 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 folks posted a chart here of Jim Bartolioni he's on stock charts quite a bit and also all star charts with JC parrots and Jim's gonna be our guest next week he was the one that told us about a month ago you know about the 382 pattern in the ABCD structure in the regional banks and of course they had a huge break and some of them have broken then we'll never come back but that's what we're watching right here folks what happened during the break here was I did get the phone call from Steve's doctor and Steve had come out of the coma and he was talking to me and so I got to talk to him again and I had to remember what happened to me about 15 years ago my very dear friend Bob Gammillion who ran Wilshire coin and was part of the people that was one of the four coin dealers that were working with the Laverne Redfield collection back in 76 when I was a Drexel and Bob was on life support and the family could not turn off the machine so I drove over to Beverly Hills to turn off the machine and I got in to the room and the family changed their mind and and so I said okay I said whenever you want me to do it and so two weeks later Bob came out of the coma and he was never the same but he was still able to function for another ten years passed away happily but you know his mental facilities were probably at 60% at best but the most amazing thing folks believe it or not when they told him that I came over to pull the plug and we had made an agreement together that we would do it for each other he didn't speak to me for a month and we spoke every day and we finally made amends to it and stuff but that reminds me of some of these things that are happening let's get back to the markets because that's what's what's very important we got a caller talking to us about believe it or not platinum we haven't seen a platinum chart since Hector was a pup and let me get it up here so we can take a quick look at it and I see it here where is it platinum platinum where are about here it is right here here's platinum and he is saying we were talking about the old 382 here today and you'll see in platinum look what happened I want to bring it up you'll be able to see it look at that beautiful 382 that stopped right there on the money and then bada bing bada boom you went right up here well when a 382 happens folks we know that that's part of the structure that we love so dearly and that's AB equals CD the only bad part about this chart is it comes from Boston Dan and I happen to be a big Boston Celtic fan and then I was flat out upset I kept looking for Larry bird in the stands but he wasn't there they just played terribly but Philadelphia played so good that they deserve to be the big winner here but getting back to the chart you can see the 382 led to the ABCD up to the top and now it's back off a little bit this is the same pattern that we were looking at in the gold and I'll bring that up again because it was another one that was pretty much as spot on as you can possibly as you can possibly ask it I'll bring it up here because we happen to be be short right before the break it hit our price objective and then of course went up I didn't get the I didn't sell it there because I was busy doing other things and stock indices and currencies but you see we went right up to the 38 the 61% retracement of this high right here but the important thing is that's 78% of that high but the high up here is the real high that you have to take remember that when we got up there to that 2084 you have to take that too because that's the real high that's the high of the market this is a secondary high that leads to this ABCD that comes down here at the 78% level and then we had the short right here there was our profit objective right here to 382 and then you run the 35 bucks straight up to the state level here and now we've come down moving lower so it's we're getting more and more information now that the gold and silver may have top now this could be related to the US dollar or not because remember the US dollar is currency does not backed by anything it says for the full faith in government of the United States well try to take that to the bank if they don't want to take it in Mexico you know that they don't even like to take dollar bills and paper money in Mexico anymore that used to be a premium and not anymore nope they use their telephones and stuff like that so it's a it's very very it's a little scary actually when you when you look at it that way so let's take a look at silver since we're talking about the get this up here to take a quick look at it then we'll get to the stock indices a little better here a little bit because it's really important today day today folks when you hit these numbers so perfectly and then the market reacts the good part is if it comes back and and closes really strong that tells us this was a major bottom and we're probably going to be looking at higher prices so we've only got a couple hours to go we're still down I think what did I saw there were three of the the CAGS indices yeah there three of the four are still down but we'll see whether that's gonna mean anything or not anyway as you see here this was the 78% level here in the silver we've been waiting for that for quite some time you'll notice that that was the perfect ABCD right up there that's 26 20 I I really believe and I'm in my heart and I believe me I've been bullish silver since I was since I've been in this business I think that someday we're gonna once we clear $55 an ounce half a you know that's that's a hundred percent move from where it is right now you'll see silver I hopefully that's on my bucket list somewhere between 75 and $100 an ounce that'll put gold somewhere around 3500 because if this paper money stuff keeps going on this I know the block chains are supposed to be interesting and stuff but boy when push comes to shove and real money is where it's supposed to be then that's that's what you have to pay that close attention to the one thing that you do want to remember folks is that these governments can play games you saw what Mr. Nixon did I'll do I don't want to go through the whole thing but in on the 15th of August very important day in my life because that was the day that in 19 it's in 2007 2015 Tom O'Brien asked if I would take over the commodity show and I said sure so I've been doing it for over 3,900 shows now over these past 17 years enjoying him quite a bit sometimes I've had some pretty ones that sort of smelled up the pot but by golly that's the way the name of the game is let's take a look at what's happening to some of these things across the pond give everybody a free trip and here is the German DAX as you can see here we'll put it up here so you'll be able to see it really clearly here this comes from our good friend over in the UK Alan Smith and you'll see there is a beautiful 3135 pattern just absolutely fit fit out just just as nice as can be and it should be heading down into this area right there now what we'll do now is we will go to a a that that was a 60 minute on the DAX and now we're going to look at the 60 minute on the footsie and then we're going to pay a few bills 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 4x report Teddy Keg stat breaks down the 4x markets every Monday using his 30 plus years of experience as a trading veteran of futures 4x stocks and options Teddy releases his weekly Tiger 4x 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 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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 Tigresses 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'Brien 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 Tigresses as they share trading ideas news and 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 tablets 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 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 free at 1-877-927-6648 internationally at 727-873-7618 okay folks for kicks and giggles let's put on our trading shoes the time is ripe the price is ripe we've got to take a look at the guess what the e-mini S&P and you're going to get up here in just a moment and down the stretch they come here it is folks there's your 382 there was your first 382 right here there's your second 382 right here at 4135 your risk has got to be above here but look at this beautiful ABCD to the downside 382 rally and then a perfect a b c d coming in right here and that's where we are coming up right now so I think that that's what we're looking at it's a pretty quick one but that's the way they are sometimes so that's a 382 off of the high it'll either work or it won't the risk on it is about 10 points profit objective would be at least 20 so sometimes they work sometimes they don't the only one that has not worked today has been our little piggies and I want to get to that to show you what happened because don't the natural gas didn't work either but the pig trade we just get this up here because I know most people and they're not trading hogs even though they're traded quite a bit by the funds but let's get this up here in the pigs here and we'll see we had the first 382 retracement it rallied about 400 bucks and it it did come down and hit this level here it hit this level right here which is no longer 382 you see this was the 382 that worked and then so the next 382 would have been up in here somewhere but it didn't what did it do it came down to this level which is 50 percent I didn't want to risk anything on that so I had my stop at break even and I would be able to say to the priest thank you for the confessional and move on and I'll see you in a few weeks but that's what I would do I forget about it soon as you soon as you have a losing trade you forget about it that's what you have to do baseball players when they have a three strikes you think that they're thinking about the two strikes that they just had no they're thinking about what to do next and that's what you have to do in trading you gotta forget what happened in the past folks that the past is BS that doesn't mean anything it's no good at all you know that's uh that's the main thing let's just cover a couple I think I've already covered the bonds and I did the S&P and I did the Dow I did those I'm sure we've got those all covered the Euro I need more time here on the Euro because this is a really important pattern because it's the most actively traded thing in the world and I mean world because it trades about a trillion bucks a day you'll see we had a beautiful A, B, D, A, C shucks an A, B, C, D set up right down here now we made a slightly lower low over the previous day here on the night okay we took us out by a couple of pips and then we rallied up to our next sell point right here well this was during the report and what I did is I just personally I I didn't want to give anything back and so I put a stop right in here and then when it got back up to the 382 again I went ahead and resold it again made a little bit but you know we're still short from this from way back here that's a that's a big A, B, C, D over the last five days you know with virtually no risk of around 300 bucks you've made five times you're almost five times your money on that and that's what the floor trader handbook proves to you if you listen to that video long enough that these A, B, C, Ds they work do they work all the time nope but nothing else does either so let's remind ourselves of that now let's take a quick look at the natural gas because this is another one that did not work and I want to get this up here because you got to show the good and you got to show the bad and we'll get it up here and you'll be able to see it there was your buy here if you see four or five days ago we have the nice rally up here was the the positive thing if you remember Mike Moore said there was real positive outlook for the first few days of the week here in the crude oil gasoline and natural gas and natural gas crude oil gasoline and heating all of them were positive and so they were a buy on Sunday night and we went through those series of 382s and they were just they were they were really impressive even if you don't believe in Fibonacci and looked at it you'd have to say well that's not I mean that's not by accident I mean these were so to the point folks I'm talking about one or two ticks to the exact number of something that you know trades for like crude oil trades $71,000 for a contract I mean these numbers work you know do they work all the time nope but they work most of the time and there it is so this is what we've had happen now so what my game plan is here you probably you probably have an A, B, C, D pattern forming here in the natural gas and it probably got down to maybe the 50% so what I'm going to do here is when we get back from the break I'm going to upgrade the natural gas one and then I'm going to update the hog one so you can see what happened when these patterns fail because when they fail that's just as important as when they work because pattern recognition tells you one thing that you have the odds in your favor because they repeat over and over again and they do it in a way that is very very sensitive to these patterns of A, B, C, D which is nothing more than Mandelbrot's fractals Gartley's fractals and also these algorithmic boys if you don't think these algorithmic boys know these numbers you better think again because those those fellows there on top of their game I wanted to re-enter talk a little bit more about these treasury bonds because this was a big thing that's going on right now with this debt because there is a possibility that maybe they won't do anything that they I'm not going to say anything about the government there's your three drive to a top pattern this goes back to the last 10 years appears where they were telling us that look all you have to do it's going to have negative interest rates but it's going to be really good because we'll have no inflation and we're going to hold your money for you and we're going to charge you a fee for it but we're not going to be able to guarantee that you're going to get your money back so let's figure that one out by a little back in the envelope math the people that were putting this out and one guy from the University of Pennsylvania I forget the name he's a PhD Nobel Prize dude said get ready for negative interest rates and when I heard that I said maybe I'm seeing something wrong but as you can see the market is broken down with this big A, B, C, D there was your pattern and we're waiting for a weekly 3A2 at their 138 to sell that but that is that is just absolute foolishness it it really is I just never could figure that out and I I have some people that are really smart that told me yes it's going to happen because of the treasury bonds and the Chinese buying and the Japanese buying and all the other stuff and I said no no no no no I said I don't have to figure that out too much to realize that that's not probably going to be what's happening so that's pretty much it now here is the hog trade I want to get this up here we'll see it before the break which is good and then we'll have Paula T on the horn and just a little bit there as you'll see we went right down to our level there in the hogs and I decided to take a what we call this you take it take your sister to the dance so you got to take her to the dance the dance is over and we go back and sit on the sidelines again and we wait for another trade so we're going to take a break here and we'll be back with Paula T web 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 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 in 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 are you looking for a way to consistently add winning trades to your portfolio tom obrien is here to help tom obrien has been successfully trading markets for over 30 years a frequent contributor to td ameritrade network and cnbc tom obrien found a 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 market's open to give you the competitive informational edge you need to succeed these newsletters are packed full of tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio get tom obrien'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 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 okay we're back folks and we have paula tweb douglas on the line paula how are you today doing good doing good how about you i'm still living the dream paula is going to give us a little exercise and what money really means i'm i'm going to give a little prelude first uh when you guys moved here on august the 16th of 1996 uh you know mark worked every day here with me in the office uh for six years and one of the things that i used to do is i had a thousand dollar bill on my desk we got him at the federal reserve uh byron and i we got a thousand dollar uh we each got two each and then we got a five hundred dollar bill mckinley's on a five hundred in cleveland is on a thousand so i had that thousand dollar bill there and mark says why do you have that there i said to remind me that it's it's real money that's being traded remember 96 now you could get all the money flashing up on your screen how much you were making and the first thing that mark said was take that function off and he explained it uh well well i'm going to take give you back the thunder because you know what the story is so why don't you tell him pt well i mean when when when traders aren't connected to the very money they want to grow then that's when they consistently lose all right um as as we've talked about before you know mark stood on michigan avenue trying to give away free money and people walked around him like he was nuts and because they didn't believe in free money and traders don't believe in free money either and since as traders you know we're we're basically just pointing and clicking a mouse we're not actually quote working hard physically to make profit so sometimes there's a conflict there it's like well all i'm doing is pointing and clicking my mouse and i just made a thousand dollars um so there's that work ethic involved and you know that that plays that that plays a part in in how much we win or lose and as i did said earlier take some money out of your wallet and look at it and really look at the money that you have earned look at the money that you are taking in profit and connect to it in in a way where you haven't previously um when you became a trader you got into trading to make money period that's the only reason we got into trading any of us is to make money and yet when when you don't look at your accounts you don't look at your statements then you're disconnected from the very money you want to grow so you don't know your money and so you can't grow your money so you have to keep this in mind you made a promise to yourself i'm sure most of your traders out there made a promise to yourself i'm going to make more money as a trader whether more money from your other career or just more money in general how how well have you followed through on that promise to yourself ask yourself that and be honest and this is what my next book is about making promises and promises lost and promises failed and what does that mean as traders you made a promise to make more money whether it was just to yourself or to your family and you're not fulfilling that promise so you have to ask yourself why and that's because you're not connected to your money that's what it all goes back to trading is about money i don't care what everybody else on the internet is telling you it is about the money that's it so you gotta you gotta make that all right in your brain you gotta align that in in your thought processes that it's okay to make more money it's okay you remember well we've said this on the other show before that uh robert st john when we traded on the floor of the murk he was he stood next to tom uh tom baldman for what eight nine ten years wasn't it that they worked a long time long time yeah and uh it was just really amazing and tell the folks how much money he carried in his uh in his in his money clip is he had a rubber band basically what it was how much money a minimum of eight to ten grand yeah every day in hundreds money every day every day because you know why he was connected to every penny that he made as a trader once once once he worked with us i mean he was a boom and buster and that's when he came to us to work with us and once we got him back on track he was so connected to his money he loved money he loved making money he loved spending money he loved sharing his money you know he was a very generous man he was a lovely person and probably one of the best bond traders ever and but he he connected to his money because he wanted to grow his money and he went from like i said having two mortgages on his house and ready to get divorced within one year of working with us he was up i think it was two to three million dollars with everything paid off he was he was profitable two to three million dollars because he was connected to what he wanted to grow and that was his money i remember when he was in pismo beach uh visiting us when you guys came out together he stayed with all of us were together for a week and he traded every day with us and rich Anderson was there and he averaged a quarter of a million a day yeah so he made a million he made a million two for one week and we were only working two and three hours a day because mark only wanted him to trade the first hour of the day which was the most important for him and he worked basically an hour and a half to two hours if he worked a full day he'd give a he'd give a hundred grand back so he figured that out right away he had to do something different but they only worked an hour and a half to make that kind of money but folks he was trading large sizes he would put on 200 bonds and add 200 and add 200 it was not unusual for him to have 500 bonds on and so he was it was really quite special so tell us about the book when you when will it be when will it be out well i've got some workshops coming up this in the next couple months a couple of my own and then i've been invited to do a workshop in charleston in august so i don't think the book will be out till probably end of the summer but um it's going to be called the sagacious trader and it's the new wave of trading psychology and how you need to approach your trading in today's world climate especially with the presidential election coming up which is always pretty squirrely time for the markets so it should be really good it's it's going to take this a little bit deeper and a little more lots more stories that that bring home the point of having the right mindset is really the way to go now i got a stupid question what what does sagacious mean it means thought-provoking ah there's where you get an italian to try to make him think it'll never work hey listen thanks for joining us we'll have we can't remember the name of the book but you know maybe that'll help me i know it's got a weird name hey listen thanks for joining us and we'll have you on again soon okay yeah anytime tell the folks how to give me your phone number give me your phone number seven six oh tell them that phone number please seven six zero six three six four two nine zero seven days a week and polytweb.com okay well she's like me we never stop working because we're never working we're always playing that's right pt we'll talk to you later see you soon you bet okay let's get back to work here we got to do a couple little things here we got a trade on and let's just see what it's doing we sold the s&p at forty one thirty five it's got a four point loss in it's let's just get the oh i'll get the chart up here just a second because we want to follow it as we're looking and there is where we sold it let's get it up here hold on one second one second one second one second remember we have a 10 point stop on this boys and girls there's where we sold it right there and now what we're going to do is we're going to look at what it's doing right now and that should be right behind it somewhere i hope and there it is and as you can see we are underwater a little bit but that is all part of trading and we'll get this up here and there we are right there now when we if we get above here we get above this level here we know that there's something probably wrong so we sold it here we're going to put our stop at 10 points above that so let's just double check to make sure what that that is that we sold it at 35 okay so our stop being being as wild as it is today we have to risk 20% 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 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 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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 didn't run the AI uh before I put the trade on which sometimes I do sometimes I don't I believe in the 382 no matter what you can see the 382 on this one was just absolutely spot on and I didn't know this I didn't run this because I was too busy doing getting ready for the other show and doing some other things but you come down and you make your ABCD to the downside you make another ABCD down to the next one exactly 1.27 of that swing and now it says we're going to be up the rest of the day now we sold this at 41 35 put a stop at 41 45 folks only risk 10 points because the odds are it might get above here by a little bit but not too much and with only an hour to go in the day it's it's frankly it's 50 50 but you just never know it's still down so it can still move a little bit lower from that level so that's why I'm going to do it that way and believe me we we don't have we don't make money on all the trades we make money on some of the trades but again and we're going to be out of I just saw the beeper almost go off but it didn't but 41 45 would be there it is right now and just uh that one didn't work boys and girls um you can call my law firm it's do we cheat him and how the number is five two zero five five five five five five five and ask for Luigi he's the head uh legal expert there at the firm of do we cheat him and how so that's what I would have done so I'm glad to see this gives you another chance to to play the game one more time and so that's important to me because these lows and highs that we have are so perfect Fibonacci wise that it really really makes really makes a big difference now let's take another look at one of them that was also um that was also on the 382 that was uh just absolutely spot on today and it's working uh really really nicely to the tune of uh several several hundred bucks let me get this up here to first of all let me draw in the draw in the ratio because I know a lot of people will say that didn't happen we'll get this up here and it is basically the soybeans eventually these soybeans are going to go up and it might not be in my lifetime so let's get it up here and we will have it in post-taste as they say in the trade and here it is right now this was one that worked extremely well we posted it as it was happening this morning because it was happening just when we were on the air and there it was right up at the 382 and now you can see it's uh breaking down if you did the work in the wheat uh wheat did exactly the same thing now the wheat we didn't quite get a chance to update it but if you look at it closely and I think you can you'll be able to see the 382 up there at 644 and now we're trading about a nickel nickel under that so we're that's how we keep an eye on these grains and try to figure out you know where we are this you know trading is simple but it's not easy uh mark always said you know simplicity beats complexity and that's really what you want to try to do is to keep it that way I don't know if you though some of you folks here that this is Tom O'Brien's show but if you have never heard of the book by Tom Hougar the best loser wins it's basically he learns how to lose that's because just like a slot machine it says on that slot machine in indelible link that you can't read as you I have no chance of beating me long term and I've taken in $1.2 million more than I've given out but if you can get behind that machine and learn how to play like that machine does you're going to be better off because you got to be thinking how much money can you lose so if it says 350 three quarters you put in three quarters or three dollars whatever your amount is that you want to risk risk that you may get lucky you may not get lucky but that's all you're going to risk because you have no chance of beating it our game is different because we have some tools that make it easy to to see and see how it works so anyway that's that's what you got to do you got to think like that but anyway if you don't have that there's a paper that he wrote called the best loser wins it was a prelude to the book and when the publisher saw that title the best loser wins they went crazy for it over there in the uk and it's become a bestseller they sold way over 50 000 copies on the first printing and boy that's a that's really really a big thing for a technical book in trading and it's become very very popular so you ought to get the book I think it's 45 bucks and it's worth it but if you want the paper it's a three pages about you know losing and what it's about and from that he expanded to to bring out this book that is uh it's really quite spectacular just larry at trading tutor.com and I will paste it out there and fire it away so you'll be able to see it so one more time I want to bring up here this is the thing that you want to pay close attention to because if we close above this number today and if we close above this number today and we hit some pretty important numbers on the downside this is the dow Jones remember we hit this again last night and we backed all the way you dropped 500 points folks and look where we are now we're coming back very very strongly towards the last hour of the day and should we close above here and should we close above here that means that we are going up and probably a lot higher than some people might think just stop and think of this in the context of the e-mini s and p and what it's done okay remember just put this up here we'll be able to get up here and see it was one second and there's where we go okay there was the 786 we came all the way down here okay to this level right here I didn't check to see if that was a 61 percent retracement or not and I am going to do that right now so give me a second here and we will take a quick look at it and tell you whether it was or not and let me move this around and put up a uh 60 minutes so I can see it okay now we're going to see where we are uh oh this is going to be interesting hold on I got to clean it up just a tiny bit and then we're going to go from the high shut the front door and raise the rent a little misses it by a heartbeat let me get this up here so you folks can take a quick look at it but it missed the fib point the 61 percent retracement by four points and that's what gave it that last boost because it's still bullish as long as they can get above that and let's just get it right here so you'll be able to see it and we'll get right up to it and then when I get ready for the break here I'm going to update it and show you where we were and there's where we were and where we've been since then we'll be coming up shortly and that will be right here there it is and we'll get it up here and you'll be able to see we missed the 61 percent retracement on the way back by two points so Mr Fibonacci is alive and well here in Tucson Arizona as we go through looking at this stuff uh right in here I know I don't do much advertising but those of you that have trouble and you need personal mentoring I still do that I do one-on-one I take it very seriously and if you have a question or anything you just Larry at TradingTutor.com and we can chat about it and uh it's uh it's a lot of fun and it's not that expensive hey let's take a break eight seven seven nine two seven six six four eight Billy Ray Valentine Capricorn if you're looking for potential trading setups in the stock market then Rocket Equities and Options Report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for Rocket Equities and Options Report today with a 30-day money-back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN.com TFNN Educating Investors you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at TFNN.com the opening call newsletter is written by 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 in 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 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 Pezzavento 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 TFNN has launched 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 the Tiger's Den available to all Tigers and Tigris' for just $1 for the year there's no catch or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of TFNN.com catch Tom O'Brien professional trader and educator founder of TFNN also a special guest on CNBC Tom will bisect and dissect the markets the Tom O'Brien show next on TFNN okay folks this next chart is the E-mini S&P four hour going back the last six weeks actually it's two months now but you'll notice here that we hit the 382 level right here on the 26th of April and we also hit it again here just three days ago and that is telling us that this is extremely strong support this one was slightly lower than this one it didn't break down today's high was at the 78 percent retracement of that level right here and you see why you can't be really bearish in here folks because this is a really strong trend and my goodness even today the pullback off of that high stopped right there at the 61 percent retracement now we started getting below that then you got trouble in River City but River City is still not ready this thing is still very very bullish if you remember gold when it was 1818 before it went to 2070 that's that's the same type of pattern that that you're looking at so don't get too bearish in here but you know swing trading sure you can sell and buy against those numbers but longer term this is still extremely bullish I don't I don't I don't I tell people that so I hope that they believe in now the Russell looks bad the Nasdaq look bad the Dow Jones it still looks as good as this one does but but the other two that Russell and the Nasdaq still don't look quite that good but that's neither here to there but we've we've got the Nasdaq has actually moved up today and I think that the S&P is up now today only one down right now is the Dow Jones so that's what we're paying attention to here dear as we're seeing some of these things unfold here this morning so I certainly hope that helps and remember tomorrow we'll be back on the air with both shows and hope we'll be able to bring you some good information like always so live every day in an attitude of gratitude and may god bless