 of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, Larry Pezzavento. Okay, looking good. Billy Ray feeling good, Lewis. We're going to take a look here at the copper, copper of the red metal. Very, very interesting here. If you'll take a quick look at this, you'll see that we made a beautiful garly down here a few weeks ago in the nice run up to the 61 and it comes right down exactly to the 61. And of course, we had the big explosive rally in all metals here the last few days. We're going to cover those in just a moment. But this says that we're most probably looking for an A, B, C, D move up to the upside. By the way, I misspoke. Stan Harley will be my guest on Monday. He's traveling today, so he will not be able to be with us. But you can see here another 12 cents up in copper will complete it up at the 78% level. But the A, B, C, D will stretch up just a little bit higher than that. But remember that mathematics precedes geometry and that's what you want to be looking at, okay? Very, very important. Now, we do have a bifurcated market today as Basil Chapman always says. We've got the Dow Joneses up very slightly, but the Dow, the S&P 500 and also the Nasdaq is just absolutely screaming to the upside. I have to show you the picture of the Nasdaq because it's a really incredible work of art. And if you'll give me one second, I will get it up here. And I hope, oh, please tell me that I know I have it in here. Don't tell me these things. Oh, and here it is right here. Hold on just a second. We have, you'll see here, that's the gold market dock on it. Anyway, just bear with me here. There it is right here, I believe. Here we go. Now, we have already gone above the, hold on, let me just get this up here. We are 100 points higher. We've made the big ABCD here at 15,690. We've just completed that. But there's the Nasdaq. It's just been in this tremendous runaway move here the last one, two, three, four days. And please let me in. It's never going to go down type move. So that's where we are. Dow Jones was up a little bit this morning, but about about 150. But now it's not quite that much. So that's what we're watching right here. But the one that is very, very important from my perspective is the long-term weekly chart of the E-mini S&P. And I want to get this up because you know, folks, I look at ABCDs. That's what gets me to the Promised Land some of the time. And I'm happy to say that it's most of the time, but not all the time. There's the ABCD pattern. It measures to 429. Try that again, Larry. 4529 or 4530, whatever you want to say, the high today was 4534. I just saw a print at 4532, so we're still above that number. But this is a very interesting move to the upside. I haven't checked to see what some of the other markets are doing today because I was busy watching things in the foreign currency markets because we've had this tremendous move in foreign currencies that I want to talk about in just a moment. But first, I want to go through a couple others that look really interesting in here. Okay, we'll get this up here. I'll hold on. I'll just hit the wrong button again, Larry. Hold on just a second. I want to show you now where this is a four-hour chart on the E-mini DASDAQ. And as we come up here, you're going to be able to see now, we've exceeded the high up here by about 50 points or so. We're up into this area right here, but this is a four-hour ABCD chart. Now, this is not a three-drive because if it were a three-drive, the drive would be here to be very symmetrical. That would be drive one, drive two, drive three. This is a butterfly pattern. You have an A, B, C, D at a 1.618 or a 1.27 expansion. All this is saying is that we're getting pretty close to some type of a major correction here than ASDAQ. And it's just the probability, folks. It's not a certainty. There's so many things out there that say that these things could go up for a very long time, and they might. They might still do that. But this is where we are right now. The Dow was just a little less than that. Okay, now let's get back to the metals. I wanted to show you here. If you remember here last week, we were talking about the gold market because we were very friendly to the gold and especially to the silver. And we'll show you what we've been watching here. This was the platinum, folks. And there is where we were last week. The ABCD measured right to there. And all this is telling you on these little cycles is that from the high to the low took X number of trading days. And from the high to the low took X number of trading days. You have an ABCD pattern there. And you have perfect harmony and symmetry with the AB equals CD in both price and time. You'll notice that the BC swing was exactly 0.382. We were very, very platinum at that time and also gold. Of course, gold got all the way down to 1908. And now it's back up to hit 1969 today, folks. That's up $66 from the low at 1902. And that is twice the harmonic number, which is 32. So gold is supposed to correct a little bit, but doesn't necessarily mean that it's going to. But when you see symmetry like that, it's very interesting. We had one in coffee the other day. I remember I showed you a coffee doing the same thing. Well, that trade has started to work. It's not up a lot, but it's up a couple cents. And it's done what we thought it was supposed to do. And that's the real key to pay attention to what we're looking at here. Okay, now we want to get up here to the silver market. If you want to see a market that has just done everything, those of you that own these silver rounds that we've been talking about for years, I think we did our first ones and they were trading at $14 or $15. Now they're $37. But look at this. Now we've gone $2 an ounce in silver, folks, in two and a half days. That's a monster move. That means very overbought up in here, but that doesn't mean it can't go up a whole lot more. Here's where the report came in. You see, and then it just kept running and running and running. And that's nothing. But the only way you get into that is you put a buy stop in, close your eyes and pray. And fortunately, we had some longs in there that worked out all right. But not all of them do, of course, but some of them do. But let's take a look at one other one here that we're watching here, which is in the gold market. I want to get it up here so that we'll be able to see it. I got so much on here, folks, that I actually have a little bit too much. Well, because there's so much going on that I just can't get it all done at one time. That's the problem. So hold on one second and we'll get this other one up here. I think this is it. There it is. Okay. Here's what we're looking at today. Here is the gold over the last two weeks. Get this up here. You'll be able to see it. You'll see we had the nice move to the downside there. We hit that bottom down here at 08. And there was another buy right here. We had another buy right there. And we got out a little too soon, but we took a nice piece of the pie here. And now we're up here near this big 1.618. The expansion of the high today was 1969. The 382 of that whole move from the high, from way back at 2060 something, came in at 1971. So that's why we sold it at 73. And we're going to see what it's going to do from here. We're going to have to pay a few bills here for TF Finance. So stay with us 877-927-6648. 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For all the details and to start your 30 day Tiger Forex report subscription today, visit the front page of TFNN.com. TFNN, educating investors. Steve Rhodes started his trading career as a student almost 20 years ago, and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing at number two for the year, an amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn, and he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars, absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 days risk-free today. TFNN, educating investors. Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's daily market newsletter, Market Insights, is published every morning when the markets open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights, today and try all of our products and newsletters 30 days risk-free with our money-back guarantee at TFNN.com. TFNN, educating investors. Okay folks, I've put the chart up of the German Dax because I wanted to walk through this to show you the harmony that we've been watching for the last several days, watching it unfold. That's the real, because we've been doing this ahead of time. Now you notice on this particular move right here, you're looking at a head and shoulders pattern, just absolute classic. So as long as it doesn't get much higher than where it is right now, this is a valid head and shoulders pattern. But let's step up just a little bit and take a look at how it got here. Okay, now first what we're going to do now is we're going to look at this on a 60-minute chart because there's what you're looking at right now. This happens to be a 135 pattern, but it's also the right leg, your shoulder is right there, that last high that we made, that's sitting right at where the shoulder would be. Hopefully I get this thing right. Now there it is right there. Oh dear, I did something wrong. Shut the front door and raise your hand. Let's not worry about it and figure if we can get it up. There it is. There's your right shoulder right up in here. So let's follow through and see what the other part of this was. And then I have a real treat for you. It's going to be that what fact is that was the treat, but the real treat comes up next because we've got something that people have been talking about here for quite a while and that is the British pound and I want to just bring this up to you. This is a going back 10 years and as you can see we'll get this up here. Hold on just one second here. This is the British pound over the last 10 years and you'll get it up here. You're going to see some incredible harmony folks. You'll notice these blue lines that are here. Each one of those is equal and we've got another one coming up here near this 131 level right here 131-132 in the thing. Now look when we had this three drive to a bottom pattern nobody wanted it and now here we are into this rally and folks this is the definition of a bear market. You can see we've had nothing in the last 10-12 years. There's nothing but lower highs and a lower bottom. So we want to be getting in to an area where it's going to be really a good sale. This is not a new bull market in the British pound. This is a countertrend rally in a very very bearish market. Okay now all I'm going to do now is I'm going to draw this in and show you on this little kicks and giggles the way that I look at it. Simple market but back in the envelope math of the British pound. Let's get it up here and this isn't this isn't a sale to say go short here bull. This is a say place get ready to go short. Okay you're getting ready to complete the ABCD up here. Look at this. This thing has been running for about 15 days straight up. Here we did almost the same thing and we're right up here near this 130-132 level. That's going to be equal to the move that we had on the monthly chart and it's going to be a major ABCD pattern in there at the same time. Now what we should also do is we should also take a look at you know what and that is the Euro. So let's get the Euro up here and you're going to be able to see that we're really close here in the Euro too and hold on one second and then what we'll do is we'll wrap it up by taking a look at the US dollar is what we'll do here. Okay now you'll see here we come out of this level really strong. See once we cleared this level this was you know low devote time because you know you you come up and you blast out of this level you break that 78 percent level right here. Once you did that boom and we saw that in the US dollar. We'll look at that in just a second but because the Euro is 53 percent of the US of the US dollar index but we're getting we're getting ready to complete this. The difference is the way that it's coming out of here is actually stronger than the way that it came out of here. See how it went sideways for a little bit. This didn't go sideways. This is get on board now or be very very afraid. Now this was one of the reasons why the gold and silver looks so interesting is because when we got down to this level this is where we were setting at 1908 in the gold market saying something big was going to happen and also silver when it got to 2250. Now it's at 20 almost $25 an ounce and so that's why we're watching these things move so strongly to the upside so you've got to be prepared to see you know where you're going to get in. I'm not going to be selling it right there. What I'll do is I'll wait for the the market to make its top possibly so we have a quiet inside day that tells me that at least the the buying of the Euro has subsided a little bit. I don't want to stand in front of a freight train. There's no reason to do that. Look at these highs back in here folks each one of those if you'd have just waited one day to make sure that top was in you're going to be okay so all we do now is we wait for an inside day for a high higher high with a lower close. That'll tell me that that's where we are. We know that the ABCD pattern is here but that doesn't mean that it's going to go you know straight down from here. We don't know that we're just looking at it from a longer term time frame and when you look at the British pound on that monthly chart that all it's doing is making a counter train rally and it's been doing that for the last 12 years. You can see there's three very very distinct ones. These are long term ones folks so that's why you've got to sort of prepare for. Do they all work? Oh my gosh no but some of them they do and that's the key to what we're trying to do here is to pick the ones that do work okay. Now let's get back here to one other thing that I want to cover here and that's with the dollar index and I put it down here somewhere. I know I did. Dollar index is right here. This is part of it but I want to show you the falling away. Well it looks like I can't boy this is me and my okay here is the dollar index. We're getting very very close to this level here folks which is the magical well not magical but it's a very important 61 percent retracement and at that time you're going to be able to see here we're going to have a three drive to a bottom pattern at the 61 percent retracement. We're about 60 pips 70 pips away so when you factor in what the pound is doing what the euro is doing Swiss franc all the others Australian dollar then they're going to begin to close. Now this mean it's going to stop here. This thing could just literally go bonkers to the downside that's why when you put the buy in you also put a corresponding stop but this is the kind of this is a weekly folks this is going to be one that's going to be really interesting to trade with okay so that's why you know we're keeping an eye on them they're not ready yet but we are keeping an eye on them just like we you know I looked at coffee for the first time and actually I told the folks this is where you want to be buying coffee it's up a couple cents today but it was a perfect day BCD I showed you on the show here yesterday it was a perfect ABCD pattern and now it started to move a little bit higher but everything's moving higher today because it's not you know in fact like we mentioned everything is green up there I mean like I said the only two things that are down are heating oil oh natural gas is down just a little bit too and then also like live cattle in fact natural gas is set up for a really great buy here in the next day or two I think in the next day or two looks like a lot of things are coming together on that but we'll discuss that on tomorrow show by the way tomorrow's show we will have norm winsky of astro trends he will be our guest and he will give us some really good information like we wanted to have and remember the big day that Stan was talking about was July the 15th and that's we're in this zone here we're just about anything can happen and it usually does but he'll be with us on Monday and take a look at it and when we get back I want to talk just a little bit more about the US dollar and I'll get that chart that I wanted to show you updated here so bear with me and we'll see what's going on the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market the us futures market and the shanghai gold exchange the gold report tom obrien 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 obrien's gold report newsletter now at tfnn.com everything in the universe is governed by the fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the fibonacci 24 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 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with expert hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com okay folks i posted the chart here of the us dollar index over the last seven trading days and i wanted to point out something to you that's relatively important to me uh tom hughard happens to be a very good friend uh that's understate in the years like my son anyway here how is here is how he trades folks when the market breaks support like this he starts pushing and pushing and pushing as soon as it starts breaking support breaking support breaking support and he just presses and presses and presses very very few people can do that uh he does it in a way that just literally is it's absolutely scary now tom is only right on about 28 percent of his trades and yet he makes more money than any of the traders that i work with myself included by multiples because he presses it when it's moving either up or down and you remember he's only right about 28 percent of time but stop and think what's happened here in the last few days on this big move and you know there's no limits on foreign exchange so you know he can really press that and that's exactly you know what has been happening and and what he's been doing so someday we're going to see something like this in the stock market and i'm going to be ready for you and we did okay in the gold market on the way down we did pretty good on the way down did pretty good on the way up and we've got jeff huge is on the line and jeff was scheduled today oh my gosh jeff my friend i am so messed up over here my calendar the problem is jeff i had my calendar on june and this is july they tell me that that june is over is that correct that's right god okay why don't get about me right no i didn't forget about you i was just i was doing so many things and i i you know i had so many things happening today with the currency markets and gold and uh you know the grains and everything that i just literally uh just got busy and i forgot to tell al it was my fault so you think we could start out now and uh do you have the chart set up so that al can see him that you can put him into the room or do i have to do that i might have to do that i i think i'll be able to here's the here's that here it'll just take me just uh well i'll tell you i just uh just one of those days while you're looking i can just tell you a couple things that you know we've been looking at you know as you know we published our newsletter last saturday the 8th of july and it's got a lot of you know really great feedback from readers and one of the things that we've been talking about for a long time is how our expectation was for a recession to begin around the end of the second quarter and and you know start to show its teeth in the back half of the year and of course we're seeing a lot of data right now with strong jobs and you know cooling inflation that suggests that well you know where's your recession jeff you're wrong and you know we wanted to give you guys kind of a sneak peek of what we uh put behind the fold in the uh in the report just you know what is driving the markets in the economy right now why things appear on the surface to be bullish when in fact underneath the hood things are quite a bit different wow you have a nice chart up here the current cycle and the strength of it well it's really it surpassed just about everything hasn't it's uh 2006 and 19 the dot com everything wow this this comes from yon hazias and golden stacks who uh put this chart together actually and it's the path of the fed funds rate hike cycle versus past cycles and as you can see this is the steepest and most significant cycle in the last 40 years and you know what has a lot of people scratching their heads right now is why is employment still 3.6 percent unemployment rate which is exactly the same as it was when they did their first 25 basis point hike in march of 2022 there's been no impact and the thing is monetary policy works with long and variable lags and you know we're just kind of anniversarying the very first set of 75 basis point hikes and at the end of the day you know if we think about the 12 month lag to the impact of the fed funds rate hike we're just feeling about 175 basis points of of hikes at this point by the end of the year it's going to be 450 basis points and a year from today it's going to be five and a half percent wow that's this truly amazing the amount of money that's out there it's got to find a home someplace they don't stop at my door very often so i have to wait and see what's going to happen but this is the next one's interesting as you're saying you know if you uh if you were wise enough to uh to take that $1400 check that the government send everybody and stick it in the s and p 500 when you're received you would have done pretty well for yourself uh i bought a half i bought a half i bought a gold coin yeah there you go a lot of gold coin that would have been perfect um you know the uh the five trillion that was pumped into the economy didn't all happen on one day that's the other thing that people don't really realize is that you know it takes time for five trillion dollars to to dribble into the economy and so what we're seeing is really the residual effects of that five trillion dollars in in programs that uh the government and congress put into effect between you know mid 2020 and late 21 with the most recent uh infrastructure bill and you know that infrastructure bill is going to take 10 years to really kind of dribble out into the economy so one of the reasons that employment's remained strong despite all this monetary tightening is that you're kind of battling it's an arm wrestling message between you know fiscal stimulus and monetary tightening very very very interesting what about the you have a neat chart here on insider selling what are you seeing here well i'm seeing that insiders are starting to recognize the uh implications here in the back half of the year and in fact this is one cohort of uh of traders that you don't want to bet against they have better information than you do there's no question about it and much more timely and when we see the insider transaction ratio at this level which is actually the second highest it's been in 15 years uh and just below the peaks that were achieved in uh january of 2022 right now sales there's 33 sales by insiders for every buy that is an extreme and the point is that you know insiders sell for a lot of reasons but one of them isn't because they expect their stock to go up um you know at the end of the day you see this level of selling by insiders because they're starting to see the impact of this monetary site tightening cycle and the end of fiscal stimulus starting to kind of come to fruition and uh my expectation is that it's going to sink its teeth into the economy in a big way in the back half of the year wow that's a really cool i i don't know anything about insider trading let me ask you a question about this because i don't know anything about it uh how do you know an insider is selling do they have to report that they have to report it yeah they have to file form for uh for options and uh a different form for uh just an outright sale and what we're doing is we're basically um you know this is on barons they track this stuff and it's published in barons every week uh but you know all these collective sales to buy i think there was a total of 367,950 or 67,950,000 shares sold and only 11,137,000 shares bought so that's how they arrive at that ratio okay the next chart is one of my favorites this is city corp and uh well i can tell you stories about this one that hey let's take a break here jeff is with us alpha insides we'll be right back you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave the chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices get the opening call newsletter by basal 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 looking for a way to consistently add winning trades your portfolio tom obrien is here to help tom obrien has been successfully trading markets for over 30 years a frequent contributor to td ameritrade network and cnbc tom obrien founded tfnn over 20 years ago to help educate investors just like you tom's daily market newsletter market insights is published every morning when the market's open to give you the competitive informational edge you need to succeed these newsletters are packed full of tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio get tom obrien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at tfnn.com tfnn educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade lab u or lab d directions daily s and p biotech three times bull and bear etfs visit directioninvestments.com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-476-7523 the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principle the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services llc this program is brought to you by vista gold traded on the nyse american ntsx under the symbol vgz folks with jeff huge of alpha insights and we're going to take a little bit of a gander here of city corp i remember when it was making that high up there and uh well i had my well i knew somebody there and he told me the stock was worth about ten cents on the dollars what he said it's that's with the reversal it seven yeah i know it's at a point it has it's not rallying at all so i knew somebody there too and that guy was me i was in a senior level position in the capital market at the time that this was all going on and uh so i remember it quite well larry and one of the reasons i wanted to kind of show this chart and i entitled it lessons from city group more like warnings from city group what we saw off of that way they down low you know that was the the tech rec low you know the 2000 and too low and in the market more than doubled off of that lowers up more than a hundred percent and a lot of people are saying well hey you know the s&p's up more than 20 percent it's a new bull market oh gosh city group more than doubled and it retraced the fibonacci 89 percent of that decline before it stopped in its tracks and reversed and dropped from a one for ten reverse split of five hundred and eighty dollars down to seven cents a share before it stopped falling now but let me also say this that um you know this stock actually never traded at five hundred eighty dollars a share because the one for ten reverse split was when the stock was trading at five dollars a share or one dollar a share i take it back because the problem was institutions couldn't buy it and so they had to make it you know above five dollars so institutions could could actually buy the stock and get it back up but you know one of the things that i really am am taken aback by and this is a 33 year chart and it's a daily chart is um you can look at the 200 a moving average in in red and it turned up and was trending higher right all the things that the bulls are pointing to in the s&p 500 today as being evidence that we're in a new bull market and i titled my my newsletter last month look a bull market it almost looks real right and that's because it almost does look real second waves and b waves are designed to suck everyone back into the market just before the trap door uh flicks open and i think we're at that point right now where the market is near its its wave to peak in this particular case but it's also tracing out a wxy double zigzag and so you know people don't understand that when the music stops there are no chairs available this is you know the market could effectively see the trap door open and the bottom fallout and that's our expectation for wave three down well i agree with you but you and i are the only two because there's hardly a bear out there anywhere but it just looks a real suspicious to me this next chart don't i know it this next chart is the one that has a lot of interest which is the s&p of course the nasdaq is is just totally unconscious it doesn't ever ever back off and i guess it's because of artificial intelligence or whatever they want to say but uh this to me that people view this as being bullish but you know of course i was bearish here before the last run up too so you know i don't stand in front of the train today's the day i stood in front of it for a little bit but i was selling the dow jones because it was that you know it didn't do anything all day with the nasdaq epa lot and the s&p epa lot they you know the dow jones is hardly up at all and so that's the one i was looking to sell and so far you know it's not got a little it's got some profit but that's better than being in the s&p or the nasdaq police continues didn't mean to interrupt go ahead no worries um you may know that tomorrow they're going to announce the re re-weighting of the nasdaq 100 index so they're going to rebalance it currently about uh seven stocks count 58 percent of the index's weight and um a number of those stocks are double digits i think microsoft and apple are over 12 percent each in that index and so they're going to cut those back considerably i think to about four and a half percent that's going to have a big impact now the weightings will be released after the close tomorrow and then the actual rebalancing will take effect on july 24 so i think between those two dates you could see a lot of selling of some of these big cap names that are going to put a lot of pressure on the indexes and that kind of dovetails perfectly with our view of the market broadly speaking s&p 500 we think that that wave y of that w x y uh sort of pattern that we've traced out here is coming to a head with today's move higher as you know about a month ago we kind of raised our target to 45 34 which is the 78.6 percent retracement of the bear market decline of 2022 and that comes in also at a point where wave y and wave w are almost perfectly equal and so as you know when you get those those two particular uh you know legs of a of a uh you know a bcd advance you look for equal equal swings right and that's basically what we're coming up on is an equal swing and that comes into play at 45 13 the 786 retracement 45 34 and then also at 45 25 there's an open chart gap that'll be filled so i think all of those are kind of like a magnet for prices right now and i could see this sometime between now and you know early next week uh you know kind of putting an end to this and once that occurs i think you're going to see exactly the same thing happen to the s&p 500 that we saw happen with city group back in 2008 i think the bottom is going to fall out and i think primary wave three down will carry the market's price down to new bear market lows that are significantly lower than what we saw in october our minimum target right now is 26 25 on the s&p 500 and uh we we actually had to lower that target it was previously 2750 but because the market moved up higher than we originally expected when we came up with that first target we had to put a 161.8 extension off of a higher price that got us down to 26 25 on the s&p 500 as a minimum target for primary wave three down wow that's really great now tell the folks about the free newsletter that they can get please uh how they can reach it you bet you just go to hugeinsights.substack.com and you can sign up to get my monthly newsletter we do give you a pretty good preview of the newsletter for free the next publication is due out on august 5th the last publication is also archived and you can take a look at it that came out last saturday and again it's got a lot of good information in it below the fold and so if you want to upgrade the paid and see the entirety of our our review of you know the first half of the year and where we think things are going and how we're positioning on the market right now um i would upgrade the paid you can do it for as little as $12 a month i mean what do you got to lose give it a try right you can also find out more about our work at our website that's jwhinvestment.com or you can follow us on twitter at alpha underscore insights we put a lot of nice free content out there as well that's really great jeff and by the way folks uh he is long certain stocks too he's just not totally bearish the market he's got a long positions on because i've watched i've watched him perform in this market because he buys things that uh he gets signals on and that's why he gets such a great track record and you only write about 30 percent of the time but my god what a return jeff you're doing a great job i mean that's their market numbers yeah well that's uh i'll tell you you're doing really good when you can do that kind of act activity on the positive side in a bear market my god if it ever does turn down you'll you'll knock the socks off of it so hey this we want to thank you for being our guest today and i'm sorry it was a little bit late but i was doing so many things today it just uh i had a note written down here and everything and i had it all messed up so thanks for calling in it really helps always a pleasure you bet jeff huge folks alpha insights we'll be right back eight seven seven nine two seven six six four eight if you're looking for potential trading setups in the 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enough about the stock market i'm going to post the charts for the euro and also the british pound the british pound was up there first there's the euro you can see we just got up to the 1.27 expansion here the problem is that with this really strong move like this we could easily go higher all it's telling you here this market is extremely overbought and it's also reached the price objectives based on a b cd so it may not be today may not be tomorrow may not be next monday but boy pretty soon in here we're getting ready for a pretty significant correction i would think we've seen it in the british pound i posted those charts on the monthlies that we're doing exactly the same thing we've done the other three times this is the fourth time we're doing it we've done it and that goes back 11 years so pay attention the same thing in the british pound with just about a point about a half a point to a point away of a pretty good correction in the british pound and you know we've been bullish these things for a while but now's the time you want to take back and take a deep breath and say hmm how much do i have to risk to see how much higher it's going to go and that's the whole key it's not how much money you make it's how much money you don't lose don't get trapped in a trade folks because you think it's going to go down because a big loss destroys the trading soul and if you have to get back on the horse learn what you're doing first because i've made these mistakes before but you don't do them second time or third time or fourth time wait till your time comes you can understand what's happening in the market and you're going to be a hell of a lot better off because once you can do it there's no feeling in the world better than know you can beat this thing every day you won't beat it every day but you know that you can beat it every day and you will beat it more days and it beats you and that's the whole key to what we're doing here at TF&N thank god we have Tommy O'Brien and his dad you're giving us his venue to share this information with everybody so live every day in an attitude of gratitude and may god bless and we'll see on the flip side tomorrow with Norm Winsky as our guest