 The following is a presentation of TFNN, the Tiger Technician Hour with your host, Basil Chapman. Call now. Call free at 1-877-927-6648. Hey, everyone. Basil Chapman here on this Tuesday. Everybody had a great weekend, great Christmas. We're looking at the Dow at this particular point. I just want to show you the Bitcoin, though. I was going to switch charts, but I'll go to the Bitcoin, which is down $1,145 at $42,620. Now, when you think that Bitcoin was once in the $68,000, and then it goes down to the $19,000 or $18,000, it's done that a number of times where it's gone from very high to pretty low. This is the deepest correction it's had, certainly in points. So this retracement back to the $42,000, $25,000 area, that's very impressive. But you see this rectangle here, the sideways rectangle, see the way it's arching over? So we've got to watch this because, look, this is a macrocosm of this. And yeah, you've got the Dow. Look, a little mini rectangle. And the Dow went to $37,641 four sessions ago, and now it's trading at $37,455 up $69,000, still holding very well. The nine-period moving average above the $14,000 is really strong. I mean, that is really impressive to break and get this green to turn pink like it did back here going to the October lows. You don't have to see the Dow probably at $36,500, over $1,000 points lower, probably at least for it to just switch to pink. So far, that is really bullish. And number two is, within the context of the MACD, the MACD is just turning negative as we speak. The nine-period moving average, where did it go? Right here. This is the green nine-period moving average. Fabulous. The $37,194 is the key support there. The black 14-period moving average is $6,946. The MACD, as I say, just tilting down fractionally, it's actually almost unchanged. And then what you get is the stochastic has gone from the 90, what was it, 97%, I believe, now to 83%. So it started to decline. No price turn at all so far. And the unbalanced volume is still stuck in this kind of overboard territory. The relative strength, remember I spoke about this and I said, the relative strength, when it goes above the 80% level, it turns pink. It doesn't do that very often. When it goes under 20%, it also changes color to red. Now, what's really important about this is it was signaling that there was internal relative strength. So relative strength shows you that there's been, I would call it an overboard situation. I usually use only the unbalanced, the blue unbalanced volume as a real indicator for me as to in overboard and oversold. But the RSI gives you more of a, how can I put it? It's like a look ahead. It doesn't give you a timing aspect to it. When you use it just purely as going over 80%, that is different. When I say the stochastic over 80% and holding, that's fantastic. That's what you want to see when you're along. The relative strength index is something I treated. I've always had it in the background. Yeah, I've always studied it. I have usages for it, but I just kind of use it as a backup to my unbalanced volume and the relative strength index, sorry, and the stochastic. So this is a hint to say there is still internal strength, but it's starting to weigh in. Think of it as you've got the torque from the stochastic, you've got the momentum from the MACD, and the relative strength index is a kind of a look ahead that says, well, you can go a little bit neutral. You've taken your foot off the brake and you're cruising for a little bit and it's good to tell you whether you're going to hit the accelerator again to accelerate or whether you're going to keep your foot off the brake and put it on the brake at some point. It's just kind of a heads up to say there's been a change and until it affects the market, when it affects the market, you'll know that because the relative strength will be much, much lower if the stochastic starts to go to 78% and the 9-period moving average comes down. I want you to spend just a little time on that. Why? Because I'll tell you what I'll go to all the other indices in a moment. I did it during the update at 10 o'clock, 10 o'clock Tiger Financial News Network market update, but look at this. Crowdstrike, CRWD. What do you see here? You see this tide? Look, you've had this magnificent roof from the 160s, 170 area, screens up 100 points to the 260 area and then it stalls with the tiniest little doji candle and a huge leg E in the weekly chart. And this is just a warning to say on a short-term basis, Crowdstrike, fantastic cover, cybersecurity, blah, blah, blah, just in the right area at the right time, getting a little bit tired. Look at that. Look at Ulta, Ulta beauty. We'll follow this for years now. Ulta beauty was a due. This is a stock that's trading at 472 and the other day it hits the 490s and it has what? That tiniest little doji candle right at its recovery high. So it says be a little careful and now let's pull back from that level to the 20 points lower. Peak A in the weekly chart. But wait a minute. Yes, Sentinel has this tiny little doji candle right there on Friday at its recovery high, Sentinel-1 and it is trading in a leg C in the weekly chart. So it just says I'm going through literally dozens and dozens, hundreds maybe, of charts over the weekend, Uber, great company, doing all the right things in the right area, makes an all-time high by a fraction 64.05 was high in February, plunges down to 19. I would call that a bit of a dip. And then it runnies all the way back to where? 63. I don't think it made a new high. 63.53. Oh, we missed it by what? 62 cents or something like that. All-time high in this big U-shaped pattern. Oh, I had this in and then I lost it and I forgot to put it back in. I'll do that right now. Look, if you go to that left side high in the monthly and you go to the exact low right there. Right there. That was the low of June or 2022 in 1990. And then you go click. Just one little click and it takes you to one more early. Look, one more early. It's one more late in getting there. Not bad for a U-shaped pattern, right? And what do we have? We have Uber with tiny little candies. Look at this digester phase right after the spectacular run from the 40 area just in October. And it goes over 52 percent or so up to this high of 63.36. 63.53. That was on the 15th of December. Now it's just storming. And a lot of these stocks are just kind of taking a breather. Is it a breather for a pullback, a sideways distribution area? Are you ready to come down? Look at now. Now is Service Now Inc. Auto Management, Workflows, IT. It makes a tiny little doji count almost in an all-time high. Wait a minute. 720.68. I think that was an all-time high. I'll be right back. 707.60. Yeah, how about that? I'll be back. If you're looking for potential trading setups in the stock market, then Rocket Equities & 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 & 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. 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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Hi folks, so that's... service now so it has a round number open at 717 has a higher 720.6 debt and now it's just kind of stalling doesn't mean to say it has to go down it just says stalling right now had a spectacular move what happens next is very important if anytime in January I'd probably say the first two to three weeks if it closes under 676 it's in for a deeper pullback doesn't matter how deep at this particular point because look at the long-legged doji in the weekly chart and it just says that that 200 period moving average is way down 475 there was a great spring board so that's not even in the cards at this particular point you have to look at the weekly 9 period moving average of 670 and then 647 for the 14 period moving average upside says once you close two out of three bars above the left side v or cup shape formation that says hey be careful because now your upside is not limited anymore in fact it's open territory so watch that very closely now within that content I just do something more what did I just do here left side right side price time actually we do the same thing here didn't I just do that but maybe not no I didn't it was a different chart so this one here has to go to the doji candle right there and because it can't go to the low you can see just visually look in fact this would have normally have gone to that that little smaller bar right there so that would have said that you are taking okay there it is okay yeah and that goes exactly to pink right there it is and that takes you to a next month takes you to january so we've already got there in a shorter time frame now normally what I do I did this a little bit hurriedly I should have done it in the weekly chart and then I could have taken the chat with inside wedge target resistance line right there and said okay that's exactly oh that looks look how beautiful that is and that fits exactly and it says either this month or next month it should hit that 707 60 level so then it just hit it so okay that says it's accomplished everything but look at this look at the monthly chart of now this is service now ink that 407 702.78 up five the bank these goods the castix flooded 90 percent on bounce volumes go a long way to go before it's overboard look at the weekly chart overboard it's pulling back yet all you got was the sideways long-legged doji with a with a containment area make these good nines over the 14 very interesting I just I could go on and on I'll do a couple more because it's really important that you at least get a sense of course when you write something down and you can't even read it a net a net there we go a net is arista networks made a new all-time high as we're speaking today at 239 oh it opens with a round number 239 0 0 240.68 was the highest training at 237 down 90 cents now is this a g slash c is it a g is it a g slash c what exactly is it and you don't have to do anything just yet because what you really want is to do the vertical test this is training at 237 so let's go to this high right here and look that MACD was improving very strong sarcastic was good flattening on balance volume gave a little bit of a v-shaped turnaround nines over the 14 and now look where we are right at this moment we shouldn't really do this I should wait for the peak before I do that but I'm just going to say in preparation that there could be a turn down look what we're doing we're doing just a fractional high above the high of six sessions ago the MACD is turning just a little bit lower sarcastic is quite a bit lower at 85 percent but still strong on balance volume is a little bit lower but that nine is still over the 14 but it says it's a work in progress and that I would not be surprised if arista network and this is part of the xlc which has had a spectacular move this is the this is the communication service select sector spider fund none of the all-time high in the 85s from back in 2021 it came down to 45 now it's turning at 72 and the monthly chart is still pretty strong wiki chart is still pretty strong leg e I'm going to call it e I could call it a brand new b but this is an e it looks like a continuation pattern to me everything about nine-period moving average never went negative so this is says this is an a this is a b this is a c and there might be an attempt to go slightly higher to d so all of this says the more work I did over the last week I'd go all the way through to last uh Monday actually so all week and all of the weekend long weekend I mean just looking at charts looking at charts we've still got our uh do we still have even today we have three or four at least three positions that we would like to buy but I'm saying to subscribers when I start to increase the number of positions on a single day that I want I always say oh oh watch out you're real close to some kind of a turn down so tomorrow I'm probably going to lift all the new buys and we'll just have patience to wait something out it depends on how we close but I'm looking at this and saying no matter how I analyze the markets so much says to me that um we are very close to at least a digestive phase uh yes a little yes FMG annuities in life as insurance they've seen the monthly fabulous chart leg e in the weekly fabulous chart a little overbought look at that on balance volume and look at the uh daily it goes to a tiny little doji candle at an all-time high at 48.14 shredding out 45.21 no big deal yes you're dreaded h pattern lowercase h they could come down uh but it's in a rectangle formation just digesting these guys I could go on and on I mean I could go on and on net look at this tiny little doji candle at the most recent high peak d going sideways leg e doji candle in the weekly chart only a leg c in cloud fair it had once upon a time a move to 238 was a 222 21.54 was the high november excuse me November of 2021 tumbles down to the 39.40 level and then and has a good rally and this just looks a little overbought to me needs a little digestive phase that's all um I could just go on Rolls Royce I can go on and on and on uh xp I mean just look at this xp where did it go xp investments including this is uh has private wealth management pensions goes to a b I could call this a g but right now I think I can call it a b and it looks to me like the turned repeat moving average in the weekly chart once 27.57 is trading at 26.27 right now still a little bit of room to go but it's just fascinating over and over and over all these different charts now let's go back here so what I want you to show you is look in the s and p the s and p monthly chart has gone to a leg d that supersedes the previous peak b it doesn't have to get to 48 18.62 it could fail right here I don't think it's going to fail right here but it is already a leg d as I said for months for about two years now I said how on earth could we go to a peak b and not go to a c and a d in the chairman wave monthly charts it is rare ever not to go to a d so we've already gone to a d that it's under the previous side look at the q q q this is already a leg and brand new leg b and that just says to make a p t is an obligation of chapter b by mode which is in should go to at least four higher peaks pd because then you think we can't get a p until about 2000 I'll be back basil chapter does 109 uh and we'll get you some of the magnificent currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe which is why it's a great time to try out teddy keg stats tiger forex report teddy keg stat breaks down the forex markets every monday using his 30 plus years of experience as a trading veteran of futures forex stocks and options teddy releases his weekly tiger forex report every monday morning with coverage of all the major currency pairs including the dollar index the euro dollar pound dollar dollar swiss dollar yen as well as many more and he also has 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attempting because we have to wait the full month attempting to break out of the rectangle formation that's gone from a lowercase h i didn't draw it in but i think i need to draw it in it's a repetitive arch formation and let me go from this here so here's your first one here's your second one right there there's the monthly chart on the right um it's actually one two three this is the fifth one look one sorry fourth one one two three and here's another one which went to a lower low so a lowercase h and chart weight methodology is where we're looking at uh let me just get there right now like there where you can go from arch formation faded about a peak a or b and then come down and retest maybe not taking out the left side low unless you're taking us very sharply that's the dreaded h but in this case if it holds it can make another arch and then another arch sometimes you can do a few times eventually either the breaks decisively above the arch highs or it breaks below and that when it goes below it goes almost a one to one to the downside when it's used up so much distribution sideways so this is what we're looking at now it's gone in a monthly this is a monthly going on for two years and it's gone from one arch to the second that's a lowercase h that goes to a lowercase m then it makes another h so it's like a little worm and then it breaks to a slightly lower low it goes to the 161 or two level and then it powers up and this is a brand new gray leg a but why is it great because the man keys go away for the month to finish but it's only just now for the first time cross positive um it's the stochastics only at 40 percent is still weak the on balance volume is good but not great just good in the in the monthly chart very good in the in the weekly chart and that just says this is going to be a base of support they could turn and i'm going to draw this in here as the potential that this sometimes turns into a very large deep cup formation like a deep dish pizza i like to thin cross myself um so here's it so if it can close decisively the 203 to 204 area by the end of the month remember stocks my rule of thumb has always been if stocks hold very well and come back to the yearly highs or close to the yearly highs after september smash the downside by the last week of october the first week of november that usually portends a very good close not not not necessarily at the highs but very close to the highs at the end of the year we didn't do that this year we were about a month late became at the end of october beginning of november that's slightly different to what i normally think of so this is for me a little bit uncharted in the sense that i don't have the history behind me but i can say that the power of this move says we could have distribution for the next four days going into the end of the year with maybe a slight maybe two days sell off thursday friday or maybe a spike thursday but whatever it is we're going to be close to the highs that's number one number two is that monthly chart in the rossel 2000 very different to the i wb that that is already in leg d almost looks like the s and p made a peak be a 267.13 back in january 2022 tumbles down under 200 comes right back and now it's in a leg d the high is it's under the 267.13 the high of uh five days ago six days ago uh and now what we're looking at is this is a brand new leg d so it's more mature than the this is a russel 1000 not the 2000 completely different chart formations you wouldn't have thought that you would i would have thought wow the 1000 must be weaker than the 2000 i'm not sure why but that's just kind of waiting while i'd be thinking no i have been following this for a little while now so now here's something else that i want you to do quickly before i forget three times i was going to do it and i forgot and that is the bitcoin look here's the bitcoin sideways is this rectangle it's a very powerful medium when you look at this pattern that i call first of all a source of is a wide rectangle and then it goes to the longer it goes it becomes more narrow so look here it is and just says that it started to stall stall doesn't mean to say it's failing anything it just means it needs a bit of a breather it's had a huge move up this is the bitcoin futures continuous contract all time high up near 70 000 plummets down under 20 20 000 comes back again so i like this this is an arch formation this arch formation says it could rally to maybe a peak c or a d very close to just under right on it just above the previous high and then you've got to be careful well it's kind of in the middle and this is the rectangle that i have a whole i have a webinar a couple of webinars even on the rectangle formation this one says be careful because it's more like the arch formation within a rectangle and that just says it needs very quickly and i mean quickly i'm talking about my next week it needs to get into the 46 000s because if it breaks under 41 800 there's a really good chance it's going to take a breather and take out the 40 450 low that was made on the 11th of december all right the other thing was a question was hut hut hut hut is hut oh man i used to have this notated i don't anymore in fact we even had as a trading position once hut eight corporation company this is the bitcoin area look at this spectacular move from eight it doubles to 15.66 almost 16 so i like it very much but it's going i think it's going to start here at the 200 period moving average in the weekly chart gbtc has a slightly different pattern it's more like the bitcoin itself and hut is not like coin at all the coin itself look at that coin it goes from the 200 period moving average as a springboard back at about 78 it's trading at 177 right now the quickest move look at that powerful move in percentage terms that is huge almost 60 60 uh it's a double it's more than a double uh 360 hey it's almost it's almost a triple that's a fantastic move in october so um that's a different chart so hut is kind of playing catch up so another one i want you to show you that it's not a leader it's a follower and i think at 15.6 56 right now up 72 cents this is a brand new brand new brand new yes this is a brand new leg a peak a leg b still leg b so this is early in its move up but it could have a bit of a digestive phase um 14 would be 14 20 would be very strong support and i suspect that it's going to go sideways with a couple of little pops i think the chunk of the move has been done for now just my eye says it and that it should balance a little bit maybe make a c and then a d but i suspect that that weekly uh 15 what did i say it was 15 38 15 let me check right now 15 23 15 23 level is the magnet of the 200 period moving average i hope that helps you what was the question oh the vix index vi x now i'm watching this very closely i i didn't do any work on this because i got a lot of work on this for the last couple of weeks the volatility index has normalized i thought it would take a while but it didn't take a while it took forever to normalize to come back into the 12s 10s i hasn't got to the 10s 11s and that just says to me that we are ready to start fresh in 2024 and i'll discuss it as soon as i reach here the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market the us futures market and the shanghai gold exchange the gold report tom obrien publishes his weekly gold report every monday morning for subscribers consisting of coverage of the x au hui gdx the dollar bonds the south african rand as well as 25 different mining equities with specific buy sell recommendations the gold report new subscribers get a 30-day money back guarantee so you have nothing to risk subscribe to tom obrien's gold report newsletter now at tfnn.com are you ready to take your trading to the next level introducing 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as traders and active investors distributor four side fund services llc this program is brought to you by vista gold traded on the nyse american ntsx under the symbol vgz we're looking at 13.57 right now up 54 cents so i have to consider that that is an a right there a and that is a b with the low enough forgot to type that in i was looking at it the other day i think it was something around 11 something 1181 right 1181 1181 takes you to one of the lowest levels it's been at for i think it goes back i don't even think that was low enough now 1142 there it is that takes you all the way back to november of 2019 four years ago and i'd said it'll take a long time for the north this is the whole thing through the covert etc and that just changed the whole aspect of the vix index now it is normalized now i can look at it and say i've got a sense of the structure as it pertains to different candles different implications that i look at look there's a little doji candles called chamois sun and doji's the bar after the 11.81 level of december the was that 13 december 12th so december 12th um and these are all important to me but most importantly what i'm looking at is 23 what i'm looking at is this particular purple line right here look at it whoops there we go look at that purple line we were down at some point we were at 10.28 then all of it that was back in 2014 at a huge spike china u.s rates remember all that stuff that went on um domestic went through 53.29 august of 2020 uh 2015 and then plummeted down to 8.56 right there that's north korea also trump comey i mean i've got this all written in here and all of a sudden 8.56 back in uh november of 2017 and then it popped up to 50.30 higher yields it's always the same thing yields tariff uh china saudis wow that had everything oh impeachment i've forgotten right um anyway that was below 8.56 and that was um november of 2017 that that's uh four years ago what am i doing eight years ago ah what am i saying six years ago now what we're looking at is this is new so this purple line here is became going to become much more important over the next i would say six to eight weeks going to early february and i would not be surprised in this interim period yeah it's just one sudden pop and it takes you away from the 12s 11s and it pops you into the 15s and then the 16s and then there's one sudden move i don't know if we go over 20 just in this particular time for my i need more work the first week of january to see something else but you see this w formation in the mac d well this w formation very often portends the histogram is improving and you can see that's exactly what's happening here this is the monthly chart of the vix index and the stochastic is way off the lows and here we are at all-time highs almost in many some some indices all-time highs other indices very close and yet you've had this improvement in the technicals and that's just giving me a hint to say that in some aspects there is there is an overbought situation in a majority of important stocks and that's going to pay a penalty at some point and then it could revert back to going down again but i think we're getting closer and closer to a move in the volatility index and that says to me that don't ignore the fact now let's just do this i don't unfortunately don't the trade session doesn't have new york stock exchange anymore for some reason well not for any more but for years so i'm looking i'm going to have to use i'll go to say a benchmark of wt wt is wisdom tree exchange traded funds actually i'm not going to go there i'm going to go to the vt which is the vanguard total world stock etf it made a pd back at 109.30 in november of 2021 plummeted to a low in i think yeah that was in october of 2022 at 76.80 and it's now traveling very nicely with an alternate count look g s c gets an alternate count g s g gets an alternate count of g s c and finally you've got your d after a little tiny dodgy candle on friday there it is as your d and a lot of this is saying to me this is the world vanguard total world stock etf it tells me that that weekly chart cannot be ignored as really a leg b i actually have to call it a peak b because last weekend a slightly lower high everything about it with the stochastic in 97.08 just at this particular point i just i don't see any i i don't see any reason to call it a g or anything like that it looks like a b it acts like a b i'll change my mind when this changes it and it's just saying to me that this whole area from 98 to 102 you could digest all even 97 to 96 you could go all the way down there and still be in a spectacular weekly chart i that's really what i want you to do today just to talk about those weekly charts that if we close even this week if we close even reasonably well and this is now leg c i should say in the weekly chart of vt the vanguard total world stock etf i mean this is this is telling us an incredible story with all the bad news that's out there um 109 was the all-time high the 85 was the low most recently nasa 102 it's up 20 it's up what 30 percent or something like 25 20 percent and it's getting closer and closer to the all-time high this is the world total vanguard etf that is impressive i like that that is really important so let me just sum up and this is really what i want you to do is that the volatility index the vix index is telling me just on a very near-term basis just be a little careful here um we were kind of stretched the elastic rubber band is really stretched quite a bit on the daily chart weekly chart i i'm not talking about that i have to wait for more evidence but at this particular point that's what i'm looking at and even more importantly what i'm looking at is my my chaplain wave dark news cloud cover uh yeah there are two world war the world wars with major wars going on right now but i i can't really put anything just yet i want to say there's a little hint i don't even know how to put it in here as a hint a rectangle can i put the rectangle in right now and say all right there it is but it's really not a dark news cloud cover so let me change the color let me get it closer to there oh that was wrong sorry let me get it closer to right there uh full color let me go to that there are so full color still looks too bright to me it needs to be darker i call i really i don't the interest rates the yields are at the lower end of the run the dollar is at the lower end of the run the um uh other factors there's no there's nothing like the political um confidations that are going on it is really in fact the market they might be in the background the market is so hot so hopefully you'll be too dark okay i'm gonna see me pull it in and say full color there it is No, it looks terrible. 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That's on a purely technical basis, but it really is because there must be a glut. It's just that natural gas has been under incredible pressure for ever. I mean, just remember when I made that peak deer that resistance level that we're talking about way back in 2022 up in the 34, 35 area. And here it is at $4.87. At some point this is going to become in demand. I think we're getting closer, but don't mess around. I would much rather be buying high highs. Whoa, it's at the end of the show, high highs and high lows. So just a cautionary moment here as we need to assess what happens over the next few days. But most importantly, those weekly charts are still very strong. IWM, yes, IWM is definitely playing catch up. That's why everyone was about the other day. And I'll be back with Tom a little later on. Check out my prequel, my daily newsletter. Hope to see you this afternoon.