 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. Everyone, Basil Chapman, this is the Tiger Technicians Hour and we've got a lot to discuss and I'm going to go through them based on the Chapman's methodology. What I'll be looking at here is that the Dow had made a leg E230, whoops did I, I didn't update that, let me just do that right now, made a move to 33,006, was it 51, let me just double check, oh no it was 3336, if I remember correctly, no that was the close, yes. Now the price at the high was 33,651, so this is absolutely fascinating to me. This is normally over all the years for those of you who've been listening to me, Basil the Chapman wave, when we get to a leg D, I start becoming quite cautious, it can go to an EF and even a G, but this is where the yellow light shows and I'm ready to start an inverse short. I have not done that yet, what we have done is we've taken another little bit off of our long position, I think today's little bit off was about a 9% gain, single one-to-one on the diamonds, and here's the reasoning. You see that we've gone to a leg F in the Chapman wave, let me just do this because now we've got so many people listening to various shows here at TFNN, such a big increase in listenership and certainly a lot more people are now starting to use or are aware of the Chapman wave methodology, it's only been 20 years here at TFNN but it takes a little time sometimes. I try to identify the lowest low bar and then it goes peak A, B, C, D, E, F and G, 7 higher peaks but it's at the 4th highest peak that other things can happen. Well we've gotten to the 4th highest peak, a little dojo candle underneath the 200 period moving average, spent a lot of time on that in my webinar on Wednesday, the webinar that I did on Wednesday was not for a particular day or month or year, it was the Chapman wave methodology, so that all the techniques that you can come to, there were a lot of people that said to me, oh I can't make it, or I've had COVID or whatever it is, I just can't concentrate long enough, I want to do it but I'm going to do it when I get a chance to because it's archived, you can go over it 100 times, whatever you want. So I see to them, I'm making it, this is going to be out, we won't just do some trade positions to show, but that's not the issue, the issue was I wanted, I announced it as a Chapman wave methodology and that's what we did. So one of the things we spent a lot of time on, you can see it right here on these three charts, daily, weekly, monthly, are the patterns, the patterns that repeat over and over and over again in every single chart and every single site, fractals, why because it's human emotion, remember the stock market is a cumulative emotional price point in time, that's all it is, and when people say, oh but you got the computers, even that is generated by human beings, eventually even with artificial intelligence, it is still promulgated on the premise of observations mostly based on observations in the market by people that are actually programming. So what we're looking at here is that straight up, straight down, one pattern, a cup formation or an arch formation or two other patterns, so they're just three patterns, either up or down, cup formation up, go down and then back up, an arch formation down and then up and then back down again, or mix straight down and then you make a little arch and if that arch takes out the left side low, it can become what we call a dreaded H because you can go very sharp, you're lower, usually it fails at either the first or second peak and then takes out the left side, and on the right side it's the exact opposite in a reverse Y pattern. Alright, so within that context what are we looking at? We're looking at, right here, a pattern that I discuss, the narrow rectangle and the wide rectangle. The narrow rectangle is where you get a price, it goes up to a certain point and then sharply comes down and then starts to make higher highs and basically higher lows, but mostly higher highs in a stair step manner and it works its way back to just under, right on or just above the previous high, that was 33,272 and at that peak D, the doji candle stopped dead and then it pulled back but instead of the chamois instant restart that says within three days, if there's a new high, you can have an instant restart which could take you to a whole new buy mode of another four peaks higher, this didn't take out that left side high, it took one, two, three, the fourth candle did it, not the third, so therefore it could do the same thing but that's not the principle. The principle is it must be within three bars to be an instant restart. So now we've got a peak E pulls back and yesterday we made a leg F but look, the magnees strongest, the cascades at 87%, the unbalanced volume in this particular chart, when I close it up like this, you'll see that the blue unbalanced volume is becoming overbought and I usually use it on a close-up basis, so this is starting to become overbought. So why did I not immediately say, okay, we're going to take profits in our diamonds and we're going to switch to the DOG one to one short, it's because I'm not ready, look, when you're doing time frames, you look at all things, well, the 200-period moving average which was tremendous resistance back in April the 21st when it went to 35,492 before that huge move down to 29,653, well, we're above that now for three sessions, well, even today if it closes below 30,000, 163, the 200-period moving average, it's still been above for the third session. That is a good sign at this particular point. It's also heads up to say, hey, it keeps fading like many of the others of the indices, so just be a little careful, so that's why we gained, took a little bit off, just a tad means this is a small part of our core position, and we've done it a couple of times. But wait a minute, this is the third week, even if it closes below 32,300 today, which is almost impossible, and this is just a horrible, horrible set of news. Most probably it has to be not even economic news, just bad news. We're above that for the third week. Well, before we were there above the trendline, the Chapman Insight Track resistance level for four sessions, but we close horribly lower. This is the third time and it's pretty good. So that says, for the first time, the Magdy, look at this, the Magdy deflated lower before, now look at the differential is way above the slow moving average, 26-period moving average, red, and the histogram is very strong. The stochastic is really moving strongly high, it's up at 60%. The on-balance volume is just flat, that's a negative. But we're within fractions of the, for the first time, the 9-period crossing over the 14-period of the weekly child of the Dow. And look at the monthly, we're about to tackle for the very first time in the sequence, look, three bars, and that's a high. Now we've got one, two, three, four bars, and it's testing this high, it's almost a symmetry there. If any time in August to September, we could actually hit 33,000, or maybe 800, 900, you're out of that trend line for the first time. So that's why I'm saying, I didn't want to get too carried away to suddenly go short of everything, I'd rather take some profits and see what happens. And you can see exactly the same thing in the S&P, this is for dinner, potential chap rate is to restart. So this could be F slash C, so F slash B, and the weekly child is out of its, out of the system. I'll be back in a moment, PuzzleChap and Dazzle Pondrinity. Vista Gold owns and operates the largest undeveloped gold project in Australia, the Mount Todd Gold Project. Vista Gold just completed their feasibility study, resulting in a 7 million ounce gold reserve. Vista Gold has all major permits approved and has retained CIBC Capital Market Assistance in evaluating alternatives and in completing an accretive transaction. Vista Gold trades on the NYSC American and TSX under the ticker symbol VGC. Vista Gold executing a strategy to create shareholder value. 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 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 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. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from veteran day trader Larry Pesavento on stocks you need to pay attention to and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First time subscribers also get a 30 day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com Educating Investors. TFNN has launched the Tiger's Den hosted at Discord. TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours. The Tiger's Den available to all Tigers and Tigresses for just $1 for the year. There's no catch or at a cost when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com toll free at 1-877-927-6648 internationally at 727-873-7618. Hi folks, I want to speak just a moment now because this is the technique that I use all the time. This is what we do. I want you to be able to see it. So what you're looking at is within the context of the S&P, this is the third session above the 200-period moving average. Now, you see this peak D here with the tiny doji is called the silent doji in the Chapman methodology. It's hinting that you could have a little bit of weakness there. Well, we were weak for another day. And then the third session, it breaks above the high of peak D, goes to leg E, and then pulls back but doesn't even take out the left side low that made that peak D trough. So this rally, the mag D is good. The 9 is way above the 14. The undone volume is completely different to the doubt. It's very weak, but the stochastic is flat at 88%. What is my rule of thumb? Over 80% and holding especially close to 90% is what you want to see. So far, the upside still remains intact. And I wouldn't be surprised if there are a couple of days next week where we just pop modestly. I think this 200-period moving average is going to be a magnet. We're going to be tossing around that in August, the rest of August for at least next week, messing around between that 4187 200-period moving average as support, maybe even resistance if it goes below. And we might make a G or with an alternate count and then even make another D. But I don't think it's going that much higher. That's the way I'm looking at it right now because of the magnet of the 200-period. Look at the QQQ, something completely different. Why? Because as you peak D and there's a chance of an instant restart, so it goes E-A, remember that's the rule of thumb with an instant restart. If it's still very strong you just continue the alphabet and then you have the chance of an alternate count. It's not saying oh my God it can go up and it can go down. No, it's saying it's going up but I need to be aware that you could run out of letters when you get to G because there's never an H. So now you are. You're at G and that says there could be one more pop either today or if it's today and it goes above 330.36 that extends leg G slash C. But if it's on Monday or Tuesday then all of a sudden you've got yourself a D just above the 200-period moving average. All the things I've been talking about for weeks and weeks, how that was a magnet, how there was this beautiful cup formation, how there was this rectangle that could take you above it. Everything that we've spoken about based on that I mean what an example for Chapman Way methodology and even here you've got the chance of a Chapman Way instant restart and that just says that this whole area of 327 where we're at right now with the 200-period moving average no matter how high we go over the next maybe week or two this 200-period moving average has to at some point either become a propellant zone or a magnet because it pulls back the price and if it goes under it it says great now you know that you're either going to reverse very sharply and pull away the further you pull away like a 318 317 that's 14-period moving average supporting the QQQ but at this particular stage it just looks a little tired fantastic action but it looks a little tired it's getting to the 330.29 high that was our target our second target because we've been long via the 300-percent long positions we've taken some off took a little bit today for a 40 percent gain in that position for on the 4th of May at 330.29 it pulled back to 69 on the 16th of June ran up and it's almost like a price beautiful price moved to the right side number of bars on the left to the right and it goes to where 330.38 I mean no 3 330.36 seven cents above it took from May to August to come all the way back down in a beautiful cup formation I actually took that away because it was getting a little messy I'll put it back here because I'm visual and I need to see that so from this high I could even go to that high but look at this beautiful cup formation this is the bigger one there's a smaller one within it and there it is so it's done everything it needs to do at this point I think it's going to start slowing down but this is where I'm saying for subscribers this is where we see a rotation from some of the the NASDAQ type stocks that were just hammered that are now going to show some strength on any weakness that when you see maybe a Microsoft source to pull back but you'll get something in the former winning stocks of the month it's just a good zoom for the month we do not have zoom I'm just looking at that yeah zoom's had a big move from 79 up to 124 almost a double and now it's taking a breather it's in leg C so that's a little but it's the same sort of thing because that was helping the NBX 100 and ARKK innovation fund move higher all right let's get back to our story so we did the QQQ and I'll do the IWM and then I'm done because there's a bunch that I want to show you this is now also got Chapman Wave instant restart let me always put a yellow circle around it it could fail but it tells you hey be aware there's another one of those proprietary Chapman Wave techniques that is applicable only to this particular technique I mean nowhere in the world you'll find me I challenge anyone in in the entire world find another technique that takes you to a peak D and if in three bars it goes to a higher high could give you a brand new buy mode to go to another four peaks I mean you know that's the way it is so I'm just saying this is one of the things I found discovered trial and error a very expensive way to find things out but that was way back when I was hand charting and this is what we got so the IWM is actually showing a little bit more strength than some of the others just in the visuals of the chart and that's the Russell 2000 right let's just do this quickly it's a gold gold is okay it's made a peak D how how important is the peak D in the Chapman Wave methodology it's where you raise your foot off the accelerator hover over the brake and say wow anything can happen from yeah it could continue it could stall this is where you that's at moment where the light flashes yellow and you just say caution well you know we're talking about this we're talking about this yesterday in the den we had someone mentioned six six flags I had looked at six flags for a while low and behold what did six flags do it had a peak D it did all these techniques we're talking about it had a peak D high six flags entertainment at about 26 and the next thing maybe earnings came out is downed it it undercuts 20 now it's bouncing back at 22 I saw something else go by this morning which I hadn't looked at for ages and ages and it just coincided it was coincidental to Tommy talking about in the show market kickoff he was talking about water but he was talking about water because of the ecological conditions I've been talking about water for years saying the big thing in the United States someday will be the conflagration between the states because of water you talk about animosity going on right now it'll be nothing when that happens can you imagine because that's your bread and butter right or water most importantly I quickly grabbed a chart that we once had fabulous profits in and for some reason I've just not found that I wanted to put our money back there but it had a fabulous move from just under 11 to just over 12 into the 13 area this is MWA Miller water products um look at this it goes to where a peak D I grabbed it because once I heard Tommy and this is it's a fabulous show the way he puts together all the fundamental stuff and then he and then he puts the numbers together on the earnings of the different companies I love that because it's just something I never do and I just I like hearing it because it's very important okay so Miller had a peak D about a week ago at just over 12 and then it cascaded after that deep it went down from the from the 13 14 level to 11 round number low and now it's trying to bounce how about that for a peak D drop I'll be back in a moment dows down up 100 sbs of 24 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 XAU 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 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-its-kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including gargleys 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 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 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 and in the den a good one i was doing about six flags entertainment and hb says got down to three flags yesterday hey good one good one good one okay so we're looking at ford look at this retracement back this is exactly the pattern when i was doing my webinar the other day we saw in the e-mini and i said this can go this was actually it was actually a little longer than this but i said this is the retest howard retest ford made a high it's incredible it's gone from 10 61 on the 5th of july on the 3rd of august less than a month later it trades at 16.15 i just have to type that in here 16.15 and make it light because it's not that important it's only a peak c it might be a c1 the c2 but in the meantime that's what it is you see this is what you want look at the 200 period exponential moving average is down to 14.82 we've traded above it for one two three four five six seven eight nine ten what it's saying is that instead of becoming a magnet it's become a propellant and that the 14.80 is to maybe just a little lower you could go to the the 14 period exponential moving average maybe down at the 14 maybe 14.80 maybe even 14.40 area that should be an at least an attempt to find support and it's the general market really pulls everything down so what i'm anticipating with this particular pattern leg a in the weekly chart is that there's a really good chance that that 10.61 low will hold for a while and that the midpoint in the 13 to 12.80 area that's that fulcrum over there that peak b should become an absolutely key support and to go with that 13.91 is for the very first time it's friday afternoon is coming up in in what four and a half hours and you've got so far l that means long that means that the that the pink 14 49 period moving average is about to move above the 14 period black 14 period moving average that's the first time it's done that since it broke down back in about february march back in the 17 18 area and plummeted down to the 10 10s so now this is the first time that we're getting that kind of action the mac d in the weekly chart is improving the stochastic is improving and i say to myself wait a minute if things are that bad why are we having even if there's a rotational correction this is on the upside i don't want to call it a rotational correction to the upside meaning you're correcting an oversold condition by moving higher um but whatever it is this is this is telling us that within each sector try to find the winners and stay with the winners that's what i've been trying to do just the last two days we've got extremely oversold stocks i would not say extremely i mean they were at lows after making all-time highs um and so we've added them i'm a little worried because we've got a little too many positions now when i get to a certain number it's always it means that you're just about to get to some kind of a consolidation in the general market but i'm treating these as rotational and that they could maybe hold up as some of the others start to pull back that's really what i'm thinking now let's get back to our story and the story is that fort is holding very well the question came in where would you add to fort i'm in it where would i add i didn't say where you're in it but let's just say you're in it in the 13s or maybe even just a tad lower between 12 15 13 i don't know i would do this i'm waiting for this leg d to add to a position right here it means that you're going to if it starts to pull back from 15 almost 16 down to 14 80 that's a big percentage and that's going to mess your percentage up on your core position i would much rather say look i'm in the position is doing really well if it gets away from me on the upside it's not a position that i can complain about it's great except i don't have as much as i want so this is what i'm going to suggest to you you can either split a position right now at 15 96 and say 14 82 this position has two entries one at 14 97 where we are right now knowing that you could pop a little bit but within by tuesday wednesday next week it could be quite a bit lower and then another one down to 14 80 level well 14 18 is only a point but it's a point it's a percent a decent percentage down so that's an add to if it was your starter position i have a completely different thing but you're already in it so this is what i'm saying you could i personally would wait until next week because 50 to 60 points on a 50 to 60 cents on a 16 dollar stock is actually a decent percentage but and i don't know yet if i can even extrapolate in the week you to say wow this single leg a even if we pull back a third should make at least a half of that gain to the upside taking it to the 16 80 17.35 area and then you can start to talk about the left side right side price time match or i don't want to get there just yet and that's a high of 16 57 so there's a lot that we're looking at then you go to 6 17 did i say that correctly that should have been 17 80 i'm suffering that was wrong 17 80 and then 18 25 so you look those are the numbers that i just mentioned earlier on so i i can't go there just yet so i'm saying as an add on i'd split the position right now nibble here and then but i do want to at least split the position that you were going to put on into two parts start here and have one a little load down and if it gets away from on the upside that's great now you got one and a little bit positions that's that's a nice way to look at it so that's the way one way to do it now the big thing is this these single leg a's become i didn't even discuss this on wednesday didn't come up at all a single leg a up failure pattern i did mention when i was talking about the ifill tower that's when it often happens i don't think that's the case with ford i think ford because they can raise prices on the on the cars that they're selling even though they're not selling as many as they want i haven't been to a dealer just lately i had gone a little while ago as an experiment i went and it seems to me that they could ask almost any price they wanted and you either wanted the car in this color or forget it call again in another or put it put your name on the list so they're really in a good position that way but it's much better for them to have a good inventory and be selling knowing that that inventory is there this way they don't know what's going on all right that's enough of thought next question i had was where was it where was it um could i look at oh yes thank you for your analysis there thank you for your analysis the other day in the webinar um i had a laugh because you were talking about the chaplain wave stalk leg formation that it can go one to one to the upside have you looked at the stock you were talking about the other day so the question uh all corresponds on the other side i've got one that said can you look at the xlf well the xlf is the s and p financial uh spider fund i love the fact that it's gone from uh about 30 to right now it's a 3510 it is a fraction away from the 200 period exponential moving average it hasn't even visited the the close to the xlf has not even visited since it broke down back in april i think around about the 20th 21st april 21st 38.32 plummeted down to 30 point what was that low and 30.37 on the 14th and here it is five points high that's a nice percentage gain to me that was really important so trying to think oh oh stalk leg formation i remember that that was one that we actually own which is bank of america bac bac yes i'd said this is exactly the technique that i talk about chaplain wave stalk leg formation there's the leg it looks like a stalk there's the oval body you wonder how it can stand on one leg because it attacks the other leg again and then that was the neck that i drew in and then why we were in the webinar i i it spiked up like that i said this could come become a one to one the stalk leg formation go one to one to the upside and learn all this is a stalk leg formation went to a one to one propeller shaft suspension i'll be back there's a 105 smt of 22 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 chaplain creator of the trading methodology known as the chaplain wave the chaplain wave up-down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by basal chaplain in your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors technology around us is changing every day with so much happening it can seem impossible to keep up with all the information paper whites 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 valued tech stocks as well as entry prices target prices and stops to set for each trade david delivers his weekly newsletters every friday with updates throughout the week you can get the technology insider at tfnn.com for only 37 in 50 cents 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 chairs 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 foresight fund services LLC this program is brought to you by vista gold traded on the nysc american ntsx under the symbol vgz the tiger youtube guardian mentions i l m n uh double top that's alumina ink symbol is i l m for mother and for nancy and it went from a low in the 170 area to peak a peak b peak c peak d and then it just pulls back and makes a quick entry into e at 236 and here it is uh making a low today of 199 big plummet from that peak e top and i wanted to show this i just i used to have this all notated i don't know why i've lost my notation on that it's there somewhere but i don't have it this was making a cup formation almost like an inverted head and shoulders but if you look the stochastic start to fail at that peak d then the mag d has only just is about to turn negative it hasn't yet the on balance volume was weak and the relative strength was fading so that was a clue that as it filled this gap that was back from june uh around about two in the two in the two teams in that area it filled that gap very nicely it um those all it did in fact i'll do this one i'm talking about let me just show you one of the techniques i would have used and let's just imagine i had no idea where it was going i would have said my eye is telling me that i could go from that high to this particular level initially but then my eye from this particular point says is it's still weighed down i have to go to the low and the low here is that actual candle low the doji silent doji catch up wave silent doji candle on the uh on the 13th of july and on the 14th it makes a low of 173 43 and then what i'd normally do remember you don't have to have the rectangle everybody has a trend line you can just take your trend line i i change color you don't have to change color you can make it just a different pattern just go uh new power on you can make that i make it green always but you could make it green you can make it dash line on the right and nothing on the left and i put that in and it says you know what now i use my technique that i discussed on uh wednesday to to find the chapter inside wedge target resistance line well it's a very slow slope i always had my protract in front of me my eye says it's at about 18 percent or something like that 20 percent maybe a little more 24 percent um well that says where would it go so i would do this and i every day i'd extended i say whoa it almost made it to that point um maybe i should have used the initial one that i was talking about right there that was this particular peak right here and see does that join in to the trend line that i'm matching because i need to always i i need if it's not an exact cup low i need to know that i'm doing the correct analysis because it's at this particular point it's autistic but it's always the same principle so then this one is the one that i would have used said maybe that was just too i was a little too aggressive and look what happened it went under it didn't even get there this is the line that i was using so that's how i would draw did it fail yeah but you do your best you can you did your cup formation look everything was matching but it just took too long at two it was too uh it'll be labored to get there so it failed and now it's pulled back so that's a technique that i would use in this particular so it would be just the guidance but i didn't need to use it what i would need to use is this beautiful up channel with the chat wave inside track repellent zone and it got right it repelled right at that zone so here we go next question was where did it go um how about all the v-shape and instant restarts are always the most difficult to understand and make money how do you have confidence and recognize it early enough so that you can take advantage and make a good chunk of money as you know it's always easy to assess historical charts i agree yeah absolutely i agree but look what we've done i mean i don't want to go through that again it's just you know hubris is is really a big part of trading here in the stock market those elves are listening to you when you pack you take your hands to pack yourself take your hands off the wheel to pack yourself on the back that's when you hit the tree so i'm not going to do that i'm just going to say um let's go back to the one that we were looking at which is bank of america went from uh it went from the oval pattern up to a p d and the reason why i liked it is because it had the potential i did have this and then i took it out because i did it was getting a little messy i did i did my homework here and it had everything intact um it had i it's going to get messy again well i'll do it but it had everything that i was looking for in both either the v-shaped pattern remember what you really want is to go to either a higher or low or a particular candle for your left side right side and i'm doing this and i'm saying yeah that's a nice rise this one says to me we could get there soon as i'm not going to use the low the little doji candle low of the 12th of july in bank of america at 2967 i'm going to use this peak right here so this is where it doesn't become there's no way a computer is going to pick that out but my eye picked it out within a split second so that's the difference and that might change over the decades but at this particular point that's still the way i need to do it and uh there it is so i i drew that in and finally enough i had actually drawn a bunch of this in but to explain it i decided to just make it as clean as possible so yes my trend line and that trend line i'm now going to extend i would have taken it to the top of the left side right side price time match to there well lo and behold it's already made the D it's got another two sessions to go to meet that criteria and the criteria is to try to make the target so and so the answer is we have been using it very profitably i mean we're in a 30 this is one that we're in a 32.62 i wanted to get in earlier but i didn't but we're in a 32.62 on the 19th of july and Australia right now 30 it hit today 36 20 so that was Australia right now 35 89 so hey that's a three point it's uh yeah three point gain 10 percent that's not i mean that's pretty good right so uh and it's in a very short period of time so everything's done everything i wanted and i could store a little bit like these good stochastics at 82 percent so that was the answer to your question it's one answer to your question but there could be many other answers and the instant restart you see the whole thing about the instant restart my assessment has been that there probably won't be an instant restart i think we're getting a little tired in the market these big spikes at the upside are really two things a lot of short covering but there are new positions that are coming in am i and it's only a suspicion i have no idea really whether i'm correct my suspicion is that you're seeing buying coming into some of the positions that have just been hammered and that's going to give you a little bit of a cushion i hope that answers the question like i what are you doing for time we're doing okay question came in here if i can find it here um uh a basil you uh yeah basil you you talk about these screamers can you explain what a screamer is that's just my own expression for instance um vldr i had one that came up i have a screen that shows me but i also have my own list these are stocks that are under 10 for the $10 and they have look like they have a good chance of spiraling as we buy it if we get it correctly that day these are trades but they sometimes they stay as positions because we've gone in so nicely what happens is it's in a leg d which is really where you want to be careful but it is so strong and in in a chart formation this is it can really move and like aiv is one that we had that we had on the list and it was so strong all the way up every day i said aiv over how can we well the idea is you should just close your eyes putting the stop and buy it because at some point it will pull back but look at this this is back in the uh sixes is trading at 974 today it's up 5.8 percent and again i didn't get it aiv are you grinding in the market but seeing little to no return or are you a successful trader simply looking to make your job a little easier learn to take the path of least resistance with david white's powerful trading newsletter david white is an accomplished trader whose deep understanding of technology and the markets allows him to consistently find and share winning trades support and resistance define the ranges in which stocks trade by understanding these trading ranges david white is able to find the path of least resistance david white's trading newsletter the path of least resistance is delivered daily before the markets open to make every trading day an easy win visit tfnn.com today and subscribe to david white's ultimate trading newsletter for $119 a month and try all of our newsletters risk-free with our 30-day money back guarantee take the path of least resistance at 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 in stock prices get the opening call newsletter by basal chapman in your inbox every day first time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors everything in the universe is governed by the fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the fibonacci 24-7 newsletter at tfnn.com when you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks you need to pay attention to and you can trust larry's analysis after all he's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from larry on market movement you need to act on at any time first time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the fibonacci 24-7 newsletter today tfnn.com educating investors 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 you know the peak d the fourth highest peak in the chapter wave he has the one minute e-mini it made a peak d this is very interesting i'm going to pull this back oops i didn't need to put that uh down arrow in uh let me just oh that down arrow is incorrect that's real quickly i wanted to show a bunch of things as we're wrapping up because we've got a weekend to go so folks um there we go it should be a very interesting weekend we'll see what happens sunday night because this market is just on a very short-term basis it's starting to become somewhat vulnerable so abc what are we doing here in the 120-minute chart i haven't been able to to do anything with it because i've been busy with the show so a pbc this is the 10-minute e-mini i wanted to do on some other things as well but i there was so much to discuss and just to show the part chart patterns that are repeating that's really what we want to do give her about the questions that come in and about answers that we can give that are educational that you can use and we're watching this there's peak d in the uh um 10-minute e-mini let me just put apple for a moment apple uh yeah okay this has gone to a peak uh probably a peak a all right it's stalling this is the cup formation that we always talk about have a look at apple see what happens from the left side to the right side and i'll just put this as a vertical thing we'll look at it maybe monday and see what happened uh here it is yeah it's still quite strong actually it's holding okay it's not nearly as strong as it did when it made that high early this one on the 11th uh that was yesterday but what today's the truck yes yesterday when it went to 100 more close to 171 this is a little bit weaker all right let's get back to our story what are we looking for we're looking for some um kind of choppy action the question came in yesterday i didn't do it about baba having calls on baba you know i would just refrain from these chinese stocks i don't know why um we've got enough that we have to really concentrate on yeah we're not going to another country uh it's just it's real tough so i'm considering that this is just a rotational correction that can make a correction an upside correction there's some of the stocks that have done well so i have to put back a little bit of the ones that have been dragging kind of hold that's the way i'm putting in