 The following is a presentation of TFNN Trade what you see With Larry Pezzavento Toll free at 1-877-927-6648 or internationally at 727-873-7618 now Larry Pezzavento Okay, looking good Billy Ray feeling good Lewis. That's a total lie We're having lots of trouble here in Tucson with data and internet connection folks So if I lose you there's nothing I can do about it It's been off and on all morning something's happening in the neighborhood, but I don't know what it is But right now we're up and running. I posted the chart of the German Dax As you can see it had a little bit of a ABCD structure up to the 50% level sold off So far this morning. So we'll be able to see if it holds up That's really what we're going to be waiting on today Now we went up and made a major test at that 61% retracement in the S&P that we talked about quite a bit And so far it is backed off Let's just bring this up to remind everybody that this is what we were looking at And you'll be able to see here that we got up to that exact number except as a matter of fact at 259 anyway That's what we're looking at now. Now what we've done is very interesting folks out because this is really important Here's the ballgame right now in the S&P from there's from the chief seats here in on broad street here in Philadelphia, Pennsylvania That that number that we hit this morning at 2912 I believe in the S&P is a 382 retracement So it's very important that we stay above that if we start going below that that's going to be telling us that You know, we're heading down a lot more But that's that's neither here to there We don't know whether that's going to happen or not But if it does that that will be the reason it's at a real critical level for sure We want to take a look here at also the footsie because it's also doing the same pattern And we'll bring this up here You'll be able to see that we made the 50% retracement on the footsie just like we did with the Dax It hasn't moved down very much So we'll see the pound was hit Last night had some really good support In fact, we we talked about this one in one of our videos the importance of the support here that you had a near risk-free trade in the In the British pound there at that 12285 level and the key word there was nearly risk-free trade because once we were only risking 10 pips on that and It court once it broke there Just you know cascaded to the downside, which is that's what happens when they look at these things So we're seeing what's looking at we're chatting here in the den this morning about inflation and food prices and stuff folks This is nothing come on back in you get most you people weren't even trading back in the 70s when we had food inflation They used to have supermarkets were being picketed by the housewives And that's when cattle was selling for not even a hundred bucks and now they're at a hundred a quarter You know, so don't they it's just a main and they change all of the that's what Volcker did Volcker went in there and learn how to change the indices So people thought that there was less inflation and that's what turned it around And of course they should they slammed the door on the 13% Treasury bond rates and stuff like that. And what do we have now? It's the exact opposite. You know, it's really It's really amazing Anyway, we'll see we'll see what happens with some of these things But let's remember I wanted to bring to your attention. I'm a big fan of Dennis Gartman folks I really you know, I've known him a very long time. He's a really nice fellow But I have to I have to pick a bone here. Let's just get it up here And I'll bring you said he posted here that this was a chart that he's looking at in the S&P and Basically, it's a weekly chart and he's saying that the chart of the Dow And they eventually proved to be a textbook head and shoulders top folks It's not a textbook head and shoulders top if you go by the work of dr. Andrew low From, you know, the the non-random walk down Wall Street that was written in 19 or 2002 In order to be a perfect head and shoulders pattern the left shoulder that you can see there is Lower than the right shoulder correct and the time distance between those is not correct This is closer to a double top or a three drive to a top pattern than it is a head and shoulders pattern And that's the way I see it But those were the rules and Andrew low put out so we'll see whether that's going to be The case or not that I don't know but we'll do one thing at a time as we go through and look at some of these things the other one that was interesting is that Dennis posted a A real interesting thing on the the sudden move in China buying gold now I don't know, you know, you can see it's spring April July and October Evidently they've been adding to their reserves. That could be the reason, you know, why are we having this big move in gold? Now gold held if you remember when we were talking yesterday when we got down below that 1495 level that was very strong support and of course we've had a nice $20 rally From that level stopping exactly at the 61% rich race one of the high that we made Sunday night at 1519 if we get above the the 1520 level, then this is going to have legs I don't know whether it's going to happen or not All I can tell you is that it's got a really good chance of still going lower here Because if we look at platinum palladium and copper and silver, these are not these are not bullish markets folks They're just not they're not lagging on like we are with the With the gold silver you can see here as we talked about this many times We're still waiting for that 1660 level in the silver whether we get to there or not I'm not sure but you know what? Nobody else is either now. We are having some Just from just from just what's going on with some of these Futures charts. I wanted to bring to your attention one that we watch here for Ruby, of course And that is the let's get this up here so you can see This is the hog market. We were ready to see a nice retracement in the hogs The number we were looking at is around 6400. I believe that's where they got to Yesterday or this morning. That's where they're trading. So it's important that these Christmas hogs Stay right around this 6463 level because if they don't and if they don't that means they're going to be going a whole lot Lower but we'll have to wait and see if that is going better and better Folks, you know, they can talk about all the inflation and all the other stuff But the quality of our life no questions about it, you know, look at the look at the average age now Here I am. You know, I'm running into eight decades boys and girls and I certainly, you know I don't know how much I got left, but I'm still feeling relatively good But look, you know, my my grandfather he lived to be what 96 my great grandmother lived to be 103 My mother she lived to be 48 and and my father lived to be 60 So, you know, they were heavy smokers, but you know that the average age now is increased So we got a lot to be thankful about the problem that we're having is is what's going on in the world with all these Political things that are going on. I mean, I've never seen anything so sickening in my whole life I mean, it's just it's just amazing what what's going on, but I can't let that bother me and I try not to watch it at all So we Okay, okay. Oh the the hogs hit limit down Really? Wow. I didn't know that son of a gun. Okay. I'm really focusing on the S&P here today and stuff because you know, that's really the Yeah, I saw that yesterday Okay, let's get All right, let's let's move on here someone asked the question with having a pretty good rally today We had a we had a point two point drop two and a half point drop in the bonds They've since come back and are testing those highs again up at that That 165. Oh three would be right back eight seven seven nine two seven six six four eight If you're not currently using the TAS profile scanner when looking at setting up your trading opportunities Then your arsenal is short a mighty weapon The TAS profile scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks ETFs commodity futures and forex headed by Steve doll TAS understands that in today's World the use of top flight software Applications and technical analysis expertise is essential to successful trading in today's market You also gain access to the webinar that Steve doll and Tom O'Brien just hosted the best way to use the TAS profile scanner To profit this webinar archive is available for all subscribers immediately upon signing up all new subscriptions Also come with a 30-day money-back guarantee so you have nothing to risk start your subscription by visiting the front page of TFNN.com today, and you'll find the TAS profile scanner under the services tab sign up today Are you in the market for buying or selling real estate in the Bay area including the surrounding st. 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They're only buyers and no sellers So that's what you have to know in the in the cattle and hogs it happens Once in a while it doesn't happen too much in the grains anymore because the limits They expand them enough and then stock indices of course are so wide that you don't see those at all So they don't happen very often But you don't want to get involved in a limit up and limit down situation because it's uh, well It's okay if you're on the right side of the market, but if you're on the wrong side of the market It's not a fun thing to be on so that's what limit up and limit down means And I believe we have mr z on the line now. John. Are you there? I'm at four hogs today would be a limit of 4.5 cents So that just gives a I also wanted to share with lary something regarding the hog market What i'll just share with anybody who's interested driven by uh Demand coming out of china china is limiting somewhat its purchase of us pork Going up and shifting from other countries back to the us So that if you're interested is uh 2016 through this year And that all came in recent 2014 It was a summer of 2014 from the job and that was an excellent example of what former tfnn host Ed young used to say The cure for high prices is high prices So we had very high prices and uh years ago the industry responded Increased that took a while to uh to unfold, but that's now in place The reason for my sharing all that here and now Is to say coming out of china Would likely not be at 67 on its way towards 40 So anybody who is trading december or february hog futures Please keep that in mind and thanks larry and tfnn team Great to have you guys all here larry pezzavento has just started his brand new service fibonacci 24 seven And he's already delivering content to his subscribers on a daily basis when the markets opened and even on weekends Each monday you'll receive larry's written report that provides detailed commentary and a summary on the charts and videos that larry sends out And throughout the week when warranted larry will send out via charts or videos or both The key markets that he is watching during the day This will be up to the date active trading information that will help you in your daily trading in larry's first week alone He sent out 25 charts six videos and a full report to his subscribers in just one week If you're a technical trader that uses patterns and retracements to trade then larry's service fibonacci 24 seven is something that you must try right now new subscribers can get a full 30 day money back guarantee With nothing to risk sign up now to larry pezzavento's fibonacci 24 seven by visiting the front page of tfnn dot com under trading newsletters