 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. This is the Tiger Technicians Hour and it's very interesting to see that the Dow is ready to 100 points off the Nike's earnings outlook but I did have a Chapman Wave Tringage reading from Tuesday that said the high readings should see some kind of a rebound in the E-minis and that's what we got for Thursday and then Thursday at a very low Chapman Wave Tringage reading which suggested that even if the the Dow futures were up pre-market they're actually down the Dow cash itself should go negative before the Tempser rally which is exactly what happened. Now the new part of the day is beginning this is from about 10.20 this morning till about today because it's a day before a long week and I'd say all the way to about 12.40 and then there's a whole new section that comes in going into the 2.50 about 10.03 in the afternoon Eastern time to the close. So we're watching this very close and there are a couple of things that I want to go through right now but first let me just do this thousand ninety three thirty seven thousand four ninety seven hasn't yet taken out the high of Wednesday Thursday Friday Wednesday at thirty seven thousand six forty one the S&P same thing the S&P is up strongly it's up 20 at forty seven sixty seven hasn't taken out the high I forgot I think I might have typed it in then I erased it so the high was four seven seven eight oh one and just type that in four seven seven eight what did I say 0.1 I think I said that okay four seven seven eight four four seven oh yeah yeah it's one of those days I've just been charting away since earlier soon before six o'clock four seven seven eight point oh one four seven seven eight that's all I needed all right there we go and all right so that's a very nice rebound from that very ugly Wednesday and today's high so far is four seven seven two point nine four system in my head just two seconds it could do that hasn't done it yet I'm going to talk about this because the weekly charts going to close four o'clock today not too much can happen famous last words between how and four o'clock with a single leg eight to the upside and I have to call today and everything this is and I did this in my webinar and that webinar is up it's archived so if you thinking of buying my service the opening call my daily newsletter you'll get this that archive it's actually an archive that I told everyone I'm going to do it almost in two parts I'm doing the one part on Wednesday and Saturday and usually the weekend I do about an hour long video overview where we are what we're looking at I talk about stocks stocks we might not even buy but because I do the analysis some subscribers say hey that's what I'm looking for I like it and I'll do my own analysis and that gives me some impetus to either buy it or not buy it whatever it is so within that context is a very fascinating because we were looking at weekly charts to tell us and it's because it's not a hundred percent certain whether this is an extension of the previous buy mode and it's just an aberrational very strong leg to the upside which will give back a big chunk so for all I can say is the stochastic in the weekly chart of the S&P is at 90 this is technical Friday so I'm getting very technical here is at 98.36% and flat as long as it holds there and you can see that when the stochastic goes above 80% like it did back in April it can stay there all the way until it goes negative which was right here in August so here we are even higher the unbalanced volume saying oh man you are so overlating whatever you're so overboard you have to have a pullback but all that happens with the on balance volume is that when it pulls back it doesn't give you a degree for instance here is the SMH is this the SMH and I had that really great signal from 175.86 and that was on the December the 18th no 15th 15th but it coincided exactly right there exactly with an unbalanced volume overbought level so we were very fortunate a couple of days later we bought the SOXS three times short and it was a huge the same day there was a huge turn down and that was a clue that the others were making new highs and the estimators were stalling and we took our profits now we're out and we're waiting to see what happens next but you can see what happened with the unbalanced volume it did turn down then it retested and then it turned down again and now it's back up so that's what happens it's it's the way you use these technical indicators so I in my in my in my webinar I discussed them I'm gonna go through that again in a moment so the estimators are up 70 cents at 174.04 very nice now this looks to me more like a peak leg beam maybe a peak beef there's no new recovery high today in the weekly chart and that says let's just say that this is now a B that means all of next week they can go to a higher high above 175.86 is the estimators the semiconductor index very important because that to me is one of the benchmarks a focal point for general market trends now what we're looking at is so that will take us to leg C then you have to wait the full next week to see if there's a lower high to make a peak C then the following week you can get to leg D and then the following week takes you to almost the end of January would be a D and that's where you gotta be careful wait a minute this is leg C in the monthly chart that means that if all of January you've got to take out whatever the high is in December by one penny and that extends leg C it means you can't make a peak C till the following month okay that's February that means you can't make a leg D until the following month that's March that means you can't make a peak D until May so all of this says to me this is a very positive time it has no it has no insinuation of how deep any pullbacks could be that is something else you have to work on so let me just finish this up here because it's very important that I go through all the different indices look at the QQQ trading up 1.94 at 4 9.69 4 1097 was the high of three days ago if it breaks that then there's an alternate count that actually becomes a G slash B that says you've broken out for H 71 was the all-time high we're in your high territory that's only a leg B that means you can't get a peak D until well into the second quarter of 2024 so as I say none of this tells you how deep correction you could have I've got other technical indicators that do that but not the ones I'm talking about right now you're looking at the IWM and this is very exciting because now we've got the the Russell 2000s 2000 small caps remember IWB is the Russell 1000 and a big D pulls back hasn't taken out the higher three days ago four days ago is a 262.3 up a dollar 23 this is already a leg D in the monthly charge isn't that interesting and it's underneath the peak B the all-time high that was made established I believe it was January of 2022 I don't think we need to talk about that I'll be back in a moment if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30-day money-back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN.com TFNN educating investors everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the Fibonacci 24-7 newsletter at TFNN.com when you subscribe you'll get a weekly report from veteran day trader Larry 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equities with specific buy-sell recommendations the gold report new subscribers get a 30-day money-back guarantee so you have nothing to risk subscribe to Tom O'Brien's gold report newsletter now at TFNN.com TFNN has launched the Tigers in hosted at discord TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours the Tigers stand available to all Tigers and Tigris is for just $1 for the year there's no cash or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of TFNN.com toll-free at 1-877-927-6648 internationally at 727-873-7618 just go through this remember yesterday this time I said I and the in the 10-minute e-mini chart is the March e-mini futures I said I'm going to take this ugly candle right here the high of this candle that was made at 3 o'clock on the 20th of December on that big cascade down from peak C1 C2 double top and 10-minute charge was a peak I think it was a peak D in the 5-minute charge gave really nice signals well that big cascade had a high of 49 4798 on the candle that I picked I chose and one of the reasons is when you see sell-offs in the e-mini what's interesting is the big sell-offs have candles that are big red and they follow one another one two three they keep going down and then when they stole they stole for maybe two or two a steam maximum 10-minute bars and then if they take out that left side low they go you like a dreaded H it goes even lower so I chose this particular level and I said this is not exactly in the rectangle formation which was down to the low right there says a little lopsided but that's not the point the point is I have to choose and we were at time in the morning we were right here we were chopping around here with a little double top and I said I'm making this 47 98 level the dash midpoint and really it's a midpoint to the level that really was the basic level over this it looks almost that's much better looking was lopsided so look what happened they try to get there try to get there eight o'clock nine o'clock ten o'clock fail-fail pull back to the 47 under 47 60 and then we would peak ABC where did D go right at four o'clock triple a double top right there at 47 yeah 47 98 then it pulled back to the 200 period okay important the 200 period you just have to put it there you don't have to deal with it till it gets comes into focus the closer it gets into focus pin it acts like a magnet who grabs the price then the price is to force itself away either up or down from that level and it can take a while when it did it made a beautiful cup formation and then as the news came out at 8th it is the ball that said oh is that good is that bad turned out to be good and it popped up and it went where to it went to the upper part of this is the double top area at 1110 on Wednesday which had a higher 48 30 and the height today so far is 48 21 trying to get there and now it's digesting the gains but what I said in the den before we got there I said is this 48 47 89 did I say yeah 47 89 level gonna be a support level it's been a repellent but will it become a magnet and then a support level so far that's the support level and going into Sunday Sunday night Monday in the I think internationally most markets are closed usually what happens is on the holiday like a July 4th other countries open and the E mini is training sometimes a fun day just to relax and do some training low volume and but here we are so that 4800 to 47 98 level that magnet that support level will it become a magnet over the weekend going into Tuesday or gonna push further away from it for the rest of the day so that's the question and we will go away from it if after 130 I say cottage to 2 if the many which is up 19 it goes to about up 25 instead of pulling back and coming back down to a like a plus 8 so that's really what you're looking for yeah like pretty much like trading today now let's go so did that wrong and here we go back to our story and this is what I want you to do today a bunch of things we're looking at here we go so we've got the IWB much stronger all-time highs a few days ago not all-time highs under the all-time high but in a yearly high and not only that the I call this to 266.89 to 267.30 this is a typical Chapman wave 2 bar reversal there's a Chapman Roman candle right there and we went down down down it took three days because it's a monthly chart but each one of those days made a lower low than the original low of the wick and that was important and then it plummeted and that's a little bit like the S&P did back in October of 2007 so that's it pull back pull back and it goes for the 267 level 267.30 I might as well type that in since I'm going to be talking about it often to 267.13 okay that was the high January I believe of 2022 plummets down to the 190s comes right back now this is important remember this is exactly the example that I said it was a possibility with the S&P it failed at a peak B especially monthly charts hardly ever do you get a monthly chart that's going to fail at a peak B and not make a new high to leg C and then a D unless and this is rare underneath it you have a different count because it starts a brand new buy signal that gets upgraded to a buy mode look at this stochastic it went over 80% right now it's under it's at 78 but if you get a peak D underneath that previous peak B all-time high it negates this B that becomes your new benchmark so this is really important right now because if by if by one penny it breaks above 267.13 in our back of the mind you can say oh then how you finally got your leg C but in reality it's a leg D this is your new if it takes out that 267.13 that's your new benchmark because it's in a new buy mode right it's way ahead of some of the others look at the IWM IWM hasn't even taken out it's just testing the highs for the last year and a half right so this is the start that's what I was saying that's what the whole webinar was about I'll be going to see a pullback and in that pullback the IWM actually holds really well but the big caps like the Microsoft's etc they come back quite sharply I want to see in this pull back that's coming up whenever it is in the next couple of weeks I want to see the financials holding as well as the iShares if they both gonna hold up well that just gives us a lead to say when the next big buy signal comes in for the for the first within the first three months of 2024 this should be the participants that actually begin to lead while the big caps and the former big leaders do rally they don't fail but they don't rally at the same degree a same percentage all right I want to get that out the way I want to finish up gold saying gold is up sharply of 24 pullback a little bit from the entry day high of 2083 still fabulous 2075 it's trying to fill if we can get into see now the what was the chapter we've inverted Roman candle that we spoke about spoke about and was very negative but look how the 200 period moving active acted as moving average acted as support now this is a brand new for now I still have no choice but to call it a gray leg be yes I know for subscribers we are attempting to enter a gold position today one that for me is one of our followed for years and years and years South African stocks it if anything is going to happen in gold those stocks this particular sake a little conglomeration little mini ETF on its own or those known ETF that should really help that should benefit a lot and and then we'll just have to go from there even though the shorter term since the daily charts and some of these stocks are actually in D's and E's I'll be back down to 92 S&P's up to 20 currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe which is why it's a 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hit watch Tiger TV that's TFNN.com then hit watch Tiger TV so technical Friday so let's just do this a question came in another it's more statement than a question using the Chapman methodology I get a peak G where you get a peak E in the daily chart I understand that one of the reasons is you went to this peak D right here in October the pullback with the MACD with the stochastic said that in fact should be the starting point and then it goes to peak A peak B peak C now look at the distance in time which you have a little gray A there and then finally you make that what I call a leg B you call that the D and if you call that a D then it's an instant restart so you can go plus sign plus sign plus sign above plus sign below just to point it out or make a circle and then it goes E F and G so either way you get to the same thing that I got to where there are two doji candles and one is the silent doji candle right here the day off the high that was made in the hundred twenty three thirties and then you had the news related cascade so fortunately there's and it happens very often your count coincided exactly with what I had and the only reason why I chose to make that a peak F with a doji candle and a pullback even though the technology I'm going to do so I've done a lot of work on this over the years there are so many times usually this is not two peaks or in this case three peaks to the upside so that is that's E F but you would get it as a C right then that was a high the doji high right there over the years I found that if I get a low and this the and the next low after that is higher up and the technicals are strong that says that this actually is the starting point for what I did is I used the 200 period moving average as your magnet line and you can see how long it held there to say I was very comfortable saying that that's a peak F an extension because the nine-period moving average didn't close negatively and then I said okay now I can sort of brand you my mode but there's nothing wrong with account that you had and you still got to a top so that's your alternative that's where I put the alternative count I decided this particular case I wasn't going to could have been wrong but I was just basing it on the Georgia period moving average doji candle at a peak F which would have been an F C right and it took too long to get to that D now yes another rule of thumb since you're doing it if you get exactly what you had your F C or even quarter to C and then it takes a long time with a cup formation and finally you get to the D which is where this B is I couldn't tell you how many times I should I don't like doing all these studies because I do it visually I've got the back of my head my back of the back of the head it seems to me to work fine but it says to me that so many times I'm not talking about once or twice I'm just talking about so many times way over 60% I'm sure it's probably more like 70 when it has that kind of a cup formation and you get to what would have been a D and then an instant restart is very often within three bars it makes that new high after that P D when you've had a long hiatus before you get there it's almost like it confirms for you that there's a buy mode coming up so remember if you get your alternate count that would have been C F sash C in my case and then finally you get to the D after a decent pullback which you haven't taken out the low and you've made a cup formation all the technicals are confirming that D so often almost immediately becomes an instant restart and you can go higher but trouble is if you've got an instant restart that you would have gone D then E sash A F sash B and a G slash C and you would have been waiting for the D and then it cascaded a lot I hope I'm clear about that just when you get one just give me a young we'll talk about it on air in real time so the other way to look at it is also so where did it gap down to Nike we're talking about Nike Inc me share this is sport and sportswear it went right to the 200 prem moving average went under it to 100 in 107 45 area now it's trading at 108.69 and you see the weekly chart all the technicals here are good but you see how close we are in the nine-period moving average and this is what you have to see when you're getting a nine-period moving average let me show you as Nike there we are that's my daily chart the thick gray line is the price of whatever we're following in this case Nike look all the technicals are still fantastic it was incredible dive from the hundred and twenty what was it three or something yeah 123 30 area today's low is hundred and seven and yet it still hasn't gone pink that's the power of this nine-period moving average but that's also the problem because and I said I was telling a couple of people who asked me about that you can't just use this one indicator because it's in most of the time the 914 is a lagging is by its very nature supposed to be a lagging indicator very seldom when you get the exact high at the turning point of the exact low doesn't happen within a bar to maybe it can happen but on the day no the on balance volume does however look at this I would say that it's still going to go pink even if there's a bounce but this is different to you remember the the whole thing we spent time on but talking about my Chapman volume climax price climax and look at this look at the volume here the volume so far today that isn't even begun we're just over an hour into the session and you've already got 19 million and you had 16 million yesterday you had nine so it's going to be way over the 16 million because the days barely begun so what I'd be looking at is how does it respond over remember David you spoke about a three-day rule I have two or three rules that apply to huge gaps on the downside so the gap that has you're falling falling falling and then there's a gap down and it's ugly and then there's another gap and then there's bad news that comes out and everybody says I'm done with the stock and they throw every share that they've had out that's your volume climax when it's just a single day like this anything can happen now the rule of thumb will be for me doesn't matter where it closes that I'm just saying to you if by Tuesday Wednesday it can close above today's high of 110.80 I would say then it could fool some of the gap but it's going to the 200-period moving averages your magnet line it's going to keep coming back there for a while but if in fact it closes towards the low of the day then watch the low whatever the low is today so far it's a hundred and seven forty five if it takes it out and on Tuesday Wednesday it makes lower lows the resistance now of a hundred nine thirteen is that correct let me just double check of a hundred nine point twenty-two the 200-period moving average is powerful so I would I'd rather wait a little bit before I'm thinking of calls or puts anything at this particular point point why because I need the evidence but if you're looking out a little bit I would say from the speed of the decline there's every bit of chance that the hundred and pulls a little high 112 is a 20-period moving average in the weekly I would say that the hundred and ten to a hundred now 112 is fine the 112th area will be tested over the next few weeks but I'm right now I'm kind of nervous and I'm watching the SMH is very closely I think we're very talking the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market the US futures market and the Shanghai gold exchange the gold report Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU HUI GDX the dollar bonds the South African Rand as well as 25 different mining equities with specific buy-sell recommendations the gold report new subscribers get a 30-day money 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Let me just say this is where I would say to you in the chain weight methodology this is where it's really important to use certain indicators look the data chart data the one minute chart I always think of this as daily weekly monthly but it's one five and ten minute charts of the many and I always use this as kind of a benchmark of the technique in real time just this is what we're looking at so you can see it's been stuck in a trading band between about 4820 and 4048 14 so stuck in the one minute chart but that applies to the five minute chart and look the Mac these turn down stochastics now under 80% the on balance volume student down the little relative stress sign there is under it but that nine period moving averages that this is the indicator I call it the indicator of last resort is holding so well that it's how holding the price and look at the 10 minute chart is even stronger and the Mac D hasn't turned negative so that's how you can use different tools at different stages that's why I say I don't rely on one I do rely on one for immediate turns and that's how you use the on balance volume which I discussed in my webinar probably tomorrow in my overview I'll have to discuss it because it's going to become really important over the next few weeks in January so there is still a residual strength and that's kind of demonstrated by a couple of stocks and I'll just show you here right here with looking at look at Apple Apple is this gone sideways it's showing internal strength that it hasn't broken down but and I have a big question about this B I don't know what else I can call it but that's what it is right now I can't even and I had to give it an up arrow but that up arrow is really in fact I feel very strongly that I should take that away and put it in a plus sign because Apple's really struggling is holding but it's struggling and one of the reasons I say that is if there is a chapter we unconventional flat based restart and everything about it says that it keeps coming to the 187 level keeps no matter how high it goes it keeps pulling back it says that we can have flurries to the upside and at some point it's going to give way and this particular low right here is going to be tested right here that's the low of the 4th of December of 187 45 there it is seven points higher and it looks like what are you talking about seven points why would it suddenly dry I don't know I'm just saying but it's broken out to an all time high leg B in the monthly charge leg B in the in the weekly charge could be an alternate account I see no reason right now to anything else with 94% to casting and I'm not going to take the time now I will do some in my webinar in my video tomorrow I did discuss it before but I'll do so in my video overview tomorrow for subscribers discussing what are the what are the indicators that I'll be looking at over the next week or two to say that's it we've made some kind of a top the daily charts are going to really pull back sharply it'll impact the weekly charts some but then the weekly charts should regain their strength and push higher what would what would say that those weekly charts are starting to fail and I'll send you right now make it as simple as possible when the statistics over 80% that's what you want to see that's fantastic that's great that supports your bullish bias if that's what you've got not bearish bullish but when it starts to slip under 80% you've got to be careful look what happened here with that high from the August high at 198.2 three in apple it pulled back pretty sharply from the just under 200 to the 160s now it's come back and the stochastic is is as strong as it was and flat and that's important if it starts to go under 80% to the 78% area watch out that'll drag the price down so that's something to look at okay now I need to get to I had a question again follow through on your chapter we've Roman candle which I'd never heard of now you've introduced us to it for for about a year or so and I've been following it it's very interesting so Tom this is what I'm looking at look in UEC this is uranium core Iranian energy corporation I'd mentioned these and I'm going to expand this right now it's technical Friday so I'm getting a little technical here the reason why I was saying that I think uranium is on a much bigger move to the upside rather than just a short-term rally is because the strength of the monthly and weekly 9-period ruling averages magnate stochastic etc is so powerful that the bias should be and look we've got a chapter we've Roman candle from last week in the weekly chart so if we close anytime in the next it has to be soon so it has to be this week almost done so it's not going to do it today probably but by next week if there's a close above 6.86 on any day that's a big thing if there's a close at the end of the week that's really a big thing if there is a close back it doesn't have to be a close if there's a price pullback below 6.17 in the weekly chart that'll be in the any day it'll affect the weekly chart that's a negative thing but all of that short term now look at this he has your huge chapter we've Roman candle the day after the 6.86 it goes to 6.85 on the 13th of December huge and then the rule of thumb is if it can go halfway into the week for a shorter time period I said 90 minutes below 6.20 I think I said now 6.80 I can't remember must have been 6.16 or so and holes for 90 minutes watch out because a retest the bottom what it is it just briefly went under it opened higher plummeted to down this was a news this is earnings related and it then went right back to the top part of the candle another Roman candle but it's a green one same thing applies if in this case I think I said 6.28 no I said 6.26 so 6.26 look it hasn't done that but then it did that a few days ago but look what happened I've got a two day rule for this so it wasn't a two day rule now it has something else and says now it could go sideways in a rectangle formation if it takes and closes above that 6.86 level on a daily basis that is just showing tremendous strength yes sorry I should have mentioned we are long we are long from right over there 3.46 area I believe right there so and we've taken a little bit so now the big thing is why didn't I add to the position which I wanted to do over here because it was so close to to if it took out this low then I'm back where I'm starting even though it's past a two day rule so I just I needed now that yesterday's candle was great today was the day I should have said hey this is acting so well let's add a little bit we've got taken tads off and tomorrow in my webinar I'll talk about tads always I take a tad off it means if you've got a hundred of whatever it is a tad is like eight or ten because at some point we'll take two or three so now you've still got 70 percent of the trade you want to call position and then we deal with that and then I like to add back could I look at crisp so this is crisper in the whole biotech area CRSP I was don't forget I want to look at coin so coin is on my list for today yes so crisp yeah so this is of course I had a little notated but it asked my notation just because of the way when it shuts down without suddenly without actually a special save doesn't automatically say yeah I just think it's stuck it's turning at 63.40 I just say it's probably chapter between sixty six chapter between sixty seven and fifty eightish if it breaks eighty fifty eight on the downside of the test of children's period moving average right now I don't see tfnn has just launched their new trading room the tiger zen hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours and now they are expanding their reach with the tiger's den available to all tigers and tiger's for just one dollar for the year there's no catch or added costs when you join our community 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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 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 so we're looking at crisper but crisper i would say crisper therapeutics c rsp trading up 256 and 63 16 it's just kind of stuck in the range i by the way i'm looking at it i think it needs a couple of weeks and i wouldn't be surprised later in january if it holds the 50 support under any negative scenario it actually starts to get to 71 30 72 50 that area i think it's going to do very well going into end of january beginning of february but at this particular point i just think it's in the holding pattern now i just need to do this before we wrap up i want to wish everyone absolutely a merry a merry christmas just a wonderful long weekend if you're with family just enjoy your family have a good time the dollar has come back and has come back to the extent that this dash trend line is once again about to be tested so um that's allowing gold to move up not much else the way i'm looking at it is is positive for gold but this is really good thing for gold because the dollar's pulling back meantime we'll do more of this next week have a wonderful weekend say jim for steve rose merry christmas and check out my opening call plus my video and my way