 is a presentation of TFNN. Trade, what you see with Larry Pezzavento. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, Larry Pezzavento. Okay, looking good, Billy Ray feeling good, Lewis. I posted the chart here, the gold and my golly. Sometimes these things work. We went up and hit the exact number there, folks, at 2045. Remember, we said we were getting ready to get up there and if you did that, you had to reverse and go short and that's what you were supposed to do. And if you did that, it's down about eight bucks. Put that trade on, you put your stop at break even and hold your breath. Remember, this was a 78% level and the one on the far, far left was a 78% level. So that's part of the thing. Now the stocks, the Dow Jones, I just noticed, went negative on the day. They also implied, of course, he's going to be speaking in 25 minutes, which is always, always something fun, but they implied a 25%, a 25 basis point and also implied that there may, from what I understand, I'm just reading Bloomberg behind me here, that they are maybe not going to have any more interest rate, what do you call it, interest rate hikes. That's really what we're paying attention to. The one thing that did happen is that besides that, we came within four ticks of our long position taking off at $3,000 in the Treasury bonds. We were trying to get out at $133. It got to $129. Excuse me, $132.29 and so what we've done now is we've put our stop here at $132 even. That locks in about $2,300 and that's what we're watching. I can notice just now that the gold just dropped $10 from the high there and it hit, let's see how close it came because I shaded it by just a little bit here. Let's see what the high was and the high was, hello operator, where are you here? It doesn't show what the high was. You know what, I'll tell you why it doesn't is because I'm not on the right page. The high was 20, 45, 40. I had an order in at 20, 44, 90 and that's working okay. It's at $14 right now, but we'll see what happens. Anyway, let's move on. The S&P got as high as 41.65. The Dow Jones got as high as 39.20. Let's see what those relationships were from the old high that they weren't even a 50% retrace. Well, it was 50% in the S&P and about 50% in the Dow Jones. So overall it still looks like we have a little bit more to go on the downside. The interesting one of course has been the Euro because the Euro has just gone up and matched a high and that is what is really important folks because I have done a lot of work on this puppy and it tells us that we got to be ready to get short this puppy and this is about the time we want to do it. Let me bring up this chart and I'll show you why. Hold on, only take a second. It's a second, it's called the weekly and there we are again. You'll be able to see it coming up here. Something big has happened today. Whatever the fit has done, it's making things jump around. There's the 61% retracement. We're back up there, almost matched it again. Just spotted on. I'd like to see it taken out by a tick or two because this should be major resistance in the US in that and then also means that the US dollar should start to strengthen because if the Euro weakens, the US dollar should start to strengthen and maybe that is why gold has sold off $10 so far. We'll see what it does from other times down in here. It's going down a lot more than $10 right now. We're down about $16 in the gold. Boy, so that's not a bad one. Got lucky on that one. Anyway, that's pretty much it. If you have any questions, 877-927-6648, I need to really spend just a small bit of time here because we've got Stan coming in and I want to do this four-hour chart here coming up here with this because it's so doggone important. Give me a second, folks. I'm trying to do two doggone many things at once, but this is what's so very, very important right there. This is what I want to show you and then I want to, as I'm doing this, I'm going to be drawing some ABCDs in here to show you, if you get the video, you don't have to worry about that because it was all done in the video last night and that's the main thing of what we were trying to impart to what we were looking at on these levels here. So let me move this over and get it set up to come into the Tiger Den and then we're going to be able to take a quick look at it here. Hold on where we are. Stop the music and raise the rent. Where are you? Oh, Euro, Euro, where are you? I just did it. You should be right in front of me and I don't understand where it is. This is frustrating as all Pajibis. I don't understand where it could possibly be. It's doggone it. That is really frustrating as heck. Well, the only thing I can do is redo it. So hold on just a second here and we'll try to get this up here. Just give me one second to put it back in again. There it goes back in. I just don't know why it didn't run. Here it is. Now where it's in business. We're going to talk about this when we come back from the break. We've got two minutes, which is more than enough to take a look at it because this goes over the past month or so. Actually, you can see the main spot here is we hit this 382 here yesterday. We focused on that yesterday in the video expecting a move to come up here. And we did. We went back and we matched this high up in here. That's why it's banging up against that 61% retracement. It's important that it gets above that 111 because if it doesn't, this thing is going to have a big, big correction to the downside. It has not happened as of yet, but it has that possibility. Now, that's all I'm doing is what I'm looking at. This pattern right here is the same pattern that we had in bonds three days ago. That's ABCD pattern right here. Right off of the 382 that was way back here. If you notice, the last sell-off took six days. You see that distance right here? Guess what? From that high to that high was six days, and they were exactly the same. In other words, this move right here and this move right here was all the same. And all we're doing now is we're going up and kiss the angel of death. That's 618 retracement on the weekly is going to be really, really important because if it gets popped above there, the US dollars got big problems. And I just don't see that happening right now. However, it's still a little bit early in the day and we're not sure what's going to happen next because the Fed will be speaking here in about 14 minutes. He said he would call me before the next segment to give me a heads up on what he's going to be talking about so that we can put some trades on so that we can not have to worry about what the other guys are doing when they're watching some of these things. So, ah, it's come out twice. So that's pretty much what we're paying attention to here this morning. We've got a break coming up here to save me. We've got Stan Harley coming up with some repeat of one of the best shows I've seen here at TFNN on cycle theory that the correlation between 20 years ago, you've got to pay attention to that, folks. That's just flat, very, very important. Hey, let's take a break. 877-927-6648. Currencies, commodities, and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger Forex Report. Teddy Kegstad breaks down the forex markets every Monday using his 30-plus years of experience as a trading veteran of futures, forex, stocks, and options. Teddy releases his weekly Tiger Forex Report every Monday morning with coverage of all the major currency pairs, including the dollar index, the euro dollar, pound dollar, dollar Swiss, dollar yen, as well as many more, and he also has weekly coverage of the crude oil market and the 30-year t-bonds as they both influence forex markets tremendously. When you sign up for the Tiger Forex Report, you also gain instant access to Teddy's 60-minute Webinar Archive he just hosted, forex strategies, and fundamentals, what is behind the Tiger Forex Report. For all the details and to start your 30-day Tiger Forex Report subscription today, visit the front page of TFNN.com. TFNN Educating Investors. Are 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 on how to invest in the market. He's also been a member of the TFNN where 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 market's open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared 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. Okay, we're back folks. I posted the chart now. We'll just follow this through since we do something different today with the Fed speaking. We had our number up here at the 2045. We had a nice breakdown. As you can see, we came all the way down here to 27. So far, we've rallied up to the 382 retracement right here. And so what I want to know if it gets above that because my stop would be right above the 50%. I want to lock in at least $800 on this. But if it starts to break, we could have a pretty good move to the downside. The same thing, I'm watching the Euro because if the Euro starts breaking out to the upside, this is going to mean something really significant. And he's going to be speaking here in just a few moments. In fact, I just spoke to him. He said to say hello to everyone. And I said that everybody likes to hear you, Mr. Chairman. And he said, yes, we listen to TFNN all the time here in Washington. And so I think that's an important thing to let Mr. O'Brien's know that they are listening to everywhere. I tell you, weren't they listening to in the Money Show because I couldn't believe how many people raised their hand and came up and said they listened to the show and stuff. And I don't think they were just trying to be nice, but the fact that they were listening to it was pretty good. Anyway, that's what we're watching here in the gold now from that level. The next one we're going to be watching, of course, is that Euro because that's the one that is really, really, you know, it's really got game. And we've got to, because that's where the money is, folks. And that chart in the Euro, I'm going to put this up here because it's that important from my perspective and also from yours because I am the one that will be helping you with the orders if we do it. Because if we close above there, that's going to be a really big deal. I don't know whether we're going to do it or not, but there's a lot of ABCDs. There's a 618 on the weekly and the Fed speaking. So he's going to be giving us a lot of information on some of the things that we're following here today as we look at some of these charts, you know, unfolding. So I hope that helps. I'm trying to give you just a little bit of heads up of what we're seeing here as we watch these markets unfold. The big thing I think that's most important thing this week, folks, is the fact that that crude oil market has broken from the $83 a barrel level all the way down to 67. Yeah, 67.95 was the low. And maybe it's still going lower, but that's a huge drop. And that's in the face of the Saudis dropping back, you know, what do you call their production. And why is that happening? So these are things that, you know, you start thinking about fundamentals, you'd be up all night thinking about that stuff. And boy, I don't spend any time with it and I just try to see what the charts are doing. And sometimes they're helpful. Sometimes they're not. But that's pretty much, you know, what we're watching as we look at some of these things here today. On a day like yesterday and today, I can't tell you how much I miss my good friend, Mark Douglas, because we worked together for six years here in Tucson. And I made my transition into, well, I knew more than I thought I did. The main thing that's important is the fact that, you know, we're looking at something that is, the mental part of this game, folks, is so, so, so very, very important. I mean, I think about it each day. And if you got anything wrong in your life, like maybe have a problem with drug abuse, you might have spousal abuse, you might have a lonely relationship, a great relationship. But boy, try to get all that stuff together because it's like that puzzle that's put up by the world, you know, and then you turn it over and it's the picture of the man. You get the man right and the world's going to be okay. And boy, our world right now is not okay. There's just absolutely, you know, no reason about it. There just really isn't. I've had a request here to take a look at the silver market. And so I'm going to do that in just a second here. We'll get this up here and I get it seen because we've had a pretty good run here in silver, but it didn't do anything near like what happened in the, oh dear, this should work out okay, hold on. I am hoping, I am hoping, let's just hope that it will come out there. No, I've got to do it. I've got to send it to the, send it to the, to the den and then I got to put it up. And now it'll come up here in just a second. So notice here that the silver was lagging very, very badly. And where are you, Mr. Silver? I just said you were here and you were lagging badly, but now you've disappeared on me. You know, there it is. I found it. Don't worry. Have no fear. And here it is. You'll see silver couldn't even make a new high from last week or so. So whereas we're, you know, going bonkers to the upside in the gold market. So that's what we got to look at. We didn't even get much above $26. And the long-term pattern on that was 27. So it missed it by quite a bit. So it's going to depend on what's going to happen with this euro and the dollar folks. That's where the ballgame is going to be played because money speaks. And so we have to listen to what that euro is going to be telling us. Let me double check to see what it's doing right now. And we'll double check here. Where are you, Mr. Euro? Disappears on me again. I have so many charts up here, folks. Sometimes I don't even know where I am. Yes, I do. Okay. We're selling off quite a bit now from the euro, which is expected. We couldn't take out the highs of the 26, which was a big day. That high came in at 1, 1032. And this high today was at, oh, it did take it out. It took it out by five pips. I'll be darned. Well, that's an interesting thing. There must have been a few stops up there. Well, there's the Fibonacci number up there, folks, because that's a big one. I mean, you got to pay attention to that. That is one flat out important. I'm going to bring it up here just to show you how important it is, because it's right there where you want to be looking if you're getting ready. Oh, I got to put it back into the room again. And we're going to have Stan Harley is going to come up and save my bacon one more time. And the old... Boy, you know, I put these up here and they just disappear on me, don't they? Ah, golly gee, red rider. Nope, that's not it. I don't know what happened to it. I'm going to have to get someone to help me to do these charts, because by golly, I get them set up just exactly the way I want. And then when I bring them up, they disappear. And I haven't got that many up there. There it is right here. Nope, that's the gold chart. Al shucks. Well, if you've got any questions, folks, it's 877-927-6648. If you have any questions, no one seems to ever have any questions here. Al tells me that don't even bother to try calling in today, because the lines are just lit up like a... He said it looks like Christmas Day. He said nothing but red and green just flashing all the time. So maybe you can get in on the show tomorrow. Tomorrow we're hoping to have a Bill Meridian of Cycles Research out of Vienna, Austria as our guest. He's always a good guest. He's traveling right now. Hopefully he'll be back in Vienna. And we'll be able to visit with him. And then on Friday, we're going to have a little quick review from Mike Moore of Moore Analytics, because he's done such a great job this week telling us that these things in the Petroleum Institute were heading downtown. And boy, they have gone downtown. That's for sure. Big drops. We're going to take a break. Stay tuned for Stan Harley, 877-927-6648. Gold Report As a precious metal, gold is still king. It continues to hold the most effective safe haven in 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 Live every market day from 8.30 a.m. to 4.00 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. Are 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 market's open. To give you the competitive informational edge you need to succeed, these newsletters are packed full of Tom's advanced technical analysis and are geared 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. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Okay, we're back folks and I believe we have Stan Harley, the Harley stock market leader in the house again. Hello Larry. How are you? Did you draw your half a day off? I did indeed, thank you. Hey Stan, I have a question. I know you have a nice shirt and tie on. Do you wear a shirt and tie every day to work? I do. Just curious. I have a bunch of ties next time I see you. I'll give them to you, but it's been so long. I don't even think I could tie a tie again. Actually, it's been so long for me. Oh dear. Anyway, please continue and tell us about somebody's cycle, especially let's spend a little extra time on that 20 week cycle thing because that really put a really strong quiver in my arrow in my quiver. I mean it was very important. So let's go ahead and start out with your 40 months and then we'll go to there, okay? Indeed. Let's look at the big picture first of all. The stock market I find is governed by Fibonacci and these numbers that I often talk about all have their roots in some mathematical manipulation of the Fibonacci series. When I say Fibonacci, I'm talking Fibonacci, Lucas, all the above. And what I have found is virtually all market cycles have their root derivation granted in some form of Fibonacci analysis. The pattern between the early 60s and the year 2000 was dominated primarily by a 49.2 month cycle. Some people call that the four year cycle. It was four years in one month. What I've done here with purple lines and I better align this from our presentation earlier today but as you can see every 49 months like clockwork the market made important lows and from the early 60s all the way through the year 2000. It was a more than a 40 year pattern. That number 49.2 and derivatives there show up all markets, all time frames. As I show, and I'll show in a few charts down the road it also shows up on the daily chart of the stock market as well. But something interesting happened following the 2002 bottom. That cycle, some people think it disappeared. It didn't disappear, Larry. It just expanded by Fibonacci 1.618 from 49 months to about 80 months. And there it is on the screen. Beginning with the 98 bottom, 2000 bottom and then it expanded by 1.618. So we saw bottoms in March of 09, Feb of 16 recently in October of 2022 and should the pattern continue assuming 79.6 months later and I do a least squares best fit of the data series with regression analysis. But the analysis computes May, June, 2029 into this decade for the next low in this series. And I think prices will probably be substantially lower than where they are right now. Stan, when you do your charts, you just actually do them just like there was a paper chart right in front of you. I mean, you actually draw the... and there's nothing computer generated on this. This is stuff that you actually see by hand and do the counts to make sure that the outline... That's what I thought, yeah, because I... Yeah, there's no black box here at all. This is all right between my ears in seeing this and just spending years and years of analyzing and I'm an aerospace engineer by training. That's what my undergraduate degree is in. So I have the mindset for trying to find the formula that I don't toss a coin or throw it up to the gods of chance. I'm one that says, no, wait a minute, there's math, there's order here, let's just figure it out. Sometimes I can, sometimes I can't, I say can't. It means it's a work in progress. And years ago, I just kind of stumbled on these numbers by looking at various Fibonacci relationships and I found that these number series are very, very critical in defining market cycles. What we had up into the 2022 top was right translation. As you can see, right translation, meaning the crests from the 2002 bottom, just prior to that from 98 bottom to the 2002 bottom, we had left translation and course prices went a little bit lower. Following that, we had evidence of right translation which portended rising prices in the subsequent cycle. And that's exactly what happened. I am theorizing right now that the current cycle, the current 79.6 month cycle will be characterized by left translation. So I've shown there with red arrows, I'm looking for a move up, peeking out to the left at the midpoint and then down and down lower. Don't make any inference on the y-axis where I've drawn that line. I just, I think we're going to be lower. How much lower? It's way too early to hypothesize that one. But time-wise, I'm looking for the next bottom in the series in May, June of 2029. On a more intermediate time horizon, the last charts were monthly. This is weekly. The dominant lows tend to cluster either side of 34 weeks. Sometimes a little less, like sometimes as short as 21 weeks, sometimes as long as 55. But the most frequent recurrence in the pattern aligns with 34 weeks, 8 months, both of those price shock, or shock, shock, shock, Fibonacci numbers. And that's what I call this, the 34 week 8 month cycle. Although sometimes it's 21 weeks, like it was in the most recent occurrence from the October to the March bottom. At other times it's exactly 34 weeks and at other times it's a little bit more. But if one analyzes the cycle over many, many iterations and I have and I wrote a very detailed analysis of this pattern and published it in the journal for the Foundation for the Study of Cycles a little over a year ago, and then analyzed it and showed that on a histogram 34 weeks is where it peaks out. So that's what I call it, it's a 34 week primary cycle. Spot on. Take this down a notch to daily analysis. Here is a chart of the Dow that I ran off shortly before noon time here at Eastern Time today. And I've drawn a down sloping trendline with that purple line. And as you can see, the line has contained all of the advances except for one time, we popped a little bit above it of course in the January high. But every other time, the price has either fallen below or more often than not nudged up against the line and then retraced to a lower level. So where are we right now? We're sitting just a little bit below it. We're doing a little back and fill right now as we speak with the latest news from on high, the FONC and the follow on news conference. But I suspect we're going to back and fill on the line or a little beneath it for another couple of weeks. But I think ultimately we will break higher. Why do I think we will break higher? Well, I'm glad you asked that question. Here is a chart I resurrected from the vault. It's the S&P 500 from exactly 20 years ago. And this covers the period from 2001. Why don't we continue after the break? Yes, absolutely. Absolutely for sure. Stay tuned folks. An important chart is coming up. We'll be right back. 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 4.00 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 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. 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. Are China A shares hot or not? If you trade China A shares, now may be time to take a closer look. Trade CHAU or CHAD. Directions daily, CSI 300, China A share, bull and bear ETFs. China A shares in either direction. Visit directioninvestments.com 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 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 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. Folks, we stand hardly. Pay attention, folks. Been doing this business a long time and this is one of the most interesting charts I've seen in probably at least five years and I'm not joking, Stan. This is really an important chart. So please explain to the folks what we're looking at here. Absolutely, Larry. This is the S&P 500 from exactly 20 years ago curving the period from mid-2001 to late-2003. And just with the eye, take note of where the dominant lows occurred on this chart. We had a low in late September 2001 following the 9-11 event. We had another important low in February of 2002. One in July of 2002. A very important bottom on October the 10th, 2002. A secondary low in mid-March of 2003 and from that point we went forward. What caught my eye was this chart and the following chart, which is the present time period, exactly 20 years later. So over on the left I've got July 2021 all the way through the present. And take note, we had a low over on the left side of the chart. The S&P bottomed on October the 4th of 2021. The Dow actually bottomed on September 20th or 21st. Fast forward a little bit in time. We had, of course, a January high, just like we did back in 2002. We had a February 24th low, analogous to 20 years ago. We had a June-July bottom, just like 20 years ago. And the present time frame, the S&P bottom in mid-June, the New York deposit actually bottomed in mid-July. We had an August high. We had a low on October 13th, 2022. And then we had another low in mid-March of this year. So think about that and then I'll just make the work easy. Let's just stack the two charts on top of each other and look at the comparison. And what I've done here with the purple lines is I have lined up the lows from 20 years ago and most recently. And as you can see, they're pretty darn close virtually to the day. Darn close is the understatement of the year. That's nearly spot on. The June-July lows. Even though the June low of last year was lower in the S&P, the New York deposit, the July low, was the lower low. And that matched up with 20 years ago exactly. 20 years ago, we bottomed on October 10th, 2022. We bottomed on October 13th. We had a late December low 20 years ago. We had a late December low most recently. And then we had a mid-March low. Most recently, we had a mid-March low. And back then, the market went higher. Throughout the balance of the year. So I think there is a likelihood that we're going to essentially follow the pattern from 20 years ago. These things work for a while, and then they don't work anymore in my experience. But what we have here is something to kind of file away and say, well, is this time different? And the answer is, no. No, it's not different. We've seen this before. What would be your first indication that it's different, Stan? Well, it would have to break down. Obviously, the market actually went higher into October 2007 before we had a significant break down. And I am not expecting that at all. I remember that one. And actually, the trend back 20 years ago went up to about March 4th, March 5th of 2004. And then went down into August of that year. I'm not expecting a replication of those dates, but I am looking for this thing to run up for the balance of this year. Somewhat analogous to exactly what happened 20 years ago. If that were the only thing I had in my toolkit, I would probably be a little bit skeptical. But here's one more thing that I have in my toolkit, something, a topic that I brought up with you for many, many times. That is the notion of translation. And in the most recent trading cycles with a plural on the S&P, we've had consistent right translation. Even the trading cycle prior to the March bottom, the S&P was the only index among a big five to exhibit right translation. And then assuming we get a low here later this month, which I'll go into in the next slide, we have right translation. Well, right translation portends rising prices in the subsequent cycle. So all of these things, and then I've tracked some indicators that track price velocity and price range. I look at the interplay among the major indices. I put all of that together in my head. And it's my view that prices are going to trend higher. Not to new highs. Some stocks, some ETS will go to new highs. Yes. In the next March indices, I'm skeptical. We shall see. I mean, we'll take this a day at a time. But I think, in all likelihood, the January lows from last year might serve as a glass ceiling, and we're entering an environment. Something akin to what happened 1960 to about 1983-84. And back then, the market is measured by the downed industrials, the most dominant index of the time. 1,000 basis of the Dow is a ceiling throughout that time period. And the market made multiple attempts to punch through the 1,000 barrier, and it didn't, not until following the 82 bottom did it break through that 1,000 barrier. And then we etched out that four-year, 49-month cycle sawtooth pattern. I think we're in store for something similar for the next several years. It could even span a couple of decades like we saw back then. I don't know. I'm not prepared to say that. But nevertheless, I think the highs from last year nominate will serve as a central glass ceiling. They could stand for a great many years. Wow. Really good stuff, champ. Listen, we're going to put a little extra in your check this week because this was super stuff. Hopefully it's better than the mail we get here in Arizona, but you just never know anymore. Stan, thank you so much, pal. This was really, really good. I could spend hours listening to this, but that one chart, comparing 20 years to 20 years, I watched Edwin Dewey many, many years ago when I first met him, when I first in his business, make a comparison saying there was going to be a major low in 1974, and this was in 1971. And it came in within a week of where he said it was going to be, and I always remembered that. So this was a super... Did you forward that on to Peter or Lydie's by any chance? Because I think Peter would love to see that. Peter and I share technical work with one another. Okay, good. That's fine because I think it's that good. Actually, I really do. It's just, to me, it's very, very important. It tells you a whole lot of stuff. It really does. Anyway, listen, thanks for joining us, buddy. We'll have you on again soon. If this stuff you said has come true, if it doesn't, I want to wish you best luck in your next career, whichever happens to be. I think after 40 years, you can keep your job, okay, pal? I understand. It's like the restaurant business. You're only as good as your last meal, and you better have a good waiter. That's what they say in the trade. So thanks again for being on, buddy. I really do appreciate it. Stay in Harley, folks. The Harley Stock Market Letter. Stay tuned for a wrap it up. If you're looking for potential trading setups in the stock market, then Rocket Equities & 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 & 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. Sign up today and become a part of this educational community of traders, just visit the front page of TFNN.com. Okay, folks, it wasn't an if we had enough or we had a great guest, Stan Harley, but we've got a special program for you today, folks. Between 4 and 5.30 p.m. eastern time, Mr. Basil Chapman will be on the air doing his webinar. So please go to TFNN, sign up. You're going to get far, far more than 90 minutes of information, folks. He's got some really great stuff and I think you'll really enjoy it. I posted this chart here of the gold. All I've done is I've marked off, you know, as the market makes a new low, I change the 3-8-2 retracement levels because if it starts to get above there, I would want to be locking in my profit. But of course, all of you that know me know that I covered my short position and went long right here at the exact low. And no, folks, I'm just teasing you. You hear that stuff all the time, but I want to give you a little bit of information. For three days now, I've been sending out these trades to the room full of people, almost 100 people in California. Let's try it again, Larry Las Vegas. I'm going to ask you to take a guess. How many people out of those 88 people have contacted me and asked for more information? There were 88 people in the room. Somebody take a guess, if you can guess. I will be happy to do that for you, Al. No problem. There were two people. And the one person was the one that said I missed the high in Apple by 3 cents. So just because you show people what to do, most people are just flat out lazily. They don't want to do it. Maybe I just fell in love with this stuff years ago and enjoyed it very much. Anyway, try to get into Basil's show 4 to 5.30 p.m. Eastern time. It's worth every penny, folks. He really knows his stuff. He does swing analysis a little bit differently. I think it's much better than Elliot Wave, but it's great stuff. So he's very, very good. And I think he'll enjoy it very much from 4 o'clock to 5.30 p.m. Eastern time. And let's take a break, and we'll be right back with the afternoon update. 877-927-6648.