 The following is a presentation of TFNN, the Tiger Technician Hour with your host, Basil Chapman. Call now. Call free at 1-877-927-6648. My name is Basil Chapman here on the 9th of November and happy birthday to all of those celebrating your birthday today. I've got a family member and we've also got a family member in the TFNN team with Tom O'Brien. So happy, happy birthday and everything the best. We're looking at the S&P down five. Now what happened here and this is the whole psychology of the market. If you look at the market as a test of the mentality of buyers and sellers, look at this. Here's the 200-period moving average and we're going all the way back to yesterday about one o'clock. Actually, we can go back even earlier. We can go back to 11, just about where we are 24 hours ago. The 200-period moving average, the market dipped and then it went above the 200-period moving average and then it held it, went to peak F, pulls back, holds, holds, holds, and then bounces up, comes back, retests. It keeps going higher. That determination was fulfilled when this morning at about three o'clock eastern time, the S&P pulls back sharpie and then all of a sudden has a spike and look at this green nine-period moving average. Has a spike, holds, I've got an alternate counter, F slash A, then a G slash B, and it's still holding. You're thinking after so many days, the Dow is still in a leg, A to the upside, the QQ is in a leg, A to the upside from below that was made Friday two weeks ago. Now what we're looking at is within the context of the bulls, they turn around and they say, oh, this market just, and the bear say, this is impossible. This is just, it cannot keep going higher. Well, what happens is it goes to peak C and we're always looking for D's in the Chapman Wave methodology, the fourth highest peak, and that's where other things can happen. And right here in the one-minute chart, you get this beautiful cup section from the high that was made at about 850, pulls back, and if you look at the measured move, the vertical measured move of the technicals at that point, and then the technicals when it went to the higher high at 41, 41, 13, at about nine, let's call it 916. Look, they make a little double top in the E-mini source to pull back and all of a sudden the stochastic, which is above 80%, and then suddenly goes under it. Then I've been moving average crosses negative at that peak F. This is that cup for me. I call it the drop bucket formation because what happens is, it's like from this area, there's a backhoe that lifts up the soil and lifts it up, puts it into the bucket and then plop, you know, the bucket opens up and everything starts to tank and it comes sailing down. And look at this, we go from 41, 44, 13, round number high to a low, maybe as we're speaking, yeah, just about 43, 89. Yeah, we are at 43, 92. So what happens is that the disbelief and then the bullishness that gets kind of, especially when you go from this peak C to that peak D, even a higher high and the technicals are starting to falter, that's where the bulls are just totally surprised. But so are the bears because the speed of this is, if you weren't using some technical analysis to be able to get into a short position and we have a couple of people then who did that, then look what happens. The speed in which it comes down and what's it doing? It goes right to the 200-period moving average, holds it for just two, three bars and then plop, it goes under it. So and now the Fubonacci levels that I've got in here are useless because we've gone above that, so this I have to take out, let's just get out of it, remove it. And also it's a little messy, I don't need it right now. I guess remove, yeah. Oh, no, what am I doing? Oh, wait a minute. Fubonacci, remove. Why are there so many here? Just remove, remove. No, I think I've made it. I hope I haven't made a big mistake here. Sorry, I'm taking a little time here because I'm removing these but I should have just said Fubonacci retracement. There, okay, good. And there's still more. Gosh, I didn't realize that. I wonder why there was so many lines. I don't like too many lines. Okay, look how clean that is. All right, so within that context, I wanted to say the surprise of the move down so soon after the, so soon after the futures had made a high and new recovery high so that when the market opened, it was opening to a kind of a weakish market. So now let's just look at this. Now I can go through all the numbers that I want to talk about what I see at this particular point. So let's go through to the, go start from the beginning. INDU. I said I'd do something. I'll get to it. So the high yesterday of 34,252. So the, the chapwave inside track we saw is go above it. Let me just extend this line a little bit. There it is. Go above it and now it's testing it. So this became the repeller zone is trying to become a propeller zone, but we're still too close to it. So it is now a support level. And what I said to subscribers, we're anticipating a pullback. We're anticipating that this chance that the, that this gap, the low of the 3rd of November, the low of 3946, that somehow we can get into that area. That's going to be the big test and maybe go a little lower. But this is what I call in the chapwave methodology. We often get this in the futures when at 830, there's an economic report or sometime during the day there's no economic report. You get a spike up and it's like a single leg up and then it fails and it comes down and takes out the left side. Look, I don't see that here because I see the stochastic is flat at 94%. The MACD is expanded. The 9 period is way over the 14, the 200 period moving average. The price is way above that. And that's a 30,000 78. They're tremendous support. So it's going to have to be a real dark news that the market doesn't like at all. And it just tanks the market. I don't see that right now. So I've had no choice, but of course a single leg A, maybe a peak A today, but a buy mode. And that implies that we should still go to a leg B, then a peak B, and then a higher leg C because the floating net until it makes a peak, and then a peak C, and then a D. That's a really big ask when you've had a move of almost 2,000 points to the upside to say that, oh man, we're going to double the move. No, what happens very often, the greater the move up and then the lower the next high is made. In other words, let's go to the S&P. The S&P is probably making a peak B today. No, it's a leg B, 43, 93, 40. So a little bit above yesterday's high of 43, 91, 20. So let's just say it pulls back and then it makes a leg C just normally higher. So you understand that the Chapman's methodology says if you go from a buy signal to a buy mode, you should see four higher peaks. If it's upgraded from a buy signal to a buy mode, it means that you should go to at least four. It doesn't say how high. You need other techniques to do that. So what I'm saying is, I believe we're in a buy mode. I will only know where the V shape at the bottom of any dip occurs here to make peaks A, or in the S&P's case, a peak B. In the QQQ, it's the same as the Dow. It's just made a new leg A. It hasn't even made a peak A yet, still a leg A. And in the QQQ, oh, sorry, QQQ, I don't believe it's completely different. But let's go to the S&H. Because S&H is in a leg B and it's above the sidetrack balance. A lot to talk about. Downtown 74, S&P is only down four. We'll be back in a moment. If you're looking for potential trading setups in the stock market, then Rocket Equities & Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them, using a combination of fundamentals and technicals. Sign up for Rocket Equities & Options Report today with a 30-day money-back guarantee so you have nothing to risk. For all the details and to start your subscription today, visit the front page of TFNN.com. TFNN, Educating Investors. 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There's no catch or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Toll Free at 1-877-927-6648 Internationally at 727-873-7618 Hello, just as we're going through this, let me just get to a question that I had here about V-SAT. V-SAT is V-SAT in satellite communications. I followed this for quite some time at a very big arch formation from 2020 back early in 2020. I ran from the 26th area up into the almost 70, and then came all the way back, held that left-side low beautifully, and then I put in a left-side, right-side price time match which said that to July of 2023, we should try to get back to the 27th. It actually went to the 27th, but it never took out the left-side low that was my target of 25-10. And it continued lower one more later, and then it continued even lower and lower and lower. It went down to the 15s, ran up to the 22s, pulls back with a higher high, sorry, a higher low, and now a very good move today, up 18% to 3.2. So John says, hello Basil, I bought V-SAT on that double bottom, and today broke out 14%. Your opinion, if you have time, would be greatly appreciated. Thank you. So I've drawn this in right now. I've updated the chart that I had earlier before I had this as a move that could go to the left-side high of, let's see, 20, I think it was 20.80, I can't remember, why is it not showing? There it is, of 21.50. And then we ran up instead to the high of 22.22 on the 18th, then it pulled back. I love this action, and what's interesting, I don't know if this is part of the XLC, am I correct, XLC? Yeah, the XLC communication service, because Verizon and AT&T, they were doing horribly then, the XLC hit the 200p moving average of 63, and then ran up, it's in peak A, peak B, and new peak A, yep, it's a buy mode, and look at that beautiful chat, I couldn't believe this when I was looking at the major communications, and they were all doing just horribly, and other ones that maybe it was Dish, maybe it was Comcast was holding well, I don't know what it is, but it was holding so well when it shouldn't have been holding on, it should not have been holding on, but it wasn't listening to me, it held well and it's still 9p moving over the 14 in the Wiki charts, and this I think is part of that, I should check, but I'm not going to check right now. I just want to look at it because VSAT independently has had a really good move, it hit the 200p moving average in the Wiki chart or in the 45s, it comes tumbling down to the 14s, so I like this now, so you have got, you bought on that double bottom, now this is a little mini double bottom, so you bought in the 17 or 18 area, I love the fact that you did that and today you're getting the result, because if it wasn't today and it broke under, it went to 1710, I'd be saying to you, it's making lower lows and lower highs, so this is really important. The Wiki chart needs a lot of work, so what I'm going to suggest to you is you've got the position, the question really is, do I buy, do I sell, do I hold? And as I'm looking at it right now, I'm suggesting in this market, and this fits exactly the scenario that I wanted to talk about, where the stocks that it just being clobbered is the only word, I don't know if that's an English word, whatever, we've always used it, clobbered. Just smacked around, and now it's showing strength. If you look at Disney, I suspect this is probably also not satellite communications, but it's in the communications area, a beautiful move up today, right to the 200p moving average, and it's funny, I kept saying all week, is this the time to be at least starting a position in Disney, and we'll focus on other things, which seem to be working out, but it wasn't pity, because I want to be building for subscribers, building a portfolio that is in the other, in the other sectors, in the other stocks, that are just, they were decimated, and now they're working well. I wanted to talk about that, I'll use that moment now. Look at Shopify. Shopify absolutely brutalized, 176 in November of 2021, goes down to 23. Now it's showing strength, and that tells me that in the, everyone keeps talking about the Magnificent Seven, don't, you've got to learn to focus on the market, you've got to look at all the chess pieces. This is the area to look at, the laggards are coming on, so we could get a rotational correction in the general market, but we could start to see, you're not seeing it in the IWM, it's very specific to stocks in certain areas. So just keep in mind, so the fact that you've got VSAT, and it's working out well today, and if it's earnings on what it is, I like that. So you're in the, remember in the magician or politicians, they wave the left hand, wave the left hand, it's the right hand that's doing the trick. And everybody's looking at the left hand, or the right hand, the left hand does the trick. And this is exactly what you're looking at right now. So within that context, I love it, and it has another one, a D-dog. Another one, and many of us have been looking at for ages, especially some subscribers that I know are always looking at it. D-dog goes from 118 down to 79, 78, and it's trading today, and that's what I'm talking about. So we've got a rotation going on, you're in the right area, the right stock doesn't matter, it's the wrong area or the right area, but preferably the right area, it's fabulous. So let's get back to this. So this is what I'd be looking at. In this particular context, it is just early in the day, I don't know what the reason is for it to be bouncing like this. I would keep that core position as long as I can. But I'd have a trading position. And this is given, I wanted to get to the 120-winner chart right here. Now I'm spending a little time on this, most people are not in VSAT, but that's not the issue. We're talking about analysis here that we do at TFNN for anyone who asks. And this is a question that came up and I'm just going to do it. So you see the trend of removing areas at 19.32, it's way above that. So I would look at this and try to keep a core position and get a trading position. And the trading position says, maybe I even have to go to the 10-minute chart of VSAT, VSAT. And after congratulating Jimmy and the Dan, he had a short position on the E-mini. He sold it just almost within a couple of points of the high. And because I know that he likes to keep positions that are working, congratulations. That was a really perceptive and significant and technical entry. And congratulations. So this is A, this is B, this is C, and there it is. C and yeah, this is D now. So VSAT is pulling back a little bit in the 10-minute chart. You can see it right here. I'm going to do Apple as well. I was asked if I could do that in the very short term. So I would say to you, just you've got to give it a little time because if this market does down almost 100 right now, this is exactly what we were looking for for Subscriber to the Opening Call. The S&P is down only 7. So there's a rotation going on. The QQQs are down only 12 cents, or 20 cents, sorry. So what I, QQQ, yeah, 21 cents. So I hold off a little bit, but if all of a sudden it finds supports at 20.31, if we can hold above 20.08, that 20 cents from here, it doesn't go there. I'm just giving a scenario. If we can hold there, and in the 2.30 to 3.30 time frame chart, it looks straight back. There was 20.50. That's the kind of action you want. And then I'd be looking at possibly adding to that position. But meet that QQQ position. This is a nice move up. I don't want it to be a one-off option. So hold, make a new recovery high tomorrow. Down's down 100. I'll be back. Currencies, commodities, and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger Forex report. Teddy Kegstad breaks down the Forex markets every Monday using his 30-plus years of experience as a trading veteran of futures, forex, stocks, and options. 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You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks, and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com Educating Investors Steve Rhodes started his trading career as a student almost 20 years ago, and the student has now become the master. 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That's TFNN.com and hit Watch Tiger TV. Hi folks, so I was asked about Apple if I could show Apple in today. So look at this, in the temporary methodology we're looking for at least a bicycle to be upgraded to a BIMO to go to a D. That's the fourth highest peak or high, I can go E, F and G, but D is where you've got to do an analysis to see if there's an instant restart for another A, B, C, D to the upside this is not A to be equal, C to D, this is high peaks and A is the first B is the second, etc. Well, Apple was doing very nicely and then at 11.9, so that's right here at 9.33 it pops up and it goes to 183.55, that is peak D from the starting point just above the 200 period moving average and it starts to pull back and goes towards the 200 period moving average has a bounce to peak A, B, C minus because it fails and it takes it out, goes to the 200 period moving average, hugs it, tests it, breaks under, goes over, breaks under and now it's plummeting down below it I should say plummeting, but it's sliding in 182.51 Look, here's a peak D and the 5 minute chart there it is there's your down arrow, I'm just putting it in now and here's your peak D I can't put the down arrow just yet I have to wait for it to go pink with a 9 period moving average but there's a real good chance based on the MACD and stochastic this is a 10 minute chart so all of these things apply it's the same thing that we're looking at it doesn't really matter most importantly you see how the green 9 period moving average is positive positive positive still positive hasn't turned pink just yet but the 5 minute has and that just says there's a good chance that at some point in the next hour or so the 182.37 low that was made at yesterday at 3 of 5 in the afternoon 5 minutes past 3, Eastern time correct? we'll be tested I can do a left side, right side price time match to it but this is what I want to say because there's still too much to do see let me go through this now I wanted to talk about the single leg A up and that is in the down so what I did the day after the Friday low Monday did not see the VIX index stream to the upside but everything else was just perfect for a turnaround I was a little skeptical not in the sense that I didn't I said on Tuesday this is fabulous action but I had to analyze what the VIX not doing what I thought would do on the Monday whether that was the low on Friday the low or A low and I said I think it's A low for now but I love what's going on and I wanted instead of what we normally do we'd grab the Dow in a position and we still have the short position from the exact high I haven't decided yet whether I want to get out of that no need to just yet there's still a lot of a lot of evidence to be proven here to say that the degree of upside potential from here that's what I'm talking about so within that context we grabbed Microsoft at the low of Tuesday and we've run it up it's been fantastic I called it a proxy for the Dow diamonds because it was about the same price it was doing everything but it had now the S&P, the QQQ's the XLK everything that I wanted for this particular move but it was still a silly thing not to just grab the Dow at least the diamonds if not the three times long and just written it up and said okay take me where you want so in that sense I'm looking at the Dow with a single leg A to the upside now I just spoke about the rotation well the rotation says that maybe it's time now for these 7 or whatever you want to call them that have been leading the market up and really a big percentage of the key indices to take a bit of a breather at this point I'm only calling it a breather and the question came in right here about the speed with which and the upside move in the 120 minute chart yeah and now it's flattening out we start to make only slightly higher highs but we are making higher lows but now we start to store in the S and P so it's the same as the 120 minute chart peak A, peak B, peak C peak D peak E peak F this could be a G alternate count G says C so yeah but this is exactly the time that you would expect it to be so now what I'm saying is within the context of what we're looking at I'm going to show you this particular chart to show the fantastic symmetry look at this SMH this is the first time it's broken above you can't you can't make this up in fact it's to find charts like this this is a textbook chart of how when I talk about the time and I say how do markets know about diagonal moves yeah horizontal it was 20 it pulls back you know 20 is the level that it can go to and if it breaks out that's great it pulls back you say wow 20 but to say 20 19, 18, 17 how does the market know that it has this fantastic trend line that never gets pierced I don't know the way I discuss it is that this is the tide and the tide is going down and the tide this is the estimation I'm showing you had a move from 161, 17 we are still short from 159 just over 159 I'm making decisions to see whether or not we cover that we've taken quite a bit off but and we've had the SOXS at times but anyway so look at this angle blue is this degree of angle I don't know what it is let's just call it oh where is my protracted I can't find it right there I wish I had the orientation had an angle thing you just grab and you put the angle in anyway so this angle it's not 45 degrees it's about 65 degrees down then goes up at about a 45 degree angle and then it stops now it forms this inside track repellent zone but wait a minute when it comes down it does exactly the same thing this is your standard A to B equals C to D but it does it not knowing that that is a beautiful angle of descent in the tide the tide is moving down it has the exact emotional response to the upside from this low and it stores at the inside track but the tide is going down so that means your resistance level is going down and where does it goes to it goes to exactly the tide lower tide it's not going to go underneath because it's going to float and it holds it at about 136 10 and now it's gone up and right here it's in a check wave inside track now it hasn't done the one to one in the angle because it's to the right side but it has done it in a slightly steeper angle and it's gone a little bit above I'll make this darker for now just so that you can see it so yeah you're inside track so this is exactly the area that I would expect we're going to start to see whether or not the estimators are going to reverse you usually get it twice but three times one two three that's really unusual yeah three times on the downside so we'll see because if the S&P so the estimators single leg A up nope it's a single it's a B because there was a fractional high right here for peak A but it's the same principle but the stochastics at 95% that's fantastic on balances on balances overboard it could pull back we should see a pullback very soon the estimators up 182 at 153.27 and it's only in a leg B that seems to have failed because the magnitude was good because the stochastic went over into 90% area and immediately came down this is going to be very nice I think there's a change here I'll be back to the good part I'll be back I'll be back I'll be back I'll be back 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 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 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 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&P biotech three times bull and bear ETFs visit Direction Investments.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 a 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 NTSX under the symbol VGZ so as far as I'm concerned as long as the stochastic holds flak in the 90% especially the 95% area even though the unbalanced volume is a little overboard if you get a pullback so far this is really good action and the fact that on a weekly basis the week hasn't closed so still have to wait till it's closed at four o'clock but it's above the trend line the channel trend line and you've got the channel wave falling axformation in the monthly chart I think that the estimators are gearing up to get towards the all-time high of 161 there should be a pullback before that happens and it should be I wouldn't say severe but it should be a pullback towards the one 49-ish area and that's where I would do this. Meantime back at the ranch so here we are let's just go through this again so this is so far a single leg to the upside but the stochastic's fabulous unbalanced volume isn't even overboard yet 90s way above the 14 prices way above the 200 I like this very much and I think the falling axformation I'll talk about tomorrow in technical Friday is looking very good here for the Dow but if there is bad news you've got a couple of gaps and gaps mean nothing until you start to turn around and then you're facing the first gap don't even think of the second gap until you're one at a time so in this particular instance we've got so much support in the 33,800 to 33,700 area until we get there I'm not looking at this as saying now you want a short I just don't want a short as a very short term yes so okay within that context I'm done with that the QQQ just is the same thing it's gone above now you've got two areas of support you've got the former repellent zone between 370 and 368 and you've got 366 as the 366 as a 9 period exponential moving average support so that's good and you've broken above the inside track but the week is not done we're watching this closely so so far this is a very good action someone said can you just show us the Microsoft I don't want to get into that this is an incredible move 366,780 is the target and what I had when we went along here at 338 was that I wanted to break above that it did it so quickly above the left side higher than 346 this area and now you've got a cup formation I'll take time to talk about this tomorrow but this is the dreaded H pattern beautiful cup formation which says if you close above the arch high there's a good chance you're going to go to just under right on or just above the previous all-time high in this all-time high with 36678 and then you've got to be careful I'm suspecting that this leg in the monthly chart goes to 366.79 to break above it to start a new leg F-C in a monthly chart so that's great so let me just say that I think there's an opportunity here to have a bit of a rotation and you'll start to see those stocks that you've got Hammett come back not all of them are in the Dow for the Dow to hold up you'd have to have some of them in the Dow and you've got some really good leadership in the Dow now the next question came we could look at the XLE XLE is pulling back very sharply so here's the move that we would anticipate it's actually a little bit more I'll just do this now why not because so many people use the 1 to 1 now the reason I like this is it's got the channel wave inside look at this this is the falling X formation but it's also the up channel and if it takes it out at a peak B especially this is A that's B watch out because it could do in this case the 1 to 1 to the downside so enough people are looking at this and I'm going to do that there you go so look where we are I said it's a little bit more yep it's a little bit more so just keep that in mind I'm getting rid of this because once it fulfills its obligation it's kind of done now what we have to look at is where is support and support if I use the troughs I don't have a trough so the only thing I can say is that the low of this bar of July I think it is yeah July the 21st with a low of 80.92 is this symmetry I can't even draw a symmetrical thing here yeah I guess I could okay so let's just do this channel wave bar symmetry it's not a trough I'm just choosing a bar here and I'm going to go to that high right there at peak D at 93 in the 93.60s I think it's 93.60s and now we're going to do the right side well we haven't got there so this is not going to work it has to be going out a little bit further so I'm not going to use that what I am going to say I'll keep this there just for the moment you see this arch formation remember the rectangle formation within that you can get a very large arch formation if that arch formation takes out the midpoint of the rectangle be careful because if it doesn't immediately go back to the upside and takes out a left side low in this case it would be looking at longer term the low of March of 75 36 that's way down that says watch out because the next key level of support in this case I can make it even a support much higher than that look here's a channel line channel line says 81 40 let's call it 81 so it's just three and a half points if it takes out that support level for the first time in a long time it says watch out because it could test the left side low so in the energy sector the XLI the SME select energy spider fund has already done a little bit more than the one to one yes your dreaded H pattern what's that where you go from a move down there's one dreaded H right there take out the left side low and it can go one to one to the downside you do it again this is not one to one to the downside but it's a pretty steep decline and now you've got another one so this is the third one so this is just saying to me it's better to say that 85 25 the 200 pre moving average is now the strong resistance so you know that the downside let me go to the day each hour only that beautiful art formation okay now it's much clear good I'm pleased I went to the dating because that was I wasn't getting anywhere with the other so now we can do this we've got from this low right here you go across I usually like to go to a particular candle or you can go to the high in this case there's no reason why not to go to the high and that is a little doji candle at 93 point 69 on the 14th of September remember 14th of September so that's right here now I'm going to go click and all I'm doing is I'm using this is the plum line and I'm saying alright oh I had to really draw that one in from some time ago I just saw it I didn't I didn't finish it look that was the support level that I do in before oh my goodness look at this I gotta remember these things you remember what I said right here this is back I remember distinctly now I forgot all about it but now I'm going to remember it look what did I type in there unconventional chaplain wave flat base restart to the 84s and we were our up and now I can't remember exactly where I typed it in I'm not sure if we were there but we I remember it was something in the 87 area well we ran all the way to 93 point 69 and what happens we came back down and what did we go to we went to 85 point 73 not bad didn't quite yeah isn't that interesting oh 84 point 26 I knew it would take a while it took it out now you've got your second one oh I'll do a little bit more when we get back XL is going down the reality is that navigating financial markets can be risky markets can be chaotic and difficult to understand having the latest market advice can help you turn this chaos into a key for creating winning trades at TFNN we understand that it can be hard to find reliable market news that's why each of our market experts offers their very own market newsletter a must have tool for every out there 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get a little more into that tomorrow in the meantime let me just say yes I agree and that's what I'm saying that even within sectors that have been beaten down XLE they are beaten down some things are working so the way I'm looking at this there's a left side right side price time which says I'll go into this unconventional fret based tomorrow restart tomorrow if I ever remember XLE XLE Friday okay and it says that based on this technique it should be I'm not doing it for time running out of time it doesn't matter we'll finish this up so based on this technique I would say to you that from this level here that sometime this is a deadie chart sometime next week it could take a little longer but we should be testing the 80 ones 83-24 that's what I'm looking at for the XLE and then you have to assess so that's what I'm looking at for the moment but the monthly chart says it's just a rectangle trading in a trading range but that's a wide trading range right here's the other thing I wanted to mention so did I have a chance let me just do this real quickly there's always so much to do so look here's the example so it's bouncing back XLE I just wanted to tell you that going into a 3 o'clock time frame today if the Dow is only down 40 points so that's very good action if it accelerates it says tomorrow could be a very weak session have a great day safe tune from Steve Rhodes check out my opening board