 The following is a presentation of TFNN. The Power Trading Hour with your host, David White. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, David White. Welcome all to another excellent edition of the Power Trading Hour with me, your wonderful host of the aforementioned Power Trading Hour. And as always, it doesn't really matter where you are, where I'm at, although I'm at home, as long as we're here at the appointed time. The following takes place between 2 p.m. and 3 p.m. So what did we have? We had a fairly big signal on Friday, and that was 18 billion shares from the CBOE consolidated tape that matched the previous low of 18 billion, although we were a little bit lower. So it was about the same, didn't blow through the lows, closed a little bit higher. And do I have it here? Maybe I have it. Let me see if I can find it. One of the more interesting things I think I had in the newsletter, no, did I delete it? I did it. Maybe it's in the newsletter because I thought it was one of the biggest signals that I've ever seen in the market. Let me see if I can't find it here. Yeah, there it is. Let me bring it over here for a second. The TD9 count for the 8th on Friday, I don't talk a lot about TD9s because they're not, you know, a number just because it got to 9, your odds increase, but it's not a burning bush in the markets. You can get markets that extend and a lot of markets that you can't get a TD9 count below a 6 over time. But man, did you have a ton of stocks already eight days down and, you know, when you have a few of them or some of them, kind of interesting, but to see maybe a little over a thousand shares, I mean, a thousand stocks on a TD9 gives you great pause, whether this is out of about 5,000, that you're almost at a bottom. All my sector oscillators had almost everything at the lows and you gave it your best shot. Now does that mean that if we have what Wycoff called a selling climax that you don't come back there and the answer is no? But generally, as Steve was saying about five minutes into the end of his show, you can get some fairly extensive and long retracements off of a counter trend moves off of some lows. The volume would suggest, since we had a lot of volume, but suggest that we are going to come back and retest those lows of last week again. You've got two really big different signals. You've got that selling climax signal from a Wycoff point of view and you've got, you know, which is basically the price movement and the volume, but not being able to blow out the lows. Then you've got some of the other things like TD9s and my sector oscillators. A lot of them have just been down for like five days to levels that say that it's getting time to buy, but you know, you have just that much in the way of outliers for the market that we were in due for a bounce. Now, there's a few things going on today. First is options rollover. Big rollover and especially after quad witching, you'll get a day and a half. I'm going to say this time because of the short and weak normally on Monday and Tuesday. You'll have one day that's up and one day that's down. I'm suspecting that what we're going to get is a strong day up today, maybe a little bit of a pullback tomorrow. Maybe through the lunch and then maybe we're going to start seeing this thing try to claw its way back up to about 4,000 on the S&P cash. Now, time forecasting is a lot tougher than price forecasting because a lot of things can happen. You can get there a lot sooner, a lot later, but I am suspecting that we're going to probably see something where this takes us up all the way through the week of the 4th of July. We'll have another three-day weekend. There's at least one of the things I've been talking about in the newsletter for a while is whether or not we're going to see the executive branch start to fold on gas prices, although they want really high gas prices to make us all want to buy electric cars. Electric cars are $120,000 or $140,000 for most of them. There isn't enough lithium-ion or lithium-4 lithium-ion batteries or any other kind of batteries. Most of them are made from rare earths. Kind of a pipe dream of believing that if we could just jack the price of gas up, the EVs will flow. They're still less than a half a percent of all cars sold in the world. There is the idea that maybe we can just force people into it. I don't think it's going to happen. Things probably just going to get worse, but at this point I think the executive is folded to the pressure of the House and Senate running for office to give at least a little bit of a respite from it. We've got talk of what some people call a gimmick by getting rid of the taxes. That's about a quarter of a gallon. That'll help a little bit. And then, of course, trying to ask for the kindness of strangers for the Saudi Arabians to start pumping more fuel, and it looks like they've started a little bit to that way already. I had some people ask me about my theories on natural gas. Let's go ahead and look at boil. I don't see a whole lot of reasons to think, as I said before, that there is a change in this. We are down to 60 on boil. You are finally where you probably should have at least some level of support. This goes back to a gap higher and a gap lower. The last gap on this was on April 5th, if you want to go back as home gamers and take a look. But you have pretty much an equal gap higher and lower. The previous gap on that started back on November 9th of 2021. So you're back to what should be fairly decent support. You have a big reversal day. If you want to see what an abandoned baby or a shooting star is, this is the kind of signal that you can't miss. A proverbial priority push on the 2nd of February this year in Boil. That's what you're looking for in Canada, something to be playing out there. Anyway, we're back just above that a day of the 2nd of February. We're back. At the time of booming inflation, we have purchasing powers eroded. There's no better place to protect your harder and money than in gold. Vistagol flagship asset is the Monttard 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 tier one mining district. This is a large-scale, low-cost project with significant existing infrastructure and a politically safe and friendly mining jurisdiction. Vistagol just completed the Monttard feasibility study, which resulted in a 7 million month 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 distinguishes Monttard as an attractive, diverse party, ready-development stage gold project. Vistagol trades on the New York Stock Exchange under the symbol VGZ. Are you grinding in the market, but seeing little to no return? Or are you a successful trader simply looking to make your job a little easier? Learn to take the path of least resistance with David White's powerful trading newsletter. David White is an accomplished trader whose deep understanding of technology and the markets allows him to consistently find and share winning trades. Support and resistance define the ranges in which stocks trade. By understanding these trading ranges, David White is able to find a path of least resistance. David White's trading newsletter, The Path of Least Resistance, is delivered daily before the market's open to make every trading day an easy win. Visit TFNN.com today and subscribe to David White's ultimate trading newsletter for $119 a month and try all of our newsletters risk-free with our 30-day money-back guarantee. Take the path of least resistance at TFNN Educating Investors. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights, is published every morning when the 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 at 1-877-927-6648 internationally at 727-873-7618. And we're back. So, just early, it's an abandoned baby. Just thrown out with the bath water. The old Nissen candlestick references. Anyway, that is, if you're looking for one, that is it. Anyway, back to a market already in Prague. Let's do a little history, and then we shall move on and upward. On this day in 1965, the birds' album, their debut, Mr. Tambourine Man, marked the beginning of the folk rock revolution. Just a few months, the birds have become a household name with a number-one single and a smash hit album that married the ringing guitars and backbeat a bridge invasion with the harmonies and lyrical depth of folk to create an entirely new sound. Yeah, yeah, it's okay. I find it kind of irritating now. I kind of, I really like the part in Animal House, where Bluto comes down the stairs and catches, kind of, what's the guy's name? I'm trying to remember the actual singer that was on the stairs, just grabs his guitar and starts beating it to death. But we moved out of this part of the British invasion within a couple of years, but I didn't have to live through it. So that's all that mattered. What was it? I want to say, I think he is the same guy that did the, what else was he? He had a bunch of songs. Anyway, 877-927-6648. The birds are not on my playlist, but I can see how it changed some stuff from the way it went. 877-927-6648 as we bring up some charts to start talking about it. Let's take a quick look at UNG too, because you are finally at least at some support levels. Let's see what the old UNG, pretty much the same kind of thing, let's get this cleaned up a little bit so you can see it. Just a tad better. Anyway, we're back to two, well, I'm going to say three attempts at this level that go back to the 11th of April. And that gap up had 8.7 million shares. You came back with 8.5 and then 13 million shares, but Friday about 7 million shares. Today about four. So Spartan, starting to see some support in here. As I said before, you've got some real seasonal weakness about this time of year. You want to be looking about the mid-part of August to start dipping your toe back in the water. Yes, but what is his name? What's his name? He was, he was, does it say in here? He was a, if I said his name, you would know it instantly on an animal house. It's going to drive me nuts, but I shall remember. Oh, what happened here then with something as arms in the photo, let's go anyway. Someone I'm sure will email me at path at tfnn.com and let me know or give me call at 877-927-6648. So what do we have again? We kind of got to some port levels that go back to some longer gaps in the spies. You really have kind of a little bit of a reversal pattern with a gap up here. What I would love to see to buy this and probably hang on through mid maybe that first week of July is maybe a pullback of about half of what we have here today. Now we talked a little bit about the other signals that we've been looking at on Friday and that was these three gap plays. So a lot of times you get the three gaps and then it's just over. You got one extra day and you're back up into this gap. Now the theory on three gap plays generally is if you're in a regular market, not horribly bullish or bearish, is that you're going to come back up and at least try to fill all three gaps. It tends to get filled very quickly on the way down. It takes a much longer time to fill them on the way back up, but if you're thinking about counter moves that could last kind of a while on the spies, you could get right back up to 400, which is kind of one of the reasons why I think we could see a 400 print or 4,000 print on the S&P cash itself coming back into those gaps. So pretty good indication of a three gap play here and the idea of a three gaps is you get three really large gaps down and then it will go back and try to fill those three gaps and sometimes it's generally on a daily it's not something that gets filled in a couple of days unless those gaps are on the way up, on the way down as they're here they take a little longer. So could we see this thing kind of fool around him and Ha do a couple of two steps forward, one step back days and see that we get to maybe the end of that first week of July and start seeing 400 prints. That's probably it. That'd make a nice 50% kind of a retracement, maybe even a 60% retracement and I think it's probably nothing but kind of a relief rally so far and maybe we don't get up to that. But you got a pretty good chance of I'm going to say 80% chance of at least hitting somewhere in that gap on the spies now the the open of that day which is kind of where I'm looking at this thing starting was 394 so you don't quite have to hit 400 but generally hitting somewhere around that day that open of and what's called 395 396 397 if you're feeling fairly bearish that would probably be the best risk reward that is coming in the near future. Stephen Bishop thank you somebody I couldn't I just couldn't I just couldn't remember on and on saying there was a bunch of songs in the 70s wasn't it or was he in the 80s. I think it was the late 70s early 80s Stephen Bishop he's also in a classic movie called Kentucky Fried Movie and in a short in that movie called Catholic High School Girls in Trouble kind of a a farce on the typical no Blue Dose John Belusi I knew that it was the singer it was him but he was yeah it was a a a a homage to exploitation movies of the 70s the drive-ins 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 metal sector as well as the markets that move gold which is the currency and bond markets new 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 the XAU HUI GDX as well as more than 30 different mining equities to see for 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 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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 as we return we'll take a look at some more let's go to the usual suspects that everybody is always talking about let's take a look and just see the last little bit here you got a gap up on apple this is why I think we're probably going to get a bit of a pullback either tomorrow or next day but I think it'll probably start tomorrow you gapped up from this gap down so far the volume is about 50 million shares to the gap down of 107 million shares we had about an hour and a half left not the best we did have some numbers come out over the weekend that I thought were very interesting for NVIDIA and AMD we did find out that it was always kind of hard to tell how many of these video cards were sold to bitcoin miners but Wall Street Journal did have a fairly good in-depth article and they've come up with the idea that they've sold 15 billion dollars were the video cards for mining crypto currencies out here AMD did have fairly nice low on friday with 105 million shares that goes back to the may 12th low at 83 27 so it went below it and now it's back above it that had 130 million shares so you're about 25 million shares lighter today not so much 68 million shares but a nice little gap up let's look at some of the other ones in VDA okay okay everybody's talking about MU today I think at least in the short term maybe not in the long term people are talking about MU you did have a bounce but it's not that big a one out here your volume's fairly light there is a thought that all those video cards are going to come to market when they came to market before on the first big downtrend uh it was still hard to get video cards but if you're talking about 15 billion dollars worth of video cards that could get possibly sold remember we are now below the price of production for most crypto currencies and that means that they've turned their machines off because they use more electricity than they're more than they're likely if they're lucky to get if crypto currencies get mined for them so you got a little doji out here today but i think there are a lot of pressure right now micron made a lot of its money maybe half of its money on VRAM for those video cards and why are you getting a bounce out of here today the overhang of those video cards are going to be probably what people are talking about for a while in vda i continue to save my pennies because i need a four thousand dollar video card but that's it now for nvidia it looks a little bit better and my guess is because they have a different business uh than just video cards itself they are selling a lot of specialized technology uh to big business and that will continue unabated and unaffected by bitcoin miners to a greater extent than amd will you've got kind of a not as as good as a low may 12th 71 million shares and nvidia at 50 155 67 you got it with 63 million shares at the max so yeah is it lighter yeah you have a good gap today with a little better volume yes um but again uh energy on the way up is about the same on the energy on the way down and that generally connotes it best some kind of trading range so can you get a short squeeze and a move higher in these you can i think it's probably going to be september uh in fact we got some decent uh dates uh from nvidia and amd about their next edition video cards and it's kind of an arm race uh arms race so you're always looking for the last uh the latest card if you're a gamer uh or if you're in machine learning um but there are probably going to be a ton of video cards available from those crypto miners uh that go belly up on this uh 877-927-6648 and i thought i had something that go away and i think it did i don't know why that did so let's go back here and open this back up just so i know and see okay i've got a today that still shows i've got a something a question here but i don't know where it's at okay we shall see it says i've got one over here too do i have it up here maybe i don't know where this question is on my screen okay someone may have private message me but i don't know how well it's gone away now so who knows okay 877-927-6648 uh anyway we're looking at video let's go ahead and take a look at the other uh fang stocks although now that they've changed their name to metamucil is it a mang stock hard to tell anyway um microsoft did kind of blow out never really had a good signal uh you're back really just into the candle of the tenth of this month that was down on 31 million shares you're up on 15 million shares so the big cap stocks um are higher but they're still problematic you may need to pull back to about 24750 on lighter volume to find any kind of low but i think a lot of these stocks as i said it may take us into the first or second week of july uh to get through a counter move in a market if that's all this is a counter move higher but uh you had lots of short positions you had a lot of people you had a lot of stocks that were incredibly washed out so can you go up on no volume i've seen that too but my guess is we're probably going to have a few weeks of higher prices but it's going to be a lot of two steps forward one step back and i think one step back comes tomorrow uh okay is that uh am i live on that i hope i am okay let's go back to this okay and that how come i can't uh there we go okay finally got back okay pslv take a quick look at that pslv okay physical silver uh on the good side as you came down and had light volume uh a few days ago the downside is you had more energy on that move from june 6 down uh to june 14th so i don't see a lot going on in there let's take a quick look at the gld see if anything else these things all just kind of look like they're going uh sideways okay we'll come back we'll look at gld a little bit longer and some of the other fang stocks and some of the other stocks 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 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lot of movement here over the last few minutes and up about 94 points on the s and p cash as i said ideally you want to see a pullback of about 50 percent of today's move higher it's going to be a bit of a short squeeze and then a pullback tomorrow and then maybe we have something to hang our hat on depending on how the volume comes in right now you don't have a lot and what else do we have out here we're going to look at meta musil is that meta now i think in it meta musil it is yeah i mean the only good thing is you didn't really have a lot of volume last week today breaking that low and significantly looks like it's going to continue on so i don't see much in that to question about disney is that ready to turn they had a horrible weekend we talked last friday about them having a horrible week besides the chinese threatening to take disney world china from them they got panned on buzz light year and i think they got 15 million dollar opening weekend which was horrible for a movie like that overall budgets about 600 million dollars so the question is whether they can even make their money back i kind of like the you know the toy story things especially since a lot of that was done in in the vein of my work in the in the 90s toy story as was of course the first animated full length computer animated show or movie but to that point everything else had been bit parts and part of it but i don't know if tim allen doesn't do the voice of buzz light year was that a stupid mistake i think anybody my age if they were taking their grandkids or had younger kids they probably still remember what his voice sounded like i don't think it's a great idea to change that besides he's still around and he's fine it's not like he couldn't do it uh but uh yeah weird anyway uh 50 million dollars into 600 million opening week um they're gonna be lucky to break even on this deal on what i thought probably should have been a uh a home run with uh all three bases uh on there but not much happening for the disney company today okay what else do we have a question about the ibb let's take a look here we had a lot of biotechs that were heavily shorted um we talked a bit about this uh the ibb did look fairly good on thursday last week he had the may 12th low 105 36 with 4.7 million shares uh your max volume out of here was uh the uh was uh three million shares so you popped fairly decently on friday got a little bit more of a gap 114 is going to be very strong resistance though in this so you may have gotten the lion's share uh of at least the index over the next couple of days i'll also have a question on the tlt which we'll get back to um what do you have here you got uh and you had that kind of a little almost a little well you had a doji now you got a tombstone forming out here today my guess is uh this and the dollar are the fed is going to probably start trying to keep the volatility limited uh for a while i think we were talking about gold when we broke and i didn't get back to it let's take a quick look at that um yeah i'd you know you did you break that what was the low 168 30 so you did test the low of may 13th see if we can't get a better chart of it here you tested the low but the volume was the same i don't think much changed from our question on friday and that is you want to see 168 tested uh in the gld and what that uh actually refers to in the uh actual futures i'm not sure but uh pretty easy to take a guess out here a question about the xme uh that we get a bounce out of here we might start looking for a little bit more i do like uh that you didn't blow out the lows with volume you had 10 million shares on may 12 at 47 65 you got back in it uh what's the close here 47 41 you need another 20 cents to get back into the trading range but again i like to see two things i'd like to see the lighter volume which this did have and lighter energy going down which this did not have uh if you get both of those uh much better chance you're going to have a v bottom uh more likely you're going to have some consolidation as you go across uh the xme uh over the next few weeks then a big v bottom question from ron and some others out here we'll look at workday wda y okay okay what do we see and you don't really have much in this again a lot of these came down especially this last leg on most dinner on more energy from june second high down to the june 16th low don't see anything i mean you got more energy so i don't see a whole lot of bounce out of that one okay what else do we have okay uh let's see look at apple uh question about amazon now we talked about this when it did make it slow the first low 102 41 at 132 you tested it with 103 had a really nice move higher only slightly lighter volume back to the previous low of 100 million shares so you got your second low with a little lighter volume i would like to see a lot more you got a little bit of a doji out here too uh these big caps you know maybe they're going to need a lot more consolidation than maybe the medium caps are that i've seen out here okay what else do we have any question on tesla we're talking about this uh kind of interesting a huge move out here i just very tough for me to see if there's enough uh raw materials uh and for first uh to move that many things that uh that's but uh a nice day with some decent we'll be back in a 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 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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 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 as we come back to a market that's kind of hanging on to some fairly nice bounce as you get these big kind of bounces in a bear market as we've talked about so far almost 100 points on the s p cash so what are we going to do we're going to look at the volume and again as we said 18 billion shares on Friday part of that is quad-witching 8.4 billion shares so far today so yeah we're getting kind of a bounce out of here is it going to be a huge one and I don't know part of it probably options rollover that continues tomorrow if you if the first day of options rollover is up about 80 percent of the time the next day is down and ideally if you're thinking we're going to get that kind of a couple of weeks up as I think I am I am believing that is the path we have now that you want to see this pull back on lighter volume tomorrow and to see a lighter volume rally maybe all the way through the first or second week of July so keep an eye on those volumes just because his light volume doesn't mean it can't go higher just means that you're setting up for the next real big move as we look at the rest of them as we said is it a huge volume day for these no it's more about price and of course a lot of these are what you're watching is the wheat being separated from the chaff and that's pretty good anyway that's probably kind of it I don't think there's a lot you can hang your hat on we were talking about Tesla when we left it's a good day it does have good volume my guess is a lot of people were short this thing you do have a higher volume low than the previous low it didn't quite get there either so 620 is probably going to get tested as I said probably still looking around the 530 long test sell when you can not when you have to that'll be the next few weeks and we'll see you here tomorrow in fact have the same bad time building wealth trading in the stock market seems impossible to