 The following is a presentation of TFNN. The following is a presentation of TFNN. The following is a presentation of TFNN. The following is a presentation of TFNN. Let me give you a little example of what trading is like. Let's say you have a six-year-old son who has to have an appendectomy and you go into the hospital and it's at 2.30 in the morning and the only person available to do the operation is a second-year resident that has never done an appendectomy before. You're not going to feel very comfortable about letting that man take out your son's appendix, are you? What you want is you want the chief of surgery to take out that appendix because he's taking out 10,000 of them. It's like listening to a record for him. It's nothing. It's like it's the second nature. And that's what trading is about, too, folks. That's why when you're a trader, you have to have all the same thing that the doctor has to have. You have to have patience. Doctors bury their mistakes here. We just move on and pick out something else. So when you learn to trade, you have to be able to get it inside your head. That most important cycle, which is between your left ear and your right ear. If you get that cycle right, all the rest of it falls into place. But the problem is people want to start out trading because it's so easy to enter these markets. It's one of the industries where you have the easiest entry you could ever ask for. You don't need a degree. You don't need special training. You don't need anything. All you need is to be able to put up some money and start trading. What's so hard about that? Well, the difference is that you've got to learn what trading is all about. And I'm a pattern recognition trader. And I know there's a lot of other ways to skin the cat, not singing against cats, but there's a lot of different ways of getting this done. I just happen to, you know, I don't believe the fundamentals. They've lied to me so many times over the past 56 years that I don't believe a darn thing they say ever. And so I just look at the bar charts and yeah, that looks okay. That looks okay. And then if I do it, I want to be able to see it. But the only way you can do it is to practice and go and look and see what the market's doing. It goes up and down, up and down. And believe me, I had the longest journey to figure this out, folks. I really did. Fortunately, I've been lucky on certain things. You know, I got to work for a Drexel Burnham Lambert. I was bullish, gold and silver from 1976 and 1982. That made it pretty easy. But you really have to have that confidence that you're able to do that. And the only way you can do that is to work on the mental part of the trading, folks. Honest to God, it's a mental game. Now this morning, I happened to be a tiny bit tired because I actually got a good night's sleep last night. I slept over six hours, which for me is like a 14-hour marathon sleep. So I have to be extremely careful of what I'm looking at today. But I only look for three or four really good patterns every day. Sometimes they come in, sometimes they don't. But sometimes they work and sometimes they don't. That's happens to everybody. Now someone questioned whether this stuff really works or not. Well, let me give you an example, folks. They have the thing called the Timers Digest here in the United States where they gauge all the people for the year and for the quarter on how well they do. And I'm very proud to say that in the top ten of those Timers Digest, four of those people are my students and people that I worked with for a long time. I used to do that Timer Digest way back in the 80s when I was just starting to see the light on this stuff. And believe me, my light didn't come on until 1988. Honest to God. Well, 1987 is when it really started, when I started doing this stuff with Dr. Miller. But in 1988, after I had met Bryce Gilmore, then it became really apparent that this stuff was really going to work for me. And my aha moment was in Switzerland. And that's where I was doing the charts and I had six positions on and I got stopped out of all the lungs at a 1.27 expansion and I got stopped out of all, excuse me, the shorts. I got stopped out of the shorts at the 1.27 expansion and then the markets collapsed into my lungs. I was long at the 61% retracement level and I got stopped out at the 1.27 level. But what I did was I went back and started to reconstruct this and then about six months later I met Bryce Gilmore and he showed me the structure of the market. So when I'm doing these patterns, I'm looking at the structure of the market and highs and lows and how the market reacts to that. And that's really what I'm trying to do is to match these patterns with the things that I'm looking at. And believe me, there are lots and lots of patterns out there, folks. You start doing these smaller charts like Five Minute and others, you're going to see a lot of patterns. And you can trade some of those, but you've got to be able to understand what you're doing when you're trading it. If you're trading a Five Minute chart on the Euro, that's certainly different than trading a daily chart on gold. They're different. So you have to decide what your actual thing is going to be. What your risk is going to be. That's a whole key is how much you have to risk. And you only have to be right about 30% of the time, actually, to catch some of these things. But if you practice a little bit, you're going to be able to get above 60%. And you get above 60%, then you're talking about some pretty serious shackles in there. And that's the real key to look at. Now, tomorrow, excuse me, today at 4.30, I'm going to be doing Tom O'Brien's show between 4.00 and 5.00. And Norm Winsky is going to be on. And he's going to be talking about his Uncle Abe, Abe Silverstein. He was Warner Von Braun's right-hand man. He's the man who named the Apollo and Mercury programs for the moon. And he also selected the astronauts for those. So this guy was, you know, he's really very, very special. So Norm's going to share some stories and some pictures. They're doing a, they're getting ready to do some type of a large, I don't know what you call it, the museum or something, you know, to give him credit for what he did. So that'll be quite, quite nice to look at. Now, folks, yesterday when we were on the show, we were talking about that S&P problem. And yeah, the School of Hard Knocks, that's for sure. Let's move on here to the next one. Yesterday, when we were on the show yesterday, we were looking at this pattern that Maria had posted for us in the den. And you notice that we were looking for the price to come in around $29.65 in the E-mini S&P. And as you know last night, you know, we were able to get down exactly to that level. We'll just put this up and let you folks take a look at it and put the pattern in so you'll be able to see it. And there you are. There it is right there. Now, this is, we've rallied up to $29.69. I don't know where we are now, but folks, this market has made a double ABCD. You can see that right there. You can see the high at $29.88 and the low down there at $29.64. If we go below $29.64, this is going to be very, very suspect for a failed pattern because you're going to be breaking below the 78% level. And, you know, you're going to be breaking all those ABCDs. And that's how you determine the trend is when they start breaking these new lows, that's how you determine the trend. Let's take a break, 877-927-6648. We'll pay a few bills and be right back. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? 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Sign up today. TFNN has launched our brand-new website. You can still visit us at the same TFNN.com URL, but when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com, educating investors. Toll-free at 1-877-927-6648. Internationally at 727-873-7618. We're back, folks, and we've regressed to take a look at Bitcoin, so I posted it up here as of yesterday. Today, we've broken substantially above the $12,000 level, which we've been expecting it to move higher. The reason for that is, is that 382 retracement that we made from the low from $3,200 came in exactly at $9,800. It was also a perfect 61% retracement from the low on June 4, so that tells you that you're looking to go higher. Just a little bit above $13,000 sets up the ABCD structure that will take it above $16,000 should we get to that level. Now, this happens to be a four-hour chart. The reason why I bring this up is because one of my students from over in the UK actually trades this a lot, and he sends on his work each day, and I forward it on to what you folks are looking at. I don't look at Bitcoin. I have not traded it. I don't plan to be trading it, but maybe in the future, possibly. But I do watch it because it's in the forefront of the news most of the time, and some people that are very smart told me that this stuff about cryptocurrencies and blockchain technology is certainly here to stay. I wanted to share one other thing. Oh, by the way, we just found out that at TFNN, Al, our main technician there, his uncle, Fred K. Alden, was the NASA engineer who designed the cameras that we use on the Apollo moon shots. Boy, that's really quite cool. I'm not going to get into that. Let's take a quick look here. One of our friends here from out in the old state of Washington sent us a cool chart from the, hold on a second so we can get it up here, from the Elliott Wave theorist showing this pattern that we've been talking about over the past few weeks. Whoa, that didn't work out right. Hold on, here we go. And you can see here, this is the expanding triangle that you're looking at. This is the shorter-term version. It's still in there. Now, the market, you know, this may or may not be a three-drive pattern and also a six, a reverse-point wave because if we go above those highs that we made last Friday, that would certainly tell us that we're probably looking at a market that wants to go higher. But right now that pattern is in place and I think we posted that yesterday. Let's just double-check. Yes, let's get it up here so we can see it. Here's our version of it. And there were a few other things on this chart that are important. You have that three-drive pattern, which is the one-three-five pattern that you see there. Then you see the two triangles. Those are the reverse-point waves. And you also have a double-top in here, so this could be a major correction here should we get to that level. Now, someone's asked whether it'll be a major top. No one knows that. It's still too early to tell. Just like the Treasury notes and Treasury bonds, they reversed up there near that 61% level, but it took two weeks of dropping open interest to get the market to actually shake out a little bit. We've dropped two and a half points, almost three points in the Treasury bonds since last Friday with really bullish news. And now we'll see whether that's going to be very, very important or not. We really don't know that, but nobody else does either, folks. That's what trading is about. It's about observation. Speculation comes from the word specularie. A Latin derivative of that is to observe. And that's what we are. We're observers. And the main chart that you want to look at every morning, the first chart you look at is that one in the mirror, because you want to be able to get that chart correct. If you get that left ear to right ear cycle correct, you can do it because if you come into the market and think you're going to win every day, you're going to win a lot more than if you think you're going to come in and lose every day. You know that? That's basically it. Anyway, that's neither here nor there. Yes, Mr. Z is talking about Bob Prechter. And Bob is definitely, he's a genius. He belongs to Menzies and somebody's, I think the 999 club, which means that they're the 99.9 percentile of knowledge. And believe me, folks, I would be carrying dishes into that group because this old country boy, he's not in that class at all. But I knew I can do a few things right. And that's what I know. Do you remember one of my great movies? I loved Clint Eastwood, I think. I never got to meeting, but I love him. And I love his movies. And one of my favorites, of course, is Magnum Force, where he says, a man has to know his limitations. And believe me, trading is all about that. You have to know your limitations. You've always got to be focusing on, you know, to take care of yourself. And another quote from the movie, Knock on any door with John Derrick, where the theme for the Navy Seals is in that movie, live fast, love hard, die young, and make a good looking corpse. Well, John Derrick played the detective in that and he said, I never walk into a room without knowing three ways to get out of that room. And that's what you got to do with trading is, you got to realize that you're going to have a lot of frogs in that swamp before you finally find that princess. And that's it. And speaking of princesses, let's take a look here at the British Pound today, folks. We've been watching this for a very, very long time and it's down in this area. We have broken support. Let's just get this down into area and we'll see where we are. We've been waiting for this to happen. We broke the support at the 25 level and now we've come down pretty hard. This is a weekly. We have now folks, we have now taken out the weekly lows from 2019. Can you believe that? At 212441 was the old low and the low today was 12440. One tick, it made a lower low than it did in December of last year by one tick. Now that to me, you've got to bring up the old flagpole and say, hey, this is an alert. There might be a really good trading opportunity here. So your job as a trader is to go in and say, all right, this is the weekly. Let's go down to the daily and see what the daily chart is doing. And then if you see the daily chart has a pattern and it has a ratio by golly, you've got to trade set up. That's it. If you can be right, hey, you're not going to be right all the time. You're not going to be right 70% of the time, most of the time. Some people are good enough. Actually, my figures, I'm right about 61% of the time. Sometimes it's a little higher. Sometimes it's a little lower. But I will tell you this. When I was working with Mark Douglas here in my office, he was writing the book, the trading in his own. And these traders would come in and he would interview them and we would have a lot of fun, go to lunch and dinner and made a lot of friends and stuff. But the main thing that he looked at was statistics. And he looked at my statistics. And when I make better than 75% to 80% of my trades profitable, I make a lot less money than when I'm hitting at 50% or 65%. I know that seems strange, but that's the truth. Now remember, I'm an active trader, but I don't trade a lot. I mean, I'm looking for one or two good trades a day is all I'm looking for. And when I find those setups, those are the ones that I try to say, this looks pretty good. And it's been working okay, but it's never perfect. Look at the bonds. We tried the bonds three times before we got it right. And I'm not even sure we're right yet. Even though we got a lead in them, it still doesn't mean very much. It's still a little bit early. So let's pay attention to some of these things about the psychology of this. I hate to get off on a rant, but this is what trading is all about. And I'm sitting here looking at the picture of Mark Douglas and that's what made me comment about this. Let's take a break, pay a few bills, 877-927-6648. Larry Pezzavento has just started his brand new service, Fibonacci 24-7, and he's already delivering content to his subscribers on a daily basis when the market's opened and even on weekends. Each Monday, you'll receive Larry's written report that provides detailed commentary and a summary on the charts and videos that Larry sends out. And throughout the week when warranted, Larry will send out via charts or videos or both the key markets that he is watching during the day. This will be up to the date active trading information that will help you in your daily trading. In Larry's first week alone, he sent out 25 charts, six videos, and a full report to his subscribers in just one week. If you're a technical trader that uses patterns and retracements to trade, then Larry's service Fibonacci 24-7 is something that you must try. Right now, new subscribers can get a full 30-day money-back guarantee. With nothing to risk, sign up now to Larry Pezzavento's Fibonacci 24-7 by visiting the front page of TFNN.com under Trading Newsletters. The path of least resistance is David White's daily trading newsletter, and if you're looking for active trading ideas, then now's a perfect time for a 30-day free trial to this powerful daily trading advisory service. David uses his years of trading experience to offer his subscribers his trading ideas each morning in his Path of Lease Resistance newsletter. Using a combination of equity trades along with options, David keeps his subscribers up-to-date with all pertinent market information with intraday afternoon updates when warranted. Don't miss out on this great chance to get a 30-day free trial to David's daily newsletter, The Path of Lease Resistance, with no obligation to pay anything. David has been delivering solid recommendations for his subscribers recently, and if you'd like to see the type of newsletter he delivers every morning, then visit the front page of TFNN and you'll find the Path of Lease Resistance under Trading Newsletters. For all the details and to start your 30-day free trial today, log on to TFNN.com now. TFNN is excited about our new software charting program, the Art of Timing the Trade Chart. 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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. Okay, we're back, folks, and they're chatting in the den about the hog market because the hog suppliers are bringing out information about there's going to be a burdensome supply of hogs over the next few months, and that's pushing the prices down. I have to tell you this next story. I don't believe I've ever taught well, I probably have after 10 years of doing this, but I don't remember doing it the last time, but one of my most memorable experiences on the floor of the Merc was back in 1983. I had started trading in 1982 in January, and I stayed in the Merc pit back on the one on when we were on Jackson Boulevard in the old building. Now it's in all new building, but they had a the financial part was on the north side of the building, and the hogs and bellies and cattle was on the south side of the building, so I stayed because I did a lot of hogs and cattle trading at the Merc when I was there, so those people knew me at Lynn Waldock and Jack Carl and Refco. They knew who I was because I put in orders of three and four hundred contracts at the time for my customers at Drexel, and so I stayed down at that end. The other end was the financial area, and I only went into the pit one day, and I got tagged for a $6,800 out trade. Back into the pit, I just handed my orders in, paid $2 in, $2 out, and I didn't have to worry about out trades anymore. But on this particular day, I had been sure at three pork bellies and a report, a cattle report came out. It was a cattle inventory report. It was January, I believe, and the report was, oh my god, was it bullish? And I'm sure at three bellies, and I'm just really upset with myself because I'm sure at three bellies they're going to, I figure they're going to be up to limit one or two days, so I'm looking at probably $7,000, $8,000 loss. And so Jan Sklar, who was my clerk when I was at Drexel, she worked for her father down on the floor and she was now working for Maurice Eidman, who held the main deck for pork bellies. He was a little guy. He was only about five foot six. So I walked over to Jan and I said, Jan, see if you can get this on top of the deck, his trading deck, so I can get out maybe one limit up or something like that. And she said, I'll do what I can and five minutes later, she comes back and she says to me, Larry, he wants to talk to you. Oh my god, did my heart sink? I said, oh my god, what have I done? I've asked for preferential treatment. I walked over to him and he was standing on the first step and we were about eye to eye at that level and he said, I understand you got a problem kid. And I said, yeah, I do, sir. I said, I'm really sorry. I said, I'll take any penalty you give me. I said, I know I shouldn't have done it, but it was on the spur of the moment and I was upset. And he said, what are you upset about? I said, well, there's a very, very bullish report on cattle and get a little emotional here. And I said, I looks like I'm going to get pretty hard. He said, oh, he says, oh, he says, pork belly is going to be up the limit. And I said, well, the cattle going to be up the limit a couple of days. He said, is our pork belly going to be up the limit? And I said, well, I don't really know. And so he had his deck there in his hand. This is the only time and all the years I was there that they opened up the deck. He opened up the deck and the first order was to sell, I believe, 500 February pork bellies at the market. And he closed his hand, his little hand, and he said, that's just the first one. He said, now go back and trade with those animals in the financial pit and leave us alone. Cattle opened about 20 points higher and went a limit down immediately. Bellies went a limit down for three days. So just because these people tell you something's going to happen, folks, that doesn't mean it's going to. It really doesn't. It just really doesn't. You're the one that's got to decide whether you want to buy or sell. You're the one that has to take the responsibility. The toughest job that I have, folks, is doing that 24-7 service for TFNM because I put in orders to tell people what they should do. And that, to me, it's a lot of pressure to do that because I see the trade and some of them work, some of them don't. Overall, it's been pretty good. We take our hits just like everybody else. But I have people that drop me an email saying I put everything I have into live hogs. I said, oh my God, what are you doing? You can't do that kind of stuff. It's about patterns completing and it's about risk control and about being right more than you're wrong. That's really all you're watching. Just keep that in mind. That's the main thing that you've got to do that. I don't know about having a great heart or not, but I'm concerned about people in this business because you can lose a lot of money in this business, but you can also make a lot of money in this business. But you've got to know what the heck you're doing and that's what most people don't do. They think because they have a lot of money and A, they're pretty smart and B, they make a lot of money, but C, they don't know what the heck they're doing. But they get in there and they just keep throwing darts at it and sometimes they get it right, but most of these guys they just don't do it. Do it the right way, but trading is a lot different than any other profession because there's not any universities where you go to trading university and get your master's degree in trading. You get your master's degree in trading and they beat the hell out of you enough. Then you get your master's degree. Until that time, you don't have the master's degree. Let me double check to see what some of these markets are doing right now. I did post the chart of the Japanese yen and I wanted to talk about that. Let's see what we're getting a little nice little up move here in the S&P, which we were hoping so we're 2971. Boy, the one thing you don't want to do folks is you do not want this to go below 2963 in that. That's really for sure. You don't want to let that happen. That's the main thing to looking at. Okay, let's just move on just a little bit here and discuss a little bit more. In fact, I posted the Japanese yen chart and the reason, let me post it again because it's been a while. Let's get it up here. Alrighty, okay. Okay, let's get this down here and you'll see here let's get this stuff working right if I can anyway. Hold on just a minute. I think I messed up. Shut the front door and we'll see if that is the case. Yeah, we're okay. There's the Japanese yen chart. What I want you to focus on folks is way over on the left side where we have the three drive to a bottom pattern. You see that down there? That's a really nice little pattern. Very strong support that 10420. You got an ABCD. You got the three drive down just everything you could possibly ask for. Well, folks, this is the type of thing that we're looking at today in one particular market and we'll follow along here just to let you folks see what we're doing here. You'll get up here and here is the British pound now on the daily. You see we're right down there. This is really hard to believe folks you can't make this stuff up. Go over to January. January the second of this year. The market made a low of 2441. The low last night was 2440. I mean by one tick are you kidding me? We're now trading at 2475. Whether it's going to continue to work or I don't know, but you don't have to risk much at that point. There's a perfect example of lining up. Do you have to know fundamentals of what's going on with Theresa May or any of that stuff? No. You're just looking at the British pound and it tells you, yeah, if I buy it here, I only have to risk this much. So that's what pattern recognition tries to do for you. But there's a lot of other things involved with it too. Look how well Steve Rhodes does. I mean, he looks pattern recognition and a whole lot of other things to get his signals lined up. Hopefully this week I'm going to try to get Kari Sismanski on in the afternoon when I'm doing Tommy O'Brien show and we'll see what he can tell us. 877-927-6648. The first mortgage program may work for you. 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If you would like more information about the Tiger First Mortgage Program, you can call me at 877-518-9190 It's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7th, 2002 when gold was trading at under $300 per ounce. Gold peaked at more than $1,900 in 2011 and after spending many years consolidating at lower prices, gold may be poised for its next big run. Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, The Dollar, Bonds, South African Rand, as well as 25 different mining equities with specific buy-sell recommendations. As of April 1st of this year, the gold report currently has eight active positions with an average unrealized profit of almost 8% for each open trade. New subscribers get 30-day money-back guarantee so you have nothing to risk. For all the details and to start your gold report subscription today, visit the front page of TFNN.com. Don't let gold's next big run pass you by. Sign up today! Will the S&P 500 continue to climb? For bold trades on U.S. large cap stocks in either direction, trade SPXL, SPUU, or SPXS, directions daily, S&P 500, bull and bear, leveraged ETFs, and investors should carefully consider a fund's investment objective, risks, charges and expenses before investing. A fund's prospectus and summary prospectus contain this and other information about direction shares. To obtain a fund's prospectus and summary prospectus call 866-476-7523 or visit directioninvestments.com. A fund's prospectus and 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. The bull bear, binary option hour. Next on TFNN. Alright folks, we're going to take a look here at the November soybean chart, that's new crop beans. Going back to last February we made a beautiful ABCD pattern on the bottom there. Right around the 1st of May, that's when the tariffs are really getting into the game plan for people and they were afraid we were never going to sell another soybean to China. Of course the market turned at that point, but look at point C there folks. You'll notice that it makes a perfect butterfly pattern, excuse me, that's a three drive pattern and it's also a guardly pattern. I mean you got so many numbers coming together there at the 970 level. I mean that is really good and you notice it breaks and it stays there and never goes above that high and that's why you know when you're looking at some of these things the market will go down and back and forth and unless you have your game plan set up that I'm playing this thing to the downside you might get chopped around a little bit even though there's smaller patterns in between. But let's see where we are now. Since we made our bottom there in May the market rallied from just about a buck and a half a bushel which is 7500 soybeans and over the last several weeks you can see we made the ABCD pattern up there at 944. That's where Simonly and Rich Anderson were getting short and that turned out to be a really good one and now you know we're coming down to 382 support here down about another nickel or so in the November beans so pay close attention to that that'll be a real interesting one to look at because it's got a real quality there of having some kind of a bounce now we are way oversold in this market and so keep in mind that this is a you know just a pattern that's you know you have to decide where you want to buy it or sell it but I would go down to a you know smaller time frame and look at it and see if you have even super support down there at 882 now I don't have time to well I do have time to do that but yeah let's just do that what the heck let's just bring this up for a just move down to an hourly chart here and we'll move this up a little bit here and there you go you'll be able to see it here I'm not even going to draw the pattern in let's do something a little different today let you draw the pattern in oh someone Bill's asking how do I determine oversold oversold I mean you've been down 8 days in a row that's pretty much oversold anytime you're 3 days down you're oversold and when you get 8 days down you'll see that you've got a 3 drive bottom forming here probably really close to that 882 level that we're looking at so keep an eye on those beans that's going to be really interesting to see if they're going to be to see what's going about to see what's going on okay alrighty let's let's move on to one other thing that I wanted to talk about folks and where is it where is it where is it shut the front door and raise there oh here it is I want to talk about the TBT here a little bit let's get this up here this is the ETF for the 30 year treasury bond you'll see here we've completed that big ABCD pattern this looks a lot different we also made lower lows in June folks and that we did complete the ABCD and we believe that you know the bonds have made some type of a top in here but whether it's going to be much of a top or not I don't know but nobody else does either so that's that's the key thing to pay attention to as we're looking at some of these things okay let's double check what the prices are doing because this is the key part of the day and I wanted to make sure that I don't miss anything here let's just see what we should go to in the E-mini S&P here we're trading at 29.72 we got down to 29.63 now if you're really watching this and let's say you're really bullish you're really bearish if you're bullish you bought it right and the key thing to look at today from my perspective is to see what the last rallies were well the last rally was 26 dollars so you had 26 handles you had 26 to the 29.64 that's going to take you to 90 so you'd be looking to sell at 29.90 that's the 61% retracement of the move folks now maybe it doesn't get there that's we have to decide what is your game plan going to be during that time so just keep that in mind that you don't know which pattern is going to work you just got to select the one that you think is the best we have a bearish bias on the market whether that's going to mean a whole lot I don't know right now it's working it's not going to change you know in a heartbeat but that's the key thing the one thing I feel pretty comfortable no no no let's don't use that word comfortable that's not a good one is to watch the bonds folks because if those bonds get below 154 that is going to mean that over the last three weeks of dropping open interest you know people leaving the market that doesn't mean there's many buyers there folks they've been feeding his cannon fodder well that's not it maybe it's true you know maybe there's going to be zero interest rates but it isn't going to happen right now and maybe it's all wrong you know they get things wrong you know they got things wrong about the Asian hog population look at that hogs drop 30 cents a pound in the midst of the most bullish news you could get so trade what you see not what you hear that's the main thing you got to try to realize that that that's relatively important but you don't have to remain to be seen personally what I'll be looking at is there should be really strong resistance at that 2976 that's up about 13 handles from the bottom so I would think that that's what we'd be watching to see if that's going to hold that level but if we get there and then turn down it's going to be pretty nasty and that key level of 2963 is really important folks I mean it really is if you look at the do the work yourself go look at your high to low and low to high what was the rate of change on the way down how did it get there why did it stop there that's what these numbers are trying to tell you and they're only probabilities they're not certainies very very important to keep that in mind as we look at that so you don't know when these patterns are going to work that's the that's the whole key to looking at I want to finish the show let's get up that gold market because I really believe that we've got a chance in this gold to get it down to the area we've been waiting for for a long time and that's at that 1380 1380 is going to be the ABCD it's going to be the 382 of the low from way back in May that's got a lot it's going to be down 60 some dollars from the high wow it's got a lot of stuff there whether it's going to get there or not I don't know my assumption is it will probably go down there in a spike scare the heck out of all the longs like they usually do and then possibly move higher so that's the one that's certainly on the watch list for the gold market it's definitely looks like it has the possibility of making that 1380 probably this week because this is only Tuesday we got what three more days trading so we should be able to do that pretty good okay Mr. Z saying he has a different view he said the hog disease and big hog kills in China was not very bullish news for the CME hog futures why? because China has not imported used amounts of pork people who thought China would buy pork were wrong well like they certainly were so that's a good thing Mr. Z you know that's the main thing very very interesting I know Mr. Z was bullish during that up run because we we happen to be long hogs during that that big move up unfortunately we got half that we got really took half of the move up it left half of us behind us and now it's far far lower than where we got out so that's an important thing let's take a break 877 9276648 I'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trait that we tigers and tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of Mastering Probability and for the last 12 months Timer Digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12 6 and 3 months which also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do sign up for Mastering Probability today by clicking on the newsletter tab on the home page of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too sign up today if you haven't checked out the newsletters page of TFNN.com what are you waiting for? all of the TFNN newsletters are informative up to date, affordable and must have for every trader looking to gain a competitive informational edge in today's markets TFNN newsletters cover every aspect of the markets to offer you the very latest in market news plus new subscribers get to test drive our newsletters risk free for 30 days each day you trade including stocks, bonds, metals commodities and tech there's a newsletter to fit your needs exclusively from TFNN stay informed each day you trade and get the competitive edge that will help you stay ahead of the game visit our newsletters page by going to TFNN.com and click the newsletters button near the top of the page TFNN.com Educating Investors In 1984 Bazel Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion while originally hand drawing charts from the late 1970s into the 1980s Bazel noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Bazel found that computer software which included the standard market technical indicators enhanced the degree of accuracy and calling price turns and calls thus was born the Chapman Wave sequence using the Chapman Wave methodology along with other indicators Bazel Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a 2 week free trial to the opening call Bazel's daily trading newsletter by visiting the front page of TFNN.com cancel at any time during that trial and pay absolutely nothing get your 2 week free trial to Bazel's newsletter by visiting the front page of TFNN.com 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 Folks we're going to wind up the show here pay close attention to this year folks it's really trying to find support down here at this 112 level whether it's going to work or not I'm not sure the British pound also as we just talked about that we did take out the lows on January of last year at that 124 41 the low today was 124 40 that could be a very important spot because the market didn't collapse from that level which sometimes they do and sometimes they don't this just tells you how much you have to risk to see if you're wrong or right the risk here is really small on a you know contract that's pretty good size the other one to watch of course is that gold market we really believe quite strongly that we got a chance to get to that to 1380 level and we just told you why we think it's important those of you that belong to 24 seven I've been handling harping on that for quite some time to see whether it's going to hold that level that means silver December silver would have to get below the $15 an ounce level one more time which would not be too uncomfortable because it's got really strong support so we'll see whether that's going to happen also as a reminder today at 430 we will have Norm winsky on he's going to be talking about his uncle Abe Silverstein who was Warner von bronze right hand man and he sure has a lot of history of what happened to the astronauts and stuff so he named the Apollo and the mercury programs he was the one that gave the name so he must have been doing some astrology maybe that's where Norm picked it up he swears he didn't pick it up from his uncle but who knows as a point of interest folks Abe Silversteins is from tarot India this being in tarot Indiana the Silverstein family I had a jewelry store and that's where I bought the engagement ring for the first wicked witch of the west actually she was a pretty nice lady anyway that was just only 18 years old when I made my first engagement and anyway let's move on to the next one hey live every day in an attitude of gratitude and may God bless and we'll see you on the flip side tomorrow trade well keep your stops working because if you don't you're telling the market that you know more than the market does that doesn't happen