 The following is a presentation of TFNN Trade what you see with Larry Pezzavento Call now toll free at 1-877-927-6648 or internationally at 727-873-7618 Now Larry Pezzavento Hi everyone, Basel Schappen sitting in for Larry Pezzavento's hour and we're looking at this live So this is the 27th of June eastern time 1106 a.m. And what we're looking at is the Dow is actually up 20 points of 31,000 520 after a huge There's a candle that is called and technical terms marabosa candle. No wicks huge green candle We've seen them to the downside seen to the upside over the past month And normally what would happen is I would say to subscribers to my opening call I would say what we can expect there are three distinct outcomes in a move like this off a low That was a major low with a doji candle low at 29,653 in the Dow what I would say is After this kind of candle Renormally anticipate either a doji candle small a very small trading range doji candle and possibly a weak Session the following day or this that day the day after the marabosa candle is a week a week session That's number one or Sorry, that's number two or What we're looking at is if this is a takeoff phase in other words if this is one of those lows that was made Where yeah, thank you very much, Rochelle. You you'd said and AII is the American Association of Individual Investors I read that there is what 70% or something of people are very negative the market 30 something percent and are bullish. Those are numbers that are very I mean I've given talks to that association in the Boston area periodically Those are people that it's a real mix But there are a lot of people that do a tremendous amount of fundamental Analysis and really do their homework in their own way So they've decided that they are just they've Actually, the other aspect is that I can't remember it was from the AII but from other Sources that I've read the amount of money that's been liquidated in other words the amount of money That's come out of the market is one of the highest levels. Oh, didn't I just read that? Yep, right over here. Did I read that? Yeah, there it is JP Morgan strategist Marco colonovic Indicated goes on to say this week should be could even be a 7% gain this week alone because of the rebalancing But then he goes on to say On top of that the market is an oversold condition cash balances are at record levels and recent markets Shorting activity reached levels not seen since 2008 you put that all together and I must say that the bias for me has been to think that this is where Certainly for my subscribers who have taken a lot of money off the table And because I for six months I've been saying build up a huge cash position because when we get buys they're gonna be fantastic buys This is the first time I've said this start to put that money to work other than short-term trading and The reason I've done that is because I believe there's a cushion But if you aren't able to get almost the exact low of the turn of whatever you're looking at and have a really nice cushion Then you're it's real tough For instance the position that we took the most we have a core long position from 2020 2020 on the 23rd of March, but most importantly what we're looking at here is This and we had trades long-term short-term, you know different positions of the diamonds of the dog DOG this last one at 30,100 That gives us In the diamonds that is a DIA That's the vehicle we've been using because that's the only way you can play one to one along the the Dow Most importantly at least gives us a cushion Because any pullback here if it breaks under 31,000 Closes under 31,000 says, you know what you kind of back to what you saw in all those other rallies But if there is something here that says we get you know the three outcomes after the Marabosa candle off a low it says Doge a candle with a week following session or a week following session of the Candace Friday's candle a week session today But then it has to move quickly higher. That's the takeoff phase Otherwise, it's just in one of those normal not the low but a low and even this is not the below wide because if you look at the semiconductor index look at this Going from 318 double top the last one was in January Plunges down to 201. I would say 318 down to 201 in a really important sector the semiconductor You remember I love to talk about semis as the the crude oil of the 21st century and 22nd century, this is the way it is Semiconductor chips are like the oil was for the entire world economy in the 1900s going to the 2000s and now we've had a switch from late 1900s to where we are right now with the semiconductors are in everything just about So they are as important as crude oil So with that said let's look at the crude oil and crude oil is up a dollar seventy-eight hundred nine point thirty one In the chapter we met George I'll just do this because we always have new people and of course Tiger Financial News Networks just always going around the world We have subscribers from all over the all around the world Let me just do this. I love in the chapter we methodology to try to find that the lowest most obvious low bar and then You start to see higher highs and I alphabetize them ABCDEFG. That's six Sorry 1 2 3 4 5 6 7 I should know that off to 30 years 7 7 higher peaks But it's at that 7th peak PG that other that that you might have a name change But really the idea is to go from a buy signal to a buy mode and the buy mode implies that it should make at least Four higher peaks to peak D. That's your objective And then once it's there you do an analysis to say are we extending higher? What are we doing is this peak D sometimes where you get the deepest decline? It could be just an immediate D and then right off to that E We got that right here in the crude oil peak E at a hundred. Well as a continuous contract I'll give you the price right now 121 46 still current and we took a dive down to the 104 level That's a big move down But look what we've come from and now what we're looking at is crude oil is in this higher quadrant this this rectangle formation It's forming a cup Formation and the cup formation says in the time frame you're looking at it should go to If it has a sharp pullback from the flagpole high It should go to a higher highs and higher lows and if it starts to do that you can go peak a peak B peak C and even a D just under right on or just above the previous high in this case that 23 and then you see if that's changed 123.61 high of the week of the 11th of March We went almost there. We went to 121. I believe it was right. Yeah 121 point 46 Two points below or two and a half points below and we pulled back So this is still current because the nine-period moving average Now what's interesting? Yeah, of course very personal mention never uses any of these moving averages essentially yet sometimes Technical aspects, so this is says crude oil is digesting huge gains and in that context Between a hundred and eleven fifty and hundred and seven I'll be back in a moment does that Time of booming inflation we are purchasing powers eroded. There's no better place to protect your hard-earned money than ain't gold This the golds flagship asset is the Monk Pod Gold project in the Northern Territory of Australia This is Australia's largest undeveloped gold project. We are talking a world-class gold project in a tier one mining district This is a large-scale low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction This the gold just completed the Mount Todd feasibility study Which resulted in a seven million ounce gold reserve in a 16-year mine life All of this combined with the approvals of all major operational as well as environmental permits This distinguishes Mount Todd as an attractive dearest party ready development stage gold project This the gold trades on the New York Stock Exchange under the symbol VGZ 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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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 Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019 Finishing at number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge Every day in his mastering probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter Mastering probability and you'll receive access to seven of Steve's educational webinars Absolutely free at TFNN. All our newsletters come with a 30-day money back guarantee So you have absolutely nothing to worry about visit TFNN.com and try mastering probability 30 days risk-free today TFNN educating investors toll-free at 1-877-927-6648 internationally at 727-873-7618 Folks we're back Basel Chapman City for Larry Piseventos hour. This is live We're looking at the at gold down 8 at 12 18 22 so I got a question I think I'll do this now because it's kind of what I wanted to do since I took took the time to be able to do Larry's show And I want you to go through some of the the commodities in the much greater detail So the gold contract remember in the subway We the object is to go from a buy signal to a buy mode to get you to at least a D Well, we got that D in gold Right here in the continuous contract at 8. That's his 10 o'clock on the 16th of June It went above the 200 period moving average, right? Look how important this line is this 200 period moving average. In fact, let me open it up real wide. Look Look, it's like it like as a seesaw like a sine wave above and below and below and below It just keeps doing that and then the speed D that was made at on the 16th at 10, whatever it is at 10 PM look what happened it pulled back sharp He went under and now that 200 period moving average of 1840 in the 120 minute chart is Serious resistance and we making a dreaded H pattern right here. It says if there's a close below. What's the dreaded H? Remember, I like to look at three basic patterns besides everything else. They're three basic patterns straight up straight down Cup formation art formation look a dreaded H because if it takes out that left side low You can go a lot lower. Look, there's a little dreaded H right there and it went a lot lower There's another big H in a little lower and on the other side of the coin is the inverted The reverse Y if you take out the left side high you can get quite a bit higher So basically what we're looking at is we've gone to a peak deep pull back Made all these arch patterns that failed and he has another one and it just says the mag D is starting to weaken It's gone with histograms just about to go and it's just gone negative in the hundred and twenty Sycastic couldn't hold above 80% for more than a couple of bars and now it's negative a sixty three percent unbalanced ones very oversold but it can get a lot more oversold and that just says be careful now We down eight points almost in gold. Look at this very interesting. Look at look at the opposite Opposite if you don't type it in the right place, it won't be opposite. There is crude oil We're in leg C. We've gone to a little mini peak D. There. It's also a Chapman waiver arch formation Right there. Look, there's your arch and failed took it out went to a low low and now you've got peak a That's a peak a and that's a peak a and they're all above the starting points of those are all a's And then what happens is it goes even a lower a than a b? Pulls back until it takes out that be it's it's be until it goes one one tick above and then it starts leg C Here it is. So my target in crude oil is the if it's a hundred nine point twenty nine in the continuous contract If I can get to a hundred nine point as sixty There's a really good chance it goes to a hundred and ten point fifty seven the 200 period moving average and look how it used to be fantastic Support till that peak e and then a pull back and they're in peak Then it kept running running and it failed and then the 200 period moving average became strong resistance And that's you'll see how it handles that I suspect it's going to go maybe a little above and then come back down That's crude oil. Let's look at the Wheat that's wheat Let's see failure pattern. Look at this. It just keeps going lower and lower. There's a 120 minute chart soy beans Ah a little bit of a rally peak a peak b C and that's in leg ds. It's been a very very small peak a peak cp Just a very small move to a buy mode And we'll see if that's able to hold. So this is a Oops Up a case on the way up lower case on the way down b C and we went quickly to a d. Let's see if that's hold the night of the 1633 level is the 50 period exponential moving average resistance. It's a 1626 right now. It's up 15 points That's a continuous uh soybean contract Only when it gets to 1659 Can I even think about the 200 period moving average of 1678? So we'll see and if it if it closes under 1600 at 1600 Yeah under 1600 at any point. It's going to make an arch and retest the lows. Let's look at We're looking at corn Khan Very nice candle often ugly candle earlier on It's trading at 743 down 7 So this is what I like to do when I got a very big picture other than the chaplain wave notations I love to do this. I draw this in and I say, okay There's a huge arch formation Let's go to the most important left side low and see if there's a measured move to the left side to the right side I'm taking this low right here And we go all the way in and I'm going to take it to this particular low right there Then what I like to do is to say is there and look from this low, you've got peak a peak b big Cpd peak e and peak f peak f is where you gotta be real careful And so now it's pulled back So this is green, but I'll change the color in a moment and he has your left side right side price time match Now what often happens is if it misses it, but it's on its way down It can take a little longer to extend below That's what you've got to monitor. But most importantly What I like to look at is How is it tested this particular support? So corn tested it once Twice three four five times six times Then had a nice spike couldn't get to the 200 period moving average made the dreaded h pattern Took it out But the rule of thumb with the dreaded h is if you take it out You've got to quickly rally because if you don't rally you're going to be retesting the lows Well, it it took it out it rallied up and now pull back sharply went under it But the mac d is holding well the stochastic is higher than it was before So on a purely technical basis this says, you know what corn trading at 742 down 7 right now It could in fact rally a little bit more you could try once again Maybe fill the gap maybe get to the 747 area. So we'll see maybe tomorrow It gets to 747 or today. So that's the 120 minute charge So I just wanted to show you some techniques that we've used Let me just do this e you are Yeah, usd. This is the euro You are usd This is the This is the euro usd dollar currency pair And what is it doing right now? It's trying to rally some oh it's going to a leg c That means the dollar is becoming a little more vulnerable look that leg c Stochastic starting at 46 percent if it was at 80 percent, I'd say wow, that's fantastic right now This is nice bounce But let's just look at this for the day for the 120 minute chart peak a peak Uh underneath it a little a right there b c and a d and then it continues high and it goes Uh That's a new high. So this is a b b c So the euro is actually doing quite well and where would the target be the 50 period moving average is 1.065 It's trading right now at 1.061. So we're going to be watching this Let's see if the dollar is having an inverse impact dx y dx y is trading. Oh, yes, it is there it is So yes, you're very big. Oh, we'll do this together Yes, you're very big arch formation basal champion semi-colari Presidential show. I'm hoping that back yet a very bad And I hope it's getting 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 metals 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 dx au Gdx as well as more than 30 different mining equities To see for 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'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 tigeresses 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 tigeresses as they share trading ideas news analysis and discuss the market action all trading day Even at night and on the weekends the tigers 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 Tfnn is excited about our new software charting program the art of timing the trade charts In collaboration with tom o bryan and using his best-selling 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 trader's 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 guardleys abc's 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 $79 a month we are so confident that you're going to love this new charting software that will even give you a 30 day Unconditional money back guarantee don't miss out on this incredible new piece of software Get 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, so what we're looking at is if I can just get this right. There we are Basel Chapman singing for Larry Percivento's hour We're looking at the dollar turning around the euro You saw the euro was making this nice leg seat to the upside in the daily chart and here's this is what I would be Joy, I didn't do it because uh My during the break as there were other questions coming in So I'm going to go to that high right there and then I'm going to do a left side right side price time match Let's just get this right there So that says that buy and this is the 120 minute chart It says buy Buy later today. Is that 20? Oh, that's the 28th At least by tonight or tomorrow if at 100 and 30 103.79 if 100 and 102.80 is taken out as support That low that was made at the 200 period moving average Of 103.42 on the at 315 on the 16th 16th. Wait a minute. Oh 10 days ago That will be tested So this is what we're looking at so this becomes green right here left side right side price time match There we are So we're looking at this as turning into a huge arch formation. It's like a bowl an upside down bowl right there And it just said and this is it and my target would be right here using this Right there and going all the way to there It says the moment that it takes out and that could be within the next So that'll be 1363 if it takes out a hundred three three in the next Uh Two hours or so that's going to be very that's going to weaken the dollar and then it can go to that low left side low, let's look at the u.r. Usd again Usd You are usd your currency pair So that means I need to open this up because this could have in fact a bowl formation. Yep. There it is a bowl formation Didn't even think of that. There it is. So that is a lopsided gravy cup. I call it ball formation Oh, look at that quick abcd in the center But still it's pushing away from the 200 period. Look how important the 200 period moving average has been now Instead of being a magnet It's going to become a propane because the magnet is good stochastic fabulous at 86 percent So I go to the left side and I say all right by my left side the first left side Goal would be right there And where would I go to uh, I would go to the little tiniest good doji candle that I can right there And I go to the right side green Okay, very simple. No, nothing's fancy with this technique here And then I go to the left side low, which will have to be over there To be able to draw the chaff wave inside which target resistance line. I don't have to take it from here Okay, and there it is and it says by There's a hundred and twenty minute chart. It says by Later tonight and maybe early tomorrow morning a test of this left side high of the at three o'clock on the 10th of june Of 1.064 is likely If it's able to take out the chaff wave inside wedge target resistance line Of 1.063 And then once it does that you can start looking at the left side high one step at a time All right, so we've got a couple of things there a couple of questions came in This is to look at apple because lana larry loves to look at apple peak a peak b peak c d E f So it's also getting closer to the turn to pre moving average, which was an incredible resistance area since back in April of this year back in the 160s it went to peak a starts another one peak a b c D e went to peak e and then failed And starts a brand new one and as I said we're in whatever we're in a a b c d e f we're in the f or it could have been a recycle goes within three bars after d we went to Uh, I'll do this slower. Okay There's a little doji count a lot of little doji turn around. That's what we got in the down That was it what gave us the clue that friday could be Friday a week ago could be a law of significance uh, this goes a b c d and the chamois methodology something i developed Oh, maybe 30 years ago. There's a chamois instant restart It says that if off to peak d in the by mode within three bars There's another new high you can give it an alternate count e slash a you could couldn't fact get an entirely new By mode to another leg d Unbelievable, but what a beautiful technique. So now what have we got? We got e slash a So I used to keep the now I've learned to over the years. We keep the same notation But once we get to a g we go g s s c So that says the 200 p removing average of of an apple of 145 67 Will be a target that you've got to get close enough to say Yeah, I would say that if we got to 144 50 That says whoa, you've got yourself a target of 146.67 So that's apple But in the patterns that I love to look at this is called the gravy the lopsided gravy cap This in fact is not this is an exact left side to right side Price time match and then it started to stall So you've used up more time Than normal, but it does definitely have more a cup formation than a lopsided gravy cup So this is what I would normally do left side over there To this low right there right the doji loan Put in an equal extension to the right There it is that green And look at that and that just says Using my technique a particular technique I've developed Uh chub wait inside wedge target resistance line is here Make it green Now some of this could be automated, but there are just enough refinements that I pick up within a split second that A computer just doesn't it's just it's too hard to ask it to do That's the reason why it's not automatically notated. I know Steve Steve Rhodes does a fabulous job in the chat wave of automation But there are alternate counts and I I like to get the alternate counts, but look at this That says apples running quite nicely, but it's still a lag it as far as I'm concerned And that's just telling me that this is a very select rally that the big winners that were big winners before Are still digesting huge gains and that includes apple because now you've got other leadership And that that makes this all very very important. What is missing in my work For to me for me to say this is the low. I'm not saying that at all I'm saying this is another low, but it's a little bit more than just a low I think this is one that and I'm not even going to say it has two weeks or three I don't know whether it's two or three weeks. I do have an idea, but I'm not going to discuss that because I haven't got At least right now. I don't any have any confirmation about that This is just guesses on my part even if they educated guesses. But what I am saying is that this has enough The short selling and the people that are out the market that are going to be forced to get they still don't believe this So if this week is a strong week, then they're going to have to start coming back in And that just says you've got room to the upside. It could be jagged But it says you've got room without going back to the downside of this particular point not yet That's all I'm saying. And that's really important. Um, so within that Context a couple of questions came in and we're waiting to go waiting to go Yes, so could could you do the the fang type stocks in the same way? Well, I just wanted to I could but I just wanted to do one thing before we go to break And I wanted to say the volatility index and this is something that very often talks about the volatility index Is up 26 cents at 27.49. It was down sharply on friday The fact that it's not in the 26s of 25s of 200 per capita of 24.78 To me says there are still money It sure is Are you in the market for buying or selling real estate in the bay area? Including the surrounding st. 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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 in 50 cents Sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer Try it risk-free today with our 30 day money back guarantee tfnn educating investors Are china a shares hot or not? If you trade china a shares now may be time to take a closer look trade chau or chad Directions daily csi 300 china a share bull and bear etfs china a shares in either direction Visit direction investments.com today an investor should consider the investment objectives risk 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 lc This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz A couple of questions came in, uh, and i know a lot of people like to i mean i i do it myself when i'm i have the chance And i'm able to i listen to our hosts here at tfnn because Everyone is such really terrific, uh insight into to the various techniques that they've developed over the years So i i do like that and i'm always know if i'm here i might be trading i might not be trading but i'm always notating everything i see in front of me Millions of charts now I don't know if it's a million yet, but it should easily be close to a million Over the i mean i've been charting hand charting in fact back in the 70s So what we're looking at here is the e-mini 10-minute chart has gone to a peak c You see how i've got these uh levels put in I'm doing my best to keep them here. I usually put them in if i want them at all Um, but most of my technique doesn't necessarily need that i get to the flip levels via other other areas So i'm just for now i'm going to take it away because it's i feel it's a little messy for me. There it is clear So you see how this 200 period moving average we didn't even need the 200 period moving average in the 120 e-mini the esu 22 Until we made that fantastic load about one o'clock Uh right here or one o'clock 10 past one actually on the 23rd of june and we started to move up And it went to peak d pulls back and you see that one of the techniques i have you see this green line Look at how it kept you in the trade all the way through to a second peak d and then a third gcc Pull back and then and then it went pink just briefly and went green again and pink Why because it was stuck in a rectangle remember rectangle A rectangle can stay in a can You don't have enough money in a rectangle formation because it can try your patience to its nth degree Because the moment it looks like it's gonna break up it doesn't it goes back into the range moment it breaks down No, it just holds the range and then one day it just suddenly breaks down in this case He went to a very unusual peak d and then i kept the notation here Peak d e f's And so brand new and f slash ag this was a little more complex But the whole fact that it was holding the nine period moving average kept me rid of positive about this is the e many And then it goes to finally a d and an e it pulls back and that was the uh at 6 10 on the 26th that was last night So what happened we went to a peak d at the end of the trading day on the 24th What be a hundred and fifteen hundred drawn on what it was a huge move to the upside Makes a u shape pattern But you know what i like to do if you measure that and you measure that Vertically look the technicals on this e were way weaker than the d and that's just be careful It doesn't say hey now you're gonna go into a major say just be careful Ghost pink and then it goes green again and it goes green green green to a peak d another d pulls back And this is very unusual this one is just my years of experience that i i didn't have any changes I didn't put an e slash anything i said i bet that's an e And i bet that the stochastic will not last long above 80 percent It's going to fail and that's going to drag the nine under the 14 So it went to a peak ever right there Let me just give you that bar that is in the 10 minute chart in the e many right there at 4 10 on the 27th 4 10 is last night 4 10 a.m Eastern time And then what happens it goes sideways sideways sideways green pink green pink pink Bomb pink and a plumbest way to Almost the four the 200 period moving average which has been rising and rising and rising and look what happened It failed just to break it and that was a big positive why because This stochastic was not even nearly where it was back at 7 o'clock in the morning That was at 10 o'clock this morning And the mag d did pull back and that wasn't the clue the clue was That the on balance volume gave you a nice v-shaped turnaround in the 10 Here we are leg c and we're about within a two three minutes away of going about 39 29.75 for leg And the 10 minute chart So I just wanted to go show you some of the techniques. I've done this live Showed you this is the five minute chart lopsided cup formation So what I do is I extend that and I just say okay The rule of thumb in a rectangle formation is that if there are higher highs and higher lows after the the high that was made You should see a rally To just under right on or just above the previous high that would be the high of 9 30 this morning 9 35 at 39 31 75 And then you could see a pullback and if a pullback goes halfway into the rectangle formation That happens to be the 200 period moving average be careful because it goes under that you could take a bigger time out In the meantime, what we've got is the s and p is up 10 points again I mean this is after the spectacular move. That's what I'm saying I did not want subscribers to even think of the short side only the long side even if it's very select And even if it turns out just to be very short term. I don't think it's going to be very short term I think there's a little bit more going on than that. So yeah, we go. I call this an e It hasn't taken out that e There's an e that high was usually do it visually. This one is within 25 cents. So you went to 39 29 75 remember as long as it's green you can stay in the long position This is where you got to be careful 25. They're going to 51 75. So that's an f That says to me now, you got to be a little bit careful. There is an alternate count possibility f b But now I just let it tell me because if you're long, this is where I would say, you know, take a little bit off And keep your long position and that long term position If you have positions in the e many on the five minutes, this is sorry a two minute chart If it takes out this level here, I get everything out 39 18 if that's taken out You want to be completely out but in the meantime green is good So I say I've got it. I've got a I've got an alternative counting. That's it in the um, let me now go to a couple other things because I had some questions coming in Could I look at where was it? Where was it? Where was it? Oh, yes, could I look at um altar el ta and also got to look at tesla So altar has done really well. This is altar beauty and beauty products made of p g s s c in the monthly I believe it's a seed should go to a d. I don't know but we'll see But there's no other way that I can count this in the weekly chart in a rectangle formation In a long narrow rectangle formation if eventually it goes to a d Be careful because that d if it takes that halfway of the of the rectangle could go all the way to the bottom That's where you've got to be careful because if it takes out the bottom on a closing basis That's very negative. I typed this in a while back. I said, this is what's called a Chapman wave unconventional flat base restart And it should go back to the level that was right there after p d and that was at 355 so I typed in back to 350s no matter where it goes to the upside. Well, it did it twice it went back here At 336.29 I would say that's back to 350s 236 and it ran up to a higher high But it was a p d and then it came down and made a lower low and then it ran up again So this says you know rectangle formation a rectangle formation can last a lot longer than your patients You have to wait for a significant breakout with the technicals So Alta is holding very well. It's trading at 405.97 down for 457 The day each other has a Chapman wave falling x formation Does it break out? It's done that once and it did a two one one two one expansion And then it's stored and now it's making a potential top formation. So make it simple a close above 4 29 46 the higher the 9th of june Would be really good action said you're probably going to take out that p d and a pullback Even just use that 390 There's a stalling stuck in a range of hiding What could I do? 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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 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 in 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 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 pesavento 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 Hello, so just real quickly tesla made a peak f dodgy candle high round about the 6th of june And has pulled back very sharply had a new buy mode in the 120 minute chart to the 200 period moving average It's stole there at a peak d I just don't see I think test is going to be a laggard I think test is going to use problem. It's it's uh, I don't want to gain to the reasons why I think it's a problem But look at the chart formation. It's in a rectangle formation It's made an arch made an h pattern held well as trying for the seconds already at a peak c Unless tesla can close on a weekly basis about 487 492 in that area. I just think it's stuck question came in about um yes, so, uh My service is the opening call daddy newsletter. Uh, we've we had big buy signals on the short term over the last week Um, we are long the dow. We are long the qqq. We are long one of the ETFs that has just been batted batted and batted in the tech sector We're also long a particular Sector that is just had no favor whatsoever for maybe a year and a half or so and uh, we got it at Very low down single digits. I'd love for my subscribers to have prices in single digits double digits triple digits A mix so that they can you know people have different portfolio accounts And I prefer it that way. I just deserve everybody a chance And uh, we'll see what happens because this is going to be a really important week I I I'm very positive right here. I'll I'll change if I if I have to change but so far This is really good action and all I can say is that it's it's very selective. Look at the way I mean bm y this is bristol mias Look at this all-time high. Well almost an all-time high. Let me just look at the weekly monthly chart Yep, all-time high and in a leg. Is this an old e or a brand new a if that's the case These the pharmaceuticals are going to do very nicely led by bristol mias. So this is very selective Don't be afraid to to really step in Uh, you know, we we're a long ibm We're a long ibm from the 136 area. It's at 143 right now. Why because look how it held through this whole turmoil It's been closer to it's yearly. Yeah, hi In the lows. That's a good sign Hey, have a wonderful rest of the day. I'll be back tomorrow. Hopefully Larry will be back tomorrow. Stay tuned. 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