 The following is a presentation of TFNN Trade what you see With Larry Pezzavento Call now toll free at 1-877-927-6648 or internationally at 727-873-7618 Now Larry Pezzavento Okay, looking good Billy Ray feeling good Lewis. Let's get this show on the road We're going to take a look at the German Dax here as you can see here This is a four-hour chart going back to late March a beautiful three-drive to a top pattern You can see the time between the first high the middle high and the third high all right in perfect That makes it a perfect ABCD had a nice little correction coming down from the 78 percent level And we're going to see if it's going to hold up here if it's not so we'll be able to see what's that just remember folks Tomorrow is the most famous day in all of Arizona and that is your one day away from Cinco de Mayo today and believe me this used to be a rock-and-roll place Being right on the Mexican border, but by golly. They're not being much going on right now They're having specials that they'll deliver the margaritas to your house if you want, but Fortunately, we don't we don't partake in that live asian, but we'll see what's going on here now Let's just get on to the next one, which is the footsie. We want to congratulate mr. Boris Johnson on the arrival of his new Offspring his little son and he named it after his doctors, which is nice It's a good things his doctors weren't named Carol Sally and Louise. Otherwise he would have a Problem like Johnny cash he had a girl named Sue, but he's going to do okay Anyway, do you see this pretty much the same pattern here in the footsie, but it's also much weaker You could see it could barely make, you know, the 50% level from way back in March and it only made a 61% retracement from the high that it made in Early March, so those are just a few things that we're watching here to see what's going on By the way, that is that that corona beer here my neighbor Fred he I go to a Costco for him and he wanted to buy some beer and he just said buy the Costco beer and they were out of Costco beer So a coronal, which is a premium beer was selling at a huge discount and the young man there told me he says we can't give This stuff away evidently that the thought of the corona virus and the corona beer were Interlinked forever, but we'll see what's going on here Okay, folks the main thing that happened last week, of course was the fact that we made that 61% retracement In the s&p 500 up there. We also made a perfect 78% retracement in the NASDAQ Just absolutely spot-on it couldn't have been any better. I'll get this up here so you folks can Hopefully we'll take a look at it here Yes, sir. We can here. We'll get it up here. You'll see here. Where we go All right eight seven seven nine two seven six six four eight if you need to call in Alice says the lines are really jammed up right now, but if you keep trying you'll probably get through You'll see here. We did make that we had the big gap down and we're gonna gap down a little bit today But not very much we got down substantially last night early We were down about 50 handles at one time and then we rallied back and we still haven't Retrace the whole gap. So if we can if we can get into that gap area, which is around 2812 That would be a sign and folks this thing is just flat out bearish I'm I hate to tell you this but this is a really very scenario that we're looking at here The only thing it's going to change it is if we reverse here today or tomorrow and go back and Take out those highs and then Then that would mean something but right now G This looks really bad and if you look at, you know, some of the other indices, you know That really help things moving along and that is the you know things like the transportation index and stuff like that Look at the look at the Dow Jones Transportation folks how bearish it is and then you wonder you hear something when you come in on Sunday night Right after the Berkshire Hathaway meeting They understood that mr. Berkshire himself Warren Buffett had decided to sell all of his airline stocks And he told everybody that after the markets closed on Friday and someone emailed me over the weekend It says why didn't mr. Buffett tell us he was going to sell those shares ahead of time And I thought about that for a minute say how well how do I answer that and then I finally answered and says he Probably didn't want you to know that he was going to sell him. Hmm. What a strange phenomenon The one thing about mr. Buffett and Charlie Munger folks those dudes are really savvy individuals They know how to make a buck And they've been doing it for years and years. So you don't want to fade, you know, Warren Buffett I followed his career for many years even when before he was famous because back in days of Early days at Drexel there were quite a few Drexel customers that bought into Berkshire Hathaway I wasn't smart enough to do that But and so I followed what they did and one of my favorites is a few years ago This is going back to 20 years or more silver was trading at 14 And mr. Buffett came out and said that Berkshire Hathaway owned 20% of all the above ground silver in the world I don't think that was true But that's what he said and then when his report came out in the following month for Berkshire Hathaway Guess how much silver mr. Buffett had you're right It topped on the day that he said it and it dropped about $5 an ounce back down to about $8 as I recall But you know, they use this to move their positions and they have to because that's just The way that the way things go Carl icon is a master of that And some of these other guys are too. So be careful when you hear what they're doing Do you remember folks? Just this was the most classic of all was in 2008 when oil was a hundred and forty four dollars a barrel and Goldman Sachs came out with their report of $200 a barrel oil. Oh, no, I mean within 24 hours of the high and it had a sell-off it went from 144 all the way down to six dollars minus 37 dollars a barrel. So it's not what you read It's what you see trade what you see not what you think not what you read not what you hear You know, see what it's doing and doing that market feedback is very very important and in regarding market feedback folks We had a tremendous market feedback last Thursday when we had all of these numbers come out for Let me get this up here to take a look at it. All of these numbers came out in the for the Facebook Amazon Google Microsoft all of them were up 10% or more Aftermarket on on that Wednesday and then on Thursday the market atop Wednesday night late And then on Thursday the market couldn't even open higher and then you see it gaps down here on Friday and now we've got that gap there at That if the gap down today, there'll be another gap if that doesn't feel then you're telling it The market has given you feedback information that yes, we want to go a little bit lower So we'll see that the fact that we gapped below 2800 last night to me was very very important We went back and tagged that area several times, but there should be really strong resistance at 2815 in the S&P here today because we think we're in the midst of a three to five day minimum three to five day move And if you remember we had Tim bossed on Friday and Tim just about guaranteed us that on May the 11th coming up here at a week from Today we're probably going to be looking at something showing the markets going to be down around 26 and change in this So that's another thing that we want to pay a close attention to Okay, all right, let's move on to the next one here. We've got a break coming up I don't know about the main thing. Oh, let's move on here Take it a little break. 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Don't miss out on the tfnn Tiger's Den open house taking place now sign up today Call now toll-free at 1-877-927-6648 internationally at 727-873-7618 Back folks said I'm gonna talk to you just a little bit about the gold market here This is a four-hour chart going back at the last six weeks Just want to point out some of the harmony that's here in the gold and this is one of the reasons why I don't Count Elliot waves. I've always had a difficulty and John Hill who taught me that stuff way back in 1970 and 71 also had a difficult time counting the waves. I know guys have these wonderful counts and I don't understand them They don't make any sense to me, but this makes sense to me Look at the bottom that we made down there at 1440 folks We have a huge rally up then we have a beautiful ABCD pattern coming down But what I want to point out to you on this is look at the time down in the correction from the top down to that correction down at 1580 That was exactly the same amount of time 36 240 minute bars now if you go to the high that it made up there at 1788 Look at the number of bars to the next low 36 240 minute bars it makes a high again at 1762 at the 78 percent retracement and again the low that we made on Friday was within two bars of the 36 bars of four minutes for our charts So this is telling you that this has a lot of harmony in this and it was a buy down there a Friday at 1678 we pointed that out in the video and now we're having this rally and if it's bearish this rally is not going to extend past 1730 right now we're trading around 1710 1711 I believe But if we can get above 1730, then this has a possibility of finally breaking out to the upside The problem is we have two wicked steps steps sisters One is silver and the other is the is the gold platinum market both of those don't look very good And since we're talking about silver and gold. I wanted to bring this chart to you it was sent to me by Someone from the Elliott wave group and I just want to bring it up and show you the difference here That we're looking at here in silver and gold. This is the biggest discrepancy we've had in gold and silver in other words silver is trading around 15 gold's trading around $1,700. Okay. Now remember platinum used to trade at a thousand dollar premium to to the gold market a thousand dollar premium now it's a thousand dollar discount That's because you know, we're not using Combustion engine cars and from what they tell us now this coronavirus has a you know, really good a Really good side effect and that is that we're seeing, you know the smog clear up in many many places People are starving, but they still have clean air to breathe. So that's very very good personally folks Let's not Larry just stepped off his his Soul box for he's not going to talk about anything like that today. So let's move on to something that I Basically try to understand but sometimes I don't let's take one look at one other thing that I think it happened It is very very important to give me a second here I want to get this up here because it's related to the euro And we'll get it up here to take a quick look at it here And you'll be able to see that This is the euro on the daily. You'll notice on Friday. We made a 61 percent retracement of the secondary March high We've already backed off a hundred pips last night and if you took the time to look at the newsletter and compare the euro daily versus the You dollar index daily You'll see that the dollar index could not do that on the downside in other words It made a double bottom there when the euro was breaking out That was a divergence and that was nothing more than a you know a small Divergence where the euro was trading more actively than the overall dollar index, but the dollar index is 53 percent of the euro So what was happening is there were things in the yen and the pound the Australian and the Canadian were not doing things Very much. So that's what made that divergence The other thing that's important about that is I use time counts when I look at ABCD patterns If I have an AB if I have an AB pattern that has seven bars in it or you know, whatever the time frame is I want that CD to make it a you know make the same number of bars Now the difference is is that if you get to point C and it explodes out of there you can almost Absolutely hundred or not hundred percent. There's nothing hundred percent is to expect that that CD leg is going to be a big Big expansion of the AB leg it'll be one point two seven or one point six one eight I see there David has made some comments about the Star Wars movie that came out that didn't get very good reviews Believe it or not. I saw the original Star Wars movie and back over my guys back in the old Drexel days Mike milk and rented the whole theater there to let everybody see it So I'm just not into that sci-fi stuff and that's you might find that hard to believe since Gene Roddenberg He was one of my customers at Drexel, but I just just don't get it yet. I'm Really like the ancient aliens a history channel. I like to watch that stuff on the Geometry of the markets and our geometry of the earth and all that kind of stuff has always been very interesting to me Now I've had several questions about the corn market. I want to get this chart up to show you here folks This is a Weekly I know mr. Z is now is looking for buys and wheat corn and beans here is the long-term weekly price level going back a year Actually two years you can see that we have this giant ABCD pattern is completing down here and around Threat run around three dollars a bushel and I think that's going to be close I'm still waiting for the pattern I tried to nibble at it a little bit at 325 and Quickly they got me out of the farming business as fast as they possibly could Doing that but I think that we're getting close to some of these commodity prices Because they are very oversold and I want to just give you one other one here that looks really good because folks as You can just write this down. This is you see this ABCD pattern that we're seeing here in live cattle prices Well cattle prices are going to be going up and they're going to be going up a lot Because the boys have cut back production and they're getting rid of excess beef now So prices are really low But they take those cows take a long time to make baby cows And so it's going to be a while before it hits but when it does and when it does it's going to be pretty awesome So be very careful if you can put a little stakes or you know jobs or whatever you just put them in your freezer You'll save them for a rainy day because they are going to be a lot higher for sure Well, what we'll move on here. Yes, tofu is soybean meal Duffy and that also has gone up in price But the price of meal itself has been really smashed down We'll we'll bring that to your attention here, but it's been one of the things that is, you know drug the Soybean market down so much soybean oil is held up relatively well, which is basically cooking oil and paint but you'll notice here that the all the market on the Meal was really been hit really bad and meal is primarily, you know Feed for cattle and then tofu and all the other things that it's used for its pure protein The soybean is one of the most perfect plants It was brought to the United States by Henry Ford because he wanted to have an oil based paint So that he could add pigment to it and make cars that were other than black and that's how it all started And originally back in the old days and tear-hold Indiana when the farmers planted corn one year They would plant beans the next year and then they would till the beans right into the soil Because of the nitrogen because it was more important to get that nitrogen level up for the corn crop than it was for beans And then as the demand for bean with margarine you young people don't know this But when we first got margarine, it was always white the the Wisconsin, you know people the what do you call those dudes? that Politicians they made you add yellow dye to it in order to do that. Yep. That's it eight seven seven nine two seven six six Four eight, we'll be right back Larry Pezzavento watches the markets 24 seven and now is a great time to try out his daily trading service Fibonacci 24 seven Larry publishes videos and charts for subscribers throughout the week when warranted and every weekend He puts out a thorough report covering worldwide markets futures commodities and currencies with Fibonacci retracement levels possible trading setups and zones and stops and targets for all recommendations included Larry applies the principles He's developed over decades of trading while analyzing a variety of markets for subscribers To see for yourself the types of videos charts and analysis that Larry provides for his subscribers Sign up for Fibonacci 24 seven today by visiting the front page of TFNN comm under the newsletter tab You'll also gain instant access to Larry's archive subscriber webinar from earlier this year new subscribers get a 30-day Moneyback guarantee so you have nothing to risk sign up today If you're a trader in the market looking to find the path that leads to Maximizing profits while decreasing risk then now is a great time to try out Dave White's daily trading service The path of lease resistance through the use of options and equity trades Dave advises his subscribers on a daily basis of the current market conditions and what possible trade setups are on the horizon The path of lease resistance is published every trading morning often with updates intraday when initiating trades or closing out positions Dave White has advised his clients of some outstanding winning options and equity trades in recent months And now is a great time to try it out for yourself new subscribers to the path of lease resistance receive a 30-day Moneyback guarantee see for yourself the types of options and equity trades that are available by signing up for the path of lease Resistance today by visiting the front page of TFNN comm and selecting the newsletter tab sign up today TFNN is excited about our new software charting program the art of timing the trade charts in Collaboration with Tom O'Brien and using his best-selling book the art of timing the trade your ultimate trading mastery system David White has programmed an Outstanding piece of software that will complement any traders methodology using this first-of-its-kind program The art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including guard lease ABCs Butterflies and much more the art of timing the trade charts is designed to help you when scouring the markets for stocks Just beginning to form the trading patterns that many investors spend days weeks or even months Searching to find and right now we're offering licenses available at only $79 a month we are so confident that you're gonna love this new charting software that will even give you a 30-day Unconditional money back 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 comm 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 comm Okay, folks. I wanted to talk a little bit more about the This soybean all thing because David is correcting me saying that that's not true that you could get cars that were Other colors early. That's that's true because they were made with lacquer Which is nothing more than ground-up insects as I recall, but when I was in graduate school Which hasn't been too long ago. Maybe three or four years You know, I remember listening to this more than once About Ford and the soybean plants and because I was living in the soybean country It had a little bit of interest to me, but I guess I'm wrong So we'll see I remember that they wanted it They wanted soybean oil because it was cheaper and you could here They were starting to make a lot of cars back in the late 30s and that's when they needed the coloring So I don't know if that's true or not But that's what I remember and I'm sticking to it and I'm probably wrong again But that's neither here nor there Hold on one second questions question is when do I throw in the towel? But this is not a new bull market when it makes a new high when it makes a new high the towel goes in and that's pretty much it So that's the way I see it. I don't know. I'm just a little country boy, you know, just trying to look at patterns That's all I'm looking at I stay away from that new stuff. I'll tell you the more I see of it It's just absolutely sickening what happens with the news I mean, it's not only that but it's here the only country where you get news It's really fair is in Singapore because if you publish fake news over there You get $10,000 fine in a year in jail boom done You know why they don't have drugs in China folks as you walk into China There's a big sign up there like we see welcome to the United States of America This one says you sell drugs here. You die. It's an automatic death penalty that really cuts back on the drug usage So we'll see by the way, this is the Out of the last 11 days, there's been one death in Hong Kong. That means a total of six people Of six 7.2 million people six people have died of the coronavirus. This is the same virus That has shut down the world's economy Think about that for a minute. I am a little suspect. Well, see I'm guess my old My old what do you call this thing? My defense mechanisms are kicking in the old conspiracy theory stuff So we'll be able to see what's moving on here Okay. Alrighty, let's move on here and see what's we're doing. We just sold off about the 10 points in the s&p See we got the gold up at 17 14 The bonds are still looking weaker and weaker folks I believe that's going to be the next big surprise in the markets And believe me all I'm looking at here is when I watch these These longer term patterns and stuff. I'm trying to find the ones that You know, at least give me a pretty good spot to uh Now I can't get the thing to move up and down to get my charts. Oh good shot. Larry. This is not good Oh, this is not good Shucks. All right. Let me try one more time to get the bond up here and I'll be all right Hold on. This is one say. Hey, we're gonna get it. We're gonna get it. We're gonna get it. There we go This is what I think is important in the bonds again. This is just this is just patterns folks You'll bring us over here. You'll be able to see this We're up with the 61 retracement again We have been here for two months folks until we get above close above that 183 level It looks to me like the movement in the bonds as to the downside I know that's hard to think that we could possibly have higher interest rates But that in in fact is what we could be looking at. I'm not sure But that's that's neither here nor there The one other one that I wanted to mention here I wanted to get this to your attention because I think it's really important here Is that fact that we have had such a little action In the transportation index and stuff like that that's very very bearish to the market because that's how Stuff is moving, but you know, we'll just follow one thing at a time. That's what we're watching Now I wanted to spend just a tiny bit of time here in the dollar index because I sent out a video and I had several questions about it I might we'll answer them right now and this is the This is the daily chart of the dollar index and I want you to look at the Time from around the 30th of march. You'll notice the market rallies up six days. It comes down six days It rallies up seven days. It comes down seven days Folks when you start to see sequences like that, they repeat over and over again. Remember in dr. Andrew Lowe's book He says the reason why these patterns work is they repeat With the regularity and they are predictable within limits, which proves that the market is not only, you know, uh, non-random Okay, and it is chaotic But within that chaos or non-random patterns and that's what you're looking for is to find those non-random patterns Look at the look at the thunderbolt a b c d there that's in the middle of between january and march All you have to do Is to count from the low to the high of the ab leg and then count the low the high of the c d leg And you're going to see the g What's it went up 18 days and it came down 18 days 16 days So that's uh, that's what you're trying to do is to find some symmetry there that makes the market look like That's what it really wants to do. That's the whole key to Seeing what we're watching here. Someone's asked a question about the copper Copper is held up relatively well During this whole thing we had a one heck of a rally in copper And I believe if we'll just get this up here I got to move over to the futures for just a second and we'll get the old copper up here. Here we come And you'll see that we are still trading up. We're under that 240. Oh shut the front door and raise the rent something just happened and Give me a second here. I hit the wrong button boy. That was a disaster All right We see we went up to that 382 retracement now. This is a weekly So it's taken six weeks for the market to make a 382 retracement there At 242 if we can get copper above 245 Then yes, it could probably have more of a move to the downside to the upside But right now I have to be the copper tells me that we still should be bearish And we want to be able to watch that as we as we look at some of these things unfold here today. So let's be careful Oh, David's saying something here Oh, it's about Jesse Livermore. That that's a book that everybody should read reminiscences of a stock operator. My goodness I can you know, you know that book. I mean I've been doing this for 60 years that book says sets next to me every day I refer to it all the time. I mean, it's just amazing all the stuff that's in there I mean, it's just Incredible what the guy really did, you know, and this is Really, really amazing stuff. All right, now they're chatting about natural gas here in the market I believe we started that probably a pretty good bullish move here natural gas. I know it's moving up pretty good today uh, which is in Opposite of what other some of these other commodities are doing so I believe when we get to that 215 level that's going to be a really key level to watch because that'll be the determining factor now Remember when we got to one one point seven five that was a one three five pattern Just absolutely perfect. You had a point one down in late march Point two a little higher in on april the 17th and then on May the excuse me on april the 27th. You had another higher high Exactly at the 61 percent retracement to the tick at 174 And boom now we're making that abcd to the upside that should come in around 2.15 is what I would think so those are the things that Natural gas is pointing to now there was a cycles seminar over the weekend And when we come back from the break, I'm going to review Some of the things that they talked about it was very well attended. There were some Quite a few people in that and that was just on the first day Plus it was being you know archives So if you wanted to see it all you have to do is to contact andy pancoli And he can certainly tell you how to get to it It's just a cycles research.com or something like that is a place to do it eight seven seven nine two seven six six four eight If you're in the cd market and looking for a secure investment The tiger first mortgage program may work for you The security for these first mortgages are building lots in the tax opportunity zone in st. 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If you would like more information about the tiger first mortgage program, you can call me at eight seven seven five one eight 9190 that's eight seven seven five one eight nine one nine zero The gold market has taken off top side in a large way in 2020 If you want to take advantage of this sector now is the time to subscribe to my gold report The gold report took profits in four of its equities in the gold portfolio in the first week of january for a combined profit of 99.2 With two positions left in the portfolio that have a profit of 67.5 as of january 7th The gold report is a comprehensive look at the metals sector as well as the markets that move gold Which is the currency and bond markets new subscribers get a 30 day money back guarantee So you have nothing to lose every monday morning I published a gold report with coverage of gold silver bonds the xa u h ui gdx as well as more than 30 different mining equities To see for yourself the types of profitable trades that are recommended within the gold report sign up now by visiting tfnn.com Don't miss out on the next great gold trade sign up today Fill the s and p 500 continue to climb for bold trades on us large cap stocks in either direction trade spxl sp u u or s p x s Directions daily s and p 500 bull and bear leveraged etf's Direction leveraged etf's an investor 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 8664767523 or visit direction investments dot 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 possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor foreside fund services llc The bull bear trading hour with tom and tommy o brian next Okay, folks. I posted the long-term cycles from china that the foundation talked about saturday in their webinar They also brought an interesting one up which is the virus cycles because uh, we see these all the time They're not in the news unless we shut down the nations like we've done here But you can see here since 16 18 that we've had, you know, many of these Pandemics that have happened to us, but nothing where they've shut everything down like that we've done now that that That to me is just totally unbelievable here that we could see something like that happen you know every day in the united states 7500 people die And unfortunately, that's all part of the old life and death cycle Nothing you can do about that boys and girls the old man with the sickle is always standing behind you It's just a question of when god spins that roulette wheel Whenever she's your number come up then she tells the guy take it out And that's what you move on to the next stage of your existence whatever that might be And if you want to know what that is send me some cash It's at 5 5 5 5 5 5 5 and use the promo code 1 2 3 4 All right, let's move on here to the other thing that I wanted to mention here This is the the virus cycles over the last 60 years These are the ones that we're mainly familiar with the Hong Kong flu age sars and now COVID-19 so those are You're just a few other we did all kinds of cycle work in there folks They had some incredible stuff if you do have an interest in it We're going to have Andy on again on thursday because he does his own stuff related to the market And he's very very adept I happen to know him through one of my very dear friends who Got me interested in this or I got him interested in it and he's taken it to a totally different level But this will be really good to see what's going on Remember folks the federal reserve can do anything they want when you look at your bills And you know your your dollar bills 5s 10s It doesn't say united states of america says federal reserve note And it doesn't say in god we trust it now says in god we trust it So let's see what happens. I don't know what's going to happen if they keep putting out money like this It's not going to be very very pretty I did want to spend just a tiny little bit of time here on this uh long term weekly continuation chart In the crb index, let's get this up move up here. You'll be able to see it. Here we are You'll see we're sitting there at a possible double bottom here between march and may here In the commodity index. I'm really watching that one closely because if we go below that three 300 level that means we've got massive deflation and that is not going to be very good probably You know after we get through this next two weeks to see how these Different states open up and if the death rate isn't too bad They'll probably start moving towards a normal see where we do herding or whatever that is to get everybody to be careful now I know people at my age are the most uh to worry about And uh our young our neighbor across the street who's 94 years old is absolutely scared to death of it She actually had her daughter come down from new mexico to take care of her because she was so afraid of catching the virus and I Told her the first thing you do is to start watching roger ramjet or The three stooges on the tube instead of watching the news because that's what they're doing is there's instilling fear In people everywhere and that is not a good thing. I thought it was very nice that ex-president bush came out and You know talked about we're all in this together. We all should try to work together. Well, good luck with that That's not worked very much because people have different opinions and when people have different opinions That's when the process lies I I saw one of the guys saying this was the greatest thing to happen to the united states and the rest of the world was coronavirus Because you could see the clear air and be Beijing You could see the clear air in hong kong and new york and all the other places and in the Los angeles. Well folks, uh, I know that the small can be bagged bad in some of those places, but I'll tell you this they've heard a lot of people shutting down all these businesses these little mom and pop places that probably never re-open And um, we'll see what happens. So I don't know that's my 10 four Anyway, I appreciate all the calls coming in today. Hope I answered all your questions We had one other thing that when I wanted to mention to you is we're going to have dr. David paul on tomorrow He's the one to help get tom hugard to where he is and then on Wednesday we're going to have storm and norman from the winski group down there at astro trends And on thursday, we're going to have andy bakoli from cycles research over in Asant cycles research, but he'll be on and then we'll be able to have a free day on friday, which will be Thank god, it's friday. Hopefully we all be able to go out to a restaurant Pretty soon and we'll move on to that level. I need to check to see what the markets are doing right now folks I wanted to see how we're handing up in here Okay, there we are. Okay. All right Watch that watch the price of 28 20 folks in the s&p because if we should close above that That would be a very very positive sign because that would be nothing more than a 382 correction Excuse me a three-day correction But I don't know if we can do that or not But if we're able to do that that would be a pretty bullish thing You know in in my opinion. So that's it In order for gold to be bullish folks, it's got to get about 17 27 That was a second question someone asked me here this morning. So that's another one that we needed to You know pay sort of close attention to To see what that's going to do. But right now we got the s&p's down about look like down about 30 handles We just dropped about well, we went from 06 all the way down to 86 89 In a matter of a few heart beats and now we're backing and filling here And keep an eye on it because remember that first hour and a half of the day Folks is what we call amateur hour. That's when all the orders come in And sometimes they're right sometimes they're wrong but sort of pay attention to it because it's another part of market feedback that you get that is You know pretty important at least from a technical standpoint as we as we look at some of these things Because the crude oil market folks, uh, I have spent a lot of time on that crude oil market because You know, we have broken down through levels that we've not seen before And I think that the crude oil market is going to be in a situation where we Are going to be looking at some really interesting patterns here And we'll bring this up to you because this is the one i'm watching for today if we do get there Today or tomorrow watch this one. You notice this is the this is the spot crude. We're now looking at the june contract You can't trade june. You have to trade june and july are off limits for trading but you can trade august Which is pretty good and december has got very very heavy open interest So december 2020 crude is tradable, but they all have the same pattern You can see the 135 pattern with the big gap down Then we had to rally up at 0.3. That's another big move down And then we had to rally up now coming in another two and a half dollars A barrel higher In that would be in the you'll be watching the august or the december if you get that You'll be watching that very very closely. So watch a two and a half dollar rally in oil And it could be very quick. In other words, it could be that yes, the Saudis and the russians have kissed and made up and Tesla's decided not to build any more cars without electricity and then maybe it'll rally I don't know. It's just a nice pattern pay attention to it You know, they don't always work, but when they do it sometimes can be very nice Whoever thought that we would see crude oil under The price of zero at 37 dollars minus a barrel that that was an aberration And that won't happen again most probably because the merc does not want to have that bad Stigma on them. So that's it 877-927-6648 I'm certain you are or strive to be one of the best of the best Everything you do in life. 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This is a great time to see the type of analysis Basil Chapman delivers for his subscribers every market day with the opening call newsletter Basil has been analyzing markets providing his take for subscribers to his trading services Since 1984 every morning Basil publishes an update for his subscribers Along with weekend and evening updates when warranted the opening call provides traders a Daily market overview with regard to the direction of the key indices selective stocks and commodities Along with specific recommendations including stops and targets You also gain instant access to basil subscriber webinar archive from earlier this year a dark Cloud cover an essential market analysis ride the Chapman wave today by signing up for the opening call newsletter on the front page of tfn.com under the newsletter tab new subscribers get a 30 day money back guarantee so you have nothing to risk sign up today 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 tfn.com okay bear with me here one second folks we had a question about the natural gas and I wanted to update it so you'll be able to see it here we come and you'll be able to see what I was talking about here with those higher bottoms in here that makes that 135 pattern very nice and you know you can see the 61 percent retracement there at 174 that gives the price objective folks of 2.15 and so this could be the start of a major bull market if you look at this really closely folks if you look at the low on the 23rd of March that's the head go back to the low in February that's the left shoulder you notice the right shoulder came in here at 175 at the exact same price that that actually sets up a perfect head and shoulders pattern because the left shoulder and the right shoulder should be equal and if it's really bullish the right shoulder be a little bit higher than the left shoulder this time they're perfectly equal and that tells us that we're most probably getting ready to head to that 2.15 level because that is a perfect head and shoulders pattern as defined by Dr. Andrew Low in his book the non-random walk down Wall Street it has more formulas in it than there are at NASA but just be a little pragmatic about it and remember you'll be able to figure out how to do this remember Lenin and McCartney could not read music and yet they're probably the greatest duo of song writers in the history of the music but they could not read music just because they couldn't do it didn't mean they understand it so that's what you try to do keep your risks as small as possible and that's what the patterns do for you they are predictable within limits but they certainly don't work all the time and you have to take the responsibility you know for doing these as we do them so we're going to take a little break here until tomorrow coming up to the end of the show today and we'll have Dr. David Paul on tomorrow and of course Norm on Wednesday and Andy Piccoli from UK on Thursday and maybe we'll have a surprise guest on Friday I'll be working on that so live every day in an attitude of gratitude and may God bless folks and always try to do something for someone who has a lot less than you because there's a lot of folks out there that are flat out hurting may God bless