 Traders sign up today and become a part of this educational community of traders. Just visit the front page of tfnn.com 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 727-873-7618 Now Larry Pezzavento Okay, looking good. Billy Ray feeling good. Lewis. I posted a chart here In honor of our good friend Jeff over there in New Jersey That he said that he thought the wheat was going to get down a little bit lower than what we thought it was going to be Which was 611 it did get very close to his exact price within two pennies and cost It had a rally today that scared even the most staunch short it rallied 34 cents in a matter of about an hour In the wheat. So that's nothing more than a short covering rally, but it shows Sometimes the abcd patterns work I'd like to bring to your attention something that happened when I was in las vegas last wednesday giving the show and I wanted to bring this up because Um, I had a very nice crowd. I mean people seemed they were very interested. They Uh, well, I guess they gave me a standing ovation because they were just happy to get up But uh, you'll notice here that I was pointing out that we were having this Three drive to a top pattern that was going to be happening here And I was saying, you know to sell it at, uh, you know, 170 88 now today Uh, it hit 170 91 and then of course it's dropped two dollars a share since that time and one of the folks that was at the Meeting was kind enough to, uh, drop me a little note saying, well, you missed that one because it went to 170 91 And I said, you're right. I missed it by three cents. I said before this stuff doesn't work all the time So I under hope you understand When you have something like that, I don't know what else to say So I tried to actually just, uh, do the best I could To see what's uh, to see what's going to see what's going on with the thing But I I thought it was relatively funny. Also, I want to follow through with our friend steve over in the Austin texas because he's been watching the we'll get to the stocks in just a minute folks And we'll get this up here. You'll be able to see it. This is the uh, we were supposed to have some strong support here At the uh, 618 and as you can see, you know, it didn't go down very much at all. In fact, it stopped very very, uh Minorly here for maybe Oh half an hour and then of course it went a little bit lower. Remember, we don't have a really good abcd pattern in here at all However, I want to show you one that was it's really important folks because when you have trades I'm going to get this up here and show you this is where we are with the crude oil. Let me get this up here Okay, hold on one second and we'll get the crude oil up because this is very important about losing trades Because those are the ones that save you the money folks. Honest to god, they really do It's not how much money you make it's how much money you don't lose Here was a trade where we had the perfect abcd there at 71 68 and I said folks if you can't do this trade you can't do any of them and the reason why is You had a beautiful ab this a daily chart abcd coming in Right there at 71 68 now you saw what happened here, but that's not what really happened Well, that's what happened But let me show you the sequence of events because I I made a special video on this because it was that important now here is the situation that we have going now And some people were able to take advantage of that You'll see there's where we are There is the 71 68 folks. This is an hourly chart Folks for 10 hours last night 10 hours it stayed in this level right here Now that's telling you one or two things It's either accumulation Or distribution and once you went below this level right here That my friends Was distribution and boom Down we came and that's when we were heading for the 78 percent level which came in at 68 48 now if it's distance here from there to there is $3,000 and your risk on that would have been about 40 cents Or $400. Okay, so it got down to the 78 percent level went about 50 points below it And then it's I had a little bit of a rally, but it's just bouncing off that level right now But we have come down in the past I think eight or nine trading days were down about $10 a barrel or no wait 83 Yeah, we're doing about $14 a barrel in oil So you would think that we're going to start seeing something in the pumps to tell us that yeah Maybe it's going to be a little bit better. If you have any questions folks. It's 8 7 7 9 2 7 6 6 4 8 now I can't Well, let me do one other one here that we were watching here today. So hold on Oh dear, where is it my euro trade? Shut the front door and raise the rent just give me a second here because we are at a very very important level here Those of you that get the videos It's such an important thing that we've got going on here In the euro that I'll try to cover it in the second half of the show today From the 2 to 330 level, but there's the weekly chart here In the euro right up here at this level now When you look at this this a weekly chart But if you would have break this down and that's what i'm going to do in the second half of the show With the 2 to 3 p.m show today I want to break this down and show you the real value Of technical analysis. I know some of you already know the value of it But I try to do this to the folks that were in You know the las vegas show but frankly a lot of people just don't want to do the work And there's nothing you can do about that. You know, I they liked whatever they like to do moving averages Stochastics and that's okay, too because there's a lot of different ways to skin a cat But when you see what happened in this section right here, this was the 382 retracement right here There was the three drive to a bottom right there There's a 382 retracement right here and this is where we came to Last night and uh, I want to show you What that is but i'm going to do it on the second half of the show Hopefully we're going to have stan harley as our guests coming in at that time And I want to be able to share that Also With them and we're also looking at the the gold market here today Because uh, we uh exceeded let's just get this Oh, dear. I I this is not updated So I don't even want to show it. This is because we're up a little bit More than I this was from two days ago. So that's an interday interday chart. However The silver chart is still up to date and it has not taken out these highs And that's a sign of a tiny bit of weakness so far because with the federal reserve coming in here In in about an hour, you know All bets are off and you know, I'll be doing both shows So we'll be able to see some of the wild swings that we see going on especially the ones In the euro and in the gold because those are the ones that uh, Give me the very best of what we can see you can notice here on the silver We had this beautiful abcd buy down in here That's of course when the gold was down around 1818 and we had to help her run from there But anyway, we're going to be taking a break here 8 7 7 9 2 7 6 6 4 8 and we'll be back after words from our sponsors 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 rhodes 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 rhodes 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 mastering probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon sign up for steve's market newsletter Mastering probability and you'll receive access to seven of steve's educational webinars Absolutely free at tfnn all our newsletters come with a 30 day money-back guarantee So you have absolutely nothing to worry about visit tfnn.com and try mastering probability 30 days risk-free today tfnn 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 market's 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 Free at 1-877-927-6648 internationally at 727-873-7618 Okay, folks. This is a Trading situation not for the faint of heart. This is an hourly chart on gold. I want you to notice here This was the 61% retracement here at 2029 And I was talking when I put the video out today I said, you know, if it breaks above here You can be a buyer and you're you're a first objective Of course be here, but with the fed coming in I think you could probably get to 2045 Which was the 78% level from way back there at 2065, which was also A 78 level. So if you did this on a longer term basis, which I haven't done today That would be a one Three draw one three five pattern coming in. I'm going to When the next break comes up or the next hour I'll update this on the daily to see if I'm right on that But your risk here is is Virtually nothing now because you've got about a three dollar and you're coming into the fed time and believe me Three dollars is nothing. So you put your stop at your break even point Which would be at 2029 and your profit objective would be up there at 2040 2045 2043 And since you have that much money made what you want to do is you want to sell it short there And risk some of that 30 dollars that you'd made maybe risk 10 dollars and put a stop at 2055 Now that's very aggressive trading But gold acts sometimes in a very aggressive manner as you can see some of these abcd patterns that are in here And there was this was a really nice trade right here, but it didn't last very long Backed off about six dollars. You put your stop at break even and then away it goes to the upside So this is one that we want to be watching the other one that's really important and not many people pay a lot of attention to it Fortunately john jameson who writes the letter for us? he does and the difference between the Do you the the 30 that's the six month note? The six month t excuse me the six month t bill and the 30-year treasury bond has reached levels That have never been seen in the history of interest rates in other words The people are buying short term rate to protect themselves for some reason Whatever that reason is more than they ever have against the 30-year treasury bond I know there's a lot of news in the market about china and the bonds and all that other stuff folks That's why i'm a technician because that stuff is cannon fodder It doesn't mean a diddly squat to me because I don't understand Well, I understand what it is, but I don't know if it's true or not The only true thing that I know is that if prices go up there's more buyers and if prices are going down There's more sellers and I know that The abcd patterns work about 55 60 of the time and fibonacci works about 55 60 of the time You had a boat together and you got a little bit of an edge against these folks that have the big edge of insider information And if you think they don't use that inside information stop and think why did two fed reserve members? Had to resign unexpectedly In the past year or so because of trading all the information if you could believe anything like that Billy ray valentine certainly doesn't but I'll bet you other people believe That maybe they do something like that and you bet your sweet bippy that they do Anyway, let's pay close attention to that and we'll see what's going to happen I want to show you a little update of that chart because It's not something that I would be Doing all I would be doing it on air of course, but I wouldn't be doing it on an overnight trade But here's what I'm saying here You can see the 61 percent retracement and then when it popped above it in the state of it It hasn't really gone much above the The 36 levels so all you do now is you have your stop setting at 29 20 29 When the fed will be acting here at about 50 minutes and there was your price objective up here And you'll you'll actually go short there with a buy stop above this folks. Don't do this This is not this is for someone that's watching it and can control it and the best you can My control is I've got a stop setting at 20 29 right now. So Basically break even I got a shot at something like this if it happens fine If not the good part is I'll be doing the show the second half of the day So we're going to see some rock and roll action now. We've been long notes Excuse me. We're long bonds here for the last three days ever since the 129 20 level. They're up three handles And you know, they look tremendously bullish right now compared to to what they look like, you know When we came in here, you know early in the week because it had a you know, relatively big sell-off And we were able to to buy that sell-off and we're still expecting the bond market to Get up to a much lever higher level on a special. You'll notice this is the longer-term Chart here to see that we are at the this is a longer-term daily But we're looking for a price objective up around that 138 level now We were able to buy this level right here when we made that 382 retracement here on Tuesday. That's when we had the perfect abcd at the 29 20 low was 129 18 Two ticks and then and we're up three three full handles on that And what we're doing now is put the fret in there We've raised our stop to lock in a $2,000 profit on that because if something happens crazy, which it can I don't want to give any of that. We'll have to give some of it back But at least you put a stop in to protect a $2,000 profit If that incurs now, we're also short stocks from Monday As you know, we've talked about that several times when we got up to that 4206 level where we had an abcd pattern and a whole bunch of other stuff with it Market's actually coming back pretty good. We're down Tuesday And in the middle of Tuesday, we start rallying and we've been rallying all day Wednesday Coming in to fed time. I My personal opinion is I don't believe we're going to take out that 40 40 206 But if we do we should not get any higher than 42 20 at the at the outside But boy the fed can do anything they want to And if you try to out guess them just turn on cb and cnbc Or bloomberg and listen all the different opinions that are out there Remember folks opinions are like armpits everybody has one and it usually smells so pay Close attention to what the charts are doing That's where the bottom line will be and that's what you want to be seeing to look at So the the main thing I wanted to show you that buy here Well, we're way above this level. Yeah, we're up there pretty close to it right now Let's just get this one right here in the treasury bond to show you what we were looking at here because this is nothing more than a really nice There was our pullback here and there's the level that we're looking at up in here Uh, we're in fact, I think we're there right now or from i'm not mistaken I well it can't be because the beepers never went off But we got to be getting close to that level Very very soon. I would believe I haven't checked the price of the bonds here recently, but uh See one 132 now there at 132 20 and that was the high and we're one they backed off They backed off about 15 or 20 picks but 133 would be the area where we would be wanting to uh Take our take our profits Uh in that trade if the Federal Reserve comes in and was kind enough to get us up into this uh to this area Right here. So we're going to take a break here. Hopefully we're going to have stan harley as our guests coming up If not, I've got some things I wanted to share with you just from the psychology part of you know, what I do and how I try to Uh, you know prepare a trade and make it so that you folks can try to make a buck or two eight seven seven nine two seven six six four eight The gold report As a precious metal gold is still king It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market The us futures market and the shanghai gold exchange the gold report tom obrien publishes his weekly gold report every monday morning for subscribers Consisting of coverage of the xa u hui gdx the dollar bonds the south african rand As well as 25 different mining equities with specific buy sell recommendations The gold report New subscribers get a 30 day money back guarantee. So you have nothing to risk Subscribe to tom obrien's gold report newsletter now at tfnn.com Everything in the universe is governed by the fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the fibonacci 24 seven newsletter at tfnn.com When you subscribe You'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis After all, he's got 45 years experience as a day trader larry will also provide daily charts videos And data on the key markets that he's tracking expect notifications from larry on market movement You need to act on at any time first time subscribers also get a 30 day money back guarantee If you're not satisfied let us know and you'll get a full refund within 30 days of signing up Subscribe to the fibonacci 24 seven newsletter today tfnn.com educating investors Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts at tfnn You'll get advice and guidance from the authority and technical market analysis And it's not just dry 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 thinkorswim For more information just click the thinkorswim banner on the front page of tfnn.com Good morning to stan harley of the harley stock market letter stan. How are you doing today? Good afternoon larry. I'm doing just awesome. I forget I forget the sun goes down in the west I I knew there was something about geography. I had trouble with How are you doing my friend? Just doing awesome. Thank you larry doing awesome Okay, your first chart here is a long-term puppy, but what are you looking at here in stocks? All right. Let's uh, take take a look at things here. Shall we shall we? Yep. Um, this is a uh The first chart I have is the s and p 500 and What I want to kind of just back up and look at the big picture of things here larry for just a few moments um the The chart I have here is a an s and p chart starting from the early 1960s And are you seeing it on the screen by the way? It's perfect. Yes. It's coming in as clear as a bell The sound is great. It's almost like a real radio and tv Well, there you go What I have done here is I've shown the s and p from uh 1962 through about 1999 And what happened back then larry was we tend to get important washout lows about Every four years and oh boy this shifted a little bit My arrows at my purple lines moved a little bit between when I placed them and I must have bumped my mouse, but anyway, you'll get the point The the purple lines are supposed to mark the lows Which occurred in 62 66 70 74 78 82 87 90 94 and 98 and so on Every 49.2 months there's some fibonacci math that goes into that That I've uh that I've unraveled Analysts back in the day used to call this a so-called four-year cycle And it was four years in one month, but that was a very regular heartbeat in the stock market But then something very interesting occurred following the october 1998 low that same cycle Many things disappeared. Well, it didn't disappear. It expanded by fibonacci 1.618. That's all it did So instead of 49.2 months, it's now 79.6 you could round it to 80 for ease of use. Let's call the 80 month cycle 84 months would be exactly seven years Some people have recognized this they call it the seven-year cycle. It's the exact same cycle But it is now expanded by a fibonacci 1.618 And uh that marked the low of course in 2022 Again in october 2002, which we'll go into again here in just a moment march of 09 Feb of 16 and october of last year and uh the analysis suggests should the pattern continue That uh may june of uh 2029 near the tail end of this decade We should see the next low point in this series, but it's all the same cycle Um, wow and and I just I thought that this would be a good point to start So knowing that Where we were and knowing where we're likely to go can help us a lot Do note, please All of the cycles up until now have been characterized by right translation That is that is the crest or the high point Occurred well to the right of the midpoint of the cycle So as you can see The high that occurred in january 2022 Occurred well to the right of the midpoint between feb 16 and october 2022 Now what I think is likely to occur going forward because I think that high was a very significant high A 94 year cycle high to be exact I think we're going to get left translation as we go forward So what does that mean? That means the crest of the 79.6 80 month cycle call it seven year cycle that we're in right now should see the crest or the high point Occur not to the right of the middle, but to the left of the middle Um, and I'll be watching for that very very carefully Wow Uh, let's shrink the in this the analysis down from monthly to weekly Uh, this is a chart I've shared with you on the air here many times This is the dominant weekly cycle Which typically spans about 34 weeks That cycle expands and contracts by fibonacci 0.618 1.618 But if we were to plot all of them on a graph look at a histogram You would find that the peak of the histogram occurs right at 34 weeks eight months Those two numbers are uncle fib. So uh, no surprise there Uh the More recent low in this cycle occurred coincident with that 80 month cycle low that is back in october of last year Um on the air with you here up until Today I've been suggesting the next low point in that cycle would occur in mid june Uh, larry I no longer think so. I think the low occurred, uh with the march lows We saw about uh five six weeks ago And I've got some reasoning behind that Okay Okay, there was what there's what I wanted to ask you go ahead Um, let's shrink the analysis down to the daily chart. Here is a a daily chart of the dow that I ran off Just a little over an hour ago This is the dow industrials going back to july of 2020 21 right through uh shortly before noon today eastern time and uh What I've drawn here with a purple line is I have drawn a down trending Uh line from the november 8 2021 high and as you can see that has been the governing line in the sky if you will For uh the market as measured by the dow industrials Uh One time we broke above it a couple of times. We've been a little bit below it But for the most part we've kind of danced along this line And we're uh, we're basically nudging it right now as you and I speak So until uh Until spoken otherwise This is the governing structure And uh, it's containing the market right now Stan do you take any significance in the fact that the russell Is so so weak compared to the rest of the market. I mean my goodness. It's in a I mean it can't rally at all. I mean, uh, do you look at that at all? Um, I do. Um I look I look at the russell but more importantly I look at what I call the big five and for me the big five of the dow industrials like we have on the screen here The s and p 500 the dow transports The nasdaq comp and the new york comp And to a lesser extent I look at the russell. So I guess you could say big six But for me the the big five are the most important important uh Market barometers and I want to study those very carefully to look for signs of either confirmation Or non confirmation in a measured move up or a measured move down and that will give me some Feel as to whether or not the the trend is diverging or confirming Uh, and yes, the russell a lesser component of that of that big five grouping But uh, yes, it's lagging effect is something I certainly Have in the back of my mind Okay, that's great. We're gonna have to take a break here and pay a few bills here pretty quickly I believe let me double check the old uh, but we've got another 45 seconds. So we have a uh a question from someone I'm not sure whether you follow the banking index But the question was do you follow that banking index and is it meaningful? The uh the kbw and there are several there are several banking indices Absolutely, they've literally fallen out of bed here And uh, yeah, that that's part and parcel of My reasoning that the high from last year is going to stand and I can hear we got a commercial coming up. Yeah, we do So we've got some more charts. We'll go into after the break. All right. Thank you very much We'll be reckless stand hardly the Harley stock market letter folks. We'll be right back You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices Selective stocks and commodities subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basil Chapman creator of the trading methodology known as the Chapman wave The Chapman wave up down sequence gives you an edge in identifying price turns Finding the peaks and valleys 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 market's 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 direction investments.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 eight six six four seven six seven five two three The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services llc This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Okay, folks are back with stan harley the harley stock market letter and we're ready for the next one What i've done here is kind of resurrected a a chart from the vault um This is from 20 years ago, and I had run this off Some time ago and kind of stuffed it in my files, but I pulled it back out recently Start studying it and something very interesting just popped up in front of my eyes Uh here here is the chart of the s and p 500 from uh Oops, I'll get it right in a moment. There we go from the middle of 2001 until late 2003 and I'd like you to just take a look at that and kind of focus on the patterns of ups and downs We had a low uh september 21 2001 finding following the 9 11 uh event And then we rallied back up into uh The early part of 2002 And then made a low in late february Another low in july and a final low on october the 10th of that year Then we rallied up into early december came back down made a another low in mid march And from that point we powered higher The october low back then and the march lows were all part and parcel of that 34 week cycle that i've talked about although it contracted to 21 weeks tibanachi 21 weeks But point being the market went up from there Well, let's fast forward in time 20 years And kind of see what happens here This is the current timeframe 20 21 through the present and I ran this off About noontime uh eastern time today and Look at the similarities Over on the left We made a low Actually bases the october October the fourth bases the s&p. They had the dial actually bottomed around september 20th 20 years almost to the day from 2001 Made a january high like 20 years prior made a february low like 20 years prior Made a june july low like 20 years prior A low in october this time on the 13th as compared to the 10th Made a mid march low Okay, just to make it easy let's put them both on the same page And what i've done here is i've laid the Time period from 20 years ago and the present chart Right on top of each other and with purple vertical lines I have lined up the lows And look at that. It's Almost to the day 20 years ago the pattern. I want to cover a short hold And that that is that's pretty much awesome my goodness. Yes. Yeah now I know juxtapositioning These patterns work until they don't Yeah, so While you know on may the third 2023 you and I can showcase this What usually happens is may the fourth it stops working Yeah, well sink of the miles coming up too. You don't want to forget that that's on trity. So yeah only because i'm showing Only because i'm showing it with you on the air here I'm sure this has never happened to you Oh, no Not today. Yeah in fact it already has it did happen today It's okay But the takeaway is this if the if if in italics bold If the pattern continues Then we we should be looking for a rising market for the balance of this year just like 20 years ago Um, and I actually think that's what's going to happen. Um, so, uh, we shall see as they say I heard you uh, that's an awesome chart talking about. I'm sorry. Go ahead, please That is a flat-out awesome chart. You know how you've been doing this with me for a long time and that is probably the clearest Description of a cycle that I've ever seen stand unless the god how you've overlaid it like that. I mean my god there It's like a it's like a switch watch for heaven's sakes. It's it's a virtue You're right. It's almost a xerox copy within the day or two uncanny Uh, and but these things work until they don't work Yeah, right now it's working Um shorter term time frame Um, this is the I've shown the the 34 week eight month cycle which contracts and expands Usually by Fibonacci 0.618 to 1.618. So that would say that would mean 21 weeks to 55 weeks Um, this last one I now believe uh contracted to 21 weeks and from this point we're heading higher Why do I think we're heading higher? For for a number of reasons Number one the pattern overlay with 20 years ago, and if that's all I had to go on that wouldn't be enough But what we have seen here is evidence of right translation in the current trading cycle and right translation right now conveys Uh higher prices down the road Wow, very very very very spectacular and then The last cycle I've got here on the stock market is averaging About 49 to 50 trading days. There's some Fibonacci math that goes into this it expands and contracts Um, the last couple of iterations have been a 1.00 iteration The two prior ones were a 1.618 Fibonacci expansion And the two prior to that were a 2.00 expansion, but it's all part and parcel of the same Uh Fibonacci rhythm And assuming the pattern continues with the 1.00 iteration as I have shown It would point to a low in the vicinity of May 22nd May 23rd plus or minus um and If we made a high a couple of days ago why 34 over 50 is uh Well to the right at midpoint Burgo right translation Meaning prices are likely to head higher from here. So near term. I'm looking for some consolidation. We're going to have a little uh A little jockeying, of course with today's Fed announcement within the next few minutes um But by and large, uh, I think uh Later this year. I think prices are going to be higher Not not new highs for the major indices, but higher nonetheless. That's that's what I'm looking for Wow, this is really good. Listen, you're going to be on in the second half of the next hour, correct? I am. Yes. Yes, sir. I and my friend I really I tell you I of course, we've been friends for a long time But that chart you showed me just beforehand that uh, my eyes popped out of my head And that doesn't happen to me very much because I thought I'd seen everything but that was an awesome correlation stand That is, uh, that's something to really pay attention to It is indeed. I I've not seen a match that close uh and a long time and particularly Over that wide of a time frame Wow, awesome. We want to talk about more more about that when we get back to the uh On the second half of the show by the way, some friends of ours were over at the cmt meeting in New york this past weekend when the Mets were playing and larry williams was there and several people came up To mention you and peter elides and larry williams and stuff. So it was uh, nice to hear some of us old timers are still around Hey, listen, thanks for joining us, buddy. We'll see you in about the 50 minutes. Okay No, 40 minutes 40 minutes. Thanks a lot stan My pleasure You bet stan harley the harley stock market letter folks and uh, we're going to have him on again at the second break Which is always a lot of fun But uh, we need to pay really close attention to that one chart that he posted because The correlation is something like that 20 years apart really mean something. So we're going to take a break eight seven seven nine two seven six six four eight 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 technicals Sign up for rocket equities and options report today with a 30-day money back guarantee So you have nothing to risk for all the details and to start your subscription today. Visit the front page of tfnn.com tfnn educating investors You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball. After all it's impossible to predict the future, right? 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Just visit the front page of tfnn.com Don't forget you can listen to tfnn live on your mobile device 24 hours per day Go to tfnn.com then hit watch tiger tv That's tfnn.com then hit watch tiger tv Okay, folks I was sure had enjoyed having stand on the line and he was saying about the fact that this thing looks pretty good But it does fail. I just want to show you what I this was a trade that I had done for the folks in um Las Vegas because uh, there were there were a few commodity traders in there, but everybody knew what wheat was of course Anyway, I wanted to show them the abcd pattern there and before we were buying wheat And how much we were risking and stuff like that. And so I was risking basically 10 cents And of course, so you can see here. It's it's gone up. It's made about 30 cents so far today So the the profit objective I had been reached And everything but in the middle of the night last night when I was doing the update on this And the market was setting right around here. I said if this thing gets below 604 it's probably going to go down to 601 And I guess what The low is 603 and three quarters and then it took off to the upside Now most people had their stops there at 599. So it was it was not a problem, but said person whom speaking right now Made a silly mistake putting his Stop in here and the part of the reason was that that well, that doesn't make any difference I was following the currencies and the bond so much that it's really really interesting Now we're going to get a really rock and roll Report here coming up with the dude the main dude. Mr. Powell is going to be talking here So we're going to have some fun with really live stuff And then we're going to have stand on in the second half of the show We've got to look at that That chart that he did on that 20 year cycle comparison folks because these markets are one thing Do we absolutely know 100 percent for sure these puppies repeat and repeat and repeat? And we we certainly want to see you know how that does work out when we Start to look at some of these other things that we're paying attention to so We'll be right back with the mid-afternoon update and then we'll listen to chairman Powell