 The following is a presentation of TFNN, The Power Trading Hour with your host, David White. Call now toll free at 1-877-927-6648 or internationally at 717-873-7618. Now, David White. Welcome all to another excellent edition of The Power Trading Hour with me and what do we have here? We'll just update this just to make sure. A lot of pinball going on and also have, why is that? Not exactly sure why I don't have as much audio going on. There I go. So I can hear myself again. Anyway, yeah, been kind of all over the place. We were down 100 points kind of early in the morning. We're off, let's call it 31 points now on the S&P cash. Is that any better? Exactly sure. I've got something going on with my headphones here. Anyway, it doesn't matter where you're at as long as you're here at this time. And it's all just a little bit of history repeating. On this day, yeah, no. So what do we have? Generally what I'm waiting for, for a low is complete demoralization or someone like him. I haven't seen that. I've seen way too many people talk about buying a low. That mean that we don't get a good bounce off of this. But generally just about it, if there's people still talking about buying a low like this and they're not throwing up at the time, I'm generally reticent to think that we have a low. Low and lows take time. I don't know what song that is. Let's go through my head today. And the other thing is whether or not we've got a kind of a repeat of yesterday. The volume hasn't been where we wanted it or needed it to be to show a blowout. So there is, I'm going to say a coin flip chance that we get that kind of a blowout. We need to close back somewhere around $42.50 to actually say that we have done it. Now when we look at the volume, what you probably want to see in a good low that doesn't have to be retested as light volume. We already have about 11 billion shares on the day. So we're probably going to get close to 15 or 16 billion. I would have liked to see the light volume test the low. This heavy volume is generally one that probably is going to get retested. I'm going to say 75% chance that today's low does get retested before we go higher. Does that mean we get retested tomorrow? Not necessarily. And we have a lot of people wanting to get on board now. When you actually look at the long-term effects of, at least for the United States, the invasion of Ukraine, does it really economically make a lot of problems for us? No. It's the second order of effects, and that second order of effect is, of course, now that everybody's doing a whole lot of nothing. It kind of reminds me, I'm trying to remember the comedian, but he talks that he actually named his special, Thoughts and Prayers. Because when you want to do absolutely nothing and not spend a dime, you always say, my thoughts and prayers are with you. That kind of self-saving dribble doesn't do much for the folks. But if you want to do nothing and act like you are doing something, that's kind of it. So far, the Ukrainians are getting that, a whole lot of thoughts and prayers. Not a lot of javelin and stinger missiles to thwart and cost the Russians a great deal of blood and treasure. So the thought is, if they're not going to do anything there, will they do anything in Taiwan? And that's going to be hanging out there for a while. That's the song I was thinking about. But are we beating out some kind of low? You cannot, what I dislike is trying to trade in markets where I don't have some kind of level of decent control. And really, when you move 30 points and 10 minutes in the S&Ps, I wouldn't say that you got a lot of control. I think right now it's more of a bet than prudent speculation. And I don't have to trade. There's always the ability to do nothing, which is a lot of times the worst or hardest part for a trader to wait for that big, fat pitch down the middle, instead of swinging away at wild pitches. And we'll see. Did want to answer the question a couple of days ago from one of our callers who wanted to know just how money was made for the, I guess, for the people behind people writing the contracts for indexes in futures. And it was pretty much what I said. I wanted to make sure that there was nothing back and deeper in that. Every time a contract is written, there's a long and short side to it. If you ever take a look at the commitment of traders and add them all up, you'll find out that they add up to zero. They always write or only write one side when they can write the other. That way the exposure is very limited. There's a bid and an ask, and by trading those over and over again, they make a great deal of money. But it is, for the most part, a riskless trade in that they always have both sides hedged out in the market. So it is just that. It is the equivalent of going to Las Vegas and sitting down and playing poker. There's the rake on the table. That is the equivalent to the bid and the ask. But that's how the casino makes its money. It's taken 5% out of every pot. In the case of futures, it's selling to both sides, but a premium on both sides with that bid and ask. So they take a little bit off every little bit and just a little off the top of every single transaction. And that's how that money is made. So there's not a great deal of mystery to it, but we shall continue on. As I said, we've got a lot of volume. And generally, what that does is set up not a particular low, but a selling climax. And those selling climaxes generally mean a temporary low is in place. And I'd be much more thinking about subscribing to that. Give me a call today, 877-927-669. Are you grinding in the market? But seeing little to no return? Or are you a successful trader simply looking to make your job a little easier? Learn to take the path of least resistance with David White's powerful trading newsletter. David White is an accomplished trader whose deep understanding of technology and the markets allows him to consistently find and share winning trades. Support and resistance define the ranges in which stocks trade. By understanding these trading ranges, David White is able to find the path of least resistance. David White's trading newsletter, The Path of Least Resistance, is delivered daily before the markets open to make every trading day an easy win. Visit tfnn.com today and subscribe to David White's ultimate trading newsletter for $119 a month and try all of our newsletters risk-free with our 30-day money-back guarantee. Take The Path of Least Resistance and TFNN, Educating Investors. What's separating you from the most successful men and women on Wall Street? That's right. 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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 AM to 4 PM 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. Toll free at 1-877-927-6648. Internationally at 727-873-7618. On this day in 1962, the first satellite telephone and television relays are established through the communications satellite ECO-1. The satellite was basically a giant metallic balloon that simply bounced microwaves off its surface, was unadjustable, but it was simple and effective. And for a couple of years, actually was used to being television around the United States. Of course, if you've ever as a, well, I guess probably anymore, they're not there. But as a kid, I remember taking trips across the country with my folks and you'd see these microwave relays and that was really the way that television was distributed for probably until mid-19, early 1980s. Those cones, you would just see them about every 20 miles and they would just relay the signal from town to town, major town. So you were pretty much assured to see one along an interstate. But always interesting to watch those microwave relays, which I think are probably a thing of the past. Okay, we're gonna go to Mike. Is he on the line or is that just a question? Do we have Mike and Orman Beach? Hey, how you doing? I'm here, Dave. Okay, so what's your question of the day? Okay, the question is, I'm kind of putting a little watch list together of stocks I'd like to get into. Once we do get some kind of an established low and I was wondering what are some of the ones you may be thinking of that may have good potential? Well, I brought up a few of them. If you want ones that made really good signs, Amazon did this morning, we talked about that yesterday, a great deal. It opened up way below, filled the gap, did so on a whole lot less volume. There's one right there, the February 3rd low 2766 with 11 million shares with 3.2. So it's not one of the stocks that really has to go and retest that low again. It did it and on significantly lighter volume this morning. So that's kind of what I'm looking for. I like these Wyckoff patterns where they break out with a lot of volume. They come back and fill them. This one filled a little bit more than one would think. But 2,900 was kind of where we were looking for it. And do we get a bounce? Yeah, right now though, the problem is you've got probably extensively hard and fast resistance at 4250. So you're only talking about 38 points higher, I think on the S&P. And then you get into Friday. And the question is, do we get a repeat of yesterday where we just bounced and gave it all back up in another 24 hours? So I do not know the answer to that question yet. I will tell you though, I did a lot of work last night until about 2.30 in the morning, watching the markets try to find the low around that 40, just a little over 4,100 in the futures. And yeah, do we have a temporary low in here? Do I like it? I kind of feel like I'm on an ice flow that's melting. But we shall see, this is about the fourth time they pushed it up. I would like, I would much more think that we had a valid low out here if the Dow also wasn't down 400 points. I think that tells you a great deal. But there's one in Amazon that is the pattern I like. Are there some that you're thinking about? Well, actually I called in yesterday with Tom and we went over Walmart. That's one of the ones on my list. And like I said, I'm just kind of putting a list together and just sitting here like a vulture and waiting for the right moment to get in. Yeah, Amazon looks, I think, better than Walmart here. You've got about six million shares so far into at the highs, a 13 million share low. The last low was 8.4 million shares. Again, what you wanna see for long-term lows is light volume. For short-term lows, you want a lot of volume and that signals a selling climax. That all that means is that you're gonna do something other than go down in the short-term. You could go sideways or you could go up. The Amazon chart, I like a lot more than Walmart. You have any other names you're thinking of right now I could look at? Maybe T, 18T. Okay. Back in the gap up of let's see, December 16th of last year, that had 13 million shares. Into it with 45 million shares. So you may have a little bit more risk here in AT&T over the next day or two. But again, I'm not looking to get in right away. Like I said, I'm looking, once it kind of confirms a low in- Well, I was gonna say- I do like this one better than I do Walmart. Just because of that low. Generally what you're gonna get, if you're gonna get a really good trade on something like Walmart is a bounce on light volume. It's gonna come back and retest it again. Now, does it have to? No, but your trade is gonna be a great deal better off if it does. But yeah, this one, generally when you get fairly strong legs down like you did to have in Walmart, it's much more likely to consolidate for a while. Amazon's probably a whole lot less. We got about a minute and a half left. Do you have any other symbols you're thinking of? Not right off the top of my mind, but that's what I was wondering, what you might have your eye on and you told us Amazon, I didn't know any other- I mean, that just looks right. And we talked about it yesterday and how it looked right. American Tower, are you familiar with this one? No, no, but you know, I'll look at it. They lease the towers out for all the 5G antennas. Okay. This had a double top. It wasn't that bad of a double top up about 300 bucks. You're back down to 220 today. You got a nice reversal signal off this move higher, double gap going back to 3, 26 of March, 26 of last year. That gapped up on 2.7 million shares. You got 1.4 million shares today. So that seems to me one that's probably not going to be at the whims of Putin or interest rates or anything else, right? They're just leasing towers to put 5G equipment on everywhere. Probably a little overpriced at 300 bucks at 220. It looks a little bit better. That one right there seems to be a bit more stable. I'll just look at something that was maybe different than Walmart, but Amazon would be my choice over Walmart, American Tower would be great. Thanks for the call. Thank you, Dave. All the best. Are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with? Become an Apex predator in the trading markets and join the Tiger's Den Trading Room only at tfnn.com. The Tiger's Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas. Join the den and surround yourself with these sharpest minds in the trading world. Subscribers to the Tiger's Den are also the first to have their questions answered live on air and can privately chat with our TFNN hosts live during their shows. Interact with other Tigers and Tigers' as they share trading ideas, news analysis, and discuss the market action all trading day. 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Anyway, you have a question, a couple of questions about CCJ. One's the fundamental argument on it from James. Fundamentally, it's great. There's a lot of demand. They're a candidate so they don't have to do much. I think the trade got better today when we found out that of the economic sanctions on Russia, they're pretty much toothless. They didn't go after the Swiss banking system. So Russia really still has full access to all its cash and moving stuff around. So did they get to that later? I mean, if you really wanted to put the screws to the Russians, that's why you're gonna do it, that they can't, means either the Swiss won't do it or enough people won't put the heavy hand to them. I don't understand it. Same thing happened in World War II. Swiss wouldn't back away from doing business with the Nazis and made a lot of what happened possible. And we have the same thing. So as far as I'm concerned today, as long as that Swiss banking system is still available to the Russians, they haven't paid any price. The only thing that may be a little bit of public opinion, but my guess is in two weeks, this is all off the front of the front pages and someone finds another disaster to go chase in the media, but it doesn't look like there's much going on here to change the long-term for Kimiko. Now on a chart basis, you've got a nice kind of engulfing candle here today with some decent volume, but you haven't taken out the top. So what you really have here is, again, at the moment, lower highs and higher lows, which means that this could go sideways for another week or two until it busts out and then that's it. So I don't see anything that says that you wanna be sticking your head out. The reason is if we had extensive sanctions that really meant something, then that may deter China. My problem would be if China does go after Taiwan now, that they see the green flag in the Ukraine and nothing but a bunch of thoughts and prayers and not real action that they will go after Taiwan, pretty much as soon as the hangover from the squid games is done over there. So I'm, call me a skeptic. Maybe that changes on the, that would change my opinion on the long term on that because that could really hurt the Russians, but then so far, nickel and diming them and not much going on there. Yeah, I don't see anything that gives you a big advantage. What I would love to see in CCJ, if I was trading it, is a break below this triangle that's been forming and you can really make a triangle starting back here on the January 6th high, back into the move here and then one starting about this 1803 low and apt to this thing. So generally the breakout of these triangles is about 75 or 80% on the wrong side. So ideally, if you're just playing the odds, you want to see this thing gap down back below with light volume and then move back higher and then it'll probably take off, but it may be another week on that one before it settles out. 877-927-6648. What else do we have here for emails? Did I get everything? Intel, what's your view on Intel making a bullish engulfing today? Little known fact, Intel is exactly like all the others out here in that the latest, greatest processors all depend on Taiwan semiconductor to manufacture them. There's a special plant on the North side of Taiwan. All of these have a associated risk. So could you trade them and make some money? Yes, would I now that the squid games are over in China are mostly over, would I play these? I would, but I would only use options. I don't want to have any risk out here. Now, I mean, let's say you're looking at the poster child for maximum risk in things like AMD and Nvidia, doesn't mean they won't bounce, does mean though that you could have some severe risk when you come back in. Nvidia of the two looks much better on the lighter volume from January 24th. Both of these are massively shorted right now. So I'm not surprised to see a big reversal. You missed the low by two cents, which is fine on half the volume so far. So Nvidia, much better looking. All of these, if you're playing them, I would want to be in cash in these and wake up and find out that now that we've kind of given Russia the green light and not really imposed anything at least to today, that's really gonna matter in any significant way. You know, if that changes, then I will, but if we're not, if we're not arming a resistance in the Ukraine and going after the Swiss banks, there just isn't much and we are a toothless tiger, at least to the Russians. 877-927-664A. Hopefully I answered that question. Question about the TLT. You had the big risk off trade. This is the opposite side of everything else. You didn't even really make it back to these double gap downs that go back to the third and the fourth of February. For these, I'm really looking at, yeah, this is the equivalent of the dark cloud cover. Not here on TLT. Like I said, I think this is going to 128. If we just go sideways, slowly people will get out of bonds and go back to something else. Maybe gold, something, but if you had TLT or bonds and you got a gift here to get out, be back in a minute. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa and Clearwater markets? Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area. 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And that would be a close over 42.50. That's kind of been the line in the Rubicon. So we'll see how it closes today. But that would be a short-term low, not a long-term low. And again, long-term lows are made on light volume. High volume lows are selling climaxes and that just means that the selling is temporarily exhausted. So yeah, do you have something that you can trade here for the next day or two? Maybe to the close, certainly. But does that mean that this doesn't get retested? Generally, selling climaxes do not get retested within the next week. So yeah, you've got a little bit here. The downside is how close we are right now to resistance, which is 42.50. So I would imagine a lot of people that are waiting for 42.50 or they're about to dump on this market and get short again like they did a day or two ago. So just keep an eye on it. A question about micron. Again, all these stocks I'm keeping an eye on. You know, you didn't have bad volume out here today. You didn't go back and retest the low. So yes, you could be setting up an ABC, 22 million shares back on the 9th of February to 16. So you do have lighter volume back into these candles. And what is pretty much supported about 84 bucks out here. If I was gonna play this again, any of these semis, anything that depends on Taiwan, I would wanna be in options. I don't wanna be in the equity side. The risk is just too high if we get some kind of follow-on. Okay, I got another question. What's the read on if we do not close above 42.50 on the S&P cash? That would suggest that we kind of meander around here. One of the things that can, two things happen on a selling climax. You either get a short-term bounce, short-term, I mean by seven days or something like that. Or you just quit going down, you bounce a little and you consolidate before you go anywhere else. And generally that consolidation lasts a handful of days. You go back, retest the high volume low. So I guess the things to really watch is whether or not we have a bunch of people dive in on this hand grenade before the close today or if they sell. We get another close below 42.00, then the chances are a great deal better that we're gonna consolidate out these lows. Go retest today's low in that low, 41.00. But volume is extensive. And that is generally not a good sign. As Tim Ord and other big Wycoff fans are apt to say, a high volume low isn't a low until it's been retested. And with over 12 billion shares already, on the way probably 16 billion, it's going to be tough. Question, can I look at the gold chart and see where I'd wanna rebuy to two? Yeah, I mean, you had the blow off top here today. It was on decent volume, which suggests that you could still get a retest of that again, but you're probably, I'm gonna say 172-ish, 172.50. That would be enough to demoralize everybody that's been buying gold, I think. And that's generally when you wanna buy it. But good pattern, nothing's really changed here. I think the only thing that happened is those blow off tops on crude and gold. But when we look at the TLT, yeah, that's, you know, that is fairly bearish, just a bounce and a downtrend. And my thoughts are probably now when this heads lower, you're probably headed to 128, not just 132. So it actually would, the way I look at this would be even more bearish on that, which is gonna be probably bullish for gold as people look for places to hide. And you find out the TLT is the proverbial pigs house made out of straw to question about financials. We have here. XLF. Okay, tested a previous low on 170 million shares. You did so today on 99, so that's fairly good so far. Again, as TLT heads lower, interest rates are higher that the TLT was running like a scalded ape up over the last couple of days as people got into it, suggested that interest rates, at least by the market, were probably not going to go higher. So financials were on the chopping block, but actually a fairly good one. The only thing I would like to have seen is lighter volume on the way back down. You may have a low here. It may take a little while to consolidate out in the financials, but your risk reward's pretty good here. You just don't wanna close below 3682 and as long as the bonds head south and interest rates head north, probably going to be better. More people using credit cards, not paying them off and paying exorbitant fees to those folks at the banks. So I think it's good, but you got like a one buck here and a little maybe a little more than that, but right at there, about a buck test. You've got nice light volume. I understand the volume on the downside in this with the rally in the TLT, but I think this just washes everybody out and the light volume is there. So this does not have to get retested. So if you're looking at charts today, I think that would be the giveaway or the takeaway from this show. And that is look for stocks. If you want better, more safe trades, you wanna be looking at stocks that tested their lows and did so on a whole lot lighter volume. Two, what else do we have? Let's check in in the indexes. Okay. Yeah, we're hanging right at what is gonna be resistance. And, you know, who knows? Now, just this morning we had a little dip for margin calls that were back up here and not much has changed, probably takes them off the table for today, but normally we would have been in that part where we had margin calls at 2.30. Rally kind of takes that off, but we have more weakness tomorrow. Look for margin calls in. Back, wrap the show up. 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. 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You went through it actually into the gap at about 2,150. You've kinda come back up, but there is a ton of space between those two. I think you're just kinda lucky here on booking.com, but it does tell you how many of these stocks are way out over the tips of their skis. The big winner of the day, MR, yay. So we said kind of yesterday, two MNA, the big winner of the day other than clove oncology as Moderna. Actually not a bad looking chart. As I said, Pfizer looked to me like it was ready to bounce. This actually had a fairly decent chart, January 24th, 16 million shares. Yesterday had about eight million shares. So yeah, I would have liked the energy to be a little less off this February 1st, but you had a light volume test on light volume. And most of these things, including the IBB, look like they could turn around or that have at least temporarily bottom. A close above 122.50 on the IBB signals that it could have a fairly decent low come in. So at least on a sector, it doesn't look that bad. Let's take a quick look at PFE. Everybody wants these to bounce so they can go back and chase them out. You're getting the gap fill the day on lighter volume than Pfizer. To the 373 million shares compared to 28. So not a bad gap though, maybe another day or so. Pfizer will be ready for 53 and then you'll get a chance to short it. So when you can, not when you have to, we'll see you here tomorrow. Think that channel, same at that time.