 Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now Larry Pezzavento. Okay, folks looking good. Billy Ray feeling good, Lewis. This is a very active day here in the markets. Folks, I wanted to go through what happened yesterday because I think a day before yesterday, I was gone yesterday. I had to do some family stuff. But if you'll notice, this was our market here on Tuesday. When we got up to that, we went higher than our, remember our 13,960 level. That was the ABCD. We went up to 13,976 and that's how we did that. And then the market started to back off. It had one small 382 retracement and dropped 300 points, folks, yesterday into the exact 382. And at that point, we were short the S&P and I said we should be covering that down here at this level of 4129 and we did. And we sold it back on the 382 retracement at 4157 and we are still short. Now, something really important is possibly happening in the market today. And I want to bring it to your attention. I'm not sure the importance of it, but if you're going to believe in Gartley patterns and things like that, you could take a look at the Dow Jones industrial average because as you can see here, we have made a perfect ABCD at the 61% retracement. We've rallied about 80 to 100 points off that bottom so far. This was also brought to our attention by our good friends over there across the pond there in London. And I want to show you what the four hour chart looks like on that because you'll be seeing the same type of pattern that is lining up there that we just saw on the daily. Now, remember, these patterns do fail, but let's get back to the point at hand, okay? Because I watch markets interday because they how they react interday is how they react daily. If you remember on that NASDAQ, I pointed out the fact that we were going to have what we thought would be a pretty good correction to the downside. So here is what has happened so far. Now, this is the increase of about 30 points. In the NASDAQ on this weekly chart, taking us up almost, you'll see the level right in here almost at 14,000. You can see there's the number written right there at 14,000. So what I do and I'm not trading this folks, I trade the S&P. I don't trade the NASDAQ for that reason. Things jump around quite a bit. So here's where we are in the NASDAQ today. Now, I want to, the reason why I'm going to go through this, I had a discussion from somebody at the TFN and listener actually called me today and wanted to argue with me about something that I really didn't know anything about, but it just didn't make any sense. And I'll go through that in just a minute. Now, this is the NASDAQ. You can see here's the after the close. This is the gap up that started the whole thing in the NASDAQ futures, okay? Now, you can see the NASDAQ futures jumped up quite a bit and went sideways for quite a bit, okay? All right. Now, let's take a look at what happened. Let's take a look what happened with the Nvidia, the stock itself, okay? This is where I had the problem because the guy said, well, there was, there was selling all the way up there. And I said, whoa, I said just a minute, boys and girls. I can tell you one thing. The dudes that are in this are not stupid enough to be scale selling all this way up here. To me, this is all bids. In other words, they're bidding it from 285, 290, 295, 305, 310, 315, all the way up to the top. And then it starts to trade up in here. But I, you know, I'm not a stock guy. So the first person I should have called was Basil because I know he knows the answer to that. And I'm sure Tom O'Brien does too, but I don't. I just don't think there's anybody that's out there that's going to be, I had to have scale selling into something like that. I mean, that doesn't make any sense, but you can see what's happened. And then when you listen to the pundits on Bloomberg and TFNN and Bloomberg and CNBC, you know, this is, this is the Messiah. This is the, this is the, this is the thing that's going to take us to the promised land. And maybe it is. Remember Apple did that with iPhone. So we've got to pay very, very close attention to that because I am not trading this. I am just watching this. I'm watching the market in the constant context of what the market is doing as, as it's moving around. Now, if you look at the Dow Jones, you can see that we've just been coming down for quite a while and we did make a pattern here of a Gartley pattern, of course. Now remember, there's four, four parts of this market. We have the S and P. We have the Dow Jones. We have the Nasdaq and we have the Russell. And just look at the Russell folks. Here's where we were yesterday with the Russell. I want to get this up here and show you where we were. And if you'll notice the Russell was making the, excuse me, this is Tuesday. This is because I was gone yesterday. There's where we were exactly at the 3A2. So what we want to do now is to see if the Russell is doing what we think it's going to be doing. In other words, be rallying quite a bit. And unfortunately, that is not what's happening. So this is only a few stocks that are doing this. So, you know, that's what you have to be really super careful about. There you can see we had to sell off. And we've, this is recently, just a few minutes ago, I marked that up to see where we are. So that's what I'm looking at. Now, I'm not looking right now what the Nasdaq is doing, but by looking at that same pattern that we looked at the other day, I'm assuming that it's going to be doing something like this. And this is the one I just posted before to show you that this is much easier to trade than the NVIDIA. But you can see we have a legitimate A, B, C, D, and where does it measure to? 14,000. But remember, our original premise was it was not going to get any higher than 13,960. Well, we're 40 points higher. Boys and girls, 40 points higher in something that's trading at 13,960 when one of those stocks went 27%. Now, 27% on a $5 stock is a couple of bucks, right? 27% on a $300 stock is almost $100. I mean, that's a lot of money. And when it's price weighted like it is, you can see why this thing is going crazy. I'm surprised that the, well, the Nasdaq's up about 200, I think, but I'm surprised that the S&P's not up 80 or something like that. And the only high, it's only went right up to just a little above the 382. I haven't checked it recently, but this is why it's such a really critical day as we look at this because it's super important because these indexes are highly sensitive to the news that's going on. And one of the things in the news, of course, of great importance is whether this debt ceiling thing is going to be changed and anybody that thinks that we're going to default is not being, we might default for two weeks, but we're not going to default forever. I mean, that would be the end of it if it did that. So let's take a break here. 877-927-6648 keep those cards and letters coming in and we'll be right back. 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 bond 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 at number two for the year, an amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his Mastering Probability Newsletter. Steve's award winning newsletter, Mastering Probability is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter, Mastering Probability and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30 day money back guarantee. So you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 days risk-free today. TFNN Educating Investors. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights is published every morning when the market's open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights today and try all of our products and newsletters 30 days risk-free with our Money Back Guarantee at TFNN.com. TFNN Educating Investors. Free at 1-877-927-6648. Internationally at 727-873-7618. Okay, folks, we're back and I posted a chart here from where we were on Tuesday for the 382 retracement in the silver at 2292. And I said on our video last night that I sent out we want to be a buyer of silver at 2292, risking 10 cents. And we bought it at 2292 and it rallied all the way up to 2320, almost $2,000. And then it came back and made a new low at 2391. And I said when I put the trade on and sent this corresponding video out is that if the market gets back to your breakeven point after making that kind of money, you don't want to take the risk. And the reason for that is if it gave you that much, why didn't it continue? That was telling you that possibility that that was not the bottom and that's has been the case. So instead of making money, you broke even. Well, I'll take a lot of breakeven, folks, because it's not how much money you make. It's how much money you don't lose. We had two other trades today that didn't work out. We lost 33 pips in the Euro, which was a little over $300. And the one that was the most surprising to me is that we bought July hogs and we were in the July hogs a total of maybe four minutes because it gap down, stopped, filled us and then really gap down down over 300 points. We have not seen a 300 point move down in hogs in a long time. It was a completed pattern and it certainly completed us, but we did take a did take a loss in that. But of course we were protected a little bit because we were short to stock indices yesterday and then again today. So they acted really nicely. And we had, of course, you know, exited the long bond position and suggested they were going to go a lot lower. There was another perfect example of when you get stopped out of a long position, just reverse because it's probably going to go a lot lower and then the rating service came out and reduced the rating and put a little asterisk on it, maybe caution for a treasury bond or treasury. I don't know who sits there in those offices and makes ideas like that go on. I mean, that that to me is just absolutely insane to think that the US government is not going to pay their bills. The US government has lots of assets, folks. I mean, stop and think of, you know, these giant states that we have like Texas, Alaska, California and all the stuff that government land that's on New York. I mean, Florida. I mean, there's all kinds of assets that we have. Fort Knox. I mean, there's a lot of stuff out there. So just because we overspend doesn't mean we were not going to pay our bills and in 116 years, we've raised the debt ceiling what 95 times? Well, it's a game. They're playing folks. I don't like that game, but that's the way it's played. So let's move on and talk about one other one. But that the chart, the chart in the. Want to get the Dow Jones up here one more time here today because this was today before we got down to the DeGardley pattern hold on that was completed. You'll see that the rally today when we were moving earlier went right up to this level and then we went down and dropped another several hundred points down to fulfill the Gardley pattern down there at that 20 30 32,700. So that's had a pretty, pretty big move to that ounce and I haven't checked recently, you know what's been going on, but that's something that we're really watching. We really have something in our in our sights here that we're really excited about that. Another reason that's another reason to why I raised the stop in the silver back to break even because we still have this potential here. We see this bearish market that three eight twos all the time in the gold. Now the ABCD's on these on the daily takes you down to 1905 to 1915. Now that is only 35. Yeah, $39 away from where we are right now. So we could very easily be there very quickly. Well, this one work. I don't know. All I'm doing is I'm looking at the numbers to see if they're going to line up to give me a place where I can actually get in and not having to risk very much, just like I'm trying to do in the S&P and the and the hogs. I mean, the hogs lost lost a penny, you know, 400 bucks and we lost 350 in the in the in the Euro. It looked like it was going to hold. It actually did. And then when the news came out of jobs report or whatever it was, boom, then that trade was over. And this was the key here is because when the US dollar index was sitting there on Tuesday, like we were, and this is how that trade got set up, you'll see that we were right here at this number at that 63. I believe I think that's the number wasn't at 163 163 08 and then boom, this thing just took off all the way up here and that's why you had to stop in, you move to the next one and that's all you can do. No, you mean they're here and they're there. You get just got to stand aside if they're not working. There's another market out there that has been under a great deal of pressure is holding up relatively well, given all the stuff that's going on today. I haven't checked the price since early this morning, but it has been holding the 360 a pound and that is the copper copper setting right here. I don't know what the price is right now, but the it's right around that 360 level of where the copper is. Let's just see where the copper is and I can tell you if in fact I can. Wow. I don't even I don't even have copper listed on my thing here. Shut the front door and raise the rent. I have to get that put in there. I haven't traded it in so long and we are not looking at it. So I'm not going to worry too much about it. So that's it. Let's move on here to Bob. We got hogs down 300 and 60 points in the July and 200 points in the other. Oh my goodness. This is really a big day over here in the old meat markets for sure. And let's move on here to the next one here. I wish would someone would someone let me know I'd like to know if in fact I'll go into the Tiger chat room. Can someone give me the last price of of the of copper where is July copper trading can someone give me a 10 for that if it's 359 or higher is all I want to know if if in fact that's doing it because if not I'll get I'll get connected here after the after the break and I'll put the copper into the room to see if we can get that done. So I'm not going to worry too much about it. So anyway we're going to have Jeff huge coming up here in just a little bit and he's been pretty pretty much spot on on this market by the way folks the only person I know that was long in video and I don't know a lot of people in stocks but was Todd Gordon of trading analysis. He was long that stock and he was actually put a video out saying he was looking for prices to go somewhere above 400 and my gosh they hit 400 399 today. So I didn't think he thought there was going to do it in one day but it certainly moved in the right direction. So that's what we're paying attention to here this morning and when we get back from our break here which will be coming shortly we're going to have Jeff huge of Alpha Insights as our guest and he'll be joining us at the 230 show as well as the 130 show. So stay tuned for Jeff huge and we'll be right back. 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 X. A. U. H. U. I. G. D. X. The dollar bonds the South African Rand as well as twenty five different mining equities with specific buy sell recommendations. The gold report. 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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 Okay, we're back folks and we have Jeff huge of Alpha Insights on our line today. Jeff, how are you doing today? Hey, I'm great Larry. Thanks for having me on the show today. It's my pleasure and I have a question and someone called me from one of the listeners and was arguing with me about what was going on with NVIDIA and the stock went it was trading in around 290 or something like that I believe when the earnings came out and then it shot up to 394 and he was telling me that there were people selling all the way up and I said, whoa, I said wait a minute I said the boys on Wall Street are not quite that naive I think those are bids in other words yeah, there'll be a trade in between those things but to think someone's going to sell every dollar up. Am I wrong on that or because I'm not a stock trader? There's a seller right there. They don't create the stock on a midair so in some respects you can't argue with what he has to say. There's somebody selling the stock but you know if you take a look at the volume on this thing 118 million shares that is enormous volume for this stock. I mean for any stock, right? And I would say that this is you know it's indicative of something of a blowoff top, okay? The stock is up right now like 27% just off of its all-time high of 394. Now, you know I heard some people saying that maybe the stock can go to 500. I don't know maybe it can. You know I think what's happening in AI is just it's a narrative that's a lot of hype. And one thing that people should know is that all of Nvidia's chips are manufactured by TSMC in Taiwan and all of those fabs are wired for demolition just in case the Chinese attack. So if the Chinese were to invade Taiwan they'll blow up all of the semiconductor manufacturing fabs and that's the end of Nvidia. Could you repeat what you just said to me about you mean they actually have these things set up on a timer or something in case they get attacked or something and they were already they're already wired for demolition. So if in fact the Chinese invade the only reason that they want to invade Taiwan other than their nationalistic views is they want access to that semiconductor technology and the production facilities that manufacture over 70% of the world's semiconductor production and 90% of the world's nanotechnology and high technology advanced AI chips are manufactured in Taiwan by Taiwan semiconductor and so those fabs are already you know the US has coordinated with them to destroy the fabs and destroy all the intellectual property so that China can't get it. Holy moly guacamole that's just absolutely hold on Jeff I'm getting a call in from my SEAL team unit yes yes I could be ready at any time okay let's talk about yields up and S&P down what are we looking at here? Well this is a relationship that's been in place for a year and a half or more going back to at least December of 2021 we've seen period where that when you know tenure yield to bottomed in our rallying what happens is the S&P 500 reverses and trends down we saw five separate separate occasions where we saw kind of a cyclical rally in yields and a pullback and you know a cyclical decline in stocks and then you know a check back rally and then the same thing over again it's actually to the point now where we've seen what appears to be you know a technical bottom in tenure Treasury yield I see a small degree inverted head and shoulders of base formation that is broken out above the neckline and it looks poised to rally to new cycle highs and my suspicion is that if and your Treasury yields rally to new cycle highs the S&P will sell off aggressively there's an inverse relationship between the two that's absolutely for sure now you're also we're having a big move in the US dollar today we've violated the S&P 61% retracement easily last night and now we're we're moving up towards the 786 and your chart is suggesting is the dollar goes up the S&P goes down well that's what's been the loose inverse relation here as well and we saw it's about January of 2022 we saw four occasions where the dollar made these these separate indicative cycle pushes higher which resulted in the S&P trading lower in kind of a very high correlation factor we got to that October low the dollar peaked just ahead of that and since that time as the market has been rallying the dollar has been selling off in conjunction again with a very you know close correlation we saw the dollar rally back into an interim high as we saw the banks failing and and the equity market selling off into the March lows and then the opposite is current we've seen a rally back in the dollar and or I'm sorry a selloff in the dollar and a rally back in stocks and here what we've seen most recently as a rally in the dollar that is broken out above the downtrend and that's never yet to do yeah and so since that time we started to see kind of a failing in the S&P with the exception of those top seven you know Nasdaq stocks that are kind of holding the indexes up the average stocks actually down today people are looking at NVIDIA making new highs and the Nasdaq making a new recovery high that is unconfirmed by the dower the the S&P at this point and I'll tell you that the equal weight S&P is actually down today. Well Jeff I've got it I've got a question here I'm not I'm not questioning your veracity or anything like that but how is it did you know that the Taiwan TSMC have these things triggered to blow up in case they're attacked by China have they announced that or how do you know that it is public knowledge at this point but I wrote about it in my last newsletter I had dinner with a certain electric vehicle technology who had recently gone to Taiwan to tour the TSMC facilities and they showed him exactly was going so he he verified what I had already read about from his first-hand knowledge so that's how I know about it yeah well I'll tell you that's why I have Claymore minds all around my house here that way never be bothered by burgers it's I'll tell you got some of you've got some of the most interesting information that's that's out there so I'm really happy to have you I as a guest now the next one we're going to take a look at here is the NASDAQ internal weakness other than the NVIDIA tell you when I saw that chart last night it was late because I didn't get back until late I saw that the stock was up 27% and I said that's a $300 stock and I said I couldn't I don't think I've ever seen a move that big is that is that historically one of the largest moves we've we've seen or I don't want to price percent no no I mean we've seen stocks double in a day but yeah but not 300 dollars and no oh yeah in terms of handles it might be I don't I don't know yeah wow but yeah I mean the chart that we're showing here is showing that the NASDAQ composite itself has been exhibiting internal weakness for some time now you know last time I was on your show I showed a a chart of non- confirmations between the NASDAQ 100 and all the broad indexes right and and that's an inherently bearish condition when when you see these these negative divergences between the broad market and you know a narrow market like NASDAQ 100 here we're seeing the same thing internally with the cumulative advanced decline line failing to make new highs to confirm the NASDAQ's new high and and certainly net new highs are also failing to confirm as well so that internal weakness coupled with that broad intramarket non-confirmation is very bearish that if you want to be successful at training we'll be right back with Jeff Huge Alpha Insights folks stay tuned for 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 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 tf n 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 found a tf n n 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 tf n .com tf n educating investors whether you think the biotech bull has room to run or has run its course trade L.A.B.U. or L.A.B.D. directions daily S.M.P. biotech three times bull and bear ETFs visit direction investments .com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about prospectus please contact direction shares at 866 476 75 23 the prospectus or summary prospectus should be read carefully before investing and 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 foresight fund services LLC this program is brought to you by Vista Gold traded on the NYS the American and TSX under the symbol VGZ Okay, we're back folks we're speaking with Jeff huge of alpha insights and that was then and this is now we're showing a chart of the NASDAQ that certainly look similar Yeah, you know Larry what I decided to do and I really use analogs but I looked at the the the actually it says weekly but it's daily daily closing data of the 2000 the I should I should say really time frame really Jan 99 August 2000 time frame and I compared that to the March 2020 to May 2023 period in the NASDAQ 100 today so you know I look back to the tech bubble and comparing it today and what we saw was that we had about a 150 percent advance off the 1998 low into the March 2000 high back in the tech bubble and from that point we saw you know a five-wave decline and a 61.8 percent retracement of that five-wave decline that carried the index from its loads of around 3000 back to around 4000 in the NASDAQ this is back in that that tech bubble period today now we saw helped yeah I remember the dot com bubble right and so today we're seeing 150 percent rally in the NASDAQ off the COVID crisis lows into five-cycle peak so back then it was the wave three-cycle peak now we hit a higher degree of trend wave five and we dropped in five-waves down an impulsive decline and we've since rallied back in three waves and we've so far retraced a little more than 50 percent and we're suggesting at this point that hey we don't know whether this thing is going to carry the 61.8 percent but what we can tell you is that you know the recovery is kind of in line with what we saw back during the dot com crash and the initial recovery well we all know what followed in August of 2000 you know wave two peak in the NASDAQ 100 and then it continued to crash down over 80 percent today we've seen this 50 percent recovery it might carry to a 61.8 retracement but that's only you know less than what three and a half percent from where we're at today and so you know our suspicion is you know nobody should be committing three and a half percent especially when we think we're facing the next wave down which will be wave three down and it could be an epic collapse we think you know the plunge in the NASDAQ going forward is is the real trade and and that trade is one where you want to avoid being long at this point well that's really long you're going to be wrong I can remember the dot com bubble because of the fact that these have their sales force and if this if the phone rang the stock would jump 20% they didn't even have to answer the phone I mean it was it was incredible I mean I never seen well I always said I said they'll never see anything like that in my lifetime and up until today with NVIDIA we really haven't so it's still a little bit of a little bit of a mystery to me now the next one we want to be talking about I'll get this up here I really enjoy your charts by the way Jeff you do a really super job okay now this is this is the the setup that we're looking at in the S&P yeah and you know we've showed this chart before but we didn't update our count a little bit here and that's just simply because you know we took out that February high ever so slightly we'd yet to close above that February high but but the simple fact that price on an intraday basis made a new recovery high moves us to our top alternate which is that we're in a double recovery trade and so you know we now are looking at the October low as being the bottom of primary wave one down and the recovery into now the May 19 high is is primary wave two's top in a double zigzag now we do leave a little bit of room for additional upside there's a month on recycle window that carries till about June third and it's possible if things get a little crazy that carry all the way to the 61.8 percent retracement that comes in at about 43 12 it's also possible that this gap resistance you know may contain the advanced even if we make another pushup to make a slight new high but it doesn't really matter the next big move directionally is to the downside and once we break below 4039 on the S&P it will confirm the primary wave three down is operative and we expect to carry prices in the index down to a minimum of S&P 27 50 which is a you know orders of magnitude lower basically so it is an extremely bearish setup we've talked about this a number of times and you know the advice to your listeners is simply this you know be patient minimize net equity exposure maximize cash reserves right now because the best thing you can do is collect and treasury bills are five and a quarter percent to avoid taking these risks I heard to today on Bloomberg that the the I think was the one week bills were at 8% 7.99% t-bills for the structure I just they did a big option on one month bills or maybe there were 21 day and that was six and a half percent yesterday so yeah there there's definitely some concern about the debt default and and I don't really think that's going to be legitimate but you know I have it yeah I don't understand how anybody could think that the government would mean I can understand they might go be late in making payments I come that way every month but well not quite but anyway the thing that you got to remember is in 116 years we've increased the the debt 95 times and so this not unusual but they don't realize that there's a lot of assets that the that the United States has that you know we still have their gold on the books is it $32 an ounce you know so that's not counting the stuff in Alaska and California and all these great states but they're spending it too fast I think so that's it listen would you be able to join us on the 1230 show I mean I love these charts and I know that people would like to miss the show today we'll catch it at the next break at the at an hour would you be able to come back and join us then I will and I just want to mention that you know we will be publishing issue number 22 of huge insights the big picture on Saturday June 3rd so if you haven't signed up to to our newsletter subscription please consider doing that at huge insights that sub stack dot com it's worth every penny I think it's what $12 a month or something like that I mean it's so yeah we've got a free version where you get the first four four pages of the newsletter for free but if you want the full Monty we publish a 20 page paper that's got about 25 to 30 very informative charts and our full market forecast and positioning recommendations and and honestly paid subscribers get a lot extra perks they get a weekly subscription to our idea generator lab publication which details our top actionable trade idea every Wednesday as well as updated market commentary and we also do some you know periodic special reports and quarterly video content that we provide to our paid subscribers as well so we think there's a lot of value there and you know we're we're here to help we'd like to get as many people on our subscription run as possible because we think what we have to say is important and we want to you know help people preserve capital and profit during this next leg of the bear market down. Well your chart certainly help explain it listen thanks for joining us Jeff and we'll see you again at two thirty Jeff huge of alpha of science 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 thirty 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 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 guaranteed 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 the Tiger's Day available to all Tigers and Tiger's for just $1 for the year there's no cash or at 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 Don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch Tiger TV that's tfnn.com then hit watch Tiger TV Okay folks I posted the the chart of the E-mini NASDAQ showing you that the on this 15-minute chart that we had some resistance here at 14,000 so far the high has been 14,004 just checked in a minute ago that was trading at 13,999 so it's up into this ball park somewhere very similar to what we're looking at I am still concerned about this movement that we've seen in in video I'm going to find out from a specialist at the NASDAQ how that works because that doesn't make any sense when the stock jumps like that in the commodity markets what happens is the bids come out and people are bidding for it and it's showing their bidding bidding bidding the prices are going half but there are no offers out there no one selling it that's why the bids keep going up but there's no selling and I think that's what happens why would anybody be dumb enough to sell get off the soapbox lorry and get on to the next one let's show you how what wonderful thing stop losses are for folks this is the one that I absolutely loved the most of anything today and that was in our hogs we've been waiting to get filled for three days I want to get this up here to let you show why you use stops and why that'll keep you in the promised land look at our beautiful 1.618 here at 79 10 folks the number of minutes that we were in between 79 10 and 78 10 can be counted in less than five five minutes I believe is the the amount of time we were in it I saw the the the the fill come in and I was it couldn't have been more than five minutes when the when the stop was it and I said oh and now hogs are down 15 $1,500 today folks and hogs that's a huge break I mean they must be giving pork away over in China because nobody's buying it here that's for sure so let's take a break here we'll be right back 877 927 6648