 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. You have a very interesting comment in the 10 by Duffy in a picture. He said, uh, yeah, we go. The Bugatti Chiron, I don't know if they call it a Chiron or a Chiron. On an Autobahn, 417 kPa H kilometers per hour. And it actually shows you here. I didn't actually look at the picture, but it does give you the picture. And that's really interesting because when I wrote my way back in the 1986, 87, 88, when I was, my part of the time, and I was asked to do, I've written the thing on the mega bull market still to come. And I was asked by the, the almost editor, assistant editor, I think, Kate Welling to elaborate on that. And I wrote a whole thing which we've had here in Tiger, Tiger as a kind of a comment. It was more than a comment. It came out as a book. It was called The Psychology of Investing. This was part of a discussion that was at the Harvard Medical School Psychology of Investing conference that was, that was back in 1999, I think. And it was, it produces a book edited by Lifson. And I have a chapter called the mega bull market still to come. And my opening paragraph was 250 mile per hour cars, TV. I think I said TV at McDonald's. I had just mega boats the size of cities. And that was back in the late 1980s. And of course, we had that mega bull market. And, but the issue here is that there's a parallel. Historically, it's just, I mean, you can go back to the 1920s. You can actually go back to the 1880s, 1890s, whereby speed, automobile speed, skyscrapers, mega everything. That is just massive for that particular time. Matters of edifices are built bridges, all that sort of thing. And I think that we've been waiting for that particular code of, I call it the code of phase where it leads towards a really strong market collapse. I'm wondering if we aren't starting to get there. And we've got to get through this particular phase, a very difficult phase where we've got to get through it. And then we're off to the races, as they would say. So I'm monitoring this, and I've been doing that for a while now. The electric cars, but it isn't just electric. The gas-powered cars are producing incredible, you know, horsepower that you've never had before. Now, of course, in the electric, it's the 0 to 60 or 0 to 100 factor that is just incredible. And then the sustaining power, well, gas automobiles have the sustaining power. So I'm watching this very closely. And I know that there's talk of the major crash, et cetera. I must say, I'm not in that camp at all at this time. I am later on, maybe 2023, maybe 24. I don't know. But I don't think it's yet. And when it happens, it's going to be where people all around the world are at their monitors, trying to trade the stock market, mostly American stocks. And when that final thing comes, we will only know. It won't be, it'll be something that is, it impacts families and the families won't even know it's happening because there'll be maybe one person within that family that is trading their account and just blows up completely. And nobody actually knows until days or maybe a month or so later. And so that sounds terrible. I don't even want to go there. I do want to go to the fact that this market, when you've gone from 18,213, March of 2020, doubling in the Dow to $36,952. This is, there's nothing wrong with this as a correction. It becomes a lot more than a correction if you suddenly start to see the Dow under $26,000. Then you have to say, oh, what Coder phase? Boy, that's the uncoder phase. So we're not there. In fact, this is still, even though this is September and you've finally got the nine period moving in the month, underneath the 14 period moving average, the month is young. And anything can happen. You know, September is really choppy. Usually you're very choppy. So let's just see what happens. Last year, September was right here. September, July, August. So was that September? There it is. So look at that big red candle for September of 2021, high of $35,471 and 2,000 points low of $33,613. It makes a low and then we move up for four months. Yeah, for another four months to the high in January. So anything can happen in September, we'll have to see. However, with that said, that preamble, that could really have you ready to jump out of the window. Let's get back to the market and here we go. That's a question. I'll get a question right away. Thoughts on NAT. So I've been following in AT for decades. I remember when the guy came on Nordic American tanker shipping, I can't remember the guy's name has a very strong accent, speaks very well, very well, very good English. And it was somewhere around going into the high of, oh, I haven't got the notations anymore. So it was somewhere around on the way down in 2010, maybe 2011. And he was saying we've not, we failed to give a dividend. I think it's every quarter for the last 34 years, whatever it was, it was fantastic. And I looked at the stock and I thought, gosh, dividends, every quarter for X number of not years, but decades, that is amazing. And I remember him being interviewed by Jim Kramer. And it was very impressive. And then I watched the stock go from that level in the high 20s, 30s, down to somewhere in the single digits, like a one, one something, or maybe two. And a year's ready to nine, came all the way back to the most recent low, most recent lows that I typed it in. No, I didn't. Well, 1.8 to 287, where it is right now, it's a fantastic rally. And then it had over the last two decades, I don't know whether that's news, whatever it is, a fabulous breakout to the upside. And I have to consider, since the starting point was at 180, that this pullback A, B, C1, C2, I don't want to do that, that this is still in, either it's a brand new leg B, or it's a G slash B. But whatever it is, the MACD is just about to cross positive. The stochastic is still very weak at 59% on balance volume in the daily. Blue is still very good. In fact, a tad overboard. The nine been moving areas yesterday, crossed over the... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... Vista Gold owns and operates the largest undeveloped gold project in Australia, the Mount Todd Gold Project. Vista Gold just completed their feasibility study, resulting in a 7 million ounce gold reserve. Vista Gold has all major permits approved and has retained CIBC Capital Market Assistance in evaluating alternatives and in completing an accretive transaction. Vista Gold trades on the NYSE American and TSX under the ticker symbol VGZ. 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Hi folks, so we're looking at NAACS, which is Nordic American Tanker Shipping, unchanged at 286. It had a big spike this morning. What a huge move. I'm percentage move is massive. And what I'm looking at here is, I'm going to call it a leg B for now. I probably should put G slash B because there is a chance of an alternate count, but really the MACD is close to turning up. It's a good action. If you look at the weekly, there was a left-side, right-side price time match and it got there. It hasn't quite made it to the level that I would be looking at, which is 295, the high of the 29th of April, 295, yes. So today's high is 294, missed by Penny, but you can see this is a more conservative Chapman wave inside a wedge target resistance line right here. I do not like PDs underneath previous major highs and then failing. I like to see the breakout of the loss peak, in this case peak B, around about 335 at 335 in April. I want to see that taken out in a leg C so that you still got a D to come. But if we pull back in, then in a weekly chart in the next two weeks without taking out 3.15, we actually pull back and then start a high in leg D. That's just saying, you've used up a tremendous amount of energy, but you haven't really broken out. It's fabulous, but you haven't broken out. And what you said in the Tiger chat is that, oops, have I lost that now? No, I can't, surely not. There it is. They mentioned they had plans to continue increasing the dividends, lowest in ages, high and steady rates in ages. Yeah, I love all that, but why isn't it in the 350 area? That's the thing. So it means that there are other things that are going on, all right? So let's just treat it as a chart. I know that you have a much higher long-term target. I, funnily enough, also have that for Nordic, but we don't have it in our portfolio. I thought about it, and funnily enough, as it hit the 200-period moving average of 236, I did see it there. And I thought, what's the risk here? Well, I just decided that based on the weekly chart, remember that's not a great pattern in the weekly chart at that point. Now it's much, much better. So I like what I'm seeing. I also like the fact that it's trying its best to push towards the threes. I like that. So yes, what I would say is under 265, you never know with these things, it's not 265, that's, I mean, today's low is 270. Why are you thinking to, you never know with these things. So if it breaks under 265, you're going to have to wait a lot longer, but I do like it very much. Would I add to it now, since you've got it in a position, I don't know if you're running it with a profit right now? I think for risk reward, if this was a fresh question, would I buy it? Would I sell it? Would I just leave it alone? I would actually nibble as 288. If you can get it with a better risk reward, but it can only touch it and then it has to move higher. In the 284 area, $2.84, give it about a, you have to give it some kind of a stop, a 15-cent stop just initially. And if you get it and it starts to ready and in the next two, three days takes out the high today of $2.94, then that's a really good action. Then I can say to you, the weekly chart is really starting to improve a lot. Stochastics at 80% in the weekly, magnities good, everything is good. It's just that it's gotten to see way underneath that high that was made, what about $335, and back in April. But other than that, it's looking good. The monthly chart needs a lot of work, but of course my rule of thumb with this inverted Chapman wave Roman candle from April is that if it can trade it to, oh, right here, 288. If it can do that, it's a monthly chart. In this case, it's such a low-priced one. I'm going to not give it a day, I'm going to give it a week. If on Friday it can close above 283, that means that that weekly chart has a really good chance of going higher, and the monthly chart says there's a chance that we could have the next big move up at the 335 level. So closing Friday above $2.80 would be a really good sign to say the weekly chart is going to improve, and it hints that the monthly chart has a chance to go towards the left side high. Well, of course the weekly chart would also do that. All right, enough of that. Let's go to other things. Let me question. Okay, let's go to UNG. Oh, UNG, yeah. UNG right now is down quite sharply after the peak. Remember, I love the way markets just look. Cup formation, art formation does it over and over, could be a V-shape, but it's the same thing going from one point like the weekly did, sharply down, then back again above it. Now I call this a peak B because there's no H in the Chevrolet methodology. It doesn't mean to say you couldn't have a pretty decent consolidation here, but I do anticipate that in 2022 you're going to see prices higher than 35 in the UNG, which is the United States natural gas fund, on a short-term basis. And this is impacting one of our stocks as well that we are still holding, which is in the natural gas area, although it's had a fantastic move to the upside just like natural gas. It too is pulling back, it too is pulling back. 27.52 right now, there's a chance to even test the 26 is what you don't want to see, is a close under 26, getting into the 25s so that there's a chance that the 9 period and the weekly charge starts to go under the 14 period moving average if that weakness persists. I think this is a sell-off of the huge move to the upside. Would I get in UNG right now? I would much rather see strength and then a test. So I'm going to say I would hold off and I would wait until either Friday or Monday. And if it's trading above 29.38, that was the high of yesterday and starts to fill that gap, I'd say, great, that's much better action. And then I'll reanalyze it and say, yes, let's see, yes, now you have a risk of retesting the low that was made, but at the same time it does say that you start to show the kind of strength on a balance that needs to be sustained. And if it is sustained, that 14 period moving average in the weekly charge, which is sitting on right now, suddenly becomes support. So I'm just saying it's that a spectacular move, give it a little time. But now when I say time, look what happened, the time that it took, left side, right side to break out to the upside. And if I do that on the left side to the high that was made, it says we're actually now extending a little bit in time. You've got until tomorrow a break under the low of yesterday of 27.08, says be careful because now you can go all the way back to test the low of 26. So I'm just saying hold off on the, on UNG, I like it longer term meaning intermediate term, but I do believe this has to be a peak, be based on the Germany methodology. I've tried to count it empty in ways. It just doesn't work. It should go to a high, high start link C and then a link D in 2022. But I do believe you're probably going to not want another a week's worth of consolidation. Also don't forget to get into the natural gas. I believe this is the cycle of the natural gas for the agriculture. Hope that happens. I'll be right back. 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 and bond markets. New subscribers get a 30 day money back guarantee so you have nothing to lose. 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A couple of questions came in, I said I'll get to them if it fits the format that I have today and one of them was could you it's good that you basically I'm just summarizing it's good that you show the instant restart whenever it occurs we started to learn it very nicely but could you also I'm doing two things at once each other style no what's going on oh you just broke out so I'm I'm very upset because three times today I was about to go back into the long position that we had we were stopped out of one of them yesterday I was upset about just stopped out I wanted to get back in after there'll be time but in fact it really I think in many ways it was a good time even though the Fed speed comes on well just the minutes come on at about two o'clock this afternoon they look to me to be such an oversold near-term condition and most importantly what we're looking at here is that the S&P is up 23 in the and the DOW is up 172 I don't think I've actually been have I been through oh I did it in the market update I haven't been through it so here's the instant restart look in the one minute chart of the E-mini the load that was made at 8 55 this morning at 38 97.25 went to peak APB peak C finish stall that hung around the 200-period moving average for quite a while about 12 13 minutes and I went to a peak D and then within two within three bars it went from that peak D high it went to a higher high and the rule of thumb in the Chapman methodology is that you got to consider there's a chance of an instant restart meaning there could be a brand you move to another four higher peaks there's no technique in the world that does that that I know of I'm the only one I created the Chapman methodology and this peak D instant restart took a long time to I didn't develop it I just discovered it over a lot of mistakes a lot of successes and then finally I said oh there is a technique and then what happens when you get to G I go called a G stash C because there's an alternate wave all the way up and very often it stalls and it gets to a D and then it pulls back sharply that's exactly what it did and where did it pull back to it pull back to test the 200-period moving average is that not a fantastic technique and remember what I was talking about in that Nordic Nordic the shipper and I said that I wanted after a peak D I want to see leg C power right through that previous D that's fabulous action that's called the Chapman wave cup and ladle pattern and that cup and ladle pattern says there should be a strong move that should take you to D but you've created a support level unlike a cup and ladle a cup and handle which is one of the weakest patterns you can find unless you get it perfectly and even then the handle invariably gets tested the cup and ladle says you keep going higher you've turned the left side high that you passed which in this case was 39 30 and 10 minutes said 948 into support which you can test but there's a very good chance that you're going to go to a leg D that's how exciting that leg cup and ladle is all right enough for that so I showed you three three things here one is Chapman wave instant restart that can go to another four legs up four peaks higher to D pull back and then if it breaks out after that and takes out that left side high before it gets to D preferably be in C that's very bullish that's called a cup and ladle and I usually put it in like this I say right here I got Chapman wave cup and ladle why because it looks like a ladle look there's it was more like a ball and there's that handle that goes up it pulls back a little bit and then there should be another push to D and then you've it's kind of done its job and I'll put a cup and ladle I don't know if it's going to work but to peak D all right let's just have it in and we'll see what happens all right here we go so that's three techniques instant restart goes to G slash C that says if there's a little bit of a dip and then it goes to start to rally again that ready could go to a D and then be careful because you could pull back sharply well you did that and so that was two techniques and the other was using the 200-period moving average in this particular instance if there's a breakout above that left side high in leg C that's called the Chapman wave cup and ladle potential and it says you should try then to go to at least a D and then you can have a longer time wise pull back all right we're now done with that let's get back to our story so this is let me just do this quickly I did this during the update but I need to do it again yeah we go so the Dow I in D you is trading very nice candle so far today above yesterday's low of 31 was that 182 no I think it was a little bit low 31048 31048 you're up wow almost 300 points from that 31338 that's a nice that's a nice candle low lows and low highs we'll be making except for one or two little troughs this is trough see if there's no new low today but that weekly chart is still saying you know there's a lot of work to be done to break out looking at the S&P where would a breakout be if by Wednesday what's the day Wednesday yes a week from today if the Dow is able to break above 31800 and try to get to 32080 that'll be that'll be really good action if instead it just keeps choppy choppy choppy sideways action more like a rectangle having to make another low before it really gets going that's just going to use up usurp time as well as energy 3932 up 24 in the S&P making a leg D to the downside lowercase on the way down uppercase on the way up so it's a leg deep possible trough today unless the Fed ready something happens there just knocks things for a loop I'm thinking that we could have a little bit of weakness maybe into Thursday Friday maybe even into Monday but sometime next week I think that we should have a very good countertrend rally so we're looking at the S&P needing to get to 3989 to touch the pink nine-period moving average that is 60 point that is 50 to 60 points from here that's a big ask in this particular environment QQQ index 100 given back some of the gains today only up $1.40 294.50 this was now starting to struggle even though the weekly chart is holding a lot better pulling back from the channel wave inside track repellent zone then the Dow or even the S&P that doesn't help because the smash on 334 down to 397 now it was lower than that it was 390.87 390.87 was the low yesterday there you are 390.87 so there's a lot of work needs to be done but it has already reached the knee some a question came in Basil is it possible be having a trap wave instant restart to the downside I didn't even want to speculate on that I looked at it over the weekend I thought oh my goodness this is so close if there's another lower low yes it's possible and I'm not going to I'm not going to rule it out I'm just going to say I don't think so I think at truck F or G on the QQQ we're going to get a really good balance but if there's a failure you've got that low that was made on the 14th of July of 279.80 don't even think about that all right let's get back to our story here IWM is acting a little weaker today was acting weaker now it's acting a little strong up of dollar 35 and 179.66 over candles in the last two sessions so this session is really important to hold and let's go to gold right now let's see what gold is actually now up 10 for 17.22 let's go to dollar dollar is pulling back just a little bit it's at 110.53 up to 27.6 any leg with each other leg E on the child legs see I'll be 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 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 and stock prices get 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 the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information David White's investment newsletter the technology insider is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future David White has made his living staying on the cutting edge of technology his weekly newsletter will give you specific recommendations for value tech 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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 the question came up about first-sorder can you do an analysis of first-sorder I hadn't finished the I had a long time ago done the monthly chart so this is going to be very interesting why because in the den craft says that's the I'm just following up on a story that I see craft I know who crafty says inflation will get to 20% oh that's that's not the issue oh it's yet off the huge victory for the clean energy industry organizations like the solar energy industry association plan to focus more on selling the merits of clean energy products to people affected by them and they go on to talk about that so I thought okay I'll grab first solar because I was doing work on this over the last couple of days I've been following it closely and it's just squeaking away to higher highs and it's really important it's in a leg F I'm sorry peak F in the deity but this could easily be an alternate count could be a g-snash see if it makes a higher high today above the high of the second of September of 130.95 today it's 130.69 she's about another nest of 30 cents and it goes to new recovery high look at the spectacular move in the weekly chart basically going from the 60s just about a month and a half ago two months ago now at 129 I would definitely call that a double that's spectacular action not all of the solar area has done this so this is a fantastic stock so and my question to myself has been for I've had it on my list on my watch list for so long and yet I haven't done anything with it I'm not sure why because it's an area that I think is right for expansion and look there's this channel we've inside track repellent zone in the monthly chart so you remember we're looking at this here I've seen it so many times like oh I always forget to look down at all my notes that are right for every day because I get some carried over the questions that come in etc and look we've got right here it's not clicking wise oh there it is so we've got little chapter we've inside track on the daily chart just slightly higher highs and this is the pattern this is either you break significantly to the upside form was like a rising falling axe pattern or you start to pull back and you're full in some of it in this case going to the hundred and twenty five hundred and twenty two area that's the daily but and because the Mac these kind of weak and this is one of those areas where I've taught people for so long when I get my courses there are you've got you can't just rely on one indicator you can when it gets to the end of a run there's a particular indicator that's really important but look at this if you use the Mac D you would have got out of this at this peak G would have said oh peak G or C1 C2 pulling back sharpie and that was around about the 15th or so August and yet look the stochastic went under 80% it's now at 83% that's good on balance volume is really good it's a little overboard but the Mac D has been negative since the beginning since the middle of August and they would have said oh man be careful no look how strong the 90s above the 14 and it's still very strong even though there could be a little bit of a short-term pullback it's going to take a move below 115 for the for the nine to cross negative so this is still very positive so on a daily basis the only way if you're very long term oriented then the only way you can look at this is to say I'm going to start a position here preferably actually do it with a call option in the money call option is at 129 89 maybe you go to if there's 127 50 you can buy that and you go out you go look this is this is September you go to October November and you say this is the position I want and I've got my foot in the door but or you can split it up into three positions say look this is overbought by any measure right now even though the technicals are good but it could still go a little higher so I'd like to nibble here at 120 you're like the Amazon just nibble to get a feel and I've said I don't want to do anything yet with Amazon but in this particular case with first solar FSLR up 2.23 at 129.82 I would say you could nibble here but it's really just a starter position it's a little more than a nibble nibble says you're gonna buy a hundred or you're gonna buy 20 a very very small proportion of that would be entering right now even if it's just a couple of shares right now but your real thing is what happens if it takes out the high that was made at 120 121 91 let's call it 122 if that 122 high gets taken out that was from mid-August then there's this whole area between 122 and 115 that could be a digestive phase so I would think of it as a starter position knowing that there's a greater chance that it starts a digestive phase than a breakout phase when I mean by breakout phase is that it breaks out to the extent that it turns 126 into support because it's trading at 133 I just don't I don't know if it's gonna do that right now but I would then start my my real position the first part of a real position on a pullback and see how it holds the 14-period moving average which it hasn't even since it broke above right there when it crossed positive back in the 19th of July at 67 it's not even touch that 14-period moving average it's walk the nine-period moving average this is really good action now let me get back to the monthly and I'm just going to say within this context it's in a very strong up channel but it's at the chamois inside track there we are so this is you know and there's it's in an up channel beautiful up channel high highs high lows this is a much more severe pullback but look at that big rally so it's had these big moves and then it gives it has a digestive phase so that just says in the monthly chart I'm wondering nice this is not an all-time high because I remember the screaming once upon oh there you go okay the all-time high was in 2008 and you remember when all these solar stocks were just powering higher it went to 317 point zero zero how about that for round number everybody applause round number three one seven round number high amazing okay dropped a little bit it dropped from three hundred and seventeen point zero zero back in 2008 to a little bit of a low right there in June this is the monthly chart June of 2012 and $11.43 would you say that's a bit of a pullback I'd say it's but 90 95% of something pulled back anyway so I don't like to look at stocks as oh it was once a 317 is going back we've seen that stocks in a particular phase can make a high and then wait years decades before it gets there so let's forget about that but this high that was made right here at 175 point 45 February of 2011 that would be a very big stretch this this digestive conglomeration right here in the 200 and I'm sorry in the 51s one of my say 51 this particular right there in a hundred and twenty says that your left side right side five target I'll do that to you I'll be back in them on the dozen captain tight next hour guys up on 60 are you grinding in the market but seeing little to no return or are you a successful trader simply looking to make your job a little easier learn to take the path of least resistance with David White's powerful trading newsletter 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 the 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 and subscribe to 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 and 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 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 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 everyone so yeah as I said this first solar is looking very good at 129 it needs to break out and hold the 130 I would I say 130 150 area on a weekly basis to say instead of having a sharp pullback right now it has a little bit more of an extension to the upside but this chapter of inside track repellent zone I suspect it's coming back into it even if it has a bit of a balance so I love the chart but it's it's a very as I say I think an option a call option would be a better way to do it a couple of questions XOM XAM is Exxon mobile it it has these big spikes it has gone to a peak C it also has this pattern this this kind of cup pattern and it's fading to go to the 105 57 level at 94.26 so this says to me that crude oil is in play in the sorry the multinationals are in play but crude oil is really is very significant that crude oil is finally going look at this crude oil is pulling back very sharply I had said yesterday a close under the 83 83 level suggests to me that we could start to see other things in is this telling us that there's a world depression coming on because crude oil is not in demand no the other factors that are going on as well and that's the reason why I keep saying check out jets this is the I shares this is the US global jets ETF it's holding quite nice up to only 20 cents of 1731 that needs to move very nicely with the IYT the transportation index now he has a couple of things I wanted to show you I don't want to run out of time for this ENVX ENVX look at these double tops you know I've spoken about this for over a year and a half now it's incredible our markets make double tradeables go to highs and they make a double top and then pull back so ENVX is one EA is another EA on the weekly chart I believe it is well right here look at that double top and then look how sharp he's pulled back that is Electronic Arts and ECPG ECPG weekly chart look at that double top and look at the sharp pullback have a great day stay tuned for Steve Rhodes check out my opening for daddy news there