 The following is a presentation of TFNN The Tiger Technician Hour with your host, Basil Chapman. Call now. Call free at 1-877-927-6648. Everyone, Basil Chapman here and what you can see how I'm doing at this particular point. I'm not taking, I've already done them many times before but I seem to have lost the notation. I'll do it again. I'm looking at the XLI. This is the S&P Select Industrial Spider Fund. This is way more accurate in terms of cornering an industrial ETF than the Dow. The Dow is no more industrial than semiconductors. I mean although semiconductors are in everything but it's not your classic industrial. So this year is telling me that the S&P Select Industrial Spider Fund made an all-time high this year. The Dow did not make an all-time high. This did and it went to an after calling an alternate account F slash C with this candle of the 8th of August. This is August of this year. It went to 111.12. So let me just type this in. I'll do it in the weekly chart. 111.12 and that's 8. I'm just going to have to guess at this 8. And it's called 12. I'll come back and check it in a moment. And look at this. 8.04 high. I missed that one. It doesn't look like the first week that I've typed in the second week. So how about this? So it's at 111 and it's trading right now at 97. So that's some 15 points, 14-15 points off the high, off the all-time high. And this is really the industrious. And if you look at Caterpillar, look, it's the same thing. Caterpillar made, I think it was August, September, October. Yeah, August also made its all-time high. Let me just double check. I believe that's an all-time high. Caterpillar, heavy duty grip. Whoa, is that an all-time high? Yep. And now it is down, ugly day today, down almost two at 243. It's under the 200-period exponential moving average. And this is the reason why we've remained short from that August first high. Let me just get this. I'm doing two things at once. The August first high in the Dow, and we've remained short. And one of the reasons I'm not going to change that position is we haven't had a VIX index up in the 2832 area. Let me just go to the VIX right now. This is a little bit unconventional in my usual preamble, but I think it's really important. I've got to go to what is absolutely imperative to monitor right now. It doesn't mean anything if you do it two days later or a few days later. It means right now, the Dow, right, this is the top, 35,679 August the first. That's where the on-balance volume and a couple of other channel wave tools that I use, I gave a beautiful indication that it could reverse that day. And it was really based also on the DOG, which is one-to-one, short the Dow, the buy signal. And within that context, I look at the VIX index of VIX.x, am I typing in the right? Yes, I am. VIX index is up $1.05 at $21.24. So it's starting to make higher highs and higher lows. Yes, it's gone to a PD, but in the channel wave methodology, the only thing that I don't really put great importance to is the volatility, because that's based on many other things, New York stock exchange or futures. It's just got to do with things that are emotional, mostly. And that just says to me, you could follow this peak, see massive move to 85.47 in March of 2020, remember that's what David actually went along, coronavirus, business, everything was negative on that day. And that was a C. And then it came back down and it made another peak, ABC, before it pulled back since last year, I think it was November. So you can't, 2022, yes. You can't really use that in the same way. Now it was 2021. Let me just give you the exact day. January of 2022. So that's when we went to a peak C and now it's only in another A. So those channel wave methodology doesn't work for the notation of the VIX index. Everything else it does. Now here's something very interesting. This is a down channel. It's called the channel wave inside track repellent zone. This does work. And you can see how it's working. I mean, half a dozen times at least, we've, it's more than that, we've got into this range, didn't break and close above the green line, it went to the pink line and reversed. So I'm anticipating, this is kind of the area that we want to see some kind of a spike to the upside. And this could happen here. Let's just say that the Dow is only down 32, but that's because the Dow is starting to look IBM. Let me just show you something very interesting here. I've been doing that. I tell subscribers to my opening call. I've liked IBM. I think IBM is going to be the turnaround kid, kid. It's been around since the 1940s, I think. And, and, but it's, it's just been a lagging. And I don't know how many decades and not years, but decades, I've heard, oh, they're getting into this and they're getting into that. And when they get into, ah, and they always make a mistake. Except this time, I believe that they have, look at the big spike today. It's up five and 142.41. I don't think this is it for the low for IBM just yet. It needs to do some retesting. 137 is the terms of premoving average in the daily. 133 is the terms of premoving average in the weekly. I think it needs to do some testing, but it's going to be very interesting. Why? Because look, we've got IBM, which is not an industrial. And it used to be in the Dow. Then it got knocked off. It got bounced. And actually it got almost bounced, but it's still in the Dow. And it's important today. It's up five at 142. That's helping the Dow. Otherwise, the Dow would be down low. But look at this triple M. I don't think triple M's made us low. But wow, that was a nice three days of a gap up and holding the gap, because they start to improve some of the things that are going on. And you can go, I don't want to go through them all, but you can go through a lot of these stocks that had really good turnarounds. I mean, GE used to be in the Dow. It was the longest one, the longest living Dow stocks. I think now Honeywell is because it was there early on. But what we're looking at is GE's given back a chunk. And one of the reasons is you see this rectangle formation? Just have a look at this. You don't have to know that this is a weekly chart. You see this sideways long narrow rectangle that it takes out the low? Charts are charts. I'll show you something very interesting. Look at this. We just saw that this morning. Look, he has the one minute chart. The many same thing. Toodle, toodle, toodle, goes sideways, just sneaks above that line. Remember, I use this and I always say there's a mid, you should have a phantom or you can even put it in the mid channel line between the narrow rectangle. And if it takes it out after going sideways for a long time at a peak F or a DEF, even a G, you've got to be careful because if it takes it out, it's going to test the low of the rectangle and then probably pierce it and then come back. And if it comes back and then goes above it, you've got to be careful because it could repeat the same thing again, which it did. And then it went, failed at that peak G many times. And then what did it do? It took out the rectangle low and come boom. Well, isn't this the same chart? Let's just go back. It doesn't matter. That's the one minute chart. There is the weekly. It just did the same thing. So I think GE, which is active painstically, even though it's 100 to one or something, 10 to one split as straight right now at 108.49. I think it's due for a little breather. I'll be back. 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? 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 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. 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 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from veteran day trader Larry Pezzavento 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 24-7 newsletter today. TFNN.com. Educating Investors. Live programming hosted by a variety of professional traders during market hours. Tiger's Day. Available to all tigers and tigers for just $1 for the year. There's no cash or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Just before I go any further, and I actually haven't even done a review yet, I did it for the 10am Tiger Financial News Network market update, but I haven't done it yet. So yesterday I had a question about UVXY. It was during my show. And the question was, I would like to get into UVXY. And I said, hold off. And the only reason I said that is because there was such a mixed market. There was such a, you know, the Dow was acting well. The others were not acting all that well, but the Qs were still kind of holding okay. And I just thought for a risk reward, I wasn't able to say, yeah, get it right here and put in whatever stop it is because the whippiness makes it so difficult. I mean, even today, you know, if you thought you'd, you'd want to short the Dow because you thought, yeah, this couldn't last and all that. You probably would have got stopped out because there was a pretty decent rally, or if you wanted to buy it, you probably would have got stopped out because it was a pretty strong dip. But the H pattern is imperative to monitor, just as this cut pattern, even though it is the sentiment indicator, the pro shares ultra VIX, and that's the ultra VIX and it's going together with the volatility index direction. So I have to apologize. I should have said, yeah, just start a position. If I wasn't sure, I would have said start a position, make it a split position and then give it another number. And you would at least would have had one. And I think it is in play the UVXY. I don't think we're done. I think that there's just based on the chart patterns that I'm looking at, this interim benefit of the Dow 30, which is not the Dow Industrial, as it's called the Dow Industrial, this is the Dow 30, great mix. I think that's a problem. Just at this particular point, even though it's holding well, but you can't treat it as a uniform sector, it's not. It's a very diverse sector, probably the most sneeze. Here we go, sneeze, sneeze, sneeze. Excuse me, sneezer. And it always reminds me of late Dave White. He used to also have sneezes during the show. So as I'm looking at this, yes, this is in play. The UVXY, and I do have to apologize because it was there and I didn't go for it. Just because of the not quite knowing where to put stops in, and that's it. But it's worked out well if you actually got it. Next question I got was, and I need to get this right now. So let me just do this. I'll do this really quickly. So the Dow has still, even with us down 44 today, 32,089, and I think IBM's the one of those that's helping, hasn't taken out the 32,846 low of October, October the 6th. And as a result, it's fascinating because this is what I've been talking about, the divergences have actually turned out to become synchronized. So that, look, the even in the Dow futures continuous contract made a new low. It went underneath that low of October the 4th and the 6th, I think it was 4th and the 6th. So that was at 33,021. Today's low is 32,959. So it's accomplished a chunk. The stochastic is at 13%. The on balance volume is getting a little bit oversold but not enough yet to give me a decent turnaround. So it says, because you remember what I did with the Dow, I said the Dow, we've got a sell signal, but I can't go to sell mode until the nine period moving average crosses negative. And I think that's going to take time. And boy, it took about 11 sessions or something. So the same thing when I say to you, look, the NQ on Friday had flipped to a pink nine period exponential moving average, but the QQQ had not on Friday. Look, it had not. This week, and we've still got a day and a half to go, it's gone pink. And that, because it's a weekly chart, it would be really unusual to do it for just one week, maybe two weeks. But I'm watching this really closely because so far, the distance, the differential between the green and the nine period, the nine period moving average, the green line and the 14, just about to go pink at the end of the week, if it stays this way, says to me that eventually they're all aligned. Remember, out of all the indices, the Dow, the S&P, the IWM, the SMHs, and the QQQ, only the QQQ itself, the NDX100 Trading Vehicle in VSCO QQ Trust Series, did not go pink. And then it did. So I'm saying to you, I suspect that the Dow is going to test, and that's going to be a big thing for me. How does it test? Do we have a lousy session today, Thursday, and then a lousy session tomorrow, and then over the weekend, all this bad news, and then Monday, I remember I said there was a possibility we could do it Monday, this past Monday, if the futures didn't have a bounce, well they had a bounce, and they just negated that whole thing of a horrible, horrible Monday. But actually what happens is we're accumulating downside momentum, and that's really important to me. So that's the Dow. Then the S&P, the question came in, where are we in the notation? So you can see, we went to a trough E at 42.16.45, and that was on the 3rd of October, and then we had a really strong bounce, we drew into a peak A, and then a fractional B, and then just a slightly higher C and closed under that and said, whoa, be careful, this is going to be the dreaded H pattern where you arch over, and I'll just need to show new listeners, because I get messages all the time from people saying, wow, we thought we had one of your techniques down, the next day you introduce a whole new technique that we hadn't heard of before, so I just need to review this. I always look at three core patterns, straight up, straight down, cup formation, arch formation. You can mix them. Yes, one in three, where it goes red, because it's straight down, then it arches over at a peak A or a B, it fails and takes out that left side low, can go much lower. In the green, you get this inverted reverse Y pattern, if it takes out the left side high, it can go quite a bit higher. So what do we have here? We have the dreaded H, and for three days, here's the low of 42.16. This is now, so it was one day, two, three. This is the third day underneath that. That's really not a good sign. That just says that the downside momentum hasn't quite fulfilled itself. It might need just a little bit more, and you've taken out this key support level in the down channel, and the nine-period moving averages is weak. So now the question came in, what is the notation? I have to go to the high of that peak C and say, if that's a brand new down mode, this is A, but it has to be F slash A. I'll type it in here, and the reason I have the alternate count is because you want to know what if I'm wrong. That's all. It doesn't say, oh my god, F is terrible, A is fantastic, or the other way around. It just says, this is the notation, and then G slash B, and you can never get an H. So if it bounces and there's another low, that'll become C. Now the question always becomes, can you make a dreaded H and then have a major turn to the upside? And the answer is, it's happened, and it can happen if the technicals give you a good buy signal that goes to a buy mode, and the price goes back to at least an upside major resistance level. And I would say 42.41 is the nine-period exponential moving average, pink and very, very strongly down. And the black 40-period moving average price comes exactly with 200-period moving averages at 42.71. If there is a close in the next week, above 42.73, I think we have made a pretty decent rally, not the rally, but I'll be back in a moment. I hope I answered that question, and I'll be back, and we've got other questions to go, because I haven't finished the interview. We also have a limited call. 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 Kegstad's Tiger Forex report. Teddy Kegstad 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's 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 it 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. 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 4.00 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. At TFNN.com, then hit Watch Tiger TV. That's TFNN.com, then hit Watch Tiger TV. I'm looking at the question here. I go once a bit of time, but before I do look, look, he has that rectangle. Remember the rectangle? He has your midpoint blue line right in the middle here. So there are a couple of things I don't want to take time now to talk about. It's a pity if it was technical Friday, I would, but just too many questions coming in. The first question is IBRX, was it? IBRX. So I said I'd get to gold. I'll just mention the chart is right there. Somebody just mentioned gold is down 10 at 1964. My contention is being that gold is the instrument that is bought out of fear, geopolitical fear. The dollar is the currency of respect. It's the currency of recognition. And that means that the dollar is still the world's great currency at the moment. I don't know how long that's going to last. And that's why it's holding two separate things completely. And that's the reason why the GDX is down sharply, down 58 cents in 2018 and why we got out of the gold stock that we had. I just, I, the way this is more a reflection of fear, geopolitical fear, because if it was really the gold and gold production and all that stuff, oh man, you'd get, you know, Newmont mining, Newmont mining wouldn't be down from going from the 34 to 41 in just eight to nine sessions. And then coming down in the same number of sessions to 37, it would have stopped, gone to 41, pulled back to about 3950. And then it would have taken out the left side high, which is at 41 and even try to tackle the one that goes to September. It's just not doing that. And that's, you know, I've just chosen Newmont mining, but we could go to ASA, which is South African Gold Fund. This is not what I would expect. I mean, the weekly chart still looks horrible. So does the monthly and the daily chart went to a peak D way under the previous peak. Something's not quite right. That's what I'm saying. Pass is one that we had once we don't have it anymore. This is a silver stock. I mean, it looks terrible. Look at the weekly chart. Something is not good. Everything is not right in this market. Everything that you look at that is normal is abnormal, abnormal, abnormal, abnormal. Okay. So the question came in, IBRX, IBR, now I can go to the charts. IBRX, look at that move. So IBRX is whatever it is, immunity, bio or something. I can't read these things. It's getting a little harder. Maybe it's also age, but I think it's also the background, the little gray, dark gray background with black printing for Trace Station. Immunity, bio, ink. Yeah. So this is a fabulous move. So Dan said, talking, talking, okay. Yeah. I guess they had some kind of an approval or some, a re, a re-acknowledgement or something, but I don't really care. What I am looking at is this long wick, this is inverted chat, a very long Chapman wave Roman candle. This one here, let me just open it up for you so you can see what I'm talking about. You see this candle, see that long wick, you see the tiny little wick at the bottom, big body, which is more than half, half to more of the long wick at the top is inverted. Well, that says if we can hold, even for just a little longer at two, if we can hold above 1.98 for about another, let me go to the 120-minute chart. Can I, do I have it? I hope I have it. Yes. 120-minute chart. Okay. So that's already 120-minute chart. If we can hold just a little longer, it says, I give it to, now it's 10.34 a.m. in the morning, October the 26th. If this can hold, I'm going to go to the 10-minute chart because you do, you, you're doing this in today's, let me just I, B, R, X. Good I, I must say. Oh, look at the way it's walked the one-minute chart. Look at that. Peak A, B, C, D, still holding the 9 over the 14. Oh, if it can go just a little longer. So this is, it's all flat. So this is either A or B or it's B and C. I'm going to give you the benefit of the doubt, Mr. Yes. So the way I'm looking at it right now, if it even goes just another 35 minutes, it has to be more than 20 minutes, about 35 minutes above that level that I was looking at, which is one night, I'm just making it up 198. It could be within a penny or two. Then I think it's going to have a really good chance. Now I can go back to the chart, the daily chart. I think it has a really good chance to test yesterday's high and the high is too good. Hi, I must say. Dan, nice pick again. 222. I used to have a box number 222. The family had the box number 222. 2.22. And yeah, that's the way I would look at it. It should do that within two bars so that by tomorrow I should have a good chance of trying to hit the 2.22 area. It should go right towards it, right on it or just above it. That's the way it's looking at it. It just has to go a little longer. Oh, now somebody's listening to us. It's now a 205. Yeah, that's the power of T of an N. Okay. The other thing is, always look at the other side. The high that was made yesterday, which is 1.87. If that's taken out before it gets to the top, be careful because then it stalls. Then it just stalls. That's all that happens. All right. Okay. That's that. Next question came in Nat. This is Nat. It is a peak you want to know about Nat, which is Nordic American tanker shipping. I think he's had this for quite a while. This gives a fabulous divinity. Remember, this is a stock I spoke about for years. I've spoken about it. The guy, I can't remember, Norwegian guy. He sounds a little bit like the guy who does the Royal Caribbean cruise. Is that it? One of those cruise lines, and you hear him always talking about these ships. So way back, I remember, as it was moving up like this, and then it just started to come to, I wish I had it somewhere. I've got it in my files. And I've got the guy, the CEO saying, he was somewhere around here, and he said, he was talking to Jim Kramer, Jim, every quarter for 56 years, we've been paying a dividend and we've increased the dividend and all that. And it went from 30 something down to the most recent lows of $2.09. It's back in play. It's back in play and it's doing very well. And this is only a leg C to the upside. I spoke about this a few days ago when it was there. I keep this, remember the tapering methodology until you make a peak, this is called the floating letter. So that is still a C. I haven't called it a GSash C because everything about it is so strong, although on balance forms, really close to telling us that we could have a bit of a pullback, not a major cell, just a pullback. I like it. And this now is a leg C in the weekly chart. So that's a C right there. Okay. And it's a leg E in the E, or it could be even slash E slash C, but according to E for now, yeah, this is great. Nordic American tanker shipping looking great. Had a big move from 425, the 14 period moving average to 466 where it's at right now. Yeah, good. Next question came in and I'm going to, so this is not a question. I'm just going to do this because there's a stock that I followed periodically for years, never, ever had subscribers own it. And sometimes it looks fantastic and sometimes it doesn't. And I think it was TTWO. And it wasn't a question but earlier on, I'm sure that Tommy Henry was beautifully in his show. Yeah, he says it should be coming back down and it's at 136 and 134. It's a 200 period period daily report and 133. And it looks to me like it wants to come down to the 133 that I'll be back down. 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 O'Brien 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 O'Brien's Gold Report newsletter now at TFNN.com. Introducing Tom O'Brien's award-winning newsletter, Market Insights, your key to successful active trading. Tom O'Brien, renowned for his expertise in the financial markets, has designed Market Insights to be your daily guide to profitable trades. Tom publishes his daily Market Insights newsletter every market day before the market open, along with updates when warranted. Stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to your inbox. Whether you're a seasoned trader or just starting out, Market Insights provides the edge you need to navigate the markets with confidence. Ready to join the ranks of successful traders? Head over to TFNN.com and subscribe to Market Insights today. Don't miss out on this opportunity to supercharge your trading results. Market Insights comes with a 30-day money back guarantee for all new subscribers so you have nothing to risk. Don't miss out on this opportunity to revolutionize your trading game. Head over to TFNN.com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter, Market Insights firsthand. TFNN, educating investors. The Prospectus and Summary Prospectus contain this and other information about Direction Shares. To obtain a Prospectus or Summary Prospectus, please contact Direction Shares at 866-476-7523. The Prospectus or Summary Prospectus should be read carefully before investing. An investment in the funds is subject to risk, including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, Four Side Fund Services, LLC. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. So this is something else in the chapter way that you might want to know. I had a question here, Basil SH is only in C Weekly and A Monthly, is that right? So this is the SH is the one-to-one short, the spy. And Fletcher is asking about that and he is sure to be short quite a long time now. And let me explain something. As far as the notation is concerned, the monthly chart made a low in January of 2022, where the S&P made its high of 13.47. And then it ratted strongly peak A and pulls back and then leg B goes to peak B, then it pulls back, then it goes to a leg C and then a peak C. And that peak C is right there. And that was mid, it was October, a year ago, October of 2022, it went to 1771. And then it arched over. When it came back down, if it went instead of to 1347, it went to 1346, then this up arrow is totally negated by one penny. It means you have to start all over. So the question is, is this leg A? It's a gray A because it's under the previous peak C. And then now let me go through, I don't actually want to talk about this, because if it does happen, this is going to be really ugly. And I had just a quick message from someone say, why are you confused? You ain't seen nothing yet. I'm not confused at all. I don't know why you get the confused business. We are short. We're short the down, we're short the S&Hs, nothing there that's confusing, right? And remain short. So no, I'm looking at this and I'm saying, this is an arch formation. And to be a very successful arch formation, if it does not take out 1347, the next two, three bars, that'll be two, three months, but instead it starts to rise. But it's a gray A, which means you've got to keep counting as if that peak C right there is still active, because there would have been a C minus if we went to 1347. In other words, the S&H, the inversion of the spy. Let me just show you the spy right here. The spy monthly chart went to 498.98. But then this recent rally went to the 450s, and now it's pulling back. So there's always a difference. And the difference one, the difference is kind of interesting, because it means that in the inversion of the same chart, it went to test the low of January, but it didn't test the high. So there's a difference. That's why I'm saying that sometimes when I get the chamber of notation, I've had it where I've got a major cell signal, and yet the diamonds went to the D and the Dow. Usually it's the Dow that does go to a D, but I remember one incident where it was like a peak C1, C2, where it just missed it, acted like a D, but I used the diamonds as the inflection point to reverse course of the downside. So in this particular instance, 1347 means that you can go, I'll expand this as you know what I'm talking about. It's the right side chart, which is always the monthly chart. So that just says to me that, and not only that, the reason why it just fascinates us, and for those of us that have done this just forever, I mean, when I say I've done at least a half a million charts, that's probably exaggerating. It's probably more than three-quarters of a million charts. Look, look at this. There's your chaplain wave. I mean, I couldn't make this up. This is right here. You're seeing it. There's the high. There's the plum line, and it comes down and exactly the same number of bars to the upside. It comes down and retest at 13.47, the exact price. But wait a minute. Look where the mag D is here, how strong it is. And look at the stochastic. It's still stronger than it was over there back into January of 2022. So there's a positive divergence in the inflection. This is the mirror image of the spine, not exactly a mirror image, but close to a mirror image. And that's the reason why I said, uh-oh. I'm going to look at this very carefully. Why? Because this can go from an arch. Let me just make this narrow. It can go from the arch pattern to a cup pattern. And that cup pattern says each high on the left side, as it takes it out, if it gets stronger technically, you can go into this particular pair. I don't even want to look at this. I don't believe this is going to happen. I'm not the big pessimist. I know people are talking about the end of the world. I just do not see the end of the world yet. The fact that the Dow is all of a sudden seeing key components having really good moves to the upside means that you've mediated some of the deficit that you'd have if triple M plunged because of earnings disappointment. Now it's saved the day at least for a little while. It gives it a bit of a cushion. So that's the reason why. So just to be clear, I would have to see the SH close decisively above 17.71, the January high of what is it called again? I'll never remember what it's called. It's called the Prociest Trust Short S&P 500. That's the full name there. But I don't think that's going to happen. I think we're going to get a reversal at a peak A sometime within the next month or so. All right. I hope I got that out of the way. But that was really important. I'm pleased I did that because at 13.47, when we went to 13.46, we would have been correct. That would be a gray A. Why gray? Because the stochastic is still only at 12%. The magnum is good and the ninth-gen moving average is still under the 14. So this way it's called the gray A only because it's under that peak C. But you haven't started a brand new move to the upside. It's the same move that started in January. All right. We've got that out the way. Next thing I want to do. Okay. Now let's go through these things. So I looked at gold and what I was saying is, this is now down seven. But looking at the way gold is holding so well here. So if you're holding gold, I think that's a better way to go. Just at this particular moment, then the actual, say the GDX, not that GDX can't actually start to move higher, but at this particular point, I think it's gold itself. It's not reflective of the monopoly of uses that really turn gold and the gold miners into flourishing a business at this point. I think this could be momentary because what happens if everything just stalls there and it goes into a stalemate and very much like, although the Israelis is hardly likely to get a stalemate, but like the Ukrainian war. So I'm just looking at this and I think that just at the moment, I'm not, I don't feel that I need to tell subscribers we've got to get into the gold stocks just yet. There was a big move in gold, I mean, 25, 62 to 30 in the GDX and now it's given back. It hasn't given back half. Let me just do a little firm stuff here. Here we go. Fib, fib, fib price. I'll just grab this high. I'll go to this low right here. Just the best way to do it. So yeah, we're at the 61.8 right as we speak. It went under it, but right as we speak, that's where we are. Let's see what happens there. But the way that the nine-period moving average in the weekly and the MACD just deflecting lower and the histograms improving if the price has enclosed positive and the stochastic silver 36, this says to me, maybe, maybe just not yet in the GDX. Now look at this. The Dow is up 21. This one, I'm saying this rotational buying, there are buyers and those buyers are going to have to be disappointed at some point and that's when the VIX really spirals to the upside. So I don't think we're done, but it's not an easy process. Stop being a cash downside. Just being a drip, drip, drip. Lower highs. Lower highs, lower highs, lower lows. 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. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at tfnn.com. When you subscribe, you'll get a weekly report from veteran day trader Larry Pezzavento 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 24-7 newsletter today. tfnn.com. Educating investors. 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 tigeresses for just $1 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'Brien 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 tigers and tigeresses as they share trading ideas, news analysis, and discuss the market action all trading day, even at night and on the weekends. The Tiger's Den at Discord is accessible on mobile or tablets as well, so it's always at your reach. To sign up today and become a part of this educational community of traders, 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. Wow, so I just got a bunch of the questions. So let me just do this. So I've learned over the year over thousands of charts that when I get to a G on the upside or a G on the downside, at least initially I have a G slash whatever it is. It's usually a G slash C. In this case, it's a G slash B in the S and P. That's answered for the question. I'm just ready for anything. It's at a G. G's where it often turns, but very often it will turn and then retest and get to that D, or in this case it'll be a C. But look at the G that made in the weekly chart of the S and P. Okay, that was one question. Next question was, I forgot to say, where would you add to NAT? It's so difficult. For instance, we have UEC and I wanted to add to it for subscribers because it looks so good. Uranium energy core. We've had a really great profits. We've taken a little bits off, but I really wanted to add because it's acting and yet it's very difficult because it's the same sort of thing. So NAT is even stronger to the upside. So what I would do is because I'm calling it C, but it could be an alternate count and the on balance problem is a little bit overboard. If you want to trade, I know that you do sometimes trade, you like the longer term positions. I don't want to give you something that's going to give you a bit of a loss with not that much of a gain in this particular situation because you've had a good gain. So don't aggravate it, but what I will say is if in leg C the next move down can get to the 457 level, you can grab some there with a very tight stop and hopefully run it up to leg D in the daily chart. The week is still only in leg C. So or you could spread it and take a little nibble here at 467 knowing people back and then add to it. But don't mess up your longer term position when it's already at this recovery high. It's actually a multi-year high as we speak. Next question is SEO and SEO. This is a good question This is the inversion of the approach as ultra short oil. I just be real careful with the whole thing in the middle east. Oil is kind of in play even though it's not actually left well. I'd be careful. That is a high list. Hey, this is a battle chapter. Check up hopefully for my dated newsletter and I will see you tomorrow. Have a great rest of the day. Take care for Steve. Hey, folks.