 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 Hi folks Bells which happens sitting in for the hour for Larry Pezzavento's hour Larry's voice is still very scratchy And I say you know I kind of for my own needs. I need to do I may as well do it now I'm gonna do it later in the day myself in any case I may as well look at all the different currencies the different bonds all the all the things that Larry loves to look at I'll do that in this this hour because I just did my tiger technicians I had a lot of questions so there was quite a bit of stuff that I never got to so let's just do this does up 628 to 3138 just on a purely technical basis. This is what I was just discussing earlier on We were looking at the one-minute E-mini ESU 22 and it made a high at 10 about 10 10 at 38 88.25 When you look at the vertical technicals of the mag D now Larry never uses any of the moving averages He never looks at the mag D or stochastic or on bells one none of that doesn't matter Everybody has their own techniques and I looked at the nine period moving average over the 14 period moving average It's said to me that and I was discussing something that I call the rogue wave rogue wave is where The price of something starts to come down down down And if you were sure to absolutely correct and being short technically and in any other way Maybe not fundamentally, but any other way and then suddenly there's this news event And the price spikes above the previous high and all those people who say you know, it's a little toppy here I want to get out. I want to yeah, and they get out and the people who were short say oh man This is a toppy. I'm sure The price holds above the left side high just long enough to say I Ha fooled you all so the people who got out say, oh, no, I gotta get I get back in partially I'll get back in the people were sure so. Oh my god you should never have sure this great stock and and what happens is they cover and it holds just long enough above the previous high and then it closes sharply down red and It plummets to the downside now. I forgot to write down. Why did I even get to this discussion? Was it what stock was it? But we were looking at oh my goodness was it Wasn't Google It wasn't oh And I'm gonna forget the stock anyway There was a stock that was doing exactly that and it pulled back and it had that one spike to the upside And then what happens is You just turn around and it's this is big red candle and it's going down and it's back to where it was before Except that everybody got trapped so I could talk about it as a rogue wave that You're at the beach that says high tide at noon and at 1206 you go out to your favorite rock rock right to the edge And you're sitting on that rock. You're just about to sit down. You put down your your you put down your Towel you put your suntan lotion on you got your dark glasses on you get your favorite sandwich and you drink whatever it is That as you're about to sit down Splash 1206 is this huge wave and you wipe your eyes and you see what happened everything's wet and You look around the tides going out. You don't even know what happened. That's a rogue wave And that's what happens in the market. So what I said was this is a form of that It's not exactly like that because I don't have the same technicals, but that there should be a pullback from this level With with all the technicals fading except you had to wait for the nine-period to go negative to the 14-period moving average Which it did and it did a bigger whopping a 3889.75 high 1025 and a whoosh to the downside of 3875 50 nothing really and then it makes a you shape pattern the second one and it goes back and now we've got yet Another vertical test except this time where as before the mag D was weak The stochastic was a bit under quickly under 80 percent the on balance volume made a beautiful inverted v-shaped turnaround this time what you've got is You've used up time the stochastic is under 80 percent The mag D went positive and now it's gone negative the on balance volume never went even close to where it was This is the one that you've got to be careful Does it go a little deeper and at 3886 if it takes out 3895 on the upside? That's fantastic action, but if it starts to decline and starts to trade under 3882 And then under 3879 in this particular down move Then you've got to be somewhat careful and in all the indexes that had made that peak E They've all gone to slightly higher highs This is a peak C1 C2 in the two-minute chart or a peak F and F's in the five and the ten-minute chart But none of the technicals look the nine is gone It's still green in the one-minute chart the nine is still green in the nine period Exponential moving average in the two-minute chart the five-minute chart. Let's just squeeze it Oh, it's still very positive and the ten-minute chart still very very positive with the mag D and stochastic Stochastic at 91 percent. I love that. So this is a I said it's a very mild form and all I'm looking at now is what I normally do is I Go like this I draw the cup formation but I also like to put it into the context of a rectangle and you know my expression a Rectangle formation can last a lot longer than your patients and this has gone to an F right there and We'll see what happens. Oh, I am sorry f slash C I have to give it an alternate count because the technicals that the lines over the 40 with the mag D is about to Diverge negatively. So we're going to be watching that and the mag D is Quite important, but the stochastic was under 80 percent now It's at 86 percent. So you you just have to go one step at a time here and all I'm going to do is say That is a peak F Stochastic All right, all right enough with that. Let's get back to our story. We'll come back to this in a moment and Here we go. So the dowel Is acting pretty pretty well. It's over the 14 period moving average But there are a couple of questions that we had So what I didn't do in my show the Tiger technicians are the last hour was the I should just mention before I forget The context of the rectangle formation is so important Why we'll come across one of them in in doing this show now But you can last a lot longer in a rectangle formation than your patients or your money So when you think it's going to break to the downside and it holds if it holds the base the rectangle low of Support the horizontal low it could spring back and go all the way back to the top when it gets to the top You think it's a breakout. No, that's what reverses and it bounces the zigzags in this rectangle formation for a long time The the dollars down 27 ticks at 104 point 15 should mention we are still long from April of 2018 for subscribers to my opening call We have taken a couple of bits off But mostly we want to go all the way to almost 103 Back in 2020 and then plummet back to 89 21 and yeah, it is even at a higher level Overall, but at this point at 104 point 17. It's an erect angle formation that says I'm just taking a breather My monthly Charlie's and legs see I should go to a D with the magnetic hugely strong nine way above the 14 and the stochastic flat remember flat above 80 percent of this case 88 percent is Exactly what you want all the books say overboard at 80 percent and oversold at 20 percent I said absolute nonsense. It's the exact inverse of what you look at. You look at over 80 percent as to stay sustaining enough In a time of booming inflation we are purchasing powers eroded There's no better place to protect your hard-earned money than ain't gold This the golds flagship asset is the Monk Todd gold project in the northern territory of Australia This is Australia's largest undeveloped gold project We are talking a world-class gold project in a tail one mining district This is a large-scale low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction Vista gold just completed the Mount Todd feasibility study Which resulted in a seven million ounce gold reserve in a 16 year mine life All of this combined with the approvals of all major operational as well as environmental permits This this thing which is Mount Todd is an attractive dearest pot ready development stage gold project This the gold trades on the New York Stock Exchange under the symbol VGZ 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 Basil 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 Basil Chapman and your inbox every day first-time subscribers also get a 30-day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up tfnn.com 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 it 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 with a 30-day money back guarantee So you have absolutely nothing to worry about visit tfnn.com and try mastering probability 30 days risk-free today tfnn educating investors Oh now toll free at 1-877-927-6648 Internationally at 727-873-7618 So let's just go back for a moment to the IES U-22 one-minute chart now It's down quite a bit from the high quite a bit just relative to the one-minute chart And you've got your double top in the two-minute chart. You see the technicals here how much weaker they are in this particular Topping about 1107 this morning. So and you've got the nine-period with negative in in the one-minute chart It's just turning if they're gonna wait for the full two minutes to go, but the s says sell right there in the Two-minute chart, but you haven't yet got a confirmation. You've also got all these peak f's now in the Five and ten-minute chart. This is a peak f right here and there again The technicals are much weaker on this right side than the left side in the five minute and in the 10 minutes so that's to see what happens You know, this could be this could be the intraday top at least the morning top You'll see I had a question. I've got to do this by a Chris pharmaceuticals. I hope you're still listening John Lai in the den No in the YouTube tag YouTube and the den I think you want to know about this BCRX is trading up 21 cents at 1038 So I for my subscribers to my opening call I mentioned today I gave about six or seven what I call over the last a few days I've been showing these things buy a tech very low price single digit buy a text doesn't mean to say they cheap Doesn't mean to say expensive. I have no idea. I'm telling you they're low priced in the single digits A whole bunch of them. I don't remember if over the last week. I've had BC BCRX in there, but this is I don't know what they do doesn't matter You see this double top here. You remember I'm talking about the left side right side Match vertical match the test right there If you look at this and you look at that if you look at the high that was made right about the 7th of june In the 11s and then the test today at 10.91 You'll see that the technicals are improving a lot, but they're not as strong as they were So I'm going to say to you. Yes. Keep this on your list I would not want to be playing it right now I think all the ones that I mentioned have had spectacular moves, but most of them are in leg d This made a peak e. This is a counter trend running. I'm calling a great leg b But I know I like the weekly chart starting to improve. Why not do this? It said 10.37 Why not wait the day if it starts to close out up at the 10 55 level Oh, you could maybe take a little bit of a nibble. I would just give it a little more time I want to see what it does on monday to see if the other biotechs pull this one back and then does it participate I mean, I had one that I was going to do today. It's called atra biotherapeutics trading down seven cents at 728 It's in leg c and it hit 768 every day was making this leg c from the 637 630 level And look at this it climbs all the way to seven 68 still in leg c and this is just a single digit stock 728 say if these start to pull back, let's look at it for monday or tuesday Just right now. It's a little bit too soon. I had a question about iwm for a couple of people enough people for me to say Okay, I'll change my course for the moment because this is what we're about here answering questions Leg b a very strong leg b in the but in the this is the eye shares russell 2000 etf small caps I do like this pattern, but the nine is still Nine is still way below the 14 and the mag d is still very weak. The histogram is Improving that's a good sign, but it's not positive yet The on balance volume is good and the Stochastics at 21 percent at this particular point. It should be 23 to 25 So it's kind of underplaying it But I do think that the general market moving up is going to be part of this whole thing And as a performer, yes, it will perform some days better some days worse. So yes, it's good Where's the support? That was the question 171 46 is the nine period exponential moving average. That was almost the open today 171 22 was the open um ever closes any day below 171 20 I'd say oh, I'll be careful. It's stalling and we have to do an analysis to see if it has the power to continue But it will continue My thinking is that it's more rectangle formation and that it has an upside target of 178 to 181 So that's looking out a little bit. I hope that helps you. All right, let's get back to the question came in How about hydrate copper hydrate coppers possibly making an inch a day low They could turn into At least a bounce low Today's low of three those the continuous contract 3.64 I'm suggesting to you that this particular action together with let's look at fcx Which is free port mac maron don't type it on that chart type it over there in the little box Fcx, which is free port mac maron also doing the same sort of thing I think that the copper stocks are not performing. I just The whole commodity area. So let me just do this. Let me just say If by tuesday afternoon to wednesday at my show during the 10 to 11 hour If free port mac maron trading at 30.27 of 71 Right now fcx is a symbol free port mac moran ink copper I'd have others but mostly copper monthly chart only have a peak c I can't call it anything else and that says at some point in 2022 It should try for you for a new high to go to 20 to go to 50 maybe the 53s But at this particular point, I would just suggest to you That it is not participating the way the very oversold areas are this is just recently oversold Some of the oversold areas have been since november december like like a document DocuSign or a zoom that we were looking at. So this is goat category by category So for this category to really start moving you want to see I mean for instance gold right now Is trading up to but it's in a stuck area. It's not really the weekly chart says that it is holding the chapter inside track Proponent zone, but it's not doing much in it. If you look at silver gold at this point at 1831 Up 1.5 it really needs 1857 to 1860 to say aha Let's let's have a move towards the upper range. It's not doing that If you look at a silver nice green candle today, it's up 0.09 at 21.14 It's got the dreaded age successful so far in the weekly chart um, and that's just saying that look at individual areas because High grade copper just to go whopper of a decline just huge Silver is in the age pattern, but still successful in the dating and still successful in the weekly so it could It could trade within this range. Maybe it even goes to 21 43 21 53 This is a dating chart. I can't talk about as if it is closed But if it closed anywhere here it has the look that says Chapman we have roman candle if at any point in the next three days trading days it can it trades under 20.65 For more than an hour and a half There's a real good chance. It's going to test the low that was made today of 21 14 Those are 21. Yep 21 14 No, I said that wrong 20.54, but if it closes above today's high So far the 21 20 level if it closes anywhere in the 21 30s today That says, you know what? Look at the rotation sector in each individual uh Symbol that you're looking at so let me go back to the hydrate copper and say Hydrate copper is attempting to form some kind of a tradeable low And I'm going to put it together with wood and I'll talk about the high shares Global timber and forestry Yeah, from the return puzzle chap is sitting in for the hour of larry perseventa who's store If you want to take advantage of this sector now is the time to subscribe to my gold report The gold report is a comprehensive look at the metals sector as well as the markets that move gold Which is the currency and bond markets news subscribers get a 30 day money back guarantee So you have nothing to lose every monday morning. I publish the gold report with coverage of gold silver bonds Dx au hui gdx as well as more than 30 different mining equities To seep yourself the types of profitable trades that are recommended within the gold report sign up now by visiting tfnn.com Don't miss out on the next great gold trade sign up today Tfnn has just launched their new trading room the tiger's den hosted at discord Tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders During market hours and now they are expanding their reach with the tiger's den available to all tigers and tigeresses for just $1 for the year There's no catch or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o brian and the other tfnn hosts while they analyze charts during their live tiger tv programs and join an interactive trading community with hundreds of members Exchanging ideas interact with other tigers and tigeresses as they share trading ideas news analysis and discuss the market action All trading day even at night and on the weekends The tiger's den at discord is accessible on mobile or tablet as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of tfnn.com Tfnn is excited about our new software charting program the art of timing the trade charts In collaboration with tom o brian and using his best-selling book the art of timing the trade your ultimate trading mastery system David white has programmed an outstanding piece of software that will complement any trader's methodology Using this first of its kind program The art of timing the trade charts allows you to scan thousands of stocks for fibonacci formation setups Including garlis abc's butterflies and much more the art of timing the trade charts is designed to help you when Scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks or even months Searching to find and right now we're offering licenses available at only $79 a month We are so confident that you're going to love this new charting software 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 Oh, we've got the boat start to overture. This is Larry best of enters hour I'm just sitting in for the hour. We're covering a lot of what Larry likes to do So I just wanted to show you for the e-mini You remember my expression is a rectangle a narrow rectangle formation can last a lot longer than your patients Look how many peak abc do you remember the chapter? We've always looking for a bi signal to go to a bi mode to go to at least a d where other things can happen So we've got one pullback from the peak d at about 11 or 8 today Eastern time we pull back and now we just made another one and if you keep looking at the vertical lines You'll see that in the daily chart It's not as strong as it was before but it is rallying. So that's a good sign But with this kind of rally it's the on balance volume that says it's kind of weak right now So and this is a sudden pop to the 38 93 95 area that'll be very important because it says whoops It's above everything that whoever was shorting. It's above every short up until anything else today We'll see what happens. So the rectangle formation continues But it did go to a peak d and pull back and if you look at the I'm going to get carried away again off off track. So I just want to show you wood had a Rectangle formation a fairly narrow rectangle formation. I put them together wood is the ice shares global timber and forestry etf I put it together with high grade copper because it's international Well, just like copper is and it had a fantastic narrow range between 98 98 was the high back in may of 15th of 2021 Then it pulled back and then it just stuck in a range and it went into that range with 95 high And 82 low and it stayed there and then I made a peak d My rule of thumb in the in the rectangle formation If it goes through a peak d and then pulls back more than halfway of the rectangle Be careful because it could tackle the left side So it could tackle the horizontal low of the rectangle. Maybe take it out Which is exactly what it's done It's done almost a one more than a one to one to the downside like a propeller shaft along a propeller shaft here To the downside here if like copper is trying to ready So I'm putting copper and wood in the same category as just an attempt at a move off the low But in the meantime, what else did the was it? I just need to do this was it the usdj py Weekly no look at that holding very oh the Yeah, made a peak d it travels in the same direction not the same percentage or anything as as The dollar but it moves in the same direction it made a peak d four sessions ago It's pulling back in a high level consolidation. I've got it as a leg e doji potential candle In the weekly if it starts to drop It's a 135.09 if at any week any day this week it actually I'll make it a big number if it takes out the left side low of the 16th, which is 131.49 If it closes under 130 any time this week together with the dollar that's where it's going to pull back And if you look at the eu are usd Which is gone. I I did this recently. I showed you this incredible Left side right side art formation with the price time match that took it almost exactly to the penny of 1.06364 the low of March The week of March the 27th 2020 with a double top in the 123 area I took the plumb line right then I measured and I said there should be a test of this level if you've got this art formation Continuing to see the pink 9-speed moving average under the 14 of that level by The week of the 8th of April well the week of eight a week later. In fact, it went to 1.075 How about that and then it broke down under it and now it's struggling to make that as a support level Propellant if you can start to see 1.08. So that's that I want to do also show Um, so this is go back to uh, I want you to talk about bonds just for a moment I'm going to get back to the whole copper. I want to look at fee board man McMurray and a couple of questions I had but in the meantime Um Bonds have done the same thing. I did a left side right side price time match And it took a little while longer to get to the low that was made the the cluster formation that I used before which was At 2019 the whole area going to the April and then it broke out That was what I wanted to use and I used so the basically 132 132s so I said it should try for the 133.24 2432nd level was the u.s. Bonds Sometime by March of 2022 where it took a little longer And then it broke down and yeah, it is at 136 So as I'm looking at this I suspect that Now let's show you bonds in a in a different time frame. Look at this monthly chart This monthly chart is the dreaded h1 over there took out the left side low and went One to one to the downside took out this arch here From a trough see and went one to one to the downside And here well the month is not even close to over So I can't talk about the candle because it looks like a chap wave low end roman candle Don't want to discuss that right now. I do want to say that it looks to me as if some some The bond traders are trying to make bonds rally But until they trade in the 139 to 141 area This is just a ready potential bounce So that's what we're looking at there And uh key support will be 134 said 136 and 6 30 seconds So the u.s. Bonds continuous contract A close under 134 says oh potential dreaded h again yields are going much higher So talking about yields, let me do this a couple of questions that came and come in Why we were all while we're doing all this um But look at this Why is the 30 year t bond yield that um F what why doesn't tyx the the t nx is the uh brown 10 year ten note yields and the five year cyan f of ex Look how they've pulled back from that peak f. It's going to be a peak f because 34.72 was the high Um this past week and now we're pulling back I was in the week before and now we're pulling back and look yes the wood ice shares global This is a weekly chart. Look at that beautiful cup formation Close above 34 55 I need to check to see the price has probably changed because this is a continuous contract. Yeah 33 95 this here is not the the higher Everything about is correct except the price because it gets smooth now on the week of the second of november It was in the 33s. So we are above that we were above that and now we're at 32 50 this Cup formation how we treat the right side is going to be important. My suspicions We're going to make a cup and a mini handle not one of my favorite patterns And then we'll try to tackle the 34 72. Let me just double check because that always changes That high was 30 33 34 72 in that's that's correct. Okay So and here is the Philadelphia housing index. Look at this Nice green bar this week. But look at that ugly red candle from last week And it broke down from the high double top high And it made a dreaded two dreaded H patterns and now it's trying to bounce to try to get back 364 up nine. This is the Philadelphia housing index if these yields do pull back So the reason why we are so positive for my subscribers to my opening call about going along A lot of for the first time really putting money to work that we had we had taken tons of money out To have cash ready for some kind of a decent balance. The reason was I my suspicion was that Crude oil was about to pull back sharply That the dba, which is the agricultural fund was about to pull back sharp real slow On the 13th they did 20 23, but now it's 20.77 I think this is going to continue a little longer The grains are pulling back and I want to go to the grain I look at the grain soups turn Our basil chapter filling in for very good event though Of this hour left Are you in the market for buying or selling real estate in the bay area? Including the surrounding st. Petersburg, Tampa and clear water markets tiger real estate Is a firm that has extensive experience in the Tampa Bay area Whether you're looking to sell your current property for maximum value Or you're in the market for a second home or investment property Tiger realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers Make the most informed decisions across all price levels from the price You should be paying per square foot in certain up and coming areas to the type of cash flow Investment properties are capable of creating tiger real estate can help you make the best decision when it comes to all areas of the market Before you make one of the biggest decisions of your financial future call tiger real estate llc today at 7 27 329 83 22 or email us at tiger at tfnn.com at 7 27 329 83 22 call us today The technology around us is changing every day with so much happening That can seem impossible to keep up with all the information David white's investment newsletter the technology insider is designed to give you all the information you need to understand the technology That shapes today's markets and tomorrow's future David white has made his living staying on the cutting edge of technology His weekly newsletter will give you specific recommendations for value tech stocks As well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every friday with updates throughout the week You can get the technology insider at tfnn.com for only 37 in 50 cents Sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer Try it risk-free today with our 30 day money back guarantee tfnn educating investors Are china a shares hot or not? If you trade china a shares now may be time to take a closer look trade chau or chad Directions daily csi 300 china a share bull and bear etf's china a shares in either direction Visit direction investments.com 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 eight six six four seven six seven five two three 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 Hi folks So basal chappan sitting in for larry preservatives our not for his show because only larry can do his show and of course He has his besides all the amazing things that he does. He also has these terrific guests. So i'm solo today We're looking at question came up. But what about earnings coming up for I think it was for fs fcx Which I was looking at before and what I said is I can't tell you how the market is going to respond It's how it responds. It's not so much of what they say So I just can't say what I can say is that I'm not sure what data for Freeport background earnings come out But it is so oversold that I wouldn't be surprised if it does have a balance But it needs to trade above 33 60 and then 35 10 to say, you know what? It's back in a buy signal on the daily the weekly charge is still terrible. The next question was Carmacks, so I used to have this all notated. This did a quick notation here Look, this did a generated h it failed and took out the left side low Right there the low that was made around about the first or so of may and then it retested A last Friday went to a lower low. This is a brand new single leg a so that was a p e And normally when you get to a d or an e in that arch failure It says that so much so much buying has been performed That you've used up all the energy to the upside But the fact that it actually goes to a d or an e says, you know what? It also means that it probably won't break down after that left side low is taken out And that's exactly what happened here. So I would just say Now I as far as online Auto auto sales is a concern. I think that for me. That's really tough. I just don't know But it has a peak e major top near 150 In the in the monthly chart and has plummeted down to the most recent low in the 84s So yeah, too, it could give some kind of an outlook But I don't know how the outlook can be great But except they do not have inventory the way Some of the car dealers have in fact, I know Subaru is way behind They've even stopped some of the the models because they are Focusing on the ones that are selling well, I think like the cross-trek, etc And I know the other Different categories in the auto industry. All I can say is it's how it responds But this is a fabulous move up today up 660 up 7% at 98.36 So car max I would just say I don't know when the earnings are But I can just say that it's the outlook. How does the market respond to the outlook? And I'm not sure what they can say about the outlook because even the the the companies themselves are not sure what they're going to do next So make sure that It's a 98 if it closes under 92 closes It can't Spiral down and then bounce, but if it closes under 92 says, uh-oh Just stuck nothing to see here But if for any reason on a weekly basis by next friday, it actually closes above 104 And I'll say, you know what? We might be seeing a little turn and now let me go back to what I was saying finish my thoughts from before What I was saying is that within the context of why I was becoming so Positive about the market over the last going into last last week and early this week Why we have so many positions? um is because I am I was anticipating crude oil could pull back look at wheat I mean look at this move in wheat That's why the dba is pulling back the dba agricultural fund the continuous contract made that pt Remember how important pts can be well it had that high of 137 1375 week of 11th of March hence it's down the dreaded h and it's way below the left side low It's touching the 200 period moving average So it could be ready for a bit of a balance But that is a huge decline. Look at soybean soybean continuous contract peak d in the daily An alternate count east ash being the weekly, but that's a big pullback from the 1780s down to 15 15 70s and now it's at 16 19 a nice green candle So the monthly chart is still pretty good. Soybeans continuous contract and look the weekly says i'm in a rectangle continuous contract Sideways move. I'm holding better than the others. Look at corn calm Made a peak d in the weekly it's got the chamomile falling ax formation But it has pulled back and either pulls back sharply next week and goes under 720 is a 755 right now And that's the dreaded h failure Or it breaks out above seven 80 as a 805 And all of a sudden you're looking at a test of the recent high But it's consolidating and that's really what i was saying that because i'm looking at The inflationary aspects may be pulling back a little bit Crude all inflation aspect pulling back and that could help the market generally to move higher. So that was just my thinking So far it's kind of kind of worked out. Yes, I agree in the title youtube bcrx bcrx has had a really nice green candle yesterday It's giving back some of that today. I like what I see But you all you want to know whether it's a Got a longer term move and all I can say is until it closes decisively above This is biocrisp pharmaceuticals until it closes nicely above the 1132 high of the eighth All I can say is a potential double top here And that's why I'd rather be buying a little bit of a pullback Nibble here at 1047 if you want But preferably 10 oh 10 oh six to 983. That's the area that I'd be looking at it Okay, if it goes under 980 as I'd say step aside. Okay, a couple of things that oh could I look at the Steel stocks. Yeah, see how many patterns we've got that were very very very most recent high april back at the 39 area us steel peak f in the monthly chart of 39.25 April of 2022 And here it is having gone down to the 18s More cutting more than cutting half. So this could have a bounce, but I don't think the steel stocks are ready And that's why I'm saying I don't think this general market has made the low It's just a low another one of those lows and it could be a better one than usual And that's what I'm looking at. But in the bigger picture, I think we're starting to see something that says Can you cannot rule out and I heard some of the fed speak yesterday? um pal You cannot rule out that through other market Scenarios that we start to see some and and I I've always said once you open the inflationary uh, you open the uh the The open the lid of the of inflation It is all it is so hard to get it back. It takes a lot of time and a lot of effort But we can't ameliorate some of that and that's really what the market is responding to. Okay. So with that said Uh, I did cover so you guys steal. Yeah, this is just the start of a little bit of a bounce But I wouldn't get carried away. I treat you just a short term trading if you want to look at n u e which is ups n u e which is new ups In you either it is which is New core uh corporation steel. It's the same thing if you want to look at, um STLD, we looked at the other day and I said, no, maybe it's getting ready for a balance But not ready yet for prime time. They're all in the same category I just be real careful 200 period moving averages at 70.80 for steel Steel dynamics stld trading up 2.89 up 68 at 68 87 up 4.38 nice percentage gain But that's about what it gave back yesterday. So that's going to be the thing to cheat them as trades That's telling me that the bigger economy together with the home builders together with, um, the Timber and Forestry, yeah This says the big picture says you've still got to have a nice auto cash ready for later on I'll be back in a moment bezel Chapman sitting into the hour of Larry was eventually 11 12 Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure but you also need excellent instruction from experts at tfnn You'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com And tfnn's youtube channel with tiger tv live every market day from 8 30 a.m. To 4 p.m. Eastern for free each host is an experienced trader And gives their take on the market while taking calls and questions live from around the world From the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts to help You make the right moves with your money Watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future right Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all For daily market overviews that give you direction on the key indices selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave The chapman wave up down sequence gives you an edge in identifying price turns Finding the peaks and valleys in stock prices get the opening call newsletter by basal chapman in your inbox every day First time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up Educating investors 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 refund within 30 days of signing up Subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors So we're just about to test the upside of this long rectangle remember my rule of thumb A rectangle formation a narrow rectangle formation can last a lot longer than your patience and we've been in this Since let's just pull that back All right there since 1006 since my show my my show the tiger technicians hour right through larry's show We've been in the same range Unbelieveable. Why does it not grab it correctly there? Look at that. Is that not impossible to believe and I've always said that it took me a long time to learn this That if you start to see a narrow rectangle pattern Don't think it's going to break to the upside and don't think it's going to break to the downside It remains like a pink bomb war in this horizontal bouncing Sign wave pattern and until it breaks it even if then breaks to the upside The chances are very strong if this occurs at the top of a range That by the time it finishes It's going to drop sharply and that makes the 38 68 200 period exponential moving average that it was toying with a 9 10 this morning As support and in the breakout level that makes it a target if it starts at any point if it breaks under it closes on two Now three one-minute charts if they trade underneath 38 77 there's a real good chance that the 38 68 level will be the target With that said i'm going to say Um, we're larry we miss you. We all miss you. We hope you were going to be back on a monday or tuesday early next week Um, we just love to hear what you have to say and those stories I mean larry's memory. I just yeah, it was like he'll he'll say No, no, no, it was a tuesday. No, no, it was thursday 1971 We were just a bevelly healed. We just uh, yeah, oh, it was joe. I remember that you remember Such great details. It's just that's fantastic. All right, so we're looking at the rectangle formation No rectangle formation. It went right to the top and then it pulled back So we're going to be looking at this. Um, you'll be looking at it I hope you stay tuned. We've got a great program in coming up. You've got thicker swim Kevin hanks. You've got steve rose recorded this morning at eight o'clock. It'll be replayed And it's a one o'clock one o'clock and then see and then dave white and two and and thumber brine wraps it up with three Check out both people they use that out. They have a wonderful weekend. I'll see you