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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 Louis's welcome to the offices of Duke and Duke 100 South Broad Street Philadelphia Pennsylvania on the second floor I am going to talk to you about the stock market today folks I sent a video out to all the people that follow me both of them and what I said was we have probably the most very scenario that I have seen since January of 2021 folks I posted the chart here of the E-mini S&P and you can see here we've hit the 61% retracement from the high in January of that year three times you can see the perfect symmetry here between lows and highs it's 27 up days just absolutely as about as neat as you can possibly get and the second thing is if you look at the secondary high this is also gone right up to where it should have stopped it's either today or tomorrow that's 27 days at that ends up today now as you know we've had Norm Winsky on on Monday we had Tim bossed on yesterday today we have Jeff huge Tim bossed and of course Norm Winsky do the astro stuff and they tell us about this big solar eclipse that is here with the new moon and we also have mercury in this in the in the wheelhouse here we also have Jupiter these are very very rare things that do not happen very often Norman pointed out that 10 out of 10 times this has caused a correction in the market sometimes a severe correction Tim boss pointed out the same type of thing does that mean it's going to happen no the very first thing I did when I did this video last night I said this is where you've got to be the most careful because when I come out and say something like this I'm only right about 60% of the time and this could be one of those things I'm going to show you a couple things that might be telling us that we're wrong but we're going to see what it is right now what I did do I didn't sell the S&P I sold the weakest of the three stock indices which happens to be the Russell because it's been in a tremendous bear market the rally we've had here has not exceeded the 382 retracement from the high of December 18 months ago and so that's why I'm looking at it that way okay so that's the other thing the second thing is that we we I'm not going to go into that secondary thing because that's trade is working and I should probably shut up and not say anymore about it but anyway let's move on to a couple of things that I wanted to mention to you we've had an order here I'm going to explain someone asked me to explain why I was various the gold up at the 2060 level and I did that three four times on here but I'm going to show you the same pattern upside down okay this is the same pattern that was in the gold only it's upside down you see this big black line here that's a 1.618 expansion Bryce Gilmore taught me a lot of things during the times used to come to the Pismo Beach House this was the most important in my opinion because it tells you that you're at the end of the line the truck stops here you know you can't pass the buck any farther than where you are right now we've been waiting for seven days to buy the hogs at 85 10 today they opened lower it went down to 84 80 the 1.618 expansion on that move are you looking at that folks that move took seven months to complete and it hit that number it all within 10 points it went 10 points below it and immediately rallied $1,200 today it's given a little bit of a back but it's still up strongly on the day so that's telling us that this thing is acting actually pretty good so what you do in a case like that is you make your first profit objective which was you know $1,000 you put your stop at break even on the second part but let me explain to you why the 1.618 is so very very important this comes out this is what you're going to be looking at here now is a spiral mirror ballast also known as the Fibonacci spiral what is important about this now this is expanded of course you can see the pyramid triangle right in here like that the Asasoli's triangle but if you look at this you see how it goes around this is where the 1.618 expansion stops right here it starts in here and makes this spiral just like this and goes around and around and it gets to that point that's why that's important the mathematics behind that which is really simple it's addition subtraction multiplication and division is shown in the chambered Nautilus the Ammonite that's we have those usually come from Madagascar Sarah and I collect them and they're really spectacular because I have I think I have four of them on my desk here but you can see this is the same Fibonacci spiral that you have through here and this is the square just right out of Pythagoras Pythagorean at there that shows the five eights and three eights and all that stuff and that's what we're trying to do and when we put these things together on a price chart that tells us that we're at a spot where may it may work and it may not work and that that's all you have to all you have to try to remember now let me show you why I think we could possibly be wrong in the stock market and this one's I've been talking about this one for quite some time but this is a pattern that worked very well for about a week but it didn't it didn't work over the last several days look what's happened to Apple folks remember that magic number of 66 166 a share we hit 167 today and not only that the perfect timing that was here which happened last week on a Friday is now broken it's gone to the upside now we haven't matched the exact ratio yet and maybe this is a false breakout but that's that's number one okay now the second thing that could be happening that I all I think is I could be wrong by a few days I don't think I'm wrong eventually but by Friday I think I'll be proven right but again I could be wrong right now it looks okay but okay it only counts in horseshoes and hand grenades let's move up here and take a look at the next one that I wanted to look at which is the I think it is the Dow Jones Transportation because I watch that because that's really a big thing and the economy also Stan Harley pointed that out to us yesterday now if you'll notice here you can see the beautiful ABCD patterns here there's your ABCD at the top there's your ABCD at the bottom we're right at the 61 percent retracement yesterday and we close lower and look at this we're coming right back to it again that means we could continue going higher this would tell us this market is not going to top until Thursday Friday or even possibly Monday that's the timing factor that you have to look at so I hope that makes sense of what I'm looking at because I am being very careful right now we're in a break-even situation but you know that could easily change and we could lose and go on to the next one and that's all you really have to do now I had more people ask me in the last two or three days about the astral stuff because I have these folks on as guests and I respect everything they do and I've written some books on astrology that give me some ideas but the astrology stuff that takes second place to the pattern recognition folks because that that's how I make my living you know you can't you can't put an order in saying you know buy on when Venus squares Uranus they ain't going to take that so I'm going to go through this when we come back eight seven seven nine two seven six six four eight 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 steve road 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 roads 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 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newsletters are packed full of tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio get tom o'brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at tfnn.com tfnn educating investors okay folks uh when i got into this astrology stuff you know started back at Drexel when mary rivers came in and said buy silver at 11 45 in the morning and sell it two days later at 10 20 in the morning and you know that worked very well but she was only bullish and it was going up in a wildly bullish market from 76 through 1980 so it was held heavily skewed that's why she had so many winning trades in a row but if you followed it after that it was only right about 60 of the time i brought up this chart showing you the full moons and new moons on here because that's basically nothing than a 14 day cycle and it starts the cycle with the new moon which is tomorrow which is the the conjunction at zero degrees and it goes around to 180 degrees in 14 days and that is the full moon and all i do is i go in and i look to see where the prices are at that time where there's an expansion contraction abcd and that's what i try to do i keep it as simple as possible i don't bring it out very much because i frankly don't trust it because i don't understand a lot about it the reason why don't i'm looking at only a small piece of this puzzle that's why we had tim boston and also norm winsky they understand a little bit more a lot more than i do okay because they're looking at the inner planets you know like mercury and venus and even as far out as jupiter and when these aspects line up and they can go back and look historically what happened during those times then you know that it's going on if you remember i've shown you these stelliums where all these planets line up in one particular houses that's what got me into astrology folks when i was working with dr miller in 1986 she showed me the major lows in the stock market in 1932 she showed me the top in 1973 she showed me both bottoms in 1974 the big bottom in 1972 in the stock market before we exploded to the upside and then of course 1987 which was the crash year when all of those planets line up in a certain house and all these are in the certain houses that that's when it all lines up now we don't have something like that right now we have some things that are powerful but nothing like that all i'm looking is the fact that we've been at these levels for so long that it makes good sense to think well maybe this could be the high and that's what i'm that's what i'm looking i'm taking a probability now we started out pretty good but that doesn't mean we're going to end that way you know so that's all i can tell you and i mentioned to the folks i said whenever i get this way be careful be very very careful now it's getting back to abcd's let's take a little trip across the pond not going to cost you anything but we've been watching this thing unfold for quite a while this is the uh the footsie uh you can see the double abcd patterns in here i question this one right here it fits pretty nicely but the problem is it's not a ratio it's not a 382 or anything and if i can't get at least a 382 ratio i don't count it as a swing because it's a non-tradable swing so i i don't trade it so that's basically what i'm looking at okay now let's move on here and i want to go across the pond or go across the channel there and no you're going to go north not across the channel we're going to go up to to germany and we're going to look at the german dax and here you have a very very nice symmetrical three drive to a top pattern that is really nice that's the one as you see it in here you can see the yellow one that's the that's the big butterfly okay but then the three drive is the one that's color-coded you can see this and it's perfectly symmetrical folks because it's it's in this a four-hour try so this is several days forming and we've come right up to it this is one of those times what you're setting right at the 1.618 just like we were in gold the other day just like we were in hogs today same type of thing so this is what we're trying to do when we're you know pointing these things out to you is that we're trying to get the patterns and ratios to line up perfectly if the astro stuff comes in that's good but if not you can't go to the bank and say hey venus is squared you're gonna put 50 bucks in my account not gonna happen no no no you've got to be able to say look i gotta buy here sell here put the order in and do it i don't talk too much about the astro i talk very little about it for two reasons one my knowledge level is a little skeptical let's put short short change even though i've studied a lot i don't understand it and i'm part of it was being a catholic i was you know they told us when we were little if you you did astrology you were the instrument of the devil but these are the same people that told me that i was going to go to hell if i ate fish on friday and uh but anyway that was an economical thing anyway that that's what i'm trying to get across here because people ask me why don't i do more astro stuff the reason why is shane's million norm winsky tim boss bill meridian all those guys are far far better at doing that type of thing i i make i try to make money at this folks and all i do is keep it as simple as possible simplicity beats complexity that's the bottom line of you know what my whole idea is and uh so i i hope that makes sense because i try to answer the questions the best that i can but here again you know it could be wrong now let me take a look we've looked at bank of america that not bank of america we looked at the apple showing you that it's acting very very strong some of these other stocks are not here was the big news we had yesterday with bank of america and the stock never ever traded above the 382 retracement of that whole move more than five minutes and it's down a tad today so that was one the other one we looked at was goldman sacks i'm not going to bring it up because i don't want to be running over these things over and over again to what they're doing but i'm just trying to get a a handle on what i think things are what things are happening now i wanted to talk just a moment about silver because we mentioned this yesterday and silver had a big reversal today which was uh i'll tell you i like i said yes i don't even look at this this is just a 60 minute chart but there was the 382 yesterday there it was again late in the afternoon we pointed that one out now the market did not make the abcd level to the downside all it was able to do was to complete this small abcd pattern right in here and then it's rallied to be up on the day now gold isn't even close to being up on the day but silver is really moving folks the premium on buying silver coins like use silver dollars or the silver tokens is 16 percent that that's so ridiculous i can't even believe it in all my years of doing this it was four percent and now in the past few years it's gone all the way out to 16 percent part of that is the demand you know there's it's not hard to make it although you get as a john vay machine stamp the coin and you got a you got a silver coin so that's why you got to be really careful and here shorting this puppy because sometimes it works good like it did here but uh we'll see we still got gold to the downside we think we've got a really good handle on that that it should get to 1962 that comes out in a few days probably because we did rally 20 some dollars from the bottom today which was a very strong bottom right up to the 61 percent retracement of that previous swing and now we're going to have to get in and pay a few bills because when we come up and the break which is going to be here in about 45 seconds or so we'll have jeff huge of alpha insight so if you have any questions for him it's 877-927-6648 and he has some of the very best stuff that is available out there so we'll be right back boys and girls 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 every monday morning i published a gold report with coverage of gold silver bonds the xiu hui gdx as well as more than 30 different mining equities to see for yourself the types of profitable trades that are recommended within the gold report sign up now by visiting tfnn.com don't miss out on the next great gold trade sign up today everything in the universe is governed by the fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork new patterns in the stock market to stay on top of 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tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv live every market day from 8 30 a.m to 4 p.m eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com okay folks we have Jeff Hughes of alpha insights on the horn today sitting in the chapel of trading my friend how are you today i'm doing great larry thanks for having me on the show oh it's our pleasure you have some great stuff you're going to talk to us about the breath of the market right now yeah you know as i've been saying for some time now breath breath has been narrowing and it's now extremely narrow in fact what we're looking at right now is a performance distribution dating back to the february 2nd eye in the s&p 500 and if you look to the right hand side you can see a lot of the major indexes especially banks are deep in the negative territory in fact there's only three major indexes that are actually positive since the february 2nd eye through yesterday's close and probably through right now and honestly the one on the far left is the new york fang index these are the top fang stocks the largest mega cap growth stocks in the in the world the second best performer has been the nasdaq 100 and the third best performer has been the s&p 100 all of which are dominated by these seven stocks you know which ones they are microsoft apple google amazon nvidia tesla and meta these stocks are trading at valuation levels that are more extreme today than they actually were when the market topped back in january of 2022 and in fact if you look at the average stock in the s&p 500 looking at the equal weighted s&p 500 index it's actually down six percent since the february 2nd eye will share financial or will share 5 000 index which is the broadest index is down almost two percent the average stock in the nasdaq 100 is down almost two percent and small and mid cap stocks are down around 10 percent banks are down almost 27 percent so i mean this has been a a market led by seven stocks and if you don't own those stocks you are not making any money since february second yeah that i can understand that that's for sure i saw these banking stocks well they have taken them to the cleaners now we're going to talk a little bit about sentiment you've done some really great work here so where do we stand in the sentiment gauge today jeff yeah you know and i won't take credit for this this is the cn and the sphere and green index and it's really a compilation of around seven different market measures that really look at some inflection of behavior in the stock market be it momentum or breadth or volatility and when they combine them all together we can get a sense of whether uh the the sentiment around the market as um is neutral it's been complacent or is greedy or is fearful and um maybe uh presenting an opportunity today we are back up to the highest level that we've seen since the february 2nd peak uh we actually got to around 70 on monday closed last night at 68 it doesn't necessarily need to hit a new extreme high in order for us to reach that point of complacency that tends to coincide with a major market top we are right there right now uh with respect to on the level that existed back in august of 2022 uh when we made that uh important height about 4300 on the s&p uh we're near the same levels we saw uh in uh november and in february where we also had these interim tops for the market uh sold off aggressively in the most recent case about 13 percent wow i know i looked at that and i looked at the market and i i made a mistake i i got too emotional doing a video last night i said the only thing bad about this going short the market now here is because i can't see any reason how it could fail and i said every time i've ever said that it's not a good thing so i said make sure you protect yourself because i look at this thing and i said how could anybody buy stocks up in here but you know i'll know the three people that subscribe to me uh two of them believe me the other one is still skeptical so let's take a look here uh at the next one here and we'll uh look at the internals because this is another thing when i look at this i said come on i mean give me a break this can't be happening but there it is you want to explain to folks what this means yeah we look at three measures of internal health of the market the the market's breadth this is just the f and p 500 mind you uh we look at the momentum when we look at net advancing volume at the top frame really is a measure of of the dark blue line is the five-week moving average of net advancing issues and what we're seeing is that we're rising right it's positive about 22 percent of issues are are net advancing as of yesterday's close but that's a lower high than we saw and in the late january uh peak of this year so it's a negative divergence given where the market is very close to that high also if we look at the momentum this is a unweighted measure of momentum of the s and p 500 constituents again barely positive and a much lower high than we saw back in late january and then of course uh the the bottom frame is the net advancing volume and and while we've seen some improvement uh in net advancing volume uh the recent high of the five-week moving averages well below uh the past january high so these negative divergences tend to emerge before a major trend change and that's where we think we are headed okay that's another one let's get to the next i'd love these charts because i i can understand what it means i i don't trade off of it because you might just look at the price chart and if i see it's got a pretty good chance i'll take a uh calculated risk speculation is what i call it i don't gamble i'm intelligent risk speculator and hold on let's get this one up here so you'll be able to see it here this is the vix this is the one that they had on cnbc yesterday showing you the fact that the vix was at the lowest level in three years or something is this what you're seeing jeth yeah you know what what we're seeing here larry has two different views of the vix the top frame is the vix itself the volatility index the bottom frame is the v vix the volatility of volatility and historically if you just look back at the pattern when the vix is making a new low anytime the v vix the volatility of volatility does not confirm it in other words it diverges positively makes a higher low that tends to precede a reversal in the vix and so oftentimes it's a vix spike and what we're thinking at this point just given the the weight of the evidence around this is that we would expect a pretty dramatic reversal in the vix perhaps much higher than the recent highs we haven't seen a vix print above 40 percent in over two years we think by the time this volatility surge peaks it will likely achieve a level far above the 40 percent level that we've uh kind of looked at as kind of being extreme fear if you will i remember the vix hitting 89 back in the dot com you know fiasco when it was bottoming but boy that was those were days where and that was really volatility i i you know when i saw that dot com thing you know i i thought i was seeing a once in a generation type move which in fact the market dropped 85 percent but boy that mean everybody was just absolutely incredibly bullish you remember they used to have the i don't want to take your time sorry we want to take a break here but i remember the ads remember the guy that he was taking pictures of his rear end on the vax machine and then sending it to someone who was bearish i i always remember that one and and then the 12 year old kid that had his own helicopter oh those are back in the days of those were fun hey we're going to take a break here we'll be back with uh jeff huge of alpha insights here uh in just a few short seconds i hope and then we'll pay a few bills and everything will be copacetic i hope i got the timing right and i did we'll be right back folks you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by basil Chapman creator of the trading methodology known as the Chapman wave the Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by basil Chapman 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 are you looking for a way to consistently add winning trades to your portfolio Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded tfnn over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at tfnn.com tfnn educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade labu or labd directions daily s and p biotech three times bull and bear ETFs visit directioninvestments.com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-476-7523 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 principle 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 Jeff huge on the line here Jeff would you do me a favor please I posted a chart of the VIX pattern showing topping and bottoming could you could you send me a copy of that chart because I tried to copy and paste it but it's got those black things you know from the snack snag it thing and I'd like to get it as clean as I possibly could just send it to larry at trading tutor.com if you would right now oh no no no no anytime anytime no no no we just tell us about this chart because this to me you showed us to us last time you're on a couple weeks ago and that was one of the reasons I was starting to look for a potential top and now it's jumping out at me but if you would send that to me I'd really like to take a look at it sure well let me tell you a little bit about this study you know we've we've looked at this over the past year and it's been a pretty regular repeating pattern every time the VIX is spiked up above 34 percent it's been in the neighborhood of a tradable bottom in the S&P 500 you know within days to possibly weeks at the latest the flip side of that is every time we've gotten down below 20 percent on the VIX it's marked an interim high and you know most recently of course that was the February 2nd high where the VIX was bouncing around kind of sub 20 percent for some time but we just reached a level Larry last night where we closed at 16.83 percent on the VIX that was the lowest level seen since early January 2022 just one day before the S&P 500 topped and it's a whole time record high we think that's significant for a couple of reasons number one you know we think it's it's extremely compressed and when VIX gets this compressed uh compressed rather it tends to revert to the mean okay it's a very mean reverting index in the first place second of all if in fact the pattern holds together it probably marks an interim high in the S&P 500 it might even be yesterday's high we're certainly within the neighborhood of that most likely we'll know for certain once we see a reversal on the VIX and a daily close above the 21 day moving average and once that occurs it usually never looks back we just we just keep going off to the races and like I said in the prior frame you know we were talking about the possibility of a VIX spike and I think a surgeon VIX well above that 34 to 35 percent range that's kind of held the you know the extremes in the past year I think we're going to exceed 40 percent this time and possibly much higher before all this is complete let me ask you a question you've been doing this a long time and I'd like to ask you 33 years 33 wow that's pretty good listen what I'd like to ask you is this you know whenever I hear someone like Janet Yellen or Bern Bernanke or what's his name Greenspan say anything like well this this is yeah yeah Jerome Powell that well this this serious thing is all finished like our banking thing that's all taken care that's not going to be a problem anymore I mean I take that I mean I that's to me that's a giant red flag I mean because I don't trust those people as far as I could throw them and you know I do feel that same way because I I that's why I'm a charters because I've seen them do this time and time again and that's why I see oh everything's okay now yeah yeah let me put it this way in April of 2008 Ben Bernanke came out and said by our work we see a mild recession in the back half of 2008 well what we really saw was the greatest financial crisis since the great depression so they miscalculated the Fed is often wrong and you know so far they haven't predicted anything correct you know they got the inflation wrong uh they negative interest rates yeah the whole thing they just have completely been reactionary to whatever the you know prevailing forces of the economy are they're not good at predicting their models are very backward looking yeah the dumbest one to me was negative interest rates I mean a three-year-old could figure that one out I mean guys with PhDs you know say I I'm going to give you your money and I'm going to charge you for holding your money and I can't guarantee that you're going to get it back hmm that's a really good deal you know I mean hello operator my god that's like 16 or 30 pieces of silver almost let's get on to the next one here you're looking to the most various setup we've had since august I think so you know back in august we saw what I believe was primary wave to a counter trend advance the peak on august 16th and from that level we saw a an epic plunge from about 43 and a quarter on the s and p 500 all the way down to 3500 that was 825 s and p points in a matter of two months okay we've then basically retraced about 61.8 percent of that decline I think about 78.6 percent of that decline through the February 2nd high we haven't quite gotten back we've actually retraced about 86.4 percent of the decline off of the February 2nd high into the March 13th low interestingly you've got a lot of similar numbers here you've got October 13th December 13th March 13th you've got December 22nd February 2nd another 2-2 we've got April 18th so basically April 13 plus five we think the next big number on the downside could be something like May 22nd our cycle work here we've applied a 50 day cycle that's been very observable certainly going back to the august highs into the closing prices or the lows of October and if we just look at that 50 day cycle we could see the ebb and the flow is pretty consistent and and the next bottom that we see is coming in late May in that May 22nd time horizon what's also interesting is Paul McCray Montgomery's Fibonacci time cycle work is at play here as well on on April 6th we had a minor Montgomery cycle turn date and on the 20th tomorrow we get a major Montgomery turn cycle date or cycle turn date and and I think what we're really seeing is this minor to major cycle rollover where we had a minor uptrend that's turning into a major downtrend and so far the count looks like this we've got intermediate wave one down into the October 13th low we've got intermediate wave two up into the February 2nd high we've got minor wave one down into the March 13th low and now we've got what appears to be a top in minor wave two at yesterday's high so if we're correct we should see this rollover closed back into the channel and break down and once we've taken out kind of that I would say maybe the March 22nd high which is that wave a high that would confirm I think most of my suspicions that were in the midst of minor wave three down which should take us into a third wave decline at three degrees of trend and could carry the S&P you know down into the mid 2000s Larry oh yeah well that would be a that would be something tell the folks how they can get your free newsletter Jeff yeah you know we publish this newsletter the first Saturday of every month the next publication date is May 6th you can sign up on substack at hugeinsights.substack.com the title of the newsletter is huge insights the big picture where we cover everything from macroeconomic to market issues and we make our forecast for the month ahead thank you my friend listen we're going to have you on again soon and stay above ground on the green side of the grass and keep living the dream my friend I'll do my best thanks Larry look forward to it Jeff huge alpha insights stand up guy folks get his letter we'll be right back if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and 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for anyway uh this is the high that we were looking at that we're now made the 61% retracement of that already you see this low here was seven eight six of this one 50% of that one this is telling us that we're probably going to go up into Thursday and Friday and maybe get this level of uh 42 20 we're only 40 handles away you know we gained 30 of those handles look at this we drop 40 50 handles on the downside and you come back and you're getting 30 handles back real quick this market is not backing off and i think by pointing it out that thing with the dow Jones transportation and also apple they're still buying out there now the things that jeff brought up yep those are good but you got to go with what the charts are telling you folks this thing is not not broken that look at this this is not broken the downtrend in the last six days not one time it's never taken out the previous took it out wow it's a good old tarot grammar from st benedicts catholic school anyway that's what you're looking at here folks this still is still up and we get below this level which is uh 41 35 then yeah we might get a pretty good move to the downside but until that happens you know we're still going higher and um like i said uh be careful with what i say because you know sometimes i'm wrong and often wrong but never in doubt that's my motto so let's keep that in mind folks so we've had a heck of a run here at tf and remember when we had the old uh negative interest rates on the bonds how they kept trying to feed us that and we were looking at that big abcd up there at 177 and people said man are you nuts man you've missed the whole boat and like i said to jeff that to me was the biggest no-brainer i've ever seen in all my business hey live every day in an attitude of gratitude and may god bless stay tuned for the afternoon update