 The following is a presentation of TFNN The Tiger Technician Hour with your host Basil Chapman Call now toll-free at 1-877-927-6648 Internationally at 727-445-1044 Now Basil Chapman Hi everyone Basil Chapman Tiger Technician is on the 30th day of October one more day to go to get that monthly candle wrapped up and so far all I can say is there just been a series of higher highs and higher lows that's very good but and I'll go through this now in detail let's look at this Dow chart on the left is the daily chart in the middle is the weekly chart on the right is the monthly chart these two times these three time frames tell an interesting story why because there's been a stalling formation one has to deal with from the 7th from the September 27, 3006 high in the Dow that was on the 12th of September you've got a down channel this little green and red dash channel I call the Chapman inside track repellent zone and now for three sessions we've been above that well we dipped into it but basically we've been trading most of the trading is above that the MACD is not anywhere close to as strong as it was when it was making the high of the 12th of September the stochastic is at 85% also not as strong as it was but 85% is very good so on a daily chart pattern what we're looking at is all these D's let me pull this across here to show you all the way from April you make a peak D the fourth highest peak in the Chapman wave and you get 26,695 and you come down from the 23rd of April we're way down to the June 3rd low where we actually went along that exact day so you go from 26,695 we'll be sure of the day before the top and we went along right at the bottom at 24,701 then it ran up and what it had run to you see this Chapman inside track repellent zone it went right there to peak A pulls back and then breaks out sharply that was a break a real break to the upside and it does this kind of wedge formation expansion goes to 26,009 or five level month that was on June the 20 something like 23rd or so pulls back and then it goes to peak C and it has a rising inside track repellent zone low and bold it gaps up and it goes right to a doji high on the 16th of July 27,398 we're lucky we went short seven points from the top and it comes down and makes a trough E at 25,339 remember on the way down we do the notations but they have not as much importance as on the way up on the way down we're using the moving averages in a different very important way to be able to give us signals not that it isn't important look that was a peak F at the low on the 6th of June 3rd of June this is a peak E a trough E I'm sorry a trough on the way down on the 15th of August 25,339 so then it rallies and it goes to another D I just miss the following day for the subscribers we just missed shorting we did show a little later on and that worked out nicely and then it went down to from 27,306 in a left side right side price time match it couldn't get to the 27,398 in the it went close in the same amount of time but not in price and in time it was one day early and in price it was was a 90 92 points short of making the new high and it comes down from that peak D goes to the low of the at peaks trough C at 25,743 on the 3rd of October that is very nicely and goes to what I call the peak C1 C2 which has the same connotation as a peak D if it's very close it can't be way off it has to be very close and you can call it very similar to the pattern especially if you've got the technicals giving you that little bump but it just didn't quite make the nine points that it needed to go over 27,120 so it goes peak C1 C2 at that point excuse me we did go short to down we got stopped out a couple of days ago it was a good move but then we got stopped out for a loss less than a one point loss and now what have we got we've got another peak D what's what's the difference well the peak D before I had huge difference between the nine period exponential moving average the green line and the 14 period moving average both in September and last July and I believe it was the same in April it was closer but it was pretty much the same thing in April this is different which says that the stochastic is at 85% good the magnate is good but the moving averages are still very close they're not breaking down right here they're doing quite nicely so sometimes I have to use a tapwave notation to be ahead of the game that's the timing tool though I'm talking about when I'm talking moving averages I'm not talking a timing tool sometimes it'll coincide exactly with the stochastic turning around just like it did exactly at the bottom on the third of October I actually missed that I'll wait a little late but we did we did have long positions we only got long positions right now and one short position so the bias for me stock wise is more towards the the long side but index wise I think we're getting close to some kind of a pullback but that's what I'm trying to point out here that to have it four times in a row would be so unusual that I'm prepared that I could be wrong here's where I'm wrong if at two o'clock between two and 245 regardless of what the initial impact is market spikes high and then pulls back or drops and then pull comes back to any unchanged if after 245 the Dow is actually more than 60 points higher I would say that's really good a good response and if it's more than 40 or 50 points lower I'd say you know what there's a good chance we've started that digestive phase now one of the reasons why I say it's a little different is that in the context of the MACD the weekly chart the MACD right now is flat it is really close to trying to cross positive for the first time in a while since it made that high back in September so was that September that I'm talking about yeah since it made that high in September at a peak A and now I'm looking at it and now what I want you to point out is that in the chambering methodology look you've got the the technical show that the channel wave inside track in the daily chart is turning down it says that in the weekly chart it's turning down but wait a minute the larger context is the monthly and that's up and we have just nicked the pink starting point of the channel wave inside track repellent zone lower trend line and the up channel is way up there the green line and that's that it's right at 27,500 level so that's the reason why I don't want to get too carried away on the short side because a lot of the technicals are holding up or actually very positive and now I talk more about the other indices we'll be back because it makes my major do the technical thing today because at 245 whatever I'm saying now could be completely different at 245 I'll be right back down 10 points 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 technological world the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market you also gain access to the webinar that Steve 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. 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 called Tiger real estate LLC today at 727-329-8322 or email us at tiger at tfnn.com that's 727-329-8322 call us today many of our new listeners have heard about the Tiger's Den the Tiger's Den is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere hear all of the tfnn shows plus see all the charts as they happen live and have access to archives of all of those charts you can test drive the Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you details on the Tiger's Den or on the front page of tfnn.com tfnn has launched our brand new website you can still visit us at the same tfnn.com URL but when you do you'll see a new and improved homepage with a much simpler navigation whether you're watching tiger tv live in high definition or just accessing your newsletter subscriptions we even have new pricing in six months and yearly options check out the new tfnn.com now and experience all the upgrades tfnn.com educating investors call now toll free at 1-877-927-6648 internationally at 727-873-7618 hello we're back and we've got uh let's see we got miking clear water uh mike how are you good how you doing i'm well i can just i haven't been to clear water for what about seven years maybe uh maybe seven maybe say uh i bet oh yeah i haven't been since uh just soon after the debacle down there with the with the housing crisis so it must be yeah maybe nine years um must have changed a lot must be a lot in your buildings and things there well housing has definitely come back here real estate's great that's great we have global warming though it's 90 degrees today oh you got 90 degrees yeah we're not too bad here but we're here we're headed for the for the south side of the weather we're on the way down for sure um so mike you wanted to look at us steel okay do you have a position at all i do not i'm looking for an entry point so what i wanted to say to you is this um i did a quick little analysis that's different to what i usually do um a moment ago and um because this morning was on my radar and the steel stocks are kind of holding okay right here and in the den i i'm told steel reports tomorrow after the bell and the way it's acting especially with this monthly candle about to close with a doji type candle so that means after the bell which means whatever happens on friday it begins november's candle if we get this little doji candle from today because it's kind of hold steady while it's waiting for the report and there's a good report and then all of a sudden it pops up and it doesn't have to do anything much but it just needs to break it's 1185 the the high of three days ago was about 1252 i think it was 1256 if we can get into by monday with a november camp monthly i'm not going to even weekly or daily i'm doing about the monthly candle if we can start to push into the 1280 or 1310 area all of a sudden i've got something that's really unique in the annals of monthly charts you can go through hundreds and hundreds of monthly charts and you will see every once in a while the exact low after a pretty serious decline will be where you get the tiniest little plus sign and look it's a doji candle where it opens and closes at about the same price and it has just a little bit up and a little bit down looks like a plus sign and that becomes the turning point and i'll show you something that's very interesting i don't know if you can see my charts right now but if you can have a chance later on have a look at the monthly chart go to the january of 2016 low this is the monthly well november had the tiniest little doji candle and the low was six dollars and 80 cents then the next low of january of 2016 was 615 so it goes i mean that's a big percentage 680 to 615 so i'm going from 68 to 61 but look what happened that was what i called chapley silent doji and then you got this massive turn to the upside now i need to point out that it had come from 4655 the high in i think it was september yeah september of 2014 at 46.55 so i wanted to point out that every once in a while there's another one 70.95 was the high back in 2010 comes all the way down and then a pretty important low was made like two bars after the actual low of 1580 two bars eight it's got this tiny little doji and then it starts already that goes from 15.80 up to 46.55 then it comes down then it comes down to the to the doji low that i was talking about so if this particular it's not small enough but it's it's a it's sort of pretty small doji if this becomes a reversal candle and we can survive with a trade war etc and we can survive without taking out the the low of right here the low of a few days ago of what was that 9.93 i would then say this is the first time that you're looking at the chance that steel could have a nice recovery i can't say what the upside is because we haven't even got the turn yet but that so that's the kind of thing i suspect that you would like to be looking at because it could be a position that you put on now and it could it could become a core position if the earnings tomorrow it gaps up and then it just doesn't look back for a while so i'm going to suggest to you i don't know what your risk parameter is what would you do if you bought it $11.88 but this had i'm just saying the potential i'm not sure yet but we're done because i'm going to talk about the actual pattern that i'm looking at in the moment in the daily chart but if i said to you nibble here at 11.88 what would your stop be since it's just like a little starter tiny starter position what's your risk factor there what would you do i have a high risk factor let's just say that okay so if that's the case then i'm going to say look at $11.90 if it just completely misses i wouldn't be surprised that even if it gaps down to $11.20 oh it's just so bad that it goes under 11 you if that's a 10 percent risk i wouldn't be surprised at some point in the next few weeks you get another chance to just get out of that position um with a very small loss i because i it'll have to be so bad that i mean how long can you still come out with bad news is be doing that since the high that was made back at 40 40 you know in the 46 area back in what was that it was 47.64 in march of 2018 and not one quarter have they come out with anything with good news so there's a better chance now that the news is at least a media rated that it doesn't have to be you know as long as it's not awful i think it at least holds up so i'm going to say to you if you have that kind of risk as a core position potential start a position here at 11.88 11.90 i wouldn't even fuss over 15 or 20 cents right now because this is just a start it's like a feeler position a pilot like position that says hey by next week this time i'll have a much better feel if it's now gone up quite a bit i can start thinking of adding if it drops sharply i'll have to kind of get out of this position at some point but i am prepared to take a 10 10 percent risk on this position something like that now if you have a much less horrible uh you know if you if you're not amenable to uh to taking too much risk i would even say to you know what if you use options why don't you buy yourself a 12 option go out this is go out to january and just sit with it i'm sure you'll make money on that option um but your risk is really what we're talking about and if you're absolutely wrong you will take a little risk of maybe a dollar 10 maybe 90 90 90 cents so it'll be maybe uh 90 dollars oh it depends on how many positions you want to take but i'm just saying to you it depends on your risk but if because earnings are coming out i wouldn't be surprised if they they're not as bad as usual i mean they've really if they haven't been able to get their books right after all this time then they then it's really a sad case but i'm just saying risk reward looking at it and you know what if you want to hold on i wanted to show you something in the daily chart that i it's very fascinating it's called the chapter we restart do you have a moment yes sure okay then we're gonna have you hold on we've got mike and clear water florida holding on and we're looking at the daily chart of u.s. steel access to simple training 11 88 down 35 cents does up seven s it was out from the half what since 1984 basal Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion while originally hand drawing charts from the late 1970s into the 1980s basal noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later basal found that computer software which included the standard market technical indicators enhanced the degree of accuracy and calling price turns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators basal Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two week free trial to the opening call basal's daily trading newsletter by visiting the front page of tfnn.com cancel it anytime during that trial and pay absolutely nothing get your two week free trial to basal's newsletter the opening call today by visiting tfnn.com the path of least resistance is david white's daily trading newsletter and if you're looking for active trading ideas then now is a perfect time for a 30 day free trial to this powerful daily trading advisory service david uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter using a combination of equity trades along with options david keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted don't miss out on this great chance to get a 30 day free trial to david's daily newsletter the path of least resistance with no obligation to pay anything david has been delivering solid recommendations for his subscribers recently and if you'd like to see the type of newsletter he delivers every morning then visit the front page of tfnn and you'll find the path of least resistance under trading newsletters for all the details and to start your 30 day free trial today log on to tfnn.com now tfnn is excited about our new software charting program the art of timing the trade charts in collaboration with tom o'brien and using his bestselling 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 guardleafs abc's butterflies and much more the art of timing the trade charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks or even months searching to find and right now we're offering licenses available at only $79 a month we are so confident that you're going to love this new charting software that will even give you a 30 day unconditional money back 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 so we're on right now we've got mike and clear water faraday and we're looking at the steel stocks besides us x where us steel which is x is a symbol so ak s ak steel reports after the bell and they're actually looking a little bit technically better than steel and new core nue reported in september wasn't too great but it's actually a nicer chart pattern so the question here is will give us steel but look at that that's a much better chart pattern new core steel training 54 15 ak s is a very tiny stock i wouldn't be able to do that recommended over over the uh right now in the show because i need to do a little more work on that but now i'm going to show you something very interesting about steel the the daily chart has made a series of cup formations but it has made lower highs and lower lows but this is what i call a chapwave uh restart formation it actually made a full p e the rally that went into the high in august and then it plummeted down from about 15 in almost 16 area down to about 10 40 then it ran up and it actually made a p d and it started a chapwave inside trap repellent zone which is now sharply above and that's now kind of support in the 11 area but what's interesting is that the magnate is improved the stochastic is actually at 86 percent and if there is a good earnings report tomorrow that will flatten out and that'll be the first real sign to say that every one of these attempts at a buy signal to a buy mode has has succeeded out of the one two three four times since july you've got two full buy modes because they went to a d or higher and you've got two failures and yet you're still holding very nicely above let's say the 10 level even that went to 993 so this is the first opportunity i see where us steel has a chance to actually break to the upside and turn this whole area of uh 11 to 10 50 into some kind of support so that's what i wanted to say and and the reason why i mentioned it is that if the mag d which is good does the same thing as it's done before you could turn down here but the stochastic this would be the first time if it can last all the way at 86 percent if by monday it's still in the 85 or higher percentage area that's saying you know what on the shorter term some of the technicals have really improved so that's why i'm saying yep take it i if if you're leaning towards buying us steel and you've been wanting to buy it for a while and now you're thinking this is probably the opportunity i'd say start a position at 11 96 if the earnings come out and it shoots up i got a feeling from that it's going to be market conditions that would drag it down but the price itself will say hey thank god i'm free of the tens i'm trying to get into the 11s and then the 12s that'll be the first time it has a chance to do that and help the weekly chart which is just slowly improving so yeah i'm saying if you have a slightly higher tolerance for risk at this particular point i'd go for it and then if you've made a mistake i wouldn't just panic i'd say okay i'll get out of it there will be a bounce at some point even if it's not a bounce to your entry point but you just need patience as long as it's a smallish position that you're really comfortable with just don't do anything that makes you lose sleep thank you so good luck let me know how it goes i will thanks you'll be watching it closely thank you for calling mike appreciated thank you folks out of the dow is up 15 i wanted to go through a couple of things look the s and p i will not ignore the fact that you add all-time highs because once levels at highs have been broken there is no ceiling except for what i imagined which is written down but it's still an imagined thing because the chart doesn't know it the trend line resistances so the s and p has gone to a peak f there is a chance that this is a chapter of instant restart because the mac d is still good the stochastic actually is very good at 94 percent so if we start to see the high that was made or i didn't update and let me just tell you what the high was yesterday the high was 3047 87 let me just write that in here 3047 87 47.8 87 if perchance this off late this afternoon you're looking at the s and p and it just loves the news and you're breaking into the 3051 area it's not a big deal it's only 15 points higher than where we are right now it's up 15 points if it doesn't i will not consider that that's a g i have to say because it's the end of the month and you're still going to get end of the month buying tomorrow that there's a good chance that you've recycled and that you will go higher into into early next week and then we'll have to assess why because this trend line resistance in the weekly chart the rising trend line resistance has this week it has the high that was made yesterday or 3047 just in that 3047 3048 area that's the dash pink trend line rising trend line resistance and then the channel that i've drawn has much stronger resistance in that'll be next week and that'll be a 3070 and after that you're broken out and that says the monthly chart is so clearly in leg b that any major major turn down has tremendous support in the 29 14 to 28 64 area in the monthly chart which has been which has held the 14 period moving average every time we pull back since the big breakout in January to the upside so that's the upside now on the downside if later today and buy tomorrow's close the last day of october you're actually trading a 3017 or lower that's the 9 period moving average it says okay now be a little careful because we could be starting the rollover now what i mean by the rollover let me show you in the dow we've had this rectangle formation after the high was made and it lasted 10 days from the april one before the moving averages broke down 13 days in july before the moving averages broke down 14 sessions from the high that was made september the 16th sorry i'm sorry the september the 12th before it broke down there's one big difference and i have to say it's a big difference why because from the starting point here even though this is the ninth i believe it's the ninth of the 10th session since the high that was made back at 27 120 on the 15th of october we have now twice gone above that so the big question for me is hey wait a minute do i only start this right now the rectangle formation everything looked like it was a perfect match to go four times would be so crazy i haven't seen any any technique that has four times consistently giving you the exact perfect turnaround up or down or maybe it's happened i just want to call or fan three times yes four times that'll be absolutely unusual so that says to me keep in mind that the nine period moving average hasn't even come close to crossing that's the nine period hasn't the green nine period moving average hasn't even come close to crossing under the black 14 period moving average to do that you would have to probably see the dow at 26 850 or lower to even start to get the green line to begin moving lower and then you'd have to smash to the downside straight after that so all i can say is we've got our little ducks in order we've got them in place and let's see how it unfolds at 245 today and uh well now the dow is up 60 or more that's good it's down 40 or more says hey starting to roll over be careful i'll be right back dow is now up 11 s and p is unchanged you're going to be pretty unchanged as you go into the two o'clock announcement don't you if you're in the cd market and looking for a secure investment the tiger first mortgage program may work for you the security for these first mortgages are building lots in the tax opportunity zone in st petersburg florida the tax act of 2018 set up tax free zones across the country where you can build and hold for 10 years and pay no tax on the profits which makes these lots valuable the investment is anywhere from 30 000 to 75 000 the interest paid is seven percent yearly paid on a monthly basis according to bankrate.com the best rate for a four-year cd in the country as of february 20th is 3.1 percent a 50 000 investment at a normal four-year cd rate of 3.1 percent would give you income of 1550 per year or 6200 over the four-year period that same $50 000 investment in the tiger first mortgage program would give you 3500 per year or 14 000 over the four years what should you prefer 6200 or 14 000 of interest on your investment if you would like more information about the tiger first mortgage program you can call me at 877-518-9190 that's 877-518-9190 if you're a trader in the market looking for exposure to gold or gold mining equities then now is a perfect time to sign up for tom o'brien's gold report the summer is over gold is trading back above 1500 dollars and the 10-year treasury is hovering at around 1.5 percent tom o'brien has been writing his weekly gold report for almost 18 years there's no one that knows more about how the gold market trades and how gold mining equities react new subscribers get a 30-day money back guarantee so you have nothing to lose every monday morning tom publishes his weekly gold report with coverage of gold silver bonds the xAU hui gdx the dollar as well as more than 30 different mining equities as of september 3rd gold report subscribers have five active open positions with an average unrealized profit of almost 38 percent for each position to see for yourself the types of profitable trades that are recommended within the gold report sign up today by visiting tfnn.com 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 a share bull and bear etfs china a shares in either direction visit direction investments dot com 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 prospectus or summary prospectus please contact direction chairs at 8664767523 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 then hit watch tiger tv that's tfnn.com then hit watch tiger tv for the latest market information hi folks so i'd like to do this oh first of all question about mcdonald's um uh steve i'll get to it just in a moment i just wanted to mention because i'm i'm able to forget and i want to talk about today um so tomorrow tomorrow night or friday that might be that might be uh actually i'm not sure it's mic anymore it's almost sure that it's gonna hurt yeah it's gonna happen i think the impeachment process is going to go ahead well with clinton back in 1998 what we saw was the dow had come off a low of 73 79 and that was in september of 1998 you remember there was a big smash i don't know if that was what was it long something um what was it to the overseas fund there was there was a smash and that impacted the the dow the dow went from 9 4 12 in july to a low of september low of 7 3 9 that's a that's a pretty big move and then 18 20 percent and then what happened the clinton impeachment hearings in december yeah and then it rallied up to about 9390 so it made a higher high than that high that was made earlier on in july so it goes high but that whole month had had a high on a low of right here so this is december of 1998 higher 9390 and a low of 8610 so the impeachment hearings go underway right they had the first initial uh meetings and then find that the decision was made to go ahead well you got a very choppy we even went higher it even went up to 9759 in january and a low of 8994 is called 9000 and then in february 9025 was the low and 8611 was the high and then they were concluded and remember um it was voted not to impeach and the market then went from the low that was made in september of 1998 at 7379 let's go to the low that was made at about 8610 and as 8610 and from 8610 when the whole thing was going on you ran up to 11 000 749 3000 points and i would say it's uh what is that about a 42 percent gain something like that so you go all the way to a peak e to the january top and that was it now i've always i've always been fascinated by this the market in 2000 remember the election was in 2000 so the market in 2000 went from 11 749 down to the december uh 2000 low uh uh that's the january so the december 2000 it was 10 299 but you had already been down to 9656 remember 9656 that's kind of where you were when those impeachment hearings were underway so look what happened you ran up sharply and then you pulled back all year and then you went to the low that was made right here now on 2000 in october of 2002 at 7197 let's just type that in 7197 7197 and this is 10 202 yeah because i think the semiconductors made the low in in march of the s and p did there was a little mix up there one did one didn't now isn't that interesting so all the way through 2000 i don't remember hearing the press saying that they're going to hand over the next to the next president a catastrophe in the making with the dot com bubble because remember the nvx had an absolute smash hardly hardly ever did you hear them talking about it but when um the market's tanked during the bush era obama for six years or so kept talking about the bush catastrophe so i'm just fascinated with the way the things work it's just it's the way the media reports things you just gotta accept that's the way it is um so i'm kind of intrigued and you remember my my my my template here is thinking about 1920s and that you went through three republicans and then the second republican handed over to the third republican who was just handed an absolute time bomb with the crash of 1929 so this is going to be very interesting how this plays out because i have to tell you um i don't know if the plan should be to talk about impeachment just move on talk about what the next candidates will do as president that's the most important thing you know i'm not going to get into that because that's not that's that's i'm talking market now and that suddenly goes into politics i don't want to use this as a political agenda i'm not couldn't care about the agenda i'm just interested in what the market does now mcdonald's is trading up to 20 have he made a low so look at this 194 was the low of importance in the chapter we've automated support it went right through that but now it's trying to get back at 194 82 two cents higher four cents higher two cents higher um and that monthly weekly chart says uh oh 226 55 was a terrible resistance area in the weekly the daily was right there in the whole 220 223 area and the actual high was i think 221 something i'll check in a minute and the monthly chart doesn't have it's now open territory if we can go higher but now it's got a lot of support levels that we want resistance so now the question is and i'm not sure if you're looking to buy it right there was a question just disappeared let's do that again um oh i lost the question oh the ak steve mcdonald's please um so when i'm looking at this i'm saying this is a nice two two-day turnaround candle but that's all it is i think from the weekly chart and the monthly chart peak d and the monthly chart i wouldn't mess around with that peak e in the weekly chart at 221.93 trading right now i think yes as a bounce if you're looking at this as a trade this is another another situation regardless of what the fed does today i treat mcdonald's as an option play we're in we've just about to begin november i'd even do it as a november when's november closing so it's friday one two three on the 15th that's a little too soon i'd like to have a december yeah i'd go for december the 20th i'd buy an option i wouldn't look to buy a call oh you're looking too short of i didn't ask you what you're looking to do um or look as a trade i can see it as a trade of 195 200 is the 200 period exponential moving average and the 14 period moving average 197 is the nine i can see a balance i wouldn't be buying this i would only play it in an option where i know exactly what i can lose and there's a really good chance of a good percentage gain and also a chance to lose everything now why do i say that because the monthly chart has gone right through the nine period moving average and it's already gone through the 14 period moving average but it's now above that i suspect that it's going to be a process now and i'll draw it in there's a chance that mcdonald's has some kind of a rebound and it looks something like a dreaded h-path in the lowercase h-pattern with a chance that it could even go lower so be careful if you want to trade it that's fine but treat it only as a trade at 194 you want to buy it now even before the fed statements um i would still have a two no more than a two percent stop and i'd have only a trading position now this could be velo i think it's alo i'm not velo i'll be right back thousand twenty five years if you've done one in a quarter be right back does a chapter take admissions i'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trait that we tigers and tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets i'm steve rode's author of mastering probability and for the last 12 months timer digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the s and p 500 for the last 12 six and three months timer digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and i'll teach you the exact set of tools that i use that has transformed me into one of the best at what i do sign up for mastering probability today by clicking on the newsletter tab on the homepage of tfnn.com and get immediate access to workshops where i take you step by step how to use an extraordinary set of tools as well as provide great market calls to sign up today if you haven't checked out the newsletter's page of tfnn.com what are you waiting for all of the tfnn newsletters are informative up to date affordable and a must have for every trader looking to gain a competitive informational edge in today's markets tfnn newsletters cover every aspect of the markets to offer you the very latest in market news plus new subscribers get to test drive our newsletters risk-free for 30 days from all aspects of the markets including stocks bonds metals commodities and tech there's a newsletter to fit your needs exclusively from tfnn stay informed each day you trade and get the competitive edge that will help you stay ahead of the game visit our newsletters page by going to tfnn.com and click the newsletters button near the top of the page tfnn.com educating investors you know what's cool taking something that's good for you something specifically formulated to help with weight loss better sleep stress reduction and the need to detox niggar hunter and gatherer ancestors found all their nutritional requirements for health in their wild environment but today our food sources no longer contain the vitamins minerals and nutrients our bodies need to stay healthy and strong that's why we need primal edge daily nutrition it includes a special blend of ionic soil based vitamins minerals fatty and amino acids in an easy to use liquid form primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system they've been called miracle molecules because like sunlight air and water life cannot exist without them that's right page they ensure we receive all the nutrition we need to be healthy and thrive we take it every morning primal edge formulated and approved by nico and page of living a primal lifestyle buy it today for just eighty nine dollars click on the primal edge banner on the front page of tfnn.com hi folks this is steve roads stay tuned for another great hour of the trader's edge heard here at tfnn.com hi folks so i have a webinar coming it'll be up today on the front page of tfnn i have a webinar coming up in november later on november i shouldn't remember the exact date i think it was november yep november wednesday november the 20th and i'm really looking forward to it i've been asked many times now if i would go through some of the techniques that have really stood us in real good stead i will do that it's going to be a special one and of course i'll be talking about stocks that we're looking at for 2020 just as we've been doing all the time what sectors do i think are going to work etc and of course with the fed and tomorrows whatever news that comes out tomorrow we'll see what happens so that's that tesla the question here is basal i have a friend who has a tesla who bought tesla i have a friend who has a tesla he has a friend who bought tesla i told him to hold on he wanted to know what to do what should you know i'm just going to say hold on for now it's at a peak e it should be pulling back but if he's been holding all this time i don't think i changed that right now but let's us do this either tomorrow or friday we'll have technical friday and this could be one of those stocks we'll look at technically i'm also looking at crbp um that's the one that we spoke about yesterday trying to get a little more information on it it's pulling back today a little bit so that's it now let's us do this i'm going to go to the the quickly before we wrap up you're going to go to steve steve what is it Wednesday you're going to steve you're going to dave then you're going to tom and i'll be back tomorrow but let's just look at this the dowels are 23 holding really well after potential pd yesterday with a slightly chapter wave two bar reversal that doesn't work unless within a day or two you don't take out the high but you go down sharply you either fill a gap or you go underneath the key moving average that's why i say 29,960s that's going to be important the next two days to go under it if you don't this could be one of those situations where this particular time you've got so such a mixed market in the dowel even now as i'm talking to you you got uh you know you've got mcdonald's upper dollars 38 you've got um cms down a dollar 39 it's just a real mixed market at this exact moment so let's see what happens or like i say is dowel holding plus 60 or more after 245 i think that's very good action down minus 40 or more and i say okay timeout is probably right now just keep it simple don't get excited we've still got long positions that are doing well and we've got a short position and we'll see how that plays out have a wonderful day see you tomorrow good luck