 The following is a presentation of TFNN Trade what you see with Larry Pezzavento free at 1-877-927-6648 or internationally at 727-873-7618 Now Larry Pezzavento Okay, looking good Billy Ray feeling good Lewis. Well, we'll start off across the pond taking a look at the German Dax by the way the the footsie if you're ever trading the footsie. That's mainly European stocks. There's very few London or UK stocks in there So keep that in mind, but take a look at that. You can see here We had a pretty nice run here with this three drive pattern But look where we're looking at here on the daily chart for the Dax folks You can see we have the big ABCD pattern up at the top at 12 6 12,000 We came all the way down to 11,250 and now we're heading up towards that 12,100 level which is the ABCD structure Which would make this a Gartley and that would also be a head and shoulders pattern and it will also be a 135 pattern so there's going to be a lot of things happening at 12,100 in the Dax so pay close attention to that. We do have a holiday coming up It's not It's not celebrated of course any place other than here So the markets will be closed on Monday. They'll be trading glowbacks, of course So it's going to be pretty active. I think we have a new moon. This is a super moon today So that there's another thing that'll make things a little jumpy and we're certainly getting a lot of action as we go through here Now I wanted to bring the look at the footsie on the 60 minute because we're really close to a ABCD pattern here in the footsie You'll notice you'll see it a lot easier here when you when you look at that 60 minute chart You can see the nice pattern effect. You can see the ABCD's on the downside that came in on Monday and from then of course, we've had a pretty nice pretty nice little run here Into this week, which is good. Remember we had a big ABCD in the S&P down there 2810 and now we're 130 handles higher and we've taken out the highs of The last weeks up here at this Fibonacci number So we're going to see if any of these things, you know, make any difference Now there's one currency that we don't trade very often that looks very interesting here folks Let me get it up here. So you take a look at it. This is going to be one One second, please Hold on. All right. This is one. It's uh, just a minute. We'll get it up here This is the old New Zealand dollar Okay, uh, you'll notice this is also known as the Kiwi, I believe And you'll notice the really nice ABCD pattern. We have spot down here at 63 Folks, you're like look look at the 1618. I mean, it's a it's a daily chart You know your stop you can be 62 80 wrist is for like 25 to 30 pips. Look how many days in a row you're down and It either stops right here or it has no friends at all. So, uh, you know, it's it's a nice pattern It's a perfect ABCD. You made a perfect 61 percent retracement on the bc swing and you made a perfect Uh, you know expansion of 1.618 on the uh cd swing that that's that's mother god in country You got a whole bunch of things and it's all about risk control. You don't know whether it's going to work or not But that's it. I don't trade this. Uh, the pip spread on this is a little high It's around I think it's around six pips most places some places probably a little bit more But it's one that looks, uh, you know, very very interesting Now, let me talk to you just a tad here about the open interest. Let's get this Get this gold chart up here from the last couple of days just to see where we are you'll be able to To see what's going on here This is pretty much, uh Where we are today, uh, we had a nice rally up here A nice abcd correction here the open interest in the gold and silver has been dropping all week big drops yesterday again And so that's not a good sign and we had that weekly gap on silver I believe it's at 17 60 because it you know had a running gap up there Uh, whether that's going to mean anything or not. I don't know but open interest I mean that tells you whether there's players coming into the market And they're not if you remember we've been reporting here for the last two or three weeks About the open interest that's been dropping in treasury notes and treasury bonds and they've already started to move You know a little bit lower i.e Higher interest rates not lower interest rates A lot of things talking about the negative interest rates and How important it is and they had some millennials on bloomberg talking about it yesterday They thought it was a really good idea Negative interest rates. Well, we'll let the history decide whether that's going to happen or not But uh, if someone can find someone that'll do that, please send them to me because I have a special deal I'm giving out a toaster if anybody opens a $10,000 account at negative interest rate I think it's a pretty good deal for them Meaning there's no guarantee that they're going to get their money back, but they will get the toaster folks Be realistic here. We when these people start feeding you, you know When they start feeding you tripe and it and it's and they tell you it's filet mignon You gotta know something's wrong negative interest rate has to be a ponzi scheme. It has to be You know, I don't care Let's skip on some of these charts Boys and girls, we made a major bottom down there slice for slice on the major bottom On the major bottom down there. Hold on one second and we'll get this up here a little bit We had a pretty good bottom form in the The stock market. Let's just get this up here. Let me move this over here. That was back on Remember this was Wednesday. Let's get Wednesdays up here. This is a 15 minute chart Because that's what I look at when I'm doing these things If you'll get up here, you'll see we have a really nice You can see the the that bottom there on the one Wednesday That was a 50 percent retracement from the low we made at 28 10 On sunday night when we gapped down 800 points, uh, then we rallied up to 2,990 points. We pulled back halfway. There's 50 28 50 the right at 50 percent and from then on Since wednesday thursday, this is what's been going on. We've been making three eight two retracement So you don't see three eight two very often except when the market is really strongly trending Well, let's just carry this forward those of you that don't believe in fibonacci numbers And i'm sure there's some people out there that don't let's just take a look at what happened All during that time we'll just see what's happened over the last two days of training and you'll be able to see That each of the corrections that we had was three eight two all of the major corrections were three eight two There was four of them and of course now we're up here at 29 44 We're taking out the highs that we made, you know last Through of the seventh that came in at 29 44 we hit 29 46, I believe last night And it seems like we're still Moving higher, but there's some there's some small divergences, of course Because the uh new york composite is lagging behind now It's going to catch up a little bit today because this is behind by just a little bit But it's still not going to be anywhere near That uh 61 percent retracement that we're seeing in the dow Jones industrial average Dow Jones industrial average and also in the uh one for the S&P and dow Jones have both made the a b a b cd patterns You know relatively easily you can actually see here the the dow e-mini here Would get this up here and take a quick look at it. You'll be able to see what the number is It made it sometime this morning. We'll take a quick look here If you're not currently using the taz profile scanner when looking at setting up your trading opportunities Then your arsenal is short a mighty weapon The taz profile scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks etfs commodity futures and forex Heated by steve doll taz understands that in today's technological world the use of top flight software Applications and technical analysis expertise is essential to successful trading in today's market You also gain access to the webinar that steve doll and tom o'brien just hosted the best way to use the taz profile scanner to profit This webinar archive is available for all subscribers Immediately upon signing up all new subscriptions also come with a 30 day money back guarantee So you have nothing to risk start your subscription by visiting the front page of tfnn.com today And you'll find the taz profile scanner under the services tab sign up today Are you in the market for buying or selling real estate in the bay area including the surrounding st Petersburg tampa and clearwater markets tiger real estate LLC is a firm that has extensive experience in the tampa bay area Whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property Tiger realty has the experience across all areas of real estate in the tampa bay area to help buyers and sellers Make the most informed decisions across all price levels from the price You should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating Tiger real estate can help you make the best decision when it comes to all areas of the market Before you make one of the biggest decisions of your financial future call tiger real estate LLC today at 727 329 83 22 or email us at tiger at tfnn.com. That's 727 329 83 22 call us today Many of our new listeners have heard about the tiger's den The tiger's den is a lively community where professional traders and investors can eat exchange ideas and information in a comfortable moderated atmosphere Hear all of the tfnn shows plus see all of the charts as they happen live and have access to archives of all of those charts You can test drive the tiger's den absolutely free for 30 days and greatly enrich your knowledge of these markets And how to make your money work for you details on the tiger's den or on the front page of tfnn.com tfnn has launched our brand new website You can still visit us at the same tfnn.com URL But when you do you'll see a new and improved home page with a much simpler navigation Whether you're watching tiger tv live in high definition or just accessing your newsletter subscriptions We even have new pricing in six months and yearly options Check out the new tfnn.com now and experience all the upgrades tfnn.com educating investors Call now toll free at 1-877-927-6648 At 727-873-7618 By the way folks, we uh, you should hear the sound of one hand clapping for marshal in the room yesterday when he talked about the garterly pattern in the December silver at 1865 It broke 55 cents And uh, was a heck of a nice trade marshal god bless you on that one that was i know some of the people did it because hey They dropped me an email And i looked at it in platinum, of course we were selling that up around the 9 38 level it broke a thousand bucks and what we did decide we lowered our stop to protect the profit And it went back and made a new high today The only reason i'm not selling it is because it's a friday into a holiday And who knows what's going to happen. We've got some really big astral things happening over the weekend And of course with this super full moon new moon that we're having right now There's going to be some incredible Volatility it looks like most probably my guess is and this is this is my guess and it's always worth less than two cents Is that they'll probably have something firm About the trade deal uh over the weekend and it's it might already be built in the market or not I don't know but we'll see the overall stock market even though the dow jones and the s and p are pretty strong And the naztags doing pretty good too, but the overall New york stock exchange index which is the bulk of all the stocks is not doing very well at all It's hardly above the 382 retracement whereas we're hitting the 61 percent retracement So in all the other indices Okay, now i wanted to cover something uh just a little bit here And that's here with this i want to get this german bond up because i want to spend just a second here On the bonds and notes because the open interest is dropping in both bonds and notes Yesterday on the two year the five year and the ten year there were substantial drops in open interest folks That means players are leaving the market So the only movement when the prices go up it's short covering It's not new buying the same thing we're seeing in silver the same thing we're seeing in gold So those are very very important things to look at so These are things that you know longer term they may or may not mean something But these are the technical things that I look at and I have to report them to you You know sometimes they work sometimes they don't but open interest is not a good thing You you can't trade it on a day-to-day basis, but it's an alert to say hey You know the game's changing here a little bit. So just keep in mind that that's a very very important important factor to to look at that's At least in my opinion it certainly is I think it would be really Really important here the other one that I wanted to bring to your attention is this one right here That's extremely important. I mean super mucho gusto important and this is the silver This is where we were Sunday when I saturday when I did the letter and you'll notice here we were trading at 1739 in the spot silver And we gapped up to 1760 we jumped up 20 cents We took out the previous two weeks high and we left a weekly gap on silver and silver rallied all the way up You know to 1872 Which was then we backed off 50 cents with just basically a normal correction But the fact that we left a weekly gap on that is very very unusual and as a matter of fact Why don't you go back and look the last time you saw a weekly gap? And the only one you can find is if you go back into september of 2017 we left a weekly gap And then the market filled the gap the next week and it immediately dropped from 18 All the way down to 15. So this gap that we're looking at here Is extremely important because when we go below 1760 if we ever do that's going to to uh To really uh, to tell you that the silver's going to have a heck of a correction So whether that happens in my life term or not, I'm not I'm not really sure getting back to the bonds And negative interest rates folks when I went to work for Drexel back in 76 There was a gentleman there from warden school of business mike milken who had been there since 73 I believe and he had presented to Drexel Burnham the idea of Selling a high-grade i.e. junk bonds and changing the names from junk bonds Which they were always called to high yielding bonds He got the nickname the junk bond king because here he was in Beverly Hills at a nice little boutique firm And everybody thought you know, it's not going to be very big But all of a sudden these things became very very popular and what happened was we had interest rates If you remember in the mid 70s the interest rates were going very very high they they peaked in 1980 81 or 82 at t-bill rates of 13 percent. Well, our t-bill rate now is 1.3 So there's been a slight correction in that that's a 30 37-year bull market in negative or in lower interest rates So he was at a time when people couldn't get financing and that's why it was difficult So the only way they could do it was to issue these high yielding bonds Well, once they were called high yield Well, then they could be put into portfolios and stuff like that and he did his best To change it and he had a lot of people that were detractors from him because He was making a great deal of money if you want to read what happened during that time The book to read is the den of thieves by james steward. He's on cnbc all the time Is it I think he's a reporter for the new york times or the wall street journal? I'm not sure which one but he does some really great research and it's really a good book the book when they Oh, what was the first book? Oh shucks Oh the first book was the predator's ball that was basically scripted for Milken by a special reporter So that's not really a good indication of what happened at Drexel. But the way they The way they pretty much david you're right. It's like liars poker But the way they made their money at Drexel when usually when you're a bond broker or stock broker and you've got to be listed, of course at the sec and and the NYSE and all that stuff, but When you when you sell a bond you're selling you say a $10,000 bond You're going to probably make maybe $100 on it. Okay with high yield bonds It was different because the they had their own market and he was the Drexel Burnham was the market They had all these guys a little milken and Warren trep and all the other fellows that were there Milken's brother Lyle and you know these guys were a tremendous salesman and someone that had a bond to sell High yielding bond They would come to Drexel Burnham and say look I've got my high yielding bonds to sell And they they were their their deal was well right now the market's a little tight You know I can probably get you and they would give a figure in other words instead of making like a hundred dollar commission On a $10,000 bond they might make an eight or nine hundred dollar commission. It was that big I mean the spreads were just huge But at the same time on the other side of the room someone calls in wanting to put 10 million dollars into high yielding bonds because they've got a good yield and things are looking better for this company But the market is really really hot And all of a sudden that same bond that they sold at a big discount on the left side of the room was now selling at the Right side of the room for a hundred dollar premium So you're talking about a 20 percent 20 percent haircut on a $10,000 bond. They made two grand Instead of the usual hundred fifty to two hundred dollars and that's where they uh, you're right David. That's why it's a license to steal Yeah, that's that's exactly that's and it would still be going on to this day if he had not gotten into the the insider trading with the warrant, uh, what's his name uh, sluts not slotsky. What was his name? No scots my friend, uh What was the guy's name? uh Oh, I can't remember what to get the gray matter working again ben stein. I know ben stein very well He I had his I had his account great guy eight seven seven nine two seven six six four eight Larry Pezzavento has just started his brand new service Fibonacci 24 7 and he's already delivering content to his subscribers on a daily basis when the markets opened and even on weekends Each monday you'll receive larry's written report that provides detailed commentary and a summary on the charts and videos that larry sends out And throughout the week when warranted larry will send out via charts or videos or both the key markets that he is watching during the day This will be up to the date active trading information that will help you in your daily trading In larry's first week alone He sent out 25 charts six videos and a full report to his subscribers in just one week If you're a technical trader that uses patterns and retracements to trade then larry's service Fibonacci 24 7 is something that you must try right now new subscribers can get a full 30 day money back guarantee With nothing to risk sign up now to larry pezzavento's Fibonacci 24 7 by visiting the front page of tfnn.com under trading newsletters The path of least resistance is david white's daily trading newsletter And if you're looking for active trading ideas then now's a perfect time for a 30 day free trial to this powerful daily trading advisory service David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter Using a combination of equity trades along with options David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted Don't miss out on this great chance to get a 30 day free trial to david's daily newsletter The path of least resistance with no obligation to pay anything David has been delivering solid recommendations for his subscribers recently And if you'd like to see the type of newsletter he delivers every morning Then visit the front page of tfnn and you'll find the path of least resistance under trading newsletters For all the details and to start your 30 day free trial today log on to tfnn.com now Tfnn is excited about our new software charting program the art of timing the trade chart 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 Okay, folks. Uh, anyway, I think that was the end of the comment that I wanted to mention I had a chance to work at the milken group My my one of the director that I worked for Drexel Burnham came in one day And said that they had expressed an interest because I was always there early in the morning when they were there and They assumed that was hard work, but I didn't have to work that hard But I decided not to when they told me he said if you do it He said it's the dumbest thing you ever want to do He says because you don't want to work that hard with two little kids and I was making some pretty good bread anyway So it didn't make a lot of difference Take a look here about the grain markets. Uh, marshall has just told us that he's long some Christmas wheat. I actually like that. I'm waiting to buy Some corn we're trading down around 371 today I'd like to see it get about 10 or 15 cents lower, but we're over this super new moon So if you wanted to buy corn just on the lunar thing, it would probably be not a bad not a bad idea I think we're trading at 369 this morning I'm not doing that because I'm doing some other things in these financial markets as you could imagine Seeing all these numbers and all the astrology stuff coming up. So that's not a bad idea There is one really interesting one that uh, that looks really good. And that is the uh, Christmas soybean oil If I can find it and there it is Let's get this up here because we went down yesterday and we hit that bottom of that line Oh, shut the front door. There we go. We got down to the 26 20 level 26 30 I think was the low we're now trading at 28 70 and change so the risk on that is pretty good now This is a soybean oil that is roughly 20% of the soybean crop and remember folks This is the end of august. The the the crops are pretty much done. The only thing that can screw around with them now is some Wet weather and harvest or an early frost and then there could be something but uh, you know, there's uh, you know, there's they've been hurt very badly by the tariffs as most people have been and and now it looks like that the chinese have uh, Yelled uncle and so maybe that's going to be the thing that sends this market Into the stratosphere. So we'll see whether that happens or not Let's move on to one other thing that I wanted to mention About the commodities and that of course are these these hogs. They're they're really trying to get down here We've tested this level Thanks to our little friend ruby here. We got down again and we're now trading a pretty good quite a bit higher this morning so that's a sign that maybe the the The catharsis in the hog market could be over if there's one thing we could always remember folks about this is that if you would If you would just remember to take the news when it comes out about being bullish or bearish Just like the news on politics take it with a grain of salt The good part about being in technician folks is you look at the chart and it's telling you what they're doing They can't hide from me. They can lie. They can cheat. They can give you misinformation, but they can't hide Just like in the open interest when the open interest is leaving the market that's screaming to you Hey The boys are leaving the restaurant the food's changed So we got to remember this is what's happening in silver and gold And it's also happening in the in the interest rate markets folks You know When you do this business for a long time, you got to use just a tiny bit of common sense Does it make any sense in the world for you to give your money to somebody that's not guaranteed? Sure, it's guaranteed on the paper that's printed on. Yeah. Well big deal that is To give them the money and you have to pay them for holding the money If I told my grandfather that He would look at me and he tapped me on the head with his little cane and say fatte fubo and that's italian forget wise I mean give me a break man. That's that's that's just silly That's common sense read the book the autobiography by Bernard Baruch and he goes through some of those things that have happened and he says in there One of the greatest scams in all of wall street is to inflate something to a high price And you can get suckers to buy it all the way down and we've seen this all through history Doesn't make any difference whether it's global crossing or world calm and ron doesn't make any difference Yeah, just look at some of the some of the great. Look at general electric. What a great country company used to be Eastman Kodak, you know directs, you know, Deutsche bank. You're absolutely right You know, they're they're all there, you know, I mean you just got to you got to be very very careful And that's about the end of that lecture for the day. Let's move on here to another one here We've had some markets moving around jumping around quite a bit I wanted to bring the sugar up too because the sugar is coming right down to that bottom again So ruby, I want you to be really careful dear because anything below You know $11 would not be good and the reason for that folks is look at the bottom You've got a double bottom down here. You've had a triple bottom actually now And there's could be a triple bottom forming as we speak because we're down here at the 1120 again But you see right below that that $11 where it says 1.618 That's the line in the sand folks. You remember the line in the sand with the Iranian thing That is something you got to pay really close attention to when you're dealing in technical analysis because when you're dealing with the Fibonacci spiral starts at 382 61 7861 1.27 1.618 That's when the spiral in so past 1.618 Is a very very very troubling sign So you got to pretend to yourself that this is what you've got to do now We've got one other market that is really in a Point of interest right now and that of course is the euro We've been waiting for the euro to get down to this magical level here Again, you're going to be able to see the 1.618 level But this is very important and I'll bring this up with the US dollar because this is how we started the week With the US dollar backing off and now you can see we still have this potential here We're trading at 10 30 One 10 30 we can and we're below we're matching those lows that we made on august 1st And if this doesn't stop at a double bottom, which I don't think it will and but it could And but if it stops there, it'll it'll wash out all of those All of those longs and then at that one One 1010980 is where you'd probably want to be looking at it but below 10950 That's sayonara, you know sayonara. Goodbye Japanese vile kandias. Goodbye in spanish You know below 1090 is goodbye euro So That's the way it looks like when I was in medical school I did go to medical school for a few months before I decided didn't want everything to do with those cadavers The old professor said they had a Condaver there that had a ruptured aortic aneurysm, which is the big vein right in the big arty right in the middle of your body And uh, he would say, you know that Sayonara is goodbye Japanese vile kandias. Goodbye spanish ostila wego is goodbye in mexican But the busted corn busted aortic arty artery is goodbye in any language Professor Preston Buchanan Simon from the University of Indiana. Okay, let's move on here to One other one that I wanted to talk about and that is the commodities that we got to remind ourselves because we're still coming lower In coffee and sugar and some of these others And if you'll remember this crb index that we looked at it's trying to make a bottom down in here This is going to decide the whole game I really believe this bottom Is going to hold because if this bottom doesn't hold we're going to be looking at deflation and deflation is not good boys and girls eight seven seven nine two seven six six four eight If you're in the cd market and looking for a secure investment The tiger first mortgage program may work for you The security for these first mortgages are building lots in the tax opportunity zone in st. 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If you would like more information about the tiger first mortgage program, you can call me at 877 518 9190 That's 877 518 9190 It's amazing to think that tom o'brien started his weekly gold report 17 years ago with the first issue published April 7th 2002 when gold was trading at under $300 per ounce gold peaked at more than $1,900 in 2011 And after spending many years consolidating at lower prices gold may be poised for its next big run Tom o'brien publishes his weekly gold report every monday morning for subscribers Consisting of coverage of the xa u hui gdx the dollar bonds south african rand as well as 25 different mining equities with specific buy sell recommendations As of april 1st of this year the gold report currently has eight active positions with an average Unrealized profit of almost 8 for each open trade new subscribers get a 30 day money back guarantee So you have nothing to risk for all the details and to start your gold report subscription today Visit the front page of tfnn.com. Don't let gold's next big run pass you by sign up today Will the smp 500 continue to climb for bold trades on us large cap stocks in either direction trade spxl sp u u or sp x s Directions daily smp 500 bull and bear Leveraged ETFs direction leveraged ETFs an investor should carefully consider a fund's investment objective risks charges and expenses before investing A fund's prospectus and summary prospectus contain this and other information about direction shares to obtain a fund's prospectus and summary prospectus call 8664767523 Or visit direction investments dot com a fund's prospectus and summary prospectus should be read carefully before investing An investment in the funds is subject to risk including the possible loss of principal The funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services llc The bull bear binary option hour next on tfnn Okay, folks as we were talking about the euro let's switch our game plan over to the Uh us dollar if you'll remember we talked about the big drop that we had remember on friday Of the that's when the euro was rallying up to 111 85 We stopped right at that trend line, which was a 78 percent retracement of the low from august the uh 12th And look at it where we are now. We've already popped up above that again And it looks like we're going higher folks This is set up to close up here around this 99 Um 99 in change level. I don't know where it's trading right now But the importance of this 9800 level in the long-term chart of the us dollar index And this is your homework for the weekend. I'll be doing that for the newsletter But uh, you really want to watch that because that is a monster 61 percent retracement that's held for a long long time in the us dollar there at 98 and change And it looks like we're getting ready to close above it today. I don't know if it's still where it's trading right now But it's most probably getting ready to do that. So above that 99 20 level you could easily see You know this thing go, you know totally wacko because it certainly could do it without any trouble at all It's a remember. It was about what seven or eight years ago when a guy came with 98 42. Thank you very much marshal But it was a few years ago think about about that one was 2000 and uh 12 or something like that when mr. O'Brien came out and coined king dollar And the dollar was at around 72 at that time and you can see where it is right now Uh 98 so it's had one heck of a run. It looks like it go could go even higher Some of these markets that we're looking at I already showed you the new zealand dollar Hey, that's not a recommendation folks by any stretch of the imagination. That's just showing you a pattern I have never traded the new zealand dollar. I know this pip spreads around six, but I don't really I don't I don't really pay too much attention to To that the other one that looks really interesting. Of course here Is the platinum? I want to bring this up because Someone's asked a question about it because what we did is that we had a Really nice run in platinum. We sold it right near the high yesterday. It broke a little over A thousand bucks, which was about twice our profit objective And then it went back and it's made a slightly higher high today up about two dollars more than it was yesterday The gold has not done anything the gold I'll move to the gold right away because I know we're getting ready to End the show already. So hold on. We'll take a look at the gold here Folks, I really have a strong opinion here on gold With with this drop in open interest all during this time here And this is a re that retracement level there on the 29th. That was a 78 percent retrace You can see that on the far left That was really spot on you had a three drive pattern. The old high had been 15 65 We all we went all the way down to 15 28 And so I think that what we're going to be looking at here is a rally back today, which You've seen this right now. This is what we're looking at for today We did a special video on that one and also silver last night And uh, both of those said this was most probably heading a little bit lower I think we're trading around 15 34 right now But there's a strong probability that this top that we've made here in the gold market Could easily be something that would be would last a very long time Now I want to I just prepared this during the last break. So you take a look at it Here is the weekly silver chart that we talked about just a little while ago I want you to see that bar that's current. You notice that it left a gap there at 17 60 Folks, you don't see weekly gaps in these things very often But when you do well, some of these you'll see gaps on them because of the This is december silver. It's not it's not the rollover month You see this is siz 19 that means december silver going back several years and you can see it was very thinly traded at certain times But that gap is at 17 60 in the september silver So uh, we're rolling over to december now. So watch that but the open interest has been dropping and substantially not just A couple thousand contracts here and there they hit it pretty hard on a couple of these days That's that's the longs are exiting the shorts are exiting the market That's uh, you know and longs too, but people are they're leaving the market and it leaves it vulnerable because we don't have new New players coming in, you know, so the restaurants run out of food In both the notes and bonds and also in the uh, golden silver and platinum and copper But uh, you know this you can't trade off of them. You got to trade off the bar charts Those are the ones that make the uh, make the interesting thing to uh, pay close attention to at least Let's take a quick look here at this british pound because it is held up relatively well here. We're coming down here. We're testing, uh, the 121 22 and change Level one more time. It looks like it's going to hold that level We have some, you know news coming out of uh, whatever that political stuff is that they're I don't understand it, but uh, they're going to try to do brexit or not Can you imagine this they did this in june of 2017 and and nothing's happened here We are two and a half years later and nothing's going on. That's just uh, Just absolutely insane to me. That was our best trade of the year back that day That was when the pound hit 150 That was a 61 percent retracement on the weekly chart with an abcd on the daily And we went right into that brexit that uh, you know, we had to take the risk But we thought you'd have a hundred pip risk and boy, it was a it was a really a big one So we'll see the one that I regret the most folks And I know you shouldn't think about trades that you miss but to buy that gold right on the bottom like we did It only makes 75 bucks I should they should take all six of my licenses away from me for that one But uh, sometimes you win sometimes you lose anyway We'll move on to a few other things here that I think are relatively important to maintain Really is that us dollar today the euro's gonna I believe the euro's gonna hold the one the 110 or just a little bit below that and then reverse But if it starts to accelerate below that 110 level down in the 109 fifties There's a major major thing happening and that's the breakout of that long-term weekly cycle in the us dollar That's a big one. You want to pay? Extremely close attention to that. I wanted to show you here. This is the This is the composite of new york's NASDAQ composite the big one and this is where we were last night as you'll see today We'll be back up against that line that downsloping line today And but the other markets are already touched the 61 retracement. We did it again in the s&p The old high On the 20 on the on the 6th that went on went on on the 13th was 2942 2944 we got to 2946 And we did the same thing in the dow Jones. We did not do it in the nasdaq russell extremely weak It doesn't look like it wants to go Very far at all and many of the other indices that we watch Of course, certainly not been rallying very much But this news comes out takes a little tweet here a little tweet there and the markets can go A lot higher or a lot lower. So you've got to be very very careful as you Go through some of these markets that we're looking at. I still believe well, let's not get into that We covered the gold we covered that. Well, here's here's the other one here on the gold I wanted to show you that this was the one in the gold that was happening Well into 29th when it made that big run there, you'll be able to see it This was one of the videos that we sent out that before it happened, of course Because it doesn't do any good if you send out after it happened But you can see the three drive pattern that occurred at the 78 percent level got a really nice abcd A beautiful expansion the high to high is perfect mother god in country 8779276648 I'm certain you are or strive to be one of the best of the best at everything you do in life It's the most common trait that we tigers and tigers share If you're looking to become the best of the best when it comes to managing your money Let me teach you to do what most wealth managers tell you can't be done Which is how to time the markets I'm Steve Rhodes author of mastering probability and for the last 12 months Timer digest has been tracking my newsletter signals Which have earned me the ranking as their number one market timer in the nation for the s and p 500 for the last 12 Six and three months timer digest also ranks me as the number one market timer for gold as well The fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best At what I do sign up for mastering probability today by clicking on the newsletter tab on the home page of tf and n dot com And get immediate access to workshops where I take you step by step How to use an extraordinary set of tools as well as provide great market calls to sign up today If you haven't checked out the newsletters page of tf and n dot com What are you waiting for all of the tf and n newsletters are informative up to date Affordable and a must have for every trader looking to gain a competitive informational edge in today's markets tf and n newsletters cover every aspect of the markets to offer you the very latest in market news Plus new subscribers get to test drive our newsletters risk-free for 30 days From all aspects of the markets including stocks bonds metals commodities and tech There's a newsletter to fit your needs exclusively from tf and n Stay informed each day you trade and get the competitive edge that will help you stay ahead of the game Visit our newsletters page by going to tf and n dot com and click the newsletters button near the top of the page tf and n dot com educating investors Since 1984 basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion While originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply Later basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy and calling price turns As well as market trend calls thus was born the Chapman wave sequence Using the Chapman wave methodology along with other indicators basil Chapman advises his subscribers of his expert market opinion Each market day with his opening call newsletter right now You can get a two week free trial to the opening call basil's daily trading newsletter by visiting the front page of tf and n dot com Cancel at any time during that trial and pay absolutely nothing Get your two week free trial to basil's newsletter the opening call today by visiting tf and n dot 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 tf and n dot com Okay, folks, I posted the chart of the dow jones industrial average along with the bradley model This is where we were last friday. You'll notice that we've rallied 500 points just recently up until today. We got to 26,560 i believe that took out the highs of the the eighth of 11th of August that was the 38 day High to high that we looked at from 1987 that didn't even come close in the new york stock exchange index But these are stocks. Of course, you've got high cap stocks and they'll make this thing move But this still isn't I still think this is still in vogue I believe that what we've had over the past though since the fifth of august Has been a pretty significant bottom that had formed and now we had to rally up and I now believe we're heading down And there's still a possibility that that B leg if that is a b leg on august the fifth is is valid That means that sometime in late september early october We could be looking at a market that could be setting down A great deal lower than where we are today now. That's just my two cents worth. It's technical analysis Little bit of the bradley model, which is of course all about astrology Doesn't work a lot of the time. But when it does work, it works pretty good. It seems to be fitting. Okay The next major dates are not until late september early october So we'll find out whether it's going to work or not Any close above 29 55 in the s&p would certainly tell us that we're going to go a whole lot higher And once again, I will be having some fresh crow with a little bit lots of garlic So those are just a few of the things that we want to be looking at so have a wonderful weekend I'm giving everybody the day off on monday. It's labor day. So don't work And live every day in an attitude of gratitude and may god bless and we'll see you on the flip flop