 The following is a presentation of TFNN The Trader's Edge with Steve Rhodes Call now toll free at 1-877-927-6648 or internationally at 727-873-7618 The Trader's Edge now Steve Rhodes Okay folks, this is Larry Pesevendol sitting in for his friend Steve Rhodes, sort of the Trader's Edge For today, he's a tiny bit under the weather nothing life-threatening we understand but His voice was a little raspy, so I'm gonna set in for him not that my my throat is much better But I'm still feeling good whether you care or not. I certainly care Let's take a look here at the NASDAQ folks So you can see here the ABCD pattern that we're looking at we're hitting down to a little bit below 12,000 we're at 12,200. I believe we're going to be right here or right there later this week Now we talked a little bit on my show earlier today about the importance of this May 15th move I'll go through that with you right now because I think repetition is the mother of knowledge And we always learn something when we are repeating So let's just get in and take a quick look at what we're watching here about three or four weeks ago Actually, it was when the solar eclipse occurred back on the 29th. It wasn't that long ago It was only two weeks ago. Let's get this up here so we can take a quick look at it dear just a second here Here's what we are. Okay. What I did folks is I went back to 1987 because we had Situation with the market topped on August the 25th our money convergence There were five planets in the sign of Gemini at that time and that was on the 25th The doubts topped at 2700 it moved down into the solar eclipse of the 23rd of September From the 23rd of September it ran into the 2nd of October, which was a Venus trine Uranus conjunction aspect and then the market you can see Went down and then it broke quite a bit the whole key to what we were watching here These aspects were pretty much exactly pretty much. They were exactly the same Shane Smollion talked about it on our show several times You know the fact that that stellium occurred with all these planets were lined up Together which was pretty much what you'd like to see the key to this was the market had to close lower on Friday Which it did and then be sharply lower on Monday and that's exactly what happens if this is correct Now all we're looking at here is a time time count folks if the time count is correct The day the day from the 20 from the 2nd of That Uranus happened which was on the 5th. Okay, that was the 15th That's let's try to go slowly and get this right Larry on October the 2nd 1987 Okay, it took 14 days to get down into the 19th to 17 days to get down into the 19th Which was the big drop now our ours happened on the 14th, okay? Boy, oh boy. These numbers are just jumping out at me and I'm not even in this happened on May the 5th Okay, now if we add the 17 days to that that's going to take us in to May the 22nd now we have a very strong lunar eclipse and a thing called the blood moon is Occurring on the 15th, so I believe that we're going to be down some time between the 15th and the 19th of May and Remember sell in May and go away. Well, you had to sell a little early in May But that would made any difference now if we get to that point and everything lines up like it has so far It is going to be one of the best buying opportunities that we've had in these markets since the bottom in March of 2009 now people are saying that this market is very similar to what happened in March of 2009 and folks I've been doing this for a really long time and I can tell you with 100% Maybe 500% Certainly that that's a bunch of fake news or BS whatever you want to call it Here is what I posted in the newsletter for TFNN on May March the 5th of 2009 I've been doing this for two years for TFNN at the time at that point You were seeing a beautiful three drive to a bottom pattern over the last five or six months Okay, we were setting exactly on that day on March the 5th We were exactly 61% of the load that was made on August the 9th of 1982 which one of the best buying opportunities of the of the whole decades of the 80s That's was remember that was two years after President Reagan had been You know had been Elected and so that meant that it took two years for the economy to get turned around at that particular aspect And we went straight up For quite a while now when we were here on March the 5th What I was saying was we were going to have the strongest rally that we have seen in since 1935 and folks we went from that level to where we hit back on January 4th of this year when we just under 39,000 so I Happen to be a little wrong on that one because I didn't get the whole way out the way up or little pieces of it Anyway, but anyway, that's what we're watching here. There's one other thing I just got off the phone here with Tom who guard I'd like for you to look at this little white guardly that occurred here when the Bradley model was turning down This was in October of that year when we really started to accelerate to the downside Tom had just just lost his job at for with Michael Spencer at City brokers and he was out trading on his own and I told him I said if we get below this level here You know, you're going to be able to pay your tuition for the rest of your life And it did it more than one or two lifetimes, but that's what made him Basically famous. He's shorted it all the way down folks and he's a perennial But he's a very he trades the bear markets extremely well because they're they're so quick and they don't allow much for For air so if you're wrong you got to get out of the way, but that's what we're watching here right now This has nothing to do like what with it when we got to this level here folks Bear Stearns had been trading at 106 way back here and now it was trading. It was just bought out at $3 a share and It was you know, that was a big deal Of course Lehman brothers went to Tapioca at that time and nobody wanted to buy stocks It was just and that was the bottom So I think we're going to be at a really substantial bottom at that time How big it's going to be is anybody's guess but timing is what I'm looking for Remember that we have two outstanding targets if you take the 24 7 newsletter two outstanding targets in the S&P One is at 39 63 the other and is at 39 25 that should be hit today or tomorrow and then we should get a little bit of a bounce How much that bounce is going to be we'll have to wait and see and then the final low That if this is correct and the time count and that's what we're basing this on is going to come in around between the 15th and The 22nd that's one whole week, but remember This is a 52 week year So that's one out of 52 if we can get within you know 2% of where that time is that's going to be pretty good No matter what happens here folks. We're going to have tremendous volatility to do some trading I'll show you some of these things that we were looking at last night and today about the volatility that we're having in and How the patterns line up with pattern recognition, so I think you'll enjoy Looking into some of these things We're going to be taking a look at a couple of these other markets that are holding up relatively well if we look here at the German backs here. You'll see this holding up relatively well given where we are. We'll be right back folks Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 finishing it number two for the year an Amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon Sign up for Steve's market newsletter Mastering probability and you'll receive access to seven of Steve's educational webinars Absolutely free at TFNN all our newsletters come with a 30-day money-back guarantee So you have absolutely nothing to worry about visit TFNN.com and try mastering probability 30 days risk-free today 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 in 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 Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure but you also need excellent instruction from experts at TFNN You'll get advice and guidance from the authority and technical market analysis, and it's not just dry tedious text either TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV Live every market day from 8 30 a.m. To 4 p.m. Eastern for free Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world From the moment the market opens until the closing bell sounds Tiger TV has eight different shows with expert hosts to help you make the Right moves with your money watch online at TFNN.com or on TFNN's YouTube channel and become the investor You were born to be TFNN educating investors He has won 877-927-6648 internationally at 727-873-7618 Okay folks a Larry Pesavino setting in for Steve Rhodes today He'll be back with us tomorrow hopefully and we're going to take a look here at one of the charts It was sent to us by one of the Elliott Way folks all I did was draw this yellow line in folks That's nothing more than a line that connects these highs and it hits it right on the money And it tells that the market should be pulling in to this level right here, which is 38 Let's try it again Larry 39 38 on the downside and 3960 and so that range is 3960 to 3938 if you're short the market I highly recommend I don't care about the time Because time is very elusive. I don't know where that time is I do know that price is important to me and I have some people from our service That has been short and been short this for quite some time and we recommend that this is where you take your profits Yeah, we might leave a whole bunch on the table and yeah, there might be a crash, but yeah, but I Don't really care about that when you made some money You got to be thankful for it and if we get to that level I suggest you take your profits It's going to give us lots of opportunities folks this volatility the volatility I heard today was above 34. I don't know where it is now But that means it's probably going to get up to 50 or 60 before this thing is all over But we're going to have some tremendous moves both up and down with rallies It'll occur where people think that please let me in right now. Let's please get me out But when they want to get please let me in you want to try to get in It's a tad bit before before they do that and that's the important thing to remind ourselves But anyway, that's that's what we're watching in the S&P I've already posted the chart for the Nasdaq that the first one on that comes in right under 12,000 That's at the 78% level. We're about 200 handles from that right now. So it's it's very very close Now let's let's talk another one that we were talking about yesterday We did this on Friday and also we wanted to talk about it again today This was the move that we had in the natural gas now remember folks natural gas hit a high As you can see here on this chart on Friday. It hit a high of nine dollars, okay From there it dropped all the way down and then today in the middle of the night Right before the markets opened it was actually before that we got to the 828 level Which was an exact 382 of that move right here strong tendering markets tend to be stopped by 382 Retracements I'm going to be doing a whole lot of trading on 382 on the trading day I'm going to be doing on May 17th. I highly recommend you look at that because I'm going to give you some little tidbits to look at on where to put your stops on this and what your profit objective would be but remember folks This was a ten thousand dollar move in a margin that has forty two hundred Can you believe that in two and a half times a margin in one day? And then the market rallied up today to the 382 You'll never guess boys and girls what happened. I know it seems hard to believe but we're going to take a look at it Nonetheless, hopefully we'll be able to find it here Eventually and I think I have it somewhere in the ballpark. I hope that's the ballpark. I'm looking at Dear what happened to it? Well looks like that ballpark has been Disassociated with my charts because I don't see it anymore Dog got it. That just bothers the heck out of me. Let's just see if we can do it. No can't do that one. Ah Shucks, I thought I had this thing all ready to go. Yeah, what am I gonna do? Oh, guess what? I had it ready to go. It was just hiding from me like always hold on Here it is now watch this. This is a remember. This is interday folks Okay, here's your 382 last night. Okay, this is the $10,000 move down The rally up is about $3,200 right to the 382 retracement and now we're approaching another $10,000 move down here at the 1.618 expansion where where the Natural gas should have one heck of a rally. So watch that level of seven seven point one. That's down $20,000 since the high that was made on Friday. That is huge folks That's tell you that the problem with the energy is a little overrated here in the US at least on the natural gas side It's also if one of the things that we we did a video we do videos every night for our 24-7 folks and one of the key things that we did last night Well, actually did it early Sunday morning and then I did it again Early in the evening because last night because of what was happening the fact that we had gone Exactly you can see the double 1.618 expansions there and the ABCD pattern in between. This is a four-hour chart stopping exactly right here in the gasoline contract, I believe right at 83 and it's been dropping precipitously ever sent down well over five thousand dollars But that what was really interesting is because we were look because we like to trade crude oil more than we trade the Gasoline if we looked at the crude oil you'll be able to see here when we were looking at this You'll be able to look at this pattern. We call the one three five pattern We have the lower tops and you'll see the last one was exactly 78% Look where the opening was here on Sunday night folks right at this level here at one ten 33 was the 61% retracement the high was one ten forty four and it had a little bit of a correction today folks to the tune of Just about let's get it up here so we can take a quick look at it Let's get the first part of it here was the first three eight two retracement We're going to do these in sequence so you can actually see it because this is the thing we have to Import to you on our trading day on the 15th of May to get you to understand that Especially with bear markets folks these patterns with bear markets are just made for this and not many people are aware of it I mean I looked at it for years. I didn't see it. It was Tommy who guard that pointed it out to me Look at that three eight two retracement right here and now folks believe it or not We are way way way way way off the page to the downside You can't make this up. Let's just take a look at it and you'll be able to see it right here I just did this right before when I found out I was going to be setting in for Steve today I'll bring this up and you'll be able to see there's your a bcd pattern. There's your three eight two, okay By the bing by the boom. There's your 1.618 expansion anything below 102 Look out this this crude oil could really really take a beating So remember this was at 131 Three and a half weeks ago in the midst of the war, right? Well now we're at the 1.618 expansion You've got a big a bcd to the downside and odds favor or what is it chance favors that prepared mine I'll bet you can't get five people to buy it today But anyway, that's where the support should come in right now And if it doesn't the next support is way down at 99 and that could be a whole lot lower Than where we are right now now speaking of shorter term trades I want to cover a couple here and I will cover the The sequence of what's happening with the market compared to 2009 again But I want to cover this the short term stuff that we had last night in the dow Jones industrial average with it down Well over 500 points in the midst of that We had a very nice feel like a bcds and you're going to see one right here. There's a perfect There's your perfect a bcd right here You'll never guess what that number was off that high on friday You got it three eight two and the next one you're going to see the sequence of events that occurred right after We'll be right back folks eight seven seven nine two seven six six four eight Larry pessimist setting in for the man himself steve roads If you want to take advantage of this sector now is the time to subscribe to my gold report The gold report is a comprehensive look at the metal sector as well as the markets that move gold Which is the currency and bond markets new subscribers get a 30-day money back guarantee So you have nothing to lose every monday morning I published the gold report with coverage of gold silver bonds the xa u 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 tfnn has just launched their new trading room the tigers 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 tigers den available to all tigers and tigers for just one dollar for the year There's no cash or added costs when you join our community of traders in the tigers 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 tigers den and 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 guardleaf 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 and 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 gonna 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 Okay, folks, uh, larry pasfano setting in for steve roge at the trader's edge. Steve will be back with us tomorrow. I'm told Hopefully anyway, let's take a look at this is the dow Jones Those of you that are afraid to trade these real wild markets down 500 up 600 All you had to do is go down to a smaller time frame folks. They're there. This is an eight minute chart I could have put a four minute chart, but the eight minute gave me more time to look at it You can see here. We had a beautiful a bcd pattern the dow. The dow Jones was Down only 300 at that point then it's down about 600 Look at the perfect a bcd down at the bottom folks. It rallies up to the 61 percent retracement But what's even more important if you look at these little cycles that I have here It's a number of bars. You'll see we came down I think 15 eight minute bars an hour and a half 52 hours and a half you'll see it comes right down here again makes a bottom and then has the rally And you see this over and over again folks But unless you're exposed to how it works and you can actually see it and prove to yourself that it works It's not going to mean a lot to you and with this volatility index trading above 3400 I heard earlier today. This means that we're going to see more and more of this kind of stuff You know all day long I've shown it to you in the crude oil. I've shown it to you in the natural gas I've shown it to you in gasoline I don't have time to show it to you in soybeans and wheat and all the others are all getting hit And with crude oil down seven dollars a barrel today and all the other grains selling off We might get a respite from this inflation. That's the bugaboo in the news all the time So that's neither here nor there Now boys and girls pull around one other thing before we get to this level I wanted to show you the difference between what happened now and what happened in 2005 this is a chart showing stock market sentiment and believe me folks If you think it was bad now, you should have seen it way back then because you couldn't get anybody To buy this stuff you can see this little circle here This is lower lows that we've had since 1990 here is 2005 and we're way below that And believe me we're only you know the s&p's only I think about 15 off the high the nasdaq about 28 percent At that red that red circle back here folks the nasdaq was 85 off the high Hello operator. I mean give me a break. I mean that's a little bit different So the news that they're giving you is not always the way that it appears. So keep that in mind I'm a big believer in fake news because I hear it all the time and probably I distribute Some of it myself. I don't knowingly do it, but my golly. That's the way it happens. All right Let's make some money honey. Let me show you why this is the one. I think this is the big daddy rabbit folks This is the eldorado the old wine with the old Aztecs The search for eldorado and I think this is it. I'm being a little bit Facetious here, but let's take a look at everybody's favorite That most have 50 percent of people thinks it's bologna and the other people the other 50 per think 50 percent thinks it's salami. All I know is two things. Okay At this point right here a b cd John jameson told me that bitcoin was going to go to 25 000 and I said john You ought to get out of your long bit corny said I already did that but look at it did it went down It made a beautiful a b cd now look it takes out that high by just a little bit And you'll never guess what that number was folks that was 0.382 Now if you did a little bit of math back at the envelope type just to keep it simple There's a There's b There's c There's d we're breaking getting ready Blake broke breaking below these lows very shortly That sets up two targets one at 20 000 and one at 13 000 now that's between 32 And uh, you know 20 and 20 and and 13 is not very far. You can see how quickly It'll go down. Maybe it'll come down into the same time. We're looking at the Bottom in the market around the 22nd. Maybe that's it. I don't know. All I know is that when we get down to that level John jameson told me he said that's the equivalent of christmas day folks He said that's like buying bitcoin when he's at 100 is what he said because at that point blockchains and crypto currencies will really be In the crosshairs of everybody. Nobody will want them. It'll be, uh, you know, stay away from it It's like a mr. Buffett will be crying out. Yes. I told you it was nothing more than I forget what the words are used Cannon fodder or something like that But at that point he thinks that's going to be one of the better buying opportunities not necessarily in bitcoin Or ethereum, it's going to be some of the other smaller coins that that are and tokens that are out there that have a potential So we're going to be doing that for tfnn in the newsletter 24 7 And i'm also going to be doing i'm going to be giving a recommendation on this on the 17th of may I'll give some prices out there and a couple of these to look at I'm not going to put him in the letter or anything until after this thing starts But i'm going to post post those into the room for those of you that kind enough to support tfnn That is a bonus for you and i'll be following him For sure. That's uh, because I have not bought in one not bought in one haven't bought any Uh of the cryptos and this will be my my first venture into it whether that's going to be uh Successful or not. All I know it's much better to buy something at an 80 discount than it is to buy it at an 80 premium that much I learned very very early in my trading career and it's stuck with me All this time. So let's uh remind ourselves of that now Let's get back to the big daddy rabbit that one is about six times the size of the stock market None other than our good friend the treasury bonds now we have been Well, I have to tell you a funny story about this folks I got an an email from somebody Reminding me that up here when we had that a bcd pattern I was on the air and there was a double a bcd you can see the other a bcd Coming in so that made that a butterfly pattern Uh along with the beautiful long term a bcd up here I said that I usually used to do the trade of the year It was and I did 15 of those and I think 13 of the 15 worked really good The other two didn't lose any money with it didn't make any money But at that point I said I wouldn't call this the trade of the year I would call this the trade of the decade. I forgot all about saying that But this fellow it was kind enough to send me the email and the comments that I made on it And so it turned out to be good Folks we're going to get down here to this one. We we hit 134 and changed today We've rallied two handles. That's mainly a flight to quality which is like throwing gasoline on a fire It's going to come down and make it didn't it didn't make this trip without getting to 131 132 We came within three points of that's not enough in the treasury bond this this market is at minimum of six to ten times or even more Uh has more volume in players than we have in the stock market. So that's why it's important We got the rate hit the the long the 30 year bond hit 3.2 percent folks. Remember up here they were trying to tell us that it was uh Bombs away for negative interest rates. They were here to stay give everybody your money They're not going to tell you whether you're going to get your money back or not And you're going to have to pay them for holding it. Hmm. Let me figure out how I want to get around that one Yeah, that looks like a really good deal You betcha try to tell that to a three-year-old give him some candy and take it away from him Say you're just not allowed to have this candy until I think you should have it and I might eat it and not give you any candy Folks if you want to read a good book, it's remnant. Um, it's my own story By bernard baruch bernard baruch was the right hand man and had the left ear of none other Than jp morgan himself and uh, he really Knew about finances. This was all during the 20s 30s and 40s He uh left a tremendous legacy with baruch college and a whole bunch of other stuff Let's take a little break eight seven seven nine two seven six six four eight We'll be right back Are you in the market for buying or selling real estate in the bay area including the surrounding st petersburg tampa and clearwater markets tiger real estate LLC is a firm that has extensive experience in the tampa bay area Whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property Tiger realty has the experience across all areas of real estate in the tampa bay area to help buyers and sellers Make the most informed decisions across all price levels 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 seven two seven three two nine 83 22 or email us at tiger at tfnn.com. That's seven two seven three two nine 83 22 call us today The technology around us is changing every day With so much happening 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 Biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade labu or labd Directions daily s and p biotech three times bull and bear etfs Visit direction investments dot com slash biotech today An investor should consider the investment objectives risks charges and expenses of the direction chairs carefully before investing The prospectus and summary prospectus contain this and other information about direction chairs to obtain a prospectus or summary prospectus Please contact direction chairs at eight six six four seven six seven five two three The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services llc Don't forget you can listen to tfnn Live on your mobile device 24 hours per day Go to tfnn.com and hit watch tiger tv That's tfnn.com and hit watch tiger tv Okay, folks larry passveno setting in for steve rhodes and i wanted to bring to your attention here This is the euro chart on the weekly you can see we've made a big abcd down Uh completed it right here at this 104 and change Taking out the lows here last year. This is a major abcd folks The question is we've been here seven days and hasn't done anything. That's not a good sign So we could easily break down and go a whole lot lower. It wouldn't be Very surprised we wouldn't be surprising at all to see if if that were to have happened Because i want to bring to your attention if we go to a little bit longer time frame And that's what you have to do is when these things don't act the way you think and i'm short the euro And i just can't believe that it's not lower than it is right now But look at the monthly chart here on this you can see here. This is a beautiful one three five pattern on the monthly There's dry one three and five perfect You uh, it just here's a beautiful three drive to a top pattern on the monthly Look what you've got here folks. You got setting down here at this par level of one One to the euro Is a 78 percent retracement It's also a huge abcd on the monthly coming down here at one taking out the lows down here You've got to watch this folks. It's four handles from where we are right now So pay attention to this par level in the euro because if this fails This dollar index could go to 120 and that'd be like the japanese end and that that is going to mean There's real problems in river city and you don't want to be long any stocks or anything like that It's going to be definitely be risk off. I think it's uh Important to remind ourselves and we had a question from one of our listeners And that was about the australian dollar because the australian dollar Is very very important for commodities because they have so many commodities over there Includes including copper that is now approaching four dollars a pound Just a few weeks ago was five dollars a pound And now with that just we had a 382 retracement on friday and copper Just like we did here in the australian dollar you can see from your high Down to your low was exactly 382 hit it two days in a row to the tick and look what's happened It's already breaking down rapidly and that's where you want to start to learn the importance of those 382 patterns because Been looking at these charts for years But they always alluded me that I didn't think 382 was much because of the size of the swing But frankly it just didn't make any difference to me now Speaking of currencies. Let's get back to the u.s. Dollar for just a second here Here is the dollar index on a monthly basis I know it's going back quite a bit, but if you can see here From going back here many years this is going back decades. You can three three drives up here Look up. We hit the 61 percent 61 61 and we're here at the 61 again Now the 70 dollar question or 64 dollar question depending on what tv shows you like Is this a b c d going to be enough to stop it here? Or are we going to explode up to this level right here in order for the Now for the euro to get down to that 10 par level It's going to have to get substantially above where we are right now. I don't know if it can do that That's why i'm watching. I mean how many i've been doing this show for 15 years How many times you ever showed me showed you a monthly chart not very often But it helps describe why there's so much You know resistance up in this area right here. I mean this is something big is happening Whether it's related to the stock market or not. I don't know But as I say many times Other people don't know either That's it either what we're watching. All right. Let's move on to One other one here that is very important to us being the fact that we have so many loyal listeners over there across the pond In the uk and we'll get this up here. So you'll be able to see it. This is our british pound versus the US dollar as you can see here. We're down to the 1.618 expansion level We haven't exceeded it yet, but boy, we're very close and if you fail that You you're going to be looking down here somewhere. Maybe even a double bottom in here. So This is really important support that we're setting at right now here at the 123 and change level now that You can see how quickly it's dropped folks Uh-oh just a minute. They're telling me something is happening My little my little beeper in the sky is letting me know and the answer to that is Ah gold's making a new low. Let's get since we're talking about gold Let's talk about that because we happen to be we happen to be short the gold market and we want to get it up here to Are you kidding me and there it is Let's get it right here because I think we're going to be there very very shortly Probably tomorrow or the next day Going to be a really interesting spot here to look at the gold market Here's where we are folks. We we're able to get this short. We have two shorts on we got one at 1925 another one at 909 and we're looking to cover everything right down here at around the uh 1812 we're only 40 dollars away right now. So 1812 would be the covering price right here We also have a possible 20-minute line there. You can see that would also come in at that point That's going to be really really serious And I think it's important that you watch that now those of you that are not involved in the precious metals and believe that you're still In a what you call a big boom here as far as let's just get this weekly silver chart up here because I think we're getting ready to have a Really good buying opportunity here in silver because inflation is just starting folks What we're having now is we're having Cost-push inflation because of the fact that uh, you know, they can't get anything you can't get supplies and stuff It's not demand related when we get demand pull Inflation that's when inflation is going to go wacko, but here's the silver market Look at this beautiful line here. There's 20-minute line right here down here 20 I think right around 20 bucks. I believe is where it is. I can't see it exactly but if I look closely It's 19 dollars 19 dollars here in the silver. So if you get that Pick I I think you have to back up. Oh shucks. I lost the picture just a minute here boys and girls and I'll I'll get this up for us Not again just a minute in it's going to take me One second or less and I'm the judge is out Silver weekly is right there Get it back up again. Here we go And the premiums are coming down a bit, but if you can buy silver around 19 dollars the low down here was 11 And now at 19, I think you got it you have to do it And if you if you want to buy those coins or tokens They're great gifts to give they're beautiful. They're pure silver. I love them. I love gold, too But those silver coins they just have the special quality about them I of course, I you know, as you know, I'm very near and dear to that silver market I've been very very fortunate in my life to Take a look at my goodness. We've got any calls coming in eight seven seven nine two seven six six four eight Al said it's been impossible to get through today I I really I feel badly for that but when the lights line up You're lucky if you get in and by golly you just haven't been able to make it today So, uh, we are uh, what is beeping again? I stopped the beeper. What? Oh, it's this gold still making lower lows That's what we like to see if you're short if you're long you like to see them go up Anyway, uh, let's take a quick look at one other thing that we're getting close to today I know it seems hard to believe But I want to get this up here and we'll take a look at it When we come back from the break eight seven seven nine two seven six six four eight Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts at tfnn You'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv Live every market day from 8 30 a.m. To 4 p.m. Eastern for free each host is an experienced trader And gives their take on the market while taking calls and questions live from around the world From the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts To help you make the right moves with your money watch online at tfnn.com Or on tfnn's youtube channel and become the investor. You were born to be tfnn educating investors 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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Just visit the front page of tfnn.com Don't forget you can listen to tfnn live on your mobile device 24 hours per day Go to tfnn.com then hit watch tiger tv. That's tfnn.com then hit watch tiger tv Okay, we're back folks. I've got the chart posted of the Natural gas as you can see it's heading down towards another $10,000 a day That's 20 grand in two days folks Our goal for the trading day on the may 17th is to make money I'm also going to be teaching these patterns and showing them why they work when they don't work We're going to have five hours and with a really active day We somewhere between that 15th and the 22nd We should be coming into some pretty big swing bottoms and a lot of things So we'll have a lot of opportunities to look at some of these things So if you get a chance to joining us, I'd certainly appreciate it and so will tfnn And they do a great job here for us. So let's try to support them The best we possibly can now I want to share with you one other thing that we talked about before This is this factor of what we looked at with time counts compared to what happened in 1987 I don't know whether there's going to be a crash. All I knew it was going to be a lower market And I can tell you this by just looking at these numbers here This is where we are right now folks on that red arrow right there. That's where we are And so we should get down between the 15th and the 22nd of may is where that bottom should come in That's based on time counts. Peter Lides is going to be our guest here on friday talking about some of these things Peter did a special infomercial last night Podcast I mean about the market's weakness coming into today looking very similar To what i'm looking at and it should be because we both studied under the same cycle people And mr. Fibonacci himself And so well, that's not only that's not really the case that's a little bit later in life That was in the 15th century. Anyway, let's uh 13th century Anyway, we'll take a look at that because that was 1242 and Fibonacci wrote his paper Liber Abachi, which means freedom from numbers and we use Fibonacci It's freedom from pain folks because when the Fibonacci don't work, they ain't going to be no pain They ain't going to be nothing but gain. So let's remember Live every day in an attitude of gratitude and may god bless