 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. Hello everyone, Basil Chapman here. This is the Thursday edition of the Tiger Technicians Hour. This is the 4th of August and we're looking at the Dowdown 47 and 32,764. So let me get to this because it's really difficult for me. Let me be very good at actually advertising all the different things that I do. I just kind of like to do it and whatever happens happens. But it's so important because I've got what I consider to be a time wise, a really important Wednesday, this coming Wednesday, all day webinar. I haven't done all day webinar for quite some time. But within that webinar I do a lot of things and I've been trying to demonstrate over the last week or two what I will be doing. And I treat the 1, 2, 5, 10 minute e-mini charts as kind of the demo. It's the only way I can exhibit publicly what I do other than what I do privately, which is through my subscribers from Opening Call. We've had some really good gains percentage-wise. One of them is actually this morning, I haven't checked it now, but early this morning it was up 40% from where we entered. The other part, we've got two parts of it. The other part was up over 30%. We've got another one that was up over 30%. So I mean, all I can say is that if you see the live demonstration, then you'll know if it fits within the category of the type of thing that you like to do. So what I'll be doing is the topics to be covered. Technical tools based on the Chapman Way methodology explain live, studying and practicing entry and exit points, assessing where to add or subtract from positions, projecting price and time targets. This is all the stuff I do live every day. Utilizing simple technical tools for holding positions longer, taking bear charts and add notations, tools, patterns. What I'm going to say is that you should know over the years, this is what I used to do way back when I once or twice subscribed to Granville, but mostly I would hear what he was doing, and it usually coincided very much with what I was that's Joe Granville, and it was way back. Over the years I've learned that certain technicians that I listen to are just fabulous at something. Maybe not everything, but at something. That's where I want to listen to them. Are they good at? And that's what you should be doing yourself. Whatever you're listening to, you say, hey, that person really knows how to nail, and maybe it's a particular sector. They always nail that sector, whatever it is. So in my particular instance, the thing that I constantly work at all the time is once we get into positions, and we usually get into positions really well, where do I put the stops? Even if there is, and I always say, if you can get the timing right at the lows or the highs, even in discussion, because once it takes off, then you can watch it zig and zag all over the show, because you're in at such a nice level that you've got a huge comfort zone. But if you get in slightly out of the comfort zone, then I tend to want to put in a stop, and every once in a while we get stopped out of a stock that I really love, I want to hold, but I just don't have money management. So that's something that I constantly work on all the time, and I make it known, because everybody should know these strengths and weaknesses. So in this, and we're looking at utilizing simple technical tools for holding positions longer, taking bear charts and annotation tools, patterns, identifying three core formations that repeat in every timeframe, analyzing timeframes to extend the duration, and answering and practicing your questions as they come up. Now, I'm still making the decision whether I'm officially called a live trading live, because that, it means that sometimes people are so busy looking at the trade, they don't really understand the whole methodology behind it. But I've done so many, I was looking, I've got so many webinars up that you can go through any one of these techniques in the webinar in your own leisure at any point. So what I've done over the last two days, I haven't quite refined it enough, is I've tried to get the core, I've got a little package that I'll send to the pages of definitions and what we're looking at and why we're looking at those things, and then extrapolate from that data. And basically what I'm looking at here is, I know there are a lot of people that really love the live trading, certainly you've got to include me in that category. But at the same time, I mean, we have positions, we've got the dollar position long from, look at this, the dollar, DXY, right now at 106.31, we own this from, look at this, I'm going to go back because it's all notated right here, long at 90.07, the 6th of April, 2018. So we can hold things for a little while. And we've got two positions, I haven't added it, one position was offered 96.58 and I think the other one was offered 107. So, and we are still long, except I am considering that the dollar is in a digestive phase and we'll see how long that digestive phase works. Let me just do this at the same time. That says that gold could finally get back to the inverted chapel wave falling exformation. As these patterns come up, I will discuss them. I'm not going to make them a formal thing in the booklet that gets sent. I used to do that, but I just, I want to fixate on what I know people see all the time and what they like to work at. That to me is the most important thing. So what we are looking at is this pattern where there's a rising highs and rising lows but much higher rising highs and then it comes down forms the H pattern or sort of the arch pattern in the dreaded H formation and then test the left side low. Well, if it rebounds and it starts to take out this rising inside track what was a propellant, now it's a repellant zone and gold starts to trade at 8.56 on a weekly, it has to be on a weekly basis. I suggest to you that that's where you will see the EUR, USD, the Euro, which is actually just acting okay right now. Go from 1.019 up into the 1.038, 1.041 area. You will start to see the USDJPY the YEN, which made a peak G top in the Chaffin Wave has a beautiful arch formation has come down in a shorter time period made a lower low than the left side low back in June and it's trading right now at 1.3336 down 50 cents. Hit the 9 period moving average, the pink 9 period moving average which says this is in a cell mode and that's the one that you have to see a price move above it so that eventually the pink can go over the black in the 14 period moving average. I'll be discussing these moving averages in great detail. We'll use them all the time in our practice sessions and whatever questions you ask I'm going to deal with right away and we'll practice those over and over and what we're looking at here is that the YEN has made a peak F in the weekly chart and I suspect right now it's at a 300% extension it went even higher than that it went all the way to the 139 it's just under 140% it's trading at 133% I suspect that this whole area going to the 127 128, 127 area could be filled and how it gets filled and the speed with which it gets filled is going to be really important because any time the YEN goes under 125% that's just another cup of tea all together and that's probably where you'll see the dollar if that happens you'll see the dollar at about 102 so to this point the dollar is holding okay at 106.22 just down 15 ticks I'll be right back down 50 just down 240 this to gold owns and operates the largest undeveloped gold project in Australia the Mount Todd Gold project this to gold just completed their feasibility study resulting in a 7 million ounce gold reserve this to gold has all major permits approved and has retained the IBC capital market assistance in evaluating alternatives and in completing an accretive transaction this to gold trades on the NYSE American and TSX under the ticker symbol VGZ this to gold executing a strategy to create share holder value are you looking for a way to consistently add winning trades 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 found a 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 markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of Tom's advanced technical analysis in our gear to deliver comprehensive strategies for a successful 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refund within 30 days of signing up subscribe to the Fibonacci 24-7 newsletter today TFNN.com educating investors available to all Tigers and Tigris for just $1 for the year there's no catch or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of TFNN.com toll free at 1-877-927-6648 internationally at 727-873-7618 so let's do this in terms of looking at based on the techniques that I'll be teaching in my course there's a pattern that I call the large rectangle and within that rectangle very often you can see a rebound a sharp move down and then a slow rebound that is the stair step move that goes to peak A, then a peak B and then a peak C and then finally a peak D just under right on or just above the previous high of the rectangle which is the lopsided a gravy cup pattern and look what happened 33272 was the high back at first I think it was the first of June plunged down to 29653 on the 17th of June and four days ago we had 32972 just under the previous high at a peak D that's the technique that I'll be teaching that's what we look at look at the S&P the same pattern lopsided cup formation and within the context of the 4177 high around about the beginning of June and of May a pullback to 3636.87 the sharp pullback on the 17th of June it starts to move up of the doji candle I'll be talking about the three or four candles that I always use and lo and behold we go peak A, peak B peak C and we were waiting for that D and the D came in and the D came in yesterday at 67.66 let's change that 41 47.66 alright and the high today is 41.43 so we are underneath that by a little bit and this is exactly where I said I think based on the 200 period exponential moving average as a magnet which is at 41.87 this is where I'm anticipating from the cup formation the left side high which was our target 41.77 we got to 41.47 this is the area that we would expect some kind of resistance we are looking at numbers for those of you being subscribers or listen to me for the 20 years I've been here at TFNN you know that whenever we get to a millennial level millennium level like a thousand two thousand three thousand four thousand I always say as you get in closer the chances are and in this particular case I was saying chances are for the Dow that the whole area of thirty one thousand thirty two thousand nine hundred should be strong resistance and even if we go slightly above it I suspect this is where we are going to have some kind of a seesaw battle yo-yoing over the next maybe even a week just because we've had such a big move so the question came up Basel is this a short covering rally are we about to go all the way down again or is this a real buy there is absolutely a real buy and what's really important about this is that if you're able to identify and I tried my best I think we've succeeded in doing it identifying that this is going to be where the laggards the ones that had sixty seventy eighty even ninety percent declines and like the NASDAQ this is where they had their best bounce that bounce is rotating into other areas within the sectors so that the ones that didn't even move very much we're in like a narrow rectangle formation for a while are now about to try to break out I would even put gold kind of in that category to a certain extent and most importantly it says the whole idea of rotation that I elicited this is what I was talking about back in the summer of two thousand and ten where I said I was anticipating that that perfect buy signal that we got the day of the low March the six two thousand and nine on the Friday the S&P made a snow on the Monday at six six six I said we'll see if there's going to be the usual internal low and residual low meaning that like an earthquake and an aftershock sometimes aftershocks are even worse than the earthquake damage sometimes they are much less but there is an aftershock and I said we'll see whether or not we get the rotation into an arch formation that comes back and retests the lows or not but we're in I widened the stop in the very beginning and then I shortened the stop on the diamonds and we actually had calls as well that we rotated into so most importantly that allowed us that gave us the idea that if there's a rotation the summer of 2010 it sets up a modus operandi for the market for a while that while has actually been for twelve years because you've seen rotations all the way through even in the huge decline that we saw from November December January depends which index you're looking at so the big idea here is that we had seen for instance steel stocks had rectangular runs and then they gave back a huge amount then they had another one now they've given back a big amount and some of them are starting to rally again and that kind of rotation into the different sectors you say wait a minute how can this under these conditions why would steel stocks start to move well it's just part of this whole rotation so the answer is I believe that there has been new buying and I also believe over the last three days or so we've started to see people that were absolutely reluctant to anything start to get in and that's telling me that we're real close to some kind of a shorter term top a top meaning that the upside is now limited but we could start to expand consolidations to the downside do we go back and test the left side low in this case just the most recent one was 29,653 in the Dow and here we are at 32,722 3,000 points higher well well if you think about the amount of time that it's taken if you think about the price going from 29,600 this say to 32 let's call it 33,000 that's a decent rally but it's not great it's not like the start of the big move but I believe it's the building of basis in many many areas so my answer is be prepared we've still got a big cash position we're waiting for those big moves to the downside that come with who knows what the news is because the news itself keeps rotating and at some point we will get another big slide but I think that whole 31,000 to 30,500 on the DAD this particular point in this particular timeframe summertime frame I think that's a good cushion I also believe only when we start to trade on a three week basis above 34,000 can we start to say aha now we can start to talk about the monthly charts but at this particular point the monthly charts have started a little gray A meaning they've made a higher high than last month's higher on the candle and that means you have to notate it because the obligation in the chapter of methodology which I will teach on Wednesday is just to notate everything every peak and trough because that just gives you a tremendous heads up as to what's happening with the S&P S&P's also started the monthly chart gray leg A tremendous resistance at the 9 and 14 period moving averages 41 about where we worth a high today of 41,47 sorry yesterday in that area and we're also looking at 200 period moving average which you could have ignored up until now and now it becomes a magnet I'm going to be teaching about magnets look at that magnet the way the price went like a zigzag all the way around the 200 period moving average between 44,14 and 46,37 for so long and then it broke down and then you didn't have to even think about the 200 period moving average but all of a sudden 2 look at the QQQ same thing back in April gets the 200 period moving average and then goes S&R it came all the way down to the double bottom at 269 and now we're trading at 22 that's a very nice move not a great move I'll be back in a moment if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report is a comprehensive look at the metal sector as well as the markets that move gold which is the currency in bond markets new subscribers get a 30 day money back guarantee so you have nothing to lose every Monday morning I publish the 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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 so do you remember Atom Atom is Atom Mara Inc I absolutely do. I don't know why it's not notated because I remember at the time notating it this is a stock that once was at 45 and just two months ago was in the nine area now straightening at 13.24 leg D and we just double check so this is a pattern that I love to talk about it's where the dreaded H takes out the left side low but within two bars it goes higher and the Magnetian Stochastic are giving you signals to say hey that was a huge positive divergence and that says you can now make the case that the lower case H is going to go to a beautiful cup formation maybe going to the last high or even the one that started the whole move down well lo and behold it's done that and let me just show you something one of the techniques that I'll be teaching is this look how easy you don't have to have rectangles you can just have a straight line look I'm going to a particular plum line and I'm saying is it possible that within a certain period of time number of bars you can go all the way back to that level maybe in a shorter time frame but at least in that time frame well lo and behold look at this here's your plum line let me just do it there we are the plum line is right here whoops it's one bar off I was one bar off so we'll increase it by one there are one bar off and we'll increase this by one there it is so not only did it do exactly that peaky I don't have to tell you because you have I believe you have this still this is Atomera Atomera is this a biotech or something like that lo and behold look what we've got I've got there's a technique that I'll be teaching how can you use the left side to be able to draw the chaplain wave inside wedge target repellent zone well there's a particular way that I do it and that's what I'll be teaching and it said that by I usually make this green on the way up and the way down it's called the chaplain wave inside wedge target support level in this case it's the target resistance level usually I make it green and I make it like that dashed there it is and it said that by the 8th of August 8 8 22 it should hit the left side high of the 27th of May 13 point 30 well it did it three days before it did it yesterday as high as 13.40 no 13.39 huh and today's high is 13.39 so that's a technique yes I love this it's achieved everything that you want now it could maybe take a little bit of a breather I can just tell you this that if it trades any any day it hits 13.83 all of a sudden you're looking at the 14.23 200 period moving average which it hasn't even seen let alone touched or visited for since it did hit it exactly as a resistance level seven times three four out of look it hit it once it broke down on the 3rd of December under 22 under 20 it tried it it was such a magnet that it kept trying to break it and hit it three times four times and then it got repelled and that was it it hasn't even been close so that says to you that the technicals have improved a lot if you look at the cup formation and it's okay it's not great but it does say that once it starts to trade in August if it can trade about 14.53 you've broken all the resistance levels from March of this year from yeah from the beginning of March of this year and that's going to be a big thing and key support should be in the 12 30 to 1180 area hope that helps you okay question came in can you look at AG AG I think this is in the there we go AG AG is first magenta silver core used to have this all notated this is in a strong leg B to the upside it's at $7.98 so I have no choice but to call this a buy signal that I should wait for the end of the day it's trading at $7.95 if we can close above $7.90 it's gone from a buy signal to a buy mode and that's suggesting strongly that we're looking at first magenta on a daily basis trying to tackle the left side high of the 21st of June which is $8.36 it has a little bit of resistance at $8.20 which is $8.20 is the high of the 27th of June so the question comes in how would I draw the patterns because it's definitely got the falling ax formation but most importantly now it's starting to demonstrate strength so I would definitely go to that candle right there I draw the arch the quarrel the left the right side semi-circle now I'm drawing the right side semi-circle and what we're looking at is we want to go from here to up I'm happy with this inside wedge target resistance line now I look at the left side and say hey wait a minute how can I join all of these where would I go well obviously I can't go to the I cannot go to the right side because this is the plum line here plum line says wow just go all the way to there just be conservative at first so I am conservative I teach which candle to use and now I'm going left side right side I'm going to keep this up and we'll look at it next week and see how accurate this was and it says oh that foot's exact not quite exactly so to be a bit conservative I would go to the outside of that line I say yeah even though it's hit perfectly every one of those resistance levels to be aggressive and by Friday going into Monday 8.33 could be the target I'm going to be a little bit more conservative and say normally I would want to go to what matches both in time and price and it says maybe we're going to go to the 11th of August and that makes the another 8.20 but the 8.36 level you could do it before I'm just saying this is a nice way to do it and at 84% the stochastic good on balance volumes lagging regular strength is this kind of average and the magnies good in the 90s way over the 14 yes I like it and 8.32 is the 40 period exponential moving average that in the weekly chart that it hasn't hit since it broke down back in April of 2022 hope that helps you okay next question is can we look at the SQQ for an entry the SQ let's just look at the QQQ and then I can go from there so the QQQ which is the NBX100 trading vehicle this is the Invesco QQQ trust series hit a new recovery high today of 3.24.52 it's starting to pull back that I'm participating in a leg E we're in this on the long side we've taken some profits this morning I almost took some off saying let's take a little bit we'd have four little bits taken off to me I just need to have a little bit of room so I'll give up some of the gain this particular part right now to see because there could be just enough energy for one more flow through the upside and how that is activated because the 200 period of 327.33 is really going to be key so now what I like to do is go to the SQQQQ because this is going to be the exact inversion from a peak D in the weekly chart what's the objective in the Chapman wave is to get you to a D well lo and behold it went to a D in the inverse from the starting point which is that was the low that was countered that was the low that was made I think the last week of December let me just tell you yep the last week of December 28 15 so we'll look at the inverse because a lot of people are saying are we ready to go short are we ready to do what the dial is down 147 S&P is down 80 TFNN has been your trusted source of analysis for bonds, metals, stocks, commodities and options for years and we are happy to announce that we are bringing that same caliber of analysis for the 4x market Teddy Keckstad has 30 plus years of experience in 4x trading commodity risk management, 4x hedging volatility and so much more Teddy releases his weekly tiger 4x report every Monday morning with elite coverage of all major currency pairs including the DXY, Euro Dollar, Pound Dollar, Aussie Dollar Dollar Yen, Dollar Swiss Frank and so much more. 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To obtain a prospectus or summary prospectus, please contact Direction Shares at 866-476-7523. 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. Yes, EQT is going to start making right now That was the question with Dan If you want to read by, let's see how if it can get to the 39 level. Give me a yell, we're looking at it together. So we were looking at the SQQQ Oh, I wanted to show you this This is the live I drew this in earlier on as I was coming on to the show and then I left it, there's a left side, right side price time match and you see this trend line right at the 200 period moving average How important is this? This is about as important as any tool you want to talk about, you can do about Fibonacci, you can do about a Chapman wave methodology, you can do about anything you want but the 200 period moving average is fantastic. Look at that. There it is, look at those resistance levels and then it got repelled and it pulls back Why? Because it's a nice long look back period 200 bars of whatever you're looking at, right? And it's telling you a whole bunch of information and look at this trend line, this is what I'll be teaching You see this trend line I didn't have a chance to do this I should have just extended it down because that's the way you need to draw these trend lines. Well, look what happened, the dreaded H pattern that we talk about all the time, this is the even one-minute chart, went to a peak D just above the 200 period moving average, then turned down then across negative, that means that if you were short, you had 41.55 you would have been short, here it is 41.39 and now it's starting to show a little bit of strength so you can make decisions about maybe taking some part off, keeping some part etc etc but isn't this, I mean this is a nice tool then what I would do is I would automatically draw in a channel the channel is two parallel lines well, the channel doesn't take the peak D-top, it takes all of this right now and all of a sudden it's flattening out, time alone we'll see you go out of the channel so you've got to exclude the time part of it and say, are the technicals improving enough to confirm that the pink can move over the black so that it goes turns green for another bi-signal so that's just techniques, easy stuff what do you have to know here? you have to know nothing that you didn't even need the chat wave notation you just need to look at these automated tools that you have right there, everybody has them all of you have a 200 period expansion moving average, all of you have a 9 and a 14 it won't change color, that I had developed for me but big deal, make one thick one thin and you know when the thing goes over the thick it means something or it goes under and means something that's the use of it let's get out of there now what I'm looking at is within the context of this digestive phase that I was talking about how does the SQQQ which is the inversion of the TQQ 3 times long, this is 3 times short what's the implication? well the monthly says just on a purely visual basis the 9 has gone under the 14 period moving average so now it's just about to turn pink the reverse still got another day and a half to go the 14 period moving average tells you that the whole 46 to 47 areas key resistance, you're at 37 right now the weekly chart Magdi has turned down the stochastic is way down to 27% the blue on balance volume is now way below the levels it was at just 4 weeks ago now we can look at this my answer to the question is if I would show it I'm going to show you this look that peak D right there on the 20th of May at 63 86 had all the ingredients to say that is a cell signal but within the context of the starting point to get to that peak D that whole thing started right here with this is I drew this in as an unconventional flat base restart oh I didn't want to get into that that just moves us a couple of steps more than I want to do right now basically what it says this particular pattern that's why I drew this in and I usually type in chaplain wave unconventional flat base restart should come back to this level and that would be 43 31 or 43 no matter what it does it's going to go chop chop chop to the upside it looks like Bart Simpson's hair and spikes up and spikes down spikes up and then it goes to gray peak A gray peak A right there and then you can consider that this is E slash B E slash B and then it goes to an F slash C and you say am I expecting a D well you don't know but in the cup formation that's another technique that you need to learn in the cup formation the inversion of the chaplain wave um dreaded H pattern what we're looking at here is that the technicals you do a vertical analysis look what happened the technicals right here were extremely strong the technicals right here right there um the mag D was way under what it was before the stochastic balanced a little bit was okay unbalanced volume was turning down so you didn't really know so this is where I do the analysis because you want to do the mirror image the S and P well the S and P made a lower low when the technicals were starting to improve and then went down to the 36, 36, 87 level the little doji candle on the 17th of June and with that that's the day that we actually we went along the Dow for the same reasons that there was a positive divergence in this particular instance you would have had it would have been tough I'm not making up anything here I'm saying S Q Q Q I went to the S and P I went to go to the Q Q Q thank you for reminding me the Q's made a lower low with the technicals way superior that was the big thing that's the reason why we wanted to go along the Q's the moment we could and that was that's the difference that this arch pattern where for three bars you actually were closing underneath the 280 level you got a brand new buy signal that went to a buy mode so that was a little different and that makes it a little more difficult in the in the sense that in using this S Q Q Q as a indicator would it be very tough I did it purely on the on the Q's themselves so that's one thing now so the S Q Q what was the question question I should have remembered the question but as a coming look at the S Q Q for an entry so as an entry for the S Q Q now for the long side I would recommend two things one is I don't think we're quite done yet for the upside before we get about a three to a five or even a seven session consolidation if that's going to happen so the only thing I would do since you're using 300 percent long if you're going to enter here is I would start a small position right here 3734 I have to say based on this particular pattern here that the left side low that I would have focused on I'm going to do that right now is this whole area as a low and treat that high right there as my left side right side price time match I'm going to go right here and make that pink where it is and that says that's way too far so you're sometimes just trying to error because I want to do it with the path medical places we got one more section to go let me just do this one more time there okay I'll be back in a moment Fazzle Chapter we'll be talking about left side right side price time matches we'll be back in a moment David White is an accomplished trader whose deep understanding of technology and the markets allows him to consistently find and share winning trades support and resistance define the ranges in which stocks trade by understanding these trading ranges David White is able to find a path of least resistance David White's trading newsletter the path of least resistance is delivered daily before the markets open to make every trading day an easy win visit tfnn.com today David White's ultimate trading newsletter for $119 a month and try all of our newsletters risk free with our 30-day money back guarantee take the path of least resistance at 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 the opening call newsletter by Basil Chapman and your inbox every day first-time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors 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 24-7 newsletter at tfnn.com when you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis after all he's got 45 years experience as a day trader Larry will also provide daily charts, videos and data on the key markets that he's tracking expect notifications from Larry on market movement you need to act on at any time first-time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the Fibonacci 24-7 newsletter today tfnn.com educating investors tfnn.com there it is folks so let me just say that for the SQQQ where would you enter you know I would only start a very smooth position right here at 3728 I still see residual strength and so far I don't see a very big sell-off so this would just be a start I would do this I would start a move at 3726 I would probably have to have at least just for the moment I'd have like a one and a half point stop maybe a two point stop on this smaller position but if by today's if by Friday afternoon at three o'clock the market the Dow is down more than 180 in the S&P no matter what happens today by tomorrow if it's down 180 from today's close then I think you can start over the weekend looking at Monday you can actually start at the end of the day on Friday adding to that position but I also don't at this point 4114 is the nine-period moving average resistance I just don't see it having the big move now I think it might be a little later when it has right now still see internal strength NKEE Nike is just about to get to that leg D it's doing very nicely Nike nicely but it hasn't shown tremendous strength yet for all the technicals that have been improving and that just says to me think of it more as taking in a rectangle formation with a semicircle right here and that says you see the semicircle is too slopey on the right it's taking too much time and that just says it's going to need another trigger to get that move to the 122 area and here it is at 114 so just one step at time what it does say is that maybe it can go sideways between a hundred and fifteen and a half maybe 116 short term with good support at 112 to 111 okay folks I made a decision just a moment ago I was able to open up a slot in this next hour I'll be back here for the next hour and there's a lot of people wanting to think about they want you to think about the grains etc I'll do the type of thing Larry does of course not the way Larry does it but I'll go through some of those commodity areas which I think right now it's kind of important to be looking at I'll be back in a moment I'll do the news and I'll do the hour eleven o'clock to noon Basel Chapman