 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. Good morning everyone Basil Chapman here on this Monday Monday the 22nd of January gosh the years flying by we're already into the third week of January thousand 14 to 38,075 so as we're looking at it right here you see this this rectangle is narrow rectangle right here that's been a body of the parameters very narrow actually parameters are really from I'd said from December the 15th that I don't see anything very negative we should see the the the dollar move up a little bit and yields should go higher but I don't see anything so drastic that I can in this particular chart right here if I've got the right one yep my dog news cloud index and within that context I said I'm just making this dog to say that these there are things out there but the normality of selling off remember all of these rectangles with the light-colored interior we saw the S&P futures just plummet went down 42 to 52 points the Dow went down at least 275 to 320 and then you've got the sell-off that kept going we haven't seen anything close to that we had one sell-off the other day and then intraday turned around and closed higher so that just says to me that and that's one of the reasons why we covered our shorts last week a small short positions and I we are looking mostly at long positions only at long positions right now one of the reasons is that there's this high-level consolidation that's what we're looking at right here and I'm not sure that I can still keep this dark news cloud cover I can't I said there's a chance that this was an internal high and a visibility high but not when the nine-period moving average just refuses to go down and cross the black 14-period moving average to go pink to the lines over the 14 looking quite good so I have to just say this is not in the cars right now what is in the cars is that this rotation could have a little bit of a stalling formation as news just every once in a while little negative news comes into one of the one of the sectors or stocks that are leading and what it does is it pulls back but as it's rotating look at this so you've got the Dow you got this rectangle formation right here you've broken to the upside all-time high you got the SN and look at this this is the 13th week it's not an f slash anymore this is absolutely in a right there I don't know what it'll take to pull back more than to the 36,500 the 14-period moving average from this level so this is still a leg 8 this is a look 1 2 3 4 5 6 7 8 9 9 higher highs and higher lows and then it goes into this wedge formation 10 11 12 it gets repelled at that tiny little rising trend line and boom today it breaks out that means for January we still got an egg C let's just say all of February there's no new all-time high that means you've got yourself a peak C that means you're gonna go to D leg D in March and then if that happens and you keep rotating up and down up and down April says your sees a peak D but wait a minute look what you've got here you've got the Dow in leg C you've got the S&P monthly in leg D right so we've already reached the buy mode obligation of getting to at least a D in the Chapman way methodology the fourth highest peak it's only a B in the weekly so you've got an A in the Dow you've got a B in the Dow futures in the weekly chart you've got a B lag B in the weekly chart of the S&P and look right here this upturned line that I draw in I said yeah I don't know if we're gonna get there 48 42.07 was the high on Friday now we're 48 68.41 so within this context very short term I can see some kind of an oversold over so overboard condition and that just says we can pull back into where we were maybe last week sometime let's go to the QQQ slightly different chart formation very strong leg C this was a leg B going to a peak B right here right there 41 2.92 this is a new buy signal to buy mode statistics at 89% on balance volume the blue line is a little overbought but it's still strong that D just crossed positive a couple of days ago leg C to the upside in the daily leg G Stash C I believe it's a C I'm not going to make a G Stash C I'm making it a C and the reason why I always get questions from people who are not conversed with actually notating the chat wave they've listened to me but they aren't notating is that the reason why I have an alternate count is in this particular instance because the 9B moving average cost so quickly to the upside and the MACD and the stochastic all gave really nice signals as if it could have been a brand new buy mode but I had to wait for a breakout to an all-time high about 48 48.71 in the QQQ well of course 48 we're now at 423 pretty decent move to the upside let's go back to our indexes we're looking at the IWM I IWM got a brand new gray leg A great because the stochastic is only a 21 on balance volume is still kind of weak MACD is very weak 9 periods still weak under the 14 so this is it's a work in progress but it hasn't really broken out so I'm giving it all of I'm giving it six weeks all of February if there is a close at any point in the 208 area it's at 196 right now a close that is in the 208 area then I would say you've got a potential cup formation and the 244.46 high of November is in the cause right now it's just a work in progress but if you remember I was looking at this a couple of weeks ago I said the IWB that's the Russell 1000 could it make a new high and if it does that would it be a leg D because let me just do this let me move this away and I wanted this is a little this is like I would do on a Friday I'll do it now this is do that what did you just do there let me expand a little bit so what we've got was a peak B just like the S&P and that was the that was a high of was that January I believe also Jenner I think that was December so 266.89 267.30 yeah January of 2022 so that's just like this we keep your hand this child on the right that's the S&P month this is the IWM Russell IW why am I saying I Russell this is the IWB the Russell 1000 small caps so now let's look at the S&P keep you on the right side chart and just move this a little bit so you can see better there you are there we go there was a peak B in the S&P it's the same doesn't it and look it's gone to a leg D all I meant to say I had this some point and then I'll ask it and then forgot about it look at this here is the left side right side price time actually just missed it and then it went a couple of months before it broke out so these leg D's in the S&P and the IWM so past the B that was made way back 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 them 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 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today and become a part of this educational community of traders just visit the front page of TFNN.com free at 1-877-927-6648 internationally at 727-873-7618 the S&P the S&P 500 equal weight ETF made a PFC back in January 2022 pulled back quite sharply excuse me and that has gone peak A peak B gray A gray B even a gray C because it's the casting only a 70% and the mag daft wait for all of January to confirm that it's a blue meaning it's going to go to a higher high but this C means if you pull back because already in January we have a maiden you recovery high this is imagine it doesn't and then this in February it goes slightly higher but it doesn't go above the 15490 January 22 high that supersedes that C and that D says oh now you got to be really careful okay but if it breaks above it you have an overlapping C in other words if this continues high in January it goes above last month's high of this is the equal weight remember of 158.60 I think it is if it goes one penny above in January and it has all the rest of January to do that then you're going to have a leg C if it's not a leg C and then this C is still a C until it takes out that if it takes out that high it's no more a C it becomes a D and that's just a it's a very functional thing that's halfway there's no there's nothing really fancy about it they're just moments where there's an alternate count and your technicals are going to keep you in the position especially something like the 914 and that's going to supersede anything else and that's going to give you the information to say hey I'm wary I understand that there could be a different notation and therefore got to be just a little careful you don't have to actually do anything you just got to be prepared okay so we've got that let me do a couple of questions here so PLTR talent here we've looked at very often hang a nice session today if I can actually get it to come up there it is nice session today up 1.3 up almost 8% at 18.11 I looked at the other day and I said yeah it's just kind of stuck you until it can start to trade above the high of the 27th which was at 17 point which is at 17.91 if I can trade above there can't go once it's going to trade above there this is the first time it's doing it all of a sudden it's got it it's just a different animal all together volunteer technologies and diverse data fusion platforms whatever the heck data fusion that's easy yeah and then then you start to look at this target of the 15th of December of 19.15 so far it's had a nice gap up it's holding on if this is earnings or whatever it is but whatever it is it's holding and if by the end of the day it hasn't given back and closed under 17.83 but closes somewhere here or higher that's good it means finally it's back in business and it can tackle one step at a time it'll be that that peak just above 19 oh and I should say if it closes between today and tomorrow under about a third let's call it 17.70 if it goes under that and then closes it's not it's not holding whatever gave it this this little rocket ship move it's not holding it that's not good I'm going to get a question that I'll go to and that was sq which is it was square now it's called block sq nice balance of the low now this is interesting I look to some of these over the weekend we do have some nice positions we've got we had a small position two small positions and something that was just horrendous forever just for a year or two and we got stopped just got stopped out and then it bounced but I really liked it so we got back in and today it's made up making up for the for the that loss because it's acting very well this is a stock in the three dollar area so I've got a really big mix off of course we've still got our microsoft I almost said today if it hits 400 let's take another 10 of we've taken some of the little tads off we've also had nice trading positions we've got a really good core I don't want to mess with this this is you know I think there's a story out something about hacking you know they'll deal with it whatever it is and that is that was my proxy for the diamonds at the same price back in on late October it's been a spectacular move and now sure you can have a little digestion it needs this and whatever it takes that's fine and then there's another one that I got into also something that acted very poorly and then it started to ruddy very nicely now we got in on Friday if you if you bought it as a subscriber if you bought it immediately after I sent it out then it just hit the stop and you were taken out I said you've got to get back in under a certain level today now we're back in but there are people I know that actually are holding it they got in they were fortunate enough to get in just like 10 minutes or so later so they stopped held it's just tough when I do this and I have stops it's just I've never understood what if I really like it technically I should just say buy it and no stop let's see what happens I can't do that especially with individual stocks things happen what I'm going to sit you with a stock say whatever it is uh buy in at 30 say 38 and for who knows what reason it suddenly drops 12 points these things happen what do I do then I'm sitting with a stock that's now down 30 something percent and I'm going to get the subscribers maybe there's a subscriber new subscriber first time they ever buy anything from a user boom that's the one they choose I I don't like to live with that so it means that sometimes you can stop that you have to get back in that's just the way it is so now um so within this context we once had square once had square and about um I think it was a long time ago I don't know if I don't know if I'll be able to find it but I'm not going to go back to find it but we had it ready down near the lows um and then we either we take out took a little small little profit or we got a small little loss and I never got back in and then it went from 38 85 in October of 2023 to 80.28 December now I had this no I had it and then I had to reduce so I lost oh that's why I forgot the notation in so if I go to this particular midpoint right here from this high that was made back in July around about 80 something and I go to this particular high right here which is one of the techniques that I use for looking at price time match in other words the number of bars from the high to the low should equal the number of bars from the low to the high but sometimes if you do it and you do a little late as it started to come off the high this obviously looked right here with a side end doji before the actual low of the on the fourth of october the low was the fifth at 42.64 um if I take that as the low it doesn't really work but if I go to the little doji candle high of and that's what I usually use either the arch or the cup low and the other side so I go right here let's see if that's going to work because that's normally what I would do and I thought I'd done it some time ago and that's why I was very upset that I didn't get back in to square or block and now I'm going to do this look watch this technique I will have to you don't have to have rectangles you could just have a straight line make it one color or thick and the next one's thin I'm pushing down for now I'm going to go to the right and let's see what that comes and then what I would do is I'd go from the left side low right here particular candle and I go to the join to join this now let's see if it works out so that's between there I'll be back in a moment does up 236 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 great time to try out teddy keg stats tiger forex report teddy keg stat breaks down the forex markets every monday using his 30 plus years of experience as a trading veteran of futures forex stocks and options teddy releases his weekly tiger forex report every monday morning with coverage of all the major currency pairs including the dollar index the euro dollar pound dollar dollar swiss dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30 year t bonds as they both influence forex markets tremendously when you sign up for the tiger forex report you also gain instant access to teddy 60 minute webinar archive he just hosted forex strategies and fundamentals what is behind the tiger forex report for all the details and to start your 30 day tiger forex report subscription today visit the front page of tfnn.com tfnn educating investors you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by basal Chapman creator of the trading methodology known as the Chapman wave the Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices get the opening call newsletter by basal Chapman in your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors tfnn has just launched their new trading room the tiger's den 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 tigers for just one dollar for the year there's no cash or 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in years and years and years it's one thing having guys who come on women they come on in the ace in the ace in the ace but i love to see cross-court running dropping just all those things that you can smack between the legs you know that all that stuff i love it because that's just fun that's that's that's like the difference between say options and regular stocks this is really moving this you really have to you know the techniques are fantastic i love it and it's also great to see americans up there in the the top top rung that's good okay so this is so yes square so that i did this and i showed you that was the plumb line that i used right there and uh it would have taken me to not about the 18th of december at 80 whatever it was just just over 80 and it got to um just under 80 and five days later it went to the doji candle 80.28 pg so pg was talking to me about so the tennis so this is a pg and then it's pulled back to the 200 period moving average a nice bounce so this is saying this this goes to exactly what i was talking about that there's a chance that we're looking at a rotational correction because you know this this the big moves to the upside mostly have been the magnificent seven and you know obviously other stocks as well but not the general consensus you've not had a really broad you've had a broadening of the indices slowly but not really leadership broadening so that just says to me yeah this is very select and i i'm anticipating we do have some kind of a first of all so square let me finish that so square this is a really look at the nine period moving average um in the weekly chart in the daily chart that's weak but in the weekly chart it's strong and that's the one you're going to stick with so i like it looking out if you're looking at square as a play i would say this should not be your big position but if you're looking at it and you have time on your just you you have patience start if you're not in a starter position right here this is a person who asked me because they they look at the longer picture they are prepared to add at certain points but to start a position and small and i would just say this is not the perfect position the daily chart hasn't swung around enough for me to say ha buy signal heaven hasn't even got the buy signal let alone a buy mode but just as a little starter position i'd have a small a 6805 and i would actually have a stop on this one all the way down so it's almost like a 10% but it's a very small position so it's not like it's a tragedy something happens because you want this as a starter to give you the the all the information to say where can i add so just a real tiny starter if you want to wait you could wait today's lowest 67 13 is trading a 6808 you could get close to the 67s if you feel that that's what you want to do but yeah just a starter position and it's got a lot of work the weekly chart monthly chart you can see a lot of work before it can really build it if it didn't pull back this much and as it went to the last move to 80.28 and in fact it's stored right at the green nine-speed moving average and have the same proportion will move now i say oh this is really good it's not it's just it's it's building some kind of a base okay enough with that so next question came in i wrote it down pct uh plastics huh pct is pct plastics young man okay so we've got a $3.31 up 14 cents this is a leg b well the daily chart is trying to lead the weekly chart there is a lot to go so the question should be yes the same sort of thing i'm doing the short-term trade but i'm looking at the longer-term picture i think that's really the question here dan if that's the question the monthly chart is just horrible the weekly chart has moved from horrible to less horrible the daily chart has just begun because it took out this rectangle arch low and closed under it twice and then it moved up i'm just going to say to you as a starter position i don't know if you've got a position in this let me just check i don't if i can find it uh real quickly uh i don't think i'm gonna find it i i i no i can't find it so i'm just going to deal with it as it is right there and i'm just going to say would i buy would i sell would i hold uh what would i do right now and i'm going to say um i would actually start in your case because it is one of those that you've done some homework and it's called um power cycle tech ink power cycle cycle cycle uh pct trading in three thousand two and nine cents of 12 cents yes it's it's intriguing i wouldn't get too carried away but if you're looking for a trade this is one where if you're going to trade i would have a stop and i have a stop it's a 331 it's a big percentage stop so i that would not be ideal for me i wouldn't do that but i'm just looking at it and saying you've got to give it a little room because it's coming off uh uh lower lows and lower highs and now it's sorry to make higher highs and higher lows so i don't want to see it go under 309 it's a 331 309 just a short term stop right now for the day but if it can't i don't think it's going to but if it can break the height today's high of 342 i would raise that stop and i'd raise it almost to 315 i would make it a big jump okay so it's just a starter position there's a lot of work to be done next question came in oh if you go look at uh tiger youtube um yeah so just to mention by jeff about ibm so ibm is news coming out earnings news is coming really i typed that i typed it right there on the chart instead of over there i ibm is the one that i've been talking about for over a year now saying this is the one that's been it's a reincarnation really it's the only way you can look at it they're really in the sweet spot right now they're up capped up at 173.29 up a dollar 81 i almost well i was going to do this i was going to say look for a trade going into wednesday because i think thursday did i write it down thursday oh oh no no no it's tuesday monday tuesday wednesday wednesday is the earnings i was going to say for a trade let's get ibm and then take as much of this we can and just keep a little bit for the earnings now it's all done it's it's not that's not a viable opportunity for me this is looking really good and it's going to be a leader in 2024 so if let's just say it moves up now but the earnings come out and to sell the news rather than fantastic it either gaps up overnight but in the next day it gaps down i would look at it as i know the question has come in where would you where would you buy ibm if you've missed it up until now it's really tough but that gap in the 167 area to 165 that's where i'd be looking at it i'd have to do an assessment but that's kind of where i'd look at it hope that helps you next question if i can just type this in here maybe let's speak to you oh an amateur took the pga isn't that interesting uh oh you saw this so small position of fighting spirit very good activation option okay so different options on pcp that's the best way to do that's the energy the iranians how they do for a fallback i i would say they do for but i'll be back in a moment we'll look at it 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 obrien 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 back guarantee so you have nothing to risk subscribe to tom obrien's gold report newsletter now at tfnn.com are you ready to take your trading to the next level introducing tom obrien's award-winning newsletter market insights your key to successful active trading tom obrien renowned 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insights firsthand 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.com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-476-7523 the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services LLC this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz hi folks we're back and what was i looking at i was looking oh question came in about urany see are you're in you remember i said that everything about this particular chart and i've counted it umpteen different ways i i can't get any other count but this could be a chapwave unconventional flat base restart therefore this could be possibly i just each way i get a see but the character of this candle right here at 58 in the uranium sprock uranium miners etf at 5815 everything about it looks like a d and to coincide with that if you look at ccj this is an f an alternate count f and it looks like it really is an f and a d in the weekly chart if you look at u u u u ccj's chemical uranium u u u u is energy fuels in uranium this is i i said out of the two stocks that were mentioned a long time ago that i had a choice of choice of the two for the uranium i i this is the weakest one the one that i chose was a u e c uranium um uranium energy core and that had an alternate count and it really looks like it's an f for not a c i don't know yet but everything about the way it gapped up the way it's pulled back taken four bars to fill the gap and then go lower instead of at this point the third bar to the fourth bar should have been the one that retested the high this just looks to me like it's having a breather but this is the most important thing look at the monthly chart all-time high uh it went to 829 the all-time high was back in 935 back in 2000 and February of 2007 the previous high which it took out at 748 because the high here was what did i say did i say the one thing uh 8 829 so 829 the recent high took out the high of november of 2010 of 748 and if you look at ur n m um there i i don't have enough information going back i wish i had the symbol for uranium kind of for platinum but i don't have it for uranium so um and here i'm i am so far calling it a c in the monthly chart and not an e uh why because that's the starting point right there and we never took it out so this means you can continue the wave count just sequentially in the alphabet all right so um so the question was uh n x e i think it was right i think it was n x e n x e is in fact next next gen energy limited see this is this is actually like u e c this is a these are the two best charts that you can see look went to and i believe that this is an all-time high so let's get rid of that right there so next gen let's go to the dating the weekly chart um yeah so c d e and this could be an f i'm counting in an f for now if i'm wrong that's fine but that's a d that's an e and that's an f right could be an f slash b with a momentum according to d and this is oh ho ho ho this is um e f g slash c in the month in the weekly chart g slash c all very strong but very short term i think we'll fill that gap so the answer is if you're looking to buy n x e or maybe you have it because i know you have a bunch of the iranians um be prepared this at 732 right now 745 down 15 cents 732 is the 14 period moving average i think you can fill it and it can even go to 728 in the 720s is that's where we're gonna have to look is that going to be a brand new bicycle but we haven't got that yet we haven't got to sell signal a little in cell mode so i'm just saying high level consolidation i my eye says that uranium is in play and it's in play for a while i think it's still going to be in play for 2024 even if there's a bit of a pull back here that's just the way i'm looking at it next question came in and i can't see where it is okay there it is um so here's a question that i think should be uh should be i wouldn't say on the forefront of everyone's mind but it should be something that you're thinking about the reason why vi x the reason why i was a little hesitant last week about a lot of a lot of the the price action is because the volatility index you remember early last week the vix screamed to the let me give you the exact price to the 1580 15 15 40 level yes it went to a pd but in the chaplain wave methodology there are just one or two instruments that i don't use chaplain wave for i always notate it but it's really you don't expect necessarily a c and a d in a buy mode in the vix because it can it almost always fails underneath that so there's a c-minus back in march of 2023 at 30.81 the lowest 12.68 back in i think it was september and then it pops up to the 22 23 area and then it comes all the way back and that's a b that's actually a b-minus because it failed so that's the one place that you don't get chaplain wave notation okay so my thing was that i said i'm suspicious of the volatility index coming off just about all-time highs it wasn't paid all-time high for the doubt i that says too too much too soon and that's exactly what we've seen but we're looking at the volatility index making higher highs and higher lows yeah that is important i'm suggesting to you that this is i i could be totally wrong in this but i'm considering that the move that we're looking at from friday to today is just an extension it isn't a i don't see it as a brand new buy signal that that really is the start of weeks and weeks of upside move i see it as the culmination of the buy mode that we were in even though it's recycled a couple of times and that i i don't feel a hundred percent sure but i'm almost in the 80 percent area that says we're going to have a consolidation here before we can restart anything to the upside that is sustainable it could be wrong that's all i'm saying and that's what the chart seemed to be suggesting to me all right iYT is a question that came up what what's what's going on iYT has not made an all-time high yet the Dow has well that's the old Dow theory there have been so many modifications and changes to all the different indices too i mean the same way as gold is not participating as it usually does and i think that's because bitcoin is taking away from the the the adventure of uh of being in one of these volatile areas look and i gave you a sell signal which i think is now a sell mode yep it's a sell mode and the btc the bitcoin futures continuous contract dating it's almost i have to wait for the week to finish but it's it looks like i could very get maybe even get a sell signal this is a sell mode in the dating the sell signal it's not yet i have to wait for Friday it's closing the weekly monthly chart looks very good and you remember ethe i said i think that this is a short-term top at that pd and yep there it is look at the same as chart as the uranium so this is a d and it's pulled back this is in a sell signal ethereum in the daily chart by the end of the day i might have even upgraded to a sell mode all right so now let's go back to where we were looking at the iyt and the iyt is saying hey i'm participating i'm just not leading but if the transportation index anytime into the first week of February is able to what 261 can actually go to 268 or 269 that would be 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because this is ugly just absolutely ugly it's done almost a one-to-one to the downside in the weekly chart 880s should really be key support looking at apple apples having a nice session of 2.31 and 193.87 leg c by mode in place helping the weekly chart making a cup to a w formation and the monthly chart still good amazon amazon is trading at uh oh sudden turn around just missed another high not a whole time high that was a 188 so it's at 154.51 so you can see that we've got look Microsoft nice nice turn around needs a bit of a breather in leg f music and instant restart i'm still pointing this in f we'll see what happens yeah and meet i'm gonna hand you over to steve road the dates yeah i i think i just played self pick you up on friday it was helped by options expression have a great day check out my opening call my dating newsletter and i'll see you