 The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now Larry Pezzavento. Okay, looking good. Billy Ray feeling good, Louis. Well, we're going to talk about the old stock market today, folks, because we had a trade situation last night that I spent a lot of time on the videos about it. I said, this looks so good to be true. I said, it probably isn't. And by golly, you're exactly right. You'll notice here what we were doing last night is we were selling the Dow Jones E-mini at the 382 retracement up here. And of course, we put our stop in because, you know, you can certainly see some of these markets explode to the upside. And that is precisely what happened. And I still believe that we're just in the midst of a three to four day rally. And I know that this is a hard time to really talk about anything other than the patterns. But when we're looking at timing stuff, you know, we're over some of the most powerful stuff on a short-term basis that you can find. That's today and tomorrow. Tomorrow we have the full moon. That's the harvest moon. And then we also have Mercury is going retrograde. And boy, that's a toughie because things usually go really crazy. I didn't assume that it was going to be that bad or higher, but it did. And this does not affect the long-term bearish opinion or not. What I do personally now and from my folks here at 24-7 is I'll wait until Monday to see where our entry will be. It might be a lot lower, but I do believe that we are in the midst of this three to four day rally after that big drop. Folks is amazing. Everybody, when it's down there around point B there, the whole world says, oh my God, it's the end of the world. That's a big ABCD setting right at the 61% retracement and now you're getting the rally. But anyway, I'll stand by what the numbers say. Remember, we had Norm Winsky on Tuesday. He said to be a really strong rally Wednesday, Thursday, Friday, and into Monday is what he said. I should try to get him on the air on Monday just to see what he's talking about. But he does really good with the timing and he's better than 70% accurate. So that's a pretty good thing itself. Anyway, that's where we look at the charts here today and we'll go through. If you have any questions, 877-927-6648, I'm sending in today for Basil Chapman. He's been helping me out so much over the past three weeks that I wanted to help him out. So I wanted to get that going. Here's what I wanted to show you, another one that we were looking at. This is how the sequence of events worked with this trade we were looking at last night. We sent out the video. We said we want to be watching to sell the Dow Jones when it rallied another 200 points up around that 21,900 level. Well, what we were doing here is we were also watching three markets at the same time just to see what was happening. Now, this was about 11 to 12 o'clock my time last night and that's what we were watching. You see that number right there? That number was the 382 in NASDAQ and it was really looking like it was going to hold up. The move that we had here, the same, the move we had here is the same. Now we're a day farther than the same, but that's still what's happened. But what I was watching, and this is what's interesting, I'm a short-term trader, you know, because I'm interested in risk, but I just wanted to show you what happened when the, hold on one second here, get this up, and we'll be able to see this. Hold on, here we go. Okay. Okay, what I'm watching at the time here is I'm watching the NASDAQ right here when it hit that exact number, when it hit that number we had. Look what happened to the S&P. It dropped 20 handles all the way down. The Dow Jones Industrial stopped, you know, a whole way down too. It looked like, uh-oh, this is it. And that was it. That was the bottom right there from then on. It rallied the rest of the day. So that's how you control risk because once it went above that NASDAQ, once it went above that number, uh-oh, you got to be really, really careful. I believe that the time of the high is today, whether it closes higher or lower, I don't know, but what I will do now is wait for a smaller interday pattern to try to enter and not risk very much. That's the whole key. You know, that's the main thing to see what's going on. The US dollar is all over the map today, folks. You know, we had the euros had a huge run, but all it did, let me get this up here to show you what the euro has done. Just give me one say it is right here. Hold on. Here it is last night. And just get it up here. Tremendous volatility around this time, which is exactly, you know, what we like to see. Put this up. Okay, and there we are. Look at this trend line in the, in the year. This is a daily trend line, folks. When it breaks above 110, you can go, I think that'll be a breakout to the upside. All we did is we've rallied up to this exact number, right to the 50% retracement of this move right here. These others were all 3A2. So that tells us that maybe, just maybe, this might be a major bottom in the euro. But right now the dollar index is still holding up incredibly well, even though it's had a big break today. You know, with that strength in the euro, it still hasn't damaged anything. This is just a normal correction in the dollar index. You know, we had a big move up in the dollar index, and it stopped exactly at the 78% level on the long-term, you know, weekly and monthly charts, up there at 11060. So that's what you got to pay close attention to. And that affected the gold market, too, because, you know, we had a nice move in gold on the downside, and then we had a nice move in gold on the upside. So whatever we've got going here is going to be pretty, pretty interesting in my opinion. But when we get back for, well, we've got two other things I wanted to mention. Hold on one second, and I wanted to get this to your attention here. And that is Peter Elides was our guest yesterday. Peter is probably one of the better old, he's two years older than me, and so I've known Peter since 1965. He was one of the first guys that I met in Southern California, along with Eddie Horowitz. He was my attorney, and he was also a big hedge fund manager with Harrison Stone, and this was back before they had, you know, hedge fund stuff. But he and Peter lived in the same place in the Hollywood Hills there, and so I got to meet Peter through Eddie. And I met Eddie through, you know, Conti Commodities. But before Conti Commodities, there was a Clayton Brokerage office there in the Ford Hughes building right in Westwood, Westwood and Santa Monica Boulevard. And what we were looking for there was a place to maybe expand in what happened was Conti Commodities came into town and basically they bought Clayton Commodities. Jim Twentynman was the broker there. Jim was been my friend ever since. And so that's how all these people got together. Stan Harley, we met him a little bit later, but what's amazing is, you know, where Peter and I have been doing this for the same length of time. And, you know, folks, this is what keeps me young. I mean, I look people... When I look at the new king, King David... No, wait, King Charles III, you know, my gosh, he looks like he's 90, you know, and he's not very healthy for heaven's sakes. The way he moves, he moves almost like I do. No, not quite that bad. Anyway, 877-927-6648. 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 and created transaction. Vista Gold trades on the NYSE 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 market's open. To give you the competitive informational edge you need to succeed, these newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights, today. And try all of our products and newsletters 30 days risk-free with our Money Back Guarantee at TFNN.com. TFNN, Educating Investors. TFNN 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 Pezzavento 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. You'll get 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. 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 Day. Available to all tigers and tigeresses for just $1 for the year. There's no catch or added costs 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. We'll see you next week at 727-873-7618. Okay, folks. I want to continue on here with the chart from Peter Lighties. Peter mentioned on the show yesterday his band for this top in the S&P range from 4035 to 4060. And we have hit 4059 so far today. Now, we're going to find out whether this is right or wrong or not. I don't know, but all I know is we're going to be close to a major, major turn. And the reason why I said that is because we're looking at that lunar cycle which starts tomorrow. That's the harvest moon. But the main thing is that we have Mercury is going retrograde a major, major one. And the reason why I watch this, folks, is because the best trader that I ever met, and I met Amos Hostetter, who was fabulous, okay? Jay Cross, you know, he was fabulous. He was my best friend until he passed away in 1995. But Frank Towsher was in a class all by himself. He wrote the Super Traders Almanac and he and I were the same age. He was extremely religious. He was a Baptist out of Tulsa, Oklahoma. Folks, he gave 60% of his money away to organizations that really tried to work and help. I mean, it was really amazing what he did. But when I first met him, he was, we were doing these, this was back in the days when people were just interested in commodities, 1970s through the 80s and early 90s now. That's a secondary word for everybody. But we would have these contests and they would give you hypothetical $100,000 to trade for two months and see who won. You got a small trophy, maybe a small amount of money, but it got you into the limelight. So I would enter these contests and I would, I never won them because he won every one but he would not do it with funny money. He put his own money up $100,000 and gosh, he made more money than all of the other people, no matter how big the contest was. He made more money than all the other people combined. I mean, Ed Dobson, Traders Press, we've got, we begged him to write a book but he said, look, I write the Super Traders Almanac, I do trading and this is what I like to do and anyway, super nice guy. And what he was, I believe 50, 52 years old he and his son were going to lunch there in Tulsa, Oklahoma. They were standing on the corner and Ed was talking to his son and he didn't even get to finish his sentence. He died in the middle of the sentence, just totally collapsed. What he had, he had an aortic aneurysm. In other words, the big vein, the big artery in your body right below your heart that pumps all the money up, split and that's it. I mean, it's instantaneous and so that was it. It was all over, his son had no interest in commodities and stuff. He was interested in real estate but Frank was the best. Anytime you get a chance to find the Super Traders Almanac, look at it because he had all kinds of things in there but he always said and he talked about it. He said, you know, he got the greatest timing signal in the world, is the full moon with mercury and not only that but we have Venus at perihelion too so this is why this is such a big deal here on Friday. Yeah, I took a loss today but it's no big deal. We've had one hell of a run here folks and we've been short bonds, short euro. We were short stocks all the way down. We covered right on the bottom at the ABCD level so we're just waiting for the next opportunity. That's basically it. That's how you get in and that's what I'll be focusing on for the rest of the day and then also over the weekend because this is the big one we're looking at folks. You know, if this market makes new highs I'll be, well I'm certainly not going to be in front of it if it does that but I mean I really think that we're going to be seeing something on the downside that's going to be really, really so those are the things that I'm paying close attention to here today. Crude oil, let's get back to let's talk about crude oil for a second because everybody's talking about that and the fact that it's had this big move down and everybody wants to take a look at it. So what we were doing last night was watching crude oil and I wanted to bring it up to your attention here. This is nothing more, all I'm looking at now is patterns folks. The news makes no difference to me either here or there so let's get it up here to see where we are. You remember here we had this beautiful 382 retracement up here and as you can see the crude oil had the big move down and there was an ABCD there. There's ABCD to the downside we expected a rally. Where did the rally rally to? Take a guess boys and girls. You can see the end of it right here. It's a perfect ABCD and it matches pretty much the line on the way down. So all that is folks is the market broke the 61% retracement at 87 15. Once we broke that, that told us that there was a possibility of negative move down and that's what we have. Now remember when this thing was 130 back when the war was going on in March of last year everybody wanted it. $200 oil was the buzz word that everybody talked about. Now we've got it at a 50% discount and nobody wants to buy it. You've got to buy them when they're crying and sell them when they're yelling. Like Warren Buffett says buy it when it's blood in the streets. Well there's not quite blood in the streets but there's still a big chance here that we're looking at something that is really quite exciting. Someone's asked the question why am I so bearish and I'm going to show you why. Well there's a lot of different reasons I put those up. Here is where we were in 2008 and this is bigger than 2008. This is where we were back here in August of 26. Here's where we are now and this is where we're getting ready for the flying Walinda folks right here. Those of you that are young don't remember but it was a Polish acrobat group called the Walindas and they were always doing extra stuff really crazy stuff. My daughters just went nuts watching them and so we were watching them down in Brazil and they were going across the two skyscrapers walking across this tight wire and the wind caught one of them and just lifted him up in the air and he took a flying what they called it the flying Walinda down to the pavement below and it was that's how they got the names of the flying Walindas and that's what we got here boys and girls we've got a flying Walinda believe it or not now if we are really strong on Monday disconnect all of my TFNN shows because we're probably going to make another greater correction that we're already seeing but that's neither here nor there we'll wait and see how that works out. Getting back to Crudo I wanted to show you how powerful these 3-8-2 retracements can be this is Crudo all in the middle of the night while I was up watching everything else you'll see we made up of the previous days you see how we make a perfect ABCD at a 3-8-2 retracement and boom where'd we go we went way off the top of this chart folks because we topped at 86-40 that was the high that we made early this morning when that trendline stopped right there and we've dropped our barrel since that time so that's how I use patterns if you're interested you can listen to the show that we have on September 20th I'm going to do 5 hours of this I'm going to do some teaching and we're going to do some trading like we've done on the other 3 each of the other 3 have been profitable I hope that this one will be too but we'll see 877-927-6648 If you want to take advantage of this sector now is the time to subscribe to my Gold Report The Gold Report is a comprehensive look at the metal sector as well as the markets that move gold which is the currency and bond markets New subscribers get a 30-day money back guarantee so you have nothing to lose Every Monday morning I publish the Gold Report with coverage of gold, silver, bonds the XAU, HUI, GDX as well as more than 30 different mining equities To 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 including guardleafs, ABCs, 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 on your copy of The Art of Timing the Trade Charts today by visiting tfnn.com and tfnn's youtube channel with Tiger TV live every market day from 8.30am to 4pm 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 8 different shows with expert hosts to help you make the right moves with your money Watch online at tfnn.com 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 Okay folks, I posted a chart that comes from Stansbury Research They're the number one marketing firm in the world They have millions of people on their list They charge huge amounts for their products and stuff like that This happens to be a chart that they sent out in about March or April of this year You'll notice here, what they're doing is they're comparing, look at the crash of 1987 folks, how minor it really was in the scheme of things It turned out to be the best buying opportunity of the 1980s and by golly it was exactly at a 61% retracement from the April low August 9th low of 1982 I was on the floor at that time and the S&P was trading for 103, it was so bad folks believe it or not that the futures were trading at a 3-point discount to the cash Cash was trading at around 105 and the futures were trading at around 101, 102, I remember because Byron and I were talking about that was a lot, and remember it was $500 a point not $50 a point and from that level we had the huge rally up into the run around 1900 somewhere around 1900 or 3000 in the Dow, whatever it was and we had the pullback right here was the low of 2009, March 9th 2009 and from there of course we had this huge run up What are you showing here, look at the low this low here in 1987 was 61% of the low of August 9th of 1982 and then we go up 12, went up for 12 months 12 years and 5 months this low here we've gone up 12 years and 7 months what is this pattern boys and girls okay raise your hand okay Johnny in the back of the room says I know what it is Johnny saying listen to him you're absolutely right thank you Mark AB equals CD, right up here that was January the 4th and we had a heck of a January and I'm going to show you why we've had a heck of a January because it's been the worst January that we have ever seen in 47 years if you go back even farther it goes back a lot farther than that but this research I'm going to show you only encompasses the last 47 years and what we're seeing today folks is a capitulation to some short covering in fact what I do during this big rally here I watch the short covering if the market dropped open interest here yesterday and today this is going to light up the tote board for me on Monday because I'll be watching that because that's nothing more than short covering and the way that it went up especially last night it was just a really it was like a flagpole and that was when the US dollar turned that's what did it but as you see here right down here this shows you where you are compared to all the other January to August periods over 47 years that's how bad this one has been so something is not right out there folks I don't know what it is I think there's a black swan out there but I don't know what it is well there's so many things it could be it could come from Ukraine it could come from China, Taiwan it could be the US dollar turning big time it just could be just about anything that's a but if it happens we'll know about it but unfortunately no one can predict what it is and so all I'm doing is just looking at patterns and they've got me here so far and they're not going to let me down I've really really really believed that there's no problem at all okay well we do have a question coming in and that is about Bitcoin Bitcoin I believe is in a rally phase I think we've got up to 21,000 I think the upside of this maybe 23-24 but this also could be a topping action in all the things that we're watching here today but anyway that's the main thing that we're paying attention to today to see what's going on I wanted to share Jeff huge as off to Europe for a couple of weeks enjoying the fruits of his labor but I wanted to bring Jeff from Alpha Insights chart up because this is to me this is where the pedal meets the metal boys and girls and we've showed this chart using art charting work for quite a while this is someone else Jeff huge you'll notice here this big move that we had here there was our big retracement there folks that we had here on the 25th of August I believe and that was as I recall well the 25th of August that is the same time that we made the top in 1987 my goodness I forgot about that that was harmonic convergence folks on that day there were five planets in the sign of Gemini and boy oh boy that was the top of the stock market for all the way down until October the 19th where the market had to crash down believe it or not folks we were down 16% in one day multiply 16% into 30,000 and you'll see that would be more than 15 that would be about 15,000 points in the Dow in one day see 20% no 7,000 points in one day so how would you like to walk up in the morning wake up and see wow the Dow is only down 7,000 points in one day must be a buying opportunity well by golly it was but on that day I had the picture and I don't know what happened to it I missed it but on that day there were only 1600 or so issues on the New York Stock Exchange and there were only 13 issues that were up now let's just think about that for a minute you've got the market down 16% okay and there's 13 issues that are up stop and think about that folks any stock that could be up when that is going on oh my god buy it because if you have bad news and no action there's only one way to go of course the bottom came in on the 20th of October and it never looked back and so when you see something like that pay attention to what the news is telling you because okay we've got a caller on the line what can I help you with yes I would like to know I've been buying coal options on COUP in preparation for earnings they had a very good earnings call and it's flying like rockets for the last three days it has some good follow through what do you think about COUP COUP can you tell me what the stock is and what it does because I don't follow stocks but I will look at it when we come up we've got a break coming up I'll look at it and have it up for us when the break is over what does the stock do and where did you buy it what price oh I bought it at when I was 56 and now it's about 70 I actually don't even know what the stock does and that's what that's what happened I saw a hammer at the low two days before earnings so I bought some coal options I would like to know what do you think about it hold on or sell so you bought it at 76 and it's trading at 70 right now at 56 and it's trading at 70 you bought it at 56 yes and it's trading well you've got a good profit in that I'll tell you what I have a break coming up here really shortly and then what I'll do is I'll have that chart up and we will definitely talk about it okay okay thank you what was your name please my name is John from White Plains New York okay all right well I'll tell you what I've only got a few seconds here to pull it up but it's COUP COUP as in Peter okay why don't you do this John we've got a few seconds to go before the music starts stay with us we'll be right back okay thank you 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 in the key indices selective stocks and commodities subscribe to the opening call newsletter at TFNN.com the opening call newsletter is written by Basil 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 Basil Chapman in your inbox every day you'll 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 this weekly newsletter will give you specific recommendations for value tech stocks as well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week you can get the technology insider at TFNN.com for only $37.50 sign up for Dave's newsletter the technology insider and get an inside look at everything the technology sector has to offer try it risk free today 30 day money back guarantee TFNN.com educating investors 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 this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ we're back folks Larry Pesseville setting in for Basil Chapman we have John from White Plains New York and he's long the stock called COUP he bought it down at 56 John you couldn't have bought it any better but you're setting right at a 61% retracement right now and I would I would not own that stock into the earnings and I don't care what earnings you're going to do you hit the 61% retracement at 70-80 today so I would be out of that stock I might be wrong you can put a stop in if you want a close stop or something like that if you want to hold it longer but I'd be very nervous given the fact that that's what we hit today so I'll be watching this tomorrow just to see or Monday just to see what the earnings were and we'll talk about it see whether I'm right or wrong or not but I would not be along that stock and it follows the ABCD structure really well if you look back in July and August it was making a three drive pattern up there around 80 the high was 82 we made it 2 to 54 and now we've made a perfect 61% retracement today the last I saw was the high on the stock was 70-80 so I would not be in that where's it trading at now John trading right now at 69 54 and I'm speculating it's going to hit 75 dollars today you think it hit 70 you said it hit 75 today okay well if it were mine I would put a stop in if you want to stay long I'd put a stop in it say 68 and let it rip see what happens I see okay thank you thank you for calling in okay folks let's move on here and we'll take a quick look here and see what the markets are doing I believe very strongly that we're seeing a pretty good high in the market today and I guess what you're going to say is the higher the better so we'll have to see what's going on with some of these things and we will be looking well we just hit Peter E. Leidy's profit objective and P up there at 40 60 we're trading at 40 62 right now looking pretty good the bonds are down just a tiny bit and that's pretty much what's going on nothing nothing really exciting on the the front of anything else we got gold down a little bit we had to move up to 1740 last night we bought that at 1717 and it's still got a $10 profit in it the bonds are up a little bit but they've been barriers for so long it's just a matter of time before they roll over and we'll find out what's going those of you that watch Fibonacci numbers the NASDAQ shattered the 382 level and it is now setting right at the 50% retracement here at $12,573 my alert just went on to tell me that that's what's happening we got the Dow Jones come in what can we do for you today Larry can we look at XOM X on mobile X on mobile absolutely my friend I know that stock very very well I'll tell you the story behind that back in the days when I was married my wife was a teacher in the Los Angeles school system she had a master's degree and one of the things that she did was she was trying to bring computers into the kids and how to do writing and stuff with the things so she had to go to X on mobile not quite that way hold on just a second give me this up for you John and we'll be right with you but she went in to borrow some money you know a grant and so she was asking for $25,000 and I told her I said you can't go to X on mobile and ask for $25,000 I said put a zero on it she says oh I'll be embarrassed and I said well anyway let's get this up here to take a look at it for you anyway the guy gave the money like it was pocket change and yeah it turned out to be there we go okay there it is you can always go lower you can't go higher right Larry and that's for sure low is at the bottom absolutely right anyway where we are now we've completed a big Gartley up here in X on mobile with the energy stuff the way it is the stock looks still very bullish as long as we don't take out the lows that we made during this last five or six days I think the stock could still go higher that's the way I'd look at it so the lows we made the last few days to me would be extremely important and what scares me about this chart Bill is it has a perfect Gartley pattern as you can see it's got AB equal CD right up here that happens to be a 78% retracement of the high so it is an embarrassed formation with a small possibility that we could hold those lows but be low the lows we made this past week I wouldn't touch it to me I think that would be where I would be out of the stock if you happen to be in it fantastic information as always Larry I appreciate your time in the story yeah how are things down in Puerto Rico are they okay well it's like anyway Larry it depends where you live and what demographics you know the upper middle class wealthy areas are always fine and then there's some very poor communities I do a little charry work up in the mountains couple days a month these people still don't have groups and electricity yeah five six years ago from the hurricane yeah it's it's sad but I think it's the same as anywhere else yeah you're absolutely right demographics and neighborhood and you know if you're fortunate enough to be able to acquire any wealth I mean you can make it through these hard times yeah it's sad to see Larry I mean you know the average guy I don't know how he has a shot anymore and you see it here every day you know you commented on it too you know if gas doubles a triple it doesn't affect guys like us the little guy he's all done and it's just sad to see it breaks your heart and you know you only do so much to help you can't help anybody I mean there's still thousands of people no roof Larry no electricity yeah I heard that story from other people that I've talked to have some friends down there and they're saying the same thing but that pretty much describes just about any major city in the world you know that there's some affluent people and the other people are basically subservient to them so we should be lucky Bill you know think our lucky stars we're on the right side you got it brother you got that right listen thanks for calling in and God bless you you bet okay thanks a lot Bill okay one thing we want to do I wrote a note here we're going to follow up what Coop did on Monday just to see what's going on we'll be back on my regular time on Monday I'm setting in for Basil Chapman and so I'm doing a little bit of stock work as we look at this and as we speak here we're still up here at 4060 in the old S&P and 4062 so and I thought it was going to top at 4010 it's only on 50 handles believe me I wasn't short that 50 handles folks I was long out before that all I'm saying is today's the day you got to get ready because come Monday or maybe today I don't know when it'll be but we're getting ready to have another leg to the downside and you know I'm often wrong but never in doubt so I'm not worried about that because stocks will keep you in the market and as we said before we had one heck of a run you know we were short crude oil on the way down and short bonds on the way down short stocks on the way down and we'll see what happens the rest of this is able to find a 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 tfnn.com the opening call newsletter is written by Basil 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 Basil 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 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 thinkorswim for more information just click the thinkorswim banner on the front page of tfnn.com ok we're back folks I posted the chart of the daily US dollar index and as you can see here we hit a major level up there with that 5 to a top pattern that's the shorter-term version of this you can see the 382 retracement down here this was the one we became extremely bearish the euro at that point and of course you know this took up took off to the upside and the euro went down now what we're going to do now is we're going to expand it out just a little bit because there is a potential that something really major has happened in the US dollar and I'm going to bring this up dollar index so you'll see if this is the monthly chart of the dollar this is this level that you're seeing right here this is the 78% retracement of the moves we had a dollar going back to 2000 folks so this is a major major number here that we've seen and as you can see here it's also you can see that 78% level just spot on up there at that 110 11 area and we got to see what happens here we've all we've had now is a little quiet 3-day retracement that's all it is but if it starts to accelerate then we're going to have an idea that that dollar has topped and that means that gold is going to probably get very strong because as we weaken the stuff we'll be able to see what someone's asked me a question did the queen actually pat my daughter on the head yes she did and that was 1981 I believe and it was at the Alamo on a hotel it was in the springtime and we were there vacationing and she was there by herself with her contrast Prince Philip was not there but she was getting off the elevator and my daughter happened to squirm her way through the little line there to get up front to see what was going on I think she was 9 and that's what happened hey live every day in an attitude of gratitude may God bless I'll see you folks on Monday bye