 The following is a presentation of TFNN, the Tiger Technician Hour with your host, Hazel Chapman. Call now, toll-free at 1-877-927-6648. Good morning everyone, Hazel Chapman here. Let me just give a quick update. We've got called waiting, we've got down to 122 at 32,682 on this Thursday, the 12th of October and that 200-period moving average I'd mentioned for the last couple of days were right there at 33,858. We went right to 33,863 today and now we're pulling back down 124 but this is a little digestive phase at S&P. I'll just run this really quickly, S&P down just a little down 7 at 43,70 the QQQ, which is the NDX100, up $1.26 acting really well because of the semiconductors. Let me go to gold and then we'll go, gold is up to and the dollar is up as well. Dollar is up 44 with ticks at 106.16. I'll talk about that when we return because we're going straight to Gara in California. Hi Gara, how are you? I'm very good, how about you sir? I'm good, thank you. What would you like to look at today? Back to square number one. Okay, square, the SQQ, yes sir. Yeah, the square-pig and a round hole. Yes sir, I have to step back a little bit, one step back. On Monday, October the 9th, I called you, I was the first caller and I asked you on the daily chart, on a daily chart it had, on a daily chart we had only two dots at the bottom. Correct. Yeah, and it was around $43 and I was short 1000 shares and I said that, I'm going to keep that for the 20 to 30 minutes, I always keep 20 to 30 minutes and whatever I eat, whatever I catch, you know, I'm not greedy and so on. I said that I'm going to stay not more than 20 minutes and so forth and I said that, what is your idea? You think that this is going to go up from here or is going to roll down? And you said this is going to roll down, go back to $39. And I said, thank you and so forth. It went up all the way and it broke that knowledge above that 21-day simple moving average. Yes. Now what is your idea? You think this is going to hover here until that 50-day simple moving average descends so that 50-day will intercept with the candle and the candle will go above 50-day or this is going to be the end of it and it's just going to roll down, go down and go to $39 and open new law. What is your idea? I know you cannot do miracles. I know that, Mr. Bezos. Right. So did go, I see it. I want your idea. That's all. Okay. I wanted to just go back because if you remember what I said is at that particular point that it looked to me like it could be a little bit of a bounce and that's what you had to be careful of. So it did actually pull back but then it bounced and then what happened is the following session it added another game. So this square is looking very much like a lot of these stocks that were actually decimated over the last couple of years. I'd include that. I'd put Shopify. There are a lot of them in the same category but what is really interesting about Square, it's in the tech sector that has a relationship to some finance. In this case, it's the block trading. That's why it's called block now. And it's had a bit of a bounce and it's gone from that 40, was that 39 and 40? 40.77 low on the fifth yesterday hit a higher 47.54 pulling back today. So one of the things that I looked at is the nine period moving average was still very weak and I know you're talking about 20, 30 minutes but I'm just looking at the dating chart because the larger tide is the one that I like to follow and the larger tide in the weekly chart says yes, there were two doji candles before last week which is a nice green candle but this week which is a nice green candle but none of the technicals have improved. So that's the reason why I'm saying that there's a good chance that Square does a retest of the whole 41 to 40, maybe 39 level but just on a very short term you're looking at it on a 15 minutes, 30 minutes you're looking at a very short term timeframe but the weekly chart, sorry the dating chart has seen an improvement, not enough for me to say that the nine period moving has crossed positive or the magnitude is quite good, sarcastic has already to 64%. So you are short from this morning and you're still short or you're taking a profit? No, no, I'm not. At this point the Square is my idea. It's not long, it's not short. It is a no man's land. I'm not going to touch Square until it shows myself that it's going to stay here, go higher or it's going to go below that 21 day. If it goes below 21 day, I'm going to short it but if it stays there, you're right it doesn't show me no strength for it to go long. So I'm just watching it. Okay, so on a very short term there's just enough energy for you to try to get to fill, well that gap, let's see, the gap low was what's happened to my mouse, there it is. The gap low was 47.52 and yesterday it hit 47.54 so it got into the gap. So that gap is now a little bit like a magnet and that big ugly candle and I wouldn't be surprised over the next three Monday or Tuesday we could even see a test of the 48.20 area because it's in an area that the tech sector is starting to find some buyers and that's really important so I would not be looking at this as a short as along it needs a lot of work before I feel comfortable saying that this is going to go back to say the 50s and it's at 46.77 right now. So I agree with you but you know what's interesting is that you've had four dots that's the SAR folks this is called the parabolic SAR and that was a very good clue it actually did it on the day after the low was made at 40.77 so in that regard that also is showing that just a very short term there is still a little upside momentum so that's really what I want to impart to you that as a start looking at it monthly and weekly it needs a lot of work but on a daily basis I can see it this is a very oversold condition so it's balancing yes yes yes absolutely yes but that's the dots under that SAR parabolic Mr. Basiel to me it does miracles believe me it is the only thing I can count on it very very much whatever money I made in stock market is because of that dots on the SAR parabolic on a daily SAR parabolic it tells me that the momentum is changing or changed even if it's temporary and I follow those dots so much but I do thank you very much for your time sir I understood yet I just wanted to say because a lot of people are listening and a lot of people have followed you for years and you've always been following the SAR and you've always done very nice short of a trace I consider that if you do something very well over and over and over you get to know your little package you know exactly what you're looking for that's exactly what you do congratulations I like that very much thank you for calling have a nice day thank you now down 112 in the down as we're only down three there's a little diverge and the queues are rallying I'll talk about that when we return if you're looking for potential trading setups in the stock market then Rocket Equities and Options report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for Rocket Equities and Options report today with a 30 day money back guarantee so you have nothing to risk for all the details and to 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investors and become a part of this educational community of traders just visit the front page of TFNN.com toll free at 1-877-927-6648 internationally at 727-873-7618 so I just wanted to show you this is that um that was at 6.20 this 6.10 6.20 this morning the one minute chart made a pd in the e-mini but sneeze and then it made a cup formation with a much lower right right shoulder over there pull back pull back to the 200 period moving average made a little pop to the upside made an art formation and then started a p a then a little mini a then a b c d I went to an e at about 43 4431 and then it made this cup formation touch the 200 period moving average the magnet of the 200 period moving average and then balanced one more time but the technicals look how weak they were and then you got the doji candle and then what happened you had to use it 830 comes zipping down tries to rally retest the 200 period moving average because that's your magnet line and then it gets repelled smash it goes to the downside drop sharply to the 4409 area and then what does it do it bounces and makes an art formation but you can see the magnetic popped up and then the soldier fade the stochastic went way over 20 80% and then it plunged the on balance volume gave you a lovely right there on that candle it gave you a nice reversal pattern and then it continued down then you got your one to one expansion of the the plum line that I chose right here it went almost to it rallied and then broke down a little later and then what happened it continued down down down so this has been in a cell mode almost all morning since since that 6 o'clock time frame even with that balance at 8 o'clock and then what does it do I'm going to skip from the one it's like going from the one minute with the what the dating chart to the monthly chart and I'm going from the dating to the to well before I do that to the 10 minute chart that'll be the monthly well 10 minute chart is this the third time frame we've got the one minute you've got the five minute which made a peak E at 8 o'clock at about 44 just under 44 30 and then it pulled back and it went under the quickly under the 200 p.m. moving average made an art formation retested and then broke down but look at this I this is so fascinating I talk about this all the time how you just have to put some indicators on your chart these are technical tools the only tools do you need your hammer when you actually need a chisel do you need your chisel when you need a screwdriver no you need what you need when you need it and you just have it sitting there ready to grab so here it is the 200 p.m. moving average let me squash this chart let me condense it so that you can see how important this 200 p.m. moving average is being look at this you can go all the way back to or all the way all the way back I mean all the way back look at this that whole cluster formation that peak D remember the chapter methodology D or E that's where you've got to really prepare for some kind of change in trend we did the one to one to the upside that was at that peak D at 6.50 on the 6th of it was on Friday the 6th of October then a pullback sharply did a one to one expansion and then what happens is it breaks to the upside it goes peak ABC DE stalls right there at 2 o'clock in the afternoon and then pulls back look at this 200 p.m. moving average it went under it that became a propellant for just for a moment and then it became a sorry a repellent and then it became a propellant and then it became a magnet and was a magnet it was rising slightly and it became a magnet from the gap down at 6.10 in the morning on the 6th on the 8th and no matter what happened so I maybe I'll do that tomorrow technical Friday maybe I'll just put this long narrow rectangle I'll have a whole session when talking about this if I remember what happens because overnight between 4 o'clock close in the market and 5 o'clock close in the futures you can go all the way through to the next day sometimes over the weekend and you stay within a 20-point range and look at this how the 200 p.m. moving average was a magnet and then it became a propellant and you did that big move up to the peak D right there that's the one on the 9th at 3.10 in the afternoon and then look what happened you went to the sideways consolidation 20-point consolidation and then you broke to the upside and you went all the way to this peak G forget about the 200 p.m. moving average you didn't need it until keeps going keeps going keep following that orange line and all of a sudden at 8 o'clock 11.20 at 11.20 on the 11th what are we today we're on the trough that was yesterday it hit the 200 p.m. moving average oh that's right and then came down and then had that really good turnaround the turnaround was so good that the S&P you many went to higher highs went to peak D then a very small peak A, B, C1, C2 pulls back goes to another A, B, C, D, E, F pulls back goes to peak A, B, C, D pulls back the 9 p.m. moving average holes and it goes to peak E 8 o'clock comes tumbling down say 8.30 so this is very interesting because now the 200 p.m. moving average of 44.09 is the magnet line for any rebound today that's going to be key and how it handles that and how it's able to move above it if it can that's going to be important alright I want you to get there just to show just one technical tool I did have the left side right side price time match going to 11 o'clock this morning going to the low of this cluster formation right here and that was a 43.94 well we went a little bit under it we went to 43.93 43.93 43.95 and now we're bouncing so okay I just wanted to show you that just because everything I'm talking about now for the questions that I have related or related to the techniques that I've discussed when I'm showing those particular charts so square is down 13 cents at 46.56 to follow up on Garo's comments as we were looking at the other day I'd said to him my bigger target is retesting the 41 to 39 area but on a very short-term basis the gap up three days ago I said that there was a chance that you could hit the 14-period moving average when you went above it but look that nine-period moving average it's going to be so important because does it deflect lower as it's done every other time or does it turn green and that's kind of the way I'm looking at many of these things so now let's just go through these I'll go look here's the Dow I wrote down notes so I always forget to look at the notes should I look at the notes or the questions that came in let's just do this let's just do this so well long kind of aggressively long we've taken some profits but we're aggressively wrong we've got a key short from the exact high August 1st in the Dow still holding that because I think we still have to do some retesting before we can get a really decent rally I mean one with the capability of moving for the weekly chart to the 34,000 134,200 level in the weekly chart so in the meantime we're pulling back a little bit down 99 down 100 points and holding the 14-period moving average but that 9-period moving average isn't even close to crossing positive there's a lot of work that has to be done I do see buying coming in I do see buying coming in today to help a little bit down 96 down $1.43 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 the 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 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So I've got some questions that have come in but I'd like to do this because to me it is absolutely imperative that you get the tide and the tide in the semiconductors are from the 167.17 all-time high on the 31st of July. Look what you can see. So we're still short from just under two points off the all-time high. Look at this beautiful one to one there's this expansion that for the Chapman this is an inverted falling exformation. I don't know what to go into. I showed it yesterday. I'll just show the pattern if I can find it quickly. Yes, there it is. So that's this way you've got instead of the rising and then you make this lower highs and much lower lows rising lower highs and much lower lows pattern with a breakout to the upside this is upside down. And then you expand you make much higher highs and higher lows and suddenly the chart forms an arch formation at a peak A or B even a C or D but it makes an arch formation then comes back and then takes out the lower rising trend line support and you can go one-to-one to the downside. Well, lo and behold we went up we did that and we took this out we went more than one-to-one we did this huge expansion like the Tiger the TFNN crew a one-to-one lightning bolt pattern where it goes from A to B and then C to D. That's got nothing to do with channel wave notational script. This went to peak ABC and then an exact blue line down and now it's done almost an exact green line up and where is it stopping? It's stopping at the inside track repellent zone. I'm going to make this a nice educational chart. So that becomes green that becomes pink there we go pink I like to use pink because it distinguishes between the red the candles and pink is something different and now we're in the inside track repellent zone chaff wave inside this turns out to be almost an exact it's maybe a few degrees off of the channel line down. So are we going to reverse now and then start a trip to the DAL so maybe get to a D over the next couple of days? This is a big question but remember we're talking about the dollar and so I'm mixing up I guess this is the technical Friday. This is an Oleg C. The MACD is good the stochastic is flat at 92% that is fabulous action it's up a dollar 85 up 1.22% the DAL is down 0.34% the SB is down 0.14% the Q is up 0.39% so this is really very nice and this is that rotational aspect that I'm always talking about so now if you look at the weekly chart you've got your A to B equal C to D it happens to be trough B in the chaff wave but look what happened. Here's your inside track just like I call this inside track repellent zone if we go nicely above it and two out of three candles close well above the trendline that becomes a proponent zone even though we may be going to a D, D or E where you can turn down but look at this the weekly chart has shown an improvement and if you look at the weekly chart of the SMHs let me show you this this is well I've got the dollar chart I'll change it because the dollar deflected up and we still haven't gone pink and that's just telling me that the rallying gold I consider to be important right now I'm not sure that this is the big rallying gold because I still see strength in the dollar even though we made a very short-term peak E top in the daily chart so let me show you the SMHs I want to show you the pattern this is the daily look how strong it is the 9 over the 14 but look at the weekly chart if I can find there it is because the weekly chart it deflected up it didn't even go pink so that is the SMHs I'll still look at the dollar I'm just showing you pattern to pattern the dollar is just steady on the upside could turn down at any moment but so far good so let's just go back the reason why I've got short-term trades for my subscribers who managed to get the lows but most of them will just close to the lows but the reason why we're treating this as trades and taking little bits off on each big rally is because I think it's going to fade at some point fairly soon I don't know when because I need to see some other things happening but as long as the SMHs and they were the clue they made a low on right there on the 27th of that's the 27th of July same day as and look at this I should have put the date on the 3rd of October wait wait wait July I meant September September and on the 3rd of October the S&P made it slow 3 days before the Dow the Dow made it on the 6th so all of this is extremely oversold condition let me go back to the pattern we were looking at for the dollar just to explain why I'm talking about the dollar not yet on a daily basis the little doji candle I mentioned this before gave me an indication that this could be a deeper pullback in the dollar but just on a daily basis because the weekly chart look at this weekly chart a doji this is kind of an evening start it's all a little hammer candle long hammer candle last week this week it's gone back into the WIC this is the dollar index look at the MACD how good it is look at the sarcastic 90% and so far it's flat and the 9 is way over the 14 and the price is way over the 9 it's going to take a lot to get and that's why I'm saying that I think there's a process going on whereby it's going to take a little while before the dollar actually does it doesn't mean to say it's going to even take out that high even though this is a peak B it should go to C&D with the technical so strong I want to go one step at a time and what I'm saying you remember the S&H chart that we were looking at that weekly how it just kept walking the green line there and going higher and the 9p moving average hadn't turned negative exactly the same things happened here in the dollar so I'm not really after the dollar can't pull back I'm just saying I'm impressed by the fact that this technical tool of last resort is telling me that even though the MACD is down the sarcastic sharply lower it's a little bit of a balance here I haven't got the on balance volumes and let's go to the UUP and the reason why I'm taking a little time on this is it's really important look at the UUP this is very nice little dojo candle at a peak D in the Chapman wave always got to be careful now what have you got you've got this pattern right here lower lows lower highs and we've got the potential to cut formation so all I'm saying is I'm not yet ready to give up on the I should say we're still long the dollar from 2018 I'm not prepared to give up on the dollar the dollar is holding very nicely and if you look at the weekly chart it's going to take some really bad news for this dollar to plunge that's the UUP power shares DB that we're looking at right now it can happen I just haven't seen it ready quite at this moment to do quite that and let's just go back to gold very nice move from the low at about 1820 up to today's high of 1898 that's 70 points I was saying you would expect a little war etc going on that gold would be up 50 60 well it's actually up 70 it took a little while but this is a big move up but look at that 200 period moving average in the weekly chart that's what it has to overcome and then the dollar will be back all right I've got that out the way now we're going to look at stocks as soon as I return that was on 116 as of these downsets we'll be right back the 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 subscribe to Tom O'Brien's gold report newsletter now at TFNN.com Are you ready to take your trading to the next level? 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about education so CLH CLH so I was also taught that and it's a very interesting this is a clean harbors ink oil gas and lodging services waste management environmental services all sorts of things like that let's go to the data chart so the data chart has had this channel to the downside and has hit these levels so consistently just a beautiful parallel channel to the downside and this is what I call the chat wave inside track repellent zone don't have to put the propellant zone it hasn't got there yet so if this this symbol can take out so there's the inside track propellant zone and repellent zone this is the repellent zone right if we can hold above that if we can go to the 168 and a half it's a 164 right now if we can just touch 168 and then hold above 166 in this 160 no it needs to go to 169 and then hold 168 of support and then try to push to 170 that'll be a really significant breakout in the data chart and it turns out to be almost the same pattern in the weekly chart the weekly chart would have to see almost the same thing for it to start to improve the technicals in the data have actually improved a little but even though today's down three at 164 38 but look at the monthly chart and that's what I always say try to get your this isn't in a major up a rising tide the weekly is in a rising tide but having a little digestion for in not in digestion just a digestive phase and the daily has got in digestion is really coming down lower lows and lower highs lower lows and lower highs so who's going to be very important this is the move with the technicals improving that that pink 9p removing average can cross positive so my question is what about CLH and the answer is not yet it is beginning to improve but it's so consistently broken from this inside track repellent zone that I have to have proof that it can go above it and treat that I can't just go look like one of those things that I always one of those cute little creatures always is standing with the heads like this always looking up looking up you always see them and all the same thing well this is what it needs to do needs to go up there so that it's got the head holding high but right now it's in a it's in a consolidation phase so I would not do anything with it let's look at it again in about a 3-4 days then it was mentioned I N F Y I read it up with that I type in the wrong place I probably did I N F O I have to write down the correct symbol right oh there it is oh my look at this this is the infrosystems technologies I remember at some point saying wow what a nice rally about the 200p removing average think that was in August going to September and then I must have stuck that this P D right you have a little double top of P D in September at 118 1828 1838 and then 1818 is that right now I think they're both the same 1818 and 1818 yeah exact double top and then what happens is pulls back holds the 200p removing average breaks under a thing uses it as a as a as a as a propellant peak AB I didn't put this in because I haven't seen it and today it's down at $1.17 at 16.44 it's down six six and a half percent so this is a big and this is interesting because I made a P in the weekly chart now I can't remember was what did someone have here if you're in this I just say be really careful because it's already done that P D both in the daily and the weekly and it's failed the way what the way I like to handle anything like this thank goodness we haven't had one of these in years and years we have but not in years and years and years in fact the one that we had is that where we got in and a gap down like this and fortunately we were in low enough that we could just get out there was another one that from our entry point to the bounce of the day we were able to mitigate what was a big one of our biggest down moves ever I think it was 12% that was that was ugly I did not like that at all and was out of the blue so yeah so this is I can't remember there was a question to it I'm just saying I would take something off that's my obligation always it's just keep you know what you can get right now you can get $16.40 you don't know what you can get the next few days something's wrong it could just be a one one off so at least take something off this question was oh did I write oh zoom no what is my wife on right now oh zoom right she's on zoom is this a double bottom I haven't oh my I haven't dated this for ages it kind of went off my okay I'll do this right now so here's your lowest obvious low bar that goes to peak A but this is underneath it and this is just starting point remember this is just starting point and from the low bar you've got to count each successively higher bar regardless so this is also an A what it turns out that this is a B underneath the previous A and then this becomes a C almost at the exact same level and that becomes a D and that becomes an E so this has had your arch formation so far is holding kind of okay in the arch formation I just think that there must be a lot of competition in this area in the area of zoom, zoom technologies that was called zoom video zoom video something other communications I met someone once they said oh yeah a friend of mine his son he started this company just didn't seem like very much of the time but he was really interested he thought it had the potential and here it is look at that that's zoom so this is yeah I have trouble with this one I've thought about it a long time because I think this is the technology but it's become so pervasive with other I think Microsoft has something like this I've used other systems so I think the competition is really the issue so that that you spoke to 585 back in November of 2020 and now it's 64 is only lost 510 points come on what's the big deal anyway I would be very hesitant to do anything but to treat it as a trade can you treat it as a trade at 64.08 because it took out both the left side low of three four days ago and the left side low of the 22nd of June at 63.59 today's low 63.33 I'm inclined to say yes as a trade but in this environment it should have had a big move because you would think with people being stuck in the houses now in many places in around the world out of fear of whatever is going on the zoom would become very active again the chart is not really saying that the chart says they've got a financial issue I have to look at this chart and say I think it's a financial issue they've got everything that they need are so many organizations that I know of say we're going to zoom I don't know why they are making a bundle so something's wrong so you know what hold off let's look at it again tomorrow I want to see where it closes and I want to see within three days if it's 8 close of 66 alright let's just see what happens next thing we'll look at when I get back is syntax oh syntax what a snack and look at what you're talking about the opening call newsletter at TFNN.com the opening call 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30 days of signing up subscribe to the Fibonacci 24-7 newsletter today TFNN.com educating investors there's no cash or added costs when you join our community of traders in the Tigers Den you can look over the shoulders of Tom O'Brien 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 Tigris as they share trading ideas, news analysis and discuss the market action all trading day even at night and on the weekends the Tigers Den and 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 I'm not getting them I always get them I must check them out but I didn't have a question about X-P-E-N-G X-P-E-V that's X-PEN Inc. designs the various manufacturers smart EVs from China and they had just opened a bigger facility and they were starting to ship cars they were just a couple of days ago about to ship cars or they had to Israel not good time so yeah it's turning down I'll just be real careful and as I said just sticking with something like a Tesla and following it up and down is holding really well it's kind of the benchmark that I'm looking at next question was Bank of America so Bank of America has just made a leg E-A and it could be a peak A it's actually a very very ungainly chart in the daily we just saw the same pattern it's almost like zoom in the weekly chart so I'm going to suggest that if you're all along and I think the person asking the question Mike's asking the question was that Steve I'm just going to say if you start a position here there's nothing wrong with that because Bank of America sometimes has slow starts and then it starts to make high highs and high lows and that means that the TLTO I haven't got to the TLT today it looks like TLT looks like Bank of America alright so for subscribers we got an electronic bank banking system because I think it's just more cutting edge it has a little and it's done very nicely for us in the very short term that's when we got it Friday so I'm just going to say Bank of America I'm not going to say to you or get out of or anything I'm going to say if you've got it hold on if you want to get in at $0.2687 I would have an $0.80 stop today's low is $0.2661 it's a $0.2887 you can even have a $0.2621 stop because it shouldn't pull back that far if it's going to go to a leg B so that's the way I would look at it I think it will be gained because it's really important for the financials to move thank you for Steve Rose check out most of all my dating newsletter and fake programming here and I will see you tomorrow