 The following is a presentation of TFNN, the power trading hour with your host David White. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now David White. And welcome all to another excellent edition of the power trading hour and of course that's always at the appointed time. The following takes place between 2 p.m. and 3 p.m. So we've got kind of a down day, a little quiet going into numbers tomorrow morning that I think a lot of people are whistling past the graveyard on. CPI does not include energy and that's probably the biggest thing that has changed since the last one. But my belief is all those inputs from energy in the last couple of months are going to start showing up in that CPI. Of course they call it the core and non-core. So I think we're probably in for a little surprise tomorrow morning. But we shall see. 877-927-6648 and we've got a little bit of action going on today and we'll get to most of it. Give me an email at path at TFNN.com but I suspect that we're on some kind of pullback and eventually I think we have to go back and retest 3750 one more time on kind of a bigger scale. I think a lot of people are just assuming that the Fed's going to go away and every day they get a little bit bolder and telling us that we're kind of also being a little bit too optimistic. So we went from about an 80% chance of a three-quarter percent raise to about 100% for September. Now the question is when do we start hearing maybe interim rate hikes and maybe more than three-quarters, maybe one percent, maybe some combination of both of those rumors but my guess is after tomorrow we're going to start seeing that. So on volume it's okay. Is it a little light? It could be. It's about 6.8 billion shares but we the rallies have been with incredibly light volume. Downside is only slightly more volume but it's still not finding a lot of buyers. I put in my newsletter this morning the percentage for the dart pools. We continue to have a huge, well let me put it this way, a greater percentage of the trades now have continued to be with the men on the street and not with the retail trader. Generally when those dart pool numbers come down that's a good indication that you're getting cash in from around the world and from retail traders. So I'm kind of looking at this as a Wall Street kind of dead cat bounce off the lows at the moment but yeah I'm not expecting everything to be all rosy and sunshiny and yeah probably a lot of rose colored glasses right now but we shall see. Again I'm kind of a little bit bearish out here. We'll see how the close comes in but I would not be surprised if I fairly big gap lower as we go into the open tomorrow. Other things going on we've got more comments from the, let me get back here, it was, what is the name of that company? Eh, see if I can remember it right now. I'll think about it in a minute. NVDA, oh take two, TTWO right? Take two interactive coming out if I've done that right. Okay with a forecast on the gaming sector, they're down a little bit some decent volume both yesterday and today but they're talking about really the gaming sector and that's kind of an LA based thing. They've had a lot of problems getting programmers and everything around LA and the E3 conference which is when. Let's take a look at it and what they've done about it to see out here. I'll do a little on-air research and see on E3, electronic entertainment experience. Okay see you next year. I don't see anything on here. I don't know what they're doing anyway but they just ignore it. Is it not going to happen at all? I think that's a little bit of the problems. It's based in LA and they're having real tough problems because every time they try to schedule something the governor pulls the rug out from under them on it but a lot of these guys you know you have the convention which is normally at the end of the summer and you start seeing these new games really start to come out. Well you got two problems. One the companies are kind of tend to be based around there or many of them and these folks haven't been working hard or working at all and they earn a lot of new games or the games that they have are being delayed. Anyway NVIDIA really kind of taken the heat out of some of the SMH's and that sector. Take two kind of added fuel to the fire to yesterday's downturn in NVIDIA NVIDIA but I think a lot of these are going to at least need to probably go back and retest the previous lows. That's 140, 55 on NVIDIA and I think it's very tough to think that it's not going to take two quarters for them to get through. Now the market says that it looks forward for six months but I think that the issue is going to be that they won't be able to keep the prices up maybe for it may take another year to get through the overhang, get the new products out. They're already talking about delaying the fall release the 4000 series video cards to next year in early spring so that they can sell the product that they have now. We've seen cards that normally we're selling for 2200 now available for 1200 bucks so there is a glut and it's probably not going away and the game business doesn't have at least we don't know of a really hot seller for this Christmas and I think that they may have suffered the whole industry from gaming which is what NVIDIA has been commenting on is going to be light because they don't have that killer game that everybody's been looking for or the next release of a series that people are looking for and I think that the super high price video cards over the last year year and a half has led people to get into maybe some other things so anyway not a good looking site you don't have nearer the volume we had yesterday kind of coming in to support but I suspect it's going to be a tough fall for NVIDIA we'll be back in a minute. Inflation we are purchasing powers eroded there's no better place to protect your harder and money than in gold this the gold flagship asset is the Monk Todd gold project in the northern territory of Australia this is Australia's largest undeveloped gold project we are talking world-class gold project in a tier one mining district this is a large-scale low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction this the gold just completed the Mount Todd feasibility study which resulted in a 7 million ounce gold reserve in a 16 year mine life all of this combined with the approvals of all major operational as well as environmental permits this distinguishes Mount Todd as an attractive dearest pot ready development stage gold project this the gold trades on the new york shock exchange under the symbol v gz are you grinding in the market but seeing little to no return or are you a successful trader simply looking to make your job a little easier learn to take the path of least resistance with david white's powerful trading newsletter david white is an accomplished trader whose deep understanding of technology and the markets allows him to consistently find and share winning trades support and resistance define the ranges in which stocks trade by understanding these trading ranges david white is able to find a path of least resistance david white's trading newsletter the path of least resistance is delivered daily before the markets open to make every trading day an easy win visit tfnn.com today and subscribe to david white's ultimate trading newsletter for $119 a month and try all of our newsletters risk-free with our 30-day money back guarantee take the path of least resistance at tfnn educating investors are you looking for a way to consistently add winning trades to your portfolio tom o brian is here to help tom o brian has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade network and CNBC tom o brian found a tfnn over 20 years ago to help educate investors just like you tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio get tom o brian's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at tfnn.com tfnn educating investors toll-free at 1-877-927-6648 internationally at 727-873-7618 as we return we go to some other stocks that were earnings um ddd systems down today and fairly nicely uh got to a high yesterday 1342 uh did hit a low of 1068 today trading at about 1124 so what do we have here well supply issues supply issues supply issues are problematic there is kind of a big uh change coming in this industry and that is what a lot of people have been waiting for for a while and that is metal printing and it's starting to really catch a little bit of fire one of the other stocks that have been in this sector kind of a fourth or fifth runner has been desktop metal um don't see a lot in here other than it's kind of hanging hanging at these highs gap down with a massive amount of volume to a dollar 26 got to 274 on june 24th with 82 million shares still not enough uh tested that with uh july 20th with 11 million shares and then uh today with them about six million shares so far so you know there's no shorting of three dollar stock but none of these really look good they're kind of at the um what do i want to say at the whim of whether or not uh many of this the parts come from china um and of course the darling of wall street themselves in this sector uh is stratesis um it's down a little bit on fairly light volume but all you can say about this thing is it's in a trading range of about a buck higher and a buck lower uh so and not much to actually put on there uh they've been pushing apple all day long on the financial infotainment channels uh there isn't a great deal of volume on this one either doing about 37 million shares compared to 60 million uh when it reversed off the top yesterday as i suspect we're going to continue to see this happen but uh throughout the day and even yesterday we're starting to see kind of a different pattern at least i am and that is they're trying to pump this up somewhere around new niche maybe get a few people try to buy uh by the dip uh for retail traders but generally by the time we get to this time in the day um the rallies have pretty much petered out because they were on light or no volume um but at the same time we don't have a lot of people going short the people that were short pretty much gave the money back to the mister market and now we're looking at a market like i said that you want to really watch out for and that is because most of the shorts if not all well there's never all of them but uh i'm going to say most of the shorts have covered or got out if they had any kind of medium or shorter term timeframes maybe the big guys on the street are going to be sitting on their hands for the next year or two but uh we pretty much saw the weakest hands out there uh give it up and a lot of the discussion is about the meme stocks like bed bath and below uh reversing out here it got the nice turnaround signal today uh it was probably the shortest of the meme stocks i think it was about a 40 percent uh percent float uh there is some discussion on whether or not some of the bigger holders had been moving their stock their shares in and out of margin accounts to cause this and get out at higher prices that is not illegal and if you're new to the show or the market uh to borrow shares to go short you have to actually uh have somebody with shares in a margin account if they take those shares out then those the amount of shares in the float changes and someone's going to have to give up their shares if there aren't enough shares uh totally out there so the question is whether or not uh that insiders caused a rally in this to get out of it at much higher prices it happens more uh often than you would think uh but uh you know generally when you're rallying in a bear market this is a pattern i'm not one of the reasons why i really kind of have a deadline on shorting stocks below 30 bucks uh it just happens more often than it uh you would like to see so is that kind of that kind of the beginning there let's say that's it we couple are at apple um amd uh again along getting towed along with uh invidia uh and some of the other ones um unreal unclear certainly uh amd is becoming more like intel and intel more like the old amd i'm thinking that amd could bottom before invidia uh not so chained only to uh the miners although it's got a little bit of that uh but the other things are that they do have some very good new chips coming out in the uh server uh area uh and they're they call it what epic line uh and the just a couple of them just came out there's a lot of reviews on them on youtube's uh for those folks that do workstations and and uh small server kind of business uh i think the chips about i wanted to say it was a five grand or six grand chip so they're becoming a little bit more like intel with very high price server products and for the most part they're actually fairly good uh most uh big uh companies will pay the extra money like uh the big web services but a lot of uh folks uh that have uh web services in other countries uh are starting to switch so that it is a bigger problem an ongoing problem from intel as we look at that um and yeah with intel you're actually breaking through the previous low you don't have the well you only needed 33 million shares uh from the july 5th low you attacked it with more volume you had a very tepid bounce uh off that gap down from earnings and now you're breaking through it you need well you got 31 you need 33 so my guess is you're going to have probably something like 38 or 40 million shares and that's going to be a valid break of the lows for intel and now i don't know how far we have to go back even if we could to find a low out here that uh intel i mean once you hit 39 uh that was back to october 24th or 2018 uh you actually have kind of a small gap up that really never got filled that goes back to see october 27th to 2017 3909 so yeah you you're kind of back into what support should be but yeah let's see if i can get back here well we'll be back in a minute if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report is a comprehensive look at the metal 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 publish the gold report with coverage of gold silver bonds the xiu hui 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 sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at tfnn you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv live every market day from 8 30 a.m to 4 p.m eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts to help you make the 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 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 trader's 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 guardleys abc's 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.com this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com and come back we were talking about intel i moved the chart but i went back and looked the next low out there for support comes entered about 31 so that could be it now i had a question on microsoft about buying 280 calls i'm not a big fan of that particular position um and one of the reasons why is it is this up against the downtrend line and i don't see anything really that changes that maybe in tell septem uh tell september uh where i have it no that's not it there it is uh anyway uh we're at the downtrend line um the energy on the way down uh has been pretty much on my power law vector indicator 14 on the way up it's been a 10 and then that's been it so i i think that you probably got everything off the lows that you could expect again i'm fairly bearish going in through the next few weeks so i would probably be out of any calls um i'm kind of in the other camp so don't see a lot there i got some more emails too we'll go out there i got that got that okay so kind of interesting nflx watching these streaming wars i always kind of like stuff that you at least have some kind of idea what they're doing and more and more we're starting to see the streaming minutes for each platform and actually for what they were watching too and uh you know the amazon uh has uh the uh a fairly good property i guess in this terminal list i haven't watched it uh but uh i know a lot of people have talked about it um getting a lot of uh of uh views on it it probably doesn't affect amazon quite as much as uh netflix being a pure play on the streaming issues probably the most interesting thing about the terminal list is on rotten tomatoes by reviewers it's in the low 30s on viewers it's 95 so talk about uh actually having really two really different world views uh for a bunch of folks of which i think something like half or three quarters live in california opposed to the other 95 percent of us that live in the rest of the country uh thinking that it's 95 good and them only thinking it's 35 percent good uh probably tells you a lot about regional differences um but uh i think that's one of the big advantages we have or a lot of us have and that is that we don't live uh anywhere close to wall street uh so we don't have uh the same tv shows we don't have the same issues the same teachers for our kids and we have a little bit better world view with a little bit of diversity um that probably rotten tomatoes can get for the terminal list but again netflix getting some huge numbers uh from uh and still is uh from the last season and people catching up with uh the uh stranger things but uh very interesting to see that everybody else um is not doing that well on streaming minutes uh the other thing is that we are seeing something that i think is uh called the 80 20 rule and that is there are 20 80 rule depending on how you look at it and that is that these shows about 20 percent of the shows uh end up being 80 percent of the entire streaming minutes and that's following along fairly succinctly which means that if these guys are going to turn around and make some money they're probably going to have to cut out the shows that no one's watching now some of these things are um uh beauty or passion products or projects or something but i don't i think the days over when these companies can do that they're going to have to probably start focusing the money on stuff that actually people watch instead of things that they want to think make those folks want now that being said no netflix has two big large gaps my suspicion is before it finds a low you're going to get one more big lower gap down that happens about 80 of the time you get two big gaps like you had this one's what 60 bucks off of 500 and then was it 70 or 80 bucks off of 310 down to 230 uh we're just kind of coming back up to that level but uh you can kind of see in time a lot of the times you do have some synchronicity in the way that those gaps come in so you have the first gap uh coming in here on the uh was that january 20th the second gap comes in on the 4th uh and so that would suggest that uh somewhere out here uh in the 7s uh is uh we're getting now we're kind of getting along in the tooth out here uh but we could get ready for that next really big gap lower okay and i'm not that i i generally want to trade in the someone had a comment i generally want to trade in the direction of the market and if the market's weak i want to be short even if it's uh bouncing and uh when the market is strong i generally want to be on the long side um now for years we had a problem with the fed uh mickey mousing with the returns but uh pretty much everything's returned to normal now that they shut the spigot off uh to it's like it was the previous 120 or 140 years for price and volume trading uh to take a question on the tlt which we will get to you don't have much i'm watching it very closely over the next couple of days because i've seen i just happened to wake up i don't know what it was two or three in the morning and turned on bloomberg uh i like to occasionally watch what they have to say when they're talking to everybody in europe or in china and they don't say the same thing that they say here when us uh folks are up and watching they're a lot more iffy on the united states than most people would think if you watched uh u.s television or watched when bloomberg was on not in the middle of the night when they're uh talking to the people in england and western europe and a little bit of china still left over but i'm wondering if there isn't some kind of nervousness now that we've got but not much movement but not much volume either in the tlt for today so we're not getting any kind of signal on that uh what do we have here down 25 bouncing around here again not a lot of volume up or down my guess is that's going to come uh more late in the day um work day had some big moves earlier in the week and jane wants to have me take a quick little look um you got an inside day on very light volume on that so there isn't a whole lot i think we when we talked about it last it was coming up to resistance which is this gap down that goes from june 3rd that had three and a half million shares and got three yesterday so it's not attacking it with volume we'll be back in there tfnn has been your trusted source of analysis for bonds metals stocks commodities and options for years and we are happy to announce that we are bringing that same caliber of analysis for the forex market teddy kextat has 30 plus years of experience in forex trading commodity risk management forex hedging volatility and so much more teddy releases his weekly tiger forex report every monday morning with elite coverage of all major currency pairs including the dxy euro dollar pound dollar oz dollar dollar yen dollars swiss frank and so much more teddy will recommend specific trades when the market presents them and provide updates throughout the week when warranted for the month of july inaugural members the tiger forex report will receive 25 percent off the monthly subscription for as long as they're subscribed just use promo code teddy 25 to lock in the added savings this offer is good only for the month of july so do not miss your opportunity to save on the tiger forex report tfnn educating investors the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information david whites investment newsletter the technology insider is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future david white has made his living staying on the cutting edge of technology his weekly newsletter will give you specific recommendations for valued tech stocks as well as entry prices target prices and stops to set for each trade david delivers his weekly newsletters every friday with updates throughout the week you can get the technology insider at tfnn.com for only 37 dollars and 50 cents sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer try it risk-free today with our 30-day money back guarantee tfnn educating investors are china a shares hot or not if you trade china a shares now may be time to take a closer look trade chau or chad directions daily csi 300 china a share bull and bear etfs china a shares in either direction visit direction investments.com 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 for side fund services LLC this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz and we're back uh got uh to do micron with two gaps down so you got about a buck and a half on the first one you got about uh and a little over a buck and a half on the second one here just assume that you're probably going to get a third gap lower again nvidia talking about games uh business being a little low micron so we talk a lot uses or sells a great deal of their most uh uh uh what would you call it highest margin memory for vram for these video cards for nvidia and amd so that's going to continue but uh they see that weakness and of course that is the highest margin the idea would be to find uh micron about the right time uh that both amd and nvidia get back to buying a lot of that high speed high margin memory uh but uh yeah again it may be before the it may take till late in the year there's probably about a two or three month lead on memory production for micron um and uh the orders from uh from uh amd and intel all right excuse me amd and uh nvidia uh but you actually have uh intel coming along also i'm not sure that they're using micron memory uh they're just starting those video cards are just starting to show up uh and you know if they're any good could they hurt uh intel i mean could they hit i can't even think about it right now can they hurt amd or nvidia's business in the video card i just for me it just seems like intel every time they put their foot down it it's in the wrong hole so uh they picked a really horrible time maybe to introduce their video cards a year ago would have been much better uh even though that they weren't ready to go maybe people would have bought them uh even though they didn't have great drivers but now in the worst glut of video cards very tough but you know intel's a big company maybe they can hang on to it for a number of years okay okay okay looked at apple we looked at mic uh look at microsoft uh okay cr sp got a question to take a look at crisper it's kind of hanging out here at the highs uh i don't know the biggest problem i have is it looks like maybe the ibb is starting to top out i like this sector better just because it has a lot of hot law a whole lot more stocks in it than most ETFs for biotech i know a lot of people that trade the other ones because they don't they're a little bit more focused uh and but you've got over 200 and what 20 stocks in the ibb so it gives you a little bit better read but i'm going to say you do have it's not a horrible looking one uh but you have a little bit of a reversal pattern and depending on how we close out here today if you close down just a little bit more what would be the low of the day 127 128 ish out here if we get a little sell off before the close that could put a little bit of a top in the ibb and look for it to return to about 124 not the end of the world but maybe more of a trading range in the ibb uh to to to okay where am i looking at in the spies well i suspect we're looking back down um around that gap at about 394 if we break through the gap that we have right now but yeah um any kind of big failure here would suggest that we're going back to the candle of the 27th of june or july 27th of july and the low of the day on that day was 394 so that's pretty close out here to where support should be on any kind of big reversal now when we look at the top which we had yesterday you look at the june second high at 417 44 that had 96 million chairs we got into that with to about 54 million chairs yesterday he got into it with 67 million chairs on the third so there wasn't a lot of juices we went and attacked those highs you're pulling back a little bit it is lighter volume i don't think we get one more bite at the apple mostly because the amount of energy off that 362 low um well if you look at my power law vector indicator number um was 22 on the way down and 16 on the way up so why it took a little longer and had a lot light volume uh the the volume characteristic is not fairly good uh in this let's go back here and pop this up real good real quick but you had the lows but especially since we started heading back up you can kind of make a kind of a nice little down wedge for volume as we got back into these highs so it didn't really continue really about 395 394 really kind of dropped out except for those three days that went up then we had a whole lot which i suspect was distribution for the last four or five days and then the reversal yesterday and probably getting a little bit more of it but uh yeah i think we probably have a fairly wide trading range but um on the uh on a medium term scale you're probably looking at 394 ish it's on the bow uh to do okay and what else do we have okay okay question on ccj we got a minute left here so we'll get to that i think i was still looking uh for it to pull back to about 2350 that's this gap higher back on the 27th of july that came out with 12 million shares so that's a good day sign of strength you're pulling back today with just 2.7 million shares the question is whether or not you get that 2350 in a bear market i know it's tough especially with crude being uh kind of floating around here and gold starting to move to get too interested in it but uh i the future is probably nuclear power we don't have anything really else to go to and uh we continue to paint ourselves in a corner by not uh developing more uh avenues of fossil fuels but uh i do digress okay question about william's sonoma which may have to wait until we return that we will return william's sonoma as we return vista gold owns and operates the largest undeveloped gold project in australia the mount todd gold project vista gold just completed their feasibility study resulting in a 7 million ounce gold reserve vista gold has all major permits approved and has retained cibc capital market assistance in evaluating alternatives and in completing and creative transaction vista gold trades on the ny sc american and tsx under the ticker symbol vgc vista gold executing a strategy to create shareholder value 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 in 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 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 pesavento on stocks you need to pay attention to and you can trust larry's analysis after all he's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from larry on market movement you need to act on at any time 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 subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors tfnn has launched 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 the tiger's den available to all tigers and tigers is for just one dollar for the year there's no catch 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 catch tom o bryan professional trader and educator founder of tfnn also a special guest on cnbc tom will bisect and dissect the markets the tom o bryan show next on tfnn now we looked at that we looked at that oh question on the smh is smh okay well yeah i think the first line of defense would be the low of the 27th and that is 225 so you kind of got into that today you certainly got into it with what's going to be heavier volume 5.6 million shares right now and you are only had 5 million that whole day up which is actually some fairly decent volume so yeah 225 would be interesting to see if that can hold you do have the next move down to 215 you're pulling back a little bit but i don't see i know everybody is about as bullish as you can get they've covered their shorts and there aren't a lot of people shorting out here and not many people thinking and following along with shorts so you can think about what's going to happen over the next day i'm fairly bearish but we shall see the proof of the pudding will probably be in the results tomorrow for the market uh see we got about a minute left let's take a look at volume as i said volume up and down is fairly light probably waiting for the cpi numbers tomorrow morning about 7.5 billion shares and again the reality of the rallies have been on very light volume maybe just a little lighter on then the downside which isn't heavy but my guess is we're probably going to see that volume either come in tomorrow morning or before the close here today so when you can not when you have to we will see you tomorrow same that channel same that time building wealth trading in the stock market seems impossible to