 The following is a presentation of TFNN, the Tiger Technician Hour. With your host, Basil Chapman, call now for free at 1-877-927-6648. Good morning everyone. Technical Friday, we'll be doing a lot more based on the Chapman wave methodology. I explain things as I move along and I think this is really a critical moment. In fact, I do not like to see a peak D in the Chapman wave. I'll make this start right from the beginning. I do not like to see a peak D, the fourth highest peak, unfold underneath a previous high of D, E, or F, or G because it means what I love is when you power higher and leg C just takes out the left side, form a high, even if it's a recovery high, but it's a left side high and you take it out and you've still got D to go because in the Chapman wave methodology, we anticipate from a buy signal to a buy mode, there should be four higher peaks at least, peak A, next one's peak B, one penny higher goes to peak C, peak D then is a fourth one and then it can go E, F, and G, but a D other things can happen. And if that D is underneath the previous high, very often it's telling you that there isn't, unless you're coming off major lows and we're way off the low from October. So that's different. When you're coming off major low, obviously you're going to make Ds because you're coming off the low, even just a little bounce can take you to peak A, B, C, and D. That's very different. So I'm looking at this and I'm saying what's in store next week? And I think that by today's close, we're going to get a tremendous amount of information because there is so much in the way of, there's so much in the way of bifurcation on Wall Street, they like to look at the two separate actions happening sometimes in the same sector. But in this particular instance we've made, we went to 34,082 today. Yesterday's high was 34,054. So we've extended this leg D, we've done this leg D, once we broke above C, we've gone 1, 2, 3, this is the fourth candle above C. But look, the 9p moving average is way above the 14. The mag D is very strong. The slow stochastic is fabulous because it's flat, holding 93%. On balance volume is a little bit overboard. And look at this gray line right here. There's a left side chart. That is the relative strength index and that has been rising. Daddy chart says, yes, you could pull back, but there's still internal strength unless there's a move that takes you below 33,000, we're at 33,894. I suspect to get this 9p moving average to cross the negative, it would be very bad news coming up soon. And you'd be trading way below the 33,368, 14p moving average. You'd have to go towards the 32,900. It can happen, but so far all I'm saying is I said to subscribers, we're not doing anything, we're not buying anything today. Yesterday, on Wednesday, we bought a small position in the three times long that was the S&P as a kind of insurance policy, as well as a potential trade, if the Dow was to fail after that big pullback on Wednesday at about three o'clock. But you know what? Our three times long UDOW held its stop and that continued much higher yesterday. So we've raised the stops and everything. I'm looking at this and saying, okay, let's see what happens next because we're in leg D and here's the other thing. You see the weekly chart, you've got a pattern that I call the dreaded H. Let me just show you what the dreaded H is. If I can find it right, oops, what happened to that? Oh, it's covered. There it is. So the dreaded H is when I like to look at three basic patterns straight up, straight down, cup formation, arch formation, mix of one and two or one and three. In this case, one and three because you can see even on the left, you look, there's an H pattern that failed. And with H pattern fails, if it takes out the left side low, especially if it's only a peak A or a peak B and it fails at a peak B minus, it can go a lot lower. Very nice on the upside when you get these reverse Y patterns. But look what we've done here. We've done an arch formation, that's the H pattern, took out the left side low. I usually give it two to three bars to close above that to say, hey, maybe there's strength. Well, it did close above this low of on the week of the 23rd of December, 32,573. And then what happened is it rallied up and it went to what I call the chapwave inside track repellent zone. Until it becomes a propellent zone is a repellent zone. We had one of those here and it took it out. I didn't actually started off there. And we got our one to one to the upside, which is basically what happens as a potential when this is very strong to a break to the upside through resistance. In this particular instance, we stopped dead right on the line. Today's high was right there because the S&P, the S&P has got the cup formation and this cup formation will break out like this reverse Y to break out sharply. If we can get to leg D, which is above 4195.44 in the cash S&P. Well, today we went to an E in the daily chart, the one to one to the upside. Actually, now I can move it to there, to that line. And we've done it almost exactly one to one parallel motion, but now comes the issue. So once again, we're struggling at the monthly chart of the inside track repellent zone. Look, time alone will move us out of this. Not if we pull back sharply. So this says to me, we have run the course to the upside. We're at resistance points in the weekly and monthly charts, the QQQ, which is what I like to see moving either parallel. Sometimes I like to see it leading the down the S&P because it says that those high beta stocks are really showing buying potential and buying action. Not seeing it here. We did see it to a nice bounce of that P&T. It's made a cup formation, it's stalled. See the weekly chart, it's done very nicely, but it has a long way to go to get to the 334.42 left side high from last year. That was I think in September. Let me just check. Should have put the date. That was August. And now what we're looking at is the monthly chart has also got a lot of work to do the MACD is rallying, but it hasn't crossed positive. Stochastic is rallying, but it's still very weak at 33%. But you've got 94% in the weekly chart of the QQQ. The MACD is strong. The nine is way over the 14. And the daily has just crossed negative in the MACD. Stochastic's weak at 67% on balance of volume is weak. Yet the nine period moving average is still sharply above the 14. My input here says I put a lot more weight in the nine period moving average. Let me just show you something as a good example. This is the move that we saw from earlier this morning right there at 931. As the market opened, the nine period moving flipped positive in the one minute e-mini chart. It went to peak D, E, F, and G. I could count in another way as well and say that peak C1, C2 was at top and this is a brand new peak A, peak B, peak C, peak D. And then what happened with the doji candle? It made this little cup formation fails and the nine period moving average crossed negative right there. And now it's pink and it means that there's a cell mode going on in the one minute chart. Look at this almost Eiffel Tower move in the 10 minute chart. Spikes swapping up and then swapping down. So now the day actually at 1020, this is exactly where I always say this is where the other part of the market day begins. And we will look at JP Morgan and many other things. I almost mentioned that Jen, all right, I'll look at some other questions that came in. 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. 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.com. 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.com. 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Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. 927-6648, internationally at 727-873-7618. My folks, we're back. So, a question came up about slumberjay, slumberjay, oil and gas driller is bumping right up. This is a pattern that I call the champion wave. Let's go to this right here. This is called the falling axe. I just like to nickname these things basically what it is if I cause it something sophisticated like a declining cone formation. Probably we'll get a little bit more traction in terms of the vernacular, but actually this is a beautiful technique. Look at this. Look how this trend line, I'll make it green. That's the resistance, but I like to do something else. A long time ago, when I used to hand draw the charts, I found that there was a fantastic thing that happened. It was easy to see visually if you draw the line in, but you wouldn't really see it if you didn't do that. Well, look, this I put the champion wave inside track repellent zone. It's just like a 16th or so of an inch and it's a parallel, two parallel lines making a channel, a little mini channel and look how the resistance has been over and over and over for the decline since it made its high back in January. I think it was at 59, was it 5945 on January the 18th, slumberge, well, and gas, SLB. So what happens is, right now, the Magdy's good stochastics at 78% and rising on balance volume is rising, 9 billion moving averages over the 14, this is pretty good action for rig, I mean for slumberge. And slumberge says that if it can take out the left side high of the third of April of 53.81 to go to 53.82, that starts leg C. Immediately I can look to the left side to say, aha, the next resistance will be the third of March with the price was 56.14 and it also says that this whole area of 51 to 50 is pretty good support. It's not one of the patterns that I like very much. This is the reverse Y pattern. It was a little too deep, but it needed to fill in the gap and it filled the gap, almost filled the gap and now it's moving to the outside. That's important. Now you can see the weekly chart has the same flag patterns expanding code. So this is really important and the Magdy's improving, stochastics improving, the monthly chart is still very good. So what I'm going to say the question was, could I look at it? Well, I'm looking at it and I guess the question is, is this the time to be buying it right now? Let me just look at rig. This is, it had almost the same pattern. It's not acting as well, trans ocean, but the monthly chart is still pretty darn good, so is the weekly, even though it's consolidating. Yeah, I'm going to say SLB in your case, because you like to look at things and give them a chance to have a bit of a wide stop, so you can have the chance of a more intermediate term buy. I'm going to say, start your position. Start your engines right now at 52.78. In your case, I'd have a two-point stop, but what I would do is if it takes out, as it moves up, if we can go above today's high of 53.15, if we can go to 53.32, I'd say somewhere around 53.32 by Monday, then I would start to raise the stop. I'd have a trading stop just at the moment. The moment it goes to leg C, give me a yellow, we're looking at it together. That's if it does, but it has the support in the, around about 50 and a half to 50 area. So that's that. Now, a couple of questions came in, but I'll deal with them as we move along. So I want to go through some of these things. Let me just do this one more time. So into, the Dow is now down a little bit more. A fabulous move yesterday, but I said to subscribers, you can expect some give back of the last hour's rally, at least today, if it doesn't gap up and move much sharply higher immediately. So here we are, and this is a 10-20 timeframe, yes, the new, this is where a different clientele in the market comes into the market. These are people who have been waiting for the open and people used to think, oh, there's people in the very beginning of the opening session. Those are the dummies. I don't think so. In fact, I talk about a two-click session. In other words, if you're trading the futures, there are times where the market pulls back early morning and you can go click long and you can sit there. You've had more one-click sessions, two-click sessions on the long side where you click in and you click out late in the day or at the close, then on the way down. We did have early on with the bank crisis. Yes, obviously, there were two-click sessions to the downside, but what I am looking at here, and I said to myself, I don't think we've got a two-click session here today at all, unless it's a two-click session to the downside. And that might be the case. But in the meantime, back in the range, we're giving back some, and it is Leg D and it's still Leg D in the Dow. And just as a technical Friday, I want to relate this to questions that have come in. So look at this, yes, a candle that looked really great early on as the S&P went to 4163.19. It's now at 4135, and it's at the low of the day. But the MACD and Secassik are still good, so I'm considering all this is going to be 4,000, all the way to 4,100, maybe even 4,090. I think it could be strong support, and you should expect some kind of a pullback. Now, I wanted to show you this. Let me just move that away out of the way. There you go. Whoa, I didn't mean to do that. There you go. No, I didn't mean to do that either. Oh, come on. Okay, everything's back to normal. What I wanted to do is to show you something. So the questions came in. The VIX index I discussed yesterday, I said, I don't know where I typed that, but let's see if I can type it here. The VIX index was trading down earlier on, and now it is trading, and now it is trading upper penny at 1781. What I said was, in the way I look at the VIX index, I believe something, just like natural gas, I think something so unusual has happened to the volatility index that it doesn't have the same import that it had before. It's still very important, but it's only important when, at this particular point, the VIX starts to go into the 2180, 2230 area and hold. That's when the Dow is going to have strong, very sharp triple-digit down moves, the S&P 90 points down, et cetera. So at this particular point, we've gone underneath the trend line support. Now I'm going to add another trend line support parallel to that, as if it's a Chapman wave inside track support level. Whoops, let's just do that. There it is, and that takes you to exactly where we are, and it says it is getting to an area where you can't ignore it. There's a chance that over the next, going into next week, we could, in fact, have a pretty strong balance in the VIX index, which could start to impact the general market. I don't see it yet because the 914 people moving averages, the 914 is a fantastic way to look at the markets. It just gives you, it can get you, stay in the trade much longer than you would normally anticipate. That's number one. Number two is, I wanted to get out of that to show you that in the gold, now gold is down deeper, it's down 33, it is in a leg G slash C with an instant restart there, a potential, meaning that you could still go one more pop to the upside, but I'm suspecting that we could put it together with a silver. Up against resistance in the Chapman wave, left side, right side, price time match, that's the bar symmetry, and it's broken out above it, and there's your Chapman inside wedge target resistance line, and we're right up against it. So I'm suspecting that you're about to see the mechanism pull back a little bit, and that might be a change of, I have some questions that can get you, but by the way, I just wanted to show you that crude oil is holding quite nicely above the 200 period moving average. 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 in bond markets. New subscribers get a 30 day money back guarantee, so you have nothing to lose. Every Monday morning, I publish the gold report with coverage of gold, silver, bonds, DXAU, HUI, 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. 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There's a sudden spike to the upside and then there's equally sharp drop to the left to the right side and it looks like an uppercase A and then I usually put it in, I fill it in, I put it right there to say there it is and what I said to the in the den this morning, I said that early on this morning the 4157 level is going to be very strong. That's the key support that we're looking at. Why did I say that? Because the 200-period moving average in the 10-minute chart of the e-mini is at 41 now it's at 41.58 and there it is and I put an X in to say at about 940 based on my methodology there should be a lower test of that level but in fact what we did is at 940 that's when it spiked up failed and now we're coming down and so it's about 40 minutes late but there's your there's your test of this trend line but they also did the narrow rectangle formation. I don't know if I want to talk about that right now but it's a technique that I talk about very often and it did make a PG in the in the one-minute chart I was I was busy yesterday there was nothing I can do I couldn't do any trading I probably could have but I was so busy. So okay so that says the 41-47 level is going to be what we're looking at let's just get out of this I want to do some other things. So I want to say crude oil is rallied now it's sort of stalling the TLT. TLT has had a very strong move to the downside stuck with it remember I said the TLT is in a rectangle formation I have so much respect for the rectangles. I did a webinar if any of you if you are if you are a subscriber you can go do any one of my eight nine ten webinars I discuss it in almost every one of them and what's really important about this is that oh my I forgot the question I think I wrote it down I had a question I think it was Mr. Bill asked me and now I can't remember if this was the question let me have a look I'll check it out I think I wrote it down so I'm going to go cover all the questions in a moment oh gee how on earth did you know that I looked at that this morning and what a mind reader Basil what is a good entry point on TELL I did work this morning and I thought okay I'm just not doing anything today we've got our positions good positions I don't want to mess around so TELL I'm going backwards now TELL is tellurium I believe it's tellurium yeah it's it's at a leg see I like the action very much I put it in my newsletter did I I thought I put it in my newsletter in that top paragraph where I say these are things we're looking at in tomorrow my overview I didn't put it in there huh but I did highlight it down at the bottom yeah so anyway it's not ready yet to for an entrance right now I'd like a little bit of a pull a little bit more of a pullback I would just say looking at it as a a turnaround potential this is TELL trading at 1.63 down 0.08 big percentages when you're in a low price start it's almost five percent down yeah in your case you know what I'm going to say just have a little nibble right here at 1.63 nothing more than like whatever position you were going to when you would take just get your foot in the door just a tiny little bit and let's watch it together I've got it on my list of watch stocks because it has the potential to move quite sharply this is the first time it's hit the 14 period moving average and first in the first time it's had a an intro interweek close above the four 14 period moving average since it broke down back in September of last year it was up in the fours so it's a good sign to say the technicals are really improving that's the reason why I liked it it's kind of tricky because it's in an area tellurium it's just it's I'm just going to say let's nibble here at 1.62 and let's look at it again I'll put it in Tuesday we'll look at it again it's the Monday Tuesday but Tuesday is really the day tell I got it there okay in your case you're nibbling and in your case I'm not going to say have a stop because you know how to handle these things it's a very it's a very small position so even if it drops 30% it's it's it won't affect you in any way because this is your pilot light for this particular stock all right now I'm going to go back to my order and Mr. Bull if you can type in what you asked me earlier on oh you asked about the fibs that's right okay let's go back to that so I you know often put all the years I've always I had great respect for the fibs because we discussed so often I kind of use them just as a visual backdrop I don't use them like like Larry does who actually trades very and Tom O'Brien you know and Steve wrote there are a lot of people here that really look at the fibs and Tommy Jr. has been talking a lot about the fibs lately I put them there but I do find they get a little messy in my work I just treat I treat them as something that I need to monitor because I think a lot of people are looking at it but if you're looking at the fibs in the in the daily chart I took it from the high that was made and this is going to be a smoothed out contract as the continuous contract my price here is 93 87 on the 7th of November so I'm just using that and you can see I'm actually amazed at how many times the fibs miss when you've got so many lines but if you use it well and you use it accurately there are times where if you use them in a chameleonic way in other words if you use them monitoring them and changing them appropriate to the time period that you're looking at and it's appropriate to any changes that are made in this particular instance you can see I haven't gone to the low now I've gone to the low and now it's a little different but you can see that the 81 to 82 area not the actual number has been incredible resistance for a long time and it's right here resistance I prefer to look at the 200 p in moving average to me that it's a way more it's flexible it's not straight line sort of horizontal line it is a moving line that the internals of the actual price that you're following is giving you the exact levels it's not just doing it as a as a mathematical formula it's doing it as an internal it's called a mathematical formula which changes slightly and you can see how it's moving down down down and that's the saying that the the general price of oil has been moving from lower highs to lower lows consistently and this is the first time that you're actually getting higher highs and higher lows so that makes that important so I hope I'm explaining to you the way I use it in the in the methodology I combine it and in fact in this particular instance I'm about to take it off because for my purpose I find I've got other indicators that are way more important look the 200 p in moving average of 80.49 means if you start to close under 79 you you start to fill the gap but holding for it's about a week and a half that is trying to move away to the upside of the 200 p in moving average but it hasn't says that crude oil with the flat stochastic of 94 is really good the magnate is good and yet it hasn't had that extra skyrocket move that it needs with such a good stochastic so it says there's a lot of resistance right here not that it's the magnet of the 200 p in moving average is defying the pressure to push higher at the moment so that's how I look at it the other times where I look at it and I say isn't that remarkable how the Fibonacci number hit exactly but as I say I use so many others look at this the technical tool I used in the weekly chart remember I said someone asked me about it and I said if I use my propeller shaft methodology this rectangle and that this vertical I only use the rectangle because I wanted a vertical line and this horizontal line would give you an appropriate move to the 62 to 64 60 level in crude oil and went down to 64 and now it's ready back up where to the resistance I'll be right back there's something that you're going to talk about puzzle chapter type of conditions our dollars down 160 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 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 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 principle the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor for side fund services LLC this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz because there was a statement in the uh in the den about uh kiga q is a rogue wave or at least the spike that we were talking about this eiffel tower spike so let me just show you something i i just did this during the break um there's nothing here although i'm looking back and you cannot be wrong when you're looking back look what i'm talking about um the nine period moving average from the low that was made this morning the gap down low and then we start on the q q q so it goes after the bell so after the 930 bell we go alphabetically peak a b c d but the mac d is still so strong and the nine is so strong over the 14 i like to just continue the alphabet until it goes e pulls back goes to an f and then it starts to turn down and almost immediately across the nine period moving average which was positive crosses negative and then what would i do i choose the the cup formation if i can't choose my eyes says it's too long to use the left side rise at price time match to the vertical line the plum line i use this right here and what did we do we get an exact number of bars from the left side to that particular point to bam right there i mean look at that he said not amazing and then look at the q q q 10 minute chart right there it went to a peak did pull back actually did the nine was still over the 14 i have a tough time putting it down arrow when that's the case but the mac d did turn down the stochastic turned down then there was that sudden news so this is that same thing that eiffel tower straight up straight down goes to an e fails now we've gone underneath that so just i wanted to do live in the the the patterns that we're looking at and they repeat over and over because this is just the market is just a reflection of human nature it's a price point of human nature that's all it is in the market so let's do so now i had a couple of questions that i need to get to right away so um so crude oil is at peak c it should go to a d and then we'll have a look to see how far does it go up towards 85 or does it come back to retest the 200 period moving average of 80.49 and that reminds me on wednesday we've got um uh because there's going to be a webinar teddy keg stat it does fantastic work i mean you remember a year and a half or so ago he was talking about crude oil skyrocketing he just he does fabulous work so he's doing this webinar check it out on the front page of tfnet now quit let me do the questions i i'm i'm going to do them as i i wrote them down here so um i saw bba i i know we always get discussions about this and then we let me see if i got it so bbi was one that we looked at this is big bear dot ai holdings i can't remember if i had this all notated um when we looked at it the other day where are we now so it made a peak c in a pull back and there was a left side right side price time match i used this low as the um the fulcrum right there i i can't remember did actually did we do i think in the break day today a couple of days ago i was doing work on this and then i forgot about it so it came up this morning bbi i think it was bbi and look what happened it went to their leg d where's leg d from the plumb line i always liked bumping to the left the grand canyon cliff to the downside and it takes it from the the bar right here on the 20 20 second of feb with a high of uh 365 comes all the way down to a low of one point uh 1.51 on the 20th of march and look left side right at price time match with a chap wait inside which target repellent line green on the way up red on the way down and it said that it should buy the 14th of april try to get to that level of this high right here which was three uh three dollars and 79 cents today's high 355 but it is in leg d so i hope that it helps i can't hear what was that dan i can't remember i wrote it down and then i so now i looked at it okay so it's in leg d um it makes the three three 15 no it makes the 292 to 288 area the support that must hold any move and it has to try very quickly to try to get to the level on the left side we're looking at next question was neo so uh gt said calls on neo oops i wrote neo on the on the actual chart let's just do it this way and i owe this is a chinese electric car company so calls you know i'm not looking at it that way i think this is just stuck in a range um it did that beautiful cup formation but then it gave back way too much so now it's just stuck in a range i even drew this in as a butterfly uh was that butterfly well god me a godly pattern i can't no it's a butterfly uh one of larry's some time ago and i forgot all about it i just looked at it right now and i said oh look at that uh but that's the h pattern that goes to a lowercase m-pay remember a lot of these patterns i'm discovering over the last couple of weeks that the patterns that i've been talking about for ages in my cd from 2005 cd book i discussed these patterns and some of them i'm learning have other other connotations for uh for some people so for larry that's the that's the godly and now it's had a rally but now it's fading so i don't see anything much in neo next question came up as um uh oh google googie i remember i always look at google g o o g i never looked alphabet i never look at google a shares or b or whatever it is i look at what is this google c shares i don't think these are the tradable ones but it doesn't matter this is the pattern i like to look at the others mimicking exactly so this is peak a peak b peak c there's your peak d now you remember the pattern we were looking at and i said it's got to go nicely above that and the s and p made a peak e what happens next is going to be very important i'm calling this an e right now it could be an alternate count if it takes out the side high i'm going to call it an f i actually like this pattern very much i drawn in the cup formation earlier now it's extended much it's taken a much longer time to to unfold but i do like it i think it's trying to make a significant low from the um october low i think it's trying very very hard to create a base from which it'll break out at some point maybe in the summer and get to the 120 to 125 area to say phew i've left that area of the 90 80s and 90s just i'm done with that but it hasn't it's not done with it just yet right now it is in leg d in the weekly chart i like it if you're along i'm just going to say i'm not going to interfere with your position if you're along i would stay long but what i would say is that if next week and next week i think it's going to be very important because in a sense i think we kind of we're getting a little bit overboard emotionally that is that's a very different thing i don't know how to gauge that that's not the vix index it's just it's another way that i look at it and i'm just saying to you this in essence is a cup and a handle formation and my suspicion is that even if google breaks to the 112 or 13 area it will come back and test the 106 to 104 even 103 the 20 the 200 pound moving average i like it very much i think it started on its way would i add to it now no it fits in the same category as amazon fabulous move nice move off the lows not as good as google's action but a nice move and now it's trying to establish now this is where i have used the Fibonacci's and you can see Fibonacci's been good support and good resistance so i'm going to keep it there i don't like things that start to get a little bit messy but i am going to keep it there the weekly chart needs a lot of work so i'm putting them in the same category i'm saying google's stronger than amazon amazon has to do with retail and that tells me that retail is going to stall a little bit longer so my thinking here is that amazon is going to be stuck between maybe 100 and 105 106 and support in the 98 area for a little bit longer that's my impression down down 144 i'll be right back basil chaplain tiger technicians out 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 tigers 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 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 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of signing up subscribe to the fibonacci 24 7 newsletter today tfnn.com 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 I thought so question came in about ethereum ethereum i happen to have done quite a lot of work for subscribers but we haven't got it and i keep missing it for mara which is the same sort of thing also in the bitcoin area i've already done the work there that's had a very nice move to leg e this is a leg c in the weekly chart and it's just coming off the bottom in the monthly marathon digital holdings so ethe actually has a similar pattern in the monthly but i actually like the weekly a lot and the weekly chart has gone for the daily chart has gone to a doji candle g-stash making the 10.13 ethe is a symbol trading at 10.77 up 29 cents and it makes the 200-period moving average of 10 13 really important so the question is an analysis of it well as far as i'm concerned this is in play however at this point i have to say the nine-period moving average is way above the 14 it's way above the 14 the 200-period moving average is actually way above i prefer if the 200-period now is below so this just says that the whole area of 10 30 to 9 30 is going to be key support on any disappointment in this particular area that can happen but what's really important is the cup formation that's formed in the weekly using this fulcrum of the exact low that was i think in either january or december we've gone right to that point we just a few points we're maybe a few cents away from the high of the 11 30 level of the week of the fourth of november but i like to bump up against the grand canyon wall on the left on the way down so that says that this is a good left side right this is the week so if it goes on for next week i gotta move that plumb line a little bit more but in the meantime i like it where would i get in oh it's i it's tough for me to say right here to get in what i would say is in your case you like to look longer term i'll talk about as soon as i return oh no oh that's the end of the show and i still had more to look at