 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 Hi everyone, Basil Chapman on this Tuesday the 12th of April and we're looking at the Dow up 236 points at 34,543. One of the things we need to look at here. Remember this pattern is a pattern that I talk about a lot. I nicknamed it the falling axis. It's really an expanding declining cone formation. A lot of words, but that basically explains what happens. So look the Dow made a peak D in the Chapman methodology. Boys identify a buy signal that can go to a buy mode to making at least four higher peaks and it's at that peak D that other things can happen. But sometimes from the peak D you get a pullback and some of the technicals deteriorate. For instance the MACD when negative is stochastic when way down it's at 30%. I mean this is really weak and yet the 9 is still above the 14 period exponential moving average is still hugging the 200 period exponential moving average. So my rule of thumb is that if it starts to form a base after you've got this expanding I've got this blue line here, declining line, lower highs, much lower lows. If it starts to form a turnaround base and able to break above that trend line, the upper trend line, you can have a one-to-one quick move in the same parallel motion, the same degrees, same number of bars to the upside to retest that previous high. So if that's the case this is a really important moment. It's struggling. The Dow was acting very weak. I had spoken about this just in the update. I did it at 10 a.m. There's the 10-minute chart. It made this beautiful ball formation. The ball formation invariably says that if you continue to move high at some point you can spike. You either stall or spike right through the left side high. That was the high that was made yesterday at 310, 10 past 3 in the afternoon at 44.39.25. Well the low today so far is 43.82. We're talking about a huge decline. And then it starts a very steady cup formation, higher highs and higher lows, sort of stalls. The 200 period moving average which wasn't even in the picture suddenly becomes in the picture at 8 o'clock and we're getting closer and closer. Then the news comes out about the inflation being within the parameters that people thought it would be. So that turned into a very positive for the S&P. And it spiked higher. It went to a peak F, pulls back. I call this next one a G slash B alternate count. My thinking here is if you had to measure this left side high vertically right there to this right side high the MACD is still very good. Stochastic is kind of weak and the on balance volume did go higher. So it says at this particular level there could be an alternate count and that a third count is going to be really important because if the green line period exponential moving average which is still very positive above the black 14 is at 44.47 if that gets taken out 44.41 will be the next test of support. But if in the next four I'd say three but I'm going to give it four candles there is a push above the high of the day of 44.66.77 that's going to suggest that I did not like the weakness yesterday when the Dow just got pummeled when it was holding so well it even had a move in the futures to up to a positive at about eight o'clock yesterday before it took that dive. So and all day the selling pressure was on. I don't like that. And that applies also to the pattern that I'm looking at. I'm going to be talking about these in detail tomorrow when I do my webinar on is it possible in 2022 with all the bad news out and even the potential talk of Third World War. Can we even be looking at new all-time highs. What are the parameters. What will be looking at. How is it even possible. And I'll talk about why it could be possible. Most importantly I did not like that red candle in this particular pattern. So to to alleviate the weakness of this particular candle Monday's candle. I need to see doesn't have to close but it needs to get above the high of yesterday which is thirty five thirty four thousand seven hundred and what are we looking at. Did I just move that by mistake. Yes I did. Thirty four thousand seven hundred one today's highs thirty four thousand six six nine. So we kind of under it. Thirty points or more under it. So we need to be pushing higher by the end of the day. It's going to be a bit of a struggle. We'll talk about that. OK. Now there's a ton to talk about. Let's just go to the S&P. The S&P actually had a much weaker peak D at forty six thirty seven point thirty. That was around about the twenty seven twenty eighth of of March. And then it comes tumbling down. Truff A. Truff B. We're in a leg C. Maybe a trough. See this morning with this two hundred period moving average acting as beautiful support so far. It's did go above yesterday's high bar. So this is acting. The chart of the way down is much weaker than the Dow. The action that we've seen today so far is better than the Dow even though it's up point one eight. It is up one point just over one percent. That was only up point six four percent. So this is a good start. And I want to see the QQQ the NDX one hundred up one point eight three percent at three forty seven twenty three up six thirty three. I don't like this. This big B has all the characteristics of a D. It's just what a big pullback to the NDX one hundred remains the weakest of the indices based on where it was at the high of four eight point seventy one. Back in was a November. I think it was in December. And now we're looking at when let me just double check. I don't want to just talk out of two one two three. I should know this by memory. I've done it so many times now. Wasn't that the January high. Oh that's right. This was November November four eight point seventy one head and shoulders pattern my least favorite pattern on the twenty second of November. I remember then it was a retest very close to it but it failed. Yeah. That's what it was. So yeah this is acting very poorly the IWM the Russell two thousand. Fabulous move up to two point two eight percent today up four point forty six and two or one point oh seven. But that has a peak D. Right on the two hundred three moving average. All of these techniques I'm going to be talking about in my webinar tomorrow. But it's not just the techniques that I'm going to be doing. I'm going to be talking about the chart formations. That could be in. It could be. The. Patterns to do. Coming up over the pattern was to be more than today to be the current patterns that we're looking for over the next two to three months. That's going to be really important. What are we looking at. Are we looking at the arch formation. Big D failures. Are we looking at the reverse Y pattern which says hey wait a minute. This is very good action because it's taken out the left side high. And what is that. That is this pattern right here. So we're looking at either straight line moves up or down up or down. We're looking at the H pattern where you take out the left side low and you keep going lower. Or you're talking about the rallies up pull back then test the left side height and break above it. What are we looking at. Oh but wait a minute. There's the other pattern. And that is the rectangle formation. We have seen so many of those. I'm going to go through some of them this morning. So look at this. Yes basically a rectangle. Basically a rectangle pattern in the IWM. Chapped between the two 12 inch area. And the one that's even quarter to one nineties for now. And there's that PT. So the lower case H goes to a lower case M. And then what is there. It makes an even larger M. I'll be back in a moment. There's a two and 50. Are you looking for a way to consistently add winning trades to your portfolio. Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC. Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter Market Insights is published every morning when the markets open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. 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Watch online at TFNN dot com or on TFNN's YouTube channel and become the investor you were born to be. TFNN educating investors at 1 8 7 7 9 2 7 6 6 4 8 internationally at 7 2 7 8 7 3 7 6 1 8 Hi folks we're back and this is the Investco S&P 500 high dividend low volatility ETF. The SPHD code in the den asked what is what is the chat wave notation. So this is very interesting. This very much looks like the defensive sectors. I hope I remember SPHD. Look at GIS to keep you on the left side chart. Doesn't this look the same. And this is General Mills foods. I'm going to be talking about these potential double tops in so many sectors here. Look at the 72.95 was the high in July of 2016 peak D comes plummeting down. And what does it do. It goes down to a low of about 36 rallies up. Where is it right now. It's at high today 70.93. A little bit below yesterday's high and trying to double top. Is this going to be a double top in the defensive area. Well let's go back to the Investco S&P 500 high dividend low volatility ETF call the SP if I can actually now find the SPHD SPHD trading at SPHD. Here we go. Trading at 48.20 made a high. Is that an all time high or recovery high. This is an all time high yesterday. Unbelievable. It goes to 40. Let me just give you the exact number. 48 point was it 50 something. Yeah. 58. 48.58. I've got this as an alternate count G and C. I'm going to be talking about this for those of you who have done my workshops and you know my methodology very well. What I have started to do is that when the MACD is very strong. I've spoken about this for years that when the MACD is very strong instead of giving alternate counts all the way through. I just continue the sequence of the alphabet D E F. But when I get to G I think some of you noticed one of two people have actually mentioned to me what's going on with those GCs. Well I don't want to put it just gets to come with some E slash A F slash B G says when we get to a G and everything's running the rule of thumb is that when the MACD is really strong with an APD there's a good chance that the instant restart is going to just take it all the way to a G and then it pulls back and it can turn into a leg D and then it pulls back. So it's getting close to some kind of a consolidation phase. That's what I've done and you can see that here. So it's acting extremely well. The MACD is good to the castings. You can't get I mean 91 percent fabulous in the daily. But the weekly is ninety six percent. But that on balance volume is suggesting it is getting somewhat top even though it's a leg C in the weekly chart and the MACD is good. Not as good as everything was way back at the highs in May May June. But look at the monthly chart. Stochastic said 89 percent. MACD is very strong line is way above the 14 in a leg D. So yes I do like this. In fact I'm going to type it in right now. This is called too many words. So it's the invest go. I'm just going to call it S. and P. five hundred dividend and I've spoken about dividend stocks for a long time now. High dividend stocks. Oh I thought I had that down. S. And P. five hundred high dividend. Low volatility. Have a what more could you ask for. Low wall. I have to put volatility. We don't mix it up with volume. E. T. F. and it's done fantastic. And this is kind of the area that I'm saying to subscribe is this one and the same person gave me the idea of S. P. L. V. Haven't got into it yet. But this is one I'm also looking at just made a peak E. Same sort of thing. Potential double top at sixty eight point eighty six back in January or December January of past few months. And then it retested sixty nine point sixteen. I'm watching this very closely. This is the invest go S. and P. low volatility E. T. F. but this is a little different one. This one uses the top one hundred out of the five hundred and the high I'll have to look into them. But both of them are doing really well. And I suspect they're in play even if they pull back. And this one could be if you had asked me where would you buy. I'd say you know what if you haven't got anything in and you're really looking for something in the low volatility area. And this was making a lot of highs when the markets pulling back sharply. I would look at this and say starting position cheated as an entry point at sixty eight forty four right now. But this is just like like I've missed the move. I want to be in. I need to follow it much closer and I only followed if I own it. I believe that very strongly. If you own it you follow it. And so it's sixty eight forty four. It's just not the best place I understand. But the real best place is and it's a dividend stock. So a point and a half lower means that you know you're not getting a different ratio to your dividend. But I am going to say my next preference should be between sixty five ten and sixty six fifty. I try to go for the lower area. And then I just have a third one in hopefully not getting it. And the third one would be under sixty five. But I like it whoever it is is looking at it to give me a yell first before you go there. All right. So I like it very much. What would happen for it to really break out for it to break out. This is the S. I'm at the SPLV. But the question was S. P. H. D. So let's go to the S. P. H. D. Where would I get in. There are the forty eight twenty five fractions of the all time high. It's kind of tough. This one. I would I would step in but really just a nibble just to get a feel for it at forty eight twenty five. The best place for the starter position actually would be about a point lower or about three quarters of a point. But I'm not going to fuss over that because I have the same three entries just a nibble here the real position would be somewhere between forty seven. I'd like to look at it again but somewhere between forty seven forty two and forty six eighty. And then I'd have another third position. And I just it's a leg see in the weekly chart and then pull back and see if it goes higher. But most importantly it does look like a really good low volatility area. Now if the general market suddenly takes off by maybe Friday Thursday Friday we're looking at the Dow not at forty thirty four twenty three four thousand two hundred and fifty. It's right now thirty four thousand five hundred thirty but instead is actually at forty five seven ninety forty five eight thirty. We'll see how this one does. What's the ratio we want to see on a really strong move in the market. So far it's saying it's independence doing its own thing. SP HD there's to be five hundred high dividend low volatility ETF. Yes. Thank you for pointing it out. I need to write that down. So that's S. P. L. V. and S. P. H. D. Great. I've got to write it very well because the other day I wrote something down and I couldn't even read my handwriting. So my symbols is what we got and I didn't get the right symbol. All right. Next question is. I hope that helps. A crowd is a big winner. Yes. Crowd want to keep keep missing. I would like this or P. A. N. W. Pan Palo Alto Networks. These are the top in cybersecurity stocks. This has got a new recovery high major P. E. and two thirty two point eighty six on the on the whatever that was on the on the first of April pulls back to the two hundred P. and moving average having a big spike but this is now a leg D. and I'm going to talk about this tomorrow night. All right. So we're looking for leg D. What happens to a leg D. that comes in close way below the previous peak in this case. He kept up with about three hundred in the fall of last year before the fall of the ground strike. That's what I talked about. I'll be back. Are you having fun trading the markets but having trouble finding like minded individuals to discuss your trading and investment ideas with become an apex predator in the trading market and joined the Tiger's Den trading room only at T. F. N. dot com. The Tiger's Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas. Join the den and surround yourself with these sharpest minds in the trading world. Subscribers to the Tiger's Den are also the first to have their questions answered live on air and can privately chat with our T. F. N. host live during their shows interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day. Subscribe to the Tiger's Den risk free with our 30 day money back guarantee and become part of the T. F. 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N. is excited about our new software charting program the art of timing the trade chart in collaboration with Tom O'Brien and using his bestselling book the art of timing the trade your ultimate trading mastery system David White has programmed an outstanding piece of software that will complement any traders methodology using this first of its kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including guard lease ABCs butterflies and much more the art of timing the trade charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks or even months searching to find and right now we're offering licenses available at only seventy nine dollars a month we are so confident that you're going to love this new charting software that will even give you thirty day unconditional money back guarantee don't miss out on this incredible new piece of software yet your copy of the art of timing the trade charts today by visiting tfnn.com this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com hi folks we're back and thank goodness I just had a report earlier on our show and the report that there was a bombing in Brooklyn subway my granddaughter gets the bank of high school from Brooklyn subway and I was really perturbed and I just sent a note to my son to find out what's happening and said everything for them at least is good but it's just terrible these things happen right well now I feel literally it's a little bit better about the family so crowd is trading up fourteen at two thirty point seventy two now the way I'm looking at this it is in it is very positive in the daily chart it could be in for a little bit of a consolidation because it hit the left side high of what I was looking at two thirty six point thirty way back I drew this in let me show you how I draw these patterns I'll talk about this tomorrow how I draw the left side right side price time match it took a little longer to get there but eventually it hit two thirty six was the number we were looking for today hit what two hundred thirty six point eighteen I mean how do these things work to this cup formation I drew this in we had it at some point we lost a little bit back of the hundred ninety two level then it did pull back quite sharp he didn't it didn't get back in but once that nine crossed the fourteen I should have said hey you know what is looking very good and now look what's happened to achieve the exactly what we were looking at now I think we've got to watch it really closely because it's it's gotten to a level that is like a magnet to sort of consolidation area so it's achieved that now does that magnet repel it for a little bit and goes back to the two hundred period moving average of two eleven and then chops around or does it in the next week or so break into two forty six two fifty two area that will be read finally I'll be able to say that weekly and monthly chart are now in play we could finally start looking at a leg D in twenty twenty two probably sometime in the summer but I just want to go one step at a time because a close under two oh seven in the next three weeks would say uh-oh just stalling so that's crowd that was asked about the next question was sb a c sb a c and I get to the tiger YouTube and a lot of questions there I drew this in and I can't remember why maybe was I was asked about it before but I drew it in as a consolidation phase in the rectangle how important it is to be able to monitor rectangles because it can stay in a rectangle formation a lot longer than your patience so whatever this is it's called sb a of communications are communications sb a so C goes to peak C consolidates for a while turns the dreaded age pattern I'm going to show these patterns all of these patterns those over and over and over we see these patterns once you can learn the pattern you're going to identify so many things and at least it gives you some comfort in saying I understand what I'm looking at rather than say well what the heck is going on here and look at the breakout and it goes to a leg there we go this is so this is a minor a b c and that overlaps it goes to a d and then an e and then it pulls back and if you're looking at the weekly chart this is a brand new it's a grey leg a then a peak a and a grey leg b and then a peak b if there's no you're high this week but it is real close to getting into a buy mode it's got this pattern and we're looking at these double top formations so yes I like it on a short term basis sb a c trading down 3.32 at 357.98 just about a percent it should hold in the 352 14 period exponential moving average area it's a 357 if it closes under 348 it says oh it needs more time and that's going to impact the weekly chart if in fact it just pulls back but by Monday of this coming week we're in we're Tuesday says less than a week if on Monday afternoon going into Tuesday it even touches 368 it's a 357 right now up 11 points touches it that says aha chance of a breakout to the upside acting very well so if you're long I'd hold long if you're looking for a new entry just money management says the way it's it's acting right now I would only start a small position at 357.98 and just for the moment I'd give it about a to 5% risk because it's active has acted so well so that means like a 15% a 15 point stop just for the moment but if by Thursday afternoon Friday morning it is not taking out 352 but in fact is trading at with a height today 362 is trading at 365. I'd say that's great let's look at it again together. Next question is nice bounces square square. Yep. I'm going to type that type it over here square square is also peaky. How many peak D's and E's. I'm going to show that as well. Today I typed it in the wrong place. Oh that's the same chart. That's the reason why it looks so familiar. I was going to say this looks exactly like the chart we were just doing and here we are it is the chart that we were just doing. I haven't typed in square yet. There it is square square which is blocked ink. Stay with square made a peak D right on the left side right side price time match in the cup formation. Now it's gone to a leg A a trough A trough B and it's in trough C potential today. I think these are going to stall and the question came in. What about a toll toll brothers. Look at this China made a peak D top back at I think it was November in the seventy fives trading now it hit the forty fours is trading right now at forty seven ninety. I I have a problem with these these toll the HGX that's told brothers is in the home home builders area. The HGX looks very similar to this. So the question is is this the time to get back in and jubilant Austin the Tiger Tiger YouTube LPX. So it's all the very damaged stocks. They have pretty much the same pattern. Louisiana Pacific Corps the rails funny I haven't I did it. I did the notation but I completely forgot about I used to follow this so closely with the other rails CSX etc. Louisiana Pacific Corps in the in the rails trading up to sixty two sixty one point ninety four. So the only way I can look at these I think there's a lot more work needs to be done before we can establish a pretty decent low in the whole area especially when you're talking about rates on the one hand with Louisiana Pacific Corps we're talking about the rails having been really decimated in terms of just a shorter term going from the two seventy sixes down to the recent of two thirty nine is a two forty four right now but it is in a rectangle formation is just the move that starts the upside. So this is what I'm going to suggest it is really early and I know that you use options. I would prefer rather than to put that money to work at two forty four I'd rather be looking at an option. What are we talking about April options monthly options that would be the third Friday this 15th this Friday too soon. Oh and this Friday we close because of a good Friday. We're talking about the next month I'd go to the month the monthly chart of May 20th I'd be looking at May 20th. I'd look at a call option. You'd have to be paying a quite a bit of premium and I I suspect that it has a lot of two forty three right now. I think the whole two forty nine and two fifty three area of the nine and forty three moving averages going to be really strong resistance. All right. This is the way I would look at it. If you if you've done your homework and you like it and you're only looking for an entry place two forty three seventy seven right now. I'd start a small position. I would add to that position. I'd add to that position. I'd pay me over today's high which is so far two point five seventy seven. A two forty five seventy eight. I'd add another small position and then we need to see does it make it past formation for each formation. We can look at the game in another day. That's the person and hope. Are you in the market for buying or selling real estate in the Bay Area including the surrounding St. Petersburg is the biggest market in the world. 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The technology around us is changing every day with so much happening it can seem impossible to keep up with all the information David White's investment newsletter the technology insider is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future David White has made his living staying on the cutting edge of technology his weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week you can get the technology insider at tfnn.com for only $37.50 sign up for David's newsletter the technology insider and get an inside look at everything the technology sector has to offer try at risk free today with our 30 day money back guarantee tfnn educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade l a b u or l a b d directions daily s and p biotech three times bull and bear ETFs visit direction investments dot com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-47675 two three the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor for side fund services LLC 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 I have to say thank you very much for correcting me. I'm talking about you in the center of the Pacific court and I said rails and I said to myself don't I remember this years ago in the kind of building materials area why am I talking about the rails because that's what I typed but that was wrong it is it's in the thank you it's in manufacturers of markets moving products primarily for use in your home construction repair and remodeling outdoor structures yes yes yes yes yes I know what got into me to have to type that without even recognizing that I was typing in the wrong thing because I do remember it very well building materials areas yeah so it's that look at this charge you see this dreaded H that we're looking at here let me just do this and I'll show you something in terms of the arch pattern that goes from the lower case M just use the visuals right now it's much easier yes there's the first H and it went to a lower low and within two bars it went above the left side low of the 24th of January and then what happens it makes another H larger one and then it too takes out the left side low so yes in a way what we're looking at now is this whole area this is the way I would do this you see this area right here now it's trying to get back into this body of trading and then make 64.36 the 200 period exponential moving average is at 61.82 62 right now yes so I don't change anything that I said I would start a little nibble right now and if it can go just above today's high of 62 68 LPX Louisiana Pacific Corps building materials Mr. I would add to alert but I would treat it as a trade now it's it'll be your pleasure if you get in now and the stop that you put in and I'm going to say for the moment that 61 62 I'd give it about a two point stop or so maybe a two and a half point stop just to initiate this this give it a day or two because the Magdy's histogram is improving but it doesn't it hasn't turned positive Mr. Cassings and he just made his turn around he said 90% he needs to get to 23 to 25% to say hey that's a much better figure because it's over 20% and the on balance volume hasn't yet has given you the V shape pattern so yes there's a chance is this the big move for Louisiana Pacific Corps I don't think so I think it's still need much more chopping around but it's your pleasure to get in now as a short term trade and have your stop and then we'll talk about trading stop not get hit and all of a sudden you're looking at May the seventh and you've got this thing and it's at 68.50 or 69.80 he said wow and then all you do is just go with that because the monthly there's no other way I can count that I spent some time and I did this it is a peak see and the technicals are technically still pretty good in the monthly chart so I hope that helps you the next question I had was where did it go where did it go oh TLT could I do a little bit more work on the TLT so you see what I'm going to be discussing in my webinar tomorrow is how can you draw channels I'm just going to grab a chart in fact we can do this right now I'll go behind I've got a blank chart they will use this one hope I don't forget to go back again got no notations on it at all it's just the technicals and look at this look at this so what I do is I see can I draw I've got I don't have it anymore but I do have it somewhere in the archives I have the TYX the 30 year T bond yield going back to the 1980s getting back to that high back in what was it 83 I think it was so I don't have that anymore it doesn't even go back far enough for me to be happy so I was trying to find it but these channels can last a long time and remember I discussed in my long term view back in I wrote this paper with my partner at the time on the mega mega bull market to come back in 1986 we refined in 87 and soon after the crash they were going to do it what was the name Kathy she was the editor or the one of the senior editors she loved it wanted us to keep working on it and I talked about the mega bull market about McDonald's stock tickers at McDonald's 250 mile per hour cars that will become standard all sorts of things that were absolutely outrageous at the time and she loved it and then the editors felt it was just way too bullish for Barron's so we never got to publish any we had it here at TFNM we had it the whole thing it was published in a book in fact the book was called the psychology of investing the lifts and and geist with the editors it was a whole series from the Harvard medical school psychology school psychology they put this big thought big big event on I remember Cohen what does that be Cohen a whole bunch of people were speaking I was a guest speaker and it just sounded outrageous and that was I did that in 1998 or 1999 and then of course we had that major market top and crash I still believe that that is excellent that that is still what we're going to be looking at for a major major market move in the going to hysterical heights but first we have to get through now pandemic etc. and other things so here we're looking at the TLT because there's beautiful support a long term I'm talking about a trend line starting to come down 8th of December and here we are the 12th of April and you've just made a little bit of a low and this one is a little bit a little more flexible than the one I did before but this is the way I do it it's going to be red there it's going to be green here this is called the Chapman Way inside track propellant zone and look how many times it's gotten to the zone and then it's broken to the upside so the question Greg wants to know is would you look at TBT for me sorry if you already covered I did but I'll do it again but I'm just now able to tune in I have a position in the mid 17s oh TBT that's good that's I remember that yeah TBT and have taken a small amount off I would like your thoughts on adding stops on a core and stops on the trade thanks Greg so okay Greg what I'm looking at here is I'm using the TLT because that's our core and it's just started to form a base now if I go to the TBT I'm using this blank chart remember I can do the same thing on the upside but there's a difference because on the upside if I go to that level right there and I go straight along I'm trying to join as many bars as possible it's a little different and you will find that mirror images on say the diamonds the DIA and the DOG one to one short one to one long you'll find that there's a little disparity sometimes and we've just got there so I'll make it real simple I like the fact that you took a little bit off the TBT because look the stochastic is holding well one of the reasons why I skip this particular chart right now is that for some reason the stochastic has gets cut off over there so I thought I won't so I made a cop I made a copy of the chart and I use it on my regular TBT chart which is right here so let's go back to that and then we show you what I've done you see this chart and you see this it isn't a beautiful up channel because it's really an expanding up channel but the inside track the repelled line has become a propelled line in the short term if I go to this chart here look at the look at this look at this chart right there the growth above I spoke about yesterday and then it came back in well I think the same thing is going to happen to TBT I'll be back in a moment down to 163 we'll be right back sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at TFNN you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV live every market day from 8 30 a.m. to 4 p.m. Eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market 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trading community TFNN educating investors this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of TFNN.com so let me just show you our left side right side comparisons here we go this is the E-mini at up 2675 you made that high at 44 6675 back at about 9 o'clock and then it pulls back very sharply the night it was over the 14 and that meant that that moved to the upside you had to assess in relation to the technicals where the technicals were way weaker at 10 o'clock and look what's happened you've got a lot of information sorry the cup formation that had a weak right side and now you're going and you've just broken below the left side lip so this is going to be very important what we want to see for the rest of the day is that the there is just another sudden burst of energy and you can go up about another 100 points by 2 10 this afternoon and then I'll say whoa could be a really nice close you don't know so that's for me I can't do that right now I don't know who that is all right so in the meantime back at the ranch I wanted to show you the TLT there TBT so I'm going to say I like the fact that you took a little bit off don't get too carried away about taking things off because I think rates are going higher but in the meantime you're the level to watch to take maybe a little bit more off is 21 85 you're going to be looking at this give it another Wednesday to Wednesday we want to see what the Fed does tomorrow and then Thursday that's the good of the game I wouldn't be taking too much off right now because the major thrust is still to the upside we're going to have to see a big turnaround in heels so just with that that said remember this is the pattern we're looking at if it does break into the 21 85 area it could start a very choppy move the same pattern right now breaks out of a long-term up channel and this starts a very avi is the avid lab spin-off training down a dollar 38 we spoke about it yesterday Ian now it's getting very choppy so yes I like that you took off to wait a little bit take a little bit more for after years if the TBT falls back a little bit does it happen I'll be back with Tom and later on don't forget my webinar and please yeah join the discord