 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. Hi everyone, this is Larry Pezzavento. It's Basel Chap and I do the Tiger Technicians Hour, 10-11am Eastern time each day, each market day. And my service is the opening call daily newsletter. And I have a technique called Chapman Wave. It's actually the umbrella for a number of different techniques. Let me just show you the core and then we can go straight to the charts because it all pertain to the charts. In the Chapman Wave we try to identify the lowest low bar count each successively higher peak. One penny above the previous high after a pullback starts a new leg up. It's a floating letter. It remains that letter until called a leg to the upside until it makes a peak. And then once it turns down, that's called a peak and it can go. The object is to see the price go from the start to a buy signal and then a buy mode. And soon as buy mode is mentioned and up arrow is put in there, it means it should go to at least four higher peaks. It can go higher than that but they target the objective in the Chapman Wave is to get you to four higher peaks. Then analysis has to be done. It's an instant restart for another four higher peaks which basically you just alphabetize A, B, C, D, E, F, G. There's never an H. D is the most important one and then you see whether it can go higher and you assess at that particular point. I look at three core patterns straight up, straight down, cup formation, arch formation in a mix of one and two or one and three. If it's this and it turns out that this arch formation looks like a lowercase H, goes to peak A or B and then fails and takes out that left side low B. Careful it can go a lot lower. On the upside if it makes this trough and curve, this cup formation in a reverse Y takes out the left side high and it can go much higher. Simple. Okay. On paper everything's simple. In reality it's often a little difficult. You've got human nature that gets in the way and Larry was going to have Paula come on today. She does that in a whole emotional part very well. I just, because of the speed in which I decided that I wanted to have the hour, I decided I don't think he can interview her on another day if she doesn't mind. What we've got is the dowels are up 109 to 35,231. So now have a look. All of this is anathema to Larry. I use moving averages. I use the MACD. I use the stochastic. I use the slow stochastic actually. I use unbalanced volume. Look how beautiful this unbalanced volume. We had a move right here. In my assessment this was the only indicator that I used as overbought or oversold is the unbalanced volume. This is the blue line right here. This is Joe Granville's technique that he used to use very successfully years and years ago. Look at that ectus right there. Turn around right there in leg E going to a leg F at 35,679. Look at this. Look at on the exact boss. People say, oh, moving averages, et cetera. They are laggy indicators. It depends on how you use these things. That's all I can say. So in this particular instance, for subscribers to open your call, I'm mentioning this only because I know Larry likes to talk about what he has, what has worked, what hasn't worked. Very comfortable doing that because he's had so many successes before. I don't feel any embarrassment at all. I do get upset if I miss something. But we did go short. We've been long. All the way you can see it says long right here, March of 2020 at 18,213. We got that low right on that day. We got the low at 28,660, not the exact price, but a little bit higher. Core position in the Dow. That was in October of 2020. Oh, last year, 2022. So within that we have trading positions either three times short or three times long. The Dow or whatever I'm looking at that I think is appropriate. So we decided that right here that we would go short. But I said we're only going to go very conservatively. We'll go short. We're not going to get too aggressive with that short because why? Because this nine period moving average was still so strong. Look, right there. This that's the day, the first of August. Look, it's still white. And that said to me everything about what I'm looking at in the other indices says that the Dow, Dow 30, I know people joke and they always say, oh, the Dow 30, it's a, you know, it's not equal weight. It's only 30 stocks. Believe me, the Dow is still the key. And the Dow has just the perfect bet right now. It has just every homeboulders it has. I mean, it has everything has Home Depot. It has the banks. It has Microsoft. It's just every Apple that has everything, right? So I like the Dow. I've made a daily call in the Dow for 30 more years. Every single market day. However, I do the same with the S&P and the others, but the Dow is what I mostly feature in terms of my newsletter. Okay, so that says there's a very slow look. Even the black 14 period moving average, only now it's just fractally moving down. The nine is starting to turn down. When these both go in the same direction, there's a greater chance that you're going to, but look, even here on this horrible turn down, remember when the Dow snucked on the 26th of June, all the indicators were down. This held the nine period moving average and it just kept going. I called it the indicator of last resort. Why? Because like the Fed is the bank of last resort. So for me, a lot of the time, when this finally turns, that's when I take notice and say, okay, now we've increased whatever it is, we've got a sell signal, that'll turn it into a sell mode. And all it is, is a designation. It's not saying, oh my God, sell mode, you're going down a thousand points in 2000. It just says that's the designation as it is right that moment. It could flip and turn around again, but now we, let's have a look at this. Isn't this interesting? Look, using the same indicator, S, B, X, X, that's the S and P, flipped to negative a couple of days ago. It's up nine. It was up way, way up at the 45, 27 level. It's now at 44, 76. Look at the QQQ. Three, three sessions, four sessions down pink. And the last time it was pink, it was just for a day back in May, May, no, April the 26th and seventh. And then went back to green. If you held it all the way from the 16th of March at 297 and you waited a day before you made any change, you would still be in this green until now. I mean, this is one indicator. That's duration. That keeps you in for a long time. Now, within this context, look at the IWM. It, like the Dow, it was green over the black and changes to pink when it goes below. And it held, held, held, and today it flipped to pink. The day's young. Anything can happen. The IWM is down 71 cents at 190.86. Ha, wait a minute. Look at this. The RTY did it today before. Look, this is the second day for the futures in the Russell 2000. So I just wanted to show you that. Now we can get on with the whole show. This is very important to me. The fact that you've got this, you've got, you're constantly having, in this particular mode, when you've started the right side of the turn, of the arch formation, it says that there's a good chance that rallies are going to fail and you'll start to make lower lows and perhaps lower highs and low lows. In this case, we made a slightly higher one. I'll be back in a minute. The Russell chapter is sitting in for Larry Fezzavento. It is trade what you see day, but I'm sitting in for him. Tigers, candlestick pattern analysis is a primary tool among successful traders and you should be no different. 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Stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to your inbox. Whether you're a seasoned trader or just starting out, Market Insights provides the edge you need to navigate the markets with confidence. Ready to join the ranks of successful traders? Head over to TFNN.com and subscribe to Market Insights today. Don't miss out on this opportunity to supercharge your trading results. Market Insights comes with a 30-day money-back guarantee for all new subscribers, so you have nothing to risk. Don't miss out on this opportunity to revolutionize your trading game. Head over to TFNN.com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter Market Insights firsthand. TFNN. Educating investors. Call now. Toll free at 1-877-927-6648. Internationally at 727-873-7618. Back, Basel Chapman, sitting here for Larry Perzevento. Now, let me just show you a couple of things using the same technique. Let's go to the continuous contract of wheat. This is the continuous contract of wheat, trading at 6.36 and 3 quarters, up a dollar and 3 quarters. So the patterns we were looking at, there's a pattern that I also call the Eiffel Tower. This is not quite that. It's more like a pyramid where it just goes straight up and then straight down. So this is wheat. And if you look at the daily chart, you'll see that the letters, they've kind of slipped because of continuous contracts. So whenever the price gets changed, that is, whenever they do the, to get the right ratio of a continuous contract, they have to join other contracts, etc. It gets smoothed out. The price changes. My letters are all hand-notated. They can be automated, but there are just enough subtleties for me to be working on those separate. You can see how I can define them so that it can be computerized or serialized. But most importantly, nothing changes other than the letters themselves kind of slip a little bit. So as your peak D, the fourth highest peak, that's your objective. We got to that D right there back in February. Pool's back makes that arch formation. Comes back, makes a lowercase h. That's the dreaded h. We were talking about the dreaded one, which goes to a lowercase m. And it pulls back. It goes even lower. Then it starts as kind of a U-shaped pattern. It's cup formation and goes up. And I like to do time sequences. I don't have them here. Let me get rid of even the Fibonacci numbers have been slipping because it gets smoothed out. Okay. So what this did is from the low in a week, going back to the May the, there's a daily chart. May the 31st, 2023, at 547 remember the prices. It depends on when we look at them, but that's a current price goes to peak AP. I'm just counting each accessory. That's the ease of this technique. Once you're able to identify a low, you can just keep going A, B, C, D until you get a turnaround. It's at D that other things can happen. I'm not going to spend time right now to marry my technical Friday's technical analysis for the Chapman way methodology. I might do a little bit more. And also, if you're interested, just give me a yell at basilchapman at tfnn.com. Now, look at this. There's the art formation. There's another art formation. This one hasn't really taken out the low. You can give it a little bit of time. So I like to put in moving averages that are just there. You don't have to use them when you don't want to, but when they're important, they are so important that they become magnets. So you attract the price and then they repel the price. So I'm looking at this orange line right here. The dating chart went right to the 200-period moving average and then plunged lower at a peak E. Turns around and makes the cup formation. And this is what I was saying. You see the reason why I put these in. Look, when the stochastic barely goes positive above 80%, and all the textbooks will tell you, stochastic over 80% is overboard. Stochastic under 20% is oversold. I say, absolutely, that's just wrong, wrong, wrong. Over 80% is great. That's what you want to see. Under 20% is negative. That's what you, if you're short, that's where you want to see it holding there. And the cup formation is formidable. I just drew this in moments ago during the break. Look, there it is. There's the art formation. First arch, he has the second arch. I drew this in. I was going to do a left side, right side, price, time. I didn't have time because the break was up, but I would have gone to this, to that trough over there. I would have made that green, and then this one pink and said, okay, the next level is going to retest the 44.85 level. And if that gets taken out, you've got a complete change of scenario for any investor today. I won't call there any trader today. Why? Because we've, the pattern of having sharp moves to the downside we've seen for a couple of days, and then a spiral to the upside only to give back either all of it or chunk of it, chunk of it by the end of the day, we've reversed that today. So now we should see maybe selling into three o'clock, and then maybe some buying comes in. Most importantly, what I'm looking at here is that this V-shaped pattern right here called it like an Eiffel Tower. If it wasn't for that little peak, that would have been an Eiffel Tower going straight up to A, and then a single leg faded to the downside. Well, we're watching this very closely. Why? Because now the S&P, this is the futures are down, negative. The S&P cash is at up only a dollar, and the Dow is at only a 56. And this is the whole beauty of being able to use certain technical indicators. Now what I love about Larry, I'm not going to go another second further without saying, when we talk analysis, candles for me, the reason why I like candles is just because it opens up the chart when you've got the bar charts. It's a little too close. You can't see everything. Number one. Number two is candles give you an incredible amount of information where they're open, where they're closed, what they do into a bar. It doesn't matter if it's a one-minute or a monthly chart, 10-minute chart. It just gives you that information. So on Monday, Teddy Kecksteig's going to be doing, and he does fabulous work with currencies. Some of them are different things, especially with currencies, but he's going to be showing you completely separate. He's got an individual webinar that is for understanding candlestick patterns. So I highly recommend it. I've heard him so often, so accurate. He's the one that was talking about crude oil going to the moon way back a couple of years ago, and wow, he was right. He does fabulous work. So I'm just suggesting to you who are interested at all in candlestick patterns, please consider. Go to the front page of TFNN, check out this is a separate entity to his usual, his own service that he has here. So I advise that. I've got certain candles, some that I've created names for, which happened with Roman candle. We had that the other day. It's really important. We had the Roman candle back in the S&P at the top in the monthly chart back in 2009. No, sorry, just immediately off to the top. Everybody's got their candles that they really favor, and I think he does an incredible amount of work. And he actually has a book on candlesticks. So I recommend. Now let's get back to our story. So I'm going to go back here and say you've got this double top with a 200-period moving average being hit and repelling the price. Did I need this when I was here? No. Did I need it when I was there? No. But the moment it gets within a fraction of that, it's like a magnet. It grabs the price and then it either goes over and holds or it gets repelled. This got repelled. So one technically, you didn't even have to think about it's just sitting there doing this. And then suddenly it becomes important. It's like you're driving along and out of the blue there's this light that's about to change from red to yellow or green to yellow. Whoa! That's exactly what it is. It's a whoa! All right. Next thing I wanted to show you. So wheat. So for subscribers to my opening call, we've had the DBA forever. Since this at the bottom, right? You see this little doji candle in the monthly? Well, in June of 2020, we went along with 13.25. And what is it? It's the DBA Agriculture Fund. So we've taken a little bit off. We still have a core position. We went all the way to 23.01 in May of 2022. I could show you the symmetry, the bar left side, right side price, tie match right here. Let me just show you this. I chose from this particular area here and I chose a particular candle. I always teach about that in my webinars, et cetera. And it went right to it then it pulled back. So in a sense, it's a little bit like a cup and handle. One of my least favorite chart patterns because when you finally realize what it is, it's a little bit too late. Not only that, when the handle breaks to the upside, the price comes back to the handle. 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 global market. 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 If you're a big 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 of signing up. Subscribe to the Fibonacci 24-7 newsletter today. 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TFNN Educating Investors Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com Then hit Watch Tiger TV. That's TFNN.com Then hit Watch Tiger TV. $1.77 Basel Chapman sitting in Folare Pizzeria to trade what you see. What you see right now is a peak D in the DBA. That's the DBA Agricultural Fund pulling back sharply. The whole thing about this is that grains were doing very well. Down grains are starting to slump quite a lot. Did I do S? No, soybean made a peak from the rooftop. Pull back sharply is holding quite nicely here. All those letters are in the wrong place. But this did go to peak F right there. Pulls back very strong A to B and this is in a buy mode with the stochastic still holding over 80%. Magne is very good. 90s way over the 14. So soybean contract let me just say this is the there it is. Come back. Continuous contract is still holding well and peak D a leg D in the monthly after wait for the whole month to finish before calling it a peak. So this is one of the better ones. Look at corn. This is a continuous contract. I've lost some of those annotations. Oh, and I had the beautiful left side right side price. I did everything anyway. So yes, there's H pattern. Remember the red H fails at a peak B. This is going to be important because if corn suddenly breaks down this arch formation with the big spike here nine is still positive. It's really close in the month to turning pink. That would say that the grains are pulling back and in fact we're having a deflationary perspective here. Not including crude oil because crude oil has had a really good run. It's getting a little bit tired. Look at that on balance volume. It's just turning up from an overboard level. But the stochastic holding at 91% and flat holding in this area that is what you want to see. So I still see crude oil as having internal strength. But it is in this rectangle if it starts to trade and close up on a weekly there's a weekly chart in the middle and a daily on the left, monthly on the right if crude continuous contract can start to trade into actually now I'm going to get rid of all this was really important for us for a long time in my analysis. Don't need it anymore. Let's just get out of everything. We'll go with the clean chart like clean. So let's just do that clean clean. A little square there gets to everything that's taken away and now you'll see that in fact just there's nothing to do. You take your little arch formation and say whoa wait a minute crude oil is actually making higher highs and higher lows. It was making lower highs and lower lows. Now it's sort of turned the table. The weekly charts at 86% and the on balance is a little bit overboard. MACD is fabulous 9 over the 14. So this says crude oil has a chance to trade if it can trade and hold for two out of three weeks if it can hit 86 30 or higher. It means that you're going to be making that 83 level to 82 very strong support. You've got a whole new range now in crude oil. So we're going to be watching this. The daily is a little bit overboard. All the tactics are still pretty darn good except for the on balance one says hey be careful could have a little bit of a pull back here. So I wanted to show you something else here. Look at this dollar. So these are the same techniques as long as I've got a price that I can follow I can do chapter 1. The only thing that doesn't work is the VIX. I don't try because it's an emotional indicator. The volatility index. It can go to a C at 85.47 in March 2020 and then plummet and not even think of it. It doesn't need that because it's something very different but you see this horizontal line right here about 15 between 15 and 14. That's telling us that the VIX index has a bit of a flaw. It's not a flaw FLAW but an FLOOR. Why? Because look this line goes all the way back. I can go back and back and back. The bank crisis October 2018 hit 89.53. This is the CBO volatility index. Then it comes back and it was in the 14s to the 8s for years and then all of a sudden through the coronavirus we get ourselves something completely different and you're going all the way here to the March 2020 high in the VIX at 85.47 under the 89.53 bank crisis high and then it starts to make this a new base a lot higher than it was before the 14s. I'm watching this closely because on a short-term level the reason that I want to remain short the DAO because we have a little bit of room because we got, as I say, just about the exact top is because this volatility index is starting to treat the whole area of 15 to 17 or even 18 as a new comfort zone. We haven't seen that before. Usually it pops up and then it fails. Look at this. You inverted arch formation to the H. But this is a successful one because it ran up from the test of the left side high. It was a higher high than that particular low right there. So this says if the volatility index continues to remain in the 16s moving to the 17 or 18 level over the next few days there's going to be selling pressure. Maybe you don't know my work at all. There's something else I do. And that is I have a thing called the dark news cloud cover and all it is it says that in the context of news I don't want to get into news because I'll start going off on a rant but this is saying in terms of news the market is always vulnerable to something. There is always interest rates impeachment who knows what it is. There's always something out there that worries the market. But I like to draw it in as internal high and residual high. In other words it's like an earthquake and we do that at the lows as well I did it mostly at the lows although I talk about it at the highs but we use some other techniques but look at this. Internal low this is from the from the 9 from September of 2021 and then October the 1st you get the low that was the residual low and then you had that fabulous news then I typed in 8th of November 2020 dark news cloud cover and all it is is this is the moment that I think that the market is going to start to respect something in the news and take it as something very serious. The same news yesterday could be like water over ducks back that very next day becomes oh my god crash my end of the world and I like to look at it as earthquake and aftershock at the top earthquake aftershock either at just about just under or just below the previous high in this case or the low and then you have to watch to see what happens and it's worked for us so so so many times but back we had many of these from November the 11th 2022 but from this whole area I said you know it's just going to stay with us forever until we break above 35,740 I think it was let me give you the exact number 34th oops what was the high 34,712 until we break above it that news is just going to sit there if we break above it we're going to have to look at the market a little differently well lo and behold we broke above it this is a marshmallow we managed to get all of these lows very nicely the top is always tough because there's no in this particular case I drew this in I actually drew it in but then I lost the other day and I said this is the new dark news cloud cover and at this particular point at any stage the market can you take very seriously something in the economic use that makes it very nervous I think you're there just for the shorter term I'll be 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 and find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman wave the Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices opening call newsletter by Basil Chapman and 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 ready to take your trading to the next level introducing Tom O'Brien's award-winning newsletter market insights your key to successful active trading Tom O'Brien renowned for his expertise in the financial markets has opened market insights to be your daily guide to profitable trades Tom publishes his daily market insights newsletter every market day before the market open along with update when warranted stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to your inbox whether you're a season trader or just starting out market insights provides the edge you need to navigate the markets with confidence ready to join the ranks of successful traders head over to tfnn.com and subscribe to market insights today don't miss out on this opportunity to revolutionize your trading game head over to tfnn.com right now to join thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter market insights firsthand 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 L.A.B.U. or L.A.B.U. or L.A.B.U. or L.A.B.U. or L.A.B.D. Directions daily S&P biotech three times bull and bear ETFs visit Direction Investments.com 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 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 foresight fund services LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ so first about serving in Larry and we're looking at DNCC dark news cloud cover that I think it was a little before I'm just putting 726 and as I say on August the first of couple of days later we actually went short the Dow with that loss you never know but if you get the edges of the outside I love to try to get there and that's what Larry does so well he has numbers that he looks at that you look at you say how did he get well it's just to be trading at 20 and he's got 15 that's the price to get it and it just works so beautifully so whatever your technique is I say just repeat it over and over refine it get to get to know it if it really works for you nobody should say anything anybody should say that's great and if you add something else that is additive that's even better so now let's do this because I have a couple of requests let me just do that before around time KRE there's a technique that I developed years ago if I can type in the right place right there called the Chapman wave I always put these under the breath of Chapman wave, Chapman wave price volume climax a lot so KRE trading this is the S&P regional banking ETF all these techniques are the same it doesn't matter if I'm applying them to the futures or the e-mini remember the dreaded H I bet we broke it on the left so the left side low yep there it is right here there it is you just keep making these dreaded H's and keep going lower and lower this is to me a really important moment in the market because it's telling us that the general the Dow cannot leave the troops without the troops following either they're going to come back and join the general or the generals are going to come back and join the troops and right now I think the general will come back and join the troops so KRE use the technique I use the technique right here when the volume on it goes down down down and then finally just everyone just throws everything out with the baby of the bath would unlike that expression but anyway it is an expression and on the 4th of May at 3452 you get this massive gap down you look at this volume it's unbelievable major volume explosion the price turns around my rule of thumb is if it can close sharp and start to hold nicely above the the candle high of the big down day you can go 28 sessions and if it holds 28 sessions above the high of that bar it can go 56 sessions without coming back to test the low and this one's gone even more at training at 47 left side right side price time match it did that to the lower level right here not to the higher one I did it to this one here and that stopped let me see that goes to there it was a couple of days late anyway so this is holding the 9th period moving average but everything about this is the on balance runs very weak the stochastics weak the rental strength the little gray lines weak the magnies turned down but it isn't expanding too much in the 9th period differential and the 26 but it's getting there but look at this the green 9 is still positive so when that turns down KRE should pull back I would say 47 if the 46 to 45 area is the very first base of support that really has to hold if it breaks that 45 42 is the 14 period exponential moving average support in the weekly chart to see this weekly chart here technicals are all very good so I would like to see the financials pull back in this digestive phase we're in right now that's what I'm looking at but even if it rallies the 40.84 200 period exponential moving average it hasn't even been there for since it was tutoring around in February and it couldn't break it hold above it and then look at repellent zone it didn't even before that so that's really important the 200 period moving average is right now down 49 and I think that's going to be strong resistance so I just give it time I'm just saying to you at this particular point we might see that but now the next question came in would I look up where to go to HGX so I'm a little upset about this HGX is the Philadelphia Housing Sector Index now we went short TOL tall brothers why because it made this dreaded H pattern it was rallying and I thought it could have just a little bit more but it's bound to fail and if it fails it's going to make a lower load to a leg C to the downside well we had two split positions one split position got stopped out of the first and today it just nicked us to the upside it was 81.91 and now it's at 79.21 is it too late to do I don't have to think about I don't think it's too late to do but we already had one attempt that was split two ways and I did it two ways because the second short was higher up than the first but it was like a one or something point to stop I mean when you're shorting something to put one or two points up is nothing but I'm just not prepared to do that I'm going to wait and see I do think that it's in a consolidation area it's been it made all-time highs why would you want to short something in a high all-time high it's just because I got the signal but the signal is working but my money management said I just can't take much risk at all so we didn't take much risk looks to me that when the nine-period moving average of the HGX daily chart actually crosses negative and look how much you have to go down for it to do that if it goes under it's a 562 if it goes under 550 that low there was 559.29 that's the daily chart if it goes under if it closes under 558 I think it's in a digestive phase in the daily and that should affect the weekly if it makes a new high above 581 that's not just impressive that is fantastic next one is Microsoft MSFT Microsoft and remember all these notations that you see before you are done by me now you see I like to look at double tops so first of all peak D is where you think other things can happen this has actually gone to an F and has pulled back very sharp he's up 34 since a 332.56 but it's in a cell mode in the daily the weekly is still holding really strong if we can get it 322 if it starts to trade under this candle right here the low of 312 if it starts to trade 10 points lower it'll take a while but if it does that then that weekly chart for the first time since quite a while since earlier this year is starting to show very negative action but even here it flipped back to positive on the 9 period moving average but this is what I'm looking at in the is this is typed incorrectly this is either an E or a B is an alternate count in my show tomorrow in my target technicians hour at 10 o'clock Fridays when I do more chapter wave notation analysis I'll discuss this I'll put it down Microsoft Microsoft or someone remind me this is the monthly chart I like to look at the vertical analysis and that just says look when it made that high back in November of 2021 2021 at 349 the MACD was fantastic look the MACD was fantastic SACASIC was flattened holding in the 90 something percent area on balance volume gave a hint that it was about to turn down but it took another another two days to do two months to do that but look what's happened here the MACD's flipped positive the SACASIC's flattened 87 percent on balance a little bit overboard the 9 is over the 14 here the technicals are still pretty darn good it says it could drop all the way to the 290s and everything could still be holding very well so I'm looking at this and I'm thinking that Microsoft is consolidating off the fantastic run double choppish pattern and it will take a little while for it to get back on track but it needs to digest this I'll be back for the final segment Battle of the Chapitons Hour that's my show this is Larry's show, trade what you see if you're looking for potential trading setups in the stock market then Rocket Equities and Options report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them with a compilation 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 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that's number one. Number two is this is the Chapman Red inverted Roman candle the days young so you could close anywhere I'm saying right as we're looking at it 155 p.m. if tomorrow's a daddy candle if it closes close to this if anytime tomorrow Nike trades above 111.10 for 60 minutes or more today's higher of 111.95 could be tested if it closes within the next two days below the low of today which so far is 108.60 if it closes under that be careful because it says the next low on the left side could be your target which is 107.35 so this is a perfect example of Chapman Red Roman candle but the inverted I call it the red one because it has the long wick to the upside oh and it has to close halfway to three quarters from the top of the long wick if it's the upside from the bottom of the long wick so it looks like a Roman candle when you light a Roman candle okay so as just to sum up we are short for subscribe to my opening call we're short the S and Natures and we've got a rather aggressive position there and we are shorted now our short in the homebuilder the tall brothers would have worked if I had little patience it's doing everything I wanted really just stopped us out as a little pop to the upside and we are looking at this a scan saying cash is king right now just be careful what's coming up it doesn't have major sales sell within it it just I get you in the X the title tomorrow it's not even good have a great rest of the day