 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 our guest today will be Jeff huge of alpha insights tomorrow. It will be Adrienne toga ray Trading on target Tim boss will be with us later in the month now I do want to bring up the charts of the under the first one Of course is the footsies you can see that's been up at this high level for quite a while evidently, mr. Johnson has made it through his first Sequence of votes or however that works over there and then I've also posted the chart of the German Dax As you can see this one is in a decided downtrend Things are not as good in Germany as they are in England I guess but you can see this thing has been in a lower thing. We just made an ABCD Pattern here today. I want to I've got a sequence of charts that I want to cover today Before Jeff gets on one of them comes from our friend Andy Pancioli over in the UK It's about the cycles that are related to Disease and stuff and I wanted to bring this up so you can see it that there is a hundred-year cycle here That this is posted in the foundation for the study of cycles and as you can see it's been pretty accurate Almost to the year and of course you can see where where covert came in so whether we have to wait another hundred years I doubt it because there's also cycles of viruses that appear That are in there also, but these have nothing to do with investment poke folks I just bring them to your attention for a general overall stuff I I basically do a few little simple things at worth that work relatively well And that's what I try to do I want to share this really nice chart here from our good friend JC parents of all-star charts We'll get this up here so you can take a quick look at it in here and we'll get this up This happens to be the relationship between the Dow Jones Transportation's and the Dow Jones industrials This was the work that Richard Russell used to do many years ago when they had the Dow theory Of course Dow theory was the king of the hill at that time, but you can see here We've been in lower tops here for quite a while and for a long period of consolidation You can see the same thing with the Transportation's so Whether this is rolling over or not I don't know the one thing I do know with a pretty good degree of certainty is that low that we made on the 20th of May is Extremely extremely important what I want to go through now is what happened yesterday Because I which we were talking about this market yesterday, and I wanted to bring to your attention You know what we were looking at when we were watching it So if you'll give me a second here, I'll get it up here And you'll be able to take a look at it because we're going to follow through today to see how accurate it was for today Now here is the e-mini S&P for yesterday You'll notice that the load that we made here was a 78 percent retracement The high that we made here was a 78 percent retracement folks We were on the we were on live yesterday when we made that 78 percent retracement I pointed it out not that it meant very much. I didn't say sale I didn't say buy I just pointed out that's all I wanted you to do was to see it But what I did point out was to watch just in case You know something would happen that we watch all the time Which is nothing more than that strong trending market and the 382 retracement and if you put this up here You'll be able to see that's what we posted yesterday And you'll notice that that was the high for the intermediate day up there at 41 44 We went all the way down, you know quite a bit lower And that's what I wanted to do was to go through the sequence of events of how these things actually work now Remember when you're trading the S&P 500 folks You're trading some oh excuse me You're trading something that has a margin requirement of just about hold on one second We'll get this up here so you can see it. It's around 12,500 and you're controlling about $200,000 worth of stock for that as I recall I'm bringing this up here to say it so you can see now the multiple ABCD patterns over the last few days That's what we're looking for now with the and you can see the little one in between here You see the smaller one comes in right where the low is there's one right below But there's a whole bunch of patterns coming in here So you want to be expecting a possible rally because if the market can go up to the 78% Retracement and stop and come down to the 78% retracement and stop. Why can't it make the ABCD pattern? Well folks the reason why I do what I do Started back in 1976 when I went to work for Drexel berm I knew at that time that I could beat the market. Could I beat it all the time? Most of the time yeah, I can't and I did really well for those years I was with Drexel and dental case it's in but anyway I knew at that time I would be able to do it stop and think of this folks if you had a hundred thousand dollar account Which is not a not a large account anymore, but it's if you had a hundred thousand dollar account and you averaged $394 a day on a hundred thousand dollar account folks. That's a hundred thousand dollars a year now You're not going to be right All the time let's say you only write 60% of the time so that means on a hundred thousand dollars account You're going to make sixty two thousand dollars now. This is short-term trading I realize that but I believe that it can be done and I know that it can be done because I've seen it done And I'm watching it being done So it can be done just to have to learn how to do it and practice it a little bit But these numbers, you know, they're not they're not very They're not hidden from anybody. They're right there in front of you now after you've had a big move down like this Like we've just occurred right here. We should be looking for something that would give us some type of a rally Okay, so guess what happened today boys and girls you're going to find this really hard to believe but Here comes the old 61% retracement again here I don't know where it is now, but there's where we were today We went right up to the 61% retracement boom and look how quickly we did it folks We almost match what we did here in a day and a half We did that in a matter of an hour or two. So this is the real key here If this can hold this level and go higher It's got a really good chance and it has a good chance because this is some major major two-day move here So it's got a chance to go a lot higher See I couldn't sell the 61% retracement on this even though I was watching the listening to the beepers go off as it occurred Because the strength of that trend tells me Danger just like we had right over here. You see this day right here That's danger when you see something like that So you got to be really really careful because the two things that patterns fail on our gaps and wide ranging Strong trending markets and that's exactly what we've got here with the S&P Today so those are a couple of things that I wanted to bring to your attention and the reason why is Tom will Brian is going to be giving his show here on Friday There's only three more days to subscribe Tom knows these ABCD patterns and stocks and commodities like the back of his hand You want to see how the master and the book writer of timing the trade? Go watch that seminar. It'll be worth every penny of it and I think you'll enjoy it You know very very much. It's it's going to be very exciting for you No matter What's going on now have to share one other that is really really super super important here And that is the same thing that we're looking at here in this e-mini Boy, this time goes fast and it shut the front door and raise the rent Okay, now here it is over the you can see our low that we made back here on the 20th You see that was the big low right here There's the first ABCD and we went through that like it didn't even exist to see that look at this This is the key level folks 4060 in the Spoo watch it it means a lot three eight two eight seven seven nine two seven six six four eight Time of booming inflation we are purchasing powers eroded. 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Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices Selective stocks and commodities subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman Wave The Chapman Wave up-down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices Get the opening call newsletter by Basil Chapman 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 Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 Finishing it number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge With anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering Probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's 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 Full-free at 1-877-927-6648 internationally at 727-873-7618 Okay, we're back folks I'm gonna shift gears here for a second and move over to the bond market because We finally found some support here in bonds as you can see here over the last two days Monday and Tuesday We've made a 78% retracement of the low that we've made back in here You can see the beautiful abcd pattern Just going right up to the exact 382 and then the gift that keeps on giving it just keeps dropping and dropping But we are seeing signs you know no market goes straight up or straight down and this one's been down for quite a while So we're due for some type of a rally remember the long-term 382 of this bond chart that we're looking at here comes in at 144 and we're looking at 138 today. So 137 today So I had that could you could see a seven-point rally in bonds and it's still be Incredibly very very bearish. So let's remind ourselves of that now the next one that I wanted to talk to you about I think is pretty important and it's the reason why I put out these videos folks This is a the chart of the crude oil Related to the gasoline contract and gasoline of course is in the news because we're approaching $5 a gallon and we want to be able to try to find if there is a possibility that maybe this market Could be getting a little bit overbought and as you can see here, you know We're trading at the seventy eight percent level here in the crude oil up around the 120 level Whereas the natural are the gasoline has gone way above the old high and we're up around 430 I believe now at 454 in the natural gas in the gasoline contract that is going to be a Considerably important number to look at the main reason is it's a 1.618 expansion Now what I try to do and I do this in the videos I do it here at TFN in on my radio show I don't do anything anything fancy. I try to keep it as simple possible So what I do is I start watching the relationships of these contracts between the gasoline and the crude oil So let's just look at it from yesterday because this is the same pattern that we've seen in gold and S&P and and all the others They're they're they're not any different because if you if you gave someone a chart and took off the X and Y axis And they didn't know what the price or time was they couldn't tell you what it was nobody can do that I watched John Murphy prove that you know and that's why I remember it and that was back 25 years ago Down in Dallas, Texas by the way folks. I've had some setbacks Family-wise, I mean not immediate family, but very dear friends one of my very dear friends passed away Gonna have to be attending a service here pretty soon Second one was a very dear friend of mine my poker playing buddy dark dr. Larry Leslie He's not doing too well with his health and then my very very dear friend One of my best trading buddies had a heart attack He's doing well, but he's being monitored and he still wants to trade while he's on the heart attack and I Doctor said you must be I won't use the word that starts with an F and ends in G nuts But his wife finally took the cell phone away from him and turned off the computer So he's he's watching so proper's I guess but he's doing okay But he loves trading and he does well at it and that's what I'm looking at Let's get back to the gasoline contract This was the high that we made here on Sunday night and all I mentioned was watch for the first ABCD pattern Now this is just a 15-minute chart and as you can see it makes a beautiful ABCD pattern Right at the 50% retracement and the market goes down and makes an a b CD pattern right down here now if this is a bullish market, that's gonna be a buy Guess what boys and girls it was a buy and the way it goes to the upside because we're still heading above $5 getting ready to see $5 gasoline is is what I believe because we're fit for 34 right now That's a very short jaunt Our gasoline here in Tucson has only gone up about six or seven cents in the past month But you know the gasoline prices have gone up 30 cents so some things not quite right with that picture but That's just a very small sample size because other places have gone up even you know greater greater than that So I I think we've got to remember that this is not about how much money you make boys and girls It's about how much money you don't lose now just off the beaten path here for just a minute. I had several people Talk about the fact that how I met Sarah and the chart of AIG and the three drive to a top pattern They thought that was a really funny story that I made up folks I did not make that up It was a Northwest airline and we got off of the on the lounge and I showed her that chart She got out of the stock it went from $72 and three quarters She got out of it at 72 and a quarter. I believe it it went to 33 cents and it split 20 for one You know it's still not very much You know just like some of these other stocks that have done some of that kind of stuff. Anyway, it was all true One thing my grandma told me it's just like you remember Dr. Pepper folks If you tell the truth of ten, you don't have to remember What you said it two or four and that's the truth I mean really you got to be able to try to get sure I BS with a whole bunch of people Yeah, and I stretched the truth just a tiny bit But I don't alter it very much and I exaggerate terribly, you know if I say seven It's probably you know three or something like that But when I get down to these charts charts don't lie folks That's why they're so beautiful you got two choices. They go up. They go down They go sideways and you can measure what they're doing. Okay, but that you can't hide and that's why I'm not a fundamentalist I don't believe any of the stuff that's out there. I really don't I mean I listen. I've watched it in wheat I wait here. You've been through all this. I don't have to give you that stuff I I just get away from it You know, I know that the fundamental stories are great and that's wonderful and everything But that's not where my forte lies folks I know how to make a buck on these darn things and and I'm good at it and I And I'm not a I'm not embarrassed to say that I'm good at because I work 60 years to get here, you know But it can be done It's just that you got to be able to do it and do it consistently and are you gonna have bad periods? Absolutely, you're gonna have bad periods, but besides the bad periods are gonna come really really good periods You know that so I see you're in here BV. I hope you're feeling okay. You better be on your heart monitor One of our friends that's just had some some might well not minor, but he's gonna be back Oh, you better take more time off than that Baba Okay, let's move on to one of the questions that someone else had about yesterday's show when I was talking about the The price of gold and where I thought the price of gold was going and you know we talked about the 382 in this that came in at the 1878 level that was a 382 on the weekly we broke 40 bucks a little more than $40 to the downside Still trading about the whole 25 30 dollars lower, but as long as we don't get above 1878 folks I think we're looking at 1698 to 1688 in that gold contract. That's down 160 dollars That's a lot. So let's keep a very very close eye on that It's going to be really interesting one, you know to pay very very close attention to One of the other things that someone asked me about was the long-term projections That the Elliott way people have talked about for quite some time I'll bring this up because I saved it because I thought it was a pretty good The way that things lined up you can see that they all related to the pie that we look at You can see these relationships that we had up here I know he the way he does accounting and stuff might be a little different But the time sequences between the years of the Fibonacci numbers, you know 13 8 21 All those lined up to come in right around January and maybe that is the major high I think that it is and the market's telling me that it is. Let's stay tuned to Jeff huge alpha insights He's always got great stuff. We'll be right back boys and girls If you want to take advantage of this sector now is the time to subscribe to my gold report The gold report is a comprehensive look at the metal sector as well as the markets that move gold Which is the currency and bond markets new subscribers get a 30-day money back guarantee So you have nothing to lose every monday morning. I published the gold report with coverage of gold silver bonds the xa u Gdx as well as more than 30 different mining equities To see for yourself the types of profitable trades that are recommended within the gold report sign up now by visiting tfnn.com don't miss out on the next great gold trade sign up today Tfnn has just launched their new trading room the tiger's den hosted at discord Tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours And now they are expanding their reach with the tiger's den available to all tigers and tigers for just one dollar for the year There's no cash or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o bryan and the other tfnn hosts while they analyze charts during their live tiger tv programs And join an interactive trading community with hundreds of members exchanging ideas Interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day Even at night and on the weekends the tiger's den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of tfnn.com Tom o bryan has just announced a live timing the trade webinar friday june 10th from 9 a.m Until 2 p.m. Eastern time join tom o bryan for five hours of live education as he teaches you his trading methodology Right from his best-selling book the art of timing the trade your ultimate trading mastery system in this live webinar Tom o bryan will be teaching you his entire trading system including quality volume abc structures Fibonacci confluence zones cause and effect swing points and more We will be leading this class to 40 attendees So please do not delay and reserve your seat today for this special live event with tom o bryan All attendees will also receive a physical copy of his book the art of timing the trade an 88 dollar value Mail to you along with the free month of his daily newsletter market insights a $169 value for all the details and to reserve your seat today visit the front page of tfnn.com tfnn educating investors This segment is brought to you by think or swim for more information Just click the think or swim banner on the front page of tfnn.com Okay, we're back folks and we have jeff huge of alpha insights on the line jeff. How are you doing today? I'm well larry. Thanks for having me on the show today Oh jeff it's a double pleasure for me because I get to see the charts before everybody else does and I get to see them Twice for you to describe them when I look over these nine charts that you have I said where does it guy get the time to do all this? And I know you have a lot of it on file and you keep it updated and stuff But boy, you do a great quality or your work I I'm just uh, and you know, I've I've been around the Oh, this is my seventh decade of doing this So I've seen a lot of different stuff and yours is as good as anything I've ever seen jeff And I mean that means a means a whole lot coming from you larry. That's for sure Well, uh, I know we have a very strong competition and saying small in the wolf trader But between the two you guys boy, you don't miss a beat Why don't you tell us what you're looking at as far as these bear market rallies because Violence is their middle name. So what are you seeing here jeff? Well, you know a lot of people are complaining that you know, we're up 10 off the may 20th low Uh, you know the s and p made its high on uh, june 2nd But the e mini actually made its high on may 30th We have not made another high since And so, you know, I tell you that is a tell in my opinion And it just goes to tell you that this this is just a classic bear market rally If you look back to the 2000 2002 bear market, you know the tech wreck And then of course the great financial crisis in in 0809 Um, we saw myriad, uh, bear market rallies six in the tech wreck five in the Great financial crisis all of which were over seven percent Uh, and many of which were over 20 percent. In fact, I believe we had Three that exceeded 20 percent in the tech wreck And uh, at least one came in above 20 percent In the great financial crisis and so it's it's not unusual to get a double digit bear market rally, but You know investors should not be concerned about missing it Okay, they should be more concerned about using this as an opportunity to protect their capital That's really good to know for sure Now jeff the next question that you had up here that you've warned us about way back in late january early february About a possible major top formation in play and that that certainly looks like it's what's happening, isn't it? We we see a major top formation. It's a classic pattern top of the head and shoulders variety It has a weak right shoulder, which puts kind of a um a diagonally Downward slanted neckline, which when broken Actually counts to 3500 on the s and p which is an interesting level of support because it coincides with Not just the 50 percent retracement level of the entire rally off the march 2020 lows But also the 200 week moving average, which is a major magnet For these sorts of of down or drawdowns And then we've also been able to highlight two important weekly highs That occurred back in august and november of 2020 that marked a sideways consolidation period of some note And so I think the con the coalescence of these three support regions together Gives me a lot of confidence that they will be tested and I think in the very not too distant future Well, next one we're going to talk about. Oh, we have a personal a question here personal nature You don't have to Answer if you don't want to with a gentleman from waco, texas is asking. How old are you? I'm 57 years old Okay. Well, you're still 32 years, but you know that pales in comparison to your experience I've got nothing else to do. This is what I like to do Anyway, I didn't think it was anything too personal said. I guess he's around 50 is what I said So I missed it by almost one one year from fibonacci. So that's a good sign Let's talk about your wave count because you've had this pretty well figured out for quite a while So what are you looking on in the elliot wave? Well, I noticed that you put robert prector's chart up at the last segment that I would You know, I would definitely agree with his count that we put in a major top The question is what degree of trend? Okay, the major top on january 4th Is definitely a cycle degree high and that's what we've marked on the left-hand side But we're also entertaining the idea that it's a potential Supercycle degree high and we counted as super cycle wave three And so, you know, we're concerned that this decline is not just going to be your ordinary garden variety You know a bear market, but it's going to be something much much greater We see a cycle degree correction Initially that should take us down to around 2250 before we get, you know, any substantially prolonged counter trend move That could, you know, be considered to be, you know, a larger degree maybe cyclical bull market So I think we've got a big down draft ahead of us And what we've done is we've kind of blown up this final up move And the initial decline on the right-hand side of this chart And so we're looking at it more on an intermediate wave degree basis, you know, the move off the The march 2020 lowest primary wave five And you know, we think that primary wave five ended on January 4th And now we're in the midst of, you know, primary wave a down Of an a b c corrective Wave formation of at least cycle degree and we're very early in the in the process We've got a one two count followed by a one two of three There's five waves that will complete three So we've got three more waves to the downside and that's going to be pretty I think dramatic for a lot of people. I don't know that Many are prepared for this for what from what I read in the newspapers and see on financial media And twitter there just aren't very many people that are positioning themselves to protect their capital ahead of this I agree with that and now when you're seeing in the news with the cryptocurrencies I mean, they're just look looks like to me. They're getting ready to have a Circle the wagons over there because with the legislation and I I have friends that are in this Quite a bit in the currencies cryptos and they're these cryptocurrency exchanges now are charging Fees and if you're not active in other words, if you don't trade, they're still going to charge you something I mean, I and that's not a good sign either So I don't know much about that stuff That's for crypto and you know, we would advocate a short position in coin base Okay. Yeah, well, that's that's that's that that thing's been hit pretty hard for for quite a while. That's for sure Okay Yeah, well zero is eight. I've been to zero I watched that telemundo or whatever that thing was at Tele telegraph telewoman whatever that thing was went from 2.5 million dollars to 30 $2.35 in two days. That's what we call a bear market I I can't imagine someone What their feelings was like Jeff to have 2.5 million dollars on monday and on wednesday have two dollars and 35 cents I mean, I've had some bad bad days in my time, but that is just uh Whoo, that's a that's a real scary one in my opinion. So I hope I never have a stop loss, right? Yeah, well, I I remember 1990 I had all of my all of my retirement money during the years I was in Drexel from 76 to 82 I put all of my Bonus money Into into the Drexel stock as they said hey, this is a no-brainer and gosh it was I mean it really It really made a lot of money But I had everything in there and then when I retired well when I went to work on the floor I don't want to take your time. Forget this. Let's talk about your next one right here my friend That you're looking at this is the shorter term one. I which I really enjoy looking at this You want to tell the folks what you're looking at here? Yeah, so we're just trying to um Identify what the short term wave options are for this swing high And I think it's one of two choices. We've got a 50 50 here. We either made the high Or or we've got one more slight move higher to around 42 50 or so Maybe 42 33 and so, you know, I think that will mark the highest and very uh, uh, you know least I stay with us Jeff. We got a little more segment to go. Thank you We'll be right back with Jeff huge off insides folks Are you in the market for buying or selling real estate in the bay area? Including the surrounding st. 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It can seem impossible to keep up with all the information David white's investment newsletter the technology insider is designed to give you all the information You need to understand the technology that shapes today's markets and tomorrow's future David white has made his living staying on the cutting edge of technology His weekly newsletter will give you specific recommendations for value tech stocks As well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every friday with updates throughout the week You can get the technology insider at tfnn.com for only 37 dollars and 50 cents Sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer Try it risk-free today with our 30 day money back guarantee tfnn educating investors Are china a shares hot or not? If you trade china a shares now may be time to take a closer look trade chAU or chAD Directions daily csi 300 china a share bull and bear etf's china a shares in either direction Visit direction investments.com today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully Before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus Please contact direction shares at 866-476-7523 The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services This program is brought to you by vista gold traded on the nyse american ntsx under the symbol vgz Okay, we're back folks We're talking with jeff huge of alpha insights and jeff we have a question from one of our listeners And what is the smallest time frame that you look at when you're watching your elliot wave swings? I mean i look at an hourly chart, but i don't publish on anything You know shorter than four hours Okay, good. That's that's the question that you want to be answered in it's great Let's take a look at the s and p 500 internals That certainly doesn't look very good No, they're they're not healthy larry and let me just say that we have seen a nice recovery off the You know from the depth of despair of course with prices since may 20th But you know five-week moving average of the percentage of net advances You know while positive continues to hold below kind of that november march level of highs there And momentum is measured by the five-week rsi oscillator That's below the median line. We're in kind of a bearish regime there And we did not post a positive divergence, which would normally accompany a more sustained rally I'd also point out that up volume was only 15 percent of total volume last week That said the five-week moving average of the up-down volume ratio Is actually expanded up to around 4.75 But that would typically be the case Right before the market tops and we've seen that in the past where we've seen these big spikes up in that Updown volume ratio and it kind of marks the top. So, you know, we're concerned that We're putting in a short-term swing high here in this bear market rally And things are getting ready to careen lower and we got a big number coming out on friday the cpi report and You know a lot of people are looking for the number to normalize They're looking for things to come in much cooler than we've seen And i'm a little bit suspect on that because the ppi number has been 11 percent or higher for the last couple of reports and that usually takes Four to eight weeks to filter down into the cpi and so For my money, I would say that we're going to have a pretty hot cpi number Uh-huh You don't in other words, you're of the camp that you don't think this is transitory that this is going to be here for quite a while The inflation that we're looking at inflation's persistent That's really tough to get the genie back in the bottle the feds tried and tried and tried and failed But took boker to take extreme action and all we've heard is extreme talks so far We haven't seen any action We're you know under a hundred basis points at the midpoint on the fed funds rate right now And the talk is that maybe that could double over the next two Meetings the first of which will be the 15th of june You know, we'll see what happens here. I don't know that the fed has the guts to deal with this But we'll find out what they're made of I'm afraid they wake up in the morning wondering whether they have the courage to do some of these things because they pump this Thing and they have nobody to blame but themselves Plus everybody else that was involved So anyway, let's take a look at your investor sentiment is still quite pessimistic, I guess It is and you know every now and then investors get it right. Usually when things are really really bad Some people think that when you see this level of fear and pessimism out there It's a sign to buy and it usually is at the bottom, but in each one of those bear market rallies that we illustrated earlier Pessimism was equally low or I should say equally high in other words There was a lot of fear in the market and all we got out of it was a bear market rally That took the market eventually much much lower and so I would be skeptical of looking at You know investor sentiment data as a reason to get long stocks here I think that this will be persistently pessimistic Until we get to a point where the market is re-rated earnings and earnings are Still too high estimates are way too high. I don't think we'll come anywhere near the estimates that are out there Well, you can see what happened to target today I don't follow this stuff But the first thing I do in the morning is to check the CNBC And when all I make sure there's not been an assassination or an evaluation when they showed me what happened to target I didn't realize he did drop that much. I mean that that's a huge drop in that stock It really is and it's a well run company normally, but this was Yeah, I love it. I think it's really great Now I wanted to the next one We're going to look at is the value because you know, I don't do anything in that area But you certainly do you want to tell the folks, you know, how people gauge value with some of these things I mean because you stop and think at the stock it's worth two and a half million dollars on monday and wednesday It's worth 25 two dollars and 50 cents that that's a value reduction. I would think Right. I feel sorry for looking at the value index versus the growth index So you take the s and p 500 and and shave out the growth companies or is about Oh, roughly 53 of them that Approximate that pure growth average and then there's about 132 stocks that approximate the Pure value average and we're just creating a ratio of the two Value overgrowth and it had been declining pretty steadily for 15 years But we put in a double bottom over the last couple of years and we broke out in early december of last year And have really just taken off And what I noticed is that there's a very tight correlation of about 90 percent between 10-year bond yields And the value overgrowth ratio outperforming and if that correlation holds We've just seen another big uptick in rates back above three percent here again And my suspicion is we're going to see a quick catch up where value outperforms growth dramatically over the next weeks to months And you know, it should it should move substantially higher And so, you know, we think if there's anywhere to hide in this market It's being long value stocks and short growth stocks Wow. Yeah, this is really, uh Gosh, your charts are just spectacular. Jeff, I look at these and I When you look at them, you just explain so much. I mean just looking at what you're doing I hey by the way, I don't work for Jeff folks. He's just my guest You're just very you're just you're just very good. You're just very good at what you do my young friend So let's take a look here at the next one, which is uh, very colorful one looks like CNBC He's popped up on the list here. This is the sector leadership. So what are you seeing here? Well, if you've missed energy, then you've missed anything in the market that could be considered profitable Everything is down last week's no different Um, you know, it just seems to be a rotation of what's going to perform worse from week to week The only thing that has consistently avoided that is energy stocks and we continue to advocate energy And I think that there's a really good opportunity in Uh, the downstream area of Of energy and that would be like refining and marketing stocks A few that come to mind are a marathon petroleum philips 66 names like that That are basically gasoline retailers and they're benefiting from these big crack spreads that exist right now Because we're we just don't have the capacity to refine in this country and uh, you know, there's there's very very tight Distribution worldwide on refined product. And so um, you know the retail side of this business has is experiencing very very strong margins And demand is very very strong. And so you kind of got this double whammy in favor high oil prices high demand and reduced refining capacity Uh, that turn translates into very very high margins very very strong profits And that's where investors are are looking to capitalize on that because if you take a look at earnings revisions throughout the s and p 500 energy has seen revisions up 55 on a year over year basis where the rest of the market is negative So it's the only thing where earnings are going up is an energy and refining and marketing is leading the charge there right now Well, okay, jeff tell the folks how they can reach you You can reach me on my website or on twitter. It's www.jwhinvestment.com Or you can follow me on twitter at alpha underscore insights larry I just want to highlight with the shameless commercial here. We just published Huge insights the big picture. That's our free monthly investment newsletter Stay stay with us. Your subscribers are welcome to uh, subscribe to it on my website for free Stay with us jeff. 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You need to act on at any time First time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up Subscribe to the Fibonacci 24 7 newsletter today tfnn.com educating investors Okay, we're back folks. Jeff are you still on the line? I am. Yes Good. Good. Good. Tell the folks what you have for them. It's a special report and it's free I mean they love free. So and if it's a special report by you, it shouldn't be free But go ahead tell the folks what it is. Yeah. Yeah, go to my website www.jwhinvestment.com and right at the top in the middle You'll see our newsletter and you click on that you can go right to the newsletter We publish this every single month. It's on the website And you can subscribe and have it emailed directly to you on the first of every month It's absolutely free. Now if you want more if you want ideas, we got it We got a some feedback from a subscriber once you said, hey, Jeff, I love your research But why don't you just tell me what stock to buy and I'm like, okay, sure I can do that. So, you know, we have a big Institutional publication called alpha insights and we go through that and we find our very best idea every single week On Wednesday midday and we email that out. We call it our idea generator lab And so we go through everything we say this is the idea. It's a fat pitch, you know, Warren Buffett always talks about Throw me a fat pitch and I'll take a swing at it Well, we're looking for the fattest pitch we can find and we put it out there and and for 10 bucks a month You can get you become a member and you get four ideas a month So you get my best idea every week for less than a cup of coffee you cost at the Dunkin Donuts, right? So we think it's a pretty good deal and we've got I don't know A lot of subscriber members to this so people like it and I think you know, we make people a lot of money and we actually report our performance So you can see exactly what our performance is and it's totally transparent and you just give it a try That's all I say. It doesn't cost you much Hey, listen, thanks for joining us my friend We'll have you on again in a few weeks and keep up the great work and live on the green side of the grass and live in your dream Buddy, you're on the right path. Thank you. Thank you, Larry. You have a great one, too You bet Jeff huge folks alpha insights. We'll see you on the flip side tomorrow Our guests will hopefully be Adrian toga ray. So do something nice for your neighbor folks There's not everybody out there that's doing well