 The following is a presentation of T-F-N-N. Trade what you see with Larry Pezzavento. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, Larry Pezzavento. Okay, looking good, Billy Ray feeling good, Lewis. On Tuesday, the 22nd of October, we're going to have Tom Hougard as my guest. He was the point man at City Index on CNBC in Europe for quite a while. I've known him for about 15 years. He's gone into the realm of the super trader and he's going to tell us how he made that transition. You know pretty much how he met him and stuff, but he'll have some great ideas, I think. And, you know, he's just a really nice guy. He's been doing this for a long time. He just turned 50 and he is extremely successful. So, we'll have him on. And then on Wednesday, we're going to have Dr. David Paul, who was the other part of the three-part series that we did over in London. He's the mathematician and psychologist, a PhD that will be talking to us about game theory and stuff that I think will be very, very good. All right, let's take a look at the first market we want to look at today here is the German Dax. We had a nice little gardening farming here in the Dax this morning. We'll get this up here. Mr. Ze has just talked about natural gas folks. There's a lot of support there at 225. So pay attention. It gets much below it. It's no good. But 225 is the land in the sand for the natural gas. Pay attention to that one. I think that'll be one. I might even have a chart on that one. Let's just take a quick look here. I think someone from Europe sent me one of those this morning. And I don't seem to have found it here, but we'll have to wait and see. Let's take a look here at the footsie this morning. They're still fighting over there in the UK about what's going to happen with Brexit. And you'll see here that it's got a nice little Gartley still in an uptrend for right at the 50% level. And we're going to find out whether that's going to hold or not. That's really what we're paying attention to. Any questions today is 877-927-6648. I would be happy to answer them for you. But I wanted to share with you one of the charts that Ed Carlson sent to us over the weekend. This is a chart that shows the short interest in the market. You'll notice that it's at a record level now. In other words, there are very few shorts in the market. If you look at this closely, you can also see a three-drive pattern that is forming in here. Now, this in the past, as you can see by those red arrows, has led to some weakness in the market. But we live in a time where the slightest tweeter feed will send the market up into the stratosphere. So that's neither here nor there. We'll have to pay close attention to that as we look at this throughout the day. The most interesting chart that I thought that was in the newsletter this week, I'll bring that to your attention to let you take a look at it, is the chart of the NASDAQ. Mr. Z, I get that from Ed Carlson from Seattle Market Technicians. That's where I get it. There's other places to get it, but he sends it to me, and I don't know where else to get it. I don't do the stocks. I just do the stock indices. And all I can tell you is, in the stock indices, the Monday, Tuesday, Wednesday, and Thursday, the open interest dropped in the S&P. As prices went up, that's very bearish. And as prices went down on Friday, open interest went up, which is also bearish. So that's what it's showing. But the market wants to go up because of tweets or whatever. It keeps going up. If we get above 30, 18, it could be clear sailing for a long, long way. Let's take a look here at a really interesting chart, though, folks. This is the NASDAQ composite over the past year. As you can see here, as of Friday, we had a head and shoulders pattern there. It was actually pretty, almost perfectly symmetrical and what's interesting is, if you look at the left shoulder there at 82.50 or 82.00, that's the same price as that we were on Friday on the right shoulder, 82.00. We also have a 1.35 pattern in there also. Now, if we go charging above the highs that we made on Friday, this would be a failed pattern. So, you know, these patterns fail so you can't stand in front of it. I wish I had, you know, Mr. Z, there's a lot of smart guys in this den that might be able to help you with that short interest data, but I get it from Ed Carlson, the Seattle Market Technicians. And also, he sent another one that was really interesting because this is a, look at what's happened here, folks, with the advanced decline line. And this is mainly because of these stocks with the, I will tell him, thank you. You'll notice here, this is the Dow Jones over the past year and a half. You'll notice when we had that three drive to a top pattern with the advanced decline line was declining back in September. But look what happened this time. We've had the new highs in the advanced decline line. Of all the various things we look at, open interest and patterns, whatever you want to look at, no matter what you look at, it's a, you know, it's various with the exception of that advanced decline line. So that's it. Now, remember that Dow Jones is up just a little bit, but remember that it's getting whacked by Boeing. Boeing's probably got 100 points in the Dow. So the Dow, if it weren't for Boeing, Dow would probably be up 150. So, you know, these markets are, you know, they're waiting for something more, I guess. That's the only thing I can understand that could be happening. So do one thing at a time. That's what you have to do. The other one that looks really interesting folks here is the Crudall market because it really needs to hold this 50 to 50 a barrel, whether it's going to do it or not. You know, I'm not, I'm not sure, but we'll see, you know, how that'll end up. Now, here's another one that someone said, it looks pretty interesting. This was the fact is we're already going to be going above that this morning. This will be a busted pattern. It's only 30 minutes, but in it's also coming from the UK. It is the head and shoulders pattern, but the right shoulder now you see will be up to equal the left shoulder with this morning's opening. So that will still be a valid head and shoulders as long as we do not take out the head, which would be the high that we made on Friday. And the head and shoulders, if you remember, was one of the most popular patterns in Dr. Andrew Lowe's book, the non-random Walk Down Wall Street. So those are ones that we're paying really close attention to this morning because of getting a lot of news coming from everywhere. We had a little bit higher high in the British pound last night and also in the Euro. We want to talk about those because we're at really, really critical levels here in the US dollar index down here at this 90 something. We'd write at the 61% retrace. We're just a tad below it as we were this morning. We'll be able to take a look at this. We'll be able to put this up here and you'll be able to see that it's right on the money there for that. So let's sort of keep an eye on that. That's the main thing that we want to be watching here this morning as we look at these charts. One of the things that we'll cover after the break, of course, I want to cover the Crudall because it's at such a critical level. And also another one that's at a real critical level are those Treasury notes and Treasury bonds. They are extremely critical here. 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Hear all of the TFNN shows plus see all of the charts as they happen live in the archives of all of those charts. You can test drive The Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Details on The Tiger's Den are on the front page of TFNN.com Check out 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 Back folks and I was going to talk here a little bit about the Euro. I posted the chart of the dollar index as you can see we're down at this 61% level very very closely but if we look at the Euro on a closer basis here you're going to see get this up here for one second and you'll get this you'll be able to see it already let's put this in we'll be able to see here that we're almost at the 61% retracement of the high that we made back in June we almost hit it last night we got up to 111.90 we're backed off about 30 pips from that level not very much but that's important to look at because there is a small ABCD there so that's pretty good I don't understand it's not really the most successful psychoanalyst okay anyway let's move on here to trying to read things in the den and do these things at the same time and it's a little difficult to take a look at one of the other markets that is very very interesting folks today here we hit this one spot on those of you that live in Canada pay close attention here because this is a long-term chart we've made a beautiful ABCD pattern from the Gartley low as a low right now at this 131 we just went a little bit below it and I've held it relatively closely so far so keep a close eye on that it's very oversold market it's been down for three weeks we're sitting right at the 78% level and a 1.27 expansion so that's in fact many of these currencies are all in the same in the same thing if you look at the Australian dollar we're doing pretty much the same thing in the Australian dollar and we'll get this up here to let you folks take a look at it and then I'll let you do the others yourself because you've got to defy human nature but this Australian dollars has been a bear market for a long time we had that triple bottom down there at 66 and change we've rallied three handles which is a pretty good rally so we're up in this area where it's going to have a little bit of resistance to see whether it's going to keep moving to the downside now let's move on to the gold market here for just a second hold on here I want to get this gold market up here and we'll be able to see that we're looking at gold here we've got the two scenarios one is we're going to pop up to 1533 or we're going to get to 1512 and then start down again folks I frankly think that I'm looking at the secondary one and down to 1456 if that's what I'm looking at but any move above 1512 would tell us that the gold would be pretty strong we haven't seen much strength in silver nor have we seen much in platinum both of those have been relatively especially platinum if you notice here on the platinum chart it's had a very very meager move off of that move up to that level to getting above 920 it just can't seem to get any momentum to the upside so watch that one now I want to get back to one that's in the news all the time and that's the crude oil and the reason why I think it's relatively important to pay attention to it is because the crude oil is in the situation where they're getting ready to bring out this RAMCO deal and the stock for Saudi Arabia and the problem that we have here is if you look at this crude oil chart is we had a really nice triple bottom down here from May August and October but the problem is we've had no action we've only been able to rally $4 a barrel and we're now trading below 53 which is not a very good sign that was one of the key things that I wanted to watch today is if we got below 53 which in fact we did so that's the main thing to try to keep an eye on so we'll watch that very very closely we'll see how that's going to work out but right now it looks kind of bearish the fact that it has no rally in it makes you wonder what's going on and if we watch some of the others you'd be able to see the heating oil was doing pretty much the same thing it had a tiny bit more strength than we had with the heating oil then with the crude oil but it was still you know still relatively negative so those are just a few of the ones that were keeping an eye on here this morning okay no questions coming in so we're just going to have to wing it as we go try to talk about a couple other things that seem to be interesting let's take a look at one of the futures that we've been watching this is the cattle now I don't know if you folks did the cattle but it had well over $700 in it if you sold it on Friday it dropped three handles excuse me two and a half handles it's back to these levels I haven't checked it this morning so I shouldn't say that but you can see here the beautiful pattern in the cattle where it made the ABCD pattern there at 99 and then went up you can see we went up for five weeks basically without any correction at all there was one tiny little two-day correction in there but it was just basically very very oversold natural gas oh the natural gas folks once it once hey $225 was a number that it should have stopped at if it went below $225 it was no good I mean that's that's one of the reasons why you went $4 below it you don't want to sit with the $400 I think it's got a chance to hold because $222 you know was that secondary low that we had once before let's just get this up here and take a look it's not looking good that's right once it went below $225 that's why you can't stand in front of these things here you can just see let's get it up here this is the get the natural gas contract we closed at well we're down you can see we went see look at this closely folks you see the $225 right there on the chart on the far right there that's the 61% retracement coming off of that 382 level up there at $239 we alerted you to the fact that we're probably going to have a pretty good correction from there and we have but a lot more than I expected so $225 was the buy and we went all the way down to $222 which is the 78% level now if you really believe in natural gas you've got to give it that little extra distance you know we're from $225 to $221 that's $400 so if you put your stop below the $786 you've got to risk another $200 well that's going to be a $600 so you have to decide whether you want to take that extra risk or not first of all it's coming down very very strong you're down well you're down 14 today that $1400 so that's a heck of a move so I would expect you know the market to you know hold here but if it doesn't and if it doesn't you know you can be looking at new lows down there at $204 so anything below $222 say I'd say $220 is not a good sign because the old 786 is at $219 and my guess is if it doesn't hold that it's going to look rather bad I mean we thought this correction was coming but it's a lot more than we thought and with crude oil weakening up like this maybe there's some weakness in some of these things that make you really skeptical about some of these things so let's pay close attention to it it's not an easy gig but watch it you know folks the market that we talked about many times here over the past months, weeks, days, years there's always been that treasury notes and treasury bond market and folks these treasury bonds are just not wanting to rally today and this is not a good sign something's wrong in river city we're going to take a look at notes when we get back Larry Pezzavento has just started his brand new service Fibonacci 24-7 bringing content to his subscribers on a daily basis when the market opened and even on weekends each Monday you'll receive Larry's written report that provides detailed commentary and a summary on the charts and videos that Larry sends out and throughout the week when warranted Larry will send out via charts or videos or both the key markets that he is watching during the day this will be up to the date active trading information that will help you in your daily trading in Larry's first week alone he sent out 5 charts, 6 videos and a full report to his subscribers in just one week if you're a technical trader that uses patterns and retracements to trade then Larry's service Fibonacci 24-7 is something that you must try right now 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mention you know the crude oil excuse me the natural gas is rallied back up to that 225 level which was the original spot that we wanted to you know take a look at it now if it goes below that 222 that would break the 78% level so if you're in that put your stop at 220 and you don't have to risk you know more than 5 bucks that's the way I would do it right now because there's nothing else that you can really take a look at so anyway that's what we're seeing here watch the notes and bonds folks you can see here from the treasury note thing we had this big sell-off in the doggone thing and we're having a it's a little weaker yet this morning but let's take a quick look at it from a shorter term standpoint so we can get an idea of what's really happening here natural gas I'm looking at the November Mr. Bill December is a lot more expensive but I'm looking at the November is the one I'm watching it's got plenty of time to trade another couple weeks and you know we're not in it for a lifetime or anything let's take a quick look here you notice here on your 10 year treasury notes we we've taken out that 78% level again this morning by a little bit we haven't taken out the new low from the 17th we've done that in the bonds by just a little bit but we haven't really broken through by much it took it out by a tick or two and it's rallied so this market is now down for five weeks folks remember this is the one where we had everything was copacetic and you can see when open interest was dropping what was happening well this is what's been going on in the S&P 500 Monday Tuesday Wednesday Thursday we had drops in open interest as the market rallied on Friday we had an increase in open interest but the market was down that means that's bearish so if the market goes down with open interest increases that means new shorts are coming into the market and with that record lack of short interest that we're seeing from Ed Carlson from Seattle Market Technicians that tells us that there's not many two people not many people out there that are short and as they should be as they shouldn't be because you see we've been the markets been rallying with the exception of course of the Russell the Russell looks just absolutely horrible folks it just is a very very let's get that IWM you can see this one really has a very very weak structure to it we'll just get this up here you know you'll be able to see it that's what we're watching there so that's that's neither here to there so it's sort of pay you know close attention to that one as we go through this today I think I covered the Euro the Euro the pound all of these are in real critical levels and of course with the everybody's waiting for Boris Johnson to say something or Claude Junker from the EU's to say something just like the tweets here the tweets there the tweets and tweets are everywhere so you have to pay attention to what the tweets are because the tweet here and a tweet there and all the markets could be laid bare holy moly I'm a poet and don't know what I make it rhyme every time any questions folks 877-927-6648 we'll be happy to answer them if we could now there is a one of the commodities is on our list this week to pay close oh here's what I wanted to show you folks is the let me get the chart up here for Apple because we are this is one of the this is the only yeah well you know you know you're right Terry the voter is tomorrow on Brexit but between that vote in this 36 hours anything could happen you'll notice here this is the long-term chart here on Apple it's making a an incredible ABCD pattern as you can see from the January low we went from 230 down to 144 and then 144 up to almost 244 almost a hundred bucks the 1.618 expansion on that is 244 I believe we're right at 238 or 239 this morning I'm not quite sure but you'll notice another ABCD pattern in there between May and August and that takes us up there then you can see the three drive pattern that also takes you up to that 240 level so I wouldn't be buying Apple up here at 240 this has got three major patterns and a major major area all of the other all of the other stocks that we we got a caller from Florida Bill are you on the line what can I do for you my friend good morning Larry obviously seem to be sending mixed signals the the goal contract the last 30-minute bar had pretty significant volume and yet if you look at the candlestick it has a huge wick and now it's pulling back but the bonds are pulling back which means interest rates are going higher which is maybe a good thing I don't know but typically don't doesn't go to go in the opposite direction of interest rates and so I go go pulling back it makes sense this morning if the bond is down the 30-year bond is down but I just want your thoughts on that I'll be listening tomorrow and I can't wait to hear Tom Tom on your show that will be fun he's a great speaker tremendously personable a really fine young man and one of my pleasures of being in this business was meeting somebody like him and being such a good friend of his over the years but we'll look at your question I have to look at the bonds and the stocks separately I have done overlays on these things to show whether the there's any correlation and frankly I can't find one you know I've looked at them back and forth and up and down and I'm still not able to find one that sometimes they go together sometimes they separate you just don't know right now they're separating stocks been going up bonds been going down you know that by the time we're done with this that could change so I have to look at each one separately and trade that pattern that's really what I'm trying to look at as I look at these no that's good thirty minute thirty minute candle it's really selling off now as it went up on really good volume it now appears it's pulling back I don't know what the volume is I don't trust the volume that much because well that's just you know I look at the at the end of the day I'll sometimes look at record volume but you know the gold trades quite a bit and there's a lot of players in that that six times a number of people in the in the gold is there in silver so but you know platinum has been acting poorly and silver's been acting poorly to me gold has to get above fifteen twelve in order to restate its bullishness that's the way it looks like to me but to me that's that's what I'm watching now you'd want to see it close above fifteen twelve or just not about it's got to get above fifteen twelve if you know I don't care if it doesn't if it gets above fifteen twelve that tells me there's enough people there to push it above that seven eight six and that's what I like to see because it follows those numbers extremely well and that's the that's the real key to you know what we're watching here so I hope that's the right way to look at anyway are you seeing any patterns in gold right now no I think I just posted it and if we get about fifteen twelve there's nothing here between well fifteen oh two there's a slight resistance of course but fifteen twelve is the really big one I mean we get above that and that's going to be important because that would break a one three five pattern and that would tell you that you want to go higher but you know we're we're quite a ways we're twenty bucks away from that so we might at least we are now maybe in twenty minutes we won't be true thank you Larry hey Bill thanks for calling and I appreciate it regarding Bill's question folks I'll talk a little bit more about inner relationships of markets here when we get back it's from John Murphy's book eight seven seven nine two seven six six four eight if you're in the cd market and looking for a secure investment but tying a first mortgage program may work for you the security for these first mortgages are building lots in the tax opportunity zone in st. 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S. directions daily S&P 500 bull and bear leveraged ETFs direction leveraged ETFs an investor should carefully consider a funds investment objective risks charges and expenses before investing a funds prospectus and summary prospectus contain this and other information about direction shares to obtain a funds prospectus and summary prospectus call 866-476-7523 or visit direction investments dot com a funds prospectus and summary prospectus should be carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor for side fund services LLC the bull bear trading hour with Tom and Tommy O'Brien next okay folks regarding bill from Florida's question about bonds and stocks you know those interrelationship some markets are really tough because there's there's hardly any of them that are 100% fact I don't know of any of them there whether it's probably one that I'm not aware of but that's that's neither here nor there but I look at each chart separately and that's that's how I quantify what I think the risk should be and that's really what I'm what I'm trying to do is to try to line it up that way to see if it's it's going to line up but I I know the bonds have been going down and stocks have been going up that's been happening since September the third now that could change at any time but right now that relationship is not working but the times it has now the bonds did make a lower low than we did on Friday at 159 10 we got down to 159 0809 and so it made a little bit lower low the treasury notes have not quite made that low as of yet but it's still a little interesting to see if it's going to to do that or not that's the main thing regarding that US dollar folks those were key numbers that we were looking at this morning that number in the US dollar index at 92 80 or whatever it is I believe or 98 20 and I believe 96 20 let's say let's get it correct and the other one of course is the euro up at that 111 90 level so that's another one that's quite interesting so sort of pay attention to that anyway let's move on and talk just a tiny bit about one other thing that I think is important and that is this is a stock that's it's one of the in let's get this thing going here with Facebook you'll notice here it's under the gun a little bit folks now this stock is still that you can see the head and shoulders pattern we made the right shoulder on Friday you can see the left shoulder there at the 78% level the head came in at the 1.27 your right shoulder came in right there you could have taken either shoulder the one from the September the 30th or the one from Friday either way it is a head and shoulders pattern so that's an interesting one but the one that looks that looks really bad from from a technical standpoint folks is if we take a look here at Netflix you'll be able to see Netflix went up to a 382 retracement with all that news on bullishness of his earnings and stuff at 308 yet it closed $10 lower folks after hitting that 382 retracement that is really bearish notice here you know you can almost teach a course here on Netflix but if you go far to the left over there back in December where we had the three drive to a bottom pattern now you notice that little red box it's there that day the Dow Jones was down over 600 points that day and yet Netflix was up let me tell you folks in order to get a stock up on a day when you're down 600 Dow points it takes a lot of confidence and it's going to go higher so whenever you see really really bad news there's really a market that is going higher pay attention in October the 20th and 19th and 20th of 1987 especially on the 19th I think there were 13 stocks that were up on the day that the Dow was down the worst that had ever been down 16 and a half percent in one day and yet there were 13 of those stocks if you would have followed those 13 stocks you would have learned a really lesson that we just talked about right here is to buy the strongest sell the weakest but pay attention to that because we got really super bad news we're seeing that pretty much right now in the Brexit I mean we're hearing a lot of things going on in the Brexit that doesn't make a lot of sense as far as you know it should be hammering the British pound but in fact it is not doing that if we switch gears here just a little bit and get over to the British pound let's take a look at this here on the longer term basis here because we really want to be ready for this because we were fortunate enough to be short on the 27th of June 19 2017 two and a half years ago when Brexit came in at 150 you know the market broke down to 120 and then rallied to 144 can you believe that and then it came back down but look where it sets now at 150 we're trading at roughly 130 right now 129 change if we get to that 130 450 that's going to be a 61 percent retracement of that move and then when we look at this on a little bit longer time frame you have to use your little imagination here but if you I can't change this chart because it's static because I can show it here in the room a lot easier but use your imagination to go back to 2017 when it was trading at 150 then in 2018 is trading at 144 and if this happens right here at 135 130 450 135 that's going to be a 135 pattern on the weekly chart and it's going to be a 61 percent retracement of the high for 2018 so keep an eye on that our good friend one of our good friends over in the UK was smart enough to put on some 134 calls when they were almost nothing and Ruby asked me if I thought the hogs were going to weaken up a bit yes I do Ruby let me show you why I was thinking of you when I was doing this chart over the weekend because it certainly looked like I don't know where they are today but with that big move down that we had Friday let's get this up here you'll be able to see that we should pull down you know we could make a move all the way back down to two Ruby watch the 61 percent retracement that's around 66 and a half but below that you want to watch the 162 and the reason why is if you get down there you'll have a ABCD structure from the 30th of October down into the 30th of September down into October the 7th and up and then down that would come in most probably at the end of the week here on Friday that's the one I would be sort of watching we do have a new moon here way back here in that'll be coming on the 27th and I think we'll have Norm Winsky coming on on Thursday he'll be our guest Thursday Tuesday is Tom Hougard Wednesday is Dr. David Paul Thursday will be Norm Winsky and Friday will be Tim the wizard boss out of Sarasota Florida so it will be interesting to see what's happening with that one but I do think the hogs are weakening are they down a little bit today because if they are I'm various cattle I think the cattle can back off 5-6 cents from here without any trouble but after six weeks up at cattle the demand is starting to come back in a little bit so we'll see if in fact it'll hold that level so those are just a few of the things that we're watching as we go through here from that level right there by the way Tom's name is H-O-G-A-R-R-D and thank you Marshall we do have some good guests you know it's one advantages of living to an old age you get to be a lot of friends unfortunately they some of them you know just pass on and that makes it yes the December should be weaker than the February because February they built those in already so December hogs should be are they below 66 ruby because if they are means they're probably going to go down to 61 would be my would be my guess if we pay attention to that one so we'll see neither here nor there okay let's move on here to the next one that we want to talk about and that oh we got a break coming up here December 6835 well they they're up a little bit then they're holding they're holding okay yeah well that's I don't I thought they would be down I thought they would get down a little bit lower 779276648 I'm certain you are or strive to be one of the best of the best in 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 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 12, 6 and 3 months. 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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 newsletters page of TFNN.com what are you waiting for all of the TFNN newsletters are informative up to date affordable and must have for every trader looking to gain a competitive informational edge in today's markets TFNN newsletters cover every aspect of the markets to offer you the very latest in market news plus new subscribers get to test drive our newsletters risk-free for 30 days from all aspects of the markets including stocks, bonds, metals, commodities and tech there's a newsletter to fit your needs exclusively from TFNN stay informed each day you trade and get that competitive edge that will help you stay ahead of the game visit our newsletters page by going to TFNN.com and click the newsletters button near the top of the page TFNN.com educating investors since 1984 Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion well 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 that 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 2 week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com cancel it anytime during that trial and pay absolutely nothing get your 2 week free trial to Basil's newsletter the opening call 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 Ok folks I wanted to bring another chart to your attention that's very interesting to us by one of our friends across the pond this happens to be the Russell I'll get this up here this is the Russell 2000 it's on a 4 hour chart and as you can see here colors are a little spectacular so our truce are yellow I guess you notice that the 62% 61.8% level came in it hit it 2 days in a row and then it has sold off a little bit and as long as we don't close above that level I think it's got a chance of moving a great deal lower but we'll see if that's going to be the case there's a whole bunch of numbers that tell us that's a beautiful Gartley remember with the Nasdaq making a new high the Russell was lagging badly and that's why that advanced decline line moves up so much is because those stocks that are going up are going up faster than the ones that are going down ok let's move out to the next thing we want to do is remind you to be here tomorrow because Tom who guard will be our guest we're probably having on a little bit early in the morning so we might have a little bit more time to well we have a whole half hour so that'll be ok Wednesday will be Dr. David Paul from the from South Africa he was one of the third party Tom and David did the webinar over the seminar over in London and then on Wednesday Thursday we'll have Norm Winsky and then Friday we'll have Tim Boss we have two astrologers to wind out the week both from Florida one from Naples one from Sarasota so both of those will wind out the week on Wednesday Thursday so remember live every day in an attitude of gratitude and may God bless and keep all folks that have passed away in your prayers folks because by golly dropping like flies around here we just got to be a little careful that's it folks we'll see you all tomorrow on the flip-flop and may God bless