 the power trading hour with your host David White call now toll free at 1-877-927-6648 or internationally at 727-873-7618 now David White and welcome all to another excellent edition of the power trading hour we've certainly got a big day on our hands question is whether or not volume will come in I think there are certain sec sectors that it will it is Friday so you have lighter volume we're doing about 6.5 billion shares on the CBOE consolidated tape so yeah there's not a real clear volume picture here either up or down over the last 20 days or so as we've gone down and retested the 60 excuse me the 36 36 area and kind of doing that yet again today but is the volume blowout it certainly isn't for when I use the CBOE volume and if anybody wants a copy of that I'll be glad to send them the link I've looked high and low for volume and you know there's ways to skew it this way there's not a lot of ways to skew it you may have to do a little bit of research to understand what you're looking at but it is every share no matter where it's traded so we've got that and of course could we have a lot of volume at the end of the day well you almost always do while they're supposed to report dark pool trading within five minutes of the trade it's more of a I'm gonna say it's more of a suggestion than an actual rule more like a guideline the code is more what you're called guidelines the natural rules yeah kind of like that as always we come to you at the appointed time the following takes place between 2 p.m. and 3 p.m. and what else do we have that's kind of it well we're off a hundred almost a hundred points let me update this just to make sure quick these are moving we're off 97 points on the S&P cash dows down no let's call it 590 Nasdaq's off almost 400 Russell's off 46 but again maybe we get the volume at the end of the day I don't see anything that blows us through 18 billion shares which is where I've been marking that 36 36 level on the S&P cash and it's a is the Nasdaq certainly weaker well certainly today it is but I think yeah we got a little bit all that now the question is did they just run this why the Chinese were off on vacation for a week or are we gonna come back and find that this is a retest of the low that we had yet again before now and we're just bouncing around in this trading range and having a kind of manic depressive cycle in the market the first question do I have anything yeah I've got two long positions and both of them both of them are up on the day not much but they're up on the day if you're in the right sector you can do okay if you're not you probably want to be day trading and by day trading I mean not taking anything home at night and maybe trading a little bit pre-market and getting out before the end of the day because it doesn't take much to flip this market from being a huge squeeze fest for the short sellers and of course a huge down day for those that are bullish so when I look at it you know I was I was almost thinking about finding some long positions last night I was looking at the put call ratio in the newsletter today I kind of pointed it out and the trend but the I tend to use the trend on the AmEx since it's only about 250 stocks and most of those are ETFs and most of those are unleveraged and most all of those are positive the newer stocks tend to trade on other exchanges but Arca AmEx there are not that many stocks in it but certainly they are all in that vein and since the retail trader is one at app to go to it I guess I probably ought to bring that up and show it do I have it here I would assume I've got it right here so let's go to that part here I highlighted them yeah 42 has been kind of high on the in the money put calls but normally what you want to be if you're bullish it is something approaching 50 on the put call ratio in the VIX now the VIX put call ratio is just the premiums on the out-of-the-money puts and calls the equities are all of them generally you will see most retail traders trade in the money puts and calls the pros tend to be a lot of times on the VIX because they're hedging positions so they're willing to take some small losses but their hedges will be on those big moves and unfortunately or fortunately when they don't or won't buy the put calls or won't buy puts to the downside as I said many times on the show that's when you tend to see huge gaps down does it happen all the time no but it's enough to tell me that maybe there's a hurricane in the Gulf it's not gonna tell me that it's gonna hit my house but you want to be wary you want to start looking out when you get those very low put call ratios in the VIX which means that people just aren't thinking the market can move a lot generally when everybody doesn't think that the market can move a lot the market moves a lot it just seems like as many people say when everybody expects one thing it just does not happen something else does so as I said on that also looking at the volume so we can get a clear view on that I always put in every newsletter a tabulated version of the CBOE volume mostly because volume depending on where you can get it can be very different and you really got to know if you're using price and volume what you're looking at are you just looking at the shares traded on the NYSE are you looking at all the shares traded everywhere I'm a fan of what's have everything some people it I guess because it's easier and it comes in their feed we'll look at just shares traded across the New York Stock Exchange it's a pretty good sample but a lot of times when they're close that's not good enough but anyway just to show you how close we had on the last couple of days yesterday we had basically 10.5 billion the day before 10.75 billion yesterday on the pushes higher we both had higher volume we had 12.6 billion shares on the first on the second push up and a 11.7 billion shares on the one before that 12.7 going back to last Friday so if you know generally you'll get three four five billion share move out of that kind of area and that gives you the signal we just haven't had a really clear signal on the broad indexes so far we'll be back after this inflation we are purchasing powers eroded there's no better place to protect your harder and money than ain't gold this the gold flagship asset is the Monk Todd Gold project in the northern territory of Australia this is Australia's largest undeveloped gold project we are talking a world-class gold project in a tier one mining district this is a large scale low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction this the gold just completed the Monk Todd feasibility study which resulted in a seven million ounce gold reserve in a 16-year mine life all of this combined with the approvals of all major operational as well as environmental permits this this thing which is Mount Todd is an attractive diverse pot ready development stage gold 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you looking for a way to consistently add winning trades to your portfolio Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded tfnn over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of Tom's advanced technical analysis in our gear to deliver comprehensive strategies for a successful portfolio get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at tfnn.com tfnn educating investors toll free at 1-877-927-6648 internationally at 727-873-7618 question about the Bloomberg thing that I watched for a few minutes at 3 a.m. in the morning when the dogs decided they had to go out actually one dog but you might as well take both right and you may be able to lay in bed just a little bit longer in the morning so anyway no they were they were pretty focused on on the leadership of the United States they weren't mad at somebody in Poughkeepsie they were kind of mad at the overall policy I think maybe part of it is that they're very mad at themselves I think they have five different plans to try to figure out how to lower fuel costs this winter and the question is for them how do they divide up who gets it if they're going to do it all is the EU at the moment they're all fighting over it and driving the prices up but with Germany owning about 80% of everything and all of Europe I don't think I've said this enough I've said it before I don't think people really understand Germany owns everything they lost the war and they and they bought everything back while everybody else was being lazy and I mean that was it buying by 2000 their banks own everything they worked very hard they have a high problem a level of education for the people they got when they reconciled the East Germans they've got a lot of low-dollar workforce they've thought a lot about it now of course they've done some incredibly stupid things and will point the finger at Merkel for making a deal with the devil to get energy from Russia while other people that will remain nameless the US offered huge amounts of natural gas and other resources but no no we can't do that we're going to go to somebody that we know is evil to get our energy so I think they're I think they're mad for a few good reasons I think they're also mad for a few reasons that a lot of times people hate the things they see in themselves that they hate the most and I think a lot of this is looking in the rearview mirror I think they you know if they're gonna talk a lot about a blame I pointed at Merkel her and a bunch of other idiots I don't know how the big industrialists over there let these guys get away with it because it was incredibly stupid but you lay down with the dogs you're gonna get fleece so now of course they're asking for favors from the US that we can't grant because we've cut our nose off to spark spark I can't even say it cut our nose off to spite our face on energy so you know we're you know we could be two billion we could be two million two and a half million extra barrels a day in six months but that's not gonna happen we've got a concerted energy policy here that is suicidal they had their suicidal plan and the question is whether or not after a winter of freezing anybody wants to continue with the suicidal plan on energy 877-927-6648 email me at path at tfnn.com and let's do a little history and then we will get in to the rest of the very big show on this day in 1952 American inventors Norman Woodland and Bernard Silver granted the US patent for classifying apparatus and method we know it as barcodes of course today we better know these as that and of course they've grown into other things and other versions of these of course they pretty much all depended on some technology that hadn't really made its way through and it wouldn't until the mid 80s or late 80s and that was a laser barcode readers they were highly problematic they sold their patent for $15,000 so they didn't make that much off of it and later they were inducted into the inventors Hall of Fame but like a lot of things they were very early in their idea and yeah this 1952 I think it was 1960 or 61 when the first laser actually was invented and shown working so yeah you can you can look at that let's go ahead and start looking at some charts here I think I've got a few the one I was probably most interested in today if I can get where is it at there it is is taking a look at the SMH's over night we had a got Pearl Harbor again by AMD we'll look at that in a minute today you would think we probably have a lot more volume than this 3.85 million shares last low was five I mean I think we're gonna have enough to get back down to lows but right now I probably thought that by 2 o'clock we'd probably have plenty and already be through that September low of 5.25 million shares so it's probably gonna be more but I mean the real outstanding value that we want to be looking at is this 18994 that's the seven and a quarter million share low of July 5th now do we get to there which is I think a much bigger deal energies about the same on the way up is on the way down so at the moment unless we break the SMH's with heavier volume than seven and a quarter million shares by the end of the day we could have just a lot of back and forth one of the things I dislike is going whole hog in a downtrend I love this pattern much better I'm not saying it's going to complete we're probably gonna get there today but as I've talked about it so many times the double repo pattern when you get one two three four five six seven eight nine ten eleven twelve thirteen days underneath the three by three or nine day you get a couple of days above it we're probably gonna close down below it you get maybe one day the next move back if you're trying to buy a low that's generally the the one you get some retest one of the reasons why why I tried to play this first bounce and didn't get it right on some semis wasn't the end of the world or anything I wouldn't be long these inequities I bought some calls thank God I was in several other positions that are continued to do well even in a down market today but if we get some kind of low out here and then break back above it I will be start buying stuff in the semiconductor industry but at the moment no sign yet and doesn't mean that this is going to do that the thing is though if we close below the three by three have a day or two below it and then close back above it Katie bar the door that is big signal we'll be back in a minute if you want to take advantage of this sector now is the time to subscribe to my goal report the goal report is a comprehensive look at the metal sector as well as the markets that move gold which is the currency markets new subscribers get a 30 day money back guarantee so you have nothing to lose every Monday morning I published a goal report with coverage of gold silver bonds the XAU HUI JDX as well as more than 30 different mining equities to see for yourself the types of profitable trades that are recommended within the goal report sign up now by visiting tfnn.com don't miss out on the next great gold trade sign up today 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 at tfnn you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv live every market day from 8 30 a.m. to 4 p.m. eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors tfnn is excited about our new software charting program the art of timing the trade charts in collaboration with tom obrien and using his best-selling book the art of timing the trade your ultimate trading mastery system david white has programmed an outstanding piece of software that will complement any trader's methodology using this first of its kind program the art of timing the trade charts allows you to scan thousands of stocks for fibonacci formation setups including guardleaf abc's butterflies and much more the art of timing the trade charts is designed to help you when scouring the 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find some kind of low but as soon as it does i think everybody will be piling on these right now let's take a look at xom the problem is when you have a really good stock almost everybody owns a stinker and even in energy being a clear winner for the foreseeable future we will find people doing stupid things and generally they sell the strongest stocks because they can and they hang on to the stinkingest stocks because they can't sell them without blowing out the price i mean if we sell something we sell a thousand shares or five thousand shares or even ten thousand shares let's say you're swinging a big line eh market pretty much over as soon as you sell now if you've got a million shares or five million shares and you're some kind of big hedge fund guru much more problematic now on xon mobile you do not have the volume today so i'm not exactly sure what the difference is between these two but a lot of times it's sell what you can not what you can't on big down market days so when we look at this you've got 104 55 didn't quite touch it but you did get into the candle you had a little less than 32 million shares today you've got about 16.7 so let's say you get 22 million shares that's going to be into that candle and a bit shy now you know price is a little bit better than volume but generally it's telling you that maybe this is going to take a pause i don't think it's going to take a blowout pause but you may be able to get a pullback on xon c.o.p looks like the faster horse in this race okay what else do we have i'm looking at two potential trades in m e n and f x i okay you're doing nothing but going sideways in this for a couple of weeks i'm not a big fan of getting into these until you get some kind of sign of strength i do like the fact that you're only about half the volume of yesterday on a down day in newmont mining so i can't say that i'm bearish on it so much as i'm waiting for this thing to give us some kind of signal that it's done going sideways but uh at least today's signal i may count it as 15 percent of a decision uh is lighter so far today uh let's take a look at f x i uh this one is getting really pushed uh by the big titans of wall street and i've got to tell you on this one excuse me um yeah on this one uh i uh f x i excuse me uh this is uh being pushed um you've got some pretty nice low volume we'll see what monday brings but this is a nice pattern one of the reasons why i think that we could get off the lows on monday you had a low on march 15th that i had 117 million shares 2602 you dip below it you bounce back in but you dip below it on 35.6 million shares against that 117 that is a signal that a blind man could see and as i like to say it's a burning bush how you're going to ignore that the bush is burning and it's not consumed a little biblical reference for you heathens out there anyway uh you had a nice bounce today and lighter volume out here uh if this thing acts any well or way uh decent on monday i'd keep an idea now here is one of the things that you want to take a look at this is a potential three gap played at the downside which would suggest you have better than usual odds of getting back up to 33 bucks so now what is uh china unleashed the uh the uh dollars of war and start throwing cash around the country uh does the reopening and the end of a lot of these draconian covid mandates go away hard to know exactly uh what's going on in china uh as we've talked before you always see that unis gal from cnbc talking and i i always have a feeling that if she wore mirror sunglasses i'd see uh five guys on either side of the camera with uh ak's kind of pointed at her in case she says the wrong word i get that feeling that hostage feeling about her actually saying anything that she actually believes but you know if you believe the chart out here you certainly had a nice low on extremely light volume you bounce you had a sign of strength uh on this uh what was this you had a sign of strength with decent volume of 62 million shares you went up for another day you gap down i have a feeling that was a lot of people wanting to get out before the golden man i keep on thinking i'm gonna make a mistake and say something else golden week uh out here and uh you didn't have much volume so i'm we'll see what sunday night brings but if we start seeing money flow into china my guess is we might also see some kind of decent low over here in the united states so uh yep thanks from greg from roots minnesota uh let's see what else do we have oh we were gonna get to amd amd breaking through this long-term gap that was support of course there are some of the pre announcements are starting to flow we had a nice gap up on what is that july 24th or 2020 we're back to those lows uh and how much was how much volume was that let me find it here okay 205 million shares on the upside a little over two years ago so what do we have here today 111 million shares so that is compared to 205 so yeah you're getting into at least some part where there's not a absolute ton of volume i think these companies are probably going to turn around i'm just not exactly sure the one good thing is that both amd intel and nvidia in the toilet there are some good sectors to be looking at because of that i've been talking about it in the tech insider i'm not ready to bite right now but i think that there could be some big winners uh not in this sector but because of this sector uh so i'll probably be writing about that in the monday edition of the tech insider 877-927-6648 and of course uh i got some more stuff here let's take a look da da da da da da da da oh i did have a question here did i delete it uh oh yeah i did not kept it oh we'll get to this when we return uh a question uh from rfb 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 at tfnn you'll get advice and guidance from the authority in technical market analysis and it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv live every market day from 8 30 a.m to 4 p.m eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information david white's investment newsletter the technology insider is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future david white has 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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 principle the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor for 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 had to answer a question and anyway uh oh we got another one yeah i got a couple of them here uh us oh uh us uh oh oil fans holding better than the xle um it depends if you want to be the the tortoise and the hare um i think it's kind of like gold stocks uh gold companies have a bunch of uh gold on the ground so when you buy them and it goes up a hundred bucks an ounce uh you take whatever the reserves are and add that uh to their value um the us oh is really kind of just the oil part of it so you get the instant move here but in the coming days just like gold you find that the gold miners end up getting that money back in spades uh more than generally gold itself so it depends on what you're talking about today is a good sign that uh that uh your other etf and energy will probably do very well as i said on a day like this they tend to do the wrong thing for the wrong reason and the us oh much harder to do that because it's actually part of the oil uh industry you can kind of do that with uh with uh with energy stocks uh that aren't just straight oil etfs uh but uh you know you get a big move like this uh you get a big move in the us oh it's normally followed uh by other companies in this sector uh it doesn't do you any good to sell into an etf like a gold one if gold's going higher um it's still going to be there all you do is diminish the value of the how many shares are out there for gold same thing i think with this one i'd have to look at it a little bit more uh but because i know it's a lp so i don't know exactly how that works in this one so you'd want to look at the charter on us so but my guess is that's the way that everybody looks at it whether it's true or not it's never stopped anybody in the stock market uh so uh that's what i'm looking at i think uh much like gold moving you get a lot of movement or a much bigger movement off the companies around it uh generally the idea and i've told you this theory before uh you don't want to be uh the gold miner you want to be in the guy that's selling the picks and the shovels and the blue jeans um you know and whatever it was 1870 how many people remember the people that actually dug you know you probably remember a couple of people that dug um dug and made some money like Comstack stock or something or Hearst but uh how many people know Levi's and where they're closed still today so i'm a big fan of more of being in the part of the industry that's going to go after it because one terrifically horrific winner uh where really bad ideas are going to kill millions of people probably freeze them to death uh that's if we're lucky it may be worse but uh we're going to have a lot of people die especially in europe for very bad decisions uh my guess is that uh they'll look a little bit different about this issue and drilling and fracking we've already seen the uk change you know where's that uh where all those fracking tools going to come from united states guess what we figured out how to do in the last 10 15 years we learned how to frack there's a lot of offshore uh north sea wells that are fairly empty but man if we cracked them open could we get some more oil and a lot more natural gas i think so inquiring minds want to know but uh that's my idea on it uh question also about uh would you compare apple m1 m2 chips versus amd ryzen and intel new upgrade projects um i'm not a big fan of buying apple you didn't tell me where you're from that would be a big uh big decision the reason why is if you buy an apple laptop with one of these m1 m2 versions in it um they put little sensors in there and they void your warranty all the time if it gets very humid those little they're a little button like things maybe half the size of a regular shirt button uh and they will tell you whether there was high humidity there's enough high humidity down here in florida to set those off and they'll void your warranty i'm not a big fan of buying apple laptops or uh computers at the moment unless you have a very specific reason to have them and then i would only buy the desktop i wouldn't buy the portable like i said i know too many people that have left their apple uh laptops in the backseat of their car and it's rained down here it hadn't gotten wet but the humidity was enough uh to uh bust the sensors they take it in and apple says well this this uh machine got wet and it hasn't and you know apple is one of these kind of companies that can get away with it a great deal uh i could see the reasons for buying the ii iPhones i don't see a lot of reasons for buying their laptops especially if you live in humid areas i've run into far too many people that have paid huge amounts of money you're going to pay probably double for the same thing for an apple laptop then you would pay for one with an intel or amd chip in it now if you want to run the software maybe it's worth paying the double but uh i'm not a big fan of buying their hardware and especially their laptops if you're actually going to take them out of the air conditioning in florida texas uh even hot areas uh you know if you there's any humidity there's just lines and lines of people sewing apple over that uh and continuing to have to get in a war to get their stuff fixed uh on that generally uh most of the retail toshiba uh kind of laptop manufacturers do not do that kind of stuff i mean if they get it in the water starts dripping out of it uh the voyager warrant warranty but apple is the only one i know that that is that draconian on it so not a big apple fan to begin with so i will give you that as the stipulation i don't see a reason for paying double what i would get in it but certainly the new chips for intel and for amd are absolute smokers and that may be good or bad depending on how high end you go uh yeah yeah not uh interesting beliefs and of course uh maybe that belief will leave a elitist to nuclear war and it seems like uh maybe one degree wouldn't been that much to pay uh eight seven seven nine two seven six six four eight okay we got some more about 41 seconds uh question look at nvidia we will do that on the way back in vda uh but uh i do digress you did bounce um you're back challenging the previous low look at this when we return this to gold owns and operates the largest undeveloped gold project in australia the mount todd gold project this to gold just completed their feasibility study resulting in a seven million ounce gold reserve this to gold has all major permits approved and has retained cibc capital market assistance in evaluating alternatives and in completing an accreted transaction this to gold trades on the nyse american and tsx under the ticker symbol v gz this to gold executing a strategy to create shareholder value you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave the chapman wave up down sequence gives you an edge in identifying price 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tfnn stations and uh well we're right down there testing the lows that we've been talking about now for a couple of weeks and that's 36 36 um want to keep a close eye on the volume as i said these fridays we've come down and tested this volume i've been looking for 18 billion shares or maybe even 16 billion shares let's say we don't even get close but still head lower on 16 billion compared to the 18 billion i've been looking at we're doing 7.4 billion shares right now so can you go lower on lower volume you can generally it entails exactly what we're doing which is you come down you hammer the low you hammer it again you hammer it again and it finally chews through the low but right now we've uh we came to this level they ran everybody out on a friday's close the next day we ran it back up this week uh now we're back down here to test it one more time uh the volume uh as we went through was what 12 billion shares for the last friday so now what are we looking at 7.4 billion shares let's say that we get 11 billion shares that would be pretty steep for friday uh being at uh one hour left uh at 7.4 billion shares on the cboe consolidated tape um that's still be lighter uh i don't think that we're going to get a bounce as uh tim ord has said on his uh his uh visits to the show they like to make you sweat the whole weekend long but uh i'd be up i wouldn't do anything today but i would be up sunday night and those chinese markets reopen we could have some real fireworks there so when you can not when you have to we'll see you monday right in shiny all over again building wealth trading in the stock market seems and