 The following is a presentation of TFNN the morning market kickoff with your host Tommy O'Brien. I've always buzzed the chat in the air sitting here for Tommy O'Brien just a sudden switch to the last minute and of course I cannot do what Tommy does so well and give you all the fundamentals but let's just look at the markets as it stands right now I think we becoming somewhat vulnerable if you think either side is going to give in for this debate or debate this fiasco going on right now because it shouldn't be this should not have happened at all you've had since I think in February they started wanting to talk this is just ridiculous but that's the way it is in politics so here we are we're looking at the Dow which closed at thirty-five thousand two eighty six on Monday the futures right now are down a little bit not too bad down 71 at thirty-three thousand two ninety so the patterns that I like to look at let me just get this right here and we'll do it just as we're talking there we go so the patterns that I always like to look at a straight line up or straight line down an arch formation or a cup formation and those could be VJ formations where you go from one point down and then back again to that point or one point up with them back again most importantly when this lower goes straight line down there's just straight line down that's the first one it makes this inverted V shape pattern yes the second one this is the futures and this goes to peak A and a peak B gray A and gray B because you didn't have confirmation of the technicals being strong so it's a I'm not going to change it right now a and B still hasn't taken out the left side low so this is all valid this is another a right here it doesn't take it out the upside well what happens is in this particular technique well if I can just get that right back again oh did I just use it where did it go there is when you make this arch formation and failure to peak A or B this first or second highest peak after that low ball was made and you take out that left side low it can go quite a bit low but if you hold the left side low then you can actually make it a second arch formation I call that the lowercase H that goes to a lowercase M there you've got the H and you're making the M pattern and that just says it's going to be harder and harder to break above the left side high I'm talking about the futures right now and in this particular instance the high that would be in the futures would be the high of the 10th of May which is at 33,854 but there's a good chance that you're going to take out this left side low but wait a minute look at the E mini this is a continuous contract it's in straightening right now at 41 91 down 13.75 that made an alternate count F slash C but in the actual SPI itself there's no other way I can count this this is actually a peak C and in the Chapman methodology a bi-signal going to a bi-mode invariably will go to a D and then you've got to be careful so what I say to subscribers to my opening call that's my daily service here at the TFNN my newsletter I'm anticipating that either we have a little bit of a bounce today somehow other maybe hit the 40 for 20.72 level or just go under it for what I call a peak C1 and a peak C2 now why do I talk about that because I'm anticipating that there's going to be some conflagration going on politically and that this market is not going to like it over the next few days we've had some optimism but don't believe that come on anyone who says we're close to a deal you're never close to a deal until the deal is done and then there's all your compromises made so as far as I'm concerned this is a period fraught with a zigzag kind of move maybe like a yo-yo or a sine wave but in the dials case it's been making lower highs and lower lows in the S&P's been making higher highs and higher lows but I think that's about to change why because the QQQ remember the Chapman methodology we're always looking for a bi-signal to be upgraded to a bi-mode that can go to at least a D well there's your D a leg D as I talk right now 336.28 in the QQQ made a high yesterday of 338 I think it was yes 338.67 look at the end Q that is the futures made in a leg D even this morning it ran higher now it's down 57 at 13,846 so what am I anticipating I'm anticipating that even though the technicals in the index 100 this is the E-mini NDX 100 continuous contract I'm suspecting that we're going to at least get choppiness to come down towards the 13,500 we're at 13,844 right now that's going to be the big near-term test but I think we can go lower than that I think the upside is kind of limited for now I just don't know what's going to make the market suddenly break to the upside and if you're looking at the IWM which is the Russell 2000 this is trading down as 32 cents at 177.94 a much better action that we've then we've seen for a little while but not good enough because it's bumped into the resistance that was made with the high of the 18th of April and that was at 178.63 yesterday's high was 178.97 fractionally higher I'm calling that a leg C but most importantly it says that you're in a position right now where the technicals have improved a lot but the price hasn't gone even close to the 200-period moving average of 181.68 and that really is an issue I'm not even talking about the weekly chart which looks terrible and the monthly chart doesn't look very good at all now this is going to be the issue the gold right now is down 13 and we be looking at gold I see this peak D that was made in the Chevron methodology on the I think was the 1st of April let me just double-check on the 20 on the 3rd of May that's April 3rd of May 2000 and 2000 and go why is it so hard to see two thousand and eighty they are eighty five point four the following system two thousand eighty five point four unusual to have the futures having double tops like that made a peak D and I said if you measure the move the vertical move from the high that was made in April to the high that was made in May you'll see that the MACD was very weak the stochastic was very weak the on balance volume was good but it reversed immediately right at the ictus at that very moment that it made the high the on balance volume made a high and then turned around so this is to me gold is pulling back very sharply I'll just do silver now we may as well silver trading right now down 39 cents at 2347 right on the 200 period expenditure moving average not looking very good at all ha dollar the dollar right now is trading up 31 ticks at 103.56 and you can see that the dollar is really it's had a good move from one 100.79 to where it is right now at 103.56 remember the dollar in the hundred area to really get a significant move you need to move about four or five points so this is so far quite good but not great the 200 period moving average 103.76 I think that's going to be tagged and that's going to be an issue because I think it corresponds exactly to what we're looking at in the market and that just tells me that we've got to be somewhat careful here I'll just do this as we're about this is here we go market morning market kickoff show for Tommy O'Brien I'm sitting in Basil Chapman I used to do the tiger to fix our coming up at 10 o'clock so I'm sitting here and the PLT the balance is down 34 ticks at 120 not very obvious 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 comm 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 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added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of TFNN comm folks we're back and my pleasure actually once again haven't done it for a little while to have Kevin Hings on the line Kevin how are you good morning Basil good to talk to you yeah it's very good to talk to you I was in Chicago a couple of weekends ago but unfortunately I never got to the city I was just in and out for a family event and didn't get I was so looking for I love Chicago I love the architecture of Chicago just didn't get to see the city but how are you I'm good Basil you know I'm looking at the market today that we're learning a couple things as we get through this right I'm going to give you and your viewers an actual positive outlook on the debt ceiling basil I read down to one real talking point and that is the spending caps it sounds like remember I spoke on the TD Ameritrade Network about the four major issues about the debt ceiling the COVID funds left over pulling those back the energy permitting streamlining the process that's what Joe Manchin is spearheading the work requirements for food financial and healthcare aid right I think those are all settled I think the spending caps is the last thing they're working on so I think it's a little more positive in terms of the debt ceiling and I think the market thinks that too because bonds would be rallying not selling off basil the VIX would be higher not where it is now so I think the market is discounting any problems with the debt ceiling even though politicians are screaming at the top of their lungs so the markets just not the market let's put it this way the market just doesn't believe them basil so so it means that it could continue like this almost until the last minute because that's kind of what politicians tend to do you know I was I was looking at the charts and if it wasn't for this discussion about the debt the limits etc there are there's a broadening out of the market as I see it and what's really important is the October low every time we get something like this one of the things that I've been looking at is we start to pull back but we pull back from a higher level so it makes that October low something really terrible has to happen to get down there and I just at this particular point I don't see it so I'm kind of in your camp but politicians like to wait until the very last minute before they give in so I think we might still have some choppiness over the week well what what are you going to are the particular stocks that you're looking at right now that earnings etc that are also going to give you a tell well I think here's what I think you have to look at I think in video earnings tomorrow after the close are very important not only because you know AI is such a buzzword topic right now with all these companies but I don't know how much it's going to show up on their bottom line and video has run an incredibly long way it's incredibly overbought it's been soft the last couple days but you know the NASDAQ in general has run a long way and has been overbought so I think the bigger risk to this market is not the debt ceiling I think it's the fact and James Bullard alluded to it yesterday Basil and that is inflation data is not going down if you look at personal income and outlays the data coming out Friday all the consensus expectations for that number are the year-over-year headline up from 4.2 to 4.3 the core PCE year-over-year is flat at 4.6 for the third month in a row that's what the expectations are so I think the bigger risk to this market is what James Bullard alluded to and the fact that inflation isn't coming down you'll you saw the wage inflation from the last payrolls number it was up it was higher year-over-year so inflation's not coming down at the rate they needed to or coming down at all bad look I think that is the biggest risk to this market right now not the debt ceiling if you look at the average price of an automobile sale I think what a 48,000 this is that's a very high number so that means that the the people are prepared to put more money to work but that also adds to this inflationary aspect doesn't it well look at used car prices on the last CPI number up 4.4% so used car prices are still out of control on the upside they've come down slightly but they just reignited to the upside even though new cars were down slightly used cars are still very high and going higher so I think there's still inflation in the pipeline but it's it's it's plateaued I guess that's some good news but the Fed is looking for much better than plateauing as you know Basil what's a stock so you're gonna be talking about this this afternoon and your show and folks if you want to know about options this is a fantastic show to listen to what what are you gonna be talking about yeah earnings today in Palo Alto networks that come out after the bell today earnings in cold that come out before the open tomorrow and then toll brothers housing that come out after the bell today so three good socks coming out with earnings either after the bell today or tomorrow morning before the open so yeah we've got a great show plan today yesterday we covered Lowe's and Dick's Sporting Goods so those were very interesting discussions they have we'll have more of those today Basil and tall brothers of course defying everything that you'd think with the high rates tall brothers has had a fantastic move even just this year alone going from 40 to 54 that's a big percentage move yeah I listen I think housing is yeah I believe it's my personal belief basil that since the housing crisis in 2008-9 that were extremely low in terms of housing inventory so I think when rates spike higher a queue forms for housing it doesn't they don't go away they I think they they they just wait buyers wait and when when rates stabilize or come slightly down they come flooding back into the market I think that's why you're seeing a big recovery in a lot of the home bill there's basil yeah I think you've been pointed a whole bunch of things that are really important so I'm gonna be watching this very closely but you're probably correct in the just isolating and then just saying to yourself they're just one or two factors that need to be really really discussed in terms of the debt limit and I think we'll be watching that very closely because the market is on edge here you can see it kind of wants to go up and then it wants to go down and then some sectors like the semiconductors have done very well like you mentioned and video and that's just telling you that there is demand out there but it's I think at this point it's still very selective yeah you know I think this is a market that's trading in different ways I mean just look at the last week basil footlocker down significantly 19 and Dick sporting goods sell off with footlocker but but Dick sporting goods was able to beat on earnings and reaffirm guidance and put up pretty good numbers so yeah I think every stock in earnings season is its own mini story we put those all together and we form the macro look at this market but it right during earnings season it's made up of a bunch of little stories I think tomorrow in video is a key driver remember this is a market that's rally on the back of very few names right yes video is one of those names I think that's a key number tomorrow after the bell basil and also and really is telling us as you say AI but it's also a part auto it's it's in every area there's oh yeah that is important and maybe it's just gotten a little ahead of itself so we'll be watching exactly I'm really looking forward to your show I think you're gonna pinpoint a bunch of things that people can actually do to be prepared for it thank you so much Kevin great to speak with you and have a good day thanks for having me I'm bad love a great day thank you folks we'll be back Basil 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think or swim banner on the front page of TFNN.com folks we're back market is open vassal champion here for Tommy O'Brien this is morning market kickoff time and what we're looking at talk about kickoff let me just go right here to the doll the doll did I type that just type it in the game right there dollar I end here you there it goes the doll is down 152 with thirty three thousand 128 right on the 200 period exponential moving average this is important because it's starting to weaken the daily and now the month the yeah the weekly chart the nine is still over the 14 but really close to turning down this is going to be a very important week I would say for the market overall looking at the S&P the S&P cash right now is down 20 at 41 73 now what I'd said earlier on and I'll say it again is in in my work that peak G in the chapter we methodology almost it's like a right arm extension it's really not like a rogue wave because it wasn't in one sweep to the upside was three bars with a doji candle at 41 86.92 on the 1st of May then a pullback made a lower low and if it didn't that would be different but it did and that means we have to start a brand new buy mode because and PG there's no H so you have to see what's the wave count so wave count as I see it is a B and this is a C there should be some attempt to get very close to the high that was made I've got it in the spine let me just give you the spy figure right now of 4 20 point 72 that was the high of two days ago three days ago and this is going to be important because some of it is a little strange I had a question that in when does it give you the exact question because I'll do it more in my show coming up at 10 o'clock but it's a very good question the question is Basil where in your sequence of identified peaks or patterns or price movement to buy signals typically turn into a buy mode doesn't require a particular configuration of stochastic I'm so pleased you saw that in fact I didn't see that very last part even though I'd written down here for a really good example of a failure pattern so let me explain what I'm looking at this is still early in the game I've got a buy sequence that went to a buy mode because the MACD and this is the S&P of the spy daily because the MACD turned up positively the stochastic ran over 80% went to 88% after the peak B we broke above peak B in a quite a strong move the on balance volume is good everything here is suggesting even though we've got all this bad news sitting potential bad news out there with the market and really not sure what to do which way but there are a couple of areas that have shown strength but in this particular instance there's no other way I can count this as a peak C it could fail it's really unusual to fail at a peak C when everything is in buy mode sequence and I'll explain it best because I had a question could I look at Pfizer and Pfizer if you look at the weekly chart of Pfizer let me just get that to work there it is click click okay you see this weekly chart right I've got an up arrow where the MACD turned around sharply the stochastic turned around from under 20% to under 10% even maybe 8% and then saw to the upside on balance volume went up the nine-period moving average eventually crossed positive so it went peak A doji candle pull back peak B pulls back and then it had a very strong move as the weekly chart of Pfizer PFE is a symbol and it went to a peak C I'm going to move it over like this let's just say I did not know but the MACD stochastic on balance volume is lagging but it's running nicely that should have gone to a D now the question came in and thank you so much for that for that full statement of your question because you really covered exactly what I look for so does it require a particular configuration of stochastic that was just one of the things that you pointed out well look the stochastic is very good and then what does it do it goes to a strong leg C pulls back it should go to a D but look what happened to the stochastic it went over 80% and then it starts to drop and that as long as the stochastic is holding over 80 80% that's a really good sign and if that continues to hold it should go to a D the stochastic failed look what happened right here in 2021 going into the December timeframe it goes through peak D and then an E look the MACD is strong look what happened to the stochastic on the on balance volume both of them very confirmed the rally to E and then pull back sharply stochastic went sharply under 80% very quickly and dragged the price down so that's what i'm looking at here that's why that peak C failed and made this v-shaped pattern the Eiffel Tower straight up and straight down took out the left side low so let's go back to what the question was and why i'm saying the spy so far with the stochastic even today with it pulling back the stochastic is at 88% and that's just suggesting that there is enough strength to have maybe just one pop it doesn't have to go to 420.73 to go to leg D if it fails in the 420.60s and then pulls back sharply with the stochastic then in the next couple of days going under 80% that'll be the trigger to say uh oh this is going to be a sell signal so that's what i'm looking at i hope i answer the question that a buy signal gets upgraded to a buy mode if either leg B is very strong the stochastic gets quickly to 80 maybe 84% leg D is good nine been moving average crosses over the 14 but it can fail it's not like it's a fail proof thing it's rare but it can fail but in this particular instance it's saying it's just enough strength to be able to try to get very close to the 420 maybe 50 level and then maybe we tank from there or that's a breakout to the upside so i'm looking at this a scan saying you tell me i've done my homework you tell me i'm prepared to go short but under certain conditions that's what i said to subscribers but we're waiting for those conditions to be met now the other thing is this um yeah okay so a couple of questions aqst aqst is a quest of therapeutics i have to tell you these biotechs i'm going to tell you a sub story right now in a moment about something that i we i planned i did everything i did we did the homework and we got in but then um i made the stop a little tight and we got stopped out and we could have had two positions in this and it would have done fantastic i'll get to that a little later on but aqst is 2.44 trading up two cents right now so i had done the homework on this i had a leg d uh back in early may i haven't looked at it since and look what happened it went buy signal to buy mode held the 200 feet moving average and that d is called leg d a floating letter until it makes a peak well it went leg d leg d right here at on the uh fifth of may it went to two thousand forty cents the very next day went to 240 cents so that's still a d that's still a d and then it makes a peak d because on the 11th it goes to 265 and the next day the highest 254 so that makes a peak you remember it's a floating letter until it makes a peak i'll be right back it's fall back and now it's having a really good rally and it looks like it wants to try to get to the 260s it's a 244 right now of two cents i'll be back in a moment we were looking at aqst of therapeutics i was down 133 18 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 basal chapman creator of the trading methodology known as the chapman wave the chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by basal chapman 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 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 xAU 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 will the smp 500 continue to climb for bull trades on us large cap stocks in either direction trade spxl spu u or spxs directions daily smp 500 bull and bear leveraged etfs direction leveraged etfs an investor should carefully consider a fund's investment objective risks charges and expenses before investing a fund's prospectus and summary prospectus contain this and other information about direction shares to obtain a fund's prospectus and summary prospectus call 866-476-7523 or visit directioninvestments.com a fund's prospectus and 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 for side fund services LLC this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz i've always been the champion for tom obrien we're looking at a qsj a quest of therapeutics i suspect that it's going to try to tag that 260 level most importantly i had to raise this e was somewhere over here because i hadn't looked at it for a while now it's here so it's made a peak e it's still the mac d in the week is very strong the stochastic's pulling back to 74% on balance funds pulling back so i'm going to suggest that it's going to be in a trading range and i would know i'm going to draw this in we'll see we'll look at it again in a week or so maybe uh and i'm going to draw this in i'm going to say i suspect that it's in this rectangle formation and it could go a little higher if it goes to the 280 level that is really fantastic but i think it's going to store the 260s and then kind of hover around here be in the middle but it's acting extremely well looking out the mac d in the monthly chart has turned up the nine period moving average is still got a long way to go to get positive you'd have to see this up in the 380 420 area for at least a week maybe even two weeks for that mac d to so for the nine period moving average to cross positive but the stochastic is just starting to rally now so this is a a work in progress and it has these huge moves and then gives back a chunk of it the very next month so i suspect that at any point if it goes under $1.78 on a closing basis this move is done you have to now wait for the next big since it's biotech the next FDA or whatever it is the or a paper that comes out whatever it is it has to be a very influential in in carrying it for a sustained move now it's had the move it's digesting and maybe have one retest if you look at the technicals my my eye says that the left side high earlier in may and where we are right now the mac d is turning positive but it's still very weak stochastics way down 65 i think it's starting to it's running out of upside power so it can go a little higher but i think the two i wouldn't be surprised at the 254 areas strong resistance and it just needs a little more time that was that question so the question came in about pf and really i've had a lot of people ask me in the in the not the biotechs but in the pharmaceuticals what's happening there well there are certain drugs and certain medications that are coming coming about that already they could be life changing for a lot of people in the area of dietary aspects but in many areas and all the pharmacies especially the biotechs but especially the big pharmacies now that they've gotten deeply into this they some of them bought bought biotechs biotech companies so they've morphed a little bit from the classic pharmaceuticals so i'm looking at this and i would just recommend to you that in terms of getting into Pfizer the steepness of the move to the downside says if you're looking out maybe six to nine even say eight to ten weeks i can see that within the next two months there's a move towards the 42 43 area about four four points that's about 10 11 but there is a risk of a 10 to 15 pullback on the spike that you saw yesterday which looks purely instrumental in terms of news related spikes and that looks to me like a news related spike let's look at it again together maybe today's tuesday a little later in the week or maybe even next week because if it starts to hold about 3950 hits 40.20 that's a different thing altogether because now it's starting to make higher highs and higher lows right now it's just the start of a turnaround to the upside i like it looking out because it's not in the steep move at stake in time from the high in the 60s down to the low in the 20s that was made so in the 30s 30 the last over about 36 i i like what's going on but it's just a little early and it's very silly it doesn't look to me like there are fund managers that are getting into this for a sustained move i wouldn't be surprised if right now over the last three days they started nibble and that just says to me watch 37 the 37 is taken out on a closing basis i wouldn't touch it now but if it holds and it doesn't even get to 30 it's a 38 16 doesn't even hit 3750 this week instead it holds here then i start to look at it but think of it more as a longer term maybe almost a buy and hold but and i would do this i don't think you use options i would have looked at this as an option it's a 38 i would say a 40 call going into july or august to me that would be a really nice way to do it but you don't do that so i'm only mentioning it just as one of the possibilities um a question ar w r ar w r ar here we go that's what it is went to a g says she remember the chapter in mythology for quite a long while now in fact for about two or three years i've been saying a g stash seal turn it counter the chapter wave invariably goes to a d and there it is it went to the d in arrowhead farmer biotech it went to the d right there now i haven't been able to put a down arrow to say it's in a cell it's it's in a cell signal but not yet a cell mode but i am going to put this in because the magnies weeks the casting is weak nine-period moving average is very close to turning down that doesn't mean to can't rally i'm just saying that's the designation right now 38 well i'd say 30 a close above 38 70 in the next two days would be good but if it pulls back you got to watch the 35s break under 35 says uh oh not ready for prime time yet has his big spikes like a biotech and then pulls back next question came in could i look at oh the general market say let's look at the e-mini right now because i'm really do anything i'm on the show so i'm really trading anything like that so this you see the stochastic is at 87 88 percent the magnies good so i can say i'm going to put this up arrow to say it's in a bi signal and now i have to analyze to say is it in a bi mode so yes your peak a right now the one-minute chart a pulls back has another a right there gray a that becomes a b i like what i'm seeing and that's why i was saying to subscribers have patience i think there's going to be a flurry to the upside how much i just don't know yet but that's what i'm looking at so now i can drill this in as a cup formation right here cup formation right there uh it's a little late to do this but i will do that anyway normally what i would do is i go from the left side i'd look for either the ictus of the low to say hey i could see a bar symmetry with a number of bars on the left side equal number of bars on the right side i think we were already there so this one's already late as i'm doing it right here okay there it is so we've already surpassed that this i would have done a little more conservatively i would have taken it from that high um and that would have been just about right this is still a leg b we haven't made a peak because we're moving in 25 increments this is still a big i love what's going on right now i want to see a rally i need to see a rally because um what we're looking at in terms of um in terms of the marketplace the negativity is going to be there's a little rumors a rumor to the one side a rumor to the other side and that's what i'm looking at right now that i think we're in this flurry of activity with the yo-yo format and that just says rallies are bought sorry rallies are sold and declines are bought so selling gets pressure on the on the upside because you find cushioning but then it stalls because the rally gets filtered out and it starts to pull back i like what i'm seeing right now um oh is that the music no way yeah we go one more segment to go this is the morning market kickoff show tommy and brian can do it i'm sitting in basil chap and i will be back of course for my show at 10 check out my opening for my date and newsletter let's see the guys come back nice it's only 954 recipes not only down nine oh what a fascinating tfnn has just launched their new trading room the tiger's end hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders 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context of the S&P there's a chance and I have to say it's a chance but I there's no other way I can count this this is a buy mode at this particular point it can fail there should be at least a test of the high that was made on the 19th a couple of days ago of 4204 point sorry 4212.91 so that 4212.91 level let me just put it in 4212.91 we could get close we could break above it but my suspicion is that we could get somewhat close and then I think the market is vulnerable for a couple of days as the whole thing with the the death ceiling just no party is just going to give up anything until the last minute so that's the way I'm looking at it and as we get closer and closer so the market is going to be a little bit more nervous about what happens eventually of course we know that these things the default American we don't want to default so I'm looking at this and saying how does it how does the market react how does the market react afterwards so let's just forget about that right now look at levels to watch on the on the S&P where 4183 a close anytime in the next week going into Friday a close below 4 this is make it 4129 and make it 4130 a close below 4130 that's 53 points from here would say uh oh we're going into a digestive phase and not a major cell but just a kind of a digestive phase and that's what we're looking at a close above 4222 a kind of a breakout would be um I would I would have to say 4222 would suggest that the weekly charts are going to improve even more and that we could have a pullback at any point but it'll be the sideways digestive action so that's the way I'm looking at it right now I'm more positive than negative but on a very short term basis I'm ready to pull the short trigger haven't done that yet um and mostly we're in long positions so along the Dow actually from the October low and the new Dow a few times long from the October low and we have trading positions in an hour between that time so I'm going to be back with the Tiger Tech this is our check out my opening call be back with the news in a moment stay tuned and uh Dow is down again