 The following is a presentation of TFNN. The Tiger Technician Hour. With your host, Basil Chapman. Call now, toll free at 1-877-927-6648 internationally at 727-445-1044. Now, Basil Chapman. Hello everyone, Basil Chapman, Tiger Technician Hour on this 13th day of June. And let me just say before I forget, I will be doing my show tomorrow at 8am in the morning. It's going to be replayed at noon and the next week I'm away. I'm not sure yet if I'm going to be able to do any shows, live shows. I will do my news center, my opening call. That's going to be going out every day, at least the Traders Corner plus a couple of the charts. I always try to put out a lot of energy there, a lot of information for my subscribers. Oh, and thank you very much for those of you who attended last night's webinar. It is going to be up on TFNN front page. This is not like you need to get it absolutely today. If you didn't get it last night, you're really stuck. This is one that there were so many educational tools that I was discussing. So much information that is really pertinent to not just the time that we're in, to the time that I'm expecting coming up over the period of the next six to eight months, that I think it's absolutely a valuable webinar in the sense that, well, first of all, it's free in the sense that if you get it and you're unhappy, it's a 30-day money back guarantee, plus you'll get my other webinars that you may be able to peruse through or very, very informative. But I really felt that I did it to the exact minute, and a 90-minute presentation which included free thinking with charts, live charts, as well as a prepared format, and we hit it right on the button with the questions answered, et cetera. So I feel very satisfied that I accomplished at least what I wanted to do. Hopefully, as subscribers, there were some nice comments, but I hope subscribers feel the same way. Most important about this particular webinar, I show some of the technical tools that can be used all the time in trading. And that, in fact, is worth its weight in gold. Oh, talking about gold, gold is up. But let's do this quickly. Let me show you the e-mini. Everything with two tankers being either attacked or at least something that happened, conflagration. Everything was like, oh, my goodness, what's the market going to do? Well, the market has shrugged it off. It's up 75 now in the Dow, up 10 in the S&P. It's looking, yes, the e-mini. If the e-mini at 28.95, this is already the September. Oh, man, we're talking September. Half the years is about gone. So we're looking at if, at some point, the e-mini gets to 29.03 today. That's another seven points. That's a lot of points in the upside. I'm just saying. Don't get what the reason is. It was able to break into the 29s again. That's going to be a big positive, not just for the close, but for tomorrow. And if there's a sudden turn around 28, I would put 28.84 as key support. So that's seven points down. And we've got about 10 points up, 11 points up. A big difference between the two. Let's get into the nitty gritties. Nitty gritty says that we've stopped right at the Chapman Wave inside track, left side resistance level between the pink line and the green. We did have, in this particular case, it's not from the loads from a different point. We've got a left side, right side, price time extension. And that went to yesterday. And I went to the debut today. No, no, sorry. Went to yesterday. We didn't quite make it to the top bar that I said was a key level, 26,776. But we did go to 26,000. What is that? Did I just say something wrong? 248. So that was a two. I'm sorry. 26,276. What am I talking about? That would be near the record high. So it's a declining trend line. And it's a sideways move. And it stopped right at the level that we said based on the 120-minute chart. Let me show you here for a second. Here's the 120-minute chart. This is the 120-minute chart right here. So that went to a peak E. And I said to subscribers who had got in Monday a week ago at the exact low of the Dow that if there were swing traders based on the usual three to five sessions that if you're a day trader and working for a swing, it had reached at least a D. And if there was a pop-up to an E, take profits down. And that was right at the open on the 11th. And that would have been at about 26,180. Just a little off the top, 60 points off the top. Very nice move from the 20 right here. Round about 24,000. I think it was 820. And hey, that's a pretty big 10, 11% in a very short and a week and a half. So anyway, that was just only for swing traders. And there's a plan that you could put it back at a certain level. But it was only taking a little bit off because my contention here is that there's a really, if this is just a minor blip, and we can go to 20 on the daily chart above 26,248 in the next day or two, I'm going to have to call that a new buy signal, leg B, probably almost immediately I'll have to go to a buy mode, but we'll see you go one thing at a time. Why? Because look, the, whoops, it's this one here. The stochastic is steady as a rocket, 88%. That's really nice. And the MACD is expanding. So I discussed some of these technicals last night for subscribers to my opening call. So if you're new to technical analysis or you really want to get an education, even if you're used to technical analysis, there were some things I discussed here that I think are pretty pertinent in this particular environment. All right, enough with that. Let's go to the SMP. So the down support level is at 25,920, 25,870 should really hold any sudden weakness. We'll see what happens. And in the meantime, the SMP, just to do this quickly, SMP, the weekly chart needs a lot of work in terms of having the V-shaped pattern continue based on the technicals. The MACD is okay. It's negative, but kind of flat, and that's okay. But the stochastic is only now turning up at 43%. It really needs to get a lot more. So that's going to be very important. When I'm looking at the, where did I go? Let me just put this on the side here. Thank you. Okay. When I'm looking at the support level, so let's just say 20, right here, 28, between 28, so 28,74 and 28,72, that should be a good cushion on any pullback. Wow. Any move to the upside that goes over the high of the 11th goes to 29,11, and holds at least for a couple of hours would be very good action. Now the QQQs, this is going to be very important. Why? Because if I'm looking at the QQs, in a way they're lagging, they haven't had quite as good a move from the low. And that says that if I look at the fang stocks, I mean to have a look, isn't there an index? That's a fang index. I wonder what is, let me just do this real quickly. Facebook up today, up 2.82, it's bumping up against this longer term, let's call it an intermediate term daily from the 198.48 top of the 25th down to where it's hit three days in a row. Look at that trend line. I'll make this green because if it breaks above it, that's going to be good. But actually I'm going to make it red, and then I'm going to say, let's do another one above that. So I'll make this look, I'm making it rare or pink in this case. And then I'm going to put another one just above it because it needs to clear that, it needs to actually start trading. I'm just putting it kind of there. And it needs to, Facebook has to go above 180.50 to really show that it's got a little bit of strength to help the MACD improve. But so far I just said, you know what, chop, chop, chop for Facebook, can continue a little longer. I'll be right back, down to 66 recipes up, 9.32 Basil Chapman, Tiger Technicians Hour, and host of the Tiger Technicians Hour. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. Whether we're in a bull or a bear market, a good strategy is to have the tools needed to help you scan and analyze the markets before you trade. The Taz Profile Scanner instantly scans and filters over 2,500 global financial markets, such as stocks, ETFs, commodity futures, and forex. 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Taz Profile Scanner is a brand new website. You can still visit us at the same TFNN.com URL. But when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high definition, or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com Educating Investors. 827-6648 Internationally at 727-873-7618 Hi folks, we're back and I have to apologize to Mark. Mark, are you there? Mark in Denver. Yes, I'm here. Thank you. I saw your name right in the beginning of the show and my producer said all right, off the back we have Mark in Denver and I even said okay. And then in such a habit of my prologue that I got carried away. You want to look at USX Steel, correct? Yeah, and I enjoyed your prologue so it's all good. Yeah, I nibbled on it yesterday around 1370. Let's start to look like it's starting to set up a little bit, but I was wondering what your thoughts are. I took about a half of the issue. Okay, so this is very good. You actually went in yesterday to United States Steel. You got $14.07 up 32. Nicely above your entry point. I've been looking at this really closely and I'm trying to decipher because for every webinar I don't know how long, I've always talked about steels. Last night I decided I would not talk about the steels go to I wait a little bit because there's a lot going on and I'm thinking that if there is going to be some kind of amelioration between China and the United States with the tariffs and with the what is bought and what is not and what they're going to be doing I think at some point you will see the whole steel sector SLX is the symbol for the steel sector Van Eck Vector Steel ETF trading at $0.37 up $0.48 I would not be surprised if this whole congestion area down towards the lows is going to turn into a basing form. So in a sense, I'm not sure if you I heard kind of a click. I'm not sure Mark are you there still? If you don't mind what I'm going to do real quickly is I'm going to go to the Chapman projections of different timeframes to the 1412 to 1420 strong resistance on a shorter term basis. I don't know if it's short term in the daily but it did repel the price before but on the 10 minute chart that's the area that between 14 and 1412 and it's trying to tackle that right now. I'm going to make this suggestion. So you've got in a position but you do intend at some point to add do you have a price that you would start to add at or would you wait for it to rally and then maybe see if it's building some kind of weekly strength. I'd like to probably do that second part. Okay so then this is what I'm going to say to you. First of all, you're the one that chose to pull the trigger and to get in yesterday. I have to give you credit for that because it's been a tough sell if you're looking folks on the weekly chart in the middle just have a look at this every time. This is on our radar for ages. Then I say I'm done with steel because it's just not doing what I want and we watch it to make this chapter 8 pattern lower lows it takes out the left side goes to lower lows. This is a 200 period moving average it goes all the way from the 47 area down to the 25 and 27 actually and then it breaks down then it tries to rally towards it from the 17 level and can't get it stops at 21 and then it goes all the way down to the most the doji low and this is the candle that I was looking at just the other day I thought wow at 1167 that doji in a leg E and then in a trough E you know that that's it to me that the risk reward was getting far more beneficial and weighted towards the reward side then the risk it could be time so here I'm going to say to you congratulations on your entry because if steel is going to make a move at all within a couple of days it could go very quickly to 14 point 90 15.10 and then you say oh my it's already up 4 it's up 35 or 6% from the low that's a really big move and then you look at the monthly chart or the week and you say oh my goodness there is just a horrible chart so yes what I'm going to say to you first of all congratulations secondly I'm going to say I don't know if you have a stop at all but I'm thinking that just in this particular move at this particular time for you as steel I probably if I got in right now if not if it was my subscribers but me personally I would say I would not put a stop in at this point because there's just enough evidence to say on a shorter term momentum play the technicals are suggesting that there should be very strong support in the 1360 to 1340 area and if that does hold you're going to see higher highs and higher lows so I would not want to be stopped out with a tight stop because it's going to be hard to get in a second time if it suddenly moves higher if it moves lower than you say oh that was a good move but I'm looking at this and I'm with you I think that the technicals and everything about it are suggesting that unless it's really bad even more bad news to come this is the basing area but the second the second point I'm going to say to you maybe it's time and not price that if in two weeks time US Steel has not taken out the 1167 low or not even taken out the low of the fifth of June at 1275 but it's stuck in this area with slightly high highs but not going anywhere I think it's trying to form a base so in that regard you've already said you've got a half position now is that correct right okay so I would I I don't really want to advise you because you've done this very nicely you've thought it through and you've done it what I am going to say is these are my suggestions you might want to take them or not I think a half position for a stock that's been beaten down and beaten down but still hasn't had a resolution to make it really a viable stock I'd say hold off on the other half maybe the other half could have a quarter position and that you add you're in in the high 13s maybe you just put a little put a position in and maybe 13 58 1362 you just put a small position in as a feeler position because if it's going to work it shouldn't it should if it should slide that slide based on the techniques I'm looking at should be brief interday and it should close at the high of the day and then you've got yourself another a tranche of the buy that you wanted to have but you've still got enough money to say on this position you've got a quarter left and that quarter could be used if it breaks to a legacy above 1454 at 1455 I would put another position if you haven't got the second position then I would say to you at 15 and legs see to the upside at 1455 I'd add another position but I don't think I'd go for the full position at this particular time I'd rather use the other half and split it so that I've got a little bit left over for who knows anything can happen at any time you either want to be able to grab something on the way down because it just it looks like a brief emotional response to something that's going on or you want to just have it there ready at any point but I don't think I'd get the full position yet you can even start thinking full position as it climbs and it goes to leg C that's where you can put the extra little bit on and then you're ready you're ready to do but the way it's had such a deep correction just to me that there should be maybe not an arch formation but there should be some testing of the mid-13's at some point and that's going to be the clue but hey nice entry point I'm with you that was a very good entry point congratulations I liked it better than AK feel that like a little weaker to me I thought I'd try this one good so let me know how it goes thank you for calling I appreciate it Mark okay bye bye we'll be right back since 1984 Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion while originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Basil found that computer software which included the standard technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com cancel at any time during that trial including nothing get your two week free trial to Basil's newsletter the opening call today by visiting TFNN.com the path of least resistance is David white's daily trading newsletter and if you're looking for active trading ideas then now's a perfect time for a 30 day free trial to this powerful daily trading advisory service David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter 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first of its kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including guardleafs, ABCs, butterflies and much more the art of timing the trade charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks or even months searching to find and right now we're offering licenses available at only $79 a month we are so confident that you're going to love this new charting software that will even give you a 30 day unconditional money back guarantee don't miss out on this incredible new piece of software get your copy of the art of timing the trade charts today by visiting TFNN.com 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 Hi folks we're back so GNRC is a generic holding I believe that's in generators and I'm not sure if I did this in the den the other day about 2-3 days ago or if I did it live but what I was saying is that I'm thinking that this is actually not a G that's going to be a leg in the daily chart trading 64.92 up to $1.83 well it went to a very powerful leg from let me just see so it went to 65.70 from the 53 area it went over 10 points higher to 60 65.73 on the 11th and that's what we were looking at and I believe I maybe it was yesterday and then I said this everything about this looks like it's more like a new leg A and I probably would have to say it's an alternate count but everything about it with the MACD so strong and stochastic over 80% 82% a little lower than it was the other day I like it and I think it's a very good person that was asking about in the den I said yep I like that it could pull back a little bit but if there's any pullback at all you want to actually be thinking of adding to your position and now it's extended very nicely in the daily chart if it's able to get to the 66 I have to call this an absolute this is all-time I'm sure this is an all-time high yep all-time high right now it's above the high that was made back in 2014 in March of 62.50 made a beautiful extended cup formation you see this pattern yeah this is I think what the dollar is going to look like in the end in the monthly chart so yeah congratulations very good good position and yeah I agree massive five-year cup formation so okay now let's go to a couple of things that I'm missing here I just wanted to say that the IWM is up on a percentage basis up 0.86 and the Dow's earning up 0.18 and the S&P is up 0. this is 0.85 percent and the Dow is up 0.18 percent S&P is up 0.23 so this is what I've been talking about and I spoke about in my webinar last night how we could rotate and we could go through different scenarios and even stocks that are in a strong group group you would find some that are very weak and some of the weak groups you've got some outstanding stocks for instance look at Merck Merck which I mentioned last night has had a spectacular move gone to an all-time high yesterday when I was showing it on my in my webinar and yet the PPH which is the Van Eck Vectors Pharmaceutical ETF look at this it's in the lower range it looks terrible so specific stocks can do very well remember I was looking at Facebook just a moment ago so in that thang selection Amazon holding nicely at 1870 up 15 right here look at the monthly chart it's got this triangle formation I have to tell you something I can't stand these I draw them all the time and the theory is that if you break the trend line the declining trend line you go above it you should go back to the top on the left side well for me that's just the cup formation of the V-shaped formation and on the downside if you break the lower support you should go all the way down I found that you can continue in an apex pattern the sideways triangle and keep going it can frustrate the heck out of you it's almost like a rectangle in a way so it's not one of my favorite I like to use with other chaplain wave techniques like this chaplain wave inside track repellent zone meaning that if Amazon starts to trade at 1985 at any point it's not far away it's 1985 it's like 110 points higher well that should be about the sound I don't know why it's cutting out cutting in cutting out Netflix is just it's struggling it is just struggling so that's the way I'm looking at it so just let me recap for a moment I was saying that Merck was very strong and a very weak sector Facebook is just kind of so so Amazon is strong in in a sideways big consolidation eight month consolidation phase with some of the fang stocks so each sector now is working kind of independently and that's another focus that I had last night so I'm going to for my subscribers maybe this weekend maybe it'll make sometime in the week I'll get back to the whole steel sector I've let it lay off for a little while I just wanted to see how how to behave this week and there are some signs yes Disney that's a good point here let me see Disney you know I like Disney in fact for subscribers I was going to grab some Disney but that was a choice between Disney and PLD which is the prologous which is even now making all-time highs that's the one I chose it was really it was one or the other and that's the one I chose I do think that Disney is actually for a while I've been saying Disney's acting superb it really is look at the cup formation in the weekly chart look at this monthly it looks like it wants to extend if it goes to a higher high I'm not calling that f I'm calling that f slash c in the monthly chart alright next question I had was IYT I look at the IYT transports up $1.42 thank goodness a little bit of a leg C right here just bumping up against the 200 period moving average I had more statements than anything else this morning where if I'll give it to you exactly because it was it was worded very well here we go when a trend is only in a when a trend is truly in a v-shaped pattern there's absolutely no time to think about a digester phase or vocation time to think about adding to your position you simply need to add to your position any time there's the slightest pullback that to me is the definition of v-shaped pattern I believe we're in on the daily charts Kevin yeah Kevin I agree with you I'm just not sure let me just go back to the daily chart of the Dow which is kind of what we're talking about this v-shaped pattern right now has different conditions to the v-shaped pattern that unfolded from the December low this is a secondary move to the upside based on other factors sort of similar factors but factors that are now in a different phase of their own development that that's tariffs that's rates you know I'm getting tons of stories right now about the about the yeah let me just give it to you oh it's just so nicely worded I hope I can find it it was about the yields dawn dawn dawn the real yield will I find it okay maybe I'll have to use the next break but it was just a whole bunch of information about there it is okay if I can just click on it now to premium hit record low amount investors in bonds who are willing to take risk of longer term versus short term bonds of being come come what of being something of being let me move that over of being compensated in interest then another one that said right here where we we're talking about the three year the three year over the 10 year you know this is these are all very important I know a lot of people are now talking about this I don't know if I want to take time right now maybe tomorrow's technical Friday I'll get into it all I can say is there is no other place to go and that's the reason why the market is doing well I think that that makes it as simple as you can nimby or whatever it's called what did I say in the TLT I'll be back and we'll talk about it in a moment it's called if you're in the CD market and looking for a secure investment the Tiger first mortgage program may work for you that same $50,000 investment in the Tiger first mortgage program would give you 3500 per year or 14,000 over the four years what should you prefer 6200 or 14,000 of interest on your investment if you would like more information about the Tiger first mortgage program you can call me at 877-518-9190 that's 877-518-9190 it's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7, 2002 when gold was trading at under $300 per ounce gold peaked at more than $1,900 in 2011 and after spending many years consolidating at lower prices gold may be poised for its next big run Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, the dollar, bonds, South African rand as well as 25 different mining equities with specific high sell recommendations as of April 1st of this year the gold report currently has 8 active positions with an 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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 don't forget you can listen to TFNN live today go to TFNN dot com then hit watch Tiger TV that's TFNN dot com then hit watch Tiger TV for the latest market information so let me just get to this HBAN which is Huntington bank shares as I was looking at the chart and everything I thought I know this name I know it very well um yeah Huntington bank shares had a spectacular move a couple years ago and then it kind of was kind of dull and then last year 17 17 into 18 middle of 18 this time last year it had a really nice run again again from somebody in the 10-11 area up to the 16s and it's pulled back sharply into the 11s and now straight in 1349 so Basel is the current price of HBAN a good entry does it look like it has formed the base at the best of days tip Tim I'm looking at this and I'm suggesting to you that the pattern that I speak about very often where the lower case H goes to a lower case M is really the pattern if you're thinking of a trade I wouldn't do anything more than get a small position at 13.49 I'd have a fairly tight stop I wouldn't want to go below 13 13 29 13 19 and if it had to rise from here to 1365 I'd raise the stop why because I think it's going to try if we can get to 1365 there's a really good chance 1378 200 period exponential moving averages in the cars and then you can see a 1420 in the H pattern with a higher low on this side it kind of took out the trendline support right here you'll see that it really broke it quite sharply but that's not the issue the issue is that the MACD is trying to turn back up and the stochastic is rallying although it's only a 38% so as a trade yes if it turns into a longer-term position you'll be able to add to it because the next if it goes to 14.25 the next pullback should make the 1350s very strong support as it makes higher highs and higher lows so the answer is if you've got your eye on it and you really you like it it's something you followed this is probably an area where there's a good chance that if we can hold support and I'd only give a 28 30 cents stop right now I'd be looking at and say it has to work and it has to work very quickly but if it does work I think you can get a leg C above 1378 but it has to be within I'd say by Friday week maximum Monday a week you've got to see this moving up into that area hope that helps you question I had was oh we've got Adam in Ohio Adam how are you not too bad how is yourself today I'm good I'd be much happier if it wasn't raining and cold and miserable and summer had really started this is the longest start I can ever remember the rain wind is not going nowhere like the market ah man so you'd like to look at what Adam Amazon and earlier you was explaining the chart there's was a technical difficulty with the with the sound that's why I missed out I did not have a chance to back again to to hear you could you go over back again yes so Amazon and we have to consider Amazon as the old Sears and Roebuck I spoke about this a long time ago is I said this is going to be the case of Amazon is the equivalent of to 21st century Sears and Roebuck where everyone had big fixed Sears and Roebuck and they would have mail orders and all that sort of thing so you have to consider that this is a 100 year development in other words what's happening it might not be Amazon but what Amazon is doing right now is so evolutionary it's so revolutionary that it is really a company that you have to consider in a portfolio even though it's so expensive at 1872 you have to consider that it is some part of your portfolio should have a little bit of Amazon if you are looking at the very long term or if you have say children or grandchildren that you want them to you know something that you want to give them as a present at some point this is the kind of stock that I'd be looking at even if it had to have a big pullback in the next three four five months another big pullback but I don't think it will but it looks to me like this is really a major it is really highlighting technology the avid enthusiasm that people have really just embraced the technology that allows you to press a button and even on the same day let alone the next day you might be able to get those goods and it could be something as simple as a pencil you just order one pencil and you get them delivered so that has very negative implications for the consumer in terms of packaging and all the ways that goes with it but in terms of immediacy I'm saying Amazon is really a power to consider in your longer term outlook now shorter term there's a resistance level just like the Dow that we're looking at here I've drawn this line in I'm going to make this one green right at the moment I don't know if you're able to see the charts while you're on the phone with me if you don't in the archive you'll see it and what I've done is I've drawn what we call the Chapman wave inside track repellent zone and it's just it's held the price back right here so if Amazon in the next I don't think it should be more than Tuesday at the latest it got Friday, it got Monday give it a few days by Tuesday if Amazon is trading at 1905 and it's at 1871 right now that to me is a breakout with the MACD improving the stochastics at 84 that's very strong in the daily the weekly chart is holding quite nicely and that would say to me that there's a really good chance that the Dow that same downtrend line but in the bigger chart in the 2050.50 high of September at peak E in the Chapman wave going down to the most recent high of 1964 I'm going to draw this in I'll do the same thing I'll make this green because the prices are going to be different because it's a monthly chart and in this particular instance new parallel I'll make that pink there we go pink all right so that says do you think in the couple of days coming it's going to go back down to test the 1825 1830 and from there will turn back up so we will load up on that time oh do you have a short position not really no not yet I'm going long but because keep going up to hit that where it is right now so I'm trying to see if I could because I'm looking to get some lead on it okay okay I figured there was a particular reason for you doing that asked me that question especially for the downside your real question Adam am I correct in saying your real question is over the next three days what do I think is the base that the low that could be made in Amazon if there is going to be a dip is that the question yes yes okay so on the first level of support let me show you something I'll make this much is when you get a chance have a look at the archives because I'm trying to show you all the techniques that I'm using in the 120 minute chart it went to a peak D at a peak D the fourth high speak in the chapter where you can expect that that's where you might get a deeper correction that's what we've got but it's also turned into a cup formation so by the end of the day if Amazon is actually trading it's up 15 at 1871 we don't know what's going to happen by the end of the day anything can happen but let's just say two scenarios the first scenario is that it holds either it holds nicely here or that because the market is holding at three o'clock there's a bound of buying that comes in and pushes Amazon into the 1875 area so up another four five points can Adam can you stay a moment yes go ahead okay so I'll when I get back I'll give you exactly what I'm looking at trying to sum it up very quickly in the meantime Jerry in the back now you're waiting a line you're looking at Jesus which has just been absolutely fantastic today it has a bit of a turnaround I'll talk about that as 500 for the last 12 6 and 3 months timer digest also ranks me as the number one market timer for gold as well the fact is markets can be time and I'll 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nutrition we need to be healthy and thrive we take it every morning primal edge formulated and approved by nico and page of living a primal lifestyle buy it today for just eighty nine dollars click on the primal edge banner on the front page of tfnn.com Hi folks this is Steve Rhodes stay tuned for another great hour of the trader's edge heard here at tfnn.com Hi folks we're back and we're back with Adam in Ohio Adam you're still there oops I'm not sure okay Adam I'm going to do this because if it's being recorded you're able to play back in Amazon on the Chapman wave support levels 1864 is what we've got as key support and below that is actually 1876 so yeah 1864 will be any any sudden weakness over the next two days but if you're looking at leaps I wouldn't worry about a hundred points in Amazon you could go ahead with your leap at any point because I mean we're looking at higher highs at some point for Amazon it'll be back on track so that's my thinking I wouldn't get fussy about 100 points 50 points you're looking at something that's going to be trading in the 2050 area at some point in 2019 and even higher so please that's my look at it now let's go Jerry you're still there yeah it's my fault I was late yeah I'm just thinking of lighting up on the stock it's been looks a little over a bit in a long time and it's in an IRA account so I can sell some and buy it back so okay you know what I'm going to suggest I'm going to be doing my show tomorrow at 8am in the morning I don't want to rush this I think you're right that maybe lightening up a little bit but actually I see support and with interest rates they must be making a bundle with rates like this so I'm inclined to say to you if you've got a long-term position if you want to lighten up just take a little bit off right now at 170.01 but I I don't think I'd do more than that and I will deal with this because I want to do MasterCard American Express and visa together so tomorrow morning at 8 when I do my show I'll do some of this as well okay you might even want to call in if you're up at that time but I will do visa I like it in the MACD is good so casting is good I'm just inclined to say stocks that make new highs tend to continue making your highs you know that oh yeah now it's been a beauty yeah I don't want to hey thanks a lot thanks a lot sorry for the late call and take care okay no problem I'll do a little bit on it tomorrow I'll make a note right now I hope I'm reminded about it as well folks stay tuned you've got Steve Rose coming up you've got Dave White you've got Tom O'Brien and check out my webinar from last night in my opening call you get a city day subscription with the money back guarantee and I think it was worth it I'll talk a little bit more about it tomorrow morning have a great day and next week I am on vacation so Larry Pezzavento has just started his brand new service Fibonacci 24-7 and he's already delivering content to his subscribers on a daily basis when the markets 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