 The following is a presentation of TFNN, the Tiger Technician Hour with your host, Basil Chapman. Call now. Call free at 1-877-927-6648. April, well into April. Now we want to do a couple of things. Let's just go quickly through the technicals of the different industries. So the Dow is holding well. It's up 46 points and 33,448. It's been kind of the leader of the last couple of days to go over from the QQQ. Now what we've got is, look, this is the daily chart on the left, the weekly on the middle, and on the right is the monthly. Monthly says a lot of work to do to break out of this resistance line. And the same thing in the weekly chart, and you've got your support level, it's holding very nice. Most of having the pink move over the black period, moving average, that's the 9 over the 14 to go green. But it hasn't done it yet, and we've got another day and a half to go. So we're looking at the Dow with very good technicals on the daily, but it's still right at what was that midpoint. Remember, this is the channel that I spoke about, that Long Sideways channel. I could have extended that. It started to get a little messy, but I kept that line. That line says, we've stopped dead, we've stopped under it at 33,572 back in early March, and then plummeted to 2,000 points to 3147, 31429, and then popped up to yesterday's high, which was at 33,634. I'm anticipating just a fractional push above that level in the next couple of days just to complete this D, which we usually get a bicycle upgraded to a by-mode and a chapter in methodology almost always goes to at least a D. You've seen how many D's we had. We had a D back in February at the top. We had a D back in January at 34,342 as a top, and we had a D, and it quickly went to an E at 34,712 back in December. So I'm expecting that that should happen, but in the meantime, it's getting tougher and tougher. Look, the S&P, the S&P has gone to its D, and probably today is making a P D. Let me just go back to this one here where I said I'm going to be a little conservative, and that says that it's gone above the one-to-one chapter in the way of falling X, breakout formation with the parallel move at the same diagonal angle. It did go to a D, and now we've got to be real careful because unless the S&P and it's a D underneath the previous P G, I do not like to see D's form under previous highs because it means, unless you're coming off a major low, because it means that you haven't even got enough strength to get to maybe a C above that and then go to a D, it says you could be stalling out for a little bit, and that makes this 4034 area where this little dojo canal is really important. That's also where the 14 period moving average support is over the next week. If you're looking at a breakout, I see enough strength in the S&P with the stochastic at 94.6. That's fabulous, and flat if it suddenly started to go, the moment it goes under 80%, that's a serious, serious thing. And it hasn't done that, so it says it's stall some kind of support, some kind of residual strength. The QQQ is a little bit weaker, down two and a half at 316.7. I said to my subscribers this morning, I'm a little concerned that the semiconductors have failed. I'll put them together with the QQQ. Look, the QQQ is probably making a PhD today. There's the majors making a peak, F slash C, so it could be a peak F. Look, a sharp move down and a peak E in the weekly chart likely. And that's usually the leader of the markers. I'm real cautious right here. We've stepped back from doing buying. We wanted to do a quick trade today, a potential trade on the three times long TQQQ. That's along the Qs, just because it was a chance that QQQ, even though it was in leg D, could in fact extend a little bit more to try to test that high. And it was just a real quick, a very tight, we got stopped out. I think something like a 1.7% loss on the three times long. It's amazing that you can have such a narrow range, but either it worked or it didn't work, and it was only for traders. So in the meantime, back at the ranch, what I am looking at is that the IWM, which in a sense has been a little bit of a leader that it couldn't get going at all, is down again today, down to the 1.7T30. This is not a good sign. So yeah, we're looking at a number of factors that are saying just be real careful. Look at this, the financials down again, down 12 cents to 3179. You know, you include your Bank of America, it's fading, it's down to 2755. JPMorgan, really a very, very strong bank, whoops, down one at 127. Look at this, couldn't even break above the 200% moving average of such a sharp move down. I just say be a little cautious here, but there are areas that I'm noting that are starting to move very nicely. Now, within that context, gold has been spectacular. Gold actually is up again today. Hopefully it just slipped down 2037. I think on a very short-term basis, the unbalanced volume is suggesting that it's somewhat overboard. It should go back into the rectangle, probably go back under 2010. It's a 2037 right now, but it's fabulous action. We're looking at silver. I'm going to go to our corner. We've got silver in a leg E. It's been much stronger. You remember, I like to pair them together. One follows the other, plays catch-up, then the other starts to store. I think gold is about to store a little bit, and then silver should store a little bit. I'm going to go to, I guess, let me just see here. We have, we have a little, we have George in Newport, Richie, Florida. Hi, George, how are you? George? George, are you there? Said first-time caller. So maybe you're not used to it, but I am, you're only okay. All right, well, I see, George, that you did want to speak about Bank of America. So in the meantime, I'm going to say to you, maybe you're there and you're just, whatever it is. But just talk, as I'm talking, just say, I'm here so that I know you're there. But what I wanted to say, actually, oh, maybe you got off the line because I already mentioned Bank of America. But let me do this again. Bank of America, I have considered for years to be a very strong company. And, you know, when you go through to the risk management and all that, they seem to be doing things right. We've owned it for months, every year. And then we'd get out, we'd buy it. I thought we'd be alone in the 31 or under 30 area. And it would rally very sharply. We'd get out on the way up and the way down. Then we'd be out completely and just wait and wait and do it again. This is the first period in a long time that I haven't even thought about going to Bank of America. And that worried me about the XLF. And I love to see the XL financials moving with the market with the IYT. That's the transportation. I like everything to be in sync for a really serious bull market. So this has been a very selective bull market. So what I'm going to say to you is, if you're in Bank of America, I would do this. I would say if you haven't taken anything off and you're a little bit worried about the risk, I would say right here at 2766, just take it a little bit off. So it allows you to sleep at night. And just say, hey, I'm at least managing my bank. It's not managing me. I'm managing it. I'm taking a little bit off. That's if you have a loss. If you got in last week or so and now you have a little bit of a profit, I'd still say the same thing. Take a tad off. But if it closes under 2632. That's an old. 2632 was the low two weeks ago. I like to say be really careful because anything can happen. So I'll be back when we talk about the banks in a moment a little further. But there are a lot of things that I want you to discuss as well. But hold on. If you're still there, my engineer will look it up. Be back in a moment. Now I was up 55 as it was down 11 divergence. 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. 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. 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That was also really good questions. Thank you for calling. I appreciate it. And let me just go right here. I wanted to just mention something. Yeah, so I'm not sure whether I answered questions that you had in terms of the Bank of America trade. I believe you're hung up because I had already touched on Bank of America first time call. I would have liked to have spoken to you, George, in Newport, Ritchie, Florida. But you can call again maybe next week. I'll be doing my show tomorrow at 8 o'clock. I have to do it early. So with that said, another question came in about this Bank of America. And I'll do it right now. And that is, does the left side, right side price time match work in monthly charts? Well, you've seen it. I did it. I mean, how many? Let me just show you this. TLT. You know, monthly charts. I do monthly charts all the time. Oh, I forgot to. I must have done it with the bonds. Yes. Look at this. He has your monthly chart. And I did this huge arch formation. I said, if I make my midpoint right there, it should go to February of 2023 and touch the low that was made. Right there back in August of 2013 of 108 and 2330 seconds. Well, we did come down sharply, but I had done a one to one to the October 2018 low at 123. Now, I don't know if this gets smoothed out. Yeah, 125 was the lowest. So the numbers change only because it gets smoothed out. So that was 125. And I did that. And I said, I chose that particular candle right there. And what did we do? We broke it the exact left side, right side price time as to the bar that I chose. It wasn't the midpoint. It was a different candle. I had to do that because we were already moving to the right. So what happened is this is the month that I said it should hit right there. That was the shorter term one. And that was October of 2022. And we actually went a little bit lower. We went to 100. Oh, wait, wait, wait, wait, wait. It went to 118 and 21 30 seconds. Why? Because the price was 125. So it went lower, but it did it in the same time match. So that's a great. I've done this. Remember Exxon mobile. I've done it with all these charts. I've got this left side, right side price time at Exxon mobile went to the exact 105 level. But 104 76 was lying 2012. It went right there to that price point that I thought. It would hit and it did that. And then a pullback and then it went even higher. Even now it's holding beautifully. Look at this. This is a pure one to one to the upside of the falling acts formation in the same angle. The degree. That's the whole thing about this chart wave one to one extension. It goes in the same angle. The same number of bars. So let's go to Bank of America. That's this. Oh, I'm afraid to even look. I'm going to 17.95 was the load back in February. I think it was March, March of 2020. It runs all the way to the 50 area 50.11 had a chapter with two bar reversal. And that was in February of 2022. And now it's pulling back and says, I love to, if I, if I'm being patient. And I see that the midpoint, if it's to the high that was made extends a little too far, then I have to use different techniques, different chapter wave techniques. So all techniques that I discussed in any of my webinars and any of my, my, if you go to my site and you go to any of those webinars, you'll see me talking about this left side, right side price time match. I call it bar symmetry. But you can see that that would take it. I'm taking it to this cluster in this cluster has a low of 22 points who I don't even want to say it 22.39 back on July of 2020. So this is the cluster. And I always push right up against the wall that that takes me all the way to there. I didn't have to go there. I could have go there and would have been to to this low right here. That's the low of 11th. That's November of 2020. 23.27. It doesn't matter. And it says by July. There's a chance we could hit that. And here's your chat with inside wedge target support line. And that says, but on the way, if it holds 25 40 at any point, it could bounce off that level. So absolutely. Very nice question. More importantly, they will look at the candle. If we go into this week in April, there's a monthly chart and hold there and that Rick says if we go to look, we're almost there. If we go under 27, then that 25 level is going to be that was made the lower last month will be very quick to be tested. So yes, that's the reason why I'm very. I'd be very selective. And we have, we have, for instance, we have a stock, a particular stock we've taken a little bit off. We haven't got our second position yet. The second position will be bought lower than our original position. So therefore we want to take tiny little bits off to make some, some cash, some good profits in the meantime, so we can keep that as a cushion. But we have a stock that even today is up one and a quarter percent. So I'm trying to go under the radar so that we can weather the storm. And there are other areas that I last night I started looking at them in the electricity area. I'm finding areas that I think are holding very well. That's not gold. Gold has been spectacular. So let me just do this before I forget. I had a question. I think it was Jane. Jane, you want to know about Tesla? When can I enter hold off? I like the action of Tesla on the weekly basis. The monthly chart doesn't look too great. The daily chart is making this arch formation. It failed to break above the 200-period moving average. It made a peak D at 208, 208.44 on the 17th. I might as well just type that in. 228.44 on the suit. I can't remember now what I said. I said 18th, I think. I'll change that if I'm wrong. Okay, so it has a 208.44. Hold off a little bit. I think that Tesla is in the sweet spot in terms of the electric car companies for a number of reasons. But there are some factors that I'm looking at in the chart itself that says, I'm going to just go here for a moment. So if you ask, Bowser, you haven't looked at your automated support and resistance lines for quite a while. So let me just do that now. Let me just, while I'm doing it, I want to go to natural gas, because I think natural gas is attempting to form some kind of at least a tradeable balance. But it hasn't really, look at all the, look, 1.94 is the continuous contract support there. It's trading at 2.15. The weekly chart has gone under the 244 level. 207 is the 120-minute chart support. And there's nothing in the monthly chart. So I just want to do that because I had a couple of questions. Could you look at U and G? I'll come back to it. So look at Tesla. I haven't seen this for a while. So Tesla has 188 support and it's under that. Is it 187 right now in the daily? A ton of resistance between 207 and 217. And in the daily, 205 to 224 in the weekly. But very little support is printed. Therefore, it's kind of open to the downside. And 186.64 in the 120-minute chart. Yeah, I think that Tesla's just stuck for a moment. But don't ignore it. And it's good that you asked me the question. This chart holds 183. It pulls back under there. 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 publish the Gold Report with coverage of gold, silver, bonds, XAU, HUI, 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. 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At TFNN, 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 4.00 p.m. Eastern. For free, each host is an experienced trader 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. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Hi, folks. On my way to go to the different industries, let me say that Alta. Alta, you know, I've spoken about this for a while. You're going to watch real close if you're talking, but they're not doing this falling axe formation in the weekly chart. It powered through that. But the whole thing is that the lower 501.04 wasn't the starting point but the latest buy signal to buy mode which was back in 19th and 20th of January at the 486 area. So what happened is, once you go peak A, this is E-A, Alternate Count, because it was an instant, 1, 2, 3, but it was an instant restart, gives you F-B, G-C-R typed in, then I said D and it went to an E with a doji candle at 537.82. It opened at around number 532 on the 5th of 22nd of February. And then it gapped down and then I said, okay, we're going to be watching this because Alta Beauty, this is, you know, this is an area that beauty products, certain beauty products, they never get sold unless it's just a deep recession and that recession goes on for a long time before. And look at the beauty of this whole beauty, Alta Beauty is that, look, the monthly chart took one bar, two bars, rest, and then it made a new high. One bar rest, new high, number five, just get it over and over and over. Then it started to stretch it out until the last one at peak D, which was right on the March, I think, no, sorry, September high of 451.30, one bar rest and then it breaks to a new high and this is extended to a late E. Now you can, this is a monthly chart, you can see the on-balance volume is extremely oversold, but the stochasticity at 94% is flat. That's really good. And the MACD is good. You're putting in the prices over. Then you get to the weekly chart and you say, oh, oh, MACD is starting to fail. Stochasticity at 80%, but it's much weaker than it was at that peak E and here it is at leg F. And then you get the breakout of this falling Axe formation. It isn't a full one. Let me just draw it in so that you know what I'm talking about when I talk about these patterns. I've been doing about it for years because it isn't part of the regular vernacular. You won't know what I'm talking about but you can see it. You can see it right here. Make this nice and fat so you can see it. I'll make it very fat. And I'll change it to say blue right there. And then I'll say copy, copy and paste, copy it right there. New parallel, make it green because that's what we're looking at. And that extension says you can't go from that level, the breakout level, immediately you have to start off. And I usually start off either at a moving average or a gap or a doji camera or a trough. And that took me there. But if I go to the exact breakout, that takes you to 555. And what was the high yesterday? 553.06. And today is down 15. I'm watching this. I'm putting it together with the financials. Ultra beauty, which is just your, you remember there was years ago I used to use. What was that? Mr. Tux, no, what was it? There was that clothing company and I used to joke there, we say buy one, we'll give you five for nothing. What was that? And it was taken over by another men's men's warehouse took it over. So what was that? It was, oh I can't remember now. But it was this fantastic, this company was like it was golden. It just went to higher highs and higher then I found that years later that what happened was that the owners, it was just brothers or something, and they would be buying shares all the way. They just keep buying and buying and buying and they kept it supported. Well, ultra beauty, I don't know what is going on there fundamentally. I'm just saying, look at that beautiful buying, buying, buying and now we'll see if it starts to pull back and at any point in April, if it closes under 490, I mean that's another 40 points below this that's going to tell me, take this pullback in the market very seriously. At this point, something's up, it's down 2.85% down $15, not a big deal. It is a big deal when you look at the chart, but not a big deal in this little red candle. The first red candle it's had in about six months in the monthly chart. Alright, I want to mention that. Next I have done Tesla, I said hold off on Tesla, because I might say to you just, once it starts to move up, I don't mind missing a move to the upside. I don't want to be buying the power move to the downside. This is a peak C failure, so if it does close under 183 in the next week or so, then that low that was made at 162 was it 161.50? I can't remember. 163.90 That will be a target for an H pattern. I don't think it's a rush, but I do think in many ways in the overall spectrum of the electric car market, it's got a heads up, it's there, it can pull prices down a little bit, and take away the pressure from other companies. Look at Ford stuck at that 200-period moving average. Next question I had was could I look at, I'm going now in sequence MPC is Marathon something, right? Marathon petroleum call so this is different to MRO I used to have this all notated. Peak A, let me just do that on the daily chart. Peak A right there. I said I'm a little cautious about the oil in the oil service stocks in this move with crude oil acting so well. Something's not quite right, and I wouldn't be surprised if this is an emotional response to something. So from this low here, from this low in the weekly it goes peak A peak B see big moves up and then it gets to a D not quite so high and it's starting to stall. I'd say just I'd hold off right now, but if you're in a longer term, yeah longer term maybe if you want to start a small position in a long-term position at 129.94 right now. I'd say okay, but at this point I would say wait a little bit. Next question was VLO which is Valero Valero energy type it into the little box over there the gosh I haven't even had a chance to do my E-minis which I wanted to do so this is stalling a little bit nice action today at 133.47 they both this oil and gas exploration they're both kind of in the same area they have this pretty much not quite the same charts but in terms of in terms of charts which one is a better chart MPC Marathon Petroleum Corporation is a way better chart in the weekly and the monthly VLO is way choppier so I think if I was to choose between the two I'd say MP yeah I think so I think that MPC is probably the better one and this one I'd hold off if I was if you got both of them that's one thing if you got both of them you need to see you say 133 you need to see by two and a half weeks time for the monthly chart to improve it needs to get to 145 143 to 140 that's 10 points from here but if it takes out 120 support that's a real problem next question I had was let's just go here okay oh yeah so you had the altar you still got those puts very congratulations um altar altar beauty puts yeah I think that the the downside is a little bit is becoming more more like a magnet on altar that upside right now I think there's a lot of upside resistance let's go let's go yeah so that's there I just I'm ready oh this is what I want to look at CRWD crowd strike crowd strike and made a double top just the other day I'm watching these really close this is the cyber security area um I need to talk about that a number of people asking about it I'll be there in a moment uh basil chap attacking does a 56 as he was down 13 we'll be back you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by 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 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 markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk free with our money back guarantee at tfnn.com tfnn educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade labu or labd directions daily s and p biotech three times bull and bear ETFs visit directioninvestments.com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction chairs carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-476-7523 the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principle the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor for side fund services LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ CRWD this is holding cyber security CRWD JDX 12789 down 8.97 down 6.5% why because look at this 138.33 in March pulls back makes this art this cup V-shaped formation and look what we've got we've got that high that was made with the MACD strongest it's been a long time stochastic over 80% unbalanced bottom and I really started pulling back that was on the 23rd of March and then it pulls back and then it holds the 14 period moving averages average running sharp it goes to what 138.67 all below the 200 period moving average which is now repellent doji candle that was yesterday the 5th the 4th of April and today's down sharply and the MACD deflected lower the stochastic now under 80% 75% the unbalanced volume is pulling back this had better hold 119 whoops do one thing at a time 124 it has to hold 124 the 50 period moving average because if it doesn't it's going to retest the lows that remain 118.15 and 118.23 on the 10th and 11th of March so watch this closely the weekly chart did improve a lot so far that's holding okay but I'm watching this because this includes hack which is one that we've been looking at very seriously we've had it before we got out of it looking I had a choice of two particular ETFs I chose a different one and left this one now this one's pulling back and you can see it was stuck in a rectangle formation I'll talk about rectangle formation in a moment but you can see that it's having a little difficulty trying to break out the strike is the cyber security ETF for the security stocks and it's being hurt by crowd strike let's see what PAN APANW is doing Palo Alto yeah that's gone to A, B this is F, G stash C it's gone to a G stash T it's actually holding much better and it's a leg B in the weekly chart this is the supreme one this is the leader right there A and that's gray A this is an F stash B and I have an old journal counter because as you're getting higher and the technicals are starting to weaken you have to be prepared that there could be a pullback so I think it's just really time now to go to my look I talk about the narrow rectangle formation we were in this narrow rectangle formation going to the top to the bottom 41-22, 41-18 for over an hour then suddenly pops above it goes above and then starts to move very sharply higher and goes to the top that I had drawn in as a left side right side price time match to the bar symmetry to the height of A23 of the E-mini S&P E-mini one minute chart at 41-27 point 75 and what does it do it spikes up to what 41-27-75 the exact to the quarter to the quarter point amazing and then it started and I must admit that I was in this and then I I gave it a little too much room so I took a little bit of a loss it wasn't looking real good took a little bit of a lot out and I just haven't had a chance to be in the show for this bounce to the upside and failure pattern and now we are down to 41-07 and that's the reason why I say to subscribers it's only the one that needs to make that leg D. Everything else is already done in the Chapman wave what we like to look for so within that context our lower yields helping the market so the TLT has another question I had so the TLT is stuck in a range see this weekly chart for the IHS 20th Treasury Bond ETF made a high in March of 20-20 179 comes all the way down to 91-85 back in October it's stuck in the rectangle what a rectangle if it's a short-term wide rectangle that's one thing but as it extends out it just tells me that this is going to be stuck in a range for a little bit the 200-period moving average of 108.54 if it's taken out then it go to leg C above 108 109.10 and that will go to a leg C can I do that now yes I'll do that now if you don't mind I'm going to go to this is my chart that I often show I always show on the weekends when I do my hour long video so folks if you're interested in my Chapman wave methodology as well as my newsletter on a weekend as long as I'm in town but I've actually done yesterday I had someone put in my discord no sorry my Camtasia onto a different computer and finally I'm going to be able to do I hope be able to do my video my weekend videos when I'm out of town and I will be out of town in May so and in April so I'm going to be needing it very much so if you're looking at the TYX that's the white 38T bond yield weekly chart you can see it's being buried here whereas before it was always nicely above the 10 year the 10 year brown or gold TNX right there the cyan is the 5 year FEVX they were in sync like they should be yield 30 years above the 10 the 10 year T-node yield is above the 5 year all of a sudden we got this mishmash ever since well since late 22 so now we've gone the cup and handle formation that I dislike intensely unless you get the low of the cup which is what Investors Business Daily works on very hard that's one of the prime techniques that they use if you get that the reason why I love the Chapman wave cup and ladle break out we haven't seen too many of those lately is that it goes it breaks the left side high in leg C that's as you can go quite a bit high because you should still go to a D in this case what happens is very the cup and ladle says that you stored at the left side high and now you're making a cup formation and if you break out of it no matter how high you go you almost always go back into the handle which is exactly what's happening now that's the reason why I say this is stuck in the range as you midpoint ish somewhere around there and I just think it's going to wiggle around here for a little while I don't think it's breaking out or breaking down just yet maybe I'm wrong but that's what I'm looking at and if you look at when I says global timber and forest ETF that pullback I always have these charts so this is a weekly chart of the global ice shares of the timber and forest ETF telling you there's weakness in the worldwide weakness and this is telling you that the Philadelphia housing index is actually running really well and that yields probably aren't going to be breaking to the upside just yet because this is what this chart is saying on the weekly housing index enough with that let's get back to the story that I want to go separate here let's bring that I spoke about the estimations being weak I'm not happy about that did the TLT oh wait, you mean Joseph A. Banks is still around I thought they were taken over but I thought it was Men's Warehouse or maybe they were part of Men's Warehouse and they're still doing the one I used to always love buy one pair of socks and get two suits free I mean I don't know how they stayed in business obviously it wasn't that but I'm just joking about I used to always joke about that and yet they did fantastically and then they were taken over and I think Men's Warehouse did terribly they didn't get acquired because they did they're still standalone stores really 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 $1 for the year there's no catch or added costs when you join our community of traders 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 ideas 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 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 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 the 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 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 or 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 company Joseph A. Banks tailored brand company is headquartered in Fremont California's parent company tailored brands also owns K&G fashion superstores menswear house and Moors clothing for men in Canada and now I remember going to Denim I saw Joseph A. Banks and I remember this is a one-bank I said oh they're still around yeah thank you Jimmy yes they're all around but they're owned by someone else okay question about TD I wouldn't touch this Toronto a Dominion this is pulling back sharply at 5829 hold off on this let's look at it again maybe next week Wednesday just to see how it's holding another question came in can I look at the VIX so make this as simple as you can this is the most fraught time that we're looking at in a long time I'd be very positive on certainly the Dow and the other indices until they made those peak Ds and ease and now we're going to be watching this closely the VIX is up at 99.99 99.99 the day is young a lot of things can happen if the VIX index starts to move into the 20.35 the 14 period moving average that's one thing if in the next going into Monday and Tuesday next week I'd mention if the VIX goes into the 22 so we start to see the Dow down a triple digit or more there has to be down 60 or more I think that that's going to be a very serious thing I can talk about tomorrow when I do my show at 8 o'clock one other question came in that I didn't see where was it oh no no no there I did that I did that I did that yes I did the VIX I did that I've done almost everything that I needed to and crude oil I just want to see because the inventory came out crude oil yeah it's just holding us down 60 cents so there's a lot to talk about tomorrow going into the following week because that's going to be for me one of the critical weeks coming up meantime I think there's just enough residual strength for the Dow to go higher the others will be dragged up a little bit but I think we're getting into a pretty tricky time all time check out most of the former David Newsletter and stay tuned for Steve Rhodes and The Great Programming coming up see you tomorrow at 8 o'clock in this morning Eastern Time have a great day