 The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. Toll free at 1-877-927-6648 or internationally at 727-873-7618. Now Larry Pezzavento. Everyone, Basel Chapman sitting here for Larry Pezzavento. Tough road to hoe here, but let's get going. We've got the Dow futures up 24th. The Dow closed on Friday down about 110 points on Wednesday. Day before Thanksgiving, everyone had a great Thanksgiving. $28,174 all-time high. That is important because within the context of what I look at, Larry's looking at Gartney, he looks at Fibonacci and he looks at the expansion of the Gartney to the butterfly. It's very interesting that so many times I find we're on the same wavelength using different techniques. I look at archers and cups. In fact, let me just do this very quickly. Then we'll get to the nitty-gritties of what I do. My service here at TFNN is the opening call lady newsletter and at noon to 1 p.m. Eastern time, I have my opening call. It's my daily newsletter and the target technicians are, of course, it's my 12 o'clock show. So here we go. I was looking for a straight line move that's either down or up. I'm looking for arch formation or a cup formation. You can get a combination. It's just the three patterns, straight line, arch or cup. You can get a combination where it makes what we call a lowercase h. I make it red because if it takes out the left side low, it can keep going down and green the inverse y pattern where if you take out the left side high, it can go higher. So just three particular patterns, straight line, up-down, arch or cup and then a combination. In the chapter we've methodology, which are to identify the lowest low bar and then every successively higher peak gets labeled alphabetically in order up to from an A to a G, seven peaks. It's when it gets to the fourth highest peak, peak D, that other things can happen. So what am I looking for? Lowest low bar, count the peaks, fourth highest peak. Other things can happen. You can recycle the whole brand new buy mode. We'll look at the dollar in a moment to see that a peak D if you had your deepest declines. Let's get out of this and I'll show you what we're doing. So we just have the cup formation. We actually did close above the left side high of about the 18th and the down and went to 28174. Close near that high and that was good. So it's two sessions. We're close above the left side high. To me that's important. Most importantly though, I look at moving averages and these moving averages in this particular instance here at the bottom of set of moving averages called the mag D, the moving average convergence divergence. You can see that it turned down. I circled to say that it's now flattening out and the slow stochastic, which is trading at 91%. And I say over 80% is good in the 90% area is really good and above 93%, 95% in that area is absolutely fabulous. If the stochastic holds flat, if it starts to reverse and go down, you've got to be careful. This is the Dady Charling left in the middle of the weekly. You'll see there's two trend lines going up here, green and red dashed lines. I'll call that the Chapman Wave inside track repellent zone. If it's on the way down, it becomes the inside track propellent zone or support zone. So let's just go real simply through. You see the different cups and arches, like a sine wave inside an up channel. So it goes up, then it comes circle, then it comes arch, cup, arch, cup. And in this particular instance, you've had a very sharp move going right to the pink line, the dashed pink line. That's the resistance line in the daily. I'm sorry, in the weekly, I'm calling this a brand new leg B, which says that we should pull back, then make a C, then pull back, and then make a D. And that could take us all the way into the end of December, maybe January, and then we can expect a much sharper decline. But the monthly chart is in leg D. And if there's a new high above 28,174 at any point in December, it continues as leg D. Let's have a look at the YM, which is the Dow Futures. That made a new high today. It went to 28,197. So it went above all other highs. And that says that in the monthly chart, the futures have gone to a leg D. That extends the D. You can't get a big D with a lower high bar until January in the futures. Now we might have a divergence. The Dow might not make its all-time high in December, and then you've got a divergence. I'm anticipating that because of the strength that I'm going to talk about it now, because it is so important, FG. Let me just put this in here. So this is alternative count F, B, and a G slash C. All right. So what we're looking for, we're always looking for that fourth highest peak. There's your leg D in the monthly chart. So it says, all right, start being a little careful. That's when the yellow light flashes. It says, hey, in leg D, just realize that you can start to make a peak D at some point. That's all. Now, in the YM, we've just made an all-time high. What did we do in the ES? We just made an all-time high. Now, this is going to be very interesting. Let me just check. You've got 3155 on the 27th. That's a high. 3155. So that extends this leg. And you've got 3158. I love round numbers. And a round number high today overnight into this morning. And you've got this pullback. I guess it's a whole tariff thing, of course. Same old, same old. Now what we're looking at is if there was a peak here and there was a new ladder, you can't H. There's no H in the Chapman Way methodology. You'd have to recycle. So this year as well, it's going to be a G slash C. The old continuation of the pattern is a G. A new one would be a possible leg C. So what we're looking at here is this again, the mag D is still stronger than the E-mini. And the S and B is flat to 94%. Look at the cash. S, B, X dot X here. We go. The cash trading right now at, let's see. Trading right here at 3,140.98 is a close on Friday. That's a decline at the end of the day. This becomes a very important moment. Why? Because if this recycles today, then you get your leg D. You finally get that recycle from there. This is called Chapman Way Instant Restart. And it goes to a D. It says, let me put it simply. I am looking for a choppy sideways with just fractionally higher highs with a chance of lower lows with an erect angle formation. And the best way I can put it is to show you. I'll do you. There's a discharge right here. This is the Dow right here that I show my subscribers every day. I didn't draw it in here. Why didn't I do that? I'll do it now. And that says, there's a really good chance that the Dow could be trading in a kind of a rectangle formation. Maybe fractionally high highs but probably lower lows, but with really good support in the 27,700 area in the short term. That's about as clear as I can make it. I'll be right back. Basel Chapman sitting here before Larry Pazavento. The E-mini futures. The Dow futures are top 27. If you're not currently using the Taz Profile Scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The Taz Profile Scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures, and forex. Heated by Steve Dahl, Taz understands that in today's technological world, the use of top-flight software applications and technical analysis expertise is essential to successful trading in today's market. You also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted, the best way to use the Taz Profile Scanner to profit. This webinar archive is available for all subscribers immediately upon signing up. All new subscriptions also come with a 30-day money-back guarantee so you have nothing to risk. Start your subscription by visiting the front page of TFNN.com today and you'll find the Taz Profile Scanner under the Services tab. Sign up today. From the price you should be paying per square foot in certain up-and-coming areas to the type of cash flow investment properties are capable of creating, Tiger Real Estate can help you make the best decision when it comes to all areas of the market. Before you make one of the biggest decisions of your financial future, call Tiger Real Estate LLC today at 727-329-8322 or email us at tiger at TFNN.com. This is 727-329-8322. Call us today. Many of our new listeners have heard about the Tiger's Den. The Tiger's Den is a lively community where professional traders and investors can meet, exchange ideas and information in a comfortable moderated atmosphere. Hear all of the TFNN shows plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive the Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Details on the Tiger's Den are on the front page of TFNN.com. Hello and experience all the upgrades. TFNN.com Educating investors. Call now. Toll free at 1-877-927-6648 internationally at 727-873-7618. Hi folks, we're back. So I'm sitting for Larry, President of Basel Chapman. I'm the host of the Tiger Technicians Hour at noon every day, Eastern time, and I'm also the author of the opening call to any newsletter, very comprehensive newsletter. So the Q's are trading up 15 cents at 2, 5.26. That's the index 100. If you look at the NQ trading right here, there's chance of a peak G, but it could also be a recycled GCSE so they could go a little higher back. I've got a whole bunch of things that I wanted to show right now. These are Chapman Wave Automated levels that we will be looking at. So let me show you something. In the Dow itself, it's related to 28,271 strong resistance. In the weekly chart, it can go all the way to 28,361. It could even go all the way to 28,591 and 28,959 in the monthly. But the one to deal with right now is between 28,172 in the 120-minute chart and the daily at 28,271. If you look at the S&P, the resistance at 3156 is strong. We've already gone a little bit higher. We went to 3158 in the futures and the cash has gone to 315426. So it hasn't broken that yet. 3155 in the 120-minute chart. 3156,62 in the daily. So that's the resistance to Pearson. Going well above that says you've got, even then you've got a whole series of resistance levels in the weekly chart. 3162 is the upper one. Monthly chart can go 3184. So that doesn't give you time. It just gives you a price. Let's look at the QQQ. The NDX100 has 205.95. We've gone to 206. I think 09 is the high from Wednesday. And so we're watching that 205.97. No, 07 in the weekly chart 10.55. The monthly chart only has 204.77 and then it breaks out. So this is going to be very interesting. You've got a whole bunch of resistance levels in the 120-minute chart. 206.32 we're trading right now. 205.29. Let's look at the IWM because the IWM itself was showing independent strength and did a real nice push to the upside as the others were stalling. But at 160.303 that's the daily resistance automated Chapman Wave resistance level. 160.342 is the 120-minute chart. So we're in that area and trading right now 162.24 47. Hey, that's not bad. We might see that the IWM is going to take a little bit of a leadership role if there is a stalling in the key major indices. Now I want you to go through so I've done that. Now let's just do something else. I wanted to show you that within the context of the different commodities, look, wheat, wheat's having a very strong move. Another moment is down one and a quarter to 50.540 and a half but it's come off the 498 level. Very nicely it's up in the hunt. 540 is a leg C it should still go to a leg D same thing in the weekly chart it should still go to a leg D and look at the soybeans. Soybeans trading up four and three quarters right now at 8.1 and a half. Look at that low that was made. That low isn't the low that was made back in I think it was May, yep, May at 8.28 this is a continuous contract so the actual price might be a little different but within a couple of dollars and then it runs all the way to the high of 9.60 and that was in October, pulls back under 8.81 it goes to a low of what is this today's on the 29th on Friday it had a low of 8.75 and three quarters trying to rally so until it can go above 8.9 I would say 8.93 trying to tackle the 8.98 14 period exponential moving average in the daily chart it's a real problem it's just a big failure pattern if you look at corn trading at 3.80 and three quarters down a half a point this is coming off a low a trough gene the Chapman wave methodology at 3.73 round number that was on Wednesday so at 3.80 it's acting much better it is testing the 14 period moving average but I want to see the weekly chart make a lower case H remember the dreaded H we were talking about the H pattern I want to see this move to the 3.92 area and it should do that by Wednesday Thursday at the latest but it cannot take out the low of 3.72 that's there we're looking at the dollar dollars down just a little bit down six pennies at 98.21 remember how important those D's are we making a peak D if there's no new high above 98.54 today look at this on the 1st of October 99.67 peak D huge move down to 97.11 trough D bounces through peak C pulls back and then it goes to another D that's the daily weekly chart makes a peak D at 99.62 week of the fourth that's on the 1st of October as well and it gets pulled back quite sharply but it's holding in the up channel and look at the dollar their D goes through a peak D with that Friday close underneath for all of the month it did not close above that 99 99 99 area and look at this in the monthly chart squeeze squeeze look at that peak D January of 2017 103.82 plunges to 88.25 leg B trough B starts up again we actually long for subscribers from April of 2018 at about 90.07 via the UUP trading vehicle fund and they asked me their peak D we've already taken just a little bit off I like the dollar I think the dollar is holding very well it's in a consolidation after very strongly from 88 to 99 has 11 points in a currency that and that's big because the euro EUR USD the euro dollar currency pair a nice bounce today at 1.103 up 0.02 and that weekly chart says wow there's a lot of work to be done it's trying to it's attempting to make the low that was made back in October and 1.08 was it yeah 1.087 is that going to be the low for this particular period going into January I'm not sure I'm not sure I think I can see a pullback it doesn't have to be taken out but it's only if the euro dollar currency pair can trade it instead of 1.103 right now if we get to 1.112 by the third week of December perhaps the fourth week of December I say hey that's much better action then you probably will see the dollar be pulling back a little bit more USDJPY this is the yen dollar yen currency finally made that leg D we'll be waiting for in the weekly chart there it is and let me just check this yep the leg D just above the orange 200 period exponential moving average that could be resistance now we're going to watch it closely it's helped the monthly chart the daily chart I am FG I'm just for now going to call this A and B so far it's acting quite well so I'm not going to get too carried away but at 109.59 it needs to get to the 109.88 area actually needs to get to 109.90 and then I'd say great that's a really good action starts to pull back under 109 that's a real problem if you're looking at the TLT the TLT is trading down 2.31 at 138.11 wow that should be helping the market not really wow 2.31 that's a good bonds that was quick bonds down 2 points still at 1.91 and 1930 seconds oh I'll talk about that when we get back Larry Pezzavento has just started his brand new service Fibonacci 24.7 and he's already delivering content to his subscribers on a daily basis when the markets opened and even on weekends each Monday you'll receive Larry's written report that provides detailed commentary and a summary on the charts and videos that Larry sends out and throughout the week when warranted Larry will send out via charts or videos for both the key markets that he is watching during the day this will be up to the date active trading information that will help you in your daily trading in Larry's first week alone he sent out 25 charts 6 videos and a full report to his subscribers in just one week if you're a technical trader that uses patterns and retracements to trade then Larry service Fibonacci 24.7 is something that you must try right now new subscribers can get a full 30 day money back guarantee with the risk sign up now to Larry Pezzavento's Fibonacci 24.7 by visiting the front page of tfnn.com under trading newsletters the path of least resistance is David White's daily trading newsletter and if you're looking for active trading ideas then now is a perfect time for a 30 day free trial to this powerful daily trading advisory service David uses his years of trading experience to offer his subscribers his trading ideas using a combination of equity trades along with options David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted don't miss out on this great chance to get a 30 day free trial to David's daily newsletter the path of least resistance with no obligation to pay anything David has been delivering solid recommendations for his subscribers recently and if you'd like to see the type of newsletter he delivers you can check out the website of tfnn and you'll find the path of least resistance under trading newsletters for all the details and to start your 30 day free trial today log on to tfnn.com now tfnn is excited about our new software charting program the art of timing the trade chart in collaboration with Tom O'Brien and using his best selling book the art of timing the trade your ultimate trading mastery system David is going to share 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 Gartley's 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 $30 dollars 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 guaranteed 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 thinkorswim for more information just click the thinkorswim banner on the front page of tfnn.com I'm Ron Baselchappan sitting for Larry Persevento markets open dials up 53 S&P is up 3 this is going to be a very interesting session a couple of reasons I'm looking at and let me just get back to the dial here let's just get into this okay there we go yes so what did you take that in okay so the dial is up 42 but it's going to be the fact that I wanted to look at this you see these moving averages here there's nine the green line the nine period moving average and the black line is a 14 period moving average until those start to get closer together until the green starts to come down and really break underneath the black one faster moving average going under the slow moving average you've got internal strength and that strength could be pop-ups it says at this particular point you haven't got you have other technicals that are suggesting there's weakness like the magnesium negative stochastic actually pulled back a little bit still 92% that's very good so there are a couple other indicators that are saying be a little careful here at the same time there is residual strength and that residual strength can at least prop the market up so it doesn't break down severely or it can give you sudden energy as it usurps that energy while we wait for this green line to turn down that's the way I'm looking at it so within that context I want you to show I had a question about LC which is live cattle it's made a peak at this particular point from Friday's high pull back a bit 125.95 but that weekly chart is still very strong so it's a buy mode in the weekly chart monthly chart at single leg A to the upside that's good so the main thing is at 125 right now 121 to 120 is really very important support and it's holding quite well it could be pulling back a little bit here on the short term but that weekly chart is still suggesting that it's going to be further strength but I am looking at this do you see this rectangle right here right here suggesting that almost like the Dow that there should be some trading within this rectangle at some point fairly soon alright now let's go to LH live hogs this candle from Friday what a huge candle one of the biggest candles we've had in quite a while and it's got a long week on the upside big body and a long week at the downside looks like a yarn and all I can say 68.45 up 0.27 you'd have to see a move into the 69, 90, 70 0.30 area for this to say okay I'm ready to at least attempt some kind of a rally at the same time I think the downside the 66 to 65 and it should be good support so this could be a sideways move trying to build up momentum with a candle the doji candle from last week to try to build some upside strength question I had yes let's go back to the US this is the the bonds down 1.19 30 seconds they're 157 13 30 seconds you see this H pattern with the left side low taken out then there was a ready attempt see these moving averages under that and that's suggesting to me T and X just go to the 30 year yield what a big move so this yield is an ABC this is a leg a leg we had a peak F at the top on the November the 7th it hit 1971 that's 1.97 1% pulls back to a low of 17.30 1.7 30 on the 20th retest that at 1.7 21 on the 26th so all of this is leg A then it goes to peak A the leg changes to a peak once you have a lower high so that's a peak A peak B new leg C so this is going to be very important because it's saying that yields are running quite sharply as the bonds and the TLT pulled back quite sharply and at the same time I just need to look at something and at the same time we're all looking at my theory usually is that when the volatility of stocks gets to investors you tend to see money flow from stocks into the safety of bonds this is not happening right now markets a little bit big does only have 152 cents 63 cents and yet look at this you've got a big gap down so this is something to my subscribers to my opening call over the weekend I showed them the chart let me just show you this one right here recent there we go so this chart here with the black background shows you the yield the white is the is the 30 year T bond TYX the brown is the 10 year TNX T note 10 year yield and the 5 year yield the F of VX cyan color right here is below so this one is saying big move up on the day for yields but with the context of what's been going on we're already in a sideways pattern with 2443 2.443 as the yield high from about 4 weeks ago and way way down at the 1.98 area I think it is you've got the low of the 30 year but this is going to be interesting wood the ice shears global and timber forestry ETF made it peak B in this rectangle formation and it's kind of stuck in fact it's up 11 cents right now at 6496 but it needs to break above it to start next C and the Philadelphia housing index HGX is pulling back 3.27 that's 354 after making a peak E at 362.82 and I'm suspecting that the home builders are going to have a bit of a problem question I had here was Basil could you look at the FED hogs and cattle please so give me the symbol let me just first do this I just did LH you should be within a couple I'm at 68.07 you're probably maybe point higher or something like that I don't see anything yet for the hogs Ruby so if you could just give me the symbol I can't guess right now so as I see it hogs are still having a problem and until you can get the weekly chart is the one at 70 points trading at 67.92 so you can give that a relationship to what you'd be looking at for February and until you can get to 70.81 72 in the 72 I think it's just stuck in a range for now and I just did this if you look at the cattle and here again I don't remember the cattle oh LHG LHG do I choose LHG 20 yep there it is okay same thing so 67.97 we're real close it's the same thing that I'm talking about within that context you can see that there's really no strength and what I would normally do you know what I do I grab the outer limits when I see a big candle like this I go like this I grab the top and grab the bottom and I say okay until this is the size of trade two out of three bars doesn't matter what the timeframe is two or three bars above in this case for the LHG the 29th high was 69.325 you can see two good closes out of three above that high this is just stuck in a range so be careful if you're in the CD market and looking for a secure investment the Tiger First mortgage program may work for you the security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida the tax act of 2018 set up tax free zones across the country where you can build and hold for 10 years and pay no tax on the profits which makes these lots valuable the investment is anywhere from 30,000 to 75,000 the interest paid is 7% yearly paid on a monthly basis according to bankrate.com the best rate for a four-year CD in the country as of February 20th is 3.1% a $50,000 investment at a normal four-year CD rate of 3.1% would give you income of $1550 per year or $6,200 over the four-year period that same $50,000 investment the Tiger First mortgage program would give you $3,500 per year or $14,000 over the four years what should you prefer, $6,200 or $14,000 of interest on your investment if you'd like more information about the Tiger First mortgage program you can call me at 877-518-9190 that's 877-518-9190 if you're a trader in the market looking for exposure to gold or gold mining equities then now is a perfect time to sign up for Tom O'Brien's Gold Report the summer is over gold is trading back above $1,500 and the 10-year treasury is hovering at around 1.5% Tom O'Brien has been writing his weekly gold report for almost 18 years there's no one that knows more about how the gold market trades and how gold mining equities react new subscribers get a 30-day money-back guarantee so you have nothing to lose every Monday morning Tom publishes his weekly gold report with coverage of gold, silver, bonds, the XAU GDX, the dollar as well as more than 30 different mining equities as of September 3rd gold report subscribers have 5 active open positions with an average unrealized profit of almost 38% for each position to see for yourself the types of profitable trades that are recommended within the gold report sign up today by visiting TFNN.com will the S&P 500 continue to climb for bold trades on U.S. large cap stocks in either direction trade SPXL SPUU or SPXS directions daily S&P 500, bull and bear leveraged ETFs direction leveraged ETFs an investor should carefully consider a fund's investment objective, risks charges and expenses before investing a fund's prospectus and summary prospectus contain this and other information about direction shares to obtain a fund's prospectus and summary prospectus call 866-476-7523 or visit directioninvestments.com a fund's prospectus and summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor for side fund services LLC the bull bear trading hour with Tom and Tommy O'Brien Hi folks, so we're looking at this Basel Chapman sitting for Larry Presventa, yes straight what you see but I'm doing his show today and I could make it so we're looking at the e-mini down 10 at 3133 and what I said to subscribers and also sent over did I do that, I think I did I think I did this, yes to the den is the e-mini December what I wanted to show was how here we go the e-mini trading at we had those two round numbers 3155 round number that was on the 27th pulls back sharply there's a 120 minute chart on the right and today we did 3158 00 another round number high to peak F pull back really sharply there's a brand new move there's only a new leg A to the downside and this is the weekly chart you see making new highs today in December in the e-mini oh this is going to be so interesting so the S&P did not do that oh I only once really ever do you get this kind of I've had it with a Dow with a Dow diamonds the DIA made a peak C and the Dow did a peak D or maybe it was the Dow that did the C and the diamonds to the D and then you had a very sharp pullback and if I hadn't picked up that there was a D I might have missed that down move in this particular instance it's going to be really interesting because for the month of December let's just say the whole of December goes by and we're in a fairly small trading range ish right 3080 on the downside for the e-mini it's not a big deal and on the upside maybe it doesn't make a new high and the cash and the high of 31 let me type this in 31 because we still don't know the days young there we go and the height of Wednesday the 27th 3154 26 so let me put that in 31 24.26 okay and now no no no no no couldn't be I just made a mistake 31 54.26 I was going to say what on earth 54 so let's just say we go to 31.60 31.65 alright just 10 points high 100 points in the doubt I'm still thinking that it's going to be a trading band and one of the reasons for subscribers we have so short positions in two key indexes it's because I don't think they're going to break specifically to the upside to start a brand new move to the upside they can have a residual bounce I look at the market in waves like the ocean waves and it's as if the tide has started to turn and you get these rogue waves that don't see I always have an expression a rogue wave there's a sign at the beach that says high tide at noon so you get to the beach at about 1206 and you think okay tide's turning you got your favorite rock and you got right to the edge of your favorite rock because tide is about to turn down and you got your sunglasses on you got your suntan lotion on you got your favorite book you got your sandwich you got whatever it is and you get your towel you put it down and as you're getting ready to splash then you're all wet and you wipe your glasses you're trying to see what's going on tide seems to be going on and you don't see the wave they didn't see the sign of the beach that said high tide at noon and then the tide goes out so there could be some isolated sprinkles of slightly higher highs that's what I'm looking at in the shorter term overall let me just go back to this and get out of this 120-minute chart right here overall the S&P is only look at this monthly chart that should still go to a C&D into 2020 so I'm still very bullish going to 2020 shorter term I'm getting a little cautious the dowels are only one indeed look at the QQQ the NDX100 dowels 93 cents 204.19 high of 206.05 on the 27th only a peak C in the weekly chart and a leg C in the monthly chart I have to say leg because you have to wait all of December before you can say it's a peak C for the leg C continues look at the IWM still showing some residual strength but now it's down 9 cents 161.67 also made a little bit of a top you see the rectangle I wouldn't be surprised if it was going to come back into the 158th over the coming weeks tested and then maybe we'll get ready to peak C maybe this week if there's no new high and leg C in the monthly however monthly the New York stock exchange the IWM the Russell 2000 173.39 was the high in August for the IWM 125 smashed to the downside December all the way to this recent high in the 163 and the MACD has not yet turned up across positive in the monthly chart and the CAC is only a 66 so it's got a lot of work but that weekly chart has really improved a lot so maybe we will see some internal residual strength in the Russell 2000 had a couple of questions I don't this is the Dow Jones German stock index so it's got the same pattern as the DAX I don't get the DAX here but the DAX is dropping sharpies down 4.31 down 1.04% that's easier to do it that way the prices are completely different this is at 4.8 but the high today was the recovery high not the old time high just the recovery high and that was at 450.88 so it's down 7 points from the high so and I've got this as a possible G MACD is very weak it's weak at 73% weekly chart is still very good but I wouldn't be surprised if you've got a pullback coming here in the DAX so remember I'm talking about the fact that these particular moving averages and I know that for those of you who are really students of Larry's work you'll never be talking about moving averages I talk about them all the time everybody has their own techniques to stick whatever technique you use sometimes add something to as an intrigue something to follow to something to really test to see if you can add it to your skills but look in the SAP now down 6.60 is a little bit better than it was earlier on but the 3128 is a 9-period moving average hasn't come down to that yet 3128 yeah 3132 is a low today so far and look 3117 3117 is the 14-period moving average and I suspect we're going to be coming down the is internal strength based on these moving averages but I think that the tide has started to turn at least in the shorter term as I said one of the reasons why I had subscribers go short last week in particular index we've tried twice to short the Dow but now we are short the Dow and I do think that there could still be balances but I've got a feeling that the upside is limited got that out the way I said it enough times next question I had was could I look at copper HG high grade copper is pulling back it's down 0.01 at 2.65 that look this is the dating chart there's like an H pattern right there and I suspect that like wood the ice shares of the timber and forestry ETF is a little bit vulnerable here so if it breaks under 2.63 that's a real problem for copper in the shorter term and it also messes up the weekly chart which is still in that rectangle formation and the monthly is really needs a lot of work to improve Dow is down 23 S&P is down 8.23 I'll be right back Basel Chapman sitting in for the one and only Larry Presidento I'm Steve Rhodes author of Mastering Probability and for the last 12 months timer digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6 and 3 months timer digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use to transform me into one of the best at what I do Sign up for Mastering Probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too Sign up today If you haven't checked out the newsletters page of TFNN.com what are you waiting for? All of the TFNN newsletters are informative and must have for every trader looking to gain a competitive informational edge in today's markets TFNN newsletters cover every aspect of the markets to offer you the very latest in market news plus new subscribers get to test drive our newsletters risk free for 30 days from all aspects of the markets including stocks, bonds, metals, commodities and tech there's a newsletter to fit your needs exclusively from TFNN stay informed each day you trade and get the competitive edge that will help you stay ahead of the game Visit our newsletters page by going to TFNN.com and click the newsletters button near the top of the page TFNN.com Educating investors Since 1984 Basil Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion while originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls thus was born the Chapman Wave sequence using the Chapman Wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter Right now you can get a 2 week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com Cancel at any time during that trial and pay absolutely nothing Get your 2 week free trial to Basil's newsletter of the opening call today by visiting TFNN.com Basil Chapman sitting in front of Persevento in his last segment let me just go through some things quickly you see this rectangle formation this is crude oil it's screened up to a peak D second peak D the first one is 61.08 back in july and pulled back sharply another one in September is 63.14 pulled back sharply and now what we're looking at is this rectangle that it keeps coming back into it's stayed there it's up a dollar 20 and 56.37 but it had a huge down move on Friday so this is what's crude oil because I think it's stuck between the 58 and the 54s if it breaks either one of those levels to the upside and downside then it can extend but I think it's really stuck in the range I just had a question I am the guest speaker at the Boston Investors Group over at MIT Cambridge tomorrow night but because of the snow we just don't know yet there's another snow storm coming in later today it'll be postponed maybe I'll know by my show at noon today whether or not it's postponed but I'll let you know that tomorrow morning and certainly subscribers I'll let you know in my newsletter tomorrow morning whether it is tomorrow night 6.30 it's a potluck supper and a potluck poo whatever it is and at 7.30 I'm the speaker but it might have to be postponed and you can check it out at the Boston Investors Group front page of the newsletter so with that said I'll be doing my show at 12 o'clock noon today let's just look at what's going on at this particular point it's not down much it's only down 26 but it's starting to show signs of weakness but not yet in the key moving averages and that's going to be really important and that's number one and number two is in the weekly chart is holding well it's the same thing for the S&P same thing for the Q's so what happens over the next two days if there's a very sharp set off by the end of the day it says yep choppy range and NUE let me just see this question as I'm going to the break yeah this is a new breakout this is leg C for new what is this NUE this is a steel show steel yes so it's improved I'll do more of it in my show later on today so thank you for being here hope Larry's back tomorrow see you for Larry and have a great day I hope to see you at NUE in a couple of hours time thanks for being here