 The following is a presentation of T-F-N-N. Trade what you see with Larry Pezzavento. Toll free at 1-877-927-6648 or internationally at 727-445-1044. Now Larry Pezzavento. Okay, looking good Billy Ray feeling good Lewis. We're going to take a little detour this morning. I want to show the DAX with that beautiful three butterfly pattern that was made. You can see the beautiful ABCD structure completing the butterfly and then the huge rally that we had. I'm not sure what caused it, but it still went up, brought us up in the market also. But I did have a real interesting phone call yesterday folks after the close. John Cherveny called me last night. He's a gentleman that we had on yesterday from the old Merc days. And he really he was really feeling badly. He said, you know, Larry said, I haven't done these in years. He says the first time I've had an interview and probably said 25 years. I said, I hope I didn't lose all your customers. And I said, no, I said all five of them stayed with me. So we're in good shape, but he really felt bad. And then we start talking and we brought, oh gosh, he's got so much information folks and memories. I'm going to share a few of them here with you, but he's coming down tomorrow. He's in Scottsdale visiting his daughter. So he and Irene are going to come down and have lunch with Sarah and I and luck would have it. Another good friend who we all know is Byron Tucker, who knows John also was going to be there. So it's going to be like old home week with stories and stuff. But one of my more interesting stories is when I first got to the Merc and I got to meet Byron Tucker. He was one of the first people that I met. And I was an outsider folks. I was coming from California and I did all of my gold trading and silver trading through New York, not through the CME gold trade. And so I hadn't made any friends over there in that side of the pit. I was really pretty well connected to the meat pits because we did all of our meat trading through the Merc, which was the only choice you had. And we did a lot with catalogs and bellies through those years. But when I first got there, I asked Byron, I said, who are some of the better traders? And Byron pointed out to me, Herschel Herendorf, whose younger brother traded in the gold pit, Herschel was in T-bills. Herschel looked like Omar Sharif. He's really a handsome fellow. They were both from Israel. Their mother brought them here right after 1948 after they had, you know, had independence. And they lived in Chicago and that's where they worked. But they were very, very private and really they kept to themselves pretty much all the time. I stood at the back of the T-bill pit and I really, you know, I spoke to him a few times, you know, not really just hello, that type of thing. And I always watched what he was doing. Well, on Friday, I had a schedule that I always kept and that was on Friday. I would leave McCurk, Clark, take the bus over to, because it was easier to take a bus that time in the morning than to get a cab. And it dropped me off right at the corner of Jackson and Lou Mitchell's restaurant. Lou Mitchell's is the breakfast and lunch place there, about a block away from the Merc. It's still there. You can always, if you're ever in that area, just go on Jackson. You'll see all kinds of police cars there because the policemen eat there all the time. And it's a great breakfast. They serve the bacon and eggs in a skillet. It's a double-oak egg. So two eggs basically have four oaks, homemade bread, ranch-style bacon, home fries, just really great. And I did that every Friday. And I always said at the counter and I would sit on the far left side of the counter. So if anybody sat next to me, I would be able to hear them because I can't hear out of my left ear. Well, I'm sitting there and pretty soon two guys walk in and it's pretty crowded and they sit down right next to me. And it was none other than Tony Gans and Tom Ditmer of Refco. Refco was the biggest firm in the Merc and he was with his $5,000 suit. And we had breakfast and he would ask me questions like, could you please pass the ketchup or please pass the salt? That was about the extent of the conversation. But we were sitting there and then when I got up to leave, I pat him both on the shoulder. I said, have a good day. And I went off to work and stuff. Well, when I got back to the Merc, it was not Friday, but the following Monday, I'm down in the lunchroom in the members lounge and Herschel came up to me and he said, how long you and Ditmer been friends? And I said, well, I said, I'm very, I said, I know his father-in-law. I said, his father-in-law's buddy is my good friend. And I said, that's basically how I know the family and stuff. And Ray Friedman was a whole, a REF, it was REF was Ray E. Friedman company at the Merc. It was a little hog and cattle place, but Ray got into trouble and he went to prison. He was, I don't remember what it was for, something like little stuff, like extortion, money laundering, you know, that kind of stuff. But his new wife that he had married had a son. And this son was at the White House as the Marine Guard during the administration of John Fitzgerald Kennedy. His name was Tom Ditmer. And Tom Ditmer's mother married Ray Friedman. Well, when Ray Friedman, when Tom Ditmer left the Marine Corps, a miraculous thing happened. Mr. Friedman was given a pardon from the administration, from the JFK administration. So Friedman was, you know, free. And so Tom Ditmer took over Ray E. Friedman and they called it RETHCO, REFCO. Ray Friedman's very, very best friend from high school is a man named Johnny Quinn. And Johnny Quinn owned the Las Vegas Hotel called the Plaza in downtown. And that's how a lot of this stuff got started. But anyway, that's what happened. And of course, REFCO became very, very large and a lot of things going on. Another interesting story about that, that was really funny that John reminded me of it. He says every time that the REFCO have big bonuses, their Christmas bonuses and stuff, the first thing they would do would get a chartered airplane. Send them to Las Vegas so they could gamble at the Plaza Hotel and they would pay them in cash so that they'd lose most of their money. It was really, really quite funny. Okay, what I'm going to do here, I posted a chart for the DAX. We want to look at the other one. I have one other small story that was funny, but John's going to come back on. He's really got a lot of great stuff, folks. It's just that he was a little afraid to say some of it because some of it is a little bit risque, but we can handle the risque, I think, if we do it with a pretty easily thing here. Let's take a look. Yes, Hillary traded through Red Bone at REFCO, and Red Bone was out of Arkansas, and he was a pretty astute young fellow. Hold on here. Second here, we want to take the next one, which is the FTSE. You'll notice here on the FTSE, it's not been nearly as bullish as the DAX here. It's been strong, but we've sold off after that big A-B-C-D pattern. But the one that is interesting here, here we go. Here's another crisis. Philip Bennett. Oh, only 430 million. Back in the old days, in Chicago, REFCO was right on LaSalle Boulevard, and LaSalle is the street that runs into the board of trade building on Jackson. And it was harder to get into the REFCO office than it was the CIA. That's how well controlled it was. Let's just move on here a little bit. By the way, I think Hillary made on a $2,000 account or something. No, a $5,000 account, I believe she took out $100,000 in option trading with no losses. And as we know, she was very smart, and I'm sure she was a good trader. So we'll see. She didn't do any more trading after that. I guess that was enough to make her happy. Let's take a look at one thing that's interesting here, and then we'll get to some of these other charts that we want to talk to, and I'll tell you one other fun story that happened to know about. This is the bun chart, folks. The TAS Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. Whether we're in a bull or a bear market, a good strategy is to have the tools needed to help you scan and analyze the markets before you trade. The TAS Profile Scanner instantly scans and filters over 2,500 global financial markets, such as stocks, ETFs, commodity futures, and forex. 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You can still visit us at the same TFNN.com URL, but when you do, you'll see a new and improved homepage 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 internationally at 727-873-7618. Okay, folks, I need to finish that Tom Dittmer story. Anyway, after Herschel saw me sitting there with him, he assumed that we were colleagues or friends, which I didn't disavow it, but I didn't say anything more about it. A couple of days later, I'm sitting there and he's there with his brother, Josh, and I could tell they came up and we were all sitting together, and I could tell something was wrong, and I asked him, and I said, Herschel, I said, what's wrong? And he saw, he says, family stuff. I said, you got somebody sick? And he said, yeah, he says, my mom. She says, she's got diabetes, and she takes insulin shots, and Eli Lilly, or he didn't know it, but he said, the company only makes pork insulin, and my wife, my mother, won't take it because she's Jewish. And I said, well, why don't you get beef insulin? And he said, well, it's not available. And I said, of course it is. I worked for Eli Lilly, and they were the number one people for making insulin. They started it back in 1938, I believe. So I called my friend out in Eli Lilly in Indianapolis and I asked him, how do we get some beef insulin to this lady? And he said, give me the name of the doctor and find out what the dose is. And he said, we'll ship some up to her. So sure enough, a couple days later, a whole year supply of beef insulin arrived at Mrs. Herendorf's house. And after that, Herschel and Giles treated me like a prince, which was really a lot easier because I was one of the few people that they chatted with down there all the time and never talked about money or hardly ever talked about markets, most of what we talk about with Cubs and the bears. That was mainly and also the bulls, of course, because Michael Jordan hadn't started there yet, but we still had some friends. And of course, Ernie Banks, we liked Ernie Banks, but anyway, that's how that all got started. Take a look at that chart that we just posted here on the Treasury bond folks. I need to pay close attention to this because this to me is very, very important. I had an email last night, someone asked me to tell me what I thought the three most important things that were happening this week. And I'm going to tell you right now, this is one of the major ones. You notice that we've broken, we started to break down from that multiple 61% retracement. We hit it four times over the past month, up there in that 147 level, just spot on. But the key part about this is what we're going to see next. And this is the long-term weekly chart that we talk about all the time in the Treasury bonds. Let's just take a look at it here. You'll see the high we made back in June of 2016 was a big, big three drive to a top pattern, all during 2015-16. And then you had the big expansion up there. You can see that 1.618 number in blue. It was right up at that. And that's when they changed over that one contract month because actually the high was right around 170, but because of the expiration of that March contract, it pushed it up higher because of the specifications on that were a lot different. But the key part of this is from 2016 to 2017, we had a really tough bear market. We went from 178 all the way down to 146. That's $32,000. We then rallied. You can see the rally was a 38% rally, took about nine months to complete. That sets up the ABCD pattern to the downside, as you can see down here at 128. Well, let's fast forward here and see what's happened over the last few months. After that high was made in August of 2017, we came down to 136, and what did we do? We rallied up to a 50% retracement, which was an exact equal rally that we had had during 2017. And if you don't believe me, as Mr. 20man says, defy human nature and do the work yourself because this is very, very important that these equal rallies, because look what happens when you take both of those ABCD patterns together. What kind of a target do you get? 128. And where are we at now? We're at 144. Notice the last bar that's on here, folks. This week's bar, you'll see that we're down two full handles. We're just preparing to break the 144 level as we speak this morning. That means we're going to be taking out the lows of the last six weeks after a little rally that didn't amount to any more than a hill of beans. And that means this market looks like it wants to go higher, i.e., lower interest rates. So we'll see if that's the main thing. Yes, David, you've got more information. The only thing I remember about that thing about Eli Lilly is they were on a plane coming from Iowa State University, a Lilly executive along with Banting and Best. It was Banting, Best and Collop, I think, with the three guys. And they didn't know what to do with it. And Lilly said, let us make insulin for you. And one thing led to another, and that's pretty much it. It's pretty good. Boy, they still make it. Squib made it for a while, and there are other people, too. But now they have all different kinds of generic stuff that is very, very important. So we'll see. OK, that's the one thing that I think is important. The second thing that I think is very, very important, and that is this gold market, folks. We've been watching this now for just about a month after that top was made. Back on, well, it's not been a month. It's only been two weeks since that top was made at 1351. But this thing is really set up that it wants to go to 1299. We're ready to take out the lows that we made way back on the 13th. That's around 1305. I think we just took those out just a minute ago. And that sets up the objective between 1298 and 1292. The 1292 is the 38% retracement from the low we made way back in November of 2018. And if you'll look at November 2018, folks, look at this darn thing. It's the same type of what? It's really exactly the same distance. And you're going to be down two harmonic numbers when you get down to that level. So that's why I think it's going there. First of all, this is a Friday in a down week. It's going to take some type of pretty good move, news a bit, to get the bulls to change their mind and not be afraid today and the shorts to lose their composure, because they're in control right now. And the other factor about this is if we look at the silver that we have been looking at, you'll see that we're not very far away. I believe we're trading around the 550 level. We've taken out, we're almost ready to take out that 1540. The 1540 takes you right down to the 382 retracement again at 1520. So that's what it looks like in the silver. So this is what I'm looking at. I haven't looked at Dr. Copper in a long time, but I tell you what we will do, Pete, right after the break, I will put Dr. Copper up and take a look at it. But before we do that, we have to look at something we never look at here, and that is palladium. They've asked me to take a look at that. Here's palladium. This is a weekly chart. You'll notice that this week, look at the top up there, folks, you see that little red box where it says 1.618. That's the move between 2016 and 2017, making a 1.618 ABCD move. And if you'll notice that the move between 2017 and 2018 ABCD down there at 800, we're now trading at, we got as high as 1550. We're at 1495 today. And if we were to look at this, and I do not trade palladium, I never have, but I do want to bring to your attention. If you went to a four-hour chart with palladium, you'd be able to see that at the time it was making that 1.618 expansion, you'll see that it was making a three-drive pattern with a beautiful ABCD over the past four or five trading days using a four-hour chart. So any move back to that 1520 level to me would suggest it's probably going to be a short sale. So we'll see. 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 market's 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. 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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. Back folks, we posted the chart of the copper and you'll notice the double top that we had up there at the 332 level. We came down in August of this year. We made a double bottom in August. Made a slightly lower low in January, which is what you love to see because it means there was no stops down there and that was a design that there was a pretty good chance that the market was going to turn, which in fact it did. The 61% retracement on this comes in at 302. That's 6 cents from where we are right now. I don't see any reason why we're not going to make that because there is a smaller ABCD pattern that is here that I think is pretty important and the reason why is the fact that it couldn't just barely make a 382 retracement. I think what I'll do is to print this out before you're posted in here so you can see it and that'll take you up to that level that you're looking at. It actually goes a little bit higher. It goes up to about 305, but we'll bring this up so you can take a look at it. It doesn't look bearish as opposed to the one with the ladium that does look bearish. The copper certainly looks like it has some more to go to the upside but it's still a bit early. Now that was the first one we had that the person asked about was the, what I thought was the most important thing this week and of course the number one thing was the treasury bonds, the fact that they're breaking down. In fact we're trading 144 even now. We're moving over from March to June now. This is an important thing to pay close attention to and then the next one that they asked about was the NASDAQ and I wanted to bring that to your attention here because, oh, where are you? NASDAQ, I just had it all ready to go. Boy, this is embarrassing. Every time I get on these darn things and I put them in order and all of a sudden when I get them in order they just, ah, there it is right up there at the top. That we're looking at, you'll notice that this was still supposed to be a down week. You can tell by the red candle that it's out there right there. That's the hidden shoulders pattern. If it turns to be a green candle, then that means you're going to be up 10 weeks. We're still making a hidden shoulders pattern. So that to me is the second most important thing that we're seeing as we go through these and then the other one that I think is really important to look at and I'll do it a couple of different ways and this is the European stocks. This comes from our good friend Jim Bartolioni and you'll put this up here to take a look at it because you'll see that the high back there could have been a major high. You'll notice that the rallies that they had through here, there was one, two, three. We're going through our fourth one right now and this one is an ABCD coming in at the 382 retracement. This is European stuff, folks. This isn't the US. This is European. We see this in the DAX. We see it in the FTSE also, but this is basically Zurich and those are the main companies in that from what I was told. So all of those are telling you that there's a possibility here that we're looking at some type of a relatively significant high coming in around that time. So that's very important. There was one other one that I didn't bring up, but I probably should, and that's the state of where we are with the US dollar here because the US dollar has been setting between this 97 and 96 level for quite some time and we'll bring this up just to take a look at it and this is all related to the Euro and all the others, of course. You'll notice that we have we had a five-day sell-off a tiny three-day rally and the market has gone absolutely sideways for the whole week. That means something big is getting ready to happen. Norm Winsky, who will be our guest on March the 5th as told us that he's got some very, very big cycles coming due right at that time. So we'll pay attention to what Norm has to say and see if we can get some good information. We'll also on Monday we're going to have Bill Meridian from Cycles Research to be in Austria as our guest and he always has some good stuff too. So we'll be able to do that. I have one other story that I wanted to mention and we have many friends back on the old days back at the Merc. I was fortunate to be back there when things were just starting to be really big but one of the big traders there that I got to be friends with over the years, he was going through a divorce and I was living in California. This is now 1986 and I was living up in Avala Beach, California about seven miles away from his mobile just was long before the trading house and anyway they came out he came out to visit and Byron came with him because we were all friends and our plan was there was going to be a big party on Sunday and it was related to, oh shucks I can't remember, oh it was a big coin deal that Steve Markoff had done and he was throwing a big party for friends and we were invited and so what we were going to do is we spent some time up in Pismo Beach and those boys went salmon fishing every day and I well there were three days Tuesday, Wednesday Thursday we left we went down to LA to hang around and Friday was the day we were going to go to Hollywood Park there was a big race on that day and also one on Saturday we couldn't go on Saturday because we were busy doing something else so we went Friday had a really great time and it was like the old days I mean they still thought that that box was mine because I had left Drexel you know in 82 this was three years later they still the people at the Hollywood Park still thought that I was the owner of the box nobody was there that day so we had a good time had a lot of fun when we left the Hollywood Park we went down to the coin store there in Beverly Hills to you know to introduce everybody because Byron had not met them before and we introduced Mark and so it was really fun because you know we as we walked into the place I mean it was it's a beautiful everything and there was a young lady there one of their regular customers and Bob was one of my my very dear friends and she always bought gold coins she'd buy one or two gold coins remember gold's really cheap still then it's again a couple hundred dollars and let's come down from you know 865 anyway Alice was there and Alice was a extra in the movie business she was from Tennessee Memphis Tennessee former number three Miss Tennessee or something like that just absolutely a lovely girl very very pretty this is a sweet little southern Baptist girls nicest could be and when when she walked in and saw saw our friend I mean it was like a lightning bolt I mean it was like you just can't believe the energy that was there anyway so she ended up going to the party and one thing led to another and about four or five days later he's heading back and I'm taking him to the airport he says we got to stop at the bank and I said okay I said where do you want to go he said we'll stop there you know at Santa Monica he said there's a bank there that I can wire some money and I said sure I said what are you doing so I'm buying a building I said you're what he said yeah I'm buying a building and I said why he said well he said Alan Alice lives in this duplex and they're raising your rent by 40% and I think it's a good investment so I'm just going to buy the building and keep her rent the same and let her manage the duplex I said that sounds like a good idea anyway they went together for about 10 years Alice got very sick with leukemia passed away and he left the building to her so it was really a really old story but anyway let's move on to some of these other markets after we take this other break I bring these to your attention folks because you get a lot of things that you don't want to lose and these old memories that I have some of that fun stuff it really does mean mean a lot to me so bear with me some of them won't be as funny as others some of them be maybe a little bit more emotional than others but I'll remember them once in a while and I'll certainly have some for you on Monday because we're going to be doing a lot of it on Sunday so it'll be some fun we have maybe see our good friend Arch Crawford too we'll be right back 877 927-6648 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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The funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor for side fund services LLC The Bull Bear Binary Option Hour Next on TFNN Ok folks I posted the chart of the British pound here because this is what I think is the next most important thing that we have going on because of all this Brexit stuff you'll notice the Brexit high which was way back on June the 27th of 2016 the market broke all the way down to 120 and actually I believe the low was just a tad under that and then we had the ABCD rally up to the 78% level up at that 143 we then came down to the 78% level 124.65 which enables to get long we held that for the first 5.5-6 points of that and then the market backed off and you can see that it backed off exactly to that 20 men line that we sometimes talk about it acts as a fulcrum that also happened to be a 61% retracement of the low that we made you know back here on December that was December the next was January the 4th is when it was and now we had to move up now if we take a look at this on a daily basis you're going to see that ABCD structure that we looked at and here's what's happened you'll notice after we made this high several days ago three days ago we made the high up there at 133.50 that was the 1.27 expansion the completion of two ABCD patterns perfectly and then look what's happened we have done exactly what we did in late February when we had the 38% pullback what what happened yesterday excuse me was this a few hours ago we made the 132.20 level which matched the old high from January the 28th and it was also a 3.82 retracement of the move from November from February the 18th up to the high those moves were exactly equal this tells you it has a great deal of support in that British that level so that was a place to take your profit if you go long if you wanted to our factor our idea here was to just to cover the short being a Friday and we'll look at it again we didn't go long but we're basically flat that now waiting to see what the next thing is going to be but the fact that it stopped exactly at that level the number was 132.20 and the and the low was 132.19 I know you can't make this stuff up but it was pretty close so this is going to be an interesting one to look at the US dollar is at a very key level also and as we're speaking right now the Euro is making a 61% retracement of that move that we had all the last couple of days from 114.20 it dropped 70 pips down to 113.50 and this the 61% retracement comes in within three pips of where we are right now which is at 113.91 is going to be the 61% and we just hit it so we'll see if that's going to mean anything or not I see Maria has nailed the gold one more time let's give a let's hear the sound of one hand clapping for Maria God bless you dear another nice little $5 move in gold she bought that down there at $4 move in gold it's already jumped four bucks so terrific you've got a great eye young lady you know keep it up the bonds have just broken below that 144 level we're trading at 143.30 these bonds look very negative folks as I pointed out earlier in the show the long-term charts are extremely negative and even the daily charts now are very negative we could not get substantially above that 147.02 level now we're you know two full handles below that let's say let's try that three full handles below that so that's been a pretty big drop here and it still looks like it wants to wants to go more to the upside so we'll take a look at that someone's asked a question is how do I know whether this 1393 is going to hold the Euro boys and girls there's one thing that I'm absolutely 100% sure of and it is I don't know it just looks like it wants to hold I mean I'm just looking at a very very short-term chart here a little 30 minute chart I'll bring it up here to take a look at it but this is this is all I'm looking at you know this is just this tiny little pattern here maybe it works maybe it doesn't but you know that's that's neither here nor there we're just trying to see if that level is going to hold it you don't have any ABCD structure between 113.50 and 113.93 so we don't know if that's going to be the case or not all I know is that if you did that trade your 78% level is a 114.05 so you only have to risk $200 to see if you're right so that's what it's all about it's determining how much money you risk not how much money you're going to make it's very very important talking about the the market's been pretty strong but the fang stocks are still having trouble they really are so it's going to be very interesting okay well that's the way it goes sometimes it's it's chicken salad and sometimes it's chicken soup you just never know how you're going to mix it alright let's move on here to talk about the Australian dollar again I've been doing a little bit of work with the folks there over in Melbourne and we've been watching this Australian dollar we're still down around that 171 level we've been here for two weeks at this 382 level but it looks like it's ready to possibly break to the downside here any move below 7070 in this Australian dollar would tell us we're most probably going to look at another hundred pips lower down around the 6960 level that's the way it would look by just looking at the Gartley pattern that would come in at that 61% retracement the fact that we made that 382 retracement at once at 7080 and then couldn't rally to make new highs we actually went slight rally for about eight days and then come back to retest it that's not a good sign so we're assuming that this is going to be heading down a little bit lower which means that dollar index is probably getting ready to with the Euro and all these others with the exception of the pound which is certainly the strongest of all these major crosses it looks like that would be the one that would be interesting because when you look at this dollar index one more time and you'll notice that you'll and this is just not updated for the last couple of days we're still in that same area we haven't gone any different this whole week than we did last week so we just gone sideways here at the 50% level so it's getting ready to have a pretty big move either one way out of this you know we made up we certainly made a cycle crest here last last Monday when we got up to that 9720 level that completed the ABCD pattern but then when it backed off it just didn't back off very much so this is not giving you a whole lot of information so you've got to go down to a smaller time frame like a 4 hour or an hour to find an entry spot that looks like it could be you know halfway decent so that's the main thing that you're trying to do oh one other thing that I did want to mention to you let's put this up here this was the low that we made in the market way back on December the the 24th you'll notice that we were having this big ABCD pattern and we said that if this thing didn't didn't hold we were going to go down a little bit lower if you remember this was on the the 21st of December and of course what happened was on the 24th you'll notice the market had a very strong four or five day move right to the downside and that happened to be the 61% retracement on the weekly charts exactly at 107 80 I believe was the exact number hit its spot on and as you can see we've had one heck of a rally going up to the 78% 10 weeks up folks this is two biggest rallies the stock market has had the Dow since 1987 the two best months ever and for the S&P the best months ever from 1991 and that was the desert storm war if you remember we had that day in January where the market left a gap that is still never been filled in the Dow Jones industrial average well that's almost the end of the day we got to wrap it up in a few minutes pay a few bills 877-927-6648 author of mastering probability and for the last 12 months timer digest has been tracking my newsletter signals which 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along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day the chart of the New York Stock Exchange Index weekly to show you the importance of that 61% retracement that came in there at 107.80 and that was spot on we've had a very strong rally it's a 10 weeks we haven't had a 10 week rally this strong since Hector was a pup and he's a full grown dog now so this is a very very important when we get a pull back here whatever it is with an ABCD you want to get along some of this stuff because regardless of what's going on in the economy this is a bullish chart folks there's no other way to look at it short term we're extremely overbought but longer term this has got some legs because of the way that it came out of here it's when it breaks records like this you have to pay attention you notice that Gartley cell that we had on September the first that was a layup I mean you had a beautiful Gartley pattern with that you can see the beautiful diagonal triangles there that are colored in right at the 61% retracement and that was a really nice when you had the ABCD structure to the downside stopping at that 61% retracement and now we really had no down weeks here well actually we did 3 weeks ago it was down slightly we didn't make any lower or anything like that but this is the 10th week that we've been up here in this so it certainly looks like it's interesting but it appears that we're going to be breaking some of these key levels of resistance if we can get the S&P up above that 2815 today this would certainly say that yes there is a possibility that we're breaking out and going to go continue higher but we'll need to wait the key things to watch over the weekend of course at the gold market that's going to be really key because if we get down to that 1290 1298 to 1292 level that's going to be extremely important we've had two five dollar rallies here this morning in gold so whether we're going to get much more than that today I don't know we went from 1207 all the way up to 1212 and then back down to 1205 five dollars up from that takes you up to 1210 so kind of watch the 1210 level let's say 1310 and let's call it a day live every day in an attitude of gratitude and may god bless Hi folks Tom O'Brien here if you'd like to get my daily newsletter market insights then now is a great time to sign up for a 30 day free trial every morning by 9 30 I send out my morning letter to subscribers with market commentary on a variety of markets, currencies and commodities to keep investors up to date on the day's trading action included in market insights are specific buy and sell recommendations for stocks ETFs and even options with stops and price targets included for every trade in my newsletter if you'd like to try my newsletter risk free then head over to the front page of TFNN and you'll find market insights under trading newsletters I use my years of trading experience to bisect and dissect the market every morning and give my subscribers the most important information they need to know for the day ahead I even issue afternoon updates for my subscribers whenever warranted with important market action I'm always scouring the market for the next great trading opportunity sign up for your 30 day free trial to my daily newsletter market insights today by visiting your front page of TFNN.com yeah, go get them folks