 Sign up today and become a part of this educational community of traitors. Just visit the front page of TFNN.com The following is a presentation of TFNN Trade what you see With Larry Pezzavento Call now toll free at 1-877-927-6648 Or internationally at 727-873-7618 Now Larry Pezzavento Okay, looking good Billy Ray feeling good Lewis. I want to start out the show today by looking at the Dow Jones last night You'll notice here that we had this huge break from the high that we made here on the Friday We came down and we hit a 1.618 expansion of that move between Thursday and Friday And then we had to move up here right before the open and then the pullback here right at the 382 and folks When this thing exploded through here We actually had anticipation that that was going to happen. So we raised our stop From where we were we were our stop was way back up in here So moved our stop down a little bit and as you can see it went through the 618 and it went to the 786 and if you measured the a Bcd spot on right at the exact 786 and packed off about 150 points from there But the market is still relatively strong Even though the fact that we have meta is down on the day and Apple was down on the day So all of that is telling us that my guys there might be some more strength left in this market But I wanted to share with you some of the frustrations that I have as a you know a teacher a mentor Broadcaster whatever you want to call me You know I try to show people that the patterns that I'm looking looking at sometimes they work sometimes they don't that's the key To all of this, but I wanted to show you one that there were two of them Actually that we're a little bit frustrating today. First of all, we got stopped out of our crude oil complex crude oil contract at that we lost 70 pips on that but we picked up $1,100 in the gold market and $1,100 in the Now Dow Jones and so those have been working relatively well But the one I want to show you right here because I spent a lot of time on the videos Over the weekend, you know giving some ideas of where I think some of these things should go and we had an absolute incredible setup in The soybean market now. This is the November soybean, which is a new crop soybeans. There's where we were on Friday Okay, we wanted to buy it. We wanted to see how though if there was a weather related thing where it would collapse But it did not it opened higher and then it pulled back, okay to the 61 percent retracement But look what happened right here folks. There was the easy money right there was at 382 right there The risk was extremely small. It was also easy buy right down in here also But that was a perfect 382 that one had 20 cents in it So you're risking five cents to make a thousand dollars at two hundred fifty dollars to make a thousand dollars Those are really nice So, you know, don't make money every day, but you're trying to make money most of the time But the problem is you don't know which ones are going to work and which ones aren't I want to share with you another one That we were watching last night This was really interesting because this had all of the earmarks of a really strong trending market That we're going to be talking about with the great deal of anticipation here on August the 2nd when we do our Alive trading day would be my last one for the year might even be my last one folks because I really get I really feel that I'm getting into the area where Doing a regular radio show is getting a little tough on me But I'd like to be able to you know Maintain the contacts that I've had a tfn in here and maybe be the roving cowboy where I can set in for people That are six and with five people in there six people, you know I'd probably under a couple times a week But that's not the that's not decision that I'm ready to make as of yet. It won't be made until the end of the year I'm going to go through to this end of this year Hopefully without that God willing of course, but anyway, this is the Japanese end You'll see that the high up here was right at the it was a beautiful three-drive pattern up there 185 50 it never got there folks it got to 185 25 and then it's had the big drop down This is what we were focusing on in the foreign currency situation of the video that we sent out on Friday because here's what we were waiting to see let me just get this up here I got to do two things here. I'm trying to do them all at once. So it's not not too good There it is. This is the one I want to see okay Here is the picture of the dollar yen dollar US dollar versus a Japanese yen and as you can see the dollar is losing To the end here, but look see we here's our here was our first ABCD pattern here a couple days ago That was just absolute perfect ABCD right at the 61% retracement Then we broke really hard and then we rallied up on Friday. You see where we went in Friday Okay, and that's where we opened here on Sunday night We opened just exactly at the 382 right there and look what's happened folks We've fallen off the bottom of this chart already today So that's the advantage of that 382, but the 382 has one other vantage that I'm going to share with you Why show you some examples of strong trending markets when we do our show on August the 2nd There's you know folks what I've been doing this for so long. That's what 17 years now I have met so many smart people I mean guys it just absolutely blow me away many of them are our guests that we have on here but there's a lot of just private traders out there that share me little nuances of what they use and Some couple of them have showed me the same thing They have no idea who each other is ones in Alaska the other ones down in Texas down in the Houston area and They show some things with the 382 that I didn't even see and so I'm going to be Checking to make sure that I can share that information with them because I don't want to break any Confidences, but that's what we want to be looking at. Okay. Here's another one folks Here is the the NASDAQ folks. This market is no longer the leader of the pack. I know it's uh, I Don't know what's happened here, but you'll see this is the this is where we were there was the ABCD pattern As you can see on Friday the market breaks down makes a new low today Match the low right at the open went right up to the 382 and we have not exceeded it as of yet Now that doesn't mean we can't but we haven't done it as of yet So that's what we're paying very very close attention to I hear today So I hope that helps these are some of the things I want to look at because I want to I want to be able to show you Examples of why I think these things are working and that's the main thing Here's another one. We're talking about the dollar in the fact that the currencies were moving so fast the the Mount of Volatility that we had in the Euro on Friday was highly predictive There was there was a close on Friday right at the 78% level right there And we said right in the video we get a little above that and look at this It actually opened lower Sunday night and then took off So when we got above that boy that told you that this was really in a powerful move And it's already moved up about 40 pips from breaking out above the 78% level So those are some of the ones that we were watching here today along with the gold market I think I did the gold market chart. I'm if I didn't I'm going to be a little upset But we'll find out I don't get upset too often But occasionally I do and I haven't done it yet But let me show you the the e-mini S&P today though folks It's had some terrific moves And if you don't think these guys out there with these algorithms don't use these numbers Think again look at this perfect Gartley folks You have a beautiful eight. There's a look you have an ABCD right here. There's a ABCD okay, and then you have a perfect Gartley to the downside it drops 20 some handles and then it's on its way up It's amazing how they work. Let's take a break eight seven seven nine two seven six six four eight currencies commodities and bond markets are as important as ever right now with how they're driving the Volatility in equity markets across the globe, which is why it's a great time to try out Teddy keg stats tiger 4x report Teddy keg stat breaks down the 4x markets every Monday using his 30 plus years of experience as a trading veteran of futures 4x stocks and options Teddy releases his weekly tiger 4x report every Monday morning with coverage of all the major currency pairs Including the dollar index the euro dollar pound dollar dollar Swiss Dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30 year t-bonds as they both Influence 4x markets tremendously when you sign up for the tiger 4x report You also gain instant access to Teddy 60 minute webinar archive He just hosted 4x strategies and fundamentals What is behind the tiger 4x report for all the details and to start your 30-day tiger 4x report subscription today? Visit the front page of TFNN comm TFNN educating investors Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 Finishing it number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of Trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter Mastering probability and you'll receive access to seven of Steve's educational webinars Absolutely free at TFNN all our newsletters come with a 30-day money back guarantee So you have absolutely nothing to worry about visit TFNN.com and try mastering probability 30 days risk-free today TFNN educating investors Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien found a TFNN over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive Informational edge you need to succeed These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio Get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free With our money back guarantee at TFNN.com TFNN educating investors Free at 1-877-927-6648 internationally at 727-873-7618 All right folks We're gonna take a look at the gold market and we're also going to take a look at the German DAX and also the crude oil market as you can see here in the gold We've made a beautiful ABCD pattern here of the last couple of days right down there at that 1922 level It was 1918 this now has a well over a thousand dollar profit in it So the way you handle that is you lock in at least five hundred dollars of it And then let it go to see if it's going to make it as you can see right now We were setting right at this 61% retracement here in the gold You'll see it right there. There it is right on that spot right there And if it gets starting it above that then you got the possibility of an ABCD Which would be a three drive pattern well that will take old up another 15 or $20 maybe even $30 and that would be a really really interesting one because That would be a three drive to a top pattern and if should we get there and still long That's when you stop and reverse in other words You get out of your long position and get right back in on the short side because these patterns repeat You don't know which ones are going to work and which ones don't but that's it Here's the one I like the best folks and it didn't work and the main reason is I had a very close stop on it Close enough for us because we don't like to risk a lot in all these trades most of the time Biggest stop we have is usually a thousand dollars That's when them, you know the Nasdaq is going crazy or the S&P or crude oil this time in crude oil We risked only 70 pips wouldn't make any difference We'd risked a thousand because it went higher, but you know we had seven days up Unfortunately made a new high today, and of course it's reversed all of it a dollar a barrel, and that's probably the top now Am I gonna forget this absolutely not the first thing I see Johnny? Yes I know Johnny's gonna raise up the old 382 what I'm gonna watch now We've dropped a dollar a barrel since that new high was made at 74 15 now. We had a stop at 74 82 so we well eighty seven excuse me 73 80 73 82 was our stop we sold it at 73 22 and Anyway, we're gonna get that money back is all I'm gonna do now is I know that I have a higher problem building now That's the top is it because this was eight days. This was nine days folks It might go 10 11 12 13 days up I don't know all I'm going to try to do is to find a pattern that allows me to trade it now since we broke a dollar a barrel from Here I'll be watching for the first 382 retracement in the August crude oil And that'll usually be about 30 40 pips and if I can get that one off Then I know exactly my stops above high and I have a really good chance for the market to go a great deal lower All right Okay, now let's move on and talk just a little bit about the German Dax because it's at a big big pattern here and It is heavily traded all across Europe and we'll get this up here and you'll be able to see it here There's the German Dax right there and as you can see it's a perfect a ABCD coming in right out of 61% retracement Folks this can't get any better than that. Well, it can but they don't always tell us about it But anyway, that's that should tell us we should be getting a rally here in the German Dax And we still had a rally going in the S&P no question about that animal, but that's a that's what we're being attention to Right now. Okay, so this is what we're watching. I hope you pay or it can use some of this information I remember our guests tomorrow or today will be Mike more of more analytics Apollot poly T Douglas tomorrow apollot T web tomorrow Wednesday, Stan Harley Thursday is Jeff Hughes and Friday will be Norm winsky and we've got a lot of things going on which are really good now after that action that we had on Friday The markets had a pretty good correction. The Dow Jones has got up to the 78% retracement of yesterday's high The S&P 50% of that other high and the Nasdaq and the Nasdaq and this is the one that's really surprising folks Let's just see this again because this is all the Nasdaq's been able to do today It's all it's been able to do and that was early in the morning It went right out see you came down almost made a new low and then right back up hit the 382 of that high Right back here the big high and by golly. It's just not going anywhere right now Now if it closes really strong up on the day about 50 60 points going to be a big big difference That's going to be a big big difference if that's telling you that you're going to be looking at something that it's going to be You know pretty exciting to watch I've had a couple questions about the corn market folks the corn has been decimated or not decimated because that'd be ten times but it's been hit really badly and What we're doing now is we're waiting to see some type of an ABCD pattern within these Four hour and 60 minute charts. We've been looking at for the past ten days There are they have coming up, but they're lower than where we want to be right now In other words, we think we can get prices a little bit lower based on what the corn is doing Now soybeans exploded to the upside and had a pretty big correction to the downside in perfect ABCD three drive to a bottom Fashion we'll show that to you again because this was one that I missed I bought some of it at the 382 but boy that with easy the easy money was right on the opening this morning there Late the late yesterday afternoon at four o'clock in the afternoon here when the Excuse me five o'clock in the afternoon here in Tucson when the grains opened and as you can see here I wanted to buy them unchanged or better Of course, they gapped up and really ran up quite a bit then they pulled right back to the 61% retracement that was a goodbye and I Unfortunately, I Happened to be asleep when that one was on because it was early in the morning But I did get this nice one here on the 382. This was a perfect 382 And it gave me almost as much as the other one did but it would like to make it on both of them But I didn't because I was unprepared and there's nothing else that I can do I want to show you something very unusual folks. This is what's happening here with the NASDAQ versus the 10-year bond This is we've never seen anything like this before Frankly, I get this from rich Anderson I don't know what it means, but the fact that we've gone over this stuff for years and years You can see the correlation. How high it is look what happened here. This was when the AI thing took off These are the bonds. Okay, this is the NASDAQ boy. That's a really big divergence folks So we need to pay really close attention that that's why we're watching that dollar in because it's really an important one To look at the same reason that the euro was, you know, that's a that's a maintained it when you're watching these things You got to decide, you know, maybe something's happened that has changed the way they Gaging things is that may it may or may not be it that I don't know But I just look at the patterns and those are the ones that I try to get to and once I have those working for me I have a pretty good idea of what we're watching folks when Mark Douglas used to work here Well, he lived right down the street from him for six years, but during that time, you know We we met every day almost every Saturday and Sunday, too We're always doing something as a family all holidays Paula made a beautiful spread Thanksgiving Easter Christmas all of them were just absolutely wonderful But we are in the midst of our mom have to switch what I'm trying to get to is the monsoons folks We in the monsoon were Susan starting in June the 10th. It goes to September the 10th This is the longest period. This is the 10th of July We've gone one month without a drop of rain and that has not happened in Tucson someone on the radio on the TV Oh on Sunday said that hadn't happened since 1885 That's when they had the gun fight at the okay corral folks over in tombstone tombstone was twice the size of Tucson back in 1885 and it was bigger than LA We'll be right back folks. We got Mike Moore of our analytics coming up. Please stay tuned 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 Tom O'Brien publishes his weekly gold report every Monday morning for subscribers Consisting of coverage of the XAU HUI gdx the dollar bonds the South African Rand as well as 25 different mining equities with specific buy-sell recommendations The gold report New subscribers get a 30-day money back guarantee so you have nothing to risk Subscribe to Tom O'Brien's gold report newsletter now at TFNN.com Everything in the universe is governed by the Fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the Fibonacci 24 seven newsletter at TFNN.com When you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento on stocks You need to pay attention to and you can trust Larry's analysis after all He's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking Expect notifications from Larry on market movement You need to act on at any time first-time subscribers also get a 30-day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up Subscribe to the Fibonacci 24 seven newsletter today TFNN.com Educating investors 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 This segment is brought to you by think or swim for more information Just click the think or swim banner on the front page of TFNN.com Okay, we're back folks with Mike more of more analytics on the line Mike. How are you doing today my friend? Good. How are you Larry? I'm glad to hear you. I'm okay Yes, yes, I had a couple days off to clear up my laryngitis and stuff that I had and Everything's good. We had such a drought here. We haven't had any rain here for six weeks That's the first time it hadn't happened in about 120 years. So it's been been very dry, but it'll be coming We're not worried too much about it So anyway, tell us where I live Yeah, I know it rains all the time over there. You've had a deluge What I wanted to ask you Mike is the fact that we're looking at a crude oil market Is it breaking out or is it a false break out? Why don't you tell us what you're looking at because you told us it was going to rally and by golly It's certainly rallying. So tell us what you're looking at Sure, let me just pull it up right here for a second So You crewed all we had a big break just the other day. I mean just back up a little bit and kind of go back to where Just give us some placement here We've been bullish since the break above 65 31 like we talked about on the last Show we'd run up on that rolled all the way back over and but that's still in place from the previous contract in The July and then the trade back above 6825 warned of strength. We've seen $5.75 of that and then the trade above 70 79 Also projects us upward $4.35. We've only seen $3.21 of that But if we fail back down through that below that decently that I want a decent pressure so right here You know, we've seen a break from back down in here the break in here and the break in here again And we're still bullish and after that big run up to I thought I expected some consolidation and maybe should pull back here before heading higher But still overall bullish Unless we were maybe to fail back down through this. This is a steep line in here, but I wouldn't give it a lot of credibility It's kind of a strange drawing Nonetheless, it's going to come in at 71 75 as of this hour and move up Two ticks per hour breaks down below this lower line here that's going to be An additional sign of pressure and that comes in at 70 18 minus 78 minus one one tick per hour. So that'll bring a decent decent pressure as well Sorry, what happened to my But in general still bullish in there and the other products are also bullish You want to look at the are Bob in the heat or have any questions? Oh, yeah Your analysis is what's important. So you just tell us what you're watching and we'll just follow along Okay, so the unleaded gas is well first of all the story you should really be taken over to the cracks But the heat cracks been really been leading this charge up for the past number of days since we broke back above this line again suggesting that if you were along the The heat instead of the crude Could have made about another four grand per contract just in three days And then the gas crack also has just been rallied just the past two days and now a story consolidating and Then looking at the are Bob to heat spread that's been in this big consolidation here It's rolling over it's failed back down through this these lines right now So that warns that the are Bob is going to be weak relative to the heat or the heat strong relative to the are Bob meaning that you You'd rather be low on the heat than the crude or the are Bob if this is gonna run to the upside That makes sense Yes, that's kind of the power of Looking at these other markets and you can see that clearly in the heat how much more it's given here over the past couple days The heat also broke above a significant formation Well broke above this formation here pulled all the way back came to within 10 ticks of the stop here And then kept going and then it took out this higher formation. It's also projected higher that comes in at That's going to come in. It's a 249 30 to 27 today I'd said here that the trade above 237 85. It's brought in 18.56 cents of strength and Then the trade above 249 36 to 37 projects this upward six cents minimum 36 cents plus maximum And we've tamed 7.04 cents of that so far So just got the minimum right there You may pull back and I still think this has a ways to go on the upside if we fail back down through this line right here Again, which comes in at 249 30 to 27 today a very shallow line and that's gonna warrant a renewed pressure I Would just keep in mind that historically here After the 22nd, there's often a pressure bias in the crude from 722 to 811 Although oddly enough at the same time the heat's got a strength bias and that same kind of period in there So just a side note and did you want to take a look at the? by the way the most your Do most of your viewers understand what 36 cents means in No, you just assume that they assume that they don't that's the best way to do it. So, okay, so That would be like 3,600 times point four two Mm-hmm, that would be the that would be the equivalent of 15 point one two crude dollars of a move Wow, that makes sense Yeah, that would be the maximum big difference. Yes. Yeah Okay, do you want to look at the Brent or the gas oil you want to jump to Because I haven't seen Brent in a long time and there was one of the questions that we had for the day was Do you look at Brent and since you brought it up? Why don't we look at Brent and see what it see what it looks like? I mean, you can see right here. This is a you know, this general area right in here this whole consolidation area We'd settled above here popped up and we're kind of rolling back down into it a little bit But we've been bullish in the Brent This is a backup here is he tree back above 76 22 Again, one's decent strength. We'd seen two dollars and forty cents of that We've broken above this formation right in here and then we went right up in here into some exhaustion levels right in here And rolled over a bit, but I still think that this is Poised for higher trade the fact that it's failed back down through these Not a good sign short term But we'd really have to fail back down through this line before this thing really starts coming off and that line is going to come in at Roughly 76 11 as of this hour you come down. We take out this formation. That's a major bearish formation And if we took that out that's going to project this downward at least six dollars That's a gas well, which is very similar to the heating well Also was leading the upside along with the heat also broke above a bullish formation right here, which projected it higher I Did warn of one exhaustion area which is right here at 748 52, but we came to shy that at 745 75 and we're rolling over a little bit This is a t attained its minimum projections to the upside It has maximum projections that can blow this up through a lot of it and This line right here comes in at 722 and quarter to 722 even Okay, you got any questions on that before I move to the natural. No, no That's perfect. Yes. Go ahead. Oh, we gotta take it gotta pay a few bills might stay with me right back with Mike more More analytics folks will be right back You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at TFNN.com The opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman wave The Chapman wave up-down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices Get the opening call newsletter by Basil Chapman 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 Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio Get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at TFNN.com TFNN. Educating investors Biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade LABU or LABD Directions daily S&P biotech three times bull and bear ETFs Visit Direction Investments.com slash biotech 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 866-476-7523 The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services LLC This program is brought to you by Vista Gold Traded on the NYSE American and TSX under the symbol VGZ Back folks was speaking with Mike Moore more analytics Mike change subjects for just a minute You're you do an auto trading program and I have three questions from from a couple different people and here's the question the first one is You put all of these trades in in batches is that correct in other words They're part of a group But there's their own account and that's a batch order that goes in and they're all filled At the prices and then they're allocated to the account. Is that correct? Yes, sir Okay, second question is what are the fees for doing the auto trading program? There's 300 a month, but it's billed quarterly. So it's $900 a quarter Okay, the third question is is there a risk parameter? In other words, if you start to say with 50,000 and it got down to 10 Is there a place where you could say hey, I've had enough. I don't want to do it anymore Is there is that an option that someone asked if you could do that? Yes, but you'd really want to call bill or a lousy at BTR futures and Get in touch with him and give you his number in a second here Had it on here, but it's eight four seven something. It's an autodial for me. So I Give me one second I should have it on eight two three four nineteen eighty nine Eight four seven two three four 1989 I believe is a number that I have right in the the air codes eight four seven eight four seven Yeah, that's a cell number in Chicago So that's it. Why don't you go on and talk to us about one of the other markets that you're following closely Okay, yes So the natural gas here that's a that's a really good one. Yes. Yeah, well the natural we Let me just back up a little bit here. Just to give some Perspective Okay, so I'm warm. We were likely in the last stretch of the move up from 224 40 with possible exhaustion at 294 10. We talked about that in the last show. We came right up here. We just Came shy of the exact solution level by four ticks with a 239 60 high and have rolled over 400 ticks into a bearish correction Against the move up from the lows We've come off here We sort of took out this first the second exhaustion level and we've rallied up a bit here So I think this is more of a corrective in nature not a trending move And if this resumes to the upside then this could be the start of a whole new bull structure to the upside Especially if you take this line out just above here I pulled this back up for a sec Yeah, that comes in a point plus point seven of a tick per hour that's going to come in right there Around 274 50 and increase about a tick per hour. So break back above that I think we're going to head right back up to these highs 293 60 and then continue on with the whole move boss bull structure out of here and Just as from a little bit larger time frame perspective here You know, we've come down here, we've kind of rounded out these lows here these these highs of I've been changing slope and changing slope in this peak at least intraday took out this peak but We're not on a daily level took out that peak, but it did not break above it decently So just came shy of the decent penetration Nonetheless though that whole dynamic suggests that this is probably a pullback and then the start to a new bull structure Okay You want to jump to the financials or you want to have any questions on those fine. No financials is next. That's great Oh, one last thing I wanted to show you So one important spread to watch is the DC spread include and last time we talked in the show We've broken below this major formation pulled back up to it and Rolled back over attaining the minimum projections. Then when we took this out on the upside That worn a renewed strength back up to this formation And then we took this formation out and one thing I did say is that if we fail back down through this formation, it was bearish So although the outright still look bullish in general the fact that this failed Suggested these outright might roll over a bit more before slash if resuming higher trade If not fail their formations above. So this is always a key spread to watch What would be that what would be the trigger mechanism of that spread? The DC's what would what would it have to do for you to say yes, it's changed. Oh We'd already changed this one broke down below this formation a bit here at 400 Let me just pull up the analysis again But it's not a bullish spread in other words under breaks down that means it's bullish It's bearish if it breaks down there. So that's the spread of the whole front curve So it's you can see right here trade above three excuse me What's that bell you getting ready for Christmas? No, I'm telling you Everybody have a meaning for Decide to call But you can see here we've attained 125 ticks and then the trade above 397 projected to separate 226 minimum But we didn't see that and I said if we fail decently back below look for decent pressure So I think that this could come off back down to the you know 326 area But that's a warning for the outrides All right, so let's hop to the financials take a look at the S&P's which we rolled over into what looked like that bearish correction That we talked about in the last show I believe This whole structure from here to from here up from 40 62 20 40 62 and a quarter I'd said that we were likely Coming bringing that to completion. So I warned that back up I wanted to this there was likely the end of it if we took out this peak here So I said I wanted we took out 44 93 75 and settled back below This would want to pressure Before resuming our trade and could be possibly be a warning of an early termination of the move up from 40 62 and a quarter The possible entry into a bearish correction If so the correction should exceed a hundred and twenty-five point five points from the high and making the minimum target 43 72 75 so when we've seen 82 point five of that 125 point five from the highs I'm just looking at this a little bit more intently here You can see we'd fail back down through these highs here Right here shop salaries and rolled over pulled back and rolled over more so our minimum target here is still down in here to 43 Whatever I said it 43 74 a quarter area So I think this probably still gonna roll over and head down towards there at a minimum if this is a bonafide bearish correction If not, we blow these highs out and we keep taking them out Then I'd definitely be wary of this exhaustion up here at 45 28 to 45 33 a half Any questions on that before I go? No, that's great One other couple. Yeah, I also sit in the last Then we'd left that medium turn bullish reversal below here only ride for these three days And then when we left the gap lower here that left a minor bearish reversal above here that also violated this So those were also bearish Situations that added fuel to the downside All right, so gold Yeah, finish the gold please because then we got a Break coming up. So well, so here comes the break anyway. Stay with us. I want to cover the gold when you come back, okay? Okay, sounds good. 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Sure Okay, just real quick as a backup We've been talking about this for a number of weeks now that the main story in the gold here was that the solid trade below 2062 90 we wanted a solid pressure for days slash weeks You've seen 162.3 of that so far that was put on hold because we broke back above this steep line right here I'd break above 1920 90 minus two ticks per hour wanted renewed strength We'd seen 20.2 of that strength right in here before rolling over and then held it right here on the load today So we're in this consolidation phase. Let me come back up out of here and show it to you a little bit cleaner We have a question too when you finish with that I have a question for one of our listeners sure Question is finish that please and then I'll then I'll ask the question Go ahead. What's that the question is what do you mean by ticks per hour? That's what he's referring to So a tick per a tick is the smallest increment that a commodity moves In whatever that commodity is so one tick and crude oil would be A set right because that moves in dollars and cents ten dollars. Yeah, right or ten dollars I'm sorry a ten dollar movement, but that's the smallest increment it would move in and The same thing with you know The S&P's moving SB MIDI's moving a quarter of a point. So that would be a tick in there. So tick is a generic term but a It's an official term on the CMA of the minimum movement of whatever that commodity may be Does that make sense? Okay makes sense. I should say Let me rephrase that that is the the minimal Capable move of the commodity So I've seen natural gas where when it was trading thirteen dollars Ticking fifty to hundred tick increments, but the minimal it can take is a fraction of that It might move it's got a close-up here because it shows coming to an end. We'll have you on again soon. Okay. Thank you, sir Appreciate it. Thank you. Mike more more analytics folks. We'll be back tomorrow live every day in an attitude of gratitude and may God bless