 The following is a presentation of TFNN the Tiger technician hour with your host Basil Chapman call now toll-free at 1-877-927-6648 I'm down to 183 s at 35,025 S&P is down 39 at 44 50 QQQ down three and a quarter at 367 IWM down dollar almost two dollars at 188 gold down eight at 1936 dollar is down 20 ticks at 102 99 TLT is down 14 pennies at 9503 94 point 54 was a low on the third of May let's see we're into June just over a month I know I must be wrong that must have been June no August what am I talking about August and does not have five that's an eight let me just change it right now whoa what a day's been already edit eight there you are got it eight and today's low so far is 9462 this is a dreaded H pattern we've seen this in so many charts it's the pattern that we'll be looking at for some time now I said that the pattern that we'll be looking at over the next couple of weeks will be the lowercase eight let me just show you this for those of you new to my work you can just look at patterns cheat them as templates and use them in your training look what I talk about straight line up or down cup formation art formation that's look every single chart that's what you got yeah sometimes the cup is a V but it's the same thing you're going from one point down then back to that point how it deals with that point when it's going up is important how it deals with this point in the arch or inverted V when it comes back to the left side low is very important pink a red because if it takes out certainly after peak a ruby it takes out the left side low it can go a lot lower you just saw that a couple of times already yeah in the TLT in the daily chart and the upside and you'll see that in the reversal your protestors go to the you're looking at the left side high straight line up left side high how it takes out the left side high is important why this is have a look at the TBT TBT right there so what we've got is the same thing except they wise instead of h's right test it and then breaks it with the cup and handle actually usually not one of my favorite patterns but this one was really powerful and now it's doing the same thing again hasn't taken out that peak D and that's what we're watching very closely so okay now let's just do a summation in fact I'm just going to save that because I've been doing so much work and it does down 307 now let me show you we've spoken about this forever I'm going to be doing a webinar on this for subscribers I'm in fact I hope to do a bunch of things but look at the time it's taken for this green nine period exponential moving average to turn pink and it hasn't turned pink I think it's really close within a day or two and if it does because it's such a slow move down it might only give you a tiny little aperture between the black 14 period moving average which will then be on top and the pink which will be below that's the 9 period moving average and that means it is not an absolute massive fall like it was when you had that sell-off right here back in April February March late February of 2022 I think it was look look at that and then expand it and you just went tumbling all the way down so to me this is an indicator we've used in in certain ways it really can help you a lot number one number two it can also I would say it could prevent you from being early in changing your direction in the long-term direction but it can also mean that the price goes sharply lower before it actually gives you the signal so you've missed the exact term for exact turns I use other techniques and that's going to be very important I'm just discussing this out in the open just kind of how we've been looking at this what we would do for subscribers to my opening call why it's so important to be able to monitor look we've just taken out the left side low of important so now you start a leg see to the downside I have to just double check that I didn't print it so I just need to see a 35,000 a 30 feet no 35,007.41 so today's low is 34 we're under it we went to the 34,995 level so we've started a leg see and as I said this is probably the day I think it's going to be the day that the Dow actually shows you the 9 period moving average now the big question is this and what I want to do is I had a bunch of questions and we get to everything if I can in a moment and that is to say within the context of using particular technical tools they are just technical tools am I going to use a hammer if I want to draw a straight line a piece of wood am I going to use a t-square or am I going to use a plane if I need blue no you only need the tool that you need so we have this usually now it's a little bit of a joke a historically a joke my sears my huge sears and roebuck toolbox of technical tools and all I can say is that you have to use the tools as best you can and if it works it confirms the technique involved and if it doesn't work it says it didn't work that time use some other tool okay so what I did for subscribers in attempting to pick the top in the Dow and you know maybe what 95 percent of the time when you're listening to any of the financial news you'll hear people say I want to get the middle I don't I don't have to get the nobody gets the top nobody gets the bottom well you can attempt to do that you can have some tools that allows you at least to attempt to do that because if you get look if we got the exact top we would have been stopped out here on that big move up four days ago that huge move up because if we got in after anywhere after that I would have had a tight stop this way it gives you just it gives you that leeway you can read a little bit because you got the wiggle room and I need wiggle room so that's that's because I have very tight stops for my subscribers so within that context I'm still waiting even as I speak right now I'm still waiting for that nine look it's still nicely above the black 14p moving age would probably have to go another hundred points down before that turns pink but if it turns pink look at this left side this this is a closing price of the Dow as it's moving look at this there is no real support until you get to there well I don't do work like that I don't say oh my god if we break down we're going to go to the trough of the 7th of July which is at thirty three thousand seven hundred and seventy it's impossible I do not do that I look at all the different things on the way down we go one step at a time we don't even know if the day is the day is young it's not even an hour into the session anything could happen there could be a turn around there could be a sudden look at this the S&P deep into the red and a deflactor look at the QQQ deep into the red look at the SMH's even with yesterday's balance I'll be back down to 100 and 99 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 and stock prices get the opening call newsletter by Basil Chapman in your inbox every day first-time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up TFNN.com educating investors 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 TFNN has launched the Tiger's Den hosted at Discord. TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours the Tiger's Den available to all Tigers and Tigris is 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 toll-free at 1-877-927-6648 internationally at 727-873-7618 Hello so there we go we're looking at I want you to go through some of the things I'm very concerned about the bonds look how close we are getting to the left side 91.85 low from October of last year and that to me is just it's not a good sign look at the dollar trying its best to move higher here it's on the 200-period moving average my suspect that it's going to be a magnet it's not going to be able to push above it and hold unless it has a really big move up but look what it's the fact that it stalls here is something by the end of the day if it's at 102.92 or higher that's okay if it starts to slip to 102.77 or lower that says okay maybe we've got gold that's able to have a little bit of a balance yeah it's already coming back quite nice from the low of 1927 it's in 1936 that's it's a nice to intraday turn around trying to get back to that 1940 level from back in July but this is what I'm looking at that if the semiconductors had a spectacular move yesterday I went from the 145s all the way to 150 I think it touched 151 150.73 so I'm looking at this a scans I'm saying hey wait a minute you guys usually lead us up and you usually lead us down just for clarification and for disclosure purposes for subscribers from opening call that the high was 161.17 on 31st of July with a doji candle we waited one day to see what would happen and before the open the following down the second we went kind of aggressively short on Thursdays on Friday this past Friday on a huge move down we took a little bit off we took a little bit off and especially with our more aggressive position we took off a little bit yesterday at the pre-open for really good get to a 10% gain or something like that but allowed it to run up and we've just added back to that short position so the reason why I'm not usually this aggressive until I get really big turns what I am anticipating on a daily basis not the weekly we don't know anything about the week yet it hasn't finished it's only just begun but on a week on a daily basis if all the technicals are starting to fail this is the rudder of the weekly chart and the weekly chart is the rudder for the monthly and none of those look they still look pretty darn good so this is more shorter term but I'm looking at this saying if we've had such a big pullback remember the Dow into its high in August the first this was the 7 31st of July if we've had such a big pullback in one of the end of what I call a leading index it means that I've got to be careful here that the Dow how can I do this I want to do this visually so as you can see what I'm talking about yeah let me do it visually let me go back to my 914 chart it means that what if we've already had such a one of the biggest moves in the semiconductors to the downside since that extended time and price move going into the April low and around about the 24th of April of this year this has had speed and time very little time is mostly speed what if this is starting to form some kind of a low and let's just look at NVIDIA as a good example look at that V shape pattern but look the pink 9-period moving average if this tips down it'll be deflecting lower so I'm watching this closely it's still up four points today at 40 441 it hit a 390 what was the low yesterday a 406 so that was a massive move 406 today so 452 I mean that's a very nice move up so I'm saying to myself you never know in this bifurcate trifle quadruple focated market whether or not what what's going to give way and what's what's going to stabilize well in this particular instance what we're looking at is if all these particular sectors are starting to form some kind of a base for a pretty decent rally then the Dow might turn out to be stalling to tell me not everything's in sync and be careful because there's enough internal strength in other places that you could have another rally so I'm just being prepared for that but at the same time the technicals are saying weakness is there it's pungent it's you can it can actually feel it as palpable even yesterday when we had that big spike it was mostly short covering as far as I'm concerned there were some new buys when it or held when the SMH has held so well I think new buys came in so I would suspect that in the estimators I just want to finish this preamble now that I've got a lot of questions that I want to get to so in the estimators case if we get if we close under 14750 kind of the midpoint right here 148 would be I'm going a little bit lower than that it says all the new buyers are in trouble and those that were short covering are gonna say oh geez now now what do I do so that's that would be a good sign for making lower prices a bad sign for the general market that's okay some that up from from my perspective a couple of questions I had FX I let me just get to that quickly that is the China iShares large cap ETF look at that I said be careful at that peak D should pull back quite sharply 200 period moving average try to hold it hold the support which should went all the way down center one also one to one to the downside from the 200 period moving average and the weekly chart looks like an H that goes to an M pattern not good XP EVs are asked about yeah XP EV I'm looking at this and saying be careful I've got that as a PG in the daily chart run about 24 it's at 15.71 right now this whole area X designs develops manifesto smart EVs you want to know what happens to smart EV sometimes let's look at our IV N look at that pullback from the P D under the 200 period moving average just be careful in this area we have we had an AI stock it did fabulously no we had VX the env X which is lithium batteries for the the architecture for for the EVs and we got out of it took out took a real real nice short term small gains we only had a small position to gain and then we just got out to break even for the remaining part way above where it is now 15.36 and I'm just saying let's see how I test the 14 56 area that definitely this is in the area that you want to be in but when is the question that's number number one number two is within the within the context of looking at all these other things I think money will come out of the AI area at this particular point because they had such good gains and we'll see when the money comes back in I just a question here okay I'll deal with that right now Amazon okay okay it's the usual thing that Paul says are you are you aware Amazon is a P ratio of 332 makes sense okay so let's just look at Amazon I was all right guys hold it up we have the higher part of this range is it going to give some of it up everything about this says yeah it could quite easily go back to the digestive phase between a hundred thirty eight hundred people to buy Amazon care about the P not yet but they might I'll be 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 keg stats Tiger 4x report Teddy keg stat breaks down the 4x markets every Monday using his 30 plus years of experience as a trading veteran of futures 4x stocks and options Teddy releases his weekly Tiger 4x 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 4x markets tremendously when you sign up for the Tiger 4x report you also gain instant access to Teddy 60 minute webinar archive he just hosted 4x strategies and fundamentals what is behind the Tiger 4x report for all the details and to start your 30 day Tiger 4x report subscription today visit the front page of TFNN dot 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 dot com and try mastering probability 30 days risk free today TFNN educating investors 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 dot com and TFNN 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 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 dot com or on TFNN's YouTube channel and become the investor you were born to be TFNN educating investors don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN dot com then hit watch Tiger TV that's TFNN dot com then hit watch Tiger TV I'm just trying to get into Paul's head Paul the people that trade and we'll buy Amazon are probably very different to the people who buy GE I like it when people do both you've got they're two different perspectives completely in fact look at the daily chart they both look the same but the weekly chart of GE is just fantastic there will be a sudden slump into the 100 areas at 113 right now but look at this it's just walking the nine not even the 14 so they different things all together so I'm just trying to get it to you that you can't put people down for buying stocks that would have high PE I there was a time years and years ago when I started that I would choose one of the highest PE what part of the portfolio always had something I didn't even know what it was it was just one of the highest PEs and I knew from me the history of looking at the chart whenever there was a major sell off the first thing that came back was this high PE stock that's just the way it works I'm just wanted to clarify that I it's just important to know your who the who the people are the who the different characters are in the play called the market there's everybody there's everyone adobe question about adobe adobe is it made a fabulous ready it had this this this year is actually a rogue wave it looked like it was coming down closer it's more like a right arm extension but what it is a big spike to this 550s after and a gap on news and then it when the stocks that start to fill the gap after a big news related spike and then go even lower it says that was just an aberration what happened there was just a real fake out and that's what it looks like was a fantastic company look how many g-slash C's have we seen that have gone to the D there's your g-slash C now I'm updating it on the weekly chart it went to the D now it's due for a bit of a breather adobe great stock trading down four and a half and five seventeen apple APL there we go Apple same thing great stock having a really good digestive phase in digestive I should say down a dollar and I almost $2.177 made a peak D beautiful we discussed this as it was happening under why actually in shorted for subscribers to my shorting we can go to something in a moment there's the arch formation the dreaded age you went from the cup to the arch and bam it gaps down it's in trouble right now and it's peak D in the weekly and a probably a peak D in the monthly look at the oh GSM talk about the peak look at this so leg D in the month weekly chart of GSM which is ferraglobe PLC specialty metals monthly chart is still quite terrible but look at this big spike here rogue wave to the upside now what this is a perfect example of a rogue wave it said let's forget about the price imagine instead of 511 was $51 I it's much better to look at it that way so it had this beautiful cup formation I didn't put in the left side right that price time match but it did that went to peak from the 463 which would pick a peak B peak CP D peak E then a pullback below the 200 period moving average but it had that sudden spike so look what happened that the 9 period moving average was still green this is the magnificence of these 9 14 period moving averages if you know if you can understand them this is there's a whole there's a methodology within them that should not surprise anyone when certain things happen so look the MACDs week stochastic week on balance volume is week 12 200 period moving average it's holding and then it goes underneath it on the say call it's called the 7th of August and then what happens is there's a sudden news related thing and the spikes it goes above that peak E and I called it a peak F and it came back down the next day and went even lower down to 464 464 holds above 463 so it means today's again a rogue wave is where there's a sign of the beach that says high tide at noon at 1206 there you are you're at the edge of the rocks you're right there you think oh I'm just gonna sit and relax now while the tide goes out I got you you got your your soda you got your food you got your dark glasses you got your nice suntan lotion and as you're sitting down splash this huge wave comes along and your white your glasses you look around the tides going out you don't even know where it's coming from that's a rogue wave the tides going out because all the technicals we accept in this case the nine was still green in today's case the nine was still pink so it means that this could give back a huge chunk of this big spike to 558 is trading in 510 right now it's up 5.59 percent earlier on it was up a huge percentage but that's a rogue wave where everything said you absolutely right this imagine it was 51 that's why I said it's imagine it was 50 because that's a short that's a short you would have perfectly correct in shorting it right there and then you would have been and what happens in a rogue wave is that the price goes above the previous high where everybody said I've had enough I'm getting out we had a great thing I'm gonna take most of it off I love it but it's just getting a little toppy right now and the shorts oh my god this is a fantastic opportunity short well what happens in a rogue wave it goes above the previous high that you're looking at just long enough for the people who got out to say oh I knew I knew it was just one of my favorites I never have done that how could you do that I'm gonna add back a little bit and it holds up just long enough for them to add and then for the shorts that say what who where what happened this is I mean one day it's at 480 and the next day it's at 558 I got a car I got on it holds it long enough for them to cover and then both parties look around and say oh no five dollars and eight cents I could have just held on so there you are that's a rogue wave so I'm saying now you've got to be really careful because it's showing you that there's a vulnerability to sustaining the upside the weekly charges hey I'm just stuck in a rectangle what are you worried about I go to the top then I go towards the middle or even the lower part that's where I am right now I'm more towards the lower side hope you can help out that helps you A2 next question is let's see let's see can you check gold it looks like it's on the move okay let's check gold do you see actually the question I had was gdx so let's just start with gold now it's down three at 1941 the reasons is that the dollar is given back at the resistance at a leg e maybe a PE stored right at where as I said I'm going to be doing a webinar on these things how important is the 200 period moving average well it's 200 bars back you don't even have to care about it when you're down here but when you get close to it look at the magnificence of this look at how the price to the pd haven't we pd then on the 8th of March at 105 88 it comes tumbling down takes out the hundred hundred point it tries to take out the hundred point 82 low of the third of February it does it goes to 100.79 on the 14th of March and then it starts already after the h goes to successful m pattern makes a big confirmation goes to pd then an e just above the 200 p moving average then an f comes back under the 200 and then over it and then under it and it's goodbye do you care about the 200 no not when you hear but you do care about that that pc because it turns your c-minus because it fails and the plant is down to the most recent low up and now we're at the 200 p moving average again this is the time I'll be doing gold as soon as we can 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 are you ready to take your trading to the next level 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 season 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 biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade labu or labd directions daily s and p biotech three times bull and bear ETFs visit directioninvestments.com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain 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 hi folks so to answer the question on gold that's look at the EURUSD well the euro has uh uh the look because of the pink nine-period moving average the MACD the stochastic at 90 percent that it wants to retest the low 1.083 and it says 1.093 so and the and the weekly chart has the look that the nine-period moving average is getting closer let me just do it here so you can see a little bit better because it's important that you look at apples to apples so EURUSD and the data is very poor but in the weekly chart it's still holding very well there's the weekly chart look it's holding well um and so far it hasn't turned pink my eye that's different to doing a whole technical analysis but my eye says if this gray that's the price of the that's the euro USD currency pair if this starts to break lower it'll drag the green period moving average lower but if it just goes steady sideways they can both go but then you need to look at the USDJPY and look at this how positive look how high the price is above the nine and the nine is above the 14 so let's go back to gold we'll do it just with this particular instrument this is saying that the tacticals here are still very very it could have a balance there's no question about look it had a balance there it went right to the pinker then it pulled back went right to the pinker pull back so the patterns are a little bit different and if you look at the GDX even that is is way different this has already been negative even though it popped to the upside look it's been negative for a while so and I have to put silver into the kettle here as well because the kettle into the pie because that's just turned pink yet again in the arch or the inverted vision formation so let me answer this as clearly as I can looking at gold as it stands right now the day is young it's down five it's doing to have a reversal of significance even when you get the SMH's look at that huge green candle from yesterday look at Nvidia look at that massive green candle from yesterday even with a follow-through today you need it's the follow-through that counts so even though for subscribers we added to the short side we have to monitor this very closely because look at that big move up but then but the green sorry the nine-period moving average here is still very weak oh wait what am I saying is this upside down let me just have a look at this I do this all day yeah the green is above oh now the green is below that's right this is the this is the this is not the nine over the 14 this is the nine-period differential so let's go back and we were looking at let me just go through this again gold so the unbalanced volume that's the clue to me and I'm saying to you that I think that gold is probably getting ready for some kind of an oversold bounce and one of the reasons is it's gone below the 1940 low it did it yesterday but it closed above very often in this particular instance if it doesn't close sharply immediately sharply below the left side low it says there's some kind of residual strength there and now what I'm thinking is that the a balance is is likely and a balance is only based on this nine-period moving average the stochastic set seven percent that's horrible just the way I say that a stochastic in the 95 percent area is fabulous so this is unfabulous right it's exact opposite so yes I think it is ready for a bit of a balance I would just treat it as a bit of a balance because that weekly chart is suggesting that it's still got a little bit more to go to the downside so the answer is as a trade yes if you want to put a stop in I don't trade gold like this so I can't even tell you what it would be but I would say 1940 right now if at any point during the day I'll go to the 120-minute chart oh let's just do that quickly because I don't want to run out of time I've got some others to look at here 120 120 120 where did you go there okay 120-minute chart right there quick why is it there 120-minute chart it is how to get so small all right so you can see this little double bottom low there was a scab because there was no trading and then it plummets down the low today's 1927 what was the low yesterday a 1927.5 am I correct it's the low exactly 19 the double bottom low exactly yeah I like that so as a trade I'm going to say yes I think that this is going to ready as the dollar just takes a bit of a breather um and remember the day is young so you've got to treat this almost like three sections gold at the first early drop-off now it's got this whole period between 10 20 and I'd say 11 let's go to 12 10 10 plus 12 if at 10 plus 12 it actually goes up five points watch 20 plus two this often in eastern time to 310 if it gives back a chunk of that because the dollar has suddenly found strength and look the dollar is holding pretty darn well then you've got to be careful but as a trade I think it has room to go and where would it go to let's go back to the dollar GC is this the move that says start buying it will be gold shares I don't think so though they've actually looked in G's held well ASA has held uh not as well G OLD GOLD is that correct yeah and not that great yeah so I'm just thinking this is a trade cool I should have said that right away I think it's a trade but I would have a a stop at your entry point if it can go five points above that and then I'd have a trading stop on portion of that a three-point trading stop on the way up I think it's going to stall at 1956 if it can get there that's a pretty decent move 12 points 14 points this whole area between the 9p moving average pink and the black 14p moving average of 1960 she says yes a bounce I don't see more than a bounce at this particular point all right all right a bounce is all you need it good okay Glam um oh is that the blooms guy we're looking at mr burns okay uh let's just do this now a question let's see if it's okay I said I do some of the banks did I do that oh I did that okay so city bank was the question city bank looks terrible and what I'd said in the den was if it breaks the 42 support I said 4375 right now you have to consider that it could retest the 40 low that was right here that was a lower 40.01 mr for round number low then october of 2022 this is the dreaded H it could turn into a very successful H in the monthly chart but a lot has to happen maybe I'll talk about that tomorrow in the meantime back at the ranch this is a lowercase H that goes to a lowercase mr I wish all these things could just be automated but they can't because things are always shamed yeah so that's there look at the XLF same thing XLF very weak today oh no not the same pattern I shouldn't say the same thing I mean the same action very weak down 50 cents of 34 34 bank of America which is what we always have we haven't had it for a year I think now since I've been very very cautious in bank of America we used to have it every year for a good good percentage gain and then just got out of it and we'll wait until the next five 30 area then a 35 uh result and look ah at this time we're just stepping aside I'll be back tfnn has just launched their new trading room the tiger's den hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours and now they are expanding their reach with the tiger's den available to all tigers and tiger's for just one dollar for the year there's no catch or added costs when you join our community of traders in the tiger's den you can look over the shoulders of tamo brian and the other tfnn hosts while they analyze charts during their live tiger tv programs and join an interactive trading community with hundreds of members exchanging ideas interact with other tigers and tiger's 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 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 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 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 so uh uh question about Nike and I think you do like these spiky chart pens it looks exactly like the GSM look at a GSM look at that right there it's got the same spiky highs coming back down and now you've got Nike um same thing so Nike is trading uh sportswear there's the B shares trading down $50 at 10612 it made this peak ABCDE very quick and then an F and all the time the technicals were so into deteriorate and now it's gone pink so that just says to be dreaded H in the weekly chart goes to a lowcase m and then if at any point this is going to be I agree with you if Nike starts to trade below 102.90 the low of the week of the 2nd of uh June um next level of support will be 101.68 there was a low of December the 23rd and then it's kind of a free for all so it's really important and the fact that this rally went to a pkf way underneath the highs that were made back in the 114s in June and July and this is it's not good so I agree now um I had one oh sim sym I had a question where would you where would you add to it or where would I get in if I'm not in it well we are in it from 21 it ran up to 64 we've taken chunks we only have a little bit left on the as a core position but I'm saying hold off because these stocks this is some botic into and AI were robotic where else automation systems that pkf in the weekly chart was with very good technicals if those technicals starts to deteriorate then that rollup was made uh on the week of the 20th of July that could be a problem that's a 35 point so hold off have patience hey folks stay tuned got a great programming coming up Steve will be here all the all the hosts will be here check out both the former gaming newsletter and I'm I'm preparing a webinar I'm looking forward to that I'll be back tonight I'll be great now I'll be back to conference