 The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now Larry Pezzavento. Okay, looking good Billy Ray feeling good Lewis. We were talking about the gold market here today at TFNN and I wanted to update you. This is the four hour chart going back to November the 13th. And so we've got a lot of data coming in and you can see we're waiting for this ABCD to form, which will take out this low right here. But also folks, we have a larger ABCD and this is what ABCDs are all about. They work on any timeframe, but you've got to stick to the timeframe that you're working with. See, I think we're going to go down here and take out this low here at 19, well 1941. That's pretty close to the year of our lord when somebody hold on. Let's take a look at this. That's where we're going to take out this low is what it looks like. Here's where we are right now. And if we blow it up a little bit, you're going to see we're below the 78% retracement of that last move. Okay. That highly suggests that we are going to go lower. So that's what we're looking at on the gold market. Okay. So we've got not very far to go 60, 60 bucks. That's 70. Now we have $60 to get to that level, which you can see here we went 140 lower. So we could make that easily. Now just to be safe, let's look at it on the weekly so we can see where we are. You see on the weekly, it doesn't look that bad. There's where we are right there. And if you look at this on the weekly, here's that low way back here. Now what we think we're going to do that number we're going to get to is 1938. So we want to see if we can verify 1938 on the weekly chart. So there's your low. There's your high. There's there's 1949 to 1938. I think that's probably where we're going to go. There's your ABCD. Let's just draw that in now on the weekly. And that'll tell us that we're headed towards that way. Whoa. Time out Gertrude. We hit the wrong button on that one. Here we go. There's your AB leg right here. There's your CD. They coming in here. Where is it? There it is little. Oh, there's that number 1938. That's what we're headed for. So the 38 is the ABCD. 1949 is the Fibonacci number. So as we say in the trade, you know, the Fibonacci numbers, mathematics, proceeds, geometry for Mr. or Dr. Albert Einstein. All right. Now I wanted to go back and show you one other thing on this four hour chart. Someone asked a question about trend lines. First of all, let's get rid of some of the stuff that we're not using. Okay. Here's the trend line story. Okay. When you're doing a trend line, you have to go from, we'll just draw one right here. You go from your low to your next low right here. That's a trend line. Okay. Keep drawing that up like that. You see, and there's the, there's the trend line right there. Now you notice when it breaks this trend line, then it has a rally. Okay. But trend lines have some pretty good uses folks. Let me show you why. Look at this one right back here. When you, when you line it up with Fib numbers like the Fib number here and then there was a Fib number there. Let's just show you what it was from your low. Excuse me. Having a tiny bit of difficulty here. Hold on. This is from your high down to your low. You'll see that comes in exactly at the 61% retracement. So that's where the trend line is right there. And if you draw it through like that, boy, I've got to do it again. Bear with me folks. Just give me one second. What I'm trying to tell you is that when you have the trend line that lines up with the Fib numbers like this one does, that forms this big triangle that's here. And that's why this one up here was so important the other day that was back on the 12th. You know, we had a big breakdown that led to that small pattern that we were watching here last night. There it is right there. It's very small, but still a perfect ABCD as you can see. And now we're heading lower. So the final analysis here is the fact that we're looking at this. We think we're going to go between 1948 and 1939 here when we finally bought them in this area. Okay. Very, very, I think it's important to realize that. That's my two cents worth. So we'll see how it keeps going. Now let's get on to the Dow Jones industrial average. Let's get up here. You can see here on the Dow Jones, we have completed the ABCD here, you know, since the started way back in, right around Christmas. Okay. There's the 20th. There's your ABCD leg and folks, I suggested here at 47,387 that that's probably it. We're a little bit lower than we had the small rally, but this is what I think is a pretty good ABCD. Now ABCDs fail. So if we close below here, if we close, and if we do close below here, here's what you'll be looking at. All right. Let's get this out of the way because this is all going to be clear. There's your high. There's your low. This is the low. Now you rallied here. You rallied 200 points, 250 points in the Dow, which is substantial. But if we look at this, let's say that we take out this low. This is what you'll be watching. These were the prices will go. There's your ABCD leg. There's your CD leg. You see the CD leg was not quite 38%. It was 33%. So I missed it by a little bit, but if we get below that level, this is where the Dow's going, folks. 36,864. That's another 600 points lower to the downside. And that is certainly possible. Just to talk about this one second, we had a question for one of our listeners in Hong Kong, and I wanted to bring the Japanese in charter. Hong Kong stock market up. This is the weekly chart here. And we'll get this up here to see it. You can see we're making this huge three drive to a bottom pattern right here. Let's just clean that out so we can see it pretty easily. There's the three drive. There's drive one, drive two, drive three. We've already pointed that out to you. There's drive one, there's drive two, there's drive three. We're sitting right there at this number, one, two, five, three. You see how close we are to this number? That's indicative that we might be getting ready for a pattern. If we move this to the daily timeframe, you're going to see it a lot clearer. There it is. There's the ABCD we had on the upside here right at the first of the year. You can see that's a perfect ABCD right at the 50%. That measures to just a little below 15,000. So we know it's going to, we have a strong suspicion that it's going to go at least 20 points, 200 points lower just to make that target. Okay. And we have some big targets in here that have already been completed on the long-term daily. So we have this one right here. But this comes in at a much lower level. You'll see that. And we draw that in right here. There's that. This was this one right here that we had the rally down. So we're getting close here in the Hong Kong market. But let's just take one deep breath and look at this weekly one more time. Okay. We're going to move it over and see, well, there's where we are. Okay. Now this was the, this was the big ABCD. Then we had the rally. There's the D point of this swing right here. Let's just get up here so we can see it. There it is. Well, we've got to get even more in there. That goes back a long way. Okay. There's what you want to see. All right. This is going back over the last six years. All right. There's your ABCD. That completed here. This is all you got for a rally. Uh-oh. Look out, folks. You got trouble in River City. We're going to finish this up when we come back. Steve Rhodes started his trading career as a student almost 20 years ago, and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing at number two for the year, an amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn, and he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 days risk-free today. TFNN Educating Investors Are you ready to take your trading to the next level? 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Head over to TFNN.com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter, Market Insights firsthand. TFNN Educating Investors TFNN has just launched their new trading room, the Tiger's Den, 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 Tigresses for just $1 for the year. There's no cash or added costs when you join our community of traders. In the Tiger's Den, you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas, interact with other Tigers and Tigresses as they share trading ideas, news analysis, and discuss the market action all trading day, even at night and on the weekends. The Tiger's Den at Discord is accessible on mobile or tablets as well, so it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of TFNN.com. Toll Free at 1-877-927-6648 Internationally at 727-873-7618 Okay folks, I know I'm talking about the hanging saying that I had two requests from our friends in Hong Kong and I want to finish this up. This is the long term going over the last six weeks, six years, going back to about seven years, believe it or not. 2000, well, six years, 2018. We came, we made it 382 retracement here on the weekly. This is why it has a potential for some real serious move to the downside, folks, because if we break this, you'll be looking at this move right here. There's your ABCD and we'll move it down here. Remember, this is really tied. That takes you down to 6000. We get below this. It's going to be really hurting a lot of people here. It's where you want to be looking to probably be a buyer, but that's in the days to come. Let's look at some other markets. We're talking here about the S&P you see getting ready now to make a new low on the day. We're very, very close. There's where we are the other day. We came down. We rallied very slightly today. You see, we had a nice little move here on the ABCD structure right in here in the middle of the night here today. There's your move down here right here and then right up to this level right here. Now it's come down quite a bit. We rallied once up into this area and then it's still going lower. Here's an example of one of those trend lines because that tells you the direction of the trend line. You see, once you get above that 618, then that trend line would have been broken and that's pretty much it. The one that pays the dividends today, folks, is this one right here. This is the Dow Jones on the 4R chart. This should be a bottom. But like I mentioned, if it's not, if we close below 37,300, that's going to tell us that we are heading down much, much lower. So again, that's what the charts are telling us and we'll do one thing at a time. Now let's take a look at some of the positions that we were in and let's take a look here at the soybeans because we ended up today, believe it or not, after having a 22 cent profit in it, the market came down and went to our stock price right here. We'll look at this on the daily again one more time. There's where we were. We had a nice rally and look where we are right now, folks. It doesn't look good. So I'd rather be out of this and break even and look at it another day because we had a little bit of a rally. Not much. The highest we could get was about 25 cents off the bottom. This is telling us that something is not quite right. Okay. The other thing that's verifying it, if you remember in the soybean meal when we were putting this on, let's get the soybean meal up here so we can take a quick look at that also. There's the soybean meal and we're going to bring this up on the weekly to start off with and you'll see here that we are starting to break down again. You see that low that we had here starting to break down again. If we look at this on the daily, remember the day we've already no, we haven't quite done it yet. Here was the day we had a nice rally here. This was the old low right there and so far it's coming. It's just like what soybeans are doing. You see, you're pulling back just below the seven, eight, six level. We're almost at it. Hold on. This was just not acting strong, folks. So something's not right. So if you have one end out, stay out. So that's what we're doing in the beans now we broke out. Now we're going to cover one other one here and that is the hogs because they were doing very nicely today. And as a matter of fact, if you look at this hogs on the longer, this is a where we are. We sold them right up here. If you remember, the covering point was right there. There's your ABCD leg has been completed. In fact, there's two of them right there. There's the first one comes in. Let's just get it right here. Oh, darn, these things are so darn hard to draw. There's your AB leg right there. CD leg comes in right here at 70 53. The low was 70 even. And so that completed that pattern. Now what you want to do is this is where we are looking at this over the last three days. There's your completed pattern right here, ABCD. And now you're coming back. So you've got to look, look for that three, eight, two again. So if you go from your high down to your low, we went right up to it today. We made it three, eight, two. So if you wanted to sell your hogs and stay short, you can certainly do that because it's right at that three, eight, two. And we are in that shorter term downtrend. So that's what we're watching in the hog. So we've got the hogs covered, the soybeans covered. We've got the gold covered. Now let's get the old blanket out and we'll take a look here at one of our favorite berry stocks that are berries. Things that I have still remained that we are going to go much lower. This is the Treasury bond market. Just in the last few days, we've had one small ABCD here last night in the middle of the night, right to this level that that's all. Remember, this is an hourly chart. So it's a pretty substantial rally. We went from 027 to we rallied about $800. And that's all that was. Let's just measure it from the last time. It's not even close to a three, eight, two, but we'll get it in here anyway and put that over there so we can see it a little better. There's where we are. It only goes to 29% retracement. And then it's all it is is the ABCD folks just watch. Well, you're in a bear market. Just watch for these little ABCDs because they're pretty good. You know, they're pretty good on a long term too. But anyway, that's what we're, that's what we're looking at here today. Let me get this straight because I want to make sure that I cover everything before we have Jeff coming up. We cover the gold. Okay. Oh, the gold's making new lows right now, folks. We just made a new low at 1205. Remember the gold 1941, 1938. Those are the, that's the area in the gold that we want to pay attention to. All right. Now let's move over here and talk just a little bit here about the crude oil. It's been acting quite poorly today. Well, it's actually had a pretty good rally. We got down to this level right here. We went up. Here's, here's a 382 that didn't work. 382 is right there. It's still out. You'd still be in it, but you'd be out about 30 bucks if you sold it here with your stop above here. So I'm considering that as a loser. Let's just look and see what the pullback was on this smaller jack because it took a whole hour to make this and a whole hour, you know, it went down up to the 382. So if I had, if I get a chance about in this, but if I were in this, what I would do is try to scratch the trade here at 71 67. That's what I would be watching. Okay. So those are the ones that I'm paying attention to here and to make sure I don't miss anything. We've covered gold marching. Oh, we're going to cover the natural gas because that thing has been under a lot of pressure and I believe we're approaching a 382 in the natural gas. We'll move this over like this. Oh, we're not even close. No, that's far, far away. That's way up here going back here to just a few days ago. We made a lower low today. So the 382 comes in here at 250. We're at 247 right now that and you've got a couple of small ABCDs lined up in here too. If you look at it closely, there's a BCD right there and another. Let's draw these in Larry. Come on. ABCD right there. Okay. Then we got another one right behind that. Put it up here. Right up to there. Now we got one more maybe coming in and that would get you to the promised land, which would be right there at 250. So then you'd have everything lined up the way you like to see it. And that would be a very, very tradable pattern. Now this is only a 13 minute try. Folks, the difference between 13 minutes and 15 minutes is not very. Well, it's insignificant, but I use 13 and eight minutes because they're Fibonacci numbers and I like Leonardo the piece of the Fibonacci. That's the way I like it that we're going to take a break now. Stay tuned for Jeff huge of alpha insights. And I think we're going to have a good time today with Jeff because he's always got some really great stuff. And remember on. 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 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. 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If you're not satisfied let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com, educating investors. Don't forget you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit watch Tiger TV. That's TFNN.com and hit watch Tiger TV. Okay we're back folks and I believe we have Jeff Hughes of Alpha Insights in the house. Jeff are you there? I am here Larry, how are you? Oh, living the dream baby on the green side of the grass one more day. Hey listen, you've got a really cool chart here for the Bitcoin folks. They had this wonderful bullish news on the 10th of January and boy it's had a heck of a sell-off since that time and you want to tell the folks what you're looking at here? To your point, last Wednesday the SEC announced that they'd approved the first US listed spot price Bitcoin ETF and that actually was the go ahead for about 11 new ETFs that tracked the spot price of Bitcoin to begin trading on Thursday. A lot of people going into the event thought this would be some kind of a watershed event that will lead to mass adoption of Bitcoin by a major new cohort of investors because the view was that Bitcoin will now become kind of an asset within asset allocation models that major brokerage firms and advisors and institutions would then pile in. But history says otherwise Larry, and if we look at past exchange traded innovations in Bitcoin, we can see that they've all been met with aggressive selling by crypto speculators who historically have tended to buy into the hype and sell into the news of the event. Our opinion is that this launch of the new Bitcoin ETF is likewise marking a major top in the spot price of Bitcoin for the foreseeable future. Our Elliott wave count implies a very significant downside potential of upwards of 84% of the downside and one of the things that we've done here is we marked in the chart the launch of the first Bitcoin futures contract that actually marked the top of primary wave C and that was followed by 84% decline. And then we had Coinbase announced its IPO back in April of 2021. That marked the top of intermediate wave three of primary wave five and then we saw 55% decline. And then when the market that was making its all-time record high pro shares launched a Bitcoin futures ETF that was October of 2021 and that was followed by a 78% decline into the 2022 woes and since that time we've seen Bitcoin rally back quite nicely but Larry look at it it's an ABC pattern that's a corrective wave form and we think it just put in the top of primary wave B of what we think will be a larger degree corrective three wave form ABC and if we're right the setup calls for another 84% decline in the price of Bitcoin in order to retrace back to the lower boundary of that large degree parallel trend channel. So that's our view on Bitcoin. Well I'll tell you this has really been in a wild market boy stop and think it was $100 and it went to $69,000 that's just unbelievable isn't it. Yeah. Jeff just I hate to put you on this well I like putting you on the spot because you do pretty good with your spot remover. Hey listen. Do you know anything I mean people tell me Bitcoin the first thing that comes up is a cloud over my head with hail coming down because I don't understand any of the stuff I've never seen anything that is so complicated like this thing I mean it's just I don't understand they you know I really don't do you have a grasp of it or do you just look at the price chart like I do. Yeah I do and I'll tell you this I think and I've said this for a long time that that Bitcoin is the ultimate speculation it's the tool of bulb of the 21st century I mean aside from its scarcity value it has no legal utility it's primary uses for drug deals sex trafficking and tax evasion you know so there really isn't any you know utility for Bitcoin you're not going to order a pizza with it and I mean you could hypothetically but it's so impractical it's not likely to be anything that kind of becomes mainstream if you will. Okay next chart and you're saying this is look at the NASDAQ and the red line of course is the Bitcoin price and you can see here we did make a slightly higher high in the NASDAQ by just a hair didn't we? Yeah we did and you know I'll talk about that next but you know I think that the one thing that's interesting about this chart Larry is that you know both assets appear to be putting in double tops and you know the thing about Bitcoin is since at least 2019 it's maintained a very positive correlation with the NASDAQ 100 that correlation is currently about 76% which is pretty high and in our view this relationship really speaks volumes about the level of speculation in both Bitcoin and NASDAQ growth stocks both of these two asset classes are just heavily driven by bullish narratives about changing the current world order you know Bitcoin advocates think that Bitcoin could replace the US dollar as the global reserve currency I think that's unlikely to happen in the you know foreseeable future and NASDAQ growth stock advocates see it as a proxy you know the NASDAQ 100 is kind of a proxy for the virtues of artificial intelligence and you know I think that if the NASDAQ 100 is putting in a double top as we suspect then the collapse in the price of Bitcoin will likely coincide with the decline in the NASDAQ well it makes pretty good sense now we've got another chart coming up here just one second here this one is the oh this is the speculative long I've seen this chart before from you it's really look at things like a flagpole wow it is you know I guess more to the point about investor attitudes you can see that they're definitely out over the front of their skis a little bit here based on the CFTC data from about a week ago and that supports the conclusion that speculative net long positioning in NASDAQ 100 futures it's now at an all time record extreme and speculators rarely get it right at extremes when their conviction reaches you know extremes of this magnitude you know it usually marks an impending trend change and you know to be sure take a look at open interest in NASDAQ 100 futures it's already begun to reverse from record levels and that is consistent with a market that you know typically is poised to roll over so that's consistent with past market tops and I think at this level of speculation evident NASDAQ 100 is also a play in Bitcoin and we believe it is then you know we should expect Bitcoin to decline pretty furiously over the coming months right in line with the decline in NASDAQ futures okay we've got one more coming up this is about insider selling let me check the time frame here we've got a whole minute left so we can cover this chart without any trouble please go ahead Jeff sure so you know investors that appears to be a little less enthusiastic about what might the future hold are corporate insiders these are C-suite executives and directors of publicly traded companies who have material non-public information about the respective businesses they are now selling shares more aggressively than at any point the last 12 months over 400 million shares were sold last week versus around 3 million bought in the past week and so this this transaction ratio of insider sells to buyers is now at 145 to 1 that is an all-time record extreme just to put it in perspective readings that are above 20 are considered to be bearish those below 12 are considered to be bullish so we've got this chart we'll be right back with Jeff huge off the insides folks stay with us please we'll be right back 877 976648 you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman wave the Chapman wave up down sequence gives you an 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supercharge your trading game head over to tfnn.com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter market insights firsthand 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 L.A.B.U. or L.A.B.D. Directions daily S.M.P. biotech three times bull and bear 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 loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor for 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're talking with Jeff huge of alpha insights and showing us the implications of adjusted for inflation no new highs you want to tell the folks what you're looking at here Jeff sure Larry to your earlier point you mentioned that the Nasdaq made a marginal new high also sort of the Dow and the S&P 100 industrial indexes and we think these three indexes have one thing in common they're all mega cap concentrated indexes with significant exposure to the mag seven apple Microsoft Google Amazon and video Tesla and meta these are the seven stocks that make up about 29% of the S&P 500 but they also make up about 29% of the Dow about 50% of the S&P 100 index and currently about 45% of the Nasdaq but prior to the rebalance was over 60% in December and so what we decided to do is you know we've been pretty vexed by this the fact that these indexes have made new highs but the broad index has have not the NYSE composite the Nasdaq composite Russell two thousand the value line composite are far from even close to being making a new high and so what we thought would be interesting is what if we were to adjust these indexes for inflation so we did two exercises we we created a ratio of the Dow divided by both the CPI and the PPI and when we divided it by the CPI it was so far from making a new high it was ridiculous so we decided to go with the PPI because these are mostly industrial companies and make sense to adjust them or deflate them by their input cost so we use the PPI but even using the PPI you can see clearly that the Dow has broken its primary uptrend and is nowhere near making a new high the S&P 100 also broke its primary uptrend well short of making a new high and even the Nasdaq 100 on the far right has broken its primary uptrend and is still well short of making a new high so you know I think by simply looking at you know this from a different lens we can see that these indexes still have a lot of work to do okay now we've got an interesting one here with the Elliott Wave Count so please clear us up on this yeah you know our preferred presumes that the rally in the S&P 500 has traced out a double zigzag corrective waveform it's retraced 99% of primary wave 1 the decline that we saw off the January 22 high into the October 22 low but it's a very choppy overlapping corrective waveform we think it's countertrend the S&P has yet to make a new all time high and so we're counting it as wave 2 wave decline that will be an impulse decline and ultimately be the beginning of a three wave corrective waveform or wave A of an ABC now it's possible we're wrong right and so we got to look at all the possibilities if the S&P were to make a new high it's possible there's a bullish alternate count here and we've adjusted our account to show that the COVID crash lows would actually be intermediate wave 4 of primary wave 3 up and so we count the October 2022 low as intermediate primary wave 4 and so we're completing we're very very late in the completion of primary wave 5 up which would then end cycle wave 5 and super cycle wave 3 our preferred count assumes that we're well into the correction that would follow super cycle wave 3 but we all would suggest that we still have a little work to do so you know we use a Fibonacci relationship between what we would call then primary wave 5 and primary wave 1 and if primary wave 5 is 2.618 times primary wave 1 then it would top at about S&P 4940 but you know either way we think the market's putting in a classic pattern double top formation the bullish alternate suggests that maybe there's another couple hundred points to the upside the bearish preferred count suggests that you need to look out below either way we think the risk is to the downside here okay let's take a look at the next one is the broad market tells of boy this is really negative when you look at the Russell oh my goodness and the value line and this is what really informs our opinion about the bearish preferred count positive index equally weights the largest 1700 stocks in North America represents 90% of the revenue generated by all publicly traded companies in the US and the Russell 2000 is the most liquid small cap stocks in the US and despite even a dramatic rally off the October 27th lows both of those broad market measures remain well below their 50% retracement of their respective declines off the January highs of 2022 both also appear to have either completed or they're very nearly completing a flat corrective waveform that should mark the end of their primary wave the counter trend advances and that sets up the next big decline so we think you know the next directional move of any consequence should be hard down in the broad equity market and that will not be good for the S&P the Dow or the Nasdaq I've been bearish but after watching this I'm going to have to go to very bearish now what is this one the very fat pit this is a good one tell us what this is Jeff well you know I like to give my investors an idea you know those who subscribed to our newsletter and our research reports and you know even though we're bearish on the broad market there's always you know trading opportunities right and we think it's a very fat pitch setting up in a company a medical device company called intuitive surgical it's a robotics automation company they make surgical robots the symbols ISRG they actually report next Tuesday the 23rd and we're expecting good numbers from them this stock is now accelerating in terms of its relative strength it's outperforming both the S&P and the healthcare sector as well and this looks like a classic classic pattern base formation of the coupling handle formation we think if we can get a breakout above say 365 to 370 that should count a measured move up to at least 460 then possibly 560 just as a as a way to protect capital I think I probably set my stop loss at a minimum of around 330 maybe as low as 324 give you a little bit more breathing room if you're a real risk taker but I think you know once we get a sustained breakout here above say 370 this stock should be ready to run around 100 points to its next plateau if you will well okay that's pretty good I've got another chart coming up here I believe monthly newsletter tell us about that my friend yeah you know we write this monthly newsletter it comes out the first Saturday of each month so the next publication slated for February 3rd we just put out our 2024 investment outlook on January 6th so it's pretty fresh hot off the press if you will you can find it at hugeinsights.substack.com in the newsletter we cover everything from you know the economy to the markets you know we've got a whole area slated for ideas the first five pages are free you can sign up have it delivered to your inbox read the first five pages if you like what you read you might consider upgrading the page for about 1250 a month and then you can see our positioning and our recommendations in our market forecast and there's a lot more information there's a lot of value in the newsletter it certainly is my friend thanks for joining us we'll have you on again soon so keep your fingers crossed and keep living to dream my friend okay Jeff huge alpha insight you got it buddy stand up guy we'll be right back folks 877 9766 48 if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30 day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN.com TFNN educating investors everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the Fibonacci 24 7 newsletter at TFNN.com when you subscribe you'll get a weekly 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Tigresses for just $1 for the year there's no catch or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of TFNN.com 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 okay folks we're bringing up to date here the Dow Jones industrial average has now made new lows on the day from this level this is when the area we were looking at on the 4-hour chart that's telling us that we got a high probability that we could be heading lower and remember this was just a little bit of a 3-8-2 rally so we start closing below $37,300 we are headed towards at least $36,000 so keep that in mind that's down another $1,700 points so $1,100 points so pay a close attention now here's one on the watch list that we did a little earlier those of you that like to watch the shorter term were within just a heartbeat of the price level up here on this ABC this you can see the 3-drive to a top pattern and it's also sitting right at the 3-8-2 if you remember going back a long long way because of the new low there's a 3-8-2 right up here be equal this would be equal moves to you see from there to there and that one to that one boy these are very very interesting pattern here folks so I'm certainly going to be paying attention to that one $249 and then with a buy stop at $259 is what I'd be watching here in the natural gas so let's pay a close attention to it because it's just a pattern that's all it is boys and girls nothing more nothing less switching over here again to the soybeans you can see here we're still right near the lows of the day so we're getting ready to take out you'll see we're very very close to taking this out and remember the negative report the nice rally and then now we're backing off a little bit so there's really nothing you can do with this except wait because you had a break even trade I know some of some of you folks took some efforts up in here I suggested to put the order in a break even so you know you protect something and that's that's exactly what happened okay I think we've got to just about wind this up I think we're almost to the end of the day we've got 30 seconds and we've got less than that so live every day in an attitude of gratitude and may God bless