 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 Good morning everyone Basil Chapman Thursday the 17th of August hours up 59 and 34,823 yes finally that nine-period moving average cost negative we've been waiting for that from that left side from around about July the 26th I was saying look how strong the nine-period moving average is and if I do get some kind of a top it's going to take a while and the reason why we were attempting to pick the exact top is because with the strength of this nine period moving average let me just go to the chart over here with the strength of this nine-period moving average over there it meant that at any point until it crossed negative and even just as it's crossing negative we've seen it before where there's a just a one-day flip to the downside then it goes back up you could get these spikes but if you pick the opportunity to try to identify the turnaround using whatever techniques you've got it just gives you that room that little bit of safety factor for those big pops to the upside so now we're looking at and I spoke about this for a long time internal high residual high it's like an earthquake that has an aftershock and aftershock can often be much a lot milder or about the same or even worse than the actual earthquake happens at the bottoms that happens at the tops and then I spoke about this as potentially being the head and shoulders but it's not one of my favorite patterns at all because it's too late when you finally identify it and then it starts to move down but even now that dows up 103 points look what happened here in the S&P using this one technique and I'm going to be discussing let me just do this right now and just at least I know I've done it on the Wednesday August the 23rd 4 o'clock to 5 30 this is a 90-minute webinar it's like a workshop I'm going to give for subscribers to open your corner you can become a subscriber and if you you can go to all my webinars that are online and if you don't like the service and you can cancel that's just the way it is so you get your money back the power of the 914 moving average and other indicators in the Chapman methodology so it'll be in great detail it'll talk about not just how I'm talking about it here because it's a paid service for for subscribers I'll be able to go into I can take as much time as I want as opposed to you know when you've got a show like this you got people waiting in line you got people that talking about all these other things and you want to get to them as quickly as possible this time I can actually spend time looking at all these different techniques how on earth a question came up yes and how did you how what techniques did you use to help you at least try to pick the top well first of all we don't know if it's a top because at any point you have it's only 35,679 was the high on the 1st of August where we went short and yeah we are 34,877 we're not even a thousand points down you could make up if you just get one swear one spark it's the shouldn't use the word spark one or shouldn't use the word trigger one action that really gets the market to to sort to the upside it can happen we could be back in that area of 35,500 very quickly so I used a particular technique that I've used many times before it's helped identify bottoms and tops and it's something that says to me that if you learn how to use it because it doesn't work obviously nothing works every single time it together with other factors for instance I use the inverter I'm looking at some of these positions I like to if it's possible to get an inverted so with a spy look as the spy made a top at 459.44 on the 27th of July a couple of days before the Dow then gap down never ever full that gap and I'd be a moving average churned negative a week ago but I like to look at the SH for instance I didn't in this particular instance but I'm saying look the SH gave a nice turnaround candle on the day of the low but then it hung around so you didn't know whether you were right or wrong but on this particular day if you're looking at all my indicators you'll see that that one there's nothing here that gave you that exact turnaround low and sometimes it does and sometimes it doesn't in this particular case we're fortunate because other things a hundred and twenty minute chart just say to me if this is the opportunity to do it because if you don't get it right with that nine-speed moving average so strong you want as little risk as possible okay so that's one thing so now the nine is is negative and the reason why I say that you've got to be a little bit careful in the beginning is that we've seen this before no it's a different chart pattern when you're looking at the S&P using the 914 but there was a day where it turned down like this right there may remember May May the fourth and May the fifth and it turned around but the chart pattern here is very different this is an elongated move with the downside very visually identifiable I want to just I don't like doing this but I'll do it now you've got in fact more than a one-to-one to the downside maybe maybe it's even a gauntlet I'm not sure right now but look so let's make that blue and we'll make this pink all right there this is current this is active right now there we go look make it pink color pink and we'll put it in over here and we're just about there look a one-to-one to the downside I happen to like when it's a parallel move according to a one-to-one extension and it has to go diagonally in the same direction meaning the same number of bars this has done the same but it's moved a little bit to it's taken too long all right I'm out of that notice I'm talking about that now I need to talk about other things so the reason why I say to subscribers take a little bit off our short position of the Dow this morning is because just for money management I want you to make sure that at each stage we're just taking a little bit off because you never know you know they like Dave White had this fabulous expression to take take money off when you can not when you have to and that's just that's really that's just a beautiful it just sums up money management so well and if you're a little early and you don't get the best it doesn't matter because it's it's it's using a methodology to say hey this is what I'm doing and I'm going to stick to that pattern because it it means for instance all the the AI type stocks that we had we took money off some really big gains took a little bit off a little bit off and then kept a core position and some still got a core position and others we just let it get stopped out and said okay that's fine but if you don't have the money management for instance we had a stock a very low price stock I put it in as a buy and then I said you know afterwards I said you know it's a tiny little stock tiny price stock in an area where there are some really big heavy hitters and the heavy hitters had started to come down and this was holding so well and then I thought I kind of forgot my rule like the Dow I see if the general is moving up and the troops on following something's got to give but in this particular case we're stuck out to a small loss we're out of that some other things that we've got in the energy sector one that we've got very nice very nice I'll be back in a moment if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30-day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN.com TFNN educating investors you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at TFNN.com the opening call newsletter is written by basal 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 basal Chapman in your inbox every day first time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up TFNN.com educating investors everything in the universe is governed by the Fibonacci sequence this mathematical 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variety of professional traders during market hours the Tiger's Den available to all Tigers and Tigris's for just $1 for the year there's no catch or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of TFNN.com toll free at 1-877-927-6648 internationally at 727-873-7618 uh hi folks we're back so um so the expression that Dave had thank you and see one of the uh NCL I think it is in the den Dave's saying was sell when you can and not when you have to I mean that's just beautiful beautiful statement right there um so this is what we're looking at here in the 10 minute the e-mini this channel wave inside wedge support line got hit and it was also a left side right side price time match to the little arch that was made right here in the 10 minute e-mini chart and now it's trying to rally but you see how long look that green nine-peered moving after this is what I'm going to be getting through we're going to be doing it um I'm doing it at four o'clock so we will have a little bit of live action in the S&P e-mini's or the or the YM the the down e-mini so I'll be able to do some of this live because I want to demonstrate um and talk about some of these techniques and look the nine-peered moving average in the 10 minute chart this morning I wasn't up at three uh 2 30 this morning at 44 20 turned green and it stayed that way all the way to right there at 10 o'clock or just about 10 o'clock at 44 20 so what do we have we have a move that goes from 44 20 to 44 20 and that's the thing that I just I want to talk about a lot about money management and how you can handle these things look that's a fantastic gain from 44 20 to the high when in fact the market closed yesterday that was a horrible horrible close and yet this still gave and the chaplain wave uh shrinkage was a gain very very high which said that the S&P e-mini should have a 12 to 15 point rally at some point which would help the market if it's during the intraday but if it's overnight it should it should still have that within two days well it had overnight because it went from the low and the 44 um around about 40 409 area all the way to the 44 uh where was the 36 I mean that's a big move so in terms of looking at this moving average 44 20 to just go into a peak D and letting letting that green move up and there was a big spike up anywhere in those three bars you could have taken some profits and that's the way you do it 44 35 so that's 15 S&P points now it's turning down and I do have the arch formation but this is always just a guideline I also haven't yet put in what could be the arch formation right now it's more like a rectangle formation going sideways so I always put these patterns and I'll discuss these patterns you know I talk about a long rectangle narrow rectangle pattern or everything that pertains to it so within that context it took a little time to get that there it is within that context we're just kind of stuck here but this is do you remember when I said about three weeks ago and then two weeks ago I said for a major cell mode to unfold when the nine-period moving average is so strong you would have to see like a minus 48 to a minus 53 S&P futures decline with a down down 385 to 425 points then the market opens really badly then it tries to ready but it closes at the low of the day and then it has to do that for like two three days and you have to have that VIX index really pushing very sharply higher so this has been a roll over it's been a very steady move to the downside and when it does that that's why I said to subscribers this morning take a little bit of I mentioned in the den at this point identifying the tide is the most important aspect and I will explain when I get back so I'm back and now let me show you what I mean I'm going to go through each of the indices first of all I was looking at this overnight and the reason why we are in an energy related stock is because I think this energy area is pertinent to areas that have held very well they could still see some buying in this particular phase I'll have to clarify that in a moment but let me show you so and then I looked around I'm looking at all these questions that came in and in the Tiger YouTube baseball says XOM the cash bull they keeps on giving and it's little brother CVX and then this goes on to say XLE was on sale the first three days of this week and I hope all loaded their wagons with the black with the black juice party boat because he always talks about crude oil as being the black juice absolutely so look at the XLE there's a pattern look at this in the weekly chart there's this pattern I call the falling x formation I suppose I should just clarify that right there it's this pattern where you make you run up sharply then you make lower usually add a peak D or C1 C2 whatever it is or an E but anyway you make a top and you start to make a lower lows and lower highs it can go on for a long time or it could be very brief sometimes it's so brief it's like right here in the XLE it did that uh right at that peak F on the 31st at 87.73 pulls back just for two sessions he has the pattern I'll make it I don't like it to get too cluttered but I'll do this right there making lower highs and much lower lows and then breaks out and it goes one to one to the upside this one also pulled back sharply then gapped up then a full the gap and now it's it's working very nicely see the magnies weak the stochastic is at 68 percent weak on balance form had this double top it's pulled back look at that nine-period moving average this is go to my 914 chart right here and it's put in the XLE XLE and you'll see what I'm talking about look at that and it's done before it did go pink for a little for about a week or so back in mid-June and then it went and it was green in mid and early June and mid-June was pinker then it went green and it stayed green and we've got almost as a big cup formation with like a cup and handle right so this is very important so it's showing strength and the nine-period moving averages moved up again yes it could make the M shape pattern that says whoops what's the right side but so far it's acting well so yes congratulations eyeballs I know that's that's been your plan and it's worked very well let's just have a look at X on because XOM right so this one look how sharply it pulled back and look at that nine-period moving here it said not with me buddy I'm still looking great and it is looking great so that's that's important and CVX doesn't have the same chart pattern it's not quite as strong as XOM but also holding very nicely the nine is a little closer to turning down but it hasn't yet so yes I like that so energy is something that you got to keep in mind as it is viable rather than say oh it's fantastic it's a viable option right now as and as perhaps an alternative to the other areas as I say like I promised I said a couple of people asked could you look at look at some of the semis yeah so yeah it's a semiconductor index we did this yesterday I was asked about the SOXS someone had gotten in we are short we're actually a little bit aggressively short the semis and the SOXS we've got positions took a little bit off after that we took we're along from way down here under nine and that was a position that we took then it crossed positive the nine-period moving average and it went to a peak B and I said I think it should pull back then it should go to a leg C but the level 55 doji candle high right way back here in June I was asked by some people who said it might not be around for the next week or so where do you think it's going and I said I don't know but 1155 would be a target a possible target I'll be 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 keg stats tiger forex report teddy keg stat 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 60 minute webinar archive he 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 steve road started his trading career as a student almost 20 years ago and the student has now become the master steve won the 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you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv live every market day from 8 30 a.m. to 4 p.m. eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors 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 hi folks so the dowels up 93 uh yes the scp is out 3.85 a bit of divergence and as i said i think the dowels definition that's the sponsor this is z john in fully on the line john how are you battle i'm doing very well uh thank you for taking the call sir my pleasure yeah what's the question i'm going to ask your assistance please specifically on the nasdaq composite index uh i believe the ticker symbol on that is c o m p yeah my my symbol is dollar c o m p x but that's okay everybody has different symbols of different trading platforms yes um i called you back on august 1st and asked you the specific question on the big indices uh if you saw the potential for trapdoor selling i guess is correct yes well we've been getting sell it's trapdoor selling or not i guess we could debate but um i wanted to ask as the nasdaq composite and the 100 nasdaq 100 are both making uh lower lows for the move here right now uh my question is could you please go through um the lower targets that might occur given your work and what sorts of things you'll be looking for for clues of bottoming action uh if you could help me with that i'd be much obliged and if i could i'd like to take your answer off air and just listen in uh the tigers den and tiger tv thank you john for that question and you know i had notated this when you had spoken because every once in a while i lose this data i lost it again so i'm busy doing it in a bit of a hurry here so it doesn't matter i don't need that i don't need that anything other than the chart pants i'll answer your question you can go off air i know you're in the den you'll be listening so that's a it's a good question because the comp is really it's it's the bigger picture of the of the nasdaq so this is a really good question it's appropriate to to work on it right now so let's go so the comp index is down 47 at 13 426 now you don't need to have all these fancy letters and all that just i love to say i could take a naked chart that's just the bear chart it doesn't even have to have candle six on it i like the candle six because it does two things for me immediately the little doji candle that i seek i see right at this double top right there are a lot of things that the candle itself when you use to the bars you can see the same thing it's just not in color that's number one and number two is i love the way when i have it it just opens the chart out when you've got the bars to kind of get stuck together and since i'm really the most important thing in my notation in the chaplain wave is to talk about peaks and troughs and label them from the from the bottom identifying a low going all the way up you can go peak a b c d e f g there's never an h you have to consider that's been a reconfiguration you've got to find out what it is and or restart or something like that on the way down and it's uppercase on the way up lowercase on the way down that's as simple as that at pd the object is to get you to d other things can happen so just on a purely visual basis in fact i wonder if i i'm going to do that now let me say i'll take a chance and see if i've got the naked chart right here i can use that so i'm going to go to i think it's this chart i hope it is let's just see click uh open it out yep this is it so let's do this this is uh we've got it i'm going to open it up make it nice and big and we'll deal with this as if it's a a data chart and i'm going to put dollar c o m p x and there we go we've got the comp index i'm going to change this to a data chart and on a purely visual basis look what we've got i can take a straight line and do this and say wow look at that this is absolutely key support all right i say oh wait a minute maybe i can do a channel and if the channel gives me any information maybe that's going to tell me that i can maybe do a channel on the downside because that's what happens it's like a midpoint of a channel well lo and behold there is a channel but it popped out of it a couple of times called the channel we've inside tracked repellent zone and it's topped out right at the line that came down so what i sometimes do i just arbitrarily do it i take this and i say okay if that's a midpoint just visually let's just have that put in there to say all right let's make it uh and that that just sits there it doesn't mean in fact i'm going to make it very light i'll make it dashed and then we'll see if anything touches it and i'm doing it visually remember so it means that it might be off by a fraction but i'm pretty good at this on the visual side so let's just keep it there that's number one and then i say okay we've already taken it for two days we've taken out that support line so that means this line can go bam i don't need it anymore it's it's full full this function of being a repellent zone bam it's gone this line can now become the dotted line dashed line why because um it's kind of served this function okay that's straight lines now the next thing i'll look at is horizontal lines well this low right here is at uh 13,334 this is the comp index this is the larger i know two thousand something stocks in the comp index so this low of 13,334 goes peak APB and i remember that this was a question whether it was a continuation of that pattern or not but it doesn't matter i'm going just for the moment i'm going to call it um peak APB peak C1 and C2 just for the moment i don't have to do anything other than that this is history i can call it anything i want but it's arching over then i say okay if i was here and i did this on the QQQ as the other day i would do a left side right side price time match where would i go to normally i'm a little conservative i first go to the to the previous high and then i say you know it looks to be very we'd have to pull back really sharply so the other rule of thumb i have and i talk about this with subscribers is i go to the trough of this double top that's an option so i go to the trough of this double top and i say i think it needs a little more time and then i go click and i say left side right side price time match i love when it's the plum line right in the middle but sometimes it's not um but i have techniques to identify it and i put that in and i make that green because that was on the way up and then i put that in and i put it on the way down and then i would take a particular peak or a gap or something on the left side and i'd say can i do this make this a diagonal line that goes to join where i had i don't want to do that right now because i want i don't want to show you the other side so within that context i'm this is what i'm looking at i'm looking at an arch formation a little aggressive would say i take it to the exact midpoint but i'm looking and i'm saying well it's still trying to test the highs i'm just going to think that it goes to this particular doji i love these candles over here and now we'll look at the right side and where did it go to as we're speaking it's going to this particular point right there if i had put an x in it would be almost at the x so that's the first level i'll be back and we'll talk about the rest of the rest of the story cows up 60 sbs uh unchanged old 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 obrien 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 obrien's gold report newsletter now at tfnn.com are you ready to take your trading to the next level introducing tom obrien's award-winning newsletter market insights your key to successful active trading tom obrien renowned for his expertise in the 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 trader or just starting out market insights provides the edge you need to navigate the markets with confidence ready to join the ranks of successful traders head over to tfnn.com and subscribe to market insights today don't miss out on this opportunity to supercharge your trading results market insights comes with a 30-day money back guarantee for all new subscribers so you have nothing to risk don't miss out on this opportunity to revolutionize your trading game head over to tfnn.com right now to join the thousands of traders who have already experienced the power of tom obrien's award-winning newsletter market insights firsthand 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 lab u or lab d directions daily s and p biotech three times bull and bear etfs visit direction investments dot com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-476-7523 the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor foresight fund services LLC this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz so let's go back to the comp index and we're looking at this arch with the left side rights and i use this is the price time symmetry right there but each one is different so when i go back to the low of early june of 30 3089 i could go use that same midpoint but that looks to me at the acceleration that is coming down now to go to the september the ninth that just doesn't look right to me so you remember this is if it was automated i probably couldn't have if i had these choices it would drive the machine absolutely no to drive me and the machine nuts so i do this just in experience and i and using techniques that these are tried and tested techniques so all i can say is in this particular instance my thinking is it's just way too long to wait so this is the one i'm using from here to the exact midpoint why because each one gets its own character you have to you can't just use the character of one particular aspect and say that's going to fit everything no so i'm using this particular one right here with that doji candle high and that says by the 20 by the 30th of august so 30th of august says two weeks time i mean that's even that's too long because i think if this is going to accelerate even if we get a bounce it'll be a little earlier than that so this is the line to me that is most important the chapter we've inside wedge target support line so let me make it dash maybe make it pink and it says we could bounce at any point from here for a little bit lower down and the low that was we're talking about two lows we're talking about the low of the 26th of june of 13,334 and then the little higher one at 13,366 so the 13,360 to 30 area in the next couple of days if that's taken out that's and if today i can just tell you if the dark closes at any point on any 30 minute charge closes minus 30 at any stage i think we can see quite an ugly close and this is a really important session so that's the way i would look at so that's the daily chart remember i'm only going very slow and i'm saying this is going to be the support level it's a rising trend line the whole 12,008 to 900 area is my first real big support and then i'll say wait a minute if this keeps coming down like that now i can go to uh where did i want to go oh let me just show you this before i go you see he has the five minute chart because the 200 period e-mini of the the e-mini uh was it couldn't even be a propellant it just went right through it now it's a repellent zone but look it's still pink and it keeps coming making lower lows and lower highs uh and this trend line the reason why i wanted to show you is in the 10 minute chart the dashed chaplain wave inside wedge target support line has held as support keeps holding when that breaks then we will start to see a deeper decline so that's what i'm looking at there so i want to go now to the real charts john let's say if at any point the uh comp index i've got it all in the cues and i'll show you in a moment if the comp index actually gets to the 13,200 area it says to me that on the weekly for the very first time we've got a sell a potential just a sell signal to get the nine to close under the 14 period you'd have to look at below 12,500 so this is a this is a fantastic indicator it's just saying this internal strength um so be careful and the monthly chart is still strong but this is the one to watch so that means this doji camera here that would be it all coincides with what i'm looking at so this whole area here of 13,385 to 13,089 for this candle that's the next key support level if um if it turns down and i get a sell signal it's going to take a lot we can still have a decent rally this because of the green and the weekly chart so i'm saying the daily chart is in a sell mode weekly chart hasn't yet given a sell signal we'll see at friday's close so that's the way i'm looking at and i'm only only going step by step if i went by eye and i said oh my god and i wasn't looking at the 940 and i look at this and i say whoa secassi's giving back a lot mac d everything's the negative um i would say oh 12,500 i can't do that buying is going to come in at any point even with the smhs uh look at the smhs i want you to do this and i'll do it in a moment i want you to show you um the weekly chart even with a sharp two week pullback this is the third week now and it's not really a big pullback for the for the week um that it's still green is a way over the 14 period but look at the weekly weekly i mean the day the data looks horrible so but that said let me show you the qqq maybe you can use this as well because i had questions about it i've got written down as a qqq the qqq um is not quite it doesn't quite look the same as the comp index because it's just the 100 stocks it's the invest your qq trust series so my my first real test here will be the load that was made june the 26 at 357 and all the time 357 58 and all the time i'm looking at this i'm saying any spike to the upside has such resistance 367 is the pink nine period moving average in the daily of the qqq 369 is the 14 to get the pink to turn positive you'd have to see a couple of days of trading in the 373 area i don't see anything right at this moment to get us there so john i hope that helps you upside resistance is kind of negative the downside is a little open until these particular support levels are taken out and then you go to the next level in the queues the next level will be down here at the seventh of june low 348 but i don't want to talk about 348 when you're 361 but i haven't got evidence that the weekly chart is even giving a signal hope that helps you so a couple of questions that i needed to get at you i think i've forgotten a bunch of other things that i want to do yeah hgx oh i was talking about the tide so what i wanted to show you is this look the estimators have given one of the the biggest signals in a long time to say on the shorter term there's a tremendous amount of weakness so you don't want to even in the market now john you'd be the perfect person i was actually going to use you a little earlier as the the example in the den there are other people as well but i thought i'd use you because you get mentioned so much because of the great work you do um who identify a trend and then say this is the trend therefore anything i do against it i must find that chart from my cd using chamois it just visually is so perfect and what it does is it shows you that when you identify the trend correctly you know when you throw a piece of driftwood out and look if i did this oh i don't like to mess the chart so if i do this doesn't it look completely wrong when my arrow is going like that because if you were shorting at any point you'd have to do it really quickly you could be perfect that's great but if you were long and wrong look how the tide the rising tide saves you you want to go long on the up moves and shorten the down moves i'm going to write that down because i tend to also sometimes make that mistake so that's what i'm looking at here and as a result um this is the trend and now let me show you something else in video nothing to see here yet look it's just sideways it's got the falling axe formation doesn't broken up but wait a minute um the text wheels are negative and it's got the pink ninth period moving average so that's what i wanted to show you if you go to intel intel got slammed it's right on the 200 period moving average i'll be back does up 71 we'll be right back tfnn has just launched their new trading room the tiger zen 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 tiger's for just one dollar for the year there's no cash or added costs when you join our community of traders in the tiger's den you can look over the shoulders of tom o bryan and the other tfnn hosts while they analyze charts during their live tiger 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if it doesn't it's a 63 if it can't get to the 65 65 area by next week the the weekly uh technicals are going to really deteriorate a lot and that includes the monthly so this is not a good sign at all this i wrote it down um hgx that's the um philadelphia housing sector index finally the nine period moving average closed negative i think there's a rectangle formation plus the big arch formation pd i think this is heading down it better hold up it's 555 it better hold the 549 support level looking at apple apple is trading very negatively the left side target of 170 is going to be really important 160 is the 200 period moving average i suspect that it could go there meta uh meta why don't they say meta facebook facebook is uh down it's testing just about to test the left side low at 292 if any day in the next three days it actually closes below 288 that means that it's testing the 283 would be the 14 period exponential moving average support looking at the fcg i didn't finish doing the notation there fcg looks really good first national first trust natural gas isn't this interesting that this natural gas fund is doing well but natural gas is looking terrible itself so yeah this is looking i'll do a little bit more on this one tomorrow in fact all of them tomorrow this is holding well um so if you're along i think you're long uh keep holding i think i've got all those questions i'm just going to say have a wonderful rest of the day stay tuned for ski bro should be great programming here and i'll see you tomorrow check out my opening called any newsletter don't forget about my webinar coming up Wednesday this Wednesday