 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 trades today. Unfortunately, they're going to be losers, but this is how you learn. This is what didn't turn out. What the heck is this? Oh, it's a scam call. Just a minute. Let me turn this off. Out of the scam ever get in on me. That never happens. Okay, this is basically an hourly chart on the E-mini. It's not E-mini, excuse me, the treasury bonds. What we were looking at, folks, let me get rid of this cycle finder thing because it's no longer valid. Hold on one second here and just get it out of the way. Here's what we were looking at today. We had an absolute beautiful A-B-C-D pattern right up here. Just did everything that it could possibly do. There's your A-B leg right. There's your C-D leg. Our number here was at the sell it at 1-19. And there was the high was 1-19-22. Just get down to a really short timeframe. You'll see what happened is we had a pretty good break there. See that's a $600 break. And then from then we put our stop in at 17 to protect our profit at which we did of two ticks. And then of course it still goes sharply to the upside. The only thing that I could have done differently today was look to see if this low here was a 3-8-2 off of that last low. And there you can see there it was right there at 0-3. And I certainly miss it. Now we're up at this level here. And if we look at this on the daily chart, folks, we're setting right at the 50% level of this whole move going back to last April, believe it or not. Do you remember how the bonds were going to go tapioca down here at 106-107? Here we are at 120 and the whole world wants them. Well, that's the name of the game, folks. Some day it's chicken salad, some day it's chicken poop. It depends on how you mix it. And that's the key to looking at it. We got another one here that is in the failure mode. Let's get it up here right here. This is the cattle market. We've been waiting to buy cattle. We'll get the daily chart up here. You'll see that as there we are right here. We were looking to buy those down here at the 66 level. And we would have been stopped out right now. And you'd be out of that with a loss too because you've already extended it to the downside. Where does it go from here? Let's just take a quick look because we've got another one, another ABCD here to measure. There's the first one right here. We've got another one right here because this was the low we rallied up to here. That tells us, oh dear, that's the secret stuff that's in there. That's nothing more than the old instant map that is no longer functional. Let's get this up here. Here's where we are on the daily. I want to blow this up and you're going to see why we're going to be coming down here. Another lower low here. There's our AB leg right here. And then we came down to this level right here. It looks like we could get to 161 because we've broken down below all this stuff right here now, folks. So we've got to be really careful. Here's what really bothered me today. I'll show you. We have this move here. You see, I bought them down here and I sold out here. And I sold out here. And what I was looking at today, I thought this bottom was in. I really thought this 167 bottom was going to be in. And then we did this. And right here is where I made a fatal mistake because once the market went below this level right here, it told me there was trouble, especially being Friday. And it was still up on the day at that point. And then, of course, it's dropped three cents, which is a huge amount. I think the limit's four and a half in cattle. So nobody wants to buy beef anymore, folks. And I don't know when it's going to happen, but I'll still be nibbling for a bottom. But boy, this is not it right now. 164.50 is a 1.618 of this move. But with the market down this much, I wouldn't touch it from this level right here. That's absolutely for sure. OK, now the other one, we had a couple others that we broke even in the Treasury bonds. Let me show you another one that I wish I could have done it the correct way. But this is the Treasury bonds. This is the videos that I sent out, folks. I'm just reviewing it for the folks that they can review the videos that I sent out. So here is the daily chart that I sent out right here. And I said there was a chance that we could hold this low right here at 70.72. Now, I'm going to go down to an eight-minute chart so you can see it closely. And there's the level we were looking at, which was right in this level right here. That was at 172. We rallied up to, oh, 60, 70 cents, not much, very much. And then we broke down. And then we had what we love to see is a nice little, let's get this down here so we can see it a little better. We have a nice 382 retracement here, folks. And it immediately drops $2,000 a contract. And I missed it because I didn't have my order setting in here. Once we took this low out right here at 171, excuse me, 71.40, that told us that we were going to go down. And look at that. We've had tiny little rallies here. But the rallies are only 20, 30 points, just like we're doing right here. Look at this last little rally off the last high, probably exactly 382. There it is, 382. Exactly. This market's going to be going lower. And we have Mike Moore as our guest coming on at 130. And this dude's been various for a very long time. If you remember way back here, just we had him on a couple of weeks ago, and he was various up in here. Look at the move that we had here, which was on last Friday. And look at it now Thursday. This is last Thursday. And now we're just cascading down below the 78% level. And we're going to have to go to a weekly chart just to show you what it's doing, because look how close we are, folks. Look how close we are, folks, breaking these weekly lows here at 65. That's only four or five cents from where we are right now per gallon, or four or five dollars per gallon. And if that's the case, holy cow. This was the Ukraine war. Remember when Goldman Sachs told us we were going to 200? Well, didn't quite get there. But anyway, here's where we are. We got the ABCD leg right here. We got the CD leg here. Oh my God, could you believe crude oil back to $32? Folks, it could happen. Why not? I mean, it didn't go, you know, we had a war here and it didn't do anything. And now the Saudis are reducing prices because they can't sell what they have. So that's a bad sign, I would think. So let's remind ourselves. That's what we're paying attention to here as we look at this market here today in the crude oil. Like I mentioned, we will have our good friend, Mike Moore, as our guest. Let's take a look at the... Remember we talked about gasoline yesterday, how weak it was. And I wanted to get that up here to show you the R-Bob contract. I'm going to let Mike cover this. But here's where we are right here. Look at... Oh my goodness, this is just falling out of bed here. Gasoline prices. Look at this, folks. There's where we were just a couple of days ago. We've dropped 15 cents a gallon. You know, we're getting close to a big ABCD here. But there's a rally here. We went up here yesterday. We talked about that when we were on the air. Right at the 382, 216. And there we are headed down lower. Most probably to this level here, which is going to be the 1.618. We'll draw that in. There's your AB leg right here. There's your CD leg right here. And there's where we're probably going. Can you believe gasoline under $2 a gallon? Folks, we're at 202 now. We've only got four cents a gallon to go. That's almost a home run, you would think. Let's take a little break. 877-927-6648. Steve Rhodes started his trading career as a student almost 20 years ago. And the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing at number two for the year. An amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn. He shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability, 30 days risk-free today. TFNN, educating investors. Are you ready to take your trading to the next level? Introducing Tom O'Brien's award-winning newsletter, Market Insights, your key to successful active trading. Tom O'Brien, renowned for his expertise in the financial markets, has designed Market Insights to be your daily guide to profitable trades. Tom publishes his daily Market Insights newsletter every market day before the market open, along with updates when warranted. Stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to your inbox. Whether you're a seasoned trader or just starting out, Market Insights provides the edge you need to navigate the markets with confidence. Ready to join the ranks of successful traders? Head over to TFNN.com and subscribe to Market Insights today. Don't miss out on this opportunity to supercharge your trading results. Market Insights comes with a 30-day money-back guarantee for all new subscribers, so you have nothing to risk. Don't miss out on this opportunity to revolutionize your trading game. Head over to TFNN.com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter Market Insights firsthand. TFNN. Educating investors. Ho, ho, ho! It's December, Tigers. That means festivities, decorating, spending time with friends and family, and the TFNN Tiger Dollar Holiday Sale. Don't miss your chance to receive a 20, 30, or even a 40% bonus when you purchase Tiger Dollars. Once you apply your Tiger Dollars to your account, you will be able to use them for any TFNN product purchase instead of your credit card. Visit the front page of TFNN.com today to purchase your Tiger Dollars. Don't miss your chance to receive up to a 40% bonus on your Tiger Dollar purchase this holiday season. Every Tiger who purchases Tiger Dollars will also receive a complimentary TFNN Tiger mug with their purchase. Act fast, this sale ends December 17. Happy holiday, Tigers. TFNN. Educating investors. Toll-free at 1-877-927-6648. Internationally at 727-873-7618. Okay, folks, I wanted to talk about natural gas because several people have asked me about the relationship between the two. We'll let Mike Moore tell us that. Well, I don't have any energy related, but here in Tucson, there are no propane gas tanks for your barbecue pit. They're around, but they just don't have any filled ones. They're all empty, and it's been three weeks, and it doesn't look like they're going to be coming anytime soon. But anyway, I wanted to show you a technical part. I mean, this is not rocket science. There's your old low right here. You're coming down. Look what happens when you break this low. When you break this low, look at cascades, 618 to keep stropping. Then you look at the daily chart, and you want to get a picture of where you are. Look how you went through. You just went through the 61% retracement there at 259. There was your ABCD coming in here. You thought that it would have held these levels, but it just kept cascading down. Now, the only other thing that you can look at is if it doesn't hold the 618, you've got to look at the 78% level. So that's why you look at these numbers, because when they fail, you're going to see something that is pretty significant in my opinion. So let's just remember that. Now, someone's asked me a question here on Skype if I've given up on cattle. No, I've not given up on cattle, but what I have to do is I have to wait and see if it makes some type, because let's just get it up here again to show the folks, because this was such a beautiful pattern, and we did actually okay in the first part of this. There's where we are, we could easily get to this level 161. That's only 3 cents away. We've dropping. Boy, that's not very good from Terror of Indiana. We're already down 5 cents today in cattle. So cattle prices are collapsing right into the holiday season, folks. So it's going to be Merry Christmas for the consumer, and not Merry Christmas for the cattlemen. But by the time Christmas comes, it'll probably be trading up about 177, knowing how the cattlemen work. But this is what we're watching here. We had a nice pattern. It just failed. You just move on to the next one. Just like the one with the price of the Treasury bond. Same thing. So that's it. Now, let's take a look here at the E-mini S&P, because we had a really nice rally today. This was our, we had an early morning trade early this morning, and we sold it here at 87. The market came down here to 80 to 80, and what we did with the report coming out, we moved our stock to the break-even point. The market continued higher up to 98. Now, all I do now is look back at the 60-minute chart, and you'll see once we hit that 786, look what happened. It immediately dropped 30 handles. We dropped from 95 to 65. We haven't even bounced from that level as of yet. The biggest bounce only been about six or seven points. So this tells me, just by looking at this today, that we're getting ready to probably make another ABCD pattern to the downside down in here, challenging these lows. Just like we said, there's our 382 of this whole move back that has not changed. So what I'll be watching today for the rest of the day, I'll get this 8-minute chart up. So there was the first big move down. So what I'm going to do now is I'm just going to go in and I'm going to retest to see the 382s. Now, there was the first 382 was right here at 92. Well, I went to 618. 618. The next one didn't quite make the 382. You'll see. Oh, it did. My gosh, it just did it in 15 minutes. But there was a 382 here. Then we broke down one more time. And I'm following it down as we're looking at from high to low. And then we went right to the 50% level here. And now we're coming down. So we've got this much down. We're down 30 handles, 34 handles from the high. So we should get a rally towards the end of the day because we've got a couple hours to go. I'm just going to mark this off. And I would like to see it get up here to 1.7. 70s old highs right in here on the short term. 45.77. Watch that one, folks, because this is a legitimate trade for three reasons. Reason one, it's a 382 coming off of this high right here. Okay. That's reason one. Reason two, get it up here. Below the opening price, here's the opening price. It's way below the opening price. So selling into a lower opening price is a good thing. So that's the second reason. Oh, now what is the third reason? I've got the third reason here. And I can't even remember what it was. 382 was the first reason. Below the opening was the second reason. Can't remember the third reason was. I should have written it down, but I didn't. So I have to remember what it was a little bit later. But those are two good reasons. The first reason is that the risk here is really small between 77 and 87. So that's a 10-point stop. And if it's correct, just like these others, and if it's correct, we're going to be looking at something that would be looking at like this, which would be your ABCD level down in here. And that would take it all the way down to 42, 43. So that's a good risk-reward trade from my perspective. You're below the opening price. You're at the 78% level right here. This is your 382 coming in here at 77. And your stop would be here at 87. So you're risking 10 points there to make from 78 to 42, which is 35 points, 3 to 1. That's what you look for when you're watching these things. Okay? Now, sometimes they work. Sometimes you can see how cattle didn't work today. And certainly the bonds didn't work. Boy, the bonds were the big surprise to me because that was such an incredibly beautiful pattern. And it had $600 with it at one time. And I was feeling so confident. I knew the report was coming out. So I said, well, we'll put the stop in. We're locking in at least two points, two ticks, or $63. And as soon as the report came out, boom, the way they went. And that's it. But you can see here this natural gas just keeps cascading to the downside. So when you see this, folks, when you're trading and you see a market that is cascading down like this, don't try to pick a bottom. It's really tough. Wait till it has some type of bottom. The cattle were it was a legitimate trade. That was a legitimate trade. You had to try that. I mean, everything was there. It just didn't work. That's it. And I missed the crude oil by a hair's breadth, but that's the way it goes. Anyway, let's move on. We've got another one set up here pretty soon. We're going to have Mike Moran pretty soon. He's going to have a lot of information on this oil complex because it's got a lot going on in it. But here's where we are now with the soybeans. This is January soybeans. But what we're going to do now is we're going to take this down to an hourly chart because this is what we want to be seeing. Well, let's go to a four hour. Then we can see it better. Here's the number we're looking at here. This is a 1285 folks. We're 1297 right now. That's what we're waiting to see. So what we're going to do now, this is a four hour. We're going to go down to the hourly chart. We've only got another minute. This is what I covered in the video this morning, is to look for this price down here at 1285. You've got a big ABCD coming in off this low right here, that high right here. That's just above the 382. Beautiful ABCD right here at 1285. Drive one, drive two, drive three, fourth, fifth, sixth. Should be coming in either today or tomorrow. Tomorrow, of course, is Pearl Harbor Day, isn't it? But I think so. Yep, it sure is. Oh, that was very important. That was the day my father passed away at the age of 60. Many, many years ago. Anyway, this is where we have the buy point here. It's around 1285 into Jan Beans. And with a stop of about 10 cents. So that's what we're paying attention to here. So we're going to be having a guest coming on here in just a little bit. Mike Moore of Moore Analytics. And we will be chatting with him about what's going on in these markets. And folks, he's been the grizzly bear. I think I've written, I've gotten eight emails from people saying have Mike Moore on again, because he's been very screwed and it's going down. So let's take a break here. We'll have Mike Moore, more analytics on. So stay tuned, folks. Gold report. As a precious metal, gold is still king. 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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. 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. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Okay, we're back, folks. And I believe we have Mike Moore with more analytics on the line. Mike, are you there? Oh, Larry. Yes. Thanks, Rob. I'm good. Mike, I'm glad you made a cameo appearance today because it was very short. But I received, I believe, five emails from people that listen here at TFNN asking to have you on because of the fact that, you know, crude oil and gasoline is dropping so fast it must be going to go to the worthless scamp pretty soon. But what's going on? You've been various for a long time, but is there something out there that is causing all this other than the Saudis' lowering prices or what is your opinion here? Well, like I've said before, I'm strictly a technician. So I just look at price patterns and whatnot because I feel that those will get you in on the right direction of the market, 85% to 95% of the time, sooner than the fundamentals available themselves outside of news-based events. Well, we can take a look. I'm going to share my screen here. Hopefully we don't have any jungles coming to background. All right. Can you all see my screen? Yep, we're looking good, I think. Yes, there we go. We see that this must be crude oil. Is that correct? Did you want to start with crude or start with natural gas? No, whatever you like to do. Natural gas is fine crude. We want to hear it all, Mike. Well, this is the big picture in the crude. I mean, we've really been dropping here pretty hard and fast. So there's two different dynamics. On an overall dynamic here from this peak here, I believe we're in the last stretch down here and prone to hitting exhaustion levels down here before seeing a bullish correction. Now, within that, we had a full bearish structure here by a clean bullish correction. And this could also be the beginning of a new bearish structure similar to this. So this might be like an extended stretch down here before hitting one of the lower exhaustion levels. And we'll look at those in a minute. But if you recall, if you've been watching on the show, we held exhaustion up in here at 79.60. This is the analysis. I mean, obviously we've been bearish from much higher. I mean, I might as well go over just overall for a second. The trade, we've been bearish since the trade below 119.15. And we've seen 55.51 of pressure. So a number of different moves down. Those are all off hold now. They were on hold for quite a while when we had the major move up. And then the break below 94.15 has brought in 22.82. And then more recently down here, the trade below 83 even projects this downward 230 minimum 12.10 plus maximum. We've seen 11.67 of that. And then we've made that maximum now today. We've seen another portion of that today as well. Just give me a second here. Oh, here we go. We held corrective exhaustion at 79.72 with this 79.60 high. That was this high right here. We held exhaustion and rolled over 8.27 into what now may be the beginning of a new bear structure. Or the last stretch of the higher timeframe moved down from 90.27. And then the trade below 76.12, which is what we were talking about on our last, the last time it was on the show where we were trading right here. This was on November 30th. And I said on the show that right here right now is a good place to sell the crude oil because we just broke them below this formation right here. We chopped sideways for a day, but or so I never took it, never took this formation out decently on the downs on the upside. Well, we've just gotten hammered ever since. That projected just downward $3.20. Since plus we've seen $4.79. And then a whole another portion of that today, another couple of dollars to the downside. I said I'd be aware of exhaustion at 70.42 to 69.91. We just took that right out today. The importance of there's a lower exhaustion level here at 68.54 to 67.90. But the importance of taking out this exhaustion level has a higher level meaning that suggests that this market is likely to come down here and test the 64.37 area before seeing that bullish correction. So that further pushes the argument of this being an extended move down of this last stretch of the higher timeframe. Does that make sense? Yep. Makes great sense, yes. Now, if we were to trade back up and take out these lows and take out this lineup here, then that would change the picture. But right now it's bearish. You have any questions on crude? Do you want me to go to Arbab or Heater? Let's have one question from myself and that is there's got to be some type of a news announcement. Isn't there out there that's making a drop this much down three, four percent in one day? I mean, I never listened to the news. I guess you don't either. But there must be something that must be out there that would well, I'll find out tonight when I watch Bloomberg, you know, recap, so not a problem. Well, the best news that you have is on your own show. It was called right here. Get sure. Yeah, that's right. Maybe Bloomberg should watch us. No, I'm just kidding. No, you were right. A lot of people were following that, Mike. You deserve an accolade here because believe me, when they go against you, they're going to let you know they'll start throwing rotten vegetables. I got a whole refrigerator full of them over here. So I know what it's like when you're wrong, you know, and you're not going to be right all the time. But you've certainly been right here for the last three or four weeks. We've been right quite a bit, but three or four weeks you've been saying that it's going lower. And it certainly had, look at the, let's take a look at the Arbab because that's the one that's really collapsing. I can't believe that we've got gasoline almost under $2 a gallon here on this chart. So let's take a look at the Arbab if we could. By the way, I just want to apologize. I know what I just said came across as being arrogant. No, you're an illustrator for God's sake. You're supposed to be arrogant. No, I don't ever want to come across like that. I understand. I was really just saying that to lift up to the watch to your audience, the veracity of technicals because I feel a lot of time people are misled into looking at all the news out there and looking at all the fundamentals out there. And they're always way behind the ball, always way behind the game plan. So really what I was just trying to lift up was the technical disciplines. So forgive me if I came across in any way that came across arrogant or boastful or whatever. That's not me at all. All I want you to do now is to say three Hail Marys and continue. Okay. All right. Well, I've done my prayers already this morning. Good. Okay, you ready? So we're on to Arbab. Here we've been bearish as well. I won't go back over all this. Otherwise it'll take too much time. But most recently we failed back below this formation right here, which I said you're bringing pressure. Then we failed below this other formation right here, which I said you're bringing pressure. And then we took out another formation today as well. Those are the failure back below two 1916 more in a decent pressure. We came off 11 cents plus a whole bit more today. Trade below two 1744 is brought in 9.28 cents. And again, the additional piece today. And so these are all kind of the same kind of picture here where they're all in, you know, a macro structure here where this is likely the last, last stretch down. I think it's going to be an extended stretch. But in the same token right here, we had a completed bearish structure, a completed bullish correction against it. And so this is now a new lower timeframe bearish structure down. Okay, we got to pay a few bills, Mike. So stay with us and we'll be right back with Mike more and more analytics folks. 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. 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The Perspectus or Summary Perspectus should be read carefully before investing. An investment in the funds is subject to risk including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, Four Side Fund Services, LLC. Okay, we're back folks. We're speaking with Mike Moore of More Analytics out of Tennessee. And Mike, let's go ahead with the next one. Do you want to take a look at it? And this is, are we still on our bob? Uh, no, we just finished that out. I was just going to jump to heat unless you had any questions on it. Okay, no, let's, we're ready to go. Let's go. Okay, so the heat, we held exhaustion at 311.71 with a 312.47 high and we rolled over 50.75 cents. We've seen another portion of that today. And we have some lower timeframe projections to the downside also. I just wanted to point something out just to the audience. So this general structure, this is a daily charter. This general structure here is a bullish trending structure. This is a bearish trending structure. But in my opinion, this is a corrective sort of structure. What do I mean by that? What I mean by that is I think that this is eventually going to start out a whole new bull structure. So this, because we have these overlapping lows like this and it's very similar to, just to give you another example to the S&Ps. So we had this long bullish structure in here. We came off into a bullish structure, but you know, we were overlapping these lows, overlapping these lows, and then we finally started into a whole new bull structure again. So I think that that's likely what we're going to see in the heating oil. We're just looking for some lows down here that may consolidate for a little bit. I'm trapped down on a lower time frame chart. We had held exhaustion up here. I think in the 30th, which was right in here, that was also a time I'd said it was a sale. We just broke them below this formation. So we held exhaustion, broke below this formation, broke below this formation, and that's really what's brought in from a technical perspective, a lot of the pressure that we're looking for. We have exhaustion levels here at 254.21 to 250.62 and then lower ones at 233.80 to 228.00 even. Do you want to look at the natural gas? Do you have any questions? Oh, yes, everybody's interested in natural gas. It's down 20 bucks today. That's a big move. Okay. So natural, okay, we've been bearish on a much higher level from 8.20.80. We've seen $6.26 of that so far. And then I said that trade below 499.30 projects is down where $2.27 minimum, $3.70 plus maximum worth $3.047 into that. And then on a lower timeframe, which we've been updating the past couple of weeks, trade below 346.90. It's brought in 820 ticks of pressure and we've seen some more of that today. Now this morning or overnight, I put that out hold because we had broken above a minor formation right here. Only saw a quick pop, held it again, popped again, and now the decent break back below it. Renews bearishness and suggests we're heading down to some of these lower possible exhaustion levels. We've got one right here at 250.70 and then a lower one here at 195 to 195.50. So yeah, it just keeps coming off like that. This was the only opportunity I really had to sort of grind sideways, but back in the bearish. So hey, here's a good example of me being wrong right here. Well, it popped a little bit, but when it broke down below here, it renewed the bearishness. Okay. And one other thing I'd want to point out is this Arbab heat spread turn wheat turn bearish yesterday, which means that the Arbab is weak relative to the heat or the heat strong relative to the Arbab. I wrote about that in this is where these spreads help you. There are a lot of people don't pay attention to in the energies. If you can see right here, this is important to anybody trading this. Can you blow that? Can you blow that in at the small chart up so we can see it? There, that's what we want to see. Yes, let's take a look at that. Okay. So I put all these bullish trades on hold and I said the trade below negative 52.40 warrants decent pressure. And negative 52.40 is right where this line came in right here. And to give you an idea, you know, being short the Arbab today as opposed to being the heating, as opposed to being short the heating oil would have made you $1,200 more per lot being short the Arbab rather than the heating oil. And then we look at the cracks here to understand which of these is strong. I had said that the heating oil turned bullish yesterday and we're up, well, we're only up nine ticks, but the Arbab crack had turned bearish and that's down 75. So yesterday in the podcast I put out in the evenings, I said that the Arbab was the weakest out of the three with the heat being the strongest. And you can see here how much more, how much you would have been up $1,200 more than the heat and you'd be up $750 more than you would if you were short the crude oil. Well, it's a huge amount of premium that you get if you'd have that spread working for you. If you're trading the energies and you don't understand what's going on in those spreads, you're leaving an enormous amount of money on the table. And that's why as part of my analysis, I don't talk about these much on the show here, but I do these spreads even though they're very thin, not so much for the cracks themselves, but for what they tell you in the outrides, which of the three, either crude or it's two products to be short or long on any given move because the products will lead the crude oil in direction 85 to 90% of the time, which is a very real leading indicator. And if you want to look at it that way. Wow. Mike, I have a question. You could write a book about how to handle some of this stuff. This is great information. I think people will be interested in stuff like this on a book basis. Yeah, I mean, who knows? Maybe one day I will. If I ever get so busy. You've written a number of good books there. Yeah, well, you know, when you live alone, you're forced to write them. You haven't got nothing else to do. Well, I like writing anyway, because I give a little information here there. Let's take a look at a couple other markets. We've had this huge break in gold. What are you seeing in the gold market now, Mike? Okay. So the gold we just turned around two days ago. Let me, now let me just back up because last time we were on the show, I pointed out a higher timeframe thing in the gold, in the gold week. If you recall in the show last time, we had a C chart right here. We had broken above this, this key area right in here at, no, that's not it. Yeah, 205.72. Hold on a second. Excuse me. 2057.30. I got to get my nomenclature ready. And we rallied about 9,500 a contract. And then we failed back down through that. And then we got the bullishness of that off. And then on a lower timeframe, on the 60-minute charts. And so by the way, just for anybody who looks, you know, if you're viewing this and you're looking at all this writing, you're like, what is all that stuff, right? I've said before that a lot of this not hold most of the time. But here it says on 8.16.18, the break above 11.79 to 11.83, one of deep renewed strength. So this sentence has literally been updated every day since August 16, 2018. Okay, Mike, we've got to go now, buddy. We'll have you on again soon, so stay tuned. We'll be back. All right, sounds good. Thank you so much for being with us, Mike. We really appreciate it. Mike Moore, folks, more analytics. We'll be right back. It's December, Tigers. 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We rallied $0.09 in cattle. And then down again, you see you had another big down day. And then a rally. And of course, we've got another big down day here. And as we said, when we were talking just a little while ago, I said it appears that we're most probably going to be heading down to $61. That's what it looks like it wants to go to. And folks, well, excuse me, that says $63. And we just made it. That's $63.09. And the load today has been $62.50. Well, with this type of action today, we're probably going to start getting a rally, but this is something that, this three-drive pattern means a lot to me. And I'll take the loss. I'll move on, do something else. And that's, I mean, not for, rather than trading, but I'll just look at other things. And we are looking at a bunch of other things that look pretty good. And remember now, we've started, like what Mike Moore just said, we could be looking at $55 crude oil and gasoline easily under $1.80 in gasoline. And here it's dropped 65 cents a gallon this week here in Tucson alone, which is really a huge amount. But anyway, we should be near a bottom here in cattle. What I will do is give it a day or two and see if it holds some type of an action here. Because when we do get a rally, it'll be substantial. But some of these rallies are only five, six cents. I thought it was going to rally all the way up here. About 12 cents after this one came in, but it didn't. So you just move on and, you know, not worry about the next one. Also, we're going to be watching this gold market very closely. I want to get it up here because we're getting close to a bottom, folks. We'll be right back. Tomorrow with our guest is going to be none other than the wolf trader himself, Shane Smoyant. Live every day in an attitude of gratitude and may God bless.