 The following is a presentation of TFNN, the Tiger Technician Hour with your host Hazel Chapman. Call now toll free at 1-877-927-6648. Good morning everyone, Hazel Chapman on the Thursday the 20th of July. We're looking at the Dow up 207 and 35,269. We went to a leg D then a peak D at 34,588 on the 16th of June. Remember in the chapter we've always looking for far higher peaks before we consider that something else could happen. It could continue, it could turn around that's really important and on the 16th it turned around sharply for a thousand points and then ran up again peak A, peak B, peak C and we just in a leg D and this leg D is extended for four sessions to higher highs. Looking at the weekly chart we've gotten to an E above that neckline that we were talking about at 34,712. That's really important and I'd like to see this for about two weeks to hold above that 34,700 level. That's going to be really important because it starts to improve that monthly tremendously. In fact as we speaking the, oh the MacD is just for the month, well we still got almost two weeks to go, but for the month it has turned up for the very first time since across negative way back in about April of last year and the stochastics at 77% that's really helping. Looking at the S&P we've got the S&P right now coming back from an earlier slide is still down about 10 points at 45,56. This is a leg E and you see this little tiny doji candle right here at a potential turnaround. I'm watching this closely but here's the issue. The price is above the nine period moving average that's the green line in the daily chart on the left. The nine is above the 14. All of that's fabulous technical that's just showing internal strength. The MacD is good, the stochastics fabulous at 93%, the on balance volumes are overbored. That's the daily. The weekly going to a G slash C, MacD is good, nine over the 14. Everything else fabulous 91% in the stochastic on balance volume is very overbored. Doesn't mean to say that's my only indicator that gives one of my only indicators that gives a really good signal to say start being a little careful. Looking at the monthly chart fabulous leg C4818 was the all-time high stumped to 34.91 and here we are at 45.55. It's a long way to go to get to a new all-time high but so far all the trajectory and the MacD is good and the nine is over the 14 and the stochastics at 72% on balance volume even in the monthly chart is starting to get a little bit stretched to the upside. I want to get these done because we've got a ton of stocks to look at. QQQ, almost a dojo candle yesterday is down three and a half at 382.19. That a fantastic move, a really great percentage from the 254 low back in August, sorry October of last year to the high of just the other day of 387, 130 points. That's almost a double, that's really actually 40 something percent. Now what we're looking at is the weekly chart in that episode right side price time-match has gone nicely above and that turns that whole area of 372 to 362 that's kind of my support area that I'm looking at in July. We do see weakness in the rest of July into early August and the cup formation in the monthly chart is really strong. 408 all-time high in the 11th that's November of 2021, October of 2022, 254 that's quite a pullback. But the cup formation it's got this all in gray leg A. I say gray but actually I should I'm waiting to see if the stochastic can get from 78% into 80% and then I'm going to have to see even though it's an A it's giving a buy at this point it's got a buy signal but it's not a buy mode and that doesn't imply that implies that so far I can't say it's going to go to a leg D but it's fabulous action consider that it's gone to 387 when the all-time high was 408, 20, 30 points from the all-time high fabulous action IWM was leading the way then it suddenly stalled and then yesterday had a little doji candle at a recovery high just underneath the 190 I think it was 197 let me just check exactly what it is the high of of February of this year was 199.26 so it went yesterday to 197.66 so it's just under that that's usually it like a magnet in the cup formation so this is the area that you should start to see a little bit of stalling action but the magnies good nines over the 14 stochastic is 93% nothing technically one of the reasons why I said subscribe we're on gauge a short but we do have one particular sector that we want to do nibble at a short position we haven't got it yet because I wanted a bit of a bounce first before we got short so we'll see but everything else so far is acting extremely well I wanted to go I want to do this here gold is down six at 1974 in leg D just a fractional high above three days ago for peak C so I don't like a quick C to D and then a turnaround just barely above C that says it's it's not of I've been talking about this for a while I don't see this as a strong move to the upside I see it as a really nice counter trend bounce and so far I'm calling it about even though we're actually long ago in the goal position but the stochastic isn't 88% and that tells me that there is support I think it'd be kind of stuck in a trading band slightly higher highs slightly higher lows that's kind of the way I'm looking at it right now silver is a little different silver trading right now in a leg D finally got to that leg D it's down 10 cents at 25 28 the Mac D's go stochastic is flat at 94% on balance volumes lagging a little bit so I think this is this is much better this is a really nice pattern in silver but now I think it's getting close to it a little bit of a stalling digestive phase we're looking at let me do this quickly I want to get this done so I can do all the charts that I've got high grade copper trying to get back to the georgia period moving average at 3.5 can ever read it 3.90 training at 3.86 up 0.04 there's a trendline that I'm watching very closely in the weekly chart let me just do this if I can I can tell I'm just about to hear music okay there we go extended down it's a little slow because I'm doing this all remotely so far I don't even want to talk about it look bumping right up again the falling inflammation bumping up against resistance I wouldn't be surprised if copper in September October is actually trading in the 4.4 point 05 4.10 area that'll be really important I want to do this oh the dollar TXY here we go TXY had a little bit of a rally it's up 20 TXY 100.49 on this particular weekly chart with a lowercase h that goes to lowercase m then takes out the left side low has just two weeks in which to get above to close you can't just get it's got a close above 100 point is that 48 or 100 100 point 82 and it's trading right now at 100 point 49 you think these point 20s and point 30s no big deal in the dollar it's a big deal it really struggles you are USD here we go now you're a dollar made a peak D in the daily chart peak a leg D in the weekly chart they exceed the monthly chart USDJPY we're looking at oops here we are this is the this wheat that's wheat wheat is a very nice move stalled right at the moving average because soy beans very nice move up to the higher ranges and look at corn so the grains are moving very nicely I'll be back Baselchap and Tiger technicians out if you're looking for potential trading setups in the stock 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different indices starting off maybe with the semiconductors SMH's but the X look yes Goldman Sachs up 4.68 at 345.23 legs see in the daily chart really chart has this chamois falling axle formation resistance at about the 347 level to pierce in the weekly chart so that's good but look XLF that's the financials S&P select financials leg E right now the move is getting a little bit sorry to get a little strange but everything here is technically good the legs see in the weekly chart and rectangle formation sees a pattern that if it makes higher highs to higher lows there's a really good chance it goes close to right on just above the left side high in this case it's the high of this ugly bog the 10th of March that has a high of 3625 and a low of 32.53 before it went all the way down to the city area so that that's so far as good the weekly chart the monthly chart needs a lot of work and the the weekly chart as 33 is very good support we're also looking at KRE which is the regional banks pulling back a little bit and that's telling me and a leg D at the last peak D saw a big pullback and and that's you remember 28 bars and then 56 bars where I discussed in that particular technique that I developed called the price volume climax low that was made at 34.52 on the 4th of May and the rule of thumb is that if it closes off to 28 bars nicely above the the last candle's high bar then it can go for 56 bars to higher highs that's recovery highs and that's exactly what it's done here there's 28 so this is around about 28 it's about 56 right now so and a leg D and I think it could start to pull back a little bit it's good that the regional banks have started to move because you can't just have the money center banks moving by themselves so Bank of America is the one that we used to get under 30 this time we didn't get it under 30 Australian 31 58 right at the Georgia period moving average I'm remodeling this closely because I think it could test the 31 20 to 20 to 30.56 this area and then we'll see whether Ross got the impetus to move above the closed sharpie for three weeks out of four weeks above the rectangle high so so far it's acting quite well now here we go so ptr a I'm going backwards I'm sorry I'll get my emails in a moment I'm doing this all remotely I just yesterday when I did that it seemed to freeze my Skype so I don't want to mess around with that the ptr a is up 17 cents at 170 in a leg D it made this beautiful cup formation even dead one of those left side right side price time matches but it really soared above the left side high and that's kind of important so ptr a while I'm doing this is pro terra Inc pro terra is that positive earth or something I'm not sure what they do I'm not going to be able to do that right now so there's your left side right side price time at exact number of bars to the cup formation pulls back and then makes the exact one day early isn't that amazing what a you know a technical analysis it's just you're always surprised at the exactitude the way these patterns repeat over and over again look at that beautiful cup formation it's a w actually and it's helping the weekly chart which looks just horrible but this time it's the first time it's over the 200 period sorry the 14 period moving average since it closed above there somewhere about February of this year up in the five and a half area oops and now it's down at 1.73 having touched it being almost at one so pro terra yeah I like it and now the support is the left side lip which is right there at peak C at 1.55 and it's trading at 1.70 I believe the 1.57 to 1.53 area should be good support right here we go so all the questions came in so I'm gonna ask it earlier about I think it was a week ago I said there's a good chance that Apple even though it's starting to digest gains will eventually make that leg deep a missing leg deep for a buy mode in the chapter wave and lo and behold it went to a D yesterday at 198.23 pulling back today so that's accomplished one of the things all the technicals are really good in terms of price the nine period moving average over the 14 period moving average the casting at 80% but the MACD is weak and it's just potentially going to deflect lower I don't know but in the meantime we're looking at a new recovery high going to an all-time high so that was 194.48 at peak C where I put a question mark I said one of my favorite patterns the falling exclamation lower lows and lower highs and much lower lows when you break out to the upside you can go quite a bit higher and you look at each successively higher peak on the left to see how it can take it out or certainly took it out and it went to one what I said it was something 198.23 so that's accomplished so at this particular point now I'm not saying it will I'm just saying now Apple could be ready for the digestive phase doesn't have to but it's a quick D to E in the weekly chart and a really strong I don't know if this is a brand new A or it's a D because there was a chapter with instant restart right here in the monthly chart right there so one two three yep that was an instant restart and so often in the monthly charts this has been happening for the last two years we've seen that an instant restart eventually turns out to be needed because it becomes E slash A F slash B and G slash C and that very often goes to a D just above the previous highest 182.94 back in January of 2022 so a little cautionary moment here even though it's fantastic it's almost at all-time highs let's go to the next one Amazon Amazon question came in I'm sorry I just I haven't got the names of people but Amazon came in where do I see support in Amazon if it pulls back and that's 132.70 down 263 beta pf with a little kind of a doji little mini hammer and right there with a high of 136.65 I'm going to type that in 136.65 there and yes there we go you can go into this rectangle formation right here as support no big deal it's had a spectacular move now I can take a bit of a rest peak see probably this week if there's no new recovery high by tomorrow and very strong leg B that's Amazon where do I see resistance well resistance would be the next logical way to look at it is in the certainly the weekly chart has a left side high of 136.49 so we've just taken that out and then you can go to 130 no it's 146.57 the high of the week of the August the 19th August the 19th would have been last year so this is really good action so far next question came in Microsoft I think Microsoft's gonna have a little bit of a digestive phase right now I'll be right back as a champion. 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then hit watch tiger tv Hi folks we're back and one of the things I always talk about is there's a pattern that we look at uh usually it occurs either at 8 30 or 10 o'clock when there's some some economic news certainly earlier in the day and what happens is there's a sudden spike up and then that fails and it looks like the Eiffel Tower it goes straight I call it the Eiffel Tower with the single leg A up failure pattern that's what we got in the 10 minute chart and I'm sorry I was busy here doing doing doing the show I did not switch over to my E-mini chart which is a pity because it gave all the exact readings we always look for so let me just show you here so if you go to this look at the how you remember I talked about in the different charts we were looking at that exact price formation where I called it bar symmetry it's the exact number of bars on the left side matches no it's the number of bars on the left side exactly matches the number of bars on the right sometimes to the exact number of bars but it could be very close but look at this I'm going to that level right here so that's green on the way up and here's your midpoint we call it the plum line right here oh wait a minute I moved it I can move it to the left one bar there it is that's your plum line I don't always get the plum line in this case we did and now I can move it to the left right there and yes the right side move it to the left one there okay I said misted by two bars that was the low right there at 9 30 a.m eastern time with a low of 45 79 25 it ran up to peak e with a cup formation I would have done this live but of course I was doing the show and I only have one monitor right now usually have many monitors and look at this the price look at the MACD stochastic on balance volume look how strong they were there and look at the plum line right there look at this failing MACD failing stochastic on balance volume gave a top did a little double top there and then turned down but most importantly this is exactly what we're seeing in the Dow fabulous move up and look how many from this bar it took one two three four five six seven eight nine ten eleven twelve thirteen thirteen sessions that's 13 minutes it's a one minute bar in the e-mini before it fails now this is important and that's the reason why I've had webinars I've had if you subscribe to the opening call be able to get umpteen webinars talking about the power of the nine-period moving average over the 14 and look how long it took before it actually failed it looks very quick in the 10-minute chart but look at this now let me go to this in real time here's the Dow I'm going to skip Microsoft just for the moment because I'd like to do everything current that's the only way we can get as an educational medium at TFNN that's that's the way we do things live and look the 90 still expanding over the 14 the price is way above the stochastic the MACD is very strong stochastic fabulous at 93 percent on balance volume in this particular chart is still lagging it gives it a little bit of wiggle room when I go to the chart that I show subscribers to my opening call every day and I have a little squash you can see the on balance volume looks a little bit overboard so it just depends on how how much you expand the chart itself but in the meantime I will be all looking at is the selectivity that has been very important the rotational aspect of this particular market to have something holding up really well while other things are failing and then vice versa and the the others are overextended they take a breather and something else comes along that's what I was doing about in the financials so I wanted to show that chart show how long it could take it could take quite a while before the Dow starts to turn down that's why I'm saying the end of going into the the next couple of weeks going into maybe the start of August it's going to be so important because we are overextended in so many areas I'll just keep going look Microsoft is an example Microsoft right now had that single leg a it's not a it's actually meant to be but it could be an alternate count f slash be a 366 78 this is where it's a little difficulty in the travel way methodology to decide is this the turn it's just the turn it was just a turn most of the time the the parameters and the techniques that we use are very clear look the nine is still over the 14 at some point year and if it goes down it'll come back a balance at least into the 344 area so we're maybe five points away from getting the perfect if you were wanting to short but it's a fantastic company it's made an all-time high you've got to consider that money still going just this is profit taking but the pattern itself says this vicious move to the upside often most of the time look at the character of the stock the stock tells you this is my character and my character is to move steadily as earnings and everything are improving I'm working steadily to the upside from the 220 area I go all the way to the 360s in a very steady move the walk in the nine-period moving average in the weekly chart multi chart has gone to an alternate count E slash B don't have to talk about that yet because it's the daily count that's going to give us the the speedboat turn and this turn says that at 74% the stochastic on balance falling turning down the magdeeds weaker stronger than it strong but much weaker than it was when it made the highs back at 351.47 in June so this just says be careful because this whole containment area here looks like it's that's where it wants to go that's Microsoft next question came in could I look at Apple I just did Apple so Apple hasn't started to pull back yet yeah there it is pulling back off to the leg D yesterday so we're watching this very closely IBM I believe IBM done they come out with earnings or something there's another leg D just slightly remember the root of thumb in the upside and cup formation the gravy cup I call it a rectangle you can go just under right on just above the previous high and then you've got to monitor it closely because it could quite easily pull back and test the midpoint range of the rectangle that would be at about 135 straight right now at 138 98 up 3.50 and it's a leg B in the weekly chart we're looking at next question came in of course oh now I was going to do this yesterday talk about now I'm late because I want you to do it yesterday and it's not now it is okay so what this is very interesting it had a fabulous candle this is service now in cloud auto automated management workflows IT services etc there's your left side right side price time match to the exact bar how does that work but that's what I chose I chose to go from this candle mid candle the seventh of the week of the seventh of January of 2022 in the 600 area I chose these candles right here as the highs which is 601 603 sorry 601 three yeah there it is so it's around about the 600 area and I put this in as a midpoint this is the full chrome this is the right here this is the above line look at this you just made it in that cluster of resistance level there so when you're looking at all of these stocks we are ready for some kind of a digestive phase but we'll see if we swing over to the financials I'll be back in a moment 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 news letter now at tfnn.com are you ready 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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 i run for fact so uh the other one is rublax rublax is uh in the uh this is the gaming area it's just made a leg d and today it's got a peak d because it's dropped sharply at 250 look how many peak d's we have here so this just says be a little careful here i'm not set to subscribe you're not adding anything right now we were looking to try to get a short position one short position i gotta be really careful that at this particular point and i'm not being selectively i'm not looking at this as if it's a general market you know some areas that actually start to see some buying and that's really important so rublax has a 40.50 as a 200 period expansion moving average is trading at 4232 right now just a little digestive phase the monthly looks terrible weekly is improving quite a little bit um arkk i think this is also ready for a bit of a digestive phase let's see where we are we had a doji candle g slash c yesterday um there's two doji silent doji plus a doji yesterday that just says to me hey be careful all the technicals are all like the others the nine over the 14 the mac d the stochastic at 87 percent nothing there says well go short everything i'm just saying be careful right here maybe options the best way to play this put options if you want to do anything on the short all the technicals are good i just think it's a little bit of a digestive phase off the spectacular move up uh what was the other oh Shopify shop is looking at this right now where are we peak d yes another peak d pulling back a little bit nothing uh nothing negative in the chart other than to say the pattern has gone above a trend line a trend line that was resistance that became support just for a couple of days and now it's back to resistance this just says to me that at 66 63 down to $62 a very quick d to e to f in the weekly chart just says to me be a little careful i think it's starting to really repair a tremendous amount of damage going from 176 in November actually it was like 3000 what it was up in the just huge numbers and then it got split 10 for a while something crazy like that dropped all the way to the 20s 23 we had it actually for a very brief period don't have it now unfortunately but it's done well and i think it just needs a little digestive sideways action more than anything else ddd is 3d systems one that we really we had fantastic games once upon a time with this haven't been back in ages yep it made a gcc i just didn't like the pattern i wanted it the other day it would have been a very nice quick mover going from the 9s to the 11s that's a big percentage game i didn't feel i could trust it thank goodness look at it down today 4% down 0.42 42 cents at 934 it's it's really struggling so i've gone through a bunch of things now i i didn't want to show you the dba which is something we've had for a couple of years now someone asked me the other day um do you have just short-term trading positions you're often talking about that no we have positions that we hold for a long time as long as we can we add to them if it's a good stock and we've taken off some we'd like to get back into it this is the dba we've got it from the 13s it did 23 once upon a time pullback sharply into the 18s now it's a 22 double topping ish uh 2240 was the high today 2213 was the high um from uh about three weeks ago and this now i have no choice but to say because it never took out the starting position uh from the 20 low from the 20 area this gets an alternate count it's always audience you've done your left side price time uh match look look at that i'll put that in there from that little candle right there from the left side to the right side did it to the day now the very quick d to leg e and not very much higher than d and e says oh yeah that's the grains the grains are acting very well maybe now they have a little bit of a pullback so that's the db agricultural fund um uh we haven't had an extra trade in it for a while but i'm looking at it i'm this is going to the inflationary aspect so if the grains continue to rally and just let me do this for a moment yes wheat does wheat obviously that it's the ninth period moving a 200 period moving average back at peak e in june and pulls back sharply from the 7 7 60s down to the 6 uh 6 17 ish area bounces now very quickly and that i've got as a great leg b because the mac d has crossed positive the nine just turned up and the stochastic though is still weak so i haven't got a full confirmation of a buy signal but this is still that cup formation and the cup formation says you can go to the back to the top and that's where you've got to watch out because when it gets just under right on just above the previous high that's when it can start to stall so it has improved a lot in the daily the weekly the monthly still looks very poor looking at corn now i'm looking at soybeans this is a soybean continuous contract i've got this as a leg e possibly peak e all the technicals the good stochastics at 89 percent the monthly chart sorry the weekly this changes it gets smoothed out so the letters you see here are absolutely perfect for the price but it's not automated i do it by hand so it's a little the two inches above where there should be but yeah you've got leg b in the weekly charts the soybean acting very nicely new recovery high in the monthly chart and if you're looking at corn and i'm just saying there's a chance that the inflation isn't quite going to go away that there's still some inflation there we have seen a decrease certainly with crude oil coming down etc but and the grains you've had grains holding very nicely the weekly the weekly chart has got a good move it really needs to get from the five thirty seven level that's at right now into the five seventy eight to five eighty six areas to say hey now i can at least attempt to get to the six or eight continuous contract high that was made back in june but in the meantime it is acting quite nicely but it's in a rectangle formation let me drop this rectangle i drawn it before but it's moved there it is there's a rectangle formation so i just wanted to show you they also have sugar sugar is trading opposite leg d a very quick peak a peak b peak c leg d and the monthly chart peak c 1 c 2 c 3 it should see a move sugar should see move towards 20 25 80 26 30 area over the coming three to five weeks that's the way i'm looking at it right now but if that's going to do that 23 is really important shorter term support that it needs to hold okay i don't i'm not sure i'm going to try to see if i i did not i'll do it in the next as we come out of the next break i'll go to my emails i didn't want to do that now just in case it messes up something everything's working okay right now don't want to jinx it so ng's natural gas oops natural gas put in over here so for us for subscribers to the opening call we're looking we got some really good positions and now we've taken profit nice profits and some of them um still keeping core positions and we want to add to those because they are in the area the sweet spot area but at the same time there are areas that we missed stocks that we missed even Bank of America that i missed i could have gotten many times i needed to see some proof for the pudding that it's got sustainability i don't want just a quick pop up but we'll look at certain stocks over the coming week and really have a good opportunities coming natural gas this is a nice move now turn into a cup and ladle not one of my favorite patterns but it could give you another retest i think natural gas is starting to prove i think within another four weeks we might see natural gas doing something very different rather than just the sideways i'll be back tfnn has just launched their new trading 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watch tiger tv that's tfnn.com then hit watch tiger tv but i just needed to know uh where we are yeah so let me do this we're looking at the so i want you to do this quickly just to show you within the context of where we are in the s&p we're now down 15 uh it feels like oh my god now we're pulling back we're pulling back if you look at the technicals you can't get too excited here you could if you want to do if anybody started a maybe a very short term short position perfect because you know exactly where you want to cover but even covering says it could only make a fraction you might make a fraction on your high and then start down again but this is the area where i'm looking at the doji candle saying at 45 78.43 yesterday a penny above that says uh uh be careful because all the technicals are good you get these waves of buying coming in you get the waves of selling coming in but the buyers are really overpowering the the seller so i'm going to make this very clear as far as i'm concerned dow is still showing strength i would not be surprised if it starts to slide a little bit towards the close but you've got this divergence and you got the divergence which says dow is doing well because of a couple of stocks the clue for me is that the semiconductors are now deeper now they're down four at 154.42 i believe that that's a signal to say we've started some kind of a digestive phase and we'll see maybe the XLF does not support over the next few days but i think that this is going to be the area where some money starts to come in so we've got this fluctuation between uh what has been really working well very strongly i mean look at the IAI which is the iShares broker dealer index made a peak C maybe there's no new high today we're going to have just a fractional new high then i think it too starts a digestive phase you've had a fabulous move in the brokers and that says the public is back in the market that's the way i'm reading this for a while now that it just seems to me you've got stocks like a Schwab being absolutely fabulous so i'm not sure if i've got the uh music