 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. Hi, everyone. On this Tuesday, the 3rd of May, we're looking at the Dow at 10.06am Eastern Time. This is going to be really interesting because the Dow is up 4 and you would expect on a day prior to Fed Speak Day that there'd be some shakiness, and there is. But here's what's really interesting. If you look at the patterns that I love to discuss and I'm going to do this now, I'll do this as we do all the analysis as we're looking at, let me just get this, as we're getting the updates, let me just do this. So we've got so many new people here at TFNN listening from around the world and joining the Dan and here in the Tiger YouTube. Just basically what I'm looking at is, let me just see, was that a message for me? I don't see the caller, call it right away. I'm not used to that. Let me go to the caller we've got. I'm going to go to the caller right now and see if I can just check this out. Yes, we've got, I'm going to say, John in fully. Hi, John, how are you? That was a lot I'm doing very well. Thank you for taking this early call. Sorry to disrupt your typical format to start your program, but I wanted to ask you please about gold. Okay, let me just do this. I'm going to put it up. Thank you. If you don't mind, just for a moment, I've got the continuous contract up. I know that you like to look at specific months, but as you're doing that, let me just preface our conversation by sharing this. Gold, of course, made overnight low at 1350 watts. 13 at the 1851 took out yesterday's 1853 low, rejected that, reversed out up just as a very short-term trader that I always call that a potential bear trap to a bottom. Full disclosure, gold topped back on what was it, Monday, April 18th, two weeks ago. It topped it at 2003. That was an exact FIB 618 test of a prior high. And it was also a full moon weekend, so there was a lunar cycle there. And it fell hard, 150 bucks. I confess I was wrong in thinking that type of decline was unlikely, but it has occurred. So now going forward, we've had this $150 drop, and we've had it going into FOMC time. I just will share with you, Basil and your listeners, over the past 30 years in trading COMEX futures, I have seen numerous occasions in which the gold price has dropped into and ahead of an FOMC meeting only to bottom and surge back higher, regardless of what the FOMC actually did or said. So I've seen that before, so I'm always cognizant in thinking about the present time of that happening here and now. So I'm not forecasting that, but I've seen that sort of thing. So with all that as background, I was doing some pro-buying three, four hours ago, and I've got a little bit of a lead. And if I have enough of a lead, I'll probably hold it through that meeting. But what I wanted to ask you with all that background, Basil, your chart work, your tools, your indicators, can you envision COMEX gold making an important bottom right here? So the preamble that you've got towards the end question, which is, what happens next? I like that very much. I'm just going to ask you, the gold in a sense has a little bit of a tradition of doing whatever the yields are suggesting, at least on a short-tune basis. There is some reciprocity, sometimes it's a counterpoint, sometimes it's together. But I've also noticed that in looking at the bigger picture, if you were to overlay the yields and you overlay gold, I like to think of the, I call them dolly, vixie, bondy, and goldy. For the last six to eight months, I've said, let's try to separate these things. And I even included oily, which is crude oil. Even though in the main, the commodities have been kind of in a trajectory together. I'm trying to think of all these things as little units that are themselves complete. And if they connect to anything else, that's fine. I'm going to do the same thing here because if you look at the gold chart, the most important thing for me, and I'm going to expand this weekly chart, that's the one in the middle, right here now, it's the full page. You'll see it's got a beautiful cup formation and it went from the high. I'm talking about the continuous contract, which is trading now within less than a dollar of the actual contract itself. So we're looking at from the August high of 2020. And once again, these prices get smoothed out. So the patent, the names, the lettering and the Chapman Wave, everything is correct, but the price because it gets smoothed out could be moved a little bit. So in this case, I've got 21, 18.3. Maybe next month it'll change, but that is the price I've got now. And if I go to the high that was rated PE in a left side, right side price time match to the bar that was right there. That was the bar of June 2021 at 1993 high. You get to this peak E that was made March of 2022. Now the fulfillment of a big cup formation, it's more like a bowl formation because it's flat-ish, says that if there is a price expansion above the previous left side high and for three bars, it doesn't matter whether you're talking daily, weekly, monthly or two-minute chart, if there is a price appreciation that holds on any pullback after sharply going above the left side high, that's a breakout of significance. If there is a pullback and it goes towards the middle of the, it's now called a channel even though it's a bowl formation, you've got to be careful because you've now set up a situation where you've got to establish a new low. So that's the monthly chart. And all I'm saying is that, so that's the weekly chart. If you look at the weekly chart, to me the most important thing is you can see there's a red trend line up and just above it, that's in the 16th of an inch is a light green. And I call that a chaplain wave inside to track propelling zone. And you can see how many times when it pulled back on the week of the 17th of December, 2021, it held it and a rally to peak ABC, even the C pullback and held it and then ran to D&E and it went to just below that previous high of 2020. But now look what's happened. The Magdeys turned down, the stochastic is very weak at 49% and the nine period is within, I'd say 15 points lower and there's a good chance that the nine period moving average on the weekly chart will cross negative. So I'm going to give you the parameters I'm looking at and then I'm going to discuss the exact, the question that you asked, I will try to answer that. 1832 is absolutely on a weekly basis, critical to hold. I'll be back in a moment, we've got John in fully down to 44, has to do the 7th. We'll be right back looking at gold. 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 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. 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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.com or on TFNN's YouTube channel and become the investor you were born to be. TFNN. Educating investors. Toll Free at 1-877-927-6648. Internationally at 727-873-7618. And John, I'm not sure if you're listening, if you're still lying to me, I'm listening. Okay, I know that you usually like to go back to the trading room and just to continue doing there and listen to what we're saying. And a lot of people are actually funny enough, I even spoke to one of the really tremendous Fibonacci and Elliot Way people that I know, that I've known for many years. He joined TFNN years ago when he took my webinars. He was instrumental in working with a lot of people. It's not his business. He's done something completely different. In fact, he's been retired since he was 50 years old. And he's now about 86, I think he is. And I spoke to him this morning, in fact. And we were chatting. I wanted to see how he was doing. And he spoke about gold. And he's just been an absolute master in his own trading. And he trades gold a lot. So we both concurred that gold should have a tremendous ready coming up sometime, maybe even this summer. But in the meantime, there's some shakiness. So let's just go through this. What we're looking at is within the data, and because a number of people asked, I'll do this before I continue with all the different aspects of the market. Look at the way this 200-period moving average is like a magnet. This is the pinkish-orange line right here. It's stuck. It made a sine wave move above it back in November all the way through the breakout in March. It just went up and over and in, under and over and over. And that whole area of 18, let's call it 1830, was basically your fulcrum to move up and down. And then it broke out to the upside. So the 200-period moving average, especially for gold over the years, I've noticed that it depends on what time frame you're looking at. But once it touches it, either on, look at this, on the way down, it just broke right through it back in June of last year. And then it couldn't break above. See how many times it went right to it and it failed. Fail, fail, fail, fail, fail. Even at a peak D in the Chapman wave, remember the Chapman wave, you're always looking for four higher peaks. Peak D is your objective to go from a bi-signal to a bi-mode. At that point, anything can happen. And then there was this, I call it the double hump of the MACD, where it went twice to the upside in a big arch formation. Then it went to peak F way above the 200-period. But what did it do? It came back. And then it went over and under and over and under and it spiked to the 208-3.30 level. Let's see if that's still the price, 208-3.7 level back in August. This is March the 8th. And then what did it do? It made that A pattern, the Eiffel Tower straight up, straight down, and it came tumbling down. And where did it go to? It didn't go anywhere. It just went sideways. Remember I said the dreaded H pattern? Oh, I was going to do this before. John called I'll do this right now. Three patterns I always look at. Straight line up. Let me just put it over here. Straight line up. Straight line down. Cup formation. Arch formation. Simple. Three patterns. They can get a mix, one and two or one and three. In this case, one and two. The dreaded H, when it takes out the left side low, watch out. It can go quite a bit lower. And the positive Y, reverse Y, when it takes out the left side high, it can go quite a bit higher. What do I always look for in the Chapman Wave? A buy signal goes to buy mode. Meaning it's going to go not just to peak A and B, but it's going to absolutely go to C and D. And D is where other things can happen, but it can also go E, F and G. Never an H. But D's are objective always, and then you have to do an analysis. Right. Where are we? We went to a D and then we went to an E, 2883 back in March. Pulls back and makes a single dreaded H. Then a rather large one, like an M-shaped pattern. And it breaks down. And what happens? All of a sudden you've got, you're at 1872 and that 200 period moving average has to become a propellant. Otherwise, it's like the longer we stay close, this is now three out of four sessions had been really close to the 200 period moving average until gold can not just pop up for one session, until gold can actually move above the pink nine period moving average, which is negative because it's under the 14 period moving average. It needs to be green to be positive until it can close two out of three sessions above 1917. And it's at 1872, 50 or 60 points and gold is an easy thing to do, but it doesn't do it often. But when it does, it's very significant. And now what we're looking at is those two big ugly candles yesterday and then about seven sessions ago, six sessions ago. That's the weight of selling and the stochastic is trying to turn up. It's at 17%. That's quite good. On balance volumes, good. The relative strength, the little gray line there is very negative at about 41%. And the MACD histogram is still very negative. So as I look at it, I can look at all the signals, but it's actually the price that's going to tell me whether or not there is substantial upside. Now I love to put gold together with the GDX because the GDX is the gold miners and what we've seen over the years, a lot of the time when gold miners start to move even before gold, gold will play catch-up, but the gold miners can have a fantastic rally. But once again, I was speaking to John about the volatility index, the oil index, the gold index, the bond X, that's bond bonds and the dollar. And the dollar right now, DXY, is up, it's down today, down 40 cents, but it's up at 103s, testing for four sessions, the whole area of 103 to 104, at new recovery highs, hasn't gone above the major high that we've been looking at. Why did I put that in the answer on place? The major high of 103.82, oh wait a minute, it did, 103, 103.93, oh my, I didn't even see that. It took out the January of 2017 high and this means that this potential could be a triple top or a breakout, you need three months of two closes well above the 103.82, let's call it 104 level to be able to establish that this leg C is going to very quickly pull back at some point and then go to a D even higher towards the 105s or higher. So I'm talking about the dollar, why? Because there's a relationship and sometimes it's a direct inverse relationship as the dollar moves higher, gold moves back, but from the last, boy, this is a quite a long period that we've seen that I usually say that the dollar and gold can move in the same trajectory, not the same percentage gains or anything but the same directional move, maybe four to six weeks, maybe twice, maybe three times throughout the entire year. And most of the time one's going and the other's going in the opposite direction. So that's another thing. So if the dollar pulls back and closes any week, it's a leg F at this particular point in the weekly chart, at any point if the dollar closes under, it just has to do it once, closes under 102, that would be a signal to say that gold should take that opportunity to move counterpoints. And the question was tomorrow, whatever the Fed does, do you think that gold is precipitating the move down and as it is done often enough, it actually turns around and after the Fed speak, gold actually moves higher. So let me go back to the GDX because the GDX is the minus and I would use the minus as this particular point more as a benchmark. And all I can say is that remember I spoke about that gap discussion about I think it was Tuesday or so and I said gold has to, the GDX has to fill the gap. We can't just go into the gap above 3488 of the 25th of April. It actually has to start closing above the low of the 22nd of 3671 for me to say, you know what? Now we've seen a pretty significant turn in the GDX and probably go. I'll be back in a minute. I'll be back in a minute. TfNN has just launched their new trading room. The Tiger's Den hosted at Discord. 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Get your copy of The Art of Timing the Trade Charts today by visiting tfnn.com. 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. So let me just show you this folks. So what I like to do, so either I am trading it or I am analyzing it always because this is how I keep my craft in places like tennis so you also practice, you know, you practice and I'm a musician, I also practice those instruments. You got to keep practicing if you want to be able to at least keep your wits about you, be able to put all your techniques into play. You have this cup formation I made. Remember peak D is the fourth highest peak. That's where other things can happen in the Chapman Wave methodology. We just made the peak D in the one-minute chart back to the 41-45 level and now we've run up and we've retested that high from 6 minutes past 10 a.m. 41-68.25 we just went to that in a leg C. This is the Chapman Wave inside wedge target resistance line it got repelled from that. We're watching it and it says buy 10-35. That's about another 5 minutes or so. There should be a move that tests once again the 40 what I said was 41-64 high that was now it's 41 68.25 high of 6 minutes past 10 we'll see if that's going to happen and there's a peak D in the 10-minute chart and in this particular case I do the same pattern so this little double top that we're looking at right now did everything that it needs to do to get to the left side, right side price time match. I've got a second one right here in the 10-minute chart and I'm just showing you some of these techniques that I'm talking about that's what we're talking about the same technique supply right here so let me just show you a couple of other things so we're going to go back to the different charts you see this cup formation in the GDX that broke and held one bar the next bar went above the high that was made at that peak C high of May the 21st 21 at 40.13 we did that three weeks ago and it couldn't hold and it pulled back sharply so this is what I'm looking at the mag D has crossed pulled back but it hasn't crossed negative so the histogram is still positive the stochastic is down at 69% so it's a little bit negative not a big deal on balance volume is good but the 9 is still way above the 14 and that's a good sign so that's the GDX but this is the cup formation where I like to measure the left side to the right side look at this this is the daily chart of the GDX and what did it do it went just under the 42 level 41.61 and pulled back from the peak E it came straight down hit the 200 period moving average three times bounced up pulled back gap down yesterday and now there's a green bar on the 9 and that's why this little cluster formation here I'm going to draw it as a circle but that's not my Chapman instant restart that is just to point it out visually and say this is really important because if there is a close above the GDX that is a close above 16.09 a close it can't just go above it's a close this A is an A- failure because it broke down and made a low low that will become a gray A and you have to wait all the way for the stochastic to really improve a great deal for the on balance volume histograms to improve and they still very weak for the on balance on balance itself is still weak you would have to be able to generate a GDX by signal not even a by mode but a by signal I would need to see a lot happen I'd have to see trades going into that gap and then closing above it so the days young we've got more than 24 hours to go before the Fed comes up with the minutes we might even kind of get a feel for it beforehand my gut feeling is saying that now look there was an arch formation and this low that was made in the GDX on the 25th of Feb at 3346 the day before that was 3343 yesterday we went down to 3372 3372 we did not take that out so that's the left side right side if I do a vertical test so far the technicals were way superior there they much weaker here so if I do a test it says wow price has to be the arbiter of the trend because it's not the technicals right now so yeah great session today up 69 cents and now let's go to the GDX XAU that's the gold and silver I did update it but I lost the data because it closed shut down without saving one day so let me just put this this went to a D and then it went to an E and you can see then that became a cell signal to a cell mode so the data is in a cell mode it's almost the same thing that we're looking at here this is not this is a gray A until a lot of things happen so what I'm saying is you're anticipating not based on my work I would say it would be if I was going along right now gold or in the GDX I would cheat it just as a starter position saying it's my anticipation I don't have anything technically I do on the 120 minute chart and remember which one I was looking at but the 120 minute chart did make a much nicer a left side right side vertical test much better technicals so the XAU is saying yes based on that I see no reason why not to take a small position and a starter position but I don't see it as technicals now the question itself begs to say what about Thursday I'll just make it simple if on Thursday's close the XAU oh this is going back most people don't use the XAU this is going to the GDX if the GDX tests 3587 and then goes above it if I can close at 3620 or more I suggest to you that we've probably made at least a short term low and that's why you can move a little higher and it's on a closing basis on Thursday I don't want to see intraday I want to see on the close and the GDX gold is now up 11 at 1874 above the 200 period moving average that again on the 120 minute chart I'd say I would definitely say starter position but that's all because it's made lower lows and lower highs I don't like that it's a lot of proving to do well we spend a lot of time on this but I think it's worth it because I had so many questions so yes starter position 30 tight stop if you're using the GDX at 3520G if you're in in the high 34s low 35 area I would put as I'd have a stop today's low 3468 that's 60 cents I do that I'd have a stop at about 3460 and just let it be a trading stop now what we might need to do is this I want you to show you I'll do the indices I'll do all my stuff like I do my preamble you see this arch formation remember we spoke about the arch formation I said it's one of the patterns that we look at there it is the arch formation what I like to do is if it does go to a D or an E yes that it could pull back sharply but it's probably not going to initially go much lower than the left side low well 32578 was one of the left side lows and 32272 was the low in February where did it go to yesterday 32449 in the Dow just under that left side low and it did this price look look at the left side from that from that up to the high of 35372 I drew a vertical line and I made a left side right side price time match and I said the other day that this was very weak they're ready to 35492 that Thursday that I was away look what happened it was much weaker now we've pulled back and this we did it to the day and we held above the exact time price match so this is a chance right now but if it could be a bit of a rally I'll be back in a moment 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 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investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services LLC you can listen to TFNN live on your mobile device 24 hours per day go to TFNN.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV take this to do a real quick wrap up because there's so many things I want to talk about the QQQ's are down a dollar 30 a 30 key 17.27 there are signs that it is attempting to establish a low of at least balanced proportions but that says the balance a big deal it goes to 323 and then maybe 327 that's the 14 period exponential moving areas and the sort of turns around and comes back down so whatever happens with the Fed it's price that is important because the left side right side match that we're looking at in the QQQ weekly chart has the low from March and the balance and then the low that we established yesterday the tacticals are still very weak so this would be more a kind of a tradeable near-term traders way of looking at things and that's kind of what I'm doing for subscribers right now we've got positions that are real they're using the tacticals to say hey something was established and now you can use it to trade in such and such a way if you're looking at the dollar we've spent time on gold I haven't done silver yet look the dollar's holding very well but these sideways rectangle formations very often lead to a sudden slide to the downside rather than even a move up the longer we go sideways any move up means you've established the magnet in this case of 103 to 170 it's kind of the magnet for the dollar and that's the reason why I'm saying let's look at the EURUSD that's the EURUSD currency pair four sessions it's trying to establish some kind of a low this cluster formation needs to actually in this case by Thursday there has to be a move in the EUR not from 1.054 where it's at right now it really has to be closer to 1.061 it has to get back to remember the left side, right side price-time matching years it took from this is the weekly chart from 1.063 I should have put a date the date everything is the same the price gets moved down so this is 1.063 7.8 it's the next day so there we go so 327 20 let me just type that in now because then I've got it down 3 why am I doing that because I've got my silent mouse and my silent mouse can sometimes lead to crazy things but that's okay so the lower the weekly 27th watch runs to the April 1st week plumb line and then you've got an exact match and it takes two more weeks and it breaks underneath that left side low in a beautiful arch formation but the categories are still weak except now the stochastic is flattening out at 7% and you've broken down, you've gone to a low of I hate this because there's so many digits let's call it 1.0471 6 and now you're trading at 1.0545 so what we're looking at here is at the Euro the USD, JPY the this is the Yen has gone to a leg F stalled at the top just like the dollar goes in the same direction as the dollar not the same proportion but the same direction the MACD is so strong the stochastic is flattened at 94% and let's just see what the MACD and the stochastic in the weekly chart is 94% let's look at the Euro, EUR, USD down what did I say, 7% 7% and sort of flattening out at this particular point the dollar and the Yen still have the predominance of being in uptrends just at this particular point it's staying even though it's holding with the flattening sideways and the Euro weekly as underneath this is the second week now the 1.063 low of 27th of March now let's go to Silver, I never did that Silver weekly chart keeps going from a cup to an arch to a cup to an arch, look at this and now we've got the arch formation and the 9th week moving as well the week is young, it's only an hour and a quarter into the second day of this week but so far S says that the 9th has just slipped underneath the 14th but we have to wait for Friday to confirm but look at this we're attempting, I have to tell you I see bounces but I don't see the big move yet in gold or silver I think that has to wait I've got a feeling we're talking about maybe June June could see, when I'm talking about the big move, I mean the trend change the tide is now turned so that it can start to move in much greater degrees to the upside this is the way I'm looking at it crude oil, look at this, crude oil has gone sideways and the rectangle formation can last a lot longer than your patients or your money and in this particular case it's just stuck, it's at 104.10 if it closes above even closing above 110 says it's still in the rectangle formation but if it goes above 110 the stochastic could go over 80% and let's say, whoa you've got enough strength now to try to get towards the high that was made back on the 24th of March of 116.07 129.15 7th of March high now that's 120.50 see how things get smooth 128.60 so that gets changed that's the only thing that gets changed because it gets smoothed out 8.60 that's what I'm always saying notation, chart formation everything else is exactly the same perfect but not the price because it gets smoothed out now this is going to be very important we'll go to the TLT but we'll type it so that we can get the chart rather than type it on the wrong, there we go TLT so in this particular instance if you're talking about the Fed what we're looking at, look at this monthly chart look at the dreaded H pattern first there was one here and it failed more than one to one from the high the 179.70 high now that's 120.20 pulls back to 153ish June of 2020 bounces up to peak A at 172.25 and it makes the H pattern and fails it goes more than one to one to 133.19 then it goes peak A, peak B and another dreaded H that's the second and now it's saying that either we get a sideways pattern or there's going to be let me just put this in a leg E to the downside in the weekly chart and let me show you the weekly chart because of the pattern look at this, look at this the sideways pattern consolidates for ages and breaks from 172 down and breaks the 153 support plunges to 133 then uses the 152.155 resistance area, double top pulls back in an A pattern Eiffel tower straight up straight down doesn't look like it now but it did at the time and look what's happened yields have risen because the TLT is on a weekly basis the stochastic is at 4% in flat that's like being at 96% and flat and that's usually extremely positive, the longer you can stay in the 90s the more positive it is for whatever tradeable you're looking at in this case the longer you stay in the 4% or 6% area underneath the 10% level the longer this weakens it just stays weak so when I'm looking at this I'm saying I'll do that I had a question about it could you look at your triple yield chart I'll do that I was going to do some other things and it's important that I do those other things but yes here's my triple yield chart why does the TYX 30 year T bond yield the TNX is the brown 10 year yield and the cyan is the the 5 year and look what's happened we've just gone to a higher high look at this unbelievable we've gone to a leg E oh it's more than E in the daily chart of the triple yield chart and look how the timber and forestry ETF is held steady and so in fact it's the HGX for the housing index 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 either TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV live every market day from 8.30 am to 4 pm eastern for free each host is an experienced trader and gives their take on the market while taking calls 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just click the Think or Swim banner on the front page of TFNN.com I just had a question about so this you see this these one two three four five seven six bars since the load that was made right here on the 25th of 37219 retested at 371.60 yesterday this is a little different into the gap down that we saw in the GDX and the GDX junior because it's attempted to get to the gap so dear saying I've used the 200 period which for sevens eight sessions actually seven sessions to try to treat it as a spring board but the stochastic at 13% and flat is not that great so it's price it's going to have to get everything to move higher but this is a better looking cluster formation that has a spring like coil to the upside if for any reason by tomorrow afternoon at three o'clock to four o'clock if dear is responding say positively to whatever the Fed says and a source to move is a 387 if a source to trade at 394 that's going to be a good sign and therefore that's why I'm saying the GDX has a lot of work to do because it needs it's a different pattern it failed and now it's a great great two candles but it needs a lot more work and it needs to power in a V-shaped formation into the 36 36 30s or 50s so it's a 35 25 right now so a couple of things as we are about to wrap up in the final segment don't forget Larry Presidentos all day trading webinars it'll be up on TFNN and check it out it's coming up I think Wednesday a week or something like that wow should it be what a time for something like this and of course Larry's an expert and doing those sessions so now let's look at this what do I want the VIX index right now the VIX index is down a dollar 17 and 31 17 based on the leg D and remember I use it I don't like that they use the because it's an emotional response I don't use the Chapman methodology but it has been in working for a little while so this is a leg D a possible peak D if tomorrow at 3 15 to 3 45 the VIX index instead of being up in the 33 60 area is actually down in the 29s and the general market is responding at least going into the close positively this VIX index could in fact decline to the 26 23 level over the following five sessions and that'll be what you're looking for for a decent tradeable good bouncing in the gap have a wonderful day stay tuned for Larry check out both the GOMO data newsletter we've got