 The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, Larry Pezzavento. Hi folks, Baselchap and you're not Larry Pezzavento. I'm filling in for this hour. Larry's been filling in for this hour for a little while and I'm doing it today. Larry's going to be away for a little bit and I need a bit of a break. So I decided I had it. I came back just in time. I had to be out for a little while. I came back just in time together. He couldn't do the next hour, so I'm doing it. Here we go. We're looking at the Dow up 30. Let me go to this and I'll do the, I just did the two o'clock update. Now what we're looking at is this is the last two hours of the session going to the last two hours of the week. And it's kind of important to see what has happened this week. So I like to look at certain patterns that repeat over and over and over. And within that context, let me just do this real quickly. I had a request from someone in the den and we'll do this now because I'll get this done and then we can go on to all the other things. BCLI is, I think it's called BroadStorm Cell Therapeutics. Once it was $18 back in 2020, had a little bit of a plummet and came down to the one point, somewhere around the 1.40, recently it actually went to $1.09 in November of 2022. So I love to look at patterns that repeat. In the Chapman Wave methodology, what we do is we try to identify a low bar and then count e-successively higher bar and alphabetize them sequentially. ABCDEFG, the uppercase letters on the way up, lowercase letters on the way down, and on the way up, I have a lot more import to the notation. On the way down, it is important, but I really look at the technicals and the patterns. On the upside, once we get to that fourth highest peak, BCDEFG, other things can happen. That's as simple as what it is. It is just follow the wave count, peak A, peak B. If peak A has technical strength, it could get into B. If B gives even more technical strength, it gets upgraded to a buy mode. Buy signal to buy mode means that you should go to D. That's just the way it is. It's as simple as that. It doesn't always do it, but I'd say over 90% of the time it will get to D if the technicals are confirming the rally. That's number one. Now, I look at patterns, straight line up, straight line down, cup formation, arch formation, a mix of 1 and 2 and 1 and 3. On the way down, if there's an H pattern of sharp move down that it tries to run in, it fails at a peak A or B and takes out the left side low. It can go a lot low. Look just right here in the little bit that you can see. There's a peak E in this BCLI stock. It's the symbol and it comes down to trough A and then trough B. And then all of a sudden it stops. But look, there's this H pattern and it fails and went even lower. On the upside, if it's a Y formation, a green, reverse Y, it means if you take out the left side high, you can go a lot high. Then also look at rectangles. In the rectangle, you can get just a sine wave that just goes arch, cup, arch, cup, and it fails and you keep thinking instead of breaking the resistance, it just goes to the edge and then instead of breaking out and reverses down, you didn't think, oh, this is the one that's going to slam to the downside. It holds that support and goes back up again. Just a little yo-yo within that narrow sideways horizontal trading range. The other one is the large rectangle. Well, within the large rectangle, you can draw an arch, you can draw a cup. There are a whole bunch of things that go on. So now I'll show you exactly what we've got. Here we are looking at, let's go to the monthly chart first. Monthly chart has had a sequence of P, A, B, C, D's and E's and then it plummets. Look at that E goes to just about 18 and it slumps down to that $1 level. Now what we've got is that the MACD has started to improve. The stochastic is flat, but okay, 36 in the monthly chart. But look, that nine-bridge moving average is for the first time, I'd say the second time, it deflected lower, but this is the first time where you've got the continuous rallying of the unbalanced volume and the MACD to get the vertical line, the histogram of the MACD to possibly turn positive and the month is not finished. So I can only say at this point within the month of April, it is up fractionately 0.08 in the MACD. That's a good sign. So that's number one. So it's the first time in a long time that the monthly chart has shown that it has the potential for this being a leg A to actually either this month extend leg A or next month maybe go to leg B. That'll be very good news. That's number one. Your patients can last a lot longer than your patients. They start off as a wide one and then they can continue as a narrow one. Wow. Talk about that. Look, real time. Look at this. Here's the 10-minute chart of the e-mini. And the e-mini has gone basically from yesterday right there at 2.30, at exactly this time yesterday on the 20th, the high was right there across negative in the 9th period under the 40th period in the e-mini, S&P e-mini at 4159, which is 4148 between that and an hour later, less than an hour later the low was at 3.30 yesterday the 4, yes, 3.30 the low was 4137. Look how, even up until 10 minutes ago it was totally stuck in this range. It could not get out of the range. A long rectangle formation and look that even within that there was even another narrow one. I have a whole bunch of rules if you listen to my show, the Tiger Technicians Hour or if you are a subscriber to my opening call when I go through my overview on this on a weekend to give an overview wrap up of what's happened and what we're expecting the following week, I go through all these different patterns. Well, lo and behold the rectangle has just been broken to the upside which means two things. One is if you get to a DEOF above the resistance line and then you come down and you take out halfway into the rectangle which would be 4148 and start to close under that there's a real good chance you can go all the way to the bottom and maybe even take out the bottom support. But we've already been there once. We took it out this morning and just before 11 o'clock just as my show was finishing and then it started this big rally which went to peak ABCD this happens to be an E so this is with the MACD goods the CASTIC Flatted 89% the Rental Strength Index right there is moving up on balance volumes a little bit overboard but acting well. So this is the first time that there is a chance with an hour and 40 minutes to go that the 4145 make it 4146 level is now very good support on the day. You never know I'm just saying that's the way I'm looking at it and it recycled peak A, peak B, peak C in the one minute chart don't have to do that. I just want you to say we're looking at apples to apples long rectangle formation we went from a large rectangle formation the DCLI to a starting to become a long one but I'm taking this level right here of the week of the 4th of November 2022 of 366 as your resistance and so far to walk in the 9th grade moving average it's acting quite well. So the weekly chart says we're in a buy mode and so far there's nothing negative yet but this is the candle that you want to defeat maybe even going to there so that's 350 to 360 level I'll be back in a moment Basil Chapman this is the 2 o'clock the 3 o'clock show and I'm sitting in 1,000 up 31 luck to discuss as soon as I return currencies, commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe which is why it's a great time to try out Teddy Kegstad's Tiger 4x report. Teddy Kegstad breaks down the 4x markets every Monday using his 30 plus years of experience as a trading veteran of futures, 4x, stocks and options. 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In the Tigers Den you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas interact with other Tigers and Tigers as they share trading news analysis and discuss the market action all trading day even at night and on the weekends. The Tigers 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 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. 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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 Toll Free at 1-877-927-6648 Internationally at 727-873-7618 You have to be CLI this is Basil Chapman sitting in at 2 PM this afternoon on the 21st of April Friday so this is a little mini rectangle that I'll put in right here and I would just say to our friend in the den that if BCLI early, you need speed now it's got to break out with speed if BCLI is able to get to about 3.21, 3.23 preferably by Monday then there's a real good chance to try to make a double top going to the 349 346 level of the 3rd of April but in the meantime 260s to 2.40s is really that's the support that needs to hold I hope that helps you now looking longer term the MACD in the weekly chart is good the 90s over the 14th but the stochastic is only a 70% if at any point I prefer if it was in April it's only got one week to go sometime next week if it's able to rally enough and it needs to hold into Friday because I want to see that stochastic closer to 80 83% and that says okay now I can sustain the move hope that helps you next question I'll go through this real quickly here we go could I look at the commodities so here we are at 2 as I said 2.19 PM eastern time Friday afternoon here we go wheat does wheat wheat is trading the pattern that we looked at just now where I said we're looking at the H pattern but the H pattern has a formidable cousin and that cousin is the M so if you get this pattern right here and and so many charts have this I think I should go through a whole bunch of them right now sharply down and then it makes an H pattern three things one is if this log is taken out after peak A or a B fails if it closes under that it means that there's a real good chance at learning it halfway to the upside but it's unusual to close above the arch high on any rebound number two if it goes under but closes above it says yeah you could you could actually get to this arch high and yet again it's the same thing we'll sustain it if on the other hand it goes to that low let's call it a low 20 and it goes to 20 or it goes to 20.1 it means it's held it if it starts to rally and it can actually go above that arch and hold okay that's the rule of the chapter we methodology in the lower case H that goes to a lower case M whoops wait a minute lower case H and wheat this is a continuous contract does wheat goes right there makes an H pattern oh then it makes an M pattern but look that low back in early March went under it but it closed above it and then the next session it closed below it and that says yep you could rally but there's a real good chance you're not going to close above that pp what it spikes and it goes to peak A another peak A and because it made a lower low a trough E over here you have to start fresh you can't just continue the count and then it goes to a B and that B turns around and it makes yet another arch formation right there and that holds an F side high an F side low makes another arch right there and today's low goes lower than that but does not go to the low over there so this is a lower case H to go so lower case M and then a third H this says that it is attempting we just attempting to form a base in this area that if there is a close right here if there is a close under at any point six this is a continuous contract 654 round number low if there is a close under 650 it says now you've lowered the the resistance point and you've also lowered the support but it does go to leg G in the end that's a GCSE we'll watch it but if you look at the Eiffel Tower straight up straight down in week continuous contract you know you're looking at so many prices that are below or almost at the same level where covid started so this is telling us that there's been an amelioration of the sending of weeks there's been somehow we've managed to get through it but it's still a problem in terms of now what's the other way around there's a problem where it's before we couldn't get it now you're getting too much maybe if you're looking at corn soybean soybean soybean continuous contract made a peak C in the monthly chart it's in a rectangle formation there there should be a rally to a D at some point this this technique doesn't give you time other techniques give you time so it's stuck in the range and if you're looking at the oops if you're looking at the weekly chart look at that rectangle how long what's the rule of the rectangle a large rectangle says and it was a large rectangle over there that if it holds the base starts to make high highs and high lows you can get all the way to peak D under right on just under the previous high or just above and then be careful of the midpoint of the rectangle well in this case it's just been a steady steady move up went to a peak F and failed way below peak that was made the high that was made right here on the 10th of the weekly 10th of June and continuous contract 1597 and a quarter so it's been stuck in the range and it's still stuck in the range and it's saying I mean even a narrow range between 1536 and 1450 say and it's at 1482 right now and confirmation that says that the daily is making an arch potential arch formation and at 1482 the 1458 200 period exponential moving average is going to be really keen support and even if it rallies now I think it's stuck with 15 1510 to 15 25 very strong resistance and wheat sorry corn we got corn right now made a peak D in the daily chart it's pulling back it's got a pattern in the weekly chart that says this is a falling axe formation what is that that's another technique that I have you'll see in a couple of charts coming up there's a falling axe all it says is when there is a rally usually it goes through DEOF but when you start to make lower highs and much lower lows and then you start to form a base that base says if you can now take out the declining the upper declining trend line you can go one to one to the upside to retest that peak on the left side but the technicals have to confirm well lo and behold we went to this inside track repeller zone and we've been repelled every time once again being repelled in corn and the weekly chart monthly chart says ah you just stuck in a range same thing so we've got the grains holding very well but not be able to go much higher at this particular point so that and sugar had a spectacular move look at the sugar move sugar made a leg E today it reversed it's a leg C in the it's a leg C in the weekly chart and a leg F sugar content number 11 continuous contract and that I think is putting that that's putting attention on the prices of anything to do with sugar obviously we're watching the water be the key support now between is a 25 24.32 down 42 cents I would just say to you the whole area of 23 to 22 over the next month will be key support for sugar looking at LC which is live cattle I didn't finish that up I'll do some work in the break what was the other one CC oh Casey let's look at the CL through some of these when we get back and then I want to look at some of the stocks some of the indexes cows up 11 of these are five thousand sitting here for the two o'clock to three o'clock hour if you want to take advantage of this sector now is the time to subscribe to my goal report the goal report is a comprehensive look at the metal sector as well as the markets that move gold which is the currency and bond markets new subscribers get a 30 day money back guarantee so you have nothing to lose every Monday morning I publish the goal report with coverage of gold silver bonds say you HUI JDX as well as more than 30 different mining equities to see for yourself the types of profitable trades that are recommended within the goal report sign up now by visiting tfnn.com don't miss out on the next great gold trade sign up today sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with Tiger TV live every market day from 8 30 a.m. to 4 p.m. Eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds Tiger TV has eight different shows 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 are you looking for a way to consistently add winning trades to your portfolio 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 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 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 this segment is brought to you by thinkorswim for more information just click the thinkorswim banner on the front page of tfnn.com hi folks so let me just do this a couple of things came up but I'll do it right now so let me just say a high grade copper high grade copper you see the chapter we've inside track resistance level see this down channel the weekly chart it says that high grade copper is starting to have some trouble it was doing very nicely now it's coming right back into the range that's number one number two is if you look at wood the ice shares of the global global timber and forestry ETF also had a nice ready but it's starting to fail and this says internationally maybe internationally some of this there's a bit of a slowdown internationally economically and that's being represented by Dr. Copper and by the ice shares wood is a symbol of the timber and forestry ETF now let's get back to these so I was looking at live cattle so live cattle now one of the problems is that I do every single chart the thousands and thousands of charts that you see I do by hand daily weekly monthly whatever it is or the one minute five minute ten minute charts of the e-mini doesn't matter it takes me just a moment look the prices slipped a little bit because no the notation slipped a little bit because I do this by hand if it was automated it would say that's the distance between each peak and you can this way I have to redo it but this is a leg D in the live cattle continuous contract I believed in terms of looking at the summer months this is where you would see usually you'd see price let me just double check what I'm saying here there's June July yep there's the summer months a good rally last year June July it was steady there was a bit of a rally and now there's much more of a rally so going into the summer months and that's just saying that based on this particular technique now let me show you something in the monthly chart let me just open it up a little differently I'll open it like that here's the weekly so the weekly you see this these channel lines they should be at the bottom turns out the one the bottom has now become the one at the top and the notation is over here but look what happened this way G slash C alternate count then to D this is either an E or a brand you move to the upside of the weekly chart but it's broken from years of sideways action so cattle is moving sharply higher and these are the techniques that I use and look at the symmetry here if I do but I can't make this up you're looking at it as I'm looking at it here completely fresh look if I do bar symmetry from this cup formation remember all about cup and arch formations and straight lines like there it is there it is there it is it'll become even clearer now when I go like this and I go click new parallel I make it green now remember I'm not making any of this up what you're seeing is what I'm seeing it either works or it doesn't work but this is the bar symmetry that I love to work with bar symmetry move this over right you don't have to have any chaplain techniques you don't have to have Fibonacci you don't have to have anything you just need the price and you need a trend line or you need to be able to draw a line I happen to be lucky with train station but you could use a single line and lo and behold where does it stop it stops right there let me put an X right there so what does it do it gives you the time sequence that says in this particular time if the rally continues there should be a move that takes you to and name the level in this particular case we'll name the level of right there from the high this is a continuous contract LC on the 19th of this is a weekly chart the week of the 19th of February 2021 it hit 155 it's called 156 it says that by the week of February the 3rd 2023 now I'm not sure about you but let me go through this I would say 21-23 that's two points so that's two years and look what happened it went to that level right there it was four weeks early but it went right there to 156.25 and look what happened you got the double U formation right here there's just second U and even this could have been divided into that's where I would have put it but this is where it went so it was a little upside it isn't that nice technique and this I'll be discussing in a webinar as you coming up early May and just going to discuss some of these techniques and discuss the stocks, the indexes the commodities that I really like that I think are actually acting well where goals going what's implicit in the work that I do so this is a peak A look here's your lowest low bar so you can put an up arrow in there so there's peak A and all I do is lesser it it's simple and some people aren't able to do all this they just put a little dot they know what it is because they put different dots and there's your C and then what do I get, I get this pattern right here that says Chapman Way falling axe formation remember the one that I showed you with the lower highs and lower lows I called it the falling axe because it looks like a declining cone with a long handle and there it is and it says very clearly that I'm going to make it a little conservative and go to the top of that wick because there are candle highs over there that I need to hit first if live cattle continuous contract can get to it's at 164 if it can trade if it can take out 165.92 the high that was made that peak B of 166.275 the moment you go one penny above it starts legs C that's going to be very important right now the key support is in the one in the 162 to 161 area alright, look at coffee, CC is that coffee or is that cocoa continuous contract if I can actually see what it is I think it's cocoa yeah, cocoa so look at this, there's your D I didn't finish this, there's your E oh I had a question I said I'd get to it I wrote it down look at this, E I started at the 200 pre-moving average, it holds it it held it before, that was key support just above it and now it's gone peak A, B, C, D, E it's getting a little toppy but the technicals are still very strong A, B, C, D, E how about that and the weekly chart this is an E but it could be E-B because it could be a brand new move to the upside wait a minute could be C, right yeah, there it is so this is, that could be A this could be E-B F-D so you're already a D in the weekly chart and the monthly chart is just a single leg A to the upside, so cocoa is also on a tier to the upside let's look at K-C, which I think is coffee yeah, coffee coffee continuous contract went to a peak E-C the reason why I put the alternate count is sometimes the technicals are confirming and sometimes they are just a little hesitant so I need to say, I need to be prepared that at this point it could actually fall deeper if it takes out the high that was made right here in the continuous contract of coffee on the 22nd of February of 192.25 what's the low today? 190 190.16 so it's taken out I've got to be prepared that they might even though the technicals are good there might be a failure if it gets under 187 that's a failure, I'm going to call that an E and then it's a big consolidation but in the meantime it's had a very good move now it's consolidating that so, yeah so those are the questions, I just wanted to show you some things, now I wrote down let me see if I've got it in front of me of course it will never be in front of me because I've circled so many things here important up, up, up there, I'm going right there, right there, right there what is this TSLA sometimes I write so quickly and then I can't figure out where, okay questions came up about Tesla, so I didn't have a chance to do this I think I spoke about it during the morning yesterday or the day before but I had written drawn in the left side right, so there's the dreaded H pattern in Tesla there's the resistance of the 200 pre-moving average and what I did is I did a left side right side price time match to the 20th and that would have targeted at 165 bam, it hit that in today's training at 165.12 that's the same technique I was just sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice, sure but you also need excellent instruction from experts at TFNN you'll get advice and guidance from the authority in technical market analysis and it's not just dry, tedious text either TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV live every market day from 8.30am to 4pm eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds Tiger TV has 8 different shows 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 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 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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 foreside fund services LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ I had questions about Apple and JetBlue but I'll go there in a moment let me just show you something when I was speaking about double bottoms and double tops and price symmetry look at the dollar dollars down 10 cents at 101.74 right now look at this beautiful pyramid pattern straight up straight down and there's your plum line the midpoint at 105.88 on the 8th of March the low on the left side is on the February the 3rd 100.82 and what does it do it comes down get your chapter inside red target support line pink on the way dash pink on the way down green dash green on the way up and what does it do it comes right back down and three days late was a little bit late three days and then what happens it hits 100.79 and that was on the April the 14th April the 14th I'm going to put this thing because I keep talking about April the 14th so we've got 4 14 20 so and now it's trying to rally but stalling like this when the when gold is coming down I just think that the dollar has tremendous pressure the week the monthly chart I've still got a wait until the end of April but at this point I'm calling an alternative FSNESC and that corresponds to the UUP which we've been long since 2018 the dollar index so that has held well you see and even when we came down our entry point at 90.07 via the UUP in the 23s held we watched it go all the way to look at this we watched it go the dollar and let me just get back to the dollars since I'm talking about the dollar watched it go all the way to 100 and where was it $1 we went to 100 and since 2018 we went to 102.99 and then came back and retested but it retested and didn't take SR so we've been long and we've taken a little bits off but we've been long all the way through September 2022 the high was 140.78 and here we are at 101 yes it's starting to weaken quite a bit I can see it coming down I have to tell you something I consider the dollar to be the what used to be the Harley Davidson icon around the world you could say Harley Davidson or Louis Armstrong everybody knew exactly what you were doing about in America but at this particular point I'm still thinking that's the icon that represents the U.S. economy which is the strongest in the world still one of the strongest in the world and I think that's going to be represented by the dollar going high that's just my impression of things that are going on we'll see what happens there but here's your H pattern big one with a lowercase H so holding this 100 area is going to be really important and so we're looking at this a scan saying hey how come you didn't move up to the 103s rather than starting to 220 area okay so now the question about Apple so Apple I think that was more short term but I just want to say Apple has beautifully made a peak D two days ago and that is over the inside wedge so inside track repellent zone right here so so far this now was which was resistance is now support making the hundred and 159, 158 area is really important to hold 164 you can see the same thing with the falling axe pattern in the monthly chart that expanding cone if the dollar any week is able to close above 173 I would say that's a nice breakout in the weekly chart and that's helping the monthly chart okay but I think the question was shorter terms and let me show you something here you can apply this technique to anything because it's the same application it's human nature the chart is just a fractal of human nature it made a peak E in the 10 minute chart the E many if it takes out 4141 if it closes under 4146 in the next 20 minutes there's a good chance we can actually sell all the way down to 4135 if it holds it then you stuck between 41 say 55 and 4146 alright now let's go to Apple okay here's the Apple chart so you see this is that flat I don't like flat like this because it's making the lowercase H holding well that goes to a lowercase M I just grabbed the rectangle and I go oh until you can break out from this particular pattern you can stay here for quite a while this is a few hours already in the 10 minute chart but wait a minute don't we always look for peak D's let's just go to the last big move look at that 200 period moving average becomes support that's all you just let it sit there you don't have to do it you don't do anything when it gets hit or gets close you know that it becomes important peak A, peak B, peak C did I know this was happening no way on earth I just grabbed the chart sort from the first time like most of you 10 minute chart of Apple and low and low what did it do on the way up well 200 period moving average is extremely important look at this it held it before at 419 that was a couple of days ago the 10 minute chart and then it ran in peak A peak B peak C, peak D now this is what's called a chance of an instant restart because within 3 bars after D it made a new high a higher than D and therefore it says now you can have an alternate count you don't need to use it just keep it in mind that it's available and it says as long as the technicals are good that's what you're going to be looking at so it's got to the D this is an E right here E and there's your F and then it goes what it goes flat and what does it do it does a little mini narrow rectangle narrow rectangle can last a lot longer than your patients but be careful because if it pops up and then goes underneath the previous the base of the rectangle you can get a sharp move down bam it went so that's your analysis and what is it saying right now it says it's just stuck in a range there's just nothing to see here I find I lose the most amount of money if I'm trading by trying to trade the breakouts upside or downside I've learned over the years now step aside or you short when it gets to that level and you buy when it goes to that level and you can sometimes you can make as much in the balances up and down in one straight line but it's a little tricky because if it takes out your stock if it takes out that chain line resistance be careful because it can go quite a bit higher alright so apple right now I don't see a trade so we don't want your stinking American dollars what movie was that line in yeah I remember it well but I don't remember where it was from now that's the other thing internationally there's been a move that was moving away from the dollar but when something is so strong historically and I'm talking about not just over the last year or two for decades and decades and decades and dollars being the prime currency that's just not going to go away and you will find that even those that are going trying to go elsewhere at some point they might be forced back into the dollar or this is the big breakdown for the next rest of civilization where the dollar is done so I wanted to show you something else that just came to mind what would I do if I looked at this apple chart and I said oh my that look at that candle breaks down and then it's a huge green candle and reverses back up from the 200p moving average which before was fabulous propellant I grabbed that and I said aha if it rallies this is what I'm expecting that it would stall right here and I do a measured move from the left side to the right side and lo and behold is stored right there and produced yet another arch formation arch formation one arch formation two if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30 day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN.com TFNN Educating Investors you 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 Basil Chapman creator of the trading methodology known as the Chapman wave the Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by Basil Chapman in your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up TFNN.com Educating Investors everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the Fibonacci 24-7 newsletter at TFNN.com when you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis after all he's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from Larry on market movement you need to act on at any time first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the Fibonacci 24-7 newsletter today TFNN.com Educating Investors We've been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours the Tigers Day available to all Tigers and Tigris for just $1 for the year there's no catch or added costs when you join our community of traders Sign up today and become a part of this educational community of traders just visit the front page of TFNN.com So a special guest on CNBC Tom will bisect and dissect the markets The Tom O'Brien Show Next on TFNN This is a thousand times from being the two o'clock to three o'clock hour what we're looking at is remember I spoke about the large rectangle formation that if it sharply pulls back and then starts to make higher highs and higher lows it can go to peak A, B, C even the D just under right on or just above the previous high and then be careful if it pulls back and takes out halfway into the rectangle so what do we get we got in JetBlue this is the monthly chart back in 2020 February it starts from 2165 in two sessions it plunges down to the sixes it goes to 6.61 then it starts to move it goes peak A pulls back peak B pulls back and then peak C goes to where it goes to 2173 March of 2021 2196 the next month April exactly two years ago it goes above but it cannot close above the 2165 high that it made back in February of 2020 and then what happens is it takes out the halfway marker right here let me just do this halfway marker right there of the rectangle and lo and behold I can't make this up I have to do this in front of you I'm going from the low that was made in March of 2020 I'm going to the high that was made with a long-legged doji candle right there what did I say that was I think I said it was April right April of 2021 I'm going to that high and then I'm going click right here and I'm going to go new that's red this becomes green this becomes green and before I put it in I look at the left side high and I say okay I take a diagonal friend line oh that's the end of the show oh my goodness hey have a wonderful weekend everyone check out my opening called dating newsletter and the tumble brush should be up in a moment time flies when you're having fun look at Mr. by a few months going to the exact low anyway I'll be back check this out on Monday when I do my show with 10 check it out I do the things all the time have a great weekend