 The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now Larry Pezzavento. Okay looking good Billy Ray feeling good Liz here's where we were yesterday folks if you remember we were on the air and I was saying we were going to buy this little pullback right here on an hourly chart here in the treasury bonds that came in at the 110 level overnight we only got as high as 110 15 which is a $500 I sent the video out on this in the middle of the night saying you had to have your stop below here because if we went below that we were most probably going to go down a lot lower and in fact that is in fact what we did the reasoning for this folks you can see here that we have taken out the lows of the contract from way back here on October the 6th that was that big bottom in the stock market if you remember so we did take that low out now whether that's going to be a reversal low I don't know but what I'm watching and what everybody else in the financial world seems to be watching is what's happening with the treasury notes I when those are those are the 10 year folks and 10 years and two years they're just going absolutely straight up and other interest rates are just you know really skyrocketing here and but the bonds are actually held up relatively well now here is the notes I want to get this up here because you can see here that we did break and we broke down a badly there was yesterday's low you see last night we took out the low by just a little bit had a nice little tiny rally and then bang down again and you know this is a huge market folks so it trades off the ABCD patterns really nicely I mean you have to trade huge amounts in order to make anything because only $16 per tick but you can see on the bottom here you made some type of a of a little ABCD pattern here just a few minutes ago that when we made that low and the bonds down there at 10825 so we have made some type of a bottom in here but frankly looking at this on a longer term for timeframe folks you see we still got a possibility here which I really think we're going to get to which is here at this 10408 in other words down another two handles from where we are right now there just doesn't have the just the notes and bonds just they just don't have any friends folks and the reason why is we've been borrowing money for so long and now people are wanting to pay it back and we've got to pay it back at a higher interest rate the most embarrassing thing that's going on in the world today folks I don't know if you saw the news or not but we were really rebuked by the Saudi Arabis today Saudi Arabian company country they basically didn't do anything for President Biden as far as helping him and everybody is sort of moving against Israel in the war that's all politics stuff I don't really care about but the fact that Saudi Arabia after all these years of us protecting them has decided now that they don't need protection and they're going their own way this is going to be the death of the petrodollar folks in other words a US dollar banked in in crude oil and that is probably going to be switching over crude oil is actually a lot weaker than one would expect it to be given the fact that we have all this news that's going on let's just move this over for just a second here and we'll take a look at this one so we'll do gold in just a minute here but I want to do the do the December crude oil here because we were watching that yesterday if you remember and we said you know watch for those 382 retracements and here we are we're moving over to the December contract now and you'll see that last night we came within see how close did we get we got to within that was about 40 cents away but I believe the larger number was right on the money let's just draw this one from right here to this one right here from this high to this low we went right up to that exactly and then when we backed off here this pullback you'll notice from the low that we have to have to redraw it because we're at a different level we're going to go from the low from right here there it is right here that would have didn't even make the 382 retracement here all we did on this last night overnight and really stop and think this really backed off given the fact that you know they said that they were going to came down to a 50% retracement and now we're just moving around this market still looks higher folks it you know it's had nothing but higher bottoms and higher tops and I still think we're probably going to get up here at this 190 level and looking at this on the long-term daily on this you'll see that we do have levels that it could reach without too much trouble you'll see this is the spot where we are right now and I believe we are really close to a 61% retracement of that move and we've in fact we just hit a little while ago up here at 87.70 in the December so that is in fact that is a that's a garly sale but by the way folks there's a there's your abcd right here on the daily gee I didn't realize it moved that much there it is right 87.70 the high has been uh wow a whole dollar higher folks you see where you have to risk a dollar when you're trading crude oil look at this this move here is $1 from 87.70 to 88.70 and that's why you've got that you know if you're going to do that you have to risk a buck you just can't do it for less than that because if you don't risk see if you risk a dollar you still have a profit in it if you list 60 70 cents you got out with a $600 loss and you still don't have any chance at all okay now let's take a look here at the big daddy rabbit that's moving everything around here let's get up here with the gold market because we mentioned in the overnight letter excuse me the overnight video that we had a really strong probability of hitting uh 1972 and if we look at this on the long-term weekly chart you're going to see where we are there it is right here and if we move that over just a little bit you're going to see that that was an exact 78 percent retracement of this last move that we had right in here you can see it there's 72 the high was a 75 even so missed it by two bucks it's trading at 66 right now now this is a huge move folks we went from 820 uh that's 160 dollar move here in a matter of about eight trading days and so we're up in the area where we should get some type of a correction so what i would be looking at here is i would be going down to the four-hour chart and i want to be watching for the 382 retracements we haven't we've had one that was this one right here there was the first one right here there was that first 382 retracement we looked at yesterday okay and now we went up and we made that there's your 78 percent level right up here so that tells us we're probably coming into some type of resistance up into this area but still a little bit early to tell that because it didn't really back off very much if you look at this from this morning we're just doing eight-minute chart you see we broke down from 76 down to 50 which is 26 dollars now that should be a 382 off of something correct if what we talk about is true so we have the low back here of two days ago at 1920 we take that and we mark it and the 382 comes in at 55 and we went to 51 so it went a little bit below it didn't quite hit the 50 percent level and now we're rallying back strongly and that means we're probably getting ready you know to move to go higher so nothing's standing in the road to this one folks now silver looks a lot different it's had a bigger correction and has backed off a little bit but those are some of the things that we're really really really watching here today the stock market is really trying to hold together here we'll put up the stock market here for a second we went down made new lows let's just get this out of the way here we made new lows from our low there's where we were yesterday remember that big number we were looking at right in here off of this thing right here we went down and made that big abcd and now we're coming back and what we have to calculate Larry when we come back you're right Johnny we gotta look so we ate you we'll be right back Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 finishing at number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter mastering probability and you'll receive access to seven of Steve's educational webinars absolutely free at tfnn all our newsletters come with a 30 day money back guarantee so you have absolutely nothing to worry about visit tfnn.com and try mastering probability 30 days risk-free today tfnn educating investors are you ready to take your trading to the next level introducing Tom O'Brien's award-winning newsletter market insights your key to successful active trading Tom O'Brien renowned for his expertise in the financial markets has designed market insights to be your daily guide to profitable trades Tom publishes his daily market insights newsletter every market day before the market along with updates when warranted stay ahead of the game with Tom's real time analysis and trade recommendations delivered straight to your inbox whether you're a season trader or just starting out market insights provides the edge you need to navigate the markets with confidence ready to join the ranks of successful traders head over to tfnn.com and subscribe to market insights today don't miss out on this opportunity to supercharge your trading results market insights comes with a 30 day money back guarantee for all new subscribers so you have nothing to risk don't miss out on this opportunity to revolutionize your trading game head over to tfnn.com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter market insights first hand 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 keg stats tiger forex report teddy keg stat breaks down the forex markets every monday using his 30 plus years of experience as a trading veteran of futures forex stocks and options teddy releases his weekly tiger forex report every monday morning with coverage of all the major currency pairs including the dollar index the euro dollar pound dollar dollar swiss dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30 year t-bonds as they both influence forex markets tremendously when you sign up for the tiger forex report you also gain instant access to teddy 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 toll free at 1-877-927-6648 internationally at 727-873-7618 okay folks we're going to take a look at this s and p over the last two days we had that move yesterday remember that was this a b c d move that we looked at we can see it better on a four minute but i don't want to mess around there was a beautiful a b c d you can see that just absolutely gorgeous a b c d coming in right here uh then we had one other one that was right here really really a beauty now this is an eight minute what i'm going to do now is go down to a four minute to show you why it was so important because if you stretch it out you can see there's your beautiful a b c d pattern coming in here right now and that came down we had another a b c d pattern coming in right there and look what we just did folks we just had a 28 handle rally 29 handle rally in the s and p and remember one of the things we want to do is we want to go back to our last big high which way back here and see if that measures to that little old number that johnny's got there on his flash card up there he's holding it up and there it is 43 78 that's been the high of the move so far and it's also 61 percent retracement of this last move that we had right there so if we start getting above there this rally could extend farther but until that happens boys and girls we're still heading lower because all you did was just make a really nice move to the upside there's your 61 there's your 382 that was the area you want to be selling if you sold that you stop now it'd be 4380 you'd basically be in it with a free trade so that's what we're paying attention to here right now looking at this on the long term daily you know you can see we really haven't done very much at all considering there's war in the middle east i mean not very much has happened really it's uh you know the market's been going sideways in fact if it does have a movement to the downside you can see here we have a really nice abcd coming in here a little bit lower i think a four-hour chart would probably highlight that really nicely and there it is there's what we'd be watching so we didn't even take out the lows of the 13th yet folks that's a pretty good deal you know so this is what we'd be watching possibly if the war and believe me folks if aran comes into it all bets are off because then you're talking about and you know this is all all political stuff folks that you're dealing with here because of the fact that you know these people have been fighting for 3000 years and they're not going to they're not going to change this overnight the big thing is is the fact that Saudi Arabia has gone with the move to the side of aran which is very unfortunate for us and i think unfortunate for them but there again i'm off my softbox johnny i won't say another word but keep keep in mind that's that's important stuff that's going on the other thing folks so what you're seeing in the news believe about three percent of it and the other 97 forget about and then even forget about the three percent you just heard because i don't believe any of the stuff that's coming across there what people see in the uk and what people see here are totally different it's just really it's really amazing to see the difference of what's going on on these things that we're paying attention to okay now let's go back and we'll take a look here quickly uh on the uh i want to put my limit minder in here on the s and p here for just one second just give me one second here so i can make sure i put my limit minder on it not make sure this thing doesn't get out of control here okay now we'll move up here and i want to move on to the next one which was the uh hold on one second i want to give you a heads up here on the soybean market because we have a real interesting pattern here last night in soy beans you know we've been watching it and if we take up the daily chart here in soybeans we hit the high uh last night we went right up to the 382 retracement remember we were looking for that big bottom down in here and we rallied up and the high that we made last night was at 310 it went right to 310 and it stopped right there there was a 382 retracement so as long as so remember this is a one two three four five day rally so we should get a pretty good correction in that right now it's trading at 1304 and you stop if you sell this it's got to be right above 1312 so you're risking about seven cents and if it's right you know you should get a pretty good move uh one would think uh to the downside now we've had a request to take a look at silver get that look at several requests here this morning which uh makes my job just a tiny bit easier and uh hold on one second get the silver up here where here's where we are with the silver silver weakened uh quite a bit to the gold you can see here uh there's silver right now silver is just see silver to me is in the sales zone folks this is a this is a sale and i'll tell you why there's your high there's your low and you're setting right at your 382 right now at 2308 so i am going to sell it at 2308 and i'm going to put a stop at 2320 i'm going to risk 12 cents is what i'm going to do now the gold has rallied all the way back past the 618 retracement so it's much stronger silver's weaker so that's why i'm i'm willing to uh i'm willing to sell it okay now let's see if this low right here was a 382 off of anything and if you go back here the last low we have you can see right here this one is a 61 retracement that's a that's a third grade question right here there's your 382 that comes in exactly almost exactly it's a 61 retracement but this is the one we want to see because if that's at the 382 i don't think selling it here would be a good idea so let's just move over here we'll go from this high up to this low oh shut the front door and raise the red to the exact tick arena look at that boys and girls you can't make this up and there you go let me get out of this right now i'm just going to take a point and a half or a $75 loss in the silver and just get out of dodge hold on one second while i take care of this okay that's done $75 out the window don't want to mess with that that was a perfect 382 gee you talk about this stuff why didn't you buy it down there that only had 38 cents in it for heaven's sakes okay let's move on here to the next one that we want to take a look at which is nvidia i've been asked for a question about nvidia we talked about it yesterday the fact that that 425 was a very very important spot level we'll get this up here nvidia get the daily up because i know we went below that and we were talking about it yesterday here's where we are right now okay now if you remember this is what we hit yesterday if you remember we had that really strong rally right here and all we were doing is when we were looking at that we said this should be important support and you can see it was not so all we wanted to do yesterday looking at that going down to let's say a 30 minute chart we'll be able to see the rally there's the rally from 425 you see the rally came right up to this level right here now let's just see where it was off the last high from the high up here that we made at the 475 the 382 came in at 44 the high was 47 and we're now trading at 422 that tells us that we've got another abcd coming down in nvidia down here at around 410 and of course you know that still has great fundamentals behind it but right now the technicals are taking care of it so we should get down to this level around 410 here in nvidia and if we look at this on the little bit longer time frame on the daily you'll see that is below 410 is going to be down here know these old bottoms and that means we've got a big potential abcd to the downside here so i'm looking at that to see if that means anything maybe it does maybe it doesn't but that's what we're looking at here from the cheap seats here would be right back 877-927-6648 the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market the us futures market and the shanghai gold exchange the gold report tom obrien 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 obrien's gold report newsletter now at tfnn.com everything in the universe is governed by the 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didn't we went all the way down to 02 and then we rallied from 02 all the way up we only rallied 13 bucks which is not very much we took out the previous days high all i want to do now is to go down to a 13 minute to show you where we were there was the high we were the other day at 44 and you can see all the way down we were watching these you know for the abcd's we finally got one there's your abcd happening right now we'll just draw it in so you'll be able to see if there's a bcd now what we need to do is to check to see if it happened to be a 382 off of that high we made back here on the 12th and if you go from your high down to your low you'll come in you'll see that it misses it by quite a bit the high was 16 wow it didn't miss it by much misses it by $1.70 so it came pretty close but we didn't now what we've done here recently is just move around to the downside it's still still working lower it's it's bearish all the way look after we made the high you have the little bit of a rally a little bit of a rally it just keeps going down probably making 382 retracement as we go there's your high just like in the s&p hit it again boom down again so that's really what you're what you're trying to look at folks it doesn't always work but when it does work it keeps working until it doesn't work anymore and that's the real key now on i think this is wednesday on monday's show someone had a comment about morgan stanley because one of the the little young investment counselors there at bloomberg not bloomberg on cnbc was incredibly bullish on morgan stanley i believe it was friday because earnings were coming out today and she had her you know she and two of the guys there said look you can't go into the earnings because the stock is going down and there's no reason to really do that she says no i think it's going to be fine and here i just wanted to show you what happened i'm a look i make so many mistakes uh i don't need i don't need to be helped at all but look at morgan stanley this is this is where she was buying it right here you'll see this is where she was buying it here this was on the uh at the 12th so that would have been last thursday okay and had a nice move well not moves three dollars and then look what happened earnings came out today and were really bad now all we were doing is we were looking at the pattern that was here in morgan stanley you can see there's your first little garley right here from behind this is daily so you get to see quite a bit here there's your goes right up to the uh 50 level okay then we start to break and as you can see as we start to come down it gives you a pretty good idea of what direction it wants to go here look at this look at this little rally right here you rally for five days and i don't even believe you could even make a 382 retracement uh no you couldn't you misses it by about two dollars which is really quite bearish and of course here it looks really great yesterday and then today the earnings come out not so good but now this is where you want to be looking at it from the long side here's your here's your long-term picture since may look at this i mean you got a beautiful a b cd pattern coming in right here uh let's just measure to see how close i can tell you right now that it's beyond the a b cd just because i can see the 1.5 right here there's your a b leg right here there's your cd leg comes in here at 76 we're trading at 74 and your 1.27 comes in at 74 36 so this is the ballpark of uh where you want to be watching it there's your there's your fail so here's why we're coming down look at this we're really close to those lows in last july that's only well we get below here folks all bets are off this is why uh this was this was the place to look at it but boy it gap down and that's not a that's not a good thing i just like looking at that silver trade don't want to even begin to look at that because it's sniffing at this area here is what it's going for and the fact that the market still bearish that's telling us that right my goodness we looks like we're probably going to be going a little bit lower as of yet all right one other one that someone asked about was apple mr appell who's down by the well uh they said they heard the bloom bird saying it was one of the most bearish charts on all of wall street and i uh i really took i i took the other side of this folks it of all the stocks that look out there apple looks actually better than most let's just get here and take a look at it look at it still up on the day with the market down 200 some points we got apple still up look at this this hardly backed off at all morgan stanley's down here goldman sacks is down here look where apple is all apple's been able to do here over the past few days we've had a sell-off of one two three four five days we went to that level let's go to the four hour chart and we'll see where we went to where we go right to the 50 percent level this isn't a bearish chart hello operator the bearish charts the one that's taken out these lows that's my two cents worth and i'm sticking with it okay let's move on here and another question that someone asked was about the wheat so let's get the wheat up here take a quick look at the old wheat uh they've been beating wheat up pretty good but i think it's been rallying today let's give me one second here and we'll get it up here wheat starts with a w it doesn't up there you go and we'll get this up here that we're having a little bit of move to the upside not much today just a little bit here's where we are blowing it up so we can see it so everybody can take a look there was the bottom there was your 78 percent level we talked about that one before and now that tells us that most probably we're going to be getting an abcd rally in a bear market here in oh we already hit it it made it yesterday uh right up there at 87 we backed off didn't really do very much in fact this could be very important let's just look at this from a uh from a standpoint of retracement after the high came in we retraced right here and if we measure from the low where we like to measure you'll see that that low stopped right there and today's low matched the 382 retracement and it rallied another 12 cents this tells me this tells me that we are going higher in the wheat probably up into this area right up into here uh right around 907 we could rally another 27 cents higher just the fact that this held the 382 the first day and even the second day moving down to a smaller time frame on this to go to the 60 minute there it is right there there's your 382 that we were just looking at we'll just clean all this out so all the folks can see what we're doing from your low up to your high there it was right there matched it today this is where we are right now looks like to me we're still moving higher up here to this uh 609 I believe was a number of this larger abcd let's see we're probably going to be headed anyway that's the first one we've already made that so that means we're going to go up to the second one it's going to take us up to this level right up here 609 so that's Robbie looking at another 27 cents higher in the wheat possibly that could be a really interesting one so that's what we're paying attention to I hope that helps anyway I don't see anything negative about this the stock market's down 300 was down 300 points almost and apple is up $2 on the day you tell me that's bearish hello operator I mean that to me is not bearish I mean well that's my two cents worth and I'm sticking with it let's see how we're doing with the time here don't try to call in today folks tfnn alerted me to the fact that all the lines are busy they've just been they've been they've been so busy that they've actually had to disable it today so you're not going to be able to call in today but maybe tomorrow if you start calling in at around 5 a.m uh floor at a time you might be able to get in early but you know who knows things are so busy that you just never know when they're going to call it or not let's see how we're doing here with time here we'll be right back you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible 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 valleys and stock prices get the opening call newsletter by basal 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 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 when warranted stay ahead of the game with tom's real-time analysis and trade recommendations delivered straight to your inbox whether you're a season trader or just starting out market insights provides the edge you need to navigate the markets with confidence ready to join the ranks of successful traders head over to tfnn.com and subscribe to market insights today don't miss out on this opportunity to supercharge your trading results market insights comes with a 30-day money back guarantee for all new subscribers so you have nothing to risk don't miss out on this opportunity to revolutionize your trading game head over to tfnn.com right now to join the thousands of traders who have already experienced the power of tom obryan's award-winning newsletter market insights firsthand 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 lab u or lab d directions daily s and p biotech three times bull and bear etfs visit direction investments dot com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction chairs 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 eight six six four seven six seven five two three 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 someone asked a question if i would look at the 382s on the dow jones and also on the nasdaq and if you this is the dow jones a high high we made yesterday okay so i just go from a high down to the low that we made and you can see the 382 came in here up here about another 200 points ago in the dow the dow's backed off a little bit so now what we'll do is we'll look at it on the nasdaq also just to check and see how it's doing don't usually trade this but i will check it for you folks and since we're doing that we might might as well check on the uh the russell also so here is the nasdaq move it over here well this nasdaq has really gotten hit pretty hard now there was the high in the nasdaq from yesterday okay so we want to see if it made the 382 right here this would have been the rally we just looked at so if we go from our high right back here and put the low right in and there was the 382 right here and that was at 51 62 it's dropped about 80 handles from that level and since we're in the mood we'll just take a look at the old russell and it's been the one that's been actually been beating up pretty badly here these last few days there was a the rally yesterday well this thing didn't even uh this thing didn't even come close to a 382 of anything uh there's the high right here uh the 382 on the russell would have been uh right here we didn't get that we might have made it from this one here let's just double check you know it didn't even make it from either one of those that just shows you the russell this russell folks look at this russell weekly chart this thing i mean we started getting below here folks i'm afraid what's going to be happening now i just had a call right before the show came on today from tom hugard and tom's going to try to be our guest next week but the thing that i'd like to remember reminder we're going to be doing a seminar together on the 29th of february and march 1st and 2nd of this coming year it's going to be in las vegas nevada i'll let you know more about that i'll be live trading uh 20 hours of live trading over three days and we got some are going to be a lot of fun let's take a look here now and we'll i want to get up here to look at the next one that i wanted to look at which is one of the reasons why the dow jones is so very very strong let me get this uh let me excuse me so very very weak i wanted to show you folks this is the dow jones transportation that we're looking at this is goods moving okay this is not you know stuff for sale or stuff like that this is good moving look at this you know we have we're getting ready to break below here uh i mean we're real critical levels here we start getting below here all this was this was what that belongs right there sorry so we had the nice little righty there's your three eight two the fact that it's not collapsing is a pretty good sign we've been here for one two three four five six days holding this level so that's why we're real critical levels here on this dow jones transportation there's your abcd from your low up to your high you're sitting at the below there's the 1.618 look how many times we have to close we start closing below here folks this is going to be pretty nasty we had a really good rally yesterday that went up to the 78 percent level and then he gave it back but it's really trying to hold it really is that's that's one of the keys but remember we were looking at banking stocks through our friend jim bartolioni let's get those up here so we can take a look at these these are the regional banks they're actually holding up relatively well compared to the rest of the market they're down today but not by much you'll see here we have the abcd to the downside right here we had the abcd to the upside let's just see how close we came to the actual spot on number there's your a leg b leg c leg d leg uh how much do we miss it by uh heartbeat see 43 11 was the number we got the 43 42 94 missing by 20 cents and now you're in the midst of going sideways but not collapsing yet that's actually a pretty good sign it really is now the other part of this is because of the bond market is so very very important and you know we thought it had a bottom but you know maybe it's today who knows but let's take a quick look here at the uh h y g which is the uh high-grade bonds that's what we want to see if that's holding up because who is back at the lows again see if we started getting below here folks we've already started to break down badly and remember on this weekly chart this has uh some really negative stuff as we went below here and we're starting to break down more now the market in the bonds and the notes is so very oversold it doesn't have any friends i can't even remember the last time i've seen a market that has so few friends i think i was the last friend yesterday and uh you know gave him $200 for my friendship and so i decided to wait a little bit to see what's going on let's get rid of this and i want to get back and take a look at the bond market here just a second here and we'll be moving right back here get rid of the transports we should be okay get rid of the russell should be okay mazdaq it just made new lows on the day let's see the dow Jones did not make new lows on the day let's see if the old stop and move um i know it didn't make new lows on the day yet but it's still a little tad early so that's what we're watching right here so all we're watching now facts if we can get above here if we can get above 382 of the daily range from the high down to the low and remember we made a very quick rally folks that was 30 handles we went from 50 to 78 that's 28 handles right at the 382 okay now as long as we stay below that it looks like we've got another leg to the downside on this because we start making new lows you've got your ab leg right here cd leg right here you're going to get down whoops didn't draw it right hold on one second from your high down to the low all right that's where we are right here 43 43 37 we should get down to that level and that is really important but looking at the long term daily because now we're getting down to this level here remember this 43 30 43 29 there's our big abcd coming in here that's going to be one you got to pay attention to forget that stuff about no i don't want to say something uh i was going to say forget the stuff about the war don't forget about the war that's important but by golly look at the charts you know we've seen these things rally in in the view of uh all kinds of bad news so you know stick with the charts that's basically all i can do i i don't know anything else to tell you other than that i hope that helps uh we'll see whether it means very much or not but that's what we're paying sort of attention to here here today so let's look at it let's get back here to crude oil because it's just not uh there it is right here see it's already backed off now from that high right here if we move down to that smaller time frame you see we came down there was your there was your garly pattern right here your abcd measured abcd measured uh right up there 74 was the number and it's backed off from that level and you'll see that's what we were paying attention to uh right here when the show happened just a little about a half hour ago that actually worked pretty good made a couple of bucks there if you did that one anyway that's pretty much it i want to check and see if i that silver trade that i did and took a 75 dollar loss on would have worked i doubt it but let's just double check just for kicks and giggles and uh that's it and we'll be looking at here right here it's about the same it got up to 12 this right there i've been selling it away no big deal okay that's uh pretty much it we got to take a little break here eight seven seven nine two seven six six four eight billy ray valentine capricorn will be coming back in 15 seconds and 40 minutes and 11 dollars we'll 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 tomyo brian 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 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tiger's den available to all tigers and tigers is for just one dollar 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 don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv okay folks i've posted a chart here of the e mini s and p here we had the 382 retracement up here so all i want to be doing now for the rest of the time that you will be watching this watch to see if it makes another 382 retracement up here at around 63 we're trading at 61 right now now the key here is you watch uh 43 63 because if we start getting above 43 66 there's a real strong probability you could be looking at a major abcd rally here 30 another 35 points or so up into this area so the key level to watch is 43 63 and 43 70 so 43 70 is your uh oh look out dodge uh get out of dodge that's where i'd be watching 43 70 but watch the number 43 63 now that's short term but these things work on different time frames the patterns never change this is right out of mandelbrot's work you know with uh fractals and so that's uh the key of why these things uh jump around the way they do and these folks that are doing these algorithmic stuff they absolutely know what's going on now i'm hoping to have tom who guard is our guest tomorrow i'll know later today in about 30 minutes and if he is we'll have him on tomorrow and he has been berries for quite some time and we'll find out what his feeling is on the market and some of the other things he might share from his fabulous book a best seller over there in the uk the best loser wins absolutely fabulous book so that's what we're watching here today folks so tomorrow we'll be back on the air at the same time one o'clock eastern time as always with the offices of 100 south broad street philadelphia pennsylvania suite 101 if you're ever in the area stop by and visit us visit us area code 215 546 0077 and that's our phone number i miss ophelia we'll be taking all calls and making appointments for lunch if you'd like to have lunch we'll be happy to take you to lunch if you're here in the philadelphia area in the near future so we'll see on the flip side tomorrow if every day in an attitude of gratitude and may god bless