 Vesters. The following is a presentation of TFNN. The Tiger Technician Hour with your host Basil Chapman. Call now. Call free at 1-877-927-6648. Hi everyone. Basil Chapman Thursday the 14th of April. We're looking at the tower having an early big spike. It was weak earlier on that had a big spike. Round to the 34,889 level. That is really nice action. It's just a pity it couldn't stay there because if it did you'd start to get the pattern that I talk about that changes from a declining cone like this expanding cone and starts to form a base to break and change into a cup formation. So it breaks that trend line but it's broken the trend line but it hasn't held and that's really important. Not a lot of selling going on. There's a lot going on when I was talking about when I did my webinar for subscribers last time. Thank you to all of those that came. A number of you said that you'll do it a little later. You couldn't do it at that time. I appreciate that. What I'm really looking at which I think is really really important and that is within the patterns that we're looking at the stalling formation you can see it in the weekly chart. Yes it was a fabulous run from the low of January February lows down the S&P and the other indices and it's holding in the higher range which is kind of in a midpoint between the higher in this case close to 37,000 with Dow January the 5th down to 32,000 just over 32,000 and now back into the 34,700 area it was and 34,800 so that this is good. If you look at the week monthly chart now we're almost the midpoint of the month also very good but I don't like these sudden sell-offs. I don't like all of the sell-offs that we've seen most of the week. Every rally couldn't be held certainly the Dow is holding a lot better than the S&P up 103 right now up 0.3 percent the S&P is down 0.44 percent down 19 at 44,427 this is not good getting closer and closer to test again test the 200-period moving average of 44,10 not happy about that at all. I want to see the two leading well I'd like to see all three but you're not going to get the NASDAQ doing anything really spectacular just yet it needs more time but certainly the Dow is the better one now mentioned in the den and Nikke Nike sports Nike B-Share sports and sportswear I'm doing very nicely today up almost 3 percent 377 and 131 that is definitely helping the Dow very choppy action but that month the weekly chart is in a sell mode the month is in a sell mode I can just think of this as a consolidation phase let's go on we want to look at the QQQ the NDX100 down four and a half at 341.80 not good at all not good at all it should have filled this gap yesterday and today should have been up in the 352 area instead it's 10 points lower 342 I don't like that one of the reasons why for subscribers to the opening call we've been raising cash but we're also putting money to work but the money is going to really specific areas they just in it I wouldn't say in a way they differently what I've done most of the last couple of years all together but the bulk is in very different areas a lot of the commodity related area so let me just go on with this I wanted to show you something I thought was quite quite fascinating first we'll do the IWM the rest of 2000 holding okay pulling back 44 cents at 200 a little bit better off it's low of four days ago but underneath the 14-period moving average which hasn't turned positive yet I just this is really and it's just stuck gold as I said before in the in the update now this is a 10 o'clock update at 1968 down 16 the last day of the week is often where a lot of gold selling comes in holding very nicely but if you look so last night I spent quite some time and I'll do this right now I want to show you a particular pattern that you can use everyone can use it what I did last night for subscribers a lot of it I said was going to be a visual representation of what many people look at mathematically or in the scientific way but for me I came to this as a visual artist I just I look at things visually so I've been looking and I mentioned this the other day remember at nine o'clock three nothing was three days ago the market started a huge rally and and it was really a spectacular rally right there went all the way to the round about 44 50 and then it pulled back and at 10 o'clock when I did the update just before the show I said have a look at this the technicals here the Mac these the casters one of the only reasons why I need to have some of these technicals I really need them when I need them was that it was strong but the right side tested 10 o'clock Eastern time with a slightly higher high at on the 12th of April at 44 66 75 was much weaker well that turned out to be the high of the day it plunged down to the 43 78 was it 75 50 area uh 15 30 so that's what's that two minutes that's 30 minutes past two and then it ran and ran you see the pink line it went negative then it went on the green line and ran a couple of times into buy modes one one peak deal and it got it got an alternate count pulls back and then it made a high the very next day it made a high on the 13th at two o'clock at 44 28 this is the s and p e many 10 minute chart and then what happened is it pulled back ran up again to a peak D remember D is really important in the champion methodology that's where other things can happen and what happens it was way weaker and then it pulled back and then that was the high of the day in the next morning at nine o'clock nine o'clock on the 13th when is nine o'clock on the 13th why that's today sorry that was yesterday yesterday it starts to rally very strongly and then what happened was at about 130 to two o'clock it goes to a peak D and look at the technicals the MACD stochastic and look what happened it still kept running because the nine-period moving average was still way positive it went continued higher to the doji candle high of the day which is at 44 49.50 at 1550 so that was was at 350 and then what happens it pulls back and what I'd say to subscribers when I did my webinar at four I said look this is holding very well this I forgot to put it in this is strong strong but this is also strong so I said we could see we could see a nice move sideways for a while before there's a pullback lo and behold we did we had a really good rally and then we had these two at one o'clock last night and two o'clock in the morning you saw these two this was strong and this started to weaken so the reason why I'm spending some time on this is because we're all about education here at TFN the technicals here are just a little bit weaker just so I'll say slightly weaker well what happened and then it had this big spike I bought the Eiffel Tower spike up to this leg A and then it became an A- because at 930 you often get an economic report at 830 sometimes and you get the big spike up and it fails immediately it looks like in the case A it's an A- so why am I doing this because when we get back I'm going to show you what's happening 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 in 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 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 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 what's separating you from the most successful men and women on wall street that's right information having all the information gives us the perspective we need to place the right trades at the right time the TAS profile scanner is the premier market profile based scanner powered by its acclaimed TAS proprietary algorithms this feature rich instantly filters over 2500 plus global financial markets such as stocks ETFs commodities futures and forex this powerful suite of tools leverages instant trade filtering and strategy formulation to show you emerging trades before they happen for a limited time you can save $100 off your first month by using the promo code upgrade and you still get a 30-day money back guarantee so you have nothing to risk level the playing field with the TAS profile scanner which you can find under the services tab at TFNN.com sign up today 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 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 at 1-877-927-6648 internationally at 727-873-7618 the reason why I want to take just a moment to show you that particular technique that I've developed over the years the vertical you're grading vertically the power look at this something else I spent some time on last night in the webinar and you can sign up for the webinar for my you'll get my newsletter and you get the webinar we've actually had some very nice positions over the last couple days of people have been signing up for I like to measure what's happened even if it's a long period of time from 2011 September in the gold contract look if I put a vertical line right here at the high that was made right there that was July August or so maybe it's September yeah September September of 2011 look at the technicals the magnetic was good the stochastic had already started turning down on balance volume the blue line let me just change this to a pointer the blue line was becoming overboard but hadn't yet become overboard it did on that retest um a little later about about a year later and then what happened is it started to pull back sharply now look what's happened you've got a vertical line here and that is I had it all notated I'll have to do it again that is in the gold continuous contract and that was the high of also in the fall that was August I believe yeah August of 2020 21 18 was the high this is a moving average that changes gets moved down the previous one was 21 47 I just it's it's it's beyond comprehension I understand it on my own way not in a mathematical way but it's beyond comprehension that you can go for 11 years 10 to 11 years plunged down from the 22s to the 1470 level and then come all the way back the beautiful left side right side price time match look at the midpoint this little doji candle spoke about last night how it's about four or five candles that I use all the time but that's all so yeah there are people that use candles for every every they say if it's this particular thing then expect in two days or three days and it just hardly ever happens if you read sucks and commodities magazine when they do all the tests of these different technical indicators candle sticks the candles themselves there are certain ones that I have a rule with certainly the chapter of roman candle it's a phenomenal technique that's still active I'm afraid to say for the S&P having the second month after the high the first month after the high a roman candle we'll get to that but look the maddy strong stochastic was strong and almost immediately they started turning down the difference is that in this particular scenario right here there's a monthly chart there was a retest and that retest was a lot lower and the technicals were very weak back in july or so of 2012 in this particular instance if you do the vertical assessment you can say forget about that one what are we doing now in this leg see in the new leg see in the monthly chart and you can see right here that the magdy this is this is just turned positive that just says it's a big deal for the magdy to pull back so for so long and then found the temerity to see the histogram go from the 0% line from negative to green so that says this internal bind that's the way I like to look at it that's based on the magdy the stochastic is gone all the way to about 23% and is now 61% and rising the unbalanced volume so I love to compare effects and effects to one another what was the effect of going to the peak f top september of 2011 what was the result of the magdy and stochastic in the period going after that and what's the what's happening right now and you can see that yes in the then good eye it's a it's a huge bowl or cup and handle one of my least favorite patterns why because this handle usually says in my work that I can go above the previous high and then come back and do some retesting my favorite is the is the chaplain wave cup and ladle formation and that says underneath the previous side of d e or f there's a new buy signal that's gone to a buy mode that's in now the monthly chart in the gold contract is a buy mode because the magdy finally crossed positive look the green line above the 14th kind of messy isn't it let me get rid of this I don't want too many of these is positive and look what we've got we've got a peak C and that says in the chaplain wave if there is a powerful move in this particular bar that goes sharply above the left side high in a shorter time frame in the cup formation to a midpoint in this case it's already there that becomes a chaplain wave overlapping wave and that says not only do you go to leg C it has to go closed above this previous high that's the high in the continuous contract of the august of 2020 21 18.3 that'll the price will change when it gets smoothed out but that is everything else is the same if it goes sharply above that starts to actually close on a weekly basis but it really has to be on a monthly basis above 21 52 then you can expect yes there could be a pullback to retest the previous lip high that was a peak E of august of 2020 but it should go to at least a D so one of the things about the cup and ladle is that this little mini this is the huge cup and handle I don't like those but the cup and ladle is forming its own potential chaplain wave cup and ladle so cup and handle not my favorite cup and ladle one of the most powerful moves that you can find because it says you've gone above the previous high in less than a D if it's at a C you expect the C to go at least to at least to a D so I wanted to show you the vertical aspect of analyzing is almost as important as the horizontal one all right enough with that Exxon was mentioned Exxon is trading at 87 23 I showed this in my webinar last night the large rectangle formation is different to the narrow rectangle formation the large one says you can form a big rectangle making a lopsided gravy cup not a regular cup but a gravy cup because the midpoint isn't the midpoint it's actually either on the left side or the right side and then if it starts to make high highs and higher lows after the flagpole break down at a D or an E or an F you can expect a rally in that it are you always used to say in a shorter time span we've seen it happen for the last year so many times in the same time span that in the same time span you can see a rally that should take the price either to just under right on or just above the previous peak that was in this case the high this is the flagpole high at a peak D in Exxon mobile on the 8th of March at 91 51 but if it fails at a peak D underneath the previous D be careful because the two fighting patterns of the cup and the arch are going to be in place so this is a leg D I suspect that we are getting really close in the oil sector it's just some kind of a digestive phase and that applies to CVS is actually gone CVX that is done the same to go onto a leg E underneath the previous high that's the rule of thumb is fantastic here are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with become an apex predator in the trading markets and join the Tigers Den trading room only at tfnn.com the Tigers Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas join the den and surround yourself with the sharpest minds in the trading world subscribers to the Tigers Den are also the first to have their questions answered live on air and can privately chat with our tfnn hosts live during their shows interact with other tigers and tigers says they share trading ideas news analysis and discuss the market action all trading day subscribe to the Tigers Den risk free with our 30 day money back guarantee and become part of the tfnn trading community tfnn educating investors you could be making money off the stock market and if you're already making money off the stock market you could be making a lot more check out tfnn and tiger tv and get expert investing advice to give you the power to control your financial future go to tfnn.com and find the newsletter for you whether you're into trading gold metals futures currencies or options you'll get advice and analysis to help you seriously get ahead tfnn also features trading services with a 30 day money back guarantee for new subscribers as well as tfnn's tiger den trading room trading software and educational webinars for all trading levels and make sure you check out tiger tv for free on tfnn.com or tfnn's youtube channel for live financial content from 8 30 a.m to 4 p.m eastern on market days stop watching on the side lawns while other people get rich and become the investor you were born to be tfnn educating investors tfnn is excited about our new software charting program the art of timing the trade charts in collaboration with tom obrien 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 garlys 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 thinkorswim for more information just click the thinkorswim banner on the front page of tfnn.com Hi folks we're back and I was up on the 29 recipes coming back a little bit just just on 18 let's go to our first caller maybe he's not he's the last caller but he's certainly the first one of the day greg and austin taxes greg how are you yeah i'm well basil how are you today i'm very well you'd like to look at alcoa and those are uh american airline aal oh oh aal all right just as you're saying it let me just say that alcoa is actually acting very well and it's got a pc in the weekly it should go to a leg d over 98.09 in the next couple of weeks let's go to aal so i've got aal right in american airways group oh i haven't finished the notation on this one um i did a left side oh isn't that interesting we were just talking about this very thing i've got this um american airlines back in uh let me give you the number this is on week of 19th of march 2021 hit 26.09 and uh it makes a cup formation and on the 4th of june of 2021 it hits 26.04 five cents lower but look at the this exact technique i can't remember why it was there i i remember doing it at the time but i i'd forgotten that it was there um look this is the same thing i've just been talking about from the left side which is strong and the right side which is weak and then it came tumbling down there was the high in the 26s it ran down to alone the 12s and it's trading right now at 19 so why are you going to tell me what you're what you're looking at and what your plan is i'm just going to do the notation fly away okay yeah well i i have to admit i was co-tailing off of you you'd talked about six flags multiple times and saw that the airlines were doing actually really well compared to the iyt so um i've actually owned it twice here in the last uh i don't know two weeks or so and my my question is but after just listening to you this morning i'm thinking that it's not um in a leg uh g rogue wave but that was my question is is it a rogue wave g and um if it isn't maybe you could just go over a rogue wave and why that may not be if you don't mind to help me understand it a rogue wave more technically oh okay so what yeah that's a fabulous question and it's absolutely pertinent to what we're looking at right now so let me give you um oh gosh i had that i have dozens of them written down i just don't have it in front of me and i've just done so many hundreds of charts over the last few weeks preparing for last night that um there's a difference between a right arm extension and a rogue wave and basically you know what i'll find i don't want to talk about it then make one up let me over the weekend i'll i've got the more written down i just don't have it in front of me right now here let me do that and basically what a rogue wave does is as you're going to recovery highs usually it's actually neither all-time highs or highs that are you've been coming down for a long time all the technicals appear to show that you correct in being short and then out of the blue this is one spike it's just a real rogue wave this is one spike it comes from nowhere and that single bar it looks very much like we're doing right now but it's usually one bar and it screams above the left side high but usually we've been going down for a little bit longer because you are in fact in a cell mode in that time frame and everything says you're a hundred percent correct but suddenly Elon Musk makes an offer or whatever it is or it comes out with an earnings and it has a sudden spike and what happens is the people who are short the price lost just long enough to go over that previous major high on the left side right for them to say oh my I knew I shouldn't have started what a crazy this is and they covered the shorts and the people who are long so I knew I shouldn't have taken profits I should have stayed until what am I doing I've got to get back some of it and the price lost just long enough to get both the shorts and the long strapped and then the very same bar or the next bar plunges and within like two bars sometimes you are back to where you were before this whole incident that's a real rogue wave just exactly what happens in the ocean when suddenly there's a 60 or 90 foot wave that just springs up and then it's just gone so that's the road the right arm extension says that the technicals were actually improving one of them at least the MacD or the stochastic to allow it to have a steady move up that had the single leg up that just failed completely that is a little different oh oh oh let me do this in a sense this move right here in the five-minute chart in the E-minute this morning that could have been called a rogue wave right there this is let me open this up because everything was going down this exact this is a rogue wave perfect good we got our example on the we'll use the 10-minute chart that's fine look the technicals were all failing the nine period was under the 14 period the MacD was weak the stochastic was weak it went to a low maybe it isn't because it had too many bars but you would see it better on yeah no this is too many bars but it has the same characteristic that at 9 10 this morning if you were short you were fine you were right that was everything was weak and then suddenly there was this this explosive move and it gives it all back and as it gives it back within two bars it's back or below where it was it's pretty much like a rogue wave so i've got that out the way and i just nice opportunity to explain it but this one here it's above the 200 period moving average the nine period moving average is over the 14 the mag D made an M shaped pattern so that's still very good and it's gone plus the stochastic is the one week link the on-balance volume is good so this says to me no this is a move in American Airlines that you have to consider it is overbought in a very short term if I went to say the 120-minute chart you can see it's just a leg B but that's not the point the point is that the technicals in the time frame that we're looking at are still very good then I immediately go to the next time frame which is the weekly chart and this is wow finally the mag D's turned up finally the stochastics at 69 getting towards the 80 percent you've got the v-shaped pattern in the on-balance volume the the nine hasn't yet crossed positive but we've got a down channel with the chaplain weave inside wedge so you can see i'm using different time frames and that's i don't know if you can see it like can you see it on your right um you're right here great so look at this so i've got the chaplain weave inside track besides the down channel we've got the inside track repellent zone so far and it's a Friday except it's Thursday it's the last day of the week and so far the candle is really good so every other time is try to break above the train line and it's failed this time it has so trying to put the whole picture together what i'm going to say to you is i did the same work earlier on on delta and delta has also just skyrocketed and it's got a gap up to a pd the last to a leg d the last pd that was made in delta was on the 16th of feb at 45 14 and then it just came tumbling down under 30 i mean that is 15 points and now look it's above the 200 period and it's got a pattern i want to discuss this morning actually a huge falling x formation in the weekly chart so let me do this i want to go to jets which is the u.s. air like can you hold on oh sure great so so we're going to be looking at uh delta we're looking at jets we're looking at american airlines we'll be right back the thread are you in the market for buying or selling real estate in the bay area including the surrounding st petersburg tampa and clearwater markets tiger real estate llc 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 727-329-8322 or email us at tiger at tfnn.com that's 727-329-8322 call us today the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information david whites 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 david delivers his weekly newsletters every friday with updates throughout the week you can get the technology insider at tfnn.com for only $37.50 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 biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade labu or labd directions daily s and p biotech three times bull and bear etfs visit direction investments dot com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-476-7523 the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the fund are designed to be utilized only by sophisticated investors such as traders and active investors distributor for side fund services LLC don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv just before i get back to kregg i question that the dead was um about the wc that smells for a two minute live chart thoughts yeah look how it stopped dead in the 200 feet moving at a peak b so watch carefully because if well swagger breaks and closes under four it's a 4666 if it closes under 40 i'd say 4626 there's a chance that the nine period will move down and can be negative you want to see by what's the time now 1042 you want to see by about 1045 a test of 4721 all right let's get back to great so this is what i've been doing during the break because i did a bunch of things and um let me just get out of this because there was a question about silver as well slv so this is almost the same pattern where he's had a cup formation starting to break to the upside so that's looking good now let's get back so what we're looking at is jets which is the us jets is the us global jets etf so the most important thing is it made a low just under 17 around about march the 7th and then it screams and it goes peak a peak b peak c a little d stops at the 50 period moving average pulls back then the pink goes green so the nine period moving average goes green and it goes to peak e and it stalls with a whole bunch of doji candles right on the 200 period moving average and then pulls back so the pattern that i was talking about just a moment ago is applicable here this is the chap we're falling axe formation runs up gets to a d or an e and then it pulls back with lower highs and much lower lows then it starts to form a base and it doesn't look exactly the same i wish i could make a template a plastic one that i could just put as a cover all over that i could just slide it along anyway it makes a cup and it breaks above the declining upper declining trend line and that says you could get a test of the previous major high in the same angle and the same duration this one just did it with this big gap today it went above the 200 period moving average it stuck at 21.92 but now what do i call it well i'm always very conservative about this because the magnia is the m shape pattern the stochastic is still weak the unbalanced volume is is rallying it's okay it's not great and the 200 period moving average which was incredible resistance then support back in February and then just completely broke down the first time we revisited it was the second time actually in about two and a half weeks i'm going to call this an f so i haven't yet even given an alternative count f slash a i don't need to i want to give it two or three days but now i look at the weekly yes this long down falling axe formation lower highs much lower lows it's been like in a channel for ages but this is the first time that we're seeing the sharp unbalanced volume of spirals through the upside with a move that is is in the generic that is the etf that includes delta includes i'm sure it includes jet blue it includes a american airlines so what i am looking at here is if i look at the weekly the monthly chart remember i i make a big deal about how useless this flag pattern is the diamond when you're coming into to the to the midpoint of the diamond or the apex people say oh my god if you break to the downside it can collapse if you go to the upside i just say no it's just a diamond all that happened is either it's going to make a dreaded age pattern or it'll start to form another cup well it's hugging right now the 149 period moving averages so that's the same to me this is the start of an attempt in the airline sector to not only go against the general downtrend of the market but to actually show a little bit of leadership action and within that if we go i mean jet blue has had some horrible um certainly in the boston area just terrible stuff going on they just messed everything up it was a fantastic airline i used to love it but now evidently they they they they're short of people and all sorts of things so i'm going to go back to american airlines that was your question and what i am going to say is for the moment i'm going to call it g i another big question is this are you in this position i must did you say that you were in it yeah yeah yes i am so you have a profit you have a profit at this particular point i i was in it 1650 so yeah i have i have so you see that that that to me is really that's the when people ask me though and they say you know we know that you really like to get the turns you like to get the market lows the market highs you like to get stocks right after and then every once in a while you'll get something in a d like we just got the other day we still worked out fantastically because d we is where you got to be a bit careful and then my answer is i tried to look at the conditions and that's how i make my decision so if you get incorrectly i would not touch this position that you got in in the 16s what i would say to you is if we can get through this weekend and by Tuesday of next no let's make it all the way of next week if all of next week out American Airlines has a bit of a pullback and it goes to it's a 1917 it pulls back a dollar but it holds the 200 period exponential moving average of 18.18 in the dating chart and in the weekly chart it's had you're moving sideways so even going sideways should take you out of this down inside track repellent zone because you want it now to become a propellant zone if at any point it's is able to not break under i'm talking about a close a close under 18.42 18.38 instead today's high of 19.49 it actually i think it doesn't have to hold it has to have one attempt to get to 19.70s just anywhere there and then it can pull back but it has to show that it has followed through upside action to me that'll say you know what i think this is not a g but it's a g slash b i don't know if you saw this but did you see the little the little uh the little ictus the little peak right here so it goes from peak f at 18.57 on the 5th of april over the 200 period moving average for five sessions it goes over it and then it closes well under it slides down doesn't go pink in the nine period moving average it's still very positive but the low that was made on the 7th at 16.37 had an inside day the next day another one the next day except that that high was higher than the day before 17.02 to 17.23 and the next day was lowest that says to me this is a great peak it was a great lesson what a nice lesson this is a gray a oops i keep writing the wrong typing the wrong thing gray a it's really a gray b but it's a blue g in other words it's ratted it's done very well it's even holding now this is about the time 10 o'clock to 10 20 to 10 40 on any big gap that occurs usually this is when you start to see the give back i like what i'm seeing here and i'm just going to suggest that your entry point at 16 the most the important aspect is this 200 period moving average and we just draw this across and you'll see how important it is for it to start closing above look the high that was made back in january at about 19.10 or so peak e it plummets it comes back down it goes to peak a peak b peak c minus because it couldn't hold over the 200 period moving out and tumbled down to the 12 and now it's doing well it's trying to turn this into a positive i like what you've done and you know what i'm just going to say usually i'd say take a little bit off i'm saying keep your position and on monday i'm i'm going to do some more on this i like it very much thank you for your congratulations on your entry point break thank you guys i hope you have a great weekend 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 and stock prices get the opening call newsletter by basal chapman in your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with become an apex predator in the trading markets and join the tiger's den trading room only at tfnn.com the tiger's den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas join the den and surround yourself with these sharpest minds in the trading world subscribers to the tiger's den are also the first to have their questions answered live on air and can privately chat with our tfnn hosts live during their shows interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day subscribe to the tiger's den risk free with our 30 day money back guarantee and become part of the tfnn trading community 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 i'm going to run through a bunch of things last night in the webinar i had a question about amazon i said amazon stuck in a range and i think it's going to be stuck in a range for at least i wouldn't be surprised if it's maybe another four to six weeks or more most importantly it has to hold 2,500 at any point there's a 3,062 there was some good news is still down 48 i think it just it's been a spectacular win this is widening the higher highs and higher lows i'm sorry lower lows there's an expanding wedge formation not one of my favorites but most importantly i just think it's stuck so if you in for the long term this is a fantastic company i'm not going to do anything i just said i i would take a little bit off if you haven't taken anything off right now you're i'm sure you'll be able to put it back about 10 or 15 percent lower at some point that's okay that's amazon just stuck in a range good company stuck in a range i did x on i did del and that was what i had to do um hi h hi h i am x in the den i don't touch this we did have fantastic gains on hymax technologies a long time ago i've not looked at at all it's in the area of the needs chips etc it's just it's broken the major long term sideways rectangle formation is trading at 922 i i i wouldn't be touching it e em was a question uh e em an e p e p v shorting e p v is the what is that e p v is the short side of shorting the e em all i'm going to say is the e em europe this i'm sorry the emerging market etf i i i just don't see very much there it broke to the dust just like the tlt it's just broken it's key support level in a major long-term down channel this is not a good side so i'm just going to say i do agree looking at the short side of e em but um uh i just give you the parameters if e em and by wednesday of next week is over 45 80 let's go to 46 20 then you've got to be careful but at this particular point it is very big folks have a great weekend and and see a happy happy easter happy uh pass over and uh there is still time to get my weaponized i should be up today and that'll be