 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 Hi everyone Basil Chapman on the 17th day to Monday the 17th of April we're looking at the Dow up 18 to 32 1905 as I was saying earlier in the update. This is Boston Marathon day. Wow, I remember way back when I was staying at the corner of Hereford and Newbury Wilson Street her friend Wilson Street Way back and they were like a couple of people running by me It was it was a holiday and I had the day off and I remember Asking this policeman say well, what's going on? Well, what's this is? This is the Boston Marathon and they must have been like Three people going by then two people in a big gap and people just walking around And now of course you have tens of thousands. All right, so here we go We're looking at the Dow up 28 to 39 15 beginning of the week. So this is really important I think it's gonna be a very important week because what I'd said Thursday and Friday was that the technicals in the Dow Daily chart are extremely not so much the weekly chart but the technicals in the daily were extremely strong and that to It could take time and I showed you the e-mini chart I think it was at the ten minute or the one minute chart and I showed it to you how they curve in the stochastic And the mag D how you needed to see it immediately come down on really bad news To cross negative for the nine period over the 14 to go pink and change from green to pink And be negative. You'd have a heavy huge price move So it has to be either really bad news that comes suddenly or it's a methodical slow move down the text about three Like distribution at the top. So it takes a few days And I can even consider that in the last few days, even though we had a fabulous Thursday So the last three days have been some kind of a consolidation phase But look the nine is still the price is way above the nine period moving average The price is at thirty three thousand nine ten the nine is at thirty three thousand six Six fifty one which is also this midpoint Gray line the horizontal gray line that I said is key support I had set it back in February and then we broke down below it and their shark move into the March low Then we went back and we've gone back above it the green 9p moving average is way over the 14 which is a thirty three thousand four fifty eight So to get this green line to really sink you'd have to see a price way down here at the fifty period moving average You'd have to see the doubt thirty three thousand two hundred or it's going to take a little time as it wears away Meantime the MacD is still strong the histogram started to slide a little bit the Stochastic still flat at ninety three percent. You can't ask for anything more than that That's fabulous. We can ask for something more But that's really good flat in the stochastic at ninety three percent is really good action doesn't say that it can go skyrocketing just as you've got tremendous support and you should be making higher highs and then the Unbalanced volume the little blue line there is may have there has made that double top with a weaker right shoulder than the left So it is pulling back and seems a little bit of stalling motion in the Dow and the relative strength right here is Steady it's looking quite good. I'm approximating it at about sixty eight percent quite good Weekly chart we've just begun the week. We need to see a break above this trend line resistance here get to the thirty four Oh, I'd say oh, it would be fantastic if we can get you thirty four thousand three hundred this week Don't have to close. They just have to touch it. That'll be a really good action. Let's go to the S&P I'm doing this because it's the beginning of the week. We need to at least I need to know what I'm looking at I'm looking at stalling my formation here down sixty six cents in the S&P at forty one thirty seven So that the high that was at forty one fifty was at fifteen. Let me just check the high that was Forty one sixty three nineteen I may as well just type that in Forty one sixty three point nineteen on Friday a close above it You can break above it today and that'll be a continuation of leg E a close below It says you made a peak E a push in the next couple of days to the forty one seventy two Forty one eighty two level would be really good, but in the meantime, I'm just saying I'm anticipating I said to subscribers and I'm gonna put anything new and this is a particular stock that be wanting for a little while which we do have one and We're waiting for a little bit of a pullback to get it said a really strong leg be I'd like to pull back and then You get it at least to try for legs C&D. We'll see about that meantime back at the rest of QQQ It's done eighty seven cents at three seventeen point seventy five. You can see what's happened. Yeah We've got a cup formation. This goes to right shoulder failure pattern. That's like a Dreaded H where you go up and then you fail at a peak a or B underneath the previous high And you take out the left side low We haven't done that yet. They're still holding well The technicals are still pretty good in the nine over the 14 but the other technicals are starting to fail and the weekly chart It's still holding well, but I think this is a little bit vulnerable IWM also is a small caps It's up and now it's up a dollar fifteen at one seventy seven sixty five So it's held the gains while the others have been slow To rally and hold rallies. They just haven't been able to do that But isn't it interesting because the ice is often it does that as the others are Fultering and then they will come down together to about all come down together go this down nine points at 2006 I believe this is going to turn into a peak G slash C making it a G if gold slides under 1988 in the next day or two Then I think we've made some kind of a short trim top leg e will go to a peak e in the weekly chart Why do I say that but if you look at silver silver is pulling back a little bit, but it's had a fabulous move up It's bumping up against the chap we've inside wedge target repellent line It's made the bar symmetry perfectly here in the cup formation. I at twenty six twenty eight down seventeen takes If go if silver at any point touches twenty four fifty two This week there's a really good chance that the weekly chart itself is going to store a little bit But it's had a fabulous move It deserves it a little bit of a breeze a high grade copper High grade copper is pulling back at peak B and now it's coming back into the chap we've inside track What was a repellent zone that became a propellant zone and now it's back to a repellent zone and that weekly chart Just kind of stalling sideways. I'll just do this because I had questions over the weekend Yes, FC exit is a leg D. Good. Good. I And it failed to make the left side right side price time match by a couple of days and a couple of points It's at forty two oh eight I think it's having a little rest of period if you look at SS SCCO, which is the southern copper copper company went right into the chap we've inside tracked repellent zone Could have one more peak to a leg D but this is the area where it keeps getting repelled and look it's got that wedge formation in the Weekly chart will get maybe by Wednesday. We'll talk about that wedge formation. I don't talk about it now Let's go to I wanted to go to the dollar the dollar is up and we spoke about this the other day I had a call on on a Thursday I spoke about it and Friday We had a call I spent quite a bit of time on this and I said in my boss symmetry workers Looks like a pyramid go straight up and then you come back down Peak a peak B peak C peak D fails at 105 point eighty eight on the eighth of March comes back down test the hundred Hundred point eighty two low of the third of February in beautiful price time match It's actually three days late But that's not a problem because it it got there the MACD is trying its best to turn back up again The histograms improving a bit the stochastic still quite weak But it's higher than it was in that trough D and this is a trough E So unless what if the dollar at 101 point fifty eight up fifty seven takes is able to break and hold 100 Races the answer in line and that'll be a big positive I'll be back in a moment because once a liquid natural gas my great profit the others thousand chapter time This is how it does it? Be right back if you're looking for potential trading setups in the stock market then rocket equities and options report as a Newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals And technicals sign up for rocket equities and options report today with a 30-day money-back guarantee So you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN comm TFNN educating investors 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 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 comm TFNN educating investors Everything in the universe is governed by the Fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the Fibonacci 24-7 newsletter at TFNN comm 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 comm 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's for just one dollar for the year There's no catch 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 Hi folks, I'm going to show you this I got the screen yet and so many of these buy and micro biotechs have been popping up lately Look at this son of biotech ink repair and control genes and cells or replace them up 40 cents is $5.59 cents up 7.8 percent, but look at this It's gone to peak a be this is a leg C right above the 200 period moving average in just four sessions goes It was a 360 now. It's at 560. No, yes, these are big moves You know, I just thought I showed that I want I'm doing this a BA BBA I a question about it Was that BBA? Yes. Oh, it was a B. Yeah, BBA I leg D did this left side right side price time match Doing it beautifully the target that I mentioned on Thursday or Friday was this high that was for $3.79 cents today's high $3.70 cents bumping up against the chapter inside wedge target repellent line. Let's see what happens there The oldest big bear dot AI holdings is that I Got to reminisce that go to do with anything with Biotech. I'm not sure. Oh Well, anyway, so a question came up about natural gas natural gas up very nicely today up at up 17 cents at 2.28 up $8 8 percent. Well, that is what I was hoping to see I For about three days. I want you to Have subscribers by the UNG But you know, there's a big problem with this there's been an issue with natural gas The way that it made the bottom now this bottom I think is a little bit better than the one before but that one before did a 30% gain It went from 714 back in February at the low to almost ten dollars Just about a week and a half later. Is this going to be different? Well, and in that instance The Maki and stochastic were doing very well and then it failed at a peak a and a gap down Just made low lows and low highs ever since today with the low on Friday of $6 and 27 cents with a decent close in the UNG That's the United States natural gas fund. This is the first time I can say that The way that it's taken off is so much better than those candles that we were looking at the kind of Reluctant move to the upside. This is a move that says the day is young but if trading at 7 7 14 open His 17 19 7 19 The lowest 7 11 and that's a 7 13 if there's an if even if it stalls now If it doesn't go under 690 on a closing basis, but holds somewhere above 7 0 5. Let's say an intraday it gets to 732 728 anything like that and then gaps up tomorrow That's the move that says hey now we can have a decent rally to test the tens and this time Ten should not be a barrier should go right through and speed should be the issue But it is still these there's been something wrong with the contract and something wrong And that's the reason why I'm saying if you are doing anything with this Just put you must put in a stop you can always get back in but if this thing tanks it tanks very sharply and and Doesn't go back sometimes it goes back the very next day, but most of the time it's made low lows afterwards So I'm just saying for those of you who asked me about it. Yes I had considered on Friday, but even Friday went to a low. I probably would have been stopped out I didn't they look it opened on Friday at 6 It opens at 6 34 and makes a low of 6 27 Maybe I wouldn't have been still anyway I didn't do it so in this particular instance the day is very young because this has been just a Hazzard to your wealth and your health, but in this particular instance and another a second gap up meaning that within 7 trading days that means they're from today Going all the way into I don't even say I need to go into Tuesday Wednesday or next week if it hasn't taken out the high that was made on Friday Which was 7 19 hasn't seven Sorry six seventy four if it hasn't closed under six seventy four, but instead is actually spiraled towards eight That's what you want to see. So yes, is it a tradeable? I think right now it's straight all but watch it put your stops in you have and I don't know if you if you have a Platform that allows it to trade overnight. That's one thing. Otherwise. I don't know what you do If you've got a really good game, you can have it hold it overnight and just try to put a stop in But if you if it you can't trade it overnight, and this is Really a tough thing. So then another question came up about knack, which is Nordic American tanker shipping now some of the shippers have done very well lately and some of them are really Plums they were doing well, and then they just took it on the chin. Well And Nordic American tanker. I mean, I'm not going through the story again I don't even remember his name but the the The CEO way back. I think it's like almost 15 years ago. I don't what it was It was a long time ago in the last time that Nordic tankers. Sorry to tank I know I may as well just do this right now. It's Monday. We've got time. It was way over there Was it even before? No, I think it was oh Yeah, it was somewhere around It might have been the going to the highs of 2005 I Got a feeling it was after that. It was on the way down. I know I remember it was on the way down I think it was right somewhere around It might even have been right in this move to the upside peak a peak B big CD Okay, or C1 C2 and then it came down from the 15 17.45 area and then it makes even the recent lows. Look at this. It went. Oh man. This is horrible It went down to a dollar 42. I remember at some point The CEO said, oh, oh, I think it was being interviewed by Jim Kramer. He said, oh, yeah We we've never skipped a dividend in 45 years. I don't know what it is 45 quarters Whatever it was that never skipped we've added we've increased the dividend and we're buying tankers. We do it And I remember saying to myself Wow, I've got signals here that suggests that natural gas I mean, sorry Nordic American tanker from just the chart formation in the monthly chart It should be making low lows and lower lower highs which it did and then a big spike to nine and then a plunge back in 2020 so all I can say is This is the first time With oil holding as well as it's held That nordic american tanker shipping. I believe that they have mostly oil. I'm almost sure that is oil I think that this is the first time in a while that the rallies have been sustained Now I think we're looking at it and I've got a kind of a stalling formation that I'm looking at here It's in legs see a 370 I if you want this as an intermediate term buy you prepare to sit tight No matter whether it drops 30% or not because you can see it going to 420 or 440. That's one thing I'm just thinking right now that dsx another shipper Yeah, that's acting a little the charge is a little bit better. What was the other one? Tk, wasn't that tk shipping? Yeah, they do different things at tk. That's a much better chart Yeah, I just don't like the chart of nordic american tanker shipping. So all I would say is as Even now as a tentative buy at 370 I don't I don't see any problem with that Because it's making a higher highs and higher lows in the daily the weekly chart says it could have a problem in the 382 This big candle right here. I don't know what the reason was that was four on the third of uh, April with a higher 389 The low 342 If this thing if this thing can actually trade in the four four ten area anytime in the next two weeks That's a really good action But it does seem to me to have supporting the 340 to 330 area So yes, I if you want if you start in a position and say that's fine It's a very quick a b and now's leg c but it needs if you want to take advantage of this sector Now is the time to subscribe to my gold report The gold report is a comprehensive look at the metal sector as well as the markets that move gold Which is the currency and bond markets new subscribers get a 30 day money back guarantee So you have nothing to lose every monday morning I published a gold report with coverage of gold silver bonds the xAU hui gdx as well as more than 30 different mining equities To sift yourself the types of profitable trades that are recommended within the gold report sign up now by visiting tfnn.com Don't miss out on the next great gold trade sign up today tfnn has just launched their new trading room the tiger zen 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 cash or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o bryan 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 tigers 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 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 in 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 opens until the closing bell sounds tiger tv has eight different shows with expert hosts To help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel And become the investor you were born to be tfnn educating investors 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 Yes, I forgot all about that. I used to follow this. I lost the notations, but it's easy enough just to get him back Scorpion tankers And that is Trading a 58 29 up $1.53. Now this one you see this is made higher high It looks a little bit similar to Nordic tanker and thanks 822 and the den the den Nordic tankers has been raising dividend two times last quarter and reduced debt and refreshed fleet with three new sues max Solid financials long long from two dollars here. My interest is very long term Yeah, that's completely different in that in that particular situation. I like it and I do I love the sincerity of the ceo except it was totally long and and when I do talking about tankers this tanked Terribly and he's kept on saying but then he got stopped He was he was not interviewed after a while, but he had another quarter where he was talking about it And he kept repeating the same thing. I think there is a difference and I do believe I heard him interviewed at some point can't remember his name but I like what he was saying But as I say before, uh, he's he was just totally wrong But I think that they are doing the right thing now And I have to tell you over the weekend as I I like to filter things through, you know, I have this this very long term Look at the market. I always base it on 1929s 1930s The similarities are just unbelievable The fact that people have got so much money now in cds that money is going to be put to use and invariably Go somewhere into the stock market with something related to the stock market um, I I just don't know how to square this all together with the with the emails and texts and stuff that or in uh on youtube the the Crash and smash and the end of the world I I can see it coming but not yet I still think there's a coda phase to come and the coda phase is going to be wild And it's going to involve the computers. It's going to involve people in their houses in their little rooms Just trading and trading like it was a game And when everything blows up It'll be Devastating because you won't know who was doing what Until you see all the for sale signs out there I mean, I have to be doing gloomer on day like this because I'm actually quite positive at the market We're still long took another little bit of profits the other day Looking for a nice pullback to start another whole series of buys You know just perfect time to have your portfolio. We I spoke on on in my overview on friday We went through the portfolios and let me just see what's going on here One one second, please Let's see Oh, okay. So question came in Yes, I'm going to do a bunch of things with questions But I also want to go through in sequence with what people asked me. So let me just see So I did the I did the uh The copper ones. Look at this mar. This is mar I did in the wrong place Mar is Marriott. Why is Marriott doing so well? I actually just go to this any of the sports Why are the Celtics games sold out? Why are Do you know the pride? You know what people are paying for tickets? This is not The depression type action that you would be expecting. This is there might people have Money and especially once they pull money out of the market and they have a kind of sitting there Some of their money kind of gets used So I'm looking at this and I'm saying I just don't see I I do see I keep saying be ready for 25 100 points 2000 points down down move at some point Just do this real quickly. I just to show you once again to remind you. We've had the If I can get this let me see if I can do that. Yep. I can't we've had Down let me go to the Dow. I end you We've had the Dow with the internal low and the residual low I think we're getting back up into the area where we could start to see Internal high and a residual high and then a pullback But this low here took in so many factors. This is the low of october We're still long from that low that that took so many factors economic social geopolitical It's just everything that I'm thinking this whole area here of 3100. So 31 000 in the Dow That I don't know if it will be I'm just saying my eye says that that could be a worst-case basis over the next couple of months If there is another big sell-off But in the meantime that low from october's health and we've every time we have bad news We've been rallying into the bad news so that we've got the cushion. All right enough for that So this is marriott. Why is the marriott holding the chaplain inside check a propellant zone? So well, look at that. Look at beer just right on it and then a sauce to rally Well, if it starts to take it out, I'll get serious about saying oh, maybe now we're going to have some really bad market action related to the bad news and if we start to see the marriott trading at 169 right now start to Trade on a weekly basis in the 145 or 140 area. I'll say, okay, something else is going on So I need to do that. So another question came in E N P H E N P H. This is uh E N P H This is N phase nice move up 17 Wow sub 17 dollars today 226 of 8 8 percent. What a nice gap up after the doji candle I spoke I think I mentioned it on friday. I said, it's just kind of stuck now It needs to start leg c. Wow as it started leg c in the day That's a leg b in the weekly a nice takeoff But until n phase really starts to trade in the 250s It this has to be treated first as a balance a decent balance And then we can talk about it in the weekly chart is going from a buy signal Hasn't done that yet. I have to wait for the entire week to close But the definitely the data is in a buy mode saying it should go to a d 233 is the 200 period moving average next question came in Oh, I missed it. Let me go back again Tiger chat Folks if just join the tigers then there is so much information there Um Let's be good. So I did that. I did that. I did that. I did that Uh N phase I've done that E N P H. Oh, I didn't tell you the support support for N phase is in that doji candle so it's in the I'd say between 210 and 206 should be very strong supportive There's a sudden pullback in the next day or two. Uh, that was there. Did that did that did that? Uh, let me look at the tigers youtube nothing yet Okay, here we go. Uh, next question was I haven't finished looking at the the market So let's go. So I did gold. I did silver. I did I did the dollar. But look the usd jpy That's the look here we go. This is the yen u.s. Dollar Japanese yen currency pair Nice leg e pushing away from the 200 period moving as you must spoke about that Friday said is hugging that line It needs to get the further away if it can get to the 135 for 28 I think I said it said 134 39 right now that area That says it's starting to push away nicely from the 200 period moving average It makes that at least the 133 70 200 period moving average good support The higher it can go other if it fails here, you can look at it under that as support But wait a minute. E U R usd. This is unusual leg c It looks everything about it looks like it should be a d But I have no choice. It is a c In the daily it's a f slash b in the weekly and a b in the monthly So the euro is actually pulling back a bit. Let's see where gold is right now gold is Gc. Oh gdx was the next question. Yeah, gold is now down 12 I think gold is now going to have that pull back. So will the market pull back together with Gold coming down and the dollar going high. It's we've seen it before And I suspect that I'm looking at here is just it it's exactly that that we are looking at a period here That says who who who? Be careful because The dollar often has shown some weakness in the general. It corresponds often to some week. So gdx Maybe Pulling back gold miners at 34 24 done 85 Puzzle chapter does a four recipes down three. I'll be right back So 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 in disease Selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave The chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices Get the opening call newsletter by basal chapman in your inbox every day First time subscribers also get a 30 day money back guarantee If you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors 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 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 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 direction shares to obtain a prospectus or summary prospectus Please contact direction shares at eight six six four seven six seven five 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 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 Down uh five s three down five this i think i'm looking at this week as being uh A choppy week with there's a chance that we we start to roll over here because we've got those Ds and e's in the chaff way methodology in the daily charts. We're looking at them very closely. So question came up here about murna Uh murna is madurna I just made a peak f under the 200 period moving average. It couldn't hit it So this f says it could last a little bit longer at 145 60 down 11 down seven I don't know what the story is but i longer term. I know that um, uh You look to this as a a potential a longer term position if it's a longer term position I suspect that madurna biotech and covet many other trials and such are going on I think that it's just from the evidence that i've Gleaned from what people have said what i've read This is a very serious biotech company I don't know whether they've done something that that it looks like the covet Rally to 497 to august of 2021 It looks like that's completely done now They have to restart the company to make it fashionable again in the biotech area So I wouldn't be surprised if it retest the 135 area 134 135 that was made back in the beginning of march And then I wouldn't even surprise if it goes a little bit lower But looking at this as a monthly chart that's trying to build support with the magti attempting the histogram starting to improve I would say that sometime in this year I wouldn't be surprised if it rallies towards The 190 To 210 area and then takes another breather. That's the characteristic of the site That used to be the characteristic until it became these the one of the you know the stock of the 2020 and 2021 period. So at this particular point be prepared that it can pull back now if you're looking to add to the position And I think you do have the position Um, I I would hold off hold off adding so talking about adding holding off Just give it a little bit. I want to see where this pullback stops if it doesn't stop at 140 Is it 145? I think it will test the low if it stops it can go sideways for a little while This is kind of what it does very often amazon uh There's no relation other than uh, people ask keep asking me about amazon. Where would you get it? And i've said for amazon right now. I think it's worth holding off It's done very nicely since uh, the lows it's screamed up from the from the 80s up into the 100 last one went to 105 Before that it went to the 113. I think area Um, so it's in a position that it's trying to form some kind of a base I think it needs more time the whole area of the retail area It needs more time SWN I that's a southwestern energy natural gas. I I think that I think it's it's like a It's like a An energy play that Saw the the down lower lows and lower highs based on natural gases move But it's actually a little bit probably a little bit independent So if natural gas actually rallies, maybe it'll it'll help profits And in this particular instance 5.11 was the high on the 11th of um 11th of april and today's high when I said one five 30 531, I think I said yes 531 and today's high is 531 So you've got maybe a peak c1 c2, but look the stochastics at 80 percent. That's good The magnate's good the nine over the 14 so we could chop around a little bit if at any point in the next I don't want to give it too long I'm going to give it until the end of april if at any point in the end of Between now and the end of april It hits and that's like two weeks or so whatever it is. I just need to check What is today 70 the one week? Oh one week two weeks. Yes two weeks and a day if if it can go if it can trade at 5 48 to 552 then that high that was made back on the third of march of five 72 becomes Very important as a magnet But you look it hasn't closed above the nine period the 14th period the black 14 period moving averages is above the pink Which is still very negative Even on that deflection higher just one week It had a green candle when it did close. Oh, let's just go from the week of the second of december It's just made lower lows and lower highs now. You can see the magnate in the week is improving. Yes. I think that you're right this is In your instance since you have patients This is the kind of stock that I would say to you start your position right here at 525 Um, I would add on strength under certain circumstances and let's talk to just give me a yell And we'll look at it again But on any pullback if it closes under 5 11 It's in a stalling formation yet again And that's really what you have to look at but in your case if you haven't got any This is where you could just start a small position next question came in as Yeah, so john, uh You like sting that's a scorpio. I I've had this I remember a long time ago when I had this it was acting better than some of the others Scorpio tankers look at that monthly chart. That is very strong. It's training at 58 point 60 66 if I had to draw a pattern, I'd say he has a rectangle formation It's like a little flag But it has a chance of making a cup formation and that's really most important nice dated up $1.90 So if this continues if natural gas is on its way up and so far, I love everything I'm looking at If natural gas is on its way up Then there's a trend line right here that I'd be looking at how it handles it This is where I should put it. I'm going to be a little conservative I'm going to go to the body of that second candle right there The top of the one that I'm looking at is the 17th of february 64 20 And then the one that I'm looking at is a long-legged doji. It didn't take out the high on the eighth of Eighth of march at a high of 63 22 the next day the high was 63 20 And so I'm taking the body of that candle so that we can get close and we're there So that says to me if this can close peak a peak b leg c I prefer leg c's to be very strong It's almost like the third wave of an idiot wave, but I'm not doing idiot wave here I'm just doing chaplain wave There's a cup formation if this can close above in leg c if it can close above 60 point 33 I'd say that's the action that you're looking at and yes, I do like it this question came in Uh, did I get the question here? Uh, another question for me. Okay, just scrolling down Okay, so this is what I want you to do as well So I've got a little time now before the break comes and then we do a final section What I wanted to show you is this the qqq Had a left side right side price time match on the weekly chart that said if it was going to break to the upside It needed to get as close as possible last week to the 324 level in the weekly chart in the chaplain wave inside wedge target repellent line It didn't do that for three weeks now. It's actually for four weeks. It's just been stuck underneath I'd say in the below 320 below 323 It's just been stuck there and this is saying to me. Yes. We might get distribution If there is a sudden plunge This we it needs to be this week by wednesday thursday And a close by the end of the week underneath the low of the 12th of april, which was 312 3 312.57 If there was a chance under that Then you are in a digestive phase and that could last a little longer You might use more time than price. You've got a lot of support in the three than the 305 area But if for what you never know what the reason is Maybe it's earnings coming out But if for any reason there's a spike in the qqq into the 325 area 323 to 325 That gets us closer to the price TFNN has just launched their new trading room the tiger zen 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 tom o bryan 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 dot 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? 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I have the 120 I have a two hour And that's really not I mean two the difference between a two hour and a five hour is huge So but let me just show you this something that you might be interested in the question really was it wasn't a sideways training band So yeah, we got pretty much the same chart So you see this rectangle formation here the longer the rectangle takes The greater the chances are that it'll make low lows It'll try to take out a base of support and that base of support would be in crude oil 83 20 Well, the low today so far is 80 135 Oh, am I talking the right thing apples apple 83 20s. That's the low 83 Oh, wait a minute The 81 70 so that's quite a bit low. It doesn't look like it to me. It looks like something's wrong Yes, the rectangle formation. So when I I usually look at the rectangle formation, we saw one earlier on today Uh, let's see if I can find there is here's your rectangle formation in the one minute chart The longer it goes without breaking out to the upside Especially if you can get to a d when it takes out the midpoint of the rectangle It probably can go lower which it did and then it tries to go back into the rectangle if it fails to break that midpoint I'll just do this Quickly the midpoint right there Of the crude oil There's the one minute chart. So this is one minute chart in the e-mini if it fails to take out that midpoint of the rectangle long Narrow rectangle. There's a chance it's going to make an h pattern and take out the low So the e-mini now is down six. So if you look at the crude oil Uh at cl it's got the same principle That I'm looking at. Oh, there was it was 120 minutes. Oh, it's there 120 minute chart It says if a if a convict above 83 82 35 in the next I'd say hour But if this takes out the low of the day, which is any anyone 35 Then I would have a target of the 80 point 30 area or even 80 later on today Uh, have a great day. Thank you for Steve Rose check out my opening call Yes, we do have a stock destruction national gas that's doing quite nicely right now. We'll see