 The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. Oh, toll free at 1-877-927-6648 or internationally at 727-445-1044. Now, Larry Pezzavento. Okay, looking good, Billy Ray, feeling good, Lewis. We're going to start out our show like we always do with the German Dax. As you can see, we've made a beautiful 61% retracement, a Gartley pattern. If you notice that small pattern that just completed, that's a 1-2-3-4-5 expanding triangle, which is included in the 1-2-3 drive to a top pattern. A lot of stuff up in here on the Nasdaq, excuse me, the Dax that makes it look like it's going to go lower. One of the things that I looked at this week was the fact that the market has been so strong based on it looks like the things that Bill Meridian talked about with the really strong bias between March 15th and April 15th. And of course we're coming into the last part of that right now, but it's been very, very strong. I went down and looked at the smaller timeframes over the last two weeks, and we see some patterns there that certainly give an indication it's due for correction. There might even be one down day. You realize, folks, that the month of April has already preceded more gains than the whole month of March. That in itself is an outlier event, but the market has been very strong, so we need to pay attention to that. The next one I wanted to focus on comes from our friend across the pond, Mr. A.S. over there in the U.K., and he's bringing to our attention the fact that we have a really nice hold on here. Yes, Marshall, it was a wonderful time. We sure did. I should tell that story, but I'll save that for another day. We were at lunch with Marshall, and they were talking about old things, and the folks there said, you ought to share this with the folks, and it's not related to trading. It's about the race track, but I guess it's money management. Let's look at this U.S. oil chart, folks. We're right at the 61% retracement here in the crude. Right around that 6390, we've only been up to 6365. That might be enough, so we pay attention here to crude oil because we're running out of time on the long side here, and now the news is extremely bullish in crude oil. We're looking at a potential Libya problem again, and fighting again the Gulf, and yet the market is barely able to stay above ground, but it's a big 61% retracement with some other patterns in there that are very, very important. Folks, one of the questions that I received over the weekend is about trading times. You know, when I trade, you know, I look basically, my key one to look at, of course, is the four-hour chart, because that lets you see about six weeks of everything that you want to look at. I look at the dailies, of course, too, because that goes a little bit farther back. I don't look at weeklies and monthlies very often. Once a week, usually on the weekend is all I do because I'm focusing on risk, and I want to be able to see, okay, Mr. Z is asking why he thinks that I think that he is running out of steam. Well, I'll put my chart up here, Mr. Z, and you can poke holes in it if you like, but that's okay. I get holes poked in most of the stuff that I do. So here it is. We'll get up here, and we'll take a quick look here at the Crudo. There's what we're looking at. We had the three-drive pattern back there. That was the first of the double bottom. We had a beautiful double bottom. Also, just very, very close to the 61% retracement. It went about 80 cents a barrel below it. Now we'll write up against it. 63, 85 is the exact 61% retracement from the triple top that we made up there. You see the 135 pattern, and if you remember, and if you remember and look at that on the weekly chart, that number of $77 a barrel was an exact 61% retracement of the high that we made two years ago. So that, excuse me, four years ago. So that is why that number is so important. Now we don't have a lot of clear patterns coming in here in the Crudo right now, but it does have some things that tell us there should be some pretty strong resistance up here at that $64 a barrel. So that's just my opinion. And as we know, opinions are like armpits. Everybody has one, and it usually fails. The next question someone had was about the gold. I sent a video out last night, or excuse me, early Sunday talking about the fact that it looked like a gold was trading at $12.98, and it looked like it had $1308 written all over it. There were just all kinds of really nice patterns in the gold at that time, and it was showing that it had a pretty good indication of making that level if it were going to do it. Now I will try to find it if I can, and by golly, and by golly here. Whoops, that's not it. I thought I had it, but that's not the way the trading gods want it today. It doesn't look like I have it right now, but maybe I'll have it in the future. I'll try to find it. But anyway, it was $1308. It was a beautiful ABCD pattern, and the number for the 61% retracement on that gold comes in at $1309.1310. That's why it looks so very, very interesting. So we'll watch that one extremely carefully. Now the platinum. Platinum looks like it's making a three-drive to a top pattern up around the $950, well, it's already gone about $915, between $915 and $924. We've been as high as $922, I believe, today, but that could go a whole lot higher. We don't know. It's got a chance. There's no question about that. So let's just keep an eye on these. Well, no problem, Mr. Zeeb. I certainly appreciate all the work you do, and I know you've been long gold. I saw that last night, and I said, well, that looks like a really good one, and it's already made the objective that I was looking for, which was $1313.08. But whether we'll see if it goes much higher than that, we'll have to remember. Remember, it was a really good bias here in the metals, because as we pointed out to you on Friday, we were looking at silver, and if you look at really closely, we had that double top back in January and February. Then we had the move down. Then we had the guardly pattern up to the 61% retracement up there at $1560. Then we came down to $1485. That was 11 days down from high to high. The first one between the 19th of February and the 6th of March was equal to the high between the 20th of March and into April the 5th, which was 11 days down, which was pretty much spot-on. And we've gotten about $1520 today, taking out last week's highs, which is a very positive thing. Now, it hasn't run away to the upside, but at least it's completing that pattern and should have more of a rally. The last time we had 11 days down, the market rallied from $15 an ounce up to $1560. It rallied $3,000. If it's going to do that this time, it's going to take it up to around 1550, which would be an equal rally. So we're watching for repetition in these markets because they repeat over and over again, and they do so with the probability that it's predictable. And that's why pattern recognition is a very good way to look at the markets because it's putting numbers before anything else. And believe me, folks, I do not know anything about the fundamentals. I want to talk about that a little bit when we get back for the break because several of the emails that I got over the weekend were relating to the fundamentals on certain markets. And I really have to disassociate myself from fundamentals because my whole premise of these markets is it's in the chart. If it's going up, more buyers, if it's going down, more sellers, that's all you need to know. 877-927-6648. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. 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TFNN.com, educating investors. Call now. Toll free at 1-877-927-6648 internationally at 727-873-7618. Okay, folks, someone asked me if I had, you know, I've got 10 rules on this oil painting behind my office here, but what would be the one rule that I would always use, you know, to keep you from getting into trouble? And of course, you know, using stops, I think would be pretty good, but, you know, some people can trade without stops, which I do at certain times. When the market's really critical, I, you know, and especially if I'm over-leveraged, you know, I'll have my stops in there. But the one thing that I remember, back in my days at the Merc, when I first went back there in February of 1982, Barry Lind, who we had cleared all of our hogs and cattle through Lind and company, win Lind Waldock. And so I was very familiar with Jack Waldock, who was a retired hog farmer out of Ohio. And Barry, of course, I knew we were the same age, and Barry, you know, knew I was coming in from California and I was only going to be there for a short time. And he had me up in his office and he said, what can I do to make your stay here in Chicago fun and profitable? And I said, I'm not going to have any trouble with the fun part. I said, but the one thing you could do is if I have a losing position on my equity run on the morning of the third day, I would like to have your firm take me out so I don't even have to think about it. And he says, we can program that without any problem at all. And so over the next several years, when I was there, it happened four or five times. And each time, if I would have just reversed those trades, it would have been huge, huge wins. But unfortunately, I didn't do that, but it was a very good rule to have. Pattern recognition usually works right away. And by right away, I mean usually within a few bars. If you're doing daily bars, usually a daily bar. But if you're going to stay with something and you're in the loss after the fourth day or the fifth day, it's really devastating folks. And the reason why is it's not so much the money, it's the mental anguish that you have to go through when you try to second guess or rationalize your trade. Well, it was a really good sale at 303 and here it is at 306 and wow, here it is at 309. That's suicide because now you're starting to second guess yourself. And so it's better to just take yourself out of the market. One other thing that you really should do is if you ever do get one of those hated things that you happen to have once in a while and that is a margin call, don't liquidate the trades that are making money. Get rid of the trades that are losing money. Take care of your losers. The profits will take care of themselves. This is stuff right out of Jesse Livermore's book because it's all about risk control and the one thing that you should never do, never, never, never, never, never, and that is add to a losing position. It's just a suicide thing to do and the reason for it is the fact that you're not only adding to a losing position and increasing your risk exposure, but your analysis is flat out wrong. That's even more important. So remember, if it's a goodbye at six, it's a better buy at five, it's a better buy at four, and that goes back to the old questions from Jesse Livermore, goodbye house, goodbye boat, goodbye car, goodbye wife. So remember, it's a friendly hello and a goodbye, but you don't want to get messed up in that. Now we're rallying here in the crude oil. This is going to, here's a perfect example of what I'm talking about, folks. We're looking at a price here in crude at $63.95 and we're trading at $63.66. $63.95, as I posted just a little while ago when we were chatting with Mr. Z, that $63.95 is the 61% retracement exactly of that last high that we made. So we're going to find out if it's going to be right or not, but that's what we're watching. Hold on here, we might have a question calling in. You're still seeing the silver chart and that is because I'm talking about something totally different and I'll put the crude oil chart back up here so you'll be able to see it here. In fact, what I should do, yes, I'm going, oh, shut the front door and raise the rent. That didn't work out the way that I wanted. Hold on, boys and girls. Just give me a second here. I pressed the wrong button here. Hold on here. What I'm going to do here, you should be in July crude, I believe. Isn't that July is the trading at $63.60? It should be July, I think, but someone double-checked that for me because I can't pull that up right now, but which of the contracts is trading at $63.60? I think it's July, but, well, we'll take a look. All right, let's pull up here since we're talking about crude oil. I want to bring to your attention because crude follow, well, all these things follow Fibonacci number some of the time, but not all the time, but if we take a look here at the long-term weekly chart of crude, I'll get this up here, and you'll be able to see what I'm talking about when we were hitting that level up at 77. We'll get it up here so we can, there we go. We're going to be in good shape right here. Oh, my goodness. This is mother-godden country today, boys and girls. You don't get to see stuff like that. You can't make it up, that's for sure. All right, let's get this down here a little bit and there we go. Now I'm just going to get it up here so we can see it. This will be the weekly chart. It is June. Thank you very much, Marshall. If you'll notice here, we are, this is the June crude at 63. 63, we're within a heartbeat of that number. We're up one, two, three, four, five, six days in this run and the low we made, of course, was back a little bit farther and we'll see if that's going to mean anything. Mr. Z is asking if I re-bought the euros. I was going to this morning, Mr. Z, but I bought the gold instead and I was doing something else because I had a computer problem, but the euros are at a really critical level. The reason why is we went down and we went below that 1200 level and we got as low as 1185 and didn't go down and with that dollar index setting right at the 78% level, it looked like it had. I still think the euro's not out of the woods yet, but we're at a real critical level now in the euro as we come in here at 112.65. That's 80 pips up off the bottom, which is the harmonic number in the euro, so that'll be a real interesting one to talk. Now, we haven't had much of a big rally, but it stopped going down, so there's a big fight going on over in that euro, which is reflected in that US dollar index trading near that 97 level, and neither one of these is broken out in either direction for sure. That's a key thing to look at. When we get back from the next break, we'll take a look at some of these currencies because they are at a critical level, well, they should be because they've been here at the same level here for three or four weeks, so there's not much else going on there, so we'll watch it. But the key ones today, for my opinion, are the crude oil up here where we are right now and also another one is what's going to happen with the treasury bonds because I believe we've made a major top in those bonds at that 150 level. We're trading at 147 in change right now, and I believe that we've got a chance here for a little bit more of a rally, and then they're going to take a flying well into to the south side of the trading floor and go a lot lower. That's the way it looks like from this section, so we'll see. Okay, someone's saying you're showing Monday is a good way to start the week. Well, I should start it on Friday. Who knows? Okay, that'll be a double. Thank you, Mr. David. I appreciate all the stuff that you send me. It's really great information, and I certainly appreciate it. David White's got some great... Everybody at the TF&N. I mean, Tom's got some really, really smart people in this group here. I'm the last one down on the ladder, but boy, you've got Basil and Steve Rhodes and David White and Tom and Tommy. I mean, there's some really smart folks. All right, let's take a little break here. We'll get back. We'll talk a little bit more about the currencies. 877-927-6648. This will be up to the date active trading information that will help you in your daily trading. In Larry's first week alone, he sent out 25 charts, six videos, and a full report to his subscribers in just one week. If you're a technical trader that uses patterns and retracements to trade, then Larry's service Fibonacci 24.7 is something that you must try. Right now, new subscribers can get a full 30-day money-back guarantee. With nothing to worry about, Larry's first week alone, you'll get a full 30-day money-back guarantee. With nothing to risk, sign up now to Larry Pezzavento's Fibonacci 24.7 by visiting the front page of tfnn.com under Trading Newsletters. The path of least resistance is David White's daily trading newsletter, and if you're looking for active trading ideas, then now's a perfect time for a 30-day free trial to this powerful daily trading advisory service. 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For more information, just click the Think or Swim banner on the front page of tfnn.com. Okay, we're back folks, and we were chatting about the Euro here just one second, and I will update the chart, and then I want to see if I can get this updated. Wow, it did. Okay, there we go. Here's what we're looking at in the Euro. Give me a second, and I'll bring this up so you can take a look at it. We made that double bottom down there in the Euro, and you'll notice here where we are right now as we're completing this ABCD pattern that we've got. This is a four-hour chart, so this is over the last few days. You'll notice on Sunday night, we opened around 112.10. We rallied about 60 pips, and so that's going to be the first ABCD correction in this thing, and the 3.82 rally off of that low would take you in at 112.85. So I would be watching 112.85 in the Euro. That's 100 pips off the bottom, whether that's going to be the case or not. We'll have to wait and see. We've seen the dollar index over the past weeks. We know pretty much what it's doing. Well, we think we know what it's doing. We never really know for sure, but let's just look at this US dollar together because it's an interesting chart because of where we are technically, and this is what we were talking about with Mr. Z. Just a few minutes ago, you'll notice we were up against that 78% level again. That's the time that we've hit it, and we need to get that above that 97.20 area for a breakout, but we hit that and then we started to back off, and that tells us that we're just still in this trading range. When you look at that Euro, and it goes down to that 112.85 and doesn't break down any more than that, it just cleaned out the stops of the past two weeks, and then reversed, and then last night, you had that 61% retracement right on Sunday evening and away it went to the upside. Regarding the stock market, I put a video newsletter out this week because my Dragon software for voice recognition wouldn't work. I guess they've given up on me trying to break this Italian accent that I have, which I didn't think it was too bad, but maybe I'm wrong. We've got to buy a new Dragon and get it to work, so I had to do a video newsletter describing what we were seeing, and of course the key thing is to follow the stock indices, because on the longer-term basis, I mean, there's nothing there, but blue sky it looks like, but if you look at them over the past two or three weeks, there is a topping pattern there that appears to mean there might even be having a down day, but when you have made all the money in March, in April that you made in March, in other words, the stock market has already gained in the first five trading days of April, trading days of March. That's a really strong market, folks. Now, I know that's how tops are made and that's how bottoms are made, but what I do is I go down to the smaller timeframes, and usually it's a four-hour, and I can see if I can find some patterns there, and I found some patterns. There's a whole lot of, you know, A, B, C, D, three drive-to-a-top patterns in all of the stock indices. So that's all I was looking at. Whether it works or not, I don't know, but all I know is that the risk level, you know, are small. You don't have to worry about it. Okay, anyway, by the way, Mr. Z, they have a restaurant in Terre Haute, Indiana. It's called Cafe Bosco Pesavento. It's named after my father's oldest sister, Valerie, and Aunt Val. She passed away many, many years ago, and her grandson is the one that does it. My mother was very, very close to my Aunt Val, and when she passed away, my mom basically helped raise Barbara and her daughter, and then Barbara had Joey, who's the one that runs the restaurant. It's quite popular, I'm told. It's out of my price range, because all the wine is more than $5 a bottle, and they don't even serve wine in the box if you can believe that. I never heard of a restaurant that didn't serve wine in a box, but he's actually a very accomplished chef. It's down there on South 7th Street. It used to be Simrel's Italian pizzeria when I was there in the 40s and 50s, and that's where I learned how to dance was in that restaurant. It was a little pizza place when we had a jukebox and would listen to Elvis and Jerry Lee, and I learned to dance there. Anyway, and that was it. I never danced after that. Anyway, we'll take a look at some of these other things that we're watching, but the Bonds, folks, we've got a really interesting situation in the Bonds. You're going to find out whether they're bullish or not. I believe this week we had that 61% retracement up there, as you can see up at that 150-22. We broke down to 146-30, I believe we rallied up to 148-07, and I'm watching to see what's going to hold here. The 382 on the downside by about four or five pips, we went to the 50% level, but we've been down eight days, so the Bonds are due to rally, but if they don't rally, and if they don't, that's going to confirm that this is a major high, boys and girls, just like we're looking at in crude oil and a whole bunch of other stuff. If you believe in 618, and I certainly do, with all the patterns that are coming in there, that's it. Folks, remember, I don't want to repeat, but I am not a fundamentalist. I have not had a Wall Street Journal in my house. I haven't bought one in years, same with Barons, Financial Times, Investors' Business Daily, and I got those free for years because my daughter was dating, it was her first date, was with Bill O'Neill's son. They went to the same high school, so I used to get those newspapers for free. I just never read them. I remember the time I was here in Indiana, and he said, could you go out and get me a Wall Street Journal from one of the other professors? And I said, I didn't think you read those things. He said, no, I needed for the lining of my parent's cage. That's a true story. Anyway, let's move on to the next thing we want to look at here. I don't, you know, Mr. Z, I don't even look at the, he's asking a question about the racing news. No, I don't even do that, all I do is I watch the tote board. When I go to the track, I have three people that I've trained to be professional traders and professional gamblers. They all did the same thing, and their whole premise was follow the money. And if you stop and think, when you go to the racetrack, the racetrack takes 16 and 2 thirds percent right off the top of every bet you make. You know, people are losing, so what they do is they start to bet on the long shots to try to get their money back. Well, when people bet on the long shots, it means that the favorites in the race are underlays. In other words, they're paying a bigger price than they should. And so these fellows would look at the tote board to find out which would be the best value bet on that, and they made money consistently. And when I go to the track, that's one of the things that I look for. There's a little money at it, and it's really fun to do. And I had a couple of really big winners in January, and that makes that for the whole year. So we'll see what's going on here. Oh, there's the whole thing about the restaurant. Shut the front door. Very good. Thanks, Mr. Bill. That's really good. Yeah, that's the whole thing about the restaurant. That was from my Aunt Val. Anyway, let's... Oh, I get another funny story about that. I should tell that story. No, I better not. I'd get in trouble. I get in trouble all the time. I'll tell that story when we get back. I am going to tell it because it's about my Aunt Val, and oh, well, maybe I won't have the time to do it. I wouldn't tell the other stories about the racetrack stuff, so who knows. I got to have help here, boys and girls. You guys are not helping me here on this show. And I have to prepare about an hour to two hours to get this ready. When I come on here and I got to talk for an hour, that's not good for the old cowboy. You know, I need help. So, I need questions. I need call-ins. 877-927-6648. If you are in the CD market and looking for a secure investment, the Tiger First Mortgage Program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. The Tax Act of 2018 set up tax-free zones across the country where you can build and hold for 10 years and pay no tax on the profits, which makes these lots valuable. If you are anywhere from 30,000 to 75,000, the interest paid is 7% yearly paid on a monthly basis. 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We went from $19,800 down to $3,100. The ABCD structure in the long-term weekly came in at $3,800. We went below that and then since that time we've had higher bottoms, you know, ever since the beginning of December. So this is looking like we're getting ready. What you want to watch for now is the 382 retracement of this. So, hey, we've got Mr. Z on the line. Mr. Z, are you there? Yes, I am, sir. Taunting you in the Tiger's Den. I thought I would do so by voice on the phone line. Thanks for taking the call. Well, God bless you for calling in. What can I do for you? Very specific question, Larry, on the stock market, the S&P index and its futures, the June futures ESM-9. As you and Norm described last week, a full moon came on Friday and that is thus far high close. There's a new moon. There was a new moon on Friday. I'm sorry. I wrote that down incorrectly. There's the same. They're just turned around. That's all. Let's put it this way. It was a lunar cycle. So it was high close for the year and high close for this rally. So we could short against that with our eyes closed with tight stops, which I did, by the way. My question is, can you elaborate using your charts what level we need to break underneath to tell you the odds are very high. We have witnessed a change in trend rather than just another pullback and higher low that gives way to higher highs. Well, the only level that I could look at Mr. Z would be a retracement from those lows we made in late March. If I put this up here, we can take a quick look at it. That would come in roughly at around 28-20. If we get below 28-20, we're trading at 28-85 right now. 28-20, then I'd say, yeah, that's probably that 3-drive is in effect. But it's working a little bit right now and what I do on these is when they get a 10-point profit in your favor, I move the stop to break even and let her rip. That's really about all you can do. Right, and that's the idea. 28-20 is just I'm just guessing I don't have the chart working in front of me. It'd be a 61% retracement of that idea. Yeah, it's a little below the 78% level. That tells me that, yeah, it's corrected more than it should have. It's also, it would be bigger than the bigger correction that we had which was 30 handles. You see, that would be another thing. Yes, I see what you're referring to on the Tiger TV rights. Yeah, that's what I'd be watching. Very good. How does that... I know you had made a big deal with the code a couple of times in the past two weeks. Some cycle work coming from Bill Meridian and somebody else saying, statistically, the probabilities favor rallies into mid to late April. Is that way on your thinking at all? Yeah, well, it did during that time because from the 15th of March until the 15th of April, it had a very, very positive bias coming into the 15th of April here next Monday. We could be weaker on either side. Mr. Z, all I'm looking at Bill and John, all I'm looking at here, I'm just looking at the short-term trading patterns, all I'm looking at. No cycles or nothing. I just saw that there was symmetry there. The ABCD was correct. The 1.618 expansion was correct. I figured I didn't have to risk much last night because I sent out the video on it and just like I looked at the gold, it was a very low risk at $12.98. That's all I do. I look at those patterns and I frankly don't have any other comments in that. That's pretty much what I'm talking about. By the way, I've got Ditmer's book here. I'll be seeing you pretty soon and I'll be letting you take a look at it. I think you'll enjoy it, but a lot of history in it, I'll look forward to that. I wanted to follow up lastly and ask you to pull up the daily chart on the copper market. You know I've been trading this from the long side for a while now and the copper price has gone to, I'll round it off the $298 level. It's gone there four, if not five times now in the past months, maybe it's six weeks I forget. I'm just wondering, if we surpass that and we're under that now, we're $293 but if we surpass the $298 level is there a pattern that you're looking at that calls for significantly higher prices if we get over that level? Well the $298 happens to be the exact 61% retracement on the weekly chart and if we get above that then we certainly would be looking at higher prices but I think that the high that we made back in late 2017 at $333 is going to be it for quite a while. That was a double top and I don't think we're going to get any higher than $305 would be my guess and we've been rallying now for about 10 weeks and it's due for a correction so that's going to tell us where we are next I think. Excellent, I appreciate that input and I'll just share with you my view, I'm guessing if we get over $298 I'm frankly guessing we're going to get back up to that $335 high that we put in place last fall or last spring of 2018 I forget quite when but that's my guess for what it's worth It's a good guess because that's a lot of screen and you and I are just guessing that that is true and that certainly doesn't pay the bills Any time I'm worried about my guess I make something up I will stand by that Excellent, good Thanks for calling and I will look forward to seeing you on the East Coast soon We've got another caller I think from Florida, a dollar bill, are you there? I'm here Larry, how are you? I'm good, what can I do for you my friend? Larry, looking at gold on the March 25th it made a swing high of $1330 $1333 and this is on the daily track and so right now it appears to be heading back toward that level I don't see I don't see what resistance there is in between where we are now at $1305 and that $1330 but I'd like your comment on that and again that's on the daily chart What I'm looking at Bill is the 61% retracement from that high at $1321 that we made about 10 days ago that 61% retracement comes in at $1309 so far our retracement today was $1307.5 so if we can get above $1313 then we got a chance to make an ABCD up at $1328 but right now we had a little bounce coming in here because we were down 11 days that's all we're getting now is the bounce off that 11 day low okay thanks for calling in really appreciate the call Bill thank you I'm Steve Rhodes best at what I do sign up for Mastering Probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too sign up today if you haven't checked out the newsletters page of TFNN.com what are you waiting for all of the TFNN newsletters are informative up to date, affordable for every trader looking to gain a competitive informational edge in today's markets TFNN newsletters cover every aspect of the markets to offer you the very latest in market news plus new subscribers get to test drive our newsletters risk free for 30 days from all aspects of the markets including stocks, bonds, metals commodities and tech there's a newsletter to fit your needs exclusively from TFNN stay informed each day you trade and get the competitive edge that will help you stay ahead of the game visit our newsletters page by going to TFNN.com and click the newsletters button near the top of the page TFNN.com educating investors since 1984 Basil Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls thus was born the Chapman Wave sequence using the Chapman Wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com cancel at any time during that trial and pay absolutely nothing get your two week free trial to Basil's newsletter the opening call today by visiting TFNN.com okay we're back folks and the crude oil did hit that number we were looking at 63.85 it hit 63.87 I don't know if it's going to be higher now but that's a 61% retracement do with it what you like but very important number to look at for sure I don't have any guests this week so hopefully we'll get some call-ins and get some good questions I'm hoping to have Stan Harley on Wednesday and maybe on Friday we could get Rich Anderson to kick in and possibly Symonly but Sy is extremely busy his company was bought out by Farm Bureau so he's he's got to work for them for a couple years and then he's going to go back into private life by chat with him every day he's just got these he's like a one-armed paper hanger he's really busy okay let's remember folks that we have these short-term patterns here in the stock market that we looked at in the newsletter this week these were short-term they're based on over a four or five week period question about coffee cocoa and sugar sugar looks pretty good Ruby coffee it's got a hold the 61 70 excuse me 91 75 level that's where we bought it it ran up to 95 I just put the stop at break even haven't even looked at it don't know where it is don't really care but I don't like to see it go down when you're long but I haven't had a coffee trade for 45 years so that's my first one so that's it the cotton looks really good it's looking and cocoa's gone nuts you know we were looking at cocoa and that was really a strong one that was one that really exploded to the upside and we probably should end the show on a really positive note showing you what that cocoa did because it really took off which was a heck of a heck of a move went from 21 50 it's up three handles which is that's three large so that's a pretty good one but we're watching the sugar it's still holding okay the $64 question is whether the cotton's going to hold up excuse me the coffee the old Joe anyway we're going to be here tomorrow at the same time at the offices of 100 South Broad Street Duke and Duke so live every day in an attitude of gratitude and may God bless