 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. We're gonna start out a little differently today folks I'm starting out with the Dow Jones Transportation's as you can see here is making a massive Gartley up here at the 78 percent retracement of the high that we made a high was actually made in middle of the 20 end of 2020 not 20 21, but anyway as you can see here It's been down for 78 weeks and alley up for 38 with 75 weeks 38 weeks up That is a another in other words the time down is Equal to 61 percent of the time up Setting right at the 78 percent level in the Dow Jones and in the Dow Jones Transportation don't trade it haven't been around ever since ritual Russell passed away No one really follows the Dow theory anymore, and of course the Dow theory has been you know pretty much spot on here with the transportation utilities and The Dow Jones Index itself have been going sharply higher, but we're setting right at the 78 percent retracement as of the high today It's closer to the low of the day right now Than the high of the day now the only reason I'm watching that is someone brought it to my attention and Because I haven't traded it before I wanted to watch it just to see how it acted Okay, we've got a bunch of things to cover one is from one of our listeners. I wanted to get this up here he sent this to me and He's over in Dubai, and I want to get this up here, so you'll be able to see it more done with this I've got to show you the sequence in the German Dax today it just really was unbelievable that'll be next okay First of all what we're gonna do is we're gonna look at softy Microsoft now This is a weekly chart so it goes back a long way, but what I want you to see is he drew in all of these patterns He's learning from the book Watching the videos and stuff and you know watching the YouTube so he's seeing the patterns perfectly And he said I just don't understand where I am I said look you've only been doing this a couple weeks This is a great job. The only thing he did different was he made he labeled this as 1 2 3 and it's not it's a 1 3 5 a 1 2 3 drive to a bottom comes in here 1 2 3 drive to a bottom 1 3 5 higher bottoms. This is what we just had in gold and silver folks That's why we've been so darn bullish silver is up a dollar a dollar today. I mean, that's a that's a big amount Boys and girls, you know, that's that's a huge amount Anyway, let's so that's what we're having. What's what we've got going on? I told you did a great job You just got to keep drawing and keep practicing and once you do about four or five hundred of these You're gonna be able to see him in your sleep. You'll know where the ratios are You know what the patterns are and then you just got to put the orders in and pray for your best folks I have been doing this business My first trade was 1959, but I really didn't get involved until 1961 62 when I started trading corn and wheat and stuff like that when I was Still in you know in undergraduate pharmacy stuff and then later on in grad school I got involved with silver never any stocks, but I want to show you something that's literally Absolutely blew me away. Okay, I'm gonna get up here. This is corn folks and believe me corn has one of The biggest followers in the world. I mean, it's the number one food supplement green in the world is corn By far our biggest crop not counting marijuana. Well, that's a joke. Anyway, you'll notice here that we sold it right here Okay, and we had an ABCD pattern right here and I sold it at 04 and I put a stop at 506 and You see that little red arrow there that high on the day was 505 and a half it hit there four times within an hour never seeing 506 now why is that important for two reasons? One is it tells you that these markets are pretty doggone fair. Okay, they really are so when you put the stop in That's what you got to do. You got to just say, okay, I think you're right. Let's see what's happening Now, let me show you what happened to corn After the report came out today and you'll be surprised and you know what you have to do It just picture the the Dow Jones or the S&P or the Nasdaq upside down because this thing just absolutely fell out of it It dropped 26 cents our first profit objective, of course was right there that's where right before the report and You have the choice then they're going into the report, you know got a lead there That's helpful, but you know these things can move quite a bit. I suggested you know, you've got a ABCD there and That's probably where you ought to take your profit But remember you could have put a stop in and the fact that this one didn't even get taken out by By a half a cent in corn. Are you kidding me back in the old days on the floor that thing would have been gone at At 501 and a quarter or something. I mean, it's just amazing to me how how accurate this electronic trading actually is it's just Totally amazing to me now here is the one that is the most important for today And for the week want to get this up here because this is I want to show you where I messed up this week If I start talking about how many times I make it mess up I probably wouldn't spend I'm going to need four hours in a trading day Okay Here is where we were last Friday if you remember and I really thought that we had already made that level because we were Looking forward to get to 45-25 Folks to hide today was 45 24 in one half Does that mean anything don't really know all I know is that that's what really happened because yes to last Friday This was a big move for us folks. We made a lot of money in that Dow Jones trade gave some of it back Yes, that's true, but we still made a lot of money. We did it over and we're up about 4,000 We gave back 1,500 so we ended up 2,500 but we had the same type of break here Okay, the distance the difference is this only took four or five trading sessions To get down there and then the market went all the way up and made that big fib number that 45 24 and a half It may or may not mean anything, you know, it's the middle of the week But watch to see where it closes today because if it closes, you know only two hours to go the closes lower Which you probably can't but who knows in these kind of markets that'll tell you yes Maybe this is an important high that we're seeing and we're really up there here. We look at the Dow Jones Transportation we look at this. I mean, it's really quite amazing not only that folks the NASDAQ Went up and then it's made a new high on this last run So from the last run that we had whether it's I don't believe it's a new high You know what I think I could check that without Any trouble at all. Let me give me one second here folks I've got a couple of things I got a couple things going on here that are Position-wise that I've got to be careful of I've got a Hold on this a second Bear with me. I want to put what I'm doing folks is I'm looking for the NASDAQ And I want to get the weekly up so we can see where we are with the NASDAQ because no This is interesting because get this here take a look at it. We made a new high on the week and hold on and we took out the high of the 16th that high was Hold on but stay with me folks. 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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 found a 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 8-7-3-7-6-1-8 Okay, we're back folks. I posted the weekly chart here of the NASDAQ going back the last 18 months But if you'll notice here the high that we made on June 6 was violated today We did make a new high in the NASDAQ we went 10 points higher than the high of June 6 And we've already broken 60 handles to the downside actually Let's try it again 75 handles to the downside So that's a pretty big drop and we're giving you today action that we're seeing right now now Believe it or not because of the action last week. I thought that was the high but as John Jamison said You're gonna make a mistake on this one. He said we got a hit 4545 and then we'll see whether we can see if whether we can get there or not and that is a Scam number we got that one turned off So anyway, that's what we're paying attention to today It's gonna be a big day getting all these numbers lined up and to see how they're gonna go now Let's go across the pond over here to the German Dax because I want to show you how the thing line did it Lit up. Okay, let's get this up here for the first one. We're gonna look at here I had to send this to Tom who guard because he trades this all the time And he happened to be watching it and it turned out to do exactly what it said it was going to do You can see the large ABCD pattern that we have here. This was highly suggestive of a rally coming in Okay, now is it gonna be as much as this one? We don't know that at that time Do we so all we're going to do now is we're gonna take a look at what happened today? I'm gonna do it in section so you'll be able to see it without too much trouble You've got to pay attention to the numbers if you like numbers, but if you don't like numbers don't pay attention Okay, here's where we're looking at There is where our this is where our market was supposed to go nuts down here You see when this forecast came out. So there it is right there at 15,000 900 to 16,000. Okay, now we're gonna go back and we're gonna pull it up now and we're gonna look at it in a Sequence of events that you'll be able to see without too much trouble. Here's a the first sequence of it This is remember now. This is just a 16 minute chart What I'm gonna do is blow this up so that you'll see how accurate this darn thing actually really was and that's why You know, we try to do this and I don't do this in the Dax But Alan Smith over in the UK does it for me Anyway, you can see the little pullback here that we have but the most amazing one of all is the next one I'm gonna show you and that's the one that was really quite exciting because this is the bottom one now Remember now. This is a compilation of all these other charts that we've done and all it is now is on the Dax Okay, but it's a one-hour chart putting them all together and that's all I wanted to show you is the harmony That's in this market. I mean look at there. It is right there folks couldn't make it up 16,000 right on the money and went right up to it. This is not you can see that's what was trading right here This was the high of the day, but you can see this little green one right here That's a 1 3 5 pattern folks. You see you have higher bottoms in here. This was the bottom of the large ABCD on the daily ABCd is pretty hard to beat in my opinion. Unfortunately, it doesn't come with news or fundamentals and people don't like it But you know, that's neither here nor there. That's what you got to do. I still can't believe that corn I just cannot believe I thought it didn't have a chance of a snowball and you know where but let's take a look at the Precious metals folks. We already know that we had that double bottom Excuse me the big ABCD bottom in the Hold on one second here in the platinum and then also we've had bullish cartleys and 1 3 5 patterns in the gold. We've been long net for quite a while We're we don't we don't make it all on this folks, but remember when gold was right here That was a 382 on the weekly came in at 1908 the low that was 1903 We've now rallied 60 handles folks right up here two times the harmonic number 32 and there's the 1.618 the big ABCD and In 61% retracement of the high going back way back here about three or four weeks ago and so that's where the short sale came in at 19,630 Dollars and 50 cents and that's what it looks like it's doing We should have a little bit of a pullback in here the real key here folks was right in here This little little low that we had yesterday and another one today This was really telling you that want to go higher This was just a 382 off of that bottom and away it went But the one we were the most bullish about and we've been talking about it for a very long time It's been the silver market and boy it didn't let anybody down today. I'll get this up here It's up over a dollar an ounce believe it or not. That's a five that that's equivalent to 50 bucks In the coin in silver folks is he's $50 in silver is equivalent to a $50 in gold and we're only up 20 some dollars in the gold market. So there's what we're looking at right here You see there's where we are we got above the 786 but look at this explosive move that we have here This could be getting ready to just really run run run Just much like what stocks did but we have to wait and see if that's going to be the case All right, so those are a couple that we really want to pay very very close attention to the other thing that I want Oh, by the way, I wanted to well do that later I want to show you the corn here for just a second because You'll see here that this is broken down We were looking for original bottom to come down here somewhere around 83-84 that's where we are right now But with this big move today, you don't want to wait that wide-ranging bar is a sign of danger So we're going to wait a day or two. We'll probably buy it by Friday would be my guest But you can see what happened here when we broke through the 78 percent level look 61% didn't hold 78 didn't hold the double bottom didn't hold So what we've got to do now is we got to find a pattern down in here It's going to say, okay, where's a low-risk entry in corn much like we did, you know today We found a nice ABCD in a bear market. We sold it. It worked. I still can't believe it didn't get stopped out I I was shocked. It's just stayed there for I mean I fact it was about 2 30 in the morning And I swell my so stood here and you know get the field and go back to sleep And I fell asleep at the desk and by the time I fell asleep at the desk It was trading at 01 so it backed off, you know a nickel says yeah, I'm going to bed. I couldn't believe it That's why I copied it and and and tried to you know show you my goodness I don't see anything like that it just in a tribute to the electronic trading folks that that means it's Really fair. That's a big market. That's the biggest of the agricultural markets by far is the corn market So that's that's not an unusual situation Okay, let's get back and talk a little bit about mr. Jim Bartolioni last yesterday was on if you remember he was talking to us about the The Japanese in and he shared this with us a couple well I think about three or four weeks ago get this up here so you can see where we are And you hold on just a minute and we will get this up here and then we'll be able to take it Then we got to pay a few bills. I believe Okay, here's where we are This is there was your ABCD at the top it missed the top by about 30 cents and then of course it drops $5,000 Now I marked this Early when things started down I said there's going to be your first Correction right here for first of all it's going to be the largest correction since this one back here This one back here will be equal to this one right here if We get to the 3a2 of that move down from way back here And you'll never guess boys and girls drum roll, please Someone roll the drums and I'll get it up here. So you'll be able to see it and you'll be surprised to know that it Got to the 3a2 so hang in there 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 dot com Everything in the universe is governed by the Fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the Fibonacci 24-7 newsletter at TFNN dot com when you subscribe You'll get a weekly report from veteran day trader Larry Pezzavento on stocks You need to pay attention to and you can trust Larry's analysis after all He's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking Expect notifications from Larry on market movement You need to act on at any time first time subscribers also get a 30-day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up Subscribe to the Fibonacci 24-7 newsletter today TFNN dot com educating investors Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts at TFNN You'll get advice and guidance from the authority and technical market analysis, and it's not just dry tedious text TFNN airs live financial content streamed live on TFNN dot com and TFNN's YouTube channel with Tiger TV Live every market day from 8 30 a.m. To 4 p.m. Eastern for free Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world From the moment the market opens until the closing bell sounds Tiger TV has eight different shows with expert hosts to help you Make the right moves with your money Watch online at TFNN dot com or on TFNN's YouTube channel and become the investor you were born to be 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 dot com Okay, we're back folks. I posted the chart of the corn as you can see this black line up here This is the one three five pattern and of course Worked out pretty good. The thing is we want to be looking to be a buyer of corn down here at this 1.27 level Which is down around another 10 cents, but you can see we've rallied back to the 382 of that high today Which I think is a pretty stellar Performance effect. It could rally 10 cents with the negative news. It's out there. So Remember folks. So we had we had soybeans were down 40 cents at one time Corn was down 20 cents at one time wheat I'm not sure because I haven't had a chance to To check it, but I was thought that it was down. Yes, the wheat is down also, but not by as much So that's the main thing that we're paying very very close attention to here today. I want to Spend just a moment going over the US dollar Because what we're going to do now is we're going to look at the dollar index First what we're going to do is we're going to look at it here. This was this is one that we put in the the This was in the Newsletter this past week. I see the week before we were setting my beautiful AB. Oh, I gotta I gotta put the chart in Larry Hello operator Okay, let's get this up here There was the little garly that we had here about 10 days ago and then of course today's action You can see tells us that we're heading down we're taking out all of this right here. This means we're looking at a Bcd all the way down now what we could look at is we could do this we could make this a Bcd which we're making right now and this might hold it We might just clean out all these stops and it might hold I don't know if it's going to do that or not, but that's one thing I want to be looking at I'll look at it through the eyes of the euro I don't trade the dollar index. I take the euro because that's you know 53% of the dollar index so what we're going to do now is we're going to take a look at the dollar index But we're going to look at it on the weekly and folks. This is a nice pattern I don't know if it's going to happen or not, but like I say it's mother-garden country if you can find this one Now this is a dollar index Okay, it's not the euro. It's a dollar index and you can see here. This is the weekly We've broken down below these lows right here Okay, that tells us we could go another buck and a quarter lower to 99 in other words get the double digits And if we get there pay attention to that because it's got three things going for it. It's got a Bcd Correct. It's got one two three drives to a bottom, correct And we also have mr. Fibonacci himself at point six one eight there at 99 and we're trading at 103 Right now, excuse me 100. Oh three now So we're getting close doesn't take much another day half like today and we will be there So we got to be watching that one really closely. We'll do that through the eyes of the euro But we'll do them both just to see if we get confirmation that both of them are coming through at the same time Okay, now those are some of the main things that I wanted to cover today But oh one other one one other one very important. Hold on. This is the Australian dollar We talked about this yesterday and you can see it was breaking out on several different factors And you'll see today with the news of whatever that happened to us must have been good for Australia but boom away it went now This should have been good for the grain markets But you can see grains went straight down the dollar versus the Australian dollar went straight up, okay? So that's telling you that had grain markets in big trouble So this Australian dollar very very interesting here The fact that it can gain so much against the US dollar here. Look at this beautiful three drive Excuse me one three five pattern one three five. There's your tip off It took two days to make a three eight two retracement here and then boom away it went To the upside those three eight twos are very powerful folks That's the one thing that I screwed up this week more than anything else And I do screw them up occasionally more than occasionally But when the old bell rings at the end of the week I don't bet against the old cowboy because I've been doing is a long time and I'm pretty good at it You know, and I'm not the best there is but I know what I'm doing and sometimes I do better than I should Sometimes I do worse than I should but when it all comes together. I try to get it right Let's take a look at it. This is the Dow Jonesy mini I showed this before but when you see this once folks, you're gonna see it again and again Whether it's the Japanese yen whether it's soybeans wheat whatever it happens to be when you see it the first time You're gonna see it again. There's your first three eight to retracement right here That was on the longer term daily. That was the one that came in late Monday night There was the next one here, okay? There was the one right here, okay? Then we had another one right here and then it went off the charts. It's doubled in price This thing went from a high finally was forty six forty eight. It hit 34,800 I believe Yeah, 34,800. Yes, 34,800 and so that's what it's done so far now It's you know, whether this is eight weeks up. We see it in the Transportation's we see it in the S&P. I don't know but you know what else? Nobody else does either that's the key you got to figure out how much you're gonna risk on a trade And if you can do that the rest of it is a piece of cake. It really is That's really what it's all about. I wanted to show you one other thing here today on today's action Let's get this out. This was uh, this was the e-mini S&P. I want to get this here You'll be able to see it. I don't have the things marked But you'll be able to see it because you've heard me talk about this so often that it'll come second nature to you There was right before the report Okay, boom There's your 382 retracement And then we make a high Then we came down and then we come up and we make a little 382 It's actually got up above the 50% right now But this low right here this low to this high Was exactly 61 folks. That's what these algorithmic people are doing out there, man They know what these numbers are They have to because if you've got a you've got a computer and you put it in say, why is it stopped here? Why is it stopped there? It'll tell you it's it's some of these mathematical numbers or harmonics that we look at And if you're aware what they are you got to be you got to be You got to pay attention to that. Well, you don't have to you know, maybe you treat Hey, john jameson doesn't pay it and it doesn't pay any attention to it and he's really good at it So, you know, of course his his timeframe is months and years Mine's uh, you know days and minutes and hours, but I'm more, you know, I'm more risk averse I will not set with something that You know, I'm not that I don't know exactly where I am in it I mean, I've been doing this long enough So I know that if I follow what I'm supposed to be doing and not get too far away from it I'm going to be okay But if I get away from it and I start having an opinion like I did on tuesday I was so various tuesday and the market with that big range up and then the pullback of the 3a2 And then it made the mistake of last night. I had a perfect pattern in that nasdaq 135 pattern. So I said, okay, we'll try the s and the dow Jones one more time And we're going to risk 500 points 500 bucks And uh, boy, we got stopped out and that was about half an hour before the report And then the market just exploded went another 200 points higher Would you know, we made really good money on the way down, but we gave some money back And I don't mind that because I was following what I was supposed to be doing. I was just wrong You know that I was just wrong And so when I'm wrong, I just try to stand aside You know, I mean we made some nice money in corn on the upside nice money and beans on the upside Really good money on corn on the upside And also gold on the upside, okay And uh, you know, we gave a little bit back in crude oil about a buck 30 But you know, that's the name of the game boys and girls. Hey, let's take a break eight seven seven nine two seven six six four eight 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? 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Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years A frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded tfnn over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the market's open to give you the competitive informational edge you need to succeed These newsletters are packed full of tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio Get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free With our money back guarantee at tfnn.com tfnn educating investors Biotech is booming But for how long whether you think the biotech bull has room to run or has run its course trade You or labd Directions daily s and p biotech three times bull and bear etfs Visit direction investments.com slash biotech today An investor should consider the investment objectives risks charges and expenses of the direction chairs carefully before investing The prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus Please contact direction shares at eight six six four seven six seven five two three The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principle the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services llc This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Okay, folks. I posted the chart for the live hogs and I think I've lost it. Don't tell me that Nope, I think no, that's not it Here it is right here. Stay with me folks This is one that you talk about things that drive you crazy Okay, here is the live hard market. All right. Let me see here Okay, we were looking for this big apcd come down here at around 75 it came in at 73 and change We took a loss on that day right here the next day We're going to buy it if it opened lower and it left this gap And I don't chase it. It left a gap here and it left a gap there Well, that tells you it wanted to go higher here was a 61 retracement It backs off for three or four days and then away it goes This was a $6,000 moving hogs folks with about a $300 risk Unfortunately, they got us at $300 and I never re-entered I never re-entered the trade. I've got to figure out a way to chase. I don't chase it But I you know to enter and just buy it and put a stop in that's what I've really got to do Because when you see these markets that are jumping around this much It it's really a lot of money and this is going to get you think these markets are going up fast When the only way is up the only way is down our friend Mr. Jamison rec quotes that all the time. So what goes up will come down With the exception of few things like bitcoin taxes And prices of agricultural commodities Okay, now let's move on and I want to talk about something that We haven't talked about here for a long time And that is the wheat all I have to do is to find the chart again I've got so many charts up here folks that It's going to be really and here it is right here Okay, here's one right here now. Here's one that worked out pretty good We were able to buy the wheat down there at six dollars and ten cents the low was 609 Right down here. It's a perfect a bcd as you can see We had a nice rally here of around 70 cents It was 50 of that move right here. It didn't make the 382 of this move and now we're backing off You see that that's really and I'll remember this is going to be really important because this is a weekly That means it's come down four weeks now. So we're a month down into this And we've got to come in and put up the daily to take a look at it That's what I will do tonight when I get ready to prepare the video for a potential Buy in the wheat market now. Why am I going to buy wheat as opposed to the corn? Take a look at the chart the corn made a new high a new low Okay, wheat has held above the 78 percent level and corn We just pointed out a 382 rally in corn. It's already dropped three cents from that level So, you know that 382 is a pretty powerful thing The problem is it only works about 62 of the time But that's no big deal because most baseball players hit 620. I can't believe they pay these guys 20 30 million dollars and he's betting 236 245 You know, you see a 300 hitter. Oh my gosh It's almost like a flash that they have to, you know, give the guy's life story for heaven's sakes You know, just amazing. Why don't they find somebody like Joe DiMaggio? Joe DiMaggio, he had sure he had this great hitting streak of 56 straight games But his his biggest thing folks The average person that swings the baseball bat and hits home runs in the major leagues for every strike out He hits one home run. Do you know what the ratio of this 392 home runs that DiMaggio hit in his 14 years He struck out 391 times one to one folks Every time he struck out he hit a home run to match it up Not striking out six times maze hit 665 home runs when he and half of those were at the at the polo grounds were the You know, it was 500 feet So, uh, but trouble problem was he only batted 300 and he he struck out six times for every home run that he hit So it doesn't make any difference. The thing you got to remember is you can make money like pete rose He he became a multi-multi-millionaire in a superstar just by hitting singles and doubles And that's why charlie hustle was such a Uh, you know, great baseball player unfortunately got into gambling that really screwed him up But that's either here to there. He still should be in the i'm not going to get into the baseball stuff I still think he should be in the uh Hold on one second in the baseball hall of fame But we'll we'll have to worry about that. I want to share something with you now I'm on a maverick on this one, but I uh, I just I love these patterns so much that I get involved with them Maybe a little too much. I've been showing this thing here for a couple of months Well, wait, it's more than that this last thing this was done was the end of End of april right before the first of may and of course we had the big run up from this level Now all this is going to show you I someday i'm going to try to get this thing updated But I don't remember who gave it to me I put I put the lines in like this, but this is going over a long period of time. But look This is where you see what we've done in may and june. We had this huge run up So we went even a much much higher than this So this is the seventh of the magnificent seven is what it is. Okay down here is that is the s and p Now the s and p's moved up to a 78 percent retracement now, but that's what we're watching here It's got to pay attention to this because when these things turn over and the fact that the nasdaq could knock out the june high Okay by 10 15 points and then reversed by 60 points. Maybe means nothing. I don't know But there was no buying up there Why wasn't there any new buying as the market broke into new high ground? And then not only that but the fact that it's if it closes lower in the nasdaq today That would be a real suspicious thing You know to pay close attention to all right Okay main main point here to remind ourselves of that Keep keep your eyes on these markets because when they're strong trending up They will be strong trending down And that's the whole key to what we're paying really close attention to folks That's the same thing that we had here in this japanese yen That we pointed out earlier last week on the what's today the 12th. It was monday get it up here Wow, where does the time go? Yeah, it was a 10th. It was monday Shut the front door and raise the rent Okay, there it is right there. Okay, and then down. Oh, by the way folks I will not be here on july 19th. Okay. I am going to a birthday party My baby sister is going to be 80 years old and i'm going to surprise her So don't tell her she lives in kalamazoo michigan. So don't tell her her maiden name is schwarz So if you can find a carla schwarz in kalamazoo michigan go for it Anyway, that's what i'm going to be doing. It's going to be fun. It's at the old italian restaurant This is a knockoff of the the original one. It's run by one of my cousins and i'm going to be the waiter I'm going to come out and take her order and she's going to she's going to be really surprised I talked to her five days a week have from a whole life I haven't seen her since covid so it's been four years and so i'm looking forward to Seeing her and having a lot of Folks that woman is as close to mother teresa that ever walked the earth She was a surgical nurse and after she retired Six or seven years ago for those years she was she would go back and give her old buddies there the ladies there She would fix their hair and help them get Bads and stuff like that just on her own time because she she liked to give back to What the hospital had given her so she's just Mother teresa. Oh my gosh, and here she is married to willy satan or whatever his name is No, her brother is willy satan. Michael is a pretty good guy. All right. Let's take a break here I think we got a Break coming up here in just a few few more seconds. I'll remind ourselves tomorrow We got stan harley always got some great stuff And remember he was talking to us about the 15th of july coming up as I recall So stan will be our guest tomorrow and then on friday. We have the wizard witski wizard witski From labels florida astro trends. We'll be right back If you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter You should try tom. Yo brian delivers options and equity trades when the markets present them using a combination of fundamentals and Technicles 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 start your subscription today visit the front page of tfnn.com tfnn educating investors 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? 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That's tfnn.com and hit watch tiger tv Okay, folks two charts. This is the one from last friday Uh, this is what we were looking for. We had a break and we broke 80 handles And then of course we exploded to the upside and the reason why we exploded to the upside Is the next chart and this is the one that you should really respect because I think Whenever you see a perfect a bcd like this And you like a bcds and it's on a weekly chart and it's coming in You know right at the 78 percent level up here at 45 25 the high being 45 24 and a half so far maybe a close at 4 45 30. I don't know but anyway, that's what it's done So far today. We have to pay very very close attention to that Remember the nasdaq took out the highs of june 6 and has dropped 60 handles Okay, that's not really good market action Second thing that dow jones has been struggling all day. It's still up on the day But just barely up 100 and so is up almost 300 at one time So some of these markets are getting into a little bit of Areas where they could have some pretty significant corrections. Remember The nasdaq is got the the magnificent seven in there the ones that are going crazy. But even then, you know Tesla was up sharply today for a while. So was microsoft So was apple, but they were far far below the highs that they had made last week So maybe that's a sign that the market's getting a little bit tired The s&p and the russell led everything up today So that might always be the case But we try to watch everything as we do here all the time Also, we're keeping a very close eye on that treasury bond market because if that fed comes in They've got a lot of assets on their battle sheet that they're going to have to get rid of and I just wonder Who they're going to buy it from or sell it to if you remember trading's places He says get back in there get back in there fill our orders And he said sell sell sell and the broker said to who to who So you got to be careful that for whatever whatever goes up Usually comes down. So we'll see on the flip side tomorrow folks Live every day in an attitude of gratitude and may god bless