 Traders, sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. The following is a presentation of TFNN. Trade what you see with Larry Pezzavento all now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, Larry Pezzavento. Okay, looking good, Billy Ray, feeling good, Lewis. We're going to go over some charts today, folks. And I can say without any hesitation at all that these are the most important charts that I've ever posted here at TFNN with the exception of March the 5th of 2009. The first chart that you're going to be looking at today is the NASDAQ going back to the high that we made back in December. It topped in December. The Dow Jones S&P Russell topped in December also, but the others stopped on January 4th. Okay, now what we've done now is we've come down for just about 11 months and we've rallied four months into a 382 retracement that we've just hit the second time. Just now, you see it right there on the NASDAQ. Remember, this let us down and this is what we're looking at right now. It's already 200 handles under that price already as we come into Fedtime. I tried to send these out by my usual method of videos and I was shut down by Google today because they wanted some extra money for some terabytes, whatever that stuff means. It hasn't been corrected yet. You're going to get this thing late, but it was done very, very early in the morning and I want to walk through what I was looking at so you'll be able to see the importance of the day that we're looking at right now. The first thing we're going to do is we're going to go down and just take a look here at the price level here that we're going to be watching here in the S&P. Let me get this up here so that you'll all be able to see it. All I did is this is the E-mini S&P and I just broke it down to the last 10 days so you can see the importance of what we're looking at here and then we'll go through one chart at a time. You can see the ABCD structure. There's your 61% retracement of the February high right up here at 4068, but you can see here we've actually made the first ABCD already right here. That was at 4048. That's where the next one came in. So you have two numbers sitting there. There's a chance we might make that 4068 with the Fed out there and I certainly would be looking at that and there's a chance maybe we get up to here. All I know is folks, we're in an area now that's going to be very, very interesting. We'll probably talk about this in the history book someday. Now let's take a look at a couple others here. So now what I'm going to be doing now is I'm going to show you the Dow Jones E-mini and this is going to go back to the high that the Dow Jones made. Let's get this up here so you'll be able to see it. You'll see there is where we were way back here in April. If you remember that. April, May, March. No, that was February. That was your February 6th high. Now what you've done is you've made a 382 retracement of the high we made two months back on February 6th and we hit it one, two, three, four times in the last few trading days. This is a four-hour chart. We're already down 200 points from that. The actual number if you did the daily came in at 28. Let's try it again, Larry. I think it's 3285, whatever it was, it was the exact number. Yeah, it was 32850 was the exact number. The high today was 32845. Okay, the next one we're going to take a look at here is just bear with me one second. And this one here, we've just looked at that one. Give me one other second here and we'll get the other one up here. And here is the NASDAQ on a shorter term basis. I want to get this, this actually a longer term basis. Sorry, give me a second. This is why this is so important, folks, because this led us up and I think it's going to lead us down, like they say, some days it's chicken salad and some days it's something else. There's what you're looking at, folks. This is a weekly chart. You came down for 11 months, you've been up for four and you stopped at the 382 twice once on the February the 6th and we just hit it again today. We matched that high within four points, folks. And we're already 200 handles below it. Okay, so I probably don't mean anything, but we're just going to be looking at some of these things because maybe I sent this video out but unfortunately you didn't get it and that's my problem. Okay, now here is the Russell. I want to just give you the Russell and bring this up and Stan Harley will be our guest here at the break and always bring some nice stuff to us. You see, yesterday the Russell made a 382 retracement of that high we made on February 6th. That was yesterday. It's been down all the day. It couldn't even take out yesterday's high. They're expecting the Federal Reserve to raise rates by a quarter percent. If they raise rates by zero or cut rates, oh my God, don't buy that rally because if they do that, the Fed is saying, uh-oh, we done made a mistake and we got to correct that puppy. So I don't know what's going to happen, but if they raise it a half a point, I don't think it's going to make much difference any there. I think we got a caller. Somebody got through on the line today. This would be wonderful. Let's see who this is. I hear the dialing tone and it's Tony from St. Louis. My guys, I used to go there with my grandma there and a little Italian hill there and buy a salami and cheese back when I was a little shaver. What can I do for you, Tony? Hey, Larry. It's a real pleasure to talk to you. I hear you talk about the Floor Traders Handbook a lot, and I was just wondering where I can purchase that book at because when I look it up on Amazon, I can find the Floor Traders Confidential Handbook by George Hansel. Is that the book you're referring to? This is just deal me at Larry at tradingtutor.com. The reason why, Tony, it's a 90-page PDF and has a 90-minute video describing the ABCD patterns, why they work, and we used, I think we used 30,000 examples to get the statistics right, only using the euro to prove that the ABCD works and the statistics behind what we do here with the Fibonacci numbers and standard deviations. It all fits together, but it takes 90 minutes, and it's a professionally done video by John Jamison, who that's his business, and he did it for us, and that's why that's what it is. But if you'd drop me at Larry at tradingtutor.com, I'll tell you how to do it. It's real simple, and I know you're going to like it, so I appreciate it. Tony, please tell the people this is not a set-up call. I would never do anything like that. No, I'm glad you're not. I watch your show every day, and you talk about it every day, and I figure it must be pretty important, so... Today's is the most important day since May the 5th, or March the 5th of 2009, in my opinion. So we'll see. I agree. We'll see what happens in a few hours here and for an hour. Indeed, we will. Indeed, we will. All right, we'll have a great day, Larry. Thank you very much. The Italian section here in St. Louis is just still thriving. I mean, I haven't been there in 60 years probably, but that was a big deal there. Well, I actually live about an hour south of it, so I'm not super familiar with it. I'm actually from Chicago, but it made me, yeah. Well, thank you for calling in. Buy a lottery ticket. I don't know how you got through. You were one of the lucky ones. All right, thank you, Larry. Have a good one. All right. We'll be right back, folks. 877-927-6648. 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For all the details and to start your 30-day Tiger Forex report subscription today, visit the front page of TFNN.com. TFNN Educating Investors. Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing it number two for the year. An amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. 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TFNN Educating Investors. Toll Free at 1-877-927-6648. Internationally at 727-873-7618. Okay, folks, I went through the stock market stuff and I'm going to run through the gold. I wouldn't do any of these trades, folks. I'm just giving it to you for historical purposes. That's great, basically. There's where we were here. This is an hourly chart on the Hello Operator. I'm a little bit tired. We had a 382 retracement right here. If you remember, that led to the big ABCD up here. There's our 382 on the way down. Excuse me, 61% retracement of this move right here. I'll do the rest of it, but that number came in at... Let me see, 1938. And the low was 19... No, 1937. The low was 193610. So there's a perfect example that that stuff... Sometimes it works, sometimes it doesn't. That one just didn't work. Now, let's take a look at the other one on the little bit longer time frame. Remember, we had this beautiful trade that we had on the other day, one of the few that we had that worked out. Let's get this up here, put it in here. This shows you the ABCD pattern here. We were looking, of course, at the hourly chart. I don't know if this was just a 15-minute chart because we were trying to nail that high. We had the 382 rally back. We hit it twice. And we hit the Dow Jones here four times. I don't know if it means much, but there's your ABCD down. And we went a little bit below that. And the reason why we did... I'm going to bring this next one to you also. Where is it, you little rascal? And there you are. I think this is it. Okey-dokey. Let's get it right up here. Here's the long-term weekly. And there's a tiny bit of variance because of the... I think the rollover between the April and June is June's lead contract now. But there, you can see the old high that we had right back here for the breakout. Remember this one right here? That was the big breakout. And then we went up here. And 382 on his whole move from down in here comes in here at 1939. But again, it went to 1936.9. So you missed that. So there's another one. It didn't work. But you know, we'll just give it to you for a little flavor of sometimes when they don't work, you got to know when they do work. The one thing I feel very strongly about is this. This is where we were in March the 5th of 2009. And for reasons I can't go into, I'm going to tell you that this three-drive to a bottom pattern, where we are, this was stocks Dow Jones 666, okay? And guess what, folks? That was a bottom. I said there's going to be a rally that would blow the stocks off of 1938's rally. Well, it went from there all the way to 40,000. But we are over this kind of time frame right now. Everything lines up. I mean, it all does. I mean, I don't know what's going to happen. You know, who knows what's going to happen next. All I do know is that keeping eye on the bank stocks, because if the bank stocks can't rally during this, God help us when they start to sell off again. And that's what my biggest fear is. And hopefully all of these are going to fail so we don't have to worry about that. So that's the main thing we want to pay very, very close attention to. Now remember here, we brought this volatility of the bonds here from our good friend JC Parrots, one Carlos Parrots, all star charts. I want to bring this up to show you that this is just the beginning of something that I think will be historic. It hasn't even been historic yet. Well, it is for companies like Silicon Bank and some of the others. Okay. That's pretty much it. All right. There's where we are. This is where we were a long time ago, of course. And I think we'll exceed that eventually. But there's more volatility to come. So all I can say is today is the day. I know nothing about the astrology or none of that. I mean, I know tiny bit enough to get me into trouble. But that's neither here nor there. Also, I wanted to bring one other one to it because we hit the exact 382 today in the Bitcoin at 28,400, I believe, was it? I don't know where the trading was but I think that number, it hit 28,000 times 22,282 and then 28,400. I don't know where... Can someone alert me to where Bitcoin is trading now because I don't want to make any more... Because if it's up like 29,000, then maybe this is... And I don't trade it, folks. I'm just looking at things that tell me that, hey, look, I just patterns ABCD. There's no Elliott Wave in here. I don't do Elliott Wave counts. I'm just something that I can't do. But let's talk about money, all right? Here is what we want to be looking at and this is from yesterday, okay? That's when I had some email running and we'll get this up here and take a look at it. This is the U.S. Dollar Index. Okay, now this is short term because we're going to be looking at it, you know, some where we were back here. You see? This is daily. This is February. Here we are in March. That's today. Today we made a slightly lower yet, lower than yesterday and it was exactly at that number right there, 102 55. So now we've got the Federal Reserve in here and we're going to find out what they're going to be doing here in just about an hour or so from where we are. So that's what I'm looking at ahead of time and I'm sure they're going to come in and have a lot of fun with it and we'll see what's going to go on. There's a lot of news about Credit Swiss and all these things. You hear 25 different opinions of everybody, you know? Oh, we're going to get a free trip today, folks. We are going to go over to the UK and we're going to take a look at the FTSE for one of our friends over there, Nigel Terry and his lovely family. Let's get this up here. You'll see it. There's where we are. We had these beautiful move down. You see they're perfectly symmetrical and now we rallied up into the 382 level here in the FTSE. Now FTSE is a index traded at the UK but the problem is it's just all foreign stocks in it. There's no UK stocks in there. So that's part of the reasoning behind it. Okay, now the secret to... Not there's no secret. The key, in my opinion, is what we have going here is something like this. This happened to be a very large bank, signature bank in New York. Everybody's been bailed out so you don't have to worry about that. Even though Janet Yellen said, we know more bailouts. Well, that's what the Federal Reserve has been doing. Well, the history is going to be writing about this for some time to come. But you can see this stock had been in a downtrend for well over a year, folks. I mean, they had so many 382 retracements here. And then, of course, they finally said, there's a problem. The problem is we don't know how big the problem is because what they're telling us is probably not the truth, just like they do with wars and all the other stuff. And I'll probably be banned forever just from me saying that, but that's the way the news is, folks. That's, you know, they tell you partial truths. Okay, now I want to do one other one that I think is important because Jim Bartolioni will be our guest here on... Hold on here just a second. If I can find a doggone thing. And I think it's this one right here. Nope, that's not that one. Well, basically, Jim will be on talking to us about the potential move we have coming in the natural gas. And then he's also going to be talking to us about what he talked to us about three weeks ago alerting to the fact that the banking index was going to go down big time because we had that beautiful garly at the 382 and that one worked relatively well. Now, we're going to have Stan Harley coming up and he's always given us some, you know, really great things to look at. And then tomorrow we will have Shane Smollion and on Friday Jim Bartolioni will be right back, boys and girls. 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. For a daily 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. Larry will also provide daily charts, videos, and data on the key markets that he's tracking. 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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. Hello, Larry, good afternoon. Hello, Stan. Hey, folks, I want you to listen to me here from the old cowboy here in Tucson, Arizona. I'm about as much as a cowboy is as Dustin Hoffman was in the midnight cowboy. But you have on the line here today, Stan Harley, that's going to give you an explanation of what left translation means and it is really important. The only other person that I know that can do this is Peter E. Lighties and he doesn't like to share that kind of stuff. So this is really important, Stan. So explain to them what the left translation is because it's really important. Absolutely, Larry. What I thought I'd do is go through some of the things that I look at with respect to the markets and the structure that can tell us quite a bit. This is a concept I've discussed with you on the air and I certainly talked about it a lot in my own work. It was first brought to my attention about more than 30 years ago by the late Walter Breser. I've studied the phenomenon and it's a very, very valid pattern. Basically, it's this, and this is a chart right out of his book over here on the left, The Power of Oscillator Cycle Combinations that he published back in January 1991. And what he noted was that in the idealized cycle, it's not a sinusoidal function like we see in nature. Imagine you have a trough-to-trough scenario in the engineering world. The crest of that cycle occurs to the right at the midpoint. However, in the financial world, that's not the case. What tends to happen is we see the crest of the cycle occur either to the right or the left at the midpoint. And in a rising market environment, the crest, or the high point of the cycle, tends to lean to the right, as you can see from that chart on the left. In a declining market environment, you still get the same little ocyclical schedule, or it can contract and expand, but the important point is to note where the crest has occurred. And if the crest occurs to the left of the midpoint, then you have what's called left translation with lower crests and lower troughs. And that's indicative of a declining market. Sometimes you get centered translation, and that happens when you're going from, say, a bullish environment to a bearish environment. The translation will shift towards the middle, and then it shifts to the left. Well, we have all the above in the next few charts. Let's start off by taking a look at the stock market. A lot of technicians, I think, make a big mistake here. They look exclusively at one index, and most of them tend to look at the S&P 500. That is certainly the broadest measure of market activity by most, not the broadest, but it's certainly the one that's the most common. It's the 500 largest stocks, and the New York Stock Exchange. The futures, S&P 500 futures, of course, are indexed based on the S&P 500 cash index, and most money managers follow the S&P and peg their performance to that. But there are actually four other indices that I think are equally important, and you and I and everyone else there as market technicians should be tracking all five of these together to look for either confirmations of the trend or divergences, which typically popped up at reversal points. For me, the big five are, as I show here on the chart, the Dow industrial, the S&P 500, the NASDAQ composite, the New York composite, and last but certainly not least, the Dow transports. I look at all five of those. Well, let's take a look at some charts of each of them. The first one is a chart of the S&P 500, and I ran this off a little over an hour ago. This goes back about a year's time, and where I have put the red arrows at the bottom reflect a cyclical parameter that I have tracked for many, many years. I wrote an article about it in the magazine for the foundation of the study of cycles. I call it the primary weekly cycle. There's a primary weekly cycle. There's a primary monthly cycle. There's a primary daily cycle on the weekly charts. The primary weekly cycle is about 34 weeks, eight months. Both of those are Fibonacci numbers. Surprise, surprise. It's about 169 trading days. And that cycle, like all cycles, it contracts and expands. If one looks at a sufficiently large enough sample size and does the analysis, one will find nominally it's right at 34 weeks. Each of these 34-week cycles tends to have four, typically four, sub-cycles embedded within it. I call these the trading cycle. And I've marked these one, two, three, four, as you can see. Now, in the first trading cycle from the October bottom of last year, the trading day count on the S&P chart from low to low was 49 trading days. And take note of where the crest occurred on December the 13th. It was to the right of the center of that cycle. In other words, right translation. Fast forward to the second trading cycle, which just culminated a few days ago, last week. That was 53 trading days, trough to trough. The crest occurred on February the 2nd, and it was just one day to the right of being exactly in the midpoint, but we'll mark it right translation. And then we've got two more trading cycles to go. All right, let's look at another chart. File that one away for the moment. Here's a chart of the industrial's. Very, very similar, but the highs and the lows did not come in at exactly the same dates as the S&P. Close, but not exactly the same. And that's important to take note of. The first trading cycle from the October of last, low of last year, 49 trading days, trough to trough. The high occurred on December the 13th, right translation. Second cycle from mid-December to the low that occurred on the 15th of March. That was 55 trading days, and the high of the cycle occurred to the left of the midpoint for the Dow chart. So that was left translation. Let's look at another component of the Big Five. The New York Composite Index. First trading cycle from the October low, 46 trading days. The high occurred just a smidgy-widgy to the right, right translation. Second trading cycle, low to low, 58 trading days. The high occurred right exactly at the midpoint. So we're going to call that one center translation. The last one was right, now it's shifting left. Is there a message here? Well, you bet there is. What I've done here is I've summarized all five components. The S&P 500 and the most recent trading cycle had right translation. The Dow had left translation. The NASDAQ had left translation. New York Composite Center, Dow Jones Transports left. You don't need a calculator to do the average. You could do that with the Mark 1A eyeball. Clearly, left translation in the most recent trading cycle. Left translation is indicative of lower prices yet to come. Wow, that's very good. Folks, you know, I have stand on here at least every couple of weeks, but I understand the importance of what you're talking about, Stan, because I started at the beginning just like you did when Hearst came out with this stuff, and then Wald-Bresser expanded on left translation and right translation. But this is so important. I hope people really appreciate what you're telling them here because you're not going to find this on Elliott Wave or anything like that. I mean, this is the real text of how a market turns. In bear markets, they translate to the left. In bull markets, they transfer to the right. And we've been in a bull market since, you know, March the 5th of 2009. And of course we turn various in January the 4th. So that's why these things are important right now. Hey, we've got to take a break. Stan, please stay with us. And Stan, would you be able to do another segment an hour from now, because I'm setting in for one of our good friends, David White. I'd be delighted. We've got a couple more charts after the break, and then if you want later in the day, absolutely. That's great. Wonderful. We'll be right back. 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 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 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 Biotech is booming, but for how long? Whether you think the Biotech bull has room to run or has run its course, trade L-A-B-U or L-A-B-D, Directions Daily S&P Biotech three times bull and bear ETFs. Visit Direction Investments.com slash Biotech today. An investor should consider the investment objectives, risks, charges, and expenses of the Direction Shares carefully before investing. The Prospectus and Summary Prospectus contain this and other information about Direction Shares. To obtain a Prospectus or Summary Prospectus, please contact Direction Shares at 866-476-7523. The Prospectus or Summary Prospectus should be read carefully before investing. An investment in the funds is subject to risk including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, Foresight Fund Services, LLC. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Okay, we're back with Stan Harley, a market letter and Stan, I have to Stan correct it here because I've been looking to left translation, right translation as long as you have and for some reason, Jim Hurst was my customer when I was at Drexel. He only did like three trades in four years but they worked. I always assumed that it was he that did that but it was actually you were right, it was Walt Bresser. The reason why I'm here in Tucson was because of Walt Bresser. He and his lovely family lived here and Roman and his widow are still living here and I'll be dogged on. If I went and looked at the Hurst book because I keep it here on my desk and I thought, but what am I thinking about this? Then I realized it was Walt Bresser that taught me the left translation, the right translation. It wasn't Jim Hurst. Anyway, I'll let you go ahead and go on and you'll hear more of it. Go ahead please. To the profit magic of stock transaction by Jim Hurst, that's it right there on my bookshelf. I keep it on my desk, yeah. Hurst said nothing about right and left translation. He did not, you're right. Other than Brezert and then myself kind of reinforcing it but to my knowledge he was the first to recognize it and it's indeed a very valid concept. Sure is. We've got a lot of volatility potentially coming up here in the next half hour. It's going to be exciting and I suspect it'll all flush out. Maybe we may get a head fake in the wrong direction. The short-term trend though I believe is probably higher for about another week and maybe into the end of next week. We'll see. But the indications of left translation in the prior trading cycle runs out of juice it's probably going to head lower into mid-June. Having said that I heard you talking about 2009 about an hour ago. I actually have a different take on the stock market kind of a parallel. I think it looks more like 2002, 2003. Back then the benchmark averages made a low on October the 10th 2002 exactly 20 years almost to the day to the low we saw in 2022. Then the market made a 34 contracted 34 week cycle bottom in March of 2003 and came down and tested the October lows. Some stocks went lower, some did not. And I think the parallels are uncanny. The trading cycle pattern back then the trading cycle pattern now looks remarkably similar. That cycle contracted a little bit but take a look at 2002, 2003 from October 10th to 2002 to I believe it was March 12th, 2003 very, very similar environment. Take those trading cycles and multiply by 1.618 and they kind of look like what's happening today. Let's take a look at the gold now. Let's look at the gold here. I'm looking at some spots because I've got a bright light staring at me. There we go. Now I've got it on my screen. Here is a monthly chart of gold traded on the COMEX in New York and going back many, many years one can see the dominant troughs occurred about every 94 months. In fact, there's a very clear cycle of 94 months plus or minus about 8 and we had a low in March of 76 we had a low in February of 85, March of 93 that one of April 2001 I think I heard you talking about yesterday that you exploited and then the last one was December 2015 and the next one is due in the latter part of next year. All right, let's see if we can home this down a little bit. In the next chart what I've done is I've taken a weekly snapshot of gold over the last few years and over on the left we've got the all-time high which occurred in the summer of 2020 and then the big reversal that occurred on Monday of this week what is interesting Larry is I lay my Fibonacci eyes on top of the weekly chart I see a very clear .146 .236 .382 Fibonacci ratio emanating from the all-time high in 2020 I mean it lines up beautifully and then when I carry that forward in time why it lines up in late 2024 which oh by the way is exactly when that 94 month cycle a trough is due to reoccur so I think we probably put an important high in gold remains to be seen of course but it kind of looks like we've seen that and I think we're going to stair step our way not straight down of course but stair step our way lower into the latter part of next year to make the next 94 month cycle low. Oh wow this is really really great I have one other question I know you do you do work on treasury bonds don't you stand because I I do I didn't bring any charts well I know that I just wanted to chat with you what what is your opinion of the treasury bonds in here you know with the Fed coming out here and about another 10 when it's the announcement at 11 o'clock and then he talks at the top of the hour yes okay well it's 12 minutes from now so to be a little too late to do anything but what's your feeling on the direction of bonds that we're watching I think bonds have seen their high I've got data going back several hundred years and gold but treasury bonds interest rates have clear made clear evidence of the cycle spanning 40 years every 40 plus and minus about plus and minus about two years interest rates slash bonds tend to make a major pivotal turn and the last occurrence of that was in October of 81 before that was summer of 1940 for that summer of 1900 before that 1860 every 40 years and so you take October 81 you had 40 years to it and you get the latter part of 2021 we had a major reversal in 2020 within one year close enough for government work as they say so I think the trend in interest rates is higher and the trend in treasury bonds is lower not just for years probably for decades the last series of these 40 year cycles span 40 years does that mean interest rates are going to go up 40 years well very possibly I'm not prepared to make that statement just yet but what I am prepared to say is we made a major 40 year cyclical turn in interest rates and interest rates are going to creep higher for the next several years perhaps even decades wow that's really good listen I'm going to let you go now but you're going to come back on at that would be at 230 and we'll review this again because this is this important folks if you like cycles and Fibonacci this is where it all comes from so please stay with us again at 230 you'll be back on we were affirmed on that that's great listen thanks for joining us now and I will await the what they call anticipation of baited breath when Mr. Powell comes on and tells us what he's doing stand do you ever think that he shares any of this information with anybody that's a joke anyway hey listen buddy thanks for thanks for joining us and we'll see you at in about a about a half an hour how's that look forward to it you bet me too we'll be right back folks stay tuned for the end of the show 877-927-6648 if you're looking for potential trading setups in the stock market then Rocket Equities and Options Report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for Rocket Equities and Options Report today with a 30 day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN 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 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 free refund within 30 days of signing up TFNN.com educating investors 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 tigers for just $1 for the year there's no cash 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 Hello let's try it again 2021 our market topped in January of 2023 2022 so what we're seeing here is a market that's come down just about 11 months and now it's been rallying 3 months you notice it's sitting right at the 382 for the second time we're already 200 handles under that with the Fed coming in today I don't know if someone got some information I don't know but all I can say is this is a really important spot I went through the Russell I went through the S&P and I went through the NASDAQ so all three of them are covered and that's pretty much what we're looking at here is I think something really dramatic is going to happen here I don't know if the Fed I think the cycle is there maybe there they just might be the thing behind it I don't know and the second thing is I will be happy to cover that next yes thank you Jacob but I will I'm going to cover these again on the next show with David White because this is this important folks this is important as time that we had where we in right now is where we are on March 5th and when I try to send this out today I was blocked by Google for something reason I still don't know if the charge is still getting out or not but I know the ones from TF&N went through for some reason they were the only ones that went through with the 24-7 people all of the other people they didn't get it too much so anyway this is what we're looking at we're looking at something that I think is historic probably isn't but who knows but we're seeing it just about a lot of different things so we're going to find out whether this stuff really works or not very very shortly we're going to take a little break now and when we come back I'm going to do the show for that used to be done by David White and I'll do that one next after we take a little bit of break here we're going to have Stan Harley as our guest for the second hour to go through this again okay alright we'll be right back folks 877-927-6648