 The following is a presentation of TFNN the Tiger technician hour with your host Hazel Chapman call now toll-free at 1-877-927-6648 Good morning everyone, Hazel Chapman on this Monday the 4th of the 3rd of April and we're looking at the Dow up 304 points but look at this sounds a little e-mini the one-minute chart some people said they liked they'd like me to articulate my technical indicators a little bit more during the show so look here's a long rectangle formation stuck between about eight o'clock last night at about the 41 33 level to a low of about 41 29 28 and it just stayed there with the peak ABCDE it even went to that E just above that resist and then what happens is if there's a pullback and it cuts halfway into the I need to draw this over I didn't want to make it too messy but I'll do this right now halfway into the rectangle formation and takes that out there's a real good chance it could go all the way to the bottom and even take that out no it held that beautifully and then at about 9 30 this morning it just took off and we went from the 41 30 level and all the way to the 41 let's see the high was 52 point I think 50 25 and it started to pull back I do have this as a peak e but in the 10-minute chart and this is going to be really fascinating in the 10-minute chart there's a wider rectangle goes longer than that it goes all the way to the beginning of April that's on Friday there's that rectangle we went above it and because we've gone above it it makes it whole area 41 40 very near term important support but over the period of the day if there is a slide below 41 23 then what's that 40 41 16 200 period exponential moving average now why do I say that because I'm not complaining we are along the Dow and aggressively along the Dow I should say and within that context it was a little bit of a surprise to me because I did have a signal on Friday that I mentioned to subscribers that the the jet wave ching gauge was very high and that says we should get a sharp ready in the S&P futures which had helped the general market but at the same time that extension to the upside on Friday that last-hour move almost always and this is a powerful gap up move the next session usually we fill in about 20 to even 50% of that last hour's gain well we did that a little bit in the S&P overnight but we didn't do it in the Dow down hold very well and one the reasons is I think that we've rotated back to where the Dow is now the lead dog the dog the DOG is the one-to-one short I shouldn't mention that in the same breath but it's the it's the leader because of the the unusual mix of the Dow 30 and now you're starting to see a little bit of leadership back again into the Dow and it's rotated from the QQQ and I'll show you the QQQ right now they are the QQQ is down $1.74 319.19 in a leg see it should make a peak deep because in the jar I should show that all right let me just do that here for those of you new to mark where cancel whoops and you made a mistake there okay here we go in the channeling methodology we're always looking for the identify the lowest low bar and yes I do chapwave notation trough a trough B on the way down the core troughs but I really look at the technicals and other indicators for the the low on the upside I'm absolutely faithful to the PDE and F&G that we look at but in the meantime what we look for is a starting point count each successively higher high alphabetize them sequentially with higher with the uppercase on the way up ABCD that's four higher peaks but it can still go five six seven higher peaks after that EF and G there's never an H so at D other things can happen what you want to see is a buy signal upgraded to a buy mode and the implication of the chapwave is that that symbol that you're following should only thing that doesn't do it is the VIX index it doesn't periodically but that's not the methodology that applies there because it's a sentiment gauge what you're looking at is in the every other symbol if you get to a peak B there's a good and the technicals are so strong and it gets upgraded from a buy signal to a buy mode you should get to D what's the implication here well the implication is like this aware right there take it out okay the implication is that within the context of oops I just didn't do that correctly I do this okay yeah within the the implication is that within the context of this symbol that you're following if it's gone to a leg C pulls back there should be another squeak to it doesn't session says squeak but there should be another move up to a leg D at D other things can happen your objective is to get to D then we use other chapwave methodology well QQQ is a leg C if it goes above Friday's high of 320 2117 goes to point 18 that's that extends today's leg C if it's tomorrow the next day it goes to a leg D here we go S&P now it's going to be very interesting so the S&P is up point two two percent dows up point nine six percent and the QQQ is down about 13 how much is that QQQ is down point oh four percent so now what we're looking at is the S&P has already gone to a leg D but look how nicely the weekly chart is starting to form so I did this for my subscribers to open the call every weekend occasionally I'm away and I just cannot do it like last weekend what I did is I wonder if I got the chart right yeah I do okay I've got the chart right here because I was out of town and I wasn't able I I'm setting up so that I'll be able to do it I haven't been able to do it up until now because I need to go put it on another computer so I can do my video my hour long video over the weekend for the overview but I did send this out I said I've got to send this out even though I just really don't have time but I'm gonna do it so I said in the chapter wave this is called the dark news cloud cover I look at internal lows and residual lows I look at internal high and residual high and what does it mean it's like an earthquake that has an aftershock well we identify correctly the internal loan than the residual low earlier in December then we got the this whole area I said it's just this is a huge topping area be careful and we saw a big pullback and then I said I'm calling this in early March I'm calling this an internal low there was a rally just above the 14 period moving averages the daily Dow chart and then a retest and we went to a residual low and I said I believe this is a residual and we've been buying the Dow the the U Dow three times long Dow from the from the low and we just we keep buying it and now we it's at really good gain but at the same time the idea was that I think and we won't know for sure until we look back in a couple of weeks time that I think we made an internal low and a residual low and now let's go to the real thing in real time is move that away this is it today this is the very same chart except I'm going to do this going to expand it like that and show you there it is that's where I identified it and look where we are we're going back to the midpoint of the long sideways channel and remember my rule of thumb for the two channels the large rectangle formation press one and the long narrow one says if you break that point I was showing you that at the immediate moment to go be careful because you could take out the lower the rectangle and we did now we're going right back to that friend I'll be back in about 240 very nice 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 dot com 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 markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at TFNN dot com TFNN educating investors everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take 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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 dot com 3 at 1-877-927-6648 internationally at 727-873-7618 Hi folks we're back so we're looking at axon mobile up six at 150.70 why i thought wait aren't the Saudis our friends i didn't they just cut production by was it 30 or 40 or 50 percent well crude oil is up 4.74 at 80.40 right on the 200 period moving out my analysis when i first heard it this morning and i said oh should i quickly have subscribers grab some of the oil service stocks and then i said wait wait you can't just do that on news you need some follow-through so what i want you to see is does crude oil is this a breakout well it's not a breakout because it's back in the channel remember i drew these rectangles here i said this is the distance from the high that was made the week of the 11th of November of 91 something no 93 87 and i said it could go down to the the base that was made that was the ninth the week of the 9th of December at 70.80 then we bounce and what i like to do is in the rectangle take the top part and make it like a propeller shaft to say well we could go down and i said my thinking is that and at the time we were in the 71 area or so and i said i think we can go down to the 64 to 62 area maybe even 16 i drew in this rectangle right here so this rectangle says from that high that was made that's the high around about on the second week a second of December it was at 84.06 we can go down and a measured move would take you down to the 60 62 level well we went down to 64 64 32 in the continuous contract and now we've bounced but we only back in the rectangle this propeller shaft particular pattern very often says if you have the propeller blade that's the upside there and then the the fulcrum for the propeller shaft and then you got the blade on the downside i'm just making it as simple as possible and then there's a not a break down lower but you go back into the rectangle have a look to see if there was an h pattern what's the h pattern in the chaplain wave we often look at oh did i lose that no i've got it right here uh i look at three core now where did that go three core formations oh there it is and it's a straight line it's a straight line up here we go the straight line up straight line down that's one cup formation or a v shape formation going from one point down then back to that point or it's red because that's green because if it takes out that left side height it can be very good and on the downside it's an arch a red arch because if you take out or inverted v if you take out the left side low you can go a lot lower that's why we call this the dreaded h well look on the left side you had your h pattern that held beautifully it went to uh had another h so it's another arch so it's an h that goes to an m formation then it decisively took out the left side low and they gives you a one-to-one to the downside so we've got that and now you've got your straight line up now i'm thinking there's a chance that we make some kind of a rectangle formation because this is a very very emotional uh a price point that we're looking at why because you've already accomplished this pattern with the breakdown are you now going to form some kind of an h pattern that takes out the upside the in other words a y reverse y which is the exact opposite of the one to the downside well the way i look at this look at this is it's it's really important information it says that we're being that the market uh positives that we've been looking at is now being attacked by another force that says hopes that inflation factors are coming right back again and i'm looking at this and i'm saying okay but you held the 200 period moving average right at this moment in the data chart you're in the rectangle with a lot of resistance at 84 but 80 80.45 to 80 80.40 i'm sorry to 84 that's a lot of that's a lot of price so what happens here is really important what happens with a cvx where did i type that where did that go hello anybody yep there it is c cvx um that's also had a huge spike up 7.4 7.70 at 170.89 up 4.7 peak a this is leg b way above the 200 period moving average almost falling so this is saying that these multinational oils are acting extremely well they are just at this particular moment in the sweet spot if i may use the sweet crude oil analogy there but if you're looking at slumberge and this is the oil and gas drillers what happens there in the next couple of days is going to be really important because if they and rig which i we've had before we don't have it now i haven't had for a long time which spiked up is kind of stalling here at up 55 at 6.91 these are the stocks i want to monitor because if they have a second wind after the spectacular move that they've had going from like the october low into the january february highs this is going to put pressure on the market all right but we do have which one we have cvx as part of the dow so it's probably helping the dow somewhat and what we're all looking at here is a question came in let me just see what the question is i'll have a look at that in a moment uh what we are looking at here is you got gold holding very well where did i type that oh i look to know there we go gold gold is looking pretty good it hasn't given back much it looked like it wanted to do yesterday it looked like it was this morning went down to 965 now it's up 16 so when we talk about inflation um there's a lot to worry about because i don't think this market i certainly the fed doesn't want to see inflation continue like this so it was a little bit of a surprise to me to see that the buying pressure that we saw on friday actually followed through it's a pleasure to see because because we are long but it's it's a little disturbing to say is this purely fund management coming in the last day a couple of days of the of the month and now the first couple of days of the next month and all of a sudden wednesday and i'm anticipating that the dow in leg c here's leg c does pull back and then goes to a leg d and then i think we've got to be a little bit careful so i'm trying to give you this overview uh nothing's really changed other than this big spike in crude oil let me just show you something in the tlt which is pulling uh which is rallying so that the yields are coming down so 106.75 in the tlt uh and that's that's within a range and i've been saying for a while that my eye says yields are in a range at this particular point question about s and d what s and d sounds familiar oh no i've known a smart sand ink i know what smart sand ink is but it's up at a dollar 94 it's up 18 cents up 10 percent yeah the 200 being moving average of 202 i think that's going to be significant resistance on that particular stock and if that's the case uh then and it has filled in the gap that was made earlier in march this is good action because the mag d is just now crossing oh it hasn't yet it needs to cross positive the stochastic is rallying but i'm suspecting that this is an emotional response to something smart sand ink uh what yes uh oh it's the oil environment okay so because in the oil environment what i would say is if we can close above 212 by wednesday no if we can close above 212 through wednesday in other words whatever rally it does and it goes over the 202 202 period moving average if it can hold above that for two out of three sessions then that's a really good action and key support is at 179 which is quite a bit lower i'll be back thousand three forty two if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report is a comprehensive look at the metal sector as well as the markets that move gold which is the currency and bond markets new subscribers get a 30 day money back guarantee so you have nothing to lose every monday morning i published a gold 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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 a couple of people i just said one was i could i look at the royal gold gosh i used to have this notated for years if we ever i mean from the inception i'd notated seem to have lost that doesn't matter here it is i just redid it we've gone for the left side just like the dow is done from the left side high that was made back on the 25th of january of 131.89 plummet down to the 200 period moving average at about 112 or so 111 53 at today's high is 131.34 so this is really good it's just underneath that previous high it's in leg e the magnice good sarcastic fantastic 97.73 it means it's 2.27 away from 100 which never it never gets reached although we did see a certain i should have written it down and taped it so i think i did actually i can't find that uh it never gets to 100 so this is very very strong and this is suggesting that royal gold and i believe this is a royalty company um rgld trading 131.25 up a dollar 54 today is telling us that gold is in play because the royalty company wouldn't be doing this well if it weren't if it if it wasn't receiving good benefits and as a as a monthly chart uh it needs a lot of work to be able to break above the hundred and into the 149 area 150 to really say i'm breaking out to one of the highest levels i've been in and at this particular stage uh it's the tacticals in the in the monthly chart are improving a lot but i'd like to see the stochastic not at 62 percent but at about 77 percent right now and it's not and the 76 percent in the in the weekly says that can still improve as well so yes you've got your v shape pattern right here so what happens by the or then we get the date right by the week of this is the week of the fifth the week of between the week of the 12th and the week of the that's sorry the week of the 10th that's next week and the following week if royal gold is trading above 134 to 136 if it hits that once and then closes above it on any daily thing to help the weekly chart i think there will be absolutely incredible action but right now it says it's tremendous supported 127 to 125 i thought i'd just go through that because it's really important another question came in where did i go where did i go where oh i wrote it now um uh yes uh where was i wrote it down okay so a question came in with the the question was to do with why why would the vix index which has been so weak for so long no the question was what would what would change my mind about the the trend in based on the vix index i haven't got it right in front of me but it was a question that came in late friday um and all i can say is that if the volatility index at any three-day period starts to trade it can't just go there once like it does so often but if if it starts to trade it's at 1929 holding key very near term up to a very minor three percent increase in in the trend line if it's able at at 1928 today's low is 1928 it was 1983 at the high if at any point over a period of i'm not you say two out of three days this is different it has to be three days out of five if it is holding above 20 23.15 and it holds above that 23.15 on a closing basis three out of five sessions it did that in that last big move down the 2000 point down move in the dow that we were talking about in march if it's able to hold that particular position and we start to see triple digit declines in the in the dow on a two three-day basis and the s&p has a minus 65 on a two three-day basis i think then we're in not just a short-term pullback but it's more short and i can't even say intermediate term but i'm saying it's more than just a one-week pullback it's like a two to three week pullback so that's the thing that so that was that that was the answer to the question and i'm just saying you asked me a question i'm giving the answer but so far i don't see it happening not not just yet next question came in uh how about the dady candle xom yeah that you see when i was looking at rig this is rig is oops there you go rig is a trans ocean that that said yeah i've spiked to the upside but if i don't hold this gain and i start to close below 681 which so far is the low of the day the open was 698 and i went all the way to 711 xom this is the multinational is holding way at the top part so so far now remember i i always get asked about gaps i have not gaps are just like anything it's like a doji candle it's like a moving average it means nothing until so my rule of thumb is a gap means nothing as long as you're moving away from it as soon as you get back close to it it becomes a magnet it's like a moving average it's like anything else any technical aspect of great importance the further away you move from it the less important it has and the closer you get the more it becomes a magnet just think of it that way gaps moving averages become magnets when they as you get closer all right and that's what you have to break through if you want to continue the direction that you're in and there's a there's a resistance or a support you want to break it decisively okay so so within that question about xon it's a weekly now it's so rare that you get a gap in the weekly chart but it's just pure coincidence i don't put import into a gap on a weekly basis oh it's there i'm not denying it i'm just saying happen on a monday it could have happened on tuesday then you would have had your gap on a weekly basis so that's just it's just saying something important that over the weekend look what happened you went from red from pink in the nine period moving average to the weekly chart not even two hours into the trading day so we've got the whole week to wait which is a shortened week because we wrap up on thursday you want to see this what happens there so that's just but look at that monthly chart you did your one to one this is a this is the best extension you could ever get in a chapel wave one to one breakout of the falling ax formation look at that pink showed you that you had to break that normally i'd go down to the bottom i did it at some point and then i raised it because i'm always a little conservative here i say look i i i don't want to go to the outside when we're just now breaking the upside so i start off at the low part right there and that would take you to that level where we did it very quickly now you've done an exact it's unbelievable how this works on a monthly basis look at this it hit it exactly the one to the marula thumb in a falling ax formation on the upside of the downside if you take it out there could be a one to one move to the upside as long as you're taking out the left side left side peaks of importance and look how many we took out and now you've done that to the upside you've gone actually a little bit further but the actual diagram itself takes you to exactly where we are right now all right so that's accomplished it but the fact that it's a monthly chart is really important and it says cannot deny it this is holding extremely well but i don't know how long this crude oil gap to the upside just at the moment is going to last i got a feeling we we fill some of that but it's telling us be wary this is remember that for years i used to say i don't like to think of shorting gold because anything can happen overnight and the first thing that gets moved to the upside is gold while we're looking at crude oil so crude oil is in play it's back in the right angle formation i've answered that does this add a little bit out of the general market let me see my my my one of my 10 minute charts yeah to this point to a big d extension uh alternate count all right i'll be back we'll talk about this the e-mini and we're looking at the abc there's your d you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by basil Chapman creator of the trading methodology known as the Chapman wave the Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices get the opening call newsletter by basil Chapman in your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors are you looking for a way to consistently add winning trades to your portfolio tom o'brien is here to help tom o'brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade network and CNBC tom o'brien founded tfnn over 20 years ago to help educate investors just like you tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio get tom o'brien's newsletter market insights today and try all of our products and newsletters 30 days risk free with our money back guarantee at tfnn.com tfnn educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade labu or labd directions daily s and p biotech three times bull and bear ETFs visit directioninvestments.com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain 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 look at the gld this is what i'm looking at so it's made a big deep doji candle weekly the month is really improved a lot but it's still it's getting into the wicks of about july august to serve 2020 the long wick of january or february of the 22 and they didn't hold because they pull back very sharply now it's filling and on based on the wick the technique that i use for these wicks if the if gold on a it's a monthly chart if on a weekly basis i usually i'd say daily but i want to go to the weekly on a weekly basis if there's a close of over 187 it's at 184.68 that says there's a really good chance we're going to try to go to the top of that candle for march 22 of 193.30 that's the way i'd look at it and if there is a pullback underneath 179 on the daily basis it says that yes the rectangle that i drew in here in fact i have to draw a little differently i have to go to that low right there that rectangle we're in the rectangle we're trying to fill it up it should go towards the high there and then pull back but so far gold is absolutely holding extremely well question came in about where was it oh um netflix uh netflix trading at 344.22 down to 29 it has made legs see there should be a pullback and then a leg d i'm thinking there's going to be a lot of resistance between this doji candle on the 17th of feb with a high of 349 20 of 349 08 and the low the previous down the 16th of 350.71 so this is a little gap so i think we can get there and then i think we go sideways that's what this v-shaped pattern's saying in the monthly chart but it's improved a lot but i'm not expecting that it becomes a leader at all although it's looking way better than some of the other stocks in that category amazon's made it making a peak c today if there's no new recovery high above friday's high it's kind of stalling here a little bit if you're looking at uh apple apple spiked higher it's only in leg come on apple there it's only in leg see right now it's actually well finally it's gotten above the chapter wave inside track repellent zone right there right there look this is a repellent zone from the high that was made in apple the 7th of january of 2022 at 182.94 did not write that in i'm i should have and then it plumbers down to the most recent low january january of this year it goes to we could generate the six it goes to 124.17 i might as i just typed that in 124.17 17 where did i type it i typed in the wrong place here we go 124.17 i think it was one six 23 okay and now we're okay 40 points higher over 40 points higher that's really good action and for the first time we've broken out in since it was last year about august when we just for one moment we broke above the inside track repellent zone we went under it and we're making lower lows and lower highs but now on the way up we're making higher highs and higher lows and that says the whole area of 150 160 to 153 is going to be key support in any serious pullback we get in the market if there's going to be one in april our next question came in where was it oh that's right it was on this side could i look at oh natural gas yeah sure so what i said friday was um if there was a close if it could get to the two oh now can't remember exactly well i think it was using the ung the ung yes i said if it can get a close above 683 that would be the first time that i'd be able to look at it and saying how did the mac d handle that and how did the stochastic well the stochastic it remains at 8.76 and ung is down 28 ticks at 665 so as i said before this is a process that is telling us that the rally that i just just believed although it was fantastic i mean it was about a 28 to 32 percent rally from 714 to the high of 714 back in uh february and it runs all the way to the march high of 999 that's a that's a stupendous rally i mean that's a rally that you would expect over months in anything else but it then capped down and continued making lower lows and lower highs and look the pink 9 period moving average you couldn't cross above it so i'm saying that this is a process that says this and i've been saying this forever and i don't know the answer i'm just making it as a question statement in other words is there something wrong with natural gas that is doing that there must be there must be a glut somewhere otherwise this wouldn't have happened not only that the move up here that steady move up every day you saw a little bit of a gain a little bit of a gain single leg a going all the way from for one two three four five six seven eight eight or nine bars with a 30 gain and then you get to peak a minus because it's that eiffel tower straight up straight down so there's something going on and i personally would wait for you and g2 to formulate some kind of structure that says to me who now i'm starting to see buying because i'm seeing higher highs and higher lows until you start to see this might be the start maybe uh tuesday or wednesday we get a gap into the we move into the gap between the pink and the the black 14 period moving average 704 to 728 in the continuous no that is in the urn g the united states natural gas fund so with that said i i'm a little cautious just on a daily basis saying to subscribe i didn't want to add anything here we've got really nice positions i don't want to mess around i just drew this in during the break i think some of you saw me do that during the chapter we've arch formation the left side right side price time match it was not to any midpoint was to a particular candle and i put in the x right there it came in two sessions early it took it out and now the s and p futures only have 4.50 at 4142 i think that there's going to be a give back here and they might there might be just one news related thing that says all right we pull back tuesday and then wednesday there's just one maybe pop to the upside to get the dow to get to d it doesn't have to but it almost always does go to chapter we peak d and then you've got to be a little careful so here we go i'll do this before the break comes see we went right to uh thirty three thousand six thirty two point ninety that's above the previous high that's a good sign but we need to close above it to be ready positive the magnies goods the castings fabulous in 92.88 on balance volume isn't overboard it's doing very nicely in the daily the weekly charts improve the monthly chart is improving i look at the s and p s and p is a little different because the s and p took out that left side higher over there now the 41 95 high of february is a big challenge we're at 41 10 i mean we've got a long way to go 80 85 84 points so what we're looking at here the stochastic fabulous 94 the magnies good on balance volume is rallying not overboard so i'd see enough strength that there could be just one a residual pop it's almost like we're looking at the internal high here we have to pull back and then make the residual high and then we start to pull back this is only on the daily short term chart the weekly charts improve the lot because the qqq one two three there we go broke out above the 313 38 major high that it made uh back in feb and here we are down 2.18 and 318.70 making a peak c i don't see any fan i see nothing but this can only be a peak c at this point i there could be an instant restart this is a gsnc that could be i think i don't want to get into fancy anything this is a brand new bicycle the bimer should be this does that 254 points isn't so too bad tfnn has just launched their new trading room the tiger zen hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours and now they are expanding their reach with the tiger's den available to all tigers and tiger's for just one dollar for the year there's no cash or added costs when you join our community of traders in the tiger's den you can look over the shoulders of tom o brian and the other tfnn hosts while they analyze charts during their live tiger tv programs and join an interactive trading community with hundreds of members exchanging ideas interact with other 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you need to act on at any time first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com hi once we're back so i don't really want to make the claim that we might have seen the higher for the day right now without some kind of verification of what i'm really looking at number one i was anticipating some kind of a give back of the big gains of friday that's normal and this is a gap up so now let's just go to our chart this is the one i show my subscribers every day every market day with my newsletter and we've spiked all the way up i i've oh i just moved something okay this is leg c and what i said is that in the left side right side price time match to the 33,572 high i'm expecting the next couple of days while we did it not only that we broke above you see these little green numbers here this is chapter we've automated resistance levels and in the 120 minute chart we extended leg d so the evidence to me says there's a really good chance that this was more a kind of an emotional follow through buying people felt that they missed out and that there should be some pullback but there'll be enough residual strength in the dow and i thought in the qqq to have one big spike to the upside because the s and p as i said has already made its peak d a leg d that's what you expect in the in a buy signal to buy mode in the chapter wave methodology but the the dow is only a leg c and it needs probably a pullback before it can go to a leg d and qqq uh is it it'll be a peak c of the the high of friday which is what did i say it was 321 something other let me just see if i can see that right now uh 321 17 if that's not taken out today that'll make a peak c and then you go away doesn't tell you how long it could be a couple of days i don't like the 136 raw broken in this case one two three four five broke it to the upside so that was good so that's still upside acceleration but i think i'm a very short term base in today i think we're going to be pulling back have a wonderful day stay tuned for steve rose great program in the rest of the day check out the opening call and i'll see you tomorrow