 of Traders. Sign up today and become a part of this educational community of Traders, just visit the front page of TFNN.com. The following is a presentation of TFNN. Trade what you see with Larry Pezzavento all now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now Larry Pezzavento. Okay and looking good Billy Ray feeling good Lewis I posted the chart of the weekly NASDAQ you know this is the NASDAQ 100 there's about 12 stocks in that 100 that run the whole show. I want you to see that the price objective on this ABCD measures to 13,960 and the high so far has been 13,961. We hit it on Friday we came within 10 points of hitting the same number again today. The big news on the horizon is the going to be the earnings of the leader of this pack which happens to be NVIDIA and I want to and I don't even know what an NVIDIA is never bought one never sold one never even seen one but I want to show you what the chart of NVIDIA looks like. Now remember these ABCD patterns are predictive in nature but of course they fail quite often but as we take a look at this NVIDIA chart on the daily you can see the ABCD to the downside now all I did is when we have gaps on the downside what you do is you add the amount that gaps to the CD leg and that'll get you right to this level right here and then you can see the market making ABCD all the way up to where we are at the high today has been Friday was 13,19 it's now trading at 13,16 well $30, $40 in the stock like this is nothing folks because it used to be $450 a share and you could easily see it's up $50, $60 even more and that's going to put that NASDAQ up into the stratosphere and it could pull everything else up with it. Now one of the things that we also trade quite we trade it every day just about is the EAE mini S&P and of course here's where we were on Friday and we hit it again last night the exact price up there at $42.22 that's where we sold it we had a $0.10 stop in it it's dropped $1,000 twice I haven't checked it lately and I just told the folks to put your stop just you know at the usual place right above it by 10 points and if we get filled we just move we'll find something else because it'll give you plenty of chances to do this and folks this is a bifurcated market as Basil Chapman would tell you and let me show you why it's bifurcated okay the first thing we want to do is we want to look at the Dow Jones industrial average during the same time now that the market was making new highs in the NASDAQ and the E-mini S&P well matching the highs not making new highs but you'll see here all we were able to do was to make an exact 61% retracement this morning within five points of the exact number and then you can see the market drops 300 Dow points to complete the A-A-B-C-D to the downside well that's one thing but let's take it just a step farther because you know we like to look at these markets to try to determine where we think they're going to go so if you did the calculations of the A-B-C-D pattern the first thing you'd want to do is to go and see what would be the 382 retracement of this whole move and there it is right there except Larry did the wrong chart just give me one second and we'll get it up here there's the one we want and we'll get it up here to see it and here's where we are you'll be able to see the exact 382 of this whole move down stopped right there and it's backed off about 100 Dow points not much as of yet but this thing it's much like Apple's earnings coming out but this in video now has almost 6% of the value of the whole Nasdaq 100 and there's only you know these are real expensive stocks because they're cap weighted and that's why they carry so much weight and why they jump around so doggone much so we're going to find out whether this is some type of a topping pattern up in this area or we're going to find out whether it's going to be a breakaway to the upside and that is certainly possible now before we get to that I got a phone call over the weekend from my good buddy Jim 20 but the number of times hold on folks the beeper is going off and I want to be sure oh the old piggies are getting ready to be bought hold on just a second boys and girls I want to get the hogs up here because the beeper just went off and I want to make sure that I have it marked as it should and let me see where we are oh we're almost there not quite but another dollar to go down in the hogs and then we'll see what happens okay here is the chart from mr JT the number of times he calls me folks it's like three times a year and those are usually his birthdays and holidays not about market stuff because we studied this stuff together for 58 years but here's what he told us it if you'll remember and these numbers hit the exact numbers I want you to follow the first red line right here you see how it touches the line here and it touches the line here and it comes down right to the 61 percent retracement okay now that's again 45 degree line JT says when this hits like this and matches up to these other spots it acts as a fulcrum to push it to the upside and what he brought to our attention is what's happening to silver right now remember the 382 on this was at 23 dollars and 91 cents per ounce and we went below it by about 40 cents and now we've passed um I haven't even checked it this morning whether we're we're trading there or not we're trading almost there it's a 28 it's at 84 right now but as long as we don't take this low out right here that's at 2350 this has got a chance that if it starts up look out because that could really be a huge move because this whole correction that we have here is going to be just a tiny bit more than the 382 retracement and that acts as a fulcrum the fact that it held it within 10 cents is pretty important but if we go below 23 uh JT said 2350 then this is a failed pattern and we're probably going to go a lot lower but the key is watch it if it starts to break out he is uh going to be buying going to break out above 2410 with his stop below this recent low right here because if it's correct this has a six dollar per ounce move possibly coming in uh silver now that's from the words of Jim Torney and not my words but uh he's a pretty sharp dude so I'll be watching this one very very closely and trying to get you some information on it each day as we look at it the goal is actually holding up pretty well remember we were looking for the goal to get down to 1975 and we got down to 1953 and uh now it's back up to 1975 1977 right now so the same thing goes with the goal but the silver is the one that lines up just absolutely spot on if it's going to uh you know line up you know as closely as possible by the way our guest today at the break will be Jim Bartoloni and Bartch charts got some good stuff on the s&p and the natural gas 877-927-6648 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 rhodes started his trading career as a student almost 20 years ago and the student has now become the master steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 finishing at number two for the year an amazing accomplishment steve rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering probability newsletter steve's award-winning newsletter mastering probability is delivered every trading day with updates throughout the afternoon sign up for steve's market newsletter mastering probability and you'll receive access to seven of steve's educational webinars absolutely free at tfnn all our newsletters come 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1-877-927-6648 internationally at 727-873-7618 okay we're back folks and I believe we have a caller from Arizona jeremy what's can we help you with today hey good to talk to you again sir um i just had a question crude oil i'm looking um just wonder what you thought about it i got it on the third i i used the 30 minute chart it gotta it looks like i'm getting a it's about a 61 percent retracement on a on an abc down on the 30 minute chart that's exactly what you have you're looking at a market that's in a short-term downtrend on that 30 minute and it's approaching the 61 percent retracement so that's going to be your risk factor that's uh that you have to decide usually what we do is we usually risk between 50 and 80 pips which is between 400 and 800 dollars the reason for that is that's a 71 thousand dollar contract so you've got to give it a little bit of a room if you if you want to trade the smaller size the the mini crude contract it's very very active and extremely trades just like the big one so if you want to scale it down you can certainly do that but you're you're spot on on the pattern you've got that figured out pretty quickly yeah i mean it seems simple but like it's uh i don't know i'm just having fun with it it's uh i've been having fun with it for a long time i stopped being so afraid of it like i just got past that point where you're afraid you know and then i just don't feel the fear that i used to feel and so like you know like the scales came off your eyes or something you could see it you know well can i mention something to you that's very very important yes sir there's only one thing that will destroy your fear or increase your fear to make it go ballistic and you know what that thing is not using a stop so if you trade this this if you trade this methodology without using a stop you're just it's not might not be today it might not be three weeks it might not be three years from now but one of those days you're going to put on a trade on with no stop and it's going to damage you not just monetarily but it'll damage the trading soul and you got to remember that you don't know what's going to happen next to these markets you know putin could throw up a white flag and say you know no more fighting or whatever i'm just making stuff up but i've seen it happen many times before especially the people that are new to this which you are but it does take time but you've got to use a stop on all of these because if you don't you're telling mother market i know more than you do and believe me she knows a lot more than you do and she'll find out every single thing that she can do to destroy your success so the only thing that'll protect you is Jeremy protecting himself by putting a buy stop in or sell stop in to protect your position it's not how much money you make it's how much money you don't lose does that make sense to you yes sir it does make sense and i do i appreciate you know hearing that from you so i do well i've been there and done that that's why i repeat it no no hey you know what uh sometimes the important things are important they certainly are well anything else i can help you with today i don't know sir i just i appreciate the community and i appreciate uh your show best show online that uh my favorite at all of them so i appreciate it yeah it's it's a good one yeah w w dot t f n n that the tigers then is a great place but thanks for calling in Jeremy really appreciate it buddy thank you sir you have a great day okay okay folks the next one we're going to talk about here is going to be the natural gas market and i'm going to give a little bit of a heads up here hopefully because if you remember here uh mr Bartolioni was telling us to buy some natural gas a little while ago he's going to be covering this again here in just a few minutes but i wanted to whistle his uh his his uh baritone voice flute i screwed that one up anyway you can see the abcd that we had here we're in a correction mode now but he was well he was trying to buy that down at 190 it moved 60 handles but folks the one that we have to really give him the big thanks for was the one from early uh late february when he came on and uh it's been a great deal of time talking to us about this 382 pattern that we had uh going on in the regional banks this was the natural the uh the regional banks for the nasdaq these are the smaller banks you can see the perfect 382 retracement there a beautiful abcd and it was a weekly chart and you can see how much we dropped folks i mean that was a monster move we lost three or four that we know of uh major banks in that debacle and i'm not even sure uh it's over as of yet but jim will be back with us in just about seven minutes and talk to us about some of the other things that he's looking at which is pretty good now i want to this one here we you know folks we had that bi-signal in corn and it acted so beautifully and over the weekend i was speaking with rich anderson anderson capital management and uh we were talking about this soybean situation where we had this el nino supposedly forming in the pacific and the beans were sitting within a nickel of the exact 382 right here as you can see and i said well we've got to put a uh got to put a limit minder on this and so he missed it by five cents and has rallied 50 cents today folks so something really big has happened well it's helped our corn position pretty good because we're up about 900 in the corn position but we missed this potential buy here in the july soybeans by just a little bit and i've mentioned to you this is a weekly folks so the fact that it went right to that level right here we've got to pay attention to it i'm following soybean oil i'm following soybean meal i'm following the soybeans wheat corn and uh those are the ones that i'm following now the wheat is still acting weak it's uh you know it's going down almost down i haven't checked it recently but it looked like it was going to go below the uh coveted uh five dollar level excuse me six dollar level and in fact we did we went down to 596 and from there we rallied up to the we rallied about 10 cents today so those are a few of the things that we're paying attention to we've got some big things coming folks in these grain markets and i love trading these grains so we we're in the we're in the corn acting pretty good so now that now the job is to see we've got this big move and this may be just a short covering rally like we've seen before but it might not be and that's the key is we got to look at it to tell us whether we're going to be there right on the money to see if it's going to be it now we're going to take a little trip we're going to go to china now folks i want to show you the chinese market because uh they banned everybody or see they banned microns whatever the microns are i i think they're like uh ruffles but i'm not sure but anyway you'll see we've been in a very very strong downtrend for the last three years the last rally that we had on this weekly chart was about two months ago and three months ago stopped exactly at the 382 retracement certainly doesn't look that good and then also the pundits on uh bloomberg and some of the other places are telling us the emerging markets are the place to be i have never traded an emerging market i don't even know where they're emerging from all i can tell you is this isn't a bullish chart 382 again let's stay tuned for barts charts and jim part the leoni number 5050 gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market the us futures market and the shanghai gold exchange the gold report tom 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 everything in the universe is governed by the fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com when you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks you need to pay attention to and you can trust larry's analysis after all he's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from larry on market movement you need to act on at any time first time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full 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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 okay folks we have on the line jim bartolione of barts charts are you doing today bart hey leary i'm doing great how about yourself pretty good house number 50 did jj take number 50 as his number for the basketball or do you know no he actually took 23 michael jordan believe it or not he did great he made all ci f in san diego um we're actually he's on the waiting list at navy so we'll see knock on wood but uh he got looked at by air force um actually just really kind of turned that down which i wasn't too disappointed and i'm kidding but uh yeah he's doing great but last thing he decided to go for soccer and they won the ci f championship in san diego for lacrosse i'm sorry lacrosse he hadn't played in 10 years so it's been one heck of a ride layer i can tell you that much how's everybody how the grandkids everything's good everything's good i said number 50 folks because uh jim's father i still have a picture of him uh that you gave me uh bart he was number 50 and he was quite the athlete himself wasn't he yes he was three uh three star athlete in high school and two star in uh college actually got recruited to play baseball in the in the pros turn it down for the cia believe it or not so oh that's what that's what he tells me cia is that a soccer team what's that the cia exactly yeah exactly what it's so good to talk to me it's a soccer to me team hey tell us about the end the end versus the dollar what are we looking at here buddy yeah you know larry so i wanted to bring this one up um so this isn't the actual currency you know the spot currency or the futures this is actually an etf ycl uh yankee charlie leman it's actually a levered one um and i got it on log scale but i love seeing you'll see here in a second um opportunities for gartly buy after you've had a big abcd so one of the things we've talked about is a lot of times in price abcd might not work but a lot of times if you just do a quick log scale on a long term like a weekly or monthly you'll find the abcd in percentage terms and this ycl for the yen it's crazy so over on the you know spot effects or in the futures i know that you know we've both been watching this potential to um short the dollar can go long yen via the gartly sell well here's an opportunity if you're just you know using stocks or etfs to get that same opportunity so long term we've had an abcd in percentage terms and then you go to the daily now we're back to a normal chart not long and we have just a perfect gartly buy setting up and gosh i heard your last segment talking to that younger man it's all about risk so you know here's a potential would it go from 26 so it's basically 10 bucks so you're risking two bucks to make 10 that's five to one not too bad right so i think the yen's getting getting ready to do a potentially pretty powerful move and then again like you taught me i just always look for measured moves and so you can see the red arrow um it's been working pretty well it goes back um gosh almost two i'm almost a year and then the blue line you can see that so all these moves like you said they nothing new under the sun right they always occur all the time so here's an opportunity for us i'm certainly looking at playing it i'm going to be looking to go long the yen versus the dollar and stop out if i lose two bucks so so that looks like a pretty good one what do you think yeah i'll tell you pretty good as a understatement but i'll tell you pretty good as the one you gave us uh back on february the uh 26 when you were on saying to sell the regional banks the k rd oh boy yeah that was amazing shut the front door and raise the rent boy that was uh that was a great one yeah well thanks all it was was a garly right i mean it's like oh yeah just a garly what's a garly what the heck is that yeah right no this but um there's this next one you know again um i'm taking a look at oil and i don't know larry maybe i've just taught my eyes to see it right for those with eyes to see but uh every move down on us oh was pretty much exactly 80.68 percent i mean there it is on a log scale um now the last move down i i kind of cropped the wicks and i just used the opens and the close which nailed it completely so um and then you know i try to count every once in a while but the bottom line is is that looks like five waves down right so um and and and then you know polarity just those basic technicals we learned back in the day you can see the trend line that's holding it and so you know i'd love for it to just kind of go on down maybe do it in abcd or a three drives to look at buying it um simply because we have such you know um symmetry on the way down um one of the other things you taught me is um you know a lot of times the initial move uh off a bottom will go 4.236 which is 1.618 cubed um and that's the blue line the longer blue line you can see that it did it almost exactly right so a pullback in oil a pullback in us o was to be expected especially after after such a big percentage move so i'm going to be looking at buying us a little bit lower uh but sure doesn't look like it wants to go 20 bucks down to 45 but who are we right all we can do is manage risk but i'll be i'll be looking to play that one um to go along oil what do you think that looks great now do you will you trade us oh is that what you'll do do yeah i'll probably trade us oh um i i'm not i just really haven't had much luck doing the future so i just do the single stocks and then i'll do the spot effects for currencies like i've always been doing but yeah why not yeah well i love coming on your show with everybody it's so much fun and by the way this is our first this is our first time where i've actually run the screen we figured it out color maybe something maybe it doesn't that's that's the one that always gives me the most trouble and of course uh a couple was about uh last time we had you on you were looking to buy some natural gas down there at 190 that's right and yeah yeah i had to i had to post it again you know as long as natural gas stays above that low this pattern isn't forced as far as i'm concerned yeah and so we're making a huge i hate to say the whole call thing because it's no call i mean it's just a pattern right i don't know which ones work which one don't but when you get these longer term monthly patterns and the thing that's really kind of catching my eye is that okay it went a little bit higher in price okay you know a little bit but the whole triangle that we're showing it's exact in time and it hit right so there's a real probability not risking a lot because that's all we control uh the natural gas could be starting a pretty pretty big multi-year maybe uh run up up higher and just following the pattern that we're doing so i'm really watching that one uh for sure um so that that looks like a beauty for now but um obviously heroes and goats will be a goat if we lose that that bottom low all right yeah and go you know a goat's nothing more than eating lamb it's not a big deal hey let's take a look here at this s and p 500 yeah you know larry i know you've been tracking it and showing it to your readers and listeners and everything but i just decided i would do it also we are staring at some massive resistance in the s and p my account i got six ratios and two abcd's in that uh red box arrow so boy i think that's the level we should try to short the s and p if it gets up there right we'll never know but um at the same time if it blows through there that's probably game on that uh this thing this correction or this bear marker or whatever people are calling it is over but i haven't seen six ratios and two abcd's in a long time i don't know about you so that that's what i'm looking at in the s and p it's it's look at all that overlap that's pretty amazing yeah i can see that also the thing that you're pointing us out is the market's not going down so those ratios could still be in effect very easily yeah yeah i mean it's since october kind of feels like forever that we really had any moves down of significance and then if we look at it it hadn't broken a swing low yet has it so this was strong hey Bart we're gonna have you on again soon buddy thank you so much love it Larry thanks so much and best to everybody okay love you buddy say hello to the family for me and you got it sir cheers be good everybody give Bart Leone folks Bart's charts we'll be right back you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by 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 and 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 are you looking for a way to consistently add winning trades to your portfolio Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded tfnn over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of Tom's advanced technical analysis in our gear to deliver comprehensive strategies for a successful portfolio get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at tfnn.com tfnn educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade labu or labd directions daily s and p biotech three times bull and bear ETFs visit direction investments.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 four-side fund services LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ okay folks I posted the chart of the E-mini S&P again this is from sunday of course and all we did last night we went up to that 42-22 again we didn't quite get above it we're not trading at 42-10 so it hasn't really backed off very much and the NASDAQ of course is still acting strong so my assumption is uh this is probably going to go higher much like we've seen here in uh Jim's charts also I did the same thing in the NASDAQ I've already showed it to you but I'll I'll show it to you again because it sets right at a major number remember these numbers fail so don't be yet that's why you put your stop as close to break even as you possibly can anyway that's what we're watching now I have to do a tiny bit of homework here I did something last night and that I was watching it and when I when I was doing it I forgot to put something put something in that would make it really easy to to see so if you'll bear with me here one second it happens to be in one of my favorite things and that is the uh the soybean oil if I can only find it there it is right there and I want to get this up here oh shut the front door and raise your head give me a second folks I got the wrong guard one here okay here's where we are in the soybean oil let me get this up here something big has happened folks over the weekend I don't know if it's this net thing with El Nino El Nino is the the the current that goes through this out through the Pacific that brings in the moisture for crops and stuff like that and when El Nino goes crazy that's when you get crop failures so El Nino may be in vogue Rich Anderson pointed this out to me on Sunday so I'd start to look at this and of course we are sitting right there at that ABCD this happens to be soybean oil it's already started to move soybeans have already started to move corn started to move wheat hasn't moved yet but we are going to we're in the corn markets acting really nicely missed the first part of the oil and the beans but I'll be on that like a cheap suit folks I'm going to follow that one very very closely because I do want to get on board because that's a major ABCD garlic going back two and a half years and if this is correct boy this could be a this could be a really big one as though those of you that follow the 24 7 you know we've been tracking these soybeans we we made a 60 cent 60 cent move to the upside we gave 20 cents of it back we still made two grand but we tried it twice on the downside and both times it failed and last night it missed it by five cents so can't stay up all night I try sometimes I don't really try but that's that's what we're watching here in some of these grains they're starting to look very very interesting even the wheat today went below its recent low at $6 a bushel we got down to $5.96 it's now rally 12 cents so all of the grains have started to move now we're long the corn so you want to stay long the corn keep your stop and break even and what we're going to be doing is you're going to be looking for a spot to get into the doggone thing and make sure we can add maybe a soybean oil or soybean or maybe a contract of wheat we're going to be see if you buy if you buy soybeans you don't want to be long the soybean meal and the soybean oil because then you've tripled your risk exposure so you got to pick one or one of the three and so what I try to do is to pick the one that is the strongest that happens to be the least risk because those are the ones that will keep you from being hurt that's the main thing I've got to share a research project here that our friend Jeff over in New Jersey has been doing we talked to him last week about this and he has a lot of data on this these are Gartley patterns folks I haven't checked it but all I know it he's a scientist so he knows pretty much what he's doing here this is his work on looking at Gartley's now we did the same thing with the floor traders handbook that was done automatically by by John Jameson programming it and then but we did it all on 15 minute charts on the year old so we could get a lot of patterns these are different patterns different time frames but they're all Gartley's it shows you the different ones and the percentage of whether they're right or wrong you can see how the Gartley pattern does stack the odds in your favor it doesn't work all the time but when it does work it pays off really good and if it and when it doesn't work it doesn't pay off pretty good and so you go out and find another pattern that's all there is to it shake it off folks if there's one thing that I'm really good at in this business is shaking it off honest to goodness I when I when I take a loss in something I just move on to the next one and then I don't I don't even pay any attention to what what's going to happen next I because it's just like being a telephone salesman little pays a little better but you know if you dial 90 times and you don't get nothing the next 10 calls may be the reason you do it because you're going to average about 3% of the calls are going to give you a winning chance and we have someone famous on the line right now Mr. Z from Philly John how are you well famous or infamous I I'm not sure which but good to talk to you Larry thanks for having Jim on and I wanted to follow up on the soybean market if you could please yes sir please go ahead I wanted to ask is can you show here and Tiger TV your new crop November being contract and what you see with that particular pattern please okay I'm going to bring it up here right now because I was watching this likes now you can see the little red boxes those are the 1.618 expansions this is what I was looking for to be a buyer now I did not I did this Saturday morning Jim so John so I didn't I don't know whether it made that number down there or not last night I I know that I know the July beans missed it by nickel the oil hit it pretty much spot on but I didn't check the November because I was doing other things and of course the Euro and bonds and some of the other things that I'm working on but I have to check that to see if it's any good let's just do it right now together since we can do that and 1161 was a number so let me see if I can pull up a chart here on the beans while you're pulling up that chart let me ask you a question I appreciate I I'm looking at what you see yes in Tiger TV is that 1161 is that an ABCD target is that what that is yes it is it's a 1.618 expansion of that big move down and that number was at 1162 the low was 1172 and it's trading 20 cents higher now at 1192 so that's still on my watch list I mean 10 cents 20 cents in beans anymore can just be a short covering rally as you know but we've got to watch that 1162 in the in the November beans because you remember they're trading for a buck and a half under the the the spot July beans you know from the old crop so this could be one of those years where we get some really nasty weather problems from El Nino because it surfaced this past weekend and evidently it's real so we'll we'll keep following it you know Rich Anderson pays thousands of dollars for these weather reports and he was the one that first alerted me to the fact that oh we got to pick close attention to this so it'll affect the corn market too but boy the beans boy when they get hit with El Nino you and I know what that's like thank you very good thank you thank you John we'll be right back folks John Sherbury Mr. Z from the Tigard Inn 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 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off folks so it certainly looks like it wants to go up higher that number would be right at 14,000 I believe or 13,960 is the high that we're looking at in that price of the of the NASDAQ I'll post it again but you'll see it on the weekly but you know this is an ABCD so it can easily especially with earnings coming out today with Nvidia that this could be a lot different but you know that's just either here or there we'll do one or the other but we do the second half of this show here coming up in a little bit I'm going to go over the grain markets with you folks just to show you some of the things that I've been watching and hopefully we'll get an idea of what we're trying to accomplish by getting along some of these so we'll be we're going to be there you know we miss a few once in a while but when the bell rings we're usually coming out of the ring with a gold belt so not all the time but some of the times well that's the main thing now remember we've got new video coming in with earnings right now it had a high at 13 the 19 here on Friday and last I saw it was trading around 13 13 wow shut the front door third let's try 319 and 1315 is what I saw a little bit earlier but if earnings come out on this folks and believe me these are very very emotional and as you've seen many times you can see a huge gap on this and this would make the stop in on some of these things I just turned the mic off by accident I hope I got it back on again so we're going to be watching this one closely so stay tuned for the next part of the show and we will be talking about the grain markets those of you that are not involved in it I think you'll enjoy it and if you don't enjoy it I'm going to enjoy it that's what's important to me we'll be right back folks 877-976648