 The following is a presentation of TFNN the Tiger Technician Hour with your host Basil Chapman call now toll-free at 1-877-927-6648 Hi everyone Basil Chapman on the very last day of October we're looking at the candles in the monthly charts in a moment and certainly an important session for a number of reasons we're gonna discuss them right now in the chapter methodology we're always looking for let me just get this right here we're always looking for the most identifiable low bar count each successively higher peak we alphabetize them A through G sequentially on the way up uppercase on the way up lowercase on the way down I tells you the trend basically but it's at that fourth highest peak peak D ABCD the fourth highest peak that other things can happen so what do I mean by that in the chapter methodology we try to get you in whatever positions and hopefully going from a buy signal to a buy mode the moment I mentioned buy mode it says that there should be at least a peak D you can go higher but D is your objective well wait a minute we've got a peak D at 35,892 all-time high four sessions ago we we are 35,735 right now up eight so we're under that particular level but the MACD is good the 9th period is way above the 14th period moving average the statistic pulling back but still really good at 87% on balance volumes lagging didn't get overboard and the weekly chart has got a little doji candle there suggesting we've got to be a little careful here we are long we took two little bits of our long position on the shorter term long position the diamonds let's see what happens here because I have we've set ourselves up to be able to go short in the indexes but we haven't done anything yet there isn't any reason to because there's still some internal strength that needs to be fulfilled so we're looking at end of the month buying coming in and now what we're looking at also is that we have to assess whether or not that buying is now completed and you have a pullback and there may be a late-day sell-off or late-day strength we just don't know yet we'll try to assess that as we move along S&P did something very unusual all-time high at a peak see at 45 98.53 four sessions ago yesterday went to 45 97 let me just double-check that so that says in the chapter we have 45 97 55 a lesson a point away from all-time high now what we're saying is in the chapter methodology there's a technique that I use that says you can go to a peak C pullback and then if there's a little hint of a pullback in the technicals but at the same time the price just fails fractually under that left side C and after that there's some kind of a deeper pullback be ready because that could be called the peak C1 and a peak C2 like a phantom peak that just didn't get to D but everything about it said that you should and that's what I'm thinking right now that there's a chance but you know the MACD is so strong it hasn't even the histograms only started to turn down and still very strong the stochastics at 91% that is fabulous the unbalanced volumes are tad overboard so you've got a little bit of a callback nine period is way above the 14 in the daily got a leg E in the month in the weekly chart this is a leg B amazing leg B still from the low of 2020 in March is 21 91 look what we've done you've gone from 21 91 to 45 87 and it's only a leg B that's different to the Dow which is already got it's a little more mature in this shaft wave notation it's in leg E a very quick D2 and E we're going to be watching this closely and went from 18,000 to 13 we've been long since about 20 just under 21,000 for subscribers to opening call taking just a little bit off that entry point and then like the near term we're also long a different position why is this in here let me just get rid of this these things really upset me okay get rid of that okay so in one move the asset one move for the just a fractional one month pullback the S&P's in leg B this is already gone to release it's a little bit more mature but I actually love that the action of the Dow overall and the mix the components I think this is it for the makeable market it's really important okay let's keep going so we're looking at the QQQ same sort of thing this is a leg alternate count leg G or leg C in the upward movement main all-time high of 383.13 yesterday that is a peak C technically this should be a leg D it's very rare I don't on one hand I think I can count the number of times major indices of major stocks make it all-time high and then failed dramatically at a peak C or a B it happens but so rarely it usually goes to at least a D look there's a peak D at 382.78 September September the 7th in the QQQ in the X100 trading vehicle and it slumps 40 points to 354 I would say that's quite a pullback and now it's come back in a V-shaped pattern and in fact I had this drawn but then I got I let me just do it right now this is the Chevrolet left side right side price time match look at this you go to the exact low this is called a plum line right there look at that plum line goes right to the low and then what you do is you make it like a T formation right there you go to the right side green and what do we do in the exact number of bars it actually did it in one bar quicker it went to 382.78 and then popped above it two days ago isn't that an incredible technique and there's the one-to-one to the upside in fact I haven't fulfilled that that's now that's now there it's done exactly what you want in the QQQ one-to-one to the upside left side right side price time match there's your plum line what a perfect example of a V-shaped pattern same number of bars to the downside same number of bars to the upside in fact is one oh it's yeah it's exactly right exactly to the day yesterday all right so that's going to be very important and that makes the 380 level on a very 379 on a very short-term basis important support now let's go on we want to look at the IWM the IWM is the Russell 2000 I had the same thing in a cup formation here it was different pattern all together it went to 230.72 underneath the 234.53 March all-time high is a rectangle formation rectangle formations can last what's the expression a lot longer than your patients and there you are so now let's go key support now is in the 222 area it's a 228 that's way down and resistance starts at 230 if it can break above 230 by Tuesday or Wednesday that's fabulous action but in the meantime it's stuck in the higher range I do want to go to just quickly the SMH is semiconductors holding nicely but it's got to a peak D underneath the all-time high of 276.69 August the 16th which pulled back at peak E to 248 and ran all the way back and now it's working it's hard there's going to be an important indicator going to the close a week from today if the SMH has gone above 277 that's fantastic act closed above 277 that really is fantastic action if it pulls back under 266 this consolidation will be continuing sideways I want to go to the crude oil crude oil is down 76 cents at 82.05 I said a close a few days ago I said a close below 82 not a hit but a close below 82 which suggests we're going to have a deeper pullback in crude oil and you can see from that 8541 in the chapwave inside track repellent zone at the even have pullback most of time will fight some time but it hasn't really broken down and I have to say a close below 80 by Tuesday or Wednesday or next week says haha finally crude oil is taking a breather I'll be right back are you looking for a way to consistently add winning trades to your portfolio Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed 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TFNN's youtube channel and become the investor you were born to be TFNN educating investors call now toll free at 1-877-927-6648 internationally at 727-873-7618 hi everyone Vazzel Chapman here we're back and the Dow is down 27 it was up earlier and now and the S&P is down something so we're looking I just wanted to show you this remember I was talking about this peak C1 C2 potential double top well look at this the this is crude old this is a two-minute chart it pulled back sharply and ran up peak A peak B peak C1 on the 200 period exponential moving average then it double tops and now it's pulled back that's where you get to see that the hint was that there was a an M shaped pattern in the mag D and the stochastic balance it was still very negative but it did bounce and they gave you a clue that there could be another test maybe even a D and then it fell right on the resistance so this becomes peak C1 C2 and now it's pulling back it's down 98 cents so just for disclosure purposes I forgot to mention earlier if you go to the crude oil let me show you the chart right here at CL this is a continuous contract it made that peak at 85.41 that was a recovery high but it was also the V-shaped double top I spoke about this that I had a question did you speak about that potential double top and crude oil you know I don't think there's a double top per se other than the fact that at 85-65 and the continuous contract remember that's a changing price because it gets smoothed out but that was the price in this particular iteration of the crude oil continuous contract way back in 2018 and it pulled back very sharply to $7.61 and then it ran up and this is in leg D in the weekly chart this is in the monthly chart I've got a D-B in the weekly chart and that peak E with a doji candle at 85.41 see to me you know what there's there's risk now that crude oil doesn't continue higher or if it does it's just very modest and for subscribers I said okay this is risky but let's let's get a position here in the short oil it's not just short it's two to one short and we've got that position and I'd said if that particular issue that we had if it bounces to a particular level take a tad off and then yesterday I discussed what a tad is a tad is just a small proportion of the whole total that you have because you want to reward yourself for a good positioning and then you also want to have that little bit of a profit become your cushion so you can now you've got a little bit of flexibility with your stuff so we don't know but all I'm saying is that I think that crude is showing sign it's only now to say signs of some kind of reversal on the daily nothing in the weekly yet the weekly the MACD is strong sarcastic 95 percent on balance volume is a tad overboard I'm just saying that this is a position just based on the chaff main methodology that's what we took it went to the inside track repellent zone yet again it had the measurement I love this look one two three four five bars and then one two three four five bars in this rising cup formation into the inside track repellent zone and I said this is just risk reward that's what we're going to do so far today is young it is crude all you never over the weekend who knows but at least it gives us a bit of a cushion it's now down a dollar six and okay enough with that let's go back to the I want to go to the TLT this is now bonds the TLT is rising uh it is the 20th treasury bond fund it's at 147 51 it's up 28 ticks now this is going to be very important because it's in at big C the MACD is good so cast six at 84 percent the on balance volume is kind of weak and that's just suggesting there's a chance that they will be an attempt to get to the D I haven't yet I'm going to do it now I haven't yet drawn in oh what a pity I'm doing all this I can't save anything because of my left side charge which you can't see which has just an incredible wealth of information for me it's also about trade and I can't do anything now because I I just messed up the whole thing so I have to shut down when I'm done um and then restart and everything that from this moment on I cannot save because if I save it I've saved the left side chart so when I go back to it uh it won't be there all right so in the meantime back at the ranch what I'm looking at here is um the TLT let me go to bonds as well us this is the bonds has got to a peak B if it doesn't make a new recovery high today it's up 7 30 seconds at 160 and 23 30 seconds it needs to get to 161 and 9 30 seconds to be able to it's so funny that something's still trading in say 30 seconds we used to have this all the time about remember the crash of um 84 after that I'd always be looking for round numbers and then when they went to the point system um of course that was 0.01 that's different to a whole 25 cents made a big difference all right so let's get back to this um so far the yields are saying that in the context of in the context of the yields you've got your pd and yeah you could start to see the arch formation of this there's the falling x breakout pattern um and now you can see the potential for an arch formation not only that if the market pulls back very often money comes out of um out of stocks and goes into bonds just for a safety factor so i'm watching this closely to see if yields start to come down i'm not going to show you the the the weekly 10 30 and 5 year charts just right now there are too many questions that have come in too many things i want to cover so this says go straight to the xlf and the xlf has made a peak d that's the s and p select financial spider funny remember peak d is where other things can happen we have pulled back is holding the other highs this is actually yearly highs and um it hit 40 40.86 on the 26 of october just pulled back deeply three days ago now it's kind of filling in this like a rectangle formation if there is a break to the 41 35 area in the xlf in the next three sessions that's that means Monday Tuesday Wednesday that's going to be really positive i'm still calling this a leg c it should be f slash c but i'm calling it c for now i'm watching this closely why because with yields pulling back here you would expect that the xlf would be a little bit deeper let me just look at one of our positions bank of america look at that makes a beautiful recovery high at 48.43 yearly high um and a peak e and now it's holding sideways and it's definitely i'm the same thing in doji candle leg c i'm going to watch this closely because this has been one of the leaders with the xlf it actually looks like the xlf right now look yeah the charts the same notations almost the same so i'm watching this very we're in a 31 in the bank of america so it's a fabulous move up to 47 48 now what i'm looking at is in this xlf what are we doing well i'll draw a quick pattern to say this is what we're looking at we're looking at the chamois falling x formation and it just makes it real clear that in this particular pattern if there is a break above 40.78 in the xlf doesn't have to close just has to hit it then there's a good chance it's going to take out the high that was made in 40.86 on the 26th but if there's an arch formation we'll know by monday maybe monday monday afternoon to tuesday at this time during my show if there's a pullback under 30 under 40.05 to 39.88 anywhere in that range it says watch out could be an arch formation and a pullback is coming next thing i want you to do is to show you gold i did this during i did this during the 10 am updates look gold is at a peak d chaplain wave this is this is a prerequisite that you have for a buy signal to go to a buy mode it did that almost double top there now it's pulling back yesterday i was discussing as long as it's under chamois falling x i it's technical friday i suppose i should do that technical friday means that i should show you this is the pattern that we're looking at right here where it makes a higher high then makes makes a higher than makes lower highs and much lower lows but it's also pattern that gets inverted and the inverted is upside down and when it breaks that support has a problem it's exactly what we're looking at in gold i'll be back in a moment thousand are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with become an apex predator in the trading markets and join the tiger's den trading room only at tfnn.com the tiger's den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas join the den and surround yourself with the sharpest minds in the trading world subscribers to the tiger's den are also the first to have their questions answered live on air and can privately chat with our tfnn hosts live during their shows interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all 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guarantee don't miss out on this incredible new piece of software get your copy of the art of timing the trade charts today by visiting tfnn.com this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com so real real quickly i had a question uh from a subscriber where would a re-entry in fang be fang is the diamondback energy ink trading at 105.73 fang symbol made a beautiful hide 114.73 with a round number open or always a clue that something's gonna happen on the 18th of October and yet it is 105 that makes it 100 and what i said was 111 really that's that's key key resistance now close above that says you're gonna probably making your recovery high and i'm calling this a b in the weekly chart i could give it an alternate count f slash b but everything about it suggests go with the b but it is leg d in the monthly chart so i've got a left side right side price time match and it says if the if the 104 support goes by really quickly it has to be quick by Monday or Tuesday then i would target the whole area of 96 to 94 by the 5th of November that's real quick so it would mean that suddenly there's this big selling in in crude oil i'm not sure i'd be a little conservative and i'll say the 100 is the 101 to 100 let's see out if it gets down to 101 to 100 let's assess and see where crude oil is at that particular time any pop to the upside above 111 says hey that's pretty good action so we're gonna watching that so a couple of questions i got i don't know if i finished everything i wanted to do earlier on i did i did i better do this again so i was talking about gold so gold is as i said before gold is in its own little world think of the vixx vixie dolly bondy and goldy all in separate universes right now the vixx index is getting real close to some kind of a pretty decent rally and that should be where the market pulls back it doesn't have to pull back much but it'll have an opportunity to move the dollar is is consolidating it's i don't think it's going anywhere right now and gold is within a trading range and the vixx index vixx index is just down in the lows at 17 yep it's had a pretty decent rally from the 14th to the 17th but it's not at this point by the end of the day if it's up at the 1830 level that's something different altogether for Monday or Tuesday but if it pulls back and market tries to rally one more time it just says hoe harm right just at this particular moment but it's getting ready because it's made a doji candle low i often watch those because that just is if a moment of indecision for hedge fund buyers and anyone who's wanting to ameliorate risk is looking at that and that's just right there is where it could be a halfway mark or turn around and it's turned around a little bit to the upside all right so i want you to show you silver see this is the whole thing silver's pulled back with the chart pattern isn't anything like gold it went to peak d it hit the 200 period exponential moving average pull back just like you expect that can happen in 200 movement moving average it's in a range it's acting a little bit better than gold in the shorter term but look at this bitcoin bitcoin has made a peak d how many peak d's have we seen today that have been the more time and price movements that we've seen in whatever index and this one i actually have to give a down arrow to on the daily not the weekly just the daily and this is just suggesting although we've got we are still long from the 12 000s in some small position based on the gbtc which is the bitcoin fund all i can say is gbtc that wasn't it gbtc i said to subscribe is this peak c looks like a d and i'm going with the root which is the futures and the futures have gone to a d so this can store for a little while and you've got your cup formation in the weekly chart stalling underneath the previous high so just let's think of this as a fantastic trading vehicle but right now it's going to stall a little bit and maybe money starts to be activated trading around the gold that's what happens doesn't have to be up or down but just as percentage gains that's what people try to do so let's get out of this i want you to just show you the dollar one once here i don't know if i've shown it yet a dollar's nice candle green candle of a horrible red candle yesterday but it's basically consolidating peak f in the daily chart 94 56 we're still long so we are long the gdx so is the gdx we are still long the dollar away from 90.07 in april of last year gdx is a 32.04 we're long from the 30.74 area this is exactly where you should see some kind of support and maybe a bounce early next week maybe the dollar pulls back a little bit this is going to be an as i say this is an important phase now i had an email uh let's see uh here we go x made new highs on great earnings today what would be a good entry point on a pullback i had been trading this and made money on the last move up to the previous high of 30 i did get out of ung as i did not like the way it looked but i was i was out over 20 a share so made enough to pay for the newsletter thank you very much subscriber so i'm not sad at all natural gas looks to me to be pulling back so might be a good entry point in the future have an awesome weekend thank you so uh thank you so let me just show you a couple of things here x and in my webinar every webinar that i've had for the last two years i've said um steels are what you need to be to really want to be playing but it's really difficult because you just don't know when they're going to move and then they pull back very sharply and then suddenly they break out well u.s steel plummets down to the 20 area 20.5 years what is it today 26.33 up 2.94 with a gap up after peak b after the breakout of the rectangle formation it's almost like it's a reversal of the whole island like an island reversal it's amazing so where would i be looking at this remember these are sudden moves in stocks that need a lot more these are the fundamentals of the u.s economy so i don't know whether they're going to get a boost because of infrastructure play you know infrastructure is going to be mostly social programs i don't know when they'll ever get to the infrastructure real infrastructure but yeah where would i enter let's look at it together if there's a pullback buying any day next week if u.s steel is closes underneath the low of today even if it's today of 2576 i'd be looking at the 2510 to 2480 area to say hey is this the place where you want to get in because as i said you kind of have to be in and risk going down to have these big spikes and it just constantly does that so i hope that helps you let's just look at natural gas for the moment natural gas is pulling back yeah not yet hold off i think often natural gas goes up when crude oil comes down but sometimes they're going unison just like the dollar and the dollar and gold going opposite directions but every once in a while in the year there's like three to four weeks where they're actually going the same trajectory a question about f u g f u t u um yeah i i'm just gonna say you know i mean i did this the other day and i said i'm really i i don't like the action here and it's gapped down it doesn't look very good um at this particular point at 54.06 f u t u is future holdings um i i just say if it can't fill the gap by Tuesday afternoon Wednesday morning of next week in other words if it can't go above 60.30 and say it says it stays around here this is not a good sign at all that becomes an a pattern the eiffel tower straight up straight down in like an uppercase a in the monthly chart and just real quickly f x i then we got another question yeah f why is that stalling uh i'm just today's one of those you know larry always talks about technical problems as well technically it was p t in f x i pulling back remember i said be careful i think it's had its big move and the i shares china big caps might be pulling back and then i had a question about where did it go where did it go where did it go uh regular question in video yep i'll get i'll get you in video in a moment that's the chapter i'll give you some quick comments in the um a youtube tiger youtube i'll get to go as well 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 l l c 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 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the technology insider at tfnn.com for only 37 in 50 cents 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 s and p biotech three times bull and bear ETFs visit direction investments dot com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at eight six six four seven six seven five two three the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services LLC don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv hi folks during the break i had a question about bm o and i thought bm o i know that name i don't that symbol i usually remember symbols don't always remember exactly what what it is it turns out it's bank of montreal and it's made a new all-time high well i think it's an all-time high yesterday let me just have a look here yep oh wow is that an all-time high is that yeah i think it's an all-time high anyways certainly the most recent 10 year high and it went to 100 and just about 112 it is trading right now to 110 38 fabulous peak e in the uh if there's no new high today in the daily chart magnies good stochastic outstanding 92 on balance forms of tad overbought relative strength is starting to pull back leg d in the weekly and i said looks fantastic one of the best bank stock charts i've seen in a long time but i also suspect that we are going to look at uh we're going to look at some kind of consolidation and that the 180 180 106 area by mid november should be tested and that's the way i'm looking at it but this is fantastic definitely well we've got a call we've got white shark in boston hi white shark how are you hi balzo how are you i'm good okay so it's a kind of a combination of things here you know i was waiting for you know you have to say on the spx the 40 you know the contract the 4600 you know you know the break you know up to there and and the qqq is the break it's you know it's all time high and and fail and it seems like these markets have strength so so what do we got going into november to look forward to here and and and maybe something about the commodities you know copper and stuff we continue to hear about low supply and big demand and i'm just trying to get this this is kind of frustrating right here it shouldn't be frustrating you know it shouldn't be frustrating unless you're expecting something that's not happening so let's just be as objective as possible the technicals in the qqq are outstanding in the daily the weekly technicals are very poor but the nine period above the 14 period is is the benchmark for me and it's really strong and the monthly chart actually has one of the best technicals out of all the three time frames so that's a big positive so yeah my rule of thumb and it's only my rule of thumb and you know thumbs can change they can point to different directions my rule of thumb is that if a marker if the this is based on the dow if the dow closes the the last week of october or goes into the end of october the first week of november close to all-time highs having survived a september october down move sometimes it's a crash sometimes it's just a pullback and this particular point it depends on which index you're looking at but it was reasonable three to seven percent pullback and now we're at all-time highs with over the last week or so in all the different indices there's a good chance that the market and again i'm going to say the dow but it usually is the market itself is going to close close to or near the all-time highs the last day of december that's just my rule of thumb within that you can get a really choppy november december before that all happens in fact you can get a fantastic december and the last week we've seen it before you can see or last two weeks you just suddenly see a sharp down move unfold so all i'm saying is historically back in my mind i haven't even done this as a real test other than my my my memory and of course i've made a dow call of every single day for the last 40 years or so all i'm saying is within the context of what we're looking at the qqq is still very strong it's down to day two but it did make it peak c and we know the trap we methodology almost always not every single time but way about 95 percent or more of the time we're going to all-time highs at least the daily chart is going to get you to a d at least a d even if it has to be an alternate count against you to a d we're only at c so there's still inner strength there so let's go there the s and p is trading down 12 at 4584 it made a higher 4598 53 four days ago it made a higher 4597 55 i believe yesterday and it's got an inside bar today and the magpies strong sarcastic is wonderful at 91 percent the unbalanced ones are tad overboard and the register strength is okay it's not great but it's it's good and the nine group moving average is strongly over the 14 and the price is strongly over the nine and it's a leg in the weekly chart so i until we get signs of deterioration in price and then confirmed by the technicals i have to go with the the concept right now that um so far we're we're hugging the highs and there isn't any catalyst i think it's going to be news that does it but the news so far hasn't been the catalyst for any technical deterioration because it's so far strong the Dow itself as a benchmark is 35892 was the all-time high uh it's at 35747 really close to the all-time high possibly a leg d doji candle forming in the weekly chart and leg e in the monthly all i can say is that i have to set aside even though in my news that i've got our preparing our shorts for a particular situation i haven't implemented them i haven't i i've thought about it but i just see some inner strength that i do not want to fight at all and because of it there are price movements that are going to tell me what to do so i have to look at it at this particular point to say at this very moment uh sharky as you're calling i'm going to say there are hints that there could be a pullback but that's a hint is not the actual action itself so i'm just trying to say to you you know now let's go to hydrate copper hydrate copper had a spectacular went to the usual we get a little nervous peaked here 4.6855 um that was about two and a half weeks ago it's trading at 4.355 it's in that rectangle in the cup and the rectangle formation it's at the lower end of the midpoint it's just gone underneath that midpoint so that's saying to me there's a stall so there are contradictory technical actions if you look at the different indices but you'll ask me about the s and p and i'm saying i'm anticipating some kind of a pullback i'm calling it just a pullback at this moment but that's just an anticipation i will just make it real simple if there is no new high or even if there's a new high in the next few days about 45 98 53 that'll take us to d that's where we start to become cautious that does mean where you throw everything to the short side it just says that's where you got to start expecting a deeper pullback but to make it as simple as possible by Tuesday afternoon Wednesday of next week if there is a close under 45 42 let me be careful here 45 no 45 48 that's 40 almost 40 points lower as 400 down points the s and p will suggest that it's starting a consolidation so that's that's them i mean those are my parameters and i don't want to um i don't want to be ahead of the game i'm just saying be a little careful but we haven't got any signals just yet i hope that i'll thank you very much basil and uh you have a great weekend you and your audience same to you thank you very much so folks we're about to go to our final segment i've got a couple of things that i want you to look at that i think are going to be very important for next week um i'll talk about them soon as we return but now the s and p is down nine it's coming back a little bit i'll be back 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 in technical market 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florida the investment is for four years paying 7 per year or $7,000 per a $100,000 invested your investment is secured by high value real estate in st petersburg florida your investment can be anywhere from $100,000 to $500,000 you want to make $1,000 per year on $100,000 invested or $7,000 per year on a secured target first mortgage the target first mortgage program may be just the program for you the target first mortgage program pays 7 per year paid monthly for more information you can call 877-518-9190 that's 877-518-9190 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 I've got a certain kind of d's we're always looking for peak d in the chapter wave methodology look at this there's a peak d in the 10-minute e-mini chart oops i keep doing this and then what happens is it pulls back sharply from the 40 around about 45 75 area and it goes down to 40 45 59 and look it just bounces around bounces around then it makes a peak abcd pulls back a retest but doesn't take out the left side low so all of a sudden this is a peak e out of the rectangle the correct angle formation can last a lot longer than your patients so i just wanted to mention that okay let's just do this get us ready for november which starts on monday and of course have a great halloween everyone there we go so the dow needs to get to 35 i suspect and i said this last week uh no earlier this week that the 35 900s before getting to 36 000 that's going to be the big test of strength can it cannot break over 35 900s to me that is uh that is a serious resistance area i'd love if it does i mean we're so long we'll see what happens um and the s and p just make it very clear we just had a call from charquery looking at uh the s and p s me green candle today but it is down 11.33 opens the low so if s and p is able to get into the 4600s 4610 actually 40 4610 area close above that that's going to be really good action if it doesn't by tuesday or wednesday it just bounces over into the 4600s and then pulls back and closes at any point near term i'd say 45 68 45 70 underneath that says uh oh be a little careful but definitely the 45 uh 46 42 area that's just absolutely key support QQQ still showing some strength i didn't even have a chance today to go through the different stocks but QQQ is 38246 down 180 i suspect there will be a popular late d next week and that's the reason until we get there in the queues i've got to be a little careful about wanting to think short just yet so that's a little bit closer in the in the kudo below 82 certain below 81 says uh oh now we're in for a little bit of a pullback have a wonderful day stay tuned for larry the fingers from steve