 is a presentation of TFNN the Tiger technician hour with your host Basil Chapman call now toll-free at 1-877-927-6648 Hi everyone Basil Chapman here second time today we have the Tiger technicians hour and that hour at 10 o'clock to 11 o'clock was a very important one because things happened in that particular hour that was very cogent for me it said what I've done yesterday and I'll go through it now let me just go one step at a time so yesterday I'd said to subscribers to my opening call in the early morning I sent out between 8 and 8 30 I sent out my newsletter and I said that as far as I'm concerned if if the Dow starts to turn around and go lower and the S&P starts to fall below a certain point I'm I want to have we are long three times long on a trading position this is the short-term trading positions that we've added to other than the longer-term positions we have three times long the Dow I want to have a stop in place but at the same time I want to be able to buy the S&P the three times short S&P small position there of course three times long small position sort of a pretty big position and it'll be it'll be there and we'll have to see what happens next only be wide because in leg D in the chapter we methodology over this is a this is a different hour so let me do this find it right yeah I'll just do this real quickly in the chapter we methodology there are a couple of things that happen one is I try to identify the lowest low bar and count each successively peak alphabetizing them sequentially to the upside ABCD E F and G but it's at that fourth highest peak one is a 2s B 3s be there's gonna have to do a to be equal C to D completely different completely different to the Elliott wave something I discovered back in the late 1970s early 1980s part of the chapter we methodology it's at that fourth highest peak that other things can happen but if the price gets upgraded from a buy signal to a buy mode implies there should be at least a leg D to a peak D to the upside it can go higher but at that D other things can happen that's number one number two is I'm always looking at certain patterns straight line up straight line down cup formation arch formation and a combination like one and two and one and three yes one and three why is it red because if the price arches over at a peak a or B it fails and takes out that left side low you can go a lot lower and on the right side if it pulls back and then it starts to move high and takes out that left side high it can go a lot higher so it's green let me see oh and the other thing that I like to look at here and this is really important is I like to look at narrow rectangle formations and large rectangle formations all right enough for that now let's get back let's move this away and get back to our story we're in leg D I anticipated there was a chance that if we start to pull back even though and I use unlike many of the technicians here I use moving averages I use MACD the stochastic the on balance volume relative strength RSI I use nine period something I discovered a long time ago nine over the 14 is just fantastic or nine under the 14 is fantastic get you in and out of positions while keeping a trade much longer than you anticipated so because of that I had a price for the SQ for the UDOW along a stop it held yesterday at the same time the spy went underneath to type this in here the spy late in the session went underneath 208.09 208 10 I believe it was went to 208.09 and I said we're going to get a short via the three times short position and then today I said it happens every once in a while we have the two positions along the short and you say well what's the point there but I said one of them is going to be taken out and we will then stay in the position if it's long and switch if it's short well I sent a note at about 12 o'clock this morning what time was it yeah I think it was just before 12 about 11 something I said get out of your SPXS stay with the UDOW why because the Dow was acting so well and the so the three times long was actually up about point 59 and the three times short S&P was down point 31 or something 20 something I said let's get out of it so we took a real tiny loss in the the S&P and we remain long and this could change because this is something very important look you've gotten to a leg E we got to the D pullback made a cup formation and now so far the day is young but if we can close above 411.92 the high of the 4th of April that's a really good sign because the 90 is still way above the 14 the MacD is still strong this is the S&P the spy and then the on bounce volumes already had us a little bit of a pullback as it was overbought and the regular strength is actually strengthened and we've broken out of the weekly chart for yet another cup formation and this cup formation although it looks more like a V shape but it has the principle of going for one point down and then back to that point if it takes out and goes to a leg D above spy 418.31 at point 32 one penny starts with a D so this becomes at this particular point quite a positive action because the Chapman inside track weekly repellent zone has become a propellant zone the MacD's made an M shape pattern very positive stochastic still kind of week 67 which could be very positive if we keep going higher and the on balance volume of the weekly is still lagging and look the monthly chart this is a peak A that's a peak B gosh I forgot to put that in on the spy so this is an A right here peak A gray A and a gray B why is it gray because the Magdae is not yet turned up across positive the stochastic still down at 42% on balance volume is fabulous and the line period hasn't crossed positive so this says if it goes to a leg C I probably will have to call that a bi-signal in the spy and we'll talk about that in my show tomorrow in the tiger technicians hour where I do a lot more technical analysis of the Chapman wave itself so a couple of questions so someone asked me in the den where where would the resistance be on the TQQQ so let me just show you I've got the QQQQ I did an analysis a few weeks ago I think it was John in Philly that asked me about it and what I was looking at was this this cup formation and it's a very elaborate one it's more how it's going to look messy it doesn't matter I'll show you what I'm looking at so the remember I spoke about the rectangle pattern and the narrow the narrow rectangle and the large rectangle well this is a large what I call it a lopsided gravy cup what happens is it goes down quickly then it starts to make higher highs and mostly higher lows it did get to that peak D there's your sharp drop off to that peak D now sort of brand new move that I call E slash a really and then f slash me with a doji candle last week the week is young we still got a whole we got we've got an hour and a 45 minutes to go today and the whole of tomorrow anything can happen we could get bad news at the open to my economic news everything could tumble down but if 311 we're three sorry let me just get this throw it away I would break up to go from the 19 right now anywhere I'd say three hi currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the great time to try out Teddy keg stats tiger forex report Teddy keg stat breaks down the forex markets every Monday using his 30 plus years of experience as a trading veteran of futures forex stocks and options Teddy releases his weekly tiger forex 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 forex markets tremendously when you sign up for the tiger forex report you also gain instant access to Teddy 60 minute webinar archive he just hosted 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back guarantee at tfnn.com tfnn educating investors at 1-877-927-6648 internationally at 727-873-7618 Hi folks, we're back. Fousal Chapman usually done. I do the Tiger technicians hour at 10 a.m. my service here is the opening call they use that so what I'd say this as my show is finishing at 11 I didn't have a chance to do it as thoroughly as I did because I just grabbed at the last minute because I was talking about the techniques and I said I know a lot of my charts look very complicated but each one is just built up on a very simple technique I look at price time I call it the price time match and basically it is just bar symmetry you look at the number of bars on the left and you try to find a pivot point or at least I call it a plum line the mid midline that's like the mirror image is going to start the number of bars on the right and what I'd said that the E-mini should attack yesterday's high at about one o'clock two o'clock which was at 4145 I believe it was 4154 and I said it should do it by 120 now the reason why I said 120 I did it real quickly but I didn't have a chance to join everything I had look how simple the technique is so here we are at what time was it 678910 right there right there and I said I'm not even sure we had gotten there and I said so my target would be this is a plum line and I would expect that at one it turns out that the exact time that I should have said was right here and I usually what I've lately done what I've lately actually for months I try to put an X in to say that's the time that I'm looking at bam there's the X so what was the time the time would have been right there I say 120 it was no it was it was 120 okay so 120 and we were down here at the time the 41 40s but the reason I said that is because we were making higher highs higher lows and there was momentum to the upside and this is the way I like to look at things as simply as possible then what I like to do is I like to I didn't have time to do that I would grab a particular point on the left now I have webinars on this if you're a subscriber to my opening call you'll be able to get all those webinars they discussed every one of these techniques this is the chat we've inside wedge target in this case because it's going up would be the target repellent line so I would have drawn that in but because I would have drawn it in if I had time this this looks like it's just missing everything so I would have automatically have said and I'll do it right now even though I know what's going on I would have drawn it to so 10 o'clock 11 right there I would have drawn it like that and I would have said okay if it it could be we could get to that level the 41 45s by 10 1150 10 10 to 10 to 12 Eastern time but it looked like it needed a lot more time so some of it is purely technical I'm doing just an athero arithmetic count from the left to the right in this case I just grab a particular trend line and then I match it up and then move it to the right change the color but that's what I was looking at but what I want to do earlier on than I thought now I've just done so much and I've got so many things going on but here's your left side right side price time match to this particular level right here and that said if I chose the same level then by at least by four o'clock today we could be tackling this Eiffel Tower that's another technique I'll discuss it in the morning if I have a chance tomorrow morning of 41 77 75 that could be the next target and that could get there and I use this particular trend line this on the one minute on the 10 minute chart this is now the chart that I use with all the notations that I have the other one was just a naked chart and just grabbed it to say you can make it as simple as you want but look at these extensions to the upside how each one is worked out I like the parallel expansion expansion when it takes the same number of bars up as it had on the left side look that one and that one and this one took a longer time but it got and now we might even have a fourth one and let me just see if I can put this in I'll have to change the color it's make it or the pink would be negative but this is make it pink so you can see it and that would be from that bar there it is so we've already exceeded that so this is getting real close we've already hit 41 uh 41 73 so it's not going to take very much to get to 41 77 75 so this is I want you to show you that technique because why the question came up where do I think that the the the t q q q and I I don't know I should have asked Nancy is this very short term or just one but I'll do it either way could you repeat please we lost you on the t yeah so if I'm looking at this as long as this is the weekly chart this is the daily on the left this is the weekly in the middle on the right is the monthly and it's the q q q NEX100 trading vehicle. If I use this plumb line right here, that could take me to, that would be a new one, and that would take me right there. That would take me to the week of the 12th of May to get to 334.42. That's the projection, but the resistance is a little bit lower than that. The resistance is at 319.40. There's 319 level. Oops, I didn't mean that. That's wrong. It's at 326. So I like to go step by step. The MACD is good in the weekly chart. The stochastic is fabulous at 94%. Anything over 90% is really good. 94% is outstanding. It says that you've got to be careful because at some point you're going to come back down under 80%. But at this particular time, see if you go very quickly up and then break down, that's a really negative thing in the stochastic. But if you can hold flat, that's fabulous. So look at the on-balance volume. Still underperforming, so it has a way to go. So far, this is looking much better. Now, let me move this away. Now, I could do something else. I'll do it just to show you that the other techniques that you can use. I have something that is a Chapman Wave support and resistance lines that are automatically drawn. So I got Tesla up here. Tesla was a question just the other day. Where would I consider to buy? I'm still holding off right now on the buy on Tesla. That's for that person. But now let's just go to the QQQ. So this is the 10-minute chart. It's broken above the 318.318.64 resistance. It's a 319.20. That's a 10-minute chart. You have support at 312.58 in the daily chart. 317 is the next resistance. It's above that. Then you have something way up at 327. It's broken all the weekly resistance levels. The 314 and 315 level on the 120-minute is broken 319.11. Exactly where we are right now is the next resistance. And the monthly chart is 341.07. Look at that cluster in the 250, 243, 229 level in the monthly chart. So I'm looking at this and I'm saying the surprise to the upside today after that ugly last hour yesterday. I like the action, but there's a lot that has to happen on the daily chart. Look at the Magdy's turn down, the Stochastic's week at 68 on balance volume is trying to turn, but the 9 is still strongly above the 14. And that usually says if you can reverse after a sharp move below the 14-period moving average without the 9, the green 9-period moving average, sliding under the 14, that's a good sign. You should have enough room to at least test the left side high. And that's 321.563. So that's where the TQQ and the TQQ would have the equivalent of the next resistance of it's a little high actually. It's at 28.30 in the 28.30s. So far this is acting well, but that 200-period moving average I left. If you want to take advantage of this sector, now is the time to subscribe to my Gold Report. The Gold Report is a comprehensive look at the metal sector as well as the markets that move gold, which is the currency and bond markets. New subscribers get a 30-day money back guarantee, so you have nothing to lose. Every Monday morning I publish the Gold Report with coverage of gold, silver, bonds, the XAU, GDX, as well as more than 30 different mining equities. To see for yourself the types of profitable trades that are recommended within the Gold Report, sign up now by visiting tfnn.com. Don't miss out on the next great gold trade. Sign up today. 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 4.00 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. 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. If by tomorrow we're able to go above 2843 by one penny that'll increase leg B, music B is extended. Remember this is a floating letter, once it breaks above A it starts a floating letter and that says when you make a peak in other words a lower high bar, the following bar, if there's a lower high then it has to be called a peak. So far it's a leg B and I've got it in blue because the stochastic is so strong at 91 that says there should be a buy mode to a leg D at some point. It doesn't tell you when, other techniques tell you when. So the win says QQQ and I'll tell you what I have to do, always like to do this. This is because the market's so strong at up 1,351, S&P's up 52 but you've got to be prepared for anything. There's still more news to come, economic news to come tomorrow in the name whatever but this is the level. If the QQQ in the next week closes under 309, sorry 311 that's going to say uh-oh, low lows and low highs without making a new high that's going to be a negative and that says that weekly chart extends but if there's still the strength going into next week then I'm anticipating that over the next couple of weeks we get I'm going to go one step at a time. Three, what did I say it was before? It'll be this high here was 321 so we've already surpassed that last week. Yes I would just say 324 would be the next level. If we can get to 324 in the next 3-4 sessions I'd say that's a really good sign because it's starting to help the monthly because look the monthly needs the histogram of the MACD is improving but the MACD is still very weak it needs to it needs to cross positive and that's going to take a lot of time and price and this is a spectacular move to the upside. Now I'm not sure there could be but this is fabulous uh so breakout the doubt 30 oh 34,000 uh no we're not there 33,999 94 I've seen this stop right at $1 below so in this A2 saying that then breakout the doubt 34,000 hats not yet not yet I like to go one step at a time okay now let's do this so so Nancy if you're talking very short term the target would be if the QTQQ goes above 320 I wouldn't say 20 yeah it just it just needs to get into 320 then that left side high within two or three sessions should be hit and then that's where I would on a very short in basis I would say um if that was your target I would say that's where you can take some profits but I would like to say to you that as long as the low of yesterday which was at 312 was it I think it was 312 something yeah 312.57 on the QQQ is not taken out in the next three sessions I would try to hold as long as possible so you can take little bits off as money management uh your team cheerleader um are you on the team or the cheerleader pom poms oh that's that's that's dead no no that's good no we got 3406 very nice thank you all right now I went on a day like this it's so difficult don't get carried away you've got to do your your um you've got to do your homework regardless because even now with an hour and 20 something minutes to go we saw that yesterday it was that last hour when you suddenly got that pullback uh so Nancy said think about the 28 30 resistance in the TQQQ is my break even oh break even I did not anticipate probably the downside we've had the past week my fault oh Nancy that brings me to something else money management um I'm talking to you I'm talking to myself I'm talking to everybody out there don't think it doesn't apply to anyone who is a professional because it applies to everyone if you got into a position and it went against you I've got a rule of thumb and I've tried to stick with it for some time now and mostly it's just it's the being the best thing I could ever do number one is you've got something that's going I remember this in the grass the three times long position she's got but if it goes against you my rule of thumb is the moment you get to break even and actually I've done this I didn't care about tax consequences anything like that I get I either get out of the trade immediately and I stared at for about an hour or so and I said okay this is a brand you buy I'm getting back in but now it's a completely different trade now I can say I'm getting back in this is my stop and I'll be sticking to that stop if I'm wrong but if you if you've been if you've been sitting and and sweating a little bit I'm just saying to you make a plan as it hits your number take half off and keep half on do something that makes it and one of the reasons is I hated when I've got it hasn't happened for a long time when I've got something that's just wagging its finger and saying told you I told you to get out you didn't get out now look it just it just irritates you and it just it bothers you and it affects other trading at least that's what I found it means you're not thinking correctly I missed a couple of things for my subscribers because we had one small trade that went against us for about a 20 it was just small it was a very low price and people didn't put huge amounts of money in but it went against us for 25 I think average was about 25% loss and we got out I said we're out I'm not going to hold this because that I cannot do well it sat with me because I know some some subscribers must have got it even though others had other positions that we had fabulous gains and I just it sat with me and that's the reason why I didn't get into the low price gold stocks that I wanted to get out I can't go through if I'm wrong it's not no I don't want it to affect me so I'm saying to you if you get back to break even or close either take it off and redo the trade or immediately have a stop in and say okay I've been I'm not going through that again but I'm prepared to have name a name a 3% or a 2% loss or a one and a half point loss make something you'll stop and stick with it that to me is a lesson that it's an ongoing lesson that some of us it just it gets repeated no matter how hard you try and I've tried for a long time not to have any any losses more than five or six percent because we can always make it up quite quickly but when it gets to the double digits 15 18% or 22% it's just harder even though it's a tiny part of the position of the portfolio it doesn't matter it's just okay enough for that next thing I want you to do is so the questions came in please review btai I'll just do this real quickly because most people will not be in something like a btai this is a very low price oh no this is the one that's an 1804 biocell therapeutics I had typed in what they did now I don't remember anymore because I had to redo that it's coming off a low this is a good candle but one good candle does not make a trend so what I'm going to say is if you are in it what I'm going to say to you is btai which is bioxl therapeutics had a gap and it's taken forever to even get close to the gap which is the high of 23.10 on the 10th of March and the low of 24.32 we were down and the 18s are now at 19.62 until it trades and I'm going to now go to the weekly chart until it trades in the 22s at the 14 period moving average which is still pink pink means that nine is way under the 14 until it trades there you can't get rid of the gap whatever that gap was and but once it starts to trade then it holds it for a while it says good whatever drag the drag this particular symbol down at that point is now history can look at it in a different way so this is good but 20.60 is the 22 period moving average it hasn't even used that as a resistance point yet so let's see what happens when it gets there I'll be back down to 358.52 basal chaplain sitting in for this hour the two to three o'clock hour 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 everything in the universe is governed by the fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing 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investments dot 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 8664767523 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 for side fund services llc this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz hi folks we're back so i had a question about s this open for test co i want you yesterday i had uh uh someone that that asked you about fcx which is free port mcmoran ink copper and what i'd said is i did the work and was down here and i said if it takes out if it starts to trade under yesterday's low which would be tuesday's low of 40.81 i had an option call but i think it was just one option call so if he had a few i would have said at this particular point take off one uh you've got a little bit of a gain and uh i would use that as a little bit of a cushion and i'll try to keep them because it's going into friday anything can happen and it's holding well so far after the gap up and it had made a new recovery high well it turns out it's now at 43.06 so um we must be seeing a very happy camper there and you've gotten till tomorrow but i wanted to show you this is the left side i use a particular candle to get the bar symmetry it's not from the plum line you couldn't do it it's lopsize like a gravy cup so i used a different one and i said that i anticipate that by the 17th you should be getting to this level right here which is 42.31 of course not only did we do that earlier in the morning but we're now trading at the high of the 43.06 so i'm going to suggest uh to to if if if he's listening um that this is where you want to if you're going to hold it overnight if it closes at the high of the session you're going to get the best premium you could if there's a sudden pullback for whatever reason tomorrow morning your premium will probably shrink about 20 of what it is right this very moment at the high of the day with another day to go people will be getting really excited so i'm just going to suggest this is where you got to think about did did you reach your target is this kind of what you were expecting a hoping for and now it's unfolding so now's the time to be thinking what do i do it's i'm leaving it up to you uh if you had asked me what i would do i would say i would just give it a little longer if it closes the day anywhere at the high no matter what happens tomorrow you're getting a fabulous premium from what it was yesterday just consider that if you've got more than one that's a different picture so let's go to scco which is also copy stock copper stock southern copper trading scco trading at 80.48 up 3.09 up 4 percent this is a leg c and it's just taken out i draw this in i don't remember someone asked me about it recently and i drew this in it's an expanding wedge formation well expanding wedge formation people have all sorts of techniques involved in expanding wedge i just say just let the trend lines do what they have to do and then see where it goes well lo and behold you hit the bottom one and took it out you went all the way down to 16 6.47 on the 16th of March now it's gone peak a peak b leg c and leg c is coming within fractions of this trend line and then what do i do i go like this click green you don't have to have all these techniques you can do it very simply but i like to do this because i've got it here in trade station so what do i do i go red and i say this is the chaplain wave inside inside track repellent zone it's just gotten to the first line of the repellent zone if it closes in a leg c above in the next two days above 80 um i'm going to say above 82 if it pulls back it should go even higher for leg d and this leg f now this is the thing that i have a little trouble with because i'm just continuing the alphabet why because am i going to call this a brand new a which means you're still going to go to b c and d i can't do that so i'm going to say the magnate is good in the weekly chart it's gone back to positive stochastic it's a little bit weak at 75 percent on balance volume is good the nine is way above the 14 to me that's great so i'm going to say there's a chance it's only a chance that this isn't just a leg f but it's an f slash a but don't get carried away because it's a leg d in the weekly and in the cup oh let me just show you this another technique that i like to use is something that i call the falling axe it just looks like an expanding cone but a declining expanding cone and if i can just move that out the way we'll get it there it is so you see this pattern right here you ran run run up and you go to a d e or f and then you start to make lower highs and lower much lower lows then all of a sudden it finds support and it turns into either a v shape or a cup shape formation formation and if it takes out the downtrend line it could go one to one to the upside in in a diagonal move parallel and same number of bars to the upside but you've got to look at all the trump the peaks on the left side as resistance points well there isn't much because you've already taken out this peak on the left side through the peak of the april of a year ago at 79.32 and then you go to the next high which is that a peak b i'm going to talk about this in terms of the s and p in a moment um and that was at 81 83.29 i show you all at 80.53 and leg d in the um monthly chart with a mac d strong stochastic at 84 that's so interesting because high grade copper itself is doing okay high grade copper let's just go to high grade copper high grade copper it's just broken out this is now a leg b look that's a peak a from this low right here the stochastic still weak so i can't actually go blue i'm going gray meaning i'm still not in a by signal um i could if we close sharply above this peak a right here the trend line resistance of 44.14 on the 24th of march and today the highest 4.14.3 oh 44.143 and that was 4.148 so if this goes to 4.151 and that's a breakout i'm going to have to call this a buy signal not yet a buy mode and you're breaking out in the weekly so you see what i'm saying i had a call earlier this morning to say what do i think about interest rates and i said there are so many conflicting things uh look the builders b l d r s which is the builders first source they do the construction they do all sorts of things and an all-time high all-time high how can it be with interest rates like this when i look at the interest rates i'm saying i don't think they're an issue right now i think interest rates at this particular point are just stuck in the range the indirect angle which can last a lot longer than your patience so until it breaks out at over 110 i'm thinking that um it's just stuck between 110 and 99 um and it's range bound so all the what is the fed going to do they they're looking at all sorts of things and they're getting this conflicting information syntax beautiful move today it's up four and a half at 458 it's almost near all-time highs this is overalls uniforms rentals what is the fed going to do look at the xlf the exact opposite yeah it's a good day today woohoo it's up 27 cents at 32.55 but the financials already what the the the people at the fed are probably are looking at in with great trepidation they have no clue as to what's going on because of those two big bank failures so i i suspect that this is not only a buy for catered market even with insect as you've got that if you look at tall brothers tall brothers is um holding steady it's not breaking down if you look at the hgx which is the housing sector it's gone peak app it's just making a possibly peak t today in the lower range but it's not breaking down like you expect like the fed predicts want if they want to uh um if they want inflation numbers to come down boy it's a tough thing to dial us up three hundred seventy six s and these are 54 nice sessions so far be back if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try tom you brian delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30 day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of tfnn.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 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tiger's den available to all tigers and tiger'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 I believe Jacob to be sitting in for Tom so should be great show but what we're looking at you as I wrap up check out my opening call my dating newsletter and check out tomorrow I'll do my show technical Friday I do more of the chapter eight methodology so look at this the Dallas in leg D all the technicals are good it's a very strong move up 34,331 on the 14th of February was the high at peak D but all the technicals at that peak D and all the let me just drag this across and you'll see something very interesting this is the daily chart look so oh it looks messy so that peak D and that peak E back in December look the technicals were okay at that D they were good but they were much weaker at that E when it were fractionally higher look how it fell to 32,573 then I made another peak a peak CD to 34,332 on this on January the 13th and then what did it do the technicals were much weaker and look how quickly the stochastic fell and it broke down then it hit the 200-period moving average ran again to a peak D this is the third one in three weeks actually went to E so it's three out of four of them were Ds 34,331 on the 14th of February look the technicals were very weak no the technicals right now are strong so it says that we should get to buy Monday the 17th we should try for 34,331 that's if there's a left side right side price time match that's bar symmetry so the key support now is at 33,000 I'd say at this point 33,600 should be very strong supported there's a sudden big slide but we're getting to the chapter we've inside track repel a zone in the week you said it needs to break there so it's the same thing with S&P before we go to the break and you're going to go over to to the Tom and Brian show look leg E with the technicals still pretty strong in the S&P and that says 41,95 was the high on the 2nd of February cannot get there well that's a long way to go it's 50 points but if in fact there isn't a sudden sell of tomorrow on any economy Monday we actually get to 41,61 it says yes in early April which is mid-April 41,95 and that will help the week because they have a wonderful rest of the day check out my and I will see you tomorrow morning at 10 o'clock for the tight conditions hour hold tight hear the news and handing you over to Jake