 Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. The following is a presentation of TFNN. Trade what you see with Larry Pezzavento all now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now Larry Pezzavento. Okay, looking good. Billy Ray feeling good, Lewis. I posted a chart of the NASDAQ for our chart going over the last six weeks. As you can see, it's a perfect AB equals CD. The numbers are right there in front of you. Also, if you'll take a look at the trade what you see newsletter, you'll notice that high in the NASDAQ was an exact 786 on the weekly chart. As a matter of fact, I had a rough view of that from one of our friends over in Saudi Arabia was kind enough to send it and I'm going to bring it up here so you can see it here today. And there's also a better version of this in the, let's try it again, Larry, in the newsletter trade what you see. Also a special announcement, John Jameson's new letter Uncharted, which is part of the trade what you see family is going to be made available tomorrow. If you would like to receive it, it's free. It's part of what we do together. And all you have to do is to send a request to Larry at tradingtutor.com. If you've already done that, don't send it to me again because you're going to be double posted and then you'll be deleted. But if you've already asked for it, you're going to get it. If you haven't asked for it, just say Larry at tradingtutor.com and I'll put you on the list and you'll get it tomorrow. This is not short-term trading folks. It is about how to value assets and looking at mispriced assets. That's what this thing is. It tells you a little bit about his background. That alone will keep you entertained folks just listening to his background over the past 30 years. It's really quite a lot of fun to listen to what he does. I speak to him every day, seven days a week, minimum of one hour, sometimes three hours. So he's an important part of my life. And I've learned a great deal from him these past 20 years that I've known him. The reason why I put this chart up of the NASDAQ is the fact that it's up at that 78% level with the perfect ABCD pattern. But look at some of the things. By the way, our guest today is Jeff Fuge. Tomorrow, it will be Bill Meridian. On Thursday, it's Shane Smolian. And on Friday, it will be Stan Harley. Those are our guests this week. Very, very nice to have those folks on. Okay, just let me show you some of the things to give you an idea of how oversold. Let's try it again, Larry. How overbought the market is. Let's get this up here just to show you what happens during the month of June when the market tops in the month of June. You're going to, they call it the June swoon. You see the odds are in the last 14 years, I believe all during these years, you can see we've been it down. Now, some of them were pretty dramatic and some of them took a long time. All it tells that there's a short-term top up in here. I said in the videos that I sent out Friday night and then also on Sunday night that if you could sell that S&P anywhere near unchanged to sell it and just use a 20-point stop and of course it went down and then bounced back a little bit. But that's not where our real focus was on this week, folks. We took profits in the corn and beans and I had a very unsleeping night until Sunday night when the grains opened higher and they were open to be open 20 to 40 cents higher in beans and 30 cents higher in corn. They didn't open anywhere near that. And I said in the video that's a first sign that it's probably going to correct and now they've all reversed and they're down on the day. We're going to be waiting for our first chance to buy into it. So that's another one that we really want to look at. Here's another one here that comes from one of our friends. It shows us that the relationship of just get this how the PE ratio works. You'll notice here where we were. Look at this, folks. We haven't been this high in 25 years to see the PE ratios at these levels. This is really quite amazing. But to me, the most important chart is the one that I've talked about three or four weeks now. Nobody gives it much attention, but this is the one that really means a lot to me. This is the stocks of the Dow Joe, excuse me, of the S&P 500. You'll notice the ones in the black line with the swings. Those are the seven stocks out of the 500. So there's seven out of the 500. You can see where the rest of the S&P is. Now, the S&P, of course, when we can considerably above the 61% retracement, the NASDAQ went to the 78% retracement on the long-term weekly chart. That was from the high in January of 22, folks. So this is what I'm seeing is an A, B, C, D, three drives to a top pattern in these. Now, this was one week old when I posted this. And this was in the time they were going straight up. So it went actually higher than these levels by a little bit, not very much. Also, those of you that follow Tesla, if you remember, we had a price target on Tesla of $266. It's one of the few stocks that's up today. And you'll never guess what the high is. Yes, Johnny, I see you back there. It is $266. Now, here's a little bit of trading psychology, folks. This comes from somebody that, his name is Alan Edward, and he happens to be called the divergent trader, but he's got a cute little ditty here about trading and what trading is all about, okay? Mark Douglas, he would love this one here. And if you notice and see what it says in the trading here, it's really quite cool. It says, trading is simple, take a loss, move on, next trade. Two, take a win, move on, next trade. Repeat steps one and two. Folks, that's what I do. Now, I know that all of you, I got two or three. We've had some really great trades here today. I'll just show you what they were because they were posted long ahead of time. The first one, of course, oh, come on, Larry, get up here. This was the one in the crude oil. This made well over $2,300 so far today. We had a perfect A-B-C-D up there. The high was a 1738 and this really started from the beginning and worked pretty good. The second one, of course, was the gold trade. You know, we've been bullish and bearish gold, but last night on Friday, of course, we were bullish. We got out of the position and then we saw a position that says we probably should get ready to go short. We did up there at that 1969 level. We have a buy-stop now at 1951. That locks in $1,800 on that one. Those are the ones that we're trying to do. I know when you're trading, you're going to have periods where you miss trades and you don't put orders in. I must have had a half a dozen people saying, you know, I did two trades in a row. Then I didn't do a couple. Then I made three losses in a row. Then I didn't do the next three that were winners. What do I do? What do I do, folks? You've got to be consistent. I mean, if you believe in these patterns and if you don't think consistency is important by the floor trader's handbook, for God's sake, it'll prove to you that the ABCD pattern works. I mean, we did, I think 30,000 trades on that darn thing to prove that it's right about 61% of the time and it'll pay you two to one. So that's what it's all about. Hey, we're going to take a break here. 877-927-6648. Currencies, commodities, and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger Forex Report. Teddy Kegstad 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's 60-minute webinar archive. He just hosted Forex Strategies and Fundamentals, What is Behind the Tiger Forex Report? For all the details and to start your 30-day Tiger Forex Report subscription today, visit the front page of TFNN.com. TFNN Educating Investors. Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master. Steve won the prestigious Timer of the Year Award in 2018 and barely missed that mark again in 2019, finishing it number two for the year, an amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his Mastering Probability Newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's Market Newsletter, Mastering Probability and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 Days Risk-Free Today. 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 markets 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. Toll free at 1-877-927-6648 internationally at 727-873-7618. Okay, we're back folks and I posted the chart here showing you the overbought condition in the stock market going back to 1945. That was the end of the big war folks, World War II and believe it or not, I was five years old and by golly, that's been up there only 12 times where we've been two standard deviations at this level where we came into this week. So that in itself tells you that you're probably extremely overbought and so that's what we're watching. What I try to do when I'm trading folks and I teach this as best I can to the people is you've got to be consistent. In other words, you've got to do the same thing over and over again, especially if you know that it works. Doing something that doesn't work and doing it over and over again is what we call crazy, not craziness, but it's insanity. I think that's what Albert Einstein said and doing the same thing over and over again and expecting a different result is a definition of insanity or a way to go insane and I think there's a really strong reasoning behind that. So all I try to do is I try to find patterns that line up that give me a pretty good idea of where the market's going to go. Never 100%, never will be, can't be. So that's the way that has to be so you just got to do them all. That's it. Case in point, let me just show you here what we've been waiting for all morning here. Now we're going to take a quick look. I got to do this live because this is why it's fun to see things unfold here but here is the 13-minute chart on the S&P. And you'll notice here we missed the exact 78% of the low that we made here last week before we had the bigger up. This was Thursday and Friday and you'll notice here is where we are right here. We came down within four points of the exact 78% level. Okay, and look where the 382 comes in here folks within two points of where we're trading right now at 44.42. So that's what you're paying attention to here. So that's just a 382. That's a strategy that we used in gold. It worked. Strategy we used in crude oil and it worked. Strategy that we used in the natural gas last week it really worked. The one we did in bonds, it really worked but they don't always work. Now if you're going to do something like that and I just see that they've just hit that number just now. So that's going to be really interesting to see what's going on here. So we're already through it by two and a half by one and a half points. So we're going to be watching it but that's a trade set up that you're in the down market and you've had a 382 retracement. So the sale is at 44.42. Risking about five points is all you have to risk. That's all we're doing as we do this. Now I know many of you are not familiar with the 382 retracement. Those of you that have attended any of the live trading sessions that we've done or read any of my books and stuff you'll talk about. Well, there's not too much in the books. There is in the very first book Astro Cycles of Traders Viewpoint there was but actually the only one that was not there was I had to be was the 135 pattern because of the long street boys asked me to not put that until after they had passed away and then I could start talking about it which I've done. But they're all they're all related to probabilities folks that that's all it is. There's nothing anything really any more exciting than anything else that this it really isn't. You don't know which ones are going to work and rich ones don't. But if you start staring at the machine all the time and wondering whether the prices are going to go up or down you're you're you're doomed because you know we keep score with money here and if you're following what the money is that's not where it is. You have to be following what you're what your system says and don't worry about that don't worry about the money you know because it's going to be there if you wanted to buy something say you wanted to buy an expensive wristwatch for yourself or your significant other if you want to buy that wristwatch put it behind the machine don't don't be looking at it don't put the put the wristwatch up there and say I've got to make this $1200 to buy this watch for my significant other. No no try to make the $1200 the normal way then buy it because if you start putting you know pictures of things to do on these things it's not going to be a very very pretty sight for you because it just doesn't work that way. I said here for six years and listen to Mark Douglas lecture that to everybody that ever came here and that's why I believe in it so strongly because I've seen it so many times you know it's just really amazing if it truly is. I wanted to show you one other chart that does kind enough to Rich Anderson was kind enough to send this one to us. This shows you the number of times that the Nasdaq has been you can see you can read the the sequence right there it says from how many times it's been 20% above the 150 day moving average in the last 14 years. Okay you can see that 14 times look what happened right afterwards anywhere from nine sessions to six sessions or five sessions or 13 sessions 20 CSEX those are day trading days. Look at look at the look at the retracement. The worst one of course was in 2021. I believe that was COVID related and that was down 37%. The median the median break was 11 to 12%. This is in an over. That's a this is significant move. So that's what we're watching. We're watching these things unfold. Now someone's asked a question about the weather market folks. I rely on what Rich Anderson sends me and all I do is I try to bring it to your attention the best I can because I don't follow the fundamentals at all but Rich watches the weather and since I was already out of the positions that we made a nice move folks sex thousand over $6,000 in beans and $3,000 in corn in five trading days and I took profits and then I said oh I should have waited because they did open higher on Sunday night but not that much. I posted the heat map up here and you can see here the lower right hand one is the one you want to be looking at. This one down here in the lower right corner because that's the those are the three eyes Iowa, Illinois and Indiana. They used to be a baseball league. They called the three I like three I League. It was a Class A baseball team from tarot Indiana the tarot Phillies Phillies company their Phillies farm club anyway those three states account for the bulk of corn and soybeans. Okay now the others are there too but this is the bulk and as you can see here it's it's warm. They've had some rain but very little the call last night was sharply higher 40 cents higher in beans 20 cents higher in corn and when they couldn't open there they didn't even get anywhere close to those opening calls that mean that selling came in and that meant that that was very important. That's a question of watching the news and how it reacts to the news. And that is really important in my book. If you've ever read reminiscences of a stock operator by Edwin LaFever. He harps on that book chapter after chapter is listen to what the market is trying to tell you. If a market cannot go up on good news it only has one way to go. Look at the figures on housing today folks blew it out of the park and what did the stock market do down 350 points in the Dow Jones. So that's what we're paying attention to here today. Now we're going to have a guest coming up Jeff huge of Alpha Insights will be our guest here at the break. And then as I mentioned tomorrow we will have Bill Meridian and on Thursday we have Shane Smollion and on Friday we're going to have Stan Harley. So stay with us please. 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 O'Brien publishes his weekly Gold Report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, the Dollar, Bonds, the South African Rand, as well as 25 different mining equities with specific buy sell recommendations. The Gold Report New subscribers get a 30 day money back guarantee so you have nothing to risk. 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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. Back folks and I believe we have as our guests today, Jeff Huge of Alpha Insights. Jeff, how are you doing today, my friend? I am doing well, Larry. Thanks for having me on the show today. Oh, I was looking forward to this. Believe me, I see at your very first chart is the bullish sentiment into the extreme level. Looks like it's going about 82 RPMs. What do you think is going to happen from here, my friend? Well, usually when we get up above 75, it indicates that everybody's all in the game, but it's not just the CNN fear and greed index. This is a really good graphic and that's the reason I used it just to kind of express what's going on. But there's others out there. The DSI, which is the Daily Sentiment Index, put up by tradefutures.com and that looks at retail futures traders. That's been up in the low to mid 80s for the last three, four days for S&P futures and in the 90s for NASDAQ futures. We've also got the investors. What is it? The II, I'm drawing a blank, Larry. It happened occasionally in my old age. Investors business daily. Is that the one? No, it's the II survey pull of advisors. It'll come to me. But anyways, it's gotten up to about 53% bulls at this point. And that's pretty close to where it tends to top in the mid 50s. Sometimes it'll get up to size 60, but gosh, you know, when we're in a recovery rally still to get to this level of bullishness is really unheard of without new eyes. So, you know, advisors are pretty much all in. And, you know, we've also seen things like the name index, the exposure index for professionals. Current 90% invested now. And even individual investors on the AII pull, which is notoriously bearish to begin with, you know, we've got the bull bear spread at about 22 and a half. That's positive now versus negative 42% back at the October lows. So, you know, we've seen basically a 60 percentage point swing to the bull side. You know, the point is everybody is all in at this point. Yeah, boy, it certainly appears to that. You watch the Bloomberg live. First thing I do in the morning is to check Bloomberg. And my goodness, Friday, I had not heard this much bullishness since the top of the dot com bubble. I mean, they were, they were actually giddy and, you know, laughing and, you know, and whenever you hear that, oh dear, I'd go before the fall. So I was looking for some major areas to look at. You've got some other charts here that I'd like to bring up to the folks because you do have some really good stuff. But there's one thing that I wanted to talk about. We'll talk about these, these AI stocks that I think that people should look at. But the one thing I want to discuss with you, Jeff, is, you know, you've been actually been pretty good on this market except for the last couple of weeks. But your record, Jeff, when I look at your record, I just literally, folks, he's very successful at what he does, but he's only right about 38, around 30% of the time. And when you look at those statistics, boy, that shows you an absolute perfection in money management and risk control. Jeff, I, my hat's off to you because I, when I see those figures like that, I, your quality of your trade execution is really, it's exemplary. I mean, it's just, I'll give you four A's if I could give you four A's. Unfortunately, we only go to three A's here. So you get just three A's. But you should really, Yeah, it's a truth. It's all about managing risk, right? You know, it's like the losers, as soon as you realize they're not going the way that you want, let them, let them go. And just hang on to those winners and let the winners run. And sometimes the winners will fake you out. You'll get a good 20% gain and you'll raise your stop to a stop loss level to a break even. And the stock will come back and you'll get taken out. And, you know, that happens, but let the winners run, sell the losers as soon as you realize they're not doing what they're supposed to be doing. Okay, now you got these four charts up here. Who's driving the bus? Well, it's not the bus driver. It's AI. It must be a lot of money. Yeah, it is AI, but you know what? This chart is interesting because it really shows a dispersion between the price of the stocks. We've got Apple, Microsoft, Google and Nvidia. Three of them are hitting new all-time record highs. Google's the laggard, but it just made a new 52-week high recently. But what we're seeing in the orange line or the gold line is the net black order flow. And we're seeing that institutions are not driving this, okay? What is happening is it's retail performance-shaking. And, you know, sometimes money flow data just helps you put everything in context. And what it is really saying here is, you know, fundamentally driven institutional buyers are not pushing these stocks higher. It's retail performance-shaking that's driving it. And some hedge fund involvement that's just kind of, you know, trying to trend-follow, right? But a lot of it is just passive money and passive money flow going into the indexes that's pushing these things higher. And that is not, you know, a recipe for success longer term because eventually, you know, the whales will recognize that this can't go on forever. And then when you start to see that black order flow turn deeply negative and we're on the cusp of that already, we could start to see institutional selling and that will take this market down. They're just poised for liquidation is what it tells me at this juncture. Okay, now let's move on and we'll get another chart up here and let the folks see what you're dealing with here. Oh, here comes black swan alert. This auto gets their attention, that's for sure. I really think something serious is coming because I hadn't seen this much, what do you call it, overblown bullishness in a very, very long time. And as you know, I've been, I missed that last 100 points in the S&P for sure, but I think, yeah, well, that's okay. Like my grandma says, you got to have two quarters when you get on the bus because if you don't find the girl on the first bus, she'll probably be on the second. So I always carry some extra quarters in my pocket. Okay, tell us what the black swan alert is. Yeah, you know, last time we were on the show, Larry, I showed the open interest in options right now and call options and that is really what's driving the skew index as high as it is. What the skew index really captures is how the market is pricing left tail risk. And well, when that skew is at 100, that indicates kind of a normal distribution of S&P 500 returns. But as it approaches 145, the probability of a two standard deviation downside move in prices jumps from about 2% to 15%. And when we have this juxtaposed against the VIX, when the VIX gets very, very low and the skew index is very, very high as it is today, that, you know, you get the alligator jaws wide open as I've kind of illustrated them there and that basically is indicative of a higher or really the most elevated level of risk of a black swan event, something that the market just isn't pricing in at this point. And what this is saying is that the options market is not pricing in the level of risk that probably exists in the market. Last week, we saw the skew index jump up to 157 in per week, but then it reversed sharply lower and we saw the VIX close at a 40 month low on Friday. That is a risky proposition at this point. And my suspicion is that, you know, these two indexes are poised to converge and those alligator jaws are going to snapshot and that will occur in concert with a big decline in equity markets in my opinion. Wow. Okay. We've got to pay a few bills. We'd be back with Jeff Hughes of Alpha Insights folks. Stay with us, please, 877-976648. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks and commodities, subscribe to the opening call newsletter at tfnn.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. 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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, Foresight Fund Services, LLC. This program is brought to you by Vista Gold. Traded on the NYSE American and TSX under the symbol VGZ. A lot of folks talking with Jeff Fuge, Alpha Insights and he's got a chart up here that'll be very interesting to most people. The mother of all meltups. They're talking about that old dot-com bubble. Boy, that was... We saw the Nasdaq lose 85% of its value. I remember that friend of mine, Tom Hougart, was short all the way down and became very famous on that move. But tell us what you're looking at here, Jeff. Well, you know, Larry, there's a well-regarded economist by the name Ed Giardini who I respect quite a bit. I know Ed, yeah. Yeah, he's coined this frame, the mother of all meltups. He's been calling this move off the October lows, the mother of all meltups. And, you know, I don't know how you could really say it's a meltup when we haven't even hit a new all-time high yet. And I started doing a lot of analogs just to kind of see where it fit best. And, you know, I think the closest fit is really to the dot-com boom bus cycle that we had between 1999 and 2001. If you go back to 2020 where we came off those COVID lows, the rise into the peak in January of 2022 was very similar percentage-wise to the rise into the peak in March of 2000. And the decline was very similar as well. It counted five waves down at a lower degree of trend. What we determined was looking back at that dot-com boom bus, that was a break into cycle wave four. The peak was cycle wave three in March of 2000. We peaked at super-cycle degree in January of 2022. And so we are in the early stages of super-cycle wave four. And it's likely to be bigger and better than what we saw in back in the 99 to 2001 period. But the interesting thing is the rally off the initial decline, which back in the 2000 period was slightly greater than a 61.8% retracement, up about 43.5%. The rally that we've seen so far off the October lows in the NASDAQ is about 46.5%. So just about 3% difference. We've overshot that 618 retracement by a little bit as well. We're actually knocking on the door of the 78.6% retracement. But the shape is basically the same. It's three waves. It's a little bit more complex this time. We count it best as a double zigzag versus a zigzag previously. But what followed intermediate wave to back in August of 2000 was a 70% plunge into the wave A low, which came in around September of 2001, right about the time the Twin Towers went down. This time, we are expecting things to be at least that bad, if not worse, when they break. I don't have any idea what will be the cause of that. But I think you have to ask the question at this juncture. Do you want to be long, you know, the stocks that are driving this, those seven stocks, the Magnificent Seven as they become known at the peak of this hysteria? Or do you want to own T-bills safely and earn 5.25% on your money and watch as a spectator while what is likely to become an epic collapse unfolds before your very eyes? Jeff, you know, I do a lot of work on that Nasdaq. I hardly ever trade it, but I watch it because there are so many people that are in it. And then based on my work, we made an exact 78.6 retracement on the weekly chart. I did that and I double checked it. I think within nine points of the exact number, which to me is pretty much spot on. So that means the fact that we've come off 150 points so far, which isn't very much. But I think that's a very significant point to make. Maybe we go up a little bit higher one more time, but we'll have to wait and see. But it's certainly interesting. We've got a couple other charts here that I'd like to get to because, you know, you do so much work here that I think it's really... Well, this one's really interesting here. This is the S&P here. Let's get this up here and we'll see what's happening. Hold on here. I want to give... Short-term immediate wave view on the S&P 500. And what we've really done is we've kind of blown up that period really from October to present. So you can kind of see how things have unfolded. Three waves up into the February 2nd high. We count that as the first zigzag of a double zigzag peaked on February 2nd. Then we got that collapse into the March 13th low. Also three waves. And that was as the banking crisis was unfolding. That was an X wave. And since then, we've seen another three wave advance unfold. And we think we're in the terminal stages here. We've got a couple of targets that we've been playing around with. The first one was hit on Friday at 4426. That's where wave A and wave C were equal within wave Y. The next relationship we see is at 4513. That's when wave W and wave Y will be equal. And then the 786 retracement in the S&P 500 cash index comes into play at about 4534. We think anywhere in there would be a reasonable place for the market to find its peak and begin to sell off. We think a break below 4299 would be a very, very high probability point to suggest that wave 3 down is confirmed. We'll know for certain once it breaks through 4186, that'll eliminate all the other possibilities and confirm that primary wave 3 down is in progress. And we expect that to carry prices significantly below the October 13th lows. You're a firm believer that wave 3 is the most violent of all the wave structure. I don't agree with all the Elliott wave stuff, but I know that wave 3, I believe everything is 3 wave, but if that's what I would be looking at as far as being a very, very important swing down, do you agree with that? I concur. I think it's been documented that third waves and C waves are the most violent. They're the most powerful and the most dynamic. Okay. Uh-oh. I made a mistake here. I want to get your avatar and your cute little cartoon up here that you have for your hot shucks. I got this thing mixed up. Don't ever let an Italian work with a mouse. It's just too dangerous. Hold on, let me get this up here. There we go. Hold on one second now and we'll get up here and tell the folks how they can get your newsletter and have them look at the statistics of what you've done. I think that's the most amazing part of that letter. Yeah, we publish that every week. So no doubt, but you can go to hugeinsights.substack.com and that's where you can find our monthly newsletter. We've been publishing this for almost two years now. We do charge a small fee to get full access, but we give the first four or five pages out as a preview and it gives a good sense of what we're seeing in terms of the economic environment and the market environment and where we think the big macro factors are affecting the markets as they are. If you really want to know what we think, you can pay $12 a month and get access to the full forecast. We give our positioning recommendations and some actionable trade ideas. So investors who are looking to put money to work can take advantage of that, but huge insights, the big picture available at hugeinsights.substack.com. Jeff, thank you so much for being our guest. Stay on the green side of the grass. Keep living the dream and we'll have you on again in a couple of weeks, okay? Yeah, this sounds great, Larry. You have a great one, too. Take care. My God bless. Thank you, Jeff. Jeff Hughes, Alpha Insights, folks. Stand up, guy. 877-976648. 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Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Okay, folks, I posted this chart again, which I think is the most important chart that I've seen in a long time. This is the S&P 493 stocks that are just meandering slightly up versus the 7, the Magnificent 7 that have been going straight up. But that pattern is a 3-drive to a top pattern. And it's gone a little bit higher because this was done about 10 days ago. But I've done a lot of work with this. I've measured the swings. And boy, this is a multiple ABCD, much like wheat was, folks. Remember when wheat was at $6 and nobody wanted it? Well, I got the $7 and everybody wants it. So the buyers and the sellers can be different sellers, be different sellers, as I used to say, in that reminiscences of a stock operator by Edwin LaFever. But this is a very, very important chart. Right now, the market has come down virtually nowhere from the high. It's just within spitting distance of the high. And we can still make another new high. But somewhere in this area, this is it. Remember that June swoon that we looked at with those statistics? 14 out of the last 14 years, June has been down. I mean, that's what it says. I mean, I didn't double check that. I double checked two or three of the months. But that's what the statistics say. So whether that's part of selling May and go away, I don't know. But the sell in May and go away didn't work because May was straight up. So you got to be careful. Remember, it's not how much money you make. It's how much money you don't lose. That's the whole key to this whole thing. Like you say, you can lose three, four, five, six times in a row. Fortunately for trade, what you see, we've had a couple of times where we've lost three losers. But that's a very rare event. But even you could lose four or five, but you're going to have streaks where you do everything right for seven or eight, 10 or 11 trades. 19. I've had 19 straight winning days was my longest streak. And the 20th day was I was 100% sure it was going to be 20. And I was 0 for five that day. And I remember Mark telling me before the day even started, I said, how did you know? I said, it was the inflection in your voice. We'll see you tomorrow, folks. Our guests will be none other than Bill Meridian of Cycles Research. So may God bless.