 presentation of TFNN. The Tom O'Brien show is produced every business day. Tom takes your phone calls toll-free at 1-877-927-6648 internationally at 727-873-7618. Let's go to Ben and San Jose. Ben, what's going on, brother? Hey, Tom, how you doing, man? I'm doing great, man, yourself? I just wanted to thank you and your team and everything. I've been using your technique with the 10-minute charts, watching the VIX, and just making a fortune here on the futures. Isn't it interesting? That's awesome, man. It's wonderful. Thanks, Tom. I appreciate it. Okay, man. Have a great one. Have a safe one. Now, Tom O'Brien. No growl, just me, Basil Chapman, sitting in for the one and only Tom O'Brien. We're looking at the towel on this Wednesday, the 16th of August. The towel is down 64,000 at 34,081, so I'll do this real quickly because we've been discussing this for quite some time. I used two moving averages as really important, as part of the package of all the different tools that I have. This nine-period moving average, when it goes green, it means that the price is very pr- whatever you're following is strong. When it goes pink, I can make it red, I'll make it pink because I don't want it to interfere with the actual red bars, the down bars. It means that you've probably gone from a cell signal to a cell mode. That isn't always the case, but look at this. The Dow, today's the first time that it's gone into the pink, and the day's young. Anything can happen, but so far, that's what it is. All the others, S&P, look, here's the S&P, oh, why is it keep slipping around like that? What did I just do? Yeah, we go, let's get that back, if I can actually find it, oh, there it is, one, two, and then you see my background there. There are, look, the Dow is down, the S&P, next, there's the S&P pink for quite a few days, the QQQ and the X100, trading vehicle, pink for quite a few days, we've been waiting and waiting and waiting, IWM, pink for quite a few days, you can go gold, gold's been down for quite some time. So this is really important in terms of just confirming what we've been looking at for some time. So let me just go through all the numbers here, here's the Dow, I need to just get out of this, I'm not sure why, let's show it up like that, and I want to go there, okay. So what we're looking at is the Dow is down 76 or 34,870, using this arch formation, you see, we started looking at this as a potential arch formation, and it's so fascinating how prices do that, look at each high, as it got to this fourth highest PPD, look at each one was just a little bit higher, then a little bit higher, and if you look at the technicals, that nine-period moving average was really strong, if you look at the MACD, the moving average convergence divergence, it was showing that that high that was made right there on the 1st of August, that wasn't quite as high as it was on the previous high, this stochastic was really strong but it actually started to weaken, and then this blue line was right at a very overboard level, and using this particular technique, using just two or three techniques within the Chapman Wave smorgasbord of tools that we have, we actually went short right there on the 1st of August, but the reasoning was everything looked as if there was a short-term high, and that if there was a pullback because of the width of this nine-period moving average over the 40, it would take quite some time, it wouldn't just be, look at how much time it took, and then it didn't even turn pink, when the 34,588 high was made on the 16th of June using this one indicator, and turned around and it did it a one-to-one, perfect one-to-one to the upside, measured move from the 32,586 below the 25th of May, we go to less than just three weeks later, we go to the higher 34,588, pull back to the 33,610 level, and then we scream up to 35,679, and look even that you remember that day, well whatever day that was, it was the 8th, let me just check what day it was, it was the 10th, on the 10th we had that sudden very sharp move to the upside, but even then that nine-period moving average was slowly diminishing the distance between the green nine and the 14-period moving average, so now here's the thing, finally we've got this confirmation that the Dow has gone from a cell signal to an upgraded cell mode, that doesn't mean, oh my god, cell mode, now we're going to go down another thousand, two thousand three, it just tells you, it designates the tide, that now you're in this bigger tide, and now we'll see what happens, what's the 50-period moving average is right there at 34,682, I said based on, I show this to my subscribers every day, if I can actually find it, I did something crazy, yeah there we go, I said to subscribers to my opening call newsletter this morning, this is one of the charts we send out, this is the Dow daily, on the left side it just has moving averages, the Chapman wave notation, the middle one has automated Chapman wave resistance support lines, and the hundred and twenty minutes, and look how many support lines there were, all the way to the 200-period moving average, which coincided with this red, 34,894 support level, and we are now trading at 34,791, we're under it, so that's the one thing that was really important in terms of how we can look at a rollover that can take time, sometimes look the weekly chart hasn't even acknowledged a little dip, it's still extremely strong, so I've been saying for a while, it's the daily charts that we're looking at that are going to go from cell signal to cell mode, let me just do the exact same thing on the others, before we get to a break, here we go S&P, same thing, down below the 50-period moving average, MACD is weak, the stochastic is flat at 13%, that's not very positive, and the on balance volume is not even getting to oversold level, and you've got the pink 9-period moving under the 14, and all I can say is that that weekly chart is still strong, but finally the price has gone under the 9, it looks like it wants to test the 14-period moving average in the weekly chart, which is at 4390, so that's only about 19 points lower, and let's see what happens then, the monthly chart on the right is still very strong, QQQ, let me just do this quickly because we've got a lot to discuss, peak D in the Chapman wave, we're always looking for that 4th highest peak, that's where other things can happen, well lo and behold the 38, 387.98 on the, I think it was around about the 17th, 18th of July, there's the QQQ NDX100 sauce tumbling down, and now it's got this very big, almost pyramid shape in the daily, the weekly chart hasn't even given, we have to wait for Friday's close, so far hasn't even given a cell signal, and the monthly chart is still looking very good, IWM real quickly, the small caps, not good at all, down at 192, 186.21, and the weekly chart, and they made a double, these double tops are unbelievable, how prices get within one point, and then turned down even after months, I'll be back, Basil Chapman sitting here for Tom O'Brien, and the dials down 153, as if he's down 27, you're back in a moment. 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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. Look how unimportant the 200-period exponential moving average was in the 10-minute E-mini chart. Look, here it is, nothing, nothing. This is the orangey line right there, and all of a sudden, right there, it gets repelled, comes back, tries again, gets repelled, makes an arch formation. Let me just show you this for those of you new to my work. If I can just get that over there, there it is. I look at three distinct patterns besides rectangle formations, but this is straight up, straight down, cut formation, arch formation, straight line down, red, if it comes down, and then it goes to just one peak or two peaks peak A or B, I alphabetize them, and then fails and takes out that left side low. That can be really tough because it do a one-to-one to the downside. Same thing with the inverted Y, the reverse Y. If it takes out the left side high with a straight line up and then a cup or a V-shaped pattern, it can go much higher. Well, lo and behold, what do we have? We have the arch formation, it took it out, then you got the arch formation again, and now we've really taken that almost a one-to-one to the downside. So this is a tough situation right now for a number of reasons, and now I need to go through some of the other areas to explain what I'm looking at. If you get your major indices as a general, which is the Dow 30, was leading the pack, but you can't have the general leading without the troops, and the troops were saying, hey, we're going, we're stuck, we're going the other way. So now the Dow has to join them. Is this the exact moment where the Dow pulls back and then the others say, okay, let's have a decent try? Well, that's going to be the issue, and I'll talk about that as we get into the close. But right now, what we're looking at, what are the factors that really could be worrying the market? Well, the TLT just made a new multi-week low. The low of 91.85 made back in October, so all the way to 100, 809, somewhere in that area, made this arch formation, a double arch formation recorded a lowercase h that goes to a lowercase m, and it plunges down, and it's at 93.83 right now. So that's making upside action really tough to go on, and just traction, and you need to be able to find some level on the left side while we're getting close to a couple of points on the left side that says, maybe, and let's do the inversion. This is the TBT. There's like a mirror image. Well, this is the ultra-short limit 20-year treasury bond fund, ETF, and in a strong leg, E to the upside. There's the pattern we were just looking at, that green, if I can just get that to move, there it is, that reverse Y, and we've gone above that left side high. This is a leg F in the weekly chart. I'll just do a very brief summary of what I'm looking at in terms of these notations. In the Chapman wave methodology, let me just get up there, try to identify the lowest low bar, then merely count each successively higher peak, alphabetize them sequentially, uppercase A, B, C, D, E, F, and G. You'd never get an h in this methodology, and at D, other things can happen. It can recycle. It can do all sorts of things. That's where we can have, look, the sharpest move down. So what we're looking at here is that we've gone to an E. That also says that, is this the area where there could be some resistance? If you look at the T and X, it's slightly different. That's the 10-year, if you look at the 10-year yield, if I can hit the right button right there, look at that. T and X, there we go. You're actually almost at the high of the left side that was back in October at 43.33, 4.33%. Where are we right now? We're at 42.58 yesterday. It was slightly higher, and this is going to be the issue. Does, if, or how do we deal with the left side high, monthly chart peak D? Does it break out? Does it go much higher? And that's, I think, the worry for the market. That was one worry. Another worry is that crude oil, although it's pulling back right now, it's down to $1.78. That's big. Has, in fact, done very well, and the market was kind of worried about that. It did impact, in some ways, the IYT. Let me just have a drink here. A little tea to soothe the throat, although the throat feels fine. Just this little frog. So the IYT, which is the transport, and you really want the transport to be in sync with the DAO. That's the DAO theory. And look at the big move down. In the weekly chart, it's not such a big deal, but it is saying that the short-term tide has turned down. The weekly tide is just on the cusp, but it hasn't yet turned down. I mean, it looks like it's down, but there are no indicators to tell me that it's got a concerted move. So this is very important. And if you look at the VIX index, that's the volatility index. The volatility index is holding very well at 16.77, but that's still way below the 18.38, 200-period exponential moving average, which would be a target if this was going to become an even more serious decline. So it's a possibility. Now, I always consider the semiconductors as the oil of the 21st century. Just as crude oil was, it just permeated many things, but it permeated almost every economic factor that really resulted in our growth for the 1900s, the era of the 1900s. So chips are the same thing. So about from 1980, I would say chips have become absolutely imperative. So the semiconductor index almost always guides to the way up and guides the way down and kind of leads most of the time. I'd say almost all the time. And the semiconductor, look at this, down 2.22 at 146.61. Look at pink. It turned pink. The MACD is weak. The unbalanced volume is turned sharp. Low is getting a little bit oversold, but it isn't quite there yet. The stochastic is way down under 20%. It's at 19.64% under 20%. And just with disclosure purposes, I should say that subscribers to my opening call, we actually went short two days after the high of 161.17 in the 159 area. And we were kind of aggressive because we also got the three times short position. I was asked questions about it this morning in my show. The target conditions are 10 o'clock. Actually, let me just do this right now. I'm going to go to, if I've still got it up, I'll try to find it. Yeah, I'll get to it in a moment. So these, not just the moving average, but the arch formation, these are all techniques that I love to use. And it's really important that in the guidance of what we're looking at in terms of the market, the velocity, that is the torque, the ictus, the start of a turnaround up or down, what you want to see is tremendous follow-through. Well, this red candle in the semiconductors, I would call that certainly huge follow-through. And that follow-through basically is saying, within all the different aspects that we look at here, that velocity, that torque gives the MACD momentum. So on the way up, we like to look at the torque of the stochastic leading to the MACD and the ninth-grade moving average. And yeah, we've got all of these things going to the downside. So this is a really important moment. And the weekly chart is still saying, what are you getting excited about? I'm just taking a bit of a breather. At this point, that's what I think in these. We'll be back, Baselchamp is sitting for Tom O'Brien dollars down 173. 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 US futures market, and the Shanghai Gold Exchange. The Gold Report. 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To sign up today and become a part of this educational community of traders, just visit the front page of TFNN.com. 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. Hi folks, so just to repeat the volatility index, the VIX index, that's kind of the fear gauge, let's just say, is up only 36 cents, up 2% at 16.82. And that just says that there's a market sell-off that's unfolding and so far hasn't quite been recognized by the volatility index. That's the reason why I'm talking about that 18 area. If in fact we get to the 18 area in the next couple of days and it holds it on a closing basis, that's going to be important. That's just saying that all of a sudden fund managers are buying insurance. Okay, so let's get that out of the way. The other thing that we're looking at here is gold. If you look at gold, just in terms of action, price, action, there's that pattern, that H pattern that we're looking at in the weekly. So it looks like this week in Mike, we don't know yet. The law of 1940, that was in the continuous contract, June, the last week of June, we're under that at 1923 right now. In this methodology, we've got two bars, maybe three, but I usually like to think just two bars in which to close above that and that's going to be important. Why? Because look, in the TLT, we're above 91.85, but I'd use the same methodology right here for these arch formations making 98.88 really important support in the weekly chart. And here it is. This is the, it went under it the week of, this is bonds, right? The week of the 14th of July, 98.85, then it ran very nicely higher, had another higher low than the one that we were talking about. And then three weeks ago, it plunged under it and had followed through red candles. Well, the week is young, the weekly chart, you don't want to talk about it as if it's done, but it's got two days to go, so it's not looking very good. And that's the same methodology at 91.85. If it closes under that for two out of three weeks, closes under that, that just says those yields are going to break out, the market doesn't, will not like that. So just when I said, I think that we are based on all the, look, the TLT, this is the unbalanced volume. To me, it's getting really close to at least a bounce. That's just a bounce, it's an oversold, I only use oversold and overbought with this unbalanced volume. Oh, by the way, I'll be doing an opening call subscriber webinar Wednesday, August the 23rd, a week from today and for, in fact, exactly a week from today, 4 to 5.30, 19 minutes. The power of the 9.14 moving average and other indicators in the Chapman Wave methodology says a live subscriber webinar. And so within that are how to use the 9.14 moving averages to assess sustaining power, how to use the unbalanced volume for potential price. That's what we used for the turnaround in the Dow right at the top in August the 1st. It's actually what we also used for the low that we still long from October and actually from the March low in the Dow of 2020 using these techniques. So I just wanted to go through that many other things. I'll talk about that, we'll have time to do that. But most importantly, what I am looking at here is the power of the 9.14 moving average. Look at this, the 9 was pink all the way in the one minute chart of the E-mini right there at 2.43 this afternoon, eastern time at 44, sorry, 4,448 in the E-mini and has come all the way down here to 44.24 and look, it just turned green. So that's not a timing tool, but it's a confirmation and yet we haven't, I have to wait for the entire one minute bar because this elk can just disappear in a second. And look at the weekly chart. Even with that big rally, once it turned pink right over there, and that was a small hang at about on the 16th at 12 o'clock. Is that, yeah, 12 o'clock. Once it turned pink, even that big rally to what I call the Eiffel Tower single leg failure pattern looks like an Eiffel Tower straight up and straight down. It's still pink. So that's the power. It's one of the technical tools that we'll be using. Okay, with that said, let's go to the GDX. And that was the question really, in the GDX, where would you start a position for the last couple of days? I've been asked that question. I said, I just don't see it yet. And you can see the on balance volume itself is also not even in the oversold area. Stochastic is at 12%. Magdy is lousy. The pink 9 period movie average is way under the 14. And the weekly chart is not really, so I'm just, I don't see anything in gold just yet. And let's go to the dollar. So the dollar is at the 200 period moving average resistance. It's stalled there. But actually, this is the, it's had a nice little balance game the last hours at 103.45. I should mention, we actually, the longer dollar from 2018 at 90.07, wrote it all the way up, took a little bit off on the way, still have the core position. Sword go to 120, where did that go? Sword go to, so this is 18 from there, long, right there. Sword go to 103. And then it pulled back to 89.21. We used the UUP and that stopped hell. So we still have it. It went all the way to 100 and this gets smoothed out. Okay. It went all the way, it went all the way to, in September of 22, went to 114.74. And now it's kind of in the sideways range in the monthly chart. But in the very short term, this is good action. This is a very good action because it's a V-shaped pattern. But look at the weekly. The weekly says it is good, but it's just stuck in a range. And that says go to the EURUSD, the Euro-dollar currency pair, and look what we've got. We've got a peak D. That's the fourth highest peak. It pulls back from the 1.12. It goes all the way down and it's still very weak. So this is going to be absolutely imperative to hold the low of the E, 6th of July at 1.083. And you've got a peak D in the weekly chart and that says, oh, you got to be a little careful here because that nine period is very close to turning down. And if you use the USDJPY to confirm any rally in the dollar, when we were over here, I was saying in the Chapman methodology, with this strength, we should see a move above that D to try to get to that high that was made right back there in the yen at 145.06. So yeah, it is. This is the leg E up and away as a 146.33. So and it's in leg D. That's the objective in the Chapman way is to go from a buy signal, upgrade, see it upgraded to a buy mode and the implication is it should go to at least four higher peaks. And yeah, it is. Does this say 150 is in the cards? I just can't say right now because everything's very strong, but I don't have an indication on the upside yet because it needs to take out on a closing basis this really ugly candle with a higher of 147.56. And that was the candle of the week of the November, the week of the 11th of November of 2022. If it does that, then I'm going to say yep, it can go all the way there. So within that context, a couple of questions that I had a little earlier, I'll do them again. The question was jets. I didn't do this this morning. Chess is the US Global Jet ETF. Look at that peak E at 20 to around about 20 to 50. And it's at 1965 getting close to 1945 200 feet moving average. This is the call to Chess. And has anybody caught a plane lately? They are packed. It's happening. I'll be back. Basil Chapman. Total Brian does down 150. If you're looking for potential trading setups in the stock market, then Rocket Equities and Options Report is a newsletter you should try. 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It's okay, it's doing well, it's done it really, and I think that was the big surprise that it went from about the 57 area up into the 75, I mean percentage wise, that's huge, right? But at the same time now it's got a really important digestive phase, how it holds is going to be important. Now I think we've got the momentum of the selling. Now you don't actually need all these other accoutrements. It's just now we're going to get to an over sold condition where people start throwing out really good stocks and now just while we're talking about that, let me do, have I forgotten anything that I needed to do, I did the TLT, I did that, yes. So here we go, Amazon. So Amazon is down 2.22 at $135.46. It had this sudden spike to this, almost like what I call the Chapman wave rogue wave, but it has just a couple of the characteristics, but it's starting to fill the gap. So at $136, it's really important the $128 level, let's go $132 to $128, the 9 and 14 period moving averages in the weekly chart, that's going to tell us to get the 9 to go negative in the weekly chart, Apple will have to trade under $120. That's 15 points. There's another 12% from it. It can do it. I'm just saying that that's what it would need to do. And even the daily chart hasn't given a single in the 9 period moving, it hasn't given anything. But the MACD is just about to turn negative. It hasn't yet. Stochastic is now down under 80 at 71 in the daily chart. And as I say, the weekly chart, so look at this, $145.57 was the high in 2022. And that was in, I think it was August, exactly a year ago, 8.18, 8.19, the week of the 19th of August, it hit $142.80. But why is that $145? Oh, hi, $146.57, $146.00, not $145. And what was the most recent high? I mean, how the market does it, how the market has a memory, of course, it's not the market, it's us. It goes to $143.63. Let me type that in. $143.63 within less than two points after over, is that over a year? Exactly a year. It goes all the way down to 80 and then comes back and it stops dead right here. Isn't that the way horizontal levels are memorized very well, but actually fascinates me and I don't have a chart right now in front of me that I suppose I could look at this. Look at the way trend lines are so, this is a tab wave inside wedge target resistance line. So I'm just going to take it and I'll show you something fascinating. Look at these trend lines. I'm sorry, look at these price points. Look how they stopped dead within pennies of that resistance level. I mean, how does markets now horizontal? I mean, diagonal. I understand horizontal because you know what the low was, you know what the highest, but to know the measured move to get each one of those, it's fabulous. Ah, the market, isn't that it? What an interesting vehicle it is and instrument of. It's like trying to play a strativarius here. So as I said, live subscriber webinar. I did what I did mention is that it'll be archived and if you sign up, you get 30 day risk-free trial for Basil's opening call today. It's starting immediately and this is a really important time because we are putting on trades. I'm not afraid of the market in terms of it depends on what you go from the long side. We've got one new long that's doing very nicely and one would be started today that I should have started a little on a, we got the pullback, but I should have waited for a deeper pullback. So maybe we'll get stopped out of it. It's a $4 stock. I went in this phase to have nice, very low price stocks that we have very tight stops, but if they work, they give really good gains. That's not as good as the three times shorts were, which are all working fabulously for those people who have any of them at this particular point. Okay. So another question came in that I really need to get to, I'm just looking around to see if I can say. Yes, I just want to, I didn't finish that off to say that the monthly chart of the oil, it is above the nine, the nine period moving average is good. It's above the nine period moving average. The bank hasn't crossed positive. The cast is very weak at 25 on balance volume this week. I think crude oil is going to stall at some point very soon. It could even be now and it will come back on fire. I shouldn't say that. It should come back as a leading index in the, in the, in the oil and heating oil. Let's see what heating oil is going to be doing at this point. Heating oil is pulling back a little bit. It's actually holding much better than crude oil. Look at those monthly triple top right here, but we can't talk about it as a top, but I'm saying it's getting into that range. So heating oil at 3.02, not bad. It is at leg C in the chapter weekly chart and it should go to a D because it's in a buy mode, 90% stochastic. Magnet is good. On balance volume is a little overboard. Nine's way over the 14 and the price is way over the nine in the weekly. So this should go higher. Heating oil and of course it's the season. Then I had a question about natural gas. Natural gas has just been a terrible vehicle. I thought that there was a good chance on that big spike that it was raising the support level, looking out, going into September, maybe October, that I was starting to see signs of technical improvement in the weekly, but price is price and this moved down to 259 right now says it's just back in the same old same old. It has this big cup formation right there and went to a higher high and now you've got a second chance of a cup formation, but that's 2.50 level. That has to hold on any pullback. So yes, natural gas looking out. The weekly chart is just in this long elongated narrow rectangle formation. Not in one of my favorite patterns unless you recognize that in a rectangle formation if it goes above the resistance at the top, it can come back and test the low and sometimes break it and then you can get the big move to the outside. So let's just watch this. I don't have any opinion right now on natural gas short term, longer term. I do see an improvement. That doesn't mean to say that it's going to sort to the upside. It just says there's a technical improvement. One other thing I want you to do is I did that, I did that, I did that. Oh, XLP. So this is where money usually goes to. It usually goes to the S&P select consumer staples spider fund when the market gets nervous, but I was pointing this out the other day. That peak, the fourth highest peak, that's where other things can happen. Right there on the, was that the first of August? No, the 28th of July at 76.40 needed to hold the 900-period moving average of 74.23. Two days now is below it and it's got this H pattern in the weekly chart after a doji peak D. This is not good. So that just says 72, it's at 73.47. On a weekly basis, if it closes under 72, there has to be select consumer staples spider XLP. That's just not a good sign at all. Another question came in about FXI, that's the China large cap, testing the left side low of July at 26.68. Also, doesn't look very good. 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 super charge 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. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks, and commodities, subscribe to the opening call newsletter at tfnn.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns. Finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. tfnn.com. Educating investors. 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. Hi folks, for this last segment, I'm Basil Chapman, sitting in Futomo, Brian. We're looking at the Dow down 160, so let me just show you something. So what I've been discussing from subscribers to my opening call is that the other indices have really taken quite a beating in their daily charts. The weekly charts are still really good. So if the Dow, which is the last it did it today, if this is the last one to see the nine-period moving average flip negative pink underneath the 14-period moving average, then I have to say, okay, now assess to see whether or not we've seen this before. Let me just quickly show this chart here. This is the S&P. Look what happened here in the S&P for a day. The Q's did the same thing. Look, ever since the low that was made back in when it turned green back in 28th of March, this has been green all the way except for one little day that could have taken you out right there on the 5th of May, and then it flipped back within a day. It was back to green, and it's been green ever since the S&P until the 8th of August. So sometimes you have to wait to see. So it depends on the distance, and these are things I'm going to be discussing in the webinar I've got a week from today which happened with subscribers, they're opening call subscribers. The distance between the nine and the 14 when it does turn pink to Michael show pink is going to be the clue. If it's very narrow, it's going to say there's still some support, so be careful, you can still have around it. If it starts to widen and we might see selling pressure all the way into Friday and then Monday we might get a low. We might get really decent trading low, I'm not sure, because those, let me just show you once again as we're wrapping up here. Look at this, the S&P which was stronger than the QQQ has now turned down very sharply. It's going right into this whole area, this consolidating area of the 4402 to 4390, and the QQQ is even deeper, but look at the nine-period moving area which is saying we're really close to least the bounce, so keep in mind the tide has turned on the daily charts to a more serious down mode, sell mode, now we're looking to see where support. Have a great rest of the day. Oh, we're wrapping it up.