 The following is a presentation of TFNN the Tiger Technician Hour with your host Basil Chapman call now toll-free at 1-877-927-6648. Good morning everyone Basil Chapman here on this 22nd day of March Friday end of the week and we're looking at these weekly charts very exciting so let me just run through this we're looking at the Dow down 55 65 right now at 39,716 off to make an all-time high yesterday calling this new leg C and it got into the Chathamway Pro Pelon Zone held just higher high lows and then all of a sudden just took off of course the Fed helped it a lot and now we're having a little bit of a pullback it's gone into the Chathamway inside track repellent zone that's the same as the weekly chart leg C now what I discussed in quite a great detail over the last going from Tuesday through to yesterday I've been talking about the recycle and I need to talk about that in the sense that this weekly chart the nine-peered moving this green nine-peered moving average was hit just a couple of times since that breakout that was the breakout in November the week of the actually it was just before that it was the week of the 10th of November with the pink nine-peered moving average got closer and closer and then it flipped over started on the 17th week of the 17th of November and then on the 24th of November that was green the price was way above the nine never came back to touch it until the last couple of weeks where it's hit that line and it still sprung to the upside and what I was discussing is that from the work that I was looking at in terms of the weekly chart in terms of the nine-peered over the 14-peered moving average that there was now a chance that if we had a new all-time high this coming week that was what I was talking about earlier in the week that it would make a very quick leg see to the upside and because of that a technique that I call chamois squash you can see it in the weekly chart the way I use the MACD the moving average convergence divergence over the slow stochastic when the slow stochastic goes very quickly together with the unbalanced volume makes a little v-shape low which it did late October and then crosses sharply from under 20% to over 20% goes very quickly with price you've got to have price movement pushing sharply higher and then the stochastic goes over 80% and then the MACD starts to widen the nine period moving average it says you can have a very quick what I call a chamois squash that it goes quickly to an A and then a B and then a C when instead of doing that it just had this constant A and every time you would expect some kind of a pullback it was no more than just a brief pullback so I was asked the question you since January we've been talking about a pullback and all I can say is look I've spoken about this nine-peered moving average over the 14-peered moving average just forever and how how it can keep you in a trade much longer than you would ever expect on the short term though look what happened I had cell signals and we went we kept core position longs in the Dow but at the same time we had trading short positions and they worked sideways now I'm not the price you're not the price the price is the price and you already can do is use all the technique you have to follow the price well what happened is we even had some gains in each of the short positions we've had and then got taken out either for a very small gain or a very small loss and then the price went higher and that happened once it happened twice at that peak even at that peak D this is over there at the starting on the 12th of February and then again in the most recent one which took quite a while actually all of this is most of March we're in a sideways training band told me this big spike up on Wednesday so all you can do is follow the user your credentials of the instruments that you use look the MACD normally if you go through any book just go through any chart book or go go Google MACD and that they will tell you that when the MACD starts to fail the price will fail well that's what I used to think years ago and then I found out no no no there are times where the MACD because if you look visually look at all these moves in the MACD you'll see that it corresponds very well to the price movement but every once in a while there is a move down in the MACD the moving average convergence divergence and the prices hold steady and actually moves in a in an exact opposite direction it may goes counterpoint well that's something to recognize and that's why I kept saying my weekly charts are fantastic the daily charts we're trying to get short positions because I have people that want to trade and all I can say is that you have to follow the price and the price said yes there were consolidations they should have been deeper they weren't deeper the price held it held this fantastic indicator the 9 period moving average and that's it so as far as that is concerned I did what I normally do it worked briefly it was a trading position and and now we're out of that we've been out of that since Wednesday out of any short position just short-term trading positions each one of them had nice profits and then they were taken out and that's all you can do is you can say hey I'm doing what I'm supposed to do by following my technical indicators now and of course at the October low I had said and I considered in a sense a mistake because what I'd said we're going to use Microsoft that was like October 30 versus so Microsoft as a benchmark for the Dow the S&P because it's in the S&P the XLK because it's in the S&P select tech sector fund the AI because it's in AI so we use that as a benchmark and it's been absolutely fantastic it's we're in a 338 the core position we've had trading positions since then and it's trading right now at 428 so it's almost 100 points higher than our initial entry price so I'm not complaining about that what I am complaining about for myself is the day that I said get Microsoft it was just such an easy thing to say hey you have to go with the Dow as well the Dow has a lot of diamonds and we are on long positions from 2020 March and October of 2022 we have even have the UDOW you're told never to do that but we still have that that's a double from the UDOW from 2020 to October you should never hold them for long position I wanted to do that because I thought as a trading it's called a very short term instrument three times long but if you get it right almost at a low you can just use the benefit of having that and it's kind of nice it's kind of fun right the diamonds have done about a third 33% gain also and the and the UDOW is done it's double that's okay all right so that's it I wanted to get it out the way it was a question that came up it's a question for now we're looking at is Microsoft's leg team maybe making a big key I'll be back in a moment down's down 101 SDS down 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 in the world of trading only a few names stand out like Larry Pesavento a pros pro with over 50 years of experience Larry has seen it all a former Chicago Mercantile Larry has authored 10 books and trained over 1000 traders with his unmatched expertise introducing Fibonacci 24-7 Larry Pesavento's daily trading service that turns the complexity of markets into opportunities published every Sunday receive a comprehensive report packed with detailed commentary charts and videos that illuminate the patterns shaping the markets with updates throughout the week exclusively for subscribers whether through charts or videos Larry's analysis is your roadmap to navigating the markets you can sign up now at TFNN.com for just 97 dollars and with all TFNN newsletters backed by a 30-day money back guarantee you have nothing to risk for all the details visit TFNN.com you'll find Fibonacci 24-7 right under the newsletters tab a 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 obrien 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 obrien's gold report newsletter now at TFNN.com 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 tigeresses for just one dollar for the year there's no cash or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of TFNN.com free at 1-877-927-6648 internationally at 727-873-7618 hi folks so i got a lot of things that i want to go through i've written it down this time i'm going to stick to the rules that i made for myself by by looking down at my page that i spend the evenings and mornings writing up so but i also have to look at the youtube t youtube tiger and i have to look at our den and some questions came up and each one is absolutely relevant sound hound ai ink a shares voice and natural language recognition it has an ipo back in 2022 and screams from round about the sixes to the 18s and then it comes tumbling down to the ones and it goes peak a peak b peak c in the monthly chart right there leg c still leg c and i can't even put in an up arrow i should but i can't because i haven't got enough details here for a buy mode designation and but i will do that just because in chaff maybe if you get to a c and the technicals are still pretty good you have to do that but the the weekly chart has gone to a leg c s o u n is a symbol trading up down for 47 cents a 621 it had a beautiful buy signal recently and that was back in february at about 160 or so and then it screams peak a peak b peak c goes to a peak d pulls back very sharply but look at this beautiful indicator um the nine over the 14 says no i've still got strength don't don't think i'm going down into peak d with a down arrow there i don't deserve it yet and then it screams up to a peak e and that goes to ten dollars and 20 25 cents on the 14th of uh march and it said one two three four five uh sessions six sessions with lower lower highs and low lows and a gap down today magnies turned down relative strength the gray line here on the daily charts turned down sarcastic's been weak and try to get to 80 percent at the peak e top and then failed it was weaker than the previous highs so the technicals are deteriorating on balance volumes deteriorating so uh question is as zenbeth says woody basil would love your thoughts on s o u n looks like it is breaking down a bit so i am inclined to let us settle down before considering a buy thanks yes i agree totally and you can see that it's gone through the 200 period moving average in the weekly chart uh the week is young we've still got another four five and a half hours or something like that so anything can happen it could close above six point eight six it's at six point two seven right now so at this particular point all i can say is i'm in total agreement with you this is a stock that you've got to put on your list as a screamer in other words it's in the single digits that's model for my subscribers i have a watch list and then i have a list on screamers i just keep it for myself just to remind myself about these so i it's changed so much in the last a few weeks it's just unbelievable how many times there's been a rotation through these small ones even now i've got a screamer listed let's just have a look at that i would just want to show you i have no idea i think i've seen this one before usually i recognize them because i always come back again so i which is oh i've done this before i was a solaris oil field infrastructure it's in leg c in the daily chart just pushing above the 200 period moving average i can't tell you how many oil stocks and all sector stocks in these screamer low very low price um that doesn't make them cheap it just means low priced category stocks in this field that i've been looking at it's quite amazing i don't know what's going to happen to crude oil but uh yeah crude oil looks exactly like this chart right here trading down just 43 cents at 80.64 let's go back to the question was s o u n it's in the category of screamer list low price as big moves up so i just give this time and what does it say it says that the whole area between 580 and 5 dollars i'd say 480 between 580 and 480 that's a whole point that's a huge percentage but that's the area that i'm looking at now to say will it stop will that be the key metric that we're looking at it finds stability where it was before in between the six dollars and really basically five dollar area you gotta i'd hold off but i like the fact oh and then dunk and steven the denser sound yes the one nvidia invested in news a few months ago made it pop reasonably i caught off to that news at 381 they kept the momo are built earlier as i and i think 645s and it went to eighths have not watched since had only 200 shares yeah it's not a matter of only whatever it is it's the fact that you've got it on your list and you've actually used it and you've made money i think that's the same thing now with zen but in the in the youtube ty youtube so keep it on your list it's a screamer but you've got to time it right and when it comes down look at the big move last year when it screened from the ones to the three dollars seventy five three five dollars and eleven high back in june of twenty three came all the way back and it actually took out the left side low so he does that i'd have patience and actually it's more time it will be price but i think you have to include time now so this is i'm going to put it on my list and i'm going to put it on my list for i'm i'm turning pages so i'm going to put on my list for late next week and maybe even the week after i'll put s o u n at six seventeen waiting yes it is a it is a screamer exactly in the category that i like to look at all right enough for that now let's get back to oh the next question was i missed it yes so um w y o in the den had vt vanguard world for some reason is agreeing with the other technical aspects that he's looking at without yes that's the e-mini that's the s and p many all time frames through day are looking at tops yeah okay so let me show you something so i followed this very closely for a long time vt is the vanguard total world stock etf i mean more total than that you cannot get right vanguard total world stock etf makes a leg c in the monthly chart over the 109.30 high of november of 2021 comes tumbling down i should put the price in after all i talk about to 7680 in october of 2022 so 7680 76.80 10 2022 and it screams in leg c now in chapter by mode this suggests that it should still go in 2024 this year doesn't give you the time other things give you the time it still get should get to um a higher high in leg d so you still have to wait for a month a whole month at least for a peak c meaning the whole month goes by without a new recovery high all-time high so 109.30 down to 76 and then back to 110.20 or something like that was that 110.68 and i've got this as a g-slash c now i cannot tell you how many times you've seen g-slash c's turn out to be d's so i'm expecting at least one new high in in that next week might not happen i'm anticipating that that it could everything gets suggested it should try for one more high it's likely it doesn't have to go more than a penny above to make that leg d if today is a peak g-slash c leg e in the monthly in the weekly chart leg c in the monthly looking out very strong short term just looking to see if next week we have some kind of a digestive effect so that's the heat is thank god total world stock dows down 122 if you spend any time online researching trading techniques on how to begin your trading journey you've no doubt come across many folks who push forex trading as a way to make big money quickly unfortunately there are equally as many stories of these so-called forex professionals just looking to make a quick buck off aspiring traders without actually teaching the ins and outs of the forex market this is what sets teddy kek stacks the tiger forex report off the riffraff every monday former chicago mercantile exchange member and author teddy kek stat releases his tiger forex report newsletter where he dives into the complex world of forex and takes time to actually teach you his methods that have made him so successful in the fast-paced and rewarding world of forex trading furthermore all subscribers receive access to archive live streams of teddies where he provides university level education to help you in forex trading all first time subscribers receive a 30-day money back guarantee so what are you waiting for forex awaits many trading newsletters attempt to focus on a narrow set of equities or commodities while this works for some it oftentimes misses many opportunities that possess huge gain potential but how is an independent trader supposed to scan the entire market looking for these hidden opportunities one simple answer the open-to-call newsletter basil Chapman developer of the Chapman wave trading methodology has been trading the markets for longer than most trading influencers have been alive and over that time he has honed his methodology in order to accurately call movements in a wide range of equities from semiconductors to uranium to key indices and so much more basil is old school taking the time to educate the trader while also giving his insights into key indices selective stocks and more opening call subscribers also receive access to dozens of basils educational live streams that can be accessed at any time for your edification all first time subscribers receive a 30-day money back guarantee so ignore the pop trading influencers and start learning time-tested technical analysis are you ready to take charge of your financial future tfnn is your gateway to the world of trading and investing whether you're starting out or scaling up tfnn empowers traders and investors of all skill levels with top-notch investing systems strategies and techniques it's time to protect and grow your money 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should only be utilized by investors who understand the impact of leverage and actively monitor their portfolio they are not designed to track the underlying index or security for more than a day before investing carefully consider a fund's investment objective risk charges and expenses contained in the prospectus available at direction dot com read carefully distributor for side fund services LLC Hi folks we're looking at the e-mini there's the one minute chart in the middle here is the five minute chart on the right is the 10 minute chart think of it as date weekly monthly I like to look at time frames it's really important because the larger tide here says there's a chance for an arch formation in the in the 10 minute chart that's your bigger tide and the 200 period moving average of six five two nine nine is your resistance it was support now it's resistance looking at the five minute chart and that made a peak D and remember the chapter wave peak D or how you start to look for how does it turn down and it did make a top right there and you can see the nine period moving average across negative it's still negative this is the five minute chart made a peak effort doji candle comes tumbling down and is making a much larger arch in this particular instance you can even do everything's applicable if you have a good technique you should be able to apply any other technique to it so I'll apply the Fibonacci right there and what does it say it ran it pulled back and then it's had a rally all the way to about the 61.8 level and now it's arching over it's starting to fail same thing with the dreaded age pattern that's possible in from the dating to the weekly I just got a little ring that says ring the bell and the bell says we've got Robert in Kansas City GBTC yes Robert how are you happy Friday Basil thanks for taking my call it's a pleasure and good to hear from you what are we looking at GBTC are you do you have a position in it no so my my I don't currently have a position my question is where's the buy point for a long position do you think this you know it rallied a little bit yesterday and it's backing off do you think it's just going to resume the decline or do you think this is a temporary pullback can you kind of do a your analysis and oh okay look at like the uh I don't do intraday trading I try to use like a daily chart good or like a five hour chart looks to let me just do this I want to show a particular pattern so I look at three core patterns in the in the in any chart formation it's a straight line up straight line down that's one a cup formation that's two it could be a v but it's basically from one point down and then back to that point how does it treat that point when it goes back is really important all the arch formation that's where you go from one level all the way up and then you come back and you retest that level it could be an arch or an inverted v so the patterns are three patterns straight line cup or arch however when you put the two together you can have a straight line down into the arch formation if it fails at a peak a or a b that's that first peak or the second peak and then takes out the left side low peak and it holds that lower position for two or three bars that could be a one to one of the arch to the downside on the upside if it breaks the cup formation and takes out the left side high the reverse why I show it as green that's very important so what do we see we see a huge monthly chart cup formation from the 58.22 high back in 2022 I believe it was it comes really sharply down under 10 and then it screams where it screams right back up but it takes out the 58.22 high and it goes to a little right there to a new high of 65.61 I'm going to have to type that in now because it's becoming very important 65 did I say 61 this is called a 61 for now and then it comes down and there's your straight line down and then it makes a little peak a right here because today it's already down a little bit but it's a gray a because the stochastics week the mac these week everything's weak but the nine is still holding nicely above they are gray the nine period moving edge is coming down but it's holding well so as I see it right now and I've been speaking about this you might have heard me uh BTC I've been doing about this for a little while now for about a week and a half saying I'm anticipating that there could be a pullback in bitcoin I'm just waiting for everything to come together and I said at 74,415 in the continuous contract the bitcoin futures which went just barely above the previous high of 30s of 70,000 what was it 72 did it get to yeah 72,790 back in November of 2021 and pullback under 20,000 excuse me this is a beautiful U shape formation the very pattern we were talking about a moment ago but the plum line could not be made from the low that was made in November a year later in 2022 at 18.70 18,740 I had to move it over and I like to move it to the next candle of importance and that took me to this month exactly where it said if I use the chat wave inside wedge target repellent line it should get to that that 70,000 level in the month of and that's this month now of March and it's just done that but it's only a leg C I could call it a leg E slash C because the initial starting point was way back at 12,280 in December of 2018 we actually had that whole position for the GBTC and had a fabulous gains and we just have barely touched it since I let that go and when the GBTC was at 12 I spoke about it on air I said maybe this is the time to start getting in like we did before in 12s it actually went to the eighth and never did okay so now we've got we've lost that opportunity so I see bitcoin as having the potential in 2024 to have a digestive phase which I think it's undergoing right now and then later in the year there should be another move up to another all-time high so that's the way I'm looking at now let's get back to where you are right now so the question I had for you is so did you have a position and you don't have a position now what's your actual stance no no position I haven't had a position and I don't currently I was just looking for the buy point and I was I know that you look at these different metrics and I was wondering if you felt like if it came down and you know with the mid you know if it comes down slowly would you expect it to kind of find the floor here and then if it does it back don't don't take a position and wait for it to go to that kind of that next swing point of the 45 area yeah so let's do this so Robert I'm going to do something that I'm doing for myself because and for subscribers because I missed it on the way up everything was there there was no look the green nine-period moving average even the most recent rally from 29th of January when it was trading at 30 this is Bitcoin Investment Trust GBTC it was trading in the 37s let's go to the high 38.67 you could have grabbed it and just walked the nine-period moving average in fact until this most recent turn down it never even touched the green the black line that's the 14-period moving average so I have numbers that I'm going to give you if you want to hold on I'm I'm intrigued with this and let me just do a little bit of work during the break we'll be back with Robert and we'll be looking at GBTC an entry point I'll be right back down to 135. 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 all of this information into one cohesive model when you're already spending your energy looking for any possible trade opportunities luckily you don't have to worry about that as Tom O'Brien has brought all important market news to you in one single newsletter market insights market insights provides a daily overview of what's happening in the indexes bonds gold and more follow along with Tom daily as he analyzes the components that affect the overall movement of the stock market giving insight into how each one plays either a bullish or bearish role Tom also analyzes specific equities that he believes has the potential to make huge returns and his track record proves his analysis right all first-time subscribers receive a 30-day money back guarantee so what are you waiting for don't let the market leave you in the dust for traders who crave risk directions daily leveraged and inverse ETFs provide opportunities to magnify short-term perspectives with up to three times a daily leverage utilize bull and bear funds from both sides of the trade and trade through rapidly changing markets these are highly leveraged ETFs with daily resetting designed for short-term trading not long-term investing whether you're a bull or a bear you choose the direction for up-to-date pricing and performance go to direction.com investing in the funds involves significant risk and should only be utilized by investors who understand the impact of leverage and actively monitor their portfolio they are not designed to track the underlying index or security for more than a day before investing carefully consider a fund's investment objective risk charges and expenses contained in the prospectus available at direction.com read carefully distributor foresight fund services LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ. Hi folks we're back we're looking at GBTC and the question is where would you consider starting a position so number one is when you have such a spectacular move going from basically the 34s January this year to the 65s that is an incredible move you'd expect some kind of a digestive phase I've got the weekly there was a chat wave instant restart right here in November December it went to a peak D December the week of the 22nd one week a slightly lower high the very next week retest that previous peak D high and then screams up to a higher high so I've got basically I should say an alternate count GSAS C for some reason I have not wanted my just based on my technique I haven't yet wanted to even put a G alternative C I do think that this is going to be a slightly deeper move than many people in the in the Bitcoin area think and if you look at many of the others for instance coin coin went to a leg F in the so this could be an alternate count as well in the weekly it's a D in the monthly it's not anywhere as strong as the GBTC and it just squeaked your peak F in the daily and that's is the there is still residual strength so I'm going to say to you GBTC let me go back to the GBTC in terms of in terms of the Bitcoin investment trust if I'm correct in saying that this is a leg C there should be a peak C maybe it's this coming month where it doesn't make a new high above 65 61 and then a leg D that means that you don't have to expect a massive decline in Bitcoin but you do expect some kind of a consolidation so what I'm looking at you I've got Fibonacci numbers here but to me I've got other things that are even more important for instance the gap low of the 28th of February of 52.70 and the previous day the gap the high was 51.41 so I'm anticipating that if there is a close under 50 it's at 56.16 right now if there is a close under 54.30 so that's not very far I mean so really today it's down to dollar 96 if that close is holes and there is a bounce and the bounce doesn't go above 58.60 but instead it actually goes lower than that then I think you're going to look at that whole area of 52 the 52 area maybe even 50 as really the area that you want to be considering is this where you start a position I wouldn't do it right now because I think there's some risk involved based on this the way the weekly chart has had these two big red candles so I just have to say hold off and you know what might happen it happens with these very volatile areas that the pullback is like inch a day and one day we're looking at it and it's down four points and you say oh my god this is the end of the world and then by the end of the day it's down 30 cents or maybe up 30 cents and that's it's already done the whole the wash out of the selling so I'm just saying to you you didn't get in up until now to be buying right now when it's close to all-time highs at 65 was the highs at 50 56 yeah nine points but it's still closer to the high I'd rather wait and I'm with you I'm waiting as well let's look into the game maybe next week Tuesday or Wednesday if you can call or even just give me a text but I would I would say I have to wait that the technicals are still strong enough for me to say there's residual strength Howard handles yesterday's high in the next two sessions is going to be really important and that's the high of 60.33 so I'll make it as if it does if it goes to 60.50 I have to say you know what as a trading vehicle you might have to just grab it close your eyes put in a stop and see it go up but I suspect from the way you would like to get in you would like a kind of a buy and hold at least for a couple of weeks am I correct that's that's correct yes okay so let's let's wait together hey well hey well again happy Friday and thank you for the thorough explanation much appreciated thank you very much for calling and thank you for highlighting that for me so folks let's just do this what I want to do is I had another question I think the question was one that I wrote down yes and I want to go through I was asked about draft kings the other day so DKNG and I had that W formation and I see there's a chance it could break out and then I have to call that a leg C well it's gone to a leg C a possible peak C I could give it an alternate count I don't need that because the stochastics at 85 percent the unbalanced firm is a little bit overboard but good the MACD is good the relative strength is really strong and the 9p moving average has gone above the 14 so the question was about the pattern that I was talking about this W pattern what I did not do and I meant to do it I think I did it was it in Microsoft I did it in Microsoft so both stocks we along we along from a while ago so we got you know good profits there but I'm just talking about the chart now just for disclosure purposes I want to do that let me get rid of this and I want to show you some of the techniques this is technical Friday you see that there's a cup formation here in Microsoft but I had also and I forgot I had I put this in in light gray because I didn't want it was so and you look messy but now let me just open this up I forgot all about it it would have helped me as well if I had seen it let's go to 16 there we go so this says Chapman I can't believe it Chapman wave cup and ladle to leg D pattern and I can't remember where I typed that in but it was way back before we took out the 420.82 high and what is this particular pattern say it says that if from a previous peak DE or F you pull back not you the price pulls back starts what looks like it could be a buy signal but doesn't really give anything but it goes to a peak A and then a peak B underneath the previous high if it takes out that B it not only doesn't trigger a powerful move if it goes over the left side lip but that has to be considered a peak C that will go to a D so that's exactly what happened it went to a peak and then the rule of thumb says that it should retest the left side lip not go much under it it won't look like a cup and handle because it's already gone much higher than that left side lip and this is exactly what happened so this move right here if I was reading what I put there and I made it bigger and I could see it I should have said for subscribers let's just grab this as a trading position if it moves higher we'll just raise the stop because there should be a leg D and it's already done that so now let's go back to dunk D this is Draft King there it is Draft King and it had almost the same pattern but I never did my homework on this one but it's exactly the same thing I should have said there's going to be a left side right side price potential price time match and if that is the case you can get a break that'll take you above the 45 62 peak E high and that'll be a leg C in the chapwave cup and later the whole thing about the beauty of the cup and ladle pattern is that it doesn't make the handle it just goes straight out it goes straight above and it goes to at least a D we'll learn behold there we are it's trading at 4776 that was down 165 there's a beast on nine I'll be back and we'll talk about next week are you ready to take charge of your financial future TFN is your gateway to the world of trading and investing whether you're starting out or scaling up TFN empowers traders and investors of all skill levels with top-notch investing systems strategies and techniques it's time to protect and grow your money with insight you can trust join us live Monday through Friday during market hours for exclusive content that moves with the markets at TFN we bring the trading floor to you our season hosts are here to answer your calls and questions live on the air check out the tiger's den for just one dollar and follow us on youtube and become part of our vibrant community and remember at TFN we're so confident in the value we provide that we are for a 30-day money back guarantee on all new premium newsletter subscriptions and services 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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 so yeah so here's Drowth Kings and is trading at 47 87 it looks like a minority PXC and next week we should make a leg T now this is going to be very very important oh let me just do this real quickly XPV oh if I can just get this done yeah XPV so this is the chapter we falling x formation oh I thought it would spend more time on it this is where you got the pattern that is upside down this is the one right here I took the chart and I just took it upside down this is the falling axe when it goes up and makes low highs and much lower lows and then it makes it forms a little cup formation takes it and here we moving to an arch formation so there's the falling axe and this will be the arch if it does occur it's starting to pull back very sharp it a really nice bounce now it's looking weak okay so that's what we're putting in there so let me just do this quickly um INDU this is the Dow oh wrong chart INDU there it is goes into the chapter wave inside track repellent zone it's down a little more than I would have anticipated I did say to subscribers be careful I think we're going to be pulling back here but we should still go to a D in the inside track that'll take us to a D next week maybe look at the S&P SPX making a leg D making a peak to E right now it could go a little bit higher in the inside track the QQQ same thing and once again I'll be considering I'm not afraid to do it I'm considering that we could start some kind of a short position next week trading just a trading position because those weekly charts are still really strong so within with that said what we're really looking at here is um all those components I never even got to this today oh I forgot the dollar look how nice that is there's a chapter we've inside track sorry the inside wedge resistance line it's going to try for the one or fours but it's doing quite nicely it's not great but it's doing well and look at the comfortable counterpoint you can't hold down the $9 and it's at a peak C this one's striking a little bit more um oh I got it Jeff I'll probably tonight if I can do my overview the the webinar is already on on the on the front page tiger page for my subscribers I'll do my overview tonight