 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. Good morning, everyone. Basil Chapman here. This is the 806 timeframe Eastern time. I should be recorded and replayed at 10. So this is a pre-market opening. The Dow futures are down 120 at 32,066. What a vicious turnaround yesterday. Week in the morning and then the Fed comes out. It popped up. The futures popped up. Then all of a sudden the market started to come down and then it soared sharply higher to a new recovery high. In leg D in the, this is the YM. This is the Dow futures that I'm showing you right now on this Thursday, the 3rd of November. And I don't know. A vicious turnaround when the Fed, so 2 o'clock everything's looking great. 205 and then all of a sudden 210 and then whoosh at 230 when the Fed comes on it just market tanks and closes down 500 points. So we're looking now at the 200 period exponential moving average as becoming a key factor here 32,250 in the futures. And I don't know where the price will be after 10 o'clock because we've got news coming out. I think 8.30 this morning of economic news, probably at 10 o'clock. So whatever it is, most important, if you're looking at the weekly chart right here, look at the symmetry of these cup formations. And I've drawn them actually as an ask just to show you what I'm looking at in terms of time. I'm going to actually get rid of that because that's confusing. The real pattern that I'm looking at here is the exact opposite. It's at the bottom with a cup formation with lower highs and lower lows. Now we're getting to the Chep Wave inside track repellent zone. One of the reasons I say to subscribers to my opening call is we're going to take some money off the table and now along very long positions, the DIA, which is one to one long plus the three times long, the UDOW, three days ago is because going to a D in the Chep Wave methodology is where other things can happen. Yes, it can go higher, but that's where you raise your foot off the accelerator, hover over the brake, and just see how the sun falls. This is an inverted Chep Wave Roman candle. It's a very simple technique if at any point in this long wick to the upside, the DOW starts to trade at 32,800 and can hold there for about 90 minutes. Then there's a really good chance that within a very quick period of time, the same day or the same bar, the very next bar, there's a test of the high in this case in the futures of 33,106 in the DOW itself. I'm spending a little time on the DOW because that is the best index that we've got at this particular point. I've been noting that for some time. So that is a peak date. We're almost to the target on the left side. In fact, the 32,504 level was broken. Then the very next one is up here at the high that was made on the 26th of August at the DOW 33,364. I think that's going to have to wait, but I do believe that there's buying going on in the steep cyclicals. Can you believe that a caterpillar, I mean, if ever there was a deep cyclical caterpillar, heavy duty equipment broke above which have we've inside track repellent zone and Boeing. Boeing is doing very nicely off the bottom. It's not great. I'm just saying it's a deep cyclical. And look at that leg. Even with yesterday's huge turnaround in the overall market, Boeing still ended up on a closing basis at 147, but intradate went all the way to 154, was it? 153,59. And today already in the future is up 59 cents. So something's going on in the market that is very different. And we will be very select in our position in our positioning of longs. Most importantly, what we're all looking at here is that the money that's coming out of the tech sector is now going to specific areas and that's really important. And the specific areas are not always in the same stocks, all the stocks in a sector, but it could be the leaders of that sector. Okay. So now I needed to go to, let's see how am I going to get that? Yeah, I'm in the wrong place. Oh, sorry. You just needed to move something over. There it is. So a question came in. Yes. So a couple of things are happening right now. Let me run them all. So we've got the, I'll go to the continuous contract because this way you can see it in all time frames. The E-mini, this is the continuous contract, trading at $37.42. It's almost exactly the same as the December contract. Made a peak E on Thursday. Yesterday did not make a new high. Made a leg E. Then yesterday didn't make a new high. Then it becomes in the shadow of a peak E. Look at the sharp pullback. So that's the same to me. We're in this, we still, one of the reasons why I haven't for subscribers gone fully invested. We're being very select. We built up a huge cash position. We were intermediate term short. We got taken out of that short finally. I think it was on Thursday, what do you mean? Friday, on Friday. And now we've only got long positions and we took profits in that intermediate term short from August in the DOG, one-to-one short to Dow. And I'm being very selective. And the reason is that that wasn't a low. We were seeing, oh, I don't know if I can do this. Maybe tomorrow in technical Friday, I'll go to this particular chart right here. Let me see. I can go to it. I'll put Dow INDU. And I'll just briefly show it, but tomorrow I'll talk about it in greater detail. That's this chart right here. This chart, that's the other chart. I don't know if I can find it. Yes, I can. There it is. This chart right here. Oh, no. I didn't mean to do that. I'll have to take time in the break to get it back. All right. So that's gone. I'll have to find it again. In the meantime, it has to do with my internal loan, residual loan. I'll talk about it when I get back. Hopefully I'll find it. So in the meantime, let's go through the... So that's the S&P. The QQQ, which is trading pre-market, made a PXC and is turning round. So fading into PXC, you've got to watch this really closely. So these NDX100 stocks, they're still under pressure, and that money is going into other areas still. I thought it would stop at a certain point. In a certain sense, some stocks are starting to move, but generally that NDX100 is acting very weak. IWM was acting very nicely. Then they got hit very badly yesterday. Look at that candle. It wipes out five days of trading, just like that whoosh. And so it's trading down $1.27 at 176. We're looking at gold. Now look at gold. Look at these patterns. Gold is down $25 at 1625. This is a pattern I call the H pattern. It comes down sharply, and then it arches over, and either at a peak A or B comes down. If that takes out the left side low, that's usually a very, very poor indication of strength, rather it's weakness, and 1622.2 was the low in the continuous contract on the 28th, and today's low is already in the 1618 area. So this is going down to yet another leg D to the downside in gold, and that just says to me, be really careful in all these different sectors here. Cash is a position, and putting money to work selectively, I think is the operative way to do it. Look at silver. Silver had a much better chart formation. It's still a better chart formation, but it's weak today, 18.99. I'll go to the dollar. As we go to a break, this is Basel Chapman, early edition, 8.14 in the morning, instead of my usual 10.14, and look at that strong move in the dollar, and that's adding to the market weakness. I'll be back in a moment. Basel Chapman, take a traditional hour, early edition, and the Dow futures are down 162. It's down to 27. I'll be right back. 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 Kegstad's Tiger Forex Report. Teddy Kegstad 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 weekly coverage of the crude oil market and the 30-year T-bonds as they both influence forex markets tremendously. 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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. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks, and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com, educating investors. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter at TFNN.com. The Chapman Wave up-down sequence gives you a full refund within 30 days of signing up. If you're not satisfied, let us know. Get the opening call newsletter at TFNN.com. The Chapman Wave up-down sequence gives you a full refund within 30 days of signing up. We've spoken about internal lows and residual lows. This goes back decades. It goes back to years where you saw a low in October in some of the indices and in six months later in March you would either get a lower low or a higher low. Sometimes it was the semiconductors that made the low in October or the other way around. But whatever it is, I start to look at the markets and say, I think it's like an earthquake. You get the earthquake and then you get the aftershock. Sometimes the aftershock is even worse than the earthquake. Sometimes it's very minor. But I just related that to the market. So this particular chart goes back a long time. I don't want to go through that right now. You can see internal low, residual low, dark news cloud cover. The market has always got some bad news. But when it takes the news seriously instead of being just ignoring it, you know, climb a wall of worry, when all of a sudden that wall of worry becomes a barbed wire fence, that's what I always look at. So this is like May 2021 internal low then back in late June you get the residual low and arch formation successful. It goes under and then quickly turns up and many of these these gray rectangles represent certain aspects to it, especially the top. So under these conditions we've had an internal low that was made back in, right here, back in September, late September 30th a bounce and then there was a residual low and that's one of the reasons why I kept wanting to go and we kept going along the diamonds with a little bit of a gain each day but I knew that it was going to click in and then and now we are along from just off the lows and what we're looking at is that resistance like simple trend line, you know, I've spent all my life in the market as a technical analyst ever since studying Joe Granville's unbalanced volume, I used to hand chart and I've always been an absolute admirer of trend lines because they tell you in one line it tells you so much, you're just joining the peaks or the troughs and every time that's how I developed the technique called the inside track repellent zone. Is this not a repellent zone? Look at that. From the high that was made back in January look at this beautiful trend line. It hits the high right here back at what April May pulls back hits it again back 16th, 17th of August pulls back and here we are once again hitting it with yesterday's well the last four days going right to the trend line and being repelled and that doesn't say oh now we're going all the way down what it says is now you've got to be a bit careful and that's the reason why we are stepping back a little bit. So we've made the internal low we've got the residual low we've had a huge move through the upside now we've got DNCC which is the potential for a Chapman Wave dark news cloud cover I'm not going to type it in today I want to see we'll be close today before I do that. Alright now we're out of that now let's go back to some other things see the dollar look at this the dollar made this H pattern should I go there I'll go there right now so this is a pattern that I always look at three three particular patterns that make up the market all the time straight line up straight line down cup formation that could be a V but basically you're going for one point down then back to that point and then arch formation basically you're going from one point up and then back again or a mix of one and two and one and three one and two says whoops what happens when you come back especially after peak A or B failure pattern you take out that left side low what happens within two bars is really important if you go below it then there's a good chance if you're ready you're going to stop at either a doji or a gap or a moving average resistance below the arch high and if you don't go under it it says there's a chance you can break above it if you close above the arch high that's really positive and you should go to the next left side high in this case there will be a hundred and fourteen seventy eight for the the dollar but you've got a close in the hundred and fourteen area so this is a great move that might be hasn't turned positive yet the nine-period moving average has just today crossed L the days young it's a daily candle so I can only talk about it at four five o'clock this afternoon and the stochastics rallied quite nicely but look at this expanding wedge remember this this particular wedge is this the one that had it right here yes there's the expanding wedge way down when it was down at eighty nine twenty one we've been along the dollar for since 2018 April of 2018 at eighty nine so yeah so what we're looking at right now is that this is a large expanding wedge a narrow large large meaning long and we're still within the parameters and you can see the answer trend like the bottom and there's a rising trend line so that's not a channel that is a trend line and that's a trend line and it's expanding so it's like a cone formation so the dollar so far has held very well within that and look at the USD JPY which is the yen where did it go did I type it in the wrong place please I didn't type it in the wrong place I'll do it again USD JPY there it is okay so this is fascinating to me because there was a divergence before and why is it not there are so many things that happened with this particular mouse let me go this is going to be insert format space to the right I want a little bit more yeah that should be 0 I don't know how it got to 0 these things are just crazy okay there it is so unlike the dollar the USD JPY the dollar Japanese yen was leading broke out to a peak D and then turned around and pulled back and made an arch formation took out the left side low and is holding at 148.24 when the high was 151 94 back on the 21st of October so this is stuck in a range so now you've got a little divergence there with the dollars holding a lot better looking a lot better look at this chart pattern DXY look at that a way better pattern even though it made the H pattern it did the cup how the alternation between cups and arches constant your straight lines that's what the market is all about so here we've got a rising wedge formation you've got the EUR USD this is the dollar this is the euro dollar currency pair and this one's fading made a peak C and it's pulling back but look it's way at the bottom it's really struggling to form some kind of some catalyst to be able to say I'm breaking out I'm going to the 1.04 area it's just stuck here under 1 0.975 right now so it's acting very weakly I didn't do silver I just did do silver I didn't do high grade copper high grade copper it's stuck in the lower range look at that put it together with wood because these are international wood is the ice shares for the global timber and forestry ETF that's going to peak ABC how many oh I thought I'd do that I wrote it down you see I almost forgot to look down at the page unbelievable I spent almost time preparing and then I don't do it this is A, B, C and there's your D the obligation in the chapter wave is to get you from a buy signal to a buy mode which says you're going to go to at least a D and then you've got to watch out because other things can happen other things are happening I'll be back and we'll go through a whole bunch of charts that may peak B if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30 day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN.com TFNN educating investors TFNN is excited about our new software charting program the 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sign up today and become a part of this educational community of traders just visit the front page of TFNN.com I'll go through back so I was talking the Chapman way methodology you're looking for at least four higher peaks and that is let me just move that away there and then basically you try to identify the lowest low count each successively higher peak ABCDEFG but it's a D it's never an H but a D other things can happen your obligation is to try to get from a basic starting point to at least four higher peaks a buy signal is upgraded to buy mode that implies it should go to a D how many D's could you get well look at this you get to a D or even an E but that's where you got to be careful so yes the one minute chart I drew this in just as I was going to start the show and so people could see this was I drew it in over there I drew in a cup formation I drew in the Chapman wave inside wedge target resistance line I drew the left side right side price time match and it said buy 806 there should be a test of the left side high right there at a D or an E and that was at 733 3470 3745.50 and lo and behold we went right to D and then we pull back and then whoosh right on that bar E leg E and continued higher and three bars later made a peak E by making a lower low I didn't have a chance to draw in the left side right side price time match here but the way I would have done it is from this particular low right here to that particular high right there I would have just gone click you don't have to have these rectangles or you can just everybody has a straight line you just take a straight line you you ask to repeat it and boom what did it do the exact bar this is what I call bar symmetry it's a big deal in the traveling methodology bar symmetry and here we are made a low and now we try to rally again I just love that and what is it it's basically it might look like an inverted V but basically it's an arch pattern look at that that's not beautiful and now it's maybe going to try to do the exact opposite you got a D and an E back at about one o'clock this morning in the 10 minute time the E may and a pullback in left side right side price time match so this is very important so what I want to do what did I show you here you got to a P D and with the ice shares global timber and forestry ETF pulling back but I I mean I just wrote so many of them down and let me just see the ABC ABC what is that I remember that ABC is Amerisource Bergen right peak D I just go on and on on catapult on a catapult I think went to an F Lulu lemon Lulu lemon there we go Lulu lemon peak D just keep going all the way through so how important is D look at those pullbacks and D right there and that's before today's opening so it's very important to be able to use that fourth highest peak and then to do some kind of analysis master card we're all over the show I didn't even do this this is peak ABC D so here we go from the low just nearly can't be successfully higher peak there it is the bar that makes the low cannot be the highest if that had that was a long move and the next boy had a lower high that can't be an A you have to move to the right you can only start that from after the low otherwise you don't know that it's a trough it's still just down there so what is this a B C and where does it stop I didn't even talk about that right at the 200 period expedition moving average how important is the 200 period you just put it in and let the market tell you if it comes there if it doesn't what it did in the daily chart of master card and look at this it hadn't been there since it got repelled back in August 28th and now it's back there so and the stochastic and make D and everything is holding pretty well I must say that many of these charts the technicals are holding very well here so it could have been some kind of an aberration yesterday because nothing is really changed from one o'clock yesterday to four o'clock basic news was kind of known I mean it was just wishful thinking that they were going to announce that they'd go 50 50 instead of 75 at the next meeting pretty much the same so I'm looking at this and I'm saying yes in a sense it's a buying opportunity and no in a sense you have to let the day play out it's just important to let the market do what it has to do today and if you pay up tomorrow because things are acting so well by the end of the day that's one thing look at this leg see in the IAA this is a really important indicator for me the I shares broker dealer and security ETF is still long from way back in 2023 and 45 trying to get back in lately and we keep missing it and it's acting so well in the daily but look at this it got repelled at the 200 period moving at the sorry inside track repellent zone so we're going to be watching this but it's still only a leg see it should go to a D I wrote all these these charts down but I don't think I want to actually go through it a Decker Decker is outdoors made a peak D in the daily it's possibly making a peak D in the weekly nice daily and weekly action but the monthly says okay it's just a rebound so there's a lot going on alright I need to do some other things questions that come in could I let me see where they are yes I could you please look at some of the some some stocks that could be really important like JPMorgan JPMorgan yeah JPMorgan ah it's it's it's done very nicely since the the 100 area low this is still only a leg B in the daily chart and it's gone above the 200 period moving average meaning that at 126 97 yesterday the 124 97 area is 200 period moving average if it touches it once it means that this is like a magnet line and it's not going to break away until it really puts it pushes into the 134 area that just says nice move in the daily nice move in the weekly monthly chart says whoa there's a lot of work to be done so that's JPMorgan what was the other one I wrote it down wrote it down and now I can't find it um oh yes you had spoken about LABL was it ABL or ALB album all recently it's in the chemical for electronics lithium petroleum refining utilities packaging construction transport farmer crop production food safety I mean this is just everything it's one of those stocks that I say wow I mean what can you not like about this stock well it's nearly all time high up in the 300s made just very I think it was there it is at peak E in the chapel wave on the 16th week of the 16th of September at 308 point 24 the trading at 266 after dropping very quickly down to the 230s on the chapel wave inside track propellant line zone and it's gone to where yesterday hit a peak D day before on what we're doing Thursday on Tuesday it hit a peak D and Thursday Wednesday it pulled back very sharply so yes this this is a tough thing just what do you do with stock like this if you're an intermediate term positioner then I'd say hey if you aren't in it put it on your list if it pulls back there was a 260 area with a five point stop five point yeah I'd say with the 5% maybe a 5% stop on initial position I wouldn't have I even go to 10% just on the initial position because it's a high price 253 now I don't want to get 25 points now I can't do that I'd say nibble on any pullback to about 260 under 260 maybe the truth yes oh it's down 12 pre-market at 253 at 253 this is where if you if you're interested in it at all I think it's digesting gains I think it's going to do a little bit more testing towards the 240 area to test this inside track propellant zone and see if it holds so I would just hold off in fact I'm going to say hold off for now I'd rather pay up because acting well than to pay buy it right now and see a suddenly slide shop so I'm just saying hold off for me rubberback dazzle chapter the early edition you replay that 10 o'clock but right now the features are down 222 in the doubt 34 in the S&P you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is sponsored by basal Chapman creator of the trading methodology known as the Chapman wave the Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by basal Chapman and your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com investors are china A shares hot or not if you trade china A shares now may be time to take a closer look trade CHAU or CHAD directions daily CSI 300 china 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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 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 this program is brought to you by Vista Gold traded on the NYSE American NTSX under the symbol VGZ it's quite fascinating we have such a wonderful crew out there in the Tigers Den I was doing the I was showing the chart just a moment ago and that was the chart of ALB Albemarle and then what happened was as I was doing I said well it's got all these ideal things this is very much like CF industries and I was about to do that and right there the dent says could you show could you show us the where was it bells again you post CF they reported earnings taking earnings hit after like many other times yeah so here it is and what did it do it made a pig D it's pulling back and it had a rogue wave basically it's a right arm extension to a pig G I said it could be a G slash A but I think it's more like a G so I put a G right here and that was that big spike to the 119 and then what does it do it pulls back sharply to the 90s bounces up to 110 and now it closes yesterday at 103 and this point is at 96 why do I talk about it because CF industries holdings hydrogen nitrogen products for clean energy fertilizer emissions abatement I mean come on this is just the story that you want it up until now so maybe we're going ahead and we'll see what happens after the elections next week how the market reacts to whatever the results are so let's just do this I haven't finished it yet crude oil right now is trading it's animated made a leg see yesterday is trying to get out of the chamber inside track repellent zone to make it a propellent zone it's kind of doing that but it still keeps coming back because it can't leave it alone just as to say hi to its friends and as it stands right now the crude is down $1.29 the continuous contract at 8874 and the weekly chart says you know you just stuck in a range even even this trend line you know a long trend line a long-term trend line can get taken out it's not a big deal time alone will take it out but how it gets taken out is important in other words if crude oil for a whole week trades in the 95 area I think that's going to be a big deal and at this point it's at 88 so we'll see what's happening there let's look at natural gas natural gas is down again today down $0.26 at $5.99 I've been very skeptical about it it looked to me like it was ready for a decent balance it looked to me like just in terms of cycles this is a cycle when natural gas going to winter actually starts to do very well usually it's already doing well by now it's fading some things going on that's different to other times peak D in the monthly chart look at that huge move sharp move down for the last couple of months so I'm watching this closely because I think when it does move it's going to move really quickly and then maybe it stalls so that 7.33 area and natural gas is a strong resistance at the 200-period moving average there was a repellent before remember we just put the line in and let the line tell us when you don't need it you don't need it when you do need it you sure do need it so that's what we're looking at right now so I don't want to run out of time because this is a show that's being recorded to be replayed at 10 I like to make it as relevant as possible even though we are doing this two hours earlier so 26.50 is the VIX index a big move up after going to a leg D to the downside look what happened at the peak D at 34.88 back on September the 28th huge move down then it makes what a cup formation then it makes what an arch formation the journey takes it out and then plunges down to where the 200-period moving averages is there a theme here absolutely there's a theme the theme is that these particular patterns just repeat over and over and every different sector and every time cycle it doesn't matter so we're looking at the VIX index coming to the inside track propellant zone in the weekly chart it failed once before but otherwise there's been a beautiful trend line and we'll see what happens if it goes under 25 this mark is going to go much higher if it pops to this at 26.52 if by day's end it actually starts to go over 27 it says uh-oh be careful the next day or two but if by mid I'll do this now down 233 and if this is 1046 in the morning instead of 846 where I'm recording this right now and the market the Dow is down over 170 points at this particular time in two hours that's going to be a very negative what I said to subscribers if the Dow is down more than 90 points after after 130 that's going to be tough to get back to positive but if you never know it's kind of markers if all of a sudden the Dow is up 40 or 50 points it means that it's discarded or at least disregarded the negative news from yesterday is now looking forward and you have to treat it that way but I said we're going to just step aside no new positions today we've got our stops in place or whatever it is just let the market take its own just its own rhythm just that's all you need to wait for so that was that I did that I did that I did that so the volatility index we spoke about oh this is something that's very interesting look at this CVS leg D CVS health core pharmacy used to be just CVS now it's health core and they can over other kind they're getting more into the medical area so peak D in the monthly chart I'm watching this closely together with WBA this is WBA's Walgreen boots alliance let me just get that click click there it is click in leg D how many D's is this somebody don't forget when you're coming off a low and I don't think that this is the low I think it's a low one of those earthquake and aftershocks bounce off the aftershock but I think we are getting sector rotation and in the sector rotation I'm looking for areas that have been very weak that are are they possibly in this Walgreens boots CVS they're in the area where you can raise prices to a certain extent and then it becomes a little tougher because people do their medications maybe instead of once a day they make it once every other day or once a week they make it once every two weeks and all of a sudden things slow down but this to me is a going to be a bit of a clue if in three weeks time we're looking at Walgreens boots trading not at 35 but maybe at 43 to 45 I think that's a slow move to the upside that says you know what in the rotation remember market has been since the March low of 2009 that summer and the following summer said you know what get ready for rotation instead of markets crashing together you get one sector that's been fantastic it takes a breather and another sector takes its place and that's what we're looking at here that's why when we're looking at the Dow look look how nicely the guys went right to the chat wave inside check repellent zone in the weekly chart remember the chart I was showing you with a YM and I said these different colored times time frequencies with high down and back to the lower high and then high low down to a higher to a lower high and we've got the same thing here this one's a little quicker than the others but it's saying this is only a leg A the others got to a B is this going to fail miserably and become an Eiffel tower straight up straight down like an uppercase A or is this going to pull back a little bit more maybe 31,200 as I said that to me is kind of key support for the Dow right now we're in 2009-48 so we'll watch this very closely do we somehow the second week the end of the second week of November is that yeah by the second by about the 11th I'll be looking at the Dow about 33,600 that's going to be important I'll be back in a moment futures are down dollars down to 19 I'll be right back 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 publish the gold report with coverage of gold silver bonds the XAU, 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 everything in the universe is governed by the Fibonacci sequence this mathematical 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beautiful round number high we're pulling back some in all the oils and we're going to watch this because it's a peak e and we're pulling back right now it's down So we're going to be watching this very closely why because when a sector becomes overbought to the extent that it just needs a timeout, it's still a major sector but it needs a timeout. Money flows and pulls out and as it's pulling out, it doesn't go anywhere immediately. It just comes out and then you wait to see where it's going to go. So in this pullout, let's look at Exxon for instance, also made, this is a leg, goes to a peak F, it's trading at 109, made an all-time high just two or three days ago. We'll be watching these CVX, not CVS, but CVX, made a peak D and is pulling back. So I'm watching this very closely. They don't have to crash, I'm just saying a timeout, a breather and a question came in about the XLE, same thing, peak E, almost a left side, right side price, timeout, just missed it by a couple of points, trading at 88 right now. It's up two cents, I'm watching this very closely, look at the weekly chart, legs C and a big double cup formation. So this is what I'm looking at, a rotation is going on, money is going into the Dow type stocks, just not all of them but a lot of them, the cyclicals have been doing well, what happens next is important. So all I'm saying is a little timeout here to see what happens and just to sum it up, I'll go to the YM which is the Dow futures trading down 235, probably I'll say to subscribers, now we're going to make a peak D and let's see how it holds support, 31690 is going to be supported in the very near term, it's trading at 31940. So we've got that done, you've got a great program coming up today, check it out, TFNN live and I'll be back tomorrow and yeah, I hope to see you then and I'm just going to, oh this is good, I did, oh SMH is as we were about to go to the break, a final break, leg D probably a peak D today, I think there's a little timeout here and use it judiciously and know what you want to buy, check it out, have patience in putting your bits, I'll be back tomorrow, have a wonderful day.