 The following is a presentation of TFNN the Tiger Technician Hour with your host Basil Chapman call now toll-free at 1-877-927-6648 Hello everyone this is the Tiger Technician Hour for Friday the 19th of August and we are looking at the S&P this is the E-mini right now down 43 the very nice and on peak D is the Chapman wave methodology by signal to buy mode that's a minimum minimum target and in this particular instance what we're looking at here is from the low that was made back at about 825 this morning when peak ABCD in the one-minute E-mini chart above the 200 p.m. moving average it had hung around there for ages while it tested it and pulled back so another bi-signal about 905 went to where to a peak D then there was six bars of consolidation in retested that exact high but look at the vertical lines with the magnum stochastic at that high of 930 and then look at it again at 937 ish much much weaker and then what happened with the left side rice at price time as to the bottom took it out under the 200 p.m. moving average went down and now we're trying to come off the low of 42 about 42 35 36 and we're trading at 42 44 and if you look at the five-minute chart of what happened peak a peak B peak C peak T and then ran up to an e just under the 200 p.m. moving average took a dive fell back and now it's trying to rally some alright got that out the way this is technical Friday a couple of things we want to look at and we just run all the numbers now we'll do that real quickly we're looking at the Dow down 231 to 35,766 this is the foot third day after the top that was made at peak F snazzy it's still an alternate count there's enough residual strength to say you know what you could bounce it you're probably not going to make anything much more than maybe if you do go higher it'll just be a nominal new recovery high but then you come back down again in other words to answer a question that came up yes I am far more positive but I'm far more positive because of the weekly chart the daily chart for about a week now I've been saying choppy choppy choppy into this period of August I'm anticipating some kind of a pullback and then a lot of choppiness maybe going to next week maybe even the last week what is this August August August 31st is Wednesday a week from the coming Wednesday yeah so a very choppy period and then how we come out of it from any signals that how let me put it as simply as I can I'm looking at the daily chart and for those of you who did my webinar Wednesday a week ago you know that what I was looking at is I talked about I spoke very throughout the webinar often I kept talking about what happens at a potential top what why you can have an alternate count and it's not saying oh you could go up but you could go down I mean anybody could do that what it's saying is everything is still positive the nine is way above the 14 the price even now down 264 still above the green nine period moving average of what is that 30 30,641 and that's way above 30 thousand 383 the 14 period moving average and that's above the 200 period moving average of 33,204 they're all they've all crossed positively but that doesn't mean to say we aren't in an overbought condition and the on balance volume is telling me that this is the only indicator that's saying be careful in fact this morning I changed I usually say to self don't change it you thought it through why are you going to make a change but I changed for a couple of reasons one is I was going to institute yesterday and then I thought I'd do it today but I needed to let the day unfold I need to see how the MACD handles this particular pullback on the stochastic which is at 87% both of them very positive so I had I wanted to we are along the diamonds we're taking a little bit soft to to to take profits on the way up and we've had really good gains got most of the move from the very low that was made in the down back in June but most importantly I was going to add the DOG that's one to one short I thought maybe two times short I said no I don't want to buy the DOG at the open today I want to see if there's some kind of a move to the upside and I don't want to get out of my diamonds we're in a such a fantastic position I we won't get that I don't think we're going back to that start of the June low in this particular pullback that I'm participating based on the weekly chart so I'm very cautious the daily charts I love the action in the weekly charts it says that at thirty two thousand seven forty five thirty three thousand six hundreds maybe in thirty three thousand thirty so thirty two thousand six ninety is the green yep that's green it just turned green today yesterday so let's see if the green nine period moving average above the weekly fourteen period moving average is going to stay green by the end of the day and that is all suggesting to me with the MACD strongest stochastic 74 percent that the weekly is finally in play you know how I talk about time frames you go from the hundred twenty minute chart to the daily the daily to the weekly weekly to the monthly that's why we are still long the dollar in fact but that's not the issue the issue right here is I'm anticipating choppiness choppiness is not a major sell signal I just end up any of the ingredients right now to say major sell signal so get out of every everything and go short I just don't it might happen but I don't have it right now right so the most important thing and I'm looking at right now is what I'm looking at is some kind of a cup formation how we can bounce from the cup low wherever that is back towards the thirty four thousand millennium level is going to be important and that's it so I took off my DOG trade and I thought I'd just implement no change in the diamonds we'll keep that this is just to mediate any downside move and I thought you know I've got to see how it plays out today I know that I might have missed the best opportunity yesterday so today buying at the open which would have been about the price is right now I just didn't feel comfortable with that and the other is I was going to take off our entire first position about three times longer the Q's the TQQQ we got the second position lower down that's the one that's really that gave a 50 percent gain but that's not the issue the issue is the second one has had fabulous gains I was going to say let's just get rid of it completely and then I thought you know look at the QQQ well I'll get there let me just do the S&P right now the S&P at this particular point is down 46 have 42 37 and it's going to probably turn into an F or not an F slash B because it's it hasn't pulled back enough yet but it's it's starting to pull back quite sharply today's young anything happened options expiration so that's what I'm looking at right now and I'm saying okay we don't have any position in the S&P the 200p moving average of 41 92 yep that could be in play that's a 40 point pullback nothing wrong with that you had fabulous good weekly chart leg B everything there is positive I wanted to hold out for the day to see what would happen I could still get rid of all that and then we'll just have the one position which is just fine as now we had two positions and we would take a little bit off on the way up and I have no problem at all and probably would have been best with a nice gain on a percentage basis from the open today or at the moment when I'm in my traders corner I sent out a message saying take it off no I'm still okay with that I still think there's enough residual strength that I need to hold it just a little while longer so now we're going to the QQQ we've got a break coming up now the Q's are under the 200p moving average this is starting to hint that it could be a G and not a C and therefore we've got to be a little bit careful and the weekly chart is being repelled at this I'll be back now it's time to say Vista Gold owns and operates the largest undeveloped gold project in Australia the Mount Todd Gold project Vista Gold just completed their feasibility study resulting in a 7 million ounce gold reserve Vista Gold has all major permits approved and has retained CIBC capital market assistance in evaluating alternatives and in completing an accretive transaction Vista Gold trades on the NYSE American and TSX under the ticker symbol VGC Vista Gold executing a strategy to create shareholder value are you looking for a way to consistently add winning trades to your portfolio Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you Tom's Daily Market Newsletter Market Insights is published every morning when the market's open to give you the competitive informational edge you need to succeed these newsletters are packed full of Tom's advanced technical analysis and are 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the 14 and the 200 period exponential moving averages but that weekly chart has improved tremendously so here we go we've got gold gold is down six at 1764 the GDX is trading at 2547 just need to check something out don't want to speak out of turn uh yeah that is a peak C and the gold made a peak look at this gold made a peak where did that go let me just put it again put it in there there it is okay gold made a peak D and it's pulled back pretty sharply from the Chapman way for a fourth highest peak and the left side rise at price time I shouldn't quite get to the left side high that was in July that we were looking at now it's pulling back but most importantly and it's just silver because some people look at gold and silver together that was that's a peak F and that is definitely I done this yesterday I said silver is acting had a fabulous move from the 18 to the 20 20 and a half area and now it's down to 19 this is not good action at all both in the day the weekly and definitely the monthly we're looking at I'll do this as well high grade copper high grade copper is holding pretty well at 3.661 looks like it's trying to make a leg D in the three just over 3.17 we'll see if it can do that and let's see wood because this is the global ice shares of the timber forest 3df peak C this is a peak C right now holding quite well so copper and copper and the ice share the global copper is global and the ice shares wood is a symbol for the ice shares of the timber forest 3df holding very well that's kind of at least a shorter term good sign that I'm looking at now what I'm also going to go to is the dollar and the dollar is having a really strong move to the upside this is a leg B it broke out of the Chapman Wave inside track repellent zone is now propellent zone even more importantly is that multi chart held so well the nine-peered look it hasn't closed under the weekly nine-peered moving average let's see it hasn't actually really closed since it broke above it back in 2022 that's that must have been February yeah around about February the fourth at 90 June 95 and 97 yeah it is at 107 and as I said before I have no intention of taking anything else off the dollar at this particular point maybe along while we belong since 2018 you can call that a fairly long-term trade certainly for us as any it is a revan vinkel trade almost and what we're looking at is it could start to stall make a cup formation 109.29 was the high this is the in the dollar index at 7 on the 19th of July so that so far the dollar is acting really well and I've said all along that there are a couple of reasons why I like the dollar but the most important thing about the dollar the reason why we're still holding along is it's an icon it is the emblem it is the the the the trophy in the currency area of the world and that's all and it says that the US economy is still doing better than most of the other economies and therefore it's holding very very well if you look at the euro it's just had the reversal EUR USD and a peak C it's further it's almost like the gdx pulling back sharply if you're looking at the USD jpy that is the euro dollar currency the yen currency pair only a leg seat to the upside looks like it wants to try to challenge that 136 the next resistance is in the 13750 to 138 38 area sorry here we are okay and i want to finish up with two things that's the crude oil oh i got three things crude oil and natural gas so crude oil right now there we go cl doing quite nicely it's up 64 cents at 90.75 it's treated the 200 period moving average as a propellant in the very short term the weekly chart says wow you are so close because that rectangle for me you remember that whole webinar including rectangles large rectangles and narrow rectangles this arch formation the dreaded age pattern has held so far in the crude oil weekly chart monthly chart is looking okay at this particular point so it's really important for crude oil if crude oil starts trading under 84 or at in the 84th that's a big problem because it's under really important support oh let's go to the tl oh i said crude three things oh natural gas natural gas made a peak deed two days ago and it's really holding pretty well there is this double top potential here in the weekly but the weekly is in a leg b i have no other way to count it and that just says it should go to a c in a d i like natural gas for this particular quarter of 2022 in this third quarter i like natural gas let's see where that goes and the meantime back in the ranch we have to look at bonds us there it is bonds made a peak e top just under the 200 period moving average around about 146 is trading at 138 right now that's not a good sign because if you look at the t and x dot x there we go that is in leg a b c d e oh this is the yields still way below the high that was made but it is rising rather than falling and i think that's another issue here that says there's another reason to to with the dollar rallying and the yields rallying it's another reason why you can say being cautious here is just prudence that's all it really just makes sense to be we've raised cash again we had some experimental buys over the last week that hasn't worked out i don't mess around they've gone much lower than they were those particular instruments that we had not interested i gave it a chance you don't want to accept my chance now i had a question about on uh this is on semiconductor corporation intelligent sensing data and power solutions it made a leg g says me so i i got a question here type hello basil i've enjoyed your show for many years and was wondering if you had a target price to sell on on technology on semiconductor uh let's see uh i bought on a year and a half ago in the low 40s congratulations that is great now let's see it looks like on monthly chart is in leg d well there it is leg d yep absolutely correct with the dating one in leg b and a weekly in leg a so leg a now the reason why let's just go through this is technical brightness let's just go through this i love the stock i love the fact that some of these semiconductor the the semiconductors that you don't hear about all the time like on like s p n s oh did i just this s n s n p s synopsis oh yeah yeah s n p s s n p s i would look at that big move down into 391.14 but here again what is it it made a beautiful cup formation in the uh in the weekly chart i should call this e slash b just to be absolutely correct in my notation in the chaplain wave e slash b and another one that i looked at the other day was wolf also in the set so this is synopsis electronic design automation semiconductor and we've got wolf and i'll be right back wolf is training also down just a little bit i'll be back when we took a bet on if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report is a comprehensive look at the metal sector as well as the markets that move gold which is the currency and bond markets new subscribers get a 30-day money back guarantee so you have nothing to lose every monday morning i published a gold report with coverage of gold silver bonds the xau hui gdx as well as more than 30 different mining equities to see for yourself the types of profitable trades that are recommended within the gold report sign up now by visiting tfnn.com don't miss out on the next great gold trade sign up today tfnn is excited about our new software charting program the art of timing the trade charts in collaboration with tom o'brien and using his best-selling book the art of timing the trade your ultimate trading mastery system david white has programmed an outstanding piece of software that will complement any trader's methodology using this first of its kind program the art of timing the trade charts allows you to scan thousands of stocks for fibonacci formation setups including artlies abc's butterflies and much more the art of timing the trade charts is designed to help 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gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors 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 hello so we're back and what i wanted to say is the wolf which is the wolf speed and it's a symbol i'd seen so many times just the other day i did a whole analysis of it in chat point methodology um it played a p all-time high peak at 142 33 back in november of last year then plummeted down to the 60 level i mean more than a more than a 50 decline now what we're looking at is this within the context of the gap up and holding the gap that's good and the reason why we are still holding our semiconductor long three times long position even though we're taking little bits off and we want to add to it on any major pullback uh in a in a specific way is because some of these um i don't want to call them peripheral uh semiconductor companies these are major companies but they aren't in the media they aren't mentioned all the time are telling me that there's a really good chance that a lot of the problems in this particular phase for particular companies in the semiconductors they're actually starting to resolve their problems that that's my thinking i have no real evidence other than little things that snippets i pick up so within that context let's go back to on so the question wasn't what you know what should i do it's what what my target is etc what i am going to say is this so um and marie says um uh so yes you're correct calling that a b in the dating chart and it is beautiful what was this stock oh oh oh t dr i wrote it down somewhere in t r was it in t r in t r yes remember the pattern i see the chamois falling exformation in a very quick time frame gives you a nice big breakout that i was expecting that leg d and n t r and ravine limited that could turn into a peak d and it should start to pull back well on semiconductor had uh three uh actually almost four of these patterns right here and i did that yesterday and it broke out so this is you can call it leg b i'm being a little conservative because the mag d hasn't crossed negative yet it deflected higher but it's sorry to show signs that it could be a little toppy so i'm calling it right now g slash b with nothing to do however that's not what you asked me you said which time frame should i pay the most attention to thanks in advance and marie so i love that question and the question is in the big context this breakout there's no other way that i can call this let me just check that out before i even talk about it i had a really notated on conductor semiconductor yes so the start of this by mode in the um in the weekly chart of on semiconductor was back in july of 2021 around about 34 and you it's fantastic you got in just near the bottom beautiful and then it had this beautiful move to leg e then a peak e with the magnate deflecting that means it touched the 200 the sorry nine period differential the green line touched the red line slow moving average 26 period moving average and then deflected back up again so that says to me in the dating chart since it's got this pattern and then it went on to an e and then had a sharper pullback but i've got this as an a i should take i know it looks absolutely weird because f would say oh watch out and he says are you kidding any pullback you want to buy but in the in the notation this is not necessarily the sort of a new buy signal by mode everything else about it tells us that it should be because it broke your new recovery high above the 17.26 high of the week of july the 7th 2022 but that's your starting point and as long as you've got your starting point you can have these isolated long-term moves suddenly to the upside but they continue the notation that was made earlier on that's just like a heads up for people already used to this to understand that that can happen it's not like oh my god no that's just the way it is i'm just trying to be as conservative as possible saying be careful of those this accent is beautifully in fact i should put a buy an up arrow yep i have to he said 91% everything about it so it would be a complete failure if this buy buy signal to buy mode up arrow doesn't in fact take you to a pullback and then a b and then a c this means for 2022 this is really good action it'll completely be not good action if it closes under say 61 anytime through september if you see that then i have to consider it was an f at this point i'm considering it an a so what is the time frame the time frame the best time frame is always the monthly because if you are still in a buy mode waiting for a d and everything is technically good now you in leg d haven't got pd yet now you look at this potential and look at this if i do a vertical trend line move from the 7th of january of 2022 at 70.26 to even right now look the magnitude is way lower but it's strengthening the stochastic is actually higher at 91 percent the 9th period is way over the 14th i have no reason to even think about anything else other than this is a good stock with good technicals going to all-time highs i think it's all-time high but going to at least mutter your highs this is really good now let's go to the daily why am i saying is g-b in this environment with so many so many stocks are potentially making a higher letter together with a lower letter as an alternate count there are a number of things that will change that if at any point in the next week or two goes from the high that was made yesterday of 75.15 or something what was that 75.26 if it starts to trade for a little while under 65 that's six points lower then i'm saying oh that's a g watch out take take take some time and that's all so your question was which is the most important time frame in the short term obviously the 120 minute chart and even do that let me just check that out 120 minute chart i'll try to do it quickly because nothing ever is quick okay it went to p a b c d e f okay so that's suggesting that it's holding really well considering where it went to but i have to call it an f for now in the 120 minute chart so just be a little careful so on the very short term i'd be watching the daily in the long term the weekly holding in the stochastic above 91% as long as it holds above 86 87% for the next week or two that's going to be a really good sign the big picture was the monthly and the monthly has gone to leg d and is still holding very well so in your big picture you want to get buy modes that are going to lead from daily to weekly and finally to the monthly and the monthly then should go to at least a d you're getting leg d you haven't got a peak d the weekly chart is holding very well the daily is your near-term position to watch you don't ask me what to do and all i say when you get to this particular point when you add a potential at least a short term top is if you're a little nervous maybe take a little bit off to make yourself comfortable i don't see anything wrong with this right now on semiconductor trading down one at 72 14 i like it very much even if it does pull back some and it's been on my list to buy but i just never got it i just i kept looking at it and saying that not now not now so that's an okay next question came in veil uh veil is a valet or veil is iron ore pellets nickel copper ferro alloys et al etc made a chaplain wave two bar reversal in the monthly chart a peak c at 2318 pullback sharpening to just over 10 cut in half goes back up to the 21-ish area pulls back sharply again makes a peak e in the in the weekly chart and it looks to me like it's still weak and i'm just going to say that i would hold off on the veil i said it's always a great company when when steel stocks and anything that area starts to ready sharply right now it's just stuck a lowcase hv to a lowcase impact at 12 let's forget it again if it hits 12 10 11.5 you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave the chapman wave up-down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by basal chapman in your inbox every day first time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information david white's investment newsletter the technology insider is designed to give you all the information you need to understand the technology that ships today's markets and tomorrow's future david white has made his living staying on the cutting edge of technology his weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices target prices and stops to set for each trade david delivers his weekly newsletters every friday with updates throughout the week you can get the technology insider at tfnn.com for only $37.50 sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer try at risk free today with our 30-day money back guarantee tfnn educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade labu or labd directions daily s and p biotech three times bull and bear etfs visit direction investments dot com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain prospectus or summary prospectus please contact direction shares at 866-476-7523 the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services LLC this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz all right so i just got a thing that says fidelity magd the moving average convergence divergence signals um caution for stocks um i don't see that at all uh not based on the magd other things are saying to me just on a short-term basis caution the magd s is close to uh crossing negative uh but it's still positive and it's still acting very well um that would just be one signal it just says actually uh what's the signals did they say caution i guess i can't agree with that yep okay i'm gonna i'm gonna agree with that right so in a dent um i did a the weakening is e what what what a v a v e o oh you're absolutely correct yes yes i didn't see it i did the only obligation the chaplain wave is to count each successive the higher peak or trough lower trough correctly and i missed it sorry dan e yes leg e so it's getting a little extended in the chaplain wave weekly chart a v e o we're looking at right now uh is a symbol and that's uh abo pharmaceuticals uh yes nice you see what i do with this big green candle i'm sorry this long-legged doji candle with the days young but normally what i would do is i grab the outer bars and i just put in a rectangle and say hey you should be trading inside there for a little bit longer and then maybe if you close above the high the wicks high that's the high of about 823 um on a weekly basis next week that's really good and if you pull back then the doji we don't know where it's going to close but it's a 771 if you close under 771 at any point 771 then becomes your resistance area and watch out for the low that was made somewhere around seven what 20 or something like that okay so here we go i i promised myself and and jack in the den said um uh investors business daddy has on as almost a breakout but you know what's interesting for a couple of days now i've had if i can just get that right now there it is got it i've had investors business daddy lists that i'd be wanting to actually go through every day and i just got so busy with other things just their list of ibd top 50 stocks there it is clfd nfe clh swav clk and cf we have we have at least two of these right i didn't even realize right now in the first six we have two of these as long as for some time so i was going to do this completely independent of that because i kept getting questions about well when you look at when you look at investors daddy which i actually don't do every day even though i i so must get in the newspaper for what is it eight years and long now many years now they it's just not around i caused by i used to just pick one up i didn't get a delivered every day but i got it for years to sign an 85 or something like that then they went electronic i'm not that good at electronic just going through newspapers i like to have the newspaper in front of me for this esoteric thing so here we go so um clfd that's your first one clfd look at this clfd trading right now at 121 it's making a leg d a possible pd it almost looks like the on chart right look at the spectacular leg d in the weekly chart clearfield ink i forgot to see what they do and whatever they do it's very very successful so right now you're getting to this choppy and it's got almost i usually start off saying well this could be the chaplain wave uh stalk leg formation you're making an oval pattern here but the oval pattern can also at some point become a top why is it not working now there it is now i've got about 10 of them uh all right let's get rid of this one here there it is so this is a pattern consolidation formation right here um and the higher of 123 at 32 yesterday i can see a little bit more but i can see it's starting a consolidation phase and i don't see this as a potential stalk leg i actually see it more as an arch formation leg d weekly leg e monthly um okay that's clear clearfield ink i mean to check out what they do um nfe is the next one nfe is new go there it is and i always stalled to say what it is because i always want to say new foundry but it's not as new fortress energy ink asias natural gas fuel solutions and we've been along since the uh 45s here it is it's it's 62.79 and and we've taken a little bit off it's at 57.67 that is a peak d and it's pulling back in the day leg d in the weekly leg c in the monthly underneath the previous 65.95 of january next question is um where do i think it's going to go to i think it's in a test of 55 to 54 level and then we'll make a decision we're not we're going to add back those positions we took off or maybe i'll just get out of it completely but it's in the right area for now clh clh oh in the dance someone said uh ton says see this is the tiger tiger dfnn youtube c y b n i'll get to them then i'll do it right now c y b n look at this huge move to leg d this morning um on fray somebody said he's going to roll yep it did roll now it's in d uh just sitting above the 200 been moving out of 90.92 oh 0.92 trading at 0.95 or 5 cents they hit 1.06 what a percentage gain excuse me leg b in the weekly chart yep this is whatever it is uh cyber cyber ink all right well we'll do a little bit more more work i'll just make a note of it right now c y b n we'll look at it again over the weekend all right let's get back to our story we're looking at clh let me see how many i can do before we get to the end of the show uh this is a peak f not an f slash c right now see what happens with the alternate count at some point it resolves itself so right now i have to think it's still an f and it's consolidating at 98.0 uh 0 0 it's underneath uh the turn under the 14th period moving average it did make a peak c in the weekly this should go to a leg d so you could reinvigorate and then push above into the 110s 111 112 and that'll also help the cup formation we've seen so many of these this is in a monthly chart so when you get to that level you've got to start being a little careful because all time high was 110.22 wow we just missed it 110.22 it went i love these we've been doing them for years now looking at 101 109.74 it just missed it by a dollar it's amazing how many times even daily weekly monthly doesn't matter you come back in the cup formation what happens i mean that webinar we did the other day this is exactly what we were talking about how do you deal with the you go from one point down then back to that point what happens at that point is important all up to that point in the back down again so clh i think i wrote down what it is no but didn't clh is um oh this is Celsius holding ink yeah i mean i followed the letter the symbol for years i just always forget oh we gotta we gotta call it we gotta call it we got mike at almond beach mike let's go how are you i think that's fine doing pretty good i heard part of your show in the beginning and um roughly if i'm wrong but are you thinking that the june low maybe v low and then we're just going to get a um you know a pullback that you know maybe we should buy uh as it stands right now i'll answer the question when we return but as it stands right now um if you're looking at the dow you can go all the way back down to 32 000 and i still would like the patent under that i have to start questioning it but i the answer is yes but let's talk about it when we get back are you grinding in the market but seeing little to no return or are you a successful trader simply looking to make your job a little easier learn to take the path of least resistance with david white's powerful trading newsletter david white is an accomplished trader whose deep understanding of technology and the markets allows him to consistently find and share winning trades support and resistance define the ranges in which stocks trade by understanding these trading ranges david white is able to find a path of least resistance david white's trading newsletter the path of least resistance is delivered daily before the markets open to make every trading day an easy win visit tfnn.com today and subscribe to david white's ultimate trading newsletter for $119 a month and try all of our newsletters risk-free with our 30-day money back guarantee take the path of least resistance at tfnn educating investors you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave the chapman wave up-down sequence gives you an edge in identifying price turns finding the 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time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the Fibonacci 24-7 newsletter today tfnn.com educating investors 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 how about we go back to Mike in a moment I just want to say the one minute e-mini look at this from 9 50 this morning you've been in this narrow rectangle this is the narrow we've talked about the wide one before but now comes the narrow one and that says this is okay but it needs to get to the 42 48 level it's at 42 38 right now and it has to do it fairly soon above the 200p moving average because a close underneath 42 30 anytime today would be a big negative all right let's get back so Mike this is what I'm looking at within the context of all the different time frames and you can see as someone mentioned UNH almost an all-time high the united health group the stocks that have been on fire the ones that have really been working in this particular up phase have continued the ones that have been weak have had bounces but now they could become somewhat vulnerable going to some selling but in the big picture what I'm looking at is the weekly chart has gone from 29 653 to 34 281 that is a really big move a 5000 point move and I'm suggesting to you that based on everything I'm looking at here I do anticipate bad news I think this is a very volatile period and we've taken quite a bit off just in terms of shorter term trades more importantly we've raised cash but I'm suspecting that we do get some kind of a pullback um needs to test the the low 32 000s at some point I don't know how soon it is maybe we get another big bounce in the end of august into september but at the same time the bigger picture because the monthly starting to improve says that the low that was made in june is really an important low I'm not saying it's the low in this move but I am saying it's a very significant low and I I'm treating that as a kind of a fulcrum for the cup formation on the upside how long we take to digest it's going to be a hope that helps you yes it does basal thank you have a great weekend and you too thank you for calling Mike so folks thank you we've got great programming coming up we've got a replay of Steve's show that he did at eight o'clock this morning and so that's going to be coming up I'll do the news and then Steve comes up recorded a show from earlier on and then you've got thinkorswim, you've got Larry Fasalvento, you've got Dave White and