 testers. The following is a presentation of TFNN. The Tiger Technician Hour with your host, Basil Chapman. Call now, toll free at 1-877-927-6648. Good morning, everyone. Basil Chapman, Tiger Technicians Hour, and we're looking at the Dow, a very sharply at 548. I just wonder if I can, it's a little slow, the platform. That's, what can I say? So just look at this. The, this is the 10 minute e-mini chart, just from about 530 this morning, the e-mini S&P goes from the 3720s to the days high so far of 3777. And that was after a massive move overnight. So I had a, I have an indicator called the Chapman Wave Tring Gauge is based on Richard Alms short term trading index. I don't even remember anymore how he uses it. I know how it's made up, but I don't remember how he actually uses it. But all I know is that I use it only on certain numbers. If it goes above a certain number, it means within two sessions, the e-mini is going to have a very, the S&P e-minis that have a very strong move to the upside, which should help the markets, even if there's a sharp move down first. It just tells you be careful because there could be a really good counter trend rally. And if it's very low for, for decades now, we've been looking at it and it is, it says that if the Tring Gauge intraday makes a low but certain, I'd say below a certain number, then there's a really good chance. In fact, it's up in the 90% area that the Dow will in fact be negative that day, usually the next morning, but it can happen intraday. Or every once in a while, if it's after few, after the options expiration on a Friday, it either happens on that Friday or that Monday, that's the, those are the few times that it'll be incorrect. But what has happened periodically, and often enough, is that we've seen the Dow up hundreds of points in the futures and then hundreds of points in the morning. And then it gives back almost everything. Sometimes it goes negative. Sometimes it goes just like a plus 19 or plus 32 and then rallies back again. I think today is one of those days where it's not going to pull back. I mean, afterwards, it was up 600 points, the Dow at some point. So I don't think it's going to give back more than a couple of 100 if it does that. But I've got to be ready. And that's what I said to subscribe to my opening call for any positions that we've missed that we wanted to get in and we just missed or we had been in with the cost up that didn't get back in. This is the moment that if there is a pullback, we want that opportunity. We've done it on one position that we've wanting, haven't had any position in it for a long time. It's one of those stocks that was just absolutely decimated down almost 90% or maybe it was 90%. And it's in the area that if there's some kind of a comeback that should work. So yes, we just bought that. I almost said I never like to get the low of the day, especially under these conditions, because as you have an expression as you as you tap as you take your hands off the wheel to pat yourself on the back, that's when you hit the tree. And that's what I'm a little nervous about here. But I've got it. We've got to stop in place. And that's all I can say so far. It's rebounded strongly from the entry point. That's just not the issue. And and I see that the actual platform is all of a sudden slowing down. It doesn't matter. What we are looking at is the 10 minute e many made a peak e pullback quite sharply. I said to I popped it into the den said the 3758 and the 3752 level, our key support, it took out that both those levels. It went down to about 3746 or seven. And now it's come back to 3764. Look at the quick moves here. And basically what we're looking at is the speed from Thursday's turnaround to that very ugly Friday has just taken anyone who wants to get along and was getting nervous kept them very nervous. And then the spike today says, Now, what do I do? What do I do? What? Well, all you do is you put in your put in your buy, your buy, you put in your stop, and you just if it comes down to the area that you want to buy, another thing that I was going to do, I was going to do it yesterday, I was going to do it today. And I think that was the actual plan that should have been in place was that for anything missed or anything that we really wanted to get was to have a split position, you have a position at this crazy opening. But then you also have position lower down and quite a bit lower down saying, You know what, I want this particular issue. And the only ways I want to step in if I step in with only part of half of my position, I don't mind if it goes up, I prefer the whole position. But if I do get the whole position, it has to be ASAP, it has to be so that the second position is just as as you get it, it's going to be reversing back up again. You don't want to get it and have that position close at the low of the day. Now you got two positions that are losing. So you've got to be prepared that if you're going to split the position, either you put two stops in or whatever, you got to work it out that way. But that is another way of at least getting your foot in the door. All right, now let's go back to our story. I've got crude oil here, down two and a half at 82.89. And I've been worried about, I thought crude oil was acting so well as it was testing the chub weight inside track repellent zone. And that's, look at this, those are those two lines, the green and pink mini channel in a larger down channel. And it got reversed in a peak B and it's pulled back sharply. Last time it reversed in a peak C minus. And that's always a clue that you've got to be careful because if it did break out and if crude oil was trading at 93 to 95 over the last four sessions instead of way down here at 82, 10 points lower than that where it stopped at just recently. That's just not a good sign. But for the market, it might be a good sign in the sense that it says you haven't got that extra weight of crude oil spiking higher. On the other hand, it's also telling you that maybe the economy slowing down such that now it's impacting crude oil as well. Okay, let's run these numbers. Here we go. I did that in the update, market updated 10. Let's do it again. INDU. There go. Nice move up 578 in the Dow at 30,766 up 1.92%. I don't want to talk about the misses. I'm just talking about what it is. We are along the Dow through the diamonds. Yes, this is a move that you can see this is that I was talking about this yesterday that there are patterns that the lowercase h can go to a lowercase m. Not if it pushes decisively above the R chain. This case 30,454 back in early October that it made a slightly lower low. And that says, yep, the m pattern is viable. But if it closes nicely above the left side high, you've got the cup formation. And I showed you yesterday, there's this chap weight inside. This is the inside wedge target resistance line I made it. I said, I'm making it a thick green line rather than a dashed line. And here we are above it. And that says the 30,454 high that was out there on the left side back in September. That's the resistance I'm looking at. And it says that by I was being a little bit conservative. I was saying by the 25th of October, we're all we're this is not even the 20th. So we're on the 18th, got about a week to go. We should be testing the 30,454 level. That's still in play. But the stochastics only at 68%. I'd love for it to be at the 80% or higher level. I'd love for the nine period moving nine period. Oh, it is. So the nine period moving average, you can see it says L that's long. That's the first time in months that it has crossed positive. So this is a good sign. But the days young messy, if it stays positive all the way through the rest of the day. Well, and you get to the dog, I'll have to do I'll be right back a lot of questions and we'll deal with that as soon as I reach out. 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 CIBC 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 VGC. This to gold executing a strategy to create shareholder value. 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 with a powerful of Tom's advanced technical analysis in our gear 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. Everything in the universe is governed by the Fibonacci sequence. 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TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours. The Tiger's Den available to all Tigers and Tigresses 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. Folks, we're back. Let me just I need to clear get all those numbers done. But there's a Chapman week peak C1 C2 right here in the one minute chart could be pulling back members and Chapman wave will go for at least a peak D in a buy signal to buy mode. Well, we got that at 9 30 we got that peak D. My thinking is that we pretty much made some kind of a very short term top that I'm talking about near term about in the minutes charts, not in the daily chart. And that if there is a pullback under 37, 3744 at any point, I think that it's going to take a whole new generation. We're talking intraday of buyers shouldn't say generation that I should say a new slew of buyers, but the people who bought at the open could be trapped at least for a little while to make them nervous. But I think that the turnaround that started on Thursday morning is a viable turnaround. I think it's here for the intermediate term short to intermediate term. And unless there's some kind of a news event that takes the Dow back under 29,500, let's say 29,300. There should be higher highs and higher lows doesn't tell you how high doesn't tell you how other things tell you that. But that's the way it's looking right now. The weekly chart needs a lot of work to repair all the damage certainly the monthly as well. So let me just continue here. I can't even remember where I left off. I'll just do it real quickly. S&P leg B up 66 at 3744. The big challenge will be to get to the 70 the high today so far as 3762. I think the 3770 is really going to see a whole new bunch of buyers come in if we can get there and hold there for 90 minutes to two hours. That's going to make a big difference. I want to go straight to the VIX index and explain something that I'm looking at. I've been talking about for a little while. The patterns that I look at I've had webinars on this way. I talk about the narrow rectangle and the wide rectangle. In this particular instance where the volatility I guess I better just do this if I can find it here. Let me go to the my news letter here and then we click on that. Okay there it is. Move it away and we're going to go right here. In the patterns that we look at actually I'm going to go one foot. We try to identify the Chapman wave methodology a low that is the low. You don't know if it's the low until it starts to move higher but from that starting position you want to see a strong leg A and then a pullback maybe but it mustn't take out the low. The moment by one penny if you take out the starting point you have to start all over again but you can chop around your starting peak A, B and then pull back make another A, B but not a new recovery high and it can go on the longer it stays that way without taking out the left side low the greater the chance when it gives the buy signal it's going to go very quickly to a buy mode and go to at least D and probably go even higher. In the Chapman methodology we look at the alphabetize and essentially grade each higher peak and a peak is just that it's like an inverted V and what happens is it's alphabetical sequentially uppercase in the way up A, B, C, D you can even go E, F and G it never goes to an H it looks you'd have to think that it could have recycled at D that's where you get your greater chance of a very sharp pullback it can go to E but that's where you got to raise your foot off the accelerator hover over the brake and monitor very closely that's where the easy part of the Chapman methodology is done unless within three bars from peak D it makes a new high and a new recovery high that is and that'll give you a chance to be to say that could be a Chapman instant restart so it isn't just E it's E slash A, F slash B, G slash C and often we get to a G it pulls back looks like it's going to be a deeper pullback and then it makes the D for the second buy signal to buy mode and then it pulls back sharply anyway D is your objective and here we are look there's a peak D they went to an E and the VIX index pulls back sharply and then running again alternate count F slash A, G slash B, G slash C and then it goes to the D 34.88 pulls the flagpole pulls back sharply and then runnies quickly back again to just about 34 I think it was 58 or something just under the previous high but look at the measurement look on the left let me get out of this and go to this chart right here so there's a pattern that I call the H pattern it can have an arch that goes all the way back to the previous high but basically what you're looking at is in this large rectangle there's a rally that goes to the previous high goes just under right on or just above but the technicals are failing and therefore it says be careful because you can come back and if you come back halfway which is what we've done right now halfway into the rectangle midpoint instead of the cup formation that you had you've now alternated and you're going to go to an arch formation instead of the cup you're coming to the arch that's the dreaded H pattern watch out because if you take out halfway you can go all the way to the low and if you do that you're probably going to take that low out so that's the story and that's the reason why we're wanting forward for week and a half we've just been buying the diamonds and and either taking a little bit of a profit a little bit of a loss but we've wanted to be in and in this particular instance the fix index the day is young it's down only 53 cents at 30.84 it should be down at 29.90 right now with the with the market this high but the buying intensity of insurance is so high that it's keeping the volatility index high and the volatility index is made up of the futures but to me it's just the price it's like the the Chapman Wave Tringage I don't care about the makeup of course I understand the makeup I don't care about it I just worry about the price or I focus on the price and in this case if the VIX index of 30.89 down 48 cents actually starts to rally and goes back to 31 it's going to put selling pressure on on the market and I anticipate that today is a very special day because the Chapman Wave Tringage really doesn't work I mean we're talking about I haven't really checked it out but it was it wasn't about 97% accuracy rate over the last 10 years or so I think that's changed a little bit because of the makeup of the market on those crazy options expiration days that have made the trend either pull back very sharply to a very low number or the following session like we saw yesterday and there's an aberration unfolding but in this particular case I think that we've got to monitor that because if by the end of the day because you could still have the sell-off and then another rally later in the day if the volatility index actually trades under 30.30 at any point today that's going to give another burst of energy I'm thinking and I mentioned this in the den that there was that this peak E I didn't do the measurement I should have done it I'll do it right now I did it visually I haven't done it physically there it is you see this 10 minute chart in the E-mini right there and everything's right there well look at this look at the MACD and stochastic and on balance volume how powerful they were right there at that peak D then it pulled back and by a fraction it went to 37.77.25 right there peak E at 958 or 57 or something like that I'll tell you right now what it was if I can get this to move there it is at 940 and a look at the difference now we've gone to a link into the downside so gone from 2777 down 33 points I don't tell me that that isn't generally true cage work it's magic but not magic enough because I can't see it getting negative by the end of the day I'll be back this what if that I drew in as I was talking to you I drew in the left side right side price time match if you want to take advantage of this sector now is the time to 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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 hopeful so let me just show you this is a technique i i demonstrate here very often i've had webinars on it for years and years and years so what we're looking at is this price time i should remember bar symmetry i've had as i as i say i've had webinars on this bar symmetry the number of bars on the left can equal the number of bars on the right it doesn't have to be a crash on acceleration it's just a steady move up and i said the reason why it's always mystifying to me as to uh why there are instant not it hey let me put it this way the mystification to me of when people say that when the markets come down they basically they crash down and when they go up or the elevator up and the stake is staircase up or elevated down whatever it is um i most of the time that does not happen if you do enough charting you'll see that absolutely that's true but it's only in certain circumstances i mean look at the look at the right side of this 10-minute chart look how quickly we've come down where we were walking the staircase up but look at this chart right here this is the one-minute chart doesn't matter it could be a dating could be a monthly the charts and the charts it doesn't know it's a one-minute chart it's just a chart following the price movement of a particular time and look at this it goes from that level and goes one two three four five six seven eight nine ten eleven twelve thirty four fifteen seventeen seventeen uh bars up it goes to peak c1 just fails by 25 cents to make it peak d but it had the little ictus right there that matched it so i put a c1 c2 which and i put a red plus sign which indicates that it acts exactly like a d be careful because it could come down sharply it went above the pink 200-period moving average comes down and then one two three four five six seven eight nine ten eleven twelve three four fifteen six seventeen eighteen bars exactly it takes out the left side low isn't this a fantastic technique you don't need the arch you don't have to type it in you don't need the um the horizontal line you don't need the vertical line you could have just gone anything i'm sure everybody has something that you can type you could just put in an o right there as a midpoint and you could have typed in an x over there to say that's where i expect that to happen what it has and isn't it remarkable that now the s and p is only up 50 when it was up uh what about almost 100 i believe it was uh yep and um and it looked like oh my god where is this marketing gonna go and all of a sudden you get your peak dean you get your peak e failure with the the the technicals deteriorating on the right side even though it made a new recovery high and now look where it is it's pulling back very sharply so these are techniques that i like to use uh as i explain them to my subscribers uh i use them all the time and uh now what we're looking at is if there's going to be a left side right side price time match in the vixx index would you consider that from this low here you go one two three four five six bars up one two three four this is the fourth bar down uh would it take well this is the volatility index it's a different instrument altogether it has to do with emotion it has to do with a bunch of things and look now it's only down 21 cents so there are certain times where you want to use these things as if it's a mathematical formula and the other times you say i'm just going to follow this and all i can do is say this is the pattern that says this arch formation with weaker technicals on the right side same as that 10-minute chart this is a dating chart it doesn't know it's a dating chart 3488 was the high and around about the 27th or 8th of um uh september it comes back and on the 11th or 12th it tries to get to a higher high and it fails let me just get rid of this in case you can see you think that's actually a candle no there it is and this time look the mag D is a little bit weaker the stochastic is quite a bit weaker under well well under 80 percent and this is where you should start to see the arching over and in the the rule of thumb for me in the chart wave methodology is that after the rectangle formation when it starts to come back if it either goes just under right on or just above the previous high and then comes back and takes out a halfway point and i'll make it just let me do it visually right here so 3171 we're under the halfway point and it says be careful because you come all the way back to the base and that would say the VIX index could come back to the 2850 level and then maybe the market on the upside is done we're going to start to see something else or other things can happen all right wanted to get that out of the way let me just go back to crude oil look at that move down crude oil is trading at 8174 down 317 look at this lower lows and lower highs in the weekly chart it looked as if it was going to break on sunday night a week ago i had a special uh i had my market overview uh video that i was going to put out saturday there was a technical problem i put it out sunday and i said it's unusual but i'm going to do this just in case we're looking at the xle and the crude oil generally as holding a lot better and actually taking out the upside look the xle that's the s&p select energy spider fund is holding pretty well near the highs of the recent highs not the all-time highs of uh or use the most recent of 9331 back in june but it did drop to under 70 i mean that's a huge move down right or 28 to 30 percent and then around it's very sharply back to the high and now it's towards the high well there are in many ways separate vehicles crude oil is crude oil energy takes in all sorts of other things and multinationals oil service and just everything to do with energy um as well i probably i should check it out probably even has the solar energy as well so this is very different but in a sense they are in the same category of energy and uh but they are doing different things and was looking like energy was holding very well because it kept holding this up channel inside track support and then pushing to the upside now it's taking just a little bit too much time to go above that pd in the day to you at about 85 and it's at 81 45 so if by Friday you're looking at the xle and is able to get to 84 50 or 80 well what was the high there i think it was 84 60 something though it was 65 of 85 16 85 16 so if it's able to get even close to that that's a big positive uh it's certainly the daily chart but it helps the weekly chart monthly chart we have to wait for so xle is kind of in play and that means you've got the very big the biggies xl mobile looks like the xle in some way uh oxy oxy not not the same oxy is looking a little bit more i wouldn't sound like the oil chart kudo but look at this it's it keeps getting repelled at this huge i can just get it oh don't be slow there we go i've got you i've got you under my okay there we go you see the ox dental it seems matching in the monthly look at look at this beautiful cup formation second cup formation just at the resistance level it's gone to a peak e in the monthly chart you can see that oh there must be so much buying going on and now there's something going on oh is this guy i can't believe will this be a successful chaplain wave low trengage reading we're already down over uh from the i'm the high we only have 390 or something in the doubt anyway so look at this this is the oxy dental petroleum chart made uh lower highs and lower lows but look at how it's just finally gone about i do the the blue and the pink it's only to tell you the matching time frames so now it's making this um it's like a fulcrum consolidation i'm going to draw it in as if it's a stalk egg formation all right there and we're going to be watching this closely because these multinational oils i i don't think they're going away i think they they're in play here and that helps to excel the kudo is maybe one thing but these multinationals that's something else so we're watching this very closely that was x on oxy and as we're going to the break why am i forgetting oh cvx there it is chevron and look at that digesting gains actually oh it's going to a peak c in the day it's the same thing i'll be back in a moment now is a few ninety five sbs of 43 basil chaplain tiger you might think that if you want to be successful at trading in the stock market you're going to need a crystal after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave the chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by basal 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 stocks as well as entry prices target prices and stops to set for each trade david delivers his weekly newsletters every friday with updates throughout the week you can get the technology insider at tfnn.com for only 37 dollars and 50 cents sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer try it risk-free today with our 30 day money back guarantee 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 direction investments dot 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 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 ntsx under the symbol vgz i'm also we're back and the e-mini in the terminal chart pull right back to a foot support level and what we're looking at now is has most of the damage been done for those people who boarded the open they've i mean some of these stocks i'm sure have pulled back a very big percentage from the high of the day and is it going to make people nervous enough that it doesn't quite get there again at maybe today but it does in the next couple of days by which time they'll be really nervous and maybe gotten out already of the of the whatever it is that they've got this the way the market is acting from the low that was made on thursday especially if a person like me who really times and watches the market win by minute every day as much as i can and we either trading or doing whatever it is uh actually gets stopped out and could not get back in it's a little later um from that thursday position so i i'm looking at this and saying unless you got a bigger picture which says that the selling has been so intense that it's going to be a very bumpy takeoff but until the dow is actually trading in the 31 500s uh let me just give you this so i can give you exact numbers 31 there it is so the high today is in the dow let me go to the dow ind you more and more people are now actually trading the dow before people say 30 stocks let me tell you this is the most probably the 30 most important stocks in the whole of the market uh why because they are such a mix you've got financials you've got uh i mean home deeper you've got you're in every part of the economy uh good and bad even in insurance even in uh what wargreen boots i mean you're just everywhere so it's very important so if the if the dow in the next anytime in october if the dow can start to trade in the 31 300 500 i mean trade not just pop and break but trade there you've got yourself a beautiful cup formation that says let me move this away because we're not eating with the monthly chart right now we're dealing with the daily the daily is going to help the weekly and that weekly chart has so much damage that it needs to repair itself and it's going to take a little while so it needs to be trading into this ugly candle of the week of was that august no that was september i believe right there this this candle right here i'm looking at the weekly chart in the middle and that's the week of gosh this is really difficult today with i i i must ask if i think it was what is their dad i think was there from connecticut i i mislaid your email i'm gonna have to go back and try to search it in my in my files but i have it somewhere and i put it aside because i couldn't find it when you told me how i could uh re uh i could do some adjustments in my trade station platform to be able to mitigate this intense lag in the uh but everyone the week of the 90th of august at 34 281 that's that's that was so that was where that was the we're already gone short we were no we went short right there um we still have that short i don't want to change it that's intermediate term but on the basis we we're buying and the most important thing is to be able to get into this candle of the 26th of august 20 yes 26th of august and hold there that's going to be going into the challenge of this down channel there's a little mini down channel called channel wave inside track repellent zone which has been an incredible repellent uh for so long we'll have to see all right i i needed to go to the tlt i keep forgetting every day look the tlt is trading at 98.08 what does that do to the bonds well the t and x this is the 10 year look at this the 10 year uh there's no there's no h in the traveling methodology in the weekly chart there is a g i'm going to put it in here as a g just on the daily and it could be an alternate count this one could be i in fact i have to do it a g slash c why because there was i believe there was it just missed yes it just missed one two never it just missed in the in the high that was made in september the sixth or so let me just check the day september the sixth yes at 33 53 the t and x is a 10 year t note like there it is um we're looking at that is the i need to just check this cherry note oh forgive me for a moment i need to just go to this everything so slow i can't believe it okay so we're going to go right there pull it across and just see yeah so this is the t and x is in fact look at it that wasn't see within three bars it was four bars that it made a new high so that's not a september instance start restart in this case i have to think of it as maybe i put in a down arrow there and an up arrow there and what we've done is we've gone to a peak e slash a f slash f slash b pull back very sharply gone to a doji sorry september we've reversed uh candle this is the roman candle and we've gone halfway into the weekend says there's a good chance we're going to test the high so the g slash c and there should be a higher high but look in the weekly chart there is no there's your peak d oh oh but i can't make things up so i i have to be very careful here there is a chance that is this is a maybe a b oh i haven't i'm going to do some work tonight on the on this what what do i really think just based on all the technicals that i use in the chamois methodology is this a b in the weekly chart always a perhaps something else but it's a d in the monthly chart but what's happening is that the yields are up at the highs so the market in the moment is is is ignoring that the mo the market itself what i'm looking at is i think we might have completed the move to the downside almost this is going back to the market now i'm just saying yields are going higher and in the longer term it looks to me like yields are going higher based on the on the monthly chart until we get a peak d which is a lower high and then a very sharp fall back and then i've got to consider that something else is happening in the bonds that maybe we're actually looking at yields starting to improve wouldn't that be something and if you put it together look here's my dba a my dba this is the dba which we've had since 13.77 two years ago and it's screened up to 23 it's pulled back to 19 and it's come back again now it's got the peak d and an arch formation in the weekly chart that's not good isn't this telling us that the agricultural side is very much under pressure yeah we are long from just off the low 13.25 was alone in June 2020 very soon after that we went long and we're still long it's like again the dollar in 2020 we got the dollar as well dxy we're still long the dollar um there it is look the dollar we we went hey what happened to that oh it was right here we went along right there back in uh April of 2020 March was the low of 88.25 we watched to go all the way to 102.9 and yes we've taken one little bit off at 96 then watched to pull back didn't get stopped out of the uup we're still in a this is a late scene in the monthly chart of the dollar it should still go to a deep the short term it's making an arch formation so i've covered a lot i'm said that the bot deals are going higher i want to see if some kind of an intermediate term low in the daily i'm talking about the intraday is being made here so that we can start to move a little higher later in the day i'll be back 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 whites 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 a path of least resistance david whites 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 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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 all right folks the question came in about venom viper energy partners yeah this is the same pattern hasn't gone above the previous highs that were made back in April May in the 35 36 area pulls back very sharply 25 that's always 10 I mean that's 30 percent decline then it runs up AB a little double top right here is holding one of 32-13 I would just say if you're on a short term oriented at 32-13 if it closes under 31 it could come down quite a bit if you're more intermediate term I would just be holding this I wouldn't fuss in and out look the monthly charts making high highs higher lows this is doing perhaps an art formation within the rectangle of the weekly I'd be holding it I so far I think it's holding quite well so this is what I want to say so question came in a number of questions I'll deal with some of them tomorrow there were just general questions and I can deal with that tomorrow I wanted to go through a bunch of things in pattern recognition today so amazon I'd said the other day maybe I spoke about 135 you can nibble that was way back just a just a touch to get a feel for it but when it was going down to the 105 area said and it rallied I said yes you could enter now you could start your position but even this I would have a tight stop and then yesterday I said now it's acting much better so it's rally to 116 70 at this point it hit 119 early on yes this is if you're looking at the chance of a more intermediate term amazon must especially going into the season holiday season it needs to rally I was going to do something with the RTH today I'll do that tomorrow so retail sector etc but yeah amazon is in plane to try to move higher but I wouldn't get too carried away I just maybe had this is a little starter position a real starter position but even there I would have 110 stop I wouldn't get too carried away let it let it rally so this is very important if the VIX index trading at 30.69 right now by the end of the day we've already had a big pullback from the high but if the volatility index is holding steady and goes above 31 30 that's going to say they're still selling pressure if all of a sudden it goes to 30.40 or lower by by the start of the that's a good sign I think we're consolidating off their huge