 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. Hi everyone, Basil Chapman on this Monday, December the 20th. I'm almost wrapping up the year and what a month this is being. What we're looking at here is the arch pattern, the resistance level and the dreaded ages. And so far in the downward down 548 points and 34814, the 36,565 all-time high on the 8th of November saw a pretty sharp plunge down to 34,022. And then there was a very strong rally to 36189. We've now had three red candles the days young, so far as a red candle, big red candle. And what's really important about this is that we are really, if you're looking at the weekly chart, see this rising channel, we went just above it, then we went below it. We established very clearly a trading pattern that says the Chapman-Wade inside-track support level and propellant zone is down at the 34,000 seats. It's a weekly chart, so let's go with this week. And it says 34233, absolutely key support. A break under that says you've broken this trend line, rising trend line for the very first time in a long time. And the support level starts at 34406. So let's just say from 34400 to the 34200 level, that's going to be really important support this week. Does it take it out? Is this a peak D alternate count in the weekly chart? I suspect it is a peak D that is going to be a little bit hazardous to one's wealth if you're ignoring the fact that even the Dow, which held very nicely, is starting to see some deterioration. So in the daily chart, you've seen the 9th period today cross negative underneath the 14th period moving average. It's very close in the weekly, but it's a weekly chart. You have to wait until this Friday before you can make some explanation about that. And what's really important is that the upside now shows tremendous resistance at the 9th and 14th period moving average crossover of 35430 at 700 points up from here. And then you've got this entire inside track repellent zone, the falling axe repellent zone. So that's the doubt. Let's go through the S&P I'm going to do. I was asked if I would go through all of these in great detail. I don't have to do much great detail because the charts are telling you 474388 was the high of the 22nd of November in the S&P. It pulled back sharply to 4495.12 beginning of December had a very strong rally and wanted to do. It made a potential double top. These double top patterns have been so consistent over the past few months. It's amazing how this happens. It rallies all the way to 4731. It's called a 32. Just at 11 points off the all-time high. And then it starts to pull back in the alternate counts in the weekly chart. That takes you to the Chapman Wave up channel inside track repellent zone at peak F. And now we've come down very sharply at this point. This is not even an hour into this week. We can say that the week so far started off by going underneath the 14 period exponential moving average. Over the past four weeks it's done the three times. But each time it's managed to close on or very sharply above the 14 period, the black 14 period exponential moving average. And look for the up channel. This is a long-term up channel. You know I use up channels. I just take the outer lines or the inner lines. And I try to join as many peaks as possible. I can also cut into a candle but not very much. And it tells me that these are the lines that I personally are considering to be very important. And you can see this up channel line which is really parallel to the outer resistance line. It says that right here where we are at this moment in 45-48 if we start to trade on a daily basis below 45-40. That's going to suggest strongly that there's a good chance that by Friday's coming Friday we would have done some damage to the 14 period exponential moving average with a chance that the 9 is going to go under the 14. And the magnate is already very weak. The statistics are 70% not very weak but weak. On balance volume is still pretty strong in the weekly chart of the S&P. Monthly we don't even have to talk about because unbelievably we came within a point and a half of the all-time high. This is still leg B with a potential peak B. But look at the e-mini continuous contract. It went to a new all-time high GCSE in the arch formation of the double top formation in the daily chart. And the weekly chart announced it's gone sharply lower. So let's keep this in mind that we can sometimes have a disparity. I like to treat the cash as the most important because that doesn't trade overnight. And although I like to use everybody trading price point for my charting, the core is really the root and that is the cash. The futures are very important but I'm treating it as the cash. And what it's really saying is that if this is going to be a sharp pullback in December at the close, then there's a good chance that January could form a high and that will get you the S&P futures at a peak B. But let's just deal with one thing at a time. The QQQ, the NDX100 trading down 5.62 at 379.25. Here we go. So all the indices on the daily basis are in cell modes. Not all the indices in the weekly basis are in cell signal even. They've just begun at Friday's close. They just start a cell signal so they're not close to a cell mode. But sometimes you can go almost instantly from a cell signal to a cell mode or a bi-signal to a bi-mode. In this case I'm just prepared to wait it out. We are underneath the 14-period moving average in QQQ in VSCO. QQQ Trust Series is the NDX100 trading vehicle. It is the QQQ and it is down 5.46. Now what's really important about this is that two days ago you already went negative 9-period under the 14-period moving average. This has been the slowest of all. We've now gone to a leg C to the downside. It doesn't matter where it closes, it's a leg C to the downside. And you've got the arch formation giving a full counter-trend bounce and return to the price on the left side, which was 378.90 beginning of December. And now we've gone under it. So this says to me, and I've seen the subscribers, we've raised a lot of cash. We are looking at this as a consolidation that could turn into a deeper correction. And we're just waiting on the sidelines with cash. We've got our core positions, they've held really well. I think this week they're going to suffer. We've just gone out of one of our positions, which I really wanted to keep it. And at a fabulous rally, we've made a bit of money in it. I just don't want to mess around. So I'll continue with this overview of different markets as soon as I get my conditions out. I've got 500, almost 600 points. 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 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 What's separating you from the most successful men and women on Wall Street? Right. Information. Having all the information gives us the perspective we need to place the right trades at the right time. The TAS Profile Scanner is the premier market profile-based scanner. Powered by its acclaimed TAS proprietary algorithms, this feature-rich scanner instantly filters over 2,500-plus global financial markets, such as stocks, ETFs, commodities, futures, and forex. This powerful suite of tools leverages instant trade filtering and strategy formulation to show you emerging trades before they happen. For a limited time you can save $100 off your first month by using the promo code UPGRADE and you still get a 30-day money back guarantee so you have nothing to risk. Level the playing field with the TAS Profile Scanner which you can find out of the services tab at TFNN.com 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 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 8.30 a.m. to 4.00 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 Call now. Toll free at 1-877-927-6648 Internationally at 727-873-7618 Hi, folks, we're back. And as I was saying, the QQQs, testing left-side low, I suspect we are close to these two have balanced and actually holds for a little bit. We'll see what happens here. Let's go to the IWM. We're also 2,000 made a lower low. It's trying to turn around. We'll see how this goes, because what's really important at this particular time is that you've had, look at all these bars to the downside. Not very big, but big enough to keep going to lower lows. And we went below the 2,012-71 low. I think that was like the first of December. And now we're testing that. There should be some kind of an oversold balance, at least as first part of the morning and then how we hold later on is going to be important. Look at the TLT. The TLT, this is the Lehman 20-Year Treasury Bond Fund. It's down 52 cents and 150.31. Normally you would see in a situation like this, money come out of stocks and flow into the bonds as a safety factor. We're not actually seeing that at this particular point. In fact, bonds are just steady right here. If you look at the yield, let's go to the TNX. There we go. The TNX is trading at 1.394. This is the 10-Year Holding OK in the H-Pattern. But I wouldn't say it's a surprise, because we've been following this very closely. And we've seen that money has not, in a traditional way, gone from stocks into bonds at this particular time. So we've got to respect that. And most importantly, what we really want to look at is over the period of the rest of December, where do bonds close? Where do the yields close? What's going to happen there? Is there going to be some kind of a divergence? We're looking at that very closely. Now let's just go to Crude Oil. Crude Oil is trading down quite sharply, not quite sharply, very sharply, down 3.34 at 67.38. There's your dreaded H-Pattern. What is the dreaded H-Pattern? Let me just show you this here for those of you maybe new to my work. It's a pattern that I'll look at for years and years and years, where the price comes down quite sharply, and then it tries to rally, and then at a peak A or a B, it starts the first or second arch formation. It starts to turn down, and then it takes out that left-side look. Well, we don't know yet if it's going to take out. It's gone under the 200-period moving average. This is a really important moment, and it's important for three reasons. One is, because if yields are going to tell us that overall the money isn't flowing from stocks, weak stocks, into the safety of bonds, something else is happening. Number one. Number two is that if the TLT, which is basically looking at the demand for bonds as it relates to business, and if you look at, let me just do this. I'll do this while we're talking about it. I'll go to my chart that has, I'll show my subscribers over the weekend. This is the one that has the triple yields, the TYX, which is the 30-year T bond yield. Then it has the TNX, which is the 10-year. That's the white is the 30. This is the 10-year, the 14, and the cyan is the 5-year. What we're looking at here is that if they start to narrow, then that's one issue. But if money starts to flow out of bonds, meaning bonds come down and yields go higher, that's kind of what you expect as the market weakens. That's kind of traditional, at least the way I look at the market. The third thing is, if you're looking at yields, you want to also be able to put it together with, say, something like the home builders. Well, the Philadelphia Housing Index made a peak and now it's pulling back sharply. It's down at 487, down at 14. It had a really good turnaround from the arch formation to successful arch formation, rallying up quite sharply. Then what did it do? It started to stall, not last week, the week before, and then last week was, no, that was last week, red candle, and so far this week there's a red candle. That says there's some impact going on in the housing sector that you've got to respect. And if you look at the ice shares, the wood, this is the global ice shares, global timber and forestry ETF, stuck in a range, but pulling back a little bit. So this is saying to me that in the market, the areas that we're holding up very well, we've got to see if they become vulnerable over the period of going into the end of December and the beginning of January, because they've been holding, they've been stellar. Even though they haven't made new highs, they've been holding steadily. And this is what I'm going to say, that's wood. And I'll put it together right now with the HG, which is high-grade copper. Look, there it is, high-grade copper at the lower end of the rung. It's not doing much. It's down 0.003 at 4.292, but it's in the lower area. It's not showing strength. It's not showing weakness. So we're going to be watching that very closely. Now, there are a couple of things we need to look at. Look at gold. Gold is down 9 ads in 1996. You would think that this is a safety factor and that, in fact, what we'd be looking at is money going into gold. But I always like to put that together with the XLF. Well, the XLF, the financial, there's to be select financial spider fund. Look, here's the Chapman falling ax and repellent zone right there. It turned around to 39.40. It went to recovery at 40.86 in October, 26. Now it's pulling back, starting to make lower lows and lower highs. And all of a sudden, you're looking at the dreaded H pattern that's gone to a leg each of the downside. This is the S&P XLF select spider financial fund. And I've struggled with this. There's no other way I can count this, but at a peak C right there. Hey, I don't know what to tell you. All-time high peak C in a weekly chart. Usually it doesn't break down. This one did. Well, it hasn't broken down yet, but it's breaking down. It's underneath the 9-period moving average in the weekly. You've just flipped to an S, which means sell signal in the weekly chart. The week's young. Anything can happen, but these are not good signs. And a leg D, peak D, in fact, in the monthly chart, peak D in the fourth highest peak in the chat wave, you've got to respect that regardless of what this weekly chart says. It was a peak D at 40.86 in October the 26th and the daily chart. You've got to respect that the financials are under pressure. If you look at J.P. Morgan, someone asked me, could I look at J.P. Morgan? Yeah, it just broke today underneath the 200-period moving average down 370. We've got Bank of America. We've still got it. I've been deciding whether or not we should actually get out of it every year. We have it as a trade and it has a really good rally and then we get stopped out with higher as we go from a high to lower highs and we get taken out. And then we have this cash position that we go back in. We've done this for five or six years. Over and over, we've done it this year. At 31, we got in back in February. It ran all the way to 48.69. We got out the last one. Oh, I keep forgetting to do that. I have all weekend to do it. I forgot to do that. Sorry, but let's see, that's Friday. So we've already gotten out of the Bank of America three small positions. Let me just find it here. Tadoff in 38.90, 39.79 and the last one was at, what did I say? 47.48. Yeah, that was just a point or so of the most recent high. So, yeah, we're looking at this and we'll see what happens. This is just a sign if the bank index right now, which was acting so well up until November in whichever situation you're looking at. Let me just look at the XLF again. That high was back in October. Now it's something to be concerned about. Downs down 600. Very weak. I'm back. Are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with? Become an Apex creditor in the trading markets and join the Tiger's Den trading room only at tfnn.com. The Tiger's Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas. Join the Den and surround yourself with the sharpest minds in the trading world. Subscribers to the Tiger's Den are also the first to have their questions answered live on air and can privately chat with our tfnn hosts live during their shows. Interact with other Tigers and Tigers as they share trading ideas, news analysis, and discuss the market action all trading day. Subscribe to the Tiger's Den risk-free with our 30-day money-back guarantee and become part of the tfnn trading community. Tfnn Educating Investors You could be making money off the stock market and if you're already making money off the stock market you could be making a lot more. Check out tfnn and Tiger TV and get expert investing advice to give you the power to control your financial future. Go to tfnn.com and find the newsletter for you. Whether you're into trading gold, metals, futures, currencies, or options you'll get advice and analysis to help you seriously get ahead. Tfnn also features trading services with a 30-day money-back guarantee for new subscribers as well as tfnn's Tiger Den trading room, trading software, and educational webinars for all trading levels. And make sure you check out Tiger TV for free on tfnn.com or tfnn's YouTube channel for live financial content from 8.30 a.m. to 4.00 p.m. eastern on market days. Stop watching on the sidelines while other people get rich and become the investor you were born to be. tfnn Educating Investors Tfnn is excited about our new software charting program The Art of Timing the Trade Charts. In collaboration with Tom O'Brien and using his best-selling book The Art of Timing the Trade, your ultimate trading mastery system, David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-its-kind program, The Art of Timing the Trade Charts will expand thousands of stocks for Fibonacci formation setups, including guardleafs, ABCs, butterflies, and much more. The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software and it's a great opportunity. Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade Charts today by visiting tfnn.com. 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. Hello, Professor. There was a question about the volume on this right side. So what I mentioned was, occasionally, there's really heavy selling pressure in a particular stock and you get this climactic volume spike and price gap down and that says it has to be very particular. I should remember there were three that were over the last year that were just fantastic. And then what happens is you get at least 28, you can even get 56 days of an up move not coming back to retest that low. But in this particular instance with XLF this in fact most of the ones we're looking at today this is just normal sell mode action and even though the volume you've got this huge gap down, the XLF is down $1.18 to $37.41 the volume spike so far is, well the day is young I shouldn't talk about that. But I don't see the kind of volume spike that says this is a low, maybe not the low but a low, not at all. So it doesn't fit and usually if you do not do that on an index or a sector ETF I do it on a particular stock. I should remember offhand I've already done something with none in front of me right now just a perfect example of this climactic low that can give you a really good trading bounce. Why do I record it starting with an I? Was it an I stock? Anyway, it doesn't matter. So now let's go on, we're looking at those different indexes and then I also said silver I didn't get to silver. Silver right now is holding it's down 25 ticks at 22.28 the pattern is actually not that bad it's off the low let's see if silver at 22.28 over the next three sessions by Wednesday I'd say if it's able to hit 22.80 or higher I'd say that that's good action. I'll give you the same with the gold if gold is able to get to 18 I'm talking about the 1808 level but it went over that now it's back under it is 1798 1794 sorry if gold is able to close any day above 1820s now money is flowing into the gold area and you've got the bank index I wonder if I've done the BKX for a while BKX.x no it's not X it's BKX this is the Keith Bruit bank index I had this all noted I used to follow it very closely it's like the XL if it's doing the same thing it's right under the 200 period moving average right now down 366 this is the 12588 this is the KBW bank index Keith Bruit index and this is not such a great sign peak A peak B and only a C in the date each and the 13 chart so that's good and look at this arch formation in the weekly chart so we're going to be watching this very clearly let's go to KRE I don't think I've updated that peak G Rogue Wave back on the 24th of November at 75 78 this is the spider S&P regional bank fund right on the 200 period as we speak now we might be ready for a little bit of a balance intraday but I have to tell you that there's there's an oh I spoke about this the other day let me just see if I've got it right here is that the let's make that the Dow INDU so this is the pattern that we're looking at I didn't show subscribers over the weekend I should have but I kind of there was so much to discuss I didn't do that I spent it was almost like another webinar so the Dow Dark News cloud cover right there and that was at that high that was made back in November at about 36,000 for what was that for the Dow 46,000 484 I've got right now and then a pullback sharply to a key support in the channel this is the inside track propellant zone and certainly had a huge propellant up into the 36,000 36 area and now we're trading at 34,727 so the Dark News cloud cover is an overhang it's sitting there I don't think we're going to get out of it too quickly and I would not be surprised if the major thing this week that we've got to be looking at is how does the 34,000 to 32,800 what was that low right I don't want to go all the way down there don't need to that's 32,312 back in June now I'm talking about this low right here October it went down to about 32,785 yep that's what I was thinking how does the 34,000 level to 34,700 active support in this particular phase and certainly based on the dating and now the weekly charts the cell mode in the dating in almost all the indices is now accelerated you've got cell let me just go back here just I don't want to talk out of turn let's go to the spy for a moment spy type it in the right place and then get it in the right place SPY that peak F in the weekly chart and the double top 48,354 the 22nd and the spy SPY to fund on the 22nd I was retested at 472.87 less than a point this is your double top perfect double top and now we're pulling back and as I say I wouldn't be surprised today we should see some kind of a balance here but I think the way that we've turned around says that in the spy that 448 92 low is really important oh I had a question from Martin down in Peru longtime subscriber and the question was why is the sqq there it is why is the monthly magninium stochastic why those rising was the mag D and the answer is that you can't use this as a a proxy this is the three times short the qqq so we had gotten something so perfectly at 582 the lowest 569 and then we got stopped out and I never got back in this is the three times short the qqq the reason is that this gets worked off you can't use the inverted with mag D and stochastic accurately at all you can use the qqq this is the bully side very nicely and that says monthly mag D is still very strong it's turned down a hair but it's still very strong the histogram is pulling back a little bit stochastic is still at 90 percent that's fabulous on balance volume system a little m shaped pattern turned around but so far everything here is absolutely fantastic in the monthly chart weekly chart is starting to show some technical deterioration but not in the nine under the 14 because it's still nicely above so let me just go back to answer the question because this gets reconfigured at the end of the day and noise shrinks a little bit the qqq sorry the sqqqq three times short it's called the pro shares ultra pro short short what's the full thing short short short what short qqq of course I don't know if that actually say that but this is in play it's formally rectangle formation it's still it hasn't even gone to the high that was made back on the December what was it about the third or so yep the third at 704 this year at 683 and yet look at the qqq qqq is actually made almost about 378 69 it's made a lower low than the left than the h pattern so isn't that interesting and most importantly what we're looking at here is just give me a second do that do that okay okay sorry we were about to go to a break I just got distracted for a moment I had a question and I needed to answer the question so what we're looking at here this is a one minute chart someone asked me about one minute chart is trying to go towards the 200th period 4547 is trading at 4539 it's got a long way to go let's see if we can do that I'll be back in a moment are you in the market for buying or selling real estate in the Bay Area including the surrounding St. Petersburg Tampa and Clearwater markets Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property Tiger Realty has the experience across all areas of real estate in the Tampa Bay Area to help buyers and sellers make the most informed decisions across all price levels from the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating Tiger Real Estate can help you make the best decision when it comes to all areas of the market before you make one of the biggest decisions of your financial future call Tiger Real Estate LLC today at 727-329-8322 or email us at Tiger at TFNN.com that's 727-329-8322 call us today the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information David White's investment newsletter the technology insider is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future David White has made his living staying on the cutting edge of technology his weekly newsletter will give you specific recommendations for valued tech stocks as well as entry prices, target prices and stops to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week you can get the technology insider at TFNN.com for only $37.50 Sign up for David's newsletter the technology insider and get an inside look at everything the technology sector has to offer try it risk-free today with our 30-day money back guarantee TFNN, educating investors 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&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 Chairs to obtain a prospectus or summary prospectus please contact Direction Chairs 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 for Side Fund Services LLC 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 Let's move back, so a couple of questions so the answer is that the SQQQ in a monthly chart is just diminishing, diminishing, diminishing that's just the way it works so the MAGD is working on a different basis so you can't use it at all not that way, it just doesn't work that way so because it gets reconfigured at the end of every day so that's the QQQ now what's really important about this is that right here with these dreaded age passions about to test or having tested the left side low how does the market, it has two to three sessions to close sharply above the left side low in this case the QQQ 37890 went under it today, went to 37869 just a little bit under, but it is under so that's the completion of the H pattern in the objective which says it's a mini-arch that should come back and retest the left side low if it does that, how does it do it if it closes sharply under it within two days, sometimes say maybe three it doesn't close above that left side low that's very negative, you have to now wait for a brand new buy signal to be able to get a reflex action all the way to the upside and we haven't got that yet so let's just keep this in mind but in time the Q's have had such a ridiculous run I mean this is amazing right, look at that up channel you would expect that at some point just nature alone says gravity should see this thing pull back to do some retesting so we're looking at this as an orderly so far a very orderly move to the downside certainly not if you're looking at certain stocks so I was about to go to the SMHs but I got beaten in the den and said Basil MU tonight, that's micron huge implications for the SMHs yeah, so let's go to the SMH the SMH which is trading down 2.96 at 292.33 has gone to a leg C to the downside it doesn't look exactly like an H pattern but it has all the characteristics going up and then fading at a peak A coming back down and then taking out the left side low the SMH is the semiconductor area and what we're all looking at here is that the 2.90.51 was the left side low today's low is 289 what are we looking at 289 is this, oh it doesn't change so 289.38 and this is a very important thing because we've got in the weekly chart an alternate count it's almost like a right arm extension and it's gone all the way to 318.82 back on the 22nd of November and we haven't been able to break above that not me, the SMHs and it keeps coming down and making slightly lower lows and slightly lower highs therefore the SMHs to me look somewhat vulnerable right now I don't see any reason to think that there could be some news in the next week or two that's going to take it into the 320s above the 318.82 all-time high I do see a reason to say that it could close below the 14-period moving average of 288 let me double check this 288 288.49 is the 14-period exponential moving average this black line right here in the weekly chart the MACDs turned down, hasn't crossed negative Sycastics turned down, has turned negative under 80%, this is 74% on-balance volume did give a nice spike and reversal down but it's still okay but that 9 in the semiconductor index the market vector semiconductor ETF is still sharply above the 14 and if you look at MU which is micron it's forming some kind of an arch formation it had a round number 89.05 was the all-time high that same day it had an 85 round number low that's on the 1st of December it's trading at 82.70 right now and it's made a smaller H pattern within this right here so all I can say is could micron be the trigger for a really nice counter trend balance before the market comes down to test the lows that it's making today I think yes I think micron made an all-time high way back it was the body and the neck of the Chapman Wave stalk leg formation right there on the 16th of April at 96.96 pulled back pretty sharply to the 65 area I would say about 30% decline then a sharp rally almost to 90 to that 89.05 level and now it's gone sideways and this is micron which is in an area there are a couple of semiconductors as I understand it there are a couple of semiconductors that are in areas that are very specialized very specific to parts of the economy micron is one of those advanced micro devices was one I think that's yes but not in an area that is as important right now the chart that I'm looking at have been made at 164.46 all-time high back as it got into December and trading right now at 139 and you've got NVIDIA an amazing company also very important but it's making low lows it's just gone to a leg D G46, 47 was the high of the 22nd of November 319 round number law I said watch that 319 that's going to be key one by one you're starting to see the semiconductor area take a breather that's all we can call it for now NVIDIA broken down it shows signs of breaking down but that's not the breaking down that's the signs and it's right on the 14 period moving average in the weekly chart I am going to stick with this as a leg F it could be an alternate count in the monthly chart and you see that B right there that was once when it was split the 202.76 in October of 2018 then it's split and that same day October the 20th October the 30th this October the 20th there we go like this October the 20th oh it's a monthly chart how can I so should have said October I should have said 20th October and now we're looking at October of 2018 where the low is 44 round number low 73 was the high for that month so you can see what happens with splits I'd love to keep them with great companies you can keep a split in place look at apple and all of a sudden you're looking at it you're back to that level 142 round number low I said at a trough A right here that was at 3550 after the split in January of 2019 and look what happened not only does the split it goes back and then even above the 142 round number low oh I forgot to put what was the high the high was 4225 and it went to oh I don't know what the high was because it didn't type it in and the most recent all time high was 182.13 in apple look here it is digesting these guys digesting the gains this is not a this is peak D we're always looking at the 4th highest peak but it can go high look at leg F probably a peak F this week in the month in the weekly chart and a leg G C long legged look at this long legged doji candle so far in the monthly chart of apple I still say that I think that apple will benefit how it turns into profits with COVID and all it's just easy for people just to go to the site and get people apple products I think that's what it's looking like right now I'll be back in a moment when we look at the IYT as we go into the break IYT's art formation Gen H down 5 at 258 this is the IYT I've seen down Jones Foundation sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure you also need excellent instruction from experts 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 dot 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 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 dot com or on TFNN's YouTube channel and become the investor you were born to be 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 dot com the opening call newsletter is written by Basil Chapman 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 dot com educating investors are you looking for a secured investment which pays you on a monthly basis the target first mortgage program may be the program for you the best rate on a 5 year cd in the country right now according to bankrate.com is paying 1% per year or $1,000 per 100,000 invested the target first mortgage program pays 7% per year, paid monthly on secured high value buildable properties in St. Petersburg, Florida the investment is for 4 years paying 7% per year or $7,000 or $100,000 invested your investment is secured by high value real estate in St. Petersburg, Florida your investment can be anywhere from $100,000 to $500,000 you want to make $1,000 per year on $100,000 invested or $7,000 per year on secured the target first mortgage program may be just the program for you the target first mortgage program pays 7% per year, paid monthly for more information you can call 877-518-9190 877-518-9190 877-518-9190 down five. This is not a good sign. Peak D is in the weekly chart, leg D in the monthly chart probably a peak. This is telling us that regardless of what happens over the holiday season, you're not seeing it here in the price. You're not seeing that Nike is sports and sportswear. Why wouldn't there be sales? I'm sure there's sales, but it's not showing up here in the chart. The next question was IAI. Yes, we're still on the IAI. Look at this big hit. Down 350 at 104.77. Peak G, 116.25 all-time high. This is the IHS broker dealer and security ETF. Peak F in the weekly and only a leg C in the monthly chart. Now this is going to be very important because we are long. We're long from the day after the low back in 2020 at the 45 level. We've taken lots of little bits all the way up. The last one was 100% gain. I believe that was the best we've done. Yeah, 100% gain when it hit the 116.25 level on the 2nd of November. This is key. This is saying sell low in the weekly chart in the IHS broker dealer. Have respect for what's going on here folks. This is the other time. This is the time as I said to subscribe to what we've been doing. Raise cash. Check out my free call and stay tuned. Great program and coming up for the rest of the day. Just be careful. You could have a decent balance at any point. Wow. Making lower lows and lower highs. Respect.