 The following is a presentation of TFNN. Trade what you see with Larry Pezzavento, toll free at 1-877-927-6648 or internationally at 727-445-1044. Now, Larry Pezzavento. Okay, looking good, Billy Ray, feeling good, Lewis. We're going to take a look at the German Dax like we usually do. I posted the two different charts showing the three drives to a bottom one. The second one is very informative post, folks. We had a 150-point move up, a 150-point move down, and it's going back up again, holding its own in here. This is really good price action for a bottom. We've seen this pattern before, and it certainly looks like there's a bottom forming in the German Dax. We've seen it on the longer-term timeframe too, so we need to keep a very close eye on that, especially with all the news coming out of Washington, which this morning early is not very good. Now, if we take a look at the footsie, you'll notice on the footsie you're looking at a four-hour chart that covers the last several months, and you'll notice we went down, we completed the ABCD pattern here. We rallied about 60 points off that bottom, so that is holding also. My assumption is, and this is my assumption, and that's my opinion, and we know what opinions are. We're probably going to rally after this China thing is all over. That's my guess. I mean, even if they don't do anything, they'll probably rally. That's the way the market's acting, and I can't say anything more than that. Let's take a look at something quickly. I want to cover the stock indices first, but there's an interesting thing. We've got the World Federation of Wrestling, i.e., the IPO for Uber is coming out today. It's getting just as much press as the IWW, the International Federation of Wrestling, and that means there's a lot of people interested in it, but let's take a look at where we are here with the lift. This is my assumption. Follow me, see if it makes any sense. We opened on this thing back in late March. It came in at 88. It's now got down to 52 and change. That was the perfect ABCD pattern, 52 and change. We then rallied up to 56 yesterday. We're trading around 54 right now. Folks, this is another type of these ride-sharing deals, and Uber's going to come out. If you're going to do an IPO on this, I would buy the lift, and I'll tell you why. First of all, you've got a completed pattern so you can control your risk. If you buy Uber on the opening, may the force be with you, because that thing could do anything. My assumption here is that they're underpriced. They underpriced Uber. That means they're going to bump it up on the opening to get these people to put a few shackles in their pocket. But that's the way I'm looking at it. It might be totally wrong, but the fact is that with the lift, you know where you are. You only have to risk $2 a share. 54 would just blow 52, so if you're wrong, you're out $2. With Uber, oh my God, anything could happen. Look what happened to lift. It went from 88 to 66 on the first day, so you don't want to get caught. This way, you can control your risk. Anyway, Monday, we will look at it to see how it turned out, to see if I have more egg on my face, and I usually do, but let's pay a little bit of attention to that. Now, yesterday, in the stock indices futures, if you remember, we were talking about the stock indices futures. We were looking at this level down here that was very important at the 2835 level. You'll notice that we completed that ABCD pattern quite nicely. And then what's happened so far last night and early this morning, you'll notice if we take a look at this same thing in the E-mini S&P, we're looking at a market that could bottom around 2947. That's a completed Gartley at the 78% level. That's what it looks like. If you remember this level, folks, 2830, 2835, if you remember, we posted the information from our good friend, Rich Anderson, and that was the history of the gaps in the S&P. And you'll notice there you are. You see the very first blue line, 2836. And the bottom last night was 2835. So it filled that gap. It then rallied 25 handles from there and it's been chopping around, but it did fill that first gap. These gaps will be filled. But the $64 question is, will they be filled in my lifetime? That's what I don't know. It's interesting to see the news that's coming out because it is relatively negative. And they say there could be a deal. There could be a deal. Yeah, that's, if you believe that, oh, I still have two shares of the Brooklyn Bridge, but that's just my opinion. That's neither here nor there. Just remember that. That's all it's about. We have Bill Meridian as our guest at the half hour. And he asked to come on, folks. And that means he's got some really good information because when Bill has something, you want to pay attention to him. So he just got back from Saudi Arabia and he's got some, what he thinks is important information for us. So that'll be at the half hour. We all always enjoy seeing him. We want to talk just a little bit more about the Bitcoin because it's still starting to rally. We're above the 60,000 level and we could easily continue to go higher. We're waiting for a correction in the Bitcoin to see what that next level is going to be. We do not trade this instrument. We don't plan on trading it, but we do follow it because it's in the news and the cryptocurrencies and blockchain technology appear to be something that's going to be very important in the future. That's not coming from me. I was the one that was not sure about color television sets until 1983. I wasn't sure about microwave ovens until last year. So I'm a little behind the curve when it comes to these long-term trends. So keep an eye on what the prices are doing. That'll give you an idea of what some of the stuff is going on. Okay, now let's take a quick look here at one other thing that we want to look at that I think is very important today. And that is the, when you got to know when you're wrong on these things, folks, I want to show you this chart on the live cattle. You'll see here, the live cattle, we thought there was going to be a bottom at the 61% retracement. We went through that like melted butter. We went through the 78% retracement like melted butter. That's why when you're trading these things, folks, you've got to determine how much you're going to risk. And in cattle, you don't have to risk more than any penny and a half, which is between four and $600. But if you'd have bought it at the 61% retracement at 111, now it's trading at 107, you're sitting there with a $2,400 loss. And not only that, but it destroys your trading soul. And that's what the key is. You just take the small loss, move on. That's flat out the bottom line, what you're looking for. So that's what I, to be, oh, someone's asking a question about getting the money out of China. You know, we go to Hong Kong several times a year. And that is, it's a big deal over there, folks, is how they get money out of China. The easiest way they do it is to just bring cash over the border and that can be done. The biggest real estate deal for a single family home was done last year in Hong Kong up on Victoria Peak, which is the nicest place in all of Hong Kong. It's at the top of the mountain. You can see Macau, China, about 300 of the islands. I mean, it's just so spectacular. It's usually above the clouds. And that home was a 5,500 square feet, four bedroom, five bath, three car garage, swimming pool, and tennis court went for a cool $450 million US for a 5,500 square foot house. And it was paid for in cash, brought in on pallets. They actually had pictures of those things. I probably should go in and Google them, but it took about four big pallets to bring the cash in, so for cash, US money, 877-927-6648. We'll be right back. The TAS Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. 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To me, I interpret that as there were not any sell orders below that level, and so I'm assuming the 382 level is going to hold as long as we stay above that 99 level. I think this has got a possibility to rally. We've been in a very tight trading range here, but it still looks like it has the possibility to go a little bit higher. The key that I'm watching on the foreign currencies is the US dollar and the Euro, because there are mirror images of each other. The Euro is trading at 112.40 right now. In order to get the trend sharply higher in the Euro, it needs to get above 112.90 to 113. And above 113, it is flat bullish on the Euro and bearish on the US dollar. I had a little test this week on the importance of what was happening with the US dollar. Fortunately, I had several people that did their homework, and I'll share with you what we were watching here. If you look at this US dollar index on a long-term weekly chart, you'll notice here that last week we went up and we made a perfect 61% retracement there at that 98.10 level, and the market immediately turned down. We're now one handle below that already. We're trading at 97.10 right now. That means to me that this is most probably a very important inflection point. Now, if you'll bear with me for just a moment, let's go into our memory bank and take a look at this chart that we're looking at, the US dollar index. If you look at the far left over there in 2015, look at that as the left shoulder and look at the head that occurred in December of 2016 and where we are now could be the right shoulder and it is much lower than the left shoulder right at a 61% retracement level. Folks, if that's correct, this thing could really have a bad day in here and start down quite a bit. On the second hand, if we get above 98.10 now, again, after this pretty good correction we've had, that will tell us that we're going to be going higher in the US dollar and lower in the euro. I am still bearish the euro, but we might get one heck of a rally out of here if these levels continue to hold. Right now, all it's doing is just bouncing around between 1.11.10 and 1.13 in the euro and that's really what we're watching. We've had several questions about the grains. Folks, the grains are still in the sewer. In fact, is there really in the sewer? Even December corn, which has tried to hold up, is still at a major ABCD pattern with no takers. So everybody in the grain trade is scared to death about what's going to happen. Farmland prices have actually dropped a lot during this thing. So I know El Presidente is not going to be happy with the farmers how they're going to respond to him on election day, but this is the real world. So pay attention because when these things do turn, they are going to turn with a vengeance. And so far, the vengeance is theirs, not ours. So we've got to pay attention to it. We tried one time about two weeks ago nibbling at the beans with about a $200 loss and that was the smartest thing to do. The smarter thing to do was to go short at that time, but then the risk on that was a little bit more than I wanted to take. That brings us to another question that someone brought to us last night. And that is, do I reverse when these patterns fail? And the answer is no. And the reason for that is I'm not a very good reversal type trader. It's just ingrained in my psychic. I move on and go to the next patterns. I'll do if that pattern returns bearish. And I'll look at it to go short, but I don't reverse. The other question, we'll finish up here with this gold and then we'll go on to a couple other things. I was extremely bullish gold at the 1255 to 1260 level. We have not got to that level yet. I still believe that we have a chance to get down there. And the reason for that is Silver has an outstanding target of $14.40 per ounce. We're trading at $14.78 and $14.80 in change or something like that this morning. But if we can get that Silver down there and gold to come down to that level, then that's going to put all the numbers together. Right now I see little bits and pieces, but they're not tradable for any significant amount. I mean, they can trade $0.05 or $0.10 in Silver, but that's not what I'm interested in. I'm interested in something much larger if we can catch that. We've done some big gold trades recently. They all turned out extremely well, but this one has just not done it. I mean, we've not got a valid signal. We've got some signals, but they haven't turned out to make anything. The best they could do is break even. So, you know, you just got to wait. Remember, being a trader is like being a doctor. You have to have patience. Okay, let's move on to one other one that some folks have asked about. I've already covered the lift. Yes, I did. Okay, I covered that. I covered that. I covered that. Oh, it was about the crude oil. Let's just get this up here. I want to say it because I think crude oil has had a chance here. We got back up to that $62.85. That makes that a $1.35 pattern. We're now trading below $62.00. I believe any move below $60.90, and the crude oil is going to send this thing into a spiral to the downside. And on the second part of this, if it gets above $63.00 a barrel, I would think that this would be a pretty good bottom in crude oil. We could go a lot higher. But the thing is, we made that bottom two days ago, folks, and it's gone nowhere. That's not a very good sign if you're bullish. So there's a lot of resistance up here at that $62.50 level in July crude oil. So that's another one that is on the watch list that should be closely watched. Now, today's Friday, folks, there's no reason in the world to try to buy grains today. I mean, if you want to, that's certainly up to you, but your risk is going to have to be quantified that they can open a whole lot lower on Monday morning if something happens that these Chinese talks get worse than they already are. So I don't need to take that risk. I don't think you do either, but if you're that type of person, then do it. If you want to take a risk, look at that lift. The lift is trading at $54. They're going to bring out supposedly Uber at $45. That means it's going to open a lot higher than that. But if Uber doesn't open higher than $45, that's going to be a failed IPO. And this is their banner, folks. This is the flagship of the IPOs. They've been waiting on this for weeks and months. So I don't think these boys on Wall Street are going to let this thing go down. But what do I know? We'll have to be able to see. Okay, Maria is going along the ESP here. So if there's any problems, give her a call. Her number is 213-555-1178. So remember, 212-555-1178. I think she has a recorded message on there, but I'm not sure. Folks, that is a bogus phone number. I hope you realize that. 555 is the movie numbers that you always get when they give movie numbers in the thing. There's been a few times where they actually have given the actual phone numbers out, which has always been a lot of a problem, but we'll have to worry about that. Now, there's a commodity of, oh, I don't have time to do it. I wanted to, oh, I'm sorry, I'll give them your Western Union code number, too. It's princess.com, isn't it, Maria? Okay, Sarah says hi to you, Maria. 877-927-6648. Larry Pezzavento has just started his brand new service, Fibonacci 24-7, and he's already delivering content to his subscribers on a daily basis when the markets opened, and even on weekends. 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Tell the folks what you did there, Bill. Because you were an analyst. I know that, and you did training also, but you did a fabulous job. But can you have time to... I was a portfolio manager and strategist. Okay. So I worked in the North American Bond and Equity Department, and I did the market forecasting for them for 10 years, and I ran the technology portfolio, and I worked in the N.D., late 91 through 2000. At the end of that time, I switched to external management. I was there for the last three or four years. Is that operation still going? And today, everybody who was 25 years old is now 45, 50 retiring, or is some sort of a governor of the central bank, ministry of the economy. So I go down from time to time to say hello, get a holiday and a suntan, and find out what's going on from their perspective. Wow. Do you have any information from that perspective right now? What's going on? You got a lot of Ramco's coming out with that big thing, and plus that Khashoggi thing just blew over, didn't it? Nobody even talks about it anymore. Well, that... Things like that they don't talk about. We talk mostly about business and politics, but the economy there has been very slow for two years. I was there 15 months ago, and they had just laid off about over 200,000 people in the UAE alone. But property prices are now down 40% from the 2014 high. You can buy in Abu Dhabi right now a two-bedroom apartment for 700,000 dirhams, which is about $200,000. For one million dirhams, you can get a three-bedroom townhouse that's got an attached garage, and that's about... Oh, let me see, that's about $300,000. Wow. So your economy is very slow. The authorities reduced their headcount from 1900 to 1400. When I was there, it was 1200. And the institutions in the Middle East are themselves selling out of Middle Eastern markets. They're saying they haven't made any money. The markets have gone sideways, so they're selling their own markets. Maybe that's a contrary opinion by signal, but I don't really know if it is. And the major concerns are Iran and Saudi Arabia. And Saudi Arabia, the relaxing rules, they have cinemas, women are allowed to drive, travel restrictions have been dropped, and this has hurt Dubai because people could easily get to Dubai and Bahrain, but now they can go other places. The new ruler, Salman, is very popular with the young people, but not with the old traditional people because he's relaxing everything too much. He told me there's even some talk of permitting the consumption of alcohol for expats in Saudi Arabia, as they do in Abu Dhabi. But I think that's a way down the road. The UAE is... Well, when I was there, I won the young guys. I said, when oil prices go and rally up to $70 to $100, they all told me, no, no, it'll never get above $35 in oil. I said, you can't pump enough oil to satisfy India and China. So anyway, I said, when that happens, I hope you don't go wild with big spending projects, which is what they did. So when they say, well, prices are too low, what they're saying is that we plan projects that are too big. And so now they're cutting back. Even though the hotel vacancy rate is 50%, they're still building, but some Pfizer gents have shuttered projects. So you see Ival Construction Projects. And they're really starting now to reassess their spending. And they've been supporting countries for many years, and they're getting tired of doing it, because it's like if you put somebody on welfare, they don't have much incentive to get off of it. And so they warned me that it's not in the headlines yet, but they said, they didn't end Morocco. They said they feel from their standpoint that these countries are very unstable. And of course, the ones that are already in the news, Algeria, they're having riots there, but they're very strong. They're not going to be troubled there, because if you come across the border, you're unauthorized and you're walking across the border, they order you to stop once before they shoot. So that's why they don't have any problems. And I haven't been there, I was there three years ago, but the group that I, the people that I go see, they visit there regularly. And they're a little concerned about their projects there. And next year, of course, the southern Pluto conjunction in January will be very close to the Saudi sun. And as soon as it finishes the Saudi sun, it'll transit over Jupiter and the Ascendant. So this is the same situation I mentioned of Pluto going over Jupiter and the telescope of China. So I think they're headed for, I think there may be an attempt to remove this young ruler from power next year, in January, anywhere between November and January. And after that, I think they have a financial crisis similar to that of China. And that's another cause of this 2020 to 2022 pullback that I'm seeing. And there were people there from Sudan. It was in Del Haroscope and it was up on YouTube that this eclipse coming up at 10 degrees cancer was right opposite the sun of the ruler of the country and it was on the day that the guy took power. So I had written in a 2019 forecast that I thought he would fall from power and of course he did. So the people from Sudan, they just said, we took care of that and they wouldn't talk about it any further. But my host there, there was a book fair. So there were many scholars from India, Iran, Saudi Arabia and then it was Ramadan. And so Ramadan, of course, he has to sit in the Majlis and receive visitors every night and so you don't know who you're going to meet. There were American engineers in there building projects in the Maldives and looking for investment and so on. Bill, do you have to follow religious protocol like when you meet someone over there that you have to be on a prayer mat or do you have to wear anything different or how do you greet them? Do they shake hands? I shake hands with all my Muslim friends. That's what I thought, so I wasn't sure. No, there's no I got there in 1990, I didn't knew very little of anything and they're trained throughout that region to be very superb hosts. So they're very understanding if you make a mistake, forgive you. And we used to, in 1990, everybody would sit on the floor and they'd invite me for dinner and say, do you want us to get you a chair and a fork and a knife? I said, no, I'll eat with you guys and if they scooped the food up at their hands and I would try to teach me to do it, I kept dropping it which amused everybody. Bill, you're Italian. That comes natural. Yeah, that's right. So what are they doing now with their investments, Bill? Are they focusing on Aramco? I haven't heard anybody talk about Aramco, but they're We've got to pay a few bills. Could you stay with us for another segment? Yeah. Thanks, Bill, Meridian, Cycles Research, Fianna Austria folks, right back, 877-927-6648. If you're in the CD market and looking for a secure investment, the Tiger First mortgage program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. This act of 2018 set up tax-free zones across the country where you can build and hold for 10 years and pay no tax on the profits, which makes these lots valuable. The investment is anywhere from 30,000 to 75,000. The interest paid is 7% yearly paid on a monthly basis. According to bankrate.com, the best rate for a four-year CD in the country as of February 20th is 3.1%. A $50,000 investment at a normal four-year CD rate of 3.1% would give you income of $1,550 per year, or $6,200 over the four-year period. 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Yeah, from what I've heard, some of them he did, but I think, you know, there are elements outside the country that they have to be careful of them because it's a very, most of those countries are very traditional. Abu Dhabi is not. Abu Dhabi is already already relaxed. It's always Oman. Is Kuwait still a factor over there? I mean, they still have several friends over in Kuwait that still like it, but I don't know how political is or anything. So I don't really know that much about it. Do you ever get over there? Yeah, well, no, I haven't been there in, I think, six years. And as far as I'm concerned, about Iran and making money. And I was at the economy is very slow. You go outside the Abu Dhabi mall, you usually have to wait for a taxi. And there was no waiting line. And I went, most of the restaurants were fairly empty. And so they are really hurting there. And apparently, Amazon is already popular. So it's really hurting the retail. And the financial institutions, well, I could write a book about this, but I'm not going to bother. I went there in 1990. They wanted somebody who had fundamental and technical experience. They wanted to take to account market movements more. So I did that. I successfully ran the technology sector of the portfolio. And I mean, to give you an example, they called me up to the managing director's office, the guy at the top. And he had hired these two guys, one who's an Arab who didn't know anything. And the other guy who'd been fired from all his jobs due to the poor performance of his portfolios is now a friend of mine. He's an Englishman. And why is the department not doing well? And I said, well, 58% of the market cap of this $6, $7 billion portfolio is invested in stocks with declining relative strength versus the benchmark, which we're supposed to beat. To this day, I don't think they still understood. I don't think they understood what I said. I said, if outperforming the market is one outperforming S&P is one of the primary, that's our objective, then before you buy a stock, it should have positive relative strength. If it has negative relative strength, that means the rest of the world disagrees with your positive view of the fundamentals. And you should at least, excuse me, ask yourself why. And when they asked me why I was doing well compared to everybody else, I said, well, I have 35 stocks down from 52. And 30 have positive relative strength, not only versus the S&P, but versus the S&P technology index, which is what I measured against. And this just sort of flew over everybody's head. And I said, well, what about the fundamentals? I said, you're not being paid for book value for cubic centimeter or being paid on relative strength, and they still don't get it. So eventually, they were giving up as the director of the central bank said, my old friend Mubarak, he said, well, look all the trouble we had here. I said, well, Mubarak, you had trouble because you're not listening to the market. That's why you hired me. So I tell you what the market tells me. And everybody says, well, Bill's trying to tell everybody what to do. I said, no, I'm telling you what the market's telling me. And so anyway, this is still very pervasive. I went to NYU for a BS and for an MBA. Stern School is now one of the best known schools on the planet. And we got the relative strength, got like 15 to 30 minutes of treatment, 15 to 30 minutes. You guys, well, relative strength is this, but you don't know how long it's going to last. So I as well as anybody ever done any studies like that. Well, now they have to some degree. And I'm a young guy who's a PhD, Chinese from Hong Kong, met me at Rutgers. I got a call. He said, can I take you to lunch? I said, yeah, sure. And I went to New York and he said, I want to thank you. He said, you were really right. What you said about relative strength. I said, yeah, I got a job with Prudential Securities. And they've also made me an assistant professor at Stevens here where he graduated from. He said, you were right. He says, that's exactly what the big institution wants to know. And you suggested a lot of studies. I'm surprised. Why isn't all this stuff been implemented? I said, that's a good question. I said, I'll make a prediction. When you hit my age, 70, you're going to be asking yourself the same thing because it just never sinks in. So that was still there. They're largely 70 to 80 percent of the funds are indexed, but they do no market timing. So they get courted every top and you know, anyway. What are you seeing in the US stock market right now, Bill? I know we showed the folks your cycles that you're looking at. So yeah, well, I had a turning point, I think, projected for the third, but the market, I think, actually topped on the first. And so I got a little thrown by this and I was traveling and, you know, when you're not sitting in front of the screen, it has an effect. You lose your feel. So anyway, on Monday, the market came down and rallied, you know, it was down 50. Then it was only down 13. So I waited another day. And finally, by Wednesday, Thursday, my next projected turning point after the third is the 20th. And the only conclusion I can come to is that we're down into the 20th. And to give you an example, I just looked at the AII Investors poll, which just on the May 5th, it went from 33 and a half bulls to 39 and it dropped 46% bears to 39.6. That is a very big one-week drop. And if you got a turning point and you're headed up, that's telling you, telegraphing to you unless you're traveling, that the market's probably headed down. So I just took the numbers down from last night. We went from 39% bulls to 43.1 and from 39.6% bears to 33.7. After the week we've had, after those three days, the number of bulls has gone up. And you know, Larry, sentiment is if you're not bearish enough, the market's going to decline enough until you get very bearish. So to me, this is adding fuel to the fire here. And as for price levels, I think I sent you that chart. If you just look at normal retracement levels of the December to April rally and also the most recent rally March up through late April. And if you look at retracement levels, the first retracement level that I see this comment to both is a 28.05. And the one below that is about 27.20. But I think 28.05 is probably going to hold and we'll probably hit that level by May 20th, which is only 10 days away. And with this kind of volatility, it could be there this afternoon. You never know. How about the situation for our El Presidente, DJT, what's going on? Well, it's like I said, I see it's, there's the eclipse in January opposed the sun in the horoscope of the beginning of the investigation, which means it knocked it down. But the next eclipse is on the sun. And so we've got, as I said, they left enough nuggets spread in the Mueller report, which is actually, even though the Democrats are screaming that they should release the whole thing, it was the Democrats who passed the law saying that you cannot release the whole thing for security reasons. So what they did is they made it available. There's a room in the Senate or the Congress in Washington where you can go in the Democrats or Republicans can go in and read it. And thus far, two Republicans have gone in to read it and no, no Democrats. So it is available to them. So all the people who are screaming is a lot of nonsense. And they're trying to, now they're attacking Barr because if Barr follows the law, he can put a lot of these people in jail because Comey knew that the, the information he gave the FISA court was false. He gave it to them anyway. So he's liable and they're, they're now attacking Barr. Hey, listen, thanks for joining us, my friend. I really like talking to you, Bill. So have a safe May and hopefully we'll have you on towards the end of May. Thanks a lot, folks. I'm Steve Rhodes. I'm Steve Rhodes, author of Mastering Probability. And for the last 12 months, Timer Digest has been tracking the best of the best in everything you do in life. It's the most common trait that we tigers and tigers share. If you're looking to become the best of the best when it comes to managing your money, let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets. I'm Steve Rhodes, author of Mastering Probability. 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Okay folks I posted the weekly chart of the E-mini S&P showing you that rounding top one three one two three pattern and so far with the big down move we had we closed at 2950 we're now trading at 2860 that's down about 100 handles in one week and the importance of that low at 2830 cannot be underestimated that was the gap on the the daily chart the very first profit objective we hit that we've rallied a little bit it's very important that we stay above that today if it doesn't you know the stocks are going to be down big time today and that means on Monday it's not going to look very good regardless of what the news is but as we know last Sunday the news changed overnight and the market gapped down on Monday so there's always a possibility that something crazy would happen however all of these indices that we're looking at the transportation utilities Dow Jones Nasdaq every single one of them is in a topping or a divergence pattern that's not a good sign for long term that long term could only be two or three weeks what we're watching to see is what our first 38% retracement is in this move and that comes in at around 2500 I believe in the E-mini S&P so it's a long way to go just to get to the 382 excuse me that's 2650 in the S&P not 2550 but anyway that's one of the things that we're watching to see what that correction would be regarding the bonds I believe we've got a chance one more time to push the bonds up to maybe 14910 14915 and then we'll roll over from that level which is the 78% level keep an eye on that Japanese yen has a lot of support at that 10940 level we're trading about 20 hands or 20 points above that so if it can stay above 10940 it has a very bullish bias but if we go below 10940 in that dollar yen that would be a very very negative sign and it would tell us that we're most probably going to go a lot lower in that 78% level where it made a double top at 113 and change means that it's there for quite a while so live every day in an attitude of gratitude and may god bless