 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 Good morning everyone Basil Chapman this is the Thursday edition Monday Thursday the 27th of April got two days to go before we wrap up the month of April look at this monthly chart this is the Dow look at the weekly chart bumping into the Chapman Wave inside track repellent zone got pulled back this is now the monthly chart which goes back to the high of January 2020 did I say 21 it was 2022 let me just change that did I redo that and forget them okay 2022 and look we're using that high and then the other highs of say November December and then earlier this year and it hasn't broken out yet and it's sitting there and and the technicals actually start to improve enough to say it could do it and it failed to do it look at the monthly chart the histogram has improved quite a bit in the MACD the on balance volume is good the casings flat at 58% but it is flat and the ninth period moving average has been above the 14 for about four months now and yet there isn't enough power to the upside and that just says to me that there's a bifurcation going on there is a split market that is telling us a great deal about the internals of the market you've got the XLF I'm just going to jump around today jump around day because I will not be here tomorrow I'm out all day be back Monday and for subscribers to my opening call my video that I usually do on the weekend I'll do it sometimes Sunday and I won't be all that long because I shouldn't I don't know how long it'll be depends on what's needed but we usually go through everything that's important and in this particular instance what I'm looking at is look the XLF that's the financials without the financials really holding well moving in sync with the rising market I think that that just says this is such an individualized moment that certain stocks are doing fantastically and other stocks I mean first certain stocks like it look at this meta meta screams to the upside breaks out 384.33 was the high in September 21 it's it drops a little bit it drops to $88.09 in October of this past year and now what are we looking at we're looking at a spike today up 14% to $236 up $30 leg D this is a beautiful pattern I I thought I did it yesterday maybe I didn't I love this pattern where you've got but with earnings coming out I I wasn't prepared to do anything because you just never know but the chart said that in this little mini channel coming down see these little chapter we falling explanations where you got lower highs and much lower lows even though it's two or three bars and then it breaks to the upside look at that beautiful move there well we got almost the same thing right it took a little longer earnings come out whoops and now what it says at 239 yesterday trading in the 210 area is extremely important support if there is a really big sell-off at any point in May right you know suddenly may go away whatever the expression is but at this particular point the 9 period over the week over the 40 period moving average in the weekly chart the MACD so strong the stochastic flatter 97 on balance volume rising and the MACD in the monthly chart with April just about to conclude is crossing positive and that should stay that way no matter what happens you'd have to drop to about 170 to see that deflect lower so i think that that's this is showing you what a diverse market we've got caterpillar on the other hand this is the deep cyclicals crumbles and drops 4% down $9 to 207.20 and look at the weekly chart made this arch formation and now it's just it's turning around and it's making low lows and lower highs so that's what i wanted to say and think together with us you've got the smh's down 3 at 237.57 with the financials and the semiconductors week you have to be very specific about what you like why you like it and how you want to hold on to it whatever the position is that you have for instance we have a dividend stock we haven't had a dividend stock in a long time we've got a dividend stock it's coming off lows in its own pattern sequence but it's in an area that says is this really going to work but so far it's held okay not great but it's held okay and i would love for it to to find support continued support for about another week or two because if it can do that i think it has the potential to give capital gain plus really good dividends that's what you really want to be finding this kind of market so i'm being very selective so when i do my webinar on Wednesday it's coming Wednesday i'll be discussing certain stock certain sectors certain stocks within certain sectors even if the sectors week these might be the strongest stocks so for instance i'm not doing anything with us right now but yes p a n w this is puller ulta network for a long time considered one of the very best together with maybe crowd the very best in a sector and yet look at the difference crowd was at 298 back in november of 2021 slumps under 100 it comes back to what 125 right now made a peak d big arch formation in the daily and yet puller ulta all one of the very best makes almost it's within 10 percent maybe even less of its all-time high the all-time high was why not type that in that was at 2 13 63 let me just type that in right now to maybe 2 2 2 1 3 point 16 i think i said back in i think that was july and which is all august let me just check that out april that was april of 2022 makes a cup for drop sharply makes the dreaded age pattern that holds very nicely then rally sharply and then goes to 203 i mean 10 points 5 percent away is that it's even less and then the all-time high and now it's starting to drop sharply so within that context i'm saying is it better to buy hack which is the prime cyber security etf where you've got a basket of stops at times i've gone for subscribers we've gone to etfs because i found that it's the best way to do it because the individual stocks were too difficult now i'm saying i think it's time maybe in this particular sector to be looking at the best of the best and go for the stock itself doesn't matter what the price is go for the stock because that might be better than being dragged down that's number one number two is within the context just going back to the smh's look in the smh's you've got whoops i typed it into the den by mistake there we go um look here's the smh's uh we've got an arch formation the left side low at that trough d before it went all the way to that alternative count peak f went to um 232 spirals up to 263 i think it was yeah 263 57 and now it's training almost at the low of the depth 237.98 um in a leg d to the downside with the 234 level of the 200 period moving average so that's what i'm saying you've got to be yeah plus yeah and that's a good point it has no volume there's another one bug and bug is exactly the same chart formation i don't see what the volume's like there uh that's 238 and heck there's looking at it right now yeah it has more bug is probably has a more volume but either way if you get the right trend you've got it right so i'm saying this is great this is a very specific there should be a balance let's say just subscribe us today i'll be back in a moment if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try tomyo brian 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 are you looking for a way to consistently add winning trades to your portfolio tom o brian is here to help tom o brian has been successfully trading markets for over 30 years a frequent 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front page of tfnn.com toll free at 1-877-927-6648 internationally at 727-873-7618 welcome back basil chap and tiger finishes our and I had a couple of questions I want to get you now because we're going to be talking about the chart formations that form over and over that's the uh this is then you just pull this in yeah first of all we like to always pick the lowest load to start the wave count the idea is to get from a bicycle to a buy mode which says that you can get to the fourth highest peak peak a is the first b is the second season third d you can alphabetically sequentially all the way to e f and g but g there's never an h so g you have to decide does it does is there an instant restart is there another way of counting if you have an alternative count very often you get to a g I usually put g slash c because it sometimes turns around what's the stock that did it today oh oh this is it uh right I believe and this is it let me just see meta yeah meta let me just get this going here there it is yeah went to a g slash c I think I'm almost sure I mentioned it yesterday in one of the shows either the 10 am or the one o'clock show that this was uh um at a g slash c usually g slash c if the technicals are still strong and the nine was still over the 14 it should go to a d would you expect that the high of the 14th which was 222.11 would see today's have 241.44 well that's what it's done and that's really important because it's giving some as long as the market feels that there are certain areas that are working that's always a very good sign because it gives you a kind of a balance between the weak and the strong so I want you to go back to ARKK this is Kathy Wood it's her um ETF I'm not even sure does she own the company I'm not sure why she should still be there because as I recall I mean I remember with fragility I remember different I used to work with different fund managers there on the technical analysis I remember that when they started to fail um they would they didn't last long or they were transferred from the from a big like a growth growth an income fund or something to one of the very smaller ones that the ones that maybe fixed income or something and yet there she is from 125 down to the 34 area obviously even though what am I saying 34 33 was the low back in 2020 screams up to 125 and then comes back down and the low of December of 2020 is 29 2943 so I'm not sure I mean I'm not costing dispersions I'm just saying it's a question I think it's a legitimate question that investors in the fund should be saying wait even in this counter trend bounce from the 29 area to the 45 which is a fantastic gain just on an oversold basis it's given back half of it already so I'm watching closely because I would love to be able to say to subscribers hey as a kind of a a speculation in the ARKK innovation area the whole innovation area um let's just get one of these let's get a position in this this is an ETF and just hold it and see what happens but it's so dangerous it's still in the wrong area and that even today I was looking to see it's up 31 cents and 35.53 with the way some of the tech sector is moving it should be doing much better so I'm just saying I'm pointing it out I was asked about it it's got the art formation just like the SMHs except the SMHs are much higher but they've also got the art formation so in this case watch out for 34 if it if it closes under 33 in the next couple of days this is not good at all it needs very quickly by the second week of May needs to be trading in the 37 80 to 3850 area but let's get back to our story so I didn't finish because crude oil has pulled back very sharply and filled the gap and now it's lower at remember I said there was a turn to period moving average at $80 and that peak C had every ingredient that I would consider a D I said I anticipate that it would pull back well it's pulled back away from the turn to period moving average I was asked about SEO yesterday I don't know if I finished my my statement because I think it got distracted but SEO is the inversion this is the pro shares ultra short crude oil trading at 25 35 down 43 cents I just find that these are kind of tricky to get if you get them near the lows like we got the SMP short the day after the high that gives us a bit of a cushion getting in at any other point gives you that risk I'd love to get the turning point because once you're there it gives you that little bit of leeway because if it moves in your direction correctly then when it has a consolidation it shouldn't even get close to your your entry point if your entry point was almost at the exact turning point so in this particular instance yes it is a leg B but in the in the inverse shares it doesn't necessarily mean to say it should go to a C and a D all I can say is that if you're in it I'd stay in it but I would have a stop in some part of my position I'd have a stop of about a point lower than where it is I just because I think that's part of money management with these things but if it closes next week any day no it doesn't have to close if it spikes above 26 28 it's a 25 38 right now for if it goes to 26 28 did I say 26 yeah 26 28 it's getting closer to the 200 period moving average of 27 79 but it's got a long way to go so just use that as kind of a guide your best guess is to say leg C has begun where's it going and then go back to your crude oil and crude oil is now in a legs things a leg C to the B to the downside not the point the point is that this right here this low of the at 72 61 of the of the 30th of March if that's taken out that's going to be a big give back but actually if you remember I say that this this perpetual shaft pattern in the chambering methodology and I'll be talking about this in my webinar we talk about some of these techniques that you can practice them I've got lots of webinars based on these particular techniques but the propeller shaft says if you don't if you go from the top side and then rally and then create this rectangle long rectangle formation and then take out the low side and then get back into the rectangle unless you started to trade decisively above the preserve resistance and that would be in the 84s you've got to be trading that there's a weekly chart and you're going to be trading there you can come right back and just stay stuck in this rectangle formation that makes the whole area of 72 to 70 now very important support for Crudo and then when I wanted to go to the TLT I just wanted to mention briefly we're on the on the daily chart we're getting close to testing the low of the 19th which is at 103 48 so if there isn't move under the 103s then you're looking at the bigger rectangle of the weekly chart and what did I type here this is on the 13th of April I said Mike called and it was at 1 oh if I can read it from this distance 105 oh what one yeah let me make this bigger uh format 14 uh Mike at 10 and 10 50 a.m exactly well almost exactly the same time as this on the 13th of April the 13th of April was Thursday oh it's a week two weeks two weeks ago I said I think that the TLT is stuck it was at 106s I said I think it's just stuck in a range and it'll be stuck in a range for quite some time and now we two weeks later and we're 104.69 stuck in the range and I said here's the midpoint if it starts to close the size of the under the midpoint that would be at about 103.50 then it could start to work its way to the bottom then we make the yields push higher I think it's just stuck I don't think it's yields right now that we're looking at there are other things going on and I when I say other things going on let me just say the VIX index even with today's rally uh no with today's rally is down a dollar 41 a 17.45 it's just stuck in the teens I'll be back in a moment dials up 214 recipes of 35 we'll look at the many futures as soon as I read there the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market the us futures market and the shanghai gold exchange the gold report tom obrien publishes his weekly gold report every monday morning for subscribers consisting of coverage of the xAU hui gdx the dollar bonds the south african rand as well as 25 different mining equities with specific buy sell recommendations the gold report new subscribers get a 30 day money back guarantee so you have nothing to risk subscribe to tom obrien's gold report newsletter now at tfnn.com tfnn has just launched their new trading room the tiger zen hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours and now they are expanding their reach with the tiger's den available to all tigers and tigers is for just one dollar for the year there's no cash or adicosts when you join our community of 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channel with tiger tv live every market day from 8 30 a.m to 4 p.m eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com so let me just talk about this for a moment it's a ton that i'd written down that i want you to look at i'll get to that but from yesterday uh that was at 21 50 on the 26th so that's 9 50 about just the 10 uh was at 10 10 p.m um in the 10-minute chart the e-mini crossed positive and even with this crazy move between 41 uh 4105 and four about four 4090 at 8 30 p.m when the economic news whatever it was came out whoosh whoosh whoosh whoosh up and down the nine did not cross negative and even now as we're looking it's it's green so that just says that you could have held a long position all the way through if you had the courage to hold it through that 8 30 zinging and zagging but i'm just saying purely on a technical level this is a technique so i'm going to be discussing a couple of techniques in in great detail as we go through it and i'm going to be discussing it um when you uh when you are looking at the different charts that i'm considering that i've seen to subscribers over the um over the coming three to five weeks we're going to be looking at a number of stocks that are starting to form some kind of a base that should have a pretty decent move going into the summer and going into the fall and that's the way i want to look at it so within the context of the markets this is this was a p f in the 10 minutes in the chamois methodology for those of you use it then what happened because of that spike the fact that it took out the starting point right there of 40.92.75 at uh 4 10 that was made uh at 4 10 this morning earlier so i wasn't up at that time but that's what the chart says um it says to me and the 200 period moving average was resistance resistance resistance then it became support it says to me that this has to be a new start this is a new leg a and a b i could give it an alternate count if that's the case there should be higher highs going to maybe the 4 18 4 22 level i remember saying 41 18 the other day was a number to watch carefully so 41 18 to 41 22 is a possibility as long as this nine period moving average remains good and in this cup formation that's formed at this peak d in the one minute chart i can do the five and others i just thought it's better to stick with one thing i normally look at the the uh the cup and i say okay that means that there should be if there's going to be an arch formation i choose a particular candle and i say from that candle either the plumb line low or some other candle there should be a move back to that level and i draw it in like this right here and i would say that by using this technique by 10th 1038 today the high of 41 4 41 15 41 15 should be hit excuse me so that's the kind of thing i do now i had a question i had a question yesterday we had a caller Larry from Wyoming was looking at United UNG and i said you know what i'll look at UNG but there are certain patterns that we want to see so in other words the vixx i just what i forgot about the vixx i went back to my daily weekly monthly chart and it shows the vixx and the vixx is down and that just says there's buying pressure but it is a sustained move in the 20s on any particular day with a down down triple digit there should be down probably 55 or more that says hey you're going to stay that way through the close if that vixx index holds in the 20 to 21 area level and that's what i'd be looking for in the next couple of days if there's going to be another downturn i'll talk about that when we get back but i wanted to say a UNG so the candle that i'm looking at now read down to a sensor 6.74 and what S&P says natural gas store is 79 billion versus 75 billion S&P 75 billion i actually i've never quite understood how the market really responds to these numbers because sometimes you think oh it should be down and it goes up and you think it should be up and down so all i can say is how the market responds is most important so now i also want you to say so Larry if you're listening so the UNG is pull back i know that you have done a lot of work to say that you're in the area that says this is where it should move up and i'd say there's something wrong with the con with with natural gas both the contracts as well as the reality of what's happening and deliveries and all sorts of things that apply could be shipping could be a whole bunch of things i don't know all i know is that the rallies that have been this this was a big rally percentage wise 714 to the 10 area i mean that's almost 30 percent that's a that's a great move but what's really important is that the give backs have been so vicious and even this rally just cannot get legs so i i would look at this and i'd say i would only be comfortable using it as a trade if i start to see a trade the pink nine-period moving average in the week is at 752 not good enough i'd have to get into the eighth i'd even say 855 is the 40 if we haven't had a move that even let alone closed above it but just touched the 14 period moving average since back in november of last year when it was in the 24th and here it is in the sixes so i'm just going to say to you this is a i don't know if it would be to my advantage to be looking at this as as even though it's low price the united states natural gas fund as a way of garnering income or any kind of income because i think anyone who's been trading this i i wouldn't i'd like you to raise your hands out there how many have you have not once but made a sustained series of profits in your ung trade if you have that's that's what you got to do if you if you've been if you've been wise enough to do it in such a way that you've gone at profits from a declining market that's fabulous and you're doing that your techniques right but if you keep losing money you're gonna it's not worth it there are other things that you could trade so i'm just saying if you've done your homework and you know what you're doing uh see so mike says basil look at the natural gas contract ng it's up i'm a little slow on this i guess now it's down only 0.01 at 2.293 but this is the arch formation that successfully holds way above the left side hinds a technique that i will probably talk about in my webinar coming up these are the different techniques different applying to different stocks needs to see the stochastic running up into close to the 80 percent level at that point i'll say to you yes now i'm saying to you as a trade only as a trade i would i would treat it if this is what you focused on i would treat it as something that you can buy but as it stands right now i i just don't see it i need to see higher highs and higher lows not lower highs and lower lows so that's why i would look at i'd even say i'd rather wait for the trend to be for it to become a trend rather than to wait for it to change one direction to the other that's all i'm saying so i want you to cover it i said i'd cover it again today i want you to see what happened uh at during this hour and and maybe i'll come again at one o'clock i'll do the game and look at it but but it needs to move and if it needs to move you can't be pink in the nine-period moving average it's got to go green and holding there and the stochastic cannot be at 61 it has to be at 80 percent or higher i'll be back this is have a look as we go to the break did we get to that f side right side price yep there it is there's a 4114.75 that's the cup formation i'll be showing that look that was live i'll show it again as well the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market the us futures market and the shanghai gold exchange the gold report tom o'brien publishes his weekly gold report every monday morning for subscribers consisting of coverage of the xAU hui gdx the dollar bonds the south african rand as well as 25 different mining equities with specific buy sell recommendations the gold report new subscribers get a 30 day money back guarantee so you have nothing to risk subscribe to tom o'brien's gold report newsletter now at tfnn.com are you looking for a way to consistently add winning trades to your portfolio tom o'brien is here to help tom o'brien has been successfully trading markets for over 30 years a frequent contributor to td ameritrade network and cnbc tom o'brien founded tfnn over 20 years ago to help educate investors just like you tom's daily market newsletter market insights is published every morning when the market's open to give you the competitive informational edge you need to succeed these newsletters are packed full of tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio get tom o'brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at tfnn.com tfnn educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade labu or labd directions daily s and p biotech three times bull and bear etfs visit direction investments dot com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-476-7523 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 this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz we have someone in the den hv says um haven't traded usd but have traded natural gas uh traded eqt which is the eqt for natural gas and hydrocarbon chart uh for four or five trades usually day or two three days and all to the good so far hey that's great i found that the eqt is just so much easier to see maybe that's because it trades in the 30 in the 30s and the other ones down in the sixes and i can just see the lines better this has made a peak abc and then it made an arch formation you might talk about that all the time this is the dreaded h it took it out but within three days two days actually closed back above the left side low and now it's gone to another peak abc d below the previous high which always says just be a little careful here because you want to be see must take out the previous high and yet it had a good pop-up just a little while ago today from the opening from the doji closed yesterday it's just a little bit easier to see but let me just tell you something you see the way the tune i like to put the 200 period moving in you don't have to use it but look how important was it was support back in october november of 2021 2020 and ready to peak c-minus made the arch formation did a one-to-one to the downside from the 200 period moving average and that was it goodbye the 200 period moving average from back in december of last year but was that in the 37 area 36 37 and now it's trying sitting closer and closer so i'm saying i'm looking at this particular chart and it seems to me i can read a little bit better because if we can get to 35 30 then that 34 93 turns your period moving average just becomes a magnet it'll just grab it but as long as it keeps pulling away you got to be a little bit careful and the magdae is holding okay it's not good as the castex bird 29 percent on balance volumes week so it's got a lot of things against it needs price price has to now dictate the technicals in the eqt so i did i didn't want to just follow through with that um another question i had oh so bb i don't know if i got time now i'll just put it in and see where it's going bb bb ai maybe i'll do it again yeah it's it's it's after that peak d cup formation right to the target on the left side or from the on the 17th the way it was pulled back now the 200 period moving average is is like a magnet so what i want you to say is um i didn't matter look murk i had someone the other day saying i um getting uh sorry to get out of murk and i said this is about two weeks ago i said no no it's looking good well murk ran up to 100 about 116 now it's had two days of red candles now i'd say to you if you want to be lightening up yes lighten up a little bit don't lighten up too much this is a fantastic stuff making all our stocks that make new all-time highs tends to keep doing that until there's a major trend change okay you already saw some good um so yeah that's right but don't don't think that this is a short anything like that not yet everything about it says stocks that make new highs tend to want to come back to that periodically in fact time and time again lily elai lily question now that was skyrocketing to peak f all-time high today at 398.53 it gapped up to it and the mac d everything about it is has confirmed the move yesterday to the e this this move to f is saying whoops be a little careful fantastic to all-time highs but just short term it's getting a little bit overboard i would not be surprised if in two weeks time we're seeing it at 386 that is testing the 370 to 360 area just in the digestive phase because everything everything else the stochastic is now back down under 80 but and the mac these almost reach across negative but in the 90s the way over the 14 another question came in let me get oh wheat look that's wheat yes w look at this wheat is plummeted down to a leg e at 630 one and a half but we at which is the wheat tichrium wheat fund made a doji candle off the gapping down at 635 this is going to be key because the on balance forms oversold i use on balance volume for oversold overboard that i don't use the others because they might get into that area where they can stay there for a long time with the stochastics at 88.23 percent i'd be real careful the way that the the soft commodities like wheat corn etc i'm just i'd say be careful if you want to be buying it i'd rather wait for higher highs and higher lows i don't like this even though it's a doji candle next question came in oh e n p h now look at this it's so tough when you get earnings coming out this is the exact opposite of of matter or yesterday was microsoft look we were looking at n phase the other day it went to a peak c and it was above the nine period moving areas above the 14 period moving average the mac d was good stochastic was over 80 percent and no position but i was looking at it and i had a question there was a question about what what would you do and i said no i i would wait for a little bit of a pullback and that pullback was around the about to the 223 to 221 area but i would have a very tight two-point stop or so then friday it had a very sharp dip which would have taken you out of any position that you had it hit the 14 period closed sharply above the the nine period moving average and then comes is that friday what is that it was a 25th was yesterday yeah yesterday was no today's the 27th 25th was tuesday and look at this tuesday it goes a little it can't get to the 200 period moving average and it stalls well did i know that i should know that i wish i had known that that there was an earnings report coming up because with anything in the energy area um you never know with the earnings reports well look what happened look at this you see that gap you see that gap you see that you see the price the high of the day one day is trading at uh with a low of 220.27 and the next day the high is 183.183.37 here's go all it goes all the way down to 160 and i said 164.82 it's inside it hasn't taken out the low that's a good side it says that if there's any rally at all in natural gas or whatever it is in the energy i think is more energy area the if it can get to the one without taking out the low of 160.61 if it's able to get to 175 to 177 by tuesday of next week without stalling there could be such an oversold condition now that it actually tries over the next week instead of making a low low just to at least attempt to get above the 183.31 high of yesterday but this is how do you know you just know that you've got to be real careful you've got to have a stop in place and that's what happens with earnings reports and look at the earnings report of microsoft the exact opposite it spirals from a lousy chart going into thursday going towards today thursday going to tuesday's low of 275.37 whoosh earnings report comes and the and it just flipped negative in the stick at the nine under the 14 mac D was lousy stochastic was terrible bam it has a fantastic uh candle yesterday and today's not only gone above that it is much high it's up seven at 302.54 and left side rise at price time matching the cup formation uh it broke out above it here's this trend line this channel inside wedge target resistance line it's even gone above that today on a weekly basis so i'm going to say that earnings reports can really out of the blue just everything comes right or everything comes wrong you just never know and that's why 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get a full refund within 30 days of signing up subscribe to the fibonacci 24 seven newsletter today tfnn.com educating investors this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com let's do this quickly so we did get that cup formation just as I drew in with the left side right side fry side by match and then a couple of tiny bars and a squeaky and then fall back what I normally would do is I you might just have straight lines but I have a rectangle so I just grabbed that you can do it with two straight lines I grabbed that and I say that's the parameter for now close under 4107 says uh oh it's going to be going down quite a bit lower now look at the this is a one-minute chart of the email look at this so this is going peak ap bpc the technicals are still very strong but I like to be ahead of the game so when in the futures when I get two parallel highs and the on balance volume or the stochastic or regular strength give a little hiccup I say I'm going to use that as a chamois phantom peak like and then I put that in red to say hey this is this is a subsidiary of your technique it's not your core technique but it's the alternate count excuse me because you want to be ahead of the game so that now I go to a D and I'm already I if I if I have any positions take some off I say okay I'm ready this if it turns into a C it'll still come back to a D but I like to be ahead of the game and I'm saying all right this is the 10-minute chart now we've had 1020 in the morning was up until 1020 has been the first part of the the day now we've got the next part of the next part of the the trading session we'll see what happens I think this is still a mixed mark and the reason why we are short the spy from let me just show you for subscribing to my opening call from the day after the high of 450.72 managing a real good price and we in the three times short we did just take a tiny tad off this morning this part of money management because this looks to me as if there's going to be lower highs and lower low I'm talking about every single strength that you just saw and cross is negative careful out the pretty selective that's what you should subscribe don't forget my web not coming up on Wednesday this coming Wednesday check the front page of tfnet take huge of God program coming up I believe to be Steve Rhodes yep