 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, folks, we're gonna take a look at some of the stock indices. I've already posted the NASDAQ showing you that we have a one-point Excuse me an ABCD extension Going up to believe it or not 13,900 I Can't believe we got out of that 300 points lower. We stopped out of that for a loss and anyway What we'd also like to look at is the fact that the Russell we've already posted that is extremely weak Making it can't even make an ABCD at a 382 and then also the last one We want to look at is going to be the Dow Jones Because that has been one that has been oh before we do that. I wanted to do the Do this one more time here to see by the way, I got some sad news today Someone who I really liked I met him once or twice over the years at the money show was Sam Zell And he was a really nice fellow one of the smartest minds in real estate That the US has ever seen and they passed away today I don't know how old he was but I know he's a lot older than me But this is the Dow Jones Transportation you'll see here. We've had lower highs all the way through or even today We were higher earlier and then backed off quite a bit from that area so that's not showing a whole lot of strength and of course we need to look at the Hold on one second, and I will get that up here Hopefully eventually the Dow Jones and that's coming up right next to and you'll hear again the same thing in the Dow Jones We're not seeing much of a rally at all as a matter of fact We barely made it to the 50% level today, and then it started to back off again Remember it's the Nasdaq that is running the market right now, and it's doing it through these stocks like this one right here I've showed you Others but we're gonna this is the one in Nvidia, and I don't even know what an Nvidia is So I'm just gonna tell you the chart this is where I thought it was going to top yesterday and You can see here this exploded now if you didn't use a stop You'd be setting with a 6000 they see yeah through your $6,000 loss Because of your fact is we had some profits in here actually well We were doing a Nasdaq but then this thing absolutely exploded way up here. I mean it's gone 12 13 points higher That's why when these patterns fail folks by golly. You've got to get out of dodge That's that's what you have to do and the faster you figure that out You know the faster you're going to be now here's another one This happens to be softy Microsoft now This is one that has got a lot of players So there's a lot of people that believe in it a lot of people that don't but here again You're looking at a long-term chart here. It's a daily, but look at this big a bcd measuring up here two three 312 we've been as high as 316 so far today So we're in there where there also is another pattern also coming up into this area But these are topping but it doesn't make any difference where the top is if there's one or two of those eight or ten Stocks in the Nasdaq that just keep pushing and pushing and higher That's what you've got to prepare yourself for is to get out of dodge if it doesn't If it doesn't work the way that you want it to do one of the things that I did last night Of course, we were very interested in buying the gold and we had a beautiful pattern For buying gold today down at the hold on one second and I'll I'll get it up here So you can see it. This is the pattern that we had for the gold market Happened exactly two third well little before 2 30 in the morning because my alert Awakened me for two two reasons one was December corn hit the exact price and so did the gold So I saw what happened here. This is right there and we had a little bit of a rally and Since I was up watching these things. I said well, I better double-check What's going on in that gold market because I don't want to get caught in that possibility of a total meltdown So all I did was I went down to a four-minute chart and I wanted to see how the market handled that low at 1975 now remember this takes several hours to get here So for the next hour as you can see there were about 30 bars the next hour right up in here We made a 3-8 to of the high right back here And I said if we go below here, I don't want to have anything to do with it And so I sent out a video saying folks put your stop two dollars below our buy price at 1975 and if we get stopped out it's going to go a lot lower and as you can see Once it got stopped a rally back to the 3-8 to once rally back to the 2-8 3 the third time and right now We're just going sideways. So we're going to be looking at it again But again, this is the amount that you have to put on the table here Is how much you have to risk to see if we're going to be in the gold market? And I don't want to I after looking at that possibility of it going to 1905. We're not that far away folks That's only $45 and if you're down 30 today and 30 tomorrow But you could be there be there tomorrow as we come into a new moon And I'm going to certainly be watching the pattern to see if the ABCDs come together around that time because it'll give Me a place to enter the gold without risking to very much and that's what the whole thing is about The same thing in silver. Do you remember? Last week in silver we spent a great deal of time talking about this 3-8 to pattern That was in the silver and I think you've got because we repeat these over and over again when these patterns fail And there it was right here Third 23 that was a Thursday and Thursday and Friday had the same low 2391 and it rallied to 2448 folks it rallied 50 cents or $2,500 and then we came back through it And that's when Katie and we're below here right now So we're coming down sharply from that letter now when that happens What you want to do as a trader is just find out where you should reverse your position So the first thing you do is you move to a 15 minute chart These are things that we'll be talking about when we do a live day trading thing again You just switch over and we'll be doing this whenever these markets are there's your there's your three drive to a top pattern You can see that there's drive one drive to drive three that makes this an expanding triangle a T a T6 is what mr Gartley called it Wells Wilder called it a broadening top one two three four five Beautiful three drive to a top pattern. We make a perfect Gartley right here Then we make the first 382 then there was a report This was a 382 off of the high and then you can see you had another 382 right here and another 382 And they keep going odd infinite him until it finally reaches that bottom That you're gonna have to calculate for tonight to see what it could be tomorrow because we've got another report Coming out tomorrow, plus we have all the cycles that norm talked about today. So That's what we're doing as we try to un unravel what we're looking at here in the thing What I tried to do here earlier today was to see the other possible unraveling in the NASDAQ and I'll get this up here to show you because I Watching the 382 perform in some of these other markets that it acts pretty good And there's a trick to knowing which one of those ties to pick but there's your 382 And of course you started to started the market has started to Move down only slightly from that level, but we're quite a bit lower right now at 1758 we'll be right back eight seven seven nine two seven six six four eight currencies commodities and bond markets are as important as ever right now with how they're driving the Volatility in equity markets across the globe, which is why it's a great time to try out Teddy keg stats tiger 4x report Teddy keg stat breaks down the 4x markets every Monday using his 30 plus years of experience as a trading veteran of futures 4x stocks and options Teddy releases his weekly tiger 4x report every Monday morning with coverage of all the major currency pairs Including the dollar index the euro dollar pound dollar dollar Swiss dollar yen as well as many more And he also has weekly coverage of the crude oil market and the 30-year t bonds as they both influence 4x markets tremendously When you sign up for the tiger 4x report you also gain instant access to Teddy 60 minute webinar archive He just hosted 4x strategies and fundamentals What is behind the tiger 4x report for all the details and to start your 30-day tiger 4x report subscription today? Visit the front page of tfnn.com tfnn educating investors Tfnn has just launched their new trading room 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 And now they are expanding their reach with the tiger's den available to all tigers and Tigris's for just one dollar for the year There's no catch or added costs when you join our community of traders in the tiger's den You can look over the shoulders of Tom O'Brien and the other tfnn hosts while they analyze charts during their live tiger TV programs And join an interactive trading community with hundreds of members exchanging ideas Interact with other tigers and Tigris's as they share trading ideas news analysis and discuss the market action all trading day Even at night and on the weekends the tigers den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of tfnn.com Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded tfnn over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio Get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money-back guarantee at tfnn.com Tfnn educating investors toll-free at 1-877-927-6648 internationally at 727-873-7618 Folks, I posted the chart of the euro showing that 61% retracement up there at one dam in our trading at almost 106 We don't know how far this thing is going to go down But what we've been doing is following it down on a smaller time frame to see You know what levels we should probably expect if the market continues to go down at any time It can reverse and then you'll have to stand aside. But as you can see here There there this was the first 3a2 right here remember 110 and then also you had another 3a2 right here Another 3a2 right here another 3a2 right here and then down right below this level This is the area where it's most probably going to find the most Positive time for a support because it's going to be the 1.618 expansion of this swing and this swing You see these swings that are measured right here that takes you down to there and this swing here takes you down to here That's why market here at that 106 that that's going to be the most logical place To take a profit now sometimes you take a profit there and it just keeps on falling But that's the name of the game. But even if that happens You'll be able to see the 1.3 twos on this because this is most actively traded thing in the world And it's pretty easy to see, you know, what's going on now being A friar Thursday and the day before the 19th, which is an important day That's the day little Avery Sarah's grandson was born. I can't believe he's 12 years old He's got the IQ of an 18 year old already But boy, he's one smart kid and he's a very very good athlete, but we're going to go over to germany Now actually we're going to go to london. Let's see the german index Stop the front door and raise the rent Let's get it up here. I keep hitting that red button. I don't know I don't know why that is but that's it here as you can see here We are also in a down move here in the Dax. We've had these lower tops through here All all it needs now is a nasdaq to weaken up a little bit tomorrow folks and we'll see these markets that continue to move lower But we still have a chance for that e-mini s and p to make 42 22 on a spike either tonight or tomorrow morning Some kind and we'll be paying very very close attention to all of these indices Now the next one we're going to look at here is the footsie, which is the The london stocks, but most well all of these these stocks are foreign stocks folks. There's not I don't believe there's one one stock from from the uk In this if there is it's it's not very well Subscribed to I don't believe but most of these are just foreign stocks that are traded on the london stock exchange That's basically and as you can see we've been in a downtrend for quite some time We've been up to the 61 retracement twice Now you can see it's backed off quite a bit whether it holds this 61 or not We'll find out tomorrow But you see if it starts to fail and goes down from here You're going to be looking at a big a b cd to the downside folks When you give something that's happening in the nasdaq now that's only a handful of stocks That is not the stock market. That is One second segment of the stock market that is heavily weighted and you don't want to stand in front of it. I That surprised me, of course, I didn't know nobody knows but when those things fail like that You just got to get out of dodge just like the gold today folks and even the corn could fail But what you can do is you can protect yourself by following what these numbers are doing To give you a little bit of a break saying yeah, maybe this is not going to be as bad As we think it might be okay, so let's keep that in mind as we look at some of these things Unfolding here now here is a I'm going to reiterate this because we've got this New moon coming up tomorrow You see the the the real Significant bottom here at the a b cd 1.618 only lasted for about an hour And then once that failed it failed dramatically That set up only one other number that's out there folks. And that's the number of 1905 That's about 50 bucks and where we are right now. So tomorrow Stop and think folks. We went from 2080 to 19 to 40 we dropped a hundred and $40 in about two weeks. So to go another $40 in a couple of days is not a big deal So we got to be doing our homework tonight and find out a really good place just like we did today. It was a good place 1975 the problem was it didn't stay a very good place for very long and that's why we got out and why I reverse I just don't reverse folks And and I spent so much time with mark douglas See said larry look at your trades that you get stopped out of how they reverse And you know, I've changed a lot of things over the last few years after meeting You know tom hugart and watching his success and seeing 3a2 I have to figure out a strategy to just reverse and go short because Two things are happening at that point. One is the pattern is failing Which means it's going to the next big pattern And the second thing is is that you're trading in the direction of the trend Whether the breakout to the upside or the breakout to the downside All I have to do is to quantify what the risk is and I should be able to do that And at my age right now being 52. I think I'm 52 or 53 somewhere in that ballpark Um, that's what that's my IQ something one of those numbers is in there somewhere But if I can learn to Discipline myself to do that and I'm going to have to try it because I watched it the last three days That every single time one of these things Didn't work. It was not a little winner a huge winner I mean that that's a thing that really Troubled me, you know more than more than anything else. So I'll be working on that very very Hard over the next few weeks if I can, you know, bring some information to you We'll certainly share with you what we're finding out But when these patterns fail boy, they fail badly most of the time you very seldom see one that You know fails and quickly reverses that You just don't see those. They just keep they just keep going In fact, one of the best traders that I've ever trained those down. John Lewis down in Nashville, he was an options trader and all he did was he broke Whenever seven eight six patterns broke to the upside. He was a buyer if they broke to the downside He was a seller and he was tremendously successful Using option strategies to the tune of huge amounts of money He passed away. I think about 10 or 15 years ago But he was very very good at what he did and made a whole lot of money Just by doing those breakouts and especially the seven eight six and When it went above the 1.27 he he was extremely active to the Adding and then went it went above the 1.618, which isn't very long. He was active there too And those were he just kept adding and adding and adding and and then when they reverse he would be stopped out and he'd look for the next trade So that's what it's all about. Tommy terrific. Tom who guard does pretty much the same thing He's selling those breakouts to the upside and buying the breakouts to the downside That's what he's watching for because that's what gives him the edge That he knows that the trend is strongly in his favor and unless it reverses right away You just get on that horse whip it a few times in the old kabuki and Might give you a really nice ride to the finish line So we're going to take a break here. I believe we've got some bills to pay and then we'll be right back eight seven seven nine two seven six six four eight The gold report As a precious metal gold is still king It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london OTC market the u.s. Futures market and the shanghai gold exchange the gold report Tom o'brien publishes his weekly gold report every monday morning for subscribers consisting of coverage of the xa u hui gdx the dollar bonds the south african rand As well as 25 different mining equities with specific buy sell recommendations The gold report New subscribers get a 30 day money back guarantee so you have nothing to risk subscribe To tom o'brien's gold report newsletter now at tfnn.com Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts at tfnn You'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv Live every market day from 8 30 a.m. To 4 p.m. Eastern for free Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world From the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts To help you make the right moves with your money Watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors 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 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, we've got jeff in new jersey calling in about a gartley pattern question far away my friend Hi, thank you larry This question is about Reversing off the d-point right so you see the abcb and now you're going to fade that d-point go the other way My question is sometimes When you're reversing off that d-point you're heading in the direction of the overall trend and sometimes you're going counter to the overall trend and i was wondering if you had any statistics on when The gartley hits that 618 of the ad move, you know, that's like the primary target If the target is hit more often when you're going with the trend or Going counter to the trend because the gartley is actually a you know a bottom or a top I don't have any statistics on that jeff. I've I've thought about doing it, but you know, it's very heavily Acclimated to programming that i'm not very good at All I know is my experience sitting here for six years with mark. We watch those Patterns fail and I mean it was I don't know it must have been a high number somewhere Around 85 or 90 percent of the time that it would make money Just by the fact that you know you hit the d-point it rallies a little bit just like in gold And then boom once it breaks it, you know, it just goes into a whole new thing Which means there was a much much larger pattern out there That you didn't see which that happens all the time and that's what you always have to be aware of but I don't know You know jeff this would be a good thing for you to look at my friend because you're pretty good at this So let me know what you find out because I really believe that when you fail at those d-points It's a place to reverse and not only that but you're trading in the trend In the direction of the trend it really makes it a positive type trade But I I just don't it's just my my mentality jeff and I've been doing this for so long I have certain things that I do better than others and years ago I've tried to reverse and every time I tried to reverse but I can't remember why I did it out of frustration Or you know, I I didn't do it scientifically. I'm sure of that So I don't have the answer to to what you're asking but if you want to do the research I will be happy to report it Okay, I will add it to my list of hundreds of studies that I That I've written down for myself If you see a good garlic pattern, you'll take it either way whether you're going into the trend or not. Yeah They're gonna they're gonna they're gonna win they're gonna win two out of three times They're gonna give you three to one payoff and the ones you lose you just go on to the next one I'm really good at shaking off losses because I have them and I just I just move on to the next one and say Uh-oh, here comes the next phone call. It might be another sale. So that's all I do is get ready for that second one And when I'm ready, I go for it Gotcha, okay. All right. Well, thank you. I I will uh do that study. I have a log of Quite a few garlic patterns, but I haven't been keeping track, you know If I was going in there with a trend or counter trend But I I will start to keep track of that and see how it goes Actually, if you get a sample size of 200, you're going to have a really good idea of whether it works or not You know 100 is the minimum, but if you get 200 You have a really good idea which one's working which ones don't so keep keep notes You know what I have a log of over 800 Gartleys and butterflies mostly Gartleys over the past three years approximately So as long as that the charts I'm sure it can go back that far some of the charts are available I can go back, you know, just follow my log and sure and see that's right. No, I can do it Okay, and if it starts working the excitement will be so much. It'll be like a heartbeat You'll be done with very quickly. Okay, and if it's good only share it with me. You'll keep it. We'll keep it ourselves. Okay No, we can't do anything you want larry. I owe you because if you turn my trading life around Well, I'll tell you what if I did it that way It would really be the wrong thing to do because if you keep something to yourself It's worthless if you give it to somebody else Yeah, you've got something good going in your favor. That's how I've lived by From my mentors, you know, all of them were the same you find something good you share it and that's the That's the way that I've lived my life and and it's been a lot of fun. You meet a lot of nice people Along the way too. Okay. Now one thing we want to do now is let's start looking at a couple of these bank stocks folks because This ain't over in this banking industry thing So let's get up here. You'll see here. This is Bank of America If you let's get I got to bring the stock up I'm gonna the either reason why I'm telling this folks This is not over yet. It really isn't look at the Bank of America. This is a bullish stock. Are you kidding me? Yeah, we made a potential little double bottom in here But we even the strength in the markets that we've had the nasdaq and the s&p this thing's done nothing I mean, it just doesn't look very good at all There's something wrong Let's take a look at another one here. This was the this of course is an investment bank goldman sacks But even goldman sacks is not acting like anything, you know, the things are looking good at all We got lower tops. Look at these lower tops and lower bottoms. Goldman sacks is in a major bear market boys and girls Look at that There you're in a downtrend. That's all there is to it, you know, so Got lower tops lower bottoms. That's a definition of a downtrend and that's that's one of the major banks Take another look at another one here This is morgan stanley. It's one of my favorite banks because I know jim gorman and he's a very very astute CEO But then again, he can't control everything but here again There's not many people willing to come in and and think this is a good buy at this level Look at this these little tiny bounces. There's there's virtually nothing here Now this might change in a day or so it might not change at all But the fact that it's not going up right now Makes me ponder about some of the other things that are going on as far as the distribution in the market The fact that the nasdaq is all strength by itself and we've got the Jones transportation very good, but if you want to see a really good bank Let's take a look here. James peerport morgan jp morgan Run by jamey diamond and you can see this is a very strong stock We've got higher bottoms higher tops all the way. So this is nothing short of nothing wrong in the banking system But this one if this one had a problem folks Believe me our dow Jones wouldn't be anywhere near where the price would be because this is one of the dow stocks And it's been holding the dow up quite a bit. So that's another one That's very very important and then of course here is the one that is Not one of the better banks in the world, but Certainly is a big one in that city bank We'll get this up here and take a quick look at it And you'll see where we are here with city bank and then I wanted to share One one other part of this city bank because of the fact that it is You can see where it is on the long term weekly. Remember this this This red button has me mesmerized This this bank has been going down for years. Do you remember it it reverse split? I forget 10 20 30 to 1 whatever it was Just so people could buy it because if the price gets stock gets too low They can't buy it. So they had to reverse split To get the price up and it's still been going out even with that So this is not a very well run bank But it's telling you that you have to be careful and jayme diamond has warned People that there's something out there and of course, you know, mr. Beffett has always said these ETFs are weapons of mass destruction And uh, you got to worry about counter party risk on some of these things folks if it starts to come Remember that term counter party risk and that means who's on the other side of the trade We'll be right back eight seven seven nine two seven six six four eight Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure but you also need excellent instruction from experts at tfnn You'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either Tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv Live every market day from 8 30 a.m. To 4 p.m. Eastern for free Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world From the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts To help you make the right moves with your money Watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be Educating investors Everything in the universe is governed by the fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns, you can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis After all he's got 45 years experience as a day trader larry will also provide daily charts Videos and data on the key markets that he's tracking Expect notifications from larry on market movement. You need to act on at any time First time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up Subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors Are china a shares hot or not if you trade china a shares now may be time to take a closer look trade chau or chad Directions daily csi 300 china a share bull and bear etf's china a shares in either direction Visit direction investments.com 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 eight six six four seven six seven five two three 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 llc This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Hey folks, I posted the chart here At least I hope I posted the chart here. I don't can't see whether I did it or not I thought I posted the chart of the live hogs, but evidently I did let me get it back up here To show you this is the june hogs and I wanted to show you the abcd pattern three drive That we had and we had a pretty good rally, but you see the trend is still down You see the rally just barely gets to the 50 percent then backs off It's the first time that if this holds we can look for a potential abcd pattern up here But the live hog market is a lean hog market is really Really looking at rather suspect In here much like some of these other Agricultures that look really really really terrible. We're not too good now. I wanted to Bring up the crude oil here in just a second if I can find it I've just did it and I'm searching desperately To find it and I think I might have to switch over To the trit treasury bonds Just to make sure I get this in because this is the one that's more important than than the Than the crude oil anyway, but let's get this chart up to take a look This will be the focus of the Thing tomorrow because we got a crop we got this Economic report coming out. We got the new moon and a bunch of other stuff. So This is the number folks right here 27 127 05 Remember folks up right here is where the trend changed We had the retracement here. Then you had the lower top This is remember we were we were real we were long all through here Then we got short we caught that first money. We caught that rally right here We didn't get short fast enough because the market didn't reach our level and we missed this last part But now where we're coming down to now folks. This is a perfect guard. This is no different than the one in the corn a Bcd coming in at 120 705 Our high up here. You see the 61 percent retracement was 123 something 120 134 we got to 123 20 or something like that missed at that And then you had this level right here, which is nothing more than the head and shoulders pattern And now that's completing right here. And if you look at this You've got an a bcd right here And then you have a 135 pattern coming in right at that point So the next thing you got to do is measure from your low to the high and that's it And we've got a call from mike in virginia. What can I help you with my friend? Hello, mr. Larry press event A true follower from your work. So I appreciate all the words that you do on harmonic I have the following question regarding garley pattern Are or are the b points on the structure on m or w formations reliable or Or relevant if the b point presented 50 percent retracement or the point 618 for the golden pocket And so which one are more You know, that's a really a hard it's a hard question to answer But I've always relied on what albert einstein said. He said mathematics proceeds geometry So if we're dealing with mathematics, it would be the point 618 would be more important to the d level But I try to look at them together Because you know, I'm a trader. I'm not a astrophysicist or anything like that All I'm trying to do is to get down to what I think is the best possible price And if you were thinking about that in the gold market right now Mike that number would be 120705 so within 15 points of that or $500. I'm willing to take that risk but The einstein said in in some of his papers and and I didn't read the papers Trust me like that. That's a tiny bit over my pay grade like 150 levels But but brice gilmore did and he said that einstein said that mathematics proceeds geometry And if someone Mike like einstein says that's good enough for me So I rely on the numbers more than I rely on the d-point. That's the answer to the question That is an absolutely brilliant answer and thank you so much for your time. Mr. Esavento And I appreciate your work. Well, thank you very much, Mike And I'll get that $20 bill out to you just as fast as I can have a winning trade and We'll see where it comes today or not or maybe tomorrow Thank you so much you bet. Thanks for thanks for calling in Mike, but it's true. That's what einstein said So we'll go from there The trade of the day tomorrow will be watching this little puppy right here folks You've only got a couple minutes, but this is where the fat lady is going to sing tomorrow I believe especially with all this stuff that's going on. Let me get this up here This is not for the faint of heart. This is like trying to do something in gold at 2080 But we've got this big a b c d that just about completed. We missed it by a hair If we could get up a little bit higher here today to clear that 13,900 when I say 13,900 folks Do you realize how bearish I was at 13,494? And it was a perfect trade that had a $2,000 profit and it twice ended up being an $800 loss So that's why I've got to keep a close eye on it You know, I might miss the boat But what I do is I get back on the shore and wait for the next boat to come by and that's the boat I'm going to be looking for there's a lot of things to do now This is the weekly so there's a lot of things I have to do in this chart to get it ready for tonight That we're going to be watching it and even if it's not the top and and we don't get the top It'll tell us that we've got a place to go on because all of these markets Just here's a perfect example of silver if you miss this If you miss the top in silver or you miss the top in gold, it's no big deal because guess what They sell tickets on this train all the way down. Look at that beautiful Gartley right here a bcd A perfect 382 off of the high Perfect 382 perfect 382 They've got tickets on that train all the way down boys and girls and that's what you got to try to do And if you miss it you miss it and if you get it right you get it right It's not how much money you make It's how much money you don't lose because trading is a journey It's not a destination. You'll always be learning having fun along the way But that's it perfect example of missing something had you missed the top in the euro Look what happened to the euro on the way to Where it is right now folks all the different chances that you had to get on board that train Remember we were in way over here. There was a 382 here 382 here 382 here 382 here 382 here and we're heading down to that 106th level So that's what we're watching. So I hope these things help as we look at these each day Have a lot of fun doing it tomorrow our guest hopefully is going to be Bill meridian of cycles research always got some great information He's one of the premier cycle guys around He's one of the the best guys at foundation for the study of cycle has for a guest with a seasonality and his experience And he'll be on as our guest tomorrow and he'll will spend more time with him Tomorrow then with me because he has some stuff that you have to see that is really really quite important So remember that and also remember that When we look at these charts, it's not about how much money you make It's about how much money you don't lose you've got to put a stop in a perfect example Is this nasdaq today? Look at this thing this thing this thing took off because of this particular stock And if you were standing in front of it, it just runs you over Not only that it destroys your trader's soul And then you're in big trouble because then you don't want to trade anymore because oh I screwed up One idea wrong you got to forget it move on to the next one. That's all you have to do This is not a game of life or death The game of making a couple of bucks. Let's take a break eight seven seven ninety seven six six four eight 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 Technicles 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.com 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 and stock prices Get the opening call newsletter by basil Chapman and your inbox every day First-time subscribers also get a 30-day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors Everything in the universe is governed by the Fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns, you can take advantage of sign up for the Fibonacci 24 7 newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader Larry 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 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 Tigris's for just one dollar 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 Catch Tom O'Brien professional trader and educator founder of tfnn Also a special guest on CNBC. Tom will bisect and dissect the markets The Tom O'Brien show next on tfnn Wanted to put up a chart here. This is the weekly NASDAQ and as you can see it's been soaring Huge up over 200 points today based on some of these stocks like NVIDIA Meta face and Microsoft and Apple Google they're all up not like this not like the the NVIDIA that's just going Ballistic it looks like a rocket ship, but we're getting up to a abcd 61 retracement on the long-term weekly So i'll be focusing on that this afternoon. Also, we've got a big breakdown in this gold and we want to be able to You know see if we can take advantage of a bottom coming in in gold Maybe even as low as a 1905 level. We do know that that 1975 didn't hold for more than about 10 minute Well half an hour, but it's still going lower one more push down might give us one of the better buying opportunities in gold In in quite a bit. So let's remind us now. We've got the gold specialist coming up himself Tom O'Brien senior. So listen to what that man has to say folks He was the man. He was buying gold at $2 and 30 cents $230 an ounce back in 2001 and I know he wrote it up a long way remember from 865 folks It took 20 years to get down to $230 and from $230 we've been up to 21,000 twice now And I 21,000 2100 and I think we'll get to 10,000 gold Maybe not in my lifetime, but we'll be able to see so stay tuned for tom o'Brien to tom o'Brien show I'll see on the flip side tomorrow friday. My guests will be bill meridian Of cycles research. You don't want to miss that. So Live every day in an attitude of gratitude and may god bless And please do something for your neighbors and friends out there folks because a lot of people Are really really hurt. So we'll see you tomorrow