 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 internationally at 727-445-1044. Now, Basil Chapman. Hi, everyone, Basil Chapman. This is the Tiger Technician Hour, and we're looking at a dial that's up 394 to up even more. A little earlier on, it went from yesterday's low to 24,701. 3,000 points above the December low after going 5,000 points to 26,695. April the 23rd comes all the way back to, it pulls back 2,000 points, and now it's had a 500 point, 400 and somewhere, a 500 point rally from the low of yesterday, but it sounds like an incredible thing. Hey, wait a minute. Four days ago, it had gapped down. Look at that red, ugly bar right there when it went right through the 200 period of exponential moving average. So here are a couple of questions that I've had. Let's just do this one step at a time. There's going to be a lot to do. I've got questions. Let them just line up. I'll get to them. There we go. Step by step. The reason why we went along yesterday morning is the very same reason we went short one day before the recovery high of 26,695 because there were technical indications to me that said that there could be a turn to the downside. I made this thick black line here, the 14 period of exponential moving average. I made a nice and thick, made a big black line. Looks like a little snake there. But I made it because we kept, after breaking above the nine period, the green moving average and the black moving average, the 14 period moving average, we started to test. And it said to me that the next rally could fail and that we will go underneath the 14 period moving average. The magnitude would turn down because it wasn't running anything like it had on the rally to the 26,241, 25th of February high. Look at that, how strong the McDean stochastic was. This was like a ready failure mode. So it said to me that if there was a move to the downside, we would get a sustained move and that I would use those same indexes to say now we're getting ready for at least a decent bounce or this would be the case where we're looking at a turn up that was so strong that in fact, it could in fact be a key reversal moment because the Dow wouldn't go much lower than that. Well, I've compromised. We've taken nice profits in the short position, kept a core position, and at the same time gone along a tradeable position yesterday morning. Fortunately, we've got this really strong movement that allows us to now set in place some kind of stops so that at worst we won't make as much as at the high today, but at worst we will at least make money based on our good entry. Look at the stochastic, the way it went right to the, I think it was 11% to maybe I'm wrong, 13%. 13% level, no, no, no. Yep, yep, 13%. And it's trying to flatten out at 14%. It hasn't spiraled up to the 20% level, which would be way more positive yet. Look at the on-balance volume. It went down, but it didn't go to a very oversold condition, but it went to a kind of an oversold condition based on the pattern, Trough D in the on-balance volume. Now what we're looking at is this is a good start. The weekly chart says, you know what, you could start, but there's going to be a lot more work that has to be done to get the technicals, the magnesium stochastic in this middle chart, the weekly chart to improve, and the monthly chart, the technicals are pretty weak. The price is thank goodness now, instead of being below the 14-period moving average, it's above, but it's still below the 9-period moving average, the green line there. A lot of work has to be done, and that's what I wanted. I wanted us to have the core position of the short side, because I think there's still going to be some further testing, regardless of where we go in the shorter term. For a trade for subscribers, I want you to do the long side. I just wanted to explain that because I had a couple of questions about it, and there's a position that I've mentioned to subscribers that if they wanted to take today, there was a position they could take, but they got to be prepared that the Dow still could fall 1,000 to 1,500 points from yesterday's low. So you got to be prepared. Why? Because nothing has really resolved at this particular point, geopolitically, politically, economically. The rate of gold is going, that's a geopolitical move. Holding very nicely here. The way the TLT, I said, I look at the TLT during my update, look at the TLT. The U.S. ISHA's 20-year Treasury Bond ETF is trading at 131.01, down 1.38. It had a high, a recovery high of 132.58 yesterday. That is a multi-year high. It was back in 2016 when we were at this level. We haven't been here for quite a while. At the same time, when you look at yields, you could go back a long time and say, hey, wait a minute, these yields have been here, but that's been an extraordinarily quick decline in yields. So they have a little bit of room to go to the upside, but it doesn't have to be earth shaking. Now, this is going to be very, just to my way of looking at it, this is the way I'm looking at the technical aspect of the TLT. I'll just snap on the bonds here for a moment. Bonds making a peak deal. There's no new recovery high today, down one. Having hit a recovery high, it's the same as the TLT, but I'm using one because some people like to look at the actual contract, continuous contract going to 155 and 132. Trading right now at 153 and 1930 seconds. And Magdy is still strong. Stochastic's holding beautifully at 92%. Unbalanced volume said that we were, what I said yesterday when we were looking at the TLT, that my unbalanced volume reading the blue line, yeah, this is Joe Granville's way of looking at volume. I look at volume through the unbalanced volume. Other people look at volume in all different ways. Whatever you do, good luck to you. Just be consistent. And that's all you're asking is for something that you can make a pattern based on the consistency. My impression here is that the stochastic is strong enough that it'll take quite a while for bonds to go underneath 128, the 14 period moving average for that Magdy to actually cross negative. It'll take even more than that. It'll take time and price. Stochastic at 95% is excellent. I put here Tina, which I heard just about a month or so ago for the first time. I'd heard it before, but it just didn't strike me as important. And then someone said, yeah, Tina, there is no alternative. And that's really what we got to be looking at in the stock market. But in the meantime, there has been an alternative and that's bonds. That's why money came out of the volatility, the weakness of stocks going into the security of bonds. Now, make this real clear. If the stochastic holds in the 90% area and bonds only pull back from 131 in the TLT to 129-ish, even 128, but then hold at that higher level, high level consolidation, you could chop around here as the market continues to try to form a really strong base for a much bigger move later this year. And when later this year, later this year means it could be trading now at 1214. Later this year is 1215. We don't know what's going to happen over the while. We've got a pretty good idea that bonds are probably not going to go to 128 in the next two minutes. But I'm saying that looking out, there's a chance that when bonds start to come down again, which I'm sure they will, as yields go higher, as some kind of normalcy returns, the stock market will start to find its legs and move high in a much more concerted way. I'll be right back. Basel Chapman Tiger, Nishizawa, Gaza 392. The TAS Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. Whether we're in a bull or bear market, a good strategy is to have the tools needed to help you scan and analyze the markets before you trade. The TAS Profile Scanner instantly scans and filters over 2,500 global financial markets, such as stocks, ETFs, commodity futures, and forex. 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You can still visit us at the same TFNN.com URL, but when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com, educating investors. Call now. Toll-free at 1-877-927-6648. Internationally at 727-873-7618. Hi, folks. We're back. I can't remember where I was a moment ago. Let me just do this. I had a question here at the SMHs. We're still short of positions that's left having shorted from the 116s and 12071 was all-time high and it plopped down to 9761. Now it's in leg B in the daily. And the question is, Basil, do you agree with the SMH 120 minute is in leg C? If agree, will you feel confident in using a call option for leg D? So thanks. The reason why I didn't want to change our positions in the SMHs and in fact, flip to the long side, which is really, that would have been ideal to do is because I think this is still an area that is volatile to the extent that at any moment and it could happen overnight, there could just be a knock to the downside. I just didn't want that at this particular point. So, and I don't want to get my thinking messed up, which says that there's a really good chance that this is the area that it has been the weakest. It should remain the weakest. That's not to say you couldn't have a pretty darn good rally and in fact, going from 9781, 9761 to today's high of 101.41. Hey, that's pretty good. Just a couple of days. Now, the reason why I love this question is it means that the person asking the question has been very observant in basing on understanding the Chapman Wave Methodology. Let me go through this yet. This is the 120-minute chart of the SMHs. The SMH made a low on the 29th at 1130 eastern time of 97.61. It had a nice rally and then made a peak A, a gray peak A. Why is it gray? Because it's underneath the blue. It always implies that it's going to a buy signal, to a buy mode. So, I'm calling you a gray meaning that it could fail, which it does. And what it does, it makes an arch formation as the MACD is rallying strongly and the stochastic has already gone way over 80% and then it pulls back sharply. But on the last pullback of the arch, it doesn't go to the right yet, to the 97.61 level. It goes to 97.65 at 1530. That's 3.30 in the afternoon eastern time. On the 1st of June, the very next bar has the same low, 97.65. That means that that peak A is still active, number one. But in the methodology of the Chapman wave, every peak in every trough needs to be countered. That's your only obligation. It's not difficult, that's just your obligation. So that means that that little peak right there, even though the next bar was way lower, the low that we're taking is this 97.61. And that stays all the way until it's broken. And that says that this particular peak A, let's call it gray, I'll just change it to gray. It's a little bit of a nuisance to change it to gray. It's first, it's a second A. It's a little bit lower than the previous one. Going above that makes the leg B, and there it is. It goes to leg B, gray leg B. And then, and this is the part that I'm proud of, that this person really has understood the concept of the whole Chapman wave methodology, there's a breakout to the upside after holding above 97.61. You go to your leg C, and the high of the bar for 1130 this morning was 101.41. And the high of this bar right now, going to 130, is the same level. So this is still a leg C. So the question is, is this a good time to be buying maybe an option, just a call option for a quick trade? And my answer is absolutely yes, this would be the time. The stochastic has come back, it's running well. I'm a little concerned when I look at the relative strength of the on-balance volume, it's flat. So it's not showing real buying, I would have preferred if this was moving much higher. So this is what I'm going to say, this is not the ideal vehicle, because this is the vehicle that at any point, the billions could be announced for May, and this thing could really pull back. Based purely on a technical aspect, saying I don't care what comes up, the MACD is turning up in the daily chart, the stochastic's finally gone from the single digits to 10% the double digits. On-balance volume is trying to rally, look the relative strength is rallying. I'd say if you took the 100 call, meaning you're going to pay up, and you're probably going to pay over a dollar and a quarter in premium. So let's just say it's trading at two and three quarters, maybe three and three and three and three point 15. You're going to have to have a, it's going to do, it's going to have to do everything perfectly. It's going to have to make a peak C with a very modest peak C. It hasn't done that yet. And this C can continue. If the market gets its second win, now it's a 401, there's to be a 42 after a little bit of a breather look, the two-minute chart, look at that beautiful peak E. Look at the five-minute chart, peak D, and look at the 10-minute chart, peak E. And that could be it. When you get powerful moves like this, they don't want to hang around letting people short. They want people to be trying to get wrong. So this might be just a brief timeout. So this is tough for me. What I would say is I would absolutely, I could do it now, but I just, I don't want to mess up. Just in case I mess up my program here, going to an extra window because it just might do something. So let me just do this. SMHs on the Chapman Wave projections. The support in 96.86, look at that. It held beautifully, 95.55 in the weekly. This could be, in fact, turned out to be a much stronger, shorter-term balance. So this is what I'm going to say based on the 120-minute chart, 101.72, 101.71, returning at 101.08. Oh, okay. I think I have a plan. I'm going to say, don't get carried away. I think you're going to have a lot more opportunities. And I will also, in fact, yesterday morning, I was going to buy the diamond calls with the position that we got. But I just can't make it too complicated, you know? It takes a lot of time for me to have to type all this stuff up, talking about it in just a few minutes. Typing, you know, it takes a long time. So I'm just going to say I would, it depends on the premium. If you're going for the 100, if there's 102.50 call, and it has to be to, what are we now? So June 1, 2, 3, go to the 21st. I'd get the closest call position. If it's a 102.50, then you might get it for 1.35, 1.55. I'd say that that's, I don't want to go out too much. Don't get carried away here. Go for the 100, and you're going to have to pay at least one and a little bit for the immediate premium. And then you have to pay for the option premium. So if you can get the hundreds for two points, why don't you put it in for $2.05? Just take a chance that there's going to be some kind of a dip in the semis later today, or to make a peak C, you want to play the peak, the leg D. Don't get, let it come to you. I wouldn't go for it. Okay. I don't know what they're trading. I'm just doing it because I used to do so much in options that I haven't. Some kind of an idea of pricing. I suspect that the 100 going out a week and a half, maybe there's a premium of one in a little bit. So if you can get the 100 for about $2.10, $2.10 with $2.05, maybe that's the way to go. All right. Yes. There we are. I'll be back. Basil Chapman tight pieces out guys. I'm fine. You'll be fine. Since 1984, Basil Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion. While originally hand drawing charts from the late 1970s into the 1980s, Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later, Basil found the computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls. Thus was born the Chapman Wave sequence. Using the Chapman Wave methodology along with other indicators, Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now you can get a two week free trial to the opening call, Basil's daily trading newsletter, by visiting the front page of TFN.com. Cancel at any time during that trial and pay absolutely nothing. 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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 that will even give you a 30 day unconditional money back guarantee. 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, we're back. So, yeah, UTX, my downcore tech. UTX is doing very nicely. Up 2.27 today. Triple M should be up at least one. Up two, up four. Oh, look at that move. A triple M, 164.39. Lovely. IBM, up one surely. Up 3.56. Very nice. What am I missing? Oh, Caterpillar. Caterpillar is up 1.28. Now it's up 1.30. Yep, all of them are very nice. So, Sintas, my Dow, my cash index, C-A-S-H. Sintas is for the C. Trading up 1.81. It's holding nicely at the higher level. This is overalls, uniforms, rentals, tells me about the economy. So far, so good. Sintas is cash. Amazon, let's see where Amazon's trading should be up at least 20. Up 28. Not very good. Up 28, it's 17.20. I think it needs more time. Cash is spiced. Spice is up really nicely. Spice is up 157%. Up 431. At 27.87. Nice touching the nine period expansion. Moving average. Home Depot. Let's see what that is. Home Depot is up 5. That is nice action. Good. So, the question I had is, do I think that this is a low that could be not just a tradeable low, but it could be a position low where we don't come back and take out yesterday's lows. And the answer is, it's really difficult to see, but I do see a base being formed that says down 25,000 to 24,600 area. Could be a really good cushion. Even if we go up, it could be doing some retesting there. Same thing with the spy. That we could be coming and doing some retesting. But what's really important is I want to see areas like the XLF which is trading up 0.56 at 2674. They've got to sustain a move right now. The whole area that to me is very important. That's one thing. The other is, if I I don't know if I did this, look wheat. Didn't I do this? That's a big move down, down 12 from 507, but it had a spectacular move. Leg C, I think it's going to hold the 500 and 2 to 498 level. Then try for a leg D. Soybeans trading up four and a half at 883. A leg C holding quite nicely. And then corn, ah, corn. Corn is down. No, it's up one and a quarter now at 425 and a half. Yeah, it's in that higher level. I think that these are going to squeak. And the biggest move now is they're going to make slightly higher highs. One of the reasons why we got the DBA for subscribers is that it's at 16.66. This is the DBA agriculture fund. It's not an ETN. It's called a fund. And it called me ETF because there's not a stock. So it's a fund. And I like this, but I like it more as a trade that's going to tell me later on about inflation and a whole bunch of other things. So even though we have it, I really am treating it more as we've never had this before. So it's kind of an experiment. We're up very nicely, 8 or 9 percent. Not the point. The point is that it is, how can I put this? This is a massive single leg A to the upside in the weekly chart. And it hasn't even started in the month. It's just been hammered. Can this be the turn in the market in the agricultural sector? I just don't know. It's not my area of expertise at all. I'm just looking at the chart and I think it has a potential to at least be forming some kind of a base. Just a quick question. I didn't do silver. Gold is up now .7. This is holding really well. And silver is also holding quite nicely. Above that downtrend, the down channel line. It's started before and then failed. This time I think there's a chance that it's going to hold for two reasons. The dollar just needs a timeout. It's doing very nicely here. It's up .06. I just think that the dollar is going to be digesting gains. And the dollar is for me the American icon of international currency leadership. Because it is economic leadership. That's kind of the way I'm looking at it. Boy, I could be completely wrong. But that's at the moment what I'm looking at. And I'm not cheering for anything I'm saying. This is what I'm looking at. That's been my thesis for at least a year. We've been long since April of last year. And I don't know if that's going to really work out. I'll only know it's working out when you see the dollar sometime this year. If it does it, it has to be trading very comfortably in the 99s. Giving back very little. Here it is at 97.30. It's got a long way to go. I'd actually even say in the hundreds. Over 200. So that's a long way to go. Question I had. IYT. We spoke about the IYT yesterday. I said, wow, Crudeau is pulling back, pulling back. And yet you haven't had anything in the transports when we looked at the airline index. Well, today it's at 4.40 at 180.38. The iShares Dow Jones transportation average index fund all time high 200.42 I'm sorry 209.44 in September. Pulls back to 155. Conquer that a pullback is 25%. It's a huge pullback decline. And then it rallies huge to under the previous high of 209 it goes to 242. April the 24th. Same day as the Dow pulls back very sharply and goes from 200 down to 175. Another 25. That's a 25 point pullback. So yeah, we're looking at a balance here that's taking out for the first time. It's taking out the pink nine period expansion moving average in the data. It's got a long way to go get to the even the 185s suggest that transports only then at the weekly 14 and nine period expansion moving averages got a long way to go. Okay, I think we've got all VIX index. The VIX index should be down sharply. Yes, it's down in the 17s at minus 143. But even in the 17s, that's very high. And that's saying, yeah, people are still buying some insurance. So I'm looking at the VIX as if to say, this is a potential Chapman wave right shoulder failure pattern. And if the VIX trades under 16 in the next three days by Friday's close, if it has even one dip under 16, that's going to suggest that this rally that we're looking at right now could have a little bit more legs in time and maybe in price. I don't want to get too carried away. Just let's go one step at a time. I was asked about the EURUSD when I was looking at the currencies. Yeah, underneath the down channel 1.132, I'd say resistance right now is at 1.124. A nice move, but nothing great. We've seen this before. Nothing to see of folks until the Euro is trading in the 1.142 area. It goes there. The dollar is going to be pulling back to the low 96s or even lower. However, the USDJPY and this is really interesting for me has traveled in the same direction as the dollar for a long time, but lately has been diverging. It's been very weak, very weak. In fact, the yen is at 1.08 18 trying desperately to do something is up 0.12 at 108.18. This is not a very good sign and that says let me look at the Nikai, the Japanese index running today 165 at 20,630. Yeah, this is going to have to have a lot more work. I don't know if this is a direct correlation, but that actually looked very much like the yen until today's action. So today is very strong, but nothing like it was two days ago when it dropped from $20,965 to $20,380. I would call that a bit of a pull back. So yeah, it's got a long way to go. Puzzle Chap and Tiger will be back. Oh, have I talked about my webinar? A webinar coming up tomorrow night a week? Call the tide. I'll be talking about the tide. I'll do that when we get back. Hi, folks. Tom O'Brien here. If you'd like to get my daily newsletter and market insights, then now is a great time to sign up for a 30-day free trial. Every morning by 9.30 I send out my morning letter to subscribers with market commentary on a variety of markets, currencies, and commodities to keep investors up to date on the day's trading action. Included in market insights are specific buy and sell recommendations for stocks, ETFs, and even options which stops and price targets included for every trade in my newsletter. If you'd like to try my newsletter risk free for 30 days, then head over to the front page of TFNN and you'll find market insights under Trading Newsletters. I use my years of trading experience to bisect and dissect the market every morning and give my subscribers the most important information they need to know for the day ahead. I even issue afternoon updates for my subscribers whenever warranted with important market action. 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The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor Four 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 and hit watch Tiger TV. That's tfnn.com and hit watch Tiger TV for the latest market information. I just have a question I had about resistance levels in some of the positions. If you're looking at gold, gold continuous contract has a lot of resistance in the five minute chart in the 1328 to 1328 area. You can see it's just done an A, B, C, D, E, F. P, F right here in the two minute chart so it's pulling back a little bit. It's done very nicely. The question also is in terms of the E-mini, were there signs that there was resistance? Well, I did a notation and then I looked at the resistance levels. Right now there's a little resistance at 2787. It's trading at 2787 but more importantly it was the support at 2786 that came in, kicked in very nicely at 2882 but you can see there are a lot of resistance levels that have kept it at this particular point and kept it in a trading range. So just to answer those questions now, let me just do this here. Within the context of where we are in the New York Stock Exchange NYA.X New York Stock Exchange also made a peak D in the chat wave and the daily chart twice and then the top one was the very last one that was made. I think it was on the 20 right there on the first of May at 30669 now 069 3000069 and then it plunges down very sharply and this arch formation takes out the left side low and it goes and closes at 12238 is the low, closes at yesterday at 12764 now it's trading at 12000, not going to be 1207 it was a 2, 12238 and now it's up at 12492 testing the 14-breed moving average and you can see this weekly chart the mentee is a little bit flat it hasn't kept going down it's negative but flat and the stochastic hasn't gone down as much as the others this to me is going to be a big clue because if the New York big broad 2000 more New York Stock Exchange can move it's up 158 to 1.28% if it a week from today, today is Tuesday let's look at it again in a week's time if this key index we don't talk about it all that much but it's really important is able instead of coming back to test the 12300 level 12200 level is actually trading and touches once the 12700 I would say that's really improved the weekly chart and that's going to be so important and it could make yesterday's low with the day before in this case really important in terms of talking about it more intermediate term so let's talk about that the other thing is IYR is down 84 cents and 86.37 peak C in the weekly it's done fabulously it's been the go-to area while the market's been digesting gains but if you look at the what was the one IBB which I actually haven't updated for a little while because it just kept making lower lows and lower highs that IBB the Nasdaq biotech sector 122.97 was the high in December it drops down to the 89 area rallies up to 116 and now it's trading at 102 this is going to be important for me because I want to see in this particular move are we rotating through other sectors or is it the XLK that is back in focus well the XLK the SMB select tech spider fund was the leader on the upside it was on the leader when it went from the 76 area down to the 57 a 10 point decline into December's low from the September high to the December low then it rallies to a new recovery high of 79 70 in May announced pullback to the 200 period moving average so the XLK which this is SMB select spider fund wow if after all that then they got they're going to go before can't what is the senate I don't know if they're in the media questions that are going to be asked by these big biotechs are they going to just shrug it off I don't know because this is now a gray leg A and if it's able to get above 74 50 it's at 72.37 another two points higher by Friday so the weekly close can get close to the 14 period moving average since it's been under it now for three weeks it's actually been under it for four weeks but it's closed under it for two and this week is the third week so 74 10 is the 14 period moving average this is going to be important and I'll tell you why this spectacular move with just two peaks from the low 57 57 more than 20 points higher that's a what a 42 percent or something to 79 24 peak be with a doji candle made this the Groucho Marx eyebrows this is really good because the magnies only just too negative but it isn't a very deep difference between the fastest moving averages yet Friday could change that so this is going to be important not only that the stochastic is at 46 percent not at 20 or 15 like the others in the weekly charts and this is going to be important will it be a leader again that's my big question or does it need more time my my look at the different indices that comprise that are really part of the XLK stocks in the industry tell me that there should be more digestive phase going on so let's just look at our two minutes and see what's going on here whoops it's going to be retesting in the cup formation excellent action he minis up 41 right now 41 very nice and it's almost about to test it at a peak 20 2 minute PD in the 5 and 10 minute chart is a PE but that could recycle because the magnies never crossed negative so this is you know this is good action there's no question about it 442 up 46 absolutely in sync the S&P is up 46 and the dials are 462 I like that I like that right now yeah so the question is what was the question so will you be raising the stop on your long position and what will you do with the short position so the short position now we have just a small portion left because my thinking was that we're just some retesting the long position is a two times long so it's really doing this is tough this is tough I'm going to have to make a big decision tonight because I don't want to be giving up profits at the same time but I don't want to get out of something where we got in perfectly that's up 3.6 just a day alone 3.6 percent I don't know I can't answer that anything can happen hey you get one tweet and the dial could be down 200 points after being up almost 500 points and or it could be one tweet and we could be looking at a double on the day on the upside all I can say is that the timing was important really important I'll be talking about that in my webinar Wednesday a week I'm doing a webinar and call the tide how can you recognize the tide what can help you in looking at the tide what particular technical tools what notation in the chaplain wave just one of the things that go into looking at the tide and most importantly if you recognize the tide remember I spoke about that person in the den who kept shorting all the time and once you recognize the time that's the position you want because if it's going down rally should fail and you'll be saved if you're early because the tide is going down so you'll be looking good on the short side so the tide is very important now we've just broken out to a new intraday high very important does a full 56 I'll be right back does a chapter type of technicians are well what an interesting day well a lot of work I'll be back I'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trait that we tigers and tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of mastering probability and for the last 12 months timer digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last six and three months timer digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do sign up for mastering probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls to sign up today if you haven't checked out the 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found all their nutritional requirements for health in their wild environment but today our food sources no longer contain the vitamins, minerals and nutrients our bodies need to stay healthy and strong that's why we need primal edge daily nutrition it includes a special blend of fatty and amino acids in an easy to use liquid form primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system they've been called miracle molecules because like sunlight, air and water life cannot exist without them that's right page they ensure we receive all the nutrition we need to be healthy and thrive we take it every morning primal edge formulated and approved by Niko and Paige of living a primal lifestyle buy it today for at least $89 click on the primal edge banner on the front page of tfnn.com Hi folks this is Steve Rhodes stay tuned for another great hour of the trader's edge heard here at tfnn.com so we're looking at ASA this is the gold stocks I'm having gold stocks I always look at we don't actually have any positions in the gold right now I almost did it because I felt I'd be unfaithful to our dollar long but actually they can be completely different things I just didn't do anything with gold but this is a very good move ASA is up a 0.03 at 1030 it was trading in the 9 it was actually at 9 something 9.03 so it's up over a dollar from there that's really it was 13-14 percent gain that's very nice to be convinced that this is going to be a longer term kind of a buy and hold almost for gold I would say I'm going to just say ASA needs to get to 10.60 within four sessions that'll be extremely positive but I'm going to go to the GLD this is the gold miners this is in a leg C right now this one has gone above the high of the 25th of March which where it was at 125.31 or 11 and now it's at 124.91 having squeak to date to 125.42 so far this is going into the resistance level that I drawn in a long time ago GLD is acting very nicely and we'll see key support is between 123.80 and 123.50 if there's any serious pullback with just minor pullbacks 124 should hold it and then it should try for the 125 60 to 126.10 level in the next three days that'll be extremely positive just wanted to give both sides we're looking down to 470 this is a very big move so as we wrap up you're about to go to Steve Rose go to the front page of TFN you could become a subscriber it'll be free as anyway you can get my newsletter the opening call had some very good positions very proud of the work we've done and this is a good time to do it and then you'll be ready for my webinar on the 12th of June at five o'clock one and a half hours I'll be showing the different techniques it'll be a lesson actually it's going to be a really important moment because the market will have matured this rally either failing or continuing it's going to be such an important day that the middle of June is always that's where funny things happen you can get a big spiral to the upside where you can pull back June is important thank you for Steve I'll be back with Tom later on today have a great day