 The following is a presentation of TFNN the Tiger Technician Hour with your host Basil Chapman call now toll free at 1-877-927-6648. Good morning everyone of this Wednesday the 7th of June we're looking at the Dow up 15 points and 35,588 I think that this is a really important moment for the Dow I mean a moment not in a particular minute but this particular phase right now after that big move from 32,586 to 33,805 going to a peak B had almost a round number 32,805.00 round number at that last peak so that that's the one to to take out most importantly what I am looking at here is look at this rectangle formation I like to look at chart patterns that repeat over and over and when I draw in a rectangle in this particular case no it's not really a rectangle in fact let me just take it away for a moment click on it right there just move around the trade station just has a really nice technical tools that you can use which is what I use I'm very visual so this this is important to me so within this context I've taken this candle of the week of the 16th of December taking the height in the 14,700 area and then the low of 12,600 so about 1,000 points and I've treated that as really important because when we made the arch formation from the 28,660 level of October we are still long from that October low and one of the the reasoning that I've had for just a really long time now is that every rally if we can keep going towards the 34,000 area every time we get really bad news I suspect the Fed news coming up is not getting the markets not gonna like it too much when it gets to the end of this is next week I'm not sure even when it is but we can pull back but each time we pull back yes we made a low a low in that that spiral down to the March low of 31,429 but look at that arch now so the body of trading is in this rectangles and then we put the rectangle back so you can see why I have yes it looks messy it's got a bunch of things but look I can get rid of that now because that's not important that's chapter we've inside wedge target repellent line I can even just for the moment I'm gonna get rid of the left side right side price time match because that's now a little bit there's there's a little bit of an imbalance but what's really important is look in my methodology I have a technique that I call the inside track repellent or propellant zone and what it says is when you can join two peaks and I use the wick high most of the time just the wick hides really important I can go to the body but mostly I try to go for the wicks and then I draw a little tiny little narrow trading little channel right there I'm always I'm not sure six to maybe an eighth three sixteenths it's just a tiny little channel when the price gets into that channel it so often gets repelled and that says and I'm not sure it's going to do that in this particular move we'll see days young weeks young month is even very young but what I want to see is the Dow start to take out this peak C of 34,257 to go to a leg D and that will take it above the inside track repellent zone I'm spending just a little time with us now because it's so important it's important looking out it's unimportant today I think today's a little bit of a struggle with the market but in the meantime back at the ranch that's why I've got the rectangle there so the main body of performance is over the low that was made back in the 20 we the 23rd of December 32,570 that's all I'm doing so with that said you can see how it's struggling it's already three three days and it hasn't gone to leg C about 33,805 right let's get out of this as a main thing is the key support is around 33,300 33,200 the S&P different chart pattern look at this it's making higher highs and higher lows and it's just gone I'm calling this I have no choice but to call this a leg F right now you can go to a G there's never an H but there's also the I love this in the market there's always a and if this and if that is almost like an economist saying put on the one hand and on the other hand but this is a chap we've instant restart it's a whopper of an instant restart because with three bars it went sharply lower it it went right to the chap we've inside track propellant zone and then whack right through the inside track repellent zone which is now support in the 43 whoops in the 42 I called it 58 to 68 area and here we are 42 92 so this could become F slash B we'll see about that I want to just go one step at a time the weekly chart you can see the same sort of thing we're going towards the left side high 43 25.28 made and I always should put in when it was I mean it was August so well now what we're looking at is very good action even the weekly chart has the potential for a chap we've instant restart I just circle it and let the prices go where they're going to go that's all there's to it I don't have to tell the market where it's going to go just for some reason I think it won't be listening look how nicely it's gone above the inside track propellant zone in the monthly chart but that's a sideways move slightly high slightly lower lows and I want to see this leg C continue nicely higher all the way through June and I think that's going to be really tough all right look at the IWM lousy lousy lousy then whoosh if you look at the monthly chart and nothing to see and this is a big rectangle what a big rectangle can take all the way back to 200 we're 187 right now look at this weekly chart gone peak a this is now a leg B a leg is a leg is a floating letter until it makes a peak and we had a peak B that pulled back previously back in February yeah February the week of the third at 199 26 this is a stupendous movement even young the dating we could be having a chap we've instant restart I gotta feel these resource are just going to continue with letters sequentially higher and then we'll see what happens but in the Dow that we haven't even started legs see it could fail yeah but we'll we'll see what happens meantime back at the ranch I'll just quickly do the smh as I don't want to hit the break before I finish this nice bounce today up to 66 at 147 8 148 and above below the 150 171 high look at the weekly chart everything there is still positive when I say I think they're going to move higher in a slower uh upside move then uh you say the lagging sectors like the XLF which is the S&P select financial pulling back a little bit from a very very sharp move yesterday uh down 10 cents of 3294 the kre which is the regional bank etf has a target for me of 44 did I type that in no I forgot to type it in on this one 44 59 as the first big resistance area left side right side price time match going into a couple of weeks time in fact so this is still a excited couple of days time this is still early and it's up 98 cents at 44 15 we went along on uh was that yesterday before yeah we are long anyway we've been long a couple of times and uh now uh what we're looking at is this weekly 14-period moving average at 44 18 that's going to be the big issue how does it kind of close above it it hasn't closed I mean closed above it since this little candle right here the week of the 7th at 64 12 20 points higher and higher unbelievable what a smash S&P regional banking etf so I'm suspecting we've got a little roughness coming up here I've got the little chart here of the uh one minute and a peak after the 10 minute I'll be back in a moment does up 13 S&P's up six dazzle chapter we have exciting news tigers this june tim ord of the ord oracle will be hosting two webinars providing insight into his renowned market timing methodologies on June 8th tim will delve into the S&P 500 teaching sentiment indicators identifying market bottoms and divergence and so much more on June 15th tim pivots to the gold market taking a look at cycle analysis ratio studies advanced decline indicators and other important tools for analyzing this sector sign up today on 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 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using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30 day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of tfnn.com tfnn educating investors call now toll free at 1-877-927-6648 internationally at 727-873-7618 hi everyone so question about gsm which is ferraglow plc specialty metals only just get rid of this here and I can see tiger youtube any questions that come in there uh yeah okay so look at this as a time sequence I I hadn't done this before but I'll do it right now it's trading gsm trading it up eight cents at 513 so if I go to the left side high and I just go to the mid not the midpoint but the certain candles that I like to look at here as showing either indecision or it's a peak or a trough that looks visually important this is the reason why I had such a terrible time when I wanted to do this particular measurement as an objective analysis that is computer programming related it's it it's tough I have a couple of things just a couple that are just purely visual that I do have a methodology but it's a it's a methodology that has human choices not robotic in other words I can't I couldn't say specifically that if this happens and then uses part b as your your template because in whenever I've had this done the the computer takes part b and turns it into part a it makes it so important I'm just saying hey you know let me just count it this way and that's the most common sense way to do it because it's a visual thing that I'm looking at it doesn't work that way when you're programming you've got to be so specific which is fantastic because when you're so specific when you meet all those criteria you've got no thinking to do you've done your thinking you've done your planning in this particular instance there's a lot of thinking which means you've got the human error that that is possible you've got to account for that so what I do is I choose in this particular I've chosen this particular candle right here this tiny little doji candle I've used it as a left side right side price time mark match that's the symmetry to the height that was made at p could be minus because it failed on the third of March at 547 let me just type in 547 just to show you what I'm doing I'm going to do the same thing now I'll choose some kind of a commodity because I had a question about that and I said I'll do some work on that and then it went to a low of three dollars and ninety three ninety five on the fifth of on the fourth of May three five there we go three point nine five so what I'm looking at is in this particular methodology whichever inside wedge repellent line was hit today exactly right there the little dash green line and I take it from a specific left side bar and this particular instance what we're looking at is it goes all the way to the exact left side right side price time match of the 19th the 19th will be about a Monday a week I think it is Monday we're talking about June right yeah that's exactly what it is Monday a week oh that's a long time but anyway it says by Monday a week we're trading with a high today of five twenty seven you only have 20 points 20 cents to go but anyway it's a leg C and it says that that's your resistance line when it's supposed to trade above it you're going to be able to get there quicker and quicker but by the 19th you should be testing 547 you're in leg C there should be a pullback and then a leg D now this is the other thing look the MACD is deflected high in the M shape pattern with the price going much higher that means that buying is coming in very intensively this is we're looking at gsm ferro globe plc specialty metals but what's really important is the stochastic is only a 67 the on balance volume is really weak but look at the nine even on that pullback the nine did not flip into the pink negative territory it's taking that's usually a big positive says you've got you've still got upside momentum upside momentum means that there's a chance you could get your D but you might be slowing the upside this particular point but the stochastic says wait a minute if the stochastic says 67 and you love 80 percent isn't that really bullish well the answer is yes and then the on balance volume is still so weak it should go much higher every other high it was running sharply it isn't yet isn't that bullish for it to go high the the answer is i'm using two indicators here to say things are really good one is the the green nine been moving averages way above the 14 that's good the other is the MACD is deflected back up again that's good so all i can say is i have a divergence here and this divergence says that we could be making a leg D soon and then you're going to get quite a sharp pullback because every time you've made these peaks and turned around that turn around has been quite vicious that's my warning so the price is acting well but i think i'm starting to see a divergence that could say we're getting to another one of those areas where you can get a sharp pullback and look at the weekly it's stuck it's got this cup formation but it's really stuck in a lower rectangle formation below the high that was made in that ugly candle from back in somewhere in november in the in the 640s so all i can say is i'm putting in this as a rectangle here and it just says MACD is good stochastic it's not great and the nine three moving averages moved over the 14 that's giving you strength but the five 40s should offer you a lot of resistance okay i hope i did that now next thing i want you to do is i just to run through the gold just static right now silver static uh yesterday and today it's running a little bit it's actually gone to a leg i think that's a leg uh c it's the 20 30 yeah 2351 2351 yeah this is a leg b so this is going to a leg b with a technical strategy improve a little bit the nine has not crossed positive yet and all i can say is that uh silver and gold move in the same trajectories but they have very often have very different price patterns and within that context what i am looking at here is that the weekly chart of silver says yeah it's had a consolidation this consolidation could continue a while longer probably with 24 30 as as resistance on the upside today's high is 24 16 so maybe a little higher 24 40 maybe but key support of the 23 24 200 period expansion moving average i'll do a high grade copper quickly nice move up up point one point oh one uh 3.780 is the price most importantly is it's the weekly chart says yeah it did get to that support level chapter inside track support level it is running off that but it's not a very strong rally i want you to go to crude oil crude oil there's the pattern that we were looking at i said stuck in a rectangle formation when everyone's getting really bullish i said you might be right but my chart doesn't say that the way i'm reading the chart says we stuck in a range we're making in the lowercase h that goes to a lowercase m it did fail but it didn't break below the 63 uh low that was 63's area that was made in crude oil on the continuous contract back in early may so it really is stuck in the channel and you can see that in the weekly as well if it starts to trade near the 76 area then the 78 23 200 period moving average might become a target i think it's it's kind of tough to do okay with that said i've got another oh i said i do some let me do this um so this is the tlt as i said stuck in a range look lowercase h goes to a lowercase m we've seen these patterns before it says that the yields are stuck in a range moving slightly higher but until the 98 support area is taken out i think it'll just stay in this range for a little while longer and now i want you to show you so i have a question about um using techniques if techniques in the uh the what is in the range etc and what i can see is that i use this whichever methodology and it seems to do the do the job but i don't trade these commodities so it's a little difficult for me to talk about it other than on purely charismatic level i'll be back steve rhodes started his trading career as a student almost 20 years ago and the student has now become the master steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 finishing at number two for the year an amazing accomplishment steve rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering probability newsletter steve's award-winning newsletter mastering probability is delivered every trading day with updates throughout the afternoon sign up for steve's market newsletter mastering probability and you'll receive access to seven of steve's educational webinars absolutely free at tfnn all our newsletters come with a 30 day money back guarantee so 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investor you were born to be 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 before you get to the commodities let me show you Hummel Hummel Hummel was a very famous composer wonderful Hummel and Beethoven used to have piano piano else I don't know what you call it you know when you you have these competitions like saxophone players they have these these these combatants where they play outplay one another so Hummel and Beethoven used to have these pianos one would have a tune and the other would improvise etc. Anyway that's not that's h.u.m it's humane ink in the stock market so it's kind of stuck right now you can see in the monthly chart made a peak D I have only a plus sign I don't have a down arrow because the nine is still way over the 14 that's good and I think it's just stuck in range it looks like bonds just stuck in a range going sideways here say 505.21 down 591 you can see the weekly chart I have the two fighting patterns the cup formation and the rectangle and the arch formation all you've got really is a rectangle it's just stuck in the range and that makes this support an entry point I would hold off even if it balances I think that 200-speed moving average of 501 is such a magnet it'll keep coming back there so the the best thing I could say is looking out the lower range says if you can get the low range below 500 preferably in the in the 490s with a with a I'd still have a stop of 5% or 10% something 500 $500 stock I'd have at least a $7 stop okay if you want to get it in that range one quick dip underneath and says at about four right here at 497 I even put a stop at 492 the low that was made in the 30th because when it gets to the low range it it attempts to go to the upper range but this time it only went half just a little more than halfway above so that makes me a little nervous I personally I would hold off so if the question is looking for a good entry point a good entry point I would still treat as a split I'd even have it as a three-way split I'd have one that I'm getting in the slower range in the in the 500 to 497 area and then I'd have to let that play out and if it plays out because you've got it and it actually is moving high and it goes to 513 then I'd say okay maybe if you want to add because it looks like it wants to go to the upper range of 523 but at this particular point I'm not even ready for that first tip towing in I think it's just this uppercase a this is a pattern that can turn out to be really bullish I'd rather see how it holds the 501 200 period moving average level and then let's look at it again maybe today's Wednesday maybe Friday something like that and that would be your first entry point and when I say this pattern can be bullish you make an arch formation and then a successful lowercase m and then it rallies if there is a close above the high that was made on the fifth of 527 65 527 528 so if there's a close in the close in the 528 that's going to be a really positive and say hey now you can go towards that 531 33 area all right but that's it I wanted to just show you this so just in terms of the commodity commodity let's go to wheat actually you know what I had this yesterday I wonder if I still got it it was a 10-minute chart okay so you can see what I've done here I'll do this just briefly because I've got it in front of me look at the way the e-mini is making lower highs and lower lows now I'm a little upset because I did I actually took it took a short I took right right over there I think it was sort of there yeah over there over there and then what happened was I made this the stop just a tad too tight and it got stopped out and I just I've been busy so I haven't been able to get back in and now look at it it's doing what I wanted I drawn in the arch formation I did this channeling inside wedge target resistance line and will you remember I said see if you can keep trend lines going because it's a remarkable thing how a trend line can suddenly wake up after being dormant for a while well look at this this was the target line it almost hit it three times already and now what we've got is it's going all the way down to the 4284 level and we're 4288 I don't know if that's going to work but what I have in the 10-minute chart is a peak F and I didn't have any alternative counter kept it as an F because it looked to me like the MACD was good enough to keep everything alphabetically going until we got to that tongue like a doji candle and it didn't seem to be an alternate count and F was it so we've made a cell signal in the 10-minute chart so let me just do this because I think I did it yesterday I wonder if it's still active maybe let me just open this up this is gold ah there it is yeah I had done this yesterday he has your cup formation there's the midpoint that I chose it almost looks like the chart we were looking at it was SGM or whatever that was for down in the den left side right side price time actually that's symmetry to the beautiful cup formation it's actually two cup formations and then it goes sideways pops to an E and then breaks down so within that context I'm just going to say so the pattern works let me see if this has gone to a peak D this is gold because we want to look at commodities so there's your I could this is easy I can make that's the lowest low bar right that's easy to do because historically when you look back you're always right A B C and there's your D and then there's this isolated Eiffel Tower move at nine o'clock this morning where something must have been said so you've got your peak D you've got almost what what would have looked like an arch formation with price symmetry right here going from there because yeah we can go to the midpoint and I would put in left side right side price symmetry look at that right there well that would have been perfect that was the low but it wasn't the low that would have been the target nice price anyway it demonstrates it perfectly and here's your Eiffel Tower straight up and straight down looks like an uppercase A and because it didn't take out that beginning point right there this becomes an E it's almost like that F that we were looking at a moment ago there's your E and that gets this inverted V shape pattern a little a little copy on top because I've used up my at peak D I've already used up the up arrow the down arrow so this becomes a red inverted V and now you come down sharply so now let's just look at let's do reach uh don't type it there type it over here I'll do this live right now so we're in the context of the long narrow rectangle uh yeah should I do all that now I'll just draw it in I don't really want to do this right now uh if it takes out if it goes to um a D above the trend line uh then so this is peak A peak A peak B peak C C1 C2 there's your D okay then it pulls back to halfway of the of the rectangle formation it takes out the left side low so all the techniques work I want to get something I can actually put notations in it uh is this one yeah okay so let's just go to the most obvious low so let's just say uh it's three in the morning and you wake up and now you want to do your analysis but you haven't been following it all night like a like a larry back that's a bit so we do um A to B right there you're looking for a D C upside what is it a C this J increments I'll be right back with these notations during the break the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market the us futures market and the shanghai gold exchange the gold report tom obrien publishes his weekly gold report every monday morning for subscribers consisting of coverage of the xAU hui gdx the dollar bonds the south african rand as well as 25 different mining equities with specific buy sell recommendations the gold report new subscribers get a 30 day money back guarantee so you have nothing to risk subscribe to tom obrien's gold report newsletter now at tfnn.com are you looking for a way to consistently add winning trades to your portfolio tom obrien is here to help tom obrien has been successfully trading markets for over 30 years a frequent contributor to td ameritrade network and cnbc tom obrien found a 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 markets 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 obrien'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 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 directioninvestments.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 four-side fund services llc this program is brought to you by vista gold traded on the nysc american and tsx under the symbol vgz i was looking for something i didn't want to hear from you to do something i don't want to do it with all the caveats that come with some of something that you're looking at by saying oh but that's the alternative i want to do something as simple and straightforward as possible so let me just show you something here i'm going to go to if i can find one where it's a little bit simple so within the chapwave technique regardless of looking at the notation is a peak a is a peak b what is it it just doesn't matter sometimes look what's important you see this 200 period moving average did i even care about the 200 period forget about the price doesn't matter what you're looking at right look it broke down from this 200 period moving average try to ready try to look at the magnet of the 200 period moving average can keep you just trading in a sideways move in the sine wave the rectangle formation forever this is going back look at this this is going back to i actually this is 120 so i don't go back i could go back further i haven't got it but going back to december of 20 of of no it's not december it's april the 20 yeah early april look early april that it couldn't get away from the 200 period moving average it doesn't matter what it is we're looking for peak d's peak a peak b peak c peak d of this doji candle pulls back peak a peak b peak c that's a c that's not higher that's a c and there's your d and it pulls back and it keeps coming back down and then finally it pulls away it can't do it it just can't do it a little breaks down it's got this arch formation with the lowercase h that goes to the lowercase m blop it pushes down and it pulls back doesn't matter what the price is doesn't matter what you're looking at here and look what happens goes into a rectangle formation now what you're seeing is that the 200 period moving averages has come down very sharply the price is getting closer but then all of a sudden it slides the i don't need the 200 period moving average now i just it's i don't need it but it's sitting there and it's saying when i needed watch what happens well it finally gets close and then it tags it well now it's tagged it let's see how long it stays there it stays there it stays there it stays calling it stays it's still there so the question is in the chambering methodology doesn't apply to commodities it applies to anything that moves because it is using moving averages it's using the price where as long as it moves up and down as long as there's an oscillation you can do the chambering methodology doesn't always make d e f an important yes it does make it important how you interpret it is going to be very important sometimes you get a long wait before you get that fine look yes your peak a is your peak b there's your peak c there's peak c1 c2 i would call that c3 i'd even say this is a c4 and then finally it retests it with a real test almost the exact price so there's your real c1 c2 it didn't make a d maybe it did buy penny but it looks to me like it's and look at the the technicals are holding much better on this rally and this rally says hey maybe i can break out but no you're using the chambering methodology which says a rectangle formation can last a lot longer than your patience and if you take out the midpoint of the long rectangle be careful because that could not any break the left the the base low of the rectangle but it could go one to one to the downside and then there's always it's when the speed is so quick it's like oh my god i forgot to say goodbye to harry so it makes a quick attempt to get back to to say goodbye and that's the big test and look what happens now it makes a v-shaped pattern all of a sudden the 200-period moving air which is your is your resistance so even regardless of notation there are so many things that you can look at basal can you look at the vixx index yes we'll look at the vixx index what i was looking at was a continuous contract in soybeans all right doesn't matter it didn't matter i couldn't care when people ask me to do it sometimes it's so quick because i've only got the break in which to do it i just look at the pattern i do notation then i look to say oh it's and then i don't know what the what it is or the price anything i've already done the analysis and then i can say okay oh it's a two dollar stock oh it's a two thousand dollar stock or it's a two hundred dollar stock doesn't matter all right so uh soybean acting very well right here look at the consolidation after two doji candles this is a good this is good because it's got the mac d improving the stochastic's improving you've got you went under eight ten percent in the stochastic now you're over so this is a buy signal technically i should say it's going very close to a buy mode because the mac d's already moved up but i want that nine period to cross positive i have to wait for that and if it crosses positive in leg a i said that's fine will it go to p b c and d i don't know but all the technicals the stochastic if that happens i'd like to see the stochastic to be upgrade to a buy from a buy signal to a buy mode i'd like the stochastic to be over 80 percent so i thought i'd just do that just to say it doesn't really matter uh what we're looking at so can i look at the vixx index let's do that right now um wow so look at this chart here of the vixx index in the monthly chart we were once in the eights and the nines and the tens and the elevens look there 10.28 8.84 back in 2017 8.856 i've always said the traveling methodology in the it doesn't work on the vixx index in the notations because it's an emotional beast it doesn't just base it on on other qualities so it can fail at a peak a or b or a c in this case china u.s rates back in 2015 and august it goes screams up to 80 53.29 china plus domestic issues etc and higher yields is always the same thing china all the china's been out of the news lately corona virus peak c and then it fails another interest rates peak c right there that was 85.47 march of 2020 uh you remember we went long uh in fact we still long some things from there so here we go uh so it's it's failing and what we're looking at here is this is an arch formation taking out the left side low and the left side low is 14 point temperature remember i don't like to use this chapter in methodology on the vixx index i do the notations etc but what i do is i've got a very long term this grayish purplish dash there's line thick line at the back that's just telling me where we've been at different times and now for the first time it looks why we haven't closed the month it's not even halfway through the month but so far we're underneath sharply underneath look the last low was at 14.10 back in june of 2021 we're now june of 2020 two years later and we're 1410 and the low so far is 14 it's 1390 so we've gone under it so that just says to me that there's buying pressure coming into the market but over the last couple of years i've i've said my my the reason why for my chapter we've trengage i don't actually give the price that's the only thing in all my work that i don't make public is the numbers is because i think those numbers are going to change just as the vixx index for me used to be absolutely under 12 and then under 10 was very important it all changed with kovat so i don't i at this place the numbers are changing but it's interesting that we're back into areas that haven't been for a long time i'm also beginning to think we're becoming a little bit more vulnerable in the next week or two i do the way i'm looking at this stochastic so i'll be back in a moment thousand thirty eight entries down six uh bowser chapter type conditions are we have exciting news tigers this june tim ord of the ord oracle will be hosting two webinars providing insight into his renowned market timing methodologies on june 8 tim will delve into the smp 500 teaching sentiment indicators identifying market bottoms and divergence and so much more on 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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 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 hello so look at that eiffel tower the pdf in the in the dojo candle a long leg of dojo candle the temperature and look at this this is what i say keep the trend lines in place every once in a while they just keep coming up and here we're always within 42.75 is the 42.77 is the target of this particular trend line here we're at 42.81 isn't it that's really something so this is what i'm looking at here the dow is actually moving quite nicely higher the enph yes it's filling the gap tomorrow i'm going to take time and i'll talk about gaps i hadn't written down for today but i'll put nph in that in that in that area gaps good okay so what we're looking at now is that the dow is stronger and that's what i've been saying this rotational market is so important to have this rotational market you've got the dow a little bit stronger it's up 49 but look at the s&p the s&p is pulled back uh to minus eight it's still a new higher height i've got a leg f this could be an alternate count we don't know yet and the qqq pulling back is not even deeper down almost three but it's been spectacular apple let's see what apple's doing apples it's down 55 cents so a couple of things going on i would like today for the dow to close higher i don't care whether higher than the s&p in other words i'd actually like to have those positive just to digest the faith but it's really important it's off to the Fed dow whatever there is a basic interest rate it might be important just for the day but i think that we still have enough momentum to keep going higher but i'm beginning to look at this say you're getting closer and closer to a leg that says it's good