 The following is a presentation of TFNN. The Tiger Technician Hour with your host, Basil Chapman. Call now, toll-free at 1-877-927-6648. I'm Basil Chapman here on this Friday, the 17th of November, and now we're into the second half of the month, and what are we looking at? We're looking at a huge move in the doubt from the 32,000, 32,327 low of the 27th of October to the high of three days ago, 35,000. That's not 51, was it? Yes, 35,051. Just a sideways move. All that's needed is to go to 35,052 to start legs C. Now, what's really important about this is that the speed and the power of this, almost like a single leg A to the upside is suggesting that we're going to have to do quite a lot of analysis over the next, I would say, into Tuesday based on the action over this, I would say, all of today and all of Monday going into early morning Tuesday. Why? Because when there is such a strong move, and look at that little concept, like a propeller shaft almost got a one to one to the upside. You probably have to go to 35,000 to 80, 35,330 level to get that one to one to the upside with using this as a fulcrum, the propeller shaft midpoint. If there is a very sharp pullback in the next few days without going to 35,052, now this applies to the S&P. I'll do them parallel. So this is the daily chart on the left, the daily chart of the S&P and the daily chart of the Dow. You can see doji cantal stalling formation, usually that is either a halfway indicator like there, halfway indicator like there, or reversal point. In this particular instance, it's a stalling point. Well, that could turn into a propeller shaft for another move up to maybe the gap, somewhere in the gap to the upside. But look at the weekly chart, and that's really important. There's this chapamir methodology that I use called the falling axe formation. If I can just get to it over here, I think there it is. Meaning that it goes to a high, usually a D, E, or F has happened to go to a G, and then it starts to make lower highs and much lower lows. Then all of a sudden, it finds some support and makes this V shape or cup shape formation takes out that downtrend line, the expanding cone formation, declining expanding cone formation, and it can go one to one to the upside. Well, if that's the case, 4103 to the breakout level of, let's call it 4400, you've got another 100 points to the upside. So, let's just go one step at a time, because what's happening now is that this weekly chart has, and look at the MACDs, the casting, nothing here is very positive, except today's Friday, and there's a chance that today at four o'clock, that L means that you finally cross positive back to positive in the ninth period moving average over the 14, and that says, aha, go to the next high, which was the high of the week of the 1st of September, at 45, 41, 25, and then you can go to the next high. So you go step by step. So far, this is very productive. I just think that we're a little overboard. We need to see some kind of a pullback to see exactly the same thing again, the QQQ. Very strong peak A, then a little minor pullback goes to B, and now it's taking this little digestive moment. And this digestive moment says, hey, look at the weekly chart. Don't get excited about this. You want to be able to put it into perspective, and it says 342 to 387. I mean, a 43-point move is amazing. It was at 12, 13%. Well, look at the weekly chart. Now, the whole thing is this. I call this a gray leg A, and that gray leg A stays in place because the starting point of this by-mode was way back here at about 256. That means that this basically could go to an E or a brand new A. So what I would do is, if we went to 387.76 in the weekly chart, right now, I'm calling it a gray A, meaning, yes, it looks great, but it hasn't broken above the previous high, so it's still in a new phase. That phase changes at one point above that previous high. Let me give it to you. I think it's 98. So let's just check it's right here. Three, if I can just get into an area that I can read it. 387.98, yes. So that's 387.98. We've missed it by, what, 14 cents, right? 24 cents. 24 cents to go to a new high. The moment it goes there in the world, it becomes E slash, if it's this leg, it's the E slash A. E says, oops, be a little careful. You're getting a little toppy. A says, are you kidding? Every single decline must be bought because it still will have to go to BC and D. I go one step at a time. Let's see what happens there. If the MACD has crossed positive, that says, you know what? This is really positive. So we go one step at a time. IWM, I'll just do this quickly because I want to get to the currencies. I've been talking about that for three days. Very strong move up from an ugly day yesterday. 196 up at 177.75 in the IWM. And it's getting closer to retesting the 18.18, 200 period exponential moving average, which says then, now I can go to a new leg C. And that'll be a very positive aspect. Why? Because in the weekly chart, it'll start to tag and then try to break above the 200 period moving average. There's been a fulcrum for the up and down move all the time. And wow, this arch formation in the monthly chart is horrible. So to change that, at least you want to get another H to M pattern trying to get to the 196 area. That's a big ask. We'll see if it can do that. All right. Now I'm going to go to this. Just finished it off. Gold is down now four points. The silver contract, which I really had a way better move than gold is, yeah, again, I should call this an alternate count A-E. Just for the moment, I'm calling it E. I want to see what happens with silver. 2351 is the 200 period moving average. That's been its nemesis for just months. It's above the previous high, but the MACDs, good stochastics under 80% to 75, on balance forms a little overboard. Nine period moving averages above the 14. All of this is positive, but just to see what happens by about Tuesday of next week. If solvers can get to 2453 or higher, that's fantastic action. If it starts to pull back and goes under 2340, says, hey, I just need a bit of a breather here. Okay. I need it now to go to the dollar, DXY. This 200 period moving average. I mean, what a magnificent tool this is. Just put it on your platform and you'll see. You don't need it until you need it. When you need it, look at the magnet of the 200 period moving average. It went for almost a month, just stuck there back in August before the September breakout to the outside. Now it's back there. And it's had four sessions of hitting the 200 period moving average hasn't broken down. The stochastics at 12% to make these quite negative. So I must tell you, we're still long. We've been long since 2018. And we have little bits that we've taken off. We haven't added anything yet. We've taken, you know, something off just part of money management. I'm watching this closely because in the big picture, the dollar is the currency that countries want to go to still. It is really important. So I can understand that it pulls back and has all these gyrations within a trading range. I just don't think that that's it for the dollar. I do think it's going to pull back. So we're going to go through the other currencies. As soon as I return down to 24, it's going to be down to 5. It's going to be a solid nation debt. I'll be all right. If you're looking for potential trading setups in the stock market, then Rocket Equities & 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 & 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. 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. The Gold Report. As a precious metal, gold is still king. It continues to hold the most effective safe haven in 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 O'Brien publishes his weekly Gold Report every Monday morning for subscribers, consisting of coverage of the XAU, HUI, GDX, the Dollar, Bonds, the South African Rand, as well as 25 different mining equities with specific buy-sell recommendations. The Gold Report. New subscribers get a 30-day money-back guarantee so you have nothing to risk. Subscribe to Tom O'Brien's Gold Report newsletter now at TFNN.com. Free at 1-877-927-6648 internationally at 727-873-7618. Hi, folks. We're looking at the dollar. And this is the daily chart of the US dollar. And I'm doing a chapter of analysis. I was going to do this before and I thought, you know what, I'm just going to wait, actually, until I do this live. Let me just, I need to put the correct, it's right there. Okay. So what I like to do is if I look, if it's already gone this far, there's no use me putting the midpoint right there at that doji candle peak at 107.35 on the 3rd of October. What I then do is I look for a cup formation and I go to the trough. And that trough is right there. And then what I do is I do a measured move from that to the bump against, I call it the Grand Canyon resistance on the left and that's all the way to this low right here. It's about the 23rd of August. And then I do this and I just go click and I move this to the right and I can get there without changing the number of bars. And I say, okay, great. So this is green because it was on the way up and this is pink on the way down. And then I say, normally I've already done that. I would have done it over here. I actually had this, but I lost it because I had to close shut down suddenly so I lost some of my notations. And then I would go to the lowest trough and I just say, you know, that looks a little steep. Let's go to there and we'll just extend it out and we'll do this right here. So this is mobile eye, although I have a routine that I talk about for subscribers how I do this and when I do my webinars on this and this is called the chat wave inside track. No, it's not. It's called the inside wedge target support line. On the way down it's pink. On the way up it's green and I make a dash so you can identify it for what it is. And now if you look at it, this comes in right there. That's perfect. That's exact. And look at the way it held right there. It went under the 200 period moving average and it held. This says that by the 28th of November, this low here, the low of the 30th of August at 102.95 could be touched. The way I get to it is lower lows and lower highs is the lowercase h to a lowercase m in the chat wave methodology and then it broke down and it gives you the one to one to the downside. So we're watching this. However, the strength of this 200 period moving average, you've got to respect it. The moment you get close to it, it's like a magnet. It just draws the price in and then to break away from it, it's just so hard. Okay, so that's the dollar. And in the monthly, in the weekly chart, there's a peak B. And remember what I've been saying before is that it looks great on a short term, but when you put into perspective, this is just really a balance in the dollar because look at this. You weigh up 114.78. You've plunged down to the 1998 area, 99 and you hit the 200 period moving average and you ran up. And yes, you close above 105.88 for more than two out of three sessions. That shouldn't be very good, but now the weight of other things is just attracting the downward price. So the dollar is digesting these gains, but it's really been in a big digestive phase for a long time. Now let's just, and then the monthly chart did the cup formation. This could turn into a dreaded H because it's at an A and if it starts to pull back and at any time if the dollar on a monthly basis closes under 100, that's serious. But at this point it's just a really important, it's in the digestive phase within like a long rectangle. Now let's go to the EUR-USD. So the euro had in the monthly, go backwards, in the monthly chart went to a peak, see holding quite nicely, the pink nine period moving average is still negative, the MACD is good, the stochastic is at 67%, that's just okay. I didn't do this, I'll do this now. Look at this incredible Chatham Wave inside track repellent zone. Just two lines, it could have had one line, I put two in line, two lines in because I'd like to demonstrate it. If I saw it as one line, I'd immediately know that there's an inside track repellent zone. But the green says when you start to trade above it that's really important when you're inside you can barely make it and then you pull back, that's really not good. So the euro is just in a monthly chart says, yeah, it's okay, but it's been making lower lows and lower highs, nothing's changed there. It's still kind of stuck, all right? But wait a minute, look at this inside track repellent zone, pink, green, if I can remember, there it is, green and it hit it exactly, it's just amazing how this, how do charts know that there are trend lines? Well, I talk about the tide, the only way I can figure it out, I haven't been able to do it mathematically, but as a tide, the tide is gently going down so it keeps making lower lows and lower highs, but lower highs in the sense that it has a certain proportion to the upside before the tide pulling back says, it's going up, but now it has to pull back and now that was very positive, so it went to retest that left side high, it didn't and now it's come down really sharply, so this is going to be very important, why? Because at this particular point if all the aspects of the other, in the domino aspects if all the other or chess board all the other pieces of the puzzle start to crowd around the queen or whatever it is, you're looking at a situation where if yields keep coming down it should help gold. If that's the case Euro and gold generally go in the same direction not the same proportion, but the same direction so this move over the last week has been really good but when you put into perspective the monthly, let's just say it's okay, alright let's go to the weekly, oh I didn't need to do that, let's go to the weekly there you go click, so the weekly says chava wave you're always looking for peak D, there's an instant restart and the instant restart always suggests if it goes after that peak D, pulls back and then it takes out the left side low of that D, be careful because you've got a chava wave unconventional flat base restart procedure it's like Bart Simpson's hairstyle it can keep spiking up but it keeps coming down deeper and deeper and at some point it's going to take out this low and lo and behold it did the 1.0 0.048 was taken out right there or at least it was tested which is exactly what you'd expect now there's a brand new buy signal in price but at no buy mode the MACD is just about 10 positive it hasn't yet, so this is almost like a head and shoulders but that 200-period moving average it's been tremendous resistance at 1.101 is going to be the big test in the daily chart it's been a fabulous move up according to LAF it actually could be an F slash B because the MACD is still very strong on the stochastic is holding very well at 90% so that's what you want to see so the euro, dollar at this particular point has tremendous support in the 1.0 these numbers drive me nuts 1.078 is the 9-period moving average support and both the 14-period 1.0739 that's absolutely key support if that breaks going into the next 3-4 weeks that's going to be a big problem I just see it as a breakout here and that's really important all the technicals are good there's no reason why I shouldn't hold support and try for the 1.095 area and the 1.095 area gets you closer and closer to the 200-period moving average of the weekly chart wait a minute let's look at the USDJPY and that usually goes in the direction of the dollar I'll be back in a moment the Dow is down only 13 SAP is down a half I'll be right back 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 Forex report Teddy Kegstad breaks down the forex markets every Monday using his 30-plus years of experience as a trading veteran of futures, forex, stocks and options Teddy releases his weekly Tiger Forex report every Monday morning with coverage of all the major currency pairs including the dollar index, the euro dollar, pound dollar dollar Swiss, dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30-year t-bonds as they both influence forex markets tremendously when you sign up for the Tiger Forex report you also gain instant access to Teddy's 60-minute webinar archive which is just hosted forex strategies and fundamentals what is behind the Tiger Forex report 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 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 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 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 and you'll get a 30-day 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 Don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN.com then hit Watch Tiger TV that's TFNN.com then hit Watch Tiger TV a couple of things yes I will be looking at TLT and yes I will be looking at ELVX and yes a long rectangle formation can last a lot longer than your patients that's my expression well lo and behold look at this it's just this e-mini for the last since 9.30 this morning narrow training range off to a spectacular week and then all of a sudden big pullback from this morning up to the 45.39 area excuse me down to 45.14 and now it's just kind of stuck alright here we go so the USDJPY has just gone to a cell signal in the daily chart it has just pierced a couple of things I need you some of this chart because I had it shut down last night I don't know what happened well I do know what happened I'm using the oldest version of trade station possible because it has all the things that I've loved ever since the beginning that I've used it the new one dustings fabric people love it but I'm just I don't want to make a change it means that I might even have to notate every single one of these cells of charts I don't want to do that and then it fails and it closes down without saving everything and then the days work I have to redo so look at this so this is the USDJPY this is a yen so the yen it goes mostly in the direction of the dollar they go to kind of together and when they pull back they kind of pull back together this doesn't look anything like the dollar which is much weaker but it's still pulling back here's your support level it's just gone under it I'm switched and we haven't yet got the pink nine-period moving averages I've gone a little bit ahead say this particular pattern I've been taking out this trend line says that it's in a cell signal not a cell mode you could reverse that and I'd have to get rid of that down arrow but it says take this seriously put the weekly chart it's still a big tanker it went to an F very quick E and then an F and that says you know this the pattern says it could digest 140 149 67 right now 148.17 is the 14-period moving average and this major trend line it's a little sloppy but let's call it a major trend line up in the now I don't want to do this today even though it's technical what I do is that the very low that's made before a major major turnaround when you take that as your low and trend line it's almost impossible it's not good I usually go to the next one and use that as my trend line support so in this particular instance it takes you to excuse me let me just have a drink of tea and have a look it's kind of wide it's got an expanding wedge it's almost like a channel but it's a once you don't have parallel lines you haven't got a channel so it's an expanding wedge I'm going to be a little conservative and I'm going to put this in like that I don't really need that at all I've got this you break under the 14-period moving average then you're going to say okay now wait for the green to go under the nothing's there everything is really still very bullish in the yen this is the weekly chart the daily will change that if the daily starts to trade at 147 all of a sudden you've got everything in sync but right now you've gone to I could call this a g-stash c in the monthly chart I don't like to get too fussy about this I will call it g-stash c because that's the technique that I use but my thinking is it's still probably a c but I've got to put that in as a just in case you've got the lopsided cup formation like a v so that's all very positive the stochastic said 85 in the weekly 87 in the in the sorry 85 in the monthly 87 in the weekly and 65 so this is becoming vulnerable but it's daily chart the monthly chart is still fantastic but what I am looking at is that they go together and if that dollar doesn't find some support maybe even uses the 200 period exponential moving average after four sessions usually four is not it can go a little longer but if it uses that as a prop to trampoline to move up into the 104 105 area that stalls as moved to the downside and that's really a possibility that you've got to consider so if you look at the USDCAD which is the Canadian dollar and they often they the US dollar and the yen and the Canadian dollar go kind of in the same direction you can see it's got a dreaded age it's saved it by holding the 50 period exponential moving average technically I have to wait for a day because it's a red candle but I would put it down arrow at this particular point to say well you're going to prove yourself it's in a cell signal not yet a cell mode monthly chart is only in a peak D but it's not doing very badly so when I put it together I say the weight of evidence for me says that the dollar is weak in the shorter term but the intermediate term is still good the yen still very good the USDCAD still very good and look at broke but now it's back into that long term downtrend line I treat them gingerly these very long-term trend lines oh they look fantastic but actually it doesn't mean anything time alone will get you above that so I just treated with respect but look at the wedge and it's broken to the upside it could even pull back a little bit more so when I put it all together and when I put gold together remember we were talking about gold and I say that gold to me had moved because of the anticipation of the mid-east and and the geopolitical situation where gold becomes the prime focus as a safety factor but you have to put it to that you have to put together with the XLF if the financials were really deteriorating well then I'd say ho ho ho gold I want to grab every single thing I could but at this particular point I think it's more reflex action and because gold is held so well you're starting to see some movement and you'd expect that in the gold stocks because if gold is priced much higher why on earth would the gold stocks not want to move but I don't like the fact that the GDX GDX is kind of languishing let me just show you this the GDX I mean look it's just kind of stuck it's not telling me anything yet it's a nice move but it's not great so that's the gold minus so you see how I'm trying to put the whole picture together and that says to me don't think that it's all over for the dollar the dollar is pulling back it's deserved a very meaningful pullback how it handles 100 and 3 to 102 support over the next week is going to be really important because if in sync you get the yen pulling back and the USD CAD the Canadian dollar pulling back then it becomes more serious but at that point I do expect that you would see gold and even the rotation between gold and silver says there's something wrong with this picture so it's not geopolitical it is trying to form a 200-period moving average in gold at 1.961 support that's really key and you've got generally falling exformation here start to see the gold continuous contract start to trade above 2000 maybe 2006 all of a sudden that's going to be important and I suspect then you will start to see the GDX the gold minus move up into the above the 29 40s 200-period moving average try to get to 30.31 and it needs to do that by I would say 3 weeks now I'd say 2 weeks even with the holidays alright I think I've covered a lot that people will ask me about what I'm looking at just real quick CLP that is gold once such a smash to the south side this is a very nice turnaround the price is not good you want this to come up in CLP in 94 not to 89 at this particular point I want to see the evidence I want to see yields just flat come right down I'll be back down 34 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 O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU HUI GDX the dollar bonds the South African rand as well as 25 different mining equities with specific sell recommendations the gold report new subscribers get a 30 day money back guarantee so you have nothing to risk subscribe to Tom O'Brien's gold report newsletter now at tfnn.com are you ready to take your trading to the next level introducing Tom O'Brien's award winning newsletter market insights your key to successful active trading Tom O'Brien renowned for his expertise in financial markets has designed market insights to be your daily guide to profitable trades Tom publishes his daily market insights newsletter every market day before the market open along with updates when warranted stay ahead of the game with Tom's real time analysis and trade recommendations delivered straight to your inbox whether you're a season 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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 LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ remember we spoke about this a long rectangle formation loss of a lot longer than patients every time you think it's just about the break support it bounces then it goes like a little ping-pong on a plastic sideways tube then it bounces to the top of your these and break out and it just turns around and comes back down again so it's stuck when or if the E-mini ES ESZ closes under 45-14 no 45-13 probably a change of trend if it closes above 45- 25 to that 45-26 200 period exponential moving average that's a breakout so we're going to be watching this closely right meantime back at the ranch what have we got we've got another segment got two segments left so TLT right now very nice move up nice it's not good enough and the report this morning came out and some of the stats were a little little more inflationy than one would expect so I don't think it's going to be easy at all for the Fed and within that context the proof of the pudding is is in the price if you look at the TBT we've got their fabulous pullback from a peak D in the weekly a peak F in the chapter of methodology right at 44. 52 44. 96 44. 96 and that was on October the 23rd I think I had that typed in I'll do it again 44. 96 44 6 10 23 and that has tremendous support in the 36's if it goes to the 35's the weekly chart starts to see that 9 period moving average finally pulling back sharply it's almost like the dollar with a 9 period moving average except this did break out remember we were looking at this and we were saying wait a minute the TBT has almost TNX has a 10 year keep you on the middle chart that's way better looking look at that that's the 10 year yield you can actually note and here it is at 44. 56 4.456 underneath the 14 period moving average just a 10 under it right now but the 9 is still over it and it did a beautiful 1 to 1 in the chapter 140 exclamation I've taken some of it out because it was getting messy and you've got a PD cell mode in the daily chart so this is almost like a cell signal yeah in the 47 and I put an up arrow instead of a down from those days I can tell there it is okay there and yeah this is pulling back in this whole area of 40 the 43's is going to be support that you have to watch if it suddenly pops to the 45 46 area next week that's going to be a bit of a problem and it's a possibility that it could do that but the trend in the daily is down the trend in the weekly is very short term becoming negative but it hasn't gone anything yet very negative the magnies crossed negative stochastic now 69% 9 is still way over the 14 period moving average so it's a process and that's what I think that's why I think this is all going to take time we have this spectacular takeoff and now we're about Snowball says what time is the F1 race in Vegas right we've had that this is more a digestive phase very important when you're going up like this and but I still say that next week we should see a rally actually I said I would do this I'm going to do that right now so let me do this nvnx this is inovix operation we had this did very nicely the other day we got back into it again took a little bit of a loss and I I'm stepping aside and one of the reasons is that these stocks these this is a battery development 3d cell architecture there are a lot of these stocks that to me are saying for instance another one that we have in nice preference haven't got into it for a while is stem energy solution storage so something's not right in this area and I'm getting notices here on automobiles that they've talked about price cuts price cuts I haven't seen that for a long time so something's not quite right actually let's go to that guy a n is the symbol what was his I don't remember his name ordination ink yeah look at that peak D in the dating peak F in the monthly and a very sharp pullback in the dating column to go above the 200 p moving average that's 134 it was once in the 180s that was earlier in July I something's not quite right so yes so let's just say very meaningful really now I needed to do this before we wrap up now there was another question I did the TLT yeah I did that I did so ENV what what are the parameters that you look for you see this wick if at any point in the next it has to be within the next two days I could be more but I'm just saying this particular technique with the inverted Chapman wave Roman candle says that it any day that it's able to hold for 90 minutes above $12.17 I'm doing this by eye but I think it's close to that says it's a real good chance it's going to make a leg D by going above the high of 12.0 so yeah 12.15 that was made on the 15th of the month if it takes out yesterday's a low of 10.91 it just says it's stuck in a range it doesn't have to break down but it's just stuck all right so I hope that helps you another Costco yeah so this is very important Walmart it's amazing just look at this Walmart went to a peak oh I didn't have a chance to update this yeah it went to a peak G three days ago right here made a new all-time high at about 160 917 let me see did it make it go exactly to 170 round number high I don't think so you just missed it by a couple of pennies or went over 169 .84 94 what was come on you could have given me a round number anyway and look at plunge from 169 down to the 200 period moving average this morning so it was 155 that was a peak D and this is exactly the same thing this is the chivalry unconventional flat base restart right here and you would expect that at some point it's going to test the 150 150 falls 152 to 154 level okay but it is a leg D in the monthly chart so you got to be careful because this was one of the best so Costco was also doing extremely well in the red big rectangle along this is the why this is I'm not the narrow rectangle I've given webinars on this if you if you're subscribed to my opening call you get these webinars for free check it out I have a webinar that I discussed the narrow rectangle long narrow rectangle we've got this exactly right here look at this it is still in the range you thought it was going to break down doesn't do that it says it's getting I have account and account says that within about another I'd say by 11 10 between 11 10 11 20 today we'll watch to see whether it's finally building up enough see the technicals are improving but the price is not that says that if it pulls back again these technicals have a long way to go down in the meantime it's holding very steady this is the narrow rectangle let's go back to the larger rectangle and that's right here with Costco and the rule of thumb is high highs and high lows from the flag whole high it can go just under right on or just above the three wheels high and you've got to be careful so far it is in the leg D in the week D in the dating leg D in the week I'll be back the reality is that navigating financial markets can be risky markets can be chaotic and difficult to understand having the latest market advice can help you turn this chaos into a key for creating winning trades at TFNN we understand that it can be hard to find reliable market news that's why each of our market experts offers their very own market newsletter a must have tool for every trader out there striving to find an edge in today's markets TFNN newsletters cover every aspect of the markets so you can analyze the market before you trade try any of our great newsletters risk free with our 30 day money back guarantee just visit the 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day go to TFNN.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV yeah so with the Costco's chart look at this yes target A, B, C, D and then it spikes up this is a stock that was up in the 180s at one point goes down to almost 100 so you're going to see this rotation and the rotation says this is a very important moment because I would like to see and I'm going to be selling this a lot over the weekend when I do my weekend overview tomorrow for subscribers from opening call usually about an hour long overview of what we're looking at what we've done what we intend to do but this IWM I'm going to have to look at it closely because if we get a pullback here in the major indices just for a brief moment you want to see the IWM start to move you don't want to see that pullback again it has to start very by the end of November it must be in the 185 or higher area if it's able to do that that's really positive all right with that said hand you over to Steve Rhodes should be a wonderful show check out my opening call my daily newsletter is that right yep almost yes we're almost done but I just want you to look how much patience you need for these things it is still right now it's trying to break to the upside in this one-minute chart so it's been in this range since nine you can talk about the low of 942 this morning which was at 90 95.14 and the high was this high that was made right here at 1022 peak F at 45.23 that's a very narrow range considering where it's been so we'll see and as I said I think the 5-minute chart is starting to try to build strength to attempt at least a move to the 200-period moving average that's the daily one of 45.25 if we can start to trade after um 12.15 this afternoon after about about yeah 12.15 Eastern time if we can start to trade about 45.26 45.27 that'll be a good side meantime it's still stuck in this range so all I can say is have a wonderful weekend um we'll see you back here on Monday just real quick yes Uranium stocks are still doing well