 The following is a presentation of TFNN. The Tiger Technician Hour with your host, Hazel Chapman. Call now. Call free at 1-877-927-6648. Hi everyone, welcome to the Tiger Technicians Hour. And what we're looking at is, that's what I thought. What we're looking at in terms of the Dow, with up 431 on this Thursday, the 26th of May. And we're looking at the Dow at 32,056. This is really exactly what we wanted to see based on the action that we were looking at on the left side. The low of the 12th of May, where it went to, the Dow went down to 31,228. Had a nice ready, stopped dead at the 14th period. Moving average came down. And as it came down to 30,635 on the 20th of May, the technicals were starting to improve. The MACD was a little, the histogram was quite a bit improved. The stochastic was a little bit higher. The on-balance volume was higher. And because the Dow was coming down to a trough, and the DOG, which is the one-to-one short, was making a PG. Remember the chapter? Oh, I haven't done this for a long time. Let me do this now, because we have so many new people who are all investigating and discovering all the wonders of all the technicians here at TFNN. I hope I haven't lost that. No, yes, there it is. So, in the Chapman Wave methodology, we try to always identify the lowest low bar, and from that we start to count of each successively higher peak. Alphabetize them sequentially on the way up. Up a case, A, B, C, D, E, F, G. Seven peaks to the upside. Never get an H. There's no such thing in the Chapman Wave methodology. On the way down, they are lowercase A, B, C, D. It's at D. The fourth highest peak that other things can happen. So let me just, with that in mind, let me show you what we've done. We've got a peak D. At D is your objective in the Chapman Wave. You want to go from a buy signal, which gets upgraded at a certain point quite soon after the lows been made to see whether or not it's going to go from a buy signal, upgraded to a buy mode. Immediate implication is that it should go to at least four higher peaks, peak D. What did the DOG do? She went from a low in the 3190 area to the 3665 peak D. As it was doing that, I said to subscribers, this coincides with everything that we're looking at. If I didn't type this in, but I should have, but I didn't myself, but I didn't actually type it in. This particular high, we're at Rinter Peak C, and this particular high, we're at Rinter Peak D at 3665 had started to see weaker technicals, and that was another clue. So all I can say is that the reason why we went along, added to our core very long-term long position from April of 2020, we added different positions in the DIA, and we've been along and just saying, look, all we can do is our homework. The market then has to prove itself. There's nothing else you can do. You do your homework, and then you wait and see, is it going to unfold the way you've planned it? Well, here we are in leg A, but it's still a gray leg A. I'm going to change the color right now because I need to be as accurate as possible, because the stochastic's still only at 45%. The magnitude finally crossed positive. I was talking about that two days ago, and it did cross positive. That's a big sign. And that weekly had a chapter in Insight Track Propellant Zone. It went right to it at 3635, and now we're out of it. We haven't even started a leg A. This is still in its infancy, as far as rallies are concerned. I don't mean infancy because it's going to mature. I'm just saying, at the very beginning of a move, we don't know if it's going to be sustaining upside action, or we can say, let's watch the technicals. You have to see a close above. On the weekly chart, you have to see a close above 32, six, eight, nine last week's high to actually start a new gray leg A. It doesn't have to close above, just a squeak above it by one penny. So that's that. A couple of people have asked me and said, hey, we love what you did in today with the chart patterns that you were talking about. Is it possible to do a little bit more of that? Well, here we are. This is the first time that you've got a signal in the one minute. I can't believe it. This is the one minute chart that says, right here. I'm not prepared to put it down arrow yet, but I am putting a red plus sign to say, hey, be careful. Every sign says this is where you should start to see some kind of an inch a day pullback. And thank you for that information. Where was it? A little earlier on, I had asked the question because I had to shut my computer down for a little while. And I just, I could not get the, yeah, I'll look at VST in a moment. Let me do that. Yes. The pre-market price on the TQQQ, which we've trained this periodically for the subscribers to an opening call, I'd say today to buy the, to start a position in the TQQ, there's three times along the queues because it's so difficult to pick individual stocks just at this particular moment, because they're only now trying to find a base. I mean, we'll look at it in video in a moment, but really what I wanted was to get below 2760, 2763. And now let me just check. I believe that's what I typed in my newsletter and the low was 27, let me see, 2763 and the low was 2777. Is that upset? No, no, no, the low on the TQQ, what am I talking about? TQQQ, I might not have seen it because the trade station for some reason, I used to be able to pick any time pre-market and say between the hours of 4.30 and 5.30 a.m. What was the price? I haven't been able to get that. Maybe I'm not typing incorrectly, but it says 2768. And now anyone on my subscribers, just let me know because it is trading right now 2950, I mean 2760, we missed it by 4 or 5 cents. And here it is, this is three times long, 2952. I mean, everything there said, this is the moment that it should pull back a little bit. So I don't know. And I have no way of knowing because I didn't get anything in. I was just, I had 2769 or 68, 6968. Sorry, folks, that's the way it goes. What can I say? Yeah, so look, ESM 22. So we've just recycled. Now, if you use some of my techniques, look, there's nine over the 14, it's green. I would never have thought of going short right here because the nine is still way above the 14. Even though the MACD turned down and the stochastic. So those of you who use MACD and stochastic, you've got to use it with a couple of other tools. Now, I didn't have a chance to do this because I was in the process. Now, normally what I would do is I'd go, G Stash, see why? Because there was a chapel where it instantly restarted PT. Remember the fourth highest peak? If within two or three bars, it makes a new recovery high. You can count that as an alternate count. That goes E slash A, F slash B, G slash C. And now we've got a D. And now, this is really important because you finally have breakouts and you have the QQQ up 1.7%. It is finally beating the pack. And this is only a leg deep in the 10-minute job. Oh, everyone, you finished the 2-minute job. I'll be back in a moment. That was a 436-bazzle chapel. In a time of booming inflation, where your purchasing powers eroded, there's no better place to protect your hard-earned money than ain't gold. This-the-goals 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 a world-class gold project in a tail-one mining district. 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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. Toll free at 1-877-927-6648 internationally at 727-873-7618. So just to go to the one-minute e-mini chart, S&P, look at that little tiny doji right there. Now, the MACD is flattened out, it's not negative, it's flattened out though and the stochastic is still at 91%. So that's still showing strength, even here. Look, if you use just this, it's almost impossible to believe but if you use a one-minute chart and you got your buy signal and this flipped positive and went above the 200-period moving average, this whole combination right here, little cluster formation. So let's just say you only noticed it afterwards and you got in at 4005. Since then, and we're now at 438, there has not been a negative crossover. You could still be holding this possession. That's 33 points. So just these are techniques that I like to use and now I've also started to hold. I've kept, usually I would do a firm, I usually, I'm quite good at visualizing measurements so that because I remember I'm a visual person, not a mathematical person. So I can get these pictures and people say, how do you know to put in like for instance today I said to buy the TQQ under, what is it, 2763? How do you know those numbers? I didn't mathematically calculate it. I calculated by just in my mind. I said, that's the figure that I would like. Missed it by full sense or something. I don't know. Somebody let me know if you actually got it. I'm just checking now. I don't know if I haven't heard it yet from any subscribers to say they got that or not. What a pity because it's just been a monster move. This is the move that I've been waiting for in the TQQ. No, I can't get it. Once I've lost it for some reason, maybe I'll call, if I have a chance, I don't think I'll have a chance to call a trade station and try to get the pre open prices. All right, enough with that. So this is still on its way up. I can take out all these, these are useless right now for me at least the moment for the fibs. And now what we're looking at is the one minute chart, nice nine and over a 14, but we're watching closely because it's stochastic at 94%. That's what you want to see. And you want it to hold in the 90% position. So okay, now let's go to the questions that I've got. Have I, what am I finished? I don't know if I've even done that. Let me just see gold. Gold is up five at 1857. You can see the terms of period moving average. How important it's been. It just cannot cross and hold above it. It can touch it, but it hasn't really closed above it. And it's in peak C. Look at this as a GDX. The GDX is a peak C in holding well. It's up 17 at 32.77. The nine period moving average is starting to improve, but it hasn't crossed positive. If it does, you could finally see a move at 33, 32.76 right now. If the GDX actually goes above 33, I would say closes. Not just goes, it has to close above 33.43 for me to say that that's a really good action. Now what we have done, we've gotten out of the BTC. This is the Bitcoin futures finally. So we've had this. I don't want to go through a whole litany here, but if I can actually find it, it's been so long ago. Hey, where is it? Oh, that's the GBTC is what we've got. We've got the GBTC, which we've had since it was in the 12s. Oh, short. I have a caller. Oh, all right. Well, let me just go to the caller. We have Brent and Martinez. Brent, how are you doing? I'm doing well, Balfour. How are you? I'm well. Thank you. Hopefully today we start getting warmer weather, which you've probably been having for quite a while. So... Yeah, it's been a good spring. It really has. Good. So you'd like to look at the SMHs? I bought into the SOXL, so the long semis this morning. Yes. I got that at 1960 on that. I just wanted to get your thoughts on the semis. So there are a couple of things, because had I known that we were going to... I still haven't had confirmation. I just can't get that information, and I don't actually have it. So we went three times along the QQQs, because I wasn't sure just yet whether the SMHs would actually have that kind of move, and then SOXL would be the multifaceted SMHs possession on the long side. So the way you've got it, this is actually the first leg A up, official leg A, because it made a lower load the other day, the SOXL, which is the actual title of the XSL. Let me just get it. There it is. There's the direction, daily semi-bool three times. So it's the same thing as the QQQ, except it's in the specific sector, which is the SMHs. You know, this is a very interesting thing. I could totally be wrong here, but the way we're making this cup formation, remember, I do things visually as well as measurements, but the way we're doing this in a measured move, I've always wondered about it. I have my own theories, but they're not scientific theories. They're just my own building up of hundreds and hundreds of thousands of charts. What forms the quora, this is the semi-circle, the quarter of the semi-circle. Why does it make this rounding curve like a boat, like the left side of a boat, that is, we're looking at it from stern to aft. It's just impossible to, is there a mathematical way, I have a way of looking at it. If you're looking at the tide, as the tide goes down, you can have slightly lower loads, and if you're moving to the right, you're going to make this kind of curve, but why is it not a straight line? It's not a V-shaped pattern, but once it does that, and once it starts its move to the right side, you get this momentum that shifts from negative to positive, and what I would be looking at here is I take this trend line, I'd be very conservative at first, I'd take it from the trend line round about the April high, and I'd draw this in, and I'd say just to be kind of a little bit more conservative about it rather than to be very aggressive. If the SMHs, in this case the XOXL, are trading at 2182, at 1.64, up 8%, 8.25% already, and you got pretty much the low of the day, this is a spectacular entry point, except you're about to tell me you got out of all your calls and options, but in the meantime what I'm going to say is if this starts its gentle curve to the upside, if there is a break of the down trend line, a close, it can't be just a pop-up, but a close in the 2345 to 2365 area, I need speed as well, I don't want to see the quick-sharp pullback and then it goes back to 20 or something, if it could move higher, then you start to get this beautiful curve, but you also then have to look to the left side, to the right side which is the weekly chart and it says, wow, you won't even get a start of a decent turnaround in the weekly chart unless it goes to the 2560 area or higher, the pink 930 moving average, preferably 29, but this is the way that turns are made and if you're looking at the ellipse, if you're looking at this curve, so far this is exactly what you want to see. If you're looking at the 120, it's more like a rectangle that doesn't look the same way, so if you want to hold on a second, I'd like to look at a couple of things because I too have been looking at the semis, I was going to go along the semis the same way as you, with the S-X-L today who chose the other, but if you don't mind, let's put it together, I want to discuss a couple of things with you, if you've got time. I'll stay on, Bevel. Thank you, that's Brenton Martinez, California, we'll be right back. 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 XAU, HUI, GDX, as well as more than 30 different mining equities. 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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. Hi, folks, so we're going to be key in the one-minute chart and finally have got some negative action and it just says at 4037, we could slide to the 430 level, a 4030 level. A break under 4030 will be quite negative. It's a peak in the two-minute chart as well. We're going right back to Brent. So, Brent, I've got the SMHs here. I've already done a ton of work on it, and I discussed this a few days ago, and I said that the low on the 12th... Yes, on the 12th of... In the 215s, I had a higher high on the 20th, and the technicals were very strong, and that was a real good positive. But you had NVIDIA and there were a lot of semiconductors, semiconductor stocks that were really aggravating and just not allowing the SMHs to participate. We had the same thing. I'm just going to broaden out a little bit in the IAI because I want to see the semiconductors and I want to see the broker-dealers. The IAI is the symbol moving in the same direction, and they've been so weak lately. Now, today, you've got that move. So, I've got a whole bunch of levels that I'm monitoring here on the estimators if you don't mind, but I've already done the work, yes, and let me explain what I'm looking at here. This is in a leg C in the 120-minute chart. The technicals there are really starting to improve, but not great. There is 72% in the stochastic. The magnate is good. The nine is just this moment across positive, so I like that. But that's just a starting. You can't get a turn at anything unless you get the smallest time frame to make the turns like a rudder. Until the rudder turns, the whole boat is not going to change direction. So, what we're looking at here is that this is a starting position and you can see how it really drawn in. In fact, I didn't have to do anything today. I just went to it and there it was. I've drawn in the second part of this turn to the right of the quarter part of the semicircle. And now it's important because the load that was made today in the estimators at 225.47, we are so far above at 233.17 that at this particular point my suspicion is just based on looking at a few of the semiconductors last night and earlier this morning and especially the turnaround in NVIDIA. I think that the downside, I mean the people who are squeezing the short side are just they pushed their luck a little bit too far. That's what I think. And now we've got this reflex action but the reflex action could in fact turn the reason why I'm taking a little time here. Brent is because I think you might have gotten very close to the SOXL low of this particular phase and we won't know but I can tell you this that if in the next week without taking out let's call it the low today is 1948 without closing under 1920 on the SOXL if there is a move between now and next Wednesday or Thursday preferably sooner above 2474 all of these people that have been shorting are going to have to cover that is the people that have been shorting for the last two to three weeks I think you're going to see you're going to see a lot of pressure to move higher so I'm just saying I don't know how you're positioning yourself right now certainly on a move like this to take a little bit off if you've got calls taking something off is just prudent it's good money management I'm just trying to get a bigger picture says that if we were able to close on the SOXL at any point break up into the 2310 is good but a close above 2330 would be the first really good sign that I'm looking at for a while to say we could be forming a cup formation where that ellipse to the upside is just beginning to work I don't know if I've helped you but that's kind of why I'm looking at it absolutely bad so I just really appreciate your analysis this is one that I bought shares of it and I also have options which I will probably be out of they're shorter term they only go until Friday I thought about going out further and I just thought with the move in it I was able to pick them up for a really good price especially doing what I wanted it to do today but then I wanted to have my shares to hopefully be able to stay in it longer so premium wise on the options if there's a little bit of a pullback to 2138 2142 you'll see the premium suddenly shrink because I think the the puts will be accelerating because I think great now we got another pullback but if in fact there's another move towards the high of the day as we're going into 230 your premium I think that's where you're going to get the best premium probably get a better premium at the end of the day today or going into the end of the day there's another burst to the upside as they just give up and those premiums finally start to expand on the call side and maybe it'll even be a better premium that you could get tomorrow if there's a little bit of weakness early tomorrow morning so yes I like your thinking and in terms of holding the shares we'll see in the fullness of time but I think you've got yourself a really good entry point and congratulations that's really terrific it wasn't the easiest trade I have to tell you best I like to normalize things trade a little bit but I just saw what you know I was of course watching NVIDIA last night and then the market this morning and just kind of based my trade on that and the day is young I mean it's very simple you just don't know but yes I think I agree 100% with you because the cross currents like ruptides you really couldn't tell because there was no clarity because it went into a kind of a rectangle formation and that candle that the Chapman wave Roman candle that was made on the 20th in the SOXL it did trade but not for very long half way into the WIC which is at 19.30 but then it closed above it so it saved the day because the Roman candle that particular aspect would have said if you were trading for 90 minutes underneath what I said was underneath 1938 there's a good chance you can retest the low so these two sessions have been fabulous and now we're above the left side high and that's the high of the candle of the 20th of 21.65 we're at 21.59 right now but we have been as high as 21.94 so there are a lot of good signs but the day is young but I do believe that you got a fabulous entry and take advantage of it congratulations all right thank you so much Basil have yourself a wonderful day and a great rest of the weekend and a nice weekend too thank you very much and the same to you so let's just look at the SOXL on the Chapman wave with the automated Chapman wave resistance and support levels so 1929 was one of them there was a support level in the daily 20.56 was the resistance we were above that and look at the series of from 25 down to 20 21 in the weekly chart and we went under it so that's saying that these are now resistance levels you want to see them break so that all of a sudden former resistance becomes support 17.96 was the low in the SOXL in the 120 minute chart and moving nicely it's broken above the 2101 resistance so far what I can say is this is a really terrific terrific action now let's go a couple of questions I had a question about V what was it again VST was it oh my I should have forgotten to write it down was that VST believe it was VST, yes VST is Vistra Corporation Electric Power Business the question I wanted to know whether or not to add I'm going to take just a moment here because you are in the position it's just starting to show resistance when you're out with the head first my period I'm back I'm back you call us today Dave delivers his weekly newsletters every Friday with updates throughout the week you can get the technology insider at TFNN.com for only $37 in 50 cents sign up for Dave's newsletter the technology insider and get an inside look at everything the technology sector has to offer try it risk free today with our 30 day money back guarantee TFNN, educating investors biotech is booming but for how long biotech bull has room to run or has run its course trade LABU or LABD directions daily S&P biotech three times bull and bear ETFs visit directioninvestments.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 the 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 principle the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor foresight fund services, LLC don't forget you can listen to TFNN live on your mobile device 24 hours per day visit directioninvestments.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV folks actually let me just finish this up so VST I like it because of the sector energy sector but it's just a little it looks to me the technicals are not quite as strong as it should be so to add to the position I would split the ad let me put it this way I personally would like to wait if it does that if it moves even let's say the high on the 20th was 26.46 today's high is 26.45 if it goes to I know what I would do I would do two things either just start a little position here at 2614 and if it can get to 26.65 I would add another little position and I treat it as kind of a core position of the new loft that I've just added to the 26.16 would have at this point I'd have a 50 cent stop it's about a 50% stop a 5% and then if it goes higher and I add the next position I would treat this one as my core and the other one I would trade around but if you ask me would I if this is a fresh position I'd have to wait because you've got a position I'm going to say my preferences to say skip this whole idea and just have patience wait to see our test around about 25.65 if it does that because if it breaks under it it says this could be a rectangle formation in fact I am going to put it in as a rectangle I'm putting it as a high rectangle it should go down there but it's silly I mean we're way up here let's just make it as tight as possible and it's fighting two patterns one is the upside pattern and the other is the chance that it makes an arch formation right here and has a little bit of a dip to retest the 25s I'm thinking that's kind of what it could do right now I could be wrong about that obviously and that's why I had that other position which says double hand and add a little bit 26.55 something like that and cheat this first when it's a core position and trade around the other but because you're really in it I don't know why you want I wouldn't want to mess with it obviously you've got a really good gain then you could just have a little fun but other than that just have patience that's what happens so I'm going to put VST and wait oh wrong page VST wait oh I did write it down it was on a different page wait okay so that's it the next thing is yes let me just show you this because there's so many people have asked about it I haven't had an intraday webinar just a trading webinar like Larry had the other day very successful one I haven't had one of those for ages these techniques done let me explain this technique you see what I've done I've done it earlier where did I do it you see this pattern I put a rectangle from that peak G high it doesn't even matter what it is or why I'm just showing you patterns right and what happens is it pulls back finally the green dips under the black to go pink and comes back again it's just kind of going sideways I quickly draw the rectangle and then I draw a cup formation because everything here says that there should be some there was such a powerful move and there's a powerful move like this you tend to see a rally towards that high and then I do the left side right side test let me just find my vertical line if I can I move them around a little bit that one to that one and look how weak that is look how weak you've got your peak D and you pull back sharply once again I'm not even going to tell you what it is until I'm finished discussing it and then that 200 period moving out which you couldn't care about until you hit it and then you broke down at 830 you had the chapter of Roman candle you broke to the upside close you remember you got two bars and was to close above this this candle is high but it fails it has to start restart and then start makes a peak ABCD pulls back but the rectangle here is exactly what we're looking at we're looking at if I to measure left side to right side from there to here you'll see this is a lot weaker and it has started to pull back so you've got your peak E but there is such strong momentum to the short term that if you start to look right here at the two minute chart you'll see we're just beginning an arch formation for the dreaded H what's the dreaded H pattern in the Chapman way that's this pattern right here where I always like to look at straight line up or down cup formation or arch formation just those three patterns and you can mix them up one and two one and three this is one and three the dreaded H because if you take out this left side low you can go quite a bit deeper so here we are we're looking at arch formation arch formation there's a one minute chart there's a two minute chart but the real thing is that you've made a peak D in the ten minute think of this as a one minute is the daily the one or two is a daily five minute is the weekly and the monthly is this ten minute chart right there's I mean talking time frames so here we go we're going peak D still MACD is strong 9 way above the 14 stochastic is at 92% but you did get this amish pattern on the on balance one and this says this side is a tad weaker just a tad weaker than that side so that says monitor this closely and all you can do now is use your shorter time frames so the short time frame says whoo it's still green in the two minute chart who knew that you can go from 4005 or 6 whatever it was I said and even here 40036 we still haven't got a cell signal yes you did in the day in the one minute chart but you haven't yet so this is where I'd like to do I'm a little sluggish about doing this because I have so many other indicators that work nicely but look much of we've automated support level in the two minute chart 4030.13 boom it ran up what's the resistance 40.42 boom it ran up and fell but now you've got a higher 40.31 support level and you can see the 9 is still above the 14 this is still in a buy mode there's nothing to do yet but just watch it a little later we might start to see the failure so the pattern that I talk about is lowercase H they can then go to a lowercase M is the pattern that I automatically think of and I say okay let's draw that in so I can't I don't like to draw on a chart that has the automated levels so I'm going to draw it right here so this is the H pattern we've started one H going to this particular low it's really important is it going to make the cup formation right here so this is where money management says hey I would exit at least part of my position and I would stay in one position and I'd make this stop in this particular case 4031 make it 4031 just for the moment and all you can do is wait and now what we've got is we've got a rectangle formation that's continuing and you've got to have patience you've had a whopper of a move and it's done as it's taken since 1023 to right now to digest in the narrowest of levels you're going from 4042.75 4042.75 to a low of 4031.25 and you're still you're still in the rectangle formation you've got to learn to have patience you've got to learn to have patience a rectangle formation I'll be back sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at TFNN you'll get advice and guidance from the authority 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 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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 this segment is brought to you by Think or Swim for more information just click or swim banner on the front page of TFNN.com Hi folks we're back so I wanted to say my expression is a rectangle formation can last so much longer than your patience it goes right to the door and you think it's going to break out so you go along ah ah ah it turns around and it flips and then it goes down to the bottom you think it's going to break down goes right to the door and then flips and goes back again so this is very important the e-mini at 4,039.75 4,039.25 we're looking at it now I always like to look at the bigger picture the bigger picture says that the 10-minute chart has made a peak D taking a bit of a rest if at any point during the day and we spoke about this I don't want to go through the VIX index but at any point during the day if the S&P can crack 40.50 30.60 and hold above that that's going to be a squeeze into the close my thinking right now is that a little bit of a digestive phase is going to be in order and ah we'll have to see this kind of rectangle formation the longer it lasts the greater the chances are that it will pull back quite sharply so that makes 40.25 kind of the area to monitor very closely let me just do this before we wrap up we've got FXI which is moving this is the China BIC caps nice move up it's not good enough yet but it's a really good sign at 30.51 if it's able to trade above 32.50 by Monday that's going to be a good sign rather than sliding back into the 29s and BABA Alibaba 93.13 up 10 up 13% this hasn't made a leg B yet but it will and at 50 period moving average of 95 is strong resistance rectangle is formidable coming up just as we're looking at it in the E-mini it's no difference I will it break into the 105 area I've got a feeling it's going to look good and then it's going to stall and just chug around until it's really just to 107 that's a lot a lot higher this is full consolidating and it's going south so I'm going to hand you over to you to be a wonderful show as always don't forget Tom and Brian's got a workshop coming up you can create something like this and we'll see you after fun