 The following is a presentation of T-F-N-N. Trade, what do you see? With Larry Pezzavento. Toll free at 1-877-927-6648 Or internationally at 727-873-7618 1-8 Now, Larry Pezzavento Hi folks, Basel Chapman here, sitting here for Larry Pezzavento and listening to that music. You know, rather, rather have Mozart manager Figaro than the Mozart Requiem. Right now we're looking at the chances of testing all-time highs in many of the indices very likely within the next day or so. We have, in fact, in the spy already made in your all-time high. The S&P is down a little bit. Hasn't got much to go to do that. The Dow missed an all-time high by about 90 points yesterday. This is going to be very interesting. The Q's also very close. That's the NDX100. Well, let's run these numbers. You're looking at the Dow. Just for the moment, I'm going to go to the futures because this is pre-market. It would be 9.07 a.m. in the morning, a decent time. Made a fractional new high overnight in the YM. That's the continuous contract of the Dow. 27, 380 was the high. Let me just double check because that gets smoothed out. That gets changed. Yep, 380 on the 15th of July plunges down to the 25,000 level, rallies back up over 2,000 points to 27,000. Right now, 27,253 up 69, but the high today is already 27,312. What is that? 68 points away from the all-time high. 61 for making a new all-time high. And you see this V-shape. This is what I'm looking at here. I believe there's a lot of resistance, although the fact that there were resistance levels that held back the market for a couple of days, for about three, four days, and then started to break to the upside, absolutely determinedly, because every day the buying pressure was so strong that any resistance, especially the last half hour to an hour of each day, you've seen some really good moves. That's saying that fund managers were actually putting money to work for the next day, and that's really important. So as I'm looking at this, we are actually in a situation where there's a cup formation. You usually at the previous high, if you don't spiral right through it, starting to at least two out of three bars, in this case two or three days, close decisively above the previous high, to really establish a decent low just below that high. If you stall at this level, that can create some kind of a cup and a handle formation with another little tiny cup coming up. And that's exactly, and that's kind of what I'm thinking that next week we're going to have a lot of news events. And there's a chance that we start to stall just while waiting. And that stalling is going to see whether or not the technicals which are really strong in the daily chart, not so much in the weekly and the monthly charts haven't turned positive yet. That's going to tell me whether or not there's enough energy to have another big move into the Dow, 27,400s and higher. The S&P would be into the 3,048, maybe 3,050s or higher. And that's really what we're looking at. So let's run the numbers. In the Dow itself, let's go back to the cash index. We haven't opened, we're opening up in about 20 minutes or so. We're watching this little doji candle in this Leg D. I just want to do this quickly for those of you new to my work. In the Chapman Way methodology, I talk about only three patterns. Straight up, straight down, an arch formation and a cup formation. Those three patterns are throughout the market. The arch could be an inverted V and the cup could be a V shaped pattern, you're going from one level, you're rounding and then you're coming back and you're testing it. Or you're going from one level and you go down and you come right back up and you're testing that high. You can get a combination. And that combination says you can go straight down, you couldn't bounce in a pattern that I call an H pattern, lowercase H. If you take out that left side low with the technicals poor and you close under it for a certain number of bars, you're going to be going lower. If you take it out and close above it, that's a good sign you can run it towards the arch high. If you don't even take out the left side high, you can go above the arch high, you can even go back to from where you started. And it's the same thing for the inverse. This is the Y pattern. A reverse Y. On the left side, I call it green because when it goes from the left side, comes in the little cup formation, retest that and breaks to the upside, that's very positive. In the Chapman Way methodology, we're looking at at least four higher peaks by mode. By mode implies that you're going to make at least four higher peaks. I alphabetize them, uppercase on the way up, lowercase on the way down. It goes A, one penny above A, goes to B, pulls back, one penny above B, goes to leg C. Leg C continues until it makes a peak. You go one penny above peak C, start leg D, turn down at D. The fourth highest peak, other things can happen. You'll see how many times that fourth highest peak is important. Peak D on the 16th of July, at 27,000, 27,398, and plunges down to 25,339. We're in leg D with a little dogy candle right now. That's going to be important. That's a sign for me to say, you've raised your foot off the accelerator, you've got your foot hovering over the break because other things can happen at peak D. Peak E in the weekly chart goes down in a V-shaped pattern. The last V-shaped pattern went higher, quite a bit higher, from the 26,695 level to 27,398, 700 points higher. Let's see if this is going to stall here or go much higher. You do have an up-channel resistance line and that comes in in the 27,500. Let's go one step at a time. The monthly chart will make a peak D, a leg D. The moment it goes to 27,399. Just keep it as simple as that. And at that point, we'll see whether the MACD, which is still the moving average convergence divergence, this is the right chart, is the monthly and the middle is the weekly and the left is the daily. We'll see if that's going to cross positive. The stochastic gets being very good over 80%. I like over 80%. It's at 86%. And that'll be very quick. Remember, there was a nine-month consolidation between January of 2018, high, and the Dow 26,018, 16, pulls back to 22, 23,344. Rallys to a new high nine months later, 26,951 or October of 2018, Columbus in December smashed to the downside, 21,712. Rallys in nine months, it makes a new high and now we've had just one month and this is the second month of consolidation without making a new high. Looks like we're going to make a leg D in September. That's going to be very important. Now, let's get to the nitty-gritties of the others. I'll do them quickly. S&P right now. The S&P futures up four and 3,020 was the high yesterday. 3,027 was the high in the 27th. We went all the way down to 28, 22. Now we're back. This is not really a cup formation. This is a rectangle formation. I don't want to get into that right now. But you can see this green line right here is major long-term resistance. And that takes you to in the S&P run about 3,061. This is going to be a very important week coming up. We're looking at stocks like in Amazon, like the fang stocks. Only Apple is close to an all-time high. The fang stocks have been lagging. But you see these deep cyclicals like the United Technologies. The United Technologies trading at 137.97 right now. The all-time high is 144.40. But the last on the 25th is 138.31. It's in-leg D. And it's challenging that. Caterpillar is acting very nicely here. It is up 62. It's at the pre-market. We'll be looking at this. We'll talk more about it. And we'll talk about the grains. And we'll go through the commodities as soon as we get back. Question in the den about hogs. We'll do that as well. Basel Chapman sitting for Larry Peservant. To trade what you see, I'll be right back. If you're not currently using the TAS Profile Scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The TAS Profile Scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures, and forex. Heated by Steve Dahl, TAS understands that in today's technological world, the use of top-flight software applications and technical analysis expertise are essential to successful trading in today's market. You also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted the best way to use the TAS Profile Scanner to profit. This webinar archive is available for all subscribers immediately upon signing all new subscriptions. Also come with a 30-day money-back guarantee so you have nothing to risk. Start your subscription by visiting the front page of TFNI.com today and you'll find the TAS Profile Scanner link in the description. Sign up today. TAS Profile Scanner is available for all subscribers immediately upon signing up. You'll find the TAS Profile Scanner link in the description. Sign up today. TAS Profile Scanner is available for all subscribers immediately upon signing up. TAS Profile Scanner is available for all subscribers immediately upon signing up. Let's look at the December and October hogs. I have both. Can you tell me which one I should keep? Thank you. Ruby, the chart formations are pretty much the same. Let me just do this again. That's LHV. I'm going to go to LHZ. Let me keep my eye on this one. Hmm. Hmm. Hmm. Holding all the way through to December. You know, I looked at the commodity index. This is mostly, it's a mix. If I look at the DBC, that's mostly grains. If I'm looking at the, you know, let me just go to LH. LH is the one that I usually use because that's the continuous contract. And if it goes limit up again today, you know, Ruby, I'm I'm not sure that I would be looking at this as a hold all the way through to December. But if this double bottom at 60 is a really good positioning for a move that goes into late October, early November, and you're already out of it, that means you have to take up a new position. So HEV. HEV 19. Okay. I don't get that. I'm going to say to you, based on the chart patterns, I don't trade this. So I'm only doing this absolutely theoretically, and I would prefer that I was actually in the position to be able to give you the kind of advice that says with experience of being in it and knowing what it does, knowing what it does, if it's limited up, I cannot say that. I'm just looking at the chart formation and the weekly and that it's the price is the one that I'm really looking at. I would want to see if live hogs are going to trade if they're going to trade very well for six to eight weeks, I want to see this rectangle which was like it became almost like a fulcrum where it broke down. Now it's a basing pattern. If at any point in the next three weeks you see live hogs underneath 56.70, let's call it 50, under 50. Yeah, closing under 57. That's a problem. That makes this whole area very strong resistance. So I'm not going to be able to tell you whether or not which contract I should hold. I'd probably be saying if your profit is exactly the same in both, the one in December is going to give you a little slightly less leverage because the one in October is going to move closer to one for one and you're going to get a little slippage in the December. I'd probably say I'd stick with the October one because I think for me you're probably going to be out before then but if you're thinking this is a potential for a long-term contract and you can see that hogs can start to go to the 68.70 level. If they get 68.70, I don't think you're going to get your price that you got in recently. I think that's going to be looking good. If you think this is a much longer-term trade and you want to be in it for the longer-term stay with the December contract but if this is really more a trading vehicle then I'd go with October because you're going to get just not much but slightly better bang for your buck. That's really what I'm saying. So keep it in mind time is your enemy here time is your friend. On a short-term basis the narrow contract is going to act better and the other one will participate but not quite to the same extent but if you are holding and you say you know what I just don't think it's coming down to the level that I got in at and you feel comfortable about that then you want to hold it as long as possible and you'll look fantastic if in October at any point this is trading at 70 and you're in the December one you're just home and dry you don't have to put another position in. So think of it as a timing instrument. That's the best way that I can do that. Okay now the other thing that I'm looking at here is I just want to go through this look wheat. Wheat is acting very well it's up three and three quarters right now 487. This is the first time I'm getting a cup formation in quite a while MACD's good stochastics at 88% that's very strong that says that wheat right now I'm looking at the continuous contract has a lot of support is a 487 between 481 and 476 that should be a holding pattern and then it should go to DC. You see this little green line it's called the Chapman wave inside track repellent zone it's hugging that if it can pop right over it then the 200 period moving average of 502 in the daily chart becomes the pattern. Weekly it's spectacular we were actually trading the DBC the commodity index this is the ETF and we traded this very nicely for the grains and then we got out. So we aren't back in but I'm looking at it I think this is this right this looks like a little duggy at the tree look this is the right race in the right leg there this is much higher than it was at the low this is a good sign it says that we should rally a little bit more and then it should try to find some kind of a higher base and the same thing with soy so he's up so he needs a one three quarters at 897 if the soy contract starts to trade at 904 at some point within the next two weeks 914 becomes a target tremendous supported between 886 and 882 as I see it right now good sign and con as we say in Boston con con is trading a 371 and a quarter up for this is lagging a lot but it's turning into a 371 I would say that it turns the 365 one area into key support if it can start to get to the 384 level that'll be the best sign that the others should be moving ahead as well so that's that that's there I want you to look at CC I was asked about that this is a cocoa trading in leg D right at the 200 period moving average look at this beautiful cup formation see the commodities already moving here I'm going to talk about that in a moment in relation to yields etc but yes cocoa acting very well weekly chart is improving it's not great and monthly chart same thing with that dating chart beautiful cup formation it says that at 2.367 there's a good chance that if it gets to 2.40 it's turning to 2.33 area into very strong support coffee since this is that is so I'm doing all these commodities coffee trading at 1 at 2.45 down a dollar 15 should make a leg D over this big term of the stochastic at 87 and it should make a leg D going above 104.70 that was the high on the continuous contract on the 11 three days ago and it's making the hundred and 100.10 to 99.70 area pretty good support what am I missing a platinum I wanted to go to platinum platinum had a peak and it's consolidating look at the chart went above the weekly 200 period moving average I see that's the thing to watch and I dream the rectangle it's gone under the rectangle low so I'm low then that and this is now stuck in a range of between nine it's a nine sixty right now I would say nine seventy two is very strong resistance and if it takes out nine twenty five it could even drop to the nine twenty nine eighteen level this look at gold gold right now is up 2.40 fifteen oh nine up stuck in the low range of this rectangle remember rectangle formation can last a lot longer than your patience to keep in mind if gold's trades any day if it closes underneath 14.85 and the continuous contract that's saying this entire area of fifteen hundred and ten to fifteen hundred is going to be the resistance to monitor we've got a break coming up when we get back we'll be talking live markets Basel Chapman sitting here for the one and only tunnel. 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unconditional money back guarantee don't miss 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 thinkorswim for more information just click the thinkorswim banner on the front page of tfnn.com I am the host of the Tiger technicians hour every Monday through Friday market days noon to 1 p.m. eastern time and I'm also the author of the opening calls any newsletter very comprehensive newsletter and let's see here we've got bonds down a point and underneath you see this little dashed line yeah this is a 50 period exponential moving average and you see in the middle chart the green line here is the 9 period exponential moving average the black line which it touched today is the 14 period moving average I'm in a cell mode in the daily chart of the bonds the magnies very negative stochastic down at 8% going from the double that going from the over 80% level to 8% is a very strong decline and that suggests that there's going to be quite a bit more the weakness to come in the bonds as the stochastic tries to turn around from single digits tries to go back to the double digits and that says that the strong resistance now is yesterday's high of 162 and 9 30 seconds to the previous high that candle right there of 163 so that's going to be any bounce that comes here is that's what I expect and then do some retesting to see if a base can form most importantly my weekly chart by Friday Friday afternoon at 4 o'clock this afternoon I will this is now very close it's it I'm pretty sure that I'm going to get a cell signal I need to see the MACD cross negative and the stochastic at 85% go under 80% for me to actually put a down arrow I might do it before but for me to go from a cell signal to a cell mode in the weekly chart and if you look at the monthly chart you'll see there's a huge cup formation double top formation and that double top formation which goes to the high that was made back in July of 2016 there's a continuous contract so the price could change but the patent and the date are exact 164.5 was the high and the high and let's see the high last month was 166.25 and this month is 166.23 so there could be a peak C right here and what I call a Chapman Wave 2 bar reversal that there could be a move in the monthly chart in the 153s that's going to be the 9 period moving average make it kind of a handle pattern and then maybe start a move to the upside if the pressure around the world for lower rates continues America and bonds aren't going to be able to change that pattern because it's been forced upon them but in the meantime this is a very severe decline hey but look where it came from this is just an arch formation dramatic but look at the dramatic move to the upside this candle low right here of the 8th of August at 158 and 30 seconds it's called at 158 that whole 158 area that's today's low so far is 158 at 29 30 seconds so we're doing that and look what we've done it's gone 1 2 3 4 5 6 7 8 9 10 11 to our 13 bars to the right 13 days and from that low it was 1 2 3 4 5 6 7 8 9 10 11 12 13 14 days so it feels unbelievably dramatic but wait a minute it's a match you took let me draw the stuff I like to do look at the pattern from this low to that high to the doji candle look at that tiny little doji candle right there at the all time high at least for this particular chart and now look what's happened so that matches it's 1 day early from that high I didn't count that bar so yeah it's 1 day so that's green look at that so you go up in 14 bars and you come down in 13 so 1 day early and it took did it take it out well the days young the days young 158 30 it's already taken it out yes 1 we went to 20 20 30 seconds isn't that interesting I always say patterns match I love to look at the similarity this is the plum line you use this plum line right here look at this and what you get is let me move it over one bar there it is the plum line says that it felt unbelievable going to the upside what you had already gone for days to the upside in this case you've come down and you say oh my god but what you've done is you've just given back almost the same number of bars the same number of the same price in a matching time frame it's in crash mode that it breaks down so this was crash mode to the upside it's a chaplain wave cup and ladle a breakout that means you get to the left side high that was a peak D right here this is leg D and it's right through this cup formation and when it does that before you get to a D a peak D that is that's called a chaplain wave cup and ladle another cup and handle which stops this is right through in one powerful move it takes out the left side lip and it went all the way from that 157 area resistance all the way to the high that I said was 167 something 166 in 25 30 seconds alright so that's bonds and what that leads to is when money comes out of bonds when money comes out of stocks goes into bonds and you'll see bonds rally sharp in stock kind of hold or pull back when the money comes out of bonds that very often goes into stocks and that's the reason why I'm still mega bullish on the market but short of term I think we're getting to some kind of some kind of strong resistance that's what I can say question to them SPLK can I look at SPLK SPLK SPLK what is that Splunk oh that is Splunk Splunk has a little bit of a pattern that looks somewhat similar to those grains we were looking at it's trading at 113 I've looked at this before I used to had it I had notated I haven't got it now the fact that it's testing this left side low twice now and taking it out that's from the week of the 6 7th of June 2019 107 89 was the low last week's low was 107.16 and this is 107.45 the fact that it did it after making almost high arch formation and the techniques are still weak says to me that the turnaround with the stochastic going from the single digits to 30 percent and this thing only going from the 107 area to 116 yeah nine points but when you look at the whole spectrum this is not a very strong stock it's a weak stock so SMP I'm going to say I'm not looking at what the if you're in it I don't know if you're long or whether you're short I'm just saying if you are long I just want to say to you if it takes out the low of three days ago of one 110.71 it's just stuck in the range and it can keep testing the 107s it needs very quickly by Monday or Tuesday in fact that is up 57 the SMP is up 339 and this is down 78 cents says to me there's a lot of resistance I'm just going to say I would if you had to ask me would I go long or would I go short or would I hold I do absolutely nothing now I'd be looking at this and saying I'm not sure if it's a short right now I'd have to wait until a little later in the day now it's down to 005 so I'm thinking that it's there's a greater chance to do a retest of the 108 to 107s than to try to go to the 117 level by next week so I'm just saying just step aside keep it on your list if it's a stock you've looked at that you would like to buy let's see how it does for the testing because if the market turns out to be a little week next week WAK in the WEEK of next week then you just have to hold off but if it starts to rally when the market's weak rather than pulling back with the market because it's not running now with the market so I just hold off I'm Basel Chapman we'll be back straight off the city's Merry Christmas If you're in the CD market and looking for a secure investment the Tiger First Mortgage Program may work for you. 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I had a question about NVTA and Video Corporation and I made a peak C in the, well I'm saying a leg C because it can't be a peak C until September is finished, but it's a peak C in the month and let me just put that C in, the Chapman wave methodology, right there is your C, made a peak D pullback in the weekly chart and peak G, unusual peak G in that V shape, we're looking at a lot of these V shape formations, that's the pattern to show, and then it plunges from the 28th down to the 20th level touches 19 and now it's at 21 86. It came off the 200 period moving average. I'd say, well, what's the question? It recently came off, yep, they're okay. So I'm doing it backwards here, Jason wanted to know. So if you have time, can you look at NVTA for a long, it recently came off the 200 EMA and closed right under the 90 EMA yesterday. Thanks, Jason. So yeah, I like this as a setup because you follow these very closely, and there was almost like a one to one parallel move in the weekly chart, pullback. I like what I'm seeing here, because it came off a doji right on the 200 period moving average in the MacD and stochastic turning up and not great. So I'm going to say because you're always looking at the longer term picture, Jason, I'm going to say for you, start a position at 2195 right now. This is a starter position. Therefore, I would give it just the next two days. I'd make 2110 to 20.90 somewhere around there to stop on the position. Just give it a little room, a little more than I would normally give, but because the longer term position, I'd probably say 20.70. Give it a little bit more. So it's almost like a whole point or point in a quarter that you're giving it as some kind of a stop. Now what you want to see is that by Tuesday it hasn't taken out 2130, it's at 2190, it's at 22 right now, and you want to see that it's trading by Tuesday afternoon Wednesday morning. I want this leg A. It's a great leg A meaning it's way under the previous high, but I want to see this still in leg A and up at a 2280 or higher level by Monday afternoon or Tuesday. So that, now let me say Tuesday afternoon to Wednesday. Give it a couple of days. It's acting well. It needs a lot of work to help the weekly chart as the daily chart has started to balance and the other one that you were looking at is we had looked at it before SPG and I said start a little position at that point. I can't remember where it was. It's obviously had a big move since then. Can you do a follow up on SPG during the show? I'm long from 151, it's trading in 156.86, very nice. And change and looking to add to the position as the first buy was just a half position. Yesterday it looks like SPG bounced off the 9 EMA and the daily chart. Yes. I like what I'm seeing here but what I am going to do is I'm going to say to you the deepness of the pullback from a peak C says you might have to wait another two, three days at 156. It's up $1.54 right now. So because it's a second position, if it was a first position, I'd say get in now, but this is second position. I want a little more caution on the second position. I don't mind paying a little more if I feel that the stochastic is turning around from 71% to go to 75%. But I don't want to see a drop below 150. 54. And you're in at 151 so you got a really nice cushion. So I'm just going to say the ideal place for a second entry would be Wednesday to Thursday of next week. I need to give a little time. It's going to be much more difficult if it actually trades at 159 in the next two days. And then I'm going to have to say you've given up a couple of points, but actually now you've got more confirmation of strength and that weekly chart pullback says it's the starter position. I'm going to say Jason, hold off on the second position. Remind me again Monday Tuesday to look at it. But right now I'm saying for a second position that's way more confidence than I would have right now without it and it's gone from 145 to 163 in just a straight up move. I want a little more time. So on the second on the second position hold off on SPG. A couple of questions I had here. Let me just see what happened with the hogs that gapped up again. Yes. Oh, look at that. So now HG is copper. Copper is in a strong leg B. This is the first time we've had really powerful candles in the copper contract. Look at the MACD how strong it is. Look at the stochastic at 85%. First time I can say I like copper. I think it's closing positive on the MACD if this Friday it holds it's a 269 if we can hold above 268 into the closer even get a little stronger. That'll be the first really good sign in the MACD. I like copper. Yesterday I was asked about SCCO and I said SCCO Southern Copper. I said the target would be the 200 moving average of 36.14 today's high 36.41 giving some of that back really nice move. Yes, I like I think copper. This whole thing with a TRCCI let me see where that is right now. Look at that gap to the upside. TRCCI is the Thomson Reuters commodity equal weighted index really nice going to the 200 moving average of 397 trading at 396 right now. I like this. I think this is the commodities are becoming active for the first time and that says I've got to watch this dollar because the dollar pulling back is as long as it doesn't break to the 99.50s. The 99.37 was the last high. For just the 99.50s that might impact the commodities again but as long as it's holding sideways consolidating in the weekly chart I still love the dollar. I think dollar is the Thomson of commodities of currencies. I don't mean the company I mean the icon the American icon of Harley and that's really what I'm looking at. I like it and it's just digesting huge gains. You see with gold is right now gold was up before it's up a little more at 5.4 it's stuck in the range. I'm actually going to take this rectangle right here I'm going to I'm going to make another one inside and say this is this is the more shorter term one that you're looking at right there. I'm going above 15.20 would be very positive short term I still say it's stuck in the range is digesting huge gains and that should continue my target for the GDX is the 26 is 26.04 was the key support back in late August. It ran up to 30.96 I think it's making an art formation like the TBT, TLT so the TBT which we almost had as a buy my former subscribers decided not to do it. I'm not sure why decided not to do it because it really looked like it was building strength with the TLT starting to make a top comment was Paul says, TLT set to open a 138 which is below the 50 DMA I use the EMA but it's the same thing so the TLT is under the 50 period exponential moving average. Paul uses the DMA and I'm not sure it doesn't matter whatever you use just be consistent with whatever you use and this hasn't happened in six months I guess no big deal he says no it is a big deal of course it's a big deal everything's a big deal but you're talking you're talking crash and bonds I don't see a crash and bonds not yet I do see one later and then I think yield stock is really scream higher but not for a while that's just my opinion and that's your opinion that's what it is in the market now I want you to look at a couple of things if I skipped anything I did the bonds I did oh Crudo Crudo right now is down 14 cents at 54 96 remember I love to draw these rectangles they're so easy you just grab your little drawing tool if you have one and you just put it in here and there's this rectangle stuck in the rectangle formation and a rectangle formation can last a lot longer than your patience you can pop the weight the pull the magnet of the whole middle of this it's really an issue it's in the 55 area so it can go back and back and forth if there's really one I'm watching that Crudo is staying arranged for another one Basil Chapman Sydney for the next presidential we've got one little segment to go we'll do a wrap I'll talk about the mark as soon as we get back I'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trade that we Tigers and Tigers if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of mastering probability and for the last 12 months Timer Digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6 and 3 months Timer Digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do sign up for mastering probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too sign up today if you haven't checked out the newsletters page of TFNN.com what are you waiting for all of the TFNN newsletters are informative up to date affordable and must have for every trader looking to gain a competitive informational edge in today's markets. TFNN newsletters cover every aspect of the markets to offer you the very latest in market news plus new subscribers get to test drive our newsletters risk free for 30 days from all aspects of the markets including stocks, bonds, metals commodities and tech there's a newsletter to fit your needs exclusively from TFNN stay informed each day you trade and get the competitive edge that will help you stay ahead of the game visit our newsletters page by going to TFNN.com and click the newsletters button near the top of the page TFNN.com educating investors since 1984 Basil Chapman has been using this methodology to advise traders of his expert market opinion while originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of lakes to the upside before declining sharply later Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a 2 week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com cancel at any time during that trial and pay absolutely nothing get your 2 week free trial to Basil's newsletter the opening call today by visiting TFNN.com for more information just click the thinkorswim banner on the front page of TFNN.com Hi folks so in my show the tiger technicians are coming up at noon today noon eastern time to 1 o'clock I'm going to go through a number of questions I've got about certain stocks like square and such which is very disappointing acting very poor SQ is a symbol so let me just do this quickly the Dow has an all time high of $27,398 it came within less than 100 points of it yesterday I believe that it should try for that but at these double tops you've got to be a little cautious because it's like a barrier remember the left side right side price time match comes it actually comes in to Wednesday what's today so it's got 1 2 3 it's got about 3 more sessions to try for $27,398 to make it match with a plum line from the low of $25,339 on August the 15th so that's key the spy did make an all time high yesterday and another doji these little doji candles are really the hints to say that the momentum has changed just for that moment if it then breaks out to the upside you can get an equal move from the last trough to the next high or vice versa on the downside but this is where I start to watch things very closely the magazine is suggesting that there's still tremendous strength but that could be support rather than actually extension to the upside today should have been a nice move to the upside with new highs so far we haven't seen it so I'm thinking next week we're going to have a sign to say do we break out sort of brand new move to the upside with completely new levels in the S&P the down the cues or do we stall and just go sideways trying to rebuild strength going to be very important so keep that in mind I'm not all in the fact that the TLT is down at the 138 level 10 points lower than it was but we just did the match on the left side to the right side no big deal there what will be a big deal if the TLT actually breaks 134 support next week for whatever reason that will be a big deal okay IYT the transportation index is soaring it's still way under the all time high of 209 but it's trading at 195 today and a very big spike and now it's pulled back some but I like to see the transports moving with this is not Dow 3 but moving in the line with the Dow itself I'll be back in a minute otherwise I have a wonderful week this is Balanchep and sitting for Larry Perzevento and just best of you all have a great day and I will see you in a few hours otherwise Monday's the new day have a great weekend