 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. It was Tuesday the 25th of July, almost wrapping up the month, got just another four or five sessions to go. Look at this. The S&P screamed in a single leg A to the upside from this trend line support at the 45, 80, 79 area and ran all the way up to about the 45, 93 level and then gave it up halfway. That's all, but that's the 10-minute chart. Look at the one-minute chart. It goes to a peak in the Chapman wave. We're always looking for four higher peaks, at least four higher peaks in a buy signal to buy mode upgrade, and then we can see something else happen. It could continue higher, it could have a sharp decline. That could be it. We'll see. My thinking here is, and I want to go through this one step at a time, this particular chart pattern that we see as the Eiffel Tower goes straight up, straight down the one-minute chart, taking out the left side low right there. This is a very mini 20-minute or so chart. The single A to the upside in the 10-minute chart, you can have a failure, but that failure says you've got to go about, I'd say, 60, 60, 70 percent below the low from the high give back to the downside, and then you can see a move. In this case 45, 81 will be the 200-period exponential moving average. Right here, going into the 10-20 time frame, is the culmination of this first part of the trading morning, and then we'll see what happens. Within that context, here we go. This is the way I'm looking at the Dow, but first I want to do something that I wanted to do on Friday. Then, just because of the show, I just completely forgot to look down at my page. It had a big note to say, talk about this. I was looking at charts, charts, yesterday, same thing had it all written down, but I'm not going to forget about it today. Two greats. One is the passing of Tony Bennett, just a fantastic musician, and if any of you know his art, a fabulous artist as well. One of the things about Tony Bennett, and I especially like the latter part of his career, where he was starting to fade a little bit, his voice wasn't quite as rich as it had been, and he started to sing with all these different Amy Winehouse, what was the other one? I like a pianist, singer, a Diana Kroll. He did a whole bunch of stuff, and I love that he was doing that, just do us for them. That's number one. Just a fantastic musician. As I understand it, I don't know. It's only stuff you read. I haven't do it from personal. Although I do know musicians in New York, but I don't know if they played with Tony Bennett. It just sounds like he was a really nice guy. It's hardly ever that you get guys at the top like, oh Lady Gaga, yeah. It was great. The passing says that's okay because he's moved on to another phase. That's okay. We are left with absolutely just a great archive of all the things that he did. That's number one. Number two is that's at the end of a career. There is someone at the beginning of the career who I've spoken about before about six, seven months ago, and I said, I love this player. Alcarez is the tennis player. I love the way he plays. He's just got a litany of styles. He can drop shot. He can go from one side. He's running. I love that. It's not like Sutras and, you know, with all these guys or Federer playing mostly at the back and just whacking and then acing and all that. He does it all. I love that kind of style. And in fact, that style is permeated throughout the younger players, both the men and the women. I love the women's tennis now. It's also very exciting. So with that said, I've done that. What I want to do Friday for God. What I do Monday for God. Well, I did not just overlook that, but I wanted to pay tribute to someone who's got a fabulous career coming up and someone who had a fabulous career going down. So with that said, here we go. We're at a very interesting inflection point. I call it an inflection point. I shouldn't really because that's anticipating something that hasn't happened. So this is what I'm looking at now. This is purely on a technical basis. We'll look at the down. I want to take a little time today. I don't think there's all that much to do. We've got extremely diverse markets. I just showed you in the update G, going to new recovery highs. Raytheon just plummeting to the downside. So even within sectors that are very similar, you've got such diverse, American Express, the American Express takes quite a sharp pullback. Mastercard up near is all time highs. And that's what we're looking at. So with that said, let me just do this. I've got a list of stocks that I'm going to look at. I'll go through them, but I want you to just articulate my thoughts right now. So for subscribers, there are two positions that we've taken short positions. And it was an anticipation. I don't usually do that, but both of the positions that we took were where the daily prices had gone to a D. It started to pull back. And that's usually where we start a particular position based on Chapman methodology, but not with everything in sync. And that's been a concern of mine over the last couple of days, because this is what I'm looking at. Let's just go through all the different charts that I want to look at here. In price, the Dow from the low back in early July, I'll give you the exact date, from right here, this pullback that's still right at the 50 period exponential moving average on the 10th of July at 33,705, suddenly saw the nine period moving average was so close to turning down, remain green. And I should do this right now, one I'm talking about us. And let me just do this. I'll go to recent, recent. Let me just see blank demo there. Let me go to this chart right here. And remember, I spent a bunch of time talking about this and saying, if the one indicator that keeps you in a trade longer than you would ever expect, this is not the one that I wanted. This is a Tesla chart. This is a different pattern. This is a rising wedge formation very often sees a combination to the downside, then a cup formation that tries to get back to the high. And then that's the one that you measure the vertical left side, right side. This is Tesla. I don't believe this is what I wanted, the one at the back, which is the Dow. So yes, the Dow, we get that nine period moving average, and it's still moving higher. So within that context, the nine has held. And one of the reasons why we've kept our core long positions from October of 2020. And then from again in, so that was, yeah, this past October 2022. And then the low back in 2020 is because what we're looking at is just a major strength in the monthly charts. But on the daily chart, look at this. We've got the nine period moving average way over the 14 and the prices way over the 14. In the S&P, you've got the price over the nine and the nine over the 14. In the QQQ, it's getting closer and closer, but it's still, they both positive. I'll be back in a moment. Dow's up six S&P's upset. If you're looking for potential trading setups in the stock market, then Rocket Equities and Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities and Options Report today with a 30-day money back guarantee so you have nothing to risk. For all the details and to start your subscription today, visit the front page of TFNN.com, TFNN Educating Investors. 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 Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. First-time subscribers also get a 30-day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com Educating Investors. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to, and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos, and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com Educating Investors. TFNN has launched the Tiger's Den, hosted at Discord. TFNN has been educating traders for more than 20 years, with live programming hosted by a variety of professional traders during market hours. The Tiger's Den, available to all Tigers and Tigresses, are just $1 for the year. There's no catch or at costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Technically, whatever it is, but if you go back and I remember this from way, way back when we used to wait on a Thursday for the M1 and then the M2 money supply and invariably there'd be some reaction but really I learned a long time ago the trend doesn't change on those things. It usually changes either before or after it'll be a kicker for something that's going to happen in any case. So let's just for the moment extrude the fact that the Fed tomorrow could come out with a statement and I'll do this quickly because it's all ties together with the TBT. That's the inverse of the ultra short, this is the ultra short demon 20 year treasury bond fund. Still like I've been saying for months, stuck in a range. The yields are stuck in a range. It did make a peak D and a pullback but it's holding the halfway marker in this long narrow rectangle formation and it is balancing. And if you look at the TLT, it is getting closer and closer to the lower part of the lower case H that goes to a lower case M. In fact I can even stretch that out a little bit more and say there it is which says it's absolutely imperative to hold the 98 support level right and we're at 101.28. So that just says to me okay that's that's one thing. So it does this is not giving you a clue just yet as to what can happen with the Fed. I'll just say if the if TLT training at 101.27 actually slides under 97.50 in the next two weeks, finally you're going to see something that says oh oh yields can go quite a lot higher but in the meantime they just stuck in a range. That's number one. Number two is going back to to the Dow. So I'm excluding now what can happen with the Fed because if there is going to be a very sharp turnaround it's going to come from the dark news cloud cover because it's not going to come from just price moving. Look the price right now up 22 at 35,432 is way above the nine-period moving average. The nine is way above the 14. The MACD is strong. Stochastic is flat at 193 percent. The on-balance volume finally is getting a little bit overboard and it's very overboard if I squash this a little bit you'll see look at that very overboard but now we've got everything normalized. We can stretch out the dating chart and it just says under any so the price is ready for a pullback but it hasn't done anything yet. So what I am looking and this is the dating I can't go to the week right now I'd have to wait till Friday and I'm not going to go to the monthly. I'm just saying at this particular point I'm going to go to the show the speed road is the daily that's the one that turns around quickest that'll impact the weekly chart so we only need to look at the daily. Look at the S&P. The S&P right now starting to falter. Falter doesn't mean to say that it's turning down it just means that it's struggling over the last five sessions after the little dojo candle at 45 78.43 on the July the 18th it's just it it hasn't made a new recovery high and you've got the weekly chart holding very nicely and the monthly chart so the daily chart here again is going to be the issue so I'm going to say if one at a time if the Dow by Friday is trading not at 35 780 or higher but is actually trading below the red candle of today's so that was Friday now I'm going to go all the way to a Thursday Thursday's high was 35,372 Thursday so it was 35,091 if the Dow is trading below 35,000 Friday into this coming Monday then we've made some kind of a short-term top if the S&P has resistance now up at the I'd say 45 90s but in the meantime if it trades by Friday or Monday trades it doesn't have to close but just trades underneath the candle low of last Thursday but Wednesday and there'll be 43 14 that's 50 points from here to the downside about 500 down points that's this short-term top forget about the weekly until Monday of next week now you're going to start looking at the weekly chart to see how that's impacted but the tutorials are fantastic in all timeframes look at the QQQ something slightly different here it's pulled back quite sharply from the 387 13 low it's trying to pull the gap from earlier last week or the week before but if it's trading under 369 it's a 378 right now that's seven points lower but if it's trading under that we've made a short-term top and it says watch this closely the SMH is the semiconductors oh wait I didn't do the upside if the upside if there's a new recovery high in the 388 in that time that is really good action all right let's go to the should do the IWM IWM holding very nicely good day today up 90 cents at 105 87 are the small caps coming back well if you're looking at small caps look at the things that are being beaten down look you've got triple M I mentioned it yesterday stuck in a range and then all of a sudden comes up with pretty darn good news it's up five at 109.55 leg D but the leg D says that if it's able the high today is 110.37 if it's able to get to 100 and 110.91 then there's a really good chance that the 200p removing average at 111.81 which is the it'll be the first time in oh my goodness wow it'll be the first time since August of 2021 at 202 that that was the last time it hit the 200p moving average it got really close twice it got really close back in end of 22 beginning of 2022 they go close and then it just missed it back in August of last year but it hasn't crossed paths it hasn't even touched the 200p removing average and this is really important so we're looking at triple M and that's the thing that I'm looking at when I spoke about a rotational potential of a consolidation this is exactly what I'm talking about so suddenly you've got triple M in play because it's broke the rectangle resistance well the day is young it hasn't closed but this is fantastic action and the monthly charts is horrible really nice candle but it's a horrible chart the weekly chart is sergeant proved by saying maybe now we get a cup formation and that's the point I'm trying to make that I don't see I'm not going to talk about a crash scenario I just don't see that at all but I don't see a major sell-off here when you've got rotation as long as you got rotation as long as you've got the XLF moving up nicely off the loads in the rectangle formation it's still got a long way to go to get to the 38th which says wow now it's free and clear to try to make its way to the all-time high but at this particular point it's held well it's done well and this says maybe the triple M's and the Bank of America's etc and this particular piece so I need to get back down to show you the bull chart Goldie is now down two at 1959 it's just kind of stuck but I'm watching the dollar because the dollar is acting quite nicely I'll be back down to 21 attention traders Larry Pesavento the renowned trading mastermind is holding an exclusive live trading event on Wednesday August 2nd from 9 a.m. to 2 p.m. Eastern time transform your trading skills with the real-time wisdom of a Wall Street veteran just 295 dollars gets you a front-row seat to this power packed session plus a month free of Larry sought after newsletter Fibonacci 24 7 a 97 dollar value elevate your strategies decode the markets and achieve your financial goals remember this event will be archived for all attendees and Larry only does a few of these a year don't miss this opportunity sign up today at tfnn.com secure your future and start trading smarter tfnn educating investors Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 finishing at number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter mastering probability and you'll receive access to seven of Steve's educational webinars absolutely free at tfnn all our newsletters come with a 30-day money back guarantee so you have absolutely nothing to worry about visit tfnn.com and try mastering probability 30 days risk-free today tfnn educating investors 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 tech 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 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 hi folks so we've got cruel in legs see if it makes a new recovery height today that continues legs see but i still see it going to a d regardless and it is only a very quick leg d in the weekly chart so i just wanted to quickly cover that now where was i i was talking about oh the dollar so the dollar is acting quite well it's not great but it's i mean let's face it you could have a fantastic rally and all it could do is get to last week's high each day's high but this is a nice turnaround based on the chapter wave lowercase h that goes to lowercase m that gets back into the arch formation and the rectangle within two bars it did that last week and it's doing it again this week and that just says to me don't rule out the dollar it is important and you can't rule it out because if you look at the ur usd oh talking currencies that reminds me uh Larry Percevento is going to do an all day webinar or at least five hour webinar coming up i think a week from tomorrow it should be as always just a fantastic one because he just it's really amazing um how he uses these techniques to identify an exact spot to get in either long or short um with the measurements of the way he uses fib the way he uses the godly the way he uses the just all these different techniques and uh he explains them and i i of course i use particular points but most importantly once we got the points that i use chamois methodology what he does is he identifies what could be the turn and then he monitors how it reacts right at that moment and he can have within pennies sometimes it's it's really fabulous so i recommend um Larry's i don't actually i don't have to everyone knows so if you if you're interested i know that you'll already be wanting to sign up check it out there's really a fantastic resource so the euro made a peak d three dodges at the top spoolback sharpie and that's another peak d in the weekly chart possibly this week and this is the reason why i'm saying i'd be a little careful again that's what we do that's why we've we've implemented two different sector shorts um and we'll see that's all i can do we've done it based on certain technical aspects but the one most important one that uh is still very important is that the nine is still in all of them the nine is still above the 14 but in this particular case look the usd jpy this is a dollar japanese yen um it's close to turning green the nine period moving average is still pink and and yet it's in at leg b sorry a peak b very very sharp move up pushing away from the 200 period moving average and the stochastic's only at 60 magdae hasn't even turned positive yet it's really close but it hasn't turned positive so all i can say is you have to wait for these to unfold to get the confirmations but there's a lot that says um there's a chance the dollar can go a little higher if the dollar goes a little higher it does have some impact certainly on the multinationals another thing i want to look at here is so i had a bunch of questions now i'm going to get to them so the stocks let's just see look down always forget to look down at all my notes that i have here now let's just do this one at a time a question about d dog d dog this is data dog security platform for cloud applications this is a very nice double a little potential double top here with a gap up i don't know if there's news or earnings today but the high on the 19th was 117.45 and today it's 117.47 now i've made a really big deal for about a year and a half to say my the evidence of what i do statistically suggests strongly that when i have an alternate count g-c in other words in the chapter we methodology or try to identify the low bar just count each successively higher peak alpha alphabetize them sequentially a b c d e f g it's at that fourth highest peak peak g that other things can happen but there's a chance sometimes when the price when the 9p moving average hasn't turned pink is still green that you've got a continuation pattern and you haven't taken out the previous low that went to a buy signal and then a sell signal so in this particular case i continued the count just to say it looks to me like it's c but i'm going to keep it as a g-c with that peak f at 100 feet point 80 and let's see what happens well this is what i've been saying g-c the majority of the time you will find that you will get as long as the technicals are good at peak d or lay d and then you've got to be careful so right now it's done that and if you do a measurement of the strength at this particular point to the strength uh five six six sessions or five sessions ago you'll see it's just a little bit weaker but price is the officer of the trend right now it's going to a high high leg d in the monthly chart only leg b in the in sorry leg d in the weekly chart leg b in the monthly chart so yes it's acting very well i think that's what you wanted to know um and two two people that asked me about twillio twillio is trading at twillio ink gosh i forgot to write down what they do i can't remember i've seen the seen the price for ages and ages and i keep forgetting this is a very interesting one it had a number of peak a to peak b and then a lower a to b and then a lower a to b and then another lower a to b but no i thought i had to go over this again and then i overlooked it that is the reason why i say that this is your low bar and every single peak above needs to be counted regardless of the pullback as long as the low initial low holes and this is it i everything i was looking at said i must be missing something the chart formation looks like it's a d why it went right to the 200 period moving average got repelled and there it is peak a b stalls a b stalls i should make them great a b stalls and then it goes a bc and you did get that d because everything about it says that is a repellent moment i don't want to i yes i can i can put in a down arrow to say it's in a cell signal close to a cell mode um yes i think it's it's stalling right now twillio i'd be careful it's already tested the 200 period moving average i think it's in a digestive phase i wouldn't be surprised at 61.78 i wouldn't be surprised if the 58th is going to be tested in the next two weeks so just be a little careful and the upside yes it does have upside but i think it's limited because it's a tremendous resistance level next question came in so invidia oh that was just a question of the dead yeah it's having a nice move up to 11 at 458 i think that it's starting to show some topping signs but the nine is still over the 14 i'm watching this really closely because it has to do with the smh's and smh it's got a nice move up to 63 today at 156.55 wow uh that nine period moving average refused to go negative so we're watching this and that also helps us down a little bit just in the sense that it is a kind of a market barometer so invidia is doing well um let me just see sorry for gsm i'm gonna be as well so if you get this done gsm who's trading old people as you green cd okay i'll be back in a moment her bloke plc speciality mentions yeah i've been looking at specialty mentions they've been quite nicely i'll be back 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 are you ready to take your trading to the next level introducing tom o'brien's award winning newsletter market insights your key to successful active trading tom o'brien renowned for his expertise in the financial markets has designed market insights to be your daily guide to profitable trades tom publishes his daily market insights newsletter every market day before the market open along with updates when warranted stay ahead of the game with tom's real time analysis and trade recommendations delivered straight to your inbox whether you're a season trader or just starting out market insights provides the edge you need to navigate the markets with confidence ready to join the ranks of successful traders head over to tfnn.com and subscribe to market insights today don't miss out on this opportunity to supercharge your trading results market insights comes with a 30 day money back guarantee for all new subscribers so you have nothing to risk don't miss out on this opportunity to revolutionize your trading game head over to tfnn.com right now to join the thousands of traders who have already experienced the power of tom o'brien's award winning newsletter market insights firsthand tfnn educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade lab u or lab d directions daily s and p biotech three times bull and bear etfs visit direction investments dot com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at eight six six four seven six seven five two three the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services llc this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz uh just want you to say that thank you uh pat and the dan uh software for communications trio so that's uh two of them together with its subsidiaries provides software and communication solutions in the us and internationally okay very good so uh yes just be a little careful there the next question came in what was i looking at here gsm so gsm is with an m for mother ferro globe plc specialty metals so that's the metals part of it intellect d under the previous peak d of 6.41 oops five 5.44 this is a big difference 5.44 trading today's high is 5.30 intellect d but the rectangle formation remember we discussed this sometime ago i remember drawing it in saying it's stuck in a rectangle formation it's probably going towards the upper part of it so i like everything about it i would not like to see a peak d under the previous peak d because then it could stall for a little while longer but in the meantime it's acting well and the 5.44 high of the week of the 16th of june that would be my my target would be just above that and then it might come back in here again because the monthly chart says a lot of work needs to be done to really break to the upside and once traded up in the 11s and it plummeted down to the three so this is a real nice comeback in the cup formation so another d on the way and that's what we're looking at so here we go a couple of things that i was asked about let me do this let me just scroll down here in the oh and the key support will be five i'd say 512 to 504 that's the support in the shorts on the shorter shorted gem uh this is zip said d dog sold on the sold in the rally we re-enter on a pullback good um ccj oh ccj is the chemical right chemical chemical core this is making a new recovery high uh this is the cup formation that makes a little bit of a cup and handle and breaks to a leg e here i like the action so far it's held the 90s above the four the prices above the nine nine is above the 14 that is not great but good stochastic is flat at 86 percent so so far the buyer seems to be still on the upside leg d in the weekly chart and this actually is a uh new recovery high not an all-time high once in 2011 it hit 44 44 81 in February of 2011 and i could do a left side right side price time match uh and that would take you to yeah it's already past it all i can say it's getting to this ugly candle the day the month after the high was made back in february march of 2011 high was in the 41s lows in the 28s that is a warper so it's trying to fool that that candle so so far good action um okay that's ccj um buzz can we discuss oh gosh so gosh is oil it is the oil uh what is it called it's called the dx daddy s and p oil and gas so this is uh is this a two times long i think that's two times three times long three times long so yeah this is doing very nicely it's at a leg d right now just let me do crude oil if you don't mind yeah crude oil is in a leg seat almost has the same pattern except gush gushing a little bit more it's already gone to a d so i like this very much this is what i would do i would have a partner i think you're along s and p i think you're along and i'm going to say to you why don't you have a it's a three times long so try to take your profits take something off that's what i tend to do for subscribers in my opening call when we have three times long as soon as we get a certain percentage gain i immediately say let's take something off let's take something off and we keep a good core position so just a tad a little bit off just to say hey i want to reward myself for being correct i also want to be using money management so the money management part of me says it's still looking good the mac these good statistics are 90 and flat on balance volumes of tad overboard but it's pushed away from the 200 period moving average so i'm going to say take a little bit off and raise your stop on in other words what you would take off right now you might want to even split it take immediately take off and i would have a just a very tight stop on the rest but i'd keep a core position only because it's a three times long anything can happen um Danny recycle yeah oh oh that's what i wanted to talk about so this is a very interesting in the chivalry methodology we always like to look at the chance of a peak c being retested almost exactly but not going higher to go to the d and then pulling back sharply as a peak c1 c2 failure pattern in other words it's like a d where you get a sharp pullback and that's exactly what i did first should have been the low right here the original original low back in March and then it goes peak a peak b peak c1 oh what am i doing there those are up arrows i forgot to put the letters oh that looks very exciting didn't it a whole new technique we've got here um yeah so that's a that's b and here's your c1 c2 and charts that tend to make c1 c2 often repeat them they really you know they get to know the characteristic of the stock that you're trading does it go to a d if it does that and it does it more than once it says hey very often this wants to do that um and if it fails then say okay be careful it fails but here's the other one this is a peak c1 c2 we can exact top right there and then it pulls back starts to brand your buy signal to buy mode peak a pulls back as long as it doesn't take out the original low you've got to count each successory higher peak peak a peak a b also b c1 c2 pulls back and now we've got peak a peak b peak c and all a d i hope that clarifies for you what we needed to discuss in terms of the chapter we methodology and the only other thing i would do is i'd say yeah you could i'm doing it on gosh i should do it on the oil contract itself but i'm going to do it on gosh my eye says that this is probably the midpoint and that at some stage and i'll give you the the type of price movement in time and price that i'm looking at says oh i should move it to the right i have to add bars so this is one two three four five six so as six days six days to that on the fourth of august and we're looking at um august august yeah fourth so you got to exclude those i say by about the 10th of august there's a chance that i don't think uh 150 is just way too much right now you're at 139 but i'd say you're going you're heading towards the 146 area at this this rate if it continues to hold well that's crude oil right enough with that let's go to the next thing so new month and so none this is new core steel this is a really nice move today up six this is what i mean by the rotation in this market um up six today at 172 yeah i have to call this f slash c because it's so strong and it's a c leg c and the weekly i i have to tell you if the cyclicals like a new cause doing well i i don't want to be overly bearish i can be bearish short term but this is good i'll be back in a moment as a chairman thousand seventeen we'll be right back attention traders larry pesevento the renowned trading mastermind is holding an exclusive live trading event on wednesday august second from night am to 2 p.m eastern time transform your trading skills with the real-time wisdom of a wall street veteran just 295 dollars gets you a front row seat to this power packed session plus a month free of larry sought after newsletter fibonacci 24 7 a 97 dollar value elevate your strategies decode the markets and achieve your financial goals remember this event will be archived for all attendees and larry only does a few of these a year don't miss this opportunity sign up today at tfnn.com secure your future and start trading smarter tfnn educating investors 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 turns finding the peaks and valleys in stock prices get the opening call newsletter by basal 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 you'll get a full refund within 30 days of signing up tfnn.com educating investors everything in the universe is governed by the fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com when you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks you need to pay attention to and you can trust larry's analysis after all he's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from larry on market movement you need to act on at any time first time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors 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 so we're talking about peak c1 c2 and very timely what did we get in the one-minute charge peak and then exactly 25 to time because now you've got another art formation i'm i'm a little cautious here thinking that it's not going to so much be the fed what they say it's what the market interprets remember we need a dark news cloud cover to get some kind of selling pressure that is maintained you can't just have an hour 25 point s and b pullback then you're back to the highs it needs to be sustained to get to sustain the market suddenly has to say whoops wasn't expecting that and then you can get you down move so we'll be watching this very closely and meantime back at the ranch so a a just real quickly i'll go back to what i was looking at so that i'm looking at first of all if that i'll do this for the end of the day if the dow is uh minus 30 or more after 130 this afternoon there's a chance that we'll close negative just waiting for the fed tomorrow if there is up 50 points or more that's really that's very positive at the close that'll be very positive so here we go a a nice bounce today but it's been stuck in the range is this going to be a triple m is this is this one of those that i'm going to say put them on your radar all the ones that were absolutely false ring they could come on as this market if this market starts to pull back fund managers are going to be looking for something else look at z uh not z in the den z zillocore getting a little toppy doji candle uh all the time not all the time a recovery high just recently maybe it starts to pull back so i'm saying uh look at look at the tmo we spoke about this out the other day thermo fisher scientific what a fabulous move up just a week ago turning the 520s today to 580.09 so it's a very special market we've got right now um i think the ai area is starting to become a little toppy i can see that sector coming back a little bit so whole time you've got steve rhodes coming up it should be a great show as always i'll be accurate time of the later today and check out my week old day news