 The following is a presentation of TFNN, The Tiger Technician Hour with your host, Basil Chapman. Call now. Call free at 1-877-927-6648. Hello to one Basil Chapman on this Friday, the 29th of April, last day of the month, the last training day of the month. Wow. Been all over the show, had a spectacular rally yesterday, up 700 points at one time in the Dow. The Dow is now down 49 points at 32,867, off the low of the day. We'll see where, I just see, you know, I just thought of this, the clips of the, wait, where is it in Cornwall? You know, in the film with Paul Darker, any of you ever watched that, and they have these incredible scenes of the ocean, the rough ocean, I grew up with, it was really rough ocean, Seapoint as a preteen, the Seapoint South Africa, in Cape Town that is, right on the coast, you can actually see a Robin Island from my bedroom window. And this is what we're looking at right now. You're looking at, you can't really see the tide, because there's so much surf. And as a result, these huge swings, look at the candles that we've got here. Yesterday, a move of low of 248, a high of 425, so, sorry, a high of, yeah, a 700, 700 point move. Two days before that, there was about a 600 point move, and a day before the same thing. So we are seeing, so far, on the shorter term, from the peak E-top in the day, 35,492, where I drew in strong, at 35,372, that was the high of the 28th of March, and then the retest that was on the 19th of April, the 21st of April, a higher high, with much weaker technicals. Now we've come down very sharply, and there's an attempt at a rally, but basically what we're looking at at this particular point, lower highs and lower lows. So the short term trend is still down. What's really important, one of the reasons why, yesterday, for subscribers I said, we're going to be buying, we're going to have two entries into the Dow Diamonds. We're also going to buy the three times long QQQs, because there should be a rally, that's what we're banking on, and there was a fantastic rally, we took a little bit of profits off, but at the same time, I need to see how we unfold today, because this is the move that resembles very much the end of March, where we're looking fantastic, going just before the end of March, and then all of a sudden, from the high of the 35,372, the high of the 28th, we had those one, two. We had two sharp down days, and that changes the candle. So that's why this is very important. Now the Dow's down 118, so this white water, this thrashing about hitting the rocks and bouncing and having waves coming back from the rocks, almost the same speed to the outside, as the ocean tries to, the tide, the bigger tide is trying to come in, but the smaller tides are getting, you're getting riptides basically, and that's kind of what we're looking at. So the most important thing right now is where we close. There are buyers, end of the month buyers, there are, let me tell you, there are a lot of end of the month, and beginning of the month sellers these days for the last three or four months that we've been seeing that. So now I can answer the question in this, in this today, in this Tiger Technicians Hour, Chapman Wave, more thorough, look at the technicals based on that methodology that we always do on a Friday. So let's just finish up here and say, look, the S&P, the candle so far is really not good in a monthly chart. It really looks like we're making a kind of a dreaded H. What's the dreaded H in the Chapman Wave methodology for those of you new to my work? Let me just show you here. This is the dreaded H. You learn these patterns, these three patterns, it can get you, you put it together with listening to the host here, Tia Phinan, to their different techniques, just when Larry says to me, oh, I'm, you busy talking about that, and I'm looking at this, and I'm seeing my A, B, A to B equals C to D all over the show, and I see my gardenies, et cetera. It's the same thing. So you're looking at three major moves, a straight line move, up or down, that's number one, a cup formation. In other words, you're going from one point down, it could be a V shaped pattern, and back again, how you treat that left side high is very important. You're looking at an arch formation, you're going from one level up and then you come back down. Then you get the combination of, in this case, one and three, it's called the dreaded H, because if you come straight down, you only get your peak A or B, you get the down, you made a peak A minus there because it failed in the H pattern, you made another A minus there, it failed in an H pattern, you made another A minus right there, failed in an H pattern. Are we going to do the same thing here? That's the big question. And if you're tossing a coin, heads or tails, you can keep going. You know that at some point, you're going to get the opposite, but it doesn't tell you how long you're going to have heads or tails showing, and in the marketplace, there's something very different, because although you're looking at statistics, what you're able to do, as opposed to looking at the thumbs of the person flipping the coin and watching them very closely, in this particular instance, you've got all these different technicals. So in the Dow, we looked at the Dow price, look at the technicals, look how far away the 200-period moving average is at 4401. Look at the Doji Canon that was made three days ago, and the big candle that closed above it yesterday. Look at the action so far today, but look at the MACD turning down sharply, yet the histogram little vertical lines are trying to come back nicely. Look at the stochastic, only at 15%, very weak. Yesterday it was, what did I say it was, I think 12% or something, and the on-balance volume made a W formation with a very strong move yesterday, holding okay today. So far, those are all the signs that you look for, for at least a near term, not a short term, but a near term meaning days. Turn around to the upside. We'll see if that's going to hold. Most importantly, as you've got into Chapman wheat inside track, propellant zone right there, and it worked because it held to the bottom line, and the green is the propellant line, red is pink is the outside breakdown line, and it said, look, so far we've managed a bit of a rally, the day is young. Let's see what happens. Wait a minute, remember I was talking about the patterns that we look at, those three patterns, look at this, look at this. So the H pattern become really can become very bullish, and first of all I want to say in the dreaded H pattern, if it fails in an A or a B, only one peak or two peaks high, and then turns down, rolls over, invariably you're going to test and probably break the left side low. Not if there's a C or a D, because you come back, maybe test a low, but that gives you tremendous support, because you've already used up the weakness to go upside, and you use some of that energy on the upside, so it gives you support in the downside, but this H pattern can become very bullish if there is a turnaround, like a U shaped pattern, like that pattern, and there is a close above the arch high, so we have things to look for. I'll be back in a moment, Basel Chapman, Tiger Technicians Hour, Technical Friday, Dowsdale 100, we want to talk about a lot of things, I'll be back. 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. Information. Having all the information gives us the perspective we need to place the right trades at the right time. The TAS Profile Scanner is the premier market profile based scanner. Powered by its acclaimed TAS proprietary algorithms, this feature rich scanner instantly filters over 2,500 plus global financial markets, such as stocks, ETFs, commodities, futures, and forex. This powerful suite of tools leverages instant trade filtering and strategy formulation to show you emerging trades before they happen. For a limited time, you can save $100 off your first month by using the promo code upgrade, and you still get a 30 day money back guarantee so you have nothing to risk. Level the playing field with the TAS Profile Scanner, which you can find under the services tab at TFNN.com. Sign up today. 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 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. I thought we're back. So let me just wrap those up. I got all these questions coming in. Let's get down to the gritties. We're looking at the IWM. Down 29 cents, 190.17. Yes, that was a really nice turnaround yesterday. How we come out of this coming week is the first week of May is really important, but it's in a downtrend. There's no question about that. Oh, I didn't finish the QQQ. At this particular point, I believe I got it says a long and we are still long. We're going to take some, we've taken some profits in the position. It's down 4.64, 323.40. The selling pressure that just came in. At this point, I don't think we can repeat what we saw yesterday and we've seen it other times. We've used up the upside a couple of times and now the selling pressure between 10 and 11 Eastern time, that's going to be really important. And the numbers, if the Dow down at the 33,642 level, the S&P now down 52 at 4235 today, I'm not sure any, there'll be any successful anything other than a bounce off lows. It doesn't look like that at this particular point. So the QQQs need to hold just on a purely technical level for the MACD and the stochastic at 13%, not good at all. Sorry to close under 319 on any 10-minute bar today just says, wow, just be really careful. Now let's do something else. So I want to show you, this is the goal. We discussed this yesterday. A couple of people asked me the questions to follow. I did a very thorough analysis on the JDX and was a fantastic call that I had yesterday by John and Philly. He had gone long at about 42, 22, 26 or something like that, just off the low, and it had a fabulous close. And then today it's got a very nice candle. What I would say is, I've got this three, my own three-bar rule, everybody has a three-bar rule about gaps. But the whole thing about it is how does it close above the gap, the bar that made the gap low, that high? How does it close or if it closes above it? Tommy Jr. has a great show starting off at 9 o'clock here at TFNN Market Kickoff. He discusses a whole bunch of things within the context of the fundamentals as well as the technicals. But what he mentioned was a stock TDoc. And TDoc got smashed yesterday. It went from a peak D, remember the fourth highest peak in the Chapman Wave? We were always looking for that. Went from a peak D back at the end of March around about the 78 area. And it kept making lower lows and lower highs. And then it had this huge gap down yesterday and was trading on the 27th and trades with a lower 55, 82. It has a little problem because the high of the 28th was 34.40. I would say that that, you know, from the 50s to the 30s is a pretty decent drop. But wait a minute, look at the candle today. So there's evidently, Tommy said that Cathy Wood, Woods or Woods was buying TDoc. We're adding to a portfolio or something like that. That's not the point. The point is how does the stock react? But if you look at the stock, the candle high yesterday was 34.40. So far, the high is 35.85. So my rule of thumb is that if there is a close, if there is a move below the low of the gap down bar, that's usually not very good. But if it closes above that low, at least it's okay. Closing below says, oh man, not even people who were caught short-flattered, flat-footed, could, you know, had a chance and they just went even lower. In this particular instance, we've got to watch that because you are now above, if there is a close above today's high, then you have three bars from this level, that's today's level, to see whether or not the open and close of this particular bar, which was at 31.56. That was the open and the close was 30.51. And I say, I usually like to look at the, on a gap down, the higher of the two at first, if there is a close in the next few days below 31.56, is that the high? Yeah, 31.56. No, 31.56 was the open, the close was 33. Yeah, sorry, it's the high one. Below 33, get this right, 33.51. If there is a close below 33.51 in the next two sessions from today, that would say that you've got to be careful because it could retest the wick, the low. But if there is another, a second candle on, in this case, Monday, that is higher than today's high and a close higher than today's close, that says that there's a really good chance that there was an exacerbated move to the downside and that there is still enough room to at least you can't fill this gap unless it's something spectacular, unless it was just an aberrational comment that was made that just knocked this thing flat. If that's the case, then what we're looking at is within the context of this particular pattern that that's something very different. As it stands right now in the traditional sense that I look at it, that these terrible stochastics flat at 9% and whatever the move is today is going to be incorrect if there is a close on Monday below today's low and that is 32.27 and the day's young. If an intraday closes below that, that's even more important. So this is a little bit of a bullish sign right now, but there's a lot of work to be done over the next two bars. And if you look at the GDXJ, the difference is that those three bars you made lower lows and then you had a very good candle and today there's a rally attempt, but it doesn't matter what it is. The GDX is exactly the same thing. The big thing about the GDX is it went right to the 200-period moving average. So I can look at this in a very different way and say, aha, 200-period moving average. Just look at historically, just pull this back and look at this. It was at some point over a period of just going to October of last year. The car was absolute resistance. It couldn't get above and then it couldn't break and hold above at 35.08. Back in November, it went back under it. Then it tried again, hit that level exactly. January, this is the January 20th, 2022. Pull back and then making a higher low, it starts at 28.87. The stochastic starts to rally strong. The Magdi turns up. It starts to build. The 9 goes above the 14 and all of a sudden the GDX is looking great and it hits the 200-period moving average, stops, goes once above it, can't hold it because the next day it's below it, tries again and that's the session that says goodbye and it went all the way to 40.26 on the 8th of March, pulls back to 35.67 in the dreaded age pattern. A successful move because within two days it gets above, the left side low and it goes AP, BCD and E at 41.67 and it comes straight down. Now, I didn't get to talk about this yesterday. It was a really important point of note and for some reason I overlooked it. The sharper one comes down. You remember, on the upside, we use the chap plate notation very, very strict about that. It's absolutely imperative. On the way down, I say these other techniques, but I always have the lettering going straight down, sharpie, leg A, excuse me, that usually completes a major part of the downside thrust. I'll be back. If you want to take advantage of this sector, now is the time to subscribe to my Gold Report. The Gold Report is a comprehensive look at the metal sector as well as the markets that move gold, which is the currency and bond markets. New subscribers get a 30-day money back guarantee so you have nothing to lose. Every Monday morning, I publish the Gold Report with coverage of gold, silver, bonds, the XAU, HUI, GDX, as well as more than 30 different mining equities. To sift yourself the types of profitable trades that are recommended within the Gold Report, sign up now by visiting TFNN.com. Don't miss out on the next great gold trade. Sign up today. TFNN has been educating traders for more than 20 years, with live programming hosted by a variety of professional traders during market hours. And now they are expanding their reach with the Tigers Den, available to all Tigers and Tigresses for just $1 for the year. There's no catch or added costs when you join our community of traders. In the Tigers Den, you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas, interact with other Tigers and Tigresses as they share trading ideas, news analysis, and discuss the market action all trading day, even at night and on the weekends. The Tigers Den at Discord is accessible on mobile or tablets as well, so it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of TFNN.com. TFNN is excited about our new software charting program, The Art of Timing the Trade Charts. In collaboration with Tom O'Brien and using his best-selling book, The Art of Timing the Trade, Your Ultimate Trading Mastery System, David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-a-kind program, The Art of Timing the Trade Charts allows you to scan thousands of stocks for Fibonacci formation setups, including Gartley's, ABC's, Butterflies, and much more. The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now, we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software, get your copy of The Art of Timing the Trade Charts today by visiting tfnn.com. 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. Just to do this really quickly, I had a question about I'm going to get you some questions. One is about LAC, one is about MRBL. I'll get to that. One is about where did it go, where did it go, where did it go? Qualcomm, we'll get to these. So the dollar is in leg D. In the Chapman methodology, we're always looking for identifying the lowest low bar, counting each successively higher peak, alphabetizing them A through G. But it's at that fourth highest. There's never an H. It's A through G. It's the fourth highest peak where other things can happen. We can have the sharpest decline. We had that from the 5th of January, Dow, all-time high, and that was it. Anything can happen, but it could also recycle to the upside. I want to get into that right now, other than to say, look at this, you've got your leg D, maybe a peak D today, the dollar. But the MACD is strong. It's still rising. Stochastic is flat at 92. I love that. There's nothing wrong with that. On-bundles volume is flat because it doesn't have volume. This is the dollar index. And what you're looking at is the relative strength is doing very well. And then you get this weekly chart, left-side, right-side price, time match. Beautiful thing goes. It's a worker bar. It goes two bars, two months later, and it breaks the 102.99 hype that was made back in 2020. And will it close? Remember, my whole thing about these cup formations and art formations is the closing price. And what is it to do two bars after that? Well, so far at 103.20, it's still above that. The day is young. The week is young. The month is young. We have to wait until four o'clock. Anything can happen. And now what we're looking at is the EURUSD has done the same thing. Look at the plumb line right there, left side from 1.06364. Back in late March of 2020, runs up to a peak D, a second buy mode goes to a D, doji candle high, pulls back, makes a V-shaped recovery. This, remember, I'll do this now. I'm not going to keep it there. This high and that high, there were two differences. One was the difference that at this high, look at the MACD and look at the stochastic, how fantastic it was. Look at this one, how it was failing, just a bad sign. So this is the low, I'll keep this and I'll change the color. The green. This is, make it some other color, make it blue. So this is your plumb line. And look at that, the number of bars to the left and the number of bars to the right, two weeks later, it breaks, it smashes the 1.06464 and we go to 1.05248 right now. I hate those numbers, it just drives me nuts. Five digits, give me a break. All right, and look at the MACD and the stochastic. Stochastic said 10, it's still very negative. The nine period is way under the 14. Look at a beautiful indicator. That is the pink line, negative, negative, never still negative. So this makes it really important if you're looking at the USDJPY and that is the currency pairs. Look at this. In the third expansion, leg F in the weekly chart, the monthly chart is a little bit different. This one goes back further and it shows you the left side, right side price, time match. I chose that midpoint there and this one is one month late and here we are in leg E to the upside in the USDJPY currency pair, breaking above left side high. That's really important. Look at this. I just wanted to show you something here for the dollar. This is the double cup formation. Look at that. There's the U shape, there's the second U. That's how you get a double U. A 103.82 was back in 2017, goes to 88. We've been along since April of 2018. The dollar goes to almost 103, pulls back to 89.21 and here it is having hit 103.67. So you can see this is exactly the area that you got to watch closely because it's a big green candle and we've got the whole month of May. If it goes one penny above whatever the high is for the month of April, it extends leg C. So to get a D, that means it's almost like the S&P. Let me show you the S&P and that's the only thing that says to me somehow, some way, after this huge consolidation, bear market in some cases, there should be still a leg C above 48.18 in the S&P. Just like in the dollar, there should be a leg D to the upside because of the Chapman Way of Buy mode. Once you get to a buy signal, upgrade to a buy mode, invariably 90-something percent of the time you'll get to that D and this says there should be a leg D still to come higher high in 2022 and I don't believe I can say this under all the bearish news but this still says this is a huge consolidation taking time so far not so much price compared to the other consolidations. It looks almost like that one over there that was back in 2019, September 29, 40 was the high in the S&P down to the 2340, 6th level. It was back in December, remember that December smash when the Fed was talking about higher rates. So that's what we're looking at. I wanted to do those things and now I wanted to go to the question that came in LAC which is once upon a time we had this is Lithium America's Corporation Lithium Projects in Argentine the United States, 40.39 was the April the 4th high, the peak D pulls back, goes under the 200 pre-moving average for three sessions today as well and then what does it do? It closes, well it hasn't closed yet, but it's pulling above it and now you've got your left side, right side, match, this is the vertical match or the vertical test that I do 4156 December of 2021, a very strong peak D, huge MACD, stochastic is fantastic before it turns out on balance volume gives you the turnaround and then what happens? It pulls back to the 22 almost cut in half, running back to where? 40.39 less than a dollar and a half from the all-time high and now it's pulled back sharp because the question is is this the time to start maybe a nibble and all I can say is that in the spectrum of all these different by-products these products that are really important to battery operations to all sorts of things that apply to the economic infrastructure regarding energy use, some form of energy, yes I like it longer term, I like the fact that it's in a rectangle, I like the fact this is a rectangle right here, I like the fact that it's gone to the lower part of the range and that it should start to move very soon towards the midpoint of the range so what I would say to you is I don't know, I haven't got a good indication that this low is a low of consequence right now but there are enough sides to say that if price moves higher from 26.58 the high today is right at the pink nine period exponential moving average if by Tuesday there's a close above it then 2826 becomes the 14 period moving average target so I'm going to say as an overnight risk I'd be a little careful so yes a nibble to get your foot in the door because it has given an ice green candle from yesterday it tested the 23.72 low of the of of March the eighth it went to 24.02 so that's so far successful in the arch that like the H pattern so that is a good sign but yes I would only put my foot in the door and it's one of those cases where where would I put a stop I'd rather get back in if take it out then hold and say I'm right you don't know if you're right so I would get my foot in the door here at 26.71 personally I would have a stop the 200 period moving average is 26.29 that's a 50 something it's about a uh yes I would say I put my foot in the door right here but I would definitely have a stop at 26.20 I'm just treated as a trade right now this question was Marvell this is Marvell technology a very very fine a semiconductor it was the same type of pattern I'll be back in a month because the chapter goes down 379 isn't it down 65 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 whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property Tiger Realty has the experience across all areas of real estate in the Tampa Bay Area to help buyers and sellers make the most informed decisions across all price levels from the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating Tiger Real Estate can help you make the best decision when it comes to all areas of the market before you make one of the biggest decisions of your financial future call Tiger Real Estate LLC today at 727-329-8322 or email us at tiger at tfnn.com that's 727-329-8322 call us today the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information David White's investment newsletter the technology insider is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future David White has made his living staying on the cutting edge of technology his weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week you can get the technology insider at tfnn.com for only $37.50 sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer try it risk-free today with our 30-day money back guarantee tfnn educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade labu or labd directions daily s and p biotech three times bull and bear etfs visit direction investments.com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 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 for side fund services llc don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv hi folks so we're looking at marvel technology i believe that was a question the question really pertains to the semiconductor area and they've been leaders in their field and they've gone from a high in the 76s most recently but actually the high they've been talking about was 93.85 december the 8th at a p e and it pulls back and it just every rally's fails it did get to a p d from the 58 84 love the 14th of february went to a p d doji kennel did the arch formation did a successful test bounced to peak a and then a b and then what it did boom it goes to a low low and now it's got an a now the question is do you see this you see the mac d is very close to turning up this is the reason why i thought that there was a good chance yesterday that some of the very oversold semiconductors could actually manage a rally and this time there could be a rally that holds a little bit longer and that makes this very important because uh with this move from the low of wednesday at 56 57 it's gone twice now it's gone above the black 14 period exponential moving average and close below it and now it's closing uh just well it hasn't closed but it's slightly above the pink nine period moving average i think it's a little early in the semiconductors i've been negative the smh's since it made the date actually made the top uh regret having not someone a couple of people have said sometimes we have difficulty shorting getting the stocks to short the smh's so i thought oh let's do something else i should never have done i should have said short right there with a seven point stop i would have been fantastic the day the 22nd no it wasn't i i tried there and then i skipped it but then what happened that big rally that was in december going to the double top of three the double tops have been unbelievable at 318 82 early november and the 318 uh 62 69 pennies away from the previous high double top this is the dreaded age pattern but on the downside uh on the upside meaning it comes down so look what happened it pulls back and look at look it goes all the way to 242 tries to ready peak b minus again fails keeps fading goes to 237 ready to see mine and it goes to the most recent so i it's still very early in the whole chat trip sector as far as i'm concerned but it is maybe in the two third stage of the move and this is where you can see at least a bounce that holds a little bit better but i have to tell you something i don't know you just ask me about it and i'm just going to say to you i don't think i would get into anything other than a real short term trade uh almost like l it that we were ls lac we were looking at uh for our tiger tv question i'm going to do the same thing with you at 60 point 60 all i would say is i tip toe in here 60 point 55 as we're speaking it's really struggling um on marvel i wouldn't expect anything other than a bounce and a reach it could actually go sideways again between the 56 level and the 63 is for quite a while um but they're getting closer i think to a major buy but closer means if you're only two thirds into the into the consolidation that's all i'm saying so yeah and qualcomm your question as well i think added qualcomm it's almost in the same position it looks great but um this is a little bit different because i think this is uh the pattern from the top is a little different but at the same time at 144 point 49 right now i probably would say to you rather do an option i'm in fact i'm stepping aside from called qualcomm and marvel to say i'm going to give it another day let's come back to it on monday or tuesday i need to see how it closes and how the general market closes because um i will need the smh's to start leading to the upside as the market is starting to pull back is this the start of that i don't know but yesterday's action said to me watch them closely so i think you're in the right area so yeah because you're in the right area i'm going to say if you want to just nibble on on on marvel that's that's fine or even qualcomm but treat it just as an attempt and trying to find a base that's how i'm doing it right now that's that question next question i had was would i look at oh the vixx index so yeah the vixx index see this is so fascinating to me the vixx index is up today up 51 and 30 point 50 the fact that is held in the 25 ohia area this entire week is saying to me fund managers this is big money this is the way i interpreted big money is holding the vixx index up because they are very nervous and as a result that's the reason why for subscribers to open the call we've kept a very high position of cash around because there are going to be wonderful buys coming up i'd rather have cash i don't care about inflation believe me having something that goes down 30 5 6 7 8 9 10 inflation on things you can choose to buy or not or wait for the sales um this is it's something completely different cash is king it's really important so the vixx index is saying to me and you can see it look at look at the rising trend line how the lows are higher and higher the highs were higher and higher to the 38.94 high that was back in february but now what we're looking at is when you consider all the different aspects that are are negative right now inflation uh crude oil up 107 crude oil i mean if you're looking at anything that says these are the factors that the market usually worries about any one of them would be a factor interest rates because the tlt haven't even mentioned it today the tlt down 75 cents again is the time maybe we'll show this because tomorrow i'll do a more detailed thing for my my overview for my weekly overview for subscribers to my opening call look at this um and this is going to be a very interesting month may because this is the month in may where i usually find may going into june that there are areas that were just decimated that are starting to find a summer rally and that's where we're going to be looking at look where the yields are look at this the pay the cyan is the five year tfvx the brown purely covered right now is the tenure and the white which is absolutely covered is the 30 year so yields uh we made last week we made a high and a leg d this is going to be a pd in the cyan colored one that's important that's the five year but look what the ice is global and timber forest gdf is still holding in the rectangle formation for a year now is stuck in that range but look what happened to the hgx the philadelphia housing index not breaking down but turning the lowercase h the dreaded h into a dreaded y the reverse y where you've had the double top with with left side much stronger than the right side and now you're underneath that that border of the rectangle um and that just says there are things going on here that you've got to be respect you've just got to respect it and as a result um i'm i'm being very selective yes we nibble back we went back into a gold stock this morning only because there's a chance that the dollar starts to pull back but it's a very low priced one i don't want too much money going into anything on the long side right now um it's we've been whittling away putting tight stops in so that we've got this nice cash position i think that's important i did not look at high grade profit question came in what about proper i i don't i think profits in the area likely put the ice is global timber forest gdf which is held well high grade copies in that big rectangle in the week the chart the daily chart says this is the fifth fifth week that i've gone underneath the 202 activity so i think pop is saying be a little careful sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at tfnn you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv live every market day from 8 30 a.m to 4 p.m eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave the chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices get the opening call newsletter by basal chapman and your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report is a comprehensive look at the metal sector as well as the markets that move gold which is the currency and bond markets new subscribers get a 30 day money back guarantee so you have nothing to lose every monday morning i published a gold report with coverage of gold silver bonds the xiu hui gdx as well as more than 30 different mining equities to see for yourself the types of profitable trades that are recommended within the gold report sign up now by visiting tfnn.com don't miss out on the next great gold trade sign up today 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 folks let me just i'm just having a quick look through here about questions yeah there are questions i've answered actually through the other other areas that i've been looking at i've answered some of those questions i just wanted to say so the fxi which i've been very shown for a long time uh this is the this is the china big caps is a large cap etf i made it look at this i remember i talked about this i took it away but i'll put it back remember i said the left side high of the january 2018 and 54 round number high uh this is the fxi and then the retest within i mean 54.33 how many times have we seen remember the double bottom with the microsoft at 70 round number low 70.77 then it had a balance well look at this this is the top 54 back in 2018 and February of 2021 54.33 and look at that failure right there look at the technicals magnies way lower stochastic couldn't hold 80 percent and went under on balance volume gave you a perfect turnaround and i just be careful i don't think you have big balance great it's up five percent today up $1.61 and 31 just be careful we've got enough troubles here why would you want to be going to china that's all i can say okay now a couple of things a question about the vix i'll go right to the vix and say if at any point from this very minute that we're talking about just like i said yesterday as we're talking i said this is the moment that there has to be a rally and it has to be sustained today i think we've kind of run out of time uh for for us we still have some positions uh on the long side in the trade we're actually out of the qqq trade all together i took a profit without now and and now what we're looking at is at 30.43 in the qqq and the vix index if after because it's it's the end of the month i'm going to go make it a little later at three ten this afternoon if the vix index is higher than 3.75 and holding that's going to put tremendous pressure on the general market if the vix is starting to spike it gets under 30 and it's holding nicely between two o'clock and three ten as the market tries to come back that'll allow the markets of freedom to just have their strategy to the closing i'd love a rally into the close only because of the monthly charge in the scp we'll talk a lot more about it by subscribing subscribe and i'll overview a video uh that's without the meeting tomorrow sometime have a great