 as a presentation of TFNN. The Tom O'Brien Show is produced every business day. Tom takes your phone calls toll-free at 1-877-927-6648. Internationally at 727-873-7618. Let's go to Alan Homassasa. Hey, Al, what's going on? Isn't it wonderful? This gentleman here with the gold report right before the market fell apart ended up with P-A-A-S. We have a 98% gain in the year. And, I mean, we want 99% proof like Irish whiskey, but we had a good gain there. You always told us to do what we feel comfortable with. And if I lose a little bit of money on the table, I will, but I know that I just pocketed $8,000 or $9,000 in two weeks. That's a beautiful thing, man. Now, Tom O'Brien. Okay, folks, this is Larry Passeveno setting in for the master himself, Tom O'Brien. I'm gonna share with you, this is the Berkshire Hathaway Holdings, folks. Someone shared this graph with me this morning, and I just couldn't believe it, that 41% of Mr. Buffett's holdings are in Apple. I mean, I know this is a couple months behind because, you know, they have a lead time on these things, but that to me was really, really shocking. I always think it would maybe 10 or 12% at the most, but the fact that he was so heavily, hey, and it's been going up, you can't knock the master himself, but that's the main thing. The reason why I wanted to see that chart or to show it to you was because we are setting over what we think could be one of the very best buying opportunities we've had in Apple in a very long time. I wanna bring this up to you right now. You'll be able to see the long-term chart going over the last year and a half, and there we are. We're coming right into the 78% level down here. You can see just a tiny bit lower than where we are right now, probably around 35, I believe, some right now at Ballpark, and that should happen, I would think, either Monday or Tuesday. And the reason why we say Monday or Tuesday is we've been watching the market unfold in a various pattern for quite some time. I think what we'll do now is just go up and take a look at the E-mini S&P over the past, this is a daily chart, of course. This is over the past six months, and I just wanna show you that this is not a surprise, being down 20% because the market has been telegraphing for a long time that it wants to go lower. You'll notice that we had this really strong rally up here into the 61% retracement here. In March, we came down, and each one of the rallies, folks, stopped at a 382 retracement. And when you see that, it's very, very bearish, and now what we've done is we've taken out these lows right here, which is what we should have done, because what we did is we do time counts and compare it to other cycles. And what we're watching is the cycle from the May 4th high, which was right here. If you go out, let's try it again, Larry, let's do it right here. From this number of days out, if you go out 22 days, that takes us in to the 22nd of May or the 23rd of May. Now, maybe it's gonna be a bottom, maybe the bottom was today, I don't know. All I know is this is a very, very important area in time and price, and it means something, and it's very significant. Early this week on Wednesday, we had the market was down 1200 points, folks. We hadn't seen a 1200 point down move in the Dow Jones for a very, very long time, and that was a bit of a surprise. However, on that day, I'm gonna bring it up to you, those of you that own the Floor Traders Handbook, you'll be able to see what we follow is standard deviations. And that's standard deviation from the mean, and when they get past one standard deviation, there's problems. And notice we made a beautiful, perfect standard deviation, and what did we do? We rallied up to a 382 retracement of the high right here, over a three-day period. That came in at 3950 last night, and our load today was 3820. So I think, I don't know where we're closing because we've got another hour to go yet, but somewhere in this ballpark, it's gonna be a real stand on this, because if we start going closing below one standard deviation, this is where the option traders come in and they have to protect their positions, because if they get much lower, they have to begin covering, and that means they gotta start selling, and that's when the down move can really, really accelerate to the downside. But remember, we've been going down for quite some time. The NASDAQ is down well over 30%, I believe, during this time, and about 20% in the S&P, and I think it's about 19% in the Dow Jones Industrial Average. But you know, we've been going down, this is not a surprise, we see it every day. Anytime you see the Dow down 1200 points, you ought to pay attention to that. Now, the prediction that I made, and I thought it was gonna happen either today, Monday or Tuesday, I believe that we're going to see a down move in the Dow Jones of 2000 points in one day. Why do I say that? Well, the biggest down move we've had thus far has been 1200 points. If you multiply that times 1.618, that gets you out to 2000 points, and that's where you get to the price level that we're looking at, if possibly going down 2000 points, get us down to around 28,000, I believe, in the Dow Jones. And the number in the, we'll get the number here in the E-mini S&P here, we'll just bring it up here. See how close we are to what I think could be a really interesting bottom here. Folks, if you like ABCD and you like Fibonacci numbers, take a look at this weekly chart. I'm gonna describe it to the folks that are not on the air that are driving in their cars. And you'll notice here, this was the, the COVID low was right back here. There we came into March 27th, the market dropped that much from the high, that was a previous high. And from then on, all we did was continue to go higher for the next year and a half. Now what we've done is we're making an ABCD pattern on the weekly chart in the S&P at 37 and change. Okay, we're 38 and change right now. That means that we come in here Monday and we don't break below that 3,800 level, which is at 37,000, let's try it again Larry, 3760, that is going to be a really good buying opportunity. And why do I say that? Two factors. If you look at the AB leg, all right, the AB leg came down eight weeks, rallied up five weeks. And now we're in the eighth week coming in Monday morning on the 13th of May, 23rd of May. So the date that we're looking at is the 23rd to the 24th of May at this level. Now there's a caveat here. If we are sharply lower than 3700 on Monday, then we're going to go down all the way down to here. And that is a big drop folks. That could be a really big one. This has been one of the most orderly bear markets that we've seen in quite a bit of time. This one with COVID was not orderly. That was just straight down. They took no prisoners back in here. But here, look what we've done to some of these stocks from this level right here, folks back in January. I mean, you know, Peloton, I mean, oh my gosh, you could, Robin Hood, Ark, I mean, there's so many of them. You can just write a book, Netflix. Oh my God, Netflix from 700 to 160, you know, Facebook, you know, dropping a lot, $207, no, more than that. So anyway, these are huge moves. And I think they're very representative of what we've got going, you know, in the market. Now something unusual happened this past few weeks here. Let's get this up here. This is an historic chart. Hey, let's take a break. 877-927-663. With booming inflation, we are purchasing powers eroded. There's no better place to protect the harder and money-thinning gold. This, the gold flagship asset, is the Monk Todd Gold Project in the Northern Territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world-class gold project in a tier one mining district. This is a large-scale, low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction. This, the gold just completed the Monk Todd Feasibility Study, which resulted in a 7 million-ounce gold reserve in a 16-year mine life. All of this combined with the approvals of all major operational, as well as environmental permits. This distinguishes Monk Todd as an attractive, diverse partner, ready-development stage gold project. This, the gold trades on the New York Stock Exchange under the symbol VGZ. 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. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from veteran day trader Larry Pesavento on stocks you need to pay attention to and you can trust Larry's analysis. After all, he's got 45 years' experience as a day trader. Larry will also provide daily charts, videos and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com, educating investors. Free at 1-877-927-6648, internationally at 727-873-7618. We're back folks, Larry Pesavento setting in for Tom. Well, Brian Tom will be back with you on Monday. As you're looking at this graph that I have up here, it shows the number of times that S&P has moved more than 1% in a day. And this is historic folks, you can see it's only happened like four times in the last hundred years. So this is a lot of selling coming in but the market has held up really well. This is not a crash type bottom like we had in 2000 or 2008 or 2009, it's very, very orderly. And the fact that it's sitting right here at the 382 retracement and it's taken since January to get here. If you would have just pushed this chart up and not tell me whatever it was, I would have to go in Monday buying it blindly I think but we don't have to do blindly here. We can make a few decisions on our own. So we want to watch this level of 3760. That's the real key level to watch Sunday night. Anything below 3760 on Sunday night or early Monday morning would tell us we're probably going to go a lot farther and very, very quickly also. We have not had a situation where fear has hit the market. Even with a 1200 point down move, it was nonchalantly taken by CNBC and by Bloomberg, both. That was just basically, oh yes, it's a big correction but we've seen these before. And yeah, that's true. Maybe it's going to take a $2,000 down move to shake him up a little bit but we're very, very oversold and the market long-term is bullish as you can see from that S&P chart. Even the NASDAQ is still bullish as massacred it is has been and we're very close to these ABCDs. In my newsletter, trade what you see, I put these in for the NASDAQ, the S&P, the Dow Jones and the Russell each week so you can see which ones are leading the market and that's what we're trying to do is to find a good place. Frankly, I've been bearish for a long time folks as those of you that follow my newsletter actually ever since January 4th when we made the big ABCD up there and especially since May the 5th. May the 5th to us folks was something that was very, very historic because of the fact that the market how it was reacting within the eclipse of the 28th of April rallying eight days into the 5th of May and historically that says with only had eight samples but all eight of them worked that the market went down taking out that low just every single time and so that's why it looked very, very interesting to us but each of the rallies and I bring it to your attention because we follow Fibonacci numbers all the time that trade what you see and it's not what you think it's not what you think, it's how you think you'll notice here that each of these rallies after you see the first 382 retracement you have to start to expand the second one. Look, look, four days to make a 382 retracement four days to make a 382 retracement two days to make, well, four days to make a 382 retracement here. This is telling us folks that this is something that is very, very important and that one we had on Wednesday folks we were at 4095. You know, we've dropped 400, 300, 500 point, 400, 450 points in three days Wednesday, Thursday, Friday and that's a big move down and so it's going to be really interesting how this market comes in on Sunday night and oh, it looks like, do we have a caller coming in? Oh, it's Tom in line he's got a lot more phone lines coming in so we have someone calling in for Mr. O'Brien I hope he's not too disappointed George from Massachusetts what can we help you with my friend? Uh-oh, George, are you there? Well, I had George for a minute and then it was disconnected I don't know, he realized it wasn't Tommy and he probably got disappointed what I'll do if he's listening I'll give you my two cents worth George on gold I was one of the things I wanted to cover here today so I think that we're still in a bear market in the gold market I believe my objective on this gold is if we can get gold down to the 1712 area in the next, we're not very far away that's only about 80, well about a hundred bucks and remember, we dropped a hundred dollars here we've been bearish this whole way just like we were in the S&P each of these rallies were very, very sparse and then we finally had the big ABCD over a three day period yesterday up here at 1846 and now we back down below that 1830 level that tells us that that ABCD is going to be down a lot lower I am extremely bullish gold long-term folks but what we'd like to see is a big washout the same thing, I don't do much in cryptocurrencies but I've been watching it very, very closely because I think that is going to be something that's going to be important it cannot be a bubble folks bubbles don't last 12 years bubbles last, they go up and they go down and it's all over and everybody forgets this thing has got legs and under that they got to a $3 trillion evaluation when Bitcoin was 67,000, now it's 28,000 and we believe that it's going to 10,000 and all that is folks during the life of Bitcoin going back 12 years it's had four 80% corrections this would be the fifth one and so that's why it's going to be really interesting to watch Bitcoin if we do get to that 10,000 level because it could offer some fabulous opportunities for folks that are looking for something a little different in their portfolio I know very little about them all I know is there's some pretty smart people that believe in them and there's some pretty smart people that think it's a cannon fodder do and what I was going to be right but right now the market is saying that the Bitcoin or blockchain scientific stuff is here to stay and that's what we'll be looking at now let's get back to see where is this money going that we have coming into the market and this course is one of the largest markets in the world is the treasury bond market and we've been bearish this for well over a year and a half when they started talking to us about how important it was for negative interest rates you know folks I never did take a bite out of that apple because the bonds were up at 171 now we got all the way down to 135 and they're still trying to tell us that it's negative interest rates not so but you can notice here on this daily chart we do have the very first significant A, B, C, D pattern forming up here in the treasury bonds up around this 144 level we're trading 142 right now with any more weakness in the stock market you know you're going to see this hit probably Monday or Tuesday and if it gets really crazy you know you could get all the way up into this area here of 146 or maybe even 150 if it gets really crazy because people use the bonds as a flight to quality which is like you know throwing gasoline to try to put out a fire but that's neither here to there it's my opinion that the Federal Reserve is between a rock and a hard place the things they've done over the past two and a half years or 10 years whatever it happens to be with quantitative easing are coming home to Roosnow and I'm going to show you some charts when we get back from the break from our good friend Stan Harley the Harley stock market letter explaining you know what has happened and why we're seeing this huge moves in some of these markets and Stan has been bullish for quite some time he turned various about a month ago and you can see that we've had a pretty good correction here but we'll share Stan's charts with you when we get back from the break so if you do have any questions 877-927-6648 I'll be happy to answer them for you if I can and then we'll 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This segment is brought to you by Think or Swim For more information, just click the Think or Swim banner on the front page of TFNN.com Okay, we're back, folks This is Larry Pesevito setting in for Tom O'Brien Today, Tom will be back with you on Monday This next chart comes from Stan Harley of the Harley Stock Market Letters I've known Stan for just about $50 a month He's been in this business for 40 years He's a perennial award winner as far as timers of the year and what he's showing here is a long-term picture in the S&P 500 and he feels very confident that we have made a major top here into January 22nd of this year The actual high came in on January 4th with the S&P trading at $4800 We are now trading 1200 handles lower than that which is roughly 20% and so we should be due for some type of a rally from this level Now, this next chart is part of what Stan does so extremely well and that is, he looks at cycles and if you'll notice here he's recognized that we've had the big sell-off but as you can see now, we're at an area now where we should be getting ready to have a bounce This is the bounce that we're looking at that I'm looking at coming in next week sometime between the 22nd which will be Sunday night going into all next week but the key figure there is below $3700 in the S&P would tell us that we'll be going down a whole lot lower Stan's projection here this happens to be the Dow Jones and he believes sometime in the fall the Dow is going to hit $28000 well, it's trading at around $30,000 something right now $30,000, $9000, something like that $30,700 that is not very far away folks, a couple thousand points and you could be there and as I mentioned earlier the first drop that we had was 1200 points in the Dow you multiply that times 1.618 and that's where you get to that point 1.618 comes from folks goes back to 1987 I was on the show with Bill Griffith and Sue Herrera Ron and Sana at the old KWHY at FNN Financial News Network I was a regular there because I had called the top of the stock market on August 25th of 87 and I told Bill on the air that sometime during the month of October 1987 of more than 300 points and Bill said how do you come up with that figure and I said well the previous biggest drop that we had in the Dow was at 191 points so if you multiply 1.618 times 190 you're going to get right at 310 and the market of course was down 555 points that day with the base of 26,000 folks so that was a 16% drop in one day the best buying opportunity of the 1980s and boy let me tell you folks there were 1600 issues on the New York Stock Exchange that day folks only 13 of those issues were up and historically if you would have looked at those 13 issues what they did after that time frame you'd be really surprised at how bullish they really were stop and think just for a moment the stock market is down 16% on our basis today on 3500 points in the Dow and you had stocks that you wanted to buy and they were up that day with everything else being lower someone is willing to come in and buy they know something you don't know and that's exactly what happened to those 13 stocks they really went a whole lot higher so we're going to have some fireworks here I think this next coming week keep our heads above water here and I think we're going to be okay because volatility is increasing and the other thing folks is the VIX index isn't going crazy you know back in in 2009 the VIX hit 80 and in 2000 it hit I think about 75 or something so here it is it hasn't even hit 40 but one time so this is not panic stuff so nobody is panicking yet they might soon come in here but right now it just doesn't appear it looks like a normal correction that could lead to a very good buying opportunity this next one is one of my favorites because it really depicts what I've been saying for a very long time and this is about the interest rate structure folks this is the bull market in the treasury bonds it started way back in 1980 folks and it continued continued on until it was actually two years now since we topped in the bonds and now we're looking at higher interest rates coming in to the market and they're moving very very quickly Stan was really kind to show us this one on mortgage rates and I was really surprised to see what's going on with mortgage rates because I'm certainly not involved in that market at all but you can see rates have gone from roughly 1% to 5.5% in just about 6 or 7 months that is not good for the housing market folks because that means your mortgage cost is going to be quite high and people can't afford to buy them that they could at 2.5% that's a very negative in itself so remind yourself if you've got a chance if you were interested in selling your house now now is the time I'd like to give you a little bit of a history of Hong Kong folks this is a parking spot in a garage in Hong Kong just like your normal one car garage in Hong Kong sells for $50,000 that doesn't come with any utilities that's just the parking spot for the car and it's a minimum of $50,000 and if you're in an area where it's extremely extremely expensive like up on Victoria Peak or up above the jockey club there in Hong Kong for $50,000 for a parking space so this gives you an idea how out of sight prices are it's cost per square foot there folks you can't even fathom how much 1,000 square foot one bedroom apartment in a really nice building not super nice but a nice building is going to cost you well over a million dollars are you kidding me I don't understand it but I will tell you this on a family situation both of my daughters when they got married I got them started in starter houses and that's been about oh 15 or 20 years ago and each of their houses is worth over a million dollars and I said could I get my money back out of that and they said gee we don't remember that dad folks now one's in California and one's in Denver they do live in beautiful areas there's no question about that but some of these things are really crazy now let's just talk since we're talking about home prices Stan brought this chart up which is the case Schiller index and he believes that we're going to be topping in this in the next 6 to 12 months and that's in this area right here what he's watching for is to see the blue line cross under the red line where we had the little bear market just a few years ago he's watching for that to turn down and then he thinks we're going to be down for several years maybe 8 to 10 years as what he mentioned he couldn't give an exact time because timing is not his patterns or what he's looking at so he just knows if that does happen then that's going to be the signal that we're probably topping in some of these areas we've seen prices in some of these areas because of COVID it's going to go to the upside and this is what's been happening pretty much worldwide London is the same Hong Kong is the same Dubai is one of the best places to buy a house and then their prices are going up 200% so it's going to be interesting when we get back from the next break I want to talk to you about food folks because that's one of my things that I watch in my commodities and we're going to get talking about food we'll be right back folks are you in the market for buying or selling real estate in the Bay Area including the surrounding St. Petersburg Tampa and Clearwater markets Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property Tiger Realty has the experience across all areas of real estate in the Tampa Bay Area buyers and sellers make the most informed decisions across all price levels from the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating Tiger Real Estate can help you make the best decision when it comes to all areas of the market before you make one of the biggest decisions of your financial future call Tiger Real Estate LLC today at 727-329-8322 or email us at Tiger at tfnn.com that's 727-329-8322 call us today the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information David White's investment newsletter the technology insider is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future David White has made his living staying on the cutting edge of technology this weekly newsletter will give you specific recommendations for valued tech stocks as well as entry prices, target prices and stops to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week you can get the technology insider at tfnn.com for only $37.50 sign up for Dave's newsletter the technology insider and get an 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services LLC call now toll free at 1-877-927-6648 internationally at 727-873-7618 I'm O'Brien okay we're back folks this is Larry Pesavento setting in for Tom O'Brien today I wanted to switch gears here a little bit we'll get back to the stock market in just a moment and I've just heard that this had a nice 350 point the rally in the Dow Jones here on the close which I'm certainly glad to see now if you'll notice hold on one second if you'll notice this is the price of wheat we made an all-time contract high here just a few days ago and you can see here we've dropped over a dollar and a half a bushel the real key here is you'll notice the market rallied up to exactly a 382 up here at 1220 a bushel and is now broken down quite below the $12 bushel level getting ready to go even lower we're starting to see some break in the inflation in the corn wheat and soybeans and certainly in cattle and hogs but that could change at any moment and things could go back the other way longer term the inflation picture is still here because interest rates are going to go higher and believe me folks what they're telling you in the news is not what really is happening this is not about demand folks it's about supply and we're going to find out whether it's a demand market or not because with these crops coming in and they're being planted right now starting to grow with soybeans, wheat and corn they better come in with bumper crops this year because if they don't and if they don't then you're going to be looking at something that is going to be pretty ominous as far as food stuffs back in 1970 1976-77 through 1980 when prices were going crazy with inflation and Jimmy Carter brought in Paul Volcker to stop it and he started it by increasing interest rates you know by quite a bit and that continued on until 1982 and then rates started to drop but what we want to remember is that once these things start and if we have any problem with our crops we export so much it's going to bring famine in other parts of the world and famine is what starts wars so we've got to be very very careful that or pray that we get the very best of crops this coming year we had great crops this year and we need another crop this year and that's important now the reason why I'm happy to see that we're having a rally here in stocks here on the close it was by the first chart one of the first ones that I showed today was the standard deviation and we went down and we took out this low by just a little bit which means there were just stops there and we've rallied 80 handles into the close here that's exactly what we wanted to see that gives the options players the option writers of course some breathing room coming in to Sunday night and Monday that doesn't mean it's out of the woods yet it just means that they don't have to do any panic selling on the close here or else on Sunday morning or Sunday night either one of those but these markets are very very volatile they're responding to the news that we've ever seen before and they go through the same fake news scenario that we see and everything else can't do anything about that folks that's something we have to live with and that's nothing more or nothing less what we have to do so let's keep in mind that that's it now there's only a little bit more time left about 10 or 15 minutes I want to talk to you one more time about Apple because this is a big part of the stock market it's the most widely held stock in the world so pay attention to this this is a pattern I'll be on the show showing this pattern also you're right down in this area here look how many weeks in a row we're down folks this is a big move down we're down I think 8 weeks in a row in an Apple look at this one here this one was down 10 weeks in a row so let's keep in mind that we have some really important spots coming up here in the Apple so let's pay attention to it as we come into it sorry folks that's not a it is a daily chart not a weekly chart but this we've been down actually for 8 weeks since this high back in here when we make the A, B, C, D look what happened when we hit the 50% level folks we had an A, B, C, D right there at the 50% level and the market went up and rallied up to 90% of its high that was a 30-buck move that's a big move in Apple more than 15% so we got some big things happening but I am very happy to hear that the market is holding up above that low at least it was 5-10 minutes ago we'll see if it's going to continue to do that and it looks like it certainly has believe it or not folks the Dow Jones E-mini today just a few minutes ago at 31,200 a 61% retracement of the whole move today and the E-mini S&P made a 61% retracement at 36,93 folks it rallied 93 handles folks in 2 hours if you think that's not volatility you better pay attention because it's coming and it's not going to get any better it's going to get better for people like pattern recognition swing trading but that's neither here that's what I love to see I wish I could even watch it this last few minutes I don't get a chance because when I'm on the air here I'm prevented from watching well personally preventing him because I don't want to affect my thinking at all but the beepers went off to tell me that we made 61% retracements in just 2 hours which was really quite exciting to see what's going on here now someone's asked a question about one of our stocks that we talk about here this is we're going to bring it up here which is it's Netflix and we'll just get this up here now if you'll remember here folks as you can see here back here in round Thanksgiving right around November you can see the big ABCD pattern that was completing right up here going way back here there's your ABCD pattern right around 700 now we went below 150 I believe this week but stop and think folks some people are still in Netflix at 5, 10 and 15 dollars so even that they're still making 10 times their money but look how much they gave back from 700 that's not a fun feeling but look how the 382 retracement showed you that the market was heading down 382 382 382 so it's a big indicator as watch how that is happening and we saw that both during the month of May here in the S&P 500 I'm going to bring it up here to show you that this was the same thing that was happening in the S&P that happened with Netflix the thing was that it wasn't as volatile as the Netflix was it didn't drop 80% but it was still dropping making 382 retracements all along the way and that's what we're paying very very close attention to so let's remind ourselves now we got a little break up here I'm going to check out what the market's doing right now we're still hanging in there with a really good rally here we got the I think we have the the S&P I believe is up on the day again and I believe the Nasdaq is the Dow is down just slightly and what else not much else is going on from what I can gather just by taking a quick snapshot of the S&P and the Dow E-mini gold on the other hand and let's see where we're doing in the gold market it is actually holding up at 1842 so that's still pretty close to the high that we made here at 1846 it looks okay and those are some of the ones that we're paying very very close attention to today we're also short the Euro that's been acting incredibly well the last couple of days we went up and made a big 382 retracement in the Euro just like we did the Dow Jones and the S&P and then we started to go lower I'll show the Euro chart next that'll be the next one that we show folks sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at TFNN you'll get advice and guidance from the authority in technical market analysis not just dry, tedious text either TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV live every market day from 830am to 4pm eastern 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they don't like to do that near the lows so that's what option selling is all about learn to be an option seller not to be an option buyer if you're a seller of options you're 85% assured of winning and if you're a buyer of options you're 15% sure of winning so let's remind ourselves of that doesn't change the cyclical in nature of what's going on here with our lows that we're focusing for for the 23rd, 24th, 25th we think we're gonna have a big move down may or may not happen maybe today was the low we did make a slightly lower low in the Dow slightly lower low in the S&P NASDAQ held up relatively well so these are things that we'll be watching Sunday night when we prepare our trading you know for the next day let's remind ourselves folks it's not how much money you make it's how much money you don't lose losers think how much money I can win but winners think how much money I can lose because what they can do is to protect themselves by managing their risk and that's what speculation is about folks it's not about how many trades you're making a row and when it's how many trades you don't lose like Warren Buffett has two rules one, don't take losing trades rule number two don't break rule number one well you're gonna have to take some risk of course but try to manage it you know the best that you can and you'll be far better off than what we're looking at so we did make have a wonderful weekend folks and may god bless