 The following is a presentation of TFNN, the Tiger Technician Hour with your host, Hazel Chapman. Call now. Call free at 1-877-927-6648. Good morning, everyone. This is the Tiger Technicians Hour on this Wednesday, the 18th of October. Wow, we're into the second part of the month. In a quick month, Dow's down 105 at 30,890. Now, let me just explain a couple of things. So, in this chart on the left, that's the daily chart. Here's the weekly chart. Here's the monthly chart. This chart on the left shows you that there's an arch formation. If you follow the trajectory, if you follow the visuals of this MACD, the moving average convergence, look at this pattern right here in the Dow itself. Look at the red line, and that just shows you the red and green lines. Let's show you how the pattern mimics. If you're looking at this slow stochastic at the bottom here, it's the same thing. It mimics the pattern. But wait a minute. This low that was made here in August and this low that's being made here in October, the price is way lower, but you don't see that in the stochastic. Why? Because it's a boundary between 100% and 0%. If you look at this pink, nine-period exponential moving average, the pink means that the nine crossed the 14, and it went negative, and it's been negative for some time since the middle of September, and just yesterday turned green, and today it's still green, and Dow's down 79. So what I'm looking at here is the chance that this arch formation, which very often fails at a peak A or a B, that's the first or second peak, alphabetized them A, B, C, D on the way up, A, B, C, D on the way down. Each higher high gets this new letter, but in actual fact, this B is just about to give a confirmation either of a pink when it turns down again or a continuation of the arch formation. Remember, this is what we're always looking at, the pattern I've always talked about, the lower case, H comes straight down, rallies and then rolls over, but in this particular case, I would say to you that Dow's holding pretty well. So within that context, this is the daily chart. The weekly chart is still pink, in other words, the nine-period moving average is still negative, monthly chart is still green, and those are the three big time frames that we're looking at. So in the daily chart, if the Dow starts to drop below 32,600, that's it, just be really careful because this is that pattern that says a rolling over could give you the pattern that I call the dreaded edge because it goes and retests the bottom, which would be a 32,846. At this particular point, this 200-period moving average or right here, I've just highlighted, you see the dust, this is the line right here. It's holding very nicely, but it's also a magnet line. And one, two, three, four, five, six is the seventh session in a row where this 200-period moving average has been touched either on the way up or the way down. So this makes it really important. I want you to go through that right now just to say that even though with all the negatives that we are hearing about, and the other thing was yesterday, downgrading of the semiconductor's particular stocks like Nvidia, the semiconductor is actually holding very well. Let me just give you the overall picture that I have for subscribers to the opening call. Using technical analysis on the 1st of August at 35,679, we've been short within the context of having much longer term longs. That's from October of, that's from March of 2020 and the exact day of the low on October in 2022. So this is a, in the shorter term, this is a trajectory that could be anticipating. We're still holding that short. But at the same time, we've got aggressively long, a very small position. We've taken some profits just the day before the low of 32,846 because the over-sale conditions say that we should have a running. My anticipation is that we are still going to do some testing of the lower range and that's just to make it as simple as possible. And that makes today and the next day and today and tomorrow, I'd say even going into Friday, really important because as I say, closing below 33,600, 33,500 support says, yeah, probably we're on our way down now rather than holding up quite well. Let me just quickly go through this and then I'll do all these different things and then I've got questions that I said I would answer today from Tiger Listness. The SAP is down 23 at 4350. Once again, all the activity has been above the 14 and nine period moving averages for the last week or so. And that's good, but you have got an S meaning that the S&P weekly chart has gone to a sell signal based on the nine period moving average under the 14 period moving average. Not a sell mode, just a sell signal at this point. Monthly chart is still holding well. QQQ, that's the index 100 trading. Now I should mention that we do have an aggressively long position. Nice gains, short term gains. Just as we did with the aggressive long UDOW, the Dow. But in this particular instance, I'm anticipating this is going to get stopped out much sooner. But QQ is down 1892 at 366.27. And yet the technicals are still holding pretty well. The MACD is good. Stochastic went under 80% to gain. And then I've been moving average, as I say, is above the 14. And the on balance volume is at 70% under the 80%. So we don't have, and this downtrend, you see these two lines are called the inside track repellent line because they keep repelling the price. Got repelled again. So the weekly chart is still pretty good. The daily chart is okay, but I'm watching it very closely. This is go to the IWM, which is the Russell 2000 small caps. Just struggling these small caps. At some point, I'm sure you'll get a good rally, but it just hasn't happened yet. Now let's also look at the SMHs, which is a semi. So my rule of thumb is wherever the semis go, the market usually follows. In this particular case, it's been in the downtrend, the down channel, actually a perfect down channel. And it's pulling back is down 2.80 right now at 145.52. Not yet breaking down in the nine period moving average is still positive. But that weekly chart, remember, I spoke about this a while back and I said, I'm anticipating that this green nine period moving average is going to turn pink. And that the semiconductors as a kind of a heads up, going to tell us about the general market. And that's why overall, I'm still looking at a kind of a bearish scenario, very short-term oversold conditions being worked off. But wait a minute, you've got gold. Gold, the harbinger of fear is trading up 33 at 1969. It's a good year. And here we are on the weekly chart, which is looking very, very poor. In fact, if it wasn't for this outbreak of war in the Middle East, I think gold would have been on its way down much lower. Here it is running very strongly. It's up 33 at 1968 above the 200-period moving average, which was fabulous resistance. I mean, you could use that as a benchmark for a reversal to the downside. Now it's breaking decisively today to the upside. And that means that this level of, let me just check. Nineteen to three. Okay. We've got a break coming up. We've got businesses coming up about certain stocks containing gold, swabs, protocols. It's about the future. We'll have a tight conditions hour. We'll be down. Check it out, right? Here. If you're looking for potential trading setups in the stock market, then Rocket Equities & Options Report is a newsletter you should try. 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I broke through back and because I was about to just finish up and come up with the initiative and the commodity, let me just do that now and then I'll go to those questions. So natural gas, natural gas at NG is the continuous contract price. Let me just show you this right now. At NG, there it is, is up .01 at 3.09. The weekly chart tried to get out. I said I want to see a decent close in the 350s and went to just over 340 and just pull back and it's kind of back in the rectangle right now. And I've been anticipating that somewhere in the October period, not sure just when, there should be a rally that holds to the upside. We haven't got that yet, but I had a question and this is very interesting. So this applies of course to UNG. UNG is the same pattern because it's the United States natural gas fund stuck in that rectangle formation. But then I had a question by one of our tigers a moment ago about FCG. FCG is the first trust national gas ETF. And I'm looking at this and I'm saying, all right, let's just see what's going on. Yeah, first of all, I didn't know what FCG. I should have remembered I looked at it many weeks ago and then I completely forgot about it. Well, it's trading at 27.39 of 22 cents. This looks like a gold chart actually. Am I correct in saying FCG is first trust natural gas? Yep, it is. I don't know why it's different, but this is very positive. The question is, should I add to it? And my answer is, even though it's spiraled to the upside from under 24 from the 23 to 27, that's a four point gain. That's about, what, 17% just in no time at all. I'm going to say, because you've already got it and you're talking about adding to it. I'd say yes, in a split position. You can add right here at 27.41 and then you can add it about 26.81. And on the whole thing, I'd have probably about a 26 stop on this particular position because it'll be a smaller position since you're adding to it. So yes, normally I would not be doing this at a high, certainly a multi month. It's almost a yearly high over a year ago. It was higher than that. It was up in the 30s. So I'm going to say yes, because this is acting extremely well just based on the chart. So that was the question. The next question came in, which I was going to do as a sequence to looking at the commodities. I did that during the update at 10 o'clock for the Tiger Financial News Network, market update. And now you've got the TLT down 75. That's at 84.45. If you look at the TBT, it's still, it's just barely, let me just check. It's just a tad under the previous high. And I'm anticipating based on the monthly chart, the weekly chart. This is GSAT C. And there was an instant restart. I remember that's a technique I called chat. We've instant restart with the three bars. After a peak D, you go to leg E and then you can you can call it. Oh, I've got that in there. So this is an instant restart there that peak D. You can see if I move the rectangle away. There it is. Right there. So I'm going to put it in so you can see where it is and how it fits. There it is. Oh, it's already there about three times because there are a couple of rectangles. We can do this one right here. Go on. Okay. So there you can see it. So that says this is an alternate country. I'm anticipating that it goes to a leg D and that'll be over the daily. DBT is the ultra short even 20 year treasury bond ETF. And 4331 was the high of the 6th of October. The height today is 42.95. I think it's going to go those extra pennies and go to a leg F. Then we're going to have to monitor it and see exactly what's happened. F in the daily and D in the weekly chart, leg E in the month. Look at that breakout. Let me show you the chart here on the longer term scale. So you've got the monthly chart. We were once up here. I mean, I don't think this goes back far enough. No, it doesn't. It goes up into the almost 300 area. And here we are at 42. So all I can say is that yields are starting to move aggressively higher. And they're above the support of 39.22, which is for a long term resistance level. Just we've got to be real careful here. So within that context of the TLT, the question was on the TLT and the TLT is pulled back in the pattern that I was talking about just a moment ago. I can't go to it right now. Just got too many things going on in this laptop that I'm using remotely to my desktop back in my office. Okay. So the TLT 84, 89 was the low about nine bars ago. It's nine days ago, nine sessions ago. And I think it's going to just nick it to the downside. And that's going to be really important because all the techniques, the nine is, look at that pink. Nine people moving under the 14. It's going to take a tremendous amount to get it green again. You'd probably have to see the TLT, the Lehman iShare 20 Treasury Bond ETF trading in the 8892. I'd say almost 90 before it returned green again. That's a big ask, especially in this environment. And as you've seen over the last week or so, anything that has to do with inflation seems to still be bubbling up there. So we've got to be very careful. Although look at this DBA. Oh, so the question the TLT is, yes, I think we're very, we're very close to a big test of support. But you have to have patience because so for the momentum is so strong that to change the trajectory to the upside is going to take quite a lot. And if you're looking at the DBA, which is the DBA Agricultural Fund, I should say this subscribes along in the 13th. It's already been up in the 23s pulled back. And I said, we're not going to do anything because it's just stuck in a range between 21 and 22. I don't know if it's really worth actually trading that. But here it is at 21.93 actually acting well after the grains corn wheat soybean. They were very weak actually. Let me just show you this here. Look wheat is just coming off a bottom. It's not a big deal in terms of chart. It's gone through a peak C, but it's really a very anemic. If you're looking at soybean, soybeans are much better move, but it's still not very strong. Stopped at the 50 period moving average in leg B at 1300 and a quarter up three and a half today. If you're looking at corn, corn is that was the one that was acting tried to act much better. Couldn't do it. There it is corn. Got it. Okay. That's that's really going to peak C1 C2. This is acting way better than others. And especially if you're looking at the monthly chart with this arch formation holding the base of support. So that corn is the better one. So that's DB agriculture. I'm just mentioning this because this is part of inflation. So now the question came in AVGA AVGO. That is a virtue which became was taken over by Broadcom, but they kept the symbol. I don't know why they kept the symbol. BRCM is a much easier symbol to remember when the title is called Broadcom Inc. Anyway, the question is I'm in it. I can't remember offhand if it was at 840 or 820. I think it's in the trading range right now. And it's one of the better semis. I think it's actually a good thing to look at. So let's just go to that as soon as I return. Be back in a moment. Right? No. Educating investors. 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 Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. 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The guy's bought this 200-period moving average with the one-minute speed mini chart. Isn't that amazing? It's like a sign where he goes above it, below it, above it, below it, below it. And then went above it just a short while ago at 10.15 to 10.20. Screams up to the 43.90s and yeah it is. So 20 points up and 20 points down and this is the midpoint right here. And now I should try to find some support in the 43.73 area. But the speed with which it just came down picks to me like some bad news is going on there. Suddenly came out. We'll see what happens here. Oh, isn't this Wednesday? Yeah, isn't Wednesday when some kind of crude oil or some kind of report comes out. Anyway, we're looking at the Dow down 142. So you remember the SMHs, Broadcom is part of the SMHs. That's a Vagio, some AVGO. I should just for clarification purposes. 161.17 was the all-time high on the 31st of July. We're in just less than two points above the November of 2021, high of 159.42 down to 83. This is the back in July of last year, July, August or so. And then it turns up, it was at October and then it turns up and goes from 83 to 150, 161.17. And we are the subscribers from opening call. We are short the semis from just over 159. Still remaining short. We're going to try to keep this as long as possible. We have had some trading positions in the SOXS, which is three times short. We went short at the same time, took lots of profits. And now we haven't done anything with it because it's just been in this down channel to the inside track repellent zone. And now the nine-period moving average is still holding well. Now let's put that together with AVGO. AVGO, here we go. I always have to remember what the symbol is. I always remember symbols very well, but Broadcom was easy BRCM. Now Broadcom is the owner of Vagio. It's been quite a while. Look at this rectangle formation. So the question is, I'm long, Mike said, and I can't remember if he wanted to add to it. And I'm going to say, you're all long in a position. Well, maybe that was your add-on position. I wouldn't do anything right now. I'm impressed that it's up 2.22 at 886.62. This is one of the better chart patterns. But the result of a long rectangle that sorts off as a wide and then goes narrow because it goes so long, is that at some point it's going to take out the base of support, which is 800. So it's this particular point as a trading position. If the market wasn't as weak as it is just today, I would say to you, I'd probably add another little position because I think it's going to try for the 896 to 905 area. But because of the situation as we see it right now, it's been the strength that it has even today. Even yesterday with a big, sharp pullback and closing towards the high with a long-legged doji candle, I'm just going to say hold off. And on this position that you just got in now, 868 is the 14-period exponential moving average support. The 9-period moving average is at 876. Today's low is at 876. It used it as a springboard. But the days here, if the market continues lower, I think it's going to drag this one lower. Let's wait another day or two. In fact, I'll put it in today's Wednesday. I'll put it in for either Thursday or Friday and we'll have a look at it again. I'm going to say just do nothing as it stands right now. If it wasn't market conditions, I would say this is one of those that wants to need the market higher. It can't do that right now because it's stuck in a range. It has made a leg D in the rectangle formation of the weekly chart. And this monthly chart is making a sideways consolidation. All the technicals in the monthly chart are very strong. That's your leading indicator because this is your larger context of the tide. Short-term tide says it's getting a little whoopie, but it's holding very nicely. And the daily said how it handles this new high. Oh, I needed to look at this. I wanted to put this into a longer term. Yes. So because that was the starting point of your first peak ABCDEF, this could even be an alternate count. Gee, because it never took it out. I'm going to make this just for the moment, an alternate count. Just all based on not breaking any rules in the traveling methodology. I'm just saying this is an alternate count. And I'd like to see that because as I recall, the cup formations were making slightly higher highs and slightly low lows. And that just says that at some point, the momentum, the trajectory to the upside is going to run out. If the stochastic, which is now 72% continues lower. Because remember, I like to say that all the textbooks suggest that over 80% is overbought. Overbought means that it's stretched. It's too far stretched. And I said, no, no. If you're a bullish, you want to see an 80% and higher on balance. So stochastic, slow stochastic. So this is just me considering that the stochastic in the daily chart is pulled back. The prices held very well. And the 9p moving average is over the 14. So OK, as it stands right now, I'm just saying to you, I would do nothing. It's holding very well considering what's going on. When I started off, it was up 2.22. It's now a 0.45. What is the Dow doing? INDU. Must have pulled back even more. And I've typed in the wrong place. I'll type it in here. There we go. INDU. Yeah, now down 163. And as I say, this is the moment that I said, just subscribe to the moment and call caution prevails. Why? Because this is at peak A or B. Watch closely because this is where you can start to see the roll over in the H pattern. Most importantly, the 90 is still very positive. 90 is positive, not very positive, but the MacD is positive and the stochastic is still at 82%. So that's holding very well in the Dow. Let's go back to the next question here, which is Schwab. So Schwab had good earnings, or at least part of the earnings were very good. And I had a question about Schwab, and the question was, is it time to have... We followed Schwab for a long time. Is it time to do anything? And I'm going to say, yes, it is. It is time to continue doing nothing because Schwab is down to $1.65 at 52.06. And when I did my work last night, I was looking at the IAI, which is the I... We're still long from 45 back in 2020, and it's trading at 90.2, it's already been to 116. So we're just holding this. This is the I shares broker dealer and security. It had a pretty good move yesterday, but really not the kind of move that I would have anticipated. And today it's down to $1.21 at 90.20. And why is it just showing this? Oh, it's just kind of static. But IBKR, which is the one that I use as a benchmark, IBK... Oops, IBKR is the... There we go. IBKR. And that is trading at 82.74 down to 370. Interactive broker. How come it gap down? I'm not sure why it gap down, but it did gap down. And that's just not a good sign. So I think stay away from swap right now and interactive broker to show you the cost to get back. Did that, did that, did that? And I did that, yes. I'll be right back. 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. 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Directions Daily, S&P, Biotech Three Times, Bull and Bear ETFs. Visit DirectionInvestments.com slash Biotech today. An investor should consider the investment objectives, risks, charges, and expenses of the Direction Shares carefully before investing. The Perspectus and Summary Perspectus contain this and other information about Direction Shares. To obtain a Perspectus or Summary Perspectus, please contact Direction Shares at 866-4767523. The Perspectus or Summary Perspectus 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 Vistagold. Traded on the NYSE American and TSX under the symbol VGZ. So in fact, and if you look at the 10-minute charge of the E-mini, look at the 200-page moving average. Look at the way it curls around like a sine wave over and under, over and under, over and under. And then what happens is, besides being a 618 retracement to the upside, that coincides exactly with the 200-page moving average on that single leg A-up. You'll see it better if I squeeze this. I wanted to show you the longer term of the 10-minute charge. Look at this. It goes straight to the line and comes right back down. That's called the Eiffel Tower. Straight up, straight down. And it looks like an uppercase A, and it is actually called an A, but it's an A-minus because it failed. And what do we have now? We're having the S&P down 31.5 in the E-mini. And right here at the 43.67, I think it is, 43.67 area, this is exactly where I would anticipate based on just the visual one-to-one trajectory from that line to the 9-page moving average and down again, this is exactly where there should be some attempt at a basing of support. But it's really important to see at the, I think between quarter to 1 and 1.30 this afternoon it's going to be the big, if there's no decent rally to the upside to get off the low, it might close at the low of the day. Now the question came in about FLR, this is FLIR, FLIR is in the, oops, there it is, trading at 36.17 down $1.41, FLIR Corporation Energy Services, Carbon, Capture, LNG, Green Chemicals, etc. Lovely monthly chart, little V-shaped pattern there. And the weekly chart did the same thing, went to a P&D organization. Now what we're looking at is the daily chart from the P&D I didn't put in, I have a chance, didn't even look at it, has a cell signal which was about to go to a cell mode when it suddenly popped up. So the question is what about FLIR? And I would say this is in an area that right now should be doing very nicely and it is. How it handles the monthly chart is going to be very important because 33 is the support level of the 9-period moving average, at 36.11 right now. If a source to go under that it says decisively that you've got a rectangle formation with another U pattern possibly forming, this is the first one right here, look there's your U and that month did finish last month, September so I can put that in as a U and I'm thinking there's a chance that maybe one like this I'll keep this in here something like that because it's held well it's an area that if there is any activity at all certainly in the area with carbon, LNG green chemicals it should hold very nicely in this particular time frame but here's your H pattern at a peak A peak B so once again I'm saying just like in the Dow and the, was it the S&P no, the Dow and the QQQ leg B's and the S&P I think went to a leg C in the Dady this is one we've got a monitor of why stochastic is only at 68%, MACD is negative 9-period moving average is positive but it's turning down, if it turns pink it'll do that 35-30 so I'm just watching it so the question is, what would I do on a shorter term position if you are long and you've had pretty good gains I definitely take something for money management, I take a little bit off right now if you just got in I wouldn't risk anything because if it takes out the low of 4 days ago and that was the low of what is that, 35.55 there's a good chance it's going to make the H pattern and go all the way down to the methodic force so I'd just be real careful on the shorter term position if you're long term long that's different altogether next question that came in is if I can find it, yes could I look at BTC this is the futures the Bitcoin futures continuous contract for a while now actually ever since we were long and had fabulous gains the GBTC, that's the Bitcoin fund, now we're out of it we haven't, we tried once or twice to get back in for short term trades, just didn't work out and I said we're stepping aside, we're done later in the year meaning 2023 I think there's going to be a really good chance that it has a much stronger rally but I have to wait so look what happened, it had the spectacular Chapmanway of Roman inverted Roman candle, green one three sessions ago 27 no, it's 26-24 is that the day? No, it hit 27-14 and it ran the same session ran up to 30.36 and then it closed just below the halfway point of this entire can with a very long legged wick by rule of thumb is within two to three sessions at any point for a shorter time frame meaning on a day this is a daily chart, so on a 120-minute chart I'd say if 90 minutes it traded above 29.50 there's a really good chance that it would test the high that was made in the 30 area but if it takes out the low at any point, be very careful but in fact all it's done is it's stayed in this range and it's down 310 at 28,310 right now at BTC is a symbol continuous contract the 200-period moving average has been the sine wave up and down and up and down and went there that one day three days ago and then it's now back under it that's your big resistance $29 is your big resistance so the question is what should I do and the answer is nothing probably I would say more likely short but it's just not worth it because it moves so quickly and I don't think it's worth it I'd rather just step aside have patience I think there's going to be a move in this at some point but when it's going to be it's very difficult to decipher time cycle said maybe by the end of October early November but that's just a visual time cycle I haven't done any measured move I'm just saying hold off on Bitcoin just to name in is just find it could you just look at the GDX again like you've done every day GDX GDX is now red it's down 11 cents 29.43 why the only reason I can think of is this 200-period moving average is resistance let me see what gold is doing right now where does it pull back to within a point of the there's 1959-1958 is the 200-period exponential moving average that's how important these things are you think that it's just that's the market doesn't know the market doesn't have to know but this is a look back period 200 bars in this case 200 days and it becomes very important because it's like it's like an internal measurement that says this is this is my the benchmark for breaking to the upside and it's going to be that way and it stays that way for a while you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on a 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 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 and your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and 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of tfnn.com Don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch Tiger TV that's tfnn.com then hit watch Tiger TV I've always been thankful that you have final segment but let me just give this the doubt now I'm almost 200 this isn't the reason why I did the subscribers to the opening call just be real careful today even though we're longer I'm prepared to get stocked out of these these trading long positions because they'd be nice profits I'm not prepared to mess around you want to see the stochastic say 80% that's a good sign in the daily chart of the doubt this becomes the roll over and if we start to push underneath 33,600 even that 500 level that's that's going to be important because it means that you're now in the momentum to the downsides just be real careful here you'll see the same thing in the S&P the S&P made a leg B yesterday to extend it up and let me just go through this sbx.x there it is now it's down 37 still the green and I'm moving averages green but I'm just watching this very closely to say if ever this is going to be the moment to start back to the upside it does by 1 o'clock 130 the Dow better be just only minus 50 or minus 80 that'll be way better and the S&P should be down only minus 20 maybe minus 18 and then we can see some kind of rally into the close I don't know why there would be a rally into the close in this particular instance that's it and the VIX index the volatility index here we go trading at 1834 at any point this week if the Dow is down sharply triple digits the S&P is down 60 or more and the VIX index is trading above 2150 be very careful and here it is up $1.44 at 1932 just a portion to watch for right this particular moment and if we can survive the day quite nicely that's a good sign but just be really careful have a wonderful rest of the day stay tuned for Steve Rose and all the great programming here see you for then and I hope you called the interview better ask 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