 The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, Larry Pezzavento. Okay, looking good. Billy Ray feeling good, Lewis. Our guest today will be Stan Harley at the break. I wanted to point out to you folks, those of you that get to 24-7 and the updates that I sent out in the videos I sent went out last night around 10 o'clock California time. And it was saying that, you know, we had that big run up on the close and the ABCD on that measured to, I believe, 45-12. I think it got to 45-21 and then overnight and missed them in something news out because when I got up to check it out I couldn't believe that the prices had dropped 30 handles. And of course we went down and took out the previous days low down at 44-60. We're trading at 44-64 as the last I saw. The problem that we have folks is that hide that we made yesterday was basically the equivalent of a four-day rally starting on the 11th last Friday. So you had Friday of the three-day rally, Friday, Monday, Tuesday. And that's not good. And the fact that it broke down is very, very troubling if you're bullish. And the reason why is when I talked about this at the beginning of the show, the Dow has held. Just check the newsletter. I've put large markings all over the chart because we had held a 382 retracement for 11 days. And now if we get below 35,000 even, we're at 35043 right now. That means that that 382 has failed and folks, there's nothing but blue sky under that. Okay, so that's what I'm trying to bring to you is that it's my two cents worth. And if you pay more than two cents, like I always say, you overpaid. Okay, the next thing I'd like to talk about is the gold market. I posted here in the den, the chart, the weekly chart of August gold. That's the spot gold. Spot gold right now is the December trades for about $40 more because of carrying costs and insurance. So the spot gold, which is the August, was running right about, just saw it at $18.95. That's right, below $1,900. So this tells us that if it breaks down and we're sitting right at the 50% on the weekly, so if it doesn't hold this level, then it looks like it's going to be pretty bad. Now we had an order to buy the gold last night at 1933 and we did. And it started to rally, got up to 1936. And then what I did was I told, I sent out a video. I said, let's put your stop at 1929. So you're only going to risk $4. Well, the report came out and we were stopped out with a $4 loss. But when that happened, I said, okay, there's something not right. So I went down to the smaller timeframe, looking at an eight minute chart of what happened. And you'll see an absolute perfect, absolute perfect ABCD that came in at $1944 per ounce. And now we're trading at $1935 per ounce. So this is telling us that there's something a little bit different going on here in the gold market. And this weekly chart says you could easily go $100 lower. So maybe it rallies from here. Maybe it doesn't. I don't know. All I know is I'm on the sidelines now. And then speaking of sidelines, if you remember I talked about the wheat trade that we, that I really love the wheat trade as my trade of the week. I loved it so much. Well, I loved it so much that my eight cent stop was taken out yesterday while we were on the air. And where is it trading now? It is trading 22 cents lower than where my stop was filled. So that's why you put a stop in folks. Because if you don't, there's nobody going to be there to protect you. I can promise you that just not going to happen. You got to protect yourself. It's all part of the environment that we have here as a trader. You've got to come in and say, yes, this is where I can make my stand. And if I'm wrong, you get out of dodge. You wait for another bus to come by. There will always be that second girl on the bus. That's why my grandma always told me, we always have two quarters in your pocket. Because if you don't find your little honey on the first bus, she most probably will be there on the second bus. So I've lived by that creed. I still have one quarter in my pocket. I fucked her all that time. Anyway, folks, I happen to be in Ojai, California right now, visiting my daughter, Laren. It's an incredible place here. It's in the Santa Clarita Mountains here just south of Santa Barbara between LA and Ventura and Santa Barbara between Santa Barbara and Ventura. And it's just beautiful. These vineyards, they have a nice little spa here called the Ojai Valley Inn. And it's $1,200 a day. And they're usually booked in advance. We used to come here to have dinner many, many years ago. It was a really fun place to go. But there wasn't a spa then. And it was really good food and everything. But the problem was that you had so many people coming that they just got larger and larger. And now it's just a huge complex that is just absolutely amazing to me how big the darn thing is. So anyway, getting back to the markets, we've got some real serious stuff going on. The market may rally today. But if it closes really badly, and I mean really badly, it's below $44.58 in the S&P and below $35,000 in the Dow Jones e-mini, that would be really, really catastrophic because it's breaking major Fibonacci stuff that's held for week after week after week. So that's why we're really paying close attention to it. That's why. And I sent a special video out on it yesterday, the fact that we made that ABCD up there. I said, if you can't short it here, you can't short it anywhere. That's exactly, it turned out to be pretty good. The gold trade lost four bucks. The wheat trade, it lost 400 bucks. But the others have made up for it. And of course we had a really nice pattern completing in the Euro today that's already made about $500. So it's been a pretty good day as far as outlining everything that we're watching here. But still early in the day, we've got another three and a half hours, five minutes of trading, so anything can happen. And it usually does, that's what they usually tell us. So paying close attention to that will keep our eyes on what these markets are going to do. But the close today will be extremely important because if we do close badly today, making new lows, then that is not a good sign that usually means that something is going to be sort of dramatic to the downside. So I hope that helps. I had more charts to send to you, but unfortunately I can't post them anymore and it makes it a little difficult too. And I have no idea why, folks. It seemed to be working last night. I had all my charts brought up to date. And you know what? I just can't find them. They didn't post on my desktop like they should have. And so I have no way forwarding charts that I'm looking at here. So that's the skinny. So let's take a little break here. 277.976648 Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing at number two for the year. An amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn. And he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee. So you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 days risk-free today. TFNN, Educating Investors. Are you ready to take your trading to the next level? Introducing Tom O'Brien's award-winning newsletter, Market Insights, your key to successful active trading. Tom O'Brien, renowned for his expertise in the financial markets, has designed Market Insights to be your daily guide to profitable trades. Tom publishes his daily Market Insights newsletter every market day before the market open, along with updates when warranted. Stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to your inbox. Whether you're a seasoned trader or just starting out, Market Insights provides the edge you need to navigate the markets with confidence. Ready to join the ranks of successful traders? Head over to TFNN.com and subscribe to Market Insights today. Don't miss out on this opportunity to supercharge your trading results. Market Insights comes with a 30-day money-back guarantee for all new subscribers, so you have nothing to risk. Don't miss out on this opportunity to revolutionize your trading game. Head over to TFNN.com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter Market Insights firsthand. TFNN Educating Investors TFNN has just launched their new trading room, the Tiger's Den, hosted at Discord. TFNN has been educating traders for more than 20 years, with live programming hosted by a variety of professional traders during market hours, and now they are expanding their reach with the Tiger's Den, available to all Tigers and Tigresses for just $1 for the year. There's no catch or added costs when you join our community of traders. In the Tiger's Den, you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas, interact with other Tigers and Tigresses as they share trading ideas, news analysis, and discuss the market action all trading day. Even at night and on the weekends, the Tiger's Den at Discord is accessible on mobile or tablets as well, so it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of TFNN.com. Call now. Toll free. At 1-877-927-6648. Internationally. At 727-873-7618. Okay, folks, I posted the chart of coffee don't trade it, but I do look at it and several people asked me about it last night, so I wanted to bring it up. As you can see, we had that beautiful garlic down there at that $155. It rallied $0.11 up to $166. And from that level, you can see now we've broken down, we're making new lows, and that means that charts not coming through. Well, what a big surprise that is. Let's try it again now. See if we can get this old puppy up. Because the good news is, folks, stay tuned because you've got Stan hardly coming up next and Stan posts his own stuff. I just don't like this very much, Al, but nothing else I can do, my friend. So bear with me. I'll try it one more time. And then Nebihachi. I will not be here on Friday. That's going to be a travel day, but I will be here tomorrow. God darn it. Forget the coffee. Folks, if you have any questions, 877-927-6648, I'd be happy to answer them if I can. If not, I'll make something up that sounds plausible. What I'm talking about today is what's happening in the stock market is extremely important, because if it doesn't hold these lows, we're looking at something really sinister on the downside and you don't want to get involved with that. It can easily hold. There's no question about it. There's Black Rock, Grand Camp, and Merritt, and State Street. They run about 67% of all the volume. And if they want it to stop, they can stop it. That's the main thing. Now I'll try one more chart because we've been bearish. If you remember, the trade of the week was the being bearish crude oil because we had that big ABCD complete up there at 84.75 on Friday. And since that time, we've been heading lower each time. This is the high you were talking about right back here. And now you can see that's been moving to the downside and we've actually broken below those levels by more than $2 a barrel. So we're down right around almost ready to break $80 a barrel. We're setting right at 80, 30, I believe, as last I saw, but perfect example of how the 382 works. If you'd looked at the wheat yesterday, it made a low at 32 then it rallied up to 46. That was the 382 of the previous high. And of course now we went all the way down to 626. So there's nothing to do in the wheat as far as we're concerned because we stood aside after that trade was not working and we go and try to keep the trades at work and the ones that don't work, get out of dodge and let the market work for yourself. That's what I would be doing. I don't always do it the way I think I will but that's what I usually try to do. So going to be very, very interesting here to watch how these markets happen. We got gold now is trading at 1936 right now in the December gold. The high has been 1944 and as I mentioned before we did try buying that. Well, we did buy it. We raised our stop to the 29 level and we took a $4 loss in that and decided to stand aside and watch to see how these other things moved around. Folks, I did have a really nice group of charts to show you but when I posted it to my desktop and I tried to take the picture from the desktop to what we're looking at here it just doesn't happen. It's like it's a ghost and it doesn't want to be found and that's all you can do is to move on to the next one and not worry too much about it. I wanted to show you this was the other part that was interesting today in the gold market because after that low was broken I wanted to say, oh, maybe this market has turned bearish and so what I did was I went down to an eight minute chart and started watching the gold and you'll notice here what we do we went right up to that 1944 we're down trading at 1935 so you'd be in a breakeven trade in that one if this thing breaks below that other low we'll be looking at December gold under $1,900 an ounce and it's at 1935 right now. Folks, if you can move 20, 30 bucks a day you could be under $1,900 in a matter of a few minutes in these markets because they're so dug on volatile so that's what I'm paying attention to here today but we do have a lot of things that are really negative as far as the price action we've got gold well gold is actually down today we've got crude oil down sharply the treasury bonds were down but they bounced back a little bit after the report but they've been so oversold they were probably ready to do something like this also the Eurolight that we mentioned we had that area at $109.95 we're now trading 50 handles low $9,100 $109.1 as opposed to $109.5 so that's about a $400 gain in that one so those are the ones that we're really watching very very closely here today because this one in the stock market is super big folks because that was a three-day rally and if you want to prove how harmonic these things are there's one of the charts that I had it but it's gone now if you just do a 30-minute chart on NASDAQ and look at the last three major rallies the last one was today but look at them they're absolutely perfect in other words a number of points and that move is absolutely perfect within 10 points and that tells you that something big is about to happen over there so I hope that makes sense we unfold these things chart patterns that we're looking at here today we've got the crude oil is just about ready to break but well it's at 80-50 and hasn't really bounced much at all today so getting a nice little bounce here in the S&P it got up to 40-70 now we rallied about eight handles off the bottom but a long way to go for the end of the day folks remember it's not how much money you make it's how much money you don't lose that's a whole key you know to winning in this business you can kiss a lot of frogs and you won't get any warts as long as you protect yourself if you know what I mean because if you don't protect yourself nobody else is going to do it for you so that's what we do here is to teach you how to use that protection use a stop and some type of money management that will keep you in the game because if you don't use a stop you'll be sitting there with a position you think is going to work and you'll be in it three or four months and pretty soon good by house, good by car, good by wife and you don't want to have that happen either so always protect your assets and you'll always be just fine there won't be any problem with catching a good trade here and there but like I mentioned it's not how much money you make it's how much money you don't lose and that's what you focus on focus on the losses the profits will take good care of ourselves now we're going to have Stan Harley coming up tomorrow we have another one of our fun guests they're all fun but this one is a an ex fighter pilot by the name of Jim Bartolioni of Bart's Charts he will be our guest tomorrow right after the beginning of the show at one o'clock he always has some really good things remember about five or six weeks about seven weeks ago he was on here and say gee look at his 3-8-2 bearish Gartley that we had in the NASDAQ and well you can see what happened we had to tear the hospital down to build a new one that's how important that darn thing was so that's what we're really watching here so far so I hope that helps we're going to have Stan coming up here in just a minute and then we'll be ready to go I think we have a caller coming in uh-oh something happened here not good let's see here Steve from Austin, Texas is there how are you Steve? yes yes sir what can I help you with my friend hey Larry I just wanted to thank you for taking my call I just wanted to ask you on platinum I mean a lot of these markets are um looking pretty bearish right now but what would be a downside on platinum from your looking at your charts what do you think would be a downside target? 750 hope that helps the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market the US futures market and the Shanghai gold exchange the gold report Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU HUI GDX the dollar bonds the South African Rand as well as 25 different mining equities with specific buy-sell recommendations the gold report new subscribers get a 30-day money-back guarantee so you have nothing to risk subscribe to Tom O'Brien's gold report newsletter now at TFNN.com sign up for the Fibonacci 24-7 newsletter at TFNN.com when you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis after all he's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from Larry on market 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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 TFNN.com then hit watch Tiger TV okay folks we have great deal of pleasure I'd like to introduce you to the master of cycles Mr. Stan Harley Harley stock market letter you are a master at this my friend I'm not joking you're damn good at it so what do you got for us today my friend well Larry I thought we'd go through some charts here that folks might find of interest let's take a look at the stock market first shall we let's go this is a chart we showed couple of weeks ago this reflects a cycle that spans about 80 trading days and when I was on the air there with you a couple weeks ago I said I thought we were very very close to making a cycle high and my regression analysis suggested right at the tail end of July first of October this next cycle should again recur and and what we saw was on July 27th we saw the S&P 500 and the your composite but in a high a day or so later than your composite and I believe on August the first the downed industrials topped out and we've been consolidating for the last couple of weeks so wonderful what so that's old news so what comes next trying to trying to think of something cute and I just didn't come to mind here being the restaurant business you never know how good your mouth is so let's take a look at the present I ran this off just before coming on the air this again is the S&P 500 and we pulled back fairly nicely we broke it below the 15-day moving average which has since curled over and we're sitting as you and I speak right on the 50-day I'm I'm of the opinion that we're essentially there from the structure from the pattern and from a short-term cycle I'm going to share with you here in a moment but my analysis has yes a low point in this consolidation is is imminent it's right here it's right now I'm just not looking for much further decline from where we are right now let's take a look at the Dow industrials now the Dow interestingly enough although it's pulled back below it's 15-day moving average it is not tagged it's 50-day like the S&P has so let's just spend a moment here and let me convey my thoughts on what I think is developing here in this consolidation up to this point the last several months the Nasdaq has essentially been the leader of the pack and what I think is developing what I think is we're seeing a relative strength shift from the Nas to the Dow so the Dow is pulling back fairly mildly here in this consolidation and I think in the subsequent move up which I think is going to begin here very very shortly I think the Dow industrials will lead the charge now so when the stand thinks the next low is likely to occur here is a cyclical pattern that I have tracked for some time it spans about 52-53 trading days and sometimes that cycle expands and contracts but my regression analysis shows that it comes in just under 53 trading days and as you can see on the chart it's done a dandy of job of picking out all every single one of the lows over the last couple of years back in this time frame it expanded by 1.5, 1.5 and I get right back on track again 1.0, 1.0, 1.0, 1.0 I think we're making a low right here as we speak if not today within the next day or two another one should the pattern continue without any degree of expansion or contraction the next one will be due at the tail end of October and then the next one after that is due in the middle of January okay I think that cycle is going to invert in January so rather than make a low it's going to make a high what I've done in this next slide is I've put all the dates of the lows into a spreadsheet and done what's called a regression analysis which is a mathematical technique that statisticians use to define the best mathematical fit to a data series and that's what I've done here I've plugged in all the data points and I've done the mathematical analysis and what the math does is it tells me what the cycle length is it's 52.8 trading days and the standard deviation which is an important facet to understand when you do any form of analysis is one needs to be very aware of what the standard deviation is and the standard deviation in this analysis is just a skoshy-woshy over two trading days so what does that mean it means based on the analysis August 14 with the 68 probability of the low occurring within about two trading days of that date so we're within that window right now could it occur here or two or three from here sure it could CFNN just called me and said let's start being posted oh my gosh yeah again I just got a Skype message on my phone that so they would not be able to send you that large check that we send you every two weeks so we've got time to do this we're not in a hurry so just go through the first couple because I thought I could see him but evidently nobody else can but let's just go through them quickly so nobody else can see him in there and they could copy him if they like okay let me see if I can solve that problem okay it's the first time we've had this problem like this but okay I hope the charts are coming through now alright I'm going to give you a big 10-4 here right now and we'll be able to see it and hold on we'll okay they got him now we're ready to go okay you know something I think the error was on my end I don't believe that for a minute you know as I go through life the level of mistakes the number of mistakes it never goes to zero it gets fewer and fewer but Larry it never goes to zero I don't know never does I was driving up to Ojai to be with my daughter and I went past Westlake village yesterday and I was thinking when I bought my house there was two lanes now it's five lanes and folks it's five lanes at the Indianapolis 500 those people drive so fast on that road that I mean I must be getting old because I said oh dear I'm going to stand the right lane on this one I'm going 75 and they're passing me up so glad that I didn't have to do that again I was just in that same neck of the woods a few weeks ago Camarillo Thousand Oaks Westlake I know for 34 years I know I remember yeah still had the warm feeling you always had yeah and apologize folks my bad here but here's the 53 trading day cycle that I meant to show a few moments ago and with the purple lines there are all the lows back a year ago it expanded by 1.5 a couple of times and then it got right back to it's heartbeat again that's what cycles do they're not always boom boom boom they're not a perfect clock all the time they have some quirks that the analyst needs to be aware of they expand they contract sometimes they disappear for a heartbeat or two and then they come back or sometimes they all together disappear so they're not an absolute perfect tool for the kit nevertheless they're a very darn good tool for the kit if just one knows how to use them amen stay with us folks we'll be right back with Stan Harley Harley stock market letter please subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by basil Chapman creator of the trading methodology known as the Chapman wave the Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices get the opening call newsletter by basil Chapman in your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors are you ready to take your trading to the next level? introducing Tom O'Brien's award-winning newsletter market insights your key to successful active trading Tom O'Brien renowned for his expertise in the financial markets has designed market insights to be your daily guide to profitable trades Tom publishes his daily market insights newsletter every market day before the market open along with updates when warranted stay 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is I've put in all the data points and done what's called a regression analysis which is a mathematical technique that finds the best mathematical fit to the data series and it crunches the numbers and says okay we have a rhythm here of about 52.8 trading days with a standard deviation of 2 and what that says is look for the time period around August the 14th with a 68% probability of the low occurring within 2 trading days a 94% probability of 2 standard deviations or 4 trading days and a 99% probability of 8 so what that's telling me is we're very very close to some kind of a low here whether it's today tomorrow the next day well we'll know after the market turns but I think we're getting close the next chart is something that I've shared with the viewers here on your show in the past I thought I'd just kind of regurgitate I think that after we make this little low here I think we're going to push up higher perhaps into September and then come down to make another low in late October and then another higher high is yet to come and I think it might very well occur with this cycle that I'm showing you on the screen this is the New York Composite going back to 2015 and springing forth from the lows we had in January that year is a rhythm that's about roughly two years so we made a low in January we made a high in January 2018 I know the high in early 2020 another high in early 2022 and if the pattern continues it suggests the next high in this series would be middle of the January of 2024 so what's that about five months from now and that's something I'm going to be watching very very closely to see if that develops very good wow okay next one please one last chart brought today this deals with precious metals we've talked about this in the past I am not a bull on precious metals I think we've got cyclical pressures to the downside because of what you're seeing on the screen here this goes back to 1970 and what I have found here is we tend to make lows in comex gold every 94 months plus or minus eight that's been a very very reliable pattern and when I dump that information into a spreadsheet and do a regression analysis of that data it points to the May 2024 time period well here we are August 2023 so to expect higher prices from here I think would be betting against cycles of course this cycle could go poof and disappear or it could expand and you know that happens and it usually does when I go in the air with you and say hey looky looky you know the cycle gods are up there they're pulling those levers and turning those cranks and doing their everything they can to make it not work you probably never had that happen but not very often but just about every other time yeah but let's say let's just pretend for the moment the cycle gods aren't listening right now that says next May plus or minus we should see a low in the metals complex so that's something something else I'm going to be watching for okay that that's really good things Dustin do you do you follow the treasury bonds I keep asking you that but I I don't remember I do I haven't I didn't bring any charts for the bond complex today okay next time thanks for reminding me well I'll do that but yeah the bonds are kind of doing a little what I call floor mopping around the area of last October's lows right now okay and longer term I think bonds have seen their best day in the sun we tend to see 40 year moves in the pattern of interest rates and bonds and that's been a fairly reliable pattern over centuries though the last pivotal high in that pattern was late October 1981 before that we had a low in the summer 1940 before that there was a low in 1900 before that 1861 and so on so about every 40 plus or minus two years we tend to get a major pivotal shift in interest rates slash bonds of course when you had 40 years to 1981 you get 2021 and the low in 2020 was certainly that in that window of time so that tells me that the likelihood is high that that 40 year cycle has made its mark once again and interest rates are on the way up not just for a few months not just for a few years maybe for decades last several runs lasted 40 years up and down up and down so how long is this one going to last I haven't done that analysis yet but I think it could last for a number of years I think I did safely we got a caller Jeff from New Jersey are you there Jeff yes hi Larry thanks for taking my call I wanted to ask Stan if he happened to have done any cycles work on the banking system the United States banking system maybe based on a banking index I I have but I don't have any charts for it and I can't tell you what the pattern is for memory I'd have to go through my folders and pull it out but I have done some analysis on it just as a broad brush statement most stocks most indices most sectors tend to move up with the Dow the S&P the NAS the New York Composite not all but the vast majority so if one sees the Dow S&P NAS New York Comp going up that generally you know the rising tide lifts all boats tends to tends to play out but I'll try to remember and maybe next time I'll help I'll put together some cycles work on that index thanks you thank you like you said you're seeing equities hitting a bottom here within the day or so so if we're hitting a bottom in the equities then you would and it starts to rise you would expect the banking equities to go up with it I do that that's my view yes I think we're okay we're very very short to some kind we're very close to some kind of a cycle that's that's my view all right excellent thank you very much thanks for calling in Jeffrey we appreciate it hey Stan thanks for joining us today buddy and we'll have you on again really soon and we'll be watching this date really closely we're coming into some kind of low so we're going to find out whether it's going to be a big one or a little one but we really want to thank you for the stuff that you show us because you've been really accurate and you should be really happy for the things that you do because they've been flat out spot on my friend so we really want to thank you again okay thank you I just need to remember to click the share button when you ring the bell we'll get it right thank you very much for being on Stan my pleasure folks actually pay a few bills here and I think we've got that going on right now and no we've got another yeah there we go we're ready to go now we'll be right back if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and options report today money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN.com TFNN educating investors you might think that if you want to be successful at trading in the stock 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community of traders sign up today and become a part of this educational community of traders just visit the front page of TFNN.com OK folks I posted a chart that I think is the most important that's the one that shows where we are here in the Dow Jones E-mini that's at $35,000 if we get below that today that's below the 382 that'd be the first time in the last 12 days that has happened so I think it's important that we pay attention to that because if it does fail it's going to be pretty nasty I would think but as Stan said this could be the low, could be today could be tomorrow but he's looking for a low in here for a short term trading that's what you want to be watching so I hope that helps you on some of the ways that we look at these charts because they are not they are predictive but within relative limits and that's what the kind of relatives you want to have is that you put your stop in if you're wrong and that's the bottom line so because if you don't know how much you're risking you risk it all and believe me I've been there done that not very much fun at all we still are looking at markets are just about red everywhere with the exception of the British Pound and the British Pound and the Euro are up slightly and those are the ones that are red, green, everything else is everything is red with the exception of the British Pound and also the Euro so those are the ones that we're paying close attention to too we were bullish gold, we've now turned to the short side on the gold market and whether that's going to be the right side we'll have to wait and see as I showed with this long-term chart that we had this long-term weekly that I posted here on the show today that it is a very negative chart and as you can see that last rally high was a 3A2 and that means that your ABCD measures to in spot gold below 1,800 folks we're trading below 1,900 today at 1892 right now in the August gold of December is at 1936 the difference in cost is because of the carrying charges involved so have every day an attitude of gratitude and I'll see you on the flip side tomorrow