna see the same. And it all kicked off at the very beginning when this hysteria, when they realized that the emperor had no clothes, right? That it was a lot of hype and a lot of discussion, but there really wasn't any substance behind it for a decade or so. Yeah. Jeff, I was watching CNBC today and they had Stanley Drucker-Milleron and he was saying what happened to him at the dot com bubble. He had $2 billion he was trading for George Soros and he had a net loss and that $2 million of $600 million in seven stocks. And he said he had to blow it out because of money management reasons. So he got blown out and he said it was within one day of the high and he said six of those seven stocks went bankrupt. And he said he never forgot that trade. He said that's the one that's always haunted him because he didn't use the best money management on the way out. But it was interesting how it didn't affect him very much at all. He said he got right back on the horse. But he's a big, big proponent of AI. He really thinks like you do that it's the internet revisited for the next 10 or 15 or 20 years is what he was saying. So we'll certainly be keeping a close eye on that. Let's move on to our next chart here because all of these are, I really liked it when I see things like mania is like that big spikes. They mean a lot to me because you don't see them that often. And when you do, you know that it's some type of a flagpole effect. Here's the next one we're taking a look at. You want to tell the folks about the earnings and the market caps? Sure. So we looked at the top tech titans in the study produced by Ned Davis research. And I apologize to miss sourced at the bottom. I put stock charts and I changed the chart I didn't update that source. So this did come from Ned Davis. But you know what they did is they took the top nine market cap technology stocks in the United States. It's Meta, Amazon, Netflix, Microsoft, Apple, Google, Adobe, Salesforce.com and Nvidia, no particular order. But what they did is they aggregated up the market cap as the percent of the S&P 500. We'll come back to this one after the break. We're going to take a break and pay a few bills for TFNN. We'll be right back folks with Jeff Hughes of Alpha Insight. Stay tuned. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. First time subscribers also get a 30 day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com, educating investors. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights, is published every morning when the market's open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at TFNN.com. TFNN, educating investors. Biotech is booming, but for how long? Whether you think the Biotech bull has room to run or has run its course, trade LABU or LABD, Directions Daily S&P Biotech three times bull and bear ETFs. Visit DirectionInvestments.com slash Biotech today. An investor should consider the investment objectives, risks, charges, and expenses of the direction shares carefully before investing. The prospectus and summary prospectus contain this and other information about direction shares. To obtain a prospectus or summary prospectus, please contact Direction Shares at 866-4767-523. 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, we're back, folks. It was Jeff Hughes, Alpha Insights, and he's gonna talk to us about trader sentiment has never been more bullish in here again. It's another straight up chart. Sure, let me just finish what I was saying about that tech market cap versus earnings. Just that the market cap's gotten to about 27% of the S&P 500 again, for the third time in the last three years. And the first time it got there, earnings were right there around 26, 27%. Now earnings are only 16% of their contribution to S&P 500 earnings. The spread between market cap and the earnings contribution is now three standard deviations above the mean. So it's something that's beyond just price but it's the fundamentals are deteriorating in a big way between that disparity between valuation and price. So to your point about this trader sentiment, never being more bullish, we actually just record S&P 500 call option volume this last week. It was quite a safe to see. And I think what it really speaks to is just the absolute level of optimism that abounds in the market. Where investors are basically buying call options at a record pace because they're so excited and so pulled up on this new AI revolution and potential bull market. But bear in mind, we've only retraced 61.8% of the entire bear market decline at this point. That is the single most common retracement point. And that's exactly when that sentiment shift occurs and that's why we're so concerned right now about where the market is relative to its long-term cycle. You know, I pay a great deal of attention to that number because that Fibonacci number is 618 because we hit it exactly in the cash S&P and also in the E-mini futures. Of course the NASDAQ was often flagpole land but the Russell today made that same number. Jeff, it hit the exact 61% retracement at 1896. In fact, I have alerts on and when my alert went off, I said, what's wrong? And then I looked and I said, because I thought I had turned everything off and it was that one thing that I had hit and it's backed off a tiny bit from that level but the fact that it was able to make it with so much volume and people, you know, they couldn't get enough of this stuff. You know, a year and a half ago and then it goes into a very, very strong bear market and just as soon as it starts breaking out, everybody wants to buy it again. I guess it's the herd following the herd. But anyway, I just thought I'd throw that in about that 61% retracement. Now, this is- Well, you're absolutely right. I'm sorry for interrupting, Jeff, but let's talk about this. Okay, so, you know, I put this chart out there repeatedly just kind of, we're monitoring it tick by tick, day by day. And, you know, it's a very, very set up in the S&P and to your earlier point, you know, we did hit the 618 retracement from the closing high to the closing low in this bear market, from the intraday high to the intraday low, there's still a few points left to go. We could actually trade up to just under 4312 is where it comes in in the cash index. And we got up to just under 4300 so far. But what we're noticing is that today's high, as long as it remains, you know, unchallenged, as long as we don't take out the June 2nd high, that would actually be a tweezers top, which is an interesting technical point. But we do have a throwover from that kind of converging sort of set of lines in the final run up here. In fact, we've labeled it way C of Y, and we see a convergence there. And we've got also wave Y, wave Y of two that is also converging. And the other thing that I think is really interesting here is that they are both fractals of one another and of the larger degree pattern, which is a very common sort of arrangement in Elliott wave parlance. And so when we see that, it gives us a lot of confidence that what we're doing is we're kind of winding lower and lower and lower until we finally get to that peak. And that's where we're at right here in our opinion. Certainly within 20, 25 points of it, if there's any gas left in the tank, but my suspicion is we're gonna break hard to the downside. And if we get below that level that was the prior wave A of Y, which comes in just below say 41, 86, I believe, that is gonna be pretty good evidence that we're breaking to the downside. Once we get between say below 4,054,040 that range, that will confirm that wave three down is in progress. And in our opinion, that will carry the new bear market lows that are significantly below the October lows. Yeah, well, it's gonna be really interesting. I heard Stanley Druckermiller, he's very, very sure for the next 18 months. He thinks it's gonna be at least a 30% drop. Now, I wanted to bring up a little commercial for you here with your monthly newsletter. I think it's about $10 a month. It's the best 10 bucks you can spend, folks. That's less than a tip at a nice restaurant. But tell the folks about the newsletter and how they can get it, Jeff, because this is really worthwhile. Absolutely. So our newsletter is published on the Saturday that follows the jobs reports. The next publication is July 8th. We just put one out on June 3rd. And it's affectionately entitled, Huge Insights, the Big Picture, Inside the Newsletter. We cover a lot of top-down sort of macro sort of things, just like we've been talking around here. An interesting fact, we really delved into the whole AI scenario this past month. And I think that's gonna have some staying power for a while here. But then we get into our view on the market and we make our forecast and our position. And we give you some ideas how you can actually put your money to work. And if you wanna jump into Substack at hugeinsights.substack.com, you can find the newsletter sign up for it. It's free to subscribe. It gets delivered to your email box. And if you want to upgrade to the paid service where you get full access to everything, it's actually $12 a month, which breaks down to 39 cents a day. And gosh, if we can't make you more than $12 a month, then we should probably hang it up at this point. We've been doing much better than that. But for serious investors who really look for ideas and insight on the market, I think it's a great value. No question about it, my friend. And I really enjoy watching your charts today. And I pass them on to my associates that have an interest in it too. So we'll have you on again really soon, but keep this great work coming up. Wonderful letter, look forward to it right around the fourth of July time period. So I will have you again probably in another week or two before the fourth of July, if that's okay with you. Sure, anytime, Larry. Okay, thank you for joining us, folks. Jeff, I really do appreciate you coming on. So it's Jeff Hughes, Alpha Insights, folks. He's a real pro. Oh, you bet. Thanks a lot. You bet. Okay, folks, we've got to take a break here, I think coming up in just a second here, about 54 seconds. When we come back, I want to talk to you one more time about the overall situation in that Russell, because that has taken a lot of steam today, folks. It's had a huge pattern completed. And if we close above that, and we have to close above it, then that'll tell you that, oh my goodness, that maybe this whole thing is for real and they're going to pull everything up, the bathwater and everything else. But we'll do one thing at a time. So we'll be right back and talk about the Russell. So stay with us. 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. Get the opening call newsletter by Basil Chapman in your inbox every day. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com, educating investors. Everything in the universe is governed by the Fibonacci sequence. 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This June, Tim Ord of the Ord Oracle will be hosting two webinars, providing insight into his renowned market timing methodologies. On June 8th, Tim will delve into the S&P 500, teaching sentiment indicators, identifying market bottoms and divergence and so much more. On June 15th, Tim pivots to the gold market, taking a look at cycle analysis, ratio studies, advanced decline indicators and other important tools for analyzing this sector. Sign up today on TFNN.com. 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, we've been asked to take a look at the daily chart of silver from one of our listeners over in Wichita, Kansas. This happens to be, you can see the 382 retracement. We took out the previous days high by just a little bit still within a penny or two of the exact 382 retracement. What we're looking for folks is a similarity move between this swing right here and this swing right here, which is going to take you down about $2 more in the silver market, bringing you down to about this level right here. Now at that point, you're going to have a 135 pattern. You're going to have a one at the beginning of the chart. There's your three and there's your five. And that's going to be, you're going to have perfect symmetry just like we're looking at in gold at 1905 to 1915. We're going to be looking at silver $2 lower down in this area right here. Do these patterns work all the time? No, but the one thing they do do is they quantify how much you have to risk to see if you're going to be in the darn thing. And that's why it's so very, very important. So let's pay attention to that because these markets are jumping around quite a bit, but if you follow them closely, I would try to do the best we can. We've sort of messed up in the Russell to begin with, but so far it's come back in our favor. Whether that'll continue or not, the S&P is still working great. I just saw a trade flash over here at 42.72. That's down 30 handles from where we sold it on Friday. And so far, this is what Wednesday. So we had three down days and now it's a little bit oversold, but we're going to see what happens. Remember, there's some really strong support down there at 41.30 in the S&P. That's a very, very important 38.2 number that needs to be watched closely. So let's remind ourselves, folks, it's not how much money you make, it's how much money you don't lose. And that's what these patterns are for because when they fail, you go on to the next bus, put a quarter in, you're going to find your true love. Live every day in an attitude of gratitude and may God bless.