 The following is a presentation of TFNN. The Tiger Technician Hour with your host, Basil Chapman. Call now toll free at 1-877-927-6648 internationally at 727-445-1044. Now, Basil Chapman. We're back and I want to do a bunch of questions came up and this is the Tiger Technician Hour. My pleasure to be here on this 25th day of April and we're looking at the Dow down 118 S&Ps up three. This divergence I'll explain in a moment. Let me just show you the two-minute chart of the E-Many in the five minutes. From the low that was made this morning at about 10.30, around about the 29, 14-ish, 13-ish area. This is what we're looking at. We've had a really strong spike to the upside all the way to the 29.34 area. And now we're pulling back to 9.32. Made a peak E in the Chapman wave two-minute chart. This is a B, but it's a gray B in the in the daily chart. We're going to be watching this closely because if it holds steadily and it makes a push above 29.37, that's going to start. We're going to see that'll be very positive. So what I am looking at is this V-shaped chart at about 8.30 this morning. The S&P E-Many's are trading about 29.35. Got a little news. They started to pull back and started to rally and then it failed. Then it failed. They went down sharply. Now we've got a V-shaped pattern and we've got a left-side, right-side price time match that says by 12.35, if there is a spike, that's a spike that should take it sharply above the high of 29.35. But if there's a pullback underneath the 29.28 area, underneath the 200-period moving average in this five-minute chart, that 29.30 will look out for lower prices. All right, enough with that. Now let's get on with the nitty-gritties of the real story. The dollar. The dollar is acting beautifully. It's at 98.17 right now. It's gone to that leg D. Look at the pattern we were looking at before. Got this cup. Not exactly a cup and handle formation, but it is a cup with a decent breakout to the upside. Finally, we've hit the 98. So we've been waiting for that for, I don't know how long, but in the Chapman Wave methodology, this is a cup and ladle breakout pattern. So we had a little mini one right there, cup and handle breakout. Goes to at least a D. And in this case, we've gone to a leg D. Now we're going to see if there's continuing strength because the MACD has turned up in the weekly chart finally after breaking down back in late December. It's taking its time getting back, even though the price has been quite good in the dollar. Hey, look at this. 82% in the stochastic. That now says that's a sign of some kind of stability. How long you've lost? We don't know. But it's leg C finally, a very strong leg C. Even if it doesn't close you, the actual fact that it took out the 97.71 level and went to a high of 98.32 is really important in the monthly chart technically. And the MACD and stochastic are very good. That takes us to the goal. The goal is really struggling here. It's trying its best to have another big bounce. But you see that trend line that I spoke about for all of this week, I've said, this is a trend line that needs to hold. See, it goes from the 1167.10 level in the continuous contract. Let me see if that's the same number because it does get smoothed out in the changes. So the low is 1186.2. Okay, so it gets smoothed out. Whatever the low was on the week of the 17th of August, fabulous run up to a leg E in the left side, right side price. Time match in the weekly chart. Then it starts pulling back and it's been under both the nine and the 14 period moving average having failed to hold above the 200 period of 1.1315. It's testing. It tested earlier in the week there at 1268 level. I'm looking at this and saying by Friday, if there is a close underneath the low of 1267.9 that was made this week, that's going to be a big negative for gold. But so far, it's attempting a bounce. I think the dollar is still a little too strong but it isn't a leg D. This is where you could start a leg after the downside in the gold daily, a leg D to the upside. We'll see what happens here. Let's look at the silver. Silver contract has been doing its own thing lately. It's not as good as the gold three day chart looks better than the three day chart of silver. Silver is down 0.06 at 14.91. Not so great. I just wanted to quickly do this one. Have we seen a turn up in wheat? No, this wheat is still down a quarter of a point at 432. Have we seen it in soybeans? Soybeans trading at, it's up 2.25 at 8.57. Yeah, it's a start, an attempt to start a move to the upside because I'm following these grains real closely. We do have an ETF. It's underwater. It's our first experiment in trying to trade grains and we've taken a small position and it is down a little bit. And now we're looking at corn down 3.25 at 346. This is a really important candle. You want this candle to see up moves all of next week. That means maybe the dollar will be pulling back. We'll see. Okay. Meantime back if the rations get back to this, I want you to look at the EURUSD because that's the currency of importance. It made a lower load today. The weekly, actually the daily weekly monthly charts would be absolutely terrible and the stochastic isn't low enough yet to say that I think we're making some kind of a bottom yet. We are starting to attempt a bottom but I don't think it's made it yet. I said one, one, one area. Just got to hold that over the next couple of days. If it can bounce, it has to bounce all the way to the 127 area. 1.127 I should have said before. I even get any confidence at all in a sustainable rally and the, oh, look at this. This is the YEN, the USD, J-P-Y currency pair, dollar currency pair. And it just made a leg D with a very sharp move to the downside at 111.59. It made a new recovery high, leg D in the daily at 112.405 and a leg D in the weekly. So watching this closely because the monthly chart is repairing a lot of damage. It's not great. It's just a repairing damage. Okay. So now I wanted to talk about a bunch of things that I think are important. I'll just first do the TLT. Now you can look at the TLT down 28 cents. If the TLT actually starts to rally, this is the Lehman 20 year T-bond fund starts to trade in the 124.80 to 125.20 area. As the market is pulling back, I don't want this divergence of the S&P up and NASDAQ up and the Dow down sharply. I want to see them all in concert in the same direction. In this particular case down, that would say that bond, money's coming to bonds as money comes out of stocks, not yet. Okay. I think I've covered a chunk of stuff that I want you to do. Okay. So here are the things that I want to look at. Semiconductor. So we have no position now at this particular point in the semiconductor index, although I was so tempted to go back to the short side. 120.71 was the high yesterday. I'm going to type that in, because I think that might stay for a little bit. Maybe for a day. 120.71, only a late scene in the weekly chart and I'm not sure what the monthly chart is, but it's a huge breakout to the upside. Now let me show you something. I showed subscribers. I was sent this yesterday or day before and I thought it's really interesting. North is from one of the newspapers. North American semiconductor equipment industry posts March 2009 billings. I mean, this is billings. So North American based manufacturers of semiconductor equipment posted 1.8 billion in billings worldwide, worldwide in March of 2019, three month average basis. According to the March equipment market data subscription, EMDS Billings report, published today by SEMI. The billings figure is 1.9% lower than the final February 2019 level of 1.87 billion and is 24.6% lower than the March 2018 billings level of 2.43 billion. So in other words, look at this chart right here. What it's saying is September of last year, 1.2 euro over euro. October 0.5. November minus 5.3. December minus 12. January minus 20. February minus 22. March expected minus 24. I'll be back to talk about that. The TAS Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. If you were in a bull or bear market, a good strategy is to have the tools needed to help you scan and analyze the markets before you trade. 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See for yourself how you can harness the full power of the TAS Profile Scanner by visiting the front page of TFNN.com today, and you'll find the TAS Profile Scanner under the Services section. Remember, with a 30-day money-back guarantee, you have nothing to lose. Don't let another day pass you by without trying out this amazing piece of software that will revolutionize how you look at the market and how you place trades. Sign up today. TFNN has launched our brand-new website. You can still visit us at the same TFNN.com URL, but when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high-definition, or if you're watching a new video, you'll find the TAS Profile Scanner under the Services section. Sign up now for only $97 a month with a risk-free 30-day money-back guarantee and a free TAS Profile Scanner under the Services section. Hi, everyone. Basil Chapman, Tiger TV. This is our back. And what I was doing is I was telling you about the minus 20% and minus in the North American Semiconductor Index. This is the equipment industry hosting of the Billings. In February was minus 22.7. And the preliminary March is minus 24.6%. Now, I really am a believer in the technicals very often have an inclination to predict technically better than fundamentally when it comes to major turns. And if you're looking at this chart of the SMHs, you'll see that from the low of, first of all, the March high of last year, 114.55 plummets down to the 80.71 area and then has a rally in the shortest period of time to all-time highs. And I was anticipating that we would get a rally but I expected that somewhere around the from 80, I thought 97, maybe 100 and 102. That would be it. I didn't think that. I thought maybe 96 would have some kind of a pullback and then we slowly start to see the fundamentals where the Billings start to improve. I'm just saying that there's a big discrepancy because if you're looking at six months which is what sometimes what the market looks out for all-time highs would say that there is going to be an absolute record amount of Billings coming up going into the year and certainly for the next, the first few months of January, February, March or next year. That's a tall order. So I think there's going to be some regression to the mean here. Maybe we start to see some digestive phase in the semiconductors over the coming six weeks to maybe two months. I don't know. This is just what I'm thinking out loud here because it is extremely unusual to have this kind of a disparity. Look, June by December right was the love. Now you've got January, February, March, April we're almost done with April. That's four months but you haven't had a pickup in fact you've had an increase in the decrease. So in the decline that is. So I something's wrong with this picture. All right. So I'm looking at this as scans and I think that when the semiconductors and the XLK which is probably at a record high today it did make a record high 7924 was yesterday 7946 is today still a D going right into the resistance the resistance zone right there. That's the Chapman wave technique identifying highs and enjoying a very narrow channel but nothing to do with up channel it is a mini up channel. Nothing to do with the bigger picture. This is just to say that's the area where there should be a repellent where the price hits a lot of resistance and pulls back. So that's the XLK the S&P so they take spider fun. Okay. So I'm just trying to put a picture together here to say very unusual very unusual in the doubt to have some real big winners like this but some big losers. Let's see what Boeing is doing today question about Boeing our usual question about Boeing. Yeah, it's up about two at 3774 and I just think that they stuck for now. Let's look at the XL let's see what the actual airline index is doing the look at that made that oval pattern still stuck really in there. I'm going to keep this as an oval pattern. That's a B- I'm sorry B right there and now we've had a little mini a to B right here look a little mini a to B okay and I'm going to extend that so what we're really looking at is a suck in a trading range in the lower range of the monthly chart which had a higher all-time high of the 124s promise down to the 86 area good 20% ready not there was less than that 18% and now it's sort of stalling but holding okay. So that's going to be very important. Let's look at the IYT if you're looking at this down two and a half at 196.73 made a new recovery high not an all-time high 209.44 was the all-time September high 2018 promise to 179.55 oops 155 and now it's running quite nicely. We are still long out position here. I like this I think this is holding very nicely and that magnet line right there 199. Let's see if that can hold well. It did test the 14-period moving average since it broke out above it way back on the 28th of March we're looking at a daily chart a close below 194 would be a negative and say you know what it's coming it's going to be pulling back. Question about XLE the XLE is the you know we got XLE is the SMB Select Energy Spider Fund made a leg E and then a peak E in the daily chart for a bit of a pullback bit of a pullback I might have to put it down here at the end of the day at this point we just put a red plus sign and that's a leg F this is one of the quickest not the I've seen quicker than this but this is definitely one of the quickest peak A rest peak B one one bar rest goes to leg C then it goes to a three reconsolidation and it goes to a leg D one reconsolidation goes to leg E that's gone to a leg F just going to recycle but at this point I'm just calling it right now very quick peak A to B to C to C to E and now we're going to leg F is this F slash B at this particular point I didn't make any changes we don't have a position it's above the 9 the 14 period moving averages the magnus gets the casings pulling back still at 90% very good on balance volumes pullback then it just play out for another couple of days I'm not going to draw it here because even though Crudel even though Crudel's pulled back just a little bit the last two days it's at a higher level consolidation the 200 period moving average in the weekly chart at 65.01 and that's a magnet I think in fact I'm going to draw this I'm not going to draw it as an oval I'm going to draw it as a rectangle to say I would not be surprised if this is a trading band for a little while I just stuck between the 66's even 67 on the high side and 61 to 60 on the low side okay so that's that now we have some interesting things look Microsoft and if I update it there's Microsoft leg D today in the weekly chart a whopper of a move in the upside F slash B in monthly chart this is very good action and a gap up if this is a Friday I say uh oh but it's a Thursday so we have to wait for tomorrow a gap up with a little doji candle leg D and that all-time high 131.37 I'm going to type that in just so I've got it as a reference point 131.37 that's today so I'm like a very light color but it doesn't get in the way of my analysis I think that at some point Microsoft will be filling in and be going to the 122 to the 119 area but in the meantime this is outstanding action I think the market should be getting a little time extended this is but fabulous earnings and everything I don't see any reason why it shouldn't hold very well on pull backs and that was Microsoft what was the other one that I was thinking of I just wanted to see what Disney's doing I wanted to show you a particular pattern right now Disney is in a very strong leg D that's also helping the Dow it's up 295 138.05 another 130 you tell me is Disney an industrial of course it's not an industrial it's entertainment that's more cyclical look at that major breakout of the monthly chart so we were looking at the Dow and I've seen before I think the Dow is going to really interesting make up it's the first time that I actually look at it and I'll look at it as I used to years ago look at the XMI the XMI was a real mix it still has a mow I think it is full of Morris but the XMI the Dow is taking that place because it's really an ideal 30 conglomerate I think there's one too many finances maybe even two I think they should have put in some one of the brokers instead of say American Express but I think it's got a good mix to tell us what the markets really do I'll be back in a moment the Dow is down 114 Basil Chapman Tiger Technicians since 1984 Basil Chapman has been using the Chapman methodology to advise traders of his expert market opinion well originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Basil found the computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com cancel at any time during that trial and pay absolutely nothing get your two week free trial to Basil's newsletter the opening call today by visiting TFNN.com the path of least resistance is David White's daily trading newsletter and if you're looking for active trading ideas then now's a perfect time for a 30 day free trial to this powerful daily trading advisory service David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter using a combination of equity trades along with options David keeps his subscribers up to date with all pertinent market information with intraday and soon updates when 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ABC's Butterflies and much more the art of timing the trade charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks or even months searching to find and right now we're offering licenses available at only $79 a month we are so confident that you're going to love this new charting software that will even give you a 30 day unconditional money back guarantee available new piece of software get your copy of the art of timing the trade charts today by visiting tfnn.com 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 I want just to refresh the song here maybe new to my methodology try to identify the lowest lowest bar and you can't eat successively high at peak peak B peak C peak D is where other things can happen happens often enough for us to make a big deal about that peak B D because that's where you could recycle higher now the other thing that's really important is within the context of this particular pattern I'm only looking for arches and cups that could be V shape formations but it's basically the same thing okay from one level up back to that and test it or one level down and then back to that level test it and you can get a pattern that I call the lowercase h that if you take out the left side low it's very negative on the right side it's the upside down h or the y inverted y you take out the right side on the left side high on the right side that means a bunch of other things so let me get back to our story here you'll see here's a PD and RS Ryan Steele it made a high today I'm sorry it made it earnings announced must have been good it's up at 195 it had a high today of 92 41 trading down from that high but still up at $95 but look at this monthly chart it's just been in this choppy sideways big sideways pattern between 68 and 96 and now it's trading at 90 90.77 trying to hold that the SLX which is the ETF for the steel sector back to steel ETF made a peak D there is another how many D's did we get here D at 42 28 on the 8th of April now it's down at the 38 85 level it's difficult in the steels now let me just go back to this I was saying Microsoft had done very nicely Microsoft went to a leg D what was the other one that I was looking at a moment to go good grief if I really moved on oh oh Disney we looked at Disney is in a leg D we're looking at I was just I thought I'd just gotten the there it is okay I wanted to see what was working in the Dow so let's go to this said I kept kept scan yeah we go so Microsoft is up for Disney is up over to American Express is actually up let's see what AXP is doing someone's telling me I heard the other day talking about American Express being vulnerable to a huge decline and I'm looking at it and I'm saying to myself no it's just making a jab wave cup formation here we go peak D was the last move of significance in the 114 slums to 108 and now so it's a C right there so this is how easy it is you go to a D there it is so D in an up move for the gap we'll be watching it tomorrow only a leg D for American Express in the weekly chart monthly chart broke out this is going to be very interesting because American Express is helping the Dow it's in the Dow now but not enough so this is a leg D we're watching the MacD's good Stochastic's okay 87% hmm all the technicals are pretty good but what else have we got the Merck oh Merck actually came alive today Merck made a peak E and oh there's your peak D in the daily peak D and it goes from the 83s down to the 72s and once fell swoop and now it's trying to rally up it's up a dollar 23 only a leg B in the monthly chart that's going to be very interesting alright so I thought I'd go through a couple of those things most important and we just get out of this because that'll mess me up a little bit there you are okay couple of things I wanted to look for and that is to show you that within the context of all those earnings reports yesterday did I write them down yes I did so look at this so Xilinx which came out with earnings three months or over three months ago and just knocked it out of the park they said they're handling all the expenses and everything had a spectacular move and it runs becomes one of the best stocks a little on best semiconductors but one of the best stocks over the last eight months or so and Xilinx goes from the 60 65ish area back a year ago in june july and it screams to a high of 140 what was that high just yesterday the high was 141.60 so it goes from 141.60 as a little problem comes up with earnings and says oh oops maybe I should have read that semiconductor equipment industry North American Billings 2007 report because it's not so good and it drops a little bit it drops $23 to 116.74 right now this is not good action make F in the daily make E in the weekly chart in the chat and a possible leg F in the monthly for the semis I have to tell you something's wrong with this picture wait a minute something's wrong with this picture lamb research which said the same thing in the same day of the earnings report last year I mean three months ago and then came out and blasted that just shot up like a rocket ship comes out yesterday says everything's looking great it's up it was up 10 knots of 12 and a half at 208.21 all-time highs at 20 237 I think let me just double check 234.88 let me just type that in so 234.80 that's a spectacular move from below in the 165 area in December no no no what am I talking about in the from the low it goes from 234 I would say a decline to 122.80 I would say that that is definitely a serious decline so what's happened is it's run up to 208 that's I mean that's an 80 $86 rise that you know that is huge so and it comes out with earnings and it says things are great I don't know how to explain all this maybe it's a different chips and different thing different chips for different folks and whatever the expression would be maybe that's what it is what's applied materials goes with lamb research today applied is up 63 cents at leg F kind of struggling leg D in the weekly chart not as good a chart at all applied materials I'm going to be watching these semi-duck semiconductors really closely all right so next question I had was would I look at who disappeared oh XLF sure XLF which is the S&P select financials leg D to the upside very nice I like this going against the market drain right now it's kind of independence up 12 cents at 2752 XLF is the S&P select financials leg C in the weekly but it's got a long way to go for that monthly to break into the 2870 2930 area to break this down long-term downtrend line I think it's going to do it when it does it's going to be very important as I say we are still real long a financial has done very nicely for us and today it's up 0.92% that's very good when the general market is only up 0.05 for the S&P and down 0.50 for the 0.5% in the in the in the down so that's that I've covered those things I wanted to get there with three areas I wanted to get to today that's right IBB the IBB is really languished and I'm not my take ETF trading in 106 16 up 52 cents today look at that makes an all-time high right there and that was in October I think October it goes to one 22 97 and if I ever type that in I'll type it in now it's just been off our list for a long time 97 and that was 10 2018 that drops very sharp into the 89 area and now it's trading at 106 I just think it's stuck I don't think it's the turn for the for the biotechs right now they've had a spectacular year or two just needs a bit of a breather and I think that we've just lost maybe another couple of months and then I wouldn't be surprised if the pharmaceuticals and the biotechs really get a test because of the political debates going on probably like that if you're in the CD market and looking for a secure investment the Tiger first mortgage program 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Y's assemble at 379 right now made a high of 440.63 all-time high in a peak E in the Chapman Wave methodology on 16th of April it's trading right now it had a low today of 379 gaps down huge obviously earnings disappointment I should have done this I completely forgot about all the earnings we've done this once before was it all I believe it was all E or AZO order zone one of those we had them on the day of the earnings disappointment and it was like an 80 points and moved to the downside I just wasn't on my radar right now pretty about that leg F I don't know if this is an alternate count but this is going to be very important what happens to the order industry in terms of the rotation everything here is about rotation look we just saw Xilin's huge market up move and then today BAM huge move down all of a sudden MAM research is leading there these kind of mixed within a sector it's going to be very important to watch AZO I know when the earnings come out for AZO but it's trading right now the circular move makes C only oh A, B, C in the monthly chart trading it down 9 at 1033 made a doji perfect doji candle high on the 15th of April at 1074 67 that would be A, B, C let me just do this here this is an A and B I'm just calling this a C for now in the weekly chart a recycled C what happens but this is going to be very important in this sector because if you look at forward look forward is down just 12 cents it's had a really nice we made a peak F I could even consider this an oval pattern here we'll see what happens but holding this well in the automotive section see what GM's doing GM is down 50 cents after making its peak D in the daily chart but well off the lows and the 36 area that was made late March so that's good you went to the 40 40 area and now it's a 3923 so far not bad what happened to Siri speaking about it yesterday Siri is down 1 cent today 55.71 yeah I mentioned that I think the business plan is not so good I think that the offerings are not bad I would like it a lot easier I'd like to just be able to say get me a Schubert in prompt use or something like that or that Coleman shape of jazz to come whatever it is so that's not quite easy done there but in the meantime it's trading way off the high that was made in 2018 back in January sorry June of 6 no it went to 770 announced at 571, 22 points lower all right next thing I want to look at is within the list of what's coming up that go the list list the list let me just click on this and see if I can get it and it's not that it's not that oh my I had the list and now it's just gone offerings is that right nope it's not I just lost it sorry about that I thought I'd be able to go through some of those oh there it is so I just want to briefly talk about Tesla Tesla I said yesterday is a stock that I just can't trust anything there I just don't think it's the there there is not there it's down 8 at 20 to 49 I remember hearing Dave White talk about this he was talking about in a pretty technical level he had done a lot of work and I believe that he was very negative the stock and look at this it's about to and I was looking at and I said you know I as a trade it's very difficult as a water company I just think it's doing terribly I see them all over the show I just I drive around every day I could count three to five just in the little area that I've been traveling in but that's a little unusual I think that's not the whole country that's just around here and you know we've got a big biotech sector we've got a lot of entrepreneur music a lot of the whole 128 belt is tech related there are a lot of people that really want to show their wealth there's also a lot of people that want to get this kind of car they like it very much I know people anyone who's I've spoken to who's driven one or has one just loves it oh they prepare to put up with all the other stuff that they have to put it up so that's a separate animal altogether my suspicion is being that it cost them a lot of money for every car that they sell it's just as simple as that they're really not making a big bunch of money they're losing a big bunch of money and they aren't being able to regenerate that cash that's cash flows absolutely imperative and that's I think what we're looking at now what I want to show you is look at this uptrend line we're testing it right now the month is not finished it's still a week to go so whatever I never keep counting so what is this this is April April goes to the 30th of Tuesday obviously April the April 30th Tuesday so now look at this you're right on that line I'm going to make these very weak the candlesticks very weak and what I've been saying is that I just don't know how they're going to do it do they become a battery company what the heck is going on because as an automobile company the costs are just too great I think that's really the issue hey maybe I'm wrong because you've got to really know the inside out of this company but technically I see nothing here but I do see some chance that in the 240 to 236 area there will be attempt to try to rally but this is not a good sign for Tesla TSLA trading at 249 down H I want you to look at Facebook Facebook gaps up today in leg G in the day in the weekly chart and only a great leg A in the monthly because the monthly technicals have not improved enough to call it a new buy mode I suspect it's going to be but it just for now Facebook trading at 193.25 up 10.65 now this gap from the way it did that leading into it my suspicion is that over the next week we'll get some kind of a test of the 190 level just between 191 it's a 193 right now if you're 191 and 188 if it holds that it could have another bit of a rally but most importantly if it takes out if it closes under 187.50 I think that it's going to give quite a bit back and that'll be just a very let's put it this way earnings and a bunch of stuff was fantastic as it often is with Facebook but the pressure outside pressure might be saying you know what it's gotten a little ahead of itself and that's really the issue looking to buy it hey give me a y'all when it gets to between 181 and 175 but have a good look at it then if it's going to have another big move to the upside alright we've got that out the way I want to oh Texas Instruments that was the other one so Texas Instruments comes out it's down 135 right now and 117 made a high yesterday a recovery high not an all time high of 1932 I like to type that in here that's a leg E 1932 let me just put that in 119.32 I'll just keep note of that make it nice and light so that it is they are just in background this is leg D again another D in the weekly chart I think we're getting real close to some kind of digest to face the big thing is this look the S&P came within look the spy the spy makes a high yesterday of two days ago now it was yesterday 293.16 293.16 293.16 look at this 30 35 cents away 35 cents away from an all time high I mean come on that's amazing so the gas should get there at some point soon but I think he needs a rest first I'll be back last segment coming up or strive to be one of the best of the best at everything you do in life it's the most common trait that we tigers and tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of Mastery Probability and for the last 12 months timer digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 100 for the last 12 6 and 3 months timer digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do sign up for Mastery Probability today by clicking on the newsletter tab on the homepage of 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banner on the front page of TFNN.com Hi folks, this is Steve Rhodes stay tuned for another great hour of The Trader's Edge heard here at TFNN.com Hi folks, so RHI, Robert Happy International's jobs this is really an important measure of certain aspects of the economy made a big D just the other day two days, three days ago at 69.08 it's all the time high, it was around about 80, it dropped to the 54 area it had a really good comeback it went to the 80, so to the 69, 08 level on the 23rd gaps down yesterday and inside bar today, this is not a good sign I want to see more upside action here than Robert had so just before we're going to wrap up so this is the last segment I will be back with Tom for an interview this afternoon, let me just say two things one is that this is absolutely a fantastic example of a bifurcated market as a split person we saw that in Xilinx, we saw that in land research and that's all around, we're looking at Microsoft and the upside Caterpillar on the downside Triple M on the downside, UTX is actually holding pretty nicely here, so there it is, up 16 cents at 139.75, well if it's all time high 149.44, but it's important so keep this in mind, this is a market where there are specificity that says earnings announcements are very important what happens in between is important so if there's a sharp pullback on a particular stock that you love then I think that the essence is to say have a little patience, this is I think a period of patience right now there are going to be stocks that you've missed on the upside they will have some kind of a pullback and those are the ones that you want put in a bit of a low price at exactly what you think is reasonable that you're comfortable with, that's the way to play it right now, meantime as traders you can do some shorting, we are actually shorted down to see how that works out so far, it's not bad, but we'll see what happens, but very specificity is really important right now and you can see that by the examples I just showed you of a triple M and a UTX which you kind of go together, not now, so this is a very important phase, another thing I'm looking at here is the VIX index in the single in the 12s it's really that says it's buying pressure, well today it hit 14.30, right now it's trading at 13.03, almost back to the 12s, so keep that in mind because that's the bigger part of the picture in the market, so the VIX index only when it gets to the 15s and 16s and actually closes at the high of the day, that's when this market is going to be impacted very negatively, in the meantime very selective we're trying to do longs and one short, but we'll see what happens, have a great day, stay tuned for Steve, stay tuned for Dave and Tom O'Brien, I'll be back a little later.