 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 looking good feeling good what we're gonna do here is we're gonna look at a chart that our good friend Stan Harley the Harley stock market letter showed us last week basically what he did he took a snapshot from 20 years ago and then moved it forward in time and you can see by looking at this chart that it really lines up incredibly well with highs and lows now oh there's there there's no chart posted now that should not have happened but let's try it again use the old Italian mathematician here to see if I can get this stuff up here to show it and hopefully this is it ah there we go now you can see it but it lines up incredibly well so what we're watching here is to see if this is in fact going to be a spot where if possible we're going to see a correction of a major major magnitude in here and hold on just a second my beeper is going off and I'm not sure what oh something sold off in the stock market here I don't know what what caused that but it's going down a bit which is I guess if you're short that should make you happy anyway oh sorry sorry boys and girls I have to I have to do some I have to do some oh boy god I love this business so much hold on let's just get on here for a second here I tried to get short the gold market I missed it by two bucks and that's not neither here to there but anywhere the stocks are selling starting to sell off now that that I believe is and I posted this in the early part of the show this was a perfect last night at around three o'clock in the morning when I woke up to talk to the trading gods and they both both of them both the ladies told me that it was time to take a look at the 61% retracement here he did exactly folks 33,848 that was a high not one take higher and that was the number of course I did it off this number so I might have been off by one or two points but that's still pretty active and now we're starting to back off a little bit so whether that means anything I don't know if there was any news or not but if there was any news someone please alert me to the fact that maybe there was some news coming in now I want to spend some time here in the in the banking index folks because we be talking about this banking stuff you know for a you know quite a while now here is this is the daily chart I want to get this up here of the one that Jim Bartolioni who will have on a guest next week he's busy this week in fact there'll be no guest this week I'll be doing it by myself except for Friday we're gonna have Mike Moran our Mr. Crude oil himself anyway this was the 382 on the weekly you can see the big break but you can see the fact here that the market had this big reversal everything was up on Friday everything is down on Monday that's not a good sign boys and girls I'm gonna show you a few other these charts just to get you realize that that's not the way to do it here is the same chart now only in a four-hour format so you can see what's actually happening and the fact that this market is not and I will repeat is not rallying you see here this looks like it's a big island reversal of this island might might get sunk and if it does that's not good you know this is a this is something that you've got to be able to factor in we don't we never know what's going to happen next folks and you don't need to know what's gonna happen next because you can't know what's gonna happen next that's the main thing so let's take a look at some of these that are important now here is one of the better ones this is the Andrew Mellon Mellons of Pittsburgh this is the Mellon Bank and you'll see even it had you know pretty big correction and we stopped at the 78% level right here it's bouncing a little bit which is good that's one of the better banks correct so we want to look at a few of the others to make sure that when we see some of them that we're able to see what they're doing here's one of the this is an investment bank I'm sure most of you have heard of it it's called Goldman Sachs and as we see here it's also been hit by the banking index and course earnings have increased except for trading profits have not but this basically the pattern that you have here in Goldman Sachs is a perfect one three five there's one at the top there's three right here and there's five right there that's a one three five the symmetry here is perfect and the rally back on that rally was exactly 61% a few days ago and now it's starting to give it up so because people tell you some things are going to happen including me don't even listen to me look at the charts the one thing about these charts is they can't lie to you they can hide from you they can give you misinformation you know but they can't think they can't hide from you because if prices are going up there's more buyers if prices are going down there's more sellers that's the that's the whole bottom line of what we're doing as we're watching some of these things now here's one of the this bank is probably one of the worst run because it used to they had to they had to do a reverse split to keep it listed and this is Citi bank you can see a couple months ago back in February it made a 382 retracement and we've been making lower lows ever since this is not a this is not a bullish chart there's not any buying coming into these as of yet they might soon but so far that has not happened you know so here's another one here that I think is this is the one that scares me the most it's our biggest bank in the country hold on boys and girls the old bank of Italy let's get it up here there it is right there you can see big a b c d look at this there was your 382 off of the high perfect okay this was three weeks ago when the banking crisis was uh you know happening and look what's happened this is not this is not a good good chart for bank of america you know so to me uh you know they're telling us that things are okay and everything is fixed and hunky dory and I don't think there's hunky and I'm not even sure there's any dory so you got to be pay attention to the charts folks that's a the bottom line of what we try to do when we're looking at things now here's one of my favorite one because I jim gorman is a stand-up guy in my opinion is able to meet him many years ago and he's a really well loved by everybody at morgan stanley this one's held up well you can see at the top up here we made a big three drive to a bottom that was three drive to a top you can see the beautiful a b c d structure uh to the high and then we had the 382 retracement here and we had the break and now we're still bouncing this is you know that if this is a 382 we're looking at a potential a b c d to the downside way in here and that tells us that uh not so good so that's another one I think I have one more the best of the best which is uh uh j j p morgan and I believe this is it you'll see this one is this is the best run bank by jamie diamond that's why he gets 32 million dollars a year folks if you make 32 million dollars a year you're able to eat out several nights a week without any problem but look at the beautiful bottom we had here a b c d beautiful three drive there's drive one there's drive two there's drive three that was back in october when we were bottoming in the s and p and the dow Jones we saw that bottom coming and we're able to get a couple bucks out of that but look how well this stock is acted compared to the others and guess what we have to pay a few bills eight seven seven nine two seven six four eight 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 forex report teddy keg stat breaks down the forex markets every monday using his 30 plus years of experience as a trading veteran of futures forex stocks and options teddy releases his weekly tiger forex 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 market and the 30 year t bonds as they both influence forex markets tremendously when you sign up for the tiger forex report you also gain instant access to teddy 60 minute webinar archive he just hosted forex strategies and fundamentals what is behind the tiger forex report for all the details to start your 30 day tiger forex report subscription today visit the front page of tfnn.com tfnn educating investors tfnn has just launched their new trading room the tiger's den hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours and now they are expanding their reach with the tiger's den available to all tigers and tygruses for just one dollar 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 bryan 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 tygruses as they share trading ideas news analysis and discuss the market action all trading day even at night and on the weekends the tiger's den at discord is accessible on mobile or 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 bryan is here to help tom o bryan has been successfully trading markets for over 30 years a frequent contributor to tv ameritrade network and cnbc tom o bryan 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 bryan'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 we're back and i believe we have jeff from new jersey back on the line today jeff are you there i am here and i have shortened my questions dramatically so these sound simpler than last time okay and i have my notes you know from what you said and i'll read them back uh you know you can tell me if i got it right is that how's that that's that's correct i posted your chart in the room here so folks can see it okay all right so the first question this is about the three drive pattern and the first question was when is the ab leg too long compared to the one a lake and the answer uh that i heard was when the difference between a 1.618 extension of the ab leg and the actual extension is greater than 300 to 500 dollars using a full-size contract then you want to pass on the trade this is correct yes that's what i agree yes and then the second question was when is the time for the ab leg too different than the cd leg to take the trade and the answer i got there was to use a visual check visual cut check and if you're questioning whether it's symmetrical then it's not symmetrical enough and if you think it's a close call then check your risk and if you can afford the risk give the pattern a chance that's exactly right that's exactly right complexity beats yeah complexity simplicity beats complexity so keep it as simple as possible that's the way i would do it now i do since i've got you back on the line here i wanted to point out to the folks what i do when when someone calls in and of course you're being a student it's really easy to communicate with you but all i do is i do the same chart that that that you did and then all i'm going to do is to blow this up here and if you'll you'll pay attention to the you've already seen these jeff but this is for the folks and if not i've done a overlay here you'll notice the really a heavy black marks here these are mine in other words i just went from point one to point two to point three that's a three drive pattern right here perfectly symmetrical you actually you see it works and then it goes back and makes them a little bit slightly higher high to me that's okay because you there's there's there would have been i would have been at least to break even here but when i got to hear now i have another a b c d pattern right here so it's no longer a three drive but it's still you know very very important and of course boom down she came really really hard so that that's all i try to do now you're you're following forex which is this is the euro yen and so you've got to pay attention and when you're doing a uh is this a what is this a 15 minute chart jeff yeah that's correct yeah so you've got to be you know pay attention to that but that's that's what you're doing and and when you're doing a 15 minute chart $300 is certainly acceptable for any of these large foreign exchange contracts because these are these trades a lot you know the euro trades uh you know a trillion dollars a day so that i think you got i think you got it set up pretty right so your targets are right everything is perfect you know i think you did a great job on this great thanks hey um you want to hear something weird everything i hear is weird go ahead yeah everything i say is weird right no really i say is weird so go ahead oh well that's what we have in common so um i i have 10 different uh metrics or tests or call or criteria for the uh gartley pattern uh to comply with right so the ideal pattern will meet these 10 tests and i've been tracking these for a couple years now and in the past up until maybe a month ago when the patterns were perfect they would hit the furthest target you know they would go out and hit the 0.786 of the um ad range you know we're other times like the less perfect the pattern it wouldn't get quite as far maybe we get to the 0.618 or just miss it but lately uh it's been just the opposite the more perfect the pattern or the perfect patterns were failing and like i could send you some uh you know documentation but over the past month i'd say the the better the pattern meaning that the better that it complies with these 10 tests the more likely it was to fail which is bizarre well i haven't seen that so i'd like to see some examples of that if you don't mind you know to let me take a look at that because that would be uh something that i think i really need to to look at because i look at a lot of patterns when and i when i see really perfect ones fail i know that they happen that just means that there's a larger pattern out there that is uh that is in control of everything so i hope that well have you seen over the years where um like say the the Gartley pattern becomes more or less effective or kind of uh yes yes i've seen i've it has periods where it's just absolutely miraculous and then you has other periods when you know it's going to be less than 50 50 but that's just all the if you did all the Gartley's i believe you're going to be around 60 percent correct and your profit will be two and a half to three to one but you'll go through periods where they just don't uh they just don't work because that you've got the overall trend wrong you see what i mean and you you don't know what that is so you just have to do them all Gartley said on page 222 of the book and he spent a two full pages describing it he said that abcd pattern in the direction of the trend in other words by that retracement where you see an abcd in a bull market or sell the abcd in a bear market that'll get you on the right side most of the time but you know the the keyword there is most not all so well i've been um you know keeping track of the success rate for the Gartley pattern and i have over 800 events over the past two years or so and according based on all that data i have a 71 percent win rate that's there there you go so i do us around two-thirds is what we did of course we did thousands of them when we did the floor trader's handbook but we only we only did the euro on 30 minute charts over a 30 year period so but it's a good pattern this is everything this is uh fx and uh agriculture commodities and just like everything wherever i see the pattern you know i track it that's it and it's over a lot of different time frames too it's from three minutes up to yeah uh a day that's good well you're doing you're doing the right things to keep up the good work that's a pleasure working with you because you do the work and you're also sharing it with us jeff and sharing it is really important because there's a lot of folks out there that are looking for something that does work and when you can find something like that and people are verifying it it's uh it's a very important concept to uh you know to remember very very important so please keep the work coming in the golden wool you know i i want to hear these things so i you know if i was somebody else and somebody else knew this information i would want them to come on and that's right you know so i'm just that's right doing the same because if you know something important thank you larry don't share it it's worthless you bet my friend jeff thank you for calling in and uh have a wonderful day appreciate your call really very helpful to everyone you bet okay folks you bet eight seven seven nine two seven six six four eight we've got a break coming up we've covered the banking index when we come back if you have any questions be quite helpful but we're gonna go over a few things that i think you'll find interesting 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 xa u 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 am to 4 pm 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 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 opened 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 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 folks bear with me here because we posted a weekly chart on the euro and i wanted to excuse me the daily chart on the euro and i wanted to bring the new one up to date there we are uh this is uh you know you can see this is a uh interday chart uh here uh on the euro and uh basically what we're watching here is a market that has remember we were selling this up at 109 and change we're down at 101 10 and change now we're 101 so it's down about a thousand bucks but what i wanted to point out to you are two important things that someone asked me earlier is the fact is that we had this uh 382 retracement here usually a very bullish sign it was bullish and you can see the market went up and made a new high this is a recovery high of about 50 percent from the high then we made the three lower tops now this is what jeff was doing he was doing three three drive to a top pattern one three five pattern is just the opposite because you have lower tops okay you have higher bottoms that makes that a triangle and when it gets to this point right here this is where your moment of truth is the market breaks there's your 382 retracement coming in off the top and what that would mean is that you have a high probability and again a probability of governor a b c delay coming down into this level right here now remember the foreign exchange markets are open 24 hours a day uh about five and a half days a year or days a week so they they travel uh they cover a lot of time and a lot of money so that's the main thing the next one i wanted to mention is one that we did last night because i did bring this to your attention because we like to sell things that are really weak and uh this happened to be the dollar versus the canadian the dollar is getting creamed against the canadian dollar you can see when you're see a chart like this where it says us dollar canadian it means you're long the dollar short the canadian will long the dollar here is really getting creamed you notice this is where we were friday and i brought this to the attention of the folks here on sunday night and i want to show you the reasoning behind the trade because you like to find ones that you know give you a little bit of an edge and if we take a look at this this is the dollar versus the canadian i'm going to bring it up here this is the hourly chart and as you can see here as it's coming down here you'll watch there's your 382 you have the really strong really strong bounce goes up to the 78 percent it then it makes the one there's the 135 pattern again there's the 135 pattern again and once we break through that it goes through the 382 it goes through the 50 percent it goes through the 61 retracement and here's where we were sunday night and and i said look it stopped here for a minute but it stayed there for several hours and i said if it breaks below there this is going to be just shorted because it's going to go down a lot lower and it it's broken another almost a thousand bucks from that spot right here not going any above it all there was no no heat because you just kept falling this is where you catch one of these falling knives where you can make some serious spread but you got to make sure that you know when it hits these numbers because it could have rallied from here really strong that could have been a major bottom or maybe rally a little bit but once we start going below it again look what happened every time we went below the 382 the 50 percent the 61 why would the 78 percent be any different and it wasn't and that's why when it keeps going down that's why you want to keep looking at it for a potential you know to the short side so i hope that gives you some indication of you know why we're we're looking at some of these things here today and going through them one at a time i did post that chart earlier on the euro but one other one that we have going on right now and i'm going to bring this up because this is going to be a live trade folks let's get this up here so the all the sports can sports fans can see it let's get the hold it right here for 45 we're gonna do the first one right here here is the chart on the hogs we just made a nice bundle on the hogs about 1400 bucks last week we bought the first three drive to a bottom that was right there we got out of it right here and now we've got another one forming you can see here the a b cd pattern comes in right here at 81 92 i had just checked a little while ago the alert has not gone off yet so it's still in that ballpark and i'm looking to buy it right there but because of the strength of this down move right here you see that big down move which was friday now the good part is it went a little bit lower but it didn't collapse see sometimes when you have these big down they just keep collapsing and just like this one did keeps collapsing so we want to watch that because there's a possibility that could go a lot lower so in a situation like that going back to like what jeff was talking about you know finding out how much you have to risk i go and i do a very simple uh calculations i go the expansion numbers god i love this stuff i could do this all day long in fact that's what i do do along anyway there is your first expansion number you see comes right down here to your 1.618 there's your second one your 1.618 is way down here so there's a possibility that we could get there but we're also going to be watching this really close because we have this a b c d coming in here the only caveat is this right here the fact that it was so weak right there something might have changed but if we can get it to stay here for a day or two you know just like in that uh canadian dollar trade if we can stay there for a day or two well you know your risk is going to be really small here you're going to be risking less than 400 dollars on this about 90 cents in hogs because they trade quite a bit and that'll give you a pretty good idea that you'd want to be able to line that up pretty good so we will be watching that one in the hogs i'll be doing a special video on that tonight quantifying all the numbers the time and what we should be looking for for the folks that subscribe to the 24 seven so that's what we're that's what we're paying attention to as we look at some of these things that market had a break and it snapped back right away the s and p went back up in fact just about everything is up on the day now uh s and p still still the dow the dow is down just a hair it looks like the rest of them are are up a little bit but not very much to to uh to make too much uh well we actually got the dow jones is down and also the russell is down but the s and p is up for four and a half points and we're up to 27 points here in the what you call it the what you call it the the interesting one folks was the gold we had a beautiful 382 pattern setting up at the gold at 2038 and it got to 2037 and that didn't get filled but it was a perfect 382 is now $10 under that but that'll be trade another day we've we missed that one can't get them all that's for absolute sure i think i covered all of those banks that i wanted to make sure that i could cover because it's uh it's oh i had one other one this one here this is the the one that mr uh jayme diamond was kind enough to take over i hope they don't lose too much money on this this is a federal federal bank of los angeles but anyway i think they bought it for a dollar 87 or something like that or they took it over and i don't even know if it's i'm well it's not even trading anymore i guess but the last trade that i saw there was a three dollars and a half and i had saw the low on that day was about uh shocks i forget what the heck it was it must have been about a dollar 11 or something like that so that's another one that we're paying close attention to we've got a break coming up here we'll be right back eight seven seven nine two seven six six four eight 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 everything in the universe is governed by the fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com when you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks you need to pay attention to and you can trust larry's analysis after all he's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from larry on market movement you need to act on at any time first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors are china a shares hot or not if you trade china a shares now may be time to take a closer look trade chau or chad directions daily csi 300 china a share bull and bear etf's china a shares in either direction visit direction investments.com today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 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 funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor for 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 by way of programming uh mike more more analytics will be on the show friday and also next monday or tuesday i'm not it'll be one of those two days uh bill meridian will be on the show from cycles research out of austria however he's back in the big apple and so we'll have him on as a show he's just done a special program for the foundation for the study of cycles called the coming panic cycle i think you'll uh you'll think you'll enjoy it and we always enjoy what he has for his charts because he does such a great great job now let's talk a little bit here about the crude oil complex heating oil gasoline and also crude oil you'll notice here this is the long-term weekly in uh heating oil and we hit the exact number here on thursday if you remember we had mike more saying we were probably getting ready to break down and boy we certainly did and we had crude oil one day it dropped from 68 to 64 in a heartbeat but then it bounced back but let's let's just take a look at what happened to heating oil after it made the bottom we always hammering about the 382 retracement on these things so as we take a look at this you'll see that we went right down hit the exact 382 right here folks that was the 382 and then we had the rally went right after that level then it started to back off a little bit so this is still acting extremely bullish today and we've already showed you in the other part of the show that the crude oil already went up and made a double 382 retracement and got us up to that 38 uh change oh here it is right here let's just let's just show you what it did do because it's still acting extremely bullish and then we'll switch our gauge over to the dow Jones and show you what's happening there you can see there was your first 382 retracement here in crude there was your second one there was your one last night and we hit it today again right there so it was really three in a row telling you we are going to go higher there was your profit objective up here we broke about a buck and a half and now we're back up near the highs again telling us that we're most probably getting to getting ready to go a lot higher in the in the crude oil now heating oil is looking exactly the same as the crude oil also the gasoline i'm going to bring it up has been the strongest because the bottoms here have held up at a higher level and i'll tell you with gasoline at 550 a gallon here in Tucson it's a big surprise especially with people that go to the market and check out with 800 for food and then they got to pay 60 70 dollars to fill up their gas that's quite a bit anyway that's what we're seeing in this area right here i tell a pretty good rally here now i did exactly the same thing remember that 382 that we talked about we did the same thing here with the with the gasoline and i hope this is it right here there is the gasoline i want to show you this is the same situation where you go up and get this up here so you'll be able to see it easy enough so when a big market is made a high or a low first thing you want to do is watch for the 382 retracement that's from this low to this high the 382 retracement comes in here that leads up to the big a b c d up in here and now we're ready for a correction but it might just keep going folks we really don't know because this thing has come off of a major bottom and has fooled off very very a lot of people as we unfold looking at some of these other charts i want to show you on a personal note what i have to deal with here every day here in Tucson, Arizona this is uh not the tree in front of my house but the one that's there everywhere and these things are this is called the pala verde tree which means a green green stick is what i mean pala verde means green stick but this is the blooming that we have all during um april may and june and um well actually the third week in may it's all gone but these these flowers are the ones that are difficult but the one that you're looking at right here the one right behind the house here is about twice as big and much thicker but they're absolutely gorgeous the problem is if you have an allergy it does get to you a little bit but today's a much better day for some reason even though it's pretty it's not as hot as it usually was here we had 92 the other day it's about 84 today so it's a much easier one but this is the one that that gives me the the biggest problem as we're looking at some of these things here today now i had one other chart that i thought was very very important that i wanted to share ah this is the one this is the this is the long-term weekly euro folks i showed you the other part of the euro but this is the one that you got to pay close attention to because um we have held up relatively well here we backed off about a thousand bucks from the 61 percent retracement here right now but boy if we ever get above this level right here now after a two-day pullback oh dear you you could uh this could go a long way so if this gets above here you'll be seeing it in all the markets gold silver all the others will be doing the same type of a thing showing you which of these things are are going okay i have another request someone asked something about another commodity and if you'll bear with me here i'll get it up since we were talking about the hogs we also want to talk about the cows and uh dear dear here it is right here and you'll see here we've had a pretty big break now in hogs we had that big a b c d three drive pattern uh actually that's a five wave expanding wave there's wave one wave two wave three wave four wave five that's expanding triangle it also is a three drive to a top pattern and then we had the 382 retracement here on thursday and that led to the weakness that we're seeing today that it's still moving uh down in that direction so i hope those and those things are helpful to you uh as we as we look at them you know sometimes uh i can't do all of them but i try to do as many as i can even if it's just for educational purposes i think when you take the time and send questions in like what jeff did i mean he he's done an incredible job building his own uh his own program now he has confidence in he knows that he's going to be right about seven out of ten times show me a baseball player to hit seven ten it'd be making 75 trillion dollars a year for heaven's sakes they hit 350 they get 40 50 million dollars so at 70 even at 51 he's going to do great because his payoff is going to be two and a half or three to one teach loss that's that's what the Gartley's all about it puts odds you know puts the odds in your favor and that's uh that's a big deal you want to be able to do that and we had one other question and that's somewhat well we haven't done this one in a long time but that's about coffee and let's get it up here see what joe's doing because it looks like we're started up on friday and we sent this out on sunday i don't know what it's doing today but like most commodities it's probably up a bit but we made a perfect 61 percent retracement here on coffee right on friday so it's acting pretty good so that's all you got to remember that that's what you're looking at so pay close attention to it should be right on the money that's what i'm seeing whether that means anything or not i don't know but i'm just looking you had a beautiful 61 percent retracement here that one worked really good remember this one here i thought was going to be the uh the trade of the year and uh went a little bit lower and then look at it at least we didn't lose anything on it hey eight seven seven nine two seven six six four eight 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markets the Tom O'Brien show next on tfnn okay folks I started the show with this chart which is the Dow Jones we made the 61 percent retracement had a break of about 300 points we've rallied back about half that way already today but if we close above that 34,348 folks that's extremely bullish and if you'll notice there on the bottom of the chart there at the green level where it says 33,532 that's the 382 retracement so we almost made that on that little break whatever the news was but it snapped back really quickly so the market's coming back strongly it might end up strong we don't know yet but anyway if it gets above that 34,848 33,848 that would be a very very bullish sign so keep that in mind we'll be covering that more on the shows tomorrow plus we'll be following the currencies a little closer we got the big break here in this Canadian dollar the euro's working good so we want to keep these things in our in our quiver for our you know to make sure that our our arrows are pointed in the right direction because we want to be able to if you take a trade you got to be able to follow through with it because you know if you don't and don't handle your losses you're in big trouble and that's where the problem is having a loss is no problem the first loss teaches the second loss kills and that's why you want to take a listen from what Jeff showed you today folks I mean he's built a just a nice little garly patterns that work well for him he's using a 15 minute chart they work on any time frame as we know you build the rules the way you want once you have confidence in those rules it's game on and that's what you want to have happen so let's remind ourselves that it's very very important to do that trading is a journey it's not a destination you're going to make mistakes all along the way and when you think you stop making mistakes you're going to make a bundle of them right in a way that you'll be paid attention to by the trading gods and she doesn't like to be fooled so see you tomorrow folks live every day in an attitude of gratitude and may god bless