 The following is a presentation of TFNN. The Tiger Technician Hour with your host, Basil Chapman. Call now. Call free at 1-877-927-6648. Hi, folks. I've got a chart up here on this Tuesday, the 31st. And I really believe very strongly that on Halloween, if you're going to put candy and stuff out, you've got to put out what you love. Because, after all, if it's not all taken or eaten, somebody has to do that. All right, so it bonds up 630 seconds. We're watching this really closely. We go to the TLT because sitting right on the pink nine-period exponential moving average. Because just on a purely, on a scale that says, where would this be oversold? Where would it be overbought? What? What? What? What? Everything about this. Look at the cascade to the downside. Each peak was just no more than a peak A, and then it fell. One peak at one bar peak, and then it comes back and breaks it within one bar. This is the weakest you can anticipate in any chart to the roll over on the right side in the dreaded H pattern. And this is exactly where you would say, hey, right here is where there should be some kind of, go to the TNX, that's the 10-year. There should be some kind of reversal. Well, you've got your reversal. At 50, well, it was just under 50, I think. Let me just check. The TNX went to 49.97. That's 4.997% on the 23rd of October. Let me just type that in there. 49.97. And what did I say it was on the water of October? Yeah, you should have remembered that. I think it said 24th. I'll call it 24th when I come back and check it. So it's already one, two, three, four, five, six sessions, 23rd. Okay, six sessions since then. And you've got your dreaded H pattern. I can do that. Let me just see if I can find it. Yeah, dreaded H is this pattern. Yeah, I'm always looking at three core patterns. Straight up, straight down. Couple formation, automation, mix of one and two and one and three. One and three is the dreaded H where it takes out the left side low and it keeps going lower. The Y is the reverse Y. The green, because it takes that out. Look, there's the reverse Y. It goes up. There's a Y pattern. Takes it out. Y pattern takes it out. Big Y pattern takes it out. And now you're looking at a failed Y pattern that becomes the arch, the dreaded H after the peak A, pulls back. Even that's an A. And it's gone below, but actually it's running a little bit. It's only down 8 cents at right now at 48.67. So this is a really important moment because in the Chathamway methodology, a technique that I developed years ago, years and years, decades ago, the Chathamway instant restart and there's no other technique in the world that I've ever seen that is even close to this. This has got nothing to do with, this is just an observation. I've never seen it before and I'm not sure, well, I understand why it's because I alphabetized my notation way back because I want to differentiate it from the Elliot wave. It has really very little in conjunction with the Elliot wave, although I know in many of Elliot waves to say, wow, you can get such clarity if you use these two things together. That's not the issue. The issue is if within three bars after a peak D, the fourth highest peak, there is another leg up. You can give it an alternate count, A, F slash B, G slash C and invariably if it goes to G slash C, there's a chance you cannot rule out. Spiritship, if the magnitude is still strong and the nine is still over the 14 and the stochastic is at 88%, then you make a little cup formation and then you go to a D and that's where you've got to be really careful. So who knows, right? Okay, so as it stands right now, what we've got is that the yields have pulled back some, but they haven't given you the clue yet because look, the green nine-peered moving average over the 14 is still very strong. To get it to weak and you'd have to see 46.30. It's at 48.65, 46.30 or lower. For that pink, they're green to go pink. So as we're looking at it now, yields are not yet quite saying they're ready. Look at this, TYX. TYX is, there it is. The TYX went to that alternate count and then it went to an F right there. And it's made that H pattern, but it's holding pretty well. The nine is still very strong. And there's your G, this is exactly what I was talking about. There's your chamois instant restart. Actually, I can get rid of this now because it's blocking out what would be chamois instant restart right there in the TYX. The thing is T bond interest rate continues contract and lo and behold, you get E sash A, F sash B, G sash C and that invariably, I've warned and warned and warned. Yes, you can get a fabulous turnaround of peak G. You saw it in trough G in this morning and what were we looking at? What were we looking at? Oh, we were looking at do do do do. We were looking at, I'll get it in a minute. We were looking at this stock and it made a trough G and the result turned out to be G and a D at the same time. Somebody help me, help me, help me. I'll find it in a minute. I should know. I should know. I'm just blanking out right now. I'm not going to blank out. I'm going to go right there and get it because I want to know that I'm talking about apples to apple, the wolf. That's right. So this is a G and it's gone to a D on the upside, up a case on the way up. So you've kind of fulfilled everything on the TYX that you need. At this point, we can easily start to see a pullback, 30 year T bond interest rate yield. This is the actual rate itself and wolf. Wolf itself is trading at, type it on the chart. Type it right there. Wolf speed is the name of the company. Went to a D right there. Look, there it is. G sash D and wolf, big wolf, big balance. Up 6.23, up 22% at 398. Hey, Dan, congratulations to Dan. Yes. So the G was coincidental to everything else that he was looking at. I did have an alternate count. I wanted to actually show you. I was going to take my show to show you. So this is something for those Chapman waivers. Look, if you get to your D on the way down especially, and then you're ready and you fail, keep in mind, you've got to count the next series of lows, troughs, we call them, in sequence as well. So this is a gray A. Why is it gray? Because it didn't go underneath that D. Otherwise, it would have been E. But the next one becomes an E slash B, then an F slash C, alternate count. That's all we're doing. It's just saying there could be an alternate count, which would give you a different mentality. That's all. It doesn't change what's there. And then there you get your G slash D. And look at that nice V shape pattern in the on balance mode. Stochastic went from single digits to 13%. If this holds, what you want to see, I suspect that you've taken something off and you want to hold some position, you should hold some position. Because the market is attempting some kind of a basing area here. It's one of the reasons why I'm going to tell you this. You see the height on the 17th of October at 3579? If it's able to hold above it, even just one day, then all of a sudden it's unbelievable. The count of the 3rd of October of 3769 comes into focus. Down, down, down. That speeds up $1.27. If you're looking for potential trading setups in the stock market, then Rocket Equities & 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 & Options Report today with a 30-day money-back guarantee so you have nothing to risk. For all the details and to start your subscription today, visit the front page of TFNN.com. TFNN Educating Investors. 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 Basil 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 Basil 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. Subscribe to our channel for more videos like this one. Thanks for watching. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com. Educating investors. Today and become a part of this educational community of traders, just visit the front page of TFNN.com. Toll free at 1-877-927-6648. Internationally at 727-873-7618. Hi, folks. Tempe got the e-mini. I just want you to draw this interview while we're live. Look, so you see that high right there, 9-30, around about 4191. You go to the lower right there, and then you do a left-side, right-side price sequence. This is what I was talking about in many of the positions that we were looking at. Let me just do this right here. Click. And there's your plum line. That's the midpoint. There's your beautiful cup. Remember, we're looking at cups and arches. Cups and arches, straight line, straight line, cups and arches. Well, there it is. Take that midpoint and put it in there. And where are we right now? We're almost to that left-side high of 4193. I think we're here at 93-25. Beautiful cup formation. Now, I'm doing this historically. In other words, this is... That was the low. That was a lower low. That went to your trough G. Look at that beautiful move off your trough G. But at the same time, what I'd like to do is do a Chapman inside wedge from a particular low point. And this guy's taking it there. And we go right to there. And then I keep the line. The whole idea is that sometimes lines, trend lines, sit there and you ignore them when you don't need them. And out of the blue, they appear as really important after being just kind of background. So this is background right now. It'll become foreground if you start to move higher again. So the E-mini went to this most recent time, the 41-94 area. It went all the way down to 41... What was that? 41-70 in this last pullback. But that slide, that was at 10 o'clock, went to 41-70. So the low for the day, I'm meaning overnight, that is, at a chaff G, right there. Oh, I forgot to do this. I drew this in. This was the 200-period moving average. Look how important that is. Look how it hit that. And then it hugged it, magnet. Oh, you can't get away from it. And then all of a sudden, you get repelled. The further away you get repelled, either up or down, it says, ha, now that magnet line is just being reversed and becomes a propellant to the direction you're going in. And look at that 9-period moving average, how beautiful it is. It goes to a little doji candle. I had this drawn in when I did Tommy's show earlier on. Some people pointed out we had that left side, right side, price-time match with a doji candle. And we would pull back to the 200-period moving average. This is going to be a work in progress. This low that was made on Friday. I'll go into that in a moment. But yeah, the questions came in. I want to get to them right now. So pins. We were doing this in the show earlier on. I said I was waiting for someone to mention it, someone in particular to mention it in the dead who is always looking at this habit at some point. I think made some money on it and then got out. Look at this beautiful move up 4.84 to 29.95, up to almost 20%. So this is, I can always put an interest. The way I always looked at it, why it's interest rate-related, but it doesn't have anything to do. The chart doesn't look like an interest rate chart. And then I looked at it and said, oh, it's a discovery engine for recipes, home ideas, style. Style's not going out of fashion, folks. And I think that this is a really strong move to the upside. It made the dreaded H pattern broke to the below 24, three sessions ago, four sessions ago, two sessions ago, it must have been Thursday, Friday, Monday, Tuesday, yeah, Thursday. They're Friday and inside Dave in the market was really ugly. This held well, had a good session yesterday and then gaps up, leaves an island reversal to the upside. And I would not have expected that a peak D could be made in this instrument in the next few weeks. I just, I would have looked at it and said, oh, a lot of work needs to be done, but a good, must have been good earnings and outlook, whatever it is. This is what you need to see. So yes, I think this is in play and it's in the area right now. I don't know about buying it in 2975. I'd probably say I'd like to wait for a bit of a pullback, maybe in 2880, but you could have separate, maybe three separate positions, a little nibble in the hair, wait for it to pull back once, but your idea is to buy it because it's acting really well in this environment. But I don't know about the question whether you want to buy it. I suspect you do want to buy it. My answer is keep it the way you do your homework. This suits you very well. You could just start like you sometimes do, put your foot in the door of Pinterest and then you can make decisions over a period of a few days. But this is great. This is what you want to see. It acted well on Friday when the market was down. It acted well yesterday in anticipation of the earnings and now it's acting really well at 2984. I like this. In fact, I'm going to put it down. I want to do a little work on this. I don't like to buy gap-ups like this. Anyway, we'll see. Now, the next thing we want to look at is a question came in about SOFA. So SOFA is the stock that we had only because I wanted something in the financials and the regular old financials like a JP Morgan or JP Morgan. Look at this JP Morgan. Even today, after two decent days, it looks horrible after Friday's gap smashed to the downside. And this is the leader in the field, Bank of America. We haven't touched it for ages. We used to have it every year for a good number of months. Sometimes almost for eight or nine months and then we'd get out of it after a very nice profit as it came down and then we'd get back in and then we'd get out of it. Oh, haven't touched it for, I think maybe it's about a year. It's just been acting horribly and someone said to me, could be getting out of business. I don't know about that because they also have that brokerage part of the Merrill side of it. So all I can say is that SOFA was the one because it was in electronic area basically. But it also hadn't, I forgot to put this in here. It had those student loans. And as I read it now, student loans. The way I thought I heard it some time ago is that they were less and less beholden to the student loans and more to other types of instruments that they were participating in. But the chart, it was acting well. This is where we got in and we got taken out and I said, no, we're done. We have to wait. And then it had, so today it's a 43 cents and 736. After really crazy, there's one of those really crazy candles you see with the big body but yet even longer legs to the outside. Just a range of 788 to about 668. I think it goes, let me just check. Yeah, 668. I mean, that's huge in one day for a stock like this. So all I can say is it's the way it acts to earnings. I don't know if this is earnings report. But I have to give it time now. I'm kind of done with the whole financial area just for the moment. I need some evidence. I want the whole week to play out. I want to see exactly what happens in the financial area with XLF. Remember, I always say that gold, watch gold closely because gold sometimes reflects the fear that big participants like countries or huge funds and especially hedge funds have when they get pretty nervous about the financial sector. So far, I don't see that here but it's not a pretty hot job except I hope I covered that. I've got a couple more questions. 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 Kegstad's Tiger Forex report. Teddy Kegstad breaks down the Forex markets every Monday using his 30 plus years of experience as a trading veteran of futures, forex, stocks and options. 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From the moment the market opens until the closing bell sounds Tiger TV 8 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 Don't forget you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit watch Tiger TV. That's TFNN.com and hit watch Tiger TV. Questions? I said CVM is in the Moonshot category as IBRX. I had that IBRX flashed on my streamer list last night. So all I do is exactly the same as we did with the others. Chapman Wave inverted Roman candle, green Roman candle. If this is able I CVM doesn't matter what it is. It's sell dash ski corporation and it's not skiing folks. This is science probably. It's trading at 151. If at any point in the next need speed now needs at least actually it's past the speed dial. Okay. It's in a different category. But if it's able to trade above 1.86 for more than 90 minutes. No, I'm going to give it two hours because of the way it gives back so quickly. Then that's really positive. 208 would be the Georgia period moving average target 2.31 would be the the next target on the upside. If it fails to do that everything under that says it's acting well. But to really get to the high of seven sessions ago or eight sessions ago. That's what you'd have to see. Another question came in. Could I look at so I looked at so far. I didn't tell you about so far what the parameters are. So so far you can see the weekly chart 9p moving average move negative. That's not a good sign. Not just narrowly but the MAC these weeks the cash is horrible at 10%. On balance volume is pretty good but the daily chart is you have to have the daily chart working well to help the weekly chart. So you see this candle with a high of 7.8 7.88 on the 30th. That happens to be yesterday. So much going on. It feels like two or three days ago. You want to see give it a little time. I would prefer to see that so far is actually trading in the eight to eight ten area eight dollars and eight dollars and ten cent area to even think about it again as something that I would buy. I gave it a chance because it was in in in an area I wanted to be in only not for technical reasons just because if the market is going to move much much higher you're going to have as far as I'm concerned you have to have the financials otherwise it's a shorter term rally to have a more sustained move. I think you've got to have the financials participating and that leaves you with bonds and all that. This was in the electronic area of the whole banking system so I thought they didn't have all the paperwork that goes with having bricks and mortar that sort of thing that's what I was looking for. So in the meantime that's what I'd be looking for but I'd hold off right now. Next question came in could I look at so let me just do this so the SMH look at this I've got a one to one let me just show you this pattern the symmetry has just been phenomenal I always do this in a way it kind of relates to a lot of what you can at TFN the host talk about but it's just forever. I've always worked with channel lines. I love channel lines it's just a whole process we also used to have Bud Robs like Bud Robs used to be here the way of looking at a channel line and saying wait for it to come back to the trend line that it left so it goes away and then wait for it to come back and that's when you make decisions and if it breaks out see how it tests it I have a way of looking at it which is I would say it's kind of similar but it's based on the channel wave methodology so in other words there are variations to it and the variations are really important look at this beautiful symmetry between the blue number of points to the downside but it's the degree I do this I discovered years ago that angles are very important I should call trade station I've never done this I keep talking about it all they need to do is take us trend line a line like that and if I grab it on this side and I raise it up there should be a little thing that I click it gives me the percentage like this I can tell that it's about a 3.5 or 4% that's about 3% arise I would like it to tell me then I can get the 618 so I can do all those I can do it visually but that's I mean you wanted mathematically so I haven't it's so easy I don't know why I haven't actually yelled and screamed saying could you please could you please maybe I will do that someday but in the meantime channel lines are very important inside track repellence and look how the semiconductor got repelled from 161.17 high it made on the 31st I think yeah 31st of July we've been short on the 2nd of August at just over 159 still short so 161.17 within about two points all time high we've had it and it went to 143.35 look at that beautiful number sorry blue line green line and what it did reverse right at the Chapman wave inside track start over inside track repellence line came down and went to the Chapman wave inside track now I'm going to draw this in I it's getting messy I don't like that but it tells you this gives you all the information that you need look this is getting into the probe repellence zone will this time will it hold that's the reason why I don't think we've made the low yet I think we've made a low I want for the semiconductors how does it test this so look at this angle the exact percentage change percentage decline same percentage angle here same percentage angle on the way up to the Chapman wave inside track lower repellence zone now it's coming into the lower repellence zone what happens next the castings at 7% well before it was in this area that's where you got your reversal but look at the on balance volume it gave you a very nice V shape turn around V shape turn around nothing yet I haven't got that it's still a little early in the in the down move for the semiconductors now wait a minute what about advanced micro comes out with earnings I think today so advanced micro look at this the dreaded H pattern fails at a peak C goes to a low low so there goes to a C minus and that's usually not a good sign it says it's showing a lot of weakness and here you are with the market down down down 56 SMEs down 4 only 4 it's not a big deal off just a big move yesterday yet it can't get out of its own way but it's at a point where it could have a bit of a bounce if the earnings or the lookout period says hey in the next three months we shoot or two months we can see light at the end of the tunnel maybe the light is a train coming along all right we don't know yet but look at Nvidia I'm not sure why it ever flips like that to the background chart alright Nvidia I was going to say it looks just like the down I mean like the advanced micro devices that's because I never changed charts NVDA there we go Nvidia there's your dreaded H pattern went through a C C minus because it's made a lower low and now you've got your trough D so what we do is we say this is a trough A higher up this is a trough B higher up this is a trough C lower than that and yes your D leg D so as I see it right now there's a lot of work that needs to be done because you've got your arch formation your dreaded H formation in one of the absolute top semiconductors and that was another reason why I felt comfort when it had that big spike to 502.66 back on I think it was August the 14th or something like August 24th August the 24th and and we were already short and that said well if it breaks out from here but we gave it a peak denotation and look out it's pulled back so all I can see is I wouldn't be too aggressive in wanting to go long so with that said that was down 62 SPS 6.44 would be right back Gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties the global major trading hubs of the London OTC market the US futures market and the Shanghai gold exchange the gold report Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU HUI, GDX the dollar, bonds the South African Rand as well as 25 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brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ I can't believe how many tax I got there but I I'm going to go to the KitKat everybody's got their favorites we've got all got our favorites so look at this this is Newmont mining look at this move down today down 90 cents at 3780 ASA one of the South African goldmine can I type it back in the den I did ASA look at this ASA holding very nicely each one's doing some GNG price one that can drift up with the tide but at 360 cents it's not really showing anything RGLD Royal Gold not a good looking chart that weekly looks terrible monthly looks lousy so it's very specific and stocks it up what's the one FMV I often follow that 123.70 down 250 what happened here all right well this one doesn't count this is Frank and Nevada Corporation gold so it must be some political thing this is what you see when I don't know where they are Frank and Nevada something's wrong with this chart so it's very specific AU AU is Anglo Gold holding okay but it's not breaking out unless it's going to become this was too low maybe in a chap we stock leg formation maybe let me just see yeah I don't like the forces particular pattern when it shows up it's great no I took out that left side can't do it that would have been really nice I would have said it's all the way to 1986 and then you've got to be careful 1852 right now that doesn't apply doesn't mean to say can't go there let's not go there based on this particular technique all right so I wanted to show you a couple other things so high grade copper look at this high grade copper stuck in the lower range this is a geopolitical commentary about this is economically geopolitical not geopolitical geoeconomica a representation of what's going on around the world and if you look at wood the ice is global timber frustrate EDF why this is going to be important it's got the inverted chap we falling is also an arch formation we saw this in gld no gdx last year was earlier this year sometime now that I made lower lows this says it doesn't have to go much much deeper down but it's probably going to test the base and that's in the 60 69 area and yet it is a 70.68 and there's that arch formation in the weekly chart that's an international commentary as well so in the meantime there's enough how can I put this there's enough rotation through our natural gas I did natural gas just now I'll do it again natural gas I think is starting to be much much better even though we were taking a look at that I said that I loved it I made the stop I had to make a stop even though we had a small position which is even that was a split position so with two little mini positions we got stopped out I like this we had UNG is the natural gas natural gas fund and look at this we got in there we put in a stop and it really gap down sharply 7 was the stop and we got taken out and now it's turning at 739 not a big deal because this is a this is a work in progress and I emphasize progress because the on balance that rally a little bit it was high each time it's higher on each low that's good the stochastic is 47% but the MACD has been moving beautifully to the upside and the price in the long rectangle formation hasn't decided to be taken out the midpoint I don't want to make this messy but I'll just have to do it the midpoint so I like I like natural gas here I think it's got something going for it for November but it's not easy to play and only that you got to be able to hold it overnight because the UNG bear there I've seen it move at night just a little bit so it depends on your pro on your platform if you're able to trade it in the evening but I like this peak a peak B the second peak a and a second peak B and this should have a culmination of trying to get to a legacy these should all be great I'm going to change them right now it should have a culmination at 808 once it hits 810 above the 808 level it's in you it's in fresh territory it's in territory that says wow now I can look at the upside it's got a lot going all the way into the 9s so I like it but that it's it's natural gas and something's been wrong with it for ages it's just a glut I guess I think that that might be wearing away but so far winter doesn't seem to be too bad in the winter in the parts of the country that have early winter so all I can see is this is a work in progress and how it went it went L the 9 went it was S for sell in the 9-period moving average then it went to L for a day then it went to S for a week sorry a week and then I went to S which is sell they went to L again today I kind of like it so the question was you and G and I'm saying to you I think it's in play but you're going to know how to do it yourself ery ery I want ery there's the question what do you think ery I can never remember ery is the energy energy bear who energy bear two times shares so this is ery energy bear so oh is this the X let me see the XLE XLE okay yeah so this is the inversion of the XLE they're in different categories altogether natural gas completely hasn't been doing what gas has done I'm just going to for the moment say heating oil is holding well it's not breaking up it's not breaking down it's in the good I want you to check that out okay so ery yeah I think I like your position I don't know when you got in but it's in peak A let me give you this here look here's you and it's a little difficult sometimes the inversion of whatever it is that you're following because of the calculation recalculation at the end of each day they don't quite make the same peaks you can miss one by a fraction so this is A that's B it actually went to a C I like it as it says right now I like it although I'd be nervous this this going into winter hmm oh I tell you what yes it's a short XLE that's real I just figured so all I can say is I this should go to a D but not always in the inversion so you get it because of the recalculation for instance this just barely went to a C and yet the XLE look the XLE has gone to that leg lower trough there okay so as I'm looking at it right now I think that your X E or Y you know what I would do it's had a really nice move I don't want to mess with your child I want to take a little bit off you know just watch it closely because if it starts to even though it's a leg C look how sharp that peak B pullback was so even if watch the XLE closely watch crude oil watch anything to do with energy but on a purely technical basis if this today's low is at 27 43 if by the end of the day it's getting close to 27 43 then I would take just a little bit off and if it closes here and tomorrow it goes one penny above 28 24 for a leg D and immediately if you haven't taken anything off take a little bit off of that point and raise your stop I'll be back down down 14 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 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what do I want to see in gold where do we see closing it doesn't matter about closing price in gold I think it should the continuous contract they have to have 2019.7 three days ago 2019.8 makes a leg D and that's where I'm going to see the big test if gold holds really well above 1990 over the next this entire week I don't see why the gold index the gold miners shouldn't at least have a pretty decent balance that's where it's going to be the big test which are the leaders in the area the dollar is holding so well it's going sideways maybe it's building sideways energy but sideways can also lead to a smash to the downside but I don't see it yet so the energy charts so far is still very positive the lines over the 14 the question was the S&P to the S&P right now I said to subscribers if we see the Dow over plus 80 after about 3 o'clock that's going to be very good action anticipating something very positive with the Fed but if it starts to pull back and we're down minus 90 or more we've already been down sharp sharp leash earlier on how we're coming back buyers are coming in as long as we're settling like this it means that the give back from yesterday we've had some digestive moment so that's what I'd be looking at the S&P right now I would like to if I'm bullish and right now we didn't add any short any position we actually added a long position so buyers are slightly more positive than bearish even though we're short the S&H's and we're short the Dow short term position new 4197 is the pink nine-period moving average can it touch it this week that's going to be the big question I just think this is a low and not the low doesn't mean to say we have to break the lower Friday but I think there's some pests that can ask that so I'm wrapping it up heading over to wonderful Steve Rhodes and I'll see I'll be back so have a great day see you a little later check out my open