 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. We're going to start the show today with the weekly chart of Apple that basically shows the 382 retracement that we had back on them just a few days ago. Well, it was actually seven days ago. On the 20th of May, we exploded to the upside. Apple actually has moved more than 10% off the bottom. This is important folks, as we've talked to you many times over these past few weeks, especially since May 20th, when we had all of these APCD patterns that we've seen unfold. I mean, it's just a repetition, but you know, they say repetition is the mother of knowledge. We saw them in just about everything, the banking stocks, Apple, Google, Amazon, Tesla. I mean, and just one, JP Morgan, just one after another, Goldman Sachs, all of them made major APCDs there folks. That signifies a major, major cycle. We exploded 10% off the bottom folks, a 10% move in the Dow Jones Industrial Average folks. Are you kidding me? That's a big move. You know, if you do 10% in a week, you're going to do 500% in a year. You know, that's going to be almost like the crypto currency boys. Hold on, oh, don't tell me, don't give me this stuff without a memory. Oh, no, no, no, no, no. Oh, God help me now. You know what? It sucks. All right, let's get back to some of these things here. I'm going to give you my best two cents of what I think is happening folks. That's really what I can do here. Let's get this one up here to take a look at it. This is the Dow Jones E-mini. The S&P looks pretty much the same. Get this up here so we'll be able to see it here. There it is. This is starting on Sunday night. Remember, we were up strong on Sunday night. We were up about 300 Dow points. Now that was a pretty big move. And as you can see, what our program was was to look for three, eight, two retracements if that was going to be a significant high. And as you can see, we had two of them since Sunday. So in the last couple of days in the overnight markets we've had two of them. You can see them there. The same things in the S&P, they were doing the same thing. And of course we had the nice move down. My personal opinion is the low that we made on the 20th of May is going to be, that is going to be the key thing to look at for the year. In 19, in 2007, when I first started doing these radio shows, it was August the 15th and we made a major bottom. And the market went from August 15th up into October 4th, five weeks. And from October into October of that year that started the big move down which was the move down into the May, March of 2009. So I would like for you to just circle that day of May 20th because if we go below there, that's going to be the equivalent of us breaking the August 15th stock. That was just a major cycle bottom folks. That's what it happens to be. So if it breaks that, that tells you that there's trouble in River City. And this market was so oversold coming into this low year on the 20th, but with all of those ABCD patterns that were there, I said, oh my goodness, I hadn't seen this and this many of them and so many. What does it mean that I'm out of memory? Get out of here. I can't be out of memory. It's a brand new computer for guys' sake. All right, let's get back. I want to give you some information here from our good friend, J.C. Parrots of All-Star Charts. Let's get this up here to take a look at it. This is the picture of Bitcoin. And I wanted you to point out here, this was the first time since Bitcoin has been trading that it had been down nine weeks in a row. Since 2012, when we first started getting, the players were in there for the past 10 years, but we were down nine weeks in a row and now you can see what's happened. We went from 28,000 to 32,000 in three trading days. That's another huge move. All it's doing is correcting a very, very oversold condition. That's all that's doing. But when you see those numbers, you have to sort of respect them because we live in the times of, what's happening, folks? Every time I touch my computer, it says out of memory and that can't happen because it's a brand new computer and I don't know. So I don't know. I guess I get ready to toss it into the old mailbox. We're gonna take a look here now at the FTSE folks in the land of Boris Johnson. As you can see here, we have this big ABCD double triple top. This is a weekly, as you can see here, we've been up here for quite a while. It didn't back off very much. You can see the little pullback that we had, but it didn't do very much and hasn't gone very much to the upside either. So now let's take a look at the German DAX. I'm gonna have to reboot this puppy. I'm afraid that this is not good. What I'm seeing here, boy, oh, boy. All right, here's the German DAX. We'll get up here. We've got some pretty colors on this one right here. Hold on a second. By the way, folks, if you have any questions, 877-927-6648. Now you're gonna take a look at the German DAX and as you can see here, we are definitely making a garly top in here. You can see the green color triangles are a three drive to a bottom pattern. You know, multiple ABCDs. You can see the yellow one, which is a butterfly top coming in at the 78% level. So that's the time that we're looking at it. Now, something very, very significant happened here Sunday night, folks, that not many people are paying too much attention to. And here we are paying attention to it. Let me show it to you right here. You've probably heard it already today, but by the time this was happening, you know, this was really a pretty, this is an amazing market. This is a bond market, folks. That's our second largest market afternoats. But look at this, folks, we gap down a full point in bonds. Go find a one point drop in bonds on a gap. That was Sunday night, but there was a big drop and of course they've continued to go down. They've broken below 139 already into the 138 level. So this tells us that ABCD pattern at that 382 coming off the high of back in early March, excuse me, late March on the 28th of March, which was the eclipse, that tells us that that is a major point. And we're probably looking at a lot more to the downside, you know, in the market for Treasury bonds, but that's what we're watching here today. Now, let me get another one up here. I put the Apple chart up that we wanted to see. And, oh, I wanted to show you one that we've really had on our watch list here and it's turned out to be a really good one. This is the chart of the, I'll bring some more charts up on this one because I've got them on file. And, well, I just don't understand what it means out of memory, because I think when we come up to the break, I'm going to, okay, I'm going to reboot. You'll notice here that we have, this is a 15 minute chart here. And basically I wanted to show you the fact that we went right up to this level right here at 1945. That was the number. Now, folks, this, I've been watching this all night because I've been short all night. And it's broken, believe it or not, it's broken a dollar a barrel three times. And now it's broken a dollar and a half a barrel. So there's been a $4,500 swing in crude all day, even though it's up considerably. The reason why we're going to take a break here. 877-927-6648, we'll be right back. In a time of booming inflation, where you're purchasing powers eroded, there's no better place to protect your hard earned money than ain't gold. VISTA Gold's flagship asset is the Monk Todd Gold Project in the Northern Territory of Australia. 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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 for 30 days risk-free today. tfnn, educating investors. Call now, toll-free at 1-877-927-6648. Internationally at 727-873-7618. Hey folks, I put up the chart of the, hold on one second, I wanna get this other one up here so we'd be able to see it real quickly. This is the, ah, are you kidding me? Hold on one second here, I wanna bring up the chart here of the crude oil folks, give me a, when I came back, my mouse needed a battery along with the memory thing has been fixed, evidently, that was just a non-starter. So here's the chart that we're looking at here today, coming, this was what I thought would be the trade of the day. You'll notice here we had a bunch of numbers, there's your 61% retracement there. All of these numbers measured between 1-1945 and 1-2050. So we picked 1-1945 as a place to go short. Not only that folks, but it dropped $1,000 three times overnight. And then went back and went above it on hitting some stops and then just literally gave up the ghost really quick. So that's starting to move in the right direction. Also, those of you that belong to the 24-7 have asked several questions about the gold. We still think we're looking for the gold market to come down a little bit more. We'll take a look at the one that we had here. This was going back to Fridays because we watched these so closely. Now this happens to be the June gold. We're now trading August. And you'll see that we made a 3-8 true retracement up here, our short was put in up here and there's a retracement right here. We're looking to this to get down. If it makes the ABCD like we expect, it should get to about 19, let's try it again Larry, 1825. But you've got to add $10 to that. So 1835 in the August is what you'd be looking for for a potential to buy it. That's one of the things that we're watching very, very closely today. But we had several others that looked really interesting. Today, we'll get this up here. Let's get back to the stock market. I'll give you my two cents of what I think is happening here. Now remember, we have incredible swings now. This is not going to stop folks. We've had, we're down a hundred handles from where we're a little more than a hundred handles from where we were Sunday night. There's where we were Sunday night. We made the 3-8 true retracement of the whole move from January folks. We made that in seven days. You got to respect that. I mean, get out of here. I mean, that's a monster move. So what we're watching now is to see if we can find a pattern somewhere between now and the next three or four days where you might get a pullback and then you're gonna probably get one more run to the upside. Because when you get charts, like we've seen in all of those things that I mentioned plus a whole bunch that I didn't, with the ABCD patterns everywhere. But folks, hey, look, let's be realistic. You know, I live and die by ABCD. Unfortunately, I do more living than anything else. But anyway, those ABCDs don't let you down very much. And when they do, you shake it off, get up, dust yourself off and wait for the next one. There's always gonna be a new bus coming down the road. But we made that 3-8 true retracement on Sunday night with the news that China had allowed bond sales or something like that and that their PMI was better or worse. I don't know what it was, but it was very, very bullish. Hong Kong opened up sharply and the Nikkei opened up sharply and China opened up sharply and that just kept pulling us up because we were still moving strong from Friday. But that's where we went. We went right up to the 3-8 true retracement. Now, we almost made the 50% in the Dow Jones, but that didn't do that. The NASDAQ didn't do very much at all. But we did have that, if you recall, those of you that belong to the letter and I think we talked about this on Friday, let's get this one up here so we can take a look at it because the Russell had made a beautiful Gartley sell signal here. Let's get this up here. And that was a perfect ABCD. And of course, it sold off quite a bit today. And we'll take a look at this right here. There we go. You can see the ABCD that we made. And look out, you're so far away from the 3-8 too on this, it's not even mean anything. Folks, I've been doing this a long time. I study these charts probably as much as anybody on this planet. I'm almost 100% sure of that. But when we go below these lows, we may on May 20th, it's time to rethink what you're gonna be doing with your money for a while because they're gonna take this thing to the cleaners. They really are. They're gonna hit it really badly whenever that happens. It might be today, tomorrow, three weeks, four weeks. I'm hoping it's three or four weeks because that would give us a beautiful cell pattern, maybe a little bit higher. Some really nice things that we like to see like garly patterns or one, three, five pattern. But that's it. But if you're doing short term, like I am with the 15 minute, and I showed you what we were looking at with the Dow Jones from Sunday night, those are beautiful 3-8 too retracements, folks. They were right on the money. And the other one, the big news about the giant shortage in wheat. Come on, folks, wheat's down 50 cents. Are you kidding me? I mean, something's not right. What the news is telling you and what the market's telling you are two different things. So trade what you see, not what you think because it doesn't look too bullish in the wheat market. Maybe this will change by the end of the day, but that's not what we think is going to happen. Now, here was another one that we'd set up. This was a really nice one. It's been working pretty good. This happens to be the Euro. The Euro is really going to be really neat to see this, but you'll notice here that 3-8-2 was right there, folks. We hit that exact number last night. Well, actually, let's see, Sunday Monday. It'd be Monday, yeah, Monday. We hit it there Monday exactly to the tick at the exact 3-8-2, and it's broken 100 pips so far. So that one's hanging in there relatively well too. So those are just a couple that we're paying attention to. 877-927-6648, if you have any questions, I'll be happy to answer them for you. Otherwise, we'll continue to look at some of these other ABCD patterns that we've been watching. And here was one that we thought was going to be very powerful. I haven't updated it as of yet. It goes in the same theme of the crude oil market because we were thinking these were making some type of a topping pattern and that you can see you have the left shoulder, the head, and the right shoulder, they're actually equal. So we're expecting the market to be up a little bit, which we were. I haven't updated it this morning because I do crude oil, I don't do heating oil. And so that's what we were watching here for to see this a little bit higher. Coming in Sunday night or Monday or Tuesday, I really haven't checked it. What I will do when the break comes, oh dear, I will check it. And we will get that moving here. Forgot to get my water for the desk here today. So I'll get that when we come up with the next break. So if you do have any questions, Al said, don't even bother right now. He said it's just, he said the lights on the boards are lit up like you can't believe. He says it's Christmas day there in St. Petersburg, Florida today. Oh, Al said one line just opened up. And oh, no, he said somebody picked it up but the line was busy. So we'll try it again. Okay, now let's take a look here. I wanted to show you the NASDAQ because this is another one of these. All of these ABCD folks, I mean, this means something. When all of these things do the same thing, that's telling you something big time. And that's what we're looking at here. We'll be right back. 877-927-6648. 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, HUI, 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. TfNN has just launched their new trading room, the Tiger's Den, hosted at Discord. TfNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours. And now they are expanding their reach with the Tiger's Den, available to all tigers and tigerses for just $1 for the year. There's no catch or added costs when you join our community of traders. In the Tiger's Den, you can look over the shoulders of Tom O'Brien and the other TfNN hosts. While they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas, interact with other tigers and tigerses as they share trading ideas, news analysis, and discuss the market action all trading day, even at night and on the weekends. The Tiger's Den at Discord is accessible on mobile or tablets as well. So it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of TfNN.com. Tom O'Brien has just announced a live Timing the Trade webinar Friday, June 10th from 9 a.m. until 2 p.m. Eastern time. Join Tom O'Brien for five hours of live education as he teaches you his trading methodology right from his best-selling book, The Art of Timing the Trade, Your Ultimate Trading Mastery System. In this live webinar, Tom O'Brien will be teaching you his entire trading system, including quality volume, ABC structures, Fibonacci Confluence Zones, cause and effect, swing points, and more. We will be limiting this class to 40 attendees, so please do not delay and reserve your seat today for this special live event with Tom O'Brien. All attendees will also receive a physical copy of his book, The Art of Timing the Trade, an $88 value, mail to you, along with the free month of his daily newsletter, Market Insights, a $169 value. For all the details and to reserve your seat today, visit the front page of TfNN.com. TfNN, Educating Investors. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of tfnn.com. Okay, folks, I get the picture of Tom's book here. I keep it on my desk here, Timing the Trade, and I think you'll enjoy his one-day seminar that he's gonna be giving when you get a master like him up there. I don't know why the book doesn't show very well. I don't know, well, you know why? It's because I'm using the background from the thing, I don't, from the service. So I don't know, I do one thing after another, okay. All right, let's talk here just a little bit about the U.S. Dollar Index. I posted that up. Yeah, I know it's the virtual background that screwed up, but I do keep that on my desk. It's one of the few books. Well, I got about 12 books up here. The Experts Speak Technical Analysis of Markets by Murphy, Private Thoughts of a Trader by Me, Geometry of Markets, Super Traders Almanac, Profits in the Stock Market by Hearst. Oh my goodness, I got a whole bunch of them in here. That I do, Artificial Intelligence. Wow, there's about, well, I got those, those are all leather-bound. And then I also have the book by Andrew Lowe is also up here, The Evolution of Technical Analysis in Stock Market, and also Chaotic Markets, or Don Random Walkdown Wall Street. And then I have, of course, the Bible is the Burton Malkiel's book on fractals. Anyway, that's what we're paying attention to here this morning. So let's, I hope, I hope I can see it. Can you, well, we'll just move on to the next one here. I just wanted to show you that this is the Dollar Index because we were looking at the, remember the Dollar Index is the reverse of the Euro when the dollar goes up, the Euro goes down. And as you can see here, the 382 retracement here, we were expecting it to hit, it hit on Sunday night, actually hit it twice, Sunday and Monday, right at the 382, didn't go any below it. And then, of course, it's had a very strong rally over the past several hours. We've broken up more than 100 points in the Euro. So that's holding up relatively well also. But we're going to see some great, great volatility in here, folks. I don't think there's any question about it. So that's neither. I had a question about silver. I'm very bullish long-term silver and gold, folks. And I, you know, you cannot be bullish, not be bullish these, and the reason why is we've got inflation is going to be here to stay. You know, if we're going to have green energy instead of fossil fuels, believe me, somebody's going to have to be paying the bill for this. What the question is, are we going to be able to break another dollar to get down to this level? This would be, if we could get this to silver and gold to get down about a buck, about a buck lower in silver and about $100 in gold down around 17, 17, 17, 50, something like that in the August gold. Boy, I thought that. I thought that would be such a beautiful ABCD pattern that we have to really, you know, really take advantage of that. So those are just a few things that I'm watching. Regarding the notes and bonds, folks, I mean, give me a break. These things are so bearish. Take a look here at the Treasury bond market. I've already showed you the big gap down that it had, but here's where we were Sunday before the market's open. You can see we were trading up in here. We gapped way down here. We've been down more than two full points in bonds. And do you realize how hard it is to get bonds down two points? That takes a lot of selling. So, you know, we're not out of the woods, but there's going to be incredible volatility here that we've already seen. So let's, you know, follow what trade what you see, not what you think. And I love David White's motto is sell when you want to and not when you have to. And that's a major thing to be looking at. But we do have higher interest rates are coming, how they affect the market for other things like real estate and stuff. I don't know. I had a guy show up here Sunday because we have a beautiful American flag over the house here and he commented about the flag. And he said, I'd like to buy your house. I said, it's not for sale. And he said, I'll pay, you know, X number of dollars, which was more than I thought. So I said, nope, still not for sale. Anyway, it's crazy what's going on in these different parts of the world for sure. Hong Kong is still the most expensive city in the world. A little one car garage, I mean a garage, nothing else. Like if you have a really nice car and you want to put your car in a garage, it's $50,000 to buy that garage. And that's a pretty steep. And if you want to rent it, I think it's $1,500 a month if you want to rent it just to park your car. Hello operator, give me a break. That's a pretty steep thing to hit. But okay, let's move on here to cover a few other things that I've already covered. Oh, I wanted to do this one on the footsie because this is a four hour chart. And those of you that like ABCDs and this is already starting to work as you can imagine, you'll be able to see it right here. There's a beautiful ABCD just perfectly measured. Look at them on the way down folks. ABCD, ABCD, made a lot of friends over in the UK this time because they started to see ABCD patterns and they say, well, when will it stop? Well, I can tell you this folks, I started looking at these a long time ago and by golly, they don't ever stop. And you can go back in history and look and they don't ever stop. This is what Mandelbrot taught folks. Mandelbrot said it's a lightning bolt. That's your seed pattern. The seed pattern is a lightning bolt or the ABCD pattern. If you want to call it like Gartley called it. But anyway, you can call it a 135 like the Elliott people call it, whatever you want to call it. It's there everywhere on all different time frames. All you've got to do is to figure out which one you want to trade and what your risk is going to be. Now I'm going to post something in the room at the next break that our good friend, Mr. Z from Switzerland, no, not Switzerland, Philadelphia sent us about Paul Tudor Jones. I was fortunate enough to meet him when he was just a young whippersnapper getting started down there in Memphis, Tennessee. My best friend as many of you know was Jay Cross who worked at commodity corporation those years. And he was a good old Memphis boy who went to University of Mississippi and it was roomed with Trent Lott of the speaker of the house and he went on to USC to get a master's degree in computer science in 1964 and went to work in commodity corporation in 1965 and was there with them until 1972 when he went out on his own to be trading. But that's some of the things that we have talked about in the past I don't want to bring it up again but these markets they don't change folks. I've looked at any historical stuff I have looked at. I'm looking at bubbles and stuff like that and hey I'm wrong a lot, gee whiz. I mean you stop and think how many times I've been wrong you won't have enough time to talk about anything else on the show. But there's times when you get things right and that's what you're looking for is to stick the things that you get through right. Now the reason why I'm gonna be posting this thing for Mr. Z it's about Paul Tudor Jones and it's all about risk. My favorite Paul Tudor Jones story and anyway he was interviewed by the Wall Street Journal in 1987 right after the crash and the thing was they were talking to him he said how does it feel to be Paul Tudor Jones that picked the absolute bottom in the bond market before it rallied 20 points and Paul Tudor Jones said to the reporter he said well he said that's only partly right. It should read how accurate it must be to be Paul Tudor Jones to be able to pick the exact bottom in the treasury bond market before they rallied 20 points after being wrong the previous six times and it was a true story. He tried it six times before he finally got it right but his losses were so small when the profits came they just multiplied and multiplied and multiplied. There's gonna be a link coming in here. I hope I have it. I had it a little while ago but you know me. Hey we're gonna take a break. Eight seven seven nine two seven six six four eight. Are you in the market for buying or selling real estate in the Bay Area including the surrounding St. Petersburg Tampa and Clearwater markets Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area. Whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property Tiger Realty has the experience across all areas of real estate in the Tampa Bay Area to help buyers and sellers make the most informed decisions across all price levels. 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Dave delivers his weekly newsletters every Friday with updates throughout the week. You can get the Technology Insider at TFNN.com for only $37.50. Sign up for Dave's newsletter, the Technology Insider, and get an inside look at everything the technology sector has to offer. Try it risk-free today with our 30-day money-back guarantee. TFNN, educating investors. Are China A shares hot or not? If you trade China A shares now may be time to take a closer look. Trade C-H-A-U or C-H-A-D. Directions daily, CSI 300, China A share, bull and bear ETFs. China A shares in either direction. Visit directioninvestments.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 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, foresight fund services, LLC. This program is brought to you by Vista Gold. Traded on the NYSE American and TSX under the symbol VGZ. I've got the computer fixed now, Billy. Thank you for asking, though I appreciate it. Folks, we got a sell-off going here in the grain markets and we've been waiting for this sell-off and I think we want to be ready to be a buyer here pretty soon. It'll probably be this week would be my guess. Let's get this one up here. I want to bring it to your attention right now. This is the one, this is Christmas corn. This is December corn. It is, I haven't issued a buy or anything. I'm just getting ready for it. I've reason why I mentioned it while we were off the break. My alert went off in for July corn but I want to be buying the December corn. You notice we've been in this really tight trading range here now for several weeks and so we need to clean out all these guys that bought it there, scared that the Burjeebies out of them and then we want to be looked to be a buyer. This is one of the strongest seasonals, folks, that you can get for soybeans and corn to be making a low here around this time March 31st. I've told this story before, 1983, I had an order in and there was a report that day and by golly the market went through my order by three and a half cents and I didn't get filled. I thought I was automatically filled but remember back in those days they had these trading cards that I've shown you many times before and you had to turn those in. Well now everything is electronic. I mean it goes through, it's automatic but you know, we didn't have that back in the old days. So by the time I figured out that I didn't have a position, it was already limit up and so I had to chase it. Which good that I chased it because it made quite a few bucks but by golly that's neither here nor there. You don't like to see that but we're seeing it in a lot of different things and one of the ones that's in the news all the time is the wheat market because of the supposedly they have all this wheat that is staying there and I forget what they call the place Odessa and let's get this up here because we're breaking down now really good and this is what we wanna see. We wanna see get prices lower and we're right over a lunar cycle here too with the new moon I believe is coming in right now and you'll notice that we wanna get it down just a little bit lower down by that 0.5 there and we're down 50 cents today folks. I mean we were trading at 11.57 I think we had 11.01 a little while ago. So I don't know exactly where that low was but it was quite a bit lower than where it is right now but that's neither here to this see where we are trading here. Yeah we're at 10.95 believe it or not shut the front door and raise her in. My goodness that's a beauty and look at the old crude old making new lows that's good. Okay now let's get on to the next one here that I wanna talk about also is the soybeans because this is the one this is November soybeans. It's been acting the most bullish. This is new crop soybeans now. You can see they were still strong on Friday. They're giving up a little bit of the ghost today we were thinking we could possibly get up here for another but we're starting to back off this will probably be a double top but we gotta watch for a bottom here the next few days. That's the that to me that's gonna be very important. I'll be doing a special videos for our 24 seven folks over the weekend or next next day or two to get ready for it. So we'll be watching that very closely. Someone asked what positions do we have on right now? We are short the S&P or the Dow whichever you wanted to do at the 382 numbers that we talked about earlier. We wanted the short to Euro which was right on the 382 that's working shorting crude oil at 1945 and that's working and the bonds being short that's working and the gold being short 1865 in the gold but that was in the June gold and we're rolling that over into August. So those are the ones that we're watching here today but with our Ion buys here we wanna see this stuff they're really hitting the wheat really hard and when you stop and think it was trading at $13 just a few just about six or seven days ago the end of the world was coming and wow they found the end of the world at the end of town so it didn't happen the way you think it that's why you trade what you see not what you think that's the main thing that you wanna be doing that's very, very important. Now the reason why I'm bringing all this up is because of the limit binder that just went off I wanna get this up here show you this is my July corn now July corn is the corn that's been you know it's in the bin they're waiting to resell that the other stuff is being it's in the field now growing so what we've done now is we've taken out this low right here you see we had this little tiny rally yep you wanna guess what it was you betcha three, eight, two of that high right there and now we've kicked that out so it means we're gonna be getting down into this level about another 25 or 30 cents so that's what we're doing these patterns are good for predicting what the market should do and when it doesn't get the heck out of the way you don't need to it's not worth it so I hope these are things that you can use in your trading but I think these grains are gonna be in a buying zone here pretty soon and I think it'll be pretty exciting and okay let's move on here to another one that I wanted to talk about I talked about the heating oil here we go is the copper copper has held up incredibly well given all this stuff folks I know it's down a bit today but you'll see here this is what we've had here in copper we had the three, eight, two retracement that came in right here and then we had a nice little ABCD up here I thought we were gonna get up to this level but the trading gods didn't oblige and so we're starting to move lower this was indeed a 135 pattern we talked about that on this show before that is a 135 pattern but once we get below that oh then you're looking at a larger ABCD that's gonna take us down a whole lot or lower is the number that I'm trying to think of all right the other one that's interesting folks is the price of cattle I don't know about you folks but the price of beef here in Tucson has really taken a turn to the downside I bought two prime rib eyes my buddy Nicky who lives here in town he's a professional gambler and I had him over for dinner on Sunday and we had a couple of prime steaks and I couldn't believe I went to the butcher and I was expecting to pay about 25 bucks a piece and he said I'll give you two for 25 and I said why he says I can't sell what I got and I says what do you mean? He said people won't pay the prices and so well and end up getting a great steak for 12 bucks you go to that restaurant that's gonna cost you 65 or 70 of course they're gonna prepare it for you so that's neither here nor there okay all right let's move on here someone ask another question about sugar all right let's get this up here this sugar has been in a pretty good market here been in a big trading range here in sugar for a very very long time and we're at a pretty high level we should hold these levels that we're at right now because that was a 382 retracement anything below that low right here would really tell us that uh-oh this thing is probably getting ready you know to go south instead of north now that is not a head and shoulders pattern here folks you see this pattern left shoulder, head, right shoulder two things a the right shoulder you see this right shoulder higher than the left shoulder that automatically negates a head and shoulders pattern using the formula in Andrew Lowe's book the non-random walk down wall street they has to be lower than the right sure equal or lower than the left shoulder and the distance between the head and the shoulder should be relatively equal this fits the quality part but it's not a head and shoulders pattern you have to call it ah we'll call it the one bat three anyway let's take a break eight seven seven nine two seven six six four eight sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at TFNN you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV live every market day from 8 30 a.m. to 4 p.m. Eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the 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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 Everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the Fibonacci 24-7 newsletter at TFNN.com When you subscribe you'll get a weekly report from veteran day trader Larry Pesavento on stocks you need to pay attention to and you can trust Larry's analysis after all he's got 45 years experience as a day trader Larry will also provide daily charts, videos and data on the key markets that he's tracking expect notifications from Larry on market movement you need to act on at any time first time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the Fibonacci 24-7 newsletter today TFNN.com Educating Investors Okay folks I've been asked to talk about this pattern that we were looking at comparing 1987 to this year basically there was the high October of 87 17 days later you came down into that this was the aspect we were looking at that came in on May the 5th you had 17 days of that it took you to the 22nd the market bottomed that Friday on the 20th of course and then we've had this really strong rally there was no crash but the market did go down considerably making an ABCD pattern now the question the person asked when will I see another sequence of events well I'm always searching for these folks that's why I have folks like Shane Smollin Tim Boss and Norm Winsky on the collar here to give us some ideas and when these dates come up so I'm watching when these come up and then I try to search for memory banks say well was the last time this happened well with Alfie LaVoy software you can test these things and that's what Shane Smollin does so well he does back testing on these to see which ones you know give an idea of whether these things are going to work or not but again you get down to these patterns you're there for one reason only and that's for risk control try to listen to that thing that I sent you the on Paul Tudor Jones folks it's all about risk he's got a you can see them says losers average losses and boy you can't do that remember his main thing is is try not to lose just like Warren Buffett two major rules don't lose money there's rule number one rule number two is don't break rule number one well you've got to trade so you've got to control your risk which is the only thing you can control you don't know what's going to happen next even when you think you do and you know that's when you're the most dangerous is when you think about something that may or may not be true yet you believe it you know and so you got to be able to change courses in the middle of the stream if that's if that's the case so let's remind ourselves now tomorrow I'll be back and no guest this week I might have one popping up but I haven't heard back from him yet so we'll give you some other information about the foreign exchange markets and hopefully I'll get some of these things done about the grain markets by the end of this week and maybe we can have some ideas live every day in an attitude of gratitude and may God bless