 The following is a presentation of TFNN. The Tiger Technician Hour with your host, Hazel Chapman. Call now. Call free at 1-877-927-6648. What happened on this Friday, September the 17th. I had a lot of questions come in. I was away yesterday. I had a lot of questions come in. I was trying to deal with him one at a time. I first run, I'm just going to run the indexes. Downdown, 123. Cannot get above the nine-period exponential moving average and hold. It's attempted to get there four, five times out of the last 10 sessions. Just can't hold. Down again, 125, 34,626. You can see this pattern that I call the dreaded H. Today's technical Friday. So we're going to do some of the technicals here. What is the dreaded H? It's just a real simple thing. I have three patterns that I look at all the time. Straight line up or down. Cup formation, arch formation, or a combination of one and two or one and three. Straight line down, arch formation. We call that the dreaded H because if it takes out that left side low, there's a problem. Well, we saw the dreaded H right there. Took out the left side low of 34,690. I went to 34,510. And even now we're at 34,633 below that left side low. This is an issue. It's going to be a problem. And I thought that the unbalanced volume was getting oversold. This is the only one that I really look at is oversold and overbought. And it hasn't reflected any strength at all. I thought there was a little bit of residual strength to just allow for a balance. It hasn't happened. It did happen yesterday. It hasn't happened today. So within that context, what I say to subscribers on Wednesday that I was expecting, that maybe we have kind of a doji candle, a narrow closed doji candle on Thursday and then come down on Friday. Or we just come down immediately. Well, we came down immediately and we're following that through to the downside. This is impacting. This is Friday. So this is going to be the second. If we close anywhere around here, let's see below the week, the 14 period exponential moving average. Let's see right here of 34,794. We're 140 points below that. This will be the second week that we've closed under it. We've been under it before ever since that breakout to the upside back in October. That was on October the week of the 6th of November. We haven't gone underneath the 14 period moving average for more than a day or two. And most of the time we close immediately above it. And the one time that we did look, it looked very ugly on 33,271 the week of the 18th of June. Wow. But next week we retested successfully and kaboom. It went straight up and has been up ever since. Now all of a sudden this is the second week. And this will be the first time that if there is a close below that 34,700 area, this is the second time that we've got a weekly close. And that's a sign to say I have to now really consider that the weekly chart is about to give its first cell signal. I'm not saying that yet. We've got to wait for the end of the day. The day is young. So we've got a G star, C in the Chapman wave notation. We've got a peak D potential if there is no high, new all-time high above 35,631 in the month of September. This is going to be an important month. Let me tell you. And let me go to the S&P. Why is it an important month? Because look at the S&P. Let's go backwards. Let's look. Oh, I'll come back to it. This is still A, B. In a monthly chart in the Chapman wave methodology, what we're always looking for from an identifiable low, you want to count at least four higher peaks. I alphabetize them. Peak A, next one's peak B. Higher high is a peak C. It's not a higher high close. It's just a higher high. Leg D, and it can even go E, F, and G to seven higher peaks. But it's at that fourth highest peak that other things can happen. That's where you have to do an analysis. And here we are only in leg B. There's no other way to count the monthly chart, and that's still a big positive for 2021 into 2022. And then we've got to be really careful. All right. This is a peak D in the weekly chart. This is the second week underneath the all-time high, 45, 45.85, made with the two doji candles at that peak G. This is a right arm extension in one of the techniques that I've discussed over the years. It's not like a rogue wave. Rogue wave is a single. You get a peak which is a D, E, or F, and then you start to pull back and the technical start to fail. And if you're short, you're absolutely correct technically in being short, where all of a sudden there's a news event just something happens. Oh, I had this already earlier in the week. A rogue wave, perfect rogue wave key. I'll show you exactly what I'm talking about. KEY, did I lose all that? Oh, I did all the work. And then I had to shut down suddenly. Oh, I got to remember every single minute of the day I got to click the save as long as I can click save. It doesn't matter if I save overnight because what happens is when I come back again, if I'm knocked off and in fact, I got knocked off a little earlier, Comcast was down and was right in the middle of a trade. Oh, my God. Thank goodness everything came back just in time. So A, B, uppercase. A, uppercase on the way up, lowercase on the way down notation. C, D. So here you are. You come to the D. You try to retest, you fail, make a V-shaped pattern. And then all of a sudden, you see how the technicals are fading right here. This is KEY is key core. I think it's the energy sector. And then what happens is you can't get a down arrow because the MACD didn't close. It didn't cross negative. So I usually put a plus sign. I will start off probably with a down arrow and then I'll have to change and say, no, no, no. That's a plus sign. Be ready for the next peak to maybe make a top. Well, what happened is in KEY, which is trading on the 13th of August at 20, 20.99, it pulls back all the way to 19.47. So it's a 10% correction. And then it rallies back when it only goes to 20.98, a penny lower. That's the V-shaped failure. But if you look at the technicals, the technicals are saying that there was some strength, but real weakness in the stochastic, and that says you should go down even further. Well, if you thought, okay, this is the time to short, you would have been absolutely correct except for that one news event that did what? It had a sudden spike. You remember my expression for a rogue wave? Is that you're at the beach as the sign says, high tide at noon. So 12 or five, you think, okay, tide's going down. I'm going to put either my deck chair or whatever it is. I'm walking towards the edge of the rock. I'm going to sit and relax 21-1, 21-11. I'm going to relax. And you say you'd put your dark glasses on. It's a suntan lotion on. Everything's just cool. When all of a sudden, out of the blue, it's like a splash. There's this one wave that didn't see the sign that the beach has said high tide at noon and at 1206, boom, everything's wet. But you look around, you wipe your glasses, and say, what's going on? Tide's going down. That's exactly, that's your rogue wave right there. So I thought I had this all notated and everything. I'll do it again. You see, it didn't take me long. Rogue wave. In fact, what we call it is a Chapman wave rogue wave. Why? As far as I know, I'm the only one that's ever discussed this. I've been discussing it here for 20 years at least. So what happens is, look, the MACD then continued down, sarcastic, failed. Didn't even get above 80% on that rally to the fractional V-shape high. Then it pulls back and you would have been correct in being sure what happens in this particular instance is that you are correct. But because you've used up the energy, a rogue wave often has a very sharp pullback it doesn't mean that it has to continue down. It just says, you're probably going back to where you were. This is what happens. It goes just above the previous high long enough for the short. So I better cover and the people would go out saying, why didn't I get out? It's fantastic. And that same bar crashed. In fact, I'm going to get that stuff. 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 markets open to give you the competitive informational edge you need to succeed. 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Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 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 the moment the market opens until the closing bell sounds Tiger TV has 8 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. So exactly what does Keycore do? So I looked it up and what does it do? It's in the financial services, the bank. It serves right here. Keycore is a bank holding company. The company is a bank-based financial services company which operates through subsidiary Keybank National. There are certain periods of time during market moves that I really like holding companies. So this is doing very nicely. Ever since it made that high in the 21 area it dropped sharply into the low 19s and now it's trading at 20.90. So it's just a very quick peak A then a peak B in the weekly chart, a leg C. Holding quite nicely. Would I buy it now? At this particular point we are just really sparse on our long positions and we do have short positions which are working at well. We had one that was just fabulous and then yesterday our low, our stop was in fact the low of the day. I tried to get it on a pullback today. The choice of subscribers was to split it up and say let's just get it right here in the morning. It's below where we originally entered and then we can add to it on a low. And then I thought, no surely with one of the stocks in the sector being so strong there's just enough energy to maybe move higher. Well, I think now we've missed it. Now it's up already 4%. Okay, if it's going to move we can get in this is still early in the game. Our question, I had NCLH. Let me just do this NCLH. A couple of things I do want to get to. So NCLH, yeah, it's a good day today. But NCLH, which is the Norwegian cruise line, is it? Yes, Norwegian cruise line. Gosh, I had this and I've had all those airline, cruises, cruise ship companies notated over the years. But as I say, when I do have a quick shutdown I sometimes I'm not able to I think this is in a range at this particular point I'm afraid to get into range bound stocks I'd rather have higher highs and higher lows because you have to wait now because you've got the resist 26.78 25.78 up 72 cents. Nice move today. Yes, it's in this kind of sector counter sector that says maybe the worst is over, maybe the best is still to come. I just be real careful if you're in it from lower down just put it in a stop that makes you comfortable. You've got to get to 26. 25, that's 26, 26.41 which is the 200 period moving average that whole area has just been I'll put this in as a straight line look. In fact, no, I won't put it in as a rectangle. And you can see that this whole area's resistance we're a source of training the 27s. That's going to be good. I think for the market and for crew and Norwegian cruise lines. Yeah, so it's interesting. I saw something out there. There's so many fascinating things that are happening in Norway. One is first certainly the dent. Is that the art gallery? The art gallery is beautiful building with a very sloppy kind of a promenade that people can just rest and relax in the sun, the limited sun that they get. But some of the architecture and certainly some of the natural sites are just incredible. I was looking at a waterfall the other day. Just fascinating anyway. So there's Norwegian cruise lines. Yes, if you're in it, that's fine. When I get in right now for 80 cents and then resistance, I don't think I would like that risk right now. I think it's just trading in a band towards the 2026 level then 24 support. So all I'm looking at is something that's really tossing around within the waves of a choppy sideways movement to use the H2O vernacular. Fang, let's see. F-A-N-G. I don't know if you mean Fang the stock. Oh, look at that big move up. This is Diamondback Energy Inc. A-B-C-D-E. Is this an F-DOG-F? I think I'm going to call this for now a DOG-F. And all I'm going to say is really a wonderful, wonderful countertrend move to the larger theme, which is in the weekly, in the monthly, saying it's just that a decimation to the downside going from the 100, about 103 area down to 65. I mean just almost cut in half. But this is a nice comeback and it's in an area that I'm going to be following much more closely over the, I followed it kind of okay, but we haven't got any positions for subscribers. So this is an area, if you're in it, yes, 83.27 up 3.16 today to 83.23. This is in that oil sector, the oil service sector. Did I type that in? I typed it on the chart. So let's just do this. OH, there it is. OH, it's a better, actually it's a better chart pattern than the OH oil service ETF. Let's look at the XOP, which is kind of a mix between oil and natural gas. Natural gas is just had a huge move up. And at a peak, I think they're all getting to some kind of resistance here. Let's look at crude oil. Oh, I haven't finished all the charts, right? Cruel or peak, they all look the same. Although this rally is way more than a 60% from the low, from the high of 76s down to the low of 61s. 17 points, 17 points. So that's about, it's about 23% or something. And now it's had a really nice move to the up. So yeah, this is an area that I think over the period of the next few weeks is going to be choppy, but probably choppy higher lows and higher highs. That's kind of where I'm looking at it now. But that's just my thinking. I'm going to have to do a lot more work over the weekend. So yeah, FANG, F-A-N-G, Diamond Bank. Yep, that's, it's acting very well right now. A couple of things I need to do as well. I don't even remember where it was. Let's go to the QQQ, QQQ. Down again today, down three. We remain short the QQQ. What we're looking at here is 382.78 on the 7th of July was the high. A few days later, we went short. And now what we're looking at is, well, we went short via the three times long, a small position there and three times long. That is three times short. You buy it long because you are three times short. This is the SPX. No, the QSQQQ. And what we're looking at here is 375. What I see in the next few days, if we're looking at this, a 372 or lower, a close below 372, that's really, that's suggesting that the daily chart is going to impact the weekly. I think the tide has turned. I've been speaking about this for a while. I believe the tide has turned in all the indices. We waited for the SMHs to make a high, which it did at peak D. And then there was that sudden move up yesterday. And now it's down four at a peak here, 276.69. I mean, yep, that was a high yesterday. And look at this leg. I'm going to call this a leg F for now in the weekly chart. Nothing else. I don't need to do anything about it. And leg E slash B monthly chart. We'll see what happens here. But I can just tell you the SMHs, when they start to trend and if they start to trade under 265, that's going to suggest, watch out. This is going to be a deeper and longer consolidation than people are thinking right now. We are so used to just the consolidations where the buy the dips mentality wins over. My assessment is we've got a little bit of a different scenario at this particular point. IWM, the Russell 2000, still very weak. But holding in this pattern a little bit like the Dow, holding not too bad, 221.50, way off the 229.89 high that was made on the second of September. The all-time high is at 234.53. So this is really way off that. What we're looking at is IWM is holding a little bit better. But if you look at the weekly chart, it's still stuck in the range. Just as we go to the breakout, go to Gold as it's approved yet. Now it's versus down 6 at 17.50. It is the one-to-one to the downside. Remember this falling exformation, whichever way we can discuss it before mixing it to the ex. Are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with? 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We're going to see it. We had a peak C1 C2 in the one-minute chart up there at the highs of the 40 what was it? 44 was before that 44 whatever that was right there at least from 928 that was the high 44.63 73. We did have a high 44.7250 way earlier. So, this is tough. I mean the sellers are there. So, Victor Imparamus, hi, how are you? Oops You're there? I hear you. I hear you Victor. Victor, Victor, Victor. Alright, well Victor, give me a yell when you realize that you're on because you want to look at ABCL ABCL is ABCL Yeah, hi. So, ABCL is in fact or what is this? I can't read it. A, B, sellers, biologics. Okay, so this is in the biotech area, peak A, peak B, peak C, peak D, peak E. This is a, oh, let's see this red candle. There was some news relation to towards whatever in the biotech you always get this news event and you suddenly see a spike. If the spike holds it's really, if the spike doesn't hold it's not that good. And look what happened. It popped yesterday, closed at a 19.80. Today it gaps up screams to 22.63 and now it's 20.07 up 27 cents it's only up a dollar 36. Do you have a position in this? No, I got rid of it. Okay, so I'm just going to suggest to you because if you haven't called me and it was holding after that gap to the upside which was the high of the day 22.63 was both the open and the high and you called me and right now as we're speaking at 10.33 in the morning eastern time it was trading at 22.03 or 21.97 I would have said to you oh, I like that. They're accepting the news that the news is in fact impactable if that's a word towards their bottom line or towards whatever it is that they do and that would be very, I don't like this gift bag in fact for subscribers to an opening call we had exactly the same thing this morning. Oh, but you see this is what you want to see. So we are long stock of thermo-efficient scientific ink TMOs assemble from the 484 level we're taking two little bits off and I was deciding what to do last night and I said, you know what I like this dog. I don't want to mess around at all and then what happens there was it must have been some earnings or a news report and it opens at $597.06 yesterday it's trading at $560 it closed and then today it gaps it gaps up and it runs all the way to $601.99 how it missed $602 round number I don't know but that's what it did and then this is the candle Victor that you want to see look at the way of the days young explorations or not yeah but you see you're in the biotech I'm in an area that I've not ever seen the slimmer fish really stick when it comes to options exploration to the to some one of the prices just sticks at a certain level round number level I've not really seen it do that because it's just been on a tear to the upside but you want to see look right now it's up 3770 I did see it earlier on when I actually first noticed that it gapped up like this and it had it was only up 19 but it was still up 19 way above the the low of the day which is $576.00 I look always look at the round numbers so I'm just saying to you that in your case I would ABCL ABCL the the day is young if it can come back yeah towards the 21 it's a 2020 so that's a whole dollar higher if it's able to close towards the midpoint of the day I would say to you wow this stock is holding very nicely it's not I wouldn't say it's impervious to the news the cell the balances in fact I'd say that is really good action and then what I would say to you is on the next pullback towards the 20 towards the 1970 1950 level give me a call and let's look at it together because that's where I think another entry would be but if it comes back and by the end of the day it's it's really given back most of the gain in fact I would not like to see a touch yesterday's high of 19.88 because that'll say oh no this is just a news related event you see that so often in the biotechs I love when the biotech has a kind of a gap and then holds that gap for about 2-3 days and still after the gap takes out the previous high so today's high is 22.63 if in two days time now I I'll give it a little bit more I'll make it as simple as possible if there is a chance that today's low whatever it is by the end of the day it becomes the low for Monday because Monday kind of gaps up and it starts to work its way towards 21 give me a call let's look at it again because that would be good action but if it starts to pull back right now I'm going to say wait a little longer at the moment I would say the 19 somewhere between maybe between 1950 and 1920 maybe even 18.80 on any pullback I'd like to look it again because it is making higher highs and higher lows that's the indication of a trend in the daily it's done that now in the weekly as well everything about this technically is saying this is a nice chart pattern that you want to see you've got a good eye on this but I to buy it right now you can see the last time it had a gap a big gap like this was on the 7 the 1st of July gaps up opens at 22.51 that is the high the lows 20.50 closes just a few cents above that and then it just went sailing from 22 down to the low in the 14-15 area so I don't know if it's going to do that now all I can say to you is I like the chart pattern I don't like the candle of today have a little patience but keep it on your list because this is one that's in play the fact that it's making higher highs and higher lows so not just yet good eye so folks a couple of things I want to let me just do this again because I get calls all the time about gaps how do I treat the gaps so far this is perfect for TMO but it's at an all-time high that always makes me a little nervous to gap like this and all-time high with earnings report but it is only in leg C in the weekly chart and everywhere I counted I still only get a leg C thermo-efficient scientific anyone who lives in Waltham who knows the area you've on 128 you've been buying this building you've seen a change from I think it was called thermodynamics I can't remember the name the CEO from way way way back wow he did everything right just everything and then it became thermo-efficient scientific think medical equipment and it's a great company doing nice stuff 37 today I'll be back at the moment down to 137 as it was down 28 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 call 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 the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information David White's investment newsletter the technology insider is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future David White has made his living staying on the cutting edge of technology his weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week you can get the technology insider at tfnn.com for only $37.50 Sign up for David's newsletter the technology insider and get an inside look at everything the technology sector has to offer try it risk free today with our 30 day money back guarantee 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 smp biotech three times bull and bear ETFs visit directioninvestments.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 don't forget you can listen to tfnn 5 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 this credit age crash failed to take the test of the 2428 level leg d in the 5 minute chart I'm gonna watch this this is tough stuff let's see okay so a couple of things I want you to do here I haven't finished all my analysis but I did ask about the XLB which is there to select material spider fund there's the dreaded age pattern but it goes all the way back to the high that was made all time high 89-21 there's the age pattern failure if you want to learn about these I have webinars you can go to any one of my webinars I'm always talking about these dreaded age and very quick peak A, peak B, peak C, peak D and then whoosh look at that pullback back in in June small little move to the outside going to a D from 80.72 takes out the low 80 points it goes to 86, 80.67 makes the lower case H that goes to a lower case M pattern that we're all about patterns over and over that's human nature this is what we're looking at the pattern is a fractal of human nature it's a fractal of a smaller time frame that looks exactly the same at any time frame and there it is and finally makes the low in about the 78 area and rallies sharply in a big arch formation pulls back from that peak B little dogy candle now I want you to show you something normally what I would do is I would use this one penny difference to say hey there's a chance that this is a peak phantom, chapaway phantom peak B this becomes new peak B this becomes right here on the 11th of this XLB on the 11th of August at 86.58 leg B at 86.60 leg B at 86.63 leg B but that's official leg B, unofficial it's a C, a peak C1 and then a little bit below it you get your C2 with fading technicals you get the dreaded H pattern and now we down to $1.77 at 81.27 and in the weekly chart see what I mean in the weekly chart you go to the weekly chart low and behold we've got the dreaded H pattern here in the weekly chart you got a little mini one that could unfold in the monthly I am very I have to say I'm kind of cautious we are we've raised cash we got out of a lot of positions got a couple of core positions one of us made an all-time high today one is a little bit under the all-time high but at the same time I make mistakes so we had beautiful entry on one of the one of the leading sectors yesterday and I made the stop I didn't I should never have done that I made it just a little tighter than I had initially said I would make it and if that was the exact low and then took us out and boom I didn't get I could we had opportunities get back in today quite nicely I didn't take it and now this very sector is up almost four and a half percent the position that we would have had that happens but we've also got spectacular gains so I have to say in the pot in the in the smorgasbord of positions what can I do you just do your best so the Excel be very careful now I didn't finish I did the IWM I wanted to show you let me go back again so gold is now down six and a half silver is down at SI it's a continuous contract SI there's your dreaded H pattern there's the falling exclamation what is that in the chapter wave methodology it's this pattern here where instead of going up with a chamber a falling expert a pattern I've just reversed it upside down look here it is here it is on the upside where you're going to higher highs and you suddenly stop come down make lower lows and much lower lower highs and much lower lows find support break the break the downtrend line and you can get a one-to-one to the upside well if you look at it the other way around this upside down I just took the same chart and look even the lettering is upside down it comes down starts to make higher highs and much higher lows and much higher highs stores and all of a sudden for the chapter wave dreaded H formation at a peak A or B that's where you can get the deepest decline but when you go all the way to a peak APB C and D you can pull back but it's that usually it holds the left side low if it doesn't that's serious stuff because you've got well lo and behold yet I've been discussing this for weeks you've got the upside down let me make this blue so you can already see it blue there it is little thicker and there it is you've got yourself an upside down falling axe and you've got more than one-to-one to the downside you're holding the left side low what is the left side on silver this is the continuous contract I wonder if the SLV have a finished note there yep like that so I made a phantom peak to get you to a D and you've gone way below the left side low so this is dreaded H unsuccessful because it didn't hold this is not good and now you've got you remember I drew this the other day the chapter wave parallel expansion one-to-one look the same angle when it started to extend but it went to the same price the price that I'm looking at in silver is 20.67 that's the SLV in silver trust that's the level that's holding this at 20.81 right now it's almost there but the on balance volume is getting a little bit over sold you could have a bit of a balance so that's that look at high grade copper high grade copper is pulling back today it's down 0.02 at 4.2 0.60 it went to a peak C turn around this is also I'm getting a little cautious here everything this is I was saying wood and copper nicely that's the ice shares of the timber and forestry ETF global we're holding let's see where that is yep peak D pullback the chapter wave methodology how many hundreds not hundreds how many thousands of thousands how many tens of thousands of times in the almost 20 years that I've been here have you seen at peak D with serious things there's your peak D in the weekly chart of wood the ice shares at 98.98 making a cup formation and then it fails now that that cup is going to turn into an arches with markets about all the time either you guys straight up or straight down or you're making couple or arch formations so I'm any point we should get a balance in the market but so far they aren't holding and that's really the big issue so with that said I wanted to go to I haven't finished TLT TLT is there it is down today down a dollar and they usually when the market is soft like you get money flowing from equities pulling back into the safety of bonds we're not getting there spoke to a person yesterday one of the top bond people in the country and he says he doesn't see the tenure breaking out to highs at this point he says I don't know how the Fed will allow it anyway at this particular point you've got yields rallying some so let's look at the TNX see if he's right he's not always right TNX is breaking there's that pattern we were just looking at it what was the chart that I was asked about wasn't fang it was the other one so I'll have to go back to see oh we've got Robin Michigan Rob how are you sorry I didn't see you I'm well thank you and I apparently if I'm on the road from this I'll have to go back and listen to it but I was one of the VIX closed it earlier in the week in light of the F&P getting closer they're moving average I'm looking to go short again but like I said the F&P warriors were probably due for a balance and was intrigued by where the IWM is right now so let me do a couple of things number one is when our thinking are you able to hold on yeah sure absolutely okay so when our thinking says one thing and the chart says another objectivity is the most important thing we're all thinking that there should be a balance the market doesn't know what we're thinking the market's coming down but the IWM is holding better so I'll talk about as soon as we return wrong with Robin Michigan looking at the IWM the Russell 23 sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at TFNN you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either TFNN airs live financial content streamed live on TFNN.com and TFNN's youtube channel with Tiger TV live every market day from 8.30am to 4pm 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 8 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 and rise and fall like the tides subscribe to Basil Chapman's newsletter the opening call and you too can ride away Basil Chapman is an authority in technical analysis his Chapman Wave trading system has been helping traders identify trends and capitalize on momentum in the markets since 1984 TFNN invites you to test Basil's 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This is what the Chapman Wave tries to do all the time. Now, let's try to do the same thing. We're going to go back to rock. So we're looking at the IWM. So it's failed to cross for four, five, six, seven, for eight days. It's not being able to cross and hold above the nine and 14 period moving averages. This is not a good sign. So to go short at this particular time, would you go on the three times short? How would you short it? Yeah, I would probably go with leverage, yes. So the only way I could do it right now, because it's had a pretty steep decline from 229 down to the 219 level, you could start just a small position, but that isn't your real position. That's just a teaser to say, well, let's see what happens. So you think about the potential as well with the Russell as well? So what I wanted to say is that if it's able to close above 223, it's a 22170, it's 60 right now, that'll be the first time in a while that is closed above the nine and 14 period moving averages. And that would allow it maybe another couple of days to do that. But if it doesn't do that, in fact, by either the end of the day or all of a sudden on Monday is trading at 220 or lower, then you kind of missed a good opportunity. So I'm going to suggest it's a three times short. Don't get carried away. If you make money, that's fantastic. But to lose money, it's so quick that it can just turn on you. So just start a small position in the TZA. TZA is trading right now at, there it is, TZA is trading at 30.26, and it's made a peak peak. Just a start a position. You can even add to it if it starts to push higher, but don't get too carried on. Jimmie Rossin, sorry, I'm going to thank you for calling Jimmie Rossin. OK, have a good weekend. And so please also knock down. Be very careful. I'll do that tomorrow. Have a great week down the road. Stay tuned for a great program in coming.